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BaldoRocks

BaldoRocks

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2022-10-23

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Snap Sets off Alarm Bells in Ad-Reliant Social Media Sector

2022-10-22

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77% of Warren Buffett's $313 Billion Portfolio is Invested in These 6 Stocks

2022-10-18

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Oversold Conditions Grant a Mega Buying Opportunity

2021-12-30

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Semiconductor Stocks Mixed in Morning Trading

2022-01-28

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Dow Chemical Jumped Nearly 6% in Morning Trading as Its Sales Rise Above Expectations

2022-01-12

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Tesla leading autos 'biggest transformation since the 1950s': Wedbush's Ives

2022-10-30

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Tesla’s Growth Story is Still Attractive despite Mixed Quarter

2021-12-22

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Wall Street closes up strongly with boost from Nike, Micron, following Omicron slide

2022-02-27

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Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value

2022-01-14

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2022-01-04

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Is Apple Stock Likely To Reach $200 In 2022?

2021-12-30

Nice article 👍

The Bull Market Keeps Running Thanks to Growing Profit Forecasts

2022-02-01

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Hooker Furnishings acquires Sunset West for foraying outdoor furniture segment

2022-01-11

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Apple in Talks to Cover Major League Baseball - Report

2021-12-23

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Is Coinbase The 'Most Obvious Play In The Stock Market Right Now'?

2023-02-28

$Camber Energy(CEI)$

2022-01-04

Great ariticle, would you like to share it?

@IamZhong:$Tilray Inc.(TLRY)$when is approval?

2022-10-31

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2022-10-31

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Credit Suisse Stock Jumps 5.7% in Morning Trading

2022-05-25

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@CyrilDavy:$Coca-Cola(KO)$ KO has a higher dividend yield, has had stronger share performance, and has more robust earnings growth rates. Additionally, the company has witnessed more substantial estimate revisions and hasn’t had nearly as many analysts lowering their outlook. For these reasons, I believe that KO would be a better place to park your cash.

