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2021-08-25

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2021-08-21

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2021-07-10

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Where Will Apple Stock Be In 5 Years? Know When To Hold 'Em And When To Fold 'Em

2021-07-09

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2021-07-08

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2021-06-29

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2021-06-21

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2021-06-20

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2021-06-19

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2021-06-18

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2021-06-17

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Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.

2021-06-16

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Wall Street ends down as data spooks investors awaiting Fed report

2021-06-15

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Crypto sees 2nd week of outflows; ether posts record outflows -CoinShares

2021-06-13

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2021-06-13

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Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays

2021-06-11

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2021-06-10

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2021-06-08

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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/836519561","repostId":"2160710721","repostType":4,"isVote":1,"tweetType":1,"viewCount":2342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141249052,"gmtCreate":1625877053376,"gmtModify":1703750204977,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"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/141249052","repostId":"1123154925","repostType":4,"repost":{"id":"1123154925","kind":"news","pubTimestamp":1625874896,"share":"https://ttm.financial/m/news/1123154925?lang=&edition=fundamental","pubTime":"2021-07-10 07:54","market":"us","language":"en","title":"Where Will Apple Stock Be In 5 Years? Know When To Hold 'Em And When To Fold 'Em","url":"https://stock-news.laohu8.com/highlight/detail?id=1123154925","media":"seekingalpha","summary":"Summary\n\nApple's business is healthy and should continue to perform well, but the current valuation ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Apple's business is healthy and should continue to perform well, but the current valuation is inflated. This is likely to cap your long-term upside.</li>\n <li>Mega-cap tech continues to rally as money flows in, leading to easy profits for momentum traders.</li>\n <li>I've made more money on Apple than any other stock over the years, but the current rise in the stock is being mostly driven by speculation and not business fundamentals.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bc314a9642dcb39eea1642683ec2058d\" tg-width=\"1536\" tg-height=\"1024\"><span>Justin Sullivan/Getty Images News</span></p>\n<p>Apple has been good to me over the years. I made the biggest trade of my life as a freshman at the University of Miami, making a large bet on Apple (AAPL) call options before quarterly earnings in January 2015. Everyone-and I mean everyone-was buying the new iPhone 6 at the time, but Wall Street wasn't as positive on Apple. Some guys writing on<i>Seeking Alpha</i>were big on the Apple trade as well-in contrast to sell-side analysts who got it wrong focusing on meaningless metrics like iPad sales. This was before Robinhood and the rise of WallStreetBets, so trading options wasn't nearly as mainstream as it is now, although wanting to impress a cute girl from New York was a factor in the aggressive sizing of the trade.</p>\n<p>AAPL ended up beating earnings estimates by one of the largest margins in its history&nbsp;If you buy cheap stocks that are going up and sell expensive stocks that are going down then you'll find that you'll get \"lucky\" more often than not. To this day, Apple stock and options remain the biggest contributor to my lifetime trading profits, and I love the company for its growth and cash flow. However, as time has passed over the last 6 years, AAPL stock went from dirt cheap to extremely expensive. If you buy Apple today, you still get the same great business, but the valuation is severely capping your upside as the stock has outrun the business fundamentals. I'd like to do some of the same analysis I did in making that trade to show why today's Apple is not the same stock as the one I bet on 6 years ago. To paraphrase Kenny Rogers, you've got to know when to hold and when to fold.</p>\n<p><b>Is Apple a Good Long-Term Stock?</b></p>\n<p>Apple has historically been a great long-term stock due to being a great business and the behavioral bias of&nbsp;disposition effect selling. Back when I made my Apple trade, I sketched out the thesis for Apple on the back of a napkin. Apple was selling tons of iPhones, the stock traded for like 13x earnings, and the company had a ton of offshore cash that they could borrow against to endlessly buy back the stock (they successfully have bought back&nbsp;nearly 40 percent of the company&nbsp;since Tim Cook started). Apple additionally had an arbitrage play with the offshore cash as the investment income they got off it was the same or higher than the interest on their own debt. EPS had nowhere to go but up.</p>\n<p>Today it's not so clear. Apple trades for&nbsp;27x 2021&nbsp;earnings while analysts only expect EPS growth in the 5 percent range going forward. The Trump Administration freed Big Tech's offshore cash hoard, and Apple's secret weapon of buybacks isn't as effective with the stock at nearly 30x earnings. Apple additionally got a one-time boost in net income from the corporate tax cut, which is now fully priced into the stock. If you owned Apple before you get the same great business, but the stock is completely different. I noted in my original trade that the sell-side analysts were wrong. They're likely to be wrong again on the low side because of Apple's mastery of sandbagging, but the market set the bar so high for Apple that the error traders may now be making is expecting too much future growth.</p>\n<p>Apple has always been a product-cycle-driven company. One reason that Apple today trades for a higher multiple is that they have figured out how to generate recurring revenue from services. For example, it's estimated that Google (GOOG) pays Apple over&nbsp;$1 billion per month&nbsp;for the right to be the default search engine on iPhones. Apple also takes a cut of App Stores purchases, charges for data storage, music streaming, and other services. Service revenue has a&nbsp;70 percent gross margin, compared with ~35-37 percent on Apple's other products.</p>\n<p>Here you can see that services are making up an increasing amount of Apple's revenue. Note that services will make up a lower percentage of revenue in holiday quarters when retail sales are higher. For FY '21, services are expected to make up around 19 percent of Apple's revenue.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cefa8ccf09cb41c0e91cf28875a99dde\" tg-width=\"640\" tg-height=\"401\"><span>Source: Statista</span></p>\n<p>Apple's service revenue is likely to drive nearly all of the growth in Apple earnings. Thankfully for bulls, services revenue could plausibly double in the next 5 years. The growth isn't a given, especially if regulators push back against Apple's somewhat monopolistic position with its App Store and against the escalating payments they demand from other tech companies for access to Apple's closed ecosystem. Consensus analyst earnings estimates only go out to 2023 for Apple, so we have to make some educated guesses about earnings. I believe the analyst earnings estimates are again too low for Apple. Service revenue should double in 5 years and take up a greater and greater share of earnings, while iPhone revenue has not shown a track record of consistently growing over the past few years.</p>\n<p><b>Where Will Apple Stock Be in 5 Years?</b></p>\n<p>The quickest way for me to value Apple is to adjust analyst earnings estimates for sandbagging and then make some quick growth assumptions to get 2026 earnings. Apple beats analyst earnings estimates somewhere around&nbsp;90 percent of the time historically, so we have to adjust for analysts being lazy. I'm going to assume that analysts are 10 percent low for FY 2022 (analysts expect $5.30 in earnings) and then a little low on forward growth assumptions due to services growth (analysts expect around 5 percent EPS growth from Apple going forward, I'll go with 7 percent). This gets me an earnings estimate of $7.60 for 2026. Putting a 25x multiple on Apple gets a price target of $190 for AAPL in 2026. At today's price of over $143 as of writing this, this is roughly a 6.5 percent annual return for Apple shareholders, plus the 0.6 percent dividend for a total return of 7.1 percent. This is after adjusting analyst numbers to the upside and assuming the P/E multiple stays historically high but contracts slightly. Any corporate income tax hikes would lower this price target slightly. Should Apple trade more in line with historical valuations, the result would almost certainly be painful for shareholders.</p>\n<p>If you're a big Apple bull and you're reading this, you shouldn't be surprised. Apple stock has nearly doubled since the start of the coronavirus pandemic, and while the underlying business has done well, it isn't anywhere near twice as good. This naturally caps the upside for Apple shareholders. The last time I ran my S&amp;P 500 model, I modeled S&amp;P 500 (SPY) returns of between&nbsp;8.2 percent annually and 8.7 percent annually. With the market up even more since I ran my last numbers, I believe that the expected return to index fund holders is now likely on the low end of my previous range. It's completely natural for the largest components in the index to be slightly overvalued compared to the rest of the market due to their popularity, and my intuition seems to be confirmed here with Apple and most other large-cap tech stocks I've analyzed.</p>\n<p><b>Is AAPL a Good Buy Now?</b></p>\n<p>Apple would need a substantial pullback before I would consider the stock a good buy. The last time I covered Apple, I suggested buying Apple on any pullback to 20x earnings, which would now imply buying a dip to the $110 to $115 range-possibly closer to $100 in a broader market downturn. The history of Apple stock is full of booms and busts- your patience is likely to be eventually rewarded. If you own highly appreciated Apple stock I would consider taking advantage of current prices to take some profits. While you can always make money trading NASDAQ stocks on momentum, I just don't see business fundamentals justifying paying up for Apple here. Either the business will need to catch up while the stock stays flat, or the stock will need to fall for Apple to converge with fair value here.</p>\n<p>Anything is possible, but I find that AAPL is a little overvalued compared with the market as a whole, and as such, shareholders should lower their expectations going forward. Today's Apple is not the same stock as yesterday's Apple, and the current fundamentals warrant waiting for a dip.</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>Where Will Apple Stock Be In 5 Years? Know When To Hold 'Em And When To Fold 'Em</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\">\nWhere Will Apple Stock Be In 5 Years? Know When To Hold 'Em And When To Fold 'Em\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 07:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4438479-apple-stock-5-years><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nApple's business is healthy and should continue to perform well, but the current valuation is inflated. This is likely to cap your long-term upside.\nMega-cap tech continues to rally as money ...</p>\n\n<a href=\"https://seekingalpha.com/article/4438479-apple-stock-5-years\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4438479-apple-stock-5-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123154925","content_text":"Summary\n\nApple's business is healthy and should continue to perform well, but the current valuation is inflated. This is likely to cap your long-term upside.\nMega-cap tech continues to rally as money flows in, leading to easy profits for momentum traders.\nI've made more money on Apple than any other stock over the years, but the current rise in the stock is being mostly driven by speculation and not business fundamentals.\n\nJustin Sullivan/Getty Images News\nApple has been good to me over the years. I made the biggest trade of my life as a freshman at the University of Miami, making a large bet on Apple (AAPL) call options before quarterly earnings in January 2015. Everyone-and I mean everyone-was buying the new iPhone 6 at the time, but Wall Street wasn't as positive on Apple. Some guys writing onSeeking Alphawere big on the Apple trade as well-in contrast to sell-side analysts who got it wrong focusing on meaningless metrics like iPad sales. This was before Robinhood and the rise of WallStreetBets, so trading options wasn't nearly as mainstream as it is now, although wanting to impress a cute girl from New York was a factor in the aggressive sizing of the trade.\nAAPL ended up beating earnings estimates by one of the largest margins in its history If you buy cheap stocks that are going up and sell expensive stocks that are going down then you'll find that you'll get \"lucky\" more often than not. To this day, Apple stock and options remain the biggest contributor to my lifetime trading profits, and I love the company for its growth and cash flow. However, as time has passed over the last 6 years, AAPL stock went from dirt cheap to extremely expensive. If you buy Apple today, you still get the same great business, but the valuation is severely capping your upside as the stock has outrun the business fundamentals. I'd like to do some of the same analysis I did in making that trade to show why today's Apple is not the same stock as the one I bet on 6 years ago. To paraphrase Kenny Rogers, you've got to know when to hold and when to fold.\nIs Apple a Good Long-Term Stock?\nApple has historically been a great long-term stock due to being a great business and the behavioral bias of disposition effect selling. Back when I made my Apple trade, I sketched out the thesis for Apple on the back of a napkin. Apple was selling tons of iPhones, the stock traded for like 13x earnings, and the company had a ton of offshore cash that they could borrow against to endlessly buy back the stock (they successfully have bought back nearly 40 percent of the company since Tim Cook started). Apple additionally had an arbitrage play with the offshore cash as the investment income they got off it was the same or higher than the interest on their own debt. EPS had nowhere to go but up.\nToday it's not so clear. Apple trades for 27x 2021 earnings while analysts only expect EPS growth in the 5 percent range going forward. The Trump Administration freed Big Tech's offshore cash hoard, and Apple's secret weapon of buybacks isn't as effective with the stock at nearly 30x earnings. Apple additionally got a one-time boost in net income from the corporate tax cut, which is now fully priced into the stock. If you owned Apple before you get the same great business, but the stock is completely different. I noted in my original trade that the sell-side analysts were wrong. They're likely to be wrong again on the low side because of Apple's mastery of sandbagging, but the market set the bar so high for Apple that the error traders may now be making is expecting too much future growth.\nApple has always been a product-cycle-driven company. One reason that Apple today trades for a higher multiple is that they have figured out how to generate recurring revenue from services. For example, it's estimated that Google (GOOG) pays Apple over $1 billion per month for the right to be the default search engine on iPhones. Apple also takes a cut of App Stores purchases, charges for data storage, music streaming, and other services. Service revenue has a 70 percent gross margin, compared with ~35-37 percent on Apple's other products.\nHere you can see that services are making up an increasing amount of Apple's revenue. Note that services will make up a lower percentage of revenue in holiday quarters when retail sales are higher. For FY '21, services are expected to make up around 19 percent of Apple's revenue.