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KMTEE01

KMTEE01

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2022-01-21

$Alfi Inc.(ALF)$$BLIN$ $MMAT$All are dead stock?

2021-09-20

Ok

Nike, Costco, FedEx, Salesforce, and Other Stocks for Investors to Watch This Week

2021-09-20

$CFM HOLDINGS LIMITED(5EB.SI)$Why dropped

2021-08-27

$ContextLogic Inc.(WISH)$ii believe you can fly ..... All the way to the moon

2021-08-25

$Alfi Inc.(ALF)$anyone can help?

2021-08-25

OK

Berkshire Hathaway Remains Undervalued

2021-08-23

To the ?!!!

2021-08-18

Read

Sorry, the original content has been removed

2021-08-16

$Provention Bio, Inc(PRVB)$which one should I save first???

2021-08-16

$Bridgeline Digital(BLIN)$It's time to buy in more? Please advise....thanks

2021-08-13

Why drop

2021-08-12

Ok

Sorry, the original content has been removed

2021-08-12

What happens?

2021-08-11

Nice

The Ark Funds' Actions to Lighten up China Concepts Stocks

2021-08-10

Will this share rise up to the moon?

2021-08-10

$XIAOMI-W(01810)$when I can place sell order? I place at 1620hrs but rejected. Please advise. Thanks

2021-08-10

Ok

Sorry, the original content has been removed

2021-07-30

When can fly to the ?

