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joannec

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2021-08-12

Wow!

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2021-08-12

Let's go !

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2021-08-04

2023 ! Wow

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2021-07-27

Good read !

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2021-07-27

All the way !

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2021-07-23

All the way !

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2021-07-09

Waiting strategy

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2021-07-09

Good

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2021-07-02

Thanks

5 Warren Buffett Favorites To Keep An Eye On

2021-06-25

?

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2021-06-25

Ok

Panasonic sold its entire stake in Tesla last fiscal year - Nikkei

2021-06-25

Good read

Job hole or inflation? Fed policymakers split over risk view

2021-06-25

Wonderful

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2021-06-24

Like

The ‘shelter in suburbia’ trade is about to reverse — and these stocks will suffer

2021-06-24

Wow !

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2021-06-20

Let's keep watching...

Dow drops 400 points at the open, extending losses in its worst week since January

2021-06-20

Good read !

Answering the great inflation question of our time

2021-06-20

Good opportunity

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2021-06-20

Cool

Wall Street Crime And Punishment: The Rise And Fall Of Crazy Eddie

2021-06-18

Yeah.

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!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803028283","repostId":"1154449552","repostType":4,"isVote":1,"tweetType":1,"viewCount":2161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175987743,"gmtCreate":1627002821882,"gmtModify":1703482184457,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"All the way !","listText":"All the way !","text":"All the way !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175987743","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":1735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143144874,"gmtCreate":1625785360498,"gmtModify":1703748339905,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Waiting strategy","listText":"Waiting strategy","text":"Waiting strategy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143144874","repostId":"1145034030","repostType":4,"isVote":1,"tweetType":1,"viewCount":1742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143142846,"gmtCreate":1625785223085,"gmtModify":1703748337802,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143142846","repostId":"1162204971","repostType":4,"isVote":1,"tweetType":1,"viewCount":1943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156783331,"gmtCreate":1625236810023,"gmtModify":1703739180828,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156783331","repostId":"1196057674","repostType":4,"repost":{"id":"1196057674","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1625229715,"share":"https://ttm.financial/m/news/1196057674?lang=&edition=fundamental","pubTime":"2021-07-02 20:41","market":"us","language":"en","title":"5 Warren Buffett Favorites To Keep An Eye On","url":"https://stock-news.laohu8.com/highlight/detail?id=1196057674","media":"Benzinga","summary":"Legendary investor Warren Buffett has posted an impressive 21% year-to-date return for his flagship Berkshire Hathaway Inc  in the first half of 2021.Here's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.Aonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan","content":"<p>Legendary investor&nbsp;<b>Warren Buffett</b>&nbsp;has posted an impressive 21% year-to-date return for his flagship&nbsp;<b>Berkshire Hathaway Inc</b>(NYSE:BRKA) (NYSE:BRKB)&nbsp;in the first half of 2021.</p>\n<p>Here's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.</p>\n<p><b>1. Aon:</b>Earlier this year, Berkshire Hathaway took an&nbsp;initial position&nbsp;in insurance broker&nbsp;<b>Aon plc</b>(NYSE:AON). Shares of the company are up 15% year-to-date, could see more upside and could also be a position Buffett adds to.</p>\n<p>Aonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan for COVID-19 vaccines that could be a highlight in the next earnings report.</p>\n<p><b>2. Apple:</b>There have been several rallies for technology stocks in the first half of 2021. Despite the rallies, shares of technology giant&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL) traded flat in the first half of 2021.</p>\n<p>Apple makes up the largest stock holding in the Berkshire Hathaway portfolio. The iPhone maker&nbsp;continues to be an innovator and should not be overlooked for more product launches and announcements in the second half of the year that could move shares of the stock higher.</p>\n<p><b>3. Bank of America:</b>&nbsp;<b>Bank of America Corporation</b>(NYSE:BAC) is a large holding of Buffett's and one of several bank stocks that he has kept. Buffett has significantly lowered the company’s weighting in&nbsp;<b>Wells Fargo Co</b>(NYSE:WFC), a stock it once owned 10% of and started investing in dating back to 1989.</p>\n<p>Bank of America could be Buffett's favored banking stock and it comes as the company reported record consumer investment assets and record client balances in thefirst quarter.</p>\n<p>Revenue for the first quarter of $22.8 billion was flat year-over-year but several areas saw strong demand and growth. The company announced it's raising its quarterly dividend from 18 cents to 21 cents in late June and could continue to raise dividends after passing a new bank stress test.</p>\n<p><b>4. Coca-Cola:</b>One of Buffett's favorites&nbsp;is<b>&nbsp;Coca-Cola Co</b>&nbsp;(NYSE:KO). Shares of the beverage giant are down 1% in the first half of 2021 as many consumer food and beverage companies have seen positive returns. The company could be due to make a bigacquisitionlike that of&nbsp;<b>Monster Beverage Corporation</b>(NASDAQ:MNST) orpushing furtherinto alcoholic beverages.</p>\n<p><b>5. Verizon:</b>Shares of&nbsp;<b>Verizon Communications</b>(NYSE:VZ) are down around 4% in the first half of 2021. The companyreportedtotal revenue of $32.9 billion in the first quarter, up 4% year-over-year. Several of the company’s core business segments saw single-digit growth.</p>\n<p>A shift to 5G nationwide could help a company like Verizon, which along with a near 5% dividend yield could make the communications giant a stock to watch in the second half of 2021.</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>5 Warren Buffett Favorites To Keep An Eye On</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 Warren Buffett Favorites To Keep An Eye On\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\">2021-07-02 20:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Legendary investor&nbsp;<b>Warren Buffett</b>&nbsp;has posted an impressive 21% year-to-date return for his flagship&nbsp;<b>Berkshire Hathaway Inc</b>(NYSE:BRKA) (NYSE:BRKB)&nbsp;in the first half of 2021.</p>\n<p>Here's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.</p>\n<p><b>1. Aon:</b>Earlier this year, Berkshire Hathaway took an&nbsp;initial position&nbsp;in insurance broker&nbsp;<b>Aon plc</b>(NYSE:AON). Shares of the company are up 15% year-to-date, could see more upside and could also be a position Buffett adds to.</p>\n<p>Aonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan for COVID-19 vaccines that could be a highlight in the next earnings report.</p>\n<p><b>2. Apple:</b>There have been several rallies for technology stocks in the first half of 2021. Despite the rallies, shares of technology giant&nbsp;<b>Apple Inc</b>(NASDAQ:AAPL) traded flat in the first half of 2021.</p>\n<p>Apple makes up the largest stock holding in the Berkshire Hathaway portfolio. The iPhone maker&nbsp;continues to be an innovator and should not be overlooked for more product launches and announcements in the second half of the year that could move shares of the stock higher.</p>\n<p><b>3. Bank of America:</b>&nbsp;<b>Bank of America Corporation</b>(NYSE:BAC) is a large holding of Buffett's and one of several bank stocks that he has kept. Buffett has significantly lowered the company’s weighting in&nbsp;<b>Wells Fargo Co</b>(NYSE:WFC), a stock it once owned 10% of and started investing in dating back to 1989.</p>\n<p>Bank of America could be Buffett's favored banking stock and it comes as the company reported record consumer investment assets and record client balances in thefirst quarter.</p>\n<p>Revenue for the first quarter of $22.8 billion was flat year-over-year but several areas saw strong demand and growth. The company announced it's raising its quarterly dividend from 18 cents to 21 cents in late June and could continue to raise dividends after passing a new bank stress test.</p>\n<p><b>4. Coca-Cola:</b>One of Buffett's favorites&nbsp;is<b>&nbsp;Coca-Cola Co</b>&nbsp;(NYSE:KO). Shares of the beverage giant are down 1% in the first half of 2021 as many consumer food and beverage companies have seen positive returns. The company could be due to make a bigacquisitionlike that of&nbsp;<b>Monster Beverage Corporation</b>(NASDAQ:MNST) orpushing furtherinto alcoholic beverages.</p>\n<p><b>5. Verizon:</b>Shares of&nbsp;<b>Verizon Communications</b>(NYSE:VZ) are down around 4% in the first half of 2021. The companyreportedtotal revenue of $32.9 billion in the first quarter, up 4% year-over-year. Several of the company’s core business segments saw single-digit growth.</p>\n<p>A shift to 5G nationwide could help a company like Verizon, which along with a near 5% dividend yield could make the communications giant a stock to watch in the second half of 2021.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","BRK.B":"伯克希尔B","BAC":"美国银行","KO":"可口可乐","AON":"怡安保险","BRK.A":"伯克希尔","MNST":"怪物饮料","WFC":"富国银行"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196057674","content_text":"Legendary investor Warren Buffett has posted an impressive 21% year-to-date return for his flagship Berkshire Hathaway Inc(NYSE:BRKA) (NYSE:BRKB) in the first half of 2021.\nHere's a look at five stocks owned by Buffett and Berkshire Hathaway that could see strong gains in the second half of 2021.\n1. Aon:Earlier this year, Berkshire Hathaway took an initial position in insurance broker Aon plc(NYSE:AON). Shares of the company are up 15% year-to-date, could see more upside and could also be a position Buffett adds to.\nAonreportedfirst-quarter revenue up 10% year-over-year, including organic revenue growth of 6%. The company’s margins improved and earnings per share grew 22% year-over-year. Aon announced a supply chain global protection plan for COVID-19 vaccines that could be a highlight in the next earnings report.\n2. Apple:There have been several rallies for technology stocks in the first half of 2021. Despite the rallies, shares of technology giant Apple Inc(NASDAQ:AAPL) traded flat in the first half of 2021.\nApple makes up the largest stock holding in the Berkshire Hathaway portfolio. The iPhone maker continues to be an innovator and should not be overlooked for more product launches and announcements in the second half of the year that could move shares of the stock higher.\n3. Bank of America: Bank of America Corporation(NYSE:BAC) is a large holding of Buffett's and one of several bank stocks that he has kept. Buffett has significantly lowered the company’s weighting in Wells Fargo Co(NYSE:WFC), a stock it once owned 10% of and started investing in dating back to 1989.\nBank of America could be Buffett's favored banking stock and it comes as the company reported record consumer investment assets and record client balances in thefirst quarter.\nRevenue for the first quarter of $22.8 billion was flat year-over-year but several areas saw strong demand and growth. The company announced it's raising its quarterly dividend from 18 cents to 21 cents in late June and could continue to raise dividends after passing a new bank stress test.\n4. Coca-Cola:One of Buffett's favorites is Coca-Cola Co (NYSE:KO). Shares of the beverage giant are down 1% in the first half of 2021 as many consumer food and beverage companies have seen positive returns. The company could be due to make a bigacquisitionlike that of Monster Beverage Corporation(NASDAQ:MNST) orpushing furtherinto alcoholic beverages.\n5. Verizon:Shares of Verizon Communications(NYSE:VZ) are down around 4% in the first half of 2021. The companyreportedtotal revenue of $32.9 billion in the first quarter, up 4% year-over-year. Several of the company’s core business segments saw single-digit growth.\nA shift to 5G nationwide could help a company like Verizon, which along with a near 5% dividend yield could make the communications giant a stock to watch in the second half of 2021.","news_type":1,"symbols_score_info":{"WFC":0.9,"BAC":0.9,"BRK.A":0.9,"BRK.B":0.9,"KO":0.9,"AON":0.9,"MNST":0.9,"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1223,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126568791,"gmtCreate":1624579125513,"gmtModify":1703840685914,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126568791","repostId":"2146023787","repostType":2,"isVote":1,"tweetType":1,"viewCount":1721,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126584993,"gmtCreate":1624578902012,"gmtModify":1703840676848,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126584993","repostId":"2146002655","repostType":4,"repost":{"id":"2146002655","kind":"highlight","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":1624576043,"share":"https://ttm.financial/m/news/2146002655?lang=&edition=fundamental","pubTime":"2021-06-25 07:07","market":"us","language":"en","title":"Panasonic sold its entire stake in Tesla last fiscal year - Nikkei","url":"https://stock-news.laohu8.com/highlight/detail?id=2146002655","media":"Reuters","summary":"TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal yea","content":"<p>TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.</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>Panasonic sold its entire stake in Tesla last fiscal year - Nikkei</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPanasonic sold its entire stake in Tesla last fiscal year - Nikkei\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\">2021-06-25 07:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PCRFY":"松下"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146002655","content_text":"TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.","news_type":1,"symbols_score_info":{"PCRFY":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126580882,"gmtCreate":1624578692546,"gmtModify":1703840666585,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126580882","repostId":"2146023953","repostType":4,"repost":{"id":"2146023953","kind":"highlight","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":1624577436,"share":"https://ttm.financial/m/news/2146023953?lang=&edition=fundamental","pubTime":"2021-06-25 07:30","market":"us","language":"en","title":"Job hole or inflation? Fed policymakers split over risk view","url":"https://stock-news.laohu8.com/highlight/detail?id=2146023953","media":"Reuters","summary":"June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to sta","content":"<p>June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to start reducing the central bank's support for the economy, they are split over what poses the bigger risk: a still-large jobs deficit or a potential inflation shock.</p>\n<p>Robert Kaplan and James Bullard, chiefs respectively of the Dallas and St. Louis Fed banks, on Thursday both warned that inflation could stay higher for longer than many of their colleagues may anticipate.</p>\n<p>\"Policymakers will have to take this new risk into account in the months and quarters ahead,\" Bullard told the Clayton Chamber of Commerce near St. Louis.</p>\n<p>Kaplan, speaking to the Headliners Club of Austin, said he sees \"upside risk\" to his projection for 2.4% or 2.5% inflation next year, already at the top of the range of Fed forecasts. He added that the Fed should start trimming its asset purchases \"sooner than later\" to gently begin the process of reducing stimulus and avoid having to slam on the brakes sharply later on. Continuing asset purchases longer than necessary could also fuel excesses and imbalances in financial markets, Kaplan said.</p>\n<p>Both believe the Fed will need to start raising interest rates from current rock-bottom levels next year.</p>\n<p>Meanwhile, New York Fed President John Williams and Philadelphia Fed President Patrick Harker, speaking at separate events, emphasized how much farther the labor market has to go before it heals.</p>\n<p>\"Once the recovery is more complete and the economy is in a very good place, then we can take back the low interest rates and get them back to more normal levels,\" Williams said during a virtual conversation hosted by the College of Staten Island. \"It's not the time now because the economy is still far from maximum employment.\"</p>\n<p>Harker, speaking at a virtual event held by the Official Monetary and <a href=\"https://laohu8.com/S/FISI\">Financial Institutions</a> Forum, said the economy is now down around 10.6 million jobs compared with what there would have been had jobs growth maintained its pre-pandemic trajectory.</p>\n<p>Neither Harker or Williams said when they believe the Fed will need to start raising rates, though a majority at the central bank do believe they'll need to start increasing rates in 2023.</p>\n<p>Since the pandemic began last year, the Fed has faced little tension between its two mandates of full employment and stable prices. Near-zero interest rates and $120 billion in monthly asset purchases were calibrated to do double duty, pushing up on hiring and what had been too-low inflation by driving down borrowing costs.</p>\n<p>But now, with the economy reopening at a fast clip and businesses struggling to meet demand, consumer prices rose 5% last month, the fastest since 2008.</p>\n<p>Fed Chair Jerome Powell has argued that the rise will prove temporary, with inflation cooling as reopening schools and receding infection fears bring more Americans back to the workforce and businesses ramp up production to cure supply bottlenecks.</p>\n<p>But some policymakers have their doubts. Dallas Fed's Kaplan points to 2.5 million or more Americans over 55 who have retired since the pandemic began, and on Thursday said it's unclear how many will return to the workforce.