DLIM personal page - To The Moon

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07-24

$Alphabet(GOOGL)$ opportunity to DCA

03-14

$SATS LTD.(S58.SI)$

2023-04-17

$SATS LTD.(S58.SI)$

2022-12-01

$TENCENT(00700)$

2022-11-11

$XPENG-W(09868)$

2022-11-10

$Grab Holdings(GRAB)$

2022-11-08

$Tesla Motors(TSLA)$

2022-10-04

$Palantir Technologies Inc.(PLTR)$

2022-10-03

$WILMAR INTERNATIONAL LIMITED(F34.SI)$

2022-09-30

$WILMAR INTERNATIONAL LIMITED(F34.SI)$

2022-09-27

$WILMAR INTERNATIONAL LIMITED(F34.SI)$

2022-09-27

A good reminder on the fundamentals

Lessons From The Ongoing Bear Market

2022-09-26

$CapLand IntCom T(C38U.SI)$

2022-09-08

Thanks for these comparison analysis

Microsoft: Why I Traded It In For Apple And Google

2022-01-21

Interesting

Here Are Some Stocks That Flourish When Rates Rise

2021-09-06

Hopefully the management could explore new business opportunities thru aquisition or diversificatio

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2021-09-03

Always remember to do your portfolio management

What Will Happen When Trillions In Stimulus Run Out In 2022?

2021-08-26

In general, Huya financial and management performance are better than Douyu. This merger cancellation could be a blessing in disguise for Huya.

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2021-08-04

Not only the Margin is low; the Revenue is decreasing over past few years

Why Clean Energy Fuels Has Plenty of Work To Do

2021-08-03

There's light at the end of tunnel. Global demand for fossil fuels will continue while transition to alternative and renewable energy.

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Go to Tiger App to see more news

