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Terriber

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2022-01-28

Join in the fun!

@TigerEvents:Join Tiger Ski Championship, Win a Bonus of Up to USD 2022

2021-08-11

[Miser] pretty crazy

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2021-08-11

Nice

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2021-08-06

Interesting proposition

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2021-07-07

It’s time

BlackRock downgrades U.S. stocks, says reopening momentum is peaking

2021-07-07

[What]

Sorry, the original content has been removed

2021-06-28

[Happy]

Nvidia’s Planned Arm Takeover Gets Boost From Chip Giants

2021-06-27

[Surprised]

GameStop Joined the Russell 1000. The Move Might Hurt the Stock.

2021-06-26

[LOL]

Bitcoin falls 8.5% to $31,700

2021-06-18

[Grin]

Alibaba: One Of The Really Cheap Bargains In This Market

2021-06-17

Not quite unexpected

Wall Street closes lower as Fed officials project rate hikes for 2023

Go to Tiger App to see more news

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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\">\nBlackRock downgrades U.S. stocks, says reopening momentum is peaking\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-07 23:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/07/blackrock-downgrades-us-stocks-says-reopening-momentum-is-peaking.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As the reopening momentum of the U.S. economy nears a peak, investors should look elsewhere for the best opportunities, according to BlackRock.\nThe massive asset manager released a mid-year report on ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/07/blackrock-downgrades-us-stocks-says-reopening-momentum-is-peaking.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/07/07/blackrock-downgrades-us-stocks-says-reopening-momentum-is-peaking.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1118316014","content_text":"As the reopening momentum of the U.S. economy nears a peak, investors should look elsewhere for the best opportunities, according to BlackRock.\nThe massive asset manager released a mid-year report on Wednesday and downgraded U.S. stocks to neutral, saying that the reopening trade was largely played out in the domestic markets and that the growth from the economic revival was peaking.\n“We see potential for cyclical shares and regions to benefit from a broadening restart. We are turning positive on European equities and upgrading Japanese equities to neutral – and cut U.S. equities to neutral,” the report said.\nThe U.S. market boomed in the first half of the year, with the S&P 500 jumped 14.4% in six months. The broad market index also reeled off seven-straight record closing highs before retreating slightly on Tuesday.\nHowever, investors should be concerned about the potential for an increase in interest rates and the possibility of higher taxes, BlackRock said, while noting that small caps could still outperform.\n“In the near term, we see U.S. large cap equities as exposed to risks of higher taxes and tighter regulations. … We see potential in small- and mid-cap U.S. companies amid a vaccine-led domestic rebound in activity,” the report said.\nBlackRock’s call adds to a growing trepidation on Wall Street. Strategists from major firms, including Morgan Stanley and Goldman Sachs, are warning that themarket may now be fully valuedand set to move sideways or even pull back in the months ahead.\nSome measures of economic expansion, such as manufacturing data, have also suggested that the U.S. recovery has lost some of its momentum, though growth is still above pre-pandemic levels.\nBlackRock does have on underweight rating on U.S. Treasuries and expects bond yields to rise once again.","news_type":1},"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140704903,"gmtCreate":1625671401802,"gmtModify":1703746215260,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581750430248568","idStr":"3581750430248568"},"themes":[],"htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/140704903","repostId":"1128775379","repostType":4,"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127231631,"gmtCreate":1624850163223,"gmtModify":1703846162054,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581750430248568","idStr":"3581750430248568"},"themes":[],"htmlText":"[Happy]&nbsp;","listText":"[Happy]&nbsp;","text":"[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127231631","repostId":"1102536611","repostType":4,"repost":{"id":"1102536611","kind":"news","pubTimestamp":1624844282,"share":"https://ttm.financial/m/news/1102536611?lang=&edition=fundamental","pubTime":"2021-06-28 09:38","market":"us","language":"en","title":"Nvidia’s Planned Arm Takeover Gets Boost From Chip Giants","url":"https://stock-news.laohu8.com/highlight/detail?id=1102536611","media":"Bloomberg","summary":"Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.Broadcom Corp.,MediaTek Inc.and Marvell Technology Group Ltd. are the first customers of the Cambridge, U.K.-based Arm to publicly support the takeover, which has raised concerns on national security grounds, the Sunday Times reported.The endorsement comes as the U.K. Competition and Markets Authority prepares t","content":"<p>Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group&nbsp;Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.</p>\n<p>Broadcom Corp.,MediaTek Inc.and Marvell Technology Group Ltd. are the first customers of the Cambridge, U.K.-based Arm to publicly support the takeover, which has raised concerns on national security grounds, the Sunday Times reported.</p>\n<p>The endorsement comes as the U.K. Competition and Markets Authority prepares to deliver a review that may oppose the takeover. The potential deal is also being reviewed in the U.S., European Union and China.</p>\n<p>RivalQualcomm Inc.and tech giants including Microsoft Corp. have voiced fears that Nvidia could limit the supply of the company’s technology to its competitors or raise prices. Arm, which is being sold by Japan’sSoftBank Group Corp., offers its designs to more than 500 companies that make their own chips.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia’s Planned Arm Takeover Gets Boost From Chip Giants</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\">\nNvidia’s Planned Arm Takeover Gets Boost From Chip Giants\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 09:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-27/nvidia-s-planned-arm-takeover-gets-boost-from-chip-giants><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.\nBroadcom ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-27/nvidia-s-planned-arm-takeover-gets-boost-from-chip-giants\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-27/nvidia-s-planned-arm-takeover-gets-boost-from-chip-giants","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102536611","content_text":"Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.\nBroadcom Corp.,MediaTek Inc.and Marvell Technology Group Ltd. are the first customers of the Cambridge, U.K.-based Arm to publicly support the takeover, which has raised concerns on national security grounds, the Sunday Times reported.\nThe endorsement comes as the U.K. Competition and Markets Authority prepares to deliver a review that may oppose the takeover. The potential deal is also being reviewed in the U.S., European Union and China.\nRivalQualcomm Inc.and tech giants including Microsoft Corp. have voiced fears that Nvidia could limit the supply of the company’s technology to its competitors or raise prices. Arm, which is being sold by Japan’sSoftBank Group Corp., offers its designs to more than 500 companies that make their own chips.","news_type":1},"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124828779,"gmtCreate":1624759360391,"gmtModify":1703844532490,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581750430248568","idStr":"3581750430248568"},"themes":[],"htmlText":"[Surprised]&nbsp;","listText":"[Surprised]&nbsp;","text":"[Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/124828779","repostId":"1172710941","repostType":4,"repost":{"id":"1172710941","kind":"news","pubTimestamp":1624753126,"share":"https://ttm.financial/m/news/1172710941?lang=&edition=fundamental","pubTime":"2021-06-27 08:18","market":"us","language":"en","title":"GameStop Joined the Russell 1000. The Move Might Hurt the Stock.","url":"https://stock-news.laohu8.com/highlight/detail?id=1172710941","media":"Barrons","summary":"The Reddit army has succeeded in launching GameStop to a new stratosphere—but it could actually hurt the stock in the short-term.The videogame retailer officially made it into the Russell 1000 index,FTSE Russell announced on Saturday. The Russell 1000 tracks large-capitalization stocks—and in order to be included in the latest index reconstitution, stocks had to have market caps of at least $7.3 billion on May 7.As one of the stocks favored by retail traders this year, GameStop  met that thresho","content":"<p>The Reddit army has succeeded in launching&nbsp;GameStop&nbsp;to a new stratosphere—but it could actually hurt the stock in the short-term.</p>\n<p>The videogame retailer officially made it into the&nbsp;Russell 1000 index,FTSE Russell announced on Saturday. The Russell 1000 tracks large-capitalization stocks—and in order to be included in the latest index reconstitution, stocks had to have market caps of at least $7.3 billion on May 7.</p>\n<p>As one of the&nbsp;stocks favored by retail traders this year, GameStop (ticker: GME) met that threshold because it had an $11.2 billion market cap by the deadline, while&nbsp;AMC Entertainment(AMC) didn’t. That said, AMC has rocketed higher since May 7, multiplying by more than five times and surpassing GameStop’s market value—hitting a recent $27 billion compared to GameStop’s $15 billion.</p>\n<p>It may seem counterintuitive, but the Russell 1000 “promotion” may actually be bad for GameStop’s stock,as&nbsp;Barron’s&nbsp;explained earlier this month.Funds that track the small-capRussell 2000will have to sell GameStop shares on June 28, and funds that track the Russell 1000 will have to buy them. Three times as much money is invested in funds that track the Russell 1000, but GameStop’s overall weight in that index will be much lower than it has been in the Russell 2000. In the Russell 2000, GameStop made up about half a percentage point of the index, while it will be less than 0.1% of the Russell 1000. GameStop will look tiny next to behemoths like&nbsp;Apple(AAPL).</p>\n<p>Experts like Jefferies strategist Steven DeSanctis expect that there will be net selling in GameStop of about 5 million shares, or about half of the stock’s recent average daily volume, after the rebalancing.</p>\n<p>Meanwhile, AMC will be the largest member of the Russell 2000 by far—more than three times as large as its nearest competitor as of last week. See the full post-rebalancing list of Russell 1000 stocks&nbsp;<a href=\"https://content.ftserussell.com/sites/default/files/ru1000_membershiplist_20210628.pdf\" target=\"_blank\">here</a>&nbsp;and Russell 2000 stocks&nbsp;<a href=\"https://content.ftserussell.com/sites/default/files/ru2000_membershiplist_20210628.pdf\" target=\"_blank\">here</a>.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop Joined the Russell 1000. The Move Might Hurt the Stock.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop Joined the Russell 1000. The Move Might Hurt the Stock.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-27 08:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/gamestop-stock-russell-1000-51624729113?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Reddit army has succeeded in launching GameStop to a new stratosphere—but it could actually hurt the stock in the short-term.\nThe videogame retailer officially made it into the Russell 1000 index,...</p>\n\n<a href=\"https://www.barrons.com/articles/gamestop-stock-russell-1000-51624729113?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-stock-russell-1000-51624729113?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172710941","content_text":"The Reddit army has succeeded in launching GameStop to a new stratosphere—but it could actually hurt the stock in the short-term.\nThe videogame retailer officially made it into the Russell 1000 index,FTSE Russell announced on Saturday. The Russell 1000 tracks large-capitalization stocks—and in order to be included in the latest index reconstitution, stocks had to have market caps of at least $7.3 billion on May 7.\nAs one of the stocks favored by retail traders this year, GameStop (ticker: GME) met that threshold because it had an $11.2 billion market cap by the deadline, while AMC Entertainment(AMC) didn’t. That said, AMC has rocketed higher since May 7, multiplying by more than five times and surpassing GameStop’s market value—hitting a recent $27 billion compared to GameStop’s $15 billion.\nIt may seem counterintuitive, but the Russell 1000 “promotion” may actually be bad for GameStop’s stock,as Barron’s explained earlier this month.Funds that track the small-capRussell 2000will have to sell GameStop shares on June 28, and funds that track the Russell 1000 will have to buy them. Three times as much money is invested in funds that track the Russell 1000, but GameStop’s overall weight in that index will be much lower than it has been in the Russell 2000. In the Russell 2000, GameStop made up about half a percentage point of the index, while it will be less than 0.1% of the Russell 1000. GameStop will look tiny next to behemoths like Apple(AAPL).\nExperts like Jefferies strategist Steven DeSanctis expect that there will be net selling in GameStop of about 5 million shares, or about half of the stock’s recent average daily volume, after the rebalancing.\nMeanwhile, AMC will be the largest member of the Russell 2000 by far—more than three times as large as its nearest competitor as of last week. See the full post-rebalancing list of Russell 1000 stocks here and Russell 2000 stocks here.","news_type":1},"isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125648697,"gmtCreate":1624673018919,"gmtModify":1703843292952,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581750430248568","idStr":"3581750430248568"},"themes":[],"htmlText":"[LOL]&nbsp;","listText":"[LOL]&nbsp;","text":"[LOL]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125648697","repostId":"2146500392","repostType":4,"repost":{"id":"2146500392","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":1624658618,"share":"https://ttm.financial/m/news/2146500392?lang=&edition=fundamental","pubTime":"2021-06-26 06:03","market":"us","language":"en","title":"Bitcoin falls 8.5% to $31,700","url":"https://stock-news.laohu8.com/highlight/detail?id=2146500392","media":"Reuters","summary":"June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from","content":"<p>June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from its previous close.</p>\n<p>Bitcoin, the world's biggest and best-known cryptocurrency, is up 14.3% from the year's low of $27,734 on Jan. 4.</p>\n<p>Ether, the coin linked to the ethereum blockchain network, dropped 7.37 % to $1,843.07 on Friday, losing $146.56 from its previous close.</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>Bitcoin falls 8.5% to $31,700</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; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin falls 8.5% to $31,700\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\">2021-06-26 06:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from its previous close.</p>\n<p>Bitcoin, the world's biggest and best-known cryptocurrency, is up 14.3% from the year's low of $27,734 on Jan. 4.</p>\n<p>Ether, the coin linked to the ethereum blockchain network, dropped 7.37 % to $1,843.07 on Friday, losing $146.56 from its previous close.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146500392","content_text":"June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from its previous close.