</p>\n<p>That, along with the 1.5 million workers who have left jobs to care for family members, means that despite the giant jobs hole the labor market may be tighter than the 5.8% unemployment rate suggests, he said.</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>Job hole or inflation? Fed policymakers split over risk view</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\">\nJob hole or inflation? Fed policymakers split over risk view\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\">2021-06-25 07:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to start reducing the central bank's support for the economy, they are split over what poses the bigger risk: a still-large jobs deficit or a potential inflation shock.</p>\n<p>Robert Kaplan and James Bullard, chiefs respectively of the Dallas and St. Louis Fed banks, on Thursday both warned that inflation could stay higher for longer than many of their colleagues may anticipate.</p>\n<p>\"Policymakers will have to take this new risk into account in the months and quarters ahead,\" Bullard told the Clayton Chamber of Commerce near St. Louis.</p>\n<p>Kaplan, speaking to the Headliners Club of Austin, said he sees \"upside risk\" to his projection for 2.4% or 2.5% inflation next year, already at the top of the range of Fed forecasts. He added that the Fed should start trimming its asset purchases \"sooner than later\" to gently begin the process of reducing stimulus and avoid having to slam on the brakes sharply later on. Continuing asset purchases longer than necessary could also fuel excesses and imbalances in financial markets, Kaplan said.</p>\n<p>Both believe the Fed will need to start raising interest rates from current rock-bottom levels next year.</p>\n<p>Meanwhile, New York Fed President John Williams and Philadelphia Fed President Patrick Harker, speaking at separate events, emphasized how much farther the labor market has to go before it heals.</p>\n<p>\"Once the recovery is more complete and the economy is in a very good place, then we can take back the low interest rates and get them back to more normal levels,\" Williams said during a virtual conversation hosted by the College of Staten Island. \"It's not the time now because the economy is still far from maximum employment.\"</p>\n<p>Harker, speaking at a virtual event held by the Official Monetary and <a href=\"https://laohu8.com/S/FISI\">Financial Institutions</a> Forum, said the economy is now down around 10.6 million jobs compared with what there would have been had jobs growth maintained its pre-pandemic trajectory.</p>\n<p>Neither Harker or Williams said when they believe the Fed will need to start raising rates, though a majority at the central bank do believe they'll need to start increasing rates in 2023.</p>\n<p>Since the pandemic began last year, the Fed has faced little tension between its two mandates of full employment and stable prices. Near-zero interest rates and $120 billion in monthly asset purchases were calibrated to do double duty, pushing up on hiring and what had been too-low inflation by driving down borrowing costs.</p>\n<p>But now, with the economy reopening at a fast clip and businesses struggling to meet demand, consumer prices rose 5% last month, the fastest since 2008.</p>\n<p>Fed Chair Jerome Powell has argued that the rise will prove temporary, with inflation cooling as reopening schools and receding infection fears bring more Americans back to the workforce and businesses ramp up production to cure supply bottlenecks.</p>\n<p>But some policymakers have their doubts. Dallas Fed's Kaplan points to 2.5 million or more Americans over 55 who have retired since the pandemic began, and on Thursday said it's unclear how many will return to the workforce.</p>\n<p>That, along with the 1.5 million workers who have left jobs to care for family members, means that despite the giant jobs hole the labor market may be tighter than the 5.8% unemployment rate suggests, he said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146023953","content_text":"June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to start reducing the central bank's support for the economy, they are split over what poses the bigger risk: a still-large jobs deficit or a potential inflation shock.\nRobert Kaplan and James Bullard, chiefs respectively of the Dallas and St. Louis Fed banks, on Thursday both warned that inflation could stay higher for longer than many of their colleagues may anticipate.\n\"Policymakers will have to take this new risk into account in the months and quarters ahead,\" Bullard told the Clayton Chamber of Commerce near St. Louis.\nKaplan, speaking to the Headliners Club of Austin, said he sees \"upside risk\" to his projection for 2.4% or 2.5% inflation next year, already at the top of the range of Fed forecasts. He added that the Fed should start trimming its asset purchases \"sooner than later\" to gently begin the process of reducing stimulus and avoid having to slam on the brakes sharply later on. Continuing asset purchases longer than necessary could also fuel excesses and imbalances in financial markets, Kaplan said.\nBoth believe the Fed will need to start raising interest rates from current rock-bottom levels next year.\nMeanwhile, New York Fed President John Williams and Philadelphia Fed President Patrick Harker, speaking at separate events, emphasized how much farther the labor market has to go before it heals.\n\"Once the recovery is more complete and the economy is in a very good place, then we can take back the low interest rates and get them back to more normal levels,\" Williams said during a virtual conversation hosted by the College of Staten Island. \"It's not the time now because the economy is still far from maximum employment.\"\nHarker, speaking at a virtual event held by the Official Monetary and Financial Institutions Forum, said the economy is now down around 10.6 million jobs compared with what there would have been had jobs growth maintained its pre-pandemic trajectory.\nNeither Harker or Williams said when they believe the Fed will need to start raising rates, though a majority at the central bank do believe they'll need to start increasing rates in 2023.\nSince the pandemic began last year, the Fed has faced little tension between its two mandates of full employment and stable prices. Near-zero interest rates and $120 billion in monthly asset purchases were calibrated to do double duty, pushing up on hiring and what had been too-low inflation by driving down borrowing costs.\nBut now, with the economy reopening at a fast clip and businesses struggling to meet demand, consumer prices rose 5% last month, the fastest since 2008.\nFed Chair Jerome Powell has argued that the rise will prove temporary, with inflation cooling as reopening schools and receding infection fears bring more Americans back to the workforce and businesses ramp up production to cure supply bottlenecks.\nBut some policymakers have their doubts. Dallas Fed's Kaplan points to 2.5 million or more Americans over 55 who have retired since the pandemic began, and on Thursday said it's unclear how many will return to the workforce.\nThat, along with the 1.5 million workers who have left jobs to care for family members, means that despite the giant jobs hole the labor market may be tighter than the 5.8% unemployment rate suggests, he said.","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126594767,"gmtCreate":1624578159359,"gmtModify":1703840634831,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Wonderful&nbsp;","listText":"Wonderful&nbsp;","text":"Wonderful","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126594767","repostId":"1161267930","repostType":4,"isVote":1,"tweetType":1,"viewCount":1014,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126100368,"gmtCreate":1624546310954,"gmtModify":1703840046798,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/126100368","repostId":"1187819280","repostType":4,"repost":{"id":"1187819280","kind":"news","pubTimestamp":1624529642,"share":"https://ttm.financial/m/news/1187819280?lang=&edition=fundamental","pubTime":"2021-06-24 18:14","market":"us","language":"en","title":"The ‘shelter in suburbia’ trade is about to reverse — and these stocks will suffer","url":"https://stock-news.laohu8.com/highlight/detail?id=1187819280","media":"MarketWatch","summary":"5 reasons the pandemic megatrend is over.\n\nOne of the biggest investment stories of the COVID-19 pan","content":"<blockquote>\n <b>5 reasons the pandemic megatrend is over.</b>\n</blockquote>\n<p>One of the biggest investment stories of the COVID-19 pandemic has been the boom in consumer discretionary stocks with a “shelter in suburbia” theme. From e-commerce platforms to home improvement stores to furniture and housewares merchants, many of the top performers have fit this flavor.</p>\n<p>Take the broad-based Vanguard Consumer Discretionary Index Fund ETF VCR, +0.66% that surged more than 90% from March 2020 to March 2021. That was thanks to components like home improvement stocks Lowe’s LOW, -0.30% and Home Depot HD, -0.33% alongside retailers like TJX TJX, -0.08%.</p>\n<p>Lately, however, performance has started to lag for many of these names. In fact, since April 1 we’ve seen these three stocks all drift slightly into the red even as the S&amp;P 500 SPX, -0.11% has tacked on about 6% in the same period.</p>\n<p>And some fear that may only be the beginning. As one Wall Street insider said recently in a Bloomberg interview, a “huge unwind” is coming for stay-at-home stocks, including hardware stores and home-goods merchants.</p>\n<p>While some big-name “suburbia” trades are still relatively stable, signs of trouble are already emerging at the fringes. Century Communities CCS, -0.34% and Dream Finders Homes DFH, -2.55%, two mid-tier single family homebuilders, have seen shares crash by double digits over the last month. On the furnishings side, appliance giant Whirlpool Corporation WHR, -0.51% and department store Nordstrom JWN, +2.03% are down sharply from their spring highs.</p>\n<p><b>Here are five big reasons why:</b></p>\n<p><b>1.</b>&nbsp;<b>The upgrade cycle is over</b></p>\n<p>Last summer, white-collar workers who were stuck at home made note of overdue projects and took advantage of being able to easily meet with contractors. But in many ways, this growth is not sustainable.</p>\n<p>Consider the kind of purchases homeowners were making according to data from the NPD Group. Faucets, kitchen cabinets and even toilets were among the most popular products sold in 2020. Needless to say, even the most profligate homeowners aren’t going to follow this upgrade cycle of remodeling kitchens and bathrooms on an annual basis.</p>\n<p>The same is true for furniture and other home goods. Internet giant Comscore recorded the highest visitation to related websites in history in May 2020 with 133 million web surfers shopping for some kind of home goods. Once again, a new couch or lamp is not an annual purchase — so this trend seems unsustainable for much longer.</p>\n<p><b>2.&nbsp;Valuations are stretched</b></p>\n<p>Speaking of post-pandemic peaks for home-goods purveyors, we’ve seen the financials bear out these big increases via boosted profits and sales. However, we’ve also seen the stock of many related merchants surge even more — stretching their valuations from historical norms.</p>\n<p>Take TJX. Currently this discount retailer has a forward price-to-earnings ratio of more than 26, compared with a forward P/E of just 21 in spring 2020. Its trailing price-to-sales ratio is now 2.1 compared with 1.4.</p>\n<p>What’s more, valuations for previous darlings like TJX are out of line with peers, too. Consider the forward P/E of the overall S&amp;P 500 index is 22 right now, and other similar names like Macy’s M, +0.70% and Big Lots BIG, -3.71% actually have forward P/E ratios well under 10. You can argue TJX is unique, of course… but you also may want to be aware of what “fair value” looks like for many other stocks outside fashionable stay-at-home trades right now.</p>\n<p><b>3.&nbsp;Delays and shortages</b></p>\n<p>Future growth from pandemic-fueled peaks in these stocks is not impossible, of course. But given supply chain disruptions it seems highly unlikely. There are a host of reasons for these delays, including overseas shipping delays as well as capacity and output crunches that are affecting many industries, but “stay at home” stocks seem particularly hard hit.</p>\n<p>Home improvement products are simply nowhere to be found, with roughly 94% of builders reporting “at least some serious shortages of appliances” according to the National Association of Home Builders. Another 93% are running short on framing lumber and 87% say it is hard to obtain windows and doors.</p>\n<p>Even if you can get past demand concerns, without the raw materials to get to work it’s very hard to see future growth in this category.</p>\n<p><b>4.&nbsp;Inflationary pressures</b></p>\n<p>For the people who haven’t already ponied up the cash for a contractor or made their peace with extended delays for their expensive new furniture, there is a pretty big disincentive right now for new shoppers: inflation.</p>\n<p>The cost of living as measured by the Consumer Price Index jumped 0.6% in May to run at a 5% annual rate. That was not only higher than expectations, but the fastest pace since the summer of 2008. The inflation risks were so pronounced that the Federal Reserve publicly stated it could move up the schedule for expected interest rate increases to keep the risks under wraps.</p>\n<p>Inflation isn’t always a death knell, of course. But it has historically eroded purchasing power and could curtail some of the spending in “stay at home” stocks that we’ve seen in the last year or so.</p>\n<p><b>5.&nbsp;Home-equity hubris</b></p>\n<p>Speaking of red-hot inflation: In May, the median price for U.S. homes topped $350,000 for the first time ever — up 23.6% from 2020. What’s more, a Realtor.com survey showed roughly a third of selling homeowners expect to get more than their asking price, and roughly the same amount expect an offer within a week of listing.</p>\n<p>Some of this is justifiable. Many articles have been written in recent years about the dearth of supply in attractive markets, and it’s important to acknowledge the remote work of the pandemic has indeed created some disruptive introspection into why people live where they do.</p>\n<p>But here’s where things get dicey: homeowners who have already spent the expected premium on their home’s price well in advance. According to Freddie Mac, about $152.7 billion in equity loans were taken out on U.S. houses last year, a massive increase of 41.7% from 2019 and the highest refinancing cash-out dollar amount since 2007.</p>\n<p>Anyone remember what happened to the real-estate market in 2007? Or the similar sense of seller entitlement from those days? There’s no clear signs of a bubble bursting just yet, but there’s real risk American homeowners may be overly optimistic about what their homes are worth — and a chance this home equity loan free-for-all simply isn’t sustainable for much longer.</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>The ‘shelter in suburbia’ trade is about to reverse — and these stocks will suffer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe ‘shelter in suburbia’ trade is about to reverse — and these stocks will suffer\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/the-shelter-in-suburbia-trade-is-about-to-reverse-and-these-stocks-will-suffer-11624457411?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>5 reasons the pandemic megatrend is over.\n\nOne of the biggest investment stories of the COVID-19 pandemic has been the boom in consumer discretionary stocks with a “shelter in suburbia” theme. From e-...</p>\n\n<a href=\"https://www.marketwatch.com/story/the-shelter-in-suburbia-trade-is-about-to-reverse-and-these-stocks-will-suffer-11624457411?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/the-shelter-in-suburbia-trade-is-about-to-reverse-and-these-stocks-will-suffer-11624457411?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187819280","content_text":"5 reasons the pandemic megatrend is over.\n\nOne of the biggest investment stories of the COVID-19 pandemic has been the boom in consumer discretionary stocks with a “shelter in suburbia” theme. From e-commerce platforms to home improvement stores to furniture and housewares merchants, many of the top performers have fit this flavor.\nTake the broad-based Vanguard Consumer Discretionary Index Fund ETF VCR, +0.66% that surged more than 90% from March 2020 to March 2021. That was thanks to components like home improvement stocks Lowe’s LOW, -0.30% and Home Depot HD, -0.33% alongside retailers like TJX TJX, -0.08%.\nLately, however, performance has started to lag for many of these names. In fact, since April 1 we’ve seen these three stocks all drift slightly into the red even as the S&P 500 SPX, -0.11% has tacked on about 6% in the same period.\nAnd some fear that may only be the beginning. As one Wall Street insider said recently in a Bloomberg interview, a “huge unwind” is coming for stay-at-home stocks, including hardware stores and home-goods merchants.\nWhile some big-name “suburbia” trades are still relatively stable, signs of trouble are already emerging at the fringes. Century Communities CCS, -0.34% and Dream Finders Homes DFH, -2.55%, two mid-tier single family homebuilders, have seen shares crash by double digits over the last month. On the furnishings side, appliance giant Whirlpool Corporation WHR, -0.51% and department store Nordstrom JWN, +2.03% are down sharply from their spring highs.\nHere are five big reasons why:\n1. The upgrade cycle is over\nLast summer, white-collar workers who were stuck at home made note of overdue projects and took advantage of being able to easily meet with contractors. But in many ways, this growth is not sustainable.\nConsider the kind of purchases homeowners were making according to data from the NPD Group. Faucets, kitchen cabinets and even toilets were among the most popular products sold in 2020. Needless to say, even the most profligate homeowners aren’t going to follow this upgrade cycle of remodeling kitchens and bathrooms on an annual basis.\nThe same is true for furniture and other home goods. Internet giant Comscore recorded the highest visitation to related websites in history in May 2020 with 133 million web surfers shopping for some kind of home goods. Once again, a new couch or lamp is not an annual purchase — so this trend seems unsustainable for much longer.