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data-views=\"1\"></v-v>","text":"$TENCENT(00700)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965366219","isVote":1,"tweetType":1,"viewCount":413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9960166125,"gmtCreate":1668100643167,"gmtModify":1676538013026,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/09868\">$XPENG-W(09868)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/09868\">$XPENG-W(09868)$&nbsp;</a><v-v 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Motors(TSLA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9987661703","isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9912427974,"gmtCreate":1664888157599,"gmtModify":1676537523601,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a><v-v data-views=\"1\"></v-v>","text":"$Palantir Technologies 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fundamentals","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9918004659","repostId":"1164141738","repostType":4,"repost":{"id":"1164141738","pubTimestamp":1664245209,"share":"https://ttm.financial/m/news/1164141738?lang=&edition=fundamental","pubTime":"2022-09-27 10:20","market":"sg","language":"en","title":"Lessons From The Ongoing Bear Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1164141738","media":"The Smart Investor","summary":"This year demonstrated the cruel realities of investing in stocks.Year-to-date, the widely followed ","content":"<html><head></head><body><p>This year demonstrated the cruel realities of investing in stocks.</p><p>Year-to-date, the widely followed US stock market benchmark, the S&amp;P 500, is down 14%. Meanwhile, the NASDAQ Composite, a tech-heavier benchmark for US stocks, has lost 22% of its value.</p><p>But that’s just the tip of the iceberg. Many fast-growing companies have had it worse. For instance, the ARK Innovation ETF, an exchange-traded fund that invests in high-growth tech companies, is down by more than 50%.</p><p>Multiple stocks that were big winners during the COVID-induced lockdowns have also since returned all their gains; some are even trading well below their pre-COVID prices.</p><p>In my nine years as an investor, I’ve never seen such sharp and steep drawdowns across such a wide array of companies. But this likely won’t be the last time either.</p><p>With this in mind, I’ve penned down a list of investing thoughts to prepare myself for future downturns.</p><p><b>Don’t celebrate when prices go up</b></p><p>Stock prices gyrate wildly. During the booming market of 2020, there were many investors who celebrated when prices went up. Today, many of the stocks that rose in 2020 have returned all those gains – and then some.</p><p>2022 has so far reinforced the fact that stock prices really don’t matter in the short run. If prices run up without fundamentals, they will come back down eventually. Similarly, if stock prices fall below intrinsic values, don’t panic. Prices will eventually return to their underlying values.</p><p>As a long-term investor, I have learned to ignore near-term price movements and focus on business fundamentals and valuations.</p><p><b>Cash matters!</b></p><p>When stock prices were rising, companies could raise capital easily by issuing new shares at inflated prices. This increased their cash balances with minimal dilution to existing shareholders.</p><p>But now that stock prices have fallen, this source of capital has evaporated. Debt has also become more expensive due to rising interest rates.</p><p>It is in times of crisis that companies with strong balance sheets survive, while those with weak financials struggle. Companies that are burning cash and have insufficient cash may end up in a liquidity crisis or end up having to raise more capital at depressed valuations, which could severely impact existing shareholders. If these companies are unable to raise money, their debt holders may end up taking over them, leaving equity holders with scraps.</p><p><b>Invest in strong managers!</b></p><p>With asset prices low, this is a time for companies with the financial muscle to double down on investing for their future. This is a time when prudent managers shine through.</p><p>If a company has a great capital allocator at the helm, the company can come out of this bear market stronger than before.</p><p>Berkshire, for instance, has started to become more aggressive with its investments in terms of both buybacks and acquiring stakes in other businesses. I believe Warren Buffett’s recent decisions will pay off handsomely for Berkshire shareholders in the future.</p><p><b>Diversify</b></p><p>When stock prices were going up, there was a lot of discussion about concentrating one’s portfolio into just a few stocks.</p><p>But this is a risky strategy. Every company has its own set of risks that could result in long-term underperformance of its stock. Companies that are still growing fast and burning cash bear even more risk.</p><p>When investing for the long run, we are placing a bet on a company performing well for many years. This doesn’t always pan out. In fact, most companies don’t do well over time and the strong performances of market indexes are driven by just a small handful of companies. When investing, we never deal with absolutes. We are always playing the probability game.</p><p>As a long-term investor, survival and long-term steady returns are more important to me than simply maximising earnings. While having a diversified portfolio might reduce my expected returns, it increases my odds of long-term survival and stable returns.</p></body></html>","source":"lsy1602567310727","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>Lessons From The Ongoing Bear 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\">\nLessons From The Ongoing Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-27 10:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/lessons-from-the-ongoing-bear-market/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This year demonstrated the cruel realities of investing in stocks.Year-to-date, the widely followed US stock market benchmark, the S&P 500, is down 14%. Meanwhile, the NASDAQ Composite, a tech-heavier...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/lessons-from-the-ongoing-bear-market/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://thesmartinvestor.com.sg/lessons-from-the-ongoing-bear-market/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164141738","content_text":"This year demonstrated the cruel realities of investing in stocks.Year-to-date, the widely followed US stock market benchmark, the S&P 500, is down 14%. Meanwhile, the NASDAQ Composite, a tech-heavier benchmark for US stocks, has lost 22% of its value.But that’s just the tip of the iceberg. Many fast-growing companies have had it worse. For instance, the ARK Innovation ETF, an exchange-traded fund that invests in high-growth tech companies, is down by more than 50%.Multiple stocks that were big winners during the COVID-induced lockdowns have also since returned all their gains; some are even trading well below their pre-COVID prices.In my nine years as an investor, I’ve never seen such sharp and steep drawdowns across such a wide array of companies. But this likely won’t be the last time either.With this in mind, I’ve penned down a list of investing thoughts to prepare myself for future downturns.Don’t celebrate when prices go upStock prices gyrate wildly. During the booming market of 2020, there were many investors who celebrated when prices went up. Today, many of the stocks that rose in 2020 have returned all those gains – and then some.2022 has so far reinforced the fact that stock prices really don’t matter in the short run. If prices run up without fundamentals, they will come back down eventually. Similarly, if stock prices fall below intrinsic values, don’t panic. Prices will eventually return to their underlying values.As a long-term investor, I have learned to ignore near-term price movements and focus on business fundamentals and valuations.Cash matters!When stock prices were rising, companies could raise capital easily by issuing new shares at inflated prices. This increased their cash balances with minimal dilution to existing shareholders.But now that stock prices have fallen, this source of capital has evaporated. Debt has also become more expensive due to rising interest rates.It is in times of crisis that companies with strong balance sheets survive, while those with weak financials struggle. Companies that are burning cash and have insufficient cash may end up in a liquidity crisis or end up having to raise more capital at depressed valuations, which could severely impact existing shareholders. If these companies are unable to raise money, their debt holders may end up taking over them, leaving equity holders with scraps.Invest in strong managers!With asset prices low, this is a time for companies with the financial muscle to double down on investing for their future. This is a time when prudent managers shine through.If a company has a great capital allocator at the helm, the company can come out of this bear market stronger than before.Berkshire, for instance, has started to become more aggressive with its investments in terms of both buybacks and acquiring stakes in other businesses. I believe Warren Buffett’s recent decisions will pay off handsomely for Berkshire shareholders in the future.DiversifyWhen stock prices were going up, there was a lot of discussion about concentrating one’s portfolio into just a few stocks.But this is a risky strategy. Every company has its own set of risks that could result in long-term underperformance of its stock. Companies that are still growing fast and burning cash bear even more risk.When investing for the long run, we are placing a bet on a company performing well for many years. This doesn’t always pan out. In fact, most companies don’t do well over time and the strong performances of market indexes are driven by just a small handful of companies. When investing, we never deal with absolutes. We are always playing the probability game.As a long-term investor, survival and long-term steady returns are more important to me than simply maximising earnings. While having a diversified portfolio might reduce my expected returns, it increases my odds of long-term survival and stable returns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9911636587,"gmtCreate":1664190463149,"gmtModify":1676537406458,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/C38U.SI\">$CapLand IntCom T(C38U.SI)$</a><v-v data-views=\"1\"></v-v>","text":"$CapLand IntCom T(C38U.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9911636587","isVote":1,"tweetType":1,"viewCount":123,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938586521,"gmtCreate":1662635080863,"gmtModify":1676537105867,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Thanks for these comparison&nbsp;analysis","listText":"Thanks for these comparison&nbsp;analysis","text":"Thanks for these comparison analysis","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938586521","repostId":"2265005862","repostType":4,"repost":{"id":"2265005862","pubTimestamp":1662606707,"share":"https://ttm.financial/m/news/2265005862?lang=&edition=fundamental","pubTime":"2022-09-08 11:11","market":"us","language":"en","title":"Microsoft: Why I Traded It In For Apple And Google","url":"https://stock-news.laohu8.com/highlight/detail?id=2265005862","media":"Seeking Alpha","summary":"SummaryI sold my Microsoft stock last year at around $320.Initially, I re-invested the money in bank","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>I sold my Microsoft stock last year at around $320.</li><li>Initially, I re-invested the money in bank stocks, but when the NASDAQ crashed, I started putting it into Apple and Google.</li><li>Microsoft still has better growth than Apple, but its whole story depends on one segment (the cloud).</li><li>Microsoft&#39;s non-cloud segments aren&#39;t growing very fast.</li><li>Because they have multiple growing segments instead of one, I consider Apple and Google better than Microsoft.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/29fb06be709bd703cbad09d8693a3db6\" tg-width=\"1080\" tg-height=\"791\" width=\"100%\" height=\"auto\"/><span>Dimitrios Kambouris/Getty Images Entertainment</span></p><p><b>Microsoft</b> (NASDAQ:MSFT) is a stock that I held through the 2020/2021 NASDAQ rally and managed to sell before it came crashing down. I bought it after reading about the company&#39;s success with Azure-the second fastest growing of the big tech cloud services. <b>Alphabet&#39;s</b> (GOOG) Google Cloud was growing faster than Microsoft&#39;s Azure at the time (54% vs. 42%), but Azure was profitable while Google Cloud wasn&#39;t. So I figured that MSFT was the safer cloud bet.</p><p>When I bought MSFT, I was pretty much betting on Azure. When researching the stock, I discovered that its revenue growth in non-cloud businesses was slow, and that its valuation was expensive. Today, Microsoft only trades at 26.5 times earnings, but it was above 30 around the time I sold it. It has a sky-high 11.4 price-to-book ratio to this day.</p><p>Around the end of 2021 I knew that the Federal Reserve was planning on hiking interest rates, so I sold the two most expensive stocks in my portfolio: MSFT and <b>Adobe</b> (ADBE). The timing on those sales was pretty good because I booked gains on both (33% on MSFT and 20% on ADBE), while limiting my exposure to the tech bear market. Shortly after these sales, I wrote the article &#34;The Tech Stock Crash Will Likely Get Worse,&#34; which explained my reasons for being bearish on tech stocks. After the article published, the NASDAQ-100 fell a further 28%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a19f7b4044c0b5ef16645e84b3bfd206\" tg-width=\"1280\" tg-height=\"923\" width=\"100%\" height=\"auto\"/><span>NASDAQ trading after I predicted a tech crash (Google Finance)</span></p><p>Initially, I invested the proceeds I got from selling Microsoft into classic value plays: banks and energy stocks. I figured that rising interest rates would help banks earn more money while the economic recovery from COVID-19 would boost energy stocks. I was only half right about the first part (rising interest rates helped retail banks but not investment banks), I was 100% correct about the second part. At any rate, I booked some small profits on energy stocks and didn&#39;t buy anything new for a while after that.</p><p>Later, though, I started thinking about getting into tech stocks again. After watching the NASDAQ-100 tumble, I noticed that valuations were getting cheap. In particular, I noticed that Google had gone all the way down to 20 times earnings, despite still having double digit revenue growth, while Apple was gaining market share in China. Apple was on the pricey side at that point, but not as much as Microsoft (it traded at around 24 times earnings). So, I added some GOOGL and AAPL-the former stock has fallen about as much as Microsoft, the latter has given me a gain.</p><p>None of this is to say that I&#39;m actively bearish on Microsoft. I still hold the <b>Invesco QQQ Trust</b> (QQQ), which has a high level of MSFT exposure. However, factoring in price, competitive dynamics, and growth, I find Google and Apple to be better bets. In the ensuing paragraphs, I&#39;ll explain why I think that way.</p><p><b>Competitive Landscape</b></p><p>One area where Google and Apple both have an edge over Microsoft is competitive dynamics. Google and Apple both have wide moats, Microsoft&#39;s position relative to competitors is less robust.</p><p>First, we can look at Google&#39;s moat. It&#39;s the #1 online ad platform in the world, with 26.4% of the market. In second place after Google is <b>Meta Platforms</b> (META), which has gained at Google&#39;s expense over the last decade, but is experiencing issues this year due to Apple&#39;s privacy changes and competition from TikTok. We can expect Google&#39;s moat to persist, because it benefitted from the very same Apple policy changes that hurt Meta, proving it has a resilient model competitors can&#39;t touch.</p><p>Next, we can look at Apple&#39;s moat. This stems from its brand (the most valuable in the world), which helps it retain customers, and its interconnected ecosystem, which encourages customers to buy multiple products. Apple has a huge fan community on YouTube, which helps it sell products without extra ad spend. As a result, Apple is #1 or #2 across multiple product categories, including:</p><ul><li><p>Smartphones- #2 after <b>Samsung</b> (OTCPK:SSNLF).</p></li><li><p>Smartphone operating systems- #1 by revenue, #2 byuser count.</p></li><li><p>Tablets- #1.</p></li><li><p>Smart watches- #1.</p></li><li><p>Computer operating systems - #2 after Windows.</p></li></ul><p>So we can see that Google and Apple both have high market share. Additionally, they have factors that can lead us to infer continued high market share-brand loyalty in Apple&#39;s case, a resilient ad platform in Google&#39;s case.</p><p>As for Microsoft?</p><p>It has some of the advantages that Apple and Google have, but not to the same extent. It controls Windows, the most popular computer operating system, but that product category has plateaued. It no longer has a meaningful presence in smartphones, as it failed in that market. In cloud services, it is #2 after Amazon. Finally, in gaming, it&#39;s second in hardware sales to <b>Sony&#39;s</b> (SONY) PlayStation 5, and owns the popular Minecraft IP. Microsoft has a pretty good competitive position, but it is not the #1 player in any growth sectors the way Apple and Google are.</p><p><b>Comparative Valuation</b></p><p>Having looked at Microsoft&#39;s competitive position, we can now turn to its valuation. MSFT remains a pretty expensive stock well into the 2022 bear market, and it may continue to be expensive for a while. To illustrate this fact, we can compare Microsoft&#39;s earnings multiples with those of Apple and Google.</p><p><img src=\"https://static.tigerbbs.com/67e868df6fdac980f7adad3c07e00ed8\" tg-width=\"938\" tg-height=\"328\" width=\"100%\" height=\"auto\"/></p><p>As you can see, Apple is pretty similar to Microsoft, while Google is far cheaper. Valuation favors Google, it does not favor Apple, but recall the previous section on the competitive landscape: Apple&#39;s high brand loyalty makes it a very reliable company. It is not under any threat of margin compression due to new competitors entering the market, Microsoft arguably is.</p><p>As for Microsoft&#39;s valuation in a discounted cash flow model: it&#39;s hard to forecast the cash flows of a company with as many moving pieces as MSFT. However, if we start with the last 12 months&#39; $8.69 in free cash flow per share, and assume that it grows at the 10-year CAGR rate of 7.7%, we get to $12.59 in FCF per share after five years. Using a 3.25% discount rate (the current treasury yield), and assuming that growth falls to zero after five years, we get a present value of $379. That&#39;s a significant amount of upside, but remember that DCF models are very sensitive to inputs. Change the discount rate to 8% and suddenly the fair value falls to $150, which is severe downside. If you run this same model swapping out Microsoft&#39;s free cash flow for Google&#39;s, you get a fair value of $215, which implies 2X upside. Google also ends up worth less than today&#39;s price if you raise the discount rate to 8%, but the amount of downside (about 20%) is less.</p><p><b>Microsoft&#39;s Earnings</b></p><p>As I showed above, Microsoft has a steeper valuation than other tech companies you can compare it to. However, it has some advantages that other tech companies don&#39;t have. For example, it&#39;s still growing. In its most recent quarter, MSFT managed to achieve positive top and bottom line growth, posting the following results:</p><ul><li><p>Revenue: $51.9 billion, up 12%.</p></li><li><p>Operating income: $20.5 billion, up 14%.</p></li><li><p>Net income: $16.7 billion, up 2%.</p></li><li><p>Diluted EPS: $2.23, up 3%.</p></li></ul><p>Like many companies in the same period, Microsoft achieved solid revenue growth in Q2; however, unlike those other companies, it also had positive earnings growth. For a tech company to still be growing in 2022 after the Fed&#39;s many rate hikes and Apple&#39;s privacy changes is impressive. However, note that:</p><ul><li><p>Google&#39;s Q2 top line growth was higher than Microsoft&#39;s, at 13%.</p></li><li><p>Apple is doing a major product launch today that could boost its sales.</p></li></ul><p>Certainly, Microsoft is a good company. But when you look at Google&#39;s wider moat and Apple&#39;s potential catalyst, both of these stocks look like better opportunities.</p><p><b>Risks and Challenges</b></p><p>As I&#39;ve shown in this article, Microsoft is a good stock, but perhaps not the best in the tech sector. I personally think Apple and Google are more appealing. However, there are risks and challenges facing any investor who chooses to overweight Google and Apple at the expense of Microsoft, including:</p><ul><li><p><b>Concentration risk.</b> All investors are exposed to two types of risk: market risk and specific risk. Market risk is the risk inherent in the whole market, specific risk is the risk in any one stock. The more you diversify, the less your specific risk. A broadly diversified portfolio with thousands of stocks reduces your specific risk to near zero. When you increase your specific risk by holding a lower number of stocks, your total portfolio is said to have &#39;concentration risk.&#39; If you&#39;re considering investing in just tech stocks, a full &#39;FAANG&#39; portfolio that includes MSFT, AAPL, GOOGL and the rest of the NASDAQ-100 will have less concentration risk than a pure Apple/Google portfolio. It would still be exposed to market risk, but its overall risk would be lower than holding just Apple and Google.</p></li><li><p><b>A slowdown in consumer spending.</b> Despite the current economic contraction, consumer spending is still rising modestly. In this environment, there are plenty of people buying Apple products, and patronizing companies that advertise on Google. If we enter a full fledged recession, though, that will likely change. As economic activity dips, people start to worry about being laid off-they often cut their spending as a result. Should something like that happen, an enterprise-focused company like MSFT might fare better than Google and Apple, which are heavily invested in the consumer.</p></li></ul><p>The risks above are worth keeping in mind. If they concern you, then Invesco&#39;s QQQ ETF might suit you better than a concentrated Apple/Google bet. Nevertheless, it&#39;s hard not to notice that Google and Apple enjoy competitive advantages over Microsoft. That reason alone is enough for me to weight the former two stocks higher than the latter.</p></body></html>","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>Microsoft: Why I Traded It In For Apple And Google</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\">\nMicrosoft: Why I Traded It In For Apple And Google\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 11:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4539353-microsoft-stock-why-i-traded-for-apple-and-google><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryI sold my Microsoft stock last year at around $320.Initially, I re-invested the money in bank stocks, but when the NASDAQ crashed, I started putting it into Apple and Google.Microsoft still has...</p>\n\n<a href=\"https://seekingalpha.com/article/4539353-microsoft-stock-why-i-traded-for-apple-and-google\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","GOOGL":"谷歌A","GOOG":"谷歌","MSFT":"微软"},"source_url":"https://seekingalpha.com/article/4539353-microsoft-stock-why-i-traded-for-apple-and-google","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2265005862","content_text":"SummaryI sold my Microsoft stock last year at around $320.Initially, I re-invested the money in bank stocks, but when the NASDAQ crashed, I started putting it into Apple and Google.Microsoft still has better growth than Apple, but its whole story depends on one segment (the cloud).Microsoft's non-cloud segments aren't growing very fast.Because they have multiple growing segments instead of one, I consider Apple and Google better than Microsoft.Dimitrios Kambouris/Getty Images EntertainmentMicrosoft (NASDAQ:MSFT) is a stock that I held through the 2020/2021 NASDAQ rally and managed to sell before it came crashing down. I bought it after reading about the company's success with Azure-the second fastest growing of the big tech cloud services. Alphabet's (GOOG) Google Cloud was growing faster than Microsoft's Azure at the time (54% vs. 42%), but Azure was profitable while Google Cloud wasn't. So I figured that MSFT was the safer cloud bet.When I bought MSFT, I was pretty much betting on Azure. When researching the stock, I discovered that its revenue growth in non-cloud businesses was slow, and that its valuation was expensive. Today, Microsoft only trades at 26.5 times earnings, but it was above 30 around the time I sold it. It has a sky-high 11.4 price-to-book ratio to this day.Around the end of 2021 I knew that the Federal Reserve was planning on hiking interest rates, so I sold the two most expensive stocks in my portfolio: MSFT and Adobe (ADBE). The timing on those sales was pretty good because I booked gains on both (33% on MSFT and 20% on ADBE), while limiting my exposure to the tech bear market. Shortly after these sales, I wrote the article \"The Tech Stock Crash Will Likely Get Worse,\" which explained my reasons for being bearish on tech stocks. After the article published, the NASDAQ-100 fell a further 28%.NASDAQ trading after I predicted a tech crash (Google Finance)Initially, I invested the proceeds I got from selling Microsoft into classic value plays: banks and energy stocks. I figured that rising interest rates would help banks earn more money while the economic recovery from COVID-19 would boost energy stocks. I was only half right about the first part (rising interest rates helped retail banks but not investment banks), I was 100% correct about the second part. At any rate, I booked some small profits on energy stocks and didn't buy anything new for a while after that.Later, though, I started thinking about getting into tech stocks again. After watching the NASDAQ-100 tumble, I noticed that valuations were getting cheap. In particular, I noticed that Google had gone all the way down to 20 times earnings, despite still having double digit revenue growth, while Apple was gaining market share in China. Apple was on the pricey side at that point, but not as much as Microsoft (it traded at around 24 times earnings). So, I added some GOOGL and AAPL-the former stock has fallen about as much as Microsoft, the latter has given me a gain.None of this is to say that I'm actively bearish on Microsoft. I still hold the Invesco QQQ Trust (QQQ), which has a high level of MSFT exposure. However, factoring in price, competitive dynamics, and growth, I find Google and Apple to be better bets. In the ensuing paragraphs, I'll explain why I think that way.Competitive LandscapeOne area where Google and Apple both have an edge over Microsoft is competitive dynamics. Google and Apple both have wide moats, Microsoft's position relative to competitors is less robust.First, we can look at Google's moat. It's the #1 online ad platform in the world, with 26.4% of the market. In second place after Google is Meta Platforms (META), which has gained at Google's expense over the last decade, but is experiencing issues this year due to Apple's privacy changes and competition from TikTok. We can expect Google's moat to persist, because it benefitted from the very same Apple policy changes that hurt Meta, proving it has a resilient model competitors can't touch.Next, we can look at Apple's moat. This stems from its brand (the most valuable in the world), which helps it retain customers, and its interconnected ecosystem, which encourages customers to buy multiple products. Apple has a huge fan community on YouTube, which helps it sell products without extra ad spend. As a result, Apple is #1 or #2 across multiple product categories, including:Smartphones- #2 after Samsung (OTCPK:SSNLF).Smartphone operating systems- #1 by revenue, #2 byuser count.Tablets- #1.Smart watches- #1.Computer operating systems - #2 after Windows.So we can see that Google and Apple both have high market share. Additionally, they have factors that can lead us to infer continued high market share-brand loyalty in Apple's case, a resilient ad platform in Google's case.As for Microsoft?It has some of the advantages that Apple and Google have, but not to the same extent. It controls Windows, the most popular computer operating system, but that product category has plateaued. It no longer has a meaningful presence in smartphones, as it failed in that market. In cloud services, it is #2 after Amazon. Finally, in gaming, it's second in hardware sales to Sony's (SONY) PlayStation 5, and owns the popular Minecraft IP. Microsoft has a pretty good competitive position, but it is not the #1 player in any growth sectors the way Apple and Google are.Comparative ValuationHaving looked at Microsoft's competitive position, we can now turn to its valuation. MSFT remains a pretty expensive stock well into the 2022 bear market, and it may continue to be expensive for a while. To illustrate this fact, we can compare Microsoft's earnings multiples with those of Apple and Google.As you can see, Apple is pretty similar to Microsoft, while Google is far cheaper. Valuation favors Google, it does not favor Apple, but recall the previous