2021-07-28

OK

Sorry, the original content has been removed

2021-07-25

No

Sorry, the original content has been removed

Go to Tiger App to see more news

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href=\"https://ttm.financial/S/ALF\">$Alfi Inc.(ALF)$</a>$BLIN$ $MMAT$All are dead stock?","listText":"<a href=\"https://ttm.financial/S/ALF\">$Alfi Inc.(ALF)$</a>$BLIN$ $MMAT$All are dead stock?","text":"$Alfi Inc.(ALF)$$BLIN$ $MMAT$All are dead 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The Federal Reserve is likely to keep the federal-funds rate unchanged at near zero, but might signal that it will pare its asset purchases later this year.</p>\n<p>General Mills reports first-quarter fiscal-2022 results.</p>\n<p>Boston Scientific,Weyerhaeuser, and&nbsp;Yum China Holdings&nbsp;host their 2021 investor days.</p>\n<p><b>TheBank of Japan</b>&nbsp;announces its monetary-policy decision. The BOJ is widely expected to keep its key short-term interest rate unchanged at minus 0.1%, as Tokyo and other regions remain in a state of emergency through the end of September due to the Covid-19 Delta variant.</p>\n<p><b>The National Association</b>&nbsp;of Realtors reports existing-home sales for August. Expectations are for a seasonally adjusted annual rate of 578,000 homes sold, down 3.5%&nbsp;from July’s 599,000.</p>\n<p><b>Thursday 9/23</b></p>\n<p>Accenture, Costco Wholesale, Darden Restaurants, and Nike hold conference calls to discuss their quarterly results.</p>\n<p>Salesforce.com holds its 2021 investor day. CEO Marc Benioff and Slack CEO Stewart Butterfield will be among the participants. Salesforce completed its $28 billion acquisition of Slack this summer.</p>\n<p><b>The Conference Board</b>&nbsp;releases its Leading Economic Index for August. Economists forecast a 0.5% month-over-month rise, after a 0.9% increase in July. The Conference Board currently projects 6% gross-domestic-product growth for 2021, and 4% for 2022.</p>\n<p><b>Friday 9/24</b></p>\n<p>Kansas City Southernhosts a special shareholder meeting to vote on a proposed merger withCanadian Pacific Railway.</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>Nike, Costco, FedEx, Salesforce, and Other Stocks for Investors to Watch 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\">\nNike, Costco, FedEx, Salesforce, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-20 06:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/nike-costco-fedex-salesforce-and-other-stocks-for-investors-to-watch-this-week-51632078208?mod=hp_LEAD_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The main event this week will be the Federal Reserve’s September policy meeting. Investors will also be watching for several corporate earnings releases, investor days, and the latest economic data.\n...</p>\n\n<a href=\"https://www.barrons.com/articles/nike-costco-fedex-salesforce-and-other-stocks-for-investors-to-watch-this-week-51632078208?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":{"NKE":"耐克",".SPX":"S&P 500 Index",".DJI":"道琼斯","CRM":"赛富时","COST":"好市多","ADBE":"Adobe","FDX":"联邦快递",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/nike-costco-fedex-salesforce-and-other-stocks-for-investors-to-watch-this-week-51632078208?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194891884","content_text":"The main event this week will be the Federal Reserve’s September policy meeting. Investors will also be watching for several corporate earnings releases, investor days, and the latest economic data.\nLennar reports quarterly earnings on Monday, followed by results from Adobe, AutoZone, and FedEx on Tuesday. General Mills goes on Wednesday, then Nike, Accenture, Costco Wholesale, and Darden Restaurants report on Thursday. Investor days this week include Biogen on Tuesday, Weyerhaeuser on Wednesday, and Salesforce.com on Thursday.\nThe Federal Reserve’s monetary policy committee meets on Tuesday and Wednesday this week. The central bank is unlikely to change its target interest rate range, but could give an update on its plans to begin reducing its monthly asset purchases. Wednesday afternoon’s press conference with Fed chair Jerome Powell will be closely watched.\nEconomic data out this week include the Conference Board’s Leading Economic Index for August on Thursday. There will also be several updates on the U.S. housing market including the National Association of Home Builders’ Housing Market Index for September on Monday, the Census Bureau’s new residential construction data for August on Tuesday, and the National Association of Realtors’ existing-home sales for August on Wednesday.\nMonday 9/20\nLennar reports third-quarter fiscal-2021 results.\nMerck presents data on its portfolio of cancer drugs, in conjunction with the European Society for Medical Oncology’s 2021 Congress.\nThe National Association of Home Builders releases its Housing Market Index for September. Economists forecast a 73 reading, two points below August’s figure, which was the lowest in more than a year.\nTuesday 9/21\nAdobe, AutoZone, and FedEx release earnings.\nBiogen hosts an investor day to discuss its pipeline of neuroscience therapeutics.\nThe Census Bureau reports on new residential construction for August. Consensus estimate is for a seasonally adjusted annual rate of 1.55 million housing starts, 1% higher than the July level. Housing starts are down from their post–financial crisis peak of 1.725 million, reached in March of this year.\nWednesday 9/22\nThe FOMC announces its monetary-policy decision. The Federal Reserve is likely to keep the federal-funds rate unchanged at near zero, but might signal that it will pare its asset purchases later this year.\nGeneral Mills reports first-quarter fiscal-2022 results.\nBoston Scientific,Weyerhaeuser, and Yum China Holdings host their 2021 investor days.\nTheBank of Japan announces its monetary-policy decision. The BOJ is widely expected to keep its key short-term interest rate unchanged at minus 0.1%, as Tokyo and other regions remain in a state of emergency through the end of September due to the Covid-19 Delta variant.\nThe National Association of Realtors reports existing-home sales for August. Expectations are for a seasonally adjusted annual rate of 578,000 homes sold, down 3.5% from July’s 599,000.\nThursday 9/23\nAccenture, Costco Wholesale, Darden Restaurants, and Nike hold conference calls to discuss their quarterly results.\nSalesforce.com holds its 2021 investor day. CEO Marc Benioff and Slack CEO Stewart Butterfield will be among the participants. Salesforce completed its $28 billion acquisition of Slack this summer.\nThe Conference Board releases its Leading Economic Index for August. Economists forecast a 0.5% month-over-month rise, after a 0.9% increase in July. The Conference Board currently projects 6% gross-domestic-product growth for 2021, and 4% for 2022.\nFriday 9/24\nKansas City Southernhosts a special shareholder meeting to vote on a proposed merger withCanadian Pacific Railway.","news_type":1,"symbols_score_info":{".IXIC":0.9,"NKE":0.9,"COST":0.9,".DJI":0.9,"CRM":0.9,"ADBE":0.9,"FDX":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860062343,"gmtCreate":1632108672082,"gmtModify":1676530702772,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/5EB.SI\">$CFM HOLDINGS LIMITED(5EB.SI)$</a>Why dropped","listText":"<a href=\"https://laohu8.com/S/5EB.SI\">$CFM HOLDINGS LIMITED(5EB.SI)$</a>Why dropped","text":"$CFM HOLDINGS LIMITED(5EB.SI)$Why dropped","images":[{"img":"https://static.tigerbbs.com/7bffb7233ab187dd0314f813eaf6b592","width":"1080","height":"3323"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/860062343","isVote":1,"tweetType":1,"viewCount":3374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":819828574,"gmtCreate":1630056251998,"gmtModify":1676530212424,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a>ii believe you can fly ..... All the way to the moon&nbsp;","listText":"<a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a>ii believe you can fly ..... All the way to the moon&nbsp;","text":"$ContextLogic Inc.(WISH)$ii believe you can fly ..... All the way to the moon","images":[{"img":"https://static.tigerbbs.com/5569803d2f8f4c5d4c5c1c1476600341","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/819828574","isVote":1,"tweetType":1,"viewCount":2369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":834751830,"gmtCreate":1629843635620,"gmtModify":1676530145769,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ALF\">$Alfi Inc.(ALF)$</a>anyone can help?","listText":"<a href=\"https://laohu8.com/S/ALF\">$Alfi Inc.(ALF)$</a>anyone can help?","text":"$Alfi Inc.(ALF)$anyone can help?","images":[{"img":"https://static.tigerbbs.com/62baf63343282fcfea5a13c32c3f0c2d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834751830","isVote":1,"tweetType":1,"viewCount":2828,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":834753408,"gmtCreate":1629843591404,"gmtModify":1676530145761,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834753408","repostId":"1147501136","repostType":4,"repost":{"id":"1147501136","kind":"news","pubTimestamp":1629817852,"share":"https://ttm.financial/m/news/1147501136?lang=&edition=fundamental","pubTime":"2021-08-24 23:10","market":"us","language":"en","title":"Berkshire Hathaway Remains Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=1147501136","media":"seekingalpha","summary":"Summary\n\nCEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 20","content":"<p><b>Summary</b></p>\n<ul>\n <li>CEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 2021.</li>\n <li>First half 2021 pre-tax operating earnings for manufacturing and service/retailing are up nicely over the first half of 2020.</li>\n <li>The stock portfolio is now in excess of $300 billion!</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b1ec40867d5f48e0522635854570624\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>RiverNorthPhotography/iStock Unreleased via Getty Images</span></p>\n<p><b>Introduction</b></p>\n<p>My thesis is that Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B)is undervalued. CEO Warren Buffett has been taking advantage of this by buying back shares. He repurchased the equivalent of 80,998 “A” shares in 2020 which increased the ownership for existing shareholders by 5.2%. In the first half of this year, the 2Q2110-Qcash flow statement shows $12.6 billion in buybacks which is more than the $6.7 billion they spent in the first half of 2020. In some ways CEO Buffett can be reticent in terms of vocalizing things when the stock is cheap; his buyback actions speak louder than his words.</p>\n<p>Looking at the 2Q21 10-Q balance sheet, the first 5 lines are a big part of our valuation estimate:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a8aafe372259b0d3a4c58271edd28993\" tg-width=\"600\" tg-height=\"772\" width=\"100%\" height=\"auto\"><span>Image Source: 2Q21 10-Q</span></p>\n<p><b>BNSF $115 Billion</b></p>\n<p>BNSF has many similarities to Union Pacific(NYSE:UNP)including the approximate level of debt to enterprise value. The 2Q21 Union Pacific10-Qshows 652,122,933 shares outstanding as of July 16, 2021. Their share price for June 30, 2021 was $219.93 implying a June 30th market cap of $143.4 billion. I believe the market cap of BNSF is at least 80% of Union Pacific’s or $115 billion.</p>\n<p><b>Berkshire Hathaway Energy (“BHE”) $48.6 Billion</b></p>\n<p>We can use the prices at which BHE was repurchased for a valuation estimate but that information is getting dated. Per the BHE 2Q2110-Q, the last batch was during the first half of 2020 when 180,358 shares were repurchased for $126 million implying a share price of $698.61. The BHE 2Q21 10-Q shows 76,368,874 shares outstanding as of August 5, 2021, implying a market cap of $53.4 billion if the price from the first half of 2020 is still sound.</p>\n<p>Berkshire’s 2Q21 10-Q says they own 91.1% meaning non-controlling interests own the rest. In other words, Berkshire owns $48.6 billion and non-controlling interests own $4.8 billion.</p>\n<p><b>Other Non-Insurance Subsidiaries $195 Billion</b></p>\n<p>The 2Q21 10-Q breaks down revenue and pre-tax earnings under Note 23, Business segment data:</p>\n<p><i>Image Source: 2Q21 10-Q</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f01f33ed3856e8b1eff604acc2ebe65\" tg-width=\"600\" tg-height=\"522\" width=\"100%\" height=\"auto\"><span>Image Source: 2Q21 10-Q</span></p>\n<p>I like to use a pre-tax earnings multiple of 13 times for manufacturing, McLane and service/retailing. Their 1H21 pre-tax earnings were $5.2 billion, $0.2 billion and $2.1 billion, respectively. These numbers are a huge improvement over the first half of 2020! Summing them up and annualizing gives us $15 billion. Applying a multiple of 13 times brings us to $195 billion.</p>\n<p>Cash, T-bills &amp; Fixed Maturities $161.2 Billion</p>\n<p>This is the sum of the first 3 lines on the balance sheet which are $38.9 billion in cash and equivalents plus $101.8 billion in T-bills plus $20.5 billion in fixed maturities.</p>\n<p><b>Stocks $307.9 Billion</b></p>\n<p>Per the 4th line in the balance sheet, we have $307.9 billion in stocks. Apple(NASDAQ:AAPL)is by far the biggest part of this portfolio. The13Fthrough June 2021 shows $121.5 billion in Apple stock.</p>\n<p><b>Equity Method Investments $16.5 Billion</b></p>\n<p>The 5th line of the balance sheet shows $16.5 billion here. Note 5, Equity method investments, on the 2020 10-K showed that the carrying value of $13.3 billion for Kraft Heinz(NASDAQ:KHC)on the balance sheet was $2 billion higher than the fair value of $11.3 billion. However note 5 on the 2Q21 10-Q shows that the fair value went up to the same range as the carrying value so we don’t need to make any adjustments here.</p>\n<p><b>Deferred Tax Liability $(27) Billion</b></p>\n<p>Note 18, Income taxes, isn’t as detailed on the 10-Qs as on the 10-Ks. I’m sticking with the $27 billion net investment tax liability estimate used in my February 2021article.</p>\n<p><b>Non-Controlling Interests $(3.6) Billion</b></p>\n<p>The balance sheet shows $8.4 billion in non-controlling interests but we attributed $4.8 billion to BHE investors. As such, there is another $3.6 billion or so of non-controlling interests outside of BHE.</p>\n<p><b>Other Considerations $0</b></p>\n<p>I treat the insurance operations and the float liability as a wash. I can see why fastidious accountants aren’t crazy about this but I don’t think it makes a huge difference to the overall valuation whether or not these are broken out separately.</p>\n<p><b>Valuation Chart</b></p>\n<p>The 2Q21 says that on an equivalent Class A common stock basis, there were 1,511,229 shares outstanding as of June 30, 2021:</p>\n<img src=\"https://static.tigerbbs.com/81717a4c648c5027fde69b68d33cf46f\" tg-width=\"814\" tg-height=\"695\" width=\"100%\" height=\"auto\">\n<img src=\"https://static.tigerbbs.com/c490184d538a90c0980d497e3b964523\" tg-width=\"813\" tg-height=\"584\" width=\"100%\" height=\"auto\">\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>Here is a more visual interpretation:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d0183d76b73ebb2503f940ca5c3eec85\" tg-width=\"600\" tg-height=\"558\" width=\"100%\" height=\"auto\"><span>Image Source: Author’s spreadsheet</span></p>\n<p>Of course the above chart is somewhere near the middle of my range. Rather than thinking about a valuation of $814 billion exactly, I think it could be approximately $50 billion higher or lower such that my range with round numbers to the nearest $5 billion is about $765 billion to $865 billion.</p>\n<p>Given the August 23rd (BRK.A) share price of $425,000, and the 1,511,229 class A share equivalents, the implied market cap is $642 billion. Seeing as the market cap is well below my valuation range, I think the stock is priced very reasonably for long-term investors.</p>\n<p>Some think it will be calamitous when CEO Buffett retires but he has built the company with a stable architecture that should hold up well for years to come.</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>Berkshire Hathaway Remains Undervalued</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\">\nBerkshire Hathaway Remains Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-24 23:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4451491-berkshire-hathaway-remains-undervalued><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 2021.\nFirst half 2021 pre-tax operating earnings for manufacturing and service/retailing are up nicely...