\n2. Valuations are stretched\nSpeaking of post-pandemic peaks for home-goods purveyors, we’ve seen the financials bear out these big increases via boosted profits and sales. However, we’ve also seen the stock of many related merchants surge even more — stretching their valuations from historical norms.\nTake TJX. Currently this discount retailer has a forward price-to-earnings ratio of more than 26, compared with a forward P/E of just 21 in spring 2020. Its trailing price-to-sales ratio is now 2.1 compared with 1.4.\nWhat’s more, valuations for previous darlings like TJX are out of line with peers, too. Consider the forward P/E of the overall S&P 500 index is 22 right now, and other similar names like Macy’s M, +0.70% and Big Lots BIG, -3.71% actually have forward P/E ratios well under 10. You can argue TJX is unique, of course… but you also may want to be aware of what “fair value” looks like for many other stocks outside fashionable stay-at-home trades right now.\n3. Delays and shortages\nFuture growth from pandemic-fueled peaks in these stocks is not impossible, of course. But given supply chain disruptions it seems highly unlikely. There are a host of reasons for these delays, including overseas shipping delays as well as capacity and output crunches that are affecting many industries, but “stay at home” stocks seem particularly hard hit.\nHome improvement products are simply nowhere to be found, with roughly 94% of builders reporting “at least some serious shortages of appliances” according to the National Association of Home Builders. Another 93% are running short on framing lumber and 87% say it is hard to obtain windows and doors.\nEven if you can get past demand concerns, without the raw materials to get to work it’s very hard to see future growth in this category.\n4. Inflationary pressures\nFor the people who haven’t already ponied up the cash for a contractor or made their peace with extended delays for their expensive new furniture, there is a pretty big disincentive right now for new shoppers: inflation.\nThe cost of living as measured by the Consumer Price Index jumped 0.6% in May to run at a 5% annual rate. That was not only higher than expectations, but the fastest pace since the summer of 2008. The inflation risks were so pronounced that the Federal Reserve publicly stated it could move up the schedule for expected interest rate increases to keep the risks under wraps.\nInflation isn’t always a death knell, of course. But it has historically eroded purchasing power and could curtail some of the spending in “stay at home” stocks that we’ve seen in the last year or so.\n5. Home-equity hubris\nSpeaking of red-hot inflation: In May, the median price for U.S. homes topped $350,000 for the first time ever — up 23.6% from 2020. What’s more, a Realtor.com survey showed roughly a third of selling homeowners expect to get more than their asking price, and roughly the same amount expect an offer within a week of listing.\nSome of this is justifiable. Many articles have been written in recent years about the dearth of supply in attractive markets, and it’s important to acknowledge the remote work of the pandemic has indeed created some disruptive introspection into why people live where they do.\nBut here’s where things get dicey: homeowners who have already spent the expected premium on their home’s price well in advance. According to Freddie Mac, about $152.7 billion in equity loans were taken out on U.S. houses last year, a massive increase of 41.7% from 2019 and the highest refinancing cash-out dollar amount since 2007.\nAnyone remember what happened to the real-estate market in 2007? Or the similar sense of seller entitlement from those days? There’s no clear signs of a bubble bursting just yet, but there’s real risk American homeowners may be overly optimistic about what their homes are worth — and a chance this home equity loan free-for-all simply isn’t sustainable for much longer.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126374296,"gmtCreate":1624546271615,"gmtModify":1703840044342,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Wow !","listText":"Wow !","text":"Wow !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126374296","repostId":"1162964404","repostType":4,"isVote":1,"tweetType":1,"viewCount":551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164200616,"gmtCreate":1624204699735,"gmtModify":1703830617121,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Let's keep watching...&nbsp;","listText":"Let's keep watching...&nbsp;","text":"Let's keep watching...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164200616","repostId":"1118271544","repostType":4,"repost":{"id":"1118271544","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624023029,"share":"https://ttm.financial/m/news/1118271544?lang=&edition=fundamental","pubTime":"2021-06-18 21:30","market":"us","language":"en","title":"Dow drops 400 points at the open, extending losses in its worst week since January","url":"https://stock-news.laohu8.com/highlight/detail?id=1118271544","media":"Tiger Newspress","summary":"U.S. stocks fell on Friday with the Dow Jones Industrial Average on pace to post its worst week sinc","content":"<p>U.S. stocks fell on Friday with the Dow Jones Industrial Average on pace to post its worst week since January, as bank shares led the market sell-off after the Federal Reserve's latest policy update.</p>\n<p>The blue-chip average dropped 400 points, bringing its week-to-date losses to 2.8% The S&amp;P 500 fell 0.8%, pushing its loss this week to more than 1%. The tech-heavy Nasdaq Composite dipped 0.5%.</p>\n<p>Stocks extended their losses asSt. Louis Fed President Jim Bullard said on CNBCthat it was natural for the Fed to tilt a little \"hawkish\" this week and that the first rate increase from the central bank would likely come in 2022.</p>\n<p>Wall Street registered losses as the Federal Reserve on Wednesday afternoon added two rate hikes to its 2023 forecast and increased its inflation projection for the year.</p>\n<p>The decline in stocks came as the Fed's actions caused a drastic flattening of the so-called Treasury yield curve&nbsp;where the yields of shorter-duration Treasurys, like the&nbsp;2-year note, rose, while longer duration yields, such as the benchmark 10-year, fell.&nbsp;The retreat in long-dated bonds reflects less optimism toward economic growth, while the jump in short-end yields shows the expectations of the Fed raising rates.</p>\n<p>This phenomenon is hurting bank stocks particularly as bank earnings could take a hit when the spread between short-term and long-term rates narrows. Goldman Sachs shares fell more than 1% Friday, while JPMorgan and Morgan Stanley also traded in the red.</p>\n<p>Fed Chairman Jerome Powell said on Wednesday that officials have discussed tapering bond buying and would at some point begin slowing the asset purchases.</p>\n<p>\"Investors may be interpreting the Fed's hawkish tilt Wednesday as a sign that an extended US post-pandemic economic expansion may be a bit harder to achieve in a potentially emerging environment of less accommodative monetary policy,\" said Goldman Sachs' Chris Hussey in a note.</p>\n<p>Most commodities prices rebounded a bit on Friday followingsharp declines this week&nbsp;as China attempts to cool rising prices and the U.S. dollar strengthens. Futures prices for copper, gold, and platinum rebounded Friday, but were still down big for the week.</p>\n<p>Chip stocks, which have had a good week, looked set to continue their run on Friday with shares of Nvidia higher by about 1%.</p>\n<p>Adobe shares gained about 3% after earnings and revenue topped estimates.</p>\n<p>Friday also coincides with the quarterly \"quadruple witching\" where options and futures on indexes and equities expire. Many expect trading to be more volatile in light of this event.</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>Dow drops 400 points at the open, extending losses in its worst week since January</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\">\nDow drops 400 points at the open, extending losses in its worst week since January\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-18 21:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stocks fell on Friday with the Dow Jones Industrial Average on pace to post its worst week since January, as bank shares led the market sell-off after the Federal Reserve's latest policy update.</p>\n<p>The blue-chip average dropped 400 points, bringing its week-to-date losses to 2.8% The S&amp;P 500 fell 0.8%, pushing its loss this week to more than 1%. The tech-heavy Nasdaq Composite dipped 0.5%.</p>\n<p>Stocks extended their losses asSt. Louis Fed President Jim Bullard said on CNBCthat it was natural for the Fed to tilt a little \"hawkish\" this week and that the first rate increase from the central bank would likely come in 2022.</p>\n<p>Wall Street registered losses as the Federal Reserve on Wednesday afternoon added two rate hikes to its 2023 forecast and increased its inflation projection for the year.</p>\n<p>The decline in stocks came as the Fed's actions caused a drastic flattening of the so-called Treasury yield curve&nbsp;where the yields of shorter-duration Treasurys, like the&nbsp;2-year note, rose, while longer duration yields, such as the benchmark 10-year, fell.&nbsp;The retreat in long-dated bonds reflects less optimism toward economic growth, while the jump in short-end yields shows the expectations of the Fed raising rates.</p>\n<p>This phenomenon is hurting bank stocks particularly as bank earnings could take a hit when the spread between short-term and long-term rates narrows. Goldman Sachs shares fell more than 1% Friday, while JPMorgan and Morgan Stanley also traded in the red.</p>\n<p>Fed Chairman Jerome Powell said on Wednesday that officials have discussed tapering bond buying and would at some point begin slowing the asset purchases.</p>\n<p>\"Investors may be interpreting the Fed's hawkish tilt Wednesday as a sign that an extended US post-pandemic economic expansion may be a bit harder to achieve in a potentially emerging environment of less accommodative monetary policy,\" said Goldman Sachs' Chris Hussey in a note.</p>\n<p>Most commodities prices rebounded a bit on Friday followingsharp declines this week&nbsp;as China attempts to cool rising prices and the U.S. dollar strengthens. Futures prices for copper, gold, and platinum rebounded Friday, but were still down big for the week.</p>\n<p>Chip stocks, which have had a good week, looked set to continue their run on Friday with shares of Nvidia higher by about 1%.</p>\n<p>Adobe shares gained about 3% after earnings and revenue topped estimates.</p>\n<p>Friday also coincides with the quarterly \"quadruple witching\" where options and futures on indexes and equities expire. Many expect trading to be more volatile in light of this event.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118271544","content_text":"U.S. stocks fell on Friday with the Dow Jones Industrial Average on pace to post its worst week since January, as bank shares led the market sell-off after the Federal Reserve's latest policy update.\nThe blue-chip average dropped 400 points, bringing its week-to-date losses to 2.8% The S&P 500 fell 0.8%, pushing its loss this week to more than 1%. The tech-heavy Nasdaq Composite dipped 0.5%.\nStocks extended their losses asSt. Louis Fed President Jim Bullard said on CNBCthat it was natural for the Fed to tilt a little \"hawkish\" this week and that the first rate increase from the central bank would likely come in 2022.\nWall Street registered losses as the Federal Reserve on Wednesday afternoon added two rate hikes to its 2023 forecast and increased its inflation projection for the year.\nThe decline in stocks came as the Fed's actions caused a drastic flattening of the so-called Treasury yield curve where the yields of shorter-duration Treasurys, like the 2-year note, rose, while longer duration yields, such as the benchmark 10-year, fell. The retreat in long-dated bonds reflects less optimism toward economic growth, while the jump in short-end yields shows the expectations of the Fed raising rates.\nThis phenomenon is hurting bank stocks particularly as bank earnings could take a hit when the spread between short-term and long-term rates narrows. Goldman Sachs shares fell more than 1% Friday, while JPMorgan and Morgan Stanley also traded in the red.\nFed Chairman Jerome Powell said on Wednesday that officials have discussed tapering bond buying and would at some point begin slowing the asset purchases.\n\"Investors may be interpreting the Fed's hawkish tilt Wednesday as a sign that an extended US post-pandemic economic expansion may be a bit harder to achieve in a potentially emerging environment of less accommodative monetary policy,\" said Goldman Sachs' Chris Hussey in a note.\nMost commodities prices rebounded a bit on Friday followingsharp declines this week as China attempts to cool rising prices and the U.S. dollar strengthens. Futures prices for copper, gold, and platinum rebounded Friday, but were still down big for the week.\nChip stocks, which have had a good week, looked set to continue their run on Friday with shares of Nvidia higher by about 1%.\nAdobe shares gained about 3% after earnings and revenue topped estimates.\nFriday also coincides with the quarterly \"quadruple witching\" where options and futures on indexes and equities expire. Many expect trading to be more volatile in light of this event.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":687,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164671858,"gmtCreate":1624204239274,"gmtModify":1703830606599,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Good read !&nbsp;","listText":"Good read !&nbsp;","text":"Good read !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164671858","repostId":"1133385197","repostType":4,"repost":{"id":"1133385197","kind":"news","pubTimestamp":1624151969,"share":"https://ttm.financial/m/news/1133385197?lang=&edition=fundamental","pubTime":"2021-06-20 09:19","market":"us","language":"en","title":"Answering the great inflation question of our time","url":"https://stock-news.laohu8.com/highlight/detail?id=1133385197","media":"finance.yahoo","summary":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up","content":"<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.</p>\n<p>Unfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”</p>\n<p>The current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?</p>\n<p>Before I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.</p>\n<p>As an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.</p>\n<p>Until now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)</p>\n<p><img src=\"https://static.tigerbbs.com/87f75dfcb98fb5a0e7c3f9d3f8d336e2\" tg-width=\"705\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p>\n<p>Used car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.</p>\n<p>To be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)</p>\n<p>But that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&amp;P 500 down 1.91% this week, its worst week since February.</p>\n<p>Given this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.</p>\n<p>Now I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.</p>\n<p>As for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.</p>\n<p>Which brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.</p>\n<p>“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”</p>\n<p>“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.</p>\n<p>COVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.</p>\n<p>A prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.</p>\n<p>Another secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.</p>\n<p><b>Anti-inflation forces</b></p>\n<p>But here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?</p>\n<p>I say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”</p>\n<p>To buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.</p>\n<p>To me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.</p>\n<p>Not only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.</p>\n<p>So technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.</p>\n<p>There is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.</p>\n<p>After World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)</p>\n<p>Like its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.</p>\n<p>The internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.</p>\n<p>So technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.</p>\n<p>COVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.</p>\n<p>How significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.</p>\n<p>More downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”</p>\n<p>And so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”</p>\n<p>I don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)</p>","source":"lsy1612507957220","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>Answering the great inflation question of our 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\">\nAnswering the great inflation question of our time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-20 09:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html><strong>finance.yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these...</p>\n\n<a href=\"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133385197","content_text":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”\nThe current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?\nBefore I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.\nAs an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.\nUntil now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)\n\nUsed car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.\nTo be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)\nBut that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&P 500 down 1.91% this week, its worst week since February.\nGiven this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.\nNow I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.\nAs for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.\nWhich brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.\n“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”\n“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.\nCOVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.\nA prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.