section on the competitive landscape: Apple's high brand loyalty makes it a very reliable company. It is not under any threat of margin compression due to new competitors entering the market, Microsoft arguably is.As for Microsoft's valuation in a discounted cash flow model: it's hard to forecast the cash flows of a company with as many moving pieces as MSFT. However, if we start with the last 12 months' $8.69 in free cash flow per share, and assume that it grows at the 10-year CAGR rate of 7.7%, we get to $12.59 in FCF per share after five years. Using a 3.25% discount rate (the current treasury yield), and assuming that growth falls to zero after five years, we get a present value of $379. That's a significant amount of upside, but remember that DCF models are very sensitive to inputs. Change the discount rate to 8% and suddenly the fair value falls to $150, which is severe downside. If you run this same model swapping out Microsoft's free cash flow for Google's, you get a fair value of $215, which implies 2X upside. Google also ends up worth less than today's price if you raise the discount rate to 8%, but the amount of downside (about 20%) is less.Microsoft's EarningsAs I showed above, Microsoft has a steeper valuation than other tech companies you can compare it to. However, it has some advantages that other tech companies don't have. For example, it's still growing. In its most recent quarter, MSFT managed to achieve positive top and bottom line growth, posting the following results:Revenue: $51.9 billion, up 12%.Operating income: $20.5 billion, up 14%.Net income: $16.7 billion, up 2%.Diluted EPS: $2.23, up 3%.Like many companies in the same period, Microsoft achieved solid revenue growth in Q2; however, unlike those other companies, it also had positive earnings growth. For a tech company to still be growing in 2022 after the Fed's many rate hikes and Apple's privacy changes is impressive. However, note that:Google's Q2 top line growth was higher than Microsoft's, at 13%.Apple is doing a major product launch today that could boost its sales.Certainly, Microsoft is a good company. But when you look at Google's wider moat and Apple's potential catalyst, both of these stocks look like better opportunities.Risks and ChallengesAs I've shown in this article, Microsoft is a good stock, but perhaps not the best in the tech sector. I personally think Apple and Google are more appealing. However, there are risks and challenges facing any investor who chooses to overweight Google and Apple at the expense of Microsoft, including:Concentration risk. All investors are exposed to two types of risk: market risk and specific risk. Market risk is the risk inherent in the whole market, specific risk is the risk in any one stock. The more you diversify, the less your specific risk. A broadly diversified portfolio with thousands of stocks reduces your specific risk to near zero. When you increase your specific risk by holding a lower number of stocks, your total portfolio is said to have 'concentration risk.' If you're considering investing in just tech stocks, a full 'FAANG' portfolio that includes MSFT, AAPL, GOOGL and the rest of the NASDAQ-100 will have less concentration risk than a pure Apple/Google portfolio. It would still be exposed to market risk, but its overall risk would be lower than holding just Apple and Google.A slowdown in consumer spending. Despite the current economic contraction, consumer spending is still rising modestly. In this environment, there are plenty of people buying Apple products, and patronizing companies that advertise on Google. If we enter a full fledged recession, though, that will likely change. As economic activity dips, people start to worry about being laid off-they often cut their spending as a result. Should something like that happen, an enterprise-focused company like MSFT might fare better than Google and Apple, which are heavily invested in the consumer.The risks above are worth keeping in mind. If they concern you, then Invesco's QQQ ETF might suit you better than a concentrated Apple/Google bet. Nevertheless, it's hard not to notice that Google and Apple enjoy competitive advantages over Microsoft. That reason alone is enough for me to weight the former two stocks higher than the latter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007301117,"gmtCreate":1642761332847,"gmtModify":1676533743741,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007301117","repostId":"1169434319","repostType":4,"repost":{"id":"1169434319","pubTimestamp":1642725929,"share":"https://ttm.financial/m/news/1169434319?lang=&edition=fundamental","pubTime":"2022-01-21 08:45","market":"us","language":"en","title":"Here Are Some Stocks That Flourish When Rates Rise","url":"https://stock-news.laohu8.com/highlight/detail?id=1169434319","media":"the street","summary":"22V Research, an investment research firm, has compiled a list of stocks that do well in times of ri","content":"<html><head></head><body><p>22V Research, an investment research firm, has compiled a list of stocks that do well in times of rising interest rates.</p><p>The list includes pharmacy chain Walgreens Boots Alliance WBA, medical device maker Medtronic MDT, and drug companies Vertex Pharmaceuticals VRTX and Viatris VTRS, Barron’s reports.</p><p>22V created the list by combing through the S&amp;P 500 to find the stocks with the highest historical correlation to changes in both the real federal funds rate and the real 10-year Treasury yield — combining a short-term and a long-term rate.</p><p>Each of the four stocks has a lower forward price-earnings ratio than the S&amp;P 500, has outperformed the index so far this year and isn’t economically sensitive, according to Barron’s.</p><p>Walgreens has the highest correlation to the real fed funds and 10-year Treasury rates. It has climbed 2% year to date, compared to a 5.9% drop for the S&amp;P 500.</p><p>Medtronic has the sixth highest correlation, and it has gained 2.6% so far this year.</p><p>Vertex has the second highest correlation to interest rates, and it has gained 4.1% so far this year.</p><p>Viatris has the fourth-highest correlation to interest rates, and it has risen 8.2% so far this year.</p><p>As for Walgreen’s, Morningstar analyst Dylan Finley raised his fair value estimate to $48 from $44, after a strong earnings report earlier this month. But that still puts Walgreen’s in overvalued territory, as it closed at $53.18 Thursday, down 0.65%.</p><p>As for the earnings, “Walgreens&#39; reported stellar results in the first fiscal quarter of 2022 [ended Nov. 30] , led by strong performance across all segments,” Finley wrote.</p></body></html>","source":"lsy1610613172068","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 Are Some Stocks That Flourish When Rates Rise</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 Are Some Stocks That Flourish When Rates Rise\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-21 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/here-are-some-stocks-that-flourish-when-rates-rise><strong>the street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>22V Research, an investment research firm, has compiled a list of stocks that do well in times of rising interest rates.The list includes pharmacy chain Walgreens Boots Alliance WBA, medical device ...</p>\n\n<a href=\"https://www.thestreet.com/investing/here-are-some-stocks-that-flourish-when-rates-rise\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WBA":"沃尔格林联合博姿","VRTX":"福泰制药","VTRS":"Viatris Inc.","MDT":"美敦力"},"source_url":"https://www.thestreet.com/investing/here-are-some-stocks-that-flourish-when-rates-rise","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169434319","content_text":"22V Research, an investment research firm, has compiled a list of stocks that do well in times of rising interest rates.The list includes pharmacy chain Walgreens Boots Alliance WBA, medical device maker Medtronic MDT, and drug companies Vertex Pharmaceuticals VRTX and Viatris VTRS, Barron’s reports.22V created the list by combing through the S&P 500 to find the stocks with the highest historical correlation to changes in both the real federal funds rate and the real 10-year Treasury yield — combining a short-term and a long-term rate.Each of the four stocks has a lower forward price-earnings ratio than the S&P 500, has outperformed the index so far this year and isn’t economically sensitive, according to Barron’s.Walgreens has the highest correlation to the real fed funds and 10-year Treasury rates. It has climbed 2% year to date, compared to a 5.9% drop for the S&P 500.Medtronic has the sixth highest correlation, and it has gained 2.6% so far this year.Vertex has the second highest correlation to interest rates, and it has gained 4.1% so far this year.Viatris has the fourth-highest correlation to interest rates, and it has risen 8.2% so far this year.As for Walgreen’s, Morningstar analyst Dylan Finley raised his fair value estimate to $48 from $44, after a strong earnings report earlier this month. But that still puts Walgreen’s in overvalued territory, as it closed at $53.18 Thursday, down 0.65%.As for the earnings, “Walgreens' reported stellar results in the first fiscal quarter of 2022 [ended Nov. 30] , led by strong performance across all segments,” Finley wrote.","news_type":1},"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817689052,"gmtCreate":1630940620176,"gmtModify":1676530425504,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Hopefully the management could explore new business opportunities thru aquisition or diversificatio","listText":"Hopefully the management could explore new business opportunities thru aquisition or diversificatio","text":"Hopefully the management could explore new business opportunities thru aquisition or diversificatio","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/817689052","repostId":"2165384258","repostType":4,"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815140059,"gmtCreate":1630659590471,"gmtModify":1676530368609,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Always remember to do your portfolio management","listText":"Always remember to do your portfolio management","text":"Always remember to do your portfolio management","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815140059","repostId":"1115112299","repostType":4,"repost":{"id":"1115112299","pubTimestamp":1630641559,"share":"https://ttm.financial/m/news/1115112299?lang=&edition=fundamental","pubTime":"2021-09-03 11:59","market":"us","language":"en","title":"What Will Happen When Trillions In Stimulus Run Out In 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=1115112299","media":"seekingalpha","summary":"Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in","content":"<p><b>Summary</b></p>\n<ul>\n <li>The US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.</li>\n <li>With expanded unemployment set to end, student loan &amp; mortgage forbearance to end, and a possible corporate tax rate hike on the horizon, it's possible 2022 earnings estimates for stocks are simply too high.</li>\n <li>In light of this, the broad stock market faces an unattractive risk-reward proposition.</li>\n <li>I break down the possibilities and game plan with expert value/dividend investor Sam Kovacs.</li>\n</ul>\n<p><b>Introduction</b></p>\n<p><i>Logan–</i>The United States government has turned to an unprecedented amount of fiscal and monetary stimulus to help the economy through the COVID-19 pandemic. Notable examples include multiple rounds of stimulus checks, the student loan pause, mortgage forbearance/eviction moratorium, PPP, and enhanced unemployment benefits. So far, this effort seems to have been successful, although critics point out that it has resulted in significant increases in inflation. However, the political and economic reality is that the US can't run $3 trillion deficits forever, at least without everyone implicitly paying for it via higher consumer prices compared to their earnings.</p>\n<p>The weight of theevidence suggeststhat prices are rising faster than wages. In turn, the government has stepped in to fill this gap with stimulus payments, but the trillion-dollar question is what happens when the economy has to run on its own productivity–rather than on temporary transfer payments. For 2021, thanks to pent-up demand and stimulus, S&amp;P 500 components are expected to smash the record for the highest amount ever earned in a year (somewhere between $200 and $205 per share for 2021, vs. the previous record of $163 in 2019). Wall Street analysts additionally expect the S&amp;P 500 to earn~$215 per share in 2022, which would be yet another record. When you pull numbers forproductivity and economic output, the picture isn't as great, which helps explain why there are so many shortages of goods and services right now. If you feel that the change in nominal economic output is more indicative of what corporations can earn over the medium term (taking away the impact of consumers spending temporary transfer payments), you get an earnings number for the S&amp;P 500 closer to $180, which is about 15 percent lower than Wall Street is currently expecting.</p>\n<p>Putting further pressure on earnings is the potential corporate tax hike from 21 percent to 25 percent, which will decrease S&amp;P 500 earnings by 5 percent, all else being equal. Political betting markets show that this has a roughly50/50 chance of becoming lawat the moment. With many investors making easy money piling into low-conviction, high momentum names, the consequences of unwinding stimulus could be a shock to their portfolio balances. Helping me make sense of the stimulus unwind is fellow<i>Seeking Alpha</i>authorSam Kovacs.Although living halfway across the world from me here in suburban Texas, Sam and I think eerily alike about the markets, gravitating to high-quality stocks with solid earnings and dividends.</p>\n<p><i>Sam–</i>Within the first couple of months of the Fed’s reaction to the pandemic, I was concerned that they would be placing themselves between a rock and a hard place. I would not have wanted to be in Powell’s shoes, but then again there aren’t many government jobs I’d consider taking. Striking a balance between pulling stimulus too early and risking runaway inflation is no easy task. The government has looked to prior crashes and decided that risking inflation was the way to go.</p>\n<p>Keep telling the people that it is “transitory” and surely it will be. But anyone who has taken Econ 101 knows that inflation feeds on itself. At first, companies are reactionary, but then they become proactive in pricing measures. Here are a few snippets.</p>\n<p>From Hormel's (HRL) latestcall:</p>\n<p><i>We have taken numerous pricing actions across the portfolio to protect profitability. The actions will take place early in the third quarter with additional pricing actions likely.</i></p>\n<p>From Conagra's (CAG) latestcall:</p>\n<p><i>And the short answer is yes. In fact, we began implementing pricing actions on some of our products in the quarter related to the initial inflation we experienced. The very early read on the data from those actions is that our elasticities look good so far. And we have more pricing coming.</i></p>\n<p>There will be no shortage of inflation in food in upcoming quarters. Oil price still has a couple of quarters of weak comparables which continue to contribute to higher headline inflation rates.</p>\n<p>Food &amp; transportation, along with housing are the major costs of US households. For1/6thof adults, you can throw in student loans as well. US consumers have been able to absorb the inflation on the back of various stimulus efforts.</p>\n<p>But the stimulus can’t last forever. Part of it is being extended as Delta is slowing (not killing) the recovery. What happens when the different forms of stimulus fade? That’s what we’re going to look at in the rest of the article.</p>\n<p>The Eviction/Foreclosure Moratorium</p>\n<p><i>Logan–</i>Foreclosures have started again, and the Supreme Court recentlystruck downthe eviction moratorium imposed by the CDC. By my last count, there are about1.5 million householdswho are in forbearance programs at the moment (i.e. not paying their mortgages), against somewhere in the ballpark of 50 million mortgages in the US. Foreclosure is a process, not an event, and the most common outcome is that people get behind on their payments, try to work with the bank for 6-12 months, and then eventually sell, collect their equity, and move somewhere cheaper. The problem in 2008 was that borrowers had negative equity on their mortgages, so it short-circuited this process. This isn't the case now–I don't see a systematic risk to the economy from foreclosures. Around 6-7 million houses in the US are bought and sold in a typical year, meaning in a vacuum, most people who are behind could sell over a 6-12 month period, and it would be a win-win for those struggling with the shortage of houses to buy and those who can't make payments on the ones they own. The Fed taper might complicate this. If mortgage rates go back up to the ~4 percent they've averaged over the last 10 years at the same time people are unloading houses they've been in forbearance on, prices are going to come down more.</p>\n<p>Evictions are messier–there are millions of people not paying rent and living off the extra money. When they have to start paying rent again somewhere else, their household budgets are going to dramatically shrink. Roughly 2-3 percent of American households are significantly behind on rent, so I would expect a lot of both formal and informal (cash for keys) evictions. This has to negatively affect consumer spending, and earnings estimates that ignore the unwind of stimulus are not properly accounting for it.</p>\n<p><i>Sam–</i>The risk here is not so much on the real estate market, as Logan correctly summarized, but rather the knock-on effects on consumption.</p>\n<p>The end of the federal eviction moratorium is a boon for apartment REITs which can resume collecting rent. However, that doesn’t mean investors should pile into residential REITs. have gone from deeply undervalued back to historically overvalued, as the below MAD Chart for Essex Property (ESS) shows. We previously suggested investors sell ESS.</p>\n<p><img src=\"https://static.tigerbbs.com/dc5c631a8b25f6a52735e699fbc69b29\" tg-width=\"640\" tg-height=\"293\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source:Dividend Freedom Tribe</i></p>\n<p>Looking at the other residential REITs on the block, the same picture emerges. AvalonBay Communities (AVB) also is historically overvalued.</p>\n<p><img src=\"https://static.tigerbbs.com/e17980a72bfba653b02553382a920419\" tg-width=\"640\" tg-height=\"315\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>None seem more overvalued relative to their historical normal range of prices than Camden Property Trust (CPT) which could easily come down by 1/3rdon a change in sentiment.</p>\n<p><img src=\"https://static.tigerbbs.com/136a7707c3add17401e4dd4047278e14\" tg-width=\"640\" tg-height=\"303\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>I believe that this trade has passed. We bought ESS about a year ago, and have been selling it throughout the past few months.</p>\n<p>Taking profits now in these industries makes sense: “buy the rumor/sell the news”.</p>\n<p>If we’re looking ahead, we’re seeing one lever which will pressure consumption for a certain part of the population.</p>\n<p><b>Student Loan Forbearance</b></p>\n<p><i>Logan–</i>The Biden Administration extended the student loan pause until January 31, 2022. 1 in 6 adults in the US has student loans, with an average balance of ~$40,000. Most borrowers are under 30, a group that spends a higher percentage of their income than, say a 50-year old saving for retirement. Hit 1 in 6 American adults with an average$400 per month payment, paid with mostly post-tax dollars, and that's like stimulus in reverse. Anecdotally, almost no one I know who has student loans is currently paying them. The extra money they're getting from not paying loans is generally either being spent on consumption, invested in cryptocurrency, or in meme stocks like GameStop (GME). This is a decent threat to consumer spending, and there isn't an easy way out. The left wing of the Democratic Party in the US wants to cancel most or all student loans, but the main problem with this is that much of the debt is held by middle and upper-middle-class professionals, which would create a moral hazard as well as redistribute wealth from people lower on the socioeconomic ladder (for example, people who work in trades and pay their income taxes) to those of higher social class (for example, indebted white-collar college graduates). We're talking$1.7+ trillion in US student loansthat are generally not being serviced by those who owe it for this 21 month period. When those kick in again, consumer spending is not going to be higher than it is now. 2022 earnings estimates are mostly blind to this fact.</p>\n<p><i>Sam–</i>When Logan and I initially discussed this article, this seemed to be the easiest form of stimulus for the government to keep giving. Since most of the loans are federal, a pause on the payments doesn’t explicitly hurt anyone enough to complain. And since the handouts are not direct, critics aren’t as vocal as they are with stimulus checks. The money which has been put into various investments, be it stock or crypto, will come out when they have to start servicing debt again. Whether this has enough of an impact to move markets is questionable, but the retail meme stocks could finally have their day of reckoning as a large portion of the population has to resume payments. The aftermath of removing the pause on debt servicing will be harsh for an important part of the population. At least you’ll still be able to watch a movie at AMC Theater (AMC).</p>\n<p><b>Enhanced Unemployment &amp; Stimulus Checks</b></p>\n<p>Logan- Enhanced unemployment runs out on September 6, and there are 11 million people who won't be getting it after that week. This is $3.3 billion per week that the Federal government is dripping out to unemployed persons, which in turn is a lot less than it was 12 months ago. When it's gone, it's yet another piece of the puzzle that will rein in consumer spending. Stimulus checks were another source of income for many Americans over the last 18 months. A family of 4 making the median income would have seen a stimulus check in March of $5,600, in addition to the prior payments under the Trump Administration. These aren't going to be going out anymore, and for middle-income Americans, this means that they won't be able to spend as much money as they have before. The expanded child tax credit may make up for this and is probably a more efficient means of getting money out, but it expires also in its current form in December.</p>\n<p><i>Sam–</i>Enhanced Unemployment is running out in a few days, we’re likely to see many of the 8 million Americans who are looking for a job finally find one amongthe 10 million job openings. As of the time of writing, job data is to be posted in the next few hours. Strong job numbers could kick off a Fed taper sooner than expected.</p>\n<p><b>Conclusion: What Is Yet to Come?</b></p>\n<p><i>Logan–</i>High profile earnings misses from the likes of Amazon (AMZN), Zoom Video (ZM), and Peloton (PTON) suggest that at least on a micro level, analysts assumed that good times would last forever for companies that benefitted from temporary changes resulting from the pandemic. Whether this is true on a macro level is a strong possibility, and depending on how the rest of earnings results come in for the rest of the year, it may end up becoming a reality. While it isn't set in stone that the market should necessarily go down significantly in price because of this, it's hard to deny that the risk-reward tradeoff for the market has deteriorated over the past 6-12 months. Now is a good time to dial back risk, if at all possible. A good defense, in both of our views, is to invest in high-quality companies rather than popular high-momentum stocks with middling fundamentals, and to take a long-term perspective.</p>\n<p><i>Sam–</i>The inflation train has left the station. Powell believes it is transitory, I believe that it might be partially transitory, but the abundance of fiscal stimulus has kicked up a cycle of inflation which will be above 2% for quite some time. The Covid delta variant has softened some economic indicators like eating out in restaurants or travel, but as the country’s case count is already peaking, the economy is set to continue heating up.</p>\n<p>This will lead to a taper. Higher rates, or even the expectation of higher rates, will lead to a change in discount rates, which is a fancy way to say future profits are worthless.</p>\n<p>Investors want to take a hard look at their portfolios and ask whether they have positions which are overvalued beyond reason?</p>\n<p>No need to look at obscure parts of the market, this is playing out in the S&amp;P 500 (SPY).</p>\n<p>For instance, I cannot fathom how a stock like Intuit (INTU) currently trades at 16x sales? Even on its lofty usual measure of 8-9x sales, this is unusually high. Compare it to the stock's historical dividend, and the reading is off the wall.</p>\n<p>Investors want to focus on companies with strong earnings power, large-scale operations, which are trading at relatively cheap valuations.</p>\n<p>Among those that come to mind in the top 100 stocks are Amgen (AMGN) which currently yields over 3%.</p>\n<p><img src=\"https://static.tigerbbs.com/cd53f68bc9f02f82e05458098625b0a7\" tg-width=\"640\" tg-height=\"297\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>Philip Morris International (PM), Broadcom (AVGO), and Morgan Stanley (MS.PK) are also undervalued relative to their historical valuations.</p>\n<p>In such an environment, focus on quality is a must. Focus on value is a close second. We’re looking to buy the highest quality assets with growth prospects at a decent price. We’re very cautious that stimulus unwinding will hit consumption which will hit earning results. Big misses from overvalued names spells trouble. The responsible thing to do is to scale out of stocks when they become overvalued.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Will Happen When Trillions In Stimulus Run Out In 2022?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Will Happen When Trillions In Stimulus Run Out In 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 11:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.\nWith expanded unemployment set to end, student loan & mortgage forbearance to end, and a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022\">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",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115112299","content_text":"Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.\nWith expanded unemployment set to end, student loan & mortgage forbearance to end, and a possible corporate tax rate hike on the horizon, it's possible 2022 earnings estimates for stocks are simply too high.\nIn light of this, the broad stock market faces an unattractive risk-reward proposition.\nI break down the possibilities and game plan with expert value/dividend investor Sam Kovacs.\n\nIntroduction\nLogan–The United States government has turned to an unprecedented amount of fiscal and monetary stimulus to help the economy through the COVID-19 pandemic. Notable examples include multiple rounds of stimulus checks, the student loan pause, mortgage forbearance/eviction moratorium, PPP, and enhanced unemployment benefits. So far, this effort seems to have been successful, although critics point out that it has resulted in significant increases in inflation. However, the political and economic reality is that the US can't run $3 trillion deficits forever, at least without everyone implicitly paying for it via higher consumer prices compared to their earnings.\nThe weight of theevidence suggeststhat prices are rising faster than wages. In turn, the government has stepped in to fill this gap with stimulus payments, but the trillion-dollar question is what happens when the economy has to run on its own productivity–rather than on temporary transfer payments. For 2021, thanks to pent-up demand and stimulus, S&P 500 components are expected to smash the record for the highest amount ever earned in a year (somewhere between $200 and $205 per share for 2021, vs. the previous record of $163 in 2019). Wall Street analysts additionally expect the S&P 500 to earn~$215 per share in 2022, which would be yet another record. When you pull numbers forproductivity and economic output, the picture isn't as great, which helps explain why there are so many shortages of goods and services right now. If you feel that the change in nominal economic output is more indicative of what corporations can earn over the medium term (taking away the impact of consumers spending temporary transfer payments), you get an earnings number for the S&P 500 closer to $180, which is about 15 percent lower than Wall Street is currently expecting.\nPutting further pressure on earnings is the potential corporate tax hike from 21 percent to 25 percent, which will decrease S&P 500 earnings by 5 percent, all else being equal. Political betting markets show that this has a roughly50/50 chance of becoming lawat the moment. With many investors making easy money piling into low-conviction, high momentum names, the consequences of unwinding stimulus could be a shock to their portfolio balances. Helping me make sense of the stimulus unwind is fellowSeeking AlphaauthorSam Kovacs.Although living halfway across the world from me here in suburban Texas, Sam and I think eerily alike about the markets, gravitating to high-quality stocks with solid earnings and dividends.