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2022-12-13
$Netflix(NFLX)$
Anselo
2022-12-12
$IFAST CORPORATION LTD.(AIY.SI)$
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2022-12-11
$Netflix(NFLX)$
Anselo
2022-12-09
$Netflix(NFLX)$
Anselo
2022-12-08
$Netflix(NFLX)$
Anselo
2022-12-07
$Netflix(NFLX)$
Anselo
2022-12-05
$Micron Technology(MU)$
Anselo
2022-12-03
$Netflix(NFLX)$
Anselo
2022-12-02
$Meta Platforms, Inc.(FB)$
Anselo
2022-12-01
$Netflix(NFLX)$
Anselo
2022-11-30
$Netflix(NFLX)$
Anselo
2022-11-29
$Pinduoduo Inc.(PDD)$
Anselo
2022-11-28
$Micron Technology(MU)$
Anselo
2022-11-27
$Netflix(NFLX)$
Anselo
2022-11-26
$Netflix(NFLX)$
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2022-11-26
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Anselo
2022-11-25
$AMC Entertainment(AMC)$
Anselo
2022-11-23
$Micron Technology(MU)$
Anselo
2022-11-22
$Apple(AAPL)$
Anselo
2022-11-21
$Netflix(NFLX)$
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data-views=\"1\"></v-v>","text":"$Apple(AAPL)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9961765835","isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9961230831,"gmtCreate":1668981639423,"gmtModify":1676538132760,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/NFLX\">$Netflix(NFLX)$ </a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/NFLX\">$Netflix(NFLX)$ </a><v-v data-views=\"1\"></v-v>","text":"$Netflix(NFLX)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9961230831","isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9031147154,"gmtCreate":1646487254740,"gmtModify":1676534134175,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"title":"How to read PE ratio?","htmlText":"1) Price-Earning ratio = share price / earnings per share (EPS) 2) Simple Definition: For one year of earnings, how many times is the market valuing it? 3) Generally higher ratio means investors are confident about the future prospects of the company and vice versa. 4) Another way to look at it is higher ratio means likely to be overvalued and lower value signals undervaluation. 5) Be wary of just using one year of earnings for cyclical company eg. Company who earns $1 every year for 9 years but at the end of the cycle earns $5. PE ratio for a $10 company is 10 for every year and for the final year it is just 2. SOLUTION: Take average EPS over the cycle period. 6) Historical PE = market price/trailing 12 months EPS (Good for gauging industry PE ratio) 7) Forward PE =","listText":"1) Price-Earning ratio = share price / earnings per share (EPS) 2) Simple Definition: For one year of earnings, how many times is the market valuing it? 3) Generally higher ratio means investors are confident about the future prospects of the company and vice versa. 4) Another way to look at it is higher ratio means likely to be overvalued and lower value signals undervaluation. 5) Be wary of just using one year of earnings for cyclical company eg. Company who earns $1 every year for 9 years but at the end of the cycle earns $5. PE ratio for a $10 company is 10 for every year and for the final year it is just 2. SOLUTION: Take average EPS over the cycle period. 6) Historical PE = market price/trailing 12 months EPS (Good for gauging industry PE ratio) 7) Forward PE =","text":"1) Price-Earning ratio = share price / earnings per share (EPS) 2) Simple Definition: For one year of earnings, how many times is the market valuing it? 3) Generally higher ratio means investors are confident about the future prospects of the company and vice versa. 4) Another way to look at it is higher ratio means likely to be overvalued and lower value signals undervaluation. 5) Be wary of just using one year of earnings for cyclical company eg. Company who earns $1 every year for 9 years but at the end of the cycle earns $5. PE ratio for a $10 company is 10 for every year and for the final year it is just 2. SOLUTION: Take average EPS over the cycle period. 6) Historical PE = market price/trailing 12 months EPS (Good for gauging industry PE ratio) 7) Forward PE =","images":[],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":710,"commentSize":1,"repostSize":7,"link":"https://ttm.financial/post/9031147154","isVote":1,"tweetType":1,"viewCount":13231,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4087422624240810","authorId":"4087422624240810","name":"AliceSam","avatar":"https://community-static.tradeup.com/news/ab7fe6835f5dc7190316aa1621716648","crmLevel":4,"crmLevelSwitch":1},"content":"Thank you for science popularization [happy] This PE is a very important ratio. Many tiger friends not only increase their positions when they are bearish (for example, increase their positions every 10%), but also have many great gods who look at PE to increase their positions. For example, 20PE adds a warehouse, 15PE adds another warehouse, and 10PE bargain-hunting, which makes the interval of bargain-hunting and bargain-hunting very large.","text":"Thank you for science popularization [happy] This PE is a very important ratio. Many tiger friends not only increase their positions when they are bearish (for example, increase their positions every 10%), but also have many great gods who look at PE to increase their positions. For example, 20PE adds a warehouse, 15PE adds another warehouse, and 10PE bargain-hunting, which makes the interval of bargain-hunting and bargain-hunting very large.","html":"Thank you for science popularization [happy] This PE is a very important ratio. Many tiger friends not only increase their positions when they are bearish (for example, increase their positions every 10%), but also have many great gods who look at PE to increase their positions. For example, 20PE adds a warehouse, 15PE adds another warehouse, and 10PE bargain-hunting, which makes the interval of bargain-hunting and bargain-hunting very large."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032975338,"gmtCreate":1647269274364,"gmtModify":1676534210301,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"title":"Alibaba delisting and why it is so bad in the short term","htmlText":"1) US stock market is the largest in the world and USD is the world's reserve currency and most widely used currency is the world. These two reasons make listing in US one of top choices for a company if they want to list at a good a price because it the biggest stock market with the most volume of transactions and possibly most liquid. Which is why Alibaba list in the US (besides HK).2) Delisting from the US stock market means possibility of being taken down in major US indices. With many passive funds investing and tracking indices, if a company is being removed from its indices, the passive funds would have to sell the share to match the indices. (Selling = increase in supply of shares = lower share price)3) Some investment vehicles have a mandate to invest","listText":"1) US stock market is the largest in the world and USD is the world's reserve currency and most widely used currency is the world. These two reasons make listing in US one of top choices for a company if they want to list at a good a price because it the biggest stock market with the most volume of transactions and possibly most liquid. Which is why Alibaba list in the US (besides HK).2) Delisting from the US stock market means possibility of being taken down in major US indices. With many passive funds investing and tracking indices, if a company is being removed from its indices, the passive funds would have to sell the share to match the indices. (Selling = increase in supply of shares = lower share price)3) Some investment vehicles have a mandate to invest","text":"1) US stock market is the largest in the world and USD is the world's reserve currency and most widely used currency is the world. These two reasons make listing in US one of top choices for a company if they want to list at a good a price because it the biggest stock market with the most volume of transactions and possibly most liquid. Which is why Alibaba list in the US (besides HK).2) Delisting from the US stock market means possibility of being taken down in major US indices. With many passive funds investing and tracking indices, if a company is being removed from its indices, the passive funds would have to sell the share to match the indices. (Selling = increase in supply of shares = lower share price)3) Some investment vehicles have a mandate to invest","images":[],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":50,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032975338","isVote":1,"tweetType":1,"viewCount":5560,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000417","authorId":"9000000000000417","name":"QuinnKelvin","avatar":"https://static.tigerbbs.com/70eb8e5a109296fe82a90563211f430b","crmLevel":1,"crmLevelSwitch":0},"content":"In my eyes, Alibaba is a very excellent company. I am very optimistic about it. I will buy and hold it.","text":"In my eyes, Alibaba is a very excellent company. I am very optimistic about it. I will buy and hold it.","html":"In my eyes, Alibaba is a very excellent company. I am very optimistic about it. I will buy and hold it."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9046801829,"gmtCreate":1656321965061,"gmtModify":1676535805747,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"title":"Jack C. Bogle","htmlText":"Jack C. BogleThe man who brought index funds to the world. The idea is simple:1) Investing costs (management fees or trading fees) reduces returns over the long run. A low cost index fund enables minimal costs incurred and hence maximises the chance of tracking market returns.2) Diversification reduces portfolio risk.3) Most funds and retail investors don’t beat the market in the long run (they might in the short run), the surer way (higher probability of success) of making money is to invest in a low cost index fund.How to earn money by buying an index fund?1) A long time frame is required, the idea is that given enough time (no matter great depression, financial bubbles and recession or even world wars), the market will always grow and push to a new peak. Of course one can argue the past","listText":"Jack C. BogleThe man who brought index funds to the world. The idea is simple:1) Investing costs (management fees or trading fees) reduces returns over the long run. A low cost index fund enables minimal costs incurred and hence maximises the chance of tracking market returns.2) Diversification reduces portfolio risk.3) Most funds and retail investors don’t beat the market in the long run (they might in the short run), the surer way (higher probability of success) of making money is to invest in a low cost index fund.How to earn money by buying an index fund?1) A long time frame is required, the idea is that given enough time (no matter great depression, financial bubbles and recession or even world wars), the market will always grow and push to a new peak. Of course one can argue the past","text":"Jack C. BogleThe man who brought index funds to the world. The idea is simple:1) Investing costs (management fees or trading fees) reduces returns over the long run. A low cost index fund enables minimal costs incurred and hence maximises the chance of tracking market returns.2) Diversification reduces portfolio risk.3) Most funds and retail investors don’t beat the market in the long run (they might in the short run), the surer way (higher probability of success) of making money is to invest in a low cost index fund.How to earn money by buying an index fund?1) A long time frame is required, the idea is that given enough time (no matter great depression, financial bubbles and recession or even world wars), the market will always grow and push to a new peak. Of course one can argue the past","images":[],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":33,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046801829","isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000164","authorId":"9000000000000164","name":"HarryCox","avatar":"https://static.tigerbbs.com/4349551d5d3fb187ceb1f3fd738413a3","crmLevel":1,"crmLevelSwitch":0},"content":"Thanks for sharing the investment tips!!","text":"Thanks for sharing the investment tips!!","html":"Thanks for sharing the investment tips!!"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9984270235,"gmtCreate":1667666554027,"gmtModify":1676537949961,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"title":"Joel Greenblatt: The Little Book That Beats The Market","htmlText":"An extreme summarised version of the book in 10 points: 1) Most people should not attempt to invest in individual stocks. 2) 4 ways of dealing with cash on hand: put in bank, put in (nearly risk-free) government bonds, put in corporate bonds or invest in the stock market. 3) Whatever you do, as a rational investor, always invest at a rewards level higher than the risk-free rate. If the risk-free is 5%, make sure your expected returns from investing is higher than 5% to compensate for higher risks. 4) Key idea of the book is to buy GOOD COMPANIES @ BARGAIN PRICES. 5) GOOD COMPANIES i.e. companies who has a good return on capital (ROC) = EBIT/(net working capital + net fixed asset). The higher the ROC the better the company as it uses its capital more efficiently which implies a","listText":"An extreme summarised version of the book in 10 points: 1) Most people should not attempt to invest in individual stocks. 2) 4 ways of dealing with cash on hand: put in bank, put in (nearly risk-free) government bonds, put in corporate bonds or invest in the stock market. 3) Whatever you do, as a rational investor, always invest at a rewards level higher than the risk-free rate. If the risk-free is 5%, make sure your expected returns from investing is higher than 5% to compensate for higher risks. 4) Key idea of the book is to buy GOOD COMPANIES @ BARGAIN PRICES. 