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2021-07-05

I hope amazon can faster grow up

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2021-07-01

Wow

S&P 500 notches fifth straight record closing high, fifth straight quarterly gain

2021-06-28

Gogo

June jobs report, Consumer confidence: What to know this week

2021-07-24

???

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2021-07-05

Good

When Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help.

2021-07-05

Go

Why high-quality, trustworthy companies have beaten the S&P 500 by 30%-50%

2021-07-03

?

The Jobs Report Was Strong. Why Investors Should Be Skeptical.

2021-07-02

Nice!

S&P 500 winning streak extends to sixth straight record close

2021-07-15

Wow

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2021-07-05

Like

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2021-07-03

?

Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked

2021-07-14

???

美国6月CPI数据点评：市场与联储、通胀的背离

2021-07-05

Noted

Is the stock market closed for the July Fourth holiday? Here’s what you need to know

2021-07-03

Go go go

Suze Orman worries about a market crash — here's what you should do

2021-06-30

Gogogo

Stocks Close at New Highs—Again. What’s Next.

2021-06-26

Go go go

Alibaba: Can BABA Get Back To $300? Yes, It Can

2021-08-16

???

iOS、Android、Windows 11 都爱用的「圆角」，真的是系统设计的唯一答案吗？

2021-07-09

Wow

时代轮替的缩影？宁德时代掌门人身家超过了马云

2021-07-03

Ok

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Go to Tiger App to see more news

