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2021-07-14

Good news all around

Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate

2021-06-16

Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.

It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks

2021-06-16

Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...

It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks

2021-06-10

All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...

3 Upcoming Policy Shifts That Could Impact The Stock Market

2021-06-10

Funny how the news doesn't share the predictability rate

This robot-run fund thinks GameStop stock will soar in June, and predicts a fall for Tesla and Amazon

2021-06-09

More to come...

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2021-05-19

Go gold or go home

Crypto stocks tumbled in premarket trading

2021-04-23

Golden words!

Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’

2021-04-23

Because of GME?! Hahaha

Biden to float historic tax increase on investment gains for the rich

2021-04-16

Oh wow! If it's true, then I can't wait! More cheap stocks to come

Einhorn: "The Market Is Fractured And In The Process Of Breaking Completely"

2021-04-15

Should be MORE!

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2021-04-12

I'm not convinced...

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2021-04-07

I am holding my breath for MSFT

Sorry, the original content has been removed

2021-04-06

Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.

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

2021-03-30

Everyone is hedging on BTC?

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2021-03-29

Time to buy some Bank stocks! Pls like or comment ?

Bank stocks drop after Archegos Capital collapses

2021-03-29

Nutters

Large block trades tied to Archegos raise worries about trading this week

2021-03-22

It's anybody's guess, how GME will turn out... But the biggest winner is still GME the company itself...

Here's How To Watch GameStop's Earnings Report This Tuesday

2021-03-17

Longing BAC

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2021-03-15

I think GME will not stop Until it reaches 1500...