5) GOOD COMPANIES i.e. companies who has a good return on capital (ROC) = EBIT/(net working capital + net fixed asset). The higher the ROC the better the company as it uses its capital more efficiently which implies a","text":"An extreme summarised version of the book in 10 points: 1) Most people should not attempt to invest in individual stocks. 2) 4 ways of dealing with cash on hand: put in bank, put in (nearly risk-free) government bonds, put in corporate bonds or invest in the stock market. 3) Whatever you do, as a rational investor, always invest at a rewards level higher than the risk-free rate. If the risk-free is 5%, make sure your expected returns from investing is higher than 5% to compensate for higher risks. 4) Key idea of the book is to buy GOOD COMPANIES @ BARGAIN PRICES. 5) GOOD COMPANIES i.e. companies who has a good return on capital (ROC) = EBIT/(net working capital + net fixed asset). The higher the ROC the better the company as it uses its capital more efficiently which implies a","images":[],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":17,"commentSize":11,"repostSize":1,"link":"https://ttm.financial/post/9984270235","isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9038055588,"gmtCreate":1646701518104,"gmtModify":1676534152358,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"title":"Alibaba: worth the risk?","htmlText":"No: 1) Nobody knows how China's regulatory clam down will continue and in what manner and extent. Recently, chinese regulators says self-inspection within Ant \"almost done,\" but that issues remained to be investigated, without elaborating. This is as good as saying we might hit them further. Plus rumours of additional checks and recent clam down on Alibaba’s food delivery app Ele.me points to further pain going forward. 2) Don't downplay the effects of Jack Ma's comments and China's regulatory clam down in response as the end of story. Making a multi-billion company fail may be the message the authorities want to send out for would-be dissenters. Although I believe they are too big to fail, never say never….. 3) China's new data regulations may blunt Alibaba's data monopoly, and data is mo","listText":"No: 1) Nobody knows how China's regulatory clam down will continue and in what manner and extent. Recently, chinese regulators says self-inspection within Ant \"almost done,\" but that issues remained to be investigated, without elaborating. This is as good as saying we might hit them further. Plus rumours of additional checks and recent clam down on Alibaba’s food delivery app Ele.me points to further pain going forward. 2) Don't downplay the effects of Jack Ma's comments and China's regulatory clam down in response as the end of story. Making a multi-billion company fail may be the message the authorities want to send out for would-be dissenters. Although I believe they are too big to fail, never say never….. 3) China's new data regulations may blunt Alibaba's data monopoly, and data is mo","text":"No: 1) Nobody knows how China's regulatory clam down will continue and in what manner and extent. Recently, chinese regulators says self-inspection within Ant \"almost done,\" but that issues remained to be investigated, without elaborating. This is as good as saying we might hit them further. Plus rumours of additional checks and recent clam down on Alibaba’s food delivery app Ele.me points to further pain going forward. 2) Don't downplay the effects of Jack Ma's comments and China's regulatory clam down in response as the end of story. Making a multi-billion company fail may be the message the authorities want to send out for would-be dissenters. Although I believe they are too big to fail, never say never….. 3) China's new data regulations may blunt Alibaba's data monopoly, and data is mo","images":[],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9038055588","isVote":1,"tweetType":1,"viewCount":3296,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000185","authorId":"9000000000000185","name":"PatrickPatterson","avatar":"https://static.tigerbbs.com/56e720c7d3a4835efa4409feb9b8f386","crmLevel":1,"crmLevelSwitch":0},"content":"In my heart, Alibaba has always been an excellent company. I am optimistic about its development in the past, now and in the future.","text":"In my heart, Alibaba has always been an excellent company. I am optimistic about its development in the past, now and in the future.","html":"In my heart, Alibaba has always been an excellent company. I am optimistic about its development in the past, now and in the future."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9037638824,"gmtCreate":1648087833003,"gmtModify":1676534302803,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"The hardest thing to predict is oil prices in my opinion, there so many market movers that individually have a lot of sway over prices. Coupled with the unpredictablility of the politics surrounding oil countries.","listText":"The hardest thing to predict is oil prices in my opinion, there so many market movers that individually have a lot of sway over prices. Coupled with the unpredictablility of the politics surrounding oil countries.","text":"The hardest thing to predict is oil prices in my opinion, there so many market movers that individually have a lot of sway over prices. Coupled with the unpredictablility of the politics surrounding oil countries.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9037638824","repostId":"1116326470","repostType":4,"repost":{"id":"1116326470","pubTimestamp":1648087340,"share":"https://www.laohu8.com/m/news/1116326470?lang=&edition=full","pubTime":"2022-03-24 10:02","market":"other","language":"en","title":"ASX Update: Miners, Oilers Lead Reversal as Crude Tests US$123","url":"https://stock-news.laohu8.com/highlight/detail?id=1116326470","media":"themarketherald","summary":"Australian shares overcame soft leads and early weakness to rise for the sixth time in seven session","content":"<html><head></head><body><p>Australian shares overcame soft leads and early weakness to rise for the sixth time in seven sessions as surging commodity prices lifted miners and oil producers.</p><p>The <b>S&P/ASX 200</b> reached mid-session four points or 0.06 per cent ahead after earlier falling 22 points.</p><p>BHP, Rio Tinto, Newcrest and the oil majors led the turnaround. Gains were kept in check by declines in tech, banking and healthcare stocks.</p><p><b>What’s driving the market</b></p><p>Australia’s status as a resources powerhouse once again shielded the market. Leading overseas indices slumped overnight as rising prices inflamed worries about inflation and growth.</p><p>The <b>S&P 500</b> gave up 1.23 per cent. Europe’s Stoxx 600 index dropped 1.01 per cent.</p><p>“Statements from Russian president Putin that gas exports would now require rouble payment saw European gas prices jump 30%. A surprise drawdown of US crude oil inventories added to concerns around energy supply. Crude oil prices finished the session more than 5% higher, and energy stocks were among the few winners on many bourses,” Michael McCarthy, Chief Strategy Officer at Tiger Brokers Australia, said.</p><p><b>Oil</b>‘s breakneck rally continued. Brent crude rose US$1.56 or 1.3 per cent this morning to US$123.16 a barrel.</p><p>Industrial metals flew higher. The price of nickel reportedly jumped 17 per cent today in Shanghai.</p><p>Winners from the commodity surge ensured the ASX continued a rally that has lifted the benchmark more than 400 points in two and a half weeks. The <b>energy</b> sector climbed 1.81 per cent. Basic materials gained 1.34 per cent.</p><p>Not all market commentators are convinced by the recent rebound in equities. Clifford Bennett, chief economist at Sydney’s ACY Securities, believes equity markets are under-estimating the impact of the Ukraine war on the global economy.</p><p>“It is vitally important that investors consider the Ukraine war has not yet been fully priced by financial markets,” he said.</p><p>“It is highly likely Oil will exceed <b>$150 barrel</b> in the coming weeks and months. Just how high it can go is an open question?” he added.</p><p>“Higher sustained oil prices would generate on-going high inflation and much higher interest rates. This represents a major threat to the state of the global economy over the next 2-5 years.”</p><p>The day’s <b>economic data</b> confirmed the post-lockdown economic rebound remained on track. The composite business gauge from S&P Global climbed to 57.1 this month from 56.6 in February as both manufacturing and services-sector activity expanded. Readings above 50 indicate expanding activity.</p><p><b>Going up</b></p><p>The heavyweight mining and energy companies led the advance. Gold miner Newcrest bounced 3.1 per cent. Woodside Petroleum put on 3.13 per cent, Rio Tinto 2.74 per cent, BHP 2.22 per cent and Santos 2.12 per cent.</p><p>Lithium miner <b>AVZ Minerals</b> climbed 9.71 per cent to an all-time high. A 5.18 per cent advance catapulted <b>Whitehaven Coa</b>l to a level last seen in May 2019.</p><p>Strong sales growth through the third quarter lifted <b>JB Hi-F</b> 4.4 per cent. The retailer’s Australian outlets increased sales by 11.3 per cent. Sales at the company’s New Zealand shopfronts grew 2.9 per cent.</p><p>Telecommunications infrastructure firm <b>Uniti Group</b> climbed 0.64 per cent after confirming takeover interest from Macquarie Infrastructure and a Canadian pension fund. Uniti said the board was considered a non-binding incomplete and indicative offer to acquire the company at $5 per share.</p><p>A record half-year profit raised <b>Brickworks</b> 3.49 per cent. Statutory half-year net profit surged 720 per cent to $581 million, thanks in part to a one-off profit for the disposal of shares in Washington H. Soul Pattinson. Underlying profit increased 269 per cent to $330 million.</p><p><b>Washington H. Soul Pattinson</b> edged up 2.03 per cent after a result distorted by a goodwill impairment related to the acquisition of rival Milton last year. The investment house reported a $643.1 million first-half loss. Group regular profit (which excluded the impairment charge) jumped 281 per cent to $343.7 million.</p><p>A whiff of buying interest for <b>Southern Cross Media</b>‘s regional TV assets boosted the media group’s share price by 6.62 per cent. The company said it received unsolicited approaches from several parties, but none were binding or included prices. Grant Samuel was advising. The firm also announced a $40 million on-market share buyback.</p><p><b>NAB</b> inched up 0.03 per cent after completing a $2.5 billion on-market share buyback and announcing another for the same amount. The bank expects to launch the new buyback after reporting half-year results on May 5.</p><p><b>Going down</b></p><p>This week’s recovery in <b>growth stocks</b> stalled as risk appetite faded once again. Zip Co sagged 6.38 per cent, Life360 5.48 per cent and Block 4.19 per cent.</p><p>Most of the <b>banks</b> retreated as Australian yields backed off yesterday’s multi-year high. Macquarie Group dropped 1.24 per cent, ANZ 0.72 per cent, CBA 0.52 per cent and Westpac 0.02 per cent.</p><p><b>ResMed</b> skidded 3.65 per cent after warning supply-chain issues would make it hard to achieve full-year revenue targets. The company’s US-listed stock shed 8.65 per cent overnight.</p><p><b>Star Entertainment Group</b> dropped 0.77 per cent following allegations the group allowed a Chinese “junket” group accused of links to organised crime to run a private gaming room at Star’s Sydney casino.</p><p>Ali Dibadj will succeed Dick Weil as CEO of <b>Janus Henderson</b>. The asset manager’s share price fell 3.65 per cent during a weak session for the financial sector.</p><p><b>Other markets</b></p><p>The <b>Asia</b> Dow gave up 0.6 per cent. China’s Shanghai Composite dropped 0.52 per cent, Hong Kong’s Hang Seng 0.21 per cent and Japan’s Nikkei 1.19 per cent.</p><p><b>US futures</b> were unchanged.</p><p><b>Gold</b> rose US$6.70 or 0.35 per cent to US$1,944 an ounce.</p><p>The <b>dollar</b> eased after breaking 75 US cents overnight for the first time in five months. The Aussie dipped 0.1 per cent to 74.93 US cents.</p></body></html>","source":"lsy1645077863021","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>ASX Update: Miners, Oilers Lead Reversal as Crude Tests US$123</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\">\nASX Update: Miners, Oilers Lead Reversal as Crude Tests US$123\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-24 10:02 GMT+8 <a href=https://themarketherald.com.au/asx-update-miners-oilers-lead-reversal-as-crude-tests-us123-2022-03-24/><strong>themarketherald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Australian shares overcame soft leads and early weakness to rise for the sixth time in seven sessions as surging commodity prices lifted miners and oil producers.The S&P/ASX 200 reached mid-session ...</p>\n\n<a href=\"https://themarketherald.com.au/asx-update-miners-oilers-lead-reversal-as-crude-tests-us123-2022-03-24/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SXL.AU":"SOUTHERN CROSS MEDIA GROUP L","BKW.AU":"BRICKWORKS LIMITED","JHG.AU":"Janus Henderson DRC","NAB.AU":"NATIONAL AUSTRALIA BANK LTD","SGR.AU":"STAR ENTERTAINMENT GRP LTD/T","JBH.AU":"JB HI-FI LTD","XAO.AU":"标普/澳交所 普通股指数","XKO.AU":"标普/澳交所 300指数","XJO.AU":"标普/澳交所 200指数","AVZ.AU":"Avz Minerals Ltd","SOL.AU":"WASHINGTON H. SOUL PATTINSON","RMD.AU":"Resmed DRC"},"source_url":"https://themarketherald.com.au/asx-update-miners-oilers-lead-reversal-as-crude-tests-us123-2022-03-24/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116326470","content_text":"Australian shares overcame soft leads and early weakness to rise for the sixth time in seven sessions as surging commodity prices lifted miners and oil producers.The S&P/ASX 200 reached mid-session four points or 0.06 per cent ahead after earlier falling 22 points.BHP, Rio Tinto, Newcrest and the oil majors led the turnaround. Gains were kept in check by declines in tech, banking and healthcare stocks.What’s driving the marketAustralia’s status as a resources powerhouse once again shielded the market. Leading overseas indices slumped overnight as rising prices inflamed worries about inflation and growth.The S&P 500 gave up 1.23 per cent. Europe’s Stoxx 600 index dropped 1.01 per cent.