\nBitcoin, the world's biggest and best-known cryptocurrency, is up 14.3% from the year's low of $27,734 on Jan. 4.\nEther, the coin linked to the ethereum blockchain network, dropped 7.37 % to $1,843.07 on Friday, losing $146.56 from its previous close.","news_type":1},"isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166136071,"gmtCreate":1623995647193,"gmtModify":1703826066719,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581750430248568","idStr":"3581750430248568"},"themes":[],"htmlText":"[Grin]&nbsp;","listText":"[Grin]&nbsp;","text":"[Grin]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166136071","repostId":"1138216687","repostType":2,"repost":{"id":"1138216687","kind":"news","pubTimestamp":1622552095,"share":"https://ttm.financial/m/news/1138216687?lang=&edition=fundamental","pubTime":"2021-06-01 20:54","market":"hk","language":"en","title":"Alibaba: One Of The Really Cheap Bargains In This Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1138216687","media":"seekingalpha","summary":"Alibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.The company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.Alibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.So far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United Sta","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.</li>\n <li>The company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.</li>\n <li>Alibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.</li>\n <li>In my opinion, the stock is severely undervalued.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15ac5f97c66688f6d16ce98819ebce4a\" tg-width=\"768\" tg-height=\"512\"><span>Photo by maybefalse/iStock Unreleased via Getty Images</span></p>\n<p>So far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United States and stocks listed on an US-based stock exchange. And while I am covering also companies from Germany, France, Great Britain, Sweden or Denmark, I have avoided one country almost completely although it has many interesting investment opportunities: Mainland China.The only company I covered so far&nbsp;is Tencent Holdings Limited (OTCPK:TCEHY).</p>\n<p>And although China has hundreds or thousands of successful companies, most of them are almost unknown in the Western Hemisphere (especially when moving outside of the investing world). And while most investors are familiar with Tencent, there is at least one other company almost every investor has heard of: Alibaba Group Holding Limited (BABA). In the following article, I will analyze Alibaba in my usual way. I will try to determine if Alibaba is a solid business with a wide economic moat and try to answer the question if Alibaba is a solid investment right now.</p>\n<p><b>Business Description</b></p>\n<p>Alibaba Group was founded in 1999 by 18 individuals. Nevertheless, one of these 18 stands out – the former English teacher from Hangzhou, Jack Ma. Over the years, Alibaba evolved in a multinational technology company and with a market capitalization of $570 billion, Alibaba is on the 10thspot on the list of most valuable companies in the world (by market cap). And behind Tencent, which is on the 7thspot on that list, Alibaba is the second most valuable company in China.</p>\n<p>While Alibaba is mostly focused on e-commerce and retail operations, the Alibaba Group is actually a holding company with many different sales services. This includes C2C services, B2C services and B2B services. Aside from retail, the Alibaba Group also offers electronic payment services, shipping search engines and could computing services. The group owns and operates a diverse portfolio of companies around the world in numerous business sectors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b315044f4644568e7df5d95cc6720995\" tg-width=\"640\" tg-height=\"479\"><span>(Source:Alibaba Q4/20 Presentation)</span></p>\n<p>Alibaba is reporting in four different segments:</p>\n<ul>\n <li><b>Core Commerce Revenue</b>: This segment is comprised of platforms operating in retail and wholesale commerce in China as well as logistics services and local consumer services. In fiscal 2021, this segment generated RMB 621.1 billion in revenue and RMB 159 billion in income from operations.</li>\n <li><b>Cloud Computing Revenue</b>: This segment is comprised of Alibaba Cloud, which offers different cloud services to customers worldwide like database, storage, big data analytics, a machine learning platform and large-scale computing security. In fiscal 2021, this segment generated RMB 60.1 billion, but the segment was not profitable so far (a loss of RMB 9 billion).</li>\n <li><b>Digital Media and Entertainment Revenue</b>: This segment uses the deep data insights to serve the broader interests of consumers through key distribution platforms Youku and Alibaba Pictures as well as other content platforms that provide online videos, films, live events, literature and music. In fiscal 2021, this segment generated RMB 31.2 billion, but was also not profitable.</li>\n <li><b>Innovation Initiatives and Others Revenue</b>: This segment includes businesses like Amap, DingTalk, Tmall Genie and others. In fiscal 2021, this segment generated RMB 4.8 billion in revenue, but also an operating loss.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0529c547e87a4c0b023289ecb1822cbc\" tg-width=\"640\" tg-height=\"478\"><span>(Source: Alibaba Q4/20 Presentation)</span></p>\n<p>When looking at the last annual results (fiscal 2021), Alibaba generated RMB 717.3 billion in revenue. Compared to fiscal 2020 (RMB 509.7 billion) this is reflecting an increase of 41%. Adjusted EBITDA in fiscal 2021 was RMB 196.8 billion – an increase of 25% compared to fiscal 2020 (adjusted EBITA of RMB 157.7 billion). Diluted earnings per share actually decreased from RMB 6.99 in fiscal 2020 to RMB 6.84 in fiscal 2021 – reflecting a decrease of 2.1%. But we should not pay too much attention to the earnings per share. Instead, it makes much more sense to look at the free cash flow Alibaba is generating. In fiscal 2021, Alibaba generated RMB 172.7 billion in free cash flow compared to RMB 130.9 billion in free cash flow one year earlier.</p>\n<p><b>Strong Business Among Strong Competitors</b></p>\n<p>What is striking when looking at Alibaba – and what has been discussed several times – is the low multiple for which Alibaba is currently trading. When using the trailing twelve-month GAAP numbers, Alibaba is trading for 25 times earnings, when using the non-GAAP forward numbers, it is trading for a P/E ratio of 20.</p>\n<p>We can compare Alibaba to its peers – companies like Amazon (AMZN), Tencent, Facebook (FB), Microsoft (MSFT) or Alphabet (GOOG). And Alibaba actually belongs in that list as it is not only operating in similar business segments, but it is also growing with similarly high rates. And Alibaba is not only growing with a similar pace; it is actually outperforming most of its peers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b576dcef2e37a02a6eba5677fded8ef8\" tg-width=\"640\" tg-height=\"299\"><span>(Source:Alibaba 2020 Investor Presentations)</span></p>\n<p>While Alibaba is growing with a similar pace like these companies, it is trading for a completely different multiple. Right now, Alibaba is trading for a price-cash-flow ratio of 17, while competitors like Tencent, Facebook or Microsoft are trading for a P/FCF ratio between 35 and 40. It is striking, that the market is assigning these competitors a multiple twice as high and Amazon is actually trading for a multiple more than 4 times higher (price-free-cash-flow ratio of 76).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6d2f58771a8062c7bb980622b93073e5\" tg-width=\"635\" tg-height=\"470\"><span>Data by YCharts</span></p>\n<p>Right now, readers might point out, that the comparison to Amazon is misleading as Amazon is still spending a lot of money to achieve future growth and therefore has a lower profit than other companies. And it certainly is true, that Amazon is still focusing on top line growth – sometimes at the expense of bottom-line growth – but so does Alibaba.</p>\n<p>While Amazon spent 10.4% of its revenue as capital expenditures in the last fiscal year, Alibaba spent almost the same amount – 8.9% of revenue. And when looking at the expenses for research and development, we once again see similar numbers. In the last five years, Amazon spent 12.16% of revenue on R&amp;D on average while Alibaba spent 10.38% of its revenue on R&amp;D.</p>\n<p>But while these numbers are quite similar for both companies – Amazon is spending a bit more on R&amp;D than Alibaba – the free cash flow these two companies can generate is completely different. While Amazon only generated 6.7% of revenue as free cash flow in the last fiscal year, Alibaba generated 26.5% of revenue as free cash flow in the last fiscal year – almost four times higher.</p>\n<p>And Alibaba is not only extremely profitable – it was growing with an extremely high pace in the past. During the past ten years, Alibaba could not only grow revenue every single year, it also grew revenue with a CAGR of 62.6%. Earnings per share fluctuated a little bit during these ten years but grew with an even higher pace – a CAGR of 76.29% during the last decade. And finally, free cash flow increased with a CAGR of 59.62% during the last decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3ccaf170c0d86cd8022a68bc3657c30\" tg-width=\"640\" tg-height=\"404\"><span>(Source: Author’s work based on numbers from Morningstar)</span></p>\n<p>When looking at Alibaba’s growth rates in the last few years compared to its competitors, Alibaba is also outperforming. When looking at the revenue CAGR of the last 5 years, we get the following numbers:</p>\n<ul>\n <li>Amazon: 29.26%</li>\n <li>Facebook: 36.82%</li>\n <li>Tencent: 36.20%</li>\n <li>Alphabet: 19.47%</li>\n <li>Microsoft: 8.85%</li>\n <li>Alibaba: 46.24%</li>\n</ul>\n<p>We can spin it how we want: Alibaba is an extremely profitable company growing with extremely high rates but is trading at an extremely low multiple compared to its competitors. It is growing with a higher pace than Microsoft and Facebook, but trading for half the multiple. It is much more profitable than Amazon and also growing at a higher pace, but trading for a quarter of the valuation multiple. At this point, profitability and growth of Alibaba on the one side and the valuation multiple on the other side does not add up. And we have to ask the question, why Alibaba is trading for such a low multiple although it is outperforming many of its peers that trade for much higher multiples.</p>\n<p><b>Risks</b></p>\n<p>When looking at the past performance of Alibaba, we can see, that steep selloffs are quite common as a similar sell-off happened already three times since the IPO in 2014 with the steepest sell-off being more than 50% off the previous high.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4da83a08f0dcfc73534c206e43cb09d3\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p>\n<p>While this might help us a bit, we are still facing high levels of uncertainty and investors usually don’t like uncertainty. Basically, this uncertainty can be summed up in one short sentence: The tense relationship between Alibaba’s founder Jack Ma and the Chinese government is worrying for investors. And this tense relationship is exemplified by several events. It started last year, when the IPO of the company’s fintech affiliate Ant Financial was cancelled. </p>\n<p>This was followed by theinitiation of an antitrust investigation, in which it is investigated if Alibaba had engaged in monopolistic practices (like preventing vendors from selling on other platforms). Additionally, new supervision for Ant Group was also discussed. And finally, at the end of 2020, Jack Ma went missing and it took about three months before the public would hear from him again – another worrying aspect for investors.</p>\n<p>As long as we are talking about risks, there are other aspect I like to mention. I compared Alibaba to Amazon above – and I still think that comparison is appropriate. But we also have to acknowledge, that Alibaba growth potential is limited as the company is mostly focused on China and might have more difficulties to expand globally – compared to Amazon. But considering the growing middle class in China and the high pace with which the economy is still growing we should not worry too much about Alibaba’s growth potential.</p>\n<p>There is a final risk Imentioned in my last article about Tencentand that risk is also applying to Alibaba:</p>\n<blockquote>\n And a final risk is the fact that Tencent is a Chinese company. It is especially difficult to understand different trends before they are happening and predict the future, but while I am familiar with the German culture and the people (habits, preferences, etc.) and can deal with similar countries like France, the United Kingdom, Sweden or the United States, it is rather difficult for me to understand and analyze the consumer behavior and preferences of the Chinese population. This makes it difficult to assess the potential and development of the products and services Tencent offers.\n</blockquote>\n<p>But despite all these issues, there is a comparison I like very much. Very recently,one of my fellow contributorscompared Alibaba’s situation right now to Facebook a few years ago, when it was facing the Cambridge Analytics scandal and also trading for extremely low multiples due to the uncertainties. And it is also interesting, that Wall Street analysts as well as Seeking Alpha contributors are extremely bullish about Alibaba right now.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44d2ece5c1460e539c9fd4fb4ba63bf7\" tg-width=\"640\" tg-height=\"195\"><span>(Source:Seeking Alpha)</span></p>\n<p><b>Balance Sheet</b></p>\n<p>When facing challenges, it is especially reassuring if we are dealing with a solid balance sheet enabling the company to withstand challenges and stormy market conditions. And similar to many companies mentioned above – like Facebook or Alphabet – Alibaba also has a great balance sheet. We don’t have to worry about high debt levels although Alibaba has current bank borrowings of RMB 3.6 billion and non-current bank borrowings of RMB 38.3 billion on its balance sheet. But compared to a total equity of RMB 1,075 billion, we get a D/E ratio of 0.04, which is negligible. Aside from the debt, the biggest problem is probably the company’s goodwill. On March 31, 2021, Alibaba had RMB 292.8 billion in goodwill. This means, that 17.3% of total assets (RMB 1,690 billion) is goodwill.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/532919e61e3feb83d46cbce44e3f3c42\" tg-width=\"640\" tg-height=\"354\"><span>(Source:Alibaba Q4/21 Earnings Release)</span></p>\n<p>But aside from goodwill, Alibaba also has RMB 321.3 billion in cash and cash equivalents as well as RMB 152.4 billion in short-term investments on its balance sheet. Aside from these rather liquid assets, Alibaba also has RMB 237.2 billion in equity securities and other investments, that are also worth mentioning. I included a screenshot of the latest balance sheet, which is also including the numbers in US$. Especially $72 billion in very liquid assets give Alibaba a lot of “financial power” and the ability to negative troubles.</p>\n<p><b>Intrinsic Value Calculation</b></p>\n<p>I already mentioned above that Alibaba is trading at rather low multiples – at least when compared to its peers and especially for a company growing with a high pace. And compared to the company’s history, the stock is right now trading almost for its lowest P/FCF ratio since the IPO. A few times – in 2016, 2018 and 2020 – the stock was trading at a similar low P/FCF ratio. From that point of view, Alibaba has to be considered extremely cheap.