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Helloyah
2022-12-25
Monitor
Bulls And Bears Of The Week: Tesla, Apple, Disney, And Schiff Says MicroStrategy's Bitcoin Buys A Sign Of Desperation
Helloyah
2022-12-21
Monitor
Year in Review: Can Singapore Hospitality REITs Soar in 2023?
Helloyah
2022-12-19
Monitor
Will Tesla Ever Be a Trillion-Dollar Stock Again?
Helloyah
2022-12-17
Monitor
Tesla: Potential 38.6% Annualized Return
Helloyah
2022-12-16
Monitor
With A Forward P/E Of 28, Is Tesla Now A Value Stock?
Helloyah
2022-12-15
Monitor
In 60 Seconds Before CPI Hit, Heavy Trading Drove Mystery Rally
Helloyah
2022-12-14
Monitor
Fed to Downshift to Half-Point Hike But Point to Higher Peak
Helloyah
2022-12-12
Monitor
The Fed May Hand The Market A Huge Surprise This Week
Helloyah
2022-12-11
Monitor
3 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond
Helloyah
2022-12-09
Great tips
7 Singapore Stocks That Paid Uninterrupted Dividends for a Decade
Helloyah
2022-12-08
Monitor
Singapore Shares May Open Under Pressure On Thursday
Helloyah
2022-12-07
Monitor
3 Supercharged Growth Stocks With 393% to 1,153% Upside in 2023, According to Wall Street
Helloyah
2022-12-05
Monitor
5 Monster Stocks to Buy Before 2023
Helloyah
2022-12-04
Monitor
11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall
Helloyah
2022-12-04
Monitor
SGX Weekly Review: Singapore Airlines, Savings Rates for Local Banks and SATS’ Acquisition Funding Plan
Helloyah
2022-12-02
Monitor
TSMC Vs. Intel: The New King Of The Hill
Helloyah
2022-12-02
Monitor
Stocks Open Higher to Start December As Traders Cheer Data Pointing to Easing Inflation
Helloyah
2022-12-01
Monitor
Stocks Open Little Changed As Investors Await Powell Speech
Helloyah
2022-11-30
Monitor
Is GOOG Stock About to Turn a Corner? Not So Fast
Helloyah
2022-11-29
Monitor
Where Will Tesla Stock Be In 5 Years?
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The year's final full week of trading resulted in the S&P 500 finishing 0.20% lower, the Nasdaq Composite dropping by 1.94%, and the Dow nudging 0.86% higher to end the week.</p><p>On Friday, the <b>Bureau of Economic Analysis</b> reported the personal consumption expenditures price index increased by 5.5% year-over-year in the month of November, down from 6.1% in October. Core PCE, which excludes volatile food and energy prices, was up 4.7%, in linewith analyst estimates.</p><p>Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.</p><p><b>The Bulls</b></p><p>"Morgan Stanley Expects Tesla To Unleash Cost And Scale Advantages As 'Competitive Force': Will Other Automakers Survive The Thrashing?" by Adam Eckert, explains why Morgan Stanley analysts see the recent drop in <b>Tesla Inc's</b> stock as a buying opportunity.</p><p>In "Royal Caribbean Enters The Metaverse With A Virtual Cruise Ship, Fit With NFTs," AJ Fabino writes about <b>Royal Caribbean Group’s</b> Celebrity Cruises entrance into the metaverse, as the company filed a patent related to its launch of a digital cruise ship.</p><p>"Disney Stock Could Have 43% Upside If Bob Iger Makes This Move In 2023, Analyst Says," by Chris Katje, outlines why an analyst is anticipating share of <b>The Disney Company</b> to rise now that CEO <b>Bob Iger</b> is back in charge.</p><p><b>The Bears</b></p><p>"Gold Bull Peter Schiff Calls MicroStrategy's Bitcoin Purchase 'Hail Mary' Attempt To Avoid Liquidation," by Mehab Qureshi, details <b>Peter Schiff</b>'spost stating that <b>MicroStrategy Inc's</b> purchases of <b>Bitcoin</b> was a "Hail Mary" attempt to avoid the company's inevitable liquidation.</p><p>In "Apple 'Weaker Than Consensus,' Not Much Going For EVs, Server Either: Analyst Says 'No Reason To Be Optimistic' For Tech Sector In 2023," Shanthi Rexaline explains why <b>Apple Inc.</b> analyst <b>Ming-Chi Kuo</b> is not optimistic about the prospects of major tech stocks in 2023.</p><p>"Charles Hoskinson Slams Coinbase For Ignoring Cardano In Latest Report: 'Pretty Low And Pretty Sad,'" by Mehab Qureshi, looks at the reaction of<b>Cardano</b> founder <b>Charles Hoskinson</b> to his crypto not being mentioned in a new <b>Coinbase Global Inc</b> report.</p></body></html>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bulls And Bears Of The Week: Tesla, Apple, Disney, And Schiff Says MicroStrategy's Bitcoin Buys A Sign Of Desperation</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\">\nBulls And Bears Of The Week: Tesla, Apple, Disney, And Schiff Says MicroStrategy's Bitcoin Buys A Sign Of Desperation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-25 09:03 GMT+8 <a href=https://www.benzinga.com/news/large-cap/22/12/30187397/bulls-and-bears-of-the-week-tesla-apple-disney-and-schiff-says-microstrategys-bitcoin-buys-a-sign-><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZINGER KEY POINTSWhy Morgan Stanley analysts see the recent drop in Tesla's stock as a buying opportunity.Apple analyst Ming-Chi Kuo is not optimistic about the prospects of major tech stocks in 2023....</p>\n\n<a href=\"https://www.benzinga.com/news/large-cap/22/12/30187397/bulls-and-bears-of-the-week-tesla-apple-disney-and-schiff-says-microstrategys-bitcoin-buys-a-sign-\">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","DIS":"迪士尼","AAPL":"苹果"},"source_url":"https://www.benzinga.com/news/large-cap/22/12/30187397/bulls-and-bears-of-the-week-tesla-apple-disney-and-schiff-says-microstrategys-bitcoin-buys-a-sign-","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129095687","content_text":"ZINGER KEY POINTSWhy Morgan Stanley analysts see the recent drop in Tesla's stock as a buying opportunity.Apple analyst Ming-Chi Kuo is not optimistic about the prospects of major tech stocks in 2023.Benzinga examined the prospects formany investors' favorite stocksover the last week — here's a look at some of our top stories.With 2022 coming to a close, the much-anticipated \"Santa Claus rally\" period is now underway, as the markets were muted ahead of Christmas. The year's final full week of trading resulted in the S&P 500 finishing 0.20% lower, the Nasdaq Composite dropping by 1.94%, and the Dow nudging 0.86% higher to end the week.On Friday, the Bureau of Economic Analysis reported the personal consumption expenditures price index increased by 5.5% year-over-year in the month of November, down from 6.1% in October. Core PCE, which excludes volatile food and energy prices, was up 4.7%, in linewith analyst estimates.Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.The Bulls\"Morgan Stanley Expects Tesla To Unleash Cost And Scale Advantages As 'Competitive Force': Will Other Automakers Survive The Thrashing?\" by Adam Eckert, explains why Morgan Stanley analysts see the recent drop in Tesla Inc's stock as a buying opportunity.In \"Royal Caribbean Enters The Metaverse With A Virtual Cruise Ship, Fit With NFTs,\" AJ Fabino writes about Royal Caribbean Group’s Celebrity Cruises entrance into the metaverse, as the company filed a patent related to its launch of a digital cruise ship.\"Disney Stock Could Have 43% Upside If Bob Iger Makes This Move In 2023, Analyst Says,\" by Chris Katje, outlines why an analyst is anticipating share of The Disney Company to rise now that CEO Bob Iger is back in charge.The Bears\"Gold Bull Peter Schiff Calls MicroStrategy's Bitcoin Purchase 'Hail Mary' Attempt To Avoid Liquidation,\" by Mehab Qureshi, details Peter Schiff'spost stating that MicroStrategy Inc's purchases of Bitcoin was a \"Hail Mary\" attempt to avoid the company's inevitable liquidation.In \"Apple 'Weaker Than Consensus,' Not Much Going For EVs, Server Either: Analyst Says 'No Reason To Be Optimistic' For Tech Sector In 2023,\" Shanthi Rexaline explains why Apple Inc. analyst Ming-Chi Kuo is not optimistic about the prospects of major tech stocks in 2023.\"Charles Hoskinson Slams Coinbase For Ignoring Cardano In Latest Report: 'Pretty Low And Pretty Sad,'\" by Mehab Qureshi, looks at the reaction ofCardano founder Charles Hoskinson to his crypto not being mentioned in a new Coinbase Global Inc report.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926577375,"gmtCreate":1671592648598,"gmtModify":1676538561251,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926577375","repostId":"1176526104","repostType":4,"repost":{"id":"1176526104","pubTimestamp":1671587213,"share":"https://www.laohu8.com/m/news/1176526104?lang=&edition=full","pubTime":"2022-12-21 09:46","market":"sg","language":"en","title":"Year in Review: Can Singapore Hospitality REITs Soar in 2023?","url":"https://stock-news.laohu8.com/highlight/detail?id=1176526104","media":"The Smart Investor","summary":"The REIT sector has been battered this year as the asset class faces a barrage of headwinds.A combination of surging inflation and soaring interest rates has dampened sentiment for the sector, causing","content":"<html><head></head><body><p>The REIT sector has been battered this year as the asset class faces a barrage of headwinds.</p><p>A combination of surging inflation and soaring interest rates has dampened sentiment for the sector, causing unit prices to fall across the board.</p><p>Despite the pessimism, many REITs continued to dole out steady distributions, fulfilling their role as effective passive income providers to income-seeking investors.</p><p>Hospitality REITs, in particular, have held up better than their counterparts in the commercial and industrial space.</p><p><a href=\"https://laohu8.com/S/J85.SI\">CDL Hospitality Trusts</a>, or CDLHT, has seen its unit price inch up 1.7% year to date while <a href=\"https://laohu8.com/S/HMN.SI\">CapitaLand Ascott Trust’s</a>, or CLAS, the unit price is up 1% for the year.</p><p><a href=\"https://laohu8.com/S/Q5T.SI\">Far East Hospitality Trust</a>, or FEHT, is the standout winner with an 8.5% year-to-date gain.</p><p>In contrast, industrial REITs such as <a href=\"https://laohu8.com/S/M44U.SI\">Mapletree Logistics Trust</a> and <a href=\"https://laohu8.com/S/AJBU.SI\">Keppel DC REIT</a> are down by 15% and 25%, respectively.</p><p>Seeing how the hospitality REITs are holding up, can they do much better in 2023?</p><h3>Higher DPUs all around</h3><p>The trio of hospitality REITs are reporting much better financial numbers this year as borders reopen and tourism resumes.</p><p>For the first nine months of 2022 (9M2022), CDLHT reported a 43.7% year on year jump in net property income (NPI) to S$82.6 million.</p><p>The hospitality REIT also saw its distribution per stapled security (DPSS) surge 67.2% year on year to S$0.0204 for its 2022’s first half (1H2022).</p><p>For CLAS’ third quarter 2022 (3Q2022), same-store gross profit excluding acquisitions soared 70% year on year, demonstrating a strong recovery for the REIT.</p><p>Back in 1H2022, CLAS saw its DPSS increase by 14% year on year to S$0.0233 while its revenue per available unit (RevPAU) surged by 60% year on year from S$60 per day to S$96.</p><p>FEHT did well too, with DPSS climbing 40% year on year to S$0.0154.</p><p>With DPSS showing a healthy rebound from the previous year, it’s no wonder that these hospitality REITs’ unit prices held up well.</p><h3>Catalysts for doing better</h3><p>Looking ahead, there are good reasons to believe that this performance can continue.</p><p>Just last Sunday, Transport Minister S Iswaran reported that a million passengers pass through Changi Airport each week, more than twice the number that passed through compared to April when borders were first reopened.</p><p>What’s more, the airport is well-equipped to handle this higher volume as Terminal 4 and the southern wing of Terminal 2 had just reopened on September 13 and October 11, respectively.</p><p>Singapore Airlines Limited’s (SGX: C6L) passenger numbers also paint a rosy outlook.</p><p>The airline’s passenger volume touched 2.4 million in November, up nearly eightfold from the same period a year ago.</p><p>The number of passengers has seen a steady climb from 1.45 million back in April.</p><p>China has also loosened its COVID-zero policy and is now facing waves of COVID-19 cases.</p><p>When these waves pass, its residents will be ready to travel once again, adding to the number of tourists going abroad for long-awaited vacations.</p><p>Many hotels have also rebranded themselves to capture higher tourist demand in the coming months.</p><p>Mandarin Orchard Hotel was rebranded as Hilton Singapore Orchard in February and is well-positioned for more growth in line with heightened travel demand.</p><p>The hotel, which is part of OUE Commercial REIT’s (SGX: TS0U) portfolio, will complete its ongoing refurbishment of 446 rooms by the end of this year.</p><p>Another nine new hotel brands are set to open in Singapore in the next two years, and the Singapore Tourism Board reported that the number of inbound tourists had catapulted from just 57,000 in January to 816,000 in November.</p><p>Not only are more tourists flocking to Singapore, but they are also willing to pay an average of S$280 a night, up from S$220 back in 2019, as reported by the Department of Statistics.</p><p>These statistics bode well for hospitality REITs as it shows tourists’ willingness to travel here and their propensity to spend more.</p><h3>Risks on the horizon</h3><p>Meanwhile, we cannot discount the looming risks posed by high inflation and the jump in interest rates.</p><p>REIT borrowing costs should creep up steadily while operating costs will also increase next year, thereby crimping distributable income.</p><p>There is the possibility that a recession may occur in 2023 as consumer demand is curtailed and people cut back on discretionary spending on vacations.</p><p>The current spike in demand can be attributed to “revenge spending” because people have been cooped up for far too long.</p><p>Once demand normalises and the effects of inflation and interest rates roll in, it could offset the current surge.</p><h3>Get Smart: A year of two halves</h3><p>We may see a year of two halves in 2023.</p><p>The surge in tourism and the lingering optimism should carry over into the first half of next year.</p><p>However, the risks mentioned above may rear their ugly head and give the hospitality REITs a tougher time.</p><p>Hence, investors should closely watch the numbers and commentary from the REIT managers to assess how they will manage these headwinds.</p></body></html>","source":"lsy1602567310727","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>Year in Review: Can Singapore Hospitality REITs Soar in 2023?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYear in Review: Can Singapore Hospitality REITs Soar in 2023?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-21 09:46 GMT+8 <a href=https://thesmartinvestor.com.sg/year-in-review-can-singapore-hospitality-reits-soar-in-2023/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The REIT sector has been battered this year as the asset class faces a barrage of headwinds.A combination of surging inflation and soaring interest rates has dampened sentiment for the sector, causing...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/year-in-review-can-singapore-hospitality-reits-soar-in-2023/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"J85.SI":"城市酒店信托","M44U.SI":"丰树物流信托","Q5T.SI":"远东酒店信托","HMN.SI":"凯德雅诗阁信托","AJBU.SI":"吉宝数据中心房地产信托"},"source_url":"https://thesmartinvestor.com.sg/year-in-review-can-singapore-hospitality-reits-soar-in-2023/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176526104","content_text":"The REIT sector has been battered this year as the asset class faces a barrage of headwinds.A combination of surging inflation and soaring interest rates has dampened sentiment for the sector, causing unit prices to fall across the board.Despite the pessimism, many REITs continued to dole out steady distributions, fulfilling their role as effective passive income providers to income-seeking investors.Hospitality REITs, in particular, have held up better than their counterparts in the commercial and industrial space.CDL Hospitality Trusts, or CDLHT, has seen its unit price inch up 1.7% year to date while CapitaLand Ascott Trust’s, or CLAS, the unit price is up 1% for the year.Far East Hospitality Trust, or FEHT, is the standout winner with an 8.5% year-to-date gain.In contrast, industrial REITs such as Mapletree Logistics Trust and Keppel DC REIT are down by 15% and 25%, respectively.Seeing how the hospitality REITs are holding up, can they do much better in 2023?Higher DPUs all aroundThe trio of hospitality REITs are reporting much better financial numbers this year as borders reopen and tourism resumes.For the first nine months of 2022 (9M2022), CDLHT reported a 43.7% year on year jump in net property income (NPI) to S$82.6 million.The hospitality REIT also saw its distribution per stapled security (DPSS) surge 67.2% year on year to S$0.0204 for its 2022’s first half (1H2022).For CLAS’ third quarter 2022 (3Q2022), same-store gross profit excluding acquisitions soared 70% year on year, demonstrating a strong recovery for the REIT.Back in 1H2022, CLAS saw its DPSS increase by 14% year on year to S$0.0233 while its revenue per available unit (RevPAU) surged by 60% year on year from S$60 per day to S$96.FEHT did well too, with DPSS climbing 40% year on year to S$0.0154.With DPSS showing a healthy rebound from the previous year, it’s no wonder that these hospitality REITs’ unit prices held up well.Catalysts for doing betterLooking ahead, there are good reasons to believe that this performance can continue.Just last Sunday, Transport Minister S Iswaran reported that a million passengers pass through Changi Airport each week, more than twice the number that passed through compared to April when borders were first reopened.What’s more, the airport is well-equipped to handle this higher volume as Terminal 4 and the southern wing of Terminal 2 had just reopened on September 13 and October 11, respectively.Singapore Airlines Limited’s (SGX: C6L) passenger numbers also paint a rosy outlook.The airline’s passenger volume touched 2.4 million in November, up nearly eightfold from the same period a year ago.The number of passengers has seen a steady climb from 1.45 million back in April.China has also loosened its COVID-zero policy and is now facing waves of COVID-19 cases.When these waves pass, its residents will be ready to travel once again, adding to the number of tourists going abroad for long-awaited vacations.Many hotels have also rebranded themselves to capture higher tourist demand in the coming months.Mandarin Orchard Hotel was rebranded as Hilton Singapore Orchard in February and is well-positioned for more growth in line with heightened travel demand.The hotel, which is part of OUE Commercial REIT’s (SGX: TS0U) portfolio, will complete its ongoing refurbishment of 446 rooms by the end of this year.Another nine new hotel brands are set to open in Singapore in the next two years, and the Singapore Tourism Board reported that the number of inbound tourists had catapulted from just 57,000 in January to 816,000 in November.Not only are more tourists flocking to Singapore, but they are also willing to pay an average of S$280 a night, up from S$220 back in 2019, as reported by the Department of Statistics.These statistics bode well for hospitality REITs as it shows tourists’ willingness to travel here and their propensity to spend more.Risks on the horizonMeanwhile, we cannot discount the looming risks posed by high inflation and the jump in interest rates.REIT borrowing costs should creep up steadily while operating costs will also increase next year, thereby crimping distributable income.There is the possibility that a recession may occur in 2023 as consumer demand is curtailed and people cut back on discretionary spending on vacations.The current spike in demand can be attributed to “revenge spending” because people have been cooped up for far too long.Once demand normalises and the effects of inflation and interest rates roll in, it could offset the current surge.Get Smart: A year of two halvesWe may see a year of two halves in 2023.The surge in tourism and the lingering optimism should carry over into the first half of next year.However, the risks mentioned above may rear their ugly head and give the hospitality REITs a tougher time.Hence, investors should closely watch the numbers and commentary from the REIT managers to assess how they will manage these headwinds.","news_type":1},"isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9928457443,"gmtCreate":1671387083883,"gmtModify":1676538528127,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9928457443","repostId":"2292831501","repostType":4,"repost":{"id":"2292831501","pubTimestamp":1671321913,"share":"https://www.laohu8.com/m/news/2292831501?lang=&edition=full","pubTime":"2022-12-18 08:05","market":"us","language":"en","title":"Will Tesla Ever Be a Trillion-Dollar Stock Again?","url":"https://stock-news.laohu8.com/highlight/detail?id=2292831501","media":"Motley Fool","summary":"The electric car maker has a long road ahead to make it back to that elite club.","content":"<html><head></head><body><p>It wasn't all that long ago that <b>Tesla</b> had a trillion-dollar valuation. As recently as April, it was part of a tiny but exclusive club of companies that had broken through the threshold. Today that club has just three members: <b>Apple</b>, <b>Microsoft</b>, and <b>Alphabet</b>.</p><p>Since then, Tesla's stock has fallen hard, losing nearly 60% of its value, and some are actively rooting for it to fail.</p><p>While Tesla has its fans who seemingly wear rose-colored glasses about any of its flaws, the critics don green eyeshades tinted a few shades too dark that blind them to the EV maker's enduring potential.</p><p>Somewhere between those extremes lies the truth about Tesla, so let's see if there is any hope the premier EV stock can be a $1 trillion company again.</p><h2>First off the line</h2><p>There's no doubt Elon Musk and Tesla brought electric vehicles into the mainstream. While there were other EVs before Tesla (they've actually existed for almost 200 years), it was the Roadster that changed the auto industry due to the range of its battery, speed, acceleration, and price that made it comparable to gas-powered cars.</p><p>That first-mover status boosted Tesla to the forefront of the electric car industry, a place it remains in with a 64% market share, as of the end of the third quarter. While that's down from the 75% it held back in the first quarter, it's also a natural consequence of so many competitors entering the market.</p><p>The Model Y and Model 3 have sold a combined 347,000 vehicles so far this year, far ahead of <b>Ford</b>'s No. 2 Mustang Mach-E at 28,000. In fact, Tesla owns four of the top six slots (<b>General Motors'</b> Chevy Bolt is fourth with 22,000 vehicles sold).</p><p>However, <b>Bank of America</b> recently issued a report indicating its analysts expect both Ford and GM to surpass Tesla's market share, which is forecast to fall to just 11% in North America by 2025.</p><p>Tesla is currently the big fish in a small pond. In just a few years time, however, EVs will equal 10% of the entire auto market and the two big automakers' EVs are cheaper than Tesla's and appeal to a different car buyer.</p><h2>Built on a shaky foundation</h2><p>Despite the expected growth in demand for EVs, Tesla and other manufacturers have a number of hurdles they're going to need to surmount that could make achieving their goals feasible.</p><p>First, demand is propped up by tax credits, and should they go away; sales could falter. The so-called Inflation Reduction Act passed in August created a new array of incentives for the next few years, but it may not be fiscally responsible to keep them going indefinitely.</p><p>Second, the electric grid will be severely stressed from all the electric cars plugging in to charge and will need to be overhauled. That may not be feasible or cheap to accomplish as it will result in large costs for generating, transmitting, and storing power. Even as California was announcing a ban on fossil fuel-powered vehicles by 2035 this past summer, it was also asking EV owners not to charge their cars to help conserve energy.</p><p>Third, EV makers face soaring costs for finite resources, particularly for the batteries needed to power their vehicles. Lithium, for example, a key component of EV batteries, currently costs around $80,000 a tonne, or 1,000% more than it did two years ago.</p><p>EVs also require substantial amounts of graphite, cobalt, rare earth metals, and nickel, and the total global production of these metals cannot match demand for them.</p><h2>A long road ahead</h2><p>While there is a search happening for alternatives to using different materials to power EVs and to upgrading and overhauling the electric grid, car manufacturers may face difficulty in seeing the growth they forecast.</p><p>Tesla itself is having a tough time selling cars in China. Although sales in November were up 90% year over year, it was a result of cutting prices and providing greater incentives to buyers. The 100,000 vehicles sold was also half of what Chinese rival BYD sold. Competition in Europe will be fierce, too.</p><p>Musk has also been selling Tesla stock, selling 19.5 million shares in November and another 20 million or so in December, likely to help finance his acquisition of Twitter.</p><p>Over the long haul, though, Tesla doesn't seem like it's going to run off the road and still has plenty of opportunity for growth. Yet it would require a near tripling in value for its stock to hit a $1 trillion valuation. It seems plausible, but investors may need the patience to wait for a number of years for that to happen.</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>Will Tesla Ever Be a Trillion-Dollar Stock Again?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill Tesla Ever Be a Trillion-Dollar Stock Again?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-18 08:05 GMT+8 <a href=https://www.fool.com/investing/2022/12/17/will-tesla-ever-be-a-trillion-dollar-stock-again/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It wasn't all that long ago that Tesla had a trillion-dollar valuation. As recently as April, it was part of a tiny but exclusive club of companies that had broken through the threshold. Today that ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/17/will-tesla-ever-be-a-trillion-dollar-stock-again/\">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.fool.com/investing/2022/12/17/will-tesla-ever-be-a-trillion-dollar-stock-again/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2292831501","content_text":"It wasn't all that long ago that Tesla had a trillion-dollar valuation. As recently as April, it was part of a tiny but exclusive club of companies that had broken through the threshold. Today that club has just three members: Apple, Microsoft, and Alphabet.Since then, Tesla's stock has fallen hard, losing nearly 60% of its value, and some are actively rooting for it to fail.While Tesla has its fans who seemingly wear rose-colored glasses about any of its flaws, the critics don green eyeshades tinted a few shades too dark that blind them to the EV maker's enduring potential.Somewhere between those extremes lies the truth about Tesla, so let's see if there is any hope the premier EV stock can be a $1 trillion company again.First off the lineThere's no doubt Elon Musk and Tesla brought electric vehicles into the mainstream. While there were other EVs before Tesla (they've actually existed for almost 200 years), it was the Roadster that changed the auto industry due to the range of its battery, speed, acceleration, and price that made it comparable to gas-powered cars.That first-mover status boosted Tesla to the forefront of the electric car industry, a place it remains in with a 64% market share, as of the end of the third quarter. While that's down from the 75% it held back in the first quarter, it's also a natural consequence of so many competitors entering the market.The Model Y and Model 3 have sold a combined 347,000 vehicles so far this year, far ahead of Ford's No. 2 Mustang Mach-E at 28,000. In fact, Tesla owns four of the top six slots (General Motors' Chevy Bolt is fourth with 22,000 vehicles sold).However, Bank of America recently issued a report indicating its analysts expect both Ford and GM to surpass Tesla's market share, which is forecast to fall to just 11% in North America by 2025.Tesla is currently the big fish in a small pond. In just a few years time, however, EVs will equal 10% of the entire auto market and the two big automakers' EVs are cheaper than Tesla's and appeal to a different car buyer.Built on a shaky foundationDespite the expected growth in demand for EVs, Tesla and other manufacturers have a number of hurdles they're going to need to surmount that could make achieving their goals feasible.First, demand is propped up by tax credits, and should they go away; sales could falter. The so-called Inflation Reduction Act passed in August created a new array of incentives for the next few years, but it may not be fiscally responsible to keep them going indefinitely.Second, the electric grid will be severely stressed from all the electric cars plugging in to charge and will need to be overhauled. That may not be feasible or cheap to accomplish as it will result in large costs for generating, transmitting, and storing power. Even as California was announcing a ban on fossil fuel-powered vehicles by 2035 this past summer, it was also asking EV owners not to charge their cars to help conserve energy.Third, EV makers face soaring costs for finite resources, particularly for the batteries needed to power their vehicles. Lithium, for example, a key component of EV batteries, currently costs around $80,000 a tonne, or 1,000% more than it did two years ago.EVs also require substantial amounts of graphite, cobalt, rare earth metals, and nickel, and the total global production of these metals cannot match demand for them.A long road aheadWhile there is a search happening for alternatives to using different materials to power EVs and to upgrading and overhauling the electric grid, car manufacturers may face difficulty in seeing the growth they forecast.Tesla itself is having a tough time selling cars in China. Although sales in November were up 90% year over year, it was a result of cutting prices and providing greater incentives to buyers. The 100,000 vehicles sold was also half of what Chinese rival BYD sold. Competition in Europe will be fierce, too.Musk has also been selling Tesla stock, selling 19.5 million shares in November and another 20 million or so in December, likely to help finance his acquisition of Twitter.Over the long haul, though, Tesla doesn't seem like it's going to run off the road and still has plenty of opportunity for growth. Yet it would require a near tripling in value for its stock to hit a $1 trillion valuation. It seems plausible, but investors may need the patience to wait for a number of years for that to happen.","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9928689122,"gmtCreate":1671259982866,"gmtModify":1676538517259,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9928689122","repostId":"2292004292","repostType":4,"repost":{"id":"2292004292","pubTimestamp":1671248962,"share":"https://www.laohu8.com/m/news/2292004292?lang=&edition=full","pubTime":"2022-12-17 11:49","market":"us","language":"en","title":"Tesla: Potential 38.6% Annualized Return","url":"https://stock-news.laohu8.com/highlight/detail?id=2292004292","media":"Seeking Alpha","summary":"SummaryTesla is expanding their product offerings.There are numerous potential positive and negative","content":"<html><head></head><body><h3>Summary</h3><ul><li>Tesla is expanding their product offerings.</li><li>There are numerous potential positive and negative impacts for 2023.</li><li>The Inflation Reduction Act may provide a $7,500 incentive on some vehicles beginning on 1/1/23.</li></ul><h2>Investment Thesis</h2><p>Tesla (NASDAQ:TSLA) should see higher stock prices due to expanded product offerings and production capacity, plus a possible $7,500 incentive. TSLA can provide an excellent return from the covered call premium even if the stock does not move much.</p><h2>Tesla</h2><p>Global deliveries in 2021 were a little over 936,000 units. The 2021 breakdown of Tesla's total revenues by country were U.S. (44.5%), China (25.7%), and Other (29.8%). Tesla has ambitious growth plans, but the output may be restricted by global semiconductor shortages and supply chain issues, at least in the near term.</p><p>Its stores do not carry extensive inventories, and many customers choose to customize their vehicles. Tesla has four reportable segments: Automotive sales (84.7% of total 2021 revenues), Automotive Leasing (3.1%), Services & Other (7.1%), and Energy Generation & Storage (5.2%).</p><p>TSLA has annual sales of $74.8B with 99.3K employees. They are 44.7% owned by institutions, with 3.0% short interest. Their return on equity is 28.1%, and they have a 25.0% return on invested capital. The free cash flow yield per share is 1.6%, and their buyback yield per share is 0.0%. Their Piotroski F-score is eight, indicating strength. They have a price-to-book ratio of 12.5.</p><h2>Potential Positive Impacts For 2023</h2><ol><li>Tesla is expanding their product offerings. The first deliveries of the Semi were achieved on December 1, 2022, which should be followed by the Cybertruck (late 2023), Roadster, and Optimus robot. The Cybertruck is believed to have reservations of more than 1.5 million. Eventually, Tesla will roll out more affordable sedans and SUV platforms in the coming years.</li><li>Tesla recently opened new plants in Texas and Germany.</li><li>TSLA is a big winner from the Inflation Reduction Act, as most versions of the industry's two best-selling EVs (the Model Y and Model 3) will probably become eligible for the $7,500 federal EV tax credit, effective January 1, 2023.</li><li>Tesla continually plans to reduce battery costs and boost vehicle range.</li><li>China will reopen eventually.</li><li>Gas prices are higher.</li><li>Tesla has virtually no debt and continues to spend little to nothing on advertising.</li></ol><h2>Potential Negative Impacts For 2023</h2><ol><li>Big automakers are introducing more and more EV vehicles at lower prices.</li><li>A recession may temporarily reduce sales.</li><li>Higher interest rates may temporarily reduce sales.</li><li>Global semiconductor shortages and supply chain issues are improving, but the output may still be restricted.</li><li>Elon Musk has sold over $23 billion in stock this year, presumably to fund Twitter, and he may sell more shares. (The Twitter impact on Tesla will probably fade, especially if a Twitter CEO is announced.)</li><li>TSLA stock ownership is about 44% institutions, 16% insiders, and 40% retail investors, any of whom may not hold shares waiting for a rebound.</li><li>Higher raw material, logistics, labor, and warranty costs may continue to be a headwind.</li></ol><h2>Q3 Quarterly Results</h2><p>TSLA announced record Q3 earnings in their October 19th press release.</p><ul><li>Production of 365K vehicles</li><li>Delivery of 343K vehicles</li><li>Operating cash flow less Capex (free cash flow) was $3.3B</li><li>Cash and marketable securities increased by $2.2B to $21.1B</li><li>Operating margin was 17.2%</li><li>Revenue grew 56% vs. last year</li></ul><p>Musk mentioned the following about growth on the conference call.</p><blockquote>Actually, one caveat, I should say, is growing production by 50% every year because of deliveries -- we're trying to smooth out the deliveries and not have this crazy delivery rate at the end of every quarter, so. In fact, we're just fundamentally running out of -- there weren't enough boats, there weren't enough trains, there weren't enough car carriers to actually support the wave because it got too big. So, whether we like it or not, we actually have to smooth out the delivery of cars intra-quarter because there aren't just enough transportation objects to move them around.</blockquote><p>Musk responded to questions about the product.</p><blockquote>So, we'll be handing over our first production Tesla Semis to Pepsi on December 1. I'll be there in person.</blockquote><blockquote>Yes, exactly; very important, no sacrifice to cargo capacity, 500-mile range. To be clear, 500 miles with the cargo. Yes, 500 miles with the cargo on level ground. Yes, sure. Not up. It's excellent. But the point is, it's a long-range truck and even with heavy cargo. And the number of times people tell, no, you can't -- it's impossible to make a long-range heavy-duty Class A truck. And then, I'll ask, well, what are your assumptions about what hour kilogram and what hours per mile, and they look at me with a blank stare and then say hydrogen. I'm like, no, that's not the answer; I was looking for numbers, literally. It's not a number. It's [indiscernible] table. You obviously don't need hydrogen for heavy trucks.</blockquote><blockquote>And we'll be ramping up Semi production through next year. As I think everyone knows at this point, it takes about a year to ramp up production. So, we expect to see significant -- we're tentatively aiming for 50,000 units in 2024 for Tesla Semi in North America. And obviously, we'll expand beyond North America. And these would sell -- I don't want to say the exact prices, but they're much more than a passenger vehicle. So, with a few thousand heavy trucks of this nature, it would be worth several Model Ys.</blockquote><p>The 50,000-unit forecast for 2024 seems too aggressive. I suspect TSLA will trade above $160.00 in the next year or two, even if the truck forecast is too aggressive.</p><h2>Good Technical Entry Point</h2><p>The share price of TSLA traded at $158.00 on December 15th. I've added the green Fibonacci lines, using the high and low of the past five years for TSLA. It's interesting to note how the market pauses or bounces off these Fibonacci lines. They can be one clue as to where the stock price may be headed. TSLA is slightly below the 38.2% Fibonacci retracement level but could go lower. However, I believe that TSLA will trade above $160.00 by June for the reasons in this article.</p><p></p><p><img src=\"https://static.tigerbbs.com/d4d74a16eaf31e58b529a1b8c50655de\" tg-width=\"640\" tg-height=\"306\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Schwab StreetSmart Edge</p><p>The fifteen most accurate analysts have an average one-year price target of $288.43, indicating an 82.5% potential upside from the December 15th trading price of $158.00 if they are correct. Their ratings are ten buys, four holds, and one sell. Analysts are just one of my indicators, and they are not perfect, but they are usually in the ballpark with estimates or at least headed in the right direction. They often seem a bit optimistic, so I suspect prices may end up lower than their one-year targets to be on the safe side.