\nSource: Statista\nApple's service revenue is likely to drive nearly all of the growth in Apple earnings. Thankfully for bulls, services revenue could plausibly double in the next 5 years. The growth isn't a given, especially if regulators push back against Apple's somewhat monopolistic position with its App Store and against the escalating payments they demand from other tech companies for access to Apple's closed ecosystem. Consensus analyst earnings estimates only go out to 2023 for Apple, so we have to make some educated guesses about earnings. I believe the analyst earnings estimates are again too low for Apple. Service revenue should double in 5 years and take up a greater and greater share of earnings, while iPhone revenue has not shown a track record of consistently growing over the past few years.\nWhere Will Apple Stock Be in 5 Years?\nThe quickest way for me to value Apple is to adjust analyst earnings estimates for sandbagging and then make some quick growth assumptions to get 2026 earnings. Apple beats analyst earnings estimates somewhere around 90 percent of the time historically, so we have to adjust for analysts being lazy. I'm going to assume that analysts are 10 percent low for FY 2022 (analysts expect $5.30 in earnings) and then a little low on forward growth assumptions due to services growth (analysts expect around 5 percent EPS growth from Apple going forward, I'll go with 7 percent). This gets me an earnings estimate of $7.60 for 2026. Putting a 25x multiple on Apple gets a price target of $190 for AAPL in 2026. At today's price of over $143 as of writing this, this is roughly a 6.5 percent annual return for Apple shareholders, plus the 0.6 percent dividend for a total return of 7.1 percent. This is after adjusting analyst numbers to the upside and assuming the P/E multiple stays historically high but contracts slightly. Any corporate income tax hikes would lower this price target slightly. Should Apple trade more in line with historical valuations, the result would almost certainly be painful for shareholders.\nIf you're a big Apple bull and you're reading this, you shouldn't be surprised. Apple stock has nearly doubled since the start of the coronavirus pandemic, and while the underlying business has done well, it isn't anywhere near twice as good. This naturally caps the upside for Apple shareholders. The last time I ran my S&P 500 model, I modeled S&P 500 (SPY) returns of between 8.2 percent annually and 8.7 percent annually. With the market up even more since I ran my last numbers, I believe that the expected return to index fund holders is now likely on the low end of my previous range. It's completely natural for the largest components in the index to be slightly overvalued compared to the rest of the market due to their popularity, and my intuition seems to be confirmed here with Apple and most other large-cap tech stocks I've analyzed.\nIs AAPL a Good Buy Now?\nApple would need a substantial pullback before I would consider the stock a good buy. The last time I covered Apple, I suggested buying Apple on any pullback to 20x earnings, which would now imply buying a dip to the $110 to $115 range-possibly closer to $100 in a broader market downturn. The history of Apple stock is full of booms and busts- your patience is likely to be eventually rewarded. If you own highly appreciated Apple stock I would consider taking advantage of current prices to take some profits. While you can always make money trading NASDAQ stocks on momentum, I just don't see business fundamentals justifying paying up for Apple here. Either the business will need to catch up while the stock stays flat, or the stock will need to fall for Apple to converge with fair value here.\nAnything is possible, but I find that AAPL is a little overvalued compared with the market as a whole, and as such, shareholders should lower their expectations going forward. Today's Apple is not the same stock as yesterday's Apple, and the current fundamentals warrant waiting for a dip.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2797,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143162907,"gmtCreate":1625782809709,"gmtModify":1703748293570,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good 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read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150254407","repostId":"1143737614","repostType":4,"isVote":1,"tweetType":1,"viewCount":2793,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164562129,"gmtCreate":1624230416161,"gmtModify":1703830823496,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164562129","repostId":"2145070281","repostType":2,"isVote":1,"tweetType":1,"viewCount":2205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164301356,"gmtCreate":1624169413975,"gmtModify":1703830071699,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/164301356","repostId":"1126454279","repostType":4,"isVote":1,"tweetType":1,"viewCount":2744,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162777890,"gmtCreate":1624078407810,"gmtModify":1703828411259,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good reac","listText":"Good reac","text":"Good reac","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/162777890","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":2283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168800051,"gmtCreate":1623969390973,"gmtModify":1703824773723,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/168800051","repostId":"1108846547","repostType":4,"isVote":1,"tweetType":1,"viewCount":3608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163668143,"gmtCreate":1623883456182,"gmtModify":1703822209320,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163668143","repostId":"1170150919","repostType":4,"repost":{"id":"1170150919","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":1623866564,"share":"https://ttm.financial/m/news/1170150919?lang=&edition=fundamental","pubTime":"2021-06-17 02:02","market":"other","language":"en","title":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170150919","media":"Tiger Newspress","summary":"U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.The Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.Nine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and finan","content":"<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p>\n<p>U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p>\n<p>The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p>\n<p>Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p>\n<p>Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p>\n<p>The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p>\n<p>The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p>\n<p>Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p>\n<p>The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p>\n<p>The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p>\n<p>\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p>\n<p>Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p>\n<p>\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p>\n<p>On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</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>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</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\">\nFed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.\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\">2021-06-17 02:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p>\n<p>U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p>\n<p>The Dow Jones Industrial Average fell 320 points. The S&amp;P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p>\n<p>Nine out of 11 S&amp;P 500 sectors traded in the red, led to the downside by communication services and financials.</p>\n<p>Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p>\n<p>The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p>\n<p>The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p>\n<p>Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p>\n<p>The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p>\n<p>The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p>\n<p>\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p>\n<p>Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p>\n<p>\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p>\n<p>On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170150919","content_text":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.\nU.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.\nThe Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.\nNine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and financials.\nEconomic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.\nThe policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.\nThe Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"\nChairman Jerome Powell will hold a press conference at 2:30 p.m. ET.\nThe meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.\nThe central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.\n\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"\nTreasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.\n\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"\nOn Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160540171,"gmtCreate":1623802906893,"gmtModify":1703819759568,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/160540171","repostId":"2143680537","repostType":4,"repost":{"id":"2143680537","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":1623797252,"share":"https://ttm.financial/m/news/2143680537?lang=&edition=fundamental","pubTime":"2021-06-16 06:47","market":"us","language":"en","title":"Wall Street ends down as data spooks investors awaiting Fed report","url":"https://stock-news.laohu8.com/highlight/detail?id=2143680537","media":"Reuters","summary":"Wall Street’s main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting.Assurance from the Fed that rising prices are transitory and falling U.S. Treasury yields have helped ease some concerns over inflation and supported U.S. stocks in recent weeks. All eyes are now on the central bank’s statement at the end of its two-day policy meeting on Wedn","content":"<p>Wall Street’s main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting.</p>\n<p>Assurance from the Fed that rising prices are transitory and falling U.S. Treasury yields have helped ease some concerns over inflation and supported U.S. stocks in recent weeks. All eyes are now on the central bank’s statement at the end of its two-day policy meeting on Wednesday.</p>\n<p>Data showed an acceleration in producer prices last month as supply chains struggled to meet demand unleashed by the reopening of the economy. A separate report showed U.S. retail sales dropped more than expected in May.</p>\n<p>“There was a bit of a reaction to the economic data we got, which, for the most part, shows that the economy is starting to wean itself off stimulus, the recovery is slowing down a little, and inflation is continuing to grow,” said Ed Moya, senior market analyst for the Americas at OANDA.</p>\n<p>“We’re seeing some very modest weakness, and it’ll be choppy leading up to the Fed decision. Right now, the Fed is probably in a position to show they are thinking about tapering, but they’re still a long way from actually doing it.”</p>\n<p>The Fed is likely to announce in August or September a strategy for reducing its massive bond buying program, but will not start cutting monthly purchases until early next year, a Reuters poll of economists found.</p>\n<p>The benchmark S&amp;P 500, the blue-chip Dow Jones and the tech-focused Nasdaq have risen 13%, 12.1% and 9.2% respectively so far this year, largely driven by optimism about an economic reopening.</p>\n<p>However, the S&amp;P 500 has been broadly stuck within a range, despite recording its 29th record-high finish of 2021 on Monday, versus 33 for all of last year.</p>\n<p>The Dow Jones Industrial Average fell 94.42 points, or 0.27%, to 34,299.33, the S&amp;P 500 lost 8.56 points, or 0.20%, to 4,246.59 and the Nasdaq Composite dropped 101.29 points, or 0.71%, to 14,072.86.</p>\n<p>Seven of the 11 major S&amp;P sectors slipped. Among them was communication services, which ended 0.5% lower, having hit a record intraday high earlier in the session.</p>\n<p>The largest gainer was the energy index, which rose 2.1% on oil prices hitting multi-year highs on a positive demand outlook. Exxon Mobil Corp had its best day since Mar. 5, jumping 3.6%. [O/R]</p>\n<p>In corporate news, Boeing Co gained 0.6% after the United States and the European Union agreed on a truce in their 17-year conflict over aircraft subsidies involving the planemaker and its rival Airbus.</p>\n<p>Having slumped 19% on Monday, Lordstown Motors Corp shares rebounded 11.3% after comments from the electric truck manufacturer’s president on orders.</p>\n<p>Volume on U.S. exchanges was 9.98 billion shares, compared with the 10.58 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 87 new highs and 21 new lows.</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>Wall Street ends down as data spooks investors awaiting Fed report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street ends down as data spooks investors awaiting Fed report\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\">2021-06-16 06:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Wall Street’s main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting.</p>\n<p>Assurance from the Fed that rising prices are transitory and falling U.S. Treasury yields have helped ease some concerns over inflation and supported U.S. stocks in recent weeks. All eyes are now on the central bank’s statement at the end of its two-day policy meeting on Wednesday.</p>\n<p>Data showed an acceleration in producer prices last month as supply chains struggled to meet demand unleashed by the reopening of the economy. A separate report showed U.S. retail sales dropped more than expected in May.</p>\n<p>“There was a bit of a reaction to the economic data we got, which, for the most part, shows that the economy is starting to wean itself off stimulus, the recovery is slowing down a little, and inflation is continuing to grow,” said Ed Moya, senior market analyst for the Americas at OANDA.</p>\n<p>“We’re seeing some very modest weakness, and it’ll be choppy leading up to the Fed decision. Right now, the Fed is probably in a position to show they are thinking about tapering, but they’re still a long way from actually doing it.”</p>\n<p>The Fed is likely to announce in August or September a strategy for reducing its massive bond buying program, but will not start cutting monthly purchases until early next year, a Reuters poll of economists found.</p>\n<p>The benchmark S&amp;P 500, the blue-chip Dow Jones and the tech-focused Nasdaq have risen 13%, 12.1% and 9.2% respectively so far this year, largely driven by optimism about an economic reopening.</p>\n<p>However, the S&amp;P 500 has been broadly stuck within a range, despite recording its 29th record-high finish of 2021 on Monday, versus 33 for all of last year.</p>\n<p>The Dow Jones Industrial Average fell 94.42 points, or 0.27%, to 34,299.33, the S&amp;P 500 lost 8.56 points, or 0.20%, to 4,246.59 and the Nasdaq Composite dropped 101.29 points, or 0.71%, to 14,072.86.</p>\n<p>Seven of the 11 major S&amp;P sectors slipped. Among them was communication services, which ended 0.5% lower, having hit a record intraday high earlier in the session.</p>\n<p>The largest gainer was the energy index, which rose 2.1% on oil prices hitting multi-year highs on a positive demand outlook. Exxon Mobil Corp had its best day since Mar. 5, jumping 3.6%. [O/R]</p>\n<p>In corporate news, Boeing Co gained 0.6% after the United States and the European Union agreed on a truce in their 17-year conflict over aircraft subsidies involving the planemaker and its rival Airbus.</p>\n<p>Having slumped 19% on Monday, Lordstown Motors Corp shares rebounded 11.3% after comments from the electric truck manufacturer’s president on orders.</p>\n<p>Volume on U.S. exchanges was 9.98 billion shares, compared with the 10.58 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 87 new highs and 21 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DXD":"两倍做空道琼30指数ETF-ProShares","DJX":"1/100道琼斯","DDM":"2倍做多道指ETF-ProShares","OEX":"标普100","SDOW":"三倍做空道指30ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares","DOG":"道指ETF-ProShares做空","UPRO":"三倍做多标普500ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","BA":"波音","TQQQ":"纳指三倍做多ETF",".SPX":"S&P 500 Index","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF","SQQQ":"纳指三倍做空ETF","OEF":"标普100指数ETF-iShares","IVV":"标普500ETF-iShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","SH":"做空标普500-Proshares","SSO":"2倍做多标普500ETF-ProShares"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143680537","content_text":"Wall Street’s main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting.\nAssurance from the Fed that rising prices are transitory and falling U.S. Treasury yields have helped ease some concerns over inflation and supported U.S. stocks in recent weeks. All eyes are now on the central bank’s statement at the end of its two-day policy meeting on Wednesday.\nData showed an acceleration in producer prices last month as supply chains struggled to meet demand unleashed by the reopening of the economy. A separate report showed U.S. retail sales dropped more than expected in May.\n“There was a bit of a reaction to the economic data we got, which, for the most part, shows that the economy is starting to wean itself off stimulus, the recovery is slowing down a little, and inflation is continuing to grow,” said Ed Moya, senior market analyst for the Americas at OANDA.\n“We’re seeing some very modest weakness, and it’ll be choppy leading up to the Fed decision. Right now, the Fed is probably in a position to show they are thinking about tapering, but they’re still a long way from actually doing it.”\nThe Fed is likely to announce in August or September a strategy for reducing its massive bond buying program, but will not start cutting monthly purchases until early next year, a Reuters poll of economists found.\nThe benchmark S&P 500, the blue-chip Dow Jones and the tech-focused Nasdaq have risen 13%, 12.1% and 9.2% respectively so far this year, largely driven by optimism about an economic reopening.\nHowever, the S&P 500 has been broadly stuck within a range, despite recording its 29th record-high finish of 2021 on Monday, versus 33 for all of last year.\nThe Dow Jones Industrial Average fell 94.42 points, or 0.27%, to 34,299.33, the S&P 500 lost 8.56 points, or 0.20%, to 4,246.59 and the Nasdaq Composite dropped 101.29 points, or 0.71%, to 14,072.86.\nSeven of the 11 major S&P sectors slipped. Among them was communication services, which ended 0.5% lower, having hit a record intraday high earlier in the session.\nThe largest gainer was the energy index, which rose 2.1% on oil prices hitting multi-year highs on a positive demand outlook. Exxon Mobil Corp had its best day since Mar. 5, jumping 3.6%. [O/R]\nIn corporate news, Boeing Co gained 0.6% after the United States and the European Union agreed on a truce in their 17-year conflict over aircraft subsidies involving the planemaker and its rival Airbus.\nHaving slumped 19% on Monday, Lordstown Motors Corp shares rebounded 11.3% after comments from the electric truck manufacturer’s president on orders.\nVolume on U.S. exchanges was 9.98 billion shares, compared with the 10.58 billion average over the last 20 trading days.\nThe S&P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 87 new highs and 21 new lows.","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"ESmain":0.9,"SSO":0.9,"SH":0.9,"TQQQ":0.9,"DJX":0.9,"MNQmain":0.9,"DDM":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"OEX":0.9,"SDS":0.9,"DOG":0.9,"SDOW":0.9,".DJI":0.9,"QQQ":0.9,".IXIC":0.9,"UPRO":0.9,"QLD":0.9,"BA":0.9,"SQQQ":0.9,"DXD":0.9,".SPX":0.9,"SPXU":0.9,"UDOW":0.9,"PSQ":0.9,"NQmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1052,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184639165,"gmtCreate":1623712190757,"gmtModify":1704209086592,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/184639165","repostId":"2143735525","repostType":4,"repost":{"id":"2143735525","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":1623705673,"share":"https://ttm.financial/m/news/2143735525?lang=&edition=fundamental","pubTime":"2021-06-15 05:21","market":"fut","language":"en","title":"Crypto sees 2nd week of outflows; ether posts record outflows -CoinShares","url":"https://stock-news.laohu8.com/highlight/detail?id=2143735525","media":"Reuters","summary":"NEW YORK, June 14 (Reuters) - Cryptocurrency investment products and funds saw outflows for a second","content":"<p>NEW YORK, June 14 (Reuters) - Cryptocurrency investment products and funds saw outflows for a second straight week, with ether posting record outflows as institutional investors took a step back, data from digital asset manager CoinShares showed on Monday.</p>\n<p>Total crypto ouflows hit $21 million for the week ending June 11. Since mid-May, total outflows reached $267 million, representing 0.6% of total assets under management (AUM).</p>\n<p>Ether, the token used in the Ethereum blockchain, posted its largest outflow last week of $12.7 million, data showed. The token has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the strongest performers this year.</p>\n<p>But CoinShares said ether inflows last week were mixed, \"implying mixed opinions among investors.\"</p>\n<p>Ether was last up 1% on the day at $2,536. Since hitting a record $4,380.64 on May 12, ether has fallen 40%.</p>\n<p>The outflows in bitcoin cooled last week to $10 million, significantly lower than the previous record week of $141 million, CoinShares data showed. Trading activity in bitcoin products rose 43% from the previous week.</p>\n<p>Bitcoin rose above $40,000 on Monday following tweets from Tesla boss Elon Musk, who said Tesla sold the currency but may resume transactions using it.It was last up 1.8% at $39,686.</p>\n<p>While bitcoin is currently trading 36% below its 11-year exponential trend, Dan Morehead, co-chief investment officer at Pantera Capital, said in his Blockchain Letter on Monday that investors should resist the urge to close positions and instead go the other way if they have the emotional and financial resources to do so.</p>\n<p>\"Bitcoin generally goes way up...Anyone that has held bitcoin for 3.25 years has made money,\" said Morehead.</p>\n<p>Grayscale, the largest digital currency manager, raised its AUM to $33.04 billion last week, from $30.3 billion the previous week.</p>\n<p>CoinShares, the second biggest digital asset manager, saw AUM slip to $3.8 billion, from nearly $4 billion the week before.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto sees 2nd week of outflows; ether posts record outflows -CoinShares</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto sees 2nd week of outflows; ether posts record outflows -CoinShares\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\">2021-06-15 05:21</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, June 14 (Reuters) - Cryptocurrency investment products and funds saw outflows for a second straight week, with ether posting record outflows as institutional investors took a step back, data from digital asset manager CoinShares showed on Monday.</p>\n<p>Total crypto ouflows hit $21 million for the week ending June 11. Since mid-May, total outflows reached $267 million, representing 0.6% of total assets under management (AUM).</p>\n<p>Ether, the token used in the Ethereum blockchain, posted its largest outflow last week of $12.7 million, data showed. The token has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the strongest performers this year.</p>\n<p>But CoinShares said ether inflows last week were mixed, \"implying mixed opinions among investors.\"</p>\n<p>Ether was last up 1% on the day at $2,536. Since hitting a record $4,380.64 on May 12, ether has fallen 40%.</p>\n<p>The outflows in bitcoin cooled last week to $10 million, significantly lower than the previous record week of $141 million, CoinShares data showed. Trading activity in bitcoin products rose 43% from the previous week.</p>\n<p>Bitcoin rose above $40,000 on Monday following tweets from Tesla boss Elon Musk, who said Tesla sold the currency but may resume transactions using it.It was last up 1.8% at $39,686.</p>\n<p>While bitcoin is currently trading 36% below its 11-year exponential trend, Dan Morehead, co-chief investment officer at Pantera Capital, said in his Blockchain Letter on Monday that investors should resist the urge to close positions and instead go the other way if they have the emotional and financial resources to do so.</p>\n<p>\"Bitcoin generally goes way up...Anyone that has held bitcoin for 3.25 years has made money,\" said Morehead.</p>\n<p>Grayscale, the largest digital currency manager, raised its AUM to $33.04 billion last week, from $30.3 billion the previous week.</p>\n<p>CoinShares, the second biggest digital asset manager, saw AUM slip to $3.8 billion, from nearly $4 billion the week before.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"比特币ETF-Grayscale"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143735525","content_text":"NEW YORK, June 14 (Reuters) - Cryptocurrency investment products and funds saw outflows for a second straight week, with ether posting record outflows as institutional investors took a step back, data from digital asset manager CoinShares showed on Monday.\nTotal crypto ouflows hit $21 million for the week ending June 11. Since mid-May, total outflows reached $267 million, representing 0.6% of total assets under management (AUM).\nEther, the token used in the Ethereum blockchain, posted its largest outflow last week of $12.7 million, data showed. The token has been one of the strongest performers this year.\nBut CoinShares said ether inflows last week were mixed, \"implying mixed opinions among investors.\"\nEther was last up 1% on the day at $2,536. Since hitting a record $4,380.64 on May 12, ether has fallen 40%.\nThe outflows in bitcoin cooled last week to $10 million, significantly lower than the previous record week of $141 million, CoinShares data showed. Trading activity in bitcoin products rose 43% from the previous week.\nBitcoin rose above $40,000 on Monday following tweets from Tesla boss Elon Musk, who said Tesla sold the currency but may resume transactions using it.It was last up 1.8% at $39,686.\nWhile bitcoin is currently trading 36% below its 11-year exponential trend, Dan Morehead, co-chief investment officer at Pantera Capital, said in his Blockchain Letter on Monday that investors should resist the urge to close positions and instead go the other way if they have the emotional and financial resources to do so.\n\"Bitcoin generally goes way up...Anyone that has held bitcoin for 3.25 years has made money,\" said Morehead.\nGrayscale, the largest digital currency manager, raised its AUM to $33.04 billion last week, from $30.3 billion the previous week.\nCoinShares, the second biggest digital asset manager, saw AUM slip to $3.8 billion, from nearly $4 billion the week before.","news_type":1,"symbols_score_info":{"MBTmain":0.9,"GBTC":0.9,"BTCmain":0.9,"XBTmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182003701,"gmtCreate":1623545407803,"gmtModify":1704205674474,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/182003701","repostId":"2143788707","repostType":4,"isVote":1,"tweetType":1,"viewCount":1236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182000224,"gmtCreate":1623545323368,"gmtModify":1704205670887,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/182000224","repostId":"1185020128","repostType":4,"repost":{"id":"1185020128","kind":"news","pubTimestamp":1623537503,"share":"https://ttm.financial/m/news/1185020128?lang=&edition=fundamental","pubTime":"2021-06-13 06:38","market":"us","language":"en","title":"Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays","url":"https://stock-news.laohu8.com/highlight/detail?id=1185020128","media":"investors","summary":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ","content":"<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p>\n<p>The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p>\n<p>That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p>\n<p>Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p>\n<p>SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p>\n<p><b>GameStop Stock Leads</b></p>\n<p><b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p>\n<p><b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p>\n<p>GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p>\n<p>Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p>\n<p>Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p>\n<p><b>Second Meme Stock In Top 10</b></p>\n<p>PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p>\n<p>Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p>\n<p>But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p>\n<p>The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p>\n<p>SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p>","source":"lsy1610449120050","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays</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\">\nMeme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-13 06:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220><strong>investors</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.\nThe $4.2 billion value fund tracks the S&P SmallCap 600...</p>\n\n<a href=\"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDCE":"PDC Energy","BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185020128","content_text":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.\nThe $4.2 billion value fund tracks the S&P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.\nThat more than doubles the return of its growth stock counterpart, SPDR S&P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.\nBack to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each. Smaller positions in consumer staples, utilities and communication services made up the rest.\nSPDR S&P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&P 600 Small Cap Growth is not.\nGameStop Stock Leads\nGameStop(GME),Macy's(M),PDC Energy(PDCE),Resideo Technologies(REZI) andBankUnited(BKU) were the top five holdings as of Wednesday.\nPacific Premier Bancorp(PPBI),Bed Bath & Beyond(BBBY),Ameris Bancorp(ABCB),First Hawaiian(FHB) andInsight Enterprises(NSIT) rounded out the top 10.\nGameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.\nAction had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.\nCould GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.\nSecond Meme Stock In Top 10\nPDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.\nBed Bath & Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.\nBut the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath & Beyond soared 62% before diving 28% the next session.\nThe rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&P 500 held a 13% gain through Thursday's close.\nSLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis. SLYV and SLYG charge a 0.15% expense ratio.","news_type":1,"symbols_score_info":{"BBBY":0.9,"PDCE":0.9}},"isVote":1,"tweetType":1,"viewCount":1048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181090245,"gmtCreate":1623365853287,"gmtModify":1704201599381,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581545771843484","authorIdStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good 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read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/102080478","repostId":"1191168108","repostType":4,"isVote":1,"tweetType":1,"viewCount":462,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114797070,"gmtCreate":1623104371290,"gmtModify":1704195959411,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good 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read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/113045540","repostId":"1147781211","repostType":4,"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3579406182113787","authorId":"3579406182113787","name":"meowww","avatar":"https://static.tigerbbs.com/1eaf843d0b4b644ee658145fc7493b24","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3579406182113787","idStr":"3579406182113787"},"content":"respond pls","text":"respond pls","html":"respond pls"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134205064,"gmtCreate":1622238112258,"gmtModify":1704181957796,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/134205064","repostId":"2138948877","repostType":4,"repost":{"id":"2138948877","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1622215813,"share":"https://ttm.financial/m/news/2138948877?lang=&edition=fundamental","pubTime":"2021-05-28 23:30","market":"us","language":"en","title":"The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2138948877","media":"Investors","summary":"Vacation trends reveal shifts toward privacy, luxury and family, continuing a transformative period for leisure and travel stocks.","content":"<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</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>The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever</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 Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever\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/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time\">2021-05-28 23:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WGO":"温尼巴格实业"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138948877","content_text":"Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like Airbnb that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.Leisure, Travel Industry StocksShares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.Airline stocks like American Airlines, United Airlines and Delta Air Lines surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.Cruise stocks like Carnival, Royal Caribbean and Norwegian Cruise Line are showing similar patterns.Meanwhile, shares of boat makers MarineMax and Brunswick as well as RV makers Winnebago and Thor Industries need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.Hotel leader Marriott has been less volatile and is forming a base, though earnings and sales have yet to fully recover.Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from Expedia rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.When Luxury Means More PrivacyLuxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.Private jet leasing company NetJets, which is owned by Berkshire Hathaway, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.Vacation Shift Favors These Travel StocksHotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes & Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.The Homes & Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.Seaworthy Travel Stocks Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick as well as sport boat maker Malibu Boats.\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.Travel Stocks For Being Alone TogetherThe desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.\"The rediscovery of America will continue this summer,\" Weissman said.The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.Work-Life RebalanceAs people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"Future Of Business Travel?That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.Experts say fewer workers may fly for one-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in one house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"","news_type":1,"symbols_score_info":{"WGO":0.9}},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190333261,"gmtCreate":1620596958353,"gmtModify":1704345157610,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/190333261","repostId":"1170905579","repostType":4,"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3571345352614779","authorId":"3571345352614779","name":"xiaobaii","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3571345352614779","idStr":"3571345352614779"},"content":"Kindly Like & Comment Please, Thank You Very Much","text":"Kindly Like & Comment Please, Thank You Very Much","html":"Kindly Like & Comment Please, Thank You Very Much"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107292355,"gmtCreate":1620494353477,"gmtModify":1704344343460,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/107292355","repostId":"1122089368","repostType":4,"repost":{"id":"1122089368","kind":"news","pubTimestamp":1620457397,"share":"https://ttm.financial/m/news/1122089368?lang=&edition=fundamental","pubTime":"2021-05-08 15:03","market":"us","language":"en","title":"What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?","url":"https://stock-news.laohu8.com/highlight/detail?id=1122089368","media":"The Wall Street Journal","summary":"To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are t","content":"<p>To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.</p><p>This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.</p><p>But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.</p><p>There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.</p><p>“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”</p><p>Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”</p><p><b>‘A bit frothy’</b></p><p>The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.</p><p>As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.</p><p>The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”</p><p>The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.</p><p>And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.</p><p>The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.</p><p>At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.</p><p><b>Running of the bulls</b></p><p>This injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&amp;P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.</p><p>Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.</p><p>Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.</p><p>Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.</p><p>Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.</p><p>Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.</p><p>Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.</p><p>Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&amp;P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.</p><p>While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.</p><p><b>Facing the future</b></p><p>It’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.</p><p>Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.</p><p>But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.</p><p>The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.</p><p>“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”</p><p>That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.</p><p>Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw &amp; Co. LP. He attributes that, in part, to inflation concerns.</p><p>The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.</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>What Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Happens to Stocks and Cryptocurrencies When the Fed Stops Raining Money?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-08 15:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/what-happens-to-stocks-and-cryptocurrencies-when-the-fed-stops-raining-money-11620446420?mod=itp_wsj><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis ...</p>\n\n<a href=\"https://www.wsj.com/articles/what-happens-to-stocks-and-cryptocurrencies-when-the-fed-stops-raining-money-11620446420?mod=itp_wsj\">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.wsj.com/articles/what-happens-to-stocks-and-cryptocurrencies-when-the-fed-stops-raining-money-11620446420?mod=itp_wsj","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122089368","content_text":"To veterans of financial bubbles, there is plenty familiar about the present. Stock valuations are their richest since the dot-com bubble in 2000. Home prices are back to their pre-financial crisis peak. Risky companies can borrow at the lowest rates on record. Individual investors are pouring money into green energy and cryptocurrency.This boom has some legitimate explanations, from the advances in digital commerce to fiscally greased growth that will likely be the strongest since 1983.But there is one driver above all: the Federal Reserve. Easy monetary policy has regularly fueled financial booms, and it is exceptionally easy now. The Fed has kept interest rates near zero for the past year and signaled rates won’t change for at least two more years. It is buying hundreds of billions of dollars of bonds. As a result, the 10-year Treasury bond yield is well below inflation—that is, real yields are deeply negative —for only the second time in 40 years.There are good reasons why rates are so low. The Fed acted in response to a pandemic that at its most intense threatened even more damage than the 2007-09 financial crisis. Yet in great part thanks to the Fed and Congress, which has passed some $5 trillion in fiscal stimulus, this recovery looks much healthier than the last. That could undermine the reasons for such low rates, threatening the underpinnings of market.“Equity markets at a minimum are priced to perfection on the assumption rates will be low for a long time,” said Harvard University economist Jeremy Stein, who served as a Fed governor alongside now-chairman Jerome Powell. “And certainly you get the sense the Fed is trying really hard to say, ‘Everything is fine, we’re in no rush to raise rates.’ But while I don’t think we’re headed for sustained high inflation it’s completely possible we’ll have several quarters of hot readings on inflation.”Since stocks’ valuations are only justified if interest rates stay extremely low, how do they reprice if the Fed has to tighten monetary policy to combat inflation and bond yields rise one to 1.5 percentage points, he asked. “You could get a serious correction in asset prices.”‘A bit frothy’The Fed has been here before. In the late 1990s its willingness to cut rates in response to the Asian financial crisis and the near collapse of the hedge fund Long-Term Capital Management was seen by some as an implicit market backstop, inflating the ensuing dot-com bubble. Its low-rate policy in the wake of that collapsed bubble was then blamed for driving up housing prices. Both times Fed officials defended their policy, arguing that to raise rates (or not cut them) simply to prevent bubbles would compromise their main goals of low unemployment and inflation, and do more harm than letting the bubble deflate on its own.As for this year, in a report this week the central bank warned asset “valuations are generally high” and “vulnerable to significant declines should investor risk appetite fall, progress on containing the virus disappoint, or the recovery stall.” On April 28 Mr. Powell acknowledged markets look “a bit frothy” and the Fed might be one of the reasons: “I won’t say it has nothing to do with monetary policy, but it has a tremendous amount to do with vaccination and reopening of the economy.” But he gave no hint the Fed was about to dial back its stimulus: “The economy is a long way from our goals.” A Labor Department report Friday showing that far fewer jobs were created in April than Wall Street expected underlined that.The Fed’s choices are heavily influenced by the financial crisis. While the Fed cut rates to near zero and bought bonds then as well, it was battling powerful headwinds as households, banks, and governments sought to pay down debts. That held back spending and pushed inflation below the Fed’s 2% target. Deeper-seated forces such as aging populations also held down growth and interest rates, a combination some dubbed “secular stagnation.”The pandemic shutdown a year ago triggered a hit to economic output that was initially worse than the financial crisis. But after two months, economic activity began to recover as restrictions eased and businesses adapted to social distancing. The Fed initiated new lending programs and Congress passed the $2.2 trillion Cares Act. Vaccines arrived sooner than expected. The U.S. economy is likely to hit its pre-pandemic size in the current quarter, two years faster than after the financial crisis.And yet even as the outlook has improved, the fiscal and monetary taps remain wide open. Democrats first proposed an additional $3 trillion in stimulus last May when output was expected to fall 6% last year. It actually fell less than half that, but Democrats, after winning both the White House and Congress, pressed ahead with the same size stimulus.The Fed began buying bonds in March, 2020 to counter chaotic conditions in markets. In late summer, with markets functioning normally, it extended the program while tilting the rationale toward keeping bond yields low.At the same time it unveiled a new framework: After years of inflation running below 2%, it would aim to push inflation not just back to 2% but higher, so that over time average and expected inflation would both stabilize at 2%. To that end, it promised not to raise rates until full employment had been restored and inflation was 2% and headed higher. Officials predicted that would not happen before 2024 and have since stuck to that guidance despite a significantly improving outlook.Running of the bullsThis injection of unprecedented monetary and fiscal stimulus into an economy already rebounding thanks to vaccinations is why Wall Street strategists are their most bullish on stocks since before the last financial crisis, according to a survey byBank of AmericaCorp.While profit forecasts have risen briskly, stocks have risen more. The S&P 500 stock index now trades at about 22 times the coming year’s profits, according to FactSet, a level only exceeded at the peak of the dot-com boom in 2000.Other asset markets are similarly stretched. Investors are willing to buy the bonds of junk-rated companies at the lowest yields since at least 1995, and the narrowest spread above safe Treasurys since 2007, according to Bloomberg Barclays data. Residential and commercial property prices, adjusted for inflation, are around the peak reached in 2006.Stock and property valuations are more justifiable today than in 2000 or in 2006 because the returns on riskless Treasury bonds are so much lower. In that sense, the Fed’s policies are working precisely as intended: improving both the economic outlook, which is good for profits, housing demand, and corporate creditworthiness; and the appetite for risk.Nonetheless, low rates are no longer sufficient to justify some asset valuations. Instead, bulls invoke alternative metrics.Bank of America recently noted companies with relatively low carbon emissions and higher water efficiency earn higher valuations. These valuations aren’t the result of superior cash flow or profit prospects, but a tidal wave of funds invested according to environmental, social and governance, or ESG, criteria.Conventional valuation is also useless for cryptocurrencies which earn no interest, rent or dividends. Instead, advocates claim digital currencies will displace the fiat currencies issued by central banks as a transaction medium and store of value. “Crypto has the potential to be as revolutionary and widely adopted as the internet,” claims the prospectus of the initial public offering of crypto exchangeCoinbase GlobalInc.,in language reminiscent of internet-related IPOs more than two decades earlier. Cryptocurrencies as of April 29 were worth more than $2 trillion, according to CoinDesk, an information service, roughly equivalent to all U.S. dollars in circulation.Financial innovation is also at work, as it has been in past financial booms. Portfolio insurance, a strategy designed to hedge against market losses, amplified selling during the 1987 stock market crash. In the 1990s, internet stockbrokers fueled tech stocks and in the 2000s, subprime mortgage derivatives helped finance housing. The equivalent today are zero commission brokers such as Robinhood Markets Inc., fractional ownership and social media, all of which have empowered individual investors.Such investors increasingly influence the overall market’s direction, according to a recent report by the Bank for International Settlements, a consortium of the world’s central banks. It found, for example, that since 2017 trading volume in exchange-traded funds that track the S&P 500, a favorite of institutional investors, has flattened while the volume in its component stocks, which individual investors prefer, has climbed. Individuals, it noted, are more likely to buy a company’s shares for reasons unrelated to its underlying business—because, for example, its name is similar to another stock that is on the rise.While such speculation is often blamed on the Fed, drawing a direct line is difficult. Not so with fiscal stimulus. Jim Bianco, the head of financial research firm Bianco Research, said flows into exchange-traded funds and mutual funds jumped in March as the Treasury distributed $1,400 stimulus checks. “The first thing you do with your check is deposit it in your account and in 2021 that’s your brokerage account,” said Mr. Bianco.Facing the futureIt’s impossible to predict how, or even whether, this all ends. It doesn’t have to: High-priced stocks could eventually earn the profits necessary to justify today’s valuations, especially with the economy’s current head of steam. In he meantime, more extreme pockets of speculation may collapse under their own weight as profits disappoint or competition emerges.Bitcoin once threatened to displace the dollar; now numerous competitors purport to do the same.TeslaInc.was once about the only stock you could buy to bet on electric vehicles; now there is China’s NIO Inc.,NikolaCorp., andFiskerInc.,not to mention established manufacturers such as Volkswagen AG andGeneral MotorsCo.that are rolling out ever more electric models.But for assets across the board to fall would likely involve some sort of macroeconomic event, such as a recession, financial crisis, or inflation.The Fed report this past week said the virus remains the biggest threat to the economy and thus the financial system. April’s jobs disappointment was a reminder of how unsettled the economic outlook remains. Still, with the virus in retreat, a recession seems unlikely now. A financial crisis linked to some hidden fragility can’t be ruled out. Still, banks have so much capital and mortgage underwriting is so tight that something similar to the 2007-09 financial crisis, which began with defaulting mortgages, seems remote. If junk bonds, cryptocoins or tech stocks are bought primarily with borrowed money, a plunge in their values could precipitate a wave of forced selling, bankruptcies and potentially a crisis. But that doesn’t seem to have happened. The recent collapse of Archegos Capital Management from reversals on derivatives-based stock investments inflicted losses on its lenders. But it didn’t threaten their survival or trigger contagion to similarly situated firms.