</p>\n\n<a href=\"https://seekingalpha.com/article/4451491-berkshire-hathaway-remains-undervalued\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://seekingalpha.com/article/4451491-berkshire-hathaway-remains-undervalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147501136","content_text":"Summary\n\nCEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 2021.\nFirst half 2021 pre-tax operating earnings for manufacturing and service/retailing are up nicely over the first half of 2020.\nThe stock portfolio is now in excess of $300 billion!\n\nRiverNorthPhotography/iStock Unreleased via Getty Images\nIntroduction\nMy thesis is that Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B)is undervalued. CEO Warren Buffett has been taking advantage of this by buying back shares. He repurchased the equivalent of 80,998 “A” shares in 2020 which increased the ownership for existing shareholders by 5.2%. In the first half of this year, the 2Q2110-Qcash flow statement shows $12.6 billion in buybacks which is more than the $6.7 billion they spent in the first half of 2020. In some ways CEO Buffett can be reticent in terms of vocalizing things when the stock is cheap; his buyback actions speak louder than his words.\nLooking at the 2Q21 10-Q balance sheet, the first 5 lines are a big part of our valuation estimate:\nImage Source: 2Q21 10-Q\nBNSF $115 Billion\nBNSF has many similarities to Union Pacific(NYSE:UNP)including the approximate level of debt to enterprise value. The 2Q21 Union Pacific10-Qshows 652,122,933 shares outstanding as of July 16, 2021. Their share price for June 30, 2021 was $219.93 implying a June 30th market cap of $143.4 billion. I believe the market cap of BNSF is at least 80% of Union Pacific’s or $115 billion.\nBerkshire Hathaway Energy (“BHE”) $48.6 Billion\nWe can use the prices at which BHE was repurchased for a valuation estimate but that information is getting dated. Per the BHE 2Q2110-Q, the last batch was during the first half of 2020 when 180,358 shares were repurchased for $126 million implying a share price of $698.61. The BHE 2Q21 10-Q shows 76,368,874 shares outstanding as of August 5, 2021, implying a market cap of $53.4 billion if the price from the first half of 2020 is still sound.\nBerkshire’s 2Q21 10-Q says they own 91.1% meaning non-controlling interests own the rest. In other words, Berkshire owns $48.6 billion and non-controlling interests own $4.8 billion.\nOther Non-Insurance Subsidiaries $195 Billion\nThe 2Q21 10-Q breaks down revenue and pre-tax earnings under Note 23, Business segment data:\nImage Source: 2Q21 10-Q\nImage Source: 2Q21 10-Q\nI like to use a pre-tax earnings multiple of 13 times for manufacturing, McLane and service/retailing. Their 1H21 pre-tax earnings were $5.2 billion, $0.2 billion and $2.1 billion, respectively. These numbers are a huge improvement over the first half of 2020! Summing them up and annualizing gives us $15 billion. Applying a multiple of 13 times brings us to $195 billion.\nCash, T-bills & Fixed Maturities $161.2 Billion\nThis is the sum of the first 3 lines on the balance sheet which are $38.9 billion in cash and equivalents plus $101.8 billion in T-bills plus $20.5 billion in fixed maturities.\nStocks $307.9 Billion\nPer the 4th line in the balance sheet, we have $307.9 billion in stocks. Apple(NASDAQ:AAPL)is by far the biggest part of this portfolio. The13Fthrough June 2021 shows $121.5 billion in Apple stock.\nEquity Method Investments $16.5 Billion\nThe 5th line of the balance sheet shows $16.5 billion here. Note 5, Equity method investments, on the 2020 10-K showed that the carrying value of $13.3 billion for Kraft Heinz(NASDAQ:KHC)on the balance sheet was $2 billion higher than the fair value of $11.3 billion. However note 5 on the 2Q21 10-Q shows that the fair value went up to the same range as the carrying value so we don’t need to make any adjustments here.\nDeferred Tax Liability $(27) Billion\nNote 18, Income taxes, isn’t as detailed on the 10-Qs as on the 10-Ks. I’m sticking with the $27 billion net investment tax liability estimate used in my February 2021article.\nNon-Controlling Interests $(3.6) Billion\nThe balance sheet shows $8.4 billion in non-controlling interests but we attributed $4.8 billion to BHE investors. As such, there is another $3.6 billion or so of non-controlling interests outside of BHE.\nOther Considerations $0\nI treat the insurance operations and the float liability as a wash. I can see why fastidious accountants aren’t crazy about this but I don’t think it makes a huge difference to the overall valuation whether or not these are broken out separately.\nValuation Chart\nThe 2Q21 says that on an equivalent Class A common stock basis, there were 1,511,229 shares outstanding as of June 30, 2021:\n\n\n\n\n\n\n\nHere is a more visual interpretation:\nImage Source: Author’s spreadsheet\nOf course the above chart is somewhere near the middle of my range. Rather than thinking about a valuation of $814 billion exactly, I think it could be approximately $50 billion higher or lower such that my range with round numbers to the nearest $5 billion is about $765 billion to $865 billion.\nGiven the August 23rd (BRK.A) share price of $425,000, and the 1,511,229 class A share equivalents, the implied market cap is $642 billion. Seeing as the market cap is well below my valuation range, I think the stock is priced very reasonably for long-term investors.\nSome think it will be calamitous when CEO Buffett retires but he has built the company with a stable architecture that should hold up well for years to come.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835877430,"gmtCreate":1629707804320,"gmtModify":1676530106218,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"To the ?!!!","listText":"To the ?!!!","text":"To the ?!!!","images":[{"img":"https://static.tigerbbs.com/a10823da8c6899681f882fa2c90ee530","width":"1080","height":"2351"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835877430","isVote":1,"tweetType":1,"viewCount":2325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":833790958,"gmtCreate":1629260440174,"gmtModify":1676529982978,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Read","listText":"Read","text":"Read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/833790958","repostId":"2160207426","repostType":4,"isVote":1,"tweetType":1,"viewCount":3234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839166958,"gmtCreate":1629127398974,"gmtModify":1676529940920,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PRVB\">$Provention Bio, Inc(PRVB)$</a>which one should I save first???","listText":"<a href=\"https://laohu8.com/S/PRVB\">$Provention Bio, Inc(PRVB)$</a>which one should I save first???","text":"$Provention Bio, Inc(PRVB)$which one should I save first???","images":[{"img":"https://static.tigerbbs.com/05d3c6a1fdb9dd2d63b61460a9d1b1f8","width":"1640","height":"1888"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/839166958","isVote":1,"tweetType":1,"viewCount":3174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"EN","totalScore":0},{"id":839186745,"gmtCreate":1629126816987,"gmtModify":1676529940657,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BLIN\">$Bridgeline Digital(BLIN)$</a>It's time to buy in more? Please advise....thanks&nbsp;","listText":"<a href=\"https://laohu8.com/S/BLIN\">$Bridgeline Digital(BLIN)$</a>It's time to buy in more? Please advise....thanks&nbsp;","text":"$Bridgeline Digital(BLIN)$It's time to buy in more? Please advise....thanks","images":[{"img":"https://static.tigerbbs.com/ce79035fd3289f91f03d91999207445d","width":"1640","height":"1888"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/839186745","isVote":1,"tweetType":1,"viewCount":3250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":894179772,"gmtCreate":1628813884696,"gmtModify":1676529861603,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Why drop","listText":"Why drop","text":"Why drop","images":[{"img":"https://static.tigerbbs.com/f2b98712290e37a0f2692dfabc6b7364","width":"1080","height":"3650"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894179772","isVote":1,"tweetType":1,"viewCount":956,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":895751264,"gmtCreate":1628775425858,"gmtModify":1676529850283,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895751264","repostId":"1163871448","repostType":4,"isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895995119,"gmtCreate":1628699872631,"gmtModify":1676529826997,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"What happens?","listText":"What happens?","text":"What happens?","images":[{"img":"https://static.tigerbbs.com/41179fd7db6f56840fe9ca7b021c180b","width":"1080","height":"2509"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895995119","isVote":1,"tweetType":1,"viewCount":931,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":892683444,"gmtCreate":1628655018688,"gmtModify":1676529810921,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892683444","repostId":"1163924715","repostType":4,"repost":{"id":"1163924715","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628654753,"share":"https://ttm.financial/m/news/1163924715?lang=&edition=fundamental","pubTime":"2021-08-11 12:05","market":"sh","language":"en","title":"The Ark Funds' Actions to Lighten up China Concepts Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1163924715","media":"Tiger Newspress","summary":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond","content":"<p><b>Pre-market overview</b></p>\n<p>U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p>\n<p>In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p>\n<p>On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p>\n<p><img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p>\n<p><b>About Its Positions</b></p>\n<p>As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p>\n<p>The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p>\n<p><b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p>\n<p>10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p>\n<p>The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p>\n<p>Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p>\n<p>The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p>\n<p>In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</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>The Ark Funds' Actions to Lighten up China Concepts Stocks</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 Ark Funds' Actions to Lighten up China Concepts Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-11 12:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Pre-market overview</b></p>\n<p>U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p>\n<p>In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p>\n<p>On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p>\n<p><img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p>\n<p><b>About Its Positions</b></p>\n<p>As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p>\n<p>The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p>\n<p><b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p>\n<p>10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p>\n<p>The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p>\n<p>Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p>\n<p>The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p>\n<p>In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","NIU":"小牛电动","LI":"理想汽车","BZ":"BOSS直聘","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163924715","content_text":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond Yields dropped again in Asias hours, pulling down the prices of commodities with crude oil falling up to 5%. China Concepts Stocks rose slightly in the pre-market trading.\nIn the secondary market, there are two types of US funds willing to make investments in China. Thereinto, one of them has liquidated or been gradually liquidating their holdings. According to the daily operations of the Ark Funds, it has been reducing its positions in China Concepts Stocks including Tencent, and has never increased its positions, although the afore-mentioned stocks have rebounded to some extent recently. A more pleasing signal appeared lately is that the Ark Funds has stopped lightening up Chinese stocks.\nOn July 1st, a total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including 8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC). Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as shown in the following figure.\n\nAbout Its Positions\nAs a fund that is not active enough to invest in Chinese stocks, it is hard to say that the size of $1.8-billion position is small. The largest mutual fund that invests in emerging markets is the Invesco Developing Markets Fund, which has an investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks and A shares. Therefore, Ark's investment in China is not trivial.\nThe Ark Funds claims to be technology-based, but it seems that the Funds does not fully trust China's technology. By analyzing its holdings on Chinese stocks, the most positions held by the Ark Funds now are stocks of e-commerce which owns vast purchasing power, rather than those of technology companies. Cathie Wood, an American investor as well as the CEO & CIO of Ark Invest, once praised Baidu's driverless technology on TV, while their position in Baidu’s stock is not so large. Then, here comes the new energy vehicles of China. The investment target of the Ark Funds is not the Chinese EV trio including Li Auto, NIO Inc. and XPeng Inc., but NIU Technologies. The electric vehicles produced by Niu Technologies are good sellers in New York, while another three makers have not yet expanded into the United States. Once again, it reflects Cathie Wood's skeptical attitude towards China's \"technology\".\nLet’s look into the lightening of the Ark Funds\n10 stocks are chosen to analyze their share changes. 5 stocks with the largest positions on July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5 billion, accounting for about 80%. Another 5 stocks are BABA, NIU, HUYA, BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key dates are marked below.\nFigure 1\nFigure 2\nThe Ark Funds cleared all its positions in HUYA on July 13 and 14 (marked in the Figure above). The news of the failed merger between Huya and DouYu was announced on July 12, but the Ark Funds did not substantially lighten up its position on the day, and continued the pace in the past few days. \nAnother marked date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on Friday, July 23. On that day, few people realized that a chain reaction had occurred, and Chinese stocks listed in Hong Kong would slump in the following week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had to lighten up its positions. The top 5 largest positions were all reduced by Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's suspicion of high-growth companies in China.\nThe third marked date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds only lightened up its positions in the stocks of BOSS Zhipin (Kanzhun Limited), which is also a company with a relatively small market value. Meanwhile, Cathie Wood is still very insistent on the investments in NIU Technologies.