\nSam–Within the first couple of months of the Fed’s reaction to the pandemic, I was concerned that they would be placing themselves between a rock and a hard place. I would not have wanted to be in Powell’s shoes, but then again there aren’t many government jobs I’d consider taking. Striking a balance between pulling stimulus too early and risking runaway inflation is no easy task. The government has looked to prior crashes and decided that risking inflation was the way to go.\nKeep telling the people that it is “transitory” and surely it will be. But anyone who has taken Econ 101 knows that inflation feeds on itself. At first, companies are reactionary, but then they become proactive in pricing measures. Here are a few snippets.\nFrom Hormel's (HRL) latestcall:\nWe have taken numerous pricing actions across the portfolio to protect profitability. The actions will take place early in the third quarter with additional pricing actions likely.\nFrom Conagra's (CAG) latestcall:\nAnd the short answer is yes. In fact, we began implementing pricing actions on some of our products in the quarter related to the initial inflation we experienced. The very early read on the data from those actions is that our elasticities look good so far. And we have more pricing coming.\nThere will be no shortage of inflation in food in upcoming quarters. Oil price still has a couple of quarters of weak comparables which continue to contribute to higher headline inflation rates.\nFood & transportation, along with housing are the major costs of US households. For1/6thof adults, you can throw in student loans as well. US consumers have been able to absorb the inflation on the back of various stimulus efforts.\nBut the stimulus can’t last forever. Part of it is being extended as Delta is slowing (not killing) the recovery. What happens when the different forms of stimulus fade? That’s what we’re going to look at in the rest of the article.\nThe Eviction/Foreclosure Moratorium\nLogan–Foreclosures have started again, and the Supreme Court recentlystruck downthe eviction moratorium imposed by the CDC. By my last count, there are about1.5 million householdswho are in forbearance programs at the moment (i.e. not paying their mortgages), against somewhere in the ballpark of 50 million mortgages in the US. Foreclosure is a process, not an event, and the most common outcome is that people get behind on their payments, try to work with the bank for 6-12 months, and then eventually sell, collect their equity, and move somewhere cheaper. The problem in 2008 was that borrowers had negative equity on their mortgages, so it short-circuited this process. This isn't the case now–I don't see a systematic risk to the economy from foreclosures. Around 6-7 million houses in the US are bought and sold in a typical year, meaning in a vacuum, most people who are behind could sell over a 6-12 month period, and it would be a win-win for those struggling with the shortage of houses to buy and those who can't make payments on the ones they own. The Fed taper might complicate this. If mortgage rates go back up to the ~4 percent they've averaged over the last 10 years at the same time people are unloading houses they've been in forbearance on, prices are going to come down more.\nEvictions are messier–there are millions of people not paying rent and living off the extra money. When they have to start paying rent again somewhere else, their household budgets are going to dramatically shrink. Roughly 2-3 percent of American households are significantly behind on rent, so I would expect a lot of both formal and informal (cash for keys) evictions. This has to negatively affect consumer spending, and earnings estimates that ignore the unwind of stimulus are not properly accounting for it.\nSam–The risk here is not so much on the real estate market, as Logan correctly summarized, but rather the knock-on effects on consumption.\nThe end of the federal eviction moratorium is a boon for apartment REITs which can resume collecting rent. However, that doesn’t mean investors should pile into residential REITs. have gone from deeply undervalued back to historically overvalued, as the below MAD Chart for Essex Property (ESS) shows. We previously suggested investors sell ESS.\n\nSource:Dividend Freedom Tribe\nLooking at the other residential REITs on the block, the same picture emerges. AvalonBay Communities (AVB) also is historically overvalued.\n\nSource: Dividend Freedom Tribe\nNone seem more overvalued relative to their historical normal range of prices than Camden Property Trust (CPT) which could easily come down by 1/3rdon a change in sentiment.\n\nSource: Dividend Freedom Tribe\nI believe that this trade has passed. We bought ESS about a year ago, and have been selling it throughout the past few months.\nTaking profits now in these industries makes sense: “buy the rumor/sell the news”.\nIf we’re looking ahead, we’re seeing one lever which will pressure consumption for a certain part of the population.\nStudent Loan Forbearance\nLogan–The Biden Administration extended the student loan pause until January 31, 2022. 1 in 6 adults in the US has student loans, with an average balance of ~$40,000. Most borrowers are under 30, a group that spends a higher percentage of their income than, say a 50-year old saving for retirement. Hit 1 in 6 American adults with an average$400 per month payment, paid with mostly post-tax dollars, and that's like stimulus in reverse. Anecdotally, almost no one I know who has student loans is currently paying them. The extra money they're getting from not paying loans is generally either being spent on consumption, invested in cryptocurrency, or in meme stocks like GameStop (GME). This is a decent threat to consumer spending, and there isn't an easy way out. The left wing of the Democratic Party in the US wants to cancel most or all student loans, but the main problem with this is that much of the debt is held by middle and upper-middle-class professionals, which would create a moral hazard as well as redistribute wealth from people lower on the socioeconomic ladder (for example, people who work in trades and pay their income taxes) to those of higher social class (for example, indebted white-collar college graduates). We're talking$1.7+ trillion in US student loansthat are generally not being serviced by those who owe it for this 21 month period. When those kick in again, consumer spending is not going to be higher than it is now. 2022 earnings estimates are mostly blind to this fact.\nSam–When Logan and I initially discussed this article, this seemed to be the easiest form of stimulus for the government to keep giving. Since most of the loans are federal, a pause on the payments doesn’t explicitly hurt anyone enough to complain. And since the handouts are not direct, critics aren’t as vocal as they are with stimulus checks. The money which has been put into various investments, be it stock or crypto, will come out when they have to start servicing debt again. Whether this has enough of an impact to move markets is questionable, but the retail meme stocks could finally have their day of reckoning as a large portion of the population has to resume payments. The aftermath of removing the pause on debt servicing will be harsh for an important part of the population. At least you’ll still be able to watch a movie at AMC Theater (AMC).\nEnhanced Unemployment & Stimulus Checks\nLogan- Enhanced unemployment runs out on September 6, and there are 11 million people who won't be getting it after that week. This is $3.3 billion per week that the Federal government is dripping out to unemployed persons, which in turn is a lot less than it was 12 months ago. When it's gone, it's yet another piece of the puzzle that will rein in consumer spending. Stimulus checks were another source of income for many Americans over the last 18 months. A family of 4 making the median income would have seen a stimulus check in March of $5,600, in addition to the prior payments under the Trump Administration. These aren't going to be going out anymore, and for middle-income Americans, this means that they won't be able to spend as much money as they have before. The expanded child tax credit may make up for this and is probably a more efficient means of getting money out, but it expires also in its current form in December.\nSam–Enhanced Unemployment is running out in a few days, we’re likely to see many of the 8 million Americans who are looking for a job finally find one amongthe 10 million job openings. As of the time of writing, job data is to be posted in the next few hours. Strong job numbers could kick off a Fed taper sooner than expected.\nConclusion: What Is Yet to Come?\nLogan–High profile earnings misses from the likes of Amazon (AMZN), Zoom Video (ZM), and Peloton (PTON) suggest that at least on a micro level, analysts assumed that good times would last forever for companies that benefitted from temporary changes resulting from the pandemic. Whether this is true on a macro level is a strong possibility, and depending on how the rest of earnings results come in for the rest of the year, it may end up becoming a reality. While it isn't set in stone that the market should necessarily go down significantly in price because of this, it's hard to deny that the risk-reward tradeoff for the market has deteriorated over the past 6-12 months. Now is a good time to dial back risk, if at all possible. A good defense, in both of our views, is to invest in high-quality companies rather than popular high-momentum stocks with middling fundamentals, and to take a long-term perspective.\nSam–The inflation train has left the station. Powell believes it is transitory, I believe that it might be partially transitory, but the abundance of fiscal stimulus has kicked up a cycle of inflation which will be above 2% for quite some time. The Covid delta variant has softened some economic indicators like eating out in restaurants or travel, but as the country’s case count is already peaking, the economy is set to continue heating up.\nThis will lead to a taper. Higher rates, or even the expectation of higher rates, will lead to a change in discount rates, which is a fancy way to say future profits are worthless.\nInvestors want to take a hard look at their portfolios and ask whether they have positions which are overvalued beyond reason?\nNo need to look at obscure parts of the market, this is playing out in the S&P 500 (SPY).\nFor instance, I cannot fathom how a stock like Intuit (INTU) currently trades at 16x sales? Even on its lofty usual measure of 8-9x sales, this is unusually high. Compare it to the stock's historical dividend, and the reading is off the wall.\nInvestors want to focus on companies with strong earnings power, large-scale operations, which are trading at relatively cheap valuations.\nAmong those that come to mind in the top 100 stocks are Amgen (AMGN) which currently yields over 3%.\n\nSource: Dividend Freedom Tribe\nPhilip Morris International (PM), Broadcom (AVGO), and Morgan Stanley (MS.PK) are also undervalued relative to their historical valuations.\nIn such an environment, focus on quality is a must. Focus on value is a close second. We’re looking to buy the highest quality assets with growth prospects at a decent price. We’re very cautious that stimulus unwinding will hit consumption which will hit earning results. Big misses from overvalued names spells trouble. The responsible thing to do is to scale out of stocks when they become overvalued.","news_type":1},"isVote":1,"tweetType":1,"viewCount":398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810856359,"gmtCreate":1629965727471,"gmtModify":1676530186246,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"In general, Huya financial and management&nbsp;performance are better than Douyu. This merger&nbsp;cancellation could be a blessing in disguise for Huya.","listText":"In general, Huya financial and management&nbsp;performance are better than Douyu. This merger&nbsp;cancellation could be a blessing in disguise for Huya.","text":"In general, Huya financial and management performance are better than Douyu. This merger cancellation could be a blessing in disguise for Huya.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810856359","repostId":"2162061803","repostType":4,"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890066119,"gmtCreate":1628068052331,"gmtModify":1703500600066,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Not only the Margin is low; the Revenue is decreasing over past few years","listText":"Not only the Margin is low; the Revenue is decreasing over past few years","text":"Not only the Margin is low; the Revenue is decreasing over past few years","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/890066119","repostId":"1177585640","repostType":4,"repost":{"id":"1177585640","pubTimestamp":1628056440,"share":"https://ttm.financial/m/news/1177585640?lang=&edition=fundamental","pubTime":"2021-08-04 13:54","market":"us","language":"en","title":"Why Clean Energy Fuels Has Plenty of Work To Do","url":"https://stock-news.laohu8.com/highlight/detail?id=1177585640","media":"InvestorPlace","summary":"Clean Energy Fuels history of low to zero margins will keep the stock down unless they turn things a","content":"<p>Clean Energy Fuels history of low to zero margins will keep the stock down unless they turn things around</p>\n<p>Yes, it’s possible to invest in cow poo — or at least the product that is derived from it. Renewable natural gas (RNG) is a transportation fuel made from organic waste, primarily from cattle. Once it’s purified, this biomethane is chemically identical to the main ingredient in the fossil-based natural gas that comes out of a stove or heats residential water. The use of RNGs drastically reduces carbon emissions, and unlike conventional natural gas, RNG is not a fossil fuel and does not involve drilling. That said, the leader in this sector is&nbsp;<b>Clean Energy Fuels</b>(NASDAQ:<b><u>CLNE</u></b>) — but CLNE stock may lose its one-year gains of the firm doesn’t figure things out.</p>\n<p>Overall, Clean Energy Fuels provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily in the United States and Canada. It supplies RNG, compressed natural gas (CNG) and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles. Additionally, the company offers operation and maintenance services for public and private vehicle fleet customer stations.</p>\n<p>Moreover, the company also designs, builds, operates and maintains fueling stations. It also sells and services compressors and other equipment that are used in fueling stations, and provides assessment, design and modification solutions to offer operators with code-compliant service and maintenance facilities for natural gas vehicle fleets.</p>\n<p>Collectively, Clean Energy Fuels serves heavy-duty trucking, airports, refuse, public transit, industrial, and institutional energy users, as well as government fleets. As of December 31, 2020, it served approximately&nbsp;1,000 fleet customers&nbsp;operating approximately 48,000 vehicles. And it also owned, operated, or supplied approximately 565 fueling stations in 39 states in the United States and five provinces in Canada.</p>\n<p>The Opportunity and Benefit of Clean Energy</p>\n<p>According to the company, livestock manure and landfills account for 27% of methane emissions in the U.S. That said, this is the original source of where Clean Energy Fuels gets its RNG.</p>\n<p>When organic matter decays, it naturally produces methane — one of the greenhouse gases most detrimental to the environment. So, by capturing the methane, the company prevents it from entering and damaging the atmosphere. Then, they can then turn it into clean fuel for the transportation industry. That said, the transportation industry — as a whole — was responsible for&nbsp;29% of the total greenhouse gas emissions in the U.S.&nbsp;in 2019.</p>\n<p>This all sounds great, so there must be a catch. Well, the catch is that Clean Energy Fuels has been around a very long time, but still cant generate consistent high margin profits. That said, here is a very-detailed explanation of why the company is struggling in that department:</p>\n<blockquote>\n “…The only logical explanation is that Clean Energy&nbsp;owns a very small percentage&nbsp;of the 540 fueling stations spread across the USA. It operates, maintains and supplies the fueling station with natural gases at commodity prices plus charges for transportation, compression, storage and maintenance. While Clean Energy has adopted an excellent business model, unfortunately, it operates in an area of the value chain with minimal operating margins.”\n</blockquote>\n<blockquote>\n “Over the past five years, Clean Energy Fuels has consistently failed to produce positive operating margins. While SG&amp;A (selling, general and administrative) expenses have fallen by roughly $5 million each of the previous three years, it hasn’t resulted in sustained positive margins. To help hide the negative operating and profit margins, management tends to focus on adjusted EBITDA. This is simply an alternate accounting method, which hides real world expenses and shouldn’t be considered a route to profitability.”\n</blockquote>\n<p>Furthermore, analyst earnings per share (EPS) estimates for 2021 and 2022 are only 3 cents and 4 cents, respectively, despite revenue estimates of about $323 and $364 million for the same period. So, although transportation issues were and are abundant during the novel coronavirus pandemic, the profitability issues don’t seem to be subsiding for Clean Energy Fuels.</p>\n<p><b>Bottom Line on CLNE Stock</b></p>\n<p>As a whole, Clean Energy stock was a Reddit meme driven favorite earlier in the year. In fact, shares are up more than 200% over the past year after hitting a high of $19.79 per share in February.</p>\n<p>However, CLNE stock has really taken a tumble in the months since — losing nearly 60% of its value. And unless the company offers a clear path to much higher margins, the stock will likely return to its long-term trading range of $2 to $3.</p>","source":"lsy1606302653667","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>Why Clean Energy Fuels Has Plenty of Work To Do</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\">\nWhy Clean Energy Fuels Has Plenty of Work To Do\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-04 13:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/08/clean-energy-fuels-clne-stock-continues-to-hunt-for-higher-margins/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Clean Energy Fuels history of low to zero margins will keep the stock down unless they turn things around\nYes, it’s possible to invest in cow poo — or at least the product that is derived from it. ...</p>\n\n<a href=\"https://investorplace.com/2021/08/clean-energy-fuels-clne-stock-continues-to-hunt-for-higher-margins/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CLNE":"Clean Energy Fuels Corp"},"source_url":"https://investorplace.com/2021/08/clean-energy-fuels-clne-stock-continues-to-hunt-for-higher-margins/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177585640","content_text":"Clean Energy Fuels history of low to zero margins will keep the stock down unless they turn things around\nYes, it’s possible to invest in cow poo — or at least the product that is derived from it. Renewable natural gas (RNG) is a transportation fuel made from organic waste, primarily from cattle. Once it’s purified, this biomethane is chemically identical to the main ingredient in the fossil-based natural gas that comes out of a stove or heats residential water. The use of RNGs drastically reduces carbon emissions, and unlike conventional natural gas, RNG is not a fossil fuel and does not involve drilling. That said, the leader in this sector is Clean Energy Fuels(NASDAQ:CLNE) — but CLNE stock may lose its one-year gains of the firm doesn’t figure things out.\nOverall, Clean Energy Fuels provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily in the United States and Canada. It supplies RNG, compressed natural gas (CNG) and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles. Additionally, the company offers operation and maintenance services for public and private vehicle fleet customer stations.\nMoreover, the company also designs, builds, operates and maintains fueling stations. It also sells and services compressors and other equipment that are used in fueling stations, and provides assessment, design and modification solutions to offer operators with code-compliant service and maintenance facilities for natural gas vehicle fleets.\nCollectively, Clean Energy Fuels serves heavy-duty trucking, airports, refuse, public transit, industrial, and institutional energy users, as well as government fleets. As of December 31, 2020, it served approximately 1,000 fleet customers operating approximately 48,000 vehicles. And it also owned, operated, or supplied approximately 565 fueling stations in 39 states in the United States and five provinces in Canada.\nThe Opportunity and Benefit of Clean Energy\nAccording to the company, livestock manure and landfills account for 27% of methane emissions in the U.S. That said, this is the original source of where Clean Energy Fuels gets its RNG.\nWhen organic matter decays, it naturally produces methane — one of the greenhouse gases most detrimental to the environment. So, by capturing the methane, the company prevents it from entering and damaging the atmosphere. Then, they can then turn it into clean fuel for the transportation industry. That said, the transportation industry — as a whole — was responsible for 29% of the total greenhouse gas emissions in the U.S. in 2019.\nThis all sounds great, so there must be a catch. Well, the catch is that Clean Energy Fuels has been around a very long time, but still cant generate consistent high margin profits. That said, here is a very-detailed explanation of why the company is struggling in that department:\n\n “…The only logical explanation is that Clean Energy owns a very small percentage of the 540 fueling stations spread across the USA. It operates, maintains and supplies the fueling station with natural gases at commodity prices plus charges for transportation, compression, storage and maintenance. While Clean Energy has adopted an excellent business model, unfortunately, it operates in an area of the value chain with minimal operating margins.”\n\n\n “Over the past five years, Clean Energy Fuels has consistently failed to produce positive operating margins. While SG&A (selling, general and administrative) expenses have fallen by roughly $5 million each of the previous three years, it hasn’t resulted in sustained positive margins. To help hide the negative operating and profit margins, management tends to focus on adjusted EBITDA. This is simply an alternate accounting method, which hides real world expenses and shouldn’t be considered a route to profitability.”\n\nFurthermore, analyst earnings per share (EPS) estimates for 2021 and 2022 are only 3 cents and 4 cents, respectively, despite revenue estimates of about $323 and $364 million for the same period. So, although transportation issues were and are abundant during the novel coronavirus pandemic, the profitability issues don’t seem to be subsiding for Clean Energy Fuels.\nBottom Line on CLNE Stock\nAs a whole, Clean Energy stock was a Reddit meme driven favorite earlier in the year. In fact, shares are up more than 200% over the past year after hitting a high of $19.79 per share in February.\nHowever, CLNE stock has really taken a tumble in the months since — losing nearly 60% of its value. And unless the company offers a clear path to much higher margins, the stock will likely return to its long-term trading range of $2 to $3.","news_type":1},"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804751608,"gmtCreate":1627982652304,"gmtModify":1703499063892,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"There's light at the end of tunnel. Global demand for fossil fuels will continue while transition to alternative&nbsp; and renewable energy.","listText":"There's light at the end of tunnel. Global demand for fossil fuels will continue while transition to alternative&nbsp; and renewable energy.","text":"There's light at the end of tunnel. Global demand for fossil fuels will continue while transition to alternative and renewable energy.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804751608","repostId":"2156149842","repostType":4,"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":173965850,"gmtCreate":1626602209570,"gmtModify":1703762239003,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Alternative proteins is the way forward to a more sustainable eco enviroment and healthy living","listText":"Alternative proteins is the way forward to a more sustainable eco enviroment and healthy living","text":"Alternative proteins is the way forward to a more sustainable eco enviroment and healthy living","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/173965850","repostId":"1156209584","repostType":4,"repost":{"id":"1156209584","pubTimestamp":1626569753,"share":"https://ttm.financial/m/news/1156209584?lang=&edition=fundamental","pubTime":"2021-07-18 08:55","market":"us","language":"en","title":"Faux fish looks to ride the growing wave of alternative meats","url":"https://stock-news.laohu8.com/highlight/detail?id=1156209584","media":"CNBC","summary":"Faux fish is angling to be the next big thing in alternative protein.\nAlt-meat has skyrocketed in po","content":"<div>\n<p>Faux fish is angling to be the next big thing in alternative protein.\nAlt-meat has skyrocketed in popularity in recent years as consumers have started to change what they eat for a variety of reasons,...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/17/faux-fish-looks-to-ride-the-growing-wave-of-alternative-meats.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Faux fish looks to ride the growing wave of alternative meats</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFaux fish looks to ride the growing wave of alternative meats\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 08:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/17/faux-fish-looks-to-ride-the-growing-wave-of-alternative-meats.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Faux fish is angling to be the next big thing in alternative protein.\nAlt-meat has skyrocketed in popularity in recent years as consumers have started to change what they eat for a variety of reasons,...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/17/faux-fish-looks-to-ride-the-growing-wave-of-alternative-meats.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.cnbc.com/2021/07/17/faux-fish-looks-to-ride-the-growing-wave-of-alternative-meats.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1156209584","content_text":"Faux fish is angling to be the next big thing in alternative protein.\nAlt-meat has skyrocketed in popularity in recent years as consumers have started to change what they eat for a variety of reasons, ranging from concerns over climate change and sustainability to animal welfare and personal health benefits.\nThat has led to a proliferation of products from companies like Impossible Foods andBeyond Meat across grocery stores and restaurants while traditional meat companies likeTyson Foods, Perdue Farms andHormelare launching new entrants in the category.\nU.S. retail sales of plant-based foods grew 27% in 2020, bringing the total market to roughly $7 billion, according to data from the Plant-Based Foods Association (PBFA) and the Good Food Institute (GFI). The global market is forecasted to grow to $450 billion by 2040, according to consulting firm Kearney, which would represent roughly a quarter of the broader $1.8 trillion meat market.\nThemarket for plant-based productshas largely been driven by faux milk and meat, which make up 35% and 20%, respectively, of the total sales in the category, according to GFI. Plant-based meat sales grew 45% to $1.4 billon in 2020, while plant-based milk sales grew 20% to $2.5 billion.\nThe market for plant-based fish, on the other hand, has been slower to develop. While U.S. sales grew 23% in 2020, it only accounted for $12 million, according to GFI and PBFA. That represents 0.1% of the entire U.S. seafood market, compared to sales of plant-based meat making up 1.4% of U.S. meat sales.\n“Conventional seafood really has a health halo around it; it’s seen as a very healthy food that doctors often tell patients to consume more of,” Marika Azoff, corporate engagement specialist at GFI, said as to why alternative fish products may have lagged behind. “The environmental impacts aren’t as straightforward as they are with beef and dairy – they are a little bit more complex and kind of harder for the general public to grasp.”\nInvesting in faux fish\nHowever, several companies are looking to change that in an attempt to take a piece of the more than $15 billion U.S. seafood market.\nThere were 83 companies globally producing alternative seafood products as of June 2021, according to GFI, with 65 of them focusing on plant-based products. In comparison, there were only 29 companies producing alternative seafood products in 2017.\nIn 2020, more than $80 million was invested in alternative seafood companies — four times the amount invested in 2019, according to GFI.\nBlueNalu’s whole-muscle, cell-based yellowtail amberjack.Source: BlueNalu\nGathered Foods, which produces plant-based seafood brand Good Catch, raised a $32 million Series B funding round in January 2020 from investors including Lightlife Foods parent company Greenleaf Foods and 301 Inc., the venture arm ofGeneral Mills.