“Statements from Russian president Putin that gas exports would now require rouble payment saw European gas prices jump 30%. A surprise drawdown of US crude oil inventories added to concerns around energy supply. Crude oil prices finished the session more than 5% higher, and energy stocks were among the few winners on many bourses,” Michael McCarthy, Chief Strategy Officer at Tiger Brokers Australia, said.Oil‘s breakneck rally continued. Brent crude rose US$1.56 or 1.3 per cent this morning to US$123.16 a barrel.Industrial metals flew higher. The price of nickel reportedly jumped 17 per cent today in Shanghai.Winners from the commodity surge ensured the ASX continued a rally that has lifted the benchmark more than 400 points in two and a half weeks. The energy sector climbed 1.81 per cent. Basic materials gained 1.34 per cent.Not all market commentators are convinced by the recent rebound in equities. Clifford Bennett, chief economist at Sydney’s ACY Securities, believes equity markets are under-estimating the impact of the Ukraine war on the global economy.“It is vitally important that investors consider the Ukraine war has not yet been fully priced by financial markets,” he said.“It is highly likely Oil will exceed $150 barrel in the coming weeks and months. Just how high it can go is an open question?” he added.“Higher sustained oil prices would generate on-going high inflation and much higher interest rates. This represents a major threat to the state of the global economy over the next 2-5 years.”The day’s economic data confirmed the post-lockdown economic rebound remained on track. The composite business gauge from S&P Global climbed to 57.1 this month from 56.6 in February as both manufacturing and services-sector activity expanded. Readings above 50 indicate expanding activity.Going upThe heavyweight mining and energy companies led the advance. Gold miner Newcrest bounced 3.1 per cent. Woodside Petroleum put on 3.13 per cent, Rio Tinto 2.74 per cent, BHP 2.22 per cent and Santos 2.12 per cent.Lithium miner AVZ Minerals climbed 9.71 per cent to an all-time high. A 5.18 per cent advance catapulted Whitehaven Coal to a level last seen in May 2019.Strong sales growth through the third quarter lifted JB Hi-F 4.4 per cent. The retailer’s Australian outlets increased sales by 11.3 per cent. Sales at the company’s New Zealand shopfronts grew 2.9 per cent.Telecommunications infrastructure firm Uniti Group climbed 0.64 per cent after confirming takeover interest from Macquarie Infrastructure and a Canadian pension fund. Uniti said the board was considered a non-binding incomplete and indicative offer to acquire the company at $5 per share.A record half-year profit raised Brickworks 3.49 per cent. Statutory half-year net profit surged 720 per cent to $581 million, thanks in part to a one-off profit for the disposal of shares in Washington H. Soul Pattinson. Underlying profit increased 269 per cent to $330 million.Washington H. Soul Pattinson edged up 2.03 per cent after a result distorted by a goodwill impairment related to the acquisition of rival Milton last year. The investment house reported a $643.1 million first-half loss. Group regular profit (which excluded the impairment charge) jumped 281 per cent to $343.7 million.A whiff of buying interest for Southern Cross Media‘s regional TV assets boosted the media group’s share price by 6.62 per cent. The company said it received unsolicited approaches from several parties, but none were binding or included prices. Grant Samuel was advising. The firm also announced a $40 million on-market share buyback.NAB inched up 0.03 per cent after completing a $2.5 billion on-market share buyback and announcing another for the same amount. The bank expects to launch the new buyback after reporting half-year results on May 5.Going downThis week’s recovery in growth stocks stalled as risk appetite faded once again. Zip Co sagged 6.38 per cent, Life360 5.48 per cent and Block 4.19 per cent.Most of the banks retreated as Australian yields backed off yesterday’s multi-year high. Macquarie Group dropped 1.24 per cent, ANZ 0.72 per cent, CBA 0.52 per cent and Westpac 0.02 per cent.ResMed skidded 3.65 per cent after warning supply-chain issues would make it hard to achieve full-year revenue targets. The company’s US-listed stock shed 8.65 per cent overnight.Star Entertainment Group dropped 0.77 per cent following allegations the group allowed a Chinese “junket” group accused of links to organised crime to run a private gaming room at Star’s Sydney casino.Ali Dibadj will succeed Dick Weil as CEO of Janus Henderson. The asset manager’s share price fell 3.65 per cent during a weak session for the financial sector.Other marketsThe Asia Dow gave up 0.6 per cent. China’s Shanghai Composite dropped 0.52 per cent, Hong Kong’s Hang Seng 0.21 per cent and Japan’s Nikkei 1.19 per cent.US futures were unchanged.Gold rose US$6.70 or 0.35 per cent to US$1,944 an ounce.The dollar eased after breaking 75 US cents overnight for the first time in five months. The Aussie dipped 0.1 per cent to 74.93 US cents.","news_type":1},"isVote":1,"tweetType":1,"viewCount":307,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032131425,"gmtCreate":1647303653151,"gmtModify":1676534213898,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"U can think of berkshire as if they are a diversified index fund but having a lower fee (:","listText":"U can think of berkshire as if they are a diversified index fund but having a lower fee (:","text":"U can think of berkshire as if they are a diversified index fund but having a lower fee (:","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032131425","repostId":"2219067542","repostType":4,"repost":{"id":"2219067542","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647301883,"share":"https://www.laohu8.com/m/news/2219067542?lang=&edition=full","pubTime":"2022-03-15 07:51","market":"us","language":"en","title":"Berkshire Hathaway Stock Price Reaches $500,000 for the First Time on Monday","url":"https://stock-news.laohu8.com/highlight/detail?id=2219067542","media":"Reuters","summary":"March 14 (Reuters) - The share price of Warren Buffett's Berkshire Hathaway Inc reached $500,000 for","content":"<html><head></head><body><p>March 14 (Reuters) - The share price of Warren Buffett's Berkshire Hathaway Inc reached $500,000 for the first time on Monday, reflecting the company's status as a defensive stock in a market unsettled by events in Ukraine and rising inflation.</p><p>Berkshire's Class A shares have risen 10% in 2022, outpacing the Standard & Poor's 500 index, which has fallen 12%.</p><p>The Omaha, Nebraska-based company's market value is approximately $731 billion, ranking sixth in the United States, and Buffett's 16.2% stake makes him the world's fifth-richest person at $119.2 billion, according to Forbes magazine.</p><p>Berkshire generated a record $27.46 billion of operating profit last year, including gains at Geico car insurance, the BNSF railroad and Berkshire Hathaway Energy.</p><p>It also owns dozens of other businesses, including the fast-growing Clayton Homes mobile home unit and the largest U.S. residential real estate brokerage.</p><p>Berkshire specializes in "on the ground, Main Street-esque business activity," said Bill Smead, chief executive of Smead Capital Management Inc in Phoenix, which invests about $4.3 billion and owns Berkshire stock.</p><p>"They're big and they're not a tech stock, and investors get comfort from that."</p><p>Berkshire shares also slightly outperformed the S&P 500 in 2021, after lagging in 2019 and 2020. They closed up 0.8% on Monday at $493,785.</p><p>Most Berkshire operating units focus on the United States, and about 77% of its approximately 372,000 employees work there.</p><p>Among those expanding elsewhere is Dairy Queen, which plans by 2030 to add 600 stores in China, already its largest market outside the United States.</p><p>Berkshire traded below $20 when Buffett took over the then-struggling textile company in 1965. Its Class B shares are worth about 1/1500th of Class A shares.</p><p>U.S. companies with larger market capitalizations include Apple Inc, Microsoft Corp, Alphabet Inc, Amazon.com Inc and Tesla Inc. Apple is also Berkshire's largest common stock holding.</p><p>Berkshire ended 2021 with $146.7 billion in cash, though it has since invested well over $5 billion in Occidental Petroleum Corp as oil prices soared.</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>Berkshire Hathaway Stock Price Reaches $500,000 for the First Time on Monday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBerkshire Hathaway Stock Price Reaches $500,000 for the First Time on Monday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-15 07:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>March 14 (Reuters) - The share price of Warren Buffett's Berkshire Hathaway Inc reached $500,000 for the first time on Monday, reflecting the company's status as a defensive stock in a market unsettled by events in Ukraine and rising inflation.</p><p>Berkshire's Class A shares have risen 10% in 2022, outpacing the Standard & Poor's 500 index, which has fallen 12%.</p><p>The Omaha, Nebraska-based company's market value is approximately $731 billion, ranking sixth in the United States, and Buffett's 16.2% stake makes him the world's fifth-richest person at $119.2 billion, according to Forbes magazine.</p><p>Berkshire generated a record $27.46 billion of operating profit last year, including gains at Geico car insurance, the BNSF railroad and Berkshire Hathaway Energy.</p><p>It also owns dozens of other businesses, including the fast-growing Clayton Homes mobile home unit and the largest U.S. residential real estate brokerage.</p><p>Berkshire specializes in "on the ground, Main Street-esque business activity," said Bill Smead, chief executive of Smead Capital Management Inc in Phoenix, which invests about $4.3 billion and owns Berkshire stock.</p><p>"They're big and they're not a tech stock, and investors get comfort from that."</p><p>Berkshire shares also slightly outperformed the S&P 500 in 2021, after lagging in 2019 and 2020. They closed up 0.8% on Monday at $493,785.</p><p>Most Berkshire operating units focus on the United States, and about 77% of its approximately 372,000 employees work there.</p><p>Among those expanding elsewhere is Dairy Queen, which plans by 2030 to add 600 stores in China, already its largest market outside the United States.</p><p>Berkshire traded below $20 when Buffett took over the then-struggling textile company in 1965. Its Class B shares are worth about 1/1500th of Class A shares.</p><p>U.S. companies with larger market capitalizations include Apple Inc, Microsoft Corp, Alphabet Inc, Amazon.com Inc and Tesla Inc. Apple is also Berkshire's largest common stock holding.</p><p>Berkshire ended 2021 with $146.7 billion in cash, though it has since invested well over $5 billion in Occidental Petroleum Corp as oil prices soared.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ONTF":"ON24, Inc.","BK4566":"资本集团","SANA":"Sana Biotechnology, Inc.","BK4548":"巴美列捷福持仓","BK4554":"元宇宙及AR概念","BK4581":"高盛持仓","BK4514":"搜索引擎","LHDX":"Lucira Health, Inc.","BRK.A":"伯克希尔","BK4176":"多领域控股","BK4525":"远程办公概念","BRK.B":"伯克希尔B","BK4579":"人工智能","BK4023":"应用软件","BK4553":"喜马拉雅资本持仓","BK4550":"红杉资本持仓","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4007":"制药","CGEM":"Cullinan Therapeutics","LABP":"Landos Biopharma, Inc.","BK4196":"保健护理服务","BK4082":"医疗保健设备","BK4077":"互动媒体与服务","BK4527":"明星科技股"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2219067542","content_text":"March 14 (Reuters) - The share price of Warren Buffett's Berkshire Hathaway Inc reached $500,000 for the first time on Monday, reflecting the company's status as a defensive stock in a market unsettled by events in Ukraine and rising inflation.Berkshire's Class A shares have risen 10% in 2022, outpacing the Standard & Poor's 500 index, which has fallen 12%.The Omaha, Nebraska-based company's market value is approximately $731 billion, ranking sixth in the United States, and Buffett's 16.2% stake makes him the world's fifth-richest person at $119.2 billion, according to Forbes magazine.Berkshire generated a record $27.46 billion of operating profit last year, including gains at Geico car insurance, the BNSF railroad and Berkshire Hathaway Energy.It also owns dozens of other businesses, including the fast-growing Clayton Homes mobile home unit and the largest U.S. residential real estate brokerage.Berkshire specializes in \"on the ground, Main Street-esque business activity,\" said Bill Smead, chief executive of Smead Capital Management Inc in Phoenix, which invests about $4.3 billion and owns Berkshire stock.\"They're big and they're not a tech stock, and investors get comfort from that.\"Berkshire shares also slightly outperformed the S&P 500 in 2021, after lagging in 2019 and 2020. They closed up 0.8% on Monday at $493,785.Most Berkshire operating units focus on the United States, and about 77% of its approximately 372,000 employees work there.Among those expanding elsewhere is Dairy Queen, which plans by 2030 to add 600 stores in China, already its largest market outside the United States.Berkshire traded below $20 when Buffett took over the then-struggling textile company in 1965. Its Class B shares are worth about 1/1500th of Class A shares.U.S. companies with larger market capitalizations include Apple Inc, Microsoft Corp, Alphabet Inc, Amazon.com Inc and Tesla Inc. Apple is also Berkshire's largest common stock holding.Berkshire ended 2021 with $146.7 billion in cash, though it has since invested well over $5 billion in Occidental Petroleum Corp as oil prices soared.