\nIn the past week, the prices of China Concepts Stocks still hovered at a low level, but the Ark Funds no longer lightened up their positions. At present, there are only 7 stocks left. Based on the closing price last Friday, the position is $450 million, which is a 75% decrease compared to that of July 1.","news_type":1,"symbols_score_info":{"XPEV":0.9,"BZ":0.9,"NIO":0.9,"NIU":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896216669,"gmtCreate":1628584420751,"gmtModify":1703508562818,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Will this share rise up to the moon?","listText":"Will this share rise up to the moon?","text":"Will this share rise up to the moon?","images":[{"img":"https://static.tigerbbs.com/7f233de1816eb976c0fad0af56973d88","width":"1080","height":"2608"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/896216669","isVote":1,"tweetType":1,"viewCount":857,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":896218607,"gmtCreate":1628584381609,"gmtModify":1703508562317,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/01810\">$XIAOMI-W(01810)$</a>when I can place sell order? I place at 1620hrs but rejected. Please advise. Thanks","listText":"<a href=\"https://laohu8.com/S/01810\">$XIAOMI-W(01810)$</a>when I can place sell order? I place at 1620hrs but rejected. Please advise. Thanks","text":"$XIAOMI-W(01810)$when I can place sell order? I place at 1620hrs but rejected. Please advise. Thanks","images":[{"img":"https://static.tigerbbs.com/4555a5f029e5bf6db2efe8e6da8cd319","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/896218607","isVote":1,"tweetType":1,"viewCount":840,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":896029904,"gmtCreate":1628544528308,"gmtModify":1703507738137,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/896029904","repostId":"1178202513","repostType":4,"isVote":1,"tweetType":1,"viewCount":672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808502864,"gmtCreate":1627600055658,"gmtModify":1703492974121,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"When can fly to the ?","listText":"When can fly to the ?","text":"When can fly to the ?","images":[{"img":"https://static.tigerbbs.com/69498e9754f6e98b0e7115fa71404413","width":"1080","height":"3695"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808502864","isVote":1,"tweetType":1,"viewCount":559,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":803166971,"gmtCreate":1627428526793,"gmtModify":1703489616720,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803166971","repostId":"1130824999","repostType":4,"isVote":1,"tweetType":1,"viewCount":728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177846587,"gmtCreate":1627200543649,"gmtModify":1703485504595,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"No","listText":"No","text":"No","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/177846587","repostId":"2153936352","repostType":4,"isVote":1,"tweetType":1,"viewCount":1096,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":171179520,"gmtCreate":1626730042560,"gmtModify":1703763977929,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MMAT\">$Meta Materials Inc.(MMAT)$</a>let go or hold?","listText":"<a href=\"https://laohu8.com/S/MMAT\">$Meta Materials Inc.(MMAT)$</a>let go or hold?","text":"$Meta Materials Inc.(MMAT)$let go or hold?","images":[{"img":"https://static.tigerbbs.com/48375ca6d475b013af7114d492e58046","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/171179520","isVote":1,"tweetType":1,"viewCount":1181,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3580818914185657","authorId":"3580818914185657","name":"VirusK","avatar":"https://community-static.tradeup.com/news/5ba418286b83491cdfee2dfabe0be6f3","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3580818914185657","idStr":"3580818914185657"},"content":"You let go u lose everything, hold still got chance bounce back","text":"You let go u lose everything, hold still got chance bounce back","html":"You let go u lose everything, hold still got chance bounce back"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":839186745,"gmtCreate":1629126816987,"gmtModify":1676529940657,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BLIN\">$Bridgeline Digital(BLIN)$</a>It's time to buy in more? Please advise....thanks&nbsp;","listText":"<a href=\"https://laohu8.com/S/BLIN\">$Bridgeline Digital(BLIN)$</a>It's time to buy in more? Please advise....thanks&nbsp;","text":"$Bridgeline Digital(BLIN)$It's time to buy in more? Please advise....thanks","images":[{"img":"https://static.tigerbbs.com/ce79035fd3289f91f03d91999207445d","width":"1640","height":"1888"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/839186745","isVote":1,"tweetType":1,"viewCount":3250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":896029904,"gmtCreate":1628544528308,"gmtModify":1703507738137,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/896029904","repostId":"1178202513","repostType":4,"isVote":1,"tweetType":1,"viewCount":672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803166971,"gmtCreate":1627428526793,"gmtModify":1703489616720,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/803166971","repostId":"1130824999","repostType":4,"isVote":1,"tweetType":1,"viewCount":728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156918404,"gmtCreate":1625190021708,"gmtModify":1703737978545,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/156918404","repostId":"2148820668","repostType":4,"repost":{"id":"2148820668","kind":"highlight","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":1625188500,"share":"https://ttm.financial/m/news/2148820668?lang=&edition=fundamental","pubTime":"2021-07-02 09:15","market":"fut","language":"en","title":"Oil price spike would accelerate U.S. shift to electric vehicles: Kemp","url":"https://stock-news.laohu8.com/highlight/detail?id=2148820668","media":"Reuters","summary":"LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel econom","content":"<p>LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel economy in the United States that depends on the extent and expected duration of price changes.</p>\n<p>In general, periods of high and rising oil prices have resulted in consumers opting to buy more smaller, lighter and more fuel-efficient cars and trucks, reducing gasoline consumption growth compared with the previous trend.</p>\n<p>By contrast, periods of low and falling prices have resulted in consumers opting for larger, heavier, more powerful and less fuel-efficient vehicles, increasing gasoline consumption compared with the prior trend.</p>\n<p>The full impact of price changes on fuel consumption is often distributed over several years, across several changes in the economic cycle, which makes attribution and correlations difficult.</p>\n<p>In future, however, higher prices could have a much larger and faster impact on gasoline consumption because full-electric and hybrid vehicles have emerged as a viable alternative to gasoline-fuelled cars and light trucks.</p>\n<p>Gasoline-hybrid, full-electric and other alternative-powered vehicles accounted for 11% of all new vehicles produced in 2020, up from just 3% in 2015, according to the U.S. Environmental Protection Agency <a href=\"https://laohu8.com/S/EPA.AU\">$(EPA.AU)$</a>.</p>\n<p>High and rising prices are likely to accelerate the adoption of hybrid and electric vehicles as consumers attempt to reduce fuel bills and regulators push for a faster transition away from gasoline-fuelled powertrains.</p>\n<p>If oil prices surge again, as they did between 2005 and 2014, the result is likely to be a relatively rapid and permanent loss of consumption in the United States.</p>\n<p>ECONOMY CHOICES</p>\n<p>Vehicle fuel economy is the result of choices made by regulators (who set minimum legal standards); motor manufacturers (who make choices about development, production and marketing of model ranges within the envelop set by regulators); and consumers (who make choices about which models to purchase within available ranges).</p>\n<p>Over the last four decades, consumers have shown a clear preference for larger, heavier and more powerful vehicles, with a long-term trend towards more truck-based rather than car-based platforms.</p>\n<p>Between 1980 and 2020, the share of cars in new vehicles fell from 84% to 43%, while the share of light trucks grew from 16% to 57% (“Automotive trends report”, EPA, January 2021).</p>\n<p>Over the same period, the average weight of new vehicles increased by 949 pounds (29%) and average engine power increased by 143 horsepower (138%) ().</p>\n<p>Motor manufacturers have also generally preferred producing, marketing and selling larger, heavier, more powerful vehicles, and trucks rather than cars, since the profits are higher.</p>\n<p>But within this long-term trend, periods of high and rising oil prices have temporarily shifted the balance from heavier and more powerful vehicles to more fuel-efficient ones, with both short-term and long-term impacts.</p>\n<p>OIL PRICE IMPACT</p>\n<p>High and rising prices encourage greater fuel economy through two channels.</p>\n<p>First, when prices are high, consumers opt for smaller, lighter and more fuel-efficient vehicles within existing ranges. This impact is largely short-term and is quickly reversed if prices fall again.</p>\n<p>Second, high prices encourage regulators tighten fuel-economy standards for future ranges. This impact is long-term, playing out over multiple years, much stickier, and less likely to reverse if prices fall again.</p>\n<p>In contrast to consumers and motor manufacturers, regulators tend to favour greater fuel efficiency for economic, national security and environmental reasons.</p>\n<p>But their willingness to push for tougher fuel economy standards in the face of resistance from consumers and lobbying from manufacturers has largely been a function of prices.</p>\n<p>High and rising prices make regulators more willing to toughen fuel economy standards and consumers and manufacturers more willing to tolerate them.</p>\n<p>HIGH-PRICE DECADE</p>\n<p>The impact of high and rising oil prices on fuel economy was most evident between 2004 and 2014, when prices were well above long-term averages, except for a relatively brief period following the financial crisis in 2008/09.</p>\n<p>The median real price of Brent surged to $105 per barrel between 2005 and 2014, compared with just $40 between 2000 and 2004, and $61 between 2015 and 2021.</p>\n<p>In response, the federal government tightened fuel economy standards several times while consumers attached higher priority to fuel economy.</p>\n<p>From 2005 to about 2014, there was a shift back from trucks towards cars; vehicle weight, which had been increasing, was largely flat; and engine power increased slightly more slowly than before or afterwards.</p>\n<p>As a result, vehicle fuel economy increased at a compound annual rate of 2.25% over the ten high-priced years between 2004 and 2014, after declining 0.55% per year over the previous ten low-priced years from 1994 to 2004.</p>\n<p>U.S. gasoline consumption, which peaked in 2007, did not exceed this level again until 2016, according to the U.S. Energy Information Administration (“Petroleum supply monthly”, EIA, June 2021).</p>\n<p>DELAYED EFFECTS</p>\n<p>In the short term, the impact of oil price changes on whole-fleet fuel economy and gasoline consumption is relatively minor.</p>\n<p>New fuel-economy standards take years to draft and go into effect, new vehicles account for only a small share of the whole fleet, and older vehicles are retired slowly (less than 10% of the fleet turns over each year).</p>\n<p>But the impact of higher prices on fuel economy and gasoline consumption increases over time as new standards go into effect and apply to an increasing share of the fleet.</p>\n<p>The delayed impact of high prices between 2005 and 2014 is still boosting fuel economy and dampening gasoline consumption growth today.</p>\n<p>If prices spike again over the next few years, regulators, manufacturers and consumers are likely to switch to hybrid and all-electric vehicles much faster, resulting in a permanent loss of oil consumption.</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>Oil price spike would accelerate U.S. shift to electric vehicles: Kemp</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil price spike would accelerate U.S. shift to electric vehicles: Kemp\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 09:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel economy in the United States that depends on the extent and expected duration of price changes.</p>\n<p>In general, periods of high and rising oil prices have resulted in consumers opting to buy more smaller, lighter and more fuel-efficient cars and trucks, reducing gasoline consumption growth compared with the previous trend.</p>\n<p>By contrast, periods of low and falling prices have resulted in consumers opting for larger, heavier, more powerful and less fuel-efficient vehicles, increasing gasoline consumption compared with the prior trend.</p>\n<p>The full impact of price changes on fuel consumption is often distributed over several years, across several changes in the economic cycle, which makes attribution and correlations difficult.</p>\n<p>In future, however, higher prices could have a much larger and faster impact on gasoline consumption because full-electric and hybrid vehicles have emerged as a viable alternative to gasoline-fuelled cars and light trucks.</p>\n<p>Gasoline-hybrid, full-electric and other alternative-powered vehicles accounted for 11% of all new vehicles produced in 2020, up from just 3% in 2015, according to the U.S. Environmental Protection Agency <a href=\"https://laohu8.com/S/EPA.AU\">$(EPA.AU)$</a>.</p>\n<p>High and rising prices are likely to accelerate the adoption of hybrid and electric vehicles as consumers attempt to reduce fuel bills and regulators push for a faster transition away from gasoline-fuelled powertrains.</p>\n<p>If oil prices surge again, as they did between 2005 and 2014, the result is likely to be a relatively rapid and permanent loss of consumption in the United States.</p>\n<p>ECONOMY CHOICES</p>\n<p>Vehicle fuel economy is the result of choices made by regulators (who set minimum legal standards); motor manufacturers (who make choices about development, production and marketing of model ranges within the envelop set by regulators); and consumers (who make choices about which models to purchase within available ranges).</p>\n<p>Over the last four decades, consumers have shown a clear preference for larger, heavier and more powerful vehicles, with a long-term trend towards more truck-based rather than car-based platforms.</p>\n<p>Between 1980 and 2020, the share of cars in new vehicles fell from 84% to 43%, while the share of light trucks grew from 16% to 57% (“Automotive trends report”, EPA, January 2021).</p>\n<p>Over the same period, the average weight of new vehicles increased by 949 pounds (29%) and average engine power increased by 143 horsepower (138%) ().</p>\n<p>Motor manufacturers have also generally preferred producing, marketing and selling larger, heavier, more powerful vehicles, and trucks rather than cars, since the profits are higher.</p>\n<p>But within this long-term trend, periods of high and rising oil prices have temporarily shifted the balance from heavier and more powerful vehicles to more fuel-efficient ones, with both short-term and long-term impacts.</p>\n<p>OIL PRICE IMPACT</p>\n<p>High and rising prices encourage greater fuel economy through two channels.</p>\n<p>First, when prices are high, consumers opt for smaller, lighter and more fuel-efficient vehicles within existing ranges. This impact is largely short-term and is quickly reversed if prices fall again.</p>\n<p>Second, high prices encourage regulators tighten fuel-economy standards for future ranges. This impact is long-term, playing out over multiple years, much stickier, and less likely to reverse if prices fall again.</p>\n<p>In contrast to consumers and motor manufacturers, regulators tend to favour greater fuel efficiency for economic, national security and environmental reasons.</p>\n<p>But their willingness to push for tougher fuel economy standards in the face of resistance from consumers and lobbying from manufacturers has largely been a function of prices.</p>\n<p>High and rising prices make regulators more willing to toughen fuel economy standards and consumers and manufacturers more willing to tolerate them.</p>\n<p>HIGH-PRICE DECADE</p>\n<p>The impact of high and rising oil prices on fuel economy was most evident between 2004 and 2014, when prices were well above long-term averages, except for a relatively brief period following the financial crisis in 2008/09.</p>\n<p>The median real price of Brent surged to $105 per barrel between 2005 and 2014, compared with just $40 between 2000 and 2004, and $61 between 2015 and 2021.</p>\n<p>In response, the federal government tightened fuel economy standards several times while consumers attached higher priority to fuel economy.</p>\n<p>From 2005 to about 2014, there was a shift back from trucks towards cars; vehicle weight, which had been increasing, was largely flat; and engine power increased slightly more slowly than before or afterwards.</p>\n<p>As a result, vehicle fuel economy increased at a compound annual rate of 2.25% over the ten high-priced years between 2004 and 2014, after declining 0.55% per year over the previous ten low-priced years from 1994 to 2004.</p>\n<p>U.S. gasoline consumption, which peaked in 2007, did not exceed this level again until 2016, according to the U.S. Energy Information Administration (“Petroleum supply monthly”, EIA, June 2021).</p>\n<p>DELAYED EFFECTS</p>\n<p>In the short term, the impact of oil price changes on whole-fleet fuel economy and gasoline consumption is relatively minor.</p>\n<p>New fuel-economy standards take years to draft and go into effect, new vehicles account for only a small share of the whole fleet, and older vehicles are retired slowly (less than 10% of the fleet turns over each year).