Go to Tiger App to see more news

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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>Meme Stocks Gained in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta 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class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-10-31 21:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Meme stocks gained in morning trading. AMC rose 7%; BBBY rose nearly 5%; Express rose 3%.</p><p>GameStop paused for volatility after jumping 17%.<img src=\"https://static.tigerbbs.com/68479ae0e44e5163f5284cf32cf9397c\" tg-width=\"453\" tg-height=\"288\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","BBBY":"3B家居","GME":"游戏驿站"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184349333","content_text":"Meme stocks gained in morning trading. AMC rose 7%; BBBY rose nearly 5%; Express rose 3%.GameStop paused for volatility after jumping 17%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982491793,"gmtCreate":1667225586412,"gmtModify":1676537880648,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9982491793","repostId":"1191316505","repostType":4,"repost":{"id":"1191316505","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1667223765,"share":"https://ttm.financial/m/news/1191316505?lang=&edition=fundamental","pubTime":"2022-10-31 21:42","market":"us","language":"en","title":"Credit Suisse Stock Jumps 5.7% in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1191316505","media":"Tiger Newspress","summary":"Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion)","content":"<html><head></head><body><p>Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank&#39;s bid to tackle the biggest crisis in its 166-year history.</p><p>Credit Suisse Stock Jumps 5.7% in Morning Trading.<img src=\"https://static.tigerbbs.com/5b0b1b35401eb6ff5f7a939a3d8b8e43\" tg-width=\"798\" tg-height=\"720\" width=\"100%\" height=\"auto\"/>Switzerland&#39;s second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.</p><p>Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.</p><p>The bank now is offering new and existing shareholders the chance to buy new shares in the lender.</p><p>It said new investors have committed to buying 462 million new shares at a purchase price of 3.82 Swiss francs ($3.83), equivalent to 94% of the volume weighted average price of Credit Suisse shares on Oct. 27 and 28, raising 1.76 billion Swiss francs.</p><p>Some 307.6 million of the new shares are expected to be bought by Saudi National Bank, giving it a 9.9% stake in Credit Suisse.</p><p>Existing investors meanwhile will get the chance to buy 889 million shares being offered at 2.52 francs per share, with subscription rights corresponding to the size of their present stake.</p><p>It is expected that seven pre-emptive subscription rights will entitle their holder to purchase two new shares at a 32% discount on the reference price, Credit Suisse said.</p><p>Both issues have to be approved at an extraordinary general meeting due to be held on Nov. 23.</p><p>If shareholders reject the plan, Credit Suisse said it would issue 1.8 billion new shares at an offer price of 2.27 francs per share, which would still enable it to raise 4 billion francs.</p><p>The bank has been pushing to sell assets to raise money and free up capital to try to limit how much cash it would have to raise, handle its legacy litigation costs and retain a cushion for rough markets ahead.</p><p>On Monday, Credit Suisse said it would act as its own global coordinator for the rights offering, while Deutsche Bank, Morgan Stanley, RBC Capital Markets and Societe Generale would be Joint Lead Managers and Joint Bookrunners. ($1 = 0.9972 Swiss francs)</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>Credit Suisse Stock Jumps 5.7% in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; 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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\">\nCredit Suisse Stock Jumps 5.7% in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-10-31 21:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank&#39;s bid to tackle the biggest crisis in its 166-year history.</p><p>Credit Suisse Stock Jumps 5.7% in Morning Trading.<img src=\"https://static.tigerbbs.com/5b0b1b35401eb6ff5f7a939a3d8b8e43\" tg-width=\"798\" tg-height=\"720\" width=\"100%\" height=\"auto\"/>Switzerland&#39;s second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.</p><p>Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.</p><p>The bank now is offering new and existing shareholders the chance to buy new shares in the lender.</p><p>It said new investors have committed to buying 462 million new shares at a purchase price of 3.82 Swiss francs ($3.83), equivalent to 94% of the volume weighted average price of Credit Suisse shares on Oct. 27 and 28, raising 1.76 billion Swiss francs.</p><p>Some 307.6 million of the new shares are expected to be bought by Saudi National Bank, giving it a 9.9% stake in Credit Suisse.</p><p>Existing investors meanwhile will get the chance to buy 889 million shares being offered at 2.52 francs per share, with subscription rights corresponding to the size of their present stake.</p><p>It is expected that seven pre-emptive subscription rights will entitle their holder to purchase two new shares at a 32% discount on the reference price, Credit Suisse said.</p><p>Both issues have to be approved at an extraordinary general meeting due to be held on Nov. 23.</p><p>If shareholders reject the plan, Credit Suisse said it would issue 1.8 billion new shares at an offer price of 2.27 francs per share, which would still enable it to raise 4 billion francs.</p><p>The bank has been pushing to sell assets to raise money and free up capital to try to limit how much cash it would have to raise, handle its legacy litigation costs and retain a cushion for rough markets ahead.</p><p>On Monday, Credit Suisse said it would act as its own global coordinator for the rights offering, while Deutsche Bank, Morgan Stanley, RBC Capital Markets and Societe Generale would be Joint Lead Managers and Joint Bookrunners. ($1 = 0.9972 Swiss francs)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191316505","content_text":"Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank's bid to tackle the biggest crisis in its 166-year history.Credit Suisse Stock Jumps 5.7% in Morning Trading.Switzerland's second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.The bank now is offering new and existing shareholders the chance to buy new shares in the lender.It said new investors have committed to buying 462 million new shares at a purchase price of 3.82 Swiss francs ($3.83), equivalent to 94% of the volume weighted average price of Credit Suisse shares on Oct. 27 and 28, raising 1.76 billion Swiss francs.Some 307.6 million of the new shares are expected to be bought by Saudi National Bank, giving it a 9.9% stake in Credit Suisse.Existing investors meanwhile will get the chance to buy 889 million shares being offered at 2.52 francs per share, with subscription rights corresponding to the size of their present stake.It is expected that seven pre-emptive subscription rights will entitle their holder to purchase two new shares at a 32% discount on the reference price, Credit Suisse said.Both issues have to be approved at an extraordinary general meeting due to be held on Nov. 23.If shareholders reject the plan, Credit Suisse said it would issue 1.8 billion new shares at an offer price of 2.27 francs per share, which would still enable it to raise 4 billion francs.The bank has been pushing to sell assets to raise money and free up capital to try to limit how much cash it would have to raise, handle its legacy litigation costs and retain a cushion for rough markets ahead.On Monday, Credit Suisse said it would act as its own global coordinator for the rights offering, while Deutsche Bank, Morgan Stanley, RBC Capital Markets and Societe Generale would be Joint Lead Managers and Joint Bookrunners. ($1 = 0.9972 Swiss francs)","news_type":1},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982343009,"gmtCreate":1667102074301,"gmtModify":1676537861484,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9982343009","repostId":"1178850157","repostType":4,"repost":{"id":"1178850157","kind":"news","pubTimestamp":1667093266,"share":"https://ttm.financial/m/news/1178850157?lang=&edition=fundamental","pubTime":"2022-10-30 09:27","market":"us","language":"en","title":"Tesla’s Growth Story is Still Attractive despite Mixed Quarter","url":"https://stock-news.laohu8.com/highlight/detail?id=1178850157","media":"TipRanks","summary":"Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story ","content":"<div>\n<p>Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive\">Web Link</a>\n\n</div>\n","source":"lsy1606183248679","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla’s Growth Story is Still Attractive despite Mixed Quarter</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\">\nTesla’s Growth Story is Still Attractive despite Mixed Quarter\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-30 09:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive\">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.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178850157","content_text":"Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story with its stock trading at multi-year lows.Tesla’s (NASDAQ: TSLA) recent decline is reminiscent of the tech sector during the Great Recession. TSLA stock hit an all-time high of $414 last year but now trades closer to its 52-week lows. Investors may have been quick to judge Tesla, but there are plenty of reasons why people should hold onto its shares for the long haul. Though it missed revenue estimates for the third quarter, it produced record results across business units. Hence, we’re bullish on TSLA stock.The EV giant has had an amazing year. It recently opened up two new Gigafactories that will double its previous annual production capacity from 1 million to 2 million cars. Recent comments by its maverick CEO, Elon Musk, suggested that the company is just starting with its global domination.With 12 additional Gigafactories, Tesla will produce 20 million cars annually by 2030. Analysts predict that this will bring in about $120 billion in revenue in 2023. It’s hard to say if Tesla can maintain its market share in the long run with so many new entrants making their presence felt in the EV space. However, its incredible brand equity in the space positions it as a clear frontrunner in the sphere.Plenty of Bright Spots in the Third Quarter for TeslaTesla delivered mixed results in its third quarter. Revenue increased 56% from the prior-year period to $21.45 billion, missing analyst estimates by a considerable margin. The miss was due to increased foreign exchange headwinds, with the U.S. Dollar faring much better than other currencies. Nevertheless, there were plenty of bright spots.Despite the economy being on an inflationary rollercoaster, Tesla’s operating expenses only grew by 2% to $1.69 billion. It also etched out a 17.2% operating margin driven by higher average selling prices. Tesla’s Adjusted EBITDA increased by 55% over the past year and now stands at $4.97 billion, while overall net income was up a staggering 103%. Earnings per share also rose by 98% from the same period last year.Its core growth driver was an increase in vehicle deliveries, which shot up 42% year-over-year to 343,830 vehicles and a 54% bump in production levels. Tesla’s market share is under 2% in the European and Chinese regions, so there’s still plenty of room for expansion. Even a small increase in market share could result in a massive sales windfall for the company.Tesla Stock Has Multiple Growth Catalysts in MotionTesla has been steadily updating its product line with new vehicles that are revolutionizing the automotive industry. The company’s latest innovation, an electric semi-truck, will start being delivered to PepsiCo (NASDAQ: PEP) on December 1. Moreover, the firm’s Cybertruck is in its final design phases and should soon hit the markets. Furthermore, Musk says a lower-priced EV is coming, which will expand Tesla’s passenger car offerings even further.There is also Tesla’s self-driving program, which has logged over 60 million miles from volunteers. The more miles the software logs, the better it “learns,” thus improving its capabilities. This will be a crucial part of the company’s robotaxi business, which would revolutionize how people move around communities by removing human intervention entirely.In addition to vehicles, Tesla is looking into manufacturing robots. Known as Optimus bots, they could be used as replacements for human workers who are now needed more than ever before. If Tesla’s new Optimus functionalities are any indication, robots could soon take over many of the low-skill jobs that companies rely on today. These automated machines can operate around the clock and do so with little human intervention, making them an ideal replacement for factory workers.Optimus is expected to hit markets in 2027. The potential for this technology is unprecedented. With a price tag of $20,000, the opportunity is expected to generate billions in sales over time.Is Tesla Stock a Buy?Turning to Wall Street, TSLA stock maintains a Moderate Buy consensus rating. Out of 30 total analyst ratings, 19 Buys, seven Holds, and four Sells were assigned over the past three months. The average TSLA price target is $292.89, implying a 31.57% upside potential. Analyst price targets range from a low of $85 per share to a high of $436 per share.Bottomline: TSLA Stock is for the Long TermTesla has been on quite the ride these past few years, with strong results and demand that’s only getting higher. Despite some mixed third-quarter financials, investors should stay committed to this company as it continues its success story. The company’s stock is surprisingly undervalued, and although the macro picture may present some short-term headwinds, it presents itself as a great long-term investment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":452,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9981824780,"gmtCreate":1666480954941,"gmtModify":1676537758986,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/9981824780","repostId":"2277875062","repostType":4,"repost":{"id":"2277875062","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1666403370,"share":"https://ttm.financial/m/news/2277875062?lang=&edition=fundamental","pubTime":"2022-10-22 09:49","market":"us","language":"en","title":"Snap Sets off Alarm Bells in Ad-Reliant Social Media Sector","url":"https://stock-news.laohu8.com/highlight/detail?id=2277875062","media":"Reuters","summary":"(Reuters) - Snap Inc shares sank nearly 30 per cent in premarket trading on Friday, after the company's forecast of zero revenue pointed to more pain ahead for a social media sector heavily dependant on digital advertising.YouTube-parent Alphabet Inc, Facebook-parent Meta Platform Inc and Pinte ...","content":"<html><head></head><body><p>(Reuters) - <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a> shares sank more than 28% on Friday and hit their lowest since the pandemic, after the company&#39;s forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising.<img src=\"https://static.tigerbbs.com/e5e4219b7190352d46246365fc9fd8df\" tg-width=\"857\" tg-height=\"672\" referrerpolicy=\"no-referrer\"/></p><p>Facebook-parent <a href=\"https://laohu8.com/S/META\">Meta Platform Inc</a> and <a href=\"https://laohu8.com/S/PINS\">Pinterest Inc</a> fell between 1% and 6%. <a href=\"https://laohu8.com/S/TWTR\">Twitter Inc</a> slid 4.86%, also dragged by fears of security reviews of billionaire Elon Musk&#39;s takeover bid.</p><p>Analysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7. In early trading the stock hit its lowest since early 2019.</p><p>The digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap&#39;s warning exacerbated those fears.</p><p>&#34;This truly is a cautionary tale ... advertisers might show that we&#39;re already in a recession because of their unwillingness to spend on these smaller platforms,&#34; said Bokeh Capital Partners&#39; Kim Forrest.</p><p>So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc&#39;s privacy changes to its iOS platform that allows users to opt out of data tracking.</p><p>Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast no revenue growth for the typically busy holiday quarter.</p><p><b>SNAP&#39;S WOES</b></p><p>Advertisers have relied on Snap&#39;s platform to tap into its popularity among teens and young adults.</p><p>But Apple&#39;s privacy changes have made it more difficult to track and measure ads on Snapchat, causing major brands to shift their ad spending to bigger platforms that reach more people.</p><p>&#34;A challenged macro continues to see ad buyers prioritize their larger, core platforms, namely Google and Meta, as they monitor consumer health,&#34; Bernstein analyst Mark Shmulik said, adding that ad buyers reducing their spend particularly on smaller experimental platforms.</p><p>Snap&#39;s stock has lost about 77 per cent of its value so far this year, while Alphabet, Meta and Pinterest have lost between 30 per cent and 60 per cent. Twitter, however, has gained 21 per cent on the prospect of billionaire Musk buying the company.</p><p>&#34;We now believe that Snap will have difficulty remaining under control of its own destiny over the next six to nine months,&#34; MKM Partners analyst Rohit Kulkarni said.</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>Snap Sets off Alarm Bells in Ad-Reliant Social Media Sector</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\">\nSnap Sets off Alarm Bells in Ad-Reliant Social Media Sector\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-10-22 09:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a> shares sank more than 28% on Friday and hit their lowest since the pandemic, after the company&#39;s forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising.<img src=\"https://static.tigerbbs.com/e5e4219b7190352d46246365fc9fd8df\" tg-width=\"857\" tg-height=\"672\" referrerpolicy=\"no-referrer\"/></p><p>Facebook-parent <a href=\"https://laohu8.com/S/META\">Meta Platform Inc</a> and <a href=\"https://laohu8.com/S/PINS\">Pinterest Inc</a> fell between 1% and 6%. <a href=\"https://laohu8.com/S/TWTR\">Twitter Inc</a> slid 4.86%, also dragged by fears of security reviews of billionaire Elon Musk&#39;s takeover bid.</p><p>Analysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7. In early trading the stock hit its lowest since early 2019.</p><p>The digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap&#39;s warning exacerbated those fears.</p><p>&#34;This truly is a cautionary tale ... advertisers might show that we&#39;re already in a recession because of their unwillingness to spend on these smaller platforms,&#34; said Bokeh Capital Partners&#39; Kim Forrest.</p><p>So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc&#39;s privacy changes to its iOS platform that allows users to opt out of data tracking.</p><p>Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast no revenue growth for the typically busy holiday quarter.</p><p><b>SNAP&#39;S WOES</b></p><p>Advertisers have relied on Snap&#39;s platform to tap into its popularity among teens and young adults.</p><p>But Apple&#39;s privacy changes have made it more difficult to track and measure ads on Snapchat, causing major brands to shift their ad spending to bigger platforms that reach more people.</p><p>&#34;A challenged macro continues to see ad buyers prioritize their larger, core platforms, namely Google and Meta, as they monitor consumer health,&#34; Bernstein analyst Mark Shmulik said, adding that ad buyers reducing their spend particularly on smaller experimental platforms.</p><p>Snap&#39;s stock has lost about 77 per cent of its value so far this year, while Alphabet, Meta and Pinterest have lost between 30 per cent and 60 per cent. Twitter, however, has gained 21 per cent on the prospect of billionaire Musk buying the company.</p><p>&#34;We now believe that Snap will have difficulty remaining under control of its own destiny over the next six to nine months,&#34; MKM Partners analyst Rohit Kulkarni said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PINS":"Pinterest, Inc.","TWTR":"Twitter","SNAP":"Snap Inc","META":"Meta Platforms, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277875062","content_text":"(Reuters) - Snap Inc shares sank more than 28% on Friday and hit their lowest since the pandemic, after the company's forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising.Facebook-parent Meta Platform Inc and Pinterest Inc fell between 1% and 6%. Twitter Inc slid 4.86%, also dragged by fears of security reviews of billionaire Elon Musk's takeover bid.Analysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7. In early trading the stock hit its lowest since early 2019.The digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap's warning exacerbated those fears.\"This truly is a cautionary tale ... advertisers might show that we're already in a recession because of their unwillingness to spend on these smaller platforms,\" said Bokeh Capital Partners' Kim Forrest.So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc's privacy changes to its iOS platform that allows users to opt out of data tracking.Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast no revenue growth for the typically busy holiday quarter.SNAP'S WOESAdvertisers have relied on Snap's platform to tap into its popularity among teens and young adults.But Apple's privacy changes have made it more difficult to track and measure ads on Snapchat, causing major brands to shift their ad spending to bigger platforms that reach more people.\"A challenged macro continues to see ad buyers prioritize their larger, core platforms, namely Google and Meta, as they monitor consumer health,\" Bernstein analyst Mark Shmulik said, adding that ad buyers reducing their spend particularly on smaller experimental platforms.Snap's stock has lost about 77 per cent of its value so far this year, while Alphabet, Meta and Pinterest have lost between 30 per cent and 60 per cent. Twitter, however, has gained 21 per cent on the prospect of billionaire Musk buying the company.\"We now believe that Snap will have difficulty remaining under control of its own destiny over the next six to nine months,\" MKM Partners analyst Rohit Kulkarni said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9981973576,"gmtCreate":1666395208095,"gmtModify":1676537750453,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9981973576","repostId":"2277473668","repostType":4,"repost":{"id":"2277473668","kind":"highlight","pubTimestamp":1666394795,"share":"https://ttm.financial/m/news/2277473668?lang=&edition=fundamental","pubTime":"2022-10-22 07:26","market":"us","language":"en","title":"77% of Warren Buffett's $313 Billion Portfolio is Invested in These 6 Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2277473668","media":"Motley Fool","summary":"The Oracle of Omaha is a big believer that portfolio concentration drives wealth creation.","content":"<html><head></head><body><p>Few high-profile money managers have a nose for making money quite like Berkshire Hathaway CEO Warren Buffett. In the 57 years since taking the reins, the Oracle of Omaha, as he&#39;s come to be known, has led his company&#39;s Class A shares (BRK.A) to a jaw-dropping average annual return of 20.1%.</p><p>Buffett&#39;s willingness to stick with his investments for many years (if not decades) and his love of dividend stocks are two reasons he&#39;s been such a successful investor. But a key ingredient to Buffett&#39;s success that&#39;s often overlooked is his portfolio concentration.</p><p>The Oracle of Omaha believes diversification is &#34;protection against ignorance.&#34; In other words, buying a boatload of stocks makes sense only if you don&#39;t know what you&#39;re doing, according to Buffett. Although Berkshire Hathaway&#39;s $313 billion investment portfolio has stakes in around four dozen securities, more than $241 billion of invested assets -- 77% of total portfolio value -- is tied up in just six stocks.</p><h3>1. <a href=\"https://laohu8.com/S/AAPL\">Apple</a>: 40.5% of invested assets</h3><p>Warren Buffett&#39;s love for portfolio concentration is readily on display with his company&#39;s position in <a href=\"https://laohu8.com/S/AAPL\">Apple</a>. The tech stock makes up an astounding 40.5% ($126.6 billion) of invested assets and has been labeled by the Oracle of Omaha as one of Berkshire Hathaway&#39;s &#34;four giants.&#34;</p><p>There is a long list of reasons for Buffett and his investment team to have such strong convictions in Apple. This includes having a well-known brand, an exceptionally loyal customer base, and a product and service lineup driven by innovation. For instance, introducing 5G-capable iPhones has helped Apple maintain approximately half of the U.S. smartphone market share.</p><p>Apple&#39;s evolution has also seen it become a force in the subscription services space. This ongoing transformation to a platform-based operating model should accelerate its organic growth rate, boost its operating margin, and minimize the revenue fluctuations associated with physical product replacement cycles.</p><p>As one final note, Apple&#39;s capital return program is unmatched. It pays out nearly $14.8 billion in dividends annually and has repurchased roughly $520 billion of its own common stock since the beginning of 2013.</p><p><img src=\"https://static.tigerbbs.com/e7003706e2028bde743b3cdeda783ff2\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/></p><p>Rising interest rates are a tailwind for banks with outstanding variable-rate loans. Effective Federal Funds Rate data by YCharts.</p><h3>2. <a href=\"https://laohu8.com/S/BAC\">Bank of America</a>: 10.5% of invested assets</h3><p>Though Apple is Berkshire Hathaway&#39;s largest holding by a significant amount, bank stocks will forever be Warren Buffett&#39;s favorite industry. The $32.7 billion invested in money-center giant <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> is no surprise at all.</p><p>The beauty of bank stocks is their cyclical ties. Even though recessions are an inevitable part of the economic cycle, they&#39;re usually short-lived. By comparison, periods of economic expansion almost always last for years. Banks benefit from disproportionately long periods of expansion by growing their loans and deposits. It&#39;s a simple numbers game that favors patient investors like Buffett.</p><p>On a more company-specific level, Bank of America is the most interest-sensitive of the big banks. When the interest rate yield curve shifts, no bank sees its net interest income rise or fall more than BofA. With the Federal Reserve aggressively raising interest rates to tame historically high inflation, Bank of America can expect billions of dollars in added net interest income on its outstanding variable-rate loans.</p><p>BofA has a sizable capital return program as well. During bull markets, it&#39;s not uncommon for the company to return in excess of $20 billion to shareholders annually via dividends and buybacks.</p><h3>3. <a href=\"https://laohu8.com/S/CVX\">Chevron</a>: 8.4% of invested assets</h3><p>Integrated oil and gas company <a href=\"https://laohu8.com/S/CVX\">Chevron</a> is Berkshire Hathaway&#39;s third-largest holding ($26.2 billion of invested assets) and a relatively newer addition to the portfolio.</p><p>Betting big on energy isn&#39;t something Warren Buffett is known for. However, certain factors do suggest that energy commodity prices could remain elevated for years to come. Russia&#39;s invasions of Ukraine, coupled with global energy majors&#39; significant reduction in capital investment during the COVID-19 pandemic, will make it difficult to quickly boost the global supply of crude oil and natural gas.</p><p>Another selling point for Chevron is its operating structure. Being &#34;integrated&#34; means Chevron controls upstream (drilling and exploration), midstream (transmission pipeline), and downstream (chemical plants and refineries) assets. While drilling brings home the juiciest operating margin, the company&#39;s midstream assets can generate highly predictable cash flow. Meanwhile, downstream assets benefit from lower input costs when crude falls. In short, downstream assets act as a hedge against falling prices.</p><p>You shouldn&#39;t be shocked to learn that Chevron is also quite generous with its capital return program. Chevron has raised its base annual payout for 35 consecutive years, and the company may repurchase up to $15 billion of its shares this year.</p><h3>4. <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>: 7% of invested assets</h3><p>Beverage behemoth <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a> is Warren Buffett&#39;s longest-tenured holding (34 years), as well as Berkshire&#39;s fourth-largest position by market value ($22 billion).</p><p>Strong branding plays a key role in Coke&#39;s long-term outperformance. Few companies on the planet can cross generational gaps with ease and connect with consumers. Coca-Cola can do this by utilizing social media and well-known ambassadors to reach younger consumers while leaning on its holiday tie-ins to connect with more mature audiences.</p><p>Coca-Cola&#39;s geographic diversity is another reason for its bubbling success. With the exception of Cuba, North Korea, and Russia (the latter is due to its invasion of Ukraine), Coke has operations in every country worldwide. It holds about a 20% share of the cold beverage market in developed countries, which produce predictable cash flow, and a 10% share of the cold beverage space in faster-growing emerging markets.</p><p>Coca-Cola is a big-time dividend payer, too, with a 60-year streak of increasing its base annual payout. More importantly, Berkshire is netting an amazing 54% yield on Coca-Cola relative to its initial cost basis of about $3.25 per share.</p><h3>5. <a href=\"https://laohu8.com/S/AXP\">American Express</a>: 6.6% of invested assets</h3><p>Have I mentioned Warren Buffett likes financial stocks? Second only to Coca-Cola in a continuous holding period is financial services company <a href=\"https://laohu8.com/S/AXP\">American Express</a>. AmEx, as it&#39;s better known, has been a Berkshire Hathaway staple for the past 29 years.</p><p>Similar to Bank of America, AmEx benefits from long periods of economic expansion. Specifically, it&#39;s able to &#34;double dip.&#34; In addition to collecting payment processing fees from merchants, it acts as a lender via credit cards. Lengthy bull markets give AmEx an opportunity to generate interest income and fees.</p><p>Buffett should also be happy with AmEx&#39;s ability to attract affluent clientele. High-earning individuals are less likely to alter their spending habits or fail to meet their repayment obligations during minor domestic or global economic hiccups. These well-to-do customers help AmEx navigate downturns better than most lenders.</p><p>Further, American Express is an income powerhouse -- at least to Berkshire Hathaway. Thanks to a low cost basis of $8.49 per AmEx share, Buffett&#39;s company is netting a 24.5% annual yield on cost!</p><h3>6. <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>: 4.1% of invested assets</h3><p>Lastly, Buffett&#39;s company has almost $13 billion invested in integrated oil and gas stock <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>. Note this $13 billion doesn&#39;t include the $10 billion in Occidental preferred stock Berkshire Hathaway purchased in 2019.</p><p>Among these six top holdings, Occidental is the newest and, arguably, the position Buffett has built up most aggressively this year. Pardon the pun, but the catalysts fueling Chevron are the same for Occidental Petroleum. As long as the global energy supply chain remains broken or constrained, demand should provide a healthy floor beneath the price of crude oil and natural gas.