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035638104,"gmtCreate":1647576339149,"gmtModify":1676534246894,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Her holdings are growth stocks that take time to mature. Rather than trading it short term, makes more sense to invest on a LT basis.","listText":"Her holdings are growth stocks that take time to mature. Rather than trading it short term, makes more sense to invest on a LT basis.","text":"Her holdings are growth stocks that take time to mature. Rather than trading it short term, makes more sense to invest on a LT basis.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035638104","repostId":"2220742724","repostType":4,"repost":{"id":"2220742724","pubTimestamp":1647572281,"share":"https://www.laohu8.com/m/news/2220742724?lang=&edition=full","pubTime":"2022-03-18 10:58","market":"us","language":"en","title":"Cathie Wood’s ARKK Suffers as Two-Thirds of Its Holdings Fell to 52-Week Lows This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2220742724","media":"seekingalpha","summary":"MicroPixieStock/iStock via Getty ImagesThe bloodbath for Cathie Wood’s ARK Innovation Pacer Swan SOS","content":"<html><head></head><body><p></p><p><img src=\"https://static.tigerbbs.com/8a83e554c7c548c1a7fb34312878de30\" tg-width=\"750\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/></p><p>MicroPixieStock/iStock via Getty Images</p><p></p><p>The bloodbath for Cathie Wood’s ARK Innovation <a href=\"https://laohu8.com/S/PSFF\">Pacer Swan SOS Fund of Funds ETF|ETF</a> (NYSEARCA:ARKK) continues, despite the fund being up slightly on Thursday. Wood’s ETF is -36% YTD and is currently working towards its fifth straight downward month. Meanwhile, this week has been particularly difficult, as 23 of its 35 holdings fell to 52-week trading lows -- about two-thirds of the total.</p><p>This spiral has taken a heavy toll on some of ARKK’s biggest holdings. Eight of the stocks hitting yearly trading lows fall inside ARKK’s top 10 weighted positions, which have a combined representation of 42.6%. Additionally, some of ARKK’s holdings also plummeted to record trading lows as well, and some just missed yearly lows but hovered near them.</p><p>Below is a list of the 23 stocks Wood and ARKK hold that have plunged to 52-week lows this week:</p><p><i>(TDOC), (ROKU), (ZM), (COIN), (EXAS), (U), (TWLO), (PATH), (SPOT), (BEAM), (SHOP), (DKNG), (FATE), (PD), (TXG), (RBLX), (NVTA), (PACB), (VCYT), (SE), (DNA), (TWST), (TSP)</i>.</p><p>As the first quarter of the year is approaching its conclusion, 34 of the 35 ARKK holdings sit in negative territory year-to-date. <a href=\"https://laohu8.com/S/SGFY\">Signify Health, Inc.</a> (SGFY) is the ETFs lone bright spot in 2022 as the stock is +23.6%. That said, the stock is down 24% over the past six months and -41.8% over a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-year period.</p><p>ARKK’s worst-performing stock on the year is TuSimple Holdings, which is -66.1% in 2022 and holds a 0.90% weighting in ARKK. Furthermore, 30 of the 36 holdings are sub 20% this year as well.</p><p>Below is a spreadsheet of ARKK and its year-to-date performance, along with each of its holdings in weighted order with their year-to-date performance. See also how Wood’s innovative fund matched up with the household QQQ ETF.</p><p><img src=\"https://static.tigerbbs.com/6fb51e31d40bf7fe31b54b38176b0615\" tg-width=\"452\" tg-height=\"825\" referrerpolicy=\"no-referrer\"/></p></body></html>","source":"lsy1642056764450","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>Cathie Wood’s ARKK Suffers as Two-Thirds of Its Holdings Fell to 52-Week Lows 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\">\nCathie Wood’s ARKK Suffers as Two-Thirds of Its Holdings Fell to 52-Week Lows This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-18 10:58 GMT+8 <a href=https://seekingalpha.com/news/3814663-cathie-woods-arkk-suffers-as-23-of-its-35-holdings-fell-to-52-week-lows-this-week><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MicroPixieStock/iStock via Getty ImagesThe bloodbath for Cathie Wood’s ARK Innovation Pacer Swan SOS Fund of Funds ETF|ETF (NYSEARCA:ARKK) continues, despite the fund being up slightly on Thursday. ...</p>\n\n<a href=\"https://seekingalpha.com/news/3814663-cathie-woods-arkk-suffers-as-23-of-its-35-holdings-fell-to-52-week-lows-this-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF"},"source_url":"https://seekingalpha.com/news/3814663-cathie-woods-arkk-suffers-as-23-of-its-35-holdings-fell-to-52-week-lows-this-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2220742724","content_text":"MicroPixieStock/iStock via Getty ImagesThe bloodbath for Cathie Wood’s ARK Innovation Pacer Swan SOS Fund of Funds ETF|ETF (NYSEARCA:ARKK) continues, despite the fund being up slightly on Thursday. Wood’s ETF is -36% YTD and is currently working towards its fifth straight downward month. Meanwhile, this week has been particularly difficult, as 23 of its 35 holdings fell to 52-week trading lows -- about two-thirds of the total.This spiral has taken a heavy toll on some of ARKK’s biggest holdings. Eight of the stocks hitting yearly trading lows fall inside ARKK’s top 10 weighted positions, which have a combined representation of 42.6%. Additionally, some of ARKK’s holdings also plummeted to record trading lows as well, and some just missed yearly lows but hovered near them.Below is a list of the 23 stocks Wood and ARKK hold that have plunged to 52-week lows this week:(TDOC), (ROKU), (ZM), (COIN), (EXAS), (U), (TWLO), (PATH), (SPOT), (BEAM), (SHOP), (DKNG), (FATE), (PD), (TXG), (RBLX), (NVTA), (PACB), (VCYT), (SE), (DNA), (TWST), (TSP).As the first quarter of the year is approaching its conclusion, 34 of the 35 ARKK holdings sit in negative territory year-to-date. Signify Health, Inc. (SGFY) is the ETFs lone bright spot in 2022 as the stock is +23.6%. That said, the stock is down 24% over the past six months and -41.8% over a one-year period.ARKK’s worst-performing stock on the year is TuSimple Holdings, which is -66.1% in 2022 and holds a 0.90% weighting in ARKK. Furthermore, 30 of the 36 holdings are sub 20% this year as well.Below is a spreadsheet of ARKK and its year-to-date performance, along with each of its holdings in weighted order with their year-to-date performance. See also how Wood’s innovative fund matched up with the household QQQ ETF.","news_type":1},"isVote":1,"tweetType":1,"viewCount":371,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000601","authorId":"9000000000000601","name":"ElvisMarner","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0},"content":"Is investing in growth stocks a good option during a rate hike cycle? I prefer to invest in banking stocks and insurance stocks.","text":"Is investing in growth stocks a good option during a rate hike cycle? I prefer to invest in banking stocks and insurance stocks.","html":"Is investing in growth stocks a good option during a rate hike cycle? I prefer to invest in banking stocks and insurance stocks."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9915266174,"gmtCreate":1665049762398,"gmtModify":1676537549411,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9915266174","repostId":"2273387298","repostType":4,"repost":{"id":"2273387298","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1665045975,"share":"https://www.laohu8.com/m/news/2273387298?lang=&edition=full","pubTime":"2022-10-06 16:46","market":"us","language":"en","title":"Pinterest, Ford, Shell, Costco And More: U.S. Stocks To Watch","url":"https://stock-news.laohu8.com/highlight/detail?id=2273387298","media":"Benzinga","summary":"With US stock futures trading slightly lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:","content":"<html><head></head><body><p>With US stock futures trading slightly lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:</p><ul><li>Goldman Sachs analyst Eric Sheridan upgraded <b>Pinterest </b>(NYSE:PINS) to Buy from Neutral with a price target of $31, up from $24. Pinterest shares rose 3.7% to $25.55 in aftermarket trading Thursday.</li></ul><ul><li><b>Shell</b> (NYSE:SHEL) said on Thursday its third-quarter profits would be pressured by a near halving of oil refining margins, crumbling chemical margins and weaker natural gas trading. Shell shares slid 4.4% to $51.64 in premarket trading Thursday.</li></ul><ul><li><b>Costco Wholesale Corporation</b> (NASDAQ:COST) reported an 8.5% year-over-year surge in comparable sales for September. Its net sales for the retail month of September, the five weeks ended October 2, 2022, jumped 10.1% year-over-year to $21.46 billion during the month. Costco shares rose 0.1% to $480.80 in the pre-market trading Thursday.</li></ul><ul><li><b>Ford Motor Company</b> (NYSE:F) is reportedly raising the price of its electric truck F-150 Lightning Pro for its 2023 model by close to 11%, in a bid to soften the hit from ongoing supply chain snags and decades-high inflation, Reuters reported. Ford shares fell 0.7% to $12.42 in pre-market trading Thursday.</li></ul><ul><li>Wall Street expects <b>Constellation Brands, Inc.</b> (NYSE:STZ) to report quarterly earnings at $2.81 per share on revenue of $2.51 billion before the opening bell. Constellation Brands shares rose 1.1% to $238.45 in after-hours trading Wednesday.</li></ul><ul><li>Analysts are expecting <b>Conagra Brands, Inc.</b> (NYSE:CAG) to have earned $0.52 per share on revenue of $2.85 billion for the latest quarter. The company will release earnings before the markets open. Conagra shares gained 0.3% to $33.90 in after-hours trading Wednesday.</li></ul><ul><li>Analysts expect <b>McCormick & Company, Incorporated</b> (NYSE:MKC) to post quarterly earnings at $0.94 per share on revenue of $1.78 billion before the opening bell. McCormick shares fell 1.1% to $72.50 in after-hours trading Wednesday.</li></ul></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pinterest, Ford, Shell, Costco And More: U.S. Stocks To Watch</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\">\nPinterest, Ford, Shell, Costco And More: U.S. Stocks To Watch\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2022-10-06 16:46</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>With US stock futures trading slightly lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:</p><ul><li>Goldman Sachs analyst Eric Sheridan upgraded <b>Pinterest </b>(NYSE:PINS) to Buy from Neutral with a price target of $31, up from $24. Pinterest shares rose 3.7% to $25.55 in aftermarket trading Thursday.</li></ul><ul><li><b>Shell</b> (NYSE:SHEL) said on Thursday its third-quarter profits would be pressured by a near halving of oil refining margins, crumbling chemical margins and weaker natural gas trading. Shell shares slid 4.4% to $51.64 in premarket trading Thursday.</li></ul><ul><li><b>Costco Wholesale Corporation</b> (NASDAQ:COST) reported an 8.5% year-over-year surge in comparable sales for September. Its net sales for the retail month of September, the five weeks ended October 2, 2022, jumped 10.1% year-over-year to $21.46 billion during the month. Costco shares rose 0.1% to $480.80 in the pre-market trading Thursday.</li></ul><ul><li><b>Ford Motor Company</b> (NYSE:F) is reportedly raising the price of its electric truck F-150 Lightning Pro for its 2023 model by close to 11%, in a bid to soften the hit from ongoing supply chain snags and decades-high inflation, Reuters reported. Ford shares fell 0.7% to $12.42 in pre-market trading Thursday.</li></ul><ul><li>Wall Street expects <b>Constellation Brands, Inc.</b> (NYSE:STZ) to report quarterly earnings at $2.81 per share on revenue of $2.51 billion before the opening bell. Constellation Brands shares rose 1.1% to $238.45 in after-hours trading Wednesday.</li></ul><ul><li>Analysts are expecting <b>Conagra Brands, Inc.</b> (NYSE:CAG) to have earned $0.52 per share on revenue of $2.85 billion for the latest quarter. The company will release earnings before the markets open. Conagra shares gained 0.3% to $33.90 in after-hours trading Wednesday.</li></ul><ul><li>Analysts expect <b>McCormick & Company, Incorporated</b> (NYSE:MKC) to post quarterly earnings at $0.94 per share on revenue of $1.78 billion before the opening bell. McCormick shares fell 1.1% to $72.50 in after-hours trading Wednesday.