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2021-04-28

Interesting portfolio

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2021-04-28

Thanks for the article

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2021-04-28

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Not o","content":"<p>As more and more states legalize marjiuana, federal legalization in the U.S. seems inevitable. Not only are more states passing legislation to permit recreational use, but a vast majority of Americans also support legalization. According to a recent survey, Pew Research found that 91% of people in the U.S. believe marijuana should be legal for either medical or recreational use, with 60% in favor of both. President Joe Biden is in favor of decriminalizing marijuana, while Senate Majority Leader Chuck Schumer is ready to push ahead with full legalization efforts even if Biden isn't completely on board just yet.</p><p>When legalization happens, there are many Canadian cannabis producers that will be ready to expand their presence south of the border.<b>Canopy Growth</b>(NASDAQ:CGC), soon-to-be-joined<b>Aphria</b>(NASDAQ:APHA)and<b>Tilray</b>(NASDAQ:TLRY),&nbsp;<b>Cronos</b>(NASDAQ:CRON), and&nbsp;<b>Aurora Cannabis</b>(NYSE:ACB)could be some of the biggest winners if (or, when) the U.S. pot market opens up.</p><p><img src=\"https://static.tigerbbs.com/31372c5518facc6093b15a7ca40146a4\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p>IMAGE SOURCE: GETTY IMAGES.</p><p>1. Canopy Growth</p><p>Canopy Growth has partnerships set up so that it can start working on expansion almost immediately after legalization takes place. One of the first things it would be able to do is close on its acquisition of<b>Acreage Holdings</b>. Although the two companies came to an agreement in 2019, the transaction is still pending.&nbsp;The multistate operator has a footprint in 13 states with 29 dispensaries that are up and running. In 2020, it reported sales of $114.5 million, which rose 55% year over year. With Acreage Holdings, Canopy Growth would be ready to rival big names like<b>Curaleaf</b>and&nbsp;<b>Trulieve</b>right off the bat.</p><p>Plus, the company is also working with investor<b>ConstellationBrands</b>, which owns nearly 40% of the business, to develop cannabis beverages. Tapping into Constellation's distribution network, Canopy Growth will be poised to grab even more potential market share right out of the gate. And that is why thismarijuana stockis at the top of this list -- it is easily the best positioned cannabis company in Canada to benefit from U.S. legalization.</p><p>2. Aphria and Tilray</p><p>Themerger between Aphria and Tilrayputs these two companies next on this list as together, they will have the next-best opportunities in the U.S. In November, Aphria announced the acquisition of SweetWater Brewing. And although the craft brewer does have the 420 brand, which suggests that it makes cannabis drinks, it actually uses hemp (which is legal in the U.S.) to<i>emulate</i>popular cannabis strains. Legalization would pave the way for the real deal. Tilray has partnered with<b>Anheuser-Busch Inbev</b>since 2018 on developing drinks for the Canadian pot market, and it will also have beverages that are ready to go.</p><p>Tilray has also been building out its position in other ways. Hemp plays a big part in its business, generating more than one-third of its revenue in 2020. In 2019, Tilray acquired Manitoba Harvest, a leading hemp business with products that are sold in thousands of retailers across the U.S. and Canada. Through its hemp operations, Tilray can leverage the existing relationships it has with retailers to potentially sell other cannabis products to them post-legalization.</p><p>3. Cronos</p><p>Cronos acquired cannabidiol (CBD) brand Lord Jones in 2019 from Redwood Holding Group. The company sells a variety of CBD-infused products, including oils and gummies.&nbsp;Last year, sales from the U.S. totaled $9.5 million and accounted for just 20% of its consolidated net revenue. But Cronos is definitely looking to change that. Earlier this year it partnered with actress Kristen Bell to launch a series of CBD products under its Happy Dance brand, which will be available at more than 550<b>Ulta Beauty</b>locations.</p><p>Like Canopy Growth, Cronos also benefits from having a partner that can accelerate its growth in the U.S. Tobacco giant<b>Altria</b>invested $1.8 billion into the cannabis company in 2018.&nbsp;With deep pockets and wide reach across the states, Altria can help Cronos break into more markets after legalization.