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13:16","market":"hk","language":"zh","title":"iOS、Android、Windows 11 都爱用的「圆角」，真的是系统设计的唯一答案吗？","url":"https://stock-news.laohu8.com/highlight/detail?id=2159241129","media":"少数派","summary":"从 iOS 的设计中，发现更多答案","content":"<html><body><div><p>我是老人，一名设计师。由于最近的设计方向都逐渐趋同，以及最近发布的 Windows 11 也开始采用圆角设计，让我有了写这篇文章的想法。</p>\n<p>我想告诉你：不要停滞不前，去寻找更多答案。</p>\n<h2 hid=\"ss-hId-2\">「圆角」并不是唯一的答案</h2>\n<p>iOS 一直以来就是圆角的代表作。应用到到界面设计，其处处圆润的视觉体验无疑是令人愉悦的。从 iPhone X 采用圆角屏幕开始，我们可以看见<a href=\"https://laohu8.com/S/AAPL\">苹果</a>对「圆角」有多狂热。</p>\n<p>但「圆角」并不是唯一的答案。事实上，在设计中，从来就没有唯一的答案。</p>\n<h3>直角也能赏心悦目</h3>\n<p>「Windows 8」便是一个典型的例子。从 Windows 7 到 Windows 8 ，<a href=\"https://laohu8.com/S/MSFT\">微软</a>开始大范围使用锋利的直角，抛弃了 Windows 7 绚丽的 Aero 效果，转而使用大色块和丰富的动效。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_8adb65c5baea49f6bb04689a540dc6dd_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">「开始」屏幕</p>\n<p>「开始」屏幕虽然为许多人所不适应，但其独树一帜的直角色块设计，依然为 Windows 创造了独一无二的视觉体验，使微软和 Windows 的形象变得锋利，鲜明，这都要归功于「直角」给人高冷，坚韧的感觉。这是「圆角」所不可及的。</p>\n<p>仔细观察，开始屏幕中的磁贴并非简单的「单一色块」，而是采用了微量的渐变色与描边来丰富层次；同样，扁平的 Windows 8 并非只有「大色块 + 文字」，其中还采用了丰富的动效，使得界面鲜活起来。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_9d613c8d585142e6b7fc3c7dcd71f965_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">「磁贴」 并非单一色块</p>\n<p>但是很遗憾。「Windows 8」这款超前的系统，陨落在了不属于它的时代。从 Windows 10 开始，磁铁与动效设计被刻意淡化；在最新的 Windows 11 中，直角设计被完全放弃。</p>\n<h3>直角能与圆角并存</h3>\n<p>从 iOS 10 到 iOS 11 ，苹果为数字小键盘也加上了圆角设计，此举引发网友不满。大量用户吐槽新设计「更丑」了。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_ce4008e871eb43fca91baa3823737f91_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">我承认右边的看起来确实更丑了</p>\n<p>很显然该改动是为了响应 iPhone X 「处处圆角，处处圆润」的号召，强行把小键盘改成了圆角按钮。其违和感扑面而来。为什么不试试让直角与圆角共存呢？</p>\n<p>同样的例子在 Chrome 桌面版上也有体现。在 Chrome 69 版本中， Google 悄然将原先带有棱角的标签页，改成了完全的圆角，其描边也被一同抛弃。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_52538941e5f843fdb5b90f2c54e3b0cc_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">可能 Chrome 团队的审美确实非常独特</p>\n<p>由于 Chrome 几乎是全球用户量最多的浏览器，此举引发的骂声铺天盖地而来。reddit 上关于最新版 Chrome 69 的讨论无非是「complain about Chrome 69 (对 Chrome 69 的抱怨）」以及「how to disable round corner in Chrome 69 （如何在 Chrome 69 中关闭圆角）」。</p>\n<p>不过后来的事情大家也都知道了。Google 依旧我行我素，不仅没有把棱角改回来，还关闭了「回到旧版标签页」的隐藏选项；大量网友怨声载道，只能忍气吞声继续使用 Chrome。（谁叫 Chrome 市场份额第一名）</p>\n<p>这是两个反面例子，用以告诉你： 我喜欢直角 直角也是优秀的设计。</p>\n<h2 hid=\"ss-hId-3\">「高斯模糊」并不是唯一的答案</h2>\n<p>自 iOS 7 问世以来，苹果开始大规模在界面中采用「高斯模糊」的设计。原先这种模糊算法仅被应用于照片处理等场景。而 iOS 7 几乎可以称得上是将模糊算法应用到用户界面的开山鼻祖。 </p>\n<h3>用法</h3>\n<p>这块内容并不是要讨论高斯模糊的缺点（其实缺点也显而易见，实时模糊吃显存），而是讨论： 还有没有替补高斯模糊的设计方案 。</p>\n<p>仔细观察高斯模糊在 iOS 中的运用：他们都有一个共同点，那就是都被用于模糊无关的背景，从而实现对中心内容的聚焦。 这模拟了摄影中背景虚化的效果，也最接近人眼观察事物的感觉。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_c0b73c69cb554913a008d089d2883006_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">「聚焦」效果</p>\n<p>了解了高斯模糊的用在哪些方面，我们便能发散思维，使用其他效果来替代高斯模糊。下面列出两种各大厂商用的最多的替代方案：</p>\n<h3>平均</h3>\n<p>平均是一种图像算法。顾名思义，就是从一张包含许多色彩的图片（也就是壁纸）中，平均出最能代表原图片的单一颜色。 也就是我们常常说的「提取主题色」。</p>\n<p>那么提取了主题色有什么用呢？我们把本应为高斯模糊的地方覆盖上主题色不就行了！像这样：</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_53d40a47fa574308a55428e8b7b770cd_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">不同的算法提取的主题色不同，这只是一个典型例子</p>\n<p>看到这里，你应该想起来了当时 Android 5.0 带来的 Material Design，其中广泛运用了「平均」。</p>\n<h3>半透明</h3>\n<p>在高斯模糊还没普及到用户界面的时候，半透明几乎是最火的 UI 元素：Apple 在用，华为也在用，各种大小厂商都跟风在用。这几乎是最简单的替换高斯模糊的方案，同时也很美观。</p>\n<h2 hid=\"ss-hId-4\">「统一」并不是唯一的答案</h2>\n<p>我们总是喜欢看到整洁统一的设计，无论是整洁的餐桌，整洁的房间，在 iOS 中亦是如此。但我们是否需要为了统一而统一呢？</p>\n<h3>过度「统一」的侧边栏</h3>\n<p>苹果对于 iPad 的生产力尤为看重。为了使 UI 设计在这一点上得到响应，从 iPadOS 14 开始，苹果开始大范围在内建 App 上采用「侧边栏」的设计，意图即是与 macOS 中的侧边栏统一，带来「更具生产力」的体验。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_72e92efd492a4b15aa5925e0f6b2bb0a_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">一眼看过去似乎还不错 ...</p>\n<p>愿景很美好。但是，这么做，真的对吗？</p>\n<p>让我们以 iPad 的「侧边栏」设计和原先的设计做个对比：原本的导航栏上有四个简洁易懂的图标，作为 App 的主导航，在页面下方居中显示，占用的空间也很小，直观且一目了然；</p>\n<p>而为了与 macOS 的侧边栏强行达到统一，原本的导航栏被移至页面左方，占用大量空间，同时内部填充大量图标，架构混乱，不再简洁。你仍然可以隐藏或显示侧边栏来扩展屏幕，不过这需要执行额外的步骤。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_4a1b26dcc4c94e95a50e41672b725d13_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">当我打开相册，我最想点选左边的按钮，而不是右边的</p>\n<p>这就使得侧边栏像一个袋子，苹果把什么东西都往里面装，没有分类，没有聚焦，唯一的好处便是与 macOS 形成了统一。</p>\n<p>但这并不是苹果完成「统一」大业的最后一步。在最新的 iPadOS 15 预览版中，苹果甚至为 Safari 浏览器加入了「侧边栏」设计，消耗大块的面积，用途仅仅是为了显示「书签」「阅读列表」「历史记录」以及一个意义不明的新功能「标签组」；你需要反复呼出侧边栏来找到相应的功能。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_fe2c1032520f4e808f059bed62c83b16_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">其他 App 就算了，Safari 里加侧边栏实在是多此一举</p>\n<p>作为上亿 iPad / iPhone 用户的默认浏览器，iPadOS 15 / iOS 15 还带来了许多不可思议的问题：</p>\n<ul>\n<li><p>「刷新网页」操作居然需要进入二级菜单（编注：刷新按钮已在 Beta 4 中回归）；</p></li>\n<li><p>十多个常用选项填充在一个「…」二级菜单中；</p></li>\n<li><p>要访问你的书签，「只需」执行三步。</p></li>\n</ul>\n<p>我没准备开始吐槽 Apple 清奇的设计思路，Reddit 上的 #iOS 15 Safari 标签下已经聚集了许多不满的声音。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_72dff084ba294c229e2f1ab730d56c4b_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">完全赞同</p>\n<h3>在纷繁中建立秩序</h3>\n<p>显示，上方是一个 iOS 在统一上失败的例子，但这并不是说不需要统一。我们来看看一个成功的例子：</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_fef1e42c080f45818f277dcbc06d07f1_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">微软的商店确实该改改了</p>\n<p>如果要说「iOS 的应用商店」相较「Windows 的应用商店」有什么成功之处的话，那么我认为 iOS 的应用商店最大的优势便是对每个 App 采用了「统一」的形状约束 。</p>\n<p>试问如果你去超市购物，是愿意看到各个商品都整整齐齐的，还是乱丢乱放的呢？iOS 的应用商店在这一点上尤为出色。</p>\n<h2 hid=\"ss-hId-5\">寻找更多答案</h2>\n<p>我们已经走出了 iOS 之外寻找答案，这篇文章就到这里结束了。但试着迈向更深处吧，比如「全 3D 建模 UI」；又或是「<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>感知设计」。还有哪些区域是我们从未探索过的呢？</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_8cb3b98106ea4acc9bdcf164134c36bd_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">图源 Dribbble，基于 Blender 制作</p>\n<p>我们永远不会停止寻找答案。</p>\n<p>本文来自微信公众号“少数派”（ID:sspaime），作者：老人20000，<a href=\"https://laohu8.com/S/KRKR\">36氪</a>经授权发布。</p></div></body></html>","source":"36kr_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>iOS、Android、Windows 11 都爱用的「圆角」，真的是系统设计的唯一答案吗？</title>\n<style 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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\">\niOS、Android、Windows 11 都爱用的「圆角」，真的是系统设计的唯一答案吗？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-16 13:16 北京时间&nbsp;&nbsp;&nbsp;<a href=https://36kr.com/p/1356878027653765><strong>少数派</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>我是老人，一名设计师。由于最近的设计方向都逐渐趋同，以及最近发布的 Windows 11 也开始采用圆角设计，让我有了写这篇文章的想法。\n我想告诉你：不要停滞不前，去寻找更多答案。\n「圆角」并不是唯一的答案\niOS 一直以来就是圆角的代表作。应用到到界面设计，其处处圆润的视觉体验无疑是令人愉悦的。从 iPhone X 采用圆角屏幕开始，我们可以看见苹果对「圆角」有多狂热。\n但「圆角」并不是唯一的...</p>\n\n<a href=\"https://36kr.com/p/1356878027653765\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d144a6f2277c7ed90226eb8331e6d7d4","relate_stocks":{"AAPL":"苹果"},"source_url":"https://36kr.com/p/1356878027653765","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159241129","content_text":"我是老人，一名设计师。由于最近的设计方向都逐渐趋同，以及最近发布的 Windows 11 也开始采用圆角设计，让我有了写这篇文章的想法。\n我想告诉你：不要停滞不前，去寻找更多答案。\n「圆角」并不是唯一的答案\niOS 一直以来就是圆角的代表作。应用到到界面设计，其处处圆润的视觉体验无疑是令人愉悦的。从 iPhone X 采用圆角屏幕开始，我们可以看见苹果对「圆角」有多狂热。\n但「圆角」并不是唯一的答案。事实上，在设计中，从来就没有唯一的答案。\n直角也能赏心悦目\n「Windows 8」便是一个典型的例子。从 Windows 7 到 Windows 8 ，微软开始大范围使用锋利的直角，抛弃了 Windows 7 绚丽的 Aero 效果，转而使用大色块和丰富的动效。\n\n「开始」屏幕\n「开始」屏幕虽然为许多人所不适应，但其独树一帜的直角色块设计，依然为 Windows 创造了独一无二的视觉体验，使微软和 Windows 的形象变得锋利，鲜明，这都要归功于「直角」给人高冷，坚韧的感觉。这是「圆角」所不可及的。\n仔细观察，开始屏幕中的磁贴并非简单的「单一色块」，而是采用了微量的渐变色与描边来丰富层次；同样，扁平的 Windows 8 并非只有「大色块 + 文字」，其中还采用了丰富的动效，使得界面鲜活起来。\n\n「磁贴」 并非单一色块\n但是很遗憾。「Windows 8」这款超前的系统，陨落在了不属于它的时代。从 Windows 10 开始，磁铁与动效设计被刻意淡化；在最新的 Windows 11 中，直角设计被完全放弃。\n直角能与圆角并存\n从 iOS 10 到 iOS 11 ，苹果为数字小键盘也加上了圆角设计，此举引发网友不满。大量用户吐槽新设计「更丑」了。\n\n我承认右边的看起来确实更丑了\n很显然该改动是为了响应 iPhone X 「处处圆角，处处圆润」的号召，强行把小键盘改成了圆角按钮。其违和感扑面而来。为什么不试试让直角与圆角共存呢？\n同样的例子在 Chrome 桌面版上也有体现。在 Chrome 69 版本中， Google 悄然将原先带有棱角的标签页，改成了完全的圆角，其描边也被一同抛弃。\n\n可能 Chrome 团队的审美确实非常独特\n由于 Chrome 几乎是全球用户量最多的浏览器，此举引发的骂声铺天盖地而来。reddit 上关于最新版 Chrome 69 的讨论无非是「complain about Chrome 69 (对 Chrome 69 的抱怨）」以及「how to disable round corner in Chrome 69 （如何在 Chrome 69 中关闭圆角）」。\n不过后来的事情大家也都知道了。Google 依旧我行我素，不仅没有把棱角改回来，还关闭了「回到旧版标签页」的隐藏选项；大量网友怨声载道，只能忍气吞声继续使用 Chrome。（谁叫 Chrome 市场份额第一名）\n这是两个反面例子，用以告诉你： 我喜欢直角 直角也是优秀的设计。\n「高斯模糊」并不是唯一的答案\n自 iOS 7 问世以来，苹果开始大规模在界面中采用「高斯模糊」的设计。原先这种模糊算法仅被应用于照片处理等场景。而 iOS 7 几乎可以称得上是将模糊算法应用到用户界面的开山鼻祖。 \n用法\n这块内容并不是要讨论高斯模糊的缺点（其实缺点也显而易见，实时模糊吃显存），而是讨论： 还有没有替补高斯模糊的设计方案 。\n仔细观察高斯模糊在 iOS 中的运用：他们都有一个共同点，那就是都被用于模糊无关的背景，从而实现对中心内容的聚焦。 这模拟了摄影中背景虚化的效果，也最接近人眼观察事物的感觉。\n\n「聚焦」效果\n了解了高斯模糊的用在哪些方面，我们便能发散思维，使用其他效果来替代高斯模糊。下面列出两种各大厂商用的最多的替代方案：\n平均\n平均是一种图像算法。顾名思义，就是从一张包含许多色彩的图片（也就是壁纸）中，平均出最能代表原图片的单一颜色。 也就是我们常常说的「提取主题色」。\n那么提取了主题色有什么用呢？我们把本应为高斯模糊的地方覆盖上主题色不就行了！像这样：\n\n不同的算法提取的主题色不同，这只是一个典型例子\n看到这里，你应该想起来了当时 Android 5.0 带来的 Material Design，其中广泛运用了「平均」。\n半透明\n在高斯模糊还没普及到用户界面的时候，半透明几乎是最火的 UI 元素：Apple 在用，华为也在用，各种大小厂商都跟风在用。这几乎是最简单的替换高斯模糊的方案，同时也很美观。\n「统一」并不是唯一的答案\n我们总是喜欢看到整洁统一的设计，无论是整洁的餐桌，整洁的房间，在 iOS 中亦是如此。但我们是否需要为了统一而统一呢？\n过度「统一」的侧边栏\n苹果对于 iPad 的生产力尤为看重。为了使 UI 设计在这一点上得到响应，从 iPadOS 14 开始，苹果开始大范围在内建 App 上采用「侧边栏」的设计，意图即是与 macOS 中的侧边栏统一，带来「更具生产力」的体验。\n\n一眼看过去似乎还不错 ...\n愿景很美好。但是，这么做，真的对吗？\n让我们以 iPad 的「侧边栏」设计和原先的设计做个对比：原本的导航栏上有四个简洁易懂的图标，作为 App 的主导航，在页面下方居中显示，占用的空间也很小，直观且一目了然；\n而为了与 macOS 的侧边栏强行达到统一，原本的导航栏被移至页面左方，占用大量空间，同时内部填充大量图标，架构混乱，不再简洁。你仍然可以隐藏或显示侧边栏来扩展屏幕，不过这需要执行额外的步骤。\n\n当我打开相册，我最想点选左边的按钮，而不是右边的\n这就使得侧边栏像一个袋子，苹果把什么东西都往里面装，没有分类，没有聚焦，唯一的好处便是与 macOS 形成了统一。\n但这并不是苹果完成「统一」大业的最后一步。在最新的 iPadOS 15 预览版中，苹果甚至为 Safari 浏览器加入了「侧边栏」设计，消耗大块的面积，用途仅仅是为了显示「书签」「阅读列表」「历史记录」以及一个意义不明的新功能「标签组」；你需要反复呼出侧边栏来找到相应的功能。\n\n其他 App 就算了，Safari 里加侧边栏实在是多此一举\n作为上亿 iPad / iPhone 用户的默认浏览器，iPadOS 15 / iOS 15 还带来了许多不可思议的问题：\n\n「刷新网页」操作居然需要进入二级菜单（编注：刷新按钮已在 Beta 4 中回归）；\n十多个常用选项填充在一个「…」二级菜单中；\n要访问你的书签，「只需」执行三步。\n\n我没准备开始吐槽 Apple 清奇的设计思路，Reddit 上的 #iOS 15 Safari 标签下已经聚集了许多不满的声音。\n\n完全赞同\n在纷繁中建立秩序\n显示，上方是一个 iOS 在统一上失败的例子，但这并不是说不需要统一。我们来看看一个成功的例子：\n\n微软的商店确实该改改了\n如果要说「iOS 的应用商店」相较「Windows 的应用商店」有什么成功之处的话，那么我认为 iOS 的应用商店最大的优势便是对每个 App 采用了「统一」的形状约束 。\n试问如果你去超市购物，是愿意看到各个商品都整整齐齐的，还是乱丢乱放的呢？iOS 的应用商店在这一点上尤为出色。\n寻找更多答案\n我们已经走出了 iOS 之外寻找答案，这篇文章就到这里结束了。但试着迈向更深处吧，比如「全 3D 建模 UI」；又或是「智能感知设计」。还有哪些区域是我们从未探索过的呢？\n\n图源 Dribbble，基于 Blender 制作\n我们永远不会停止寻找答案。\n本文来自微信公众号“少数派”（ID:sspaime），作者：老人20000，36氪经授权发布。","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174404365,"gmtCreate":1627119653957,"gmtModify":1703484539191,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/174404365","repostId":"1170350340","repostType":4,"isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147331364,"gmtCreate":1626333366558,"gmtModify":1703758079597,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/147331364","repostId":"2151544523","repostType":2,"isVote":1,"tweetType":1,"viewCount":274,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147333601,"gmtCreate":1626333330603,"gmtModify":1703758078446,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/147333601","repostId":"2151544523","repostType":4,"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144074250,"gmtCreate":1626257595670,"gmtModify":1703756479159,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144074250","repostId":"2151267518","repostType":4,"repost":{"id":"2151267518","pubTimestamp":1626256560,"share":"https://www.laohu8.com/m/news/2151267518?lang=&edition=full","pubTime":"2021-07-14 17:56","market":"us","language":"zh","title":"美国6月CPI数据点评：市场与联储、通胀的背离","url":"https://stock-news.laohu8.com/highlight/detail?id=2151267518","media":"格隆汇","summary":"事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：\n\n交运和住房继续成为6月美国CPI超预期的主要贡献。6月CPI继","content":"<h3><b>事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：</b></h3>\n<h3></h3>\n<p><b>交运和住房继续成为6月美国CPI超预期的主要贡献。</b>6月CPI继续超预期，且不仅是同比，环比也超过预期和季节性。分项看，交运和住房继续成为主要拉动。如我们在此前提示，住房和交运涨价有大宗（油价）上涨的因素，也有供需的影响：交运分项中，汽车（尤其二手车）价格继续上行，体现缺芯片的影响仍在延续；住房分项中，疫情好转使得酒店价格回暖，租金分项的拉动也开始快速上升——这和失业率逐步回归、劳动力回流大城市工作密切相关。</p>\n<p><img src=\"https://static.tigerbbs.com/eac5a4af20f84bb663ce8767806230a6\" tg-width=\"1080\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/945f193b97b80d75cda83347e13f2ad0\" tg-width=\"994\" tg-height=\"508\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/0ffc8ff7d4a8af59aa3b70dd75afd86b\" tg-width=\"1080\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国经济重心转向服务业，劳动力供需矛盾突出，通胀恐持续维持高位。</b>&nbsp;我们此前提示，随着美国消费复苏的重心从商品切至服务，劳动力供需错配的问题也将突出，“工资通胀”压力短期难以缓解。此外，供不应求的状况也体现在供应链环节——物流环节压力快速上升，这也进一步加剧了供给和需求的错配，从而推升了涨价压力。</p>\n<p><b>近期市场对联储紧、高通胀“充耳不闻”，或主要受经济预期降温主导。</b>从市场反应来看，CPI发布后30分钟内美债、黄金跌，美元涨，通胀预期瞬时升温，但不久后就平复波动。实际上，5月下旬以来，美国市场似乎对高通胀和联储转鹰反应都较平淡，10年期美债利率持续下行、美债利率曲线平坦化、美股整体上行。<b>我们自2月以来持续提示美国三季度通胀居高难下的风险，而自4月通胀超预期后，市场一致预期快速向我们此前预测收敛，6月会议联储也将2021年核心通胀预期上修到3%，这使得此前冲高的市场通胀预期自5月反倒走弱，大家似乎开始接受“阶段性”通胀，拉动美债名义利率下行。</b>另一方面，美国长债实际利率的下行及美股周期和成长的再平衡，可能显示市场已开始反映财政退坡后经济动能的衰退，这与2010年的走势实际上是非常相似的。</p>\n<p><img src=\"https://static.tigerbbs.com/2b03763568557b7a12c4b8faaaf5c3bc\" tg-width=\"1080\" tg-height=\"439\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/eba91a52643c25fa897543876a4799e6\" tg-width=\"1080\" tg-height=\"445\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/17d945d5042c88800af14e44b4557bd5\" tg-width=\"1080\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p>\n<p><b>市场越淡定，越需要关注联储释放超预期信号的可能性及其潜在冲击。</b>我们对联储路径的判断是，虽然最终将是“覆水难收”，但是可能阶段性仍需“做做样子”，给出转紧的预期引导。就现在而言，当前市场对联储“难紧”预期量打得越慢，联储边际调整超出市场预期的可能性也越高。需要持续关注7-9月联储操作及其对市场带来的潜在冲击。</p>\n<p><b>风险提示：联储货币政策变化超预期，海外市场波动超预期，疫情恶化超预期。</b></p>","source":"gelonghui_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美国6月CPI数据点评：市场与联储、通胀的背离</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; 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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\">\n美国6月CPI数据点评：市场与联储、通胀的背离\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 17:56 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.gelonghui.com/p/475462><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：\n\n交运和住房继续成为6月美国CPI超预期的主要贡献。6月CPI继续超预期，且不仅是同比，环比也超过预期和季节性。分项看，交运和住房继续成为主要拉动。如我们在此前提示，住房和交运涨价有大宗（油价）上涨的因素，也有供需的影响：交运分项中，汽车（尤其二手车）价格继续上行...</p>\n\n<a href=\"http://www.gelonghui.com/p/475462\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b88e2fdae8e5bd88881023c7c82026ea","relate_stocks":{"IEF":"债券指数ETF-iShares Barclays 7-10年","TLT":"20+年以上美国国债ETF-iShares","GOVT":"iShares安硕核心美国国债ETF","IEI":"iShares Barclays 3-7 Year Trea","SHY":"债券指数ETF-iShares Barclays 1-3年国债"},"source_url":"http://www.gelonghui.com/p/475462","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2151267518","content_text":"事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：\n\n交运和住房继续成为6月美国CPI超预期的主要贡献。6月CPI继续超预期，且不仅是同比，环比也超过预期和季节性。分项看，交运和住房继续成为主要拉动。如我们在此前提示，住房和交运涨价有大宗（油价）上涨的因素，也有供需的影响：交运分项中，汽车（尤其二手车）价格继续上行，体现缺芯片的影响仍在延续；住房分项中，疫情好转使得酒店价格回暖，租金分项的拉动也开始快速上升——这和失业率逐步回归、劳动力回流大城市工作密切相关。\n\n\n\n美国经济重心转向服务业，劳动力供需矛盾突出，通胀恐持续维持高位。 我们此前提示，随着美国消费复苏的重心从商品切至服务，劳动力供需错配的问题也将突出，“工资通胀”压力短期难以缓解。此外，供不应求的状况也体现在供应链环节——物流环节压力快速上升，这也进一步加剧了供给和需求的错配，从而推升了涨价压力。\n近期市场对联储紧、高通胀“充耳不闻”，或主要受经济预期降温主导。从市场反应来看，CPI发布后30分钟内美债、黄金跌，美元涨，通胀预期瞬时升温，但不久后就平复波动。实际上，5月下旬以来，美国市场似乎对高通胀和联储转鹰反应都较平淡，10年期美债利率持续下行、美债利率曲线平坦化、美股整体上行。我们自2月以来持续提示美国三季度通胀居高难下的风险，而自4月通胀超预期后，市场一致预期快速向我们此前预测收敛，6月会议联储也将2021年核心通胀预期上修到3%，这使得此前冲高的市场通胀预期自5月反倒走弱，大家似乎开始接受“阶段性”通胀，拉动美债名义利率下行。另一方面，美国长债实际利率的下行及美股周期和成长的再平衡，可能显示市场已开始反映财政退坡后经济动能的衰退，这与2010年的走势实际上是非常相似的。\n\n\n\n市场越淡定，越需要关注联储释放超预期信号的可能性及其潜在冲击。我们对联储路径的判断是，虽然最终将是“覆水难收”，但是可能阶段性仍需“做做样子”，给出转紧的预期引导。就现在而言，当前市场对联储“难紧”预期量打得越慢，联储边际调整超出市场预期的可能性也越高。需要持续关注7-9月联储操作及其对市场带来的潜在冲击。\n风险提示：联储货币政策变化超预期，海外市场波动超预期，疫情恶化超预期。","news_type":1},"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143707725,"gmtCreate":1625815288467,"gmtModify":1703749107771,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143707725","repostId":"2150682378","repostType":4,"repost":{"id":"2150682378","pubTimestamp":1625814142,"share":"https://www.laohu8.com/m/news/2150682378?lang=&edition=full","pubTime":"2021-07-09 15:02","market":"sh","language":"zh","title":"时代轮替的缩影？宁德时代掌门人身家超过了马云","url":"https://stock-news.laohu8.com/highlight/detail?id=2150682378","media":"华尔街见闻","summary":"曾毓群首次成为亚洲最富有的五人之一。","content":"<p>福布斯富豪榜的实时榜单显示，全球最大电动汽车电池制造商<a href=\"https://laohu8.com/S/300750\">宁德时代</a>的创始人曾毓群身家已达到495亿美元，全球财富排名第25位。</p>\n<p>这超过了<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>创始人马云481亿美元的身家，并使曾毓群首次成为亚洲最富有的五人之一。</p>\n<p><b>全球清洁能源的热潮</b></p>\n<p>宁德时代是全球领先的锂离子研发制造公司，专注于新能源汽车动力电池系统、储能系统的研发、生产和销售，客户包括<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>、奔驰、宝马等众多企业，最后一次创业的雷军也曾于5月份拜访宁德时代，商讨电池供应问题。</p>\n<p>宁德时代的客户几乎囊括了汽车领域的前十企业，经营利润也是逐年高增，股价更是爆炸性上升。</p>\n<p>随着电动汽车需求的增加、各国努力减少碳排放和成本的下降，自2018年宁德时代在深圳上市以来，其股价已飙升逾20倍，仅今年就上涨了59%。</p>\n<p>宁德时代市值目前突破1.28万亿，位居A股总市值第5位。</p>\n<p>我国力争二氧化碳排放量于2030年前达到峰值，在2060年实现碳中和目标，已经在全球电动汽车销售市场中处于领先地位。根据中国乘用车协会的数据，2020年中国电动汽车销量增长9.8%至111万辆。</p>\n<p>SNE Research的一份报告显示，今年前五个月，全球电动汽车电池销量较去年同比增长一倍以上，其中宁德时代市场份额最大，占31.2%。</p>\n<p>这场清洁能源热潮推高了宁德时代等特斯拉主要供应商的股价，也使得他们积累了巨额的财富。</p>\n<p>3年前，宁德时代刚刚上市的时候，很多人可能未曾料到锂电池这个行业前景如此巨大，没有意识到新能源汽车未来会取代传统燃油车。</p>\n<p><b>发展前景或将继续广阔</b></p>\n<p>值得注意的是，曾毓群并不是唯一一位受益于宁德时代股价飙升的亿万富翁。公司副董事长黄世林身家已超过210亿美元，而副董事长李平身家85亿美元。</p>\n<p>随着曾毓群的事业平步青云，马云的星途却逐渐衰落，今年他的财富损失了25亿美元。</p>\n<p>据彭博报道，清华大学NIFR全球家族企业研究中心主任高昊表示：</p>\n<blockquote>\n 过去亿万富翁排名由房地产大亨和科技企业家主导，现在更多来自新能源领域。作为电动汽车电池的行业领导者，宁德时代将从碳中和目标中受益最大。\n</blockquote>\n<p>彭博预计，得益于规模经济、具有成本竞争力的上游供应链和稳固的客户基础，宁德时代的全球销售额将继续增长。</p>\n<p><a href=\"https://laohu8.com/S/601995\">中金公司</a>近日发布报告称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德远期全球市场份额有望达到30%以上。</p>\n<p>从长期发展的角度来看，宁德时代能否抓住当前的机遇，赶快实现全产业的覆盖，乃至于产业上下游市场的拓展，真正让市场的预期和市场的空间进行一次全面的匹配，让业绩来说话，可能才是宁德时代必须立刻解决的问题。</p>","source":"wallstreetcn_api","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>时代轮替的缩影？宁德时代掌门人身家超过了马云</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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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\">\n时代轮替的缩影？宁德时代掌门人身家超过了马云\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 15:02 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3634987><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>福布斯富豪榜的实时榜单显示，全球最大电动汽车电池制造商宁德时代的创始人曾毓群身家已达到495亿美元，全球财富排名第25位。\n这超过了阿里巴巴创始人马云481亿美元的身家，并使曾毓群首次成为亚洲最富有的五人之一。\n全球清洁能源的热潮\n宁德时代是全球领先的锂离子研发制造公司，专注于新能源汽车动力电池系统、储能系统的研发、生产和销售，客户包括特斯拉、奔驰、宝马等众多企业，最后一次创业的雷军也曾于5月份...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3634987\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d4781a43b3aa306dd3d778e1dbf292b9","relate_stocks":{"300750":"宁德时代","QNETCN":"纳斯达克中美互联网老虎指数","09988":"阿里巴巴-SW","BABA":"阿里巴巴"},"source_url":"https://wallstreetcn.com/articles/3634987","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150682378","content_text":"福布斯富豪榜的实时榜单显示，全球最大电动汽车电池制造商宁德时代的创始人曾毓群身家已达到495亿美元，全球财富排名第25位。\n这超过了阿里巴巴创始人马云481亿美元的身家，并使曾毓群首次成为亚洲最富有的五人之一。\n全球清洁能源的热潮\n宁德时代是全球领先的锂离子研发制造公司，专注于新能源汽车动力电池系统、储能系统的研发、生产和销售，客户包括特斯拉、奔驰、宝马等众多企业，最后一次创业的雷军也曾于5月份拜访宁德时代，商讨电池供应问题。\n宁德时代的客户几乎囊括了汽车领域的前十企业，经营利润也是逐年高增，股价更是爆炸性上升。\n随着电动汽车需求的增加、各国努力减少碳排放和成本的下降，自2018年宁德时代在深圳上市以来，其股价已飙升逾20倍，仅今年就上涨了59%。\n宁德时代市值目前突破1.28万亿，位居A股总市值第5位。\n我国力争二氧化碳排放量于2030年前达到峰值，在2060年实现碳中和目标，已经在全球电动汽车销售市场中处于领先地位。根据中国乘用车协会的数据，2020年中国电动汽车销量增长9.8%至111万辆。\nSNE Research的一份报告显示，今年前五个月，全球电动汽车电池销量较去年同比增长一倍以上，其中宁德时代市场份额最大，占31.2%。\n这场清洁能源热潮推高了宁德时代等特斯拉主要供应商的股价，也使得他们积累了巨额的财富。\n3年前，宁德时代刚刚上市的时候，很多人可能未曾料到锂电池这个行业前景如此巨大，没有意识到新能源汽车未来会取代传统燃油车。\n发展前景或将继续广阔\n值得注意的是，曾毓群并不是唯一一位受益于宁德时代股价飙升的亿万富翁。公司副董事长黄世林身家已超过210亿美元，而副董事长李平身家85亿美元。\n随着曾毓群的事业平步青云，马云的星途却逐渐衰落，今年他的财富损失了25亿美元。\n据彭博报道，清华大学NIFR全球家族企业研究中心主任高昊表示：\n\n 过去亿万富翁排名由房地产大亨和科技企业家主导，现在更多来自新能源领域。作为电动汽车电池的行业领导者，宁德时代将从碳中和目标中受益最大。\n\n彭博预计，得益于规模经济、具有成本竞争力的上游供应链和稳固的客户基础，宁德时代的全球销售额将继续增长。\n中金公司近日发布报告称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德远期全球市场份额有望达到30%以上。\n从长期发展的角度来看，宁德时代能否抓住当前的机遇，赶快实现全产业的覆盖，乃至于产业上下游市场的拓展，真正让市场的预期和市场的空间进行一次全面的匹配，让业绩来说话，可能才是宁德时代必须立刻解决的问题。","news_type":1},"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157591609,"gmtCreate":1625586779801,"gmtModify":1703744528446,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/157591609","repostId":"1124973136","repostType":4,"isVote":1,"tweetType":1,"viewCount":167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154171580,"gmtCreate":1625492890640,"gmtModify":1703742662340,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/154171580","repostId":"2148980793","repostType":4,"repost":{"id":"2148980793","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1625482920,"share":"https://www.laohu8.com/m/news/2148980793?lang=&edition=full","pubTime":"2021-07-05 19:02","market":"us","language":"en","title":"What to expect if 'peak everything' already has happened and markets feel the force of gravity again","url":"https://stock-news.laohu8.com/highlight/detail?id=2148980793","media":"Dow Jones","summary":"NASA ranks the lack of gravity as a top 5 risk of human space travel.\nBut gravity also has emerged a","content":"<p>NASA ranks the lack of gravity as a top 5 risk of human space travel.</p>\n<p>But gravity also has emerged as a concern for soaring U.S. stocks, bond prices and other financial assets as the force of extreme fiscal stimulus, meant to get the U.S. economy to the other side of the pandemic, begins to ease up.</p>\n<p>After a stunning first-half, the rest of 2021 could be poised for a slower pace of U.S. economic expansion and for the rate of inflation to come back down to earth.</p>\n<p>A bit more grounding wouldn't entirely be a bad thing for financial markets either, according to investors and analysts who spoke with MarketWatch about what to expect in the year's second half, as the dust settles with the American economy recovering and trillions of dollars worth of Washington fiscal stimulus fading into the background.</p>\n<p>\"It is very possible that we have seen peak everything,\" said Giorgio Caputo, head of the multi-asset team at J O Hambro Capital Management. \"But that doesn't mean we can't have very solid continued growth in the recovery.\"</p>\n<p>Like the pace of \"revenge travel growth forecast for GDP in the second-quarter.</p>\n<p>\"In terms of GPD numbers, it will be hard to have year-over-year growth rates that rival what the second quarter of 2021 is expected to look like, relative to the second-quarter of 2020, when the whole world was shut down,\" Caputo said.</p>\n<p>\"But you've still got monetary policy that's incredibly accommodative, and will be for a long time.\"</p>\n<p>A lofty perch</p>\n<p>The major U.S. stock indexes finished the first week of the third quarter at all-time highs , after the S&amp;P 500 booked the best five quarters of percentage gains since the second-quarter of 1936, according to Dow Jones Market Data.</p>\n<p>Supply of U.S. corporate bonds <a href=\"https://laohu8.com/S/LQD\">$(LQD)$</a> -- and even demand in the sleepy municipal-bond market of the post-2008 financial crisis era.</p>\n<p>Issuance of U.S. investment-grade corporate bonds hit $860 billion in the year's first half, the second-highest tally ever, after last year's $1.2 trillion boom, according to BofA Global analysts.</p>\n<p>\"Companies still carry sizable cash war chests accumulated last year,\" the BofA team wrote, in a weekly note. \"On the other hand demand creates supply, and the combination of historically low yields and spreads at post-crisis tights may attract opportunistic issuance.\"</p>\n<p>It isn't only U.S. companies sitting on extra pandemic cash. The rate of U.S. personal saving tumbled to a still-elevated 12.4% in May from its highest on record at 33.7% in April 2020, as households squirreled away extra government aid. Unleashing that cash may sustain economic growth this year.</p>\n<p>Still, the bond market has been signaling potential trouble ahead for the U.S. economy, in terms of the Federal Reserve reaching its 2% inflation target over the longer run, with the 10-year Treasury yield at1.434% Friday, its lowest since March 2.</p>\n<p>\"That is spurring some desire to have growth stocks,\" said Robert Pavlik, senior portfolio manager, Dakota Wealth Management, of the thinking that Fed support could be harder to dial back if the economy struggles to grow.</p>\n<p>The S&amp;P 500 ended the week up 1.7%, and 15.9% higher on the year thus far, while its growth segment rose1.6% and 14.3%, respectively. The Dow swept to a 1%weekly gain, advancing 13.7% since Jan. 1, and the Nasdaq Composite powered 1.9%higher for the week and 13.6% on the year.</p>\n<p>Back on Earth</p>\n<p>Daily life in the U.S. already has returned 80% \"back to normal\" according to this chart from Columbia Threadneedle, which measures things that include domestic travel, the return to offices and schools, as well as bricks-and-mortar shopping and dining out.</p>\n<p><img src=\"https://static.tigerbbs.com/2f9f33b68cc0d4654aba0aa60780d9f6\" tg-width=\"620\" tg-height=\"358\" referrerpolicy=\"no-referrer\"></p>\n<p>Friday's strong jobs report also pointed to continued healing in the U.S. labor market in June , but at a pace that may require more than a year for employment to return to pre-COVID levels.</p>\n<p>\"What the Fed cleverly did is shift the onus to the jobs market way from inflation,\" said George Goncalves, head of U.S. macro strategy at MUFG Securities Americas, referring to when the central bank might tweak its easy-money policies.</p>\n<p>\"If we are doing a hand off, getting back to normal business active, not just depending on stimulus, then companies have to hire and put more people back to work,\" he told MarketWatch. \"It is super critical.\"</p>\n<p>This week will be a short week though, with the U.S. July 4 holiday and markets closed Monday. But there will be updates on service sector activity in June on Tuesday from both IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> and ISM, followed by May job openings data and minutes from the Fed's latest Federal Open Market Committee on Wednesday.</p>\n<p>\"We are eyes wide open,\" said Caputo at J O Hambro, adding that European markets could still push higher, given that the region remains in an earlier stage of recovery than the U.S. and with its approval last week of sweeping a climate law , dubbed the European Green Deal.</p>\n<p>\"The crisis brought Europe together.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What to expect if 'peak everything' already has happened and markets feel the force of gravity again</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat to expect if 'peak everything' already has happened and markets feel the force of gravity again\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/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-07-05 19:02</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>NASA ranks the lack of gravity as a top 5 risk of human space travel.</p>\n<p>But gravity also has emerged as a concern for soaring U.S. stocks, bond prices and other financial assets as the force of extreme fiscal stimulus, meant to get the U.S. economy to the other side of the pandemic, begins to ease up.</p>\n<p>After a stunning first-half, the rest of 2021 could be poised for a slower pace of U.S. economic expansion and for the rate of inflation to come back down to earth.</p>\n<p>A bit more grounding wouldn't entirely be a bad thing for financial markets either, according to investors and analysts who spoke with MarketWatch about what to expect in the year's second half, as the dust settles with the American economy recovering and trillions of dollars worth of Washington fiscal stimulus fading into the background.</p>\n<p>\"It is very possible that we have seen peak everything,\" said Giorgio Caputo, head of the multi-asset team at J O Hambro Capital Management. \"But that doesn't mean we can't have very solid continued growth in the recovery.\"</p>\n<p>Like the pace of \"revenge travel growth forecast for GDP in the second-quarter.</p>\n<p>\"In terms of GPD numbers, it will be hard to have year-over-year growth rates that rival what the second quarter of 2021 is expected to look like, relative to the second-quarter of 2020, when the whole world was shut down,\" Caputo said.</p>\n<p>\"But you've still got monetary policy that's incredibly accommodative, and will be for a long time.\"</p>\n<p>A lofty perch</p>\n<p>The major U.S. stock indexes finished the first week of the third quarter at all-time highs , after the S&amp;P 500 booked the best five quarters of percentage gains since the second-quarter of 1936, according to Dow Jones Market Data.</p>\n<p>Supply of U.S. corporate bonds <a href=\"https://laohu8.com/S/LQD\">$(LQD)$</a> -- and even demand in the sleepy municipal-bond market of the post-2008 financial crisis era.</p>\n<p>Issuance of U.S. investment-grade corporate bonds hit $860 billion in the year's first half, the second-highest tally ever, after last year's $1.2 trillion boom, according to BofA Global analysts.</p>\n<p>\"Companies still carry sizable cash war chests accumulated last year,\" the BofA team wrote, in a weekly note. \"On the other hand demand creates supply, and the combination of historically low yields and spreads at post-crisis tights may attract opportunistic issuance.\"</p>\n<p>It isn't only U.S. companies sitting on extra pandemic cash. The rate of U.S. personal saving tumbled to a still-elevated 12.4% in May from its highest on record at 33.7% in April 2020, as households squirreled away extra government aid. Unleashing that cash may sustain economic growth this year.</p>\n<p>Still, the bond market has been signaling potential trouble ahead for the U.S. economy, in terms of the Federal Reserve reaching its 2% inflation target over the longer run, with the 10-year Treasury yield at1.434% Friday, its lowest since March 2.</p>\n<p>\"That is spurring some desire to have growth stocks,\" said Robert Pavlik, senior portfolio manager, Dakota Wealth Management, of the thinking that Fed support could be harder to dial back if the economy struggles to grow.</p>\n<p>The S&amp;P 500 ended the week up 1.7%, and 15.9% higher on the year thus far, while its growth segment rose1.6% and 14.3%, respectively. The Dow swept to a 1%weekly gain, advancing 13.7% since Jan. 1, and the Nasdaq Composite powered 1.9%higher for the week and 13.6% on the year.</p>\n<p>Back on Earth</p>\n<p>Daily life in the U.S. already has returned 80% \"back to normal\" according to this chart from Columbia Threadneedle, which measures things that include domestic travel, the return to offices and schools, as well as bricks-and-mortar shopping and dining out.</p>\n<p><img src=\"https://static.tigerbbs.com/2f9f33b68cc0d4654aba0aa60780d9f6\" tg-width=\"620\" tg-height=\"358\" referrerpolicy=\"no-referrer\"></p>\n<p>Friday's strong jobs report also pointed to continued healing in the U.S. labor market in June , but at a pace that may require more than a year for employment to return to pre-COVID levels.</p>\n<p>\"What the Fed cleverly did is shift the onus to the jobs market way from inflation,\" said George Goncalves, head of U.S. macro strategy at MUFG Securities Americas, referring to when the central bank might tweak its easy-money policies.</p>\n<p>\"If we are doing a hand off, getting back to normal business active, not just depending on stimulus, then companies have to hire and put more people back to work,\" he told MarketWatch. \"It is super critical.\"</p>\n<p>This week will be a short week though, with the U.S. July 4 holiday and markets closed Monday. But there will be updates on service sector activity in June on Tuesday from both IHS <a href=\"https://laohu8.com/S/MRKT\">Markit</a> and ISM, followed by May job openings data and minutes from the Fed's latest Federal Open Market Committee on Wednesday.</p>\n<p>\"We are eyes wide open,\" said Caputo at J O Hambro, adding that European markets could still push higher, given that the region remains in an earlier stage of recovery than the U.S. and with its approval last week of sweeping a climate law , dubbed the European Green Deal.</p>\n<p>\"The crisis brought Europe together.\"</p>\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","LQD":"债券指数ETF-iShares iBoxx投资级公司债"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148980793","content_text":"NASA ranks the lack of gravity as a top 5 risk of human space travel.\nBut gravity also has emerged as a concern for soaring U.S. stocks, bond prices and other financial assets as the force of extreme fiscal stimulus, meant to get the U.S. economy to the other side of the pandemic, begins to ease up.\nAfter a stunning first-half, the rest of 2021 could be poised for a slower pace of U.S. economic expansion and for the rate of inflation to come back down to earth.\nA bit more grounding wouldn't entirely be a bad thing for financial markets either, according to investors and analysts who spoke with MarketWatch about what to expect in the year's second half, as the dust settles with the American economy recovering and trillions of dollars worth of Washington fiscal stimulus fading into the background.\n\"It is very possible that we have seen peak everything,\" said Giorgio Caputo, head of the multi-asset team at J O Hambro Capital Management. \"But that doesn't mean we can't have very solid continued growth in the recovery.\"\nLike the pace of \"revenge travel growth forecast for GDP in the second-quarter.\n\"In terms of GPD numbers, it will be hard to have year-over-year growth rates that rival what the second quarter of 2021 is expected to look like, relative to the second-quarter of 2020, when the whole world was shut down,\" Caputo said.\n\"But you've still got monetary policy that's incredibly accommodative, and will be for a long time.\"\nA lofty perch\nThe major U.S. stock indexes finished the first week of the third quarter at all-time highs , after the S&P 500 booked the best five quarters of percentage gains since the second-quarter of 1936, according to Dow Jones Market Data.\nSupply of U.S. corporate bonds $(LQD)$ -- and even demand in the sleepy municipal-bond market of the post-2008 financial crisis era.\nIssuance of U.S. investment-grade corporate bonds hit $860 billion in the year's first half, the second-highest tally ever, after last year's $1.2 trillion boom, according to BofA Global analysts.\n\"Companies still carry sizable cash war chests accumulated last year,\" the BofA team wrote, in a weekly note. \"On the other hand demand creates supply, and the combination of historically low yields and spreads at post-crisis tights may attract opportunistic issuance.\"\nIt isn't only U.S. companies sitting on extra pandemic cash. The rate of U.S. personal saving tumbled to a still-elevated 12.4% in May from its highest on record at 33.7% in April 2020, as households squirreled away extra government aid. Unleashing that cash may sustain economic growth this year.\nStill, the bond market has been signaling potential trouble ahead for the U.S. economy, in terms of the Federal Reserve reaching its 2% inflation target over the longer run, with the 10-year Treasury yield at1.434% Friday, its lowest since March 2.\n\"That is spurring some desire to have growth stocks,\" said Robert Pavlik, senior portfolio manager, Dakota Wealth Management, of the thinking that Fed support could be harder to dial back if the economy struggles to grow.\nThe S&P 500 ended the week up 1.7%, and 15.9% higher on the year thus far, while its growth segment rose1.6% and 14.3%, respectively. The Dow swept to a 1%weekly gain, advancing 13.7% since Jan. 1, and the Nasdaq Composite powered 1.9%higher for the week and 13.6% on the year.\nBack on Earth\nDaily life in the U.S. already has returned 80% \"back to normal\" according to this chart from Columbia Threadneedle, which measures things that include domestic travel, the return to offices and schools, as well as bricks-and-mortar shopping and dining out.\n\nFriday's strong jobs report also pointed to continued healing in the U.S. labor market in June , but at a pace that may require more than a year for employment to return to pre-COVID levels.\n\"What the Fed cleverly did is shift the onus to the jobs market way from inflation,\" said George Goncalves, head of U.S. macro strategy at MUFG Securities Americas, referring to when the central bank might tweak its easy-money policies.\n\"If we are doing a hand off, getting back to normal business active, not just depending on stimulus, then companies have to hire and put more people back to work,\" he told MarketWatch. \"It is super critical.\"\nThis week will be a short week though, with the U.S. July 4 holiday and markets closed Monday. But there will be updates on service sector activity in June on Tuesday from both IHS Markit and ISM, followed by May job openings data and minutes from the Fed's latest Federal Open Market Committee on Wednesday.\n\"We are eyes wide open,\" said Caputo at J O Hambro, adding that European markets could still push higher, given that the region remains in an earlier stage of recovery than the U.S. and with its approval last week of sweeping a climate law , dubbed the European Green Deal.\n\"The crisis brought Europe together.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154171075,"gmtCreate":1625492866397,"gmtModify":1703742660535,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"I hope amazon can faster grow up","listText":"I hope amazon can faster grow up","text":"I hope amazon can faster grow up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/154171075","repostId":"1157317474","repostType":4,"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154173443,"gmtCreate":1625492815282,"gmtModify":1703742661196,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Waiting","listText":"Waiting","text":"Waiting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/154173443","repostId":"1166963826","repostType":4,"repost":{"id":"1166963826","pubTimestamp":1625486061,"share":"https://www.laohu8.com/m/news/1166963826?lang=&edition=full","pubTime":"2021-07-05 19:54","market":"us","language":"en","title":"US IPO This Week: Just 2 IPOs scheduled for the shortened holiday week","url":"https://stock-news.laohu8.com/highlight/detail?id=1166963826","media":"renaissancecap...","summary":"Following its busiest week in over a decade, the US IPO market is taking a breather after the holida","content":"<p>Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.</p>\n<p>While the calendar is quiet at the moment, several companies are primed to launch, including luxury social club&nbsp;<b>Membership Collective Group</b>(MCG), Wahlberg-backed fitness franchise&nbsp;<b>F45 Training</b>(FXLV), database provider&nbsp;<b>Couchbase</b>(BASE), and consumer banking platform<b>BlendLabs</b>(BLND).</p>\n<p>Chinese healthcare data company&nbsp;<b>LinkDoc Technology</b>(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.</p>\n<p>OTC-list&nbsp;<b>Minim</b>(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead.&nbsp;Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.</p>\n<p><img src=\"https://static.tigerbbs.com/003a0748043153c660ff267811776609\" tg-width=\"1421\" tg-height=\"362\" referrerpolicy=\"no-referrer\"></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 This Week: Just 2 IPOs scheduled for the shortened holiday 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 This Week: Just 2 IPOs scheduled for the shortened holiday week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-05 19:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/83625/US-IPO-Week-Ahead-Just-2-IPOs-scheduled-for-the-shortened-holiday-week><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.\nWhile the calendar is quiet at the ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/83625/US-IPO-Week-Ahead-Just-2-IPOs-scheduled-for-the-shortened-holiday-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MINM":"Minim Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/83625/US-IPO-Week-Ahead-Just-2-IPOs-scheduled-for-the-shortened-holiday-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166963826","content_text":"Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.