</p>\n<p>But the impact of higher prices on fuel economy and gasoline consumption increases over time as new standards go into effect and apply to an increasing share of the fleet.</p>\n<p>The delayed impact of high prices between 2005 and 2014 is still boosting fuel economy and dampening gasoline consumption growth today.</p>\n<p>If prices spike again over the next few years, regulators, manufacturers and consumers are likely to switch to hybrid and all-electric vehicles much faster, resulting in a permanent loss of oil consumption.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"USO":"美国原油ETF","SCO":"二倍做空彭博原油指数ETF","DDG":"ProShares做空石油与天然气ETF","UNG":"美国天然气基金","UCO":"二倍做多彭博原油ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","DWT":"三倍做空原油ETN","UGAZ":"三倍做多天然气ETN(VelocityShares)","DGAZ":"三倍做空天然气ETN(VelocityShares)"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148820668","content_text":"LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel economy in the United States that depends on the extent and expected duration of price changes.\nIn general, periods of high and rising oil prices have resulted in consumers opting to buy more smaller, lighter and more fuel-efficient cars and trucks, reducing gasoline consumption growth compared with the previous trend.\nBy contrast, periods of low and falling prices have resulted in consumers opting for larger, heavier, more powerful and less fuel-efficient vehicles, increasing gasoline consumption compared with the prior trend.\nThe full impact of price changes on fuel consumption is often distributed over several years, across several changes in the economic cycle, which makes attribution and correlations difficult.\nIn future, however, higher prices could have a much larger and faster impact on gasoline consumption because full-electric and hybrid vehicles have emerged as a viable alternative to gasoline-fuelled cars and light trucks.\nGasoline-hybrid, full-electric and other alternative-powered vehicles accounted for 11% of all new vehicles produced in 2020, up from just 3% in 2015, according to the U.S. Environmental Protection Agency $(EPA.AU)$.\nHigh and rising prices are likely to accelerate the adoption of hybrid and electric vehicles as consumers attempt to reduce fuel bills and regulators push for a faster transition away from gasoline-fuelled powertrains.\nIf oil prices surge again, as they did between 2005 and 2014, the result is likely to be a relatively rapid and permanent loss of consumption in the United States.\nECONOMY CHOICES\nVehicle fuel economy is the result of choices made by regulators (who set minimum legal standards); motor manufacturers (who make choices about development, production and marketing of model ranges within the envelop set by regulators); and consumers (who make choices about which models to purchase within available ranges).\nOver the last four decades, consumers have shown a clear preference for larger, heavier and more powerful vehicles, with a long-term trend towards more truck-based rather than car-based platforms.\nBetween 1980 and 2020, the share of cars in new vehicles fell from 84% to 43%, while the share of light trucks grew from 16% to 57% (“Automotive trends report”, EPA, January 2021).\nOver the same period, the average weight of new vehicles increased by 949 pounds (29%) and average engine power increased by 143 horsepower (138%) ().\nMotor manufacturers have also generally preferred producing, marketing and selling larger, heavier, more powerful vehicles, and trucks rather than cars, since the profits are higher.\nBut within this long-term trend, periods of high and rising oil prices have temporarily shifted the balance from heavier and more powerful vehicles to more fuel-efficient ones, with both short-term and long-term impacts.\nOIL PRICE IMPACT\nHigh and rising prices encourage greater fuel economy through two channels.\nFirst, when prices are high, consumers opt for smaller, lighter and more fuel-efficient vehicles within existing ranges. This impact is largely short-term and is quickly reversed if prices fall again.\nSecond, high prices encourage regulators tighten fuel-economy standards for future ranges. This impact is long-term, playing out over multiple years, much stickier, and less likely to reverse if prices fall again.\nIn contrast to consumers and motor manufacturers, regulators tend to favour greater fuel efficiency for economic, national security and environmental reasons.\nBut their willingness to push for tougher fuel economy standards in the face of resistance from consumers and lobbying from manufacturers has largely been a function of prices.\nHigh and rising prices make regulators more willing to toughen fuel economy standards and consumers and manufacturers more willing to tolerate them.\nHIGH-PRICE DECADE\nThe impact of high and rising oil prices on fuel economy was most evident between 2004 and 2014, when prices were well above long-term averages, except for a relatively brief period following the financial crisis in 2008/09.\nThe median real price of Brent surged to $105 per barrel between 2005 and 2014, compared with just $40 between 2000 and 2004, and $61 between 2015 and 2021.\nIn response, the federal government tightened fuel economy standards several times while consumers attached higher priority to fuel economy.\nFrom 2005 to about 2014, there was a shift back from trucks towards cars; vehicle weight, which had been increasing, was largely flat; and engine power increased slightly more slowly than before or afterwards.\nAs a result, vehicle fuel economy increased at a compound annual rate of 2.25% over the ten high-priced years between 2004 and 2014, after declining 0.55% per year over the previous ten low-priced years from 1994 to 2004.\nU.S. gasoline consumption, which peaked in 2007, did not exceed this level again until 2016, according to the U.S. Energy Information Administration (“Petroleum supply monthly”, EIA, June 2021).\nDELAYED EFFECTS\nIn the short term, the impact of oil price changes on whole-fleet fuel economy and gasoline consumption is relatively minor.\nNew fuel-economy standards take years to draft and go into effect, new vehicles account for only a small share of the whole fleet, and older vehicles are retired slowly (less than 10% of the fleet turns over each year).\nBut the impact of higher prices on fuel economy and gasoline consumption increases over time as new standards go into effect and apply to an increasing share of the fleet.\nThe delayed impact of high prices between 2005 and 2014 is still boosting fuel economy and dampening gasoline consumption growth today.\nIf prices spike again over the next few years, regulators, manufacturers and consumers are likely to switch to hybrid and all-electric vehicles much faster, resulting in a permanent loss of oil consumption.","news_type":1,"symbols_score_info":{"NGmain":0.9,"DWT":0.9,"DGAZ":0.9,"DDG":0.9,"SCO":0.9,"USO":0.9,"UNG":0.9,"UCO":0.9,"UGAZ":0.9,"QGmain":0.9,"DUG":0.9,"QMmain":0.9,"CLmain":0.9,"BZmain":0.9,"RBmain":0.9}},"isVote":1,"tweetType":1,"viewCount":624,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3571345352614779","authorId":"3571345352614779","name":"xiaobaii","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3571345352614779","idStr":"3571345352614779"},"content":"like & comment please, Thank You Very Much","text":"like & comment please, Thank You Very Much","html":"like & comment please, Thank You Very Much"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159064036,"gmtCreate":1624931805825,"gmtModify":1703848219978,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AWG.SI\">$AEI CORPORATION LTD(AWG.SI)$</a>today buy the&nbsp;share still can get dividends? Pls advice","listText":"<a href=\"https://laohu8.com/S/AWG.SI\">$AEI CORPORATION LTD(AWG.SI)$</a>today buy the&nbsp;share still can get dividends? Pls advice","text":"$AEI CORPORATION LTD(AWG.SI)$today buy the share still can get dividends? Pls advice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/159064036","isVote":1,"tweetType":1,"viewCount":1949,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834753408,"gmtCreate":1629843591404,"gmtModify":1676530145761,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834753408","repostId":"1147501136","repostType":4,"repost":{"id":"1147501136","kind":"news","pubTimestamp":1629817852,"share":"https://ttm.financial/m/news/1147501136?lang=&edition=fundamental","pubTime":"2021-08-24 23:10","market":"us","language":"en","title":"Berkshire Hathaway Remains Undervalued","url":"https://stock-news.laohu8.com/highlight/detail?id=1147501136","media":"seekingalpha","summary":"Summary\n\nCEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 20","content":"<p><b>Summary</b></p>\n<ul>\n <li>CEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 2021.</li>\n <li>First half 2021 pre-tax operating earnings for manufacturing and service/retailing are up nicely over the first half of 2020.</li>\n <li>The stock portfolio is now in excess of $300 billion!</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b1ec40867d5f48e0522635854570624\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>RiverNorthPhotography/iStock Unreleased via Getty Images</span></p>\n<p><b>Introduction</b></p>\n<p>My thesis is that Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B)is undervalued. CEO Warren Buffett has been taking advantage of this by buying back shares. He repurchased the equivalent of 80,998 “A” shares in 2020 which increased the ownership for existing shareholders by 5.2%. In the first half of this year, the 2Q2110-Qcash flow statement shows $12.6 billion in buybacks which is more than the $6.7 billion they spent in the first half of 2020. In some ways CEO Buffett can be reticent in terms of vocalizing things when the stock is cheap; his buyback actions speak louder than his words.</p>\n<p>Looking at the 2Q21 10-Q balance sheet, the first 5 lines are a big part of our valuation estimate:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a8aafe372259b0d3a4c58271edd28993\" tg-width=\"600\" tg-height=\"772\" width=\"100%\" height=\"auto\"><span>Image Source: 2Q21 10-Q</span></p>\n<p><b>BNSF $115 Billion</b></p>\n<p>BNSF has many similarities to Union Pacific(NYSE:UNP)including the approximate level of debt to enterprise value. The 2Q21 Union Pacific10-Qshows 652,122,933 shares outstanding as of July 16, 2021. Their share price for June 30, 2021 was $219.93 implying a June 30th market cap of $143.4 billion. I believe the market cap of BNSF is at least 80% of Union Pacific’s or $115 billion.</p>\n<p><b>Berkshire Hathaway Energy (“BHE”) $48.6 Billion</b></p>\n<p>We can use the prices at which BHE was repurchased for a valuation estimate but that information is getting dated. Per the BHE 2Q2110-Q, the last batch was during the first half of 2020 when 180,358 shares were repurchased for $126 million implying a share price of $698.61. The BHE 2Q21 10-Q shows 76,368,874 shares outstanding as of August 5, 2021, implying a market cap of $53.4 billion if the price from the first half of 2020 is still sound.</p>\n<p>Berkshire’s 2Q21 10-Q says they own 91.1% meaning non-controlling interests own the rest. In other words, Berkshire owns $48.6 billion and non-controlling interests own $4.8 billion.</p>\n<p><b>Other Non-Insurance Subsidiaries $195 Billion</b></p>\n<p>The 2Q21 10-Q breaks down revenue and pre-tax earnings under Note 23, Business segment data:</p>\n<p><i>Image Source: 2Q21 10-Q</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f01f33ed3856e8b1eff604acc2ebe65\" tg-width=\"600\" tg-height=\"522\" width=\"100%\" height=\"auto\"><span>Image Source: 2Q21 10-Q</span></p>\n<p>I like to use a pre-tax earnings multiple of 13 times for manufacturing, McLane and service/retailing. Their 1H21 pre-tax earnings were $5.2 billion, $0.2 billion and $2.1 billion, respectively. These numbers are a huge improvement over the first half of 2020! Summing them up and annualizing gives us $15 billion. Applying a multiple of 13 times brings us to $195 billion.</p>\n<p>Cash, T-bills &amp; Fixed Maturities $161.2 Billion</p>\n<p>This is the sum of the first 3 lines on the balance sheet which are $38.9 billion in cash and equivalents plus $101.8 billion in T-bills plus $20.5 billion in fixed maturities.</p>\n<p><b>Stocks $307.9 Billion</b></p>\n<p>Per the 4th line in the balance sheet, we have $307.9 billion in stocks. Apple(NASDAQ:AAPL)is by far the biggest part of this portfolio. The13Fthrough June 2021 shows $121.5 billion in Apple stock.</p>\n<p><b>Equity Method Investments $16.5 Billion</b></p>\n<p>The 5th line of the balance sheet shows $16.5 billion here. Note 5, Equity method investments, on the 2020 10-K showed that the carrying value of $13.3 billion for Kraft Heinz(NASDAQ:KHC)on the balance sheet was $2 billion higher than the fair value of $11.3 billion. However note 5 on the 2Q21 10-Q shows that the fair value went up to the same range as the carrying value so we don’t need to make any adjustments here.</p>\n<p><b>Deferred Tax Liability $(27) Billion</b></p>\n<p>Note 18, Income taxes, isn’t as detailed on the 10-Qs as on the 10-Ks. I’m sticking with the $27 billion net investment tax liability estimate used in my February 2021article.</p>\n<p><b>Non-Controlling Interests $(3.6) Billion</b></p>\n<p>The balance sheet shows $8.4 billion in non-controlling interests but we attributed $4.8 billion to BHE investors. As such, there is another $3.6 billion or so of non-controlling interests outside of BHE.</p>\n<p><b>Other Considerations $0</b></p>\n<p>I treat the insurance operations and the float liability as a wash. I can see why fastidious accountants aren’t crazy about this but I don’t think it makes a huge difference to the overall valuation whether or not these are broken out separately.</p>\n<p><b>Valuation Chart</b></p>\n<p>The 2Q21 says that on an equivalent Class A common stock basis, there were 1,511,229 shares outstanding as of June 30, 2021:</p>\n<img src=\"https://static.tigerbbs.com/81717a4c648c5027fde69b68d33cf46f\" tg-width=\"814\" tg-height=\"695\" width=\"100%\" height=\"auto\">\n<img src=\"https://static.tigerbbs.com/c490184d538a90c0980d497e3b964523\" tg-width=\"813\" tg-height=\"584\" width=\"100%\" height=\"auto\">\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>Here is a more visual interpretation:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d0183d76b73ebb2503f940ca5c3eec85\" tg-width=\"600\" tg-height=\"558\" width=\"100%\" height=\"auto\"><span>Image Source: Author’s spreadsheet</span></p>\n<p>Of course the above chart is somewhere near the middle of my range. Rather than thinking about a valuation of $814 billion exactly, I think it could be approximately $50 billion higher or lower such that my range with round numbers to the nearest $5 billion is about $765 billion to $865 billion.</p>\n<p>Given the August 23rd (BRK.A) share price of $425,000, and the 1,511,229 class A share equivalents, the implied market cap is $642 billion. Seeing as the market cap is well below my valuation range, I think the stock is priced very reasonably for long-term investors.</p>\n<p>Some think it will be calamitous when CEO Buffett retires but he has built the company with a stable architecture that should hold up well for years to come.</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>Berkshire Hathaway Remains Undervalued</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\">\nBerkshire Hathaway Remains Undervalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-24 23:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4451491-berkshire-hathaway-remains-undervalued><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 2021.\nFirst half 2021 pre-tax operating earnings for manufacturing and service/retailing are up nicely...</p>\n\n<a href=\"https://seekingalpha.com/article/4451491-berkshire-hathaway-remains-undervalued\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://seekingalpha.com/article/4451491-berkshire-hathaway-remains-undervalued","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147501136","content_text":"Summary\n\nCEO Warren Buffett has bought back a large number of shares in 2020 in the first half of 2021.\nFirst half 2021 pre-tax operating earnings for manufacturing and service/retailing are up nicely over the first half of 2020.\nThe stock portfolio is now in excess of $300 billion!\n\nRiverNorthPhotography/iStock Unreleased via Getty Images\nIntroduction\nMy thesis is that Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B)is undervalued. CEO Warren Buffett has been taking advantage of this by buying back shares. He repurchased the equivalent of 80,998 “A” shares in 2020 which increased the ownership for existing shareholders by 5.2%. In the first half of this year, the 2Q2110-Qcash flow statement shows $12.6 billion in buybacks which is more than the $6.7 billion they spent in the first half of 2020. In some ways CEO Buffett can be reticent in terms of vocalizing things when the stock is cheap; his buyback actions speak louder than his words.