“Where’s the second Archegos?” said Mr. Bianco. “There hasn’t been one yet.”That leaves inflation. Fear of inflation is widespread now with shortages of semiconductors, lumber, and workers all putting upward pressure on prices and costs. Most forecasters, and the Fed, think those pressures will ease once the economy has reopened and normal spending patterns resume. Nonetheless, the difference between yields on regular and inflation-indexed bond yields suggest investors are expecting inflation in coming years to average about 2.5%. That is hardly a repeat of the 1970s, and compatible with the Fed’s new goal of average 2% inflation over the long term. Nonetheless, it would be a clear break from the sub-2% range of the last decade.Slightly higher inflation would result in the Fed setting short-term interest rates also slightly higher, which need not hurt stock valuations. More worrisome: Long-term bond yields, which are critical to stock values, might rise significantly more. Since the late 1990s, bond and stock prices have tended to move in opposite directions. That is because when inflation isn’t a concern, economic shocks tend to drive both bond yields (which move in the opposite direction to prices) and stock prices down. Bonds thus act as an insurance policy against losses on stocks, for which investors are willing to accept lower yields. If inflation becomes a problem again, then bonds lose that insurance value and their yields will rise. In recent months that stock-bond correlation, in place for most of the last few decades, began to disappear, said Brian Sack, a former Fed economist who is now with hedge fund D.E. Shaw & Co. LP. He attributes that, in part, to inflation concerns.The many years since inflation dominated the financial landscape have led investors to price assets as if inflation never will have that sway again. They may be right. But if the unprecedented combination of monetary and fiscal stimulus succeeds in jolting the economy out of the last decade’s pattern, that complacency could prove quite costly.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115098164,"gmtCreate":1622939249958,"gmtModify":1704193372390,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/115098164","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://ttm.financial/m/news/1106312903?lang=&edition=fundamental","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p>\n<ul>\n <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>\n <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>\n <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li>\n</ul>\n<p>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p>\n<p>Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p>\n<p>Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p>\n<p>Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p>\n<p>Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p>\n<p>BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p>\n<p>Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p>\n<p>Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p>\n<p>Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p>\n<p>Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p>\n<p><b>IPO Market Snapshot</b></p>\n<p>The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 09:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZETA":"Zeta Global Holdings Corp.","TASK":"TaskUs Inc.",".SPX":"S&P 500 Index","LFST":"LifeStance Health Group, Inc.","BZ":"BOSS直聘","MQ":"Marqeta, Inc.","MNDY":"Monday.com Ltd.",".DJI":"道琼斯","DIBS":"1stdibs.com Inc.","ZME":"掌门教育",".IXIC":"NASDAQ Composite"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"LFST":0.9,"MNDY":0.9,"ZETA":0.9,"DIBS":0.9,"BZ":0.9,".IXIC":0.9,"ZME":0.9,"MQ":0.9,"TASK":0.9}},"isVote":1,"tweetType":1,"viewCount":707,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3572824646640760","authorId":"3572824646640760","name":"Haohao2324","avatar":"https://static.tigerbbs.com/5741ee0bde82c7782d814be80e181a3e","crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3572824646640760","idStr":"3572824646640760"},"content":"Like and Okmwnt","text":"Like and Okmwnt","html":"Like and Okmwnt"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112920097,"gmtCreate":1622847134619,"gmtModify":1704192202543,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/112920097","repostId":"1154529120","repostType":4,"repost":{"id":"1154529120","kind":"news","pubTimestamp":1622810459,"share":"https://ttm.financial/m/news/1154529120?lang=&edition=fundamental","pubTime":"2021-06-04 20:40","market":"hk","language":"en","title":"Can Alibaba Stock Hit $500? If You Got Time, Yes","url":"https://stock-news.laohu8.com/highlight/detail?id=1154529120","media":"seekingalpha","summary":"Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.I believe that there are both opportunities and risks, but would see the prior outweighing the latter.In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:. Alibaba Group'","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is a battleground stock where some see a lot of opportunities, while others see many risks.</li>\n <li>I believe that there are both opportunities and risks, but would see the prior outweighing the latter.</li>\n <li>In the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/567d19950e6c8789ce2192b4503f0fa5\" tg-width=\"1536\" tg-height=\"653\" referrerpolicy=\"no-referrer\"><span>Photo by efetova/iStock via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>Alibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.</p>\n<p><b>BABA Stock Price</b></p>\n<p>Since its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8079eeb5384ea003fb3725d3cd1e877f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p>\n<p>Shares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a&nbsp;revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.</p>\n<p>Alibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and&nbsp;fears about regulation.</p>\n<p>At its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.</p>\n<p><b>Can Alibaba Stock Hit $500?</b></p>\n<p>The answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.</p>\n<p><i>- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.</i></p>\n<p><i>- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.</i></p>\n<p><i>- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.</i></p>\n<p>We see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd2d42b7094deb394266d6410287c2e4\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p>\n<p>At 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.</p>\n<p>I still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.</p>\n<p>If we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6fcf78e0b071eff9753afbdcd96f751c\" tg-width=\"635\" tg-height=\"436\"><span>Data byYCharts</span></p>\n<p>If analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b4c351b4b5eb3328191ccaa9a3b776c\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p>\n<p>Analysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.</p>\n<p>We can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.</p>\n<p>So, to sum this section up, I'd say<i>yes, BABA can hit $500</i>-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.</p>\n<p><b>Is Alibaba Stock A Buy Or Sell Now?</b></p>\n<p>Alibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.</p>\n<p>For those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.</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>Can Alibaba Stock Hit $500? If You Got Time, Yes</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\">\nCan Alibaba Stock Hit $500? If You Got Time, Yes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 20:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4432992-alibaba-stock-hit-500><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is a battleground stock where some see a lot of opportunities, while others see many risks.\nI believe that there are both opportunities and risks, but would see the prior outweighing ...</p>\n\n<a href=\"https://seekingalpha.com/article/4432992-alibaba-stock-hit-500\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4432992-alibaba-stock-hit-500","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154529120","content_text":"Summary\n\nAlibaba is a battleground stock where some see a lot of opportunities, while others see many risks.\nI believe that there are both opportunities and risks, but would see the prior outweighing the latter.\nIn the long run, BABA has a chance of delivering strong gains for those that buy at the current, quite low, valuation.\n\nPhoto by efetova/iStock via Getty Images\nArticle Thesis\nAlibaba Group (BABA) is a leading global high-tech name that continues to generate attractive growth and that offers investors exposure to the high-growth Chinese consumer market. At the same time, through a range of ventures, Alibaba is also active in additional industries, such as cloud computing. Shares have declined considerably over the last couple of months, but I believe that the long-term potential is significant. I would not be surprised to see shares rise towards $500, although that will not happen in the near term.\nBABA Stock Price\nSince its IPO, Alibaba has seen strong share price gains, but it should also be mentioned that shares did peek in H2 2020, and have declined considerably since then:\nData byYCharts\nShares are now basically where they were one year ago, as the gains during summer 2020 have been erased when Ant Financial's IPO plans were stopped. The flat share price performance over the last year is somewhat surprising, though, as Alibaba continued to generate strong results in that time frame. During the last quarter, for example, Alibaba showcased a revenue growth rate of 64%, while revenue growth during the previous quarter was also very strong, at around 50%. This is not the only positive in Alibaba's earnings releases, however. The company also managed to grow its user count by 32 million during the most recent quarter alone, which equates to an annualized user growth rate of around 20%. This bodes well for future quarters, as more users on Alibaba's platform should translate into higher revenues. On top of that, the strong user growth shows that there is still growing demand for the shopping services that Alibaba's platforms offer -- the market is not saturated at all. Alibaba also managed to grow its EBITDA by 25% year over year, which is an attractive growth pace as well, and which was achieved despite growing investments in what management calls key growth areas. Income from operations, meanwhile, grew at an even faster pace, thanks to some operating leverage, rising by 48% year over year when adjusted for the fine that Alibaba had to pay during Q1. It makes, I believe, sense to back out this one-time item to get a clearer picture about Alibaba's underlying, \"core\" profitability during an average quarter.\nAlibaba Group's weak share price performance, relative to the broad market and other tech names, is thus not the result of weak operating performance, but rather a result of multiple compression, driven by weak investor sentiment due to China exposure and fears about regulation.\nAt its current price of $220, BABA trades at a quite large discount compared to the current consensus analyst price target of $298. If Alibaba were to hit that, shares would gain 35%. Analyst price targets are usually issued with a 1-year time frame, thus, if the analyst community is correct, Alibaba could be a great investment. From a valuation standpoint, this price target doesn't seem outrageous at all, as $298 would equate to around 29x this year's expected net profits, or 23x next year's net earnings. The latter is likely the more telling one when we talk about a price target for summer 2022, i.e. 1 year from now.\nCan Alibaba Stock Hit $500?\nThe answer to that question, I think, depends on your time frame. If you are looking at a 12-month window, then Alibaba will most likely not be able to hit $500. The ~$300 price target seems achievable, although that is, of course, also not guaranteed. If, however, we take a longer-term view, then $500 seems like a share price that BABA could hit eventually. Let's look at a couple of examples.\n- If Alibaba were to generate earnings per share of $20 at some point and traded at an earnings multiple of 25, then shares would trade at $500.\n- If Alibaba were to generate earnings per share of $25 and traded at a 20x earnings multiple, then shares would trade at $500.\n- If Alibaba were to generate earnings per share of $17 and traded at 29x its net profits, then shares would trade at (marginally below) $500.\nWe see that there are many scenarios that could get us to a $500 share price for BABA, some of them more likely than others. Of course, the higher your target multiple, the lower the earnings that would be required. This, in turn, means that the price target can be hit sooner, as less cumulative earnings growth would be required. When we take a look at how Alibaba was valued in the past, we see that the longer-term median earnings multiples for BABA look like this:\nData byYCharts\nAt 30-40x net earnings, Alibaba was clearly trading at a massive premium relative to how shares are valued today (around 20x this year's earnings). I think that the current valuation is too low, but on the other hand, I do not expect Alibaba to trade at 30, 35, or even 40x net profits in coming years. Due to the growing scale of Alibaba, which makes it a little harder to maintain its excellent growth in coming years, shares will likely trade at a lower valuation in coming years, compared to how they were valued in the past.\nI still think that shares do have some valuation expansion potential from the current earnings multiple of around 21, thus let's assume that shares trade at 23x net profits in the future. This would still represent a massive discount versus the historic valuation, and also a substantial discount compared to how US-based high-tech mega-caps are valued -- Amazon (AMZN), for example, trades at 59x this year's earnings.\nIf we want to get to a $500 share price for BABA using a 23x earnings multiple, then we get to earnings per share of $21.70 that Alibaba must generate. When could this be the case? In the following chart, we see EPS estimates for the current year, next year (CY 2022), and CY 2023:\nData byYCharts\nIf analysts are right, Alibaba will not get to earn $22 a share through 2023, and I think that is realistic. I do not see earnings per share rising by 100%+ between this year and 2023, either. From 2023, it would take another 43% increase in Alibaba's earnings per share to get to $21.70, which is our \"target EPS\" for a $500 share price.\nData byYCharts\nAnalysts are currently forecasting long-term EPS growth of around 27%, which would mean it would take Alibaba about 1.5 years to grow its EPS from $15.20 (2023 estimate) to our target of $21.70. Even if we assume that this is too optimistic and that growth will be just 20% in 2024 and 2025, EPS of $21.70 could be hit by the end of 2025. So, in other words, if Alibaba grows a little less than what analysts are forecasting right now, Alibaba could trade at $500 by the end of 2025 -- or 4.5 years from now. Note that this scenario does not require a high earnings multiple at all -- at 23x net profits, Alibaba wouldn't be expensive, I believe.\nWe can get even more conservative and assume that the 2023 EPS estimate is 10% too high and that EPS will grow by just 17% a year in the years beyond 2023 (versus a long-term forecast of 27% a year by the analyst community). In that case, Alibaba would hit $21.70 in earnings per share in 2026, and shares would rise to $500 over the next 5.5 years. Even in this scenario, BABA wouldn't be a bad investment at all -- a 130% share price increase from the current level over the next 5.5 years would equate to annualized returns of 16%.\nSo, to sum this section up, I'd sayyes, BABA can hit $500-- but it will realistically take a couple of years. By the mid-2020s, this seems like a very achievable goal to me, although there are, of course, no guarantees.\nIs Alibaba Stock A Buy Or Sell Now?