\nAnother secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.\nAnti-inflation forces\nBut here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?\nI say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”\nTo buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.\nTo me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.\nNot only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.\nSo technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.\nThere is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.\nAfter World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)\nLike its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.\nThe internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.\nSo technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.\nCOVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.\nHow significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.\nMore downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”\nAnd so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”\nI don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":768,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164671087,"gmtCreate":1624204217949,"gmtModify":1703830605790,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Good opportunity&nbsp;","listText":"Good opportunity&nbsp;","text":"Good opportunity","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164671087","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164673158,"gmtCreate":1624204196274,"gmtModify":1703830605146,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164673158","repostId":"1161408410","repostType":4,"repost":{"id":"1161408410","kind":"news","pubTimestamp":1624065771,"share":"https://ttm.financial/m/news/1161408410?lang=&edition=fundamental","pubTime":"2021-06-19 09:22","market":"us","language":"en","title":"Wall Street Crime And Punishment: The Rise And Fall Of Crazy Eddie","url":"https://stock-news.laohu8.com/highlight/detail?id=1161408410","media":"benzinga","summary":"Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers,","content":"<div>\n<p>Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers, brokers and financial ne’er-do-wells whose ambition and greed take them in the wrong direction.\nIf ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie\">Web Link</a>\n\n</div>\n","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: The Rise And Fall Of Crazy Eddie</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Crime And Punishment: The Rise And Fall Of Crazy Eddie\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-19 09:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers, brokers and financial ne’er-do-wells whose ambition and greed take them in the wrong direction.\nIf ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161408410","content_text":"Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers, brokers and financial ne’er-do-wells whose ambition and greed take them in the wrong direction.\nIf you were living in the New York metropolitan area during the 1970s and 1980s, you probably remember the commercials for the Crazy Eddie electronics retail chain. They were impossible to miss: More than 7,500 spots featuring a frenetic, motor-mouthed spokesperson bombilating frenetically about the “in-saaaaaaaaane” discounts offered by the store.\nCrazy Eddie was never the biggest retail operation in the region. At its peak, there were only 43 locations spread across four states.\nBut the ubiquity of the commercials made it seem more prominent than it actually was, and the excess attention eventually brought harsh spotlights on the financial chicanery perpetrated by its chief executive,Eddie Antar.\nAn Audacious Start:Eddie Antar was born in Brooklyn, New York, on Dec. 18, 1947, the grandson of Syrian Jewish immigrants. Antar was an intelligent youth but found school boring, dropping out at 16 to work odd jobs before setting up a small stand at New York’s Port Authority in the heart of Manhattan where he sold portable televisions. While Antar belatedly realized he had the wrong product line in the wrong location, he used the experience to sharpen his sales skills.\nBy 1969, Antar saved up enough money to go into business with his father Sam and cousin named Ronnie Gindi, creating a retail operation called ERS Electronics. They opened an electronics store in the Kings Highway business shopping district in Brooklyn called Sights and Sounds.\nAt the time, small and independently-owned electronics retailers operated at a significant disadvantage against major chains due to the fair trade laws of the era that enabled manufacturers to establish a single standard retail price all retailers needed to list. To stand out from the competition, Antar challenged the laws by marking down his merchandise, thus offering a discount absent elsewhere in this retail sector.\nSome manufacturers got wise to this and refused to do business with Antar, but he circumvented their boycott by purchasing excess stock from other businesses and obtaining products through grey-market channels from overseas sources.\nThe stress was great and Gindi eventually lost interest in the enterprise, selling his one-third of the business to Antar.\nBut how could the store remain afloat financially through its seemingly reckless discounting? As Antar’s father Sam would later recall in an interview, the lo-fi nature of old-school retailing work enabled them to put their ethics on hold.\n“Back then, most customers paid in cash,” he said. “If we don’t disclose the sale, we keep the sales tax. That’s a good cushion to be able to afford to beat the competition.”\nSights and Sounds began to attract bargain hunters from outside of Brooklyn and Antar turned into something of a one-man, in-store comedy show, going so far as taking the shoes of cash-strapped customers who wanted to buy stereos for deposits and jokingly preventing shoppers from leaving unless they made a purchase.\nAntar’s shtick was so amusing that his first wife Deborah came home one evening in 1971 with a story about how one of her co-workers was talking about his shopping trip to Sights and Sounds.\nThe co-worker, who was unaware of Deborah’s connection to the store, talked happily about dealing with a salesperson that he dubbed “Crazy Eddie.” At that point, Antar decided to change the name of Sights and Sounds to Crazy Eddie.\nAn Advertising Assault:The fair trade law that initially stifled Antar and other smaller businesses was repealed in 1972. Antar’s aggressive discounting and colorful personality enabled him to prepare for a business expansion — he moved to a larger store on Kings Highway, then opened a location in the Long Island town of Syosset in 1973 and in the heart of Manhattan in 1975.\nAntar recognized how his larger competitors used advertising to their advantage, and in 1972 he began marketing his business over the airwaves via WPIX-FM, a popular music station that mixed rock oldies with current Top 40 hits. Antar created an ad copy script that would be read live on the air by Jerry Carroll, one of the station’s disk jockeys. But Carroll decided to improvise, reading the copy in a mock-frenzied manner and creating a new closing line with “Crazy Eddie — his prices are in-saaaaaaaaane.”\nRather than be upset by the deviation to the script, Antar was ecstatic with Carroll’s flippant approach as his delivery stood out wildly from the other advertising running on the station. Antar contracted Carroll to be his on-air pitchman for radio, and in 1975 Carroll was brought in front of the cameras for a television campaign.\nIt was through the television commercials Crazy Eddie became the center of consumer attention. For the next 10 years, the commercials offered endless variations on the same set-up: Carroll wore the same outfit — a dark blazer and a turtleneck sweater — and stood surrounded by displays of the electronics being peddled.\nEach commercial ran about 30 seconds, but Carroll spoke so rapidly that it seemed he was trying to cover 60 seconds of a script in half of his allotted time.\nCarroll’s physical delivery was comically spastic, with flailing arms, bulging eyes and the most manic smile this side of the Joker.\nHe would inevitably challenge shoppers to “shop around, get the best prices you can find, then bring ’em to Crazy Eddie and he’ll beat ’em.” And each commercial ended with Carroll stretching his arms out while proclaiming, “Crazy Eddie — his prices are in-saaaaaaaaane.”\nThere would be a few variations to the presentation, including a Christmas season ad campaign and a “Christmas in August” summertime effort with Carroll dressed in a Santa suit while being pelted with Styrofoam snowballs and papery snowflakes.\nA couple of movie spoof spots put Carroll in parodies of “Casablanca,” “Saturday Night Fever,” “Superman” and “10,” and one ad had a man in a gorilla suit grunting dialogue while subtitles offered simian-to-English translations.\nNot So Funny:After the commercials came on in full force, Crazy Eddie generated $350 million in annual revenue during its prime years.\nBut as Crazy Eddie grew, Antar’s approach to business became more problematic: cash payments were not recorded, the sales tax was pocketed and employees received off-the-books pay rather than paychecks that clearly deducted federal and state taxes.\nAntar helped finance his cousin Sam Antar’s college education and brought him on as a chief financial officer, but Sam would later recall this was not done out of love of family.\n“The whole purpose of the business was to commit premeditated fraud,” Sam recounted in an interview with MentalFloss.com. “My family put me through college to help them commit more sophisticated fraud in the future. I was trained to be a criminal.\n\"People have a certain idea of Crazy Eddie — in reality, it was a dark criminal enterprise.”\nAntar initially kept his ill-gotten gains hidden within his home, but later began sending the money far into the world. Offshore bank accounts in Canada, Gibraltar, Israel, Liberia, Luxembourg, Panama and Switzerland were set up, and by the early 1980s, Antar and his family were skimming upwards of $4 million annually in unreported income and unpaid taxes.\nEventually, the graft became too big to easily hide. The solution, Antar theorized, was not to hide but to be in the greatest spotlight imaginable: Antar decided to take Crazy Eddie public.\nHello, Wall Street:Crazy Eddie conducted its initial public offering on Sept. 13, 1984, taking the NASDAQ symbol CRZY. The popularity of the television commercials helped bring in the initial wave of investor interest, while gourmet-level cooked books gave the phony impression of a well-run retail operation.\nTwo years after first trading at $8 a share, Crazy Eddie stock was at a split-adjusted $75 per share.\nWhy Antar believed he could continue with his shenanigans amid the added scrutiny given to public companies is a mystery, but by 1987 he found himself in lethal shoals.\nThe increased retail competition saw Crazy Eddie’s sales decline, resulting in a tumbling stock price.\nAntar announced his resignation in December 1986, but four months later he shocked shareholders by revealing he never stepped down — and while still at the helm, he sold off his shares in the company, gaining about $30 million in the transaction.\nThe company had begun planning to go private when an outside investor group successfully agitated to take over what they believed to be a struggling but respectable company. But when their auditors came in, they were flabbergasted to find grossly exaggerated inventories of up to $28 million, $20 million in phony debit memos to vendors and sales reports that were closer to fiction than accountancy.\nThe chain went bankrupt in 1989 and was forced to shut down its retail network. Federal and state investigations overwhelmed what remained of the Crazy Eddie and Antar was hit with an endless flurry of lawsuits.\n\"By any measure, this is a staggering securities fraud,\" saidMichael Chertoff, the U.S. Attorney for New Jersey, who accused the Antars of creating \"a giant bubble\" rather than a successful business.\nBy 1990, Antar disappeared after failing to appear at a court hearing. He obtained a phony U.S. passport issued to “Harry Page Shalom” and left the country. After a two-year global search, he was located in 1992 in a Tel Aviv suburb living under the name Alexander Stewart.\nAntar was brought back to the U.S. to find his cousin Sam Antar had taken a plea deal with federal prosecutors and agreed to testify against him in court.\n“There’s no better motivator than a 20-year prison term,” Sam Antar stated. “I didn’t cooperate because I found God. I cooperated to save my ass.”\nIn July 2013, Antar was found guilty of 17 counts of fraud and sentenced to 12½ years in prison. Two years later, his verdicts were overturned on appeal.\nRather than face the stress of another trial, Antar pleaded guilty to federal fraud charges in May 1996 and was sentenced in 1997 to eight years in prison.\nThe Legend Lives On:Antar was released after four years in prison and federal law enforcement officials managed to find more than $120 million from his offshore bank accounts, which was repaid to investors.\nSeveral attempts occurred over the subsequent years to revive the Crazy Eddie brand, first as a brick-and-mortar retailer and then as an e-commerce venture, but all of these efforts failed.\nIn June 2019,Jon Turteltaub, the director of the “National Treasure” film franchise, announced plans to make a biopic about Antar. But that project has yet to come to life.\nMany of the Crazy Eddie commercials can be found on YouTube, and marketing experts consider them to be among the most imaginative and successful examples of television advertising.\nAntar stayed out of the public light after leaving prison and died of complications from liver cancer on Sept. 10, 2016. He never publicly spoke about his past, although in a brief late-life exchange with a Newark Star-Ledger reporter he acknowledged the unique impact he had on retailing.\n“Everybody knows Crazy Eddie,” he said. “What can I tell you? I changed the business. I changed the whole business.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":987,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166722718,"gmtCreate":1624025868734,"gmtModify":1703826966210,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3578952819778047","idStr":"3578952819778047"},"themes":[],"htmlText":"Yeah.","listText":"Yeah.","text":"Yeah.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166722718","repostId":"2144775875","repostType":4,"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":187100037,"gmtCreate":1623744876129,"gmtModify":1704210168452,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Comment and like please. Thanks&nbsp;","listText":"Comment and like please. Thanks&nbsp;","text":"Comment and like please. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/187100037","repostId":"1175897310","repostType":4,"repost":{"id":"1175897310","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1623725513,"share":"https://ttm.financial/m/news/1175897310?lang=&edition=fundamental","pubTime":"2021-06-15 10:51","market":"us","language":"en","title":"IPO Preview: WalkMe, Atai Life Sciences Highlight Week Of Many Offerings","url":"https://stock-news.laohu8.com/highlight/detail?id=1175897310","media":"Benzinga","summary":"This week’s IPO lineup could feature a double digit number of companies hitting the public. Here is ","content":"<p>This week’s IPO lineup could feature a double digit number of companies hitting the public. Here is a look at some of the largest and most high profile companies going public this week.</p>\n<p><b>AMTD Digital:</b>Asian digital solutions platform&nbsp;<b>AMTD Digital</b>(NYSE:HKD)&nbsp;offers&nbsp;risk solutions and digital insurance technology for partners. The company had revenue of $21.6 million in fiscal 2020 and $18.8 million through the first nine months of the current fiscal year. The company plans to sell 16 million ADSs at a price point of $6.80 to $8.20.</p>\n<p><b>Molecular Partners:</b>Clinical stage biotechnology company&nbsp;<b>Molecular Partners</b>(NASDAQ:MOLN) isfocusedon using its pioneering DARPin product in categories including infectious diseases, oncology and ophthalmology. The company partnered with&nbsp;<b>Novartis</b>(NYSE:NVS) in 2020,<b>Amgen Inc</b>(NASDAQ:AMGN) in 2018 and&nbsp;<b>AbbVie Inc</b>(NYSE:ABBV) in 2011. Novartis owns 6% of the company. Molecular Partners plans to sell 3 million ADS.</p>\n<p><b>WalkMe:</b>With a mission to change the way humans interact with technology,<b>WalkMe</b>(NASDAQ:WKME)offerssolutions for organizations. The company has many well-known companies as customers including Nestle and Veolia, two large European companies listed as case studies in the filing.</p>\n<p>WalkMe had revenue of $148 million in 2020 and revenue of $42.7 million in the first quarter of 2021. The company’s revenue was up 34% year-over-year in the last twelve months. The company has 368 customers that represent $100,000 or more in annual revenue and 22 customers that represent $1 million or more in annual revenue. WalkMe plans on selling 9.25 million shares at a price point of $29 to $32.</p>\n<p><b>Convey Holding:</b>Health care company&nbsp;<b>Convey Holding</b>(NYSE:CNVY)partnerswith eight of the 10 largest Medicare Advantage companies in the U.S. The company had 2.5 million Medicare Advantage and 1.6 million Prescription Drug Plan members in 2020. Revenue in 2020 for the company was $282.9 million. First-quarter 2021 revenue was $82.6 million for the company. Convey Holding plans to sell 13.3 million shares at a price point of $14 to $16.</p>\n<p><b>Angel Oak Mortgage:</b>Real estate finance company&nbsp;<b>Angel Oak Mortgage</b>(NYSE: AOMR)&nbsp;acquiresand invests in first&nbsp;lien non-QM Loans and other mortgage assets in the U.S. The company had assets of $534.9 million at the end of the first quarter of 2021. The company has elected to be taxed as a REIT. Angel Oak Mortgage is seeking to sell 8.1 million shares at a price point of $20 to $21.</p>\n<p><b>Lyell Immunopharma:</b>Seeking to disrupt the T-cell reprogramming market,<b>Lyell ImmunoPharma</b>(NASDAQ:LYEL)intendsto have four INDs submitted by the end of 2022. The company partnered with<b>GlaxoSmithKline</b>(NYSE:GSK) in 2019 in a deal good for up to $400 million in additional milestones after a $45-million upfront payment.