</li></ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAG":"康尼格拉","MKC":"味好美","F":"福特汽车","STZ":"星座品牌","SHEL":"SHELL PLC SPON ADS EACH REPR 2 ORD SHS","COST":"好市多","PINS":"Pinterest, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2273387298","content_text":"With US stock futures trading slightly lower this morning on Thursday, some of the stocks that may grab investor focus today are as follows:Goldman Sachs analyst Eric Sheridan upgraded Pinterest (NYSE:PINS) to Buy from Neutral with a price target of $31, up from $24. Pinterest shares rose 3.7% to $25.55 in aftermarket trading Thursday.Shell (NYSE:SHEL) said on Thursday its third-quarter profits would be pressured by a near halving of oil refining margins, crumbling chemical margins and weaker natural gas trading. Shell shares slid 4.4% to $51.64 in premarket trading Thursday.Costco Wholesale Corporation (NASDAQ:COST) reported an 8.5% year-over-year surge in comparable sales for September. Its net sales for the retail month of September, the five weeks ended October 2, 2022, jumped 10.1% year-over-year to $21.46 billion during the month. Costco shares rose 0.1% to $480.80 in the pre-market trading Thursday.Ford Motor Company (NYSE:F) is reportedly raising the price of its electric truck F-150 Lightning Pro for its 2023 model by close to 11%, in a bid to soften the hit from ongoing supply chain snags and decades-high inflation, Reuters reported. Ford shares fell 0.7% to $12.42 in pre-market trading Thursday.Wall Street expects Constellation Brands, Inc. (NYSE:STZ) to report quarterly earnings at $2.81 per share on revenue of $2.51 billion before the opening bell. Constellation Brands shares rose 1.1% to $238.45 in after-hours trading Wednesday.Analysts are expecting Conagra Brands, Inc. (NYSE:CAG) to have earned $0.52 per share on revenue of $2.85 billion for the latest quarter. The company will release earnings before the markets open. Conagra shares gained 0.3% to $33.90 in after-hours trading Wednesday.Analysts expect McCormick & Company, Incorporated (NYSE:MKC) to post quarterly earnings at $0.94 per share on revenue of $1.78 billion before the opening bell. McCormick shares fell 1.1% to $72.50 in after-hours trading Wednesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9031858005,"gmtCreate":1646528146588,"gmtModify":1676534136456,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Based on new sources: conflict/war = higher commodity prices (inflation) = higher possibility of interest rate hikes = bad for equities. Wonder who really go dig up historical records for this and examine whether it is true.","listText":"Based on new sources: conflict/war = higher commodity prices (inflation) = higher possibility of interest rate hikes = bad for equities. Wonder who really go dig up historical records for this and examine whether it is true.","text":"Based on new sources: conflict/war = higher commodity prices (inflation) = higher possibility of interest rate hikes = bad for equities. Wonder who really go dig up historical records for this and examine whether it is true.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9031858005","repostId":"2217746440","repostType":4,"repost":{"id":"2217746440","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1646435363,"share":"https://www.laohu8.com/m/news/2217746440?lang=&edition=full","pubTime":"2022-03-05 07:09","market":"us","language":"en","title":"US STOCKS-Wall Street Ends down as Ukraine Fears Eclipse Solid Jobs Data","url":"https://stock-news.laohu8.com/highlight/detail?id=2217746440","media":"Reuters","summary":"Wall Street ended lower on Friday as the war in Ukraine overshadowed an acceleration in U.S. jobs growth last month that pointed to strength in the economy.Most of the 11 major S&P sector indexes decl","content":"<html><head></head><body><p>Wall Street ended lower on Friday as the war in Ukraine overshadowed an acceleration in U.S. jobs growth last month that pointed to strength in the economy.</p><p>Most of the 11 major S&P sector indexes declined, with financials leading the way with a 2% drop as investors worried about how the West's sanctions against Moscow may affect the international financial system.</p><p>The S&P 500 banks index fell 3.35%, bringing its loss for the week to nearly 9%, its worst weekly decline since June 2020.</p><p>Equities globally were weaker, with safe-haven assets in demand after Russian forces seized Europe's biggest nuclear power plant in what Washington called a reckless assault that risked catastrophe.</p><p>The Labor Department's closely watched employment report showed jobs grew by a more than expected 678,000 last month and that the unemployment rate fell to 3.8%, the lowest since February 2020.</p><p>"Three or four weeks ago, we would have thought that this is an incredibly important number. But given the backdrop and the overall events that are happening in Europe, it's just not," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte.</p><p>"The potential for escalation in the hot war, the potential for a growth impact in Europe and more broadly, and knock-on effects on the commodity channel and inflation are taking up all of investors' time and energy," Hill said.</p><p>Amazon.com Inc , Apple Inc, Google owner-Alphabet Inc and Microsoft Corp all lost more than 1%.</p><p>The crisis in Ukraine boosted energy stocks as crude prices and other commodities rallied on the back of sanctions against Russia, a major oil producer. The S&P 500 energy sector jumped 2.85% and gained about 9% for the week.</p><p>Richly valued growth stocks have faced the brunt of the recent selloff, with the S&P 500 growth index down 1.3% on Friday. The value index declined 0.3%.</p><p>The Dow Jones Industrial Average fell 0.53% to end at 33,614.8 points, while the S&P 500 lost 0.79% to 4,328.87.</p><p>The Nasdaq Composite dropped 1.66% to 13,313.44.</p><p>For the week, the S&P 500 and Dow both fell 1.3%, while the Nasdaq gave up 2.8%.</p><p>Federal Reserve Chair Jerome Powell said this week he would support a 25-basis-point interest rate increase at the central bank's March 15-16 policy meeting and would be "prepared to move more aggressively" later if inflation does not abate as fast as expected.</p><p>Soaring commodity prices have raised fears of even greater inflation, which could prompt the Fed to hike interest rates more aggressively.</p><p>Shares of WW International, formerly Weight Watchers, dropped over 8% after the Federal Trade Commission said the company "illegally" collected personal information from children without parental permission.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.12-to-1 ratio; on Nasdaq, a 2.70-to-1 ratio favored decliners.</p><p>The S&P 500 posted 38 new 52-week highs and 27 new lows; the Nasdaq Composite recorded 44 new highs and 406 new lows.</p><p>Volume on U.S. exchanges was 13.9 billion shares, compared to a 20-day average of 12.6 billion, according to Refinitiv data.</p><p></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>US STOCKS-Wall Street Ends down as Ukraine Fears Eclipse Solid Jobs Data</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Ends down as Ukraine Fears Eclipse Solid Jobs Data\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-05 07:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Wall Street ended lower on Friday as the war in Ukraine overshadowed an acceleration in U.S. jobs growth last month that pointed to strength in the economy.</p><p>Most of the 11 major S&P sector indexes declined, with financials leading the way with a 2% drop as investors worried about how the West's sanctions against Moscow may affect the international financial system.</p><p>The S&P 500 banks index fell 3.35%, bringing its loss for the week to nearly 9%, its worst weekly decline since June 2020.</p><p>Equities globally were weaker, with safe-haven assets in demand after Russian forces seized Europe's biggest nuclear power plant in what Washington called a reckless assault that risked catastrophe.</p><p>The Labor Department's closely watched employment report showed jobs grew by a more than expected 678,000 last month and that the unemployment rate fell to 3.8%, the lowest since February 2020.</p><p>"Three or four weeks ago, we would have thought that this is an incredibly important number. But given the backdrop and the overall events that are happening in Europe, it's just not," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte.</p><p>"The potential for escalation in the hot war, the potential for a growth impact in Europe and more broadly, and knock-on effects on the commodity channel and inflation are taking up all of investors' time and energy," Hill said.</p><p>Amazon.com Inc , Apple Inc, Google owner-Alphabet Inc and Microsoft Corp all lost more than 1%.</p><p>The crisis in Ukraine boosted energy stocks as crude prices and other commodities rallied on the back of sanctions against Russia, a major oil producer. The S&P 500 energy sector jumped 2.85% and gained about 9% for the week.</p><p>Richly valued growth stocks have faced the brunt of the recent selloff, with the S&P 500 growth index down 1.3% on Friday. The value index declined 0.3%.</p><p>The Dow Jones Industrial Average fell 0.53% to end at 33,614.8 points, while the S&P 500 lost 0.79% to 4,328.87.</p><p>The Nasdaq Composite dropped 1.66% to 13,313.44.</p><p>For the week, the S&P 500 and Dow both fell 1.3%, while the Nasdaq gave up 2.8%.</p><p>Federal Reserve Chair Jerome Powell said this week he would support a 25-basis-point interest rate increase at the central bank's March 15-16 policy meeting and would be "prepared to move more aggressively" later if inflation does not abate as fast as expected.</p><p>Soaring commodity prices have raised fears of even greater inflation, which could prompt the Fed to hike interest rates more aggressively.</p><p>Shares of WW International, formerly Weight Watchers, dropped over 8% after the Federal Trade Commission said the company "illegally" collected personal information from children without parental permission.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.12-to-1 ratio; on Nasdaq, a 2.70-to-1 ratio favored decliners.</p><p>The S&P 500 posted 38 new 52-week highs and 27 new lows; the Nasdaq Composite recorded 44 new highs and 406 new lows.</p><p>Volume on U.S. exchanges was 13.9 billion shares, compared to a 20-day average of 12.6 billion, according to Refinitiv data.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","DDM":"道指两倍做多ETF","BK4514":"搜索引擎","SH":"标普500反向ETF","SQQQ":"纳指三倍做空ETF","LABP":"Landos Biopharma, Inc.","DOG":"道指反向ETF","SSO":"两倍做多标普500ETF","CGEM":"Cullinan Therapeutics","BK4554":"元宇宙及AR概念",".IXIC":"NASDAQ Composite","BK4532":"文艺复兴科技持仓","DXD":"道指两倍做空ETF","SPXU":"三倍做空标普500ETF","BK4553":"喜马拉雅资本持仓","GOOGL":"谷歌A",".SPX":"S&P 500 Index","OEX":"标普100","QID":"纳指两倍做空ETF","BK4534":"瑞士信贷持仓","BK4139":"生物科技","BK4576":"AR","BK4007":"制药","OEF":"标普100指数ETF-iShares","BK4525":"远程办公概念","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","BK4196":"保健护理服务","SANA":"Sana Biotechnology, Inc.","BK4566":"资本集团","IVV":"标普500指数ETF","BK4082":"医疗保健设备","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4538":"云计算","BK4077":"互动媒体与服务","DJX":"1/100道琼斯","QQQ":"纳指100ETF","QLD":"纳指两倍做多ETF","BK4579":"人工智能","TQQQ":"纳指三倍做多ETF","BK4503":"景林资产持仓","BK4574":"无人驾驶","BK4561":"索罗斯持仓","BK4573":"虚拟现实","BK4581":"高盛持仓","BK4504":"桥水持仓","SDOW":"道指三倍做空ETF-ProShares"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2217746440","content_text":"Wall Street ended lower on Friday as the war in Ukraine overshadowed an acceleration in U.S. jobs growth last month that pointed to strength in the economy.Most of the 11 major S&P sector indexes declined, with financials leading the way with a 2% drop as investors worried about how the West's sanctions against Moscow may affect the international financial system.The S&P 500 banks index fell 3.35%, bringing its loss for the week to nearly 9%, its worst weekly decline since June 2020.Equities globally were weaker, with safe-haven assets in demand after Russian forces seized Europe's biggest nuclear power plant in what Washington called a reckless assault that risked catastrophe.The Labor Department's closely watched employment report showed jobs grew by a more than expected 678,000 last month and that the unemployment rate fell to 3.8%, the lowest since February 2020.\"Three or four weeks ago, we would have thought that this is an incredibly important number. But given the backdrop and the overall events that are happening in Europe, it's just not,\" said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte.\"The potential for escalation in the hot war, the potential for a growth impact in Europe and more broadly, and knock-on effects on the commodity channel and inflation are taking up all of investors' time and energy,\" Hill said.Amazon.com Inc , Apple Inc, Google owner-Alphabet Inc and Microsoft Corp all lost more than 1%.The crisis in Ukraine boosted energy stocks as crude prices and other commodities rallied on the back of sanctions against Russia, a major oil producer. The S&P 500 energy sector jumped 2.85% and gained about 9% for the week.Richly valued growth stocks have faced the brunt of the recent selloff, with the S&P 500 growth index down 1.3% on Friday. The value index declined 0.3%.The Dow Jones Industrial Average fell 0.53% to end at 33,614.8 points, while the S&P 500 lost 0.79% to 4,328.87.The Nasdaq Composite dropped 1.66% to 13,313.44.For the week, the S&P 500 and Dow both fell 1.3%, while the Nasdaq gave up 2.8%.Federal Reserve Chair Jerome Powell said this week he would support a 25-basis-point interest rate increase at the central bank's March 15-16 policy meeting and would be \"prepared to move more aggressively\" later if inflation does not abate as fast as expected.Soaring commodity prices have raised fears of even greater inflation, which could prompt the Fed to hike interest rates more aggressively.Shares of WW International, formerly Weight Watchers, dropped over 8% after the Federal Trade Commission said the company \"illegally\" collected personal information from children without parental permission.Declining issues outnumbered advancing ones on the NYSE by a 2.12-to-1 ratio; on Nasdaq, a 2.70-to-1 ratio favored decliners.The S&P 500 posted 38 new 52-week highs and 27 new lows; the Nasdaq Composite recorded 44 new highs and 406 new lows.Volume on U.S. exchanges was 13.9 billion shares, compared to a 20-day average of 12.6 billion, according to Refinitiv data.","news_type":1},"isVote":1,"tweetType":1,"viewCount":276,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3479274809858351","authorId":"3479274809858351","name":"Thatway","avatar":"https://static.laohu8.com/picture172","crmLevel":1,"crmLevelSwitch":0},"content":"War is bad for everything. I hope the disputes can be ended soon and the financial market can be gradually stabilized.","text":"War is bad for everything. I hope the disputes can be ended soon and the financial market can be gradually stabilized.","html":"War is bad for everything. I hope the disputes can be ended soon and the financial market can be gradually stabilized."