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shawly
2021-04-30
Sheeeeesh.
Here’s how to best interpret Warren Buffett’s disappointing recent track record
shawly
2021-04-30
Ezpz sheeeeesh
shawly
2021-04-30
Sheeeeesh
Sorry, the original content has been removed
shawly
2021-04-30
Sheeeeesh
Sorry, the original content has been removed
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","listText":"Sheeeeesh. ","text":"Sheeeeesh.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103298346","repostId":"1141661204","repostType":4,"repost":{"id":"1141661204","pubTimestamp":1619781225,"share":"https://ttm.financial/m/news/1141661204?lang=&edition=fundamental","pubTime":"2021-04-30 19:13","market":"us","language":"en","title":"Here’s how to best interpret Warren Buffett’s disappointing recent track record","url":"https://stock-news.laohu8.com/highlight/detail?id=1141661204","media":"MarketWatch","summary":"Berkshire Hathaway’s trailing 15-year edge over the S&P 500 has disappeared\nCHAPEL HILL, N.C. – Will","content":"<p>Berkshire Hathaway’s trailing 15-year edge over the S&P 500 has disappeared<img src=\"https://static.tigerbbs.com/2ed7f6d43dfa3141494477101ba5581d\" tg-width=\"620\" tg-height=\"413\" referrerpolicy=\"no-referrer\"></p>\n<p>CHAPEL HILL, N.C. – Will Warren Buffett address his disappointing recent performance at this weekend’s Berkshire Hathaway annual meeting?</p>\n<p>He isn’t saying, and I received no response from the company’s press office when I asked if he plans to address the topic.</p>\n<p>What we do know is that he has lagged the stock market, over not just a year or two but over longer periods as well. Consider the extent to which Berkshire Hathaway’s stockBRK.A,+1.68%BRK.B,+1.70%has outperformed the S&P 500SPX,+0.68%over the trailing 15 years. This outperformance — or alpha — has been steadily declining over the last four decades.</p>\n<p>In 1979, for example, the first year for which a trailing 15-year track record existed, Berkshire Hathaway’s trailing 15-year alpha stood at over 15 annualized percentage points. By the turn of the century, it was only half as large. And by the end of last year it had slipped into negative territory.</p>\n<p>Notwithstanding this decline, however, Buffett’s lifetime record is still outstanding. Since 1965, Berkshire Hathaway stock has beaten the S&P 500 on a total-return basis by an annualized margin of 18.3% to 10.2%. What this means: His performance prior to the last 15 year was so impressive that even after incorporating the more recent period, he still comes out way ahead.</p>\n<p><b>Read Howard Gold:</b>Dud stock picks, bad industry bets, vast underperformance — it’s the end of the Warren Buffett era</p>\n<p>Buffett’s sale of airline stocks</p>\n<p>Many are advancing an explanation for his recent disappointing performance that I think is unfair: That Buffett has lost his touch, as evidenced by his decision to sell his airline holdings a year ago during some of the darkest early days of the pandemic. Since last year’s Berkshire Hathaway annual meeting, when he announced the sale, the airline stocks he sold have gained more than 100%, on average, more than doubling the return of the S&P 500.</p>\n<p>But this narrative relies on a considerable amount of Monday-morning quarterbacking. Buffett’s rationale for selling, as he said in last year’s meeting, was that “there are certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced shutdown by events that are far beyond our control.”</p>\n<p>I submit that he was right.</p>\n<p>Who knew at the time whether the vaccines then in development would be successful? One of Buffett’s investment principles, which previously has served him well, is to never invest in a business you cannot understand. And, notwithstanding what some may be saying now, no one at the time knew whether an effective vaccine would be developed in time to save the airlines from bankruptcy.</p>\n<p><b>Michael Brush in May 2000:</b>Here’s why Warren Buffett made a huge mistake selling his airline stocks</p>\n<p>Blaming Buffett for his sell decision is akin to blaming someone in a casino for failing to know which of myriad slot machines would soon hit the jackpot.</p>\n<p>It’s helpful to think of this in terms of probabilities. Imagine for purposes of discussion that 60% of the time, Buffett is able to pick companies that will outperform the S&P 500 and that his average holding period is 10 years. (I have no idea whether these assumptions are accurate, but they strike me as plausible.)</p>\n<p>If so, Buffett would need to invest for many decades—well more than 100 years, in fact—before the statistical odds of beating the overall market become nearly certain.