Sorry, the original content has been removed

Go to Tiger App to see more news

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The release, however, was lower than the $2.7 billion it had set aside in the previous quarter.</p>\n<p>Overall revenue, net of interest expense, dropped 4% to $21.5 billion.</p>\n<p>Bank&nbsp;of&nbsp;America&nbsp;shares&nbsp;fell&nbsp;2%&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/afdc90bc748a5b7b5f8f4aa42de529dc\" tg-width=\"1280\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate</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\">\nBank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-07-14 18:46</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate.</p>\n<p>Bank of America Corp reported a jump in second-quarter profit on Wednesday as it released reserves it had set aside last year to cover potential loan losses tied to the pandemic.</p>\n<p>The bank’s net income applicable to common shareholders rose to $8.96 billion, or $1.03 per share, from $3.28 billion, or 37 cents per share, a year earlier.</p>\n<p>Analysts on average had expected a profit of 77 cents per share, according to IBES estimate from Refinitiv.</p>\n<p>The Federal Reserve last year brought in ultra-low interest rates to allow for a more rapid recovery from the pandemic-induced recession. Such low rates eat into the income of lenders like Bank of America, which make profit from the difference between what they earn on loans and pay out on deposits.</p>\n<p>Strong momentum in job growth and vaccinations against COVID-19 have underpinned a recovery in the broader economy, However, Wall Street’s biggest banks are still expected to feel the pinch from low rates.</p>\n<p>Executives at JPMorgan Chase &amp; Co warned on Tuesday that the sunny outlook for the U.S. economy would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.</p>\n<p>Bank of America, the second-largest U.S. bank by assets, released $2.2 billion of reserves in the quarter, reflecting the improved economic outlook. The release, however, was lower than the $2.7 billion it had set aside in the previous quarter.</p>\n<p>Overall revenue, net of interest expense, dropped 4% to $21.5 billion.</p>\n<p>Bank&nbsp;of&nbsp;America&nbsp;shares&nbsp;fell&nbsp;2%&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/afdc90bc748a5b7b5f8f4aa42de529dc\" tg-width=\"1280\" tg-height=\"622\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","QTWO":"Q2 Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151158165","content_text":"Bank of America Q2 EPS $1.03 Beats $0.77 Estimate, Sales $21.50B Miss $21.83B Estimate.\nBank of America Corp reported a jump in second-quarter profit on Wednesday as it released reserves it had set aside last year to cover potential loan losses tied to the pandemic.\nThe bank’s net income applicable to common shareholders rose to $8.96 billion, or $1.03 per share, from $3.28 billion, or 37 cents per share, a year earlier.\nAnalysts on average had expected a profit of 77 cents per share, according to IBES estimate from Refinitiv.\nThe Federal Reserve last year brought in ultra-low interest rates to allow for a more rapid recovery from the pandemic-induced recession. Such low rates eat into the income of lenders like Bank of America, which make profit from the difference between what they earn on loans and pay out on deposits.\nStrong momentum in job growth and vaccinations against COVID-19 have underpinned a recovery in the broader economy, However, Wall Street’s biggest banks are still expected to feel the pinch from low rates.\nExecutives at JPMorgan Chase & Co warned on Tuesday that the sunny outlook for the U.S. economy would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.\nBank of America, the second-largest U.S. bank by assets, released $2.2 billion of reserves in the quarter, reflecting the improved economic outlook. The release, however, was lower than the $2.7 billion it had set aside in the previous quarter.\nOverall revenue, net of interest expense, dropped 4% to $21.5 billion.\nBank of America shares fell 2% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169376846,"gmtCreate":1623819188885,"gmtModify":1703820464118,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","listText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","text":"Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169376846","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169371531,"gmtCreate":1623819119623,"gmtModify":1703820461313,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost&nbsp;averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...&nbsp;","listText":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost&nbsp;averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...&nbsp;","text":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169371531","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183923469,"gmtCreate":1623301611751,"gmtModify":1704200440761,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...&nbsp;","listText":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...&nbsp;","text":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183923469","repostId":"1198956414","repostType":4,"repost":{"id":"1198956414","pubTimestamp":1623296182,"share":"https://ttm.financial/m/news/1198956414?lang=&edition=fundamental","pubTime":"2021-06-10 11:36","market":"us","language":"en","title":"3 Upcoming Policy Shifts That Could Impact The Stock Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1198956414","media":"benzinga","summary":"The S&P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. T","content":"<p>The S&amp;P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. The&nbsp;<b>SPDR S&amp;P 500 ETF</b>&nbsp;is up another 13.2% year to date, driven in large part by aggressive stimulus policies out of Washington.</p>\n<p>Looking ahead, LPL Research Asset Allocation Strategist&nbsp;<b>Barry Gilbert</b>&nbsp;said policy changes could continue to drive the stock market in coming quarters, but they may flip from a tailwind to headwind.</p>\n<p>In a new report this week, Gilbert highlighted three potential federal policy changes investors should be monitoring throughout the remainder of 2021.</p>\n<p><b>1. Stimulus:</b>First, Gilbert said an end to the approximately $5 trillion in direct COVID-19 stimulus spending will mark a clear change for markets moving forward. However, he said investors shouldn’t necessarily be concerned about the market being weaned off of stimulus unless organic economic growth starts to disappoint.</p>\n<p>LPL is projecting above-average U.S. economic growth through at least 2022, which should be more than enough to make up for a lack of government stimulus.</p>\n<p><b>2. Taxes:</b>Second, Gilbert said one of the biggest risks to the bull market is corporate tax hikes.</p>\n<p>In December 2017, former&nbsp;<b>President Donald Trump</b>&nbsp;cut the top U.S. corporate tax rate from 35% to 21%, marking the first time since the 1940s the top corporate tax rate had dropped below 30%.<b>President Joe Biden</b>&nbsp;has proposed raising that rate back up to 28%, but Gilbert expects the final rate after negotiations with Republicans will be closer to 25%.</p>\n<p>“While we don’t think higher rates would be retroactive, they could take away some of the momentum from recent upside surprises in earnings growth we’ve seen so far in 2021 and contribute to a choppier market,” Gilbert said.</p>\n<p>Biden has also proposed raising the top income tax rate from 37% to 39.6% and raising the capital gains tax rate on Americans earning more than $1 million per year from a maximum of 23.8% to 43.4%.</p>\n<p><b>3. Midterms:</b>Finally, Gilbert said long-term investors should keep an eye on how the 2022 midterm election season plays out. While it's still very early at this point, history suggests the party that controls the White House tends to have a difficult time holding onto the House in the midterm elections, and Gilbert said the stock market has historically performed very well under a mixed government.</p>\n<p><b>Benzinga’s Take:</b>Corporate tax hikes are seemingly the most significant potential policy overhang for the stock market. However, LPL’s prediction of around a 25% corporate tax rate seems very manageable considering it still represents a net 10% cut from pre-2018 levels.</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>3 Upcoming Policy Shifts That Could Impact The Stock Market</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\">\n3 Upcoming Policy Shifts That Could Impact The Stock Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-10 11:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. The SPDR S&P 500 ETF is up another 13.2% year to date, driven in large part by aggressive stimulus ...</p>\n\n<a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.benzinga.com/analyst-ratings/analyst-color/21/06/21496059/3-upcoming-policy-shifts-that-could-impact-the-stock-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198956414","content_text":"The S&P 500’s bullish momentum in the second half of 2020 has continued in the first half of 2021. The SPDR S&P 500 ETF is up another 13.2% year to date, driven in large part by aggressive stimulus policies out of Washington.\nLooking ahead, LPL Research Asset Allocation Strategist Barry Gilbert said policy changes could continue to drive the stock market in coming quarters, but they may flip from a tailwind to headwind.\nIn a new report this week, Gilbert highlighted three potential federal policy changes investors should be monitoring throughout the remainder of 2021.\n1. Stimulus:First, Gilbert said an end to the approximately $5 trillion in direct COVID-19 stimulus spending will mark a clear change for markets moving forward. However, he said investors shouldn’t necessarily be concerned about the market being weaned off of stimulus unless organic economic growth starts to disappoint.\nLPL is projecting above-average U.S. economic growth through at least 2022, which should be more than enough to make up for a lack of government stimulus.\n2. Taxes:Second, Gilbert said one of the biggest risks to the bull market is corporate tax hikes.\nIn December 2017, former President Donald Trump cut the top U.S. corporate tax rate from 35% to 21%, marking the first time since the 1940s the top corporate tax rate had dropped below 30%.President Joe Biden has proposed raising that rate back up to 28%, but Gilbert expects the final rate after negotiations with Republicans will be closer to 25%.\n“While we don’t think higher rates would be retroactive, they could take away some of the momentum from recent upside surprises in earnings growth we’ve seen so far in 2021 and contribute to a choppier market,” Gilbert said.\nBiden has also proposed raising the top income tax rate from 37% to 39.6% and raising the capital gains tax rate on Americans earning more than $1 million per year from a maximum of 23.8% to 43.4%.\n3. Midterms:Finally, Gilbert said long-term investors should keep an eye on how the 2022 midterm election season plays out. While it's still very early at this point, history suggests the party that controls the White House tends to have a difficult time holding onto the House in the midterm elections, and Gilbert said the stock market has historically performed very well under a mixed government.\nBenzinga’s Take:Corporate tax hikes are seemingly the most significant potential policy overhang for the stock market. However, LPL’s prediction of around a 25% corporate tax rate seems very manageable considering it still represents a net 10% cut from pre-2018 levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183967887,"gmtCreate":1623301370649,"gmtModify":1704200432334,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Funny how the news doesn't share the predictability rate","listText":"Funny how the news doesn't share the predictability rate","text":"Funny how the news doesn't share the predictability rate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183967887","repostId":"2142210925","repostType":4,"repost":{"id":"2142210925","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623289980,"share":"https://ttm.financial/m/news/2142210925?lang=&edition=fundamental","pubTime":"2021-06-10 09:53","market":"us","language":"en","title":"This robot-run fund thinks GameStop stock will soar in June, and predicts a fall for Tesla and Amazon","url":"https://stock-news.laohu8.com/highlight/detail?id=2142210925","media":"Dow Jones","summary":"Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the","content":"<p>Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the AMOM fund on June 2</p>\n<p>An exchange-traded fund driven by artificial intelligence booted Tesla and Amazon from its portfolio in June, instead choosing to load up on shares of companies including Qualcomm, Snap and GameStop.</p>\n<p>The Qraft AI-Enhanced U.S. Large Cap Momentum ETF, trading as AMOM <a href=\"https://laohu8.com/S/AMOM\">$(AMOM)$</a> on the New York Stock Exchange, removed major technology companies from its portfolio this month, as it shifted to favor retailers and other post-pandemic trades.</p>\n<p>Electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> and online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> represented two of the fund's three largest holdings in May, but were completely removed in the latest rebalancing on June 2, along with graphics microchip maker Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, which was its sixth-largest holding. The artificial-intelligence program controlling the fund believes these stocks will see price declines across the coming month.</p>\n<p>The standout among the stocks added in June was GameStop <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>, the videogame retailer that epitomized the \"meme stock\" trading frenzy that began in late January.</p>\n<p>This was when a flock of investors, largely organized on social media platform Reddit, helped squeeze hedge funds' short positions on companies including GameStop, cinema chain AMC <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, and tech group BlackBerry (BB.T) earlier this year. The trading frenzy caused multibillion-dollar losses for hedge funds, unbelievable gains for individuals that timed it right, and ushered in a new era of internet-inspired trading.</p>\n<p>GameStop's stock price rose almost 10-fold from Jan. 15 to Jan. 27, from $35 per share to nearly $350. The stock is currently trading around $300 and makes up around 1% of AMOM. And now the AI calling the shots thinks it will move even higher in June, and the shares have already gained more than 6% since the stock was added to the fund for the first time.</p>\n<p>\"Few fund managers would take the risk of adding a meme stock to their portfolios, but Qraft's AI model has no such prejudices,\" said Geeseok Oh, a managing director at Qraft and the head of its Asia-Pacific business.</p>\n<p>The top five stocks by portfolio weight added to AMOM in June include semiconductor group Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>, Big Tobacco company Philip Morris <a href=\"https://laohu8.com/S/PM\">$(PM)$</a>, social-media player Snap <a href=\"https://laohu8.com/S/SNAP\">$(SNAP)$</a>, medical technology specialists Edwards Lifesciences <a href=\"https://laohu8.com/S/EW\">$(EW)$</a>, and orthodontics group Align Technology <a href=\"https://laohu8.com/S/ALGN\">$(ALGN)$</a>.</p>\n<p>After the fund was rebalanced, AMOM's top five largest holdings by portfolio weight were tech giant <a href=\"https://laohu8.com/S/FB\">Facebook</a> (FB), retailers Walmart <a href=\"https://laohu8.com/S/WMT\">$(WMT)$</a> and Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, software company Adobe <a href=\"https://laohu8.com/S/ADBE\">$(ADBE)$</a>, and semiconductor manufacturing company Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>.</p>\n<p>\"This month, AMOM's portfolio appears to be shifting towards post-pandemic trades, a bit more diversified of a portfolio from the previous month's big tech-heavy strategy,\" said Oh.</p>\n<p>AMOM's decision to remove Tesla from its portfolio came after a bullish bet failed to pay off. The fund bought around $1.4 million worth of shares in the electric-vehicle company in May after avoiding the stock for months, and shares in Tesla fell 7% before the AI ditched it from the fund. This mistake with Tesla was a rare occurrence for the robot controlling AMOM, which otherwise has a strong record of predicting moves in the company's share price .</p>\n<p>AMOM has been listed in New York since May 2019, and has delivered total returns of 11% so far in 2021 and 53% in the past year -- outpacing its benchmark, the S&amp;P 500 Momentum index , which has climbed a comparable 26% in the past year.</p>\n<p>AMOM is an actively managed portfolio driven by artificial intelligence, tracking 50 large-cap U.S. stocks and reweighting its holdings each month. It is based on a momentum strategy, with the AI behind its stock picks capitalizing on the movements of existing market trends to inform the decision to add, remove, or reweight holdings. The artificial intelligence scans the market and uses its predictive power to analyze a wide set of patterns that show stock-market momentum.</p>\n<p>The fund is a product of Qraft, a Seoul, South Korea-based fintech group leveraging AI across its investment products, which include three other AI-picked versions of major indexes: a U.S. large cap index <a href=\"https://laohu8.com/S/QRFT\">$(QRFT)$</a>; a U.S. large cap dividend index <a href=\"https://laohu8.com/S/HDIV.UK\">$(HDIV.UK)$</a>; and a U.S. value index <a href=\"https://laohu8.com/S/NVQ\">$(NVQ)$</a>.</p>\n<p>The entrance of AI-run funds onto Wall Street promised a new high-tech future for investing, though it hasn't quite lived up to the hype yet. Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis , when tested against historical data.</p>\n<p>But Vasant Dhar, a professor at New York University's Stern School of Business and the founder of machine-learning-based hedge fund SCT Capital Management, argued on MarketWatch in June 2020 that AI-run funds won't \"crack\" the code of the stock market.</p>\n<p>Advocating caution, Dhar said that it was difficult for funds underpinned by machine learning to maintain a sustainable edge over markets, which have \"a nonstationary and adversarial nature.\" He advised investors considering an AI system to ask tough questions, including how likely it is that the AI's \"edge\" will persist into the future, and what the inherent uncertainties and range of performance outcomes for the fund are.</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>This robot-run fund thinks GameStop stock will soar in June, and predicts a fall for Tesla and Amazon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis robot-run fund thinks GameStop stock will soar in June, and predicts a fall for Tesla and Amazon\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-10 09:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the AMOM fund on June 2</p>\n<p>An exchange-traded fund driven by artificial intelligence booted Tesla and Amazon from its portfolio in June, instead choosing to load up on shares of companies including Qualcomm, Snap and GameStop.</p>\n<p>The Qraft AI-Enhanced U.S. Large Cap Momentum ETF, trading as AMOM <a href=\"https://laohu8.com/S/AMOM\">$(AMOM)$</a> on the New York Stock Exchange, removed major technology companies from its portfolio this month, as it shifted to favor retailers and other post-pandemic trades.</p>\n<p>Electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> and online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> represented two of the fund's three largest holdings in May, but were completely removed in the latest rebalancing on June 2, along with graphics microchip maker Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, which was its sixth-largest holding. The artificial-intelligence program controlling the fund believes these stocks will see price declines across the coming month.</p>\n<p>The standout among the stocks added in June was GameStop <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>, the videogame retailer that epitomized the \"meme stock\" trading frenzy that began in late January.</p>\n<p>This was when a flock of investors, largely organized on social media platform Reddit, helped squeeze hedge funds' short positions on companies including GameStop, cinema chain AMC <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, and tech group BlackBerry (BB.T) earlier this year. The trading frenzy caused multibillion-dollar losses for hedge funds, unbelievable gains for individuals that timed it right, and ushered in a new era of internet-inspired trading.</p>\n<p>GameStop's stock price rose almost 10-fold from Jan. 15 to Jan. 27, from $35 per share to nearly $350. The stock is currently trading around $300 and makes up around 1% of AMOM. And now the AI calling the shots thinks it will move even higher in June, and the shares have already gained more than 6% since the stock was added to the fund for the first time.</p>\n<p>\"Few fund managers would take the risk of adding a meme stock to their portfolios, but Qraft's AI model has no such prejudices,\" said Geeseok Oh, a managing director at Qraft and the head of its Asia-Pacific business.</p>\n<p>The top five stocks by portfolio weight added to AMOM in June include semiconductor group Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>, Big Tobacco company Philip Morris <a href=\"https://laohu8.com/S/PM\">$(PM)$</a>, social-media player Snap <a href=\"https://laohu8.com/S/SNAP\">$(SNAP)$</a>, medical technology specialists Edwards Lifesciences <a href=\"https://laohu8.com/S/EW\">$(EW)$</a>, and orthodontics group Align Technology <a href=\"https://laohu8.com/S/ALGN\">$(ALGN)$</a>.</p>\n<p>After the fund was rebalanced, AMOM's top five largest holdings by portfolio weight were tech giant <a href=\"https://laohu8.com/S/FB\">Facebook</a> (FB), retailers Walmart <a href=\"https://laohu8.com/S/WMT\">$(WMT)$</a> and Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, software company Adobe <a href=\"https://laohu8.com/S/ADBE\">$(ADBE)$</a>, and semiconductor manufacturing company Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>.</p>\n<p>\"This month, AMOM's portfolio appears to be shifting towards post-pandemic trades, a bit more diversified of a portfolio from the previous month's big tech-heavy strategy,\" said Oh.</p>\n<p>AMOM's decision to remove Tesla from its portfolio came after a bullish bet failed to pay off. The fund bought around $1.4 million worth of shares in the electric-vehicle company in May after avoiding the stock for months, and shares in Tesla fell 7% before the AI ditched it from the fund. This mistake with Tesla was a rare occurrence for the robot controlling AMOM, which otherwise has a strong record of predicting moves in the company's share price .</p>\n<p>AMOM has been listed in New York since May 2019, and has delivered total returns of 11% so far in 2021 and 53% in the past year -- outpacing its benchmark, the S&amp;P 500 Momentum index , which has climbed a comparable 26% in the past year.</p>\n<p>AMOM is an actively managed portfolio driven by artificial intelligence, tracking 50 large-cap U.S. stocks and reweighting its holdings each month. It is based on a momentum strategy, with the AI behind its stock picks capitalizing on the movements of existing market trends to inform the decision to add, remove, or reweight holdings. The artificial intelligence scans the market and uses its predictive power to analyze a wide set of patterns that show stock-market momentum.</p>\n<p>The fund is a product of Qraft, a Seoul, South Korea-based fintech group leveraging AI across its investment products, which include three other AI-picked versions of major indexes: a U.S. large cap index <a href=\"https://laohu8.com/S/QRFT\">$(QRFT)$</a>; a U.S. large cap dividend index <a href=\"https://laohu8.com/S/HDIV.UK\">$(HDIV.UK)$</a>; and a U.S. value index <a href=\"https://laohu8.com/S/NVQ\">$(NVQ)$</a>.</p>\n<p>The entrance of AI-run funds onto Wall Street promised a new high-tech future for investing, though it hasn't quite lived up to the hype yet. Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis , when tested against historical data.</p>\n<p>But Vasant Dhar, a professor at New York University's Stern School of Business and the founder of machine-learning-based hedge fund SCT Capital Management, argued on MarketWatch in June 2020 that AI-run funds won't \"crack\" the code of the stock market.</p>\n<p>Advocating caution, Dhar said that it was difficult for funds underpinned by machine learning to maintain a sustainable edge over markets, which have \"a nonstationary and adversarial nature.\" He advised investors considering an AI system to ask tough questions, including how likely it is that the AI's \"edge\" will persist into the future, and what the inherent uncertainties and range of performance outcomes for the fund are.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","09086":"华夏纳指-U","QCOM":"高通","GME":"游戏驿站","TSLA":"特斯拉","ALGN":"艾利科技","HD":"家得宝","TXN":"德州仪器","QNETCN":"纳斯达克中美互联网老虎指数","03086":"华夏纳指","ADBE":"Adobe","WMT":"沃尔玛","SNAP":"Snap Inc","AMOM":"QRAFT AI-Enhanced U.S. Large Cap Momentum ETF","PM":"菲利普莫里斯","AMZN":"亚马逊","EW":"爱德华兹"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142210925","content_text":"Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the AMOM fund on June 2\nAn exchange-traded fund driven by artificial intelligence booted Tesla and Amazon from its portfolio in June, instead choosing to load up on shares of companies including Qualcomm, Snap and GameStop.\nThe Qraft AI-Enhanced U.S. Large Cap Momentum ETF, trading as AMOM $(AMOM)$ on the New York Stock Exchange, removed major technology companies from its portfolio this month, as it shifted to favor retailers and other post-pandemic trades.\nElectric-car maker Tesla $(TSLA)$ and online retailer Amazon $(AMZN)$ represented two of the fund's three largest holdings in May, but were completely removed in the latest rebalancing on June 2, along with graphics microchip maker Nvidia $(NVDA)$, which was its sixth-largest holding. The artificial-intelligence program controlling the fund believes these stocks will see price declines across the coming month.\nThe standout among the stocks added in June was GameStop $(GME)$, the videogame retailer that epitomized the \"meme stock\" trading frenzy that began in late January.\nThis was when a flock of investors, largely organized on social media platform Reddit, helped squeeze hedge funds' short positions on companies including GameStop, cinema chain AMC $(AMC)$, and tech group BlackBerry (BB.T) earlier this year. The trading frenzy caused multibillion-dollar losses for hedge funds, unbelievable gains for individuals that timed it right, and ushered in a new era of internet-inspired trading.\nGameStop's stock price rose almost 10-fold from Jan. 15 to Jan. 27, from $35 per share to nearly $350. The stock is currently trading around $300 and makes up around 1% of AMOM. And now the AI calling the shots thinks it will move even higher in June, and the shares have already gained more than 6% since the stock was added to the fund for the first time.\n\"Few fund managers would take the risk of adding a meme stock to their portfolios, but Qraft's AI model has no such prejudices,\" said Geeseok Oh, a managing director at Qraft and the head of its Asia-Pacific business.\nThe top five stocks by portfolio weight added to AMOM in June include semiconductor group Qualcomm $(QCOM)$, Big Tobacco company Philip Morris $(PM)$, social-media player Snap $(SNAP)$, medical technology specialists Edwards Lifesciences $(EW)$, and orthodontics group Align Technology $(ALGN)$.\nAfter the fund was rebalanced, AMOM's top five largest holdings by portfolio weight were tech giant Facebook (FB), retailers Walmart $(WMT)$ and Home Depot $(HD)$, software company Adobe $(ADBE)$, and semiconductor manufacturing company Texas Instruments $(TXN)$.\n\"This month, AMOM's portfolio appears to be shifting towards post-pandemic trades, a bit more diversified of a portfolio from the previous month's big tech-heavy strategy,\" said Oh.\nAMOM's decision to remove Tesla from its portfolio came after a bullish bet failed to pay off. The fund bought around $1.4 million worth of shares in the electric-vehicle company in May after avoiding the stock for months, and shares in Tesla fell 7% before the AI ditched it from the fund. This mistake with Tesla was a rare occurrence for the robot controlling AMOM, which otherwise has a strong record of predicting moves in the company's share price .\nAMOM has been listed in New York since May 2019, and has delivered total returns of 11% so far in 2021 and 53% in the past year -- outpacing its benchmark, the S&P 500 Momentum index , which has climbed a comparable 26% in the past year.\nAMOM is an actively managed portfolio driven by artificial intelligence, tracking 50 large-cap U.S. stocks and reweighting its holdings each month. It is based on a momentum strategy, with the AI behind its stock picks capitalizing on the movements of existing market trends to inform the decision to add, remove, or reweight holdings. The artificial intelligence scans the market and uses its predictive power to analyze a wide set of patterns that show stock-market momentum.\nThe fund is a product of Qraft, a Seoul, South Korea-based fintech group leveraging AI across its investment products, which include three other AI-picked versions of major indexes: a U.S. large cap index $(QRFT)$; a U.S. large cap dividend index $(HDIV.UK)$; and a U.S. value index $(NVQ)$.\nThe entrance of AI-run funds onto Wall Street promised a new high-tech future for investing, though it hasn't quite lived up to the hype yet. Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis , when tested against historical data.\nBut Vasant Dhar, a professor at New York University's Stern School of Business and the founder of machine-learning-based hedge fund SCT Capital Management, argued on MarketWatch in June 2020 that AI-run funds won't \"crack\" the code of the stock market.\nAdvocating caution, Dhar said that it was difficult for funds underpinned by machine learning to maintain a sustainable edge over markets, which have \"a nonstationary and adversarial nature.\" He advised investors considering an AI system to ask tough questions, including how likely it is that the AI's \"edge\" will persist into the future, and what the inherent uncertainties and range of performance outcomes for the fund are.","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180474119,"gmtCreate":1623224450831,"gmtModify":1704198695892,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"More to come...","listText":"More to come...","text":"More to come...