</p>\n<p>GlaxoSmithKline owns 14% of Lyell and&nbsp;<b>Bristol-MyersSquibb</b>(NYSE:BMY) owned Celgene owns 5% of the company. Lyell is planning to sell 25 million shares at a price point of $16 to $18.</p>\n<p><b>Verve Therapeutics:</b>Genetic medicine company<b>Verve Therapeutics</b>(NASDAQ: VERV) isfocusedon cardiovascular disease. The company plans to sell 11.8 million shares at a price point of $16 to $18.</p>\n<p><b>Atai Life Sciences:</b>Backedby&nbsp;<b>Palantir Technologies</b>(NYSE:PLTR) and&nbsp;<b>Paypal Holdings</b>(NASDAQ:PYPL) founder Peter Thiel,<b>Atai Life Sciences</b>(NASDAQ:ATAI) could be one of the high profile IPOs of the week.</p>\n<p>The company isdevelopingtreatment options for mental health disorders. The company has 10 programs in its pipeline and six enabling technologies. The company is planning on selling 14.3 million shares at a price point of $13 to $15.</p>\n<p><b>AiHui Shou International:</b>Pre-owned consumer electronics reseller&nbsp;<b>AiHuiShou International</b>(NYSE: RERE)seeksto give a second life to all idle goods.</p>\n<p>The company’s three business lines — AHS Recycle, PJUT Marketplace and PaiPai Marketplace — help the company as the market leader in China with a market share of 6.6%. The company had revenue of $741.5 million in 2020 and $231.1 million in the first quarter of 2021, up 119% year-over-year.<b>JD.com</b>(NASDAQ:JD) will own 32.3% of the company after the IPO. The company plans on selling 16.2 million ADSs at a price point of $13 to $15.</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>IPO Preview: WalkMe, Atai Life Sciences Highlight Week Of Many Offerings</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\">\nIPO Preview: WalkMe, Atai Life Sciences Highlight Week Of Many Offerings\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\">2021-06-15 10:51</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>This week’s IPO lineup could feature a double digit number of companies hitting the public. Here is a look at some of the largest and most high profile companies going public this week.</p>\n<p><b>AMTD Digital:</b>Asian digital solutions platform&nbsp;<b>AMTD Digital</b>(NYSE:HKD)&nbsp;offers&nbsp;risk solutions and digital insurance technology for partners. The company had revenue of $21.6 million in fiscal 2020 and $18.8 million through the first nine months of the current fiscal year. The company plans to sell 16 million ADSs at a price point of $6.80 to $8.20.</p>\n<p><b>Molecular Partners:</b>Clinical stage biotechnology company&nbsp;<b>Molecular Partners</b>(NASDAQ:MOLN) isfocusedon using its pioneering DARPin product in categories including infectious diseases, oncology and ophthalmology. The company partnered with&nbsp;<b>Novartis</b>(NYSE:NVS) in 2020,<b>Amgen Inc</b>(NASDAQ:AMGN) in 2018 and&nbsp;<b>AbbVie Inc</b>(NYSE:ABBV) in 2011. Novartis owns 6% of the company. Molecular Partners plans to sell 3 million ADS.</p>\n<p><b>WalkMe:</b>With a mission to change the way humans interact with technology,<b>WalkMe</b>(NASDAQ:WKME)offerssolutions for organizations. The company has many well-known companies as customers including Nestle and Veolia, two large European companies listed as case studies in the filing.</p>\n<p>WalkMe had revenue of $148 million in 2020 and revenue of $42.7 million in the first quarter of 2021. The company’s revenue was up 34% year-over-year in the last twelve months. The company has 368 customers that represent $100,000 or more in annual revenue and 22 customers that represent $1 million or more in annual revenue. WalkMe plans on selling 9.25 million shares at a price point of $29 to $32.</p>\n<p><b>Convey Holding:</b>Health care company&nbsp;<b>Convey Holding</b>(NYSE:CNVY)partnerswith eight of the 10 largest Medicare Advantage companies in the U.S. The company had 2.5 million Medicare Advantage and 1.6 million Prescription Drug Plan members in 2020. Revenue in 2020 for the company was $282.9 million. First-quarter 2021 revenue was $82.6 million for the company. Convey Holding plans to sell 13.3 million shares at a price point of $14 to $16.</p>\n<p><b>Angel Oak Mortgage:</b>Real estate finance company&nbsp;<b>Angel Oak Mortgage</b>(NYSE: AOMR)&nbsp;acquiresand invests in first&nbsp;lien non-QM Loans and other mortgage assets in the U.S. The company had assets of $534.9 million at the end of the first quarter of 2021. The company has elected to be taxed as a REIT. Angel Oak Mortgage is seeking to sell 8.1 million shares at a price point of $20 to $21.</p>\n<p><b>Lyell Immunopharma:</b>Seeking to disrupt the T-cell reprogramming market,<b>Lyell ImmunoPharma</b>(NASDAQ:LYEL)intendsto have four INDs submitted by the end of 2022. The company partnered with<b>GlaxoSmithKline</b>(NYSE:GSK) in 2019 in a deal good for up to $400 million in additional milestones after a $45-million upfront payment.</p>\n<p>GlaxoSmithKline owns 14% of Lyell and&nbsp;<b>Bristol-MyersSquibb</b>(NYSE:BMY) owned Celgene owns 5% of the company. Lyell is planning to sell 25 million shares at a price point of $16 to $18.</p>\n<p><b>Verve Therapeutics:</b>Genetic medicine company<b>Verve Therapeutics</b>(NASDAQ: VERV) isfocusedon cardiovascular disease. The company plans to sell 11.8 million shares at a price point of $16 to $18.</p>\n<p><b>Atai Life Sciences:</b>Backedby&nbsp;<b>Palantir Technologies</b>(NYSE:PLTR) and&nbsp;<b>Paypal Holdings</b>(NASDAQ:PYPL) founder Peter Thiel,<b>Atai Life Sciences</b>(NASDAQ:ATAI) could be one of the high profile IPOs of the week.</p>\n<p>The company isdevelopingtreatment options for mental health disorders. The company has 10 programs in its pipeline and six enabling technologies. The company is planning on selling 14.3 million shares at a price point of $13 to $15.</p>\n<p><b>AiHui Shou International:</b>Pre-owned consumer electronics reseller&nbsp;<b>AiHuiShou International</b>(NYSE: RERE)seeksto give a second life to all idle goods.</p>\n<p>The company’s three business lines — AHS Recycle, PJUT Marketplace and PaiPai Marketplace — help the company as the market leader in China with a market share of 6.6%. The company had revenue of $741.5 million in 2020 and $231.1 million in the first quarter of 2021, up 119% year-over-year.<b>JD.com</b>(NASDAQ:JD) will own 32.3% of the company after the IPO. The company plans on selling 16.2 million ADSs at a price point of $13 to $15.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LYEL":"Lyell Immunopharma, Inc.","AOMR":"ANGEL OAK MORTGAGE REIT INC","MOLN":"Molecular Partners AG","WKME":"WalkMe Ltd.","RERE":"爱回收","ATAI":"Atai Beckley Inc","NVS":"诺华","HKD":"尚乘数科"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175897310","content_text":"This week’s IPO lineup could feature a double digit number of companies hitting the public. Here is a look at some of the largest and most high profile companies going public this week.\nAMTD Digital:Asian digital solutions platform AMTD Digital(NYSE:HKD) offers risk solutions and digital insurance technology for partners. The company had revenue of $21.6 million in fiscal 2020 and $18.8 million through the first nine months of the current fiscal year. The company plans to sell 16 million ADSs at a price point of $6.80 to $8.20.\nMolecular Partners:Clinical stage biotechnology company Molecular Partners(NASDAQ:MOLN) isfocusedon using its pioneering DARPin product in categories including infectious diseases, oncology and ophthalmology. The company partnered with Novartis(NYSE:NVS) in 2020,Amgen Inc(NASDAQ:AMGN) in 2018 and AbbVie Inc(NYSE:ABBV) in 2011. Novartis owns 6% of the company. Molecular Partners plans to sell 3 million ADS.\nWalkMe:With a mission to change the way humans interact with technology,WalkMe(NASDAQ:WKME)offerssolutions for organizations. The company has many well-known companies as customers including Nestle and Veolia, two large European companies listed as case studies in the filing.\nWalkMe had revenue of $148 million in 2020 and revenue of $42.7 million in the first quarter of 2021. The company’s revenue was up 34% year-over-year in the last twelve months. The company has 368 customers that represent $100,000 or more in annual revenue and 22 customers that represent $1 million or more in annual revenue. WalkMe plans on selling 9.25 million shares at a price point of $29 to $32.\nConvey Holding:Health care company Convey Holding(NYSE:CNVY)partnerswith eight of the 10 largest Medicare Advantage companies in the U.S. The company had 2.5 million Medicare Advantage and 1.6 million Prescription Drug Plan members in 2020. Revenue in 2020 for the company was $282.9 million. First-quarter 2021 revenue was $82.6 million for the company. Convey Holding plans to sell 13.3 million shares at a price point of $14 to $16.\nAngel Oak Mortgage:Real estate finance company Angel Oak Mortgage(NYSE: AOMR) acquiresand invests in first lien non-QM Loans and other mortgage assets in the U.S. The company had assets of $534.9 million at the end of the first quarter of 2021. The company has elected to be taxed as a REIT. Angel Oak Mortgage is seeking to sell 8.1 million shares at a price point of $20 to $21.\nLyell Immunopharma:Seeking to disrupt the T-cell reprogramming market,Lyell ImmunoPharma(NASDAQ:LYEL)intendsto have four INDs submitted by the end of 2022. The company partnered withGlaxoSmithKline(NYSE:GSK) in 2019 in a deal good for up to $400 million in additional milestones after a $45-million upfront payment.\nGlaxoSmithKline owns 14% of Lyell and Bristol-MyersSquibb(NYSE:BMY) owned Celgene owns 5% of the company. Lyell is planning to sell 25 million shares at a price point of $16 to $18.\nVerve Therapeutics:Genetic medicine companyVerve Therapeutics(NASDAQ: VERV) isfocusedon cardiovascular disease. The company plans to sell 11.8 million shares at a price point of $16 to $18.\nAtai Life Sciences:Backedby Palantir Technologies(NYSE:PLTR) and Paypal Holdings(NASDAQ:PYPL) founder Peter Thiel,Atai Life Sciences(NASDAQ:ATAI) could be one of the high profile IPOs of the week.\nThe company isdevelopingtreatment options for mental health disorders. The company has 10 programs in its pipeline and six enabling technologies. The company is planning on selling 14.3 million shares at a price point of $13 to $15.\nAiHui Shou International:Pre-owned consumer electronics reseller AiHuiShou International(NYSE: RERE)seeksto give a second life to all idle goods.\nThe company’s three business lines — AHS Recycle, PJUT Marketplace and PaiPai Marketplace — help the company as the market leader in China with a market share of 6.6%. The company had revenue of $741.5 million in 2020 and $231.1 million in the first quarter of 2021, up 119% year-over-year.JD.com(NASDAQ:JD) will own 32.3% of the company after the IPO. The company plans on selling 16.2 million ADSs at a price point of $13 to $15.","news_type":1,"symbols_score_info":{"NVS":0.9,"WKME":0.9,"RERE":0.9,"LYEL":0.9,"AOMR":0.9,"ATAI":0.9,"CNVY":0.9,"MOLN":0.9,"HKD":0.9}},"isVote":1,"tweetType":1,"viewCount":272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126100368,"gmtCreate":1624546310954,"gmtModify":1703840046798,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/126100368","repostId":"1187819280","repostType":4,"repost":{"id":"1187819280","kind":"news","pubTimestamp":1624529642,"share":"https://ttm.financial/m/news/1187819280?lang=&edition=fundamental","pubTime":"2021-06-24 18:14","market":"us","language":"en","title":"The ‘shelter in suburbia’ trade is about to reverse — and these stocks will suffer","url":"https://stock-news.laohu8.com/highlight/detail?id=1187819280","media":"MarketWatch","summary":"5 reasons the pandemic megatrend is over.\n\nOne of the biggest investment stories of the COVID-19 pan","content":"<blockquote>\n <b>5 reasons the pandemic megatrend is over.</b>\n</blockquote>\n<p>One of the biggest investment stories of the COVID-19 pandemic has been the boom in consumer discretionary stocks with a “shelter in suburbia” theme. From e-commerce platforms to home improvement stores to furniture and housewares merchants, many of the top performers have fit this flavor.</p>\n<p>Take the broad-based Vanguard Consumer Discretionary Index Fund ETF VCR, +0.66% that surged more than 90% from March 2020 to March 2021. That was thanks to components like home improvement stocks Lowe’s LOW, -0.30% and Home Depot HD, -0.33% alongside retailers like TJX TJX, -0.08%.</p>\n<p>Lately, however, performance has started to lag for many of these names. In fact, since April 1 we’ve seen these three stocks all drift slightly into the red even as the S&amp;P 500 SPX, -0.11% has tacked on about 6% in the same period.</p>\n<p>And some fear that may only be the beginning. As one Wall Street insider said recently in a Bloomberg interview, a “huge unwind” is coming for stay-at-home stocks, including hardware stores and home-goods merchants.</p>\n<p>While some big-name “suburbia” trades are still relatively stable, signs of trouble are already emerging at the fringes. Century Communities CCS, -0.34% and Dream Finders Homes DFH, -2.55%, two mid-tier single family homebuilders, have seen shares crash by double digits over the last month. On the furnishings side, appliance giant Whirlpool Corporation WHR, -0.51% and department store Nordstrom JWN, +2.03% are down sharply from their spring highs.</p>\n<p><b>Here are five big reasons why:</b></p>\n<p><b>1.</b>&nbsp;<b>The upgrade cycle is over</b></p>\n<p>Last summer, white-collar workers who were stuck at home made note of overdue projects and took advantage of being able to easily meet with contractors. But in many ways, this growth is not sustainable.</p>\n<p>Consider the kind of purchases homeowners were making according to data from the NPD Group. Faucets, kitchen cabinets and even toilets were among the most popular products sold in 2020. Needless to say, even the most profligate homeowners aren’t going to follow this upgrade cycle of remodeling kitchens and bathrooms on an annual basis.</p>\n<p>The same is true for furniture and other home goods. Internet giant Comscore recorded the highest visitation to related websites in history in May 2020 with 133 million web surfers shopping for some kind of home goods. Once again, a new couch or lamp is not an annual purchase — so this trend seems unsustainable for much longer.</p>\n<p><b>2.&nbsp;Valuations are stretched</b></p>\n<p>Speaking of post-pandemic peaks for home-goods purveyors, we’ve seen the financials bear out these big increases via boosted profits and sales. However, we’ve also seen the stock of many related merchants surge even more — stretching their valuations from historical norms.</p>\n<p>Take TJX. Currently this discount retailer has a forward price-to-earnings ratio of more than 26, compared with a forward P/E of just 21 in spring 2020. Its trailing price-to-sales ratio is now 2.1 compared with 1.4.</p>\n<p>What’s more, valuations for previous darlings like TJX are out of line with peers, too. Consider the forward P/E of the overall S&amp;P 500 index is 22 right now, and other similar names like Macy’s M, +0.70% and Big Lots BIG, -3.71% actually have forward P/E ratios well under 10. You can argue TJX is unique, of course… but you also may want to be aware of what “fair value” looks like for many other stocks outside fashionable stay-at-home trades right now.</p>\n<p><b>3.&nbsp;Delays and shortages</b></p>\n<p>Future growth from pandemic-fueled peaks in these stocks is not impossible, of course. But given supply chain disruptions it seems highly unlikely. There are a host of reasons for these delays, including overseas shipping delays as well as capacity and output crunches that are affecting many industries, but “stay at home” stocks seem particularly hard hit.</p>\n<p>Home improvement products are simply nowhere to be found, with roughly 94% of builders reporting “at least some serious shortages of appliances” according to the National Association of Home Builders. Another 93% are running short on framing lumber and 87% say it is hard to obtain windows and doors.</p>\n<p>Even if you can get past demand concerns, without the raw materials to get to work it’s very hard to see future growth in this category.</p>\n<p><b>4.&nbsp;Inflationary pressures</b></p>\n<p>For the people who haven’t already ponied up the cash for a contractor or made their peace with extended delays for their expensive new furniture, there is a pretty big disincentive right now for new shoppers: inflation.</p>\n<p>The cost of living as measured by the Consumer Price Index jumped 0.6% in May to run at a 5% annual rate. That was not only higher than expectations, but the fastest pace since the summer of 2008. The inflation risks were so pronounced that the Federal Reserve publicly stated it could move up the schedule for expected interest rate increases to keep the risks under wraps.</p>\n<p>Inflation isn’t always a death knell, of course. But it has historically eroded purchasing power and could curtail some of the spending in “stay at home” stocks that we’ve seen in the last year or so.</p>\n<p><b>5.&nbsp;Home-equity hubris</b></p>\n<p>Speaking of red-hot inflation: In May, the median price for U.S. homes topped $350,000 for the first time ever — up 23.6% from 2020. What’s more, a Realtor.com survey showed roughly a third of selling homeowners expect to get more than their asking price, and roughly the same amount expect an offer within a week of listing.</p>\n<p>Some of this is justifiable. Many articles have been written in recent years about the dearth of supply in attractive markets, and it’s important to acknowledge the remote work of the pandemic has indeed created some disruptive introspection into why people live where they do.</p>\n<p>But here’s where things get dicey: homeowners who have already spent the expected premium on their home’s price well in advance. According to Freddie Mac, about $152.7 billion in equity loans were taken out on U.S. houses last year, a massive increase of 41.7% from 2019 and the highest refinancing cash-out dollar amount since 2007.</p>\n<p>Anyone remember what happened to the real-estate market in 2007? Or the similar sense of seller entitlement from those days? There’s no clear signs of a bubble bursting just yet, but there’s real risk American homeowners may be overly optimistic about what their homes are worth — and a chance this home equity loan free-for-all simply isn’t sustainable for much longer.</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>The ‘shelter in suburbia’ trade is about to reverse — and these stocks will suffer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe ‘shelter in suburbia’ trade is about to reverse — and these stocks will suffer\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/the-shelter-in-suburbia-trade-is-about-to-reverse-and-these-stocks-will-suffer-11624457411?