\nAlibaba Group is, I believe, a strong investment. The company generates strong growth, profits from multiple long-term macro trends, such as growing consumer spending in China, growing e-commerce market share, and cloud computing. There are, however, risks to consider: Alibaba is highly China-dependent, and in case the economic growth story in China ends, Alibaba would be hurt a lot. On top of that, Alibaba could be targeted again by regulators, although I personally think that it is not in China's best interest to hurt one of its highest-growth tech companies.\nFor those that worry about these risks, Alibaba may not be the right choice, but for those that see Alibaba as a potentially very rewarding play on Chinese consumers, BABA could be a strong pick in a diversified portfolio. I belong to the latter group and thus rate the stock a buy at current valuations, expecting significant upside over the coming years. Depending on your risk tolerance and how you weigh the opportunities and threats of investing in Chinese companies, you may decide differently, however.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196340323,"gmtCreate":1621031002862,"gmtModify":1704352082613,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/196340323","repostId":"2135710626","repostType":4,"isVote":1,"tweetType":1,"viewCount":612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834767142,"gmtCreate":1629842230986,"gmtModify":1676530145452,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Agree","listText":"Agree","text":"Agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834767142","repostId":"2161818081","repostType":4,"isVote":1,"tweetType":1,"viewCount":2651,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149066279,"gmtCreate":1625695540991,"gmtModify":1703746422310,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/149066279","repostId":"1124277162","repostType":4,"isVote":1,"tweetType":1,"viewCount":2324,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189270865,"gmtCreate":1623279870657,"gmtModify":1704199785708,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/189270865","repostId":"1137228181","repostType":4,"isVote":1,"tweetType":1,"viewCount":1051,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132971002,"gmtCreate":1622070102606,"gmtModify":1704178694711,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/132971002","repostId":"1107926084","repostType":4,"repost":{"id":"1107926084","kind":"news","pubTimestamp":1622042301,"share":"https://ttm.financial/m/news/1107926084?lang=&edition=fundamental","pubTime":"2021-05-26 23:18","market":"us","language":"en","title":"June Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead","url":"https://stock-news.laohu8.com/highlight/detail?id=1107926084","media":"benzinga","summary":"A lot’s happening in June, but the most intense focus could be on a single event the afternoon of Ju","content":"<div>\n<p>A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">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>June Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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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\">\nJune Outlook: Inflation, Jobs, And The Fed Take Center Stage In Month Ahead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-26 23:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead\">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/earnings/21/05/21300753/june-outlook-inflation-jobs-and-the-fed-take-center-stage-in-month-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107926084","content_text":"A lot’s happening in June, but the most intense focus could be on a single event the afternoon of June 16.That’s when the Federal Open Market Committee (FOMC) wraps up its June meeting and Fed Chairman Jerome Powell addresses reporters. While a Powell press conference is important whenever it happens, this one has more significance than usual because of what the Fed said at its April meeting.Minutes from that gathering raised the chance of the Fed beginning to plan some sort of “taper” if the economy keeps galloping along. Remember, the Fed’s been snapping up $120 billion in Treasury bonds and mortgage-backed securities each month to provide liquidity and keep rates low during the pandemic, but has said it will begin “tapering,” or slowing the pace of those purchases, if certain employment parameters are met. Chances of a taper happening in the relatively near future suddenly appeared more likely based on the following words in the April minutes:“A number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.”That statement appeared to surprise some analysts. They hadn’t expected the FOMC to publicly ponder actual tapering until possibly later this year. Those words, along with a string of robust economic data and earnings numbers, might have investors on tenterhooks waiting to hear the Fed’s fresh thinking on June 16. Will it give any hint of how long it’s willing to let things continue rolling full steam ahead? Just how worried are Powell and company about rising prices?Any sign that the Fed is ready to taper earlier than expected could cause Treasury yields to rise and potentially put pressure on the stock market.As The Fed Turns...It’s hard to blame Fed officials for wondering if the economy might be on the verge of overheating. After all, Q1 gross domestic product (GDP) grew more than 6%, the highest in decades. Layoffs appear to be trending much lower, if weekly initial jobless claims are correct, and many companies said during Q1 earnings season that they’re having supply chain issues even while paying more for the raw materials they need. This raises concerns about producer inflation making its way to consumers.The final straw might have been April’s consumer price index (CPI), which showed more than 4% year-over-year growth, the highest in a decade. Core month-over-month CPI saw its sharpest rise since April 1982, when President Reagan was serving his first term and Powell was a recent law school graduate.Though the Fed didn’t have all of this data in hand when it met in late April, the signs were already pointing toward major economic growth and price pressure, putting the Fed between the proverbial rock and a hard place.Powell has emphasized the importance of getting millions back to work, with unemployment still around 6% more than a year after the pandemic began. Earlier this year, the Fed made it very clear it would tolerate inflation above its 2% long-term target until employment got back on track, but this risks the chance of price pressure hurting consumers and companies. Corporate margins look very positive right now coming off huge Q1 earnings growth, but inflation over coming months could change that, perhaps resulting in pressure on stocks.There could be more Fed remarks in the next week or two, but then the pre-meeting silent period begins and June 16 looms. Powell is almost certainly going to face questions about those April meeting minutes.Tug-Of-War Persists Between Growth And ValueAll this focus on the Fed turns attention to the benchmark 10-year Treasury yield, a major metric for economic growth, inflation, and interest rate anticipation. It rallied from near historic lows of around 0.95% at the start of the year to a late-March high of 1.78% as the economy improved and inflation fears gathered. It then pulled back and hung around near 1.6% for a couple of months, trading at 1.61% as of late May.Anywhere above 1.75% might look interesting now, and 2% might spark some fear in the market. The rally in yields earlier this year really helped snuff out the Info Tech rally, since many of those stocks are priced in part based on anticipation of future growth, something higher borrowing costs might compress.That helped lead to the current tug-of-war between value sectors like Financials and Energy that tend to do better in a recovering economy where inflation is rising and Growth ones like Tech that outperformed during the shutdowns of 2020. The battle has raged most of the last two months, though there are now signs of at least some investors beginning to bifurcate Tech between the huge, mature companies like AppleAAPL 0.09%and MicrosoftMSFT 0.05%and smaller firms more dependent on keeping future growth paths skyrocketing. The AAPLs and MSFTs of the world have often led the broader market higher the last few years, and could be less vulnerable then smaller Tech firms if interest rates do start to rise.FIGURE 1:  MAY MALAISE.After a strong start to 2021, the S&P 500 Index (SPX—candlestick) had some struggles in May amid inflation worries. The Nasdaq 100 (NDX—purple line) has had a much more checkered year as some investors favored value over growth sectors, and continued to be weak heading into June. Data Sources: S&P Dow Jones Indices, Nasdaq. Chart source: The thinkorswim® platform. For illustrative purposes only. Past performance does not guarantee future results.But we may be putting the cart ahead of the horse, so to speak. The April jobs growth number of 266,000 was way, way below Wall Street’s expectations for more than 700,000 and some bullish predictions of a million. That puts focus squarely on the May jobs growth number, due June 4. Another weak jobs reading for May might take some pressure off of the Fed and rates, with “bad news” possibly becoming “good news” for stocks, so to speak.Remember that different U.S. states were in different reopening modes in April, which may have affected that number. It’s possible some of the earlier job growth won’t show up until May, or the April number could be revised upward once things become clearer. A lot of what Powell says and does on June 16 will likely reflect the jobs report, along with inflation data like the May 28 personal consumption expenditure (PCE) prices, which the Fed is known to follow closely.The May CPI report on June 10 is another key one to watch next month when it comes to inflation. The Fed will have all that material in hand by the time it meets, giving it a clearer perspective.Homebuilders, “Stay-At-Home” Stocks Among June Earnings ReportsThat’s a mouthful about the Fed, inflation, jobs, and yields. What about the corporate world?As we emerge from a Q1 earnings season where the average S&P 500 company recorded earnings per share growth of nearly 52%, according to Factset, you might think earnings aren’t a big calendar item in June. That’s only partially true. While we won’t see a big crush of earnings reports, there are some key ones to watch, especially in the home building sector where both Lennar and KB Home are expected to report during the month.The housing market has been red hot, so a couple of April data points that missed analysts’ expectations (existing home sales and housing starts) might not be too big a deal. Having said that, the economy’s reopening could take peoples’ attention away from home buying and give strength to companies that focus on experiences rather than products. It’s possible some of the strength in housing and home improvement got pulled forward by the pandemic, just as we saw demand for internet conferences and home exercise equipment pulled forward. Keep an eye on what LEN and KBH say about demand when they report.Zoom Video , Kroger , Chewy , and Slack are some other companies whose businesses saw a big impact from Covid and release earnings in June. Most of them benefitted from people staying at home, questions remain over how much of their recent growth in sales has been sustainable vs. “demand pulled forward.” Many of their shares have lost ground and investors are eager to hear how they plan to keep the fizz bubbling post-Covid. Meanwhile, Tech earnings are a bit scarce in the month ahead, but Oracle is expected to be on the June release calendar.Keeping Watch on Crypto, VolatilityLike it or not, cryptocurrency could also help determine the market’s direction in June. It seemed like bitcoin set some of the momentum in late May, though that’s not a permanent indicator by any stretch of the imagination. However, when the news flow gets quiet and people start looking for indicators on how to trade, bitcoin and other cryptocurrencies have been something many investors watch. The question is whether the stock market is starting to divorce itself more from cryptocurrency after huge swings in bitcoin prices recently.Volatility is another metric to watch. The Cboe Volatility Index(VIX) hung around near 20 in late May after a month where it seldom went below 18 or above 25. VIX typically spends a long time trading in specific ranges, so the next thing to check is whether the current range holds or if it steps up or down. A move higher in volatility, especially any prolonged stays above 25, would presumably reflect mounting investor uncertainty and worries about what’s ahead. If VIX falls below 20 and stays there awhile, it could point to a quiet summer.We haven’t mentioned Covid so far except in passing. That’s a good thing, because it means it’s not front and center the way it once was. As of late May, the U.S. seemed to be on very good footing thanks to vaccinations, with case counts falling to the lowest daily levels in nearly a year. No one knows if this will continue, but we can be hopeful.We can also hope that the current devastating impact of Covid in parts of Asia slows down in the month ahead. Right now, it appears that the situation there might be putting a bit of pressure on the blazing commodity markets amid worries about overseas demand for products like crude and copper. China also tried to clamp down on commodity prices in late May, saying it will move to reduce speculation.We started with inflation, so might as well end with it. The commodities market is another aspect of pricing pressure, especially for companies in the Materials, Information Technology, Transport, and Industrial sectors. Costs rose sharply so far this year for many of the core products they use, but if commodities continue to level off or even fall in June, that could relieve some of the pressure on companies and the Fed. Whether that happens could be determined by progress against the pandemic the next few weeks in places like India, Japan, and South Korea.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193352256,"gmtCreate":1620771195875,"gmtModify":1704347973228,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/193352256","repostId":"1199341916","repostType":4,"repost":{"id":"1199341916","kind":"news","pubTimestamp":1620736561,"share":"https://ttm.financial/m/news/1199341916?lang=&edition=fundamental","pubTime":"2021-05-11 20:36","market":"us","language":"en","title":"If Everyone Sees It, Is It Still A Bubble?","url":"https://stock-news.laohu8.com/highlight/detail?id=1199341916","media":"zerohedge","summary":"As Mark Hulbert noted recently, “everyone” is worrying about a “bubble” in the stock market. To wit:. “To appreciate how widespread current concern about a bubble is, consider the accompanying chart of data from Google Trends. It plots the relative frequency of Google searches based on the term ‘stock market bubble.’ Notice that this frequency has recently jumped to a far-higher level than at any other point over the last five years.”“My confidence is rising quite rapidly that this is, in fact, ","content":"<p><b><i>\"If everyone sees it, is it still a bubble?”</i></b>That was a great question I got over the weekend.&nbsp;As a&nbsp;<i>“contrarian”</i>&nbsp;investor, it is usually when&nbsp;<i>“everyone”</i>&nbsp;is talking about an event; it doesn’t happen.</p>\n<p>As&nbsp;<b><i>Mark Hulbert noted recently</i></b>,&nbsp;<i>“everyone”</i>&nbsp;is worrying about a<i>&nbsp;“bubble”</i>&nbsp;in the stock market. To wit:</p>\n<p><i>“To appreciate how widespread current concern about a bubble is, consider the accompanying chart of data from Google Trends. It plots the relative frequency of Google searches based on the term ‘stock market bubble.’ Notice that this frequency has recently jumped to a far-higher level than at any other point over the last five years.”</i></p>\n<p><img src=\"https://static.tigerbbs.com/7a2a152e3037789e73c80d5c89bf4141\" tg-width=\"500\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><b>What Is A Bubble?</b></p>\n<blockquote>\n <b><i>“My confidence is rising quite rapidly that this is, in fact, becoming the fourth ‘real McCoy’ bubble of my investment career.</i></b>\n <i>The great bubbles can go on a long time and inflict a lot of pain, but at least I think we know now that we’re in one.”</i>\n <b><i>&nbsp;–</i></b>\n <i>Jeremy Grantham</i>\n</blockquote>\n<p>What is the definition of a bubble?&nbsp; According to&nbsp;<i>Investopedia:</i></p>\n<blockquote>\n <i>“A bubble is a market cycle that is characterized by the rapid escalation of market value, particularly in the price of assets.</i>\n <i><b>Typically, what creates a bubble is a surge in asset prices driven by exuberant market behavior.