\nWhile the calendar is quiet at the moment, several companies are primed to launch, including luxury social club Membership Collective Group(MCG), Wahlberg-backed fitness franchise F45 Training(FXLV), database provider Couchbase(BASE), and consumer banking platformBlendLabs(BLND).\nChinese healthcare data company LinkDoc Technology(LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.\nOTC-list Minim(MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead. Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.","news_type":1},"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155659459,"gmtCreate":1625415794471,"gmtModify":1703741486183,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155659459","repostId":"1133195819","repostType":4,"isVote":1,"tweetType":1,"viewCount":70,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155659141,"gmtCreate":1625415736083,"gmtModify":1703741485034,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good to monitor performance&nbsp;","listText":"Good to monitor performance&nbsp;","text":"Good to monitor performance","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155659141","repostId":"2148073809","repostType":4,"isVote":1,"tweetType":1,"viewCount":296,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155650270,"gmtCreate":1625415608490,"gmtModify":1703741484223,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/155650270","repostId":"1170195217","repostType":4,"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155650880,"gmtCreate":1625415557240,"gmtModify":1703741484061,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155650880","repostId":"1192425829","repostType":4,"repost":{"id":"1192425829","pubTimestamp":1625362308,"share":"https://www.laohu8.com/m/news/1192425829?lang=&edition=full","pubTime":"2021-07-04 09:31","market":"us","language":"en","title":"Second-Half 2021: Market Forecasts, Thoughts and Observations","url":"https://stock-news.laohu8.com/highlight/detail?id=1192425829","media":"The Street","summary":"The stock market has given us some incredible returns in the past year or two but there are some war","content":"<blockquote>\n The stock market has given us some incredible returns in the past year or two but there are some warning signs developing -- and one key date to keep an eye on.\n</blockquote>\n<p>The stock market, commodity markets and fixed-income markets have been on some wild rides the past 18 months. We penned 2021 forecast pieces back in January (read<b>here</b>and<b>here</b>), but a fresh look at things for the balance of the year seems like a good idea with commodity plays on the rise, oil prices coming on strong while other areas of the market are cooling.</p>\n<p>Let's start our analysis with some monthly candlestick charts.</p>\n<p><b>Candlestick AnalysisDow Jones Industrials</b></p>\n<p>In this monthly Japanese candlestick chart of the Dow Jones Industrial Average (DJIA), below, we can see that prices have made a huge rise over the past decade and a very sharp advance since March of 2020. Taking a little liberty in our methodology we can see an 8 to 10 record high advance since the 2020 pandemic low. Notice the slowing pace of the 12-month price momentum study in the lower panel.</p>\n<p><img src=\"https://static.tigerbbs.com/8c0c65a961cdf2a9b6bdba9757ca8c5d\" tg-width=\"720\" tg-height=\"510\" referrerpolicy=\"no-referrer\"><b>S&amp;P 500</b></p>\n<p>In this monthly Japanese candlestick chart of the S&amp;P 500 Index (SPX) below, we can see another big advance over the past 10 years. The index made a sideways consolidation pattern in 2015-2016 around 2,000 to 2,200 and we have for most part doubled from there. I would not be surprised to see some significant profit-taking as the SPX approached 4,400. Momentum has been slowing here too.</p>\n<p><img src=\"https://static.tigerbbs.com/72a594dc06dc6364a1f4432334018a95\" tg-width=\"720\" tg-height=\"510\" referrerpolicy=\"no-referrer\"><b>Nasdaq</b></p>\n<p>In this monthly Japanese candlestick chart of the Nasdaq, below, we can see that prices have doubled from their consolidation pattern in 2018 and 2019 in the 7,000 area. Prices have nearly tripled from their consolidation around 5,000 in 2015-2016. Yes, the momentum study is slowing.</p>\n<p><img src=\"https://static.tigerbbs.com/a32c8a3b8cbd6d84dc3c316188d0714c\" tg-width=\"720\" tg-height=\"510\" referrerpolicy=\"no-referrer\"><b>Russell 2000</b></p>\n<p>In this monthly candlestick chart of the Russell 2000 index (RUT) we can see that prices have more than doubled from their March 2020 low. This could take your breath away. With the string of white candles and weakening momentum we want to be more cautious as we move forward in the third quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/00e2eb68915aa7fe3a35df2b5cca4c7c\" tg-width=\"720\" tg-height=\"510\" referrerpolicy=\"no-referrer\">All these charts (above) show the 8 to 10 record high pattern so we should be on our guard for a top reversal pattern.</p>\n<p><b>Advance-Decline Analysis</b></p>\n<p>Now, let's turn our attention to the Advance-Decline line.</p>\n<p><b>Dow Jones Industrials</b></p>\n<p>In this daily candlestick chart of the DJIA, below, we show the Advance-Decline line which has been moving sideways since early May. This difference between the price action is a bearish divergence but the DJIA is a narrow average with only 30 stocks.</p>\n<p><img src=\"https://static.tigerbbs.com/5af49f53b61d7234c47302a43ef8fc54\" tg-width=\"1000\" tg-height=\"622\" referrerpolicy=\"no-referrer\"><b>S&amp;P 500</b></p>\n<p>In this chart of the S&amp;P 500 and its Advance-Decline line, below, we can see that prices and the Advance-Decline line are pointed up so a bearish divergence has not started.</p>\n<p><img src=\"https://static.tigerbbs.com/6f76b13060f5ac582155923264b7fb2f\" tg-width=\"1000\" tg-height=\"622\" referrerpolicy=\"no-referrer\"><b>Nasdaq</b></p>\n<p>In this chart of the Nasdaq, below, we can see a significant bearish divergence. The Nasdaq has been making new highs but the Advance-Decline line has been moving sideways to lower from February.</p>\n<p><img src=\"https://static.tigerbbs.com/c202ca833085d8ae21f804e01da1d20e\" tg-width=\"1000\" tg-height=\"622\" referrerpolicy=\"no-referrer\"><b>Nasdaq 100</b></p>\n<p>In this chart of Nasdaq 100 and its Advance-Decline line, below, we see prices and the indicator going up together. No bearish divergence here.<img src=\"https://static.tigerbbs.com/02f49df814666506de6bd3a8f8cff358\" tg-width=\"1000\" tg-height=\"622\" referrerpolicy=\"no-referrer\"><b>Sectors</b></p>\n<p>The marketplace can be broken down into 11 sectors but I want to cover just part of the list today.<b>Energy</b>In this weekly candlestick chart of the (XLE) , the S&amp;P Energy sector ETF, below, we can see that prices have doubled from their pandemic low. Trading volume has been very heavy and the weekly On-Balance-Volume has been stalled the past four months. The 12-week price momentum study has been weakening for a bearish divergence.</p>\n<p><img src=\"https://static.tigerbbs.com/c6c7c0cb796bbdd57de9aba933c615ce\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"></p>\n<p>Two energy names that could rally further in the third quarter are EOG Resources (EOG) and ConocoPhillips (COP) . Here are the charts.</p>\n<p><img src=\"https://static.tigerbbs.com/7d2fc7721f85cac4b418a821156c714f\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/874820e1c1c54a567c399f5129e88676\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/fc072387bc975d38d92af5b6b3de16ac\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8d2822d20c835ce4f4860d5eb45212cb\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"><b>Financials</b></p>\n<p>In this daily bar chart of the (XLF) ,&nbsp; the Financial sector ETF, below, we can see that prices have begun a topping phase. Prices have broken below the cresting 50-day moving average line. The On-Balance-Volume line has weakened from early June and the Moving Average Convergence Divergence (MACD) oscillator has fallen below the zero line for an outright sell signal.</p>\n<p><img src=\"https://static.tigerbbs.com/bddfbb55fad602b4a29ff4ef1ba47e0f\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"><b>Technology</b></p>\n<p>In this weekly Japanese candlestick chart of the (XLK) , the Technology sector ETF, below, we can see that prices have more than doubled from their pandemic low. The trading volume has diminished since March 2020 and the weekly On-Balance-Volume line has been stuck in a sideways trend for the past 12 months. The 12-week price momentum study in the bottom panel shows lower highs being made the past year. This is a significant bearish divergence.</p>\n<p><img src=\"https://static.tigerbbs.com/c9d9a652c4c72b421556bfbd90dd8d44\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"><b>Industrials</b></p>\n<p>In this daily bar chart of the (XLI) &nbsp;, the Industrial sector ETF, below, we can see a weakening picture. Prices have slipped below the cresting 50-day moving average line. The On-Balance-Volume line has weakened the past two months and the MACD oscillator is below the zero line in sell territory.</p>\n<p><img src=\"https://static.tigerbbs.com/47838029e80d6b87a83abb9f1352bdaf\" tg-width=\"720\" tg-height=\"820\" referrerpolicy=\"no-referrer\"><b>Bonds</b></p>\n<p>In this daily Point and Figure chart of the (TLT) , the iShares 20+ year Treasury Bond ETF, below, we can see a potential upside price target in the $165 area.</p>\n<p><img src=\"https://static.tigerbbs.com/587f7bae63415985c849540d27b7ffaa\" tg-width=\"1000\" tg-height=\"992\" referrerpolicy=\"no-referrer\"><b>U.S. Dollar</b></p>\n<p>In this daily Japanese candlestick chart of the U.S. Dollar Index (DXY) we can see that prices have stopped short of a test of its late March/early April highs. DXY could make a slow drift downward to retest its May lows.</p>\n<p><img src=\"https://static.tigerbbs.com/c086d11fb1d31f2710dc3752d158a2e7\" tg-width=\"720\" tg-height=\"510\" referrerpolicy=\"no-referrer\"><b>Mark Your Calendars</b></p>\n<p>A technical service that I have been using since the mid-1990s (www.pfr.com) is anticipating a large-scale \"trend change\" on or about Aug. 2 and this bears watching. This could mark the start of perhaps a 10% correction in the major averages. The next trend change is anticipated for late October, which could be the start of a year-end rally. We want to pay closer attention to the advance-decline numbers and price action as we approach Aug. 2.</p>\n<p><b>Sentiment</b></p>\n<p>No discussion about the stock market would be complete without some discussion of sentiment. There are plenty of \"signs\" of the stock market being out over its skis.</p>\n<p>I see a number of market letters and commentary from fellow technical analysts and they are all bullish. I get emails from Real Money subscribers asking about this stock or that stock and I have two observations:</p>\n<p>1. The names they are asking about seem to be more speculative in nature. I cannot remember the last time someone emailed me about a boring utility stock.</p>\n<p>2. The second thing that has struck me about the emails is the failure to recognize risk. Everyone wants to know the next highest price target but they never ask about where to move a stop up.</p>\n<p>Sentiment is not a precise indicator and much of it is anecdotal in nature and hard to quantify. The anticipated Robinhood IPO could mark a turning point.</p>\n<p><b>Bottom-Line Strategy</b></p>\n<p>The stock market has given us some incredible returns in the past year or two but there are some warning signs developing and traders need to start leaning in the other direction.</p>\n<p>Consider adding to commodity plays as they could be the outperformers of the third quarter.</p>\n<p>Consider becoming a scale-up profit taker. Continue to raise your stop protection to lock in more gains. Pay closer attention to where in the range prices are closing. Highs are typically made when prices close near the high of the day.Is the On-Balance-Volume line weakening as volume increases on days when the market or your favorite stock declines?</p>\n<p>Pay closer attention to the news and watch for stocks and the market to decline on bullish news -- this tells us that the news has been discounted.</p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Second-Half 2021: Market Forecasts, Thoughts and Observations</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\">\nSecond-Half 2021: Market Forecasts, Thoughts and Observations\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 09:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://realmoney.thestreet.com/investing/stocks/second-half-2021-market-forecasts-thoughts-and-observations-15702152?puc=yahoo&cm_ven=YAHOO><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The stock market has given us some incredible returns in the past year or two but there are some warning signs developing -- and one key date to keep an eye on.\n\nThe stock market, commodity markets ...</p>\n\n<a href=\"https://realmoney.thestreet.com/investing/stocks/second-half-2021-market-forecasts-thoughts-and-observations-15702152?puc=yahoo&cm_ven=YAHOO\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://realmoney.thestreet.com/investing/stocks/second-half-2021-market-forecasts-thoughts-and-observations-15702152?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192425829","content_text":"The stock market has given us some incredible returns in the past year or two but there are some warning signs developing -- and one key date to keep an eye on.\n\nThe stock market, commodity markets and fixed-income markets have been on some wild rides the past 18 months. We penned 2021 forecast pieces back in January (readhereandhere), but a fresh look at things for the balance of the year seems like a good idea with commodity plays on the rise, oil prices coming on strong while other areas of the market are cooling.\nLet's start our analysis with some monthly candlestick charts.\nCandlestick AnalysisDow Jones Industrials\nIn this monthly Japanese candlestick chart of the Dow Jones Industrial Average (DJIA), below, we can see that prices have made a huge rise over the past decade and a very sharp advance since March of 2020. Taking a little liberty in our methodology we can see an 8 to 10 record high advance since the 2020 pandemic low. Notice the slowing pace of the 12-month price momentum study in the lower panel.\nS&P 500\nIn this monthly Japanese candlestick chart of the S&P 500 Index (SPX) below, we can see another big advance over the past 10 years. The index made a sideways consolidation pattern in 2015-2016 around 2,000 to 2,200 and we have for most part doubled from there. I would not be surprised to see some significant profit-taking as the SPX approached 4,400. Momentum has been slowing here too.\nNasdaq\nIn this monthly Japanese candlestick chart of the Nasdaq, below, we can see that prices have doubled from their consolidation pattern in 2018 and 2019 in the 7,000 area. Prices have nearly tripled from their consolidation around 5,000 in 2015-2016. Yes, the momentum study is slowing.\nRussell 2000\nIn this monthly candlestick chart of the Russell 2000 index (RUT) we can see that prices have more than doubled from their March 2020 low. This could take your breath away. With the string of white candles and weakening momentum we want to be more cautious as we move forward in the third quarter.\nAll these charts (above) show the 8 to 10 record high pattern so we should be on our guard for a top reversal pattern.\nAdvance-Decline Analysis\nNow, let's turn our attention to the Advance-Decline line.\nDow Jones Industrials\nIn this daily candlestick chart of the DJIA, below, we show the Advance-Decline line which has been moving sideways since early May. This difference between the price action is a bearish divergence but the DJIA is a narrow average with only 30 stocks.\nS&P 500\nIn this chart of the S&P 500 and its Advance-Decline line, below, we can see that prices and the Advance-Decline line are pointed up so a bearish divergence has not started.\nNasdaq\nIn this chart of the Nasdaq, below, we can see a significant bearish divergence. The Nasdaq has been making new highs but the Advance-Decline line has been moving sideways to lower from February.\nNasdaq 100\nIn this chart of Nasdaq 100 and its Advance-Decline line, below, we see prices and the indicator going up together. No bearish divergence here.Sectors\nThe marketplace can be broken down into 11 sectors but I want to cover just part of the list today.EnergyIn this weekly candlestick chart of the (XLE) , the S&P Energy sector ETF, below, we can see that prices have doubled from their pandemic low. Trading volume has been very heavy and the weekly On-Balance-Volume has been stalled the past four months. The 12-week price momentum study has been weakening for a bearish divergence.\n\nTwo energy names that could rally further in the third quarter are EOG Resources (EOG) and ConocoPhillips (COP) . Here are the charts.\nFinancials\nIn this daily bar chart of the (XLF) ,  the Financial sector ETF, below, we can see that prices have begun a topping phase. Prices have broken below the cresting 50-day moving average line. The On-Balance-Volume line has weakened from early June and the Moving Average Convergence Divergence (MACD) oscillator has fallen below the zero line for an outright sell signal.\nTechnology\nIn this weekly Japanese candlestick chart of the (XLK) , the Technology sector ETF, below, we can see that prices have more than doubled from their pandemic low. The trading volume has diminished since March 2020 and the weekly On-Balance-Volume line has been stuck in a sideways trend for the past 12 months. The 12-week price momentum study in the bottom panel shows lower highs being made the past year. This is a significant bearish divergence.\nIndustrials\nIn this daily bar chart of the (XLI)  , the Industrial sector ETF, below, we can see a weakening picture. Prices have slipped below the cresting 50-day moving average line. The On-Balance-Volume line has weakened the past two months and the MACD oscillator is below the zero line in sell territory.\nBonds\nIn this daily Point and Figure chart of the (TLT) , the iShares 20+ year Treasury Bond ETF, below, we can see a potential upside price target in the $165 area.\nU.S. Dollar\nIn this daily Japanese candlestick chart of the U.S. Dollar Index (DXY) we can see that prices have stopped short of a test of its late March/early April highs. DXY could make a slow drift downward to retest its May lows.\nMark Your Calendars\nA technical service that I have been using since the mid-1990s (www.pfr.com) is anticipating a large-scale \"trend change\" on or about Aug. 2 and this bears watching. This could mark the start of perhaps a 10% correction in the major averages. The next trend change is anticipated for late October, which could be the start of a year-end rally. We want to pay closer attention to the advance-decline numbers and price action as we approach Aug. 2.\nSentiment\nNo discussion about the stock market would be complete without some discussion of sentiment. There are plenty of \"signs\" of the stock market being out over its skis.\nI see a number of market letters and commentary from fellow technical analysts and they are all bullish. I get emails from Real Money subscribers asking about this stock or that stock and I have two observations:\n1. The names they are asking about seem to be more speculative in nature. I cannot remember the last time someone emailed me about a boring utility stock.\n2. The second thing that has struck me about the emails is the failure to recognize risk. Everyone wants to know the next highest price target but they never ask about where to move a stop up.\nSentiment is not a precise indicator and much of it is anecdotal in nature and hard to quantify. The anticipated Robinhood IPO could mark a turning point.\nBottom-Line Strategy\nThe stock market has given us some incredible returns in the past year or two but there are some warning signs developing and traders need to start leaning in the other direction.\nConsider adding to commodity plays as they could be the outperformers of the third quarter.\nConsider becoming a scale-up profit taker. Continue to raise your stop protection to lock in more gains. Pay closer attention to where in the range prices are closing. Highs are typically made when prices close near the high of the day.Is the On-Balance-Volume line weakening as volume increases on days when the market or your favorite stock declines?\nPay closer attention to the news and watch for stocks and the market to decline on bullish news -- this tells us that the news has been discounted.","news_type":1},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155650137,"gmtCreate":1625415537929,"gmtModify":1703741483738,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/155650137","repostId":"1129944702","repostType":4,"repost":{"id":"1129944702","pubTimestamp":1625364641,"share":"https://www.laohu8.com/m/news/1129944702?lang=&edition=full","pubTime":"2021-07-04 10:10","market":"us","language":"en","title":"Is the stock market closed for the July Fourth holiday? Here’s what you need to know","url":"https://stock-news.laohu8.com/highlight/detail?id=1129944702","media":"MarketWatch","summary":"Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day week","content":"<blockquote>\n <b>Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day weekend.</b>\n</blockquote>\n<p>Independence Day falls on Sunday this year, so U.S. financial markets will be closed on Monday.</p>\n<p>TheNew York Stock Exchangeand theNasdaqshut at the end of regular trade Friday.</p>\n<p>Trading in oil futuresCL.1,-0.05%and other energy products on the New York Mercantile Exchange will resume at its regular time of 6 p.m. Eastern Monday.</p>\n<p>The holiday may feel especially festive this year: after being cooped up for the past year, nearly 44 million Americans are expected to take to the road, even as gas prices hit their highest since 2014 and rental cars remain scarce.</p>\n<p>But there’s still reason to be cautious: public-health officials are nervously watching the new delta variant of COVID-19, whichhas now been found in all 50 states and Washington, D.C.Gatherings of fans for the Euro 2020 football tournament are likely to blame for the resurgence of cases there,the World Health Organization saidThursday.</p>\n<p>Risky July Fourth practices long predate COVID-19, however.The Library of Congressnotes that there were 1,531 deaths between 1903 and 1910 from “fireworks and other incidents during July 4th celebrations.” In 1909, more than 5,000 Americans were injured, leading President Taft to appeal for a “Sane Fourth.”</p>\n<p>There may be some reason to approach financial markets with some caution, as well. All threebenchmark indexes swept to fresh highs Friday, marking the seventh in a row for the S&amp;P 500 indexSPX,+0.75%.</p>\n<p>The S&amp;P, along with the Dow Jones Industrial AverageDJIA,+0.44%and Nasdaq Composite indexCOMP,+0.81%booked their best first half of the year since 2019, according to Dow Jones Market data.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the stock market closed for the July Fourth holiday? Here’s what you need to know</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\">\nIs the stock market closed for the July Fourth holiday? Here’s what you need to know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 10:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/heres-what-you-need-to-know-about-markets-and-the-july-fourth-u-s-holiday-11625240660?mod=hp_LATEST&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364288&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364294><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day weekend.\n\nIndependence Day falls on Sunday this year, so U.S. financial markets will be closed on Monday...</p>\n\n<a href=\"https://www.marketwatch.com/story/heres-what-you-need-to-know-about-markets-and-the-july-fourth-u-s-holiday-11625240660?mod=hp_LATEST&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364288&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364294\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/heres-what-you-need-to-know-about-markets-and-the-july-fourth-u-s-holiday-11625240660?mod=hp_LATEST&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364288&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364294","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129944702","content_text":"Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day weekend.\n\nIndependence Day falls on Sunday this year, so U.S. financial markets will be closed on Monday.\nTheNew York Stock Exchangeand theNasdaqshut at the end of regular trade Friday.\nTrading in oil futuresCL.1,-0.05%and other energy products on the New York Mercantile Exchange will resume at its regular time of 6 p.m. Eastern Monday.\nThe holiday may feel especially festive this year: after being cooped up for the past year, nearly 44 million Americans are expected to take to the road, even as gas prices hit their highest since 2014 and rental cars remain scarce.\nBut there’s still reason to be cautious: public-health officials are nervously watching the new delta variant of COVID-19, whichhas now been found in all 50 states and Washington, D.C.Gatherings of fans for the Euro 2020 football tournament are likely to blame for the resurgence of cases there,the World Health Organization saidThursday.\nRisky July Fourth practices long predate COVID-19, however.The Library of Congressnotes that there were 1,531 deaths between 1903 and 1910 from “fireworks and other incidents during July 4th celebrations.” In 1909, more than 5,000 Americans were injured, leading President Taft to appeal for a “Sane Fourth.”\nThere may be some reason to approach financial markets with some caution, as well. All threebenchmark indexes swept to fresh highs Friday, marking the seventh in a row for the S&P 500 indexSPX,+0.75%.\nThe S&P, along with the Dow Jones Industrial AverageDJIA,+0.44%and Nasdaq Composite indexCOMP,+0.81%booked their best first half of the year since 2019, according to Dow Jones Market data.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155650071,"gmtCreate":1625415515693,"gmtModify":1703741483252,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go","listText":"Go","text":"Go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/155650071","repostId":"1109375790","repostType":4,"repost":{"id":"1109375790","pubTimestamp":1625370494,"share":"https://www.laohu8.com/m/news/1109375790?lang=&edition=full","pubTime":"2021-07-04 11:48","market":"us","language":"en","title":"Why high-quality, trustworthy companies have beaten the S&P 500 by 30%-50%","url":"https://stock-news.laohu8.com/highlight/detail?id=1109375790","media":"MarketWatch","summary":"More predictable businesses tend to be more profitable stock investments.Trust is one of the most valuable assets a company can cultivate.  Within an organization, trust percolates into culture. Outside an organization, it translates into loyalty.  Quality shareholders  who value long-term trust among all stakeholders — employees, customers and shareholders — maintain this viewpoint in their investment practice.TheTrust Across America initiative has identified the most trustworthy U.S. public co","content":"<blockquote>\n <b>More predictable businesses tend to be more profitable stock investments.</b>\n</blockquote>\n<p>Trust is one of the most valuable assets a company can cultivate.&nbsp; Within an organization, trust percolates into culture.&nbsp;Outside an organization, it translates into loyalty.&nbsp; Quality shareholders (QS) who value long-term trust among all stakeholders — employees, customers and shareholders —&nbsp;maintain this&nbsp;viewpoint in their investment practice.</p>\n<p>TheTrust Across America(TAA) initiative has identified the most&nbsp;trustworthy&nbsp;U.S. public&nbsp;companies using objective&nbsp;and quantitative&nbsp;indicators including accounting&nbsp;conservativeness&nbsp;and financial stability, as well as a secondary screen of more subjective criteria such as employee reviews and news reports.</p>\n<p>Companies regarded as trustworthy also tend to rate highly in rankings of shareholder quality produced by the&nbsp;Quality Shareholders Initiative&nbsp;(QSI), which I run, as well as the proprietary database of&nbsp;EQX, which I use to cross-check the QSI data.</p>\n<p>TAA’s assessment of the S&amp;P 500SPX,+0.75%in 2020 identified 51 companies, of which 49&nbsp;are also included in the QSI rankings. Comparing the two, more than one-fourth of the top TAA companies are in the top decile of the QSI; two-thirds are in the top quarter, and all but two (92%) are in the top half.</p>\n<p>Notably, both the TAA top 10 and the QSI Top 25 outperformed the S&amp;P 500 by 30% and 50%, respectively, in recent five-year periods. Here’s a sampling of companies scoring high on both trust and quality:</p>\n<p>Texas InstrumentsTXN,+0.72%makes most of its revenue selling computer chips and is among the world’s largest manufacturers of semiconductors. Founded by a group of electrical engineers in 1951, the company boasts a culture of intelligent innovation. Its business is protected by four protective “moats” including: manufacturing and technology skill thanks to its employees; a broad portfolio of processing chips to meet a wide range of customer needs; the reach of its market channels thanks to both, and its diversity and longevity.</p>\n<p>For investors, this adds up to a winning recipe, particularly when combined with Texas Instruments’s capital management strategy, which is to maximize the company’s long-term growth in free cash-flow per share and to&nbsp;allocate such capital in accordance with the QS playbook&nbsp;that prioritizes wise reinvestment, disciplined acquisitions, low-priced share buybacks and shareholder dividends. Some of the company’s notable QSs include: Alliance Bernstein, Bessemer Group, Capital World Investors, State Farm Mutual, and T. Rowe Price Group.</p>\n<p>Another stock on this list, EcolabECL,+0.77%,is a global leader in water treatment. Founded in 1923 as the Economics Laboratory, its long-term outlook shows in the longevity of senior leadership: the company has had just seven CEOs in almost 100 years of existence.</p>\n<p>Those CEOs inculcated a culture of customer care, a relentless focus on helping customers solve problems and meet goals. A learning organization, such a performance culture permeates the business from production to sales, as employees commit to the long-term goal of being indispensable to customers. Management rewards that employee conviction with long-term incentives and a high degree of autonomy.&nbsp;Ecolab’s QSs include: Cantillon Capital, Clearbridge Investments, Franklin Resources, and the Gates Foundation.</p>\n<p>Finally, consider Ball CorporationBLL,-0.68%,the world’s largest manufacturer of recyclable containers.&nbsp; Founded in the late 1800s by two brother-entrepreneurs who foresaw that the Mason jar patent was about to expire and built a glassblowing facility to manufacture such jars.</p>\n<p>Ball remains characterized by a culture of family, innovation and natural-resources conscientiousness. For instance, Ball foresaw the ecological and commercial need to pivot away from PET and glass containers, both costly to recycle and posing environmental damage, and towards eco-friendly and profitable aluminum. The company adopts economic value added (EVA) to assure every dollar is well-spent, long-term employee incentive compensation to reward long-term sustainable growth, and a spirit of entrepreneurial freedom. QSs include: Chilton Investment Co.; T. Rowe Price; Wellington&nbsp;Management Group and&nbsp;Winslow Capital Management.</p>\n<p>While some investors focus solely on the bottom line and others only on signals of corporate virtue, QSs are holistic, considering the inherent relationship between trust and long-term value. Nebulous as the notion of trust in corporate culture might seem, it’s a profitable as well as ethical value to probe.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why high-quality, trustworthy companies have beaten the S&P 500 by 30%-50%</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 high-quality, trustworthy companies have beaten the S&P 500 by 30%-50%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/why-high-quality-trustworthy-companies-have-beaten-the-s-p-500-by-30-50-11625020379?mod=mw_latestnews><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>More predictable businesses tend to be more profitable stock investments.\n\nTrust is one of the most valuable assets a company can cultivate.  Within an organization, trust percolates into culture. ...</p>\n\n<a href=\"https://www.marketwatch.com/story/why-high-quality-trustworthy-companies-have-beaten-the-s-p-500-by-30-50-11625020379?mod=mw_latestnews\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/why-high-quality-trustworthy-companies-have-beaten-the-s-p-500-by-30-50-11625020379?mod=mw_latestnews","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109375790","content_text":"More predictable businesses tend to be more profitable stock investments.\n\nTrust is one of the most valuable assets a company can cultivate.  Within an organization, trust percolates into culture. Outside an organization, it translates into loyalty.  Quality shareholders (QS) who value long-term trust among all stakeholders — employees, customers and shareholders — maintain this viewpoint in their investment practice.\nTheTrust Across America(TAA) initiative has identified the most trustworthy U.S. public companies using objective and quantitative indicators including accounting conservativeness and financial stability, as well as a secondary screen of more subjective criteria such as employee reviews and news reports.\nCompanies regarded as trustworthy also tend to rate highly in rankings of shareholder quality produced by the Quality Shareholders Initiative (QSI), which I run, as well as the proprietary database of EQX, which I use to cross-check the QSI data.\nTAA’s assessment of the S&P 500SPX,+0.75%in 2020 identified 51 companies, of which 49 are also included in the QSI rankings. Comparing the two, more than one-fourth of the top TAA companies are in the top decile of the QSI; two-thirds are in the top quarter, and all but two (92%) are in the top half.\nNotably, both the TAA top 10 and the QSI Top 25 outperformed the S&P 500 by 30% and 50%, respectively, in recent five-year periods. Here’s a sampling of companies scoring high on both trust and quality:\nTexas InstrumentsTXN,+0.72%makes most of its revenue selling computer chips and is among the world’s largest manufacturers of semiconductors. Founded by a group of electrical engineers in 1951, the company boasts a culture of intelligent innovation. Its business is protected by four protective “moats” including: manufacturing and technology skill thanks to its employees; a broad portfolio of processing chips to meet a wide range of customer needs; the reach of its market channels thanks to both, and its diversity and longevity.\nFor investors, this adds up to a winning recipe, particularly when combined with Texas Instruments’s capital management strategy, which is to maximize the company’s long-term growth in free cash-flow per share and to allocate such capital in accordance with the QS playbook that prioritizes wise reinvestment, disciplined acquisitions, low-priced share buybacks and shareholder dividends. Some of the company’s notable QSs include: Alliance Bernstein, Bessemer Group, Capital World Investors, State Farm Mutual, and T. Rowe Price Group.\nAnother stock on this list, EcolabECL,+0.77%,is a global leader in water treatment. Founded in 1923 as the Economics Laboratory, its long-term outlook shows in the longevity of senior leadership: the company has had just seven CEOs in almost 100 years of existence.\nThose CEOs inculcated a culture of customer care, a relentless focus on helping customers solve problems and meet goals. A learning organization, such a performance culture permeates the business from production to sales, as employees commit to the long-term goal of being indispensable to customers. Management rewards that employee conviction with long-term incentives and a high degree of autonomy. Ecolab’s QSs include: Cantillon Capital, Clearbridge Investments, Franklin Resources, and the Gates Foundation.\nFinally, consider Ball CorporationBLL,-0.68%,the world’s largest manufacturer of recyclable containers.  Founded in the late 1800s by two brother-entrepreneurs who foresaw that the Mason jar patent was about to expire and built a glassblowing facility to manufacture such jars.\nBall remains characterized by a culture of family, innovation and natural-resources conscientiousness. For instance, Ball foresaw the ecological and commercial need to pivot away from PET and glass containers, both costly to recycle and posing environmental damage, and towards eco-friendly and profitable aluminum. The company adopts economic value added (EVA) to assure every dollar is well-spent, long-term employee incentive compensation to reward long-term sustainable growth, and a spirit of entrepreneurial freedom. QSs include: Chilton Investment Co.; T. Rowe Price; Wellington Management Group and Winslow Capital Management.\nWhile some investors focus solely on the bottom line and others only on signals of corporate virtue, QSs are holistic, considering the inherent relationship between trust and long-term value. Nebulous as the notion of trust in corporate culture might seem, it’s a profitable as well as ethical value to probe.","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155627757,"gmtCreate":1625415493879,"gmtModify":1703741483576,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155627757","repostId":"1189605893","repostType":4,"repost":{"id":"1189605893","pubTimestamp":1625363433,"share":"https://www.laohu8.com/m/news/1189605893?lang=&edition=full","pubTime":"2021-07-04 09:50","market":"us","language":"en","title":"When Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help.","url":"https://stock-news.laohu8.com/highlight/detail?id=1189605893","media":"Barron's","summary":"It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a time that some strategists see a potential turn ahead in the markets.Investors’ portfolios are chock-full of these stocks, leaving them less diversified for a possible turn in the market. These companies are already beginning to slow down. Take Amazon, which accounts for roughly 4% of the S&P 500—m","content":"<p>It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a time that some strategists see a potential turn ahead in the markets.</p>\n<p>Owning the Big Five—Apple(ticker: AAPL),Microsoft(MSFT),Amazon.com(AMZN),Facebook(FB), andAlphabet’sGoogle (GOOGL)—has been lucrative: These companies have logged gains of 125% to 245% since the beginning of 2019. These stocks are widely held, not just by index investors, but also among all kinds of active fund managers—including those who don’t typically own growth companies.