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>5 reasons the pandemic megatrend is over.\n\nOne of the biggest investment stories of the COVID-19 pandemic has been the boom in consumer discretionary stocks with a “shelter in suburbia” theme. From e-...</p>\n\n<a href=\"https://www.marketwatch.com/story/the-shelter-in-suburbia-trade-is-about-to-reverse-and-these-stocks-will-suffer-11624457411?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/the-shelter-in-suburbia-trade-is-about-to-reverse-and-these-stocks-will-suffer-11624457411?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187819280","content_text":"5 reasons the pandemic megatrend is over.\n\nOne of the biggest investment stories of the COVID-19 pandemic has been the boom in consumer discretionary stocks with a “shelter in suburbia” theme. From e-commerce platforms to home improvement stores to furniture and housewares merchants, many of the top performers have fit this flavor.\nTake the broad-based Vanguard Consumer Discretionary Index Fund ETF VCR, +0.66% that surged more than 90% from March 2020 to March 2021. That was thanks to components like home improvement stocks Lowe’s LOW, -0.30% and Home Depot HD, -0.33% alongside retailers like TJX TJX, -0.08%.\nLately, however, performance has started to lag for many of these names. In fact, since April 1 we’ve seen these three stocks all drift slightly into the red even as the S&P 500 SPX, -0.11% has tacked on about 6% in the same period.\nAnd some fear that may only be the beginning. As one Wall Street insider said recently in a Bloomberg interview, a “huge unwind” is coming for stay-at-home stocks, including hardware stores and home-goods merchants.\nWhile some big-name “suburbia” trades are still relatively stable, signs of trouble are already emerging at the fringes. Century Communities CCS, -0.34% and Dream Finders Homes DFH, -2.55%, two mid-tier single family homebuilders, have seen shares crash by double digits over the last month. On the furnishings side, appliance giant Whirlpool Corporation WHR, -0.51% and department store Nordstrom JWN, +2.03% are down sharply from their spring highs.\nHere are five big reasons why:\n1. The upgrade cycle is over\nLast summer, white-collar workers who were stuck at home made note of overdue projects and took advantage of being able to easily meet with contractors. But in many ways, this growth is not sustainable.\nConsider the kind of purchases homeowners were making according to data from the NPD Group. Faucets, kitchen cabinets and even toilets were among the most popular products sold in 2020. Needless to say, even the most profligate homeowners aren’t going to follow this upgrade cycle of remodeling kitchens and bathrooms on an annual basis.\nThe same is true for furniture and other home goods. Internet giant Comscore recorded the highest visitation to related websites in history in May 2020 with 133 million web surfers shopping for some kind of home goods. Once again, a new couch or lamp is not an annual purchase — so this trend seems unsustainable for much longer.\n2. Valuations are stretched\nSpeaking of post-pandemic peaks for home-goods purveyors, we’ve seen the financials bear out these big increases via boosted profits and sales. However, we’ve also seen the stock of many related merchants surge even more — stretching their valuations from historical norms.\nTake TJX. Currently this discount retailer has a forward price-to-earnings ratio of more than 26, compared with a forward P/E of just 21 in spring 2020. Its trailing price-to-sales ratio is now 2.1 compared with 1.4.\nWhat’s more, valuations for previous darlings like TJX are out of line with peers, too. Consider the forward P/E of the overall S&P 500 index is 22 right now, and other similar names like Macy’s M, +0.70% and Big Lots BIG, -3.71% actually have forward P/E ratios well under 10. You can argue TJX is unique, of course… but you also may want to be aware of what “fair value” looks like for many other stocks outside fashionable stay-at-home trades right now.\n3. Delays and shortages\nFuture growth from pandemic-fueled peaks in these stocks is not impossible, of course. But given supply chain disruptions it seems highly unlikely. There are a host of reasons for these delays, including overseas shipping delays as well as capacity and output crunches that are affecting many industries, but “stay at home” stocks seem particularly hard hit.\nHome improvement products are simply nowhere to be found, with roughly 94% of builders reporting “at least some serious shortages of appliances” according to the National Association of Home Builders. Another 93% are running short on framing lumber and 87% say it is hard to obtain windows and doors.\nEven if you can get past demand concerns, without the raw materials to get to work it’s very hard to see future growth in this category.\n4. Inflationary pressures\nFor the people who haven’t already ponied up the cash for a contractor or made their peace with extended delays for their expensive new furniture, there is a pretty big disincentive right now for new shoppers: inflation.\nThe cost of living as measured by the Consumer Price Index jumped 0.6% in May to run at a 5% annual rate. That was not only higher than expectations, but the fastest pace since the summer of 2008. The inflation risks were so pronounced that the Federal Reserve publicly stated it could move up the schedule for expected interest rate increases to keep the risks under wraps.\nInflation isn’t always a death knell, of course. But it has historically eroded purchasing power and could curtail some of the spending in “stay at home” stocks that we’ve seen in the last year or so.\n5. Home-equity hubris\nSpeaking of red-hot inflation: In May, the median price for U.S. homes topped $350,000 for the first time ever — up 23.6% from 2020. What’s more, a Realtor.com survey showed roughly a third of selling homeowners expect to get more than their asking price, and roughly the same amount expect an offer within a week of listing.\nSome of this is justifiable. Many articles have been written in recent years about the dearth of supply in attractive markets, and it’s important to acknowledge the remote work of the pandemic has indeed created some disruptive introspection into why people live where they do.\nBut here’s where things get dicey: homeowners who have already spent the expected premium on their home’s price well in advance. According to Freddie Mac, about $152.7 billion in equity loans were taken out on U.S. houses last year, a massive increase of 41.7% from 2019 and the highest refinancing cash-out dollar amount since 2007.\nAnyone remember what happened to the real-estate market in 2007? Or the similar sense of seller entitlement from those days? There’s no clear signs of a bubble bursting just yet, but there’s real risk American homeowners may be overly optimistic about what their homes are worth — and a chance this home equity loan free-for-all simply isn’t sustainable for much longer.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895308421,"gmtCreate":1628722500963,"gmtModify":1676529829200,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Let's go !&nbsp;","listText":"Let's go !&nbsp;","text":"Let's go !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/895308421","repostId":"1149859103","repostType":4,"isVote":1,"tweetType":1,"viewCount":2758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143142846,"gmtCreate":1625785223085,"gmtModify":1703748337802,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143142846","repostId":"1162204971","repostType":4,"isVote":1,"tweetType":1,"viewCount":1943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163917854,"gmtCreate":1623856555078,"gmtModify":1703821646704,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Please comment and like","listText":"Please comment and like","text":"Please comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/163917854","repostId":"1137784542","repostType":4,"isVote":1,"tweetType":1,"viewCount":864,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890167502,"gmtCreate":1628087521806,"gmtModify":1703501040728,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"2023 ! Wow","listText":"2023 ! Wow","text":"2023 ! Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/890167502","repostId":"2156060681","repostType":4,"isVote":1,"tweetType":1,"viewCount":2101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803026396,"gmtCreate":1627397382615,"gmtModify":1703489209430,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Good read !","listText":"Good read !","text":"Good read !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/803026396","repostId":"1154449552","repostType":4,"isVote":1,"tweetType":1,"viewCount":2204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126580882,"gmtCreate":1624578692546,"gmtModify":1703840666585,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126580882","repostId":"2146023953","repostType":4,"repost":{"id":"2146023953","kind":"highlight","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":1624577436,"share":"https://ttm.financial/m/news/2146023953?lang=&edition=fundamental","pubTime":"2021-06-25 07:30","market":"us","language":"en","title":"Job hole or inflation? Fed policymakers split over risk view","url":"https://stock-news.laohu8.com/highlight/detail?id=2146023953","media":"Reuters","summary":"June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to sta","content":"<p>June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to start reducing the central bank's support for the economy, they are split over what poses the bigger risk: a still-large jobs deficit or a potential inflation shock.</p>\n<p>Robert Kaplan and James Bullard, chiefs respectively of the Dallas and St. Louis Fed banks, on Thursday both warned that inflation could stay higher for longer than many of their colleagues may anticipate.</p>\n<p>\"Policymakers will have to take this new risk into account in the months and quarters ahead,\" Bullard told the Clayton Chamber of Commerce near St. Louis.</p>\n<p>Kaplan, speaking to the Headliners Club of Austin, said he sees \"upside risk\" to his projection for 2.4% or 2.5% inflation next year, already at the top of the range of Fed forecasts. He added that the Fed should start trimming its asset purchases \"sooner than later\" to gently begin the process of reducing stimulus and avoid having to slam on the brakes sharply later on. Continuing asset purchases longer than necessary could also fuel excesses and imbalances in financial markets, Kaplan said.</p>\n<p>Both believe the Fed will need to start raising interest rates from current rock-bottom levels next year.</p>\n<p>Meanwhile, New York Fed President John Williams and Philadelphia Fed President Patrick Harker, speaking at separate events, emphasized how much farther the labor market has to go before it heals.</p>\n<p>\"Once the recovery is more complete and the economy is in a very good place, then we can take back the low interest rates and get them back to more normal levels,\" Williams said during a virtual conversation hosted by the College of Staten Island. \"It's not the time now because the economy is still far from maximum employment.\"</p>\n<p>Harker, speaking at a virtual event held by the Official Monetary and <a href=\"https://laohu8.com/S/FISI\">Financial Institutions</a> Forum, said the economy is now down around 10.6 million jobs compared with what there would have been had jobs growth maintained its pre-pandemic trajectory.</p>\n<p>Neither Harker or Williams said when they believe the Fed will need to start raising rates, though a majority at the central bank do believe they'll need to start increasing rates in 2023.</p>\n<p>Since the pandemic began last year, the Fed has faced little tension between its two mandates of full employment and stable prices. Near-zero interest rates and $120 billion in monthly asset purchases were calibrated to do double duty, pushing up on hiring and what had been too-low inflation by driving down borrowing costs.</p>\n<p>But now, with the economy reopening at a fast clip and businesses struggling to meet demand, consumer prices rose 5% last month, the fastest since 2008.</p>\n<p>Fed Chair Jerome Powell has argued that the rise will prove temporary, with inflation cooling as reopening schools and receding infection fears bring more Americans back to the workforce and businesses ramp up production to cure supply bottlenecks.</p>\n<p>But some policymakers have their doubts. Dallas Fed's Kaplan points to 2.5 million or more Americans over 55 who have retired since the pandemic began, and on Thursday said it's unclear how many will return to the workforce.</p>\n<p>That, along with the 1.5 million workers who have left jobs to care for family members, means that despite the giant jobs hole the labor market may be tighter than the 5.8% unemployment rate suggests, he said.</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>Job hole or inflation? Fed policymakers split over risk view</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\">\nJob hole or inflation? Fed policymakers split over risk view\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\">2021-06-25 07:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to start reducing the central bank's support for the economy, they are split over what poses the bigger risk: a still-large jobs deficit or a potential inflation shock.</p>\n<p>Robert Kaplan and James Bullard, chiefs respectively of the Dallas and St. Louis Fed banks, on Thursday both warned that inflation could stay higher for longer than many of their colleagues may anticipate.</p>\n<p>\"Policymakers will have to take this new risk into account in the months and quarters ahead,\" Bullard told the Clayton Chamber of Commerce near St. Louis.</p>\n<p>Kaplan, speaking to the Headliners Club of Austin, said he sees \"upside risk\" to his projection for 2.4% or 2.5% inflation next year, already at the top of the range of Fed forecasts. He added that the Fed should start trimming its asset purchases \"sooner than later\" to gently begin the process of reducing stimulus and avoid having to slam on the brakes sharply later on. Continuing asset purchases longer than necessary could also fuel excesses and imbalances in financial markets, Kaplan said.</p>\n<p>Both believe the Fed will need to start raising interest rates from current rock-bottom levels next year.</p>\n<p>Meanwhile, New York Fed President John Williams and Philadelphia Fed President Patrick Harker, speaking at separate events, emphasized how much farther the labor market has to go before it heals.</p>\n<p>\"Once the recovery is more complete and the economy is in a very good place, then we can take back the low interest rates and get them back to more normal levels,\" Williams said during a virtual conversation hosted by the College of Staten Island. \"It's not the time now because the economy is still far from maximum employment.\"</p>\n<p>Harker, speaking at a virtual event held by the Official Monetary and <a href=\"https://laohu8.com/S/FISI\">Financial Institutions</a> Forum, said the economy is now down around 10.6 million jobs compared with what there would have been had jobs growth maintained its pre-pandemic trajectory.</p>\n<p>Neither Harker or Williams said when they believe the Fed will need to start raising rates, though a majority at the central bank do believe they'll need to start increasing rates in 2023.</p>\n<p>Since the pandemic began last year, the Fed has faced little tension between its two mandates of full employment and stable prices. Near-zero interest rates and $120 billion in monthly asset purchases were calibrated to do double duty, pushing up on hiring and what had been too-low inflation by driving down borrowing costs.</p>\n<p>But now, with the economy reopening at a fast clip and businesses struggling to meet demand, consumer prices rose 5% last month, the fastest since 2008.</p>\n<p>Fed Chair Jerome Powell has argued that the rise will prove temporary, with inflation cooling as reopening schools and receding infection fears bring more Americans back to the workforce and businesses ramp up production to cure supply bottlenecks.</p>\n<p>But some policymakers have their doubts. Dallas Fed's Kaplan points to 2.5 million or more Americans over 55 who have retired since the pandemic began, and on Thursday said it's unclear how many will return to the workforce.</p>\n<p>That, along with the 1.5 million workers who have left jobs to care for family members, means that despite the giant jobs hole the labor market may be tighter than the 5.8% unemployment rate suggests, he said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146023953","content_text":"June 24 (Reuters) - As Federal Reserve policymakers begin an intense debate over when and how to start reducing the central bank's support for the economy, they are split over what poses the bigger risk: a still-large jobs deficit or a potential inflation shock.\nRobert Kaplan and James Bullard, chiefs respectively of the Dallas and St. Louis Fed banks, on Thursday both warned that inflation could stay higher for longer than many of their colleagues may anticipate.\n\"Policymakers will have to take this new risk into account in the months and quarters ahead,\" Bullard told the Clayton Chamber of Commerce near St. Louis.\nKaplan, speaking to the Headliners Club of Austin, said he sees \"upside risk\" to his projection for 2.4% or 2.5% inflation next year, already at the top of the range of Fed forecasts. He added that the Fed should start trimming its asset purchases \"sooner than later\" to gently begin the process of reducing stimulus and avoid having to slam on the brakes sharply later on. Continuing asset purchases longer than necessary could also fuel excesses and imbalances in financial markets, Kaplan said.\nBoth believe the Fed will need to start raising interest rates from current rock-bottom levels next year.\nMeanwhile, New York Fed President John Williams and Philadelphia Fed President Patrick Harker, speaking at separate events, emphasized how much farther the labor market has to go before it heals.\n\"Once the recovery is more complete and the economy is in a very good place, then we can take back the low interest rates and get them back to more normal levels,\" Williams said during a virtual conversation hosted by the College of Staten Island. \"It's not the time now because the economy is still far from maximum employment.