</b></i>\n <i>&nbsp;During a bubble, assets typically trade at a price</i>\n <i><b>that greatly exceeds the asset’s intrinsic value. Rather, the price does not align with thefundamentals of the asset.</b></i>\n <i>“</i>\n</blockquote>\n<p>This definition is suitable for our discussion; there are three components of a&nbsp;<i>“bubble.”</i><i><b>The&nbsp;first two, price and valuation,</b></i>&nbsp;are readily dismissed during the inflation phase.&nbsp;Jeremy Grantham once produced the following chart of 40-years of price bubbles in the markets. During the inflation phase, each was readily dismissed under the guise&nbsp;<i>“this time is different.”</i></p>\n<p><img src=\"https://static.tigerbbs.com/367ada4ec5d5a7c35f8e670e0224fc6b\" tg-width=\"500\" tg-height=\"342\"></p>\n<p><b>We are interested in the</b><b><i>“third”</i></b><b>&nbsp;component of</b><b><i>“bubbles,”</i></b><b>&nbsp;which is investor psychology.</b></p>\n<p><b>A Bubble In Psychology</b></p>\n<p>As&nbsp;<i><b>Howard Marks previously noted:</b></i></p>\n<blockquote>\n <i>“It’s the swings of psychology that get people into the biggest trouble. Especially since investors’ emotions invariably swing in the wrong direction at the wrong time.</i>\n <i><b>When things are going well people become greedy and enthusiastic. When times are troubled, people become fearful and reticent. That’s just the wrong thing to do. It’s important to control fear and greed.”</b></i>\n</blockquote>\n<p>Currently, it’s difficult for investors to become any more enthusiastic about market returns.&nbsp;<i>(</i><i><b>The RIAPro Fear/Greed Index</b></i><i>&nbsp;compiles measures of equity allocation and market sentiment. The index level is</i><i><b>not a component</b></i><i>&nbsp;of the measure that runs from 0 to 100.</i><i><b>The current reading is 99.9, which is a historical record.)</b></i></p>\n<p><img src=\"https://static.tigerbbs.com/137bb4e88e92ca8b22df63ffc61e387c\" tg-width=\"500\" tg-height=\"334\"></p>\n<p>Such is an interesting juxtaposition. On the one hand, there is a rising recognition of a&nbsp;<i>“bubble,”</i>&nbsp;but investors are unwilling to reduce “equity risk” for&nbsp;<i>“fear of missing out or F.O.M.O.”</i>Such was a point noted explicitly by Mark:</p>\n<blockquote>\n <i><b>“Rather than responding by taking some chips off the table, however, many began freely admitting a bubble formed.</b></i>\n <i>&nbsp;They no longer tried to justify higher prices on fundamentals. Rather,</i>\n <i><b>they justified it instead in terms of the market’s momentum.</b></i>\n <i>&nbsp;Prices should keep going up as FOMO seduces more investors to jump on the bandwagon.”</i>\n</blockquote>\n<p>In other words, investors have fully adopted the&nbsp;<i>“Greater Fool Theory.”</i></p>\n<p>Okay, Boomer!</p>\n<p>I know. The discussion of&nbsp;<i>“valuations”</i>&nbsp;is an old-fashioned idea relegated to investors of an older era. Such was evident in the pushback on Charlie Munger’s comments about Bitcoin recently:</p>\n<blockquote>\n <i>“</i>\n <i><b>While Munger has never been a bitcoin advocate, his dislike crystalized into something close to hatred.</b></i>\n <i>Looking back over the past 52 weeks, the reason for Munger’s anger becomes apparent with Berkshire rising only 50.5% against bitcoin’s more than 500% gain.”&nbsp;– Coindesk</i>\n</blockquote>\n<p>In 1999, when Buffett spoke out against&nbsp;<i>“Dot.com”</i>&nbsp;stocks, he got dismissed with a similar ire of&nbsp;<b><i>“investing with Warren Buffett is like driving ‘Dad’s old Pontiac.'”</i></b></p>\n<p>Today, young investors are not interested in the&nbsp;<i>“pearls of wisdom”</i>&nbsp;from experienced investors. Today, they are&nbsp;<i>“out of touch,”</i>&nbsp;with the market’s<i>&nbsp;“new reality.”</i></p>\n<blockquote>\n <i><b>“The big benefit of TikTok is it allows users to dole out and obtain information in short, easily digestible video bites, also called TikToks.</b></i>\n <i>&nbsp;And that can make unfamiliar, complex topics, such as personal finance and investing, more palatable to a younger audience.That advice runs the gamut, from general information about home buying or retirement savings to specific stock picks and investment ideas.</i>\n <i><b>Rob Shields, a 22-year-old, self-taught options trader who has more than 163,000 followers on TikTok, posts TikToks under the username stock_genius on topics such as popular stocks to watch, how to find good stocks, and basic trading strategies.” –&nbsp;WSJ:</b></i>\n</blockquote>\n<p><b>Of course, the problem with information doled out by 22-year olds is they were 10-year olds during the last</b><i><b>“bear market.”</b></i>Given the lack of experience of investing during such a market, as opposed to Warren Buffett who has survived several, is the eventual destruction of capital.</p>\n<p><b>Plenty Of Analogies</b></p>\n<blockquote>\n <i><b>“There is no shortage of current analogies, of course. Take Dogecoin, created as a joke with no fundamental value.</b></i>\n <i>&nbsp;As a&nbsp;recent Wall Street Journal article outlined, the Dogecoin ‘serves no purpose and, unlike Bitcoin, faces no limit on the number of coins that exist.’</i>\n <i><b>Yet investors flock to it, for no other apparent reason than its sharp rise.</b></i>\n <i>&nbsp;Billy Markus, the co-creator of dogecoin, said to the Wall Street Journal, ‘This is absurd. I haven’t seen anything like it. It’s one of those things that once it starts going up, it might keep going up.’” – Mark Hulbert</i>\n</blockquote>\n<p>That exuberance shows up with professionals as well.<b>&nbsp;As of the end of April, the National Association Of Investment Managers asset allocation was 103%.</b></p>\n<p><img src=\"https://static.tigerbbs.com/c412f208aa700b3f7ccb35d3b7d4e923\" tg-width=\"500\" tg-height=\"328\"></p>\n<p>As Dana Lyons noted previously:</p>\n<blockquote>\n “\n <i>Regardless of the investment acumen of any group (we think it is very high among NAAIM members),</i>\n <i><b>once the collective investment opinion or posture becomes too one-sided, it can be an indication that some market action may be necessary to correct such consensus.</b></i>\n <i>“</i>\n</blockquote>\n<p><b>Give Me More</b></p>\n<p>Of course, margin debt, which is the epitome of “<i>speculative appetite,”</i>&nbsp;soared in recent months.</p>\n<p><img src=\"https://static.tigerbbs.com/e11b088ecdf04d5036b4f5bb2d67c13d\" tg-width=\"500\" tg-height=\"327\"></p>\n<p>As stated,&nbsp;<i>“bubbles are about psychology,”</i>&nbsp;which the annual rate of change of leverage shows.</p>\n<p><img src=\"https://static.tigerbbs.com/422c963018723e8986826a89a32883e5\" tg-width=\"500\" tg-height=\"327\"></p>\n<p>Another form of leverage that doesn’t show up in margin debt is ETF’s structured to multiply market returns. These funds have seen record inflows in recent months.</p>\n<p><img src=\"https://static.tigerbbs.com/4ac35f10215d5fcffec35e4e94c952bb\" tg-width=\"500\" tg-height=\"335\"></p>\n<p><b>With margin debt reaching levels not seen since the peak of the last cyclical bull market cycle, it should raise some concerns about sustainability.</b>&nbsp;It is NOT the level of leverage that is the problem as leverage increases buying power as markets are rising.&nbsp;<b>The unwinding of this leverage is critically dangerous in the market as the acceleration of</b><b><i>“margin calls”</i></b><b>&nbsp;leads to a vicious downward spiral.</b></p>\n<p>Importantly, this chart<b>&nbsp;does not meanthat a massive market correction is imminent. I</b>t does suggest that leverage, and speculative risk-taking, are likely much further advanced than currently recognized.</p>\n<p><b>Pushing Extremes</b></p>\n<p>Prices are ultimately affected by physics. Moving averages, trend lines, etc., all exert a gravitational pull on prices in both the short and long term.&nbsp;<b>Like a rubber band, when prices get stretched too far in one direction, they have always eventually</b><b><i>“reverted to the mean”</i></b><b>&nbsp;in the most brutal of manners.</b></p>\n<p>The chart below shows the long-term chart of the S&amp;P 500 broken down by several measures: 2 and 3-standard deviations, valuations, relative strength, and deviations from the 3-year moving average.&nbsp;<b>It is worth noting that both standard deviations and distance from the 3-year moving average are at a record.</b></p>\n<p><b>During the last 120-years, overvaluation and extreme deviations NEVER got resolved by markets going sideways.</b></p>\n<p><img src=\"https://static.tigerbbs.com/4fc311c3fdd527fd911070f7dd841545\" tg-width=\"500\" tg-height=\"590\"></p>\n<p>The only missing ingredient for such a correction currently is simply a catalyst to put&nbsp;<i>“fear”</i>&nbsp;into an overly complacent marketplace. Anything from economic disruption, a credit-related crisis, or an unexpected exogenous shock could start the&nbsp;<i>“panic for the exits.”</i></p>\n<p><b>Conclusion</b></p>\n<p>There is more than adequate evidence a<i>&nbsp;“bubble”</i>&nbsp;exists in markets once again. However, as Mark noted in his commentary:</p>\n<blockquote>\n <i>‘I have no idea whether the stock market is actually forming a bubble that’s about to break.</i>\n <i><b>But I do know that many bulls are fooling themselves when they think a bubble can’t happen when there is such widespread concern. In fact, one of the distinguishing characteristics of a bubble is just that.”</b></i>\n</blockquote>\n<p>However, he concludes with the most important statement:</p>\n<blockquote>\n <i>“It’s important for all of us to be aware of this bubble psychology,</i>\n <i><b>but especially if you’re a retiree or a near-retiree. That’s because, in that case, your investment horizon is far shorter than for those who are younger.</b></i>\n <i>Therefore, you are less able to recover from the deflation of a market bubble.”</i>\n</blockquote>\n<p><b>Read that statement again.</b></p>\n<p>Millennials are quick to dismiss the&nbsp;<i>“Boomers”</i>&nbsp;in the financial markets today for&nbsp;<i>“not getting it.”</i></p>\n<p>No, we get it. We have just been around long enough to know how these things eventually end.</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>If Everyone Sees It, Is It Still A Bubble?</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\">\nIf Everyone Sees It, Is It Still A Bubble?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-11 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/if-everyone-sees-it-it-still-bubble><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"If everyone sees it, is it still a bubble?”That was a great question I got over the weekend. As a “contrarian” investor, it is usually when “everyone” is talking about an event; it doesn’t happen.\nAs...</p>\n\n<a href=\"https://www.zerohedge.com/markets/if-everyone-sees-it-it-still-bubble\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/if-everyone-sees-it-it-still-bubble","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199341916","content_text":"\"If everyone sees it, is it still a bubble?”That was a great question I got over the weekend. As a “contrarian” investor, it is usually when “everyone” is talking about an event; it doesn’t happen.\nAs Mark Hulbert noted recently, “everyone” is worrying about a “bubble” in the stock market. To wit:\n“To appreciate how widespread current concern about a bubble is, consider the accompanying chart of data from Google Trends. It plots the relative frequency of Google searches based on the term ‘stock market bubble.’ Notice that this frequency has recently jumped to a far-higher level than at any other point over the last five years.”\nWhat Is A Bubble?\n\n“My confidence is rising quite rapidly that this is, in fact, becoming the fourth ‘real McCoy’ bubble of my investment career.\nThe great bubbles can go on a long time and inflict a lot of pain, but at least I think we know now that we’re in one.”\n –\nJeremy Grantham\n\nWhat is the definition of a bubble?  According to Investopedia:\n\n“A bubble is a market cycle that is characterized by the rapid escalation of market value, particularly in the price of assets.\nTypically, what creates a bubble is a surge in asset prices driven by exuberant market behavior.\n During a bubble, assets typically trade at a price\nthat greatly exceeds the asset’s intrinsic value. Rather, the price does not align with thefundamentals of the asset.\n“\n\nThis definition is suitable for our discussion; there are three components of a “bubble.”The first two, price and valuation, are readily dismissed during the inflation phase. Jeremy Grantham once produced the following chart of 40-years of price bubbles in the markets. During the inflation phase, each was readily dismissed under the guise “this time is different.”\n\nWe are interested in the“third” component of“bubbles,” which is investor psychology.\nA Bubble In Psychology\nAs Howard Marks previously noted:\n\n“It’s the swings of psychology that get people into the biggest trouble. Especially since investors’ emotions invariably swing in the wrong direction at the wrong time.\nWhen things are going well people become greedy and enthusiastic. When times are troubled, people become fearful and reticent. That’s just the wrong thing to do. It’s important to control fear and greed.”\n\nCurrently, it’s difficult for investors to become any more enthusiastic about market returns. (The RIAPro Fear/Greed Index compiles measures of equity allocation and market sentiment. The index level isnot a component of the measure that runs from 0 to 100.The current reading is 99.9, which is a historical record.)\n\nSuch is an interesting juxtaposition. On the one hand, there is a rising recognition of a “bubble,” but investors are unwilling to reduce “equity risk” for “fear of missing out or F.O.M.O.”Such was a point noted explicitly by Mark:\n\n“Rather than responding by taking some chips off the table, however, many began freely admitting a bubble formed.\n They no longer tried to justify higher prices on fundamentals. Rather,\nthey justified it instead in terms of the market’s momentum.\n Prices should keep going up as FOMO seduces more investors to jump on the bandwagon.”\n\nIn other words, investors have fully adopted the “Greater Fool Theory.”\nOkay, Boomer!\nI know. The discussion of “valuations” is an old-fashioned idea relegated to investors of an older era. Such was evident in the pushback on Charlie Munger’s comments about Bitcoin recently:\n\n“\nWhile Munger has never been a bitcoin advocate, his dislike crystalized into something close to hatred.\nLooking back over the past 52 weeks, the reason for Munger’s anger becomes apparent with Berkshire rising only 50.5% against bitcoin’s more than 500% gain.” – Coindesk\n\nIn 1999, when Buffett spoke out against “Dot.com” stocks, he got dismissed with a similar ire of “investing with Warren Buffett is like driving ‘Dad’s old Pontiac.'”\nToday, young investors are not interested in the “pearls of wisdom” from experienced investors. Today, they are “out of touch,” with the market’s “new reality.”\n\n“The big benefit of TikTok is it allows users to dole out and obtain information in short, easily digestible video bites, also called TikToks.\n And that can make unfamiliar, complex topics, such as personal finance and investing, more palatable to a younger audience.That advice runs the gamut, from general information about home buying or retirement savings to specific stock picks and investment ideas.\nRob Shields, a 22-year-old, self-taught options trader who has more than 163,000 followers on TikTok, posts TikToks under the username stock_genius on topics such as popular stocks to watch, how to find good stocks, and basic trading strategies.” – WSJ:\n\nOf course, the problem with information doled out by 22-year olds is they were 10-year olds during the last“bear market.”Given the lack of experience of investing during such a market, as opposed to Warren Buffett who has survived several, is the eventual destruction of capital.\nPlenty Of Analogies\n\n“There is no shortage of current analogies, of course. Take Dogecoin, created as a joke with no fundamental value.\n As a recent Wall Street Journal article outlined, the Dogecoin ‘serves no purpose and, unlike Bitcoin, faces no limit on the number of coins that exist.’\nYet investors flock to it, for no other apparent reason than its sharp rise.\n Billy Markus, the co-creator of dogecoin, said to the Wall Street Journal, ‘This is absurd. I haven’t seen anything like it. It’s one of those things that once it starts going up, it might keep going up.’” – Mark Hulbert\n\nThat exuberance shows up with professionals as well. As of the end of April, the National Association Of Investment Managers asset allocation was 103%.\n\nAs Dana Lyons noted previously:\n\n “\n Regardless of the investment acumen of any group (we think it is very high among NAAIM members),\nonce the collective investment opinion or posture becomes too one-sided, it can be an indication that some market action may be necessary to correct such consensus.