</p>\n<p>Together, the five companies account for almost 22% of theS&amp;P 500index. Of course, the Nifty Fifty stocks dominated the 1970s, and blue-chip stalwarts such asIBM(IBM) andAT&amp;T(T) ruled the 1980s. Those companies may have wielded even more influence over the broad economy than today’s biggest companies do, but the level of market concentration is higher now, and the Big Five’s impact on the broad market is much greater because of their size, according to Howard Silverblatt, senior index analyst at S&amp;P Dow Jones Indices. Apple and Microsoft are the first U.S. stocks whose market values have soared past $2 trillion. Though it has slipped a bit this year, Apple hit peak concentration for a single stock in the S&amp;P 500 last year at about 7%, higher than IBM’s in its heyday.</p>\n<p>There are signs that investor appetite for risk is waning, which could hurt the prospects for the growth of Big Tech. There has beena selloff in speculative cornersof the market, such as cryptocurrencies and special purpose acquisition companies, better known as SPACs. And, of course, there is therising consternationabout both inflation andinterest ratesmoving higher. If the Big Fiveslow downor tumble, the entire market—including all index investors—will feel it. If these stocks decline by 10%, for instance, in order for the S&amp;P 500 to keep trading flat, the bottom 100 stocks in the index would have to rise by a collective 75%, according toGoldman Sachs.This dynamic explains why narrow market breadth has often preceded big losses.</p>\n<p><b>When Less May Be More</b></p>\n<p>These funds are more diversified than the S&amp;P 500, and could be more resilient if the tech megacaps stumble.</p>\n<p><img src=\"https://static.tigerbbs.com/d308adf067ef3205da5f7c1bddb75e77\" tg-width=\"697\" tg-height=\"366\" referrerpolicy=\"no-referrer\"></p>\n<p>Investors’ portfolios are chock-full of these stocks, leaving them less diversified for a possible turn in the market. These companies are already beginning to slow down. Take Amazon, which accounts for roughly 4% of the S&amp;P 500—more than the energy, real estate, materials, or utilities sectors. Amazon hasn’t hit an all-time high this year, and has underperformed the S&amp;P 500 by 25 percentage points since September 2020 amid questions about the company’s e-commerce growth. Add in regulatory pressure, which could make the path ahead for these companies rockier, such as a House panel’s approval of sweeping legislation last month that could curb the dominance of companies like Google and Facebook.</p>\n<p>A global recovery could also make the Big Five stocks less special. “The story line with megacap tech stocks has been that economic growth has been hard to find and rates so low that you wanted to own powerful growth stocks,” says Scott Opsal, director of research at Leuthold Group. “But for those who think the economy has room to run, you don’t have to pay up for the growth that investors were willing to pay for in 2018 or 2019.” For Opsal, the changing backdrop is reason for a barbell approach, owning some of the technology winners but also diversifying into a wider array of more value-oriented and smaller stocks.</p>\n<p>With the market so concentrated in a handful of megacap tech stocks, Opsal says that investors may want the type of funds that do what the fund consultants advise against: be willing to drift out of their lane, and be willing to not fit neatly into a growth or value category.</p>\n<p>It isn’t easy finding good fund managers with the acumen to pick the right stocks beyond the other 495, the grit to avoid the crowd, and the track record that demonstrates to investors that they can be different and correct. Performance doesn’t look all that great for managers whose wariness led them to own less of the technology darlings that drove the market to highs over the past several years. And the decision to not own any—or even just less—of these companies sometimes pushed managers out of theirMorningstarcategory into areas like large-cap blend.</p>\n<p>High active share has often been a go-to gauge for finding fund managers who look different than their benchmarks. That’s a good place to start, but different doesn’t always lead to outperformance, so Morningstar strategist Alec Lucas recommends understanding what is in the managers’ portfolios and the thinking behind the picks—as well as when they buy or sell the stocks.</p>\n<p><i>Barron’s</i>looked for large-cap growth-oriented managers that don’t usually stick too close to an index and have long, and strong, track records. We turned up both diversified and concentrated funds; some didn’t own any of the Big Five, while some owned a bit, albeit less than their peers. All may offer investors a way to tweak rather than overhaul their portfolios, giving them some more diversification while still tapping into large, growing companies.</p>\n<p><b>A Concentrated Approach</b></p>\n<p>The Akre Focus fund (AKREX) falls into the concentrated bucket. It owns about 20 well-managed companies that the managers, John Neff and Chris Cerrone, think are superior businesses and adept at reinvesting in the companies. The fund has just a 4% turnover, so it holds on to its investments for years. That has been a winning long-term strategy: Akre Focus has an 18% average annual return over the past decade, beating 84% of its peers.</p>\n<p>The past few years have been tough, though: The fund hasn’t owned the Big Five, and has just 13% of its assets in any kind of technology company, whereas most of its peers have close to a third in tech. It has averaged 22% annually over the past three years; not too shabby on an absolute basis, but landing it midpack among competitors. The managers are resolute in finding growth elsewhere. “They are tremendous businesses, but how many more times can they double in value, given their current size? Maybe many times, but it’s an important question,” says Neff. “We’ve generally focused on smaller businesses with ostensibly longer runways with which to compound.”</p>\n<p>The tech investments that the managers have made are largely in software companies like Constellation Software (CSU.Canada),Adobe(ADBE), andCoStar Group(CSGP) that have long paths to growth ahead of them as more companies rely on their products. The fund also looks for companies with the type of “network effect” that makes Google and Amazon attractive—the business model gets stronger as more people use it, and makes the company that much harder to replace. Top holdings like Mastercard (MA) andVisa(V) fit that description.</p>\n<p>Many of the companies the duo favors are positioned to hold up, stand out, or even benefit from difficult times, like auto-parts retailerO’Reilly Automotive(ORLY), which recently reported its best comparable same-store sales in 25 years. Given the market backdrop, co-manager Cerrone says they aren’t finding that many bargains today—and they are willing to hold cash if that continues. Today, cash sits at just 2%. “We frankly wish we had more cash than we do today,” Cerrone says. “We’re not bearish, but we think we will be presented with better opportunities.”</p>\n<p><b>Underappreciated Growth</b></p>\n<p>The $10.1 billionPrimecap Odyssey Growthfund (POGRX) hunts for companies with above-average earnings growth, but not one of the Big Five tech stocks can be spotted in their top 10 holdings.</p>\n<p>That underweight has been painful; the fund’s 19.6% annual average return over the past five years puts it in the bottom third of large growth funds. But the managers’ willingness to stick with companies with above-average growth for the long haul, often adding to their shares in downturns, wins them fans.</p>\n<p>The fund’s managers are investing in some of the broad trends driving the Big Five—like e-commerce and cloud computing—but doing it differently, says Morningstar’s Lucas. For example, the fund owns Alibaba Group Holding (BABA) instead of Amazon, opting for China’s version of an e-commerce and cloud-computing giant that also trades at a meaningful discount to the U.S. company, Lucas says. Primecap declined to comment.</p>\n<p>About 18% of the fund is invested outside the U.S. and its average price/earnings ratio is 20, cheaper than the 29 for the large growth category, according to Morningstar. Though the fund isn’t concentrated in the Big Five tech stocks, it has double the stake in healthcare, almost 30% of assets, than other large growth funds. Its top 10 positions includeEli Lilly(LLY),Biogen(BIIB),Abiomed(ABMD), andAmgen(AMGN).</p>\n<p><b>Lean Profit Machines</b></p>\n<p>The $10.3 billionJensen Quality Growth(JENSX) focuses on companies that generate 15% return on equity for 10 consecutive years—a metric that co-manager Eric Schoenstein sees as a gauge forfoundational excellenceand fortress-like competitive advantages. Amazon and Facebook don’t make the cut. Alphabet, Microsoft, and Apple rank among the top holdings, but Schoenstein holds roughly a third less than in the Russell 1000 Growth index. Schoenstein says he is trying to be conscious of the risk of concentration if the momentum trade reverts or regulation puts a target on these companies’ backs.</p>\n<p>Schoenstein’s caution and a focus on quality companies have pushed the fund toward the bottom decile of the large blend Morningstar category year to date, with a return of 11.6%. But the fund’s 17.3% average return over the past five years puts it in the top 35% of large-blend funds tracked by Morningstar. Plus, the fund’s risk-adjusted, long-term performance stands out, losing about 77% as much as the S&amp;P 500 and Russell 1000 Growth indexes when stocks have fallen since Schoenstein began co-managing the fund in 2004, according to Morningstar.</p>\n<p>Lately, Schoenstein has been adding to quality stocks that may not be growing as fast but are more attractively priced as investors have left them behind, such asStarbucks(SBUX)—a stock that had been too pricey until the pandemic hit. “What better business is there to be in than branded addiction?” Schoenstein asks.</p>\n<p>While offices in New York City may not get to 100% occupancy, Schoenstein sees hybrid work situations continuing to drive business to Starbucks, potentially with fewer customers but higher sales, as one person buys for multiple people. The company is also closing stores to become more efficient and moving more toward quick-serve and grab-and-go in some locations rather than an all-day café experience.</p>\n<p><img src=\"https://static.tigerbbs.com/81aeb359e30f7394a363f00feb8ce0cf\" tg-width=\"707\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p>\n<p>Insurance is another area that Schoenstein has been adding to, with companies like Marsh &amp; McLennan (MMC), which is dominant in multiple businesses—insurance brokerage, health benefits, and retirement asset management with Mercer. Switching costs are high in the world of insurance, and the company benefits from new trends in cybersecurity and data privacy, as well.</p>\n<p>Another recent purchase: Data-analytics providerVerisk Analytics(VRSK), which serves property and casualty insurers and gets about 80% of its revenue from subscriptions and long-term agreements. The company helps take raw data and analyze it to help insurers, for example, underwrite policies. Says Schoenstein: “Some recovery is still needed because business has struggled over the past year, with business failures and companies putting [projects] on hold. So, it’s a small position, but I think about companies that are super-entrenched with their customers.”</p>\n<p><b>Multiple Managers</b></p>\n<p>Unlike the Jensen and Akre funds, which typically own 20 to 30 stocks, the $87 billionAmerican Funds Amcapfund (AMCPX) is well diversified, with more than 200 holdings, as managers hunt for the best ideas regardless of size.Abbott Laboratories(ABT),Broadcom(AVGO),EOG Resources(EOG), and Mastercard are top holdings along with four of the megacap tech quintuplets.</p>\n<p>But the fund is valuation-sensitive, and its allocation to the Big Five is lower than other growth managers, hurting its performance over the past five years; its average annual return of 17.3% puts it in the bottom decile of performance. For investors looking for diversification, the fund is a relatively cheap option—charging an expense ratio of 0.68%—that isn’t beholden to a benchmark and is run by multiple managers who can hunt for their highest-conviction ideas.</p>\n<p>Managers favor companies with strong competitive positioning, which can allow companies to boost prices and better weather near-term inflationary periods. While that includes a healthy helping of healthcare and technology stocks, managers have also gravitated toward cyclical growth companies, including semiconductor firms, travel-related companies, auto suppliers, retailers, and financials benefiting from secular growth as well as getting an additional boost from the Covid recovery.</p>\n<p>“It’s very consistent, and a good core fund with a lot of good stockpickers behind it,” says Russel Kinnel, Morningstar’s director of manager research. “You want a fund to have some good technology exposure because it’s a dynamic sector.”</p>\n<p><b>Growth on the Cheap</b></p>\n<p>The $357 million Cambiar Opportunity fund (CAMOX) is a concentrated fund that owns roughly 40 stocks. The fund looks for relative values among industry winners that boast strong long-term demand prospects and pricing power that differentiate it from some of its peers. The fund’s 16% average annual return over the past five years helped it beat 94% of its large-value peers.</p>\n<p>The fund holds Amazon, which it bought for the first time in early 2020 when the market wasn’t giving the e-commerce behemoth much value for its cloud business. It has been harder to own other megacap technology stocks, says Ania Aldrich, an investment principal at Cambiar. That’s in part because of their high valuations, but especially as exchange-traded funds continue to receive record-high inflows—$400 billion in the first half of 2021, versus $507 billion for all of last year, according to ETF.com—which contributes to the market concentration.</p>\n<p>Instead, the fund has focused on areas such as financials, including JPMorgan Chase (JPM) and Charles Schwab (SCHW), that can grow in this economic environment. Both would benefit from higher interest rates, but Aldrich says that wasn’t the reason to buy the stocks. Schwab, for example, is taking market share in wealth management, and its recent acquisition of Ameritrade gives it more heft and the ability to be more cost-efficient.</p>\n<p>Also attractive are companies that haven’t yet seen a full reopening of their businesses, like casino operatorPenn National Gaming(PENN), which Aldrich says is well positioned as states look for more revenue andallow online gambling, and food distributorSysco(SYY), which has yet to benefit from colleges and conferences getting back into full swing. While Sysco’s shares are up 43% in the past year, Aldrich sees more room for gains, noting that the company is a market leader and can take market share as smaller firms consolidate. Plus, it has pricing power to pass on higher commodity costs since it is a distributor.</p>\n<p>Another recent addition:Uber Technologies(UBER), which Aldrich says isn’t just a reopening beneficiary but also has increased the reach of its platform by moving into food delivery and opening the door to other services. “In the past, it was hard to outperform when you weren’t involved in the [concentrated stocks], but we see these trends as transitory. As growth normalizes, the value of other stocks should be recognized.”</p>","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>When Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help.</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\">\nWhen Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 09:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/big-tech-stocks-risk-funds-51625257865?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a...</p>\n\n<a href=\"https://www.barrons.com/articles/big-tech-stocks-risk-funds-51625257865?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":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/big-tech-stocks-risk-funds-51625257865?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189605893","content_text":"It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a time that some strategists see a potential turn ahead in the markets.\nOwning the Big Five—Apple(ticker: AAPL),Microsoft(MSFT),Amazon.com(AMZN),Facebook(FB), andAlphabet’sGoogle (GOOGL)—has been lucrative: These companies have logged gains of 125% to 245% since the beginning of 2019. These stocks are widely held, not just by index investors, but also among all kinds of active fund managers—including those who don’t typically own growth companies.\nTogether, the five companies account for almost 22% of theS&P 500index. Of course, the Nifty Fifty stocks dominated the 1970s, and blue-chip stalwarts such asIBM(IBM) andAT&T(T) ruled the 1980s. Those companies may have wielded even more influence over the broad economy than today’s biggest companies do, but the level of market concentration is higher now, and the Big Five’s impact on the broad market is much greater because of their size, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. Apple and Microsoft are the first U.S. stocks whose market values have soared past $2 trillion. Though it has slipped a bit this year, Apple hit peak concentration for a single stock in the S&P 500 last year at about 7%, higher than IBM’s in its heyday.\nThere are signs that investor appetite for risk is waning, which could hurt the prospects for the growth of Big Tech. There has beena selloff in speculative cornersof the market, such as cryptocurrencies and special purpose acquisition companies, better known as SPACs. And, of course, there is therising consternationabout both inflation andinterest ratesmoving higher. If the Big Fiveslow downor tumble, the entire market—including all index investors—will feel it. If these stocks decline by 10%, for instance, in order for the S&P 500 to keep trading flat, the bottom 100 stocks in the index would have to rise by a collective 75%, according toGoldman Sachs.This dynamic explains why narrow market breadth has often preceded big losses.\nWhen Less May Be More\nThese funds are more diversified than the S&P 500, and could be more resilient if the tech megacaps stumble.\n\nInvestors’ portfolios are chock-full of these stocks, leaving them less diversified for a possible turn in the market. These companies are already beginning to slow down. Take Amazon, which accounts for roughly 4% of the S&P 500—more than the energy, real estate, materials, or utilities sectors. Amazon hasn’t hit an all-time high this year, and has underperformed the S&P 500 by 25 percentage points since September 2020 amid questions about the company’s e-commerce growth. Add in regulatory pressure, which could make the path ahead for these companies rockier, such as a House panel’s approval of sweeping legislation last month that could curb the dominance of companies like Google and Facebook.\nA global recovery could also make the Big Five stocks less special. “The story line with megacap tech stocks has been that economic growth has been hard to find and rates so low that you wanted to own powerful growth stocks,” says Scott Opsal, director of research at Leuthold Group. “But for those who think the economy has room to run, you don’t have to pay up for the growth that investors were willing to pay for in 2018 or 2019.” For Opsal, the changing backdrop is reason for a barbell approach, owning some of the technology winners but also diversifying into a wider array of more value-oriented and smaller stocks.\nWith the market so concentrated in a handful of megacap tech stocks, Opsal says that investors may want the type of funds that do what the fund consultants advise against: be willing to drift out of their lane, and be willing to not fit neatly into a growth or value category.\nIt isn’t easy finding good fund managers with the acumen to pick the right stocks beyond the other 495, the grit to avoid the crowd, and the track record that demonstrates to investors that they can be different and correct. Performance doesn’t look all that great for managers whose wariness led them to own less of the technology darlings that drove the market to highs over the past several years. And the decision to not own any—or even just less—of these companies sometimes pushed managers out of theirMorningstarcategory into areas like large-cap blend.\nHigh active share has often been a go-to gauge for finding fund managers who look different than their benchmarks. That’s a good place to start, but different doesn’t always lead to outperformance, so Morningstar strategist Alec Lucas recommends understanding what is in the managers’ portfolios and the thinking behind the picks—as well as when they buy or sell the stocks.\nBarron’slooked for large-cap growth-oriented managers that don’t usually stick too close to an index and have long, and strong, track records. We turned up both diversified and concentrated funds; some didn’t own any of the Big Five, while some owned a bit, albeit less than their peers. All may offer investors a way to tweak rather than overhaul their portfolios, giving them some more diversification while still tapping into large, growing companies.\nA Concentrated Approach\nThe Akre Focus fund (AKREX) falls into the concentrated bucket. It owns about 20 well-managed companies that the managers, John Neff and Chris Cerrone, think are superior businesses and adept at reinvesting in the companies. The fund has just a 4% turnover, so it holds on to its investments for years. That has been a winning long-term strategy: Akre Focus has an 18% average annual return over the past decade, beating 84% of its peers.\nThe past few years have been tough, though: The fund hasn’t owned the Big Five, and has just 13% of its assets in any kind of technology company, whereas most of its peers have close to a third in tech. It has averaged 22% annually over the past three years; not too shabby on an absolute basis, but landing it midpack among competitors. The managers are resolute in finding growth elsewhere. “They are tremendous businesses, but how many more times can they double in value, given their current size? Maybe many times, but it’s an important question,” says Neff. “We’ve generally focused on smaller businesses with ostensibly longer runways with which to compound.”\nThe tech investments that the managers have made are largely in software companies like Constellation Software (CSU.Canada),Adobe(ADBE), andCoStar Group(CSGP) that have long paths to growth ahead of them as more companies rely on their products. The fund also looks for companies with the type of “network effect” that makes Google and Amazon attractive—the business model gets stronger as more people use it, and makes the company that much harder to replace. Top holdings like Mastercard (MA) andVisa(V) fit that description.\nMany of the companies the duo favors are positioned to hold up, stand out, or even benefit from difficult times, like auto-parts retailerO’Reilly Automotive(ORLY), which recently reported its best comparable same-store sales in 25 years. Given the market backdrop, co-manager Cerrone says they aren’t finding that many bargains today—and they are willing to hold cash if that continues. Today, cash sits at just 2%. “We frankly wish we had more cash than we do today,” Cerrone says. “We’re not bearish, but we think we will be presented with better opportunities.”\nUnderappreciated Growth\nThe $10.1 billionPrimecap Odyssey Growthfund (POGRX) hunts for companies with above-average earnings growth, but not one of the Big Five tech stocks can be spotted in their top 10 holdings.\nThat underweight has been painful; the fund’s 19.6% annual average return over the past five years puts it in the bottom third of large growth funds. But the managers’ willingness to stick with companies with above-average growth for the long haul, often adding to their shares in downturns, wins them fans.\nThe fund’s managers are investing in some of the broad trends driving the Big Five—like e-commerce and cloud computing—but doing it differently, says Morningstar’s Lucas. For example, the fund owns Alibaba Group Holding (BABA) instead of Amazon, opting for China’s version of an e-commerce and cloud-computing giant that also trades at a meaningful discount to the U.S. company, Lucas says. Primecap declined to comment.\nAbout 18% of the fund is invested outside the U.S. and its average price/earnings ratio is 20, cheaper than the 29 for the large growth category, according to Morningstar. Though the fund isn’t concentrated in the Big Five tech stocks, it has double the stake in healthcare, almost 30% of assets, than other large growth funds. Its top 10 positions includeEli Lilly(LLY),Biogen(BIIB),Abiomed(ABMD), andAmgen(AMGN).\nLean Profit Machines\nThe $10.3 billionJensen Quality Growth(JENSX) focuses on companies that generate 15% return on equity for 10 consecutive years—a metric that co-manager Eric Schoenstein sees as a gauge forfoundational excellenceand fortress-like competitive advantages. Amazon and Facebook don’t make the cut. Alphabet, Microsoft, and Apple rank among the top holdings, but Schoenstein holds roughly a third less than in the Russell 1000 Growth index. Schoenstein says he is trying to be conscious of the risk of concentration if the momentum trade reverts or regulation puts a target on these companies’ backs.\nSchoenstein’s caution and a focus on quality companies have pushed the fund toward the bottom decile of the large blend Morningstar category year to date, with a return of 11.6%. But the fund’s 17.3% average return over the past five years puts it in the top 35% of large-blend funds tracked by Morningstar. Plus, the fund’s risk-adjusted, long-term performance stands out, losing about 77% as much as the S&P 500 and Russell 1000 Growth indexes when stocks have fallen since Schoenstein began co-managing the fund in 2004, according to Morningstar.\nLately, Schoenstein has been adding to quality stocks that may not be growing as fast but are more attractively priced as investors have left them behind, such asStarbucks(SBUX)—a stock that had been too pricey until the pandemic hit. “What better business is there to be in than branded addiction?” Schoenstein asks.\nWhile offices in New York City may not get to 100% occupancy, Schoenstein sees hybrid work situations continuing to drive business to Starbucks, potentially with fewer customers but higher sales, as one person buys for multiple people. The company is also closing stores to become more efficient and moving more toward quick-serve and grab-and-go in some locations rather than an all-day café experience.\n\nInsurance is another area that Schoenstein has been adding to, with companies like Marsh & McLennan (MMC), which is dominant in multiple businesses—insurance brokerage, health benefits, and retirement asset management with Mercer. Switching costs are high in the world of insurance, and the company benefits from new trends in cybersecurity and data privacy, as well.\nAnother recent purchase: Data-analytics providerVerisk Analytics(VRSK), which serves property and casualty insurers and gets about 80% of its revenue from subscriptions and long-term agreements. The company helps take raw data and analyze it to help insurers, for example, underwrite policies. Says Schoenstein: “Some recovery is still needed because business has struggled over the past year, with business failures and companies putting [projects] on hold. So, it’s a small position, but I think about companies that are super-entrenched with their customers.”\nMultiple Managers\nUnlike the Jensen and Akre funds, which typically own 20 to 30 stocks, the $87 billionAmerican Funds Amcapfund (AMCPX) is well diversified, with more than 200 holdings, as managers hunt for the best ideas regardless of size.Abbott Laboratories(ABT),Broadcom(AVGO),EOG Resources(EOG), and Mastercard are top holdings along with four of the megacap tech quintuplets.\nBut the fund is valuation-sensitive, and its allocation to the Big Five is lower than other growth managers, hurting its performance over the past five years; its average annual return of 17.3% puts it in the bottom decile of performance. For investors looking for diversification, the fund is a relatively cheap option—charging an expense ratio of 0.68%—that isn’t beholden to a benchmark and is run by multiple managers who can hunt for their highest-conviction ideas.\nManagers favor companies with strong competitive positioning, which can allow companies to boost prices and better weather near-term inflationary periods. While that includes a healthy helping of healthcare and technology stocks, managers have also gravitated toward cyclical growth companies, including semiconductor firms, travel-related companies, auto suppliers, retailers, and financials benefiting from secular growth as well as getting an additional boost from the Covid recovery.\n“It’s very consistent, and a good core fund with a lot of good stockpickers behind it,” says Russel Kinnel, Morningstar’s director of manager research. “You want a fund to have some good technology exposure because it’s a dynamic sector.”\nGrowth on the Cheap\nThe $357 million Cambiar Opportunity fund (CAMOX) is a concentrated fund that owns roughly 40 stocks. The fund looks for relative values among industry winners that boast strong long-term demand prospects and pricing power that differentiate it from some of its peers. The fund’s 16% average annual return over the past five years helped it beat 94% of its large-value peers.\nThe fund holds Amazon, which it bought for the first time in early 2020 when the market wasn’t giving the e-commerce behemoth much value for its cloud business. It has been harder to own other megacap technology stocks, says Ania Aldrich, an investment principal at Cambiar. That’s in part because of their high valuations, but especially as exchange-traded funds continue to receive record-high inflows—$400 billion in the first half of 2021, versus $507 billion for all of last year, according to ETF.com—which contributes to the market concentration.\nInstead, the fund has focused on areas such as financials, including JPMorgan Chase (JPM) and Charles Schwab (SCHW), that can grow in this economic environment. Both would benefit from higher interest rates, but Aldrich says that wasn’t the reason to buy the stocks. Schwab, for example, is taking market share in wealth management, and its recent acquisition of Ameritrade gives it more heft and the ability to be more cost-efficient.\nAlso attractive are companies that haven’t yet seen a full reopening of their businesses, like casino operatorPenn National Gaming(PENN), which Aldrich says is well positioned as states look for more revenue andallow online gambling, and food distributorSysco(SYY), which has yet to benefit from colleges and conferences getting back into full swing. While Sysco’s shares are up 43% in the past year, Aldrich sees more room for gains, noting that the company is a market leader and can take market share as smaller firms consolidate. Plus, it has pricing power to pass on higher commodity costs since it is a distributor.\nAnother recent addition:Uber Technologies(UBER), which Aldrich says isn’t just a reopening beneficiary but also has increased the reach of its platform by moving into food delivery and opening the door to other services. “In the past, it was hard to outperform when you weren’t involved in the [concentrated stocks], but we see these trends as transitory. As growth normalizes, the value of other stocks should be recognized.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155627588,"gmtCreate":1625415458144,"gmtModify":1703741483090,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155627588","repostId":"1160702483","repostType":4,"isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152616323,"gmtCreate":1625287017662,"gmtModify":1703740027780,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/152616323","repostId":"2148872154","repostType":4,"repost":{"id":"2148872154","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":1625224478,"share":"https://www.laohu8.com/m/news/2148872154?lang=&edition=full","pubTime":"2021-07-02 19:14","market":"fut","language":"en","title":"Global equity funds see third successive weekly inflows- Lipper","url":"https://stock-news.laohu8.com/highlight/detail?id=2148872154","media":"Reuters","summary":"July 2 (Reuters) - Global investors were net buyers of equity funds for a third successive week in t","content":"<p>July 2 (Reuters) - Global investors were net buyers of equity funds for a third successive week in the week to June 30. However, a resurgence of coronavirus cases in Asia and concerns over high inflation levels and their impact on monetary policy capped inflows.</p>\n<p>According to Refinitiv Lipper data, global equity funds received inflows of $14 billion in the week, though the tally was down 35% from the previous week.</p>\n<p>European equity funds and U.S. equity funds had inflows worth $6.3 billion and $4.8 billion respectively, while Asian equity funds received only $1.9 billion.</p>\n<p>In the Asia-Pacific, Australia is battling small but fast growing outbreaks, while Indonesia is also grappling with record high-cases. Malaysia is set to extend a lockdown and Thailand has announced new restrictions.</p>\n<p>Among equity sector funds, tech funds lured inflows of $1.7 billion, the biggest in 11 weeks, while financials saw outflows worth $1.12 billion.</p>\n<p>Fears over the spread of the highly infectious Delta virus variant prompted more inflows into more safer debt funds during the week.</p>\n<p>The data showed global bond funds received a net $14.8 billion, the biggest since the week ended May 5.</p>\n<p>Inflows into government bond funds jumped to a four-week high of $3.3 billion, data from 2,981 funds showed.</p>\n<p>Meanwhile, money market funds saw outflows of $38.1 billion, their third consecutive week of net sales.</p>\n<p>In the commodities space, energy funds recorded a fifth straight week of outflows, while precious metal funds also had outflows for a second consecutive week, with gold prices dipping to a 2-1/2 month low this week.</p>\n<p>An analysis of 23,713 emerging-market funds showed equity funds had net selling worth $1.35 billion, the biggest outflow since mid-September, while bond funds had inflows of $530 million, compared with $1.4 billion worth of outflows in the previous week.</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>Global equity funds see third successive weekly inflows- Lipper</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\">\nGlobal equity funds see third successive weekly inflows- Lipper\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-02 19:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>July 2 (Reuters) - Global investors were net buyers of equity funds for a third successive week in the week to June 30. However, a resurgence of coronavirus cases in Asia and concerns over high inflation levels and their impact on monetary policy capped inflows.</p>\n<p>According to Refinitiv Lipper data, global equity funds received inflows of $14 billion in the week, though the tally was down 35% from the previous week.</p>\n<p>European equity funds and U.S. equity funds had inflows worth $6.3 billion and $4.8 billion respectively, while Asian equity funds received only $1.9 billion.</p>\n<p>In the Asia-Pacific, Australia is battling small but fast growing outbreaks, while Indonesia is also grappling with record high-cases. Malaysia is set to extend a lockdown and Thailand has announced new restrictions.</p>\n<p>Among equity sector funds, tech funds lured inflows of $1.7 billion, the biggest in 11 weeks, while financials saw outflows worth $1.12 billion.</p>\n<p>Fears over the spread of the highly infectious Delta virus variant prompted more inflows into more safer debt funds during the week.</p>\n<p>The data showed global bond funds received a net $14.8 billion, the biggest since the week ended May 5.</p>\n<p>Inflows into government bond funds jumped to a four-week high of $3.3 billion, data from 2,981 funds showed.</p>\n<p>Meanwhile, money market funds saw outflows of $38.1 billion, their third consecutive week of net sales.</p>\n<p>In the commodities space, energy funds recorded a fifth straight week of outflows, while precious metal funds also had outflows for a second consecutive week, with gold prices dipping to a 2-1/2 month low this week.</p>\n<p>An analysis of 23,713 emerging-market funds showed equity funds had net selling worth $1.35 billion, the biggest outflow since mid-September, while bond funds had inflows of $530 million, compared with $1.4 billion worth of outflows in the previous week.</p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148872154","content_text":"July 2 (Reuters) - Global investors were net buyers of equity funds for a third successive week in the week to June 30. However, a resurgence of coronavirus cases in Asia and concerns over high inflation levels and their impact on monetary policy capped inflows.\nAccording to Refinitiv Lipper data, global equity funds received inflows of $14 billion in the week, though the tally was down 35% from the previous week.\nEuropean equity funds and U.S. equity funds had inflows worth $6.3 billion and $4.8 billion respectively, while Asian equity funds received only $1.9 billion.\nIn the Asia-Pacific, Australia is battling small but fast growing outbreaks, while Indonesia is also grappling with record high-cases. Malaysia is set to extend a lockdown and Thailand has announced new restrictions.\nAmong equity sector funds, tech funds lured inflows of $1.7 billion, the biggest in 11 weeks, while financials saw outflows worth $1.12 billion.\nFears over the spread of the highly infectious Delta virus variant prompted more inflows into more safer debt funds during the week.\nThe data showed global bond funds received a net $14.8 billion, the biggest since the week ended May 5.\nInflows into government bond funds jumped to a four-week high of $3.3 billion, data from 2,981 funds showed.\nMeanwhile, money market funds saw outflows of $38.1 billion, their third consecutive week of net sales.\nIn the commodities space, energy funds recorded a fifth straight week of outflows, while precious metal funds also had outflows for a second consecutive week, with gold prices dipping to a 2-1/2 month low this week.\nAn analysis of 23,713 emerging-market funds showed equity funds had net selling worth $1.35 billion, the biggest outflow since mid-September, while bond funds had inflows of $530 million, compared with $1.4 billion worth of outflows in the previous week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152618011,"gmtCreate":1625286910133,"gmtModify":1703740026123,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Really... gogogo","listText":"Really... gogogo","text":"Really... gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/152618011","repostId":"2148870449","repostType":4,"repost":{"id":"2148870449","pubTimestamp":1625231543,"share":"https://www.laohu8.com/m/news/2148870449?lang=&edition=full","pubTime":"2021-07-02 21:12","market":"us","language":"en","title":"Forget AMC Stock: This Entertainment Stock Offers Investors Much More","url":"https://stock-news.laohu8.com/highlight/detail?id=2148870449","media":"Motley Fool","summary":"Everyone's talking about AMC stock. But this stock is growing much faster.","content":"<p>Investors have had their eyes glued to <b>AMC Entertainment Holdings</b> (NYSE:AMC) stock over the past few months as the stock price has grown an outrageous almost 30-fold year to date, skyrocketing from $2 at the beginning of 2021. It has all the exciting suspense you'd usually see on an AMC theater screen, but the excitement is not connected to its business.