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d1da4ac18557b21c43feb2a338de9a3b\" tg-width=\"640\" tg-height=\"221\"><span>(Source:Seeking Alpha Charting)</span></p>\n<p>When you are familiar with my past articles, you know that I don’t just use valuation multiples but also a discount cash flow analysis, which is considered to be much more precise (although we have to make a lot more assumptions). When taking the free cash flow of fiscal 2021 (RMB 172.7 billion) as basis, Alibaba has to grow about 5.5% annually from now till perpetuity for the stock to be fairly valued (the intrinsic value is RMB 1,367; discount rate 10%).</p>\n<p>Instead, we can also calculate with more realistic growth rates. If we assume, that Alibaba won’t go under, we have to assume at least 20% growth for the next year. Let’s be rather pessimistic and assume, that growth will slowly decline over the next decade and in 10 years from now, the growth rate will only be 6% till perpetuity. When using these numbers, we get an intrinsic value of&nbsp;<b>RMB 2,596</b>. And we have to assume, that these growth assumptions are rather cautious for a company like Alibaba.</p>\n<p><b>Conclusion</b></p>\n<p>So far, we talked about risks, about past growth rates, compared Alibaba to its peers and provided an intrinsic value calculation. I also wanted to write about the growth potential as well as the wide economic moat, that Alibaba has without any doubt – similar toAmazon,FacebookorTencent. But the article would probably be too long then. Instead, I included links to three articles in which I described the economic moat of these businesses.</p>\n<p>When summing up, it is quite simple. When we assume, that Alibaba is in serious trouble and might be brought down in some way or is facing troubles, that will seriously mess with the company’s ability to grow, we should not invest in Alibaba. These risks are present, and we actually don’t know what could happen in the coming quarters (or years). However, I consider it extremely unlikely, that China will destroy its second most-valuable company. If we assume on the other side, that this is just a small hick-up and troubles Alibaba can work through in the coming quarters and Alibaba will continue to perform in a similar way as in the past (even with growth rates slowing down), Alibaba is probably one of the most undervalued stocks out there and an extreme bargain.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: One Of The Really Cheap Bargains In This Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba: One Of The Really Cheap Bargains In This Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 20:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.\nThe company is clearly facing risks due to the tension between Jack Ma and the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1138216687","content_text":"Summary\n\nAlibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.\nThe company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.\nAlibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.\nIn my opinion, the stock is severely undervalued.\n\nPhoto by maybefalse/iStock Unreleased via Getty Images\nSo far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United States and stocks listed on an US-based stock exchange. And while I am covering also companies from Germany, France, Great Britain, Sweden or Denmark, I have avoided one country almost completely although it has many interesting investment opportunities: Mainland China.The only company I covered so far is Tencent Holdings Limited (OTCPK:TCEHY).\nAnd although China has hundreds or thousands of successful companies, most of them are almost unknown in the Western Hemisphere (especially when moving outside of the investing world). And while most investors are familiar with Tencent, there is at least one other company almost every investor has heard of: Alibaba Group Holding Limited (BABA). In the following article, I will analyze Alibaba in my usual way. I will try to determine if Alibaba is a solid business with a wide economic moat and try to answer the question if Alibaba is a solid investment right now.\nBusiness Description\nAlibaba Group was founded in 1999 by 18 individuals. Nevertheless, one of these 18 stands out – the former English teacher from Hangzhou, Jack Ma. Over the years, Alibaba evolved in a multinational technology company and with a market capitalization of $570 billion, Alibaba is on the 10thspot on the list of most valuable companies in the world (by market cap). And behind Tencent, which is on the 7thspot on that list, Alibaba is the second most valuable company in China.\nWhile Alibaba is mostly focused on e-commerce and retail operations, the Alibaba Group is actually a holding company with many different sales services. This includes C2C services, B2C services and B2B services. Aside from retail, the Alibaba Group also offers electronic payment services, shipping search engines and could computing services. The group owns and operates a diverse portfolio of companies around the world in numerous business sectors.\n(Source:Alibaba Q4/20 Presentation)\nAlibaba is reporting in four different segments:\n\nCore Commerce Revenue: This segment is comprised of platforms operating in retail and wholesale commerce in China as well as logistics services and local consumer services. In fiscal 2021, this segment generated RMB 621.1 billion in revenue and RMB 159 billion in income from operations.\nCloud Computing Revenue: This segment is comprised of Alibaba Cloud, which offers different cloud services to customers worldwide like database, storage, big data analytics, a machine learning platform and large-scale computing security. In fiscal 2021, this segment generated RMB 60.1 billion, but the segment was not profitable so far (a loss of RMB 9 billion).\nDigital Media and Entertainment Revenue: This segment uses the deep data insights to serve the broader interests of consumers through key distribution platforms Youku and Alibaba Pictures as well as other content platforms that provide online videos, films, live events, literature and music. In fiscal 2021, this segment generated RMB 31.2 billion, but was also not profitable.\nInnovation Initiatives and Others Revenue: This segment includes businesses like Amap, DingTalk, Tmall Genie and others. In fiscal 2021, this segment generated RMB 4.8 billion in revenue, but also an operating loss.\n\n(Source: Alibaba Q4/20 Presentation)\nWhen looking at the last annual results (fiscal 2021), Alibaba generated RMB 717.3 billion in revenue. Compared to fiscal 2020 (RMB 509.7 billion) this is reflecting an increase of 41%. Adjusted EBITDA in fiscal 2021 was RMB 196.8 billion – an increase of 25% compared to fiscal 2020 (adjusted EBITA of RMB 157.7 billion). Diluted earnings per share actually decreased from RMB 6.99 in fiscal 2020 to RMB 6.84 in fiscal 2021 – reflecting a decrease of 2.1%. But we should not pay too much attention to the earnings per share. Instead, it makes much more sense to look at the free cash flow Alibaba is generating. In fiscal 2021, Alibaba generated RMB 172.7 billion in free cash flow compared to RMB 130.9 billion in free cash flow one year earlier.\nStrong Business Among Strong Competitors\nWhat is striking when looking at Alibaba – and what has been discussed several times – is the low multiple for which Alibaba is currently trading. When using the trailing twelve-month GAAP numbers, Alibaba is trading for 25 times earnings, when using the non-GAAP forward numbers, it is trading for a P/E ratio of 20.\nWe can compare Alibaba to its peers – companies like Amazon (AMZN), Tencent, Facebook (FB), Microsoft (MSFT) or Alphabet (GOOG). And Alibaba actually belongs in that list as it is not only operating in similar business segments, but it is also growing with similarly high rates. And Alibaba is not only growing with a similar pace; it is actually outperforming most of its peers.\n(Source:Alibaba 2020 Investor Presentations)\nWhile Alibaba is growing with a similar pace like these companies, it is trading for a completely different multiple. Right now, Alibaba is trading for a price-cash-flow ratio of 17, while competitors like Tencent, Facebook or Microsoft are trading for a P/FCF ratio between 35 and 40. It is striking, that the market is assigning these competitors a multiple twice as high and Amazon is actually trading for a multiple more than 4 times higher (price-free-cash-flow ratio of 76).\nData by YCharts\nRight now, readers might point out, that the comparison to Amazon is misleading as Amazon is still spending a lot of money to achieve future growth and therefore has a lower profit than other companies. And it certainly is true, that Amazon is still focusing on top line growth – sometimes at the expense of bottom-line growth – but so does Alibaba.\nWhile Amazon spent 10.4% of its revenue as capital expenditures in the last fiscal year, Alibaba spent almost the same amount – 8.9% of revenue. And when looking at the expenses for research and development, we once again see similar numbers. In the last five years, Amazon spent 12.16% of revenue on R&D on average while Alibaba spent 10.38% of its revenue on R&D.\nBut while these numbers are quite similar for both companies – Amazon is spending a bit more on R&D than Alibaba – the free cash flow these two companies can generate is completely different. While Amazon only generated 6.7% of revenue as free cash flow in the last fiscal year, Alibaba generated 26.5% of revenue as free cash flow in the last fiscal year – almost four times higher.\nAnd Alibaba is not only extremely profitable – it was growing with an extremely high pace in the past. During the past ten years, Alibaba could not only grow revenue every single year, it also grew revenue with a CAGR of 62.6%. Earnings per share fluctuated a little bit during these ten years but grew with an even higher pace – a CAGR of 76.29% during the last decade. And finally, free cash flow increased with a CAGR of 59.62% during the last decade.\n(Source: Author’s work based on numbers from Morningstar)\nWhen looking at Alibaba’s growth rates in the last few years compared to its competitors, Alibaba is also outperforming. When looking at the revenue CAGR of the last 5 years, we get the following numbers:\n\nAmazon: 29.26%\nFacebook: 36.82%\nTencent: 36.20%\nAlphabet: 19.47%\nMicrosoft: 8.85%\nAlibaba: 46.24%\n\nWe can spin it how we want: Alibaba is an extremely profitable company growing with extremely high rates but is trading at an extremely low multiple compared to its competitors. It is growing with a higher pace than Microsoft and Facebook, but trading for half the multiple. It is much more profitable than Amazon and also growing at a higher pace, but trading for a quarter of the valuation multiple. At this point, profitability and growth of Alibaba on the one side and the valuation multiple on the other side does not add up. And we have to ask the question, why Alibaba is trading for such a low multiple although it is outperforming many of its peers that trade for much higher multiples.\nRisks\nWhen looking at the past performance of Alibaba, we can see, that steep selloffs are quite common as a similar sell-off happened already three times since the IPO in 2014 with the steepest sell-off being more than 50% off the previous high.\nData byYCharts\nWhile this might help us a bit, we are still facing high levels of uncertainty and investors usually don’t like uncertainty. Basically, this uncertainty can be summed up in one short sentence: The tense relationship between Alibaba’s founder Jack Ma and the Chinese government is worrying for investors. And this tense relationship is exemplified by several events. It started last year, when the IPO of the company’s fintech affiliate Ant Financial was cancelled. \nThis was followed by theinitiation of an antitrust investigation, in which it is investigated if Alibaba had engaged in monopolistic practices (like preventing vendors from selling on other platforms). Additionally, new supervision for Ant Group was also discussed. And finally, at the end of 2020, Jack Ma went missing and it took about three months before the public would hear from him again – another worrying aspect for investors.\nAs long as we are talking about risks, there are other aspect I like to mention. I compared Alibaba to Amazon above – and I still think that comparison is appropriate. But we also have to acknowledge, that Alibaba growth potential is limited as the company is mostly focused on China and might have more difficulties to expand globally – compared to Amazon. But considering the growing middle class in China and the high pace with which the economy is still growing we should not worry too much about Alibaba’s growth potential.\nThere is a final risk Imentioned in my last article about Tencentand that risk is also applying to Alibaba:\n\n And a final risk is the fact that Tencent is a Chinese company. It is especially difficult to understand different trends before they are happening and predict the future, but while I am familiar with the German culture and the people (habits, preferences, etc.) and can deal with similar countries like France, the United Kingdom, Sweden or the United States, it is rather difficult for me to understand and analyze the consumer behavior and preferences of the Chinese population. This makes it difficult to assess the potential and development of the products and services Tencent offers.\n\nBut despite all these issues, there is a comparison I like very much. Very recently,one of my fellow contributorscompared Alibaba’s situation right now to Facebook a few years ago, when it was facing the Cambridge Analytics scandal and also trading for extremely low multiples due to the uncertainties. And it is also interesting, that Wall Street analysts as well as Seeking Alpha contributors are extremely bullish about Alibaba right now.\n(Source:Seeking Alpha)\nBalance Sheet\nWhen facing challenges, it is especially reassuring if we are dealing with a solid balance sheet enabling the company to withstand challenges and stormy market conditions. And similar to many companies mentioned above – like Facebook or Alphabet – Alibaba also has a great balance sheet. We don’t have to worry about high debt levels although Alibaba has current bank borrowings of RMB 3.6 billion and non-current bank borrowings of RMB 38.3 billion on its balance sheet. But compared to a total equity of RMB 1,075 billion, we get a D/E ratio of 0.04, which is negligible. Aside from the debt, the biggest problem is probably the company’s goodwill. On March 31, 2021, Alibaba had RMB 292.8 billion in goodwill. This means, that 17.3% of total assets (RMB 1,690 billion) is goodwill.\n(Source:Alibaba Q4/21 Earnings Release)\nBut aside from goodwill, Alibaba also has RMB 321.3 billion in cash and cash equivalents as well as RMB 152.4 billion in short-term investments on its balance sheet. Aside from these rather liquid assets, Alibaba also has RMB 237.2 billion in equity securities and other investments, that are also worth mentioning. I included a screenshot of the latest balance sheet, which is also including the numbers in US$. Especially $72 billion in very liquid assets give Alibaba a lot of “financial power” and the ability to negative troubles.\nIntrinsic Value Calculation\nI already mentioned above that Alibaba is trading at rather low multiples – at least when compared to its peers and especially for a company growing with a high pace. And compared to the company’s history, the stock is right now trading almost for its lowest P/FCF ratio since the IPO. A few times – in 2016, 2018 and 2020 – the stock was trading at a similar low P/FCF ratio. From that point of view, Alibaba has to be considered extremely cheap.\n(Source:Seeking Alpha Charting)\nWhen you are familiar with my past articles, you know that I don’t just use valuation multiples but also a discount cash flow analysis, which is considered to be much more precise (although we have to make a lot more assumptions). When taking the free cash flow of fiscal 2021 (RMB 172.7 billion) as basis, Alibaba has to grow about 5.5% annually from now till perpetuity for the stock to be fairly valued (the intrinsic value is RMB 1,367; discount rate 10%).