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2021-09-23

??????

Wall St ends higher as Fed signals bond-buying taper soon

2021-09-14

A very sensible read.

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2021-09-10

Defying the odds

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2021-09-01

$SEMBCORP MARINE LTD(S51.SI)$What should I do with you now..??

2021-08-29

Another Wolf of Wall Street.. Amazing how they can pull off feats like that and how long it takes the rest of the world to find out. A good read!

Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers

2021-08-24

//@1moretime:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.

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2021-08-24

Well I think it is subjective and differs from person to person. //@Short:Penny stock is like gambling in a casino. Always fun

Penny Stocks: Why You Should Always Stay Away

2021-08-22

Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.

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2021-08-18

This is serious business!

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2021-08-17

And this means..?

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2021-08-09

Hope they will do a thorough investigation and not just let this fade over time..

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2021-08-08

Wow.. this is a good read.

Wall Street Crime And Punishment: Jordan Belfort, The Boiler Room Wolf

2021-08-02

Nice!

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Go to Tiger App to see more news

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04:51","market":"us","language":"en","title":"Wall St ends higher as Fed signals bond-buying taper soon","url":"https://stock-news.laohu8.com/highlight/detail?id=2169650271","media":"Reuters","summary":"NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors m","content":"<p>NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors mostly took in stride the latest signals from the Federal Reserve, including clearing the way for the central bank to reduce its monthly bond purchases soon.</p>\n<p>The S&amp;P 500 registered its biggest daily percentage gain since July 23.</p>\n<p>While trading was choppy following the Fed's latest policy statement and comments by Fed Chair Jerome Powell, stocks finished close to where they were before the central bank news.</p>\n<p>In its statement, the central bank also suggested interest rate increases may follow more quickly than expected and said overall indicators in the economy \"have continued to strengthen.\"</p>\n<p>Bank shares rose following the Fed news, with the S&amp;P banks index ending up 2.1% on the day, and S&amp;P 500 financials up 1.6% and among the biggest gainers among sectors.</p>\n<p>Some strategists viewed the Fed's comments as mixed.</p>\n<p>\"So they said we're going to probably start to taper, but they haven't said when and haven't said how much, so we're kind of back where we were a day ago,\" said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.</p>\n<p>\"Those remain open questions,\" he said. \"Also, financial conditions remain very easy, and that's part of the reason why markets aren't going crazy at this point.\"</p>\n<p>The Dow Jones Industrial Average rose 338.48 points, or 1%, to 34,258.32, the S&amp;P 500 gained 41.45 points, or 0.95%, to 4,395.64 and the Nasdaq Composite added 150.45 points, or 1.02%, to 14,896.85.</p>\n<p>Apple and other big technology-related names gave the S&amp;P 500 its biggest boost.</p>\n<p>On the downside, FedEx Corp tumbled 9.1% after posting a lower quarterly profit and as the delivery firm cut its full-year earnings forecast.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 3.88-to-1 ratio; on Nasdaq, a 2.38-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted nine new 52-week highs and eight new lows; the Nasdaq Composite recorded 52 new highs and 66 new lows.</p>\n<p>Volume on U.S. exchanges was 9.91 billion shares, compared with the 9.99 billion average for the full session over the last 20 trading days.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St ends higher as Fed signals bond-buying taper soon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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\">\nWall St ends higher as Fed signals bond-buying taper soon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-23 04:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-wall-st-ends-205138667.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors mostly took in stride the latest signals from the Federal Reserve, including clearing the way for the...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-wall-st-ends-205138667.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"标普500反向ETF",".DJI":"道琼斯","FDX":"联邦快递",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500ETF","COMP":"Compass, Inc.",".SPX":"S&P 500 Index","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","OEX":"标普100","IVV":"标普500指数ETF"},"source_url":"https://finance.yahoo.com/news/us-stocks-wall-st-ends-205138667.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2169650271","content_text":"NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors mostly took in stride the latest signals from the Federal Reserve, including clearing the way for the central bank to reduce its monthly bond purchases soon.\nThe S&P 500 registered its biggest daily percentage gain since July 23.\nWhile trading was choppy following the Fed's latest policy statement and comments by Fed Chair Jerome Powell, stocks finished close to where they were before the central bank news.\nIn its statement, the central bank also suggested interest rate increases may follow more quickly than expected and said overall indicators in the economy \"have continued to strengthen.\"\nBank shares rose following the Fed news, with the S&P banks index ending up 2.1% on the day, and S&P 500 financials up 1.6% and among the biggest gainers among sectors.\nSome strategists viewed the Fed's comments as mixed.\n\"So they said we're going to probably start to taper, but they haven't said when and haven't said how much, so we're kind of back where we were a day ago,\" said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.\n\"Those remain open questions,\" he said. \"Also, financial conditions remain very easy, and that's part of the reason why markets aren't going crazy at this point.\"\nThe Dow Jones Industrial Average rose 338.48 points, or 1%, to 34,258.32, the S&P 500 gained 41.45 points, or 0.95%, to 4,395.64 and the Nasdaq Composite added 150.45 points, or 1.02%, to 14,896.85.\nApple and other big technology-related names gave the S&P 500 its biggest boost.\nOn the downside, FedEx Corp tumbled 9.1% after posting a lower quarterly profit and as the delivery firm cut its full-year earnings forecast.\nAdvancing issues outnumbered declining ones on the NYSE by a 3.88-to-1 ratio; on Nasdaq, a 2.38-to-1 ratio favored advancers.\nThe S&P 500 posted nine new 52-week highs and eight new lows; the Nasdaq Composite recorded 52 new highs and 66 new lows.\nVolume on U.S. exchanges was 9.91 billion shares, compared with the 9.99 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886604455,"gmtCreate":1631583589777,"gmtModify":1676530581636,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"A very sensible read.","listText":"A very sensible read.","text":"A very sensible read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/886604455","repostId":"2166303725","repostType":4,"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881006898,"gmtCreate":1631278924614,"gmtModify":1676530516958,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Defying the odds","listText":"Defying the odds","text":"Defying the odds","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/881006898","repostId":"1160544799","repostType":4,"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816041374,"gmtCreate":1630457468798,"gmtModify":1676530307511,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","text":"$SEMBCORP MARINE LTD(S51.SI)$What should I do with you now..??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/816041374","isVote":1,"tweetType":1,"viewCount":1332,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576828470442075","authorId":"3576828470442075","authorIdStr":"3576828470442075","name":"KL8388","avatar":"https://community-static.tradeup.com/news/ad6b167b9d2f4659ab2df27b947eba06","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576828470442075"},"content":"usually will be OK after ex right","text":"usually will be OK after ex right","html":"usually will be OK after ex right"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813269874,"gmtCreate":1630205595998,"gmtModify":1676530243076,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","listText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","text":"Another Wolf of Wall Street.. Amazing how they can pull off feats like that and how long it takes the rest of the world to find out. A good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/813269874","repostId":"1184130616","repostType":4,"repost":{"id":"1184130616","pubTimestamp":1630111537,"share":"https://ttm.financial/m/news/1184130616?lang=&edition=fundamental","pubTime":"2021-08-28 08:45","market":"us","language":"en","title":"Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers","url":"https://stock-news.laohu8.com/highlight/detail?id=1184130616","media":"Benzinga","summary":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the head","content":"<p><i>Does crime pay?</i></p>\n<p>Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,<b>Bernard Ebbers</b>physically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.</p>\n<p>Ebbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”</p>\n<p><b>But ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.</b></p>\n<p><b>A Man In Search Of Himself:</b>&nbsp;Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.</p>\n<p>The Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He&nbsp;attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.</p>\n<p>Ebbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,<b>Linda Pigott,</b>after graduating and landed work teaching science to middle-school students while coaching high school basketball.</p>\n<p>But Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.</p>\n<p>Ebbers’ approach to running a hospitality establishment sometimes bordered on the eccentric.&nbsp;He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.</p>\n<p><b>Calling Out Around The World:</b>Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup of<b>AT&amp;T Inc.'s</b>&nbsp;T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.</p>\n<p>In 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.</p>\n<p>Ebbers and his pals decided to get into the telecommunications business with&nbsp;<b>Long Distance Discount Services,</b>&nbsp;which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.</p>\n<p><b>Carl J. Aycock,</b>a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.</p>\n<p>“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.</p>\n<p>Maybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.</p>\n<p>Within 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in&nbsp;sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.</p>\n<p>Many of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of&nbsp;<b>Advanced Telecommunications Corporation</b>&nbsp;in 1992.</p>\n<p>The unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&amp;T and&nbsp;<b>Sprint Corporation,</b>both considerably larger players in this field.</p>\n<p>The one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to&nbsp;<b>Kristie Webb.</b></p>\n<p>In February 1998, Ebbers’ company launched its acquisition plans for&nbsp;<b>CompuServe</b>&nbsp;from&nbsp;<b>H&amp;R Block Inc</b>.</p>\n<p>This transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition to<b>America Online,</b>while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.</p>\n<p>In September 1998, LDDS WorldCom sealed a $37 billion union with&nbsp;<b>MCI Communications,</b>which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit —&nbsp;except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.</p>\n<p><b>A Little Out Of Touch:</b>One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.</p>\n<p>At the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.</p>\n<p>“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”</p>\n<p>But as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.</p>\n<p>And for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”</p>\n<p>While Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.</p>\n<p><b>In retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw</b>, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.</p>\n<p><b>Detour Off The Cliff:</b>The first cracks in this corporate story began in October 1999 when MCI WorldCom —&nbsp;which had become the second-largest long-distance telephone company in the country —&nbsp;announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.</p>\n<p>With the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.</p>\n<p>Worldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a&nbsp;senior manager ordering&nbsp;a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.</p>\n<p>The company’s chief technical officer,<b>Fred Briggs,</b>then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project —&nbsp;and his directive was shared with other divisions in the company.</p>\n<p>A WorldCom budget analyst named&nbsp;<b>Kim Amigh</b>in the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh —&nbsp;three months after his action, Amigh was abruptly laid off from the company.</p>\n<p>But Vice President of Internal Audit&nbsp;<b>Cynthia Cooper</b>&nbsp;learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 —&nbsp;except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.</p>\n<p>Cooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.</p>\n<p>And Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.</p>\n<p>Adding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.</p>\n<p>To alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000&nbsp;— and then borrowed again&nbsp;and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.</p>\n<p>In June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure&nbsp;later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.</p>\n<p><b>Road’s End:</b>The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.</p>\n<p>Ebbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.</p>\n<p>“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”</p>\n<p>Ebbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.</p>\n<p>He remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.</p>\n<p>After 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.</p>\n<p>In defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.</p>\n<p>Said Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”</p>\n<p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HRB":"H&R布洛克税务"},"source_url":"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184130616","content_text":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.\nEbbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”\nBut ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.\nA Man In Search Of Himself: Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.\nThe Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.\nEbbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,Linda Pigott,after graduating and landed work teaching science to middle-school students while coaching high school basketball.\nBut Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.\nEbbers’ approach to running a hospitality establishment sometimes bordered on the eccentric. He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.\nCalling Out Around The World:Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup ofAT&T Inc.'s T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.\nIn 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.\nEbbers and his pals decided to get into the telecommunications business with Long Distance Discount Services, which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.\nCarl J. Aycock,a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.\n“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.\nMaybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.\nWithin 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.\nMany of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of Advanced Telecommunications Corporation in 1992.\nThe unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&T and Sprint Corporation,both considerably larger players in this field.\nThe one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to Kristie Webb.\nIn February 1998, Ebbers’ company launched its acquisition plans for CompuServe from H&R Block Inc.\nThis transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition toAmerica Online,while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.\nIn September 1998, LDDS WorldCom sealed a $37 billion union with MCI Communications,which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit — except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.\nA Little Out Of Touch:One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.\nAt the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.\n“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”\nBut as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.\nAnd for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”\nWhile Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.\nIn retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.\nDetour Off The Cliff:The first cracks in this corporate story began in October 1999 when MCI WorldCom — which had become the second-largest long-distance telephone company in the country — announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.\nWith the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.\nWorldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a senior manager ordering a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.\nThe company’s chief technical officer,Fred Briggs,then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project — and his directive was shared with other divisions in the company.\nA WorldCom budget analyst named Kim Amighin the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh — three months after his action, Amigh was abruptly laid off from the company.\nBut Vice President of Internal Audit Cynthia Cooper learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 — except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.\nCooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.\nAnd Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.\nAdding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.\nTo alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000 — and then borrowed again and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.\nIn June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.\nRoad’s End:The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.\nEbbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.\n“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”\nEbbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.\nHe remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.\nAfter 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.\nIn defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.\nSaid Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":400,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577347851898435","authorId":"3577347851898435","authorIdStr":"3577347851898435","name":"MarketPulse","avatar":"https://static.tigerbbs.com/d6b16f1b86e7977d1bb375d78b71b51d","crmLevel":5,"crmLevelSwitch":1,"idStr":"3577347851898435"},"content":"Such thing will never end","text":"Such thing will never end","html":"Such thing will never end"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834025878,"gmtCreate":1629763514094,"gmtModify":1676530121890,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/4087890904031420\">@1moretime</a>:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","listText":"//<a href=\"https://laohu8.com/U/4087890904031420\">@1moretime</a>:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","text":"//@1moretime:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834025878","repostId":"1107075259","repostType":4,"isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834022863,"gmtCreate":1629763446852,"gmtModify":1676530121854,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Well I think&nbsp;it is subjective and differs from person to person.&nbsp;//<a href=\"https://laohu8.com/U/4091790236379980\">@Short</a>:Penny stock is like gambling in a casino. Always fun","listText":"Well I think&nbsp;it is subjective and differs from person to person.&nbsp;//<a href=\"https://laohu8.com/U/4091790236379980\">@Short</a>:Penny stock is like gambling in a casino. Always fun","text":"Well I think it is subjective and differs from person to person. //@Short:Penny stock is like gambling in a casino. Always fun","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834022863","repostId":"1172699620","repostType":4,"repost":{"id":"1172699620","pubTimestamp":1629450202,"share":"https://ttm.financial/m/news/1172699620?lang=&edition=fundamental","pubTime":"2021-08-20 17:03","market":"us","language":"en","title":"Penny Stocks: Why You Should Always Stay Away","url":"https://stock-news.laohu8.com/highlight/detail?id=1172699620","media":"Kiplinger","summary":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar","content":"<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p>\n<p>Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p>\n<p>Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p>\n<p>We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p>\n<h3><b>Why Penny Stocks Are So Dangerous</b></h3>\n<p>To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p>\n<p>For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p>\n<p>Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p>\n<p>The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p>\n<p>That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p>\n<p>Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p>\n<p>But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p>\n<p>That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p>\n<p>To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p>\n<h3><b>Legitimate OTCs</b></h3>\n<p>Be that as it may, there is one segment of the OTC market that investors need not fear.