Christoooo personal page - To The Moon

Christoooo

Christoooo

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2022-04-30

What is your fav stocks now to buy man, I think Apple, Microsoft are goood stock to buy as of today and maybe a few days later too. What are your thoughts of Amazon and Google stocks and which stock should I dollar cost average into as of now in a highly volatile and unpredictable environment that I find it hard to act

2022-05-23

//@Newnew:Hi//@robot1234:The global business elite will gather in the mountains of Davos, Switzerland this week amid a backdrop of turbulent markets and an uncertain economic outlook. For the first time in over two years, CEOs, politicians, and billionaires are set to congregate at the World Economic Forum following a pandemic-induced hiatus. Russia’s war in Ukraine, the COVID-19 pandemic, and worries of economic gloom will be among the key topics discussed, as the world's top leaders face the most uncertain outlook for global cooperation in years. A top-of-mind issue for many Davos attendees will no doubt be recent turbulence in financial markets, as the S&P 500 just completed

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That made the biggest discount carrier an unhappy outlier in the US industry, where recovery was the watchword after a holiday weekend of travel tie-ups. The U.S. Transportation Department (USDOT) said late on Monday it would examine the large number of Southwest Airlines cancelled and delayed flights in recent days to determine if they were in the airline&#39;s control, calling them &#34;unacceptable.&#34; Southwest Airlines shares dropped 2.8% in premarket trading.</li></ul><ul><li><b><a href=\"https://laohu8.com/S/MTCR\">Metacrine, Inc.</a></b> and <b><a href=\"https://laohu8.com/S/EQ\">Equillium, Inc.</a></b> mutually agreed to terminate definitive merger agreement. Metacrine shares jumped 5.4% to $0.4551 in after-hours trading, while Equillium shares dropped 6.3% to close at $0.89 on Friday.</li><li><b><a href=\"https://laohu8.com/S/OGEN\">Oragenics, Inc.</a></b> disclosed a 1-for-60 reverse stock split. Oragenics shares slid 6.8% in premarket trading.</li></ul><ul><li><b><a href=\"https://laohu8.com/S/PT\">Pintec Technology Holdings Limited</a></b> reported that its total revenues dropped by 56.53% year-over-year to RMB39.82 million ($5.93 million) for the first half of 2022. Its net loss per share came in at RMB0.41 (US$0.06). Pintec Technology shares dropped 5.9% to close at $0.46 on Friday.</li><li><b><a href=\"https://laohu8.com/S/PTRA\">Proterra Inc.</a></b> filed for mixed shelf of up to $500 million. Proterra shares declined 2.7% in premarket trading.</li></ul><p></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>NIO, AMC, APE, Southwest Airlines and More: U.S. Stocks To Watch</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\">\nNIO, AMC, APE, Southwest Airlines and More: U.S. Stocks To Watch\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\">2022-12-27 17:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li><b><a href=\"https://laohu8.com/S/NIO\">NIO</a></b> expects to deliver 38,500 to 39,500 vehicles in the fourth quarter of 2022, adjusted from previously released outlook of 43,000 to 48,000 vehicles. NIO shares dropped 1% in premarket trading.</li></ul><ul><li><b><a href=\"https://laohu8.com/S/AMC\">AMC</a></b> shares continued to dropped 5.9% while <b><a href=\"https://laohu8.com/S/APE\">APE</a></b> soared 19% in premarket trading as AMC Entertainment announced $110 million equity capital raise, a $100 million debt for equity exchange, and a proposed vote to convert AMC Preferred Equity (“APE”) units into AMC common shares and implement a reverse stock split.</li></ul><ul><li>The trips wiped off the books Monday meant that <b><a href=\"https://laohu8.com/S/LUV\">Southwest</a></b> was responsible for almost three-fourths of cancellations in the US. That made the biggest discount carrier an unhappy outlier in the US industry, where recovery was the watchword after a holiday weekend of travel tie-ups. The U.S. Transportation Department (USDOT) said late on Monday it would examine the large number of Southwest Airlines cancelled and delayed flights in recent days to determine if they were in the airline&#39;s control, calling them &#34;unacceptable.&#34; Southwest Airlines shares dropped 2.8% in premarket trading.</li></ul><ul><li><b><a href=\"https://laohu8.com/S/MTCR\">Metacrine, Inc.</a></b> and <b><a href=\"https://laohu8.com/S/EQ\">Equillium, Inc.</a></b> mutually agreed to terminate definitive merger agreement. Metacrine shares jumped 5.4% to $0.4551 in after-hours trading, while Equillium shares dropped 6.3% to close at $0.89 on Friday.</li><li><b><a href=\"https://laohu8.com/S/OGEN\">Oragenics, Inc.</a></b> disclosed a 1-for-60 reverse stock split. Oragenics shares slid 6.8% in premarket trading.</li></ul><ul><li><b><a href=\"https://laohu8.com/S/PT\">Pintec Technology Holdings Limited</a></b> reported that its total revenues dropped by 56.53% year-over-year to RMB39.82 million ($5.93 million) for the first half of 2022. Its net loss per share came in at RMB0.41 (US$0.06). Pintec Technology shares dropped 5.9% to close at $0.46 on Friday.</li><li><b><a href=\"https://laohu8.com/S/PTRA\">Proterra Inc.</a></b> filed for mixed shelf of up to $500 million. Proterra shares declined 2.7% in premarket trading.</li></ul><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","EQ":"Equillium Inc.","OGEN":"Oragenics Inc.","APE":"AMC Entertainment Preferred","AMC":"AMC院线","PTRA":"Proterra Inc.","PT":"品钛","LUV":"西南航空"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191313253","content_text":"NIO expects to deliver 38,500 to 39,500 vehicles in the fourth quarter of 2022, adjusted from previously released outlook of 43,000 to 48,000 vehicles. NIO shares dropped 1% in premarket trading.AMC shares continued to dropped 5.9% while APE soared 19% in premarket trading as AMC Entertainment announced $110 million equity capital raise, a $100 million debt for equity exchange, and a proposed vote to convert AMC Preferred Equity (“APE”) units into AMC common shares and implement a reverse stock split.The trips wiped off the books Monday meant that Southwest was responsible for almost three-fourths of cancellations in the US. That made the biggest discount carrier an unhappy outlier in the US industry, where recovery was the watchword after a holiday weekend of travel tie-ups. The U.S. Transportation Department (USDOT) said late on Monday it would examine the large number of Southwest Airlines cancelled and delayed flights in recent days to determine if they were in the airline's control, calling them \"unacceptable.\" Southwest Airlines shares dropped 2.8% in premarket trading.Metacrine, Inc. and Equillium, Inc. mutually agreed to terminate definitive merger agreement. Metacrine shares jumped 5.4% to $0.4551 in after-hours trading, while Equillium shares dropped 6.3% to close at $0.89 on Friday.Oragenics, Inc. disclosed a 1-for-60 reverse stock split. Oragenics shares slid 6.8% in premarket trading.Pintec Technology Holdings Limited reported that its total revenues dropped by 56.53% year-over-year to RMB39.82 million ($5.93 million) for the first half of 2022. Its net loss per share came in at RMB0.41 (US$0.06). Pintec Technology shares dropped 5.9% to close at $0.46 on Friday.Proterra Inc. filed for mixed shelf of up to $500 million. Proterra shares declined 2.7% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":249,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926791053,"gmtCreate":1671628032272,"gmtModify":1676538565797,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"J","listText":"J","text":"J","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9926791053","repostId":"2292433763","repostType":4,"repost":{"id":"2292433763","pubTimestamp":1671610356,"share":"https://ttm.financial/m/news/2292433763?lang=&edition=fundamental","pubTime":"2022-12-21 16:12","market":"us","language":"en","title":"2 Growth Stocks That Could Help Make You a Fortune","url":"https://stock-news.laohu8.com/highlight/detail?id=2292433763","media":"Motley Fool","summary":"These companies are booking wins even in the current environment.","content":"<html><head></head><body><p>Most investors won&#39;t get rich in the stock market overnight. The good news is, as a long-term investor, you don&#39;t need to implement complicated strategies or investing games to build a portfolio that stands the test of time.</p><p>By letting a pattern of regularly buying and adding to wonderful companies become your habit in both bear and bull environments, you participate in both the peaks and valleys of market cycles without undermining your long-term investing strategy.</p><p>On that note, let&#39;s take a look at two fantastic buy-and-hold growth stocks that can enrich your portfolio returns many times over in the years to come.</p><h2><b>1. Airbnb</b></h2><p>The travel industry has dealt with its fair share of hurdles over the last few years, and it could be in for more challenges ahead, particularly if the macro environment officially veers into a recession. <b>Airbnb</b> has managed to buck many of the trends impacting the broader travel industry. Despite the fact shares are still down roughly 45% over the past 12 months, this sell-off traces its roots back to broad investor sentiment around growth stocks rather than specific issues with the company itself.</p><p>If anything, Airbnb&#39;s recovery has left most of the wider travel industry in the dust. As many growth businesses are struggling to retain headway in the current environment, the company continues to report quarter after quarter of strong growth. Even if this was to slow down in the near term in the event of a recession, Airbnb has built a solid foundation upon which it can launch itself into future, sustained business returns.</p><p>While global travel spending is slowing as consumers fear more economic pitfalls ahead, a huge catalyst behind Airbnb&#39;s continued expansion is tied to the fact the platform caters to a wide variety of consumers and travelers. Certainly, people use Airbnb to book short-term or vacation rentals, but more and more customers are turning to the platform to locate homes they can stay in for a much longer duration. In fact, approximately one-fifth of all gross bookings processed on Airbnb&#39;s platform are derived from long-term stays, which are bookings of 28 days or longer.</p><p>Airbnb&#39;s revenue jumped 29% year over year to $2.9 billion in the most recent quarter, while its net income rose 46% from the year-ago period to $1.2 billion. The third quarter was its most profitable to date. The company has proven time and again its platform remains well positioned to grow.</p><p>From business travelers and tourists to digital nomads, Airbnb&#39;s platform has something for everyone. It&#39;s this versatility, not to mention the vital stream of income that Airbnb provides to its more than four million hosts globally, that can fuel the consistent demand the company needs to grow in the near term and for many years to come.</p><h2><b>2. Shopify </b></h2><p><b>Shopify</b> isn&#39;t the the investor favorite that it was in the earlier days of the pandemic, but overlooking the stock due to its near-term challenges could be a mistake in the long run. Shares of Shopify are trading down by about 74% from the beginning of this year, and this has occurred for a few different reasons.</p><p>Investors have understandably been concerned about the company&#39;s turn into GAAP unprofitability in recent quarters. And as investors shy away from growth-oriented businesses with less capital flowing into the markets and macroeconomic conditions presenting elevated risk, this has also put severe downward pressure on the stock.</p><p>As always, it&#39;s important to look at the reason behind a stock&#39;s movements before you determine whether or not it&#39;s a wise addition to your portfolio. As for Shopify&#39;s recent losses, this goes back broadly to its continual pattern of aggressively investing in its business growth and the heavy use of stock-based compensation. In the first nine months of 2022 alone, Shopify spent $932 million on sales and marketing, compared to $626 million in the same period last year.</p><p>It&#39;s also worth noting that Shopify&#39;s results have been affected by its portfolio of equity investments. The company has large stakes in heavily beaten-down tech stocks <b>Affirm</b> and <b>Global-e Online</b>, both of which it also has long-standing partnerships with. And just like individual investors have seen many equity investments decline over the last year, the same can be said of Shopify. Still, the company is making progress on a multitude of fronts. Shopify&#39;s addition of Deliverr to its fulfillment network earlier this year is key to enable its long-term growth, retain and expand its merchant network, and reduce exposure to the impact of future supply chain disruptions.</p><p>The platform remains a go-to for business owners around the world to do everything from launch a brand from scratch to seamlessly integrate an online store with a brick-and-mortar presence. In the first nine months of 2022, Shopify&#39;s top line jumped 20% year over year to $3.9 billion. Meanwhile, Shopify had $4.9 billion in cash and investments on its balance sheet at the end of the period.</p><p>While Shopify&#39;s spending to build out its business will weigh on its bottom line in the near term, this can also position it for continued growth and enable it to retain its competitiveness over the long term. This ultimately bodes well for investors who take a buy-and-hold approach to the stock.</p></body></html>","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>2 Growth Stocks That Could Help Make You a Fortune</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\">\n2 Growth Stocks That Could Help Make You a Fortune\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-21 16:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/12/20/2-growth-stocks-that-could-help-make-you-a-fortune/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Most investors won't get rich in the stock market overnight. The good news is, as a long-term investor, you don't need to implement complicated strategies or investing games to build a portfolio that ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/20/2-growth-stocks-that-could-help-make-you-a-fortune/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SHOP":"Shopify Inc","BK4535":"淡马锡持仓","BK4142":"酒店、度假村与豪华游轮","BK4561":"索罗斯持仓","BK4505":"高瓴资本持仓","BK4116":"互联网服务与基础架构","BK4528":"SaaS概念","BK4532":"文艺复兴科技持仓","BK4566":"资本集团","BK4548":"巴美列捷福持仓","ABNB":"爱彼迎","BK4551":"寇图资本持仓","BK4524":"宅经济概念"},"source_url":"https://www.fool.com/investing/2022/12/20/2-growth-stocks-that-could-help-make-you-a-fortune/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2292433763","content_text":"Most investors won't get rich in the stock market overnight. The good news is, as a long-term investor, you don't need to implement complicated strategies or investing games to build a portfolio that stands the test of time.By letting a pattern of regularly buying and adding to wonderful companies become your habit in both bear and bull environments, you participate in both the peaks and valleys of market cycles without undermining your long-term investing strategy.On that note, let's take a look at two fantastic buy-and-hold growth stocks that can enrich your portfolio returns many times over in the years to come.1. AirbnbThe travel industry has dealt with its fair share of hurdles over the last few years, and it could be in for more challenges ahead, particularly if the macro environment officially veers into a recession. Airbnb has managed to buck many of the trends impacting the broader travel industry. Despite the fact shares are still down roughly 45% over the past 12 months, this sell-off traces its roots back to broad investor sentiment around growth stocks rather than specific issues with the company itself.If anything, Airbnb's recovery has left most of the wider travel industry in the dust. As many growth businesses are struggling to retain headway in the current environment, the company continues to report quarter after quarter of strong growth. Even if this was to slow down in the near term in the event of a recession, Airbnb has built a solid foundation upon which it can launch itself into future, sustained business returns.While global travel spending is slowing as consumers fear more economic pitfalls ahead, a huge catalyst behind Airbnb's continued expansion is tied to the fact the platform caters to a wide variety of consumers and travelers. Certainly, people use Airbnb to book short-term or vacation rentals, but more and more customers are turning to the platform to locate homes they can stay in for a much longer duration. In fact, approximately one-fifth of all gross bookings processed on Airbnb's platform are derived from long-term stays, which are bookings of 28 days or longer.Airbnb's revenue jumped 29% year over year to $2.9 billion in the most recent quarter, while its net income rose 46% from the year-ago period to $1.2 billion. The third quarter was its most profitable to date. The company has proven time and again its platform remains well positioned to grow.From business travelers and tourists to digital nomads, Airbnb's platform has something for everyone. It's this versatility, not to mention the vital stream of income that Airbnb provides to its more than four million hosts globally, that can fuel the consistent demand the company needs to grow in the near term and for many years to come.2. Shopify Shopify isn't the the investor favorite that it was in the earlier days of the pandemic, but overlooking the stock due to its near-term challenges could be a mistake in the long run. Shares of Shopify are trading down by about 74% from the beginning of this year, and this has occurred for a few different reasons.Investors have understandably been concerned about the company's turn into GAAP unprofitability in recent quarters. And as investors shy away from growth-oriented businesses with less capital flowing into the markets and macroeconomic conditions presenting elevated risk, this has also put severe downward pressure on the stock.As always, it's important to look at the reason behind a stock's movements before you determine whether or not it's a wise addition to your portfolio. As for Shopify's recent losses, this goes back broadly to its continual pattern of aggressively investing in its business growth and the heavy use of stock-based compensation. In the first nine months of 2022 alone, Shopify spent $932 million on sales and marketing, compared to $626 million in the same period last year.It's also worth noting that Shopify's results have been affected by its portfolio of equity investments. The company has large stakes in heavily beaten-down tech stocks Affirm and Global-e Online, both of which it also has long-standing partnerships with. And just like individual investors have seen many equity investments decline over the last year, the same can be said of Shopify. Still, the company is making progress on a multitude of fronts. Shopify's addition of Deliverr to its fulfillment network earlier this year is key to enable its long-term growth, retain and expand its merchant network, and reduce exposure to the impact of future supply chain disruptions.The platform remains a go-to for business owners around the world to do everything from launch a brand from scratch to seamlessly integrate an online store with a brick-and-mortar presence. In the first nine months of 2022, Shopify's top line jumped 20% year over year to $3.9 billion. Meanwhile, Shopify had $4.9 billion in cash and investments on its balance sheet at the end of the period.While Shopify's spending to build out its business will weigh on its bottom line in the near term, this can also position it for continued growth and enable it to retain its competitiveness over the long term. This ultimately bodes well for investors who take a buy-and-hold approach to the stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926674997,"gmtCreate":1671550851319,"gmtModify":1676538554337,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926674997","repostId":"2292331485","repostType":4,"repost":{"id":"2292331485","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1671549920,"share":"https://ttm.financial/m/news/2292331485?lang=&edition=fundamental","pubTime":"2022-12-20 23:25","market":"fut","language":"en","title":"Cryptocurrencies at Crossroads After Annus Horribilis","url":"https://stock-news.laohu8.com/highlight/detail?id=2292331485","media":"Reuters","summary":"SINGAPORE, Dec 20 (Reuters) - To borrow from Britain's Queen Elizabeth, 2022 is not a year on which ","content":"<html><head></head><body><p>SINGAPORE, Dec 20 (Reuters) - To borrow from Britain&#39;s Queen Elizabeth, 2022 is not a year on which the cryptocurrency world shall look back with undiluted pleasure.</p><p>Crashes, contagion, collapses came in such quick succession that investors were, towards the end of the year, asking serious existential questions.</p><p>After all, the largest cryptocurrency, bitcoin , has not kept its head above water for more than a week at a time, and is down about three-quarters from last November&#39;s $69,000 peak.</p><p>The market value of the 22,000-odd tokens and coins is now at less than a third of the peak $3 trillion in November 2021, and many of them are comatose, if not outright dead.</p><p>That&#39;s been a brutal reality check for an industry that kicked 2022 off with dreams of widespread mainstream institutional adoption, of bitcoin supplanting even gold as the world&#39;s inflation hedge, as well as endorsements from the likes of Tesla Inc chief Elon Musk and the wild celebration of billion-dollar non-fungible tokens.</p><p>Not only did cryptocurrencies get slammed by the Fed&#39;s uber hawkishness, their slide also triggered the crash of a stablecoin called TerraUSD, that then wrought a &#39;Lehman moment&#39; as funds and brokers such as Celsius and Voyager went bankrupt.</p><p>What some saw as the final nail in the crypto coffin was the collapse of Sam Bankman-Fried&#39;s FTX exchange last month.</p><h2>WHY IT MATTERS</h2><p>Unlike in 2017, when bitcoin crashed just as spectacularly, there are far fewer diehard crypto buffs predicting a bounce this time.</p><p>Rather, 2022 has become the &#34;I-told-you-so&#34; case for regulators, who&#39;ve largely maintained an arm&#39;s length from the crypto world or even banned trading in cryptocurrencies.</p><p>The European Central Bank reckons bitcoin&#39;s modest bounce this month is an &#34;artificially induced last gasp before the road to irrelevance&#34;.</p><p>Indeed, the one extenuating factor this year has been how mainstream finance has mostly escaped contagion. The excesses, the uncontrolled lending and fudging of billions of dollars have happened overwhelmingly within the crypto ecosystem.</p><p>At the same time, the idea that decentralised finance and private crypto coins can operate in the shadows of the traditional banking system, and thrive, now appears delusional.</p><p>As retail and institutional investors lose trust in crypto operators, a host of policymaker voices and even crypto barons are joining U.S. SEC Chair Gary Gensler in calling for regulation.</p><h2>WHAT DOES 2023 HOLD?</h2><p>UBS strategist James Malcolm points to the increasing correlation between cryptocurrencies and micro-cap U.S. stocks as testament to how bitcoin and other tokens could survive on the fringes, as a niche, diverse asset in investment portfolios.</p><p>&#34;It’s wrong to say this thing is going to curl up and die completely because there are elements of it which can be useful in other areas, and there is probably a modest cryptocurrency market which will continue to thrive on the margin of financial markets,&#34; he says.</p><p>Yet, the sort of regulation that investors need to feel safe dealing with crypto brokers and exchanges, be it transparency or capital adequacy, could take months, if not years to implement.</p><p>&#34;Some asset managers are looking at this as a 10-15 year journey to digital assets becoming fully mainstream,&#34; Morgan Stanley said in a note summarising the bank&#39;s discussions with the crypto industry.</p><p>Next year could meanwhile see traditional financial world use the crypto malaise to up its game: snap up platforms and assets in the blockchain world, issue tokenised bonds and stocks or maybe even roll out more central bank digital currencies.</p><p>As UBS&#39;s Malcolm says, it might just go to show that crypto was meant to be more &#34;an evolutionary than a revolutionary development in financial markets.&#34;</p><p>Explore the Reuters round-up of news stories that dominated the year, and the outlook for 2023.</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>Cryptocurrencies at Crossroads After Annus Horribilis</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\">\nCryptocurrencies at Crossroads After Annus Horribilis\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-12-20 23:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>SINGAPORE, Dec 20 (Reuters) - To borrow from Britain&#39;s Queen Elizabeth, 2022 is not a year on which the cryptocurrency world shall look back with undiluted pleasure.</p><p>Crashes, contagion, collapses came in such quick succession that investors were, towards the end of the year, asking serious existential questions.</p><p>After all, the largest cryptocurrency, bitcoin , has not kept its head above water for more than a week at a time, and is down about three-quarters from last November&#39;s $69,000 peak.</p><p>The market value of the 22,000-odd tokens and coins is now at less than a third of the peak $3 trillion in November 2021, and many of them are comatose, if not outright dead.</p><p>That&#39;s been a brutal reality check for an industry that kicked 2022 off with dreams of widespread mainstream institutional adoption, of bitcoin supplanting even gold as the world&#39;s inflation hedge, as well as endorsements from the likes of Tesla Inc chief Elon Musk and the wild celebration of billion-dollar non-fungible tokens.</p><p>Not only did cryptocurrencies get slammed by the Fed&#39;s uber hawkishness, their slide also triggered the crash of a stablecoin called TerraUSD, that then wrought a &#39;Lehman moment&#39; as funds and brokers such as Celsius and Voyager went bankrupt.</p><p>What some saw as the final nail in the crypto coffin was the collapse of Sam Bankman-Fried&#39;s FTX exchange last month.</p><h2>WHY IT MATTERS</h2><p>Unlike in 2017, when bitcoin crashed just as spectacularly, there are far fewer diehard crypto buffs predicting a bounce this time.</p><p>Rather, 2022 has become the &#34;I-told-you-so&#34; case for regulators, who&#39;ve largely maintained an arm&#39;s length from the crypto world or even banned trading in cryptocurrencies.</p><p>The European Central Bank reckons bitcoin&#39;s modest bounce this month is an &#34;artificially induced last gasp before the road to irrelevance&#34;.</p><p>Indeed, the one extenuating factor this year has been how mainstream finance has mostly escaped contagion. The excesses, the uncontrolled lending and fudging of billions of dollars have happened overwhelmingly within the crypto ecosystem.</p><p>At the same time, the idea that decentralised finance and private crypto coins can operate in the shadows of the traditional banking system, and thrive, now appears delusional.</p><p>As retail and institutional investors lose trust in crypto operators, a host of policymaker voices and even crypto barons are joining U.S. SEC Chair Gary Gensler in calling for regulation.</p><h2>WHAT DOES 2023 HOLD?</h2><p>UBS strategist James Malcolm points to the increasing correlation between cryptocurrencies and micro-cap U.S. stocks as testament to how bitcoin and other tokens could survive on the fringes, as a niche, diverse asset in investment portfolios.</p><p>&#34;It’s wrong to say this thing is going to curl up and die completely because there are elements of it which can be useful in other areas, and there is probably a modest cryptocurrency market which will continue to thrive on the margin of financial markets,&#34; he says.</p><p>Yet, the sort of regulation that investors need to feel safe dealing with crypto brokers and exchanges, be it transparency or capital adequacy, could take months, if not years to implement.</p><p>&#34;Some asset managers are looking at this as a 10-15 year journey to digital assets becoming fully mainstream,&#34; Morgan Stanley said in a note summarising the bank&#39;s discussions with the crypto industry.</p><p>Next year could meanwhile see traditional financial world use the crypto malaise to up its game: snap up platforms and assets in the blockchain world, issue tokenised bonds and stocks or maybe even roll out more central bank digital currencies.</p><p>As UBS&#39;s Malcolm says, it might just go to show that crypto was meant to be more &#34;an evolutionary than a revolutionary development in financial markets.&#34;</p><p>Explore the Reuters round-up of news stories that dominated the year, and the outlook for 2023.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2292331485","content_text":"SINGAPORE, Dec 20 (Reuters) - To borrow from Britain's Queen Elizabeth, 2022 is not a year on which the cryptocurrency world shall look back with undiluted pleasure.Crashes, contagion, collapses came in such quick succession that investors were, towards the end of the year, asking serious existential questions.After all, the largest cryptocurrency, bitcoin , has not kept its head above water for more than a week at a time, and is down about three-quarters from last November's $69,000 peak.The market value of the 22,000-odd tokens and coins is now at less than a third of the peak $3 trillion in November 2021, and many of them are comatose, if not outright dead.That's been a brutal reality check for an industry that kicked 2022 off with dreams of widespread mainstream institutional adoption, of bitcoin supplanting even gold as the world's inflation hedge, as well as endorsements from the likes of Tesla Inc chief Elon Musk and the wild celebration of billion-dollar non-fungible tokens.Not only did cryptocurrencies get slammed by the Fed's uber hawkishness, their slide also triggered the crash of a stablecoin called TerraUSD, that then wrought a 'Lehman moment' as funds and brokers such as Celsius and Voyager went bankrupt.What some saw as the final nail in the crypto coffin was the collapse of Sam Bankman-Fried's FTX exchange last month.WHY IT MATTERSUnlike in 2017, when bitcoin crashed just as spectacularly, there are far fewer diehard crypto buffs predicting a bounce this time.Rather, 2022 has become the \"I-told-you-so\" case for regulators, who've largely maintained an arm's length from the crypto world or even banned trading in cryptocurrencies.The European Central Bank reckons bitcoin's modest bounce this month is an \"artificially induced last gasp before the road to irrelevance\".Indeed, the one extenuating factor this year has been how mainstream finance has mostly escaped contagion. The excesses, the uncontrolled lending and fudging of billions of dollars have happened overwhelmingly within the crypto ecosystem.At the same time, the idea that decentralised finance and private crypto coins can operate in the shadows of the traditional banking system, and thrive, now appears delusional.As retail and institutional investors lose trust in crypto operators, a host of policymaker voices and even crypto barons are joining U.S. SEC Chair Gary Gensler in calling for regulation.WHAT DOES 2023 HOLD?UBS strategist James Malcolm points to the increasing correlation between cryptocurrencies and micro-cap U.S. stocks as testament to how bitcoin and other tokens could survive on the fringes, as a niche, diverse asset in investment portfolios.\"It’s wrong to say this thing is going to curl up and die completely because there are elements of it which can be useful in other areas, and there is probably a modest cryptocurrency market which will continue to thrive on the margin of financial markets,\" he says.Yet, the sort of regulation that investors need to feel safe dealing with crypto brokers and exchanges, be it transparency or capital adequacy, could take months, if not years to implement.\"Some asset managers are looking at this as a 10-15 year journey to digital assets becoming fully mainstream,\" Morgan Stanley said in a note summarising the bank's discussions with the crypto industry.Next year could meanwhile see traditional financial world use the crypto malaise to up its game: snap up platforms and assets in the blockchain world, issue tokenised bonds and stocks or maybe even roll out more central bank digital currencies.As UBS's Malcolm says, it might just go to show that crypto was meant to be more \"an evolutionary than a revolutionary development in financial markets.\"Explore the Reuters round-up of news stories that dominated the year, and the outlook for 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926985160,"gmtCreate":1671447293151,"gmtModify":1676538537728,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hhhh","listText":"Hhhh","text":"Hhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9926985160","repostId":"2291016896","repostType":4,"repost":{"id":"2291016896","pubTimestamp":1671437725,"share":"https://ttm.financial/m/news/2291016896?lang=&edition=fundamental","pubTime":"2022-12-19 16:15","market":"us","language":"en","title":"Alibaba: The Audits Look Increasingly Bullish","url":"https://stock-news.laohu8.com/highlight/detail?id=2291016896","media":"Seeking Alpha","summary":"SummaryRecently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.The SEC said that it received \"good access\" to the books after \"thorough and systematic tes","content":"<html><head></head><body><h2>Summary</h2><ul><li>Recently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.</li><li>The SEC said that it received &#34;good access&#34; to the books after &#34;thorough and systematic testing.&#34;</li><li>The SEC&#39;s comments combined with the speed of its review suggests that at least some of the reviews went well.</li><li>It&#39;s too early to say for sure that Alibaba Group Holding Limited&#39;s review, specifically, went well.</li><li>However, the early signs provide reasons for optimism.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eff714aff7a0e8bccd48ce41e42132fd\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\"/><span>Lintao Zhang</span></p><p>Recently, the Securities and Exchange Commission (“SEC”) announced that it had concluded its audit review of U.S.-listed Chinese stocks. By all accounts, the review went well. The SEC completed its work ahead of schedule, indicating that the inspections went smoothly. Today, the PCAOB further announced that it had receivedgood access to Chinese companies’ books after “thorough and systematic testing.”</p><p>We can’t say for sure that the total review went well (there’s more to audits than just &#34;accessing&#34; things), but the swift conclusion and glowing comments suggest that the SEC is about to hand investors some good news. So far, it has reviewed BABA and a few other companies’ books–it was these reviews that the glowing comments pertained to. We could yet see some smaller companies getting unfavorable reviews, but the news looks good for investors in Chinese blue chips.</p><p>The audit review isn’t over yet, as the SEC still has to finish reviewing documents. In addition to issues at facilities, accounting discrepancies can also trigger unfavorable audit opinions. We’ll have to wait and see whether the SEC thinks Chinese firms are doing good audits, but it shouldn’t be more than a few weeks’ wait. The final reports are expected this month.</p><p>This is all very encouraging news for <b>Alibaba Group Holding Limited</b> (NYSE:BABA) shareholders. Alibaba was one of the companies picked by the SEC to be reviewed first, so the SEC’s report on it should be out pretty soon. We don’t have an exact date on which the report will publish, but we do know that the SEC expects to republish reports by the end of 2022. Given that we’re halfway through December, that means we should be seeing something in a matter of weeks.</p><p>If any Chinese company is likely to pass the SEC’s audit inspections with flying colors, Alibaba is the one. As an e-commerce company, its business lacks any meaningful tie to state military or intelligence activities. Alibaba Cloud once held some government contracts, but those ended when China shifted to doing cloud services in-house.</p><p>There is little that Alibaba would need to hide from the U.S. government, so it’s likely to have given the SEC access to all the documents it needs. For this reason, I consider the upcoming audit review publication to be a bullish catalyst for the stock, as we’re seeing solid signs that the result will be a positive one.</p><h2>Alibaba - My Fundamental Thesis</h2><p>Alibaba is a stock I have covered extensively on Seeking Alpha and on Twitter. The basic gist of my thesis on the stock can be found in my past articles on the topic. To review briefly:</p><ul><li>Alibaba is cheap, with valuation multiples below those of similar-sized U.S. tech stocks.</li><li><p>The company is growing, having achieved 68% growth in operating income and 61% growth in free cash flow in its most recent quarter.</p></li><li><p>It also has a strong competitive position; it faces two main competitors in China, <b>JD.com</b> (JD) and <b>Pinduouo</b> (PDD), both of which have different business models than BABA’s own. Neither of these companies competes with Alibaba Cloud, which is China’s Cloud market leader. Alibaba competes with <b>Tencent</b> (OTCPK:TCEHY) in the Cloud and payments.</p></li></ul><p>For a big picture overview of my thoughts on Alibaba, you can check out my recent article Alibaba: FOMO is No Reason to Buy, which covers the competitive landscape, valuation, and a few possible catalysts. Basically, the stock has both value and growth characteristics, a strong competitive position, and a number of catalysts on the horizon. I’ll dedicate the remainder of this article to discussing the audit review catalyst in detail.</p><h2>Chinese Company Audit Reviews - The Background Story</h2><p>The ongoing SEC reviews of Chinese audit documents are just the latest in a much longer saga concerning the delisting of Chinese stocks from the NYSE. Beginning in the Trump Administration, the U.S. began delisting Chinese companies thought to not be in compliance with U.S. auditing standards. After Trump left office, the Biden administration kept the former President’s policies in place. In fact, the policies accelerated after the new administration came in. In 2022, the SEC added dozens of Chinese companies to the “Holding Foreign Companies Accountable Act” (a list of Chinese companies being considered for delisting). Later, it banned exports of various chip components to China, and demanded that <b>ASML Holding</b> (ASML) stop selling EUV lithography machines to China. The trade tensions between the U.S. and China have been steadily escalating, which is part of why many people think that Chinese stocks will end up getting delisted.</p><p>There is little doubt in my mind that some Chinese stocks will in fact be delisted. However, Alibaba specifically has a good chance of making the grade, as I’ll show in the next section.</p><h2>Why Alibaba Is A Top Contender For A Favorable Audit Review</h2><p>There are several reasons why Alibaba is a top contender for a favorable audit review by the SEC.</p><p>The first is the simple fact that China has no incentive to withhold data from foreign investors. The U.S./China audit dispute ultimately comes down to the U.S. wanting more data and China wanting to protect sensitive national security information. When it comes to industries like semiconductors, telecoms and social media, disclosing complete information can sometimes compromise national security. Semiconductors are used in drones, telco data includes peoples’ locations, and social media can be used to gather intelligence. Offering these kinds of companies to full audits by foreign countries can be a national security risk. For example, if you let a foreign country’s auditors inspect a chip maker’s facilities, they could bring trade secrets back home with them. Chinese companies that handle such information may not be able to comply with SEC audit requirements.</p><p>Alibaba is not such a company. It’s an e-commerce firm, meaning that it helps people buy and sell goods online. It does so through business to consumer (“B2C”) services like AliExpress and Tmall, and business to business (“B2B”) services like Alibaba.com. In neither B2C nor B2B use cases is Alibaba required to store sensitive national security data, so it should be able to offer the SEC reasonable access, both on site and in documents. I don’t think Alibaba’s recent foray into chips detracts from this point, as BABA’s chips are not going to be used in military devices.</p><h2>Why A Favorable Audit Review Is A Catalyst</h2><p>The reason why a favorable audit review would be a bullish catalyst for Alibaba is because the company is currently trading at a discount to fair value, its price being held back by perceived risk factors. The risk factors holding back the stock’s price include U.S./China tensions, COVID Zero, and lingering concerns about 2021’s tech crackdown. Many of the perceived risk factors have been overcome. For example, we haven’t heard about any new regulatory measures since early this year, and China has eased its COVID control policies. A favorable audit review opinion would be just the next catalyst we’d need for another leg up.</p><p>Alibaba would have significant upside based on nothing other than its valuation converging with that of U.S. big tech companies.</p><p>At today’s levels, the NASDAQ 100-Index (NDX) trades at:</p><ul><li><p>24.5 times earnings.</p></li><li><p>6 times book value.</p></li><li><p>3.6 times sales.</p></li></ul><p>By contrast, Alibaba trades at:</p><ul><li><p>12.3 times adjusted earnings.</p></li><li><p>1.79 times book value.</p></li><li><p>1.9 times sales.</p></li></ul><p>Were Alibaba to hit the NASDAQ-100’s earnings multiple, it would rise 100%.</p><p>Were it to hit the NASDAQ-100’s price/book multiple, it would rise 235%.</p><h2>That’s a significant amount of upside.</h2><p>Now, of course, there’s more to an analysis than just comparative multiples. The U.S. and China are totally different markets, and the NASDAQ could just as easily fall as Alibaba could rise. In fact, I personally think the NASDAQ is likely to fall from today’s levels. However, with the news we got today from the PCAOB, we know that there is a good sign the audit reviews will go well. If they do go well, then we’d expect Alibaba to make some gains. Personally, I’m in the stock until $150 at least.</p><h2>The Bottom Line</h2><p>What a year it has been for Alibaba. We’ve seen plenty of volatility, lots of ups and downs, but ultimately, the stock has out-performed the NASDAQ-100.</p><p>This year, we are seeing many China-related risk factors beginning to wane. There have been no new regulatory upheavals, Zero COVID has basically been ended, and now it looks like the de-listing risk is about to go away too.</p><p>That doesn’t mean that there won’t be plenty of risks in the future. The U.S. and China still disagree about Taiwan, and BABA does face competitive pressure from JD and Pinduoduo. But the most pressing and serious risk factors seem to be fading. That in itself doesn’t make Alibaba a buy, but the idea that China as a whole is “uninvestable” is losing credibility by the day.</p><p>There is a good chance, then, that Alibaba could see some upside just from investors buying China index funds. And if valuation means anything, as I think it does, we should see a day when Alibaba shares are going for $150. Of course, BABA stock will be volatile, but for the enterprising investor, volatility is merely an opportunity.</p><p><i>This article is written by Growth at a Good Price for reference only. Please note the risks.</i></p></body></html>","source":"seekingalpha_fund","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: The Audits Look Increasingly Bullish</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\">\nAlibaba: The Audits Look Increasingly Bullish\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-19 16:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4564794-alibaba-the-audits-look-increasingly-bullish><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryRecently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.The SEC said that it received \"good access\" to the books after \"thorough and systematic ...</p>\n\n<a href=\"https://seekingalpha.com/article/4564794-alibaba-the-audits-look-increasingly-bullish\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4554":"元宇宙及AR概念","BK4531":"中概回港概念","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","BK4558":"双十一","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","LU1046422090.SGD":"Fidelity Pacific A-SGD","BK4524":"宅经济概念","BK4535":"淡马锡持仓","BK4527":"明星科技股","BK4538":"云计算","BK4526":"热门中概股","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","09988":"阿里巴巴-W","BK4579":"人工智能","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","BK4502":"阿里概念","BABA":"阿里巴巴","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","BK4581":"高盛持仓","BK4548":"巴美列捷福持仓","BK4565":"NFT概念","LU1688375341.USD":"贝莱德中国灵活股票基金"},"source_url":"https://seekingalpha.com/article/4564794-alibaba-the-audits-look-increasingly-bullish","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2291016896","content_text":"SummaryRecently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.The SEC said that it received \"good access\" to the books after \"thorough and systematic testing.\"The SEC's comments combined with the speed of its review suggests that at least some of the reviews went well.It's too early to say for sure that Alibaba Group Holding Limited's review, specifically, went well.However, the early signs provide reasons for optimism.Lintao ZhangRecently, the Securities and Exchange Commission (“SEC”) announced that it had concluded its audit review of U.S.-listed Chinese stocks. By all accounts, the review went well. The SEC completed its work ahead of schedule, indicating that the inspections went smoothly. Today, the PCAOB further announced that it had receivedgood access to Chinese companies’ books after “thorough and systematic testing.”We can’t say for sure that the total review went well (there’s more to audits than just \"accessing\" things), but the swift conclusion and glowing comments suggest that the SEC is about to hand investors some good news. So far, it has reviewed BABA and a few other companies’ books–it was these reviews that the glowing comments pertained to. We could yet see some smaller companies getting unfavorable reviews, but the news looks good for investors in Chinese blue chips.The audit review isn’t over yet, as the SEC still has to finish reviewing documents. In addition to issues at facilities, accounting discrepancies can also trigger unfavorable audit opinions. We’ll have to wait and see whether the SEC thinks Chinese firms are doing good audits, but it shouldn’t be more than a few weeks’ wait. The final reports are expected this month.This is all very encouraging news for Alibaba Group Holding Limited (NYSE:BABA) shareholders. Alibaba was one of the companies picked by the SEC to be reviewed first, so the SEC’s report on it should be out pretty soon. We don’t have an exact date on which the report will publish, but we do know that the SEC expects to republish reports by the end of 2022. Given that we’re halfway through December, that means we should be seeing something in a matter of weeks.If any Chinese company is likely to pass the SEC’s audit inspections with flying colors, Alibaba is the one. As an e-commerce company, its business lacks any meaningful tie to state military or intelligence activities. Alibaba Cloud once held some government contracts, but those ended when China shifted to doing cloud services in-house.There is little that Alibaba would need to hide from the U.S. government, so it’s likely to have given the SEC access to all the documents it needs. For this reason, I consider the upcoming audit review publication to be a bullish catalyst for the stock, as we’re seeing solid signs that the result will be a positive one.Alibaba - My Fundamental ThesisAlibaba is a stock I have covered extensively on Seeking Alpha and on Twitter. The basic gist of my thesis on the stock can be found in my past articles on the topic. To review briefly:Alibaba is cheap, with valuation multiples below those of similar-sized U.S. tech stocks.The company is growing, having achieved 68% growth in operating income and 61% growth in free cash flow in its most recent quarter.It also has a strong competitive position; it faces two main competitors in China, JD.com (JD) and Pinduouo (PDD), both of which have different business models than BABA’s own. Neither of these companies competes with Alibaba Cloud, which is China’s Cloud market leader. Alibaba competes with Tencent (OTCPK:TCEHY) in the Cloud and payments.For a big picture overview of my thoughts on Alibaba, you can check out my recent article Alibaba: FOMO is No Reason to Buy, which covers the competitive landscape, valuation, and a few possible catalysts. Basically, the stock has both value and growth characteristics, a strong competitive position, and a number of catalysts on the horizon. I’ll dedicate the remainder of this article to discussing the audit review catalyst in detail.Chinese Company Audit Reviews - The Background StoryThe ongoing SEC reviews of Chinese audit documents are just the latest in a much longer saga concerning the delisting of Chinese stocks from the NYSE. Beginning in the Trump Administration, the U.S. began delisting Chinese companies thought to not be in compliance with U.S. auditing standards. After Trump left office, the Biden administration kept the former President’s policies in place. In fact, the policies accelerated after the new administration came in. In 2022, the SEC added dozens of Chinese companies to the “Holding Foreign Companies Accountable Act” (a list of Chinese companies being considered for delisting). Later, it banned exports of various chip components to China, and demanded that ASML Holding (ASML) stop selling EUV lithography machines to China. The trade tensions between the U.S. and China have been steadily escalating, which is part of why many people think that Chinese stocks will end up getting delisted.There is little doubt in my mind that some Chinese stocks will in fact be delisted. However, Alibaba specifically has a good chance of making the grade, as I’ll show in the next section.Why Alibaba Is A Top Contender For A Favorable Audit ReviewThere are several reasons why Alibaba is a top contender for a favorable audit review by the SEC.The first is the simple fact that China has no incentive to withhold data from foreign investors. The U.S./China audit dispute ultimately comes down to the U.S. wanting more data and China wanting to protect sensitive national security information. When it comes to industries like semiconductors, telecoms and social media, disclosing complete information can sometimes compromise national security. Semiconductors are used in drones, telco data includes peoples’ locations, and social media can be used to gather intelligence. Offering these kinds of companies to full audits by foreign countries can be a national security risk. For example, if you let a foreign country’s auditors inspect a chip maker’s facilities, they could bring trade secrets back home with them. Chinese companies that handle such information may not be able to comply with SEC audit requirements.Alibaba is not such a company. It’s an e-commerce firm, meaning that it helps people buy and sell goods online. It does so through business to consumer (“B2C”) services like AliExpress and Tmall, and business to business (“B2B”) services like Alibaba.com. In neither B2C nor B2B use cases is Alibaba required to store sensitive national security data, so it should be able to offer the SEC reasonable access, both on site and in documents. I don’t think Alibaba’s recent foray into chips detracts from this point, as BABA’s chips are not going to be used in military devices.Why A Favorable Audit Review Is A CatalystThe reason why a favorable audit review would be a bullish catalyst for Alibaba is because the company is currently trading at a discount to fair value, its price being held back by perceived risk factors. The risk factors holding back the stock’s price include U.S./China tensions, COVID Zero, and lingering concerns about 2021’s tech crackdown. Many of the perceived risk factors have been overcome. For example, we haven’t heard about any new regulatory measures since early this year, and China has eased its COVID control policies. A favorable audit review opinion would be just the next catalyst we’d need for another leg up.Alibaba would have significant upside based on nothing other than its valuation converging with that of U.S. big tech companies.At today’s levels, the NASDAQ 100-Index (NDX) trades at:24.5 times earnings.6 times book value.3.6 times sales.By contrast, Alibaba trades at:12.3 times adjusted earnings.1.79 times book value.1.9 times sales.Were Alibaba to hit the NASDAQ-100’s earnings multiple, it would rise 100%.Were it to hit the NASDAQ-100’s price/book multiple, it would rise 235%.That’s a significant amount of upside.Now, of course, there’s more to an analysis than just comparative multiples. The U.S. and China are totally different markets, and the NASDAQ could just as easily fall as Alibaba could rise. In fact, I personally think the NASDAQ is likely to fall from today’s levels. However, with the news we got today from the PCAOB, we know that there is a good sign the audit reviews will go well. If they do go well, then we’d expect Alibaba to make some gains. Personally, I’m in the stock until $150 at least.The Bottom LineWhat a year it has been for Alibaba. We’ve seen plenty of volatility, lots of ups and downs, but ultimately, the stock has out-performed the NASDAQ-100.This year, we are seeing many China-related risk factors beginning to wane. There have been no new regulatory upheavals, Zero COVID has basically been ended, and now it looks like the de-listing risk is about to go away too.That doesn’t mean that there won’t be plenty of risks in the future. The U.S. and China still disagree about Taiwan, and BABA does face competitive pressure from JD and Pinduoduo. But the most pressing and serious risk factors seem to be fading. That in itself doesn’t make Alibaba a buy, but the idea that China as a whole is “uninvestable” is losing credibility by the day.There is a good chance, then, that Alibaba could see some upside just from investors buying China index funds. And if valuation means anything, as I think it does, we should see a day when Alibaba shares are going for $150. Of course, BABA stock will be volatile, but for the enterprising investor, volatility is merely an opportunity.This article is written by Growth at a Good Price for reference only. Please note the risks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9929844091,"gmtCreate":1670640869113,"gmtModify":1676538410768,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Uuu","listText":"Uuu","text":"Uuu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9929844091","repostId":"1181869151","repostType":4,"repost":{"id":"1181869151","pubTimestamp":1670636698,"share":"https://ttm.financial/m/news/1181869151?lang=&edition=fundamental","pubTime":"2022-12-10 09:44","market":"us","language":"en","title":"Elon Musk’s Tweeting Is Problematic for Tesla Stock. Here’s Proof","url":"https://stock-news.laohu8.com/highlight/detail?id=1181869151","media":"Barron's","summary":"Twitteris an undeniable overhang forTeslastock. Investors feel it, Wall Street believes it, and now the data say so. What no one knows is how long the overhang will last—or if it will get worse.New St","content":"<html><head></head><body><p>Twitter is an undeniable overhang for Tesla stock. Investors feel it, Wall Street believes it, and now the data say so. What no one knows is how long the overhang will last—or if it will get worse.</p><p>New Street Research analyst Pierre Ferragu took to Twitter on Friday to explain what’s going on with Tesla stock (ticker: TSLA), which was off 49% so far this year as of the close on Friday.</p><p>He attributed the bulk of the decline to what’s happened to the market, which seems sensible. The Nasdaq Composite is off about 30% year to date, and most car-related stocks have been hit hard by rising interest rates and inflation. General Motors (GM) and Ford Motor (F) shares are off about 35% and 36%, respectively, so far this year.</p><p>Twitter is also a factor for Ferragu, who noted that perceptions of Tesla’s brand are sliding. Tesla’s net brand favorability score, which is positive opinions minus negative opinions, is down about six to 10 percentage points, hovering around 20%. That tops the the U.S. government’s score, which is less than zero, according to Ferragu’s data.</p><p><img src=\"https://static.tigerbbs.com/2e818e41d57a14c6cac9cab049bb3f61\" tg-width=\"827\" tg-height=\"884\" width=\"100%\" height=\"auto\"/></p><p>Ferragu rates Tesla stock at Buy with a Street-high price target of $530, according to FactSet.</p><p>“Impact on brand perception in the general public is visible and material, but it is very unlikely to affect materially buying behaviors in the near term,” Ferragu tells<i>Barron’s</i>in an emailed statement, adding “it will turn fast.”</p><p>Just how long a temporary impact will last is anyone’s guess. The Twitter overhang led Wedbush analyst Dan Ives to cut $50 off his price target for Tesla stock in November, leaving it at $250. He has called Twitter an albatross for Tesla stock, but still rates shares at Buy.</p><p>“Tweet by tweet, Musk creates more of an overhang on Tesla,” Ives told<i>Barron’s</i>Friday by email. “The Musk Twitter fiasco a darkening black cloud over the story. Perception is reality for the Street for now on Tesla.”</p><p>Tesla CEO Elon Musk ‘s recent tweets include shots at competitors, discussions of election interference by Twitter, disapproval of the Federal Reserve’s interest-rate policy, and claims of media bias. Those tweets were all this week.</p><p>Tesla investors still get tidbits about the car company from Musk’s tweeting. He responded to Ferragu’s thread, commenting that margin loans of Tesla stock don’t make sense in this weakening economic environment.</p><p>That’s a bit of good news for Tesla shareholders who don’t like Musk selling Tesla stock, and don’t want any sales tied to margin calls. Still, the possibility of Musk selling stock to help fund Twitter remains part of the overall overhang. Ferragu dismissed Musk selling Tesla stock as a long-term risk, though, writing that the sales would be “negligible to the market cap and trading volumes of [Tesla].”</p><p>If Musk’s stock sales aren’t the main cause of the overhang on the Tesla brand and shares, then that leaves the toll that Twitter takes on Musk’s full attention. Whatever the source, the impact is real.</p><p>Coming into Thursday, Tesla shares had declined about 23% since Musk completed the purchase of the social medial platform. The Nasdaq Composite has risen about 3% over the same span.</p><p>The spread is growing. It was negligible until early November, when Musk sold more Tesla stock after the deal close—a surprise to investors. After the sale, the spread was about 20 percentage points. It moved as high as 26 points this week, but had slipped back to 22 points as of the close of trading on Friday.</p><p>Tesla stock has been cut almost in half year to date. If Tesla stock were at the level it sold for before Musk completed the Twitter purchase, it would be off about 34% year to date, in line with GM and Ford stock.</p><p>The performance gap between Tesla and the rest of the car industry is the gain that investors can expect from Tesla stock if the Twitter overhang ever lifts.</p><p>That would put Tesla stock at roughly $225 a share. Investors hope for that rally soon.</p><p>Tesla stock closed 3.2% higher on Friday. TheS&amp;P 500 and the Nasdaq Composite both lost 0.7%.</p><p>The stock snapped a four-day losing streak that cost investors about 11%. Tesla stock is now down about 8% for the week.</p></body></html>","source":"lsy1610680873436","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’s Tweeting Is Problematic for Tesla Stock. Here’s Proof</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\">\nElon Musk’s Tweeting Is Problematic for Tesla Stock. Here’s Proof\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-10 09:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/elon-musk-twitter-tesla-stock-51670602565?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Twitter is an undeniable overhang for Tesla stock. Investors feel it, Wall Street believes it, and now the data say so. What no one knows is how long the overhang will last—or if it will get worse.New...</p>\n\n<a href=\"https://www.barrons.com/articles/elon-musk-twitter-tesla-stock-51670602565?mod=hp_LEAD_1\">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.barrons.com/articles/elon-musk-twitter-tesla-stock-51670602565?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181869151","content_text":"Twitter is an undeniable overhang for Tesla stock. Investors feel it, Wall Street believes it, and now the data say so. What no one knows is how long the overhang will last—or if it will get worse.New Street Research analyst Pierre Ferragu took to Twitter on Friday to explain what’s going on with Tesla stock (ticker: TSLA), which was off 49% so far this year as of the close on Friday.He attributed the bulk of the decline to what’s happened to the market, which seems sensible. The Nasdaq Composite is off about 30% year to date, and most car-related stocks have been hit hard by rising interest rates and inflation. General Motors (GM) and Ford Motor (F) shares are off about 35% and 36%, respectively, so far this year.Twitter is also a factor for Ferragu, who noted that perceptions of Tesla’s brand are sliding. Tesla’s net brand favorability score, which is positive opinions minus negative opinions, is down about six to 10 percentage points, hovering around 20%. That tops the the U.S. government’s score, which is less than zero, according to Ferragu’s data.Ferragu rates Tesla stock at Buy with a Street-high price target of $530, according to FactSet.“Impact on brand perception in the general public is visible and material, but it is very unlikely to affect materially buying behaviors in the near term,” Ferragu tellsBarron’sin an emailed statement, adding “it will turn fast.”Just how long a temporary impact will last is anyone’s guess. The Twitter overhang led Wedbush analyst Dan Ives to cut $50 off his price target for Tesla stock in November, leaving it at $250. He has called Twitter an albatross for Tesla stock, but still rates shares at Buy.“Tweet by tweet, Musk creates more of an overhang on Tesla,” Ives toldBarron’sFriday by email. “The Musk Twitter fiasco a darkening black cloud over the story. Perception is reality for the Street for now on Tesla.”Tesla CEO Elon Musk ‘s recent tweets include shots at competitors, discussions of election interference by Twitter, disapproval of the Federal Reserve’s interest-rate policy, and claims of media bias. Those tweets were all this week.Tesla investors still get tidbits about the car company from Musk’s tweeting. He responded to Ferragu’s thread, commenting that margin loans of Tesla stock don’t make sense in this weakening economic environment.That’s a bit of good news for Tesla shareholders who don’t like Musk selling Tesla stock, and don’t want any sales tied to margin calls. Still, the possibility of Musk selling stock to help fund Twitter remains part of the overall overhang. Ferragu dismissed Musk selling Tesla stock as a long-term risk, though, writing that the sales would be “negligible to the market cap and trading volumes of [Tesla].”If Musk’s stock sales aren’t the main cause of the overhang on the Tesla brand and shares, then that leaves the toll that Twitter takes on Musk’s full attention. Whatever the source, the impact is real.Coming into Thursday, Tesla shares had declined about 23% since Musk completed the purchase of the social medial platform. The Nasdaq Composite has risen about 3% over the same span.The spread is growing. It was negligible until early November, when Musk sold more Tesla stock after the deal close—a surprise to investors. After the sale, the spread was about 20 percentage points. It moved as high as 26 points this week, but had slipped back to 22 points as of the close of trading on Friday.Tesla stock has been cut almost in half year to date. If Tesla stock were at the level it sold for before Musk completed the Twitter purchase, it would be off about 34% year to date, in line with GM and Ford stock.The performance gap between Tesla and the rest of the car industry is the gain that investors can expect from Tesla stock if the Twitter overhang ever lifts.That would put Tesla stock at roughly $225 a share. Investors hope for that rally soon.Tesla stock closed 3.2% higher on Friday. TheS&P 500 and the Nasdaq Composite both lost 0.7%.The stock snapped a four-day losing streak that cost investors about 11%. Tesla stock is now down about 8% for the week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9920725685,"gmtCreate":1670551274848,"gmtModify":1676538391836,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hhh","listText":"Hhh","text":"Hhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920725685","repostId":"2290447036","repostType":4,"repost":{"id":"2290447036","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1670549824,"share":"https://ttm.financial/m/news/2290447036?lang=&edition=fundamental","pubTime":"2022-12-09 09:37","market":"us","language":"en","title":"Exxon, Chevron to Spend Billions More on Oil Projects Next Year","url":"https://stock-news.laohu8.com/highlight/detail?id=2290447036","media":"Reuters","summary":"(Reuters) - The two largest U.S. oil companies - Exxon Mobil Corp and Chevron Corp - disclosed plans","content":"<html><head></head><body><p>(Reuters) - The two largest U.S. oil companies - Exxon Mobil Corp and Chevron Corp - disclosed plans to increase outlays on energy projects next year amid high oil demand and prices.</p><p>While spending more, it will be less than half the combined $84 billion they spent in 2013, when oil prices often traded above $100 per barrel as it has this year. The two are awash in cash from those prices and past cost-cuts, and have sharply raised shareholder payouts.</p><p>The focus on shareholder returns have led to pressure from the White House. The Biden administration has criticized oil companies for not raising their oil production to help lower prices to consumers. Still, next year&#39;s budgets remain within the ranges each set before the war in Ukraine fed a global shortage of energy.</p><p>Exxon said it would increase project investments next year to between $23 billion to $25 billion, up from a projected $22 billion this year. Chevron said it plans to spend $17 billion, up from about $15 billion this year. Increases include new monies for emissions reduction projects and the impact of inflation.</p><p>The higher spending will not immediately lead to more production. Exxon has said it expects output next year to be flat at about 3.7 million barrels of equivalent oil per day (boed), while Chevron has forecast a greater than 3% compound average annual increase through 2026.</p><p>Exxon will miss its goal of pumping 1 million boed from its Permian operations by about two years, Exxon Chief Executive Darren Woods said on Thursday. It now aims to reach between 900,000-1 million boed in 2027.</p><p>The biggest change will be the amount of cash earned. Exxon sees potential for $100 billion in surplus cash by 2027, assuming global oil prices of $60 per barrel. Chevron should generate about $34 billion in free cash flow next year, according to Jefferies equity research, twice its oil investments levels.</p><p>&#34;This leaves ample room for opportunistic M&amp;A, increases to the buyback or simply even lower leverage with an eye toward increasing buybacks at a lower share price,&#34; said Jefferies equity analysts Lloyd Byrne and Sam Burwell.</p><p>U.S. and European producers have also been partially recovering project spending slashed during the pandemic. Shell this year increased capital spending 22% to between $23 billion to $27 billion. BP this year expanded project spending by 21% to $15.5 billion from last year.</p><p>The five western majors posted record profits this year, and Exxon and Chevron shares have hit historical highs this quarter.</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>Exxon, Chevron to Spend Billions More on Oil Projects Next Year</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\">\nExxon, Chevron to Spend Billions More on Oil Projects Next Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-12-09 09:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - The two largest U.S. oil companies - Exxon Mobil Corp and Chevron Corp - disclosed plans to increase outlays on energy projects next year amid high oil demand and prices.</p><p>While spending more, it will be less than half the combined $84 billion they spent in 2013, when oil prices often traded above $100 per barrel as it has this year. The two are awash in cash from those prices and past cost-cuts, and have sharply raised shareholder payouts.</p><p>The focus on shareholder returns have led to pressure from the White House. The Biden administration has criticized oil companies for not raising their oil production to help lower prices to consumers. Still, next year&#39;s budgets remain within the ranges each set before the war in Ukraine fed a global shortage of energy.</p><p>Exxon said it would increase project investments next year to between $23 billion to $25 billion, up from a projected $22 billion this year. Chevron said it plans to spend $17 billion, up from about $15 billion this year. Increases include new monies for emissions reduction projects and the impact of inflation.</p><p>The higher spending will not immediately lead to more production. Exxon has said it expects output next year to be flat at about 3.7 million barrels of equivalent oil per day (boed), while Chevron has forecast a greater than 3% compound average annual increase through 2026.</p><p>Exxon will miss its goal of pumping 1 million boed from its Permian operations by about two years, Exxon Chief Executive Darren Woods said on Thursday. It now aims to reach between 900,000-1 million boed in 2027.