</p><h2>Trends In Earnings Per Share, P/E Ratio, And Operating Margin</h2><p>The black line shows TSLA's stock price for the past twelve years. Look at the chart of numbers below the graph to see that TSLA adjusted earnings were $0.00 in 2019, $0.75 in 2020, and $2.26 in 2021. They are projected to earn $4.10 in 2022, $5.75 in 2023, and $6.91 in 2024.</p><p>The P/E ratio for TSLA is currently very high. If TSLA earns $6.91 in 2024, the stock could trade at $160.00 if the market assigns a 23.1 P/E ratio. Tesla's growth rate is so strong that it would not surprise me to see TSLA trading above $160.00 a year or two from now.</p><p><img src=\"https://static.tigerbbs.com/4d13a6319189ad952ac60082b701f502\" tg-width=\"640\" tg-height=\"335\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>FastGraphs.com</p><p>TSLA's operating margin has been increasing for the past five years.</p><p><img src=\"https://static.seekingalpha.com/uploads/2022/12/15/737809-167112985977127.png\" tg-width=\"640\" tg-height=\"300\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>StockRover.com</p><p>The stock price has not yet caught up with the increasing sales and EPS.</p><p><img src=\"https://static.tigerbbs.com/c5e35f969fef71b655da5962d71daf93\" tg-width=\"640\" tg-height=\"293\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>StockRover.com</p><h2><b>Sell Covered Calls</b></h2><p>My answer to uncertainty is to sell covered calls on TSLA six months out. TSLA traded at $158.00 on December 15th, and June's $160.00 covered calls are at or near $28.60. One covered call requires 100 shares of stock to be purchased. The stock will be called away if it trades above $160.00 on June 16th. It may even be called away sooner if the price exceeds $160.00, but that's fine since capital is returned sooner.</p><p>The investor can earn $2,860 from call premium and $200 from stock price appreciation. This totals $3,060 in estimated profit on a $15,800 investment, which is a 38.6% annualized return since the period is 183 days.</p><p>If the stock is below $160.00 on June 16th, investors will still make a profit on this trade down to the net stock price of $129.40. Selling covered calls reduces your risk.</p><h2>Takeaway</h2><p>TSLA should see higher stock prices due to expanded product offerings and production capacity, plus a possible $7,500 incentive. Even if TSLA's stock price only moves from $158.00 to $160.00 by June 16th, a 38.6% potential annualized return is possible, including the covered call premium.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: Potential 38.6% Annualized Return</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: Potential 38.6% Annualized Return\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-17 11:49 GMT+8 <a href=https://seekingalpha.com/article/4564906-tesla-potential-38-6-percent-annualized-return><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla is expanding their product offerings.There are numerous potential positive and negative impacts for 2023.The Inflation Reduction Act may provide a $7,500 incentive on some vehicles ...</p>\n\n<a href=\"https://seekingalpha.com/article/4564906-tesla-potential-38-6-percent-annualized-return\">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://seekingalpha.com/article/4564906-tesla-potential-38-6-percent-annualized-return","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2292004292","content_text":"SummaryTesla is expanding their product offerings.There are numerous potential positive and negative impacts for 2023.The Inflation Reduction Act may provide a $7,500 incentive on some vehicles beginning on 1/1/23.Investment ThesisTesla (NASDAQ:TSLA) should see higher stock prices due to expanded product offerings and production capacity, plus a possible $7,500 incentive. TSLA can provide an excellent return from the covered call premium even if the stock does not move much.TeslaGlobal deliveries in 2021 were a little over 936,000 units. The 2021 breakdown of Tesla's total revenues by country were U.S. (44.5%), China (25.7%), and Other (29.8%). Tesla has ambitious growth plans, but the output may be restricted by global semiconductor shortages and supply chain issues, at least in the near term.Its stores do not carry extensive inventories, and many customers choose to customize their vehicles. Tesla has four reportable segments: Automotive sales (84.7% of total 2021 revenues), Automotive Leasing (3.1%), Services & Other (7.1%), and Energy Generation & Storage (5.2%).TSLA has annual sales of $74.8B with 99.3K employees. They are 44.7% owned by institutions, with 3.0% short interest. Their return on equity is 28.1%, and they have a 25.0% return on invested capital. The free cash flow yield per share is 1.6%, and their buyback yield per share is 0.0%. Their Piotroski F-score is eight, indicating strength. They have a price-to-book ratio of 12.5.Potential Positive Impacts For 2023Tesla is expanding their product offerings. The first deliveries of the Semi were achieved on December 1, 2022, which should be followed by the Cybertruck (late 2023), Roadster, and Optimus robot. The Cybertruck is believed to have reservations of more than 1.5 million. Eventually, Tesla will roll out more affordable sedans and SUV platforms in the coming years.Tesla recently opened new plants in Texas and Germany.TSLA is a big winner from the Inflation Reduction Act, as most versions of the industry's two best-selling EVs (the Model Y and Model 3) will probably become eligible for the $7,500 federal EV tax credit, effective January 1, 2023.Tesla continually plans to reduce battery costs and boost vehicle range.China will reopen eventually.Gas prices are higher.Tesla has virtually no debt and continues to spend little to nothing on advertising.Potential Negative Impacts For 2023Big automakers are introducing more and more EV vehicles at lower prices.A recession may temporarily reduce sales.Higher interest rates may temporarily reduce sales.Global semiconductor shortages and supply chain issues are improving, but the output may still be restricted.Elon Musk has sold over $23 billion in stock this year, presumably to fund Twitter, and he may sell more shares. (The Twitter impact on Tesla will probably fade, especially if a Twitter CEO is announced.)TSLA stock ownership is about 44% institutions, 16% insiders, and 40% retail investors, any of whom may not hold shares waiting for a rebound.Higher raw material, logistics, labor, and warranty costs may continue to be a headwind.Q3 Quarterly ResultsTSLA announced record Q3 earnings in their October 19th press release.Production of 365K vehiclesDelivery of 343K vehiclesOperating cash flow less Capex (free cash flow) was $3.3BCash and marketable securities increased by $2.2B to $21.1BOperating margin was 17.2%Revenue grew 56% vs. last yearMusk mentioned the following about growth on the conference call.Actually, one caveat, I should say, is growing production by 50% every year because of deliveries -- we're trying to smooth out the deliveries and not have this crazy delivery rate at the end of every quarter, so. In fact, we're just fundamentally running out of -- there weren't enough boats, there weren't enough trains, there weren't enough car carriers to actually support the wave because it got too big. So, whether we like it or not, we actually have to smooth out the delivery of cars intra-quarter because there aren't just enough transportation objects to move them around.Musk responded to questions about the product.So, we'll be handing over our first production Tesla Semis to Pepsi on December 1. I'll be there in person.Yes, exactly; very important, no sacrifice to cargo capacity, 500-mile range. To be clear, 500 miles with the cargo. Yes, 500 miles with the cargo on level ground. Yes, sure. Not up. It's excellent. But the point is, it's a long-range truck and even with heavy cargo. And the number of times people tell, no, you can't -- it's impossible to make a long-range heavy-duty Class A truck. And then, I'll ask, well, what are your assumptions about what hour kilogram and what hours per mile, and they look at me with a blank stare and then say hydrogen. I'm like, no, that's not the answer; I was looking for numbers, literally. It's not a number. It's [indiscernible] table. You obviously don't need hydrogen for heavy trucks.And we'll be ramping up Semi production through next year. As I think everyone knows at this point, it takes about a year to ramp up production. So, we expect to see significant -- we're tentatively aiming for 50,000 units in 2024 for Tesla Semi in North America. And obviously, we'll expand beyond North America. And these would sell -- I don't want to say the exact prices, but they're much more than a passenger vehicle. So, with a few thousand heavy trucks of this nature, it would be worth several Model Ys.The 50,000-unit forecast for 2024 seems too aggressive. I suspect TSLA will trade above $160.00 in the next year or two, even if the truck forecast is too aggressive.Good Technical Entry PointThe share price of TSLA traded at $158.00 on December 15th. I've added the green Fibonacci lines, using the high and low of the past five years for TSLA. It's interesting to note how the market pauses or bounces off these Fibonacci lines. They can be one clue as to where the stock price may be headed. TSLA is slightly below the 38.2% Fibonacci retracement level but could go lower. However, I believe that TSLA will trade above $160.00 by June for the reasons in this article.Schwab StreetSmart EdgeThe fifteen most accurate analysts have an average one-year price target of $288.43, indicating an 82.5% potential upside from the December 15th trading price of $158.00 if they are correct. Their ratings are ten buys, four holds, and one sell. Analysts are just one of my indicators, and they are not perfect, but they are usually in the ballpark with estimates or at least headed in the right direction. They often seem a bit optimistic, so I suspect prices may end up lower than their one-year targets to be on the safe side.Trends In Earnings Per Share, P/E Ratio, And Operating MarginThe black line shows TSLA's stock price for the past twelve years. Look at the chart of numbers below the graph to see that TSLA adjusted earnings were $0.00 in 2019, $0.75 in 2020, and $2.26 in 2021. They are projected to earn $4.10 in 2022, $5.75 in 2023, and $6.91 in 2024.The P/E ratio for TSLA is currently very high. If TSLA earns $6.91 in 2024, the stock could trade at $160.00 if the market assigns a 23.1 P/E ratio. Tesla's growth rate is so strong that it would not surprise me to see TSLA trading above $160.00 a year or two from now.FastGraphs.comTSLA's operating margin has been increasing for the past five years.StockRover.comThe stock price has not yet caught up with the increasing sales and EPS.StockRover.comSell Covered CallsMy answer to uncertainty is to sell covered calls on TSLA six months out. TSLA traded at $158.00 on December 15th, and June's $160.00 covered calls are at or near $28.60. One covered call requires 100 shares of stock to be purchased. The stock will be called away if it trades above $160.00 on June 16th. It may even be called away sooner if the price exceeds $160.00, but that's fine since capital is returned sooner.The investor can earn $2,860 from call premium and $200 from stock price appreciation. This totals $3,060 in estimated profit on a $15,800 investment, which is a 38.6% annualized return since the period is 183 days.If the stock is below $160.00 on June 16th, investors will still make a profit on this trade down to the net stock price of $129.40. Selling covered calls reduces your risk.TakeawayTSLA should see higher stock prices due to expanded product offerings and production capacity, plus a possible $7,500 incentive. Even if TSLA's stock price only moves from $158.00 to $160.00 by June 16th, a 38.6% potential annualized return is possible, including the covered call premium.","news_type":1},"isVote":1,"tweetType":1,"viewCount":110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9928391306,"gmtCreate":1671187276905,"gmtModify":1676538505780,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9928391306","repostId":"2291068747","repostType":4,"repost":{"id":"2291068747","pubTimestamp":1671173987,"share":"https://www.laohu8.com/m/news/2291068747?lang=&edition=full","pubTime":"2022-12-16 14:59","market":"us","language":"en","title":"With A Forward P/E Of 28, Is Tesla Now A Value Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=2291068747","media":"Seeking Alpha","summary":"SummaryDown ~60% YTD, Tesla now trades at 39x this year's earnings and 28x next year.Most would agre","content":"<html><head></head><body><h2>Summary</h2><ul><li>Down ~60% YTD, Tesla now trades at 39x this year's earnings and 28x next year.</li><li>Most would agree the decline is not just macro, as the Twitter distraction and Musk's political statements are weighing heavily on the price.</li><li>Regardless of controversy, today's valuation is cheaper than the Covid lows, based on sales multiple and P/E. If you missed the boat and want in, now might be your chance.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1e3fd66a8e0832eaf756523b866b2b36\" tg-width=\"750\" tg-height=\"555\" referrerpolicy=\"no-referrer\"/><span>Joe Raedle</span></p><p>Not looking the best. That sums up the above pic of Elon, as well as the perception of the Tesla (NASDAQ:TSLA) brand right now. For better or worse, the two go hand in hand.</p><p>On Tuesday, Mark Fields – the former CEO of Ford (F) – was interviewed on CNBC and asked about Musk's behavior.</p><blockquote>As a CEO he is so associated with that brand, that the positions he's taking on social and political things, on balance that's a net negative for a company. I mean when I was running Ford, or any CEO today, you have to pick and choose what either social or political issues you dive into, and they have to be very tied to your values as a company. And maybe it's one, maybe it's twice a year, but no more than that.</blockquote><p>Hmm, it's hard to fathom how this Tweet about his pronouns and Fauci are very tied to the company.</p><p>But at the same time, that's what differentiates Musk from Fields and almost every other current and former automotive CEO. Like it or not, Musk's larger than life personality is why Tesla hasn't had to advertise.</p><p>Due to Seeking Alpha's political comment rules, I will not be discussing Musk's latest opinions here but will say this; if he dials it back, once again his personality will be used for positive benefit.</p><h2>Twitter and Musk rants aside, are things that bad?</h2><p>This too shall pass. It's one of the few adages which is always true. One way or another, these distractions will be in the rearview mirror. Once they are, the focus will be back on the company. I always like bad news first, so let's summarize the negatives in the headlines right now:</p><ul><li>Supply chain normalization and higher interest rates means that both new and used car demand is going down here in the US. We see this in the CPI prints each month.</li><li>Zero Covid policies, weak macro, and increasing competition from local competitors like NIO (NIO), XPeng (XPEV), and Li Auto (LI) means they are facing headwinds in a very important market. Furthermore, EV subsidies go away at the end of this year.</li><li>Here in the US, in most cases, you need to take possession of your new Tesla in 2023 to qualify for the new $7,500 tax credit. In turn, this actually has discouraged people from taking possession in Q4 of this year.</li></ul><p>To counteract that last thing, Tesla has been doing something they're not known for... discounting.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bd59da6916e1225ac6f4963095411334\" tg-width=\"640\" tg-height=\"388\" referrerpolicy=\"no-referrer\"/><span>Tesla.com</span></p><p>Speaking of inventory, the days of waiting months for a Tesla are over. In that interview Fields did, he discussed browsing Tesla's inventory and finding availability for most models and being able to get delivery within days. I experienced the same. To be clear though, custom orders still have a 60+ day lead time.</p><p>The bearish side to that would be sales are slow. The bullish would be that supply chains are now under control, so excessive wait times are over.</p><p>Goldman Sachs (GS) is now predicting 420k deliveries in the 4th quarter, revised down from 440k. For 2023, they're saying 1.85M deliveries vs. 1.95M prior estimate. This is not the 50-100% YOY of past years but should still be north of 30%. Legacy automakers aren't doing that.</p><h2>Tesla vs. automakers</h2><p>Upfront let me be clear that Tesla is not cheap if you are valuing it as only being an automaker. Not even remotely close to cheap.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e30a0ab631e642db8e411e1e690283ae\" tg-width=\"635\" tg-height=\"569\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p>An earnings multiple in the mid to high single-digits is the norm for that group, at least ever since the Great Financial Crisis. Sometimes they hit a double-digit PE but it's something like 10-13x, which is still 1/4th that of Tesla's multiple right now.</p><p>Then again, most automakers are burdened with tons of debt, pension obligations, and the mess of transitioning from ICE to EV manufacturing. Tesla isn't. The margins demonstrate this:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/caa7161629370bf9ebbc163af7cf1862\" tg-width=\"635\" tg-height=\"484\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p>The bearish rebuttal is that Tesla only has fat margins because of EV tax credits. You see since Tesla is all EV, they get them for free and can sell them to other automakers who can't fulfill regulatory requirements, because they have to offset ICE production.</p><p>Well whether we like it or not, this taxpayer-funded green scheme is just how the system works. You know what they say, if you can't beat 'em, join 'em. Rather than rant about this, you could reap the benefits by being a shareholder.</p><h2>Valuing Tesla as something else</h2><p>The primary bearish thesis for Tesla has always been that it is an automaker and should be valued as such. In earlier years, financial solvency was also an issue, but the bears know that today they have a solid balance sheet.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5886862e4dcd8d60a6b272b8f62b93d5\" tg-width=\"635\" tg-height=\"484\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p>When you factor in the debt and consider enterprise value (rather than share price) to earnings, you realize Tesla is valued at least slightly closer to its peers than their PE values alone would suggest.</p><p>The bears are 100% right in that today, yes, the vast majority of Tesla's revenue comes from product sales. No, I don't mean solar roofs or backup batteries for your home. Rather, it's almost entirely the sale of vehicles. FSD revenue is minimal in comparison. So yes, based on sales, Tesla is correctly categorized as being an automaker.</p><p>But what if it is something else? What if the future revenue mix really does mean that auto sales are only one piece of the pie?</p><p>The opinions on FSD and potential future revenue from it is covered ad nauseum so I won't do the same here. Nor will I pretend to know, unlike many others who make projections.</p><p>Furthermore, I will not try and value Optimus (Tesla Bot), boats, planes, and other things which might come to fruition. I mean if we go down that road for any company, sure we can come up with wildly optimistic projections.</p><p>Nor will I give Elon Musk credit for his promises. I mean let's be blunt here, he's the master of overpromising and underdelivering. At least when it comes to timeframes. However once he does deliver, albeit very late, the results are often impressive.</p><p>For those reasons, I don't know what the future holds for the company. What I do know though is that as a value investor, the stock is finally looking interesting. It has grown to become a company with real revenue and earnings that one can derive a valuation from.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/112e3aa61d623a07ad66354191c4c3ee\" tg-width=\"635\" tg-height=\"467\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/37b70ccd4a4006e3b7416b0bceaa2580\" tg-width=\"640\" tg-height=\"259\" referrerpolicy=\"no-referrer\"/><span>Consensus earnings estimates (Seeking Alpha)</span></p><p>Tesla's other bets are not being valued as wildly and as such, I don't mind paying some premium knowing that given the mad genius of Musk, they will probably impress us, eventually.</p><p>This article is written by Michael Dolen for reference only. Please note the risks.</p></body></html>","source":"seekingalpha_fund","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>With A Forward P/E Of 28, Is Tesla Now A Value Stock?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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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\">\nWith A Forward P/E Of 28, Is Tesla Now A Value Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-16 14:59 GMT+8 <a href=https://seekingalpha.com/article/4564646-with-a-forward-pe-of-28-is-tesla-now-a-value-stock><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryDown ~60% YTD, Tesla now trades at 39x this year's earnings and 28x next year.Most would agree the decline is not just macro, as the Twitter distraction and Musk's political statements are ...</p>\n\n<a href=\"https://seekingalpha.com/article/4564646-with-a-forward-pe-of-28-is-tesla-now-a-value-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4099":"汽车制造商","BK4511":"特斯拉概念","BK4202":"服装、服饰与奢侈品","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4548":"巴美列捷福持仓","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4555":"新能源车","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0053666078.USD":"摩根大通基金-美国股票A(离岸)美元","LU0823411888.USD":"法巴消费创新基金 Cap","LU0082616367.USD":"摩根大通美国科技A(dist)","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0056508442.USD":"贝莱德世界科技基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4527":"明星科技股","BK4550":"红杉资本持仓","TSLA":"特斯拉","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4574":"无人驾驶","BK4551":"寇图资本持仓","LU2063271972.USD":"富兰克林创新领域基金","BK4581":"高盛持仓"},"source_url":"https://seekingalpha.com/article/4564646-with-a-forward-pe-of-28-is-tesla-now-a-value-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2291068747","content_text":"SummaryDown ~60% YTD, Tesla now trades at 39x this year's earnings and 28x next year.Most would agree the decline is not just macro, as the Twitter distraction and Musk's political statements are weighing heavily on the price.Regardless of controversy, today's valuation is cheaper than the Covid lows, based on sales multiple and P/E. If you missed the boat and want in, now might be your chance.Joe RaedleNot looking the best. That sums up the above pic of Elon, as well as the perception of the Tesla (NASDAQ:TSLA) brand right now. For better or worse, the two go hand in hand.On Tuesday, Mark Fields – the former CEO of Ford (F) – was interviewed on CNBC and asked about Musk's behavior.As a CEO he is so associated with that brand, that the positions he's taking on social and political things, on balance that's a net negative for a company. I mean when I was running Ford, or any CEO today, you have to pick and choose what either social or political issues you dive into, and they have to be very tied to your values as a company. And maybe it's one, maybe it's twice a year, but no more than that.Hmm, it's hard to fathom how this Tweet about his pronouns and Fauci are very tied to the company.But at the same time, that's what differentiates Musk from Fields and almost every other current and former automotive CEO. Like it or not, Musk's larger than life personality is why Tesla hasn't had to advertise.Due to Seeking Alpha's political comment rules, I will not be discussing Musk's latest opinions here but will say this; if he dials it back, once again his personality will be used for positive benefit.Twitter and Musk rants aside, are things that bad?This too shall pass. It's one of the few adages which is always true. One way or another, these distractions will be in the rearview mirror. Once they are, the focus will be back on the company. I always like bad news first, so let's summarize the negatives in the headlines right now:Supply chain normalization and higher interest rates means that both new and used car demand is going down here in the US. We see this in the CPI prints each month.Zero Covid policies, weak macro, and increasing competition from local competitors like NIO (NIO), XPeng (XPEV), and Li Auto (LI) means they are facing headwinds in a very important market. Furthermore, EV subsidies go away at the end of this year.Here in the US, in most cases, you need to take possession of your new Tesla in 2023 to qualify for the new $7,500 tax credit. In turn, this actually has discouraged people from taking possession in Q4 of this year.To counteract that last thing, Tesla has been doing something they're not known for... discounting.Tesla.comSpeaking of inventory, the days of waiting months for a Tesla are over. In that interview Fields did, he discussed browsing Tesla's inventory and finding availability for most models and being able to get delivery within days. I experienced the same. To be clear though, custom orders still have a 60+ day lead time.The bearish side to that would be sales are slow. The bullish would be that supply chains are now under control, so excessive wait times are over.Goldman Sachs (GS) is now predicting 420k deliveries in the 4th quarter, revised down from 440k. For 2023, they're saying 1.85M deliveries vs. 1.95M prior estimate. This is not the 50-100% YOY of past years but should still be north of 30%. Legacy automakers aren't doing that.Tesla vs. automakersUpfront let me be clear that Tesla is not cheap if you are valuing it as only being an automaker. Not even remotely close to cheap.Data by YChartsAn earnings multiple in the mid to high single-digits is the norm for that group, at least ever since the Great Financial Crisis. Sometimes they hit a double-digit PE but it's something like 10-13x, which is still 1/4th that of Tesla's multiple right now.Then again, most automakers are burdened with tons of debt, pension obligations, and the mess of transitioning from ICE to EV manufacturing. Tesla isn't. The margins demonstrate this:Data by YChartsThe bearish rebuttal is that Tesla only has fat margins because of EV tax credits. You see since Tesla is all EV, they get them for free and can sell them to other automakers who can't fulfill regulatory requirements, because they have to offset ICE production.Well whether we like it or not, this taxpayer-funded green scheme is just how the system works. You know what they say, if you can't beat 'em, join 'em. Rather than rant about this, you could reap the benefits by being a shareholder.Valuing Tesla as something elseThe primary bearish thesis for Tesla has always been that it is an automaker and should be valued as such. In earlier years, financial solvency was also an issue, but the bears know that today they have a solid balance sheet.Data by YChartsWhen you factor in the debt and consider enterprise value (rather than share price) to earnings, you realize Tesla is valued at least slightly closer to its peers than their PE values alone would suggest.The bears are 100% right in that today, yes, the vast majority of Tesla's revenue comes from product sales. No, I don't mean solar roofs or backup batteries for your home. Rather, it's almost entirely the sale of vehicles. FSD revenue is minimal in comparison. So yes, based on sales, Tesla is correctly categorized as being an automaker.But what if it is something else? What if the future revenue mix really does mean that auto sales are only one piece of the pie?The opinions on FSD and potential future revenue from it is covered ad nauseum so I won't do the same here. Nor will I pretend to know, unlike many others who make projections.Furthermore, I will not try and value Optimus (Tesla Bot), boats, planes, and other things which might come to fruition. I mean if we go down that road for any company, sure we can come up with wildly optimistic projections.Nor will I give Elon Musk credit for his promises. I mean let's be blunt here, he's the master of overpromising and underdelivering. At least when it comes to timeframes. However once he does deliver, albeit very late, the results are often impressive.For those reasons, I don't know what the future holds for the company. What I do know though is that as a value investor, the stock is finally looking interesting. It has grown to become a company with real revenue and earnings that one can derive a valuation from.Data by YChartsConsensus earnings estimates (Seeking Alpha)Tesla's other bets are not being valued as wildly and as such, I don't mind paying some premium knowing that given the mad genius of Musk, they will probably impress us, eventually.This article is written by Michael Dolen for reference only. Please note the risks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9921662159,"gmtCreate":1671056461071,"gmtModify":1676538481558,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9921662159","repostId":"1129015795","repostType":4,"repost":{"id":"1129015795","pubTimestamp":1671018593,"share":"https://www.laohu8.com/m/news/1129015795?lang=&edition=full","pubTime":"2022-12-14 19:49","market":"us","language":"en","title":"In 60 Seconds Before CPI Hit, Heavy Trading Drove Mystery Rally","url":"https://stock-news.laohu8.com/highlight/detail?id=1129015795","media":"Bloomberg","summary":"Stocks, bonds jumped just ahead of key inflation reportWhite House says it’s unaware of any early re","content":"<html><head></head><body><ul><li>Stocks, bonds jumped just ahead of key inflation report</li><li>White House says it’s unaware of any early release of data</li></ul><p>Karine Jean-Pierre, the press secretary for President Joe Biden, quickly brushed off the question when it came in toward the end of her daily press conference Tuesday. No, she said, there was no chance that anyone in the White House leaked the November inflation report before its 8:30 a.m. publication. Too much fuss was being made, as she saw it, over what were just “minor market movements.”</p><p>But there was nothing minor about the rally that took hold in the seconds before the better-than-expected inflation number hit the Labor Department’s website.</p><p>Stock futures suddenly spiked more than 1%. Trading in Treasury futures surged, pushing benchmark yields lower by about 4 basis points. Those are major moves in such a short period of time — bigger than full-session swings on some days. And they should get scrutinized by regulators, long-time market observers say, even if a leak is only one of several possible explanations for why traders suddenly started buying right before the report was published.</p><p>Significant “trading activity ahead of market-changing news is suspicious and typically worthy of regulatory agencies making appropriate inquiries,” saidJerome Selvers, chair of the securities regulatory enforcement & litigation practice at Pashman Stein Walder Hayden. “This is unusual, especially given the reduction in inflation that was reported, which was well in excess of what markets anticipated,” he said. “Someone will likely look into it, whether it’s innocent or not.”</p><p><img src=\"https://static.tigerbbs.com/d0596e49163f1b47291ba36eaceda5d9\" tg-width=\"620\" tg-height=\"348\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Of course, if and when such an investigation occurs remains to be seen. For its part, theUS Bureau of Labor Statisticssaid it’s unaware of any early release of its data.</p><p>Still, over a 60-second span before the data went out, over 13,000 March 10-year futures traded hands (during a period when activity is usually nonexistent) as the contract was bid up. Stocks and bonds rallied further immediately after publication of the data, as investors speculated thatcoolinginflation meant theFederal Reservewould pause its tightening cycle early next year.</p><p>BLS spokesperson Cody Parkinson said by email that while the agency is not aware of any early release, some government officials do routinely receive the data before publication under federal guidelines.</p><p>Excluding food and energy, the CPI rose 0.2% in November and was up 6% from a year earlier. The median estimate in a Bloomberg survey of economists called for a 0.3% monthly increase.</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>In 60 Seconds Before CPI Hit, Heavy Trading Drove Mystery Rally</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\">\nIn 60 Seconds Before CPI Hit, Heavy Trading Drove Mystery Rally\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-14 19:49 GMT+8 <a href=https://www.bloomberg.com/news/articles/2022-12-14/in-60-seconds-before-cpi-hit-heavy-trading-drove-mystery-rally><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stocks, bonds jumped just ahead of key inflation reportWhite House says it’s unaware of any early release of dataKarine Jean-Pierre, the press secretary for President Joe Biden, quickly brushed off ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-12-14/in-60-seconds-before-cpi-hit-heavy-trading-drove-mystery-rally\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2022-12-14/in-60-seconds-before-cpi-hit-heavy-trading-drove-mystery-rally","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129015795","content_text":"Stocks, bonds jumped just ahead of key inflation reportWhite House says it’s unaware of any early release of dataKarine Jean-Pierre, the press secretary for President Joe Biden, quickly brushed off the question when it came in toward the end of her daily press conference Tuesday. No, she said, there was no chance that anyone in the White House leaked the November inflation report before its 8:30 a.m. publication. Too much fuss was being made, as she saw it, over what were just “minor market movements.”But there was nothing minor about the rally that took hold in the seconds before the better-than-expected inflation number hit the Labor Department’s website.Stock futures suddenly spiked more than 1%. Trading in Treasury futures surged, pushing benchmark yields lower by about 4 basis points. Those are major moves in such a short period of time — bigger than full-session swings on some days. And they should get scrutinized by regulators, long-time market observers say, even if a leak is only one of several possible explanations for why traders suddenly started buying right before the report was published.Significant “trading activity ahead of market-changing news is suspicious and typically worthy of regulatory agencies making appropriate inquiries,” saidJerome Selvers, chair of the securities regulatory enforcement & litigation practice at Pashman Stein Walder Hayden. “This is unusual, especially given the reduction in inflation that was reported, which was well in excess of what markets anticipated,” he said. “Someone will likely look into it, whether it’s innocent or not.”Of course, if and when such an investigation occurs remains to be seen. For its part, theUS Bureau of Labor Statisticssaid it’s unaware of any early release of its data.Still, over a 60-second span before the data went out, over 13,000 March 10-year futures traded hands (during a period when activity is usually nonexistent) as the contract was bid up. Stocks and bonds rallied further immediately after publication of the data, as investors speculated thatcoolinginflation meant theFederal Reservewould pause its tightening cycle early next year.BLS spokesperson Cody Parkinson said by email that while the agency is not aware of any early release, some government officials do routinely receive the data before publication under federal guidelines.Excluding food and energy, the CPI rose 0.2% in November and was up 6% from a year earlier. The median estimate in a Bloomberg survey of economists called for a 0.3% monthly increase.","news_type":1},"isVote":1,"tweetType":1,"viewCount":62,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9921168132,"gmtCreate":1670999288126,"gmtModify":1676538473864,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9921168132","repostId":"1139883493","repostType":4,"repost":{"id":"1139883493","pubTimestamp":1670980450,"share":"https://www.laohu8.com/m/news/1139883493?lang=&edition=full","pubTime":"2022-12-14 09:14","market":"us","language":"en","title":"Fed to Downshift to Half-Point Hike But Point to Higher Peak","url":"https://stock-news.laohu8.com/highlight/detail?id=1139883493","media":"Bloomberg","summary":"Fed officials are expected to raise rates by 50 basis pointsFresh projections could shed light on ho","content":"<html><head></head><body><ul><li>Fed officials are expected to raise rates by 50 basis points</li><li>Fresh projections could shed light on how high rates may go</li></ul><p>The Federal Reserve is poised to moderate its aggressive tightening on Wednesday while signaling that interest rates will ultimately go higher than previously forecast.</p><p>The tricky part for Chair Jerome Powell will be convincing investors that this isn’t a dovish pivot and that officials won’t prematurely end their assault against inflation that’s running three times higher than their 2% goal.</p><p>The Federal Open Market Committee is widely expected to raise rates by 50 basis points and bring its benchmark target rate to a range of 4.25% to 4.5%, the highest since 2007. Fresh quarterly economic projections released after the meeting will also shed light on how much further policymakers expect rates to go.</p><p>Economists surveyed by Bloomberg see that median estimate peaking at 4.9% after Powell said they will need to lift rates higher than previously anticipated. That implies the FOMC stepping down to 25 basis-point moves in February and March and then putting policy on pause. Investors see things the same way, according to current pricing in interest-rate futures markets.</p><p>The decision, as well as the forecasts, will be announced at 2 p.m. in Washington. Powell will hold a press conference 30 minutes later.</p><p><img src=\"https://static.tigerbbs.com/09990cf4428c3d4cf8dcde939b151e00\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"/></p><p>Consumer-price data released Tuesday suggest the worst of US inflation may have passed, making it easier for officials to downshift to a smaller rate increase this week. But Powell could use his press conference to remind the public that officials are not going to let up until inflation is clearly on a path back down to 2%.