</p><p>Though it&#39;s an integrated provider like Chevron, even more of Occidental&#39;s sales are skewed toward its drilling and exploration operations. If oil and natural gas prices remain well above average, Occidental Petroleum has a chance to benefit even more than Chevron.</p><p>To keep with the theme, there&#39;s a handsome capital return in store for Berkshire Hathaway. Though Occidental&#39;s 0.8% dividend yield is nothing to write home about, Berkshire <i>is</i> generating an 8% annual yield on its $10 billion preferred stock position. Altogether, Buffett&#39;s company should collect $901 million in dividend income from Occidental Petroleum over the next 12 months.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>77% of Warren Buffett's $313 Billion Portfolio is Invested in These 6 Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n77% of Warren Buffett's $313 Billion Portfolio is Invested in These 6 Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-22 07:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/10/21/77-warren-buffett-portfolio-invested-in-6-stocks/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Few high-profile money managers have a nose for making money quite like Berkshire Hathaway CEO Warren Buffett. In the 57 years since taking the reins, the Oracle of Omaha, as he's come to be known, ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/10/21/77-warren-buffett-portfolio-invested-in-6-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AXP":"美国运通","AAPL":"苹果","BRK.A":"伯克希尔","CVX":"雪佛龙","BAC":"美国银行","BRK.B":"伯克希尔B","KO":"可口可乐","OXY":"西方石油"},"source_url":"https://www.fool.com/investing/2022/10/21/77-warren-buffett-portfolio-invested-in-6-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277473668","content_text":"Few high-profile money managers have a nose for making money quite like Berkshire Hathaway CEO Warren Buffett. In the 57 years since taking the reins, the Oracle of Omaha, as he's come to be known, has led his company's Class A shares (BRK.A) to a jaw-dropping average annual return of 20.1%.Buffett's willingness to stick with his investments for many years (if not decades) and his love of dividend stocks are two reasons he's been such a successful investor. But a key ingredient to Buffett's success that's often overlooked is his portfolio concentration.The Oracle of Omaha believes diversification is \"protection against ignorance.\" In other words, buying a boatload of stocks makes sense only if you don't know what you're doing, according to Buffett. Although Berkshire Hathaway's $313 billion investment portfolio has stakes in around four dozen securities, more than $241 billion of invested assets -- 77% of total portfolio value -- is tied up in just six stocks.1. Apple: 40.5% of invested assetsWarren Buffett's love for portfolio concentration is readily on display with his company's position in Apple. The tech stock makes up an astounding 40.5% ($126.6 billion) of invested assets and has been labeled by the Oracle of Omaha as one of Berkshire Hathaway's \"four giants.\"There is a long list of reasons for Buffett and his investment team to have such strong convictions in Apple. This includes having a well-known brand, an exceptionally loyal customer base, and a product and service lineup driven by innovation. For instance, introducing 5G-capable iPhones has helped Apple maintain approximately half of the U.S. smartphone market share.Apple's evolution has also seen it become a force in the subscription services space. This ongoing transformation to a platform-based operating model should accelerate its organic growth rate, boost its operating margin, and minimize the revenue fluctuations associated with physical product replacement cycles.As one final note, Apple's capital return program is unmatched. It pays out nearly $14.8 billion in dividends annually and has repurchased roughly $520 billion of its own common stock since the beginning of 2013.Rising interest rates are a tailwind for banks with outstanding variable-rate loans. Effective Federal Funds Rate data by YCharts.2. Bank of America: 10.5% of invested assetsThough Apple is Berkshire Hathaway's largest holding by a significant amount, bank stocks will forever be Warren Buffett's favorite industry. The $32.7 billion invested in money-center giant Bank of America is no surprise at all.The beauty of bank stocks is their cyclical ties. Even though recessions are an inevitable part of the economic cycle, they're usually short-lived. By comparison, periods of economic expansion almost always last for years. Banks benefit from disproportionately long periods of expansion by growing their loans and deposits. It's a simple numbers game that favors patient investors like Buffett.On a more company-specific level, Bank of America is the most interest-sensitive of the big banks. When the interest rate yield curve shifts, no bank sees its net interest income rise or fall more than BofA. With the Federal Reserve aggressively raising interest rates to tame historically high inflation, Bank of America can expect billions of dollars in added net interest income on its outstanding variable-rate loans.BofA has a sizable capital return program as well. During bull markets, it's not uncommon for the company to return in excess of $20 billion to shareholders annually via dividends and buybacks.3. Chevron: 8.4% of invested assetsIntegrated oil and gas company Chevron is Berkshire Hathaway's third-largest holding ($26.2 billion of invested assets) and a relatively newer addition to the portfolio.Betting big on energy isn't something Warren Buffett is known for. However, certain factors do suggest that energy commodity prices could remain elevated for years to come. Russia's invasions of Ukraine, coupled with global energy majors' significant reduction in capital investment during the COVID-19 pandemic, will make it difficult to quickly boost the global supply of crude oil and natural gas.Another selling point for Chevron is its operating structure. Being \"integrated\" means Chevron controls upstream (drilling and exploration), midstream (transmission pipeline), and downstream (chemical plants and refineries) assets. While drilling brings home the juiciest operating margin, the company's midstream assets can generate highly predictable cash flow. Meanwhile, downstream assets benefit from lower input costs when crude falls. In short, downstream assets act as a hedge against falling prices.You shouldn't be shocked to learn that Chevron is also quite generous with its capital return program. Chevron has raised its base annual payout for 35 consecutive years, and the company may repurchase up to $15 billion of its shares this year.4. Coca-Cola: 7% of invested assetsBeverage behemoth Coca-Cola is Warren Buffett's longest-tenured holding (34 years), as well as Berkshire's fourth-largest position by market value ($22 billion).Strong branding plays a key role in Coke's long-term outperformance. Few companies on the planet can cross generational gaps with ease and connect with consumers. Coca-Cola can do this by utilizing social media and well-known ambassadors to reach younger consumers while leaning on its holiday tie-ins to connect with more mature audiences.Coca-Cola's geographic diversity is another reason for its bubbling success. With the exception of Cuba, North Korea, and Russia (the latter is due to its invasion of Ukraine), Coke has operations in every country worldwide. It holds about a 20% share of the cold beverage market in developed countries, which produce predictable cash flow, and a 10% share of the cold beverage space in faster-growing emerging markets.Coca-Cola is a big-time dividend payer, too, with a 60-year streak of increasing its base annual payout. More importantly, Berkshire is netting an amazing 54% yield on Coca-Cola relative to its initial cost basis of about $3.25 per share.5. American Express: 6.6% of invested assetsHave I mentioned Warren Buffett likes financial stocks? Second only to Coca-Cola in a continuous holding period is financial services company American Express. AmEx, as it's better known, has been a Berkshire Hathaway staple for the past 29 years.Similar to Bank of America, AmEx benefits from long periods of economic expansion. Specifically, it's able to \"double dip.\" In addition to collecting payment processing fees from merchants, it acts as a lender via credit cards. Lengthy bull markets give AmEx an opportunity to generate interest income and fees.Buffett should also be happy with AmEx's ability to attract affluent clientele. High-earning individuals are less likely to alter their spending habits or fail to meet their repayment obligations during minor domestic or global economic hiccups. These well-to-do customers help AmEx navigate downturns better than most lenders.Further, American Express is an income powerhouse -- at least to Berkshire Hathaway. Thanks to a low cost basis of $8.49 per AmEx share, Buffett's company is netting a 24.5% annual yield on cost!6. Occidental Petroleum: 4.1% of invested assetsLastly, Buffett's company has almost $13 billion invested in integrated oil and gas stock Occidental Petroleum. Note this $13 billion doesn't include the $10 billion in Occidental preferred stock Berkshire Hathaway purchased in 2019.Among these six top holdings, Occidental is the newest and, arguably, the position Buffett has built up most aggressively this year. Pardon the pun, but the catalysts fueling Chevron are the same for Occidental Petroleum. As long as the global energy supply chain remains broken or constrained, demand should provide a healthy floor beneath the price of crude oil and natural gas.Though it's an integrated provider like Chevron, even more of Occidental's sales are skewed toward its drilling and exploration operations. If oil and natural gas prices remain well above average, Occidental Petroleum has a chance to benefit even more than Chevron.To keep with the theme, there's a handsome capital return in store for Berkshire Hathaway. Though Occidental's 0.8% dividend yield is nothing to write home about, Berkshire is generating an 8% annual yield on its $10 billion preferred stock position. Altogether, Buffett's company should collect $901 million in dividend income from Occidental Petroleum over the next 12 months.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9989443605,"gmtCreate":1666068484407,"gmtModify":1676537700640,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9989443605","repostId":"2276154612","repostType":2,"repost":{"id":"2276154612","kind":"highlight","pubTimestamp":1666062815,"share":"https://ttm.financial/m/news/2276154612?lang=&edition=fundamental","pubTime":"2022-10-18 11:13","market":"us","language":"en","title":"Oversold Conditions Grant a Mega Buying Opportunity","url":"https://stock-news.laohu8.com/highlight/detail?id=2276154612","media":"InvestorPlace","summary":"The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we're ","content":"<html><head></head><body><ul><li>The S&amp;P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we&#39;re oversold today.</li><li>This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes.</li><li>Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash.</li></ul><p>Stocks don’t rise forever. They also don’t fall forever. </p><p>While everything you read on Twitter and see on CNBC these days will likely make you feel like this stock market crash will never end, you need to know that at some point, it will. And when it does, <b>we’re going to get a generational buying opportunity</b>. </p><p>One closely watched technical indicator suggests the stock market crash could end quite soon. </p><p>This indicator has flashed twice recently. It also flashed at the stock market bottoms of March 2020, March 2009, and November 2002. </p><p>That’s right. This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes. Now, <b>it’s predicting the end of the 2022 market crash.</b> </p><p>If right again, this indicator could be your “<b><i>golden ticket</i></b>” to market fortunes over the next year. </p><p>Here’s a deeper look. </p><h2>Current Oversold Conditions</h2><p>The indicator we’re talking about is the <b>weekly Relative Strength Index </b>for the <b>S&amp;P 500</b>. </p><p>This metric gauges the weekly buying pressure in the stock market. And it tells us how overbought or oversold stocks are in any given week using a reading from 0 to 100. Overbought conditions are typically quantified by levels over 70. Oversold conditions are typically quantified by levels less than 30. </p><p><b>We’re oversold today.</b> Not at this exact moment – but back at the summer lows, the weekly RSI on the S&amp;P 500 dropped to 30 for the first time since March 2020. </p><p>That’s noteworthy because the stock market rarely spends time as oversold. The S&amp;P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years. That means the market has been oversold on a weekly basis only 1.5% of the time. </p><p>Weekly oversold conditions in the market are incredibly rare. <b><i>They’re also incredibly bullish.</i></b></p><p>Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash. Indeed, 90% of the time, stocks are higher 12 months later – and not by a little. The average gain in the 12 months following a weekly oversold reading is about 24%! </p><p><img src=\"https://static.tigerbbs.com/11c721368d5b636be0142d8ea2614b63\" tg-width=\"624\" tg-height=\"281\" width=\"100%\" height=\"auto\"/>Source: Bloomberg</p><p>The only exceptions? Late 1973 and early 2001. But back in 1973, the market was dealing with 10%-plus inflation that was rising rapidly. In 2001, the market was still trading at a very rich valuation multiple of 21X forward earnings. Today, inflation rates are at 8% and falling, while the forward earnings multiple is just 16X – below its 5-, 10-, 20-, and 30-year averages. </p><p>In other words, <b>history says we’re either at or very close to a stock market bottom.</b> It would be unprecedented for stocks to be this oversold and undervalued and keep falling… unless a so-called “black swan” risk emerges. </p><p>And we don’t foresee any of those risks on the horizon. As such, we think that a bottom is close. And so is a <b>generational turning point</b>. </p><h2>The Final Word</h2><p>Bear markets are weird. </p><p>In good times, investors are always telling themselves: “Yeah, when that next stock market crash happens, I’m going to buy the dip and make so much money.” </p><p>Yet, when that next stock market crash does come, that usually doesn’t happen. <b>Instead, we get scared. </b></p><p>And I get it. Bear markets are scary. When stocks are crashing, it seems like there must be a sinister reason for it. Investors fear the worst – as if the economy is about to blow up.</p><p>Of course, it never actually blows up. The economy, the markets, and stocks all take a couple hits and then bounce back. </p><p>The investors who make money during bear markets are the ones who realize this and don’t panic. They are the ones who buy, hold, and wait for better times. </p><p>As it turns out, <b>waiting is actually the most valuable thing you can do in the stock market</b>, especially during bear markets! </p><p>The great Charlie Munger – Warren Buffett’s right-hand man – once said that the big money in the stock market isn’t made in the buying or the selling but in the waiting. </p><p>So, here’s my two cents on this market crash. Buy high-quality growth stocks at huge discounts today… then, wait. </p><p>Sounds simple, I know. But sometimes, the simple answer is the best one. </p><p>That’s certainly true in this situation. </p></body></html>","source":"investorplace","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oversold Conditions Grant a Mega Buying Opportunity</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\">\nOversold Conditions Grant a Mega Buying Opportunity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-18 11:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/hypergrowthinvesting/2022/10/oversold-conditions-grant-a-mega-buying-opportunity/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we're oversold today.This technical indicator successfully predicted the ending of the COVID-19, 2008 ...</p>\n\n<a href=\"https://investorplace.com/hypergrowthinvesting/2022/10/oversold-conditions-grant-a-mega-buying-opportunity/\">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://investorplace.com/hypergrowthinvesting/2022/10/oversold-conditions-grant-a-mega-buying-opportunity/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2276154612","content_text":"The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we're oversold today.This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes.Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash.Stocks don’t rise forever. They also don’t fall forever. While everything you read on Twitter and see on CNBC these days will likely make you feel like this stock market crash will never end, you need to know that at some point, it will. And when it does, we’re going to get a generational buying opportunity. One closely watched technical indicator suggests the stock market crash could end quite soon. This indicator has flashed twice recently. It also flashed at the stock market bottoms of March 2020, March 2009, and November 2002. That’s right. This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes. Now, it’s predicting the end of the 2022 market crash. If right again, this indicator could be your “golden ticket” to market fortunes over the next year. Here’s a deeper look. Current Oversold ConditionsThe indicator we’re talking about is the weekly Relative Strength Index for the S&P 500. This metric gauges the weekly buying pressure in the stock market. And it tells us how overbought or oversold stocks are in any given week using a reading from 0 to 100. Overbought conditions are typically quantified by levels over 70. Oversold conditions are typically quantified by levels less than 30. We’re oversold today. Not at this exact moment – but back at the summer lows, the weekly RSI on the S&P 500 dropped to 30 for the first time since March 2020. That’s noteworthy because the stock market rarely spends time as oversold. The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years. That means the market has been oversold on a weekly basis only 1.5% of the time. Weekly oversold conditions in the market are incredibly rare. They’re also incredibly bullish.Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash. Indeed, 90% of the time, stocks are higher 12 months later – and not by a little. The average gain in the 12 months following a weekly oversold reading is about 24%! Source: BloombergThe only exceptions? Late 1973 and early 2001. But back in 1973, the market was dealing with 10%-plus inflation that was rising rapidly. In 2001, the market was still trading at a very rich valuation multiple of 21X forward earnings. Today, inflation rates are at 8% and falling, while the forward earnings multiple is just 16X – below its 5-, 10-, 20-, and 30-year averages. In other words, history says we’re either at or very close to a stock market bottom. It would be unprecedented for stocks to be this oversold and undervalued and keep falling… unless a so-called “black swan” risk emerges. And we don’t foresee any of those risks on the horizon. As such, we think that a bottom is close. And so is a generational turning point. The Final WordBear markets are weird. In good times, investors are always telling themselves: “Yeah, when that next stock market crash happens, I’m going to buy the dip and make so much money.” Yet, when that next stock market crash does come, that usually doesn’t happen. Instead, we get scared. And I get it. Bear markets are scary. When stocks are crashing, it seems like there must be a sinister reason for it. Investors fear the worst – as if the economy is about to blow up.Of course, it never actually blows up. The economy, the markets, and stocks all take a couple hits and then bounce back. The investors who make money during bear markets are the ones who realize this and don’t panic. They are the ones who buy, hold, and wait for better times. As it turns out, waiting is actually the most valuable thing you can do in the stock market, especially during bear markets! The great Charlie Munger – Warren Buffett’s right-hand man – once said that the big money in the stock market isn’t made in the buying or the selling but in the waiting. So, here’s my two cents on this market crash. Buy high-quality growth stocks at huge discounts today… then, wait. Sounds simple, I know. But sometimes, the simple answer is the best one. That’s certainly true in this situation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022345020,"gmtCreate":1653484296160,"gmtModify":1676535290040,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022345020","repostId":"9022329945","repostType":1,"repost":{"id":9022329945,"gmtCreate":1653480016388,"gmtModify":1676535289229,"author":{"id":"9000000000000641","authorId":"9000000000000641","name":"CyrilDavy","avatar":"https://static.tigerbbs.com/fd67ba4a6ca5ca66b27af6afcce989dc","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"9000000000000641","authorIdStr":"9000000000000641"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KO\">$Coca-Cola(KO)$</a> KO has a higher dividend yield, has had stronger share performance, and has more robust earnings growth rates. Additionally, the company has witnessed more substantial estimate revisions and hasn’t had nearly as many analysts lowering their outlook. For these reasons, I believe that KO would be a better place to park your cash.","listText":"<a href=\"https://laohu8.com/S/KO\">$Coca-Cola(KO)$</a> KO has a higher dividend yield, has had stronger share performance, and has more robust earnings growth rates. Additionally, the company has witnessed more substantial estimate revisions and hasn’t had nearly as many analysts lowering their outlook. For these reasons, I believe that KO would be a better place to park your cash.","text":"$Coca-Cola(KO)$ KO has a higher dividend yield, has had stronger share performance, and has more robust earnings growth rates. Additionally, the company has witnessed more substantial estimate revisions and hasn’t had nearly as many analysts lowering their outlook. For these reasons, I believe that KO would be a better place to park your cash.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022329945","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":543,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022342797,"gmtCreate":1653484286619,"gmtModify":1676535290039,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022342797","repostId":"9022356723","repostType":1,"repost":{"id":9022356723,"gmtCreate":1653482708798,"gmtModify":1676535289787,"author":{"id":"9000000000000343","authorId":"9000000000000343","name":"bubblyx","avatar":"https://static.tigerbbs.com/c1c41413fd02f1b5e8685210b6b0bff0","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"9000000000000343","authorIdStr":"9000000000000343"},"themes":[],"title":"Microsoft Corporation (MSFT) is Attracting Investor Attention: Here is What You Should Know","htmlText":"Microsoft(MSFT) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Shares of this software maker have returned -7.2% over the past month versus the Zacks S&amp;P 500 composite's -6.8% change. The Zacks Computer - Software industry, to which Microsoft belongs, has lost 4.6% over this period. Now the key question is: Where could the stock be headed in the near term? While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making. Revisions to Earnings Estimates Here at","listText":"Microsoft(MSFT) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Shares of this software maker have returned -7.2% over the past month versus the Zacks S&amp;P 500 composite's -6.8% change. The Zacks Computer - Software industry, to which Microsoft belongs, has lost 4.6% over this period. Now the key question is: Where could the stock be headed in the near term? While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making. Revisions to Earnings Estimates Here at","text":"Microsoft(MSFT) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Shares of this software maker have returned -7.2% over the past month versus the Zacks S&P 500 composite's -6.8% change. The Zacks Computer - Software industry, to which Microsoft belongs, has lost 4.6% over this period. Now the key question is: Where could the stock be headed in the near term? While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making. Revisions to Earnings Estimates Here at","images":[{"img":"https://community-static.tradeup.com/news/fbc2462f73cb6e824237a9d626130435","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022356723","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022342604,"gmtCreate":1653484239608,"gmtModify":1676535290035,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022342604","repostId":"9022356225","repostType":1,"repost":{"id":9022356225,"gmtCreate":1653482639268,"gmtModify":1676535289772,"author":{"id":"4087786607644270","authorId":"4087786607644270","name":"Ron18","avatar":"https://community-static.tradeup.com/news/45256b61ce0a4a6edc813f1a231923a7","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087786607644270","authorIdStr":"4087786607644270"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a> Slightly more than a year ago,&nbsp;iFAST Corporation Limited&nbsp;(SGX: AIY) was flying high on a raft of good news.Stock markets were ebullient, resulting in strong cash inflows that boosted the fintech company’s assets under administration (AUA) to an all-time high of S$16.1 billion for the first quarter of 2021 (1Q2021).Back then, the group had also reported a sparkling&nbsp;set of earnings&nbsp;where net profit soared 142.5% year on year to S$8.8 million.iFAST’s share price was on a tear, too, more than doubling from S$3.03 at the start of 2021 to S$7.53 on 21 May last year.The share price went on to hit a 52-week high of S$10.10 in September.Fast forward to today, and iFAST’s share price has more than halve","listText":"<a href=\"https://ttm.financial/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a> Slightly more than a year ago,&nbsp;iFAST Corporation Limited&nbsp;(SGX: AIY) was flying high on a raft of good news.Stock markets were ebullient, resulting in strong cash inflows that boosted the fintech company’s assets under administration (AUA) to an all-time high of S$16.1 billion for the first quarter of 2021 (1Q2021).Back then, the group had also reported a sparkling&nbsp;set of earnings&nbsp;where net profit soared 142.5% year on year to S$8.8 million.iFAST’s share price was on a tear, too, more than doubling from S$3.03 at the start of 2021 to S$7.53 on 21 May last year.The share price went on to hit a 52-week high of S$10.10 in September.Fast forward to today, and iFAST’s share price has more than halve","text":"$IFAST CORPORATION LTD.(AIY.SI)$ Slightly more than a year ago, iFAST Corporation Limited (SGX: AIY) was flying high on a raft of good news.Stock markets were ebullient, resulting in strong cash inflows that boosted the fintech company’s assets under administration (AUA) to an all-time high of S$16.1 billion for the first quarter of 2021 (1Q2021).Back then, the group had also reported a sparkling set of earnings where net profit soared 142.5% year on year to S$8.8 million.iFAST’s share price was on a tear, too, more than doubling from S$3.03 at the start of 2021 to S$7.53 on 21 May last year.The share price went on to hit a 52-week high of S$10.10 in September.Fast forward to today, and iFAST’s share price has more than halve","images":[],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022356225","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022342929,"gmtCreate":1653484201861,"gmtModify":1676535290031,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022342929","repostId":"9022354417","repostType":1,"repost":{"id":9022354417,"gmtCreate":1653483109440,"gmtModify":1676535289853,"author":{"id":"3479274819816427","authorId":"3479274819816427","name":"snugglo","avatar":"https://static.tigerbbs.com/78bec073397d54a68f80879dd87fd45c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479274819816427","authorIdStr":"3479274819816427"},"themes":[],"htmlText":"For UOB and OCBC, there were one-offs in their respective results with UOB’s noninterest income lower on mark-to-market losses while OCBC’s result benefited from lower expected credit loss of 6 basis point on total loans. The latter was due to a larger expected credit loss booked in the fourth quarter last year.<a href=\"https://laohu8.com/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$</a>","listText":"For UOB and OCBC, there were one-offs in their respective results with UOB’s noninterest income lower on mark-to-market losses while OCBC’s result benefited from lower expected credit loss of 6 basis point on total loans. The latter was due to a larger expected credit loss booked in the fourth quarter last year.<a href=\"https://laohu8.com/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$</a>","text":"For UOB and OCBC, there were one-offs in their respective results with UOB’s noninterest income lower on mark-to-market losses while OCBC’s result benefited from lower expected credit loss of 6 basis point on total loans. The latter was due to a larger expected credit loss booked in the fourth quarter last year.$OVERSEA-CHINESE BANKING CORP(O39.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022354417","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022342055,"gmtCreate":1653484192178,"gmtModify":1676535290023,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022342055","repostId":"9022343873","repostType":1,"repost":{"id":9022343873,"gmtCreate":1653483476824,"gmtModify":1676535289931,"author":{"id":"3479274725915373","authorId":"3479274725915373","name":"wigglyz","avatar":"https://static.tigerbbs.com/11f0390f4344fa15e794478b64ee460f","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3479274725915373","authorIdStr":"3479274725915373"},"themes":[],"title":"How hotels and Airbnbs are tapping into the electric vehicle trend","htmlText":"How likely it is to expect an EV charger at your lodging? Given high gas prices, it might make sense that your next vacation involves an electric vehicle rather than one that’s gas-powered. Whether you’re renting an electric car for the first time or road-tripping in one that you own, when you travel you’re likely going to want to charge it at the same location you’re staying. Hotels and vacation rentals are tapping into the electric vehicle trend by making it easier to find lodging that’ll accommodate not just you, but also your electric vehicle, too. HiltonHLT,-3.08%recently added a search feature on its website that allows you to filter hotels by those with EV charging stations. While sorting by EV charger availability is still a relatively uncommon filter among major hotel brands, some","listText":"How likely it is to expect an EV charger at your lodging? Given high gas prices, it might make sense that your next vacation involves an electric vehicle rather than one that’s gas-powered. Whether you’re renting an electric car for the first time or road-tripping in one that you own, when you travel you’re likely going to want to charge it at the same location you’re staying. Hotels and vacation rentals are tapping into the electric vehicle trend by making it easier to find lodging that’ll accommodate not just you, but also your electric vehicle, too. HiltonHLT,-3.08%recently added a search feature on its website that allows you to filter hotels by those with EV charging stations. While sorting by EV charger availability is still a relatively uncommon filter among major hotel brands, some","text":"How likely it is to expect an EV charger at your lodging? Given high gas prices, it might make sense that your next vacation involves an electric vehicle rather than one that’s gas-powered. Whether you’re renting an electric car for the first time or road-tripping in one that you own, when you travel you’re likely going to want to charge it at the same location you’re staying. Hotels and vacation rentals are tapping into the electric vehicle trend by making it easier to find lodging that’ll accommodate not just you, but also your electric vehicle, too. HiltonHLT,-3.08%recently added a search feature on its website that allows you to filter hotels by those with EV charging stations. While sorting by EV charger availability is still a relatively uncommon filter among major hotel brands, some","images":[{"img":"https://community-static.tradeup.com/news/c41794ad81e7c6bb7c3310e4eecf3636","width":"1050","height":"699"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022343873","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9067202312,"gmtCreate":1652469251036,"gmtModify":1676535105759,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9067202312","repostId":"9067208496","repostType":1,"repost":{"id":9067208496,"gmtCreate":1652467973415,"gmtModify":1676535105728,"author":{"id":"3556582009315298","authorId":"3556582009315298","name":"doubleZ","avatar":"https://static.tigerbbs.com/90d125f550abadf09dc8f4dace09e00c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556582009315298","authorIdStr":"3556582009315298"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TTD\">$Trade Desk Inc.