</p><p>The biggest change will be the amount of cash earned. Exxon sees potential for $100 billion in surplus cash by 2027, assuming global oil prices of $60 per barrel. Chevron should generate about $34 billion in free cash flow next year, according to Jefferies equity research, twice its oil investments levels.</p><p>&#34;This leaves ample room for opportunistic M&amp;A, increases to the buyback or simply even lower leverage with an eye toward increasing buybacks at a lower share price,&#34; said Jefferies equity analysts Lloyd Byrne and Sam Burwell.</p><p>U.S. and European producers have also been partially recovering project spending slashed during the pandemic. Shell this year increased capital spending 22% to between $23 billion to $27 billion. BP this year expanded project spending by 21% to $15.5 billion from last year.</p><p>The five western majors posted record profits this year, and Exxon and Chevron shares have hit historical highs this quarter.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚","CVX":"雪佛龙"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2290447036","content_text":"(Reuters) - The two largest U.S. oil companies - Exxon Mobil Corp and Chevron Corp - disclosed plans to increase outlays on energy projects next year amid high oil demand and prices.While spending more, it will be less than half the combined $84 billion they spent in 2013, when oil prices often traded above $100 per barrel as it has this year. The two are awash in cash from those prices and past cost-cuts, and have sharply raised shareholder payouts.The focus on shareholder returns have led to pressure from the White House. The Biden administration has criticized oil companies for not raising their oil production to help lower prices to consumers. Still, next year's budgets remain within the ranges each set before the war in Ukraine fed a global shortage of energy.Exxon said it would increase project investments next year to between $23 billion to $25 billion, up from a projected $22 billion this year. Chevron said it plans to spend $17 billion, up from about $15 billion this year. Increases include new monies for emissions reduction projects and the impact of inflation.The higher spending will not immediately lead to more production. Exxon has said it expects output next year to be flat at about 3.7 million barrels of equivalent oil per day (boed), while Chevron has forecast a greater than 3% compound average annual increase through 2026.Exxon will miss its goal of pumping 1 million boed from its Permian operations by about two years, Exxon Chief Executive Darren Woods said on Thursday. It now aims to reach between 900,000-1 million boed in 2027.The biggest change will be the amount of cash earned. Exxon sees potential for $100 billion in surplus cash by 2027, assuming global oil prices of $60 per barrel. Chevron should generate about $34 billion in free cash flow next year, according to Jefferies equity research, twice its oil investments levels.\"This leaves ample room for opportunistic M&A, increases to the buyback or simply even lower leverage with an eye toward increasing buybacks at a lower share price,\" said Jefferies equity analysts Lloyd Byrne and Sam Burwell.U.S. and European producers have also been partially recovering project spending slashed during the pandemic. Shell this year increased capital spending 22% to between $23 billion to $27 billion. BP this year expanded project spending by 21% to $15.5 billion from last year.The five western majors posted record profits this year, and Exxon and Chevron shares have hit historical highs this quarter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9967759356,"gmtCreate":1670380807876,"gmtModify":1676538356863,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Jjjj","listText":"Jjjj","text":"Jjjj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9967759356","repostId":"2289172057","repostType":4,"repost":{"id":"2289172057","pubTimestamp":1670378894,"share":"https://ttm.financial/m/news/2289172057?lang=&edition=fundamental","pubTime":"2022-12-07 10:08","market":"us","language":"en","title":"Why Is SOFI Stock Down 4.6% on Tuesday?","url":"https://stock-news.laohu8.com/highlight/detail?id=2289172057","media":"InvestorPlace","summary":"Shares of SoFi Technologies reached a new 52-week low of $4.26 today.Investors are expecting a bette","content":"<html><head></head><body><ul><li>Shares of <a href=\"https://laohu8.com/S/SOFI\">SoFi Technologies</a> reached a new 52-week low of $4.26 today.</li><li>Investors are expecting a better 2023 for the company due to the resumption of student loan payments.</li><li>Shares of SOFI stock are down by over 70% year-to-date.</li></ul><p><img src=\"https://static.tigerbbs.com/8e51c82908b02a0e6b6b2f0984d7e346\" tg-width=\"768\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/></p><p>Source: Michael Vi / Shutterstock</p><p>Shares of <a href=\"https://laohu8.com/S/SOFI\">SoFi Technologies</a> are down by about 5% today on seemingly no company-specific news. Shares also reached a new 52-week low of $4.26. In addition, the last investor relations update the company posted was from Nov. 9. So, why exactly is SOFI stock down today?</p><p><img src=\"https://static.tigerbbs.com/f5ba50749955377f57e2d02a72f9ce30\" tg-width=\"779\" tg-height=\"663\" width=\"100%\" height=\"auto\"/></p><p>It appears SoFi is moving in correlation with the broad market, as both the <b>S&amp;P 500</b> and <b>Nasdaq</b> indices are down by more than 1%. Today’s decline has brought SoFi’s year-to-date loss to more than 70%.</p><p>Better times are ahead for the all-in-one financial platform in 2023. For starters, the federal student loan moratorium is set to expire no later than June 30, 2023. First enacted during the start of the coronavirus pandemic, the policy has had drastic effects on SoFi’s student loan volume. In its third-quarter earnings, the company explained:</p><blockquote>“Third quarter student loan volume of over $457 million was down more than 50% from the average pre-pandemic volume as the moratorium on student loan payments continues to weigh on the business.”</blockquote><p>With payments slated to resume next year, SoFi should see a well-needed boost in student loan activity.</p><h2>Why Is SOFI Stock Down Today?</h2><p>On the other hand, <i>InvestorPlace’s </i>Louis Navellier believes SoFi should be avoided, despite the decline in price this year. He notes current revenue and earnings forecasts already factor in the end of the moratorium, which “may not translate into big profitability improvements.”</p><p>On top of that, sell-side analysts forecast the company will report negative earnings per share (EPS) for 2023 and 2024. By 2025, one analyst forecasts positive EPS of 35 cents. The current status of unprofitability does not factor in well with the high interest-rate macroeconomic environment.</p><p>Meanwhile, analysts have mixed feelings about SoFi. Among 12 firms, the highest price target is $10, the lowest is $5 and the average is $7.50. Additionally, the last four price target updates have all been lower revisions.</p><h2>SoFi’s Crypto Business in Flux</h2><p>Following the collapse of cryptocurrency exchange <b>FTX</b>, lawmakers from the Senate Banking Committee issued letters to SoFi requesting a review of its crypto trading activity. <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analyst Jeffrey Adelson explained since SoFi is a bank holding company, it shouldn’t be allowed to engage in crypto. The analyst also added he sees “higher odds” of SoFi making a crypto exit. Still, crypto revenue is just a sliver of SoFi’s overall revenue, accounting for less than 1%.</p></body></html>","source":"investorplace","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 SOFI Stock Down 4.6% on Tuesday?</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 SOFI Stock Down 4.6% on Tuesday?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-07 10:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/12/why-is-sofi-stock-down-today/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of SoFi Technologies reached a new 52-week low of $4.26 today.Investors are expecting a better 2023 for the company due to the resumption of student loan payments.Shares of SOFI stock are down ...</p>\n\n<a href=\"https://investorplace.com/2022/12/why-is-sofi-stock-down-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://investorplace.com/2022/12/why-is-sofi-stock-down-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2289172057","content_text":"Shares of SoFi Technologies reached a new 52-week low of $4.26 today.Investors are expecting a better 2023 for the company due to the resumption of student loan payments.Shares of SOFI stock are down by over 70% year-to-date.Source: Michael Vi / ShutterstockShares of SoFi Technologies are down by about 5% today on seemingly no company-specific news. Shares also reached a new 52-week low of $4.26. In addition, the last investor relations update the company posted was from Nov. 9. So, why exactly is SOFI stock down today?It appears SoFi is moving in correlation with the broad market, as both the S&P 500 and Nasdaq indices are down by more than 1%. Today’s decline has brought SoFi’s year-to-date loss to more than 70%.Better times are ahead for the all-in-one financial platform in 2023. For starters, the federal student loan moratorium is set to expire no later than June 30, 2023. First enacted during the start of the coronavirus pandemic, the policy has had drastic effects on SoFi’s student loan volume. In its third-quarter earnings, the company explained:“Third quarter student loan volume of over $457 million was down more than 50% from the average pre-pandemic volume as the moratorium on student loan payments continues to weigh on the business.”With payments slated to resume next year, SoFi should see a well-needed boost in student loan activity.Why Is SOFI Stock Down Today?On the other hand, InvestorPlace’s Louis Navellier believes SoFi should be avoided, despite the decline in price this year. He notes current revenue and earnings forecasts already factor in the end of the moratorium, which “may not translate into big profitability improvements.”On top of that, sell-side analysts forecast the company will report negative earnings per share (EPS) for 2023 and 2024. By 2025, one analyst forecasts positive EPS of 35 cents. The current status of unprofitability does not factor in well with the high interest-rate macroeconomic environment.Meanwhile, analysts have mixed feelings about SoFi. Among 12 firms, the highest price target is $10, the lowest is $5 and the average is $7.50. Additionally, the last four price target updates have all been lower revisions.SoFi’s Crypto Business in FluxFollowing the collapse of cryptocurrency exchange FTX, lawmakers from the Senate Banking Committee issued letters to SoFi requesting a review of its crypto trading activity. Morgan Stanley analyst Jeffrey Adelson explained since SoFi is a bank holding company, it shouldn’t be allowed to engage in crypto. The analyst also added he sees “higher odds” of SoFi making a crypto exit. Still, crypto revenue is just a sliver of SoFi’s overall revenue, accounting for less than 1%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":572,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9967849885,"gmtCreate":1670299526547,"gmtModify":1676538340160,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hhh","listText":"Hhh","text":"Hhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9967849885","repostId":"1125714153","repostType":4,"repost":{"id":"1125714153","pubTimestamp":1670293345,"share":"https://ttm.financial/m/news/1125714153?lang=&edition=fundamental","pubTime":"2022-12-06 10:22","market":"us","language":"en","title":"Apple Is Good, Even Better If Owned Via Berkshire Hathaway","url":"https://stock-news.laohu8.com/highlight/detail?id=1125714153","media":"Seeking Alpha","summary":"SummaryI kept telling my readers buying/adding Apple near or below 20x owners' earnings is a no brai","content":"<html><head></head><body><h3>Summary</h3><ul><li>I kept telling my readers buying/adding Apple near or below 20x owners&#39; earnings is a no brainer (i.e., a ~$145 price under current conditions).</li><li>In this article, I will explain a way to backdoor Apple through Berkshire Hathaway.</li><li>I will explain why owning Apple shares via Berkshire is even more attractive under their current conditions.</li><li>This way, you get to own Apple with an effective “ownership”PE in the range of ~12x to free depending on how you value Berkshires’ operating earnings.</li><li>This idea was discussed in more depth with members of my private investing community, Envision Early Retirement.</li></ul><h3>Q3 recap and investment thesis</h3><p>My last article on <a href=\"https://laohu8.com/S/AAPL\">Apple</a> and Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) is co-produced with Sensor Unlimited and published about a month ago in early November. That article argued that share repurchases at both AAPL and BRK are far more potent when considered together than viewed separately. Such “double buybacks” are compounding on steroids in our view.</p><p>In this article, we want to switch the focus entirely. We will argue A) why buying/adding AAPL around its current price (which translates to about 20x owners&#39; earnings) is a no-brainer, and B) why owning AAPL via BRK is an even better idea.</p><p>Both AAPL and BRK have posted strong Q3 earnings. The key results are shown in the two charts below, and I will dive into the highlights as we go. These strong results, when combined with the price corrections during Q3 due to (or thanks to) market volatilities, investors have some great opportunities to buy or add these perpetual compounders at enticing entry valuations.</p><p>For AAPL, its TTM EPS as of Q3 2022 (i.e., its FY Q4) came in at $6.11 per share as you can see from the first chart below. Later, you will see that such accounting EPS underestimates its owners&#39; earnings (“OE”), and its OE is around $7.18, which translates into a share price near ~$145 at a 20x OE multiple. And I kept telling my readers buying/adding stock like AAPL near or below 20x OE is a no-brainer. Stocks like AAPL (or BRK) are quintessential examples of equity bonds as explained in my earlier article because:</p><p>To me, any valuation near or below 20x OE is very attractive for a stock with ROCE (return on capital employed) near 100% like AAPL. At about 100% ROCE, a 5% investment rate would provide 5% organic real growth rates (i.e., before inflation adjustments). And a 20x OE would provide about 5% owners earnings yield, leading to a total return in the double digits. Once you adjust for the risks (and I consider the risks from AAPL similar to treasury bonds), a 10%+ annual return is ~3x of what you can get from bonds in the long term.</p><p>In this article, I will focus on an alternative way to own AAPL, a sort of backdoor, through BRK. And I will explain why owning AAPL this way is even more attractive under current conditions. And this brings me to the financials of BRK, as shown in the second chart in this section.</p><p><img src=\"https://static.tigerbbs.com/f61e045c67f643b98ba432f7f5f77739\" tg-width=\"640\" tg-height=\"585\" width=\"100%\" height=\"auto\"/>BRK reported strong operating results for Q3 also and is on pace for a solid 2022. Operating earnings per share, which excludes capital gains and losses from the investment portfolio, clocked in at $3.00 in Q3, translating into an annual growth rate of almost 20% YOY. This was particularly impressive considering that its insurance segment suffered higher-than-usual operations losses due to hurricane Ida, Ian, and also the floods in Europe. The remainder of this analysis also will involve its balance sheet, which is posted below. And a couple of highlights relevant to the subsequent analyses:</p><ul><li>All my following per-share numbers for BRK (e.g., OE, equity, cash, et al) are quoted per Berkshire Hathaway B share, not A shares. Given that the focus here is on the financial (not voting power), the analysis should be perfectly applicable for A shares.</li><li>Its equivalent Class B shares outstanding is taken to be 2.2B shares according to its most recent 10-K filing. The market value of its equity investment portfolio is taken from dataroma. And as of this writing, the portfolio value is reported to be $296.1B, slightly below the $306B shown in its 10-K below due to market fluctuations since the filing.</li></ul><p>With these parameters, let’s dive in and see how we can own AAPL through BRK at an effective PE of ~12x or below.</p><h3><img src=\"https://static.tigerbbs.com/744119f29d38279a1a7fad8febbe605e\" tg-width=\"640\" tg-height=\"401\" width=\"100%\" height=\"auto\"/>AAPL’s EPS and OE</h3><p>Since we are analyzing AAPL and BRK, it&#39;s only fitting to start with a quote from Warren Buffett on the difference between accounting EPS and owners&#39; earnings (“OE”). The following is taken from Berkshire Hathaway&#39;s 1986 annual report (slightly edited with emphases added by me):</p><p>These represent (“a”) reported earnings plus (“b”) depreciation, depletion, amortization, and certain other non-cash charges...less (“c”) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (“c”) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes...All of this points up the absurdity of the &#39;cash flow&#39; numbers that are often set forth in Wall Street reports. These numbers routinely include (“a”) plus (“b”) - but do not subtract (“c”).</p><p>The key is to estimate item c, and my analysis of item c for AAPL is shown in the table below. This table is based off Bruce Greenwald’s method (detailed in his book Value Investing) to separate maintenance capex and growth capex. Readers interested in the details could find them in my earlier article or his book.</p><p>To wit, AAPL’s TTM accounting EPS came in at $6.11 per share as aforementioned. However, its OE is about $7.18 per share, about 18% higher. The reason for this higher OE is the accounting EPS considered all CAPEX to be a cost, while only the maintenance capex should be considered as costs as Buffett explained above. In AAPL’s case, the discrepancy should be obvious as its accounting EPS is even lower than its FCF (free cash flow) by about 13%, and then even the FCF is an underestimate of the true OE (again because the FCF calculation also considered all the capex expenses to costs). The third column in the table shows my forecast for the next year. And as you can see, the OE for Apple in the next year is projected to be $7.33 per share.</p><p>All told, Apple&#39;s accounting PE is about 23x, a number all AAPL investors must be very familiar with. However, once you consider its OE, then the multiple is actually on the order of 20x for this year and slightly below 20x on an FW basis.</p><p>Then finally, remember that Apple also carries a net cash position on its balance sheet (about $2.27 per share under its current conditions). Once you adjust the cash position too, its OE PE is on the order of 19.9x for this year and only 19.5x for next year.</p><p>And in the next section, we will see how we can do even better through BRK.</p><h3><img src=\"https://static.tigerbbs.com/c3ac6ab756c4503f2a547af66444cff4\" tg-width=\"640\" tg-height=\"344\" width=\"100%\" height=\"auto\"/>Backdoor AAPL via BRK</h3><p>As mentioned earlier, the market value of BRK’s equity investment portfolio (based on dataroma) is at $296.1B As of this writing. AAPL is the largest position and is valued at $123.6B. So BRK’s equity investment excluding AAPL is worth about $173B, or $77 per share. The market capitalization for BRK is about $701B ($315 share price). Then also recall from its balance sheet, we know that there is $109 billion worth of cash sitting on its ledger.</p><p>Putting all these above numbers together, we can show that:</p><p>If we take out all the other equity investments except AAPL and the cash, BRK’s adjusted market cap is $420B (or $189 per share). This means if we buy BRK shares at $315 and then liquidate the cash and all other equity investments except AAPL, we effectively paid $189 for each BRK share only.</p><p>Why does this $189 buy us then? First, we bought all the AAPL shares that BRK owns. As of this writing, BRK owns a total of 894.8 million shares of AAPL, translating into 0.40 AAPL shares contained per BRK share. BRK has been consistently buying back its own shares. And I project this trend to continue. Extrapolating its share repurchase from the previous quarters, the AAPL shares contained in each BRK share would increase to 0.41 next year as shown.</p><p>Second, we also bought all the BRK operating segments too, which is what we will examine next.</p><h3><img src=\"https://static.tigerbbs.com/16462afe4efe010fb29b16d41385f15a\" tg-width=\"640\" tg-height=\"181\" width=\"100%\" height=\"auto\"/>AAPL’s ownership PE via BRK</h3><p>BRK is projected to earn $12.9 per share of operating income in 2022, although 2022 may not be the most representative year. My best estimate for its normalized operating income is about $12 per share (or $26.7B in total), which is the assumption that I used in the analysis shown in the following table.</p><p><img src=\"https://static.tigerbbs.com/4af9da2b8625409ae4723445ce6a9c94\" tg-width=\"640\" tg-height=\"159\" width=\"100%\" height=\"auto\"/>Now just as established above, if we buy BRK shares at $315, we are effectively buying 0.40 AAPL shares (or 0.41 on an FW basis) and all the BRK operating segments for $189. The BRK operating segments would provide earnings of $12 per share as assumed above, and the 0.4 AAPL shares would provide an OE of $2.88 (=0.40*$7.18). Thus, we paid $189 and got a total of $14.88 per share of OE ($12 from BRK operations plus $2.88 from AAPL). On an FW basis, the earnings would further increase to $15.13 per share due to a combination of AAPL earnings growth and BRK’s share repurchases as discussed above.</p><p>Now, how you compute the PE multiple here depends on how you value BRK’s operating income. The last row of the table shows an aggregated average, a sort of effective &#34;ownership&#34; PE of AAPL and BRK together, which turned out to be 12.7x based on 2022 financials and 12.1x on an FW basis.</p><p>If BRK’s operating income is priced at a 15x multiple – a quite reasonable multiple in my view, then BRK’s operating income would be worth $180 per share. Hence, we would be paying only $9 ($189-$12*15) for the 0.4 AAPL share, which provides $2.88 of OE. This means we would be owning the AAPL shares at a PE of about 3.1x only.</p><h3>Risks and final thoughts</h3><p>Specific risks for AAPL or BRK have been thoroughly discussed in other SA articles (including some of our own), and I won’t further add them here. Here I will focus on the risks and limitations associated with the particular backdoor idea described in this article.</p><ul><li>BRK’s cash position. In this analysis, I assumed that you could liquidate all the cash on its ledger. But of course, a good part of the cash is insurance float and cannot be liquidated (at least cannot be entirely liquidated). But there also are good reasons behind the approach that I used – at least as a thought experiment to analyze the financials and valuation. After all, cash is cash. If you buy BRK completely, every $1 in the insurance float still counts as $1.</li><li>Worth of BRK’s equity portfolio. The market valuation of BRK’s equity portfolio is always a moving target and changes on a daily basis with the market volatilities. Hence, there is some uncertainty here too. As aforementioned, the current portfolio value of $296.1B is already below the $306B disclosed in its 10-K back in September.</li></ul><p>Nonetheless, it’s always better to be approximately right than precisely wrong. And the bigger picture I see here are:</p><ul><li>Owning a perpetual compounder like AAPL near or below 20x OE is a no-brainer to me. And under Apple’s current conditions, with the cash position and underestimation of accounting EPS adjusted, a ~$145 stock price should translate into a 20x OE or below.</li><li>The discrepancy between accounting PE and OE PE is even larger than BRK. And once these discrepancies are corrected, we can own Apple shares with an effective “ownership” PE through BRK at heavy discounts. The exact discounts depend on how your value BRK’s operating income, which can lead to an ownership PE of AAPL in the range of ~12x to free based on my analyses.</li></ul></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>Apple Is Good, Even Better If Owned Via Berkshire Hathaway</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\">\nApple Is Good, Even Better If Owned Via Berkshire Hathaway\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-06 10:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4562427-apple-is-good-even-better-if-owned-via-berkshire-hathaway><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryI kept telling my readers buying/adding Apple near or below 20x owners' earnings is a no brainer (i.e., a ~$145 price under current conditions).In this article, I will explain a way to backdoor...</p>\n\n<a href=\"https://seekingalpha.com/article/4562427-apple-is-good-even-better-if-owned-via-berkshire-hathaway\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4562427-apple-is-good-even-better-if-owned-via-berkshire-hathaway","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125714153","content_text":"SummaryI kept telling my readers buying/adding Apple near or below 20x owners' earnings is a no brainer (i.e., a ~$145 price under current conditions).In this article, I will explain a way to backdoor Apple through Berkshire Hathaway.I will explain why owning Apple shares via Berkshire is even more attractive under their current conditions.This way, you get to own Apple with an effective “ownership”PE in the range of ~12x to free depending on how you value Berkshires’ operating earnings.This idea was discussed in more depth with members of my private investing community, Envision Early Retirement.Q3 recap and investment thesisMy last article on Apple and Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B) is co-produced with Sensor Unlimited and published about a month ago in early November. That article argued that share repurchases at both AAPL and BRK are far more potent when considered together than viewed separately. Such “double buybacks” are compounding on steroids in our view.In this article, we want to switch the focus entirely. We will argue A) why buying/adding AAPL around its current price (which translates to about 20x owners' earnings) is a no-brainer, and B) why owning AAPL via BRK is an even better idea.Both AAPL and BRK have posted strong Q3 earnings. The key results are shown in the two charts below, and I will dive into the highlights as we go. These strong results, when combined with the price corrections during Q3 due to (or thanks to) market volatilities, investors have some great opportunities to buy or add these perpetual compounders at enticing entry valuations.For AAPL, its TTM EPS as of Q3 2022 (i.e., its FY Q4) came in at $6.11 per share as you can see from the first chart below. Later, you will see that such accounting EPS underestimates its owners' earnings (“OE”), and its OE is around $7.18, which translates into a share price near ~$145 at a 20x OE multiple. And I kept telling my readers buying/adding stock like AAPL near or below 20x OE is a no-brainer. Stocks like AAPL (or BRK) are quintessential examples of equity bonds as explained in my earlier article because:To me, any valuation near or below 20x OE is very attractive for a stock with ROCE (return on capital employed) near 100% like AAPL. At about 100% ROCE, a 5% investment rate would provide 5% organic real growth rates (i.e., before inflation adjustments). And a 20x OE would provide about 5% owners earnings yield, leading to a total return in the double digits. Once you adjust for the risks (and I consider the risks from AAPL similar to treasury bonds), a 10%+ annual return is ~3x of what you can get from bonds in the long term.In this article, I will focus on an alternative way to own AAPL, a sort of backdoor, through BRK. And I will explain why owning AAPL this way is even more attractive under current conditions. And this brings me to the financials of BRK, as shown in the second chart in this section.BRK reported strong operating results for Q3 also and is on pace for a solid 2022. Operating earnings per share, which excludes capital gains and losses from the investment portfolio, clocked in at $3.00 in Q3, translating into an annual growth rate of almost 20% YOY. This was particularly impressive considering that its insurance segment suffered higher-than-usual operations losses due to hurricane Ida, Ian, and also the floods in Europe. The remainder of this analysis also will involve its balance sheet, which is posted below. And a couple of highlights relevant to the subsequent analyses:All my following per-share numbers for BRK (e.g., OE, equity, cash, et al) are quoted per Berkshire Hathaway B share, not A shares. Given that the focus here is on the financial (not voting power), the analysis should be perfectly applicable for A shares.Its equivalent Class B shares outstanding is taken to be 2.2B shares according to its most recent 10-K filing. The market value of its equity investment portfolio is taken from dataroma. And as of this writing, the portfolio value is reported to be $296.1B, slightly below the $306B shown in its 10-K below due to market fluctuations since the filing.With these parameters, let’s dive in and see how we can own AAPL through BRK at an effective PE of ~12x or below.AAPL’s EPS and OESince we are analyzing AAPL and BRK, it's only fitting to start with a quote from Warren Buffett on the difference between accounting EPS and owners' earnings (“OE”). The following is taken from Berkshire Hathaway's 1986 annual report (slightly edited with emphases added by me):These represent (“a”) reported earnings plus (“b”) depreciation, depletion, amortization, and certain other non-cash charges...less (“c”) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (“c”) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (“a”) plus (“b”) - but do not subtract (“c”).The key is to estimate item c, and my analysis of item c for AAPL is shown in the table below. This table is based off Bruce Greenwald’s method (detailed in his book Value Investing) to separate maintenance capex and growth capex. Readers interested in the details could find them in my earlier article or his book.To wit, AAPL’s TTM accounting EPS came in at $6.11 per share as aforementioned. However, its OE is about $7.18 per share, about 18% higher. The reason for this higher OE is the accounting EPS considered all CAPEX to be a cost, while only the maintenance capex should be considered as costs as Buffett explained above. In AAPL’s case, the discrepancy should be obvious as its accounting EPS is even lower than its FCF (free cash flow) by about 13%, and then even the FCF is an underestimate of the true OE (again because the FCF calculation also considered all the capex expenses to costs). The third column in the table shows my forecast for the next year. And as you can see, the OE for Apple in the next year is projected to be $7.33 per share.All told, Apple's accounting PE is about 23x, a number all AAPL investors must be very familiar with. However, once you consider its OE, then the multiple is actually on the order of 20x for this year and slightly below 20x on an FW basis.Then finally, remember that Apple also carries a net cash position on its balance sheet (about $2.27 per share under its current conditions). Once you adjust the cash position too, its OE PE is on the order of 19.9x for this year and only 19.5x for next year.And in the next section, we will see how we can do even better through BRK.Backdoor AAPL via BRKAs mentioned earlier, the market value of BRK’s equity investment portfolio (based on dataroma) is at $296.1B As of this writing. AAPL is the largest position and is valued at $123.6B. So BRK’s equity investment excluding AAPL is worth about $173B, or $77 per share. The market capitalization for BRK is about $701B ($315 share price). Then also recall from its balance sheet, we know that there is $109 billion worth of cash sitting on its ledger.Putting all these above numbers together, we can show that:If we take out all the other equity investments except AAPL and the cash, BRK’s adjusted market cap is $420B (or $189 per share). This means if we buy BRK shares at $315 and then liquidate the cash and all other equity investments except AAPL, we effectively paid $189 for each BRK share only.Why does this $189 buy us then? First, we bought all the AAPL shares that BRK owns. As of this writing, BRK owns a total of 894.8 million shares of AAPL, translating into 0.40 AAPL shares contained per BRK share. BRK has been consistently buying back its own shares. And I project this trend to continue. Extrapolating its share repurchase from the previous quarters, the AAPL shares contained in each BRK share would increase to 0.41 next year as shown.Second, we also bought all the BRK operating segments too, which is what we will examine next.AAPL’s ownership PE via BRKBRK is projected to earn $12.9 per share of operating income in 2022, although 2022 may not be the most representative year. My best estimate for its normalized operating income is about $12 per share (or $26.7B in total), which is the assumption that I used in the analysis shown in the following table.Now just as established above, if we buy BRK shares at $315, we are effectively buying 0.40 AAPL shares (or 0.41 on an FW basis) and all the BRK operating segments for $189. The BRK operating segments would provide earnings of $12 per share as assumed above, and the 0.4 AAPL shares would provide an OE of $2.88 (=0.40*$7.18). Thus, we paid $189 and got a total of $14.88 per share of OE ($12 from BRK operations plus $2.88 from AAPL). On an FW basis, the earnings would further increase to $15.13 per share due to a combination of AAPL earnings growth and BRK’s share repurchases as discussed above.Now, how you compute the PE multiple here depends on how you value BRK’s operating income. The last row of the table shows an aggregated average, a sort of effective \"ownership\" PE of AAPL and BRK together, which turned out to be 12.7x based on 2022 financials and 12.1x on an FW basis.If BRK’s operating income is priced at a 15x multiple – a quite reasonable multiple in my view, then BRK’s operating income would be worth $180 per share. Hence, we would be paying only $9 ($189-$12*15) for the 0.4 AAPL share, which provides $2.88 of OE. This means we would be owning the AAPL shares at a PE of about 3.1x only.Risks and final thoughtsSpecific risks for AAPL or BRK have been thoroughly discussed in other SA articles (including some of our own), and I won’t further add them here. Here I will focus on the risks and limitations associated with the particular backdoor idea described in this article.BRK’s cash position. In this analysis, I assumed that you could liquidate all the cash on its ledger. But of course, a good part of the cash is insurance float and cannot be liquidated (at least cannot be entirely liquidated). But there also are good reasons behind the approach that I used – at least as a thought experiment to analyze the financials and valuation. After all, cash is cash. If you buy BRK completely, every $1 in the insurance float still counts as $1.Worth of BRK’s equity portfolio. The market valuation of BRK’s equity portfolio is always a moving target and changes on a daily basis with the market volatilities. Hence, there is some uncertainty here too. As aforementioned, the current portfolio value of $296.1B is already below the $306B disclosed in its 10-K back in September.Nonetheless, it’s always better to be approximately right than precisely wrong. And the bigger picture I see here are:Owning a perpetual compounder like AAPL near or below 20x OE is a no-brainer to me. And under Apple’s current conditions, with the cash position and underestimation of accounting EPS adjusted, a ~$145 stock price should translate into a 20x OE or below.The discrepancy between accounting PE and OE PE is even larger than BRK. And once these discrepancies are corrected, we can own Apple shares with an effective “ownership” PE through BRK at heavy discounts. The exact discounts depend on how your value BRK’s operating income, which can lead to an ownership PE of AAPL in the range of ~12x to free based on my analyses.","news_type":1},"isVote":1,"tweetType":1,"viewCount":650,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9967094321,"gmtCreate":1670221446864,"gmtModify":1676538323764,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hhh","listText":"Hhh","text":"Hhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9967094321","repostId":"2288946354","repostType":4,"repost":{"id":"2288946354","pubTimestamp":1670206384,"share":"https://ttm.financial/m/news/2288946354?lang=&edition=fundamental","pubTime":"2022-12-05 10:13","market":"us","language":"en","title":"5 Monster Stocks to Buy Before 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2288946354","media":"Motley Fool","summary":"These companies offer solid buying opportunities right now.","content":"<html><head></head><body><p>The bear market may not feel like a great time for investing. But here&#39;s the thing: It actually is one of the <i>best</i> times to buy stocks. That&#39;s because you can pick up stocks that may have been expensive in the past for a bargain. In many cases, we&#39;re talking about market leaders and companies that have become household names.</p><p>Bear markets don&#39;t last forever (thankfully). So, these solid players could rebound and thrive at any moment. That means right now is the time to get in on companies that have what it takes to lift your portfolio over the long term. Let&#39;s check out five monster stocks to buy before 2023.</p><h2>1. <a href=\"https://laohu8.com/S/AMZN\">Amazon</a></h2><p><b>Amazon</b> (AMZN) has had a tough year. The e-commerce and cloud computing giant has reported quarter after quarter of declines in operating income. And free cash flow has even shifted to an outflow. That&#39;s as higher inflation increased Amazon&#39;s costs and weighed on the wallets of its customers.</p><p>Things don&#39;t look great for the company right now. But the key words are &#34;right now.&#34; The long-term picture remains extremely bright. The e-commerce and cloud computing services markets are forecast to grow in the double digits this decade. Amazon, as a leader, should benefit.</p><p>Also, today&#39;s tough times have prompted the company to improve its cost structure. That will serve it well in the future. It has shifted its investments to favor its cloud computing business, Amazon Web Services. That business still is posting double-digit growth in operating income and revenue.</p><p>As for e-commerce, Amazon this fall reached record sign-ups for its U.S. Prime subscription service. That, too, is another great sign for the future.</p><p>Amazon trades for its cheapest in relation to sales since 2015. Through a long-term lens, the stock looks dirt cheap.</p><h2>2. <a href=\"https://laohu8.com/S/DIS\">Disney</a></h2><p><b>Disney</b> (DIS) has reached a big turning point. The entertainment giant has reported growth in its parks, experiences, and products business. And it&#39;s made great progress in signing on members to its streaming services -- adding 57 million this year. But Disney is struggling with higher costs. And its shares have tumbled 36% this year.</p><p>But here&#39;s the good news. Disney recently brought back longtime Chief Executive Officer Bob Iger. He&#39;s the one responsible for successes like the purchases of Pixar and Marvel. He is also the CEO behind the blockbuster film <i>Frozen</i>.</p><p>Iger proved himself when it comes to general growth at Disney. During his tenure, market value, revenue, and profit climbed in the triple digits. All of this means he is probably the best person to put Disney back on the right track.</p><p><img src=\"https://static.tigerbbs.com/9b17c5eb0a02b001f785d54ec60be4b0\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/></p><p>DIS Market Cap data by YCharts</p><p>The strength in the parks business is another bright spot. That business&#39; revenue rose 73% in the recently ended fiscal year. And parks, experiences, and products traditionally has contributed the most to the company&#39;s total revenue.</p><p>Today, Disney trades for about half of what it was trading for earlier this year -- that&#39;s in relation to forward earnings estimates. So now is time to get in on this recovery story.</p><p><img src=\"https://static.tigerbbs.com/c96ed2ef42b4e17257e5d9a6bb65cec4\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/></p><p>DIS PE Ratio (Forward) data by YCharts</p><h2>3. <a href=\"https://laohu8.com/S/ETSY\">Etsy</a></h2><p><b>Etsy</b> (ETSY) soared during the early days of the pandemic, when people opted for online shopping over in-store visits. The company is a platform connecting sellers of handmade items with buyers.</p><p>Since then, Etsy&#39;s growth has slowed. And the shares are heading for a 36% loss this year. That said, the company is weathering the economic storm better than most retailers. Sellers are small businesses, so elements like supply chain issues and inventory woes are less of a problem.</p><p>Etsy actually managed to grow its marketplace gross merchandise sales (GMS) 0.2% in the third quarter. That&#39;s excluding the impact of currency exchanges. And if we compare it with the pre-pandemic third quarter of 2019, GMS jumped 134%.</p><p>The company also has done a great job of growing its audience -- and keeping shoppers loyal. Habitual buyers made up 46% of GMS in the quarter. And Etsy brought in 6 million new buyers.</p><p>Today, it trades for 33 times forward earnings estimates. That&#39;s down from more than 60 earlier this year. Considering Etsy&#39;s strength in revenue and the loyalty of its shoppers, future prospects look good. And that&#39;s why today&#39;s price is a real bargain.</p><h2>4. <a href=\"https://laohu8.com/S/ISRG\">Intuitive Surgical</a></h2><p><a href=\"https://laohu8.com/S/ISRG\">Intuitive Surgical </a> is the global leader in robotic surgery -- by far. The company holds nearly 80% of the market, according to BIS Research. And this leadership is likely to continue for two reasons.</p><p>First, surgical robots cost more than $1 million. So once a hospital has made this sort of investment, it&#39;s likely to stick with it. Second, most surgeons are trained on Intuitive&#39;s flagship da Vinci system. It&#39;s unlikely they&#39;ll want to switch to an entirely new system from one they know well.</p><p>What else to like about Intuitive? Its revenue model doesn&#39;t depend only on the sales of these robots. Intuitive also has a source of recurrent revenue. And this revenue actually surpasses that of robot sales. I&#39;m talking about sales of the instruments and accessories that surgeons need for each procedure.</p><p>Intuitive&#39;s recent share performance doesn&#39;t reflect this great business model. This year, the stock is heading for a 23% decline. The company suffered on and off during the pandemic as hospitals postponed surgeries. That meant hospitals didn&#39;t have to invest in instruments right away. They also didn&#39;t focus on buying new robotic systems.</p><p>Today, Intuitive trades at 58 times forward earnings estimates. That&#39;s compared with more than 72 earlier this year. Considering the long-term leadership picture, now is time to load up on this healthcare player.</p><h2>5. <a href=\"https://laohu8.com/S/HD\">Home Depot</a></h2><p><b>Home Depot</b>&#39;s (HD) earnings have defied the bear market. But its stock performance hasn&#39;t. The shares are heading for a 21% drop this year. And the shares are a screaming buy at less than 20 times forward earnings estimates.</p><p>The world&#39;s biggest home-improvement retailer says demand has remained strong in both its do-it-yourself (DIY) business and professional business. Importantly, the pros say their project backlogs are strong. This suggests they will continue to shop at Home Depot in the coming months as they launch these new projects. And that&#39;s great news for Home Depot&#39;s revenue.</p><p>The pro market totals $450 billion, offering Home Depot room for growth. The company is making efforts to keep these customers and its DIY shoppers loyal.</p><p>For example, it&#39;s adding new features to its app to streamline the shopping experience. The efforts are working. The company has seen double-digit growth all year in monthly active users. That&#39;s compared with last year.</p><p>And in the most recent quarter, 11 of the 14 merchandising areas posted positive comparable sales. All of this means there&#39;s reason to be optimistic about Home Depot&#39;s future earnings. And earnings growth could translate into major share gains. So, now, before 2023, is the perfect time to add this winning player to your portfolio.</p></body></html>","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>5 Monster Stocks to Buy Before 2023</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Monster Stocks to Buy Before 2023\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-05 10:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/12/03/5-monster-stocks-to-buy-before-2023/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The bear market may not feel like a great time for investing. But here's the thing: It actually is one of the best times to buy stocks. That's because you can pick up stocks that may have been ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/03/5-monster-stocks-to-buy-before-2023/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼","HD":"家得宝","ISRG":"直觉外科公司","AMZN":"亚马逊","ETSY":"Etsy, Inc."},"source_url":"https://www.fool.com/investing/2022/12/03/5-monster-stocks-to-buy-before-2023/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2288946354","content_text":"The bear market may not feel like a great time for investing. But here's the thing: It actually is one of the best times to buy stocks. That's because you can pick up stocks that may have been expensive in the past for a bargain. In many cases, we're talking about market leaders and companies that have become household names.Bear markets don't last forever (thankfully). So, these solid players could rebound and thrive at any moment. That means right now is the time to get in on companies that have what it takes to lift your portfolio over the long term. Let's check out five monster stocks to buy before 2023.1. AmazonAmazon (AMZN) has had a tough year. The e-commerce and cloud computing giant has reported quarter after quarter of declines in operating income. And free cash flow has even shifted to an outflow. That's as higher inflation increased Amazon's costs and weighed on the wallets of its customers.Things don't look great for the company right now. But the key words are \"right now.\" The long-term picture remains extremely bright. The e-commerce and cloud computing services markets are forecast to grow in the double digits this decade. Amazon, as a leader, should benefit.Also, today's tough times have prompted the company to improve its cost structure. That will serve it well in the future. It has shifted its investments to favor its cloud computing business, Amazon Web Services. That business still is posting double-digit growth in operating income and revenue.As for e-commerce, Amazon this fall reached record sign-ups for its U.S. Prime subscription service. That, too, is another great sign for the future.Amazon trades for its cheapest in relation to sales since 2015. Through a long-term lens, the stock looks dirt cheap.2. DisneyDisney (DIS) has reached a big turning point. The entertainment giant has reported growth in its parks, experiences, and products business. And it's made great progress in signing on members to its streaming services -- adding 57 million this year. But Disney is struggling with higher costs. And its shares have tumbled 36% this year.But here's the good news. Disney recently brought back longtime Chief Executive Officer Bob Iger. He's the one responsible for successes like the purchases of Pixar and Marvel. He is also the CEO behind the blockbuster film Frozen.Iger proved himself when it comes to general growth at Disney. During his tenure, market value, revenue, and profit climbed in the triple digits. All of this means he is probably the best person to put Disney back on the right track.DIS Market Cap data by YChartsThe strength in the parks business is another bright spot. That business' revenue rose 73% in the recently ended fiscal year. And parks, experiences, and products traditionally has contributed the most to the company's total revenue.Today, Disney trades for about half of what it was trading for earlier this year -- that's in relation to forward earnings estimates. So now is time to get in on this recovery story.DIS PE Ratio (Forward) data by YCharts3. EtsyEtsy (ETSY) soared during the early days of the pandemic, when people opted for online shopping over in-store visits. The company is a platform connecting sellers of handmade items with buyers.Since then, Etsy's growth has slowed. And the shares are heading for a 36% loss this year. That said, the company is weathering the economic storm better than most retailers. Sellers are small businesses, so elements like supply chain issues and inventory woes are less of a problem.Etsy actually managed to grow its marketplace gross merchandise sales (GMS) 0.2% in the third quarter. That's excluding the impact of currency exchanges. And if we compare it with the pre-pandemic third quarter of 2019, GMS jumped 134%.The company also has done a great job of growing its audience -- and keeping shoppers loyal. Habitual buyers made up 46% of GMS in the quarter. And Etsy brought in 6 million new buyers.Today, it trades for 33 times forward earnings estimates. That's down from more than 60 earlier this year. Considering Etsy's strength in revenue and the loyalty of its shoppers, future prospects look good. And that's why today's price is a real bargain.4. Intuitive SurgicalIntuitive Surgical  is the global leader in robotic surgery -- by far. The company holds nearly 80% of the market, according to BIS Research. And this leadership is likely to continue for two reasons.First, surgical robots cost more than $1 million. So once a hospital has made this sort of investment, it's likely to stick with it. Second, most surgeons are trained on Intuitive's flagship da Vinci system. It's unlikely they'll want to switch to an entirely new system from one they know well.What else to like about Intuitive? Its revenue model doesn't depend only on the sales of these robots. Intuitive also has a source of recurrent revenue. And this revenue actually surpasses that of robot sales. I'm talking about sales of the instruments and accessories that surgeons need for each procedure.Intuitive's recent share performance doesn't reflect this great business model. This year, the stock is heading for a 23% decline. The company suffered on and off during the pandemic as hospitals postponed surgeries. That meant hospitals didn't have to invest in instruments right away. They also didn't focus on buying new robotic systems.Today, Intuitive trades at 58 times forward earnings estimates. That's compared with more than 72 earlier this year. Considering the long-term leadership picture, now is time to load up on this healthcare player.5. Home DepotHome Depot's (HD) earnings have defied the bear market. But its stock performance hasn't. The shares are heading for a 21% drop this year. And the shares are a screaming buy at less than 20 times forward earnings estimates.The world's biggest home-improvement retailer says demand has remained strong in both its do-it-yourself (DIY) business and professional business. Importantly, the pros say their project backlogs are strong. This suggests they will continue to shop at Home Depot in the coming months as they launch these new projects. And that's great news for Home Depot's revenue.The pro market totals $450 billion, offering Home Depot room for growth. The company is making efforts to keep these customers and its DIY shoppers loyal.For example, it's adding new features to its app to streamline the shopping experience. The efforts are working. The company has seen double-digit growth all year in monthly active users. That's compared with last year.And in the most recent quarter, 11 of the 14 merchandising areas posted positive comparable sales. All of this means there's reason to be optimistic about Home Depot's future earnings. And earnings growth could translate into major share gains. So, now, before 2023, is the perfect time to add this winning player to your portfolio.","news_type":1},"isVote":1,"tweetType":1,"viewCount":310,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9964057474,"gmtCreate":1670039195898,"gmtModify":1676538293983,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9964057474","repostId":"1152464265","repostType":4,"repost":{"id":"1152464265","pubTimestamp":1670022054,"share":"https://ttm.financial/m/news/1152464265?lang=&edition=fundamental","pubTime":"2022-12-03 07:00","market":"us","language":"en","title":"11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall","url":"https://stock-news.laohu8.com/highlight/detail?id=1152464265","media":"Bloomberg","summary":"Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Ha","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/cb8b5a354d9d687bd95cdff74dddc508\" tg-width=\"1214\" tg-height=\"811\" width=\"100%\" height=\"auto\"/></p><p>Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Halloween party are still hanging from a doorway. Two boxes of Legos sit on the floor of one bedroom. And then there are the shoes—dozens of sneakers and heels piled in the foyer, left behind by employees who fled the island of New Providence last month when his cryptocurrency exchangeFTX imploded.</p><p>“It’s been an interesting few weeks,” Bankman-Fried says in a chipper tone as he greets me. It’s a muggy Saturday afternoon, eight days after FTX filed for bankruptcy. He’s shoeless, in white gym socks, a red T-shirt and wrinkled khaki shorts. His standard uniform.</p><p>This isn’t part of the typical tour Bankman-Fried gave to the many reporters who came to tell the tale of the boy-genius-crypto-billionaire who slept on a beanbag chair next to his desk and only got rich so he could give it all away, and it’s easy to see why. The apartment is at the top of one of the luxury condo buildings that border a marina in a gated community called Albany. Outside, deckhands buff the stanchions of a 200-foot yacht owned by a fracking billionaire. A bronze replica of Wall Street’s<i>Charging Bull</i>statue stands on the lawn, which is as manicured as the residents. I feel like I’ve crash-landed on an alien planet populated solely by the very rich and the people who work for them.</p><p>Bankman-Fried leads me down a marble-floored hallway to a small bedroom, where he perches on a plush brown couch. Always known for being jittery, he taps his foot so hard it rattles a coffee table, smacks gum and rubs his index finger with his thumb like he’s twirling an invisible fidget spinner. But he seems almost cheerful as he explains why he’s invited me into his 12,000-square-foot bolthole, against the advice of his lawyers, even as investigators from theUS Department of Justice probewhether he used customers’ funds to prop up his hedge fund, a crime that could send him to prison for years. (Spoiler alert: It sure looks like he did.)</p><p>“What I’m focusing on is what I can do, right now, to try and make things as right as possible,” Bankman-Fried says. “I can’t do that if I’m just focused on covering my ass.”</p><p>But he seems to be doing just that, with me here and all along the apology tour he’ll later embark on, which will include a video appearance at a<i>New York Times</i>conference and an interview on<i>Good Morning America</i>. He’s been trying to blame his firm’s failure on a hazy combination of comically poor bookkeeping, wildly misjudged risks and complete ignorance of what his hedge fund was doing. In other words, an alumnus of both MIT and the elite Wall Street trading firmJane Streetis arguing that he was just dumb with the numbers—not pulling a conscious fraud. Talking in detail to journalists about what’s certain to be the subject of extensive litigation seems like an unusual strategy, but it makes sense: The press helped him create his only-honest-man-in-crypto image, so why not use them to talk his way out of trouble?</p><p><img src=\"https://static.tigerbbs.com/79b2ba9ef6da8454146f200cdc460f6e\" tg-width=\"1000\" tg-height=\"666\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Bankman-Fried after an interview on<i>Bloomberg Wealth With David Rubenstein</i>on Aug. 17, 2022.Photographer: Jeenah Moon/Bloomberg</p><p>He doesn’t say so, but one reason he might be willing to speak with me is that I’m one of the reporters who helped build him up. After spending two days at FTX’s offices in February, I flew past the brightred flagsat his company—its lack of corporate governance, the ties to his Alameda Research hedge fund, its profligate spending on marketing, the fact that it operated largely outside US jurisdiction. Iwrote a storyfocused on whether Bankman-Fried would follow through on his plans to donate huge sums to charity and his connections to an unusual philanthropic movement calledeffective altruism.</p><p>It wasn’t the most embarrassingly puffy of the many puff pieces that came out about him. (“After my interview with SBF, I was convinced: I was talking to a future trillionaire,” one writer said in an article commissioned by a venture capital firm.) But my tone wasn’t entirely dissimilar. “Bankman-Fried is a thought experiment from a college philosophy seminar come to life,” I wrote. “Should someone who wants to save the world first amass as much money and power as possible, or will the pursuit corrupt him along the way?” Now it seems pretty clear that a better question would’ve been whether the business was ascam from the start.</p><p>I tell Bankman-Fried I want to talk about the decisions that led to FTX’s collapse, and why he took them. Earlier in the week, inlate-night DM exchangeswith a<i>Vox</i>reporter and on a phone call with a YouTuber, he made comments that many interpreted as an admission that everything he said was a lie. (“So the ethics stuff, mostly a front?” the<i>Vox</i>reporter asked. “Yeah,” Bankman-Fried replied.) He’d spoken so cynically about his motivations that to many it seemed like a comic book character was pulling off his mask to reveal the villain who’d been hiding there all along.</p><p>I set out on this visit with a different working theory. Maybe I was feeling the tug of my past reporting, but I still didn’t think the talk about charity was all made up. Since he was a teenager, Bankman-Fried has described himself as utilitarian—following the philosophy that the correct action is the one likely to result in the greatest good for the greatest number of people. He said his endgame was making and donating enough money to prevent pandemics and stop runaway artificial intelligence from destroying humanity. Faced with a crisis, and believing he was the hero of his own sci-fi movie, he might’ve thought it was right to make a crazy, even illegal, gamble to save his company.</p><p>To be clear, if that’s what happened, it’s the logic of a megalomaniac, not a martyr. The money wasn’t his to gamble with, and “the ends justify the means” is a cliché of bad ethics. But if it’s what he believed, he might still think he’d made the right decision, even if it didn’t work out. It seemed to me that’s what he meant when he messaged<i>Vox</i>, “The worst quadrant is sketchy + lose. The best is win + ???” I want to probe that, in part because it might get him to talk more candidly about what had happened to his customers’ money.</p><p>I decide to approach the topic gingerly, on terms I think he’ll relate to, as it seems he’s in less of a crime-confess-y mood. He’s said he likes to evaluate decisions in terms of expected value—the odds of success times the likely payoff—so I begin by asking: “Should I judge you by your impact, or by the expected value of your decision?”</p><p>“When all is said and done, what matters is your actual realized impact. Like, that’s what actually matters to the world,” he says. “But, obviously, there’s luck.”</p><p>That’s the in I’m looking for. For the next 11 hours—with breaks for fundraising calls and a very awkward dinner—I try to get him to tell me exactly what he meant. He denies that he’s committed fraud or lied to anyone and blames FTX’s failure on his sloppiness and inattention. But at points it seems like he’s saying he got<i>un</i>lucky, or miscalculated the odds.</p><p>Bankman-Fried tells me he’s still got a chance to raise $8 billion to save his company. He seems delusional, or committed to pretending this is still an error he can fix, and either way, the few supporters remaining at his penthouse seem unlikely to set him straight. The grim scene reminds me a bit of the end of<i>Scarface</i>, with Tony Montana holed up in his mansion, semi-incoherent, his unknown enemies sneaking closer. But instead of mountains of cocaine, Bankman-Fried is clinging to spreadsheet tabs filled with wildly optimistic cryptocurrency valuations.</p><p>Think of FTX like an offshore casino. Customers sent in money, then gambled on the price of hundreds ofcryptocurrencies—not just Bitcoin or Ether, but more obscure coins. In crypto slang, the latter are called shitcoins, because almost no one knows what they’re for. But in the past few years, otherwise respectable people, from retired dentists to heads of state, convinced themselves that these coins werethe future of finance. Or at least that enough other people might think so to make the price go up. Bankman-Fried’s casino was growing so fast that earlier this year some of Silicon Valley’s top venture capitalists invested in it at a $32 billion valuation.</p><p>The problem surfaced last month. After a rival crypto-casino kingpin raised concerns about FTX on Twitter, customers rushed to cash in their chips. But when Bankman-Fried’s casino opened the vault, their money wasn’t there. According to multiple news reports citing people familiar with the matter, it had been secretly lent to Bankman-Fried’s hedge fund, which had lost it in some mix of bad bets, insane spending and perhaps something even sketchier. John Ray III, the lawyer who’s now chief executive officer of the bankrupt exchange, has alleged in court that FTX covered up the loans using secret software.</p><p>Bankman-Fried denies this again to me. Returning to the framework of expected value, I ask him if the decisions he made were correct.</p><p>“I think that I’ve made a lot of plus-EV decisions and a few very large boneheaded decisions,” he says. “Certainly in retrospect, those very large decisions were very bad, and may end up overwhelming everything else.”</p><p>The chain of events, in his telling, started about four years ago. Bankman-Fried was in Hong Kong, where he’d moved from Berkeley, California, with a small group of friends from the effective-altruism community. Together they ran a successful startup crypto hedge fund,Alameda Research. (The name itself was an early example of his casual attitude toward rules—it was chosen to avoid scrutiny from banks, which frequently closed its accounts. “If we named our company like, Shitcoin Daytraders Inc., they’d probably just reject us,” Bankman-Fried told a podcaster in 2021. “But, I mean, no one doesn’t like research.”)</p><p>The fund had made millions of dollars exploiting inefficiencies across cryptocurrency exchanges. (Ex-employees, even those otherwise critical of Bankman-Fried, have said this is true, though some have said Alameda then lost some of that money because of bad trades and mismanagement.) Bankman-Fried and his friends began considering starting their own exchange—what would become FTX.</p><p>The way Bankman-Fried later described this decision reveals his attitude toward risk. He estimated there was an 80% chance the exchange would fail to attract enough customers. But he’s said one should always take a bet, even a long-shot one, if the expected value is positive, calling this stance “risk neutral.” But it actually meant he would take risks that to a normal person sound insane. “As an individual, to make a bet where it’s like, ‘I’m going to gamble my $10 billion and either get $20 billion or $0, with equal probability,’ would be madness,” Rob Wiblin, host of an effective-altruism podcast, said to Bankman-Fried in April. “But from an altruistic point of view, it’s not so crazy.”</p><p>“Completely agree,” Bankman-Fried replied. He told another interviewer that he’d make a bet described as a chance of “51% you double the earth out somewhere else, 49% it all disappears.”</p><p>Bankman-Fried and his friends jump-started FTX by having Alameda provide liquidity. It was a huge conflict of interest. Imagine if the top executives at an online poker site also entered its high-stakes tournaments—the temptation to cheat by peeking at other players’ cards would be huge. But Bankman-Fried assured customers that Alameda would play by the same rules as everyone else, and enough people came to trade that FTX took off. “Having Alameda provide liquidity on FTX early on was the right decision, because I think that helped make FTX a great product for users, even though it obviously ended up backfiring,” Bankman-Fried tells me.</p><p>Part of FTX’s appeal was that it was mostly a derivatives exchange, which allowed customers to trade “on margin,” meaning with borrowed money. That’s a key to his defense. Bankman-Fried argues no one should be surprised that big traders on FTX, including Alameda, were borrowing from the exchange, and that his fund’s position just somehow got out of hand. “Everyone was borrowing and lending,” he says. “That’s been its calling card.” But FTX’s normal margin system, crypto traders tell me, would never have permitted anyone to accumulate a debt that looked like Alameda’s. When I ask if Alameda had to follow the same margin rules as other traders, he admits the fund did not. “There was more leeway,” he says.</p><p>That wouldn’t have been so important had Alameda stuck to its original trading strategy of relatively low-risk arbitrage trades. But in 2020 and 2021, as Bankman-Fried became the face of FTX, amajor political donorand a favorite of Silicon Valley, Alameda faced more competition in that market-making business. It shifted its strategy to, essentially, gambling on shitcoins.</p><p>As Caroline Ellison, then Alameda’s co-CEO, explained in aMarch 2021 post on Twitter: “The way to really make money is figure out when the market is going to go up and get balls long before that,” she wrote, adding that she’d learned the strategy from the classic market-manipulation memoir,<i>Reminiscences of a Stock Operator.</i>Her co-CEO said in another tweet that a profitable strategy was buying Dogecoin becauseElon Musktweeted about it.</p><p>The reason they were bragging about what sounded like a high schooler’s tactics was that it was working better than anyone knew. When we spoke in February 2022, Bankman-Fried told me that Alameda had made $1 billion the previous year. He now says that was Alameda’s arbitrage profits. On top of that, its shitcoins gained tens of billions of dollars of value, at least on paper. “If you mark everything to market, I do believe at one point my net worth got to $100 billion,” Bankman-Fried says.</p><p>Any trader would know this wasn’t nearly as good as it sounded. The large pile of tokens couldn’t be turned into cash without crashing the market. Much of it was even made of tokens that Bankman-Fried and his friends had spun up themselves, such as FTT, Serum or Maps—the official currency of a nonsensical crypto-meets-mapping app—or were closely affiliated with, like Solana. While Bankman-Fried acknowledges the pile was worth something less than $100 billion—maybe he’d mark it down a third, he says—he maintains that he could have extracted quite a lot of real money from his holdings.</p><p>But he didn’t. Instead, Alameda borrowed billions of dollars from other crypto lenders—not FTX—and sunk them into more crypto bets. Publicly, Bankman-Fried presented himself as an ethical operator andcalled for regulationto rein in crypto’s worst excesses. But through his hedge fund, he’d actually become the market’s most degenerate gambler. I ask him why, if he really thought he could sell the tokens, he didn’t. “Why not, like, take some risk off?”</p><p>“OK. In retrospect, absolutely. That would’ve been the right, like, unambiguously the right thing to do,” he says. “But also it was just, like, hilariously well-capitalized.”</p><p>Near the peak of the great shitcoin boom, in April 2022, FTX hosted a lavish conference at a resort and casino in Nassau. It was Bankman-Fried’s coming out party. He got to share the stage with quarterback Tom Brady. Also there: former Prime Minister Tony Blair and ex-President Bill Clinton, who extended a fatherly hand when the young crypto executive seemed nervous. The author Michael Lewis, who’s working on a book about Bankman-Fried, praised him in a fawning interview onstage. “You’re breaking land speed records. And I don’t think people are really noticing what’s happened, just how dramatic the revolution has become,” Lewis said, asking when crypto would take over Wall Street.</p><p>The next month, thecrypto crash began. It started when a popular set of coins called Terra and Luna collapsed, wiping out $60 billion. Terra and Luna were almost openly a Ponzi scheme, but some of the biggest crypto funds had invested in them with borrowed money and went bankrupt. This made the lenders who’d lent billions of dollars to Alameda nervous. They asked Alameda to repay the loans, with real money. It needed billions of dollars, fast, or it would go bust.</p><p>There are two different versions of what happened next. Two people with knowledge of the matter told me that Ellison, by then the sole head of Alameda, had told her side of the story to her staff amid the crisis. Ellison said that she, Bankman-Fried and his two top lieutenants—Gary Wang and Nishad Singh—had discussed the shortfall. Instead of admitting Alameda’s failure, they decided to use FTX customer funds to cover it, according to the people. If that’s true, all four executives would’ve knowingly committed fraud. (Ellison, Wang and Singh didn’t respond to messages seeking comment.)</p><p>When I put this to Bankman-Fried, he screws up his eyes, furrows his eyebrows, puts his hands in his hair and thinks for a few seconds.