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039360285,"gmtCreate":1645926176765,"gmtModify":1676534075116,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"This article is music to the ears of all Apple shareholders in Tiger Broker which is alot (:","listText":"This article is music to the ears of all Apple shareholders in Tiger Broker which is alot (:","text":"This article is music to the ears of all Apple shareholders in Tiger Broker which is alot (:","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039360285","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1645926503,"share":"https://www.laohu8.com/m/news/1125580913?lang=&edition=full","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9966308961,"gmtCreate":1669413225253,"gmtModify":1676538193515,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9966308961","repostId":"2285438248","repostType":4,"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9096497542,"gmtCreate":1644447719737,"gmtModify":1676533926233,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Huat ah","listText":"Huat ah","text":"Huat ah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096497542","repostId":"1154751327","repostType":4,"repost":{"id":"1154751327","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":1644419033,"share":"https://www.laohu8.com/m/news/1154751327?lang=&edition=full","pubTime":"2022-02-09 23:03","market":"us","language":"en","title":"Alibaba Shares Jumped over 3% in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1154751327","media":"Tiger Newspress","summary":"Alibaba Shares Jumped over 3% in Morning Trading. Softbank Said Additional Alibaba ADS Not Tied to A","content":"<html><head></head><body><p>Alibaba Shares Jumped over 3% in Morning Trading. Softbank Said Additional Alibaba ADS Not Tied to Any Specific Future Softbank Transaction.<img src=\"https://static.tigerbbs.com/ded43a9d79c85fd086b9d3d2dbcd926d\" tg-width=\"872\" tg-height=\"639\" referrerpolicy=\"no-referrer\"/>Alibaba's recent registration of additional American Depository Shares is not tied to any specific future transaction by SoftBank Group Corp, a spokesperson for the Japanese conglomerate said on Wednesday.</p><p>"The registration of the ADR conversion facility (F6 filing, which was filed by Alibaba), including its size, is not tied to any specific future transaction by SBG," SoftBank said in a statement to Reuters.</p><p>E-commerce giant Alibaba last week filed to register an additional one billion American Depository Shares. The move, Citigroup analysts said this week, "might also suggest potential selling intention by SoftBank."</p><p>"Since Softbank has been a pre-IPO investor, we believe a large proportion of those shares have not been previously registered as ADS," Citi analysts including Alicia Yap wrote.</p><p>SoftBank's stake of around 25% in Alibaba is worth around $82 billion and has its origins in a $20 million investment in 2000. Alibaba's shares have fallen by 60% since highs in October 2020.</p><p></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>Alibaba Shares Jumped over 3% in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba Shares Jumped over 3% in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-09 23:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Alibaba Shares Jumped over 3% in Morning Trading. Softbank Said Additional Alibaba ADS Not Tied to Any Specific Future Softbank Transaction.<img src=\"https://static.tigerbbs.com/ded43a9d79c85fd086b9d3d2dbcd926d\" tg-width=\"872\" tg-height=\"639\" referrerpolicy=\"no-referrer\"/>Alibaba's recent registration of additional American Depository Shares is not tied to any specific future transaction by SoftBank Group Corp, a spokesperson for the Japanese conglomerate said on Wednesday.</p><p>"The registration of the ADR conversion facility (F6 filing, which was filed by Alibaba), including its size, is not tied to any specific future transaction by SBG," SoftBank said in a statement to Reuters.</p><p>E-commerce giant Alibaba last week filed to register an additional one billion American Depository Shares. The move, Citigroup analysts said this week, "might also suggest potential selling intention by SoftBank."</p><p>"Since Softbank has been a pre-IPO investor, we believe a large proportion of those shares have not been previously registered as ADS," Citi analysts including Alicia Yap wrote.</p><p>SoftBank's stake of around 25% in Alibaba is worth around $82 billion and has its origins in a $20 million investment in 2000. Alibaba's shares have fallen by 60% since highs in October 2020.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154751327","content_text":"Alibaba Shares Jumped over 3% in Morning Trading. Softbank Said Additional Alibaba ADS Not Tied to Any Specific Future Softbank Transaction.Alibaba's recent registration of additional American Depository Shares is not tied to any specific future transaction by SoftBank Group Corp, a spokesperson for the Japanese conglomerate said on Wednesday.\"The registration of the ADR conversion facility (F6 filing, which was filed by Alibaba), including its size, is not tied to any specific future transaction by SBG,\" SoftBank said in a statement to Reuters.E-commerce giant Alibaba last week filed to register an additional one billion American Depository Shares. The move, Citigroup analysts said this week, \"might also suggest potential selling intention by SoftBank.\"\"Since Softbank has been a pre-IPO investor, we believe a large proportion of those shares have not been previously registered as ADS,\" Citi analysts including Alicia Yap wrote.SoftBank's stake of around 25% in Alibaba is worth around $82 billion and has its origins in a $20 million investment in 2000. Alibaba's shares have fallen by 60% since highs in October 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":237,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9038822460,"gmtCreate":1646793222967,"gmtModify":1676534163252,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"US response is kind of expected, but how russia will retaliate is a concern (very unpredictable Putin)","listText":"US response is kind of expected, but how russia will retaliate is a concern (very unpredictable Putin)","text":"US response is kind of expected, but how russia will retaliate is a concern (very unpredictable Putin)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9038822460","repostId":"2218403389","repostType":4,"repost":{"id":"2218403389","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1646780725,"share":"https://www.laohu8.com/m/news/2218403389?lang=&edition=full","pubTime":"2022-03-09 07:05","market":"us","language":"en","title":"US STOCKS-Wall St Ends down in Rocky Session as U.S. Bans Russian Oil Imports","url":"https://stock-news.laohu8.com/highlight/detail?id=2218403389","media":"Reuters","summary":"Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imp","content":"<html><head></head><body><p>Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion.</p><p>Losses accelerated into the end of Tuesday's up-and-down session, a day after steep declines that saw the tech-heavy Nasdaq confirm it was in a bear market. The benchmark S&P 500 fell for a fourth straight session.</p><p>U.S. President Joe Biden announced the ban on Russian oil and other energy imports, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices, while Britain said it would phase out imports of Russian oil and oil products by the end of 2022.</p><p>"I think it is just investors trying to probe whether it is worth buying the dips and we had a real big <a href=\"https://laohu8.com/S/AONE.U\">one</a> yesterday," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Anytime that the buying seems to get a little out of hand on the upside there seems to be willing sellers coming in."</p><p>“To me, it’s a trader’s market and people looking for very short-term momentum shifts to trade,” Carlson said.</p><p>The Dow Jones Industrial Average fell 184.74 points, or 0.56%, to 32,632.64, the S&P 500 lost 30.39 points, or 0.72%, to 4,170.7 and the Nasdaq Composite dropped 35.41 points, or 0.28%, to 12,795.55.</p><p>Defensive sectors were the biggest decliners, with consumer staples falling 2.6%, healthcare dropping 2.1% and utilities down 1.6%.</p><p>Gains in megacap growth stocks, such as Tesla, <a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> and Alphabet, helped mitigate losses for the S&P 500.</p><p>The energy sector, a standout performer this year, continued its charge higher, rising 1.4%.</p><p>Brent crude topped $130 per barrel along with other commodities, triggering alarm over surging inflation and the impact on global economic growth. U.S. gasoline prices hit a record on Tuesday.</p><p>"There is just a lot of uncertainty right now of what the impact is going to be on the U.S. economy," said James Ragan, director of wealth management research at D.A. Davidson. "I think we will see a little pullback in the U.S. consumer. Obviously, the gasoline prices are going to cause people to pause a little bit."</p><p>Ukraine's government accused Russian forces of shelling a humanitarian corridor that Moscow, which describes its actions as a "special operation", had promised to open to let residents flee the besieged port of Mariupol.</p><p>Stocks have struggled as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Federal Reserve is expected to tighten monetary policy this year to fight inflation.</p><p>On Monday, the Nasdaq confirmed it was in a bear market, falling over 20% from its record high, while the Dow Jones Industrial Average confirmed it was in a correction as it closed more than 10% lower from its record peak.</p><p>In company news, shares of Caterpillar Inc jumped 6.8% after Jefferies upgraded the construction equipment maker's stock to "buy" from "hold" as a hedge against inflation and prospects of more investments.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.</p><p>The S&P 500 posted 18 new 52-week highs and 78 new lows; the Nasdaq Composite recorded 34 new highs and 525 new lows.</p><p>About 19 billion shares changed hands in U.S. exchanges, the most in over a year, compared with the 13.4 billion daily average over the last 20 sessions.</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>US STOCKS-Wall St Ends down in Rocky Session as U.S. Bans Russian Oil Imports</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall St Ends down in Rocky Session as U.S. Bans Russian Oil Imports\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-09 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion.</p><p>Losses accelerated into the end of Tuesday's up-and-down session, a day after steep declines that saw the tech-heavy Nasdaq confirm it was in a bear market. The benchmark S&P 500 fell for a fourth straight session.</p><p>U.S. President Joe Biden announced the ban on Russian oil and other energy imports, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices, while Britain said it would phase out imports of Russian oil and oil products by the end of 2022.</p><p>"I think it is just investors trying to probe whether it is worth buying the dips and we had a real big <a href=\"https://laohu8.com/S/AONE.U\">one</a> yesterday," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Anytime that the buying seems to get a little out of hand on the upside there seems to be willing sellers coming in."</p><p>“To me, it’s a trader’s market and people looking for very short-term momentum shifts to trade,” Carlson said.</p><p>The Dow Jones Industrial Average fell 184.74 points, or 0.56%, to 32,632.64, the S&P 500 lost 30.39 points, or 0.72%, to 4,170.7 and the Nasdaq Composite dropped 35.41 points, or 0.28%, to 12,795.55.</p><p>Defensive sectors were the biggest decliners, with consumer staples falling 2.6%, healthcare dropping 2.1% and utilities down 1.6%.</p><p>Gains in megacap growth stocks, such as Tesla, <a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> and Alphabet, helped mitigate losses for the S&P 500.</p><p>The energy sector, a standout performer this year, continued its charge higher, rising 1.4%.</p><p>Brent crude topped $130 per barrel along with other commodities, triggering alarm over surging inflation and the impact on global economic growth. U.S. gasoline prices hit a record on Tuesday.</p><p>"There is just a lot of uncertainty right now of what the impact is going to be on the U.S. economy," said James Ragan, director of wealth management research at D.A. Davidson. "I think we will see a little pullback in the U.S. consumer. Obviously, the gasoline prices are going to cause people to pause a little bit."</p><p>Ukraine's government accused Russian forces of shelling a humanitarian corridor that Moscow, which describes its actions as a "special operation", had promised to open to let residents flee the besieged port of Mariupol.</p><p>Stocks have struggled as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Federal Reserve is expected to tighten monetary policy this year to fight inflation.</p><p>On Monday, the Nasdaq confirmed it was in a bear market, falling over 20% from its record high, while the Dow Jones Industrial Average confirmed it was in a correction as it closed more than 10% lower from its record peak.</p><p>In company news, shares of Caterpillar Inc jumped 6.8% after Jefferies upgraded the construction equipment maker's stock to "buy" from "hold" as a hedge against inflation and prospects of more investments.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.</p><p>The S&P 500 posted 18 new 52-week highs and 78 new lows; the Nasdaq Composite recorded 34 new highs and 525 new lows.</p><p>About 19 billion shares changed hands in U.S. exchanges, the most in over a year, compared with the 13.4 billion daily average over the last 20 sessions.