</p><p>4. Aurora Cannabis</p><p>Aurora doesn't have a big partner it can lean on, but the company has been making moves to take advantage of opportunities in the U.S. In May 2020, it announced entry into the U.S. market through the acquisition of Reliva, which makes CBD products. The acquisition also brought on board CEO Miguel Martin, who was previously at the helm of Reliva and has 25 years of experience in consumer packaged goods. Reliva's products are in more than 20,000 retail locations and at the time of the acquisition, it claimed to be the \"only CBD company in the three largest U.S. wholesale distributors.\"</p><p>Although Aurora doesn't specifically break out U.S.-related sales, it is safe to assume this transaction, which cost the company approximately $40 million worth of shares (potentially up to $45 million), isn't going to put the company into as promising a position as the other pot stocks on this list. Aurora closed on the transaction in May 2020, but even when including Reliva's results into its operations, it has struggled to generate meaningful growth. In its second-quarter earnings report, released on Feb. 11, its net revenue of 67.7 million Canadian dollars for the period ending Dec. 31, 2020 was flat from the previous period.</p><p>However, investors shouldn't count the company out. Once pot is legal in the U.S., that may open the door for other potential deals for Aurora. Although billionaire investor Nelson Peltz was unable to broker a transaction, more opportunities could arise once the prohibition of marijuana is over and it no longer deters companies in other industries from jumping into the cannabis sector.</p><p>Here's The Marijuana Stock You've Been Waiting For</p><p>A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.</p><p>And make no mistake – it is coming.</p><p>Cannabis legalization is sweeping over North America – 16 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.</p><p>And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.</p><p>Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.</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>4 Canadian Cannabis Companies Poised to Profit from U.S. Legalization</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Canadian Cannabis Companies Poised to Profit from U.S. Legalization\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-27 22:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/27/4-canadian-cannabis-companies-poised-to-profit-fro/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As more and more states legalize marjiuana, federal legalization in the U.S. seems inevitable. Not only are more states passing legislation to permit recreational use, but a vast majority of Americans...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/27/4-canadian-cannabis-companies-poised-to-profit-fro/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"APHA":"Aphria Inc.","ACB":"奥罗拉大麻公司","CGC":"Canopy Growth Corporation","TLRY":"Tilray Inc.","CRON":"Cronos Group Inc."},"source_url":"https://www.fool.com/investing/2021/04/27/4-canadian-cannabis-companies-poised-to-profit-fro/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194611822","content_text":"As more and more states legalize marjiuana, federal legalization in the U.S. seems inevitable. Not only are more states passing legislation to permit recreational use, but a vast majority of Americans also support legalization. According to a recent survey, Pew Research found that 91% of people in the U.S. believe marijuana should be legal for either medical or recreational use, with 60% in favor of both. President Joe Biden is in favor of decriminalizing marijuana, while Senate Majority Leader Chuck Schumer is ready to push ahead with full legalization efforts even if Biden isn't completely on board just yet.When legalization happens, there are many Canadian cannabis producers that will be ready to expand their presence south of the border.Canopy Growth(NASDAQ:CGC), soon-to-be-joinedAphria(NASDAQ:APHA)andTilray(NASDAQ:TLRY), Cronos(NASDAQ:CRON), and Aurora Cannabis(NYSE:ACB)could be some of the biggest winners if (or, when) the U.S. pot market opens up.IMAGE SOURCE: GETTY IMAGES.1. Canopy GrowthCanopy Growth has partnerships set up so that it can start working on expansion almost immediately after legalization takes place. One of the first things it would be able to do is close on its acquisition ofAcreage Holdings. Although the two companies came to an agreement in 2019, the transaction is still pending. The multistate operator has a footprint in 13 states with 29 dispensaries that are up and running. In 2020, it reported sales of $114.5 million, which rose 55% year over year. With Acreage Holdings, Canopy Growth would be ready to rival big names likeCuraleafand Trulieveright off the bat.Plus, the company is also working with investorConstellationBrands, which owns nearly 40% of the business, to develop cannabis beverages. Tapping