</p>\n<p>Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p>\n<p>Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p>\n<p>The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p>\n<p>With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p>\n<p>The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p>\n<p>It’s easy enough to lose money investing in stocks. Why make it easier?</p>","source":"lsy1629449927514","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>Penny Stocks: Why You Should Always Stay Away</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\">\nPenny Stocks: Why You Should Always Stay Away\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-20 17:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away><strong>Kiplinger</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of ...</p>\n\n<a href=\"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IDCBY":"工商银行ADR","TCEHY":"腾讯控股ADR","NTDOY":"任天堂"},"source_url":"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172699620","content_text":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.\nCall them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"\nPlenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”\nWe’ll break down what all that means below, but suffice to say, the SEC is not a fan.\nWhy Penny Stocks Are So Dangerous\nTo be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.\nFor some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”\nTypically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).\nThe SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.\nThat’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.\nPut it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.\nBut that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.\nThat lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see The Wolf of Wall Street?\nTo protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.\nLegitimate OTCs\nBe that as it may, there is one segment of the OTC market that investors need not fear.\nAmidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of The Industrial and Commercial Bank of China Ltd. (IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’sNestlé(NSRGY), the largest food company in the world; China’s Tencent Holding Ltd. (TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant Nintendo Co., Ltd. (NTDOY).\nWhy would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?\nThe reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.\nWith an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.\nThe bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.\nIt’s easy enough to lose money investing in stocks. Why make it easier?","news_type":1},"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832109063,"gmtCreate":1629595858452,"gmtModify":1676530074962,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","listText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","text":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/832109063","repostId":"1107075259","repostType":4,"isVote":1,"tweetType":1,"viewCount":669,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575091423649914","authorId":"3575091423649914","authorIdStr":"3575091423649914","name":"diggydog","avatar":"https://community-static.tradeup.com/news/476e481044aa54d1d955e8bc4b856dd4","crmLevel":7,"crmLevelSwitch":0,"idStr":"3575091423649914"},"content":"You're right","text":"You're right","html":"You're right"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831962377,"gmtCreate":1629280750399,"gmtModify":1676529989622,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"This is serious business!","listText":"This is serious business!","text":"This is serious business!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/831962377","repostId":"1113611040","repostType":4,"isVote":1,"tweetType":1,"viewCount":539,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839242404,"gmtCreate":1629163616608,"gmtModify":1676529949849,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"And this means..?","listText":"And this means..?","text":"And this means..?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/839242404","repostId":"2160273552","repostType":2,"isVote":1,"tweetType":1,"viewCount":133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898134973,"gmtCreate":1628477217292,"gmtModify":1703506695572,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Hope they will do a thorough investigation and not just let this fade over time..","listText":"Hope they will do a thorough investigation and not just let this fade over time..","text":"Hope they will do a thorough investigation and not just let this fade over time..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/898134973","repostId":"1136322726","repostType":4,"isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891538516,"gmtCreate":1628397905935,"gmtModify":1703505854693,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Wow.. this is a good read.","listText":"Wow.. this is a good read.","text":"Wow.. this is a good read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/891538516","repostId":"1119792130","repostType":4,"repost":{"id":"1119792130","pubTimestamp":1628296709,"share":"https://ttm.financial/m/news/1119792130?lang=&edition=fundamental","pubTime":"2021-08-07 08:38","market":"us","language":"en","title":"Wall Street Crime And Punishment: Jordan Belfort, The Boiler Room Wolf","url":"https://stock-news.laohu8.com/highlight/detail?id=1119792130","media":"Benzinga","summary":"Does crime pay?\n“Making money is so easy,” said Jordan Belfort in a 2013 interview withNew Yorkmagaz","content":"<p><i>Does crime pay?</i></p>\n<p>“Making money is so easy,” said&nbsp;<b>Jordan Belfort</b>&nbsp;in a 2013 interview withNew Yorkmagazine. “It really is. It’s not hard to do.”</p>\n<p>Belfort’s breezy pronouncement came as part of the publicity drumming for the release of&nbsp;<b>Martin Scorsese’s</b>&nbsp;film version of Belfort’s autobiography<b>“The Wolf of Wall Street,”</b>which starred&nbsp;<b>Leonardo DiCaprio</b>&nbsp;as Belfort.</p>\n<p>The New York article also featured input from&nbsp;<b>Greg Coleman,</b>the FBI special agent responsible for Belfort’s arrest for fraud and stock market manipulation. From Coleman’s perspective, Belfort wasn't worthy of movie star-level worship.</p>\n<p>“From a moral perspective, he was a reprehensible human being,” Coleman said about Belfort. “Admiration would be the wrong word, but from the perspective of manipulating the market, he’s one of the best there is.”</p>\n<p><b>A Kick In The Teeth:</b>A native of New York City, Belfort was born in 1962 in the Bronx and raised in the Bayside section of Queens. Both of his parents were accountants who stressed the value of education and maturity.</p>\n<p>Belfort received a degree in biology from American University and saw his career path in dentistry. He made money to pursue his dental studies by selling Italian ices on a beach in Queens&nbsp;and enrolled in the University of Maryland School of Dentistry.</p>\n<p>He dropped out after the first day of studies when the dean of the school made the astonishing pronouncement:&nbsp;“The golden age of dentistry is over. If you're here simply because you're looking to make a lot of money, you're in the wrong place.\"</p>\n<p>But what was the right career for making money?</p>\n<p>Belfort returned from his day in dental school and found work as a door-to-door salesman in Long Island, where he sold meat and seafood. He started to grow a business based on this endeavor, but the effort failed to click and he wound up filing for bankruptcy by the time he was 25.</p>\n<p>“I was pretty talented,” he would later recall about this unsuccessful venture. “But the margins were too small.”</p>\n<p>However, a family friend pointed him to a position as a stockbroker broker trainee with the Manhattan-based firm<b>L.F. Rothschild,</b>but he lost that position when the firm experienced financial difficulty after the 1987 stock market crash.</p>\n<p>He took positions with other firms including&nbsp;<b>D.H. Blair</b>&nbsp;and<b>&nbsp;F.D. Roberts Securities and Investors Center</b>&nbsp;—&nbsp;the latter was apenny stockbrokerage shut down in 1989 by the U.S. Securities and Exchange Commission (SEC) one year after Belfort joined its staff.</p>\n<p>Discouraged at working for others in unstable environments, Belfort decided to turn entrepreneur and create his own financial operations,&nbsp;and that’s when the would-be dentist started his career lycanthropy into becoming the&nbsp;<b>Wolf of Wall Street.</b></p>\n<p><b>The Kodak Pitch:</b>In 1989, the 27-year-old Belfort teamed with 23-year-old&nbsp;<b>Kenneth Greene,</b>a fellow Investors Center employee who previously drove one of Belfort’s trucks during his meat selling days.</p>\n<p>The pair opened their own brokerage in a spare office in a Queens car dealership and then arranged to set up a franchise of&nbsp;<b>Stratton Securities,</b>a small broker-dealer operation.</p>\n<p>The duo seemed to strike gold quickly. Within five months of starting their franchise, they accumulated $250,000 and were able to buy Stratton Securities for themselves, renaming it&nbsp;<b>Stratton Oakmont</b>&nbsp;and establishing an operations center in Lake Success, a Long Island town which was best known as the first site of the United Nations headquarters before its Manhattan campus was constructed.</p>\n<p>By 1991, Stratton Oakmont generated $30 million in commissions from a 150-person workforce. Many of his team members were twentysomethings from blue-collar backgrounds eager to make a maximum amount of money in a minimal amount of time.</p>\n<p>Belfort also enjoyed his first brush with fame in 1991 via a profile inForbesthat harshly displayed his virtues and vices. On the plus side, the Forbes coverage offered insight into Belfort’s instruction on teaching his eager young employees the art of cold-calling potential investors.</p>\n<p>Using a technique he dubbed the<b>“Kodak pitch,”</b>Belfort instructed his brokers to begin their telephone spiel with a blue-chip stock such as&nbsp;<b>Eastman Kodak</b>&nbsp;before doing a hard-sell on obscurepenny stocks.</p>\n<p>Belfort also insisted that his brokers refuse to take no for an answer, offering them the mantra<b>“Whip their necks off, don't let ‘em off the phone.”</b></p>\n<p>Belfort’s team took his lessons to heart:&nbsp;Forbes reported they were, on average, earning $85,000 a year.</p>\n<p>Yet Forbes also highlighted Stratton Oakmont’s loosey-goosey approach to ethical operations, noting that the SEC began investigating the brokerage in its first year of operations over questionable sales and trading practices. Indeed, the magazine detailed several examples of pump-and-dump efforts by the Stratton Oakmont team that drove up prices on penny stock shares before selling them at their artificially inflated peak.</p>\n<p>Forbes diplomatically declined to identify Stratton Oakmont as a “boiler room,” but it was obvious what was taking place.</p>\n<p>Noting these antics, along with the SEC’s receipt of customer complaints, Forbes dubbed Belfort as “a kind of twisted Robin Hood who takes from the rich and gives to himself and his merry band of brokers.”&nbsp;Belfort defended his actions, claiming, “We contact high-net-worth investors. I couldn't live with myself if I was calling people who make $50,000 a year, and I'm taking their child's tuition money.”</p>\n<p>Also cited in his media debut was Belfort’s automobile, a&nbsp;<b>$175,000 Ferrari Testarossa.</b>This lavish hedonism was the start of a trend that would shape and then disfigure Belfort’s life.</p>\n<p><b>Ain’t We Got Fun?</b>Besides the SEC, Stratton Oakmont had been under watch by the&nbsp;<b>National Association of Securities Dealers</b>, the forerunner of today’s Financial Industry Regulatory Authority, right after its founding. Yet Stratton Oakmont was not expelled from the NASD until 1996 and Belfort was not indicted for securities fraud until 1999.</p>\n<p>In the years between his Forbes profile and his arrest, Belfort engaged an extravagant form of slow-motion, self-immolation fueled by drug addictions and financed by his pump-and-dump business.</p>\n<p>“I suffered from a disease called ‘more,’ he would lament in retrospect. “No matter how much I had, I wanted more.<b>You don't lose your ethics all at once.</b>It happens very slowly and, almost imperceptibly, you know you're doing things right and one day you step over the line.”</p>\n<p>Well, Belfort certainly went very much over that proverbial line. Financially, he was far ahead of the average American —&nbsp;at the peak of his earning power, he pocketed $50 million per year.</p>\n<p>Belfort’s wealth enabled him to purchase luxury residences and expensive toys that he had a strange habit of destroying, such as&nbsp;a luxury yacht once belonging&nbsp;to&nbsp;iconic designer&nbsp;<b>Coco Chanel</b>&nbsp;which he sank in a storm off the Sardinian coast in 1996;&nbsp;a Mercedes&nbsp;he totaled while driving high on quaaludes; and a helicopter that he somehow crash-landed on the front lawn of one of his mansions.</p>\n<p>The damage he inflicted on his property was mirrored by the insanity&nbsp;his drug habit inflicted on his body. “It was just like coke, coke, coke all day and I was like, ‘Screw you I don't have a problem,’” he would recall, adding, “I was like Al Pacino in ‘Scarface’ with a pile of cocaine. That's what my life had descended to.”</p>\n<p><b>The Inevitable Downfall:</b>Belfort’s luck began to slowly fray by 1994 when he reached an agreement with the SEC that required a lifetime ban from the securities industry. But he circumvented the&nbsp;prohibition by continuing to conduct business through<b>Danny Porush,</b>his right-hand man&nbsp;at Stratton Oakmont.</p>\n<p>Belfort also played fast with the rules in arranging the 1993 initial public offering for childhood friend&nbsp;<b>Steve Madden’s shoe company.</b>Madden would become entangled in Belfort’s schemes, including a deal to secretly buy and sell stock in Stratton deals on behalf of Porush, who was legally limited in trading stocks in those companies, and a secret arrangement to provide Belfort with a majority stake in his company despite the NASD’s severe restrictions on Belfort’s actions.</p>\n<p>Despite evidence of finance chicanery, Belfort’s downfall began with the arrest of his drug dealer, a martial artist named<b>Todd Garrett,</b>who was caught with $200,000 in cash from Belfort and Porush&nbsp;destined to be secretly transported to Switzerland. One year later, a French private banker who worked for a Swiss bank was arrested in Miami as part of a money-laundering scheme. In exchange for a lighter prison sentence, he identified his clients and cited Belfort and Porush.</p>\n<p><b>On Sept.&nbsp;2, 1998, Belfort was arrested for conspiracy to commit money laundering and securities fraud that resulted in 1,513 investors being swindled out of more than $200 million.</b>After a week in custody, Belfort agreed to cut a deal with law enforcement agencies and agreed to wear a wire and record conversations with business associates who were under investigation.</p>\n<p>Belfort’s work as an informant brought dozens of financial professionals and lawyers into prison, but he was not spared from incarceration.&nbsp;Although sentenced to four years in prison in 2003, he only served a 22-month sentence. He was also ordered to pay a $110 million fine.</p>\n<p><b>A Stellar Encore:</b>While serving his prison sentence, Belfort shared a cell with comedian&nbsp;<b>Tommy Chong,</b>who was incarcerated on drug-related charges. Chong encouraged Belfort to write his autobiography. After his release from prison in April 2006, his memoir “The Wolf of Wall Street” was acquired by&nbsp;<b>Random House</b>&nbsp;for $500,000 and became a critically acclaimed best-seller upon its 2007 publication. A second book, “Catching the Wolf of Wall Street,” was published in 2009.</p>\n<p>The film version of “The Wolf of Wall Street” brought Belfort a new degree of pop culture recognition and helped in his post-prison career as&nbsp;<b>a motivational speaker.</b></p>\n<p>These years have not been without controversy. Prosecutors have accused him of failing to compensate the victims of his crimes and pocketing lucrative speaking fees instead of channeling them to his restitution requirements. But the federal government overplayed its hand by accusing him of fleeing to Australia to hide his wealth and avoid paying taxes — Belfort received&nbsp;a public apology for the release of that misinformation.</p>\n<p><b>Belfort filed a $300 million lawsuit against Red Granite,</b>the production company that purchased the film rights to “The Wolf of Wall Street,” after it was exposed that the deal was financed with questionable funds from Malaysia. Belfort insisted he would never have transacted with the company if he was aware of the dirty money that financed its operations.</p>\n<p>Last month, Belfort posted a photo on his Facebook page that found him happily engaged in a poker game on a yacht’s casino table while a half-dozen cuties in bathing suits holding champagne glasses posed behind him. The message that accompanied the photo said,<b>“If you want to be rich, never give up... If you have persistence, you will come out ahead of most people... When you do something, you might fail... Do it differently each time... and one day, you will do it right. Failure is your friend.”</b></p>\n<p>For ex-FBI agent Greg Coleman, Belfort’s phoenix-like rise from the ashes of his own making represented the worst possible conclusion. Coleman&nbsp;considered Belfort’s ability to profit from his swindling and sourly told New York magazine ahead of “The Wolf of Wall Street” film premiere,<b>\"Crime pays.\"</b></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Jordan Belfort, The Boiler Room Wolf</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\">\nWall Street Crime And Punishment: Jordan Belfort, The Boiler Room Wolf\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-07 08:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/08/22341233/wall-street-crime-and-punishment-jordan-belfort-the-boiler-room-wolf><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\n“Making money is so easy,” said Jordan Belfort in a 2013 interview withNew Yorkmagazine. “It really is. It’s not hard to do.”\nBelfort’s breezy pronouncement came as part of the ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22341233/wall-street-crime-and-punishment-jordan-belfort-the-boiler-room-wolf\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/08/22341233/wall-street-crime-and-punishment-jordan-belfort-the-boiler-room-wolf","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119792130","content_text":"Does crime pay?\n“Making money is so easy,” said Jordan Belfort in a 2013 interview withNew Yorkmagazine. “It really is. It’s not hard to do.”\nBelfort’s breezy pronouncement came as part of the publicity drumming for the release of Martin Scorsese’s film version of Belfort’s autobiography“The Wolf of Wall Street,”which starred Leonardo DiCaprio as Belfort.\nThe New York article also featured input from Greg Coleman,the FBI special agent responsible for Belfort’s arrest for fraud and stock market manipulation. From Coleman’s perspective, Belfort wasn't worthy of movie star-level worship.\n“From a moral perspective, he was a reprehensible human being,” Coleman said about Belfort. “Admiration would be the wrong word, but from the perspective of manipulating the market, he’s one of the best there is.”\nA Kick In The Teeth:A native of New York City, Belfort was born in 1962 in the Bronx and raised in the Bayside section of Queens. Both of his parents were accountants who stressed the value of education and maturity.\nBelfort received a degree in biology from American University and saw his career path in dentistry. He made money to pursue his dental studies by selling Italian ices on a beach in Queens and enrolled in the University of Maryland School of Dentistry.\nHe dropped out after the first day of studies when the dean of the school made the astonishing pronouncement: “The golden age of dentistry is over. If you're here simply because you're looking to make a lot of money, you're in the wrong place.\"\nBut what was the right career for making money?\nBelfort returned from his day in dental school and found work as a door-to-door salesman in Long Island, where he sold meat and seafood. He started to grow a business based on this endeavor, but the effort failed to click and he wound up filing for bankruptcy by the time he was 25.\n“I was pretty talented,” he would later recall about this unsuccessful venture. “But the margins were too small.”\nHowever, a family friend pointed him to a position as a stockbroker broker trainee with the Manhattan-based firmL.F. Rothschild,but he lost that position when the firm experienced financial difficulty after the 1987 stock market crash.\nHe took positions with other firms including D.H. Blair and F.D. Roberts Securities and Investors Center — the latter was apenny stockbrokerage shut down in 1989 by the U.S. Securities and Exchange Commission (SEC) one year after Belfort joined its staff.