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/180474119","repostId":"1176918592","repostType":4,"isVote":1,"tweetType":1,"viewCount":162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197046099,"gmtCreate":1621413896111,"gmtModify":1704357231959,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Go gold or go home","listText":"Go gold or go home","text":"Go gold or go home","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/197046099","repostId":"2136822915","repostType":4,"repost":{"id":"2136822915","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":1621411736,"share":"https://ttm.financial/m/news/2136822915?lang=&edition=fundamental","pubTime":"2021-05-19 16:08","market":"fut","language":"en","title":"Crypto stocks tumbled in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=2136822915","media":"Tiger Newspress","summary":"Crypto stocks tumbled in premarket trading on Bitcoin sliding below $40,000 after China's fresh cryp","content":"<p>Crypto stocks tumbled in premarket trading&nbsp;on&nbsp;Bitcoin sliding below $40,000 after China's fresh crypto curbs.</p><p><img src=\"https://static.tigerbbs.com/270e4af4516a319658e0395134a1c039\" tg-width=\"369\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p>Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.</p><p>Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.</p><p>The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.</p><p>Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.</p><p>Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.</p><p>The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.</p><p>Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.</p><p>Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.</p><p>More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.</p><p>This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"</p><p>The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.</p><p>Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.</p><p>The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.</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>Crypto stocks tumbled in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto stocks tumbled in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-19 16:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Crypto stocks tumbled in premarket trading&nbsp;on&nbsp;Bitcoin sliding below $40,000 after China's fresh crypto curbs.</p><p><img src=\"https://static.tigerbbs.com/270e4af4516a319658e0395134a1c039\" tg-width=\"369\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p>Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.</p><p>Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.</p><p>The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.</p><p>Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.</p><p>Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.</p><p>The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.</p><p>Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.</p><p>Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.</p><p>More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.</p><p>This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"</p><p>The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.</p><p>Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.</p><p>The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EBON":"亿邦国际","SOS":"SOS Limited","PYPL":"PayPal","RIOT":"Riot Platforms","MARA":"Marathon Digital Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136822915","content_text":"Crypto stocks tumbled in premarket trading on Bitcoin sliding below $40,000 after China's fresh crypto curbs.Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376723716,"gmtCreate":1619150528935,"gmtModify":1704720433105,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Golden words!","listText":"Golden words!","text":"Golden words!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376723716","repostId":"1171301745","repostType":2,"repost":{"id":"1171301745","pubTimestamp":1619107041,"share":"https://ttm.financial/m/news/1171301745?lang=&edition=fundamental","pubTime":"2021-04-22 23:57","market":"us","language":"en","title":"Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’","url":"https://stock-news.laohu8.com/highlight/detail?id=1171301745","media":"MarketWatch","summary":"Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch p","content":"<p>Be skeptical of fads, fashions and trends and operate within your circle of competence</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/db221b5c38828963f24b035309d8303e\" tg-width=\"1260\" tg-height=\"876\"><span>MarketWatch photo illustration/iStockphoto</span></p>\n<p>As the old joke goes, St. Peter had some bad news for an oil&nbsp;prospector&nbsp;who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”</p>\n<p>After a moment, the prospector asked to say just four words to the present occupants.&nbsp;That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!”&nbsp; Immediately, most of the oil prospectors stampeded out for the nether regions.&nbsp;Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them.&nbsp; There might be some truth to that rumor after all.”</p>\n<p>Let that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett’s key rules, ingrained into Berkshire Hathaway for years. We all need to hear such lessons repeatedly because reality’s temptations are always at war with our ideals.</p>\n<p>The serial frenzies in meme stocks like&nbsp;GameStop&nbsp;and cryptocurrencies like dogecoin&nbsp;make this a good time to contrast what investors should do from what many seem to do. Comparing Berkshire’s and crypto’s faithful is apt given their outsized followings: an estimated 30 million Americanshave traded cryptocurrencies and 30 million are expected to stream this year’s Berkshire virtual annual meeting on May 1.</p>\n<p>Buffett defines Berkshire as a corporation with a partnership attitude. The value of each investor’s stake will rise (or fall) in lock step. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. There, the culture is casino-like, where a small few stand to reap unimaginable riches while the overwhelming majority lose their shirts.&nbsp;</p>\n<p>Moreover, Berkshire’s culture emphasizes patience and permanence. The company ideally holds investments and businesses forever and encourages its shareholders to hold indefinitely, through thick and thin. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board. &nbsp;</p>\n<p>Relatedly, the Berkshire ideal accepts that it requires decades to build capital and that accumulating wealth entails skill and time — as well as a bit of luck. In contrast are those who strive to get rich quickly — and effortlessly. Today, some investment market players even seem to believe that everyone should be rich, as a matter of entitlement.</p>\n<p>The ideal Berkshire investor focuses on business, operating strategies, products or services and competitive advantages. For many in the meme-crypto world, what counts is hype and adrenaline, not whether there’s a business plan, let alone operations or customers. The Berkshire model is skeptical of fads, fashions and trends, while dogecoin and other cryptos thrive on these.</p>\n<p>This leads to the Berkshire canon’s cardinal principle: the circle of competence. It prescribes to invest only in what you can understand with a moderate amount of effort. This excludes at least some meme stocks and many currently faddish&nbsp;“blank-check” IPO-mergers. For most people, cryptocurrencies are outside of their circle of competence. Indeed, large numbers of investors nowadays appear to be way out of their circle of competence.</p>\n<p>For investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility. “Mr. Market” is a moody manic, always willing to trade with you at the going price, sometimes elevated, sometimes depressed.</p>\n<p>Following from both the limits of personal competence and the whims of markets, the Berkshire playbook demands a wide margin between the price paid and the value received. In Berkshire’s value-investing lexicon, this is the “margin of safety,” and Buffett has long said that these are the&nbsp;three most important words in investing.</p>\n<p>Finally, besides avoiding rumor-mongering and self-delusion, the Berkshire playbook says to beware the delusions of others. Berkshire’s Vice Chairman, Charlie Munger, tells a story about fishing for muskies at Leech Lake in Minnesota. A visiting angler asked the local guide, “Are any muskies caught in this lake?”</p>\n<p>“More muskies are caught in this lake than in any other lake in Minnesota,” the guide replied.&nbsp; “This lake is famous for muskies.”</p>\n<p>“How long have you been fishing here?”</p>\n<p>“Nineteen years,” the guide said.</p>\n<p>“And how many muskies have you caught?”</p>\n<p>“None.”</p>\n<p>So the next time someone tells you of the untold riches being made in day trading, ask them, “How much cash have you banked?”</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’ </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’ \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-22 23:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch photo illustration/iStockphoto\nAs the old joke goes, St. Peter had some bad news for an oil ...</p>\n\n<a href=\"https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站",".DJI":"道琼斯","GBTC":"Grayscale Bitcoin Trust","AMC":"AMC院线",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171301745","content_text":"Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch photo illustration/iStockphoto\nAs the old joke goes, St. Peter had some bad news for an oil prospector who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”\nAfter a moment, the prospector asked to say just four words to the present occupants. That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!”  Immediately, most of the oil prospectors stampeded out for the nether regions. Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them.  There might be some truth to that rumor after all.”\nLet that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett’s key rules, ingrained into Berkshire Hathaway for years. We all need to hear such lessons repeatedly because reality’s temptations are always at war with our ideals.\nThe serial frenzies in meme stocks like GameStop and cryptocurrencies like dogecoin make this a good time to contrast what investors should do from what many seem to do. Comparing Berkshire’s and crypto’s faithful is apt given their outsized followings: an estimated 30 million Americanshave traded cryptocurrencies and 30 million are expected to stream this year’s Berkshire virtual annual meeting on May 1.\nBuffett defines Berkshire as a corporation with a partnership attitude. The value of each investor’s stake will rise (or fall) in lock step. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. There, the culture is casino-like, where a small few stand to reap unimaginable riches while the overwhelming majority lose their shirts. \nMoreover, Berkshire’s culture emphasizes patience and permanence. The company ideally holds investments and businesses forever and encourages its shareholders to hold indefinitely, through thick and thin. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board.  \nRelatedly, the Berkshire ideal accepts that it requires decades to build capital and that accumulating wealth entails skill and time — as well as a bit of luck. In contrast are those who strive to get rich quickly — and effortlessly. Today, some investment market players even seem to believe that everyone should be rich, as a matter of entitlement.\nThe ideal Berkshire investor focuses on business, operating strategies, products or services and competitive advantages. For many in the meme-crypto world, what counts is hype and adrenaline, not whether there’s a business plan, let alone operations or customers. The Berkshire model is skeptical of fads, fashions and trends, while dogecoin and other cryptos thrive on these.\nThis leads to the Berkshire canon’s cardinal principle: the circle of competence. It prescribes to invest only in what you can understand with a moderate amount of effort. This excludes at least some meme stocks and many currently faddish “blank-check” IPO-mergers. For most people, cryptocurrencies are outside of their circle of competence. Indeed, large numbers of investors nowadays appear to be way out of their circle of competence.\nFor investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility. “Mr. Market” is a moody manic, always willing to trade with you at the going price, sometimes elevated, sometimes depressed.\nFollowing from both the limits of personal competence and the whims of markets, the Berkshire playbook demands a wide margin between the price paid and the value received. In Berkshire’s value-investing lexicon, this is the “margin of safety,” and Buffett has long said that these are the three most important words in investing.\nFinally, besides avoiding rumor-mongering and self-delusion, the Berkshire playbook says to beware the delusions of others. Berkshire’s Vice Chairman, Charlie Munger, tells a story about fishing for muskies at Leech Lake in Minnesota. A visiting angler asked the local guide, “Are any muskies caught in this lake?”\n“More muskies are caught in this lake than in any other lake in Minnesota,” the guide replied.  “This lake is famous for muskies.”\n“How long have you been fishing here?”\n“Nineteen years,” the guide said.\n“And how many muskies have you caught?”\n“None.”\nSo the next time someone tells you of the untold riches being made in day trading, ask them, “How much cash have you banked?”","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376766042,"gmtCreate":1619149941186,"gmtModify":1704720421305,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Because of GME?! Hahaha","listText":"Because of GME?! Hahaha","text":"Because of GME?! Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376766042","repostId":"1141178573","repostType":4,"repost":{"id":"1141178573","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1619147275,"share":"https://ttm.financial/m/news/1141178573?lang=&edition=fundamental","pubTime":"2021-04-23 11:07","market":"us","language":"en","title":"Biden to float historic tax increase on investment gains for the rich","url":"https://stock-news.laohu8.com/highlight/detail?id=1141178573","media":"Reuters","summary":"President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the l","content":"<p>President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.</p><p>The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.</p><p>That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.</p><p>News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&amp;P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.</p><p>Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.</p><p>\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.</p><p>Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.</p><p>Biden has promised not to raise taxes on households earning less than $400,000.</p><p>Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.</p><p>White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.</p><p>She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.</p><p>\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.</p><p><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90dcdfac3c849d0483fcf1eaee00814\" tg-width=\"7824\" tg-height=\"5219\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"></p><p><i>U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom Brenner</i></p><p>She said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.</p><p>Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.</p><p><b>CAPITAL GAINS</b></p><p>Biden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.</p><p>Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.</p><p>Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.</p><p>Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.</p><p>\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.</p><p>Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.</p><p>Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.</p><p>Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.</p><p>For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.</p><p><b>Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax Rate</b></p><p>Today the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).</p><p>Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that<b>\"Congress will settle on a more modest increase, potentially around 28%.\"</b>As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"</p><p>1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.<b>We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.</b>This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.</p><p><b>2. We expect Congress will pass a scaled back version of this tax increase.</b>While it is possible that Congress might pass the proposal in its entirety,<b>we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.</b>This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.</p><p>3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,<b>comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue</b>.</p><p>4. It is unclear when the higher rate would be effective, but we see three main options.</p><ul><li>First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.</li><li>A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.</li><li>The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.</li></ul><p>While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).</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>Biden to float historic tax increase on investment gains for the rich</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\">\nBiden to float historic tax increase on investment gains for the rich\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-23 11:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.</p><p>The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.</p><p>That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.</p><p>News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&amp;P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.</p><p>Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.</p><p>\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.</p><p>Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.</p><p>Biden has promised not to raise taxes on households earning less than $400,000.</p><p>Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.</p><p>White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.</p><p>She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.</p><p>\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.</p><p><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90dcdfac3c849d0483fcf1eaee00814\" tg-width=\"7824\" tg-height=\"5219\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"></p><p><i>U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom Brenner</i></p><p>She said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.</p><p>Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.</p><p><b>CAPITAL GAINS</b></p><p>Biden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.</p><p>Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.</p><p>Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.</p><p>Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.</p><p>\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.</p><p>Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.</p><p>Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.</p><p>Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.</p><p>For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.</p><p><b>Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax Rate</b></p><p>Today the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).</p><p>Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that<b>\"Congress will settle on a more modest increase, potentially around 28%.\"</b>As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"</p><p>1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.<b>We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.</b>This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.</p><p><b>2. We expect Congress will pass a scaled back version of this tax increase.</b>While it is possible that Congress might pass the proposal in its entirety,<b>we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.</b>This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.</p><p>3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,<b>comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue</b>.</p><p>4. It is unclear when the higher rate would be effective, but we see three main options.</p><ul><li>First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.</li><li>A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.</li><li>The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.</li></ul><p>While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141178573","content_text":"President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.Biden has promised not to raise taxes on households earning less than $400,000.Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom BrennerShe said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.CAPITAL GAINSBiden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax RateToday the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that\"Congress will settle on a more modest increase, potentially around 28%.\"As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.2. We expect Congress will pass a scaled back version of this tax increase.While it is possible that Congress might pass the proposal in its entirety,we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue.4. It is unclear when the higher rate would be effective, but we see three main options.First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370218416,"gmtCreate":1618585787735,"gmtModify":1704713169579,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","listText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","text":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370218416","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347603066,"gmtCreate":1618490384655,"gmtModify":1704711619279,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Should be MORE!","listText":"Should be MORE!","text":"Should be MORE!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347603066","repostId":"2127007082","repostType":4,"isVote":1,"tweetType":1,"viewCount":118,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342760057,"gmtCreate":1618242947679,"gmtModify":1704708106875,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"I'm not convinced...","listText":"I'm not convinced...","text":"I'm not convinced...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342760057","repostId":"1188840982","repostType":4,"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341832276,"gmtCreate":1617802142195,"gmtModify":1704703308394,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"I am holding my breath&nbsp;for MSFT","listText":"I am holding my breath&nbsp;for MSFT","text":"I am holding my breath for MSFT","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341832276","repostId":"1180267411","repostType":2,"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343138643,"gmtCreate":1617686558382,"gmtModify":1704701793748,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","listText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","text":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343138643","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","pubTimestamp":1617672655,"share":"https://ttm.financial/m/news/1101907559?lang=&edition=fundamental","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<blockquote>\n <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>\n</blockquote>\n<p>Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p>\n<p>In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p>\n<p>Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p>\n<p>The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p>\n<p>A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p>\n<p><b>Unregulated money managers</b></p>\n<p>Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p>\n<p>This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p>\n<p>The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p>\n<p>But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p>\n<p><b>Danger of counterparty risk</b></p>\n<p>This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p>\n<p>So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p>\n<p>One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p>\n<p>But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p>\n<p><b>Yellen on the case</b></p>\n<p>This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p>\n<p>Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p>\n<p>The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 09:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of ...</p>\n\n<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354986558,"gmtCreate":1617118806474,"gmtModify":1704696160491,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Everyone is hedging on BTC?","listText":"Everyone is hedging on BTC?","text":"Everyone is hedging on BTC?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354986558","repostId":"1130322587","repostType":4,"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355386243,"gmtCreate":1617028731682,"gmtModify":1704801100424,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Time to buy some Bank stocks! Pls like or comment ?","listText":"Time to buy some Bank stocks! Pls like or comment ?","text":"Time to buy some Bank stocks! Pls like or comment ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355386243","repostId":"1180199356","repostType":4,"repost":{"id":"1180199356","pubTimestamp":1617025247,"share":"https://ttm.financial/m/news/1180199356?lang=&edition=fundamental","pubTime":"2021-03-29 21:40","market":"us","language":"en","title":"Bank stocks drop after Archegos Capital collapses","url":"https://stock-news.laohu8.com/highlight/detail?id=1180199356","media":"seekingalpha","summary":"Some of the biggest global banks drop in market trading after Archegos Capital, the family office ru","content":"<p>Some of the biggest global banks drop in market trading after Archegos Capital, the family office run by Bill Hwang,wasforced to liquidate, putting the banks in danger of losing billions of dollars.</p><p>Credit Suisse&nbsp;sinks 13%, Nomura&nbsp;slides 13%, Goldman Sachs&nbsp;drops 1%, and Morgan Stanley&nbsp;falls 2.78%, Deutsche Bank&nbsp;dips 2.96%.</p><p><img src=\"https://static.tigerbbs.com/467f28f9b672edc77c3cf438b196dccb\" tg-width=\"279\" tg-height=\"202\" referrerpolicy=\"no-referrer\"></p><p>While it didn't name the client, Credit Suisse&nbsp;warnedinvestors of&nbsp; a \"significant loss\" because it was forced to exit positions after \"a significant U.S.-based hedge fund defaulted on margin calls made last week\" made by CS and a number of other banks, the company said.</p><p>BofA Securities analyst Alastair Ryan downgraded CS to Neutral and reduced his 2021 forecast for the bank and price target due to the losses on the liquidation. \"We believe its capital cushion has likely been reduced to the point where its buyback is directly affected,\" Ryan wrote in a note to clients. (Updated at 7:45 AM ET.)</p><p>Nomura also said it mayincur a significant lossarising from transactions with a U.S. client; it's still calculating its possible loss from the event andestimates the claimagainst the client at ~$2B.</p><p>Morgan Stanley (MS), Goldman Sachs (GS), and Deutsche Bank (DB) are also reported to have been involved. MS and GS didn't immediately respond to request for comment.</p><p>Also see,ViacomCBS block of 45M shares was being offered by Morgan Stanley on Sunday</p><p>Earlier,Morgan Stanley had 'disturbing' widening in credit default swaps late last week, expert says.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank stocks drop after Archegos Capital collapses</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\">\nBank stocks drop after Archegos Capital collapses\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-29 21:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677088-bank-stocks-drop-after-archegos-capital-collapses><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Some of the biggest global banks drop in market trading after Archegos Capital, the family office run by Bill Hwang,wasforced to liquidate, putting the banks in danger of losing billions of dollars....</p>\n\n<a href=\"https://seekingalpha.com/news/3677088-bank-stocks-drop-after-archegos-capital-collapses\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/69af882c29a3ff047224139fe1096d17","relate_stocks":{"GS":"高盛","NMR":"野村控股","MS":"摩根士丹利","DB":"德意志银行"},"source_url":"https://seekingalpha.com/news/3677088-bank-stocks-drop-after-archegos-capital-collapses","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1180199356","content_text":"Some of the biggest global banks drop in market trading after Archegos Capital, the family office run by Bill Hwang,wasforced to liquidate, putting the banks in danger of losing billions of dollars.Credit Suisse sinks 13%, Nomura slides 13%, Goldman Sachs drops 1%, and Morgan Stanley falls 2.78%, Deutsche Bank dips 2.96%.While it didn't name the client, Credit Suisse warnedinvestors of  a \"significant loss\" because it was forced to exit positions after \"a significant U.S.-based hedge fund defaulted on margin calls made last week\" made by CS and a number of other banks, the company said.BofA Securities analyst Alastair Ryan downgraded CS to Neutral and reduced his 2021 forecast for the bank and price target due to the losses on the liquidation. \"We believe its capital cushion has likely been reduced to the point where its buyback is directly affected,\" Ryan wrote in a note to clients. (Updated at 7:45 AM ET.)Nomura also said it mayincur a significant lossarising from transactions with a U.S. client; it's still calculating its possible loss from the event andestimates the claimagainst the client at ~$2B.Morgan Stanley (MS), Goldman Sachs (GS), and Deutsche Bank (DB) are also reported to have been involved. MS and GS didn't immediately respond to request for comment.Also see,ViacomCBS block of 45M shares was being offered by Morgan Stanley on SundayEarlier,Morgan Stanley had 'disturbing' widening in credit default swaps late last week, expert says.","news_type":1},"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355028116,"gmtCreate":1617016657435,"gmtModify":1704800858986,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Nutters","listText":"Nutters","text":"Nutters","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355028116","repostId":"1149839668","repostType":4,"repost":{"id":"1149839668","pubTimestamp":1617002672,"share":"https://ttm.financial/m/news/1149839668?lang=&edition=fundamental","pubTime":"2021-03-29 15:24","market":"us","language":"en","title":"Large block trades tied to Archegos raise worries about trading this week","url":"https://stock-news.laohu8.com/highlight/detail?id=1149839668","media":"Reuters","summary":"(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the s","content":"<p>(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source familiar with the situation said, with the moves raising worries about volatile trading in the coming days.