UpUpUpUpUp personal page - To The Moon

UpUpUpUpUp

UpUpUpUpUp

No personal profile

182Follow

11Followers

0Topic

0Badge

2021-09-17

Like!!!

Toplines Before US Market Open on Friday

2021-09-11

Like!

Sorry, the original content has been removed

2021-09-05

Great!!! Like pls

Speak No Evil of the S&P 500’s Neverending Records

2021-08-29

Nice!! Like

Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers

2021-08-09

Nice!!

Sorry, the original content has been removed

2021-08-08

Oh no!

Sorry, the original content has been removed

2021-07-30

Nice!!

Sorry, the original content has been removed

2021-07-28

Why is the share price continue to drop?

Sorry, the original content has been removed

2021-07-25

Great!! Go go go!!

Sorry, the original content has been removed

2021-07-24

Good job!!

Sorry, the original content has been removed

2021-07-21

Nice!!

Sorry, the original content has been removed

2021-07-18

Really??

Sorry, the original content has been removed

2021-07-14

Great! Like pls!

Sorry, the original content has been removed

2021-07-12

They are in control.

Sorry, the original content has been removed

2021-07-11

It will confirm rise!!

Sorry, the original content has been removed

2021-07-10

Like!

Sorry, the original content has been removed

2021-07-09

Like pls

Sorry, the original content has been removed

2021-07-08

Ends up well

Sorry, the original content has been removed

2021-07-08

Wow!!

Sorry, the original content has been removed

2021-07-08

Woohoo!!!

Sorry, the original content has been removed

Go to Tiger App to see more news

Invest in Global Markets with Tiger Brokers!