\nDiscouraged at working for others in unstable environments, Belfort decided to turn entrepreneur and create his own financial operations, and that’s when the would-be dentist started his career lycanthropy into becoming the Wolf of Wall Street.\nThe Kodak Pitch:In 1989, the 27-year-old Belfort teamed with 23-year-old Kenneth Greene,a fellow Investors Center employee who previously drove one of Belfort’s trucks during his meat selling days.\nThe pair opened their own brokerage in a spare office in a Queens car dealership and then arranged to set up a franchise of Stratton Securities,a small broker-dealer operation.\nThe duo seemed to strike gold quickly. Within five months of starting their franchise, they accumulated $250,000 and were able to buy Stratton Securities for themselves, renaming it Stratton Oakmont and establishing an operations center in Lake Success, a Long Island town which was best known as the first site of the United Nations headquarters before its Manhattan campus was constructed.\nBy 1991, Stratton Oakmont generated $30 million in commissions from a 150-person workforce. Many of his team members were twentysomethings from blue-collar backgrounds eager to make a maximum amount of money in a minimal amount of time.\nBelfort also enjoyed his first brush with fame in 1991 via a profile inForbesthat harshly displayed his virtues and vices. On the plus side, the Forbes coverage offered insight into Belfort’s instruction on teaching his eager young employees the art of cold-calling potential investors.\nUsing a technique he dubbed the“Kodak pitch,”Belfort instructed his brokers to begin their telephone spiel with a blue-chip stock such as Eastman Kodak before doing a hard-sell on obscurepenny stocks.\nBelfort also insisted that his brokers refuse to take no for an answer, offering them the mantra“Whip their necks off, don't let ‘em off the phone.”\nBelfort’s team took his lessons to heart: Forbes reported they were, on average, earning $85,000 a year.\nYet Forbes also highlighted Stratton Oakmont’s loosey-goosey approach to ethical operations, noting that the SEC began investigating the brokerage in its first year of operations over questionable sales and trading practices. Indeed, the magazine detailed several examples of pump-and-dump efforts by the Stratton Oakmont team that drove up prices on penny stock shares before selling them at their artificially inflated peak.\nForbes diplomatically declined to identify Stratton Oakmont as a “boiler room,” but it was obvious what was taking place.\nNoting these antics, along with the SEC’s receipt of customer complaints, Forbes dubbed Belfort as “a kind of twisted Robin Hood who takes from the rich and gives to himself and his merry band of brokers.” Belfort defended his actions, claiming, “We contact high-net-worth investors. I couldn't live with myself if I was calling people who make $50,000 a year, and I'm taking their child's tuition money.”\nAlso cited in his media debut was Belfort’s automobile, a $175,000 Ferrari Testarossa.This lavish hedonism was the start of a trend that would shape and then disfigure Belfort’s life.\nAin’t We Got Fun?Besides the SEC, Stratton Oakmont had been under watch by the National Association of Securities Dealers, the forerunner of today’s Financial Industry Regulatory Authority, right after its founding. Yet Stratton Oakmont was not expelled from the NASD until 1996 and Belfort was not indicted for securities fraud until 1999.\nIn the years between his Forbes profile and his arrest, Belfort engaged an extravagant form of slow-motion, self-immolation fueled by drug addictions and financed by his pump-and-dump business.\n“I suffered from a disease called ‘more,’ he would lament in retrospect. “No matter how much I had, I wanted more.You don't lose your ethics all at once.It happens very slowly and, almost imperceptibly, you know you're doing things right and one day you step over the line.”\nWell, Belfort certainly went very much over that proverbial line. Financially, he was far ahead of the average American — at the peak of his earning power, he pocketed $50 million per year.\nBelfort’s wealth enabled him to purchase luxury residences and expensive toys that he had a strange habit of destroying, such as a luxury yacht once belonging to iconic designer Coco Chanel which he sank in a storm off the Sardinian coast in 1996; a Mercedes he totaled while driving high on quaaludes; and a helicopter that he somehow crash-landed on the front lawn of one of his mansions.\nThe damage he inflicted on his property was mirrored by the insanity his drug habit inflicted on his body. “It was just like coke, coke, coke all day and I was like, ‘Screw you I don't have a problem,’” he would recall, adding, “I was like Al Pacino in ‘Scarface’ with a pile of cocaine. That's what my life had descended to.”\nThe Inevitable Downfall:Belfort’s luck began to slowly fray by 1994 when he reached an agreement with the SEC that required a lifetime ban from the securities industry. But he circumvented the prohibition by continuing to conduct business throughDanny Porush,his right-hand man at Stratton Oakmont.\nBelfort also played fast with the rules in arranging the 1993 initial public offering for childhood friend Steve Madden’s shoe company.Madden would become entangled in Belfort’s schemes, including a deal to secretly buy and sell stock in Stratton deals on behalf of Porush, who was legally limited in trading stocks in those companies, and a secret arrangement to provide Belfort with a majority stake in his company despite the NASD’s severe restrictions on Belfort’s actions.\nDespite evidence of finance chicanery, Belfort’s downfall began with the arrest of his drug dealer, a martial artist namedTodd Garrett,who was caught with $200,000 in cash from Belfort and Porush destined to be secretly transported to Switzerland. One year later, a French private banker who worked for a Swiss bank was arrested in Miami as part of a money-laundering scheme. In exchange for a lighter prison sentence, he identified his clients and cited Belfort and Porush.\nOn Sept. 2, 1998, Belfort was arrested for conspiracy to commit money laundering and securities fraud that resulted in 1,513 investors being swindled out of more than $200 million.After a week in custody, Belfort agreed to cut a deal with law enforcement agencies and agreed to wear a wire and record conversations with business associates who were under investigation.\nBelfort’s work as an informant brought dozens of financial professionals and lawyers into prison, but he was not spared from incarceration. Although sentenced to four years in prison in 2003, he only served a 22-month sentence. He was also ordered to pay a $110 million fine.\nA Stellar Encore:While serving his prison sentence, Belfort shared a cell with comedian Tommy Chong,who was incarcerated on drug-related charges. Chong encouraged Belfort to write his autobiography. After his release from prison in April 2006, his memoir “The Wolf of Wall Street” was acquired by Random House for $500,000 and became a critically acclaimed best-seller upon its 2007 publication. A second book, “Catching the Wolf of Wall Street,” was published in 2009.\nThe film version of “The Wolf of Wall Street” brought Belfort a new degree of pop culture recognition and helped in his post-prison career as a motivational speaker.\nThese years have not been without controversy. Prosecutors have accused him of failing to compensate the victims of his crimes and pocketing lucrative speaking fees instead of channeling them to his restitution requirements. But the federal government overplayed its hand by accusing him of fleeing to Australia to hide his wealth and avoid paying taxes — Belfort received a public apology for the release of that misinformation.\nBelfort filed a $300 million lawsuit against Red Granite,the production company that purchased the film rights to “The Wolf of Wall Street,” after it was exposed that the deal was financed with questionable funds from Malaysia. Belfort insisted he would never have transacted with the company if he was aware of the dirty money that financed its operations.\nLast month, Belfort posted a photo on his Facebook page that found him happily engaged in a poker game on a yacht’s casino table while a half-dozen cuties in bathing suits holding champagne glasses posed behind him. The message that accompanied the photo said,“If you want to be rich, never give up... If you have persistence, you will come out ahead of most people... When you do something, you might fail... Do it differently each time... and one day, you will do it right. Failure is your friend.”\nFor ex-FBI agent Greg Coleman, Belfort’s phoenix-like rise from the ashes of his own making represented the worst possible conclusion. Coleman considered Belfort’s ability to profit from his swindling and sourly told New York magazine ahead of “The Wolf of Wall Street” film premiere,\"Crime pays.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805273360,"gmtCreate":1627887610950,"gmtModify":1703497225776,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805273360","repostId":"2156169749","repostType":4,"isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":832109063,"gmtCreate":1629595858452,"gmtModify":1676530074962,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","listText":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","text":"Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/832109063","repostId":"1107075259","repostType":4,"repost":{"id":"1107075259","pubTimestamp":1629509852,"share":"https://ttm.financial/m/news/1107075259?lang=&edition=fundamental","pubTime":"2021-08-21 09:37","market":"us","language":"en","title":"Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla","url":"https://stock-news.laohu8.com/highlight/detail?id=1107075259","media":"MarketWatch","summary":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.$Investors$ should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.At $Tesla Motors$’s AI Day late Thursday, self-named Technoking Musk said th","content":"<blockquote>\n <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>\n</blockquote>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p>\n<p>At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p>\n<p>After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p>\n<p>As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p>\n<p>“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p>\n<p>The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p>\n<p>“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p>\n<p>“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p>\n<p>The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p>\n<p>The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p>\n<p>“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p>\n<p>It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p>\n<p>If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p>\n<p>“We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p>\n<p>But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p>\n<p>For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p>\n<p>“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p>\n<p>With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p>\n<p>“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p>\n<p>Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p>","source":"market_watch","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>Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla</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\">\nIgnore Elon Musk’s dancing distraction and face the dangers ahead for Tesla\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-21 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology ...</p>\n\n<a href=\"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107075259","content_text":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.\n\nInvestors should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.\nAt Tesla Motors’s AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”\nAfter a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.\nAs always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.\n“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this Tesla Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.\nThe safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.\nJust a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.\n“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at American University in Washington DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”\n“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.\nThe week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The National Highway Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with Advanced Driver Assistance Systems (ADAS) and tractor-trailers.\nThe latest outcry on Capitol Hill follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.\n“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”\nIt is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”\nIf only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.\n“We basically have to solve real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over one million cars on the road that are collecting data… But I am highly confident that we will get this done.”\nBut for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.\nFor example, Alphabet Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.\n“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of American University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”\nWith FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.\n“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.\nMusk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.","news_type":1},"isVote":1,"tweetType":1,"viewCount":669,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575091423649914","authorId":"3575091423649914","authorIdStr":"3575091423649914","name":"diggydog","avatar":"https://community-static.tradeup.com/news/476e481044aa54d1d955e8bc4b856dd4","crmLevel":7,"crmLevelSwitch":0,"idStr":"3575091423649914"},"content":"You're right","text":"You're right","html":"You're right"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816041374,"gmtCreate":1630457468798,"gmtModify":1676530307511,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","listText":"<a href=\"https://laohu8.com/S/S51.SI\">$SEMBCORP MARINE LTD(S51.SI)$</a>What should I do with you now..??","text":"$SEMBCORP MARINE LTD(S51.SI)$What should I do with you now..??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/816041374","isVote":1,"tweetType":1,"viewCount":1332,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3576828470442075","authorId":"3576828470442075","authorIdStr":"3576828470442075","name":"KL8388","avatar":"https://community-static.tradeup.com/news/ad6b167b9d2f4659ab2df27b947eba06","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576828470442075"},"content":"usually will be OK after ex right","text":"usually will be OK after ex right","html":"usually will be OK after ex right"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813269874,"gmtCreate":1630205595998,"gmtModify":1676530243076,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","listText":"Another Wolf of Wall Street..&nbsp;Amazing how they can pull off feats like that and how long it takes the rest of the&nbsp;world to find out. A good read!","text":"Another Wolf of Wall Street.. Amazing how they can pull off feats like that and how long it takes the rest of the world to find out. A good read!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/813269874","repostId":"1184130616","repostType":4,"repost":{"id":"1184130616","pubTimestamp":1630111537,"share":"https://ttm.financial/m/news/1184130616?lang=&edition=fundamental","pubTime":"2021-08-28 08:45","market":"us","language":"en","title":"Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers","url":"https://stock-news.laohu8.com/highlight/detail?id=1184130616","media":"Benzinga","summary":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the head","content":"<p><i>Does crime pay?</i></p>\n<p>Among the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,<b>Bernard Ebbers</b>physically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.</p>\n<p>Ebbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”</p>\n<p><b>But ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.</b></p>\n<p><b>A Man In Search Of Himself:</b>&nbsp;Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.</p>\n<p>The Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He&nbsp;attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.</p>\n<p>Ebbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,<b>Linda Pigott,</b>after graduating and landed work teaching science to middle-school students while coaching high school basketball.</p>\n<p>But Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.</p>\n<p>Ebbers’ approach to running a hospitality establishment sometimes bordered on the eccentric.&nbsp;He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.</p>\n<p><b>Calling Out Around The World:</b>Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup of<b>AT&amp;T Inc.'s</b>&nbsp;T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.</p>\n<p>In 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.</p>\n<p>Ebbers and his pals decided to get into the telecommunications business with&nbsp;<b>Long Distance Discount Services,</b>&nbsp;which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.</p>\n<p><b>Carl J. Aycock,</b>a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.</p>\n<p>“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.</p>\n<p>Maybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.</p>\n<p>Within 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in&nbsp;sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.</p>\n<p>Many of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of&nbsp;<b>Advanced Telecommunications Corporation</b>&nbsp;in 1992.</p>\n<p>The unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&amp;T and&nbsp;<b>Sprint Corporation,</b>both considerably larger players in this field.</p>\n<p>The one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to&nbsp;<b>Kristie Webb.</b></p>\n<p>In February 1998, Ebbers’ company launched its acquisition plans for&nbsp;<b>CompuServe</b>&nbsp;from&nbsp;<b>H&amp;R Block Inc</b>.</p>\n<p>This transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition to<b>America Online,</b>while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.</p>\n<p>In September 1998, LDDS WorldCom sealed a $37 billion union with&nbsp;<b>MCI Communications,</b>which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit —&nbsp;except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.</p>\n<p><b>A Little Out Of Touch:</b>One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.</p>\n<p>At the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.</p>\n<p>“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”</p>\n<p>But as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.</p>\n<p>And for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”</p>\n<p>While Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.</p>\n<p><b>In retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw</b>, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.</p>\n<p><b>Detour Off The Cliff:</b>The first cracks in this corporate story began in October 1999 when MCI WorldCom —&nbsp;which had become the second-largest long-distance telephone company in the country —&nbsp;announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.</p>\n<p>With the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.</p>\n<p>Worldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a&nbsp;senior manager ordering&nbsp;a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.</p>\n<p>The company’s chief technical officer,<b>Fred Briggs,</b>then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project —&nbsp;and his directive was shared with other divisions in the company.</p>\n<p>A WorldCom budget analyst named&nbsp;<b>Kim Amigh</b>in the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh —&nbsp;three months after his action, Amigh was abruptly laid off from the company.</p>\n<p>But Vice President of Internal Audit&nbsp;<b>Cynthia Cooper</b>&nbsp;learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 —&nbsp;except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.</p>\n<p>Cooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.</p>\n<p>And Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.</p>\n<p>Adding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.</p>\n<p>To alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000&nbsp;— and then borrowed again&nbsp;and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.</p>\n<p>In June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure&nbsp;later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.</p>\n<p><b>Road’s End:</b>The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.</p>\n<p>Ebbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.</p>\n<p>“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”</p>\n<p>Ebbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.</p>\n<p>He remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.</p>\n<p>After 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.</p>\n<p>In defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.</p>\n<p>Said Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”</p>\n<p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Crime And Punishment: Bernard Ebbers And WorldCom's Seriously Wrong Numbers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HRB":"H&R布洛克税务"},"source_url":"https://www.benzinga.com/news/21/08/22680432/wall-street-crime-and-punishment-bernard-ebbers-and-worldcoms-seriously-wrong-numbers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184130616","content_text":"Does crime pay?