\"\nHarker, speaking at a virtual event held by the Official Monetary and Financial Institutions Forum, said the economy is now down around 10.6 million jobs compared with what there would have been had jobs growth maintained its pre-pandemic trajectory.\nNeither Harker or Williams said when they believe the Fed will need to start raising rates, though a majority at the central bank do believe they'll need to start increasing rates in 2023.\nSince the pandemic began last year, the Fed has faced little tension between its two mandates of full employment and stable prices. Near-zero interest rates and $120 billion in monthly asset purchases were calibrated to do double duty, pushing up on hiring and what had been too-low inflation by driving down borrowing costs.\nBut now, with the economy reopening at a fast clip and businesses struggling to meet demand, consumer prices rose 5% last month, the fastest since 2008.\nFed Chair Jerome Powell has argued that the rise will prove temporary, with inflation cooling as reopening schools and receding infection fears bring more Americans back to the workforce and businesses ramp up production to cure supply bottlenecks.\nBut some policymakers have their doubts. Dallas Fed's Kaplan points to 2.5 million or more Americans over 55 who have retired since the pandemic began, and on Thursday said it's unclear how many will return to the workforce.\nThat, along with the 1.5 million workers who have left jobs to care for family members, means that despite the giant jobs hole the labor market may be tighter than the 5.8% unemployment rate suggests, he said.","news_type":1,"symbols_score_info":{".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175987743,"gmtCreate":1627002821882,"gmtModify":1703482184457,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"All the way !","listText":"All the way !","text":"All the way !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175987743","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":1735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143144874,"gmtCreate":1625785360498,"gmtModify":1703748339905,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Waiting strategy","listText":"Waiting strategy","text":"Waiting strategy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143144874","repostId":"1145034030","repostType":4,"isVote":1,"tweetType":1,"viewCount":1742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126594767,"gmtCreate":1624578159359,"gmtModify":1703840634831,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Wonderful&nbsp;","listText":"Wonderful&nbsp;","text":"Wonderful","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126594767","repostId":"1161267930","repostType":4,"isVote":1,"tweetType":1,"viewCount":1014,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164671858,"gmtCreate":1624204239274,"gmtModify":1703830606599,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Good read !&nbsp;","listText":"Good read !&nbsp;","text":"Good read !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164671858","repostId":"1133385197","repostType":4,"repost":{"id":"1133385197","kind":"news","pubTimestamp":1624151969,"share":"https://ttm.financial/m/news/1133385197?lang=&edition=fundamental","pubTime":"2021-06-20 09:19","market":"us","language":"en","title":"Answering the great inflation question of our time","url":"https://stock-news.laohu8.com/highlight/detail?id=1133385197","media":"finance.yahoo","summary":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up","content":"<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.</p>\n<p>Unfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”</p>\n<p>The current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?</p>\n<p>Before I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.</p>\n<p>As an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.</p>\n<p>Until now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)</p>\n<p><img src=\"https://static.tigerbbs.com/87f75dfcb98fb5a0e7c3f9d3f8d336e2\" tg-width=\"705\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p>\n<p>Used car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.</p>\n<p>To be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)</p>\n<p>But that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&amp;P 500 down 1.91% this week, its worst week since February.</p>\n<p>Given this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.</p>\n<p>Now I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.</p>\n<p>As for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.</p>\n<p>Which brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.</p>\n<p>“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”</p>\n<p>“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.</p>\n<p>COVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.</p>\n<p>A prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.</p>\n<p>Another secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.</p>\n<p><b>Anti-inflation forces</b></p>\n<p>But here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?</p>\n<p>I say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”</p>\n<p>To buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.</p>\n<p>To me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.</p>\n<p>Not only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.</p>\n<p>So technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.</p>\n<p>There is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.</p>\n<p>After World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)</p>\n<p>Like its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.</p>\n<p>The internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.</p>\n<p>So technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.</p>\n<p>COVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.</p>\n<p>How significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.</p>\n<p>More downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”</p>\n<p>And so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”</p>\n<p>I don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)</p>","source":"lsy1612507957220","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>Answering the great inflation question of our 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\">\nAnswering the great inflation question of our time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-20 09:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html><strong>finance.yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these...</p>\n\n<a href=\"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/answering-the-great-inflation-question-of-our-time-114153460.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133385197","content_text":"Prices of everything; a house in Phoenix, a Ford F-150, a plane ticket to New York, have all gone up. That much is true.\nUnfortunately pretty much everything else about inflation—a red hot topic these days—is conjecture. And that’s vexing, not just for the dismal scientists (aka economists), but for all of us, because whether or not prices are really rising, by how much and for how long, has massive implications in our lives. Or as Mark Zandi, chief economist at Moody’s Analytics, says: “Inflation is one of the mysteries of economic study and thought. A difficult thing to gauge and forecast and get right. That’s why the risks are high.”\nThe current debate over inflation really revolves around two questions: First, is this current spate of inflation, just that, a spate—or to use Wall Street’s buzzword of the moment, “transitory,”—or not? (Just to give you an idea of how buzzy, when I Google the word “transitory” the search engine suggests “inflation” after it.) And second, transitory (aka temporary) inflation or not, what does it suggest for the economy and markets?\nBefore I get into that, let me lay out what’s going on with prices right now. First, know that inflation,which peaked in 1980 at an annualized rate of 13.55%,has been tame for quite some time, specifically 4% or less for nearly 30 years. Which means that anyone 40 years old or younger has no experience with inflation other than maybe from an Econ 101 textbook. Obviously that could be a problem.\nAs an aside I remember President Ford in 1974 trying to jawbone inflation down with his \"Whip Inflation Now\" campaign, which featured“Win” buttons,earringsand evenugly sweaters.None of this worked and it took draconian measures by Fed Chair Paul Volcker (raising rates and targeting money supply,as described by Former President of the Federal Reserve Bank of St. Louis, William Poole)to eventually tame inflation and keep it under wraps for all those years.\nUntil now perhaps. Last week theLabor Department reported that consumer prices (the CPI, or consumer price index) rose 5% in May,the fastest annual rate in nearly 13 years—which was when the economy was overheating from the housing boom which subsequently went bust and sent the economy off a cliff and into the Great Recession. Core inflation, which excludes volatile food and energy prices, was up 3.8%, the biggest increase since May 1992. (For the record, the likelihood of the economy tanking right now is de minimis.)\n\nUsed car and truck prices are a major driver of inflation, climbing 7.3% last month and 29.7% over the past year. New car prices are up too, which have pushed upshares of Ford and GM a remarkable 40% plus this year.Clearly Americans want to buy vehicles to go on vacation and get back to work. And Yahoo Finance’sJanna Herron reportsthat rents are rising at their fastest pace in 15 years.\nTo be sure, not all prices are climbing.As Yahoo Finance’s Rick Newman points out,prices are not up much at all for health care, education and are basically flat for technology, including computers, smartphones and internet service (an important point which we’ll get back to.)\nBut that’s the counterpoint really. Americans are obsessed with cars, housing is critical and many of us are experiencing sticker shock booking travel this summer. Higher prices are front and center. Wall Street too is in a tizzy about inflation, and concerns about it and more importantly Federal Reserve policy in response to inflation (see below), sent stocks lower with the S&P 500 down 1.91% this week, its worst week since February.\nGiven this backdrop, the tension (such as it is) was high when the Fed met this week to deliver its forecast and for Chair Jay Powell to answer questions from the media. Or at least so said hedge fund honcho Paul Tudor Jones,who characterized the proceedings on CNBCas “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting of the past four or five years.” Jones was critical of the Fed, which he believes is now stimulating the economy unnecessarily by keeping interest rates low and by buying financial assets. Unnecessarily, Jones says, because the economy is already running hot and needs no support. The Fed (which is in the transitory camp when it comes to inflation) risks overheating the economy by creating runaway inflation, according to PTJ.\nNow I don’t see eye to eye with Jones on this, though I should point out, he's a billionaire from investing in financial markets, and let’s just say I’m not. I should also point out that Jones, 66, is in fact old enough to remember inflation, never mind that as a young man he called the 1987 stock market crash. So we should all ignore Jones at our peril.\nAs for what the Fed put forth this past Wednesday, well it wasn’t much, signaling an expectation ofraising interest rates twice by the end of 2023(yes, that is down the road.) And Powell, who’s become much more adept at not rippling the waters these days after some rougher forays earlier in his tenure, didn’t drop any bombshells in the presser.\nWhich brings us to the question of why the Federal Reserve isn’t so concerned about inflation and thinks it is mostly—here’s that word again—transitory. To answer that, we need to first address why prices are rising right now, which can be summed up in one very familiar abbreviation: COVID-19. When COVID hit last spring the economy collapsed, which crushed demand in sectors like leisure, travel and retail. Now the economy is roaring back to life and businesses can raise prices, certainly over 2020 levels.\n“We clearly should’ve expected it,” says William Spriggs, chief economist at the AFL-CIO and a professor of economics at Howard University. “You can’t shut down the economy and think you turn on the switch [without some inflation].”\n“We had a pandemic that forced an artificial shutdown of the economy in a way that even the collapse of the financial system and the housing market didn’t, and we had a snapback at a rate we’ve never seen before—not because of the fundamentals driving recovery but because of government,” says Joel Naroff, president and chief economist of Naroff Economics.\nCOVID had other secondary effects on the economy though, besides just ultimately producing a snapback. For one thing, the pandemic throttled supply chains, specifically the shipping of parts and components from one part of the globe to another. It also confused managers about how much to produce and therefore how many parts to order.\nA prime example here is what happened to the chip (semiconductor) and auto industrieswhich I wrote about last month.Car makers thought no one would buy vehicles during the pandemic and pared back their orders with chipmakers, (which were having a tough time shipping their chips anyway.) Turned out the car guys were wrong, millions of people wanted cars and trucks, but the automakers didn’t have enough chips for their cars and had to curb production. Fewer vehicles and strong demand led to higher new car prices, which cascaded to used car prices then to car rental rates. Net net, all the friction and slowness of getting things delivered now adds to costs which causes companies to raise prices.\nAnother secondary effect of COVID which has been inflationary comes from employment,which I got into a bit last week.We all know millions were thrown out of work by COVID last year, many of whom were backstopped by government payments that could add up to $600 a week (state and federal.) These folks have been none too keen on coming back to work for minimum wage, or $290 a week. So to lure them back employers are having to pay more, which puts more money in people's pockets which allows stores for example to raise prices.\nAnti-inflation forces\nBut here’s the big-time question: If COVID was temporary, and therefore its effects are temporary and inflation is one of its effects then doesn’t it follow, ipso facto, that inflation is (OK I’ll say it again), transitory?\nI say yes, (with a bit of a caveat.) And most economists, like Claudia Sahm, a senior fellow at the Jain Family Institute and a former Federal Reserve economist, agree. “‘Transitory’ has become a buzzword,” she says. “It is important to be more concrete about what we mean by that. We’re probably going to see in the next few months inflation numbers that are bigger than average, but as long as they keep stepping down, that’s the sign of it being transitory. If we didn’t see any sign of inflation stepping down some, it would’ve started feeling like ‘Houston, we have a problem.’”\nTo buttress my argument beyond that above \"if-then\" syllogism, let’s take a look at why inflation has been so low for the past three decades.\nTo me this is mostly obvious. Prices have been tamped down by the greatest anti-inflation force of our lifetime, that being technology, specifically the explosion of consumer technology. Think about it. The first wave of technology, a good example would be IBM mainframes, saved big companies money in back-office functions, savings which they mostly kept for themselves (higher profits) and their shareholders. But the four great landmark events in the advent of consumer technology; the introduction ofthe PC in 1974 (MITS Altair),the Netscape IPO of 1995,Google search in 1998,and the launch of theiPhone in 2007(I remember Steve Jobs demoing it to me like it was yesterday), greatly accelerated, broadened and deepened this deflationary trend.\nNot only has technology been pushing down the cost of everything from drilling for oil, to manufacturing clothes to farming, and allowing for the creation of groundbreaking (and deflationary) competitors like Uber, Airbnb and Netflix, but it also let consumers find—on their phones—the most affordable trip to Hawaii, the least expensive haircut or the best deal on Nikes.\nSo technology has reduced the cost of almost everything and will continue to do so the rest of our lifetime. Bottom line: Unless something terrible happens, the power of technology will outweigh and outlive COVID.\nThere is one mitigating factor and that is globalism, which is connected to both technology and COVID. Let me briefly explain.\nAfter World War II, most of humanity has become more and more connected in terms of trade, communication, travel, etc. (See supply chain above.) Technology of course was a major enabler here; better ships, planes and faster internet, all of which as it grew more potent, accelerated globalism. Another element was the introduction of political constructs like the World Trade Organization and NAFTA. (I think of the Clinton administration andChina joining the WTO in 2001as perhaps the high-water marks of globalization.)\nLike its technological cousin, globalism has deflationary effects particularly on the labor front as companies could more and more easily find lowest cost countries to produce goods and source materials. And like technology, globalization seemed inexorable, which it was, until it wasn’t. Political winds, manifested by the likes of Brexit and leaders like Putin, Xi Jinping, Erdogan, Bolsonaro, Duterte and of course Donald Trump have caused globalism to wane and anti-globalism and nationalism to wax.\nThe internet too, once seen as only a great connector, has also become a global divider, as the world increasingly fractures into Chinese, U.S. and European walled digital zones when it comes to social media and search for example. Security risks, privacy, spying and hacking of course divide us further here too.\nSo technology, which had made globalism stronger and stronger, now also makes it weaker and weaker.\nCOVID plays a role in rethinking globalism as it exposes vulnerabilities in the supply chain. Companies that were rethinking their manufacturing in China but considering another country, are now wondering if it just makes sense to repatriate the whole shebang. Supply chains that were optimized for cost only are being rethought with security and reliability being factored in and that costs money.