</p><p>Shares in ViacomCBS and Discovery tumbled around 27% each on Friday, while U.S.-listed shares of China-based Baidu and Tencent Music plunged during the week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. Baidu was trading slightly lower in Hong Kong at the open.</p><p>Investors and analysts cited blocks of Viacom and Discovery shares being put in the market on Friday for likely exacerbating the decline in those stocks. Viacom was also downgraded by Wells Fargo on Friday.</p><p>The block trades were linked to sales of holdings by Archegos, a source familiar with the situation said, confirming reports elsewhere. CNBC reportedhereon Saturday that the selling pressure was due to liquidation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. The link with Archegos was also earlier reported by IPO Edgehere.</p><p>A person at Archegos who answered the phone on Saturday declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia from 2001 to 2012, when he renamed it Archegos Capital and made it a family office, according to a page capturehereof the fund's website. Tiger Asia was a Hong Kong-based fundherethat sought to profit on bets on securities in Asia.</p><p>Prior to starting Tiger Asia, Hwang was an equity analyst for Tiger Management according to Archegos' websitehere. Tiger Management, run by Julian Robertson, was a hugely successful hedge fund, which returned investor money and shutherein 2000.</p><p>Hwang in 2012 settledhereinsider trading charges by the U.S. Securities and Exchange Commission according to a press releasehereat the time. He and his firms at the time agreed to pay $44 million to settle, according to the release.</p><p><b>VOLATILITY CONCERNS</b></p><p>Some market participants said last week’s wild moves were likely to make investors increasingly cautious.</p><p>“It’s insane,” said Edward Moya, senior market analyst at OANDA. “When you consider how some of these companies have skyrocketed over the last few months, there will be concerns that we are over-levered.”</p><p>Other market participants said potential unwinds would only have a limited impact on broader markets. The Nasdaq Composite and S&amp;P 500 both surged over 1% on Friday despite the sharp selloffs in Viacom and other stocks.</p><p>“These stories around fund liquidations happen from time to time,” said Michael Antonelli, market strategist at Baird. “Some of the names where big blocks were traded on Friday might see some near-term volatility as traders wonder whether the selling is complete.”</p><p>Mike O’Rourke, chief market strategist at JonesTrading said he expected the trades to “largely be done.”</p><p>“The prime brokers made lots of noise in marketing these blocks,” O’Rourke said. “They knocked the stocks down aggressively in order to get the trades done.”</p><p>O’Rourke added that prime brokers typically go long the remnants of the position, and he expected most of the names involved in the block trades to be “gapping up significantly higher” in premarket trading.</p><p>In more potentially unnerving news for investors, Japan’s Nomura Holdings Inc on Monday flagged a potential $2 billion loss at a U.S. subsidiary although traders were not clear whether it was related to Archegos.</p><p><b>BANKS INVOLVED</b></p><p>A number of banks were involved in the block sales. A source familiar with the matter said on Saturday that Goldman Sachs Group Inc was involved in the large blocktrades. The Financial Times reported that Morgan Stanley sold $4billion worth of shares early on Friday, followed by another$4 billion in the afternoon.</p><p>A source familiar with the matter said Deutsche Bank was involved with the block trades as well. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion worth of stocks in the block trades. An email to clients seen by Bloomberg Newsbloom.bg/3lYOrZmsaid Goldman sold$6.6 billion worth of shares of Baidu Inc , Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloomberg report on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.</p><p>Reporting by Megan Davies, Ira Iosebashvili and Kenneth Li in New York, additional reporting by Juby Babu in Bengaluru; Editing by Paul Simao and Jane Wardell</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>Large block trades tied to Archegos raise worries about trading this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLarge block trades tied to Archegos raise worries about trading this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-29 15:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source ...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9fa7c522340c9f1e78e78f0c1543440e","relate_stocks":{},"source_url":"https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149839668","content_text":"(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source familiar with the situation said, with the moves raising worries about volatile trading in the coming days.Shares in ViacomCBS and Discovery tumbled around 27% each on Friday, while U.S.-listed shares of China-based Baidu and Tencent Music plunged during the week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. Baidu was trading slightly lower in Hong Kong at the open.Investors and analysts cited blocks of Viacom and Discovery shares being put in the market on Friday for likely exacerbating the decline in those stocks. Viacom was also downgraded by Wells Fargo on Friday.The block trades were linked to sales of holdings by Archegos, a source familiar with the situation said, confirming reports elsewhere. CNBC reportedhereon Saturday that the selling pressure was due to liquidation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. The link with Archegos was also earlier reported by IPO Edgehere.A person at Archegos who answered the phone on Saturday declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia from 2001 to 2012, when he renamed it Archegos Capital and made it a family office, according to a page capturehereof the fund's website. Tiger Asia was a Hong Kong-based fundherethat sought to profit on bets on securities in Asia.Prior to starting Tiger Asia, Hwang was an equity analyst for Tiger Management according to Archegos' websitehere. Tiger Management, run by Julian Robertson, was a hugely successful hedge fund, which returned investor money and shutherein 2000.Hwang in 2012 settledhereinsider trading charges by the U.S. Securities and Exchange Commission according to a press releasehereat the time. He and his firms at the time agreed to pay $44 million to settle, according to the release.VOLATILITY CONCERNSSome market participants said last week’s wild moves were likely to make investors increasingly cautious.“It’s insane,” said Edward Moya, senior market analyst at OANDA. “When you consider how some of these companies have skyrocketed over the last few months, there will be concerns that we are over-levered.”Other market participants said potential unwinds would only have a limited impact on broader markets. The Nasdaq Composite and S&P 500 both surged over 1% on Friday despite the sharp selloffs in Viacom and other stocks.“These stories around fund liquidations happen from time to time,” said Michael Antonelli, market strategist at Baird. “Some of the names where big blocks were traded on Friday might see some near-term volatility as traders wonder whether the selling is complete.”Mike O’Rourke, chief market strategist at JonesTrading said he expected the trades to “largely be done.”“The prime brokers made lots of noise in marketing these blocks,” O’Rourke said. “They knocked the stocks down aggressively in order to get the trades done.”O’Rourke added that prime brokers typically go long the remnants of the position, and he expected most of the names involved in the block trades to be “gapping up significantly higher” in premarket trading.In more potentially unnerving news for investors, Japan’s Nomura Holdings Inc on Monday flagged a potential $2 billion loss at a U.S. subsidiary although traders were not clear whether it was related to Archegos.BANKS INVOLVEDA number of banks were involved in the block sales. A source familiar with the matter said on Saturday that Goldman Sachs Group Inc was involved in the large blocktrades. The Financial Times reported that Morgan Stanley sold $4billion worth of shares early on Friday, followed by another$4 billion in the afternoon.A source familiar with the matter said Deutsche Bank was involved with the block trades as well. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion worth of stocks in the block trades. An email to clients seen by Bloomberg Newsbloom.bg/3lYOrZmsaid Goldman sold$6.6 billion worth of shares of Baidu Inc , Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloomberg report on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.Reporting by Megan Davies, Ira Iosebashvili and Kenneth Li in New York, additional reporting by Juby Babu in Bengaluru; Editing by Paul Simao and Jane Wardell","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359415162,"gmtCreate":1616420025656,"gmtModify":1704793826775,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"It's anybody's guess, how GME will turn out... But the biggest winner is still GME the company itself...","listText":"It's anybody's guess, how GME will turn out... But the biggest winner is still GME the company itself...","text":"It's anybody's guess, how GME will turn out... But the biggest winner is still GME the company itself...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359415162","repostId":"2121114141","repostType":2,"repost":{"id":"2121114141","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1616395638,"share":"https://ttm.financial/m/news/2121114141?lang=&edition=fundamental","pubTime":"2021-03-22 14:47","market":"us","language":"en","title":"Here's How To Watch GameStop's Earnings Report This Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=2121114141","media":"Benzinga","summary":"Whether you’re actively trading or investing in GameStop Corp. (NYSE: GME) stock, or just in plain awe of the ride from the sidelines, all eyes will on the company’s first earnings report since the epic January short squeeze kicked off. ","content":"<p>Whether you’re actively trading or investing in <b>GameStop Corp.</b> (NYSE:GME) stock, or just in plain awe of the ride from the sidelines, all eyes will&nbsp;on the company’s first earnings report since the epic January short squeeze kicked off.</p>\n<p><img src=\"https://static.tigerbbs.com/d0c2b41b1db3f8560d88c1c3dc08bfeb\" tg-width=\"685\" tg-height=\"375\"></p>\n<p>Here’s when the report is happening and how you can watch this Tuesday.</p>\n<ul>\n <li>On March 9 GameStop announced&nbsp;that the company&nbsp;will report both fourth quarter and fiscal 2020 earnings results after the market closes March 23.</li>\n <li>Following the earnings release, GameStop will host an investor conference call at 5:00 p.m.&nbsp;EST to review the company’s financial results.</li>\n <li>To enter and listen to the earnings report webcast, you need to fill out this form.</li>\n</ul>\n<p>Shares of GameStop and other heavily-shorted stocks such as <b>AMC Entertainment Holdings Inc. </b>(NYSE:AMC)&nbsp;skyrocketed in January as retail traders belonging to the Reddit Investor forum r/WallStreetBets bought the stocks to create a short squeeze.</p>\n<p>GameStop and several other meme stocks also continue to see strong retail investor interest amid speculation small investors will invest funds from upcoming stimulus checks on stocks and options.</p>\n<p>Several trading halts over the past several weeks have also sent the implied volatility of GameStop options expiring in March past 500%.</p>\n<p>IV, or implied volatility, is a key component in the pricing of options, as it reflects the chance that the option will be in the money by the expiration date of the option.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's How To Watch GameStop's Earnings Report This Tuesday</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\">\nHere's How To Watch GameStop's Earnings Report This Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-03-22 14:47</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Whether you’re actively trading or investing in <b>GameStop Corp.</b> (NYSE:GME) stock, or just in plain awe of the ride from the sidelines, all eyes will&nbsp;on the company’s first earnings report since the epic January short squeeze kicked off.</p>\n<p><img src=\"https://static.tigerbbs.com/d0c2b41b1db3f8560d88c1c3dc08bfeb\" tg-width=\"685\" tg-height=\"375\"></p>\n<p>Here’s when the report is happening and how you can watch this Tuesday.</p>\n<ul>\n <li>On March 9 GameStop announced&nbsp;that the company&nbsp;will report both fourth quarter and fiscal 2020 earnings results after the market closes March 23.</li>\n <li>Following the earnings release, GameStop will host an investor conference call at 5:00 p.m.&nbsp;EST to review the company’s financial results.</li>\n <li>To enter and listen to the earnings report webcast, you need to fill out this form.</li>\n</ul>\n<p>Shares of GameStop and other heavily-shorted stocks such as <b>AMC Entertainment Holdings Inc. </b>(NYSE:AMC)&nbsp;skyrocketed in January as retail traders belonging to the Reddit Investor forum r/WallStreetBets bought the stocks to create a short squeeze.</p>\n<p>GameStop and several other meme stocks also continue to see strong retail investor interest amid speculation small investors will invest funds from upcoming stimulus checks on stocks and options.</p>\n<p>Several trading halts over the past several weeks have also sent the implied volatility of GameStop options expiring in March past 500%.</p>\n<p>IV, or implied volatility, is a key component in the pricing of options, as it reflects the chance that the option will be in the money by the expiration date of the option.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121114141","content_text":"Whether you’re actively trading or investing in GameStop Corp. (NYSE:GME) stock, or just in plain awe of the ride from the sidelines, all eyes will on the company’s first earnings report since the epic January short squeeze kicked off.\n\nHere’s when the report is happening and how you can watch this Tuesday.\n\nOn March 9 GameStop announced that the company will report both fourth quarter and fiscal 2020 earnings results after the market closes March 23.\nFollowing the earnings release, GameStop will host an investor conference call at 5:00 p.m. EST to review the company’s financial results.\nTo enter and listen to the earnings report webcast, you need to fill out this form.\n\nShares of GameStop and other heavily-shorted stocks such as AMC Entertainment Holdings Inc. (NYSE:AMC) skyrocketed in January as retail traders belonging to the Reddit Investor forum r/WallStreetBets bought the stocks to create a short squeeze.\nGameStop and several other meme stocks also continue to see strong retail investor interest amid speculation small investors will invest funds from upcoming stimulus checks on stocks and options.\nSeveral trading halts over the past several weeks have also sent the implied volatility of GameStop options expiring in March past 500%.\nIV, or implied volatility, is a key component in the pricing of options, as it reflects the chance that the option will be in the money by the expiration date of the option.","news_type":1},"isVote":1,"tweetType":1,"viewCount":170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324946549,"gmtCreate":1615956543881,"gmtModify":1704788917209,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"Longing BAC","listText":"Longing BAC","text":"Longing BAC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/324946549","repostId":"1107740379","repostType":4,"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322202288,"gmtCreate":1615807193744,"gmtModify":1704786789620,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578571985802325","authorIdStr":"3578571985802325"},"themes":[],"htmlText":"I think GME will not stop Until it reaches 1500...&nbsp;","listText":"I think GME will not stop Until it reaches 1500...&nbsp;","text":"I think GME will not stop Until it reaches 1500...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322202288","repostId":"1158233246","repostType":4,"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":324946549,"gmtCreate":1615956543881,"gmtModify":1704788917209,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Longing BAC","listText":"Longing BAC","text":"Longing BAC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/324946549","repostId":"1107740379","repostType":4,"repost":{"id":"1107740379","pubTimestamp":1615949781,"share":"https://ttm.financial/m/news/1107740379?lang=&edition=fundamental","pubTime":"2021-03-17 10:56","market":"us","language":"en","title":"5 sturdy value stocks to protect your portfolio from rising interest rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1107740379","media":"MarketWatch","summary":"Johnson & Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.It’s hard to imagine that the benchmark Treasury bond yielding halfway between 1% and 2% would cause panic in the stock market, but that’s exactly what’s happened.U.S. Treasurys, which are used as a reference rate for all kinds of loans, stood at over 13% some 40 years ago and almost 5% in 2001.But considering where Treasurys have been lately, it’s importan","content":"<p>Johnson &amp; Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.</p>\n<p>It’s hard to imagine that the benchmark Treasury bond yielding halfway between 1% and 2% would cause panic in the stock market, but that’s exactly what’s happened.</p>\n<p>U.S. Treasurys, which are used as a reference rate for all kinds of loans, stood at over 13% some 40 years ago and almost 5% in 2001.</p>\n<p>But considering where Treasurys have been lately, it’s important to remember that low and high are relative terms. As recently as last summer, 10-year Treasurys&nbsp;commanded a 0.5% rate. That means interest rates have tripled in less than a year.</p>\n<p>Rapid changes like that can have a real impact on your portfolio. Consider that the massive iShares Core U.S. Aggregate Bond ETF,which has $85 billion under management, has dipped 4% already this year even as the S&amp;P 500 Index&nbsp;of the largest U.S. stocks has powered 5% higher.</p>\n<p>Some analysts predict&nbsp;rates are only getting started, thanks to stimulus checks, government spending and the long-shot chance of tighter policies from the Federal Reserve later this year.</p>\n<p>If you want to insulate your portfolio from rising rates, here are five low-risk value stocks that could see you through any choppiness in the months ahead.</p>\n<p><b>Bank of America</b></p>\n<p>Historically, increases in interest rates mean expanding profit margins for the financial sector. And Bank of America,&nbsp;the second-largest U.S. bank by assets, has a massive scale that is sure to pay off as rates rise.</p>\n<p>The stock isn’t just seeing momentum recently because of the prospect of higher rates. The shares are up almost 60% in the past 12 months since the COVID-19 lows of 2020, outperforming the S&amp;P 500 in the same period.&nbsp; It’s also riding an impressive streak of earnings reports, topping Wall Street expectations in 15 of the last 16 quarters.</p>\n<p>Adding to the appeal is that at the end of 2020 iconic investor Warren Buffett and his Berkshire Hathaway&nbsp;investment company pumped more than&nbsp;$2 billioninto Bank of America’s stock to push the stake up to nearly 12% of the entire company. That puts BofA as the No. 2 position in Berkshire’s portfolio, behind&nbsp;only tech giant Apple,and giving the stock a huge vote of confidence. What’s more, Buffett &amp; Co. sought approval from the Federal Reserve to double that already massive investment, up to a total of&nbsp;24.9%&nbsp;of Bank of America’s outstanding shares.</p>\n<p>Adjusted for splits, BofA stock is back to levels not seen since 2008, before the financial crisis sent shares to low single digits and resulted in a dividend reduction to just a penny per share. The combination of a rising rate environment, strong institutional buying pressure and massive scale make this stock a stable investment that investors may want to look into.</p>\n<p><b>Johnson &amp; Johnson</b></p>\n<p>Another mega-cap stock that should be a familiar favorite of value investors, Johnson &amp; Johnson&nbsp;stands out because of a combination of intrinsic value and specific factors that should help it thrive despite the challenges of 2021.</p>\n<p>J&amp;J is one of only&nbsp;two&nbsp;S&amp;P&nbsp;500 companies (tech giant Microsoft&nbsp;is the other) with a perfect&nbsp;AAA credit rating.&nbsp;It’s also among the 10 largest U.S. companies by market cap, boasts $25 billion in cash and tallies more than $20 billion in annual operating cash flow. When it comes to stability and tangible value on the balance sheet, it’s hard to top this health-care giant.</p>\n<p>In 2021, there are also a few factors that should help J&amp;J power even higher. While it is too big and stable to get quite the short-term momentum of a stock like Moderna&nbsp;or Novavax,J&amp;J is set to benefit from a nice tailwind thanks to the fact its own single-dose coronavirus vaccine received&nbsp;Emergency Use Authorization&nbsp;from the U.S. Food and Drug Administration in late February.</p>\n<p>Johnson &amp; Johnson has a tremendous portfolio of health-care products to fall back on beyond the vaccine, including over-the-counter medication like Tylenol and its eponymous baby-care products, prescription drugs and medical devices. If you want a “sure thing” stock in an uncertain market environment, it could be hard to find a better candidate than JNJ.</p>\n<p><b>Walmart</b></p>\n<p>Keeping with the theme of tremendous scale, big box retailer Walmart&nbsp;is a $380 billion powerhouse that recorded more than $36 billion in operating cash flow last fiscal year. It’s up nearly 50% from its 2020 lows, outperforming the major stock market indexes in the same period, thanks in part to selling groceries and household goods that have remained in strong demand despite disruptions to other spending categories.</p>\n<p>This bodes well for the stability of Walmart going forward, as these categories should remain strong for the foreseeable future. Furthermore, the pandemic forced WMT to increase its already impressive digital penetration with customers and accelerated its membership platform Walmart+. This service, at $12 a month or $98 a year, allows for free next-day shipping with no minimum orders and free-from-store delivery for orders of at least $35. There’s even a 5-cent saving on gasoline for members, making this program seem like as good of a value as WMT stock itself.</p>\n<p>The icing on the cake is an impressive track record of 48 years of consecutive dividend increase that proves Walmart isn’t just a reliable source of income but also a stock that’s committed to its shareholders. Dividends are a tangible sign of real value in a stock, as you have to have regular and material profits to back them up, and a long history of increase shows long-term value investors can depend on WMT regardless of short-term ups and downs for the U.S. economy.</p>\n<p><b>CVS</b></p>\n<p>Though you may think of CVS&nbsp;as simply a retailer of a different sort, the reality is that CVS has become much more than a drugstore in 2021. Over the past few years, an investment in acute care and vaccination services in-store has paid off big time as CVS is now a critical part of the vaccine rollout in the U.S. In fact, a recent Wall Street Journal report noted the company has delivered over&nbsp;3 million vaccines.</p>\n<p>That’s a short-term opportunity, to be sure. But more importantly, it has brought all those customers into its store and signed many of them up for marketing updates or its ExtraCare rewards program to keep them coming back over the long haul.</p>\n<p>Speaking of the long haul, investors should not be fooled into thinking this is just a vaccine play. CVS has been shrewd in recent years, growing into a dominant provider of pharmacy benefit management solutions&nbsp; and even acquiring primary care insurance provider&nbsp;Aetna in 2018. These operations ensure CVS thrives whether individual patients come in to their brick-and-mortar stores with a prescription or not. In fact, under the Global Industry Classification Standard the stock is grouped into “health-care plans” with other stocks like Cigna&nbsp;and UnitedHealthGroup&nbsp;and not with retailers.</p>\n<p>The kicker is that CVS has a forward price-to-earnings ratio of about 9 right now, less than half that of the S&amp;P 500’s 22, and well below peers like UNH in its industry group that are around 20. With a health-care focus that insulates it from rates and an attractive valuation, CVS is worth a look.</p>\n<p><b>General Motors</b></p>\n<p>I made the case for General Motors&nbsp;earlier this year in a&nbsp;MarketWatch column. And with shares up about 40% year-to-date, it’s worth repeating that call here as GM has a lot of intrinsic value and remains at an attractive price even after this run.</p>\n<p>Case in point: GM is sitting on a forward P/E of less than 7, compared with 11 for Toyota&nbsp;and about 22 for the market at large.</p>\n<p>You might say that’s because the market is discounting GM’s stock for a lack of innovation in the age of electric vehicles. But the truth is that GM is actually running with the pack of EV manfucaturers quite well. Its new&nbsp;Ultium battery power system&nbsp;is modular, allowing it to grow quickly into the many vehicle lines offered by this legacy automaker, and its BrightDrop subsidiary continues to innovate with developments include a&nbsp;250-mile range delivery van. GM has publicly pledged to have a 100% electric portfolio by 2035, and is well on its way to that long-term goal.</p>\n<p>Now, you may write off this promise as the desperate public relations campaign of a company that has already been eclipsed by Tesla.But GM has one big thing Tesla doesn’t — a mature manufacturing operation that cranks out 7.7 million vehicles a year, and property and equipment valued at almost $80 billion, according to SEC filings.</p>\n<p>Yes, the pandemic has created short-term disruptions for the automaker. And yes, there is long-term risk of missing out on the EV revolution. But GM has a ton of intrinsic value right now. And if rates are rising thanks to an economic recovery, you can expect folks to eagerly spend on GM vehicles rather than pay more in financing costs or sticker price later.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 sturdy value stocks to protect your portfolio from rising interest rates</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\">\n5 sturdy value stocks to protect your portfolio from rising interest rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-17 10:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/five-sturdy-value-stocks-to-protect-your-portfolio-from-rising-interest-rates-11615897033?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Johnson & Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.\nIt’s hard to imagine that the benchmark Treasury bond ...</p>\n\n<a href=\"https://www.marketwatch.com/story/five-sturdy-value-stocks-to-protect-your-portfolio-from-rising-interest-rates-11615897033?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVS":"西维斯健康","GM":"通用汽车","BAC":"美国银行","JNJ":"强生","WMT":"沃尔玛"},"source_url":"https://www.marketwatch.com/story/five-sturdy-value-stocks-to-protect-your-portfolio-from-rising-interest-rates-11615897033?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107740379","content_text":"Johnson & Johnson, General Motors and three other companies have high intrinsic value and catalysts that bode well for a post-pandemic world.\nIt’s hard to imagine that the benchmark Treasury bond yielding halfway between 1% and 2% would cause panic in the stock market, but that’s exactly what’s happened.\nU.S. Treasurys, which are used as a reference rate for all kinds of loans, stood at over 13% some 40 years ago and almost 5% in 2001.\nBut considering where Treasurys have been lately, it’s important to remember that low and high are relative terms. As recently as last summer, 10-year Treasurys commanded a 0.5% rate. That means interest rates have tripled in less than a year.\nRapid changes like that can have a real impact on your portfolio. Consider that the massive iShares Core U.S. Aggregate Bond ETF,which has $85 billion under management, has dipped 4% already this year even as the S&P 500 Index of the largest U.S. stocks has powered 5% higher.\nSome analysts predict rates are only getting started, thanks to stimulus checks, government spending and the long-shot chance of tighter policies from the Federal Reserve later this year.\nIf you want to insulate your portfolio from rising rates, here are five low-risk value stocks that could see you through any choppiness in the months ahead.\nBank of America\nHistorically, increases in interest rates mean expanding profit margins for the financial sector. And Bank of America, the second-largest U.S. bank by assets, has a massive scale that is sure to pay off as rates rise.\nThe stock isn’t just seeing momentum recently because of the prospect of higher rates. The shares are up almost 60% in the past 12 months since the COVID-19 lows of 2020, outperforming the S&P 500 in the same period.  It’s also riding an impressive streak of earnings reports, topping Wall Street expectations in 15 of the last 16 quarters.\nAdding to the appeal is that at the end of 2020 iconic investor Warren Buffett and his Berkshire Hathaway investment company pumped more than $2 billioninto Bank of America’s stock to push the stake up to nearly 12% of the entire company. That puts BofA as the No. 2 position in Berkshire’s portfolio, behind only tech giant Apple,and giving the stock a huge vote of confidence. What’s more, Buffett & Co. sought approval from the Federal Reserve to double that already massive investment, up to a total of 24.9% of Bank of America’s outstanding shares.\nAdjusted for splits, BofA stock is back to levels not seen since 2008, before the financial crisis sent shares to low single digits and resulted in a dividend reduction to just a penny per share. The combination of a rising rate environment, strong institutional buying pressure and massive scale make this stock a stable investment that investors may want to look into.