\nInstead, we can also calculate with more realistic growth rates. If we assume, that Alibaba won’t go under, we have to assume at least 20% growth for the next year. Let’s be rather pessimistic and assume, that growth will slowly decline over the next decade and in 10 years from now, the growth rate will only be 6% till perpetuity. When using these numbers, we get an intrinsic value of RMB 2,596. And we have to assume, that these growth assumptions are rather cautious for a company like Alibaba.\nConclusion\nSo far, we talked about risks, about past growth rates, compared Alibaba to its peers and provided an intrinsic value calculation. I also wanted to write about the growth potential as well as the wide economic moat, that Alibaba has without any doubt – similar toAmazon,FacebookorTencent. But the article would probably be too long then. Instead, I included links to three articles in which I described the economic moat of these businesses.\nWhen summing up, it is quite simple. When we assume, that Alibaba is in serious trouble and might be brought down in some way or is facing troubles, that will seriously mess with the company’s ability to grow, we should not invest in Alibaba. These risks are present, and we actually don’t know what could happen in the coming quarters (or years). However, I consider it extremely unlikely, that China will destroy its second most-valuable company. If we assume on the other side, that this is just a small hick-up and troubles Alibaba can work through in the coming quarters and Alibaba will continue to perform in a similar way as in the past (even with growth rates slowing down), Alibaba is probably one of the most undervalued stocks out there and an extreme bargain.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163295594,"gmtCreate":1623885577118,"gmtModify":1703822298206,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581750430248568","idStr":"3581750430248568"},"themes":[],"htmlText":"Not quite unexpected&nbsp;","listText":"Not quite unexpected&nbsp;","text":"Not quite unexpected","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/163295594","repostId":"2144713861","repostType":4,"repost":{"id":"2144713861","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":1623883569,"share":"https://ttm.financial/m/news/2144713861?lang=&edition=fundamental","pubTime":"2021-06-17 06:46","market":"us","language":"en","title":"Wall Street closes lower as Fed officials project rate hikes for 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2144713861","media":"Reuters","summary":"June 16  - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.The Fed cited an impr","content":"<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 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 closes lower as Fed officials project rate hikes for 2023</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 closes lower as Fed officials project rate hikes for 2023\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\">2021-06-17 06:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 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",".IXIC":"NASDAQ Composite","SQQQ":"纳指三倍做空ETF",".SPX":"S&P 500 Index","OEX":"标普100","SDOW":"道指三倍做空ETF-ProShares","OEF":"标普100指数ETF-iShares","DOG":"道指反向ETF","SDS":"两倍做空标普500ETF","QID":"纳指两倍做空ETF","DXD":"道指两倍做空ETF","DJX":"1/100道琼斯","SPXU":"三倍做空标普500ETF","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","DDM":"道指两倍做多ETF","SH":"标普500反向ETF","PSQ":"纳指反向ETF","IVV":"标普500指数ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","QLD":"纳指两倍做多ETF",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144713861","content_text":"June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.\nNew projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.\nThe Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.\n\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at BNP Paribas.\nThe benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.\nWith inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.\nThe Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.\n\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.\nThe Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.\nOnly two of the S&P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.\nThe decliners were led by utilities, materials, and consumer staples.\nVolume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.\nThe S&P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":140704677,"gmtCreate":1625671437899,"gmtModify":1703746215592,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"It’s time","listText":"It’s time","text":"It’s time","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/140704677","repostId":"1118316014","repostType":4,"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163295594,"gmtCreate":1623885577118,"gmtModify":1703822298206,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"Not quite unexpected&nbsp;","listText":"Not quite unexpected&nbsp;","text":"Not quite unexpected","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/163295594","repostId":"2144713861","repostType":4,"repost":{"id":"2144713861","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":1623883569,"share":"https://ttm.financial/m/news/2144713861?lang=&edition=fundamental","pubTime":"2021-06-17 06:46","market":"us","language":"en","title":"Wall Street closes lower as Fed officials project rate hikes for 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2144713861","media":"Reuters","summary":"June 16  - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.The Fed cited an impr","content":"<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 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 closes lower as Fed officials project rate hikes for 2023</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 closes lower as Fed officials project rate hikes for 2023\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\">2021-06-17 06:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.</p>\n<p>New projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.</p>\n<p>The Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.</p>\n<p>\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>.</p>\n<p>The benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.</p>\n<p>With inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.</p>\n<p>The Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.</p>\n<p>\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.</p>\n<p>The Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&amp;P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.</p>\n<p>Only two of the S&amp;P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.</p>\n<p>The decliners were led by utilities, materials, and consumer staples.</p>\n<p>Volume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 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",".IXIC":"NASDAQ Composite","SQQQ":"纳指三倍做空ETF",".SPX":"S&P 500 Index","OEX":"标普100","SDOW":"道指三倍做空ETF-ProShares","OEF":"标普100指数ETF-iShares","DOG":"道指反向ETF","SDS":"两倍做空标普500ETF","QID":"纳指两倍做空ETF","DXD":"道指两倍做空ETF","DJX":"1/100道琼斯","SPXU":"三倍做空标普500ETF","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","DDM":"道指两倍做多ETF","SH":"标普500反向ETF","PSQ":"纳指反向ETF","IVV":"标普500指数ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","QLD":"纳指两倍做多ETF",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144713861","content_text":"June 16 (Reuters) - The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.\nNew projections saw a majority of 11 of 18 U.S. central bank officials pencil in at least two quarter-percentage-point rate increases for 2023. Officials also pledged to keep policy supportive for now to encourage an ongoing jobs recovery.\nThe Fed cited an improved economic outlook, with overall economic growth expected to hit 7% this year. Still, investors were surprised to learn officials were mulling rate hikes earlier than 2024.\n\"At first blush, the dot plot which projected two hikes by 2023 was more hawkish than expected, and markets reacted as such,\" said Daniel Ahn, chief U.S. economist at BNP Paribas.\nThe benchmark 10-year Treasury yield rose on the Fed news, while the dollar index , which tracks the greenback against six major currencies, rose to a six-week peak.\nWith inflation rising faster than expected and the economy bouncing back quickly, the market had been looking for clues of when the Fed may alter the policies put into place last year to combat the economic fallout from the pandemic, including a massive bond-buying program.\nThe Fed reiterated its promise to await \"substantial further progress\" before beginning to shift to policies tuned to a fully open economy. It also held its benchmark short-term interest rate near zero and said it will continue to buy $120 billion in bonds each month to fuel the economic recovery.\n\"Chair Powell has signaled, while the committee is not yet ready to taper, it is now in the minds of the committee. They've retired the phrase 'thinking about thinking about tapering', and we expect that in the next few meetings, the committee will likely formally start discussions of tapering,\" BNP's Ahn said.\nThe Dow Jones Industrial Average fell 265.66 points, or 0.77%, to 34,033.67, the S&P 500 lost 22.89 points, or 0.54%, to 4,223.7 and the Nasdaq Composite dropped 33.17 points, or 0.24%, to 14,039.68.\nOnly two of the S&P's 11 main sector indexes ended in positive territory: consumer discretionary and retail.\nThe decliners were led by utilities, materials, and consumer staples.\nVolume on U.S. exchanges was 10.90 billion shares, compared with the 10.38 billion average over the last 20 trading days.\nThe S&P 500 posted 25 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 95 new highs and 30 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140704903,"gmtCreate":1625671401802,"gmtModify":1703746215260,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/140704903","repostId":"1128775379","repostType":4,"repost":{"id":"1128775379","kind":"news","pubTimestamp":1625671136,"share":"https://ttm.financial/m/news/1128775379?lang=&edition=fundamental","pubTime":"2021-07-07 23:18","market":"us","language":"en","title":"JPMorgan Bosses Predict Banks’ Long Trading Slump Gone for Good","url":"https://stock-news.laohu8.com/highlight/detail?id=1128775379","media":"Bloomberg","summary":"(Bloomberg) -- Before 2020 unleashed a windfall for Wall Street traders, life in the business kept g","content":"<p>(Bloomberg) -- Before 2020 unleashed a windfall for Wall Street traders, life in the business kept getting harder as revenue weakened. Now, as the pandemic’s flurry of activity fades, the question is whether the decade-long slide will continue.</p>\n<p>The answer is no, according to Daniel Pinto, who oversees JPMorgan Chase &amp; Co.’s massive Wall Street operations.</p>\n<p>The industry’s collective revenue from trading -- its “wallet” -- probably reached its nadir before Covid-19, he said in an interview. And from those depths, things are likely to improve for years to come. That is, setting aside 2020.</p>\n<p>“You’re going to have, over time, an increasing wallet,” said Pinto, the bank’s co-president and co-chief operating officer. Post-crisis regulations and changes in market structure, such as electronification, that squeezed margins are now mostly in place, and the system is working well, he said. “From here you would expect that as the world grows and capital markets grow, the trading businesses will grow.”</p>\n<p>It might be hard for shareholders to remember that optimism in coming months as global banks face tough comparisons with 2020’s bonanza. JPMorgan and Goldman Sachs Group Inc. are set to kick off second-quarter earnings announcements next week. Already, JPMorgan Chief Executive Officer Jamie Dimon signaled a potential 38% decline from a year earlier, as he and executives from Morgan Stanley and Citigroup Inc. sought to temper expectations in recent weeks.</p>\n<p>For much of a decade after the financial crisis, total wallet for the 12 largest trading firms fell again and again. Their combined revenue from the business bottomed out at $110 billion in 2017 and hardly improved in the two years that followed, according to data from analytics firm Coalition Greenwich. The reasons were myriad: more stringent rules, the rise of electronic trading, persistently low interest rates, pressure from new entrants and the outright disappearance of some products post-crisis.</p>\n<p>Many of those changes have played out, and capital markets are expanding. Pinto and colleagues said that longer-term growth trend will be apparent this year.</p>\n<p>“If you put last year aside, which was a one-off, this year should be a very strong outcome when you put it on a multiyear basis,” said Troy Rohrbaugh, JPMorgan’s global head of markets.</p>\n<p>Equities will expand the industry’s wallet more than fixed-income products, Rohrbaugh predicted. The U.S. remains the region generating the biggest increase, though the trend is also positive in Europe, he said. The wallet from China will likely swell, but it’s unclear what share of the additional business will go to foreign firms. They will see some, at least, he said.</p>\n<p>Broadly, companies such as JPMorgan with the most scale and ability to invest in technology will have an advantage, though smaller firms will benefit too, he said.</p>\n<p>Does that mean that fewer traders will be around to participate in the upswing?</p>\n<p>“What you do will evolve,” Rohrbaugh said. “There are certainly some roles that will go away as you gain productivity. As more traditional jobs disappear, there are new jobs that pop up.</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Bosses Predict Banks’ Long Trading Slump Gone for Good</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\">\nJPMorgan Bosses Predict Banks’ Long Trading Slump Gone for Good\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-07 23:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/jpmorgan-bosses-predict-banks-long-120000722.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Before 2020 unleashed a windfall for Wall Street traders, life in the business kept getting harder as revenue weakened. Now, as the pandemic’s flurry of activity fades, the question is ...</p>\n\n<a href=\"https://finance.yahoo.com/news/jpmorgan-bosses-predict-banks-long-120000722.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JPM":"摩根大通"},"source_url":"https://finance.yahoo.com/news/jpmorgan-bosses-predict-banks-long-120000722.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128775379","content_text":"(Bloomberg) -- Before 2020 unleashed a windfall for Wall Street traders, life in the business kept getting harder as revenue weakened. Now, as the pandemic’s flurry of activity fades, the question is whether the decade-long slide will continue.\nThe answer is no, according to Daniel Pinto, who oversees JPMorgan Chase & Co.’s massive Wall Street operations.\nThe industry’s collective revenue from trading -- its “wallet” -- probably reached its nadir before Covid-19, he said in an interview. And from those depths, things are likely to improve for years to come. That is, setting aside 2020.\n“You’re going to have, over time, an increasing wallet,” said Pinto, the bank’s co-president and co-chief operating officer. Post-crisis regulations and changes in market structure, such as electronification, that squeezed margins are now mostly in place, and the system is working well, he said. “From here you would expect that as the world grows and capital markets grow, the trading businesses will grow.”\nIt might be hard for shareholders to remember that optimism in coming months as global banks face tough comparisons with 2020’s bonanza. JPMorgan and Goldman Sachs Group Inc. are set to kick off second-quarter earnings announcements next week. Already, JPMorgan Chief Executive Officer Jamie Dimon signaled a potential 38% decline from a year earlier, as he and executives from Morgan Stanley and Citigroup Inc. sought to temper expectations in recent weeks.