</p>\n<p>This is just another way of saying that over shorter time horizons, luck plays an outsized role in explaining returns. This is important to keep in mind, since our minds are hard-wired to discount the role luck may play—leading us to instead concoct narratives to explain what’s going on. That’s a mistake, Dartmouth professor Ken French once told me: “Statistical noise—luck in other words—is always the first possibility to consider.”</p>\n<p>Warren Buffett versus Jim Simons</p>\n<p>Another revealing comparison is to Renaissance Technologies’ James Simons, whose Medallion Fund has outperformed even Berkshire Hathaway during the period in which both have existed.Brad Cornell, a professor emeritus at UCLA, reportsthat Simons’ fund produced a 39.2% annualized return (after fees) between 1988 and 2018, in comparison to a return of “just” 15.5% for Berkshire Hathaway and 10.0% for the S&P 500’s total return.</p>\n<p>Even better, the Medallion Fund’s returns have been incredibly consistent. Cornell reports that the fund has had only one losing year in three decades: 1989, when its net-of-fees return was minus 3.2%.</p>\n<p>Cornell reports that the odds of success of any of Medallion Fund’s individual trades have been just 50.75%–considerably less than the 60% I assumed in my hypothetical Berkshire Hathaway example and only slightly higher than 50%.</p>\n<p>But when coupled with high-frequency trading, those apparently modest odds are enough to produce a highly profitable strategy. Medallion’s “strategy involved constantly opening and covering thousands of short-term positions, both long and short… Taken over millions of trades that [50.75%] percentage allowed the firm to make billions,” Cornell wrote.</p>\n<p><b>Read:</b>Turn yourself into a better investor by learning from hedge-fund star Jim Simons’s successes and failures</p>\n<p>Buffett, in contrast, is at the opposite end of the spectrum from high-frequency trading. That’s why it takes so many more years for Buffett’s odds of success to translate into consistently outperforming the market.</p>\n<p>It’s also worth pointing out that Simons early on recognized that there is a limit to how much money could be managed, according to the Medallion Fund’s strategy. The fund is not open to outside investors, for example. Buffett, in contrast, has made his strategy available to all. In fact, there are some who believe that, had Berkshire Hathaway remained as small as the Medallion Fund, Buffett’s recent performance would be far better.</p>\n<p>To be sure, Buffett’s personality is such that he is unlikely to blame just bad luck for his recent disappointing performance. Even when it’s true, many think that the explanation is in poor taste, akin to not taking responsibility. So it will be interesting to see if he is asked this weekend about his negative 15-year alpha and, if so, what he says about it.</p>\n<p>But, regardless, don’t underestimate the role that luck—randomness, in other words—has really played.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here’s how to best interpret Warren Buffett’s disappointing recent track record</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere’s how to best interpret Warren Buffett’s disappointing recent track record\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 19:13 GMT+8 <a href=https://www.marketwatch.com/story/heres-how-to-best-interpret-warren-buffetts-disappointing-recent-track-record-11619732931?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway’s trailing 15-year edge over the S&P 500 has disappeared\nCHAPEL HILL, N.C. – Will Warren Buffett address his disappointing recent performance at this weekend’s Berkshire Hathaway ...</p>\n\n<a href=\"https://www.marketwatch.com/story/heres-how-to-best-interpret-warren-buffetts-disappointing-recent-track-record-11619732931?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.marketwatch.com/story/heres-how-to-best-interpret-warren-buffetts-disappointing-recent-track-record-11619732931?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141661204","content_text":"Berkshire Hathaway’s trailing 15-year edge over the S&P 500 has disappeared\nCHAPEL HILL, N.C. – Will Warren Buffett address his disappointing recent performance at this weekend’s Berkshire Hathaway annual meeting?\nHe isn’t saying, and I received no response from the company’s press office when I asked if he plans to address the topic.\nWhat we do know is that he has lagged the stock market, over not just a year or two but over longer periods as well. Consider the extent to which Berkshire Hathaway’s stockBRK.A,+1.68%BRK.B,+1.70%has outperformed the S&P 500SPX,+0.68%over the trailing 15 years. This outperformance — or alpha — has been steadily declining over the last four decades.