</p><p>“So, it’s not how I remember what happened,” Bankman-Fried says. But he surprises me by acknowledging that there had been a meeting, post-Luna crash, where they debated what to do about Alameda’s debts. The way he tells it, he was packing for a trip to DC and “only kibitzing on parts of the discussion.” It didn’t seem like a crisis, he says. It was a matter of extending a bit more credit to a fund that already traded on margin and still had a pile of collateral worth way more than enough to cover the loan. (Although the pile of collateral was largely shitcoins.)</p><p>“That was the point at which Alameda’s margin position on FTX got, well, it got more leveraged substantially,” he says. “Obviously, in retrospect, we should’ve just said no. I sort of didn’t realize then how large the position had gotten.”</p><p>“You were all aware there was a chance this would not work,” I say.</p><p>“That’s right,” he says. “But I thought that the risk was substantially smaller.”</p><p>I try to imagine what he could’ve been thinking. If FTX had liquidated Alameda’s position, the fund would’ve gone bankrupt, and even if the exchange didn’t take direct losses, customers would’ve lost confidence in it. Bankman-Fried points out that the companies that lent money to Alameda might have failed, too, causing a hard-to-predict cascade of events.</p><p>“Now let’s say you don’t margin call Alameda,” I posit. “Maybe you think there’s like a 70% chance everything will be OK, it’ll all work out?”</p><p>“Yes, but also in the cases where it didn’t work out, I thought the downside was not nearly as high as it was,” he says. “I thought that there was the risk of a much smaller hole. I thought it was going to be manageable.”</p><p>Bankman-Fried pulls out his laptop (an Acer Predator) and opens a spreadsheet to show what he meant. It’s similar to thebalance sheethe reportedly showed investors when he was seeking a last-minute bailout, which he says consolidated FTX and Alameda’s positions because by then the fund had defaulted on its debt. On one line—labeled “What I *thought*”—he lists $8.9 billion in debts and way more than enough money to pay them: $9 billion in liquid assets, $15.4 billion in “less liquid” assets and $3.2 billion in “illiquid” ones. He tells me this was more or less the position he was considering when he had the meeting with the other executives.</p><p>“It looks naively to me like, you know, there’s still some significant liabilities out there, but, like, we should be able to cover it,” he says.</p><p>“So what’s the problem, then?”</p><p>Bankman-Fried points to another place on the spreadsheet, which he says shows the actual truth of the situation at the time of the meeting. This one shows similar numbers, but with $8 billion less liquid assets.</p><p>“What’s the difference between these two rows here?” he asks.</p><p>“You didn’t have $8 billion in cash that you thought you had,” I say.</p><p>“That’s correct. Yes.”</p><p>“You misplaced $8 billion?” I ask.</p><p>“Misaccounted,” Bankman-Fried says, sounding almost proud of his explanation. Sometimes, he says, customers would wire money to Alameda Research instead of sending it directly to FTX. (Some banks were more willing to work with the hedge fund than the exchange, for some reason.) He claims that somehow, FTX’s internal accounting system double-counted this money, essentially crediting it to both the exchange and the fund.</p><p>That still doesn’t explain why the money was gone. “Where did the $8 billion go?” I ask.</p><p>To answer, Bankman-Fried creates a new tab on the spreadsheet and starts typing. He lists Alameda and FTX’s biggest cash flows. One of the biggest expenses is paying a net $2.5 billion toBinance, a rival, to buy out its investment in FTX. He also lists $250 million for real estate, $1.5 billion for expenses, $4 billion for venture capital investments, $1.5 billion for acquisitions and $1 billion labeled “fuckups.” Even accounting for both firms’ profits, and all the venture capital money raised by FTX, it tallies to negative $6.5 billion.</p><p>Bankman-Fried is telling me that the billions of dollars customers wired to Alameda is gone simply because the companies spent way more than they made. He claims he paid so little attention to his expenses that he didn’t realize he was spending more than he was taking in. “I was real lazy about this mental math,” the former physics major says. He creates another column in his spreadsheet and types in much lower numbers to show what he thought he was spending at the time.</p><p>It seems to me like he is, without saying it exactly, blaming his underlings for FTX’s failure, especially Ellison, the head of Alameda. The two had dated and lived together at times. She was part of Bankman-Fried’s Future Fund, which was supposed to distribute FTX and Alameda’s earnings to effective-altruist-approved causes. It seems unlikely she would’ve blown billions of dollars without asking. “People might take, like, the TLDR as, like, it was my ex-girlfriend’s fault,” I tell him. “That is sort of what you’re saying.”</p><p>“I think the biggest failure was that it wasn’t entirely clear whose fault it was,” he says.</p><p>Bankman-Fried tells me he has to make a call. After a while, the sun goes down and I’m hungry. I’m allowed to join a group of Bankman-Fried’s supporters for dinner, as long as I don’t mention their names.</p><p>With the curtains drawn, the living room looks considerably less grand than it does in pictures. I’ve been told that FTX employees gathered here amid the crisis, while Bankman-Fried worked in another apartment. Addled by stress and sleep deprivation, they wept and hugged one another. Most didn’t say goodbye as they left the island, one by one. Many flew back to their childhood homes to be with their parents.</p><p>The supporters at the dinner tell me they feel like the press has been unfair. They say that Bankman-Fried and his friends weren’t the polyamorous partiers the tabloids have portrayed and that they did little besides work. Earlier in the week, a Bahamian man who’d served as FTX’s round-the-clock chauffeur and gofer also told me the reports weren’t true. “People make it seem like this big<i>Wolf of Wall Street</i>thing,” he said. “Bro, it was a bunch of nerds.”</p><p><img src=\"https://static.tigerbbs.com/b87535c118f069e782e80762398d0a9c\" tg-width=\"1000\" tg-height=\"1000\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Illustration: Maxime Mouysset for Bloomberg Businessweek</p><p>By the time I finish my plate of off-the-record rice and beans, Bankman-Fried is free again. We return to the study. He’s barefoot now, having balled up his gym socks and stuffed them behind a couch cushion. He lies on the couch, his computer on his lap. The light from the screen casts shadows of his curls on his forehead.</p><p>I notice a skin-colored patch on his arm. He tells me it’s a transdermal antidepressant, selegiline. I ask if he’s using it as a performance enhancer or to treat depression. “Nothing’s binary,” he says. “But I’ve been borderline depressed for my whole life.” He adds that he also sometimes takes Adderall—“10 milligrams at a time, a few times a day”—as did some of his colleagues, but that talk of drug use is overblown. “I don’t think that was the problem,” he says.</p><p>I tell Bankman-Fried my theory about his motivation, sidestepping the question of whether he misappropriated customer funds. Bankman-Fried denies that his world-saving goals made him willing to take giant gambles. As we talk more, it seems like he’s saying he made some kind of bet but hadn’t calculated the expected value properly.</p><p>“I was comfortable taking the risk that, like, I may end up kind of falling flat,” he says, staring at his computer screen, where he had pulled up a game and was leading an army of cartoon knights and fairies into battle. “But what actually happened was disastrously bad and, like, no significant chance of that happening would’ve made sense to risk, and that was a fuckup. Like, that was a mass miscalculation in downside.”</p><p>I read Bankman-Fried a post by Will MacAskill, one of the founders of the effective-altruism movement. He recruited Bankman-Fried into it when he was a junior at MIT and this year had joined the board of Bankman-Fried’s Future Fund. On Nov. 11,MacAskill wrote on Twitterthat Bankman-Fried had betrayed him. “For years, the EA community has emphasized the importance of integrity, honesty and the respect of common-sense moral constraints,” MacAskill wrote. “If customer funds were misused, then Sam did not listen; he must have thought he was above such considerations.”</p><p>Bankman-Fried closes his eyes and pushes his toes against one arm of the couch, clenching the other arm with his hands. “That’s not how I view what happened,” he says. “But I did fuck up. I think really what I want to say is, like, I’m really fucking sorry. By far the worst thing about this is that it will tarnish the reputation of people who are dedicated to doing nothing but what they thought was best for the world.” Bankman-Fried trails off. On his computer screen, his army casts spells and swings swords unattended.</p><p>I ask what he’d say to people who are comparing him to the most famous Ponzi schemer of recent times. “Bernie Madoff also said he had good intentions and gave a lot to charity,” I say.</p><p>“FTX was a legitimate, profitable, thriving business. And I fucked up by, like, allowing a margin position to get too big on it. One that endangered the platform. It was a completely unnecessary and unforced error, which like maybe I got super unlucky on, but, like, that was my bad.”</p><p>“It fucking sucks,” he adds. “But it wasn’t inherent to what the business was. It was just a fuckup. A huge fuckup.”</p><p>To me, it doesn’t really seem like a fuckup. Even if I believe that he misplaced and accidentally spent $8 billion, he’s already told me that Alameda had been allowed to violate FTX’s margin rules. This wasn’t some little technical thing. He was so proud of FTX’s margining system that he’d been lobbying regulators for it to be used on US exchanges instead of traditional safeguards. In May, Bankman-Fried himself said on Twitter that exchanges should never extend credit to a fund and put other customers’ assets at risk. He wrote that the idea an exchange would even have that discretion was “scary.” I read him the tweets and ask: “Isn’t that, like, exactly what you did, right around that time?”</p><p>“Yeah, I guess that’s kind of fair,” he says. Then he seems to claim that this was evidence the rules he was lobbying for were a good idea. “I think this is one of the things that would have stopped.”</p><p>“You had a rule on your platform. You didn’t follow it,” I say.</p><p>By now it’s past midnight, and—operating without the benefit of any prescription stimulants—I’m worn out. I ask Bankman-Fried if I can see the apartment’s deck before I leave. Outside, crickets chirp as we stand by the pool. The marina is dark, lit only by the spotlights of yachts. As I say goodbye, Bankman-Fried bites into a burger bun and starts talking about potential bailouts with one of his supporters.</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>11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall</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\">\n11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-03 07:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a ...</p>\n\n<a href=\"https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152464265","content_text":"Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Halloween party are still hanging from a doorway. Two boxes of Legos sit on the floor of one bedroom. And then there are the shoes—dozens of sneakers and heels piled in the foyer, left behind by employees who fled the island of New Providence last month when his cryptocurrency exchangeFTX imploded.“It’s been an interesting few weeks,” Bankman-Fried says in a chipper tone as he greets me. It’s a muggy Saturday afternoon, eight days after FTX filed for bankruptcy. He’s shoeless, in white gym socks, a red T-shirt and wrinkled khaki shorts. His standard uniform.This isn’t part of the typical tour Bankman-Fried gave to the many reporters who came to tell the tale of the boy-genius-crypto-billionaire who slept on a beanbag chair next to his desk and only got rich so he could give it all away, and it’s easy to see why. The apartment is at the top of one of the luxury condo buildings that border a marina in a gated community called Albany. Outside, deckhands buff the stanchions of a 200-foot yacht owned by a fracking billionaire. A bronze replica of Wall Street’sCharging Bullstatue stands on the lawn, which is as manicured as the residents. I feel like I’ve crash-landed on an alien planet populated solely by the very rich and the people who work for them.Bankman-Fried leads me down a marble-floored hallway to a small bedroom, where he perches on a plush brown couch. Always known for being jittery, he taps his foot so hard it rattles a coffee table, smacks gum and rubs his index finger with his thumb like he’s twirling an invisible fidget spinner. But he seems almost cheerful as he explains why he’s invited me into his 12,000-square-foot bolthole, against the advice of his lawyers, even as investigators from theUS Department of Justice probewhether he used customers’ funds to prop up his hedge fund, a crime that could send him to prison for years. (Spoiler alert: It sure looks like he did.)“What I’m focusing on is what I can do, right now, to try and make things as right as possible,” Bankman-Fried says. “I can’t do that if I’m just focused on covering my ass.”But he seems to be doing just that, with me here and all along the apology tour he’ll later embark on, which will include a video appearance at aNew York Timesconference and an interview onGood Morning America. He’s been trying to blame his firm’s failure on a hazy combination of comically poor bookkeeping, wildly misjudged risks and complete ignorance of what his hedge fund was doing. In other words, an alumnus of both MIT and the elite Wall Street trading firmJane Streetis arguing that he was just dumb with the numbers—not pulling a conscious fraud. Talking in detail to journalists about what’s certain to be the subject of extensive litigation seems like an unusual strategy, but it makes sense: The press helped him create his only-honest-man-in-crypto image, so why not use them to talk his way out of trouble?Bankman-Fried after an interview onBloomberg Wealth With David Rubensteinon Aug. 17, 2022.Photographer: Jeenah Moon/BloombergHe doesn’t say so, but one reason he might be willing to speak with me is that I’m one of the reporters who helped build him up. After spending two days at FTX’s offices in February, I flew past the brightred flagsat his company—its lack of corporate governance, the ties to his Alameda Research hedge fund, its profligate spending on marketing, the fact that it operated largely outside US jurisdiction. Iwrote a storyfocused on whether Bankman-Fried would follow through on his plans to donate huge sums to charity and his connections to an unusual philanthropic movement calledeffective altruism.It wasn’t the most embarrassingly puffy of the many puff pieces that came out about him. (“After my interview with SBF, I was convinced: I was talking to a future trillionaire,” one writer said in an article commissioned by a venture capital firm.) But my tone wasn’t entirely dissimilar. “Bankman-Fried is a thought experiment from a college philosophy seminar come to life,” I wrote. “Should someone who wants to save the world first amass as much money and power as possible, or will the pursuit corrupt him along the way?” Now it seems pretty clear that a better question would’ve been whether the business was ascam from the start.I tell Bankman-Fried I want to talk about the decisions that led to FTX’s collapse, and why he took them. Earlier in the week, inlate-night DM exchangeswith aVoxreporter and on a phone call with a YouTuber, he made comments that many interpreted as an admission that everything he said was a lie. (“So the ethics stuff, mostly a front?” theVoxreporter asked. “Yeah,” Bankman-Fried replied.) He’d spoken so cynically about his motivations that to many it seemed like a comic book character was pulling off his mask to reveal the villain who’d been hiding there all along.I set out on this visit with a different working theory. Maybe I was feeling the tug of my past reporting, but I still didn’t think the talk about charity was all made up. Since he was a teenager, Bankman-Fried has described himself as utilitarian—following the philosophy that the correct action is the one likely to result in the greatest good for the greatest number of people. He said his endgame was making and donating enough money to prevent pandemics and stop runaway artificial intelligence from destroying humanity. Faced with a crisis, and believing he was the hero of his own sci-fi movie, he might’ve thought it was right to make a crazy, even illegal, gamble to save his company.To be clear, if that’s what happened, it’s the logic of a megalomaniac, not a martyr. The money wasn’t his to gamble with, and “the ends justify the means” is a cliché of bad ethics. But if it’s what he believed, he might still think he’d made the right decision, even if it didn’t work out. It seemed to me that’s what he meant when he messagedVox, “The worst quadrant is sketchy + lose. The best is win + ???” I want to probe that, in part because it might get him to talk more candidly about what had happened to his customers’ money.I decide to approach the topic gingerly, on terms I think he’ll relate to, as it seems he’s in less of a crime-confess-y mood. He’s said he likes to evaluate decisions in terms of expected value—the odds of success times the likely payoff—so I begin by asking: “Should I judge you by your impact, or by the expected value of your decision?”“When all is said and done, what matters is your actual realized impact. Like, that’s what actually matters to the world,” he says. “But, obviously, there’s luck.”That’s the in I’m looking for. For the next 11 hours—with breaks for fundraising calls and a very awkward dinner—I try to get him to tell me exactly what he meant. He denies that he’s committed fraud or lied to anyone and blames FTX’s failure on his sloppiness and inattention. But at points it seems like he’s saying he gotunlucky, or miscalculated the odds.Bankman-Fried tells me he’s still got a chance to raise $8 billion to save his company. He seems delusional, or committed to pretending this is still an error he can fix, and either way, the few supporters remaining at his penthouse seem unlikely to set him straight. The grim scene reminds me a bit of the end ofScarface, with Tony Montana holed up in his mansion, semi-incoherent, his unknown enemies sneaking closer. But instead of mountains of cocaine, Bankman-Fried is clinging to spreadsheet tabs filled with wildly optimistic cryptocurrency valuations.Think of FTX like an offshore casino. Customers sent in money, then gambled on the price of hundreds ofcryptocurrencies—not just Bitcoin or Ether, but more obscure coins. In crypto slang, the latter are called shitcoins, because almost no one knows what they’re for. But in the past few years, otherwise respectable people, from retired dentists to heads of state, convinced themselves that these coins werethe future of finance. Or at least that enough other people might think so to make the price go up. Bankman-Fried’s casino was growing so fast that earlier this year some of Silicon Valley’s top venture capitalists invested in it at a $32 billion valuation.The problem surfaced last month. After a rival crypto-casino kingpin raised concerns about FTX on Twitter, customers rushed to cash in their chips. But when Bankman-Fried’s casino opened the vault, their money wasn’t there. According to multiple news reports citing people familiar with the matter, it had been secretly lent to Bankman-Fried’s hedge fund, which had lost it in some mix of bad bets, insane spending and perhaps something even sketchier. John Ray III, the lawyer who’s now chief executive officer of the bankrupt exchange, has alleged in court that FTX covered up the loans using secret software.Bankman-Fried denies this again to me. Returning to the framework of expected value, I ask him if the decisions he made were correct.“I think that I’ve made a lot of plus-EV decisions and a few very large boneheaded decisions,” he says. “Certainly in retrospect, those very large decisions were very bad, and may end up overwhelming everything else.”The chain of events, in his telling, started about four years ago. Bankman-Fried was in Hong Kong, where he’d moved from Berkeley, California, with a small group of friends from the effective-altruism community. Together they ran a successful startup crypto hedge fund,Alameda Research. (The name itself was an early example of his casual attitude toward rules—it was chosen to avoid scrutiny from banks, which frequently closed its accounts. “If we named our company like, Shitcoin Daytraders Inc., they’d probably just reject us,” Bankman-Fried told a podcaster in 2021. “But, I mean, no one doesn’t like research.”)The fund had made millions of dollars exploiting inefficiencies across cryptocurrency exchanges. (Ex-employees, even those otherwise critical of Bankman-Fried, have said this is true, though some have said Alameda then lost some of that money because of bad trades and mismanagement.) Bankman-Fried and his friends began considering starting their own exchange—what would become FTX.The way Bankman-Fried later described this decision reveals his attitude toward risk. He estimated there was an 80% chance the exchange would fail to attract enough customers. But he’s said one should always take a bet, even a long-shot one, if the expected value is positive, calling this stance “risk neutral.” But it actually meant he would take risks that to a normal person sound insane. “As an individual, to make a bet where it’s like, ‘I’m going to gamble my $10 billion and either get $20 billion or $0, with equal probability,’ would be madness,” Rob Wiblin, host of an effective-altruism podcast, said to Bankman-Fried in April. “But from an altruistic point of view, it’s not so crazy.”“Completely agree,” Bankman-Fried replied. He told another interviewer that he’d make a bet described as a chance of “51% you double the earth out somewhere else, 49% it all disappears.”Bankman-Fried and his friends jump-started FTX by having Alameda provide liquidity. It was a huge conflict of interest. Imagine if the top executives at an online poker site also entered its high-stakes tournaments—the temptation to cheat by peeking at other players’ cards would be huge. But Bankman-Fried assured customers that Alameda would play by the same rules as everyone else, and enough people came to trade that FTX took off. “Having Alameda provide liquidity on FTX early on was the right decision, because I think that helped make FTX a great product for users, even though it obviously ended up backfiring,” Bankman-Fried tells me.Part of FTX’s appeal was that it was mostly a derivatives exchange, which allowed customers to trade “on margin,” meaning with borrowed money. That’s a key to his defense. Bankman-Fried argues no one should be surprised that big traders on FTX, including Alameda, were borrowing from the exchange, and that his fund’s position just somehow got out of hand. “Everyone was borrowing and lending,” he says. “That’s been its calling card.” But FTX’s normal margin system, crypto traders tell me, would never have permitted anyone to accumulate a debt that looked like Alameda’s. When I ask if Alameda had to follow the same margin rules as other traders, he admits the fund did not. “There was more leeway,” he says.That wouldn’t have been so important had Alameda stuck to its original trading strategy of relatively low-risk arbitrage trades. But in 2020 and 2021, as Bankman-Fried became the face of FTX, amajor political donorand a favorite of Silicon Valley, Alameda faced more competition in that market-making business. It shifted its strategy to, essentially, gambling on shitcoins.As Caroline Ellison, then Alameda’s co-CEO, explained in aMarch 2021 post on Twitter: “The way to really make money is figure out when the market is going to go up and get balls long before that,” she wrote, adding that she’d learned the strategy from the classic market-manipulation memoir,Reminiscences of a Stock Operator.Her co-CEO said in another tweet that a profitable strategy was buying Dogecoin becauseElon Musktweeted about it.The reason they were bragging about what sounded like a high schooler’s tactics was that it was working better than anyone knew. When we spoke in February 2022, Bankman-Fried told me that Alameda had made $1 billion the previous year. He now says that was Alameda’s arbitrage profits. On top of that, its shitcoins gained tens of billions of dollars of value, at least on paper. “If you mark everything to market, I do believe at one point my net worth got to $100 billion,” Bankman-Fried says.Any trader would know this wasn’t nearly as good as it sounded. The large pile of tokens couldn’t be turned into cash without crashing the market. Much of it was even made of tokens that Bankman-Fried and his friends had spun up themselves, such as FTT, Serum or Maps—the official currency of a nonsensical crypto-meets-mapping app—or were closely affiliated with, like Solana. While Bankman-Fried acknowledges the pile was worth something less than $100 billion—maybe he’d mark it down a third, he says—he maintains that he could have extracted quite a lot of real money from his holdings.But he didn’t. Instead, Alameda borrowed billions of dollars from other crypto lenders—not FTX—and sunk them into more crypto bets. Publicly, Bankman-Fried presented himself as an ethical operator andcalled for regulationto rein in crypto’s worst excesses. But through his hedge fund, he’d actually become the market’s most degenerate gambler. I ask him why, if he really thought he could sell the tokens, he didn’t. “Why not, like, take some risk off?”“OK. In retrospect, absolutely. That would’ve been the right, like, unambiguously the right thing to do,” he says. “But also it was just, like, hilariously well-capitalized.”Near the peak of the great shitcoin boom, in April 2022, FTX hosted a lavish conference at a resort and casino in Nassau. It was Bankman-Fried’s coming out party. He got to share the stage with quarterback Tom Brady. Also there: former Prime Minister Tony Blair and ex-President Bill Clinton, who extended a fatherly hand when the young crypto executive seemed nervous. The author Michael Lewis, who’s working on a book about Bankman-Fried, praised him in a fawning interview onstage. “You’re breaking land speed records. And I don’t think people are really noticing what’s happened, just how dramatic the revolution has become,” Lewis said, asking when crypto would take over Wall Street.The next month, thecrypto crash began. It started when a popular set of coins called Terra and Luna collapsed, wiping out $60 billion. Terra and Luna were almost openly a Ponzi scheme, but some of the biggest crypto funds had invested in them with borrowed money and went bankrupt. This made the lenders who’d lent billions of dollars to Alameda nervous. They asked Alameda to repay the loans, with real money. It needed billions of dollars, fast, or it would go bust.There are two different versions of what happened next. Two people with knowledge of the matter told me that Ellison, by then the sole head of Alameda, had told her side of the story to her staff amid the crisis. Ellison said that she, Bankman-Fried and his two top lieutenants—Gary Wang and Nishad Singh—had discussed the shortfall. Instead of admitting Alameda’s failure, they decided to use FTX customer funds to cover it, according to the people. If that’s true, all four executives would’ve knowingly committed fraud. (Ellison, Wang and Singh didn’t respond to messages seeking comment.)When I put this to Bankman-Fried, he screws up his eyes, furrows his eyebrows, puts his hands in his hair and thinks for a few seconds.“So, it’s not how I remember what happened,” Bankman-Fried says. But he surprises me by acknowledging that there had been a meeting, post-Luna crash, where they debated what to do about Alameda’s debts. The way he tells it, he was packing for a trip to DC and “only kibitzing on parts of the discussion.” It didn’t seem like a crisis, he says. It was a matter of extending a bit more credit to a fund that already traded on margin and still had a pile of collateral worth way more than enough to cover the loan. (Although the pile of collateral was largely shitcoins.)“That was the point at which Alameda’s margin position on FTX got, well, it got more leveraged substantially,” he says. “Obviously, in retrospect, we should’ve just said no. I sort of didn’t realize then how large the position had gotten.”“You were all aware there was a chance this would not work,” I say.“That’s right,” he says. “But I thought that the risk was substantially smaller.”I try to imagine what he could’ve been thinking. If FTX had liquidated Alameda’s position, the fund would’ve gone bankrupt, and even if the exchange didn’t take direct losses, customers would’ve lost confidence in it. Bankman-Fried points out that the companies that lent money to Alameda might have failed, too, causing a hard-to-predict cascade of events.“Now let’s say you don’t margin call Alameda,” I posit. “Maybe you think there’s like a 70% chance everything will be OK, it’ll all work out?”“Yes, but also in the cases where it didn’t work out, I thought the downside was not nearly as high as it was,” he says. “I thought that there was the risk of a much smaller hole. I thought it was going to be manageable.”Bankman-Fried pulls out his laptop (an Acer Predator) and opens a spreadsheet to show what he meant. It’s similar to thebalance sheethe reportedly showed investors when he was seeking a last-minute bailout, which he says consolidated FTX and Alameda’s positions because by then the fund had defaulted on its debt. On one line—labeled “What I *thought*”—he lists $8.9 billion in debts and way more than enough money to pay them: $9 billion in liquid assets, $15.4 billion in “less liquid” assets and $3.2 billion in “illiquid” ones. He tells me this was more or less the position he was considering when he had the meeting with the other executives.“It looks naively to me like, you know, there’s still some significant liabilities out there, but, like, we should be able to cover it,” he says.“So what’s the problem, then?”Bankman-Fried points to another place on the spreadsheet, which he says shows the actual truth of the situation at the time of the meeting. This one shows similar numbers, but with $8 billion less liquid assets.“What’s the difference between these two rows here?” he asks.“You didn’t have $8 billion in cash that you thought you had,” I say.“That’s correct. Yes.”“You misplaced $8 billion?” I ask.“Misaccounted,” Bankman-Fried says, sounding almost proud of his explanation. Sometimes, he says, customers would wire money to Alameda Research instead of sending it directly to FTX. (Some banks were more willing to work with the hedge fund than the exchange, for some reason.) He claims that somehow, FTX’s internal accounting system double-counted this money, essentially crediting it to both the exchange and the fund.That still doesn’t explain why the money was gone. “Where did the $8 billion go?” I ask.To answer, Bankman-Fried creates a new tab on the spreadsheet and starts typing. He lists Alameda and FTX’s biggest cash flows. One of the biggest expenses is paying a net $2.5 billion toBinance, a rival, to buy out its investment in FTX. He also lists $250 million for real estate, $1.5 billion for expenses, $4 billion for venture capital investments, $1.5 billion for acquisitions and $1 billion labeled “fuckups.” Even accounting for both firms’ profits, and all the venture capital money raised by FTX, it tallies to negative $6.5 billion.Bankman-Fried is telling me that the billions of dollars customers wired to Alameda is gone simply because the companies spent way more than they made. He claims he paid so little attention to his expenses that he didn’t realize he was spending more than he was taking in. “I was real lazy about this mental math,” the former physics major says. He creates another column in his spreadsheet and types in much lower numbers to show what he thought he was spending at the time.It seems to me like he is, without saying it exactly, blaming his underlings for FTX’s failure, especially Ellison, the head of Alameda. The two had dated and lived together at times. She was part of Bankman-Fried’s Future Fund, which was supposed to distribute FTX and Alameda’s earnings to effective-altruist-approved causes. It seems unlikely she would’ve blown billions of dollars without asking. “People might take, like, the TLDR as, like, it was my ex-girlfriend’s fault,” I tell him. “That is sort of what you’re saying.”“I think the biggest failure was that it wasn’t entirely clear whose fault it was,” he says.Bankman-Fried tells me he has to make a call. After a while, the sun goes down and I’m hungry. I’m allowed to join a group of Bankman-Fried’s supporters for dinner, as long as I don’t mention their names.With the curtains drawn, the living room looks considerably less grand than it does in pictures. I’ve been told that FTX employees gathered here amid the crisis, while Bankman-Fried worked in another apartment. Addled by stress and sleep deprivation, they wept and hugged one another. Most didn’t say goodbye as they left the island, one by one. Many flew back to their childhood homes to be with their parents.The supporters at the dinner tell me they feel like the press has been unfair. They say that Bankman-Fried and his friends weren’t the polyamorous partiers the tabloids have portrayed and that they did little besides work. Earlier in the week, a Bahamian man who’d served as FTX’s round-the-clock chauffeur and gofer also told me the reports weren’t true. “People make it seem like this bigWolf of Wall Streetthing,” he said. “Bro, it was a bunch of nerds.”Illustration: Maxime Mouysset for Bloomberg BusinessweekBy the time I finish my plate of off-the-record rice and beans, Bankman-Fried is free again. We return to the study. He’s barefoot now, having balled up his gym socks and stuffed them behind a couch cushion. He lies on the couch, his computer on his lap. The light from the screen casts shadows of his curls on his forehead.I notice a skin-colored patch on his arm. He tells me it’s a transdermal antidepressant, selegiline. I ask if he’s using it as a performance enhancer or to treat depression. “Nothing’s binary,” he says. “But I’ve been borderline depressed for my whole life.” He adds that he also sometimes takes Adderall—“10 milligrams at a time, a few times a day”—as did some of his colleagues, but that talk of drug use is overblown. “I don’t think that was the problem,” he says.I tell Bankman-Fried my theory about his motivation, sidestepping the question of whether he misappropriated customer funds. Bankman-Fried denies that his world-saving goals made him willing to take giant gambles. As we talk more, it seems like he’s saying he made some kind of bet but hadn’t calculated the expected value properly.“I was comfortable taking the risk that, like, I may end up kind of falling flat,” he says, staring at his computer screen, where he had pulled up a game and was leading an army of cartoon knights and fairies into battle. “But what actually happened was disastrously bad and, like, no significant chance of that happening would’ve made sense to risk, and that was a fuckup. Like, that was a mass miscalculation in downside.”I read Bankman-Fried a post by Will MacAskill, one of the founders of the effective-altruism movement. He recruited Bankman-Fried into it when he was a junior at MIT and this year had joined the board of Bankman-Fried’s Future Fund. On Nov. 11,MacAskill wrote on Twitterthat Bankman-Fried had betrayed him. “For years, the EA community has emphasized the importance of integrity, honesty and the respect of common-sense moral constraints,” MacAskill wrote. “If customer funds were misused, then Sam did not listen; he must have thought he was above such considerations.”Bankman-Fried closes his eyes and pushes his toes against one arm of the couch, clenching the other arm with his hands. “That’s not how I view what happened,” he says. “But I did fuck up. I think really what I want to say is, like, I’m really fucking sorry. By far the worst thing about this is that it will tarnish the reputation of people who are dedicated to doing nothing but what they thought was best for the world.” Bankman-Fried trails off. On his computer screen, his army casts spells and swings swords unattended.I ask what he’d say to people who are comparing him to the most famous Ponzi schemer of recent times. “Bernie Madoff also said he had good intentions and gave a lot to charity,” I say.“FTX was a legitimate, profitable, thriving business. And I fucked up by, like, allowing a margin position to get too big on it. One that endangered the platform. It was a completely unnecessary and unforced error, which like maybe I got super unlucky on, but, like, that was my bad.”“It fucking sucks,” he adds. “But it wasn’t inherent to what the business was. It was just a fuckup. A huge fuckup.”To me, it doesn’t really seem like a fuckup. Even if I believe that he misplaced and accidentally spent $8 billion, he’s already told me that Alameda had been allowed to violate FTX’s margin rules. This wasn’t some little technical thing. He was so proud of FTX’s margining system that he’d been lobbying regulators for it to be used on US exchanges instead of traditional safeguards. In May, Bankman-Fried himself said on Twitter that exchanges should never extend credit to a fund and put other customers’ assets at risk. He wrote that the idea an exchange would even have that discretion was “scary.” I read him the tweets and ask: “Isn’t that, like, exactly what you did, right around that time?”“Yeah, I guess that’s kind of fair,” he says. Then he seems to claim that this was evidence the rules he was lobbying for were a good idea. “I think this is one of the things that would have stopped.”“You had a rule on your platform. You didn’t follow it,” I say.By now it’s past midnight, and—operating without the benefit of any prescription stimulants—I’m worn out. I ask Bankman-Fried if I can see the apartment’s deck before I leave. Outside, crickets chirp as we stand by the pool. The marina is dark, lit only by the spotlights of yachts. As I say goodbye, Bankman-Fried bites into a burger bun and starts talking about potential bailouts with one of his supporters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965671175,"gmtCreate":1669950382697,"gmtModify":1676538276917,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9965671175","repostId":"1196935334","repostType":4,"repost":{"id":"1196935334","pubTimestamp":1669942364,"share":"https://ttm.financial/m/news/1196935334?lang=&edition=fundamental","pubTime":"2022-12-02 08:52","market":"us","language":"en","title":"The S&P 500 Is on the Cusp of Breaking Through a Level That Might Spell the End of the Bear Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1196935334","media":"MarketWatch","summary":"The stock market has sputtered at times over the past three weeks, but Federal Reserve Chairman Jero","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/98282d20aeb872dfcad0ec3f6bc381f7\" tg-width=\"700\" tg-height=\"436\" referrerpolicy=\"no-referrer\"/>The stock market has sputtered at times over the past three weeks, but Federal Reserve Chairman Jerome Powell’s <a href=\"https://www.marketwatch.com/story/the-key-word-for-investors-to-decipher-the-feds-next-move-is-moderation-strategist-ed-yardeni-says-11669917141?mod=search_headline&amp;mod=article_inline\" target=\"_blank\">statements</a> Wednesday prompted the S&amp;P 500  to jump above a technical resistance level at 4030 points.</p><p>The benchmark index is now challenging the declining 200-day moving average (MA) and the trend line that defines the bear market. A strong move above 4100 would break that downtrend line for the first time this year, potentially ending the bear market.</p><p>Note that I am not saying an increase above 4100 would absolutely be the end of the bear market but it <i>could</i> lead to that possibility. This current rally has closed the gaps on the so-called island reversal of early September. So the next resistance area is the August highs, just above 4300. The first support area is in 3900-3950, so a move below 3900 would be negative in that it would reverse most of the positive action of the past few weeks.</p><p><img src=\"https://static.tigerbbs.com/ee4dcc0a28f1d871cfe49e09eae7ee3f\" tg-width=\"700\" tg-height=\"524\" referrerpolicy=\"no-referrer\"/></p><p>The McMillan Volatility Band (MVB) buy signal that took place in early October is still in place. Its target is the +4σ “modified Bollinger Band,” which is now at 4200 and racing higher.</p><p>Equity-only put-call ratios are technically still on buy signals. By “technically,” I mean that the computer programs that we use to analyze those charts are still rating them as “buy.”</p><p>However, a close examination of the two accompanying charts will show they have <i>not</i> made new lows in the past few days. That is a bit worrisome, for these ratios should be trending lower while the S&amp;P 500 is trending higher. For now, it is only a concern, not a sell signal, but we would like to see these ratios move to new relative lows (below their November lows) in order to re-confirm their buy signals.</p><p><img src=\"https://static.tigerbbs.com/b7aa0ecffc09de1296c9400ecf7a3d4f\" tg-width=\"700\" tg-height=\"531\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/57daba7a63a9648661551db7aaa63219\" tg-width=\"699\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/></p><p>Breadth indicators have swung back and forth quickly as the market has bounced around for nearly a month now. That has produced some whipsaw signals from breadth oscillators. For the record, they are now back on buy signals, but we are reluctant to put too much importance on them at this time. Yesterday (November 30th) was a 90% “up” day.</p><p>New 52-week highs on the New York Stock Exchange have still not reached 100 on any day — our minimum requirement for the setup of a potential buy signal. As a result, this indicator remains negative for now. There is still much work to be done here before a buy signal can take place.</p><p>VIX has continued to decline, for the most part, since early October. Thus, the <i>trend</i>of VIX is downward and that is bullish for stocks. Specifically, we had a “trend of VIX” buy signal in early November, when the 20-day MA of VIX crossed below the 200-day MA of VIX, and that is still in place. The only worry from VIX would be if it were to re-enter “spiking” mode by closing at least 3.00 points higher over any three-day or shorter period. That doesn’t appear to be a factor now, but it is worth watching for.</p><p><a href=\"/investing/index/VIX?mod=MW_story_quote\" target=\"_blank\"><img src=\"https://static.tigerbbs.com/a00a87d410ad517c1637691476528bef\" tg-width=\"700\" tg-height=\"524\" referrerpolicy=\"no-referrer\"/></a></p><p>The <i>construct</i> of volatility derivatives remains a positive force for the stock market, too. The term structures of both the VIX futures and of the CBOE Volatility Indices are sloping upwards. Furthermore, the VIX futures are trading at healthy premiums to VIX. Those are bullish signs for stocks.</p><p>Finally, there is a bullish seasonal pattern in place from Thanksgiving through the second trading day of the new year. Normally, small-caps outperform big-caps during that time.</p><p>In summary, the bulls have made an impressive run since early October, and a break through the downtrend line of this bear market would need to be respected. It would not necessarily mean that the bear market is over, but we would no longer recommend carrying a “core” bearish position if that happens.</p><h2>New recommendation: Aerojet Rocketdyne Holdings</h2><p>The option volume in Aerojet Rocketdyne Holdings rose sharply yesterday (November 30th) on M&amp;A speculation. The stock is trading at an all-time high. Stock volume patterns are strong and improving. There is support at 51.</p><p><b>Buy 2 AJRD Jan (20th) 50 calls</b></p><p><b>At a price of 4.10 or less.</b></p><p>AJRD: 52.00               Jan (20th) 50 calls: 3.30 bid, offered at 4.60.</p><h2><img src=\"https://static.tigerbbs.com/a526d855e9ae30f360e314edc7b8f83a\" tg-width=\"699\" tg-height=\"520\" referrerpolicy=\"no-referrer\"/>New recommendation: Horizon Therapeutics</h2><p>Option volume in Horizon Therapeutics  exploded following news that the company has fielded takeover interest from multiple Big Pharma companies (Amgen, Johnson &amp; Johnson and Sanofi) but that discussions were at a “highly” preliminary stage. Put option activity was relatively strong. Analysts are projecting an eventual deal price as high as $140 per share. Stock volume patterns are very strong and improving rapidly. There is support at 95-96, potentially.</p><p><b>Buy 1 HZNP Jan (20th) 100 call</b></p><p><b>At a price of 11.00 or less.</b></p><p>HZNP: 100.29             Jan (20th) 100 call: 10.40 bid, offered at 11.20</p><h2><img src=\"https://static.tigerbbs.com/00ee4a12d8cd33134825d8b40e854722\" tg-width=\"700\" tg-height=\"527\" referrerpolicy=\"no-referrer\"/>Follow-up action</h2><p><b><i>All stops are mental closing stops unless otherwise noted.</i></b></p><p>We are using a “standard” rolling procedure for our SPY spreads: in any vertical bull or bear spread, if the underlying hits the short strike, then roll the entire spread. That would be roll <i>up</i> in the case of a call bull spread, or roll <i>down</i> in the case of a bear put spread. Stay in the same expiration, and keep the distance between the strikes the same unless otherwise instructed.</p><p><b>Long 2 Dec (16th) 375 puts and Short 2 Dec (16th) 355 puts:</b> This is our “core” bearish position. |As long as SPX remains in a downtrend, we want to maintain a position here. The spread is worth so little that placing a stop isn’t useful.</p><p><b>Long 1 SPY Dec (23rd) 392 call and short 1 SPY Dec (23rd) 408 call:</b>This trade is based on the MVB buy signal, which was established on October 4th. We want to roll this spread up and out, since SPY has nearly reached the upper strike. Roll to the <b>Jan (6th) 408-423 call bull spread (i.e., Buy the 408 calls, sell the 423 calls).</b>This trade’s target is for SPX to trade at the upper, +4σ Band. The stop for this position would be if SPX were to close back below the -4σ Band. We will keep you informed if either Band has been touched.</p><p><b>Long 300 KLXE:</b> The stop remains at 14.50.</p><p><b>Long 2 WRK Jan (20th) 32.5 calls:</b> We will hold as long as the <i>weighted</i> put-call ratio remains on a buy signal.</p><p><b>Long 1 SPY Dec (9th) 390 call and short 1 SPY Dec (9th) 410 call:</b> The spread is based on the rare CBOE Equity-only put-call ratio buy signal. This spread can be rolled up and out now, as well:  <b>roll to the Jan (6th) 410-425 call bull spread.</b>As a stop, we will close it out if SPX closes below 3900 (note the change in stop price).</p><p><b>Long 2 KMB Jan (20th) 135 calls:</b> We rolled this position up last week<b><i>.</i></b>We will hold these calls as long as the <i>weighted</i> put-call ratio of KMB remains on its buy signal.</p><p><b>Long 2 IWM Jan (20th) 185 at-the-money calls and Short 2 IWM Jan (20th) 205 calls:</b>This is our position based on the bullish seasonality between Thanksgiving and the second trading day of the new year. We will adjust this position if IWM rallies during the holding period, but initially there is no stop for the position, so the entire debit is at risk.</p><p><b>Long 2 PSX Jan (20th) 105 puts:</b> We will hold these puts as long as the <i>weighted</i> put-call ratio remains on a sell signal. That is, as long as the put-call ratio is rising.</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500 Is on the Cusp of Breaking Through a Level That Might Spell the End of the 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\">\nThe S&P 500 Is on the Cusp of Breaking Through a Level That Might Spell the End of the Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-02 08:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/the-s-p-500-is-on-the-cusp-of-breaking-through-a-level-that-might-spell-the-end-of-the-bear-market-11669924124?mod=options><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The stock market has sputtered at times over the past three weeks, but Federal Reserve Chairman Jerome Powell’s statements Wednesday prompted the S&P 500  to jump above a technical resistance level at...</p>\n\n<a href=\"https://www.marketwatch.com/story/the-s-p-500-is-on-the-cusp-of-breaking-through-a-level-that-might-spell-the-end-of-the-bear-market-11669924124?mod=options\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AJRD":"Aerojet Rocketdyne Holdings Inc","HZNP":"Horizon Pharma"},"source_url":"https://www.marketwatch.com/story/the-s-p-500-is-on-the-cusp-of-breaking-through-a-level-that-might-spell-the-end-of-the-bear-market-11669924124?mod=options","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196935334","content_text":"The stock market has sputtered at times over the past three weeks, but Federal Reserve Chairman Jerome Powell’s statements Wednesday prompted the S&P 500  to jump above a technical resistance level at 4030 points.The benchmark index is now challenging the declining 200-day moving average (MA) and the trend line that defines the bear market. A strong move above 4100 would break that downtrend line for the first time this year, potentially ending the bear market.Note that I am not saying an increase above 4100 would absolutely be the end of the bear market but it could lead to that possibility. This current rally has closed the gaps on the so-called island reversal of early September. So the next resistance area is the August highs, just above 4300. The first support area is in 3900-3950, so a move below 3900 would be negative in that it would reverse most of the positive action of the past few weeks.The McMillan Volatility Band (MVB) buy signal that took place in early October is still in place. Its target is the +4σ “modified Bollinger Band,” which is now at 4200 and racing higher.Equity-only put-call ratios are technically still on buy signals. By “technically,” I mean that the computer programs that we use to analyze those charts are still rating them as “buy.”However, a close examination of the two accompanying charts will show they have not made new lows in the past few days. That is a bit worrisome, for these ratios should be trending lower while the S&P 500 is trending higher. For now, it is only a concern, not a sell signal, but we would like to see these ratios move to new relative lows (below their November lows) in order to re-confirm their buy signals.Breadth indicators have swung back and forth quickly as the market has bounced around for nearly a month now. That has produced some whipsaw signals from breadth oscillators. For the record, they are now back on buy signals, but we are reluctant to put too much importance on them at this time. Yesterday (November 30th) was a 90% “up” day.New 52-week highs on the New York Stock Exchange have still not reached 100 on any day — our minimum requirement for the setup of a potential buy signal. As a result, this indicator remains negative for now. There is still much work to be done here before a buy signal can take place.VIX has continued to decline, for the most part, since early October. Thus, the trendof VIX is downward and that is bullish for stocks. Specifically, we had a “trend of VIX” buy signal in early November, when the 20-day MA of VIX crossed below the 200-day MA of VIX, and that is still in place. The only worry from VIX would be if it were to re-enter “spiking” mode by closing at least 3.00 points higher over any three-day or shorter period. That doesn’t appear to be a factor now, but it is worth watching for.The construct of volatility derivatives remains a positive force for the stock market, too. The term structures of both the VIX futures and of the CBOE Volatility Indices are sloping upwards. Furthermore, the VIX futures are trading at healthy premiums to VIX. Those are bullish signs for stocks.Finally, there is a bullish seasonal pattern in place from Thanksgiving through the second trading day of the new year. Normally, small-caps outperform big-caps during that time.In summary, the bulls have made an impressive run since early October, and a break through the downtrend line of this bear market would need to be respected. It would not necessarily mean that the bear market is over, but we would no longer recommend carrying a “core” bearish position if that happens.New recommendation: Aerojet Rocketdyne HoldingsThe option volume in Aerojet Rocketdyne Holdings rose sharply yesterday (November 30th) on M&A speculation. The stock is trading at an all-time high. Stock volume patterns are strong and improving. There is support at 51.Buy 2 AJRD Jan (20th) 50 callsAt a price of 4.10 or less.AJRD: 52.00               Jan (20th) 50 calls: 3.30 bid, offered at 4.60.New recommendation: Horizon TherapeuticsOption volume in Horizon Therapeutics  exploded following news that the company has fielded takeover interest from multiple Big Pharma companies (Amgen, Johnson & Johnson and Sanofi) but that discussions were at a “highly” preliminary stage. Put option activity was relatively strong. Analysts are projecting an eventual deal price as high as $140 per share. Stock volume patterns are very strong and improving rapidly. There is support at 95-96, potentially.Buy 1 HZNP Jan (20th) 100 callAt a price of 11.00 or less.HZNP: 100.29             Jan (20th) 100 call: 10.40 bid, offered at 11.20Follow-up actionAll stops are mental closing stops unless otherwise noted.We are using a “standard” rolling procedure for our SPY spreads: in any vertical bull or bear spread, if the underlying hits the short strike, then roll the entire spread. That would be roll up in the case of a call bull spread, or roll down in the case of a bear put spread. Stay in the same expiration, and keep the distance between the strikes the same unless otherwise instructed.Long 2 Dec (16th) 375 puts and Short 2 Dec (16th) 355 puts: This is our “core” bearish position. |As long as SPX remains in a downtrend, we want to maintain a position here. The spread is worth so little that placing a stop isn’t useful.Long 1 SPY Dec (23rd) 392 call and short 1 SPY Dec (23rd) 408 call:This trade is based on the MVB buy signal, which was established on October 4th. We want to roll this spread up and out, since SPY has nearly reached the upper strike. Roll to the Jan (6th) 408-423 call bull spread (i.e., Buy the 408 calls, sell the 423 calls).This trade’s target is for SPX to trade at the upper, +4σ Band. The stop for this position would be if SPX were to close back below the -4σ Band. We will keep you informed if either Band has been touched.Long 300 KLXE: The stop remains at 14.50.Long 2 WRK Jan (20th) 32.5 calls: We will hold as long as the weighted put-call ratio remains on a buy signal.Long 1 SPY Dec (9th) 390 call and short 1 SPY Dec (9th) 410 call: The spread is based on the rare CBOE Equity-only put-call ratio buy signal. This spread can be rolled up and out now, as well:  roll to the Jan (6th) 410-425 call bull spread.As a stop, we will close it out if SPX closes below 3900 (note the change in stop price).Long 2 KMB Jan (20th) 135 calls: We rolled this position up last week.We will hold these calls as long as the weighted put-call ratio of KMB remains on its buy signal.Long 2 IWM Jan (20th) 185 at-the-money calls and Short 2 IWM Jan (20th) 205 calls:This is our position based on the bullish seasonality between Thanksgiving and the second trading day of the new year. We will adjust this position if IWM rallies during the holding period, but initially there is no stop for the position, so the entire debit is at risk.Long 2 PSX Jan (20th) 105 puts: We will hold these puts as long as the weighted put-call ratio remains on a sell signal. That is, as long as the put-call ratio is rising.","news_type":1},"isVote":1,"tweetType":1,"viewCount":152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965046475,"gmtCreate":1669861667698,"gmtModify":1676538258880,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Huh","listText":"Huh","text":"Huh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9965046475","repostId":"2288162926","repostType":4,"repost":{"id":"2288162926","pubTimestamp":1669851772,"share":"https://ttm.financial/m/news/2288162926?lang=&edition=fundamental","pubTime":"2022-12-01 07:42","market":"us","language":"en","title":"Elon Musk Thanks Tim Cook for Taking Him Around Apple HQ","url":"https://stock-news.laohu8.com/highlight/detail?id=2288162926","media":"seekingalpha","summary":"Twitter  CEO Elon Musk thanked Apple  CEO Tim Cook for taking him around Apple's headquarters on Wednesday.The meeting between the two chieftains is notable, given that Musk has needled Apple  in recent days.On Monday, Musk questioned why Apple , the world's largest company by market cap, had recently cut its advertising on Twitter.\"Apple has mostly stopped advertising on Twitter,\" Musk tweeted at the time. \"Do they hate free speech in America?\"Musk followed that up with a tweet to Cook, asking ","content":"<html><head></head><body><p>Twitter (TWTR) CEO Elon Musk thanked Apple (NASDAQ:AAPL) CEO Tim Cook for taking him around Apple&#39;s headquarters on Wednesday.</p><p><img src=\"https://static.tigerbbs.com/20673749f88fcad19415eb96477d2bc5\" tg-width=\"766\" tg-height=\"1167\" width=\"100%\" height=\"auto\"/></p><p>The meeting between the two chieftains is notable, given that Musk has needled Apple (AAPL) in recent days.</p><p>On Monday, Musk questioned why Apple (AAPL), the world&#39;s largest company by market cap, had recently cut its advertising on Twitter.</p><p>&#34;Apple has mostly stopped advertising on Twitter,&#34; Musk tweeted at the time. &#34;Do they hate free speech in America?&#34;</p><p>Musk followed that up with a tweet to Cook, asking &#34;What&#39;s going on here?&#34;</p><p>In addition to questioning Apple&#39;s (AAPL) advertising spending, Musk also claimed that Apple (AAPL) had threatened to take Twitter off the App Store, but that the company did not give a reason why.</p><p>Musk subsequently posted a meme bemoaning Apple&#39;s (AAPL) 30% commission for certain revenue generated via its App Store.</p><p>He also published a poll asking his 119M followers whether Apple (AAPL) &#34;should publish all censorship actions it has taken that affect its customers.&#34;</p><p>On Tuesday, Musk tweeted &#34;the people have spoken,&#34; showing that nearly 85% of respondents to the poll said that Apple (AAPL) should show the censorship actions it has taken.</p><p>Over the weekend, Musk said he would build his own smartphone if Twitter was removed from Apple&#39;s (AAPL) and Google&#39;s (GOOG) (GOOGL) platforms, but added he hoped it would not come to that.</p><p>The history between the two is long and extensive, as Musk claimed in 2020 that he offered to sell Tesla (NASDAQ:TSLA) to Apple (AAPL), but that Cook &#34;refused to take the meeting.&#34;</p><p>A book published in 2021 claimed that Cook shouted an expletive at Musk during a 2016 meeting when Musk demanded to be made Apple (AAPL) CEO if Apple were to acquire the car company, but Apple (AAPL) denied a meeting ever took place.</p><p>A notable analyst said earlier this week that Apple&#39;s (AAPL) iPhone 14 Pro shipments could be up to 20M units less than expected because of China-related supply chain disruptions.</p></body></html>","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>Elon Musk Thanks Tim Cook for Taking Him Around Apple HQ</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.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\">\nElon Musk Thanks Tim Cook for Taking Him Around Apple HQ\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-01 07:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3912673-elon-musk-thanks-tim-cook-for-taking-him-around-apple-hq><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Twitter (TWTR) CEO Elon Musk thanked Apple (NASDAQ:AAPL) CEO Tim Cook for taking him around Apple's headquarters on Wednesday.The meeting between the two chieftains is notable, given that Musk has ...</p>\n\n<a href=\"https://seekingalpha.com/news/3912673-elon-musk-thanks-tim-cook-for-taking-him-around-apple-hq\">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","TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/news/3912673-elon-musk-thanks-tim-cook-for-taking-him-around-apple-hq","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2288162926","content_text":"Twitter (TWTR) CEO Elon Musk thanked Apple (NASDAQ:AAPL) CEO Tim Cook for taking him around Apple's headquarters on Wednesday.The meeting between the two chieftains is notable, given that Musk has needled Apple (AAPL) in recent days.On Monday, Musk questioned why Apple (AAPL), the world's largest company by market cap, had recently cut its advertising on Twitter.\"Apple has mostly stopped advertising on Twitter,\" Musk tweeted at the time. \"Do they hate free speech in America?\"Musk followed that up with a tweet to Cook, asking \"What's going on here?\"In addition to questioning Apple's (AAPL) advertising spending, Musk also claimed that Apple (AAPL) had threatened to take Twitter off the App Store, but that the company did not give a reason why.Musk subsequently posted a meme bemoaning Apple's (AAPL) 30% commission for certain revenue generated via its App Store.He also published a poll asking his 119M followers whether Apple (AAPL) \"should publish all censorship actions it has taken that affect its customers.\"On Tuesday, Musk tweeted \"the people have spoken,\" showing that nearly 85% of respondents to the poll said that Apple (AAPL) should show the censorship actions it has taken.Over the weekend, Musk said he would build his own smartphone if Twitter was removed from Apple's (AAPL) and Google's (GOOG) (GOOGL) platforms, but added he hoped it would not come to that.The history between the two is long and extensive, as Musk claimed in 2020 that he offered to sell Tesla (NASDAQ:TSLA) to Apple (AAPL), but that Cook \"refused to take the meeting.\"A book published in 2021 claimed that Cook shouted an expletive at Musk during a 2016 meeting when Musk demanded to be made Apple (AAPL) CEO if Apple were to acquire the car company, but Apple (AAPL) denied a meeting ever took place.A notable analyst said earlier this week that Apple's (AAPL) iPhone 14 Pro shipments could be up to 20M units less than expected because of China-related supply chain disruptions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":395,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962291966,"gmtCreate":1669777238255,"gmtModify":1676538241216,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Huh","listText":"Huh","text":"Huh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9962291966","repostId":"9962299293","repostType":1,"repost":{"id":9962299293,"gmtCreate":1669777033313,"gmtModify":1676538241147,"author":{"id":"3569316529855154","authorId":"3569316529855154","name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","crmLevel":3,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3569316529855154","authorIdStr":"3569316529855154"},"themes":[],"title":"What the heck happened to Salesforce?","htmlText":"What the heck happened to Salesforce? &nbsp;&nbsp; Tech stocks have taken a nasty tumble this year, but some are doing even worse than others. Exhibit A: software giant Salesforce. Shares of Salesforce (CRM) have plunged about 40% so far in 2022. That makes it the second-worst performer in the Dow, trailing only chip leader Intel (INTC). Salesforce (CRM) has lagged the performance of top cloud software rivals such as Microsoft (MSFT), Germany’s SAP (SAP) and Oracle (ORCL). Salesforce isn’t really doing all that badly. In fact, the company reported sales growth of 22% from a year ago back in August, but it also cut its revenue and profit forecasts at the time. Salesforce said it now expects earnings per share of about $1.20 to $1.21 for this quarter and sales of $7.82 billion to $7.83 bi","listText":"What the heck happened to Salesforce? &nbsp;&nbsp; Tech stocks have taken a nasty tumble this year, but some are doing even worse than others. Exhibit A: software giant Salesforce. Shares of Salesforce (CRM) have plunged about 40% so far in 2022. That makes it the second-worst performer in the Dow, trailing only chip leader Intel (INTC). Salesforce (CRM) has lagged the performance of top cloud software rivals such as Microsoft (MSFT), Germany’s SAP (SAP) and Oracle (ORCL). Salesforce isn’t really doing all that badly. In fact, the company reported sales growth of 22% from a year ago back in August, but it also cut its revenue and profit forecasts at the time. Salesforce said it now expects earnings per share of about $1.20 to $1.21 for this quarter and sales of $7.82 billion to $7.83 bi","text":"What the heck happened to Salesforce? Tech stocks have taken a nasty tumble this year, but some are doing even worse than others. Exhibit A: software giant Salesforce. Shares of Salesforce (CRM) have plunged about 40% so far in 2022. That makes it the second-worst performer in the Dow, trailing only chip leader Intel (INTC). Salesforce (CRM) has lagged the performance of top cloud software rivals such as Microsoft (MSFT), Germany’s SAP (SAP) and Oracle (ORCL). Salesforce isn’t really doing all that badly. In fact, the company reported sales growth of 22% from a year ago back in August, but it also cut its revenue and profit forecasts at the time. Salesforce said it now expects earnings per share of about $1.20 to $1.21 for this quarter and sales of $7.82 billion to $7.83 bi","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9962299293","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962357729,"gmtCreate":1669728589661,"gmtModify":1676538230705,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Huh","listText":"Huh","text":"Huh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9962357729","repostId":"1123801521","repostType":4,"repost":{"id":"1123801521","pubTimestamp":1669723755,"share":"https://ttm.financial/m/news/1123801521?lang=&edition=fundamental","pubTime":"2022-11-29 20:09","market":"us","language":"en","title":"Apple’s Stock Buyback Bonanza Helps to Buoy Shares in Market Slump","url":"https://stock-news.laohu8.com/highlight/detail?id=1123801521","media":"Bloomberg","summary":"Apple has spent $550 billion on repurchases in a decadeCash returns help offset short-term concerns ","content":"<html><head></head><body><ul><li>Apple has spent $550 billion on repurchases in a decade</li><li>Cash returns help offset short-term concerns on iPhone output</li></ul><p>Apple Inc. has shelled out more than $550 billion buying back its own shares over the past decade, more than any other US company, and the technology juggernaut shows no signs of slowing down.</p><p>Even with the stock under pressure the past few days because of production delays for its newest handsets, Apple has fared better than other megacap tech companies in this year’s bear market. Solid earnings and generous buybacks have become a central part of the investment thesis, making the stock more attractive during turbulent times.</p><h3>Massive Buybacks</h3><p><img src=\"https://static.tigerbbs.com/7e5bdcde57916bace21e91d2ef7beada\" tg-width=\"637\" tg-height=\"351\" width=\"100%\" height=\"auto\"/>“That’s how they get the safe haven, the gold standard view from investors,” said Gene Munster, who covered Apple during a 21-year career as an analyst before co-founding venture-capital firm Loup Ventures. “When they just keep showing up and generating the kind of cash they do and buying their own stock back, it sends a strong message and I think they’ll continue to do that as much as they can.”</p><p>The next signpost for investors about Apple’s appetite for its own stock will come in April, which is when the company typically tops up its repurchase authorization. It’s added $90 billion to the program in each of the past two years. It’s still generating the earnings to replenish its bank account: It was the only megacap to rally in the wake of its results this quarter, and the report kept analysts from dramatically slashing estimates, in contrast to widespread cuts at its peers.</p><h3>Net Cash Neutral</h3><p>Even with economies slowing around the world, demand is still strong for Apple’s most expensive iPhones, analysts say. The problem now is manufacturing delays because of Covid lockdowns in China, leading to what analysts say are record wait times for deliveries just as the holiday shopping season kicks off. While that may cause a short-term hit to revenue, there’s no sign it’s denting the longer-term case for the stock.</p><p>Apple accumulated cash for years under co-founder Steve Jobs, and Chief Executive Officer Tim Cook has been working on ways to better invest the money and return it to shareholders. Apple, which ended last quarter with $169 billion in cash and marketable securities, aims to have net cash -- cash minus debt outstanding -- of zero in the future.</p><p>“This is an aggressive bet that they made, something that Steve Jobs would have never done, and it’s paid off nicely for the company and its investors in part because the stock has done well during that period,” Munster said of the share repurchases.</p><p>Apple, the world’s largest company with a market value of almost $2.3 trillion, also is in a league of its own when it comes to share buybacks.</p><p>In two of the last five years, it has outspent the second-highest repurchaser by least $50 billion. It spent almost $90 billion last year, about equal to the market value of Citigroup Inc.</p><h3>Dominating Buyback Charts</h3><p><img src=\"https://static.tigerbbs.com/e504e54952af625c58fcc077c57dc4c2\" tg-width=\"642\" tg-height=\"371\" width=\"100%\" height=\"auto\"/>Investors like buybacks because they reduce a company’s share count and thereby provide a lift to earnings per share. The risk is that a company overpays, buying at a time when the stock is overvalued. Apple, though, says it’s paid an average price of $47 a share since it began buying back stock a decade ago, compared with the current share price of $144.22.</p><p>Apple has steered clear from using its cash pile to make large acquisitions, at a time when scrutiny of the size and clout of megacap tech firms is rising. Bulls say buybacks have been a good strategy for the company, until it turns its resources to a new product category like automotive, which could prove more capital intensive.