</p>\n<p>The premise of the drama is that AMC stock is heavily shorted, which means a significant percentage of shares are \"sold\" by commercial investors. These short-sellers expect to buy the stock back when the share price tanks, pocketing the price difference. Retail investors have been pushing the price up instead, forcing a series of short squeezes for the investors. But it's more than that because many investors see real potential for the company to get back to growth as the economy reopens. This week there was evidence of that as the anticipated film <i>F9 </i>opened in the U.S. exclusively in theaters, reeling in $70 million in ticket sales over last weekend.</p>\n<p>But if you're looking to buy a high-growth stock without the suspense, consider streaming company <b>Roku</b> (NASDAQ:ROKU).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/28eb9de3cdf3c24cb8c6d43abbd21d2b\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<h2>Two ways to make money</h2>\n<p>Roku is different from other streaming companies because it has both a device business and a streaming network. And both are demonstrating high performance, as well as high potential.</p>\n<p>Sales grew 79% in the first quarter to just over $500 million, and the company posted a third consecutive \"surprise\" profit of $76 million.</p>\n<p>Player revenue, which includes sales of the company's streaming devices, increased by 22%. But platform revenue, which comprises ad sales from the company's free streaming networks, grew 101%.</p>\n<p>This is where the company's biggest growth opportunities are. Advertisers are moving their money over to streaming as viewers continue to \"cut the cord\" and switch to streaming from traditional television. Roku has deals with most streaming networks to stream their channels on Roku devices and use their content on its own channel. Roku recently announced that it is launching its own original content to compete with the bigger guns like <b>Walt Disney</b>&nbsp;and <b>Netflix</b>. It's planning to release nearly 50 pieces of content this year, and it already posted a record number of unique streamers in the two-week period after launching Roku Originals.</p>\n<p>Although it seems like every network is launching its own streaming service, there are only a few at the top. Although Roku is focused on its free streaming model right now, the market is wide open, and the company is demonstrating its ability to pivot and try new ventures. Streaming is still in its infancy, and Roku is a main player in this new field.</p>\n<p>The only reason investors might want to be cautious about buying Roku stock is its valuation. Roku's success is no secret and its price skyrocketed last year, gaining nearly 300%. Shares are now trading at almost 1,100 times forward-<a href=\"https://laohu8.com/S/AONE\">one</a>-year earnings. That's a hefty price tag, even for a growth stock, and it may take time to grow into that valuation.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4159a1bd8ed1a5827d78d873c2208c3d\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<h2>Making it through to the end of the tunnel</h2>\n<p>It's been a rough ride for AMC with closed theaters, but it has survived thanks in part to excited investors who are buying new stock and loading the company up with cash.</p>\n<p>It's not out of the woods yet, though. Movie-going is coming back, but it's not clear if it will get to pre-pandemic levels any time soon, if at all.</p>\n<p>As for AMC stock, so much growth is baked into the price that it might be overdone. At current prices, investors are paying a high premium on future growth.</p>\n<p>AMC and Roku stocks are both trading at super-high valuations, but only <a href=\"https://laohu8.com/S/AONE.U\">one</a> of them has a clear path toward growth, and that's Roku.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Forget AMC Stock: This Entertainment Stock Offers Investors Much More</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\">\nForget AMC Stock: This Entertainment Stock Offers Investors Much More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/07/02/forget-amc-stock-this-entertainment-stock-offers-i/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investors have had their eyes glued to AMC Entertainment Holdings (NYSE:AMC) stock over the past few months as the stock price has grown an outrageous almost 30-fold year to date, skyrocketing from $2...</p>\n\n<a href=\"https://www.fool.com/investing/2021/07/02/forget-amc-stock-this-entertainment-stock-offers-i/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2021/07/02/forget-amc-stock-this-entertainment-stock-offers-i/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148870449","content_text":"Investors have had their eyes glued to AMC Entertainment Holdings (NYSE:AMC) stock over the past few months as the stock price has grown an outrageous almost 30-fold year to date, skyrocketing from $2 at the beginning of 2021. It has all the exciting suspense you'd usually see on an AMC theater screen, but the excitement is not connected to its business.\nThe premise of the drama is that AMC stock is heavily shorted, which means a significant percentage of shares are \"sold\" by commercial investors. These short-sellers expect to buy the stock back when the share price tanks, pocketing the price difference. Retail investors have been pushing the price up instead, forcing a series of short squeezes for the investors. But it's more than that because many investors see real potential for the company to get back to growth as the economy reopens. This week there was evidence of that as the anticipated film F9 opened in the U.S. exclusively in theaters, reeling in $70 million in ticket sales over last weekend.\nBut if you're looking to buy a high-growth stock without the suspense, consider streaming company Roku (NASDAQ:ROKU).\nImage source: Getty Images.\nTwo ways to make money\nRoku is different from other streaming companies because it has both a device business and a streaming network. And both are demonstrating high performance, as well as high potential.\nSales grew 79% in the first quarter to just over $500 million, and the company posted a third consecutive \"surprise\" profit of $76 million.\nPlayer revenue, which includes sales of the company's streaming devices, increased by 22%. But platform revenue, which comprises ad sales from the company's free streaming networks, grew 101%.\nThis is where the company's biggest growth opportunities are. Advertisers are moving their money over to streaming as viewers continue to \"cut the cord\" and switch to streaming from traditional television. Roku has deals with most streaming networks to stream their channels on Roku devices and use their content on its own channel. Roku recently announced that it is launching its own original content to compete with the bigger guns like Walt Disney and Netflix. It's planning to release nearly 50 pieces of content this year, and it already posted a record number of unique streamers in the two-week period after launching Roku Originals.\nAlthough it seems like every network is launching its own streaming service, there are only a few at the top. Although Roku is focused on its free streaming model right now, the market is wide open, and the company is demonstrating its ability to pivot and try new ventures. Streaming is still in its infancy, and Roku is a main player in this new field.\nThe only reason investors might want to be cautious about buying Roku stock is its valuation. Roku's success is no secret and its price skyrocketed last year, gaining nearly 300%. Shares are now trading at almost 1,100 times forward-one-year earnings. That's a hefty price tag, even for a growth stock, and it may take time to grow into that valuation.\nImage source: Getty Images.\nMaking it through to the end of the tunnel\nIt's been a rough ride for AMC with closed theaters, but it has survived thanks in part to excited investors who are buying new stock and loading the company up with cash.\nIt's not out of the woods yet, though. Movie-going is coming back, but it's not clear if it will get to pre-pandemic levels any time soon, if at all.\nAs for AMC stock, so much growth is baked into the price that it might be overdone. At current prices, investors are paying a high premium on future growth.\nAMC and Roku stocks are both trading at super-high valuations, but only one of them has a clear path toward growth, and that's Roku.","news_type":1},"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":154171075,"gmtCreate":1625492866397,"gmtModify":1703742660535,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"I hope amazon can faster grow up","listText":"I hope amazon can faster grow up","text":"I hope amazon can faster grow up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/154171075","repostId":"1157317474","repostType":4,"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158060746,"gmtCreate":1625114127485,"gmtModify":1703736446087,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/158060746","repostId":"1178516480","repostType":4,"repost":{"id":"1178516480","pubTimestamp":1625094708,"share":"https://www.laohu8.com/m/news/1178516480?lang=&edition=full","pubTime":"2021-07-01 07:11","market":"us","language":"en","title":"S&P 500 notches fifth straight record closing high, fifth straight quarterly gain","url":"https://stock-news.laohu8.com/highlight/detail?id=1178516480","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as inves","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.</p>\n<p>In the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.</p>\n<p>All three indexes posted their fifth consecutive quarterly gains, with the S&amp;P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&amp;P 500 registered its second-best first-half performance since 1998, rising 14.5%.</p>\n<p>“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&amp;P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”</p>\n<p>For the month, the bellwether S&amp;P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.</p>\n<p>This month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.</p>\n<p>“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”</p>\n<p>“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.</p>\n<p>“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”</p>\n<p>(Graphic: Growths stocks outperform value in June, narrow YTD gap, )</p>\n<p><img src=\"https://static.tigerbbs.com/5b82b4dfdc765d913811f9d8572e60f6\" tg-width=\"964\" tg-height=\"723\" referrerpolicy=\"no-referrer\">“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”</p>\n<p>The private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.</p>\n<p>The Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&amp;P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.</p>\n<p>Among the 11 major sectors in the S&amp;P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.</p>\n<p>Boeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.</p>\n<p>Walmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.</p>\n<p>Micron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.</p>\n<p>Volume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","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>S&P 500 notches fifth straight record closing high, fifth straight quarterly gain</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\">\nS&P 500 notches fifth straight record closing high, fifth straight quarterly gain\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-01 07:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking ...</p>\n\n<a href=\"https://www.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R\">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.reuters.com/article/us-usa-stocks/sp-500-notches-fifth-straight-record-closing-high-fifth-straight-quarterly-gain-idUSKCN2E619R","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178516480","content_text":"NEW YORK (Reuters) - The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors ended the month and the quarter by largely shrugging off positive economic data and looking toward Friday’s highly anticipated employment report.\nIn the last session of 2021’s first half, the indexes were languid and range-bound, with the blue-chip Dow posting gains, while the Nasdaq edged lower.\nAll three indexes posted their fifth consecutive quarterly gains, with the S&P rising 8.2%, the Nasdaq advancing 9.5% and the Dow rising 4.6%. The S&P 500 registered its second-best first-half performance since 1998, rising 14.5%.\n“It’s been a good quarter,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “As of last night’s close, the S&P has gained more than 14% year-to-date, topping the Dow and the Nasdaq. That indicates that the stock market is having a broad rally.”\nFor the month, the bellwether S&P 500 notched its fifth consecutive advance, while the Dow snapped its four-month winning streak to end slightly lower. The Nasdaq also gained ground in June.\nThis month, investor appetite shifted away from economically sensitive cyclicals in favor of growth stocks.\n“Leading sectors year-to-date are what you’d expect,” Pavlik added. “Energy, financials and industrials, and that speaks to an economic environment that’s in the early stages of a cycle.”\n“(Investors) started the switch back to growth (stocks) after people started to buy in to (Fed Chair Jerome) Powell’s comments that focus on transitory inflation,” Pavlik added.\n“Some of the reopening trades have gotten a bit long in the tooth and that’s leading people back to growth.”\n(Graphic: Growths stocks outperform value in June, narrow YTD gap, )\n“The overall stock market continues to be on a tear, with very consistent gains for quite some time,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “Valuations, while certainly high by historical standards, have been at a fairly consistent level, benefiting from the economic recovery.”\nThe private sector added 692,000 jobs in June, breezing past expectations, according to payroll processor ADP. The number is 92,000 higher than the private payroll adds economists predict from the Labor Department’s more comprehensive employment report due on Friday.\nThe Dow Jones Industrial Average rose 210.22 points, or 0.61%, to 34,502.51, the S&P 500 gained 5.7 points, or 0.13%, to 4,297.5 and the Nasdaq Composite dropped 24.38 points, or 0.17%, to 14,503.95.\nAmong the 11 major sectors in the S&P, six ended the session higher, with energy enjoying the biggest percentage gain. Real estate was the day’s biggest loser.\nBoeing Co gained 1.6% after Germany’s defense ministry announced it would buy five of the planemaker’s P-8A maritime control aircraft, coming on the heels of United Airlines unveiling its largest-ever order for new planes.\nWalmart jumped 2.7% after announcing on Tuesday that it would start selling a prescription-only insulin analog.\nMicron Technology advanced 2.5% ahead of its quarterly earnings release, but was relatively unchanged in after-hours trading following the chipmaker’s quarterly results.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.35-to-1 ratio; on Nasdaq, a 1.19-to-1 ratio favored decliners.\nThe S&P 500 posted 20 new 52-week highs and no new lows; the Nasdaq Composite recorded 70 new highs and 36 new lows.\nVolume on U.S. exchanges was 10.85 billion shares, compared with the 11.05 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127432371,"gmtCreate":1624861941193,"gmtModify":1703846455678,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Gogo","listText":"Gogo","text":"Gogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/127432371","repostId":"2146007118","repostType":4,"repost":{"id":"2146007118","pubTimestamp":1624826996,"share":"https://www.laohu8.com/m/news/2146007118?lang=&edition=full","pubTime":"2021-06-28 04:49","market":"us","language":"en","title":"June jobs report, Consumer confidence: What to know this week","url":"https://stock-news.laohu8.com/highlight/detail?id=2146007118","media":"Yahoo Finance","summary":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.However, a confluence of ","content":"<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.</p>\n<p>On Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.</p>\n<p>Non-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.</p>\n<p>\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"</p>\n<p>Even with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.</p>\n<p>But both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b881fe96eccc72cff61bf35b0dfa72fa\" tg-width=\"5210\" tg-height=\"3404\" referrerpolicy=\"no-referrer\"><span>SAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images</span></p>\n<p>\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"</p>\n<p>However, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.</p>\n<p>\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"</p>\n<p>\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"</p>\n<h2>Consumer confidence</h2>\n<h2></h2>\n<p>Another closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.</p>\n<p>The headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.</p>\n<p>Like investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.</p>\n<p>Not only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.</p>\n<p>\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"</p>\n<p>Still, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.</p>\n<h2>Economic Calendar</h2>\n<ul>\n <li><p><b>Monday: </b>Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)</p></li>\n <li><p><b>Tuesday: </b>FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&amp;P <a href=\"https://laohu8.com/S/CLGX\">CoreLogic</a> Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&amp;P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)</p></li>\n <li><p><b>Wednesday: </b>MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);</p></li>\n <li><p><b>Thursday: </b>Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); <a href=\"https://laohu8.com/S/MRKT\">Markit</a> US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)</p></li>\n <li><p><b>Friday: </b>Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)</p></li>\n</ul>\n<h2>Earnings Calendar</h2>\n<ul>\n <li><p><b>Monday:</b> N/A</p></li>\n <li><p><b>Tuesday: </b>N/A</p></li>\n <li><p><b>Wednesday: </b>Constellation Brands (STZ), Bed Bath &amp; Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close</p></li>\n <li><p><b>Thursday: </b><a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> (WBA) before market open</p></li>\n <li><p><b>Friday:</b> N/A</p></li>\n</ul>","source":"yahoofinance_au","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>June jobs report, Consumer confidence: What to know this 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\">\nJune jobs report, Consumer confidence: What to know this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 04:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/june-jobs-report-consumer-confidence-what-to-know-this-week-204956329.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146007118","content_text":"This week's packed slate of economic data reports will include an update on the labor market and new data on consumer confidence, offering fresh looks at the pace and perception of the COVID-19 recovery for many Americans.\nOn Friday, the Labor Department will release its June jobs report. The print is expected to show an acceleration in rehiring and a step lower in the unemployment rate, helping alleviate some of the labor shortages reported across the economy as of late.\nNon-farm payrolls likely grew by 700,000 in June, according to Bloomberg consensus data. This would accelerate from the 559,000 added back in May and mark the biggest rise since March. And the unemployment rate is expected to move down to 5.6% from 5.8% in May, bringing the jobless rate closer to its pre-pandemic, 50-year low of 3.5%.\n\"Payrolls probably surged again in June, with the pace up from the +559,000 in May,\" TD Securities strategists wrote in a note Friday. \"Some acceleration in the private sector is suggested by the Homebase data, while government payrolls probably benefited from fewer than usual end-of-school-year layoffs.\"\nEven with a sizable monthly payroll gain, the economy would still be well off its pre-pandemic levels of employment. Heading into June, the U.S. economy was still down by more than 7 million payrolls compared to February 2020, with the deficit most pronounced in high-contact services industries like restaurants and hotels.\nBut both services and manufacturing companies have cited shortages of qualified workers to fill open positions, which hit a record high of over 9 million as of latest data. These supply-and-demand mismatches in the labor market – with shortages noted by firms from FedEx (FDX) to Yum Brands (YUM) — have also begun to push wages higher and created additional costs for businesses. In Friday's report, average hourly earnings are expected to jump 3.6% year-on-year for June, accelerating from May's 2% increase.\nSAN FRANCISCO, CALIFORNIA - JUNE 03: A pedestrian walks by a Now Hiring sign outside of a Lamps Plus store on June 03, 2021 in San Francisco, California. According to a U.S. Labor Department report, jobless claims fell for a fifth straight week to 385,000. (Photo by Justin Sullivan/Getty Images)Justin Sullivan via Getty Images\n\"Strong demand and weak supply should continue to put upward pressure on wages,\" Bank of America economist Michelle Meyer wrote in a note. \"Workers are quitting at a higher rate as they find better opportunities.\"\nHowever, a confluence of factors that have kept workers on the sidelines of the labor market may start to lessen in the coming months, some economists noted. Many have agreed that a combination of childcare concerns, fears of contracting COVID-19 and ongoing enhanced federal unemployment benefits have contributed to the still-elevated levels of joblessness, but that each of these should diminish as schools reopen, vaccinations continue and jobless benefits get phased out over the next several months.\n\"Labor supply may soon pick up,\" Meyer said. \"We find evidence of a quicker drop in unemployment insurance (UI) applications in states that discontinued generous federal UI benefits.\"\n\"Four states — Alaska, Iowa, Mississippi and Missouri — opted out in June 12 and UI applications in those states have fallen faster compared to other states, according to the latest initial jobless claims figures,\" she added. \"With another eight states opting out in the week ending June 19 and a total of 25 states by end of the summer, more workers should return to the workforce, helping to ease wage pressures and help meet the strong labor demand in the economy.\"\nConsumer confidence\n\nAnother closely watched economic data print this week will be the Conference Board's June consumer confidence index, which is expected to reflect a strong pick-up in sentiment during the recovery and heading into the summer. The report is due for release Tuesday morning.\nThe headline index is likely to rise to 119.0 for June from 117.2 in May, according to Bloomberg consensus data. This would mark the highest level since February 2020's 132.6, which itself had been a near two-decade high.\nLike investors, consumers have begun to warm to the notion that inflationary pressures seen during the early stages of the economic recovery may prove transitory. This has helped raise consumers' future expectations for their spending power and boosted sentiment at large, according to other consumer sentiment surveys including the University of Michigan's Surveys of Consumers.\nNot only did year-ahead inflation expectations fall slightly to 4.2% in June from May's decade peak of 4.6%, consumers also believed that the price surges will mostly be temporary,\" Richard Curtin, chief economist for the Surveys of Consumers, said on Friday.\n\"When the pandemic first started, consumers were quite uncertain about their job and income prospects, but reported widespread declines in market prices for homes, vehicles, and household durables,\" he added. \"Those favorable price references have dropped to the most negative in a decade, and job and income prospects have improved, but not quite as favorable as in the last few years of the prior expansion.\"\nStill, in a sign of some downside risk in Tuesday's report from the Conference Board, the University of Michigan's June final sentiment index edged lower to 85.5, coming in below the 86.4 preliminary print, but still above May's reading of 82.9.\nEconomic Calendar\n\nMonday: Dallas Fed Manufacturing Activity Index, June (32.5 expected, 34.9 in May)\nTuesday: FHFA House Price Index, month-on-month, April (1.7% expected, 1.4% in March); S&P CoreLogic Case-Shiller 20-City Composite index, month-over-month, April (1.80% expected, 1.60% in March); S&P CoreLogic Case-Shiller 20-City Composite index, year-over-year, April (13.27% in March); Conference Board Consumer Confidence, June (119.0 expected, 117.2 in May)\nWednesday: MBA Mortgage Applications, week ended June 25 (2.1% during prior week); ADP Employment Change, June (575,000 expected, 978,000 in May); MNI Chicago PMI, June (70.0 expected, 75.2 in May); Pending home sales, month-over-month, May (-1.0% expected, -4.4% in April);\nThursday: Challenger Job Cuts, year-over-year, June (-93.8% in May); Initial jobless claims, week ended June 26 (380,000 expected, 411,000 during prior week); Continuing claims, week ended June 19 (3.39 million during prior week); Markit US Manufacturing PMI, June final (62.6 in prior print); Construction Spending month-over-month, May (0.5% expected 0.2% in April); ISM Manufacturing, June (61.0 expected, 61.2 in May)\nFriday: Change in non-farm payrolls, June (700,000 expected, 559,000 in May); Unemployment rate, June (5.6% expected, 5.8% in May); Average hourly earnings year-over-year, June (3.6% expected, 2.0% in May); Average hourly earnings, month-over-month, June (0.4% expected, 0.5% in May); Trade balance, May (-$71.0 billion expected, -$68.9 billion in April); Factory orders, May (1.5% expected, -0.6% in April); Durable goods orders, May final (2.3% in prior print); Durable goods orders excluding transportation, May final (2.3% in prior print); Non-defense capital goods orders excluding aircraft, May final (-0.1% in April); Non-defense capital goods shipments excluding aircraft, May final (0.9% in prior print)\n\nEarnings Calendar\n\nMonday: N/A\nTuesday: N/A\nWednesday: Constellation Brands (STZ), Bed Bath & Beyond (BBBY), General Mills (GIS) before market open; Micron Technologies (MU) after market close\nThursday: Walgreens Boots Alliance (WBA) before market open\nFriday: N/A","news_type":1},"isVote":1,"tweetType":1,"viewCount":29,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174404365,"gmtCreate":1627119653957,"gmtModify":1703484539191,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/174404365","repostId":"1170350340","repostType":4,"isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155627757,"gmtCreate":1625415493879,"gmtModify":1703741483576,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/155627757","repostId":"1189605893","repostType":4,"repost":{"id":"1189605893","pubTimestamp":1625363433,"share":"https://www.laohu8.com/m/news/1189605893?lang=&edition=full","pubTime":"2021-07-04 09:50","market":"us","language":"en","title":"When Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help.","url":"https://stock-news.laohu8.com/highlight/detail?id=1189605893","media":"Barron's","summary":"It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a time that some strategists see a potential turn ahead in the markets.Investors’ portfolios are chock-full of these stocks, leaving them less diversified for a possible turn in the market. These companies are already beginning to slow down. Take Amazon, which accounts for roughly 4% of the S&P 500—m","content":"<p>It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a time that some strategists see a potential turn ahead in the markets.</p>\n<p>Owning the Big Five—Apple(ticker: AAPL),Microsoft(MSFT),Amazon.com(AMZN),Facebook(FB), andAlphabet’sGoogle (GOOGL)—has been lucrative: These companies have logged gains of 125% to 245% since the beginning of 2019. These stocks are widely held, not just by index investors, but also among all kinds of active fund managers—including those who don’t typically own growth companies.</p>\n<p>Together, the five companies account for almost 22% of theS&amp;P 500index. Of course, the Nifty Fifty stocks dominated the 1970s, and blue-chip stalwarts such asIBM(IBM) andAT&amp;T(T) ruled the 1980s. Those companies may have wielded even more influence over the broad economy than today’s biggest companies do, but the level of market concentration is higher now, and the Big Five’s impact on the broad market is much greater because of their size, according to Howard Silverblatt, senior index analyst at S&amp;P Dow Jones Indices. Apple and Microsoft are the first U.S. stocks whose market values have soared past $2 trillion. Though it has slipped a bit this year, Apple hit peak concentration for a single stock in the S&amp;P 500 last year at about 7%, higher than IBM’s in its heyday.</p>\n<p>There are signs that investor appetite for risk is waning, which could hurt the prospects for the growth of Big Tech. There has beena selloff in speculative cornersof the market, such as cryptocurrencies and special purpose acquisition companies, better known as SPACs. And, of course, there is therising consternationabout both inflation andinterest ratesmoving higher. If the Big Fiveslow downor tumble, the entire market—including all index investors—will feel it. If these stocks decline by 10%, for instance, in order for the S&amp;P 500 to keep trading flat, the bottom 100 stocks in the index would have to rise by a collective 75%, according toGoldman Sachs.This dynamic explains why narrow market breadth has often preceded big losses.</p>\n<p><b>When Less May Be More</b></p>\n<p>These funds are more diversified than the S&amp;P 500, and could be more resilient if the tech megacaps stumble.</p>\n<p><img src=\"https://static.tigerbbs.com/d308adf067ef3205da5f7c1bddb75e77\" tg-width=\"697\" tg-height=\"366\" referrerpolicy=\"no-referrer\"></p>\n<p>Investors’ portfolios are chock-full of these stocks, leaving them less diversified for a possible turn in the market. These companies are already beginning to slow down. Take Amazon, which accounts for roughly 4% of the S&amp;P 500—more than the energy, real estate, materials, or utilities sectors. Amazon hasn’t hit an all-time high this year, and has underperformed the S&amp;P 500 by 25 percentage points since September 2020 amid questions about the company’s e-commerce growth. Add in regulatory pressure, which could make the path ahead for these companies rockier, such as a House panel’s approval of sweeping legislation last month that could curb the dominance of companies like Google and Facebook.</p>\n<p>A global recovery could also make the Big Five stocks less special. “The story line with megacap tech stocks has been that economic growth has been hard to find and rates so low that you wanted to own powerful growth stocks,” says Scott Opsal, director of research at Leuthold Group. “But for those who think the economy has room to run, you don’t have to pay up for the growth that investors were willing to pay for in 2018 or 2019.” For Opsal, the changing backdrop is reason for a barbell approach, owning some of the technology winners but also diversifying into a wider array of more value-oriented and smaller stocks.</p>\n<p>With the market so concentrated in a handful of megacap tech stocks, Opsal says that investors may want the type of funds that do what the fund consultants advise against: be willing to drift out of their lane, and be willing to not fit neatly into a growth or value category.</p>\n<p>It isn’t easy finding good fund managers with the acumen to pick the right stocks beyond the other 495, the grit to avoid the crowd, and the track record that demonstrates to investors that they can be different and correct. Performance doesn’t look all that great for managers whose wariness led them to own less of the technology darlings that drove the market to highs over the past several years. And the decision to not own any—or even just less—of these companies sometimes pushed managers out of theirMorningstarcategory into areas like large-cap blend.</p>\n<p>High active share has often been a go-to gauge for finding fund managers who look different than their benchmarks. That’s a good place to start, but different doesn’t always lead to outperformance, so Morningstar strategist Alec Lucas recommends understanding what is in the managers’ portfolios and the thinking behind the picks—as well as when they buy or sell the stocks.</p>\n<p><i>Barron’s</i>looked for large-cap growth-oriented managers that don’t usually stick too close to an index and have long, and strong, track records. We turned up both diversified and concentrated funds; some didn’t own any of the Big Five, while some owned a bit, albeit less than their peers. All may offer investors a way to tweak rather than overhaul their portfolios, giving them some more diversification while still tapping into large, growing companies.</p>\n<p><b>A Concentrated Approach</b></p>\n<p>The Akre Focus fund (AKREX) falls into the concentrated bucket. It owns about 20 well-managed companies that the managers, John Neff and Chris Cerrone, think are superior businesses and adept at reinvesting in the companies. The fund has just a 4% turnover, so it holds on to its investments for years. That has been a winning long-term strategy: Akre Focus has an 18% average annual return over the past decade, beating 84% of its peers.</p>\n<p>The past few years have been tough, though: The fund hasn’t owned the Big Five, and has just 13% of its assets in any kind of technology company, whereas most of its peers have close to a third in tech. It has averaged 22% annually over the past three years; not too shabby on an absolute basis, but landing it midpack among competitors. The managers are resolute in finding growth elsewhere. “They are tremendous businesses, but how many more times can they double in value, given their current size? Maybe many times, but it’s an important question,” says Neff. “We’ve generally focused on smaller businesses with ostensibly longer runways with which to compound.”</p>\n<p>The tech investments that the managers have made are largely in software companies like Constellation Software (CSU.Canada),Adobe(ADBE), andCoStar Group(CSGP) that have long paths to growth ahead of them as more companies rely on their products. The fund also looks for companies with the type of “network effect” that makes Google and Amazon attractive—the business model gets stronger as more people use it, and makes the company that much harder to replace. Top holdings like Mastercard (MA) andVisa(V) fit that description.</p>\n<p>Many of the companies the duo favors are positioned to hold up, stand out, or even benefit from difficult times, like auto-parts retailerO’Reilly Automotive(ORLY), which recently reported its best comparable same-store sales in 25 years. Given the market backdrop, co-manager Cerrone says they aren’t finding that many bargains today—and they are willing to hold cash if that continues. Today, cash sits at just 2%. “We frankly wish we had more cash than we do today,” Cerrone says. “We’re not bearish, but we think we will be presented with better opportunities.”</p>\n<p><b>Underappreciated Growth</b></p>\n<p>The $10.1 billionPrimecap Odyssey Growthfund (POGRX) hunts for companies with above-average earnings growth, but not one of the Big Five tech stocks can be spotted in their top 10 holdings.</p>\n<p>That underweight has been painful; the fund’s 19.6% annual average return over the past five years puts it in the bottom third of large growth funds. But the managers’ willingness to stick with companies with above-average growth for the long haul, often adding to their shares in downturns, wins them fans.</p>\n<p>The fund’s managers are investing in some of the broad trends driving the Big Five—like e-commerce and cloud computing—but doing it differently, says Morningstar’s Lucas. For example, the fund owns Alibaba Group Holding (BABA) instead of Amazon, opting for China’s version of an e-commerce and cloud-computing giant that also trades at a meaningful discount to the U.S. company, Lucas says. Primecap declined to comment.</p>\n<p>About 18% of the fund is invested outside the U.S. and its average price/earnings ratio is 20, cheaper than the 29 for the large growth category, according to Morningstar. Though the fund isn’t concentrated in the Big Five tech stocks, it has double the stake in healthcare, almost 30% of assets, than other large growth funds. Its top 10 positions includeEli Lilly(LLY),Biogen(BIIB),Abiomed(ABMD), andAmgen(AMGN).</p>\n<p><b>Lean Profit Machines</b></p>\n<p>The $10.3 billionJensen Quality Growth(JENSX) focuses on companies that generate 15% return on equity for 10 consecutive years—a metric that co-manager Eric Schoenstein sees as a gauge forfoundational excellenceand fortress-like competitive advantages. Amazon and Facebook don’t make the cut. Alphabet, Microsoft, and Apple rank among the top holdings, but Schoenstein holds roughly a third less than in the Russell 1000 Growth index. Schoenstein says he is trying to be conscious of the risk of concentration if the momentum trade reverts or regulation puts a target on these companies’ backs.</p>\n<p>Schoenstein’s caution and a focus on quality companies have pushed the fund toward the bottom decile of the large blend Morningstar category year to date, with a return of 11.6%. But the fund’s 17.3% average return over the past five years puts it in the top 35% of large-blend funds tracked by Morningstar. Plus, the fund’s risk-adjusted, long-term performance stands out, losing about 77% as much as the S&amp;P 500 and Russell 1000 Growth indexes when stocks have fallen since Schoenstein began co-managing the fund in 2004, according to Morningstar.</p>\n<p>Lately, Schoenstein has been adding to quality stocks that may not be growing as fast but are more attractively priced as investors have left them behind, such asStarbucks(SBUX)—a stock that had been too pricey until the pandemic hit. “What better business is there to be in than branded addiction?” Schoenstein asks.</p>\n<p>While offices in New York City may not get to 100% occupancy, Schoenstein sees hybrid work situations continuing to drive business to Starbucks, potentially with fewer customers but higher sales, as one person buys for multiple people. The company is also closing stores to become more efficient and moving more toward quick-serve and grab-and-go in some locations rather than an all-day café experience.</p>\n<p><img src=\"https://static.tigerbbs.com/81aeb359e30f7394a363f00feb8ce0cf\" tg-width=\"707\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p>\n<p>Insurance is another area that Schoenstein has been adding to, with companies like Marsh &amp; McLennan (MMC), which is dominant in multiple businesses—insurance brokerage, health benefits, and retirement asset management with Mercer. Switching costs are high in the world of insurance, and the company benefits from new trends in cybersecurity and data privacy, as well.