\nAmong the mightiest of the high-profile corporate executives that dominated the headlines in the 1990s and early 2000s,Bernard Ebbersphysically stood out from his peers — the 6-foot-4 head of WorldCom was dubbed the “telecom cowboy” thanks to his sartorial preference for jeans, cowboy boots and a 10-gallon hat.\nEbbers also stood out from his peers for tightly holding on to Luddite practices as the digital age dawned. He famously refused to communicate with his workforce via email. Even worse, he stood out thanks to a prickly personality that quickly seethed when confronted with unpleasant news. A 2002 profile in The Economist defined him as “parochial, stubborn, preoccupied with penny-pinching … a difficult man to work for.”\nBut ultimately, Ebbers stood out for being at the center of what was (at the time) the largest accounting fraud in U.S. history, which was followed by the harshest prison sentence ever imposed on a corporate executive for financial crimes.\nA Man In Search Of Himself: Bernard John Ebbers was born Aug. 27, 1941, in Edmonton, Alberta, the second of five children. His father John was a traveling salesman and his peripatetic profession brought the family down from Canada into California, where he jettisoned his sales work and became an auto mechanic. The family later relocated to Gallup, New Mexico, where Ebbers’ parents became teachers on the Navajo Nation Indian reservation.\nThe Ebbers clan was back in Canada when Ebbers was a teenager and Bernie (as he was commonly known) came into adulthood unable to determine a course for his life. He attended Canada’s University of Alberta and Michigan’s Calvin College before accepting a basketball scholarship to Mississippi College. But he was the victim of a robbery prior to his senior year that left him seriously injured and switched his attention from playing to coaching the junior varsity team.\nEbbers graduated in 1967 majoring in physical education and minoring in secondary education. He supported himself during his college years by taking on a variety of odd jobs including a bouncer and milk delivery driver. He married his college sweetheart,Linda Pigott,after graduating and landed work teaching science to middle-school students while coaching high school basketball.\nBut Ebbers didn’t stay very long in the school system. When his wife received a job offer as a teacher in another Mississippi town, the couple relocated and he found work managing a garment factory warehouse. By 1974, he tired of working for others and responded to a newspaper advertisement seeking a buyer for a motel in Columbia, Mississippi.\nEbbers’ approach to running a hospitality establishment sometimes bordered on the eccentric. He would distribute bathroom towels at the front desk and require guests to return them to avoid being charged for taking them. Nonetheless, he found a niche in hospitality management and by the early 1980s he owned and operated eight motels within Mississippi and Texas; he also picked up a car dealership that also proved profitable.\nCalling Out Around The World:Ebbers might have remained in the Mississippi hospitality industry had it not been for the 1982 breakup ofAT&T Inc.'s T 0.41%monopoly on the U.S. telephone system. This created a seismic shift in the telecommunications world by enabling other companies to begin reselling long-distance telephone services.\nIn 1983, Ebbers and three friends met at a diner in Hattiesburg, Mississippi, to consider the feasibility of pursuing this newly opened opportunity. Ebbers theorized that having control of his long-distance calling services could benefit his motel business. In the days before mobile phones, guests in lodging establishments in need of long-distance calling would either have to feed handfuls of quarters into payphones or make calls from their rooms, which usually came with extra fees.\nEbbers and his pals decided to get into the telecommunications business with Long Distance Discount Services, which they established in 1985 with headquarters in Jackson, Mississippi, with Ebbers as CEO.\nCarl J. Aycock,a Mississippi financial advisor who was among the early investors in LDDS, would later laugh at the unlikelihood of Ebbers running a telecom company.\n“The only experience Bernie had before operating a long-distance company was he used the phone,” Aycock quipped in a 1997 interview.\nMaybe Ebbers did not possess an encyclopedic knowledge of telecommunications technology, but the good fortune he enjoyed in the motel business transitioned to this unlikely setting. Within four years of its launch, LDDS was being publicly traded.\nWithin 10 years of its opening, LDDS took on an almost Pac Man-style persona of gobbling up telecom firms in sight of the company, acquiring more than 60 different telecommunications company. By 1995, the company renamed itself LDDS WorldCom.\nMany of the company’s acquisitions were on the small side, and the company was never considered a major player in the telecom industry until its $720 million acquisition of Advanced Telecommunications Corporation in 1992.\nThe unlikely acquisition came with Ebbers’ ability to outbid industry titans AT&T and Sprint Corporation,both considerably larger players in this field.\nThe one unfortunate development during this time was the end of Ebbers’ marriage in 1997. He remarried in 1999 to Kristie Webb.\nIn February 1998, Ebbers’ company launched its acquisition plans for CompuServe from H&R Block Inc.\nThis transaction was followed by an astonishing spin of assets: LDDS sold the CompuServe Information Service portion of its acquisition toAmerica Online,while retaining the CompuServe Network Services portion of the business. AOL simultaneously sold LDDS WorldCom its networking division, Advanced Network Services.\nIn September 1998, LDDS WorldCom sealed a $37 billion union with MCI Communications,which created the largest corporate merger in U.S. history. The combined entity became MCI WorldCom, and for Ebbers it seemed that the sky was the limit — except that Ebbers’ ability to soar in the corporate skies resulted in an Icarus-worthy predicament.\nA Little Out Of Touch:One year after the CompuServe and MCI deals, Ebbers’ company boasted an 80,000-person workforce, a market capitalization of roughly $185 billion and its shares were trading at a peak of nearly $62.\nAt the peak of the company’s success, Ebbers granted an interview to The New York Times aboard his 130-yacht, which he berthed in the resort town of Hilton Head, South Carolina. He claimed that the secret of his success was “not as complicated as people make it out to be,” adding that he surrounded himself with experts who advised him on which moves to make.\n“I’m not an engineer by training,” he said. “I’m not an accountant by training. I’m the coach. I’m not the point guard who shoots the ball.”\nBut as the company grew larger, Ebbers penny-pinching behavior during his early motel management days became more extreme. WorldCom executives would later complain that Ebbers stopped providing free coffee within their offices and directed security guards fill the water coolers with tap water.\nAnd for the head of a telecommunications company, Ebbers was curiously distrustful of cutting-edge tech developments. He refused to communicate via email and would not carry a pager or a cell phone. He would explain his actions internally by repeating “That’s the way we did it at LDDS,” and in a 1997 Business Week interview about this behavior he claimed that “when you come to the table with a (physical education) degree like I do, you don't know a lot about the technical stuff.”\nWhile Ebbers’ arms-length distance from personal technology could have been attributed to a zany quirk, there was another problem that couldn’t be happily shrugged away. As the company expanded, operational problems began to permeate the multiple divisions. Ebbers would become impatient or worse when confronted with problems, to the point that he would angrily demand that he only wanted to be addressed with good news.\nIn retrospect, Ebbers’ refusal to acknowledge that his company was growing too fast and too large proved to be a fatal flaw, especially when the corporate culture began to manufacture good news in lieu of reporting problems. As a result, Ebbers’ XL-sized business empire was sustained by taking on massive amounts of debt and highly improper accounting.\nDetour Off The Cliff:The first cracks in this corporate story began in October 1999 when MCI WorldCom — which had become the second-largest long-distance telephone company in the country — announced a $129 billion merger with Sprint, the third-largest telecom carrier. Within nine months of this announcement, the merger was canceled in the face of pressure from U.S. and European regulators who feared a telecom monopoly would be born from this union. MCI WorldCom walked away from the failure by renaming itself as WorldCom.\nWith the rise of the new millennium came the fall of the dot-com industry, and almost any company that had a tech-related aspect found itself taking a financial tumble. When Ebbers’ company tried to cut corners and save money, it turned into an act of self-immolation.\nWorldcom’s network systems engineering division exhausted its annual capital expenditures budget by November 2000, with a senior manager ordering a halt to processing payments for network systems vendors and suppliers until the beginning of 2001.\nThe company’s chief technical officer,Fred Briggs,then ordered all of the labor associated with the capital projects in the network systems division to be booked as an expense rather than a capital project — and his directive was shared with other divisions in the company.\nA WorldCom budget analyst named Kim Amighin the company’s Richardson, Texas, office recognized the legal ramifications of intentionally mischaracterizing capital expenses and lodged a protest against the order. The directive was canceled and so was Amigh — three months after his action, Amigh was abruptly laid off from the company.\nBut Vice President of Internal Audit Cynthia Cooper learned of Amigh’s findings and picked up his trail. Her department began combing through WorldCom’s accounts and found $2 billion that the company claimed in its public filings was spent on capital expenditures during the first three quarters of 2001 — except that the funds were never authorized for that purpose and were clearly operating costs moved into the capital expenditure accounting as a way to make WorldCom look more profitable.\nCooper could not find anyone in the WorldCom leadership ranks to explain the $2 billion discrepancy. Most executives said it was a “prepaid capacity,” a meaningless term which they couldn’t define when pressed by Cooper.\nAnd Cooper was not alone in her suspicions. The U.S. Securities and Exchange Commission could not fathom how WorldCom continued to claim robust profits during the dot-com period while its competitors were operating at a loss, and it sent forth a “Request for Information” to learn the secret of its success.\nAdding to this chaos were Ebbers’ personal financial woes, which became exacerbated during to dot-com crisis by margin calls on his WorldCom shares, which were tanking as the economy plummeted into a recession.\nTo alleviate his monetary pain, Ebbers borrowed $50 million from WorldCom in September 2000 — and then borrowed again and again. By April 2002, Ebbers was $400 million in debt to WorldCom and the board of directors demanded his resignation, which he provided.\nIn June 2002, WorldCom acknowledged its earnings reports contained $3.9 billion in accounting misstatements, with the figure later adjusted to $11 billion. In July 2002, the company declared bankruptcy and was delisted from public trading. Also during that month, Ebbers was called before the U.S. House of Representatives Committee on Financial Services to explain what happened. He pleaded the Fifth Amendment.\nRoad’s End:The efforts to bring Ebbers to trial got off to a weird start when the State of Oklahoma jumped the gun with a 15-count indictment, only to drop its charges in favor of federal prosecution.\nEbbers was indicted in May 2004 on seven counts of filing false statements with securities regulators plus one count each of conspiracy and securities fraud. Ebbers agreed to testify on his behalf, which many observers later considered to be a major mistake because he came across as evasive and unconvincing when insisting WorldCom’s downfall was solely the fault of his subordinates and that he was ignorant about how his company worked.\n“I know what I don’t know,” Ebbers said during his trial. “To this day, I don’t know technology, and I don’t know finance or accounting.”\nEbbers was found guilty on all counts and was sentenced to 25 years in prison, the longest sentence ever handed down in U.S. history for a financial fraud case against a corporate executive.\nHe remained free on bail while fighting to overturn the verdict, but the conviction was upheld in the U.S. Court of Appeals for the Second Circuit in July 2006. Two months later, he drove himself in his luxury Mercedes-Benz to a low-security Louisiana prison to begin his sentence. Two years later, his wife Kristie successfully filed for divorce.\nAfter 13 years behind bars, Ebbers was granted a compassionate release on Dec. 21, 2019, due to a deteriorating state of health that included macular degeneration that left him legally blind, anemia, a weakened heart condition and the beginnings of dementia. He returned to his home in Brookhaven, Mississippi, and passed away on Feb. 2, 2020.\nIn defining his rise to the top, Ebbers harkened back to his basketball days by insisting, “The coach's job is to get the best players and get them to play together.” But in explaining his fall from grace, Ebbers forgot that the core of coaching is accepting responsibility for the team’s performance and he blamed his “best players” for not being able to “play together” while absolving himself from their errors.\nSaid Ebbers when confronted with his ultimate failure as the corporate equivalent of a coach: “I didn't have anything to apologize for.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":400,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577347851898435","authorId":"3577347851898435","authorIdStr":"3577347851898435","name":"MarketPulse","avatar":"https://static.tigerbbs.com/d6b16f1b86e7977d1bb375d78b71b51d","crmLevel":5,"crmLevelSwitch":1,"idStr":"3577347851898435"},"content":"Such thing will never end","text":"Such thing will never end","html":"Such thing will never end"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886604455,"gmtCreate":1631583589777,"gmtModify":1676530581636,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"A very sensible read.","listText":"A very sensible read.","text":"A very sensible read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/886604455","repostId":"2166303725","repostType":4,"repost":{"id":"2166303725","pubTimestamp":1631525820,"share":"https://ttm.financial/m/news/2166303725?lang=&edition=fundamental","pubTime":"2021-09-13 17:37","market":"us","language":"en","title":"4 Investing Strategies to Navigate the Stock Market in 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2166303725","media":"Motley Fool","summary":"There are ways to stay invested for the long term even if you're nervous about what the market will do in the near future.","content":"<p>If you're nervous about the current state of the stock market, you're not alone. After a sustained and rapid rise in stock prices, valuations look as though they may be a bit stretched. Valuations like these have often come before a market crash&nbsp;, which has a lot of investors worried. The big challenge, however, is that while it's easy to predict <i>that </i>a crash will happen, knowing <i>when</i> that crash will take place is a whole different story.</p>\n<p>The best any of us can really do is manage our portfolio around the reality that the market doesn't always go up and that sometimes, it falls fast. You can't successfully invest if you're paralyzed by fear, but you can get yourself better prepared while continuing to put money toward your longer-term future. With that in mind, here are four investing strategies to help you navigate the stock market in 2021.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/569ddedc612d2945c75d861d66230669\" tg-width=\"700\" tg-height=\"343\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<h2>No. 1: Estimate the value of what you own</h2>\n<p>A technique like the discounted cash flow model can help you get a handle on what your stocks are really worth. That model simplifies things to focus on a company's ability to generate cash over time. Based on a reasonable estimate of the cash it will generate and the rate of return you need to take on the risk of investing in its stock, it will help you understand what a fair value is for its shares.</p>\n<p>It's not perfect, as the numbers it generates are based on assumptions about the future. What it can do, though, is help you find a reasonable estimate of that value and recognize the key drivers behind it. That gives you something to compare against the company's actual progress over time and help inform your decisions on what to do with your investment capital.</p>\n<h2>No. 2: Keep an eye on your companies' balance sheets</h2>\n<p>In good times, it's easy to overlook a balance sheet. When times get tough, though, a solid balance sheet can be the difference maker when it comes to a company's ability to stay afloat. This is because its balance sheet represents the company's assets and liabilities -- and most importantly, its ability to access cash if the lending market gets spooked.</p>\n<p>Key measures to look for are the business' current ratio and its debt-to-equity ratio. Its current ratio measures its short-term assets (think cash and things that are usually easily converted into cash) compared to its short-term liabilities like its debt coming due within a year. The higher that number, the less likely the business will be to face a near-term cash crunch.</p>\n<p>A company's debt-to-equity ratio looks at the totality of what it owns compared to what it owes. In this case, the lower the number (as long as it's zero or above), the stronger the balance sheet is. This number can help investors determine how much longer-term flexibility a company has if the debt market were to remain unfavorable for a long time. In addition, the healthier this ratio, the more likely that the company will be able to get new financing even in a fairly tight lending environment.</p>\n<h2>No. 3: Collect your dividends as cash</h2>\n<p>One of the best parts of owning dividend-paying stocks is that their dividends generally get paid based on the health of the underlying company, not the current whims of the stock market. That means that if you own solid, dividend-paying companies, you're likely to get <i>some </i>cash headed your way, even if you don't sell any of your holdings.</p>\n<p>If you let those dividends pile up as cash instead of automatically reinvesting them, then when the market starts offering up bargains (as it often does during crashes), you'll have money available. That can be very useful in keeping you from having to sell one pick to buy another, especially if everything is falling during a generally down market.</p>\n<p>In the event the market <i>doesn't </i>crash, well, those dividends are still as good as any other cash you have access to. You can always include them in an upcoming investment round. After all, by taking them as cash, they stay in your control, instead of being automatically recycled back into the company that's paying them.</p>\n<h2>No. 4: Keep money you'll need in the near term out of stocks</h2>\n<p>Money you know you'll need to spend from your accounts in the next five or so years does not belong in stocks. Neither does cash you should have socked away to handle an emergency that may happen at any time. If you've been a bit lax about following those guidelines, the market being near an all-time high can be a great time to liquidate elevated stocks to buy more conservative assets.</p>\n<p>Being forced to sell stocks when they're down in order to cover your costs is a great way to run out of money. That's why it's <i>always </i>important to have something socked away in cash, investment grade bonds, or other conservative assets like CDs or Treasuries.</p>\n<p>In addition to being able to keep you from having to sell stocks when they're cheap, having some sort of cash buffer can help you psychologically when the market is down. Individuals need long-term investment strategies in order to be successful in stocks over time. It's a lot easier to focus on the long term if you <i>know </i>you don't need the money you have in stocks in the near term. That can be helpful when, not if, the market moves against you.</p>\n<h2>Strategies to help you stay invested, whatever the market does</h2>\n<p>These four investing strategies are designed to help you stay invested, even if the market isn't cooperating. The reality is that if fear spooks you out of the market after a crash and you miss a few of its best days in a rebound, chances are that you'll be worse off than had you stayed invested throughout the mess.</p>\n<p>By helping you get grounded in valuation and balance sheets, you can get more confident in your investments. By managing your dividends well, you can have more control over some of your money, even if the market isn't cooperating. And by keeping your stocks focused on the long term, you can better stomach short-term tough times that the market will throw your way.