\nLooking at the 2Q21 10-Q balance sheet, the first 5 lines are a big part of our valuation estimate:\nImage Source: 2Q21 10-Q\nBNSF $115 Billion\nBNSF has many similarities to Union Pacific(NYSE:UNP)including the approximate level of debt to enterprise value. The 2Q21 Union Pacific10-Qshows 652,122,933 shares outstanding as of July 16, 2021. Their share price for June 30, 2021 was $219.93 implying a June 30th market cap of $143.4 billion. I believe the market cap of BNSF is at least 80% of Union Pacific’s or $115 billion.\nBerkshire Hathaway Energy (“BHE”) $48.6 Billion\nWe can use the prices at which BHE was repurchased for a valuation estimate but that information is getting dated. Per the BHE 2Q2110-Q, the last batch was during the first half of 2020 when 180,358 shares were repurchased for $126 million implying a share price of $698.61. The BHE 2Q21 10-Q shows 76,368,874 shares outstanding as of August 5, 2021, implying a market cap of $53.4 billion if the price from the first half of 2020 is still sound.\nBerkshire’s 2Q21 10-Q says they own 91.1% meaning non-controlling interests own the rest. In other words, Berkshire owns $48.6 billion and non-controlling interests own $4.8 billion.\nOther Non-Insurance Subsidiaries $195 Billion\nThe 2Q21 10-Q breaks down revenue and pre-tax earnings under Note 23, Business segment data:\nImage Source: 2Q21 10-Q\nImage Source: 2Q21 10-Q\nI like to use a pre-tax earnings multiple of 13 times for manufacturing, McLane and service/retailing. Their 1H21 pre-tax earnings were $5.2 billion, $0.2 billion and $2.1 billion, respectively. These numbers are a huge improvement over the first half of 2020! Summing them up and annualizing gives us $15 billion. Applying a multiple of 13 times brings us to $195 billion.\nCash, T-bills & Fixed Maturities $161.2 Billion\nThis is the sum of the first 3 lines on the balance sheet which are $38.9 billion in cash and equivalents plus $101.8 billion in T-bills plus $20.5 billion in fixed maturities.\nStocks $307.9 Billion\nPer the 4th line in the balance sheet, we have $307.9 billion in stocks. Apple(NASDAQ:AAPL)is by far the biggest part of this portfolio. The13Fthrough June 2021 shows $121.5 billion in Apple stock.\nEquity Method Investments $16.5 Billion\nThe 5th line of the balance sheet shows $16.5 billion here. Note 5, Equity method investments, on the 2020 10-K showed that the carrying value of $13.3 billion for Kraft Heinz(NASDAQ:KHC)on the balance sheet was $2 billion higher than the fair value of $11.3 billion. However note 5 on the 2Q21 10-Q shows that the fair value went up to the same range as the carrying value so we don’t need to make any adjustments here.\nDeferred Tax Liability $(27) Billion\nNote 18, Income taxes, isn’t as detailed on the 10-Qs as on the 10-Ks. I’m sticking with the $27 billion net investment tax liability estimate used in my February 2021article.\nNon-Controlling Interests $(3.6) Billion\nThe balance sheet shows $8.4 billion in non-controlling interests but we attributed $4.8 billion to BHE investors. As such, there is another $3.6 billion or so of non-controlling interests outside of BHE.\nOther Considerations $0\nI treat the insurance operations and the float liability as a wash. I can see why fastidious accountants aren’t crazy about this but I don’t think it makes a huge difference to the overall valuation whether or not these are broken out separately.\nValuation Chart\nThe 2Q21 says that on an equivalent Class A common stock basis, there were 1,511,229 shares outstanding as of June 30, 2021:\n\n\n\n\n\n\n\nHere is a more visual interpretation:\nImage Source: Author’s spreadsheet\nOf course the above chart is somewhere near the middle of my range. Rather than thinking about a valuation of $814 billion exactly, I think it could be approximately $50 billion higher or lower such that my range with round numbers to the nearest $5 billion is about $765 billion to $865 billion.\nGiven the August 23rd (BRK.A) share price of $425,000, and the 1,511,229 class A share equivalents, the implied market cap is $642 billion. Seeing as the market cap is well below my valuation range, I think the stock is priced very reasonably for long-term investors.\nSome think it will be calamitous when CEO Buffett retires but he has built the company with a stable architecture that should hold up well for years to come.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":2434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892683444,"gmtCreate":1628655018688,"gmtModify":1676529810921,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/892683444","repostId":"1163924715","repostType":4,"repost":{"id":"1163924715","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628654753,"share":"https://ttm.financial/m/news/1163924715?lang=&edition=fundamental","pubTime":"2021-08-11 12:05","market":"sh","language":"en","title":"The Ark Funds' Actions to Lighten up China Concepts Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1163924715","media":"Tiger Newspress","summary":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond","content":"<p><b>Pre-market overview</b></p>\n<p>U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p>\n<p>In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p>\n<p>On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p>\n<p><img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p>\n<p><b>About Its Positions</b></p>\n<p>As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p>\n<p>The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p>\n<p><b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p>\n<p>10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p>\n<p>The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p>\n<p>Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p>\n<p>The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p>\n<p>In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</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>The Ark Funds' Actions to Lighten up China Concepts Stocks</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 Ark Funds' Actions to Lighten up China Concepts Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-11 12:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Pre-market overview</b></p>\n<p>U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p>\n<p>In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p>\n<p>On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p>\n<p><img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p>\n<p><b>About Its Positions</b></p>\n<p>As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p>\n<p>The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p>\n<p><b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p>\n<p>10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p>\n<p>The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p>\n<p>Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p>\n<p>The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p>\n<p>In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","NIU":"小牛电动","LI":"理想汽车","BZ":"BOSS直聘","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163924715","content_text":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond Yields dropped again in Asias hours, pulling down the prices of commodities with crude oil falling up to 5%. China Concepts Stocks rose slightly in the pre-market trading.\nIn the secondary market, there are two types of US funds willing to make investments in China. Thereinto, one of them has liquidated or been gradually liquidating their holdings. According to the daily operations of the Ark Funds, it has been reducing its positions in China Concepts Stocks including Tencent, and has never increased its positions, although the afore-mentioned stocks have rebounded to some extent recently. A more pleasing signal appeared lately is that the Ark Funds has stopped lightening up Chinese stocks.\nOn July 1st, a total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including 8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC). Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as shown in the following figure.\n\nAbout Its Positions\nAs a fund that is not active enough to invest in Chinese stocks, it is hard to say that the size of $1.8-billion position is small. The largest mutual fund that invests in emerging markets is the Invesco Developing Markets Fund, which has an investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks and A shares. Therefore, Ark's investment in China is not trivial.\nThe Ark Funds claims to be technology-based, but it seems that the Funds does not fully trust China's technology. By analyzing its holdings on Chinese stocks, the most positions held by the Ark Funds now are stocks of e-commerce which owns vast purchasing power, rather than those of technology companies. Cathie Wood, an American investor as well as the CEO & CIO of Ark Invest, once praised Baidu's driverless technology on TV, while their position in Baidu’s stock is not so large. Then, here comes the new energy vehicles of China. The investment target of the Ark Funds is not the Chinese EV trio including Li Auto, NIO Inc. and XPeng Inc., but NIU Technologies. The electric vehicles produced by Niu Technologies are good sellers in New York, while another three makers have not yet expanded into the United States. Once again, it reflects Cathie Wood's skeptical attitude towards China's \"technology\".\nLet’s look into the lightening of the Ark Funds\n10 stocks are chosen to analyze their share changes. 5 stocks with the largest positions on July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5 billion, accounting for about 80%. Another 5 stocks are BABA, NIU, HUYA, BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key dates are marked below.\nFigure 1\nFigure 2\nThe Ark Funds cleared all its positions in HUYA on July 13 and 14 (marked in the Figure above). The news of the failed merger between Huya and DouYu was announced on July 12, but the Ark Funds did not substantially lighten up its position on the day, and continued the pace in the past few days. \nAnother marked date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on Friday, July 23. On that day, few people realized that a chain reaction had occurred, and Chinese stocks listed in Hong Kong would slump in the following week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had to lighten up its positions. The top 5 largest positions were all reduced by Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's suspicion of high-growth companies in China.\nThe third marked date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds only lightened up its positions in the stocks of BOSS Zhipin (Kanzhun Limited), which is also a company with a relatively small market value. Meanwhile, Cathie Wood is still very insistent on the investments in NIU Technologies.\nIn the past week, the prices of China Concepts Stocks still hovered at a low level, but the Ark Funds no longer lightened up their positions. At present, there are only 7 stocks left. Based on the closing price last Friday, the position is $450 million, which is a 75% decrease compared to that of July 1.","news_type":1,"symbols_score_info":{"XPEV":0.9,"BZ":0.9,"NIO":0.9,"NIU":0.9,"LI":0.9}},"isVote":1,"tweetType":1,"viewCount":463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170944466,"gmtCreate":1626401635955,"gmtModify":1703759443076,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ALF\">$Alfi Inc.(ALF)$</a>when u will fly up to the moon ??","listText":"<a href=\"https://laohu8.com/S/ALF\">$Alfi Inc.(ALF)$</a>when u will fly up to the moon ??","text":"$Alfi Inc.(ALF)$when u will fly up to the moon ??","images":[{"img":"https://static.tigerbbs.com/0d8b2147481017cfa05d6ef3680df480","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170944466","isVote":1,"tweetType":1,"viewCount":596,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":146360249,"gmtCreate":1626054210181,"gmtModify":1703752408276,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ALF\">$Alfi Inc.(ALF)$</a>any chances tonight?","listText":"<a href=\"https://laohu8.com/S/ALF\">$Alfi Inc.(ALF)$</a>any chances tonight?","text":"$Alfi Inc.(ALF)$any chances tonight?","images":[{"img":"https://static.tigerbbs.com/d2c43a0790f1fe7d20b12dce8923be02","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/146360249","isVote":1,"tweetType":1,"viewCount":801,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":833790958,"gmtCreate":1629260440174,"gmtModify":1676529982978,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Read","listText":"Read","text":"Read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/833790958","repostId":"2160207426","repostType":4,"isVote":1,"tweetType":1,"viewCount":3234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860065998,"gmtCreate":1632108746914,"gmtModify":1676530702787,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/860065998","repostId":"1194891884","repostType":4,"repost":{"id":"1194891884","kind":"news","pubTimestamp":1632091615,"share":"https://ttm.financial/m/news/1194891884?lang=&edition=fundamental","pubTime":"2021-09-20 06:46","market":"us","language":"en","title":"Nike, Costco, FedEx, Salesforce, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1194891884","media":"Barrons","summary":"The main event this week will be the Federal Reserve’s September policy meeting. Investors will also","content":"<p>The main event this week will be the Federal Reserve’s September policy meeting. Investors will also be watching for several corporate earnings releases, investor days, and the latest economic data.</p>\n<p>Lennar reports quarterly earnings on Monday, followed by results from Adobe, AutoZone, and FedEx on Tuesday. General Mills goes on Wednesday, then Nike, Accenture, Costco Wholesale, and Darden Restaurants report&nbsp;on Thursday. Investor days this week include&nbsp;Biogen on Tuesday,&nbsp;Weyerhaeuser on Wednesday, and&nbsp;Salesforce.com on Thursday.</p>\n<p>The Federal Reserve’s monetary policy committee meets on Tuesday and Wednesday this week. The central bank is unlikely&nbsp;to change its target interest rate range, but could give an update on its plans to begin reducing its monthly asset purchases. Wednesday afternoon’s&nbsp;press conference with Fed chair Jerome Powell will be closely&nbsp;watched.</p>\n<p>Economic data out this week include the Conference Board’s Leading Economic Index for August on Thursday. There will also be several updates on the U.S. housing market including the National Association of Home Builders’ Housing Market Index for September on Monday, the Census Bureau’s new residential construction data for August on Tuesday, and the National Association of Realtors’&nbsp;existing-home sales for August on Wednesday.</p>\n<p><b>Monday 9/20</b></p>\n<p>Lennar reports third-quarter fiscal-2021 results.</p>\n<p>Merck presents data on its portfolio of cancer drugs, in conjunction with the European Society for Medical Oncology’s 2021 Congress.</p>\n<p><b>The National Association</b>&nbsp;of Home Builders releases its Housing Market Index for September. Economists forecast a 73 reading, two points below August’s figure, which was the lowest in more than a year.</p>\n<p><b>Tuesday 9/21</b></p>\n<p>Adobe, AutoZone, and FedEx release earnings.</p>\n<p>Biogen hosts an investor day to discuss its pipeline of neuroscience therapeutics.</p>\n<p><b>The Census Bureau</b>&nbsp;reports on new residential construction for August. Consensus estimate is for a seasonally adjusted annual rate of 1.55 million housing starts, 1% higher than the July level. Housing starts are down from their post–financial crisis peak of 1.725 million, reached in March of this year.</p>\n<p><b>Wednesday 9/22</b></p>\n<p><b>The FOMC announces</b>&nbsp;its monetary-policy decision. The Federal Reserve is likely to keep the federal-funds rate unchanged at near zero, but might signal that it will pare its asset purchases later this year.</p>\n<p>General Mills reports first-quarter fiscal-2022 results.</p>\n<p>Boston Scientific,Weyerhaeuser, and&nbsp;Yum China Holdings&nbsp;host their 2021 investor days.</p>\n<p><b>TheBank of Japan</b>&nbsp;announces its monetary-policy decision. The BOJ is widely expected to keep its key short-term interest rate unchanged at minus 0.1%, as Tokyo and other regions remain in a state of emergency through the end of September due to the Covid-19 Delta variant.