Open App

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3575517733011286","uuid":"3575517733011286","gmtCreate":1612423710283,"gmtModify":1612959119035,"name":"UpUpUpUpUp","pinyin":"upupupupup","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":11,"headSize":182,"tweetSize":57,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.03.16","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"60.27%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":2,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":884854035,"gmtCreate":1631882374127,"gmtModify":1676530660486,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like!!!","listText":"Like!!!","text":"Like!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/884854035","repostId":"1151546238","repostType":4,"repost":{"id":"1151546238","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":1631880659,"share":"https://ttm.financial/m/news/1151546238?lang=&edition=full_marsco","pubTime":"2021-09-17 20:10","market":"us","language":"en","title":"Toplines Before US Market Open on  Friday","url":"https://stock-news.laohu8.com/highlight/detail?id=1151546238","media":"Tiger Newspress","summary":"U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this w","content":"<p>U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks.</p>\n<p>U.S. S&amp;P 500 E-minis were down 10.5 points, or 0.24%, at 08:00 am ET. Dow E-minis were down 65 points, or 0.19%, while Nasdaq 100 E-minis were down 34.5 points, or 0.22%.</p>\n<p><img src=\"https://static.tigerbbs.com/422068c56661ddc3e6e1ffc31f3bd4ca\" tg-width=\"1080\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>FAANG stocks, including Apple Inc&nbsp;and Alphabet Inc, some of the largest tech names on Wall Street, fell slightly in premarket trading.</p>\n<p>Focus now turns to a meeting of the Federal Reserve next week, with investors debating if a swathe of strong economic data this week could spur the bank into shortening its timeline for reducing monetary stimulus.</p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<p><b>Coupang(CPNG)</b> – Softbank’s Vision Fund sold 57 million shares of the South Korean online retailer for about $1.69 billion, according to an SEC filing.Coupang shares fell 0.4% in the premarket.</p>\n<p><b>Lucid(LCID)</b>&nbsp; –&nbsp;EV maker Lucid shares jumped 4.7% in morning trading&nbsp;as&nbsp;its luxury sedan got 520-mile driving range rating.In addition,Bank of America predicts 50% gain in Lucid, compares EV maker to Tesla and Ferrari.</p>\n<p><b>Take-Two Interactive(TTWO) </b>– The video game maker’s stocks fell 1.5% in premarket action after BMO Capital downgraded the stock to “market perform” from “outperform.” BMO’s earnings estimates for Take-Two had been on the high end of Street forecasts, but it said it is now less confident following a series of video game release delays.</p>\n<p><b>Manchester United(MANU)</b> – The soccer team operator reported a quarterly loss that was 5.9% narower than what it lost a year ago amid a 15.9% increase in revenue. Manchester United is not providing full-year revenue or earnings guidance for fiscal 2022 due to uncertainty surrounding the Covid-19 pandemic.</p>\n<p><b>Invesco(IVZ)</b> – The investment management firm is in talks to merge with&nbsp;State Street’s (STT) asset management unit, according to people familiar with the matter who spoke to the Wall Street Journal. Those sources said a deal is not imminent and might not happen at all. Invesco shares surged 4.6% in the premarket, while State Street edged up 0.8%.</p>\n<p><b>Accolade(ACCD)</b> – The provider of workplace benefits management solutions rose 2% in the premarket after Baird upgraded the stock to “outperform” from “neutral.” Baird cited a track record of strong execution and its increasing confidence following recent conversations with management.</p>\n<p><b>Unum(UNM)</b> – Unum is launching a new digital verification tool designed to help companies manage vaccine mandates. The insurer’s product allows workers to report vaccination status and upload documentation as well as helping companies manage exemptions.</p>\n<p><b>Eli Lilly(LLY)</b> – The drugmaker won FDA approval for expansion of the emergency use authorization for its Covid-19 treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.</p>\n<p><b>General Motors(GM)</b> – GM plans to extend downtime at seven North American factories as the worldwide semiconductor shortage continues to crimp production.The&nbsp;shares fell 0.3% in the premarket.</p>\n<p><b>U.S. Steel(X)</b> – U.S. Steel is planning to build a new U.S. steel mill, with construction beginning next year and production planned to kick off in 2024. The move comes amid booming demand for steel as well as prices that have roughly quadrupled since the summer of 2020. Shares fell 2.1% in the premarket.</p>\n<p><b>Zumiez(ZUMZ)</b> – Zumiez shares rose 1% in premarket trading after the streetwear and sports apparel company announced a $150 million stock buyback program.</p>\n<p><b>Diamondback Energy(FANG)</b> – The energy producer announced an accelerated capital return plan and approved a $2 billion stock buyback. Diamondback’s stock rallied 3.7% in premarket trading.</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>Toplines Before US Market Open on  Friday</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\">\nToplines Before US Market Open on  Friday\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\">2021-09-17 20:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks.</p>\n<p>U.S. S&amp;P 500 E-minis were down 10.5 points, or 0.24%, at 08:00 am ET. Dow E-minis were down 65 points, or 0.19%, while Nasdaq 100 E-minis were down 34.5 points, or 0.22%.</p>\n<p><img src=\"https://static.tigerbbs.com/422068c56661ddc3e6e1ffc31f3bd4ca\" tg-width=\"1080\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>FAANG stocks, including Apple Inc&nbsp;and Alphabet Inc, some of the largest tech names on Wall Street, fell slightly in premarket trading.</p>\n<p>Focus now turns to a meeting of the Federal Reserve next week, with investors debating if a swathe of strong economic data this week could spur the bank into shortening its timeline for reducing monetary stimulus.</p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<p><b>Coupang(CPNG)</b> – Softbank’s Vision Fund sold 57 million shares of the South Korean online retailer for about $1.69 billion, according to an SEC filing.Coupang shares fell 0.4% in the premarket.</p>\n<p><b>Lucid(LCID)</b>&nbsp; –&nbsp;EV maker Lucid shares jumped 4.7% in morning trading&nbsp;as&nbsp;its luxury sedan got 520-mile driving range rating.In addition,Bank of America predicts 50% gain in Lucid, compares EV maker to Tesla and Ferrari.</p>\n<p><b>Take-Two Interactive(TTWO) </b>– The video game maker’s stocks fell 1.5% in premarket action after BMO Capital downgraded the stock to “market perform” from “outperform.” BMO’s earnings estimates for Take-Two had been on the high end of Street forecasts, but it said it is now less confident following a series of video game release delays.</p>\n<p><b>Manchester United(MANU)</b> – The soccer team operator reported a quarterly loss that was 5.9% narower than what it lost a year ago amid a 15.9% increase in revenue. Manchester United is not providing full-year revenue or earnings guidance for fiscal 2022 due to uncertainty surrounding the Covid-19 pandemic.</p>\n<p><b>Invesco(IVZ)</b> – The investment management firm is in talks to merge with&nbsp;State Street’s (STT) asset management unit, according to people familiar with the matter who spoke to the Wall Street Journal. Those sources said a deal is not imminent and might not happen at all. Invesco shares surged 4.6% in the premarket, while State Street edged up 0.8%.</p>\n<p><b>Accolade(ACCD)</b> – The provider of workplace benefits management solutions rose 2% in the premarket after Baird upgraded the stock to “outperform” from “neutral.” Baird cited a track record of strong execution and its increasing confidence following recent conversations with management.</p>\n<p><b>Unum(UNM)</b> – Unum is launching a new digital verification tool designed to help companies manage vaccine mandates. The insurer’s product allows workers to report vaccination status and upload documentation as well as helping companies manage exemptions.</p>\n<p><b>Eli Lilly(LLY)</b> – The drugmaker won FDA approval for expansion of the emergency use authorization for its Covid-19 treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.</p>\n<p><b>General Motors(GM)</b> – GM plans to extend downtime at seven North American factories as the worldwide semiconductor shortage continues to crimp production.The&nbsp;shares fell 0.3% in the premarket.</p>\n<p><b>U.S. Steel(X)</b> – U.S. Steel is planning to build a new U.S. steel mill, with construction beginning next year and production planned to kick off in 2024. The move comes amid booming demand for steel as well as prices that have roughly quadrupled since the summer of 2020. Shares fell 2.1% in the premarket.</p>\n<p><b>Zumiez(ZUMZ)</b> – Zumiez shares rose 1% in premarket trading after the streetwear and sports apparel company announced a $150 million stock buyback program.</p>\n<p><b>Diamondback Energy(FANG)</b> – The energy producer announced an accelerated capital return plan and approved a $2 billion stock buyback. Diamondback’s stock rallied 3.7% in premarket trading.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZUMZ":"Zumiez Inc","AAPL":"苹果",".DJI":"道琼斯","LLY":"礼来","IVZ":"美国景顺集团","ACCD":"Accolade, Inc.","FANG":"Diamondback Energy",".IXIC":"NASDAQ Composite","MANU":"曼联","CPNG":"Coupang, Inc.","LCID":"Lucid Group Inc","UNM":"尤纳姆集团","X":"美国钢铁","GM":"通用汽车",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151546238","content_text":"U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks.\nU.S. S&P 500 E-minis were down 10.5 points, or 0.24%, at 08:00 am ET. Dow E-minis were down 65 points, or 0.19%, while Nasdaq 100 E-minis were down 34.5 points, or 0.22%.\n\nFAANG stocks, including Apple Inc and Alphabet Inc, some of the largest tech names on Wall Street, fell slightly in premarket trading.\nFocus now turns to a meeting of the Federal Reserve next week, with investors debating if a swathe of strong economic data this week could spur the bank into shortening its timeline for reducing monetary stimulus.\nStocks making the biggest moves premarket:\nCoupang(CPNG) – Softbank’s Vision Fund sold 57 million shares of the South Korean online retailer for about $1.69 billion, according to an SEC filing.Coupang shares fell 0.4% in the premarket.\nLucid(LCID)  – EV maker Lucid shares jumped 4.7% in morning trading as its luxury sedan got 520-mile driving range rating.In addition,Bank of America predicts 50% gain in Lucid, compares EV maker to Tesla and Ferrari.\nTake-Two Interactive(TTWO) – The video game maker’s stocks fell 1.5% in premarket action after BMO Capital downgraded the stock to “market perform” from “outperform.” BMO’s earnings estimates for Take-Two had been on the high end of Street forecasts, but it said it is now less confident following a series of video game release delays.\nManchester United(MANU) – The soccer team operator reported a quarterly loss that was 5.9% narower than what it lost a year ago amid a 15.9% increase in revenue. Manchester United is not providing full-year revenue or earnings guidance for fiscal 2022 due to uncertainty surrounding the Covid-19 pandemic.\nInvesco(IVZ) – The investment management firm is in talks to merge with State Street’s (STT) asset management unit, according to people familiar with the matter who spoke to the Wall Street Journal. Those sources said a deal is not imminent and might not happen at all. Invesco shares surged 4.6% in the premarket, while State Street edged up 0.8%.\nAccolade(ACCD) – The provider of workplace benefits management solutions rose 2% in the premarket after Baird upgraded the stock to “outperform” from “neutral.” Baird cited a track record of strong execution and its increasing confidence following recent conversations with management.\nUnum(UNM) – Unum is launching a new digital verification tool designed to help companies manage vaccine mandates. The insurer’s product allows workers to report vaccination status and upload documentation as well as helping companies manage exemptions.