\nJohnson & Johnson\nAnother mega-cap stock that should be a familiar favorite of value investors, Johnson & Johnson stands out because of a combination of intrinsic value and specific factors that should help it thrive despite the challenges of 2021.\nJ&J is one of only two S&P 500 companies (tech giant Microsoft is the other) with a perfect AAA credit rating. It’s also among the 10 largest U.S. companies by market cap, boasts $25 billion in cash and tallies more than $20 billion in annual operating cash flow. When it comes to stability and tangible value on the balance sheet, it’s hard to top this health-care giant.\nIn 2021, there are also a few factors that should help J&J power even higher. While it is too big and stable to get quite the short-term momentum of a stock like Moderna or Novavax,J&J is set to benefit from a nice tailwind thanks to the fact its own single-dose coronavirus vaccine received Emergency Use Authorization from the U.S. Food and Drug Administration in late February.\nJohnson & Johnson has a tremendous portfolio of health-care products to fall back on beyond the vaccine, including over-the-counter medication like Tylenol and its eponymous baby-care products, prescription drugs and medical devices. If you want a “sure thing” stock in an uncertain market environment, it could be hard to find a better candidate than JNJ.\nWalmart\nKeeping with the theme of tremendous scale, big box retailer Walmart is a $380 billion powerhouse that recorded more than $36 billion in operating cash flow last fiscal year. It’s up nearly 50% from its 2020 lows, outperforming the major stock market indexes in the same period, thanks in part to selling groceries and household goods that have remained in strong demand despite disruptions to other spending categories.\nThis bodes well for the stability of Walmart going forward, as these categories should remain strong for the foreseeable future. Furthermore, the pandemic forced WMT to increase its already impressive digital penetration with customers and accelerated its membership platform Walmart+. This service, at $12 a month or $98 a year, allows for free next-day shipping with no minimum orders and free-from-store delivery for orders of at least $35. There’s even a 5-cent saving on gasoline for members, making this program seem like as good of a value as WMT stock itself.\nThe icing on the cake is an impressive track record of 48 years of consecutive dividend increase that proves Walmart isn’t just a reliable source of income but also a stock that’s committed to its shareholders. Dividends are a tangible sign of real value in a stock, as you have to have regular and material profits to back them up, and a long history of increase shows long-term value investors can depend on WMT regardless of short-term ups and downs for the U.S. economy.\nCVS\nThough you may think of CVS as simply a retailer of a different sort, the reality is that CVS has become much more than a drugstore in 2021. Over the past few years, an investment in acute care and vaccination services in-store has paid off big time as CVS is now a critical part of the vaccine rollout in the U.S. In fact, a recent Wall Street Journal report noted the company has delivered over 3 million vaccines.\nThat’s a short-term opportunity, to be sure. But more importantly, it has brought all those customers into its store and signed many of them up for marketing updates or its ExtraCare rewards program to keep them coming back over the long haul.\nSpeaking of the long haul, investors should not be fooled into thinking this is just a vaccine play. CVS has been shrewd in recent years, growing into a dominant provider of pharmacy benefit management solutions  and even acquiring primary care insurance provider Aetna in 2018. These operations ensure CVS thrives whether individual patients come in to their brick-and-mortar stores with a prescription or not. In fact, under the Global Industry Classification Standard the stock is grouped into “health-care plans” with other stocks like Cigna and UnitedHealthGroup and not with retailers.\nThe kicker is that CVS has a forward price-to-earnings ratio of about 9 right now, less than half that of the S&P 500’s 22, and well below peers like UNH in its industry group that are around 20. With a health-care focus that insulates it from rates and an attractive valuation, CVS is worth a look.\nGeneral Motors\nI made the case for General Motors earlier this year in a MarketWatch column. And with shares up about 40% year-to-date, it’s worth repeating that call here as GM has a lot of intrinsic value and remains at an attractive price even after this run.\nCase in point: GM is sitting on a forward P/E of less than 7, compared with 11 for Toyota and about 22 for the market at large.\nYou might say that’s because the market is discounting GM’s stock for a lack of innovation in the age of electric vehicles. But the truth is that GM is actually running with the pack of EV manfucaturers quite well. Its new Ultium battery power system is modular, allowing it to grow quickly into the many vehicle lines offered by this legacy automaker, and its BrightDrop subsidiary continues to innovate with developments include a 250-mile range delivery van. GM has publicly pledged to have a 100% electric portfolio by 2035, and is well on its way to that long-term goal.\nNow, you may write off this promise as the desperate public relations campaign of a company that has already been eclipsed by Tesla.But GM has one big thing Tesla doesn’t — a mature manufacturing operation that cranks out 7.7 million vehicles a year, and property and equipment valued at almost $80 billion, according to SEC filings.\nYes, the pandemic has created short-term disruptions for the automaker. And yes, there is long-term risk of missing out on the EV revolution. But GM has a ton of intrinsic value right now. And if rates are rising thanks to an economic recovery, you can expect folks to eagerly spend on GM vehicles rather than pay more in financing costs or sticker price later.","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343138643,"gmtCreate":1617686558382,"gmtModify":1704701793748,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","listText":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","text":"Let's be honest... This article is only touching the tip of the iceberg, it's not giving much depth to trigger more analysis. It's giving little but suggesting this as the beginning of Freddie Mac and Fanny Mae. All I can say, inconclusive.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343138643","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","pubTimestamp":1617672655,"share":"https://ttm.financial/m/news/1101907559?lang=&edition=fundamental","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<blockquote>\n <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>\n</blockquote>\n<p>Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p>\n<p>In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p>\n<p>Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p>\n<p>The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p>\n<p>A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p>\n<p><b>Unregulated money managers</b></p>\n<p>Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p>\n<p>This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p>\n<p>The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p>\n<p>But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p>\n<p><b>Danger of counterparty risk</b></p>\n<p>This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p>\n<p>So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p>\n<p>One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p>\n<p>But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p>\n<p><b>Yellen on the case</b></p>\n<p>This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p>\n<p>Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p>\n<p>The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 09:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of ...</p>\n\n<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355386243,"gmtCreate":1617028731682,"gmtModify":1704801100424,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Time to buy some Bank stocks! Pls like or comment ?","listText":"Time to buy some Bank stocks! Pls like or comment ?","text":"Time to buy some Bank stocks! Pls like or comment ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/355386243","repostId":"1180199356","repostType":4,"repost":{"id":"1180199356","pubTimestamp":1617025247,"share":"https://ttm.financial/m/news/1180199356?lang=&edition=fundamental","pubTime":"2021-03-29 21:40","market":"us","language":"en","title":"Bank stocks drop after Archegos Capital collapses","url":"https://stock-news.laohu8.com/highlight/detail?id=1180199356","media":"seekingalpha","summary":"Some of the biggest global banks drop in market trading after Archegos Capital, the family office ru","content":"<p>Some of the biggest global banks drop in market trading after Archegos Capital, the family office run by Bill Hwang,wasforced to liquidate, putting the banks in danger of losing billions of dollars.</p><p>Credit Suisse&nbsp;sinks 13%, Nomura&nbsp;slides 13%, Goldman Sachs&nbsp;drops 1%, and Morgan Stanley&nbsp;falls 2.78%, Deutsche Bank&nbsp;dips 2.96%.</p><p><img src=\"https://static.tigerbbs.com/467f28f9b672edc77c3cf438b196dccb\" tg-width=\"279\" tg-height=\"202\" referrerpolicy=\"no-referrer\"></p><p>While it didn't name the client, Credit Suisse&nbsp;warnedinvestors of&nbsp; a \"significant loss\" because it was forced to exit positions after \"a significant U.S.-based hedge fund defaulted on margin calls made last week\" made by CS and a number of other banks, the company said.</p><p>BofA Securities analyst Alastair Ryan downgraded CS to Neutral and reduced his 2021 forecast for the bank and price target due to the losses on the liquidation. \"We believe its capital cushion has likely been reduced to the point where its buyback is directly affected,\" Ryan wrote in a note to clients. (Updated at 7:45 AM ET.)</p><p>Nomura also said it mayincur a significant lossarising from transactions with a U.S. client; it's still calculating its possible loss from the event andestimates the claimagainst the client at ~$2B.</p><p>Morgan Stanley (MS), Goldman Sachs (GS), and Deutsche Bank (DB) are also reported to have been involved. MS and GS didn't immediately respond to request for comment.</p><p>Also see,ViacomCBS block of 45M shares was being offered by Morgan Stanley on Sunday</p><p>Earlier,Morgan Stanley had 'disturbing' widening in credit default swaps late last week, expert says.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank stocks drop after Archegos Capital collapses</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\">\nBank stocks drop after Archegos Capital collapses\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-29 21:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677088-bank-stocks-drop-after-archegos-capital-collapses><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Some of the biggest global banks drop in market trading after Archegos Capital, the family office run by Bill Hwang,wasforced to liquidate, putting the banks in danger of losing billions of dollars....</p>\n\n<a href=\"https://seekingalpha.com/news/3677088-bank-stocks-drop-after-archegos-capital-collapses\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/69af882c29a3ff047224139fe1096d17","relate_stocks":{"GS":"高盛","NMR":"野村控股","MS":"摩根士丹利","DB":"德意志银行"},"source_url":"https://seekingalpha.com/news/3677088-bank-stocks-drop-after-archegos-capital-collapses","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1180199356","content_text":"Some of the biggest global banks drop in market trading after Archegos Capital, the family office run by Bill Hwang,wasforced to liquidate, putting the banks in danger of losing billions of dollars.Credit Suisse sinks 13%, Nomura slides 13%, Goldman Sachs drops 1%, and Morgan Stanley falls 2.78%, Deutsche Bank dips 2.96%.While it didn't name the client, Credit Suisse warnedinvestors of  a \"significant loss\" because it was forced to exit positions after \"a significant U.S.-based hedge fund defaulted on margin calls made last week\" made by CS and a number of other banks, the company said.BofA Securities analyst Alastair Ryan downgraded CS to Neutral and reduced his 2021 forecast for the bank and price target due to the losses on the liquidation. \"We believe its capital cushion has likely been reduced to the point where its buyback is directly affected,\" Ryan wrote in a note to clients. (Updated at 7:45 AM ET.)Nomura also said it mayincur a significant lossarising from transactions with a U.S. client; it's still calculating its possible loss from the event andestimates the claimagainst the client at ~$2B.Morgan Stanley (MS), Goldman Sachs (GS), and Deutsche Bank (DB) are also reported to have been involved. MS and GS didn't immediately respond to request for comment.Also see,ViacomCBS block of 45M shares was being offered by Morgan Stanley on SundayEarlier,Morgan Stanley had 'disturbing' widening in credit default swaps late last week, expert says.","news_type":1},"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322202288,"gmtCreate":1615807193744,"gmtModify":1704786789620,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"I think GME will not stop Until it reaches 1500...&nbsp;","listText":"I think GME will not stop Until it reaches 1500...&nbsp;","text":"I think GME will not stop Until it reaches 1500...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322202288","repostId":"1158233246","repostType":4,"repost":{"id":"1158233246","pubTimestamp":1615805387,"share":"https://ttm.financial/m/news/1158233246?lang=&edition=fundamental","pubTime":"2021-03-15 18:49","market":"us","language":"en","title":"GameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.","url":"https://stock-news.laohu8.com/highlight/detail?id=1158233246","media":"barrons","summary":"For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a seri","content":"<p>For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to the next difficult phase: delivering a rebound.</p>\n<p>All three are emerging from brutal pandemic lockdowns. GameStop (ticker: GME) and AMC (AMC) also made it through short squeezes and retail trading frenzies. Each is now maneuvering through what many consider permanent shifts in the way consumers shop and seek entertainment.</p>\n<p>The companies each have mapped out paths forward, but at least two of the stocks—Gamestop and AMC—are apt to face more struggles.</p>\n<p>GameStop, which sells new and used videogames and consoles, is trying to transform itself from a collection of 5,000-plus traditional stores to a nimble digital force under the eye of Chewy (CHWY) founder Ryan Cohen, who bought a 9% stake last year and assumed a board seat. Shares jumped 97.1% last week, to a recent $264, on the formation of a committee on the company’s reinvention.</p>\n<p>Still, revenue was already trending down, from $9.2 billion in 2018 to $6.5 billion for 2020 and an estimated $5.2 billion for 2021. Analysts tracked by FactSet expect per-share losses for 2021 and 2022.</p>\n<p>Barron’s thought the shares looked pricey at $18 in January, and we haven’t changed our minds, given the monumental challenges ahead. GameStop said its committee will look for “identifying actions” to transform the company into a technology business.</p>\n<p>AMC and Cinemark (CNK) both are getting new life, particularly with the opening of theaters in major markets like Los Angeles and New York City. AMC beat earnings expectations for the fourth quarter, and shares popped 40.4% this past week, to a recent $11.16. But Lightshed Partners’ Richard Greenfield says AMC’s debt load—equal to 8.3 times 2022 estimated earnings before interest, taxes, and amortization—makes the stock a Sell. His price target: one penny.</p>\n<p>AMC couldn’t be reached for comment.</p>\n<p>Not all analysts are negative, but many point to AMC’s steeply rising costs, such as $450 million in deferred rent. AMC has been raising cash by selling shares and issuing convertible debt, and said in an earnings release Thursday that “we will continue to actively explore alternatives to raise additional capital and reduce our leverage.”</p>\n<p>Cinemark has less debt; leverage is under five times 2022 Ebita, and it is selling a $405 million bond to retire some of it. Cinemark recently flexed its muscles with Hollywood, opting not to show Disney’s (DIS) Raya and the Last Dragon, denting premier weekend box-office sales for the studio.</p>\n<p>Taking such a stand shows that theater chains still have some power, says Eric Wold of B. Riley Securities, who rates Cinemark a Buy. “This could force studios to take a closer look at distribution strategies,” he says.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop, AMC, and Cinemark Shares Have Been Whipsawed. What’s Ahead.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 18:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to ...</p>\n\n<a href=\"https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CNK":"喜满客影城","GME":"游戏驿站","AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/gamestop-amc-and-cinemark-could-see-more-turmoil-51615598763?mod=hp_DAY_13","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158233246","content_text":"For GameStop, AMC Entertainment Holdings, and Cinemark Holdings, the past 12 months have been a series of sickening lows and dizzying highs. Now that the worst appears to be over, they are moving to the next difficult phase: delivering a rebound.\nAll three are emerging from brutal pandemic lockdowns. GameStop (ticker: GME) and AMC (AMC) also made it through short squeezes and retail trading frenzies. Each is now maneuvering through what many consider permanent shifts in the way consumers shop and seek entertainment.\nThe companies each have mapped out paths forward, but at least two of the stocks—Gamestop and AMC—are apt to face more struggles.\nGameStop, which sells new and used videogames and consoles, is trying to transform itself from a collection of 5,000-plus traditional stores to a nimble digital force under the eye of Chewy (CHWY) founder Ryan Cohen, who bought a 9% stake last year and assumed a board seat. Shares jumped 97.1% last week, to a recent $264, on the formation of a committee on the company’s reinvention.\nStill, revenue was already trending down, from $9.2 billion in 2018 to $6.5 billion for 2020 and an estimated $5.2 billion for 2021. Analysts tracked by FactSet expect per-share losses for 2021 and 2022.\nBarron’s thought the shares looked pricey at $18 in January, and we haven’t changed our minds, given the monumental challenges ahead. GameStop said its committee will look for “identifying actions” to transform the company into a technology business.\nAMC and Cinemark (CNK) both are getting new life, particularly with the opening of theaters in major markets like Los Angeles and New York City. AMC beat earnings expectations for the fourth quarter, and shares popped 40.4% this past week, to a recent $11.16. But Lightshed Partners’ Richard Greenfield says AMC’s debt load—equal to 8.3 times 2022 estimated earnings before interest, taxes, and amortization—makes the stock a Sell. His price target: one penny.\nAMC couldn’t be reached for comment.\nNot all analysts are negative, but many point to AMC’s steeply rising costs, such as $450 million in deferred rent. AMC has been raising cash by selling shares and issuing convertible debt, and said in an earnings release Thursday that “we will continue to actively explore alternatives to raise additional capital and reduce our leverage.”\nCinemark has less debt; leverage is under five times 2022 Ebita, and it is selling a $405 million bond to retire some of it. Cinemark recently flexed its muscles with Hollywood, opting not to show Disney’s (DIS) Raya and the Last Dragon, denting premier weekend box-office sales for the studio.\nTaking such a stand shows that theater chains still have some power, says Eric Wold of B. Riley Securities, who rates Cinemark a Buy. “This could force studios to take a closer look at distribution strategies,” he says.","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370218416,"gmtCreate":1618585787735,"gmtModify":1704713169579,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","listText":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","text":"Oh wow! If it's true, then I can't wait! More cheap stocks to come","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370218416","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169376846,"gmtCreate":1623819188885,"gmtModify":1703820464118,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","listText":"Dollar-cost averaging only reduces&nbsp;the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","text":"Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169376846","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180474119,"gmtCreate":1623224450831,"gmtModify":1704198695892,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"More to come...","listText":"More to come...","text":"More to come...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/180474119","repostId":"1176918592","repostType":4,"isVote":1,"tweetType":1,"viewCount":162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376766042,"gmtCreate":1619149941186,"gmtModify":1704720421305,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Because of GME?! Hahaha","listText":"Because of GME?! Hahaha","text":"Because of GME?! Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376766042","repostId":"1141178573","repostType":4,"repost":{"id":"1141178573","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1619147275,"share":"https://ttm.financial/m/news/1141178573?lang=&edition=fundamental","pubTime":"2021-04-23 11:07","market":"us","language":"en","title":"Biden to float historic tax increase on investment gains for the rich","url":"https://stock-news.laohu8.com/highlight/detail?id=1141178573","media":"Reuters","summary":"President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the l","content":"<p>President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.</p><p>The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.</p><p>That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.</p><p>News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&amp;P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.</p><p>Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.</p><p>\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.</p><p>Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.</p><p>Biden has promised not to raise taxes on households earning less than $400,000.</p><p>Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.</p><p>White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.</p><p>She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.</p><p>\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.</p><p><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90dcdfac3c849d0483fcf1eaee00814\" tg-width=\"7824\" tg-height=\"5219\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"></p><p><i>U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom Brenner</i></p><p>She said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.</p><p>Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.</p><p><b>CAPITAL GAINS</b></p><p>Biden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.</p><p>Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.</p><p>Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.</p><p>Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.</p><p>\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.</p><p>Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.</p><p>Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.</p><p>Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.</p><p>For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.</p><p><b>Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax Rate</b></p><p>Today the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).</p><p>Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that<b>\"Congress will settle on a more modest increase, potentially around 28%.\"</b>As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"</p><p>1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.<b>We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.</b>This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.</p><p><b>2. We expect Congress will pass a scaled back version of this tax increase.</b>While it is possible that Congress might pass the proposal in its entirety,<b>we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.</b>This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.</p><p>3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,<b>comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue</b>.</p><p>4. It is unclear when the higher rate would be effective, but we see three main options.</p><ul><li>First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.</li><li>A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.</li><li>The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.</li></ul><p>While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).</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>Biden to float historic tax increase on investment gains for the rich</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\">\nBiden to float historic tax increase on investment gains for the rich\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-23 11:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.</p><p>The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.</p><p>That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.</p><p>News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&amp;P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.</p><p>Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.</p><p>\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.</p><p>Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.</p><p>Biden has promised not to raise taxes on households earning less than $400,000.</p><p>Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.</p><p>White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.</p><p>She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.</p><p>\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.</p><p><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90dcdfac3c849d0483fcf1eaee00814\" tg-width=\"7824\" tg-height=\"5219\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"></p><p><i>U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom Brenner</i></p><p>She said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.</p><p>Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.</p><p><b>CAPITAL GAINS</b></p><p>Biden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.</p><p>Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.</p><p>Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.</p><p>Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.</p><p>\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.</p><p>Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.</p><p>Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.</p><p>Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.</p><p>For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.</p><p><b>Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax Rate</b></p><p>Today the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).</p><p>Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that<b>\"Congress will settle on a more modest increase, potentially around 28%.\"</b>As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"</p><p>1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.<b>We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.</b>This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.</p><p><b>2. We expect Congress will pass a scaled back version of this tax increase.</b>While it is possible that Congress might pass the proposal in its entirety,<b>we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.</b>This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.</p><p>3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,<b>comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue</b>.</p><p>4. It is unclear when the higher rate would be effective, but we see three main options.</p><ul><li>First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.</li><li>A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.</li><li>The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.</li></ul><p>While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141178573","content_text":"President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.Biden has promised not to raise taxes on households earning less than $400,000.Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom BrennerShe said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.CAPITAL GAINSBiden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax RateToday the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that\"Congress will settle on a more modest increase, potentially around 28%.\"As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.2. We expect Congress will pass a scaled back version of this tax increase.While it is possible that Congress might pass the proposal in its entirety,we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue.4. It is unclear when the higher rate would be effective, but we see three main options.First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342760057,"gmtCreate":1618242947679,"gmtModify":1704708106875,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"I'm not convinced...","listText":"I'm not convinced...","text":"I'm not convinced...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342760057","repostId":"1188840982","repostType":4,"repost":{"id":"1188840982","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":1618237983,"share":"https://ttm.financial/m/news/1188840982?lang=&edition=fundamental","pubTime":"2021-04-12 22:33","market":"us","language":"en","title":"GameStop plunged more than 10%, GameStop Skeptic Warns That Reddit Rally Will Fade","url":"https://stock-news.laohu8.com/highlight/detail?id=1188840982","media":"Tiger Newspress","summary":"(April 12) GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares","content":"<p>(April 12)&nbsp;GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares Slump.</p>\n<p><img src=\"https://static.tigerbbs.com/0e0e81ec43e109abaa82e6aae6fe9a36\" tg-width=\"663\" tg-height=\"564\">GameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.</p>\n<p>The stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp.</p>\n<p>The video-game retailer’s 741% surge this year through Friday’s close pushed its market value to $11 billion, however, Woo expects shares will tumble in the long run “to match its current weak results and outlook.” He trimmed his price target to $10 from $12, implying as much as a 94% drop from Friday’s close at $158.36.