(TTD)$</a>Now we're talking. Ending the week with a green. Maybe May is not such a bad month after all...","listText":"<a href=\"https://ttm.financial/S/TTD\">$Trade Desk Inc.(TTD)$</a>Now we're talking. Ending the week with a green. Maybe May is not such a bad month after all...","text":"$Trade Desk Inc.(TTD)$Now we're talking. Ending the week with a green. Maybe May is not such a bad month after all...","images":[{"img":"https://community-static.tradeup.com/news/32f915d15e77a21c84e9a1b6a970447d","width":"828","height":"1632"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9067208496","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":332,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9082178277,"gmtCreate":1650546055683,"gmtModify":1676534748387,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9082178277","repostId":"9082114736","repostType":1,"repost":{"id":9082114736,"gmtCreate":1650536687000,"gmtModify":1676534746940,"author":{"id":"4103332230805300","authorId":"4103332230805300","name":"Smartkarma","avatar":"https://community-static.tradeup.com/news/39fffba2ff205c2730b5bf07e3de6647","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103332230805300","authorIdStr":"4103332230805300"},"themes":[],"title":"HilleVax Pre-IPO: Lead Candidate Has Potential to Become First Approved Vaccine for Norovirus","htmlText":"Norovirus vaccine developer, Hillevax, formed by Takeda Pharmaceutical and PE firm Frazier Healthcare Partners, is seeking to raise up to $100 million through its Nasdaq IPO. HilleVax (HLVX US), a novel vaccine developer intends to raise $100 million through an IPO. Its lead program HIL-214, intended to prevent norovirus infection is in phase 2 clinical trial. The number of shares to be offered and the price range are yet to be disclosed. Post listing, the company will trade under the ticker HLVX on the Nasdaq. HIL-214’s large addressable market, with huge unmet need, HilleVax’s earlier fund-raising history, and Takeda’s backing are some of the positives of this new offering. &nbsp; By Tina Banerjee - https://www.smartkarma.com/profiles/tina-banerjee?utm_source=tiger_community On HilleVax","listText":"Norovirus vaccine developer, Hillevax, formed by Takeda Pharmaceutical and PE firm Frazier Healthcare Partners, is seeking to raise up to $100 million through its Nasdaq IPO. HilleVax (HLVX US), a novel vaccine developer intends to raise $100 million through an IPO. Its lead program HIL-214, intended to prevent norovirus infection is in phase 2 clinical trial. The number of shares to be offered and the price range are yet to be disclosed. Post listing, the company will trade under the ticker HLVX on the Nasdaq. HIL-214’s large addressable market, with huge unmet need, HilleVax’s earlier fund-raising history, and Takeda’s backing are some of the positives of this new offering. &nbsp; By Tina Banerjee - https://www.smartkarma.com/profiles/tina-banerjee?utm_source=tiger_community On HilleVax","text":"Norovirus vaccine developer, Hillevax, formed by Takeda Pharmaceutical and PE firm Frazier Healthcare Partners, is seeking to raise up to $100 million through its Nasdaq IPO. HilleVax (HLVX US), a novel vaccine developer intends to raise $100 million through an IPO. Its lead program HIL-214, intended to prevent norovirus infection is in phase 2 clinical trial. The number of shares to be offered and the price range are yet to be disclosed. Post listing, the company will trade under the ticker HLVX on the Nasdaq. HIL-214’s large addressable market, with huge unmet need, HilleVax’s earlier fund-raising history, and Takeda’s backing are some of the positives of this new offering. By Tina Banerjee - https://www.smartkarma.com/profiles/tina-banerjee?utm_source=tiger_community On HilleVax","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9082114736","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":223,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039158627,"gmtCreate":1645971589811,"gmtModify":1676534078517,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039158627","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1645926503,"share":"https://ttm.financial/m/news/1125580913?lang=&edition=fundamental","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</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>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</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\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9093759966,"gmtCreate":1643717352575,"gmtModify":1676533847798,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9093759966","repostId":"1167270162","repostType":4,"repost":{"id":"1167270162","kind":"news","pubTimestamp":1643716246,"share":"https://ttm.financial/m/news/1167270162?lang=&edition=fundamental","pubTime":"2022-02-01 19:50","market":"us","language":"en","title":"Hooker Furnishings acquires Sunset West for foraying outdoor furniture segment","url":"https://stock-news.laohu8.com/highlight/detail?id=1167270162","media":"seekingalpha","summary":"To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:H","content":"<html><head></head><body><ul><li>To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:HOFT)completed the acquisition of Sunset West, westcoast-based manufacturer of outdoor furniture, in an all-cash transaction.</li><li>Under deal terms, Sunset West’s management team and all the company&#39;s employees will continue to serve its customers from its headquarters in Vista, California.</li><li>The transaction will enable Sunset West to have warehousing and stronger distribution in the eastern and central regions of the country, access to Hooker Furnishings high-traffic showroom in High Point, and the opportunity to sell into its vast retail and interior design customer base.</li></ul></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hooker Furnishings acquires Sunset West for foraying outdoor furniture segment</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\">\nHooker Furnishings acquires Sunset West for foraying outdoor furniture segment\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-01 19:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3793919-hooker-furnishings-acquires-sunset-west-for-foraying-outdoor-furniture-segment><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:HOFT)completed the acquisition of Sunset West, westcoast-based manufacturer of outdoor furniture, in ...</p>\n\n<a href=\"https://seekingalpha.com/news/3793919-hooker-furnishings-acquires-sunset-west-for-foraying-outdoor-furniture-segment\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOFT":"胡克家具"},"source_url":"https://seekingalpha.com/news/3793919-hooker-furnishings-acquires-sunset-west-for-foraying-outdoor-furniture-segment","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1167270162","content_text":"To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:HOFT)completed the acquisition of Sunset West, westcoast-based manufacturer of outdoor furniture, in an all-cash transaction.Under deal terms, Sunset West’s management team and all the company's employees will continue to serve its customers from its headquarters in Vista, California.The transaction will enable Sunset West to have warehousing and stronger distribution in the eastern and central regions of the country, access to Hooker Furnishings high-traffic showroom in High Point, and the opportunity to sell into its vast retail and interior design customer base.","news_type":1},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099184909,"gmtCreate":1643322296610,"gmtModify":1676533802813,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099184909","repostId":"1158438983","repostType":4,"repost":{"id":"1158438983","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1643295421,"share":"https://ttm.financial/m/news/1158438983?lang=&edition=fundamental","pubTime":"2022-01-27 22:57","market":"us","language":"en","title":"Dow Chemical Jumped Nearly 6% in Morning Trading as Its Sales Rise Above Expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=1158438983","media":"Tiger Newspress","summary":"Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.Its Net income","content":"<html><head></head><body><p>Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.</p><p><img src=\"https://static.tigerbbs.com/a8f885dce3cf610035bf627aa5a7ae90\" tg-width=\"771\" tg-height=\"566\" referrerpolicy=\"no-referrer\"/></p><p>Its Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago.</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>Dow Chemical Jumped Nearly 6% in Morning Trading as Its Sales Rise Above Expectations</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\">\nDow Chemical Jumped Nearly 6% in Morning Trading as Its Sales Rise Above Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-01-27 22:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.</p><p><img src=\"https://static.tigerbbs.com/a8f885dce3cf610035bf627aa5a7ae90\" tg-width=\"771\" tg-height=\"566\" referrerpolicy=\"no-referrer\"/></p><p>Its Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOW":"陶氏化学"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158438983","content_text":"Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.Its Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005970000,"gmtCreate":1642160466538,"gmtModify":1676533687564,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005970000","repostId":"1144666508","repostType":4,"repost":{"id":"1144666508","kind":"news","pubTimestamp":1642160056,"share":"https://ttm.financial/m/news/1144666508?lang=&edition=fundamental","pubTime":"2022-01-14 19:34","market":"us","language":"en","title":"3 Meme Stocks That Are Actually Solid Long-Term Picks","url":"https://stock-news.laohu8.com/highlight/detail?id=1144666508","media":"Motley Fool","summary":"The meme stock craze of 2021 was certainly a historically unique market environment. Many stocks, so","content":"<html><head></head><body><p>The meme stock craze of 2021 was certainly a historically unique market environment. Many stocks, some heavily shorted and some just interesting speculative growth plays, rocketed sharply higher -- often doubling, tripling, or more in a very short time. And many took investors on quite a roller coaster ride for months.</p><p>To be sure, most meme stocks aren&#39;t worth buying as long-term investments. For example, it&#39;s tough to make a long-term investment case for <b><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a>.</b> On the other hand, there are some stocks that got caught up in the meme stock trade that looks like solid long-term investments. And this is especially true now that there&#39;s been a massive correction in many high-growth stocks.</p><p><b>A massive opportunity and a great strategy</b></p><p><b>Offerpad</b>(NYSE:OPAD) is a real estate company that is a so-called iBuyer, or instant buyer, of homes. Offerpad&#39;s core business involves buying homes directly from sellers, doing cosmetic repairs, and then selling them directly to buyers, hopefully earning a profit in the process.</p><p>However, there are a couple of things that set Offerpad apart from its peer group (which really only consists of two other companies). For <a href=\"https://laohu8.com/S/AONE.U\">one</a> thing, Offerpad is the only iBuyer that is more focused on efficiency than all-out growth. Its unit economics have been better than those of its peers, and while it won&#39;t be consistently profitable for some time, it isn&#39;t that far from it right now.</p><p>Second, Offerpad isn&#39;t necessarily trying to completely replace open-market home sales. Its Offerpad Flex product encourages customers to list their home on the open market (with an Offerpad partner agent) and gives them a cash offer to keep in their back pocket in the event they get tired of the traditional sale process.</p><p>Offerpad went a bit meme-stockish after its late 2021 special purpose acquisition company (SPAC) merger was completed, at one point rocketing to nearly $21 from its $10 pre-SPAC valuation. Now that the SPAC boom has cooled, Offerpad has plunged to less than $6, in line with many other recent SPAC targets. But make no mistake -- this is a real business with a huge market opportunity.</p><p><b>Tons of disruptive potential</b></p><p>One of the most discussed stocks in some of the most popular trader chat rooms in 2021, <a href=\"https://laohu8.com/S/SOFI\"><b>SoFi</b></a>, went public through a Chamath Palihapitiya-backed SPAC last year (this was &#34;IPOE&#34; for those who follow Palihapitiya). It started out as a private student loan company but has since evolved into a financial ecosystem, complete with a full lineup of lending products, a credit card, a bank account, a brokerage account, and more. The company also owns the Galileo financial services API and payments platform, which provides functionality for 89 million financial accounts operated by partners.</p><p>To say SoFi&#39;s growth has been phenomenal would be an understatement. Thefintech&#39;suser base has nearly doubled over the past year to more than 2.9 million members, and these users account for roughly 4.3 million different financial products. And it&#39;s on the non-lending side of the business where the growth has been especially impressive, with a 179% year-over-year increase in products as of the third quarter of 2021.</p><p>SoFi has the capability to be a true disruptor of the traditional bank model and is making all the right moves to scale its business in a sustainable way. With shares down 36% in the last two months, now could be a great time to add it at a discount.</p><p><b>The most exciting growth is yet to come</b></p><p>Last but certainly not least, insurance disruptor <a href=\"https://laohu8.com/S/LMND\"><b>Lemonade</b></a> has been a big victim of the recent growth stock headwinds, with shares down by about 35% in the past couple of months and a total of 80% off their all-time high.</p><p>Lemonade is aninsurance technology company, aiming to provide a better way to get insurance quotes, buy policies, and submit claims. In the company&#39;s core business of renters and homeowners insurance, customer feedback has been incredibly strong.</p><p>However, it&#39;s the rollout of Lemonade Car, the company&#39;s much-anticipated auto insurance product -- along with the pending acquisition of <b>Metromile</b>(NASDAQ:MILE)-- where Lemonade could accelerate the availability of the product and rapidly scale the business. If the company can replicate its early insurance success in the auto space, and can keep loss ratios in check, Lemonade could be a big winner for patient investors.</p><p>Remember what you&#39;re buying</p><p>To be sure, these three stocks are real businesses with great long-term growth opportunities. However, it&#39;s important to keep in mind that while the &#34;meme stock&#34; craze has died down, that doesn&#39;t mean it has permanently gone away. And if it comes back, all three of these stocks are likely to experience quite a roller coaster ride. Before you add any of these to your portfolio, it&#39;s important to be prepared for that possibility.</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>3 Meme Stocks That Are Actually Solid Long-Term Picks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Meme Stocks That Are Actually Solid Long-Term Picks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-14 19:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/14/3-meme-stocks-that-are-actually-solid-long-term-pi/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The meme stock craze of 2021 was certainly a historically unique market environment. Many stocks, some heavily shorted and some just interesting speculative growth plays, rocketed sharply higher -- ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/14/3-meme-stocks-that-are-actually-solid-long-term-pi/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OPAD":"Offerpad Solutions","LMND":"Lemonade, Inc.","AMC":"AMC院线","SOFI":"SoFi Technologies Inc."},"source_url":"https://www.fool.com/investing/2022/01/14/3-meme-stocks-that-are-actually-solid-long-term-pi/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144666508","content_text":"The meme stock craze of 2021 was certainly a historically unique market environment. Many stocks, some heavily shorted and some just interesting speculative growth plays, rocketed sharply higher -- often doubling, tripling, or more in a very short time. And many took investors on quite a roller coaster ride for months.To be sure, most meme stocks aren't worth buying as long-term investments. For example, it's tough to make a long-term investment case for AMC Entertainment. On the other hand, there are some stocks that got caught up in the meme stock trade that looks like solid long-term investments. And this is especially true now that there's been a massive correction in many high-growth stocks.A massive opportunity and a great strategyOfferpad(NYSE:OPAD) is a real estate company that is a so-called iBuyer, or instant buyer, of homes. Offerpad's core business involves buying homes directly from sellers, doing cosmetic repairs, and then selling them directly to buyers, hopefully earning a profit in the process.However, there are a couple of things that set Offerpad apart from its peer group (which really only consists of two other companies). For one thing, Offerpad is the only iBuyer that is more focused on efficiency than all-out growth. Its unit economics have been better than those of its peers, and while it won't be consistently profitable for some time, it isn't that far from it right now.Second, Offerpad isn't necessarily trying to completely replace open-market home sales. Its Offerpad Flex product encourages customers to list their home on the open market (with an Offerpad partner agent) and gives them a cash offer to keep in their back pocket in the event they get tired of the traditional sale process.Offerpad went a bit meme-stockish after its late 2021 special purpose acquisition company (SPAC) merger was completed, at one point rocketing to nearly $21 from its $10 pre-SPAC valuation. Now that the SPAC boom has cooled, Offerpad has plunged to less than $6, in line with many other recent SPAC targets. But make no mistake -- this is a real business with a huge market opportunity.Tons of disruptive potentialOne of the most discussed stocks in some of the most popular trader chat rooms in 2021, SoFi, went public through a Chamath Palihapitiya-backed SPAC last year (this was \"IPOE\" for those who follow Palihapitiya). It started out as a private student loan company but has since evolved into a financial ecosystem, complete with a full lineup of lending products, a credit card, a bank account, a brokerage account, and more. The company also owns the Galileo financial services API and payments platform, which provides functionality for 89 million financial accounts operated by partners.To say SoFi's growth has been phenomenal would be an understatement. Thefintech'suser base has nearly doubled over the past year to more than 2.9 million members, and these users account for roughly 4.3 million different financial products. And it's on the non-lending side of the business where the growth has been especially impressive, with a 179% year-over-year increase in products as of the third quarter of 2021.SoFi has the capability to be a true disruptor of the traditional bank model and is making all the right moves to scale its business in a sustainable way. With shares down 36% in the last two months, now could be a great time to add it at a discount.The most exciting growth is yet to comeLast but certainly not least, insurance disruptor Lemonade has been a big victim of the recent growth stock headwinds, with shares down by about 35% in the past couple of months and a total of 80% off their all-time high.Lemonade is aninsurance technology company, aiming to provide a better way to get insurance quotes, buy policies, and submit claims. In the company's core business of renters and homeowners insurance, customer feedback has been incredibly strong.However, it's the rollout of Lemonade Car, the company's much-anticipated auto insurance product -- along with the pending acquisition of Metromile(NASDAQ:MILE)-- where Lemonade could accelerate the availability of the product and rapidly scale the business. If the company can replicate its early insurance success in the auto space, and can keep loss ratios in check, Lemonade could be a big winner for patient investors.Remember what you're buyingTo be sure, these three stocks are real businesses with great long-term growth opportunities. However, it's important to keep in mind that while the \"meme stock\" craze has died down, that doesn't mean it has permanently gone away. And if it comes back, all three of these stocks are likely to experience quite a roller coaster ride. Before you add any of these to your portfolio, it's important to be prepared for that possibility.","news_type":1},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9002630026,"gmtCreate":1641989012930,"gmtModify":1676533669175,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9002630026","repostId":"1144835240","repostType":4,"repost":{"id":"1144835240","kind":"news","pubTimestamp":1641988544,"share":"https://ttm.financial/m/news/1144835240?lang=&edition=fundamental","pubTime":"2022-01-12 19:55","market":"us","language":"en","title":"Tesla leading autos 'biggest transformation since the 1950s': Wedbush's Ives","url":"https://stock-news.laohu8.com/highlight/detail?id=1144835240","media":"finance.yahoo","summary":"Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note.Bett","content":"<html><head></head><body><p>Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note.</p><p>Better-than expected fourth quarter delivery figures spurred investors to remain bullish on Tesla&#39;s stock, while the electric vehicle (EV) maker’s new Gigafactory in Austin, Texas preps for production this month.</p><p>“We&#39;re seeing, it&#39;s a $5 trillion market opportunity in terms of EV and it&#39;s the biggest transformation to the auto industry since the 1950s,&#34; Dan Ives, Wedbush’s senior equity analyst, told Yahoo Finance on Tuesday.</p><p>However, Tesla&#39;s bull case going forward &#34;continues to be expanding supply,” he added. “Based on all of our work in and around Austin, we think starting next week we&#39;re going to get into the early stages of what I believe are cars rolling off the plant,” Ives said.</p><p>While there’s been no formal announcement of the Austin factory opening,all eyes are there and on Berlin, opportunities some analysts view could expand capacity for the EV manufacturer. Wall Street is expecting an update on the company’s conference call later on this month.</p><p>“When you look at Austin in particular, it&#39;s been very smooth in terms of the build out,” Ives said.</p><p>“Hiring has been very strong over the last few months, and that&#39;s why Musk has made such a bet on Austin in terms of that being really the golden jewel of the ecosystem,” the analyst added.</p><p><b>Tesla walks a &#39;tight rope&#39;</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58bf0a3f1f118850fa7e464ad79e3998\" tg-width=\"705\" tg-height=\"470\" width=\"100%\" height=\"auto\"/><span>Tesla Inc CEO Elon Musk and Grace Tao, Tesla&#39;s vice president for external relations, attend a delivery ceremony for the electric vehicle (EV) maker&#39;s China-made Model 3 cars in Shanghai, China January 7, 2020. Picture taken January 7, 2020. REUTERS/Aly Song</span></p><p>Meanwhile, Tesla’s sales numbers for December in China showed another record month of deliveries. The data confirm that almost half of Tesla’s record year of production and deliveries came from GigaFactory Shanghai.</p><p>Tesla sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019,data from the China Passenger Car Association (CPCA) showed on Tuesday. Only 245 units were exported to other markets.</p><p>Like other analysts, Ives believes China remains a growth opportunity for Tesla, expecting China to be “over 40% of deliveries for Tesla in 2022.”</p><p>China’s EV market is dominated by domestic brands, including BYD and Wuling – a local marque that’s part of General Motors (GM).According to Shanghai-based consultancy Automobility, Tesla is only the foreign brand in the top 10.</p><p>“It&#39;s a tight rope in terms of China,” Ives said. “But if you look at what&#39;s happening right now, the China growth story is actually accelerating for Tesla 2022, and that we believe is worth about 500 hours per share of the story. It&#39;s something we believe is underestimated by the Street.”</p><p>Wedbush maintains an “outperform” rating on the stock, with a $1,400 price target and bull price target of $1,800.</p><p>And while more competitors jump into the EV space, Ives argued it&#39;s “not a zero sum game” for Tesla.</p><p>“Ford&#39;s gonna be successful at GM, Lucid, VW in Europe and of course, NIO in China, but overall in EV land is Tesla&#39;s world,&#34; the analyst explained. &#34;Everyone else is paying rent at this point and that&#39;s what we&#39;re seeing&#34; in the near term, Ives added.</p></body></html>","source":"lsy1612507957220","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>Tesla leading autos 'biggest transformation since the 1950s': Wedbush's Ives</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\">\nTesla leading autos 'biggest transformation since the 1950s': Wedbush's Ives\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-12 19:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/tesla-leads-the-biggest-transformation-to-the-auto-industry-since-the-1950-s-dan-ives-says-114718961.html><strong>finance.yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note....</p>\n\n<a href=\"https://finance.yahoo.com/news/tesla-leads-the-biggest-transformation-to-the-auto-industry-since-the-1950-s-dan-ives-says-114718961.html\">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://finance.yahoo.com/news/tesla-leads-the-biggest-transformation-to-the-auto-industry-since-the-1950-s-dan-ives-says-114718961.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144835240","content_text":"Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note.Better-than expected fourth quarter delivery figures spurred investors to remain bullish on Tesla's stock, while the electric vehicle (EV) maker’s new Gigafactory in Austin, Texas preps for production this month.“We're seeing, it's a $5 trillion market opportunity in terms of EV and it's the biggest transformation to the auto industry since the 1950s,\" Dan Ives, Wedbush’s senior equity analyst, told Yahoo Finance on Tuesday.However, Tesla's bull case going forward \"continues to be expanding supply,” he added. “Based on all of our work in and around Austin, we think starting next week we're going to get into the early stages of what I believe are cars rolling off the plant,” Ives said.While there’s been no formal announcement of the Austin factory opening,all eyes are there and on Berlin, opportunities some analysts view could expand capacity for the EV manufacturer. Wall Street is expecting an update on the company’s conference call later on this month.“When you look at Austin in particular, it's been very smooth in terms of the build out,” Ives said.“Hiring has been very strong over the last few months, and that's why Musk has made such a bet on Austin in terms of that being really the golden jewel of the ecosystem,” the analyst added.Tesla walks a 'tight rope'Tesla Inc CEO Elon Musk and Grace Tao, Tesla's vice president for external relations, attend a delivery ceremony for the electric vehicle (EV) maker's China-made Model 3 cars in Shanghai, China January 7, 2020. Picture taken January 7, 2020. REUTERS/Aly SongMeanwhile, Tesla’s sales numbers for December in China showed another record month of deliveries. The data confirm that almost half of Tesla’s record year of production and deliveries came from GigaFactory Shanghai.Tesla sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019,data from the China Passenger Car Association (CPCA) showed on Tuesday. Only 245 units were exported to other markets.Like other analysts, Ives believes China remains a growth opportunity for Tesla, expecting China to be “over 40% of deliveries for Tesla in 2022.”China’s EV market is dominated by domestic brands, including BYD and Wuling – a local marque that’s part of General Motors (GM).According to Shanghai-based consultancy Automobility, Tesla is only the foreign brand in the top 10.“It's a tight rope in terms of China,” Ives said. “But if you look at what's happening right now, the China growth story is actually accelerating for Tesla 2022, and that we believe is worth about 500 hours per share of the story. It's something we believe is underestimated by the Street.”Wedbush maintains an “outperform” rating on the stock, with a $1,400 price target and bull price target of $1,800.And while more competitors jump into the EV space, Ives argued it's “not a zero sum game” for Tesla.“Ford's gonna be successful at GM, Lucid, VW in Europe and of course, NIO in China, but overall in EV land is Tesla's world,\" the analyst explained. \"Everyone else is paying rent at this point and that's what we're seeing\" in the near term, Ives added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9002032753,"gmtCreate":1641861064837,"gmtModify":1676533655677,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9002032753","repostId":"1168998448","repostType":4,"repost":{"id":"1168998448","kind":"news","pubTimestamp":1641859692,"share":"https://ttm.financial/m/news/1168998448?lang=&edition=fundamental","pubTime":"2022-01-11 08:08","market":"us","language":"en","title":"Apple in Talks to Cover Major League Baseball - Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1168998448","media":"Seeking Alpha","summary":"Apple(NASDAQ:AAPL)has held \"substantial\" talks with Major League Baseball about broadcasting games n","content":"<html><head></head><body><ul><li>Apple(NASDAQ:AAPL)has held &#34;substantial&#34; talks with Major League Baseball about broadcasting games next season on Apple TV+, the <i>New York Post</i> reports.</li><li>That would fulfill some broadcasting observers&#39; long-held ambitions for Apple - but more importantly, it would help Apple keep pace with all the new-tech entrants into sports coverage, notably Amazon.com(NASDAQ:AMZN), which has been making NFL inroads with streaming.</li><li>The package MLB is selling is the weekday national games recently given up by ESPN(NYSE:DIS), which elected to forgo regular Monday and Wednesday games.</li><li>MLB has also talked to Amazon as well as Barstool Sports, according to the report.</li><li>The discussion comes in the middle of a baseball labor lockout, which would need to be resolved before there are games at all in 2022. But Apple and MLB have a long working relationship: The MLB app was one of the first on Apple&#39;s App Store in 2008.</li><li>Apple TV+ has broken through into a world of streaming ratings usually dominated by Netflix on the back of its hit series <i>Ted Lasso.