</p><p>“In general, investors would like to see cash being used to generate growth,” said Lewis Grant, senior portfolio manager for global equities at Federated Hermes Ltd. “But when you look at a company the size of Apple and the amount of cash that we’re really talking about, deploying tens of billions of dollars every year to generate growth is perhaps overly ambitious.”</p><p>Apple also pays a cash dividend, but it’s almost an afterthought. The quarterly payout of 23 cents a share equals 0.6% of the stock price, one of the lowest yields in the S&amp;P 500 index. Apple raised the payout by a penny in May and said it’s committed to annual increases.</p><p>However, investors don’t seem overly concerned how the company chooses to return capital, as long as they continue to do so.</p><p>“We actually don’t care which way you send the capital back to us,” said Mark Stoeckle, Adams Funds’ chief executive officer, adding that Apple would have to raise its dividend by “an enormous amount” to get to a yield that would matter. “We just don’t see that happening, so we’re just as happy with the stock buyback.”</p><h3>Tech Chart of the Day</h3><p><img src=\"https://static.tigerbbs.com/fa7ca1712e341191ddece38007542608\" tg-width=\"620\" tg-height=\"348\" width=\"100%\" height=\"auto\"/>Activision Blizzard Inc. analysts are growing more positive on the video-game maker, seeing value in the stock even as Microsoft Corp.’s planned acquisition looks increasingly dicey. At least six firms have upgraded their ratings in November, including three on Monday. The trend has lifted the Bloomberg consensus rating on the stock -- a ratio of its buy, hold and sell ratings -- to 4.6 out of 5, its highest since January, and up from an April low of 3.94. This has made Activision nearly as well liked among Wall Street analysts as Take-Two Interactive Software Inc., which boasts a consensus rating of 4.57, and above Electronic Arts Inc., which has a consensus rating of 4.29.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple’s Stock Buyback Bonanza Helps to Buoy Shares in Market Slump</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\">\nApple’s Stock Buyback Bonanza Helps to Buoy Shares in Market Slump\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-29 20:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-11-29/apple-aapl-stock-buyback-bonanza-helps-to-buoy-stock-in-market-slump?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple has spent $550 billion on repurchases in a decadeCash returns help offset short-term concerns on iPhone outputApple Inc. has shelled out more than $550 billion buying back its own shares over ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-11-29/apple-aapl-stock-buyback-bonanza-helps-to-buoy-stock-in-market-slump?srnd=premium\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.bloomberg.com/news/articles/2022-11-29/apple-aapl-stock-buyback-bonanza-helps-to-buoy-stock-in-market-slump?srnd=premium","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123801521","content_text":"Apple has spent $550 billion on repurchases in a decadeCash returns help offset short-term concerns on iPhone outputApple Inc. has shelled out more than $550 billion buying back its own shares over the past decade, more than any other US company, and the technology juggernaut shows no signs of slowing down.Even with the stock under pressure the past few days because of production delays for its newest handsets, Apple has fared better than other megacap tech companies in this year’s bear market. Solid earnings and generous buybacks have become a central part of the investment thesis, making the stock more attractive during turbulent times.Massive Buybacks“That’s how they get the safe haven, the gold standard view from investors,” said Gene Munster, who covered Apple during a 21-year career as an analyst before co-founding venture-capital firm Loup Ventures. “When they just keep showing up and generating the kind of cash they do and buying their own stock back, it sends a strong message and I think they’ll continue to do that as much as they can.”The next signpost for investors about Apple’s appetite for its own stock will come in April, which is when the company typically tops up its repurchase authorization. It’s added $90 billion to the program in each of the past two years. It’s still generating the earnings to replenish its bank account: It was the only megacap to rally in the wake of its results this quarter, and the report kept analysts from dramatically slashing estimates, in contrast to widespread cuts at its peers.Net Cash NeutralEven with economies slowing around the world, demand is still strong for Apple’s most expensive iPhones, analysts say. The problem now is manufacturing delays because of Covid lockdowns in China, leading to what analysts say are record wait times for deliveries just as the holiday shopping season kicks off. While that may cause a short-term hit to revenue, there’s no sign it’s denting the longer-term case for the stock.Apple accumulated cash for years under co-founder Steve Jobs, and Chief Executive Officer Tim Cook has been working on ways to better invest the money and return it to shareholders. Apple, which ended last quarter with $169 billion in cash and marketable securities, aims to have net cash -- cash minus debt outstanding -- of zero in the future.“This is an aggressive bet that they made, something that Steve Jobs would have never done, and it’s paid off nicely for the company and its investors in part because the stock has done well during that period,” Munster said of the share repurchases.Apple, the world’s largest company with a market value of almost $2.3 trillion, also is in a league of its own when it comes to share buybacks.In two of the last five years, it has outspent the second-highest repurchaser by least $50 billion. It spent almost $90 billion last year, about equal to the market value of Citigroup Inc.Dominating Buyback ChartsInvestors like buybacks because they reduce a company’s share count and thereby provide a lift to earnings per share. The risk is that a company overpays, buying at a time when the stock is overvalued. Apple, though, says it’s paid an average price of $47 a share since it began buying back stock a decade ago, compared with the current share price of $144.22.Apple has steered clear from using its cash pile to make large acquisitions, at a time when scrutiny of the size and clout of megacap tech firms is rising. Bulls say buybacks have been a good strategy for the company, until it turns its resources to a new product category like automotive, which could prove more capital intensive.“In general, investors would like to see cash being used to generate growth,” said Lewis Grant, senior portfolio manager for global equities at Federated Hermes Ltd. “But when you look at a company the size of Apple and the amount of cash that we’re really talking about, deploying tens of billions of dollars every year to generate growth is perhaps overly ambitious.”Apple also pays a cash dividend, but it’s almost an afterthought. The quarterly payout of 23 cents a share equals 0.6% of the stock price, one of the lowest yields in the S&P 500 index. Apple raised the payout by a penny in May and said it’s committed to annual increases.However, investors don’t seem overly concerned how the company chooses to return capital, as long as they continue to do so.“We actually don’t care which way you send the capital back to us,” said Mark Stoeckle, Adams Funds’ chief executive officer, adding that Apple would have to raise its dividend by “an enormous amount” to get to a yield that would matter. “We just don’t see that happening, so we’re just as happy with the stock buyback.”Tech Chart of the DayActivision Blizzard Inc. analysts are growing more positive on the video-game maker, seeing value in the stock even as Microsoft Corp.’s planned acquisition looks increasingly dicey. At least six firms have upgraded their ratings in November, including three on Monday. The trend has lifted the Bloomberg consensus rating on the stock -- a ratio of its buy, hold and sell ratings -- to 4.6 out of 5, its highest since January, and up from an April low of 3.94. This has made Activision nearly as well liked among Wall Street analysts as Take-Two Interactive Software Inc., which boasts a consensus rating of 4.57, and above Electronic Arts Inc., which has a consensus rating of 4.29.","news_type":1},"isVote":1,"tweetType":1,"viewCount":239,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966793066,"gmtCreate":1669636867356,"gmtModify":1676538216693,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9966793066","repostId":"1122831001","repostType":4,"repost":{"id":"1122831001","pubTimestamp":1669650374,"share":"https://ttm.financial/m/news/1122831001?lang=&edition=fundamental","pubTime":"2022-11-28 23:46","market":"us","language":"en","title":"It's A Long Road For Palantir","url":"https://stock-news.laohu8.com/highlight/detail?id=1122831001","media":"Seeking Alpha","summary":"SummaryPLTR stock is phenomenal for trading.The mounting pressure on growth is leading to reduced an","content":"<html><head></head><body><p>Summary</p><ul><li>PLTR stock is phenomenal for trading.</li><li>The mounting pressure on growth is leading to reduced and yet still stretched valuation.</li><li>While higher level key metrics need to hold up, and what 2023 will bring is still up in the air, margins are the focus.</li><li>Trading this stock is simply easier than the long road of holding forever, but we do think long-term potential is real.</li></ul><p>One stock that we believe is a paradise for traders is Palantir Technologies Inc. (NYSE:PLTR). For investors, it has been a total disaster and it is frustrating to see the lack of any kind of real rebound out of the single-digits. We continue to believe in the company long-term, but the company is not necessarily the stock.</p><p>The fact is that it is going to be a long road to real profits. That is why the market hates this stock. Further, the other key metric lines of interest like customer counts, revenues, etc., all seem to be slowing their rate of growth. This was a rapid grower just a year ago. But the world has quickly changed, and all things innovative that do not make a profit have been crushed. Folks, while all manner of financial engineering to show improved &#39;cash flow&#39;, and moderate EBITDA movement, the market does not care anymore. It wants to see a clear path to profitability. While the company has worked, or is starting to work, to rein in spending and to reduce the very dilutive stock-based compensation, the Street is assigning little faith.</p><p>Right now, even though we have outlined a possible Santa Claus rally into year end, we think that stocks like this are going to contend with heavy tax loss selling. The market as a whole has seen most who wanted to sell already sell, but for a trading stock like this, it creates further negative catalysts. If you are an investor, it is hard to not buy at $6-$7 per share. But $7 per share now is more expensive than $7 per share was just months ago, when you account for more shares, and normalization of growth. That is the problem. We continue to like trading swings on the stock long and short. As investors go, it is going to be a long road.</p><h3>The path is difficult, but not impossible</h3><p>Despite what has happened, we continue to like the company long-term, but Palantir stock is just not working right now. On top of the continued dilution, and now the pressure of tax loss harvesting, the company is also facing slowing commercial demand, and governments that will likely reduce spending due to lower tax revenues. Much of the world is already facing or in some cases may be in a recession. The United States has been resilient, but we suspect we see inflation coming down, and the deleterious impacts of increased pressure on consumers and businesses in this more challenging economic climate. With this reality the high level of growth seems to be grinding to a halt, and could stall further in 2023. Potential game-changing names like this that do not make real profit have all been obliterated.</p><p>A lot of traders do not realize (or do not care) that Palantir is not a new company. It has been around a long time, but became public in the height of the tech stock mania as we were coming out of COVID. The thing is that stocks like Palantir are indeed often extremely expensive in the early stages. The innovation space is unique. For a long time, the Street could not value them on an earnings basis because there are no or very little earnings. The Street looked to the future based on sales, cash flows, etc. One of the largest reasons stocks like this have been crushed, besides a &#39;tough market&#39; is interest rates. Few have been spared. The concern is that with rates rising, money-losing stocks are out of favor. Debt becomes more expensive, and many companies will suffer. And yet, Palantir has one key advantage. It is still a money loser, though getting there toward sustained breakeven operations, but it has an incredible balance-sheet position.</p><h3>No debt</h3><p>For years, Palantir may lose money or hover around breakeven. $7 is a level where we like this name, with all issues baked in. It is speculative, but we like it. Operationally, we are seeing some positive signs, and some negative signs. The company is not bleeding out and losing money hand over first. In fact, Given that there is no debt at all and a ton of cash on hand ($2.4 billion), Palantir is in strong shape to weather any recessionary pressures in 2023. It should not need to borrow any money, so in many ways, the high rate issue, for now, is somewhat moot. Though if their customers rely on debt to fund contracts, then it becomes a bit of a hidden risk. However, the balance sheet is a strength. The weakness is slowing growth.</p><h3>Slowing growth</h3><p>One thing that has investors concerned is the slowing growth. The company had been growing like a spreading wildfire. It is still in growth mode, but the pace has stalled. In the recently reported quarter, performance was strong on the top line and actually was ahead of consensus estimates. Total revenue grew 22% year-over-year to $478 million, beating estimates by almost $3 million. That is strong. But those costs continue to weigh, and the cumulative impact of dilution is anchoring earnings potential. This is evidenced by Palantir&#39;s profitability being lower than expected by $0.01 per share, and worse, guidance was less than consensus.</p><p>Both of Palantir&#39;s segments, the government and commercial segments, had shown incredible growth over the years. The commercial revenue stream specifically has been growing rapidly, while government results have been slowing for several quarters now. Deceleration of revenue growth is definitely a negative for a company without earnings. That said, U.S. growth is still strong. U.S. revenue rose 31% from last year, and the company grew overall customers by 66% year-over-year. Internationally the story is weaker, and likely reflects the resilience of the U.S. economy still despite global weakness.</p><p>Government revenue was still up 20% from a year ago, while U.S. commercial revenue grew 53%. Look this is certainly strong growth. The Street is fickle however, as despite it being strong reported growth, the pace has stalled. But there are positives that we feel are masked to some degree, such as in margins. Gross margin was 77%, very strong, though operating margin a bit lower. Adjusted income from operations, excluding stock-based compensation and related employer payroll taxes was $81 million, representing an adjusted operating margin of 17%. The target is really around 20%. The company lost $62 million in the quarter operationally otherwise. Now, the company likes to boast its cash flow but it does back out a number of key metrics that while as reported they are burning more cash than may be thought, on their adjusted basis, free cash flow was $37 million for the quarter, and the 8th-straight quarter for which this was positive on the adjusted metrics. The company earned $0.01 per share, showing it is teetering around breakeven.</p><h3>Valuation</h3><p>On the valuation front, Palantir stock is still expensive, even though shares have been crushed.</p><p><img src=\"https://static.tigerbbs.com/964639e96ef3383446822e45d937a223\" tg-width=\"640\" tg-height=\"904\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha PLTR Valuation Grade</p><p>Looking at traditional price-to-earnings is foolish, showing a very pricey at 161X. Ultimately, this is what the Street will care about. For now it gets many quarters to show its potential. The Street has doubts, hence a $7 per share price tag. Perhaps the more appropriate measure is the price-to-sales ratio, but not only is this still very high, the market has basically said it is no longer willing to pay for sky high multiples. Keep that in mind. At 8X sales, the valuation has improved dramatically from where it was last year, but this is still high. The price-to-book has been improving and we are watching this as well as EV/EBIT values. Some of this stretched valuation can be justified by the still strong growth metrics.</p><p><img src=\"https://static.tigerbbs.com/1ce1cbeed3f6c3c8d0a34c1fa114d009\" tg-width=\"640\" tg-height=\"923\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha PLTR Growth Metrics</p><p>So these are still solid grades though down from the past A+ values. The performance is coming down, and that reduction, that slower growth (even though it is still strong), builds in further discounts. Rapid growth has to lead somewhere. That is the mantra.</p><p>It is a long road from translating the growth metrics into tangible value, and shareholder returns. This is why the stock is stuck in the mud in the single-digits.</p><h3>Looking ahead</h3><p>So as we have been trying to hammer home, the growth concerns are real. The thing is that the Q4 guidance was pretty weak relative to expectations, despite slightly increasing the full-year outlook. For Q4, management guided to a base case of $503-505 million in revenue. This was below consensus of $506 million, but they upped their adjusted income from operations for the year by about 10% to $385 million.</p><p>Longer-term, the next few years, we think the company can still deliver 30% annual revenue growth. This will depend on how steep of a recession we get and how companies and governments value Palantir&#39;s AI decision making services. It remains to be seen but we would like to see more work done on margins to boost cash flow and to get to real earnings. Like it or not, this is what the Street wants to see. Margins need to improve and growth must remain to offset stock-based compensation. This is still a problem, and a problem for many similar companies. While Palantir&#39;s technology should help governments and businesses alike operate more efficiently, and therefore more profitably, we could see reduced spending on services like this as recession risks are mounting.</p><h3>Final thoughts</h3><p>The growth rate is slowing some, but the growth is strong. Palantir&#39;s valuation is still expensive, but we think the key indicator will be margins. Better margins drive earnings potential. As we head into year end, expect added pressure from tax loss harvesting. We still like trading the stock for when it runs with a hot market on good days, but for now, we think it will be difficult for the stock to advance much past $9-$10 without real movement on its performance on earnings potential. At the same time, should top line growth or customer count trends weaken further, the stock could see another wave lower. All things considered, it&#39;s still a buy at $7, but we think you should have a short-term view for gains. Take quick gains and move them elsewhere to core holdings. Sure, it is fine to own this long-term, we think it has potential, but it is a long road. It is a trading stock.</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>It's A Long Road For Palantir</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\">\nIt's A Long Road For Palantir\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-28 23:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4560760-its-long-road-for-palantir><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryPLTR stock is phenomenal for trading.The mounting pressure on growth is leading to reduced and yet still stretched valuation.While higher level key metrics need to hold up, and what 2023 will ...</p>\n\n<a href=\"https://seekingalpha.com/article/4560760-its-long-road-for-palantir\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4560760-its-long-road-for-palantir","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122831001","content_text":"SummaryPLTR stock is phenomenal for trading.The mounting pressure on growth is leading to reduced and yet still stretched valuation.While higher level key metrics need to hold up, and what 2023 will bring is still up in the air, margins are the focus.Trading this stock is simply easier than the long road of holding forever, but we do think long-term potential is real.One stock that we believe is a paradise for traders is Palantir Technologies Inc. (NYSE:PLTR). For investors, it has been a total disaster and it is frustrating to see the lack of any kind of real rebound out of the single-digits. We continue to believe in the company long-term, but the company is not necessarily the stock.The fact is that it is going to be a long road to real profits. That is why the market hates this stock. Further, the other key metric lines of interest like customer counts, revenues, etc., all seem to be slowing their rate of growth. This was a rapid grower just a year ago. But the world has quickly changed, and all things innovative that do not make a profit have been crushed. Folks, while all manner of financial engineering to show improved 'cash flow', and moderate EBITDA movement, the market does not care anymore. It wants to see a clear path to profitability. While the company has worked, or is starting to work, to rein in spending and to reduce the very dilutive stock-based compensation, the Street is assigning little faith.Right now, even though we have outlined a possible Santa Claus rally into year end, we think that stocks like this are going to contend with heavy tax loss selling. The market as a whole has seen most who wanted to sell already sell, but for a trading stock like this, it creates further negative catalysts. If you are an investor, it is hard to not buy at $6-$7 per share. But $7 per share now is more expensive than $7 per share was just months ago, when you account for more shares, and normalization of growth. That is the problem. We continue to like trading swings on the stock long and short. As investors go, it is going to be a long road.The path is difficult, but not impossibleDespite what has happened, we continue to like the company long-term, but Palantir stock is just not working right now. On top of the continued dilution, and now the pressure of tax loss harvesting, the company is also facing slowing commercial demand, and governments that will likely reduce spending due to lower tax revenues. Much of the world is already facing or in some cases may be in a recession. The United States has been resilient, but we suspect we see inflation coming down, and the deleterious impacts of increased pressure on consumers and businesses in this more challenging economic climate. With this reality the high level of growth seems to be grinding to a halt, and could stall further in 2023. Potential game-changing names like this that do not make real profit have all been obliterated.A lot of traders do not realize (or do not care) that Palantir is not a new company. It has been around a long time, but became public in the height of the tech stock mania as we were coming out of COVID. The thing is that stocks like Palantir are indeed often extremely expensive in the early stages. The innovation space is unique. For a long time, the Street could not value them on an earnings basis because there are no or very little earnings. The Street looked to the future based on sales, cash flows, etc. One of the largest reasons stocks like this have been crushed, besides a 'tough market' is interest rates. Few have been spared. The concern is that with rates rising, money-losing stocks are out of favor. Debt becomes more expensive, and many companies will suffer. And yet, Palantir has one key advantage. It is still a money loser, though getting there toward sustained breakeven operations, but it has an incredible balance-sheet position.No debtFor years, Palantir may lose money or hover around breakeven. $7 is a level where we like this name, with all issues baked in. It is speculative, but we like it. Operationally, we are seeing some positive signs, and some negative signs. The company is not bleeding out and losing money hand over first. In fact, Given that there is no debt at all and a ton of cash on hand ($2.4 billion), Palantir is in strong shape to weather any recessionary pressures in 2023. It should not need to borrow any money, so in many ways, the high rate issue, for now, is somewhat moot. Though if their customers rely on debt to fund contracts, then it becomes a bit of a hidden risk. However, the balance sheet is a strength. The weakness is slowing growth.Slowing growthOne thing that has investors concerned is the slowing growth. The company had been growing like a spreading wildfire. It is still in growth mode, but the pace has stalled. In the recently reported quarter, performance was strong on the top line and actually was ahead of consensus estimates. Total revenue grew 22% year-over-year to $478 million, beating estimates by almost $3 million. That is strong. But those costs continue to weigh, and the cumulative impact of dilution is anchoring earnings potential. This is evidenced by Palantir's profitability being lower than expected by $0.01 per share, and worse, guidance was less than consensus.Both of Palantir's segments, the government and commercial segments, had shown incredible growth over the years. The commercial revenue stream specifically has been growing rapidly, while government results have been slowing for several quarters now. Deceleration of revenue growth is definitely a negative for a company without earnings. That said, U.S. growth is still strong. U.S. revenue rose 31% from last year, and the company grew overall customers by 66% year-over-year. Internationally the story is weaker, and likely reflects the resilience of the U.S. economy still despite global weakness.Government revenue was still up 20% from a year ago, while U.S. commercial revenue grew 53%. Look this is certainly strong growth. The Street is fickle however, as despite it being strong reported growth, the pace has stalled. But there are positives that we feel are masked to some degree, such as in margins. Gross margin was 77%, very strong, though operating margin a bit lower. Adjusted income from operations, excluding stock-based compensation and related employer payroll taxes was $81 million, representing an adjusted operating margin of 17%. The target is really around 20%. The company lost $62 million in the quarter operationally otherwise. Now, the company likes to boast its cash flow but it does back out a number of key metrics that while as reported they are burning more cash than may be thought, on their adjusted basis, free cash flow was $37 million for the quarter, and the 8th-straight quarter for which this was positive on the adjusted metrics. The company earned $0.01 per share, showing it is teetering around breakeven.ValuationOn the valuation front, Palantir stock is still expensive, even though shares have been crushed.Seeking Alpha PLTR Valuation GradeLooking at traditional price-to-earnings is foolish, showing a very pricey at 161X. Ultimately, this is what the Street will care about. For now it gets many quarters to show its potential. The Street has doubts, hence a $7 per share price tag. Perhaps the more appropriate measure is the price-to-sales ratio, but not only is this still very high, the market has basically said it is no longer willing to pay for sky high multiples. Keep that in mind. At 8X sales, the valuation has improved dramatically from where it was last year, but this is still high. The price-to-book has been improving and we are watching this as well as EV/EBIT values. Some of this stretched valuation can be justified by the still strong growth metrics.Seeking Alpha PLTR Growth MetricsSo these are still solid grades though down from the past A+ values. The performance is coming down, and that reduction, that slower growth (even though it is still strong), builds in further discounts. Rapid growth has to lead somewhere. That is the mantra.It is a long road from translating the growth metrics into tangible value, and shareholder returns. This is why the stock is stuck in the mud in the single-digits.Looking aheadSo as we have been trying to hammer home, the growth concerns are real. The thing is that the Q4 guidance was pretty weak relative to expectations, despite slightly increasing the full-year outlook. For Q4, management guided to a base case of $503-505 million in revenue. This was below consensus of $506 million, but they upped their adjusted income from operations for the year by about 10% to $385 million.Longer-term, the next few years, we think the company can still deliver 30% annual revenue growth. This will depend on how steep of a recession we get and how companies and governments value Palantir's AI decision making services. It remains to be seen but we would like to see more work done on margins to boost cash flow and to get to real earnings. Like it or not, this is what the Street wants to see. Margins need to improve and growth must remain to offset stock-based compensation. This is still a problem, and a problem for many similar companies. While Palantir's technology should help governments and businesses alike operate more efficiently, and therefore more profitably, we could see reduced spending on services like this as recession risks are mounting.Final thoughtsThe growth rate is slowing some, but the growth is strong. Palantir's valuation is still expensive, but we think the key indicator will be margins. Better margins drive earnings potential. As we head into year end, expect added pressure from tax loss harvesting. We still like trading the stock for when it runs with a hot market on good days, but for now, we think it will be difficult for the stock to advance much past $9-$10 without real movement on its performance on earnings potential. At the same time, should top line growth or customer count trends weaken further, the stock could see another wave lower. All things considered, it's still a buy at $7, but we think you should have a short-term view for gains. Take quick gains and move them elsewhere to core holdings. Sure, it is fine to own this long-term, we think it has potential, but it is a long road. It is a trading stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966201992,"gmtCreate":1669534444616,"gmtModify":1676538205705,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9966201992","repostId":"2286317799","repostType":4,"repost":{"id":"2286317799","pubTimestamp":1669522462,"share":"https://ttm.financial/m/news/2286317799?lang=&edition=fundamental","pubTime":"2022-11-27 12:14","market":"us","language":"en","title":"Starbucks Will Perk Up Its Revenue Within 4 Years (Technical Analysis)","url":"https://stock-news.laohu8.com/highlight/detail?id=2286317799","media":"Seekingalpha","summary":"Starbucks (NASDAQ: SBUX) is a large high-end coffee retailer based out of Seattle, Washington. This ","content":"<html><head></head><body><p>Starbucks (NASDAQ: SBUX) is a large high-end coffee retailer based out of Seattle, Washington. This company has shown some flat growth via fundamentals analysis, with the stock price nearly doubling in four years. Simple moving average periods have demonstrated relative positive strength over the last 200 working days. As a result, the stock price has accelerated by 15% in the previous month.</p><p>It seems wise to look at this company for your portfolio for both short-term return and long-term growth.</p><h2>Fundamentals Show Revenue will Double in 4 Years</h2><p><i>Ratios</i></p><p>The current ratio was most substantial in 2018, and Starbucks&#39; current ratio has been lower in the last five years. The quick ratio, as well as the cash ratio, have similar patterns to the current ratio.</p><table><tbody><tr><td><p>Metric</p></td><td><p>2018</p></td><td><p>2019</p></td><td><p>2020</p></td><td><p>2021</p></td><td><p>2022</p></td></tr><tr><td><p>Period</p></td><td><p>F.Y.</p></td><td><p>F.Y.</p></td><td><p>F.Y.</p></td><td><p>F.Y.</p></td><td><p>FY</p></td></tr><tr><td><p>Current ratio</p></td><td><p>2.198</p></td><td><p>0.917</p></td><td><p>1.063</p></td><td><p>1.197</p></td><td><p>0.767</p></td></tr><tr><td><p>Quick ratio</p></td><td><p>1.862</p></td><td><p>0.612</p></td><td><p>0.820</p></td><td><p>0.951</p></td><td><p>0.476</p></td></tr><tr><td><p>Cash ratio</p></td><td><p>1.540</p></td><td><p>0.436</p></td><td><p>0.592</p></td><td><p>0.792</p></td><td><p>0.308</p></td></tr><tr><td><p>Days of sales outstanding</p></td><td><p>24.341</p></td><td><p>14.049</p></td><td><p>21.657</p></td><td><p>14.232</p></td><td><p>13.304</p></td></tr></tbody></table><p>Click to enlarge</p><p><i>Data</i></p><p>This current year has been a solid year for Starbucks, with its simple moving average of over 200 days has been relatively strong. Additionally, as the U.S. stock market appears to be bottoming, the latest 20 days simple moving report strength has also been very robust.</p><table><tbody><tr><td><p>Metric</p></td><td><p>Values</p></td></tr><tr><td><p>SMA20</p></td><td><p>8.18%</p></td></tr><tr><td><p>SMA50</p></td><td><p>10.33%</p></td></tr><tr><td><p>SMA200</p></td><td><p>16.72%</p></td></tr></tbody></table><p>Source: FinViz</p><p><i>Enterprise</i></p><p>Despite weaker fundamental ratios, the stock price has accelerated from 2018 to nearly double up to 2021. This year shows a more inadequate market cap and stock price performance, but Starbucks may fully recover its 2021 levels with the most recent returns.</p><table><tbody><tr><td><p>Metric</p></td><td><p>2018</p></td><td><p>2019</p></td><td><p>2020</p></td><td><p>2021</p></td><td><p>2022</p></td></tr><tr><td><p>Symbol</p></td><td><p>SBUX</p></td><td><p>SBUX</p></td><td><p>SBUX</p></td><td><p>SBUX</p></td><td><p>SBUX</p></td></tr><tr><td><p>Stock price</p></td><td><p>58.590</p></td><td><p>84.130</p></td><td><p>90.050</p></td><td><p>111.450</p></td><td><p>87.100</p></td></tr><tr><td><p>Number of shares</p></td><td><p>1.309 B</p></td><td><p>1.185 B</p></td><td><p>1.173 B</p></td><td><p>1.180 B</p></td><td><p>1.153 B</p></td></tr><tr><td><p>Market capitalization</p></td><td><p>76.700 B</p></td><td><p>99.660 B</p></td><td><p>105.656 B</p></td><td><p>131.511 B</p></td><td><p>100.452 B</p></td></tr></tbody></table><p>Source: Financial Modelling Prep</p><p><i>Estimate</i></p><p>With current revenue growth underway, if the USA stock market can sustain its momentum, Starbucks may be able to live up to its forecasted numbers with some relative strength into 2026. There will be some decent growth with a strong stock dividend yield and solid performance, a rare feature for any American stock. Also, Starbucks&#39; net profit should grow by 50% as projected into 2026.</p><table><tbody><tr><td><p>YEARLY ESTIMATES</p></td><td><p>2022</p></td><td><p>2023</p></td><td><p>2024</p></td><td><p>2025</p></td><td><p>2026</p></td></tr><tr><td><p>Revenue</p></td><td><p>32,158</p></td><td><p>35,841</p></td><td><p>39,756</p></td><td><p>43,774</p></td><td><p>47,618</p></td></tr><tr><td><p>Dividend</p></td><td><p>1.97</p></td><td><p>2.16</p></td><td><p>2.32</p></td><td><p>2.46</p></td><td><p>3.18</p></td></tr><tr><td><p>Dividend Yield (in %)</p></td><td><p>2.01 %</p></td><td><p>2.20 %</p></td><td><p>2.37 %</p></td><td><p>2.51 %</p></td><td><p>3.25 %</p></td></tr><tr><td><p>EPS</p></td><td><p>2.87</p></td><td><p>3.40</p></td><td><p>4.00</p></td><td><p>4.71</p></td><td><p>5.35</p></td></tr><tr><td><p>P/E Ratio</p></td><td><p>34.14</p></td><td><p>28.81</p></td><td><p>24.50</p></td><td><p>20.82</p></td><td><p>18.31</p></td></tr><tr><td><p>EBITDA</p></td><td><p>6,101</p></td><td><p>7,006</p></td><td><p>7,951</p></td><td><p>9,030</p></td><td><p>-</p></td></tr><tr><td><p>Net Profit</p></td><td><p>3,320</p></td><td><p>3,891</p></td><td><p>4,489</p></td><td><p>5,178</p></td><td><p>5,573</p></td></tr></tbody></table><p>Source: BusinessInsider</p><h2>Technical Analysis Shows Optimal Time for Market Orders</h2><p><i>Fibonacci</i></p><p>If one was to look at the Fibonacci levels based on the most recent Starbucks price action, the timing is near perfect for taking market entries to get quick returns. It might take a while for the Starbucks Fibonacci trendline to update itself on the recent stock price. It is hard to optimize when to take market entries, but sometimes you can use the 382 Fibonacci level to mark potential entries. You want to take advantage of potential profitable returns as you wait for the stock price to cross the trend line.</p><p><img src=\"https://static.tigerbbs.com/84f2a85a2289836f1dca662a8c916e4c\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>fibonacci sbux (custom platform )</p><p><i>Bollinger Bonds</i></p><p>As one can see with the Bollinger upper band, as Starbucks&#39; stock price quickly moves up, the upper band tries to keep up to date with its solid momentum. The real concerns about this momentum are how long this upswing will last.</p><p><img src=\"https://static.tigerbbs.com/5ec84fd37f70d7cbf179dae87dc00c64\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>bollinger sbux (custom platform)</p><p><i>RSI</i></p><p>As the stock price of Starbucks has very high momentum, it has nearly reached the RSI overbought condition. It is common to see stock prices pull back from this to allow new rates to come into the market to adjust the RSI on the latest stock price moves.</p><p><img src=\"https://static.tigerbbs.com/af5dc8cf6f97bcded06fcb7583be5a5c\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>sbux rsi (custom platform)</p><p>Prediction via AI</p><p><i>Monte Carlo</i></p><p>This Monte Carlo simulation reveals some extreme upward-moving prediction paths confirming that the stock price of Starbucks should be reasonably sustainable over the short term. Also, the accompanying normalized distribution shows more significant estimates on the right side of the latest value in stock price.</p><p><img src=\"https://static.tigerbbs.com/9d1fb5479e0da645ef6eb7add78cfbd7\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>monte carlo sbux (custom platform)</p><p><i>Regression</i></p><p>Another way to verify sustainable stock price moves is using the forecasted 30-day red regression line using artificial intelligence. Here you can see how the Starbucks stock price continues to increase, which is not flat. So, the stock price momentum will moderate slower but should outperform the overall S &amp; P 500 stock index.</p><p><img src=\"https://static.tigerbbs.com/ab51f196b74b2b0e6b13a1e642a87909\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>regression sbux (custom platform)</p><h2>Risk is Lower for Higher Price Returns</h2><p><i>Price vs. Short Volume</i></p><p>It is very encouraging to see the acceleration of Starbucks&#39; stock price shorting volume against the total volume drop. The CEO and founder have repurchased Starbucks, which confirms investors&#39; confidence in the performance of the stock price of Starbucks as it continues to accelerate up. If there were a further concern about the stock price to be questioned, you would see the shorting volume be over 50% of the total amount traded.</p><p><img src=\"https://static.tigerbbs.com/17b43f08a527b3a3d674aadf558eab96\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>short sbux (custom platform)</p><p>Source: StockGrid</p><p><i>Recommendation</i></p><p>As one can see, many market analysts can see the strong buy signals from Starbucks. Therefore, based on the most recent data, they put out a solid buy. As one can surmise, the strong buy should percolate over weekly and maybe even monthly intervals.</p><table><tbody><tr><td><p>Interval</p></td><td><p>RECOMMENDATION</p></td><td><p>BUY</p></td><td><p>SELL</p></td><td><p>NEUTRAL</p></td></tr><tr><td><p>One month</p></td><td><p>BUY</p></td><td><p>10</p></td><td><p>6</p></td><td><p>10</p></td></tr><tr><td><p>One week</p></td><td><p>BUY</p></td><td><p>15</p></td><td><p>3</p></td><td><p>8</p></td></tr><tr><td><p>One day</p></td><td><p>STRONG_BUY</p></td><td><p>16</p></td><td><p>1</p></td><td><p>9</p></td></tr></tbody></table><p>Source: Trading View</p><p><i>Sustainability</i></p><p>As we know, Starbucks is a relatively high-profile social justice company. Still, when its sustainability or ESG rating is only average performance, the company should focus on its product with its market messaging instead.</p><table><tbody><tr><td><p>Metric</p></td><td><p>Value</p></td></tr><tr><td><p>Social score</p></td><td><p>14.5</p></td></tr><tr><td><p>Peer count</p></td><td><p>44</p></td></tr><tr><td><p>Governance score</p></td><td><p>4.21</p></td></tr><tr><td><p>Total esg</p></td><td><p>24.83</p></td></tr><tr><td><p>Highest controversy</p></td><td><p>3</p></td></tr><tr><td><p>ESG performance</p></td><td><p>AVG_PERF</p></td></tr><tr><td><p>Peer group</p></td><td><p>Consumer Services</p></td></tr><tr><td><p>Environment score</p></td><td><p>6.11</p></td></tr></tbody></table><p>Source: Yahoo Finance</p><h3>Due Diligence</h3><p><i>Price Target</i></p><p><img src=\"https://static.seekingalpha.com/uploads/2022/11/23/1069318-16691886796571503.jpeg\" tg-width=\"640\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>target sbux (custom platform )</p><p>Source: BusinessInsider</p><h2>Insider</h2><p>Starbucks CEO Howard Schultz also purchased a high volume of Starbucks shares in September, showing extra confidence in the company. It also says other executives feel the same way, reflecting upon Starbucks&#39;s future as a fast-growing company.</p><p><i>Insider Stats</i></p><table><tbody><tr><td><p>Metric</p></td><td><p>X</p></td><td><p>Filing Date</p></td><td><p>Trading Date</p></td><td><p>Ticker</p></td><td><p>Insider</p></td><td><p>Title</p></td><td><p>Trade Type</p></td><td><p>Price</p></td><td><p>Quantity</p></td><td><p>Owned</p></td><td><p>Delta Own</p></td><td><p>Value</p></td></tr><tr><td><p>0</p></td><td><p>nan</p></td><td><p>2022-09-16 18:01:39</p></td><td><p>2022-09-15</p></td><td><p>SBUX</p></td><td><p>Hobson Mellody L</p></td><td><p>Dir</p></td><td><p>P - Purchase</p></td><td><p>$92.58</p></td><td><p>+54,750</p></td><td><p>716,400</p></td><td><p>+8%</p></td><td><p>+$5,068,536</p></td></tr><tr><td><p>1</p></td><td><p>D</p></td><td><p>2022-09-16 17:59:52</p></td><td><p>2022-09-15</p></td><td><p>SBUX</p></td><td><p>Jenkins Zabrina</p></td><td><p>acting evp, G.C.</p></td><td><p>S - Sale+OE</p></td><td><p>$93.00</p></td><td><p>-4,020</p></td><td><p>36,337</p></td><td><p>-10%</p></td><td><p>-$373,860</p></td></tr><tr><td><p>2</p></td><td><p>nan</p></td><td><p>2022-09-16 17:56:45</p></td><td><p>2022-09-15</p></td><td><p>SBUX</p></td><td><p>Allison Richard E Jr</p></td><td><p>Dir</p></td><td><p>P - Purchase</p></td><td><p>$92.53</p></td><td><p>+10,000</p></td><td><p>23,658</p></td><td><p>+73%</p></td><td><p>+$925,320</p></td></tr></tbody></table><p>Source: Open Insider</p><p><i>Insider Activity</i></p><table><tbody><tr><td><p>Date</p></td><td><p>Shares Traded</p></td><td><p>Shares Held</p></td><td><p>Price</p></td><td><p>Type</p></td><td><p>Option</p></td><td><p>Insider</p></td><td><p>Trade</p></td></tr><tr><td><p>2022-09-14</p></td><td><p>54,750.00</p></td><td><p>433,254.03</p></td><td><p>92.58</p></td><td><p>Buy</p></td><td><p>No</p></td><td><p>SCHULTZ HOWARD D</p></td><td><p>54750.0</p></td></tr><tr><td><p>2022-09-30</p></td><td><p>43,912.00</p></td><td><p>43,912.00</p></td><td><p>nan</p></td><td><p>Buy</p></td><td><p>No</p></td><td><p>SCHULTZ HOWARD D</p></td><td><p>43912.0</p></td></tr><tr><td><p>2022-11-09</p></td><td><p>56.00</p></td><td><p>36,369.21</p></td><td><p>96.26</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>SCHULTZ HOWARD D</p></td><td><p>-56.0</p></td></tr><tr><td><p>2022-11-09</p></td><td><p>990.00</p></td><td><p>39,527.00</p></td><td><p>96.26</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>Jenkins Zabrina</p></td><td><p>-990.0</p></td></tr><tr><td><p>2022-11-09</p></td><td><p>1,599.00</p></td><td><p>52,366.42</p></td><td><p>96.26</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>Jenkins Zabrina</p></td><td><p>-1599.0</p></td></tr><tr><td><p>2022-11-10</p></td><td><p>234.00</p></td><td><p>39,293.00</p></td><td><p>97.38</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>TERUEL JAVIER G</p></td><td><p>-234.0</p></td></tr><tr><td><p>2022-11-10</p></td><td><p>67.00</p></td><td><p>36,302.21</p></td><td><p>97.38</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>Ramo Joshua Cooper</p></td><td><p>-67.0</p></td></tr><tr><td><p>2022-11-10</p></td><td><p>1,507.00</p></td><td><p>50,859.42</p></td><td><p>97.38</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>Campion Andrew</p></td><td><p>-1507.0</p></td></tr><tr><td><p>2022-11-13</p></td><td><p>241.00</p></td><td><p>36,061.21</p></td><td><p>97.42</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>KNUDSTORP JORGEN VIG</p></td><td><p>-241.0</p></td></tr><tr><td><p>2022-11-13</p></td><td><p>3,311.00</p></td><td><p>47,548.42</p></td><td><p>97.42</p></td><td><p>Sell</p></td><td><p>No</p></td><td><p>Shih Clara</p></td><td><p>-3311.0</p></td></tr></tbody></table><p>Source: BusinessInsider</p><h2>Conclusion</h2><p>Starbucks is entering an exciting time with the recent acceleration in its stock price. When you have the CEO and founder buying stock, take note to do the same. The same case can be said for market analysts&#39; recommendations, which follow a strong buy most recently. Forward guidance also indicates a potential increase of 40+% within four years. Based on where the current stock price is at the optimal time to make trades as it reaches a Fibonacci level of 0.382 level. As a result, the result makes sense on the timing for entries and potential short terms with long-term include with 40+% revenue increase.</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>Starbucks Will Perk Up Its Revenue Within 4 Years (Technical Analysis)</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\">\nStarbucks Will Perk Up Its Revenue Within 4 Years (Technical Analysis)\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-27 12:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4560524-starbucks-will-perk-up-it-revenue-within-4-years><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Starbucks (NASDAQ: SBUX) is a large high-end coffee retailer based out of Seattle, Washington. This company has shown some flat growth via fundamentals analysis, with the stock price nearly doubling ...</p>\n\n<a href=\"https://seekingalpha.com/article/4560524-starbucks-will-perk-up-it-revenue-within-4-years\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SBUX":"星巴克"},"source_url":"https://seekingalpha.com/article/4560524-starbucks-will-perk-up-it-revenue-within-4-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2286317799","content_text":"Starbucks (NASDAQ: SBUX) is a large high-end coffee retailer based out of Seattle, Washington. This company has shown some flat growth via fundamentals analysis, with the stock price nearly doubling in four years. Simple moving average periods have demonstrated relative positive strength over the last 200 working days. As a result, the stock price has accelerated by 15% in the previous month.It seems wise to look at this company for your portfolio for both short-term return and long-term growth.Fundamentals Show Revenue will Double in 4 YearsRatiosThe current ratio was most substantial in 2018, and Starbucks' current ratio has been lower in the last five years. The quick ratio, as well as the cash ratio, have similar patterns to the current ratio.Metric20182019202020212022PeriodF.Y.F.Y.F.Y.F.Y.FYCurrent ratio2.1980.9171.0631.1970.767Quick ratio1.8620.6120.8200.9510.476Cash ratio1.5400.4360.5920.7920.308Days of sales outstanding24.34114.04921.65714.23213.304Click to enlargeDataThis current year has been a solid year for Starbucks, with its simple moving average of over 200 days has been relatively strong. Additionally, as the U.S. stock market appears to be bottoming, the latest 20 days simple moving report strength has also been very robust.MetricValuesSMA208.18%SMA5010.33%SMA20016.72%Source: FinVizEnterpriseDespite weaker fundamental ratios, the stock price has accelerated from 2018 to nearly double up to 2021. This year shows a more inadequate market cap and stock price performance, but Starbucks may fully recover its 2021 levels with the most recent returns.Metric20182019202020212022SymbolSBUXSBUXSBUXSBUXSBUXStock price58.59084.13090.050111.45087.100Number of shares1.309 B1.185 B1.173 B1.180 B1.153 BMarket capitalization76.700 B99.660 B105.656 B131.511 B100.452 BSource: Financial Modelling PrepEstimateWith current revenue growth underway, if the USA stock market can sustain its momentum, Starbucks may be able to live up to its forecasted numbers with some relative strength into 2026. There will be some decent growth with a strong stock dividend yield and solid performance, a rare feature for any American stock. Also, Starbucks' net profit should grow by 50% as projected into 2026.YEARLY ESTIMATES20222023202420252026Revenue32,15835,84139,75643,77447,618Dividend1.972.162.322.463.18Dividend Yield (in %)2.01 %2.20 %2.37 %2.51 %3.25 %EPS2.873.404.004.715.35P/E Ratio34.1428.8124.5020.8218.31EBITDA6,1017,0067,9519,030-Net Profit3,3203,8914,4895,1785,573Source: BusinessInsiderTechnical Analysis Shows Optimal Time for Market OrdersFibonacciIf one was to look at the Fibonacci levels based on the most recent Starbucks price action, the timing is near perfect for taking market entries to get quick returns. It might take a while for the Starbucks Fibonacci trendline to update itself on the recent stock price. It is hard to optimize when to take market entries, but sometimes you can use the 382 Fibonacci level to mark potential entries. You want to take advantage of potential profitable returns as you wait for the stock price to cross the trend line.fibonacci sbux (custom platform )Bollinger BondsAs one can see with the Bollinger upper band, as Starbucks' stock price quickly moves up, the upper band tries to keep up to date with its solid momentum. The real concerns about this momentum are how long this upswing will last.bollinger sbux (custom platform)RSIAs the stock price of Starbucks has very high momentum, it has nearly reached the RSI overbought condition. It is common to see stock prices pull back from this to allow new rates to come into the market to adjust the RSI on the latest stock price moves.sbux rsi (custom platform)Prediction via AIMonte CarloThis Monte Carlo simulation reveals some extreme upward-moving prediction paths confirming that the stock price of Starbucks should be reasonably sustainable over the short term. Also, the accompanying normalized distribution shows more significant estimates on the right side of the latest value in stock price.monte carlo sbux (custom platform)RegressionAnother way to verify sustainable stock price moves is using the forecasted 30-day red regression line using artificial intelligence. Here you can see how the Starbucks stock price continues to increase, which is not flat. So, the stock price momentum will moderate slower but should outperform the overall S & P 500 stock index.regression sbux (custom platform)Risk is Lower for Higher Price ReturnsPrice vs. Short VolumeIt is very encouraging to see the acceleration of Starbucks' stock price shorting volume against the total volume drop. The CEO and founder have repurchased Starbucks, which confirms investors' confidence in the performance of the stock price of Starbucks as it continues to accelerate up. If there were a further concern about the stock price to be questioned, you would see the shorting volume be over 50% of the total amount traded.short sbux (custom platform)Source: StockGridRecommendationAs one can see, many market analysts can see the strong buy signals from Starbucks. Therefore, based on the most recent data, they put out a solid buy. As one can surmise, the strong buy should percolate over weekly and maybe even monthly intervals.IntervalRECOMMENDATIONBUYSELLNEUTRALOne monthBUY10610One weekBUY1538One daySTRONG_BUY1619Source: Trading ViewSustainabilityAs we know, Starbucks is a relatively high-profile social justice company. Still, when its sustainability or ESG rating is only average performance, the company should focus on its product with its market messaging instead.MetricValueSocial score14.5Peer count44Governance score4.21Total esg24.83Highest controversy3ESG performanceAVG_PERFPeer groupConsumer ServicesEnvironment score6.11Source: Yahoo FinanceDue DiligencePrice Targettarget sbux (custom platform )Source: BusinessInsiderInsiderStarbucks CEO Howard Schultz also purchased a high volume of Starbucks shares in September, showing extra confidence in the company. It also says other executives feel the same way, reflecting upon Starbucks's future as a fast-growing company.Insider StatsMetricXFiling DateTrading DateTickerInsiderTitleTrade TypePriceQuantityOwnedDelta OwnValue0nan2022-09-16 18:01:392022-09-15SBUXHobson Mellody LDirP - Purchase$92.58+54,750716,400+8%+$5,068,5361D2022-09-16 17:59:522022-09-15SBUXJenkins Zabrinaacting evp, G.C.S - Sale+OE$93.00-4,02036,337-10%-$373,8602nan2022-09-16 17:56:452022-09-15SBUXAllison Richard E JrDirP - Purchase$92.53+10,00023,658+73%+$925,320Source: Open InsiderInsider ActivityDateShares TradedShares HeldPriceTypeOptionInsiderTrade2022-09-1454,750.00433,254.0392.58BuyNoSCHULTZ HOWARD D54750.02022-09-3043,912.0043,912.00nanBuyNoSCHULTZ HOWARD D43912.02022-11-0956.0036,369.2196.26SellNoSCHULTZ HOWARD D-56.02022-11-09990.0039,527.0096.26SellNoJenkins Zabrina-990.02022-11-091,599.0052,366.4296.26SellNoJenkins Zabrina-1599.02022-11-10234.0039,293.0097.38SellNoTERUEL JAVIER G-234.02022-11-1067.0036,302.2197.38SellNoRamo Joshua Cooper-67.02022-11-101,507.0050,859.4297.38SellNoCampion Andrew-1507.02022-11-13241.0036,061.2197.42SellNoKNUDSTORP JORGEN VIG-241.02022-11-133,311.0047,548.4297.42SellNoShih Clara-3311.0Source: BusinessInsiderConclusionStarbucks is entering an exciting time with the recent acceleration in its stock price. When you have the CEO and founder buying stock, take note to do the same. The same case can be said for market analysts' recommendations, which follow a strong buy most recently. Forward guidance also indicates a potential increase of 40+% within four years. Based on where the current stock price is at the optimal time to make trades as it reaches a Fibonacci level of 0.382 level. As a result, the result makes sense on the timing for entries and potential short terms with long-term include with 40+% revenue increase.","news_type":1},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966177252,"gmtCreate":1669466441477,"gmtModify":1676538199525,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9966177252","repostId":"1170146184","repostType":4,"repost":{"id":"1170146184","pubTimestamp":1669522674,"share":"https://ttm.financial/m/news/1170146184?lang=&edition=fundamental","pubTime":"2022-11-27 12:17","market":"us","language":"en","title":"3 Tech Stocks You Can Count on in This Uncertain Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1170146184","media":"InvestorPlace","summary":"Here are three top-quality tech stocks investors can count on in the long term.Apple(AAPL): Warren B","content":"<html><head></head><body><ul><li>Here are three top-quality tech stocks investors can count on in the long term.</li><li><b>Apple</b>(<b>AAPL</b>): Warren Buffett continues to buy because of its economic moat.</li><li><b>Advanced Micro Devices</b>(<b>AMD</b>): Analysts love this beaten-down tech name.</li><li><b>Nvidia</b>(<b>NVDA</b>): The bad news is already priced into downed stocks like Nvidia.</li></ul><p>2022 was a tough one for tech stocks. Most were walloped with higher interest rates, fears of aggressive rate hikes, geopolitical issues, economic concerns, and fed-up consumers. It chased even the sanest investors from the market. While it’s impossible to find a risk-free investment, some are safer than others – especially if they’re leaders in their sectors, with wide economic moats.</p><p>In fact, one of the best ways to spot strong tech stocks is to follow the Warren Buffett model, which is to invest in simple companies that are easy to understand; companies with predictable and proven earnings; companies that can be bought at a reasonable price; and companies with“economic moat,”or a unique advantage over its competition. Seeing that Warren Buffett is now worth about $108.2 billion, it’s a safe bet he knows a thing or two about safe investing.</p><p><b>Apple (AAPL)</b></p><p>With a diversified revenue stream, and an ability to adapt to new consumer trends, <b>Apple</b> (NASDAQ:<b>AAPL</b>) will always be one of the strong tech stocks to bet on. Even Warren Buffett once said he continues to invest in Apple because of its brand, ecosystem, and strong economic moat.</p><p>In addition, we have to consider that Apple is a global leader in innovation. Just look at the iPhone alone. First introduced to the public in 2007, it’s now one of the most popular mobile phones in the world, with a growing market share. Better, earnings have been solid.</p><p>The company just beat expectations on revenue and profits, and it showed that global demand for its products is still high. In its fourth quarter, the company’s revenue was up 8% to $90 billion. Mac sales were up 25% to $11.5 billion in the quarter. iPhone sales were up 10% to $42.6 billion. Operating income was up by 5% to $25 billion. EPS was up 4% to $1.29, putting it above expectations for $1.27.</p><p>Also, analysts, such as Deutsche Bank’s Sidney Ho, say Apple is trading at a reasonable valuation and has a buy rating with a price target of $175. Apple also carries a dividend yield of 0.66%, and it’s been aggressive with stock buybacks.</p><p><b>Tech Stocks: Advanced Micro Devices (AMD)</b></p><p><b>Advanced Micro Devices</b> (NASDAQ: <b>AMD</b>) was butchered for most of the year. But that’ll happen when most of the tech stock sector is dragging just about everything lower. However, after falling from about $150 to a low of about $60, the AMD stock is showing strong signs of life. With patience, I’d like to see the AMD stock run from its current price of $75.25 to $120 in the near term.</p><p>Analysts like the AMD stock, too. UBS upgraded AMD to a buy rating with a price target of $95 a share. Baird analyst Tristan Gerra also just upgraded the beaten-down tech name to outperform with a price target of $100. He believes the company’s newest Genoa chips could widen the company’s competitive moat. Credit Suisse analyst Chris Caso also initiated coverage of AMD with an outperform rating, with a price target of $90.</p><p>Piper Sandler analyst Harsh Kumar is also overweight on the stock, with a price target of $90. He added that earnings appear to be bottoming and that PC inventory should start to clear out in the early part of 2023. In addition, he believes AMD is a great way to trade the server uptrend and cloud strength.</p><p><b>Tech Stocks: Nvidia (NVDA)</b></p><p>While <b>Nvidia</b> (NASDAQ:<b>NVDA</b>) was cut in half this year, it’s still one quality, safe name investors can count on. For one, the company makes the chips that are used to power some of the world’s most advanced technologies, including gaming, supercomputing, the cloud, artificial intelligence, machine learning, virtual reality, augmented reality, autonomous driving, etc. Again, NVDA was destroyed in 2022. But it’s still a high-quality name to count on.</p><p>Better, it’s also getting a jump on the Industrial Omniverse, which is already being used by major companies, like <b>Lowe’s</b> (NYSE:LOW), <b>BMW</b>(OTCMKTS:BMWYY), <b>Siemens</b>(OTCMKTS:SIEGY), and <b>Lockheed Martin</b> (NYSE:LMT).</p><p>Analysts, like Credit Suisse’s Chris Casso, say there’s been enough bad news for semiconductors to lower the risk of investing. The firm also said Nvidia was one of its top picks thanks to its strength in artificial intelligence, computing, and data centers. Better, the firm now has an outperform rating on the stock, with a $210 price target. Piper Sandler analyst Harsh Kumar also sees a near-term turnaround for Nvidia and has an overweight rating on the stock. For me, from a current price of $160.38, I’d like to see the stock run back to $195 by the first half of the New Year.</p></body></html>","source":"investorplace","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>3 Tech Stocks You Can Count on in This Uncertain 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\">\n3 Tech Stocks You Can Count on in This Uncertain Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-27 12:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/11/3-tech-stocks-you-can-count-on-in-this-uncertain-market/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Here are three top-quality tech stocks investors can count on in the long term.Apple(AAPL): Warren Buffett continues to buy because of its economic moat.Advanced Micro Devices(AMD): Analysts love this...</p>\n\n<a href=\"https://investorplace.com/2022/11/3-tech-stocks-you-can-count-on-in-this-uncertain-market/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","AMD":"美国超微公司","AAPL":"苹果"},"source_url":"https://investorplace.com/2022/11/3-tech-stocks-you-can-count-on-in-this-uncertain-market/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170146184","content_text":"Here are three top-quality tech stocks investors can count on in the long term.Apple(AAPL): Warren Buffett continues to buy because of its economic moat.Advanced Micro Devices(AMD): Analysts love this beaten-down tech name.Nvidia(NVDA): The bad news is already priced into downed stocks like Nvidia.2022 was a tough one for tech stocks. Most were walloped with higher interest rates, fears of aggressive rate hikes, geopolitical issues, economic concerns, and fed-up consumers. It chased even the sanest investors from the market. While it’s impossible to find a risk-free investment, some are safer than others – especially if they’re leaders in their sectors, with wide economic moats.In fact, one of the best ways to spot strong tech stocks is to follow the Warren Buffett model, which is to invest in simple companies that are easy to understand; companies with predictable and proven earnings; companies that can be bought at a reasonable price; and companies with“economic moat,”or a unique advantage over its competition. Seeing that Warren Buffett is now worth about $108.2 billion, it’s a safe bet he knows a thing or two about safe investing.Apple (AAPL)With a diversified revenue stream, and an ability to adapt to new consumer trends, Apple (NASDAQ:AAPL) will always be one of the strong tech stocks to bet on. Even Warren Buffett once said he continues to invest in Apple because of its brand, ecosystem, and strong economic moat.In addition, we have to consider that Apple is a global leader in innovation. Just look at the iPhone alone. First introduced to the public in 2007, it’s now one of the most popular mobile phones in the world, with a growing market share. Better, earnings have been solid.The company just beat expectations on revenue and profits, and it showed that global demand for its products is still high. In its fourth quarter, the company’s revenue was up 8% to $90 billion. Mac sales were up 25% to $11.5 billion in the quarter. iPhone sales were up 10% to $42.6 billion. Operating income was up by 5% to $25 billion. EPS was up 4% to $1.29, putting it above expectations for $1.27.Also, analysts, such as Deutsche Bank’s Sidney Ho, say Apple is trading at a reasonable valuation and has a buy rating with a price target of $175. Apple also carries a dividend yield of 0.66%, and it’s been aggressive with stock buybacks.Tech Stocks: Advanced Micro Devices (AMD)Advanced Micro Devices (NASDAQ: AMD) was butchered for most of the year. But that’ll happen when most of the tech stock sector is dragging just about everything lower. However, after falling from about $150 to a low of about $60, the AMD stock is showing strong signs of life. With patience, I’d like to see the AMD stock run from its current price of $75.25 to $120 in the near term.Analysts like the AMD stock, too. UBS upgraded AMD to a buy rating with a price target of $95 a share. Baird analyst Tristan Gerra also just upgraded the beaten-down tech name to outperform with a price target of $100. He believes the company’s newest Genoa chips could widen the company’s competitive moat. Credit Suisse analyst Chris Caso also initiated coverage of AMD with an outperform rating, with a price target of $90.Piper Sandler analyst Harsh Kumar is also overweight on the stock, with a price target of $90. He added that earnings appear to be bottoming and that PC inventory should start to clear out in the early part of 2023. In addition, he believes AMD is a great way to trade the server uptrend and cloud strength.Tech Stocks: Nvidia (NVDA)While Nvidia (NASDAQ:NVDA) was cut in half this year, it’s still one quality, safe name investors can count on. For one, the company makes the chips that are used to power some of the world’s most advanced technologies, including gaming, supercomputing, the cloud, artificial intelligence, machine learning, virtual reality, augmented reality, autonomous driving, etc. Again, NVDA was destroyed in 2022. But it’s still a high-quality name to count on.Better, it’s also getting a jump on the Industrial Omniverse, which is already being used by major companies, like Lowe’s (NYSE:LOW), BMW(OTCMKTS:BMWYY), Siemens(OTCMKTS:SIEGY), and Lockheed Martin (NYSE:LMT).Analysts, like Credit Suisse’s Chris Casso, say there’s been enough bad news for semiconductors to lower the risk of investing. The firm also said Nvidia was one of its top picks thanks to its strength in artificial intelligence, computing, and data centers. Better, the firm now has an outperform rating on the stock, with a $210 price target. Piper Sandler analyst Harsh Kumar also sees a near-term turnaround for Nvidia and has an overweight rating on the stock. For me, from a current price of $160.38, I’d like to see the stock run back to $195 by the first half of the New Year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968594382,"gmtCreate":1669252420846,"gmtModify":1676538173711,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hhh","listText":"Hhh","text":"Hhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968594382","repostId":"2285419168","repostType":4,"repost":{"id":"2285419168","pubTimestamp":1669249719,"share":"https://ttm.financial/m/news/2285419168?lang=&edition=fundamental","pubTime":"2022-11-24 08:28","market":"us","language":"en","title":"Can a New CEO Save Disney Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=2285419168","media":"Motley Fool","summary":"The company is raising prices and trying to slash costs.","content":"<html><head></head><body><p>In the newest chapter of <b>Walt Disney</b>&#39;s wild pandemic saga, the company announced on Sunday that former CEO Bob Iger was retaking the reins from ousted company leader Bob Chapek. Iger left his position as executive chairman just 11 months ago, but he&#39;s been called back by the board amid mounting streaming losses and a tanking stock price.</p><p>Part of the problem is an unclear direction for how to steer the company. The parks segment has been a major growth generator over the past few quarters, but underlying what looks like a strong business are multiple premium services and price hikes that aren&#39;t sustainable. At the same time, streaming is costing more and more to operate, and Disney&#39;s raising the price on that, too.</p><p>Does Disney have a pricing problem? And can Iger fix it and get the company back on track?</p><h2>Are parks really on fire?</h2><p>Yes, parks really are on fire. People are coming back and paying up. The parks and experiences segment increased its sales 36% over last year in the fourth quarter (ended Oct. 1) to $7.4 billion, and segment operating income increased more than 100% to $1.5 billion. Chapek said that parks are &#34;generating consistently strong demand, which, on many days, exceeds our current capacity.&#34;</p><p>Part of the revenue increase came from a Disney pass price increase in February. That&#39;s OK; supply and demand laws mean prices will rise when there&#39;s strong demand. With demand still strong, Disney is raising prices again in December. The increase covers several types of tickets as well as premium services like Genie+, which allows holders to skip lines. However, it can&#39;t raise prices twice every year. And after the pent-up demand from the pandemic dies down, visitors may be less inclined to pay the steep prices.</p><h2>Can streaming cut its losses?</h2><p>Investors have been focusing on the widening losses at Disney+. But let&#39;s take a look at some of the positives here. Disney added 57 million new subscriptions to all of its streaming networks in fiscal 2022 (ended Oct. 1). That&#39;s a huge number, and it indicates that Disney is dominating this field. It also illustrates how well Disney can perform in new businesses where it really shines. It has an unstoppable creative team and its position as the leading world entertainment company is, at least for the foreseeable future, effectively unbeatable.</p><p>That lends itself to almost guaranteed future performance. However, as the market has seen time and time again, even this type of growth and dominance isn&#39;t sustainable without shifting focus to the bottom line.</p><p>Disney is no start-up, and it&#39;s well aware that its priorities need some assessment. It has provided profitability guidance for Disney+ almost since inception, and it&#39;s been reassuring investors that it still intends to meet its goals of profitability by 2024. There are two paths to take: cut costs and raise prices, and the company is doing both. However, by taking this approach, it&#39;s likely to see its subscriber growth slow down.</p><p>In the meantime, the $1.5 billion operating loss from streaming effectively wiped out the same amount of operating income from parks.</p><h2>Can Iger steer Disney back to stardom?</h2><p>Disney looks like it&#39;s in a bit of a pickle. However, Iger laid the foundation for streaming before he left the CEO role in 2020 and is acutely acquainted with its inner workings. Iger served as CEO for 15 years on top of a long career at Disney, and the board sees his return as a way to put Disney on a path to getting the most out of streaming while streamlining all of its businesses to work together profitably.