\nEli Lilly(LLY) – The drugmaker won FDA approval for expansion of the emergency use authorization for its Covid-19 treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.\nGeneral Motors(GM) – GM plans to extend downtime at seven North American factories as the worldwide semiconductor shortage continues to crimp production.The shares fell 0.3% in the premarket.\nU.S. Steel(X) – U.S. Steel is planning to build a new U.S. steel mill, with construction beginning next year and production planned to kick off in 2024. The move comes amid booming demand for steel as well as prices that have roughly quadrupled since the summer of 2020. Shares fell 2.1% in the premarket.\nZumiez(ZUMZ) – Zumiez shares rose 1% in premarket trading after the streetwear and sports apparel company announced a $150 million stock buyback program.\nDiamondback Energy(FANG) – The energy producer announced an accelerated capital return plan and approved a $2 billion stock buyback. Diamondback’s stock rallied 3.7% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1070,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881486835,"gmtCreate":1631376294827,"gmtModify":1676530538403,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like!","listText":"Like!","text":"Like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/881486835","repostId":"1105074635","repostType":4,"isVote":1,"tweetType":1,"viewCount":1114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814544789,"gmtCreate":1630851409841,"gmtModify":1676530405896,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Great!!! Like pls","listText":"Great!!! Like pls","text":"Great!!! Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/814544789","repostId":"1168498795","repostType":4,"repost":{"id":"1168498795","kind":"news","pubTimestamp":1630655991,"share":"https://ttm.financial/m/news/1168498795?lang=&edition=full_marsco","pubTime":"2021-09-03 15:59","market":"us","language":"en","title":"Speak No Evil of the S&P 500’s Neverending Records","url":"https://stock-news.laohu8.com/highlight/detail?id=1168498795","media":"The Wall Street Journal","summary":"Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the ch","content":"<blockquote>\n <b>Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the chunky returns of the past decade.</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/6573eb955692f754acc1285622febd53\" tg-width=\"878\" tg-height=\"520\" width=\"100%\" height=\"auto\">The S&amp;P 500 is like the three wise monkeys: See no evil, hear no evil, speak no evil.Whatever happens, it just goes up. The market has gone up almost in a straight line since November despite a troubling list of events that could each have justified at least a 5% correction. Investors are incredibly resilient.</p>\n<p>Some things that didn’t matter:a burst bubble in clean-energy stocks;a sharp rise in Treasury yields(to March);a big fall in Treasury yields(since March); China’s crackdown on moneymaking; the Federal Reserve’sshift toward tapering bond purchases; and the rise of the Delta variant.</p>\n<p>On the optimistic side, it is great that the market has been pushed up by a variety of forces, not by wild excess in a single area. We need not worry that the bubble in clean energy will burst and bring down the market, because it has already burst without bringing down the market.</p>\n<p>Throughout all this, the stock market has risen steadily,without a 5% fall since shortly before the election last year. Every time part of the market—technology stocks, cheap stocks, smaller stocks, oil stocks, strong-balance-sheet stocks—stops performing, something else steps in to rescue the broader index. The market seems invulnerable to bad news, and that is unusual. On the face of it, it is also scary, suggesting investors are complacent about danger.</p>\n<p>It is far from unprecedented to go a long time without a correction, with 10 episodes since 1963 when the market lasted more than 200 trading days without a 5% drop. But they were different from the recent run. In every other case, the market was far calmer below the surface. This time, major events led to big swings between sectors, size and types of stock, but none disturbed its steady rise.</p>\n<p>Similarly, the stimulus- and vaccine-driven willingness to take risk across every asset class faded from March onward, so we shouldn’t be too concerned about a switch in investor sentiment. Again, it has already happened.</p>\n<p><img src=\"https://static.tigerbbs.com/7d8b995934c7f60fadb5834dd078e232\" tg-width=\"320\" tg-height=\"412\" width=\"100%\" height=\"auto\">Yet,I find it disconcerting that the market seems to go up no matter what. Good news on the economy pushes up stocks sensitive to growth, such as manufacturers and banks. Troubling news on the economy means lower bond yields and so pushes up stocks with profits far in the future (see: Big Tech) whose expansion depends on innovation rather than economic growth, which I understand. That both should push up the wider S&amp;P 500 is what puzzles me.</p>\n<p>The only explanation I have is the old one: “TINA”—There Is No Alternative to Stocks—because yields on alternatives such as bonds are so low. With more savings going into stocks than is cashed out or soaked up by IPOs, the price has to rise. It isn’t a satisfactory story, but it kind of works.</p>\n<p><img src=\"https://static.tigerbbs.com/37942e27b25662943d254580733d2954\" tg-width=\"325\" tg-height=\"413\" width=\"100%\" height=\"auto\">In both good and bad times investors want to buy stocks, so the S&amp;P goes up. But<i>which</i>stocks they choose to buy differs between good and bad times. In good times they want risk-on stocks (cheap value, cyclicals, smaller companies, emerging markets). In bad times they want risk-off stocks (growth, defensive firms, larger companies, developed markets and especially the U.S.).</p>\n<p>The problem with TINA is that the justification for stocks isn’t that they offer good returns in the future, but that they offer better returns than bonds. Bonds offer miserable returns—a guaranteed loss after inflation for 30 years on Treasury inflation-protected securities—so doing better than that isn’t saying much. If lower rewards came with lower risks, that would be fine, but at best the risks are as high as ever, perhaps much higher.</p>\n<p>A simplistic way to quantify how much lower the rewards of stocks are likely to be is to use the earnings yield, the inverse of the forward price/earnings ratio. If companies match analyst profit forecasts, future returns should be about 4%—only slightly higher than was suggested by the measure at the height of the dot-com bubble in 2000. If corporate earnings miss forecasts, future returns could be substantially lower. If valuations fall too, returns are doubly hit, as they were after the dot-com bubble burst, when returns ended up negative for years.</p>\n<p>Quantifying risks is much harder. Inflation risk is higher than before, and so are political (tax and regulation) and geopolitical (trade and supply chain) threats to stocks. The risk that analysts have horribly overestimated earnings or companies are massively overstating earnings is at least as high as usual. Central banks are sure to try to help if stocks plunge, but can’t use the traditional support of rate cuts. Alternative tools such as negative rates and buying a wider range of assets are available, but their risks are less well understood.</p>\n<p>Getting a lower reward for the same or higher risk may still be acceptable, given how expensive the safer alternatives are. But investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the 6.5% or so above inflation of the past century, let alone the 12% above inflation of the past decade.</p>\n<p>The awful choice investors have is to join the monkeys in pretending all is well, or accept the terrible returns of safe assets.</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>Speak No Evil of the S&P 500’s Neverending Records</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\">\nSpeak No Evil of the S&P 500’s Neverending Records\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 15:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/speak-no-evil-of-the-s-p-500s-neverending-records-11630590653?mod=markets_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the chunky returns of the past decade.\n\nThe S&P 500 is like the three wise monkeys: See no evil, hear no ...</p>\n\n<a href=\"https://www.wsj.com/articles/speak-no-evil-of-the-s-p-500s-neverending-records-11630590653?mod=markets_lead_pos5\">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"},"source_url":"https://www.wsj.com/articles/speak-no-evil-of-the-s-p-500s-neverending-records-11630590653?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168498795","content_text":"Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the chunky returns of the past decade.\n\nThe S&P 500 is like the three wise monkeys: See no evil, hear no evil, speak no evil.Whatever happens, it just goes up. The market has gone up almost in a straight line since November despite a troubling list of events that could each have justified at least a 5% correction. Investors are incredibly resilient.\nSome things that didn’t matter:a burst bubble in clean-energy stocks;a sharp rise in Treasury yields(to March);a big fall in Treasury yields(since March); China’s crackdown on moneymaking; the Federal Reserve’sshift toward tapering bond purchases; and the rise of the Delta variant.\nOn the optimistic side, it is great that the market has been pushed up by a variety of forces, not by wild excess in a single area. We need not worry that the bubble in clean energy will burst and bring down the market, because it has already burst without bringing down the market.\nThroughout all this, the stock market has risen steadily,without a 5% fall since shortly before the election last year. Every time part of the market—technology stocks, cheap stocks, smaller stocks, oil stocks, strong-balance-sheet stocks—stops performing, something else steps in to rescue the broader index. The market seems invulnerable to bad news, and that is unusual. On the face of it, it is also scary, suggesting investors are complacent about danger.\nIt is far from unprecedented to go a long time without a correction, with 10 episodes since 1963 when the market lasted more than 200 trading days without a 5% drop. But they were different from the recent run. In every other case, the market was far calmer below the surface. This time, major events led to big swings between sectors, size and types of stock, but none disturbed its steady rise.\nSimilarly, the stimulus- and vaccine-driven willingness to take risk across every asset class faded from March onward, so we shouldn’t be too concerned about a switch in investor sentiment. Again, it has already happened.\nYet,I find it disconcerting that the market seems to go up no matter what. Good news on the economy pushes up stocks sensitive to growth, such as manufacturers and banks. Troubling news on the economy means lower bond yields and so pushes up stocks with profits far in the future (see: Big Tech) whose expansion depends on innovation rather than economic growth, which I understand. That both should push up the wider S&P 500 is what puzzles me.\nThe only explanation I have is the old one: “TINA”—There Is No Alternative to Stocks—because yields on alternatives such as bonds are so low. With more savings going into stocks than is cashed out or soaked up by IPOs, the price has to rise. It isn’t a satisfactory story, but it kind of works.\nIn both good and bad times investors want to buy stocks, so the S&P goes up. Butwhichstocks they choose to buy differs between good and bad times. In good times they want risk-on stocks (cheap value, cyclicals, smaller companies, emerging markets). In bad times they want risk-off stocks (growth, defensive firms, larger companies, developed markets and especially the U.S.).\nThe problem with TINA is that the justification for stocks isn’t that they offer good returns in the future, but that they offer better returns than bonds. Bonds offer miserable returns—a guaranteed loss after inflation for 30 years on Treasury inflation-protected securities—so doing better than that isn’t saying much. If lower rewards came with lower risks, that would be fine, but at best the risks are as high as ever, perhaps much higher.