</p><p>“All eyes will be on the dot plot and the conference and what Fed Chair Powell will be telling us in terms of the path for interest rates going forward,” said Lydia Boussour, senior economist for EY Parthenon, referring to the quarterly projections for rates displayed as a chart of anonymous dots though 2025 and in the longer run.</p><h2>Future Rate Path</h2><p>At their September meeting, Fed officials saw rates reaching 4.6% by the end of next year. But policymakers say those expectations have since moved up following economic data showing that while inflation is easing, it remains stubbornly high.</p><p>Officials also say the labor market is still out of balance, with demand for workers exceeding labor supply and wage growth not letting up.</p><p>The projections will offer insight on policymakers’ latest views for where they expect rates to go. But the Fed chief is unlikely to commit to a specific path, preferring to keep his options open, said Michael Pugliese, an economist at Wells Fargo & Co.</p><p>“I think they’ll preserve flexibility,” he said.</p><h2>Conditions for Pause</h2><p>The rate projections could offer clues on how soon officials expect to pause the rate increases. For example, a more modest increase in the terminal rate may suggest that officials could stop hiking rates as soon as March, while a higher peak may suggest that rate increases could continue further into next year, said Tim Duy, chief U.S. economist for SGH Macro Advisors.</p><p>But he said it will also be important to hear from Powell about how officials will know that it’s time to pause the rate increases or if they should keep hiking.</p><p>“They’ve been edging closer to something that they think is a terminal rate and that appears to be something near 5%,” said Duy. “What conditions would sort of reinforce that?”</p><h2>‘Ongoing’ Increases?</h2><p>One key phrase to watch for in the FOMC statement is whether officials continue to say that “ongoing increases in the target range will be appropriate” to bring rates to a level that is sufficiently restrictive to reduce inflation.</p><p>Removing the word “ongoing” could send a dovish signal and suggest that the Fed is likely to pause rate increases in March, sooner than expected, according to Roberto Perli and Benson Durham of Piper Sandler & Co.</p><p>However, Fed officials could also decide to keep the “ongoing increases” wording in the statement for the remainder of the hiking cycle to avoid sending a signal that could ease financial conditions, said Derek Tang, an economist with LH Meyer.</p><p>“There’s little cost to them to keep ‘ongoing increases’ in there until the first meeting with no hike,” Tang wrote in an email note.</p><h2>Economic Pain</h2><p>The projections will also reveal what officials expect to see from the US economy in terms of growth, the unemployment rate and inflation. Forecasts showing that officials now expect it to take longer for inflation to come down to their target could help to justify their higher interest-rate projections, said James Knightley, chief international economist for ING.</p><p><img src=\"https://static.tigerbbs.com/aa9440bed9d42f2a1aea754f85ebc642\" tg-width=\"933\" tg-height=\"646\" referrerpolicy=\"no-referrer\"/></p><p>Policymakers could downgrade their outlook for next year, projecting lower economic growth that is closer to zero and a higher unemployment rate that is approaching 5%, up from the current rate of 3.7%, said EY Parthenon’s Boussour.</p><p>“I think there will be that idea coming out of the new projections that the Fed is ready to tolerate some more economic pain in order to restore price stability,” she said.</p><h2>Soft Landing Odds</h2><p>Even if officials present a base case that avoids a recession, the direction of where those indicators are headed can offer insight on how officials view recession risks, said Pugliese.</p><p>Powell could use the press conference to tell the public that officials believe there is still a path, albeit a narrower one, for a achieving a soft landing, where they succeed in bringing inflation down while minimizing the pain for households, said Knightley.</p><p>“I think the Fed will be saying, ‘well recession is a possibility, but it’s not our base case,’” he said.</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>Fed to Downshift to Half-Point Hike But Point to Higher Peak</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed to Downshift to Half-Point Hike But Point to Higher Peak\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-14 09:14 GMT+8 <a href=https://www.bloomberg.com/news/articles/2022-12-14/fed-decision-day-guide-officials-to-downshift-rate-hikes-aim-for-higher-peak><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fed officials are expected to raise rates by 50 basis pointsFresh projections could shed light on how high rates may goThe Federal Reserve is poised to moderate its aggressive tightening on Wednesday ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-12-14/fed-decision-day-guide-officials-to-downshift-rate-hikes-aim-for-higher-peak\">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/2022-12-14/fed-decision-day-guide-officials-to-downshift-rate-hikes-aim-for-higher-peak","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139883493","content_text":"Fed officials are expected to raise rates by 50 basis pointsFresh projections could shed light on how high rates may goThe Federal Reserve is poised to moderate its aggressive tightening on Wednesday while signaling that interest rates will ultimately go higher than previously forecast.The tricky part for Chair Jerome Powell will be convincing investors that this isn’t a dovish pivot and that officials won’t prematurely end their assault against inflation that’s running three times higher than their 2% goal.The Federal Open Market Committee is widely expected to raise rates by 50 basis points and bring its benchmark target rate to a range of 4.25% to 4.5%, the highest since 2007. Fresh quarterly economic projections released after the meeting will also shed light on how much further policymakers expect rates to go.Economists surveyed by Bloomberg see that median estimate peaking at 4.9% after Powell said they will need to lift rates higher than previously anticipated. That implies the FOMC stepping down to 25 basis-point moves in February and March and then putting policy on pause. Investors see things the same way, according to current pricing in interest-rate futures markets.The decision, as well as the forecasts, will be announced at 2 p.m. in Washington. Powell will hold a press conference 30 minutes later.Consumer-price data released Tuesday suggest the worst of US inflation may have passed, making it easier for officials to downshift to a smaller rate increase this week. But Powell could use his press conference to remind the public that officials are not going to let up until inflation is clearly on a path back down to 2%.“All eyes will be on the dot plot and the conference and what Fed Chair Powell will be telling us in terms of the path for interest rates going forward,” said Lydia Boussour, senior economist for EY Parthenon, referring to the quarterly projections for rates displayed as a chart of anonymous dots though 2025 and in the longer run.Future Rate PathAt their September meeting, Fed officials saw rates reaching 4.6% by the end of next year. But policymakers say those expectations have since moved up following economic data showing that while inflation is easing, it remains stubbornly high.Officials also say the labor market is still out of balance, with demand for workers exceeding labor supply and wage growth not letting up.The projections will offer insight on policymakers’ latest views for where they expect rates to go. But the Fed chief is unlikely to commit to a specific path, preferring to keep his options open, said Michael Pugliese, an economist at Wells Fargo & Co.“I think they’ll preserve flexibility,” he said.Conditions for PauseThe rate projections could offer clues on how soon officials expect to pause the rate increases. For example, a more modest increase in the terminal rate may suggest that officials could stop hiking rates as soon as March, while a higher peak may suggest that rate increases could continue further into next year, said Tim Duy, chief U.S. economist for SGH Macro Advisors.But he said it will also be important to hear from Powell about how officials will know that it’s time to pause the rate increases or if they should keep hiking.“They’ve been edging closer to something that they think is a terminal rate and that appears to be something near 5%,” said Duy. “What conditions would sort of reinforce that?”‘Ongoing’ Increases?One key phrase to watch for in the FOMC statement is whether officials continue to say that “ongoing increases in the target range will be appropriate” to bring rates to a level that is sufficiently restrictive to reduce inflation.Removing the word “ongoing” could send a dovish signal and suggest that the Fed is likely to pause rate increases in March, sooner than expected, according to Roberto Perli and Benson Durham of Piper Sandler & Co.However, Fed officials could also decide to keep the “ongoing increases” wording in the statement for the remainder of the hiking cycle to avoid sending a signal that could ease financial conditions, said Derek Tang, an economist with LH Meyer.“There’s little cost to them to keep ‘ongoing increases’ in there until the first meeting with no hike,” Tang wrote in an email note.Economic PainThe projections will also reveal what officials expect to see from the US economy in terms of growth, the unemployment rate and inflation. Forecasts showing that officials now expect it to take longer for inflation to come down to their target could help to justify their higher interest-rate projections, said James Knightley, chief international economist for ING.Policymakers could downgrade their outlook for next year, projecting lower economic growth that is closer to zero and a higher unemployment rate that is approaching 5%, up from the current rate of 3.7%, said EY Parthenon’s Boussour.“I think there will be that idea coming out of the new projections that the Fed is ready to tolerate some more economic pain in order to restore price stability,” she said.Soft Landing OddsEven if officials present a base case that avoids a recession, the direction of where those indicators are headed can offer insight on how officials view recession risks, said Pugliese.Powell could use the press conference to tell the public that officials believe there is still a path, albeit a narrower one, for a achieving a soft landing, where they succeed in bringing inflation down while minimizing the pain for households, said Knightley.“I think the Fed will be saying, ‘well recession is a possibility, but it’s not our base case,’” he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":77,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923857570,"gmtCreate":1670833899990,"gmtModify":1676538442653,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923857570","repostId":"2290724492","repostType":4,"repost":{"id":"2290724492","pubTimestamp":1670798437,"share":"https://www.laohu8.com/m/news/2290724492?lang=&edition=full","pubTime":"2022-12-12 06:40","market":"us","language":"en","title":"The Fed May Hand The Market A Huge Surprise This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2290724492","media":"Seeking Alpha","summary":"SummaryThe Fed needs to deliver a hawkish message for 2023 at the December FOMC meeting.It seems hig","content":"<html><head></head><body><h2>Summary</h2><ul><li>The Fed needs to deliver a hawkish message for 2023 at the December FOMC meeting.</li><li>It seems highly probable the Fed will signal a 5% or higher terminal rate for 2023.</li><li>If the Fed fails, it risks losing control of the market.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82d8be80a0077f14b056bfdd4db0eb8a\" tg-width=\"750\" tg-height=\"500\" width=\"100%\" height=\"auto\"/><span>Win McNamee</span></p><p>The FOMC meeting on Wednesday, December 14, will be a meaningful event as it will end the expeditious process of raising rates to catch up with inflation and shift to the next phase, focusing on how high and for how long.</p><p>Listening to Fed officials since the November FOMC meeting, it is clear that the Fed's projected path of rate hikes will be higher than where they stood at the September FOMC meeting. At that point, the Fed saw the peak terminal rate at 4.6%. Rates are likely heading much higher than what the market has priced in for 2023.</p><p>The problem is that the market doesn't believe the Fed and currently sees rates at just 4.6% by December 2023.</p><h2>Much Higher, For Much Longer</h2><p>A 50 bps rate hike at the December meeting has been well-telegraphed, and Powell confirmed as much at his Q&A session at the Brookings Institutions on November 30. At least 6 Fed governors have openly noted that they see rates peaking above 5%, and while Powell may not have indicated where he sees the terminal rate, he has stated he sees it higher than the September projection. Additionally, Fed board members like Christopher Waller have suggested that rates have a long way to go and is among the Fed's most hawkish members. Also, Loretta Mester saw the market pricing of a peak rate of around 5% as not being far off.</p><p>Jim Bullard of the St. Louis Fed thinks rates need to rise to between 5 and 7% to be restrictive enough to kill inflation. Meanwhile, Mary Daly of the San Francisco Fed sees rates at 5% as a good starting point. Raphael Bostic of the Atlanta Fed sees rates between 4.75% and 5%. Thomas Barkin of the Richmond Fed notes that rates may need to rise above 5%, while Neel Kashkari sees rates above his 4.9% September projection.</p><p>So if there were only 6 FOMC members who saw rates above 5% at the September FOMC, there are likely to be at least nine now, and probably several more at the December FOMC meeting that will signal that rates need to be in that 5 to 5.25% region for the peak terminal rate.</p><p>If more evidence is needed, this article from the Wall Street Journal followed the jobs report "suggesting" the Fed would raise rates above 5% in 2023. Then another piece came out on December 5, which again "suggested" rates going above 5% in 2023. The WSJ has often telegraphed Fed monetary policy in 2022, such as back in June ahead of the Fed's first 75 bps rate hike.</p><p>Given the messaging that rates are likely to be at least 5% and probably higher, it is highly probable the Fed will illustrate its projections through the December dot plot noting a terminal rate for 2023 at 5.1% or 50 bps higher rate than the September projection for 2023.</p><h2>The Market Doesn't Believe The Fed</h2><p>Of course, this would come at odds with the market, which currently sees the peak terminal rate around 4.9%, and then the Fed cutting rates to 4.58% by December 2023, which is <i>lower than</i>the Fed's September projections of 4.6%. The market does not believe the Fed will hold rates above 5% for all of 2023, despite Fed officials consistently delivering that message for months.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d4a665b5ca0f1dc3cdb171765f8123ac\" tg-width=\"640\" tg-height=\"312\" width=\"100%\" height=\"auto\"/><span>Mott Capital</span></p><p>It is perhaps the reasoning behind Powell's apparent change in positioning at the Brookings Institution, where he seemed to give the market a pass regarding the recent easing of financial conditions. Instead, he focused on telegraphing the pace of rate hikes slowing from 75 to 50 bps. He knew he could also push back against the easing of financial conditions two weeks later at the December FOMC through the projections indicating a higher for longer timing, which the market has been unwilling to accept.</p><h2>Financial Conditions Need To Tighten</h2><p>By any measure, financial conditions have eased a lot since mid-October. The easing financial conditions do not help the Fed's overall cause of keeping policy restrictive enough to bring down inflation.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47e20e14c2bfd67a0ee98e94ebb5ceec\" tg-width=\"640\" tg-height=\"369\" width=\"100%\" height=\"auto\"/><span>Bloomberg</span></p><p>If the Fed can deliver this message of a 5% or higher terminal rate through the end of 2023, we will find that the 2-year rate is too low, which will need to rise. Since the summer, the 2-year rate has been trading at a discount to the December Fed Funds Futures by 10 to 25 bps. So if the Fed can convince the market it sees the Fed Funds rate at 5 to 5.25% by the end of 2023, then it seems probable that the 2-year rate can trade to as high as 4.8% to 5%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab6bbea9babf2b8cc871b24fb6b423b2\" tg-width=\"640\" tg-height=\"370\" width=\"100%\" height=\"auto\"/><span>Bloomberg</span></p><p>It would likely result in the yield curve steepening further and the spread between the 2-year and the 10-year becoming more deeply inverted, as the market prices in a higher recession risk, and rates just staying higher for a longer period.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51598801716677c82df044dc4df5b629\" tg-width=\"640\" tg-height=\"274\" width=\"100%\" height=\"auto\"/><span>Bloomberg</span></p><p>It would probably help to reverse a lot of the weakening in the dollar index and potentially push the index higher and back towards 110 over time.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3cbb1e7d55a783c8cbbac5deb72b840e\" tg-width=\"640\" tg-height=\"274\" width=\"100%\" height=\"auto\"/><span>Bloomberg</span></p><p>It should also raise the VIX index as traders look to add protection again due to the increased risk of the Fed over-tightening. The VIX has already started moving higher since the Fed minutes were released just a couple of weeks ago, which also messaged a higher-for-longer approach to monetary policy in 2023.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/937f171fa291fe09bb5af70849139149\" tg-width=\"640\" tg-height=\"274\" width=\"100%\" height=\"auto\"/><span>Bloomberg</span></p><p>A strong dollar, higher rates, and higher implied volatility should tighten financial conditions. That will be a massive headwind for equity prices, resulting in stocks giving back nearly all of the gains witnessed since the October lows and potentially filling the technical gaps at 3,745 and 3,580.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/49db7e3529087186cb6b9611353a2bf9\" tg-width=\"640\" tg-height=\"284\" width=\"100%\" height=\"auto\"/><span>Bloomberg</span></p><p>Is it likely to materialize at the time of the release of the FOMC statement or the press conference? That is impossible to say because that will depend on where implied volatility levels are and whether or not implied volatility is high enough to create a short-squeeze once IV comes crashing down following the news. As of December 9, IV was relatively high, at almost 31% for December 14 options expiration, and is only likely to rise further heading to the meeting next week.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/190ead5d4738acc2bc98a96cab961e25\" tg-width=\"640\" tg-height=\"368\" width=\"100%\" height=\"auto\"/><span>Bloomberg</span></p><h2>Could Lose Control</h2><p>If the Fed fails to gain control of the narrative and prove to the market it plans to get rates to 5% and hold them there in 2023, it risks losing control of the market, resulting in financial conditions easing further as rates drop, the dollar weakens, implied volatility falls, and stocks rip higher.</p><p>Further easing of financial conditions would likely result in mortgage rates falling, lifting the housing market. Meanwhile, a weaker dollar would increase commodity prices and raise import prices, undoing much of the Fed's accomplishments in 2022.</p><p>That is why the Fed must stand firm through the dot plot and the press conference if it is serious about bringing inflation down and cooling the labor.</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>The Fed May Hand The Market A Huge Surprise This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Fed May Hand The Market A Huge Surprise This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-12 06:40 GMT+8 <a href=https://seekingalpha.com/article/4563729-fed-may-hand-market-huge-surprise-this-week><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThe Fed needs to deliver a hawkish message for 2023 at the December FOMC meeting.It seems highly probable the Fed will signal a 5% or higher terminal rate for 2023.If the Fed fails, it risks ...</p>\n\n<a href=\"https://seekingalpha.com/article/4563729-fed-may-hand-market-huge-surprise-this-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://seekingalpha.com/article/4563729-fed-may-hand-market-huge-surprise-this-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2290724492","content_text":"SummaryThe Fed needs to deliver a hawkish message for 2023 at the December FOMC meeting.It seems highly probable the Fed will signal a 5% or higher terminal rate for 2023.If the Fed fails, it risks losing control of the market.Win McNameeThe FOMC meeting on Wednesday, December 14, will be a meaningful event as it will end the expeditious process of raising rates to catch up with inflation and shift to the next phase, focusing on how high and for how long.Listening to Fed officials since the November FOMC meeting, it is clear that the Fed's projected path of rate hikes will be higher than where they stood at the September FOMC meeting. At that point, the Fed saw the peak terminal rate at 4.6%. Rates are likely heading much higher than what the market has priced in for 2023.The problem is that the market doesn't believe the Fed and currently sees rates at just 4.6% by December 2023.Much Higher, For Much LongerA 50 bps rate hike at the December meeting has been well-telegraphed, and Powell confirmed as much at his Q&A session at the Brookings Institutions on November 30. At least 6 Fed governors have openly noted that they see rates peaking above 5%, and while Powell may not have indicated where he sees the terminal rate, he has stated he sees it higher than the September projection. Additionally, Fed board members like Christopher Waller have suggested that rates have a long way to go and is among the Fed's most hawkish members. Also, Loretta Mester saw the market pricing of a peak rate of around 5% as not being far off.Jim Bullard of the St. Louis Fed thinks rates need to rise to between 5 and 7% to be restrictive enough to kill inflation. Meanwhile, Mary Daly of the San Francisco Fed sees rates at 5% as a good starting point. Raphael Bostic of the Atlanta Fed sees rates between 4.75% and 5%. Thomas Barkin of the Richmond Fed notes that rates may need to rise above 5%, while Neel Kashkari sees rates above his 4.9% September projection.So if there were only 6 FOMC members who saw rates above 5% at the September FOMC, there are likely to be at least nine now, and probably several more at the December FOMC meeting that will signal that rates need to be in that 5 to 5.25% region for the peak terminal rate.If more evidence is needed, this article from the Wall Street Journal followed the jobs report \"suggesting\" the Fed would raise rates above 5% in 2023. Then another piece came out on December 5, which again \"suggested\" rates going above 5% in 2023. The WSJ has often telegraphed Fed monetary policy in 2022, such as back in June ahead of the Fed's first 75 bps rate hike.Given the messaging that rates are likely to be at least 5% and probably higher, it is highly probable the Fed will illustrate its projections through the December dot plot noting a terminal rate for 2023 at 5.1% or 50 bps higher rate than the September projection for 2023.The Market Doesn't Believe The FedOf course, this would come at odds with the market, which currently sees the peak terminal rate around 4.9%, and then the Fed cutting rates to 4.58% by December 2023, which is lower thanthe Fed's September projections of 4.6%. The market does not believe the Fed will hold rates above 5% for all of 2023, despite Fed officials consistently delivering that message for months.Mott CapitalIt is perhaps the reasoning behind Powell's apparent change in positioning at the Brookings Institution, where he seemed to give the market a pass regarding the recent easing of financial conditions. Instead, he focused on telegraphing the pace of rate hikes slowing from 75 to 50 bps. He knew he could also push back against the easing of financial conditions two weeks later at the December FOMC through the projections indicating a higher for longer timing, which the market has been unwilling to accept.Financial Conditions Need To TightenBy any measure, financial conditions have eased a lot since mid-October. The easing financial conditions do not help the Fed's overall cause of keeping policy restrictive enough to bring down inflation.BloombergIf the Fed can deliver this message of a 5% or higher terminal rate through the end of 2023, we will find that the 2-year rate is too low, which will need to rise. Since the summer, the 2-year rate has been trading at a discount to the December Fed Funds Futures by 10 to 25 bps. So if the Fed can convince the market it sees the Fed Funds rate at 5 to 5.25% by the end of 2023, then it seems probable that the 2-year rate can trade to as high as 4.8% to 5%.BloombergIt would likely result in the yield curve steepening further and the spread between the 2-year and the 10-year becoming more deeply inverted, as the market prices in a higher recession risk, and rates just staying higher for a longer period.BloombergIt would probably help to reverse a lot of the weakening in the dollar index and potentially push the index higher and back towards 110 over time.BloombergIt should also raise the VIX index as traders look to add protection again due to the increased risk of the Fed over-tightening. The VIX has already started moving higher since the Fed minutes were released just a couple of weeks ago, which also messaged a higher-for-longer approach to monetary policy in 2023.BloombergA strong dollar, higher rates, and higher implied volatility should tighten financial conditions. That will be a massive headwind for equity prices, resulting in stocks giving back nearly all of the gains witnessed since the October lows and potentially filling the technical gaps at 3,745 and 3,580.BloombergIs it likely to materialize at the time of the release of the FOMC statement or the press conference? That is impossible to say because that will depend on where implied volatility levels are and whether or not implied volatility is high enough to create a short-squeeze once IV comes crashing down following the news. As of December 9, IV was relatively high, at almost 31% for December 14 options expiration, and is only likely to rise further heading to the meeting next week.BloombergCould Lose ControlIf the Fed fails to gain control of the narrative and prove to the market it plans to get rates to 5% and hold them there in 2023, it risks losing control of the market, resulting in financial conditions easing further as rates drop, the dollar weakens, implied volatility falls, and stocks rip higher.Further easing of financial conditions would likely result in mortgage rates falling, lifting the housing market. Meanwhile, a weaker dollar would increase commodity prices and raise import prices, undoing much of the Fed's accomplishments in 2022.That is why the Fed must stand firm through the dot plot and the press conference if it is serious about bringing inflation down and cooling the labor.","news_type":1},"isVote":1,"tweetType":1,"viewCount":63,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9929773733,"gmtCreate":1670740563822,"gmtModify":1676538426727,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9929773733","repostId":"2290255966","repostType":4,"repost":{"id":"2290255966","pubTimestamp":1670623235,"share":"https://www.laohu8.com/m/news/2290255966?lang=&edition=full","pubTime":"2022-12-10 06:00","market":"us","language":"en","title":"3 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond","url":"https://stock-news.laohu8.com/highlight/detail?id=2290255966","media":"Motley Fool","summary":"The future for Shopify, Roku, and Nvidia is bright.","content":"<html><head></head><body><p>It has been a tough year for investors, but the last thing you want to do now is panic. Investing is a long-term game played out over decades. Growth stocks have been hit especially hard this year, but their long-term investment thesis hasn't changed.</p><p><b>Shopify</b>, <b>Roku</b>, and <b>Nvidia</b> are three downtrodden companies that look like excellent buying opportunities for investors willing to hold them for the next decade and beyond. What makes these companies appealing is their position in industries due for explosive growth in the coming years.</p><p>Here's what you should know about each of these growth stocks.</p><h2>1. Shopify's long-term prospects remain bright</h2><p>Shopify provides people with the tools they need to run their online stores (along with brick-and-mortar operations), handling everything from payment processing to inventory management and website hosting.</p><p>The company was a huge winner during the pandemic, which shifted consumer trends online in record fashion. From 2019 to 2021, Shopify's revenue grew 192%, and the optimism around online shopping trends was higher than ever.</p><p>Shopify management expected strong trends to continue and racked up expenses in a big way this year. Revenue growth was a solid 22%, but expenses ballooned by 69% -- resulting in $2.8 billion in losses this year. The company is working to reel in costs and laid off 10% of its workforce in July.</p><p>Management may have overshot the growth of online shopping, but the company continues to grow steadily. Shopify Payments, its payment processing solution, makes it easy for merchants to accept and process payment cards. This product accounted for 54% of Shopify's total gross merchandise volume through its platform, showing room for growth.</p><p>According to eMarketer, e-commerce sales are expected to grow from $5.2 billion in 2021 to $8.1 billion in 2026, a growth rate of roughly 9% annually. One way Shopify looks to build on its position is through its Shopify Fulfillment Network (SFN). This service simplifies logistics across the supply chain, from freight to distribution to delivery, and is expected to reach scale sometime in 2023 or 2024.</p><p>While Shopify stock may be down 71% this year, it is in an excellent position to keep scaling up and taking a share of the e-commerce market.</p><h2>2. Roku sits at the top of the streaming services world</h2><p>Roku provides customers with a streaming platform through its various products, including Roku Stick, smart TVs, and other streaming devices. According to Conviva, a provider of video analytics services, Roku is the world's top streaming platform, with its devices streaming 30.5% of users' total viewing time. <b>Amazon</b> Fire TV and Samsung TV were the next closest, with 16% and 13.7%, respectively, of users' total streaming time.</p><p>Roku's platform is free to use, making most of its money from ads and revenue-sharing deals when users engage with different apps. The company was a big winner during the pandemic and put together six consecutive profitable quarters. However, it hasn't had a profitable quarter this year, and its third-quarter loss of $122 million was the largest quarterly loss in its history.</p><p>Roku faces headwinds in the short term as ad spending softens amid an uncertain economic backdrop. Many companies are concerned about the health of the economy and consumer spending and have cut back on advertising expenses in response. Roku expects its net loss to balloon to $245 million in the fourth quarter.</p><p>Roku will face volatility in the short term, but the company is in a solid position for the long haul. It has done a stellar job of growing its user base and average revenue per user. In the third quarter, its user base grew 16% to 65.4 million, while the average revenue per user was up 10% to $44.25.</p><p>Its position as the top streaming platform will be crucial to Roku as connected TV ad spending grows. According to data from Statista, connected advertising spending in the U.S. will go from $18.9 billion this year to $38.8 billion in 2026, representing an annual growth rate of 20%.</p><p>While Roku faces short-term headwinds from softening ad spending, it still sees solid growth in its customer base. The company is well positioned to ride the tailwinds as more digital ad spending shifts to connected TV -- making Roku a company that could be a huge winner over the next decade.</p><h2>3. Nvidia's hardware powers lucrative innovations</h2><p>Nvidia produces crucial hardware that helps push the boundaries of what is possible. Its graphic processing units (GPUs) are behind some of the most innovative technological trends, including cloud computing, artificial intelligence (AI), gaming, autonomous vehicles, cryptocurrency, and the metaverse. According to Jon Peddie Research, Nvidia recently increased its discrete GPU market share to 88% in the third quarter.</p><p>Like others, Nvidia has faced headwinds this year. Inflation has dampened consumer spending on video cards for gaming, and its inventory levels have risen rapidly. Falling cryptocurrency prices have also weighed on consumer demand. Its third-quarter (ended Oct. 30) revenue fell 12% from the prior quarter and 17% from the same quarter last year. The company predicts weakness in the fourth quarter to continue, with revenue expected to fall around 21%.</p><p>Slowing demand has weighed on the stock, which is down 43% this year. However, when you zoom out and look at the long game, Nvidia is in an excellent position to grow. The company has leveraged its technology to build platforms enabling developers to deploy AI applications or build 3D worlds and avatars for the metaverse (Omniverse platform).</p><p>Overall, Nvidia believes its total addressable markets (TAM) is $1 trillion among its multiple products. Its largest TAMs are in chips and systems and automotive technology, each estimated to be at $300 billion. These markets are followed by its AI software and the Omniverse platform products, which it marks at $150 billion each.</p><p>Nvidia stock trades at a lofty price of 37 times forward earnings and will likely face some volatility in the coming quarters. However, it's in an excellent position to capitalize on some of the most innovative technologies of our day -- making it another stellar stock that could be a huge winner over the next decade and beyond.