</i></li></ul></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple in Talks to Cover Major League Baseball - Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple in Talks to Cover Major League Baseball - Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-11 08:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3786883-apple-in-talks-to-cover-major-league-baseball-report><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple(NASDAQ:AAPL)has held \"substantial\" talks with Major League Baseball about broadcasting games next season on Apple TV+, the New York Post reports.That would fulfill some broadcasting observers' ...</p>\n\n<a href=\"https://seekingalpha.com/news/3786883-apple-in-talks-to-cover-major-league-baseball-report\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/news/3786883-apple-in-talks-to-cover-major-league-baseball-report","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168998448","content_text":"Apple(NASDAQ:AAPL)has held \"substantial\" talks with Major League Baseball about broadcasting games next season on Apple TV+, the New York Post reports.That would fulfill some broadcasting observers' long-held ambitions for Apple - but more importantly, it would help Apple keep pace with all the new-tech entrants into sports coverage, notably Amazon.com(NASDAQ:AMZN), which has been making NFL inroads with streaming.The package MLB is selling is the weekday national games recently given up by ESPN(NYSE:DIS), which elected to forgo regular Monday and Wednesday games.MLB has also talked to Amazon as well as Barstool Sports, according to the report.The discussion comes in the middle of a baseball labor lockout, which would need to be resolved before there are games at all in 2022. But Apple and MLB have a long working relationship: The MLB app was one of the first on Apple's App Store in 2008.Apple TV+ has broken through into a world of streaming ratings usually dominated by Netflix on the back of its hit series Ted Lasso.","news_type":1},"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9981824780,"gmtCreate":1666480954941,"gmtModify":1676537758986,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/9981824780","repostId":"2277875062","repostType":4,"repost":{"id":"2277875062","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1666403370,"share":"https://ttm.financial/m/news/2277875062?lang=&edition=fundamental","pubTime":"2022-10-22 09:49","market":"us","language":"en","title":"Snap Sets off Alarm Bells in Ad-Reliant Social Media Sector","url":"https://stock-news.laohu8.com/highlight/detail?id=2277875062","media":"Reuters","summary":"(Reuters) - Snap Inc shares sank nearly 30 per cent in premarket trading on Friday, after the company's forecast of zero revenue pointed to more pain ahead for a social media sector heavily dependant on digital advertising.YouTube-parent Alphabet Inc, Facebook-parent Meta Platform Inc and Pinte ...","content":"<html><head></head><body><p>(Reuters) - <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a> shares sank more than 28% on Friday and hit their lowest since the pandemic, after the company&#39;s forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising.<img src=\"https://static.tigerbbs.com/e5e4219b7190352d46246365fc9fd8df\" tg-width=\"857\" tg-height=\"672\" referrerpolicy=\"no-referrer\"/></p><p>Facebook-parent <a href=\"https://laohu8.com/S/META\">Meta Platform Inc</a> and <a href=\"https://laohu8.com/S/PINS\">Pinterest Inc</a> fell between 1% and 6%. <a href=\"https://laohu8.com/S/TWTR\">Twitter Inc</a> slid 4.86%, also dragged by fears of security reviews of billionaire Elon Musk&#39;s takeover bid.</p><p>Analysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7. In early trading the stock hit its lowest since early 2019.</p><p>The digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap&#39;s warning exacerbated those fears.</p><p>&#34;This truly is a cautionary tale ... advertisers might show that we&#39;re already in a recession because of their unwillingness to spend on these smaller platforms,&#34; said Bokeh Capital Partners&#39; Kim Forrest.</p><p>So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc&#39;s privacy changes to its iOS platform that allows users to opt out of data tracking.</p><p>Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast no revenue growth for the typically busy holiday quarter.</p><p><b>SNAP&#39;S WOES</b></p><p>Advertisers have relied on Snap&#39;s platform to tap into its popularity among teens and young adults.</p><p>But Apple&#39;s privacy changes have made it more difficult to track and measure ads on Snapchat, causing major brands to shift their ad spending to bigger platforms that reach more people.</p><p>&#34;A challenged macro continues to see ad buyers prioritize their larger, core platforms, namely Google and Meta, as they monitor consumer health,&#34; Bernstein analyst Mark Shmulik said, adding that ad buyers reducing their spend particularly on smaller experimental platforms.</p><p>Snap&#39;s stock has lost about 77 per cent of its value so far this year, while Alphabet, Meta and Pinterest have lost between 30 per cent and 60 per cent. Twitter, however, has gained 21 per cent on the prospect of billionaire Musk buying the company.</p><p>&#34;We now believe that Snap will have difficulty remaining under control of its own destiny over the next six to nine months,&#34; MKM Partners analyst Rohit Kulkarni said.</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>Snap Sets off Alarm Bells in Ad-Reliant Social Media Sector</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\">\nSnap Sets off Alarm Bells in Ad-Reliant Social Media Sector\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-10-22 09:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - <a href=\"https://laohu8.com/S/SNAP\">Snap Inc</a> shares sank more than 28% on Friday and hit their lowest since the pandemic, after the company&#39;s forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising.<img src=\"https://static.tigerbbs.com/e5e4219b7190352d46246365fc9fd8df\" tg-width=\"857\" tg-height=\"672\" referrerpolicy=\"no-referrer\"/></p><p>Facebook-parent <a href=\"https://laohu8.com/S/META\">Meta Platform Inc</a> and <a href=\"https://laohu8.com/S/PINS\">Pinterest Inc</a> fell between 1% and 6%. <a href=\"https://laohu8.com/S/TWTR\">Twitter Inc</a> slid 4.86%, also dragged by fears of security reviews of billionaire Elon Musk&#39;s takeover bid.</p><p>Analysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7. In early trading the stock hit its lowest since early 2019.</p><p>The digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap&#39;s warning exacerbated those fears.</p><p>&#34;This truly is a cautionary tale ... advertisers might show that we&#39;re already in a recession because of their unwillingness to spend on these smaller platforms,&#34; said Bokeh Capital Partners&#39; Kim Forrest.</p><p>So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc&#39;s privacy changes to its iOS platform that allows users to opt out of data tracking.</p><p>Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast no revenue growth for the typically busy holiday quarter.</p><p><b>SNAP&#39;S WOES</b></p><p>Advertisers have relied on Snap&#39;s platform to tap into its popularity among teens and young adults.</p><p>But Apple&#39;s privacy changes have made it more difficult to track and measure ads on Snapchat, causing major brands to shift their ad spending to bigger platforms that reach more people.</p><p>&#34;A challenged macro continues to see ad buyers prioritize their larger, core platforms, namely Google and Meta, as they monitor consumer health,&#34; Bernstein analyst Mark Shmulik said, adding that ad buyers reducing their spend particularly on smaller experimental platforms.</p><p>Snap&#39;s stock has lost about 77 per cent of its value so far this year, while Alphabet, Meta and Pinterest have lost between 30 per cent and 60 per cent. Twitter, however, has gained 21 per cent on the prospect of billionaire Musk buying the company.</p><p>&#34;We now believe that Snap will have difficulty remaining under control of its own destiny over the next six to nine months,&#34; MKM Partners analyst Rohit Kulkarni said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PINS":"Pinterest, Inc.","TWTR":"Twitter","SNAP":"Snap Inc","META":"Meta Platforms, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277875062","content_text":"(Reuters) - Snap Inc shares sank more than 28% on Friday and hit their lowest since the pandemic, after the company's forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising.Facebook-parent Meta Platform Inc and Pinterest Inc fell between 1% and 6%. Twitter Inc slid 4.86%, also dragged by fears of security reviews of billionaire Elon Musk's takeover bid.Analysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7. In early trading the stock hit its lowest since early 2019.The digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap's warning exacerbated those fears.\"This truly is a cautionary tale ... advertisers might show that we're already in a recession because of their unwillingness to spend on these smaller platforms,\" said Bokeh Capital Partners' Kim Forrest.So far this year, digital ad companies have together lost roughly $1 trillion in value, hit by intense competition from TikTok and challenges from Apple Inc's privacy changes to its iOS platform that allows users to opt out of data tracking.Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast no revenue growth for the typically busy holiday quarter.SNAP'S WOESAdvertisers have relied on Snap's platform to tap into its popularity among teens and young adults.But Apple's privacy changes have made it more difficult to track and measure ads on Snapchat, causing major brands to shift their ad spending to bigger platforms that reach more people.\"A challenged macro continues to see ad buyers prioritize their larger, core platforms, namely Google and Meta, as they monitor consumer health,\" Bernstein analyst Mark Shmulik said, adding that ad buyers reducing their spend particularly on smaller experimental platforms.Snap's stock has lost about 77 per cent of its value so far this year, while Alphabet, Meta and Pinterest have lost between 30 per cent and 60 per cent. Twitter, however, has gained 21 per cent on the prospect of billionaire Musk buying the company.\"We now believe that Snap will have difficulty remaining under control of its own destiny over the next six to nine months,\" MKM Partners analyst Rohit Kulkarni said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9981973576,"gmtCreate":1666395208095,"gmtModify":1676537750453,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9981973576","repostId":"2277473668","repostType":4,"repost":{"id":"2277473668","kind":"highlight","pubTimestamp":1666394795,"share":"https://ttm.financial/m/news/2277473668?lang=&edition=fundamental","pubTime":"2022-10-22 07:26","market":"us","language":"en","title":"77% of Warren Buffett's $313 Billion Portfolio is Invested in These 6 Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2277473668","media":"Motley Fool","summary":"The Oracle of Omaha is a big believer that portfolio concentration drives wealth creation.","content":"<html><head></head><body><p>Few high-profile money managers have a nose for making money quite like Berkshire Hathaway CEO Warren Buffett. In the 57 years since taking the reins, the Oracle of Omaha, as he&#39;s come to be known, has led his company&#39;s Class A shares (BRK.A) to a jaw-dropping average annual return of 20.1%.</p><p>Buffett&#39;s willingness to stick with his investments for many years (if not decades) and his love of dividend stocks are two reasons he&#39;s been such a successful investor. But a key ingredient to Buffett&#39;s success that&#39;s often overlooked is his portfolio concentration.</p><p>The Oracle of Omaha believes diversification is &#34;protection against ignorance.&#34; In other words, buying a boatload of stocks makes sense only if you don&#39;t know what you&#39;re doing, according to Buffett. Although Berkshire Hathaway&#39;s $313 billion investment portfolio has stakes in around four dozen securities, more than $241 billion of invested assets -- 77% of total portfolio value -- is tied up in just six stocks.</p><h3>1. <a href=\"https://laohu8.com/S/AAPL\">Apple</a>: 40.5% of invested assets</h3><p>Warren Buffett&#39;s love for portfolio concentration is readily on display with his company&#39;s position in <a href=\"https://laohu8.com/S/AAPL\">Apple</a>. The tech stock makes up an astounding 40.5% ($126.6 billion) of invested assets and has been labeled by the Oracle of Omaha as one of Berkshire Hathaway&#39;s &#34;four giants.&#34;</p><p>There is a long list of reasons for Buffett and his investment team to have such strong convictions in Apple. This includes having a well-known brand, an exceptionally loyal customer base, and a product and service lineup driven by innovation. For instance, introducing 5G-capable iPhones has helped Apple maintain approximately half of the U.S. smartphone market share.</p><p>Apple&#39;s evolution has also seen it become a force in the subscription services space. This ongoing transformation to a platform-based operating model should accelerate its organic growth rate, boost its operating margin, and minimize the revenue fluctuations associated with physical product replacement cycles.</p><p>As one final note, Apple&#39;s capital return program is unmatched. It pays out nearly $14.8 billion in dividends annually and has repurchased roughly $520 billion of its own common stock since the beginning of 2013.</p><p><img src=\"https://static.tigerbbs.com/e7003706e2028bde743b3cdeda783ff2\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/></p><p>Rising interest rates are a tailwind for banks with outstanding variable-rate loans. Effective Federal Funds Rate data by YCharts.</p><h3>2. <a href=\"https://laohu8.com/S/BAC\">Bank of America</a>: 10.5% of invested assets</h3><p>Though Apple is Berkshire Hathaway&#39;s largest holding by a significant amount, bank stocks will forever be Warren Buffett&#39;s favorite industry. The $32.7 billion invested in money-center giant <a href=\"https://laohu8.com/S/BAC\">Bank of America</a> is no surprise at all.</p><p>The beauty of bank stocks is their cyclical ties. Even though recessions are an inevitable part of the economic cycle, they&#39;re usually short-lived. By comparison, periods of economic expansion almost always last for years. Banks benefit from disproportionately long periods of expansion by growing their loans and deposits. It&#39;s a simple numbers game that favors patient investors like Buffett.</p><p>On a more company-specific level, Bank of America is the most interest-sensitive of the big banks. When the interest rate yield curve shifts, no bank sees its net interest income rise or fall more than BofA. With the Federal Reserve aggressively raising interest rates to tame historically high inflation, Bank of America can expect billions of dollars in added net interest income on its outstanding variable-rate loans.</p><p>BofA has a sizable capital return program as well. During bull markets, it&#39;s not uncommon for the company to return in excess of $20 billion to shareholders annually via dividends and buybacks.</p><h3>3. <a href=\"https://laohu8.com/S/CVX\">Chevron</a>: 8.4% of invested assets</h3><p>Integrated oil and gas company <a href=\"https://laohu8.com/S/CVX\">Chevron</a> is Berkshire Hathaway&#39;s third-largest holding ($26.2 billion of invested assets) and a relatively newer addition to the portfolio.</p><p>Betting big on energy isn&#39;t something Warren Buffett is known for. However, certain factors do suggest that energy commodity prices could remain elevated for years to come. Russia&#39;s invasions of Ukraine, coupled with global energy majors&#39; significant reduction in capital investment during the COVID-19 pandemic, will make it difficult to quickly boost the global supply of crude oil and natural gas.</p><p>Another selling point for Chevron is its operating structure. Being &#34;integrated&#34; means Chevron controls upstream (drilling and exploration), midstream (transmission pipeline), and downstream (chemical plants and refineries) assets. While drilling brings home the juiciest operating margin, the company&#39;s midstream assets can generate highly predictable cash flow. Meanwhile, downstream assets benefit from lower input costs when crude falls. In short, downstream assets act as a hedge against falling prices.</p><p>You shouldn&#39;t be shocked to learn that Chevron is also quite generous with its capital return program. Chevron has raised its base annual payout for 35 consecutive years, and the company may repurchase up to $15 billion of its shares this year.</p><h3>4. <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a>: 7% of invested assets</h3><p>Beverage behemoth <a href=\"https://laohu8.com/S/KO\">Coca-Cola</a> is Warren Buffett&#39;s longest-tenured holding (34 years), as well as Berkshire&#39;s fourth-largest position by market value ($22 billion).</p><p>Strong branding plays a key role in Coke&#39;s long-term outperformance. Few companies on the planet can cross generational gaps with ease and connect with consumers. Coca-Cola can do this by utilizing social media and well-known ambassadors to reach younger consumers while leaning on its holiday tie-ins to connect with more mature audiences.</p><p>Coca-Cola&#39;s geographic diversity is another reason for its bubbling success. With the exception of Cuba, North Korea, and Russia (the latter is due to its invasion of Ukraine), Coke has operations in every country worldwide. It holds about a 20% share of the cold beverage market in developed countries, which produce predictable cash flow, and a 10% share of the cold beverage space in faster-growing emerging markets.</p><p>Coca-Cola is a big-time dividend payer, too, with a 60-year streak of increasing its base annual payout. More importantly, Berkshire is netting an amazing 54% yield on Coca-Cola relative to its initial cost basis of about $3.25 per share.</p><h3>5. <a href=\"https://laohu8.com/S/AXP\">American Express</a>: 6.6% of invested assets</h3><p>Have I mentioned Warren Buffett likes financial stocks? Second only to Coca-Cola in a continuous holding period is financial services company <a href=\"https://laohu8.com/S/AXP\">American Express</a>. AmEx, as it&#39;s better known, has been a Berkshire Hathaway staple for the past 29 years.</p><p>Similar to Bank of America, AmEx benefits from long periods of economic expansion. Specifically, it&#39;s able to &#34;double dip.&#34; In addition to collecting payment processing fees from merchants, it acts as a lender via credit cards. Lengthy bull markets give AmEx an opportunity to generate interest income and fees.</p><p>Buffett should also be happy with AmEx&#39;s ability to attract affluent clientele. High-earning individuals are less likely to alter their spending habits or fail to meet their repayment obligations during minor domestic or global economic hiccups. These well-to-do customers help AmEx navigate downturns better than most lenders.</p><p>Further, American Express is an income powerhouse -- at least to Berkshire Hathaway. Thanks to a low cost basis of $8.49 per AmEx share, Buffett&#39;s company is netting a 24.5% annual yield on cost!</p><h3>6. <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>: 4.1% of invested assets</h3><p>Lastly, Buffett&#39;s company has almost $13 billion invested in integrated oil and gas stock <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>. Note this $13 billion doesn&#39;t include the $10 billion in Occidental preferred stock Berkshire Hathaway purchased in 2019.</p><p>Among these six top holdings, Occidental is the newest and, arguably, the position Buffett has built up most aggressively this year. Pardon the pun, but the catalysts fueling Chevron are the same for Occidental Petroleum. As long as the global energy supply chain remains broken or constrained, demand should provide a healthy floor beneath the price of crude oil and natural gas.</p><p>Though it&#39;s an integrated provider like Chevron, even more of Occidental&#39;s sales are skewed toward its drilling and exploration operations. If oil and natural gas prices remain well above average, Occidental Petroleum has a chance to benefit even more than Chevron.</p><p>To keep with the theme, there&#39;s a handsome capital return in store for Berkshire Hathaway. Though Occidental&#39;s 0.8% dividend yield is nothing to write home about, Berkshire <i>is</i> generating an 8% annual yield on its $10 billion preferred stock position. Altogether, Buffett&#39;s company should collect $901 million in dividend income from Occidental Petroleum over the next 12 months.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>77% of Warren Buffett's $313 Billion Portfolio is Invested in These 6 Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n77% of Warren Buffett's $313 Billion Portfolio is Invested in These 6 Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-22 07:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/10/21/77-warren-buffett-portfolio-invested-in-6-stocks/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Few high-profile money managers have a nose for making money quite like Berkshire Hathaway CEO Warren Buffett. In the 57 years since taking the reins, the Oracle of Omaha, as he's come to be known, ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/10/21/77-warren-buffett-portfolio-invested-in-6-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AXP":"美国运通","AAPL":"苹果","BRK.A":"伯克希尔","CVX":"雪佛龙","BAC":"美国银行","BRK.B":"伯克希尔B","KO":"可口可乐","OXY":"西方石油"},"source_url":"https://www.fool.com/investing/2022/10/21/77-warren-buffett-portfolio-invested-in-6-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2277473668","content_text":"Few high-profile money managers have a nose for making money quite like Berkshire Hathaway CEO Warren Buffett. In the 57 years since taking the reins, the Oracle of Omaha, as he's come to be known, has led his company's Class A shares (BRK.A) to a jaw-dropping average annual return of 20.1%.Buffett's willingness to stick with his investments for many years (if not decades) and his love of dividend stocks are two reasons he's been such a successful investor. But a key ingredient to Buffett's success that's often overlooked is his portfolio concentration.The Oracle of Omaha believes diversification is \"protection against ignorance.\" In other words, buying a boatload of stocks makes sense only if you don't know what you're doing, according to Buffett. Although Berkshire Hathaway's $313 billion investment portfolio has stakes in around four dozen securities, more than $241 billion of invested assets -- 77% of total portfolio value -- is tied up in just six stocks.1. Apple: 40.5% of invested assetsWarren Buffett's love for portfolio concentration is readily on display with his company's position in Apple. The tech stock makes up an astounding 40.5% ($126.6 billion) of invested assets and has been labeled by the Oracle of Omaha as one of Berkshire Hathaway's \"four giants.\"There is a long list of reasons for Buffett and his investment team to have such strong convictions in Apple. This includes having a well-known brand, an exceptionally loyal customer base, and a product and service lineup driven by innovation. For instance, introducing 5G-capable iPhones has helped Apple maintain approximately half of the U.S. smartphone market share.Apple's evolution has also seen it become a force in the subscription services space. This ongoing transformation to a platform-based operating model should accelerate its organic growth rate, boost its operating margin, and minimize the revenue fluctuations associated with physical product replacement cycles.As one final note, Apple's capital return program is unmatched. It pays out nearly $14.8 billion in dividends annually and has repurchased roughly $520 billion of its own common stock since the beginning of 2013.Rising interest rates are a tailwind for banks with outstanding variable-rate loans. Effective Federal Funds Rate data by YCharts.2. Bank of America: 10.5% of invested assetsThough Apple is Berkshire Hathaway's largest holding by a significant amount, bank stocks will forever be Warren Buffett's favorite industry. The $32.7 billion invested in money-center giant Bank of America is no surprise at all.The beauty of bank stocks is their cyclical ties. Even though recessions are an inevitable part of the economic cycle, they're usually short-lived. By comparison, periods of economic expansion almost always last for years. Banks benefit from disproportionately long periods of expansion by growing their loans and deposits. It's a simple numbers game that favors patient investors like Buffett.On a more company-specific level, Bank of America is the most interest-sensitive of the big banks. When the interest rate yield curve shifts, no bank sees its net interest income rise or fall more than BofA. With the Federal Reserve aggressively raising interest rates to tame historically high inflation, Bank of America can expect billions of dollars in added net interest income on its outstanding variable-rate loans.BofA has a sizable capital return program as well. During bull markets, it's not uncommon for the company to return in excess of $20 billion to shareholders annually via dividends and buybacks.3. Chevron: 8.4% of invested assetsIntegrated oil and gas company Chevron is Berkshire Hathaway's third-largest holding ($26.2 billion of invested assets) and a relatively newer addition to the portfolio.Betting big on energy isn't something Warren Buffett is known for. However, certain factors do suggest that energy commodity prices could remain elevated for years to come. Russia's invasions of Ukraine, coupled with global energy majors' significant reduction in capital investment during the COVID-19 pandemic, will make it difficult to quickly boost the global supply of crude oil and natural gas.Another selling point for Chevron is its operating structure. Being \"integrated\" means Chevron controls upstream (drilling and exploration), midstream (transmission pipeline), and downstream (chemical plants and refineries) assets. While drilling brings home the juiciest operating margin, the company's midstream assets can generate highly predictable cash flow. Meanwhile, downstream assets benefit from lower input costs when crude falls. In short, downstream assets act as a hedge against falling prices.You shouldn't be shocked to learn that Chevron is also quite generous with its capital return program. Chevron has raised its base annual payout for 35 consecutive years, and the company may repurchase up to $15 billion of its shares this year.4. Coca-Cola: 7% of invested assetsBeverage behemoth Coca-Cola is Warren Buffett's longest-tenured holding (34 years), as well as Berkshire's fourth-largest position by market value ($22 billion).Strong branding plays a key role in Coke's long-term outperformance. Few companies on the planet can cross generational gaps with ease and connect with consumers. Coca-Cola can do this by utilizing social media and well-known ambassadors to reach younger consumers while leaning on its holiday tie-ins to connect with more mature audiences.Coca-Cola's geographic diversity is another reason for its bubbling success. With the exception of Cuba, North Korea, and Russia (the latter is due to its invasion of Ukraine), Coke has operations in every country worldwide. It holds about a 20% share of the cold beverage market in developed countries, which produce predictable cash flow, and a 10% share of the cold beverage space in faster-growing emerging markets.Coca-Cola is a big-time dividend payer, too, with a 60-year streak of increasing its base annual payout. More importantly, Berkshire is netting an amazing 54% yield on Coca-Cola relative to its initial cost basis of about $3.25 per share.5. American Express: 6.6% of invested assetsHave I mentioned Warren Buffett likes financial stocks? Second only to Coca-Cola in a continuous holding period is financial services company American Express. AmEx, as it's better known, has been a Berkshire Hathaway staple for the past 29 years.Similar to Bank of America, AmEx benefits from long periods of economic expansion. Specifically, it's able to \"double dip.\" In addition to collecting payment processing fees from merchants, it acts as a lender via credit cards. Lengthy bull markets give AmEx an opportunity to generate interest income and fees.Buffett should also be happy with AmEx's ability to attract affluent clientele. High-earning individuals are less likely to alter their spending habits or fail to meet their repayment obligations during minor domestic or global economic hiccups. These well-to-do customers help AmEx navigate downturns better than most lenders.Further, American Express is an income powerhouse -- at least to Berkshire Hathaway. Thanks to a low cost basis of $8.49 per AmEx share, Buffett's company is netting a 24.5% annual yield on cost!6. Occidental Petroleum: 4.1% of invested assetsLastly, Buffett's company has almost $13 billion invested in integrated oil and gas stock Occidental Petroleum. Note this $13 billion doesn't include the $10 billion in Occidental preferred stock Berkshire Hathaway purchased in 2019.Among these six top holdings, Occidental is the newest and, arguably, the position Buffett has built up most aggressively this year. Pardon the pun, but the catalysts fueling Chevron are the same for Occidental Petroleum. As long as the global energy supply chain remains broken or constrained, demand should provide a healthy floor beneath the price of crude oil and natural gas.Though it's an integrated provider like Chevron, even more of Occidental's sales are skewed toward its drilling and exploration operations. If oil and natural gas prices remain well above average, Occidental Petroleum has a chance to benefit even more than Chevron.To keep with the theme, there's a handsome capital return in store for Berkshire Hathaway. Though Occidental's 0.8% dividend yield is nothing to write home about, Berkshire is generating an 8% annual yield on its $10 billion preferred stock position. Altogether, Buffett's company should collect $901 million in dividend income from Occidental Petroleum over the next 12 months.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9989443605,"gmtCreate":1666068484407,"gmtModify":1676537700640,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9989443605","repostId":"2276154612","repostType":2,"repost":{"id":"2276154612","kind":"highlight","pubTimestamp":1666062815,"share":"https://ttm.financial/m/news/2276154612?lang=&edition=fundamental","pubTime":"2022-10-18 11:13","market":"us","language":"en","title":"Oversold Conditions Grant a Mega Buying Opportunity","url":"https://stock-news.laohu8.com/highlight/detail?id=2276154612","media":"InvestorPlace","summary":"The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we're ","content":"<html><head></head><body><ul><li>The S&amp;P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we&#39;re oversold today.</li><li>This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes.</li><li>Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash.</li></ul><p>Stocks don’t rise forever. They also don’t fall forever. </p><p>While everything you read on Twitter and see on CNBC these days will likely make you feel like this stock market crash will never end, you need to know that at some point, it will. And when it does, <b>we’re going to get a generational buying opportunity</b>. </p><p>One closely watched technical indicator suggests the stock market crash could end quite soon. </p><p>This indicator has flashed twice recently. It also flashed at the stock market bottoms of March 2020, March 2009, and November 2002. </p><p>That’s right. This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes. Now, <b>it’s predicting the end of the 2022 market crash.