\nA simplistic way to quantify how much lower the rewards of stocks are likely to be is to use the earnings yield, the inverse of the forward price/earnings ratio. If companies match analyst profit forecasts, future returns should be about 4%—only slightly higher than was suggested by the measure at the height of the dot-com bubble in 2000. If corporate earnings miss forecasts, future returns could be substantially lower. If valuations fall too, returns are doubly hit, as they were after the dot-com bubble burst, when returns ended up negative for years.\nQuantifying risks is much harder. Inflation risk is higher than before, and so are political (tax and regulation) and geopolitical (trade and supply chain) threats to stocks. The risk that analysts have horribly overestimated earnings or companies are massively overstating earnings is at least as high as usual. Central banks are sure to try to help if stocks plunge, but can’t use the traditional support of rate cuts. Alternative tools such as negative rates and buying a wider range of assets are available, but their risks are less well understood.\nGetting a lower reward for the same or higher risk may still be acceptable, given how expensive the safer alternatives are. But investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the 6.5% or so above inflation of the past century, let alone the 12% above inflation of the past decade.\nThe awful choice investors have is to join the monkeys in pretending all is well, or accept the terrible returns of safe assets.","news_type":1},"isVote":1,"tweetType":1,"viewCount":842,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813790825,"gmtCreate":1630242869967,"gmtModify":1676530249733,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Nice!! Like","listText":"Nice!! Like","text":"Nice!! Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/813790825","repostId":"1184130616","repostType":4,"repost":{"id":"1184130616","kind":"news","pubTimestamp":1630111537,"share":"https://ttm.financial/m/news/1184130616?lang=&edition=full_marsco","pubTime":"2021-08-28 08:45","market":"us","language":"en","title":"Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers","url":"https://stock-news.laohu8.com/highlight/detail?id=1184130616","media":"Benzinga","summary":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the head","content":"<p><i>Does crime pay?</i></p>\n<p>Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,<b>Bernard Ebbers</b>physically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.</p>\n<p>Ebbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”</p>\n<p><b>But ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.</b></p>\n<p><b>A Man In Search Of Himself:</b>&nbsp;Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.</p>\n<p>The Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He&nbsp;attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.</p>\n<p>Ebbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,<b>Linda Pigott,</b>after graduating and landed work teaching science to middle-school students while coaching high school basketball.</p>\n<p>But Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.</p>\n<p>Ebbers’ approach to running a hospitality establishment sometimes bordered on the eccentric.&nbsp;He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.</p>\n<p><b>Calling Out Around The World:</b>Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup of<b>AT&amp;T Inc.'s</b>&nbsp;T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.</p>\n<p>In 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.</p>\n<p>Ebbers and his pals decided to get into the telecommunications business with&nbsp;<b>Long Distance Discount Services,</b>&nbsp;which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.</p>\n<p><b>Carl J. Aycock,</b>a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.</p>\n<p>“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.</p>\n<p>Maybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.</p>\n<p>Within 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in&nbsp;sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.</p>\n<p>Many of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of&nbsp;<b>Advanced Telecommunications Corporation</b>&nbsp;in 1992.</p>\n<p>The unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&amp;T and&nbsp;<b>Sprint Corporation,</b>both considerably larger players in this field.</p>\n<p>The one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to&nbsp;<b>Kristie Webb.</b></p>\n<p>In February 1998, Ebbers’ company launched its acquisition plans for&nbsp;<b>CompuServe</b>&nbsp;from&nbsp;<b>H&amp;R Block Inc</b>.</p>\n<p>This transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition to<b>America Online,</b>while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.</p>\n<p>In September 1998, LDDS WorldCom sealed a $37 billion union with&nbsp;<b>MCI Communications,</b>which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit —&nbsp;except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.</p>\n<p><b>A Little Out Of Touch:</b>One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.</p>\n<p>At the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.</p>\n<p>“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”</p>\n<p>But as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.</p>\n<p>And for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”</p>\n<p>While Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.</p>\n<p><b>In retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw</b>, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.</p>\n<p><b>Detour Off The Cliff:</b>The first cracks in this corporate story began in October 1999 when MCI WorldCom —&nbsp;which had become the second-largest long-distance telephone company in the country —&nbsp;announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.</p>\n<p>With the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.</p>\n<p>Worldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a&nbsp;senior manager ordering&nbsp;a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.</p>\n<p>The company’s chief technical officer,<b>Fred Briggs,</b>then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project —&nbsp;and his directive was shared with other divisions in the company.</p>\n<p>A WorldCom budget analyst named&nbsp;<b>Kim Amigh</b>in the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh —&nbsp;three months after his action, Amigh was abruptly laid off from the company.</p>\n<p>But Vice President of Internal Audit&nbsp;<b>Cynthia Cooper</b>&nbsp;learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 —&nbsp;except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.</p>\n<p>Cooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.</p>\n<p>And Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.</p>\n<p>Adding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.</p>\n<p>To alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000&nbsp;— and then borrowed again&nbsp;and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.</p>\n<p>In June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure&nbsp;later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.</p>\n<p><b>Road’s End:</b>The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.</p>\n<p>Ebbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.</p>\n<p>“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”</p>\n<p>Ebbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.</p>\n<p>He remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.</p>\n<p>After 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.</p>\n<p>In defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.</p>\n<p>Said Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”</p>\n<p></p>","source":"lsy1606299360108","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>Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers</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\">\nWall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184130616","content_text":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.\nEbbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”\nBut ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.\nA Man In Search Of Himself: Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.\nThe Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.\nEbbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,Linda Pigott,after graduating and landed work teaching science to middle-school students while coaching high school basketball.\nBut Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.\nEbbers’ approach to running a hospitality establishment sometimes bordered on the eccentric. He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.\nCalling Out Around The World:Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup ofAT&T Inc.'s T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.\nIn 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.\nEbbers and his pals decided to get into the telecommunications business with Long Distance Discount Services, which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.\nCarl J. Aycock,a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.\n“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.\nMaybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.\nWithin 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.\nMany of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of Advanced Telecommunications Corporation in 1992.\nThe unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&T and Sprint Corporation,both considerably larger players in this field.\nThe one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to Kristie Webb.\nIn February 1998, Ebbers’ company launched its acquisition plans for CompuServe from H&R Block Inc.\nThis transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition toAmerica Online,while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.\nIn September 1998, LDDS WorldCom sealed a $37 billion union with MCI Communications,which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit — except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.\nA Little Out Of Touch:One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.\nAt the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.\n“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”\nBut as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.\nAnd for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”\nWhile Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.\nIn retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.\nDetour Off The Cliff:The first cracks in this corporate story began in October 1999 when MCI WorldCom — which had become the second-largest long-distance telephone company in the country — announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.\nWith the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.\nWorldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a senior manager ordering a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.\nThe company’s chief technical officer,Fred Briggs,then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project — and his directive was shared with other divisions in the company.\nA WorldCom budget analyst named Kim Amighin the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh — three months after his action, Amigh was abruptly laid off from the company.\nBut Vice President of Internal Audit Cynthia Cooper learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 — except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.\nCooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.\nAnd Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.\nAdding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.\nTo alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000 — and then borrowed again and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.\nIn June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.\nRoad’s End:The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.\nEbbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.\n“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”\nEbbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.