\nHow significant is this decline in globalization and how permanent is it? Good questions. But my point here is whether or not \"globalism disrupted\" is transitory (!) or not, it could push prices up, (in the short and intermediate run at least), as cost is sacrificed for predictability. Longer term I say Americans are a resourceful people. We’ll figure out how to make cost effective stuff in the U.S. It’s also likely that globalism will trend upward again, though perhaps not as unfettered as it once was.\nMore downward pressure on pricing could come from shifts in employment practices. Mark Zandi points out that “the work-from-anywhere dynamic could depress wage growth and prices. If I don’t need to work in New York anymore and could live in Tampa, it stands to reason my wage could get cut or I won’t get the same wage increase in the future.”\nAnd so what is Zandi’s take on transitory? “What we’re observing now is prices going back to pre-pandemic,” he says. “The price spikes we’re experiencing now will continue for the next few months through summer but certainly by the end of year, this time next year, they will have disappeared. I do think underlying inflation will be higher post-pandemic than pre-pandemic, but that’s a feature not a bug.”\nI don’t disagree. To me it’s simple: The technology wave I’ve described above is bigger than COVID and bigger than the rise and fall of globalism. And that is why, ladies and gentlemen, I believe inflation will be transitory, certainly in the long run. (Though I’m well aware of whatJohn Maynard Keynes said about the long run.)","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":768,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164671087,"gmtCreate":1624204217949,"gmtModify":1703830605790,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Good opportunity&nbsp;","listText":"Good opportunity&nbsp;","text":"Good opportunity","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164671087","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166722718,"gmtCreate":1624025868734,"gmtModify":1703826966210,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Yeah.","listText":"Yeah.","text":"Yeah.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166722718","repostId":"2144775875","repostType":4,"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895302412,"gmtCreate":1628722589736,"gmtModify":1676529829247,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Wow!&nbsp;","listText":"Wow!&nbsp;","text":"Wow!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895302412","repostId":"2158474560","repostType":4,"isVote":1,"tweetType":1,"viewCount":1694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803028283,"gmtCreate":1627397344142,"gmtModify":1703489206949,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"All the way !&nbsp;","listText":"All the way !&nbsp;","text":"All the way !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803028283","repostId":"1154449552","repostType":4,"isVote":1,"tweetType":1,"viewCount":2161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164673158,"gmtCreate":1624204196274,"gmtModify":1703830605146,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164673158","repostId":"1161408410","repostType":4,"repost":{"id":"1161408410","kind":"news","pubTimestamp":1624065771,"share":"https://ttm.financial/m/news/1161408410?lang=&edition=fundamental","pubTime":"2021-06-19 09:22","market":"us","language":"en","title":"Wall Street Crime And Punishment: The Rise And Fall Of Crazy Eddie","url":"https://stock-news.laohu8.com/highlight/detail?id=1161408410","media":"benzinga","summary":"Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers,","content":"<div>\n<p>Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers, brokers and financial ne’er-do-wells whose ambition and greed take them in the wrong direction.\nIf ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie\">Web Link</a>\n\n</div>\n","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: The Rise And Fall Of Crazy Eddie</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Crime And Punishment: The Rise And Fall Of Crazy Eddie\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-19 09:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers, brokers and financial ne’er-do-wells whose ambition and greed take them in the wrong direction.\nIf ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/06/21596990/wall-street-crime-and-punishment-the-rise-and-fall-of-crazy-eddie","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161408410","content_text":"Wall Street Crime and Punishment is a weekly series by Benzinga's Phil Hall chronicling the bankers, brokers and financial ne’er-do-wells whose ambition and greed take them in the wrong direction.\nIf you were living in the New York metropolitan area during the 1970s and 1980s, you probably remember the commercials for the Crazy Eddie electronics retail chain. They were impossible to miss: More than 7,500 spots featuring a frenetic, motor-mouthed spokesperson bombilating frenetically about the “in-saaaaaaaaane” discounts offered by the store.\nCrazy Eddie was never the biggest retail operation in the region. At its peak, there were only 43 locations spread across four states.\nBut the ubiquity of the commercials made it seem more prominent than it actually was, and the excess attention eventually brought harsh spotlights on the financial chicanery perpetrated by its chief executive,Eddie Antar.\nAn Audacious Start:Eddie Antar was born in Brooklyn, New York, on Dec. 18, 1947, the grandson of Syrian Jewish immigrants. Antar was an intelligent youth but found school boring, dropping out at 16 to work odd jobs before setting up a small stand at New York’s Port Authority in the heart of Manhattan where he sold portable televisions. While Antar belatedly realized he had the wrong product line in the wrong location, he used the experience to sharpen his sales skills.\nBy 1969, Antar saved up enough money to go into business with his father Sam and cousin named Ronnie Gindi, creating a retail operation called ERS Electronics. They opened an electronics store in the Kings Highway business shopping district in Brooklyn called Sights and Sounds.\nAt the time, small and independently-owned electronics retailers operated at a significant disadvantage against major chains due to the fair trade laws of the era that enabled manufacturers to establish a single standard retail price all retailers needed to list. To stand out from the competition, Antar challenged the laws by marking down his merchandise, thus offering a discount absent elsewhere in this retail sector.\nSome manufacturers got wise to this and refused to do business with Antar, but he circumvented their boycott by purchasing excess stock from other businesses and obtaining products through grey-market channels from overseas sources.\nThe stress was great and Gindi eventually lost interest in the enterprise, selling his one-third of the business to Antar.\nBut how could the store remain afloat financially through its seemingly reckless discounting? As Antar’s father Sam would later recall in an interview, the lo-fi nature of old-school retailing work enabled them to put their ethics on hold.\n“Back then, most customers paid in cash,” he said. “If we don’t disclose the sale, we keep the sales tax. That’s a good cushion to be able to afford to beat the competition.”\nSights and Sounds began to attract bargain hunters from outside of Brooklyn and Antar turned into something of a one-man, in-store comedy show, going so far as taking the shoes of cash-strapped customers who wanted to buy stereos for deposits and jokingly preventing shoppers from leaving unless they made a purchase.\nAntar’s shtick was so amusing that his first wife Deborah came home one evening in 1971 with a story about how one of her co-workers was talking about his shopping trip to Sights and Sounds.\nThe co-worker, who was unaware of Deborah’s connection to the store, talked happily about dealing with a salesperson that he dubbed “Crazy Eddie.” At that point, Antar decided to change the name of Sights and Sounds to Crazy Eddie.\nAn Advertising Assault:The fair trade law that initially stifled Antar and other smaller businesses was repealed in 1972. Antar’s aggressive discounting and colorful personality enabled him to prepare for a business expansion — he moved to a larger store on Kings Highway, then opened a location in the Long Island town of Syosset in 1973 and in the heart of Manhattan in 1975.\nAntar recognized how his larger competitors used advertising to their advantage, and in 1972 he began marketing his business over the airwaves via WPIX-FM, a popular music station that mixed rock oldies with current Top 40 hits. Antar created an ad copy script that would be read live on the air by Jerry Carroll, one of the station’s disk jockeys. But Carroll decided to improvise, reading the copy in a mock-frenzied manner and creating a new closing line with “Crazy Eddie — his prices are in-saaaaaaaaane.”\nRather than be upset by the deviation to the script, Antar was ecstatic with Carroll’s flippant approach as his delivery stood out wildly from the other advertising running on the station. Antar contracted Carroll to be his on-air pitchman for radio, and in 1975 Carroll was brought in front of the cameras for a television campaign.\nIt was through the television commercials Crazy Eddie became the center of consumer attention. For the next 10 years, the commercials offered endless variations on the same set-up: Carroll wore the same outfit — a dark blazer and a turtleneck sweater — and stood surrounded by displays of the electronics being peddled.\nEach commercial ran about 30 seconds, but Carroll spoke so rapidly that it seemed he was trying to cover 60 seconds of a script in half of his allotted time.\nCarroll’s physical delivery was comically spastic, with flailing arms, bulging eyes and the most manic smile this side of the Joker.\nHe would inevitably challenge shoppers to “shop around, get the best prices you can find, then bring ’em to Crazy Eddie and he’ll beat ’em.” And each commercial ended with Carroll stretching his arms out while proclaiming, “Crazy Eddie — his prices are in-saaaaaaaaane.”\nThere would be a few variations to the presentation, including a Christmas season ad campaign and a “Christmas in August” summertime effort with Carroll dressed in a Santa suit while being pelted with Styrofoam snowballs and papery snowflakes.\nA couple of movie spoof spots put Carroll in parodies of “Casablanca,” “Saturday Night Fever,” “Superman” and “10,” and one ad had a man in a gorilla suit grunting dialogue while subtitles offered simian-to-English translations.\nNot So Funny:After the commercials came on in full force, Crazy Eddie generated $350 million in annual revenue during its prime years.\nBut as Crazy Eddie grew, Antar’s approach to business became more problematic: cash payments were not recorded, the sales tax was pocketed and employees received off-the-books pay rather than paychecks that clearly deducted federal and state taxes.\nAntar helped finance his cousin Sam Antar’s college education and brought him on as a chief financial officer, but Sam would later recall this was not done out of love of family.\n“The whole purpose of the business was to commit premeditated fraud,” Sam recounted in an interview with MentalFloss.com. “My family put me through college to help them commit more sophisticated fraud in the future. I was trained to be a criminal.\n\"People have a certain idea of Crazy Eddie — in reality, it was a dark criminal enterprise.”\nAntar initially kept his ill-gotten gains hidden within his home, but later began sending the money far into the world. Offshore bank accounts in Canada, Gibraltar, Israel, Liberia, Luxembourg, Panama and Switzerland were set up, and by the early 1980s, Antar and his family were skimming upwards of $4 million annually in unreported income and unpaid taxes.\nEventually, the graft became too big to easily hide. The solution, Antar theorized, was not to hide but to be in the greatest spotlight imaginable: Antar decided to take Crazy Eddie public.\nHello, Wall Street:Crazy Eddie conducted its initial public offering on Sept. 13, 1984, taking the NASDAQ symbol CRZY. The popularity of the television commercials helped bring in the initial wave of investor interest, while gourmet-level cooked books gave the phony impression of a well-run retail operation.\nTwo years after first trading at $8 a share, Crazy Eddie stock was at a split-adjusted $75 per share.\nWhy Antar believed he could continue with his shenanigans amid the added scrutiny given to public companies is a mystery, but by 1987 he found himself in lethal shoals.\nThe increased retail competition saw Crazy Eddie’s sales decline, resulting in a tumbling stock price.\nAntar announced his resignation in December 1986, but four months later he shocked shareholders by revealing he never stepped down — and while still at the helm, he sold off his shares in the company, gaining about $30 million in the transaction.\nThe company had begun planning to go private when an outside investor group successfully agitated to take over what they believed to be a struggling but respectable company. But when their auditors came in, they were flabbergasted to find grossly exaggerated inventories of up to $28 million, $20 million in phony debit memos to vendors and sales reports that were closer to fiction than accountancy.\nThe chain went bankrupt in 1989 and was forced to shut down its retail network. Federal and state investigations overwhelmed what remained of the Crazy Eddie and Antar was hit with an endless flurry of lawsuits.\n\"By any measure, this is a staggering securities fraud,\" saidMichael Chertoff, the U.S. Attorney for New Jersey, who accused the Antars of creating \"a giant bubble\" rather than a successful business.\nBy 1990, Antar disappeared after failing to appear at a court hearing. He obtained a phony U.S. passport issued to “Harry Page Shalom” and left the country. After a two-year global search, he was located in 1992 in a Tel Aviv suburb living under the name Alexander Stewart.\nAntar was brought back to the U.S. to find his cousin Sam Antar had taken a plea deal with federal prosecutors and agreed to testify against him in court.\n“There’s no better motivator than a 20-year prison term,” Sam Antar stated. “I didn’t cooperate because I found God. I cooperated to save my ass.”\nIn July 2013, Antar was found guilty of 17 counts of fraud and sentenced to 12½ years in prison. Two years later, his verdicts were overturned on appeal.\nRather than face the stress of another trial, Antar pleaded guilty to federal fraud charges in May 1996 and was sentenced in 1997 to eight years in prison.\nThe Legend Lives On:Antar was released after four years in prison and federal law enforcement officials managed to find more than $120 million from his offshore bank accounts, which was repaid to investors.\nSeveral attempts occurred over the subsequent years to revive the Crazy Eddie brand, first as a brick-and-mortar retailer and then as an e-commerce venture, but all of these efforts failed.\nIn June 2019,Jon Turteltaub, the director of the “National Treasure” film franchise, announced plans to make a biopic about Antar. But that project has yet to come to life.\nMany of the Crazy Eddie commercials can be found on YouTube, and marketing experts consider them to be among the most imaginative and successful examples of television advertising.\nAntar stayed out of the public light after leaving prison and died of complications from liver cancer on Sept. 10, 2016. He never publicly spoke about his past, although in a brief late-life exchange with a Newark Star-Ledger reporter he acknowledged the unique impact he had on retailing.\n“Everybody knows Crazy Eddie,” he said. “What can I tell you? I changed the business. I changed the whole business.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":987,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126584993,"gmtCreate":1624578902012,"gmtModify":1703840676848,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126584993","repostId":"2146002655","repostType":4,"repost":{"id":"2146002655","kind":"highlight","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":1624576043,"share":"https://ttm.financial/m/news/2146002655?lang=&edition=fundamental","pubTime":"2021-06-25 07:07","market":"us","language":"en","title":"Panasonic sold its entire stake in Tesla last fiscal year - Nikkei","url":"https://stock-news.laohu8.com/highlight/detail?id=2146002655","media":"Reuters","summary":"TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal yea","content":"<p>TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nPanasonic sold its entire stake in Tesla last fiscal year - Nikkei\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\">2021-06-25 07:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PCRFY":"松下"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146002655","content_text":"TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.","news_type":1,"symbols_score_info":{"PCRFY":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166701720,"gmtCreate":1624024264660,"gmtModify":1703826878369,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"Good insight","listText":"Good insight","text":"Good insight","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166701720","repostId":"2144779308","repostType":4,"isVote":1,"tweetType":1,"viewCount":532,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169822788,"gmtCreate":1623829012744,"gmtModify":1703820706571,"author":{"id":"3578952819778047","authorId":"3578952819778047","name":"joannec","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3578952819778047","authorIdStr":"3578952819778047"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AGS.SI\">$THE HOUR GLASS LIMITED(AGS.SI)$</a> recovering with covid improvement. Consumers starting to buy again","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AGS.SI\">$THE HOUR GLASS LIMITED(AGS.SI)$</a> recovering with covid improvement. Consumers starting to buy again","text":"$THE HOUR GLASS LIMITED(AGS.SI)$ recovering with covid improvement. Consumers starting to buy again","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/169822788","isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}