</b> </p><p>If right again, this indicator could be your “<b><i>golden ticket</i></b>” to market fortunes over the next year. </p><p>Here’s a deeper look. </p><h2>Current Oversold Conditions</h2><p>The indicator we’re talking about is the <b>weekly Relative Strength Index </b>for the <b>S&amp;P 500</b>. </p><p>This metric gauges the weekly buying pressure in the stock market. And it tells us how overbought or oversold stocks are in any given week using a reading from 0 to 100. Overbought conditions are typically quantified by levels over 70. Oversold conditions are typically quantified by levels less than 30. </p><p><b>We’re oversold today.</b> Not at this exact moment – but back at the summer lows, the weekly RSI on the S&amp;P 500 dropped to 30 for the first time since March 2020. </p><p>That’s noteworthy because the stock market rarely spends time as oversold. The S&amp;P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years. That means the market has been oversold on a weekly basis only 1.5% of the time. </p><p>Weekly oversold conditions in the market are incredibly rare. <b><i>They’re also incredibly bullish.</i></b></p><p>Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash. Indeed, 90% of the time, stocks are higher 12 months later – and not by a little. The average gain in the 12 months following a weekly oversold reading is about 24%! </p><p><img src=\"https://static.tigerbbs.com/11c721368d5b636be0142d8ea2614b63\" tg-width=\"624\" tg-height=\"281\" width=\"100%\" height=\"auto\"/>Source: Bloomberg</p><p>The only exceptions? Late 1973 and early 2001. But back in 1973, the market was dealing with 10%-plus inflation that was rising rapidly. In 2001, the market was still trading at a very rich valuation multiple of 21X forward earnings. Today, inflation rates are at 8% and falling, while the forward earnings multiple is just 16X – below its 5-, 10-, 20-, and 30-year averages. </p><p>In other words, <b>history says we’re either at or very close to a stock market bottom.</b> It would be unprecedented for stocks to be this oversold and undervalued and keep falling… unless a so-called “black swan” risk emerges. </p><p>And we don’t foresee any of those risks on the horizon. As such, we think that a bottom is close. And so is a <b>generational turning point</b>. </p><h2>The Final Word</h2><p>Bear markets are weird. </p><p>In good times, investors are always telling themselves: “Yeah, when that next stock market crash happens, I’m going to buy the dip and make so much money.” </p><p>Yet, when that next stock market crash does come, that usually doesn’t happen. <b>Instead, we get scared. </b></p><p>And I get it. Bear markets are scary. When stocks are crashing, it seems like there must be a sinister reason for it. Investors fear the worst – as if the economy is about to blow up.</p><p>Of course, it never actually blows up. The economy, the markets, and stocks all take a couple hits and then bounce back. </p><p>The investors who make money during bear markets are the ones who realize this and don’t panic. They are the ones who buy, hold, and wait for better times. </p><p>As it turns out, <b>waiting is actually the most valuable thing you can do in the stock market</b>, especially during bear markets! </p><p>The great Charlie Munger – Warren Buffett’s right-hand man – once said that the big money in the stock market isn’t made in the buying or the selling but in the waiting. </p><p>So, here’s my two cents on this market crash. Buy high-quality growth stocks at huge discounts today… then, wait. </p><p>Sounds simple, I know. But sometimes, the simple answer is the best one. </p><p>That’s certainly true in this situation. </p></body></html>","source":"investorplace","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oversold Conditions Grant a Mega Buying Opportunity</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\">\nOversold Conditions Grant a Mega Buying Opportunity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-18 11:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/hypergrowthinvesting/2022/10/oversold-conditions-grant-a-mega-buying-opportunity/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we're oversold today.This technical indicator successfully predicted the ending of the COVID-19, 2008 ...</p>\n\n<a href=\"https://investorplace.com/hypergrowthinvesting/2022/10/oversold-conditions-grant-a-mega-buying-opportunity/\">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://investorplace.com/hypergrowthinvesting/2022/10/oversold-conditions-grant-a-mega-buying-opportunity/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2276154612","content_text":"The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years -- and we're oversold today.This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes.Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash.Stocks don’t rise forever. They also don’t fall forever. While everything you read on Twitter and see on CNBC these days will likely make you feel like this stock market crash will never end, you need to know that at some point, it will. And when it does, we’re going to get a generational buying opportunity. One closely watched technical indicator suggests the stock market crash could end quite soon. This indicator has flashed twice recently. It also flashed at the stock market bottoms of March 2020, March 2009, and November 2002. That’s right. This technical indicator successfully predicted the ending of the COVID-19, 2008 financial crisis, and dot-com crashes. Now, it’s predicting the end of the 2022 market crash. If right again, this indicator could be your “golden ticket” to market fortunes over the next year. Here’s a deeper look. Current Oversold ConditionsThe indicator we’re talking about is the weekly Relative Strength Index for the S&P 500. This metric gauges the weekly buying pressure in the stock market. And it tells us how overbought or oversold stocks are in any given week using a reading from 0 to 100. Overbought conditions are typically quantified by levels over 70. Oversold conditions are typically quantified by levels less than 30. We’re oversold today. Not at this exact moment – but back at the summer lows, the weekly RSI on the S&P 500 dropped to 30 for the first time since March 2020. That’s noteworthy because the stock market rarely spends time as oversold. The S&P 500’s weekly RSI has been oversold during only 46 weeks over the past 50 years. That means the market has been oversold on a weekly basis only 1.5% of the time. Weekly oversold conditions in the market are incredibly rare. They’re also incredibly bullish.Whenever the market does become oversold on a weekly basis, it tends to be working through a bottoming process after a terrible crash. Indeed, 90% of the time, stocks are higher 12 months later – and not by a little. The average gain in the 12 months following a weekly oversold reading is about 24%! Source: BloombergThe only exceptions? Late 1973 and early 2001. But back in 1973, the market was dealing with 10%-plus inflation that was rising rapidly. In 2001, the market was still trading at a very rich valuation multiple of 21X forward earnings. Today, inflation rates are at 8% and falling, while the forward earnings multiple is just 16X – below its 5-, 10-, 20-, and 30-year averages. In other words, history says we’re either at or very close to a stock market bottom. It would be unprecedented for stocks to be this oversold and undervalued and keep falling… unless a so-called “black swan” risk emerges. And we don’t foresee any of those risks on the horizon. As such, we think that a bottom is close. And so is a generational turning point. The Final WordBear markets are weird. In good times, investors are always telling themselves: “Yeah, when that next stock market crash happens, I’m going to buy the dip and make so much money.” Yet, when that next stock market crash does come, that usually doesn’t happen. Instead, we get scared. And I get it. Bear markets are scary. When stocks are crashing, it seems like there must be a sinister reason for it. Investors fear the worst – as if the economy is about to blow up.Of course, it never actually blows up. The economy, the markets, and stocks all take a couple hits and then bounce back. The investors who make money during bear markets are the ones who realize this and don’t panic. They are the ones who buy, hold, and wait for better times. As it turns out, waiting is actually the most valuable thing you can do in the stock market, especially during bear markets! The great Charlie Munger – Warren Buffett’s right-hand man – once said that the big money in the stock market isn’t made in the buying or the selling but in the waiting. So, here’s my two cents on this market crash. Buy high-quality growth stocks at huge discounts today… then, wait. Sounds simple, I know. But sometimes, the simple answer is the best one. That’s certainly true in this situation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009729464,"gmtCreate":1640800884125,"gmtModify":1676533542750,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009729464","repostId":"1149988860","repostType":4,"repost":{"id":"1149988860","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640792807,"share":"https://ttm.financial/m/news/1149988860?lang=&edition=fundamental","pubTime":"2021-12-29 23:46","market":"us","language":"en","title":"Semiconductor Stocks Mixed in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1149988860","media":"Tiger Newspress","summary":"Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AM","content":"<html><head></head><body><p>Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.</p><p><img src=\"https://static.tigerbbs.com/f4d9932e27e7be43b2a47e9900754cd6\" tg-width=\"412\" tg-height=\"177\" width=\"100%\" height=\"auto\"/></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>Semiconductor Stocks Mixed in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSemiconductor Stocks Mixed in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-29 23:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.</p><p><img src=\"https://static.tigerbbs.com/f4d9932e27e7be43b2a47e9900754cd6\" tg-width=\"412\" tg-height=\"177\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","NVDA":"英伟达","AMD":"美国超微公司"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149988860","content_text":"Semiconductor stocks mixed in morning trading.Micron Technology jumped nearly 3% while Nvidia and AMD fell more than 2%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099184909,"gmtCreate":1643322296610,"gmtModify":1676533802813,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099184909","repostId":"1158438983","repostType":4,"repost":{"id":"1158438983","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1643295421,"share":"https://ttm.financial/m/news/1158438983?lang=&edition=fundamental","pubTime":"2022-01-27 22:57","market":"us","language":"en","title":"Dow Chemical Jumped Nearly 6% in Morning Trading as Its Sales Rise Above Expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=1158438983","media":"Tiger Newspress","summary":"Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.Its Net income","content":"<html><head></head><body><p>Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.</p><p><img src=\"https://static.tigerbbs.com/a8f885dce3cf610035bf627aa5a7ae90\" tg-width=\"771\" tg-height=\"566\" referrerpolicy=\"no-referrer\"/></p><p>Its Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago.</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>Dow Chemical Jumped Nearly 6% in Morning Trading as Its Sales Rise Above Expectations</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\">\nDow Chemical Jumped Nearly 6% in Morning Trading as Its Sales Rise Above Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-01-27 22:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.</p><p><img src=\"https://static.tigerbbs.com/a8f885dce3cf610035bf627aa5a7ae90\" tg-width=\"771\" tg-height=\"566\" referrerpolicy=\"no-referrer\"/></p><p>Its Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOW":"陶氏化学"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158438983","content_text":"Dow Chemical jumped nearly 6% in morning trading as its sales rise above expectations.Its Net income rose to $1.74 billion, or $2.32 a share, from $1.24 billion, or $1.65 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share was $2.15, above the FactSet consensus of $2.03. Sales grew 34.2% to $14.36 billion, outpacing the 28.9% rise in cost of sales to $11.78 billion. Local price increased 39% from a year ago.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9002630026,"gmtCreate":1641989012930,"gmtModify":1676533669175,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9002630026","repostId":"1144835240","repostType":4,"repost":{"id":"1144835240","kind":"news","pubTimestamp":1641988544,"share":"https://ttm.financial/m/news/1144835240?lang=&edition=fundamental","pubTime":"2022-01-12 19:55","market":"us","language":"en","title":"Tesla leading autos 'biggest transformation since the 1950s': Wedbush's Ives","url":"https://stock-news.laohu8.com/highlight/detail?id=1144835240","media":"finance.yahoo","summary":"Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note.Bett","content":"<html><head></head><body><p>Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note.</p><p>Better-than expected fourth quarter delivery figures spurred investors to remain bullish on Tesla&#39;s stock, while the electric vehicle (EV) maker’s new Gigafactory in Austin, Texas preps for production this month.</p><p>“We&#39;re seeing, it&#39;s a $5 trillion market opportunity in terms of EV and it&#39;s the biggest transformation to the auto industry since the 1950s,&#34; Dan Ives, Wedbush’s senior equity analyst, told Yahoo Finance on Tuesday.</p><p>However, Tesla&#39;s bull case going forward &#34;continues to be expanding supply,” he added. “Based on all of our work in and around Austin, we think starting next week we&#39;re going to get into the early stages of what I believe are cars rolling off the plant,” Ives said.</p><p>While there’s been no formal announcement of the Austin factory opening,all eyes are there and on Berlin, opportunities some analysts view could expand capacity for the EV manufacturer. Wall Street is expecting an update on the company’s conference call later on this month.</p><p>“When you look at Austin in particular, it&#39;s been very smooth in terms of the build out,” Ives said.</p><p>“Hiring has been very strong over the last few months, and that&#39;s why Musk has made such a bet on Austin in terms of that being really the golden jewel of the ecosystem,” the analyst added.</p><p><b>Tesla walks a &#39;tight rope&#39;</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58bf0a3f1f118850fa7e464ad79e3998\" tg-width=\"705\" tg-height=\"470\" width=\"100%\" height=\"auto\"/><span>Tesla Inc CEO Elon Musk and Grace Tao, Tesla&#39;s vice president for external relations, attend a delivery ceremony for the electric vehicle (EV) maker&#39;s China-made Model 3 cars in Shanghai, China January 7, 2020. Picture taken January 7, 2020. REUTERS/Aly Song</span></p><p>Meanwhile, Tesla’s sales numbers for December in China showed another record month of deliveries. The data confirm that almost half of Tesla’s record year of production and deliveries came from GigaFactory Shanghai.</p><p>Tesla sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019,data from the China Passenger Car Association (CPCA) showed on Tuesday. Only 245 units were exported to other markets.</p><p>Like other analysts, Ives believes China remains a growth opportunity for Tesla, expecting China to be “over 40% of deliveries for Tesla in 2022.”</p><p>China’s EV market is dominated by domestic brands, including BYD and Wuling – a local marque that’s part of General Motors (GM).According to Shanghai-based consultancy Automobility, Tesla is only the foreign brand in the top 10.</p><p>“It&#39;s a tight rope in terms of China,” Ives said. “But if you look at what&#39;s happening right now, the China growth story is actually accelerating for Tesla 2022, and that we believe is worth about 500 hours per share of the story. It&#39;s something we believe is underestimated by the Street.”</p><p>Wedbush maintains an “outperform” rating on the stock, with a $1,400 price target and bull price target of $1,800.</p><p>And while more competitors jump into the EV space, Ives argued it&#39;s “not a zero sum game” for Tesla.</p><p>“Ford&#39;s gonna be successful at GM, Lucid, VW in Europe and of course, NIO in China, but overall in EV land is Tesla&#39;s world,&#34; the analyst explained. &#34;Everyone else is paying rent at this point and that&#39;s what we&#39;re seeing&#34; in the near term, Ives added.</p></body></html>","source":"lsy1612507957220","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>Tesla leading autos 'biggest transformation since the 1950s': Wedbush's Ives</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\">\nTesla leading autos 'biggest transformation since the 1950s': Wedbush's Ives\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-12 19:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/tesla-leads-the-biggest-transformation-to-the-auto-industry-since-the-1950-s-dan-ives-says-114718961.html><strong>finance.yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note....</p>\n\n<a href=\"https://finance.yahoo.com/news/tesla-leads-the-biggest-transformation-to-the-auto-industry-since-the-1950-s-dan-ives-says-114718961.html\">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://finance.yahoo.com/news/tesla-leads-the-biggest-transformation-to-the-auto-industry-since-the-1950-s-dan-ives-says-114718961.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144835240","content_text":"Tesla (TSLA) strong rally this week points to more gains ahead, according to Wedbush, with the U.S. electric vehicle maker primed to transform the auto industry after ending 2021 on a strong note.Better-than expected fourth quarter delivery figures spurred investors to remain bullish on Tesla's stock, while the electric vehicle (EV) maker’s new Gigafactory in Austin, Texas preps for production this month.“We're seeing, it's a $5 trillion market opportunity in terms of EV and it's the biggest transformation to the auto industry since the 1950s,\" Dan Ives, Wedbush’s senior equity analyst, told Yahoo Finance on Tuesday.However, Tesla's bull case going forward \"continues to be expanding supply,” he added. “Based on all of our work in and around Austin, we think starting next week we're going to get into the early stages of what I believe are cars rolling off the plant,” Ives said.While there’s been no formal announcement of the Austin factory opening,all eyes are there and on Berlin, opportunities some analysts view could expand capacity for the EV manufacturer. Wall Street is expecting an update on the company’s conference call later on this month.“When you look at Austin in particular, it's been very smooth in terms of the build out,” Ives said.“Hiring has been very strong over the last few months, and that's why Musk has made such a bet on Austin in terms of that being really the golden jewel of the ecosystem,” the analyst added.Tesla walks a 'tight rope'Tesla Inc CEO Elon Musk and Grace Tao, Tesla's vice president for external relations, attend a delivery ceremony for the electric vehicle (EV) maker's China-made Model 3 cars in Shanghai, China January 7, 2020. Picture taken January 7, 2020. REUTERS/Aly SongMeanwhile, Tesla’s sales numbers for December in China showed another record month of deliveries. The data confirm that almost half of Tesla’s record year of production and deliveries came from GigaFactory Shanghai.Tesla sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019,data from the China Passenger Car Association (CPCA) showed on Tuesday. Only 245 units were exported to other markets.Like other analysts, Ives believes China remains a growth opportunity for Tesla, expecting China to be “over 40% of deliveries for Tesla in 2022.”China’s EV market is dominated by domestic brands, including BYD and Wuling – a local marque that’s part of General Motors (GM).According to Shanghai-based consultancy Automobility, Tesla is only the foreign brand in the top 10.“It's a tight rope in terms of China,” Ives said. “But if you look at what's happening right now, the China growth story is actually accelerating for Tesla 2022, and that we believe is worth about 500 hours per share of the story. It's something we believe is underestimated by the Street.”Wedbush maintains an “outperform” rating on the stock, with a $1,400 price target and bull price target of $1,800.And while more competitors jump into the EV space, Ives argued it's “not a zero sum game” for Tesla.“Ford's gonna be successful at GM, Lucid, VW in Europe and of course, NIO in China, but overall in EV land is Tesla's world,\" the analyst explained. \"Everyone else is paying rent at this point and that's what we're seeing\" in the near term, Ives added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982343009,"gmtCreate":1667102074301,"gmtModify":1676537861484,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9982343009","repostId":"1178850157","repostType":4,"repost":{"id":"1178850157","kind":"news","pubTimestamp":1667093266,"share":"https://ttm.financial/m/news/1178850157?lang=&edition=fundamental","pubTime":"2022-10-30 09:27","market":"us","language":"en","title":"Tesla’s Growth Story is Still Attractive despite Mixed Quarter","url":"https://stock-news.laohu8.com/highlight/detail?id=1178850157","media":"TipRanks","summary":"Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story ","content":"<div>\n<p>Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive\">Web Link</a>\n\n</div>\n","source":"lsy1606183248679","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla’s Growth Story is Still Attractive despite Mixed Quarter</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\">\nTesla’s Growth Story is Still Attractive despite Mixed Quarter\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-30 09:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive\">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.tipranks.com/news/article/tesla-mixed-quarter-but-long-term-growth-story-highly-attractive","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178850157","content_text":"Story HighlightsTesla’s third-quarter revenue miss shouldn’t deter investors from its incredible long-term potential. Investors should stay committed to this company as it continues its success story with its stock trading at multi-year lows.Tesla’s (NASDAQ: TSLA) recent decline is reminiscent of the tech sector during the Great Recession. TSLA stock hit an all-time high of $414 last year but now trades closer to its 52-week lows. Investors may have been quick to judge Tesla, but there are plenty of reasons why people should hold onto its shares for the long haul. Though it missed revenue estimates for the third quarter, it produced record results across business units. Hence, we’re bullish on TSLA stock.The EV giant has had an amazing year. It recently opened up two new Gigafactories that will double its previous annual production capacity from 1 million to 2 million cars. Recent comments by its maverick CEO, Elon Musk, suggested that the company is just starting with its global domination.With 12 additional Gigafactories, Tesla will produce 20 million cars annually by 2030. Analysts predict that this will bring in about $120 billion in revenue in 2023. It’s hard to say if Tesla can maintain its market share in the long run with so many new entrants making their presence felt in the EV space. However, its incredible brand equity in the space positions it as a clear frontrunner in the sphere.Plenty of Bright Spots in the Third Quarter for TeslaTesla delivered mixed results in its third quarter. Revenue increased 56% from the prior-year period to $21.45 billion, missing analyst estimates by a considerable margin. The miss was due to increased foreign exchange headwinds, with the U.S. Dollar faring much better than other currencies. Nevertheless, there were plenty of bright spots.Despite the economy being on an inflationary rollercoaster, Tesla’s operating expenses only grew by 2% to $1.69 billion. It also etched out a 17.2% operating margin driven by higher average selling prices. Tesla’s Adjusted EBITDA increased by 55% over the past year and now stands at $4.97 billion, while overall net income was up a staggering 103%. Earnings per share also rose by 98% from the same period last year.Its core growth driver was an increase in vehicle deliveries, which shot up 42% year-over-year to 343,830 vehicles and a 54% bump in production levels. Tesla’s market share is under 2% in the European and Chinese regions, so there’s still plenty of room for expansion. Even a small increase in market share could result in a massive sales windfall for the company.Tesla Stock Has Multiple Growth Catalysts in MotionTesla has been steadily updating its product line with new vehicles that are revolutionizing the automotive industry. The company’s latest innovation, an electric semi-truck, will start being delivered to PepsiCo (NASDAQ: PEP) on December 1. Moreover, the firm’s Cybertruck is in its final design phases and should soon hit the markets. Furthermore, Musk says a lower-priced EV is coming, which will expand Tesla’s passenger car offerings even further.There is also Tesla’s self-driving program, which has logged over 60 million miles from volunteers. The more miles the software logs, the better it “learns,” thus improving its capabilities. This will be a crucial part of the company’s robotaxi business, which would revolutionize how people move around communities by removing human intervention entirely.In addition to vehicles, Tesla is looking into manufacturing robots. Known as Optimus bots, they could be used as replacements for human workers who are now needed more than ever before. If Tesla’s new Optimus functionalities are any indication, robots could soon take over many of the low-skill jobs that companies rely on today. These automated machines can operate around the clock and do so with little human intervention, making them an ideal replacement for factory workers.Optimus is expected to hit markets in 2027. The potential for this technology is unprecedented. With a price tag of $20,000, the opportunity is expected to generate billions in sales over time.Is Tesla Stock a Buy?Turning to Wall Street, TSLA stock maintains a Moderate Buy consensus rating. Out of 30 total analyst ratings, 19 Buys, seven Holds, and four Sells were assigned over the past three months. The average TSLA price target is $292.89, implying a 31.57% upside potential. Analyst price targets range from a low of $85 per share to a high of $436 per share.Bottomline: TSLA Stock is for the Long TermTesla has been on quite the ride these past few years, with strong results and demand that’s only getting higher. Despite some mixed third-quarter financials, investors should stay committed to this company as it continues its success story. The company’s stock is surprisingly undervalued, and although the macro picture may present some short-term headwinds, it presents itself as a great long-term investment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":452,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9000878093,"gmtCreate":1640132905289,"gmtModify":1676533502392,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9000878093","repostId":"2193663561","repostType":4,"repost":{"id":"2193663561","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1640125936,"share":"https://ttm.financial/m/news/2193663561?lang=&edition=fundamental","pubTime":"2021-12-22 06:32","market":"us","language":"en","title":"Wall Street closes up strongly with boost from Nike, Micron, following Omicron slide","url":"https://stock-news.laohu8.com/highlight/detail?id=2193663561","media":"Reuters","summary":"Dec 21  - Wall Street's main indexes ended sharply higher on Tuesday, with strength in travel and tech shares as well as in Nike and Micron Technology following their earnings, as stocks rebounded from a coronavirus-fueled rout the session before.The rapidly spreading Omicron variant of the coronavirus has rattled stock markets around the world, triggering volatility in the final month of 2021, which has otherwise been a strong year for equities.Gains in massive technology and tech-related stock","content":"<ul>\n <li>Energy, tech top-gaining S&amp;P 500 sectors</li>\n <li>Travel stocks surge broadly</li>\n <li>Nike up after beating quarterly estimates</li>\n <li>Micron rises as it sees chip shortages easing</li>\n <li>Indexes up: Dow 1.6%, S&amp;P 1.78%, Nasdaq 2.4%</li>\n</ul>\n<p>Dec 21 (Reuters) - Wall Street's main indexes ended sharply higher on Tuesday, with strength in travel and tech shares as well as in Nike and Micron Technology following their earnings, as stocks rebounded from a coronavirus-fueled rout the session before.</p>\n<p>The rapidly spreading Omicron variant of the coronavirus has rattled stock markets around the world, triggering volatility in the final month of 2021, which has otherwise been a strong year for equities.</p>\n<p>Gains in massive technology and tech-related stocks such as Microsoft&nbsp;and Amazon&nbsp;lifted indexes on Tuesday, as did increases in economically sensitive groups such as energy. Travel-related stocks surged, including Carnival Corp, Las Vegas Sands&nbsp;and <a href=\"https://laohu8.com/S/EXPE\">Expedia</a> Group.</p>\n<p>“It is clearly a risk-on day,\" said David Joy, chief market strategist at Ameriprise Financial in Boston. \"This is clearly, at least for the day, investors saying, 'You know what, we are going to be able to ride through this Omicron surge and come out the other side in pretty good shape.’”</p>\n<p>The Dow Jones Industrial Average&nbsp;rose 560.54 points, or 1.6%, to 35,492.7, the S&amp;P 500&nbsp;gained 81.21 points, or 1.78%, to 4,649.23 and the Nasdaq Composite&nbsp;added 360.14 points, or 2.4%, to 15,341.09.</p>\n<p>Defensive sectors, such as consumer staples&nbsp;and utilities&nbsp;that have led in December, lagged on Tuesday.</p>\n<p>Nike&nbsp;shares rose 6.1% after the sports apparel company's results beat quarterly estimates for profit and revenue, and it said it was more confident that supply chain issues would ease in its next fiscal year.</p>\n<p>Micron Technology&nbsp;shares jumped 10.5% after the chip company forecast second-quarter sales and profits will beat estimates with shortages easing in 2022. The Philadelphia SE Semiconductor index&nbsp;rose 3.4%.</p>\n<p>“If Micron’s forecast is strong, that tells us broadly speaking that demand is strong across many different industries,” said King Lip, chief strategist at Baker Avenue Asset Management, adding that Micron's products \"go into so many different industrial applications.\"</p>\n<p>General Mills&nbsp;shares fell 4% after the consumer staples company missed Wall Street estimates for quarterly profit.</p>\n<p>The benchmark S&amp;P 500 has gained 23.8% so far in 2021.</p>\n<p>Some investors are wary about a tougher environment for equities as the Federal Reserve is expected to start raising interest rates next year.</p>\n<p>\"It's good to see green going into the next year but if you just take a step back and look at the broader picture, you're seeing financial conditions change,\" said Joshua Chastant, senior investment analyst at GuideStone Capital Management.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 4.08-to-1 ratio; on Nasdaq, a 2.95-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 27 new highs and 99 new lows.</p>\n<p>About 10.1 billion shares changed hands in U.S. exchanges, below the daily average of roughly 12 billion over the last 20 sessions.</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>Wall Street closes up strongly with boost from Nike, Micron, following Omicron slide</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 closes up strongly with boost from Nike, Micron, following Omicron slide\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-12-22 06:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Energy, tech top-gaining S&amp;P 500 sectors</li>\n <li>Travel stocks surge broadly</li>\n <li>Nike up after beating quarterly estimates</li>\n <li>Micron rises as it sees chip shortages easing</li>\n <li>Indexes up: Dow 1.6%, S&amp;P 1.78%, Nasdaq 2.4%</li>\n</ul>\n<p>Dec 21 (Reuters) - Wall Street's main indexes ended sharply higher on Tuesday, with strength in travel and tech shares as well as in Nike and Micron Technology following their earnings, as stocks rebounded from a coronavirus-fueled rout the session before.