</p>\n<p>If there's a catch to these strategies, it's this: They tend to work better if you implement them <i>before </i>the market crashes than if you wait until a crash to make them a reality. That makes now a great time to consider putting them in place. So get started now, and be better prepared for any volatility that may come our way.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Investing Strategies to Navigate the Stock Market in 2021</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Investing Strategies to Navigate the Stock Market in 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-13 17:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/12/investing-strategies-navigate-stock-market-2021/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you're nervous about the current state of the stock market, you're not alone. After a sustained and rapid rise in stock prices, valuations look as though they may be a bit stretched. Valuations ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/12/investing-strategies-navigate-stock-market-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.fool.com/investing/2021/09/12/investing-strategies-navigate-stock-market-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2166303725","content_text":"If you're nervous about the current state of the stock market, you're not alone. After a sustained and rapid rise in stock prices, valuations look as though they may be a bit stretched. Valuations like these have often come before a market crash , which has a lot of investors worried. The big challenge, however, is that while it's easy to predict that a crash will happen, knowing when that crash will take place is a whole different story.\nThe best any of us can really do is manage our portfolio around the reality that the market doesn't always go up and that sometimes, it falls fast. You can't successfully invest if you're paralyzed by fear, but you can get yourself better prepared while continuing to put money toward your longer-term future. With that in mind, here are four investing strategies to help you navigate the stock market in 2021.\nImage source: Getty Images.\nNo. 1: Estimate the value of what you own\nA technique like the discounted cash flow model can help you get a handle on what your stocks are really worth. That model simplifies things to focus on a company's ability to generate cash over time. Based on a reasonable estimate of the cash it will generate and the rate of return you need to take on the risk of investing in its stock, it will help you understand what a fair value is for its shares.\nIt's not perfect, as the numbers it generates are based on assumptions about the future. What it can do, though, is help you find a reasonable estimate of that value and recognize the key drivers behind it. That gives you something to compare against the company's actual progress over time and help inform your decisions on what to do with your investment capital.\nNo. 2: Keep an eye on your companies' balance sheets\nIn good times, it's easy to overlook a balance sheet. When times get tough, though, a solid balance sheet can be the difference maker when it comes to a company's ability to stay afloat. This is because its balance sheet represents the company's assets and liabilities -- and most importantly, its ability to access cash if the lending market gets spooked.\nKey measures to look for are the business' current ratio and its debt-to-equity ratio. Its current ratio measures its short-term assets (think cash and things that are usually easily converted into cash) compared to its short-term liabilities like its debt coming due within a year. The higher that number, the less likely the business will be to face a near-term cash crunch.\nA company's debt-to-equity ratio looks at the totality of what it owns compared to what it owes. In this case, the lower the number (as long as it's zero or above), the stronger the balance sheet is. This number can help investors determine how much longer-term flexibility a company has if the debt market were to remain unfavorable for a long time. In addition, the healthier this ratio, the more likely that the company will be able to get new financing even in a fairly tight lending environment.\nNo. 3: Collect your dividends as cash\nOne of the best parts of owning dividend-paying stocks is that their dividends generally get paid based on the health of the underlying company, not the current whims of the stock market. That means that if you own solid, dividend-paying companies, you're likely to get some cash headed your way, even if you don't sell any of your holdings.\nIf you let those dividends pile up as cash instead of automatically reinvesting them, then when the market starts offering up bargains (as it often does during crashes), you'll have money available. That can be very useful in keeping you from having to sell one pick to buy another, especially if everything is falling during a generally down market.\nIn the event the market doesn't crash, well, those dividends are still as good as any other cash you have access to. You can always include them in an upcoming investment round. After all, by taking them as cash, they stay in your control, instead of being automatically recycled back into the company that's paying them.\nNo. 4: Keep money you'll need in the near term out of stocks\nMoney you know you'll need to spend from your accounts in the next five or so years does not belong in stocks. Neither does cash you should have socked away to handle an emergency that may happen at any time. If you've been a bit lax about following those guidelines, the market being near an all-time high can be a great time to liquidate elevated stocks to buy more conservative assets.\nBeing forced to sell stocks when they're down in order to cover your costs is a great way to run out of money. That's why it's always important to have something socked away in cash, investment grade bonds, or other conservative assets like CDs or Treasuries.\nIn addition to being able to keep you from having to sell stocks when they're cheap, having some sort of cash buffer can help you psychologically when the market is down. Individuals need long-term investment strategies in order to be successful in stocks over time. It's a lot easier to focus on the long term if you know you don't need the money you have in stocks in the near term. That can be helpful when, not if, the market moves against you.\nStrategies to help you stay invested, whatever the market does\nThese four investing strategies are designed to help you stay invested, even if the market isn't cooperating. The reality is that if fear spooks you out of the market after a crash and you miss a few of its best days in a rebound, chances are that you'll be worse off than had you stayed invested throughout the mess.\nBy helping you get grounded in valuation and balance sheets, you can get more confident in your investments. By managing your dividends well, you can have more control over some of your money, even if the market isn't cooperating. And by keeping your stocks focused on the long term, you can better stomach short-term tough times that the market will throw your way.\nIf there's a catch to these strategies, it's this: They tend to work better if you implement them before the market crashes than if you wait until a crash to make them a reality. That makes now a great time to consider putting them in place. So get started now, and be better prepared for any volatility that may come our way.","news_type":1},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881006898,"gmtCreate":1631278924614,"gmtModify":1676530516958,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Defying the odds","listText":"Defying the odds","text":"Defying the odds","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/881006898","repostId":"1160544799","repostType":4,"repost":{"id":"1160544799","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":1631275849,"share":"https://ttm.financial/m/news/1160544799?lang=&edition=fundamental","pubTime":"2021-09-10 20:10","market":"us","language":"en","title":"Toplines Before US Market Open on Friday","url":"https://stock-news.laohu8.com/highlight/detail?id=1160544799","media":"Tiger Newspress","summary":"Stock Futures Rise; Metals Rally.\nThe 10-year Treasury yield rose 3bps to 1.320%.\noil was back over ","content":"<ul>\n <li>Stock Futures Rise;&nbsp;Metals Rally.</li>\n <li>The 10-year Treasury yield rose 3bps to 1.320%.</li>\n <li>oil was back over $69 a barrel and gold gained.</li>\n</ul>\n<p>(Sept 10)&nbsp;Stock futures rose sharply on Friday, suggesting Wall Street was prepared to set aside jitters thatculminated in a four-day losing streak, with investors growing more cautious about the COVID-19 pandemic's impact on the economy.</p>\n<p>At 8:13 a.m. ET, Dow E-minis were up 173 points, or 0.50%, S&amp;P 500 E-minis gained 20.75 points, or 0.46% and Nasdaq 100 E-minis jumped 77.75 points, or 0.50%.</p>\n<p><img src=\"https://static.tigerbbs.com/7e6c76200a1c8e7b9888b48085a9cefa\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Here are some of the biggest US pre-movers today:</b></p>\n<ul>\n <li>Affirm Holdings (AFRM) shares rally 24% in&nbsp;premarket&nbsp;trading after its 4Q revenue topped estimates, prompting Truist to hike its PT on the stock.</li>\n <li>Iveric Bio (ISEE), a company working on geographic atrophy treatment, surges 34% after Apellis Pharmaceuticals (APLS) said only one of two late-stage studies of its product candidate pegcetacoplan met its main goal. Apellis slumps 30%.</li>\n <li>Sumo Logic (SUMO) sinks 11% as Piper Sandler downgrades the stock to neutral after reporting second-quarter results.</li>\n</ul>\n<p><b>In FX, </b>dollar trades on the back foot with Bloomberg dollar index down 0.2%. Commodity currencies extend Asia’s outperforming versus G-10 peers. The Bloomberg dollar Spot Index fell as the greenback traded lower against almost all of its Group-of-10 peers. The Treasury curve remains close to the flattest level in a year, signaling the market’s concern a hawkish Federal Reserve will derail growth in the world’s largest economy. The euro inched up amid a broadly weaker dollar, to trade at around $1.1850.<b>The pound brushed off the latest GDP data which showed the U.K. economy barely grew in July.</b>The Australian and New Zealand dollars were among the top G-10 performers as U.S.-China talks spurred hopes of improved relations between the two nations. The yen underperformed all of its Group-of-10 peers, while Norway’s krone gained amid a rally in oil and other commodities.</p>\n<p><b>In rates, </b>Treasuries were off session lows as U.S. trading begins, although under pressure with the curve steeper following gains for risky assets during Asia session and European morning. Yields were higher by 2bp-3bp from 10-year to long end, 10-year by 2.4bp at ~1.32%, wider vs bunds and gilts by 0.8bp and 1.5bp; on curve, 2s10s, 5s30s spreads wider by 2bp and 1bp respectively. The bear-steepening move pushed 30-year yields back toward Thursday’s pre-auction level. Treasuries traded heavy in Asia as local stocks closed higher following a telephone call between U.S. President Joe Biden and Chinese leader Xi Jinping.&nbsp; Among European markets, Germany’s benchmark 10-year government bond yield was flat after the ECB move, but Greek yields fell for the second day as markets continued to view the bank’s cautious approach as a positive. Peripheral spreads widened slightly, with 10y BTP/Bund spread near 104bps.</p>\n<p><b>In commodities, </b>oil gained ground on signs of tight U.S. supplies after Hurricane Ida hit offshore output, with Brent crude up 1.7% at $72.67 a barrel, and U.S. West Texas Intermediate crude at $69.29 a barrel, up 1.7%. Base metals extend the week’s gains: LME aluminum outperforms, adding a further 2%, gaining over 6% since Monday. Spot gold extends Asia’s modest gains to trade either side of $1,800/oz.</p>\n<p>To the day ahead now, and the main data highlight will be the producer price inflation release from the US, whilst from Europe, there’s July data on UK GDP and French and Italian industrial production. From central banks, we’ll hear from ECB President Lagarde, along with the ECB’s Villeroy, Elderson, Rehn, as well as the Fed’s Mester. Lastly, the Central Bank of Russia will be making their latest monetary policy decision.</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>Toplines Before US Market Open on Friday</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\">\nToplines Before US Market Open on Friday\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\">2021-09-10 20:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Stock Futures Rise;&nbsp;Metals Rally.</li>\n <li>The 10-year Treasury yield rose 3bps to 1.320%.</li>\n <li>oil was back over $69 a barrel and gold gained.</li>\n</ul>\n<p>(Sept 10)&nbsp;Stock futures rose sharply on Friday, suggesting Wall Street was prepared to set aside jitters thatculminated in a four-day losing streak, with investors growing more cautious about the COVID-19 pandemic's impact on the economy.</p>\n<p>At 8:13 a.m. ET, Dow E-minis were up 173 points, or 0.50%, S&amp;P 500 E-minis gained 20.75 points, or 0.46% and Nasdaq 100 E-minis jumped 77.75 points, or 0.50%.</p>\n<p><img src=\"https://static.tigerbbs.com/7e6c76200a1c8e7b9888b48085a9cefa\" tg-width=\"1242\" tg-height=\"502\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Here are some of the biggest US pre-movers today:</b></p>\n<ul>\n <li>Affirm Holdings (AFRM) shares rally 24% in&nbsp;premarket&nbsp;trading after its 4Q revenue topped estimates, prompting Truist to hike its PT on the stock.</li>\n <li>Iveric Bio (ISEE), a company working on geographic atrophy treatment, surges 34% after Apellis Pharmaceuticals (APLS) said only one of two late-stage studies of its product candidate pegcetacoplan met its main goal. Apellis slumps 30%.</li>\n <li>Sumo Logic (SUMO) sinks 11% as Piper Sandler downgrades the stock to neutral after reporting second-quarter results.</li>\n</ul>\n<p><b>In FX, </b>dollar trades on the back foot with Bloomberg dollar index down 0.2%. Commodity currencies extend Asia’s outperforming versus G-10 peers. The Bloomberg dollar Spot Index fell as the greenback traded lower against almost all of its Group-of-10 peers. The Treasury curve remains close to the flattest level in a year, signaling the market’s concern a hawkish Federal Reserve will derail growth in the world’s largest economy. The euro inched up amid a broadly weaker dollar, to trade at around $1.1850.<b>The pound brushed off the latest GDP data which showed the U.K. economy barely grew in July.</b>The Australian and New Zealand dollars were among the top G-10 performers as U.S.-China talks spurred hopes of improved relations between the two nations. The yen underperformed all of its Group-of-10 peers, while Norway’s krone gained amid a rally in oil and other commodities.</p>\n<p><b>In rates, </b>Treasuries were off session lows as U.S. trading begins, although under pressure with the curve steeper following gains for risky assets during Asia session and European morning. Yields were higher by 2bp-3bp from 10-year to long end, 10-year by 2.4bp at ~1.32%, wider vs bunds and gilts by 0.8bp and 1.5bp; on curve, 2s10s, 5s30s spreads wider by 2bp and 1bp respectively. The bear-steepening move pushed 30-year yields back toward Thursday’s pre-auction level. Treasuries traded heavy in Asia as local stocks closed higher following a telephone call between U.S. President Joe Biden and Chinese leader Xi Jinping.&nbsp; Among European markets, Germany’s benchmark 10-year government bond yield was flat after the ECB move, but Greek yields fell for the second day as markets continued to view the bank’s cautious approach as a positive. Peripheral spreads widened slightly, with 10y BTP/Bund spread near 104bps.</p>\n<p><b>In commodities, </b>oil gained ground on signs of tight U.S. supplies after Hurricane Ida hit offshore output, with Brent crude up 1.7% at $72.67 a barrel, and U.S. West Texas Intermediate crude at $69.29 a barrel, up 1.7%. Base metals extend the week’s gains: LME aluminum outperforms, adding a further 2%, gaining over 6% since Monday. Spot gold extends Asia’s modest gains to trade either side of $1,800/oz.</p>\n<p>To the day ahead now, and the main data highlight will be the producer price inflation release from the US, whilst from Europe, there’s July data on UK GDP and French and Italian industrial production. From central banks, we’ll hear from ECB President Lagarde, along with the ECB’s Villeroy, Elderson, Rehn, as well as the Fed’s Mester. Lastly, the Central Bank of Russia will be making their latest monetary policy decision.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160544799","content_text":"Stock Futures Rise; Metals Rally.\nThe 10-year Treasury yield rose 3bps to 1.320%.\noil was back over $69 a barrel and gold gained.\n\n(Sept 10) Stock futures rose sharply on Friday, suggesting Wall Street was prepared to set aside jitters thatculminated in a four-day losing streak, with investors growing more cautious about the COVID-19 pandemic's impact on the economy.\nAt 8:13 a.m. ET, Dow E-minis were up 173 points, or 0.50%, S&P 500 E-minis gained 20.75 points, or 0.46% and Nasdaq 100 E-minis jumped 77.75 points, or 0.50%.\n\nHere are some of the biggest US pre-movers today:\n\nAffirm Holdings (AFRM) shares rally 24% in premarket trading after its 4Q revenue topped estimates, prompting Truist to hike its PT on the stock.\nIveric Bio (ISEE), a company working on geographic atrophy treatment, surges 34% after Apellis Pharmaceuticals (APLS) said only one of two late-stage studies of its product candidate pegcetacoplan met its main goal. Apellis slumps 30%.\nSumo Logic (SUMO) sinks 11% as Piper Sandler downgrades the stock to neutral after reporting second-quarter results.\n\nIn FX, dollar trades on the back foot with Bloomberg dollar index down 0.2%. Commodity currencies extend Asia’s outperforming versus G-10 peers. The Bloomberg dollar Spot Index fell as the greenback traded lower against almost all of its Group-of-10 peers. The Treasury curve remains close to the flattest level in a year, signaling the market’s concern a hawkish Federal Reserve will derail growth in the world’s largest economy. The euro inched up amid a broadly weaker dollar, to trade at around $1.1850.The pound brushed off the latest GDP data which showed the U.K. economy barely grew in July.The Australian and New Zealand dollars were among the top G-10 performers as U.S.-China talks spurred hopes of improved relations between the two nations. The yen underperformed all of its Group-of-10 peers, while Norway’s krone gained amid a rally in oil and other commodities.\nIn rates, Treasuries were off session lows as U.S. trading begins, although under pressure with the curve steeper following gains for risky assets during Asia session and European morning. Yields were higher by 2bp-3bp from 10-year to long end, 10-year by 2.4bp at ~1.32%, wider vs bunds and gilts by 0.8bp and 1.5bp; on curve, 2s10s, 5s30s spreads wider by 2bp and 1bp respectively. The bear-steepening move pushed 30-year yields back toward Thursday’s pre-auction level. Treasuries traded heavy in Asia as local stocks closed higher following a telephone call between U.S. President Joe Biden and Chinese leader Xi Jinping.  Among European markets, Germany’s benchmark 10-year government bond yield was flat after the ECB move, but Greek yields fell for the second day as markets continued to view the bank’s cautious approach as a positive. Peripheral spreads widened slightly, with 10y BTP/Bund spread near 104bps.\nIn commodities, oil gained ground on signs of tight U.S. supplies after Hurricane Ida hit offshore output, with Brent crude up 1.7% at $72.67 a barrel, and U.S. West Texas Intermediate crude at $69.29 a barrel, up 1.7%. Base metals extend the week’s gains: LME aluminum outperforms, adding a further 2%, gaining over 6% since Monday. Spot gold extends Asia’s modest gains to trade either side of $1,800/oz.\nTo the day ahead now, and the main data highlight will be the producer price inflation release from the US, whilst from Europe, there’s July data on UK GDP and French and Italian industrial production. From central banks, we’ll hear from ECB President Lagarde, along with the ECB’s Villeroy, Elderson, Rehn, as well as the Fed’s Mester. Lastly, the Central Bank of Russia will be making their latest monetary policy decision.","news_type":1},"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831962377,"gmtCreate":1629280750399,"gmtModify":1676529989622,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"This is serious business!","listText":"This is serious business!","text":"This is serious business!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/831962377","repostId":"1113611040","repostType":4,"repost":{"id":"1113611040","pubTimestamp":1629279317,"share":"https://ttm.financial/m/news/1113611040?lang=&edition=fundamental","pubTime":"2021-08-18 17:35","market":"us","language":"en","title":"Facebook, Google deepen undersea cable system with project in Asia","url":"https://stock-news.laohu8.com/highlight/detail?id=1113611040","media":"Seeking Alpha","summary":"It's time to lay some cables. Facebook and Google (GOOG,GOOGL) are backing two new undersea projects","content":"<ul>\n <li>It's time to lay some cables. <a href=\"https://laohu8.com/S/FB\">Facebook</a> and Google (GOOG,GOOGL) are backing two new undersea projects -one in Africa&nbsp;and the other in Asia. The latest collaboration will give the Silicon Valley giants more control of the internet infrastructure that support their businesses and meet growing demand for broadband access and 5G wireless connectivity. More than 400 commercially operated submarine cables currently lie on the ocean floor, carrying data as pulses of light inside thin optical fibers.