\nIn 1979, for example, the first year for which a trailing 15-year track record existed, Berkshire Hathaway’s trailing 15-year alpha stood at over 15 annualized percentage points. By the turn of the century, it was only half as large. And by the end of last year it had slipped into negative territory.\nNotwithstanding this decline, however, Buffett’s lifetime record is still outstanding. Since 1965, Berkshire Hathaway stock has beaten the S&P 500 on a total-return basis by an annualized margin of 18.3% to 10.2%. What this means: His performance prior to the last 15 year was so impressive that even after incorporating the more recent period, he still comes out way ahead.\nRead Howard Gold:Dud stock picks, bad industry bets, vast underperformance — it’s the end of the Warren Buffett era\nBuffett’s sale of airline stocks\nMany are advancing an explanation for his recent disappointing performance that I think is unfair: That Buffett has lost his touch, as evidenced by his decision to sell his airline holdings a year ago during some of the darkest early days of the pandemic. Since last year’s Berkshire Hathaway annual meeting, when he announced the sale, the airline stocks he sold have gained more than 100%, on average, more than doubling the return of the S&P 500.\nBut this narrative relies on a considerable amount of Monday-morning quarterbacking. Buffett’s rationale for selling, as he said in last year’s meeting, was that “there are certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced shutdown by events that are far beyond our control.”\nI submit that he was right.\nWho knew at the time whether the vaccines then in development would be successful? One of Buffett’s investment principles, which previously has served him well, is to never invest in a business you cannot understand. And, notwithstanding what some may be saying now, no one at the time knew whether an effective vaccine would be developed in time to save the airlines from bankruptcy.\nMichael Brush in May 2000:Here’s why Warren Buffett made a huge mistake selling his airline stocks\nBlaming Buffett for his sell decision is akin to blaming someone in a casino for failing to know which of myriad slot machines would soon hit the jackpot.\nIt’s helpful to think of this in terms of probabilities. Imagine for purposes of discussion that 60% of the time, Buffett is able to pick companies that will outperform the S&P 500 and that his average holding period is 10 years. (I have no idea whether these assumptions are accurate, but they strike me as plausible.)\nIf so, Buffett would need to invest for many decades—well more than 100 years, in fact—before the statistical odds of beating the overall market become nearly certain.\nThis is just another way of saying that over shorter time horizons, luck plays an outsized role in explaining returns. This is important to keep in mind, since our minds are hard-wired to discount the role luck may play—leading us to instead concoct narratives to explain what’s going on. That’s a mistake, Dartmouth professor Ken French once told me: “Statistical noise—luck in other words—is always the first possibility to consider.”\nWarren Buffett versus Jim Simons\nAnother revealing comparison is to Renaissance Technologies’ James Simons, whose Medallion Fund has outperformed even Berkshire Hathaway during the period in which both have existed.Brad Cornell, a professor emeritus at UCLA, reportsthat Simons’ fund produced a 39.2% annualized return (after fees) between 1988 and 2018, in comparison to a return of “just” 15.5% for Berkshire Hathaway and 10.0% for the S&P 500’s total return.\nEven better, the Medallion Fund’s returns have been incredibly consistent. Cornell reports that the fund has had only one losing year in three decades: 1989, when its net-of-fees return was minus 3.2%.\nCornell reports that the odds of success of any of Medallion Fund’s individual trades have been just 50.75%–considerably less than the 60% I assumed in my hypothetical Berkshire Hathaway example and only slightly higher than 50%.\nBut when coupled with high-frequency trading, those apparently modest odds are enough to produce a highly profitable strategy. Medallion’s “strategy involved constantly opening and covering thousands of short-term positions, both long and short… Taken over millions of trades that [50.75%] percentage allowed the firm to make billions,” Cornell wrote.\nRead:Turn yourself into a better investor by learning from hedge-fund star Jim Simons’s successes and failures\nBuffett, in contrast, is at the opposite end of the spectrum from high-frequency trading. That’s why it takes so many more years for Buffett’s odds of success to translate into consistently outperforming the market.