\nFor much of a decade after the financial crisis, total wallet for the 12 largest trading firms fell again and again. Their combined revenue from the business bottomed out at $110 billion in 2017 and hardly improved in the two years that followed, according to data from analytics firm Coalition Greenwich. The reasons were myriad: more stringent rules, the rise of electronic trading, persistently low interest rates, pressure from new entrants and the outright disappearance of some products post-crisis.\nMany of those changes have played out, and capital markets are expanding. Pinto and colleagues said that longer-term growth trend will be apparent this year.\n“If you put last year aside, which was a one-off, this year should be a very strong outcome when you put it on a multiyear basis,” said Troy Rohrbaugh, JPMorgan’s global head of markets.\nEquities will expand the industry’s wallet more than fixed-income products, Rohrbaugh predicted. The U.S. remains the region generating the biggest increase, though the trend is also positive in Europe, he said. The wallet from China will likely swell, but it’s unclear what share of the additional business will go to foreign firms. They will see some, at least, he said.\nBroadly, companies such as JPMorgan with the most scale and ability to invest in technology will have an advantage, though smaller firms will benefit too, he said.\nDoes that mean that fewer traders will be around to participate in the upswing?\n“What you do will evolve,” Rohrbaugh said. “There are certainly some roles that will go away as you gain productivity. As more traditional jobs disappear, there are new jobs that pop up.","news_type":1},"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125648697,"gmtCreate":1624673018919,"gmtModify":1703843292952,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"[LOL]&nbsp;","listText":"[LOL]&nbsp;","text":"[LOL]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125648697","repostId":"2146500392","repostType":4,"repost":{"id":"2146500392","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":1624658618,"share":"https://ttm.financial/m/news/2146500392?lang=&edition=fundamental","pubTime":"2021-06-26 06:03","market":"us","language":"en","title":"Bitcoin falls 8.5% to $31,700","url":"https://stock-news.laohu8.com/highlight/detail?id=2146500392","media":"Reuters","summary":"June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from","content":"<p>June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from its previous close.</p>\n<p>Bitcoin, the world's biggest and best-known cryptocurrency, is up 14.3% from the year's low of $27,734 on Jan. 4.</p>\n<p>Ether, the coin linked to the ethereum blockchain network, dropped 7.37 % to $1,843.07 on Friday, losing $146.56 from its previous close.</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>Bitcoin falls 8.5% to $31,700</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin falls 8.5% to $31,700\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\">2021-06-26 06:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from its previous close.</p>\n<p>Bitcoin, the world's biggest and best-known cryptocurrency, is up 14.3% from the year's low of $27,734 on Jan. 4.</p>\n<p>Ether, the coin linked to the ethereum blockchain network, dropped 7.37 % to $1,843.07 on Friday, losing $146.56 from its previous close.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146500392","content_text":"June 25 (Reuters) - Bitcoin dipped 8.51% to $31,699.83 at 22:04 GMT on Friday, losing $2,937.27 from its previous close.\nBitcoin, the world's biggest and best-known cryptocurrency, is up 14.3% from the year's low of $27,734 on Jan. 4.\nEther, the coin linked to the ethereum blockchain network, dropped 7.37 % to $1,843.07 on Friday, losing $146.56 from its previous close.","news_type":1},"isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124828779,"gmtCreate":1624759360391,"gmtModify":1703844532490,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"[Surprised]&nbsp;","listText":"[Surprised]&nbsp;","text":"[Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/124828779","repostId":"1172710941","repostType":4,"repost":{"id":"1172710941","kind":"news","pubTimestamp":1624753126,"share":"https://ttm.financial/m/news/1172710941?lang=&edition=fundamental","pubTime":"2021-06-27 08:18","market":"us","language":"en","title":"GameStop Joined the Russell 1000. The Move Might Hurt the Stock.","url":"https://stock-news.laohu8.com/highlight/detail?id=1172710941","media":"Barrons","summary":"The Reddit army has succeeded in launching GameStop to a new stratosphere—but it could actually hurt the stock in the short-term.The videogame retailer officially made it into the Russell 1000 index,FTSE Russell announced on Saturday. The Russell 1000 tracks large-capitalization stocks—and in order to be included in the latest index reconstitution, stocks had to have market caps of at least $7.3 billion on May 7.As one of the stocks favored by retail traders this year, GameStop  met that thresho","content":"<p>The Reddit army has succeeded in launching&nbsp;GameStop&nbsp;to a new stratosphere—but it could actually hurt the stock in the short-term.</p>\n<p>The videogame retailer officially made it into the&nbsp;Russell 1000 index,FTSE Russell announced on Saturday. The Russell 1000 tracks large-capitalization stocks—and in order to be included in the latest index reconstitution, stocks had to have market caps of at least $7.3 billion on May 7.</p>\n<p>As one of the&nbsp;stocks favored by retail traders this year, GameStop (ticker: GME) met that threshold because it had an $11.2 billion market cap by the deadline, while&nbsp;AMC Entertainment(AMC) didn’t. That said, AMC has rocketed higher since May 7, multiplying by more than five times and surpassing GameStop’s market value—hitting a recent $27 billion compared to GameStop’s $15 billion.</p>\n<p>It may seem counterintuitive, but the Russell 1000 “promotion” may actually be bad for GameStop’s stock,as&nbsp;Barron’s&nbsp;explained earlier this month.Funds that track the small-capRussell 2000will have to sell GameStop shares on June 28, and funds that track the Russell 1000 will have to buy them. Three times as much money is invested in funds that track the Russell 1000, but GameStop’s overall weight in that index will be much lower than it has been in the Russell 2000. In the Russell 2000, GameStop made up about half a percentage point of the index, while it will be less than 0.1% of the Russell 1000. GameStop will look tiny next to behemoths like&nbsp;Apple(AAPL).</p>\n<p>Experts like Jefferies strategist Steven DeSanctis expect that there will be net selling in GameStop of about 5 million shares, or about half of the stock’s recent average daily volume, after the rebalancing.</p>\n<p>Meanwhile, AMC will be the largest member of the Russell 2000 by far—more than three times as large as its nearest competitor as of last week. See the full post-rebalancing list of Russell 1000 stocks&nbsp;<a href=\"https://content.ftserussell.com/sites/default/files/ru1000_membershiplist_20210628.pdf\" target=\"_blank\">here</a>&nbsp;and Russell 2000 stocks&nbsp;<a href=\"https://content.ftserussell.com/sites/default/files/ru2000_membershiplist_20210628.pdf\" target=\"_blank\">here</a>.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop Joined the Russell 1000. The Move Might Hurt the Stock.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop Joined the Russell 1000. The Move Might Hurt the Stock.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-27 08:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/gamestop-stock-russell-1000-51624729113?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Reddit army has succeeded in launching GameStop to a new stratosphere—but it could actually hurt the stock in the short-term.\nThe videogame retailer officially made it into the Russell 1000 index,...</p>\n\n<a href=\"https://www.barrons.com/articles/gamestop-stock-russell-1000-51624729113?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-stock-russell-1000-51624729113?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172710941","content_text":"The Reddit army has succeeded in launching GameStop to a new stratosphere—but it could actually hurt the stock in the short-term.\nThe videogame retailer officially made it into the Russell 1000 index,FTSE Russell announced on Saturday. The Russell 1000 tracks large-capitalization stocks—and in order to be included in the latest index reconstitution, stocks had to have market caps of at least $7.3 billion on May 7.\nAs one of the stocks favored by retail traders this year, GameStop (ticker: GME) met that threshold because it had an $11.2 billion market cap by the deadline, while AMC Entertainment(AMC) didn’t. That said, AMC has rocketed higher since May 7, multiplying by more than five times and surpassing GameStop’s market value—hitting a recent $27 billion compared to GameStop’s $15 billion.\nIt may seem counterintuitive, but the Russell 1000 “promotion” may actually be bad for GameStop’s stock,as Barron’s explained earlier this month.Funds that track the small-capRussell 2000will have to sell GameStop shares on June 28, and funds that track the Russell 1000 will have to buy them. Three times as much money is invested in funds that track the Russell 1000, but GameStop’s overall weight in that index will be much lower than it has been in the Russell 2000. In the Russell 2000, GameStop made up about half a percentage point of the index, while it will be less than 0.1% of the Russell 1000. GameStop will look tiny next to behemoths like Apple(AAPL).\nExperts like Jefferies strategist Steven DeSanctis expect that there will be net selling in GameStop of about 5 million shares, or about half of the stock’s recent average daily volume, after the rebalancing.\nMeanwhile, AMC will be the largest member of the Russell 2000 by far—more than three times as large as its nearest competitor as of last week. See the full post-rebalancing list of Russell 1000 stocks here and Russell 2000 stocks here.","news_type":1},"isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892357641,"gmtCreate":1628640749583,"gmtModify":1676529804058,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892357641","repostId":"1166225362","repostType":4,"repost":{"id":"1166225362","kind":"news","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":1628639126,"share":"https://ttm.financial/m/news/1166225362?lang=&edition=fundamental","pubTime":"2021-08-11 07:45","market":"us","language":"en","title":"Coinbase says attentive to regulatory concerns after profit beat","url":"https://stock-news.laohu8.com/highlight/detail?id=1166225362","media":"Reuters","summary":"(Reuters) -U.S. cryptocurrency exchange Coinbase Global, Inc. on Tuesday beat market estimates for s","content":"<p>(Reuters) -U.S. cryptocurrency exchange <a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a> on Tuesday beat market estimates for second-quarter profit boosted by a near 38% jump in trading volumes on a sequential basis, but forecast a drop in current-quarter volumes.</p>\n<p>Coinbase, which has benefited from the growing adoption of digital assets, said the reported quarter illustrated the volatility of the still nascent sector that faces calls for more regulation.</p>\n<p>Chief Financial Officer Alesia Haas said Coinbase is paying close attention to the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s comments, who called on Congress last week seeking more authority to better police cryptocurrency trading, lending and platforms.</p>\n<p>“We’re eager to understand the legal framework for the concerns that he has raised and how any of those may impact our product roadmap,” Haas said in a post-earnings conference call with analysts.</p>\n<p>The exchange also plans to grow the number of assets listed on its platform, with Chief Executive Officer Brian Armstrong stating that he wants Coinbase to be the “Amazon of assets” and list every legal crypto asset on its platform.</p>\n<p>For the quarter ended June 30, the company’s trading volumes rose to $462 billion, from $335 billion in the quarter ended March. Bitcoin trades comprised 24% of Coinbase’s trading volumes for the quarter, down from 39% in the first quarter.</p>\n<p>However, for the third quarter, it expects trading volumes to be lower than the second quarter, as August month-to-date volumes have improved compared to July, but remain lower than what was seen earlier in the year.</p>\n<p>On an adjusted basis, the crypto exchange earned $3.45 per share. Analysts were expecting a profit of $2.33 per share, according to IBES data from Refinitiv.</p>\n<p>Coinbase, one of the largest cryptocurrency exchanges in the world, went public through a direct listing in April.</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>Coinbase says attentive to regulatory concerns after profit beat</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\">\nCoinbase says attentive to regulatory concerns after profit beat\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\">2021-08-11 07:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) -U.S. cryptocurrency exchange <a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a> on Tuesday beat market estimates for second-quarter profit boosted by a near 38% jump in trading volumes on a sequential basis, but forecast a drop in current-quarter volumes.</p>\n<p>Coinbase, which has benefited from the growing adoption of digital assets, said the reported quarter illustrated the volatility of the still nascent sector that faces calls for more regulation.</p>\n<p>Chief Financial Officer Alesia Haas said Coinbase is paying close attention to the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s comments, who called on Congress last week seeking more authority to better police cryptocurrency trading, lending and platforms.</p>\n<p>“We’re eager to understand the legal framework for the concerns that he has raised and how any of those may impact our product roadmap,” Haas said in a post-earnings conference call with analysts.</p>\n<p>The exchange also plans to grow the number of assets listed on its platform, with Chief Executive Officer Brian Armstrong stating that he wants Coinbase to be the “Amazon of assets” and list every legal crypto asset on its platform.</p>\n<p>For the quarter ended June 30, the company’s trading volumes rose to $462 billion, from $335 billion in the quarter ended March. Bitcoin trades comprised 24% of Coinbase’s trading volumes for the quarter, down from 39% in the first quarter.</p>\n<p>However, for the third quarter, it expects trading volumes to be lower than the second quarter, as August month-to-date volumes have improved compared to July, but remain lower than what was seen earlier in the year.</p>\n<p>On an adjusted basis, the crypto exchange earned $3.45 per share. Analysts were expecting a profit of $2.33 per share, according to IBES data from Refinitiv.</p>\n<p>Coinbase, one of the largest cryptocurrency exchanges in the world, went public through a direct listing in April.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166225362","content_text":"(Reuters) -U.S. cryptocurrency exchange Coinbase Global, Inc. on Tuesday beat market estimates for second-quarter profit boosted by a near 38% jump in trading volumes on a sequential basis, but forecast a drop in current-quarter volumes.\nCoinbase, which has benefited from the growing adoption of digital assets, said the reported quarter illustrated the volatility of the still nascent sector that faces calls for more regulation.\nChief Financial Officer Alesia Haas said Coinbase is paying close attention to the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s comments, who called on Congress last week seeking more authority to better police cryptocurrency trading, lending and platforms.\n“We’re eager to understand the legal framework for the concerns that he has raised and how any of those may impact our product roadmap,” Haas said in a post-earnings conference call with analysts.\nThe exchange also plans to grow the number of assets listed on its platform, with Chief Executive Officer Brian Armstrong stating that he wants Coinbase to be the “Amazon of assets” and list every legal crypto asset on its platform.