</p>\n<p>Another recent purchase: Data-analytics providerVerisk Analytics(VRSK), which serves property and casualty insurers and gets about 80% of its revenue from subscriptions and long-term agreements. The company helps take raw data and analyze it to help insurers, for example, underwrite policies. Says Schoenstein: “Some recovery is still needed because business has struggled over the past year, with business failures and companies putting [projects] on hold. So, it’s a small position, but I think about companies that are super-entrenched with their customers.”</p>\n<p><b>Multiple Managers</b></p>\n<p>Unlike the Jensen and Akre funds, which typically own 20 to 30 stocks, the $87 billionAmerican Funds Amcapfund (AMCPX) is well diversified, with more than 200 holdings, as managers hunt for the best ideas regardless of size.Abbott Laboratories(ABT),Broadcom(AVGO),EOG Resources(EOG), and Mastercard are top holdings along with four of the megacap tech quintuplets.</p>\n<p>But the fund is valuation-sensitive, and its allocation to the Big Five is lower than other growth managers, hurting its performance over the past five years; its average annual return of 17.3% puts it in the bottom decile of performance. For investors looking for diversification, the fund is a relatively cheap option—charging an expense ratio of 0.68%—that isn’t beholden to a benchmark and is run by multiple managers who can hunt for their highest-conviction ideas.</p>\n<p>Managers favor companies with strong competitive positioning, which can allow companies to boost prices and better weather near-term inflationary periods. While that includes a healthy helping of healthcare and technology stocks, managers have also gravitated toward cyclical growth companies, including semiconductor firms, travel-related companies, auto suppliers, retailers, and financials benefiting from secular growth as well as getting an additional boost from the Covid recovery.</p>\n<p>“It’s very consistent, and a good core fund with a lot of good stockpickers behind it,” says Russel Kinnel, Morningstar’s director of manager research. “You want a fund to have some good technology exposure because it’s a dynamic sector.”</p>\n<p><b>Growth on the Cheap</b></p>\n<p>The $357 million Cambiar Opportunity fund (CAMOX) is a concentrated fund that owns roughly 40 stocks. The fund looks for relative values among industry winners that boast strong long-term demand prospects and pricing power that differentiate it from some of its peers. The fund’s 16% average annual return over the past five years helped it beat 94% of its large-value peers.</p>\n<p>The fund holds Amazon, which it bought for the first time in early 2020 when the market wasn’t giving the e-commerce behemoth much value for its cloud business. It has been harder to own other megacap technology stocks, says Ania Aldrich, an investment principal at Cambiar. That’s in part because of their high valuations, but especially as exchange-traded funds continue to receive record-high inflows—$400 billion in the first half of 2021, versus $507 billion for all of last year, according to ETF.com—which contributes to the market concentration.</p>\n<p>Instead, the fund has focused on areas such as financials, including JPMorgan Chase (JPM) and Charles Schwab (SCHW), that can grow in this economic environment. Both would benefit from higher interest rates, but Aldrich says that wasn’t the reason to buy the stocks. Schwab, for example, is taking market share in wealth management, and its recent acquisition of Ameritrade gives it more heft and the ability to be more cost-efficient.</p>\n<p>Also attractive are companies that haven’t yet seen a full reopening of their businesses, like casino operatorPenn National Gaming(PENN), which Aldrich says is well positioned as states look for more revenue andallow online gambling, and food distributorSysco(SYY), which has yet to benefit from colleges and conferences getting back into full swing. While Sysco’s shares are up 43% in the past year, Aldrich sees more room for gains, noting that the company is a market leader and can take market share as smaller firms consolidate. Plus, it has pricing power to pass on higher commodity costs since it is a distributor.</p>\n<p>Another recent addition:Uber Technologies(UBER), which Aldrich says isn’t just a reopening beneficiary but also has increased the reach of its platform by moving into food delivery and opening the door to other services. “In the past, it was hard to outperform when you weren’t involved in the [concentrated stocks], but we see these trends as transitory. As growth normalizes, the value of other stocks should be recognized.”</p>","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>When Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help.</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\">\nWhen Big Tech Stumbles, the Market Can Fall Hard. These 5 Funds Can Help.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 09:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/big-tech-stocks-risk-funds-51625257865?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a...</p>\n\n<a href=\"https://www.barrons.com/articles/big-tech-stocks-risk-funds-51625257865?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":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/big-tech-stocks-risk-funds-51625257865?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189605893","content_text":"It is possible to have too much of a good thing. After riding five megacap technology stocks to new highs after new highs, investors’ portfolios may be uncomfortably concentrated in these winners at a time that some strategists see a potential turn ahead in the markets.\nOwning the Big Five—Apple(ticker: AAPL),Microsoft(MSFT),Amazon.com(AMZN),Facebook(FB), andAlphabet’sGoogle (GOOGL)—has been lucrative: These companies have logged gains of 125% to 245% since the beginning of 2019. These stocks are widely held, not just by index investors, but also among all kinds of active fund managers—including those who don’t typically own growth companies.\nTogether, the five companies account for almost 22% of theS&P 500index. Of course, the Nifty Fifty stocks dominated the 1970s, and blue-chip stalwarts such asIBM(IBM) andAT&T(T) ruled the 1980s. Those companies may have wielded even more influence over the broad economy than today’s biggest companies do, but the level of market concentration is higher now, and the Big Five’s impact on the broad market is much greater because of their size, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. Apple and Microsoft are the first U.S. stocks whose market values have soared past $2 trillion. Though it has slipped a bit this year, Apple hit peak concentration for a single stock in the S&P 500 last year at about 7%, higher than IBM’s in its heyday.\nThere are signs that investor appetite for risk is waning, which could hurt the prospects for the growth of Big Tech. There has beena selloff in speculative cornersof the market, such as cryptocurrencies and special purpose acquisition companies, better known as SPACs. And, of course, there is therising consternationabout both inflation andinterest ratesmoving higher. If the Big Fiveslow downor tumble, the entire market—including all index investors—will feel it. If these stocks decline by 10%, for instance, in order for the S&P 500 to keep trading flat, the bottom 100 stocks in the index would have to rise by a collective 75%, according toGoldman Sachs.This dynamic explains why narrow market breadth has often preceded big losses.\nWhen Less May Be More\nThese funds are more diversified than the S&P 500, and could be more resilient if the tech megacaps stumble.\n\nInvestors’ portfolios are chock-full of these stocks, leaving them less diversified for a possible turn in the market. These companies are already beginning to slow down. Take Amazon, which accounts for roughly 4% of the S&P 500—more than the energy, real estate, materials, or utilities sectors. Amazon hasn’t hit an all-time high this year, and has underperformed the S&P 500 by 25 percentage points since September 2020 amid questions about the company’s e-commerce growth. Add in regulatory pressure, which could make the path ahead for these companies rockier, such as a House panel’s approval of sweeping legislation last month that could curb the dominance of companies like Google and Facebook.\nA global recovery could also make the Big Five stocks less special. “The story line with megacap tech stocks has been that economic growth has been hard to find and rates so low that you wanted to own powerful growth stocks,” says Scott Opsal, director of research at Leuthold Group. “But for those who think the economy has room to run, you don’t have to pay up for the growth that investors were willing to pay for in 2018 or 2019.” For Opsal, the changing backdrop is reason for a barbell approach, owning some of the technology winners but also diversifying into a wider array of more value-oriented and smaller stocks.\nWith the market so concentrated in a handful of megacap tech stocks, Opsal says that investors may want the type of funds that do what the fund consultants advise against: be willing to drift out of their lane, and be willing to not fit neatly into a growth or value category.\nIt isn’t easy finding good fund managers with the acumen to pick the right stocks beyond the other 495, the grit to avoid the crowd, and the track record that demonstrates to investors that they can be different and correct. Performance doesn’t look all that great for managers whose wariness led them to own less of the technology darlings that drove the market to highs over the past several years. And the decision to not own any—or even just less—of these companies sometimes pushed managers out of theirMorningstarcategory into areas like large-cap blend.\nHigh active share has often been a go-to gauge for finding fund managers who look different than their benchmarks. That’s a good place to start, but different doesn’t always lead to outperformance, so Morningstar strategist Alec Lucas recommends understanding what is in the managers’ portfolios and the thinking behind the picks—as well as when they buy or sell the stocks.\nBarron’slooked for large-cap growth-oriented managers that don’t usually stick too close to an index and have long, and strong, track records. We turned up both diversified and concentrated funds; some didn’t own any of the Big Five, while some owned a bit, albeit less than their peers. All may offer investors a way to tweak rather than overhaul their portfolios, giving them some more diversification while still tapping into large, growing companies.\nA Concentrated Approach\nThe Akre Focus fund (AKREX) falls into the concentrated bucket. It owns about 20 well-managed companies that the managers, John Neff and Chris Cerrone, think are superior businesses and adept at reinvesting in the companies. The fund has just a 4% turnover, so it holds on to its investments for years. That has been a winning long-term strategy: Akre Focus has an 18% average annual return over the past decade, beating 84% of its peers.\nThe past few years have been tough, though: The fund hasn’t owned the Big Five, and has just 13% of its assets in any kind of technology company, whereas most of its peers have close to a third in tech. It has averaged 22% annually over the past three years; not too shabby on an absolute basis, but landing it midpack among competitors. The managers are resolute in finding growth elsewhere. “They are tremendous businesses, but how many more times can they double in value, given their current size? Maybe many times, but it’s an important question,” says Neff. “We’ve generally focused on smaller businesses with ostensibly longer runways with which to compound.”\nThe tech investments that the managers have made are largely in software companies like Constellation Software (CSU.Canada),Adobe(ADBE), andCoStar Group(CSGP) that have long paths to growth ahead of them as more companies rely on their products. The fund also looks for companies with the type of “network effect” that makes Google and Amazon attractive—the business model gets stronger as more people use it, and makes the company that much harder to replace. Top holdings like Mastercard (MA) andVisa(V) fit that description.\nMany of the companies the duo favors are positioned to hold up, stand out, or even benefit from difficult times, like auto-parts retailerO’Reilly Automotive(ORLY), which recently reported its best comparable same-store sales in 25 years. Given the market backdrop, co-manager Cerrone says they aren’t finding that many bargains today—and they are willing to hold cash if that continues. Today, cash sits at just 2%. “We frankly wish we had more cash than we do today,” Cerrone says. “We’re not bearish, but we think we will be presented with better opportunities.”\nUnderappreciated Growth\nThe $10.1 billionPrimecap Odyssey Growthfund (POGRX) hunts for companies with above-average earnings growth, but not one of the Big Five tech stocks can be spotted in their top 10 holdings.\nThat underweight has been painful; the fund’s 19.6% annual average return over the past five years puts it in the bottom third of large growth funds. But the managers’ willingness to stick with companies with above-average growth for the long haul, often adding to their shares in downturns, wins them fans.\nThe fund’s managers are investing in some of the broad trends driving the Big Five—like e-commerce and cloud computing—but doing it differently, says Morningstar’s Lucas. For example, the fund owns Alibaba Group Holding (BABA) instead of Amazon, opting for China’s version of an e-commerce and cloud-computing giant that also trades at a meaningful discount to the U.S. company, Lucas says. Primecap declined to comment.\nAbout 18% of the fund is invested outside the U.S. and its average price/earnings ratio is 20, cheaper than the 29 for the large growth category, according to Morningstar. Though the fund isn’t concentrated in the Big Five tech stocks, it has double the stake in healthcare, almost 30% of assets, than other large growth funds. Its top 10 positions includeEli Lilly(LLY),Biogen(BIIB),Abiomed(ABMD), andAmgen(AMGN).\nLean Profit Machines\nThe $10.3 billionJensen Quality Growth(JENSX) focuses on companies that generate 15% return on equity for 10 consecutive years—a metric that co-manager Eric Schoenstein sees as a gauge forfoundational excellenceand fortress-like competitive advantages. Amazon and Facebook don’t make the cut. Alphabet, Microsoft, and Apple rank among the top holdings, but Schoenstein holds roughly a third less than in the Russell 1000 Growth index. Schoenstein says he is trying to be conscious of the risk of concentration if the momentum trade reverts or regulation puts a target on these companies’ backs.\nSchoenstein’s caution and a focus on quality companies have pushed the fund toward the bottom decile of the large blend Morningstar category year to date, with a return of 11.6%. But the fund’s 17.3% average return over the past five years puts it in the top 35% of large-blend funds tracked by Morningstar. Plus, the fund’s risk-adjusted, long-term performance stands out, losing about 77% as much as the S&P 500 and Russell 1000 Growth indexes when stocks have fallen since Schoenstein began co-managing the fund in 2004, according to Morningstar.\nLately, Schoenstein has been adding to quality stocks that may not be growing as fast but are more attractively priced as investors have left them behind, such asStarbucks(SBUX)—a stock that had been too pricey until the pandemic hit. “What better business is there to be in than branded addiction?” Schoenstein asks.\nWhile offices in New York City may not get to 100% occupancy, Schoenstein sees hybrid work situations continuing to drive business to Starbucks, potentially with fewer customers but higher sales, as one person buys for multiple people. The company is also closing stores to become more efficient and moving more toward quick-serve and grab-and-go in some locations rather than an all-day café experience.\n\nInsurance is another area that Schoenstein has been adding to, with companies like Marsh & McLennan (MMC), which is dominant in multiple businesses—insurance brokerage, health benefits, and retirement asset management with Mercer. Switching costs are high in the world of insurance, and the company benefits from new trends in cybersecurity and data privacy, as well.\nAnother recent purchase: Data-analytics providerVerisk Analytics(VRSK), which serves property and casualty insurers and gets about 80% of its revenue from subscriptions and long-term agreements. The company helps take raw data and analyze it to help insurers, for example, underwrite policies. Says Schoenstein: “Some recovery is still needed because business has struggled over the past year, with business failures and companies putting [projects] on hold. So, it’s a small position, but I think about companies that are super-entrenched with their customers.”\nMultiple Managers\nUnlike the Jensen and Akre funds, which typically own 20 to 30 stocks, the $87 billionAmerican Funds Amcapfund (AMCPX) is well diversified, with more than 200 holdings, as managers hunt for the best ideas regardless of size.Abbott Laboratories(ABT),Broadcom(AVGO),EOG Resources(EOG), and Mastercard are top holdings along with four of the megacap tech quintuplets.\nBut the fund is valuation-sensitive, and its allocation to the Big Five is lower than other growth managers, hurting its performance over the past five years; its average annual return of 17.3% puts it in the bottom decile of performance. For investors looking for diversification, the fund is a relatively cheap option—charging an expense ratio of 0.68%—that isn’t beholden to a benchmark and is run by multiple managers who can hunt for their highest-conviction ideas.\nManagers favor companies with strong competitive positioning, which can allow companies to boost prices and better weather near-term inflationary periods. While that includes a healthy helping of healthcare and technology stocks, managers have also gravitated toward cyclical growth companies, including semiconductor firms, travel-related companies, auto suppliers, retailers, and financials benefiting from secular growth as well as getting an additional boost from the Covid recovery.\n“It’s very consistent, and a good core fund with a lot of good stockpickers behind it,” says Russel Kinnel, Morningstar’s director of manager research. “You want a fund to have some good technology exposure because it’s a dynamic sector.”\nGrowth on the Cheap\nThe $357 million Cambiar Opportunity fund (CAMOX) is a concentrated fund that owns roughly 40 stocks. The fund looks for relative values among industry winners that boast strong long-term demand prospects and pricing power that differentiate it from some of its peers. The fund’s 16% average annual return over the past five years helped it beat 94% of its large-value peers.\nThe fund holds Amazon, which it bought for the first time in early 2020 when the market wasn’t giving the e-commerce behemoth much value for its cloud business. It has been harder to own other megacap technology stocks, says Ania Aldrich, an investment principal at Cambiar. That’s in part because of their high valuations, but especially as exchange-traded funds continue to receive record-high inflows—$400 billion in the first half of 2021, versus $507 billion for all of last year, according to ETF.com—which contributes to the market concentration.\nInstead, the fund has focused on areas such as financials, including JPMorgan Chase (JPM) and Charles Schwab (SCHW), that can grow in this economic environment. Both would benefit from higher interest rates, but Aldrich says that wasn’t the reason to buy the stocks. Schwab, for example, is taking market share in wealth management, and its recent acquisition of Ameritrade gives it more heft and the ability to be more cost-efficient.\nAlso attractive are companies that haven’t yet seen a full reopening of their businesses, like casino operatorPenn National Gaming(PENN), which Aldrich says is well positioned as states look for more revenue andallow online gambling, and food distributorSysco(SYY), which has yet to benefit from colleges and conferences getting back into full swing. While Sysco’s shares are up 43% in the past year, Aldrich sees more room for gains, noting that the company is a market leader and can take market share as smaller firms consolidate. Plus, it has pricing power to pass on higher commodity costs since it is a distributor.\nAnother recent addition:Uber Technologies(UBER), which Aldrich says isn’t just a reopening beneficiary but also has increased the reach of its platform by moving into food delivery and opening the door to other services. “In the past, it was hard to outperform when you weren’t involved in the [concentrated stocks], but we see these trends as transitory. As growth normalizes, the value of other stocks should be recognized.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155650071,"gmtCreate":1625415515693,"gmtModify":1703741483252,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go","listText":"Go","text":"Go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/155650071","repostId":"1109375790","repostType":4,"repost":{"id":"1109375790","pubTimestamp":1625370494,"share":"https://www.laohu8.com/m/news/1109375790?lang=&edition=full","pubTime":"2021-07-04 11:48","market":"us","language":"en","title":"Why high-quality, trustworthy companies have beaten the S&P 500 by 30%-50%","url":"https://stock-news.laohu8.com/highlight/detail?id=1109375790","media":"MarketWatch","summary":"More predictable businesses tend to be more profitable stock investments.Trust is one of the most valuable assets a company can cultivate.  Within an organization, trust percolates into culture. Outside an organization, it translates into loyalty.  Quality shareholders  who value long-term trust among all stakeholders — employees, customers and shareholders — maintain this viewpoint in their investment practice.TheTrust Across America initiative has identified the most trustworthy U.S. public co","content":"<blockquote>\n <b>More predictable businesses tend to be more profitable stock investments.</b>\n</blockquote>\n<p>Trust is one of the most valuable assets a company can cultivate.&nbsp; Within an organization, trust percolates into culture.&nbsp;Outside an organization, it translates into loyalty.&nbsp; Quality shareholders (QS) who value long-term trust among all stakeholders — employees, customers and shareholders —&nbsp;maintain this&nbsp;viewpoint in their investment practice.</p>\n<p>TheTrust Across America(TAA) initiative has identified the most&nbsp;trustworthy&nbsp;U.S. public&nbsp;companies using objective&nbsp;and quantitative&nbsp;indicators including accounting&nbsp;conservativeness&nbsp;and financial stability, as well as a secondary screen of more subjective criteria such as employee reviews and news reports.</p>\n<p>Companies regarded as trustworthy also tend to rate highly in rankings of shareholder quality produced by the&nbsp;Quality Shareholders Initiative&nbsp;(QSI), which I run, as well as the proprietary database of&nbsp;EQX, which I use to cross-check the QSI data.</p>\n<p>TAA’s assessment of the S&amp;P 500SPX,+0.75%in 2020 identified 51 companies, of which 49&nbsp;are also included in the QSI rankings. Comparing the two, more than one-fourth of the top TAA companies are in the top decile of the QSI; two-thirds are in the top quarter, and all but two (92%) are in the top half.</p>\n<p>Notably, both the TAA top 10 and the QSI Top 25 outperformed the S&amp;P 500 by 30% and 50%, respectively, in recent five-year periods. Here’s a sampling of companies scoring high on both trust and quality:</p>\n<p>Texas InstrumentsTXN,+0.72%makes most of its revenue selling computer chips and is among the world’s largest manufacturers of semiconductors. Founded by a group of electrical engineers in 1951, the company boasts a culture of intelligent innovation. Its business is protected by four protective “moats” including: manufacturing and technology skill thanks to its employees; a broad portfolio of processing chips to meet a wide range of customer needs; the reach of its market channels thanks to both, and its diversity and longevity.</p>\n<p>For investors, this adds up to a winning recipe, particularly when combined with Texas Instruments’s capital management strategy, which is to maximize the company’s long-term growth in free cash-flow per share and to&nbsp;allocate such capital in accordance with the QS playbook&nbsp;that prioritizes wise reinvestment, disciplined acquisitions, low-priced share buybacks and shareholder dividends. Some of the company’s notable QSs include: Alliance Bernstein, Bessemer Group, Capital World Investors, State Farm Mutual, and T. Rowe Price Group.</p>\n<p>Another stock on this list, EcolabECL,+0.77%,is a global leader in water treatment. Founded in 1923 as the Economics Laboratory, its long-term outlook shows in the longevity of senior leadership: the company has had just seven CEOs in almost 100 years of existence.</p>\n<p>Those CEOs inculcated a culture of customer care, a relentless focus on helping customers solve problems and meet goals. A learning organization, such a performance culture permeates the business from production to sales, as employees commit to the long-term goal of being indispensable to customers. Management rewards that employee conviction with long-term incentives and a high degree of autonomy.&nbsp;Ecolab’s QSs include: Cantillon Capital, Clearbridge Investments, Franklin Resources, and the Gates Foundation.</p>\n<p>Finally, consider Ball CorporationBLL,-0.68%,the world’s largest manufacturer of recyclable containers.&nbsp; Founded in the late 1800s by two brother-entrepreneurs who foresaw that the Mason jar patent was about to expire and built a glassblowing facility to manufacture such jars.</p>\n<p>Ball remains characterized by a culture of family, innovation and natural-resources conscientiousness. For instance, Ball foresaw the ecological and commercial need to pivot away from PET and glass containers, both costly to recycle and posing environmental damage, and towards eco-friendly and profitable aluminum. The company adopts economic value added (EVA) to assure every dollar is well-spent, long-term employee incentive compensation to reward long-term sustainable growth, and a spirit of entrepreneurial freedom. QSs include: Chilton Investment Co.; T. Rowe Price; Wellington&nbsp;Management Group and&nbsp;Winslow Capital Management.</p>\n<p>While some investors focus solely on the bottom line and others only on signals of corporate virtue, QSs are holistic, considering the inherent relationship between trust and long-term value. Nebulous as the notion of trust in corporate culture might seem, it’s a profitable as well as ethical value to probe.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why high-quality, trustworthy companies have beaten the S&P 500 by 30%-50%</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 high-quality, trustworthy companies have beaten the S&P 500 by 30%-50%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 11:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/why-high-quality-trustworthy-companies-have-beaten-the-s-p-500-by-30-50-11625020379?mod=mw_latestnews><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>More predictable businesses tend to be more profitable stock investments.\n\nTrust is one of the most valuable assets a company can cultivate.  Within an organization, trust percolates into culture. ...</p>\n\n<a href=\"https://www.marketwatch.com/story/why-high-quality-trustworthy-companies-have-beaten-the-s-p-500-by-30-50-11625020379?mod=mw_latestnews\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/why-high-quality-trustworthy-companies-have-beaten-the-s-p-500-by-30-50-11625020379?mod=mw_latestnews","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109375790","content_text":"More predictable businesses tend to be more profitable stock investments.\n\nTrust is one of the most valuable assets a company can cultivate.  Within an organization, trust percolates into culture. Outside an organization, it translates into loyalty.  Quality shareholders (QS) who value long-term trust among all stakeholders — employees, customers and shareholders — maintain this viewpoint in their investment practice.\nTheTrust Across America(TAA) initiative has identified the most trustworthy U.S. public companies using objective and quantitative indicators including accounting conservativeness and financial stability, as well as a secondary screen of more subjective criteria such as employee reviews and news reports.\nCompanies regarded as trustworthy also tend to rate highly in rankings of shareholder quality produced by the Quality Shareholders Initiative (QSI), which I run, as well as the proprietary database of EQX, which I use to cross-check the QSI data.\nTAA’s assessment of the S&P 500SPX,+0.75%in 2020 identified 51 companies, of which 49 are also included in the QSI rankings. Comparing the two, more than one-fourth of the top TAA companies are in the top decile of the QSI; two-thirds are in the top quarter, and all but two (92%) are in the top half.\nNotably, both the TAA top 10 and the QSI Top 25 outperformed the S&P 500 by 30% and 50%, respectively, in recent five-year periods. Here’s a sampling of companies scoring high on both trust and quality:\nTexas InstrumentsTXN,+0.72%makes most of its revenue selling computer chips and is among the world’s largest manufacturers of semiconductors. Founded by a group of electrical engineers in 1951, the company boasts a culture of intelligent innovation. Its business is protected by four protective “moats” including: manufacturing and technology skill thanks to its employees; a broad portfolio of processing chips to meet a wide range of customer needs; the reach of its market channels thanks to both, and its diversity and longevity.\nFor investors, this adds up to a winning recipe, particularly when combined with Texas Instruments’s capital management strategy, which is to maximize the company’s long-term growth in free cash-flow per share and to allocate such capital in accordance with the QS playbook that prioritizes wise reinvestment, disciplined acquisitions, low-priced share buybacks and shareholder dividends. Some of the company’s notable QSs include: Alliance Bernstein, Bessemer Group, Capital World Investors, State Farm Mutual, and T. Rowe Price Group.\nAnother stock on this list, EcolabECL,+0.77%,is a global leader in water treatment. Founded in 1923 as the Economics Laboratory, its long-term outlook shows in the longevity of senior leadership: the company has had just seven CEOs in almost 100 years of existence.\nThose CEOs inculcated a culture of customer care, a relentless focus on helping customers solve problems and meet goals. A learning organization, such a performance culture permeates the business from production to sales, as employees commit to the long-term goal of being indispensable to customers. Management rewards that employee conviction with long-term incentives and a high degree of autonomy. Ecolab’s QSs include: Cantillon Capital, Clearbridge Investments, Franklin Resources, and the Gates Foundation.\nFinally, consider Ball CorporationBLL,-0.68%,the world’s largest manufacturer of recyclable containers.  Founded in the late 1800s by two brother-entrepreneurs who foresaw that the Mason jar patent was about to expire and built a glassblowing facility to manufacture such jars.\nBall remains characterized by a culture of family, innovation and natural-resources conscientiousness. For instance, Ball foresaw the ecological and commercial need to pivot away from PET and glass containers, both costly to recycle and posing environmental damage, and towards eco-friendly and profitable aluminum. The company adopts economic value added (EVA) to assure every dollar is well-spent, long-term employee incentive compensation to reward long-term sustainable growth, and a spirit of entrepreneurial freedom. QSs include: Chilton Investment Co.; T. Rowe Price; Wellington Management Group and Winslow Capital Management.\nWhile some investors focus solely on the bottom line and others only on signals of corporate virtue, QSs are holistic, considering the inherent relationship between trust and long-term value. Nebulous as the notion of trust in corporate culture might seem, it’s a profitable as well as ethical value to probe.","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152636727,"gmtCreate":1625286612869,"gmtModify":1703740014057,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/152636727","repostId":"1197906560","repostType":4,"repost":{"id":"1197906560","pubTimestamp":1625285328,"share":"https://www.laohu8.com/m/news/1197906560?lang=&edition=full","pubTime":"2021-07-03 12:08","market":"us","language":"en","title":"The Jobs Report Was Strong. Why Investors Should Be Skeptical.","url":"https://stock-news.laohu8.com/highlight/detail?id=1197906560","media":"Barron's","summary":"On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat ","content":"<p>On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.</p>\n<p>One might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.</p>\n<p>First, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.</p>\n<p>What’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.</p>\n<p>Second, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.</p>\n<p>Third, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.</p>\n<p>“If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.</p>\n<p>Further highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.</p>\n<p>So, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.</p>\n<p>The degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.</p>\n<p>While about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.</p>\n<p>At least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.</p>\n<p>All of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.</p>\n<p>Not so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.</p>\n<p>If that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.</p>\n<p>Therein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.</p>\n<p>Investors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.</p>","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>The Jobs Report Was Strong. Why Investors Should Be Skeptical.</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 Jobs Report Was Strong. Why Investors Should Be Skeptical.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 12:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/jobs-report-investors-should-be-skeptical-51625267210?mod=hp_LEAD_2><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.\n...</p>\n\n<a href=\"https://www.barrons.com/articles/jobs-report-investors-should-be-skeptical-51625267210?mod=hp_LEAD_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/jobs-report-investors-should-be-skeptical-51625267210?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197906560","content_text":"On its face, the June jobs report looksalmost perfect. After months of disappointments, hiring beat Wall Street’s expectations—with wages rising, but at a cooler pace than the lofty levels of spring.\nOne might be tempted to declare the labor shortage over and the inflation debate done. But investors shouldn’t take the bait just yet. While a nonfarm payroll increase of 850,000 is undeniably strong, it belies a labor market still plagued with supply problems.\nFirst, consider that government hiring rose 193,000 last month. That accounts for the entire headline overshoot versus economists’ expectations. Company payrolls increased 662,000, which would be incredible for normal times. Yet it was still far off the one million mark that economists had anticipated by this point in the recovery, as the economy bursts open and vaccinated consumers spend the trillions of dollars in cash stashed during the pandemic.\nWhat’s more, private payrolls came in well short of the one million implied by closely watched data from employee-scheduling company Homebase, says Ian Shepherdson of Pantheon Macroeconomics.\nSecond, labor-force participation was flat in June despite better hiring. That rate, 61.6%, is still down 1.7 percentage points from its prepandemic level. The employment-population ratio, which Federal Reserve officials have said they are watching, was also unchanged in June; at 58%, it remains 3.1 percentage points below its prepandemic level.\nThird, the slowdown in wage growth is deceiving. The 0.3% increase from May looks like a Goldilocks print—enough to drive continued spending without fueling inflation fears that have been building as shortages from labor to chips to food push prices broadly higher.\n“If anything, this understates the true rate of underlying wage inflation,” says Jefferies chief economist Aneta Markowska of the June wage increase. After adjusting for the return of low-wage leisure, hospitality, and retail workers, average hourly earnings rose by 0.5% in June from May, she says. By that measure, they are up 4.5% from a year earlier. Over the past three months, overall wages are up an annualized 6% as companies chase workers, says Gad Levanon of the Conference Board.\nFurther highlighting the fact that hiring is still being held back by supply, not demand: On an annualized basis this year, leisure and hospitality wages are up 12.3%, transportation and warehousing pay is up 8%, and retail wages are up 5.5%.\nSo, what’s an investor to make of the June jobs report? Nothing. Which is to say, the latest data do nothing to resolve the biggest questions facing the labor market.\nThe degrees to which transitory factors—generous unemployment benefits, child-care issues, and Covid-19 concerns—are capping hiring and driving up wages won’t be clear for months. Schools need to reopen to resolve child-care issues holding back working parents, and enhanced unemployment pay needs to expire before it becomes clear the extent to which such benefits are keeping workers home.\nWhile about two dozen states either started cutting or are about to cut the extra $300 a week in unemployment insurance ahead of the federal program’s Sept. 6 expiration, Shepherdson notes that 70% of those unemployed won’t be affected by those early terminations. Because the June report does nothing to move the Fed’s needle, it shouldn’t stop the stock market from forging ahead.\nAt least for now. “You can’t be unhappy to see an 850,000 payroll print, but it’s nowhere near fast enough,” Shepherdson says, especially given labor demand as evidenced by myriad indicators, help-wanted signs, and company commentary. “The labor-supply problem may fix itself, but it may not,” he says. “The issue really is that we could end up with sustained wage inflation.” Policy makers, however, will punt until they have definitive data—and that won’t be until November.\nAll of this means that data between now and the fall are noise. Many economists and investors are expecting the Fed to announce, at the annual Jackson Hole symposium next month, plans to taper its $120 billion in monthly asset purchases.\nNot so fast, Shepherdson says. “This isn’t as linear as markets would like, and it won’t be clear by Jackson Hole,” he says.