</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>3 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond</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 Growth Stocks That Could Be Huge Winners in the Next Decade and Beyond\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-10 06:00 GMT+8 <a href=https://www.fool.com/investing/2022/12/09/3-growth-stocks-that-could-be-huge-winners-in-the/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It has been a tough year for investors, but the last thing you want to do now is panic. Investing is a long-term game played out over decades. Growth stocks have been hit especially hard this year, ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/09/3-growth-stocks-that-could-be-huge-winners-in-the/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SHOP":"Shopify Inc","ROKU":"Roku Inc","NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2022/12/09/3-growth-stocks-that-could-be-huge-winners-in-the/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2290255966","content_text":"It has been a tough year for investors, but the last thing you want to do now is panic. Investing is a long-term game played out over decades. Growth stocks have been hit especially hard this year, but their long-term investment thesis hasn't changed.Shopify, Roku, and Nvidia are three downtrodden companies that look like excellent buying opportunities for investors willing to hold them for the next decade and beyond. What makes these companies appealing is their position in industries due for explosive growth in the coming years.Here's what you should know about each of these growth stocks.1. Shopify's long-term prospects remain brightShopify provides people with the tools they need to run their online stores (along with brick-and-mortar operations), handling everything from payment processing to inventory management and website hosting.The company was a huge winner during the pandemic, which shifted consumer trends online in record fashion. From 2019 to 2021, Shopify's revenue grew 192%, and the optimism around online shopping trends was higher than ever.Shopify management expected strong trends to continue and racked up expenses in a big way this year. Revenue growth was a solid 22%, but expenses ballooned by 69% -- resulting in $2.8 billion in losses this year. The company is working to reel in costs and laid off 10% of its workforce in July.Management may have overshot the growth of online shopping, but the company continues to grow steadily. Shopify Payments, its payment processing solution, makes it easy for merchants to accept and process payment cards. This product accounted for 54% of Shopify's total gross merchandise volume through its platform, showing room for growth.According to eMarketer, e-commerce sales are expected to grow from $5.2 billion in 2021 to $8.1 billion in 2026, a growth rate of roughly 9% annually. One way Shopify looks to build on its position is through its Shopify Fulfillment Network (SFN). This service simplifies logistics across the supply chain, from freight to distribution to delivery, and is expected to reach scale sometime in 2023 or 2024.While Shopify stock may be down 71% this year, it is in an excellent position to keep scaling up and taking a share of the e-commerce market.2. Roku sits at the top of the streaming services worldRoku provides customers with a streaming platform through its various products, including Roku Stick, smart TVs, and other streaming devices. According to Conviva, a provider of video analytics services, Roku is the world's top streaming platform, with its devices streaming 30.5% of users' total viewing time. Amazon Fire TV and Samsung TV were the next closest, with 16% and 13.7%, respectively, of users' total streaming time.Roku's platform is free to use, making most of its money from ads and revenue-sharing deals when users engage with different apps. The company was a big winner during the pandemic and put together six consecutive profitable quarters. However, it hasn't had a profitable quarter this year, and its third-quarter loss of $122 million was the largest quarterly loss in its history.Roku faces headwinds in the short term as ad spending softens amid an uncertain economic backdrop. Many companies are concerned about the health of the economy and consumer spending and have cut back on advertising expenses in response. Roku expects its net loss to balloon to $245 million in the fourth quarter.Roku will face volatility in the short term, but the company is in a solid position for the long haul. It has done a stellar job of growing its user base and average revenue per user. In the third quarter, its user base grew 16% to 65.4 million, while the average revenue per user was up 10% to $44.25.Its position as the top streaming platform will be crucial to Roku as connected TV ad spending grows. According to data from Statista, connected advertising spending in the U.S. will go from $18.9 billion this year to $38.8 billion in 2026, representing an annual growth rate of 20%.While Roku faces short-term headwinds from softening ad spending, it still sees solid growth in its customer base. The company is well positioned to ride the tailwinds as more digital ad spending shifts to connected TV -- making Roku a company that could be a huge winner over the next decade.3. Nvidia's hardware powers lucrative innovationsNvidia produces crucial hardware that helps push the boundaries of what is possible. Its graphic processing units (GPUs) are behind some of the most innovative technological trends, including cloud computing, artificial intelligence (AI), gaming, autonomous vehicles, cryptocurrency, and the metaverse. According to Jon Peddie Research, Nvidia recently increased its discrete GPU market share to 88% in the third quarter.Like others, Nvidia has faced headwinds this year. Inflation has dampened consumer spending on video cards for gaming, and its inventory levels have risen rapidly. Falling cryptocurrency prices have also weighed on consumer demand. Its third-quarter (ended Oct. 30) revenue fell 12% from the prior quarter and 17% from the same quarter last year. The company predicts weakness in the fourth quarter to continue, with revenue expected to fall around 21%.Slowing demand has weighed on the stock, which is down 43% this year. However, when you zoom out and look at the long game, Nvidia is in an excellent position to grow. The company has leveraged its technology to build platforms enabling developers to deploy AI applications or build 3D worlds and avatars for the metaverse (Omniverse platform).Overall, Nvidia believes its total addressable markets (TAM) is $1 trillion among its multiple products. Its largest TAMs are in chips and systems and automotive technology, each estimated to be at $300 billion. These markets are followed by its AI software and the Omniverse platform products, which it marks at $150 billion each.Nvidia stock trades at a lofty price of 37 times forward earnings and will likely face some volatility in the coming quarters. However, it's in an excellent position to capitalize on some of the most innovative technologies of our day -- making it another stellar stock that could be a huge winner over the next decade and beyond.","news_type":1},"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9929070903,"gmtCreate":1670572686402,"gmtModify":1676538396699,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Great tips","listText":"Great tips","text":"Great tips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9929070903","repostId":"1106536306","repostType":4,"repost":{"id":"1106536306","pubTimestamp":1670551683,"share":"https://www.laohu8.com/m/news/1106536306?lang=&edition=full","pubTime":"2022-12-09 10:08","market":"sg","language":"en","title":"7 Singapore Stocks That Paid Uninterrupted Dividends for a Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=1106536306","media":"The Smart Investor","summary":"Christmas is almost upon us, and it will once again be a merry time to celebrate with family and fri","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/327f0a5ff50e6ec241e3f9891849b044\" tg-width=\"800\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/>Christmas is almost upon us, and it will once again be a merry time to celebrate with family and friends.</p><p>But what will make the holiday season even more festive is if you received a bunch ofdividendsfrom your investments.</p><p>Dividends are not only a tangible return on your investment but also act as a stream of passive income that can sustain you through yourretirement.</p><p>If you are an income-seeking investor, you’re in luck.</p><p>The Singapore market has a plethora ofREITsand dividend-paying companies that you can choose from.</p><p>What’s more, some of these well-known businesses have been paying dividends for a decade or more.</p><p>Here are seven dividend stocks that could qualify to be on your buy watchlist.</p><h2><b>Singapore Exchange Limited (SGX: S68)</b></h2><p>Singapore Exchange Limited, or SGX, is Singapore’s sole stock exchange operator.</p><p>The group has been a steady payer of dividends for over two decades.</p><p>Back in fiscal 2001 (FY2001 ending 30 June), SGX paid out a dividend of S$0.055.</p><p>Fast forward to FY2022 and this dividend has increased to S$0.32, giving the bourse operator’s shares a trailing dividend yield of 3.5%.</p><p>SGX reported a decent set of earnings for FY2022, with revenue up 4% year on year to S$1.1 billion and net profit inching up 1% year on year to S$451 million.</p><h2><b>DBS Group (SGX: D05)</b></h2><p>DBS needs no introduction, being Singapore’s largest bank by market capitalisation.</p><p>The bank has been a solid payer of dividends all this while and back in FY2001, it paid out just S$0.26 in dividends.</p><p>Jumping ahead to today, the bank’s trailing 12-month dividend has increased significantly to S$1.44 per share.</p><p>Shares of the lender provide a trailing 12-month dividend yield of 4.3%.</p><p>DBS reported a sparklingset of earningsfor its fiscal 2022’s third quarter (3Q2022), with its net profit at an all-time high of S$2.2 billion.</p><h2><b>Parkway Life REIT (SGX: C2PU)</b></h2><p>Parkway Life REIT is a healthcare REIT that owns 61 properties comprising three hospitals in Singapore and 57 nursing homes in Japan, along with strata-titled units of a specialist centre in Kuala Lumpur in Malaysia.</p><p>The REIT has been paying out steady dividends since itsIPOback in FY2007.</p><p>Its annualised distribution per unit (DPU) in FY2007 was S$0.0632, and it has since more than doubled to S$0.1408 in FY2021.</p><p>The REIT has been paying out distributions for 15 solid years and looks set to continue.</p><p>For 3Q2022, gross revenue dipped by 1.3% year on year to S$89 million while net property income (NPI) inched up 0.1% year on year to S$82.8 million.</p><h2><b>Mapletree Logistics Trust (SGX: M44U)</b></h2><p>Mapletree Logistics Trust, or MLT, owns a portfolio of 186 properties across eight countries.</p><p>The REIT paid out a DPU of S$0.0507 for FY2006, its first full year of distributions after its listing.</p><p>12 years later, its DPU has increased to S$0.08787.</p><p>For the first half of FY2023, MLT reported acommendable performanceand saw its DPU rise further by 4.2% year on year to S$0.04516.</p><h2><b>Frasers Centrepoint Trust (SGX: J69U)</b></h2><p>Frasers Centrepoint Trust, of FCT, is a retail REIT with a portfolio of nine suburban malls and an office building worth S$6.2 billion as of 30 September 2022 (FY2022).</p><p>For its first full year of distribution in FY2007, the REIT paid out a DPU of S$0.0655.</p><p>By FY2022, the DPU has nearly doubled to S$0.12227.</p><p>Units of the REIT offer a trailing distribution yield of 6%.</p><h2><b>Hongkong Land Holdings Limited (SGX: H78)</b></h2><p>Hongkong Land Holdings Limited, or HKL, is a property development, investment and management group that owns and manages more than 850,000 square metres of prime commercial and residential properties.</p><p>The group has been paying out consistent dividends for more than a decade.</p><p>Back in FY2011, the total dividend per share stood at US$0.16.</p><p>By FY2018, HKL’s annual dividend had increased to US$0.22 paid half-yearly and has remained constant since then despite the onset of the pandemic.</p><p>For the first half of 2022 (1H2022), the property giant reported an 8% year on year rise in underlying net profit to US$425 million.</p><p>Its interim dividend was kept constant at US$0.06 per share.</p><h2><b>Sembcorp Industries Limited (SGX: U96)</b></h2><p>Sembcorp Industries Limited, or SCI, is an energy and urban solutions provider.</p><p>Theblue-chiputility group has been paying out dividends for more than two decades.</p><p>In FY1998, the group paid out a total dividend of S$0.025.</p><p>The annual dividend went as high as S$0.17 in FY2010 and FY2013 but hit a trough in FY2020 at S$0.04.</p><p>SCI has since reported asterling set of earningsfor 1H2022 and doubled its interim dividend.</p></body></html>","source":"lsy1602567310727","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>7 Singapore Stocks That Paid Uninterrupted Dividends for a Decade</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\">\n7 Singapore Stocks That Paid Uninterrupted Dividends for a Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-09 10:08 GMT+8 <a href=https://thesmartinvestor.com.sg/7-singapore-stocks-that-paid-uninterrupted-dividends-for-a-decade/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Christmas is almost upon us, and it will once again be a merry time to celebrate with family and friends.But what will make the holiday season even more festive is if you received a bunch ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/7-singapore-stocks-that-paid-uninterrupted-dividends-for-a-decade/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"M44U.SI":"丰树物流信托","J69U.SI":"星狮地产信托","D05.SI":"星展集团控股","S68.SI":"新加坡交易所","U96.SI":"胜科工业","H78.SI":"置地控股有限公司","C2PU.SI":"百汇生命产业信托"},"source_url":"https://thesmartinvestor.com.sg/7-singapore-stocks-that-paid-uninterrupted-dividends-for-a-decade/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106536306","content_text":"Christmas is almost upon us, and it will once again be a merry time to celebrate with family and friends.But what will make the holiday season even more festive is if you received a bunch ofdividendsfrom your investments.Dividends are not only a tangible return on your investment but also act as a stream of passive income that can sustain you through yourretirement.If you are an income-seeking investor, you’re in luck.The Singapore market has a plethora ofREITsand dividend-paying companies that you can choose from.What’s more, some of these well-known businesses have been paying dividends for a decade or more.Here are seven dividend stocks that could qualify to be on your buy watchlist.Singapore Exchange Limited (SGX: S68)Singapore Exchange Limited, or SGX, is Singapore’s sole stock exchange operator.The group has been a steady payer of dividends for over two decades.Back in fiscal 2001 (FY2001 ending 30 June), SGX paid out a dividend of S$0.055.Fast forward to FY2022 and this dividend has increased to S$0.32, giving the bourse operator’s shares a trailing dividend yield of 3.5%.SGX reported a decent set of earnings for FY2022, with revenue up 4% year on year to S$1.1 billion and net profit inching up 1% year on year to S$451 million.DBS Group (SGX: D05)DBS needs no introduction, being Singapore’s largest bank by market capitalisation.The bank has been a solid payer of dividends all this while and back in FY2001, it paid out just S$0.26 in dividends.Jumping ahead to today, the bank’s trailing 12-month dividend has increased significantly to S$1.44 per share.Shares of the lender provide a trailing 12-month dividend yield of 4.3%.DBS reported a sparklingset of earningsfor its fiscal 2022’s third quarter (3Q2022), with its net profit at an all-time high of S$2.2 billion.Parkway Life REIT (SGX: C2PU)Parkway Life REIT is a healthcare REIT that owns 61 properties comprising three hospitals in Singapore and 57 nursing homes in Japan, along with strata-titled units of a specialist centre in Kuala Lumpur in Malaysia.The REIT has been paying out steady dividends since itsIPOback in FY2007.Its annualised distribution per unit (DPU) in FY2007 was S$0.0632, and it has since more than doubled to S$0.1408 in FY2021.The REIT has been paying out distributions for 15 solid years and looks set to continue.For 3Q2022, gross revenue dipped by 1.3% year on year to S$89 million while net property income (NPI) inched up 0.1% year on year to S$82.8 million.Mapletree Logistics Trust (SGX: M44U)Mapletree Logistics Trust, or MLT, owns a portfolio of 186 properties across eight countries.The REIT paid out a DPU of S$0.0507 for FY2006, its first full year of distributions after its listing.12 years later, its DPU has increased to S$0.08787.For the first half of FY2023, MLT reported acommendable performanceand saw its DPU rise further by 4.2% year on year to S$0.04516.Frasers Centrepoint Trust (SGX: J69U)Frasers Centrepoint Trust, of FCT, is a retail REIT with a portfolio of nine suburban malls and an office building worth S$6.2 billion as of 30 September 2022 (FY2022).For its first full year of distribution in FY2007, the REIT paid out a DPU of S$0.0655.By FY2022, the DPU has nearly doubled to S$0.12227.Units of the REIT offer a trailing distribution yield of 6%.Hongkong Land Holdings Limited (SGX: H78)Hongkong Land Holdings Limited, or HKL, is a property development, investment and management group that owns and manages more than 850,000 square metres of prime commercial and residential properties.The group has been paying out consistent dividends for more than a decade.Back in FY2011, the total dividend per share stood at US$0.16.By FY2018, HKL’s annual dividend had increased to US$0.22 paid half-yearly and has remained constant since then despite the onset of the pandemic.For the first half of 2022 (1H2022), the property giant reported an 8% year on year rise in underlying net profit to US$425 million.Its interim dividend was kept constant at US$0.06 per share.Sembcorp Industries Limited (SGX: U96)Sembcorp Industries Limited, or SCI, is an energy and urban solutions provider.Theblue-chiputility group has been paying out dividends for more than two decades.In FY1998, the group paid out a total dividend of S$0.025.The annual dividend went as high as S$0.17 in FY2010 and FY2013 but hit a trough in FY2020 at S$0.04.SCI has since reported asterling set of earningsfor 1H2022 and doubled its interim dividend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9920685557,"gmtCreate":1670478846979,"gmtModify":1676538377278,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920685557","repostId":"1147378718","repostType":4,"repost":{"id":"1147378718","pubTimestamp":1670457824,"share":"https://www.laohu8.com/m/news/1147378718?lang=&edition=full","pubTime":"2022-12-08 08:03","market":"sg","language":"en","title":"Singapore Shares May Open Under Pressure On Thursday","url":"https://stock-news.laohu8.com/highlight/detail?id=1147378718","media":"RTTNews","summary":"The Singapore stock market has finished lower in two straight sessions, sinking more than 49 points ","content":"<html><head></head><body><p>The Singapore stock market has finished lower in two straight sessions, sinking more than 49 points or 1.3 percent along the way. The Straits Times Index now rests just above the 3,225-point plateau and it's tipped to open in the red again on Thursday.</p><p>The global forecast for the Asian markets is soft on recession concerns and on the outlook for interest rates. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.</p><p>The STI finished modestly lower on Wednesday following losses from the financial shares, trusts and properties.</p><p>For the day, the index shed 26.92 points or 0.83 percent to finish at the daily low of 3,225.45 after peaking at 3,252.25. Volume was 1.5 billion shares worth 1.1 billion Singapore dollars. There were 319 decliners and 227 gainers.</p><p>Among the actives, Ascendas REIT weakened 1.08 percent, while CapitaLand Integrated Commercial Trust tumbled 1.95 percent, CapitaLand Investment plummeted 3.80 percent, City Developments tanked 2.06 percent, Comfort DelGro dropped 0.80 percent, DBS Group declined 1.47 percent, Emperador climbed 1.03 percent, Hongkong Land spiked 2.62 percent, Mapletree Pan Asia Commercial Trust surrendered 1.76 percent, Mapletree Industrial Trust stumbled 1.35 percent, Mapletree Logistics Trust slumped 1.23 percent, Oversea-Chinese Banking Corporation dipped 0.16 percent, SATS plunged 2.72 percent, SembCorp Industries lost 0.62 percent, Singapore Technologies Engineering fell 0.59 percent, SingTel shed 0.75 percent, United Overseas Bank sank 0.78 percent, Wilmar International skidded 0.98 percent, Yangzijiang Shipbuilding retreated 1.43 percent and Keppel Corp, Thai Beverage, Genting Singapore and Yangzijiang Financial were unchanged.</p><p>The lead from Wall Street is mixed to lower following a volatile Wednesday that saw the major averages bounce back and forth across the unchanged line before ending on opposite sides.</p><p>The Dow rose 1.58 points or 0.00 percent to finish at 33,597.92, while the NASDAQ sank 56.34 points or 0.51 percent to end at 10,958.55 and the S&P 500 dipped 7.34 points or 0.19 percent to close at 3,933.92.</p><p>The choppy trading on Wall Street came as traders expressed uncertainty about the near-term outlook for the markets ahead of next week's Federal Reserve meeting.</p><p>The Fed still seems poised to slow the pace of interest rate hikes, but recent upbeat economic data has raised concerns about how much further the central bank will raise rates at future meetings.</p><p>The recent selling on Wall Street partly reflects worries the Fed will need to push the economy into a prolonged recession in order to bring inflation down close to its 2 percent target.</p><p>Crude oil prices fell sharply Wednesday, weighed down by data showing a sharp increase in gasoline inventories last week. West Texas Intermediate Crude futures for January ended lower by $2.24 or 3 percent at $72.01 a barrel, losing for the fourth consecutive session.</p></body></html>","source":"lsy1626938412129","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>Singapore Shares May Open Under Pressure On Thursday</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\">\nSingapore Shares May Open Under Pressure On Thursday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-08 08:03 GMT+8 <a href=https://www.rttnews.com/3330608/singapore-shares-may-open-under-pressure-on-thursday.aspx?type=acom><strong>RTTNews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Singapore stock market has finished lower in two straight sessions, sinking more than 49 points or 1.3 percent along the way. The Straits Times Index now rests just above the 3,225-point plateau ...</p>\n\n<a href=\"https://www.rttnews.com/3330608/singapore-shares-may-open-under-pressure-on-thursday.aspx?type=acom\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.rttnews.com/3330608/singapore-shares-may-open-under-pressure-on-thursday.aspx?type=acom","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147378718","content_text":"The Singapore stock market has finished lower in two straight sessions, sinking more than 49 points or 1.3 percent along the way. The Straits Times Index now rests just above the 3,225-point plateau and it's tipped to open in the red again on Thursday.The global forecast for the Asian markets is soft on recession concerns and on the outlook for interest rates. The European markets were down and the U.S. bourses were mixed and the Asian markets figure to split the difference.The STI finished modestly lower on Wednesday following losses from the financial shares, trusts and properties.For the day, the index shed 26.92 points or 0.83 percent to finish at the daily low of 3,225.45 after peaking at 3,252.25. Volume was 1.5 billion shares worth 1.1 billion Singapore dollars. There were 319 decliners and 227 gainers.Among the actives, Ascendas REIT weakened 1.08 percent, while CapitaLand Integrated Commercial Trust tumbled 1.95 percent, CapitaLand Investment plummeted 3.80 percent, City Developments tanked 2.06 percent, Comfort DelGro dropped 0.80 percent, DBS Group declined 1.47 percent, Emperador climbed 1.03 percent, Hongkong Land spiked 2.62 percent, Mapletree Pan Asia Commercial Trust surrendered 1.76 percent, Mapletree Industrial Trust stumbled 1.35 percent, Mapletree Logistics Trust slumped 1.23 percent, Oversea-Chinese Banking Corporation dipped 0.16 percent, SATS plunged 2.72 percent, SembCorp Industries lost 0.62 percent, Singapore Technologies Engineering fell 0.59 percent, SingTel shed 0.75 percent, United Overseas Bank sank 0.78 percent, Wilmar International skidded 0.98 percent, Yangzijiang Shipbuilding retreated 1.43 percent and Keppel Corp, Thai Beverage, Genting Singapore and Yangzijiang Financial were unchanged.The lead from Wall Street is mixed to lower following a volatile Wednesday that saw the major averages bounce back and forth across the unchanged line before ending on opposite sides.The Dow rose 1.58 points or 0.00 percent to finish at 33,597.92, while the NASDAQ sank 56.34 points or 0.51 percent to end at 10,958.55 and the S&P 500 dipped 7.34 points or 0.19 percent to close at 3,933.92.The choppy trading on Wall Street came as traders expressed uncertainty about the near-term outlook for the markets ahead of next week's Federal Reserve meeting.The Fed still seems poised to slow the pace of interest rate hikes, but recent upbeat economic data has raised concerns about how much further the central bank will raise rates at future meetings.The recent selling on Wall Street partly reflects worries the Fed will need to push the economy into a prolonged recession in order to bring inflation down close to its 2 percent target.Crude oil prices fell sharply Wednesday, weighed down by data showing a sharp increase in gasoline inventories last week. West Texas Intermediate Crude futures for January ended lower by $2.24 or 3 percent at $72.01 a barrel, losing for the fourth consecutive session.","news_type":1},"isVote":1,"tweetType":1,"viewCount":11,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9920906718,"gmtCreate":1670410701134,"gmtModify":1676538362351,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920906718","repostId":"2289814769","repostType":4,"repost":{"id":"2289814769","pubTimestamp":1670427122,"share":"https://www.laohu8.com/m/news/2289814769?lang=&edition=full","pubTime":"2022-12-07 23:32","market":"us","language":"en","title":"3 Supercharged Growth Stocks With 393% to 1,153% Upside in 2023, According to Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2289814769","media":"Motley Fool","summary":"Select Wall Street analysts believe these fast-growing companies could skyrocket next year.","content":"<html><head></head><body><p>This has been a historic year for all the wrong reasons. The bond market has delivered its worst year on record, the <b>S&P 500</b> produced its worst first-half return in 52 years, and the nation's central bank is aggressively raising interest rates as the stock market plunges. There simply haven't been many safe havens for investors.</p><p>Yet in spite of these challenges, most Wall Street analysts maintain an optimistic tone. The reason being that recessions and bear markets tend to be short-lived. With the major U.S. indexes eventually erasing corrections, crashes, and bear markets over time, it generally pays to be an optimist.</p><p>However, some analysts are taking optimism to an extreme. Based on the highest price targets issued by Wall Street, the following three supercharged growth stocks offer upside ranging between 393% and 1,153% in 2023.</p><h2>Plug Power: Implied upside of 393%</h2><p>The first fast-paced company with serious upside is hydrogen fuel-cell solution provider <b>Plug Power</b>. According to analyst Amit Dayal of H.C. Wainwright, Plug Power can reach $78. For those of you keeping score at home, this would work out to a near-quintupling in the company's share price in 2023.</p><p>Dayal's optimism stems from a number of catalysts. First and foremost is the ongoing shift by most developed countries toward a renewable-energy-driven future. Plug expects to play a key role in supplying fuel cells for vehicles and industrial equipment (e.g., forklifts), as well as building the infrastructure needed to support fuel cell vehicle refueling.</p><p>Additionally, Dayal is excited about management's efforts to improve operating margin while continuing to rapidly growing sales. Earlier this year, Dayal cited the opening of the company's fuel cell gigafactory in New York (this occurred in mid-November) and the rollout of next-generation GenDrive units, which are less costly to service, as reasons the company's margin can improve.</p><p>But the biggest catalyst of all might just be Plug Power's ability to forge partnerships and joint ventures. It landed an equity investment from SK Group in early 2021 and is working with <b>Renault</b> via a joint venture to go after a significant portion of Europe's light commercial vehicle market. These partnerships should help lift Plug from just over $500 million in sales in 2021 to a company-forecast $3 billion in revenue by 2025.</p><p>However -- and this is the <i>big</i> "however" -- Plug Power isn't profitable, and the growing likelihood of a U.S. recession, coupled with high inflation in most developed countries, could coerce businesses and governments to postpone their green-energy transition/spending to a later date.</p><p>With Plug Power already valued at north of $9 billion, a lot of its future sales growth appears to be baked in. Until the company can plant its proverbial feet in the ground and deliver on the bottom line, a $78 price target will be hard to justify.</p><h2>Bionano Genomics: Implied upside of 474%</h2><p>A second supercharged growth stock with monumental upside, at least according to one Wall Street analyst, is small-cap genome analysis company <b>Bionano Genomics</b>. If <b>Oppenheimer</b> analyst Francois Brisebois is correct, Bionano shares will hit $12 in 2023, which would represent an upside of a cool 474%.</p><p>Although Brisebois is the current analyst covering Bionano for Oppenheimer, it was his predecessor, Kevin DeGeeter, who primarily laid out the case for Bionano Genomics running to $12. In DeGeeter's view, Bionano's optical genome mapping (OGM) system, known as Saphyr, has demonstrated that it's faster, less expensive, and in many ways more effective at identifying structural genome variations than other OGM systems.</p><p>One thing investors don't have to worry about with Bionano Genomics is a lack of data demonstrating Saphyr's efficacy. Over the past two years, the company has released numerous studies and data points extolling Saphyr's ability to recognize structural variations in everything from various types of cancer to genetic disorders and recurrent pregnancy loss. In theory, Saphyr can play a key role in helping researchers and drug developers fight hard-to-treat diseases.</p><p>Another positive for Bionano Genomics is its healthy cash position. After its share price went parabolic to begin 2021, management wisely chose to issue stock to raise plenty of capital. The company ended September with approximately $180 million in cash, cash equivalents, and available-for-sale securities. That's more than enough to offset quarterly losses as the company continues to innovate and look for ways to expand Saphyr's utility.</p><p>So, why is Bionano Genomics at $2.09 per share and not $12? The answer to that question largely has to do with Saphyr not being an approved diagnostic system by the U.S. Food and Drug Administration (FDA). Without this approval, Saphyr's utility is limited within the United States. It's not exactly clear if and when Saphyr might get the green light from the FDA, either.</p><p>Although Bionano's cash does provide a somewhat safe floor, the ceiling proposed by Brisebois and DeGeeter doesn't seem achievable without FDA support.</p><h2>Novavax: Implied upside of 1,153%</h2><p>The third supercharged growth stock with truly jaw-dropping upside potential, based on the price target of one analyst, is biotech stock <b>Novavax</b>. According to H.C. Wainwright analyst Vernon Bernardino, who last updated his firm's price target in March 2022, Novavax is poised to hit (drum roll) $207 per share. That represents a whopping 1,153% upside from where shares ended this past week.</p><p>Bernardino's price target, which sits as the high-water mark among covering analysts, was based on the idea that Novavax would receive authorization to sell its protein-based COVID-19 vaccine, NVX-CoV2373, worldwide. Whereas the <b>Moderna</b> and <b>Pfizer</b>/<b>BioNTech</b> vaccines rely on messenger-RNA (mRNA) technology, the Novavax vaccine is differentiated in that it relies on an older and more traditional application of introducing harmless pieces of spike protein to teach a person's immune system how to fight and/or prevent infection. The thinking here is that folks who were leery of getting an mRNA vaccine might be more willing to receive an initial series or booster shots from Novavax's protein-based COVID-19 vaccine.</p><p>Something else that's working in Novavax's favor is the efficacy of NVX-CoV2373. Only three COVID-19 vaccines have reached the highly coveted 90% vaccine efficacy (VE) level. Those being Moderna (94.1%), Pfizer/BioNTech (95%), and Novavax (90.4%) with its U.S./Mexico trial in 2021. Even though VE is just one measure of efficacy, it's a strong enough headline number to keep Novavax in the global rotation as a major initial series and booster vaccine player.</p><p>Similar to Bionano, Novavax is swimming with cash. The company ended the third quarter with $1.28 billion in cash and cash equivalents, which is more than enough to cover the future repayment of its convertible notes and fuel ongoing research. In particular, Novavax could be one of the first drug developers to bring a combination vaccine targeting COVID-19 and influenza to market.</p><p>But even being a shareholder, I don't in any way foresee $207 as a viable price target for Novavax in 2023. With the company enduring numerous emergency-use filing delays and production snafus, it missed out on most of the low-hanging fruit in developed markets in 2022. Moving forward, it'll primarily be focusing its attention on recurring booster shots in developed countries and initial series vaccinations in emerging markets.</p><p>While I believe Novavax is an amazing value at its current share price, it could take a couple of quarters before Wall Street realizes that as well. If sales growth continues, losses shrink, and the company advances its combination vaccines, it could certainly end 2023 on a much higher note than it'll finish 2022.</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>3 Supercharged Growth Stocks With 393% to 1,153% Upside in 2023, According to Wall Street</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 Supercharged Growth Stocks With 393% to 1,153% Upside in 2023, According to Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-07 23:32 GMT+8 <a href=https://www.fool.com/investing/2022/12/06/3-growth-stocks-with-393-to-1153-upside-in-2023/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This has been a historic year for all the wrong reasons. The bond market has delivered its worst year on record, the S&P 500 produced its worst first-half return in 52 years, and the nation's central ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/06/3-growth-stocks-with-393-to-1153-upside-in-2023/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源","NVAX":"诺瓦瓦克斯医药","BNGO":"Bionano Genomics"},"source_url":"https://www.fool.com/investing/2022/12/06/3-growth-stocks-with-393-to-1153-upside-in-2023/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2289814769","content_text":"This has been a historic year for all the wrong reasons. The bond market has delivered its worst year on record, the S&P 500 produced its worst first-half return in 52 years, and the nation's central bank is aggressively raising interest rates as the stock market plunges. There simply haven't been many safe havens for investors.Yet in spite of these challenges, most Wall Street analysts maintain an optimistic tone. The reason being that recessions and bear markets tend to be short-lived. With the major U.S. indexes eventually erasing corrections, crashes, and bear markets over time, it generally pays to be an optimist.However, some analysts are taking optimism to an extreme. Based on the highest price targets issued by Wall Street, the following three supercharged growth stocks offer upside ranging between 393% and 1,153% in 2023.Plug Power: Implied upside of 393%The first fast-paced company with serious upside is hydrogen fuel-cell solution provider Plug Power. According to analyst Amit Dayal of H.C. Wainwright, Plug Power can reach $78. For those of you keeping score at home, this would work out to a near-quintupling in the company's share price in 2023.Dayal's optimism stems from a number of catalysts. First and foremost is the ongoing shift by most developed countries toward a renewable-energy-driven future. Plug expects to play a key role in supplying fuel cells for vehicles and industrial equipment (e.g., forklifts), as well as building the infrastructure needed to support fuel cell vehicle refueling.Additionally, Dayal is excited about management's efforts to improve operating margin while continuing to rapidly growing sales. Earlier this year, Dayal cited the opening of the company's fuel cell gigafactory in New York (this occurred in mid-November) and the rollout of next-generation GenDrive units, which are less costly to service, as reasons the company's margin can improve.But the biggest catalyst of all might just be Plug Power's ability to forge partnerships and joint ventures. It landed an equity investment from SK Group in early 2021 and is working with Renault via a joint venture to go after a significant portion of Europe's light commercial vehicle market. These partnerships should help lift Plug from just over $500 million in sales in 2021 to a company-forecast $3 billion in revenue by 2025.However -- and this is the big \"however\" -- Plug Power isn't profitable, and the growing likelihood of a U.S. recession, coupled with high inflation in most developed countries, could coerce businesses and governments to postpone their green-energy transition/spending to a later date.With Plug Power already valued at north of $9 billion, a lot of its future sales growth appears to be baked in. Until the company can plant its proverbial feet in the ground and deliver on the bottom line, a $78 price target will be hard to justify.Bionano Genomics: Implied upside of 474%A second supercharged growth stock with monumental upside, at least according to one Wall Street analyst, is small-cap genome analysis company Bionano Genomics. If Oppenheimer analyst Francois Brisebois is correct, Bionano shares will hit $12 in 2023, which would represent an upside of a cool 474%.Although Brisebois is the current analyst covering Bionano for Oppenheimer, it was his predecessor, Kevin DeGeeter, who primarily laid out the case for Bionano Genomics running to $12. In DeGeeter's view, Bionano's optical genome mapping (OGM) system, known as Saphyr, has demonstrated that it's faster, less expensive, and in many ways more effective at identifying structural genome variations than other OGM systems.One thing investors don't have to worry about with Bionano Genomics is a lack of data demonstrating Saphyr's efficacy. Over the past two years, the company has released numerous studies and data points extolling Saphyr's ability to recognize structural variations in everything from various types of cancer to genetic disorders and recurrent pregnancy loss. In theory, Saphyr can play a key role in helping researchers and drug developers fight hard-to-treat diseases.Another positive for Bionano Genomics is its healthy cash position. After its share price went parabolic to begin 2021, management wisely chose to issue stock to raise plenty of capital. The company ended September with approximately $180 million in cash, cash equivalents, and available-for-sale securities. That's more than enough to offset quarterly losses as the company continues to innovate and look for ways to expand Saphyr's utility.So, why is Bionano Genomics at $2.09 per share and not $12? The answer to that question largely has to do with Saphyr not being an approved diagnostic system by the U.S. Food and Drug Administration (FDA). Without this approval, Saphyr's utility is limited within the United States. It's not exactly clear if and when Saphyr might get the green light from the FDA, either.Although Bionano's cash does provide a somewhat safe floor, the ceiling proposed by Brisebois and DeGeeter doesn't seem achievable without FDA support.Novavax: Implied upside of 1,153%The third supercharged growth stock with truly jaw-dropping upside potential, based on the price target of one analyst, is biotech stock Novavax. According to H.C. Wainwright analyst Vernon Bernardino, who last updated his firm's price target in March 2022, Novavax is poised to hit (drum roll) $207 per share. That represents a whopping 1,153% upside from where shares ended this past week.Bernardino's price target, which sits as the high-water mark among covering analysts, was based on the idea that Novavax would receive authorization to sell its protein-based COVID-19 vaccine, NVX-CoV2373, worldwide. Whereas the Moderna and Pfizer/BioNTech vaccines rely on messenger-RNA (mRNA) technology, the Novavax vaccine is differentiated in that it relies on an older and more traditional application of introducing harmless pieces of spike protein to teach a person's immune system how to fight and/or prevent infection. The thinking here is that folks who were leery of getting an mRNA vaccine might be more willing to receive an initial series or booster shots from Novavax's protein-based COVID-19 vaccine.Something else that's working in Novavax's favor is the efficacy of NVX-CoV2373. Only three COVID-19 vaccines have reached the highly coveted 90% vaccine efficacy (VE) level. Those being Moderna (94.1%), Pfizer/BioNTech (95%), and Novavax (90.4%) with its U.S./Mexico trial in 2021. Even though VE is just one measure of efficacy, it's a strong enough headline number to keep Novavax in the global rotation as a major initial series and booster vaccine player.Similar to Bionano, Novavax is swimming with cash. The company ended the third quarter with $1.28 billion in cash and cash equivalents, which is more than enough to cover the future repayment of its convertible notes and fuel ongoing research. In particular, Novavax could be one of the first drug developers to bring a combination vaccine targeting COVID-19 and influenza to market.But even being a shareholder, I don't in any way foresee $207 as a viable price target for Novavax in 2023. With the company enduring numerous emergency-use filing delays and production snafus, it missed out on most of the low-hanging fruit in developed markets in 2022. Moving forward, it'll primarily be focusing its attention on recurring booster shots in developed countries and initial series vaccinations in emerging markets.While I believe Novavax is an amazing value at its current share price, it could take a couple of quarters before Wall Street realizes that as well. If sales growth continues, losses shrink, and the company advances its combination vaccines, it could certainly end 2023 on a much higher note than it'll finish 2022.","news_type":1},"isVote":1,"tweetType":1,"viewCount":17,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9967014125,"gmtCreate":1670227530867,"gmtModify":1676538324705,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9967014125","repostId":"2288946354","repostType":4,"repost":{"id":"2288946354","pubTimestamp":1670206384,"share":"https://www.laohu8.com/m/news/2288946354?lang=&edition=full","pubTime":"2022-12-05 10:13","market":"us","language":"en","title":"5 Monster Stocks to Buy Before 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2288946354","media":"Motley Fool","summary":"These companies offer solid buying opportunities right now.","content":"<html><head></head><body><p>The bear market may not feel like a great time for investing. But here's the thing: It actually is one of the <i>best</i> times to buy stocks. That's because you can pick up stocks that may have been expensive in the past for a bargain. In many cases, we're talking about market leaders and companies that have become household names.