\nBlueNalu, which is focused on cultured seafood, or fish produced directly from cells,raised $60 million in convertible note financingin January 2021, a record deal for an alternative seafood company.\nTo date, the two giants of alternative meat products have not yet made an entry in alternative fish. Impossible Foods said in 2019 that it was working on a plant-based fish recipe, but it has yet to release any products. Beyond Meat has previously stated it was focused on beef, poultry and pork.\n“There’s no reason that alterative seafood can’t or won’t catch up to the other types of alternative proteins,” said Azoff. “There is not a dominate company in plant-based seafood the way the meat and dairy categories have, but we’re seeing potential for that to change soon.”\nTraditional seafood companies are also making their own investments in alternative fish.\nIn September 2020, Nestlé launched Vuna, a plant-based tuna alternative that is the company’s first foray into plant-based seafood, citing statistics that 90% of global fish stocks are now depleted or close to depletion.\nThai Union Group, which owns brands like Chicken of the Sea, said it will launch a plant-based shrimp product by the end of this year, joining its other plant-based fish and crab products already available.\nTyson Ventures, the venture capital arm of Tyson Foods, invested in plant-based shellfish company New Wave Foods in September 2019, and joined its $18 million Series A funding round that closed in January. Bumble Bee Foods signed a joint venture with Good Catch in March 2020.\nGrowing concerns about the fishing industry\nVirginia-based Van Cleve Seafood Company, which sold traditional seafood for more than 20 years, started solely producing plant-based seafood products under the label The Plant Based Seafood Co., citing issues with the fishing industry such as child labor, overfishing and mislabeling.\n“We wanted to do something about it, and we thought if not us, then who?” Plant Based Seafood Co. chief executive officer Monica Talberttold CNBC’s Kate Rogers. “That’s when we made the decision, we were going to do something that would create change.”\nThe Plant Based Seafood Co. has products like crab cakes made from artichokes, and scallops and shrimp made from vegetable root starch, all of which are sold out online.\nConcerns about the fishing industry, further highlighted in the recent Netflix documentary “Seaspriacy” that advocates for the end of fish consumption, is viewed as a driver for consumers to switch to plant-based products. A poll of 2,500 Americans from Kelton Global found that reducing plastic waste in the ocean, saving ocean habitats and reducing harm towards marine animals would be reasons consumers would buy plant-based fish over wild-caught fish.\nGavin Gibbons, vice president of communications at the National Fisheries Institute, a trade group representing the fishing industry, said that the organization and its member companies view plant-based products a as “very likely part of the future of feeding a growing planet.”\n“They’re technologically impressive and can and should be able to coexist with real seafood, as long as they’re labeled accurately,” Gibbons said, noting that some of NFI’s member companies have made investments into alternative seafood.\nHowever, Gibbons said, presenting alternative seafood as either nutritionally superior to real fish or better for sustainability reasons would be wrong in his view.\n“The USDA’s Dietary Guidelines for Americans highlight that consumers don’t eat nearly enough seafood and it is unarguably the healthiest animal protein on the planet,” he said. “Few public health professionals would recommend imitation seafood over the real thing. They might make that recommendation for other products but not seafood. From that perspective these plant-based amalgams aren’t really alternatives they’re simply imitations.”\nGibbons said that 51% of the seafood consumers eat is farmed and about 75% of commercially important marine fish stocks, as stated and monitored by the Food and Agriculture Organization of the United Nations, are fished within biologically sustainable levels.\n“There’s a lot of hyperbole associated with claims about empty oceans and if that’s being used to market imitation products then it’s disingenuous,” Gibbons said.\nThere is one big obstacle that could stand in the way of fake fish: taste.\nWhile 43% of respondents to that Kelton poll said they would consider purchasing alternative seafood in the future and most cited flavor as the most important factor in driving consumption, 38% said they anticipate disliking the taste of alternative fish and 27% said they anticipate disliking the texture. Twenty-seven percent said they have never seen plant-based seafood at a grocery store.\n“First and foremost, consumers are going to purchase alternative seafood if it tastes good,” Azoff said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172185654,"gmtCreate":1626944473478,"gmtModify":1703481045851,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Is he trying to manipulate the market?","listText":"Is he trying to manipulate the market?","text":"Is he trying to manipulate the market?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/172185654","repostId":"1153484478","repostType":4,"repost":{"id":"1153484478","pubTimestamp":1626937348,"share":"https://ttm.financial/m/news/1153484478?lang=&edition=fundamental","pubTime":"2021-07-22 15:02","market":"us","language":"en","title":"Elon Musk Suggests Tesla Could Resume Accepting Bitcoin Soon","url":"https://stock-news.laohu8.com/highlight/detail?id=1153484478","media":"Benzinga","summary":"Tesla Inc(NASDAQ:TSLA) CEO Elon Musksuggested Wednesday that the electric vehicle maker will resume ","content":"<p><b>Tesla Inc</b>(NASDAQ:TSLA) CEO&nbsp;<b>Elon Musk</b>suggested Wednesday that the electric vehicle maker will resume accepting payments in&nbsp;<b>Bitcoin</b>(CRYPTO: BTC) if due diligence confirms preliminary findings that Bitcoin is turning a lot greener.</p>\n<p><b>What Happened:</b>“It looks like Bitcoin is shifting a lot more towards renewables,” said Musk at The B Word conference on Wednesday in a virtual appearance.</p>\n<p>Musk noted that heavy-duty coal plants that were “unequivocally” being used have been shut down, particularly in China.</p>\n<p>“I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number. If so, Tesla will resume accepting Bitcoin.”</p>\n<p>BTC traded 8.79% higher at $32,217.35 over 24 hours at press time.</p>\n<p><b>Why It Matters:</b>Musk reaffirmed on Wednesday that the most likely scenario was Tesla would resume accepting Bitcoin as a form of payment.</p>\n<p>However, the CEO pointed out that there exists some skepticism at the speed at which Bitcoin is turning green.</p>\n<p>“There’s just no way you could basically double or triple the amount of energy in such a short period of time with renewables.”</p>\n<p>Pointing towards the need to do diligence while stating Tesla’s mission of accelerating sustainable energy, Musk said, “We can’t be the company that does that and not do appropriate diligence on the energy usage of Bitcoin.”</p>\n<p>Tesla stopped accepting Bitcoin for vehicle purchases in May afterciting environmental concerns.</p>\n<p>Last month, Musk repeated that Tesla would begin accepting BTC when there’s “clear confirmation ofreasonable (~50%) clean energy usage” on Twitter.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk Suggests Tesla Could Resume Accepting Bitcoin Soon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk Suggests Tesla Could Resume Accepting Bitcoin Soon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-22 15:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/cryptocurrency/21/07/22096769/elon-musk-suggests-tesla-could-resume-accepting-bitcoin-soon><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla Inc(NASDAQ:TSLA) CEO Elon Musksuggested Wednesday that the electric vehicle maker will resume accepting payments in Bitcoin(CRYPTO: BTC) if due diligence confirms preliminary findings that ...</p>\n\n<a href=\"https://www.benzinga.com/markets/cryptocurrency/21/07/22096769/elon-musk-suggests-tesla-could-resume-accepting-bitcoin-soon\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/markets/cryptocurrency/21/07/22096769/elon-musk-suggests-tesla-could-resume-accepting-bitcoin-soon","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153484478","content_text":"Tesla Inc(NASDAQ:TSLA) CEO Elon Musksuggested Wednesday that the electric vehicle maker will resume accepting payments in Bitcoin(CRYPTO: BTC) if due diligence confirms preliminary findings that Bitcoin is turning a lot greener.\nWhat Happened:“It looks like Bitcoin is shifting a lot more towards renewables,” said Musk at The B Word conference on Wednesday in a virtual appearance.\nMusk noted that heavy-duty coal plants that were “unequivocally” being used have been shut down, particularly in China.\n“I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend towards increasing that number. If so, Tesla will resume accepting Bitcoin.”\nBTC traded 8.79% higher at $32,217.35 over 24 hours at press time.\nWhy It Matters:Musk reaffirmed on Wednesday that the most likely scenario was Tesla would resume accepting Bitcoin as a form of payment.\nHowever, the CEO pointed out that there exists some skepticism at the speed at which Bitcoin is turning green.\n“There’s just no way you could basically double or triple the amount of energy in such a short period of time with renewables.”\nPointing towards the need to do diligence while stating Tesla’s mission of accelerating sustainable energy, Musk said, “We can’t be the company that does that and not do appropriate diligence on the energy usage of Bitcoin.”\nTesla stopped accepting Bitcoin for vehicle purchases in May afterciting environmental concerns.\nLast month, Musk repeated that Tesla would begin accepting BTC when there’s “clear confirmation ofreasonable (~50%) clean energy usage” on Twitter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803714846,"gmtCreate":1627463660685,"gmtModify":1703490456092,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Market oversold due to fear","listText":"Market oversold due to fear","text":"Market oversold due to fear","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803714846","repostId":"1154854343","repostType":4,"repost":{"id":"1154854343","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627481786,"share":"https://ttm.financial/m/news/1154854343?lang=&edition=fundamental","pubTime":"2021-07-28 22:16","market":"us","language":"en","title":"Hot Chinese concept stocks continue to rebound","url":"https://stock-news.laohu8.com/highlight/detail?id=1154854343","media":"Tiger Newspress","summary":"Hot Chinese concept stocks continue to rebound in Wednesday morning trading.Alibaba,JD.com, Pinduodu","content":"<p>Hot Chinese concept stocks continue to rebound&nbsp;in Wednesday morning trading.Alibaba,JD.com,&nbsp;Pinduoduo,Baidu,DiDi&nbsp;Global,Nio,Xpeng Motors and Li Auto&nbsp;climbed between 3% and 13%.</p>\n<p><img src=\"https://static.tigerbbs.com/8198eadc3c17e2d3fa3226a5348e1bef\" tg-width=\"359\" tg-height=\"603\" width=\"100%\" height=\"auto\"></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>Hot Chinese concept stocks continue to rebound</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\">\nHot Chinese concept stocks continue to rebound\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-28 22:16</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Hot Chinese concept stocks continue to rebound&nbsp;in Wednesday morning trading.Alibaba,JD.com,&nbsp;Pinduoduo,Baidu,DiDi&nbsp;Global,Nio,Xpeng Motors and Li Auto&nbsp;climbed between 3% and 13%.</p>\n<p><img src=\"https://static.tigerbbs.com/8198eadc3c17e2d3fa3226a5348e1bef\" tg-width=\"359\" tg-height=\"603\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多","LI":"理想汽车","BABA":"阿里巴巴","NIO":"蔚来","BIDU":"百度","NTES":"网易","XPEV":"小鹏汽车","DIDI":"滴滴(已退市)","JD":"京东"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154854343","content_text":"Hot Chinese concept stocks continue to rebound in Wednesday morning trading.Alibaba,JD.com, Pinduoduo,Baidu,DiDi Global,Nio,Xpeng Motors and Li Auto climbed between 3% and 13%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815140059,"gmtCreate":1630659590471,"gmtModify":1676530368609,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Always remember to do your portfolio management","listText":"Always remember to do your portfolio management","text":"Always remember to do your portfolio management","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815140059","repostId":"1115112299","repostType":4,"repost":{"id":"1115112299","pubTimestamp":1630641559,"share":"https://ttm.financial/m/news/1115112299?lang=&edition=fundamental","pubTime":"2021-09-03 11:59","market":"us","language":"en","title":"What Will Happen When Trillions In Stimulus Run Out In 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=1115112299","media":"seekingalpha","summary":"Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in","content":"<p><b>Summary</b></p>\n<ul>\n <li>The US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.</li>\n <li>With expanded unemployment set to end, student loan &amp; mortgage forbearance to end, and a possible corporate tax rate hike on the horizon, it's possible 2022 earnings estimates for stocks are simply too high.</li>\n <li>In light of this, the broad stock market faces an unattractive risk-reward proposition.</li>\n <li>I break down the possibilities and game plan with expert value/dividend investor Sam Kovacs.</li>\n</ul>\n<p><b>Introduction</b></p>\n<p><i>Logan–</i>The United States government has turned to an unprecedented amount of fiscal and monetary stimulus to help the economy through the COVID-19 pandemic. Notable examples include multiple rounds of stimulus checks, the student loan pause, mortgage forbearance/eviction moratorium, PPP, and enhanced unemployment benefits. So far, this effort seems to have been successful, although critics point out that it has resulted in significant increases in inflation. However, the political and economic reality is that the US can't run $3 trillion deficits forever, at least without everyone implicitly paying for it via higher consumer prices compared to their earnings.</p>\n<p>The weight of theevidence suggeststhat prices are rising faster than wages. In turn, the government has stepped in to fill this gap with stimulus payments, but the trillion-dollar question is what happens when the economy has to run on its own productivity–rather than on temporary transfer payments. For 2021, thanks to pent-up demand and stimulus, S&amp;P 500 components are expected to smash the record for the highest amount ever earned in a year (somewhere between $200 and $205 per share for 2021, vs. the previous record of $163 in 2019). Wall Street analysts additionally expect the S&amp;P 500 to earn~$215 per share in 2022, which would be yet another record. When you pull numbers forproductivity and economic output, the picture isn't as great, which helps explain why there are so many shortages of goods and services right now. If you feel that the change in nominal economic output is more indicative of what corporations can earn over the medium term (taking away the impact of consumers spending temporary transfer payments), you get an earnings number for the S&amp;P 500 closer to $180, which is about 15 percent lower than Wall Street is currently expecting.</p>\n<p>Putting further pressure on earnings is the potential corporate tax hike from 21 percent to 25 percent, which will decrease S&amp;P 500 earnings by 5 percent, all else being equal. Political betting markets show that this has a roughly50/50 chance of becoming lawat the moment. With many investors making easy money piling into low-conviction, high momentum names, the consequences of unwinding stimulus could be a shock to their portfolio balances. Helping me make sense of the stimulus unwind is fellow<i>Seeking Alpha</i>authorSam Kovacs.Although living halfway across the world from me here in suburban Texas, Sam and I think eerily alike about the markets, gravitating to high-quality stocks with solid earnings and dividends.</p>\n<p><i>Sam–</i>Within the first couple of months of the Fed’s reaction to the pandemic, I was concerned that they would be placing themselves between a rock and a hard place. I would not have wanted to be in Powell’s shoes, but then again there aren’t many government jobs I’d consider taking. Striking a balance between pulling stimulus too early and risking runaway inflation is no easy task. The government has looked to prior crashes and decided that risking inflation was the way to go.</p>\n<p>Keep telling the people that it is “transitory” and surely it will be. But anyone who has taken Econ 101 knows that inflation feeds on itself. At first, companies are reactionary, but then they become proactive in pricing measures. Here are a few snippets.</p>\n<p>From Hormel's (HRL) latestcall:</p>\n<p><i>We have taken numerous pricing actions across the portfolio to protect profitability. The actions will take place early in the third quarter with additional pricing actions likely.</i></p>\n<p>From Conagra's (CAG) latestcall:</p>\n<p><i>And the short answer is yes. In fact, we began implementing pricing actions on some of our products in the quarter related to the initial inflation we experienced. The very early read on the data from those actions is that our elasticities look good so far. And we have more pricing coming.</i></p>\n<p>There will be no shortage of inflation in food in upcoming quarters. Oil price still has a couple of quarters of weak comparables which continue to contribute to higher headline inflation rates.</p>\n<p>Food &amp; transportation, along with housing are the major costs of US households. For1/6thof adults, you can throw in student loans as well. US consumers have been able to absorb the inflation on the back of various stimulus efforts.</p>\n<p>But the stimulus can’t last forever. Part of it is being extended as Delta is slowing (not killing) the recovery. What happens when the different forms of stimulus fade? That’s what we’re going to look at in the rest of the article.</p>\n<p>The Eviction/Foreclosure Moratorium</p>\n<p><i>Logan–</i>Foreclosures have started again, and the Supreme Court recentlystruck downthe eviction moratorium imposed by the CDC. By my last count, there are about1.5 million householdswho are in forbearance programs at the moment (i.e. not paying their mortgages), against somewhere in the ballpark of 50 million mortgages in the US. Foreclosure is a process, not an event, and the most common outcome is that people get behind on their payments, try to work with the bank for 6-12 months, and then eventually sell, collect their equity, and move somewhere cheaper. The problem in 2008 was that borrowers had negative equity on their mortgages, so it short-circuited this process. This isn't the case now–I don't see a systematic risk to the economy from foreclosures. Around 6-7 million houses in the US are bought and sold in a typical year, meaning in a vacuum, most people who are behind could sell over a 6-12 month period, and it would be a win-win for those struggling with the shortage of houses to buy and those who can't make payments on the ones they own. The Fed taper might complicate this. If mortgage rates go back up to the ~4 percent they've averaged over the last 10 years at the same time people are unloading houses they've been in forbearance on, prices are going to come down more.</p>\n<p>Evictions are messier–there are millions of people not paying rent and living off the extra money. When they have to start paying rent again somewhere else, their household budgets are going to dramatically shrink. Roughly 2-3 percent of American households are significantly behind on rent, so I would expect a lot of both formal and informal (cash for keys) evictions. This has to negatively affect consumer spending, and earnings estimates that ignore the unwind of stimulus are not properly accounting for it.</p>\n<p><i>Sam–</i>The risk here is not so much on the real estate market, as Logan correctly summarized, but rather the knock-on effects on consumption.</p>\n<p>The end of the federal eviction moratorium is a boon for apartment REITs which can resume collecting rent. However, that doesn’t mean investors should pile into residential REITs. have gone from deeply undervalued back to historically overvalued, as the below MAD Chart for Essex Property (ESS) shows. We previously suggested investors sell ESS.</p>\n<p><img src=\"https://static.tigerbbs.com/dc5c631a8b25f6a52735e699fbc69b29\" tg-width=\"640\" tg-height=\"293\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source:Dividend Freedom Tribe</i></p>\n<p>Looking at the other residential REITs on the block, the same picture emerges. AvalonBay Communities (AVB) also is historically overvalued.</p>\n<p><img src=\"https://static.tigerbbs.com/e17980a72bfba653b02553382a920419\" tg-width=\"640\" tg-height=\"315\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>None seem more overvalued relative to their historical normal range of prices than Camden Property Trust (CPT) which could easily come down by 1/3rdon a change in sentiment.</p>\n<p><img src=\"https://static.tigerbbs.com/136a7707c3add17401e4dd4047278e14\" tg-width=\"640\" tg-height=\"303\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>I believe that this trade has passed. We bought ESS about a year ago, and have been selling it throughout the past few months.</p>\n<p>Taking profits now in these industries makes sense: “buy the rumor/sell the news”.</p>\n<p>If we’re looking ahead, we’re seeing one lever which will pressure consumption for a certain part of the population.</p>\n<p><b>Student Loan Forbearance</b></p>\n<p><i>Logan–</i>The Biden Administration extended the student loan pause until January 31, 2022. 1 in 6 adults in the US has student loans, with an average balance of ~$40,000. Most borrowers are under 30, a group that spends a higher percentage of their income than, say a 50-year old saving for retirement. Hit 1 in 6 American adults with an average$400 per month payment, paid with mostly post-tax dollars, and that's like stimulus in reverse. Anecdotally, almost no one I know who has student loans is currently paying them. The extra money they're getting from not paying loans is generally either being spent on consumption, invested in cryptocurrency, or in meme stocks like GameStop (GME). This is a decent threat to consumer spending, and there isn't an easy way out. The left wing of the Democratic Party in the US wants to cancel most or all student loans, but the main problem with this is that much of the debt is held by middle and upper-middle-class professionals, which would create a moral hazard as well as redistribute wealth from people lower on the socioeconomic ladder (for example, people who work in trades and pay their income taxes) to those of higher social class (for example, indebted white-collar college graduates). We're talking$1.7+ trillion in US student loansthat are generally not being serviced by those who owe it for this 21 month period. When those kick in again, consumer spending is not going to be higher than it is now. 2022 earnings estimates are mostly blind to this fact.</p>\n<p><i>Sam–</i>When Logan and I initially discussed this article, this seemed to be the easiest form of stimulus for the government to keep giving. Since most of the loans are federal, a pause on the payments doesn’t explicitly hurt anyone enough to complain. And since the handouts are not direct, critics aren’t as vocal as they are with stimulus checks. The money which has been put into various investments, be it stock or crypto, will come out when they have to start servicing debt again. Whether this has enough of an impact to move markets is questionable, but the retail meme stocks could finally have their day of reckoning as a large portion of the population has to resume payments. The aftermath of removing the pause on debt servicing will be harsh for an important part of the population. At least you’ll still be able to watch a movie at AMC Theater (AMC).</p>\n<p><b>Enhanced Unemployment &amp; Stimulus Checks</b></p>\n<p>Logan- Enhanced unemployment runs out on September 6, and there are 11 million people who won't be getting it after that week. This is $3.3 billion per week that the Federal government is dripping out to unemployed persons, which in turn is a lot less than it was 12 months ago. When it's gone, it's yet another piece of the puzzle that will rein in consumer spending. Stimulus checks were another source of income for many Americans over the last 18 months. A family of 4 making the median income would have seen a stimulus check in March of $5,600, in addition to the prior payments under the Trump Administration. These aren't going to be going out anymore, and for middle-income Americans, this means that they won't be able to spend as much money as they have before. The expanded child tax credit may make up for this and is probably a more efficient means of getting money out, but it expires also in its current form in December.</p>\n<p><i>Sam–</i>Enhanced Unemployment is running out in a few days, we’re likely to see many of the 8 million Americans who are looking for a job finally find one amongthe 10 million job openings. As of the time of writing, job data is to be posted in the next few hours. Strong job numbers could kick off a Fed taper sooner than expected.</p>\n<p><b>Conclusion: What Is Yet to Come?</b></p>\n<p><i>Logan–</i>High profile earnings misses from the likes of Amazon (AMZN), Zoom Video (ZM), and Peloton (PTON) suggest that at least on a micro level, analysts assumed that good times would last forever for companies that benefitted from temporary changes resulting from the pandemic. Whether this is true on a macro level is a strong possibility, and depending on how the rest of earnings results come in for the rest of the year, it may end up becoming a reality. While it isn't set in stone that the market should necessarily go down significantly in price because of this, it's hard to deny that the risk-reward tradeoff for the market has deteriorated over the past 6-12 months. Now is a good time to dial back risk, if at all possible. A good defense, in both of our views, is to invest in high-quality companies rather than popular high-momentum stocks with middling fundamentals, and to take a long-term perspective.</p>\n<p><i>Sam–</i>The inflation train has left the station. Powell believes it is transitory, I believe that it might be partially transitory, but the abundance of fiscal stimulus has kicked up a cycle of inflation which will be above 2% for quite some time. The Covid delta variant has softened some economic indicators like eating out in restaurants or travel, but as the country’s case count is already peaking, the economy is set to continue heating up.</p>\n<p>This will lead to a taper. Higher rates, or even the expectation of higher rates, will lead to a change in discount rates, which is a fancy way to say future profits are worthless.</p>\n<p>Investors want to take a hard look at their portfolios and ask whether they have positions which are overvalued beyond reason?</p>\n<p>No need to look at obscure parts of the market, this is playing out in the S&amp;P 500 (SPY).</p>\n<p>For instance, I cannot fathom how a stock like Intuit (INTU) currently trades at 16x sales? Even on its lofty usual measure of 8-9x sales, this is unusually high. Compare it to the stock's historical dividend, and the reading is off the wall.</p>\n<p>Investors want to focus on companies with strong earnings power, large-scale operations, which are trading at relatively cheap valuations.</p>\n<p>Among those that come to mind in the top 100 stocks are Amgen (AMGN) which currently yields over 3%.</p>\n<p><img src=\"https://static.tigerbbs.com/cd53f68bc9f02f82e05458098625b0a7\" tg-width=\"640\" tg-height=\"297\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>Philip Morris International (PM), Broadcom (AVGO), and Morgan Stanley (MS.PK) are also undervalued relative to their historical valuations.</p>\n<p>In such an environment, focus on quality is a must. Focus on value is a close second. We’re looking to buy the highest quality assets with growth prospects at a decent price. We’re very cautious that stimulus unwinding will hit consumption which will hit earning results. Big misses from overvalued names spells trouble. The responsible thing to do is to scale out of stocks when they become overvalued.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Will Happen When Trillions In Stimulus Run Out In 2022?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Will Happen When Trillions In Stimulus Run Out In 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 11:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.\nWith expanded unemployment set to end, student loan & mortgage forbearance to end, and a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022\">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",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115112299","content_text":"Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.\nWith expanded unemployment set to end, student loan & mortgage forbearance to end, and a possible corporate tax rate hike on the horizon, it's possible 2022 earnings estimates for stocks are simply too high.\nIn light of this, the broad stock market faces an unattractive risk-reward proposition.\nI break down the possibilities and game plan with expert value/dividend investor Sam Kovacs.