</li>\n <li><i>2Africa project:</i>&nbsp;The effort in this region is part of a push to connect the approximately 3.5B people who are still without internet around the world. Facebook's user growth in developed markets like the U.S. and Europe is also slowing, giving it an advantage in Africa, which has an average mobile internet user rate of around 26% (compared to a world average of 51%). The project's plan calls for 35 landings across 26 countries, with the goal of building an underwater ring of fiber optic cables around Africa that would begin operating in 2023.</li>\n <li><i>Apricot:</i>&nbsp;Facebook and Google will also&nbsp;participate&nbsp;in a 7,500-mile-long underwater cable system in Asia that would connect Japan, Taiwan, Guam, the Philippines, Indonesia and Singapore. The initiative is scheduled to go live in 2024 and \"will deliver much-needed internet capacity, redundancy, and reliability to expand connections in the Asia-Pacific region,\" said Facebook engineering manager Nico Roehrich.</li>\n <li><b>Background:</b>&nbsp;Silicon Valley has made a number of recent infrastructure moves into the subsea cable industry. In June, Google announced a new high-speed subsea cable between the U.S. and Argentina, dubbed Firmina, while Facebook and Amazon last week requested approval from the U.S. government for a new undersea data cable between the Philippines and California. In fact, Google now has investments in 18 subsea cables as global investments in the underwater projects are forecast to exceed $2B a year for the next several years.</li>\n <li><b>It's a big business:</b>&nbsp;Telecom operators own many of these cables, charging fees to companies that use them to transfer data. \"If you build your own cable, and you own your capacity, you don't have to pay anybody,\" said Alan Mauldin, an analyst at telecom market research firm TeleGeography. The objective is similar to Amazon's air cargo fleet, which the e-commerce giant started in 2015 to reduce its transportation costs and reliance on third parties.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Facebook, Google deepen undersea cable system with project in Asia</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\">\nFacebook, Google deepen undersea cable system with project in Asia\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-18 17:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3731701-facebook-google-deepen-undersea-cable-system-with-project-in-asia><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It's time to lay some cables. Facebook and Google (GOOG,GOOGL) are backing two new undersea projects -one in Africa and the other in Asia. The latest collaboration will give the Silicon Valley giants ...</p>\n\n<a href=\"https://seekingalpha.com/news/3731701-facebook-google-deepen-undersea-cable-system-with-project-in-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","GOOG":"谷歌"},"source_url":"https://seekingalpha.com/news/3731701-facebook-google-deepen-undersea-cable-system-with-project-in-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113611040","content_text":"It's time to lay some cables. Facebook and Google (GOOG,GOOGL) are backing two new undersea projects -one in Africa and the other in Asia. The latest collaboration will give the Silicon Valley giants more control of the internet infrastructure that support their businesses and meet growing demand for broadband access and 5G wireless connectivity. More than 400 commercially operated submarine cables currently lie on the ocean floor, carrying data as pulses of light inside thin optical fibers.\n2Africa project: The effort in this region is part of a push to connect the approximately 3.5B people who are still without internet around the world. Facebook's user growth in developed markets like the U.S. and Europe is also slowing, giving it an advantage in Africa, which has an average mobile internet user rate of around 26% (compared to a world average of 51%). The project's plan calls for 35 landings across 26 countries, with the goal of building an underwater ring of fiber optic cables around Africa that would begin operating in 2023.\nApricot: Facebook and Google will also participate in a 7,500-mile-long underwater cable system in Asia that would connect Japan, Taiwan, Guam, the Philippines, Indonesia and Singapore. The initiative is scheduled to go live in 2024 and \"will deliver much-needed internet capacity, redundancy, and reliability to expand connections in the Asia-Pacific region,\" said Facebook engineering manager Nico Roehrich.\nBackground: Silicon Valley has made a number of recent infrastructure moves into the subsea cable industry. In June, Google announced a new high-speed subsea cable between the U.S. and Argentina, dubbed Firmina, while Facebook and Amazon last week requested approval from the U.S. government for a new undersea data cable between the Philippines and California. In fact, Google now has investments in 18 subsea cables as global investments in the underwater projects are forecast to exceed $2B a year for the next several years.\nIt's a big business: Telecom operators own many of these cables, charging fees to companies that use them to transfer data. \"If you build your own cable, and you own your capacity, you don't have to pay anybody,\" said Alan Mauldin, an analyst at telecom market research firm TeleGeography. The objective is similar to Amazon's air cargo fleet, which the e-commerce giant started in 2015 to reduce its transportation costs and reliance on third parties.","news_type":1},"isVote":1,"tweetType":1,"viewCount":539,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863956837,"gmtCreate":1632354984329,"gmtModify":1676530759495,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"??????","listText":"??????","text":"??????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/863956837","repostId":"2169650271","repostType":4,"repost":{"id":"2169650271","pubTimestamp":1632343898,"share":"https://ttm.financial/m/news/2169650271?lang=&edition=fundamental","pubTime":"2021-09-23 04:51","market":"us","language":"en","title":"Wall St ends higher as Fed signals bond-buying taper soon","url":"https://stock-news.laohu8.com/highlight/detail?id=2169650271","media":"Reuters","summary":"NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors m","content":"<p>NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors mostly took in stride the latest signals from the Federal Reserve, including clearing the way for the central bank to reduce its monthly bond purchases soon.</p>\n<p>The S&amp;P 500 registered its biggest daily percentage gain since July 23.</p>\n<p>While trading was choppy following the Fed's latest policy statement and comments by Fed Chair Jerome Powell, stocks finished close to where they were before the central bank news.</p>\n<p>In its statement, the central bank also suggested interest rate increases may follow more quickly than expected and said overall indicators in the economy \"have continued to strengthen.\"</p>\n<p>Bank shares rose following the Fed news, with the S&amp;P banks index ending up 2.1% on the day, and S&amp;P 500 financials up 1.6% and among the biggest gainers among sectors.</p>\n<p>Some strategists viewed the Fed's comments as mixed.</p>\n<p>\"So they said we're going to probably start to taper, but they haven't said when and haven't said how much, so we're kind of back where we were a day ago,\" said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.</p>\n<p>\"Those remain open questions,\" he said. \"Also, financial conditions remain very easy, and that's part of the reason why markets aren't going crazy at this point.\"</p>\n<p>The Dow Jones Industrial Average rose 338.48 points, or 1%, to 34,258.32, the S&amp;P 500 gained 41.45 points, or 0.95%, to 4,395.64 and the Nasdaq Composite added 150.45 points, or 1.02%, to 14,896.85.</p>\n<p>Apple and other big technology-related names gave the S&amp;P 500 its biggest boost.</p>\n<p>On the downside, FedEx Corp tumbled 9.1% after posting a lower quarterly profit and as the delivery firm cut its full-year earnings forecast.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 3.88-to-1 ratio; on Nasdaq, a 2.38-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted nine new 52-week highs and eight new lows; the Nasdaq Composite recorded 52 new highs and 66 new lows.</p>\n<p>Volume on U.S. exchanges was 9.91 billion shares, compared with the 9.99 billion average for the full session over the last 20 trading days.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St ends higher as Fed signals bond-buying taper soon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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\">\nWall St ends higher as Fed signals bond-buying taper soon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-23 04:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-wall-st-ends-205138667.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors mostly took in stride the latest signals from the Federal Reserve, including clearing the way for the...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-wall-st-ends-205138667.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SH":"标普500反向ETF",".DJI":"道琼斯","FDX":"联邦快递",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500ETF","COMP":"Compass, Inc.",".SPX":"S&P 500 Index","OEF":"标普100指数ETF-iShares","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","OEX":"标普100","IVV":"标普500指数ETF"},"source_url":"https://finance.yahoo.com/news/us-stocks-wall-st-ends-205138667.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2169650271","content_text":"NEW YORK, Sept 22 (Reuters) - The three major U.S. stock indexes rose 1% on Wednesday as investors mostly took in stride the latest signals from the Federal Reserve, including clearing the way for the central bank to reduce its monthly bond purchases soon.\nThe S&P 500 registered its biggest daily percentage gain since July 23.\nWhile trading was choppy following the Fed's latest policy statement and comments by Fed Chair Jerome Powell, stocks finished close to where they were before the central bank news.\nIn its statement, the central bank also suggested interest rate increases may follow more quickly than expected and said overall indicators in the economy \"have continued to strengthen.\"\nBank shares rose following the Fed news, with the S&P banks index ending up 2.1% on the day, and S&P 500 financials up 1.6% and among the biggest gainers among sectors.\nSome strategists viewed the Fed's comments as mixed.\n\"So they said we're going to probably start to taper, but they haven't said when and haven't said how much, so we're kind of back where we were a day ago,\" said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.\n\"Those remain open questions,\" he said. \"Also, financial conditions remain very easy, and that's part of the reason why markets aren't going crazy at this point.\"\nThe Dow Jones Industrial Average rose 338.48 points, or 1%, to 34,258.32, the S&P 500 gained 41.45 points, or 0.95%, to 4,395.64 and the Nasdaq Composite added 150.45 points, or 1.02%, to 14,896.85.\nApple and other big technology-related names gave the S&P 500 its biggest boost.\nOn the downside, FedEx Corp tumbled 9.1% after posting a lower quarterly profit and as the delivery firm cut its full-year earnings forecast.\nAdvancing issues outnumbered declining ones on the NYSE by a 3.88-to-1 ratio; on Nasdaq, a 2.38-to-1 ratio favored advancers.\nThe S&P 500 posted nine new 52-week highs and eight new lows; the Nasdaq Composite recorded 52 new highs and 66 new lows.\nVolume on U.S. exchanges was 9.91 billion shares, compared with the 9.99 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898134973,"gmtCreate":1628477217292,"gmtModify":1703506695572,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Hope they will do a thorough investigation and not just let this fade over time..","listText":"Hope they will do a thorough investigation and not just let this fade over time..","text":"Hope they will do a thorough investigation and not just let this fade over time..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/898134973","repostId":"1136322726","repostType":4,"isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891538516,"gmtCreate":1628397905935,"gmtModify":1703505854693,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Wow.. this is a good read.","listText":"Wow.. this is a good read.","text":"Wow.. this is a good read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/891538516","repostId":"1119792130","repostType":4,"repost":{"id":"1119792130","pubTimestamp":1628296709,"share":"https://ttm.financial/m/news/1119792130?lang=&edition=fundamental","pubTime":"2021-08-07 08:38","market":"us","language":"en","title":"Wall Street Crime And Punishment: Jordan Belfort, The Boiler Room Wolf","url":"https://stock-news.laohu8.com/highlight/detail?id=1119792130","media":"Benzinga","summary":"Does crime pay?\n“Making money is so easy,” said Jordan Belfort in a 2013 interview withNew Yorkmagaz","content":"<p><i>Does crime pay?</i></p>\n<p>“Making money is so easy,” said&nbsp;<b>Jordan Belfort</b>&nbsp;in a 2013 interview withNew Yorkmagazine. “It really is. It’s not hard to do.”</p>\n<p>Belfort’s breezy pronouncement came as part of the publicity drumming for the release of&nbsp;<b>Martin Scorsese’s</b>&nbsp;film version of Belfort’s autobiography<b>“The Wolf of Wall Street,”</b>which starred&nbsp;<b>Leonardo DiCaprio</b>&nbsp;as Belfort.</p>\n<p>The New York article also featured input from&nbsp;<b>Greg Coleman,</b>the FBI special agent responsible for Belfort’s arrest for fraud and stock market manipulation. From Coleman’s perspective, Belfort wasn't worthy of movie star-level worship.</p>\n<p>“From a moral perspective, he was a reprehensible human being,” Coleman said about Belfort. “Admiration would be the wrong word, but from the perspective of manipulating the market, he’s one of the best there is.”</p>\n<p><b>A Kick In The Teeth:</b>A native of New York City, Belfort was born in 1962 in the Bronx and raised in the Bayside section of Queens. Both of his parents were accountants who stressed the value of education and maturity.</p>\n<p>Belfort received a degree in biology from American University and saw his career path in dentistry. He made money to pursue his dental studies by selling Italian ices on a beach in Queens&nbsp;and enrolled in the University of Maryland School of Dentistry.</p>\n<p>He dropped out after the first day of studies when the dean of the school made the astonishing pronouncement:&nbsp;“The golden age of dentistry is over. If you're here simply because you're looking to make a lot of money, you're in the wrong place.\"</p>\n<p>But what was the right career for making money?</p>\n<p>Belfort returned from his day in dental school and found work as a door-to-door salesman in Long Island, where he sold meat and seafood. He started to grow a business based on this endeavor, but the effort failed to click and he wound up filing for bankruptcy by the time he was 25.</p>\n<p>“I was pretty talented,” he would later recall about this unsuccessful venture. “But the margins were too small.”</p>\n<p>However, a family friend pointed him to a position as a stockbroker broker trainee with the Manhattan-based firm<b>L.F. Rothschild,</b>but he lost that position when the firm experienced financial difficulty after the 1987 stock market crash.</p>\n<p>He took positions with other firms including&nbsp;<b>D.H. Blair</b>&nbsp;and<b>&nbsp;F.D. Roberts Securities and Investors Center</b>&nbsp;—&nbsp;the latter was apenny stockbrokerage shut down in 1989 by the U.S. Securities and Exchange Commission (SEC) one year after Belfort joined its staff.</p>\n<p>Discouraged at working for others in unstable environments, Belfort decided to turn entrepreneur and create his own financial operations,&nbsp;and that’s when the would-be dentist started his career lycanthropy into becoming the&nbsp;<b>Wolf of Wall Street.</b></p>\n<p><b>The Kodak Pitch:</b>In 1989, the 27-year-old Belfort teamed with 23-year-old&nbsp;<b>Kenneth Greene,</b>a fellow Investors Center employee who previously drove one of Belfort’s trucks during his meat selling days.</p>\n<p>The pair opened their own brokerage in a spare office in a Queens car dealership and then arranged to set up a franchise of&nbsp;<b>Stratton Securities,</b>a small broker-dealer operation.</p>\n<p>The duo seemed to strike gold quickly. Within five months of starting their franchise, they accumulated $250,000 and were able to buy Stratton Securities for themselves, renaming it&nbsp;<b>Stratton Oakmont</b>&nbsp;and establishing an operations center in Lake Success, a Long Island town which was best known as the first site of the United Nations headquarters before its Manhattan campus was constructed.</p>\n<p>By 1991, Stratton Oakmont generated $30 million in commissions from a 150-person workforce. Many of his team members were twentysomethings from blue-collar backgrounds eager to make a maximum amount of money in a minimal amount of time.</p>\n<p>Belfort also enjoyed his first brush with fame in 1991 via a profile inForbesthat harshly displayed his virtues and vices. On the plus side, the Forbes coverage offered insight into Belfort’s instruction on teaching his eager young employees the art of cold-calling potential investors.</p>\n<p>Using a technique he dubbed the<b>“Kodak pitch,”</b>Belfort instructed his brokers to begin their telephone spiel with a blue-chip stock such as&nbsp;<b>Eastman Kodak</b>&nbsp;before doing a hard-sell on obscurepenny stocks.</p>\n<p>Belfort also insisted that his brokers refuse to take no for an answer, offering them the mantra<b>“Whip their necks off, don't let ‘em off the phone.”</b></p>\n<p>Belfort’s team took his lessons to heart:&nbsp;Forbes reported they were, on average, earning $85,000 a year.</p>\n<p>Yet Forbes also highlighted Stratton Oakmont’s loosey-goosey approach to ethical operations, noting that the SEC began investigating the brokerage in its first year of operations over questionable sales and trading practices. Indeed, the magazine detailed several examples of pump-and-dump efforts by the Stratton Oakmont team that drove up prices on penny stock shares before selling them at their artificially inflated peak.</p>\n<p>Forbes diplomatically declined to identify Stratton Oakmont as a “boiler room,” but it was obvious what was taking place.</p>\n<p>Noting these antics, along with the SEC’s receipt of customer complaints, Forbes dubbed Belfort as “a kind of twisted Robin Hood who takes from the rich and gives to himself and his merry band of brokers.”&nbsp;Belfort defended his actions, claiming, “We contact high-net-worth investors. I couldn't live with myself if I was calling people who make $50,000 a year, and I'm taking their child's tuition money.”</p>\n<p>Also cited in his media debut was Belfort’s automobile, a&nbsp;<b>$175,000 Ferrari Testarossa.</b>This lavish hedonism was the start of a trend that would shape and then disfigure Belfort’s life.</p>\n<p><b>Ain’t We Got Fun?</b>Besides the SEC, Stratton Oakmont had been under watch by the&nbsp;<b>National Association of Securities Dealers</b>, the forerunner of today’s Financial Industry Regulatory Authority, right after its founding. Yet Stratton Oakmont was not expelled from the NASD until 1996 and Belfort was not indicted for securities fraud until 1999.</p>\n<p>In the years between his Forbes profile and his arrest, Belfort engaged an extravagant form of slow-motion, self-immolation fueled by drug addictions and financed by his pump-and-dump business.</p>\n<p>“I suffered from a disease called ‘more,’ he would lament in retrospect. “No matter how much I had, I wanted more.<b>You don't lose your ethics all at once.</b>It happens very slowly and, almost imperceptibly, you know you're doing things right and one day you step over the line.”</p>\n<p>Well, Belfort certainly went very much over that proverbial line. Financially, he was far ahead of the average American —&nbsp;at the peak of his earning power, he pocketed $50 million per year.</p>\n<p>Belfort’s wealth enabled him to purchase luxury residences and expensive toys that he had a strange habit of destroying, such as&nbsp;a luxury yacht once belonging&nbsp;to&nbsp;iconic designer&nbsp;<b>Coco Chanel</b>&nbsp;which he sank in a storm off the Sardinian coast in 1996;&nbsp;a Mercedes&nbsp;he totaled while driving high on quaaludes; and a helicopter that he somehow crash-landed on the front lawn of one of his mansions.</p>\n<p>The damage he inflicted on his property was mirrored by the insanity&nbsp;his drug habit inflicted on his body. “It was just like coke, coke, coke all day and I was like, ‘Screw you I don't have a problem,’” he would recall, adding, “I was like Al Pacino in ‘Scarface’ with a pile of cocaine. That's what my life had descended to.”</p>\n<p><b>The Inevitable Downfall:</b>Belfort’s luck began to slowly fray by 1994 when he reached an agreement with the SEC that required a lifetime ban from the securities industry. But he circumvented the&nbsp;prohibition by continuing to conduct business through<b>Danny Porush,</b>his right-hand man&nbsp;at Stratton Oakmont.</p>\n<p>Belfort also played fast with the rules in arranging the 1993 initial public offering for childhood friend&nbsp;<b>Steve Madden’s shoe company.</b>Madden would become entangled in Belfort’s schemes, including a deal to secretly buy and sell stock in Stratton deals on behalf of Porush, who was legally limited in trading stocks in those companies, and a secret arrangement to provide Belfort with a majority stake in his company despite the NASD’s severe restrictions on Belfort’s actions.