\n“\n\nGive Me More\nOf course, margin debt, which is the epitome of “speculative appetite,” soared in recent months.\n\nAs stated, “bubbles are about psychology,” which the annual rate of change of leverage shows.\n\nAnother form of leverage that doesn’t show up in margin debt is ETF’s structured to multiply market returns. These funds have seen record inflows in recent months.\n\nWith margin debt reaching levels not seen since the peak of the last cyclical bull market cycle, it should raise some concerns about sustainability. It is NOT the level of leverage that is the problem as leverage increases buying power as markets are rising. The unwinding of this leverage is critically dangerous in the market as the acceleration of“margin calls” leads to a vicious downward spiral.\nImportantly, this chart does not meanthat a massive market correction is imminent. It does suggest that leverage, and speculative risk-taking, are likely much further advanced than currently recognized.\nPushing Extremes\nPrices are ultimately affected by physics. Moving averages, trend lines, etc., all exert a gravitational pull on prices in both the short and long term. Like a rubber band, when prices get stretched too far in one direction, they have always eventually“reverted to the mean” in the most brutal of manners.\nThe chart below shows the long-term chart of the S&P 500 broken down by several measures: 2 and 3-standard deviations, valuations, relative strength, and deviations from the 3-year moving average. It is worth noting that both standard deviations and distance from the 3-year moving average are at a record.\nDuring the last 120-years, overvaluation and extreme deviations NEVER got resolved by markets going sideways.\n\nThe only missing ingredient for such a correction currently is simply a catalyst to put “fear” into an overly complacent marketplace. Anything from economic disruption, a credit-related crisis, or an unexpected exogenous shock could start the “panic for the exits.”\nConclusion\nThere is more than adequate evidence a “bubble” exists in markets once again. However, as Mark noted in his commentary:\n\n‘I have no idea whether the stock market is actually forming a bubble that’s about to break.\nBut I do know that many bulls are fooling themselves when they think a bubble can’t happen when there is such widespread concern. In fact, one of the distinguishing characteristics of a bubble is just that.”\n\nHowever, he concludes with the most important statement:\n\n“It’s important for all of us to be aware of this bubble psychology,\nbut especially if you’re a retiree or a near-retiree. That’s because, in that case, your investment horizon is far shorter than for those who are younger.\nTherefore, you are less able to recover from the deflation of a market bubble.”\n\nRead that statement again.\nMillennials are quick to dismiss the “Boomers” in the financial markets today for “not getting it.”\nNo, we get it. We have just been around long enough to know how these things eventually end.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136002590,"gmtCreate":1621982741110,"gmtModify":1704365334010,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/136002590","repostId":"2138193407","repostType":4,"isVote":1,"tweetType":1,"viewCount":276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196753406,"gmtCreate":1621125170405,"gmtModify":1704353014098,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/196753406","repostId":"2135605911","repostType":4,"isVote":1,"tweetType":1,"viewCount":825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198108960,"gmtCreate":1620943117250,"gmtModify":1704350727691,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/198108960","repostId":"1116555518","repostType":4,"isVote":1,"tweetType":1,"viewCount":457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107503286,"gmtCreate":1620519253245,"gmtModify":1704344461615,"author":{"id":"3581545771843484","authorId":"3581545771843484","name":"Ti82","avatar":"https://static.tigerbbs.com/9dcf97e9c0724dd0190ad03354b136c5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581545771843484","idStr":"3581545771843484"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/107503286","repostId":"1193602237","repostType":4,"repost":{"id":"1193602237","kind":"news","pubTimestamp":1620471120,"share":"https://ttm.financial/m/news/1193602237?lang=&edition=fundamental","pubTime":"2021-05-08 18:52","market":"us","language":"en","title":"U.S. hiring takes big step back as businesses scramble for workers, raw materials","url":"https://stock-news.laohu8.com/highlight/detail?id=1193602237","media":"reuters","summary":"U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in dema","content":"<p>U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in demand, unleashed by the reopening of the economy amid rapidly improving public health and massive financial help from the government.</p><p>The Labor Department's closely watched employment report on Friday will be the first to show the impact of the White House's $1.9 trillion COVID-19 pandemic rescue package, which was approved in March. It is likely to show the economy entered the second quarter with even greater momentum, firmly putting it on track this year for its best performance in almost four decades.</p><p>\"We are looking for a pretty good figure, reflecting the ongoing reopening we have seen,\" said James Knightley, chief international economist at ING in New York. \"With cash in people's pockets, economic activity is looking good and that should lead to more and more hiring right across the economy.\"</p><p>According to a Reuters survey of economists, nonfarm payrolls likely increased by 978,000 jobs last month after rising by 916,000 in March. That would leave employment about 7.5 million jobs below its peak in February 2020.</p><p>Twelve months ago, the economy purged a record 20.679 million jobs as it reeled from mandatory closures of nonessential businesses to slow the first wave of COVID-19 infections.</p><p>April's payrolls estimates range from as low as 656,000 to as high as 2.1 million jobs. New claims for unemployment benefits have dropped below 500,000 for the first-time since the pandemic started and job cuts announced by U.S.-based employers in April were the lowest in nearly 21 years.</p><p>Also arguing for another month of blockbuster job growth, consumers' perceptions of the labor market are the strongest in 13 months. But the pent-up demand, which contributed to the economy's 6.4% annualized growth pace in the first quarter, the second-fastest since the third quarter of 2003, has triggered shortages of labor and raw materials.</p><p>From manufacturing to restaurants, employers are scrambling for workers. A range of factors, including parents still at home caring for children, coronavirus-related retirements and generous unemployment checks, are blamed for the labor shortages.</p><p>\"While we do not expect that lack of workers will weigh noticeably on April employment, rehiring could become more difficult in coming months before expanded unemployment benefits expire in September,\" said Veronica Clark, an economist at Citigroup in New York.</p><p>Payroll gains were likely led by the leisure and hospitality industry as more high-contact businesses such as restaurants, bars and amusement parks reopen. Americans over the age of 16 are now eligible to receive the COVID-19 vaccine, leading states like New York, New Jersey and Connecticut to lift most of their coronavirus capacity restrictions on businesses.</p><p>BROAD EMPLOYMENT GAINS</p><p>Solid gains were also expected in manufacturing, despite a global semiconductor chip shortage, which has forced motor vehicle manufacturers to cut production. Strong housing demand likely boosted construction payrolls.</p><p>Government employment is also expected to have picked up as school districts hired more teachers following the resumption of in-person learning in many states.</p><p>Robust hiring is unlikely to have an impact on President Joe Biden's plan to spend another $4 trillion on education and childcare, middle- and low-income families, infrastructure and jobs. Neither was it expected to influence monetary policy, with the Federal Reserve having signaled it is prepared to let the economy run hotter than it did in previous cycles.</p><p>Millions of Americans remain out of work and many have permanently lost jobs because of the pandemic.</p><p>\"Nobody knows what the economy is going to look like post COVID,\" said Steven Blitz, chief U.S. economist at TS Lombard in New York. \"There is a stubbornly high number of people who have been permanently displaced. The (spending) plans are about giving the economy a higher trajectory of growth so that these people can be hired sooner rather than later.\"</p><p>The unemployment rate is forecast dropping to 5.8% in April from 6.0% in March. The unemployment rate has been understated by people misclassifying themselves as being \"employed but absent from work.\"</p><p>To gauge the recovery, economists will focus on the number of people who have been unemployed for more than six months as well as those out of work because of permanent job losses.</p><p>The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, likely improved last month, though it remained below its pre-pandemic level. More than 4 million people, many of them women, dropped out of the labor force during the pandemic.</p><p>With the lower-wage leisure and hospitality industry expected to dominate employment gains, average hourly earnings were likely unchanged in April after dipping 0.1% in March. That would lead to a 0.4% drop in wages on a year-on-year basis after a 4.2% increase in March.</p><p>\"We will be watching average hourly earnings very closely for signs that difficulty in hiring qualified workers is beginning to boost compensation,\" said David Kelly, chief global strategist at J.P. Morgan Asset Management in New York.</p><p>\"If tightening labor markets boost wage growth, then the inflation bounce which the Fed is anticipating to be modest and transitory could turn out to be stronger and longer-lasting, leading to earlier Fed tightening.\"</p><p>The anticipated drop in wages will have no impact on consumer spending, with Americans sitting on more than $2 trillion in excess savings. The average workweek was forecast steady at 34.9 hours.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. hiring takes big step back as businesses scramble for workers, raw materials</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. hiring takes big step back as businesses scramble for workers, raw materials\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-08 18:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/markets><strong>reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in demand, unleashed by the reopening of the economy amid rapidly improving public health and massive ...</p>\n\n<a href=\"https://www.reuters.com/markets\">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.reuters.com/markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193602237","content_text":"U.S. employers likely hired nearly a million workers in April as they rushed to meet a surge in demand, unleashed by the reopening of the economy amid rapidly improving public health and massive financial help from the government.The Labor Department's closely watched employment report on Friday will be the first to show the impact of the White House's $1.9 trillion COVID-19 pandemic rescue package, which was approved in March. It is likely to show the economy entered the second quarter with even greater momentum, firmly putting it on track this year for its best performance in almost four decades.\"We are looking for a pretty good figure, reflecting the ongoing reopening we have seen,\" said James Knightley, chief international economist at ING in New York. \"With cash in people's pockets, economic activity is looking good and that should lead to more and more hiring right across the economy.\"According to a Reuters survey of economists, nonfarm payrolls likely increased by 978,000 jobs last month after rising by 916,000 in March. That would leave employment about 7.5 million jobs below its peak in February 2020.Twelve months ago, the economy purged a record 20.679 million jobs as it reeled from mandatory closures of nonessential businesses to slow the first wave of COVID-19 infections.April's payrolls estimates range from as low as 656,000 to as high as 2.1 million jobs. New claims for unemployment benefits have dropped below 500,000 for the first-time since the pandemic started and job cuts announced by U.S.-based employers in April were the lowest in nearly 21 years.Also arguing for another month of blockbuster job growth, consumers' perceptions of the labor market are the strongest in 13 months. But the pent-up demand, which contributed to the economy's 6.4% annualized growth pace in the first quarter, the second-fastest since the third quarter of 2003, has triggered shortages of labor and raw materials.From manufacturing to restaurants, employers are scrambling for workers. A range of factors, including parents still at home caring for children, coronavirus-related retirements and generous unemployment checks, are blamed for the labor shortages.\"While we do not expect that lack of workers will weigh noticeably on April employment, rehiring could become more difficult in coming months before expanded unemployment benefits expire in September,\" said Veronica Clark, an economist at Citigroup in New York.Payroll gains were likely led by the leisure and hospitality industry as more high-contact businesses such as restaurants, bars and amusement parks reopen. Americans over the age of 16 are now eligible to receive the COVID-19 vaccine, leading states like New York, New Jersey and Connecticut to lift most of their coronavirus capacity restrictions on businesses.BROAD EMPLOYMENT GAINSSolid gains were also expected in manufacturing, despite a global semiconductor chip shortage, which has forced motor vehicle manufacturers to cut production. Strong housing demand likely boosted construction payrolls.Government employment is also expected to have picked up as school districts hired more teachers following the resumption of in-person learning in many states.Robust hiring is unlikely to have an impact on President Joe Biden's plan to spend another $4 trillion on education and childcare, middle- and low-income families, infrastructure and jobs. Neither was it expected to influence monetary policy, with the Federal Reserve having signaled it is prepared to let the economy run hotter than it did in previous cycles.Millions of Americans remain out of work and many have permanently lost jobs because of the pandemic.\"Nobody knows what the economy is going to look like post COVID,\" said Steven Blitz, chief U.S. economist at TS Lombard in New York. \"There is a stubbornly high number of people who have been permanently displaced. The (spending) plans are about giving the economy a higher trajectory of growth so that these people can be hired sooner rather than later.\"The unemployment rate is forecast dropping to 5.8% in April from 6.0% in March. The unemployment rate has been understated by people misclassifying themselves as being \"employed but absent from work.\"To gauge the recovery, economists will focus on the number of people who have been unemployed for more than six months as well as those out of work because of permanent job losses.The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, likely improved last month, though it remained below its pre-pandemic level. More than 4 million people, many of them women, dropped out of the labor force during the pandemic.With the lower-wage leisure and hospitality industry expected to dominate employment gains, average hourly earnings were likely unchanged in April after dipping 0.1% in March. That would lead to a 0.4% drop in wages on a year-on-year basis after a 4.2% increase in March.\"We will be watching average hourly earnings very closely for signs that difficulty in hiring qualified workers is beginning to boost compensation,\" said David Kelly, chief global strategist at J.P. Morgan Asset Management in New York.\"If tightening labor markets boost wage growth, then the inflation bounce which the Fed is anticipating to be modest and transitory could turn out to be stronger and longer-lasting, leading to earlier Fed tightening.\"The anticipated drop in wages will have no impact on consumer spending, with Americans sitting on more than $2 trillion in excess savings. The average workweek was forecast steady at 34.9 hours.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":618,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}