</p>\n<p>The rapidly spreading Omicron variant of the coronavirus has rattled stock markets around the world, triggering volatility in the final month of 2021, which has otherwise been a strong year for equities.</p>\n<p>Gains in massive technology and tech-related stocks such as Microsoft&nbsp;and Amazon&nbsp;lifted indexes on Tuesday, as did increases in economically sensitive groups such as energy. Travel-related stocks surged, including Carnival Corp, Las Vegas Sands&nbsp;and <a href=\"https://laohu8.com/S/EXPE\">Expedia</a> Group.</p>\n<p>“It is clearly a risk-on day,\" said David Joy, chief market strategist at Ameriprise Financial in Boston. \"This is clearly, at least for the day, investors saying, 'You know what, we are going to be able to ride through this Omicron surge and come out the other side in pretty good shape.’”</p>\n<p>The Dow Jones Industrial Average&nbsp;rose 560.54 points, or 1.6%, to 35,492.7, the S&amp;P 500&nbsp;gained 81.21 points, or 1.78%, to 4,649.23 and the Nasdaq Composite&nbsp;added 360.14 points, or 2.4%, to 15,341.09.</p>\n<p>Defensive sectors, such as consumer staples&nbsp;and utilities&nbsp;that have led in December, lagged on Tuesday.</p>\n<p>Nike&nbsp;shares rose 6.1% after the sports apparel company's results beat quarterly estimates for profit and revenue, and it said it was more confident that supply chain issues would ease in its next fiscal year.</p>\n<p>Micron Technology&nbsp;shares jumped 10.5% after the chip company forecast second-quarter sales and profits will beat estimates with shortages easing in 2022. The Philadelphia SE Semiconductor index&nbsp;rose 3.4%.</p>\n<p>“If Micron’s forecast is strong, that tells us broadly speaking that demand is strong across many different industries,” said King Lip, chief strategist at Baker Avenue Asset Management, adding that Micron's products \"go into so many different industrial applications.\"</p>\n<p>General Mills&nbsp;shares fell 4% after the consumer staples company missed Wall Street estimates for quarterly profit.</p>\n<p>The benchmark S&amp;P 500 has gained 23.8% so far in 2021.</p>\n<p>Some investors are wary about a tougher environment for equities as the Federal Reserve is expected to start raising interest rates next year.</p>\n<p>\"It's good to see green going into the next year but if you just take a step back and look at the broader picture, you're seeing financial conditions change,\" said Joshua Chastant, senior investment analyst at GuideStone Capital Management.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 4.08-to-1 ratio; on Nasdaq, a 2.95-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 27 new highs and 99 new lows.</p>\n<p>About 10.1 billion shares changed hands in U.S. exchanges, below the daily average of roughly 12 billion over the last 20 sessions.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SDOW":"道指三倍做空ETF-ProShares","QQQ":"纳指100ETF","DXD":"道指两倍做空ETF","MU":"美光科技","QID":"纳指两倍做空ETF",".DJI":"道琼斯","DDM":"道指两倍做多ETF",".IXIC":"NASDAQ Composite","TQQQ":"纳指三倍做多ETF",".SPX":"S&P 500 Index","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4146":"鞋类","BK4566":"资本集团","DOG":"道指反向ETF","BK4558":"双十一","PSQ":"纳指反向ETF","QLD":"纳指两倍做多ETF","UDOW":"道指三倍做多ETF-ProShares","NKE":"耐克","DJX":"1/100道琼斯","SQQQ":"纳指三倍做空ETF","BK4561":"索罗斯持仓"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2193663561","content_text":"Energy, tech top-gaining S&P 500 sectors\nTravel stocks surge broadly\nNike up after beating quarterly estimates\nMicron rises as it sees chip shortages easing\nIndexes up: Dow 1.6%, S&P 1.78%, Nasdaq 2.4%\n\nDec 21 (Reuters) - Wall Street's main indexes ended sharply higher on Tuesday, with strength in travel and tech shares as well as in Nike and Micron Technology following their earnings, as stocks rebounded from a coronavirus-fueled rout the session before.\nThe rapidly spreading Omicron variant of the coronavirus has rattled stock markets around the world, triggering volatility in the final month of 2021, which has otherwise been a strong year for equities.\nGains in massive technology and tech-related stocks such as Microsoft and Amazon lifted indexes on Tuesday, as did increases in economically sensitive groups such as energy. Travel-related stocks surged, including Carnival Corp, Las Vegas Sands and Expedia Group.\n“It is clearly a risk-on day,\" said David Joy, chief market strategist at Ameriprise Financial in Boston. \"This is clearly, at least for the day, investors saying, 'You know what, we are going to be able to ride through this Omicron surge and come out the other side in pretty good shape.’”\nThe Dow Jones Industrial Average rose 560.54 points, or 1.6%, to 35,492.7, the S&P 500 gained 81.21 points, or 1.78%, to 4,649.23 and the Nasdaq Composite added 360.14 points, or 2.4%, to 15,341.09.\nDefensive sectors, such as consumer staples and utilities that have led in December, lagged on Tuesday.\nNike shares rose 6.1% after the sports apparel company's results beat quarterly estimates for profit and revenue, and it said it was more confident that supply chain issues would ease in its next fiscal year.\nMicron Technology shares jumped 10.5% after the chip company forecast second-quarter sales and profits will beat estimates with shortages easing in 2022. The Philadelphia SE Semiconductor index rose 3.4%.\n“If Micron’s forecast is strong, that tells us broadly speaking that demand is strong across many different industries,” said King Lip, chief strategist at Baker Avenue Asset Management, adding that Micron's products \"go into so many different industrial applications.\"\nGeneral Mills shares fell 4% after the consumer staples company missed Wall Street estimates for quarterly profit.\nThe benchmark S&P 500 has gained 23.8% so far in 2021.\nSome investors are wary about a tougher environment for equities as the Federal Reserve is expected to start raising interest rates next year.\n\"It's good to see green going into the next year but if you just take a step back and look at the broader picture, you're seeing financial conditions change,\" said Joshua Chastant, senior investment analyst at GuideStone Capital Management.\nAdvancing issues outnumbered declining ones on the NYSE by a 4.08-to-1 ratio; on Nasdaq, a 2.95-to-1 ratio favored advancers.\nThe S&P 500 posted 11 new 52-week highs and no new lows; the Nasdaq Composite recorded 27 new highs and 99 new lows.\nAbout 10.1 billion shares changed hands in U.S. exchanges, below the daily average of roughly 12 billion over the last 20 sessions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039158627,"gmtCreate":1645971589811,"gmtModify":1676534078517,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039158627","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1645926503,"share":"https://ttm.financial/m/news/1125580913?lang=&edition=fundamental","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</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>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</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\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005970000,"gmtCreate":1642160466538,"gmtModify":1676533687564,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005970000","repostId":"1144666508","repostType":4,"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001586452,"gmtCreate":1641274525147,"gmtModify":1676533592167,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001586452","repostId":"1179133564","repostType":4,"repost":{"id":"1179133564","kind":"news","pubTimestamp":1641266758,"share":"https://ttm.financial/m/news/1179133564?lang=&edition=fundamental","pubTime":"2022-01-04 11:25","market":"us","language":"en","title":"Is Apple Stock Likely To Reach $200 In 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=1179133564","media":"Seeking Alpha","summary":"SummaryApple stock received a lot of interest recently as it surged in early December and has mainta","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Apple stock received a lot of interest recently as it surged in early December and has maintained its market outperformance.</li><li>We discuss the critical drivers for investors to watch moving into 2022.</li><li>We also discuss whether Apple stock is likely to reach $200 moving forward.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e9d29c6db997dd98e087415e7e2acfe\" tg-width=\"1536\" tg-height=\"1036\" referrerpolicy=\"no-referrer\"/><span>Justin Sullivan/Getty Images News</span></p><p><b>Investment Thesis</b></p><p>Apple Inc. (AAPL) has recently drawn significant interest among investors as the stock has continued to outperform the market since early December. It&#39;s notable since AAPL stock has lagged the market for almost the whole year. However, investors&#39; interests spiked following the series of successful new product launches, including its pivotal iPhone 13.</p><p>Supply chain checks from numerous sell-side analysts have also demonstrated that the delays over its iPhones have improved markedly. In addition, Goldman Sachs also highlighted that lead times were down significantly in mid-December as Apple continues to leverage strong iPhone demand in its most crucial calendar quarter.</p><p>AAPL stock continues to hold its price steadily, briefly topped a $3T market cap milestone. However, there shouldn&#39;t be any doubt that AAPL stock has had an unmistakable long-term uptrend over the years. Moreover, given that the company has multiple long-term secular drivers driving its business model, we are confident that the stock can reach $200 in 2022.</p><p>We discuss these critical drivers for AAPL stock as we head into 2022 with the $3T market cap looking over the horizon.</p><p><b>Services Revenue Growth Could Have Been Significantly Understated</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a837d0ef4f22be5610e00a0a6c3b6a5\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Apple revenue and adjusted EBITDA mean consensus estimates. Data source: S&amp;P Capital IQ</span></p><p>Apple bears have often pointed out the deceleration in the company&#39;s topline growth as proof of a stock that is massively overvalued. It&#39;s easy to understand what they mean. Readers can refer to the chart above, where Apple&#39;s revenue growth is estimated to decelerate over the next three years. Consensus estimates point to a revenue CAGR of just 4.6% through FY24. Moreover, its adjusted EBITDA margins are likely to remain consistent. But, AAPL is not projected to gain leverage towards its profitability. Hence, bearish investors claim they don&#39;t understand how the Cupertino company can continue to justify its current valuation.</p><p>But, we think investors need to step back and consider the critical growth drivers for AAPL moving forward. So let us present our analysis.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3850a7b0d906064e94b474a4f50c3fd4\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Apple iPhone and services revenue estimates. Data source: Trefis, author</span></p><p>Readers can refer to the above model, where iPhone&#39;s revenue is estimated to increase at a CAGR of just 2.2% over the next five years. However, Apple&#39;s services segment (including App Store&#39;s revenue) is projected to increase its revenue at a CAGR of 11% through FY26, reaching $115B. We think these estimates are relatively conservative. Based on these estimates, a SOTP implied fair value of $159 was reached for AAPL stock. It also includes other segments but was mainly driven by the two critical segments above. iPhone and services accounted for 43% and 25% of its SOTP valuation.</p><p>But, we believe that these estimates may not have captured the multiple growth drivers underpinning the App Store. Why?</p><p>Based on recent estimates by Sensor Tower, App Store&#39;s revenue is estimated to increase at a CAGR of 20.7% through CY25, reaching $185B. Notably, it&#39;s way ahead of the estimate of $115B that we discussed earlier for the entire services segment. Importantly, we have not even included revenue from the other services other than App Store&#39;s contribution. Therefore, we think that readers need to consider that the Street consensus may have significantly underestimated the prowess of Apple&#39;s highly profitable (estimated operating margin &gt; 70%) App Store.</p><p>We are not saying that Sensor Tower&#39;s estimate is the source of truth. But, we wanted to highlight that investors should pay more attention to Apple&#39;s key services segment. Sensor Tower presented a region by region breakdown, which we thought seemed credible, and we encourage investors to monitor closely.</p><p><b>Don&#39;t Ignore Apple&#39;s Metaverse Ambitions</b></p><p>Renowned TF International Securities analyst Ming-Chi Kuo estimated that Apple&#39;s AR/VR device would be released sometime in Q4&#39;22. We believe this is significant as it augurs well for Apple&#39;s ambitions into the metaverse. There&#39;s little doubt that Meta Platforms (FB) and Microsoft(MSFT) are strengthening their lead in the consumer and commercial AR/VR space.According to TrendForce, global AR/VR device shipment is estimated to reach 12.02M units, up 26.4% YoY in 2022. Moreover, the market is estimated to grow rapidly through 2025, reaching 25.76M units at a CAGR of 38.8%. Notably, it expects Meta&#39;s Oculus devices to maintain a 66% consumer market share. But, TrendForce also noted that (edited):</p><blockquote>AR/VR device suppliers may look to expand their user base and increase their market penetration via low-priced yet high-spec devices,<i>while compensating for their reduced hardware profitability through software sales</i>. (TrendForce)</blockquote><p>Software sales indeed. Apple runs the largest mobile ecosystem globally, which dwarfs Google Play&#39;s (GOOG) (GOOGL) revenue. Therefore, we believe the entry of Apple into the metaverse game could significantly raise the company&#39;s monetization opportunities. Theories that Meta Platform has ambitions to displace Apple as the next-gen computing platform abound. However, we have also discussed thatMeta Platforms&#39; eventual metaverse will unlikely be the only virtual world we will ever experience. Instead, the metaverse will likely be a series of interconnected virtual worlds that will be interoperable. So, Apple could still be the critical ecosystem owner as creators build their virtual worlds to be monetized through the App Store, reaching out to Apple&#39;s more than 1B (and growing) installed base.</p><p>TrendForce also added that global VR content revenue is estimated to grow at a rapid 40% CAGR through 2025, reaching $8.3B. The content will be varied but primarily consisting of &#34;gaming/entertainment, videos, and social interactions.&#34; Therefore, Apple can continue to leverage such opportunities through its massive ecosystem. We think these opportunities are so novel that it hasn&#39;t even been written into Apple&#39;s consensus estimates just yet. But, once Apple&#39;s AR/VR devices are launched, we believe that the revenue runway could become even more apparent. However, we must still caution that we are still very early into Apple&#39;s metaverse ambitions. But, we believe that Apple will be a critical player in defining the metaverse through its ecosystem. It won&#39;t be very smart to consider that Apple doesn&#39;t have a clearly-defined metaverse strategy.</p><p><b>So, is AAPL Stock a Buy Now?</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6087fafa5c6ee0f2958f8d29919c3eb5\" tg-width=\"640\" tg-height=\"384\" referrerpolicy=\"no-referrer\"/><span>AAPL stock EV/NTM EBIT, and Normalized P/E (NTM) 3Y mean.</span></p><p>If you consider AAPL stock&#39;s relative valuation against its 3Y mean, there&#39;s little doubt that AAPL stock seems expensive. It&#39;s trading at an EV/NTM EBIT of 26x, way above its 3Y mean of 19.3x. In addition, its normalized P/E (NTM) also read 31.2x, significantly ahead of its 3Y mean of 23.9x. Therefore, we wouldn&#39;t blame bearish investors who think that AAPL stock seems well overvalued now.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c889e6a8aa5fe9751c5d695481f9d3b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Apple unlevered FCF estimates. Data source: S&amp;P Capital IQ, author</span></p><p>However, we also estimated that AAPL stock would continue to generate robust FCF growth over time. Moreover, our model is even more conservative than the consensus estimates. In addition, we have also not considered Sensor Tower&#39;s estimates or Apple&#39;s metaverse opportunities that we discussed earlier. Nevertheless, it led us towards a DCF implied fair value estimate of $153, which we highlighted in our previous article. It&#39;s also quite close to our SOTP implied fair value of $159 that we showed earlier. Therefore, it&#39;s clear that these estimates have not factored for the robust services growth and the potential metaverse opportunities that could accrue to Apple over the next five to ten years.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de1380b774a68d31c93eaf939fb99e27\" tg-width=\"640\" tg-height=\"347\" referrerpolicy=\"no-referrer\"/><span>AAPL stock price action.</span></p><p>Nevertheless, we think that AAPL stock looks extended, as seen above. But, as mentioned, it wouldn&#39;t be very smart for investors to bet against CEO Tim Cook &amp; Co. The stock&#39;s long-term uptrend is clear for all to observe.</p><p>So, we are clear that the stock would likely break the $200 level in 2022 as the excitement surrounding its AR/VR launch gets closers, coupled with its services segment revenue growth in its earnings releases. As a result, we believe that AAPL&#39;s stock price could be re-rated to reflect its potential over the next year.</p><p>Nevertheless, due to its over-extended price action, we encourage some patience with AAPL stock. But, if you have no AAPL stock, we think you can consider adding at this price if you are a long-term investor. We don&#39;t believe it&#39;s significantly overvalued, as discussed earlier. But, if you already have considerable exposure relative to your portfolio, we think you can wait for a potentially better entry point with some patience.</p><p>Therefore, we reiterate our Neutral rating on AAPL stock for now.</p><p>This article was written by JR Research.</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>Is Apple Stock Likely To Reach $200 In 2022?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Apple Stock Likely To Reach $200 In 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-04 11:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4477741-apple-stock-reach-200-in-2022><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryApple stock received a lot of interest recently as it surged in early December and has maintained its market outperformance.We discuss the critical drivers for investors to watch moving into ...</p>\n\n<a href=\"https://seekingalpha.com/article/4477741-apple-stock-reach-200-in-2022\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4477741-apple-stock-reach-200-in-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179133564","content_text":"SummaryApple stock received a lot of interest recently as it surged in early December and has maintained its market outperformance.We discuss the critical drivers for investors to watch moving into 2022.We also discuss whether Apple stock is likely to reach $200 moving forward.Justin Sullivan/Getty Images NewsInvestment ThesisApple Inc. (AAPL) has recently drawn significant interest among investors as the stock has continued to outperform the market since early December. It's notable since AAPL stock has lagged the market for almost the whole year. However, investors' interests spiked following the series of successful new product launches, including its pivotal iPhone 13.Supply chain checks from numerous sell-side analysts have also demonstrated that the delays over its iPhones have improved markedly. In addition, Goldman Sachs also highlighted that lead times were down significantly in mid-December as Apple continues to leverage strong iPhone demand in its most crucial calendar quarter.AAPL stock continues to hold its price steadily, briefly topped a $3T market cap milestone. However, there shouldn't be any doubt that AAPL stock has had an unmistakable long-term uptrend over the years. Moreover, given that the company has multiple long-term secular drivers driving its business model, we are confident that the stock can reach $200 in 2022.We discuss these critical drivers for AAPL stock as we head into 2022 with the $3T market cap looking over the horizon.Services Revenue Growth Could Have Been Significantly UnderstatedApple revenue and adjusted EBITDA mean consensus estimates. Data source: S&P Capital IQApple bears have often pointed out the deceleration in the company's topline growth as proof of a stock that is massively overvalued. It's easy to understand what they mean. Readers can refer to the chart above, where Apple's revenue growth is estimated to decelerate over the next three years. Consensus estimates point to a revenue CAGR of just 4.6% through FY24. Moreover, its adjusted EBITDA margins are likely to remain consistent. But, AAPL is not projected to gain leverage towards its profitability. Hence, bearish investors claim they don't understand how the Cupertino company can continue to justify its current valuation.But, we think investors need to step back and consider the critical growth drivers for AAPL moving forward. So let us present our analysis.Apple iPhone and services revenue estimates. Data source: Trefis, authorReaders can refer to the above model, where iPhone's revenue is estimated to increase at a CAGR of just 2.2% over the next five years. However, Apple's services segment (including App Store's revenue) is projected to increase its revenue at a CAGR of 11% through FY26, reaching $115B. We think these estimates are relatively conservative. Based on these estimates, a SOTP implied fair value of $159 was reached for AAPL stock. It also includes other segments but was mainly driven by the two critical segments above. iPhone and services accounted for 43% and 25% of its SOTP valuation.But, we believe that these estimates may not have captured the multiple growth drivers underpinning the App Store. Why?Based on recent estimates by Sensor Tower, App Store's revenue is estimated to increase at a CAGR of 20.7% through CY25, reaching $185B. Notably, it's way ahead of the estimate of $115B that we discussed earlier for the entire services segment. Importantly, we have not even included revenue from the other services other than App Store's contribution. Therefore, we think that readers need to consider that the Street consensus may have significantly underestimated the prowess of Apple's highly profitable (estimated operating margin > 70%) App Store.We are not saying that Sensor Tower's estimate is the source of truth. But, we wanted to highlight that investors should pay more attention to Apple's key services segment. Sensor Tower presented a region by region breakdown, which we thought seemed credible, and we encourage investors to monitor closely.Don't Ignore Apple's Metaverse AmbitionsRenowned TF International Securities analyst Ming-Chi Kuo estimated that Apple's AR/VR device would be released sometime in Q4'22. We believe this is significant as it augurs well for Apple's ambitions into the metaverse. There's little doubt that Meta Platforms (FB) and Microsoft(MSFT) are strengthening their lead in the consumer and commercial AR/VR space.According to TrendForce, global AR/VR device shipment is estimated to reach 12.02M units, up 26.4% YoY in 2022. Moreover, the market is estimated to grow rapidly through 2025, reaching 25.76M units at a CAGR of 38.8%. Notably, it expects Meta's Oculus devices to maintain a 66% consumer market share. But, TrendForce also noted that (edited):AR/VR device suppliers may look to expand their user base and increase their market penetration via low-priced yet high-spec devices,while compensating for their reduced hardware profitability through software sales. (TrendForce)Software sales indeed. Apple runs the largest mobile ecosystem globally, which dwarfs Google Play's (GOOG) (GOOGL) revenue. Therefore, we believe the entry of Apple into the metaverse game could significantly raise the company's monetization opportunities. Theories that Meta Platform has ambitions to displace Apple as the next-gen computing platform abound. However, we have also discussed thatMeta Platforms' eventual metaverse will unlikely be the only virtual world we will ever experience. Instead, the metaverse will likely be a series of interconnected virtual worlds that will be interoperable. So, Apple could still be the critical ecosystem owner as creators build their virtual worlds to be monetized through the App Store, reaching out to Apple's more than 1B (and growing) installed base.TrendForce also added that global VR content revenue is estimated to grow at a rapid 40% CAGR through 2025, reaching $8.3B. The content will be varied but primarily consisting of \"gaming/entertainment, videos, and social interactions.\" Therefore, Apple can continue to leverage such opportunities through its massive ecosystem. We think these opportunities are so novel that it hasn't even been written into Apple's consensus estimates just yet. But, once Apple's AR/VR devices are launched, we believe that the revenue runway could become even more apparent. However, we must still caution that we are still very early into Apple's metaverse ambitions. But, we believe that Apple will be a critical player in defining the metaverse through its ecosystem. It won't be very smart to consider that Apple doesn't have a clearly-defined metaverse strategy.So, is AAPL Stock a Buy Now?AAPL stock EV/NTM EBIT, and Normalized P/E (NTM) 3Y mean.If you consider AAPL stock's relative valuation against its 3Y mean, there's little doubt that AAPL stock seems expensive. It's trading at an EV/NTM EBIT of 26x, way above its 3Y mean of 19.3x. In addition, its normalized P/E (NTM) also read 31.2x, significantly ahead of its 3Y mean of 23.9x. Therefore, we wouldn't blame bearish investors who think that AAPL stock seems well overvalued now.Apple unlevered FCF estimates. Data source: S&P Capital IQ, authorHowever, we also estimated that AAPL stock would continue to generate robust FCF growth over time. Moreover, our model is even more conservative than the consensus estimates. In addition, we have also not considered Sensor Tower's estimates or Apple's metaverse opportunities that we discussed earlier. Nevertheless, it led us towards a DCF implied fair value estimate of $153, which we highlighted in our previous article. It's also quite close to our SOTP implied fair value of $159 that we showed earlier. Therefore, it's clear that these estimates have not factored for the robust services growth and the potential metaverse opportunities that could accrue to Apple over the next five to ten years.AAPL stock price action.Nevertheless, we think that AAPL stock looks extended, as seen above. But, as mentioned, it wouldn't be very smart for investors to bet against CEO Tim Cook & Co. The stock's long-term uptrend is clear for all to observe.So, we are clear that the stock would likely break the $200 level in 2022 as the excitement surrounding its AR/VR launch gets closers, coupled with its services segment revenue growth in its earnings releases. As a result, we believe that AAPL's stock price could be re-rated to reflect its potential over the next year.Nevertheless, due to its over-extended price action, we encourage some patience with AAPL stock. But, if you have no AAPL stock, we think you can consider adding at this price if you are a long-term investor. We don't believe it's significantly overvalued, as discussed earlier. But, if you already have considerable exposure relative to your portfolio, we think you can wait for a potentially better entry point with some patience.Therefore, we reiterate our Neutral rating on AAPL stock for now.This article was written by JR Research.","news_type":1},"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003994766,"gmtCreate":1640839755133,"gmtModify":1676533546992,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Nice article 👍","listText":"Nice article 👍","text":"Nice article 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003994766","repostId":"1100360696","repostType":4,"repost":{"id":"1100360696","kind":"news","pubTimestamp":1640835267,"share":"https://ttm.financial/m/news/1100360696?lang=&edition=fundamental","pubTime":"2021-12-30 11:34","market":"us","language":"en","title":"The Bull Market Keeps Running Thanks to Growing Profit Forecasts","url":"https://stock-news.laohu8.com/highlight/detail?id=1100360696","media":"Bloomberg","summary":"Wondering how U.S. stocks can keep going up in the face of a newly hawkish Federal Reserve and a fas","content":"<html><head></head><body><p>Wondering how U.S. stocks can keep going up in the face of a newly hawkish Federal Reserve and a fast-spreading omicron variant? The answer once again is uncanny resilience in the key measure of American corporate health.</p><p>As scary as all the headlines have been, they have yet to enact any appreciable harm on forecasts for S&amp;P 500 earnings. Rather than fall, as case counts climb and the global recovery comes under increasingly worrisome threats, estimated 2022 income for firms in the index actually climbed about $1 to $220.40 a share in the last month.</p><p>It’s possible that analysts have just been slow cutting numbers as the post-pandemic rally approaches its third year. Certainly, some money managers have raised cash holdings and cut equity exposure in anticipation of a worsening economy.</p><p>But bulls are acting as though stable profit estimates are believable and unlikely to change. In a year rife with antagonists, from waves of coronavirus outbreaks to supply chain bottlenecks, it’s record earnings per share that kept the bull case intact.</p><p><img src=\"https://static.tigerbbs.com/4a815e0ad9f97c89562732146ad5fc27\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>“Healthy economic and EPS growth acts as a foundation under a market which is driven by chronic fears,” said Jim Paulsen, chief investment strategist at Leuthold Group, who expects 2022 profits to come in at $240 a share. “You can be worried about Covid, inflation, the Fed, China, Robinhood, SPACs, valuations, etc. But every quarter, EPS keep coming in better than expected, forcing the consensus to upgrade forecasts. And this brings ‘dip buyers’ whenever we have any meaningful pullback.”</p><p>Investor nerves were tested in December when Fed Chair Jerome Powell announced plans to end the central bank’s asset-buying program earlier and signaled rate hikes for 2022 to fight inflation. Prospects for higher rates and slower growth sparked a quick exodus from risky assets. Technology firms that are unprofitable bore the brunt of selling. So did shares of newly public companies, many of which have yet to make money.</p><p>But the S&amp;P 500, tracking large and established firms, has stood relatively firm, hovering within 4% of its all-time high thanks to strength on the bottom line. While the index’s 27% rally struck many as hard to explain, the pace of its appreciation has roughly matched the increase in the estimated earnings this year. In other words, the share gains have been driven by improving fundamentals.</p><p><img src=\"https://static.tigerbbs.com/d8f4fdee9906fe55ca6b5ed7bfeec706\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Even inflation -- public enemy No. 1 in the fixed income market -- has mostly been a tail wind for large-cap companies. Thanks to the ability to pass on higher costs to end users,profit margin, a measure of how much a business can keep its revenue as income, has widened to a record and according to analysts is expected to expand in the following two years.