into Constellation's distribution network, Canopy Growth will be poised to grab even more potential market share right out of the gate. And that is why thismarijuana stockis at the top of this list -- it is easily the best positioned cannabis company in Canada to benefit from U.S. legalization.2. Aphria and TilrayThemerger between Aphria and Tilrayputs these two companies next on this list as together, they will have the next-best opportunities in the U.S. In November, Aphria announced the acquisition of SweetWater Brewing. And although the craft brewer does have the 420 brand, which suggests that it makes cannabis drinks, it actually uses hemp (which is legal in the U.S.) toemulatepopular cannabis strains. Legalization would pave the way for the real deal. Tilray has partnered withAnheuser-Busch Inbevsince 2018 on developing drinks for the Canadian pot market, and it will also have beverages that are ready to go.Tilray has also been building out its position in other ways. Hemp plays a big part in its business, generating more than one-third of its revenue in 2020. In 2019, Tilray acquired Manitoba Harvest, a leading hemp business with products that are sold in thousands of retailers across the U.S. and Canada. Through its hemp operations, Tilray can leverage the existing relationships it has with retailers to potentially sell other cannabis products to them post-legalization.3. CronosCronos acquired cannabidiol (CBD) brand Lord Jones in 2019 from Redwood Holding Group. The company sells a variety of CBD-infused products, including oils and gummies. Last year, sales from the U.S. totaled $9.5 million and accounted for just 20% of its consolidated net revenue. But Cronos is definitely looking to change that. Earlier this year it partnered with actress Kristen Bell to launch a series of CBD products under its Happy Dance brand, which will be available at more than 550Ulta Beautylocations.Like Canopy Growth, Cronos also benefits from having a partner that can accelerate its growth in the U.S. Tobacco giantAltriainvested $1.8 billion into the cannabis company in 2018. With deep pockets and wide reach across the states, Altria can help Cronos break into more markets after legalization.4. Aurora CannabisAurora doesn't have a big partner it can lean on, but the company has been making moves to take advantage of opportunities in the U.S. In May 2020, it announced entry into the U.S. market through the acquisition of Reliva, which makes CBD products. The acquisition also brought on board CEO Miguel Martin, who was previously at the helm of Reliva and has 25 years of experience in consumer packaged goods. Reliva's products are in more than 20,000 retail locations and at the time of the acquisition, it claimed to be the \"only CBD company in the three largest U.S. wholesale distributors.\"Although Aurora doesn't specifically break out U.S.-related sales, it is safe to assume this transaction, which cost the company approximately $40 million worth of shares (potentially up to $45 million), isn't going to put the company into as promising a position as the other pot stocks on this list. Aurora closed on the transaction in May 2020, but even when including Reliva's results into its operations, it has struggled to generate meaningful growth. In its second-quarter earnings report, released on Feb. 11, its net revenue of 67.7 million Canadian dollars for the period ending Dec. 31, 2020 was flat from the previous period.However, investors shouldn't count the company out. Once pot is legal in the U.S., that may open the door for other potential deals for Aurora. Although billionaire investor Nelson Peltz was unable to broker a transaction, more opportunities could arise once the prohibition of marijuana is over and it no longer deters companies in other industries from jumping into the cannabis sector.Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.And make no mistake – it is coming.Cannabis legalization is sweeping over North America – 16 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377716151,"gmtCreate":1619565420273,"gmtModify":1704725883182,"author":{"id":"3582656654028726","authorId":"3582656654028726","name":"BryTan","avatar":"https://static.tigerbbs.com/16c10be2f081c8f11ec0fe39f875fe9b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582656654028726","authorIdStr":"3582656654028726"},"themes":[],"htmlText":"Thanks for the article","listText":"Thanks for the article","text":"Thanks for the article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377716151","repostId":"1147181024","repostType":4,"repost":{"id":"1147181024","pubTimestamp":1619531957,"share":"https://ttm.financial/m/news/1147181024?lang=&edition=fundamental","pubTime":"2021-04-27 21:59","market":"us","language":"en","title":"How Warren Buffett's airline stocks have performed since Berkshire Hathaway sold them","url":"https://stock-news.laohu8.com/highlight/detail?id=1147181024","media":"Yahoo","summary":"Warren Buffett has a storied history with airline stocks, oncequipping, \"I am Warren and I am an aer","content":"<p>Warren Buffett has a storied history with airline stocks, oncequipping, \"I am Warren and I am an aeroholic.