\nIt’s also worth pointing out that Simons early on recognized that there is a limit to how much money could be managed, according to the Medallion Fund’s strategy. The fund is not open to outside investors, for example. Buffett, in contrast, has made his strategy available to all. In fact, there are some who believe that, had Berkshire Hathaway remained as small as the Medallion Fund, Buffett’s recent performance would be far better.\nTo be sure, Buffett’s personality is such that he is unlikely to blame just bad luck for his recent disappointing performance. Even when it’s true, many think that the explanation is in poor taste, akin to not taking responsibility. So it will be interesting to see if he is asked this weekend about his negative 15-year alpha and, if so, what he says about it.\nBut, regardless, don’t underestimate the role that luck—randomness, in other words—has really played.","news_type":1},"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103291795,"gmtCreate":1619784600817,"gmtModify":1704272312093,"author":{"id":"3582874918159872","authorId":"3582874918159872","name":"shawly","avatar":"https://static.tigerbbs.com/3c8eb3b082b239696453090b86a13e43","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582874918159872","authorIdStr":"3582874918159872"},"themes":[],"htmlText":"Ezpz sheeeeesh","listText":"Ezpz sheeeeesh","text":"Ezpz sheeeeesh","images":[{"img":"https://static.tigerbbs.com/6220360c4ef7109e03ebe06e3bef6d82","width":"1080","height":"1910"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103291795","isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":103293566,"gmtCreate":1619784486355,"gmtModify":1704272309942,"author":{"id":"3582874918159872","authorId":"3582874918159872","name":"shawly","avatar":"https://static.tigerbbs.com/3c8eb3b082b239696453090b86a13e43","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582874918159872","authorIdStr":"3582874918159872"},"themes":[],"htmlText":"Sheeeeesh","listText":"Sheeeeesh","text":"Sheeeeesh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103293566","repostId":"1118989660","repostType":4,"isVote":1,"tweetType":1,"viewCount":208,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103293810,"gmtCreate":1619784436330,"gmtModify":1704272309614,"author":{"id":"3582874918159872","authorId":"3582874918159872","name":"shawly","avatar":"https://static.tigerbbs.com/3c8eb3b082b239696453090b86a13e43","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582874918159872","authorIdStr":"3582874918159872"},"themes":[],"htmlText":"Sheeeeesh","listText":"Sheeeeesh","text":"Sheeeeesh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103293810","repostId":"1118989660","repostType":4,"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":103293566,"gmtCreate":1619784486355,"gmtModify":1704272309942,"author":{"id":"3582874918159872","authorId":"3582874918159872","name":"shawly","avatar":"https://static.tigerbbs.com/3c8eb3b082b239696453090b86a13e43","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582874918159872","authorIdStr":"3582874918159872"},"themes":[],"htmlText":"Sheeeeesh","listText":"Sheeeeesh","text":"Sheeeeesh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103293566","repostId":"1118989660","repostType":4,"isVote":1,"tweetType":1,"viewCount":208,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103298346,"gmtCreate":1619784630185,"gmtModify":1704272312258,"author":{"id":"3582874918159872","authorId":"3582874918159872","name":"shawly","avatar":"https://static.tigerbbs.com/3c8eb3b082b239696453090b86a13e43","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582874918159872","authorIdStr":"3582874918159872"},"themes":[],"htmlText":"Sheeeeesh. ","listText":"Sheeeeesh. ","text":"Sheeeeesh.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103298346","repostId":"1141661204","repostType":4,"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103293810,"gmtCreate":1619784436330,"gmtModify":1704272309614,"author":{"id":"3582874918159872","authorId":"3582874918159872","name":"shawly","avatar":"https://static.tigerbbs.com/3c8eb3b082b239696453090b86a13e43","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582874918159872","authorIdStr":"3582874918159872"},"themes":[],"htmlText":"Sheeeeesh","listText":"Sheeeeesh","text":"Sheeeeesh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103293810","repostId":"1118989660","repostType":4,"repost":{"id":"1118989660","pubTimestamp":1619780320,"share":"https://ttm.financial/m/news/1118989660?lang=&edition=fundamental","pubTime":"2021-04-30 18:58","market":"us","language":"en","title":"Eurozone Slumps Into Double-Dip Recession After Vaccine Delays","url":"https://stock-news.laohu8.com/highlight/detail?id=1118989660","media":"Bloomberg","summary":"Discover what’s driving the global economy and what it means for policy makers, businesses, investor","content":"<p><i>Discover what’s driving the global economy and what it means for policy makers, businesses, investors and you with The New Economy Daily. Sign up here</i></p>\n<p>The euro zone tipped into a double-dip recession in the first quarter, highlighting the cost of slow coronavirus vaccinations that have left the economy lagging far behind the U.S.