\nFor the quarter ended June 30, the company’s trading volumes rose to $462 billion, from $335 billion in the quarter ended March. Bitcoin trades comprised 24% of Coinbase’s trading volumes for the quarter, down from 39% in the first quarter.\nHowever, for the third quarter, it expects trading volumes to be lower than the second quarter, as August month-to-date volumes have improved compared to July, but remain lower than what was seen earlier in the year.\nOn an adjusted basis, the crypto exchange earned $3.45 per share. Analysts were expecting a profit of $2.33 per share, according to IBES data from Refinitiv.\nCoinbase, one of the largest cryptocurrency exchanges in the world, went public through a direct listing in April.","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127231631,"gmtCreate":1624850163223,"gmtModify":1703846162054,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"[Happy]&nbsp;","listText":"[Happy]&nbsp;","text":"[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/127231631","repostId":"1102536611","repostType":4,"repost":{"id":"1102536611","kind":"news","pubTimestamp":1624844282,"share":"https://ttm.financial/m/news/1102536611?lang=&edition=fundamental","pubTime":"2021-06-28 09:38","market":"us","language":"en","title":"Nvidia’s Planned Arm Takeover Gets Boost From Chip Giants","url":"https://stock-news.laohu8.com/highlight/detail?id=1102536611","media":"Bloomberg","summary":"Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.Broadcom Corp.,MediaTek Inc.and Marvell Technology Group Ltd. are the first customers of the Cambridge, U.K.-based Arm to publicly support the takeover, which has raised concerns on national security grounds, the Sunday Times reported.The endorsement comes as the U.K. Competition and Markets Authority prepares t","content":"<p>Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group&nbsp;Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.</p>\n<p>Broadcom Corp.,MediaTek Inc.and Marvell Technology Group Ltd. are the first customers of the Cambridge, U.K.-based Arm to publicly support the takeover, which has raised concerns on national security grounds, the Sunday Times reported.</p>\n<p>The endorsement comes as the U.K. Competition and Markets Authority prepares to deliver a review that may oppose the takeover. The potential deal is also being reviewed in the U.S., European Union and China.</p>\n<p>RivalQualcomm Inc.and tech giants including Microsoft Corp. have voiced fears that Nvidia could limit the supply of the company’s technology to its competitors or raise prices. Arm, which is being sold by Japan’sSoftBank Group Corp., offers its designs to more than 500 companies that make their own chips.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nvidia’s Planned Arm Takeover Gets Boost From Chip Giants</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\">\nNvidia’s Planned Arm Takeover Gets Boost From Chip Giants\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 09:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-27/nvidia-s-planned-arm-takeover-gets-boost-from-chip-giants><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.\nBroadcom ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-27/nvidia-s-planned-arm-takeover-gets-boost-from-chip-giants\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-27/nvidia-s-planned-arm-takeover-gets-boost-from-chip-giants","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102536611","content_text":"Nvidia Corp.’s $40 billion proposed acquisition of U.K. semiconductor group Arm Ltd.got a boost after three of the world’s largest chipmakers expressed support for the controversial deal.\nBroadcom Corp.,MediaTek Inc.and Marvell Technology Group Ltd. are the first customers of the Cambridge, U.K.-based Arm to publicly support the takeover, which has raised concerns on national security grounds, the Sunday Times reported.\nThe endorsement comes as the U.K. Competition and Markets Authority prepares to deliver a review that may oppose the takeover. The potential deal is also being reviewed in the U.S., European Union and China.\nRivalQualcomm Inc.and tech giants including Microsoft Corp. have voiced fears that Nvidia could limit the supply of the company’s technology to its competitors or raise prices. Arm, which is being sold by Japan’sSoftBank Group Corp., offers its designs to more than 500 companies that make their own chips.","news_type":1},"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166136071,"gmtCreate":1623995647193,"gmtModify":1703826066719,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"[Grin]&nbsp;","listText":"[Grin]&nbsp;","text":"[Grin]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166136071","repostId":"1138216687","repostType":2,"repost":{"id":"1138216687","kind":"news","pubTimestamp":1622552095,"share":"https://ttm.financial/m/news/1138216687?lang=&edition=fundamental","pubTime":"2021-06-01 20:54","market":"hk","language":"en","title":"Alibaba: One Of The Really Cheap Bargains In This Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1138216687","media":"seekingalpha","summary":"Alibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.The company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.Alibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.So far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United Sta","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.</li>\n <li>The company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.</li>\n <li>Alibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.</li>\n <li>In my opinion, the stock is severely undervalued.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15ac5f97c66688f6d16ce98819ebce4a\" tg-width=\"768\" tg-height=\"512\"><span>Photo by maybefalse/iStock Unreleased via Getty Images</span></p>\n<p>So far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United States and stocks listed on an US-based stock exchange. And while I am covering also companies from Germany, France, Great Britain, Sweden or Denmark, I have avoided one country almost completely although it has many interesting investment opportunities: Mainland China.The only company I covered so far&nbsp;is Tencent Holdings Limited (OTCPK:TCEHY).</p>\n<p>And although China has hundreds or thousands of successful companies, most of them are almost unknown in the Western Hemisphere (especially when moving outside of the investing world). And while most investors are familiar with Tencent, there is at least one other company almost every investor has heard of: Alibaba Group Holding Limited (BABA). In the following article, I will analyze Alibaba in my usual way. I will try to determine if Alibaba is a solid business with a wide economic moat and try to answer the question if Alibaba is a solid investment right now.</p>\n<p><b>Business Description</b></p>\n<p>Alibaba Group was founded in 1999 by 18 individuals. Nevertheless, one of these 18 stands out – the former English teacher from Hangzhou, Jack Ma. Over the years, Alibaba evolved in a multinational technology company and with a market capitalization of $570 billion, Alibaba is on the 10thspot on the list of most valuable companies in the world (by market cap). And behind Tencent, which is on the 7thspot on that list, Alibaba is the second most valuable company in China.</p>\n<p>While Alibaba is mostly focused on e-commerce and retail operations, the Alibaba Group is actually a holding company with many different sales services. This includes C2C services, B2C services and B2B services. Aside from retail, the Alibaba Group also offers electronic payment services, shipping search engines and could computing services. The group owns and operates a diverse portfolio of companies around the world in numerous business sectors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b315044f4644568e7df5d95cc6720995\" tg-width=\"640\" tg-height=\"479\"><span>(Source:Alibaba Q4/20 Presentation)</span></p>\n<p>Alibaba is reporting in four different segments:</p>\n<ul>\n <li><b>Core Commerce Revenue</b>: This segment is comprised of platforms operating in retail and wholesale commerce in China as well as logistics services and local consumer services. In fiscal 2021, this segment generated RMB 621.1 billion in revenue and RMB 159 billion in income from operations.</li>\n <li><b>Cloud Computing Revenue</b>: This segment is comprised of Alibaba Cloud, which offers different cloud services to customers worldwide like database, storage, big data analytics, a machine learning platform and large-scale computing security. In fiscal 2021, this segment generated RMB 60.1 billion, but the segment was not profitable so far (a loss of RMB 9 billion).</li>\n <li><b>Digital Media and Entertainment Revenue</b>: This segment uses the deep data insights to serve the broader interests of consumers through key distribution platforms Youku and Alibaba Pictures as well as other content platforms that provide online videos, films, live events, literature and music. In fiscal 2021, this segment generated RMB 31.2 billion, but was also not profitable.</li>\n <li><b>Innovation Initiatives and Others Revenue</b>: This segment includes businesses like Amap, DingTalk, Tmall Genie and others. In fiscal 2021, this segment generated RMB 4.8 billion in revenue, but also an operating loss.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0529c547e87a4c0b023289ecb1822cbc\" tg-width=\"640\" tg-height=\"478\"><span>(Source: Alibaba Q4/20 Presentation)</span></p>\n<p>When looking at the last annual results (fiscal 2021), Alibaba generated RMB 717.3 billion in revenue. Compared to fiscal 2020 (RMB 509.7 billion) this is reflecting an increase of 41%. Adjusted EBITDA in fiscal 2021 was RMB 196.8 billion – an increase of 25% compared to fiscal 2020 (adjusted EBITA of RMB 157.7 billion). Diluted earnings per share actually decreased from RMB 6.99 in fiscal 2020 to RMB 6.84 in fiscal 2021 – reflecting a decrease of 2.1%. But we should not pay too much attention to the earnings per share. Instead, it makes much more sense to look at the free cash flow Alibaba is generating. In fiscal 2021, Alibaba generated RMB 172.7 billion in free cash flow compared to RMB 130.9 billion in free cash flow one year earlier.</p>\n<p><b>Strong Business Among Strong Competitors</b></p>\n<p>What is striking when looking at Alibaba – and what has been discussed several times – is the low multiple for which Alibaba is currently trading. When using the trailing twelve-month GAAP numbers, Alibaba is trading for 25 times earnings, when using the non-GAAP forward numbers, it is trading for a P/E ratio of 20.</p>\n<p>We can compare Alibaba to its peers – companies like Amazon (AMZN), Tencent, Facebook (FB), Microsoft (MSFT) or Alphabet (GOOG). And Alibaba actually belongs in that list as it is not only operating in similar business segments, but it is also growing with similarly high rates. And Alibaba is not only growing with a similar pace; it is actually outperforming most of its peers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b576dcef2e37a02a6eba5677fded8ef8\" tg-width=\"640\" tg-height=\"299\"><span>(Source:Alibaba 2020 Investor Presentations)</span></p>\n<p>While Alibaba is growing with a similar pace like these companies, it is trading for a completely different multiple. Right now, Alibaba is trading for a price-cash-flow ratio of 17, while competitors like Tencent, Facebook or Microsoft are trading for a P/FCF ratio between 35 and 40. It is striking, that the market is assigning these competitors a multiple twice as high and Amazon is actually trading for a multiple more than 4 times higher (price-free-cash-flow ratio of 76).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6d2f58771a8062c7bb980622b93073e5\" tg-width=\"635\" tg-height=\"470\"><span>Data by YCharts</span></p>\n<p>Right now, readers might point out, that the comparison to Amazon is misleading as Amazon is still spending a lot of money to achieve future growth and therefore has a lower profit than other companies. And it certainly is true, that Amazon is still focusing on top line growth – sometimes at the expense of bottom-line growth – but so does Alibaba.</p>\n<p>While Amazon spent 10.4% of its revenue as capital expenditures in the last fiscal year, Alibaba spent almost the same amount – 8.9% of revenue. And when looking at the expenses for research and development, we once again see similar numbers. In the last five years, Amazon spent 12.16% of revenue on R&amp;D on average while Alibaba spent 10.38% of its revenue on R&amp;D.</p>\n<p>But while these numbers are quite similar for both companies – Amazon is spending a bit more on R&amp;D than Alibaba – the free cash flow these two companies can generate is completely different. While Amazon only generated 6.7% of revenue as free cash flow in the last fiscal year, Alibaba generated 26.5% of revenue as free cash flow in the last fiscal year – almost four times higher.</p>\n<p>And Alibaba is not only extremely profitable – it was growing with an extremely high pace in the past. During the past ten years, Alibaba could not only grow revenue every single year, it also grew revenue with a CAGR of 62.6%. Earnings per share fluctuated a little bit during these ten years but grew with an even higher pace – a CAGR of 76.29% during the last decade. And finally, free cash flow increased with a CAGR of 59.62% during the last decade.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3ccaf170c0d86cd8022a68bc3657c30\" tg-width=\"640\" tg-height=\"404\"><span>(Source: Author’s work based on numbers from Morningstar)</span></p>\n<p>When looking at Alibaba’s growth rates in the last few years compared to its competitors, Alibaba is also outperforming. When looking at the revenue CAGR of the last 5 years, we get the following numbers:</p>\n<ul>\n <li>Amazon: 29.26%</li>\n <li>Facebook: 36.82%</li>\n <li>Tencent: 36.20%</li>\n <li>Alphabet: 19.47%</li>\n <li>Microsoft: 8.85%</li>\n <li>Alibaba: 46.24%</li>\n</ul>\n<p>We can spin it how we want: Alibaba is an extremely profitable company growing with extremely high rates but is trading at an extremely low multiple compared to its competitors. It is growing with a higher pace than Microsoft and Facebook, but trading for half the multiple. It is much more profitable than Amazon and also growing at a higher pace, but trading for a quarter of the valuation multiple. At this point, profitability and growth of Alibaba on the one side and the valuation multiple on the other side does not add up. And we have to ask the question, why Alibaba is trading for such a low multiple although it is outperforming many of its peers that trade for much higher multiples.</p>\n<p><b>Risks</b></p>\n<p>When looking at the past performance of Alibaba, we can see, that steep selloffs are quite common as a similar sell-off happened already three times since the IPO in 2014 with the steepest sell-off being more than 50% off the previous high.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4da83a08f0dcfc73534c206e43cb09d3\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p>\n<p>While this might help us a bit, we are still facing high levels of uncertainty and investors usually don’t like uncertainty. Basically, this uncertainty can be summed up in one short sentence: The tense relationship between Alibaba’s founder Jack Ma and the Chinese government is worrying for investors. And this tense relationship is exemplified by several events. It started last year, when the IPO of the company’s fintech affiliate Ant Financial was cancelled. </p>\n<p>This was followed by theinitiation of an antitrust investigation, in which it is investigated if Alibaba had engaged in monopolistic practices (like preventing vendors from selling on other platforms). Additionally, new supervision for Ant Group was also discussed. And finally, at the end of 2020, Jack Ma went missing and it took about three months before the public would hear from him again – another worrying aspect for investors.