</p><p>Bear markets don't last forever (thankfully). So, these solid players could rebound and thrive at any moment. That means right now is the time to get in on companies that have what it takes to lift your portfolio over the long term. Let's check out five monster stocks to buy before 2023.</p><h2>1. <a href=\"https://laohu8.com/S/AMZN\">Amazon</a></h2><p><b>Amazon</b> (AMZN) has had a tough year. The e-commerce and cloud computing giant has reported quarter after quarter of declines in operating income. And free cash flow has even shifted to an outflow. That's as higher inflation increased Amazon's costs and weighed on the wallets of its customers.</p><p>Things don't look great for the company right now. But the key words are "right now." The long-term picture remains extremely bright. The e-commerce and cloud computing services markets are forecast to grow in the double digits this decade. Amazon, as a leader, should benefit.</p><p>Also, today's tough times have prompted the company to improve its cost structure. That will serve it well in the future. It has shifted its investments to favor its cloud computing business, Amazon Web Services. That business still is posting double-digit growth in operating income and revenue.</p><p>As for e-commerce, Amazon this fall reached record sign-ups for its U.S. Prime subscription service. That, too, is another great sign for the future.</p><p>Amazon trades for its cheapest in relation to sales since 2015. Through a long-term lens, the stock looks dirt cheap.</p><h2>2. <a href=\"https://laohu8.com/S/DIS\">Disney</a></h2><p><b>Disney</b> (DIS) has reached a big turning point. The entertainment giant has reported growth in its parks, experiences, and products business. And it's made great progress in signing on members to its streaming services -- adding 57 million this year. But Disney is struggling with higher costs. And its shares have tumbled 36% this year.</p><p>But here's the good news. Disney recently brought back longtime Chief Executive Officer Bob Iger. He's the one responsible for successes like the purchases of Pixar and Marvel. He is also the CEO behind the blockbuster film <i>Frozen</i>.</p><p>Iger proved himself when it comes to general growth at Disney. During his tenure, market value, revenue, and profit climbed in the triple digits. All of this means he is probably the best person to put Disney back on the right track.</p><p><img src=\"https://static.tigerbbs.com/9b17c5eb0a02b001f785d54ec60be4b0\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/></p><p>DIS Market Cap data by YCharts</p><p>The strength in the parks business is another bright spot. That business' revenue rose 73% in the recently ended fiscal year. And parks, experiences, and products traditionally has contributed the most to the company's total revenue.</p><p>Today, Disney trades for about half of what it was trading for earlier this year -- that's in relation to forward earnings estimates. So now is time to get in on this recovery story.</p><p><img src=\"https://static.tigerbbs.com/c96ed2ef42b4e17257e5d9a6bb65cec4\" tg-width=\"720\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/></p><p>DIS PE Ratio (Forward) data by YCharts</p><h2>3. <a href=\"https://laohu8.com/S/ETSY\">Etsy</a></h2><p><b>Etsy</b> (ETSY) soared during the early days of the pandemic, when people opted for online shopping over in-store visits. The company is a platform connecting sellers of handmade items with buyers.</p><p>Since then, Etsy's growth has slowed. And the shares are heading for a 36% loss this year. That said, the company is weathering the economic storm better than most retailers. Sellers are small businesses, so elements like supply chain issues and inventory woes are less of a problem.</p><p>Etsy actually managed to grow its marketplace gross merchandise sales (GMS) 0.2% in the third quarter. That's excluding the impact of currency exchanges. And if we compare it with the pre-pandemic third quarter of 2019, GMS jumped 134%.</p><p>The company also has done a great job of growing its audience -- and keeping shoppers loyal. Habitual buyers made up 46% of GMS in the quarter. And Etsy brought in 6 million new buyers.</p><p>Today, it trades for 33 times forward earnings estimates. That's down from more than 60 earlier this year. Considering Etsy's strength in revenue and the loyalty of its shoppers, future prospects look good. And that's why today's price is a real bargain.</p><h2>4. <a href=\"https://laohu8.com/S/ISRG\">Intuitive Surgical</a></h2><p><a href=\"https://laohu8.com/S/ISRG\">Intuitive Surgical </a> is the global leader in robotic surgery -- by far. The company holds nearly 80% of the market, according to BIS Research. And this leadership is likely to continue for two reasons.</p><p>First, surgical robots cost more than $1 million. So once a hospital has made this sort of investment, it's likely to stick with it. Second, most surgeons are trained on Intuitive's flagship da Vinci system. It's unlikely they'll want to switch to an entirely new system from one they know well.</p><p>What else to like about Intuitive? Its revenue model doesn't depend only on the sales of these robots. Intuitive also has a source of recurrent revenue. And this revenue actually surpasses that of robot sales. I'm talking about sales of the instruments and accessories that surgeons need for each procedure.</p><p>Intuitive's recent share performance doesn't reflect this great business model. This year, the stock is heading for a 23% decline. The company suffered on and off during the pandemic as hospitals postponed surgeries. That meant hospitals didn't have to invest in instruments right away. They also didn't focus on buying new robotic systems.</p><p>Today, Intuitive trades at 58 times forward earnings estimates. That's compared with more than 72 earlier this year. Considering the long-term leadership picture, now is time to load up on this healthcare player.</p><h2>5. <a href=\"https://laohu8.com/S/HD\">Home Depot</a></h2><p><b>Home Depot</b>'s (HD) earnings have defied the bear market. But its stock performance hasn't. The shares are heading for a 21% drop this year. And the shares are a screaming buy at less than 20 times forward earnings estimates.</p><p>The world's biggest home-improvement retailer says demand has remained strong in both its do-it-yourself (DIY) business and professional business. Importantly, the pros say their project backlogs are strong. This suggests they will continue to shop at Home Depot in the coming months as they launch these new projects. And that's great news for Home Depot's revenue.</p><p>The pro market totals $450 billion, offering Home Depot room for growth. The company is making efforts to keep these customers and its DIY shoppers loyal.</p><p>For example, it's adding new features to its app to streamline the shopping experience. The efforts are working. The company has seen double-digit growth all year in monthly active users. That's compared with last year.</p><p>And in the most recent quarter, 11 of the 14 merchandising areas posted positive comparable sales. All of this means there's reason to be optimistic about Home Depot's future earnings. And earnings growth could translate into major share gains. So, now, before 2023, is the perfect time to add this winning player to your portfolio.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Monster Stocks to Buy Before 2023</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Monster Stocks to Buy Before 2023\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-05 10:13 GMT+8 <a href=https://www.fool.com/investing/2022/12/03/5-monster-stocks-to-buy-before-2023/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The bear market may not feel like a great time for investing. But here's the thing: It actually is one of the best times to buy stocks. That's because you can pick up stocks that may have been ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/12/03/5-monster-stocks-to-buy-before-2023/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼","AMZN":"亚马逊","HD":"家得宝","ISRG":"直觉外科公司","ETSY":"Etsy, Inc."},"source_url":"https://www.fool.com/investing/2022/12/03/5-monster-stocks-to-buy-before-2023/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2288946354","content_text":"The bear market may not feel like a great time for investing. But here's the thing: It actually is one of the best times to buy stocks. That's because you can pick up stocks that may have been expensive in the past for a bargain. In many cases, we're talking about market leaders and companies that have become household names.Bear markets don't last forever (thankfully). So, these solid players could rebound and thrive at any moment. That means right now is the time to get in on companies that have what it takes to lift your portfolio over the long term. Let's check out five monster stocks to buy before 2023.1. AmazonAmazon (AMZN) has had a tough year. The e-commerce and cloud computing giant has reported quarter after quarter of declines in operating income. And free cash flow has even shifted to an outflow. That's as higher inflation increased Amazon's costs and weighed on the wallets of its customers.Things don't look great for the company right now. But the key words are \"right now.\" The long-term picture remains extremely bright. The e-commerce and cloud computing services markets are forecast to grow in the double digits this decade. Amazon, as a leader, should benefit.Also, today's tough times have prompted the company to improve its cost structure. That will serve it well in the future. It has shifted its investments to favor its cloud computing business, Amazon Web Services. That business still is posting double-digit growth in operating income and revenue.As for e-commerce, Amazon this fall reached record sign-ups for its U.S. Prime subscription service. That, too, is another great sign for the future.Amazon trades for its cheapest in relation to sales since 2015. Through a long-term lens, the stock looks dirt cheap.2. DisneyDisney (DIS) has reached a big turning point. The entertainment giant has reported growth in its parks, experiences, and products business. And it's made great progress in signing on members to its streaming services -- adding 57 million this year. But Disney is struggling with higher costs. And its shares have tumbled 36% this year.But here's the good news. Disney recently brought back longtime Chief Executive Officer Bob Iger. He's the one responsible for successes like the purchases of Pixar and Marvel. He is also the CEO behind the blockbuster film Frozen.Iger proved himself when it comes to general growth at Disney. During his tenure, market value, revenue, and profit climbed in the triple digits. All of this means he is probably the best person to put Disney back on the right track.DIS Market Cap data by YChartsThe strength in the parks business is another bright spot. That business' revenue rose 73% in the recently ended fiscal year. And parks, experiences, and products traditionally has contributed the most to the company's total revenue.Today, Disney trades for about half of what it was trading for earlier this year -- that's in relation to forward earnings estimates. So now is time to get in on this recovery story.DIS PE Ratio (Forward) data by YCharts3. EtsyEtsy (ETSY) soared during the early days of the pandemic, when people opted for online shopping over in-store visits. The company is a platform connecting sellers of handmade items with buyers.Since then, Etsy's growth has slowed. And the shares are heading for a 36% loss this year. That said, the company is weathering the economic storm better than most retailers. Sellers are small businesses, so elements like supply chain issues and inventory woes are less of a problem.Etsy actually managed to grow its marketplace gross merchandise sales (GMS) 0.2% in the third quarter. That's excluding the impact of currency exchanges. And if we compare it with the pre-pandemic third quarter of 2019, GMS jumped 134%.The company also has done a great job of growing its audience -- and keeping shoppers loyal. Habitual buyers made up 46% of GMS in the quarter. And Etsy brought in 6 million new buyers.Today, it trades for 33 times forward earnings estimates. That's down from more than 60 earlier this year. Considering Etsy's strength in revenue and the loyalty of its shoppers, future prospects look good. And that's why today's price is a real bargain.4. Intuitive SurgicalIntuitive Surgical is the global leader in robotic surgery -- by far. The company holds nearly 80% of the market, according to BIS Research. And this leadership is likely to continue for two reasons.First, surgical robots cost more than $1 million. So once a hospital has made this sort of investment, it's likely to stick with it. Second, most surgeons are trained on Intuitive's flagship da Vinci system. It's unlikely they'll want to switch to an entirely new system from one they know well.What else to like about Intuitive? Its revenue model doesn't depend only on the sales of these robots. Intuitive also has a source of recurrent revenue. And this revenue actually surpasses that of robot sales. I'm talking about sales of the instruments and accessories that surgeons need for each procedure.Intuitive's recent share performance doesn't reflect this great business model. This year, the stock is heading for a 23% decline. The company suffered on and off during the pandemic as hospitals postponed surgeries. That meant hospitals didn't have to invest in instruments right away. They also didn't focus on buying new robotic systems.Today, Intuitive trades at 58 times forward earnings estimates. That's compared with more than 72 earlier this year. Considering the long-term leadership picture, now is time to load up on this healthcare player.5. Home DepotHome Depot's (HD) earnings have defied the bear market. But its stock performance hasn't. The shares are heading for a 21% drop this year. And the shares are a screaming buy at less than 20 times forward earnings estimates.The world's biggest home-improvement retailer says demand has remained strong in both its do-it-yourself (DIY) business and professional business. Importantly, the pros say their project backlogs are strong. This suggests they will continue to shop at Home Depot in the coming months as they launch these new projects. And that's great news for Home Depot's revenue.The pro market totals $450 billion, offering Home Depot room for growth. The company is making efforts to keep these customers and its DIY shoppers loyal.For example, it's adding new features to its app to streamline the shopping experience. The efforts are working. The company has seen double-digit growth all year in monthly active users. That's compared with last year.And in the most recent quarter, 11 of the 14 merchandising areas posted positive comparable sales. All of this means there's reason to be optimistic about Home Depot's future earnings. And earnings growth could translate into major share gains. So, now, before 2023, is the perfect time to add this winning player to your portfolio.","news_type":1},"isVote":1,"tweetType":1,"viewCount":160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9964643188,"gmtCreate":1670140898244,"gmtModify":1676538309702,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9964643188","repostId":"1152464265","repostType":4,"repost":{"id":"1152464265","pubTimestamp":1670022054,"share":"https://www.laohu8.com/m/news/1152464265?lang=&edition=full","pubTime":"2022-12-03 07:00","market":"us","language":"en","title":"11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall","url":"https://stock-news.laohu8.com/highlight/detail?id=1152464265","media":"Bloomberg","summary":"Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Ha","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/cb8b5a354d9d687bd95cdff74dddc508\" tg-width=\"1214\" tg-height=\"811\" width=\"100%\" height=\"auto\"/></p><p>Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Halloween party are still hanging from a doorway. Two boxes of Legos sit on the floor of one bedroom. And then there are the shoes—dozens of sneakers and heels piled in the foyer, left behind by employees who fled the island of New Providence last month when his cryptocurrency exchangeFTX imploded.</p><p>“It’s been an interesting few weeks,” Bankman-Fried says in a chipper tone as he greets me. It’s a muggy Saturday afternoon, eight days after FTX filed for bankruptcy. He’s shoeless, in white gym socks, a red T-shirt and wrinkled khaki shorts. His standard uniform.</p><p>This isn’t part of the typical tour Bankman-Fried gave to the many reporters who came to tell the tale of the boy-genius-crypto-billionaire who slept on a beanbag chair next to his desk and only got rich so he could give it all away, and it’s easy to see why. The apartment is at the top of one of the luxury condo buildings that border a marina in a gated community called Albany. Outside, deckhands buff the stanchions of a 200-foot yacht owned by a fracking billionaire. A bronze replica of Wall Street’s<i>Charging Bull</i>statue stands on the lawn, which is as manicured as the residents. I feel like I’ve crash-landed on an alien planet populated solely by the very rich and the people who work for them.</p><p>Bankman-Fried leads me down a marble-floored hallway to a small bedroom, where he perches on a plush brown couch. Always known for being jittery, he taps his foot so hard it rattles a coffee table, smacks gum and rubs his index finger with his thumb like he’s twirling an invisible fidget spinner. But he seems almost cheerful as he explains why he’s invited me into his 12,000-square-foot bolthole, against the advice of his lawyers, even as investigators from theUS Department of Justice probewhether he used customers’ funds to prop up his hedge fund, a crime that could send him to prison for years. (Spoiler alert: It sure looks like he did.)</p><p>“What I’m focusing on is what I can do, right now, to try and make things as right as possible,” Bankman-Fried says. “I can’t do that if I’m just focused on covering my ass.”</p><p>But he seems to be doing just that, with me here and all along the apology tour he’ll later embark on, which will include a video appearance at a<i>New York Times</i>conference and an interview on<i>Good Morning America</i>. He’s been trying to blame his firm’s failure on a hazy combination of comically poor bookkeeping, wildly misjudged risks and complete ignorance of what his hedge fund was doing. In other words, an alumnus of both MIT and the elite Wall Street trading firmJane Streetis arguing that he was just dumb with the numbers—not pulling a conscious fraud. Talking in detail to journalists about what’s certain to be the subject of extensive litigation seems like an unusual strategy, but it makes sense: The press helped him create his only-honest-man-in-crypto image, so why not use them to talk his way out of trouble?</p><p><img src=\"https://static.tigerbbs.com/79b2ba9ef6da8454146f200cdc460f6e\" tg-width=\"1000\" tg-height=\"666\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Bankman-Fried after an interview on<i>Bloomberg Wealth With David Rubenstein</i>on Aug. 17, 2022.Photographer: Jeenah Moon/Bloomberg</p><p>He doesn’t say so, but one reason he might be willing to speak with me is that I’m one of the reporters who helped build him up. After spending two days at FTX’s offices in February, I flew past the brightred flagsat his company—its lack of corporate governance, the ties to his Alameda Research hedge fund, its profligate spending on marketing, the fact that it operated largely outside US jurisdiction. Iwrote a storyfocused on whether Bankman-Fried would follow through on his plans to donate huge sums to charity and his connections to an unusual philanthropic movement calledeffective altruism.</p><p>It wasn’t the most embarrassingly puffy of the many puff pieces that came out about him. (“After my interview with SBF, I was convinced: I was talking to a future trillionaire,” one writer said in an article commissioned by a venture capital firm.) But my tone wasn’t entirely dissimilar. “Bankman-Fried is a thought experiment from a college philosophy seminar come to life,” I wrote. “Should someone who wants to save the world first amass as much money and power as possible, or will the pursuit corrupt him along the way?” Now it seems pretty clear that a better question would’ve been whether the business was ascam from the start.</p><p>I tell Bankman-Fried I want to talk about the decisions that led to FTX’s collapse, and why he took them. Earlier in the week, inlate-night DM exchangeswith a<i>Vox</i>reporter and on a phone call with a YouTuber, he made comments that many interpreted as an admission that everything he said was a lie. (“So the ethics stuff, mostly a front?” the<i>Vox</i>reporter asked. “Yeah,” Bankman-Fried replied.) He’d spoken so cynically about his motivations that to many it seemed like a comic book character was pulling off his mask to reveal the villain who’d been hiding there all along.</p><p>I set out on this visit with a different working theory. Maybe I was feeling the tug of my past reporting, but I still didn’t think the talk about charity was all made up. Since he was a teenager, Bankman-Fried has described himself as utilitarian—following the philosophy that the correct action is the one likely to result in the greatest good for the greatest number of people. He said his endgame was making and donating enough money to prevent pandemics and stop runaway artificial intelligence from destroying humanity. Faced with a crisis, and believing he was the hero of his own sci-fi movie, he might’ve thought it was right to make a crazy, even illegal, gamble to save his company.</p><p>To be clear, if that’s what happened, it’s the logic of a megalomaniac, not a martyr. The money wasn’t his to gamble with, and “the ends justify the means” is a cliché of bad ethics. But if it’s what he believed, he might still think he’d made the right decision, even if it didn’t work out. It seemed to me that’s what he meant when he messaged<i>Vox</i>, “The worst quadrant is sketchy + lose. The best is win + ???” I want to probe that, in part because it might get him to talk more candidly about what had happened to his customers’ money.</p><p>I decide to approach the topic gingerly, on terms I think he’ll relate to, as it seems he’s in less of a crime-confess-y mood. He’s said he likes to evaluate decisions in terms of expected value—the odds of success times the likely payoff—so I begin by asking: “Should I judge you by your impact, or by the expected value of your decision?”</p><p>“When all is said and done, what matters is your actual realized impact. Like, that’s what actually matters to the world,” he says. “But, obviously, there’s luck.”</p><p>That’s the in I’m looking for. For the next 11 hours—with breaks for fundraising calls and a very awkward dinner—I try to get him to tell me exactly what he meant. He denies that he’s committed fraud or lied to anyone and blames FTX’s failure on his sloppiness and inattention. But at points it seems like he’s saying he got<i>un</i>lucky, or miscalculated the odds.</p><p>Bankman-Fried tells me he’s still got a chance to raise $8 billion to save his company. He seems delusional, or committed to pretending this is still an error he can fix, and either way, the few supporters remaining at his penthouse seem unlikely to set him straight. The grim scene reminds me a bit of the end of<i>Scarface</i>, with Tony Montana holed up in his mansion, semi-incoherent, his unknown enemies sneaking closer. But instead of mountains of cocaine, Bankman-Fried is clinging to spreadsheet tabs filled with wildly optimistic cryptocurrency valuations.</p><p>Think of FTX like an offshore casino. Customers sent in money, then gambled on the price of hundreds ofcryptocurrencies—not just Bitcoin or Ether, but more obscure coins. In crypto slang, the latter are called shitcoins, because almost no one knows what they’re for. But in the past few years, otherwise respectable people, from retired dentists to heads of state, convinced themselves that these coins werethe future of finance. Or at least that enough other people might think so to make the price go up. Bankman-Fried’s casino was growing so fast that earlier this year some of Silicon Valley’s top venture capitalists invested in it at a $32 billion valuation.</p><p>The problem surfaced last month. After a rival crypto-casino kingpin raised concerns about FTX on Twitter, customers rushed to cash in their chips. But when Bankman-Fried’s casino opened the vault, their money wasn’t there. According to multiple news reports citing people familiar with the matter, it had been secretly lent to Bankman-Fried’s hedge fund, which had lost it in some mix of bad bets, insane spending and perhaps something even sketchier. John Ray III, the lawyer who’s now chief executive officer of the bankrupt exchange, has alleged in court that FTX covered up the loans using secret software.</p><p>Bankman-Fried denies this again to me. Returning to the framework of expected value, I ask him if the decisions he made were correct.</p><p>“I think that I’ve made a lot of plus-EV decisions and a few very large boneheaded decisions,” he says. “Certainly in retrospect, those very large decisions were very bad, and may end up overwhelming everything else.”</p><p>The chain of events, in his telling, started about four years ago. Bankman-Fried was in Hong Kong, where he’d moved from Berkeley, California, with a small group of friends from the effective-altruism community. Together they ran a successful startup crypto hedge fund,Alameda Research. (The name itself was an early example of his casual attitude toward rules—it was chosen to avoid scrutiny from banks, which frequently closed its accounts. “If we named our company like, Shitcoin Daytraders Inc., they’d probably just reject us,” Bankman-Fried told a podcaster in 2021. “But, I mean, no one doesn’t like research.”)</p><p>The fund had made millions of dollars exploiting inefficiencies across cryptocurrency exchanges. (Ex-employees, even those otherwise critical of Bankman-Fried, have said this is true, though some have said Alameda then lost some of that money because of bad trades and mismanagement.) Bankman-Fried and his friends began considering starting their own exchange—what would become FTX.</p><p>The way Bankman-Fried later described this decision reveals his attitude toward risk. He estimated there was an 80% chance the exchange would fail to attract enough customers. But he’s said one should always take a bet, even a long-shot one, if the expected value is positive, calling this stance “risk neutral.” But it actually meant he would take risks that to a normal person sound insane. “As an individual, to make a bet where it’s like, ‘I’m going to gamble my $10 billion and either get $20 billion or $0, with equal probability,’ would be madness,” Rob Wiblin, host of an effective-altruism podcast, said to Bankman-Fried in April. “But from an altruistic point of view, it’s not so crazy.”</p><p>“Completely agree,” Bankman-Fried replied. He told another interviewer that he’d make a bet described as a chance of “51% you double the earth out somewhere else, 49% it all disappears.”</p><p>Bankman-Fried and his friends jump-started FTX by having Alameda provide liquidity. It was a huge conflict of interest. Imagine if the top executives at an online poker site also entered its high-stakes tournaments—the temptation to cheat by peeking at other players’ cards would be huge. But Bankman-Fried assured customers that Alameda would play by the same rules as everyone else, and enough people came to trade that FTX took off. “Having Alameda provide liquidity on FTX early on was the right decision, because I think that helped make FTX a great product for users, even though it obviously ended up backfiring,” Bankman-Fried tells me.</p><p>Part of FTX’s appeal was that it was mostly a derivatives exchange, which allowed customers to trade “on margin,” meaning with borrowed money. That’s a key to his defense. Bankman-Fried argues no one should be surprised that big traders on FTX, including Alameda, were borrowing from the exchange, and that his fund’s position just somehow got out of hand. “Everyone was borrowing and lending,” he says. “That’s been its calling card.” But FTX’s normal margin system, crypto traders tell me, would never have permitted anyone to accumulate a debt that looked like Alameda’s. When I ask if Alameda had to follow the same margin rules as other traders, he admits the fund did not. “There was more leeway,” he says.</p><p>That wouldn’t have been so important had Alameda stuck to its original trading strategy of relatively low-risk arbitrage trades. But in 2020 and 2021, as Bankman-Fried became the face of FTX, amajor political donorand a favorite of Silicon Valley, Alameda faced more competition in that market-making business. It shifted its strategy to, essentially, gambling on shitcoins.</p><p>As Caroline Ellison, then Alameda’s co-CEO, explained in aMarch 2021 post on Twitter: “The way to really make money is figure out when the market is going to go up and get balls long before that,” she wrote, adding that she’d learned the strategy from the classic market-manipulation memoir,<i>Reminiscences of a Stock Operator.</i>Her co-CEO said in another tweet that a profitable strategy was buying Dogecoin becauseElon Musktweeted about it.</p><p>The reason they were bragging about what sounded like a high schooler’s tactics was that it was working better than anyone knew. When we spoke in February 2022, Bankman-Fried told me that Alameda had made $1 billion the previous year. He now says that was Alameda’s arbitrage profits. On top of that, its shitcoins gained tens of billions of dollars of value, at least on paper. “If you mark everything to market, I do believe at one point my net worth got to $100 billion,” Bankman-Fried says.</p><p>Any trader would know this wasn’t nearly as good as it sounded. The large pile of tokens couldn’t be turned into cash without crashing the market. Much of it was even made of tokens that Bankman-Fried and his friends had spun up themselves, such as FTT, Serum or Maps—the official currency of a nonsensical crypto-meets-mapping app—or were closely affiliated with, like Solana. While Bankman-Fried acknowledges the pile was worth something less than $100 billion—maybe he’d mark it down a third, he says—he maintains that he could have extracted quite a lot of real money from his holdings.</p><p>But he didn’t. Instead, Alameda borrowed billions of dollars from other crypto lenders—not FTX—and sunk them into more crypto bets. Publicly, Bankman-Fried presented himself as an ethical operator andcalled for regulationto rein in crypto’s worst excesses. But through his hedge fund, he’d actually become the market’s most degenerate gambler. I ask him why, if he really thought he could sell the tokens, he didn’t. “Why not, like, take some risk off?”</p><p>“OK. In retrospect, absolutely. That would’ve been the right, like, unambiguously the right thing to do,” he says. “But also it was just, like, hilariously well-capitalized.”</p><p>Near the peak of the great shitcoin boom, in April 2022, FTX hosted a lavish conference at a resort and casino in Nassau. It was Bankman-Fried’s coming out party. He got to share the stage with quarterback Tom Brady. Also there: former Prime Minister Tony Blair and ex-President Bill Clinton, who extended a fatherly hand when the young crypto executive seemed nervous. The author Michael Lewis, who’s working on a book about Bankman-Fried, praised him in a fawning interview onstage. “You’re breaking land speed records. And I don’t think people are really noticing what’s happened, just how dramatic the revolution has become,” Lewis said, asking when crypto would take over Wall Street.</p><p>The next month, thecrypto crash began. It started when a popular set of coins called Terra and Luna collapsed, wiping out $60 billion. Terra and Luna were almost openly a Ponzi scheme, but some of the biggest crypto funds had invested in them with borrowed money and went bankrupt. This made the lenders who’d lent billions of dollars to Alameda nervous. They asked Alameda to repay the loans, with real money. It needed billions of dollars, fast, or it would go bust.</p><p>There are two different versions of what happened next. Two people with knowledge of the matter told me that Ellison, by then the sole head of Alameda, had told her side of the story to her staff amid the crisis. Ellison said that she, Bankman-Fried and his two top lieutenants—Gary Wang and Nishad Singh—had discussed the shortfall. Instead of admitting Alameda’s failure, they decided to use FTX customer funds to cover it, according to the people. If that’s true, all four executives would’ve knowingly committed fraud. (Ellison, Wang and Singh didn’t respond to messages seeking comment.)</p><p>When I put this to Bankman-Fried, he screws up his eyes, furrows his eyebrows, puts his hands in his hair and thinks for a few seconds.</p><p>“So, it’s not how I remember what happened,” Bankman-Fried says. But he surprises me by acknowledging that there had been a meeting, post-Luna crash, where they debated what to do about Alameda’s debts. The way he tells it, he was packing for a trip to DC and “only kibitzing on parts of the discussion.” It didn’t seem like a crisis, he says. It was a matter of extending a bit more credit to a fund that already traded on margin and still had a pile of collateral worth way more than enough to cover the loan. (Although the pile of collateral was largely shitcoins.)</p><p>“That was the point at which Alameda’s margin position on FTX got, well, it got more leveraged substantially,” he says. “Obviously, in retrospect, we should’ve just said no. I sort of didn’t realize then how large the position had gotten.”</p><p>“You were all aware there was a chance this would not work,” I say.</p><p>“That’s right,” he says. “But I thought that the risk was substantially smaller.”</p><p>I try to imagine what he could’ve been thinking. If FTX had liquidated Alameda’s position, the fund would’ve gone bankrupt, and even if the exchange didn’t take direct losses, customers would’ve lost confidence in it. Bankman-Fried points out that the companies that lent money to Alameda might have failed, too, causing a hard-to-predict cascade of events.</p><p>“Now let’s say you don’t margin call Alameda,” I posit. “Maybe you think there’s like a 70% chance everything will be OK, it’ll all work out?”</p><p>“Yes, but also in the cases where it didn’t work out, I thought the downside was not nearly as high as it was,” he says. “I thought that there was the risk of a much smaller hole. I thought it was going to be manageable.”</p><p>Bankman-Fried pulls out his laptop (an Acer Predator) and opens a spreadsheet to show what he meant. It’s similar to thebalance sheethe reportedly showed investors when he was seeking a last-minute bailout, which he says consolidated FTX and Alameda’s positions because by then the fund had defaulted on its debt. On one line—labeled “What I *thought*”—he lists $8.9 billion in debts and way more than enough money to pay them: $9 billion in liquid assets, $15.4 billion in “less liquid” assets and $3.2 billion in “illiquid” ones. He tells me this was more or less the position he was considering when he had the meeting with the other executives.</p><p>“It looks naively to me like, you know, there’s still some significant liabilities out there, but, like, we should be able to cover it,” he says.</p><p>“So what’s the problem, then?”</p><p>Bankman-Fried points to another place on the spreadsheet, which he says shows the actual truth of the situation at the time of the meeting. This one shows similar numbers, but with $8 billion less liquid assets.</p><p>“What’s the difference between these two rows here?” he asks.</p><p>“You didn’t have $8 billion in cash that you thought you had,” I say.</p><p>“That’s correct. Yes.”</p><p>“You misplaced $8 billion?” I ask.</p><p>“Misaccounted,” Bankman-Fried says, sounding almost proud of his explanation. Sometimes, he says, customers would wire money to Alameda Research instead of sending it directly to FTX. (Some banks were more willing to work with the hedge fund than the exchange, for some reason.) He claims that somehow, FTX’s internal accounting system double-counted this money, essentially crediting it to both the exchange and the fund.</p><p>That still doesn’t explain why the money was gone. “Where did the $8 billion go?” I ask.