</p>\n<p><b>The National Association</b>&nbsp;of Realtors reports existing-home sales for August. Expectations are for a seasonally adjusted annual rate of 578,000 homes sold, down 3.5%&nbsp;from July’s 599,000.</p>\n<p><b>Thursday 9/23</b></p>\n<p>Accenture, Costco Wholesale, Darden Restaurants, and Nike hold conference calls to discuss their quarterly results.</p>\n<p>Salesforce.com holds its 2021 investor day. CEO Marc Benioff and Slack CEO Stewart Butterfield will be among the participants. Salesforce completed its $28 billion acquisition of Slack this summer.</p>\n<p><b>The Conference Board</b>&nbsp;releases its Leading Economic Index for August. Economists forecast a 0.5% month-over-month rise, after a 0.9% increase in July. The Conference Board currently projects 6% gross-domestic-product growth for 2021, and 4% for 2022.</p>\n<p><b>Friday 9/24</b></p>\n<p>Kansas City Southernhosts a special shareholder meeting to vote on a proposed merger withCanadian Pacific Railway.</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>Nike, Costco, FedEx, Salesforce, and Other Stocks for Investors to Watch 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\">\nNike, Costco, FedEx, Salesforce, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-20 06:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/nike-costco-fedex-salesforce-and-other-stocks-for-investors-to-watch-this-week-51632078208?mod=hp_LEAD_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The main event this week will be the Federal Reserve’s September policy meeting. Investors will also be watching for several corporate earnings releases, investor days, and the latest economic data.\n...</p>\n\n<a href=\"https://www.barrons.com/articles/nike-costco-fedex-salesforce-and-other-stocks-for-investors-to-watch-this-week-51632078208?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":{"NKE":"耐克",".SPX":"S&P 500 Index",".DJI":"道琼斯","CRM":"赛富时","COST":"好市多","ADBE":"Adobe","FDX":"联邦快递",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/nike-costco-fedex-salesforce-and-other-stocks-for-investors-to-watch-this-week-51632078208?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194891884","content_text":"The main event this week will be the Federal Reserve’s September policy meeting. Investors will also be watching for several corporate earnings releases, investor days, and the latest economic data.\nLennar reports quarterly earnings on Monday, followed by results from Adobe, AutoZone, and FedEx on Tuesday. General Mills goes on Wednesday, then Nike, Accenture, Costco Wholesale, and Darden Restaurants report on Thursday. Investor days this week include Biogen on Tuesday, Weyerhaeuser on Wednesday, and Salesforce.com on Thursday.\nThe Federal Reserve’s monetary policy committee meets on Tuesday and Wednesday this week. The central bank is unlikely to change its target interest rate range, but could give an update on its plans to begin reducing its monthly asset purchases. Wednesday afternoon’s press conference with Fed chair Jerome Powell will be closely watched.\nEconomic data out this week include the Conference Board’s Leading Economic Index for August on Thursday. There will also be several updates on the U.S. housing market including the National Association of Home Builders’ Housing Market Index for September on Monday, the Census Bureau’s new residential construction data for August on Tuesday, and the National Association of Realtors’ existing-home sales for August on Wednesday.\nMonday 9/20\nLennar reports third-quarter fiscal-2021 results.\nMerck presents data on its portfolio of cancer drugs, in conjunction with the European Society for Medical Oncology’s 2021 Congress.\nThe National Association of Home Builders releases its Housing Market Index for September. Economists forecast a 73 reading, two points below August’s figure, which was the lowest in more than a year.\nTuesday 9/21\nAdobe, AutoZone, and FedEx release earnings.\nBiogen hosts an investor day to discuss its pipeline of neuroscience therapeutics.\nThe Census Bureau reports on new residential construction for August. Consensus estimate is for a seasonally adjusted annual rate of 1.55 million housing starts, 1% higher than the July level. Housing starts are down from their post–financial crisis peak of 1.725 million, reached in March of this year.\nWednesday 9/22\nThe FOMC announces its monetary-policy decision. The Federal Reserve is likely to keep the federal-funds rate unchanged at near zero, but might signal that it will pare its asset purchases later this year.\nGeneral Mills reports first-quarter fiscal-2022 results.\nBoston Scientific,Weyerhaeuser, and Yum China Holdings host their 2021 investor days.\nTheBank of Japan announces its monetary-policy decision. The BOJ is widely expected to keep its key short-term interest rate unchanged at minus 0.1%, as Tokyo and other regions remain in a state of emergency through the end of September due to the Covid-19 Delta variant.\nThe National Association of Realtors reports existing-home sales for August. Expectations are for a seasonally adjusted annual rate of 578,000 homes sold, down 3.5% from July’s 599,000.\nThursday 9/23\nAccenture, Costco Wholesale, Darden Restaurants, and Nike hold conference calls to discuss their quarterly results.\nSalesforce.com holds its 2021 investor day. CEO Marc Benioff and Slack CEO Stewart Butterfield will be among the participants. Salesforce completed its $28 billion acquisition of Slack this summer.\nThe Conference Board releases its Leading Economic Index for August. Economists forecast a 0.5% month-over-month rise, after a 0.9% increase in July. The Conference Board currently projects 6% gross-domestic-product growth for 2021, and 4% for 2022.\nFriday 9/24\nKansas City Southernhosts a special shareholder meeting to vote on a proposed merger withCanadian Pacific Railway.","news_type":1,"symbols_score_info":{".IXIC":0.9,"NKE":0.9,"COST":0.9,".DJI":0.9,"CRM":0.9,"ADBE":0.9,"FDX":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156918296,"gmtCreate":1625190008115,"gmtModify":1703737979046,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156918296","repostId":"2148820668","repostType":4,"repost":{"id":"2148820668","kind":"highlight","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":1625188500,"share":"https://ttm.financial/m/news/2148820668?lang=&edition=fundamental","pubTime":"2021-07-02 09:15","market":"fut","language":"en","title":"Oil price spike would accelerate U.S. shift to electric vehicles: Kemp","url":"https://stock-news.laohu8.com/highlight/detail?id=2148820668","media":"Reuters","summary":"LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel econom","content":"<p>LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel economy in the United States that depends on the extent and expected duration of price changes.</p>\n<p>In general, periods of high and rising oil prices have resulted in consumers opting to buy more smaller, lighter and more fuel-efficient cars and trucks, reducing gasoline consumption growth compared with the previous trend.</p>\n<p>By contrast, periods of low and falling prices have resulted in consumers opting for larger, heavier, more powerful and less fuel-efficient vehicles, increasing gasoline consumption compared with the prior trend.</p>\n<p>The full impact of price changes on fuel consumption is often distributed over several years, across several changes in the economic cycle, which makes attribution and correlations difficult.</p>\n<p>In future, however, higher prices could have a much larger and faster impact on gasoline consumption because full-electric and hybrid vehicles have emerged as a viable alternative to gasoline-fuelled cars and light trucks.</p>\n<p>Gasoline-hybrid, full-electric and other alternative-powered vehicles accounted for 11% of all new vehicles produced in 2020, up from just 3% in 2015, according to the U.S. Environmental Protection Agency <a href=\"https://laohu8.com/S/EPA.AU\">$(EPA.AU)$</a>.</p>\n<p>High and rising prices are likely to accelerate the adoption of hybrid and electric vehicles as consumers attempt to reduce fuel bills and regulators push for a faster transition away from gasoline-fuelled powertrains.</p>\n<p>If oil prices surge again, as they did between 2005 and 2014, the result is likely to be a relatively rapid and permanent loss of consumption in the United States.</p>\n<p>ECONOMY CHOICES</p>\n<p>Vehicle fuel economy is the result of choices made by regulators (who set minimum legal standards); motor manufacturers (who make choices about development, production and marketing of model ranges within the envelop set by regulators); and consumers (who make choices about which models to purchase within available ranges).</p>\n<p>Over the last four decades, consumers have shown a clear preference for larger, heavier and more powerful vehicles, with a long-term trend towards more truck-based rather than car-based platforms.</p>\n<p>Between 1980 and 2020, the share of cars in new vehicles fell from 84% to 43%, while the share of light trucks grew from 16% to 57% (“Automotive trends report”, EPA, January 2021).</p>\n<p>Over the same period, the average weight of new vehicles increased by 949 pounds (29%) and average engine power increased by 143 horsepower (138%) ().</p>\n<p>Motor manufacturers have also generally preferred producing, marketing and selling larger, heavier, more powerful vehicles, and trucks rather than cars, since the profits are higher.</p>\n<p>But within this long-term trend, periods of high and rising oil prices have temporarily shifted the balance from heavier and more powerful vehicles to more fuel-efficient ones, with both short-term and long-term impacts.</p>\n<p>OIL PRICE IMPACT</p>\n<p>High and rising prices encourage greater fuel economy through two channels.</p>\n<p>First, when prices are high, consumers opt for smaller, lighter and more fuel-efficient vehicles within existing ranges. This impact is largely short-term and is quickly reversed if prices fall again.</p>\n<p>Second, high prices encourage regulators tighten fuel-economy standards for future ranges. This impact is long-term, playing out over multiple years, much stickier, and less likely to reverse if prices fall again.</p>\n<p>In contrast to consumers and motor manufacturers, regulators tend to favour greater fuel efficiency for economic, national security and environmental reasons.</p>\n<p>But their willingness to push for tougher fuel economy standards in the face of resistance from consumers and lobbying from manufacturers has largely been a function of prices.</p>\n<p>High and rising prices make regulators more willing to toughen fuel economy standards and consumers and manufacturers more willing to tolerate them.</p>\n<p>HIGH-PRICE DECADE</p>\n<p>The impact of high and rising oil prices on fuel economy was most evident between 2004 and 2014, when prices were well above long-term averages, except for a relatively brief period following the financial crisis in 2008/09.</p>\n<p>The median real price of Brent surged to $105 per barrel between 2005 and 2014, compared with just $40 between 2000 and 2004, and $61 between 2015 and 2021.</p>\n<p>In response, the federal government tightened fuel economy standards several times while consumers attached higher priority to fuel economy.</p>\n<p>From 2005 to about 2014, there was a shift back from trucks towards cars; vehicle weight, which had been increasing, was largely flat; and engine power increased slightly more slowly than before or afterwards.</p>\n<p>As a result, vehicle fuel economy increased at a compound annual rate of 2.25% over the ten high-priced years between 2004 and 2014, after declining 0.55% per year over the previous ten low-priced years from 1994 to 2004.</p>\n<p>U.S. gasoline consumption, which peaked in 2007, did not exceed this level again until 2016, according to the U.S. Energy Information Administration (“Petroleum supply monthly”, EIA, June 2021).</p>\n<p>DELAYED EFFECTS</p>\n<p>In the short term, the impact of oil price changes on whole-fleet fuel economy and gasoline consumption is relatively minor.</p>\n<p>New fuel-economy standards take years to draft and go into effect, new vehicles account for only a small share of the whole fleet, and older vehicles are retired slowly (less than 10% of the fleet turns over each year).</p>\n<p>But the impact of higher prices on fuel economy and gasoline consumption increases over time as new standards go into effect and apply to an increasing share of the fleet.</p>\n<p>The delayed impact of high prices between 2005 and 2014 is still boosting fuel economy and dampening gasoline consumption growth today.</p>\n<p>If prices spike again over the next few years, regulators, manufacturers and consumers are likely to switch to hybrid and all-electric vehicles much faster, resulting in a permanent loss of oil consumption.</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>Oil price spike would accelerate U.S. shift to electric vehicles: Kemp</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\">\nOil price spike would accelerate U.S. shift to electric vehicles: Kemp\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 09:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel economy in the United States that depends on the extent and expected duration of price changes.</p>\n<p>In general, periods of high and rising oil prices have resulted in consumers opting to buy more smaller, lighter and more fuel-efficient cars and trucks, reducing gasoline consumption growth compared with the previous trend.</p>\n<p>By contrast, periods of low and falling prices have resulted in consumers opting for larger, heavier, more powerful and less fuel-efficient vehicles, increasing gasoline consumption compared with the prior trend.</p>\n<p>The full impact of price changes on fuel consumption is often distributed over several years, across several changes in the economic cycle, which makes attribution and correlations difficult.</p>\n<p>In future, however, higher prices could have a much larger and faster impact on gasoline consumption because full-electric and hybrid vehicles have emerged as a viable alternative to gasoline-fuelled cars and light trucks.</p>\n<p>Gasoline-hybrid, full-electric and other alternative-powered vehicles accounted for 11% of all new vehicles produced in 2020, up from just 3% in 2015, according to the U.S. Environmental Protection Agency <a href=\"https://laohu8.com/S/EPA.AU\">$(EPA.AU)$</a>.</p>\n<p>High and rising prices are likely to accelerate the adoption of hybrid and electric vehicles as consumers attempt to reduce fuel bills and regulators push for a faster transition away from gasoline-fuelled powertrains.</p>\n<p>If oil prices surge again, as they did between 2005 and 2014, the result is likely to be a relatively rapid and permanent loss of consumption in the United States.</p>\n<p>ECONOMY CHOICES</p>\n<p>Vehicle fuel economy is the result of choices made by regulators (who set minimum legal standards); motor manufacturers (who make choices about development, production and marketing of model ranges within the envelop set by regulators); and consumers (who make choices about which models to purchase within available ranges).</p>\n<p>Over the last four decades, consumers have shown a clear preference for larger, heavier and more powerful vehicles, with a long-term trend towards more truck-based rather than car-based platforms.</p>\n<p>Between 1980 and 2020, the share of cars in new vehicles fell from 84% to 43%, while the share of light trucks grew from 16% to 57% (“Automotive trends report”, EPA, January 2021).</p>\n<p>Over the same period, the average weight of new vehicles increased by 949 pounds (29%) and average engine power increased by 143 horsepower (138%) ().</p>\n<p>Motor manufacturers have also generally preferred producing, marketing and selling larger, heavier, more powerful vehicles, and trucks rather than cars, since the profits are higher.</p>\n<p>But within this long-term trend, periods of high and rising oil prices have temporarily shifted the balance from heavier and more powerful vehicles to more fuel-efficient ones, with both short-term and long-term impacts.</p>\n<p>OIL PRICE IMPACT</p>\n<p>High and rising prices encourage greater fuel economy through two channels.</p>\n<p>First, when prices are high, consumers opt for smaller, lighter and more fuel-efficient vehicles within existing ranges. This impact is largely short-term and is quickly reversed if prices fall again.