</p>\n<p>The feebleeconomic datashow the importance of accelerating inoculations and getting the bloc’s 800 billion-euro ($968 billion) joint recovery fund under way as soon as possible.</p>\n<p>Virus Fallout</p>\n<p>Some European economies were hampered by lockdowns in first quarter</p>\n<p>Euro-area output shrank 0.6% in the three months through March, after a decline of 0.7% at the end of 2020. Germany, Italy and Spain all contracted, while French growth was clouded by the fact that the government was forced to reimpose virus restrictions this month.</p>\n<p>In contrast, the U.S. economy has expanded for three straight quarters andacceleratedat the start of this year. Vaccinations, job growth and two rounds of federal stimulus payments combined to supercharge household spending, which climbed at the second-fastest pace since the 1960s.</p>\n<p>The euro zone should soon start its own rebound -- European Central Bank Chief Economist Philip Lane said on Thursday that the bloc is at an “inflection point” -- but the economy won’t reach its pre-pandemic size until mid-2022, a full year behind the U.S.</p>\n<p>“If you add together the divergence in terms of the pandemic, vaccinations and fiscal support, the euro area is still a bit stuck while others are clearly exiting the crisis,” said Philippe Ledent, an economist at ING Groep NV. “I don’t want to be particularly negative for the euro area -- there will be a recovery -- but it’s important that the euro zone isn’t always behind.”</p>\n<p>Germany’s economy, the region’s largest, highlights the woes that are afflicting the euro zone. Not only is the country in the midst of a strict lockdown, but the so-far resilient manufacturing sector is being hit by worsening supply bottlenecks. GDP shrank 1.7%, worse than economists forecast.</p>\n<p>France, the second-biggest economy, performed better than expected but has now been forced into imposing a monthlong lockdown. That includes closing schools, nurseries, and non-essential stores, and restricting travel between regions.</p>\n<p>More Than 1.1 Billion Shots Given: Covid-19 Vaccine Tracker</p>\n<p>Signs of a nascent upturn were evident in some of Friday’s data. Euro-area unemployment fell in March, and Spanish retail sales surged. Sales also jumped in Switzerland.</p>\n<p>The region is making progress on its recovery fund, with governments submitting spending plans this week for approval by the European Commission. Still, the fund-raising needs to be ratified by all 27 member states, and disbursements won’t start until the summer.</p>\n<p>That’s raising concern in some quarters that the region is moving too slow in rebuilding. French Finance Minister Bruno Le Maire said this week that the EU has “lost too much time” compared to the U.S. and China.</p>\n<p>Other data showed price pressures -- one indicator of demand -- are mixed. April inflation came in at 1.6%, the highest rate in two years, but a measure excluding volatile items such as food and energy fell to 0.8%.</p>\n<p>The ECB has insisted that economic uncertainty, particularly over jobs, will keep underlying inflation subdued for a while. It has ramped up the pace of its bond-buying program to shield the region from higher global borrowing costs that are spilling over from the faster U.S. recovery.</p>\n<p>”We continue to be optimistic,” said Tuuli Koivu and Anders Svendsen, analysts at Nordea. “It is still possible to reach our forecast from January, foreseeing 4.5% growth in 2021 and 4% in 2022. Obviously, not much can go wrong in order to hit those numbers.”</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>Eurozone Slumps Into Double-Dip Recession After Vaccine Delays</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\">\nEurozone Slumps Into Double-Dip Recession After Vaccine Delays\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 18:58 GMT+8 <a href=https://www.bloomberg.com/news/articles/2021-04-30/euro-area-seeks-rebound-as-recession-shows-cost-of-vaccine-delay?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Discover what’s driving the global economy and what it means for policy makers, businesses, investors and you with The New Economy Daily. Sign up here\nThe euro zone tipped into a double-dip recession ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-30/euro-area-seeks-rebound-as-recession-shows-cost-of-vaccine-delay?