</p>\n<p>As long as we are talking about risks, there are other aspect I like to mention. I compared Alibaba to Amazon above – and I still think that comparison is appropriate. But we also have to acknowledge, that Alibaba growth potential is limited as the company is mostly focused on China and might have more difficulties to expand globally – compared to Amazon. But considering the growing middle class in China and the high pace with which the economy is still growing we should not worry too much about Alibaba’s growth potential.</p>\n<p>There is a final risk Imentioned in my last article about Tencentand that risk is also applying to Alibaba:</p>\n<blockquote>\n And a final risk is the fact that Tencent is a Chinese company. It is especially difficult to understand different trends before they are happening and predict the future, but while I am familiar with the German culture and the people (habits, preferences, etc.) and can deal with similar countries like France, the United Kingdom, Sweden or the United States, it is rather difficult for me to understand and analyze the consumer behavior and preferences of the Chinese population. This makes it difficult to assess the potential and development of the products and services Tencent offers.\n</blockquote>\n<p>But despite all these issues, there is a comparison I like very much. Very recently,one of my fellow contributorscompared Alibaba’s situation right now to Facebook a few years ago, when it was facing the Cambridge Analytics scandal and also trading for extremely low multiples due to the uncertainties. And it is also interesting, that Wall Street analysts as well as Seeking Alpha contributors are extremely bullish about Alibaba right now.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44d2ece5c1460e539c9fd4fb4ba63bf7\" tg-width=\"640\" tg-height=\"195\"><span>(Source:Seeking Alpha)</span></p>\n<p><b>Balance Sheet</b></p>\n<p>When facing challenges, it is especially reassuring if we are dealing with a solid balance sheet enabling the company to withstand challenges and stormy market conditions. And similar to many companies mentioned above – like Facebook or Alphabet – Alibaba also has a great balance sheet. We don’t have to worry about high debt levels although Alibaba has current bank borrowings of RMB 3.6 billion and non-current bank borrowings of RMB 38.3 billion on its balance sheet. But compared to a total equity of RMB 1,075 billion, we get a D/E ratio of 0.04, which is negligible. Aside from the debt, the biggest problem is probably the company’s goodwill. On March 31, 2021, Alibaba had RMB 292.8 billion in goodwill. This means, that 17.3% of total assets (RMB 1,690 billion) is goodwill.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/532919e61e3feb83d46cbce44e3f3c42\" tg-width=\"640\" tg-height=\"354\"><span>(Source:Alibaba Q4/21 Earnings Release)</span></p>\n<p>But aside from goodwill, Alibaba also has RMB 321.3 billion in cash and cash equivalents as well as RMB 152.4 billion in short-term investments on its balance sheet. Aside from these rather liquid assets, Alibaba also has RMB 237.2 billion in equity securities and other investments, that are also worth mentioning. I included a screenshot of the latest balance sheet, which is also including the numbers in US$. Especially $72 billion in very liquid assets give Alibaba a lot of “financial power” and the ability to negative troubles.</p>\n<p><b>Intrinsic Value Calculation</b></p>\n<p>I already mentioned above that Alibaba is trading at rather low multiples – at least when compared to its peers and especially for a company growing with a high pace. And compared to the company’s history, the stock is right now trading almost for its lowest P/FCF ratio since the IPO. A few times – in 2016, 2018 and 2020 – the stock was trading at a similar low P/FCF ratio. From that point of view, Alibaba has to be considered extremely cheap.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d1da4ac18557b21c43feb2a338de9a3b\" tg-width=\"640\" tg-height=\"221\"><span>(Source:Seeking Alpha Charting)</span></p>\n<p>When you are familiar with my past articles, you know that I don’t just use valuation multiples but also a discount cash flow analysis, which is considered to be much more precise (although we have to make a lot more assumptions). When taking the free cash flow of fiscal 2021 (RMB 172.7 billion) as basis, Alibaba has to grow about 5.5% annually from now till perpetuity for the stock to be fairly valued (the intrinsic value is RMB 1,367; discount rate 10%).</p>\n<p>Instead, we can also calculate with more realistic growth rates. If we assume, that Alibaba won’t go under, we have to assume at least 20% growth for the next year. Let’s be rather pessimistic and assume, that growth will slowly decline over the next decade and in 10 years from now, the growth rate will only be 6% till perpetuity. When using these numbers, we get an intrinsic value of&nbsp;<b>RMB 2,596</b>. And we have to assume, that these growth assumptions are rather cautious for a company like Alibaba.</p>\n<p><b>Conclusion</b></p>\n<p>So far, we talked about risks, about past growth rates, compared Alibaba to its peers and provided an intrinsic value calculation. I also wanted to write about the growth potential as well as the wide economic moat, that Alibaba has without any doubt – similar toAmazon,FacebookorTencent. But the article would probably be too long then. Instead, I included links to three articles in which I described the economic moat of these businesses.</p>\n<p>When summing up, it is quite simple. When we assume, that Alibaba is in serious trouble and might be brought down in some way or is facing troubles, that will seriously mess with the company’s ability to grow, we should not invest in Alibaba. These risks are present, and we actually don’t know what could happen in the coming quarters (or years). However, I consider it extremely unlikely, that China will destroy its second most-valuable company. If we assume on the other side, that this is just a small hick-up and troubles Alibaba can work through in the coming quarters and Alibaba will continue to perform in a similar way as in the past (even with growth rates slowing down), Alibaba is probably one of the most undervalued stocks out there and an extreme bargain.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: One Of The Really Cheap Bargains In This Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba: One Of The Really Cheap Bargains In This Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 20:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.\nThe company is clearly facing risks due to the tension between Jack Ma and the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4432358-alibaba-one-of-the-really-cheap-bargains-in-market","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1138216687","content_text":"Summary\n\nAlibaba is one of the largest corporations in the world and focusing on retail, cloud and payment services.\nThe company is clearly facing risks due to the tension between Jack Ma and the Chinese government, but I consider these risks to be only temporary.\nAlibaba is growing with a high pace, has a very stable balance sheet and outperforming many of its peers.\nIn my opinion, the stock is severely undervalued.\n\nPhoto by maybefalse/iStock Unreleased via Getty Images\nSo far, I have published over 300 articles on this site and the focus has been clearly on companies having the headquarters in the United States and stocks listed on an US-based stock exchange. And while I am covering also companies from Germany, France, Great Britain, Sweden or Denmark, I have avoided one country almost completely although it has many interesting investment opportunities: Mainland China.The only company I covered so far is Tencent Holdings Limited (OTCPK:TCEHY).\nAnd although China has hundreds or thousands of successful companies, most of them are almost unknown in the Western Hemisphere (especially when moving outside of the investing world). And while most investors are familiar with Tencent, there is at least one other company almost every investor has heard of: Alibaba Group Holding Limited (BABA). In the following article, I will analyze Alibaba in my usual way. I will try to determine if Alibaba is a solid business with a wide economic moat and try to answer the question if Alibaba is a solid investment right now.\nBusiness Description\nAlibaba Group was founded in 1999 by 18 individuals. Nevertheless, one of these 18 stands out – the former English teacher from Hangzhou, Jack Ma. Over the years, Alibaba evolved in a multinational technology company and with a market capitalization of $570 billion, Alibaba is on the 10thspot on the list of most valuable companies in the world (by market cap). And behind Tencent, which is on the 7thspot on that list, Alibaba is the second most valuable company in China.\nWhile Alibaba is mostly focused on e-commerce and retail operations, the Alibaba Group is actually a holding company with many different sales services. This includes C2C services, B2C services and B2B services. Aside from retail, the Alibaba Group also offers electronic payment services, shipping search engines and could computing services. The group owns and operates a diverse portfolio of companies around the world in numerous business sectors.\n(Source:Alibaba Q4/20 Presentation)\nAlibaba is reporting in four different segments:\n\nCore Commerce Revenue: This segment is comprised of platforms operating in retail and wholesale commerce in China as well as logistics services and local consumer services. In fiscal 2021, this segment generated RMB 621.1 billion in revenue and RMB 159 billion in income from operations.\nCloud Computing Revenue: This segment is comprised of Alibaba Cloud, which offers different cloud services to customers worldwide like database, storage, big data analytics, a machine learning platform and large-scale computing security. In fiscal 2021, this segment generated RMB 60.1 billion, but the segment was not profitable so far (a loss of RMB 9 billion).\nDigital Media and Entertainment Revenue: This segment uses the deep data insights to serve the broader interests of consumers through key distribution platforms Youku and Alibaba Pictures as well as other content platforms that provide online videos, films, live events, literature and music. In fiscal 2021, this segment generated RMB 31.2 billion, but was also not profitable.\nInnovation Initiatives and Others Revenue: This segment includes businesses like Amap, DingTalk, Tmall Genie and others. In fiscal 2021, this segment generated RMB 4.8 billion in revenue, but also an operating loss.\n\n(Source: Alibaba Q4/20 Presentation)\nWhen looking at the last annual results (fiscal 2021), Alibaba generated RMB 717.3 billion in revenue. Compared to fiscal 2020 (RMB 509.7 billion) this is reflecting an increase of 41%. Adjusted EBITDA in fiscal 2021 was RMB 196.8 billion – an increase of 25% compared to fiscal 2020 (adjusted EBITA of RMB 157.7 billion). Diluted earnings per share actually decreased from RMB 6.99 in fiscal 2020 to RMB 6.84 in fiscal 2021 – reflecting a decrease of 2.1%. But we should not pay too much attention to the earnings per share. Instead, it makes much more sense to look at the free cash flow Alibaba is generating. In fiscal 2021, Alibaba generated RMB 172.7 billion in free cash flow compared to RMB 130.9 billion in free cash flow one year earlier.\nStrong Business Among Strong Competitors\nWhat is striking when looking at Alibaba – and what has been discussed several times – is the low multiple for which Alibaba is currently trading. When using the trailing twelve-month GAAP numbers, Alibaba is trading for 25 times earnings, when using the non-GAAP forward numbers, it is trading for a P/E ratio of 20.\nWe can compare Alibaba to its peers – companies like Amazon (AMZN), Tencent, Facebook (FB), Microsoft (MSFT) or Alphabet (GOOG). And Alibaba actually belongs in that list as it is not only operating in similar business segments, but it is also growing with similarly high rates. And Alibaba is not only growing with a similar pace; it is actually outperforming most of its peers.\n(Source:Alibaba 2020 Investor Presentations)\nWhile Alibaba is growing with a similar pace like these companies, it is trading for a completely different multiple. Right now, Alibaba is trading for a price-cash-flow ratio of 17, while competitors like Tencent, Facebook or Microsoft are trading for a P/FCF ratio between 35 and 40. It is striking, that the market is assigning these competitors a multiple twice as high and Amazon is actually trading for a multiple more than 4 times higher (price-free-cash-flow ratio of 76).\nData by YCharts\nRight now, readers might point out, that the comparison to Amazon is misleading as Amazon is still spending a lot of money to achieve future growth and therefore has a lower profit than other companies. And it certainly is true, that Amazon is still focusing on top line growth – sometimes at the expense of bottom-line growth – but so does Alibaba.\nWhile Amazon spent 10.4% of its revenue as capital expenditures in the last fiscal year, Alibaba spent almost the same amount – 8.9% of revenue. And when looking at the expenses for research and development, we once again see similar numbers. In the last five years, Amazon spent 12.16% of revenue on R&D on average while Alibaba spent 10.38% of its revenue on R&D.\nBut while these numbers are quite similar for both companies – Amazon is spending a bit more on R&D than Alibaba – the free cash flow these two companies can generate is completely different. While Amazon only generated 6.7% of revenue as free cash flow in the last fiscal year, Alibaba generated 26.5% of revenue as free cash flow in the last fiscal year – almost four times higher.\nAnd Alibaba is not only extremely profitable – it was growing with an extremely high pace in the past. During the past ten years, Alibaba could not only grow revenue every single year, it also grew revenue with a CAGR of 62.6%. Earnings per share fluctuated a little bit during these ten years but grew with an even higher pace – a CAGR of 76.29% during the last decade. And finally, free cash flow increased with a CAGR of 59.62% during the last decade.\n(Source: Author’s work based on numbers from Morningstar)\nWhen looking at Alibaba’s growth rates in the last few years compared to its competitors, Alibaba is also outperforming. When looking at the revenue CAGR of the last 5 years, we get the following numbers:\n\nAmazon: 29.26%\nFacebook: 36.82%\nTencent: 36.20%\nAlphabet: 19.47%\nMicrosoft: 8.85%\nAlibaba: 46.24%\n\nWe can spin it how we want: Alibaba is an extremely profitable company growing with extremely high rates but is trading at an extremely low multiple compared to its competitors. It is growing with a higher pace than Microsoft and Facebook, but trading for half the multiple. It is much more profitable than Amazon and also growing at a higher pace, but trading for a quarter of the valuation multiple. At this point, profitability and growth of Alibaba on the one side and the valuation multiple on the other side does not add up. And we have to ask the question, why Alibaba is trading for such a low multiple although it is outperforming many of its peers that trade for much higher multiples.\nRisks\nWhen looking at the past performance of Alibaba, we can see, that steep selloffs are quite common as a similar sell-off happened already three times since the IPO in 2014 with the steepest sell-off being more than 50% off the previous high.\nData byYCharts\nWhile this might help us a bit, we are still facing high levels of uncertainty and investors usually don’t like uncertainty. Basically, this uncertainty can be summed up in one short sentence: The tense relationship between Alibaba’s founder Jack Ma and the Chinese government is worrying for investors. And this tense relationship is exemplified by several events. It started last year, when the IPO of the company’s fintech affiliate Ant Financial was cancelled. \nThis was followed by theinitiation of an antitrust investigation, in which it is investigated if Alibaba had engaged in monopolistic practices (like preventing vendors from selling on other platforms). Additionally, new supervision for Ant Group was also discussed. And finally, at the end of 2020, Jack Ma went missing and it took about three months before the public would hear from him again – another worrying aspect for investors.