</p><p>There don&#39;t seem to be easy answers right now, and in this kind of economy, investors shouldn&#39;t expect a rapid turnaround.</p><p>There are two pieces of good news, however. One is that Disney is still well-positioned to maintain its leadership role in the long term, and Iger, who has signed on for a two-year stint, certainly has the capabilities to get it back to speed before handing the reins onto the next CEO. The second is that down 41% this year, Disney shares are beginning to look like more of a bargain, with a forward one-year price-to-earnings ratio of 22.</p><p>However, with the current volatility, investors may want to stay on the sidelines and watch what&#39;s happening at Disney for the time being.</p></body></html>","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>Can a New CEO Save Disney 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\">\nCan a New CEO Save Disney Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-24 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/11/23/does-disney-have-a-pricing-problem/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In the newest chapter of Walt Disney's wild pandemic saga, the company announced on Sunday that former CEO Bob Iger was retaking the reins from ousted company leader Bob Chapek. Iger left his position...</p>\n\n<a href=\"https://www.fool.com/investing/2022/11/23/does-disney-have-a-pricing-problem/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼"},"source_url":"https://www.fool.com/investing/2022/11/23/does-disney-have-a-pricing-problem/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2285419168","content_text":"In the newest chapter of Walt Disney's wild pandemic saga, the company announced on Sunday that former CEO Bob Iger was retaking the reins from ousted company leader Bob Chapek. Iger left his position as executive chairman just 11 months ago, but he's been called back by the board amid mounting streaming losses and a tanking stock price.Part of the problem is an unclear direction for how to steer the company. The parks segment has been a major growth generator over the past few quarters, but underlying what looks like a strong business are multiple premium services and price hikes that aren't sustainable. At the same time, streaming is costing more and more to operate, and Disney's raising the price on that, too.Does Disney have a pricing problem? And can Iger fix it and get the company back on track?Are parks really on fire?Yes, parks really are on fire. People are coming back and paying up. The parks and experiences segment increased its sales 36% over last year in the fourth quarter (ended Oct. 1) to $7.4 billion, and segment operating income increased more than 100% to $1.5 billion. Chapek said that parks are \"generating consistently strong demand, which, on many days, exceeds our current capacity.\"Part of the revenue increase came from a Disney pass price increase in February. That's OK; supply and demand laws mean prices will rise when there's strong demand. With demand still strong, Disney is raising prices again in December. The increase covers several types of tickets as well as premium services like Genie+, which allows holders to skip lines. However, it can't raise prices twice every year. And after the pent-up demand from the pandemic dies down, visitors may be less inclined to pay the steep prices.Can streaming cut its losses?Investors have been focusing on the widening losses at Disney+. But let's take a look at some of the positives here. Disney added 57 million new subscriptions to all of its streaming networks in fiscal 2022 (ended Oct. 1). That's a huge number, and it indicates that Disney is dominating this field. It also illustrates how well Disney can perform in new businesses where it really shines. It has an unstoppable creative team and its position as the leading world entertainment company is, at least for the foreseeable future, effectively unbeatable.That lends itself to almost guaranteed future performance. However, as the market has seen time and time again, even this type of growth and dominance isn't sustainable without shifting focus to the bottom line.Disney is no start-up, and it's well aware that its priorities need some assessment. It has provided profitability guidance for Disney+ almost since inception, and it's been reassuring investors that it still intends to meet its goals of profitability by 2024. There are two paths to take: cut costs and raise prices, and the company is doing both. However, by taking this approach, it's likely to see its subscriber growth slow down.In the meantime, the $1.5 billion operating loss from streaming effectively wiped out the same amount of operating income from parks.Can Iger steer Disney back to stardom?Disney looks like it's in a bit of a pickle. However, Iger laid the foundation for streaming before he left the CEO role in 2020 and is acutely acquainted with its inner workings. Iger served as CEO for 15 years on top of a long career at Disney, and the board sees his return as a way to put Disney on a path to getting the most out of streaming while streamlining all of its businesses to work together profitably.There don't seem to be easy answers right now, and in this kind of economy, investors shouldn't expect a rapid turnaround.There are two pieces of good news, however. One is that Disney is still well-positioned to maintain its leadership role in the long term, and Iger, who has signed on for a two-year stint, certainly has the capabilities to get it back to speed before handing the reins onto the next CEO. The second is that down 41% this year, Disney shares are beginning to look like more of a bargain, with a forward one-year price-to-earnings ratio of 22.However, with the current volatility, investors may want to stay on the sidelines and watch what's happening at Disney for the time being.","news_type":1},"isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9069239083,"gmtCreate":1651288859337,"gmtModify":1676534885700,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"What is your fav stocks now to buy man, I think Apple, Microsoft are goood stock to buy as of today and maybe a few days later too. What are your thoughts of Amazon and Google stocks and which stock should I dollar cost average into as of now in a highly volatile and unpredictable environment that I find it hard to act","listText":"What is your fav stocks now to buy man, I think Apple, Microsoft are goood stock to buy as of today and maybe a few days later too. What are your thoughts of Amazon and Google stocks and which stock should I dollar cost average into as of now in a highly volatile and unpredictable environment that I find it hard to act","text":"What is your fav stocks now to buy man, I think Apple, Microsoft are goood stock to buy as of today and maybe a few days later too. What are your thoughts of Amazon and Google stocks and which stock should I dollar cost average into as of now in a highly volatile and unpredictable environment that I find it hard to act","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":39,"commentSize":0,"repostSize":5,"link":"https://ttm.financial/post/9069239083","isVote":1,"tweetType":1,"viewCount":965,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9028730928,"gmtCreate":1653274325564,"gmtModify":1676535252202,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"//<a href=\"https://ttm.financial/U/3583016139705080\">@Newnew</a>:Hi//<a href=\"https://ttm.financial/U/3561596430587504\">@robot1234</a>:The global business elite will gather in the mountains of Davos, Switzerland this week amid a backdrop of turbulent markets and an uncertain economic outlook. For the first time in over two years, CEOs, politicians, and billionaires are set to congregate at the World Economic Forum following a pandemic-induced hiatus. Russia’s war in Ukraine, the COVID-19 pandemic, and worries of economic gloom will be among the key topics discussed, as the world's top leaders face the most uncertain outlook for global cooperation in years. A top-of-mind issue for many Davos attendees will no doubt be recent turbulence in financial markets, as the S&amp;P 500 just completed","listText":"//<a href=\"https://ttm.financial/U/3583016139705080\">@Newnew</a>:Hi//<a href=\"https://ttm.financial/U/3561596430587504\">@robot1234</a>:The global business elite will gather in the mountains of Davos, Switzerland this week amid a backdrop of turbulent markets and an uncertain economic outlook. For the first time in over two years, CEOs, politicians, and billionaires are set to congregate at the World Economic Forum following a pandemic-induced hiatus. Russia’s war in Ukraine, the COVID-19 pandemic, and worries of economic gloom will be among the key topics discussed, as the world's top leaders face the most uncertain outlook for global cooperation in years. A top-of-mind issue for many Davos attendees will no doubt be recent turbulence in financial markets, as the S&amp;P 500 just completed","text":"//@Newnew:Hi//@robot1234:The global business elite will gather in the mountains of Davos, Switzerland this week amid a backdrop of turbulent markets and an uncertain economic outlook. For the first time in over two years, CEOs, politicians, and billionaires are set to congregate at the World Economic Forum following a pandemic-induced hiatus. Russia’s war in Ukraine, the COVID-19 pandemic, and worries of economic gloom will be among the key topics discussed, as the world's top leaders face the most uncertain outlook for global cooperation in years. A top-of-mind issue for many Davos attendees will no doubt be recent turbulence in financial markets, as the S&P 500 just completed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9028730928","repostId":"2237880958","repostType":4,"repost":{"id":"2237880958","pubTimestamp":1653179341,"share":"https://ttm.financial/m/news/2237880958?lang=&edition=fundamental","pubTime":"2022-05-22 08:29","market":"us","language":"en","title":"Buy the Dip Or Sell the \"Rip\"?: What's Ahead for Stock Investors As \"Sticky\" Inflation Fears Heighten Consumer Concern","url":"https://stock-news.laohu8.com/highlight/detail?id=2237880958","media":"MarketWatch","summary":"Stock-market bottoms tend to form after a 'panic selloff,' says Tastytrade's chief market strategist","content":"<html><head></head><body><p>Stock-market bottoms tend to form after a &#39;panic selloff,&#39; says Tastytrade&#39;s chief market strategist</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/31b4e6009914f20c21b505fb59a49907\" tg-width=\"700\" tg-height=\"487\" referrerpolicy=\"no-referrer\"/><span>The stock market has been rocky amid rising recession risks and high inflation.</span></p><p>Investors, already grappling with a sinking stock market and fears that the U.S. economy may be heading for a recession, now turn their focus to the consumer. For one thing, consumer discretionary stocks are among the hardest hit.</p><p>The market&#39;s fixation on peak inflation and how many times the Federal Reserve could hike interest rates is giving way to recession fears, according to Paul Christopher, head of global market strategy at Wells Fargo Investment Institute.</p><p>That shift was seen over the past week, as stocks sank amid investor worries over consumer spending trends, said Christopher, in a phone interview.</p><p>&#34;The market is finally starting to price in realistically a recession,&#34; he said.</p><p>For now, the mood of consumers has proven as hard to pin down as market entries and exits.</p><p>The slump has been &#34;very difficult to sit through,&#34; said JJ Kinahan, chief market strategist for online brokerage firm Tastytrade Inc., in a phone interview. &#34;It&#39;s like going in and boxing day after day, getting your butt kicked, but you haven&#39;t been knocked out yet. So you have to go back in and box again.&#34;</p><p>Stocks have not yet seen a &#34;big low,&#34; and because the market is vulnerable to a bear-market rally, sell any &#34;rips,&#34; advised investment strategists at BofA Global Research, in a May 19 note.</p><p>On Friday, the S&amp;P 500 index  traded into bear-market territory yet avoided closing there as it eked out a gain in a mixed close for U.S. stocks. Still, the S&amp;P 500 and other major benchmarks suffered another week of losses, with the Dow Jones Industrial Average   booking an eighth straight weekly decline for its longest losing streak since April 1932.</p><p>In a May 18 note, Wells Fargo Investment Institute said it was adjusting its equities guidance and price targets for a &#34;likely&#34; recession, upgrading the utilities sector to &#34;neutral&#34; from &#34;most unfavorable.&#34; Utilities are considered defensive, unlike the consumer-discretionary sector, which Wells Fargo downgraded to &#34;unfavorable&#34; from &#34;neutral,&#34; according to the note.</p><p>Consumer discretionary  was the worst performing sector of the S&amp;P 500 index Friday, closing lower and booking a seventh straight week of declines for its longest losing streak since July 1996, according to Dow Jones Market Data.</p><p>Here are Wells Fargo&#39;s equity sector preferences, as seen in its May 18 report.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4406b38e7adcad9f5a1185e010e66277\" tg-width=\"700\" tg-height=\"392\" referrerpolicy=\"no-referrer\"/><span>WELLS FARGO INVESTMENT INSTITUTE</span></p><p><b>&#39;Sticky&#39; inflation</b></p><p>&#34;Inflation is hitting purchasing power,&#34; said Christopher. &#34;It&#39;s so sticky,&#34; he said, &#34;that it&#39;s going to be with us for a while, even after the Fed raises rates.&#34;</p><p>Profit misses in earnings results reported by Walmart Inc. and Target Corp. this past week sparked investor concern that high inflation is crimping consumer spending, while eating into companies&#39; profit margins. Shares of Walmart plunged more than 19% in the past week and Target plummeted around 29%.</p><p>&#34;Unfortunately, gasoline prices bounced back up to another record high in May and with inflation rampant across most categories, people are spending more money on fewer items,&#34; said Beth Ann Bovino, U.S. chief economist for S&amp;P Global Ratings, in emailed comments on May 17.</p><p>When S&amp;P adjusted U.S. retail sales in April for inflation, &#34;a frightening split has appeared over the last year, and has only gotten wider through April,&#34; said Bovino.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e3917ed259a01a2169979d1fc3080fd\" tg-width=\"700\" tg-height=\"535\" referrerpolicy=\"no-referrer\"/><span>S&amp;P GLOBAL</span></p><p>&#34;Purchasing power has been squeezed, particularly for low-income households,&#34; she said. &#34;While savings stored up during the pandemic has given households a cushion to absorb these higher prices, eventually these buffers run thin.&#34;</p><p>Although the labor market remains strong, new U.S. jobless claims during the week ending May 14 climbed to a four-month high. Christopher said that Wells Fargo Investment Institute believes &#34;a mild recession&#34; may begin late this year.</p><p>They&#39;re not alone.</p><p>&#34;We continue to expect that the financial conditions tightening triggered by Fed policy will likely lead to a recession by end 2023,&#34; wrote Deutsche Bank analysts led by chief U.S. economist Matthew Luzzetti, in a research note dated May 20. &#34;Over the past several weeks, U.S. financial conditions have tightened sharply.&#34;</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82d0727a73fde6613cb96bc10431a7d1\" tg-width=\"700\" tg-height=\"454\" referrerpolicy=\"no-referrer\"/><span>WELLS FARGO INVESTMENT INSTITUTE</span></p><p>This coming week, investors will get fresh economic data on inflation, consumer spending and disposable income. The U.S. economic calendar also includes readings on consumer sentiment, U.S. manufacturing and services, initial jobless claims, and minutes from the Federal Open Market Committee&#39;s last policy meeting.</p><p><b>Jittery investors</b></p><p>While investors are jittery, stock-market bottoms tend to form after a &#34;panic selloff,&#34; and the recent slump so far has been &#34;orderly,&#34; according to Tastytrade&#39;s Kinahan.</p><p>The S&amp;P 500 has dropped about 18% this year through Friday, while the Dow has fallen 14% and the technology-heavy Nasdaq Composite has tumbled around 27%, according to FactSet.</p><p>Through the lens of bullish investors, bear markets entail &#34;feral, fearful, dystopian price action,&#34; the BofA investment strategists wrote in their note. &#34;The tape shows big damage already,&#34; with &#34;inflation shock&#34; largely priced in along with &#34;rates shock.&#34;</p><p>Once &#34;recession shock&#34; is discounted, &#34;lows will be set,&#34; the strategists wrote, citing a bullish perspective.</p><p>Both Kinahan and Wells Fargo&#39;s Christopher cautioned against trying to time the market, with Kinahan describing any attempt to pick a bottom as a &#34;fool&#39;s errand.&#34;</p><p>Christopher said investors might consider putting small amounts of cash to work over time as the market falls to new lows, and buying quality stocks to minimize losses. &#34;If you&#39;re a longer-term investor, you don&#39;t want to pull money out of the market,&#34; he said.</p><p>With recession risks rising, Wells Fargo Investment Institute has cut its year-end target price range for the S&amp;P 500 to 4,200-4,400 from 4,500-4,700, its report shows. That&#39;s above the index&#39;s close Friday at 3,901.</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy the Dip Or Sell the \"Rip\"?: What's Ahead for Stock Investors As \"Sticky\" Inflation Fears Heighten Consumer Concern</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\">\nBuy the Dip Or Sell the \"Rip\"?: What's Ahead for Stock Investors As \"Sticky\" Inflation Fears Heighten Consumer Concern\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-22 08:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/buy-the-dip-or-sell-the-rip-whats-ahead-for-stock-investors-as-sticky-inflation-fears-heighten-consumer-concern-11653138573?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock-market bottoms tend to form after a 'panic selloff,' says Tastytrade's chief market strategistThe stock market has been rocky amid rising recession risks and high inflation.Investors, already ...</p>\n\n<a href=\"https://www.marketwatch.com/story/buy-the-dip-or-sell-the-rip-whats-ahead-for-stock-investors-as-sticky-inflation-fears-heighten-consumer-concern-11653138573?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TGT":"塔吉特",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","WMT":"沃尔玛",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/buy-the-dip-or-sell-the-rip-whats-ahead-for-stock-investors-as-sticky-inflation-fears-heighten-consumer-concern-11653138573?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2237880958","content_text":"Stock-market bottoms tend to form after a 'panic selloff,' says Tastytrade's chief market strategistThe stock market has been rocky amid rising recession risks and high inflation.Investors, already grappling with a sinking stock market and fears that the U.S. economy may be heading for a recession, now turn their focus to the consumer. For one thing, consumer discretionary stocks are among the hardest hit.The market's fixation on peak inflation and how many times the Federal Reserve could hike interest rates is giving way to recession fears, according to Paul Christopher, head of global market strategy at Wells Fargo Investment Institute.That shift was seen over the past week, as stocks sank amid investor worries over consumer spending trends, said Christopher, in a phone interview.\"The market is finally starting to price in realistically a recession,\" he said.For now, the mood of consumers has proven as hard to pin down as market entries and exits.The slump has been \"very difficult to sit through,\" said JJ Kinahan, chief market strategist for online brokerage firm Tastytrade Inc., in a phone interview. \"It's like going in and boxing day after day, getting your butt kicked, but you haven't been knocked out yet. So you have to go back in and box again.\"Stocks have not yet seen a \"big low,\" and because the market is vulnerable to a bear-market rally, sell any \"rips,\" advised investment strategists at BofA Global Research, in a May 19 note.On Friday, the S&P 500 index  traded into bear-market territory yet avoided closing there as it eked out a gain in a mixed close for U.S. stocks. Still, the S&P 500 and other major benchmarks suffered another week of losses, with the Dow Jones Industrial Average   booking an eighth straight weekly decline for its longest losing streak since April 1932.In a May 18 note, Wells Fargo Investment Institute said it was adjusting its equities guidance and price targets for a \"likely\" recession, upgrading the utilities sector to \"neutral\" from \"most unfavorable.\" Utilities are considered defensive, unlike the consumer-discretionary sector, which Wells Fargo downgraded to \"unfavorable\" from \"neutral,\" according to the note.Consumer discretionary  was the worst performing sector of the S&P 500 index Friday, closing lower and booking a seventh straight week of declines for its longest losing streak since July 1996, according to Dow Jones Market Data.Here are Wells Fargo's equity sector preferences, as seen in its May 18 report.WELLS FARGO INVESTMENT INSTITUTE'Sticky' inflation\"Inflation is hitting purchasing power,\" said Christopher. \"It's so sticky,\" he said, \"that it's going to be with us for a while, even after the Fed raises rates.\"Profit misses in earnings results reported by Walmart Inc. and Target Corp. this past week sparked investor concern that high inflation is crimping consumer spending, while eating into companies' profit margins. Shares of Walmart plunged more than 19% in the past week and Target plummeted around 29%.\"Unfortunately, gasoline prices bounced back up to another record high in May and with inflation rampant across most categories, people are spending more money on fewer items,\" said Beth Ann Bovino, U.S. chief economist for S&P Global Ratings, in emailed comments on May 17.When S&P adjusted U.S. retail sales in April for inflation, \"a frightening split has appeared over the last year, and has only gotten wider through April,\" said Bovino.S&P GLOBAL\"Purchasing power has been squeezed, particularly for low-income households,\" she said. \"While savings stored up during the pandemic has given households a cushion to absorb these higher prices, eventually these buffers run thin.\"Although the labor market remains strong, new U.S. jobless claims during the week ending May 14 climbed to a four-month high. Christopher said that Wells Fargo Investment Institute believes \"a mild recession\" may begin late this year.They're not alone.\"We continue to expect that the financial conditions tightening triggered by Fed policy will likely lead to a recession by end 2023,\" wrote Deutsche Bank analysts led by chief U.S. economist Matthew Luzzetti, in a research note dated May 20. \"Over the past several weeks, U.S. financial conditions have tightened sharply.\"WELLS FARGO INVESTMENT INSTITUTEThis coming week, investors will get fresh economic data on inflation, consumer spending and disposable income. The U.S. economic calendar also includes readings on consumer sentiment, U.S. manufacturing and services, initial jobless claims, and minutes from the Federal Open Market Committee's last policy meeting.Jittery investorsWhile investors are jittery, stock-market bottoms tend to form after a \"panic selloff,\" and the recent slump so far has been \"orderly,\" according to Tastytrade's Kinahan.The S&P 500 has dropped about 18% this year through Friday, while the Dow has fallen 14% and the technology-heavy Nasdaq Composite has tumbled around 27%, according to FactSet.Through the lens of bullish investors, bear markets entail \"feral, fearful, dystopian price action,\" the BofA investment strategists wrote in their note. \"The tape shows big damage already,\" with \"inflation shock\" largely priced in along with \"rates shock.\"Once \"recession shock\" is discounted, \"lows will be set,\" the strategists wrote, citing a bullish perspective.Both Kinahan and Wells Fargo's Christopher cautioned against trying to time the market, with Kinahan describing any attempt to pick a bottom as a \"fool's errand.\"Christopher said investors might consider putting small amounts of cash to work over time as the market falls to new lows, and buying quality stocks to minimize losses. \"If you're a longer-term investor, you don't want to pull money out of the market,\" he said.With recession risks rising, Wells Fargo Investment Institute has cut its year-end target price range for the S&P 500 to 4,200-4,400 from 4,500-4,700, its report shows. That's above the index's close Friday at 3,901.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926791053,"gmtCreate":1671628032272,"gmtModify":1676538565797,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"J","listText":"J","text":"J","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9926791053","repostId":"2292433763","repostType":4,"repost":{"id":"2292433763","pubTimestamp":1671610356,"share":"https://ttm.financial/m/news/2292433763?lang=&edition=fundamental","pubTime":"2022-12-21 16:12","market":"us","language":"en","title":"2 Growth Stocks That Could Help Make You a Fortune","url":"https://stock-news.laohu8.com/highlight/detail?id=2292433763","media":"Motley Fool","summary":"These companies are booking wins even in the current environment.","content":"<html><head></head><body><p>Most investors won&#39;t get rich in the stock market overnight. The good news is, as a long-term investor, you don&#39;t need to implement complicated strategies or investing games to build a portfolio that stands the test of time.</p><p>By letting a pattern of regularly buying and adding to wonderful companies become your habit in both bear and bull environments, you participate in both the peaks and valleys of market cycles without undermining your long-term investing strategy.</p><p>On that note, let&#39;s take a look at two fantastic buy-and-hold growth stocks that can enrich your portfolio returns many times over in the years to come.</p><h2><b>1. Airbnb</b></h2><p>The travel industry has dealt with its fair share of hurdles over the last few years, and it could be in for more challenges ahead, particularly if the macro environment officially veers into a recession. <b>Airbnb</b> has managed to buck many of the trends impacting the broader travel industry. Despite the fact shares are still down roughly 45% over the past 12 months, this sell-off traces its roots back to broad investor sentiment around growth stocks rather than specific issues with the company itself.</p><p>If anything, Airbnb&#39;s recovery has left most of the wider travel industry in the dust. As many growth businesses are struggling to retain headway in the current environment, the company continues to report quarter after quarter of strong growth. Even if this was to slow down in the near term in the event of a recession, Airbnb has built a solid foundation upon which it can launch itself into future, sustained business returns.</p><p>While global travel spending is slowing as consumers fear more economic pitfalls ahead, a huge catalyst behind Airbnb&#39;s continued expansion is tied to the fact the platform caters to a wide variety of consumers and travelers. Certainly, people use Airbnb to book short-term or vacation rentals, but more and more customers are turning to the platform to locate homes they can stay in for a much longer duration. In fact, approximately one-fifth of all gross bookings processed on Airbnb&#39;s platform are derived from long-term stays, which are bookings of 28 days or longer.</p><p>Airbnb&#39;s revenue jumped 29% year over year to $2.9 billion in the most recent quarter, while its net income rose 46% from the year-ago period to $1.2 billion. The third quarter was its most profitable to date. The company has proven time and again its platform remains well positioned to grow.</p><p>From business travelers and tourists to digital nomads, Airbnb&#39;s platform has something for everyone. It&#39;s this versatility, not to mention the vital stream of income that Airbnb provides to its more than four million hosts globally, that can fuel the consistent demand the company needs to grow in the near term and for many years to come.</p><h2><b>2. Shopify </b></h2><p><b>Shopify</b> isn&#39;t the the investor favorite that it was in the earlier days of the pandemic, but overlooking the stock due to its near-term challenges could be a mistake in the long run. Shares of Shopify are trading down by about 74% from the beginning of this year, and this has occurred for a few different reasons.</p><p>Investors have understandably been concerned about the company&#39;s turn into GAAP unprofitability in recent quarters. And as investors shy away from growth-oriented businesses with less capital flowing into the markets and macroeconomic conditions presenting elevated risk, this has also put severe downward pressure on the stock.</p><p>As always, it&#39;s important to look at the reason behind a stock&#39;s movements before you determine whether or not it&#39;s a wise addition to your portfolio. As for Shopify&#39;s recent losses, this goes back broadly to its continual pattern of aggressively investing in its business growth and the heavy use of stock-based compensation. In the first nine months of 2022 alone, Shopify spent $932 million on sales and marketing, compared to $626 million in the same period last year.</p><p>It&#39;s also worth noting that Shopify&#39;s results have been affected by its portfolio of equity investments. The company has large stakes in heavily beaten-down tech stocks <b>Affirm</b> and <b>Global-e Online</b>, both of which it also has long-standing partnerships with. And just like individual investors have seen many equity investments decline over the last year, the same can be said of Shopify. Still, the company is making progress on a multitude of fronts. Shopify&#39;s addition of Deliverr to its fulfillment network earlier this year is key to enable its long-term growth, retain and expand its merchant network, and reduce exposure to the impact of future supply chain disruptions.</p><p>The platform remains a go-to for business owners around the world to do everything from launch a brand from scratch to seamlessly integrate an online store with a brick-and-mortar presence. In the first nine months of 2022, Shopify&#39;s top line jumped 20% year over year to $3.9 billion. Meanwhile, Shopify had $4.9 billion in cash and investments on its balance sheet at the end of the period.</p><p>While Shopify&#39;s spending to build out its business will weigh on its bottom line in the near term, this can also position it for continued growth and enable it to retain its competitiveness over the long term. This ultimately bodes well for investors who take a buy-and-hold approach to the stock.</p></body></html>","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>2 Growth Stocks That Could Help Make You a Fortune</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\">\n2 Growth Stocks That Could Help Make You a Fortune\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-21 16:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/12/20/2-growth-stocks-that-could-help-make-you-a-fortune/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Most investors won't get rich in the stock market overnight. The good news is, as a long-term investor, you don't need to implement complicated strategies or investing games to build a portfolio that ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/20/2-growth-stocks-that-could-help-make-you-a-fortune/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SHOP":"Shopify Inc","BK4535":"淡马锡持仓","BK4142":"酒店、度假村与豪华游轮","BK4561":"索罗斯持仓","BK4505":"高瓴资本持仓","BK4116":"互联网服务与基础架构","BK4528":"SaaS概念","BK4532":"文艺复兴科技持仓","BK4566":"资本集团","BK4548":"巴美列捷福持仓","ABNB":"爱彼迎","BK4551":"寇图资本持仓","BK4524":"宅经济概念"},"source_url":"https://www.fool.com/investing/2022/12/20/2-growth-stocks-that-could-help-make-you-a-fortune/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2292433763","content_text":"Most investors won't get rich in the stock market overnight. The good news is, as a long-term investor, you don't need to implement complicated strategies or investing games to build a portfolio that stands the test of time.By letting a pattern of regularly buying and adding to wonderful companies become your habit in both bear and bull environments, you participate in both the peaks and valleys of market cycles without undermining your long-term investing strategy.On that note, let's take a look at two fantastic buy-and-hold growth stocks that can enrich your portfolio returns many times over in the years to come.1. AirbnbThe travel industry has dealt with its fair share of hurdles over the last few years, and it could be in for more challenges ahead, particularly if the macro environment officially veers into a recession. Airbnb has managed to buck many of the trends impacting the broader travel industry. Despite the fact shares are still down roughly 45% over the past 12 months, this sell-off traces its roots back to broad investor sentiment around growth stocks rather than specific issues with the company itself.If anything, Airbnb's recovery has left most of the wider travel industry in the dust. As many growth businesses are struggling to retain headway in the current environment, the company continues to report quarter after quarter of strong growth. Even if this was to slow down in the near term in the event of a recession, Airbnb has built a solid foundation upon which it can launch itself into future, sustained business returns.While global travel spending is slowing as consumers fear more economic pitfalls ahead, a huge catalyst behind Airbnb's continued expansion is tied to the fact the platform caters to a wide variety of consumers and travelers. Certainly, people use Airbnb to book short-term or vacation rentals, but more and more customers are turning to the platform to locate homes they can stay in for a much longer duration. In fact, approximately one-fifth of all gross bookings processed on Airbnb's platform are derived from long-term stays, which are bookings of 28 days or longer.Airbnb's revenue jumped 29% year over year to $2.9 billion in the most recent quarter, while its net income rose 46% from the year-ago period to $1.2 billion. The third quarter was its most profitable to date. The company has proven time and again its platform remains well positioned to grow.From business travelers and tourists to digital nomads, Airbnb's platform has something for everyone. It's this versatility, not to mention the vital stream of income that Airbnb provides to its more than four million hosts globally, that can fuel the consistent demand the company needs to grow in the near term and for many years to come.2. Shopify Shopify isn't the the investor favorite that it was in the earlier days of the pandemic, but overlooking the stock due to its near-term challenges could be a mistake in the long run. Shares of Shopify are trading down by about 74% from the beginning of this year, and this has occurred for a few different reasons.Investors have understandably been concerned about the company's turn into GAAP unprofitability in recent quarters. And as investors shy away from growth-oriented businesses with less capital flowing into the markets and macroeconomic conditions presenting elevated risk, this has also put severe downward pressure on the stock.As always, it's important to look at the reason behind a stock's movements before you determine whether or not it's a wise addition to your portfolio. As for Shopify's recent losses, this goes back broadly to its continual pattern of aggressively investing in its business growth and the heavy use of stock-based compensation. In the first nine months of 2022 alone, Shopify spent $932 million on sales and marketing, compared to $626 million in the same period last year.It's also worth noting that Shopify's results have been affected by its portfolio of equity investments. The company has large stakes in heavily beaten-down tech stocks Affirm and Global-e Online, both of which it also has long-standing partnerships with. And just like individual investors have seen many equity investments decline over the last year, the same can be said of Shopify. Still, the company is making progress on a multitude of fronts. Shopify's addition of Deliverr to its fulfillment network earlier this year is key to enable its long-term growth, retain and expand its merchant network, and reduce exposure to the impact of future supply chain disruptions.The platform remains a go-to for business owners around the world to do everything from launch a brand from scratch to seamlessly integrate an online store with a brick-and-mortar presence. In the first nine months of 2022, Shopify's top line jumped 20% year over year to $3.9 billion. Meanwhile, Shopify had $4.9 billion in cash and investments on its balance sheet at the end of the period.While Shopify's spending to build out its business will weigh on its bottom line in the near term, this can also position it for continued growth and enable it to retain its competitiveness over the long term. This ultimately bodes well for investors who take a buy-and-hold approach to the stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966793066,"gmtCreate":1669636867356,"gmtModify":1676538216693,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9966793066","repostId":"1122831001","repostType":4,"repost":{"id":"1122831001","pubTimestamp":1669650374,"share":"https://ttm.financial/m/news/1122831001?lang=&edition=fundamental","pubTime":"2022-11-28 23:46","market":"us","language":"en","title":"It's A Long Road For Palantir","url":"https://stock-news.laohu8.com/highlight/detail?id=1122831001","media":"Seeking Alpha","summary":"SummaryPLTR stock is phenomenal for trading.The mounting pressure on growth is leading to reduced an","content":"<html><head></head><body><p>Summary</p><ul><li>PLTR stock is phenomenal for trading.</li><li>The mounting pressure on growth is leading to reduced and yet still stretched valuation.</li><li>While higher level key metrics need to hold up, and what 2023 will bring is still up in the air, margins are the focus.</li><li>Trading this stock is simply easier than the long road of holding forever, but we do think long-term potential is real.</li></ul><p>One stock that we believe is a paradise for traders is Palantir Technologies Inc. (NYSE:PLTR). For investors, it has been a total disaster and it is frustrating to see the lack of any kind of real rebound out of the single-digits. We continue to believe in the company long-term, but the company is not necessarily the stock.</p><p>The fact is that it is going to be a long road to real profits. That is why the market hates this stock. Further, the other key metric lines of interest like customer counts, revenues, etc., all seem to be slowing their rate of growth. This was a rapid grower just a year ago. But the world has quickly changed, and all things innovative that do not make a profit have been crushed. Folks, while all manner of financial engineering to show improved &#39;cash flow&#39;, and moderate EBITDA movement, the market does not care anymore. It wants to see a clear path to profitability. While the company has worked, or is starting to work, to rein in spending and to reduce the very dilutive stock-based compensation, the Street is assigning little faith.</p><p>Right now, even though we have outlined a possible Santa Claus rally into year end, we think that stocks like this are going to contend with heavy tax loss selling. The market as a whole has seen most who wanted to sell already sell, but for a trading stock like this, it creates further negative catalysts. If you are an investor, it is hard to not buy at $6-$7 per share. But $7 per share now is more expensive than $7 per share was just months ago, when you account for more shares, and normalization of growth. That is the problem. We continue to like trading swings on the stock long and short. As investors go, it is going to be a long road.</p><h3>The path is difficult, but not impossible</h3><p>Despite what has happened, we continue to like the company long-term, but Palantir stock is just not working right now. On top of the continued dilution, and now the pressure of tax loss harvesting, the company is also facing slowing commercial demand, and governments that will likely reduce spending due to lower tax revenues. Much of the world is already facing or in some cases may be in a recession. The United States has been resilient, but we suspect we see inflation coming down, and the deleterious impacts of increased pressure on consumers and businesses in this more challenging economic climate. With this reality the high level of growth seems to be grinding to a halt, and could stall further in 2023. Potential game-changing names like this that do not make real profit have all been obliterated.</p><p>A lot of traders do not realize (or do not care) that Palantir is not a new company. It has been around a long time, but became public in the height of the tech stock mania as we were coming out of COVID. The thing is that stocks like Palantir are indeed often extremely expensive in the early stages. The innovation space is unique. For a long time, the Street could not value them on an earnings basis because there are no or very little earnings. The Street looked to the future based on sales, cash flows, etc. One of the largest reasons stocks like this have been crushed, besides a &#39;tough market&#39; is interest rates. Few have been spared. The concern is that with rates rising, money-losing stocks are out of favor. Debt becomes more expensive, and many companies will suffer. And yet, Palantir has one key advantage. It is still a money loser, though getting there toward sustained breakeven operations, but it has an incredible balance-sheet position.</p><h3>No debt</h3><p>For years, Palantir may lose money or hover around breakeven. $7 is a level where we like this name, with all issues baked in. It is speculative, but we like it. Operationally, we are seeing some positive signs, and some negative signs. The company is not bleeding out and losing money hand over first. In fact, Given that there is no debt at all and a ton of cash on hand ($2.4 billion), Palantir is in strong shape to weather any recessionary pressures in 2023. It should not need to borrow any money, so in many ways, the high rate issue, for now, is somewhat moot. Though if their customers rely on debt to fund contracts, then it becomes a bit of a hidden risk. However, the balance sheet is a strength. The weakness is slowing growth.</p><h3>Slowing growth</h3><p>One thing that has investors concerned is the slowing growth. The company had been growing like a spreading wildfire. It is still in growth mode, but the pace has stalled. In the recently reported quarter, performance was strong on the top line and actually was ahead of consensus estimates. Total revenue grew 22% year-over-year to $478 million, beating estimates by almost $3 million. That is strong. But those costs continue to weigh, and the cumulative impact of dilution is anchoring earnings potential. This is evidenced by Palantir&#39;s profitability being lower than expected by $0.01 per share, and worse, guidance was less than consensus.</p><p>Both of Palantir&#39;s segments, the government and commercial segments, had shown incredible growth over the years. The commercial revenue stream specifically has been growing rapidly, while government results have been slowing for several quarters now. Deceleration of revenue growth is definitely a negative for a company without earnings. That said, U.S. growth is still strong. U.S. revenue rose 31% from last year, and the company grew overall customers by 66% year-over-year. Internationally the story is weaker, and likely reflects the resilience of the U.S. economy still despite global weakness.</p><p>Government revenue was still up 20% from a year ago, while U.S. commercial revenue grew 53%. Look this is certainly strong growth. The Street is fickle however, as despite it being strong reported growth, the pace has stalled. But there are positives that we feel are masked to some degree, such as in margins. Gross margin was 77%, very strong, though operating margin a bit lower. Adjusted income from operations, excluding stock-based compensation and related employer payroll taxes was $81 million, representing an adjusted operating margin of 17%. The target is really around 20%. The company lost $62 million in the quarter operationally otherwise. Now, the company likes to boast its cash flow but it does back out a number of key metrics that while as reported they are burning more cash than may be thought, on their adjusted basis, free cash flow was $37 million for the quarter, and the 8th-straight quarter for which this was positive on the adjusted metrics. The company earned $0.01 per share, showing it is teetering around breakeven.</p><h3>Valuation</h3><p>On the valuation front, Palantir stock is still expensive, even though shares have been crushed.</p><p><img src=\"https://static.tigerbbs.com/964639e96ef3383446822e45d937a223\" tg-width=\"640\" tg-height=\"904\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha PLTR Valuation Grade</p><p>Looking at traditional price-to-earnings is foolish, showing a very pricey at 161X. Ultimately, this is what the Street will care about. For now it gets many quarters to show its potential. The Street has doubts, hence a $7 per share price tag. Perhaps the more appropriate measure is the price-to-sales ratio, but not only is this still very high, the market has basically said it is no longer willing to pay for sky high multiples. Keep that in mind. At 8X sales, the valuation has improved dramatically from where it was last year, but this is still high. The price-to-book has been improving and we are watching this as well as EV/EBIT values. Some of this stretched valuation can be justified by the still strong growth metrics.</p><p><img src=\"https://static.tigerbbs.com/1ce1cbeed3f6c3c8d0a34c1fa114d009\" tg-width=\"640\" tg-height=\"923\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha PLTR Growth Metrics</p><p>So these are still solid grades though down from the past A+ values. The performance is coming down, and that reduction, that slower growth (even though it is still strong), builds in further discounts. Rapid growth has to lead somewhere. That is the mantra.</p><p>It is a long road from translating the growth metrics into tangible value, and shareholder returns. This is why the stock is stuck in the mud in the single-digits.</p><h3>Looking ahead</h3><p>So as we have been trying to hammer home, the growth concerns are real. The thing is that the Q4 guidance was pretty weak relative to expectations, despite slightly increasing the full-year outlook. For Q4, management guided to a base case of $503-505 million in revenue. This was below consensus of $506 million, but they upped their adjusted income from operations for the year by about 10% to $385 million.</p><p>Longer-term, the next few years, we think the company can still deliver 30% annual revenue growth. This will depend on how steep of a recession we get and how companies and governments value Palantir&#39;s AI decision making services. It remains to be seen but we would like to see more work done on margins to boost cash flow and to get to real earnings. Like it or not, this is what the Street wants to see. Margins need to improve and growth must remain to offset stock-based compensation. This is still a problem, and a problem for many similar companies. While Palantir&#39;s technology should help governments and businesses alike operate more efficiently, and therefore more profitably, we could see reduced spending on services like this as recession risks are mounting.</p><h3>Final thoughts</h3><p>The growth rate is slowing some, but the growth is strong. Palantir&#39;s valuation is still expensive, but we think the key indicator will be margins. Better margins drive earnings potential. As we head into year end, expect added pressure from tax loss harvesting. We still like trading the stock for when it runs with a hot market on good days, but for now, we think it will be difficult for the stock to advance much past $9-$10 without real movement on its performance on earnings potential. At the same time, should top line growth or customer count trends weaken further, the stock could see another wave lower. All things considered, it&#39;s still a buy at $7, but we think you should have a short-term view for gains. Take quick gains and move them elsewhere to core holdings. Sure, it is fine to own this long-term, we think it has potential, but it is a long road. It is a trading stock.</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>It's A Long Road For Palantir</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\">\nIt's A Long Road For Palantir\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-28 23:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4560760-its-long-road-for-palantir><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryPLTR stock is phenomenal for trading.The mounting pressure on growth is leading to reduced and yet still stretched valuation.While higher level key metrics need to hold up, and what 2023 will ...</p>\n\n<a href=\"https://seekingalpha.com/article/4560760-its-long-road-for-palantir\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4560760-its-long-road-for-palantir","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122831001","content_text":"SummaryPLTR stock is phenomenal for trading.The mounting pressure on growth is leading to reduced and yet still stretched valuation.While higher level key metrics need to hold up, and what 2023 will bring is still up in the air, margins are the focus.Trading this stock is simply easier than the long road of holding forever, but we do think long-term potential is real.One stock that we believe is a paradise for traders is Palantir Technologies Inc. (NYSE:PLTR). For investors, it has been a total disaster and it is frustrating to see the lack of any kind of real rebound out of the single-digits. We continue to believe in the company long-term, but the company is not necessarily the stock.The fact is that it is going to be a long road to real profits. That is why the market hates this stock. Further, the other key metric lines of interest like customer counts, revenues, etc., all seem to be slowing their rate of growth. This was a rapid grower just a year ago. But the world has quickly changed, and all things innovative that do not make a profit have been crushed. Folks, while all manner of financial engineering to show improved 'cash flow', and moderate EBITDA movement, the market does not care anymore. It wants to see a clear path to profitability. While the company has worked, or is starting to work, to rein in spending and to reduce the very dilutive stock-based compensation, the Street is assigning little faith.Right now, even though we have outlined a possible Santa Claus rally into year end, we think that stocks like this are going to contend with heavy tax loss selling. The market as a whole has seen most who wanted to sell already sell, but for a trading stock like this, it creates further negative catalysts. If you are an investor, it is hard to not buy at $6-$7 per share. But $7 per share now is more expensive than $7 per share was just months ago, when you account for more shares, and normalization of growth. That is the problem. We continue to like trading swings on the stock long and short. As investors go, it is going to be a long road.The path is difficult, but not impossibleDespite what has happened, we continue to like the company long-term, but Palantir stock is just not working right now. On top of the continued dilution, and now the pressure of tax loss harvesting, the company is also facing slowing commercial demand, and governments that will likely reduce spending due to lower tax revenues. Much of the world is already facing or in some cases may be in a recession. The United States has been resilient, but we suspect we see inflation coming down, and the deleterious impacts of increased pressure on consumers and businesses in this more challenging economic climate. With this reality the high level of growth seems to be grinding to a halt, and could stall further in 2023. Potential game-changing names like this that do not make real profit have all been obliterated.A lot of traders do not realize (or do not care) that Palantir is not a new company. It has been around a long time, but became public in the height of the tech stock mania as we were coming out of COVID. The thing is that stocks like Palantir are indeed often extremely expensive in the early stages. The innovation space is unique. For a long time, the Street could not value them on an earnings basis because there are no or very little earnings. The Street looked to the future based on sales, cash flows, etc. One of the largest reasons stocks like this have been crushed, besides a 'tough market' is interest rates. Few have been spared. The concern is that with rates rising, money-losing stocks are out of favor. Debt becomes more expensive, and many companies will suffer. And yet, Palantir has one key advantage. It is still a money loser, though getting there toward sustained breakeven operations, but it has an incredible balance-sheet position.No debtFor years, Palantir may lose money or hover around breakeven. $7 is a level where we like this name, with all issues baked in. It is speculative, but we like it. Operationally, we are seeing some positive signs, and some negative signs. The company is not bleeding out and losing money hand over first. In fact, Given that there is no debt at all and a ton of cash on hand ($2.4 billion), Palantir is in strong shape to weather any recessionary pressures in 2023. It should not need to borrow any money, so in many ways, the high rate issue, for now, is somewhat moot. Though if their customers rely on debt to fund contracts, then it becomes a bit of a hidden risk. However, the balance sheet is a strength. The weakness is slowing growth.Slowing growthOne thing that has investors concerned is the slowing growth. The company had been growing like a spreading wildfire. It is still in growth mode, but the pace has stalled. In the recently reported quarter, performance was strong on the top line and actually was ahead of consensus estimates. Total revenue grew 22% year-over-year to $478 million, beating estimates by almost $3 million. That is strong. But those costs continue to weigh, and the cumulative impact of dilution is anchoring earnings potential. This is evidenced by Palantir's profitability being lower than expected by $0.01 per share, and worse, guidance was less than consensus.Both of Palantir's segments, the government and commercial segments, had shown incredible growth over the years. The commercial revenue stream specifically has been growing rapidly, while government results have been slowing for several quarters now. Deceleration of revenue growth is definitely a negative for a company without earnings. That said, U.S. growth is still strong. U.S. revenue rose 31% from last year, and the company grew overall customers by 66% year-over-year. Internationally the story is weaker, and likely reflects the resilience of the U.S. economy still despite global weakness.Government revenue was still up 20% from a year ago, while U.S. commercial revenue grew 53%. Look this is certainly strong growth. The Street is fickle however, as despite it being strong reported growth, the pace has stalled. But there are positives that we feel are masked to some degree, such as in margins. Gross margin was 77%, very strong, though operating margin a bit lower. Adjusted income from operations, excluding stock-based compensation and related employer payroll taxes was $81 million, representing an adjusted operating margin of 17%. The target is really around 20%. The company lost $62 million in the quarter operationally otherwise. Now, the company likes to boast its cash flow but it does back out a number of key metrics that while as reported they are burning more cash than may be thought, on their adjusted basis, free cash flow was $37 million for the quarter, and the 8th-straight quarter for which this was positive on the adjusted metrics. The company earned $0.01 per share, showing it is teetering around breakeven.ValuationOn the valuation front, Palantir stock is still expensive, even though shares have been crushed.Seeking Alpha PLTR Valuation GradeLooking at traditional price-to-earnings is foolish, showing a very pricey at 161X. Ultimately, this is what the Street will care about. For now it gets many quarters to show its potential. The Street has doubts, hence a $7 per share price tag. Perhaps the more appropriate measure is the price-to-sales ratio, but not only is this still very high, the market has basically said it is no longer willing to pay for sky high multiples. Keep that in mind. At 8X sales, the valuation has improved dramatically from where it was last year, but this is still high. The price-to-book has been improving and we are watching this as well as EV/EBIT values. Some of this stretched valuation can be justified by the still strong growth metrics.Seeking Alpha PLTR Growth MetricsSo these are still solid grades though down from the past A+ values. The performance is coming down, and that reduction, that slower growth (even though it is still strong), builds in further discounts. Rapid growth has to lead somewhere. That is the mantra.It is a long road from translating the growth metrics into tangible value, and shareholder returns. This is why the stock is stuck in the mud in the single-digits.Looking aheadSo as we have been trying to hammer home, the growth concerns are real. The thing is that the Q4 guidance was pretty weak relative to expectations, despite slightly increasing the full-year outlook. For Q4, management guided to a base case of $503-505 million in revenue. This was below consensus of $506 million, but they upped their adjusted income from operations for the year by about 10% to $385 million.Longer-term, the next few years, we think the company can still deliver 30% annual revenue growth. This will depend on how steep of a recession we get and how companies and governments value Palantir's AI decision making services. It remains to be seen but we would like to see more work done on margins to boost cash flow and to get to real earnings. Like it or not, this is what the Street wants to see. Margins need to improve and growth must remain to offset stock-based compensation. This is still a problem, and a problem for many similar companies. While Palantir's technology should help governments and businesses alike operate more efficiently, and therefore more profitably, we could see reduced spending on services like this as recession risks are mounting.Final thoughtsThe growth rate is slowing some, but the growth is strong. Palantir's valuation is still expensive, but we think the key indicator will be margins. Better margins drive earnings potential. As we head into year end, expect added pressure from tax loss harvesting. We still like trading the stock for when it runs with a hot market on good days, but for now, we think it will be difficult for the stock to advance much past $9-$10 without real movement on its performance on earnings potential. At the same time, should top line growth or customer count trends weaken further, the stock could see another wave lower. All things considered, it's still a buy at $7, but we think you should have a short-term view for gains. Take quick gains and move them elsewhere to core holdings. Sure, it is fine to own this long-term, we think it has potential, but it is a long road. It is a trading stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9015307146,"gmtCreate":1649423029615,"gmtModify":1676534509374,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Okk","listText":"Okk","text":"Okk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/9015307146","repostId":"1126153496","repostType":4,"repost":{"id":"1126153496","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":1649420108,"share":"https://ttm.financial/m/news/1126153496?lang=&edition=fundamental","pubTime":"2022-04-08 20:15","market":"us","language":"en","title":"Pre-Bell｜U.S. Stock Futures Inch Higher; Zhihu Shares Climb 8%","url":"https://stock-news.laohu8.com/highlight/detail?id=1126153496","media":"Tiger Newspress","summary":"U.S. stock futures gained in early pre-market trade, with investors continuing to contemplate the ne","content":"<html><head></head><body><p>U.S. stock futures gained in early pre-market trade, with investors continuing to contemplate the next policy moves by the Federal Reserve.</p><h2><b>Market Snapshot</b></h2><p>At 8:15 a.m. ET, Dow e-minis were up 122 points, or 0.35%, S&amp;P 500 e-minis were up 11 points, or 0.24%, and Nasdaq 100 e-minis were up 24 points, or 0.17%.<img src=\"https://static.tigerbbs.com/52edca630c66f0e73f94e78cf1df405a\" tg-width=\"410\" tg-height=\"236\" referrerpolicy=\"no-referrer\"/><b>Pre-Market Movers</b></p><p><a href=\"https://laohu8.com/S/BIIB\">Biogen</a> – Biogen fell 1% in premarket trading after the government announced that Medicare will limit coverage for Aduhelm, Biogen’s Alzheimer’s disease treatment. Coverage will only be provided for patients enrolled in clinical trials.</p><p><a href=\"https://laohu8.com/S/SAVE\">Spirit Airlines</a> – Spirit said it will begin talks with JetBlue(JBLU) about its rival’s $3.6 billion takeover bid. Spirit had agreed earlier this year to be taken over by Frontier Airlines parent Frontier Group(ULCC) but said the JetBlue offer could lead to a “superior proposal.” Spirit rose 1.4% in premarket trading, while JetBlue added 1% and Frontier jumped 2.5%.</p><p><a href=\"https://laohu8.com/S/WDFC\">WD-40</a> – WD-40 surged 9.5% in the premarket following better-than-expected quarterly earnings and revenue. The lubricant maker earned $1.41 per share for the quarter, 40 cents above estimates, although it cut its full-year guidance slightly due to inflationary challenges.</p><p><a href=\"https://laohu8.com/S/DBI\">Designer Brands</a> – The footwear and accessories retailer raised its full-year earnings outlook and reinstated its quarterly dividend after a two-year pause. The upbeat forecast comes ahead of the company’s annual investor day. Designer Brands stock jumped 4.6% in the premarket.</p><p><a href=\"https://laohu8.com/S/KR\">Kroger</a> – The supermarket operator’s stock added 2.6% in premarket action after Bank of America Securities upgraded it to “buy” from “neutral.” BofA said elevated food inflation will be among several upside earnings drivers.</p><p><a href=\"https://laohu8.com/S/CRWD\">CrowdStrike</a> – CrowdStrike rallied 3.7% in premarket action after the cloud computing company received authorization to protect critical assets of the U.S. Department of Defense.</p><p><a href=\"https://laohu8.com/S/WDAY\">Workday</a> – The finance and human resources software company struck a new $1 billion credit agreement with lenders, replacing a prior credit pact.</p><p><a href=\"https://laohu8.com/S/PSMT\">PriceSmart</a> – PriceSmart beat estimates by 3 cents with a quarterly profit of $1.03 per share and the discount retailer’s revenue was slightly above Wall Street forecasts. Merchandise sales were above $1 billion for the first time ever and membership levels also set a record.</p><p><a href=\"https://laohu8.com/S/ZH\">Zhihu</a> - Zhihu shares jumped 8% in premarket trading after passing HKEx listing hearing.</p><h2><b>Market News</b></h2><p><b>Elon Musk’s Cyber Rodeo Celebrates <a href=\"https://laohu8.com/S/TSLA\">Tesla</a>’s New Austin Plant</b></p><p>Elon Musk threw an elaborate party for more than 15,000 people Thursday night in the U.S. to celebrate Giga Texas,Tesla Inc.’s newest factory in Austin, Texas, and the company’s rapid expansion.</p><p>The “Cyber Rodeo” featured art installations including a Tesla coil, multiple stages and a sea of Texas-made Model Y sport utility vehicles, arranged to look like the Texas state flag. Tesla’s chief designer, Franz von Holzhausen, appeared on stage with Musk and the forthcoming Cybertruck, which will go into production next year.</p><p><b><a href=\"https://laohu8.com/S/TSM\">TSMC</a> Sales Soar to Record on Demand for Smartphones, Cars</b></p><p>Taiwan Semiconductor Manufacturing Co. revenue rose to a record in the first quarter on demand for chips used in smartphones, computers and cars, while a prolonged shortage helped to boost prices.</p><p>Revenue jumped 36% to NT$491.1 billion ($17 billion) in the three months through March, the company said in a statement Friday. Analysts estimated NT$469.4 billion on average. TSMC, the world’s largest contract chipmaker, is slated to report full earnings later this month.</p><p><b>Goldman Sachs</b> <b>Analyst Upgraded <a href=\"https://laohu8.com/S/CPNG\">Coupang Inc</a> to Conviction Buy</b></p><p>Goldman Sachs analyst Eric Cha upgraded <a href=\"https://laohu8.com/S/CPNG\">Coupang Inc</a> to Conviction Buy from Buy with a price target of $37, down from $52. The price target implies an upside of 108.5%.</p><p>Cha also thinks that the market underestimates Coupang&#39;s operating leverage potential concealed under COVID-induced expenses.</p><p><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Set to Stream &#39;Friday Night Baseball&#39;</b></p><p><a href=\"https://laohu8.com/S/AAPL\">Apple</a> will be shooting for a home run on Friday night as it steps up to the plate with its first live sports broadcast. <i>Friday Night Baseball</i> will debut on Apple TV+ with a streaming doubleheader as the New York Mets meet the Washington Nationals at 7 p.m. and the Los Angeles Angels host the Houston Astros at 9:30 p.m. ET.</p><p>Apple reportedly paid $85M for the two games each week, which will be available for free for a limited time without having a $4.99/monthly subscription to the streaming service.</p><p><b><a href=\"https://laohu8.com/S/WMT\">Walmart</a> Boosts Industry-Leading U.S. Trucker Pay To $110,000</b></p><p>Walmart said it is boosting starting pay for its 12,000 long-haul truck drivers who deliver merchandise to its stores and Sam&#39;s Clubs locations amid a U.S. shortage of drivers that threatens to prolong supply chain snarls and merchandise shortages.</p><p>Walmart Inc is also following rival Amazon.com Inc in incentivizing employees in other roles to retrain for in-demand transportation jobs required to ease supply chain bottlenecks and support their online operations.</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>Pre-Bell｜U.S. Stock Futures Inch Higher; Zhihu Shares Climb 8%</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\">\nPre-Bell｜U.S. Stock Futures Inch Higher; Zhihu Shares Climb 8%\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\">2022-04-08 20:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures gained in early pre-market trade, with investors continuing to contemplate the next policy moves by the Federal Reserve.</p><h2><b>Market Snapshot</b></h2><p>At 8:15 a.m. ET, Dow e-minis were up 122 points, or 0.35%, S&amp;P 500 e-minis were up 11 points, or 0.24%, and Nasdaq 100 e-minis were up 24 points, or 0.17%.<img src=\"https://static.tigerbbs.com/52edca630c66f0e73f94e78cf1df405a\" tg-width=\"410\" tg-height=\"236\" referrerpolicy=\"no-referrer\"/><b>Pre-Market Movers</b></p><p><a href=\"https://laohu8.com/S/BIIB\">Biogen</a> – Biogen fell 1% in premarket trading after the government announced that Medicare will limit coverage for Aduhelm, Biogen’s Alzheimer’s disease treatment. Coverage will only be provided for patients enrolled in clinical trials.</p><p><a href=\"https://laohu8.com/S/SAVE\">Spirit Airlines</a> – Spirit said it will begin talks with JetBlue(JBLU) about its rival’s $3.6 billion takeover bid. Spirit had agreed earlier this year to be taken over by Frontier Airlines parent Frontier Group(ULCC) but said the JetBlue offer could lead to a “superior proposal.” Spirit rose 1.4% in premarket trading, while JetBlue added 1% and Frontier jumped 2.5%.</p><p><a href=\"https://laohu8.com/S/WDFC\">WD-40</a> – WD-40 surged 9.5% in the premarket following better-than-expected quarterly earnings and revenue. The lubricant maker earned $1.41 per share for the quarter, 40 cents above estimates, although it cut its full-year guidance slightly due to inflationary challenges.</p><p><a href=\"https://laohu8.com/S/DBI\">Designer Brands</a> – The footwear and accessories retailer raised its full-year earnings outlook and reinstated its quarterly dividend after a two-year pause. The upbeat forecast comes ahead of the company’s annual investor day. Designer Brands stock jumped 4.6% in the premarket.</p><p><a href=\"https://laohu8.com/S/KR\">Kroger</a> – The supermarket operator’s stock added 2.6% in premarket action after Bank of America Securities upgraded it to “buy” from “neutral.” BofA said elevated food inflation will be among several upside earnings drivers.</p><p><a href=\"https://laohu8.com/S/CRWD\">CrowdStrike</a> – CrowdStrike rallied 3.7% in premarket action after the cloud computing company received authorization to protect critical assets of the U.S. Department of Defense.</p><p><a href=\"https://laohu8.com/S/WDAY\">Workday</a> – The finance and human resources software company struck a new $1 billion credit agreement with lenders, replacing a prior credit pact.</p><p><a href=\"https://laohu8.com/S/PSMT\">PriceSmart</a> – PriceSmart beat estimates by 3 cents with a quarterly profit of $1.03 per share and the discount retailer’s revenue was slightly above Wall Street forecasts. Merchandise sales were above $1 billion for the first time ever and membership levels also set a record.</p><p><a href=\"https://laohu8.com/S/ZH\">Zhihu</a> - Zhihu shares jumped 8% in premarket trading after passing HKEx listing hearing.</p><h2><b>Market News</b></h2><p><b>Elon Musk’s Cyber Rodeo Celebrates <a href=\"https://laohu8.com/S/TSLA\">Tesla</a>’s New Austin Plant</b></p><p>Elon Musk threw an elaborate party for more than 15,000 people Thursday night in the U.S. to celebrate Giga Texas,Tesla Inc.’s newest factory in Austin, Texas, and the company’s rapid expansion.</p><p>The “Cyber Rodeo” featured art installations including a Tesla coil, multiple stages and a sea of Texas-made Model Y sport utility vehicles, arranged to look like the Texas state flag. Tesla’s chief designer, Franz von Holzhausen, appeared on stage with Musk and the forthcoming Cybertruck, which will go into production next year.</p><p><b><a href=\"https://laohu8.com/S/TSM\">TSMC</a> Sales Soar to Record on Demand for Smartphones, Cars</b></p><p>Taiwan Semiconductor Manufacturing Co. revenue rose to a record in the first quarter on demand for chips used in smartphones, computers and cars, while a prolonged shortage helped to boost prices.