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4548":"巴美列捷福持仓","BK4553":"喜马拉雅资本持仓","BK4514":"搜索引擎","BK4527":"明星科技股","BK4507":"流媒体概念","BK4077":"互动媒体与服务","BK4579":"人工智能","GOOG":"谷歌","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4554":"元宇宙及AR概念","BK4566":"资本集团","BK4525":"远程办公概念"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2218403389","content_text":"Major U.S. stock indexes ended lower in rocky trading on Tuesday, as investors weighed fast-paced developments around the crisis in Ukraine as the United States banned Russian oil and other energy imports over the invasion.Losses accelerated into the end of Tuesday's up-and-down session, a day after steep declines that saw the tech-heavy Nasdaq confirm it was in a bear market. The benchmark S&P 500 fell for a fourth straight session.U.S. President Joe Biden announced the ban on Russian oil and other energy imports, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices, while Britain said it would phase out imports of Russian oil and oil products by the end of 2022.\"I think it is just investors trying to probe whether it is worth buying the dips and we had a real big one yesterday,\" said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. \"Anytime that the buying seems to get a little out of hand on the upside there seems to be willing sellers coming in.\"“To me, it’s a trader’s market and people looking for very short-term momentum shifts to trade,” Carlson said.The Dow Jones Industrial Average fell 184.74 points, or 0.56%, to 32,632.64, the S&P 500 lost 30.39 points, or 0.72%, to 4,170.7 and the Nasdaq Composite dropped 35.41 points, or 0.28%, to 12,795.55.Defensive sectors were the biggest decliners, with consumer staples falling 2.6%, healthcare dropping 2.1% and utilities down 1.6%.Gains in megacap growth stocks, such as Tesla, Meta Platforms and Alphabet, helped mitigate losses for the S&P 500.The energy sector, a standout performer this year, continued its charge higher, rising 1.4%.Brent crude topped $130 per barrel along with other commodities, triggering alarm over surging inflation and the impact on global economic growth. U.S. gasoline prices hit a record on Tuesday.\"There is just a lot of uncertainty right now of what the impact is going to be on the U.S. economy,\" said James Ragan, director of wealth management research at D.A. Davidson. \"I think we will see a little pullback in the U.S. consumer. Obviously, the gasoline prices are going to cause people to pause a little bit.\"Ukraine's government accused Russian forces of shelling a humanitarian corridor that Moscow, which describes its actions as a \"special operation\", had promised to open to let residents flee the besieged port of Mariupol.Stocks have struggled as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Federal Reserve is expected to tighten monetary policy this year to fight inflation.On Monday, the Nasdaq confirmed it was in a bear market, falling over 20% from its record high, while the Dow Jones Industrial Average confirmed it was in a correction as it closed more than 10% lower from its record peak.In company news, shares of Caterpillar Inc jumped 6.8% after Jefferies upgraded the construction equipment maker's stock to \"buy\" from \"hold\" as a hedge against inflation and prospects of more investments.Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.The S&P 500 posted 18 new 52-week highs and 78 new lows; the Nasdaq Composite recorded 34 new highs and 525 new lows.About 19 billion shares changed hands in U.S. exchanges, the most in over a year, compared with the 13.4 billion daily average over the last 20 sessions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916842874,"gmtCreate":1664579994398,"gmtModify":1676537478544,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9916842874","repostId":"2271971706","repostType":4,"repost":{"id":"2271971706","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1664551545,"share":"https://www.laohu8.com/m/news/2271971706?lang=&edition=full","pubTime":"2022-09-30 23:25","market":"us","language":"en","title":"U.S. Investors Brace for More Wild Market Gyrations After Dizzying Q3","url":"https://stock-news.laohu8.com/highlight/detail?id=2271971706","media":"Reuters","summary":"(Reuters) - In a year of wild market swings, the third quarter of 2022 was a time when events took a","content":"<html><head></head><body><p>(Reuters) - In a year of wild market swings, the third quarter of 2022 was a time when events took a truly extraordinary turn.</p><p>As the Federal Reserve ratcheted up its monetary policy tightening to tame the worst inflation in decades, U.S. Treasury yields shot to their highest levels in more than a decade and stocks reversed a summer rally to plumb fresh depths.</p><p>The S&P 500 is down nearly 24% year-to-date, while yields on the benchmark 10 year Treasury note, which move inversely to bond prices, recently hit their highest level since 2008.</p><p>Outside the United States, the soaring dollar spurred big declines in global currencies, pushing Japan to support the yen for the first time in years. A slump in British government bond prices, meanwhile, forced the Bank of England to carry out temporary purchases of long-dated gilts. Many investors are looking to the next three months with trepidation, betting the selloff in U.S. stocks will continue until there are signs the Fed is winning its battle against inflation. Yet the last quarter of the year has often been a beneficial time for U.S. equities, spurring hopes that markets may have already seen the worst of the selloff.</p><h3>PASS THE DIP</h3><p>The strategy of buying stock market dips yielded rich rewards for investors in the past but failed badly in 2022: the S&P 500 has rallied by 6% or more four times this year and went on to make a fresh low in each instance.</p><p>The third quarter saw the index rise by nearly 14% before reversing to make a fresh two-year low in September after investors recalibrated their expectations for even more aggressive Fed tightening.</p><h3>LOOK OUT BELOW?</h3><p>With several big Wall Street banks expecting the benchmark index to end the year below current levels - Bank of America and Goldman Sachs both recently published year-end targets of 3,600 - the outlook for dip-buying remains murky.</p><p>In addition, the current bear market, which has so far lasted 268 days and notched a peak-to-trough decline of about 24%, is still relatively short and shallow compared with past drops. Since 1950, the average bear market has lasted 391 days with an average peak-to-trough drop of 35.6%, according to Yardeni Research.</p><h3>LOOK TO BONDS</h3><p>Though equities have been volatile, the gyrations in bond markets have been comparatively worse.</p><p>The ICE BofAML U.S. Bond Market Option Volatility Estimate Index shot to its highest level since March 2020 as the ICE BofA US Treasury index is on track for its biggest annual drop on record.</p><p>By comparison, the Cboe Volatility Index - the so-called Wall Street "fear gauge" - has failed to scale its March peak.</p><p>Some investors believe stock turbulence will continue until bond markets calm down.</p><p>"I think there is a good scenario where once we get through the bond market violence, we get to a more tradable bottom (for stocks)," said Michael Purves, chief executive at Tallbacken Capital Advisors in New York.</p><h3>…AND THE DOLLAR</h3><p>Soaring U.S. interest rates, a relatively robust American economy and investors' reach for safe haven amidst a rise in financial market volatility has boosted the U.S. dollar – to the detriment of other global currencies.</p><p>The greenback is up about 7% for the quarter against a basket of currencies and stands near its highest level since May 2002. The dollar’s strength has the Bank of Japan to shore up the yen through interventions while also presenting an earnings headwind for U.S. corporates.</p><p>"Market risk-takers are grappling with the double-barreled threat of persistent dollar strength and dramatically higher interest rates," Jack Ablin, chief investment officer at Cresset Capital, said in a note.</p><h3>EARNINGS TEST</h3><p>Third quarter earnings may present another obstacle to markets, as companies factor in everything from dollar-fueled currency headwinds to supply chain issues.</p><p>Analysts have become more downbeat on third quarter profit growth, with consensus estimates falling to 4.6% from 7.2% in early August, according to Refinitiv IBES. So far, that is only slightly worse than the median 2.2 percentage point decline ahead of reporting periods historically, yet warnings from companies such as FedEX and Ford have hinted at the possibility of more pain to come.</p><h3>'TIS THE SEASON</h3><p>The calendar may offer weary stock investors some hope.</p><p>The fourth quarter is historically the best period for returns for major U.S. stock indexes, with the S&P 500 averaging a 4.2% gain since 1949, according to the Stock Trader's Almanac.</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>U.S. Investors Brace for More Wild Market Gyrations After Dizzying Q3</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\">\nU.S. Investors Brace for More Wild Market Gyrations After Dizzying Q3\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-09-30 23:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - In a year of wild market swings, the third quarter of 2022 was a time when events took a truly extraordinary turn.</p><p>As the Federal Reserve ratcheted up its monetary policy tightening to tame the worst inflation in decades, U.S. Treasury yields shot to their highest levels in more than a decade and stocks reversed a summer rally to plumb fresh depths.</p><p>The S&P 500 is down nearly 24% year-to-date, while yields on the benchmark 10 year Treasury note, which move inversely to bond prices, recently hit their highest level since 2008.</p><p>Outside the United States, the soaring dollar spurred big declines in global currencies, pushing Japan to support the yen for the first time in years. A slump in British government bond prices, meanwhile, forced the Bank of England to carry out temporary purchases of long-dated gilts. Many investors are looking to the next three months with trepidation, betting the selloff in U.S. stocks will continue until there are signs the Fed is winning its battle against inflation. Yet the last quarter of the year has often been a beneficial time for U.S. equities, spurring hopes that markets may have already seen the worst of the selloff.</p><h3>PASS THE DIP</h3><p>The strategy of buying stock market dips yielded rich rewards for investors in the past but failed badly in 2022: the S&P 500 has rallied by 6% or more four times this year and went on to make a fresh low in each instance.</p><p>The third quarter saw the index rise by nearly 14% before reversing to make a fresh two-year low in September after investors recalibrated their expectations for even more aggressive Fed tightening.</p><h3>LOOK OUT BELOW?</h3><p>With several big Wall Street banks expecting the benchmark index to end the year below current levels - Bank of America and Goldman Sachs both recently published year-end targets of 3,600 - the outlook for dip-buying remains murky.</p><p>In addition, the current bear market, which has so far lasted 268 days and notched a peak-to-trough decline of about 24%, is still relatively short and shallow compared with past drops. Since 1950, the average bear market has lasted 391 days with an average peak-to-trough drop of 35.6%, according to Yardeni Research.</p><h3>LOOK TO BONDS</h3><p>Though equities have been volatile, the gyrations in bond markets have been comparatively worse.</p><p>The ICE BofAML U.S. Bond Market Option Volatility Estimate Index shot to its highest level since March 2020 as the ICE BofA US Treasury index is on track for its biggest annual drop on record.</p><p>By comparison, the Cboe Volatility Index - the so-called Wall Street "fear gauge" - has failed to scale its March peak.</p><p>Some investors believe stock turbulence will continue until bond markets calm down.</p><p>"I think there is a good scenario where once we get through the bond market violence, we get to a more tradable bottom (for stocks)," said Michael Purves, chief executive at Tallbacken Capital Advisors in New York.</p><h3>…AND THE DOLLAR</h3><p>Soaring U.S. interest rates, a relatively robust American economy and investors' reach for safe haven amidst a rise in financial market volatility has boosted the U.S. dollar – to the detriment of other global currencies.</p><p>The greenback is up about 7% for the quarter against a basket of currencies and stands near its highest level since May 2002. The dollar’s strength has the Bank of Japan to shore up the yen through interventions while also presenting an earnings headwind for U.S. corporates.</p><p>"Market risk-takers are grappling with the double-barreled threat of persistent dollar strength and dramatically higher interest rates," Jack Ablin, chief investment officer at Cresset Capital, said in a note.</p><h3>EARNINGS TEST</h3><p>Third quarter earnings may present another obstacle to markets, as companies factor in everything from dollar-fueled currency headwinds to supply chain issues.</p><p>Analysts have become more downbeat on third quarter profit growth, with consensus estimates falling to 4.6% from 7.2% in early August, according to Refinitiv IBES. So far, that is only slightly worse than the median 2.2 percentage point decline ahead of reporting periods historically, yet warnings from companies such as FedEX and Ford have hinted at the possibility of more pain to come.</p><h3>'TIS THE SEASON</h3><p>The calendar may offer weary stock investors some hope.</p><p>The fourth quarter is historically the best period for returns for major U.S. stock indexes, with the S&P 500 averaging a 4.2% gain since 1949, according to the Stock Trader's Almanac.