</p><p>To answer, Bankman-Fried creates a new tab on the spreadsheet and starts typing. He lists Alameda and FTX’s biggest cash flows. One of the biggest expenses is paying a net $2.5 billion toBinance, a rival, to buy out its investment in FTX. He also lists $250 million for real estate, $1.5 billion for expenses, $4 billion for venture capital investments, $1.5 billion for acquisitions and $1 billion labeled “fuckups.” Even accounting for both firms’ profits, and all the venture capital money raised by FTX, it tallies to negative $6.5 billion.</p><p>Bankman-Fried is telling me that the billions of dollars customers wired to Alameda is gone simply because the companies spent way more than they made. He claims he paid so little attention to his expenses that he didn’t realize he was spending more than he was taking in. “I was real lazy about this mental math,” the former physics major says. He creates another column in his spreadsheet and types in much lower numbers to show what he thought he was spending at the time.</p><p>It seems to me like he is, without saying it exactly, blaming his underlings for FTX’s failure, especially Ellison, the head of Alameda. The two had dated and lived together at times. She was part of Bankman-Fried’s Future Fund, which was supposed to distribute FTX and Alameda’s earnings to effective-altruist-approved causes. It seems unlikely she would’ve blown billions of dollars without asking. “People might take, like, the TLDR as, like, it was my ex-girlfriend’s fault,” I tell him. “That is sort of what you’re saying.”</p><p>“I think the biggest failure was that it wasn’t entirely clear whose fault it was,” he says.</p><p>Bankman-Fried tells me he has to make a call. After a while, the sun goes down and I’m hungry. I’m allowed to join a group of Bankman-Fried’s supporters for dinner, as long as I don’t mention their names.</p><p>With the curtains drawn, the living room looks considerably less grand than it does in pictures. I’ve been told that FTX employees gathered here amid the crisis, while Bankman-Fried worked in another apartment. Addled by stress and sleep deprivation, they wept and hugged one another. Most didn’t say goodbye as they left the island, one by one. Many flew back to their childhood homes to be with their parents.</p><p>The supporters at the dinner tell me they feel like the press has been unfair. They say that Bankman-Fried and his friends weren’t the polyamorous partiers the tabloids have portrayed and that they did little besides work. Earlier in the week, a Bahamian man who’d served as FTX’s round-the-clock chauffeur and gofer also told me the reports weren’t true. “People make it seem like this big<i>Wolf of Wall Street</i>thing,” he said. “Bro, it was a bunch of nerds.”</p><p><img src=\"https://static.tigerbbs.com/b87535c118f069e782e80762398d0a9c\" tg-width=\"1000\" tg-height=\"1000\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Illustration: Maxime Mouysset for Bloomberg Businessweek</p><p>By the time I finish my plate of off-the-record rice and beans, Bankman-Fried is free again. We return to the study. He’s barefoot now, having balled up his gym socks and stuffed them behind a couch cushion. He lies on the couch, his computer on his lap. The light from the screen casts shadows of his curls on his forehead.</p><p>I notice a skin-colored patch on his arm. He tells me it’s a transdermal antidepressant, selegiline. I ask if he’s using it as a performance enhancer or to treat depression. “Nothing’s binary,” he says. “But I’ve been borderline depressed for my whole life.” He adds that he also sometimes takes Adderall—“10 milligrams at a time, a few times a day”—as did some of his colleagues, but that talk of drug use is overblown. “I don’t think that was the problem,” he says.</p><p>I tell Bankman-Fried my theory about his motivation, sidestepping the question of whether he misappropriated customer funds. Bankman-Fried denies that his world-saving goals made him willing to take giant gambles. As we talk more, it seems like he’s saying he made some kind of bet but hadn’t calculated the expected value properly.</p><p>“I was comfortable taking the risk that, like, I may end up kind of falling flat,” he says, staring at his computer screen, where he had pulled up a game and was leading an army of cartoon knights and fairies into battle. “But what actually happened was disastrously bad and, like, no significant chance of that happening would’ve made sense to risk, and that was a fuckup. Like, that was a mass miscalculation in downside.”</p><p>I read Bankman-Fried a post by Will MacAskill, one of the founders of the effective-altruism movement. He recruited Bankman-Fried into it when he was a junior at MIT and this year had joined the board of Bankman-Fried’s Future Fund. On Nov. 11,MacAskill wrote on Twitterthat Bankman-Fried had betrayed him. “For years, the EA community has emphasized the importance of integrity, honesty and the respect of common-sense moral constraints,” MacAskill wrote. “If customer funds were misused, then Sam did not listen; he must have thought he was above such considerations.”</p><p>Bankman-Fried closes his eyes and pushes his toes against one arm of the couch, clenching the other arm with his hands. “That’s not how I view what happened,” he says. “But I did fuck up. I think really what I want to say is, like, I’m really fucking sorry. By far the worst thing about this is that it will tarnish the reputation of people who are dedicated to doing nothing but what they thought was best for the world.” Bankman-Fried trails off. On his computer screen, his army casts spells and swings swords unattended.</p><p>I ask what he’d say to people who are comparing him to the most famous Ponzi schemer of recent times. “Bernie Madoff also said he had good intentions and gave a lot to charity,” I say.</p><p>“FTX was a legitimate, profitable, thriving business. And I fucked up by, like, allowing a margin position to get too big on it. One that endangered the platform. It was a completely unnecessary and unforced error, which like maybe I got super unlucky on, but, like, that was my bad.”</p><p>“It fucking sucks,” he adds. “But it wasn’t inherent to what the business was. It was just a fuckup. A huge fuckup.”</p><p>To me, it doesn’t really seem like a fuckup. Even if I believe that he misplaced and accidentally spent $8 billion, he’s already told me that Alameda had been allowed to violate FTX’s margin rules. This wasn’t some little technical thing. He was so proud of FTX’s margining system that he’d been lobbying regulators for it to be used on US exchanges instead of traditional safeguards. In May, Bankman-Fried himself said on Twitter that exchanges should never extend credit to a fund and put other customers’ assets at risk. He wrote that the idea an exchange would even have that discretion was “scary.” I read him the tweets and ask: “Isn’t that, like, exactly what you did, right around that time?”</p><p>“Yeah, I guess that’s kind of fair,” he says. Then he seems to claim that this was evidence the rules he was lobbying for were a good idea. “I think this is one of the things that would have stopped.”</p><p>“You had a rule on your platform. You didn’t follow it,” I say.</p><p>By now it’s past midnight, and—operating without the benefit of any prescription stimulants—I’m worn out. I ask Bankman-Fried if I can see the apartment’s deck before I leave. Outside, crickets chirp as we stand by the pool. The marina is dark, lit only by the spotlights of yachts. As I say goodbye, Bankman-Fried bites into a burger bun and starts talking about potential bailouts with one of his supporters.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-03 07:00 GMT+8 <a href=https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a ...</p>\n\n<a href=\"https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.bloomberg.com/news/features/2022-12-02/inside-sam-bankman-fried-s-bahamian-penthouse-after-ftx-s-collapse?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152464265","content_text":"Sam Bankman-Fried’s $30 million Bahamas penthouse looks like a dorm after the students have left for winter break. The dishwasher is full. Towels are piled in the laundry room. Bat streamers from a Halloween party are still hanging from a doorway. Two boxes of Legos sit on the floor of one bedroom. And then there are the shoes—dozens of sneakers and heels piled in the foyer, left behind by employees who fled the island of New Providence last month when his cryptocurrency exchangeFTX imploded.“It’s been an interesting few weeks,” Bankman-Fried says in a chipper tone as he greets me. It’s a muggy Saturday afternoon, eight days after FTX filed for bankruptcy. He’s shoeless, in white gym socks, a red T-shirt and wrinkled khaki shorts. His standard uniform.This isn’t part of the typical tour Bankman-Fried gave to the many reporters who came to tell the tale of the boy-genius-crypto-billionaire who slept on a beanbag chair next to his desk and only got rich so he could give it all away, and it’s easy to see why. The apartment is at the top of one of the luxury condo buildings that border a marina in a gated community called Albany. Outside, deckhands buff the stanchions of a 200-foot yacht owned by a fracking billionaire. A bronze replica of Wall Street’sCharging Bullstatue stands on the lawn, which is as manicured as the residents. I feel like I’ve crash-landed on an alien planet populated solely by the very rich and the people who work for them.Bankman-Fried leads me down a marble-floored hallway to a small bedroom, where he perches on a plush brown couch. Always known for being jittery, he taps his foot so hard it rattles a coffee table, smacks gum and rubs his index finger with his thumb like he’s twirling an invisible fidget spinner. But he seems almost cheerful as he explains why he’s invited me into his 12,000-square-foot bolthole, against the advice of his lawyers, even as investigators from theUS Department of Justice probewhether he used customers’ funds to prop up his hedge fund, a crime that could send him to prison for years. (Spoiler alert: It sure looks like he did.)“What I’m focusing on is what I can do, right now, to try and make things as right as possible,” Bankman-Fried says. “I can’t do that if I’m just focused on covering my ass.”But he seems to be doing just that, with me here and all along the apology tour he’ll later embark on, which will include a video appearance at aNew York Timesconference and an interview onGood Morning America. He’s been trying to blame his firm’s failure on a hazy combination of comically poor bookkeeping, wildly misjudged risks and complete ignorance of what his hedge fund was doing. In other words, an alumnus of both MIT and the elite Wall Street trading firmJane Streetis arguing that he was just dumb with the numbers—not pulling a conscious fraud. Talking in detail to journalists about what’s certain to be the subject of extensive litigation seems like an unusual strategy, but it makes sense: The press helped him create his only-honest-man-in-crypto image, so why not use them to talk his way out of trouble?Bankman-Fried after an interview onBloomberg Wealth With David Rubensteinon Aug. 17, 2022.Photographer: Jeenah Moon/BloombergHe doesn’t say so, but one reason he might be willing to speak with me is that I’m one of the reporters who helped build him up. After spending two days at FTX’s offices in February, I flew past the brightred flagsat his company—its lack of corporate governance, the ties to his Alameda Research hedge fund, its profligate spending on marketing, the fact that it operated largely outside US jurisdiction. Iwrote a storyfocused on whether Bankman-Fried would follow through on his plans to donate huge sums to charity and his connections to an unusual philanthropic movement calledeffective altruism.It wasn’t the most embarrassingly puffy of the many puff pieces that came out about him. (“After my interview with SBF, I was convinced: I was talking to a future trillionaire,” one writer said in an article commissioned by a venture capital firm.) But my tone wasn’t entirely dissimilar. “Bankman-Fried is a thought experiment from a college philosophy seminar come to life,” I wrote. “Should someone who wants to save the world first amass as much money and power as possible, or will the pursuit corrupt him along the way?” Now it seems pretty clear that a better question would’ve been whether the business was ascam from the start.I tell Bankman-Fried I want to talk about the decisions that led to FTX’s collapse, and why he took them. Earlier in the week, inlate-night DM exchangeswith aVoxreporter and on a phone call with a YouTuber, he made comments that many interpreted as an admission that everything he said was a lie. (“So the ethics stuff, mostly a front?” theVoxreporter asked. “Yeah,” Bankman-Fried replied.) He’d spoken so cynically about his motivations that to many it seemed like a comic book character was pulling off his mask to reveal the villain who’d been hiding there all along.I set out on this visit with a different working theory. Maybe I was feeling the tug of my past reporting, but I still didn’t think the talk about charity was all made up. Since he was a teenager, Bankman-Fried has described himself as utilitarian—following the philosophy that the correct action is the one likely to result in the greatest good for the greatest number of people. He said his endgame was making and donating enough money to prevent pandemics and stop runaway artificial intelligence from destroying humanity. Faced with a crisis, and believing he was the hero of his own sci-fi movie, he might’ve thought it was right to make a crazy, even illegal, gamble to save his company.To be clear, if that’s what happened, it’s the logic of a megalomaniac, not a martyr. The money wasn’t his to gamble with, and “the ends justify the means” is a cliché of bad ethics. But if it’s what he believed, he might still think he’d made the right decision, even if it didn’t work out. It seemed to me that’s what he meant when he messagedVox, “The worst quadrant is sketchy + lose. The best is win + ???” I want to probe that, in part because it might get him to talk more candidly about what had happened to his customers’ money.I decide to approach the topic gingerly, on terms I think he’ll relate to, as it seems he’s in less of a crime-confess-y mood. He’s said he likes to evaluate decisions in terms of expected value—the odds of success times the likely payoff—so I begin by asking: “Should I judge you by your impact, or by the expected value of your decision?”“When all is said and done, what matters is your actual realized impact. Like, that’s what actually matters to the world,” he says. “But, obviously, there’s luck.”That’s the in I’m looking for. For the next 11 hours—with breaks for fundraising calls and a very awkward dinner—I try to get him to tell me exactly what he meant. He denies that he’s committed fraud or lied to anyone and blames FTX’s failure on his sloppiness and inattention. But at points it seems like he’s saying he gotunlucky, or miscalculated the odds.Bankman-Fried tells me he’s still got a chance to raise $8 billion to save his company. He seems delusional, or committed to pretending this is still an error he can fix, and either way, the few supporters remaining at his penthouse seem unlikely to set him straight. The grim scene reminds me a bit of the end ofScarface, with Tony Montana holed up in his mansion, semi-incoherent, his unknown enemies sneaking closer. But instead of mountains of cocaine, Bankman-Fried is clinging to spreadsheet tabs filled with wildly optimistic cryptocurrency valuations.Think of FTX like an offshore casino. Customers sent in money, then gambled on the price of hundreds ofcryptocurrencies—not just Bitcoin or Ether, but more obscure coins. In crypto slang, the latter are called shitcoins, because almost no one knows what they’re for. But in the past few years, otherwise respectable people, from retired dentists to heads of state, convinced themselves that these coins werethe future of finance. Or at least that enough other people might think so to make the price go up. Bankman-Fried’s casino was growing so fast that earlier this year some of Silicon Valley’s top venture capitalists invested in it at a $32 billion valuation.The problem surfaced last month. After a rival crypto-casino kingpin raised concerns about FTX on Twitter, customers rushed to cash in their chips. But when Bankman-Fried’s casino opened the vault, their money wasn’t there. According to multiple news reports citing people familiar with the matter, it had been secretly lent to Bankman-Fried’s hedge fund, which had lost it in some mix of bad bets, insane spending and perhaps something even sketchier. John Ray III, the lawyer who’s now chief executive officer of the bankrupt exchange, has alleged in court that FTX covered up the loans using secret software.Bankman-Fried denies this again to me. Returning to the framework of expected value, I ask him if the decisions he made were correct.“I think that I’ve made a lot of plus-EV decisions and a few very large boneheaded decisions,” he says. “Certainly in retrospect, those very large decisions were very bad, and may end up overwhelming everything else.”The chain of events, in his telling, started about four years ago. Bankman-Fried was in Hong Kong, where he’d moved from Berkeley, California, with a small group of friends from the effective-altruism community. Together they ran a successful startup crypto hedge fund,Alameda Research. (The name itself was an early example of his casual attitude toward rules—it was chosen to avoid scrutiny from banks, which frequently closed its accounts. “If we named our company like, Shitcoin Daytraders Inc., they’d probably just reject us,” Bankman-Fried told a podcaster in 2021. “But, I mean, no one doesn’t like research.”)The fund had made millions of dollars exploiting inefficiencies across cryptocurrency exchanges. (Ex-employees, even those otherwise critical of Bankman-Fried, have said this is true, though some have said Alameda then lost some of that money because of bad trades and mismanagement.) Bankman-Fried and his friends began considering starting their own exchange—what would become FTX.The way Bankman-Fried later described this decision reveals his attitude toward risk. He estimated there was an 80% chance the exchange would fail to attract enough customers. But he’s said one should always take a bet, even a long-shot one, if the expected value is positive, calling this stance “risk neutral.” But it actually meant he would take risks that to a normal person sound insane. “As an individual, to make a bet where it’s like, ‘I’m going to gamble my $10 billion and either get $20 billion or $0, with equal probability,’ would be madness,” Rob Wiblin, host of an effective-altruism podcast, said to Bankman-Fried in April. “But from an altruistic point of view, it’s not so crazy.”“Completely agree,” Bankman-Fried replied. He told another interviewer that he’d make a bet described as a chance of “51% you double the earth out somewhere else, 49% it all disappears.”Bankman-Fried and his friends jump-started FTX by having Alameda provide liquidity. It was a huge conflict of interest. Imagine if the top executives at an online poker site also entered its high-stakes tournaments—the temptation to cheat by peeking at other players’ cards would be huge. But Bankman-Fried assured customers that Alameda would play by the same rules as everyone else, and enough people came to trade that FTX took off. “Having Alameda provide liquidity on FTX early on was the right decision, because I think that helped make FTX a great product for users, even though it obviously ended up backfiring,” Bankman-Fried tells me.Part of FTX’s appeal was that it was mostly a derivatives exchange, which allowed customers to trade “on margin,” meaning with borrowed money. That’s a key to his defense. Bankman-Fried argues no one should be surprised that big traders on FTX, including Alameda, were borrowing from the exchange, and that his fund’s position just somehow got out of hand. “Everyone was borrowing and lending,” he says. “That’s been its calling card.” But FTX’s normal margin system, crypto traders tell me, would never have permitted anyone to accumulate a debt that looked like Alameda’s. When I ask if Alameda had to follow the same margin rules as other traders, he admits the fund did not. “There was more leeway,” he says.That wouldn’t have been so important had Alameda stuck to its original trading strategy of relatively low-risk arbitrage trades. But in 2020 and 2021, as Bankman-Fried became the face of FTX, amajor political donorand a favorite of Silicon Valley, Alameda faced more competition in that market-making business. It shifted its strategy to, essentially, gambling on shitcoins.As Caroline Ellison, then Alameda’s co-CEO, explained in aMarch 2021 post on Twitter: “The way to really make money is figure out when the market is going to go up and get balls long before that,” she wrote, adding that she’d learned the strategy from the classic market-manipulation memoir,Reminiscences of a Stock Operator.Her co-CEO said in another tweet that a profitable strategy was buying Dogecoin becauseElon Musktweeted about it.The reason they were bragging about what sounded like a high schooler’s tactics was that it was working better than anyone knew. When we spoke in February 2022, Bankman-Fried told me that Alameda had made $1 billion the previous year. He now says that was Alameda’s arbitrage profits. On top of that, its shitcoins gained tens of billions of dollars of value, at least on paper. “If you mark everything to market, I do believe at one point my net worth got to $100 billion,” Bankman-Fried says.Any trader would know this wasn’t nearly as good as it sounded. The large pile of tokens couldn’t be turned into cash without crashing the market. Much of it was even made of tokens that Bankman-Fried and his friends had spun up themselves, such as FTT, Serum or Maps—the official currency of a nonsensical crypto-meets-mapping app—or were closely affiliated with, like Solana. While Bankman-Fried acknowledges the pile was worth something less than $100 billion—maybe he’d mark it down a third, he says—he maintains that he could have extracted quite a lot of real money from his holdings.But he didn’t. Instead, Alameda borrowed billions of dollars from other crypto lenders—not FTX—and sunk them into more crypto bets. Publicly, Bankman-Fried presented himself as an ethical operator andcalled for regulationto rein in crypto’s worst excesses. But through his hedge fund, he’d actually become the market’s most degenerate gambler. I ask him why, if he really thought he could sell the tokens, he didn’t. “Why not, like, take some risk off?”“OK. In retrospect, absolutely. That would’ve been the right, like, unambiguously the right thing to do,” he says. “But also it was just, like, hilariously well-capitalized.”Near the peak of the great shitcoin boom, in April 2022, FTX hosted a lavish conference at a resort and casino in Nassau. It was Bankman-Fried’s coming out party. He got to share the stage with quarterback Tom Brady. Also there: former Prime Minister Tony Blair and ex-President Bill Clinton, who extended a fatherly hand when the young crypto executive seemed nervous. The author Michael Lewis, who’s working on a book about Bankman-Fried, praised him in a fawning interview onstage. “You’re breaking land speed records. And I don’t think people are really noticing what’s happened, just how dramatic the revolution has become,” Lewis said, asking when crypto would take over Wall Street.The next month, thecrypto crash began. It started when a popular set of coins called Terra and Luna collapsed, wiping out $60 billion. Terra and Luna were almost openly a Ponzi scheme, but some of the biggest crypto funds had invested in them with borrowed money and went bankrupt. This made the lenders who’d lent billions of dollars to Alameda nervous. They asked Alameda to repay the loans, with real money. It needed billions of dollars, fast, or it would go bust.There are two different versions of what happened next. Two people with knowledge of the matter told me that Ellison, by then the sole head of Alameda, had told her side of the story to her staff amid the crisis. Ellison said that she, Bankman-Fried and his two top lieutenants—Gary Wang and Nishad Singh—had discussed the shortfall. Instead of admitting Alameda’s failure, they decided to use FTX customer funds to cover it, according to the people. If that’s true, all four executives would’ve knowingly committed fraud. (Ellison, Wang and Singh didn’t respond to messages seeking comment.)When I put this to Bankman-Fried, he screws up his eyes, furrows his eyebrows, puts his hands in his hair and thinks for a few seconds.“So, it’s not how I remember what happened,” Bankman-Fried says. But he surprises me by acknowledging that there had been a meeting, post-Luna crash, where they debated what to do about Alameda’s debts. The way he tells it, he was packing for a trip to DC and “only kibitzing on parts of the discussion.” It didn’t seem like a crisis, he says. It was a matter of extending a bit more credit to a fund that already traded on margin and still had a pile of collateral worth way more than enough to cover the loan. (Although the pile of collateral was largely shitcoins.)“That was the point at which Alameda’s margin position on FTX got, well, it got more leveraged substantially,” he says. “Obviously, in retrospect, we should’ve just said no. I sort of didn’t realize then how large the position had gotten.”“You were all aware there was a chance this would not work,” I say.“That’s right,” he says. “But I thought that the risk was substantially smaller.”I try to imagine what he could’ve been thinking. If FTX had liquidated Alameda’s position, the fund would’ve gone bankrupt, and even if the exchange didn’t take direct losses, customers would’ve lost confidence in it. Bankman-Fried points out that the companies that lent money to Alameda might have failed, too, causing a hard-to-predict cascade of events.“Now let’s say you don’t margin call Alameda,” I posit. “Maybe you think there’s like a 70% chance everything will be OK, it’ll all work out?”“Yes, but also in the cases where it didn’t work out, I thought the downside was not nearly as high as it was,” he says. “I thought that there was the risk of a much smaller hole. I thought it was going to be manageable.”Bankman-Fried pulls out his laptop (an Acer Predator) and opens a spreadsheet to show what he meant. It’s similar to thebalance sheethe reportedly showed investors when he was seeking a last-minute bailout, which he says consolidated FTX and Alameda’s positions because by then the fund had defaulted on its debt. On one line—labeled “What I *thought*”—he lists $8.9 billion in debts and way more than enough money to pay them: $9 billion in liquid assets, $15.4 billion in “less liquid” assets and $3.2 billion in “illiquid” ones. He tells me this was more or less the position he was considering when he had the meeting with the other executives.“It looks naively to me like, you know, there’s still some significant liabilities out there, but, like, we should be able to cover it,” he says.“So what’s the problem, then?”Bankman-Fried points to another place on the spreadsheet, which he says shows the actual truth of the situation at the time of the meeting. This one shows similar numbers, but with $8 billion less liquid assets.“What’s the difference between these two rows here?” he asks.“You didn’t have $8 billion in cash that you thought you had,” I say.“That’s correct. Yes.”“You misplaced $8 billion?” I ask.“Misaccounted,” Bankman-Fried says, sounding almost proud of his explanation. Sometimes, he says, customers would wire money to Alameda Research instead of sending it directly to FTX. (Some banks were more willing to work with the hedge fund than the exchange, for some reason.) He claims that somehow, FTX’s internal accounting system double-counted this money, essentially crediting it to both the exchange and the fund.That still doesn’t explain why the money was gone. “Where did the $8 billion go?” I ask.To answer, Bankman-Fried creates a new tab on the spreadsheet and starts typing. He lists Alameda and FTX’s biggest cash flows. One of the biggest expenses is paying a net $2.5 billion toBinance, a rival, to buy out its investment in FTX. He also lists $250 million for real estate, $1.5 billion for expenses, $4 billion for venture capital investments, $1.5 billion for acquisitions and $1 billion labeled “fuckups.” Even accounting for both firms’ profits, and all the venture capital money raised by FTX, it tallies to negative $6.5 billion.Bankman-Fried is telling me that the billions of dollars customers wired to Alameda is gone simply because the companies spent way more than they made. He claims he paid so little attention to his expenses that he didn’t realize he was spending more than he was taking in. “I was real lazy about this mental math,” the former physics major says. He creates another column in his spreadsheet and types in much lower numbers to show what he thought he was spending at the time.It seems to me like he is, without saying it exactly, blaming his underlings for FTX’s failure, especially Ellison, the head of Alameda. The two had dated and lived together at times. She was part of Bankman-Fried’s Future Fund, which was supposed to distribute FTX and Alameda’s earnings to effective-altruist-approved causes. It seems unlikely she would’ve blown billions of dollars without asking. “People might take, like, the TLDR as, like, it was my ex-girlfriend’s fault,” I tell him. “That is sort of what you’re saying.”“I think the biggest failure was that it wasn’t entirely clear whose fault it was,” he says.Bankman-Fried tells me he has to make a call. After a while, the sun goes down and I’m hungry. I’m allowed to join a group of Bankman-Fried’s supporters for dinner, as long as I don’t mention their names.With the curtains drawn, the living room looks considerably less grand than it does in pictures. I’ve been told that FTX employees gathered here amid the crisis, while Bankman-Fried worked in another apartment. Addled by stress and sleep deprivation, they wept and hugged one another. Most didn’t say goodbye as they left the island, one by one. Many flew back to their childhood homes to be with their parents.The supporters at the dinner tell me they feel like the press has been unfair. They say that Bankman-Fried and his friends weren’t the polyamorous partiers the tabloids have portrayed and that they did little besides work. Earlier in the week, a Bahamian man who’d served as FTX’s round-the-clock chauffeur and gofer also told me the reports weren’t true. “People make it seem like this bigWolf of Wall Streetthing,” he said. “Bro, it was a bunch of nerds.”Illustration: Maxime Mouysset for Bloomberg BusinessweekBy the time I finish my plate of off-the-record rice and beans, Bankman-Fried is free again. We return to the study. He’s barefoot now, having balled up his gym socks and stuffed them behind a couch cushion. He lies on the couch, his computer on his lap. The light from the screen casts shadows of his curls on his forehead.I notice a skin-colored patch on his arm. He tells me it’s a transdermal antidepressant, selegiline. I ask if he’s using it as a performance enhancer or to treat depression. “Nothing’s binary,” he says. “But I’ve been borderline depressed for my whole life.” He adds that he also sometimes takes Adderall—“10 milligrams at a time, a few times a day”—as did some of his colleagues, but that talk of drug use is overblown. “I don’t think that was the problem,” he says.I tell Bankman-Fried my theory about his motivation, sidestepping the question of whether he misappropriated customer funds. Bankman-Fried denies that his world-saving goals made him willing to take giant gambles. As we talk more, it seems like he’s saying he made some kind of bet but hadn’t calculated the expected value properly.“I was comfortable taking the risk that, like, I may end up kind of falling flat,” he says, staring at his computer screen, where he had pulled up a game and was leading an army of cartoon knights and fairies into battle. “But what actually happened was disastrously bad and, like, no significant chance of that happening would’ve made sense to risk, and that was a fuckup. Like, that was a mass miscalculation in downside.”I read Bankman-Fried a post by Will MacAskill, one of the founders of the effective-altruism movement. He recruited Bankman-Fried into it when he was a junior at MIT and this year had joined the board of Bankman-Fried’s Future Fund. On Nov. 11,MacAskill wrote on Twitterthat Bankman-Fried had betrayed him. “For years, the EA community has emphasized the importance of integrity, honesty and the respect of common-sense moral constraints,” MacAskill wrote. “If customer funds were misused, then Sam did not listen; he must have thought he was above such considerations.”Bankman-Fried closes his eyes and pushes his toes against one arm of the couch, clenching the other arm with his hands. “That’s not how I view what happened,” he says. “But I did fuck up. I think really what I want to say is, like, I’m really fucking sorry. By far the worst thing about this is that it will tarnish the reputation of people who are dedicated to doing nothing but what they thought was best for the world.” Bankman-Fried trails off. On his computer screen, his army casts spells and swings swords unattended.I ask what he’d say to people who are comparing him to the most famous Ponzi schemer of recent times. “Bernie Madoff also said he had good intentions and gave a lot to charity,” I say.“FTX was a legitimate, profitable, thriving business. And I fucked up by, like, allowing a margin position to get too big on it. One that endangered the platform. It was a completely unnecessary and unforced error, which like maybe I got super unlucky on, but, like, that was my bad.”“It fucking sucks,” he adds. “But it wasn’t inherent to what the business was. It was just a fuckup. A huge fuckup.”To me, it doesn’t really seem like a fuckup. Even if I believe that he misplaced and accidentally spent $8 billion, he’s already told me that Alameda had been allowed to violate FTX’s margin rules. This wasn’t some little technical thing. He was so proud of FTX’s margining system that he’d been lobbying regulators for it to be used on US exchanges instead of traditional safeguards. In May, Bankman-Fried himself said on Twitter that exchanges should never extend credit to a fund and put other customers’ assets at risk. He wrote that the idea an exchange would even have that discretion was “scary.” I read him the tweets and ask: “Isn’t that, like, exactly what you did, right around that time?”“Yeah, I guess that’s kind of fair,” he says. Then he seems to claim that this was evidence the rules he was lobbying for were a good idea. “I think this is one of the things that would have stopped.”“You had a rule on your platform. You didn’t follow it,” I say.By now it’s past midnight, and—operating without the benefit of any prescription stimulants—I’m worn out. I ask Bankman-Fried if I can see the apartment’s deck before I leave. Outside, crickets chirp as we stand by the pool. The marina is dark, lit only by the spotlights of yachts. As I say goodbye, Bankman-Fried bites into a burger bun and starts talking about potential bailouts with one of his supporters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9964100411,"gmtCreate":1670092530533,"gmtModify":1676538301094,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9964100411","repostId":"1174822065","repostType":4,"repost":{"id":"1174822065","pubTimestamp":1670022856,"share":"https://www.laohu8.com/m/news/1174822065?lang=&edition=full","pubTime":"2022-12-03 07:14","market":"sg","language":"en","title":"SGX Weekly Review: Singapore Airlines, Savings Rates for Local Banks and SATS’ Acquisition Funding Plan","url":"https://stock-news.laohu8.com/highlight/detail?id=1174822065","media":"The Smart Investor","summary":"Welcome to this week’s edition of top stock market highlights.Singapore Airlines Limited (SGX: C6L)S","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/c3d9e7d5cf0297dab87d1e29b5e962ce\" tg-width=\"800\" tg-height=\"533\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Welcome to this week’s edition of top stock market highlights.</p><h2><b>Singapore Airlines Limited (SGX: C6L)</b></h2><p>Singapore Airlines Limited, or SIA, has agreed with Tata Sons to merge Air India and Vistara.</p><p>SIA will inject around S$360 million into Air India as part of this deal, giving the former a 25.1% stake in the latter and a significant presence in key market segments.</p><p>Currently, SIA and Tata Sons hold a 49% and 51% stake in Vistara, respectively, while Tata Sons wholly owns Air India.</p><p>This merger is projected to complete by March 2024, subject to regulatory approvals, and will be fully funded by SIA’s internal cash resources.</p><p>Both SIA and Tata Sons will participate in any further capital injections needed for the enlarged Air India group, with a capital injection of up to S$880 million required after the merger is completed.</p><p>This transaction will benefit SIA by boosting its presence in India, thereby strengthening its multi-hub strategy, and also provide it with opportunities to expand in a fast-growing aviation market.</p><p>For context, India is the fastest-growing economy in the world and will become the third-largest nation in the globe by 2027. It is also the third-largest aviation market.</p><p>Demand for air travel is projected to more than double in the country in the next decade, and with low international seats per capita, India offers the promise of rapid growth in the years to come.</p><p>Both Vistara and Air India will complement each other’s capabilities and together, the merged entity will have a total of 218 aircraft serving 38 international and 52 domestic destinations.</p><h2><b>Banks’ saving account rates</b></h2><p>The local banks have continued to up their savings account interest rates in a bid to attract more deposits.</p><p>The latest bank to increase its maximum bonus interest rate is<b>United Overseas Bank Ltd</b>(SGX: U11), or UOB.</p><p>UOB more than doubled its maximum bonus interest rate on its One Account from 3.6% to 7.8%.</p><p>However, some conditions do apply.</p><p>This eye-popping rate is only applicable for balances between S$75,000 and S$100,000 where customers need to spend at least S$500 a month using an eligible UOB card as well as credit their salary of at least S$1,600 via GIRO.</p><p><b>OCBC Ltd</b>(SGX: O39) is not far behind with a 7.65% maximum bonus interest rate on its bank account.</p><p>It pays 4.65% on the first S$100,000 in a customer’s account, on the condition that the customer credits a salary of S$1,800 or more through GIRO, increases their account balance by at least S$500 a month, and spends S$500 on certain credit cards.