\n\nIntroduction\nLogan–The United States government has turned to an unprecedented amount of fiscal and monetary stimulus to help the economy through the COVID-19 pandemic. Notable examples include multiple rounds of stimulus checks, the student loan pause, mortgage forbearance/eviction moratorium, PPP, and enhanced unemployment benefits. So far, this effort seems to have been successful, although critics point out that it has resulted in significant increases in inflation. However, the political and economic reality is that the US can't run $3 trillion deficits forever, at least without everyone implicitly paying for it via higher consumer prices compared to their earnings.\nThe weight of theevidence suggeststhat prices are rising faster than wages. In turn, the government has stepped in to fill this gap with stimulus payments, but the trillion-dollar question is what happens when the economy has to run on its own productivity–rather than on temporary transfer payments. For 2021, thanks to pent-up demand and stimulus, S&P 500 components are expected to smash the record for the highest amount ever earned in a year (somewhere between $200 and $205 per share for 2021, vs. the previous record of $163 in 2019). Wall Street analysts additionally expect the S&P 500 to earn~$215 per share in 2022, which would be yet another record. When you pull numbers forproductivity and economic output, the picture isn't as great, which helps explain why there are so many shortages of goods and services right now. If you feel that the change in nominal economic output is more indicative of what corporations can earn over the medium term (taking away the impact of consumers spending temporary transfer payments), you get an earnings number for the S&P 500 closer to $180, which is about 15 percent lower than Wall Street is currently expecting.\nPutting further pressure on earnings is the potential corporate tax hike from 21 percent to 25 percent, which will decrease S&P 500 earnings by 5 percent, all else being equal. Political betting markets show that this has a roughly50/50 chance of becoming lawat the moment. With many investors making easy money piling into low-conviction, high momentum names, the consequences of unwinding stimulus could be a shock to their portfolio balances. Helping me make sense of the stimulus unwind is fellowSeeking AlphaauthorSam Kovacs.Although living halfway across the world from me here in suburban Texas, Sam and I think eerily alike about the markets, gravitating to high-quality stocks with solid earnings and dividends.\nSam–Within the first couple of months of the Fed’s reaction to the pandemic, I was concerned that they would be placing themselves between a rock and a hard place. I would not have wanted to be in Powell’s shoes, but then again there aren’t many government jobs I’d consider taking. Striking a balance between pulling stimulus too early and risking runaway inflation is no easy task. The government has looked to prior crashes and decided that risking inflation was the way to go.\nKeep telling the people that it is “transitory” and surely it will be. But anyone who has taken Econ 101 knows that inflation feeds on itself. At first, companies are reactionary, but then they become proactive in pricing measures. Here are a few snippets.\nFrom Hormel's (HRL) latestcall:\nWe have taken numerous pricing actions across the portfolio to protect profitability. The actions will take place early in the third quarter with additional pricing actions likely.\nFrom Conagra's (CAG) latestcall:\nAnd the short answer is yes. In fact, we began implementing pricing actions on some of our products in the quarter related to the initial inflation we experienced. The very early read on the data from those actions is that our elasticities look good so far. And we have more pricing coming.\nThere will be no shortage of inflation in food in upcoming quarters. Oil price still has a couple of quarters of weak comparables which continue to contribute to higher headline inflation rates.\nFood & transportation, along with housing are the major costs of US households. For1/6thof adults, you can throw in student loans as well. US consumers have been able to absorb the inflation on the back of various stimulus efforts.\nBut the stimulus can’t last forever. Part of it is being extended as Delta is slowing (not killing) the recovery. What happens when the different forms of stimulus fade? That’s what we’re going to look at in the rest of the article.\nThe Eviction/Foreclosure Moratorium\nLogan–Foreclosures have started again, and the Supreme Court recentlystruck downthe eviction moratorium imposed by the CDC. By my last count, there are about1.5 million householdswho are in forbearance programs at the moment (i.e. not paying their mortgages), against somewhere in the ballpark of 50 million mortgages in the US. Foreclosure is a process, not an event, and the most common outcome is that people get behind on their payments, try to work with the bank for 6-12 months, and then eventually sell, collect their equity, and move somewhere cheaper. The problem in 2008 was that borrowers had negative equity on their mortgages, so it short-circuited this process. This isn't the case now–I don't see a systematic risk to the economy from foreclosures. Around 6-7 million houses in the US are bought and sold in a typical year, meaning in a vacuum, most people who are behind could sell over a 6-12 month period, and it would be a win-win for those struggling with the shortage of houses to buy and those who can't make payments on the ones they own. The Fed taper might complicate this. If mortgage rates go back up to the ~4 percent they've averaged over the last 10 years at the same time people are unloading houses they've been in forbearance on, prices are going to come down more.\nEvictions are messier–there are millions of people not paying rent and living off the extra money. When they have to start paying rent again somewhere else, their household budgets are going to dramatically shrink. Roughly 2-3 percent of American households are significantly behind on rent, so I would expect a lot of both formal and informal (cash for keys) evictions. This has to negatively affect consumer spending, and earnings estimates that ignore the unwind of stimulus are not properly accounting for it.\nSam–The risk here is not so much on the real estate market, as Logan correctly summarized, but rather the knock-on effects on consumption.\nThe end of the federal eviction moratorium is a boon for apartment REITs which can resume collecting rent. However, that doesn’t mean investors should pile into residential REITs. have gone from deeply undervalued back to historically overvalued, as the below MAD Chart for Essex Property (ESS) shows. We previously suggested investors sell ESS.\n\nSource:Dividend Freedom Tribe\nLooking at the other residential REITs on the block, the same picture emerges. AvalonBay Communities (AVB) also is historically overvalued.\n\nSource: Dividend Freedom Tribe\nNone seem more overvalued relative to their historical normal range of prices than Camden Property Trust (CPT) which could easily come down by 1/3rdon a change in sentiment.\n\nSource: Dividend Freedom Tribe\nI believe that this trade has passed. We bought ESS about a year ago, and have been selling it throughout the past few months.\nTaking profits now in these industries makes sense: “buy the rumor/sell the news”.\nIf we’re looking ahead, we’re seeing one lever which will pressure consumption for a certain part of the population.\nStudent Loan Forbearance\nLogan–The Biden Administration extended the student loan pause until January 31, 2022. 1 in 6 adults in the US has student loans, with an average balance of ~$40,000. Most borrowers are under 30, a group that spends a higher percentage of their income than, say a 50-year old saving for retirement. Hit 1 in 6 American adults with an average$400 per month payment, paid with mostly post-tax dollars, and that's like stimulus in reverse. Anecdotally, almost no one I know who has student loans is currently paying them. The extra money they're getting from not paying loans is generally either being spent on consumption, invested in cryptocurrency, or in meme stocks like GameStop (GME). This is a decent threat to consumer spending, and there isn't an easy way out. The left wing of the Democratic Party in the US wants to cancel most or all student loans, but the main problem with this is that much of the debt is held by middle and upper-middle-class professionals, which would create a moral hazard as well as redistribute wealth from people lower on the socioeconomic ladder (for example, people who work in trades and pay their income taxes) to those of higher social class (for example, indebted white-collar college graduates). We're talking$1.7+ trillion in US student loansthat are generally not being serviced by those who owe it for this 21 month period. When those kick in again, consumer spending is not going to be higher than it is now. 2022 earnings estimates are mostly blind to this fact.\nSam–When Logan and I initially discussed this article, this seemed to be the easiest form of stimulus for the government to keep giving. Since most of the loans are federal, a pause on the payments doesn’t explicitly hurt anyone enough to complain. And since the handouts are not direct, critics aren’t as vocal as they are with stimulus checks. The money which has been put into various investments, be it stock or crypto, will come out when they have to start servicing debt again. Whether this has enough of an impact to move markets is questionable, but the retail meme stocks could finally have their day of reckoning as a large portion of the population has to resume payments. The aftermath of removing the pause on debt servicing will be harsh for an important part of the population. At least you’ll still be able to watch a movie at AMC Theater (AMC).\nEnhanced Unemployment & Stimulus Checks\nLogan- Enhanced unemployment runs out on September 6, and there are 11 million people who won't be getting it after that week. This is $3.3 billion per week that the Federal government is dripping out to unemployed persons, which in turn is a lot less than it was 12 months ago. When it's gone, it's yet another piece of the puzzle that will rein in consumer spending. Stimulus checks were another source of income for many Americans over the last 18 months. A family of 4 making the median income would have seen a stimulus check in March of $5,600, in addition to the prior payments under the Trump Administration. These aren't going to be going out anymore, and for middle-income Americans, this means that they won't be able to spend as much money as they have before. The expanded child tax credit may make up for this and is probably a more efficient means of getting money out, but it expires also in its current form in December.\nSam–Enhanced Unemployment is running out in a few days, we’re likely to see many of the 8 million Americans who are looking for a job finally find one amongthe 10 million job openings. As of the time of writing, job data is to be posted in the next few hours. Strong job numbers could kick off a Fed taper sooner than expected.\nConclusion: What Is Yet to Come?\nLogan–High profile earnings misses from the likes of Amazon (AMZN), Zoom Video (ZM), and Peloton (PTON) suggest that at least on a micro level, analysts assumed that good times would last forever for companies that benefitted from temporary changes resulting from the pandemic. Whether this is true on a macro level is a strong possibility, and depending on how the rest of earnings results come in for the rest of the year, it may end up becoming a reality. While it isn't set in stone that the market should necessarily go down significantly in price because of this, it's hard to deny that the risk-reward tradeoff for the market has deteriorated over the past 6-12 months. Now is a good time to dial back risk, if at all possible. A good defense, in both of our views, is to invest in high-quality companies rather than popular high-momentum stocks with middling fundamentals, and to take a long-term perspective.\nSam–The inflation train has left the station. Powell believes it is transitory, I believe that it might be partially transitory, but the abundance of fiscal stimulus has kicked up a cycle of inflation which will be above 2% for quite some time. The Covid delta variant has softened some economic indicators like eating out in restaurants or travel, but as the country’s case count is already peaking, the economy is set to continue heating up.\nThis will lead to a taper. Higher rates, or even the expectation of higher rates, will lead to a change in discount rates, which is a fancy way to say future profits are worthless.\nInvestors want to take a hard look at their portfolios and ask whether they have positions which are overvalued beyond reason?\nNo need to look at obscure parts of the market, this is playing out in the S&P 500 (SPY).\nFor instance, I cannot fathom how a stock like Intuit (INTU) currently trades at 16x sales? Even on its lofty usual measure of 8-9x sales, this is unusually high. Compare it to the stock's historical dividend, and the reading is off the wall.\nInvestors want to focus on companies with strong earnings power, large-scale operations, which are trading at relatively cheap valuations.\nAmong those that come to mind in the top 100 stocks are Amgen (AMGN) which currently yields over 3%.\n\nSource: Dividend Freedom Tribe\nPhilip Morris International (PM), Broadcom (AVGO), and Morgan Stanley (MS.PK) are also undervalued relative to their historical valuations.\nIn such an environment, focus on quality is a must. Focus on value is a close second. We’re looking to buy the highest quality assets with growth prospects at a decent price. We’re very cautious that stimulus unwinding will hit consumption which will hit earning results. Big misses from overvalued names spells trouble. The responsible thing to do is to scale out of stocks when they become overvalued.","news_type":1},"isVote":1,"tweetType":1,"viewCount":398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175664354,"gmtCreate":1627029338178,"gmtModify":1703482775872,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Maybe could consider Consumer Staples and Discretionary stocks which should have high secular domestic demands","listText":"Maybe could consider Consumer Staples and Discretionary stocks which should have high secular domestic demands","text":"Maybe could consider Consumer Staples and Discretionary stocks which should have high secular domestic demands","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175664354","repostId":"1112567098","repostType":4,"repost":{"id":"1112567098","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627048219,"share":"https://ttm.financial/m/news/1112567098?lang=&edition=fundamental","pubTime":"2021-07-23 21:50","market":"us","language":"en","title":"Chinese education stocks are trading sharply lower Fridaya after Bloomberg report suggested...","url":"https://stock-news.laohu8.com/highlight/detail?id=1112567098","media":"Tiger Newspress","summary":"(July 23) Chinese education stocks plunged in morning trading. Bloomberg report that, China consider","content":"<p>(July 23)&nbsp;Chinese education stocks plunged in morning trading.&nbsp;Bloomberg&nbsp;report&nbsp;that,&nbsp;China considers turning tutoring companies into Non-Profits.</p>\n<p><img src=\"https://static.tigerbbs.com/e2b057d861059cc83420bcf9edf2a465\" tg-width=\"370\" tg-height=\"246\" referrerpolicy=\"no-referrer\"></p>\n<p>China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to people familiar with the matter, as part of a sweeping set of constraints that could decimate the country’s $100 billion education tech industry.</p>\n<p>In rules currently being mulled, the platforms will likely no longer be allowed to raise capital or go public, the people said, asking to not be identified because the information is not public. Listed firms will also probably no longer be allowed to invest in or acquire education firms teaching school subjects while foreign capital will also be barred from the sector, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the people said.</p>\n<p>Local regulators will stop approving new after-school education firms seeking to offer tutoring on China’s compulsory syllabus and require extra scrutiny of existing online platforms, the people said. Vacation and weekend tutoring on school subjects will also be banned, they said. Changes may still occur as the rules haven’t been published. The 21st Century Business Herald earlier reported the bans on IPOs and investments by listed firms.</p>\n<p>The new set of regulations, devised and overseen by a dedicated branch set up just last month to regulate the industry, could wipe out the enormous growth that made stock market darlings of TAL Education Group and Gaotu Techedu Inc. The regulatory assault mirrors a broader campaign against the growing heft of Chinese internet companies from Didi Global Inc. to Alibaba Group Holding Ltd.</p>\n<p>“Making the sector non-profit is just as good as eradicating the industry all together,” said Wu Yuefeng, a fund manager at Funding Capital Management (Beijing) Co. “The regulations on financing are a major surprise and shows that to the authorities, this is a matter of no small importance. In the short term for the sector, any news will be bad news.”</p>\n<p>New Oriental Education &amp; Technology Group sank as much as 50% in Hong Kong Friday, while Koolearn Technology Holding Ltd. tumbled 31%.</p>\n<p>Beijing is coming down hard on the sector as excessive tutoring anguishes young pupils and burdens parents with expensive tutoring fees. It’s also regarded as an impediment to one of the country’s top priorities, boosting a declining birth rate. Last month, China said it will allow a couple to have three children and released a slew of support measures to encourage births and lower child expenses.</p>\n<p>Making the whole sector go non-profit “would make being a listed entity meaningless,” said Justin Tang, head of Asian research at United First Partners. “Investors are selling out first and asking questions later. It’s all being done to reduce cost of education and motivate citizens to raise kids.”</p>\n<p>Education technology had emerged as one of the hottest investment plays in China in recent years, with $10 billion of venture capital money pouring into the sector last year alone. Alibaba, Tencent Holdings Ltd. and ByteDance Ltd. all entered the arena, seeking to capitalize on Chinese parents’ desires to give their children every academic advantage. A spokesman from the education ministry said relevant polices are still being formulated and declined to provide more details.</p>\n<p>Beijing is taking issue with for-profit companies for stressing out kids while enriching investors and startup founders. In May, President Xi Jinping chaired a meeting with top officials where they approved a new set of rules to ease the burden of homework and after-school training for primary and secondary school students.</p>\n<p>Last month, China’s education ministry created a dedicated division to oversee all private education platforms for the first time. That followed a plethora of restrictions, including caps on fees firms can charge and time limits on after-school programs. Regulators have fined two of the biggest startups for false advertising: Alibaba-backed Zuoyebang and Tencent-investee Yuanfudao. A new law on minor protection, which went into effect June 1, also bans kindergarten and private institutions from teaching the primary-school curriculum to pre-schoolers -- not uncommon previously.</p>\n<p>Several high-profile startups in the sector -- including Yuanfudao, which at $15.5 billion is the most valuable of the lot -- are likely to have to put initial public offering plans on hold because of the crackdown.</p>\n<p>Shares of China’s largest private education companies are among the world’s worst performers in recent months, with New Oriental Education, TAL Education and Gaotu Techedu together shedding nearly $100 billion of value from their highs reached earlier this year.</p>\n<p>Gaotu, New Oriental, Zuoyebang, Yuanfudao and TAL didn’t immediately respond to requests for comment.</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>Chinese education stocks are trading sharply lower Fridaya after Bloomberg report suggested...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese education stocks are trading sharply lower Fridaya after Bloomberg report suggested...\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-23 21:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(July 23)&nbsp;Chinese education stocks plunged in morning trading.&nbsp;Bloomberg&nbsp;report&nbsp;that,&nbsp;China considers turning tutoring companies into Non-Profits.</p>\n<p><img src=\"https://static.tigerbbs.com/e2b057d861059cc83420bcf9edf2a465\" tg-width=\"370\" tg-height=\"246\" referrerpolicy=\"no-referrer\"></p>\n<p>China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to people familiar with the matter, as part of a sweeping set of constraints that could decimate the country’s $100 billion education tech industry.</p>\n<p>In rules currently being mulled, the platforms will likely no longer be allowed to raise capital or go public, the people said, asking to not be identified because the information is not public. Listed firms will also probably no longer be allowed to invest in or acquire education firms teaching school subjects while foreign capital will also be barred from the sector, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the people said.</p>\n<p>Local regulators will stop approving new after-school education firms seeking to offer tutoring on China’s compulsory syllabus and require extra scrutiny of existing online platforms, the people said. Vacation and weekend tutoring on school subjects will also be banned, they said. Changes may still occur as the rules haven’t been published. The 21st Century Business Herald earlier reported the bans on IPOs and investments by listed firms.</p>\n<p>The new set of regulations, devised and overseen by a dedicated branch set up just last month to regulate the industry, could wipe out the enormous growth that made stock market darlings of TAL Education Group and Gaotu Techedu Inc. The regulatory assault mirrors a broader campaign against the growing heft of Chinese internet companies from Didi Global Inc. to Alibaba Group Holding Ltd.</p>\n<p>“Making the sector non-profit is just as good as eradicating the industry all together,” said Wu Yuefeng, a fund manager at Funding Capital Management (Beijing) Co. “The regulations on financing are a major surprise and shows that to the authorities, this is a matter of no small importance. In the short term for the sector, any news will be bad news.”</p>\n<p>New Oriental Education &amp; Technology Group sank as much as 50% in Hong Kong Friday, while Koolearn Technology Holding Ltd. tumbled 31%.</p>\n<p>Beijing is coming down hard on the sector as excessive tutoring anguishes young pupils and burdens parents with expensive tutoring fees. It’s also regarded as an impediment to one of the country’s top priorities, boosting a declining birth rate. Last month, China said it will allow a couple to have three children and released a slew of support measures to encourage births and lower child expenses.</p>\n<p>Making the whole sector go non-profit “would make being a listed entity meaningless,” said Justin Tang, head of Asian research at United First Partners. “Investors are selling out first and asking questions later. It’s all being done to reduce cost of education and motivate citizens to raise kids.”</p>\n<p>Education technology had emerged as one of the hottest investment plays in China in recent years, with $10 billion of venture capital money pouring into the sector last year alone. Alibaba, Tencent Holdings Ltd. and ByteDance Ltd. all entered the arena, seeking to capitalize on Chinese parents’ desires to give their children every academic advantage. A spokesman from the education ministry said relevant polices are still being formulated and declined to provide more details.</p>\n<p>Beijing is taking issue with for-profit companies for stressing out kids while enriching investors and startup founders. In May, President Xi Jinping chaired a meeting with top officials where they approved a new set of rules to ease the burden of homework and after-school training for primary and secondary school students.</p>\n<p>Last month, China’s education ministry created a dedicated division to oversee all private education platforms for the first time. That followed a plethora of restrictions, including caps on fees firms can charge and time limits on after-school programs. Regulators have fined two of the biggest startups for false advertising: Alibaba-backed Zuoyebang and Tencent-investee Yuanfudao. A new law on minor protection, which went into effect June 1, also bans kindergarten and private institutions from teaching the primary-school curriculum to pre-schoolers -- not uncommon previously.</p>\n<p>Several high-profile startups in the sector -- including Yuanfudao, which at $15.5 billion is the most valuable of the lot -- are likely to have to put initial public offering plans on hold because of the crackdown.</p>\n<p>Shares of China’s largest private education companies are among the world’s worst performers in recent months, with New Oriental Education, TAL Education and Gaotu Techedu together shedding nearly $100 billion of value from their highs reached earlier this year.</p>\n<p>Gaotu, New Oriental, Zuoyebang, Yuanfudao and TAL didn’t immediately respond to requests for comment.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOTU":"高途","TAL":"好未来","EDU":"新东方"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112567098","content_text":"(July 23) Chinese education stocks plunged in morning trading. Bloomberg report that, China considers turning tutoring companies into Non-Profits.\n\nChina is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to people familiar with the matter, as part of a sweeping set of constraints that could decimate the country’s $100 billion education tech industry.\nIn rules currently being mulled, the platforms will likely no longer be allowed to raise capital or go public, the people said, asking to not be identified because the information is not public. Listed firms will also probably no longer be allowed to invest in or acquire education firms teaching school subjects while foreign capital will also be barred from the sector, one of the people said.\nLocal regulators will stop approving new after-school education firms seeking to offer tutoring on China’s compulsory syllabus and require extra scrutiny of existing online platforms, the people said. Vacation and weekend tutoring on school subjects will also be banned, they said. Changes may still occur as the rules haven’t been published. The 21st Century Business Herald earlier reported the bans on IPOs and investments by listed firms.\nThe new set of regulations, devised and overseen by a dedicated branch set up just last month to regulate the industry, could wipe out the enormous growth that made stock market darlings of TAL Education Group and Gaotu Techedu Inc. The regulatory assault mirrors a broader campaign against the growing heft of Chinese internet companies from Didi Global Inc. to Alibaba Group Holding Ltd.\n“Making the sector non-profit is just as good as eradicating the industry all together,” said Wu Yuefeng, a fund manager at Funding Capital Management (Beijing) Co. “The regulations on financing are a major surprise and shows that to the authorities, this is a matter of no small importance. In the short term for the sector, any news will be bad news.”\nNew Oriental Education & Technology Group sank as much as 50% in Hong Kong Friday, while Koolearn Technology Holding Ltd. tumbled 31%.\nBeijing is coming down hard on the sector as excessive tutoring anguishes young pupils and burdens parents with expensive tutoring fees. It’s also regarded as an impediment to one of the country’s top priorities, boosting a declining birth rate. Last month, China said it will allow a couple to have three children and released a slew of support measures to encourage births and lower child expenses.\nMaking the whole sector go non-profit “would make being a listed entity meaningless,” said Justin Tang, head of Asian research at United First Partners. “Investors are selling out first and asking questions later. It’s all being done to reduce cost of education and motivate citizens to raise kids.”\nEducation technology had emerged as one of the hottest investment plays in China in recent years, with $10 billion of venture capital money pouring into the sector last year alone. Alibaba, Tencent Holdings Ltd. and ByteDance Ltd. all entered the arena, seeking to capitalize on Chinese parents’ desires to give their children every academic advantage. A spokesman from the education ministry said relevant polices are still being formulated and declined to provide more details.\nBeijing is taking issue with for-profit companies for stressing out kids while enriching investors and startup founders. In May, President Xi Jinping chaired a meeting with top officials where they approved a new set of rules to ease the burden of homework and after-school training for primary and secondary school students.\nLast month, China’s education ministry created a dedicated division to oversee all private education platforms for the first time. That followed a plethora of restrictions, including caps on fees firms can charge and time limits on after-school programs. Regulators have fined two of the biggest startups for false advertising: Alibaba-backed Zuoyebang and Tencent-investee Yuanfudao. A new law on minor protection, which went into effect June 1, also bans kindergarten and private institutions from teaching the primary-school curriculum to pre-schoolers -- not uncommon previously.