</p>\n<p>Second, high prices encourage regulators tighten fuel-economy standards for future ranges. This impact is long-term, playing out over multiple years, much stickier, and less likely to reverse if prices fall again.</p>\n<p>In contrast to consumers and motor manufacturers, regulators tend to favour greater fuel efficiency for economic, national security and environmental reasons.</p>\n<p>But their willingness to push for tougher fuel economy standards in the face of resistance from consumers and lobbying from manufacturers has largely been a function of prices.</p>\n<p>High and rising prices make regulators more willing to toughen fuel economy standards and consumers and manufacturers more willing to tolerate them.</p>\n<p>HIGH-PRICE DECADE</p>\n<p>The impact of high and rising oil prices on fuel economy was most evident between 2004 and 2014, when prices were well above long-term averages, except for a relatively brief period following the financial crisis in 2008/09.</p>\n<p>The median real price of Brent surged to $105 per barrel between 2005 and 2014, compared with just $40 between 2000 and 2004, and $61 between 2015 and 2021.</p>\n<p>In response, the federal government tightened fuel economy standards several times while consumers attached higher priority to fuel economy.</p>\n<p>From 2005 to about 2014, there was a shift back from trucks towards cars; vehicle weight, which had been increasing, was largely flat; and engine power increased slightly more slowly than before or afterwards.</p>\n<p>As a result, vehicle fuel economy increased at a compound annual rate of 2.25% over the ten high-priced years between 2004 and 2014, after declining 0.55% per year over the previous ten low-priced years from 1994 to 2004.</p>\n<p>U.S. gasoline consumption, which peaked in 2007, did not exceed this level again until 2016, according to the U.S. Energy Information Administration (“Petroleum supply monthly”, EIA, June 2021).</p>\n<p>DELAYED EFFECTS</p>\n<p>In the short term, the impact of oil price changes on whole-fleet fuel economy and gasoline consumption is relatively minor.</p>\n<p>New fuel-economy standards take years to draft and go into effect, new vehicles account for only a small share of the whole fleet, and older vehicles are retired slowly (less than 10% of the fleet turns over each year).</p>\n<p>But the impact of higher prices on fuel economy and gasoline consumption increases over time as new standards go into effect and apply to an increasing share of the fleet.</p>\n<p>The delayed impact of high prices between 2005 and 2014 is still boosting fuel economy and dampening gasoline consumption growth today.</p>\n<p>If prices spike again over the next few years, regulators, manufacturers and consumers are likely to switch to hybrid and all-electric vehicles much faster, resulting in a permanent loss of oil consumption.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"USO":"美国原油ETF","SCO":"二倍做空彭博原油指数ETF","DDG":"ProShares做空石油与天然气ETF","UNG":"美国天然气基金","UCO":"二倍做多彭博原油ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","DWT":"三倍做空原油ETN","UGAZ":"三倍做多天然气ETN(VelocityShares)","DGAZ":"三倍做空天然气ETN(VelocityShares)"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148820668","content_text":"LONDON, July 2 (Reuters) - Oil prices have a complex impact on new vehicle purchases and fuel economy in the United States that depends on the extent and expected duration of price changes.\nIn general, periods of high and rising oil prices have resulted in consumers opting to buy more smaller, lighter and more fuel-efficient cars and trucks, reducing gasoline consumption growth compared with the previous trend.\nBy contrast, periods of low and falling prices have resulted in consumers opting for larger, heavier, more powerful and less fuel-efficient vehicles, increasing gasoline consumption compared with the prior trend.\nThe full impact of price changes on fuel consumption is often distributed over several years, across several changes in the economic cycle, which makes attribution and correlations difficult.\nIn future, however, higher prices could have a much larger and faster impact on gasoline consumption because full-electric and hybrid vehicles have emerged as a viable alternative to gasoline-fuelled cars and light trucks.\nGasoline-hybrid, full-electric and other alternative-powered vehicles accounted for 11% of all new vehicles produced in 2020, up from just 3% in 2015, according to the U.S. Environmental Protection Agency $(EPA.AU)$.\nHigh and rising prices are likely to accelerate the adoption of hybrid and electric vehicles as consumers attempt to reduce fuel bills and regulators push for a faster transition away from gasoline-fuelled powertrains.\nIf oil prices surge again, as they did between 2005 and 2014, the result is likely to be a relatively rapid and permanent loss of consumption in the United States.\nECONOMY CHOICES\nVehicle fuel economy is the result of choices made by regulators (who set minimum legal standards); motor manufacturers (who make choices about development, production and marketing of model ranges within the envelop set by regulators); and consumers (who make choices about which models to purchase within available ranges).\nOver the last four decades, consumers have shown a clear preference for larger, heavier and more powerful vehicles, with a long-term trend towards more truck-based rather than car-based platforms.\nBetween 1980 and 2020, the share of cars in new vehicles fell from 84% to 43%, while the share of light trucks grew from 16% to 57% (“Automotive trends report”, EPA, January 2021).\nOver the same period, the average weight of new vehicles increased by 949 pounds (29%) and average engine power increased by 143 horsepower (138%) ().\nMotor manufacturers have also generally preferred producing, marketing and selling larger, heavier, more powerful vehicles, and trucks rather than cars, since the profits are higher.\nBut within this long-term trend, periods of high and rising oil prices have temporarily shifted the balance from heavier and more powerful vehicles to more fuel-efficient ones, with both short-term and long-term impacts.\nOIL PRICE IMPACT\nHigh and rising prices encourage greater fuel economy through two channels.\nFirst, when prices are high, consumers opt for smaller, lighter and more fuel-efficient vehicles within existing ranges. This impact is largely short-term and is quickly reversed if prices fall again.\nSecond, high prices encourage regulators tighten fuel-economy standards for future ranges. This impact is long-term, playing out over multiple years, much stickier, and less likely to reverse if prices fall again.\nIn contrast to consumers and motor manufacturers, regulators tend to favour greater fuel efficiency for economic, national security and environmental reasons.\nBut their willingness to push for tougher fuel economy standards in the face of resistance from consumers and lobbying from manufacturers has largely been a function of prices.\nHigh and rising prices make regulators more willing to toughen fuel economy standards and consumers and manufacturers more willing to tolerate them.\nHIGH-PRICE DECADE\nThe impact of high and rising oil prices on fuel economy was most evident between 2004 and 2014, when prices were well above long-term averages, except for a relatively brief period following the financial crisis in 2008/09.\nThe median real price of Brent surged to $105 per barrel between 2005 and 2014, compared with just $40 between 2000 and 2004, and $61 between 2015 and 2021.\nIn response, the federal government tightened fuel economy standards several times while consumers attached higher priority to fuel economy.\nFrom 2005 to about 2014, there was a shift back from trucks towards cars; vehicle weight, which had been increasing, was largely flat; and engine power increased slightly more slowly than before or afterwards.\nAs a result, vehicle fuel economy increased at a compound annual rate of 2.25% over the ten high-priced years between 2004 and 2014, after declining 0.55% per year over the previous ten low-priced years from 1994 to 2004.\nU.S. gasoline consumption, which peaked in 2007, did not exceed this level again until 2016, according to the U.S. Energy Information Administration (“Petroleum supply monthly”, EIA, June 2021).\nDELAYED EFFECTS\nIn the short term, the impact of oil price changes on whole-fleet fuel economy and gasoline consumption is relatively minor.\nNew fuel-economy standards take years to draft and go into effect, new vehicles account for only a small share of the whole fleet, and older vehicles are retired slowly (less than 10% of the fleet turns over each year).\nBut the impact of higher prices on fuel economy and gasoline consumption increases over time as new standards go into effect and apply to an increasing share of the fleet.\nThe delayed impact of high prices between 2005 and 2014 is still boosting fuel economy and dampening gasoline consumption growth today.\nIf prices spike again over the next few years, regulators, manufacturers and consumers are likely to switch to hybrid and all-electric vehicles much faster, resulting in a permanent loss of oil consumption.","news_type":1,"symbols_score_info":{"NGmain":0.9,"DWT":0.9,"DGAZ":0.9,"DDG":0.9,"SCO":0.9,"USO":0.9,"UNG":0.9,"UCO":0.9,"UGAZ":0.9,"QGmain":0.9,"DUG":0.9,"QMmain":0.9,"CLmain":0.9,"BZmain":0.9,"RBmain":0.9}},"isVote":1,"tweetType":1,"viewCount":604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895751264,"gmtCreate":1628775425858,"gmtModify":1676529850283,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895751264","repostId":"1163871448","repostType":4,"isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808502864,"gmtCreate":1627600055658,"gmtModify":1703492974121,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"When can fly to the ?","listText":"When can fly to the ?","text":"When can fly to the ?","images":[{"img":"https://static.tigerbbs.com/69498e9754f6e98b0e7115fa71404413","width":"1080","height":"3695"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/808502864","isVote":1,"tweetType":1,"viewCount":559,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":177846587,"gmtCreate":1627200543649,"gmtModify":1703485504595,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"No","listText":"No","text":"No","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/177846587","repostId":"2153936352","repostType":4,"isVote":1,"tweetType":1,"viewCount":1096,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154545758,"gmtCreate":1625536240574,"gmtModify":1703743219662,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/154545758","repostId":"1190430616","repostType":4,"isVote":1,"tweetType":1,"viewCount":323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156989553,"gmtCreate":1625190295472,"gmtModify":1703737989118,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"What is this means","listText":"What is this means","text":"What is this means","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156989553","repostId":"2148525822","repostType":4,"repost":{"id":"2148525822","kind":"highlight","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":1625187671,"share":"https://ttm.financial/m/news/2148525822?lang=&edition=fundamental","pubTime":"2021-07-02 09:01","market":"us","language":"en","title":"U.S. Justice Department withdraws from settlement; launches probe of Realtors","url":"https://stock-news.laohu8.com/highlight/detail?id=2148525822","media":"Reuters","summary":"WASHINGTON, July 1 (Reuters) - The U.S. Justice Department said on Thursday it was withdrawing from ","content":"<p>WASHINGTON, July 1 (Reuters) - The U.S. Justice Department said on Thursday it was withdrawing from a settlement with the National Association of Realtors to facilitate a broader investigation of the organization.</p>\n<p>The department and the NAR had reached an agreement, announced in November, that required the organization either to scrap or change rules in order to give prospective home buyers more information about commissions for the brokers who represented them and to eliminate any misrepresentation that the services were free.</p>\n<p>It also was to change rules that allow access to lock boxes only to brokers affiliated with the NAR.</p>\n<p>The settlement would have restricted the Justice Department in pursuing additional probes of the association.</p>\n<p>\"The department is taking this action to permit a broader investigation of NAR's rules and conduct to proceed without restriction,\" the government said in a statement.</p>\n<p>The organization did not immediately respond to a request for comment.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Justice Department withdraws from settlement; launches probe of Realtors</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{ 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}\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Justice Department withdraws from settlement; launches probe of Realtors\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 09:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, July 1 (Reuters) - The U.S. Justice Department said on Thursday it was withdrawing from a settlement with the National Association of Realtors to facilitate a broader investigation of the organization.</p>\n<p>The department and the NAR had reached an agreement, announced in November, that required the organization either to scrap or change rules in order to give prospective home buyers more information about commissions for the brokers who represented them and to eliminate any misrepresentation that the services were free.</p>\n<p>It also was to change rules that allow access to lock boxes only to brokers affiliated with the NAR.</p>\n<p>The settlement would have restricted the Justice Department in pursuing additional probes of the association.</p>\n<p>\"The department is taking this action to permit a broader investigation of NAR's rules and conduct to proceed without restriction,\" the government said in a statement.</p>\n<p>The organization did not immediately respond to a request for comment.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148525822","content_text":"WASHINGTON, July 1 (Reuters) - The U.S. Justice Department said on Thursday it was withdrawing from a settlement with the National Association of Realtors to facilitate a broader investigation of the organization.\nThe department and the NAR had reached an agreement, announced in November, that required the organization either to scrap or change rules in order to give prospective home buyers more information about commissions for the brokers who represented them and to eliminate any misrepresentation that the services were free.\nIt also was to change rules that allow access to lock boxes only to brokers affiliated with the NAR.\nThe settlement would have restricted the Justice Department in pursuing additional probes of the association.\n\"The department is taking this action to permit a broader investigation of NAR's rules and conduct to proceed without restriction,\" the government said in a statement.\nThe organization did not immediately respond to a request for comment.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":455,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860062343,"gmtCreate":1632108672082,"gmtModify":1676530702772,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/5EB.SI\">$CFM HOLDINGS LIMITED(5EB.SI)$</a>Why dropped","listText":"<a href=\"https://laohu8.com/S/5EB.SI\">$CFM HOLDINGS LIMITED(5EB.SI)$</a>Why dropped","text":"$CFM HOLDINGS LIMITED(5EB.SI)$Why dropped","images":[{"img":"https://static.tigerbbs.com/7bffb7233ab187dd0314f813eaf6b592","width":"1080","height":"3323"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/860062343","isVote":1,"tweetType":1,"viewCount":3374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":819828574,"gmtCreate":1630056251998,"gmtModify":1676530212424,"author":{"id":"4087814209928990","authorId":"4087814209928990","name":"KMTEE01","avatar":"https://static.tigerbbs.com/cef64cc21f2b2399d2bb12c10caadcc6","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087814209928990","idStr":"4087814209928990"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a>ii believe you can fly ..... All the way to the moon&nbsp;","listText":"<a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a>ii believe you can fly ..... All the way to the moon&nbsp;","text":"$ContextLogic Inc.(WISH)$ii believe you can fly ..... All the way to the moon","images":[{"img":"https://static.tigerbbs.com/5569803d2f8f4c5d4c5c1c1476600341","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/819828574","isVote":1,"tweetType":1,"viewCount":2369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}