\" But the spectacular returns for the industry over the last year are casting a dark cloud on Berkshire Hathaway's decisionto dump all of its airline holdingsin May 2020 as prices were bottoming. Berkshire loaded up on stock of the four major U.S. carriers in 2016.</p>\n<p>At the 2020 Berkshire annual shareholders meeting, Buffett said he'd spent $7 billion to $8 billionamassing stakesin Delta Air Lines, United Airlines, American Airlines and Southwest Airlines. He didn't comment on the exit prices except to say, \"We did not take out anything like $7 [billion] or $8 billion.\" This contributed to Berkshire's massive $50 billion loss in the first quarter of 2020.</p>\n<p>Since then the stocks have taken off, with American and Southwest up over 80% since their May 25, 2020 bottom, while United and Delta are up about 70%. Measuring gains from the May 25, 2020 trough of all four airlines produces even more spectacular results. United was up over 200% over the period, while American was up 190%.</p>\n<p>The worst losses over the period, which aren't necessarily reflective of Berkshire losses in the positions, were palpable. United was down over 70% at the nadir, and both Delta and American had sunk over 60%. An investment that loses 70% requires a 333% gain to get back to breakeven.</p>\n<p>Buffett's first airline</p>\n<p>Buffett's first investment foray into airlines began with USAir preferred stock in 1989. While Berkshire made money on the dividends, Buffett himself would lament the decision for decades, casting aspersions on the low-profit, expensive nature of the industry.</p>\n<p>In the sameinterviewwhere Buffett self-identified as an \"aeroholic,\" he said, \"If a capitalist had been present at Kitty Hawk back in the early 1900s, he should have shot Orville Wright. He would have saved his progeny money. But seriously, the airline business has been extraordinary. It has eaten up capital over the past century like almost no other business because people seem to keep coming back to it and putting fresh money in. You've got huge fixed costs, you've got strong labor unions and you've got commodity pricing. That is not a great recipe for success.\"</p>\n<p>And yet, 2016 happened — when Berkshire first loaded up on the industry in a big way. In itsannual shareholder letterfor that fiscal year, Buffett didn't address the new airline stock holdings — except with a passing joke about shareholders flying into the annual meeting.</p>\n<p>\"Keep in mind that airlines have sometimes jacked up prices for the Berkshire weekend — though I must admit I have developed some tolerance, bordering on enthusiasm, for that practice now that Berkshire has made large investments in America’s four major carriers,\"wrote Buffett.</p>\n<p>When Buffett finally cut Berkshire's losses in 2020, Bill Smead, chief investment officer of Smead Capital Management, wrote acritical reviewof the matter but was careful to praise Buffett's tremendous historical track record.</p>\n<p>\"We are big fans of Buffett’s theories about businesses with low capital requirements and the ability to throw off cash to owners. Unfortunately, he recently emphasized indexing and didn’t shy folks away from today’s glamour tech stocks which require more and more capital,\" wrote Smead.</p>\n<p>From great to gruesome</p>\n<p>InBerkshire’s 2007 Letter to Shareholders, Buffett outlined three types of enterprises that he characterized as “The Great, the Good and the Gruesome. \"[T]think of three types of 'savings accounts.' The great one pays an extraordinarily high interest rate that will rise as the years pass. The good one pays an attractive rate of interest that will be earned also on deposits that are added. Finally, the gruesome account both pays an inadequate interest rate and requires you to keep adding money at those disappointing returns.\"</p>\n<p>Smead suggests Buffett should have taken his own advice. \"He profiled 'gruesome' business[es] by using airlines as his poster child and described them in the opening quote of this letter. Buffett would have been well served by listening to his 13-year-younger self, and we think his description of gruesome stocks should serve us well in assessing today’s market.\"</p>\n<p>A year later, Smead served up a reminder for investors to stick to their competency, saying to Yahoo Finance viewers in an interview, \"[Buffett] got reminded that he should belong to airlines anonymous. And by the way, all of us have investors in industries or sectors that we should probably never get involved in.