\nHe remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.\nAfter 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.\nIn defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.\nSaid Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898451385,"gmtCreate":1628518646247,"gmtModify":1703507473161,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Nice!!","listText":"Nice!!","text":"Nice!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/898451385","repostId":"1135535489","repostType":4,"isVote":1,"tweetType":1,"viewCount":973,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891591452,"gmtCreate":1628396948176,"gmtModify":1703505838460,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Oh no!","listText":"Oh no!","text":"Oh no!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/891591452","repostId":"1190347839","repostType":4,"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806580816,"gmtCreate":1627671362535,"gmtModify":1703494471549,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Nice!!","listText":"Nice!!","text":"Nice!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/806580816","repostId":"1135561812","repostType":4,"isVote":1,"tweetType":1,"viewCount":812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803869769,"gmtCreate":1627432306851,"gmtModify":1703489758489,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Why is the share price continue to drop?","listText":"Why is the share price continue to drop?","text":"Why is the share price continue to drop?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/803869769","repostId":"2154491203","repostType":2,"isVote":1,"tweetType":1,"viewCount":1192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177925922,"gmtCreate":1627177182966,"gmtModify":1703485049639,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Great!! Go go go!!","listText":"Great!! Go go go!!","text":"Great!! Go go go!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/177925922","repostId":"1107345366","repostType":4,"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174619632,"gmtCreate":1627094367526,"gmtModify":1703484149716,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Good job!!","listText":"Good job!!","text":"Good job!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174619632","repostId":"1151500518","repostType":4,"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176313341,"gmtCreate":1626860836483,"gmtModify":1703479456616,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Nice!!","listText":"Nice!!","text":"Nice!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/176313341","repostId":"1179602567","repostType":4,"isVote":1,"tweetType":1,"viewCount":380,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173088557,"gmtCreate":1626586105279,"gmtModify":1703762084444,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Really??","listText":"Really??","text":"Really??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/173088557","repostId":"2152897876","repostType":4,"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145612326,"gmtCreate":1626221010265,"gmtModify":1703755678080,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Great! Like pls!","listText":"Great! Like pls!","text":"Great! Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/145612326","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142055059,"gmtCreate":1626106253671,"gmtModify":1703753605859,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"They are in control.","listText":"They are in control.","text":"They are in control.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/142055059","repostId":"1175879126","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148766602,"gmtCreate":1626018756306,"gmtModify":1703752000436,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"It will confirm rise!!","listText":"It will confirm rise!!","text":"It will confirm rise!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/148766602","repostId":"1112201050","repostType":4,"isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148324970,"gmtCreate":1625933897990,"gmtModify":1703751039049,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like!","listText":"Like!","text":"Like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/148324970","repostId":"1159307278","repostType":4,"isVote":1,"tweetType":1,"viewCount":400,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141604740,"gmtCreate":1625854416780,"gmtModify":1703749962875,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141604740","repostId":"1155625151","repostType":4,"isVote":1,"tweetType":1,"viewCount":433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143032685,"gmtCreate":1625752094447,"gmtModify":1703747829231,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Ends up well","listText":"Ends up well","text":"Ends up well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143032685","repostId":"2149344571","repostType":4,"isVote":1,"tweetType":1,"viewCount":226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143038158,"gmtCreate":1625752051174,"gmtModify":1703747826134,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Wow!!","listText":"Wow!!","text":"Wow!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143038158","repostId":"1169240809","repostType":4,"isVote":1,"tweetType":1,"viewCount":298,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143031515,"gmtCreate":1625752027137,"gmtModify":1703747825133,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Woohoo!!!","listText":"Woohoo!!!","text":"Woohoo!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143031515","repostId":"1144202301","repostType":4,"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":814544789,"gmtCreate":1630851409841,"gmtModify":1676530405896,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Great!!! Like pls","listText":"Great!!! Like pls","text":"Great!!! Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/814544789","repostId":"1168498795","repostType":4,"repost":{"id":"1168498795","kind":"news","pubTimestamp":1630655991,"share":"https://ttm.financial/m/news/1168498795?lang=&edition=full_marsco","pubTime":"2021-09-03 15:59","market":"us","language":"en","title":"Speak No Evil of the S&P 500’s Neverending Records","url":"https://stock-news.laohu8.com/highlight/detail?id=1168498795","media":"The Wall Street Journal","summary":"Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the ch","content":"<blockquote>\n <b>Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the chunky returns of the past decade.</b>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/6573eb955692f754acc1285622febd53\" tg-width=\"878\" tg-height=\"520\" width=\"100%\" height=\"auto\">The S&amp;P 500 is like the three wise monkeys: See no evil, hear no evil, speak no evil.Whatever happens, it just goes up. The market has gone up almost in a straight line since November despite a troubling list of events that could each have justified at least a 5% correction. Investors are incredibly resilient.</p>\n<p>Some things that didn’t matter:a burst bubble in clean-energy stocks;a sharp rise in Treasury yields(to March);a big fall in Treasury yields(since March); China’s crackdown on moneymaking; the Federal Reserve’sshift toward tapering bond purchases; and the rise of the Delta variant.</p>\n<p>On the optimistic side, it is great that the market has been pushed up by a variety of forces, not by wild excess in a single area. We need not worry that the bubble in clean energy will burst and bring down the market, because it has already burst without bringing down the market.</p>\n<p>Throughout all this, the stock market has risen steadily,without a 5% fall since shortly before the election last year. Every time part of the market—technology stocks, cheap stocks, smaller stocks, oil stocks, strong-balance-sheet stocks—stops performing, something else steps in to rescue the broader index. The market seems invulnerable to bad news, and that is unusual. On the face of it, it is also scary, suggesting investors are complacent about danger.</p>\n<p>It is far from unprecedented to go a long time without a correction, with 10 episodes since 1963 when the market lasted more than 200 trading days without a 5% drop. But they were different from the recent run. In every other case, the market was far calmer below the surface. This time, major events led to big swings between sectors, size and types of stock, but none disturbed its steady rise.</p>\n<p>Similarly, the stimulus- and vaccine-driven willingness to take risk across every asset class faded from March onward, so we shouldn’t be too concerned about a switch in investor sentiment. Again, it has already happened.</p>\n<p><img src=\"https://static.tigerbbs.com/7d8b995934c7f60fadb5834dd078e232\" tg-width=\"320\" tg-height=\"412\" width=\"100%\" height=\"auto\">Yet,I find it disconcerting that the market seems to go up no matter what. Good news on the economy pushes up stocks sensitive to growth, such as manufacturers and banks. Troubling news on the economy means lower bond yields and so pushes up stocks with profits far in the future (see: Big Tech) whose expansion depends on innovation rather than economic growth, which I understand. That both should push up the wider S&amp;P 500 is what puzzles me.</p>\n<p>The only explanation I have is the old one: “TINA”—There Is No Alternative to Stocks—because yields on alternatives such as bonds are so low. With more savings going into stocks than is cashed out or soaked up by IPOs, the price has to rise. It isn’t a satisfactory story, but it kind of works.</p>\n<p><img src=\"https://static.tigerbbs.com/37942e27b25662943d254580733d2954\" tg-width=\"325\" tg-height=\"413\" width=\"100%\" height=\"auto\">In both good and bad times investors want to buy stocks, so the S&amp;P goes up. But<i>which</i>stocks they choose to buy differs between good and bad times. In good times they want risk-on stocks (cheap value, cyclicals, smaller companies, emerging markets). In bad times they want risk-off stocks (growth, defensive firms, larger companies, developed markets and especially the U.S.).</p>\n<p>The problem with TINA is that the justification for stocks isn’t that they offer good returns in the future, but that they offer better returns than bonds. Bonds offer miserable returns—a guaranteed loss after inflation for 30 years on Treasury inflation-protected securities—so doing better than that isn’t saying much. If lower rewards came with lower risks, that would be fine, but at best the risks are as high as ever, perhaps much higher.</p>\n<p>A simplistic way to quantify how much lower the rewards of stocks are likely to be is to use the earnings yield, the inverse of the forward price/earnings ratio. If companies match analyst profit forecasts, future returns should be about 4%—only slightly higher than was suggested by the measure at the height of the dot-com bubble in 2000. If corporate earnings miss forecasts, future returns could be substantially lower. If valuations fall too, returns are doubly hit, as they were after the dot-com bubble burst, when returns ended up negative for years.</p>\n<p>Quantifying risks is much harder. Inflation risk is higher than before, and so are political (tax and regulation) and geopolitical (trade and supply chain) threats to stocks. The risk that analysts have horribly overestimated earnings or companies are massively overstating earnings is at least as high as usual. Central banks are sure to try to help if stocks plunge, but can’t use the traditional support of rate cuts. Alternative tools such as negative rates and buying a wider range of assets are available, but their risks are less well understood.</p>\n<p>Getting a lower reward for the same or higher risk may still be acceptable, given how expensive the safer alternatives are. But investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the 6.5% or so above inflation of the past century, let alone the 12% above inflation of the past decade.</p>\n<p>The awful choice investors have is to join the monkeys in pretending all is well, or accept the terrible returns of safe assets.