</p>\n<p>Despite evidence of finance chicanery, Belfort’s downfall began with the arrest of his drug dealer, a martial artist named<b>Todd Garrett,</b>who was caught with $200,000 in cash from Belfort and Porush&nbsp;destined to be secretly transported to Switzerland. One year later, a French private banker who worked for a Swiss bank was arrested in Miami as part of a money-laundering scheme. In exchange for a lighter prison sentence, he identified his clients and cited Belfort and Porush.</p>\n<p><b>On Sept.&nbsp;2, 1998, Belfort was arrested for conspiracy to commit money laundering and securities fraud that resulted in 1,513 investors being swindled out of more than $200 million.</b>After a week in custody, Belfort agreed to cut a deal with law enforcement agencies and agreed to wear a wire and record conversations with business associates who were under investigation.</p>\n<p>Belfort’s work as an informant brought dozens of financial professionals and lawyers into prison, but he was not spared from incarceration.&nbsp;Although sentenced to four years in prison in 2003, he only served a 22-month sentence. He was also ordered to pay a $110 million fine.</p>\n<p><b>A Stellar Encore:</b>While serving his prison sentence, Belfort shared a cell with comedian&nbsp;<b>Tommy Chong,</b>who was incarcerated on drug-related charges. Chong encouraged Belfort to write his autobiography. After his release from prison in April 2006, his memoir “The Wolf of Wall Street” was acquired by&nbsp;<b>Random House</b>&nbsp;for $500,000 and became a critically acclaimed best-seller upon its 2007 publication. A second book, “Catching the Wolf of Wall Street,” was published in 2009.</p>\n<p>The film version of “The Wolf of Wall Street” brought Belfort a new degree of pop culture recognition and helped in his post-prison career as&nbsp;<b>a motivational speaker.</b></p>\n<p>These years have not been without controversy. Prosecutors have accused him of failing to compensate the victims of his crimes and pocketing lucrative speaking fees instead of channeling them to his restitution requirements. But the federal government overplayed its hand by accusing him of fleeing to Australia to hide his wealth and avoid paying taxes — Belfort received&nbsp;a public apology for the release of that misinformation.</p>\n<p><b>Belfort filed a $300 million lawsuit against Red Granite,</b>the production company that purchased the film rights to “The Wolf of Wall Street,” after it was exposed that the deal was financed with questionable funds from Malaysia. Belfort insisted he would never have transacted with the company if he was aware of the dirty money that financed its operations.</p>\n<p>Last month, Belfort posted a photo on his Facebook page that found him happily engaged in a poker game on a yacht’s casino table while a half-dozen cuties in bathing suits holding champagne glasses posed behind him. The message that accompanied the photo said,<b>“If you want to be rich, never give up... If you have persistence, you will come out ahead of most people... When you do something, you might fail... Do it differently each time... and one day, you will do it right. Failure is your friend.”</b></p>\n<p>For ex-FBI agent Greg Coleman, Belfort’s phoenix-like rise from the ashes of his own making represented the worst possible conclusion. Coleman&nbsp;considered Belfort’s ability to profit from his swindling and sourly told New York magazine ahead of “The Wolf of Wall Street” film premiere,<b>\"Crime pays.\"</b></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Crime And Punishment: Jordan Belfort, The Boiler Room Wolf</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\">\nWall Street Crime And Punishment: Jordan Belfort, The Boiler Room Wolf\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-07 08:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/21/08/22341233/wall-street-crime-and-punishment-jordan-belfort-the-boiler-room-wolf><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\n“Making money is so easy,” said Jordan Belfort in a 2013 interview withNew Yorkmagazine. “It really is. It’s not hard to do.”\nBelfort’s breezy pronouncement came as part of the ...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22341233/wall-street-crime-and-punishment-jordan-belfort-the-boiler-room-wolf\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/08/22341233/wall-street-crime-and-punishment-jordan-belfort-the-boiler-room-wolf","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119792130","content_text":"Does crime pay?\n“Making money is so easy,” said Jordan Belfort in a 2013 interview withNew Yorkmagazine. “It really is. It’s not hard to do.”\nBelfort’s breezy pronouncement came as part of the publicity drumming for the release of Martin Scorsese’s film version of Belfort’s autobiography“The Wolf of Wall Street,”which starred Leonardo DiCaprio as Belfort.\nThe New York article also featured input from Greg Coleman,the FBI special agent responsible for Belfort’s arrest for fraud and stock market manipulation. From Coleman’s perspective, Belfort wasn't worthy of movie star-level worship.\n“From a moral perspective, he was a reprehensible human being,” Coleman said about Belfort. “Admiration would be the wrong word, but from the perspective of manipulating the market, he’s one of the best there is.”\nA Kick In The Teeth:A native of New York City, Belfort was born in 1962 in the Bronx and raised in the Bayside section of Queens. Both of his parents were accountants who stressed the value of education and maturity.\nBelfort received a degree in biology from American University and saw his career path in dentistry. He made money to pursue his dental studies by selling Italian ices on a beach in Queens and enrolled in the University of Maryland School of Dentistry.\nHe dropped out after the first day of studies when the dean of the school made the astonishing pronouncement: “The golden age of dentistry is over. If you're here simply because you're looking to make a lot of money, you're in the wrong place.\"\nBut what was the right career for making money?\nBelfort returned from his day in dental school and found work as a door-to-door salesman in Long Island, where he sold meat and seafood. He started to grow a business based on this endeavor, but the effort failed to click and he wound up filing for bankruptcy by the time he was 25.\n“I was pretty talented,” he would later recall about this unsuccessful venture. “But the margins were too small.”\nHowever, a family friend pointed him to a position as a stockbroker broker trainee with the Manhattan-based firmL.F. Rothschild,but he lost that position when the firm experienced financial difficulty after the 1987 stock market crash.\nHe took positions with other firms including D.H. Blair and F.D. Roberts Securities and Investors Center — the latter was apenny stockbrokerage shut down in 1989 by the U.S. Securities and Exchange Commission (SEC) one year after Belfort joined its staff.\nDiscouraged at working for others in unstable environments, Belfort decided to turn entrepreneur and create his own financial operations, and that’s when the would-be dentist started his career lycanthropy into becoming the Wolf of Wall Street.\nThe Kodak Pitch:In 1989, the 27-year-old Belfort teamed with 23-year-old Kenneth Greene,a fellow Investors Center employee who previously drove one of Belfort’s trucks during his meat selling days.\nThe pair opened their own brokerage in a spare office in a Queens car dealership and then arranged to set up a franchise of Stratton Securities,a small broker-dealer operation.\nThe duo seemed to strike gold quickly. Within five months of starting their franchise, they accumulated $250,000 and were able to buy Stratton Securities for themselves, renaming it Stratton Oakmont and establishing an operations center in Lake Success, a Long Island town which was best known as the first site of the United Nations headquarters before its Manhattan campus was constructed.\nBy 1991, Stratton Oakmont generated $30 million in commissions from a 150-person workforce. Many of his team members were twentysomethings from blue-collar backgrounds eager to make a maximum amount of money in a minimal amount of time.\nBelfort also enjoyed his first brush with fame in 1991 via a profile inForbesthat harshly displayed his virtues and vices. On the plus side, the Forbes coverage offered insight into Belfort’s instruction on teaching his eager young employees the art of cold-calling potential investors.\nUsing a technique he dubbed the“Kodak pitch,”Belfort instructed his brokers to begin their telephone spiel with a blue-chip stock such as Eastman Kodak before doing a hard-sell on obscurepenny stocks.\nBelfort also insisted that his brokers refuse to take no for an answer, offering them the mantra“Whip their necks off, don't let ‘em off the phone.”\nBelfort’s team took his lessons to heart: Forbes reported they were, on average, earning $85,000 a year.\nYet Forbes also highlighted Stratton Oakmont’s loosey-goosey approach to ethical operations, noting that the SEC began investigating the brokerage in its first year of operations over questionable sales and trading practices. Indeed, the magazine detailed several examples of pump-and-dump efforts by the Stratton Oakmont team that drove up prices on penny stock shares before selling them at their artificially inflated peak.\nForbes diplomatically declined to identify Stratton Oakmont as a “boiler room,” but it was obvious what was taking place.\nNoting these antics, along with the SEC’s receipt of customer complaints, Forbes dubbed Belfort as “a kind of twisted Robin Hood who takes from the rich and gives to himself and his merry band of brokers.” Belfort defended his actions, claiming, “We contact high-net-worth investors. I couldn't live with myself if I was calling people who make $50,000 a year, and I'm taking their child's tuition money.”\nAlso cited in his media debut was Belfort’s automobile, a $175,000 Ferrari Testarossa.This lavish hedonism was the start of a trend that would shape and then disfigure Belfort’s life.\nAin’t We Got Fun?Besides the SEC, Stratton Oakmont had been under watch by the National Association of Securities Dealers, the forerunner of today’s Financial Industry Regulatory Authority, right after its founding. Yet Stratton Oakmont was not expelled from the NASD until 1996 and Belfort was not indicted for securities fraud until 1999.\nIn the years between his Forbes profile and his arrest, Belfort engaged an extravagant form of slow-motion, self-immolation fueled by drug addictions and financed by his pump-and-dump business.\n“I suffered from a disease called ‘more,’ he would lament in retrospect. “No matter how much I had, I wanted more.You don't lose your ethics all at once.It happens very slowly and, almost imperceptibly, you know you're doing things right and one day you step over the line.”\nWell, Belfort certainly went very much over that proverbial line. Financially, he was far ahead of the average American — at the peak of his earning power, he pocketed $50 million per year.\nBelfort’s wealth enabled him to purchase luxury residences and expensive toys that he had a strange habit of destroying, such as a luxury yacht once belonging to iconic designer Coco Chanel which he sank in a storm off the Sardinian coast in 1996; a Mercedes he totaled while driving high on quaaludes; and a helicopter that he somehow crash-landed on the front lawn of one of his mansions.\nThe damage he inflicted on his property was mirrored by the insanity his drug habit inflicted on his body. “It was just like coke, coke, coke all day and I was like, ‘Screw you I don't have a problem,’” he would recall, adding, “I was like Al Pacino in ‘Scarface’ with a pile of cocaine. That's what my life had descended to.”\nThe Inevitable Downfall:Belfort’s luck began to slowly fray by 1994 when he reached an agreement with the SEC that required a lifetime ban from the securities industry. But he circumvented the prohibition by continuing to conduct business throughDanny Porush,his right-hand man at Stratton Oakmont.\nBelfort also played fast with the rules in arranging the 1993 initial public offering for childhood friend Steve Madden’s shoe company.Madden would become entangled in Belfort’s schemes, including a deal to secretly buy and sell stock in Stratton deals on behalf of Porush, who was legally limited in trading stocks in those companies, and a secret arrangement to provide Belfort with a majority stake in his company despite the NASD’s severe restrictions on Belfort’s actions.\nDespite evidence of finance chicanery, Belfort’s downfall began with the arrest of his drug dealer, a martial artist namedTodd Garrett,who was caught with $200,000 in cash from Belfort and Porush destined to be secretly transported to Switzerland. One year later, a French private banker who worked for a Swiss bank was arrested in Miami as part of a money-laundering scheme. In exchange for a lighter prison sentence, he identified his clients and cited Belfort and Porush.\nOn Sept. 2, 1998, Belfort was arrested for conspiracy to commit money laundering and securities fraud that resulted in 1,513 investors being swindled out of more than $200 million.After a week in custody, Belfort agreed to cut a deal with law enforcement agencies and agreed to wear a wire and record conversations with business associates who were under investigation.\nBelfort’s work as an informant brought dozens of financial professionals and lawyers into prison, but he was not spared from incarceration. Although sentenced to four years in prison in 2003, he only served a 22-month sentence. He was also ordered to pay a $110 million fine.\nA Stellar Encore:While serving his prison sentence, Belfort shared a cell with comedian Tommy Chong,who was incarcerated on drug-related charges. Chong encouraged Belfort to write his autobiography. After his release from prison in April 2006, his memoir “The Wolf of Wall Street” was acquired by Random House for $500,000 and became a critically acclaimed best-seller upon its 2007 publication. A second book, “Catching the Wolf of Wall Street,” was published in 2009.\nThe film version of “The Wolf of Wall Street” brought Belfort a new degree of pop culture recognition and helped in his post-prison career as a motivational speaker.\nThese years have not been without controversy. Prosecutors have accused him of failing to compensate the victims of his crimes and pocketing lucrative speaking fees instead of channeling them to his restitution requirements. But the federal government overplayed its hand by accusing him of fleeing to Australia to hide his wealth and avoid paying taxes — Belfort received a public apology for the release of that misinformation.\nBelfort filed a $300 million lawsuit against Red Granite,the production company that purchased the film rights to “The Wolf of Wall Street,” after it was exposed that the deal was financed with questionable funds from Malaysia. Belfort insisted he would never have transacted with the company if he was aware of the dirty money that financed its operations.\nLast month, Belfort posted a photo on his Facebook page that found him happily engaged in a poker game on a yacht’s casino table while a half-dozen cuties in bathing suits holding champagne glasses posed behind him. The message that accompanied the photo said,“If you want to be rich, never give up... If you have persistence, you will come out ahead of most people... When you do something, you might fail... Do it differently each time... and one day, you will do it right. Failure is your friend.”\nFor ex-FBI agent Greg Coleman, Belfort’s phoenix-like rise from the ashes of his own making represented the worst possible conclusion. Coleman considered Belfort’s ability to profit from his swindling and sourly told New York magazine ahead of “The Wolf of Wall Street” film premiere,\"Crime pays.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839242404,"gmtCreate":1629163616608,"gmtModify":1676529949849,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"And this means..?","listText":"And this means..?","text":"And this means..?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/839242404","repostId":"2160273552","repostType":2,"repost":{"id":"2160273552","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":"1086160438","head_image":"https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5"},"pubTimestamp":1629151982,"share":"https://ttm.financial/m/news/2160273552?lang=&edition=fundamental","pubTime":"2021-08-17 06:13","market":"us","language":"en","title":"Pfizer Files Pricing Of Term Sheet Related To Offering Of $1 Billion 1.750% Notes Due 2031","url":"https://stock-news.laohu8.com/highlight/detail?id=2160273552","media":"Reuters","summary":"Pfizer Inc :Pfizer Files Pricing Of Term Sheet Related To Offering Of $1 Billion 1.750% Notes Due 20","content":"<html><body><p>Pfizer Inc <pfe.n>:Pfizer Files Pricing Of Term Sheet Related To Offering Of $1 Billion 1.750% Notes Due 2031 - Sec Filing.</pfe.n></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pfizer Files Pricing Of Term Sheet Related To Offering Of $1 Billion 1.750% Notes Due 2031</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\">\nPfizer Files Pricing Of Term Sheet Related To Offering Of $1 Billion 1.750% Notes Due 2031\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086160438\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-08-17 06:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>Pfizer Inc <pfe.n>:Pfizer Files Pricing Of Term Sheet Related To Offering Of $1 Billion 1.750% Notes Due 2031 - Sec Filing.</pfe.n></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞"},"source_url":"https://www.trkd.thomsonreuters.com","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2160273552","content_text":"Pfizer Inc :Pfizer Files Pricing Of Term Sheet Related To Offering Of $1 Billion 1.750% Notes Due 2031 - Sec Filing.","news_type":1},"isVote":1,"tweetType":1,"viewCount":133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805273360,"gmtCreate":1627887610950,"gmtModify":1703497225776,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Nice!","listText":"Nice!","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/805273360","repostId":"2156169749","repostType":4,"repost":{"id":"2156169749","pubTimestamp":1627864728,"share":"https://ttm.financial/m/news/2156169749?lang=&edition=fundamental","pubTime":"2021-08-02 08:38","market":"us","language":"en","title":"Missed Out on the FAANG Stocks? Consider Buying These PfANG Stocks Instead.","url":"https://stock-news.laohu8.com/highlight/detail?id=2156169749","media":"Motley Fool","summary":"There's both rhyme and reason for checking out these four stocks.","content":"<p>What's worse than the fear of missing out? I'd put the fear of having already missed out high on the list. There's nothing you can do once an opportunity is gone.</p>\n<p>Some investors might be feeling as if they've already missed out on the FAANG stocks. After all, four of them --&nbsp; <b>Apple</b> (NASDAQ:AAPL), <b>Alphabet</b> (NASDAQ:GOOG) (NASDAQ:GOOGL) (whose Google unit is the \"G\" in FAANG), <b>Amazon.com</b> (NASDAQ:AMZN), and&nbsp;<b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> (NASDAQ:FB) -- rank among the top 10 biggest companies in the world. Only&nbsp;<b>Netflix</b> (NASDAQ:NFLX) lags behind, but the streaming company still has a market cap of close to $230 billion.</p>\n<p>If you're concerned that you've missed out on a great opportunity with the FAANG stocks, don't worry. Consider buying these PfANG stocks instead.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5160b68a97ec192124c08475ad420b61\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Introducing the PfANG stocks</h2>\n<p>Aside from the fact that they're all now huge, the FAANG stocks have something else in common: They're all tech stocks. While technology remains a hot area for investors, the healthcare sector also offers tremendous growth prospects. Each of the PfANG stocks ranks as a leader in healthcare, albeit in very different ways.</p>\n<p><b>Pfizer</b> (NYSE:PFE) contributes the \"Pf\" in PfANG. The company is by far the best known of the group. Pfizer, of course, markets a blockbuster COVID-19 vaccine along with its partner, <b>BioNTech</b>. The company also has a product lineup that's loaded with other successful drugs and vaccines.</p>\n<p><b>Align Technology </b>(NASDAQ:ALGN) pioneered the clear dental aligner market. The company's Invisalign clear aligners have been used to straighten the teeth of nearly 11 million patients so far. Align also markets intraoral scanners used to create 3D images of teeth.</p>\n<p><b>Nano-X Imaging</b> (NASDAQ:NNOX) expects to disrupt the medical imaging market with its digital X-ray devices. The company recently filed for U.S. Food and Drug Administration (FDA) clearance of the first version of its multisource digital system.</p>\n<p><b>Guardant Health</b> (NASDAQ:GH) is a leader in developing liquid biopsy tests for cancer. The company's first products on the market help match patients with the best cancer therapy and enable drugmakers to develop new therapies.</p>\n<h2>What sets these stocks apart</h2>\n<p>A catchy name that sounds just like FAANG doesn't make these four stocks great picks, of course. However, there are two specific things that set these stocks apart:</p>\n<ol>\n <li>They all target a massive potential market.</li>\n <li>They all have a head start in that market.</li>\n</ol>\n<p>Pfizer has been around a long time and is by far the biggest of the PfANG stocks. The company still has multiple growth opportunities, though. One of the most significant of these is in messenger RNA (mRNA) therapies and vaccines.</p>\n<p>The company continues to work closely with BioNTech on its mRNA COVID-19 vaccine program and an mRNA flu vaccine. Pfizer plans to move forward with mRNA development on its own as well.</p>\n<p>CEO Albert Bourla stated in the company's Q2 conference call last week that Pfizer's strategy is to \"advance and unlock the full potential of mRNA.