</p>\n<p>Shares of the Grapevine, Texas-based company reversed initial gains to slump as much as 11% at 9:58 a.m. in New York. The stock has shed a quarter of its value in the past six session after a company plan to sell as much as $1 billion in additional shares.</p>\n<p>Ascendiant called out the rise in popularity of GameStop on Reddit chat boards and with Robinhood investors for making shares trade on “retail investors sentiment, hope, momentum, and the powers of crowds” in place of fundamental metrics. Woo did acknowledge the mania can drive shares much higher in the near-term, making short-term price forecasts “nearly impossible.”</p>\n<p>The stock now has five sell-equivalent ratings, compared to two hold ratings and zero buys, data compiled by Bloomberg show. An average price target of $46.50 implies shares will lose more than two-thirds of their value in the coming year.</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>GameStop plunged more than 10%, GameStop Skeptic Warns That Reddit Rally Will Fade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop plunged more than 10%, GameStop Skeptic Warns That Reddit Rally Will Fade\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-12 22:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April 12)&nbsp;GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares Slump.</p>\n<p><img src=\"https://static.tigerbbs.com/0e0e81ec43e109abaa82e6aae6fe9a36\" tg-width=\"663\" tg-height=\"564\">GameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.</p>\n<p>The stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp.</p>\n<p>The video-game retailer’s 741% surge this year through Friday’s close pushed its market value to $11 billion, however, Woo expects shares will tumble in the long run “to match its current weak results and outlook.” He trimmed his price target to $10 from $12, implying as much as a 94% drop from Friday’s close at $158.36.</p>\n<p>Shares of the Grapevine, Texas-based company reversed initial gains to slump as much as 11% at 9:58 a.m. in New York. The stock has shed a quarter of its value in the past six session after a company plan to sell as much as $1 billion in additional shares.</p>\n<p>Ascendiant called out the rise in popularity of GameStop on Reddit chat boards and with Robinhood investors for making shares trade on “retail investors sentiment, hope, momentum, and the powers of crowds” in place of fundamental metrics. Woo did acknowledge the mania can drive shares much higher in the near-term, making short-term price forecasts “nearly impossible.”</p>\n<p>The stock now has five sell-equivalent ratings, compared to two hold ratings and zero buys, data compiled by Bloomberg show. An average price target of $46.50 implies shares will lose more than two-thirds of their value in the coming year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188840982","content_text":"(April 12) GameStop plunged more than 10%，GameStop Skeptic Warns That Reddit Rally Will Fade; Shares Slump.\nGameStop Corp.’s Reddit-fueled trading surge is likely going to fade as threats from digital game downloads sink in, according to one skeptical Wall Street analyst.\nThe stock slumped after Ascendiant Capital Markets analyst Edward Woo downgraded the retailer to sell from hold, saying increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share. He warned clients in a note about the long-term prospects for the company as the market for new gaming systems matures after new launches from Microsoft Corp. and Sony Group Corp.\nThe video-game retailer’s 741% surge this year through Friday’s close pushed its market value to $11 billion, however, Woo expects shares will tumble in the long run “to match its current weak results and outlook.” He trimmed his price target to $10 from $12, implying as much as a 94% drop from Friday’s close at $158.36.\nShares of the Grapevine, Texas-based company reversed initial gains to slump as much as 11% at 9:58 a.m. in New York. The stock has shed a quarter of its value in the past six session after a company plan to sell as much as $1 billion in additional shares.\nAscendiant called out the rise in popularity of GameStop on Reddit chat boards and with Robinhood investors for making shares trade on “retail investors sentiment, hope, momentum, and the powers of crowds” in place of fundamental metrics. Woo did acknowledge the mania can drive shares much higher in the near-term, making short-term price forecasts “nearly impossible.”\nThe stock now has five sell-equivalent ratings, compared to two hold ratings and zero buys, data compiled by Bloomberg show. An average price target of $46.50 implies shares will lose more than two-thirds of their value in the coming year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183923469,"gmtCreate":1623301611751,"gmtModify":1704200440761,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...&nbsp;","listText":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...&nbsp;","text":"All these are just revealing what is known .. really? Stimulus can go on forever? The stock market had to see another slump, the economy has to see another crisis... Then there is growth...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183923469","repostId":"1198956414","repostType":4,"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183967887,"gmtCreate":1623301370649,"gmtModify":1704200432334,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Funny how the news doesn't share the predictability rate","listText":"Funny how the news doesn't share the predictability rate","text":"Funny how the news doesn't share the predictability rate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/183967887","repostId":"2142210925","repostType":4,"repost":{"id":"2142210925","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623289980,"share":"https://ttm.financial/m/news/2142210925?lang=&edition=fundamental","pubTime":"2021-06-10 09:53","market":"us","language":"en","title":"This robot-run fund thinks GameStop stock will soar in June, and predicts a fall for Tesla and Amazon","url":"https://stock-news.laohu8.com/highlight/detail?id=2142210925","media":"Dow Jones","summary":"Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the","content":"<p>Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the AMOM fund on June 2</p>\n<p>An exchange-traded fund driven by artificial intelligence booted Tesla and Amazon from its portfolio in June, instead choosing to load up on shares of companies including Qualcomm, Snap and GameStop.</p>\n<p>The Qraft AI-Enhanced U.S. Large Cap Momentum ETF, trading as AMOM <a href=\"https://laohu8.com/S/AMOM\">$(AMOM)$</a> on the New York Stock Exchange, removed major technology companies from its portfolio this month, as it shifted to favor retailers and other post-pandemic trades.</p>\n<p>Electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> and online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> represented two of the fund's three largest holdings in May, but were completely removed in the latest rebalancing on June 2, along with graphics microchip maker Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, which was its sixth-largest holding. The artificial-intelligence program controlling the fund believes these stocks will see price declines across the coming month.</p>\n<p>The standout among the stocks added in June was GameStop <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>, the videogame retailer that epitomized the \"meme stock\" trading frenzy that began in late January.</p>\n<p>This was when a flock of investors, largely organized on social media platform Reddit, helped squeeze hedge funds' short positions on companies including GameStop, cinema chain AMC <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, and tech group BlackBerry (BB.T) earlier this year. The trading frenzy caused multibillion-dollar losses for hedge funds, unbelievable gains for individuals that timed it right, and ushered in a new era of internet-inspired trading.</p>\n<p>GameStop's stock price rose almost 10-fold from Jan. 15 to Jan. 27, from $35 per share to nearly $350. The stock is currently trading around $300 and makes up around 1% of AMOM. And now the AI calling the shots thinks it will move even higher in June, and the shares have already gained more than 6% since the stock was added to the fund for the first time.</p>\n<p>\"Few fund managers would take the risk of adding a meme stock to their portfolios, but Qraft's AI model has no such prejudices,\" said Geeseok Oh, a managing director at Qraft and the head of its Asia-Pacific business.</p>\n<p>The top five stocks by portfolio weight added to AMOM in June include semiconductor group Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>, Big Tobacco company Philip Morris <a href=\"https://laohu8.com/S/PM\">$(PM)$</a>, social-media player Snap <a href=\"https://laohu8.com/S/SNAP\">$(SNAP)$</a>, medical technology specialists Edwards Lifesciences <a href=\"https://laohu8.com/S/EW\">$(EW)$</a>, and orthodontics group Align Technology <a href=\"https://laohu8.com/S/ALGN\">$(ALGN)$</a>.</p>\n<p>After the fund was rebalanced, AMOM's top five largest holdings by portfolio weight were tech giant <a href=\"https://laohu8.com/S/FB\">Facebook</a> (FB), retailers Walmart <a href=\"https://laohu8.com/S/WMT\">$(WMT)$</a> and Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, software company Adobe <a href=\"https://laohu8.com/S/ADBE\">$(ADBE)$</a>, and semiconductor manufacturing company Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>.</p>\n<p>\"This month, AMOM's portfolio appears to be shifting towards post-pandemic trades, a bit more diversified of a portfolio from the previous month's big tech-heavy strategy,\" said Oh.</p>\n<p>AMOM's decision to remove Tesla from its portfolio came after a bullish bet failed to pay off. The fund bought around $1.4 million worth of shares in the electric-vehicle company in May after avoiding the stock for months, and shares in Tesla fell 7% before the AI ditched it from the fund. This mistake with Tesla was a rare occurrence for the robot controlling AMOM, which otherwise has a strong record of predicting moves in the company's share price .</p>\n<p>AMOM has been listed in New York since May 2019, and has delivered total returns of 11% so far in 2021 and 53% in the past year -- outpacing its benchmark, the S&amp;P 500 Momentum index , which has climbed a comparable 26% in the past year.</p>\n<p>AMOM is an actively managed portfolio driven by artificial intelligence, tracking 50 large-cap U.S. stocks and reweighting its holdings each month. It is based on a momentum strategy, with the AI behind its stock picks capitalizing on the movements of existing market trends to inform the decision to add, remove, or reweight holdings. The artificial intelligence scans the market and uses its predictive power to analyze a wide set of patterns that show stock-market momentum.</p>\n<p>The fund is a product of Qraft, a Seoul, South Korea-based fintech group leveraging AI across its investment products, which include three other AI-picked versions of major indexes: a U.S. large cap index <a href=\"https://laohu8.com/S/QRFT\">$(QRFT)$</a>; a U.S. large cap dividend index <a href=\"https://laohu8.com/S/HDIV.UK\">$(HDIV.UK)$</a>; and a U.S. value index <a href=\"https://laohu8.com/S/NVQ\">$(NVQ)$</a>.</p>\n<p>The entrance of AI-run funds onto Wall Street promised a new high-tech future for investing, though it hasn't quite lived up to the hype yet. Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis , when tested against historical data.</p>\n<p>But Vasant Dhar, a professor at New York University's Stern School of Business and the founder of machine-learning-based hedge fund SCT Capital Management, argued on MarketWatch in June 2020 that AI-run funds won't \"crack\" the code of the stock market.</p>\n<p>Advocating caution, Dhar said that it was difficult for funds underpinned by machine learning to maintain a sustainable edge over markets, which have \"a nonstationary and adversarial nature.\" He advised investors considering an AI system to ask tough questions, including how likely it is that the AI's \"edge\" will persist into the future, and what the inherent uncertainties and range of performance outcomes for the fund are.</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>This robot-run fund thinks GameStop stock will soar in June, and predicts a fall for Tesla and Amazon</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\">\nThis robot-run fund thinks GameStop stock will soar in June, and predicts a fall for Tesla and Amazon\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-10 09:53</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the AMOM fund on June 2</p>\n<p>An exchange-traded fund driven by artificial intelligence booted Tesla and Amazon from its portfolio in June, instead choosing to load up on shares of companies including Qualcomm, Snap and GameStop.</p>\n<p>The Qraft AI-Enhanced U.S. Large Cap Momentum ETF, trading as AMOM <a href=\"https://laohu8.com/S/AMOM\">$(AMOM)$</a> on the New York Stock Exchange, removed major technology companies from its portfolio this month, as it shifted to favor retailers and other post-pandemic trades.</p>\n<p>Electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> and online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> represented two of the fund's three largest holdings in May, but were completely removed in the latest rebalancing on June 2, along with graphics microchip maker Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, which was its sixth-largest holding. The artificial-intelligence program controlling the fund believes these stocks will see price declines across the coming month.</p>\n<p>The standout among the stocks added in June was GameStop <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>, the videogame retailer that epitomized the \"meme stock\" trading frenzy that began in late January.</p>\n<p>This was when a flock of investors, largely organized on social media platform Reddit, helped squeeze hedge funds' short positions on companies including GameStop, cinema chain AMC <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, and tech group BlackBerry (BB.T) earlier this year. The trading frenzy caused multibillion-dollar losses for hedge funds, unbelievable gains for individuals that timed it right, and ushered in a new era of internet-inspired trading.</p>\n<p>GameStop's stock price rose almost 10-fold from Jan. 15 to Jan. 27, from $35 per share to nearly $350. The stock is currently trading around $300 and makes up around 1% of AMOM. And now the AI calling the shots thinks it will move even higher in June, and the shares have already gained more than 6% since the stock was added to the fund for the first time.</p>\n<p>\"Few fund managers would take the risk of adding a meme stock to their portfolios, but Qraft's AI model has no such prejudices,\" said Geeseok Oh, a managing director at Qraft and the head of its Asia-Pacific business.</p>\n<p>The top five stocks by portfolio weight added to AMOM in June include semiconductor group Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>, Big Tobacco company Philip Morris <a href=\"https://laohu8.com/S/PM\">$(PM)$</a>, social-media player Snap <a href=\"https://laohu8.com/S/SNAP\">$(SNAP)$</a>, medical technology specialists Edwards Lifesciences <a href=\"https://laohu8.com/S/EW\">$(EW)$</a>, and orthodontics group Align Technology <a href=\"https://laohu8.com/S/ALGN\">$(ALGN)$</a>.</p>\n<p>After the fund was rebalanced, AMOM's top five largest holdings by portfolio weight were tech giant <a href=\"https://laohu8.com/S/FB\">Facebook</a> (FB), retailers Walmart <a href=\"https://laohu8.com/S/WMT\">$(WMT)$</a> and Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, software company Adobe <a href=\"https://laohu8.com/S/ADBE\">$(ADBE)$</a>, and semiconductor manufacturing company Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>.</p>\n<p>\"This month, AMOM's portfolio appears to be shifting towards post-pandemic trades, a bit more diversified of a portfolio from the previous month's big tech-heavy strategy,\" said Oh.</p>\n<p>AMOM's decision to remove Tesla from its portfolio came after a bullish bet failed to pay off. The fund bought around $1.4 million worth of shares in the electric-vehicle company in May after avoiding the stock for months, and shares in Tesla fell 7% before the AI ditched it from the fund. This mistake with Tesla was a rare occurrence for the robot controlling AMOM, which otherwise has a strong record of predicting moves in the company's share price .</p>\n<p>AMOM has been listed in New York since May 2019, and has delivered total returns of 11% so far in 2021 and 53% in the past year -- outpacing its benchmark, the S&amp;P 500 Momentum index , which has climbed a comparable 26% in the past year.</p>\n<p>AMOM is an actively managed portfolio driven by artificial intelligence, tracking 50 large-cap U.S. stocks and reweighting its holdings each month. It is based on a momentum strategy, with the AI behind its stock picks capitalizing on the movements of existing market trends to inform the decision to add, remove, or reweight holdings. The artificial intelligence scans the market and uses its predictive power to analyze a wide set of patterns that show stock-market momentum.</p>\n<p>The fund is a product of Qraft, a Seoul, South Korea-based fintech group leveraging AI across its investment products, which include three other AI-picked versions of major indexes: a U.S. large cap index <a href=\"https://laohu8.com/S/QRFT\">$(QRFT)$</a>; a U.S. large cap dividend index <a href=\"https://laohu8.com/S/HDIV.UK\">$(HDIV.UK)$</a>; and a U.S. value index <a href=\"https://laohu8.com/S/NVQ\">$(NVQ)$</a>.</p>\n<p>The entrance of AI-run funds onto Wall Street promised a new high-tech future for investing, though it hasn't quite lived up to the hype yet. Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis , when tested against historical data.</p>\n<p>But Vasant Dhar, a professor at New York University's Stern School of Business and the founder of machine-learning-based hedge fund SCT Capital Management, argued on MarketWatch in June 2020 that AI-run funds won't \"crack\" the code of the stock market.</p>\n<p>Advocating caution, Dhar said that it was difficult for funds underpinned by machine learning to maintain a sustainable edge over markets, which have \"a nonstationary and adversarial nature.\" He advised investors considering an AI system to ask tough questions, including how likely it is that the AI's \"edge\" will persist into the future, and what the inherent uncertainties and range of performance outcomes for the fund are.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","09086":"华夏纳指-U","QCOM":"高通","GME":"游戏驿站","TSLA":"特斯拉","ALGN":"艾利科技","HD":"家得宝","TXN":"德州仪器","QNETCN":"纳斯达克中美互联网老虎指数","03086":"华夏纳指","ADBE":"Adobe","WMT":"沃尔玛","SNAP":"Snap Inc","AMOM":"QRAFT AI-Enhanced U.S. Large Cap Momentum ETF","PM":"菲利普莫里斯","AMZN":"亚马逊","EW":"爱德华兹"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142210925","content_text":"Shares in GameStop have already climbed since an artificial-intelligence trading bot added it to the AMOM fund on June 2\nAn exchange-traded fund driven by artificial intelligence booted Tesla and Amazon from its portfolio in June, instead choosing to load up on shares of companies including Qualcomm, Snap and GameStop.\nThe Qraft AI-Enhanced U.S. Large Cap Momentum ETF, trading as AMOM $(AMOM)$ on the New York Stock Exchange, removed major technology companies from its portfolio this month, as it shifted to favor retailers and other post-pandemic trades.\nElectric-car maker Tesla $(TSLA)$ and online retailer Amazon $(AMZN)$ represented two of the fund's three largest holdings in May, but were completely removed in the latest rebalancing on June 2, along with graphics microchip maker Nvidia $(NVDA)$, which was its sixth-largest holding. The artificial-intelligence program controlling the fund believes these stocks will see price declines across the coming month.\nThe standout among the stocks added in June was GameStop $(GME)$, the videogame retailer that epitomized the \"meme stock\" trading frenzy that began in late January.\nThis was when a flock of investors, largely organized on social media platform Reddit, helped squeeze hedge funds' short positions on companies including GameStop, cinema chain AMC $(AMC)$, and tech group BlackBerry (BB.T) earlier this year. The trading frenzy caused multibillion-dollar losses for hedge funds, unbelievable gains for individuals that timed it right, and ushered in a new era of internet-inspired trading.\nGameStop's stock price rose almost 10-fold from Jan. 15 to Jan. 27, from $35 per share to nearly $350. The stock is currently trading around $300 and makes up around 1% of AMOM. And now the AI calling the shots thinks it will move even higher in June, and the shares have already gained more than 6% since the stock was added to the fund for the first time.\n\"Few fund managers would take the risk of adding a meme stock to their portfolios, but Qraft's AI model has no such prejudices,\" said Geeseok Oh, a managing director at Qraft and the head of its Asia-Pacific business.\nThe top five stocks by portfolio weight added to AMOM in June include semiconductor group Qualcomm $(QCOM)$, Big Tobacco company Philip Morris $(PM)$, social-media player Snap $(SNAP)$, medical technology specialists Edwards Lifesciences $(EW)$, and orthodontics group Align Technology $(ALGN)$.\nAfter the fund was rebalanced, AMOM's top five largest holdings by portfolio weight were tech giant Facebook (FB), retailers Walmart $(WMT)$ and Home Depot $(HD)$, software company Adobe $(ADBE)$, and semiconductor manufacturing company Texas Instruments $(TXN)$.\n\"This month, AMOM's portfolio appears to be shifting towards post-pandemic trades, a bit more diversified of a portfolio from the previous month's big tech-heavy strategy,\" said Oh.\nAMOM's decision to remove Tesla from its portfolio came after a bullish bet failed to pay off. The fund bought around $1.4 million worth of shares in the electric-vehicle company in May after avoiding the stock for months, and shares in Tesla fell 7% before the AI ditched it from the fund. This mistake with Tesla was a rare occurrence for the robot controlling AMOM, which otherwise has a strong record of predicting moves in the company's share price .\nAMOM has been listed in New York since May 2019, and has delivered total returns of 11% so far in 2021 and 53% in the past year -- outpacing its benchmark, the S&P 500 Momentum index , which has climbed a comparable 26% in the past year.\nAMOM is an actively managed portfolio driven by artificial intelligence, tracking 50 large-cap U.S. stocks and reweighting its holdings each month. It is based on a momentum strategy, with the AI behind its stock picks capitalizing on the movements of existing market trends to inform the decision to add, remove, or reweight holdings. The artificial intelligence scans the market and uses its predictive power to analyze a wide set of patterns that show stock-market momentum.\nThe fund is a product of Qraft, a Seoul, South Korea-based fintech group leveraging AI across its investment products, which include three other AI-picked versions of major indexes: a U.S. large cap index $(QRFT)$; a U.S. large cap dividend index $(HDIV.UK)$; and a U.S. value index $(NVQ)$.\nThe entrance of AI-run funds onto Wall Street promised a new high-tech future for investing, though it hasn't quite lived up to the hype yet. Theoretically, researchers have shown that AI investing strategies can beat the market by up to 40% on an annualized basis , when tested against historical data.\nBut Vasant Dhar, a professor at New York University's Stern School of Business and the founder of machine-learning-based hedge fund SCT Capital Management, argued on MarketWatch in June 2020 that AI-run funds won't \"crack\" the code of the stock market.\nAdvocating caution, Dhar said that it was difficult for funds underpinned by machine learning to maintain a sustainable edge over markets, which have \"a nonstationary and adversarial nature.\" He advised investors considering an AI system to ask tough questions, including how likely it is that the AI's \"edge\" will persist into the future, and what the inherent uncertainties and range of performance outcomes for the fund are.","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197046099,"gmtCreate":1621413896111,"gmtModify":1704357231959,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Go gold or go home","listText":"Go gold or go home","text":"Go gold or go home","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/197046099","repostId":"2136822915","repostType":4,"repost":{"id":"2136822915","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":1621411736,"share":"https://ttm.financial/m/news/2136822915?lang=&edition=fundamental","pubTime":"2021-05-19 16:08","market":"fut","language":"en","title":"Crypto stocks tumbled in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=2136822915","media":"Tiger Newspress","summary":"Crypto stocks tumbled in premarket trading on Bitcoin sliding below $40,000 after China's fresh cryp","content":"<p>Crypto stocks tumbled in premarket trading&nbsp;on&nbsp;Bitcoin sliding below $40,000 after China's fresh crypto curbs.</p><p><img src=\"https://static.tigerbbs.com/270e4af4516a319658e0395134a1c039\" tg-width=\"369\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p>Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.</p><p>Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.</p><p>The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.</p><p>Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.</p><p>Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.</p><p>The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.</p><p>Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.</p><p>Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.</p><p>More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.</p><p>This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"</p><p>The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.</p><p>Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.</p><p>The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.</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>Crypto stocks tumbled in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto stocks tumbled in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-19 16:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Crypto stocks tumbled in premarket trading&nbsp;on&nbsp;Bitcoin sliding below $40,000 after China's fresh crypto curbs.</p><p><img src=\"https://static.tigerbbs.com/270e4af4516a319658e0395134a1c039\" tg-width=\"369\" tg-height=\"424\" referrerpolicy=\"no-referrer\"></p><p>Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.</p><p>Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.</p><p>The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.</p><p>Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.</p><p>Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.</p><p>The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.</p><p>Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.</p><p>Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.</p><p>More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.</p><p>This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"</p><p>The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.</p><p>Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.</p><p>The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EBON":"亿邦国际","SOS":"SOS Limited","PYPL":"PayPal","RIOT":"Riot Platforms","MARA":"Marathon Digital Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136822915","content_text":"Crypto stocks tumbled in premarket trading on Bitcoin sliding below $40,000 after China's fresh crypto curbs.Bitcoin tumbled below the $40,000 mark on Wednesday hitting a 3-1/2 month low and dragging down other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.Bitcoin , the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk but the news from China sent it as low as $38,514, for a 9% fall.The coin is now down 40% from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.Bitcoin's moves hit other crypto assets too, with Ether, the coin linked to the ethereum blockchain network, falling 15% to $2,875.36, while meme-based dogecoin tumbled 18%, according to market tracker Coingecko.Frankfurt-listed shares in crypto exchange Coinbase slumped 6%, having already dipped below their direct listing price of $250 earlier in the week.The crypto declines were sparked last week by Musk's reversal on Tesla accepting bitcoin as payment. His subsequent tweets caused further confusion over whether the carmaker had shed its holdings of the coin.Selling was exacerbated by China's announcement banning financial institutions and payment companies from providing services related to cryptocurrency transactions. It also warned investors against speculative crypto trading.Cryptowatchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier which could set the stage for more selling.More importantly, investors may be shifting from bitcoin back to gold, analysts at JPMorgan said, citing positioning data compiled on basis of open interest in CME bitcoin futures contracts.This shows \"the steepest and more sustained liquidation\" in bitcoin futures since last October, they told clients, adding: \"the bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors.\"The selloff in crypto assets precisely at a time when inflation fears are in the ascendancy dashes any suggestion of the asset class being an inflation hedge.Instead, more traditional hedges have been gaining ground, with gold up almost 6% so far this month.The recent selloff in bitcoin and other digital currencies has taken market capitalisation of all cryptocurrencies back under $2 trillion, down from the recent $2.5 trillion record.","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347603066,"gmtCreate":1618490384655,"gmtModify":1704711619279,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Should be MORE!","listText":"Should be MORE!","text":"Should be MORE!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347603066","repostId":"2127007082","repostType":4,"repost":{"id":"2127007082","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1618489860,"share":"https://ttm.financial/m/news/2127007082?lang=&edition=fundamental","pubTime":"2021-04-15 20:31","market":"us","language":"en","title":"U.S. retail sales surge; weekly jobless claims fall","url":"https://stock-news.laohu8.com/highlight/detail?id=2127007082","media":"Reuters","summary":"WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received ","content":"<p>WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received additional pandemic relief checks from the government and increased vaccinations allowed broader economic re-engagement, cementing expectations for robust growth in the first quarter.