\nAs long as we are talking about risks, there are other aspect I like to mention. I compared Alibaba to Amazon above – and I still think that comparison is appropriate. But we also have to acknowledge, that Alibaba growth potential is limited as the company is mostly focused on China and might have more difficulties to expand globally – compared to Amazon. But considering the growing middle class in China and the high pace with which the economy is still growing we should not worry too much about Alibaba’s growth potential.\nThere is a final risk Imentioned in my last article about Tencentand that risk is also applying to Alibaba:\n\n And a final risk is the fact that Tencent is a Chinese company. It is especially difficult to understand different trends before they are happening and predict the future, but while I am familiar with the German culture and the people (habits, preferences, etc.) and can deal with similar countries like France, the United Kingdom, Sweden or the United States, it is rather difficult for me to understand and analyze the consumer behavior and preferences of the Chinese population. This makes it difficult to assess the potential and development of the products and services Tencent offers.\n\nBut despite all these issues, there is a comparison I like very much. Very recently,one of my fellow contributorscompared Alibaba’s situation right now to Facebook a few years ago, when it was facing the Cambridge Analytics scandal and also trading for extremely low multiples due to the uncertainties. And it is also interesting, that Wall Street analysts as well as Seeking Alpha contributors are extremely bullish about Alibaba right now.\n(Source:Seeking Alpha)\nBalance Sheet\nWhen facing challenges, it is especially reassuring if we are dealing with a solid balance sheet enabling the company to withstand challenges and stormy market conditions. And similar to many companies mentioned above – like Facebook or Alphabet – Alibaba also has a great balance sheet. We don’t have to worry about high debt levels although Alibaba has current bank borrowings of RMB 3.6 billion and non-current bank borrowings of RMB 38.3 billion on its balance sheet. But compared to a total equity of RMB 1,075 billion, we get a D/E ratio of 0.04, which is negligible. Aside from the debt, the biggest problem is probably the company’s goodwill. On March 31, 2021, Alibaba had RMB 292.8 billion in goodwill. This means, that 17.3% of total assets (RMB 1,690 billion) is goodwill.\n(Source:Alibaba Q4/21 Earnings Release)\nBut aside from goodwill, Alibaba also has RMB 321.3 billion in cash and cash equivalents as well as RMB 152.4 billion in short-term investments on its balance sheet. Aside from these rather liquid assets, Alibaba also has RMB 237.2 billion in equity securities and other investments, that are also worth mentioning. I included a screenshot of the latest balance sheet, which is also including the numbers in US$. Especially $72 billion in very liquid assets give Alibaba a lot of “financial power” and the ability to negative troubles.\nIntrinsic Value Calculation\nI already mentioned above that Alibaba is trading at rather low multiples – at least when compared to its peers and especially for a company growing with a high pace. And compared to the company’s history, the stock is right now trading almost for its lowest P/FCF ratio since the IPO. A few times – in 2016, 2018 and 2020 – the stock was trading at a similar low P/FCF ratio. From that point of view, Alibaba has to be considered extremely cheap.\n(Source:Seeking Alpha Charting)\nWhen you are familiar with my past articles, you know that I don’t just use valuation multiples but also a discount cash flow analysis, which is considered to be much more precise (although we have to make a lot more assumptions). When taking the free cash flow of fiscal 2021 (RMB 172.7 billion) as basis, Alibaba has to grow about 5.5% annually from now till perpetuity for the stock to be fairly valued (the intrinsic value is RMB 1,367; discount rate 10%).\nInstead, we can also calculate with more realistic growth rates. If we assume, that Alibaba won’t go under, we have to assume at least 20% growth for the next year. Let’s be rather pessimistic and assume, that growth will slowly decline over the next decade and in 10 years from now, the growth rate will only be 6% till perpetuity. When using these numbers, we get an intrinsic value of RMB 2,596. And we have to assume, that these growth assumptions are rather cautious for a company like Alibaba.\nConclusion\nSo far, we talked about risks, about past growth rates, compared Alibaba to its peers and provided an intrinsic value calculation. I also wanted to write about the growth potential as well as the wide economic moat, that Alibaba has without any doubt – similar toAmazon,FacebookorTencent. But the article would probably be too long then. Instead, I included links to three articles in which I described the economic moat of these businesses.\nWhen summing up, it is quite simple. When we assume, that Alibaba is in serious trouble and might be brought down in some way or is facing troubles, that will seriously mess with the company’s ability to grow, we should not invest in Alibaba. These risks are present, and we actually don’t know what could happen in the coming quarters (or years). However, I consider it extremely unlikely, that China will destroy its second most-valuable company. If we assume on the other side, that this is just a small hick-up and troubles Alibaba can work through in the coming quarters and Alibaba will continue to perform in a similar way as in the past (even with growth rates slowing down), Alibaba is probably one of the most undervalued stocks out there and an extreme bargain.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099827044,"gmtCreate":1643332779280,"gmtModify":1676533806489,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"Join in the fun!","listText":"Join in the fun!","text":"Join in the fun!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099827044","repostId":"9004448317","repostType":1,"repost":{"id":9004448317,"gmtCreate":1642676525258,"gmtModify":1676533734534,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859","authorIdStr":"3527667667103859"},"themes":[],"title":"Join Tiger Ski Championship, Win a Bonus of Up to USD 2022","htmlText":"2022 is the Year of Tiger in Chinese lunar calendar, it’s also a special year for Tiger Brokers. To celebrate the special year, we want to invite you to join the ski game presented by Tiger Brokers specially, and it’s very easy and interesting game for users to play. Join the game and win a bonus of up to USD 2022 and limited-edition Tiger Toys Spring Festival and Winter Olympic are both on the way, open your Tiger Trade App and play the ski game with us, win golden medals as many as you can! You could have chance to try Lucky Draw when you win medals.The more medal you win, the bigger bonus you may win! Big Rewards are as follow: <a href=\"https://www.tigerbrokers.com.sg/activity/market/2022/happy-new-year/#/\" target=\"_blank\">Click to Join the Game</a>","listText":"2022 is the Year of Tiger in Chinese lunar calendar, it’s also a special year for Tiger Brokers. To celebrate the special year, we want to invite you to join the ski game presented by Tiger Brokers specially, and it’s very easy and interesting game for users to play. Join the game and win a bonus of up to USD 2022 and limited-edition Tiger Toys Spring Festival and Winter Olympic are both on the way, open your Tiger Trade App and play the ski game with us, win golden medals as many as you can! You could have chance to try Lucky Draw when you win medals.The more medal you win, the bigger bonus you may win! Big Rewards are as follow: <a href=\"https://www.tigerbrokers.com.sg/activity/market/2022/happy-new-year/#/\" target=\"_blank\">Click to Join the Game</a>","text":"2022 is the Year of Tiger in Chinese lunar calendar, it’s also a special year for Tiger Brokers. To celebrate the special year, we want to invite you to join the ski game presented by Tiger Brokers specially, and it’s very easy and interesting game for users to play. Join the game and win a bonus of up to USD 2022 and limited-edition Tiger Toys Spring Festival and Winter Olympic are both on the way, open your Tiger Trade App and play the ski game with us, win golden medals as many as you can! You could have chance to try Lucky Draw when you win medals.The more medal you win, the bigger bonus you may win! Big Rewards are as follow: Click to Join the Game","images":[{"img":"https://static.tigerbbs.com/a7b44fa056439fb4010fa55e163d27c3","width":"750","height":"1726"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004448317","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892340658,"gmtCreate":1628640790074,"gmtModify":1676529804083,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"[Miser]&nbsp;pretty crazy","listText":"[Miser]&nbsp;pretty crazy","text":"[Miser] pretty crazy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892340658","repostId":"1109743540","repostType":4,"repost":{"id":"1109743540","kind":"news","pubTimestamp":1628607810,"share":"https://ttm.financial/m/news/1109743540?lang=&edition=fundamental","pubTime":"2021-08-10 23:03","market":"us","language":"en","title":"Lightning eMotors Surges 60% On New Contract","url":"https://stock-news.laohu8.com/highlight/detail?id=1109743540","media":"Benzinga","summary":"Electric vehicle manufacturer Lightning eMotors Inc went publicvia SPAC and saw shares fall below $10 after the merger was completed.Here’s why shares are spiking past the $10 level Tuesday.What Happened:Lightning eMotors announceda multiyear deal with Forest River, a company owned by Berkshire Hathaway.The deal could be valued at up to $850 million with a total of 7,500 vehicles that could be delivered.The agreement will have Lightning eMotors build electric powertrains and provide charging pro","content":"<p>Electric vehicle manufacturer&nbsp;<b>Lightning eMotors Inc</b>&nbsp;went publicvia SPAC and saw shares fall below $10 after the merger was completed.</p>\n<p>Here’s why shares are spiking past the $10 level Tuesday.</p>\n<p><b>What Happened:</b>Lightning eMotors&nbsp;announceda multiyear deal with&nbsp;<b>Forest River</b>, a company owned by&nbsp;<b>Berkshire Hathaway</b>(NYSE:BRK-A)(NYSE:BRK-B).</p>\n<p>The deal could be valued at up to $850 million with a total of 7,500 vehicles that could be delivered.</p>\n<p>The agreement will have&nbsp;Lightning eMotors build&nbsp;electric powertrains and provide&nbsp;charging products for four and a half years. The products will be shipped to Forest River’s factory for final assembly of the Class 4 and Class 5 passenger buses.</p>\n<p>Forest River will dedicate 100,000 square feet of its factory to installing the Lightning eMotors powertrains.</p>\n<p>The buses will have a range of 80 to 160 miles and can recharge over a “lunch break” with DC fast charging from Lightning eMotors. The buses are designed to have&nbsp;12 to 33 passenger seats according to the release.</p>\n<p><b>Why It’s Important:</b>Forest River is the largest shuttle bus market producer in North America. The company delivered 100,000&nbsp;buses in July 2020.</p>\n<p>Forest River has more&nbsp;than 100 bus dealership locations in the U.S. that will sell and service the buses from the Lightning eMotors partnership.</p>\n<p>The deal calls for up to 7,500 buses and $850 million in revenue for Lightning eMotors, which would be the largest deal in company history and also a major milestone for the industry.</p>\n<p>“This has the potential to be the largest contract ever in the electric shuttle bus market and we believe it will be the catalyst for other large commercial vehicle OEMs and fleets to accelerate their adoption of commercial electric vehicles,” Lightning eMotors CEO<b>Tim Resser</b>said.</p>\n<p>The partnership with Fox River will allow Lightning eMotors to provide a price point for customers “that results in a very compelling ROI,” Reeser said.</p>\n<p><b>ZEV Price Action:</b>ZEV shares are up 61.93% to $10.38&nbsp;Tuesday.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nLightning eMotors Surges 60% On New Contract\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 23:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/08/22421931/lightning-emotors-surges-60-on-new-contract><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Electric vehicle manufacturer Lightning eMotors Inc went publicvia SPAC and saw shares fall below $10 after the merger was completed.\nHere’s why shares are spiking past the $10 level Tuesday.\nWhat ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22421931/lightning-emotors-surges-60-on-new-contract\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZEV":"Lightning eMotors, Inc."},"source_url":"https://www.benzinga.com/news/21/08/22421931/lightning-emotors-surges-60-on-new-contract","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109743540","content_text":"Electric vehicle manufacturer Lightning eMotors Inc went publicvia SPAC and saw shares fall below $10 after the merger was completed.\nHere’s why shares are spiking past the $10 level Tuesday.\nWhat Happened:Lightning eMotors announceda multiyear deal with Forest River, a company owned by Berkshire Hathaway(NYSE:BRK-A)(NYSE:BRK-B).\nThe deal could be valued at up to $850 million with a total of 7,500 vehicles that could be delivered.\nThe agreement will have Lightning eMotors build electric powertrains and provide charging products for four and a half years. The products will be shipped to Forest River’s factory for final assembly of the Class 4 and Class 5 passenger buses.\nForest River will dedicate 100,000 square feet of its factory to installing the Lightning eMotors powertrains.\nThe buses will have a range of 80 to 160 miles and can recharge over a “lunch break” with DC fast charging from Lightning eMotors. The buses are designed to have 12 to 33 passenger seats according to the release.\nWhy It’s Important:Forest River is the largest shuttle bus market producer in North America. The company delivered 100,000 buses in July 2020.\nForest River has more than 100 bus dealership locations in the U.S. that will sell and service the buses from the Lightning eMotors partnership.\nThe deal calls for up to 7,500 buses and $850 million in revenue for Lightning eMotors, which would be the largest deal in company history and also a major milestone for the industry.\n“This has the potential to be the largest contract ever in the electric shuttle bus market and we believe it will be the catalyst for other large commercial vehicle OEMs and fleets to accelerate their adoption of commercial electric vehicles,” Lightning eMotors CEOTim Ressersaid.\nThe partnership with Fox River will allow Lightning eMotors to provide a price point for customers “that results in a very compelling ROI,” Reeser said.\nZEV Price Action:ZEV shares are up 61.93% to $10.38 Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":288,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899409873,"gmtCreate":1628208806692,"gmtModify":1703503093380,"author":{"id":"3581750430248568","authorId":"3581750430248568","name":"Terriber","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581750430248568","authorIdStr":"3581750430248568"},"themes":[],"htmlText":"Interesting proposition","listText":"Interesting proposition","text":"Interesting proposition","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/899409873","repostId":"2157243466","repostType":4,"isVote":1,"tweetType":1,"viewCount":396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}