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-04-30/euro-area-seeks-rebound-as-recession-shows-cost-of-vaccine-delay?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118989660","content_text":"Discover what’s driving the global economy and what it means for policy makers, businesses, investors and you with The New Economy Daily. Sign up here\nThe euro zone tipped into a double-dip recession in the first quarter, highlighting the cost of slow coronavirus vaccinations that have left the economy lagging far behind the U.S.\nThe feebleeconomic datashow the importance of accelerating inoculations and getting the bloc’s 800 billion-euro ($968 billion) joint recovery fund under way as soon as possible.\nVirus Fallout\nSome European economies were hampered by lockdowns in first quarter\nEuro-area output shrank 0.6% in the three months through March, after a decline of 0.7% at the end of 2020. Germany, Italy and Spain all contracted, while French growth was clouded by the fact that the government was forced to reimpose virus restrictions this month.\nIn contrast, the U.S. economy has expanded for three straight quarters andacceleratedat the start of this year. Vaccinations, job growth and two rounds of federal stimulus payments combined to supercharge household spending, which climbed at the second-fastest pace since the 1960s.\nThe euro zone should soon start its own rebound -- European Central Bank Chief Economist Philip Lane said on Thursday that the bloc is at an “inflection point” -- but the economy won’t reach its pre-pandemic size until mid-2022, a full year behind the U.S.\n“If you add together the divergence in terms of the pandemic, vaccinations and fiscal support, the euro area is still a bit stuck while others are clearly exiting the crisis,” said Philippe Ledent, an economist at ING Groep NV. “I don’t want to be particularly negative for the euro area -- there will be a recovery -- but it’s important that the euro zone isn’t always behind.”\nGermany’s economy, the region’s largest, highlights the woes that are afflicting the euro zone. Not only is the country in the midst of a strict lockdown, but the so-far resilient manufacturing sector is being hit by worsening supply bottlenecks. GDP shrank 1.7%, worse than economists forecast.\nFrance, the second-biggest economy, performed better than expected but has now been forced into imposing a monthlong lockdown. That includes closing schools, nurseries, and non-essential stores, and restricting travel between regions.\nMore Than 1.1 Billion Shots Given: Covid-19 Vaccine Tracker\nSigns of a nascent upturn were evident in some of Friday’s data. Euro-area unemployment fell in March, and Spanish retail sales surged. Sales also jumped in Switzerland.\nThe region is making progress on its recovery fund, with governments submitting spending plans this week for approval by the European Commission. Still, the fund-raising needs to be ratified by all 27 member states, and disbursements won’t start until the summer.\nThat’s raising concern in some quarters that the region is moving too slow in rebuilding. French Finance Minister Bruno Le Maire said this week that the EU has “lost too much time” compared to the U.S. and China.\nOther data showed price pressures -- one indicator of demand -- are mixed. April inflation came in at 1.6%, the highest rate in two years, but a measure excluding volatile items such as food and energy fell to 0.8%.\nThe ECB has insisted that economic uncertainty, particularly over jobs, will keep underlying inflation subdued for a while. It has ramped up the pace of its bond-buying program to shield the region from higher global borrowing costs that are spilling over from the faster U.S. recovery.\n”We continue to be optimistic,” said Tuuli Koivu and Anders Svendsen, analysts at Nordea. “It is still possible to reach our forecast from January, foreseeing 4.5% growth in 2021 and 4% in 2022. Obviously, not much can go wrong in order to hit those numbers.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103291795,"gmtCreate":1619784600817,"gmtModify":1704272312093,"author":{"id":"3582874918159872","authorId":"3582874918159872","name":"shawly","avatar":"https://static.tigerbbs.com/3c8eb3b082b239696453090b86a13e43","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582874918159872","authorIdStr":"3582874918159872"},"themes":[],"htmlText":"Ezpz sheeeeesh","listText":"Ezpz sheeeeesh","text":"Ezpz sheeeeesh","images":[{"img":"https://static.tigerbbs.com/6220360c4ef7109e03ebe06e3bef6d82","width":"1080","height":"1910"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103291795","isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}