</p><p>Revenue jumped 36% to NT$491.1 billion ($17 billion) in the three months through March, the company said in a statement Friday. Analysts estimated NT$469.4 billion on average. TSMC, the world’s largest contract chipmaker, is slated to report full earnings later this month.</p><p><b>Goldman Sachs</b> <b>Analyst Upgraded <a href=\"https://laohu8.com/S/CPNG\">Coupang Inc</a> to Conviction Buy</b></p><p>Goldman Sachs analyst Eric Cha upgraded <a href=\"https://laohu8.com/S/CPNG\">Coupang Inc</a> to Conviction Buy from Buy with a price target of $37, down from $52. The price target implies an upside of 108.5%.</p><p>Cha also thinks that the market underestimates Coupang&#39;s operating leverage potential concealed under COVID-induced expenses.</p><p><b><a href=\"https://laohu8.com/S/AAPL\">Apple</a> Set to Stream &#39;Friday Night Baseball&#39;</b></p><p><a href=\"https://laohu8.com/S/AAPL\">Apple</a> will be shooting for a home run on Friday night as it steps up to the plate with its first live sports broadcast. <i>Friday Night Baseball</i> will debut on Apple TV+ with a streaming doubleheader as the New York Mets meet the Washington Nationals at 7 p.m. and the Los Angeles Angels host the Houston Astros at 9:30 p.m. ET.</p><p>Apple reportedly paid $85M for the two games each week, which will be available for free for a limited time without having a $4.99/monthly subscription to the streaming service.</p><p><b><a href=\"https://laohu8.com/S/WMT\">Walmart</a> Boosts Industry-Leading U.S. Trucker Pay To $110,000</b></p><p>Walmart said it is boosting starting pay for its 12,000 long-haul truck drivers who deliver merchandise to its stores and Sam&#39;s Clubs locations amid a U.S. shortage of drivers that threatens to prolong supply chain snarls and merchandise shortages.</p><p>Walmart Inc is also following rival Amazon.com Inc in incentivizing employees in other roles to retrain for in-demand transportation jobs required to ease supply chain bottlenecks and support their online operations.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WDAY":"Workday","PSMT":"普尔斯玛特","AAPL":"苹果",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","TSM":"台积电","CPNG":"Coupang, Inc.","WDFC":"WD-40","SAVE":"Spirit Airlines","CRWD":"CrowdStrike Holdings, Inc.","TSLA":"特斯拉","ZH":"知乎","BIIB":"渤健公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126153496","content_text":"U.S. stock futures gained in early pre-market trade, with investors continuing to contemplate the next policy moves by the Federal Reserve.Market SnapshotAt 8:15 a.m. ET, Dow e-minis were up 122 points, or 0.35%, S&P 500 e-minis were up 11 points, or 0.24%, and Nasdaq 100 e-minis were up 24 points, or 0.17%.Pre-Market MoversBiogen – Biogen fell 1% in premarket trading after the government announced that Medicare will limit coverage for Aduhelm, Biogen’s Alzheimer’s disease treatment. Coverage will only be provided for patients enrolled in clinical trials.Spirit Airlines – Spirit said it will begin talks with JetBlue(JBLU) about its rival’s $3.6 billion takeover bid. Spirit had agreed earlier this year to be taken over by Frontier Airlines parent Frontier Group(ULCC) but said the JetBlue offer could lead to a “superior proposal.” Spirit rose 1.4% in premarket trading, while JetBlue added 1% and Frontier jumped 2.5%.WD-40 – WD-40 surged 9.5% in the premarket following better-than-expected quarterly earnings and revenue. The lubricant maker earned $1.41 per share for the quarter, 40 cents above estimates, although it cut its full-year guidance slightly due to inflationary challenges.Designer Brands – The footwear and accessories retailer raised its full-year earnings outlook and reinstated its quarterly dividend after a two-year pause. The upbeat forecast comes ahead of the company’s annual investor day. Designer Brands stock jumped 4.6% in the premarket.Kroger – The supermarket operator’s stock added 2.6% in premarket action after Bank of America Securities upgraded it to “buy” from “neutral.” BofA said elevated food inflation will be among several upside earnings drivers.CrowdStrike – CrowdStrike rallied 3.7% in premarket action after the cloud computing company received authorization to protect critical assets of the U.S. Department of Defense.Workday – The finance and human resources software company struck a new $1 billion credit agreement with lenders, replacing a prior credit pact.PriceSmart – PriceSmart beat estimates by 3 cents with a quarterly profit of $1.03 per share and the discount retailer’s revenue was slightly above Wall Street forecasts. Merchandise sales were above $1 billion for the first time ever and membership levels also set a record.Zhihu - Zhihu shares jumped 8% in premarket trading after passing HKEx listing hearing.Market NewsElon Musk’s Cyber Rodeo Celebrates Tesla’s New Austin PlantElon Musk threw an elaborate party for more than 15,000 people Thursday night in the U.S. to celebrate Giga Texas,Tesla Inc.’s newest factory in Austin, Texas, and the company’s rapid expansion.The “Cyber Rodeo” featured art installations including a Tesla coil, multiple stages and a sea of Texas-made Model Y sport utility vehicles, arranged to look like the Texas state flag. Tesla’s chief designer, Franz von Holzhausen, appeared on stage with Musk and the forthcoming Cybertruck, which will go into production next year.TSMC Sales Soar to Record on Demand for Smartphones, CarsTaiwan Semiconductor Manufacturing Co. revenue rose to a record in the first quarter on demand for chips used in smartphones, computers and cars, while a prolonged shortage helped to boost prices.Revenue jumped 36% to NT$491.1 billion ($17 billion) in the three months through March, the company said in a statement Friday. Analysts estimated NT$469.4 billion on average. TSMC, the world’s largest contract chipmaker, is slated to report full earnings later this month.Goldman Sachs Analyst Upgraded Coupang Inc to Conviction BuyGoldman Sachs analyst Eric Cha upgraded Coupang Inc to Conviction Buy from Buy with a price target of $37, down from $52. The price target implies an upside of 108.5%.Cha also thinks that the market underestimates Coupang's operating leverage potential concealed under COVID-induced expenses.Apple Set to Stream 'Friday Night Baseball'Apple will be shooting for a home run on Friday night as it steps up to the plate with its first live sports broadcast. Friday Night Baseball will debut on Apple TV+ with a streaming doubleheader as the New York Mets meet the Washington Nationals at 7 p.m. and the Los Angeles Angels host the Houston Astros at 9:30 p.m. ET.Apple reportedly paid $85M for the two games each week, which will be available for free for a limited time without having a $4.99/monthly subscription to the streaming service.Walmart Boosts Industry-Leading U.S. Trucker Pay To $110,000Walmart said it is boosting starting pay for its 12,000 long-haul truck drivers who deliver merchandise to its stores and Sam's Clubs locations amid a U.S. shortage of drivers that threatens to prolong supply chain snarls and merchandise shortages.Walmart Inc is also following rival Amazon.com Inc in incentivizing employees in other roles to retrain for in-demand transportation jobs required to ease supply chain bottlenecks and support their online operations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887959161,"gmtCreate":1631962554753,"gmtModify":1676530679150,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Okkkkkkkkkkk","listText":"Okkkkkkkkkkk","text":"Okkkkkkkkkkk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/887959161","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","pubTimestamp":1631921912,"share":"https://ttm.financial/m/news/1171558890?lang=&edition=fundamental","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p>\n<p>The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p>\n<p>Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p>\n<p>Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p>\n<p>Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p>\n<p>Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p>\n<p>Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p>\n<p>Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p>\n<p>Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p>\n<p>Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p>\n<p>Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p>\n<p>COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p>\n<p>London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p>\n<p>Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p>\n<p>Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week</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\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-18 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STER":"Sterling Check Corp.","ARBK":"Argo Blockchain Plc","THRN":"Thorne Healthtech","ESMT":"EngageSmart Inc.","RELY":"Remitly Global, Inc.","AKA":"a.k.a. Brands Holding Corp.","BRLT":"Brilliant Earth Group, Inc.","CWAN":"Clearwater Analytics Holdings, Inc.","TOST":"Toast, Inc.","SOVO":"Sovos Brands, Inc.","FRSH":"Freshworks","HLTH":"Cue Health Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1},"isVote":1,"tweetType":1,"viewCount":19,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9980112534,"gmtCreate":1665673043229,"gmtModify":1676537647177,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/9980112534","repostId":"1174256425","repostType":4,"repost":{"id":"1174256425","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":1665674838,"share":"https://ttm.financial/m/news/1174256425?lang=&edition=fundamental","pubTime":"2022-10-13 23:27","market":"us","language":"en","title":"September CPI Rises More Than Expected; Core CPI Rises to 40-Year High","url":"https://stock-news.laohu8.com/highlight/detail?id=1174256425","media":"Tiger Newspress","summary":"Core consumer price index jumps to 40-year highThe numbers: The cost of living rose 0.4% in Septembe","content":"<html><head></head><body><p>Core consumer price index jumps to 40-year high</p><p>The numbers: The cost of living rose 0.4% in September and pointed to high inflation persisting through the end of the year, reinforcing the view the Federal Reserve will keep raising interest rates aggressively to try to curb rampant price increases.</p><p>Economists polled by The Wall Street Journal had forecast a 0.3% increase.</p><p>The yearly rate of inflation slipped to 8.2 from 8.3%. Inflation peaked at a nearly 41-year high of 9.1% in June.</p><p>In another worrisome sign, the so-called core rate of inflation that omits food and energy prices jumped a sharp 0.6%. Wall Street had forecast a 0.4% gain.</p><p>The increase in the core rate over the past year climbed to a new peak of 6.6% from 6.3%, marking the biggest gain in 40 years.</p><p>The Fed views the core rate as a more accurate measure of future inflation trends.</p><p>The cost of staples such as food, rent, medical care and new cars all rose last month.</p><p>Inflation rose an average of less than 2% a year in the decade preceding the pandemic.</p><p>Still, the higher cost of borrowing is expected to weaken the economy over the next year and pull inflation lower. Prices tend to fall when consumers spend less and demand for goods and services dry up.</p><p>The Fed may have to raise rates so high to beat back inflation, however, that it could tip the economy into recession. The annual rate of inflation is more than quadruple the pre-pandemic levels of less than 2%.</p><p>Top officials signaled they will do what it takes to beat down inflation -- even at the cost of recession -- at the Fed&#39;s last big meeting in September.</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>September CPI Rises More Than Expected; Core CPI Rises to 40-Year High</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\">\nSeptember CPI Rises More Than Expected; Core CPI Rises to 40-Year High\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\">2022-10-13 23:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Core consumer price index jumps to 40-year high</p><p>The numbers: The cost of living rose 0.4% in September and pointed to high inflation persisting through the end of the year, reinforcing the view the Federal Reserve will keep raising interest rates aggressively to try to curb rampant price increases.</p><p>Economists polled by The Wall Street Journal had forecast a 0.3% increase.</p><p>The yearly rate of inflation slipped to 8.2 from 8.3%. Inflation peaked at a nearly 41-year high of 9.1% in June.</p><p>In another worrisome sign, the so-called core rate of inflation that omits food and energy prices jumped a sharp 0.6%. Wall Street had forecast a 0.4% gain.</p><p>The increase in the core rate over the past year climbed to a new peak of 6.6% from 6.3%, marking the biggest gain in 40 years.</p><p>The Fed views the core rate as a more accurate measure of future inflation trends.</p><p>The cost of staples such as food, rent, medical care and new cars all rose last month.</p><p>Inflation rose an average of less than 2% a year in the decade preceding the pandemic.</p><p>Still, the higher cost of borrowing is expected to weaken the economy over the next year and pull inflation lower. Prices tend to fall when consumers spend less and demand for goods and services dry up.</p><p>The Fed may have to raise rates so high to beat back inflation, however, that it could tip the economy into recession. The annual rate of inflation is more than quadruple the pre-pandemic levels of less than 2%.</p><p>Top officials signaled they will do what it takes to beat down inflation -- even at the cost of recession -- at the Fed&#39;s last big meeting in September.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174256425","content_text":"Core consumer price index jumps to 40-year highThe numbers: The cost of living rose 0.4% in September and pointed to high inflation persisting through the end of the year, reinforcing the view the Federal Reserve will keep raising interest rates aggressively to try to curb rampant price increases.Economists polled by The Wall Street Journal had forecast a 0.3% increase.The yearly rate of inflation slipped to 8.2 from 8.3%. Inflation peaked at a nearly 41-year high of 9.1% in June.In another worrisome sign, the so-called core rate of inflation that omits food and energy prices jumped a sharp 0.6%. Wall Street had forecast a 0.4% gain.The increase in the core rate over the past year climbed to a new peak of 6.6% from 6.3%, marking the biggest gain in 40 years.The Fed views the core rate as a more accurate measure of future inflation trends.The cost of staples such as food, rent, medical care and new cars all rose last month.Inflation rose an average of less than 2% a year in the decade preceding the pandemic.Still, the higher cost of borrowing is expected to weaken the economy over the next year and pull inflation lower. Prices tend to fall when consumers spend less and demand for goods and services dry up.The Fed may have to raise rates so high to beat back inflation, however, that it could tip the economy into recession. The annual rate of inflation is more than quadruple the pre-pandemic levels of less than 2%.Top officials signaled they will do what it takes to beat down inflation -- even at the cost of recession -- at the Fed's last big meeting in September.","news_type":1},"isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9937626759,"gmtCreate":1663426127071,"gmtModify":1676537269045,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9937626759","repostId":"2267061868","repostType":4,"repost":{"id":"2267061868","pubTimestamp":1663374316,"share":"https://ttm.financial/m/news/2267061868?lang=&edition=fundamental","pubTime":"2022-09-17 08:25","market":"us","language":"en","title":"Apple Stock: Watch Out for These Catalysts","url":"https://stock-news.laohu8.com/highlight/detail?id=2267061868","media":"TipRanks","summary":"Story HighlightsApple’s blockbuster Far Out show has the world buzzing over what could potentially b","content":"<div>\n<p>Story HighlightsApple’s blockbuster Far Out show has the world buzzing over what could potentially be the most successful iteration of the iPhone. Moreover, with its relatively strong results in the ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/apple-stock-nasdaqaapl-watch-out-for-these-catalysts\">Web Link</a>\n\n</div>\n","source":"lsy1606183248679","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>Apple Stock: Watch Out for These Catalysts</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\">\nApple Stock: Watch Out for These Catalysts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-17 08:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/apple-stock-nasdaqaapl-watch-out-for-these-catalysts><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Story HighlightsApple’s blockbuster Far Out show has the world buzzing over what could potentially be the most successful iteration of the iPhone. Moreover, with its relatively strong results in the ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/apple-stock-nasdaqaapl-watch-out-for-these-catalysts\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.tipranks.com/news/article/apple-stock-nasdaqaapl-watch-out-for-these-catalysts","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2267061868","content_text":"Story HighlightsApple’s blockbuster Far Out show has the world buzzing over what could potentially be the most successful iteration of the iPhone. Moreover, with its relatively strong results in the third quarter, it has the potential to continue expanding its top and bottom-line results.September has been a forgettable month for the stock market, but it turned out to be the opposite for Apple stock (NASDAQ:AAPL). The tech giant wrapped up its hotly anticipated Far Out event recently, where it unveiled the latest versions of the iPhone, AirPods, and Apple Watch, much to the delight of its loyal customer base. Moreover, despite the headwinds, its steady revenue expansion and EBITDA growth over the past year make it a solid bet over the long term. Hence, we are bullish on AAPL stock.Similar to previous versions of the iPhone, the newest iteration was able to capture the imaginations of its customer base yet again. Moreover, the biggest surprise was no hike in the price of the iPhone 14 in the U.S. The ability to retain its pricing suggests it’s struck an incredible balance between growth and profitability. The strategy is likely to boost sales immensely once it hits the markets.Furthermore, keeping its prices in check is doubly important now, considering the drop in discretionary spending. High prices will likely make customers fret over spending over $1,000 on an iPhone, but keeping its prices steady is an incredible achievement.Apple’s latest products will likely be a major catalyst for its business. Layer that up with its sticky Apple services, and you have a juggernaut that should steamroll its competition. Most analysts believe these new products will likely elevate its stock price soon. With the current pull-back in prices, it’s probably the right move to invest in AAPL stock.AAPL Stock Could Move Higher in the Near-TermDespite the economic challenges, AAPL stock was able to kick start a few short-lived rallies. Before the Far Out event, Apple stock was deep in the red, but the event’s success kickstarted a rally. Also, the upcoming quarter will be an important litmus test for the business, which could also boost AAPL stock to new heights.With rising inflation across the globe, most tech companies reported low sales numbers, and their stock prices took a massive beating. However, Apple’s third-quarter results were much better than expected, considering the circumstances. With the company’s amazing track record, it’s tough to count out its growth trajectory.Apple Had a Remarkable Third Quarter ShowingApple’s revenues came in at $83 billion for Q3, almost a 2% improvement from the prior-year period. Despite the economic downturn, Apple reported its net profit of $19.4 billion and earnings per share of $1.20, which came in $0.04 higher than analyst estimates. Moreover, it generated record sales in its Services segment. The resilient results during the quarter demonstrate the impact of Apple on its massive customer base.Moreover, the company could generate close to $40.7 billion while dealing with the threat of recession. It seems Apple has done well to manage the impact of inflation and grow its results at a steady pace. It has set itself up for bumper quarters ahead with the release of new products.Apple Expands Production Outside of ChinaApple has announced that it will expand its production outside China to diversify its supply chain and reduce its reliance on a single country. Consequently, Apple invested $1 billion in India, along with expanding into existing facilities in Vietnam and Brazil. The company is also working on setting up a new production line in the U.S.This represents a major shift for Apple, which has so far relied on China for most of its manufacturing. With the reduction in production-related bottlenecks, Apple can effectively manage its operational costs and boost its bottom-line results in the years to come. With the global supply chain challenges, its imperative for companies to have a diversified production base.Is Apple Stock a Buy or a Sell?Turning to Wall Street, AAPL stock maintains a Strong Buy consensus rating. Out of 28 total analyst ratings, 23 Buys, four Holds, and one Sell were assigned over the past three months. The average AAPL price target is $183.56, implying a 20.5% upside potential. Analyst price targets range from a low of $136 per share to a high of $220 per share.Takeaway: AAPL Stock is the Leader of Big TechApple is the crème de la crème as far as tech companies are concerned. It has a history of producing premium products, which continue to capture the imaginations of its customer base. The iPhone Series has been a cash cow for the company and is unlikely to change anytime soon. It has generated billions of dollars for the company, and every new version of the iPhone proves its naysayers wrong.Moreover, the company’s penchant for innovation and diversification remains its strong suit and is arguably the growth catalyst it needs to be successful in the long haul. Additionally, the company remains consistent in rewarding its shareholders.Considering its strong customer base, high demand, high returns, and massive free cash flow, it would not be surprising if AAPL stock performs exceedingly well over the long term. It has, time and again, proven its critics wrong by posting incredible results across all its core and non-core segments.","news_type":1},"isVote":1,"tweetType":1,"viewCount":72,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032146426,"gmtCreate":1647312941803,"gmtModify":1676534215606,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Okkk","listText":"Okkk","text":"Okkk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032146426","repostId":"2219209972","repostType":4,"repost":{"id":"2219209972","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647297540,"share":"https://ttm.financial/m/news/2219209972?lang=&edition=fundamental","pubTime":"2022-03-15 06:39","market":"us","language":"en","title":"Tech, Growth Stocks Lead Wall Street to Lower Close as Investors Focus on Interest Rates","url":"https://stock-news.laohu8.com/highlight/detail?id=2219209972","media":"Reuters","summary":"* Financial shares higher* Energy shares slip as Brent falls* All eyes on Fed policy meeting* Indexe","content":"<html><head></head><body><p>* Financial shares higher</p><p>* Energy shares slip as Brent falls</p><p>* All eyes on Fed policy meeting</p><p>* Indexes: Dow flat, S&amp;P 500 down 0.7%, Nasdaq down 2%</p><p>NEW YORK, March 14 (Reuters) - Major U.S. stock indexes closed mostly lower on Monday, led by a more than 2% drop in Nasdaq, as investors sold tech and big growth names ahead of this week&#39;s Federal Reserve meeting and an expected hike in interest rates.</p><p>The Dow ended flat, with financial and healthcare shares giving the index some support.</p><p>Developments in the Ukraine-Russia conflict added to investor caution as Russian and Ukrainian delegations held a fourth round of talks on Monday, but no progress was announced, while Russian forces allowed a first convoy of cars to escape Ukraine&#39;s besieged port of Mariupol.</p><p>Apple Inc shares fell 2.7% and weighed the most on the S&amp;P 500 and Nasdaq after its supplier Hon Hai Precision Industry Co Ltd, known as Foxconn, suspended operations in China&#39;s Shenzhen amid rising COVID-19 cases.</p><p>The Fed is expected to raise interest rates for the first time in three years Wednesday in an effort to combat rising inflation.</p><p>&#34;We&#39;re seeing that rotation into value and away from growth, and a lot of that is tied to what&#39;s happening to interest rates,&#34; said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.</p><p>&#34;Equity markets are going to be challenged going forward, and today is yet another example of that.&#34;</p><p>The technology sector and consumer discretionary were the biggest drags on the S&amp;P 500. Higher interest rates are a negative for tech and growth stocks because their valuations rely more heavily on future cash flows.</p><p>The Dow Jones Industrial Average rose 1.05 points to 32,945.24, the S&amp;P 500 lost 31.2 points, or 0.74%, to 4,173.11 and the Nasdaq Composite dropped 262.59 points, or 2.04%, to 12,581.22.</p><p>The Russell 2000 index of small capitalization stocks fell 1.9% and was down more than 20% from its November record closing high. The Cboe volatility index, also known as Wall Street&#39;s fear gauge, rose.</p><p>The S&amp;P financial index rose 1.3% as U.S. Treasury yields jumped to 2-1/2-year highs. The healthcare sector advanced 0.7%, with UnitedHealth Group up 1%.</p><p>Energy slid 2.9%, as Brent crude fell below $110 a barrel, a week after it rose as high as $139 due to the Ukraine crisis.</p><p>Oil and other commodity prices have shot up following tough Western sanctions against Russia.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 3.05-to-1 ratio; on Nasdaq, a 2.97-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 11 new 52-week highs and 32 new lows; the Nasdaq Composite recorded 26 new highs and 615 new lows.</p><p>Volume on U.S. exchanges was 14.26 billion shares, compared with the 13.7 billion average for the full session over the last 20 trading days.</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>Tech, Growth Stocks Lead Wall Street to Lower Close as Investors Focus on Interest Rates</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\">\nTech, Growth Stocks Lead Wall Street to Lower Close as Investors Focus on Interest Rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-15 06:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Financial shares higher</p><p>* Energy shares slip as Brent falls</p><p>* All eyes on Fed policy meeting</p><p>* Indexes: Dow flat, S&amp;P 500 down 0.7%, Nasdaq down 2%</p><p>NEW YORK, March 14 (Reuters) - Major U.S. stock indexes closed mostly lower on Monday, led by a more than 2% drop in Nasdaq, as investors sold tech and big growth names ahead of this week&#39;s Federal Reserve meeting and an expected hike in interest rates.</p><p>The Dow ended flat, with financial and healthcare shares giving the index some support.</p><p>Developments in the Ukraine-Russia conflict added to investor caution as Russian and Ukrainian delegations held a fourth round of talks on Monday, but no progress was announced, while Russian forces allowed a first convoy of cars to escape Ukraine&#39;s besieged port of Mariupol.</p><p>Apple Inc shares fell 2.7% and weighed the most on the S&amp;P 500 and Nasdaq after its supplier Hon Hai Precision Industry Co Ltd, known as Foxconn, suspended operations in China&#39;s Shenzhen amid rising COVID-19 cases.</p><p>The Fed is expected to raise interest rates for the first time in three years Wednesday in an effort to combat rising inflation.</p><p>&#34;We&#39;re seeing that rotation into value and away from growth, and a lot of that is tied to what&#39;s happening to interest rates,&#34; said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.</p><p>&#34;Equity markets are going to be challenged going forward, and today is yet another example of that.&#34;</p><p>The technology sector and consumer discretionary were the biggest drags on the S&amp;P 500. Higher interest rates are a negative for tech and growth stocks because their valuations rely more heavily on future cash flows.</p><p>The Dow Jones Industrial Average rose 1.05 points to 32,945.24, the S&amp;P 500 lost 31.2 points, or 0.74%, to 4,173.11 and the Nasdaq Composite dropped 262.59 points, or 2.04%, to 12,581.22.</p><p>The Russell 2000 index of small capitalization stocks fell 1.9% and was down more than 20% from its November record closing high. The Cboe volatility index, also known as Wall Street&#39;s fear gauge, rose.</p><p>The S&amp;P financial index rose 1.3% as U.S. Treasury yields jumped to 2-1/2-year highs. The healthcare sector advanced 0.7%, with UnitedHealth Group up 1%.</p><p>Energy slid 2.9%, as Brent crude fell below $110 a barrel, a week after it rose as high as $139 due to the Ukraine crisis.</p><p>Oil and other commodity prices have shot up following tough Western sanctions against Russia.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 3.05-to-1 ratio; on Nasdaq, a 2.97-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 11 new 52-week highs and 32 new lows; the Nasdaq Composite recorded 26 new highs and 615 new lows.</p><p>Volume on U.S. exchanges was 14.26 billion shares, compared with the 13.7 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UPRO":"三倍做多标普500ETF","SH":"标普500反向ETF","BK4079":"房地产服务","IVV":"标普500指数ETF","BK4581":"高盛持仓","SSO":"两倍做多标普500ETF","BK4504":"桥水持仓","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","COMP":"Compass, Inc.","BK4539":"次新股","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500ETF","BK4534":"瑞士信贷持仓",".SPX":"S&P 500 Index","OEX":"标普100","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2219209972","content_text":"* Financial shares higher* Energy shares slip as Brent falls* All eyes on Fed policy meeting* Indexes: Dow flat, S&P 500 down 0.7%, Nasdaq down 2%NEW YORK, March 14 (Reuters) - Major U.S. stock indexes closed mostly lower on Monday, led by a more than 2% drop in Nasdaq, as investors sold tech and big growth names ahead of this week's Federal Reserve meeting and an expected hike in interest rates.The Dow ended flat, with financial and healthcare shares giving the index some support.Developments in the Ukraine-Russia conflict added to investor caution as Russian and Ukrainian delegations held a fourth round of talks on Monday, but no progress was announced, while Russian forces allowed a first convoy of cars to escape Ukraine's besieged port of Mariupol.Apple Inc shares fell 2.7% and weighed the most on the S&P 500 and Nasdaq after its supplier Hon Hai Precision Industry Co Ltd, known as Foxconn, suspended operations in China's Shenzhen amid rising COVID-19 cases.The Fed is expected to raise interest rates for the first time in three years Wednesday in an effort to combat rising inflation.\"We're seeing that rotation into value and away from growth, and a lot of that is tied to what's happening to interest rates,\" said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.\"Equity markets are going to be challenged going forward, and today is yet another example of that.\"The technology sector and consumer discretionary were the biggest drags on the S&P 500. Higher interest rates are a negative for tech and growth stocks because their valuations rely more heavily on future cash flows.The Dow Jones Industrial Average rose 1.05 points to 32,945.24, the S&P 500 lost 31.2 points, or 0.74%, to 4,173.11 and the Nasdaq Composite dropped 262.59 points, or 2.04%, to 12,581.22.The Russell 2000 index of small capitalization stocks fell 1.9% and was down more than 20% from its November record closing high. The Cboe volatility index, also known as Wall Street's fear gauge, rose.The S&P financial index rose 1.3% as U.S. Treasury yields jumped to 2-1/2-year highs. The healthcare sector advanced 0.7%, with UnitedHealth Group up 1%.Energy slid 2.9%, as Brent crude fell below $110 a barrel, a week after it rose as high as $139 due to the Ukraine crisis.Oil and other commodity prices have shot up following tough Western sanctions against Russia.Declining issues outnumbered advancing ones on the NYSE by a 3.05-to-1 ratio; on Nasdaq, a 2.97-to-1 ratio favored decliners.The S&P 500 posted 11 new 52-week highs and 32 new lows; the Nasdaq Composite recorded 26 new highs and 615 new lows.Volume on U.S. exchanges was 14.26 billion shares, compared with the 13.7 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097976434,"gmtCreate":1645324287404,"gmtModify":1676534018766,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Okk","listText":"Okk","text":"Okk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097976434","repostId":"2212622457","repostType":4,"repost":{"id":"2212622457","pubTimestamp":1645322543,"share":"https://ttm.financial/m/news/2212622457?lang=&edition=fundamental","pubTime":"2022-02-20 10:02","market":"us","language":"en","title":"Death cross crystallizes in Nasdaq Composite on Friday for first time in 2 years, in a bearish sign for the stock market","url":"https://stock-news.laohu8.com/highlight/detail?id=2212622457","media":"MarketWatch","summary":"The Nasdaq Composite index has produced a \"death cross\" chart pattern on Friday, a bearish chart pat","content":"<html><head></head><body><p>The Nasdaq Composite index has produced a &#34;death cross&#34; chart pattern on Friday, a bearish chart pattern for an asset.</p><p>History suggests this occurrence could weigh on the broader stock market over the shorter term, however, it is unclear if the formation of the downbeat pattern, closely followed by market technicians, signals more pain ahead or simply affirms a downtrend that has taken shape in markets.</p><p>A death cross appears when the 50-day moving average crosses below the 200-day moving average, an event that many chart watchers view as marking the spot a shorter-term correction morphs into a longer-term downtrend.</p><p>On Friday morning, the Nasdaq Composite&#39;s 50-day moving average was at 14,710.76, while the its 200-day moving average stood at 14,740.44 (see attached chart).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3dcd09b437518341a25b40e8363c0605\" tg-width=\"700\" tg-height=\"333\" width=\"100%\" height=\"auto\"/><span>FactSet</span></p><p>The last time a death cross formed in the Nasdaq Composite was April 16, 2020, according to Dow Jones Market Data.</p><p>It is worth noting that such crosses aren&#39;t necessarily good market-timing indicators, however, as they are well telegraphed, but they can help put a selloff in historical perspective, technicians say.</p><p>U.S. stocks, and specifically once-highflying technology stocks, have been buffeted by expectations of a new regime of higher interest rates to be ushered in by the Federal Reserve as it combats surging inflation.</p><p>Concerns about military conflict in Europe also have provoked anxieties among bullish investors and driven down the value in stocks in speculative and yield-sensitive areas of the market, which makes up a large chunk of the Nasdaq Composite constituents.</p><p>On Friday, stocks ended lower, with the Nasdaq Composite down 1.2%, while the S&amp;P 500 index down 0.7% and the Dow Jones Industrial Average was trading 0.7% lower.</p><p>Neither the Dow nor the S&amp;P 500 are close to seeing death crosses. However, a death cross materialized in the small-capitalization oriented Russell 2000 index at the start of 2022, FactSet data show.</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Death cross crystallizes in Nasdaq Composite on Friday for first time in 2 years, in a bearish sign for the stock 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\">\nDeath cross crystallizes in Nasdaq Composite on Friday for first time in 2 years, in a bearish sign for the stock market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-20 10:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/death-cross-crystallizes-in-nasdaq-composite-on-friday-for-first-time-in-2-years-in-a-bearish-sign-for-the-stock-market-11645196858?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Nasdaq Composite index has produced a \"death cross\" chart pattern on Friday, a bearish chart pattern for an asset.History suggests this occurrence could weigh on the broader stock market over the ...</p>\n\n<a href=\"https://www.marketwatch.com/story/death-cross-crystallizes-in-nasdaq-composite-on-friday-for-first-time-in-2-years-in-a-bearish-sign-for-the-stock-market-11645196858?mod=home-page\">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",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/death-cross-crystallizes-in-nasdaq-composite-on-friday-for-first-time-in-2-years-in-a-bearish-sign-for-the-stock-market-11645196858?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212622457","content_text":"The Nasdaq Composite index has produced a \"death cross\" chart pattern on Friday, a bearish chart pattern for an asset.History suggests this occurrence could weigh on the broader stock market over the shorter term, however, it is unclear if the formation of the downbeat pattern, closely followed by market technicians, signals more pain ahead or simply affirms a downtrend that has taken shape in markets.A death cross appears when the 50-day moving average crosses below the 200-day moving average, an event that many chart watchers view as marking the spot a shorter-term correction morphs into a longer-term downtrend.On Friday morning, the Nasdaq Composite's 50-day moving average was at 14,710.76, while the its 200-day moving average stood at 14,740.44 (see attached chart).FactSetThe last time a death cross formed in the Nasdaq Composite was April 16, 2020, according to Dow Jones Market Data.It is worth noting that such crosses aren't necessarily good market-timing indicators, however, as they are well telegraphed, but they can help put a selloff in historical perspective, technicians say.U.S. stocks, and specifically once-highflying technology stocks, have been buffeted by expectations of a new regime of higher interest rates to be ushered in by the Federal Reserve as it combats surging inflation.Concerns about military conflict in Europe also have provoked anxieties among bullish investors and driven down the value in stocks in speculative and yield-sensitive areas of the market, which makes up a large chunk of the Nasdaq Composite constituents.On Friday, stocks ended lower, with the Nasdaq Composite down 1.2%, while the S&P 500 index down 0.7% and the Dow Jones Industrial Average was trading 0.7% lower.Neither the Dow nor the S&P 500 are close to seeing death crosses. However, a death cross materialized in the small-capitalization oriented Russell 2000 index at the start of 2022, FactSet data show.","news_type":1},"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001006309,"gmtCreate":1641095367908,"gmtModify":1676533571956,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Ik","listText":"Ik","text":"Ik","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001006309","repostId":"2200441314","repostType":4,"repost":{"id":"2200441314","pubTimestamp":1641085740,"share":"https://ttm.financial/m/news/2200441314?lang=&edition=fundamental","pubTime":"2022-01-02 09:09","market":"us","language":"en","title":"2 No-Brainer Stocks Down 27% to 35% to Buy for 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2200441314","media":"Motley Fool","summary":"These hot tech stocks might be a steal at these prices.","content":"<html><head></head><body><p>While the stock market at large is hitting all-time highs, many technology stocks have been getting hammered in 2021. Despite this broad drop in tech companies, many businesses are seeing strong success operationally. The share prices are sinking, but these companies continue to grow their top-line and establish their leadership roles in their respective industries.</p><p>Both <b><a href=\"https://laohu8.com/S/PATH\">UiPath</a></b> (NYSE:PATH) and <b>Twilio</b> (NYSE:TWLO) are in this boat. Shares of both tech stocks have fallen 35% and nearly 30%, respectively, despite strong growth across their businesses. With large markets ahead of them, I think today&#39;s prices could be optimal buying opportunities to get these innovative stocks at a bargain.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ba4359608f283fe2078db19e0b044a2\" tg-width=\"700\" tg-height=\"465\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><h2>1. UiPath: Bringing AI to the enterprise</h2><p>We have all been doing something so tedious and repetitive at work that we wish we could simply have it magically completed. It is, after all, a huge waste of our time because we would rather work on more thought-intensive, engaging work. With artificial intelligence-powered virtual bots, UiPath is turning our wishes into commands.</p><p>The company offers automation software that can emulate a human by understanding what is on a screen, extracting data, and making critical decisions. However, this software can do it much faster than humans, making 58% fewer mistakes. UiPath uses robotic process automation (RPA) in tandem with humans to make businesses more efficient. With UiPath, real workers are not fired or eliminated but rather freed to work on more critical tasks. UiPath has saved some of its customers millions of hours and dollars, which is why over 9,600 customers use UiPath and are currently spending 44% more than they did <a href=\"https://laohu8.com/S/AONE.U\">one</a> year ago.</p><p>The stock has not fallen because of bad operational performance. The company has brought in $602.5 million in revenue so far this year, 50% higher than the year-ago period. Shares have taken a downturn because of the major uptick in the company&#39;s net loss. In the third quarter, the company lost almost $123 million -- more than the total net loss for the first nine months of 2020. This has been because UiPath has rapidly ramped up its spending on advertising, along with research and development.</p><p>This is not without good reason, however. The company projects that its addressable market will nearly double to $30 billion by 2024. UiPath is already the industry leader in RPA, according to <b>Gartner</b>&#39;s Magic Quadrant, but the company is ramping up spending to make sure its competitors like Automation Anywhere do not overtake them. With the RPA market growing so rapidly over the next few years, UiPath is spending now -- rather successfully -- to obtain brand recognition as the industry begins to explode.</p><p>Here&#39;s the bottom line: UiPath is the leader in a futuristic industry that is expected to grow rapidly over the next few years. With so much investment going toward capturing this growth, along with a dominant product that has caught the eyes of NASA and <b>Alphabet</b>, I think that today&#39;s share prices are a gift to long-term investors.</p><h2>2. Twilio: Falling victim to the tech sell-off</h2><p>With over 250,000 businesses using Twilio, most of us have used its technology without even recognizing it. Anyone who has ever communicated with a food delivery driver or <b>Lyft</b> driver has used Twilio&#39;s services unknowingly. The company is helping other enterprises communicate within apps, allowing consumers and businesses to connect easier. These services seem to have grown even more important for Twilio&#39;s users as they are now spending 31% more today than they did one year ago with the company.</p><p>Twilio posted year-over-year revenue growth of 65% in Q3, but some of that came from its acquisitions. Although the company has consistently been able to post impressive organic growth -- something most growth-by-acquisition companies lack. In Q3, the company&#39;s revenue improved 38% year over year organically, and it has been able to organically boost its top line by 34% or more year over year for the past nine quarters.</p><p>Shares have largely been sent downward in 2021, and Twilio&#39;s major net losses haven&#39;t been helping. The company lost $224 million in Q3, with almost $170 million of that being stock-based compensation. While this might be worrisome today, it is overshadowed by the impressive top-line growth that the company is seeing, both organically and inorganically, in this lucrative market. At 17 times sales, this stock is trading at levels not seen since mid-2020, leaving an opportunistic window for investors.</p><p>The use of in-app communication will only become more prevalent as the world continues to adopt these habits, and Twilio has been and will likely continue benefiting from it. Twilio&#39;s future is bright, which is why I think investors should consider taking advantage of these low stock prices today.</p></body></html>","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>2 No-Brainer Stocks Down 27% to 35% to Buy for 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\">\n2 No-Brainer Stocks Down 27% to 35% to Buy for 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-02 09:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/01/2-no-brainer-stocks-down-27-to-35-to-buy-for-2022/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While the stock market at large is hitting all-time highs, many technology stocks have been getting hammered in 2021. Despite this broad drop in tech companies, many businesses are seeing strong ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/01/2-no-brainer-stocks-down-27-to-35-to-buy-for-2022/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4116":"互联网服务与基础架构","BK4539":"次新股","BK4528":"SaaS概念","BK4505":"高瓴资本持仓","PATH":"UiPath","BK4551":"寇图资本持仓","BK4561":"索罗斯持仓","BK4548":"巴美列捷福持仓","TWLO":"Twilio Inc","BK4097":"系统软件"},"source_url":"https://www.fool.com/investing/2022/01/01/2-no-brainer-stocks-down-27-to-35-to-buy-for-2022/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2200441314","content_text":"While the stock market at large is hitting all-time highs, many technology stocks have been getting hammered in 2021. Despite this broad drop in tech companies, many businesses are seeing strong success operationally. The share prices are sinking, but these companies continue to grow their top-line and establish their leadership roles in their respective industries.Both UiPath (NYSE:PATH) and Twilio (NYSE:TWLO) are in this boat. Shares of both tech stocks have fallen 35% and nearly 30%, respectively, despite strong growth across their businesses. With large markets ahead of them, I think today's prices could be optimal buying opportunities to get these innovative stocks at a bargain.Image source: Getty Images.1. UiPath: Bringing AI to the enterpriseWe have all been doing something so tedious and repetitive at work that we wish we could simply have it magically completed. It is, after all, a huge waste of our time because we would rather work on more thought-intensive, engaging work. With artificial intelligence-powered virtual bots, UiPath is turning our wishes into commands.The company offers automation software that can emulate a human by understanding what is on a screen, extracting data, and making critical decisions. However, this software can do it much faster than humans, making 58% fewer mistakes. UiPath uses robotic process automation (RPA) in tandem with humans to make businesses more efficient. With UiPath, real workers are not fired or eliminated but rather freed to work on more critical tasks. UiPath has saved some of its customers millions of hours and dollars, which is why over 9,600 customers use UiPath and are currently spending 44% more than they did one year ago.The stock has not fallen because of bad operational performance. The company has brought in $602.5 million in revenue so far this year, 50% higher than the year-ago period. Shares have taken a downturn because of the major uptick in the company's net loss. In the third quarter, the company lost almost $123 million -- more than the total net loss for the first nine months of 2020. This has been because UiPath has rapidly ramped up its spending on advertising, along with research and development.This is not without good reason, however. The company projects that its addressable market will nearly double to $30 billion by 2024. UiPath is already the industry leader in RPA, according to Gartner's Magic Quadrant, but the company is ramping up spending to make sure its competitors like Automation Anywhere do not overtake them. With the RPA market growing so rapidly over the next few years, UiPath is spending now -- rather successfully -- to obtain brand recognition as the industry begins to explode.Here's the bottom line: UiPath is the leader in a futuristic industry that is expected to grow rapidly over the next few years. With so much investment going toward capturing this growth, along with a dominant product that has caught the eyes of NASA and Alphabet, I think that today's share prices are a gift to long-term investors.2. Twilio: Falling victim to the tech sell-offWith over 250,000 businesses using Twilio, most of us have used its technology without even recognizing it. Anyone who has ever communicated with a food delivery driver or Lyft driver has used Twilio's services unknowingly. The company is helping other enterprises communicate within apps, allowing consumers and businesses to connect easier. These services seem to have grown even more important for Twilio's users as they are now spending 31% more today than they did one year ago with the company.Twilio posted year-over-year revenue growth of 65% in Q3, but some of that came from its acquisitions. Although the company has consistently been able to post impressive organic growth -- something most growth-by-acquisition companies lack. In Q3, the company's revenue improved 38% year over year organically, and it has been able to organically boost its top line by 34% or more year over year for the past nine quarters.Shares have largely been sent downward in 2021, and Twilio's major net losses haven't been helping. The company lost $224 million in Q3, with almost $170 million of that being stock-based compensation. While this might be worrisome today, it is overshadowed by the impressive top-line growth that the company is seeing, both organically and inorganically, in this lucrative market. At 17 times sales, this stock is trading at levels not seen since mid-2020, leaving an opportunistic window for investors.The use of in-app communication will only become more prevalent as the world continues to adopt these habits, and Twilio has been and will likely continue benefiting from it. Twilio's future is bright, which is why I think investors should consider taking advantage of these low stock prices today.","news_type":1},"isVote":1,"tweetType":1,"viewCount":11,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926985160,"gmtCreate":1671447293151,"gmtModify":1676538537728,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Hhhh","listText":"Hhhh","text":"Hhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9926985160","repostId":"2291016896","repostType":4,"repost":{"id":"2291016896","pubTimestamp":1671437725,"share":"https://ttm.financial/m/news/2291016896?lang=&edition=fundamental","pubTime":"2022-12-19 16:15","market":"us","language":"en","title":"Alibaba: The Audits Look Increasingly Bullish","url":"https://stock-news.laohu8.com/highlight/detail?id=2291016896","media":"Seeking Alpha","summary":"SummaryRecently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.The SEC said that it received \"good access\" to the books after \"thorough and systematic tes","content":"<html><head></head><body><h2>Summary</h2><ul><li>Recently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.</li><li>The SEC said that it received &#34;good access&#34; to the books after &#34;thorough and systematic testing.&#34;</li><li>The SEC&#39;s comments combined with the speed of its review suggests that at least some of the reviews went well.</li><li>It&#39;s too early to say for sure that Alibaba Group Holding Limited&#39;s review, specifically, went well.</li><li>However, the early signs provide reasons for optimism.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eff714aff7a0e8bccd48ce41e42132fd\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\"/><span>Lintao Zhang</span></p><p>Recently, the Securities and Exchange Commission (“SEC”) announced that it had concluded its audit review of U.S.-listed Chinese stocks. By all accounts, the review went well. The SEC completed its work ahead of schedule, indicating that the inspections went smoothly. Today, the PCAOB further announced that it had receivedgood access to Chinese companies’ books after “thorough and systematic testing.”</p><p>We can’t say for sure that the total review went well (there’s more to audits than just &#34;accessing&#34; things), but the swift conclusion and glowing comments suggest that the SEC is about to hand investors some good news. So far, it has reviewed BABA and a few other companies’ books–it was these reviews that the glowing comments pertained to. We could yet see some smaller companies getting unfavorable reviews, but the news looks good for investors in Chinese blue chips.</p><p>The audit review isn’t over yet, as the SEC still has to finish reviewing documents. In addition to issues at facilities, accounting discrepancies can also trigger unfavorable audit opinions. We’ll have to wait and see whether the SEC thinks Chinese firms are doing good audits, but it shouldn’t be more than a few weeks’ wait. The final reports are expected this month.</p><p>This is all very encouraging news for <b>Alibaba Group Holding Limited</b> (NYSE:BABA) shareholders. Alibaba was one of the companies picked by the SEC to be reviewed first, so the SEC’s report on it should be out pretty soon. We don’t have an exact date on which the report will publish, but we do know that the SEC expects to republish reports by the end of 2022. Given that we’re halfway through December, that means we should be seeing something in a matter of weeks.</p><p>If any Chinese company is likely to pass the SEC’s audit inspections with flying colors, Alibaba is the one. As an e-commerce company, its business lacks any meaningful tie to state military or intelligence activities. Alibaba Cloud once held some government contracts, but those ended when China shifted to doing cloud services in-house.</p><p>There is little that Alibaba would need to hide from the U.S. government, so it’s likely to have given the SEC access to all the documents it needs. For this reason, I consider the upcoming audit review publication to be a bullish catalyst for the stock, as we’re seeing solid signs that the result will be a positive one.</p><h2>Alibaba - My Fundamental Thesis</h2><p>Alibaba is a stock I have covered extensively on Seeking Alpha and on Twitter. The basic gist of my thesis on the stock can be found in my past articles on the topic. To review briefly:</p><ul><li>Alibaba is cheap, with valuation multiples below those of similar-sized U.S. tech stocks.</li><li><p>The company is growing, having achieved 68% growth in operating income and 61% growth in free cash flow in its most recent quarter.</p></li><li><p>It also has a strong competitive position; it faces two main competitors in China, <b>JD.com</b> (JD) and <b>Pinduouo</b> (PDD), both of which have different business models than BABA’s own. Neither of these companies competes with Alibaba Cloud, which is China’s Cloud market leader. Alibaba competes with <b>Tencent</b> (OTCPK:TCEHY) in the Cloud and payments.</p></li></ul><p>For a big picture overview of my thoughts on Alibaba, you can check out my recent article Alibaba: FOMO is No Reason to Buy, which covers the competitive landscape, valuation, and a few possible catalysts. Basically, the stock has both value and growth characteristics, a strong competitive position, and a number of catalysts on the horizon. I’ll dedicate the remainder of this article to discussing the audit review catalyst in detail.</p><h2>Chinese Company Audit Reviews - The Background Story</h2><p>The ongoing SEC reviews of Chinese audit documents are just the latest in a much longer saga concerning the delisting of Chinese stocks from the NYSE. Beginning in the Trump Administration, the U.S. began delisting Chinese companies thought to not be in compliance with U.S. auditing standards. After Trump left office, the Biden administration kept the former President’s policies in place. In fact, the policies accelerated after the new administration came in. In 2022, the SEC added dozens of Chinese companies to the “Holding Foreign Companies Accountable Act” (a list of Chinese companies being considered for delisting). Later, it banned exports of various chip components to China, and demanded that <b>ASML Holding</b> (ASML) stop selling EUV lithography machines to China. The trade tensions between the U.S. and China have been steadily escalating, which is part of why many people think that Chinese stocks will end up getting delisted.</p><p>There is little doubt in my mind that some Chinese stocks will in fact be delisted. However, Alibaba specifically has a good chance of making the grade, as I’ll show in the next section.</p><h2>Why Alibaba Is A Top Contender For A Favorable Audit Review</h2><p>There are several reasons why Alibaba is a top contender for a favorable audit review by the SEC.</p><p>The first is the simple fact that China has no incentive to withhold data from foreign investors. The U.S./China audit dispute ultimately comes down to the U.S. wanting more data and China wanting to protect sensitive national security information. When it comes to industries like semiconductors, telecoms and social media, disclosing complete information can sometimes compromise national security. Semiconductors are used in drones, telco data includes peoples’ locations, and social media can be used to gather intelligence. Offering these kinds of companies to full audits by foreign countries can be a national security risk. For example, if you let a foreign country’s auditors inspect a chip maker’s facilities, they could bring trade secrets back home with them. Chinese companies that handle such information may not be able to comply with SEC audit requirements.</p><p>Alibaba is not such a company. It’s an e-commerce firm, meaning that it helps people buy and sell goods online. It does so through business to consumer (“B2C”) services like AliExpress and Tmall, and business to business (“B2B”) services like Alibaba.com. In neither B2C nor B2B use cases is Alibaba required to store sensitive national security data, so it should be able to offer the SEC reasonable access, both on site and in documents. I don’t think Alibaba’s recent foray into chips detracts from this point, as BABA’s chips are not going to be used in military devices.</p><h2>Why A Favorable Audit Review Is A Catalyst</h2><p>The reason why a favorable audit review would be a bullish catalyst for Alibaba is because the company is currently trading at a discount to fair value, its price being held back by perceived risk factors. The risk factors holding back the stock’s price include U.S./China tensions, COVID Zero, and lingering concerns about 2021’s tech crackdown. Many of the perceived risk factors have been overcome. For example, we haven’t heard about any new regulatory measures since early this year, and China has eased its COVID control policies. A favorable audit review opinion would be just the next catalyst we’d need for another leg up.</p><p>Alibaba would have significant upside based on nothing other than its valuation converging with that of U.S. big tech companies.</p><p>At today’s levels, the NASDAQ 100-Index (NDX) trades at:</p><ul><li><p>24.5 times earnings.</p></li><li><p>6 times book value.</p></li><li><p>3.6 times sales.</p></li></ul><p>By contrast, Alibaba trades at:</p><ul><li><p>12.3 times adjusted earnings.</p></li><li><p>1.79 times book value.</p></li><li><p>1.9 times sales.</p></li></ul><p>Were Alibaba to hit the NASDAQ-100’s earnings multiple, it would rise 100%.</p><p>Were it to hit the NASDAQ-100’s price/book multiple, it would rise 235%.</p><h2>That’s a significant amount of upside.</h2><p>Now, of course, there’s more to an analysis than just comparative multiples. The U.S. and China are totally different markets, and the NASDAQ could just as easily fall as Alibaba could rise. In fact, I personally think the NASDAQ is likely to fall from today’s levels. However, with the news we got today from the PCAOB, we know that there is a good sign the audit reviews will go well. If they do go well, then we’d expect Alibaba to make some gains. Personally, I’m in the stock until $150 at least.</p><h2>The Bottom Line</h2><p>What a year it has been for Alibaba. We’ve seen plenty of volatility, lots of ups and downs, but ultimately, the stock has out-performed the NASDAQ-100.</p><p>This year, we are seeing many China-related risk factors beginning to wane. There have been no new regulatory upheavals, Zero COVID has basically been ended, and now it looks like the de-listing risk is about to go away too.</p><p>That doesn’t mean that there won’t be plenty of risks in the future. The U.S. and China still disagree about Taiwan, and BABA does face competitive pressure from JD and Pinduoduo. But the most pressing and serious risk factors seem to be fading. That in itself doesn’t make Alibaba a buy, but the idea that China as a whole is “uninvestable” is losing credibility by the day.</p><p>There is a good chance, then, that Alibaba could see some upside just from investors buying China index funds. And if valuation means anything, as I think it does, we should see a day when Alibaba shares are going for $150. Of course, BABA stock will be volatile, but for the enterprising investor, volatility is merely an opportunity.</p><p><i>This article is written by Growth at a Good Price for reference only. Please note the risks.</i></p></body></html>","source":"seekingalpha_fund","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: The Audits Look Increasingly Bullish</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\">\nAlibaba: The Audits Look Increasingly Bullish\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-19 16:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4564794-alibaba-the-audits-look-increasingly-bullish><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryRecently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.The SEC said that it received \"good access\" to the books after \"thorough and systematic ...</p>\n\n<a href=\"https://seekingalpha.com/article/4564794-alibaba-the-audits-look-increasingly-bullish\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4554":"元宇宙及AR概念","BK4531":"中概回港概念","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","BK4558":"双十一","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","LU1046422090.SGD":"Fidelity Pacific A-SGD","BK4524":"宅经济概念","BK4535":"淡马锡持仓","BK4527":"明星科技股","BK4538":"云计算","BK4526":"热门中概股","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","09988":"阿里巴巴-W","BK4579":"人工智能","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","BK4502":"阿里概念","BABA":"阿里巴巴","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","BK4581":"高盛持仓","BK4548":"巴美列捷福持仓","BK4565":"NFT概念","LU1688375341.USD":"贝莱德中国灵活股票基金"},"source_url":"https://seekingalpha.com/article/4564794-alibaba-the-audits-look-increasingly-bullish","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2291016896","content_text":"SummaryRecently, the SEC concluded its audit reviews of Chinese companies earlier than it was expected to do.The SEC said that it received \"good access\" to the books after \"thorough and systematic testing.\"The SEC's comments combined with the speed of its review suggests that at least some of the reviews went well.It's too early to say for sure that Alibaba Group Holding Limited's review, specifically, went well.However, the early signs provide reasons for optimism.Lintao ZhangRecently, the Securities and Exchange Commission (“SEC”) announced that it had concluded its audit review of U.S.-listed Chinese stocks. By all accounts, the review went well. The SEC completed its work ahead of schedule, indicating that the inspections went smoothly. Today, the PCAOB further announced that it had receivedgood access to Chinese companies’ books after “thorough and systematic testing.”We can’t say for sure that the total review went well (there’s more to audits than just \"accessing\" things), but the swift conclusion and glowing comments suggest that the SEC is about to hand investors some good news. So far, it has reviewed BABA and a few other companies’ books–it was these reviews that the glowing comments pertained to. We could yet see some smaller companies getting unfavorable reviews, but the news looks good for investors in Chinese blue chips.The audit review isn’t over yet, as the SEC still has to finish reviewing documents. In addition to issues at facilities, accounting discrepancies can also trigger unfavorable audit opinions. We’ll have to wait and see whether the SEC thinks Chinese firms are doing good audits, but it shouldn’t be more than a few weeks’ wait. The final reports are expected this month.This is all very encouraging news for Alibaba Group Holding Limited (NYSE:BABA) shareholders. Alibaba was one of the companies picked by the SEC to be reviewed first, so the SEC’s report on it should be out pretty soon. We don’t have an exact date on which the report will publish, but we do know that the SEC expects to republish reports by the end of 2022. Given that we’re halfway through December, that means we should be seeing something in a matter of weeks.If any Chinese company is likely to pass the SEC’s audit inspections with flying colors, Alibaba is the one. As an e-commerce company, its business lacks any meaningful tie to state military or intelligence activities. Alibaba Cloud once held some government contracts, but those ended when China shifted to doing cloud services in-house.There is little that Alibaba would need to hide from the U.S. government, so it’s likely to have given the SEC access to all the documents it needs. For this reason, I consider the upcoming audit review publication to be a bullish catalyst for the stock, as we’re seeing solid signs that the result will be a positive one.Alibaba - My Fundamental ThesisAlibaba is a stock I have covered extensively on Seeking Alpha and on Twitter. The basic gist of my thesis on the stock can be found in my past articles on the topic. To review briefly:Alibaba is cheap, with valuation multiples below those of similar-sized U.S. tech stocks.The company is growing, having achieved 68% growth in operating income and 61% growth in free cash flow in its most recent quarter.It also has a strong competitive position; it faces two main competitors in China, JD.com (JD) and Pinduouo (PDD), both of which have different business models than BABA’s own. Neither of these companies competes with Alibaba Cloud, which is China’s Cloud market leader. Alibaba competes with Tencent (OTCPK:TCEHY) in the Cloud and payments.For a big picture overview of my thoughts on Alibaba, you can check out my recent article Alibaba: FOMO is No Reason to Buy, which covers the competitive landscape, valuation, and a few possible catalysts. Basically, the stock has both value and growth characteristics, a strong competitive position, and a number of catalysts on the horizon. I’ll dedicate the remainder of this article to discussing the audit review catalyst in detail.Chinese Company Audit Reviews - The Background StoryThe ongoing SEC reviews of Chinese audit documents are just the latest in a much longer saga concerning the delisting of Chinese stocks from the NYSE. Beginning in the Trump Administration, the U.S. began delisting Chinese companies thought to not be in compliance with U.S. auditing standards. After Trump left office, the Biden administration kept the former President’s policies in place. In fact, the policies accelerated after the new administration came in. In 2022, the SEC added dozens of Chinese companies to the “Holding Foreign Companies Accountable Act” (a list of Chinese companies being considered for delisting). Later, it banned exports of various chip components to China, and demanded that ASML Holding (ASML) stop selling EUV lithography machines to China. The trade tensions between the U.S. and China have been steadily escalating, which is part of why many people think that Chinese stocks will end up getting delisted.There is little doubt in my mind that some Chinese stocks will in fact be delisted. However, Alibaba specifically has a good chance of making the grade, as I’ll show in the next section.Why Alibaba Is A Top Contender For A Favorable Audit ReviewThere are several reasons why Alibaba is a top contender for a favorable audit review by the SEC.The first is the simple fact that China has no incentive to withhold data from foreign investors. The U.S./China audit dispute ultimately comes down to the U.S. wanting more data and China wanting to protect sensitive national security information. When it comes to industries like semiconductors, telecoms and social media, disclosing complete information can sometimes compromise national security. Semiconductors are used in drones, telco data includes peoples’ locations, and social media can be used to gather intelligence. Offering these kinds of companies to full audits by foreign countries can be a national security risk. For example, if you let a foreign country’s auditors inspect a chip maker’s facilities, they could bring trade secrets back home with them. Chinese companies that handle such information may not be able to comply with SEC audit requirements.Alibaba is not such a company. It’s an e-commerce firm, meaning that it helps people buy and sell goods online. It does so through business to consumer (“B2C”) services like AliExpress and Tmall, and business to business (“B2B”) services like Alibaba.com. In neither B2C nor B2B use cases is Alibaba required to store sensitive national security data, so it should be able to offer the SEC reasonable access, both on site and in documents. I don’t think Alibaba’s recent foray into chips detracts from this point, as BABA’s chips are not going to be used in military devices.Why A Favorable Audit Review Is A CatalystThe reason why a favorable audit review would be a bullish catalyst for Alibaba is because the company is currently trading at a discount to fair value, its price being held back by perceived risk factors. The risk factors holding back the stock’s price include U.S./China tensions, COVID Zero, and lingering concerns about 2021’s tech crackdown. Many of the perceived risk factors have been overcome. For example, we haven’t heard about any new regulatory measures since early this year, and China has eased its COVID control policies. A favorable audit review opinion would be just the next catalyst we’d need for another leg up.Alibaba would have significant upside based on nothing other than its valuation converging with that of U.S. big tech companies.At today’s levels, the NASDAQ 100-Index (NDX) trades at:24.5 times earnings.6 times book value.3.6 times sales.By contrast, Alibaba trades at:12.3 times adjusted earnings.1.79 times book value.1.9 times sales.Were Alibaba to hit the NASDAQ-100’s earnings multiple, it would rise 100%.Were it to hit the NASDAQ-100’s price/book multiple, it would rise 235%.That’s a significant amount of upside.Now, of course, there’s more to an analysis than just comparative multiples. The U.S. and China are totally different markets, and the NASDAQ could just as easily fall as Alibaba could rise. In fact, I personally think the NASDAQ is likely to fall from today’s levels. However, with the news we got today from the PCAOB, we know that there is a good sign the audit reviews will go well. If they do go well, then we’d expect Alibaba to make some gains. Personally, I’m in the stock until $150 at least.The Bottom LineWhat a year it has been for Alibaba. We’ve seen plenty of volatility, lots of ups and downs, but ultimately, the stock has out-performed the NASDAQ-100.This year, we are seeing many China-related risk factors beginning to wane. There have been no new regulatory upheavals, Zero COVID has basically been ended, and now it looks like the de-listing risk is about to go away too.That doesn’t mean that there won’t be plenty of risks in the future. The U.S. and China still disagree about Taiwan, and BABA does face competitive pressure from JD and Pinduoduo. But the most pressing and serious risk factors seem to be fading. That in itself doesn’t make Alibaba a buy, but the idea that China as a whole is “uninvestable” is losing credibility by the day.There is a good chance, then, that Alibaba could see some upside just from investors buying China index funds. And if valuation means anything, as I think it does, we should see a day when Alibaba shares are going for $150. Of course, BABA stock will be volatile, but for the enterprising investor, volatility is merely an opportunity.This article is written by Growth at a Good Price for reference only. Please note the risks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9964057474,"gmtCreate":1670039195898,"gmtModify":1676538293983,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9964057474","repostId":"1152464265","repostType":4,"repost":{"id":"1152464265","pubTimestamp":1670022054,"share":"https://ttm.financial/m/news/1152464265?lang=&edition=fundamental","pubTime":"2022-12-03 07:00","market":"us","language":"en","title":"11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall","url":"https://stock-news.laohu8.com/highlight/detail?id=1152464265","media":"Bloomberg","summary":"Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Ha","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/cb8b5a354d9d687bd95cdff74dddc508\" tg-width=\"1214\" tg-height=\"811\" width=\"100%\" height=\"auto\"/></p><p>Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Halloween party are still hanging from a doorway. Two boxes of Legos sit on the floor of one bedroom. And then there are the shoes—dozens of sneakers and heels piled in the foyer, left behind by employees who fled the island of New Providence last month when his cryptocurrency exchangeFTX imploded.