\" This strategy includes expanding its COVID-19 vaccine franchise and developing mRNA candidates targeting other infectious diseases, rare diseases, and cancer.</p>\n<p>Align Technology has generated impressive growth in recent years. The company, though, still has only captured 11% of the addressable market for clear aligners.</p>\n<p>Nano-X doesn't plan to compete for market share in the $21 billion medical imaging market; it fully intends to expand that market. The company's mobile devices cost only a fraction of current X-ray systems. <a href=\"https://laohu8.com/S/TWOA.U\">Two</a>-thirds of the world population have no meaningful access to medical imaging. Nano-X's opportunity is wide open.</p>\n<p>Guardant Health targets a $70 billion-plus potential market in cancer therapy selection, recurrence monitoring, and early screening. There are other companies going after this market as well. However, Guardant stands as <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the leaders and already has strong adoption for its initial liquid biopsy products.</p>\n<h2>Still some bite left in the FAANG stocks, too</h2>\n<p>I think that the PfANG stocks could deliver market-beating returns over the long term. But you don't really need to worry about having already missed out on the FAANG stocks.</p>\n<p>Augmented reality and virtual reality present big growth opportunities for Facebook and Apple. Artificial intelligence should serve as a growth driver for both of these stocks as well as Alphabet. Netflix is moving into gaming. These FAANG stocks should still have some bite left in them.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Missed Out on the FAANG Stocks? Consider Buying These PfANG Stocks Instead.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMissed Out on the FAANG Stocks? Consider Buying These PfANG Stocks Instead.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-02 08:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/01/missed-out-on-the-faang-stocks-consider-buying-the/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What's worse than the fear of missing out? I'd put the fear of having already missed out high on the list. There's nothing you can do once an opportunity is gone.\nSome investors might be feeling as if...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/01/missed-out-on-the-faang-stocks-consider-buying-the/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","ALGN":"艾利科技","GOOG":"谷歌","NNOX":"Nano-X Imaging Ltd.","NFLX":"奈飞","PFE":"辉瑞","AMZN":"亚马逊","GH":"Guardant Health Inc.","GOOGL":"谷歌A"},"source_url":"https://www.fool.com/investing/2021/08/01/missed-out-on-the-faang-stocks-consider-buying-the/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156169749","content_text":"What's worse than the fear of missing out? I'd put the fear of having already missed out high on the list. There's nothing you can do once an opportunity is gone.\nSome investors might be feeling as if they've already missed out on the FAANG stocks. After all, four of them --  Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) (whose Google unit is the \"G\" in FAANG), Amazon.com (NASDAQ:AMZN), and Facebook (NASDAQ:FB) -- rank among the top 10 biggest companies in the world. Only Netflix (NASDAQ:NFLX) lags behind, but the streaming company still has a market cap of close to $230 billion.\nIf you're concerned that you've missed out on a great opportunity with the FAANG stocks, don't worry. Consider buying these PfANG stocks instead.\nImage source: Getty Images.\nIntroducing the PfANG stocks\nAside from the fact that they're all now huge, the FAANG stocks have something else in common: They're all tech stocks. While technology remains a hot area for investors, the healthcare sector also offers tremendous growth prospects. Each of the PfANG stocks ranks as a leader in healthcare, albeit in very different ways.\nPfizer (NYSE:PFE) contributes the \"Pf\" in PfANG. The company is by far the best known of the group. Pfizer, of course, markets a blockbuster COVID-19 vaccine along with its partner, BioNTech. The company also has a product lineup that's loaded with other successful drugs and vaccines.\nAlign Technology (NASDAQ:ALGN) pioneered the clear dental aligner market. The company's Invisalign clear aligners have been used to straighten the teeth of nearly 11 million patients so far. Align also markets intraoral scanners used to create 3D images of teeth.\nNano-X Imaging (NASDAQ:NNOX) expects to disrupt the medical imaging market with its digital X-ray devices. The company recently filed for U.S. Food and Drug Administration (FDA) clearance of the first version of its multisource digital system.\nGuardant Health (NASDAQ:GH) is a leader in developing liquid biopsy tests for cancer. The company's first products on the market help match patients with the best cancer therapy and enable drugmakers to develop new therapies.\nWhat sets these stocks apart\nA catchy name that sounds just like FAANG doesn't make these four stocks great picks, of course. However, there are two specific things that set these stocks apart:\n\nThey all target a massive potential market.\nThey all have a head start in that market.\n\nPfizer has been around a long time and is by far the biggest of the PfANG stocks. The company still has multiple growth opportunities, though. One of the most significant of these is in messenger RNA (mRNA) therapies and vaccines.\nThe company continues to work closely with BioNTech on its mRNA COVID-19 vaccine program and an mRNA flu vaccine. Pfizer plans to move forward with mRNA development on its own as well.\nCEO Albert Bourla stated in the company's Q2 conference call last week that Pfizer's strategy is to \"advance and unlock the full potential of mRNA.\" This strategy includes expanding its COVID-19 vaccine franchise and developing mRNA candidates targeting other infectious diseases, rare diseases, and cancer.\nAlign Technology has generated impressive growth in recent years. The company, though, still has only captured 11% of the addressable market for clear aligners.\nNano-X doesn't plan to compete for market share in the $21 billion medical imaging market; it fully intends to expand that market. The company's mobile devices cost only a fraction of current X-ray systems. Two-thirds of the world population have no meaningful access to medical imaging. Nano-X's opportunity is wide open.\nGuardant Health targets a $70 billion-plus potential market in cancer therapy selection, recurrence monitoring, and early screening. There are other companies going after this market as well. However, Guardant stands as one of the leaders and already has strong adoption for its initial liquid biopsy products.\nStill some bite left in the FAANG stocks, too\nI think that the PfANG stocks could deliver market-beating returns over the long term. But you don't really need to worry about having already missed out on the FAANG stocks.\nAugmented reality and virtual reality present big growth opportunities for Facebook and Apple. Artificial intelligence should serve as a growth driver for both of these stocks as well as Alphabet. Netflix is moving into gaming. These FAANG stocks should still have some bite left in them.","news_type":1},"isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834025878,"gmtCreate":1629763514094,"gmtModify":1676530121890,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/4087890904031420\">@1moretime</a>:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","listText":"//<a href=\"https://laohu8.com/U/4087890904031420\">@1moretime</a>:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","text":"//@1moretime:Distraction is the right word. So much fluff to divert attention from the core business and it’s issues.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834025878","repostId":"1107075259","repostType":4,"repost":{"id":"1107075259","pubTimestamp":1629509852,"share":"https://ttm.financial/m/news/1107075259?lang=&edition=fundamental","pubTime":"2021-08-21 09:37","market":"us","language":"en","title":"Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla","url":"https://stock-news.laohu8.com/highlight/detail?id=1107075259","media":"MarketWatch","summary":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.$Investors$ should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.At $Tesla Motors$’s AI Day late Thursday, self-named Technoking Musk said th","content":"<blockquote>\n <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>\n</blockquote>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p>\n<p>At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p>\n<p>After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p>\n<p>As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p>\n<p>“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p>\n<p>The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p>\n<p>“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p>\n<p>“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p>\n<p>The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p>\n<p>The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p>\n<p>“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p>\n<p>It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p>\n<p>If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p>\n<p>“We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p>\n<p>But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p>\n<p>For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p>\n<p>“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p>\n<p>With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p>\n<p>“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p>\n<p>Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p>","source":"market_watch","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>Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIgnore Elon Musk’s dancing distraction and face the dangers ahead for Tesla\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-21 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology ...</p>\n\n<a href=\"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107075259","content_text":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.\n\nInvestors should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.\nAt Tesla Motors’s AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”\nAfter a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.\nAs always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.\n“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this Tesla Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.\nThe safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.\nJust a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.\n“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at American University in Washington DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”\n“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.\nThe week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The National Highway Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with Advanced Driver Assistance Systems (ADAS) and tractor-trailers.\nThe latest outcry on Capitol Hill follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.\n“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”\nIt is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”\nIf only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.\n“We basically have to solve real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over one million cars on the road that are collecting data… But I am highly confident that we will get this done.”\nBut for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.\nFor example, Alphabet Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.\n“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of American University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”\nWith FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.\n“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.\nMusk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.","news_type":1},"isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834022863,"gmtCreate":1629763446852,"gmtModify":1676530121854,"author":{"id":"4087890904031420","authorId":"4087890904031420","authorIdStr":"4087890904031420","name":"1moretime","avatar":"https://static.tigerbbs.com/8f4021db7dfd5e5a08edfc57ea25e740","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087890904031420"},"themes":[],"htmlText":"Well I think&nbsp;it is subjective and differs from person to person.&nbsp;//<a href=\"https://laohu8.com/U/4091790236379980\">@Short</a>:Penny stock is like gambling in a casino. Always fun","listText":"Well I think&nbsp;it is subjective and differs from person to person.&nbsp;//<a href=\"https://laohu8.com/U/4091790236379980\">@Short</a>:Penny stock is like gambling in a casino. Always fun","text":"Well I think it is subjective and differs from person to person. //@Short:Penny stock is like gambling in a casino. Always fun","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834022863","repostId":"1172699620","repostType":4,"repost":{"id":"1172699620","pubTimestamp":1629450202,"share":"https://ttm.financial/m/news/1172699620?lang=&edition=fundamental","pubTime":"2021-08-20 17:03","market":"us","language":"en","title":"Penny Stocks: Why You Should Always Stay Away","url":"https://stock-news.laohu8.com/highlight/detail?id=1172699620","media":"Kiplinger","summary":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar","content":"<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.</p>\n<p>Call them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"</p>\n<p>Plenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”</p>\n<p>We’ll break down what all that means below, but suffice to say, the SEC is not a fan.</p>\n<h3><b>Why Penny Stocks Are So Dangerous</b></h3>\n<p>To be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.</p>\n<p>For some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”</p>\n<p>Typically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).</p>\n<p>The SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.</p>\n<p>That’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.</p>\n<p>Put it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.</p>\n<p>But that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.</p>\n<p>That lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see&nbsp;<i>The Wolf of Wall Street</i>?</p>\n<p>To protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.</p>\n<h3><b>Legitimate OTCs</b></h3>\n<p>Be that as it may, there is one segment of the OTC market that investors need not fear.</p>\n<p>Amidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of&nbsp;<b>The <a href=\"https://laohu8.com/S/IDCBY\">Industrial and Commercial Bank of China Ltd.</a></b>&nbsp;(IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’s<b>Nestlé</b>(NSRGY), the largest food company in the world; China’s&nbsp;<b><a href=\"https://laohu8.com/S/TCEHY\">Tencent Holding Ltd.</a></b>&nbsp;(TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant&nbsp;<b><a href=\"https://laohu8.com/S/NTDOY\">Nintendo Co., Ltd.</a> </b>(NTDOY).</p>\n<p>Why would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?</p>\n<p>The reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.</p>\n<p>With an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.</p>\n<p>The bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.</p>\n<p>It’s easy enough to lose money investing in stocks. Why make it easier?</p>","source":"lsy1629449927514","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>Penny Stocks: Why You Should Always Stay Away</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\">\nPenny Stocks: Why You Should Always Stay Away\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-20 17:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away><strong>Kiplinger</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of ...</p>\n\n<a href=\"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IDCBY":"工商银行ADR","TCEHY":"腾讯控股ADR","NTDOY":"任天堂"},"source_url":"https://www.kiplinger.com/investing/603303/penny-stocks-always-stay-away","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172699620","content_text":"Penny stocks – those stocks that trade for low prices, often with share prices of less than a dollar per share – are dangerous. Period. Indeed, with a few exceptions, investors should steer clear of these uber-cheap stocks, which typically trade over-the-counter and not on a major exchange.\nCall them penny stocks, microcaps or OTC stocks; by any name, they’re bad news. Promises of quick and easy riches are easier to fall for when an investment can be made with so little money up front. An investor might think, \"How risky could it be?\"\nPlenty. Per the Securities and Exchange Commission: “Academic studies find that OTC stocks tend to be highly illiquid; are frequent targets of alleged market manipulation; generate negative and volatile investment returns on average; and rarely grow into a large company or transition to listing on a stock exchange.”\nWe’ll break down what all that means below, but suffice to say, the SEC is not a fan.\nWhy Penny Stocks Are So Dangerous\nTo be clear, this is not to say that every penny stock or OTC company is a scam. The danger is that the over-the-counter market is where the scam stocks live. Think of it as a bad neighborhood. Being there can make you a mark for a con.\nFor some background, the OTC market is different from exchanges like the New York Stock Exchange or Nasdaq, where trading is centralized. There is no one OTC exchange. Instead, the OTC connects buyers and sellers over a computer- and telephone-based system. Any stock that does not trade on the NYSE, Nasdaq or other established U.S. exchange can trade over-the-counter. These securities also are known as “unlisted stocks.”\nTypically, OTC stocks tend to be highly risky microcap stocks (the shares of small companies with market capitalizations of under $300 million), which include nanocap stocks (those with market values of under $50 million).\nThe SEC has long warned investors about the high risks associated with such stocks. The Financial Industry Regulatory Authority (FINRA), the industry’s self-regulatory agency, likewise waves a red flag over the buying and trading of OTC securities.\nThat’s because companies that list on the OTC aren’t required to file periodic or audited financial reports as they must do if they are listed on a major exchange, such as the NYSE or the Nasdaq. In other words, there’s no way to know if they’re telling the truth when they claim to have sales and profits. The major exchanges also have listing requirements; OTC stocks don’t. For example, a company must have at least 400 shareholders and a market value of at least $40 million to get a listing on the New York Stock Exchange. The OTC makes no such requirements.\nPut it all together, and it makes it easier for unscrupulous managers to lie about their business prospects or commit securities fraud.\nBut that’s not all. The shares that exchange hands on the OTC tend to be “illiquid,” meaning they often trade in low volumes and have a limited number of buyers and sellers. That can make it difficult or impossible for investors to buy or sell shares at the prices they want.\nThat lack of liquidity also makes many OTC stocks the perfect vehicle for “pump-and-dump” schemes where stock promoters lure investors to buy shares, increasing the stock price. Then, when the price gets high enough, the pumper sells his shares, causing the stock to fall and leaving investors with poor returns, or even losses. Anyone here see The Wolf of Wall Street?\nTo protect investors from falling for these schemes, the SEC suspended trading of more than 800 microcap stocks – more than 8% of the OTC market – between 2012 and 2015. Once a stock has been suspended from trading, it cannot be relisted unless the company provides updated financial information to prove it’s actually operational. Since that rarely happens, trading suspensions essentially render the shares useless to scam artists.\nLegitimate OTCs\nBe that as it may, there is one segment of the OTC market that investors need not fear.\nAmidst the riff-raff, some of the biggest, most respected foreign companies in the world list their U.S. shares over-the-counter instead of on the major U.S. exchanges. Here, you’ll find shares of The Industrial and Commercial Bank of China Ltd. (IDCBY), which happens to be the biggest bank in the world. You also can buy shares of Switzerland’sNestlé(NSRGY), the largest food company in the world; China’s Tencent Holding Ltd. (TCEHY), one of the country’s largest internet service providers; and Japanese gaming giant Nintendo Co., Ltd. (NTDOY).\nWhy would major, international publicly traded companies rub shoulders with firms that issue highly speculative penny stocks?\nThe reason has to do with cost and convenience. For example, a foreign firm listing on the NYSE or Nasdaq must prepare two sets of audited financial statements for everything it does – one to conform with international accounting standards, and another that adheres to the generally accepted accounting principles (GAAP) used in the U.S. That isn’t a requirement over-the-counter.\nWith an OTC listing, a foreign company gains access to the vast pool of U.S. equity investors at a fraction of the cost and effort.\nThe bottom line is that with the exception of large, established foreign firms, OTC stocks come with too many risks. It’s not possible for the average investor to know if the company is on the up and up. And even legitimate tiny companies can fail virtually overnight. The pitfalls of trading OTC stocks just aren’t worth it.\nIt’s easy enough to lose money investing in stocks. Why make it easier?","news_type":1},"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}