</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>Speak No Evil of the S&P 500’s Neverending Records</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\">\nSpeak No Evil of the S&P 500’s Neverending Records\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 15:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/speak-no-evil-of-the-s-p-500s-neverending-records-11630590653?mod=markets_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the chunky returns of the past decade.\n\nThe S&P 500 is like the three wise monkeys: See no evil, hear no ...</p>\n\n<a href=\"https://www.wsj.com/articles/speak-no-evil-of-the-s-p-500s-neverending-records-11630590653?mod=markets_lead_pos5\">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"},"source_url":"https://www.wsj.com/articles/speak-no-evil-of-the-s-p-500s-neverending-records-11630590653?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168498795","content_text":"Investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the chunky returns of the past decade.\n\nThe S&P 500 is like the three wise monkeys: See no evil, hear no evil, speak no evil.Whatever happens, it just goes up. The market has gone up almost in a straight line since November despite a troubling list of events that could each have justified at least a 5% correction. Investors are incredibly resilient.\nSome things that didn’t matter:a burst bubble in clean-energy stocks;a sharp rise in Treasury yields(to March);a big fall in Treasury yields(since March); China’s crackdown on moneymaking; the Federal Reserve’sshift toward tapering bond purchases; and the rise of the Delta variant.\nOn the optimistic side, it is great that the market has been pushed up by a variety of forces, not by wild excess in a single area. We need not worry that the bubble in clean energy will burst and bring down the market, because it has already burst without bringing down the market.\nThroughout all this, the stock market has risen steadily,without a 5% fall since shortly before the election last year. Every time part of the market—technology stocks, cheap stocks, smaller stocks, oil stocks, strong-balance-sheet stocks—stops performing, something else steps in to rescue the broader index. The market seems invulnerable to bad news, and that is unusual. On the face of it, it is also scary, suggesting investors are complacent about danger.\nIt is far from unprecedented to go a long time without a correction, with 10 episodes since 1963 when the market lasted more than 200 trading days without a 5% drop. But they were different from the recent run. In every other case, the market was far calmer below the surface. This time, major events led to big swings between sectors, size and types of stock, but none disturbed its steady rise.\nSimilarly, the stimulus- and vaccine-driven willingness to take risk across every asset class faded from March onward, so we shouldn’t be too concerned about a switch in investor sentiment. Again, it has already happened.\nYet,I find it disconcerting that the market seems to go up no matter what. Good news on the economy pushes up stocks sensitive to growth, such as manufacturers and banks. Troubling news on the economy means lower bond yields and so pushes up stocks with profits far in the future (see: Big Tech) whose expansion depends on innovation rather than economic growth, which I understand. That both should push up the wider S&P 500 is what puzzles me.\nThe only explanation I have is the old one: “TINA”—There Is No Alternative to Stocks—because yields on alternatives such as bonds are so low. With more savings going into stocks than is cashed out or soaked up by IPOs, the price has to rise. It isn’t a satisfactory story, but it kind of works.\nIn both good and bad times investors want to buy stocks, so the S&P goes up. Butwhichstocks they choose to buy differs between good and bad times. In good times they want risk-on stocks (cheap value, cyclicals, smaller companies, emerging markets). In bad times they want risk-off stocks (growth, defensive firms, larger companies, developed markets and especially the U.S.).\nThe problem with TINA is that the justification for stocks isn’t that they offer good returns in the future, but that they offer better returns than bonds. Bonds offer miserable returns—a guaranteed loss after inflation for 30 years on Treasury inflation-protected securities—so doing better than that isn’t saying much. If lower rewards came with lower risks, that would be fine, but at best the risks are as high as ever, perhaps much higher.\nA simplistic way to quantify how much lower the rewards of stocks are likely to be is to use the earnings yield, the inverse of the forward price/earnings ratio. If companies match analyst profit forecasts, future returns should be about 4%—only slightly higher than was suggested by the measure at the height of the dot-com bubble in 2000. If corporate earnings miss forecasts, future returns could be substantially lower. If valuations fall too, returns are doubly hit, as they were after the dot-com bubble burst, when returns ended up negative for years.\nQuantifying risks is much harder. Inflation risk is higher than before, and so are political (tax and regulation) and geopolitical (trade and supply chain) threats to stocks. The risk that analysts have horribly overestimated earnings or companies are massively overstating earnings is at least as high as usual. Central banks are sure to try to help if stocks plunge, but can’t use the traditional support of rate cuts. Alternative tools such as negative rates and buying a wider range of assets are available, but their risks are less well understood.\nGetting a lower reward for the same or higher risk may still be acceptable, given how expensive the safer alternatives are. But investors buying stocks no matter what shouldn’t fool themselves that the future will deliver the 6.5% or so above inflation of the past century, let alone the 12% above inflation of the past decade.\nThe awful choice investors have is to join the monkeys in pretending all is well, or accept the terrible returns of safe assets.","news_type":1},"isVote":1,"tweetType":1,"viewCount":842,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881486835,"gmtCreate":1631376294827,"gmtModify":1676530538403,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like!","listText":"Like!","text":"Like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/881486835","repostId":"1105074635","repostType":4,"isVote":1,"tweetType":1,"viewCount":1114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143030568,"gmtCreate":1625751945254,"gmtModify":1703747820565,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"It will drop..","listText":"It will drop..","text":"It will drop..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/143030568","repostId":"1184325113","repostType":4,"isVote":1,"tweetType":1,"viewCount":184,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141604740,"gmtCreate":1625854416780,"gmtModify":1703749962875,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/141604740","repostId":"1155625151","repostType":4,"isVote":1,"tweetType":1,"viewCount":433,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154329914,"gmtCreate":1625481893938,"gmtModify":1703742467817,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like pls!!","listText":"Like pls!!","text":"Like pls!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/154329914","repostId":"1109703914","repostType":4,"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153820321,"gmtCreate":1625017854563,"gmtModify":1703850203773,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Nope! It will just rise!!","listText":"Nope! It will just rise!!","text":"Nope! It will just rise!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/153820321","repostId":"1187567340","repostType":4,"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155655204,"gmtCreate":1625417148408,"gmtModify":1703741494692,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Great!","listText":"Great!","text":"Great!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/155655204","repostId":"1160702483","repostType":4,"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884854035,"gmtCreate":1631882374127,"gmtModify":1676530660486,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like!!!","listText":"Like!!!","text":"Like!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/884854035","repostId":"1151546238","repostType":4,"repost":{"id":"1151546238","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":1631880659,"share":"https://ttm.financial/m/news/1151546238?lang=&edition=full_marsco","pubTime":"2021-09-17 20:10","market":"us","language":"en","title":"Toplines Before US Market Open on  Friday","url":"https://stock-news.laohu8.com/highlight/detail?id=1151546238","media":"Tiger Newspress","summary":"U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this w","content":"<p>U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks.</p>\n<p>U.S. S&amp;P 500 E-minis were down 10.5 points, or 0.24%, at 08:00 am ET. Dow E-minis were down 65 points, or 0.19%, while Nasdaq 100 E-minis were down 34.5 points, or 0.22%.</p>\n<p><img src=\"https://static.tigerbbs.com/422068c56661ddc3e6e1ffc31f3bd4ca\" tg-width=\"1080\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>FAANG stocks, including Apple Inc&nbsp;and Alphabet Inc, some of the largest tech names on Wall Street, fell slightly in premarket trading.</p>\n<p>Focus now turns to a meeting of the Federal Reserve next week, with investors debating if a swathe of strong economic data this week could spur the bank into shortening its timeline for reducing monetary stimulus.</p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<p><b>Coupang(CPNG)</b> – Softbank’s Vision Fund sold 57 million shares of the South Korean online retailer for about $1.69 billion, according to an SEC filing.Coupang shares fell 0.4% in the premarket.</p>\n<p><b>Lucid(LCID)</b>&nbsp; –&nbsp;EV maker Lucid shares jumped 4.7% in morning trading&nbsp;as&nbsp;its luxury sedan got 520-mile driving range rating.In addition,Bank of America predicts 50% gain in Lucid, compares EV maker to Tesla and Ferrari.</p>\n<p><b>Take-Two Interactive(TTWO) </b>– The video game maker’s stocks fell 1.5% in premarket action after BMO Capital downgraded the stock to “market perform” from “outperform.” BMO’s earnings estimates for Take-Two had been on the high end of Street forecasts, but it said it is now less confident following a series of video game release delays.</p>\n<p><b>Manchester United(MANU)</b> – The soccer team operator reported a quarterly loss that was 5.9% narower than what it lost a year ago amid a 15.9% increase in revenue. Manchester United is not providing full-year revenue or earnings guidance for fiscal 2022 due to uncertainty surrounding the Covid-19 pandemic.</p>\n<p><b>Invesco(IVZ)</b> – The investment management firm is in talks to merge with&nbsp;State Street’s (STT) asset management unit, according to people familiar with the matter who spoke to the Wall Street Journal. Those sources said a deal is not imminent and might not happen at all. Invesco shares surged 4.6% in the premarket, while State Street edged up 0.8%.</p>\n<p><b>Accolade(ACCD)</b> – The provider of workplace benefits management solutions rose 2% in the premarket after Baird upgraded the stock to “outperform” from “neutral.” Baird cited a track record of strong execution and its increasing confidence following recent conversations with management.</p>\n<p><b>Unum(UNM)</b> – Unum is launching a new digital verification tool designed to help companies manage vaccine mandates. The insurer’s product allows workers to report vaccination status and upload documentation as well as helping companies manage exemptions.</p>\n<p><b>Eli Lilly(LLY)</b> – The drugmaker won FDA approval for expansion of the emergency use authorization for its Covid-19 treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.</p>\n<p><b>General Motors(GM)</b> – GM plans to extend downtime at seven North American factories as the worldwide semiconductor shortage continues to crimp production.The&nbsp;shares fell 0.3% in the premarket.</p>\n<p><b>U.S. Steel(X)</b> – U.S. Steel is planning to build a new U.S. steel mill, with construction beginning next year and production planned to kick off in 2024. The move comes amid booming demand for steel as well as prices that have roughly quadrupled since the summer of 2020. Shares fell 2.1% in the premarket.