</p><p>“It’s been an interesting few weeks,” Bankman-Fried says in a chipper tone as he greets me. It’s a muggy Saturday afternoon, eight days after FTX filed for bankruptcy. He’s shoeless, in white gym socks, a red T-shirt and wrinkled khaki shorts. His standard uniform.</p><p>This isn’t part of the typical tour Bankman-Fried gave to the many reporters who came to tell the tale of the boy-genius-crypto-billionaire who slept on a beanbag chair next to his desk and only got rich so he could give it all away, and it’s easy to see why. The apartment is at the top of one of the luxury condo buildings that border a marina in a gated community called Albany. Outside, deckhands buff the stanchions of a 200-foot yacht owned by a fracking billionaire. A bronze replica of Wall Street’s<i>Charging Bull</i>statue stands on the lawn, which is as manicured as the residents. I feel like I’ve crash-landed on an alien planet populated solely by the very rich and the people who work for them.</p><p>Bankman-Fried leads me down a marble-floored hallway to a small bedroom, where he perches on a plush brown couch. Always known for being jittery, he taps his foot so hard it rattles a coffee table, smacks gum and rubs his index finger with his thumb like he’s twirling an invisible fidget spinner. But he seems almost cheerful as he explains why he’s invited me into his 12,000-square-foot bolthole, against the advice of his lawyers, even as investigators from theUS Department of Justice probewhether he used customers’ funds to prop up his hedge fund, a crime that could send him to prison for years. (Spoiler alert: It sure looks like he did.)</p><p>“What I’m focusing on is what I can do, right now, to try and make things as right as possible,” Bankman-Fried says. “I can’t do that if I’m just focused on covering my ass.”</p><p>But he seems to be doing just that, with me here and all along the apology tour he’ll later embark on, which will include a video appearance at a<i>New York Times</i>conference and an interview on<i>Good Morning America</i>. He’s been trying to blame his firm’s failure on a hazy combination of comically poor bookkeeping, wildly misjudged risks and complete ignorance of what his hedge fund was doing. In other words, an alumnus of both MIT and the elite Wall Street trading firmJane Streetis arguing that he was just dumb with the numbers—not pulling a conscious fraud. Talking in detail to journalists about what’s certain to be the subject of extensive litigation seems like an unusual strategy, but it makes sense: The press helped him create his only-honest-man-in-crypto image, so why not use them to talk his way out of trouble?</p><p><img src=\"https://static.tigerbbs.com/79b2ba9ef6da8454146f200cdc460f6e\" tg-width=\"1000\" tg-height=\"666\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Bankman-Fried after an interview on<i>Bloomberg Wealth With David Rubenstein</i>on Aug. 17, 2022.Photographer: Jeenah Moon/Bloomberg</p><p>He doesn’t say so, but one reason he might be willing to speak with me is that I’m one of the reporters who helped build him up. After spending two days at FTX’s offices in February, I flew past the brightred flagsat his company—its lack of corporate governance, the ties to his Alameda Research hedge fund, its profligate spending on marketing, the fact that it operated largely outside US jurisdiction. Iwrote a storyfocused on whether Bankman-Fried would follow through on his plans to donate huge sums to charity and his connections to an unusual philanthropic movement calledeffective altruism.</p><p>It wasn’t the most embarrassingly puffy of the many puff pieces that came out about him. (“After my interview with SBF, I was convinced: I was talking to a future trillionaire,” one writer said in an article commissioned by a venture capital firm.) But my tone wasn’t entirely dissimilar. “Bankman-Fried is a thought experiment from a college philosophy seminar come to life,” I wrote. “Should someone who wants to save the world first amass as much money and power as possible, or will the pursuit corrupt him along the way?” Now it seems pretty clear that a better question would’ve been whether the business was ascam from the start.</p><p>I tell Bankman-Fried I want to talk about the decisions that led to FTX’s collapse, and why he took them. Earlier in the week, inlate-night DM exchangeswith a<i>Vox</i>reporter and on a phone call with a YouTuber, he made comments that many interpreted as an admission that everything he said was a lie. (“So the ethics stuff, mostly a front?” the<i>Vox</i>reporter asked. “Yeah,” Bankman-Fried replied.) He’d spoken so cynically about his motivations that to many it seemed like a comic book character was pulling off his mask to reveal the villain who’d been hiding there all along.</p><p>I set out on this visit with a different working theory. Maybe I was feeling the tug of my past reporting, but I still didn’t think the talk about charity was all made up. Since he was a teenager, Bankman-Fried has described himself as utilitarian—following the philosophy that the correct action is the one likely to result in the greatest good for the greatest number of people. He said his endgame was making and donating enough money to prevent pandemics and stop runaway artificial intelligence from destroying humanity. Faced with a crisis, and believing he was the hero of his own sci-fi movie, he might’ve thought it was right to make a crazy, even illegal, gamble to save his company.</p><p>To be clear, if that’s what happened, it’s the logic of a megalomaniac, not a martyr. The money wasn’t his to gamble with, and “the ends justify the means” is a cliché of bad ethics. But if it’s what he believed, he might still think he’d made the right decision, even if it didn’t work out. It seemed to me that’s what he meant when he messaged<i>Vox</i>, “The worst quadrant is sketchy + lose. The best is win + ???” I want to probe that, in part because it might get him to talk more candidly about what had happened to his customers’ money.</p><p>I decide to approach the topic gingerly, on terms I think he’ll relate to, as it seems he’s in less of a crime-confess-y mood. He’s said he likes to evaluate decisions in terms of expected value—the odds of success times the likely payoff—so I begin by asking: “Should I judge you by your impact, or by the expected value of your decision?”</p><p>“When all is said and done, what matters is your actual realized impact. Like, that’s what actually matters to the world,” he says. “But, obviously, there’s luck.”</p><p>That’s the in I’m looking for. For the next 11 hours—with breaks for fundraising calls and a very awkward dinner—I try to get him to tell me exactly what he meant. He denies that he’s committed fraud or lied to anyone and blames FTX’s failure on his sloppiness and inattention. But at points it seems like he’s saying he got<i>un</i>lucky, or miscalculated the odds.</p><p>Bankman-Fried tells me he’s still got a chance to raise $8 billion to save his company. He seems delusional, or committed to pretending this is still an error he can fix, and either way, the few supporters remaining at his penthouse seem unlikely to set him straight. The grim scene reminds me a bit of the end of<i>Scarface</i>, with Tony Montana holed up in his mansion, semi-incoherent, his unknown enemies sneaking closer. But instead of mountains of cocaine, Bankman-Fried is clinging to spreadsheet tabs filled with wildly optimistic cryptocurrency valuations.</p><p>Think of FTX like an offshore casino. Customers sent in money, then gambled on the price of hundreds ofcryptocurrencies—not just Bitcoin or Ether, but more obscure coins. In crypto slang, the latter are called shitcoins, because almost no one knows what they’re for. But in the past few years, otherwise respectable people, from retired dentists to heads of state, convinced themselves that these coins werethe future of finance. Or at least that enough other people might think so to make the price go up. Bankman-Fried’s casino was growing so fast that earlier this year some of Silicon Valley’s top venture capitalists invested in it at a $32 billion valuation.</p><p>The problem surfaced last month. After a rival crypto-casino kingpin raised concerns about FTX on Twitter, customers rushed to cash in their chips. But when Bankman-Fried’s casino opened the vault, their money wasn’t there. According to multiple news reports citing people familiar with the matter, it had been secretly lent to Bankman-Fried’s hedge fund, which had lost it in some mix of bad bets, insane spending and perhaps something even sketchier. John Ray III, the lawyer who’s now chief executive officer of the bankrupt exchange, has alleged in court that FTX covered up the loans using secret software.</p><p>Bankman-Fried denies this again to me. Returning to the framework of expected value, I ask him if the decisions he made were correct.</p><p>“I think that I’ve made a lot of plus-EV decisions and a few very large boneheaded decisions,” he says. “Certainly in retrospect, those very large decisions were very bad, and may end up overwhelming everything else.”</p><p>The chain of events, in his telling, started about four years ago. Bankman-Fried was in Hong Kong, where he’d moved from Berkeley, California, with a small group of friends from the effective-altruism community. Together they ran a successful startup crypto hedge fund,Alameda Research. (The name itself was an early example of his casual attitude toward rules—it was chosen to avoid scrutiny from banks, which frequently closed its accounts. “If we named our company like, Shitcoin Daytraders Inc., they’d probably just reject us,” Bankman-Fried told a podcaster in 2021. “But, I mean, no one doesn’t like research.”)</p><p>The fund had made millions of dollars exploiting inefficiencies across cryptocurrency exchanges. (Ex-employees, even those otherwise critical of Bankman-Fried, have said this is true, though some have said Alameda then lost some of that money because of bad trades and mismanagement.) Bankman-Fried and his friends began considering starting their own exchange—what would become FTX.</p><p>The way Bankman-Fried later described this decision reveals his attitude toward risk. He estimated there was an 80% chance the exchange would fail to attract enough customers. But he’s said one should always take a bet, even a long-shot one, if the expected value is positive, calling this stance “risk neutral.” But it actually meant he would take risks that to a normal person sound insane. “As an individual, to make a bet where it’s like, ‘I’m going to gamble my $10 billion and either get $20 billion or $0, with equal probability,’ would be madness,” Rob Wiblin, host of an effective-altruism podcast, said to Bankman-Fried in April. “But from an altruistic point of view, it’s not so crazy.”</p><p>“Completely agree,” Bankman-Fried replied. He told another interviewer that he’d make a bet described as a chance of “51% you double the earth out somewhere else, 49% it all disappears.”</p><p>Bankman-Fried and his friends jump-started FTX by having Alameda provide liquidity. It was a huge conflict of interest. Imagine if the top executives at an online poker site also entered its high-stakes tournaments—the temptation to cheat by peeking at other players’ cards would be huge. But Bankman-Fried assured customers that Alameda would play by the same rules as everyone else, and enough people came to trade that FTX took off. “Having Alameda provide liquidity on FTX early on was the right decision, because I think that helped make FTX a great product for users, even though it obviously ended up backfiring,” Bankman-Fried tells me.</p><p>Part of FTX’s appeal was that it was mostly a derivatives exchange, which allowed customers to trade “on margin,” meaning with borrowed money. That’s a key to his defense. Bankman-Fried argues no one should be surprised that big traders on FTX, including Alameda, were borrowing from the exchange, and that his fund’s position just somehow got out of hand. “Everyone was borrowing and lending,” he says. “That’s been its calling card.” But FTX’s normal margin system, crypto traders tell me, would never have permitted anyone to accumulate a debt that looked like Alameda’s. When I ask if Alameda had to follow the same margin rules as other traders, he admits the fund did not. “There was more leeway,” he says.</p><p>That wouldn’t have been so important had Alameda stuck to its original trading strategy of relatively low-risk arbitrage trades. But in 2020 and 2021, as Bankman-Fried became the face of FTX, amajor political donorand a favorite of Silicon Valley, Alameda faced more competition in that market-making business. It shifted its strategy to, essentially, gambling on shitcoins.</p><p>As Caroline Ellison, then Alameda’s co-CEO, explained in aMarch 2021 post on Twitter: “The way to really make money is figure out when the market is going to go up and get balls long before that,” she wrote, adding that she’d learned the strategy from the classic market-manipulation memoir,<i>Reminiscences of a Stock Operator.</i>Her co-CEO said in another tweet that a profitable strategy was buying Dogecoin becauseElon Musktweeted about it.</p><p>The reason they were bragging about what sounded like a high schooler’s tactics was that it was working better than anyone knew. When we spoke in February 2022, Bankman-Fried told me that Alameda had made $1 billion the previous year. He now says that was Alameda’s arbitrage profits. On top of that, its shitcoins gained tens of billions of dollars of value, at least on paper. “If you mark everything to market, I do believe at one point my net worth got to $100 billion,” Bankman-Fried says.</p><p>Any trader would know this wasn’t nearly as good as it sounded. The large pile of tokens couldn’t be turned into cash without crashing the market. Much of it was even made of tokens that Bankman-Fried and his friends had spun up themselves, such as FTT, Serum or Maps—the official currency of a nonsensical crypto-meets-mapping app—or were closely affiliated with, like Solana. While Bankman-Fried acknowledges the pile was worth something less than $100 billion—maybe he’d mark it down a third, he says—he maintains that he could have extracted quite a lot of real money from his holdings.</p><p>But he didn’t. Instead, Alameda borrowed billions of dollars from other crypto lenders—not FTX—and sunk them into more crypto bets. Publicly, Bankman-Fried presented himself as an ethical operator andcalled for regulationto rein in crypto’s worst excesses. But through his hedge fund, he’d actually become the market’s most degenerate gambler. I ask him why, if he really thought he could sell the tokens, he didn’t. “Why not, like, take some risk off?”</p><p>“OK. In retrospect, absolutely. That would’ve been the right, like, unambiguously the right thing to do,” he says. “But also it was just, like, hilariously well-capitalized.”</p><p>Near the peak of the great shitcoin boom, in April 2022, FTX hosted a lavish conference at a resort and casino in Nassau. It was Bankman-Fried’s coming out party. He got to share the stage with quarterback Tom Brady. Also there: former Prime Minister Tony Blair and ex-President Bill Clinton, who extended a fatherly hand when the young crypto executive seemed nervous. The author Michael Lewis, who’s working on a book about Bankman-Fried, praised him in a fawning interview onstage. “You’re breaking land speed records. And I don’t think people are really noticing what’s happened, just how dramatic the revolution has become,” Lewis said, asking when crypto would take over Wall Street.</p><p>The next month, thecrypto crash began. It started when a popular set of coins called Terra and Luna collapsed, wiping out $60 billion. Terra and Luna were almost openly a Ponzi scheme, but some of the biggest crypto funds had invested in them with borrowed money and went bankrupt. This made the lenders who’d lent billions of dollars to Alameda nervous. They asked Alameda to repay the loans, with real money. It needed billions of dollars, fast, or it would go bust.</p><p>There are two different versions of what happened next. Two people with knowledge of the matter told me that Ellison, by then the sole head of Alameda, had told her side of the story to her staff amid the crisis. Ellison said that she, Bankman-Fried and his two top lieutenants—Gary Wang and Nishad Singh—had discussed the shortfall. Instead of admitting Alameda’s failure, they decided to use FTX customer funds to cover it, according to the people. If that’s true, all four executives would’ve knowingly committed fraud. (Ellison, Wang and Singh didn’t respond to messages seeking comment.)</p><p>When I put this to Bankman-Fried, he screws up his eyes, furrows his eyebrows, puts his hands in his hair and thinks for a few seconds.</p><p>“So, it’s not how I remember what happened,” Bankman-Fried says. But he surprises me by acknowledging that there had been a meeting, post-Luna crash, where they debated what to do about Alameda’s debts. The way he tells it, he was packing for a trip to DC and “only kibitzing on parts of the discussion.” It didn’t seem like a crisis, he says. It was a matter of extending a bit more credit to a fund that already traded on margin and still had a pile of collateral worth way more than enough to cover the loan. (Although the pile of collateral was largely shitcoins.)</p><p>“That was the point at which Alameda’s margin position on FTX got, well, it got more leveraged substantially,” he says. “Obviously, in retrospect, we should’ve just said no. I sort of didn’t realize then how large the position had gotten.”</p><p>“You were all aware there was a chance this would not work,” I say.</p><p>“That’s right,” he says. “But I thought that the risk was substantially smaller.”</p><p>I try to imagine what he could’ve been thinking. If FTX had liquidated Alameda’s position, the fund would’ve gone bankrupt, and even if the exchange didn’t take direct losses, customers would’ve lost confidence in it. Bankman-Fried points out that the companies that lent money to Alameda might have failed, too, causing a hard-to-predict cascade of events.</p><p>“Now let’s say you don’t margin call Alameda,” I posit. “Maybe you think there’s like a 70% chance everything will be OK, it’ll all work out?”</p><p>“Yes, but also in the cases where it didn’t work out, I thought the downside was not nearly as high as it was,” he says. “I thought that there was the risk of a much smaller hole. I thought it was going to be manageable.”</p><p>Bankman-Fried pulls out his laptop (an Acer Predator) and opens a spreadsheet to show what he meant. It’s similar to thebalance sheethe reportedly showed investors when he was seeking a last-minute bailout, which he says consolidated FTX and Alameda’s positions because by then the fund had defaulted on its debt. On one line—labeled “What I *thought*”—he lists $8.9 billion in debts and way more than enough money to pay them: $9 billion in liquid assets, $15.4 billion in “less liquid” assets and $3.2 billion in “illiquid” ones. He tells me this was more or less the position he was considering when he had the meeting with the other executives.</p><p>“It looks naively to me like, you know, there’s still some significant liabilities out there, but, like, we should be able to cover it,” he says.</p><p>“So what’s the problem, then?”</p><p>Bankman-Fried points to another place on the spreadsheet, which he says shows the actual truth of the situation at the time of the meeting. This one shows similar numbers, but with $8 billion less liquid assets.</p><p>“What’s the difference between these two rows here?” he asks.</p><p>“You didn’t have $8 billion in cash that you thought you had,” I say.</p><p>“That’s correct. Yes.”</p><p>“You misplaced $8 billion?” I ask.</p><p>“Misaccounted,” Bankman-Fried says, sounding almost proud of his explanation. Sometimes, he says, customers would wire money to Alameda Research instead of sending it directly to FTX. (Some banks were more willing to work with the hedge fund than the exchange, for some reason.) He claims that somehow, FTX’s internal accounting system double-counted this money, essentially crediting it to both the exchange and the fund.</p><p>That still doesn’t explain why the money was gone. “Where did the $8 billion go?” I ask.</p><p>To answer, Bankman-Fried creates a new tab on the spreadsheet and starts typing. He lists Alameda and FTX’s biggest cash flows. One of the biggest expenses is paying a net $2.5 billion toBinance, a rival, to buy out its investment in FTX. He also lists $250 million for real estate, $1.5 billion for expenses, $4 billion for venture capital investments, $1.5 billion for acquisitions and $1 billion labeled “fuckups.” Even accounting for both firms’ profits, and all the venture capital money raised by FTX, it tallies to negative $6.5 billion.</p><p>Bankman-Fried is telling me that the billions of dollars customers wired to Alameda is gone simply because the companies spent way more than they made. He claims he paid so little attention to his expenses that he didn’t realize he was spending more than he was taking in. “I was real lazy about this mental math,” the former physics major says. He creates another column in his spreadsheet and types in much lower numbers to show what he thought he was spending at the time.</p><p>It seems to me like he is, without saying it exactly, blaming his underlings for FTX’s failure, especially Ellison, the head of Alameda. The two had dated and lived together at times. She was part of Bankman-Fried’s Future Fund, which was supposed to distribute FTX and Alameda’s earnings to effective-altruist-approved causes. It seems unlikely she would’ve blown billions of dollars without asking. “People might take, like, the TLDR as, like, it was my ex-girlfriend’s fault,” I tell him. “That is sort of what you’re saying.”</p><p>“I think the biggest failure was that it wasn’t entirely clear whose fault it was,” he says.</p><p>Bankman-Fried tells me he has to make a call. After a while, the sun goes down and I’m hungry. I’m allowed to join a group of Bankman-Fried’s supporters for dinner, as long as I don’t mention their names.</p><p>With the curtains drawn, the living room looks considerably less grand than it does in pictures. I’ve been told that FTX employees gathered here amid the crisis, while Bankman-Fried worked in another apartment. Addled by stress and sleep deprivation, they wept and hugged one another. Most didn’t say goodbye as they left the island, one by one. Many flew back to their childhood homes to be with their parents.</p><p>The supporters at the dinner tell me they feel like the press has been unfair. They say that Bankman-Fried and his friends weren’t the polyamorous partiers the tabloids have portrayed and that they did little besides work. Earlier in the week, a Bahamian man who’d served as FTX’s round-the-clock chauffeur and gofer also told me the reports weren’t true. “People make it seem like this big<i>Wolf of Wall Street</i>thing,” he said. “Bro, it was a bunch of nerds.”</p><p><img src=\"https://static.tigerbbs.com/b87535c118f069e782e80762398d0a9c\" tg-width=\"1000\" tg-height=\"1000\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Illustration: Maxime Mouysset for Bloomberg Businessweek</p><p>By the time I finish my plate of off-the-record rice and beans, Bankman-Fried is free again. We return to the study. He’s barefoot now, having balled up his gym socks and stuffed them behind a couch cushion. He lies on the couch, his computer on his lap. The light from the screen casts shadows of his curls on his forehead.</p><p>I notice a skin-colored patch on his arm. He tells me it’s a transdermal antidepressant, selegiline. I ask if he’s using it as a performance enhancer or to treat depression. “Nothing’s binary,” he says. “But I’ve been borderline depressed for my whole life.” He adds that he also sometimes takes Adderall—“10 milligrams at a time, a few times a day”—as did some of his colleagues, but that talk of drug use is overblown. “I don’t think that was the problem,” he says.</p><p>I tell Bankman-Fried my theory about his motivation, sidestepping the question of whether he misappropriated customer funds. Bankman-Fried denies that his world-saving goals made him willing to take giant gambles. As we talk more, it seems like he’s saying he made some kind of bet but hadn’t calculated the expected value properly.</p><p>“I was comfortable taking the risk that, like, I may end up kind of falling flat,” he says, staring at his computer screen, where he had pulled up a game and was leading an army of cartoon knights and fairies into battle. “But what actually happened was disastrously bad and, like, no significant chance of that happening would’ve made sense to risk, and that was a fuckup. Like, that was a mass miscalculation in downside.”</p><p>I read Bankman-Fried a post by Will MacAskill, one of the founders of the effective-altruism movement. He recruited Bankman-Fried into it when he was a junior at MIT and this year had joined the board of Bankman-Fried’s Future Fund. On Nov. 11,MacAskill wrote on Twitterthat Bankman-Fried had betrayed him. “For years, the EA community has emphasized the importance of integrity, honesty and the respect of common-sense moral constraints,” MacAskill wrote. “If customer funds were misused, then Sam did not listen; he must have thought he was above such considerations.”</p><p>Bankman-Fried closes his eyes and pushes his toes against one arm of the couch, clenching the other arm with his hands. “That’s not how I view what happened,” he says. “But I did fuck up. I think really what I want to say is, like, I’m really fucking sorry. By far the worst thing about this is that it will tarnish the reputation of people who are dedicated to doing nothing but what they thought was best for the world.” Bankman-Fried trails off. On his computer screen, his army casts spells and swings swords unattended.</p><p>I ask what he’d say to people who are comparing him to the most famous Ponzi schemer of recent times. “Bernie Madoff also said he had good intentions and gave a lot to charity,” I say.</p><p>“FTX was a legitimate, profitable, thriving business. And I fucked up by, like, allowing a margin position to get too big on it. One that endangered the platform. It was a completely unnecessary and unforced error, which like maybe I got super unlucky on, but, like, that was my bad.”</p><p>“It fucking sucks,” he adds. “But it wasn’t inherent to what the business was. It was just a fuckup. A huge fuckup.”</p><p>To me, it doesn’t really seem like a fuckup. Even if I believe that he misplaced and accidentally spent $8 billion, he’s already told me that Alameda had been allowed to violate FTX’s margin rules. This wasn’t some little technical thing. He was so proud of FTX’s margining system that he’d been lobbying regulators for it to be used on US exchanges instead of traditional safeguards. In May, Bankman-Fried himself said on Twitter that exchanges should never extend credit to a fund and put other customers’ assets at risk. He wrote that the idea an exchange would even have that discretion was “scary.” I read him the tweets and ask: “Isn’t that, like, exactly what you did, right around that time?”</p><p>“Yeah, I guess that’s kind of fair,” he says. Then he seems to claim that this was evidence the rules he was lobbying for were a good idea. “I think this is one of the things that would have stopped.”</p><p>“You had a rule on your platform. You didn’t follow it,” I say.</p><p>By now it’s past midnight, and—operating without the benefit of any prescription stimulants—I’m worn out. I ask Bankman-Fried if I can see the apartment’s deck before I leave. Outside, crickets chirp as we stand by the pool. The marina is dark, lit only by the spotlights of yachts. As I say goodbye, Bankman-Fried bites into a burger bun and starts talking about potential bailouts with one of his supporters.</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>11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall</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\">\n11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-03 07:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a ...</p>\n\n<a href=\"https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152464265","content_text":"Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Halloween party are still hanging from a doorway. Two boxes of Legos sit on the floor of one bedroom. And then there are the shoes—dozens of sneakers and heels piled in the foyer, left behind by employees who fled the island of New Providence last month when his cryptocurrency exchangeFTX imploded.“It’s been an interesting few weeks,” Bankman-Fried says in a chipper tone as he greets me. It’s a muggy Saturday afternoon, eight days after FTX filed for bankruptcy. He’s shoeless, in white gym socks, a red T-shirt and wrinkled khaki shorts. His standard uniform.This isn’t part of the typical tour Bankman-Fried gave to the many reporters who came to tell the tale of the boy-genius-crypto-billionaire who slept on a beanbag chair next to his desk and only got rich so he could give it all away, and it’s easy to see why. The apartment is at the top of one of the luxury condo buildings that border a marina in a gated community called Albany. Outside, deckhands buff the stanchions of a 200-foot yacht owned by a fracking billionaire. A bronze replica of Wall Street’sCharging Bullstatue stands on the lawn, which is as manicured as the residents. I feel like I’ve crash-landed on an alien planet populated solely by the very rich and the people who work for them.Bankman-Fried leads me down a marble-floored hallway to a small bedroom, where he perches on a plush brown couch. Always known for being jittery, he taps his foot so hard it rattles a coffee table, smacks gum and rubs his index finger with his thumb like he’s twirling an invisible fidget spinner. But he seems almost cheerful as he explains why he’s invited me into his 12,000-square-foot bolthole, against the advice of his lawyers, even as investigators from theUS Department of Justice probewhether he used customers’ funds to prop up his hedge fund, a crime that could send him to prison for years. (Spoiler alert: It sure looks like he did.)“What I’m focusing on is what I can do, right now, to try and make things as right as possible,” Bankman-Fried says. “I can’t do that if I’m just focused on covering my ass.”But he seems to be doing just that, with me here and all along the apology tour he’ll later embark on, which will include a video appearance at aNew York Timesconference and an interview onGood Morning America. He’s been trying to blame his firm’s failure on a hazy combination of comically poor bookkeeping, wildly misjudged risks and complete ignorance of what his hedge fund was doing. In other words, an alumnus of both MIT and the elite Wall Street trading firmJane Streetis arguing that he was just dumb with the numbers—not pulling a conscious fraud. Talking in detail to journalists about what’s certain to be the subject of extensive litigation seems like an unusual strategy, but it makes sense: The press helped him create his only-honest-man-in-crypto image, so why not use them to talk his way out of trouble?Bankman-Fried after an interview onBloomberg Wealth With David Rubensteinon Aug. 17, 2022.Photographer: Jeenah Moon/BloombergHe doesn’t say so, but one reason he might be willing to speak with me is that I’m one of the reporters who helped build him up. After spending two days at FTX’s offices in February, I flew past the brightred flagsat his company—its lack of corporate governance, the ties to his Alameda Research hedge fund, its profligate spending on marketing, the fact that it operated largely outside US jurisdiction. Iwrote a storyfocused on whether Bankman-Fried would follow through on his plans to donate huge sums to charity and his connections to an unusual philanthropic movement calledeffective altruism.It wasn’t the most embarrassingly puffy of the many puff pieces that came out about him. (“After my interview with SBF, I was convinced: I was talking to a future trillionaire,” one writer said in an article commissioned by a venture capital firm.) But my tone wasn’t entirely dissimilar. “Bankman-Fried is a thought experiment from a college philosophy seminar come to life,” I wrote. “Should someone who wants to save the world first amass as much money and power as possible, or will the pursuit corrupt him along the way?” Now it seems pretty clear that a better question would’ve been whether the business was ascam from the start.I tell Bankman-Fried I want to talk about the decisions that led to FTX’s collapse, and why he took them. Earlier in the week, inlate-night DM exchangeswith aVoxreporter and on a phone call with a YouTuber, he made comments that many interpreted as an admission that everything he said was a lie. (“So the ethics stuff, mostly a front?” theVoxreporter asked. “Yeah,” Bankman-Fried replied.) He’d spoken so cynically about his motivations that to many it seemed like a comic book character was pulling off his mask to reveal the villain who’d been hiding there all along.I set out on this visit with a different working theory. Maybe I was feeling the tug of my past reporting, but I still didn’t think the talk about charity was all made up. Since he was a teenager, Bankman-Fried has described himself as utilitarian—following the philosophy that the correct action is the one likely to result in the greatest good for the greatest number of people. He said his endgame was making and donating enough money to prevent pandemics and stop runaway artificial intelligence from destroying humanity. Faced with a crisis, and believing he was the hero of his own sci-fi movie, he might’ve thought it was right to make a crazy, even illegal, gamble to save his company.To be clear, if that’s what happened, it’s the logic of a megalomaniac, not a martyr. The money wasn’t his to gamble with, and “the ends justify the means” is a cliché of bad ethics. But if it’s what he believed, he might still think he’d made the right decision, even if it didn’t work out. It seemed to me that’s what he meant when he messagedVox, “The worst quadrant is sketchy + lose. The best is win + ???” I want to probe that, in part because it might get him to talk more candidly about what had happened to his customers’ money.I decide to approach the topic gingerly, on terms I think he’ll relate to, as it seems he’s in less of a crime-confess-y mood. He’s said he likes to evaluate decisions in terms of expected value—the odds of success times the likely payoff—so I begin by asking: “Should I judge you by your impact, or by the expected value of your decision?”“When all is said and done, what matters is your actual realized impact. Like, that’s what actually matters to the world,” he says. “But, obviously, there’s luck.”That’s the in I’m looking for. For the next 11 hours—with breaks for fundraising calls and a very awkward dinner—I try to get him to tell me exactly what he meant. He denies that he’s committed fraud or lied to anyone and blames FTX’s failure on his sloppiness and inattention. But at points it seems like he’s saying he gotunlucky, or miscalculated the odds.Bankman-Fried tells me he’s still got a chance to raise $8 billion to save his company. He seems delusional, or committed to pretending this is still an error he can fix, and either way, the few supporters remaining at his penthouse seem unlikely to set him straight. The grim scene reminds me a bit of the end ofScarface, with Tony Montana holed up in his mansion, semi-incoherent, his unknown enemies sneaking closer. But instead of mountains of cocaine, Bankman-Fried is clinging to spreadsheet tabs filled with wildly optimistic cryptocurrency valuations.Think of FTX like an offshore casino. Customers sent in money, then gambled on the price of hundreds ofcryptocurrencies—not just Bitcoin or Ether, but more obscure coins. In crypto slang, the latter are called shitcoins, because almost no one knows what they’re for. But in the past few years, otherwise respectable people, from retired dentists to heads of state, convinced themselves that these coins werethe future of finance. Or at least that enough other people might think so to make the price go up. Bankman-Fried’s casino was growing so fast that earlier this year some of Silicon Valley’s top venture capitalists invested in it at a $32 billion valuation.The problem surfaced last month. After a rival crypto-casino kingpin raised concerns about FTX on Twitter, customers rushed to cash in their chips. But when Bankman-Fried’s casino opened the vault, their money wasn’t there. According to multiple news reports citing people familiar with the matter, it had been secretly lent to Bankman-Fried’s hedge fund, which had lost it in some mix of bad bets, insane spending and perhaps something even sketchier. John Ray III, the lawyer who’s now chief executive officer of the bankrupt exchange, has alleged in court that FTX covered up the loans using secret software.Bankman-Fried denies this again to me. Returning to the framework of expected value, I ask him if the decisions he made were correct.“I think that I’ve made a lot of plus-EV decisions and a few very large boneheaded decisions,” he says. “Certainly in retrospect, those very large decisions were very bad, and may end up overwhelming everything else.”The chain of events, in his telling, started about four years ago. Bankman-Fried was in Hong Kong, where he’d moved from Berkeley, California, with a small group of friends from the effective-altruism community. Together they ran a successful startup crypto hedge fund,Alameda Research. (The name itself was an early example of his casual attitude toward rules—it was chosen to avoid scrutiny from banks, which frequently closed its accounts. “If we named our company like, Shitcoin Daytraders Inc., they’d probably just reject us,” Bankman-Fried told a podcaster in 2021. “But, I mean, no one doesn’t like research.”)The fund had made millions of dollars exploiting inefficiencies across cryptocurrency exchanges. (Ex-employees, even those otherwise critical of Bankman-Fried, have said this is true, though some have said Alameda then lost some of that money because of bad trades and mismanagement.) Bankman-Fried and his friends began considering starting their own exchange—what would become FTX.The way Bankman-Fried later described this decision reveals his attitude toward risk. He estimated there was an 80% chance the exchange would fail to attract enough customers. But he’s said one should always take a bet, even a long-shot one, if the expected value is positive, calling this stance “risk neutral.” But it actually meant he would take risks that to a normal person sound insane. “As an individual, to make a bet where it’s like, ‘I’m going to gamble my $10 billion and either get $20 billion or $0, with equal probability,’ would be madness,” Rob Wiblin, host of an effective-altruism podcast, said to Bankman-Fried in April. “But from an altruistic point of view, it’s not so crazy.”“Completely agree,” Bankman-Fried replied. He told another interviewer that he’d make a bet described as a chance of “51% you double the earth out somewhere else, 49% it all disappears.”Bankman-Fried and his friends jump-started FTX by having Alameda provide liquidity. It was a huge conflict of interest. Imagine if the top executives at an online poker site also entered its high-stakes tournaments—the temptation to cheat by peeking at other players’ cards would be huge. But Bankman-Fried assured customers that Alameda would play by the same rules as everyone else, and enough people came to trade that FTX took off. “Having Alameda provide liquidity on FTX early on was the right decision, because I think that helped make FTX a great product for users, even though it obviously ended up backfiring,” Bankman-Fried tells me.Part of FTX’s appeal was that it was mostly a derivatives exchange, which allowed customers to trade “on margin,” meaning with borrowed money. That’s a key to his defense. Bankman-Fried argues no one should be surprised that big traders on FTX, including Alameda, were borrowing from the exchange, and that his fund’s position just somehow got out of hand. “Everyone was borrowing and lending,” he says. “That’s been its calling card.” But FTX’s normal margin system, crypto traders tell me, would never have permitted anyone to accumulate a debt that looked like Alameda’s. When I ask if Alameda had to follow the same margin rules as other traders, he admits the fund did not. “There was more leeway,” he says.That wouldn’t have been so important had Alameda stuck to its original trading strategy of relatively low-risk arbitrage trades. But in 2020 and 2021, as Bankman-Fried became the face of FTX, amajor political donorand a favorite of Silicon Valley, Alameda faced more competition in that market-making business. It shifted its strategy to, essentially, gambling on shitcoins.As Caroline Ellison, then Alameda’s co-CEO, explained in aMarch 2021 post on Twitter: “The way to really make money is figure out when the market is going to go up and get balls long before that,” she wrote, adding that she’d learned the strategy from the classic market-manipulation memoir,Reminiscences of a Stock Operator.Her co-CEO said in another tweet that a profitable strategy was buying Dogecoin becauseElon Musktweeted about it.The reason they were bragging about what sounded like a high schooler’s tactics was that it was working better than anyone knew. When we spoke in February 2022, Bankman-Fried told me that Alameda had made $1 billion the previous year. He now says that was Alameda’s arbitrage profits. On top of that, its shitcoins gained tens of billions of dollars of value, at least on paper. “If you mark everything to market, I do believe at one point my net worth got to $100 billion,” Bankman-Fried says.Any trader would know this wasn’t nearly as good as it sounded. The large pile of tokens couldn’t be turned into cash without crashing the market. Much of it was even made of tokens that Bankman-Fried and his friends had spun up themselves, such as FTT, Serum or Maps—the official currency of a nonsensical crypto-meets-mapping app—or were closely affiliated with, like Solana. While Bankman-Fried acknowledges the pile was worth something less than $100 billion—maybe he’d mark it down a third, he says—he maintains that he could have extracted quite a lot of real money from his holdings.But he didn’t. Instead, Alameda borrowed billions of dollars from other crypto lenders—not FTX—and sunk them into more crypto bets. Publicly, Bankman-Fried presented himself as an ethical operator andcalled for regulationto rein in crypto’s worst excesses. But through his hedge fund, he’d actually become the market’s most degenerate gambler. I ask him why, if he really thought he could sell the tokens, he didn’t. “Why not, like, take some risk off?”“OK. In retrospect, absolutely. That would’ve been the right, like, unambiguously the right thing to do,” he says. “But also it was just, like, hilariously well-capitalized.”Near the peak of the great shitcoin boom, in April 2022, FTX hosted a lavish conference at a resort and casino in Nassau. It was Bankman-Fried’s coming out party. He got to share the stage with quarterback Tom Brady. Also there: former Prime Minister Tony Blair and ex-President Bill Clinton, who extended a fatherly hand when the young crypto executive seemed nervous. The author Michael Lewis, who’s working on a book about Bankman-Fried, praised him in a fawning interview onstage. “You’re breaking land speed records. And I don’t think people are really noticing what’s happened, just how dramatic the revolution has become,” Lewis said, asking when crypto would take over Wall Street.The next month, thecrypto crash began. It started when a popular set of coins called Terra and Luna collapsed, wiping out $60 billion. Terra and Luna were almost openly a Ponzi scheme, but some of the biggest crypto funds had invested in them with borrowed money and went bankrupt. This made the lenders who’d lent billions of dollars to Alameda nervous. They asked Alameda to repay the loans, with real money. It needed billions of dollars, fast, or it would go bust.There are two different versions of what happened next. Two people with knowledge of the matter told me that Ellison, by then the sole head of Alameda, had told her side of the story to her staff amid the crisis. Ellison said that she, Bankman-Fried and his two top lieutenants—Gary Wang and Nishad Singh—had discussed the shortfall. Instead of admitting Alameda’s failure, they decided to use FTX customer funds to cover it, according to the people. If that’s true, all four executives would’ve knowingly committed fraud. (Ellison, Wang and Singh didn’t respond to messages seeking comment.)When I put this to Bankman-Fried, he screws up his eyes, furrows his eyebrows, puts his hands in his hair and thinks for a few seconds.“So, it’s not how I remember what happened,” Bankman-Fried says. But he surprises me by acknowledging that there had been a meeting, post-Luna crash, where they debated what to do about Alameda’s debts. The way he tells it, he was packing for a trip to DC and “only kibitzing on parts of the discussion.” It didn’t seem like a crisis, he says. It was a matter of extending a bit more credit to a fund that already traded on margin and still had a pile of collateral worth way more than enough to cover the loan. (Although the pile of collateral was largely shitcoins.)“That was the point at which Alameda’s margin position on FTX got, well, it got more leveraged substantially,” he says. “Obviously, in retrospect, we should’ve just said no. I sort of didn’t realize then how large the position had gotten.”“You were all aware there was a chance this would not work,” I say.“That’s right,” he says. “But I thought that the risk was substantially smaller.”I try to imagine what he could’ve been thinking. If FTX had liquidated Alameda’s position, the fund would’ve gone bankrupt, and even if the exchange didn’t take direct losses, customers would’ve lost confidence in it. Bankman-Fried points out that the companies that lent money to Alameda might have failed, too, causing a hard-to-predict cascade of events.“Now let’s say you don’t margin call Alameda,” I posit. “Maybe you think there’s like a 70% chance everything will be OK, it’ll all work out?”“Yes, but also in the cases where it didn’t work out, I thought the downside was not nearly as high as it was,” he says. “I thought that there was the risk of a much smaller hole. I thought it was going to be manageable.”Bankman-Fried pulls out his laptop (an Acer Predator) and opens a spreadsheet to show what he meant. It’s similar to thebalance sheethe reportedly showed investors when he was seeking a last-minute bailout, which he says consolidated FTX and Alameda’s positions because by then the fund had defaulted on its debt. On one line—labeled “What I *thought*”—he lists $8.9 billion in debts and way more than enough money to pay them: $9 billion in liquid assets, $15.4 billion in “less liquid” assets and $3.2 billion in “illiquid” ones. He tells me this was more or less the position he was considering when he had the meeting with the other executives.“It looks naively to me like, you know, there’s still some significant liabilities out there, but, like, we should be able to cover it,” he says.“So what’s the problem, then?”Bankman-Fried points to another place on the spreadsheet, which he says shows the actual truth of the situation at the time of the meeting. This one shows similar numbers, but with $8 billion less liquid assets.“What’s the difference between these two rows here?” he asks.“You didn’t have $8 billion in cash that you thought you had,” I say.“That’s correct. Yes.”“You misplaced $8 billion?” I ask.“Misaccounted,” Bankman-Fried says, sounding almost proud of his explanation. Sometimes, he says, customers would wire money to Alameda Research instead of sending it directly to FTX. (Some banks were more willing to work with the hedge fund than the exchange, for some reason.) He claims that somehow, FTX’s internal accounting system double-counted this money, essentially crediting it to both the exchange and the fund.That still doesn’t explain why the money was gone. “Where did the $8 billion go?” I ask.To answer, Bankman-Fried creates a new tab on the spreadsheet and starts typing. He lists Alameda and FTX’s biggest cash flows. One of the biggest expenses is paying a net $2.5 billion toBinance, a rival, to buy out its investment in FTX. He also lists $250 million for real estate, $1.5 billion for expenses, $4 billion for venture capital investments, $1.5 billion for acquisitions and $1 billion labeled “fuckups.” Even accounting for both firms’ profits, and all the venture capital money raised by FTX, it tallies to negative $6.5 billion.Bankman-Fried is telling me that the billions of dollars customers wired to Alameda is gone simply because the companies spent way more than they made. He claims he paid so little attention to his expenses that he didn’t realize he was spending more than he was taking in. “I was real lazy about this mental math,” the former physics major says. He creates another column in his spreadsheet and types in much lower numbers to show what he thought he was spending at the time.It seems to me like he is, without saying it exactly, blaming his underlings for FTX’s failure, especially Ellison, the head of Alameda. The two had dated and lived together at times. She was part of Bankman-Fried’s Future Fund, which was supposed to distribute FTX and Alameda’s earnings to effective-altruist-approved causes. It seems unlikely she would’ve blown billions of dollars without asking. “People might take, like, the TLDR as, like, it was my ex-girlfriend’s fault,” I tell him. “That is sort of what you’re saying.”“I think the biggest failure was that it wasn’t entirely clear whose fault it was,” he says.Bankman-Fried tells me he has to make a call. After a while, the sun goes down and I’m hungry. I’m allowed to join a group of Bankman-Fried’s supporters for dinner, as long as I don’t mention their names.With the curtains drawn, the living room looks considerably less grand than it does in pictures. I’ve been told that FTX employees gathered here amid the crisis, while Bankman-Fried worked in another apartment. Addled by stress and sleep deprivation, they wept and hugged one another. Most didn’t say goodbye as they left the island, one by one. Many flew back to their childhood homes to be with their parents.The supporters at the dinner tell me they feel like the press has been unfair. They say that Bankman-Fried and his friends weren’t the polyamorous partiers the tabloids have portrayed and that they did little besides work. Earlier in the week, a Bahamian man who’d served as FTX’s round-the-clock chauffeur and gofer also told me the reports weren’t true. “People make it seem like this bigWolf of Wall Streetthing,” he said. “Bro, it was a bunch of nerds.”Illustration: Maxime Mouysset for Bloomberg BusinessweekBy the time I finish my plate of off-the-record rice and beans, Bankman-Fried is free again. We return to the study. He’s barefoot now, having balled up his gym socks and stuffed them behind a couch cushion. He lies on the couch, his computer on his lap. The light from the screen casts shadows of his curls on his forehead.I notice a skin-colored patch on his arm. He tells me it’s a transdermal antidepressant, selegiline. I ask if he’s using it as a performance enhancer or to treat depression. “Nothing’s binary,” he says. “But I’ve been borderline depressed for my whole life.” He adds that he also sometimes takes Adderall—“10 milligrams at a time, a few times a day”—as did some of his colleagues, but that talk of drug use is overblown. “I don’t think that was the problem,” he says.I tell Bankman-Fried my theory about his motivation, sidestepping the question of whether he misappropriated customer funds. Bankman-Fried denies that his world-saving goals made him willing to take giant gambles. As we talk more, it seems like he’s saying he made some kind of bet but hadn’t calculated the expected value properly.“I was comfortable taking the risk that, like, I may end up kind of falling flat,” he says, staring at his computer screen, where he had pulled up a game and was leading an army of cartoon knights and fairies into battle. “But what actually happened was disastrously bad and, like, no significant chance of that happening would’ve made sense to risk, and that was a fuckup. Like, that was a mass miscalculation in downside.”I read Bankman-Fried a post by Will MacAskill, one of the founders of the effective-altruism movement. He recruited Bankman-Fried into it when he was a junior at MIT and this year had joined the board of Bankman-Fried’s Future Fund. On Nov. 11,MacAskill wrote on Twitterthat Bankman-Fried had betrayed him. “For years, the EA community has emphasized the importance of integrity, honesty and the respect of common-sense moral constraints,” MacAskill wrote. “If customer funds were misused, then Sam did not listen; he must have thought he was above such considerations.”Bankman-Fried closes his eyes and pushes his toes against one arm of the couch, clenching the other arm with his hands. “That’s not how I view what happened,” he says. “But I did fuck up. I think really what I want to say is, like, I’m really fucking sorry. By far the worst thing about this is that it will tarnish the reputation of people who are dedicated to doing nothing but what they thought was best for the world.” Bankman-Fried trails off. On his computer screen, his army casts spells and swings swords unattended.I ask what he’d say to people who are comparing him to the most famous Ponzi schemer of recent times. “Bernie Madoff also said he had good intentions and gave a lot to charity,” I say.“FTX was a legitimate, profitable, thriving business. And I fucked up by, like, allowing a margin position to get too big on it. One that endangered the platform. It was a completely unnecessary and unforced error, which like maybe I got super unlucky on, but, like, that was my bad.”“It fucking sucks,” he adds. “But it wasn’t inherent to what the business was. It was just a fuckup. A huge fuckup.”To me, it doesn’t really seem like a fuckup. Even if I believe that he misplaced and accidentally spent $8 billion, he’s already told me that Alameda had been allowed to violate FTX’s margin rules. This wasn’t some little technical thing. He was so proud of FTX’s margining system that he’d been lobbying regulators for it to be used on US exchanges instead of traditional safeguards. In May, Bankman-Fried himself said on Twitter that exchanges should never extend credit to a fund and put other customers’ assets at risk. He wrote that the idea an exchange would even have that discretion was “scary.” I read him the tweets and ask: “Isn’t that, like, exactly what you did, right around that time?”“Yeah, I guess that’s kind of fair,” he says. Then he seems to claim that this was evidence the rules he was lobbying for were a good idea. “I think this is one of the things that would have stopped.”“You had a rule on your platform. You didn’t follow it,” I say.By now it’s past midnight, and—operating without the benefit of any prescription stimulants—I’m worn out. I ask Bankman-Fried if I can see the apartment’s deck before I leave. Outside, crickets chirp as we stand by the pool. The marina is dark, lit only by the spotlights of yachts. As I say goodbye, Bankman-Fried bites into a burger bun and starts talking about potential bailouts with one of his supporters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9937010424,"gmtCreate":1663318720868,"gmtModify":1676537251482,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Iuiii","listText":"Iuiii","text":"Iuiii","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9937010424","repostId":"1190095898","repostType":4,"repost":{"id":"1190095898","pubTimestamp":1663317624,"share":"https://ttm.financial/m/news/1190095898?lang=&edition=fundamental","pubTime":"2022-09-16 16:40","market":"us","language":"en","title":"Uber, FedEx, Texas Instruments And More: U.S. Stocks To Watch","url":"https://stock-news.laohu8.com/highlight/detail?id=1190095898","media":"Benzinga","summary":"With US stock futures trading lower this morning on Friday, some of the stocks that may grab investo","content":"<html><head></head><body><p>With US stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:</p><ul><li><b>Uber</b> slid over 5% in premarket trading, it has shut down internal Slack messaging as it investigates a cybersecurity breach by a hacker claiming to have accessed the company’s data.</li></ul><ul><li><b>FedEx Corp</b> issued preliminary results. The company said it now expects first-quarter revenue of approximately $23.2 billion and first-quarter adjusted earnings to be around $3.44 per share. FedEx has withdrawn its fiscal year 2023 earnings forecast. The company expects business conditions to weaken further in the second quarter. FedEx shares dipped nearly 20% in premarket trading.</li><li><b>Syros Pharmaceuticals, Inc.</b> and <b>Tyme Technologies, Inc.</b> announced stockholder approval of the merger agreement. Syros also announced a 1-for-10 reverse stock split will be effective Sept. 16. </li></ul><ul><li><b>Applied Optoelectronics, Inc.</b> reported the sale of its Chinese manufacturing facilities to Yuhan Optoelectronic Technology for $150 million. </li><li><b>Texas Instruments Incorporated</b> announced plans to increase its quarterly dividend from $1.15 to $1.24 per share. The company’s board also authorized a repurchase of an additional $15 billion of its common stock.</li></ul></body></html>","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>Uber, FedEx, Texas Instruments And More: U.S. Stocks To Watch</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\">\nUber, FedEx, Texas Instruments And More: U.S. Stocks To Watch\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-16 16:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/22/09/28893196/fedex-texas-instruments-and-3-stocks-to-watch-heading-into-friday><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With US stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:Uber slid over 5% in premarket trading, it has shut down internal Slack...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/22/09/28893196/fedex-texas-instruments-and-3-stocks-to-watch-heading-into-friday\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAOI":"Applied Optoelectronics Inc.","UBER":"优步","SYRS":"Syros Pharmaceuticals Inc.","TYME":"Tyme Technologies, Inc.","TXN":"德州仪器","FDX":"联邦快递"},"source_url":"https://www.benzinga.com/news/earnings/22/09/28893196/fedex-texas-instruments-and-3-stocks-to-watch-heading-into-friday","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190095898","content_text":"With US stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:Uber slid over 5% in premarket trading, it has shut down internal Slack messaging as it investigates a cybersecurity breach by a hacker claiming to have accessed the company’s data.FedEx Corp issued preliminary results. The company said it now expects first-quarter revenue of approximately $23.2 billion and first-quarter adjusted earnings to be around $3.44 per share. FedEx has withdrawn its fiscal year 2023 earnings forecast. The company expects business conditions to weaken further in the second quarter. FedEx shares dipped nearly 20% in premarket trading.Syros Pharmaceuticals, Inc. and Tyme Technologies, Inc. announced stockholder approval of the merger agreement. Syros also announced a 1-for-10 reverse stock split will be effective Sept. 16. Applied Optoelectronics, Inc. reported the sale of its Chinese manufacturing facilities to Yuhan Optoelectronic Technology for $150 million. Texas Instruments Incorporated announced plans to increase its quarterly dividend from $1.15 to $1.24 per share. The company’s board also authorized a repurchase of an additional $15 billion of its common stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":33,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9935359023,"gmtCreate":1663035413962,"gmtModify":1676537188262,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9935359023","repostId":"2266325053","repostType":4,"repost":{"id":"2266325053","pubTimestamp":1663035105,"share":"https://ttm.financial/m/news/2266325053?lang=&edition=fundamental","pubTime":"2022-09-13 10:11","market":"us","language":"en","title":"4 Growth Stocks to Buy and Hold Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2266325053","media":"Motley Fool","summary":"Buying when these stocks are low could be the investment move of a lifetime.","content":"<html><head></head><body><p>Who doesn&#39;t love a great growth stock? Consider what a $10,000 investment made in <b>Tesla</b> 10 years ago would be worth today: a cool $1.62 million.</p><p>It&#39;s this potential for explosive returns that leads many to include growth stocks in a balanced portfolio. Because you never know which one might turn out to be the next Tesla.</p><p>So let&#39;s look at a few stocks with serious potential: Perhaps not the potential to match Tesla&#39;s insane 16,000% return over 10 years but still stocks worth owning nonetheless.</p><h2>1. <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a></h2><p>When it comes to growth stocks worth owning and holding forever, <a href=\"https://laohu8.com/S/MSFT\">Microsoft </a> is near the top of my list. The software giant has diversified in recent years, building a thriving cloud services business, expanding its gaming division, and buying business-networking site LinkedIn.</p><p>The company has an astounding 46% return on equity, operating margins of 42%, and nearly $200 billion in revenue over the last 12 months. Those impressive figures more than justify its price-to-earnings (P/E) ratio of 27.4, which is a good deal higher than the <b>S&amp;P 500</b> average of 20.5.</p><p>Microsoft has long earned a premium from the market -- its five-year average P/E is over 35. Smart investors might use the recent market swoon as an opportunity to load up on one of the world&#39;s premier companies -- before its valuation bounces higher.</p><h2>2. <a href=\"https://laohu8.com/S/SPOT\">Spotify</a></h2><p>After years of decline, music industry revenue has surged to its highest level in more than 20 years. The reason? Music streaming companies like <b>Spotify</b>.</p><p><img src=\"https://static.tigerbbs.com/cfba0c37d379e16f6fcabe26efcf82f4\" tg-width=\"1200\" tg-height=\"1200\" referrerpolicy=\"no-referrer\"/></p><p>While physical and digital music sales have continued to wane, audio streaming has exploded over the last seven years and now accounts for over $15 billion of music industry revenue. Moreover, Spotify isn&#39;t satisfied with just delivering great music to its users. The company has invested in podcasts and audiobooks, landing exclusive deals with celebrities as varied as Joe Rogan and Meghan Markle.</p><p>Operationally, the company is firing on all cylinders. In its most recent quarterly report, Spotify announced a 19% year-over-year increase in daily average users (DAUs) to 433 million and a 14% jump in paid subscribers to 188 million. The company is expanding its international user base, and it specifically called out blistering growth among Gen Z users in Latin America. Just as video streaming disrupted traditional TV and movies, streaming has done the same to audio. Smart investors should take note and load up on Spotify shares now.</p><h2>3. <a href=\"https://laohu8.com/S/RBLX\">Roblox</a></h2><p>My third recommendation is <a href=\"https://laohu8.com/S/RBLX\">Roblox</a>. As I&#39;ve noted before, owning Roblox is one way for investors to participate in the growth of Web3. As the internet continues to evolve, more and more individuals will start to own virtual assets: digital currencies, non-fungible tokens, and many other forms of property.</p><p>Roblox, as the operator of an online metaverse-style gaming network, has a first-mover advantage when it comes to Web3. It has some 58.5 million DAUs. In July alone, its users spent more than 4.7 billion hours exploring its platform. This size and scale, along with the brand loyalty and network effect that results from such a large pool of users, means Roblox has a leg up on other companies that want to &#34;own&#34; the metaverse. Yes, I&#39;m looking at you,<b><a href=\"https://laohu8.com/S/META\">Meta Platforms</a></b>.</p><p>While Meta Platforms is spending billions of dollars to develop its own version of the metaverse, Roblox has already captured the hearts and minds of millions of users, many of them under the age of 18. And while this year has seen Roblox stock tumble as it came up against incredibly difficult year-over-year comparisons to its lockdown-fueled 2021, the company continues to steadily grow its user base.</p><p>In time, those users (and their billions of hours spent on the platform) <i>will be monetized</i>. Investors who are willing to ride out this admittedly volatile name should be rewarded for their patience.</p><h2>4. <a href=\"https://laohu8.com/S/ABNB\">Airbnb</a></h2><p>The fourth stock to buy and hold forever is <a href=\"https://laohu8.com/S/ABNB\">Airbnb</a>. If there&#39;s one thing everyone can agree on, it&#39;s this: After the last two years, it seems everyone has needed a vacation this year. And as the world largely rolled back pandemic restrictions and travel picked up, Airbnb was there to provide a place for eager tourists to stay.</p><p>But the company is so much more than just a play on reopening economies. CEO Brian Chesky made waves when he announced in May of this year that, &#34;The office, as we know it, is over.&#34; Chesky seems to be right on the money. Airbnb has reported that close to half of its bookings are for stays of seven days or more, and 19% are for stays of 28 days or more.</p><p>Airbnb is capitalizing on the new work-from-home reality. And it&#39;s bringing a sense of whimsy to travel by offering exotic accommodations like castles, windmills, caves, and treehouses.</p><p>The analyst community is convinced. Wall Street expects Airbnb to record $8.3 billion in revenue this year, a jump of 38% from 2021. For the following year, it expects revenue to surpass $9.5 billion.</p><p>So for investors looking to add growth to their portfolio, Airbnb is a stock worth adding to their wish list.