</p><p>While not every company is able to defend its profitability amid mounting pricing pressures, those that can are winning. A Goldman Sachs Group Inc. basket of stocks with stable high margins has outperformed that with less pricing power by 7 percentage points this quarter, the most since the pandemic trough in March 2020.</p><p>“What we really want to find are companies with pricing power,” said Giorgio Caputo, senior portfolio manager at J O Hambro Capital Management. “In an inflationary environment, that’s the gift that keeps on giving because companies can pass along their pricing on the way up, and don’t necessarily need to get it back on the way down.”</p><p><img src=\"https://static.tigerbbs.com/6fced9f404864a7497024513db7de9ee\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Now as the year draws to a close, “play defensive” has replaced “fear of missing out” as the market’s mantra. In Bank of America Corp.’s latest survey, global money managers this month boosted their cash holdings to the highest level since May 2020 while trimming their stock exposure to a 13-month low.</p><p>Yet amid a cacophony of macroeconomic stressors, the robust earnings picture is pretty much intact. For the fourth-quarter earnings season that’s about to start in coming weeks, S&amp;P 500 companies are expected to report a 19% jump in profits, data compiled by Bloomberg Intelligence show.</p><p>If the recent history is any guide, analysts may have again underestimated the earnings potential -- S&amp;P 500 firms have crushed estimates by at least 10% for six quarters in a row. One case for the upside: At $51.29 a share, the estimated income represents a 5% decline from the previous three months. That’s at odds with an economy that’s projected to expand 6% this quarter.</p><p>“I don’t think the time to be bearish is now at all. The question for those who have already de-risked -- and many have -- is, when do you get back in?” Jay Pelosky, founder and president of TPW Investment Management, said in an interview with Alix Steel on Bloomberg TV. “Q4 earnings are going to be awesome. I don’t think you can wait until early January. That, in hindsight, would be a mistake.”</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Bull Market Keeps Running Thanks to Growing Profit Forecasts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Bull Market Keeps Running Thanks to Growing Profit Forecasts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-30 11:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-12-28/big-s-p-500-bull-case-lives-on-in-unwavering-profit-forecasts><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wondering how U.S. stocks can keep going up in the face of a newly hawkish Federal Reserve and a fast-spreading omicron variant? The answer once again is uncanny resilience in the key measure of ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-28/big-s-p-500-bull-case-lives-on-in-unwavering-profit-forecasts\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-28/big-s-p-500-bull-case-lives-on-in-unwavering-profit-forecasts","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100360696","content_text":"Wondering how U.S. stocks can keep going up in the face of a newly hawkish Federal Reserve and a fast-spreading omicron variant? The answer once again is uncanny resilience in the key measure of American corporate health.As scary as all the headlines have been, they have yet to enact any appreciable harm on forecasts for S&P 500 earnings. Rather than fall, as case counts climb and the global recovery comes under increasingly worrisome threats, estimated 2022 income for firms in the index actually climbed about $1 to $220.40 a share in the last month.It’s possible that analysts have just been slow cutting numbers as the post-pandemic rally approaches its third year. Certainly, some money managers have raised cash holdings and cut equity exposure in anticipation of a worsening economy.But bulls are acting as though stable profit estimates are believable and unlikely to change. In a year rife with antagonists, from waves of coronavirus outbreaks to supply chain bottlenecks, it’s record earnings per share that kept the bull case intact.“Healthy economic and EPS growth acts as a foundation under a market which is driven by chronic fears,” said Jim Paulsen, chief investment strategist at Leuthold Group, who expects 2022 profits to come in at $240 a share. “You can be worried about Covid, inflation, the Fed, China, Robinhood, SPACs, valuations, etc. But every quarter, EPS keep coming in better than expected, forcing the consensus to upgrade forecasts. And this brings ‘dip buyers’ whenever we have any meaningful pullback.”Investor nerves were tested in December when Fed Chair Jerome Powell announced plans to end the central bank’s asset-buying program earlier and signaled rate hikes for 2022 to fight inflation. Prospects for higher rates and slower growth sparked a quick exodus from risky assets. Technology firms that are unprofitable bore the brunt of selling. So did shares of newly public companies, many of which have yet to make money.But the S&P 500, tracking large and established firms, has stood relatively firm, hovering within 4% of its all-time high thanks to strength on the bottom line. While the index’s 27% rally struck many as hard to explain, the pace of its appreciation has roughly matched the increase in the estimated earnings this year. In other words, the share gains have been driven by improving fundamentals.Even inflation -- public enemy No. 1 in the fixed income market -- has mostly been a tail wind for large-cap companies. Thanks to the ability to pass on higher costs to end users,profit margin, a measure of how much a business can keep its revenue as income, has widened to a record and according to analysts is expected to expand in the following two years.While not every company is able to defend its profitability amid mounting pricing pressures, those that can are winning. A Goldman Sachs Group Inc. basket of stocks with stable high margins has outperformed that with less pricing power by 7 percentage points this quarter, the most since the pandemic trough in March 2020.“What we really want to find are companies with pricing power,” said Giorgio Caputo, senior portfolio manager at J O Hambro Capital Management. “In an inflationary environment, that’s the gift that keeps on giving because companies can pass along their pricing on the way up, and don’t necessarily need to get it back on the way down.”Now as the year draws to a close, “play defensive” has replaced “fear of missing out” as the market’s mantra. In Bank of America Corp.’s latest survey, global money managers this month boosted their cash holdings to the highest level since May 2020 while trimming their stock exposure to a 13-month low.Yet amid a cacophony of macroeconomic stressors, the robust earnings picture is pretty much intact. For the fourth-quarter earnings season that’s about to start in coming weeks, S&P 500 companies are expected to report a 19% jump in profits, data compiled by Bloomberg Intelligence show.If the recent history is any guide, analysts may have again underestimated the earnings potential -- S&P 500 firms have crushed estimates by at least 10% for six quarters in a row. One case for the upside: At $51.29 a share, the estimated income represents a 5% decline from the previous three months. That’s at odds with an economy that’s projected to expand 6% this quarter.“I don’t think the time to be bearish is now at all. The question for those who have already de-risked -- and many have -- is, when do you get back in?” Jay Pelosky, founder and president of TPW Investment Management, said in an interview with Alix Steel on Bloomberg TV. “Q4 earnings are going to be awesome. I don’t think you can wait until early January. That, in hindsight, would be a mistake.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9093759966,"gmtCreate":1643717352575,"gmtModify":1676533847798,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9093759966","repostId":"1167270162","repostType":4,"repost":{"id":"1167270162","kind":"news","pubTimestamp":1643716246,"share":"https://ttm.financial/m/news/1167270162?lang=&edition=fundamental","pubTime":"2022-02-01 19:50","market":"us","language":"en","title":"Hooker Furnishings acquires Sunset West for foraying outdoor furniture segment","url":"https://stock-news.laohu8.com/highlight/detail?id=1167270162","media":"seekingalpha","summary":"To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:H","content":"<html><head></head><body><ul><li>To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:HOFT)completed the acquisition of Sunset West, westcoast-based manufacturer of outdoor furniture, in an all-cash transaction.</li><li>Under deal terms, Sunset West’s management team and all the company&#39;s employees will continue to serve its customers from its headquarters in Vista, California.</li><li>The transaction will enable Sunset West to have warehousing and stronger distribution in the eastern and central regions of the country, access to Hooker Furnishings high-traffic showroom in High Point, and the opportunity to sell into its vast retail and interior design customer base.</li></ul></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hooker Furnishings acquires Sunset West for foraying outdoor furniture segment</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\">\nHooker Furnishings acquires Sunset West for foraying outdoor furniture segment\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-01 19:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3793919-hooker-furnishings-acquires-sunset-west-for-foraying-outdoor-furniture-segment><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:HOFT)completed the acquisition of Sunset West, westcoast-based manufacturer of outdoor furniture, in ...</p>\n\n<a href=\"https://seekingalpha.com/news/3793919-hooker-furnishings-acquires-sunset-west-for-foraying-outdoor-furniture-segment\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HOFT":"胡克家具"},"source_url":"https://seekingalpha.com/news/3793919-hooker-furnishings-acquires-sunset-west-for-foraying-outdoor-furniture-segment","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1167270162","content_text":"To gain immediate market share in the growing outdoor furniture segment, Hooker Furnishings(NASDAQ:HOFT)completed the acquisition of Sunset West, westcoast-based manufacturer of outdoor furniture, in an all-cash transaction.Under deal terms, Sunset West’s management team and all the company's employees will continue to serve its customers from its headquarters in Vista, California.The transaction will enable Sunset West to have warehousing and stronger distribution in the eastern and central regions of the country, access to Hooker Furnishings high-traffic showroom in High Point, and the opportunity to sell into its vast retail and interior design customer base.","news_type":1},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9002032753,"gmtCreate":1641861064837,"gmtModify":1676533655677,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9002032753","repostId":"1168998448","repostType":4,"repost":{"id":"1168998448","kind":"news","pubTimestamp":1641859692,"share":"https://ttm.financial/m/news/1168998448?lang=&edition=fundamental","pubTime":"2022-01-11 08:08","market":"us","language":"en","title":"Apple in Talks to Cover Major League Baseball - Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1168998448","media":"Seeking Alpha","summary":"Apple(NASDAQ:AAPL)has held \"substantial\" talks with Major League Baseball about broadcasting games n","content":"<html><head></head><body><ul><li>Apple(NASDAQ:AAPL)has held &#34;substantial&#34; talks with Major League Baseball about broadcasting games next season on Apple TV+, the <i>New York Post</i> reports.</li><li>That would fulfill some broadcasting observers&#39; long-held ambitions for Apple - but more importantly, it would help Apple keep pace with all the new-tech entrants into sports coverage, notably Amazon.com(NASDAQ:AMZN), which has been making NFL inroads with streaming.</li><li>The package MLB is selling is the weekday national games recently given up by ESPN(NYSE:DIS), which elected to forgo regular Monday and Wednesday games.</li><li>MLB has also talked to Amazon as well as Barstool Sports, according to the report.</li><li>The discussion comes in the middle of a baseball labor lockout, which would need to be resolved before there are games at all in 2022. But Apple and MLB have a long working relationship: The MLB app was one of the first on Apple&#39;s App Store in 2008.</li><li>Apple TV+ has broken through into a world of streaming ratings usually dominated by Netflix on the back of its hit series <i>Ted Lasso.</i></li></ul></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple in Talks to Cover Major League Baseball - Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple in Talks to Cover Major League Baseball - Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-11 08:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3786883-apple-in-talks-to-cover-major-league-baseball-report><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple(NASDAQ:AAPL)has held \"substantial\" talks with Major League Baseball about broadcasting games next season on Apple TV+, the New York Post reports.That would fulfill some broadcasting observers' ...</p>\n\n<a href=\"https://seekingalpha.com/news/3786883-apple-in-talks-to-cover-major-league-baseball-report\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/news/3786883-apple-in-talks-to-cover-major-league-baseball-report","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168998448","content_text":"Apple(NASDAQ:AAPL)has held \"substantial\" talks with Major League Baseball about broadcasting games next season on Apple TV+, the New York Post reports.That would fulfill some broadcasting observers' long-held ambitions for Apple - but more importantly, it would help Apple keep pace with all the new-tech entrants into sports coverage, notably Amazon.com(NASDAQ:AMZN), which has been making NFL inroads with streaming.The package MLB is selling is the weekday national games recently given up by ESPN(NYSE:DIS), which elected to forgo regular Monday and Wednesday games.MLB has also talked to Amazon as well as Barstool Sports, according to the report.The discussion comes in the middle of a baseball labor lockout, which would need to be resolved before there are games at all in 2022. But Apple and MLB have a long working relationship: The MLB app was one of the first on Apple's App Store in 2008.Apple TV+ has broken through into a world of streaming ratings usually dominated by Netflix on the back of its hit series Ted Lasso.","news_type":1},"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9000509677,"gmtCreate":1640224116640,"gmtModify":1676533509118,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like👍","listText":"Like👍","text":"Like👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9000509677","repostId":"1133159085","repostType":4,"repost":{"id":"1133159085","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1640222757,"share":"https://ttm.financial/m/news/1133159085?lang=&edition=fundamental","pubTime":"2021-12-23 09:25","market":"us","language":"en","title":"Is Coinbase The 'Most Obvious Play In The Stock Market Right Now'?","url":"https://stock-news.laohu8.com/highlight/detail?id=1133159085","media":"Benzinga","summary":"Oppenheimer named cryptocurrency exchange Coinbase Global Inc a top pick for 2022 Wednesday, citing ","content":"<p>Oppenheimer named cryptocurrency exchange&nbsp;<b>Coinbase Global Inc</b>&nbsp;a top pick for 2022 Wednesday,&nbsp;citing&nbsp;the continued adoption of digital assets by retailers and&nbsp;institutions.</p>\n<p>\"For institutional investors who are interested in getting exposure to digital assets, we believe COIN is well-positioned to benefit from it,\" Oppenheimer analyst&nbsp;<b>Owen Lau</b>&nbsp;said.</p>\n<p>Ritholtz Wealth Management CEO&nbsp;<b>Josh Brown</b>&nbsp;weighed in Wednesday afternoon on CNBC's \"Closing Bell.\"</p>\n<p>\"This is the most obvious play in the stock market right now as far as a directional bet on whether or not there will be huge flows into crypto from institutions and wealth management next year,\" Brown said. \"And I know there will be because this is who I talk to all day.\"</p>\n<p>Brown was bullish on the outlook for Coinbase in 2022 and beyond. He suggested Coinbase was a more obvious play than even&nbsp;<b>Bitcoin</b>, the world's first cryptocurrency.</p>\n<p>\"This is the play. I think they are positioning themselves as like the Fidelity of digital assets,\" he said. \"So we would make that directional bet.\"</p>\n<p>Brown told CNBC that he had already&nbsp;made that bet:&nbsp;he owns Coinbase shares personally, as well as through his wealth management firm.</p>\n<p>\"So if you want to make that bet, Coinbase is the most obvious way to make that bet,\" he emphasized.</p>\n<p>\"I think Coinbase will work alongside a lot of other things that are related to this market.\"</p>\n<p><b>COIN Price Action:</b>Coinbase has traded as high as $429.54 and as low as $208 since it went public in April.&nbsp;The stock closed up 2.77% at $254.55&nbsp;Wednesday.</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>Is Coinbase The 'Most Obvious Play In The Stock Market Right Now'?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Coinbase The 'Most Obvious Play In The Stock Market Right Now'?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-12-23 09:25</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Oppenheimer named cryptocurrency exchange&nbsp;<b>Coinbase Global Inc</b>&nbsp;a top pick for 2022 Wednesday,&nbsp;citing&nbsp;the continued adoption of digital assets by retailers and&nbsp;institutions.</p>\n<p>\"For institutional investors who are interested in getting exposure to digital assets, we believe COIN is well-positioned to benefit from it,\" Oppenheimer analyst&nbsp;<b>Owen Lau</b>&nbsp;said.</p>\n<p>Ritholtz Wealth Management CEO&nbsp;<b>Josh Brown</b>&nbsp;weighed in Wednesday afternoon on CNBC's \"Closing Bell.\"</p>\n<p>\"This is the most obvious play in the stock market right now as far as a directional bet on whether or not there will be huge flows into crypto from institutions and wealth management next year,\" Brown said. \"And I know there will be because this is who I talk to all day.\"</p>\n<p>Brown was bullish on the outlook for Coinbase in 2022 and beyond. He suggested Coinbase was a more obvious play than even&nbsp;<b>Bitcoin</b>, the world's first cryptocurrency.</p>\n<p>\"This is the play. I think they are positioning themselves as like the Fidelity of digital assets,\" he said. \"So we would make that directional bet.\"</p>\n<p>Brown told CNBC that he had already&nbsp;made that bet:&nbsp;he owns Coinbase shares personally, as well as through his wealth management firm.</p>\n<p>\"So if you want to make that bet, Coinbase is the most obvious way to make that bet,\" he emphasized.</p>\n<p>\"I think Coinbase will work alongside a lot of other things that are related to this market.\"</p>\n<p><b>COIN Price Action:</b>Coinbase has traded as high as $429.54 and as low as $208 since it went public in April.&nbsp;The stock closed up 2.77% at $254.55&nbsp;Wednesday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133159085","content_text":"Oppenheimer named cryptocurrency exchange Coinbase Global Inc a top pick for 2022 Wednesday, citing the continued adoption of digital assets by retailers and institutions.\n\"For institutional investors who are interested in getting exposure to digital assets, we believe COIN is well-positioned to benefit from it,\" Oppenheimer analyst Owen Lau said.\nRitholtz Wealth Management CEO Josh Brown weighed in Wednesday afternoon on CNBC's \"Closing Bell.\"\n\"This is the most obvious play in the stock market right now as far as a directional bet on whether or not there will be huge flows into crypto from institutions and wealth management next year,\" Brown said. \"And I know there will be because this is who I talk to all day.\"\nBrown was bullish on the outlook for Coinbase in 2022 and beyond. He suggested Coinbase was a more obvious play than even Bitcoin, the world's first cryptocurrency.\n\"This is the play. I think they are positioning themselves as like the Fidelity of digital assets,\" he said. \"So we would make that directional bet.\"\nBrown told CNBC that he had already made that bet: he owns Coinbase shares personally, as well as through his wealth management firm.\n\"So if you want to make that bet, Coinbase is the most obvious way to make that bet,\" he emphasized.\n\"I think Coinbase will work alongside a lot of other things that are related to this market.\"\nCOIN Price Action:Coinbase has traded as high as $429.54 and as low as $208 since it went public in April. The stock closed up 2.77% at $254.55 Wednesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":362,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957778953,"gmtCreate":1677574072573,"gmtModify":1677574076006,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/CEI\">$Camber Energy(CEI)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/CEI\">$Camber Energy(CEI)$&nbsp;</a>","text":"$Camber Energy(CEI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957778953","isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001582021,"gmtCreate":1641274616263,"gmtModify":1676533592175,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001582021","repostId":"691268377","repostType":1,"repost":{"id":691268377,"gmtCreate":1640209884550,"gmtModify":1676532422281,"author":{"id":"3573377839632850","authorId":"3573377839632850","name":"IamZhong","avatar":"https://static.tigerbbs.com/3e52a0b5ff1390e09fa1d349bc20337b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573377839632850","authorIdStr":"3573377839632850"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TLRY\">$Tilray Inc.(TLRY)$</a>when is approval?","listText":"<a href=\"https://laohu8.com/S/TLRY\">$Tilray Inc.(TLRY)$</a>when is approval?","text":"$Tilray Inc.(TLRY)$when is approval?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/691268377","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982498903,"gmtCreate":1667225599802,"gmtModify":1676537880656,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9982498903","repostId":"1184349333","repostType":4,"isVote":1,"tweetType":1,"viewCount":483,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982491793,"gmtCreate":1667225586412,"gmtModify":1676537880648,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9982491793","repostId":"1191316505","repostType":4,"repost":{"id":"1191316505","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1667223765,"share":"https://ttm.financial/m/news/1191316505?lang=&edition=fundamental","pubTime":"2022-10-31 21:42","market":"us","language":"en","title":"Credit Suisse Stock Jumps 5.7% in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1191316505","media":"Tiger Newspress","summary":"Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion)","content":"<html><head></head><body><p>Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank&#39;s bid to tackle the biggest crisis in its 166-year history.</p><p>Credit Suisse Stock Jumps 5.7% in Morning Trading.<img src=\"https://static.tigerbbs.com/5b0b1b35401eb6ff5f7a939a3d8b8e43\" tg-width=\"798\" tg-height=\"720\" width=\"100%\" height=\"auto\"/>Switzerland&#39;s second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.</p><p>Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.</p><p>The bank now is offering new and existing shareholders the chance to buy new shares in the lender.</p><p>It said new investors have committed to buying 462 million new shares at a purchase price of 3.82 Swiss francs ($3.83), equivalent to 94% of the volume weighted average price of Credit Suisse shares on Oct. 27 and 28, raising 1.76 billion Swiss francs.</p><p>Some 307.6 million of the new shares are expected to be bought by Saudi National Bank, giving it a 9.9% stake in Credit Suisse.</p><p>Existing investors meanwhile will get the chance to buy 889 million shares being offered at 2.52 francs per share, with subscription rights corresponding to the size of their present stake.</p><p>It is expected that seven pre-emptive subscription rights will entitle their holder to purchase two new shares at a 32% discount on the reference price, Credit Suisse said.</p><p>Both issues have to be approved at an extraordinary general meeting due to be held on Nov. 23.</p><p>If shareholders reject the plan, Credit Suisse said it would issue 1.8 billion new shares at an offer price of 2.27 francs per share, which would still enable it to raise 4 billion francs.</p><p>The bank has been pushing to sell assets to raise money and free up capital to try to limit how much cash it would have to raise, handle its legacy litigation costs and retain a cushion for rough markets ahead.</p><p>On Monday, Credit Suisse said it would act as its own global coordinator for the rights offering, while Deutsche Bank, Morgan Stanley, RBC Capital Markets and Societe Generale would be Joint Lead Managers and Joint Bookrunners. ($1 = 0.9972 Swiss francs)</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>Credit Suisse Stock Jumps 5.7% in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; 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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\">\nCredit Suisse Stock Jumps 5.7% in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-10-31 21:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank&#39;s bid to tackle the biggest crisis in its 166-year history.</p><p>Credit Suisse Stock Jumps 5.7% in Morning Trading.<img src=\"https://static.tigerbbs.com/5b0b1b35401eb6ff5f7a939a3d8b8e43\" tg-width=\"798\" tg-height=\"720\" width=\"100%\" height=\"auto\"/>Switzerland&#39;s second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.</p><p>Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.</p><p>The bank now is offering new and existing shareholders the chance to buy new shares in the lender.</p><p>It said new investors have committed to buying 462 million new shares at a purchase price of 3.82 Swiss francs ($3.83), equivalent to 94% of the volume weighted average price of Credit Suisse shares on Oct. 27 and 28, raising 1.76 billion Swiss francs.</p><p>Some 307.6 million of the new shares are expected to be bought by Saudi National Bank, giving it a 9.9% stake in Credit Suisse.</p><p>Existing investors meanwhile will get the chance to buy 889 million shares being offered at 2.52 francs per share, with subscription rights corresponding to the size of their present stake.</p><p>It is expected that seven pre-emptive subscription rights will entitle their holder to purchase two new shares at a 32% discount on the reference price, Credit Suisse said.</p><p>Both issues have to be approved at an extraordinary general meeting due to be held on Nov. 23.</p><p>If shareholders reject the plan, Credit Suisse said it would issue 1.8 billion new shares at an offer price of 2.27 francs per share, which would still enable it to raise 4 billion francs.</p><p>The bank has been pushing to sell assets to raise money and free up capital to try to limit how much cash it would have to raise, handle its legacy litigation costs and retain a cushion for rough markets ahead.</p><p>On Monday, Credit Suisse said it would act as its own global coordinator for the rights offering, while Deutsche Bank, Morgan Stanley, RBC Capital Markets and Societe Generale would be Joint Lead Managers and Joint Bookrunners. ($1 = 0.9972 Swiss francs)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191316505","content_text":"Credit Suisse on Monday unveiled details of its plan to raise 4 billion Swiss francs ($4.01 billion) from investors to support the embattled bank's bid to tackle the biggest crisis in its 166-year history.Credit Suisse Stock Jumps 5.7% in Morning Trading.Switzerland's second-biggest lender is raising new capital to fund an overhaul, which will see it cut thousands of jobs and shift its focus away from investment banking and towards the less turbulent area of wealth management.Its reputation has been battered by a string of scandals and losses, including a $5.5 billion loss from the unravelling of U.S. investment firm Archegos, and it had to freeze $10 billion worth of supply chain finance funds linked to insolvent British financier Greensill.The bank now is offering new and existing shareholders the chance to buy new shares in the lender.It said new investors have committed to buying 462 million new shares at a purchase price of 3.82 Swiss francs ($3.83), equivalent to 94% of the volume weighted average price of Credit Suisse shares on Oct. 27 and 28, raising 1.76 billion Swiss francs.Some 307.6 million of the new shares are expected to be bought by Saudi National Bank, giving it a 9.9% stake in Credit Suisse.Existing investors meanwhile will get the chance to buy 889 million shares being offered at 2.52 francs per share, with subscription rights corresponding to the size of their present stake.It is expected that seven pre-emptive subscription rights will entitle their holder to purchase two new shares at a 32% discount on the reference price, Credit Suisse said.Both issues have to be approved at an extraordinary general meeting due to be held on Nov. 23.If shareholders reject the plan, Credit Suisse said it would issue 1.8 billion new shares at an offer price of 2.27 francs per share, which would still enable it to raise 4 billion francs.The bank has been pushing to sell assets to raise money and free up capital to try to limit how much cash it would have to raise, handle its legacy litigation costs and retain a cushion for rough markets ahead.On Monday, Credit Suisse said it would act as its own global coordinator for the rights offering, while Deutsche Bank, Morgan Stanley, RBC Capital Markets and Societe Generale would be Joint Lead Managers and Joint Bookrunners. ($1 = 0.9972 Swiss francs)","news_type":1},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022345020,"gmtCreate":1653484296160,"gmtModify":1676535290040,"author":{"id":"4097486973156010","authorId":"4097486973156010","name":"BaldoRocks","avatar":"https://static.tigerbbs.com/74f3fe1c5f3f5948a1c567387aa6c7ba","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4097486973156010","authorIdStr":"4097486973156010"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022345020","repostId":"9022329945","repostType":1,"repost":{"id":9022329945,"gmtCreate":1653480016388,"gmtModify":1676535289229,"author":{"id":"9000000000000641","authorId":"9000000000000641","name":"CyrilDavy","avatar":"https://static.tigerbbs.com/fd67ba4a6ca5ca66b27af6afcce989dc","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"9000000000000641","authorIdStr":"9000000000000641"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KO\">$Coca-Cola(KO)$</a> KO has a higher dividend yield, has had stronger share performance, and has more robust earnings growth rates. Additionally, the company has witnessed more substantial estimate revisions and hasn’t had nearly as many analysts lowering their outlook. For these reasons, I believe that KO would be a better place to park your cash.","listText":"<a href=\"https://laohu8.com/S/KO\">$Coca-Cola(KO)$</a> KO has a higher dividend yield, has had stronger share performance, and has more robust earnings growth rates. Additionally, the company has witnessed more substantial estimate revisions and hasn’t had nearly as many analysts lowering their outlook. For these reasons, I believe that KO would be a better place to park your cash.","text":"$Coca-Cola(KO)$ KO has a higher dividend yield, has had stronger share performance, and has more robust earnings growth rates. Additionally, the company has witnessed more substantial estimate revisions and hasn’t had nearly as many analysts lowering their outlook. For these reasons, I believe that KO would be a better place to park your cash.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022329945","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":543,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}