</p>\n<p><b>Zumiez(ZUMZ)</b> – Zumiez shares rose 1% in premarket trading after the streetwear and sports apparel company announced a $150 million stock buyback program.</p>\n<p><b>Diamondback Energy(FANG)</b> – The energy producer announced an accelerated capital return plan and approved a $2 billion stock buyback. Diamondback’s stock rallied 3.7% in premarket trading.</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>Toplines Before US Market Open on  Friday</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\">\nToplines Before US Market Open on  Friday\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\">2021-09-17 20:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks.</p>\n<p>U.S. S&amp;P 500 E-minis were down 10.5 points, or 0.24%, at 08:00 am ET. Dow E-minis were down 65 points, or 0.19%, while Nasdaq 100 E-minis were down 34.5 points, or 0.22%.</p>\n<p><img src=\"https://static.tigerbbs.com/422068c56661ddc3e6e1ffc31f3bd4ca\" tg-width=\"1080\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>FAANG stocks, including Apple Inc&nbsp;and Alphabet Inc, some of the largest tech names on Wall Street, fell slightly in premarket trading.</p>\n<p>Focus now turns to a meeting of the Federal Reserve next week, with investors debating if a swathe of strong economic data this week could spur the bank into shortening its timeline for reducing monetary stimulus.</p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<p><b>Coupang(CPNG)</b> – Softbank’s Vision Fund sold 57 million shares of the South Korean online retailer for about $1.69 billion, according to an SEC filing.Coupang shares fell 0.4% in the premarket.</p>\n<p><b>Lucid(LCID)</b>&nbsp; –&nbsp;EV maker Lucid shares jumped 4.7% in morning trading&nbsp;as&nbsp;its luxury sedan got 520-mile driving range rating.In addition,Bank of America predicts 50% gain in Lucid, compares EV maker to Tesla and Ferrari.</p>\n<p><b>Take-Two Interactive(TTWO) </b>– The video game maker’s stocks fell 1.5% in premarket action after BMO Capital downgraded the stock to “market perform” from “outperform.” BMO’s earnings estimates for Take-Two had been on the high end of Street forecasts, but it said it is now less confident following a series of video game release delays.</p>\n<p><b>Manchester United(MANU)</b> – The soccer team operator reported a quarterly loss that was 5.9% narower than what it lost a year ago amid a 15.9% increase in revenue. Manchester United is not providing full-year revenue or earnings guidance for fiscal 2022 due to uncertainty surrounding the Covid-19 pandemic.</p>\n<p><b>Invesco(IVZ)</b> – The investment management firm is in talks to merge with&nbsp;State Street’s (STT) asset management unit, according to people familiar with the matter who spoke to the Wall Street Journal. Those sources said a deal is not imminent and might not happen at all. Invesco shares surged 4.6% in the premarket, while State Street edged up 0.8%.</p>\n<p><b>Accolade(ACCD)</b> – The provider of workplace benefits management solutions rose 2% in the premarket after Baird upgraded the stock to “outperform” from “neutral.” Baird cited a track record of strong execution and its increasing confidence following recent conversations with management.</p>\n<p><b>Unum(UNM)</b> – Unum is launching a new digital verification tool designed to help companies manage vaccine mandates. The insurer’s product allows workers to report vaccination status and upload documentation as well as helping companies manage exemptions.</p>\n<p><b>Eli Lilly(LLY)</b> – The drugmaker won FDA approval for expansion of the emergency use authorization for its Covid-19 treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.</p>\n<p><b>General Motors(GM)</b> – GM plans to extend downtime at seven North American factories as the worldwide semiconductor shortage continues to crimp production.The&nbsp;shares fell 0.3% in the premarket.</p>\n<p><b>U.S. Steel(X)</b> – U.S. Steel is planning to build a new U.S. steel mill, with construction beginning next year and production planned to kick off in 2024. The move comes amid booming demand for steel as well as prices that have roughly quadrupled since the summer of 2020. Shares fell 2.1% in the premarket.</p>\n<p><b>Zumiez(ZUMZ)</b> – Zumiez shares rose 1% in premarket trading after the streetwear and sports apparel company announced a $150 million stock buyback program.</p>\n<p><b>Diamondback Energy(FANG)</b> – The energy producer announced an accelerated capital return plan and approved a $2 billion stock buyback. Diamondback’s stock rallied 3.7% in premarket trading.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZUMZ":"Zumiez Inc","AAPL":"苹果",".DJI":"道琼斯","LLY":"礼来","IVZ":"美国景顺集团","ACCD":"Accolade, Inc.","FANG":"Diamondback Energy",".IXIC":"NASDAQ Composite","MANU":"曼联","CPNG":"Coupang, Inc.","LCID":"Lucid Group Inc","UNM":"尤纳姆集团","X":"美国钢铁","GM":"通用汽车",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151546238","content_text":"U.S. stock index futures fell on Friday, as steady Treasury yields after strong economic data this week pointed toward more movement out of heavyweight technology stocks.\nU.S. S&P 500 E-minis were down 10.5 points, or 0.24%, at 08:00 am ET. Dow E-minis were down 65 points, or 0.19%, while Nasdaq 100 E-minis were down 34.5 points, or 0.22%.\n\nFAANG stocks, including Apple Inc and Alphabet Inc, some of the largest tech names on Wall Street, fell slightly in premarket trading.\nFocus now turns to a meeting of the Federal Reserve next week, with investors debating if a swathe of strong economic data this week could spur the bank into shortening its timeline for reducing monetary stimulus.\nStocks making the biggest moves premarket:\nCoupang(CPNG) – Softbank’s Vision Fund sold 57 million shares of the South Korean online retailer for about $1.69 billion, according to an SEC filing.Coupang shares fell 0.4% in the premarket.\nLucid(LCID)  – EV maker Lucid shares jumped 4.7% in morning trading as its luxury sedan got 520-mile driving range rating.In addition,Bank of America predicts 50% gain in Lucid, compares EV maker to Tesla and Ferrari.\nTake-Two Interactive(TTWO) – The video game maker’s stocks fell 1.5% in premarket action after BMO Capital downgraded the stock to “market perform” from “outperform.” BMO’s earnings estimates for Take-Two had been on the high end of Street forecasts, but it said it is now less confident following a series of video game release delays.\nManchester United(MANU) – The soccer team operator reported a quarterly loss that was 5.9% narower than what it lost a year ago amid a 15.9% increase in revenue. Manchester United is not providing full-year revenue or earnings guidance for fiscal 2022 due to uncertainty surrounding the Covid-19 pandemic.\nInvesco(IVZ) – The investment management firm is in talks to merge with State Street’s (STT) asset management unit, according to people familiar with the matter who spoke to the Wall Street Journal. Those sources said a deal is not imminent and might not happen at all. Invesco shares surged 4.6% in the premarket, while State Street edged up 0.8%.\nAccolade(ACCD) – The provider of workplace benefits management solutions rose 2% in the premarket after Baird upgraded the stock to “outperform” from “neutral.” Baird cited a track record of strong execution and its increasing confidence following recent conversations with management.\nUnum(UNM) – Unum is launching a new digital verification tool designed to help companies manage vaccine mandates. The insurer’s product allows workers to report vaccination status and upload documentation as well as helping companies manage exemptions.\nEli Lilly(LLY) – The drugmaker won FDA approval for expansion of the emergency use authorization for its Covid-19 treatment. The treatment can now be used in patients who could have a high risk of infection after being exposed to someone with Covid.\nGeneral Motors(GM) – GM plans to extend downtime at seven North American factories as the worldwide semiconductor shortage continues to crimp production.The shares fell 0.3% in the premarket.\nU.S. Steel(X) – U.S. Steel is planning to build a new U.S. steel mill, with construction beginning next year and production planned to kick off in 2024. The move comes amid booming demand for steel as well as prices that have roughly quadrupled since the summer of 2020. Shares fell 2.1% in the premarket.\nZumiez(ZUMZ) – Zumiez shares rose 1% in premarket trading after the streetwear and sports apparel company announced a $150 million stock buyback program.\nDiamondback Energy(FANG) – The energy producer announced an accelerated capital return plan and approved a $2 billion stock buyback. Diamondback’s stock rallied 3.7% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1070,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173088557,"gmtCreate":1626586105279,"gmtModify":1703762084444,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Really??","listText":"Really??","text":"Really??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/173088557","repostId":"2152897876","repostType":4,"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145612326,"gmtCreate":1626221010265,"gmtModify":1703755678080,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Great! Like pls!","listText":"Great! Like pls!","text":"Great! Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/145612326","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148324970,"gmtCreate":1625933897990,"gmtModify":1703751039049,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Like!","listText":"Like!","text":"Like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/148324970","repostId":"1159307278","repostType":4,"isVote":1,"tweetType":1,"viewCount":400,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148766602,"gmtCreate":1626018756306,"gmtModify":1703752000436,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"It will confirm rise!!","listText":"It will confirm rise!!","text":"It will confirm rise!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/148766602","repostId":"1112201050","repostType":4,"isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143033948,"gmtCreate":1625751978184,"gmtModify":1703747822690,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Having good vibe!!!","listText":"Having good vibe!!!","text":"Having good vibe!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143033948","repostId":"1197668591","repostType":4,"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158175626,"gmtCreate":1625141122865,"gmtModify":1703736946603,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Renewable is the future","listText":"Renewable is the future","text":"Renewable is the future","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/158175626","repostId":"1193261923","repostType":4,"isVote":1,"tweetType":1,"viewCount":444,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3583568085402852","authorId":"3583568085402852","name":"IsaacYap90","avatar":"https://static.tigerbbs.com/40f66d0266826bb209ee22688d7bbde5","crmLevel":2,"crmLevelSwitch":0,"idStr":"3583568085402852","authorIdStr":"3583568085402852"},"content":"There are few stocks that have as wide a gap in terms of analysts’ expectations as that of General Electric Company (GE). Forexample, a bearish Steve Tusa has a price target of $5 while UBS gives $17","text":"There are few stocks that have as wide a gap in terms of analysts’ expectations as that of General Electric Company (GE). Forexample, a bearish Steve Tusa has a price target of $5 while UBS gives $17","html":"There are few stocks that have as wide a gap in terms of analysts’ expectations as that of General Electric Company (GE). Forexample, a bearish Steve Tusa has a price target of $5 while UBS gives $17"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124914553,"gmtCreate":1624718676972,"gmtModify":1703844079281,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Will this affect their stock negatively?","listText":"Will this affect their stock negatively?","text":"Will this affect their stock negatively?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/124914553","repostId":"1132692662","repostType":4,"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803869769,"gmtCreate":1627432306851,"gmtModify":1703489758489,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Why is the share price continue to drop?","listText":"Why is the share price continue to drop?","text":"Why is the share price continue to drop?