\"</p>","source":"lsy1584348713084","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>How Warren Buffett's airline stocks have performed since Berkshire Hathaway sold them</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\">\nHow Warren Buffett's airline stocks have performed since Berkshire Hathaway sold them\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-27 21:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/how-warren-buffetts-airline-stocks-have-performed-since-berkshire-hathaway-sold-them-134849843.html><strong>Yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett has a storied history with airline stocks, oncequipping, \"I am Warren and I am an aeroholic.\" But the spectacular returns for the industry over the last year are casting a dark cloud on...</p>\n\n<a href=\"https://finance.yahoo.com/news/how-warren-buffetts-airline-stocks-have-performed-since-berkshire-hathaway-sold-them-134849843.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAL":"美国航空","UAL":"联合大陆航空"},"source_url":"https://finance.yahoo.com/news/how-warren-buffetts-airline-stocks-have-performed-since-berkshire-hathaway-sold-them-134849843.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147181024","content_text":"Warren Buffett has a storied history with airline stocks, oncequipping, \"I am Warren and I am an aeroholic.\" But the spectacular returns for the industry over the last year are casting a dark cloud on Berkshire Hathaway's decisionto dump all of its airline holdingsin May 2020 as prices were bottoming. Berkshire loaded up on stock of the four major U.S. carriers in 2016.\nAt the 2020 Berkshire annual shareholders meeting, Buffett said he'd spent $7 billion to $8 billionamassing stakesin Delta Air Lines, United Airlines, American Airlines and Southwest Airlines. He didn't comment on the exit prices except to say, \"We did not take out anything like $7 [billion] or $8 billion.\" This contributed to Berkshire's massive $50 billion loss in the first quarter of 2020.\nSince then the stocks have taken off, with American and Southwest up over 80% since their May 25, 2020 bottom, while United and Delta are up about 70%. Measuring gains from the May 25, 2020 trough of all four airlines produces even more spectacular results. United was up over 200% over the period, while American was up 190%.\nThe worst losses over the period, which aren't necessarily reflective of Berkshire losses in the positions, were palpable. United was down over 70% at the nadir, and both Delta and American had sunk over 60%. An investment that loses 70% requires a 333% gain to get back to breakeven.\nBuffett's first airline\nBuffett's first investment foray into airlines began with USAir preferred stock in 1989. While Berkshire made money on the dividends, Buffett himself would lament the decision for decades, casting aspersions on the low-profit, expensive nature of the industry.\nIn the sameinterviewwhere Buffett self-identified as an \"aeroholic,\" he said, \"If a capitalist had been present at Kitty Hawk back in the early 1900s, he should have shot Orville Wright. He would have saved his progeny money. But seriously, the airline business has been extraordinary. It has eaten up capital over the past century like almost no other business because people seem to keep coming back to it and putting fresh money in. You've got huge fixed costs, you've got strong labor unions and you've got commodity pricing. That is not a great recipe for success.\"\nAnd yet, 2016 happened — when Berkshire first loaded up on the industry in a big way. In itsannual shareholder letterfor that fiscal year, Buffett didn't address the new airline stock holdings — except with a passing joke about shareholders flying into the annual meeting.\n\"Keep in mind that airlines have sometimes jacked up prices for the Berkshire weekend — though I must admit I have developed some tolerance, bordering on enthusiasm, for that practice now that Berkshire has made large investments in America’s four major carriers,\"wrote Buffett.\nWhen Buffett finally cut Berkshire's losses in 2020, Bill Smead, chief investment officer of Smead Capital Management, wrote acritical reviewof the matter but was careful to praise Buffett's tremendous historical track record.\n\"We are big fans of Buffett’s theories about businesses with low capital requirements and the ability to throw off cash to owners. Unfortunately, he recently emphasized indexing and didn’t shy folks away from today’s glamour tech stocks which require more and more capital,\" wrote Smead.