</p><p>Retail sales increased 9.8% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales dropping 2.7% instead of 3.0% as previously reported. Economists polled by Reuters had forecast retail sales increasing 5.9% in March.</p><p>Many qualified households have received additional $1,400 checks, which were part of the White House’s $1.9 trillion rescue package approved in early March. The massive fiscal stimulus also extended a government-funded $300 weekly unemployment supplement through Sept. 6.</p><p>At the same time, temperatures have warmed up and the public health situation has been rapidly improving, allowing more restaurants to offer dining services.</p><p>Excluding automobiles, gasoline, building materials and food services, retail sales rose 6.9% last month after a revised 3.4% decrease in February. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously estimated to have declined 3.5% in February.</p><p>Strengthening domestic demand was underscored by the Federal Reserve’s Beige Book on Wednesday, which described economic activity as having “accelerated to a moderate pace from late February to early April,” and also noted that “consumer spending strengthened.”</p><p>Growth estimates for the first quarter are as high as a 9.8% annualized rate. The economy grew at a 4.3% pace in the fourth quarter. Growth is expected to top 7.0% this year, which would be the fastest since 1984. It would follow a 3.5% contraction last year, the worst performance in 74 years.</p><p>Though a separate report from the Labor Department on Thursday showed first-time applications for unemployment benefits remained elevated last week, that is probably not a true reflection of the job market’s health.</p><p>Initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10 compared to 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.</p><p>Part of the elevation in claims is because of fraud. The enhancement of the unemployment benefit programs, including the weekly subsidy, could also be encouraging some people to file for aid and others to not to seek work.</p><p>According to Michael Feroli, chief U.S. economist at JPMorgan, an analysis of the Labor Department’s first payments data, which is published monthly and with a considerable lag, suggested aspirational filers are boosting jobless claims.</p><p>“Historically, about 45% of initial claims resulted in a first payment of benefits,” said Feroli.</p><p>“Over the last few months, fewer than 25% of initial claims generated a first payment of benefits. One reason may be that the $300 weekly bonus payments are encouraging more people to give filing a shot, the payoff from a successful claim is significantly greater than before the pandemic.”</p><p>Indeed, the Fed’s Beige Book also noted that “hiring remained a widespread challenge, particularly for low-wage or hourly workers, restraining job growth in some cases.”</p><p>While claims have dropped from a record 6.149 million in early April 2020, they are well above their pre-pandemic level. In a healthy labor market, claims are normally in a 200,000 to 250,000 range.</p><p>The government reported this month that employers hired 916,000 workers in March, the most in seven months.</p><p>Still, employment remains 8.4 million jobs below its peak in February 2020. (Reporting by Lucia Mutikani Editing by Chizu Nomiyama)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. retail sales surge; weekly jobless claims fall</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. retail sales surge; weekly jobless claims fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-15 20:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received additional pandemic relief checks from the government and increased vaccinations allowed broader economic re-engagement, cementing expectations for robust growth in the first quarter.</p><p>Retail sales increased 9.8% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales dropping 2.7% instead of 3.0% as previously reported. Economists polled by Reuters had forecast retail sales increasing 5.9% in March.</p><p>Many qualified households have received additional $1,400 checks, which were part of the White House’s $1.9 trillion rescue package approved in early March. The massive fiscal stimulus also extended a government-funded $300 weekly unemployment supplement through Sept. 6.</p><p>At the same time, temperatures have warmed up and the public health situation has been rapidly improving, allowing more restaurants to offer dining services.</p><p>Excluding automobiles, gasoline, building materials and food services, retail sales rose 6.9% last month after a revised 3.4% decrease in February. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously estimated to have declined 3.5% in February.</p><p>Strengthening domestic demand was underscored by the Federal Reserve’s Beige Book on Wednesday, which described economic activity as having “accelerated to a moderate pace from late February to early April,” and also noted that “consumer spending strengthened.”</p><p>Growth estimates for the first quarter are as high as a 9.8% annualized rate. The economy grew at a 4.3% pace in the fourth quarter. Growth is expected to top 7.0% this year, which would be the fastest since 1984. It would follow a 3.5% contraction last year, the worst performance in 74 years.</p><p>Though a separate report from the Labor Department on Thursday showed first-time applications for unemployment benefits remained elevated last week, that is probably not a true reflection of the job market’s health.</p><p>Initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10 compared to 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.</p><p>Part of the elevation in claims is because of fraud. The enhancement of the unemployment benefit programs, including the weekly subsidy, could also be encouraging some people to file for aid and others to not to seek work.</p><p>According to Michael Feroli, chief U.S. economist at JPMorgan, an analysis of the Labor Department’s first payments data, which is published monthly and with a considerable lag, suggested aspirational filers are boosting jobless claims.</p><p>“Historically, about 45% of initial claims resulted in a first payment of benefits,” said Feroli.</p><p>“Over the last few months, fewer than 25% of initial claims generated a first payment of benefits. One reason may be that the $300 weekly bonus payments are encouraging more people to give filing a shot, the payoff from a successful claim is significantly greater than before the pandemic.”</p><p>Indeed, the Fed’s Beige Book also noted that “hiring remained a widespread challenge, particularly for low-wage or hourly workers, restraining job growth in some cases.”</p><p>While claims have dropped from a record 6.149 million in early April 2020, they are well above their pre-pandemic level. In a healthy labor market, claims are normally in a 200,000 to 250,000 range.</p><p>The government reported this month that employers hired 916,000 workers in March, the most in seven months.</p><p>Still, employment remains 8.4 million jobs below its peak in February 2020. (Reporting by Lucia Mutikani Editing by Chizu Nomiyama)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TERN":"Terns Pharmaceuticals, Inc.","CRCT":"Cricut, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127007082","content_text":"WASHINGTON, April 15 (Reuters) - U.S. retail sales rebounded sharply in March as Americans received additional pandemic relief checks from the government and increased vaccinations allowed broader economic re-engagement, cementing expectations for robust growth in the first quarter.Retail sales increased 9.8% last month, the Commerce Department said on Thursday. Data for February was revised higher to show sales dropping 2.7% instead of 3.0% as previously reported. Economists polled by Reuters had forecast retail sales increasing 5.9% in March.Many qualified households have received additional $1,400 checks, which were part of the White House’s $1.9 trillion rescue package approved in early March. The massive fiscal stimulus also extended a government-funded $300 weekly unemployment supplement through Sept. 6.At the same time, temperatures have warmed up and the public health situation has been rapidly improving, allowing more restaurants to offer dining services.Excluding automobiles, gasoline, building materials and food services, retail sales rose 6.9% last month after a revised 3.4% decrease in February. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously estimated to have declined 3.5% in February.Strengthening domestic demand was underscored by the Federal Reserve’s Beige Book on Wednesday, which described economic activity as having “accelerated to a moderate pace from late February to early April,” and also noted that “consumer spending strengthened.”Growth estimates for the first quarter are as high as a 9.8% annualized rate. The economy grew at a 4.3% pace in the fourth quarter. Growth is expected to top 7.0% this year, which would be the fastest since 1984. It would follow a 3.5% contraction last year, the worst performance in 74 years.Though a separate report from the Labor Department on Thursday showed first-time applications for unemployment benefits remained elevated last week, that is probably not a true reflection of the job market’s health.Initial claims for state unemployment benefits totaled a seasonally adjusted 576,000 for the week ended April 10 compared to 769,000 in the prior week. Economists polled by Reuters had forecast 700,000 applications in the latest week.Part of the elevation in claims is because of fraud. The enhancement of the unemployment benefit programs, including the weekly subsidy, could also be encouraging some people to file for aid and others to not to seek work.According to Michael Feroli, chief U.S. economist at JPMorgan, an analysis of the Labor Department’s first payments data, which is published monthly and with a considerable lag, suggested aspirational filers are boosting jobless claims.“Historically, about 45% of initial claims resulted in a first payment of benefits,” said Feroli.“Over the last few months, fewer than 25% of initial claims generated a first payment of benefits. One reason may be that the $300 weekly bonus payments are encouraging more people to give filing a shot, the payoff from a successful claim is significantly greater than before the pandemic.”Indeed, the Fed’s Beige Book also noted that “hiring remained a widespread challenge, particularly for low-wage or hourly workers, restraining job growth in some cases.”While claims have dropped from a record 6.149 million in early April 2020, they are well above their pre-pandemic level. In a healthy labor market, claims are normally in a 200,000 to 250,000 range.The government reported this month that employers hired 916,000 workers in March, the most in seven months.Still, employment remains 8.4 million jobs below its peak in February 2020. (Reporting by Lucia Mutikani Editing by Chizu Nomiyama)","news_type":1},"isVote":1,"tweetType":1,"viewCount":118,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354986558,"gmtCreate":1617118806474,"gmtModify":1704696160491,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Everyone is hedging on BTC?","listText":"Everyone is hedging on BTC?","text":"Everyone is hedging on BTC?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354986558","repostId":"1130322587","repostType":4,"repost":{"id":"1130322587","pubTimestamp":1617117829,"share":"https://ttm.financial/m/news/1130322587?lang=&edition=fundamental","pubTime":"2021-03-30 23:23","market":"fut","language":"en","title":"Gold falls below the $1,700 benchmark","url":"https://stock-news.laohu8.com/highlight/detail?id=1130322587","media":"seekingalpha","summary":"Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark -1.53%. Gold is down","content":"<p>Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark&nbsp;-1.53%. Gold is down&nbsp;-11.72%&nbsp;YTD and&nbsp;-18.51%&nbsp;since early August of 2020.</p><p>Interestingly enough, bitcoin (BTC-USD), on the other hand, is&nbsp;+1.50%&nbsp;on the day and is&nbsp;+102.88%&nbsp;YTD. Some investors see the digital currency stealing market share from gold as investors have chosen the cryptocurrency over gold of late.</p><p>This inverse relationship between gold and bitcoin is not a first-time offense. Dating back to the fourth quarter of 2017, bitcoin ran up over&nbsp;300.00%&nbsp;to its then all-time high of $19,458 back on December 18th. During that time, investors saw gold slide over&nbsp;-7.00%&nbsp;to the downside.</p><p>While it's possible that bitcoin may be stealing a portion of gold's market share, there are still other significant factors at play. The fact that the&nbsp;vaccine rollout continues to strengthen and virus impacts subside doesn't play well for the haven asset.</p><p>Below is a YTD chart of the performance on gold and bitcoin.</p><p><img src=\"https://static.tigerbbs.com/a204efa6aa1c1a89a34f9ff928318c57\" tg-width=\"624\" tg-height=\"321\" referrerpolicy=\"no-referrer\">For investors looking to learn more about the value of gold, here are a few exchange traded funds worth examining: SPDR Gold Trust ETF(NYSEARCA:GLD), VanEck Vectors Gold Miners ETF(NYSEARCA:GDX), Aberdeen Standard Physical Gold Shares ETF(NYSEARCA:SGOL), and iShares Gold Trust ETF(NYSEARCA:IAU).</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>Gold falls below the $1,700 benchmark</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\">\nGold falls below the $1,700 benchmark\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 23:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677654-gold-falls-below-the-1700-benchmark><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark -1.53%. Gold is down -11.72% YTD and -18.51% since early August of 2020.Interestingly enough, bitcoin (BTC-USD), on the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3677654-gold-falls-below-the-1700-benchmark\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4be30a3c11bd91e9d1f864c6a098fab1","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3677654-gold-falls-below-the-1700-benchmark","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130322587","content_text":"Gold continues to drop in Tuesday's trading, falling below the $1,700 watermark -1.53%. Gold is down -11.72% YTD and -18.51% since early August of 2020.Interestingly enough, bitcoin (BTC-USD), on the other hand, is +1.50% on the day and is +102.88% YTD. Some investors see the digital currency stealing market share from gold as investors have chosen the cryptocurrency over gold of late.This inverse relationship between gold and bitcoin is not a first-time offense. Dating back to the fourth quarter of 2017, bitcoin ran up over 300.00% to its then all-time high of $19,458 back on December 18th. During that time, investors saw gold slide over -7.00% to the downside.While it's possible that bitcoin may be stealing a portion of gold's market share, there are still other significant factors at play. The fact that the vaccine rollout continues to strengthen and virus impacts subside doesn't play well for the haven asset.Below is a YTD chart of the performance on gold and bitcoin.For investors looking to learn more about the value of gold, here are a few exchange traded funds worth examining: SPDR Gold Trust ETF(NYSEARCA:GLD), VanEck Vectors Gold Miners ETF(NYSEARCA:GDX), Aberdeen Standard Physical Gold Shares ETF(NYSEARCA:SGOL), and iShares Gold Trust ETF(NYSEARCA:IAU).","news_type":1},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322208959,"gmtCreate":1615807020071,"gmtModify":1704786786527,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"I still think that there is some \"unknown\" potential to be realised for RH... It's been in my radar since 2019...","listText":"I still think that there is some \"unknown\" potential to be realised for RH... It's been in my radar since 2019...","text":"I still think that there is some \"unknown\" potential to be realised for RH... It's been in my radar since 2019...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322208959","repostId":"1164885443","repostType":4,"isVote":1,"tweetType":1,"viewCount":3,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144896388,"gmtCreate":1626274043844,"gmtModify":1703756931045,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Good news all around","listText":"Good news all around","text":"Good news all around","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144896388","repostId":"2151158165","repostType":2,"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169371531,"gmtCreate":1623819119623,"gmtModify":1703820461313,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost&nbsp;averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...&nbsp;","listText":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost&nbsp;averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...&nbsp;","text":"Someone commented to do DCA in the long run in spite of uncertainties. Dollar-cost averaging only reduces the risk of investing a lump sum of money when prices may be inflated, at which point the investment would steadily lose money when prices normalize. But this does not answer the question of what you have in your bank, your asset holding, the value of the stocks in a crash...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169371531","repostId":"1182315358","repostType":4,"repost":{"id":"1182315358","pubTimestamp":1623814338,"share":"https://ttm.financial/m/news/1182315358?lang=&edition=fundamental","pubTime":"2021-06-16 11:32","market":"us","language":"en","title":"It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1182315358","media":"MarketWatch","summary":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn","content":"<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/724d1ea0bb18bddb367c79abf08c1af9\" tg-width=\"1260\" tg-height=\"841\"><span>It takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)</span></p>\n<p>I don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.</p>\n<p>After 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.</p>\n<p>Maybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.</p>\n<p>But I simply don’t think that’s the most likely outcome.</p>\n<p>And if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.</p>\n<p>I’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.</p>\n<p>Trading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how&nbsp;good analysis starts with empathy.</p>\n<p><b>If I’m selling, who’s buying — and why?</b></p>\n<p>So let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference&nbsp;in Abu Dhabi and everybody was desperate for returns:</p>\n<p>Amid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”</p>\n<p>Since that post, back a year and a half ago, Slack&nbsp;went from $21 to being bought out at $45, Twitter&nbsp;went from $27 to $61, and Tesla&nbsp;went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.</p>\n<p>And now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by&nbsp;23-year-old TikTok influencers&nbsp;doing bitcoin&nbsp;trading astrology.</p>\n<p>Yes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.”&nbsp;Bearish anecdotes everywhere I look, as I wrote recently.</p>\n<p><b>Mr. Market</b></p>\n<p>The other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.</p>\n<p>Mr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.</p>\n<p>Sometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average&nbsp;up 400% from the 1921 lows to the 1929 highs.</p>\n<p><img src=\"https://static.tigerbbs.com/3a6516337aacc614d83584ea90e174f2\" tg-width=\"1260\" tg-height=\"870\"></p>\n<p><b>Learning from Soros</b></p>\n<p>But looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,<i>and</i>the economy crashed because the markets shut down access to capital for investment and growth.</p>\n<p>It was “reflexive,” to borrow a term from the great hedge fund manager&nbsp;George Soros.</p>\n<p>He wrote, and the concept is important to understand:</p>\n<p>“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…</p>\n<p>“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…</p>\n<p>“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…</p>\n<p>“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”</p>\n<p>Stay flexible</p>\n<p>Far-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.</p>\n<p>We don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.</p>\n<p>It’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.</p>\n<p>Most traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.</p>\n<p>We are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.</p>\n<p>I spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.</p>\n<p>As a matter of fact,&nbsp;I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIt’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-16 11:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what...</p>\n\n<a href=\"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/its-time-to-be-smart-like-soros-in-the-blow-off-stage-of-the-bull-market-in-stocks-11623788897?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182315358","content_text":"If you’re an investor, you need to be flexible, neither a bull nor a bear.\nIt takes brains and brawn to be an investor these days. (Photo by Isaac Lawrence/AFP via Getty Images)\nI don’t know when what I call the Blow-Off Top of the Bubble-Blowing Bull Market will end.\nAfter 12 years being long and strong and having diamond hands without even knowing that term existed, maybe I’m wrong to turn more cautious.\nMaybe the economy will reopen and rejuvenate the country in such a strong manner that corporate earnings in 2022 and 2023 will make today’s prices seem like bargains.\nBut I simply don’t think that’s the most likely outcome.\nAnd if I’m right that we’re in the throes of the Blow-Off Top of the Bubble-Blowing Bull Market, I do not want to be overly long and on the wrong side of the great unwind when it does start.\nI’m not calling for a near-term crash. I am saying that it’s likely going to be hard for the bulls to make as much money this year as they did last year.\nTrading and investing are tough. There’s always someone on the other side of every trade you make. Always think about who that is and why they are willing to take the other side of your transaction. When you buy, why are they selling it to you at that price? When you sell, who is buying it from you and what are their motivations? Remember, I’ve talked before about how good analysis starts with empathy.\nIf I’m selling, who’s buying — and why?\nSo let’s answer this question right now. Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always. On the other hand, remember two years ago when I got back from a hedge fund investment conference in Abu Dhabi and everybody was desperate for returns:\nAmid low interest rates and other investors’ focus on options, credit and currencies, “the lack of focus on traditional stocks and funds that invest in publicly traded stocks makes me think that there is probably more opportunity in such assets than people realize. I certainly see some very compelling long ideas in Revolutionary companies like WORK and TWTR and TSLA.”\nSince that post, back a year and a half ago, Slack went from $21 to being bought out at $45, Twitter went from $27 to $61, and Tesla went from $81 to $616. And funds that were looking everywhere but in the stock market for big gains are … well, pretty much in the markets now and long a bunch of stocks and even long a few cryptos.\nAnd now that those stocks and cryptos and most other assets have gone parabolic in the past year — coming on top of the 10-year bull market — the billion-dollar fund managers are joined by 23-year-old TikTok influencers doing bitcoin trading astrology.\nYes, for real, and she’s very popular. She’s even been right about some of bitcoin’s action in the past few months! If you’re selling cryptos and fintech stocks right now, you’re selling to her and her followers. And also to my friend’s son, who just graduated from a tiny, rural school and whose unemployed uncle gave him $500 to “buy some cryptos. And make sure you get some fintech. I don’t know the symbol, but just look it up and you’ll do fine over the long run.” Bearish anecdotes everywhere I look, as I wrote recently.\nMr. Market\nThe other thing to remember about who’s on the other side of your trade is always to remember that there are smart, cutthroat traders and investors who went to the best schools and have access to more research and real-time data and instant trading access to all kinds of derivatives to layer into their bets. And the only thing they do all day, every day, is figure out how to take your money in mostly legal ways. They’re not playing around. They have no sympathy for you, even if they might empathize with you to better understand your motivations to better take your money.\nMr. Market is mean. He’s not nice. He can be cruel. He can force liquidations that create other liquidations. He can shut off access to capital. He can take down 200-year-old banks in a day. In one day.\nSometimes the markets lead the economy and not the other way around. Ironically, when we were young, we were taught that the Great Depression started when the stock market crashed on Black Friday in 1929. But then when we get older, we were taught that it wasn’t actually the crash that created the Great Depression, rather the economy was already crashing and the stock market just didn’t realize it as it continued on its merry way toward a terrible Blow-Off Top of a nine-year Bubble-Blowing Bull Market that culminated with the Dow Jones Industrial Average up 400% from the 1921 lows to the 1929 highs.\n\nLearning from Soros\nBut looking back, it’s clear that both theories are equally right and wrong — the market crashed because the economy wasn’t as good as the market thought it was,andthe economy crashed because the markets shut down access to capital for investment and growth.\nIt was “reflexive,” to borrow a term from the great hedge fund manager George Soros.\nHe wrote, and the concept is important to understand:\n“I continued to consider myself a failed philosopher. All this changed as a result of the financial crisis of 2008. My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck…\n“I can state the core idea in two relatively simple propositions. One is that in situations that have thinking participants, the participants’ view of the world is always partial and distorted. That is the principle of fallibility. The other is that these distorted views can influence the situation to which they relate because false views lead to inappropriate actions. That is the principle of reflexivity…\n“Recognizing reflexivity has been sacrificed to the vain pursuit of certainty in human affairs, most notably in economics, and yet, uncertainty is the key feature of human affairs. Economic theory is built on the concept of equilibrium, and that concept is in direct contradiction with the concept of reflexivity…\n“A positive feedback process is self-reinforcing. It cannot go on forever because eventually the participants’ views would become so far removed from objective reality that the participants would have to recognize them as unrealistic. Nor can the iterative process occur without any change in the actual state of affairs, because it is in the nature of positive feedback that it reinforces whatever tendency prevails in the real world. Instead of equilibrium, we are faced with a dynamic disequilibrium or what may be described as far-from-equilibrium conditions. Usually in far-from-equilibrium situations the divergence between perceptions and reality leads to a climax which sets in motion a positive feedback process in the opposite direction. Such initially self-reinforcing but eventually self-defeating boom-bust processes or bubbles are characteristic of financial markets, but they can also be found in other spheres. There, I call them fertile fallacies—interpretations of reality that are distorted, yet produce results which reinforce the distortion.”\nStay flexible\nFar-from-equilibrium conditions was what we had in 2010-2013 when we loaded up on Revolutionary stocks and started buying cryptos like bitcoin. Far-from-equilibrium conditions might be what we have in front of us right now when I suggest getting cautious instead.\nWe don’t want to be permabulls. (You for sure don’t want to be a permabear!) We have to be flexible. We have to let our analysis and risk/reward scenarios dictate how much risk we’re taking and when. We have to pay attention to the cycles, the self-reinforcing cycles that drive economies and markets and valuations and earnings and societal interactions and bailouts and financial crises and bubbles and busts and, heaven forbid, just simple stagnation.\nIt’s as if everybody forgets that markets can bubble and crash and stagnate. They forget that markets can grind for years on end without making new highs, or without even making higher highs. Do you not remember telling your money manager sometime in 2010-2012 that “If I’d just handled the Great Financial Crisis (and/or the Dot-Com Crash) a little better, I’d be in better shape.” I used to hear people say that to me all the time. I haven’t heard anybody say that lately. Everybody’s having fun in this market … at least for now.\nMost traders will tell you that they are “just trading the market that is in front of them.” Well, I don’t know when the bubble will pop, but I do know that I don’t want to be on the wrong side of this market when it does. And I do know that we won’t know the bubble has really popped until the self-reinforcing reflexive feedback loop has made it painful for the vast majority of people who are right now feeling wealthy, feeling secure, feeling like they’ve got this trading and investing thing all figured out.\nWe are all fallible. Be careful while it’s fun. Be bold when it’s painful. That’s how I’ve done it for the last 25 years. We were boldly buying these assets when it was painful for others. I’m careful right now because everybody else is having fun.\nI spend a lot of time looking for new ideas and I won’t let my overall market outlook deter me from buying a new name or two. But I want to remain overall cautious and less aggressive than I have been for most of the last decade.\nAs a matter of fact, I might have at least a couple Trade Alerts that I’ll be sending out this week, one long and one short idea. Being flexible, see?","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376723716,"gmtCreate":1619150528935,"gmtModify":1704720433105,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Golden words!","listText":"Golden words!","text":"Golden words!