\nSeveral high-profile startups in the sector -- including Yuanfudao, which at $15.5 billion is the most valuable of the lot -- are likely to have to put initial public offering plans on hold because of the crackdown.\nShares of China’s largest private education companies are among the world’s worst performers in recent months, with New Oriental Education, TAL Education and Gaotu Techedu together shedding nearly $100 billion of value from their highs reached earlier this year.\nGaotu, New Oriental, Zuoyebang, Yuanfudao and TAL didn’t immediately respond to requests for comment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817689052,"gmtCreate":1630940620176,"gmtModify":1676530425504,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Hopefully the management could explore new business opportunities thru aquisition or diversificatio","listText":"Hopefully the management could explore new business opportunities thru aquisition or diversificatio","text":"Hopefully the management could explore new business opportunities thru aquisition or diversificatio","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/817689052","repostId":"2165384258","repostType":4,"repost":{"id":"2165384258","pubTimestamp":1630927620,"share":"https://ttm.financial/m/news/2165384258?lang=&edition=fundamental","pubTime":"2021-09-06 19:27","market":"us","language":"en","title":"This High-Growth Stock Is Down More Than 40% -- Time to Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=2165384258","media":"Motley Fool","summary":"One of the biggest winners of 2020 has pulled back considerably.","content":"<blockquote>\n <b>One of the biggest winners of 2020 has pulled back considerably.</b>\n</blockquote>\n<p><b><a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications</b> was <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the best performing stocks of 2020 but hasn't performed nearly as well this year. In fact, before the recent earnings-fueled dip, Zoom shares were about 40% off their 52-week high reached in late 2020. In this <i>Motley</i> <i>Fool Live&nbsp;</i>video clip,&nbsp;<b>recorded on Aug. 23</b>, Fool.com contributors Matt Frankel, CFP, and Jason Hall discuss why Zoom may have pulled back and whether it could be a smart investment now.</p>\n<p><b>Jason Hall:</b> Zoom Video Communications, and it's interesting. I want to say this off the bat, I think this is something that we generally try to talk about with a lot of episodes of <i>The Rank</i>. Sometimes, we rank businesses that the lowest ranked one, we think is a dog. We think it's junk, we think you shouldn't own it. I think in this case, again, we're talking about stocks that Matt owns, I own or maybe both of us own. I think it's important to remember, I think this is one of those shows that our rankings are probably more about our conviction and not whether we think it's a bad business or a good business because I ranked this as my fifth stock of the six. I own a lot and I think it's a wonderful business and it's well run. What's the story was in video communication. As you said, I think this is definitely the epitome of the stay-at-home, work-from-home stock from 2020. In a nutshell, that's Zoom. Its core business, of course, is providing telecommunication service, video conferencing largely to businesses, but also people use it for personal use. If you look at the growth rates, I don't have it right in front of me, but I think the revenue that it reported, its growth rate for its first quarter was up 190% revenue growth. That was revenue in calendar 2021 that it reported. The company is set to report in about a week. It's going report its second quarter. I think there is a tremendous amount of interest to see how the company's businesses performed. If you start looking at certain segments, there are certain cohorts of customers, the number of customers that spend more than $100,000 per year doubled in that first quarter. It's a business that even though we say it's the epitome of the stay-at-home stock or work-from-home stock, it has continued to grow at a very, very high rate. Then you think about the economics of the business, incredible cash generation. Its cash margins, I think they're somewhere along the lines of 50%. It's absolutely immense, the amount of cash that this business generates from its operations. What's the story with the stock? Couple of things, because its high price was actually reached back in 2020 last fall. It peaked a little bit again earlier this year and then it fell again since reaching its 2021 peak. It's really that pivot. There's the expectations of the growth is only going to play out for so long. What's going to happen when we go more and more to normal ways of business? We don't know the answer to that yet, right, Matt? For every company that said they were going to have their workers back in the office this fall, there's 20 companies in that same industry that have said, \"Yeah, we're going to hold off for a few more months.\" I think it's really interesting to watch it play out.</p>\n<p><b>Matt Frankel:</b> I've seen a more headlines with companies delaying their return to the office, than I have of returning to the office lately. I ranked them six. It's a great business. It's the one that I would be least excited in putting new money into now, which is I think why I got my No. 6. I tend to be the reopening guy at the Fool. I'm an eternal optimist when it comes to everyone wants to be out and about and get together and things like that. I just went to my first concert in a year and a half this weekend, it was fantastic. Everyone was so happy to be there. I tend to have more optimism when it comes to reopening than most. But having said that, a lot of our favorite stay-at-home stocks didn't peak till early this year. Zoom peaked in last fall as Jason said, and it's for a reason. That was before the vaccine news started coming out. That was when we didn't know if anyone was ever going to get back to the office. If you remember Pfizer's first phase 3 data started coming out in mid-November. I think it was Nov. 14 around. That's really what made the investors think twice. Then when the vaccine started being widely available in March, that was the second leg down. I don't think it's a bad business to own long-term. I think over the next few quarters and next year or two, it's going to get hit harder by the reopening than most people think it will.</p>\n<p><b>Hall:</b> Here's the chart. This just shows what we are talking about that peak. In the fall, I said about tons the vaccines started to get scaled up and rolled out and then again peaked in early February this year, there are a lot of our favorite tech growth stocks peaked over that same period. I just want to throw these numbers to overlay that just to see. You look at revenue, growth has continued to be very, very strong over that period. The question for me, I'm in that same boat with you in terms of the six, it's almost at the bottom of my ranking in terms of least interested in putting new money in right now. I think what it is is what is the market going to determine this business is worth, once the growth rate go slow? Then what does management do with all of those massive excess cash flows to diversify the business? Because we talked about optionality with the business with a lot of cash flows. Is it going to start buying back shares? What does its future look like beyond this hyper-growth phase? That's why I ranked them because it's just hard for me to predict what that looks like. I'm not selling. I love the business, and I intend to own it for a long time.</p>","source":"fool_stock","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>This High-Growth Stock Is Down More Than 40% -- Time to Buy?</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\">\nThis High-Growth Stock Is Down More Than 40% -- Time to Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-06 19:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/06/this-high-growth-stock-is-down-more-than-40-time-t/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>One of the biggest winners of 2020 has pulled back considerably.\n\nZoom Video Communications was one of the best performing stocks of 2020 but hasn't performed nearly as well this year. In fact, before...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/06/this-high-growth-stock-is-down-more-than-40-time-t/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom"},"source_url":"https://www.fool.com/investing/2021/09/06/this-high-growth-stock-is-down-more-than-40-time-t/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165384258","content_text":"One of the biggest winners of 2020 has pulled back considerably.\n\nZoom Video Communications was one of the best performing stocks of 2020 but hasn't performed nearly as well this year. In fact, before the recent earnings-fueled dip, Zoom shares were about 40% off their 52-week high reached in late 2020. In this Motley Fool Live video clip, recorded on Aug. 23, Fool.com contributors Matt Frankel, CFP, and Jason Hall discuss why Zoom may have pulled back and whether it could be a smart investment now.\nJason Hall: Zoom Video Communications, and it's interesting. I want to say this off the bat, I think this is something that we generally try to talk about with a lot of episodes of The Rank. Sometimes, we rank businesses that the lowest ranked one, we think is a dog. We think it's junk, we think you shouldn't own it. I think in this case, again, we're talking about stocks that Matt owns, I own or maybe both of us own. I think it's important to remember, I think this is one of those shows that our rankings are probably more about our conviction and not whether we think it's a bad business or a good business because I ranked this as my fifth stock of the six. I own a lot and I think it's a wonderful business and it's well run. What's the story was in video communication. As you said, I think this is definitely the epitome of the stay-at-home, work-from-home stock from 2020. In a nutshell, that's Zoom. Its core business, of course, is providing telecommunication service, video conferencing largely to businesses, but also people use it for personal use. If you look at the growth rates, I don't have it right in front of me, but I think the revenue that it reported, its growth rate for its first quarter was up 190% revenue growth. That was revenue in calendar 2021 that it reported. The company is set to report in about a week. It's going report its second quarter. I think there is a tremendous amount of interest to see how the company's businesses performed. If you start looking at certain segments, there are certain cohorts of customers, the number of customers that spend more than $100,000 per year doubled in that first quarter. It's a business that even though we say it's the epitome of the stay-at-home stock or work-from-home stock, it has continued to grow at a very, very high rate. Then you think about the economics of the business, incredible cash generation. Its cash margins, I think they're somewhere along the lines of 50%. It's absolutely immense, the amount of cash that this business generates from its operations. What's the story with the stock? Couple of things, because its high price was actually reached back in 2020 last fall. It peaked a little bit again earlier this year and then it fell again since reaching its 2021 peak. It's really that pivot. There's the expectations of the growth is only going to play out for so long. What's going to happen when we go more and more to normal ways of business? We don't know the answer to that yet, right, Matt? For every company that said they were going to have their workers back in the office this fall, there's 20 companies in that same industry that have said, \"Yeah, we're going to hold off for a few more months.\" I think it's really interesting to watch it play out.\nMatt Frankel: I've seen a more headlines with companies delaying their return to the office, than I have of returning to the office lately. I ranked them six. It's a great business. It's the one that I would be least excited in putting new money into now, which is I think why I got my No. 6. I tend to be the reopening guy at the Fool. I'm an eternal optimist when it comes to everyone wants to be out and about and get together and things like that. I just went to my first concert in a year and a half this weekend, it was fantastic. Everyone was so happy to be there. I tend to have more optimism when it comes to reopening than most. But having said that, a lot of our favorite stay-at-home stocks didn't peak till early this year. Zoom peaked in last fall as Jason said, and it's for a reason. That was before the vaccine news started coming out. That was when we didn't know if anyone was ever going to get back to the office. If you remember Pfizer's first phase 3 data started coming out in mid-November. I think it was Nov. 14 around. That's really what made the investors think twice. Then when the vaccine started being widely available in March, that was the second leg down. I don't think it's a bad business to own long-term. I think over the next few quarters and next year or two, it's going to get hit harder by the reopening than most people think it will.\nHall: Here's the chart. This just shows what we are talking about that peak. In the fall, I said about tons the vaccines started to get scaled up and rolled out and then again peaked in early February this year, there are a lot of our favorite tech growth stocks peaked over that same period. I just want to throw these numbers to overlay that just to see. You look at revenue, growth has continued to be very, very strong over that period. The question for me, I'm in that same boat with you in terms of the six, it's almost at the bottom of my ranking in terms of least interested in putting new money in right now. I think what it is is what is the market going to determine this business is worth, once the growth rate go slow? Then what does management do with all of those massive excess cash flows to diversify the business? Because we talked about optionality with the business with a lot of cash flows. Is it going to start buying back shares? What does its future look like beyond this hyper-growth phase? That's why I ranked them because it's just hard for me to predict what that looks like. I'm not selling. I love the business, and I intend to own it for a long time.","news_type":1},"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173986657,"gmtCreate":1626599864579,"gmtModify":1703762220890,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Potfolio diversification and management is important","listText":"Potfolio diversification and management is important","text":"Potfolio diversification and management is important","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173986657","repostId":"1149577900","repostType":4,"repost":{"id":"1149577900","pubTimestamp":1626483617,"share":"https://ttm.financial/m/news/1149577900?lang=&edition=fundamental","pubTime":"2021-07-17 09:00","market":"us","language":"en","title":"Don't Fear A Stock Market Crash","url":"https://stock-news.laohu8.com/highlight/detail?id=1149577900","media":"seekingalpha","summary":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push ","content":"<p>Summary</p>\n<ul>\n <li>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.</li>\n <li>There are four main factors that this market exhibits that have the potential to cause a crash.</li>\n <li>Those factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.</li>\n <li>Preparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.</li>\n <li>A crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.</li>\n</ul>\n<p>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.</p>\n<p>An Abundance of 'Warnings'</p>\n<p>Simply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.</p>\n<ul>\n <li>Harry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.</li>\n <li>Jeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.</li>\n <li>John Hussmanhas warned that valuations are extreme, and called for the S&amp;P 500 to see 12 years of negative returns ahead and a &gt;60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"</li>\n</ul>\n<p>Yet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&amp;P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.</p>\n<p>Four Factors</p>\n<p>While there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.</p>\n<p>Excessive Speculation</p>\n<p>Speculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.</p>\n<p>While single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.</p>\n<p><img src=\"https://static.tigerbbs.com/dccc290398aed22a11cf41ae63a85bce\" tg-width=\"624\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p>Margin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.</p>\n<p>Back in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.</p>\n<p>Speculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.</p>\n<p>Growth Slowdown</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/034a916ba93dac9b099409c5906bee37\" tg-width=\"631\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><span>Graphic fromWeForumvia Statista</span></p>\n<p>The economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.</p>\n<p>Unemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.</p>\n<p>The market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.</p>\n<p>Peak Valuations</p>\n<p>Arguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/388dd5417e610209de84d8a86ca86f91\" tg-width=\"624\" tg-height=\"351\" referrerpolicy=\"no-referrer\"><span>Graphic fromBloomberg</span></p>\n<p>February and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising &gt;100% on rumors of mergers, only to fall &gt;50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.</p>\n<p>SPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a5ace269e2c48c6ad6bb5180ce32e48\" tg-width=\"635\" tg-height=\"535\" referrerpolicy=\"no-referrer\"><span>Data byYCharts</span></p>\n<p>Tech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.</p>\n<p>But these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&amp;P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/136219a2e6ea016fd91597c989fa1a9e\" tg-width=\"624\" tg-height=\"312\" referrerpolicy=\"no-referrer\"><span>Graphic fromCurrent Market Valuation</span></p>\n<p>And as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ab71b923769effdde5d09e1d3cd3fd\" tg-width=\"624\" tg-height=\"354\" referrerpolicy=\"no-referrer\"><span>Graphic fromBusiness Insider</span></p>\n<p>Low Interest Rates</p>\n<p>The fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.</p>\n<p>When interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e8cb16f3b4b962cfa8adbffa4127b92\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Graphic fromJP Morgan</span></p>\n<p>Although rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.</p>\n<p>Is It Time To Prepare?</p>\n<p>Signs and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims of<i>x%</i>drops in<i>x</i>month are speculative in nature, unless that individual knows something unknown to the rest of the market.</p>\n<p>When facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like&nbsp;SPY&nbsp;and&nbsp;DIA&nbsp;could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.<i>Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.</i></p>\n<p>Again, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.</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>Don't Fear A Stock Market Crash</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\">\nDon't Fear A Stock Market Crash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-17 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1149577900","content_text":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the potential to cause a crash.\nThose factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.\nPreparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.\nA crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.\nAn Abundance of 'Warnings'\nSimply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.\n\nHarry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.\nJeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.\nJohn Hussmanhas warned that valuations are extreme, and called for the S&P 500 to see 12 years of negative returns ahead and a >60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"\n\nYet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.\nFour Factors\nWhile there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.\nExcessive Speculation\nSpeculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.\nWhile single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.\n\nMargin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.\nBack in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.\nSpeculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.\nGrowth Slowdown\nGraphic fromWeForumvia Statista\nThe economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.\nUnemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.\nThe market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.\nPeak Valuations\nArguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.\nGraphic fromBloomberg\nFebruary and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising >100% on rumors of mergers, only to fall >50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.\nSPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.\nData byYCharts\nTech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.\nBut these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.\nGraphic fromCurrent Market Valuation\nAnd as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.\nGraphic fromBusiness Insider\nLow Interest Rates\nThe fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.\nWhen interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.\nGraphic fromJP Morgan\nAlthough rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.\nIs It Time To Prepare?\nSigns and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims ofx%drops inxmonth are speculative in nature, unless that individual knows something unknown to the rest of the market.\nWhen facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like SPY and DIA could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.\nAgain, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9960166125,"gmtCreate":1668100643167,"gmtModify":1676538013026,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/09868\">$XPENG-W(09868)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/09868\">$XPENG-W(09868)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$XPENG-W(09868)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9960166125","isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9912427974,"gmtCreate":1664888157599,"gmtModify":1676537523601,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a><v-v data-views=\"1\"></v-v>","text":"$Palantir Technologies Inc.(PLTR)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9912427974","isVote":1,"tweetType":1,"viewCount":653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804751608,"gmtCreate":1627982652304,"gmtModify":1703499063892,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"There's light at the end of tunnel. Global demand for fossil fuels will continue while transition to alternative&nbsp; and renewable energy.","listText":"There's light at the end of tunnel. Global demand for fossil fuels will continue while transition to alternative&nbsp; and renewable energy.","text":"There's light at the end of tunnel. Global demand for fossil fuels will continue while transition to alternative and renewable energy.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804751608","repostId":"2156149842","repostType":4,"repost":{"id":"2156149842","pubTimestamp":1627979022,"share":"https://ttm.financial/m/news/2156149842?lang=&edition=fundamental","pubTime":"2021-08-03 16:23","market":"us","language":"en","title":"BP Follows Big Oil Peers by Increasing Buybacks and Dividend","url":"https://stock-news.laohu8.com/highlight/detail?id=2156149842","media":"Bloomberg","summary":"(Bloomberg) --BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher","content":"<p>(Bloomberg) --BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit.</p>\n<p>The oil majors -- with the notable exception of Exxon Mobil Corp. -- are raising returns as they move past the worst of the slump caused by the coronavirus pandemic. Their goal is to woo investors who are becoming increasingly wary about the future of the fossil fuels in a changing climate.</p>\n<p>BP posted “another quarter of strong performance while investing for the future in a disciplined way,” Chief Executive Officer Bernard Looney said in a statement on Tuesday. “We are increasing our resilient dividend by 4% per ordinary share, and in addition we are commencing a buyback of $1.4 billion from first half surplus cash flow.”</p>\n<p>Both are significant pledges that go further than the distributions policy outlined earlier this year. The turnaround reflects the impact of higher energy prices, but also demands from shareholders, who weren’t happy in early 2021 with BP’s plans.</p>\n<p>The London-based company’s second-quarter adjusted net income was $2.8 billion, compared with a loss of $6.68 billion a year earlier, according to the statement. That was above the average estimate of $2.13 billion in a Bloomberg poll of 19 analysts.</p>\n<p>Having surpassed its net debt target of $35 billion in the first quarter, BP said it would return at least 60% of surplus cash flow to shareholders this year. If prices remain at current levels, buybacks could be “material” over the coming years, Looney said earlier this month.</p>\n<p>BP’s net liabilities dropped further in the period to $32.71 billion, thanks to the sale of assets. The firm has a goal of reaching $25 billion of divestments by 2025 to fund the expansion of its low-carbon business.</p>\n<p>BP&nbsp;rose&nbsp;over&nbsp;4%&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/19d35ac20144bbd604395646f00275c5\" tg-width=\"946\" tg-height=\"633\" referrerpolicy=\"no-referrer\"><i>(Update: August 3, 2021 at 04:36 a.m. ET)</i></p>","source":"yahoofinance","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>BP Follows Big Oil Peers by Increasing Buybacks and Dividend</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\">\nBP Follows Big Oil Peers by Increasing Buybacks and Dividend\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-03 16:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bp-follows-big-oil-peers-061342766.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) --BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit.\nThe oil majors -- with the notable exception of Exxon Mobil Corp. -- ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bp-follows-big-oil-peers-061342766.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BP":"英国石油"},"source_url":"https://finance.yahoo.com/news/bp-follows-big-oil-peers-061342766.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2156149842","content_text":"(Bloomberg) --BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit.\nThe oil majors -- with the notable exception of Exxon Mobil Corp. -- are raising returns as they move past the worst of the slump caused by the coronavirus pandemic. Their goal is to woo investors who are becoming increasingly wary about the future of the fossil fuels in a changing climate.\nBP posted “another quarter of strong performance while investing for the future in a disciplined way,” Chief Executive Officer Bernard Looney said in a statement on Tuesday. “We are increasing our resilient dividend by 4% per ordinary share, and in addition we are commencing a buyback of $1.4 billion from first half surplus cash flow.”\nBoth are significant pledges that go further than the distributions policy outlined earlier this year. The turnaround reflects the impact of higher energy prices, but also demands from shareholders, who weren’t happy in early 2021 with BP’s plans.\nThe London-based company’s second-quarter adjusted net income was $2.8 billion, compared with a loss of $6.68 billion a year earlier, according to the statement. That was above the average estimate of $2.13 billion in a Bloomberg poll of 19 analysts.\nHaving surpassed its net debt target of $35 billion in the first quarter, BP said it would return at least 60% of surplus cash flow to shareholders this year. If prices remain at current levels, buybacks could be “material” over the coming years, Looney said earlier this month.\nBP’s net liabilities dropped further in the period to $32.71 billion, thanks to the sale of assets. The firm has a goal of reaching $25 billion of divestments by 2025 to fund the expansion of its low-carbon business.\nBP rose over 4% in premarket trading.\n(Update: August 3, 2021 at 04:36 a.m. ET)","news_type":1},"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9912865739,"gmtCreate":1664801233721,"gmtModify":1676537510249,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/F34.SI\">$WILMAR INTERNATIONAL LIMITED(F34.SI)$</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/F34.SI\">$WILMAR INTERNATIONAL LIMITED(F34.SI)$</a><v-v data-views=\"1\"></v-v>","text":"$WILMAR INTERNATIONAL LIMITED(F34.