\nIf that’s right—that the Fed won’t have the data they want in time to lay out taper plans until later in the fall—an even longer period of ultraloose monetary policy might be in store. That is assuming there’s time for officials to telegraph plans well ahead of actually starting to withdraw support.\nTherein lies the risk of tuning out the noise, or the employment data, between now and the fall. If the resumption of school and the end to enhanced unemployment benefits don’t bring workers back, it will become clear that structural issues are at play and wage inflation is thus more persistent. As Shepherdson puts it, there is a strong likelihood that the Fed has to raise interest rates in 2022 because there is a good chance people won’t come back into the labor force.\nInvestors should continue to enjoythe stock market gains. But they should also be careful. Waiting for definitive data to show whether the labor shortage is more than transitory means policy makers might have to act sooner and faster than it would seem—especially if deceivingly balanced reports like June’s dot the next few months.","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156375599,"gmtCreate":1625199437311,"gmtModify":1703738212466,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156375599","repostId":"1175817125","repostType":4,"repost":{"id":"1175817125","pubTimestamp":1625180880,"share":"https://www.laohu8.com/m/news/1175817125?lang=&edition=full","pubTime":"2021-07-02 07:08","market":"us","language":"en","title":"S&P 500 winning streak extends to sixth straight record close","url":"https://stock-news.laohu8.com/highlight/detail?id=1175817125","media":"Reuters","summary":"NEW YORK  - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.Investors now eye Friday’s much-anticipated employment report.The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.“Historical data shows if you have a strong first half, the second half of the year was ac","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.</p>\n<p>Investors now eye Friday’s much-anticipated employment report.</p>\n<p>The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.</p>\n<p>“Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.</p>\n<p>All three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.</p>\n<p>The Philadelphia SE Semiconductor index slid 1.5%</p>\n<p>“For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”</p>\n<p>“It feels like investors left for the Fourth of July weekend about three months ago.”</p>\n<p>The ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.</p>\n<p>Jobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray &amp; Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.</p>\n<p>Activity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.</p>\n<p>“The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.</p>\n<p>Friday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.</p>\n<p>“Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”</p>\n<p>The Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&amp;P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.</p>\n<p>Of the 11 major sectors in the S&amp;P 500, consumer staples was the sole loser, shedding 0.3%.</p>\n<p>Walgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.</p>\n<p>Didi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.</p>\n<p>Micron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.</p>\n<p>Volume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","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>S&P 500 winning streak extends to sixth straight record close</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\">\nS&P 500 winning streak extends to sixth straight record close\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332\">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.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175817125","content_text":"NEW YORK (Reuters) - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.\nInvestors now eye Friday’s much-anticipated employment report.\nThe bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.\n“Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.\nAll three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.\nThe Philadelphia SE Semiconductor index slid 1.5%\n“For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”\n“It feels like investors left for the Fourth of July weekend about three months ago.”\nThe ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.\nJobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray & Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.\nActivity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.\n“The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.\nFriday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.\n“Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”\nThe Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.\nOf the 11 major sectors in the S&P 500, consumer staples was the sole loser, shedding 0.3%.\nWalgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.\nDidi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.\nMicron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.\nVolume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147333601,"gmtCreate":1626333330603,"gmtModify":1703758078446,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/147333601","repostId":"2151544523","repostType":4,"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155650270,"gmtCreate":1625415608490,"gmtModify":1703741484223,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/155650270","repostId":"1170195217","repostType":4,"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152635757,"gmtCreate":1625286693179,"gmtModify":1703740017143,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/152635757","repostId":"1114445293","repostType":4,"repost":{"id":"1114445293","pubTimestamp":1625277820,"share":"https://www.laohu8.com/m/news/1114445293?lang=&edition=full","pubTime":"2021-07-03 10:03","market":"us","language":"en","title":"Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked","url":"https://stock-news.laohu8.com/highlight/detail?id=1114445293","media":"Barron's","summary":"Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguish","content":"<p>Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.</p>\n<p>All of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.</p>\n<p>Customer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.</p>\n<p>While Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.</p>\n<p>There are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?</p>\n<p>Bulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.</p>\n<p>And, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions of<i>The Big Short</i>, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.</p>\n<p>“I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”</p>\n<p>The Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,<i>Barron’s</i>Andrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.</p>\n<p>And who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,<i>Barron’s</i>published itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.</p>\n<p>While Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&amp;P 500—shy of Thursday’s close of 4319.</p>\n<p>And while it’s always dangerous to say this, it<i>is</i>different this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.</p>\n<p>Now, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.</p>\n<p>The yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.</p>\n<p>But there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic book<i>Irrational Exuberance</i>.</p>\n<p>“In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”</p>\n<p>Readers can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has been<i>Barron’s</i>credo in the century since its founding.</p>","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>Robinhood’s IPO Could Be a Sign the Stock Market Has Peaked</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\">\nRobinhood’s IPO Could Be a Sign the Stock Market Has Peaked\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 10:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/analyst-explains-why-netflix-should-sell-ads-51624987059><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s ...</p>\n\n<a href=\"https://www.barrons.com/articles/analyst-explains-why-netflix-should-sell-ads-51624987059\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/analyst-explains-why-netflix-should-sell-ads-51624987059","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114445293","content_text":"Nothing succeeds like excess, as the old quip goes. Until it doesn’t, which has been the distinguishing aspect of market cycles forever and, most dramatically, in this century. Unlike last year’s pandemic-induced paroxysm, the 2000 bursting of the dot-com bubble and the 2008 financial crisis were marked by initial public offerings by companies eager to seize the moment—and investors’ money.\nAll of which is prologue to what could shape up as this cycle’s bell-ringing event, theinitial public offering of Robinhood, the online broker that pioneered zero commissions and hooked a new generation on investing and trading. Thepaperwork was filedwith the SEC this past week. Financial details about the upstart that purports to democratize investing (and, in the process, was hit with a record$70 million fine by Finra, the brokerage business’s self-regulatory body) are discussedhere, but a few salient points are buried deep in the S-1 filing.\nCustomer assets more than quadrupled, to $80.9 billion, on March 31 from the total a year earlier, with the lion’s share—some $65.1 billion—accounted for by equities. Options comprised a relatively small $2 billion in assets, but generated nearly half ($197.9 million) of the March quarter’s $420.4 million in transactions revenue. Stocks produced $133.3 million in revenue, even though assets in equities were 40 times as large as those in options. Revenue from cryptocurrencies totaled $87.6 million, with customers’ crypto assets totaling $11.6 billion.\nWhile Robinhood makes much of opening the market to neophyte investors with limited means by letting them buy fractional shares of their favorite stocks, that’s not its biggest business. Instead, it’s speculative options trading, which exploded early this year especially among the YOLO (You Only Live Once) crowd willing to stake a few bucks on cheap, about-to-expire calls of stocks talked up on Reddit.\nThere are signs that the frenzied trading, which peaked during the winter, has eased with the reopening of the economy and the return to the prepandemic normal (and with it an uptick in Covid cases after a steady decline). Trading crypto might be simpler on a brokerage platform like Robinhood, but wasn’t the advantage of DeFi (decentralized finance) supposed to be that intermediaries wouldn’t be needed at all?\nBulls on Robinhood would be betting on continued growth of its independent trading model, rather than investors using passive funds through advisors, which the filing derides. The broker pledged to reserve up to 35% of its IPO for its customers, who are apt to be enthusiastic buyers and, more importantly, hold onto them with “diamond hands” through volatile times.\nAnd, indeed, turbulence, or worse, could lie ahead,Michael Burry told our colleague Connor Smith. Burry, a key player in both the book and film versions ofThe Big Short, won a fortune by betting against the housing market before the subprime mortgage collapse. More recently, he was an early bull onGamestop(ticker: GME), but took his profits in 2020’s fourth quarter before the frenzy around the original meme stock took off. Now he’s warning that the craze will end in tears.\n“I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” he told Connor in an email. “We’re running out of new money available to jump on the bandwagon.”\nThe Robinhood offering wouldn’t be the first stock sale that could be a top-of-the-market event. Back in mid-2007,Barron’sAndrew Bary calledthe IPO ofBlackstone Group(BX) precisely that, just weeks before concerns about excesses of subprime lending rumbled through the global money markets and months before theDow Jones Industrial Averagepeaked the following October.\nAnd who could forget the parade of wacky IPOs in the late 1990s that presaged the potential of the internet, but lacked earnings or revenue or even a viable business plan? By March 2000,Barron’spublished itsseminal cover storyrevealing that these dot-com darlings were rapidly burning cash. That very month marked theNasdaq Composite’speak; the index would fall nearly 80% by October 2002.\nWhile Burry warns of a crash in meme stocks from their vastly elevated levels, which some of the companies have exploited by issuing richly valued shares, the overall market—now trading at about 21.5 times estimated earnings for the next 12 months—hasn’t approached the bubble levels of past cycles. But surveys of market strategists and institutional investors see little upside, with year-end targets averaging around 4200 on theS&P 500—shy of Thursday’s close of 4319.\nAnd while it’s always dangerous to say this, itisdifferent this time around from 2000 and 2008. Ahead of crashes in those years, the Federal Reserve had been tightening policy for some time, resulting in a flat-to-negatively sloped yield curve. Shorter-term Treasury yields were pushed above longer-term ones, leading the bond market to predict that the economy was headed for the rocks.\nNow, in contrast, the Fed has only begun talking about talking about reducing its massive purchases of Treasury and agency mortgage-backed securities. That would be preparation for the initial liftoff of the Fed’s key federal-funds target rate, currently in a rock-bottom 0% to 0.25% range, in 2022 at the earliest and maybe not until 2023.\nThe yield curve has flattened a bit in the past three months, with thespread between the two- and 10-year notenarrowing to 1.23 percentage points (still a sign of an accommodative policy), from 1.59 points on March 29, according to the St. Louis Fed.\nBut there is also a psychological element at play in any market frenzy. “Most investors also seem to view the stock market as a force of nature itself. They do not fully realize that they themselves, as a group, determine the level of the market,” Nobel laureate Robert Shiller wrote in his now-classic bookIrrational Exuberance.\n“In short, the price level is driven to a certain extent by a self-fulfilling prophecy, based on similar hunches held by a vast cross-section of large and small investors and reinforced by news media that are often content to ratify this investor-induced conventional wisdom.”\nReaders can weigh the relevance of the point about traders’ hunches to the Robinhood IPO. As for the latter statement regarding the media, we demur; contrary opinion rather than conventional wisdom has beenBarron’scredo in the century since its founding.","news_type":1},"isVote":1,"tweetType":1,"viewCount":4,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144074250,"gmtCreate":1626257595670,"gmtModify":1703756479159,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144074250","repostId":"2151267518","repostType":4,"repost":{"id":"2151267518","pubTimestamp":1626256560,"share":"https://www.laohu8.com/m/news/2151267518?lang=&edition=full","pubTime":"2021-07-14 17:56","market":"us","language":"zh","title":"美国6月CPI数据点评：市场与联储、通胀的背离","url":"https://stock-news.laohu8.com/highlight/detail?id=2151267518","media":"格隆汇","summary":"事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：\n\n交运和住房继续成为6月美国CPI超预期的主要贡献。6月CPI继","content":"<h3><b>事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：</b></h3>\n<h3></h3>\n<p><b>交运和住房继续成为6月美国CPI超预期的主要贡献。</b>6月CPI继续超预期，且不仅是同比，环比也超过预期和季节性。分项看，交运和住房继续成为主要拉动。如我们在此前提示，住房和交运涨价有大宗（油价）上涨的因素，也有供需的影响：交运分项中，汽车（尤其二手车）价格继续上行，体现缺芯片的影响仍在延续；住房分项中，疫情好转使得酒店价格回暖，租金分项的拉动也开始快速上升——这和失业率逐步回归、劳动力回流大城市工作密切相关。</p>\n<p><img src=\"https://static.tigerbbs.com/eac5a4af20f84bb663ce8767806230a6\" tg-width=\"1080\" tg-height=\"443\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/945f193b97b80d75cda83347e13f2ad0\" tg-width=\"994\" tg-height=\"508\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/0ffc8ff7d4a8af59aa3b70dd75afd86b\" tg-width=\"1080\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p><b>美国经济重心转向服务业，劳动力供需矛盾突出，通胀恐持续维持高位。</b>&nbsp;我们此前提示，随着美国消费复苏的重心从商品切至服务，劳动力供需错配的问题也将突出，“工资通胀”压力短期难以缓解。此外，供不应求的状况也体现在供应链环节——物流环节压力快速上升，这也进一步加剧了供给和需求的错配，从而推升了涨价压力。</p>\n<p><b>近期市场对联储紧、高通胀“充耳不闻”，或主要受经济预期降温主导。</b>从市场反应来看，CPI发布后30分钟内美债、黄金跌，美元涨，通胀预期瞬时升温，但不久后就平复波动。实际上，5月下旬以来，美国市场似乎对高通胀和联储转鹰反应都较平淡，10年期美债利率持续下行、美债利率曲线平坦化、美股整体上行。<b>我们自2月以来持续提示美国三季度通胀居高难下的风险，而自4月通胀超预期后，市场一致预期快速向我们此前预测收敛，6月会议联储也将2021年核心通胀预期上修到3%，这使得此前冲高的市场通胀预期自5月反倒走弱，大家似乎开始接受“阶段性”通胀，拉动美债名义利率下行。</b>另一方面，美国长债实际利率的下行及美股周期和成长的再平衡，可能显示市场已开始反映财政退坡后经济动能的衰退，这与2010年的走势实际上是非常相似的。</p>\n<p><img src=\"https://static.tigerbbs.com/2b03763568557b7a12c4b8faaaf5c3bc\" tg-width=\"1080\" tg-height=\"439\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/eba91a52643c25fa897543876a4799e6\" tg-width=\"1080\" tg-height=\"445\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/17d945d5042c88800af14e44b4557bd5\" tg-width=\"1080\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p>\n<p><b>市场越淡定，越需要关注联储释放超预期信号的可能性及其潜在冲击。</b>我们对联储路径的判断是，虽然最终将是“覆水难收”，但是可能阶段性仍需“做做样子”，给出转紧的预期引导。就现在而言，当前市场对联储“难紧”预期量打得越慢，联储边际调整超出市场预期的可能性也越高。需要持续关注7-9月联储操作及其对市场带来的潜在冲击。</p>\n<p><b>风险提示：联储货币政策变化超预期，海外市场波动超预期，疫情恶化超预期。</b></p>","source":"gelonghui_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美国6月CPI数据点评：市场与联储、通胀的背离</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美国6月CPI数据点评：市场与联储、通胀的背离\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 17:56 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.gelonghui.com/p/475462><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：\n\n交运和住房继续成为6月美国CPI超预期的主要贡献。6月CPI继续超预期，且不仅是同比，环比也超过预期和季节性。分项看，交运和住房继续成为主要拉动。如我们在此前提示，住房和交运涨价有大宗（油价）上涨的因素，也有供需的影响：交运分项中，汽车（尤其二手车）价格继续上行...</p>\n\n<a href=\"http://www.gelonghui.com/p/475462\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b88e2fdae8e5bd88881023c7c82026ea","relate_stocks":{"IEF":"债券指数ETF-iShares Barclays 7-10年","TLT":"20+年以上美国国债ETF-iShares","GOVT":"iShares安硕核心美国国债ETF","IEI":"iShares Barclays 3-7 Year Trea","SHY":"债券指数ETF-iShares Barclays 1-3年国债"},"source_url":"http://www.gelonghui.com/p/475462","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2151267518","content_text":"事件：美国2021年6月CPI同比上升5.4%，超过预期的4.9%；核心CPI同比上升4.5%，超过预期的4.0%。我们对此看法如下：\n\n交运和住房继续成为6月美国CPI超预期的主要贡献。6月CPI继续超预期，且不仅是同比，环比也超过预期和季节性。分项看，交运和住房继续成为主要拉动。如我们在此前提示，住房和交运涨价有大宗（油价）上涨的因素，也有供需的影响：交运分项中，汽车（尤其二手车）价格继续上行，体现缺芯片的影响仍在延续；住房分项中，疫情好转使得酒店价格回暖，租金分项的拉动也开始快速上升——这和失业率逐步回归、劳动力回流大城市工作密切相关。\n\n\n\n美国经济重心转向服务业，劳动力供需矛盾突出，通胀恐持续维持高位。 我们此前提示，随着美国消费复苏的重心从商品切至服务，劳动力供需错配的问题也将突出，“工资通胀”压力短期难以缓解。此外，供不应求的状况也体现在供应链环节——物流环节压力快速上升，这也进一步加剧了供给和需求的错配，从而推升了涨价压力。\n近期市场对联储紧、高通胀“充耳不闻”，或主要受经济预期降温主导。从市场反应来看，CPI发布后30分钟内美债、黄金跌，美元涨，通胀预期瞬时升温，但不久后就平复波动。实际上，5月下旬以来，美国市场似乎对高通胀和联储转鹰反应都较平淡，10年期美债利率持续下行、美债利率曲线平坦化、美股整体上行。我们自2月以来持续提示美国三季度通胀居高难下的风险，而自4月通胀超预期后，市场一致预期快速向我们此前预测收敛，6月会议联储也将2021年核心通胀预期上修到3%，这使得此前冲高的市场通胀预期自5月反倒走弱，大家似乎开始接受“阶段性”通胀，拉动美债名义利率下行。另一方面，美国长债实际利率的下行及美股周期和成长的再平衡，可能显示市场已开始反映财政退坡后经济动能的衰退，这与2010年的走势实际上是非常相似的。\n\n\n\n市场越淡定，越需要关注联储释放超预期信号的可能性及其潜在冲击。我们对联储路径的判断是，虽然最终将是“覆水难收”，但是可能阶段性仍需“做做样子”，给出转紧的预期引导。就现在而言，当前市场对联储“难紧”预期量打得越慢，联储边际调整超出市场预期的可能性也越高。需要持续关注7-9月联储操作及其对市场带来的潜在冲击。\n风险提示：联储货币政策变化超预期，海外市场波动超预期，疫情恶化超预期。","news_type":1},"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155650137,"gmtCreate":1625415537929,"gmtModify":1703741483738,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/155650137","repostId":"1129944702","repostType":4,"repost":{"id":"1129944702","pubTimestamp":1625364641,"share":"https://www.laohu8.com/m/news/1129944702?lang=&edition=full","pubTime":"2021-07-04 10:10","market":"us","language":"en","title":"Is the stock market closed for the July Fourth holiday? Here’s what you need to know","url":"https://stock-news.laohu8.com/highlight/detail?id=1129944702","media":"MarketWatch","summary":"Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day week","content":"<blockquote>\n <b>Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day weekend.</b>\n</blockquote>\n<p>Independence Day falls on Sunday this year, so U.S. financial markets will be closed on Monday.</p>\n<p>TheNew York Stock Exchangeand theNasdaqshut at the end of regular trade Friday.</p>\n<p>Trading in oil futuresCL.1,-0.05%and other energy products on the New York Mercantile Exchange will resume at its regular time of 6 p.m. Eastern Monday.</p>\n<p>The holiday may feel especially festive this year: after being cooped up for the past year, nearly 44 million Americans are expected to take to the road, even as gas prices hit their highest since 2014 and rental cars remain scarce.</p>\n<p>But there’s still reason to be cautious: public-health officials are nervously watching the new delta variant of COVID-19, whichhas now been found in all 50 states and Washington, D.C.Gatherings of fans for the Euro 2020 football tournament are likely to blame for the resurgence of cases there,the World Health Organization saidThursday.</p>\n<p>Risky July Fourth practices long predate COVID-19, however.The Library of Congressnotes that there were 1,531 deaths between 1903 and 1910 from “fireworks and other incidents during July 4th celebrations.” In 1909, more than 5,000 Americans were injured, leading President Taft to appeal for a “Sane Fourth.”</p>\n<p>There may be some reason to approach financial markets with some caution, as well. All threebenchmark indexes swept to fresh highs Friday, marking the seventh in a row for the S&amp;P 500 indexSPX,+0.75%.</p>\n<p>The S&amp;P, along with the Dow Jones Industrial AverageDJIA,+0.44%and Nasdaq Composite indexCOMP,+0.81%booked their best first half of the year since 2019, according to Dow Jones Market data.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the stock market closed for the July Fourth holiday? Here’s what you need to know</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\">\nIs the stock market closed for the July Fourth holiday? Here’s what you need to know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 10:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/heres-what-you-need-to-know-about-markets-and-the-july-fourth-u-s-holiday-11625240660?mod=hp_LATEST&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364288&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364294><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day weekend.\n\nIndependence Day falls on Sunday this year, so U.S. financial markets will be closed on Monday...</p>\n\n<a href=\"https://www.marketwatch.com/story/heres-what-you-need-to-know-about-markets-and-the-july-fourth-u-s-holiday-11625240660?mod=hp_LATEST&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364288&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364294\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/heres-what-you-need-to-know-about-markets-and-the-july-fourth-u-s-holiday-11625240660?mod=hp_LATEST&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364288&adobe_mc=MCMID%3D81959659291108299300573327490633825258%7CMCORGID%3DCB68E4BA55144CAA0A4C98A5%2540AdobeOrg%7CTS%3D1625364294","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129944702","content_text":"Independence Day will be observed Monday, but many Americans are taking to the road for a 3-day weekend.\n\nIndependence Day falls on Sunday this year, so U.S. financial markets will be closed on Monday.\nTheNew York Stock Exchangeand theNasdaqshut at the end of regular trade Friday.\nTrading in oil futuresCL.1,-0.05%and other energy products on the New York Mercantile Exchange will resume at its regular time of 6 p.m. Eastern Monday.\nThe holiday may feel especially festive this year: after being cooped up for the past year, nearly 44 million Americans are expected to take to the road, even as gas prices hit their highest since 2014 and rental cars remain scarce.\nBut there’s still reason to be cautious: public-health officials are nervously watching the new delta variant of COVID-19, whichhas now been found in all 50 states and Washington, D.C.Gatherings of fans for the Euro 2020 football tournament are likely to blame for the resurgence of cases there,the World Health Organization saidThursday.\nRisky July Fourth practices long predate COVID-19, however.The Library of Congressnotes that there were 1,531 deaths between 1903 and 1910 from “fireworks and other incidents during July 4th celebrations.” In 1909, more than 5,000 Americans were injured, leading President Taft to appeal for a “Sane Fourth.”\nThere may be some reason to approach financial markets with some caution, as well. All threebenchmark indexes swept to fresh highs Friday, marking the seventh in a row for the S&P 500 indexSPX,+0.75%.\nThe S&P, along with the Dow Jones Industrial AverageDJIA,+0.44%and Nasdaq Composite indexCOMP,+0.81%booked their best first half of the year since 2019, according to Dow Jones Market data.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152631202,"gmtCreate":1625286565106,"gmtModify":1703740010794,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go go go","listText":"Go go go","text":"Go go go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/152631202","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","pubTimestamp":1625276221,"share":"https://www.laohu8.com/m/news/1188153141?lang=&edition=full","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p>\n<p>That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p>\n<p>And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p>\n<p>Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p>\n<p><b>What does Suze Orman think?</b></p>\n<p><img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p>\n<p>Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p>\n<p>“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p>\n<p>While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p>\n<p>And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p>\n<p>What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p>\n<p>“This reminds me of 2000 all over again,” Orman says.</p>\n<p><b>The Buffett Indicator</b></p>\n<p><img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p>\n<p>One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p>\n<p>But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p>\n<p>And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p>\n<p>How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p>\n<p>Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p>\n<p><b>1. Buy low</b></p>\n<p>Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p>\n<p>“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p>\n<p>She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p>\n<p>Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p>\n<p><b>2. Invest on a schedule</b></p>\n<p><img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p>\n<p>While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p>\n<p>She wants casual investors to not get caught up in the daily ups and downs of the market.</p>\n<p>In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p>\n<p>“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p>\n<p>She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p>\n<p>This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p>\n<p>There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p>\n<p><b>3. Diversify with fractional shares</b></p>\n<p>To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p>\n<p>Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p>\n<p>With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p>\n<p>“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p>\n<p>“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p>\n<p><b>What else you can do</b></p>\n<p><img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p>\n<p>Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p>\n<p>First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p>\n<p>Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p>\n<p>That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p>\n<p>If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p>\n<p>While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuze Orman worries about a market crash — here's what you should do\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html><strong>MoneyWise</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to ...</p>\n\n<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153792861,"gmtCreate":1625048399653,"gmtModify":1703734826170,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/153792861","repostId":"1120731200","repostType":4,"repost":{"id":"1120731200","pubTimestamp":1625047078,"share":"https://www.laohu8.com/m/news/1120731200?lang=&edition=full","pubTime":"2021-06-30 17:57","market":"us","language":"en","title":"Stocks Close at New Highs—Again. What’s Next.","url":"https://stock-news.laohu8.com/highlight/detail?id=1120731200","media":"Barrons","summary":"Stocks rose to new all-time highs on Tuesday as economic data beat estimates.\nThe Dow Jones Industri","content":"<p>Stocks rose to new all-time highs on Tuesday as economic data beat estimates.</p>\n<p>The&nbsp;Dow Jones Industrial Average rose 9 points, or 0.03%. The&nbsp;S&amp;P 500 rose 0.03% and closed at a record 4,291.90. The&nbsp;Nasdaq Composite&nbsp;rose 0.2%, also closing at a new high of 14,528.33.</p>\n<p>“While plenty of good news is now priced into markets, and we advise investors to brace for bouts of volatility ahead, we don’t see record highs as a barrier to further gains,” writes Mark Haefele, UBS’ chief investment officer of global wealth management.</p>\n<p>The Case-Shiller U.S. home-price index for April rose 14.6% year over year,&nbsp;the fastest annual rate in more than 30 years. The index is a key point of interest as investors look for clues about what might prompt the&nbsp;Federal Reserve to potentially raise interest rates.</p>\n<p>Fed members are discussing reducing the size of the mortgage bond buying program, which currently sits at $40 billion a month. Those purchases keep mortgage bond prices high and their yields low, stimulating housing demand.</p>\n<p>The consumer confidence index rose to 127.3 for June, higher than the anticipated 118.7 and last month’s 120. As states reopen and the employment picture brightens, consumers are increasingly confident, often a signal that spending will be strong ahead. The&nbsp;Invesco S&amp;P 500 Equal Weight Consumer Discretionary Exchange-Traded Fund(RCD) gained 0.38%, outperforming the major benchmarks.</p>\n<p>Looking ahead, “Markets may find little direction ahead of Friday’s jobs report,” writes Citigroup economist Andrew Hollenhorst. Investors are hoping that recent&nbsp;supply shortages&nbsp;aren’t derailing the employment and economic recovery, but that a potentially strong jobs result won’t suggest high enough inflation to make the Fed more willing to lift rates.</p>\n<p>In Asia, Tokyo’sNikkei 225&nbsp;fell 0.8%, while Hong Kong’sHang Seng&nbsp;declined 0.9%. TheShanghai Compositedipped 0.9%. TheFTSE 100in London lifted 0.2% as the pan-EuropeanStoxx 600was 0.3% higher. The&nbsp;CAC 40&nbsp;in Paris climbed 0.1% and Frankfurt’s&nbsp;DAX&nbsp;rose 0.9%.</p>\n<p>In Europe, the reflation trade surged back, with shares in mining, industrial, and financial companies adding buoyancy to major indexes. Meanwhile, the European Commission’s economic sentiment indicator reflected a notable acceleration in economic activity at the end of the second quarter of 2021, rising in June to the highest level in 21 years.</p>\n<p>Mortgage lender Nationwide said that British house prices rose 13.4% in June compared with the same period last year—the largest annual rise since 2004. U.K. housebuilder stocks rallied on the news, with shares inPersimmon,Taylor Wimpey,andBarratt Development&nbsp;sat the top of the list of the FTSE 100’s risers.</p>\n<p>Shares in French electric company&nbsp;Rexel&nbsp;rose 4.3% in Paris trading after the group raised its sales forecast for 2021. Rexel now expects same-day sales growth of between 12% and 15%, up from a prior forecast of between 5% and 7%.</p>\n<p>Morgan Stanley&nbsp;(ticker: MS) stock gained 3.35% after the bank doubled its dividend payment to 70 cents a share.</p>\n<p>Textron&nbsp;(TXT) stock gained 0.54% after getting upgraded to Overweight from Equal Weight at Morgan Stanley.</p>\n<p>Keurig Dr Pepper&nbsp;&nbsp;(KDP) stock gained 1.03%.&nbsp;Wells Fargo&nbsp;upgraded the stock to Overweight from Equal Weight.</p>\n<p>Fortinet&nbsp;(FTNT) stock dropped 1.55% after being downgraded to Neutral from Buy at&nbsp;Monness Crespi &amp; Hardt.</p>\n<p>Carvana(CVNA) stock dropped 1.23%. Piper Sandler downgraded the company to Neutral from Overweight.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks Close at New Highs—Again. What’s Next.</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\">\nStocks Close at New Highs—Again. What’s Next.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 17:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stock-market-today-51624961738?mod=hp_LEAD_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stocks rose to new all-time highs on Tuesday as economic data beat estimates.\nThe Dow Jones Industrial Average rose 9 points, or 0.03%. The S&P 500 rose 0.03% and closed at a record 4,291.90. The ...</p>\n\n<a href=\"https://www.barrons.com/articles/stock-market-today-51624961738?mod=hp_LEAD_3\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/stock-market-today-51624961738?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120731200","content_text":"Stocks rose to new all-time highs on Tuesday as economic data beat estimates.\nThe Dow Jones Industrial Average rose 9 points, or 0.03%. The S&P 500 rose 0.03% and closed at a record 4,291.90. The Nasdaq Composite rose 0.2%, also closing at a new high of 14,528.33.\n“While plenty of good news is now priced into markets, and we advise investors to brace for bouts of volatility ahead, we don’t see record highs as a barrier to further gains,” writes Mark Haefele, UBS’ chief investment officer of global wealth management.\nThe Case-Shiller U.S. home-price index for April rose 14.6% year over year, the fastest annual rate in more than 30 years. The index is a key point of interest as investors look for clues about what might prompt the Federal Reserve to potentially raise interest rates.\nFed members are discussing reducing the size of the mortgage bond buying program, which currently sits at $40 billion a month. Those purchases keep mortgage bond prices high and their yields low, stimulating housing demand.\nThe consumer confidence index rose to 127.3 for June, higher than the anticipated 118.7 and last month’s 120. As states reopen and the employment picture brightens, consumers are increasingly confident, often a signal that spending will be strong ahead. The Invesco S&P 500 Equal Weight Consumer Discretionary Exchange-Traded Fund(RCD) gained 0.38%, outperforming the major benchmarks.\nLooking ahead, “Markets may find little direction ahead of Friday’s jobs report,” writes Citigroup economist Andrew Hollenhorst. Investors are hoping that recent supply shortages aren’t derailing the employment and economic recovery, but that a potentially strong jobs result won’t suggest high enough inflation to make the Fed more willing to lift rates.\nIn Asia, Tokyo’sNikkei 225 fell 0.8%, while Hong Kong’sHang Seng declined 0.9%. TheShanghai Compositedipped 0.9%. TheFTSE 100in London lifted 0.2% as the pan-EuropeanStoxx 600was 0.3% higher. The CAC 40 in Paris climbed 0.1% and Frankfurt’s DAX rose 0.9%.\nIn Europe, the reflation trade surged back, with shares in mining, industrial, and financial companies adding buoyancy to major indexes. Meanwhile, the European Commission’s economic sentiment indicator reflected a notable acceleration in economic activity at the end of the second quarter of 2021, rising in June to the highest level in 21 years.\nMortgage lender Nationwide said that British house prices rose 13.4% in June compared with the same period last year—the largest annual rise since 2004. U.K. housebuilder stocks rallied on the news, with shares inPersimmon,Taylor Wimpey,andBarratt Development sat the top of the list of the FTSE 100’s risers.\nShares in French electric company Rexel rose 4.3% in Paris trading after the group raised its sales forecast for 2021. Rexel now expects same-day sales growth of between 12% and 15%, up from a prior forecast of between 5% and 7%.\nMorgan Stanley (ticker: MS) stock gained 3.35% after the bank doubled its dividend payment to 70 cents a share.\nTextron (TXT) stock gained 0.54% after getting upgraded to Overweight from Equal Weight at Morgan Stanley.\nKeurig Dr Pepper  (KDP) stock gained 1.03%. Wells Fargo upgraded the stock to Overweight from Equal Weight.\nFortinet (FTNT) stock dropped 1.55% after being downgraded to Neutral from Buy at Monness Crespi & Hardt.\nCarvana(CVNA) stock dropped 1.23%. Piper Sandler downgraded the company to Neutral from Overweight.","news_type":1},"isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125566805,"gmtCreate":1624680821207,"gmtModify":1703843530758,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go go go","listText":"Go go go","text":"Go go go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125566805","repostId":"1164137597","repostType":4,"repost":{"id":"1164137597","pubTimestamp":1624671774,"share":"https://www.laohu8.com/m/news/1164137597?lang=&edition=full","pubTime":"2021-06-26 09:42","market":"us","language":"en","title":"Alibaba: Can BABA Get Back To $300? Yes, It Can","url":"https://stock-news.laohu8.com/highlight/detail?id=1164137597","media":"seekingalpha","summary":"The recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.The Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.Alibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.Alibaba is the dominant force in cloud services in China which could become a significant revenue g","content":"<p><b>Summary</b></p>\n<ul>\n <li>The recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.</li>\n <li>The Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.</li>\n <li>Alibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.</li>\n <li>Alibaba is the dominant force in cloud services in China which could become a significant revenue growth machine as the economy expands.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/814b0a9a0d17977f43665e2eba205b1e\" tg-width=\"1536\" tg-height=\"1024\"><span>Andrew Braun/iStock Editorial via Getty Images</span></p>\n<p>Alibaba(NYSE:BABA)operates a printing press that keeps spitting out tens of billions from total revenue down to net income. Many companies faced adversity throughout the pandemic, and some are still recovering, but not BABA. Through the worst economic environment for businesses to navigate in recent times, BABA generated over $100 billion in revenue and $20 billion in net income during their recent fiscal year. While BABA didn't get the memo about businesses facing challenges amidst the pandemic, the market must not have read BABA's earnings report or crunched the numbers.