</p></body></html>","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>4 Growth Stocks to Buy and Hold Forever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Growth Stocks to Buy and Hold Forever\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-13 10:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/09/12/4-growth-stocks-to-buy-and-hold-forever/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Who doesn't love a great growth stock? Consider what a $10,000 investment made in Tesla 10 years ago would be worth today: a cool $1.62 million.It's this potential for explosive returns that leads ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/09/12/4-growth-stocks-to-buy-and-hold-forever/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ABNB":"爱彼迎","SPOT":"Spotify Technology S.A.","MSFT":"微软","RBLX":"Roblox Corporation"},"source_url":"https://www.fool.com/investing/2022/09/12/4-growth-stocks-to-buy-and-hold-forever/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2266325053","content_text":"Who doesn't love a great growth stock? Consider what a $10,000 investment made in Tesla 10 years ago would be worth today: a cool $1.62 million.It's this potential for explosive returns that leads many to include growth stocks in a balanced portfolio. Because you never know which one might turn out to be the next Tesla.So let's look at a few stocks with serious potential: Perhaps not the potential to match Tesla's insane 16,000% return over 10 years but still stocks worth owning nonetheless.1. MicrosoftWhen it comes to growth stocks worth owning and holding forever, Microsoft  is near the top of my list. The software giant has diversified in recent years, building a thriving cloud services business, expanding its gaming division, and buying business-networking site LinkedIn.The company has an astounding 46% return on equity, operating margins of 42%, and nearly $200 billion in revenue over the last 12 months. Those impressive figures more than justify its price-to-earnings (P/E) ratio of 27.4, which is a good deal higher than the S&P 500 average of 20.5.Microsoft has long earned a premium from the market -- its five-year average P/E is over 35. Smart investors might use the recent market swoon as an opportunity to load up on one of the world's premier companies -- before its valuation bounces higher.2. SpotifyAfter years of decline, music industry revenue has surged to its highest level in more than 20 years. The reason? Music streaming companies like Spotify.While physical and digital music sales have continued to wane, audio streaming has exploded over the last seven years and now accounts for over $15 billion of music industry revenue. Moreover, Spotify isn't satisfied with just delivering great music to its users. The company has invested in podcasts and audiobooks, landing exclusive deals with celebrities as varied as Joe Rogan and Meghan Markle.Operationally, the company is firing on all cylinders. In its most recent quarterly report, Spotify announced a 19% year-over-year increase in daily average users (DAUs) to 433 million and a 14% jump in paid subscribers to 188 million. The company is expanding its international user base, and it specifically called out blistering growth among Gen Z users in Latin America. Just as video streaming disrupted traditional TV and movies, streaming has done the same to audio. Smart investors should take note and load up on Spotify shares now.3. RobloxMy third recommendation is Roblox. As I've noted before, owning Roblox is one way for investors to participate in the growth of Web3. As the internet continues to evolve, more and more individuals will start to own virtual assets: digital currencies, non-fungible tokens, and many other forms of property.Roblox, as the operator of an online metaverse-style gaming network, has a first-mover advantage when it comes to Web3. It has some 58.5 million DAUs. In July alone, its users spent more than 4.7 billion hours exploring its platform. This size and scale, along with the brand loyalty and network effect that results from such a large pool of users, means Roblox has a leg up on other companies that want to \"own\" the metaverse. Yes, I'm looking at you,Meta Platforms.While Meta Platforms is spending billions of dollars to develop its own version of the metaverse, Roblox has already captured the hearts and minds of millions of users, many of them under the age of 18. And while this year has seen Roblox stock tumble as it came up against incredibly difficult year-over-year comparisons to its lockdown-fueled 2021, the company continues to steadily grow its user base.In time, those users (and their billions of hours spent on the platform) will be monetized. Investors who are willing to ride out this admittedly volatile name should be rewarded for their patience.4. AirbnbThe fourth stock to buy and hold forever is Airbnb. If there's one thing everyone can agree on, it's this: After the last two years, it seems everyone has needed a vacation this year. And as the world largely rolled back pandemic restrictions and travel picked up, Airbnb was there to provide a place for eager tourists to stay.But the company is so much more than just a play on reopening economies. CEO Brian Chesky made waves when he announced in May of this year that, \"The office, as we know it, is over.\" Chesky seems to be right on the money. Airbnb has reported that close to half of its bookings are for stays of seven days or more, and 19% are for stays of 28 days or more.Airbnb is capitalizing on the new work-from-home reality. And it's bringing a sense of whimsy to travel by offering exotic accommodations like castles, windmills, caves, and treehouses.The analyst community is convinced. Wall Street expects Airbnb to record $8.3 billion in revenue this year, a jump of 38% from 2021. For the following year, it expects revenue to surpass $9.5 billion.So for investors looking to add growth to their portfolio, Airbnb is a stock worth adding to their wish list.","news_type":1},"isVote":1,"tweetType":1,"viewCount":161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035781797,"gmtCreate":1647684395440,"gmtModify":1676534258515,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Okk","listText":"Okk","text":"Okk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035781797","repostId":"2220777059","repostType":4,"repost":{"id":"2220777059","pubTimestamp":1647653153,"share":"https://ttm.financial/m/news/2220777059?lang=&edition=fundamental","pubTime":"2022-03-19 09:25","market":"us","language":"en","title":"Sea Limited: The Three-Headed Monster","url":"https://stock-news.laohu8.com/highlight/detail?id=2220777059","media":"seekingalpha","summary":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but B","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Garena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.</li><li>In addition, Shopee&#39;s losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.</li><li>SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea&#39;s second cash cow.</li><li>With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion.</li><li>Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51b3290f2015840c5d8f754c01de8a85\" tg-width=\"750\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/><span>undefined undefined/iStock via Getty Images</span></p><p>I&#39;ve been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I&#39;m doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let&#39;s get started!</p><p><b>Investment Thesis</b></p><p>Sea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company&#39;s slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee&#39;s losses are also getting worse.</p><p>The Group&#39;s cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.</p><p>On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea&#39;s second cash cow.</p><p>Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.</p><p>The three-headed monster is a Buy at these levels.</p><p><b>Value Proposition</b></p><p>Founded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.</p><blockquote><b>Mission</b>: To better the lives of consumers and small businesses with technology.</blockquote><p>Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea&#39;s main value proposition is providing a vertically-integrated experience through its different core businesses.</p><p><b>Garena</b></p><p>Its digital entertainment division, Garena, was Sea&#39;s first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.</p><p>Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena&#39;s Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor <a href=\"https://laohu8.com/S/TWR.AU\">Tower</a>&#39;s findings, Free Fire still holds the most downloads globally as of January 2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fa392753c19f14d60ee0d992e58c3d2f\" tg-width=\"1280\" tg-height=\"741\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>Garena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.</p><p>In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.</p><p><b>Shopee</b></p><p>Perhaps the most exciting business segment is Sea&#39;s mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6649de846b2942b928a3f3e5d4035003\" tg-width=\"640\" tg-height=\"200\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee</span></p><p>Through the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee&#39;s two premium shopping platforms, Shopee Mall and Shopee Premium.</p><p>Along with Shopee&#39;s e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:</p><ul><li><b>Service by Shopee</b> - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.</li><li><b>BuyerProtection</b> - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers&#39; funds in a separate account until delivery is complete, where funds will be released to buyers.</li><li><b>Integrated Logistics Services</b>- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.</li><li><b>Social Features</b> - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).</li><li><b>On-demand Services</b>- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).</li></ul><p>Shopee&#39;s scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee&#39;s most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f9c550b140720336e00cc78e954d184\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p><b>SeaMoney</b></p><p>SeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea&#39;s operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney&#39;s various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.</p><p>Through SeaMoney&#39;s mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a &#34;buy now pay later&#34; payment option, enables consumers to purchase items without accessing credit. For those who are interested, I&#39;ve written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.</p><p>SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c85c862195f86fe9d4f0f8c8beced6b\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SeaBank Website</span></p><p>SeaMoney&#39;s main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea&#39;s other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.</p><p><b>Market Opportunity</b></p><p>Sea&#39;s market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let&#39;s take a look at each industry that Sea operates in.</p><p>First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f72bda6df6bc2b7bdf8756d218f53185\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>According to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021&#39;s total figure. Given Garena&#39;s successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity&#39;s findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.</p><p>Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.</p><p>Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee&#39;s vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fcb903aed7c0ec901fc83c4f25f18b8\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.</p><p>Lastly, we have the fintech industry pertaining to SeaMoney. In my <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea&#39;s markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47ec896a6208b6023ae89f654704bbc7\" tg-width=\"1261\" tg-height=\"706\" referrerpolicy=\"no-referrer\"/><span>Source: Ark Invest Big Ideas 2022</span></p><p>As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney&#39;s other brands will benefit from this trend. Also of important note, SeaMoney&#39;s expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0eb814b800c3121e3fb8cd0913f239d5\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.</p><p><b>Revenue Model</b></p><p>As mentioned previously, Sea operates three main business segments.</p><p><b>Digital Entertainment</b></p><p>Garena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.</p><p>Investors should take note of how revenue is recognized for this segment. According to Sea&#39;s 10-K:</p><blockquote>Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.</blockquote><p>Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.</p><blockquote>Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.</blockquote><p><b>E-commerce</b></p><p>Shopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.</p><p>Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.</p><p><b>Digital Financial Services</b></p><p>SeaMoney revenue consists of:</p><ul><li>Interest and fees from loans granted to commercial customers</li><li>Interest and fees from Sea&#39;s consumer credit business such as SPayLater</li><li>Commissions charged to merchants when a customer pays using SeaMoney&#39;s mobile wallet</li></ul><p><b>Income Statement</b></p><p>Let&#39;s analyze each of the business segments and then look at the entire Group as a whole.</p><p><b>Digital Entertainment</b></p><p>Garena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/998dfbcf3f3dba11b8f8722710c36ba4\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e06de5e6066b66cd5596a445cd912c98\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3&#39;s QAUs of 729 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5bdd570a9eb859a9fef8569c9fad10a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3&#39;s 93 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/092c4a2f47b9336f2753b4548707b39f\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea&#39;s two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f28c9f35ee55afb5c7d170a80d26ebf2\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.</p><p><b>E-Commerce</b></p><p>Shopee GMV continues its upward march as e-commerce continues to gain traction in Shopee&#39;s existing and newer markets. However, we&#39;re also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f657f7cacc9e00bc57df0e913fdb9ae\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>GMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fbc7f044de03ec379f262a5bfcdf331\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27710dc2140a6d139900819f51bd688a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The faster growth in Revenue was due to Shopee&#39;s increasing take rate, which displays Shopee&#39;s ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e4267bc5d33a2153e8624f73ed71540\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Despite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d27cef61bc9a9058233f7eccc5eaa1\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c0d6aa930a81ea4fc153b7134dbf9d3\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>On the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before &#34;allocation of the headquarters’ common expenses&#34; was $(0.15), an improvement from last year&#39;s $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:</p><blockquote>We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.</blockquote><p><b>Digital Financial Services</b></p><p>SeaMoney&#39;s Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4fa5ef6efa513d9040963fda42b4b9f2\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9397aec066366f40ec92c24187347a44\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dcaf6046cf3c27e00b233a8428eb2d75\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Furthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.</p><p>As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney&#39;s AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51f0d5a1800fef748694417e8cb8fc9f\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>This is the segment that investors should pay special attention to, given that it has the potential to be Sea&#39;s second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney&#39;s long-term margin profile.</p><p><b>Group</b></p><p>With that said, let&#39;s take a look at how the business is doing as a whole.</p><p>FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38de60bd773f3ef7afc4b2e28aa1c08f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Here, we can see how Revenue is distributed across the different segments.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a86e59478db8a3a4fdc85897f24410e9\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>What&#39;s encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee&#39;s aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd978ba4047cc6e20ac6086ba8420a8f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Operating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbdbde2c2ae744f36f8168ed32f94d62\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Most of the Operating Expenses were used for Sales &amp; Marketing purposes. Unsurprisingly, Shopee had the highest S&amp;M burn rate. Discounts, cashback, celebrity promotions... they&#39;re everywhere.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5253f186120da17c4cd901e5c442bd1e\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Operating Profit Margins is still negative, although it is trending in the right direction.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a27b7833551107397c44acefc5ad2475\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA, on the other hand, is plunging. This is due to Garena&#39;s falling Bookings and Shoppe&#39;s widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d89fb95f74e23e85f8932870c0190bee\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021&#39;s number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.</p><p>On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena&#39;s estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae5e9399a838e5f841dcccaffbe673d8\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Because Garena is such an important piece of Shopee&#39;s and SeaMoney&#39;s growth story, a deceleration in Garena&#39;s business had investors reacting so negatively to Sea&#39;s latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.</p><p><b>Balance Sheet</b></p><p>Sea&#39;s balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dc30ee494abc2eda3b75434b96e4a66b\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Adjusting for Sea&#39;s debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8d3d0030e6518cc4198245f624cc75e1\" tg-width=\"640\" tg-height=\"437\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>With net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.</p><p><b>Cash Flow Statement</b></p><p>Here is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a0aba061277a1410bb9f3dc176ea0115\" tg-width=\"640\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Unlike other high-flying growth companies, Sea&#39;s Share-Based Compensation expenses are relatively low.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81fa229682c8880d6edd35535ef6a747\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p><b>Competitive Moats</b></p><p>Based on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.</p><p><b>Brand</b></p><p>As discussed in previous sections, Garena&#39;s games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.</p><p><b>Network Effects</b></p><p>The sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world&#39;s population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.</p><p>With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c641ac08707cc868b9e6004e2deaf950\" tg-width=\"1200\" tg-height=\"600\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee Brazil</span></p><p><b>Barriers To Entry</b></p><p>I believe each of Sea&#39;s core businesses is operating in a winner-takes-most environment with high barriers to entry.</p><p>The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena&#39;s Free Fire is certainly a blockbuster game and time in Free Fire&#39;s game means time away from other mobile games.</p><p>Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and <a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.</p><p>Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.</p><p><b>Valuation</b></p><p>Based on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f2400cd917e5f6ce8c47ef74a8062093\" tg-width=\"640\" tg-height=\"353\" referrerpolicy=\"no-referrer\"/><span>Source: Author&#39;s Analysis</span></p><p>On the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bed1fd805a89523bbb8fa982bee40079\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>In terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf589a808c84131e9c36aa7b65a5129\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>The valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.</p><p><b>Catalysts</b></p><ul><li><b>Successful International Expansion</b> — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee&#39;s growth could turn exponential.</li><li><b>The Metaverse</b> — Sea&#39;s withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.</li></ul><blockquote>We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.</blockquote><ul><li><b>Regional SuperApp</b> — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.</li><li><b>Continued Growth In SeaMoney</b> — SeaMoney is still in its early stages and continued adoption of Sea&#39;s digital financial services offerings will be a strong addition to Sea&#39;s bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.</li><li><b>Free Fire India Ban Lift</b>— Garena&#39;s weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea&#39;s cash burn problems may be eliminated.</li></ul><p><b>Risks</b></p><ul><li><b>The Pressure to Launch Blockbuster Games</b>— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.</li><li><b>Shopee India Ban</b> — With Free Fire banned in India, there&#39;s also the potential for Shoppe to be banned as well.</li><li><b>Failure to Gain Traction in International Markets</b>— Shopee pulled out of France in early March, an indication that Shoppe&#39;s business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.</li><li><b>Geopolitical Risks</b>— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.</li><li><b>Local Competition</b>— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.</li></ul><p>In addition, there&#39;s a certain level of pride for consumers to see their native-born companies succeed. I&#39;m Indonesian, and it makes me really happy to see GoTo grow and grow.</p><p>GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here&#39;s a glance of GoTo&#39;s stats for the 12-months ended 30 September 2021:</p><ul><li>Valuation: $26.2 billion to $28.8 billion</li><li>GMV: $28.8 billion</li><li>Revenue: $1 billion</li><li>Gross Orders: 2 billion</li><li>Annual Transacting Users: 55 million</li><li>Driver Partners: 2.5 million</li><li>Merchants: 14 million</li></ul><p>The point is that there are big-time local players operating in Sea&#39;s markets that investors should never ignore. Here&#39;s a little snippet from my previous Shopee article:</p><blockquote>But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.</blockquote><blockquote>Meanwhile, Sea Limited&#39;s stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo&#39;s integration, Shopee&#39;s vertically-integrated business model doesn&#39;t look like a strong competitive advantage anymore.</blockquote><p><b>Conclusion</b></p><p>Each of Sea&#39;s core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.</p><p>That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company&#39;s unsustainable cash burn rate, which will likely lead to further capital raises in the near future.</p><p>Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.</p><p>Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don&#39;t hesitate to share your thoughts as well.</p></body></html>","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>Sea Limited: The Three-Headed Monster</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\">\nSea Limited: The Three-Headed Monster\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-19 09:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, ...</p>\n\n<a href=\"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220777059","content_text":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea's second cash cow.With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion.Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.undefined undefined/iStock via Getty ImagesI've been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I'm doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let's get started!Investment ThesisSea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company's slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee's losses are also getting worse.The Group's cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea's second cash cow.Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.The three-headed monster is a Buy at these levels.Value PropositionFounded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.Mission: To better the lives of consumers and small businesses with technology.Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea's main value proposition is providing a vertically-integrated experience through its different core businesses.GarenaIts digital entertainment division, Garena, was Sea's first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena's Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor Tower's findings, Free Fire still holds the most downloads globally as of January 2022.Source: SensorTowerGarena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.ShopeePerhaps the most exciting business segment is Sea's mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.Source: ShopeeThrough the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee's two premium shopping platforms, Shopee Mall and Shopee Premium.Along with Shopee's e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:Service by Shopee - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.BuyerProtection - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers' funds in a separate account until delivery is complete, where funds will be released to buyers.Integrated Logistics Services- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.Social Features - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).On-demand Services- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).Shopee's scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee's most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.Source: SensorTowerSeaMoneySeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea's operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney's various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.Through SeaMoney's mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a \"buy now pay later\" payment option, enables consumers to purchase items without accessing credit. For those who are interested, I've written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.Source: SeaBank WebsiteSeaMoney's main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea's other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.Market OpportunitySea's market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let's take a look at each industry that Sea operates in.First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.Source: SensorTowerAccording to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021's total figure. Given Garena's successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity's findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee's vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.Source: e-Conomy SEA 2021Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.Lastly, we have the fintech industry pertaining to SeaMoney. In my PayPal (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea's markets.Source: Ark Invest Big Ideas 2022As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney's other brands will benefit from this trend. Also of important note, SeaMoney's expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.Source: e-Conomy SEA 2021As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.Revenue ModelAs mentioned previously, Sea operates three main business segments.Digital EntertainmentGarena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.Investors should take note of how revenue is recognized for this segment. According to Sea's 10-K:Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.E-commerceShopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.Digital Financial ServicesSeaMoney revenue consists of:Interest and fees from loans granted to commercial customersInterest and fees from Sea's consumer credit business such as SPayLaterCommissions charged to merchants when a customer pays using SeaMoney's mobile walletIncome StatementLet's analyze each of the business segments and then look at the entire Group as a whole.Digital EntertainmentGarena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.Source: Sea Limited Investor Relations and Author's AnalysisThe rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.Source: Sea Limited Investor Relations and Author's AnalysisThe drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3's QAUs of 729 million.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3's 93 million.Source: Sea Limited Investor Relations and Author's AnalysisThe markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea's two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.Source: Sea Limited Investor Relations and Author's AnalysisAs such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.E-CommerceShopee GMV continues its upward march as e-commerce continues to gain traction in Shopee's existing and newer markets. However, we're also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.Source: Sea Limited Investor Relations and Author's AnalysisGMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.Source: Sea Limited Investor Relations and Author's AnalysisThe increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.Source: Sea Limited Investor Relations and Author's AnalysisThe faster growth in Revenue was due to Shopee's increasing take rate, which displays Shopee's ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.Source: Sea Limited Investor Relations and Author's AnalysisDespite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).Source: Sea Limited Investor Relations and Author's AnalysisOn the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before \"allocation of the headquarters’ common expenses\" was $(0.15), an improvement from last year's $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.Digital Financial ServicesSeaMoney's Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.Source: Sea Limited Investor Relations and Author's AnalysisThe growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.Source: Sea Limited Investor Relations and Author's AnalysisThe real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.Source: Sea Limited Investor Relations and Author's AnalysisFurthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney's AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.Source: Sea Limited Investor Relations and Author's AnalysisThis is the segment that investors should pay special attention to, given that it has the potential to be Sea's second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney's long-term margin profile.GroupWith that said, let's take a look at how the business is doing as a whole.FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.Source: Sea Limited Investor Relations and Author's AnalysisHere, we can see how Revenue is distributed across the different segments.Source: Sea Limited Investor Relations and Author's AnalysisWhat's encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee's aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.Source: Sea Limited Investor Relations and Author's AnalysisOperating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.Source: Sea Limited Investor Relations and Author's AnalysisMost of the Operating Expenses were used for Sales & Marketing purposes. Unsurprisingly, Shopee had the highest S&M burn rate. Discounts, cashback, celebrity promotions... they're everywhere.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Operating Profit Margins is still negative, although it is trending in the right direction.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA, on the other hand, is plunging. This is due to Garena's falling Bookings and Shoppe's widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.Source: Sea Limited Investor Relations and Author's AnalysisThe guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021's number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena's estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.Source: Sea Limited FY2021 Q4 Investor PresentationBecause Garena is such an important piece of Shopee's and SeaMoney's growth story, a deceleration in Garena's business had investors reacting so negatively to Sea's latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.Balance SheetSea's balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.Source: Sea Limited FY2021 Q4 Investor PresentationAdjusting for Sea's debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.Source: Sea Limited Investor Relations and Author's AnalysisWith net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.Cash Flow StatementHere is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.Source: Sea Limited Investor Relations and Author's AnalysisUnlike other high-flying growth companies, Sea's Share-Based Compensation expenses are relatively low.Source: Sea Limited Investor Relations and Author's AnalysisCompetitive MoatsBased on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.BrandAs discussed in previous sections, Garena's games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.Network EffectsThe sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world's population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.Source: Shopee BrazilBarriers To EntryI believe each of Sea's core businesses is operating in a winner-takes-most environment with high barriers to entry.The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena's Free Fire is certainly a blockbuster game and time in Free Fire's game means time away from other mobile games.Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and MercadoLibre (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.ValuationBased on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.Source: Author's AnalysisOn the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.Source: KoyfinIn terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.Source: KoyfinThe valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.CatalystsSuccessful International Expansion — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee's growth could turn exponential.The Metaverse — Sea's withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.Regional SuperApp — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.Continued Growth In SeaMoney — SeaMoney is still in its early stages and continued adoption of Sea's digital financial services offerings will be a strong addition to Sea's bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.Free Fire India Ban Lift— Garena's weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea's cash burn problems may be eliminated.RisksThe Pressure to Launch Blockbuster Games— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.Shopee India Ban — With Free Fire banned in India, there's also the potential for Shoppe to be banned as well.Failure to Gain Traction in International Markets— Shopee pulled out of France in early March, an indication that Shoppe's business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.Geopolitical Risks— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.Local Competition— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.In addition, there's a certain level of pride for consumers to see their native-born companies succeed. I'm Indonesian, and it makes me really happy to see GoTo grow and grow.GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here's a glance of GoTo's stats for the 12-months ended 30 September 2021:Valuation: $26.2 billion to $28.8 billionGMV: $28.8 billionRevenue: $1 billionGross Orders: 2 billionAnnual Transacting Users: 55 millionDriver Partners: 2.5 millionMerchants: 14 millionThe point is that there are big-time local players operating in Sea's markets that investors should never ignore. Here's a little snippet from my previous Shopee article:But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.Meanwhile, Sea Limited's stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo's integration, Shopee's vertically-integrated business model doesn't look like a strong competitive advantage anymore.ConclusionEach of Sea's core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company's unsustainable cash burn rate, which will likely lead to further capital raises in the near future.Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don't hesitate to share your thoughts as well.","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882790000,"gmtCreate":1631718421200,"gmtModify":1676530618086,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Nnnnnnnbbn","listText":"Nnnnnnnbbn","text":"Nnnnnnnbbn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882790000","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","pubTimestamp":1631660884,"share":"https://ttm.financial/m/news/1148341685?lang=&edition=fundamental","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p>\n<p>Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p>\n<p>So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p>\n<p>“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p>\n<p>The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p>\n<p>“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p>\n<p>The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p>\n<p>U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p>\n<p>The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p>\n<p>The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p>\n<p>All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p>\n<p>Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p>\n<p>Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p>\n<p>CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p>\n<p>Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks close lower on worries over recovery, corporate tax hikes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-15 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839495471,"gmtCreate":1629171538093,"gmtModify":1676529953162,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Yyhhjjjjjjkkkkkkkkkkk","listText":"Yyhhjjjjjjkkkkkkkkkkk","text":"Yyhhjjjjjjkkkkkkkkkkk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/839495471","repostId":"2160854275","repostType":4,"repost":{"id":"2160854275","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1629171148,"share":"https://ttm.financial/m/news/2160854275?lang=&edition=fundamental","pubTime":"2021-08-17 11:32","market":"us","language":"en","title":"How Can Amazon, Microsoft, Netflix, Spotify Gain From New Big Tech Bill?","url":"https://stock-news.laohu8.com/highlight/detail?id=2160854275","media":"Benzinga","summary":"Last Wednesday, a bipartisan group of Senators launched a bill to rein the growing mobile operating ","content":"<p><img src=\"https://static.tigerbbs.com/1e06ed07d3863d7cffd4df0ba07f1776\" tg-width=\"600\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<ul>\n <li>Last Wednesday, a bipartisan group of Senators launched a bill to rein the growing mobile operating system dominance of&nbsp;<b>Apple Inc</b>&nbsp;(NASDAQ: AAPL) and&nbsp;<b>Alphabet Inc</b>&nbsp;(NASDAQ: GOOG) (NASDAQ: GOOGL) Google.</li>\n <li>The&nbsp;Open App Markets Act&nbsp;threatens the iPhone maker's $22 billion in annual high-margin revenue it makes from the App store. Apple has protested against the bill citing user security and privacy concerns, Bloomberg reported</li>\n <li><b>Spotify Technology SA</b>&nbsp;(NYSE: SPOT), Tile Inc, and&nbsp;<b>Match Group Inc</b>&nbsp;(NASDAQ: MTCH) had&nbsp;previously alleged&nbsp;that Apple and Google's app stores are barriers to competition, especially their commissions on mobile device transactions. Epic Games&nbsp;too leveled similar&nbsp;allegations and is seeking its payment system for in-app purchases in its games.</li>\n <li>The bill can have far-reaching consequences if it becomes the law. An iPhone owner would be able to download another app store to bypass Apple's or install apps and its approval process.</li>\n <li>App makers like&nbsp;<b>Amazon.com Inc</b>&nbsp;(NASDAQ: AMZN),&nbsp;<b>Netflix Inc</b>&nbsp;(NASDAQ: NFLX), and Spotify can direct customers to their websites to sign up for subscriptions, dodging Apple's commissions.</li>\n <li>Bloomberg notes that the law could be a boon for Amazon as it owns an app store and Spotify too, which itself has been blamed for unfair competition and shoddy treatment of artists.</li>\n <li><b>Microsoft Corp</b>&nbsp;(NASDAQ: MSFT) can also defend its Xbox gaming service from the bill's provisions by projecting it as an entertainment console instead of a computing platform.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Can Amazon, Microsoft, Netflix, Spotify Gain From New Big Tech Bill?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow Can Amazon, Microsoft, Netflix, Spotify Gain From New Big Tech Bill?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-08-17 11:32</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/1e06ed07d3863d7cffd4df0ba07f1776\" tg-width=\"600\" tg-height=\"400\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<ul>\n <li>Last Wednesday, a bipartisan group of Senators launched a bill to rein the growing mobile operating system dominance of&nbsp;<b>Apple Inc</b>&nbsp;(NASDAQ: AAPL) and&nbsp;<b>Alphabet Inc</b>&nbsp;(NASDAQ: GOOG) (NASDAQ: GOOGL) Google.</li>\n <li>The&nbsp;Open App Markets Act&nbsp;threatens the iPhone maker's $22 billion in annual high-margin revenue it makes from the App store. Apple has protested against the bill citing user security and privacy concerns, Bloomberg reported</li>\n <li><b>Spotify Technology SA</b>&nbsp;(NYSE: SPOT), Tile Inc, and&nbsp;<b>Match Group Inc</b>&nbsp;(NASDAQ: MTCH) had&nbsp;previously alleged&nbsp;that Apple and Google's app stores are barriers to competition, especially their commissions on mobile device transactions. Epic Games&nbsp;too leveled similar&nbsp;allegations and is seeking its payment system for in-app purchases in its games.</li>\n <li>The bill can have far-reaching consequences if it becomes the law. An iPhone owner would be able to download another app store to bypass Apple's or install apps and its approval process.</li>\n <li>App makers like&nbsp;<b>Amazon.com Inc</b>&nbsp;(NASDAQ: AMZN),&nbsp;<b>Netflix Inc</b>&nbsp;(NASDAQ: NFLX), and Spotify can direct customers to their websites to sign up for subscriptions, dodging Apple's commissions.</li>\n <li>Bloomberg notes that the law could be a boon for Amazon as it owns an app store and Spotify too, which itself has been blamed for unfair competition and shoddy treatment of artists.</li>\n <li><b>Microsoft Corp</b>&nbsp;(NASDAQ: MSFT) can also defend its Xbox gaming service from the bill's provisions by projecting it as an entertainment console instead of a computing platform.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPOT":"Spotify Technology S.A.","GOOGL":"谷歌A","AMZN":"亚马逊","NGD":"New Gold","NFLX":"奈飞","MSFT":"微软","GOOG":"谷歌","AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160854275","content_text":"Last Wednesday, a bipartisan group of Senators launched a bill to rein the growing mobile operating system dominance of Apple Inc (NASDAQ: AAPL) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google.\nThe Open App Markets Act threatens the iPhone maker's $22 billion in annual high-margin revenue it makes from the App store. Apple has protested against the bill citing user security and privacy concerns, Bloomberg reported\nSpotify Technology SA (NYSE: SPOT), Tile Inc, and Match Group Inc (NASDAQ: MTCH) had previously alleged that Apple and Google's app stores are barriers to competition, especially their commissions on mobile device transactions. Epic Games too leveled similar allegations and is seeking its payment system for in-app purchases in its games.\nThe bill can have far-reaching consequences if it becomes the law. An iPhone owner would be able to download another app store to bypass Apple's or install apps and its approval process.\nApp makers like Amazon.com Inc (NASDAQ: AMZN), Netflix Inc (NASDAQ: NFLX), and Spotify can direct customers to their websites to sign up for subscriptions, dodging Apple's commissions.\nBloomberg notes that the law could be a boon for Amazon as it owns an app store and Spotify too, which itself has been blamed for unfair competition and shoddy treatment of artists.\nMicrosoft Corp (NASDAQ: MSFT) can also defend its Xbox gaming service from the bill's provisions by projecting it as an entertainment console instead of a computing platform.","news_type":1},"isVote":1,"tweetType":1,"viewCount":33,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9917834712,"gmtCreate":1665467745736,"gmtModify":1676537611997,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"Iii","listText":"Iii","text":"Iii","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9917834712","repostId":"2274402596","repostType":4,"repost":{"id":"2274402596","pubTimestamp":1665439233,"share":"https://ttm.financial/m/news/2274402596?lang=&edition=fundamental","pubTime":"2022-10-11 06:00","market":"us","language":"en","title":"These Stock-Market Sectors Tend to Do Best Before the Fed Delivers a Final Rate Hike, Says RBC","url":"https://stock-news.laohu8.com/highlight/detail?id=2274402596","media":"MarketWatch","summary":"Defensive sectors tend to perform the best before final rate hikes, along with energy and financials","content":"<html><head></head><body><p>Defensive sectors tend to perform the best before final rate hikes, along with energy and financials, says RBC Capital Markets</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3714c6b347b02a7ac1af6b7d06e177d\" tg-width=\"700\" tg-height=\"525\" referrerpolicy=\"no-referrer\"/><span>GETTY IMAGES/ISTOCKPHOTO</span></p><p>While hopes for a pivot by Federal Reserve policy makers away from aggressive rate increases appeared to once again be a mirage, investors remain eager to know which stock-market sectors tend to perform best in the period leading up to the final increase of a rate-hike cycle, according to a top strategist at RBC Capital Markets.</p><p>Stocks in classic defensive sectors such as consumer staples, healthcare, and utilities, tend to outperform ahead of the final rate hikes, along with energy and financials, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Monday note.</p><p>All five of these areas have outperformed the S&amp;P 500  in 2022 on a year to date basis. They tended to perform the best within the major index in the six, three and one month periods before the final hikes in the past four Fed tightening cycles (see chart below), Calvasina wrote.</p><p>&#34;However, consumer staples and utilities have faded recently with utilities lagging over the past month and staples underperforming since late September,&#34; she said. &#34;Healthcare has been the strongest performer of late among the classic defensives over the past month, lagging only energy whose performance has far outstripped the benchmark. Financials has also outperformed a bit.&#34;</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fbcc13eabcf3a7955e41ecdd645d09\" tg-width=\"700\" tg-height=\"365\" referrerpolicy=\"no-referrer\"/><span>SOURCE: RBC US EQUITY STRATEGY, BLOOMBERG</span></p><p>The S&amp;P 500 is down 24.2% year to date, according to Dow Jones Market Data. Except the energy sector, which had jumped 45.8% year over year, all other sectors are trading deep in the red so far in 2022.</p><p>Stocks in consumer staples and utilities have been &#34;extremely expensive&#34; based on RBC&#39;s valuation, with their median price-earnings ratio close to historical peaks relative to the S&amp;P 500 earlier this year. Meanwhile, healthcare has been the only defensive sector that is &#34;reasonably valued&#34; on their valuation model, and as of Friday&#39;s close, energy and financials sectors looked &#34;deeply undervalued,&#34; according to Calvasina.</p><p>&#34;To the extent that the narrative in the equity community swings back towards the idea that an end to the hiking cycle can be expected in the not so distant future, we think energy and financials are the most interesting ways to position for that idea,&#34; said Calvasina.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb77d2a14baf79524be0a1977b4dfe60\" tg-width=\"700\" tg-height=\"704\" referrerpolicy=\"no-referrer\"/><span>SOURCE: RBC US EQUITY STRATEGY, BLOOMBERG</span></p><p>Despite the recent turmoil in the large-cap equity market, small-caps remain stable in terms of performance. Calvasina pointed out the stability in small-cap performance has been present since January and they are still in a narrow trading range in comparison to large-caps.</p><p>&#34;While this doesn&#39;t necessarily tell us that a bottom in the broader U.S. equity market is imminent, it does tell us that the equity market is behaving rationally,&#34; said Calvasina. &#34;It has been our view for quite some time that small-caps, which underperformed large-cap dramatically in 2021, have already been de-risked and are baking in a recession.&#34;</p><p>The U.S. stock indexes extended losses on Monday as investors still digested September jobs data while eagerly await key earnings, Fed minutes and inflation reports this week. The S&amp;P 500 finished 0.7% lower, while the Dow Jones Industrial Average  declined 0.3%. The Nasdaq Composite  closed at the lowest level in over two years, dragged down by a slump in semiconductor stocks.</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These Stock-Market Sectors Tend to Do Best Before the Fed Delivers a Final Rate Hike, Says RBC</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\">\nThese Stock-Market Sectors Tend to Do Best Before the Fed Delivers a Final Rate Hike, Says RBC\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-11 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/these-stock-market-sectors-tend-to-do-best-before-the-fed-delivers-a-final-rate-hike-says-rbc-11665427115?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Defensive sectors tend to perform the best before final rate hikes, along with energy and financials, says RBC Capital MarketsGETTY IMAGES/ISTOCKPHOTOWhile hopes for a pivot by Federal Reserve policy ...</p>\n\n<a href=\"https://www.marketwatch.com/story/these-stock-market-sectors-tend-to-do-best-before-the-fed-delivers-a-final-rate-hike-says-rbc-11665427115?mod=home-page\">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",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/these-stock-market-sectors-tend-to-do-best-before-the-fed-delivers-a-final-rate-hike-says-rbc-11665427115?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2274402596","content_text":"Defensive sectors tend to perform the best before final rate hikes, along with energy and financials, says RBC Capital MarketsGETTY IMAGES/ISTOCKPHOTOWhile hopes for a pivot by Federal Reserve policy makers away from aggressive rate increases appeared to once again be a mirage, investors remain eager to know which stock-market sectors tend to perform best in the period leading up to the final increase of a rate-hike cycle, according to a top strategist at RBC Capital Markets.Stocks in classic defensive sectors such as consumer staples, healthcare, and utilities, tend to outperform ahead of the final rate hikes, along with energy and financials, said Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, in a Monday note.All five of these areas have outperformed the S&P 500  in 2022 on a year to date basis. They tended to perform the best within the major index in the six, three and one month periods before the final hikes in the past four Fed tightening cycles (see chart below), Calvasina wrote.\"However, consumer staples and utilities have faded recently with utilities lagging over the past month and staples underperforming since late September,\" she said. \"Healthcare has been the strongest performer of late among the classic defensives over the past month, lagging only energy whose performance has far outstripped the benchmark. Financials has also outperformed a bit.\"SOURCE: RBC US EQUITY STRATEGY, BLOOMBERGThe S&P 500 is down 24.2% year to date, according to Dow Jones Market Data. Except the energy sector, which had jumped 45.8% year over year, all other sectors are trading deep in the red so far in 2022.Stocks in consumer staples and utilities have been \"extremely expensive\" based on RBC's valuation, with their median price-earnings ratio close to historical peaks relative to the S&P 500 earlier this year. Meanwhile, healthcare has been the only defensive sector that is \"reasonably valued\" on their valuation model, and as of Friday's close, energy and financials sectors looked \"deeply undervalued,\" according to Calvasina.\"To the extent that the narrative in the equity community swings back towards the idea that an end to the hiking cycle can be expected in the not so distant future, we think energy and financials are the most interesting ways to position for that idea,\" said Calvasina.SOURCE: RBC US EQUITY STRATEGY, BLOOMBERGDespite the recent turmoil in the large-cap equity market, small-caps remain stable in terms of performance. Calvasina pointed out the stability in small-cap performance has been present since January and they are still in a narrow trading range in comparison to large-caps.\"While this doesn't necessarily tell us that a bottom in the broader U.S. equity market is imminent, it does tell us that the equity market is behaving rationally,\" said Calvasina. \"It has been our view for quite some time that small-caps, which underperformed large-cap dramatically in 2021, have already been de-risked and are baking in a recession.\"The U.S. stock indexes extended losses on Monday as investors still digested September jobs data while eagerly await key earnings, Fed minutes and inflation reports this week. The S&P 500 finished 0.7% lower, while the Dow Jones Industrial Average  declined 0.3%. The Nasdaq Composite  closed at the lowest level in over two years, dragged down by a slump in semiconductor stocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":54,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9919453491,"gmtCreate":1663851706513,"gmtModify":1676537349314,"author":{"id":"3586558475553764","authorId":"3586558475553764","name":"Christoooo","avatar":"https://static.tigerbbs.com/91b62810815621977e2e6cc6da25ff49","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586558475553764","authorIdStr":"3586558475553764"},"themes":[],"htmlText":"I","listText":"I","text":"I","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9919453491","repostId":"1112994384","repostType":4,"repost":{"id":"1112994384","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":1663847740,"share":"https://ttm.financial/m/news/1112994384?lang=&edition=fundamental","pubTime":"2022-09-22 19:55","market":"us","language":"en","title":"Pre-Bell｜Nasdaq Futures Slid Nearly 50 Points; This Vaccine Stock Slipped Over 6%","url":"https://stock-news.laohu8.com/highlight/detail?id=1112994384","media":"Tiger Newspress","summary":"U.S. stock futures were slightly lower on Thursday morning following a big decline in the major aver","content":"<html><head></head><body><p>U.S. stock futures were slightly lower on Thursday morning following a big decline in the major averages as traders weighed another large rate hike from the Federal Reserve.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 27 points, or 0.09%, S&amp;P 500 e-minis were down 8.25 points, or 0.22%, and Nasdaq 100 e-minis were down 43.25 points, or 0.37%.</p><p><img src=\"https://static.tigerbbs.com/c7082ed1e5db76824d0f90668946ea10\" tg-width=\"260\" tg-height=\"124\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/ACN\">Accenture PLC</a></b> – The consulting firm reported a better-than-expected quarterly profit and revenue, but gave a weaker-than-expected revenue forecast for the current quarter. Accenture pointed to IT spending cuts by corporate customers and a negative impact from the stronger dollar. Nonetheless, Accenture gained 1% in premarket trading.</p><p><b><a href=\"https://laohu8.com/S/DRI\">Darden Restaurants</a></b> – The parent of Olive Garden and other restaurant chains fell 2.5% in the premarket after reporting in-line quarter results. Darden’s same-restaurant sales rose by 4.2%, short of the consensus FactSet estimate of 5.1%. Food and beverage costs also rose slightly more than expected.</p><p><b><a href=\"https://laohu8.com/S/KBH\">KB Home</a></b>, <b><a href=\"https://laohu8.com/S/LEN\">Lennar</a></b> – KB Home and Lennar both reported better-than-expected quarterly earnings, but the home builders also posted lower-than-expected revenue as a housing market slowdown weighed on new home orders. KB Home fell 1.7% in premarket trading, while Lennar gained 1%.</p><p><b><a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a></b> – Salesforce shares added 1.9% in the premarket after the business software giant unveiled a plan to operate more efficiently and increase profit margins. Salesforce is aiming for a 25% adjusted operating margin for fiscal 2026, compared with the 20% it had targeted for fiscal 2023.</p><p><b><a href=\"https://laohu8.com/S/SCS\">Steelcase</a></b> – Steelcase reported a better-than-expected profit for its latest quarter, but the office furniture company’s revenue came in below estimates. the company also cut its outlook on slower-than-expected return-to-office trends. Steelcase fell 1% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/NVAX\">Novavax</a></b> – The drug maker’s stock slipped 6.1% in premarket trading after J.P. Morgan Securities downgraded it to “underweight” from “neutral”. The firm said the company’s recent guidance cut may not have gone far enough, given reduced vaccine demand as well as other factors.</p><p><b><a href=\"https://laohu8.com/S/FUL\">H.B. Fuller</a></b> – H.B. Fuller rose 2.2% in premarket trading following a slight earnings beat and revenue that missed estimates. The industrial adhesives maker reported an increase in market share and raised the lower end of its fiscal 2022 earnings range.</p><p><b><a href=\"https://laohu8.com/S/LLY\">Eli Lilly and</a></b> – Eli Lilly rose 1.4% in premarket trading after the FDA approved its cancer drug Retevmo for new uses. Separately, UBS upgraded the drug maker’s stock to “buy” from “neutral” for several reasons, including a lowering of risks surrounding the Lilly weight loss drug tirzepatide.</p><p><b><a href=\"https://laohu8.com/S/FDS\">FactSet Research</a></b> – The financial information services provider fell 7 cents shy of estimates with adjusted quarterly earnings of $3.13 per share. However, revenue exceeded Wall Street forecasts as FactSet reported an increase in organic revenue and annual subscription value.</p><p><b>Market News</b></p><p>The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level.</p><p>The U.S. Federal Trade Commission on Wednesday rejected a bid by <b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> to quash demands that both Chief Executive Andy Jassy and Executive Chairman Jeff Bezos testify at investigative hearings.</p><p><b><a href=\"https://laohu8.com/S/META\">Meta Platforms, Inc.</a></b> is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company’s plans.</p><p><b><a href=\"https://laohu8.com/S/SFTBY\">Softbank Group Corp</a></b> founder and CEO Masayoshi Son will discuss a &#34;strategic alliance&#34; between chip designer Arm and Samsung Electronics during the billionaire&#39;s first visit to South Korea in three years.</p><p><b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> Chief Executive Jensen Huang said Wednesday that he continues to see a large market for Nvidia&#39;s data center chips in China despite U.S. restrictions on exports of two of its top chips to the country.</p><p><b><a href=\"https://laohu8.com/S/CS\">Credit Suisse Group AG</a></b> has drawn up plans to split its investment bank in three, the Financial Times reported on Thursday, as the Swiss lender attempts to emerge from three years of relentless scandals.</p><p><b><a href=\"https://laohu8.com/S/HSBC\">HSBC Holdings PLC</a></b> raised its main lending rate in Hong Kong for the first time in four years, bumping up borrowing costs for property owners and businesses at a time when the economy is struggling with Covid restrictions and an exodus of talent.</p><p><b><a href=\"https://laohu8.com/S/NVS\">Novartis AG</a></b> unveiled a new strategy on Thursday based on eight big drug brands as the pharmaceuticals maker reshapes itself following the decision to spin off its underperforming generics business Sandoz.</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>Pre-Bell｜Nasdaq Futures Slid Nearly 50 Points; This Vaccine Stock Slipped Over 6%</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\">\nPre-Bell｜Nasdaq Futures Slid Nearly 50 Points; This Vaccine Stock Slipped Over 6%\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\">2022-09-22 19:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures were slightly lower on Thursday morning following a big decline in the major averages as traders weighed another large rate hike from the Federal Reserve.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were down 27 points, or 0.09%, S&amp;P 500 e-minis were down 8.25 points, or 0.22%, and Nasdaq 100 e-minis were down 43.25 points, or 0.37%.</p><p><img src=\"https://static.tigerbbs.com/c7082ed1e5db76824d0f90668946ea10\" tg-width=\"260\" tg-height=\"124\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/ACN\">Accenture PLC</a></b> – The consulting firm reported a better-than-expected quarterly profit and revenue, but gave a weaker-than-expected revenue forecast for the current quarter. Accenture pointed to IT spending cuts by corporate customers and a negative impact from the stronger dollar. Nonetheless, Accenture gained 1% in premarket trading.</p><p><b><a href=\"https://laohu8.com/S/DRI\">Darden Restaurants</a></b> – The parent of Olive Garden and other restaurant chains fell 2.5% in the premarket after reporting in-line quarter results. Darden’s same-restaurant sales rose by 4.2%, short of the consensus FactSet estimate of 5.1%. Food and beverage costs also rose slightly more than expected.</p><p><b><a href=\"https://laohu8.com/S/KBH\">KB Home</a></b>, <b><a href=\"https://laohu8.com/S/LEN\">Lennar</a></b> – KB Home and Lennar both reported better-than-expected quarterly earnings, but the home builders also posted lower-than-expected revenue as a housing market slowdown weighed on new home orders. KB Home fell 1.7% in premarket trading, while Lennar gained 1%.</p><p><b><a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a></b> – Salesforce shares added 1.9% in the premarket after the business software giant unveiled a plan to operate more efficiently and increase profit margins. Salesforce is aiming for a 25% adjusted operating margin for fiscal 2026, compared with the 20% it had targeted for fiscal 2023.</p><p><b><a href=\"https://laohu8.com/S/SCS\">Steelcase</a></b> – Steelcase reported a better-than-expected profit for its latest quarter, but the office furniture company’s revenue came in below estimates. the company also cut its outlook on slower-than-expected return-to-office trends. Steelcase fell 1% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/NVAX\">Novavax</a></b> – The drug maker’s stock slipped 6.1% in premarket trading after J.P. Morgan Securities downgraded it to “underweight” from “neutral”. The firm said the company’s recent guidance cut may not have gone far enough, given reduced vaccine demand as well as other factors.</p><p><b><a href=\"https://laohu8.com/S/FUL\">H.B. Fuller</a></b> – H.B. Fuller rose 2.2% in premarket trading following a slight earnings beat and revenue that missed estimates. The industrial adhesives maker reported an increase in market share and raised the lower end of its fiscal 2022 earnings range.</p><p><b><a href=\"https://laohu8.com/S/LLY\">Eli Lilly and</a></b> – Eli Lilly rose 1.4% in premarket trading after the FDA approved its cancer drug Retevmo for new uses. Separately, UBS upgraded the drug maker’s stock to “buy” from “neutral” for several reasons, including a lowering of risks surrounding the Lilly weight loss drug tirzepatide.</p><p><b><a href=\"https://laohu8.com/S/FDS\">FactSet Research</a></b> – The financial information services provider fell 7 cents shy of estimates with adjusted quarterly earnings of $3.13 per share. However, revenue exceeded Wall Street forecasts as FactSet reported an increase in organic revenue and annual subscription value.</p><p><b>Market News</b></p><p>The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level.</p><p>The U.S. Federal Trade Commission on Wednesday rejected a bid by <b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> to quash demands that both Chief Executive Andy Jassy and Executive Chairman Jeff Bezos testify at investigative hearings.</p><p><b><a href=\"https://laohu8.com/S/META\">Meta Platforms, Inc.</a></b> is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company’s plans.</p><p><b><a href=\"https://laohu8.com/S/SFTBY\">Softbank Group Corp</a></b> founder and CEO Masayoshi Son will discuss a &#34;strategic alliance&#34; between chip designer Arm and Samsung Electronics during the billionaire&#39;s first visit to South Korea in three years.</p><p><b><a href=\"https://laohu8.com/S/NVDA\">NVIDIA Corp</a></b> Chief Executive Jensen Huang said Wednesday that he continues to see a large market for Nvidia&#39;s data center chips in China despite U.S. restrictions on exports of two of its top chips to the country.</p><p><b><a href=\"https://laohu8.com/S/CS\">Credit Suisse Group AG</a></b> has drawn up plans to split its investment bank in three, the Financial Times reported on Thursday, as the Swiss lender attempts to emerge from three years of relentless scandals.</p><p><b><a href=\"https://laohu8.com/S/HSBC\">HSBC Holdings PLC</a></b> raised its main lending rate in Hong Kong for the first time in four years, bumping up borrowing costs for property owners and businesses at a time when the economy is struggling with Covid restrictions and an exodus of talent.</p><p><b><a href=\"https://laohu8.com/S/NVS\">Novartis AG</a></b> unveiled a new strategy on Thursday based on eight big drug brands as the pharmaceuticals maker reshapes itself following the decision to spin off its underperforming generics business Sandoz.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112994384","content_text":"U.S. stock futures were slightly lower on Thursday morning following a big decline in the major averages as traders weighed another large rate hike from the Federal Reserve.Market SnapshotAt 7:50 a.m. ET, Dow e-minis were down 27 points, or 0.09%, S&P 500 e-minis were down 8.25 points, or 0.22%, and Nasdaq 100 e-minis were down 43.25 points, or 0.37%.Pre-Market MoversAccenture PLC – The consulting firm reported a better-than-expected quarterly profit and revenue, but gave a weaker-than-expected revenue forecast for the current quarter. Accenture pointed to IT spending cuts by corporate customers and a negative impact from the stronger dollar. Nonetheless, Accenture gained 1% in premarket trading.Darden Restaurants – The parent of Olive Garden and other restaurant chains fell 2.5% in the premarket after reporting in-line quarter results. Darden’s same-restaurant sales rose by 4.2%, short of the consensus FactSet estimate of 5.1%. Food and beverage costs also rose slightly more than expected.KB Home, Lennar – KB Home and Lennar both reported better-than-expected quarterly earnings, but the home builders also posted lower-than-expected revenue as a housing market slowdown weighed on new home orders. KB Home fell 1.7% in premarket trading, while Lennar gained 1%.Salesforce.com – Salesforce shares added 1.9% in the premarket after the business software giant unveiled a plan to operate more efficiently and increase profit margins. Salesforce is aiming for a 25% adjusted operating margin for fiscal 2026, compared with the 20% it had targeted for fiscal 2023.Steelcase – Steelcase reported a better-than-expected profit for its latest quarter, but the office furniture company’s revenue came in below estimates. the company also cut its outlook on slower-than-expected return-to-office trends. Steelcase fell 1% in the premarket.Novavax – The drug maker’s stock slipped 6.1% in premarket trading after J.P. Morgan Securities downgraded it to “underweight” from “neutral”. The firm said the company’s recent guidance cut may not have gone far enough, given reduced vaccine demand as well as other factors.H.B. Fuller – H.B. Fuller rose 2.2% in premarket trading following a slight earnings beat and revenue that missed estimates. The industrial adhesives maker reported an increase in market share and raised the lower end of its fiscal 2022 earnings range.Eli Lilly and – Eli Lilly rose 1.4% in premarket trading after the FDA approved its cancer drug Retevmo for new uses. Separately, UBS upgraded the drug maker’s stock to “buy” from “neutral” for several reasons, including a lowering of risks surrounding the Lilly weight loss drug tirzepatide.FactSet Research – The financial information services provider fell 7 cents shy of estimates with adjusted quarterly earnings of $3.13 per share. However, revenue exceeded Wall Street forecasts as FactSet reported an increase in organic revenue and annual subscription value.Market NewsThe Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level.The U.S. Federal Trade Commission on Wednesday rejected a bid by Amazon.com to quash demands that both Chief Executive Andy Jassy and Executive Chairman Jeff Bezos testify at investigative hearings.Meta Platforms, Inc. is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company’s plans.Softbank Group Corp founder and CEO Masayoshi Son will discuss a \"strategic alliance\" between chip designer Arm and Samsung Electronics during the billionaire's first visit to South Korea in three years.NVIDIA Corp Chief Executive Jensen Huang said Wednesday that he continues to see a large market for Nvidia's data center chips in China despite U.S. restrictions on exports of two of its top chips to the country.Credit Suisse Group AG has drawn up plans to split its investment bank in three, the Financial Times reported on Thursday, as the Swiss lender attempts to emerge from three years of relentless scandals.HSBC Holdings PLC raised its main lending rate in Hong Kong for the first time in four years, bumping up borrowing costs for property owners and businesses at a time when the economy is struggling with Covid restrictions and an exodus of talent.Novartis AG unveiled a new strategy on Thursday based on eight big drug brands as the pharmaceuticals maker reshapes itself following the decision to spin off its underperforming generics business Sandoz.","news_type":1},"isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}