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9912865739","isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178900538,"gmtCreate":1626777649924,"gmtModify":1703764984914,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Xpeng is the future of EV&nbsp;","listText":"Xpeng is the future of EV&nbsp;","text":"Xpeng is the future of EV","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178900538","repostId":"1173914774","repostType":4,"isVote":1,"tweetType":1,"viewCount":263,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173987635,"gmtCreate":1626600608527,"gmtModify":1703762226861,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Consider do a Sell Put Option","listText":"Consider do a Sell Put Option","text":"Consider do a Sell Put Option","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173987635","repostId":"2152336681","repostType":4,"repost":{"id":"2152336681","pubTimestamp":1626509400,"share":"https://ttm.financial/m/news/2152336681?lang=&edition=fundamental","pubTime":"2021-07-17 16:10","market":"us","language":"en","title":"Why Is Everyone Talking About Skillz Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=2152336681","media":"Motley Fool","summary":"This SPAC-backed gaming IPO remains a polarizing stock.","content":"<p><b>Skillz</b> (NYSE:SKLZ) has been a battleground stock ever since its public debut last December. The gaming service company's stock opened at $17.89 a share on the first day of trading, surged to $46.30 in February during the \"meme stock\" frenzy, and then tumbled all the way back to the mid-teens.</p>\n<p>Let's see why Skillz has attracted so much attention from the bulls and bears, and where its volatile stock could be headed.</p>\n<h2>SPACs get scrutinized</h2>\n<p>Skillz didn't go public through a traditional IPO or direct listing. Instead, it agreed to be acquired by a publicly traded SPAC (special purpose acquisition company) called <a href=\"https://laohu8.com/S/FEAC\">Flying Eagle Acquisition Corp</a>. Flying Eagle's investors received new shares of Skillz after the merger closed.</p>\n<p><img src=\"https://static.tigerbbs.com/a4bd772fc8d11dd4e55bd3ca473a0c3d\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Image source: Getty Images.</p>\n<p>SPAC-backed IPOs often attract a lot of attention and scrutiny. The bulls claim they democratize the IPO process by letting retail investors buy shares of a publicly listed SPAC before it merges with a privately held target. In theory, that process prevents institutional investors from hoarding IPO shares.</p>\n<p>The bears will point out SPACs are blank-check companies that don't have any real value unless they find a takeover target within a two-year time limit. That pressure could cause SPACs to make premature acquisitions or dress up weak businesses as strong ones. Several prolific short-sellers, including Wolfpack Research, have made similar accusations against Skillz.</p>\n<h2>The shorts vs. Cathie Wood</h2>\n<p>Wolfpack's attack on Skillz in early March, along with an opportunistic secondary stock offering at $24 a share later that month, ended its Reddit-fueled rally. But in April, the famed growth investor Cathie Wood bought shares of Skillz for two of her ARK exchange-traded funds (ETFs) and denounced Wolfpack's allegations as \"exaggerated or incorrect\" in an investor newsletter.</p>\n<p>Today, Skillz accounts for 2.08% of the <b><a href=\"https://laohu8.com/S/ARKW\">ARK Next Generation Internet ETF</a></b> (NYSEMKT:ARKW) and 1.08% of the <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a></b> (NYSEMKT:ARKK). However, Wood's support still couldn't prevent Skillz from slipping below its initial opening price over the following months.</p>\n<h2>Skillz's business model</h2>\n<p>Skillz's online platform hosts multiplayer games and tournaments for other companies. The bulls believe this approach is disruptive since it enables smaller game developers to easily integrate multiplayer and competitive features without building those services from scratch.</p>\n<p>Skillz's growth rates support that thesis. Its revenue rose 92% to $230 million in 2020, and it expects 63% growth this year. Analysts expect its revenue to rise another 46% to $551 million in fiscal 2022.</p>\n<p>However, Skillz's net loss widened from $24 million in 2019 to $122 million in 2020, and analysts expect it to remain unprofitable for the foreseeable future. Skillz's losses raise red flags since it already retains a 50% cut of all revenue from its hosted games. Most other mobile app stores only retain a 15%-30% cut of an app's earned revenue, so Skillz doesn't have much room to raise its rates.</p>\n<p>Skillz also relied on just three games from two studios (Big Run and Tether) for 79% of its revenue in 2020. Its total monthly active users (MAUs) grew just 4% year over year to 2.7 million during the first quarter of 2021. Those numbers suggest Skillz isn't as disruptive as the bulls would like to believe.</p>\n<p>On the bright side, Skillz's number of paid MAUs rose 81% to 467,000 during the quarter, its average revenue per paid user grew 7% to $60, and its total average revenue per user jumped 86% to $10.35.</p>\n<p>Those growth rates suggest the stickiness of Skillz's platform could lock in its top games and players even if its overall MAU growth stalls out. Those strengths could also help Skillz maintain its pricing power.</p>\n<p>Skillz also recently agreed to buy Aarki, an in-game advertising platform that reaches over 465 million MAUs. This purchase could strengthen Skillz's own digital advertising ecosystem, which monetizes the MAUs who don't participate in its paid tournaments, and attract more mobile game developers.</p>\n<h2>Is Skillz a bargain?</h2>\n<p>Skillz trades at 16 times this year's sales, which makes it cheaper than many other high-growth tech stocks, but that lower price-to-sales ratio reflects the company's uncertain future.</p>\n<p>I personally wouldn't buy Skillz, since its decelerating MAU growth, high fees, widening losses, and customer concentration issues are tough to ignore. However, I fully expect Skillz to remain a headline-dominating stock as the bulls and bears clash over its strengths and weaknesses.</p>","source":"fool_stock","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>Why Is Everyone Talking About Skillz 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\">\nWhy Is Everyone Talking About Skillz Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-17 16:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/07/17/why-is-everyone-talking-about-skillz-stock/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Skillz (NYSE:SKLZ) has been a battleground stock ever since its public debut last December. The gaming service company's stock opened at $17.89 a share on the first day of trading, surged to $46.30 in...</p>\n\n<a href=\"https://www.fool.com/investing/2021/07/17/why-is-everyone-talking-about-skillz-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SKLZ":"Skillz Inc"},"source_url":"https://www.fool.com/investing/2021/07/17/why-is-everyone-talking-about-skillz-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2152336681","content_text":"Skillz (NYSE:SKLZ) has been a battleground stock ever since its public debut last December. The gaming service company's stock opened at $17.89 a share on the first day of trading, surged to $46.30 in February during the \"meme stock\" frenzy, and then tumbled all the way back to the mid-teens.\nLet's see why Skillz has attracted so much attention from the bulls and bears, and where its volatile stock could be headed.\nSPACs get scrutinized\nSkillz didn't go public through a traditional IPO or direct listing. Instead, it agreed to be acquired by a publicly traded SPAC (special purpose acquisition company) called Flying Eagle Acquisition Corp. Flying Eagle's investors received new shares of Skillz after the merger closed.\n\nImage source: Getty Images.\nSPAC-backed IPOs often attract a lot of attention and scrutiny. The bulls claim they democratize the IPO process by letting retail investors buy shares of a publicly listed SPAC before it merges with a privately held target. In theory, that process prevents institutional investors from hoarding IPO shares.\nThe bears will point out SPACs are blank-check companies that don't have any real value unless they find a takeover target within a two-year time limit. That pressure could cause SPACs to make premature acquisitions or dress up weak businesses as strong ones. Several prolific short-sellers, including Wolfpack Research, have made similar accusations against Skillz.\nThe shorts vs. Cathie Wood\nWolfpack's attack on Skillz in early March, along with an opportunistic secondary stock offering at $24 a share later that month, ended its Reddit-fueled rally. But in April, the famed growth investor Cathie Wood bought shares of Skillz for two of her ARK exchange-traded funds (ETFs) and denounced Wolfpack's allegations as \"exaggerated or incorrect\" in an investor newsletter.\nToday, Skillz accounts for 2.08% of the ARK Next Generation Internet ETF (NYSEMKT:ARKW) and 1.08% of the ARK Innovation ETF (NYSEMKT:ARKK). However, Wood's support still couldn't prevent Skillz from slipping below its initial opening price over the following months.\nSkillz's business model\nSkillz's online platform hosts multiplayer games and tournaments for other companies. The bulls believe this approach is disruptive since it enables smaller game developers to easily integrate multiplayer and competitive features without building those services from scratch.\nSkillz's growth rates support that thesis. Its revenue rose 92% to $230 million in 2020, and it expects 63% growth this year. Analysts expect its revenue to rise another 46% to $551 million in fiscal 2022.\nHowever, Skillz's net loss widened from $24 million in 2019 to $122 million in 2020, and analysts expect it to remain unprofitable for the foreseeable future. Skillz's losses raise red flags since it already retains a 50% cut of all revenue from its hosted games. Most other mobile app stores only retain a 15%-30% cut of an app's earned revenue, so Skillz doesn't have much room to raise its rates.\nSkillz also relied on just three games from two studios (Big Run and Tether) for 79% of its revenue in 2020. Its total monthly active users (MAUs) grew just 4% year over year to 2.7 million during the first quarter of 2021. Those numbers suggest Skillz isn't as disruptive as the bulls would like to believe.\nOn the bright side, Skillz's number of paid MAUs rose 81% to 467,000 during the quarter, its average revenue per paid user grew 7% to $60, and its total average revenue per user jumped 86% to $10.35.\nThose growth rates suggest the stickiness of Skillz's platform could lock in its top games and players even if its overall MAU growth stalls out. Those strengths could also help Skillz maintain its pricing power.\nSkillz also recently agreed to buy Aarki, an in-game advertising platform that reaches over 465 million MAUs. This purchase could strengthen Skillz's own digital advertising ecosystem, which monetizes the MAUs who don't participate in its paid tournaments, and attract more mobile game developers.\nIs Skillz a bargain?\nSkillz trades at 16 times this year's sales, which makes it cheaper than many other high-growth tech stocks, but that lower price-to-sales ratio reflects the company's uncertain future.\nI personally wouldn't buy Skillz, since its decelerating MAU growth, high fees, widening losses, and customer concentration issues are tough to ignore. However, I fully expect Skillz to remain a headline-dominating stock as the bulls and bears clash over its strengths and weaknesses.","news_type":1},"isVote":1,"tweetType":1,"viewCount":141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916806280,"gmtCreate":1664548672140,"gmtModify":1676537475723,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/F34.SI\">$WILMAR INTERNATIONAL LIMITED(F34.SI)$</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/F34.SI\">$WILMAR INTERNATIONAL LIMITED(F34.SI)$</a><v-v data-views=\"1\"></v-v>","text":"$WILMAR INTERNATIONAL LIMITED(F34.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916806280","isVote":1,"tweetType":1,"viewCount":299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805563567,"gmtCreate":1627892339659,"gmtModify":1703497314110,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Nano-X company background and product data information raise red flags","listText":"Nano-X company background and product data information raise red flags","text":"Nano-X company background and product data information raise red flags","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805563567","repostId":"2156169749","repostType":4,"repost":{"id":"2156169749","pubTimestamp":1627864728,"share":"https://ttm.financial/m/news/2156169749?lang=&edition=fundamental","pubTime":"2021-08-02 08:38","market":"us","language":"en","title":"Missed Out on the FAANG Stocks? Consider Buying These PfANG Stocks Instead.","url":"https://stock-news.laohu8.com/highlight/detail?id=2156169749","media":"Motley Fool","summary":"There's both rhyme and reason for checking out these four stocks.","content":"<p>What's worse than the fear of missing out? I'd put the fear of having already missed out high on the list. There's nothing you can do once an opportunity is gone.</p>\n<p>Some investors might be feeling as if they've already missed out on the FAANG stocks. After all, four of them --&nbsp; <b>Apple</b> (NASDAQ:AAPL), <b>Alphabet</b> (NASDAQ:GOOG) (NASDAQ:GOOGL) (whose Google unit is the \"G\" in FAANG), <b>Amazon.com</b> (NASDAQ:AMZN), and&nbsp;<b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> (NASDAQ:FB) -- rank among the top 10 biggest companies in the world. Only&nbsp;<b>Netflix</b> (NASDAQ:NFLX) lags behind, but the streaming company still has a market cap of close to $230 billion.</p>\n<p>If you're concerned that you've missed out on a great opportunity with the FAANG stocks, don't worry. Consider buying these PfANG stocks instead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5160b68a97ec192124c08475ad420b61\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Introducing the PfANG stocks</h2>\n<p>Aside from the fact that they're all now huge, the FAANG stocks have something else in common: They're all tech stocks. While technology remains a hot area for investors, the healthcare sector also offers tremendous growth prospects. Each of the PfANG stocks ranks as a leader in healthcare, albeit in very different ways.</p>\n<p><b>Pfizer</b> (NYSE:PFE) contributes the \"Pf\" in PfANG. The company is by far the best known of the group. Pfizer, of course, markets a blockbuster COVID-19 vaccine along with its partner, <b>BioNTech</b>. The company also has a product lineup that's loaded with other successful drugs and vaccines.</p>\n<p><b>Align Technology </b>(NASDAQ:ALGN) pioneered the clear dental aligner market. The company's Invisalign clear aligners have been used to straighten the teeth of nearly 11 million patients so far. Align also markets intraoral scanners used to create 3D images of teeth.</p>\n<p><b>Nano-X Imaging</b> (NASDAQ:NNOX) expects to disrupt the medical imaging market with its digital X-ray devices. The company recently filed for U.S. Food and Drug Administration (FDA) clearance of the first version of its multisource digital system.</p>\n<p><b>Guardant Health</b> (NASDAQ:GH) is a leader in developing liquid biopsy tests for cancer. The company's first products on the market help match patients with the best cancer therapy and enable drugmakers to develop new therapies.</p>\n<h2>What sets these stocks apart</h2>\n<p>A catchy name that sounds just like FAANG doesn't make these four stocks great picks, of course. However, there are two specific things that set these stocks apart:</p>\n<ol>\n <li>They all target a massive potential market.</li>\n <li>They all have a head start in that market.</li>\n</ol>\n<p>Pfizer has been around a long time and is by far the biggest of the PfANG stocks. The company still has multiple growth opportunities, though. One of the most significant of these is in messenger RNA (mRNA) therapies and vaccines.</p>\n<p>The company continues to work closely with BioNTech on its mRNA COVID-19 vaccine program and an mRNA flu vaccine. Pfizer plans to move forward with mRNA development on its own as well.</p>\n<p>CEO Albert Bourla stated in the company's Q2 conference call last week that Pfizer's strategy is to \"advance and unlock the full potential of mRNA.\" This strategy includes expanding its COVID-19 vaccine franchise and developing mRNA candidates targeting other infectious diseases, rare diseases, and cancer.</p>\n<p>Align Technology has generated impressive growth in recent years. The company, though, still has only captured 11% of the addressable market for clear aligners.</p>\n<p>Nano-X doesn't plan to compete for market share in the $21 billion medical imaging market; it fully intends to expand that market. The company's mobile devices cost only a fraction of current X-ray systems. <a href=\"https://laohu8.com/S/TWOA.U\">Two</a>-thirds of the world population have no meaningful access to medical imaging. Nano-X's opportunity is wide open.</p>\n<p>Guardant Health targets a $70 billion-plus potential market in cancer therapy selection, recurrence monitoring, and early screening. There are other companies going after this market as well. However, Guardant stands as <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the leaders and already has strong adoption for its initial liquid biopsy products.</p>\n<h2>Still some bite left in the FAANG stocks, too</h2>\n<p>I think that the PfANG stocks could deliver market-beating returns over the long term. But you don't really need to worry about having already missed out on the FAANG stocks.</p>\n<p>Augmented reality and virtual reality present big growth opportunities for Facebook and Apple. Artificial intelligence should serve as a growth driver for both of these stocks as well as Alphabet. Netflix is moving into gaming. These FAANG stocks should still have some bite left in them.</p>","source":"fool_stock","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>Missed Out on the FAANG Stocks? Consider Buying These PfANG Stocks Instead.</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\">\nMissed Out on the FAANG Stocks? Consider Buying These PfANG Stocks Instead.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-02 08:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/01/missed-out-on-the-faang-stocks-consider-buying-the/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What's worse than the fear of missing out? I'd put the fear of having already missed out high on the list. There's nothing you can do once an opportunity is gone.\nSome investors might be feeling as if...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/01/missed-out-on-the-faang-stocks-consider-buying-the/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NNOX":"Nano-X Imaging Ltd.","GH":"Guardant Health Inc.","ALGN":"艾利科技","GOOG":"谷歌","PFE":"辉瑞","AAPL":"苹果","AMZN":"亚马逊","GOOGL":"谷歌A","NFLX":"奈飞"},"source_url":"https://www.fool.com/investing/2021/08/01/missed-out-on-the-faang-stocks-consider-buying-the/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156169749","content_text":"What's worse than the fear of missing out? I'd put the fear of having already missed out high on the list. There's nothing you can do once an opportunity is gone.\nSome investors might be feeling as if they've already missed out on the FAANG stocks. After all, four of them --  Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) (whose Google unit is the \"G\" in FAANG), Amazon.com (NASDAQ:AMZN), and Facebook (NASDAQ:FB) -- rank among the top 10 biggest companies in the world. Only Netflix (NASDAQ:NFLX) lags behind, but the streaming company still has a market cap of close to $230 billion.\nIf you're concerned that you've missed out on a great opportunity with the FAANG stocks, don't worry. Consider buying these PfANG stocks instead.\nImage source: Getty Images.\nIntroducing the PfANG stocks\nAside from the fact that they're all now huge, the FAANG stocks have something else in common: They're all tech stocks. While technology remains a hot area for investors, the healthcare sector also offers tremendous growth prospects. Each of the PfANG stocks ranks as a leader in healthcare, albeit in very different ways.\nPfizer (NYSE:PFE) contributes the \"Pf\" in PfANG. The company is by far the best known of the group. Pfizer, of course, markets a blockbuster COVID-19 vaccine along with its partner, BioNTech. The company also has a product lineup that's loaded with other successful drugs and vaccines.\nAlign Technology (NASDAQ:ALGN) pioneered the clear dental aligner market. The company's Invisalign clear aligners have been used to straighten the teeth of nearly 11 million patients so far. Align also markets intraoral scanners used to create 3D images of teeth.\nNano-X Imaging (NASDAQ:NNOX) expects to disrupt the medical imaging market with its digital X-ray devices. The company recently filed for U.S. Food and Drug Administration (FDA) clearance of the first version of its multisource digital system.\nGuardant Health (NASDAQ:GH) is a leader in developing liquid biopsy tests for cancer. The company's first products on the market help match patients with the best cancer therapy and enable drugmakers to develop new therapies.\nWhat sets these stocks apart\nA catchy name that sounds just like FAANG doesn't make these four stocks great picks, of course. However, there are two specific things that set these stocks apart:\n\nThey all target a massive potential market.\nThey all have a head start in that market.\n\nPfizer has been around a long time and is by far the biggest of the PfANG stocks. The company still has multiple growth opportunities, though. One of the most significant of these is in messenger RNA (mRNA) therapies and vaccines.\nThe company continues to work closely with BioNTech on its mRNA COVID-19 vaccine program and an mRNA flu vaccine. Pfizer plans to move forward with mRNA development on its own as well.\nCEO Albert Bourla stated in the company's Q2 conference call last week that Pfizer's strategy is to \"advance and unlock the full potential of mRNA.\" This strategy includes expanding its COVID-19 vaccine franchise and developing mRNA candidates targeting other infectious diseases, rare diseases, and cancer.\nAlign Technology has generated impressive growth in recent years. The company, though, still has only captured 11% of the addressable market for clear aligners.\nNano-X doesn't plan to compete for market share in the $21 billion medical imaging market; it fully intends to expand that market. The company's mobile devices cost only a fraction of current X-ray systems. Two-thirds of the world population have no meaningful access to medical imaging. Nano-X's opportunity is wide open.\nGuardant Health targets a $70 billion-plus potential market in cancer therapy selection, recurrence monitoring, and early screening. There are other companies going after this market as well. However, Guardant stands as one of the leaders and already has strong adoption for its initial liquid biopsy products.\nStill some bite left in the FAANG stocks, too\nI think that the PfANG stocks could deliver market-beating returns over the long term. But you don't really need to worry about having already missed out on the FAANG stocks.\nAugmented reality and virtual reality present big growth opportunities for Facebook and Apple. Artificial intelligence should serve as a growth driver for both of these stocks as well as Alphabet. Netflix is moving into gaming. These FAANG stocks should still have some bite left in them.","news_type":1},"isVote":1,"tweetType":1,"viewCount":596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178074060,"gmtCreate":1626777353150,"gmtModify":1703764980711,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"Xpeng is the future of EV&nbsp;","listText":"Xpeng is the future of EV&nbsp;","text":"Xpeng is the future of EV","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/178074060","repostId":"1173914774","repostType":4,"repost":{"id":"1173914774","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626769702,"share":"https://ttm.financial/m/news/1173914774?lang=&edition=fundamental","pubTime":"2021-07-20 16:28","market":"us","language":"en","title":"EV stocks rally in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1173914774","media":"Tiger Newspress","summary":"(July 20) EV stocks rally in premarket trading.\nTesla-Tesla Motors. saw registrations of its Chinese","content":"<p>(July 20)&nbsp;EV stocks rally in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3ccd5129443256c5c60c6800ed8b08af\" tg-width=\"302\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><b>Tesla</b>-<a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>.&nbsp;saw registrations of its Chinese-made cars climb again last month as promotions toward the quarter-end helped offset a string of negative press around customer complaints and quality concerns.</p>\n<p>Registrations of Model 3 sedans and Model Y sports utility vehicles made at Tesla’s Shanghai factory totaled 28,508 units in June, a 29% increase from May and more than double the figure in April, data from <a href=\"https://laohu8.com/S/CAAS\">China</a> Automotive <a href=\"https://laohu8.com/S/III\">Information</a> Net show. Model 3 registrations rebounded to 16,995, while Model Y’s hit 11,513, a 10% drop from May.</p>\n<p><b>Nio</b>-Days&nbsp;ago,&nbsp;<a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> subsidiary buys stake in chipmaker amid crippling global semiconductor shortage.</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>EV stocks rally in premarket trading</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\">\nEV stocks rally in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-20 16:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(July 20)&nbsp;EV stocks rally in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3ccd5129443256c5c60c6800ed8b08af\" tg-width=\"302\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><b>Tesla</b>-<a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>.&nbsp;saw registrations of its Chinese-made cars climb again last month as promotions toward the quarter-end helped offset a string of negative press around customer complaints and quality concerns.</p>\n<p>Registrations of Model 3 sedans and Model Y sports utility vehicles made at Tesla’s Shanghai factory totaled 28,508 units in June, a 29% increase from May and more than double the figure in April, data from <a href=\"https://laohu8.com/S/CAAS\">China</a> Automotive <a href=\"https://laohu8.com/S/III\">Information</a> Net show. Model 3 registrations rebounded to 16,995, while Model Y’s hit 11,513, a 10% drop from May.</p>\n<p><b>Nio</b>-Days&nbsp;ago,&nbsp;<a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> subsidiary buys stake in chipmaker amid crippling global semiconductor shortage.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","LI":"理想汽车","NIO":"蔚来","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173914774","content_text":"(July 20) EV stocks rally in premarket trading.\nTesla-Tesla Motors. saw registrations of its Chinese-made cars climb again last month as promotions toward the quarter-end helped offset a string of negative press around customer complaints and quality concerns.\nRegistrations of Model 3 sedans and Model Y sports utility vehicles made at Tesla’s Shanghai factory totaled 28,508 units in June, a 29% increase from May and more than double the figure in April, data from China Automotive Information Net show. Model 3 registrations rebounded to 16,995, while Model Y’s hit 11,513, a 10% drop from May.\nNio-Days ago, NIO Inc. subsidiary buys stake in chipmaker amid crippling global semiconductor shortage.","news_type":1},"isVote":1,"tweetType":1,"viewCount":414,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":331057553395864,"gmtCreate":1721832149384,"gmtModify":1721832158153,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GOOGL\">$Alphabet(GOOGL)$&nbsp;</a><v-v data-views=\"1\"></v-v> opportunity to DCA","listText":"<a href=\"https://ttm.financial/S/GOOGL\">$Alphabet(GOOGL)$&nbsp;</a><v-v data-views=\"1\"></v-v> opportunity to DCA","text":"$Alphabet(GOOGL)$ opportunity to DCA","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/331057553395864","isVote":1,"tweetType":1,"viewCount":273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":284025626660912,"gmtCreate":1710358120324,"gmtModify":1710358123873,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/S58.SI\">$SATS LTD.(S58.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/S58.SI\">$SATS LTD.(S58.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","text":"$SATS LTD.(S58.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/284025626660912","isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944139694,"gmtCreate":1681737781719,"gmtModify":1681737784453,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/S58.SI\">$SATS LTD.(S58.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/S58.SI\">$SATS LTD.(S58.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$SATS LTD.(S58.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944139694","isVote":1,"tweetType":1,"viewCount":469,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965366219,"gmtCreate":1669896880731,"gmtModify":1676538265492,"author":{"id":"3583811401087980","authorId":"3583811401087980","name":"DLIM","avatar":"https://static.tigerbbs.com/140bf807c414ea069de5f87b2b1509cd","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3583811401087980","authorIdStr":"3583811401087980"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/00700\">$TENCENT(00700)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/00700\">$TENCENT(00700)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$TENCENT(00700)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965366219","isVote":1,"tweetType":1,"viewCount":413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}