</p><p>Customers can only hit the maximum tier of 7.65% if they also invest and buy insurance through the lender.</p><p><b>DBS Group</b>(SGX: D05) is also offering bonus rates on its flagship Multiplier Account but at a lower maximum of 4.1%.</p><p>This rate applies to the first S$100,000 in the account whereby the customer needs to credit an income stream and also transact in three categories with S$30,000 or more in eligible transactions.</p><h2><b>SATS (SGX: S58)</b></h2><p>SATS has finally unveiled the funding plan for itsmega acquisitionof Worldwide Flight Services (WFS).</p><p>Announced in late September, the airline ground handler provided few details back then on how the deal would be financed.</p><p>SATS share price also tumbled to a two-year low of S$3.08 when the announcement came out.</p><p>Since then, it has declined by another 10.7% to close at S$2.75.</p><p>The funding plan for the total acquisition cost of S$1.8 billion has three distinct sections comprising debt, equity and internal cash.</p><p>The debt portion involves tapping a S$700 three-year Euro-denominated term loan with an all-in cost of between 4% to 4.5% per annum.</p><p>For the equity funding raising (EFR) portion, SATS will launch a rights issue to raise approximately S$800 million.</p><p>No further details on the rights issue price or ratio have been announced, and the rights issue is expected to launch in the first quarter of 2023.</p><p>The remainder of the S$320 million will be financed through SATS’ existing cash balance.</p><p>Shareholders will be invited to attend an extraordinary general meeting to approve this proposed acquisition.</p><p>A circular will be sent in due course detailing the merits and characteristics of the deal to eligible shareholders.</p><p>Investors will have to wait till early next year to learn more details on the EFR portion, but the good news is thatTemasek Holdingshas already indicated its intention to subscribe for its pro-rata entitlement of the rights issue.</p></body></html>","source":"lsy1602567310727","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>SGX Weekly Review: Singapore Airlines, Savings Rates for Local Banks and SATS’ Acquisition Funding Plan</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; 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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\">\nSGX Weekly Review: Singapore Airlines, Savings Rates for Local Banks and SATS’ Acquisition Funding Plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-03 07:14 GMT+8 <a href=https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapore-airlines-savings-rates-for-local-banks-and-sats-acquisition-funding-plan/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Welcome to this week’s edition of top stock market highlights.Singapore Airlines Limited (SGX: C6L)Singapore Airlines Limited, or SIA, has agreed with Tata Sons to merge Air India and Vistara.SIA will...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapore-airlines-savings-rates-for-local-banks-and-sats-acquisition-funding-plan/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C6L.SI":"新加坡航空公司","S58.SI":"新翔集团有限公司","D05.SI":"星展集团控股","O39.SI":"华侨银行"},"source_url":"https://thesmartinvestor.com.sg/top-stock-market-highlights-of-the-week-singapore-airlines-savings-rates-for-local-banks-and-sats-acquisition-funding-plan/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174822065","content_text":"Welcome to this week’s edition of top stock market highlights.Singapore Airlines Limited (SGX: C6L)Singapore Airlines Limited, or SIA, has agreed with Tata Sons to merge Air India and Vistara.SIA will inject around S$360 million into Air India as part of this deal, giving the former a 25.1% stake in the latter and a significant presence in key market segments.Currently, SIA and Tata Sons hold a 49% and 51% stake in Vistara, respectively, while Tata Sons wholly owns Air India.This merger is projected to complete by March 2024, subject to regulatory approvals, and will be fully funded by SIA’s internal cash resources.Both SIA and Tata Sons will participate in any further capital injections needed for the enlarged Air India group, with a capital injection of up to S$880 million required after the merger is completed.This transaction will benefit SIA by boosting its presence in India, thereby strengthening its multi-hub strategy, and also provide it with opportunities to expand in a fast-growing aviation market.For context, India is the fastest-growing economy in the world and will become the third-largest nation in the globe by 2027. It is also the third-largest aviation market.Demand for air travel is projected to more than double in the country in the next decade, and with low international seats per capita, India offers the promise of rapid growth in the years to come.Both Vistara and Air India will complement each other’s capabilities and together, the merged entity will have a total of 218 aircraft serving 38 international and 52 domestic destinations.Banks’ saving account ratesThe local banks have continued to up their savings account interest rates in a bid to attract more deposits.The latest bank to increase its maximum bonus interest rate isUnited Overseas Bank Ltd(SGX: U11), or UOB.UOB more than doubled its maximum bonus interest rate on its One Account from 3.6% to 7.8%.However, some conditions do apply.This eye-popping rate is only applicable for balances between S$75,000 and S$100,000 where customers need to spend at least S$500 a month using an eligible UOB card as well as credit their salary of at least S$1,600 via GIRO.OCBC Ltd(SGX: O39) is not far behind with a 7.65% maximum bonus interest rate on its bank account.It pays 4.65% on the first S$100,000 in a customer’s account, on the condition that the customer credits a salary of S$1,800 or more through GIRO, increases their account balance by at least S$500 a month, and spends S$500 on certain credit cards.Customers can only hit the maximum tier of 7.65% if they also invest and buy insurance through the lender.DBS Group(SGX: D05) is also offering bonus rates on its flagship Multiplier Account but at a lower maximum of 4.1%.This rate applies to the first S$100,000 in the account whereby the customer needs to credit an income stream and also transact in three categories with S$30,000 or more in eligible transactions.SATS (SGX: S58)SATS has finally unveiled the funding plan for itsmega acquisitionof Worldwide Flight Services (WFS).Announced in late September, the airline ground handler provided few details back then on how the deal would be financed.SATS share price also tumbled to a two-year low of S$3.08 when the announcement came out.Since then, it has declined by another 10.7% to close at S$2.75.The funding plan for the total acquisition cost of S$1.8 billion has three distinct sections comprising debt, equity and internal cash.The debt portion involves tapping a S$700 three-year Euro-denominated term loan with an all-in cost of between 4% to 4.5% per annum.For the equity funding raising (EFR) portion, SATS will launch a rights issue to raise approximately S$800 million.No further details on the rights issue price or ratio have been announced, and the rights issue is expected to launch in the first quarter of 2023.The remainder of the S$320 million will be financed through SATS’ existing cash balance.Shareholders will be invited to attend an extraordinary general meeting to approve this proposed acquisition.A circular will be sent in due course detailing the merits and characteristics of the deal to eligible shareholders.Investors will have to wait till early next year to learn more details on the EFR portion, but the good news is thatTemasek Holdingshas already indicated its intention to subscribe for its pro-rata entitlement of the rights issue.","news_type":1},"isVote":1,"tweetType":1,"viewCount":184,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965261127,"gmtCreate":1669961743970,"gmtModify":1676538279121,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9965261127","repostId":"2288464628","repostType":4,"repost":{"id":"2288464628","pubTimestamp":1669948154,"share":"https://www.laohu8.com/m/news/2288464628?lang=&edition=full","pubTime":"2022-12-02 10:29","market":"us","language":"en","title":"TSMC Vs. Intel: The New King Of The Hill","url":"https://stock-news.laohu8.com/highlight/detail?id=2288464628","media":"seekingalpha","summary":"JasonDoiyInvestment ThesisAlthough I have discussed both Intel (NASDAQ:INTC) and (to lesser extent) ","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/524227e2de3f998b2c6616fdd17e1cac\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>JasonDoiy</p><h2>Investment Thesis</h2><p>Although I have discussed both Intel (NASDAQ:INTC) and (to lesser extent) TSMC (NYSE:TSM) previously, it’s been a while since I have compared both. In line with the overall market, both stocks have declined quite substantially from their highs. For TSMC this means, combined with its continued growth, that it has caught up to its previously quite elevated valuation. For Intel, even the roughly 50% drop still hasn’t been enough to fully offset the substantially decreased earnings estimates as revenue has fallen and investments have decreased.</p><p>While it may be tempting, as Buffett’s Berkshire Hathaway (BRK.A)(BRK.B) has done, to conclude that TSMC remains the top dog of semiconductor manufacturing, I would nevertheless argue that Intel’s prospects going forward are just as bright, as substantial leverage should become visible once the current investments start to pay off. Meanwhile, TSMC is visibly struggling with its latest nodes.</p><p>So while a case for both companies could be made at their current valuation, I’d buy Intel over TSMC as the new king of the hill for the next decade.</p><h2>Competitive landscape</h2><p>This article has been inspired in part by a similar recent comparison by another contributor. While the author laid out many of the most relevant facts, what I differ in is in the interpretation of those. To wit, as has been a consistent theme throughout my coverage of both companies, the topic of process leadership.</p><p>While it is true that 10nm had been delayed for many years, ultimately this is not relevant anymore as Moore’s Law has continued to shift the goalposts. As such, 10nm is just as relevant to this discussion as who won World War II.</p><p>So when it comes to who is best positioned for semiconductor leadership going forward, my analysis has indicated it is Intel, not TSMC. The reason for this is simply that Intel has its 2nm node (called 20A, followed by 18A six months later) lined up for production to start in the first half of 2024, which compares to TSMC’s equivalent node (called N2) which is scheduled for the second half of 2025, a non-insignificant 12- to 18-month lag compared to Intel.</p><p>Moreover, Intel said in 2019 it was targeting a 2x shrink, while TSMC’s official disclosure is for a shrink of “>1.1x”, which suggests Intel’s 18A could outperform TSMC’s N2 despite being a year earlier. Indeed, my current <i>estimate</i> is that 18A will have an over 40% higher density (half a node) than N2.</p><p>Now, as always, some people might be skeptical about this, so let’s recap some of the reasons why this prognosis should be reliable.</p><p>First, even in the face of its many delays, Intel has actually maintained its status as the industry’s innovation powerhouse. The main issue was not with the technology itself, but that it contained too many defects to go into production economically. One of the reasons for this was that Intel was not ready for EUV lithography (because the original 10nm schedule was years ahead of when EUV was eventually ready). In addition, Intel has parallel development teams. So while the Intel 4/3 team stumbled upon a hiccup, the Intel 20/18A team just continued to move forward.</p><p>In addition, Intel will introduce two key brand-new technologies in 20A, namely RibbonFET (gate-all-around FET) and PowerVia (backside power delivery network). Investors can be assured that these technologies have not just been put on the roadmap a few quarters ago, since in reality such ground-breaking innovations usually take <i>at least</i> a decade to go from research to production. As of October 2022, Intel stated that these nodes remain on track, with the first full-blown test chips (both internal and from a foundry customer) now in the fab.</p><p>Lastly, there is one more reason that Intel’s current nodes such as Intel 7 are irrelevant, which is that onboarding new foundry customers literally takes years, as that is the time it takes for the development of new chips. Note that IFS (Intel Foundry Services) was only created in early 2021, which puts the earliest volume production for those initial customers likely in 2024-25. But that is exactly the timeframe when 20/18A will become available, which proves the point that earlier nodes are hardly relevant anymore; new potential foundry customers will be looking at Intel's offerings for the 2025+ timeframe.</p><p>As a side note, Intel mainly expects foundry customers to adopt 18A, as 20A will be more of an internal, lower-volume node like Intel 4, as part of Intel’s new Tick-Tock process development methodology.</p><p>Of course, some customers will likely have more or less stringent requirements with regards to the milestones they would want to see before increasing their adoption of Intel’s foundry services. For example, if a new customer like MediaTek, which Intel announced is adopting Intel 16 initially, would wait until its first chips are in the market before committing to new (perhaps more leading edge) projects, then that would take many years. Perhaps closer to reality, though, as Pat Gelsinger has explained, the various test chips on 18A that will come out of the fab over the coming quarters will serve as proof points for potential customers as they are evaluating where to get their future chips manufactured.</p><blockquote>Pat Gelsinger: Yes. Thank you. And on 20A and 18A, they go to RibbonFET, as you say. And Intel has driven every major transistor, right, in the volume production for the last 35 years. So the idea that we're the ones who are going to drive this major new transistor structure into production is something that we're pretty committed to be a driver for 20A, as you said, on track, on schedule. We expect 20A will primarily be an internal node, not one that we have a lot of external foundry customers for the external foundry chipset or tape-outs are largely associated with 18A.</blockquote><blockquote>And a very typical process for a foundry customer will be "give me a test chip of my circuits on your process." and that's exactly what we tape out. The first one this quarter. We'll have several more in the pipeline. So now we're taping out not only our test chips for 18A, but our foundry customer test chips for 18A, and that's a pretty critical milestone when they see the results of the silicon for them making a volume decision for a foundry customer.</blockquote><blockquote>So we're exactly on the time line that I described earlier for those tape-outs and those decisions. So as they start to see the silicon results, which we think are going to be very promising we think that will be a key step to them making major foundry decisions. And overall, this just affirms our five nodes in four years. We're making the investments. We're seeing good progress to get back to process technology leadership, which for Intel is a tide that raises all boats in the company. It makes our products better. It establishes our new business areas, positions us in a very profound way for foundry</blockquote><h2>Conclusion</h2><p>Intel’s 18A node represents the first possible interception point for potential foundry customers to become an early adopter of a new Intel node since the IFS business was created, and therefore this node is pretty much the only sensible node to use as comparison to evaluate process leadership. Using any other node for this purpose would be a straw man at best.</p><p>So in that regard, based on density projections disclosed by Intel and TSMC, my current estimate is that 18A will be half a node denser than TSMC’s N2, while also being a full year earlier to market. Unless any changes in the schedules were to occur, this hence leaves no question of who will be able to claim process leadership going forward: not TSMC, but Intel.</p><p>One example of how this <i>could</i> play out in the market is if Qualcomm (QCOM) would launch an 18A SoC in 2025, whereas Apple’s 2025 products will have to use some variant of TSMC’s N3, with an N2 iPhone only becoming possible in 2026.</p><h2>Valuation</h2><p>Even after the substantial rally since the Berkshire Hathaway investment in TSMC became public, TSMC is currently still valued at just a double-digit P/E, with the stock price down significantly. Clearly, in a more bullish market, TSMC could easily sport a valuation (multiple) in the 20s or even 30s, even before considering any future growth. It is projected that the foundry market will continue to grow at a decent clip (Intel’s projection at Investor Meeting 2022 was that it would grow from $100B to $170B or so by 2030). In other words, even if TSMC loses some market share to newcomer Intel, unless IFS becomes more successful than any single person (including Pat Gelsinger) currently anticipates, then TSMC is unlikely to deliver negative alpha going forward.</p><p>In contrast, Intel’s forward P/E of nearly 15x is actually a bit more expensive than TSMC. However, this comes with the caveat that Intel has lost a substantial amount of leverage due to the current decline in revenue and the ongoing investments to catch up. However, these investments are likely to pay off given the trends with regards to process leadership as discussed above. This means Intel’s earnings could multiple once it starts to grow revenue again.</p><p>For example, management openly stated during the last earnings call that it aspires for Intel to deliver industry-leading metrics such as gross margin (60%+) and operating margin (40%+). Clearly, Intel is currently delivering far below those benchmarks, leaving ample upside if it succeeds in what Pat Gelsinger has previously called the greatest turnaround ever.</p><h2>Investor Takeaway</h2><p>Despite their similar (currently quite low) P/E valuations, Intel and TSMC are two companies with two quite different profiles in terms of several metrics such as gross margin, growth, and operating margin.</p><p>At first sight, the investment case for TSMC sounds reasonable enough: it is the foundry industry leader (both in technology and market share), and one may be tempted to fall into a false sense of security by assuming this will remain the case going forward. Hence, continued (industry) growth should make for a safe investment.</p><p>While I do not necessarily disagree with this reasoning, the more alluring investment going forward would actually be Intel. First and foremost, given the deflated gross and operating margins, Intel is arguably the company with the greatest opportunity to multiply its earnings (and with that its stock price). Secondly, as discussed Intel is currently unambiguously in pole position to take over process leadership from TSMC in 2025. Once this happens, because TSMC’s N2 is unlikely to fully catch up to 18A, Intel will then likely (comfortably) hold this position at least for the rest of the decade.</p><p>Since 18A is also the first node that lines up with the development cycle of chips, after onboarding the first customers in 2021, this means IFS will enjoy a leadership position out of the gate, which bodes well for this business’ prospects, which will come at the detriment of either Samsung or TSMC as its only competitors at the leading edge.</p><p>Ergo, Intel is (will be) the new king of the hill.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TSMC Vs. Intel: The New King Of The Hill</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\">\nTSMC Vs. Intel: The New King Of The Hill\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-02 10:29 GMT+8 <a href=https://seekingalpha.com/article/4561623-tsmc-vs-intel-the-new-king-of-the-hill><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JasonDoiyInvestment ThesisAlthough I have discussed both Intel (NASDAQ:INTC) and (to lesser extent) TSMC (NYSE:TSM) previously, it’s been a while since I have compared both. In line with the overall ...</p>\n\n<a href=\"https://seekingalpha.com/article/4561623-tsmc-vs-intel-the-new-king-of-the-hill\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电","INTC":"英特尔"},"source_url":"https://seekingalpha.com/article/4561623-tsmc-vs-intel-the-new-king-of-the-hill","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2288464628","content_text":"JasonDoiyInvestment ThesisAlthough I have discussed both Intel (NASDAQ:INTC) and (to lesser extent) TSMC (NYSE:TSM) previously, it’s been a while since I have compared both. In line with the overall market, both stocks have declined quite substantially from their highs. For TSMC this means, combined with its continued growth, that it has caught up to its previously quite elevated valuation. For Intel, even the roughly 50% drop still hasn’t been enough to fully offset the substantially decreased earnings estimates as revenue has fallen and investments have decreased.While it may be tempting, as Buffett’s Berkshire Hathaway (BRK.A)(BRK.B) has done, to conclude that TSMC remains the top dog of semiconductor manufacturing, I would nevertheless argue that Intel’s prospects going forward are just as bright, as substantial leverage should become visible once the current investments start to pay off. Meanwhile, TSMC is visibly struggling with its latest nodes.So while a case for both companies could be made at their current valuation, I’d buy Intel over TSMC as the new king of the hill for the next decade.Competitive landscapeThis article has been inspired in part by a similar recent comparison by another contributor. While the author laid out many of the most relevant facts, what I differ in is in the interpretation of those. To wit, as has been a consistent theme throughout my coverage of both companies, the topic of process leadership.While it is true that 10nm had been delayed for many years, ultimately this is not relevant anymore as Moore’s Law has continued to shift the goalposts. As such, 10nm is just as relevant to this discussion as who won World War II.So when it comes to who is best positioned for semiconductor leadership going forward, my analysis has indicated it is Intel, not TSMC. The reason for this is simply that Intel has its 2nm node (called 20A, followed by 18A six months later) lined up for production to start in the first half of 2024, which compares to TSMC’s equivalent node (called N2) which is scheduled for the second half of 2025, a non-insignificant 12- to 18-month lag compared to Intel.Moreover, Intel said in 2019 it was targeting a 2x shrink, while TSMC’s official disclosure is for a shrink of “>1.1x”, which suggests Intel’s 18A could outperform TSMC’s N2 despite being a year earlier. Indeed, my current estimate is that 18A will have an over 40% higher density (half a node) than N2.Now, as always, some people might be skeptical about this, so let’s recap some of the reasons why this prognosis should be reliable.First, even in the face of its many delays, Intel has actually maintained its status as the industry’s innovation powerhouse. The main issue was not with the technology itself, but that it contained too many defects to go into production economically. One of the reasons for this was that Intel was not ready for EUV lithography (because the original 10nm schedule was years ahead of when EUV was eventually ready). In addition, Intel has parallel development teams. So while the Intel 4/3 team stumbled upon a hiccup, the Intel 20/18A team just continued to move forward.In addition, Intel will introduce two key brand-new technologies in 20A, namely RibbonFET (gate-all-around FET) and PowerVia (backside power delivery network). Investors can be assured that these technologies have not just been put on the roadmap a few quarters ago, since in reality such ground-breaking innovations usually take at least a decade to go from research to production. As of October 2022, Intel stated that these nodes remain on track, with the first full-blown test chips (both internal and from a foundry customer) now in the fab.Lastly, there is one more reason that Intel’s current nodes such as Intel 7 are irrelevant, which is that onboarding new foundry customers literally takes years, as that is the time it takes for the development of new chips. Note that IFS (Intel Foundry Services) was only created in early 2021, which puts the earliest volume production for those initial customers likely in 2024-25. But that is exactly the timeframe when 20/18A will become available, which proves the point that earlier nodes are hardly relevant anymore; new potential foundry customers will be looking at Intel's offerings for the 2025+ timeframe.As a side note, Intel mainly expects foundry customers to adopt 18A, as 20A will be more of an internal, lower-volume node like Intel 4, as part of Intel’s new Tick-Tock process development methodology.Of course, some customers will likely have more or less stringent requirements with regards to the milestones they would want to see before increasing their adoption of Intel’s foundry services. For example, if a new customer like MediaTek, which Intel announced is adopting Intel 16 initially, would wait until its first chips are in the market before committing to new (perhaps more leading edge) projects, then that would take many years. Perhaps closer to reality, though, as Pat Gelsinger has explained, the various test chips on 18A that will come out of the fab over the coming quarters will serve as proof points for potential customers as they are evaluating where to get their future chips manufactured.Pat Gelsinger: Yes. Thank you. And on 20A and 18A, they go to RibbonFET, as you say. And Intel has driven every major transistor, right, in the volume production for the last 35 years. So the idea that we're the ones who are going to drive this major new transistor structure into production is something that we're pretty committed to be a driver for 20A, as you said, on track, on schedule. We expect 20A will primarily be an internal node, not one that we have a lot of external foundry customers for the external foundry chipset or tape-outs are largely associated with 18A.And a very typical process for a foundry customer will be \"give me a test chip of my circuits on your process.\" and that's exactly what we tape out. The first one this quarter. We'll have several more in the pipeline. So now we're taping out not only our test chips for 18A, but our foundry customer test chips for 18A, and that's a pretty critical milestone when they see the results of the silicon for them making a volume decision for a foundry customer.So we're exactly on the time line that I described earlier for those tape-outs and those decisions. So as they start to see the silicon results, which we think are going to be very promising we think that will be a key step to them making major foundry decisions. And overall, this just affirms our five nodes in four years. We're making the investments. We're seeing good progress to get back to process technology leadership, which for Intel is a tide that raises all boats in the company. It makes our products better. It establishes our new business areas, positions us in a very profound way for foundryConclusionIntel’s 18A node represents the first possible interception point for potential foundry customers to become an early adopter of a new Intel node since the IFS business was created, and therefore this node is pretty much the only sensible node to use as comparison to evaluate process leadership. Using any other node for this purpose would be a straw man at best.So in that regard, based on density projections disclosed by Intel and TSMC, my current estimate is that 18A will be half a node denser than TSMC’s N2, while also being a full year earlier to market. Unless any changes in the schedules were to occur, this hence leaves no question of who will be able to claim process leadership going forward: not TSMC, but Intel.One example of how this could play out in the market is if Qualcomm (QCOM) would launch an 18A SoC in 2025, whereas Apple’s 2025 products will have to use some variant of TSMC’s N3, with an N2 iPhone only becoming possible in 2026.ValuationEven after the substantial rally since the Berkshire Hathaway investment in TSMC became public, TSMC is currently still valued at just a double-digit P/E, with the stock price down significantly. Clearly, in a more bullish market, TSMC could easily sport a valuation (multiple) in the 20s or even 30s, even before considering any future growth. It is projected that the foundry market will continue to grow at a decent clip (Intel’s projection at Investor Meeting 2022 was that it would grow from $100B to $170B or so by 2030). In other words, even if TSMC loses some market share to newcomer Intel, unless IFS becomes more successful than any single person (including Pat Gelsinger) currently anticipates, then TSMC is unlikely to deliver negative alpha going forward.In contrast, Intel’s forward P/E of nearly 15x is actually a bit more expensive than TSMC. However, this comes with the caveat that Intel has lost a substantial amount of leverage due to the current decline in revenue and the ongoing investments to catch up. However, these investments are likely to pay off given the trends with regards to process leadership as discussed above. This means Intel’s earnings could multiple once it starts to grow revenue again.For example, management openly stated during the last earnings call that it aspires for Intel to deliver industry-leading metrics such as gross margin (60%+) and operating margin (40%+). Clearly, Intel is currently delivering far below those benchmarks, leaving ample upside if it succeeds in what Pat Gelsinger has previously called the greatest turnaround ever.Investor TakeawayDespite their similar (currently quite low) P/E valuations, Intel and TSMC are two companies with two quite different profiles in terms of several metrics such as gross margin, growth, and operating margin.At first sight, the investment case for TSMC sounds reasonable enough: it is the foundry industry leader (both in technology and market share), and one may be tempted to fall into a false sense of security by assuming this will remain the case going forward. Hence, continued (industry) growth should make for a safe investment.While I do not necessarily disagree with this reasoning, the more alluring investment going forward would actually be Intel. First and foremost, given the deflated gross and operating margins, Intel is arguably the company with the greatest opportunity to multiply its earnings (and with that its stock price). Secondly, as discussed Intel is currently unambiguously in pole position to take over process leadership from TSMC in 2025. Once this happens, because TSMC’s N2 is unlikely to fully catch up to 18A, Intel will then likely (comfortably) hold this position at least for the rest of the decade.Since 18A is also the first node that lines up with the development cycle of chips, after onboarding the first customers in 2021, this means IFS will enjoy a leadership position out of the gate, which bodes well for this business’ prospects, which will come at the detriment of either Samsung or TSMC as its only competitors at the leading edge.Ergo, Intel is (will be) the new king of the hill.","news_type":1},"isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965173632,"gmtCreate":1669923224826,"gmtModify":1676538270292,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965173632","repostId":"1163897561","repostType":4,"repost":{"id":"1163897561","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":1669905045,"share":"https://www.laohu8.com/m/news/1163897561?lang=&edition=full","pubTime":"2022-12-01 22:30","market":"us","language":"en","title":"Stocks Open Higher to Start December As Traders Cheer Data Pointing to Easing Inflation","url":"https://stock-news.laohu8.com/highlight/detail?id=1163897561","media":"Tiger Newspress","summary":"Stock traded up slightly Thursday after some inflation data closely watched by the Federal Reserve c","content":"<html><head></head><body><p>Stock traded up slightly Thursday after some inflation data closely watched by the Federal Reserve came in cooler than expected.</p><p>The Dow Jones Industrial Average traded 14 points, or 0.04%, higher. The S&P 500 gained 0.3%, while the Nasdaq Composite was near flat.</p><p>Stocks gained following the release of the October Core Personal Consumption Expenditures Index, a closely watched gauge of spending. October data showed the index rose 0.2%, below the consensus estimate of 0.3% collected from economists by Dow Jones. The 10-year Treasury yield decreased after the report.</p><p>The moves followed a sharp rally Wednesday, with the Nasdaq Composite and the S&P snapping three-day losing streaks after Powell appeared to confirm a slowdown in the central bank’s tightening — a question that’s lingered in recent weeks. The Dow jumped 737.24 points, or 2.2%, on Wednesday, while the tech-heavy Nasdaq Composite and S&P 500 surged 4.4% and 3.1%, respectively.</p><p>“Whether intentional or not, Powell sent a message that, in light of the tightening that’s already been done, he’s now more focused on the growth outlook and the employment picture than he is on bringing down inflation to 2%,” said Chris Senyek, chief investment strategist at Wolfe Research.</p><p>Wednesday also marked the end of a winning month for the major averages. The Nasdaq rose 4.37% — its second positive month in a row for the first time since a three-month streak ending December 2021. The S&P 500 and Dow rose 5.38% and 5.67%, respectively, to finish their second month of gains for the first time since August 2021.</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>Stocks Open Higher to Start December As Traders Cheer Data Pointing to Easing Inflation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Open Higher to Start December As Traders Cheer Data Pointing to Easing Inflation\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-12-01 22:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Stock traded up slightly Thursday after some inflation data closely watched by the Federal Reserve came in cooler than expected.</p><p>The Dow Jones Industrial Average traded 14 points, or 0.04%, higher. The S&P 500 gained 0.3%, while the Nasdaq Composite was near flat.</p><p>Stocks gained following the release of the October Core Personal Consumption Expenditures Index, a closely watched gauge of spending. October data showed the index rose 0.2%, below the consensus estimate of 0.3% collected from economists by Dow Jones. The 10-year Treasury yield decreased after the report.</p><p>The moves followed a sharp rally Wednesday, with the Nasdaq Composite and the S&P snapping three-day losing streaks after Powell appeared to confirm a slowdown in the central bank’s tightening — a question that’s lingered in recent weeks. The Dow jumped 737.24 points, or 2.2%, on Wednesday, while the tech-heavy Nasdaq Composite and S&P 500 surged 4.4% and 3.1%, respectively.</p><p>“Whether intentional or not, Powell sent a message that, in light of the tightening that’s already been done, he’s now more focused on the growth outlook and the employment picture than he is on bringing down inflation to 2%,” said Chris Senyek, chief investment strategist at Wolfe Research.</p><p>Wednesday also marked the end of a winning month for the major averages. The Nasdaq rose 4.37% — its second positive month in a row for the first time since a three-month streak ending December 2021. The S&P 500 and Dow rose 5.38% and 5.67%, respectively, to finish their second month of gains for the first time since August 2021.</p></body></html>\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":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163897561","content_text":"Stock traded up slightly Thursday after some inflation data closely watched by the Federal Reserve came in cooler than expected.The Dow Jones Industrial Average traded 14 points, or 0.04%, higher. The S&P 500 gained 0.3%, while the Nasdaq Composite was near flat.Stocks gained following the release of the October Core Personal Consumption Expenditures Index, a closely watched gauge of spending. October data showed the index rose 0.2%, below the consensus estimate of 0.3% collected from economists by Dow Jones. The 10-year Treasury yield decreased after the report.The moves followed a sharp rally Wednesday, with the Nasdaq Composite and the S&P snapping three-day losing streaks after Powell appeared to confirm a slowdown in the central bank’s tightening — a question that’s lingered in recent weeks. The Dow jumped 737.24 points, or 2.2%, on Wednesday, while the tech-heavy Nasdaq Composite and S&P 500 surged 4.4% and 3.1%, respectively.“Whether intentional or not, Powell sent a message that, in light of the tightening that’s already been done, he’s now more focused on the growth outlook and the employment picture than he is on bringing down inflation to 2%,” said Chris Senyek, chief investment strategist at Wolfe Research.Wednesday also marked the end of a winning month for the major averages. The Nasdaq rose 4.37% — its second positive month in a row for the first time since a three-month streak ending December 2021. The S&P 500 and Dow rose 5.38% and 5.67%, respectively, to finish their second month of gains for the first time since August 2021.","news_type":1},"isVote":1,"tweetType":1,"viewCount":167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962704147,"gmtCreate":1669844397789,"gmtModify":1676538253461,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9962704147","repostId":"1182936270","repostType":4,"repost":{"id":"1182936270","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":1669818613,"share":"https://www.laohu8.com/m/news/1182936270?lang=&edition=full","pubTime":"2022-11-30 22:30","market":"us","language":"en","title":"Stocks Open Little Changed As Investors Await Powell Speech","url":"https://stock-news.laohu8.com/highlight/detail?id=1182936270","media":"Tiger Newspress","summary":"Stocks were flat on Wednesday as Wall Street awaits an afternoon speech on the economy from Federal ","content":"<html><head></head><body><p>Stocks were flat on Wednesday as Wall Street awaits an afternoon speech on the economy from Federal Reserve Chair Jerome Powell.