\nFrom great to gruesome\nInBerkshire’s 2007 Letter to Shareholders, Buffett outlined three types of enterprises that he characterized as “The Great, the Good and the Gruesome. \"[T]think of three types of 'savings accounts.' The great one pays an extraordinarily high interest rate that will rise as the years pass. The good one pays an attractive rate of interest that will be earned also on deposits that are added. Finally, the gruesome account both pays an inadequate interest rate and requires you to keep adding money at those disappointing returns.\"\nSmead suggests Buffett should have taken his own advice. \"He profiled 'gruesome' business[es] by using airlines as his poster child and described them in the opening quote of this letter. Buffett would have been well served by listening to his 13-year-younger self, and we think his description of gruesome stocks should serve us well in assessing today’s market.\"\nA year later, Smead served up a reminder for investors to stick to their competency, saying to Yahoo Finance viewers in an interview, \"[Buffett] got reminded that he should belong to airlines anonymous. And by the way, all of us have investors in industries or sectors that we should probably never get involved in.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377734045,"gmtCreate":1619565093987,"gmtModify":1704725872517,"author":{"id":"3582656654028726","authorId":"3582656654028726","name":"BryTan","avatar":"https://static.tigerbbs.com/16c10be2f081c8f11ec0fe39f875fe9b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582656654028726","authorIdStr":"3582656654028726"},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377734045","repostId":"1123159959","repostType":4,"repost":{"id":"1123159959","pubTimestamp":1619534712,"share":"https://ttm.financial/m/news/1123159959?lang=&edition=fundamental","pubTime":"2021-04-27 22:45","market":"hk","language":"en","title":"Ant Group's fast-tracked IPO prompts Chinese probe","url":"https://stock-news.laohu8.com/highlight/detail?id=1123159959","media":"seekingalpha","summary":"The Chinese government is reportedly investigating the speedy path to approval for fintech giant Ant","content":"<p>The Chinese government is reportedly investigating the speedy path to approval for fintech giant Ant Group's(NYSE:BABA)&nbsp;planned IPO&nbsp;dual listing latelast year.</p>\n<p>Wall Street Journal sourcessay the ongoing probe is looking into the regulators who approved the listing, local officials who promoted the listing, and the large state firms that would financially benefit from the offering.</p>\n<p>The government pulled Ant Group's blockbuster debut at the last minute, citing concerns about the company's lacking regulatory scrutiny. The move came after Ant Group founder and former Alibaba chairman Jack Ma publicly criticized regulators.</p>\n<p>The probe continues to cloud Ant's future IPO plans despite the company working on concessions, which reportedly include restructuring into a financial holding company and Jack Ma stepping backfrom the company.</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>Ant Group's fast-tracked IPO prompts Chinese probe</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\">\nAnt Group's fast-tracked IPO prompts Chinese probe\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-27 22:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3686139-ant-groups-fast-tracked-ipo-prompts-chinese-probe><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Chinese government is reportedly investigating the speedy path to approval for fintech giant Ant Group's(NYSE:BABA) planned IPO dual listing latelast year.\nWall Street Journal sourcessay the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3686139-ant-groups-fast-tracked-ipo-prompts-chinese-probe\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3686139-ant-groups-fast-tracked-ipo-prompts-chinese-probe","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123159959","content_text":"The Chinese government is reportedly investigating the speedy path to approval for fintech giant Ant Group's(NYSE:BABA) planned IPO dual listing latelast year.\nWall Street Journal sourcessay the ongoing probe is looking into the regulators who approved the listing, local officials who promoted the listing, and the large state firms that would financially benefit from the offering.\nThe government pulled Ant Group's blockbuster debut at the last minute, citing concerns about the company's lacking regulatory scrutiny. The move came after Ant Group founder and former Alibaba chairman Jack Ma publicly criticized regulators.\nThe probe continues to cloud Ant's future IPO plans despite the company working on concessions, which reportedly include restructuring into a financial holding company and Jack Ma stepping backfrom the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}