</p>\n<p>There are two Chinese companies I am bullish on, and BABA is my biggest conviction for appreciation. BABA smashed through the $300 share price level at the end of October 2020, but shareholders have been left confused and disappointed since then. It looked like BABA would turn the corner after a horrible end to 2020 as shares appreciated from $222.36 from the close of 2020 to $270.83 in the middle of February 2021. Still, the markets had other plans, and all shares of BABA have done is disappoint shareholders. If you missed the BABA train, it's time to grab your tickets and climb aboard, and if you purchased BABA during its run to $300 or early 2021 rebound, it might be time to add to your holdings. BABA is going to experience tremendous tailwinds from China's population and economic growth over the next several years, and their printing press is going to need more ink.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86da7b532f25f563d08490ddc43cbede\" tg-width=\"640\" tg-height=\"337\"><span>(Source: Alibaba)</span></p>\n<p><b>The Alibaba printing press is open for business, and it spits out billions</b></p>\n<p>How many companies can say their annual revenue through the pandemic exceeded $100 billion? The $100 billion revenue mark is a prestigious club that companies such as&nbsp;Facebook (FB),PepsiCo (PEP),Procter &amp; Gamble (PG),Target (TGT), and&nbsp;Johnson &amp; Johnson (JNJ)&nbsp;are not part of. BABA, on the other hand, witnessed its revenue increase by 52.11% and smash through $100 billion as they generated $109.47 billion in their recent fiscal year. For the year ending March 2019, BABA's revenue increased by $16.25 billion (40.74%) to $56.15 billion, then for the March 2020 fiscal year, revenue increased another $15.82 billion (28.17%) to $71.97 billion. BABA is in the same boat as Alphabet(NASDAQ:GOOG)(GOOGL), FB, and Amazon (AMZN) as they watched the pandemic push more people to go digital which accelerated their businesses. For BABA, the forced transition to digital helped them achieve $37.5 billion (52.11%) in additional revenue as they finished their March 2021 fiscal year with $109.47 billion in revenue.</p>\n<p>Since 2013 BABA has not had a year where their annual revenue increase didn't exceed 25% Year over Year (YoY). When you think about that as a growth rate, it's remarkable for a company of BABA's size as this isn't a company chasing its first billion-dollar revenue year. Over the past 5 fiscal years, BABA's annual revenue has increased by $93.8 billion (408.08%) at an average annual rate of 48.25%. Smaller companies considered growth companies would be jealous of these rates, while many large caps are probably envious.</p>\n<p>BABA isn't a one-trick pony that can only generate tens of billions in revenue. BABA can convert right down to the bottom line. Each year BABA has increased its YoY gross profit by a minimum of 10% since 2013. In 2016 BABA generated $10.35 billion in gross profit and, over the next 5 fiscal years, increased its annual gross profit by $34.84 billion (336.68%). BABA has also never fallen below a 40% gross profit margin, Warren Buffett's magic number, as he indicates in<i>Warren Buffett and the Interpretation of Financial Statements. On page 34 of the Kindle edition,it says:</i></p>\n<blockquote>\n As a very general rule (and there are exceptions): Companies with gross profit margins of 40% or better tend to be companies with some sort of durable competitive advantage. Companies with gross profit margins below 40% tend to be companies in highly competitive industries, where competition is hurting overall profit margins (there are exceptions here, too).\n</blockquote>\n<p>The gross profit margin is important for investors to evaluate because it reveals how much of a company's revenue goes directly to producing it and if they have a moat around their business. BABA's numbers indicate they have a sufficient moat around their business that is hard to penetrate. With close to a decade of generating over 40% in gross profit margins, investors can expect that BABA's moat will protect its business operations for years to come.</p>\n<p>Moving to the bottom line BABA does a great job at generating profits. In their most recent fiscal year, BABA generated $22.98 billion in net income, converting more than 1/5th (20.99%) of their revenue to pure profits. Since 2013 BABA has only had 1 year where net income decreases YoY. With that track record, many options open up for BABA in the future as their cash stockpile continues to increase.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41a5e036f023fa4ced7666e06aa1de6b\" tg-width=\"640\" tg-height=\"444\"><span>(Source: Alibaba)</span></p>\n<p><b>Alibaba will continue to experience tailwinds as China's population and economy expands</b></p>\n<p>Alibaba&nbsp;achieved one billion annual active consumers globally in the fiscal year that ended in March 2021. BABA has 891 million consumers across China's retail marketplace, local consumer services and digital media and entertainment platforms, and approximately 240 million consumers outside China. BABA's annual active consumers in the China retail marketplaces were 811 million as it grew by 85 million YoY. BABA will focus on developing a digital commerce infrastructure that offers an upgraded consumer experience by seamlessly integrating online and offline. Through BABA's infrastructure, countless retailers have digitally transformed their businesses and created multiple retail formats that have enabled new consumption experiences by leveraging consumer insights and technology. BABA's ecosystem, supply chain, and diversified fulfillment services have facilitated an immense digital transformation. By investing in its infrastructure, BABA's customers can now leverage a full range of high-frequency fulfillment services that include on-demand delivery, same-or-next day delivery, and next-day pick-up services for a full range of consumable and physical products.</p>\n<p>BABA will continue to be one of the cornerstones that supports growth within China's economy, which is benefiting from the acceleration of digitalization in all aspects of life and work. China is projected to be the world's largest economy by 2028. The per-capita income in China is expected to grow by roughly 50% from 2020 to 2025.China's average economic growth&nbsp;has been projected to increase at a rate of 5.7% from 2021 to 2025, then slow to 4.5% from 2026 to 2030. As a result,China&nbsp;is on track to join the top 1/3rd of nations and overtake 56 countries in the per capita income rankings by 2025. By the end of 2022, McKinsey&nbsp;predicts&nbsp;that the middle class could expand to 550 million people which is larger than the entire U.S population.</p>\n<p>If the projections for China are correct, this should mean a windfall of cash lining BABA's coffers. It's a simple recipe; when people make more money, they tend to spend more money to enhance their lives and increase their standard of living. As BABA is a dominant force in China's retail sector, they stand to benefit from a growing economy and a larger middle class. At the end of next year, if China has anywhere close to 550 million individuals in the middle class, I believe BABA's revenue and profits will increase significantly. This trend can provide tailwinds throughout the decade for BABA, and eventually, the market will reward shareholders based on BABA's value proposition.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bbde4a092d19118a2d16daabf5c027d7\" tg-width=\"640\" tg-height=\"463\"><span>(Source: Blomberg)</span></p>\n<p><b>Alibaba has tremendous growth prospects in Cloud as China continues its digitization</b></p>\n<p>Cloud computing has been red hot in the U.S. as the transition from on-prem to cloud has increased the technological capabilities for many organizations. As digitization progresses across the business landscape, cloud providers continue to increase revenue generated from their cloud segments within their overall revenue mix. For example, AWS, the cloud computing division from&nbsp;AMZN, generated $45.37 billion in 2020. Cloud continues to be an exciting sector because the digital transformation is far from being over. Hence, the prospects of new customers are enormous while reoccurring revenue is generated after the transition occurs.</p>\n<p>In China, cloud infrastructure services are still in the early innings as the entire spend was around $15 billion in 2020. In Q1 of 2021, cloud infrastructure services in&nbsp;China&nbsp;grew by 55% YoY as it reached $6 billion. China was the 2nd largest market behind the U.S, accounting for 14% of global investment, up from 12% in Q1 of 2020. With cloud spending and digitization in China increasing, this serves as a major runway for growth in Alibaba Cloud.</p>\n<p>As China's economy expands, businesses will need to become more efficient to support both operations and customer demands. Chinese companies will need to implement infrastructure that can support a digital age of the workforce while supporting cloud services used by consumers for consumption. If China passes the U.S. as the world's largest economy in the second half of this decade, the amount of growth needed in cloud services will be immense. BABA is already the leader in cloud infrastructure services in China as their 39.8% market share accounted for $2.39 billion of the $6 billion spent in Q1 2021. Over the previous 6 quarters, cloud infrastructure spending has increased by roughly $2.3 billion (76.67%) in China. Based on cloud's current trajectory, quarterly revenue is on track to double over the next 2 years, putting Q1 2023 revenue at $10.6 billion. If BABA has a 35% market share, their Q1 2023 would be $3.71 billion, placing their 2023 revenue for cloud at $14.84 billion without factoring in any growth in 2023. From a cloud aspect, China's future spending is very exciting, and BABA will be one of the major benefactors.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1759b81ce463d503a165d901e2e50d7c\" tg-width=\"640\" tg-height=\"728\"><span>(Source: Canalys)</span></p>\n<p><b>Alibaba has stellar financial metrics and is undervalued compared to the U.S. tech conglomerates</b></p>\n<p>For this comparison, I am going to use AMZN and GOOGL as they have been establishing their dominance in the U.S. for more than a decade. First, here are the raw numbers for AMZN, BABA, and GOOGL:</p>\n<ul>\n <li>AMZN</li>\n <li>BABA</li>\n <li>GOOGL</li>\n</ul>\n<p>The market currently places a multiple of 17.03x on AMZN's equity compared to its market cap, while its revenue multiple is 4.2x. GOOGL has a multiple of 7.17x on its equity and 8.39x on its revenue compared to market cap. AMZN and GOOGL's market caps exceed $1.5 trillion, while BABA's sits at $575.57 billion. The market is placing a 3.5x multiple on BABA's equity and 5.26x on its revenue compared to the market cap. Thus, the market is severely discounting BABA's equity and revenue generation. BABA's equity is worth 28.58% of its market cap, while AMZN's equity is equivalent to 5.87%, and GOOGL's is 13.94% of its market cap. The current discount placed on BABA's equity could create an additional tailwind for shareholders in the future.</p>\n<p><b>Conclusion</b></p>\n<p>It's hard to dismiss the growth opportunities some companies in China are presenting, especially after the recent decline in share prices. However, I believe shares of BABA are currently undervalued based on their current financial metrics and growth rates. China's economy and the amount of capital allocated to cloud service infrastructure are expected to grow substantially over the years. These will create powerful tailwinds for BABA throughout this decade. As a result, I think shareholders have been allowed to establish a BABA or dollar cost average position at a discounted price. I plan on continuing to add shares to my position while the market is discounting BABA.</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>Alibaba: Can BABA Get Back To $300? 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Yes, It Can\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-26 09:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4436373-alibaba-can-get-back-to-300><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.\nThe Chinese economy is expected to become the world's largest economy by...</p>\n\n<a href=\"https://seekingalpha.com/article/4436373-alibaba-can-get-back-to-300\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4436373-alibaba-can-get-back-to-300","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164137597","content_text":"Summary\n\nThe recent downturn in Alibaba's share price has created an investment opportunity for long-term capital appreciation.\nThe Chinese economy is expected to become the world's largest economy by 2028 and more than 500 million people will be part of the middle class by end of 2023.\nAlibaba will experience tailwinds from individuals and businesses spending more money during this period of growth in China.\nAlibaba is the dominant force in cloud services in China which could become a significant revenue growth machine as the economy expands.\n\nAndrew Braun/iStock Editorial via Getty Images\nAlibaba(NYSE:BABA)operates a printing press that keeps spitting out tens of billions from total revenue down to net income. Many companies faced adversity throughout the pandemic, and some are still recovering, but not BABA. Through the worst economic environment for businesses to navigate in recent times, BABA generated over $100 billion in revenue and $20 billion in net income during their recent fiscal year. While BABA didn't get the memo about businesses facing challenges amidst the pandemic, the market must not have read BABA's earnings report or crunched the numbers.\nThere are two Chinese companies I am bullish on, and BABA is my biggest conviction for appreciation. BABA smashed through the $300 share price level at the end of October 2020, but shareholders have been left confused and disappointed since then. It looked like BABA would turn the corner after a horrible end to 2020 as shares appreciated from $222.36 from the close of 2020 to $270.83 in the middle of February 2021. Still, the markets had other plans, and all shares of BABA have done is disappoint shareholders. If you missed the BABA train, it's time to grab your tickets and climb aboard, and if you purchased BABA during its run to $300 or early 2021 rebound, it might be time to add to your holdings. BABA is going to experience tremendous tailwinds from China's population and economic growth over the next several years, and their printing press is going to need more ink.\n(Source: Alibaba)\nThe Alibaba printing press is open for business, and it spits out billions\nHow many companies can say their annual revenue through the pandemic exceeded $100 billion? The $100 billion revenue mark is a prestigious club that companies such as Facebook (FB),PepsiCo (PEP),Procter & Gamble (PG),Target (TGT), and Johnson & Johnson (JNJ) are not part of. BABA, on the other hand, witnessed its revenue increase by 52.11% and smash through $100 billion as they generated $109.47 billion in their recent fiscal year. For the year ending March 2019, BABA's revenue increased by $16.25 billion (40.74%) to $56.15 billion, then for the March 2020 fiscal year, revenue increased another $15.82 billion (28.17%) to $71.97 billion. BABA is in the same boat as Alphabet(NASDAQ:GOOG)(GOOGL), FB, and Amazon (AMZN) as they watched the pandemic push more people to go digital which accelerated their businesses. For BABA, the forced transition to digital helped them achieve $37.5 billion (52.11%) in additional revenue as they finished their March 2021 fiscal year with $109.47 billion in revenue.\nSince 2013 BABA has not had a year where their annual revenue increase didn't exceed 25% Year over Year (YoY). When you think about that as a growth rate, it's remarkable for a company of BABA's size as this isn't a company chasing its first billion-dollar revenue year. Over the past 5 fiscal years, BABA's annual revenue has increased by $93.8 billion (408.08%) at an average annual rate of 48.25%. Smaller companies considered growth companies would be jealous of these rates, while many large caps are probably envious.\nBABA isn't a one-trick pony that can only generate tens of billions in revenue. BABA can convert right down to the bottom line. Each year BABA has increased its YoY gross profit by a minimum of 10% since 2013. In 2016 BABA generated $10.35 billion in gross profit and, over the next 5 fiscal years, increased its annual gross profit by $34.84 billion (336.68%). BABA has also never fallen below a 40% gross profit margin, Warren Buffett's magic number, as he indicates inWarren Buffett and the Interpretation of Financial Statements. On page 34 of the Kindle edition,it says:\n\n As a very general rule (and there are exceptions): Companies with gross profit margins of 40% or better tend to be companies with some sort of durable competitive advantage. Companies with gross profit margins below 40% tend to be companies in highly competitive industries, where competition is hurting overall profit margins (there are exceptions here, too).\n\nThe gross profit margin is important for investors to evaluate because it reveals how much of a company's revenue goes directly to producing it and if they have a moat around their business. BABA's numbers indicate they have a sufficient moat around their business that is hard to penetrate. With close to a decade of generating over 40% in gross profit margins, investors can expect that BABA's moat will protect its business operations for years to come.\nMoving to the bottom line BABA does a great job at generating profits. In their most recent fiscal year, BABA generated $22.98 billion in net income, converting more than 1/5th (20.99%) of their revenue to pure profits. Since 2013 BABA has only had 1 year where net income decreases YoY. With that track record, many options open up for BABA in the future as their cash stockpile continues to increase.\n(Source: Alibaba)\nAlibaba will continue to experience tailwinds as China's population and economy expands\nAlibaba achieved one billion annual active consumers globally in the fiscal year that ended in March 2021. BABA has 891 million consumers across China's retail marketplace, local consumer services and digital media and entertainment platforms, and approximately 240 million consumers outside China. BABA's annual active consumers in the China retail marketplaces were 811 million as it grew by 85 million YoY. BABA will focus on developing a digital commerce infrastructure that offers an upgraded consumer experience by seamlessly integrating online and offline. Through BABA's infrastructure, countless retailers have digitally transformed their businesses and created multiple retail formats that have enabled new consumption experiences by leveraging consumer insights and technology. BABA's ecosystem, supply chain, and diversified fulfillment services have facilitated an immense digital transformation. By investing in its infrastructure, BABA's customers can now leverage a full range of high-frequency fulfillment services that include on-demand delivery, same-or-next day delivery, and next-day pick-up services for a full range of consumable and physical products.\nBABA will continue to be one of the cornerstones that supports growth within China's economy, which is benefiting from the acceleration of digitalization in all aspects of life and work. China is projected to be the world's largest economy by 2028. The per-capita income in China is expected to grow by roughly 50% from 2020 to 2025.China's average economic growth has been projected to increase at a rate of 5.7% from 2021 to 2025, then slow to 4.5% from 2026 to 2030. As a result,China is on track to join the top 1/3rd of nations and overtake 56 countries in the per capita income rankings by 2025. By the end of 2022, McKinsey predicts that the middle class could expand to 550 million people which is larger than the entire U.S population.\nIf the projections for China are correct, this should mean a windfall of cash lining BABA's coffers. It's a simple recipe; when people make more money, they tend to spend more money to enhance their lives and increase their standard of living. As BABA is a dominant force in China's retail sector, they stand to benefit from a growing economy and a larger middle class. At the end of next year, if China has anywhere close to 550 million individuals in the middle class, I believe BABA's revenue and profits will increase significantly. This trend can provide tailwinds throughout the decade for BABA, and eventually, the market will reward shareholders based on BABA's value proposition.\n(Source: Blomberg)\nAlibaba has tremendous growth prospects in Cloud as China continues its digitization\nCloud computing has been red hot in the U.S. as the transition from on-prem to cloud has increased the technological capabilities for many organizations. As digitization progresses across the business landscape, cloud providers continue to increase revenue generated from their cloud segments within their overall revenue mix. For example, AWS, the cloud computing division from AMZN, generated $45.37 billion in 2020. Cloud continues to be an exciting sector because the digital transformation is far from being over. Hence, the prospects of new customers are enormous while reoccurring revenue is generated after the transition occurs.\nIn China, cloud infrastructure services are still in the early innings as the entire spend was around $15 billion in 2020. In Q1 of 2021, cloud infrastructure services in China grew by 55% YoY as it reached $6 billion. China was the 2nd largest market behind the U.S, accounting for 14% of global investment, up from 12% in Q1 of 2020. With cloud spending and digitization in China increasing, this serves as a major runway for growth in Alibaba Cloud.\nAs China's economy expands, businesses will need to become more efficient to support both operations and customer demands. Chinese companies will need to implement infrastructure that can support a digital age of the workforce while supporting cloud services used by consumers for consumption. If China passes the U.S. as the world's largest economy in the second half of this decade, the amount of growth needed in cloud services will be immense. BABA is already the leader in cloud infrastructure services in China as their 39.8% market share accounted for $2.39 billion of the $6 billion spent in Q1 2021. Over the previous 6 quarters, cloud infrastructure spending has increased by roughly $2.3 billion (76.67%) in China. Based on cloud's current trajectory, quarterly revenue is on track to double over the next 2 years, putting Q1 2023 revenue at $10.6 billion. If BABA has a 35% market share, their Q1 2023 would be $3.71 billion, placing their 2023 revenue for cloud at $14.84 billion without factoring in any growth in 2023. From a cloud aspect, China's future spending is very exciting, and BABA will be one of the major benefactors.\n(Source: Canalys)\nAlibaba has stellar financial metrics and is undervalued compared to the U.S. tech conglomerates\nFor this comparison, I am going to use AMZN and GOOGL as they have been establishing their dominance in the U.S. for more than a decade. First, here are the raw numbers for AMZN, BABA, and GOOGL:\n\nAMZN\nBABA\nGOOGL\n\nThe market currently places a multiple of 17.03x on AMZN's equity compared to its market cap, while its revenue multiple is 4.2x. GOOGL has a multiple of 7.17x on its equity and 8.39x on its revenue compared to market cap. AMZN and GOOGL's market caps exceed $1.5 trillion, while BABA's sits at $575.57 billion. The market is placing a 3.5x multiple on BABA's equity and 5.26x on its revenue compared to the market cap. Thus, the market is severely discounting BABA's equity and revenue generation. BABA's equity is worth 28.58% of its market cap, while AMZN's equity is equivalent to 5.87%, and GOOGL's is 13.94% of its market cap. The current discount placed on BABA's equity could create an additional tailwind for shareholders in the future.\nConclusion\nIt's hard to dismiss the growth opportunities some companies in China are presenting, especially after the recent decline in share prices. However, I believe shares of BABA are currently undervalued based on their current financial metrics and growth rates. China's economy and the amount of capital allocated to cloud service infrastructure are expected to grow substantially over the years. These will create powerful tailwinds for BABA throughout this decade. As a result, I think shareholders have been allowed to establish a BABA or dollar cost average position at a discounted price. I plan on continuing to add shares to my position while the market is discounting BABA.","news_type":1},"isVote":1,"tweetType":1,"viewCount":10,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830474957,"gmtCreate":1629095136879,"gmtModify":1676529927958,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/830474957","repostId":"2159241129","repostType":2,"repost":{"id":"2159241129","pubTimestamp":1629090995,"share":"https://www.laohu8.com/m/news/2159241129?lang=&edition=full","pubTime":"2021-08-16 13:16","market":"hk","language":"zh","title":"iOS、Android、Windows 11 都爱用的「圆角」，真的是系统设计的唯一答案吗？","url":"https://stock-news.laohu8.com/highlight/detail?id=2159241129","media":"少数派","summary":"从 iOS 的设计中，发现更多答案","content":"<html><body><div><p>我是老人，一名设计师。由于最近的设计方向都逐渐趋同，以及最近发布的 Windows 11 也开始采用圆角设计，让我有了写这篇文章的想法。</p>\n<p>我想告诉你：不要停滞不前，去寻找更多答案。</p>\n<h2 hid=\"ss-hId-2\">「圆角」并不是唯一的答案</h2>\n<p>iOS 一直以来就是圆角的代表作。应用到到界面设计，其处处圆润的视觉体验无疑是令人愉悦的。从 iPhone X 采用圆角屏幕开始，我们可以看见<a href=\"https://laohu8.com/S/AAPL\">苹果</a>对「圆角」有多狂热。</p>\n<p>但「圆角」并不是唯一的答案。事实上，在设计中，从来就没有唯一的答案。</p>\n<h3>直角也能赏心悦目</h3>\n<p>「Windows 8」便是一个典型的例子。从 Windows 7 到 Windows 8 ，<a href=\"https://laohu8.com/S/MSFT\">微软</a>开始大范围使用锋利的直角，抛弃了 Windows 7 绚丽的 Aero 效果，转而使用大色块和丰富的动效。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_8adb65c5baea49f6bb04689a540dc6dd_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">「开始」屏幕</p>\n<p>「开始」屏幕虽然为许多人所不适应，但其独树一帜的直角色块设计，依然为 Windows 创造了独一无二的视觉体验，使微软和 Windows 的形象变得锋利，鲜明，这都要归功于「直角」给人高冷，坚韧的感觉。这是「圆角」所不可及的。</p>\n<p>仔细观察，开始屏幕中的磁贴并非简单的「单一色块」，而是采用了微量的渐变色与描边来丰富层次；同样，扁平的 Windows 8 并非只有「大色块 + 文字」，其中还采用了丰富的动效，使得界面鲜活起来。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_9d613c8d585142e6b7fc3c7dcd71f965_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">「磁贴」 并非单一色块</p>\n<p>但是很遗憾。「Windows 8」这款超前的系统，陨落在了不属于它的时代。从 Windows 10 开始，磁铁与动效设计被刻意淡化；在最新的 Windows 11 中，直角设计被完全放弃。</p>\n<h3>直角能与圆角并存</h3>\n<p>从 iOS 10 到 iOS 11 ，苹果为数字小键盘也加上了圆角设计，此举引发网友不满。大量用户吐槽新设计「更丑」了。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_ce4008e871eb43fca91baa3823737f91_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">我承认右边的看起来确实更丑了</p>\n<p>很显然该改动是为了响应 iPhone X 「处处圆角，处处圆润」的号召，强行把小键盘改成了圆角按钮。其违和感扑面而来。为什么不试试让直角与圆角共存呢？</p>\n<p>同样的例子在 Chrome 桌面版上也有体现。在 Chrome 69 版本中， Google 悄然将原先带有棱角的标签页，改成了完全的圆角，其描边也被一同抛弃。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_52538941e5f843fdb5b90f2c54e3b0cc_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">可能 Chrome 团队的审美确实非常独特</p>\n<p>由于 Chrome 几乎是全球用户量最多的浏览器，此举引发的骂声铺天盖地而来。reddit 上关于最新版 Chrome 69 的讨论无非是「complain about Chrome 69 (对 Chrome 69 的抱怨）」以及「how to disable round corner in Chrome 69 （如何在 Chrome 69 中关闭圆角）」。</p>\n<p>不过后来的事情大家也都知道了。Google 依旧我行我素，不仅没有把棱角改回来，还关闭了「回到旧版标签页」的隐藏选项；大量网友怨声载道，只能忍气吞声继续使用 Chrome。（谁叫 Chrome 市场份额第一名）</p>\n<p>这是两个反面例子，用以告诉你： 我喜欢直角 直角也是优秀的设计。</p>\n<h2 hid=\"ss-hId-3\">「高斯模糊」并不是唯一的答案</h2>\n<p>自 iOS 7 问世以来，苹果开始大规模在界面中采用「高斯模糊」的设计。原先这种模糊算法仅被应用于照片处理等场景。而 iOS 7 几乎可以称得上是将模糊算法应用到用户界面的开山鼻祖。 </p>\n<h3>用法</h3>\n<p>这块内容并不是要讨论高斯模糊的缺点（其实缺点也显而易见，实时模糊吃显存），而是讨论： 还有没有替补高斯模糊的设计方案 。</p>\n<p>仔细观察高斯模糊在 iOS 中的运用：他们都有一个共同点，那就是都被用于模糊无关的背景，从而实现对中心内容的聚焦。 这模拟了摄影中背景虚化的效果，也最接近人眼观察事物的感觉。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_c0b73c69cb554913a008d089d2883006_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">「聚焦」效果</p>\n<p>了解了高斯模糊的用在哪些方面，我们便能发散思维，使用其他效果来替代高斯模糊。下面列出两种各大厂商用的最多的替代方案：</p>\n<h3>平均</h3>\n<p>平均是一种图像算法。顾名思义，就是从一张包含许多色彩的图片（也就是壁纸）中，平均出最能代表原图片的单一颜色。 也就是我们常常说的「提取主题色」。</p>\n<p>那么提取了主题色有什么用呢？我们把本应为高斯模糊的地方覆盖上主题色不就行了！像这样：</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_53d40a47fa574308a55428e8b7b770cd_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">不同的算法提取的主题色不同，这只是一个典型例子</p>\n<p>看到这里，你应该想起来了当时 Android 5.0 带来的 Material Design，其中广泛运用了「平均」。</p>\n<h3>半透明</h3>\n<p>在高斯模糊还没普及到用户界面的时候，半透明几乎是最火的 UI 元素：Apple 在用，华为也在用，各种大小厂商都跟风在用。这几乎是最简单的替换高斯模糊的方案，同时也很美观。</p>\n<h2 hid=\"ss-hId-4\">「统一」并不是唯一的答案</h2>\n<p>我们总是喜欢看到整洁统一的设计，无论是整洁的餐桌，整洁的房间，在 iOS 中亦是如此。但我们是否需要为了统一而统一呢？</p>\n<h3>过度「统一」的侧边栏</h3>\n<p>苹果对于 iPad 的生产力尤为看重。为了使 UI 设计在这一点上得到响应，从 iPadOS 14 开始，苹果开始大范围在内建 App 上采用「侧边栏」的设计，意图即是与 macOS 中的侧边栏统一，带来「更具生产力」的体验。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_72e92efd492a4b15aa5925e0f6b2bb0a_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">一眼看过去似乎还不错 ...</p>\n<p>愿景很美好。但是，这么做，真的对吗？</p>\n<p>让我们以 iPad 的「侧边栏」设计和原先的设计做个对比：原本的导航栏上有四个简洁易懂的图标，作为 App 的主导航，在页面下方居中显示，占用的空间也很小，直观且一目了然；</p>\n<p>而为了与 macOS 的侧边栏强行达到统一，原本的导航栏被移至页面左方，占用大量空间，同时内部填充大量图标，架构混乱，不再简洁。你仍然可以隐藏或显示侧边栏来扩展屏幕，不过这需要执行额外的步骤。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_4a1b26dcc4c94e95a50e41672b725d13_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">当我打开相册，我最想点选左边的按钮，而不是右边的</p>\n<p>这就使得侧边栏像一个袋子，苹果把什么东西都往里面装，没有分类，没有聚焦，唯一的好处便是与 macOS 形成了统一。</p>\n<p>但这并不是苹果完成「统一」大业的最后一步。在最新的 iPadOS 15 预览版中，苹果甚至为 Safari 浏览器加入了「侧边栏」设计，消耗大块的面积，用途仅仅是为了显示「书签」「阅读列表」「历史记录」以及一个意义不明的新功能「标签组」；你需要反复呼出侧边栏来找到相应的功能。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_fe2c1032520f4e808f059bed62c83b16_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">其他 App 就算了，Safari 里加侧边栏实在是多此一举</p>\n<p>作为上亿 iPad / iPhone 用户的默认浏览器，iPadOS 15 / iOS 15 还带来了许多不可思议的问题：</p>\n<ul>\n<li><p>「刷新网页」操作居然需要进入二级菜单（编注：刷新按钮已在 Beta 4 中回归）；</p></li>\n<li><p>十多个常用选项填充在一个「…」二级菜单中；</p></li>\n<li><p>要访问你的书签，「只需」执行三步。</p></li>\n</ul>\n<p>我没准备开始吐槽 Apple 清奇的设计思路，Reddit 上的 #iOS 15 Safari 标签下已经聚集了许多不满的声音。</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_72dff084ba294c229e2f1ab730d56c4b_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">完全赞同</p>\n<h3>在纷繁中建立秩序</h3>\n<p>显示，上方是一个 iOS 在统一上失败的例子，但这并不是说不需要统一。我们来看看一个成功的例子：</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_fef1e42c080f45818f277dcbc06d07f1_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">微软的商店确实该改改了</p>\n<p>如果要说「iOS 的应用商店」相较「Windows 的应用商店」有什么成功之处的话，那么我认为 iOS 的应用商店最大的优势便是对每个 App 采用了「统一」的形状约束 。</p>\n<p>试问如果你去超市购物，是愿意看到各个商品都整整齐齐的，还是乱丢乱放的呢？iOS 的应用商店在这一点上尤为出色。</p>\n<h2 hid=\"ss-hId-5\">寻找更多答案</h2>\n<p>我们已经走出了 iOS 之外寻找答案，这篇文章就到这里结束了。但试着迈向更深处吧，比如「全 3D 建模 UI」；又或是「<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>感知设计」。还有哪些区域是我们从未探索过的呢？</p>\n<p><img src=\"https://img.36krcdn.com/20210816/v2_8cb3b98106ea4acc9bdcf164134c36bd_img_000\"/></p>\n<p classname=\"img-desc\" label=\"图片描述\">图源 Dribbble，基于 Blender 制作</p>\n<p>我们永远不会停止寻找答案。</p>\n<p>本文来自微信公众号“少数派”（ID:sspaime），作者：老人20000，<a href=\"https://laohu8.com/S/KRKR\">36氪</a>经授权发布。</p></div></body></html>","source":"36kr_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta 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}\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\">\niOS、Android、Windows 11 都爱用的「圆角」，真的是系统设计的唯一答案吗？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-16 13:16 北京时间&nbsp;&nbsp;&nbsp;<a href=https://36kr.com/p/1356878027653765><strong>少数派</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>我是老人，一名设计师。由于最近的设计方向都逐渐趋同，以及最近发布的 Windows 11 也开始采用圆角设计，让我有了写这篇文章的想法。\n我想告诉你：不要停滞不前，去寻找更多答案。\n「圆角」并不是唯一的答案\niOS 一直以来就是圆角的代表作。应用到到界面设计，其处处圆润的视觉体验无疑是令人愉悦的。从 iPhone X 采用圆角屏幕开始，我们可以看见苹果对「圆角」有多狂热。\n但「圆角」并不是唯一的...</p>\n\n<a href=\"https://36kr.com/p/1356878027653765\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d144a6f2277c7ed90226eb8331e6d7d4","relate_stocks":{"AAPL":"苹果"},"source_url":"https://36kr.com/p/1356878027653765","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159241129","content_text":"我是老人，一名设计师。由于最近的设计方向都逐渐趋同，以及最近发布的 Windows 11 也开始采用圆角设计，让我有了写这篇文章的想法。\n我想告诉你：不要停滞不前，去寻找更多答案。\n「圆角」并不是唯一的答案\niOS 一直以来就是圆角的代表作。应用到到界面设计，其处处圆润的视觉体验无疑是令人愉悦的。从 iPhone X 采用圆角屏幕开始，我们可以看见苹果对「圆角」有多狂热。\n但「圆角」并不是唯一的答案。事实上，在设计中，从来就没有唯一的答案。\n直角也能赏心悦目\n「Windows 8」便是一个典型的例子。从 Windows 7 到 Windows 8 ，微软开始大范围使用锋利的直角，抛弃了 Windows 7 绚丽的 Aero 效果，转而使用大色块和丰富的动效。\n\n「开始」屏幕\n「开始」屏幕虽然为许多人所不适应，但其独树一帜的直角色块设计，依然为 Windows 创造了独一无二的视觉体验，使微软和 Windows 的形象变得锋利，鲜明，这都要归功于「直角」给人高冷，坚韧的感觉。这是「圆角」所不可及的。\n仔细观察，开始屏幕中的磁贴并非简单的「单一色块」，而是采用了微量的渐变色与描边来丰富层次；同样，扁平的 Windows 8 并非只有「大色块 + 文字」，其中还采用了丰富的动效，使得界面鲜活起来。\n\n「磁贴」 并非单一色块\n但是很遗憾。「Windows 8」这款超前的系统，陨落在了不属于它的时代。从 Windows 10 开始，磁铁与动效设计被刻意淡化；在最新的 Windows 11 中，直角设计被完全放弃。\n直角能与圆角并存\n从 iOS 10 到 iOS 11 ，苹果为数字小键盘也加上了圆角设计，此举引发网友不满。大量用户吐槽新设计「更丑」了。\n\n我承认右边的看起来确实更丑了\n很显然该改动是为了响应 iPhone X 「处处圆角，处处圆润」的号召，强行把小键盘改成了圆角按钮。其违和感扑面而来。为什么不试试让直角与圆角共存呢？\n同样的例子在 Chrome 桌面版上也有体现。在 Chrome 69 版本中， Google 悄然将原先带有棱角的标签页，改成了完全的圆角，其描边也被一同抛弃。\n\n可能 Chrome 团队的审美确实非常独特\n由于 Chrome 几乎是全球用户量最多的浏览器，此举引发的骂声铺天盖地而来。reddit 上关于最新版 Chrome 69 的讨论无非是「complain about Chrome 69 (对 Chrome 69 的抱怨）」以及「how to disable round corner in Chrome 69 （如何在 Chrome 69 中关闭圆角）」。\n不过后来的事情大家也都知道了。Google 依旧我行我素，不仅没有把棱角改回来，还关闭了「回到旧版标签页」的隐藏选项；大量网友怨声载道，只能忍气吞声继续使用 Chrome。（谁叫 Chrome 市场份额第一名）\n这是两个反面例子，用以告诉你： 我喜欢直角 直角也是优秀的设计。\n「高斯模糊」并不是唯一的答案\n自 iOS 7 问世以来，苹果开始大规模在界面中采用「高斯模糊」的设计。原先这种模糊算法仅被应用于照片处理等场景。而 iOS 7 几乎可以称得上是将模糊算法应用到用户界面的开山鼻祖。 \n用法\n这块内容并不是要讨论高斯模糊的缺点（其实缺点也显而易见，实时模糊吃显存），而是讨论： 还有没有替补高斯模糊的设计方案 。\n仔细观察高斯模糊在 iOS 中的运用：他们都有一个共同点，那就是都被用于模糊无关的背景，从而实现对中心内容的聚焦。 这模拟了摄影中背景虚化的效果，也最接近人眼观察事物的感觉。\n\n「聚焦」效果\n了解了高斯模糊的用在哪些方面，我们便能发散思维，使用其他效果来替代高斯模糊。下面列出两种各大厂商用的最多的替代方案：\n平均\n平均是一种图像算法。顾名思义，就是从一张包含许多色彩的图片（也就是壁纸）中，平均出最能代表原图片的单一颜色。 也就是我们常常说的「提取主题色」。\n那么提取了主题色有什么用呢？我们把本应为高斯模糊的地方覆盖上主题色不就行了！像这样：\n\n不同的算法提取的主题色不同，这只是一个典型例子\n看到这里，你应该想起来了当时 Android 5.0 带来的 Material Design，其中广泛运用了「平均」。\n半透明\n在高斯模糊还没普及到用户界面的时候，半透明几乎是最火的 UI 元素：Apple 在用，华为也在用，各种大小厂商都跟风在用。这几乎是最简单的替换高斯模糊的方案，同时也很美观。\n「统一」并不是唯一的答案\n我们总是喜欢看到整洁统一的设计，无论是整洁的餐桌，整洁的房间，在 iOS 中亦是如此。但我们是否需要为了统一而统一呢？\n过度「统一」的侧边栏\n苹果对于 iPad 的生产力尤为看重。为了使 UI 设计在这一点上得到响应，从 iPadOS 14 开始，苹果开始大范围在内建 App 上采用「侧边栏」的设计，意图即是与 macOS 中的侧边栏统一，带来「更具生产力」的体验。\n\n一眼看过去似乎还不错 ...\n愿景很美好。但是，这么做，真的对吗？\n让我们以 iPad 的「侧边栏」设计和原先的设计做个对比：原本的导航栏上有四个简洁易懂的图标，作为 App 的主导航，在页面下方居中显示，占用的空间也很小，直观且一目了然；\n而为了与 macOS 的侧边栏强行达到统一，原本的导航栏被移至页面左方，占用大量空间，同时内部填充大量图标，架构混乱，不再简洁。你仍然可以隐藏或显示侧边栏来扩展屏幕，不过这需要执行额外的步骤。\n\n当我打开相册，我最想点选左边的按钮，而不是右边的\n这就使得侧边栏像一个袋子，苹果把什么东西都往里面装，没有分类，没有聚焦，唯一的好处便是与 macOS 形成了统一。\n但这并不是苹果完成「统一」大业的最后一步。在最新的 iPadOS 15 预览版中，苹果甚至为 Safari 浏览器加入了「侧边栏」设计，消耗大块的面积，用途仅仅是为了显示「书签」「阅读列表」「历史记录」以及一个意义不明的新功能「标签组」；你需要反复呼出侧边栏来找到相应的功能。\n\n其他 App 就算了，Safari 里加侧边栏实在是多此一举\n作为上亿 iPad / iPhone 用户的默认浏览器，iPadOS 15 / iOS 15 还带来了许多不可思议的问题：\n\n「刷新网页」操作居然需要进入二级菜单（编注：刷新按钮已在 Beta 4 中回归）；\n十多个常用选项填充在一个「…」二级菜单中；\n要访问你的书签，「只需」执行三步。\n\n我没准备开始吐槽 Apple 清奇的设计思路，Reddit 上的 #iOS 15 Safari 标签下已经聚集了许多不满的声音。\n\n完全赞同\n在纷繁中建立秩序\n显示，上方是一个 iOS 在统一上失败的例子，但这并不是说不需要统一。我们来看看一个成功的例子：\n\n微软的商店确实该改改了\n如果要说「iOS 的应用商店」相较「Windows 的应用商店」有什么成功之处的话，那么我认为 iOS 的应用商店最大的优势便是对每个 App 采用了「统一」的形状约束 。\n试问如果你去超市购物，是愿意看到各个商品都整整齐齐的，还是乱丢乱放的呢？iOS 的应用商店在这一点上尤为出色。\n寻找更多答案\n我们已经走出了 iOS 之外寻找答案，这篇文章就到这里结束了。但试着迈向更深处吧，比如「全 3D 建模 UI」；又或是「智能感知设计」。还有哪些区域是我们从未探索过的呢？\n\n图源 Dribbble，基于 Blender 制作\n我们永远不会停止寻找答案。\n本文来自微信公众号“少数派”（ID:sspaime），作者：老人20000，36氪经授权发布。","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143707725,"gmtCreate":1625815288467,"gmtModify":1703749107771,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143707725","repostId":"2150682378","repostType":4,"repost":{"id":"2150682378","pubTimestamp":1625814142,"share":"https://www.laohu8.com/m/news/2150682378?lang=&edition=full","pubTime":"2021-07-09 15:02","market":"sh","language":"zh","title":"时代轮替的缩影？宁德时代掌门人身家超过了马云","url":"https://stock-news.laohu8.com/highlight/detail?id=2150682378","media":"华尔街见闻","summary":"曾毓群首次成为亚洲最富有的五人之一。","content":"<p>福布斯富豪榜的实时榜单显示，全球最大电动汽车电池制造商<a href=\"https://laohu8.com/S/300750\">宁德时代</a>的创始人曾毓群身家已达到495亿美元，全球财富排名第25位。</p>\n<p>这超过了<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>创始人马云481亿美元的身家，并使曾毓群首次成为亚洲最富有的五人之一。</p>\n<p><b>全球清洁能源的热潮</b></p>\n<p>宁德时代是全球领先的锂离子研发制造公司，专注于新能源汽车动力电池系统、储能系统的研发、生产和销售，客户包括<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>、奔驰、宝马等众多企业，最后一次创业的雷军也曾于5月份拜访宁德时代，商讨电池供应问题。</p>\n<p>宁德时代的客户几乎囊括了汽车领域的前十企业，经营利润也是逐年高增，股价更是爆炸性上升。</p>\n<p>随着电动汽车需求的增加、各国努力减少碳排放和成本的下降，自2018年宁德时代在深圳上市以来，其股价已飙升逾20倍，仅今年就上涨了59%。</p>\n<p>宁德时代市值目前突破1.28万亿，位居A股总市值第5位。</p>\n<p>我国力争二氧化碳排放量于2030年前达到峰值，在2060年实现碳中和目标，已经在全球电动汽车销售市场中处于领先地位。根据中国乘用车协会的数据，2020年中国电动汽车销量增长9.8%至111万辆。</p>\n<p>SNE Research的一份报告显示，今年前五个月，全球电动汽车电池销量较去年同比增长一倍以上，其中宁德时代市场份额最大，占31.2%。</p>\n<p>这场清洁能源热潮推高了宁德时代等特斯拉主要供应商的股价，也使得他们积累了巨额的财富。</p>\n<p>3年前，宁德时代刚刚上市的时候，很多人可能未曾料到锂电池这个行业前景如此巨大，没有意识到新能源汽车未来会取代传统燃油车。</p>\n<p><b>发展前景或将继续广阔</b></p>\n<p>值得注意的是，曾毓群并不是唯一一位受益于宁德时代股价飙升的亿万富翁。公司副董事长黄世林身家已超过210亿美元，而副董事长李平身家85亿美元。</p>\n<p>随着曾毓群的事业平步青云，马云的星途却逐渐衰落，今年他的财富损失了25亿美元。</p>\n<p>据彭博报道，清华大学NIFR全球家族企业研究中心主任高昊表示：</p>\n<blockquote>\n 过去亿万富翁排名由房地产大亨和科技企业家主导，现在更多来自新能源领域。作为电动汽车电池的行业领导者，宁德时代将从碳中和目标中受益最大。\n</blockquote>\n<p>彭博预计，得益于规模经济、具有成本竞争力的上游供应链和稳固的客户基础，宁德时代的全球销售额将继续增长。</p>\n<p><a href=\"https://laohu8.com/S/601995\">中金公司</a>近日发布报告称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德远期全球市场份额有望达到30%以上。</p>\n<p>从长期发展的角度来看，宁德时代能否抓住当前的机遇，赶快实现全产业的覆盖，乃至于产业上下游市场的拓展，真正让市场的预期和市场的空间进行一次全面的匹配，让业绩来说话，可能才是宁德时代必须立刻解决的问题。</p>","source":"wallstreetcn_api","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>时代轮替的缩影？宁德时代掌门人身家超过了马云</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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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\">\n时代轮替的缩影？宁德时代掌门人身家超过了马云\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 15:02 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3634987><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>福布斯富豪榜的实时榜单显示，全球最大电动汽车电池制造商宁德时代的创始人曾毓群身家已达到495亿美元，全球财富排名第25位。\n这超过了阿里巴巴创始人马云481亿美元的身家，并使曾毓群首次成为亚洲最富有的五人之一。\n全球清洁能源的热潮\n宁德时代是全球领先的锂离子研发制造公司，专注于新能源汽车动力电池系统、储能系统的研发、生产和销售，客户包括特斯拉、奔驰、宝马等众多企业，最后一次创业的雷军也曾于5月份...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3634987\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d4781a43b3aa306dd3d778e1dbf292b9","relate_stocks":{"300750":"宁德时代","QNETCN":"纳斯达克中美互联网老虎指数","09988":"阿里巴巴-SW","BABA":"阿里巴巴"},"source_url":"https://wallstreetcn.com/articles/3634987","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150682378","content_text":"福布斯富豪榜的实时榜单显示，全球最大电动汽车电池制造商宁德时代的创始人曾毓群身家已达到495亿美元，全球财富排名第25位。\n这超过了阿里巴巴创始人马云481亿美元的身家，并使曾毓群首次成为亚洲最富有的五人之一。\n全球清洁能源的热潮\n宁德时代是全球领先的锂离子研发制造公司，专注于新能源汽车动力电池系统、储能系统的研发、生产和销售，客户包括特斯拉、奔驰、宝马等众多企业，最后一次创业的雷军也曾于5月份拜访宁德时代，商讨电池供应问题。\n宁德时代的客户几乎囊括了汽车领域的前十企业，经营利润也是逐年高增，股价更是爆炸性上升。\n随着电动汽车需求的增加、各国努力减少碳排放和成本的下降，自2018年宁德时代在深圳上市以来，其股价已飙升逾20倍，仅今年就上涨了59%。\n宁德时代市值目前突破1.28万亿，位居A股总市值第5位。\n我国力争二氧化碳排放量于2030年前达到峰值，在2060年实现碳中和目标，已经在全球电动汽车销售市场中处于领先地位。根据中国乘用车协会的数据，2020年中国电动汽车销量增长9.8%至111万辆。\nSNE Research的一份报告显示，今年前五个月，全球电动汽车电池销量较去年同比增长一倍以上，其中宁德时代市场份额最大，占31.2%。\n这场清洁能源热潮推高了宁德时代等特斯拉主要供应商的股价，也使得他们积累了巨额的财富。\n3年前，宁德时代刚刚上市的时候，很多人可能未曾料到锂电池这个行业前景如此巨大，没有意识到新能源汽车未来会取代传统燃油车。\n发展前景或将继续广阔\n值得注意的是，曾毓群并不是唯一一位受益于宁德时代股价飙升的亿万富翁。公司副董事长黄世林身家已超过210亿美元，而副董事长李平身家85亿美元。\n随着曾毓群的事业平步青云，马云的星途却逐渐衰落，今年他的财富损失了25亿美元。\n据彭博报道，清华大学NIFR全球家族企业研究中心主任高昊表示：\n\n 过去亿万富翁排名由房地产大亨和科技企业家主导，现在更多来自新能源领域。作为电动汽车电池的行业领导者，宁德时代将从碳中和目标中受益最大。\n\n彭博预计，得益于规模经济、具有成本竞争力的上游供应链和稳固的客户基础，宁德时代的全球销售额将继续增长。\n中金公司近日发布报告称，宁德时代此次与特斯拉的协议较之前合作力度更大，考虑到公司下游需求超预期，上调宁德时代的盈利预测，并将目标价调升9%至600元人民币。分析师曾韬等在报告中指出，此次协议未约定中国市场，意味着宁德时代将以配合特斯拉全球市场供应为契机，推动产品加速走向全球。全球需求提振下，宁德远期全球市场份额有望达到30%以上。\n从长期发展的角度来看，宁德时代能否抓住当前的机遇，赶快实现全产业的覆盖，乃至于产业上下游市场的拓展，真正让市场的预期和市场的空间进行一次全面的匹配，让业绩来说话，可能才是宁德时代必须立刻解决的问题。","news_type":1},"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152613842,"gmtCreate":1625286854586,"gmtModify":1703740023182,"author":{"id":"4087441318347290","authorId":"4087441318347290","name":"SeiLing","avatar":"https://static.tigerbbs.com/61706d20f94785010ef505c40d01e97e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/152613842","repostId":"1133195819","repostType":4,"isVote":1,"tweetType":1,"viewCount":4,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}