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376723716","repostId":"1171301745","repostType":2,"repost":{"id":"1171301745","pubTimestamp":1619107041,"share":"https://ttm.financial/m/news/1171301745?lang=&edition=fundamental","pubTime":"2021-04-22 23:57","market":"us","language":"en","title":"Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’","url":"https://stock-news.laohu8.com/highlight/detail?id=1171301745","media":"MarketWatch","summary":"Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch p","content":"<p>Be skeptical of fads, fashions and trends and operate within your circle of competence</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/db221b5c38828963f24b035309d8303e\" tg-width=\"1260\" tg-height=\"876\"><span>MarketWatch photo illustration/iStockphoto</span></p>\n<p>As the old joke goes, St. Peter had some bad news for an oil&nbsp;prospector&nbsp;who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”</p>\n<p>After a moment, the prospector asked to say just four words to the present occupants.&nbsp;That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!”&nbsp; Immediately, most of the oil prospectors stampeded out for the nether regions.&nbsp;Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them.&nbsp; There might be some truth to that rumor after all.”</p>\n<p>Let that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett’s key rules, ingrained into Berkshire Hathaway for years. We all need to hear such lessons repeatedly because reality’s temptations are always at war with our ideals.</p>\n<p>The serial frenzies in meme stocks like&nbsp;GameStop&nbsp;and cryptocurrencies like dogecoin&nbsp;make this a good time to contrast what investors should do from what many seem to do. Comparing Berkshire’s and crypto’s faithful is apt given their outsized followings: an estimated 30 million Americanshave traded cryptocurrencies and 30 million are expected to stream this year’s Berkshire virtual annual meeting on May 1.</p>\n<p>Buffett defines Berkshire as a corporation with a partnership attitude. The value of each investor’s stake will rise (or fall) in lock step. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. There, the culture is casino-like, where a small few stand to reap unimaginable riches while the overwhelming majority lose their shirts.&nbsp;</p>\n<p>Moreover, Berkshire’s culture emphasizes patience and permanence. The company ideally holds investments and businesses forever and encourages its shareholders to hold indefinitely, through thick and thin. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board. &nbsp;</p>\n<p>Relatedly, the Berkshire ideal accepts that it requires decades to build capital and that accumulating wealth entails skill and time — as well as a bit of luck. In contrast are those who strive to get rich quickly — and effortlessly. Today, some investment market players even seem to believe that everyone should be rich, as a matter of entitlement.</p>\n<p>The ideal Berkshire investor focuses on business, operating strategies, products or services and competitive advantages. For many in the meme-crypto world, what counts is hype and adrenaline, not whether there’s a business plan, let alone operations or customers. The Berkshire model is skeptical of fads, fashions and trends, while dogecoin and other cryptos thrive on these.</p>\n<p>This leads to the Berkshire canon’s cardinal principle: the circle of competence. It prescribes to invest only in what you can understand with a moderate amount of effort. This excludes at least some meme stocks and many currently faddish&nbsp;“blank-check” IPO-mergers. For most people, cryptocurrencies are outside of their circle of competence. Indeed, large numbers of investors nowadays appear to be way out of their circle of competence.</p>\n<p>For investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility. “Mr. Market” is a moody manic, always willing to trade with you at the going price, sometimes elevated, sometimes depressed.</p>\n<p>Following from both the limits of personal competence and the whims of markets, the Berkshire playbook demands a wide margin between the price paid and the value received. In Berkshire’s value-investing lexicon, this is the “margin of safety,” and Buffett has long said that these are the&nbsp;three most important words in investing.</p>\n<p>Finally, besides avoiding rumor-mongering and self-delusion, the Berkshire playbook says to beware the delusions of others. Berkshire’s Vice Chairman, Charlie Munger, tells a story about fishing for muskies at Leech Lake in Minnesota. A visiting angler asked the local guide, “Are any muskies caught in this lake?”</p>\n<p>“More muskies are caught in this lake than in any other lake in Minnesota,” the guide replied.&nbsp; “This lake is famous for muskies.”</p>\n<p>“How long have you been fishing here?”</p>\n<p>“Nineteen years,” the guide said.</p>\n<p>“And how many muskies have you caught?”</p>\n<p>“None.”</p>\n<p>So the next time someone tells you of the untold riches being made in day trading, ask them, “How much cash have you banked?”</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’ </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett could teach traders in dogecoin, GameStop and other hot trends a few things about ‘Mr. Market’ \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-22 23:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch photo illustration/iStockphoto\nAs the old joke goes, St. Peter had some bad news for an oil ...</p>\n\n<a href=\"https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站",".DJI":"道琼斯","GBTC":"Grayscale Bitcoin Trust","AMC":"AMC院线",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/warren-buffett-could-teach-traders-in-dogecoin-gamestop-and-other-hot-trends-a-few-things-about-mr-market-11619079021?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171301745","content_text":"Be skeptical of fads, fashions and trends and operate within your circle of competence\nMarketWatch photo illustration/iStockphoto\nAs the old joke goes, St. Peter had some bad news for an oil prospector who appeared at the pearly gates of heaven: “You’re qualified for admission,” said St. Peter, “but, as you can see, the section for oil prospectors is packed. There’s no way to fit you in.”\nAfter a moment, the prospector asked to say just four words to the present occupants. That seemed harmless to St. Peter, so the prospector yelled, “Oil discovered in hell!”  Immediately, most of the oil prospectors stampeded out for the nether regions. Impressed, St. Peter invited the prospector to move in and get comfortable. The prospector paused, saying “No, I think I’ll go along with the rest of them.  There might be some truth to that rumor after all.”\nLet that be a warning to CEOs and shareholders. Steering clear of rumors and self-delusion has been one of Warren Buffett’s key rules, ingrained into Berkshire Hathaway for years. We all need to hear such lessons repeatedly because reality’s temptations are always at war with our ideals.\nThe serial frenzies in meme stocks like GameStop and cryptocurrencies like dogecoin make this a good time to contrast what investors should do from what many seem to do. Comparing Berkshire’s and crypto’s faithful is apt given their outsized followings: an estimated 30 million Americanshave traded cryptocurrencies and 30 million are expected to stream this year’s Berkshire virtual annual meeting on May 1.\nBuffett defines Berkshire as a corporation with a partnership attitude. The value of each investor’s stake will rise (or fall) in lock step. This contrasts with how many seem to view companies with meme stocks or most of the crypto space. There, the culture is casino-like, where a small few stand to reap unimaginable riches while the overwhelming majority lose their shirts. \nMoreover, Berkshire’s culture emphasizes patience and permanence. The company ideally holds investments and businesses forever and encourages its shareholders to hold indefinitely, through thick and thin. In the world of meme stocks and cryptocurrency trading, a strong norm favors immediate payday profits to be taken off the board.  \nRelatedly, the Berkshire ideal accepts that it requires decades to build capital and that accumulating wealth entails skill and time — as well as a bit of luck. In contrast are those who strive to get rich quickly — and effortlessly. Today, some investment market players even seem to believe that everyone should be rich, as a matter of entitlement.\nThe ideal Berkshire investor focuses on business, operating strategies, products or services and competitive advantages. For many in the meme-crypto world, what counts is hype and adrenaline, not whether there’s a business plan, let alone operations or customers. The Berkshire model is skeptical of fads, fashions and trends, while dogecoin and other cryptos thrive on these.\nThis leads to the Berkshire canon’s cardinal principle: the circle of competence. It prescribes to invest only in what you can understand with a moderate amount of effort. This excludes at least some meme stocks and many currently faddish “blank-check” IPO-mergers. For most people, cryptocurrencies are outside of their circle of competence. Indeed, large numbers of investors nowadays appear to be way out of their circle of competence.\nFor investments within one’s circle of competence, Berkshire adherents appreciate that prices fluctuate widely and no one can predict such volatility. “Mr. Market” is a moody manic, always willing to trade with you at the going price, sometimes elevated, sometimes depressed.\nFollowing from both the limits of personal competence and the whims of markets, the Berkshire playbook demands a wide margin between the price paid and the value received. In Berkshire’s value-investing lexicon, this is the “margin of safety,” and Buffett has long said that these are the three most important words in investing.\nFinally, besides avoiding rumor-mongering and self-delusion, the Berkshire playbook says to beware the delusions of others. Berkshire’s Vice Chairman, Charlie Munger, tells a story about fishing for muskies at Leech Lake in Minnesota. A visiting angler asked the local guide, “Are any muskies caught in this lake?”\n“More muskies are caught in this lake than in any other lake in Minnesota,” the guide replied.  “This lake is famous for muskies.”\n“How long have you been fishing here?”\n“Nineteen years,” the guide said.\n“And how many muskies have you caught?”\n“None.”\nSo the next time someone tells you of the untold riches being made in day trading, ask them, “How much cash have you banked?”","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341832276,"gmtCreate":1617802142195,"gmtModify":1704703308394,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"I am holding my breath&nbsp;for MSFT","listText":"I am holding my breath&nbsp;for MSFT","text":"I am holding my breath for MSFT","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341832276","repostId":"1180267411","repostType":2,"repost":{"id":"1180267411","pubTimestamp":1617779264,"share":"https://ttm.financial/m/news/1180267411?lang=&edition=fundamental","pubTime":"2021-04-07 15:07","market":"us","language":"en","title":"4 Dow Jones Stocks To Buy And Watch In April 2021: Apple Rallies, Microsoft Is Breaking Out","url":"https://stock-news.laohu8.com/highlight/detail?id=1180267411","media":"investors","summary":"TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock ma","content":"<p>TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock market rally continues. The best Dow Jones stocks to buy and watch in April 2021 are<b>Apple</b>(AAPL),<b>Boeing</b>(BA),<b>Disney</b>(DIS) and<b>Microsoft</b>(MSFT).</p><p>key action. We're going to break down for you this week as wellVolume 0%</p><p>There are clear winners — and losers — heading into the fourth month of 2021. The top three performing Dow Jones stocks through March were<b>Walgreens Boots Alliance</b>(WBA),<b>Intel</b>(INTC) and<b>Caterpillar</b>(CAT) with advances of 37.7%, 28.5% and 27.4%, respectively.</p><p>The three biggest Dow Jones losers through March 2021 were<b>Apple</b>(AAPL),<b>Nike</b>(NKE) and<b>Walmart</b>(WMT) with declines of 7.9%, 6.1% and 5.8%, respectively.</p><p>Amid the current stock market rally, the tech-heavy Nasdaq ended March up 2.8%. The S&amp;P 500 was up 5.8%, while the DJIA was up 7.8% through March 31.</p><p>What Is The Dow Jones Industrial Average?</p><p>Founded in 1896 with 12 stocks, theDow Jones Industrial Averageis one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&amp;P 500 index — an index of the 500 largest companies in the United States.</p><p>Best Dow Jones Stocks To Buy And Watch</p><table><thead><tr><th>Company Name</th><th>Symbol</th><th>Closing Price</th><th>2021 YTD Performance</th></tr></thead><tbody><tr><td>Apple</td><td>(AAPL)</td><td>122.15</td><td>-7.9%</td></tr><tr><td>Boeing</td><td>(BA)</td><td>254.72</td><td>+19.0%</td></tr><tr><td>Disney</td><td>(DIS)</td><td>184.52</td><td>+1.8%</td></tr><tr><td>Microsoft</td><td>(MSFT)</td><td>235.77</td><td>+6.0%</td></tr><tr><td>Salesforce.com</td><td>(CRM)</td><td>211.87</td><td>-4.8%</td></tr><tr><td>Visa</td><td>(V)</td><td>211.73</td><td>-3.2%</td></tr></tbody></table><p>Source: IBD Data As Of Feb. 26, 2021</p><p>Amid the current stock market rally — according to theIBD Big Picture— investors should focus on buying top stocks breaking out past correct buy points.</p><p>Focus on stocks that show&nbsp;strong relative strengthduring the recent stock market weakness. They could be some of market's leaders if the indexes are able to continue their rebound.</p><p>Potential Dow Jones stocks to buy and watch in April 2021 that are in or near buy zones include Apple, Boeing, Disney and Microsoft.</p><p>Apple Stock</p><p>Among the top&nbsp;Dow Jones stocks, Apple rose 0.25% Tuesday. Apple stock is below its 10-week line and is about 17% off its 52-week high. A strong rebound back above the 10-week level would be bullish for the stock's prospects.</p><p>On Feb. 18, the stock triggered the 7%-8% loss-cutting sell rule when it fell more than 7% below its 138.89 buy point in a cup with handle.</p><p>According to theIBD Stock Checkup,Apple stock showsa 67 out of a best-possible 99 IBD Composite Rating. TheComposite Rating&nbsp;— an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock's strengths.</p><p>Boeing Stock</p><p>Airplane maker Boeing is back in buy range above a 244.18 buy point in a cup base, according toIBD MarketSmithchart analysis. The 5% buy range goes up to 256.39.</p><p>Shares fell 1.6% Tuesday.</p><p>Disney Stock</p><p>Disney stock is in the buy range past a 183.50buy pointin aflat base, according to&nbsp;IBD MarketSmithchart analysis. The 5% buy area goes up to 192.68.</p><p>Disney stock moved up 0.65% Tuesday.</p><p>Microsoft Stock</p><p>Software giant Microsoft was down 0.5% Tuesday. Shares of the Dow Jones leader are breaking out above a 246.23 buy point in a new flat base.</p><p>Microsoft is anIBD Leaderboardstock. Per Leaderboard commentary, \"Microsoft is now forming a flat base, even as it trades just above an earlier 232.96 buy point. It's still above an early entry of 228.22.\"</p><p><b>Tip:</b>&nbsp;Before making any investment decisions, be sure to check&nbsp;current market conditions, and use&nbsp;IBD Stock Checkup&nbsp;to see if your stock gets passing ratings for the most important fundamental and technical criteria. To get&nbsp;ongoing chart analysis, and alerts to buy and sell signals, check out the unique features, stock lists and chart annotations at&nbsp;MarketSmith,&nbsp;Leaderboard&nbsp;and&nbsp;SwingTrader.</p>","source":"lsy1610449120050","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Dow Jones Stocks To Buy And Watch In April 2021: Apple Rallies, Microsoft Is Breaking Out</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\">\n4 Dow Jones Stocks To Buy And Watch In April 2021: Apple Rallies, Microsoft Is Breaking Out\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 15:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/research/dow-jones-stocks/?src=A00220><strong>investors</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock market rally continues. The best Dow Jones stocks to buy and watch in April 2021 areApple(AAPL),Boeing...</p>\n\n<a href=\"https://www.investors.com/research/dow-jones-stocks/?src=A00220\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRM":"赛富时","BA":"波音","MSFT":"微软","V":"Visa","AAPL":"苹果","DIS":"迪士尼"},"source_url":"https://www.investors.com/research/dow-jones-stocks/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180267411","content_text":"TheDow Jones Industrial Averageremain near record highs at the end of March, as the current stock market rally continues. The best Dow Jones stocks to buy and watch in April 2021 areApple(AAPL),Boeing(BA),Disney(DIS) andMicrosoft(MSFT).key action. We're going to break down for you this week as wellVolume 0%There are clear winners — and losers — heading into the fourth month of 2021. The top three performing Dow Jones stocks through March wereWalgreens Boots Alliance(WBA),Intel(INTC) andCaterpillar(CAT) with advances of 37.7%, 28.5% and 27.4%, respectively.The three biggest Dow Jones losers through March 2021 wereApple(AAPL),Nike(NKE) andWalmart(WMT) with declines of 7.9%, 6.1% and 5.8%, respectively.Amid the current stock market rally, the tech-heavy Nasdaq ended March up 2.8%. The S&P 500 was up 5.8%, while the DJIA was up 7.8% through March 31.What Is The Dow Jones Industrial Average?Founded in 1896 with 12 stocks, theDow Jones Industrial Averageis one of the oldest stock market indexes. There are 30 Dow Jones stocks designed to serve as a bellwether for the general U.S. stock market. Other major stock indexes include the technology-heavy Nasdaq composite and the S&P 500 index — an index of the 500 largest companies in the United States.Best Dow Jones Stocks To Buy And WatchCompany NameSymbolClosing Price2021 YTD PerformanceApple(AAPL)122.15-7.9%Boeing(BA)254.72+19.0%Disney(DIS)184.52+1.8%Microsoft(MSFT)235.77+6.0%Salesforce.com(CRM)211.87-4.8%Visa(V)211.73-3.2%Source: IBD Data As Of Feb. 26, 2021Amid the current stock market rally — according to theIBD Big Picture— investors should focus on buying top stocks breaking out past correct buy points.Focus on stocks that show strong relative strengthduring the recent stock market weakness. They could be some of market's leaders if the indexes are able to continue their rebound.Potential Dow Jones stocks to buy and watch in April 2021 that are in or near buy zones include Apple, Boeing, Disney and Microsoft.Apple StockAmong the top Dow Jones stocks, Apple rose 0.25% Tuesday. Apple stock is below its 10-week line and is about 17% off its 52-week high. A strong rebound back above the 10-week level would be bullish for the stock's prospects.On Feb. 18, the stock triggered the 7%-8% loss-cutting sell rule when it fell more than 7% below its 138.89 buy point in a cup with handle.According to theIBD Stock Checkup,Apple stock showsa 67 out of a best-possible 99 IBD Composite Rating. TheComposite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock's strengths.Boeing StockAirplane maker Boeing is back in buy range above a 244.18 buy point in a cup base, according toIBD MarketSmithchart analysis. The 5% buy range goes up to 256.39.Shares fell 1.6% Tuesday.Disney StockDisney stock is in the buy range past a 183.50buy pointin aflat base, according to IBD MarketSmithchart analysis. The 5% buy area goes up to 192.68.Disney stock moved up 0.65% Tuesday.Microsoft StockSoftware giant Microsoft was down 0.5% Tuesday. Shares of the Dow Jones leader are breaking out above a 246.23 buy point in a new flat base.Microsoft is anIBD Leaderboardstock. Per Leaderboard commentary, \"Microsoft is now forming a flat base, even as it trades just above an earlier 232.96 buy point. It's still above an early entry of 228.22.\"Tip: Before making any investment decisions, be sure to check current market conditions, and use IBD Stock Checkup to see if your stock gets passing ratings for the most important fundamental and technical criteria. To get ongoing chart analysis, and alerts to buy and sell signals, check out the unique features, stock lists and chart annotations at MarketSmith, Leaderboard and SwingTrader.","news_type":1},"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355028116,"gmtCreate":1617016657435,"gmtModify":1704800858986,"author":{"id":"3578571985802325","authorId":"3578571985802325","name":"Deb87","avatar":"https://static.tigerbbs.com/257ee35464940d231ba8af4d8626f78b","crmLevel":2,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578571985802325","idStr":"3578571985802325"},"themes":[],"htmlText":"Nutters","listText":"Nutters","text":"Nutters","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355028116","repostId":"1149839668","repostType":4,"repost":{"id":"1149839668","pubTimestamp":1617002672,"share":"https://ttm.financial/m/news/1149839668?lang=&edition=fundamental","pubTime":"2021-03-29 15:24","market":"us","language":"en","title":"Large block trades tied to Archegos raise worries about trading this week","url":"https://stock-news.laohu8.com/highlight/detail?id=1149839668","media":"Reuters","summary":"(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the s","content":"<p>(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source familiar with the situation said, with the moves raising worries about volatile trading in the coming days.</p><p>Shares in ViacomCBS and Discovery tumbled around 27% each on Friday, while U.S.-listed shares of China-based Baidu and Tencent Music plunged during the week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. Baidu was trading slightly lower in Hong Kong at the open.</p><p>Investors and analysts cited blocks of Viacom and Discovery shares being put in the market on Friday for likely exacerbating the decline in those stocks. Viacom was also downgraded by Wells Fargo on Friday.</p><p>The block trades were linked to sales of holdings by Archegos, a source familiar with the situation said, confirming reports elsewhere. CNBC reportedhereon Saturday that the selling pressure was due to liquidation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. The link with Archegos was also earlier reported by IPO Edgehere.</p><p>A person at Archegos who answered the phone on Saturday declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia from 2001 to 2012, when he renamed it Archegos Capital and made it a family office, according to a page capturehereof the fund's website. Tiger Asia was a Hong Kong-based fundherethat sought to profit on bets on securities in Asia.</p><p>Prior to starting Tiger Asia, Hwang was an equity analyst for Tiger Management according to Archegos' websitehere. Tiger Management, run by Julian Robertson, was a hugely successful hedge fund, which returned investor money and shutherein 2000.</p><p>Hwang in 2012 settledhereinsider trading charges by the U.S. Securities and Exchange Commission according to a press releasehereat the time. He and his firms at the time agreed to pay $44 million to settle, according to the release.</p><p><b>VOLATILITY CONCERNS</b></p><p>Some market participants said last week’s wild moves were likely to make investors increasingly cautious.</p><p>“It’s insane,” said Edward Moya, senior market analyst at OANDA. “When you consider how some of these companies have skyrocketed over the last few months, there will be concerns that we are over-levered.”</p><p>Other market participants said potential unwinds would only have a limited impact on broader markets. The Nasdaq Composite and S&amp;P 500 both surged over 1% on Friday despite the sharp selloffs in Viacom and other stocks.</p><p>“These stories around fund liquidations happen from time to time,” said Michael Antonelli, market strategist at Baird. “Some of the names where big blocks were traded on Friday might see some near-term volatility as traders wonder whether the selling is complete.”</p><p>Mike O’Rourke, chief market strategist at JonesTrading said he expected the trades to “largely be done.”</p><p>“The prime brokers made lots of noise in marketing these blocks,” O’Rourke said. “They knocked the stocks down aggressively in order to get the trades done.”</p><p>O’Rourke added that prime brokers typically go long the remnants of the position, and he expected most of the names involved in the block trades to be “gapping up significantly higher” in premarket trading.</p><p>In more potentially unnerving news for investors, Japan’s Nomura Holdings Inc on Monday flagged a potential $2 billion loss at a U.S. subsidiary although traders were not clear whether it was related to Archegos.</p><p><b>BANKS INVOLVED</b></p><p>A number of banks were involved in the block sales. A source familiar with the matter said on Saturday that Goldman Sachs Group Inc was involved in the large blocktrades. The Financial Times reported that Morgan Stanley sold $4billion worth of shares early on Friday, followed by another$4 billion in the afternoon.</p><p>A source familiar with the matter said Deutsche Bank was involved with the block trades as well. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion worth of stocks in the block trades. An email to clients seen by Bloomberg Newsbloom.bg/3lYOrZmsaid Goldman sold$6.6 billion worth of shares of Baidu Inc , Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloomberg report on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.</p><p>Reporting by Megan Davies, Ira Iosebashvili and Kenneth Li in New York, additional reporting by Juby Babu in Bengaluru; Editing by Paul Simao and Jane Wardell</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>Large block trades tied to Archegos raise worries about trading this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLarge block trades tied to Archegos raise worries about trading this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-29 15:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source ...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9fa7c522340c9f1e78e78f0c1543440e","relate_stocks":{},"source_url":"https://www.reuters.com/article/us-usa-markets-blocktrades/banks-warn-on-losses-after-archegos-capital-stock-unwind-idUSKBN2BK0OR","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149839668","content_text":"(Reuters) - A number of large block trades on Friday, which investors said caused big drops in the stocks of a clutch of companies, were linked to the Archegos Capital investment fund, a source familiar with the situation said, with the moves raising worries about volatile trading in the coming days.Shares in ViacomCBS and Discovery tumbled around 27% each on Friday, while U.S.-listed shares of China-based Baidu and Tencent Music plunged during the week, dropping as much as 33.5% and 48.5%, respectively, from Tuesday’s closing levels. Baidu was trading slightly lower in Hong Kong at the open.Investors and analysts cited blocks of Viacom and Discovery shares being put in the market on Friday for likely exacerbating the decline in those stocks. Viacom was also downgraded by Wells Fargo on Friday.The block trades were linked to sales of holdings by Archegos, a source familiar with the situation said, confirming reports elsewhere. CNBC reportedhereon Saturday that the selling pressure was due to liquidation of positions by family office Archegos Capital Management, citing a source with direct knowledge of the situation. The link with Archegos was also earlier reported by IPO Edgehere.A person at Archegos who answered the phone on Saturday declined to comment. Archegos was founded by Bill Hwang, who founded and ran Tiger Asia from 2001 to 2012, when he renamed it Archegos Capital and made it a family office, according to a page capturehereof the fund's website. Tiger Asia was a Hong Kong-based fundherethat sought to profit on bets on securities in Asia.Prior to starting Tiger Asia, Hwang was an equity analyst for Tiger Management according to Archegos' websitehere. Tiger Management, run by Julian Robertson, was a hugely successful hedge fund, which returned investor money and shutherein 2000.Hwang in 2012 settledhereinsider trading charges by the U.S. Securities and Exchange Commission according to a press releasehereat the time. He and his firms at the time agreed to pay $44 million to settle, according to the release.VOLATILITY CONCERNSSome market participants said last week’s wild moves were likely to make investors increasingly cautious.“It’s insane,” said Edward Moya, senior market analyst at OANDA. “When you consider how some of these companies have skyrocketed over the last few months, there will be concerns that we are over-levered.”Other market participants said potential unwinds would only have a limited impact on broader markets. The Nasdaq Composite and S&P 500 both surged over 1% on Friday despite the sharp selloffs in Viacom and other stocks.“These stories around fund liquidations happen from time to time,” said Michael Antonelli, market strategist at Baird. “Some of the names where big blocks were traded on Friday might see some near-term volatility as traders wonder whether the selling is complete.”Mike O’Rourke, chief market strategist at JonesTrading said he expected the trades to “largely be done.”“The prime brokers made lots of noise in marketing these blocks,” O’Rourke said. “They knocked the stocks down aggressively in order to get the trades done.”O’Rourke added that prime brokers typically go long the remnants of the position, and he expected most of the names involved in the block trades to be “gapping up significantly higher” in premarket trading.In more potentially unnerving news for investors, Japan’s Nomura Holdings Inc on Monday flagged a potential $2 billion loss at a U.S. subsidiary although traders were not clear whether it was related to Archegos.BANKS INVOLVEDA number of banks were involved in the block sales. A source familiar with the matter said on Saturday that Goldman Sachs Group Inc was involved in the large blocktrades. The Financial Times reported that Morgan Stanley sold $4billion worth of shares early on Friday, followed by another$4 billion in the afternoon.A source familiar with the matter said Deutsche Bank was involved with the block trades as well. Bloomberg and the Financial Times on Saturday reported thatGoldman liquidated more than $10 billion worth of stocks in the block trades. An email to clients seen by Bloomberg Newsbloom.bg/3lYOrZmsaid Goldman sold$6.6 billion worth of shares of Baidu Inc , Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the Bloomberg report on Saturday said. Following this, Goldman sold $3.9 billion worth of shares inViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.Reporting by Megan Davies, Ira Iosebashvili and Kenneth Li in New York, additional reporting by Juby Babu in Bengaluru; Editing by Paul Simao and Jane Wardell","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}