</p><p>S&P 500 was essentially little changed, with the benchmark looking to snap a 3-day losing streak. The Dow Jones Industrial Average gained 11 points, also trading near the flatline. Nasdaq 100 futures climbed 0.1%.</p><p>Traders were hit with two reports Wednesday morning that caused volatility in stock futures. On one hand, a labor report signaled the job market could be cooling, raising hopes the Federal Reserve would slow its aggressive rate-hiking campaign. On the other hand, an updated reading of third-quarter gross domestic product was released and it showed the economy was stronger last period than first realized.</p><p>Payroll processing firm ADP said Wednesday that private companies added just 127,000 positions for the month, well below the 190,000 consensus estimate from economists polled by Dow Jones.</p><p>But the Bureau of Economic Analysis also said Wednesday that third-quarter GDP increased at a 2.9% annual rate, according to its second estimate. That was revised higher from the 2.6% first estimate.</p><p>Powell will give a speech at the Brookings Institution this afternoon that may give further insight into the central bank’s thinking on future interest rate increases. The Fed is slated to meet later this month and is largely expected to deliver a smaller 0.5 percentage point rate hike after four consecutive 0.75 percentage point increases to tame high inflation. Any signal of a pivot on future rate hikes would likely send markets higher.</p><p>“This is a Fed-made recession, so eventually when he does pivot, the market should move higher pretty quickly,” said Steve Grasso, CEO of Grasso Global, on CNBC’s “Fast Money” Tuesday.</p><p>Wall Street is coming off a mixed session. The Nasdaq Composite shed 0.59% and the S&P 500 lost 0.16%, marking the third straight negative day for each. The Dow Jones Industrial Average notched a marginal gain, closing 3.07 points, or 0.01%, higher.</p><p>Stocks have been weighed down by China’s zero-Covid policy and have failed to fully recover from losses even as the country announced steps toward reopening, such as an uptick in vaccination rates for the elderly.</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>Stocks Open Little Changed As Investors Await Powell Speech</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStocks Open Little Changed As Investors Await Powell Speech\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\">2022-11-30 22:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Stocks were flat on Wednesday as Wall Street awaits an afternoon speech on the economy from Federal Reserve Chair Jerome Powell.</p><p>S&P 500 was essentially little changed, with the benchmark looking to snap a 3-day losing streak. The Dow Jones Industrial Average gained 11 points, also trading near the flatline. Nasdaq 100 futures climbed 0.1%.</p><p>Traders were hit with two reports Wednesday morning that caused volatility in stock futures. On one hand, a labor report signaled the job market could be cooling, raising hopes the Federal Reserve would slow its aggressive rate-hiking campaign. On the other hand, an updated reading of third-quarter gross domestic product was released and it showed the economy was stronger last period than first realized.</p><p>Payroll processing firm ADP said Wednesday that private companies added just 127,000 positions for the month, well below the 190,000 consensus estimate from economists polled by Dow Jones.</p><p>But the Bureau of Economic Analysis also said Wednesday that third-quarter GDP increased at a 2.9% annual rate, according to its second estimate. That was revised higher from the 2.6% first estimate.</p><p>Powell will give a speech at the Brookings Institution this afternoon that may give further insight into the central bank’s thinking on future interest rate increases. The Fed is slated to meet later this month and is largely expected to deliver a smaller 0.5 percentage point rate hike after four consecutive 0.75 percentage point increases to tame high inflation. Any signal of a pivot on future rate hikes would likely send markets higher.</p><p>“This is a Fed-made recession, so eventually when he does pivot, the market should move higher pretty quickly,” said Steve Grasso, CEO of Grasso Global, on CNBC’s “Fast Money” Tuesday.</p><p>Wall Street is coming off a mixed session. The Nasdaq Composite shed 0.59% and the S&P 500 lost 0.16%, marking the third straight negative day for each. The Dow Jones Industrial Average notched a marginal gain, closing 3.07 points, or 0.01%, higher.</p><p>Stocks have been weighed down by China’s zero-Covid policy and have failed to fully recover from losses even as the country announced steps toward reopening, such as an uptick in vaccination rates for the elderly.</p></body></html>\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":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182936270","content_text":"Stocks were flat on Wednesday as Wall Street awaits an afternoon speech on the economy from Federal Reserve Chair Jerome Powell.S&P 500 was essentially little changed, with the benchmark looking to snap a 3-day losing streak. The Dow Jones Industrial Average gained 11 points, also trading near the flatline. Nasdaq 100 futures climbed 0.1%.Traders were hit with two reports Wednesday morning that caused volatility in stock futures. On one hand, a labor report signaled the job market could be cooling, raising hopes the Federal Reserve would slow its aggressive rate-hiking campaign. On the other hand, an updated reading of third-quarter gross domestic product was released and it showed the economy was stronger last period than first realized.Payroll processing firm ADP said Wednesday that private companies added just 127,000 positions for the month, well below the 190,000 consensus estimate from economists polled by Dow Jones.But the Bureau of Economic Analysis also said Wednesday that third-quarter GDP increased at a 2.9% annual rate, according to its second estimate. That was revised higher from the 2.6% first estimate.Powell will give a speech at the Brookings Institution this afternoon that may give further insight into the central bank’s thinking on future interest rate increases. The Fed is slated to meet later this month and is largely expected to deliver a smaller 0.5 percentage point rate hike after four consecutive 0.75 percentage point increases to tame high inflation. Any signal of a pivot on future rate hikes would likely send markets higher.“This is a Fed-made recession, so eventually when he does pivot, the market should move higher pretty quickly,” said Steve Grasso, CEO of Grasso Global, on CNBC’s “Fast Money” Tuesday.Wall Street is coming off a mixed session. The Nasdaq Composite shed 0.59% and the S&P 500 lost 0.16%, marking the third straight negative day for each. The Dow Jones Industrial Average notched a marginal gain, closing 3.07 points, or 0.01%, higher.Stocks have been weighed down by China’s zero-Covid policy and have failed to fully recover from losses even as the country announced steps toward reopening, such as an uptick in vaccination rates for the elderly.","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962597636,"gmtCreate":1669800303625,"gmtModify":1676538245862,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9962597636","repostId":"1169971033","repostType":4,"repost":{"id":"1169971033","pubTimestamp":1669785643,"share":"https://www.laohu8.com/m/news/1169971033?lang=&edition=full","pubTime":"2022-11-30 13:20","market":"us","language":"en","title":"Is GOOG Stock About to Turn a Corner? Not So Fast","url":"https://stock-news.laohu8.com/highlight/detail?id=1169971033","media":"Investorplace","summary":"In line with the overall stock market,Alphabet(GOOG,GOOGL) stock has moved higher in recent weeks.As","content":"<html><head></head><body><ul><li>In line with the overall stock market,<b>Alphabet</b>(GOOG,GOOGL) stock has moved higher in recent weeks.</li><li>As the tech giant contends with inflation and the resultant economic slowdown, shares could soon give back these gains.</li><li>Add in the possibility of shares trading sideways until macro issues subside, and there’s clearly still no rush to enter/add to a position.<img src=\"https://static.tigerbbs.com/fa7f77c66a06dd38f9000586da59ecae\" tg-width=\"768\" tg-height=\"432\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></li></ul><p>In line with the overall stock market, <b>Alphabet</b>(NASDAQ:<b><u>GOOG</u></b>,NASDAQ:<b><u>GOOGL</u></b>) stock has moved higher in recent weeks. Since hitting a new multi-year low on Nov. 3 ($83.45 per share), GOOG stock has climbed back up to around $95.14per share.</p><p>With a company-specific developments (more below) also giving shares a boost, some may believe now that a recovery is in motion for this mega-cap tech stock. Yet while shares may not necessarily be at risk of making another big plunge, I wouldn’t assume Alphabet is en route to make a fast recovery.</p><p>Mainly, because macro issues, such as high inflation, and the economic slowdown/possible recession, are still far from entering the rearview mirror. As these headwinds continue to affect operating results in the near-term, there’s a strong chance the stock gives back its latest gains, making it best to maintain a “wait-and-see” stance.</p><table><tbody><tr><td><b><u>GOOG</u></b></td><td><b>Alphabet</b></td><td>$95.14</td></tr></tbody></table><h2>GOOG Stock: What Drove its Recent Rally?</h2><p>Throughout November, market pessimism for Alphabet stock, caused by a poorly-received earnings report in late October, morphed into renewed optimism. Mostly, due to a key piece of macro data: the latest Consumer Price Index figure, released on Nov. 10.</p><p>With the latest CPI printsuggesting that inflation is perhaps cooling, the market has become more hopeful that the Federal Reserve will ease, then pivot, on interest rate hikes, in the coming year. Yet while this was the main factor behind the November GOOG stock rally, as mentioned above, there was a factor pertaining more directly to the company, that provided an additional (albeit small) lift for shares.</p><p>That would be the emergence of a shareholder activist activity within the company. On Nov. 15, activist hedge fund <b>TCI Fund Management</b>, which says it owns a $6 billion stake in Alphabet, sent a letter to CEO Sundar Pichai. In it the company pushed for the CEO toaggressively reduce costsby reducing headcount, and by reducing its involvement in “Other Bets” activities such as autonomous vehicle startup <b>Waymo</b>.</p><p>But GOOG’s recent rally has lost momentum. Another pullback may soon follow, as excitement over shareholder activism and the potential Fed pivot continue to fade.</p><h2>While Not Getting Worse, Issues Will Likely Persist</h2><p>Between cooling inflation, and rising chances that the Fed eases on further increases to interest rates, there’s much to suggest the current macroeconomic challenges will get worse from here. Even so, it’s questionable whether the easing of said challenges will happen quickly, or take time to occur.</p><p>Although inflation may be slowing down, as I argued in my last article on GOOG stock,it has been sticky, and could remain at elevated levels for quite some time. This could limit the Fed’s flexibility when it comes to lowering rates.</p><p>As inflation and interest rates stay high, Alphabet’s bread-and-butter advertising business will likely continue to report underwhelming results.</p><p>That’s not all. The related economic slowdown will likely keep affecting both GOOG’s advertising business, plus its cloud computing segment, as large enterprises continue to cut back on IT spending. Sure, TCI’s shareholder activism could in theory counter this, if Alphabet acquiesces to the fund’s cost-cutting demands.</p><p>However, the company’s founders stillhold voting controlof Alphabet. TCI doesn’t even own 1% of this trillion-dollar company’s outstanding shares. As with <b>Starboard Value’s</b>activist involvement with <b>Salesforce</b>(NYSE:<b>CRM</b>), TCI’s campaign may have long-shot odds of success.</p><h2>Bottom Line on GOOG Stock</h2><p>Trading for only19.1times earnings, GOOG, despite its troubles, may look tempting due to its low price. Unfortunately, a re-rating for shares is only going to arrive, when macro issues subside, and growth re-accelerates.</p><p>Until then, as the company’s revenue and earnings are further affected by high inflation and high interest rates, shares could retest lows, and remain stuck at prices under $100 per share.</p><p>There are rumors that Alphabet is gearing up to lay off10,000employees, but this may not be a sign that management is looking to implement TCI’s recommendations.</p><p>Other tech firms have announced similarly-sized layoffs. With Alphabet’s headcount totaling187,000, these reductions may be only a drop in the bucket, having just a modest impact to the bottom line.</p><p>As recent developments do little to change the situation, there’s clearly still no rush to enter/add to a GOOG stock position.</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>Is GOOG Stock About to Turn a Corner? Not So Fast</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 GOOG Stock About to Turn a Corner? Not So Fast\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-30 13:20 GMT+8 <a href=https://investorplace.com/market360/2022/11/is-goog-stock-about-to-turn-a-corner-not-so-fast/><strong>Investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In line with the overall stock market,Alphabet(GOOG,GOOGL) stock has moved higher in recent weeks.As the tech giant contends with inflation and the resultant economic slowdown, shares could soon give ...</p>\n\n<a href=\"https://investorplace.com/market360/2022/11/is-goog-stock-about-to-turn-a-corner-not-so-fast/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOGL":"谷歌A","GOOG":"谷歌"},"source_url":"https://investorplace.com/market360/2022/11/is-goog-stock-about-to-turn-a-corner-not-so-fast/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169971033","content_text":"In line with the overall stock market,Alphabet(GOOG,GOOGL) stock has moved higher in recent weeks.As the tech giant contends with inflation and the resultant economic slowdown, shares could soon give back these gains.Add in the possibility of shares trading sideways until macro issues subside, and there’s clearly still no rush to enter/add to a position.In line with the overall stock market, Alphabet(NASDAQ:GOOG,NASDAQ:GOOGL) stock has moved higher in recent weeks. Since hitting a new multi-year low on Nov. 3 ($83.45 per share), GOOG stock has climbed back up to around $95.14per share.With a company-specific developments (more below) also giving shares a boost, some may believe now that a recovery is in motion for this mega-cap tech stock. Yet while shares may not necessarily be at risk of making another big plunge, I wouldn’t assume Alphabet is en route to make a fast recovery.Mainly, because macro issues, such as high inflation, and the economic slowdown/possible recession, are still far from entering the rearview mirror. As these headwinds continue to affect operating results in the near-term, there’s a strong chance the stock gives back its latest gains, making it best to maintain a “wait-and-see” stance.GOOGAlphabet$95.14GOOG Stock: What Drove its Recent Rally?Throughout November, market pessimism for Alphabet stock, caused by a poorly-received earnings report in late October, morphed into renewed optimism. Mostly, due to a key piece of macro data: the latest Consumer Price Index figure, released on Nov. 10.With the latest CPI printsuggesting that inflation is perhaps cooling, the market has become more hopeful that the Federal Reserve will ease, then pivot, on interest rate hikes, in the coming year. Yet while this was the main factor behind the November GOOG stock rally, as mentioned above, there was a factor pertaining more directly to the company, that provided an additional (albeit small) lift for shares.That would be the emergence of a shareholder activist activity within the company. On Nov. 15, activist hedge fund TCI Fund Management, which says it owns a $6 billion stake in Alphabet, sent a letter to CEO Sundar Pichai. In it the company pushed for the CEO toaggressively reduce costsby reducing headcount, and by reducing its involvement in “Other Bets” activities such as autonomous vehicle startup Waymo.But GOOG’s recent rally has lost momentum. Another pullback may soon follow, as excitement over shareholder activism and the potential Fed pivot continue to fade.While Not Getting Worse, Issues Will Likely PersistBetween cooling inflation, and rising chances that the Fed eases on further increases to interest rates, there’s much to suggest the current macroeconomic challenges will get worse from here. Even so, it’s questionable whether the easing of said challenges will happen quickly, or take time to occur.Although inflation may be slowing down, as I argued in my last article on GOOG stock,it has been sticky, and could remain at elevated levels for quite some time. This could limit the Fed’s flexibility when it comes to lowering rates.As inflation and interest rates stay high, Alphabet’s bread-and-butter advertising business will likely continue to report underwhelming results.That’s not all. The related economic slowdown will likely keep affecting both GOOG’s advertising business, plus its cloud computing segment, as large enterprises continue to cut back on IT spending. Sure, TCI’s shareholder activism could in theory counter this, if Alphabet acquiesces to the fund’s cost-cutting demands.However, the company’s founders stillhold voting controlof Alphabet. TCI doesn’t even own 1% of this trillion-dollar company’s outstanding shares. As with Starboard Value’sactivist involvement with Salesforce(NYSE:CRM), TCI’s campaign may have long-shot odds of success.Bottom Line on GOOG StockTrading for only19.1times earnings, GOOG, despite its troubles, may look tempting due to its low price. Unfortunately, a re-rating for shares is only going to arrive, when macro issues subside, and growth re-accelerates.Until then, as the company’s revenue and earnings are further affected by high inflation and high interest rates, shares could retest lows, and remain stuck at prices under $100 per share.There are rumors that Alphabet is gearing up to lay off10,000employees, but this may not be a sign that management is looking to implement TCI’s recommendations.Other tech firms have announced similarly-sized layoffs. With Alphabet’s headcount totaling187,000, these reductions may be only a drop in the bucket, having just a modest impact to the bottom line.As recent developments do little to change the situation, there’s clearly still no rush to enter/add to a GOOG stock position.","news_type":1},"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9962940161,"gmtCreate":1669706656154,"gmtModify":1676538226328,"author":{"id":"4099650032870960","authorId":"4099650032870960","name":"Helloyah","avatar":"https://static.tigerbbs.com/04a600ad88159fff17f3cf715916ac3a","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Monitor ","listText":"Monitor ","text":"Monitor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9962940161","repostId":"2287511245","repostType":4,"repost":{"id":"2287511245","pubTimestamp":1669690737,"share":"https://www.laohu8.com/m/news/2287511245?lang=&edition=full","pubTime":"2022-11-29 10:58","market":"us","language":"en","title":"Where Will Tesla Stock Be In 5 Years?","url":"https://stock-news.laohu8.com/highlight/detail?id=2287511245","media":"Seeking Alpha","summary":"SummaryTesla's shares have performed poorly in the past month or so, as its lower-than-expected Q3 2","content":"<html><head></head><body><h2>Summary</h2><ul><li>Tesla's shares have performed poorly in the past month or so, as its lower-than-expected Q3 2022 automotive gross margin disappointed the market.</li><li>TSLA's near-term outlook remains mixed, as I expect an improvement in Tesla's automotive gross margin in subsequent quarters to be offset by weaker-than-expected deliveries.</li><li>In the next 5 years, Tesla will continue to be a fast grower in terms of the expected CAGRs for its top line, net profit, and free cash flow.</li><li>I raise my rating for TSLA from a Hold to a Buy, as its valuations have gotten more attractive and have yet to factor in the company's positive 5-year outlook in my opinion.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c520175a47f7c851f6eda11fb071b3e5\" tg-width=\"1080\" tg-height=\"810\" width=\"100%\" height=\"auto\"/><span>Xiaolu Chu</span></p><h2>Elevator Pitch</h2><p>I have a Buy investment rating for Tesla, Inc.'s (NASDAQ:TSLA) shares.</p><p>I previously discussed TSLA's stock split and target price changes with my prior September 7, 2022 update for the company. In that article, I determined that "the implied upside (+13%) for TSLA's shares as per the consensus price target isn't very attractive" at that point in time. However, Tesla's shares have dropped by a substantial 33% following the publication of my earlier write-up, and this has prompted me to provide an update of my thoughts on Tesla with this latest article.</p><p>Specifically, I focus on Tesla's near-term stock price underperformance, its five-year or medium term growth prospects, and the stock's valuation in the current write-up.</p><p>TSLA's shares have underperformed in the past month or so. However, if one looks beyond the near-term headwinds, Tesla is expected to stay as a fast growing company in the coming five years based on the future CAGRs for its key financial metrics. Also, Tesla's valuations have returned to reasonably appealing levels considering its forward P/E multiple of 33.8 times now. After comparing TSLA's five-year outlook with its current valuations, I choose to upgrade my investment rating on TSLA from a Hold previously to a Buy now.</p><h2>TSLA Stock Key Metrics</h2><p>Tesla's recent share price performance has been poor in both absolute and relative terms. Since the company reported its Q3 2022 financial results on October 19, 2022 after trading hours, TSLA's stock price has fallen by -17.7%.</p><p>TSLA's key headline metric, Q3 2022 earnings per share or EPS of $1.05 came in +5% above the sell-side analysts' consensus forecast of $1.00. But the company's above-expectations third quarter bottom line was not the key metric that investors focused on, as seen with Tesla's stock price performance following its results announcement.</p><p>Instead, Tesla's automotive gross profit margin was the metric that really mattered for investors.</p><p>Adjusting for Zero Emission Vehicle or ZEV credits, the non-GAAP adjusted automotive gross profit margin for TSLA contracted by -200 basis points from 28.8% in Q3 2021 to 26.8% for Q3 2022. Tesla's actual third quarter non-GAAP adjusted gross margin also turned out to be -0.6 percentage points lower than the analysts' consensus gross margin estimate of 27.4% based on data obtained from <i>S&P Capital IQ</i>.</p><p>Looking at TSLA's stock price performance since the earning's announcement, it is very clear that the company's third quarter automotive gross margin was a major disappointment for investors.</p><h2>What Are Catalysts To Watch For?</h2><p>The two near-term catalysts that investors will be watching out for are stronger-than-expected vehicle demand as indicated by deliveries, and better-than-expected profitability at the gross margin level.</p><p>Tesla's stock has performed poorly in the last month or so. One major factor is TSLA's lower-than-expected automotive gross margin, which I highlighted in the preceding section. The other significant factor is the market's concerns about the company's ability to maintain a healthy pace of vehicle sales in a challenging economic environment. The company acknowledged at its most recent Q3 2022 earnings briefing.</p><p>In the next section, I analyze if it is likely that Tesla can realize both of the above-mentioned catalysts in the short term.</p><h2>What Is The Short-Term Prediction?</h2><p>My prediction is that Tesla's performance will be mixed in the short term, with a recovery in the company's automotive gross margin being negated by lower-than-expected vehicle deliveries.</p><p>On the negative side of things, TSLA's vehicle deliveries in the upcoming quarters might come in below expectations.</p><p>Tesla mentioned at its most recent quarterly investors call that the company's 2022 vehicle deliveries are expected to come in "just under 50% growth due to an increase in the cars in transit" as a result of "limits on outbound logistics capacity which we didn’t anticipate."</p><p>Apart from issues relating to logistics, other factors such as weak consumer demand in view of poor economic growth, and consumers holding off new purchases in anticipation of potential tax credits for 2023.</p><p>On the positive side of things, I expect Tesla's automotive gross margin to improve in the fourth quarter of 2022 and beyond.</p><p>One key thing to note is that the Q3 2022 automotive gross margin for TSLA was hurt by "Austin and Berlin ramp costs" as per management's comments at the third quarter results briefing. It is noteworthy that Tesla guided that "the impact" of "Austin and Berlin ramp costs" going forward will be "less than what we saw in Q3." Also, one should have seen the worst of inflationary cost pressures again, and it is reasonable to take the view that raw material expenses should trend lower in the future.</p><p>Nevertheless, I think it is important for investors considering a potential investment in Tesla to look beyond the near term. I write about Tesla's intermediate term or five-year outlook in the next section.</p><h2>Where Will Tesla Stock Be In 5 Years?</h2><p>In the next five years, Tesla is expected to continue delivering strong growth across all of its key financial metrics.</p><p>As per consensus data sourced from<i>S&P Capital IQ</i>, analysts estimate that TSLA's top line will grow by a +30% CAGR from $53.8 billion in fiscal 2021 to $201.7 billion for FY 2026. Over the same period, Tesla's normalized net income and free cash flow are projected to increase by CAGRs of +29% and +45% to $26.8 billion and $32.5 billion, respectively according to the sell-side's forecasts. TSLA also stressed at its recent Q3 2022 earnings call that the company will continue to "grow our vehicle production, sales deliveries by" a CAGR of +50% or higher in the long run.</p><p>There are a number of factors supporting the positive five-year and mid-term financial outlook for TSLA.</p><p>Firstly, the penetration rate of electric vehicles might increase at a much faster pace than what the market is currently expecting.</p><p>A September 14, 2022 research report (not publicly available) titled "Demand For EVs Outpacing Supply" published by<i>Needham & Company</i></p><p>In other words, analysts might be overly cautious in relation to their estimates of the expected penetration rate of EVs in the future, and there could be positive surprises ahead which will benefit the market leader, Tesla.</p><p>Secondly, Tesla's future top line expansion isn't just about executing on more one-off vehicle sales. It is worthy of note that revenue derived from TSLA's Services And Other segment surged by +84.0% YoY from $894 million in the third quarter of 2021 to $1,645 million in the most recent quarter.</p><p>Looking forward, supercharging revenue (key contributor for the Services And Other segment) is an area which holds significant growth potential. According to a <i>Goldman Sachs</i> (GS) research report (not publicly available) titled "Opening The Supercharger Network" issued on June 29, 2022, analysts from GS estimate that "the incremental (supercharging) revenue opportunity could be $1-$3 bn in a few years", if TSLA does "open up the (Supercharger) network to all EV drivers."</p><p>Thirdly, Tesla's future earnings per share or bottom line can grow as fast, if not even faster than its revenue, considering the positive effects of operating leverage and potential shareholder capital return.</p><p>In the third quarter of 2022, TSLA's operating costs increased by a mere +2.3% YoY as compared to a +55.9% jump in the company's revenue in YoY terms. This is a good illustration of how Tesla benefits from positive operating leverage.</p><p>Separately, Tesla's future EPS growth can be boosted by share repurchases. TSLA emphasized at its Q3 2022 results call that it can "do a buyback on the order of $5 billion to $10 billion, even in the downside scenario next year."</p><h2>Is TSLA Stock A Buy, Sell, Or Hold?</h2><p>TSLA's shares are now rated as a Buy. Tesla's consensus forward next twelve months' normalized P/E multiple has derated to 33.8 times now as per <i>S&P Capital IQ</i>data, and this is just 9% above TSLA's three-year trough P/E ratio of 31.0 times. I think that Tesla's current P/E metric is reasonably attractive as compared to the company's five-year forward financial outlook, and this makes TSLA a Buy in my opinion.</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>Where Will Tesla Stock Be In 5 Years?</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\">\nWhere Will Tesla Stock Be In 5 Years?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-29 10:58 GMT+8 <a href=https://seekingalpha.com/article/4560869-tesla-stock-5-years><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla's shares have performed poorly in the past month or so, as its lower-than-expected Q3 2022 automotive gross margin disappointed the market.TSLA's near-term outlook remains mixed, as I ...</p>\n\n<a href=\"https://seekingalpha.com/article/4560869-tesla-stock-5-years\">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://seekingalpha.com/article/4560869-tesla-stock-5-years","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2287511245","content_text":"SummaryTesla's shares have performed poorly in the past month or so, as its lower-than-expected Q3 2022 automotive gross margin disappointed the market.TSLA's near-term outlook remains mixed, as I expect an improvement in Tesla's automotive gross margin in subsequent quarters to be offset by weaker-than-expected deliveries.In the next 5 years, Tesla will continue to be a fast grower in terms of the expected CAGRs for its top line, net profit, and free cash flow.I raise my rating for TSLA from a Hold to a Buy, as its valuations have gotten more attractive and have yet to factor in the company's positive 5-year outlook in my opinion.Xiaolu ChuElevator PitchI have a Buy investment rating for Tesla, Inc.'s (NASDAQ:TSLA) shares.I previously discussed TSLA's stock split and target price changes with my prior September 7, 2022 update for the company. In that article, I determined that \"the implied upside (+13%) for TSLA's shares as per the consensus price target isn't very attractive\" at that point in time. However, Tesla's shares have dropped by a substantial 33% following the publication of my earlier write-up, and this has prompted me to provide an update of my thoughts on Tesla with this latest article.Specifically, I focus on Tesla's near-term stock price underperformance, its five-year or medium term growth prospects, and the stock's valuation in the current write-up.TSLA's shares have underperformed in the past month or so. However, if one looks beyond the near-term headwinds, Tesla is expected to stay as a fast growing company in the coming five years based on the future CAGRs for its key financial metrics. Also, Tesla's valuations have returned to reasonably appealing levels considering its forward P/E multiple of 33.8 times now. After comparing TSLA's five-year outlook with its current valuations, I choose to upgrade my investment rating on TSLA from a Hold previously to a Buy now.TSLA Stock Key MetricsTesla's recent share price performance has been poor in both absolute and relative terms. Since the company reported its Q3 2022 financial results on October 19, 2022 after trading hours, TSLA's stock price has fallen by -17.7%.TSLA's key headline metric, Q3 2022 earnings per share or EPS of $1.05 came in +5% above the sell-side analysts' consensus forecast of $1.00. But the company's above-expectations third quarter bottom line was not the key metric that investors focused on, as seen with Tesla's stock price performance following its results announcement.Instead, Tesla's automotive gross profit margin was the metric that really mattered for investors.Adjusting for Zero Emission Vehicle or ZEV credits, the non-GAAP adjusted automotive gross profit margin for TSLA contracted by -200 basis points from 28.8% in Q3 2021 to 26.8% for Q3 2022. Tesla's actual third quarter non-GAAP adjusted gross margin also turned out to be -0.6 percentage points lower than the analysts' consensus gross margin estimate of 27.4% based on data obtained from S&P Capital IQ.Looking at TSLA's stock price performance since the earning's announcement, it is very clear that the company's third quarter automotive gross margin was a major disappointment for investors.What Are Catalysts To Watch For?The two near-term catalysts that investors will be watching out for are stronger-than-expected vehicle demand as indicated by deliveries, and better-than-expected profitability at the gross margin level.Tesla's stock has performed poorly in the last month or so. One major factor is TSLA's lower-than-expected automotive gross margin, which I highlighted in the preceding section. The other significant factor is the market's concerns about the company's ability to maintain a healthy pace of vehicle sales in a challenging economic environment. The company acknowledged at its most recent Q3 2022 earnings briefing.In the next section, I analyze if it is likely that Tesla can realize both of the above-mentioned catalysts in the short term.What Is The Short-Term Prediction?My prediction is that Tesla's performance will be mixed in the short term, with a recovery in the company's automotive gross margin being negated by lower-than-expected vehicle deliveries.On the negative side of things, TSLA's vehicle deliveries in the upcoming quarters might come in below expectations.Tesla mentioned at its most recent quarterly investors call that the company's 2022 vehicle deliveries are expected to come in \"just under 50% growth due to an increase in the cars in transit\" as a result of \"limits on outbound logistics capacity which we didn’t anticipate.\"Apart from issues relating to logistics, other factors such as weak consumer demand in view of poor economic growth, and consumers holding off new purchases in anticipation of potential tax credits for 2023.On the positive side of things, I expect Tesla's automotive gross margin to improve in the fourth quarter of 2022 and beyond.One key thing to note is that the Q3 2022 automotive gross margin for TSLA was hurt by \"Austin and Berlin ramp costs\" as per management's comments at the third quarter results briefing. It is noteworthy that Tesla guided that \"the impact\" of \"Austin and Berlin ramp costs\" going forward will be \"less than what we saw in Q3.\" Also, one should have seen the worst of inflationary cost pressures again, and it is reasonable to take the view that raw material expenses should trend lower in the future.Nevertheless, I think it is important for investors considering a potential investment in Tesla to look beyond the near term. I write about Tesla's intermediate term or five-year outlook in the next section.Where Will Tesla Stock Be In 5 Years?In the next five years, Tesla is expected to continue delivering strong growth across all of its key financial metrics.As per consensus data sourced fromS&P Capital IQ, analysts estimate that TSLA's top line will grow by a +30% CAGR from $53.8 billion in fiscal 2021 to $201.7 billion for FY 2026. Over the same period, Tesla's normalized net income and free cash flow are projected to increase by CAGRs of +29% and +45% to $26.8 billion and $32.5 billion, respectively according to the sell-side's forecasts. TSLA also stressed at its recent Q3 2022 earnings call that the company will continue to \"grow our vehicle production, sales deliveries by\" a CAGR of +50% or higher in the long run.There are a number of factors supporting the positive five-year and mid-term financial outlook for TSLA.Firstly, the penetration rate of electric vehicles might increase at a much faster pace than what the market is currently expecting.A September 14, 2022 research report (not publicly available) titled \"Demand For EVs Outpacing Supply\" published byNeedham & CompanyIn other words, analysts might be overly cautious in relation to their estimates of the expected penetration rate of EVs in the future, and there could be positive surprises ahead which will benefit the market leader, Tesla.Secondly, Tesla's future top line expansion isn't just about executing on more one-off vehicle sales. It is worthy of note that revenue derived from TSLA's Services And Other segment surged by +84.0% YoY from $894 million in the third quarter of 2021 to $1,645 million in the most recent quarter.Looking forward, supercharging revenue (key contributor for the Services And Other segment) is an area which holds significant growth potential. According to a Goldman Sachs (GS) research report (not publicly available) titled \"Opening The Supercharger Network\" issued on June 29, 2022, analysts from GS estimate that \"the incremental (supercharging) revenue opportunity could be $1-$3 bn in a few years\", if TSLA does \"open up the (Supercharger) network to all EV drivers.\"Thirdly, Tesla's future earnings per share or bottom line can grow as fast, if not even faster than its revenue, considering the positive effects of operating leverage and potential shareholder capital return.In the third quarter of 2022, TSLA's operating costs increased by a mere +2.3% YoY as compared to a +55.9% jump in the company's revenue in YoY terms. This is a good illustration of how Tesla benefits from positive operating leverage.Separately, Tesla's future EPS growth can be boosted by share repurchases. TSLA emphasized at its Q3 2022 results call that it can \"do a buyback on the order of $5 billion to $10 billion, even in the downside scenario next year.\"Is TSLA Stock A Buy, Sell, Or Hold?TSLA's shares are now rated as a Buy. Tesla's consensus forward next twelve months' normalized P/E multiple has derated to 33.8 times now as per S&P Capital IQdata, and this is just 9% above TSLA's three-year trough P/E ratio of 31.0 times. I think that Tesla's current P/E metric is reasonably attractive as compared to the company's five-year forward financial outlook, and this makes TSLA a Buy in my opinion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":20,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[],"lives":[]}