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/803869769","repostId":"2154491203","repostType":2,"isVote":1,"tweetType":1,"viewCount":1192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176313341,"gmtCreate":1626860836483,"gmtModify":1703479456616,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Nice!!","listText":"Nice!!","text":"Nice!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/176313341","repostId":"1179602567","repostType":4,"isVote":1,"tweetType":1,"viewCount":380,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165600709,"gmtCreate":1624120780401,"gmtModify":1703829099014,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Why?","listText":"Why?","text":"Why?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/165600709","repostId":"2144770312","repostType":2,"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813790825,"gmtCreate":1630242869967,"gmtModify":1676530249733,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Nice!! Like","listText":"Nice!! Like","text":"Nice!! Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/813790825","repostId":"1184130616","repostType":4,"repost":{"id":"1184130616","kind":"news","pubTimestamp":1630111537,"share":"https://ttm.financial/m/news/1184130616?lang=&edition=full_marsco","pubTime":"2021-08-28 08:45","market":"us","language":"en","title":"Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers","url":"https://stock-news.laohu8.com/highlight/detail?id=1184130616","media":"Benzinga","summary":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the head","content":"<p><i>Does crime pay?</i></p>\n<p>Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,<b>Bernard Ebbers</b>physically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.</p>\n<p>Ebbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”</p>\n<p><b>But ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.</b></p>\n<p><b>A Man In Search Of Himself:</b>&nbsp;Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.</p>\n<p>The Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He&nbsp;attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.</p>\n<p>Ebbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,<b>Linda Pigott,</b>after graduating and landed work teaching science to middle-school students while coaching high school basketball.</p>\n<p>But Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.</p>\n<p>Ebbers’ approach to running a hospitality establishment sometimes bordered on the eccentric.&nbsp;He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.</p>\n<p><b>Calling Out Around The World:</b>Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup of<b>AT&amp;T Inc.'s</b>&nbsp;T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.</p>\n<p>In 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.</p>\n<p>Ebbers and his pals decided to get into the telecommunications business with&nbsp;<b>Long Distance Discount Services,</b>&nbsp;which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.</p>\n<p><b>Carl J. Aycock,</b>a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.</p>\n<p>“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.</p>\n<p>Maybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.</p>\n<p>Within 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in&nbsp;sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.</p>\n<p>Many of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of&nbsp;<b>Advanced Telecommunications Corporation</b>&nbsp;in 1992.</p>\n<p>The unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&amp;T and&nbsp;<b>Sprint Corporation,</b>both considerably larger players in this field.</p>\n<p>The one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to&nbsp;<b>Kristie Webb.</b></p>\n<p>In February 1998, Ebbers’ company launched its acquisition plans for&nbsp;<b>CompuServe</b>&nbsp;from&nbsp;<b>H&amp;R Block Inc</b>.</p>\n<p>This transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition to<b>America Online,</b>while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.</p>\n<p>In September 1998, LDDS WorldCom sealed a $37 billion union with&nbsp;<b>MCI Communications,</b>which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit —&nbsp;except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.</p>\n<p><b>A Little Out Of Touch:</b>One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.</p>\n<p>At the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.</p>\n<p>“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”</p>\n<p>But as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.</p>\n<p>And for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”</p>\n<p>While Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.</p>\n<p><b>In retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw</b>, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.</p>\n<p><b>Detour Off The Cliff:</b>The first cracks in this corporate story began in October 1999 when MCI WorldCom —&nbsp;which had become the second-largest long-distance telephone company in the country —&nbsp;announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.</p>\n<p>With the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.</p>\n<p>Worldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a&nbsp;senior manager ordering&nbsp;a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.</p>\n<p>The company’s chief technical officer,<b>Fred Briggs,</b>then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project —&nbsp;and his directive was shared with other divisions in the company.</p>\n<p>A WorldCom budget analyst named&nbsp;<b>Kim Amigh</b>in the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh —&nbsp;three months after his action, Amigh was abruptly laid off from the company.</p>\n<p>But Vice President of Internal Audit&nbsp;<b>Cynthia Cooper</b>&nbsp;learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 —&nbsp;except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.</p>\n<p>Cooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.</p>\n<p>And Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.</p>\n<p>Adding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.</p>\n<p>To alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000&nbsp;— and then borrowed again&nbsp;and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.</p>\n<p>In June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure&nbsp;later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.</p>\n<p><b>Road’s End:</b>The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.</p>\n<p>Ebbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.</p>\n<p>“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”</p>\n<p>Ebbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.</p>\n<p>He remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.</p>\n<p>After 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.</p>\n<p>In defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.</p>\n<p>Said Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”</p>\n<p></p>","source":"lsy1606299360108","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>Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers</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\">\nWall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184130616","content_text":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.\nEbbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”\nBut ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.\nA Man In Search Of Himself: Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.\nThe Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.\nEbbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,Linda Pigott,after graduating and landed work teaching science to middle-school students while coaching high school basketball.\nBut Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.\nEbbers’ approach to running a hospitality establishment sometimes bordered on the eccentric. He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.\nCalling Out Around The World:Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup ofAT&T Inc.'s T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.\nIn 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.\nEbbers and his pals decided to get into the telecommunications business with Long Distance Discount Services, which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.\nCarl J. Aycock,a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.\n“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.\nMaybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.\nWithin 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.\nMany of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of Advanced Telecommunications Corporation in 1992.\nThe unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&T and Sprint Corporation,both considerably larger players in this field.\nThe one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to Kristie Webb.\nIn February 1998, Ebbers’ company launched its acquisition plans for CompuServe from H&R Block Inc.\nThis transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition toAmerica Online,while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.\nIn September 1998, LDDS WorldCom sealed a $37 billion union with MCI Communications,which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit — except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.\nA Little Out Of Touch:One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.\nAt the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.\n“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”\nBut as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.\nAnd for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”\nWhile Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.\nIn retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.\nDetour Off The Cliff:The first cracks in this corporate story began in October 1999 when MCI WorldCom — which had become the second-largest long-distance telephone company in the country — announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.\nWith the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.\nWorldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a senior manager ordering a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.\nThe company’s chief technical officer,Fred Briggs,then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project — and his directive was shared with other divisions in the company.\nA WorldCom budget analyst named Kim Amighin the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh — three months after his action, Amigh was abruptly laid off from the company.\nBut Vice President of Internal Audit Cynthia Cooper learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 — except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.\nCooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.\nAnd Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.\nAdding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.\nTo alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000 — and then borrowed again and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.\nIn June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.\nRoad’s End:The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.\nEbbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.\n“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”\nEbbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.\nHe remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.\nAfter 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.\nIn defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.\nSaid Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174619632,"gmtCreate":1627094367526,"gmtModify":1703484149716,"author":{"id":"3575517733011286","authorId":"3575517733011286","name":"UpUpUpUpUp","avatar":"https://static.tigerbbs.com/f92e5e26e6e720eda3643248da3c21eb","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575517733011286","authorIdStr":"3575517733011286"},"themes":[],"htmlText":"Good job!!","listText":"Good job!!","text":"Good job!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/174619632","repostId":"1151500518","repostType":4,"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}