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2271971706","content_text":"(Reuters) - In a year of wild market swings, the third quarter of 2022 was a time when events took a truly extraordinary turn.As the Federal Reserve ratcheted up its monetary policy tightening to tame the worst inflation in decades, U.S. Treasury yields shot to their highest levels in more than a decade and stocks reversed a summer rally to plumb fresh depths.The S&P 500 is down nearly 24% year-to-date, while yields on the benchmark 10 year Treasury note, which move inversely to bond prices, recently hit their highest level since 2008.Outside the United States, the soaring dollar spurred big declines in global currencies, pushing Japan to support the yen for the first time in years. A slump in British government bond prices, meanwhile, forced the Bank of England to carry out temporary purchases of long-dated gilts. Many investors are looking to the next three months with trepidation, betting the selloff in U.S. stocks will continue until there are signs the Fed is winning its battle against inflation. Yet the last quarter of the year has often been a beneficial time for U.S. equities, spurring hopes that markets may have already seen the worst of the selloff.PASS THE DIPThe strategy of buying stock market dips yielded rich rewards for investors in the past but failed badly in 2022: the S&P 500 has rallied by 6% or more four times this year and went on to make a fresh low in each instance.The third quarter saw the index rise by nearly 14% before reversing to make a fresh two-year low in September after investors recalibrated their expectations for even more aggressive Fed tightening.LOOK OUT BELOW?With several big Wall Street banks expecting the benchmark index to end the year below current levels - Bank of America and Goldman Sachs both recently published year-end targets of 3,600 - the outlook for dip-buying remains murky.In addition, the current bear market, which has so far lasted 268 days and notched a peak-to-trough decline of about 24%, is still relatively short and shallow compared with past drops. Since 1950, the average bear market has lasted 391 days with an average peak-to-trough drop of 35.6%, according to Yardeni Research.LOOK TO BONDSThough equities have been volatile, the gyrations in bond markets have been comparatively worse.The ICE BofAML U.S. Bond Market Option Volatility Estimate Index shot to its highest level since March 2020 as the ICE BofA US Treasury index is on track for its biggest annual drop on record.By comparison, the Cboe Volatility Index - the so-called Wall Street \"fear gauge\" - has failed to scale its March peak.Some investors believe stock turbulence will continue until bond markets calm down.\"I think there is a good scenario where once we get through the bond market violence, we get to a more tradable bottom (for stocks),\" said Michael Purves, chief executive at Tallbacken Capital Advisors in New York.…AND THE DOLLARSoaring U.S. interest rates, a relatively robust American economy and investors' reach for safe haven amidst a rise in financial market volatility has boosted the U.S. dollar – to the detriment of other global currencies.The greenback is up about 7% for the quarter against a basket of currencies and stands near its highest level since May 2002. The dollar’s strength has the Bank of Japan to shore up the yen through interventions while also presenting an earnings headwind for U.S. corporates.\"Market risk-takers are grappling with the double-barreled threat of persistent dollar strength and dramatically higher interest rates,\" Jack Ablin, chief investment officer at Cresset Capital, said in a note.EARNINGS TESTThird quarter earnings may present another obstacle to markets, as companies factor in everything from dollar-fueled currency headwinds to supply chain issues.Analysts have become more downbeat on third quarter profit growth, with consensus estimates falling to 4.6% from 7.2% in early August, according to Refinitiv IBES. So far, that is only slightly worse than the median 2.2 percentage point decline ahead of reporting periods historically, yet warnings from companies such as FedEX and Ford have hinted at the possibility of more pain to come.'TIS THE SEASONThe calendar may offer weary stock investors some hope.The fourth quarter is historically the best period for returns for major U.S. stock indexes, with the S&P 500 averaging a 4.2% gain since 1949, according to the Stock Trader's Almanac.","news_type":1},"isVote":1,"tweetType":1,"viewCount":14,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097932334,"gmtCreate":1645313043052,"gmtModify":1676534016819,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"I honestly think that if she doesnt switch out her portfolio often, she will earn more money down the line. Her growth companies takes time to mature.","listText":"I honestly think that if she doesnt switch out her portfolio often, she will earn more money down the line. Her growth companies takes time to mature.","text":"I honestly think that if she doesnt switch out her portfolio often, she will earn more money down the line. Her growth companies takes time to mature.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097932334","repostId":"1129820775","repostType":4,"repost":{"id":"1129820775","pubTimestamp":1645235242,"share":"https://www.laohu8.com/m/news/1129820775?lang=&edition=full","pubTime":"2022-02-19 09:47","market":"us","language":"en","title":"Cathie Wood's Flagship Ark Fund Hits 20-Month Low","url":"https://stock-news.laohu8.com/highlight/detail?id=1129820775","media":"TheStreet","summary":"Anticipation of interest rate hikes by the Federal Reserve is putting the kibosh on the stocks of yo","content":"<html><head></head><body><p>Anticipation of interest rate hikes by the Federal Reserve is putting the kibosh on the stocks of young technology companies.</p><p>Chicago Cubs fans used to say that any team can have a bad century.</p><p>And now investment star Cathie Wood, chief executive of Ark Investment Management, may be saying that any fund can have a bad 20 months.</p><p>Her flagship fund Ark Innovation ETF(<b>ARKK</b>) slid 5% Friday to $64.80, its lowest level since June 2020. The fund and Wood’s reputation took off when it soared 157% in 2020. But it slid 23% last year, and has dropped another 31% so far this year.</p><p>The fund’s young technology stocks have suffered from rising bond yields overall and anticipation of Federal Reserve interest-rate increases.</p><p>Rising rates hurt the stocks by making the potential earnings streams of young tech companies less valuable compared to safer investments, such as Treasury bonds. In addition, many young tech companies borrow money, so higher rates increase their debt costs.</p><p>Ark Innovation’s biggest stock holdings, starting with the largest, are electric-car titan Tesla, which has slid 21% in the last three months; online healthcare system Teladoc Health, which has dropped 51% during that period; streaming platform Roku, which has lost 55%; and video meeting platform Zoom Video Communications, which has shed 52%.</p><p>Wood is unbowed by her stocks’ descent. “The important thing to keep in mind is the long-term horizon that we invest in,”she told investors last month. “We have a five-year horizon. I’ve never seen innovation on sale like it is today.”</p><p>So Wood has been snapping up shares, including Tesla,Roku and Zoom on Thursday.</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>Cathie Wood's Flagship Ark Fund Hits 20-Month Low</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\">\nCathie Wood's Flagship Ark Fund Hits 20-Month Low\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-19 09:47 GMT+8 <a href=https://www.thestreet.com/investing/cathie-wood-ark-fund-20-month-low><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Anticipation of interest rate hikes by the Federal Reserve is putting the kibosh on the stocks of young technology companies.Chicago Cubs fans used to say that any team can have a bad century.And now ...</p>\n\n<a href=\"https://www.thestreet.com/investing/cathie-wood-ark-fund-20-month-low\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc","TSLA":"特斯拉","TDOC":"Teladoc Health Inc.","ZM":"Zoom","ARKK":"ARK Innovation ETF"},"source_url":"https://www.thestreet.com/investing/cathie-wood-ark-fund-20-month-low","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129820775","content_text":"Anticipation of interest rate hikes by the Federal Reserve is putting the kibosh on the stocks of young technology companies.Chicago Cubs fans used to say that any team can have a bad century.And now investment star Cathie Wood, chief executive of Ark Investment Management, may be saying that any fund can have a bad 20 months.Her flagship fund Ark Innovation ETF(ARKK) slid 5% Friday to $64.80, its lowest level since June 2020. The fund and Wood’s reputation took off when it soared 157% in 2020. But it slid 23% last year, and has dropped another 31% so far this year.The fund’s young technology stocks have suffered from rising bond yields overall and anticipation of Federal Reserve interest-rate increases.Rising rates hurt the stocks by making the potential earnings streams of young tech companies less valuable compared to safer investments, such as Treasury bonds. In addition, many young tech companies borrow money, so higher rates increase their debt costs.Ark Innovation’s biggest stock holdings, starting with the largest, are electric-car titan Tesla, which has slid 21% in the last three months; online healthcare system Teladoc Health, which has dropped 51% during that period; streaming platform Roku, which has lost 55%; and video meeting platform Zoom Video Communications, which has shed 52%.Wood is unbowed by her stocks’ descent. “The important thing to keep in mind is the long-term horizon that we invest in,”she told investors last month. “We have a five-year horizon. I’ve never seen innovation on sale like it is today.”So Wood has been snapping up shares, including Tesla,Roku and Zoom on Thursday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099603109,"gmtCreate":1643337064648,"gmtModify":1676533807440,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Good news for like all of tiger brokerage customers since all apple holders, lol","listText":"Good news for like all of tiger brokerage customers since all apple holders, lol","text":"Good news for like all of tiger brokerage customers since all apple holders, lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099603109","repostId":"1122320524","repostType":4,"repost":{"id":"1122320524","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1643321766,"share":"https://www.laohu8.com/m/news/1122320524?lang=&edition=full","pubTime":"2022-01-28 06:16","market":"us","language":"en","title":"Apple Sales and Profit Top Estimates as Hit from Chip Shortages Eases","url":"https://stock-news.laohu8.com/highlight/detail?id=1122320524","media":"Reuters","summary":"Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iP","content":"<html><head></head><body><p>Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iPhone demand and growing subscribers, even as a chips shortage that it said has begun easing cost it over $6 billion in revenue.</p><p>Apple shares rose over 4% to $165.80 in after-hours trading. But they have been down 10% this year, in line with the broader market, as investors reconsider stocks that have soared during the pandemic and shift funds toward safer assets.</p><p><img src=\"https://static.tigerbbs.com/b9aae61d17bfaf1ba4c776a3135dc67c\" tg-width=\"842\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>The record results for the quarter ended Dec. 25 reflected what analysts have described as Apple taking advantage of its incredible size. The company, which has more than 1.8 billion active devices in the market, has been able to squeeze suppliers and manufacturers to produce big quantities of iPhones and other devices despite shortages brought on by the pandemic and most recently the Omicron variant.</p><p>"They've navigated the supply chain better than everybody, and it's showing in the results," said Ryan Reith, who studies the smartphone market for industry tracker IDC.</p><p>Demand during the holiday quarter outstripped supply in line with Apple's expectations, Chief Financial Officer Luca Maestri told Reuters in an interview, noting that the effect was more than $6 billion in lost sales. But he said constraints would decrease in the current quarter, ending in March.</p><p>"The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It's difficult for us to predict, so we try to focus on the short term," he said.</p><p>With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6 billion, a 9% increase from the 2020 holiday season that handily beat Wall Street targets, according to Refinitiv data.</p><p>Apple's smartphone market share in China reached a record 23% in the holiday quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday.</p><p>The company's overall fiscal first-quarter revenue was $123.9 billion, 11% up from last year and higher than analysts' average estimate of $118.7 billion. Profit was $34.6 billion, or $2.10 per share, compared with analysts' expectations of $31 billion and $1.89 per share.</p><p>The pandemic has accelerated adoption of digital tools for communication, learning and entertainment, powering Apple to blowout sales across each of the company's segments, including computers, accessories and tablets.</p><p>Apple's services business, which covers paid apps such as Apple TV+, Apple Music and Apple Fitness, also has seen a big bump. Services revenue rose 24% to $19.5 billion, topping analysts' estimates of $18.6 billion. The company has 785 million paying subscribers across its offerings, an increase from 620 million a year ago and 745 million last quarter.</p><p>Sales for iPads fell 14% to $7.25 billion compared with analyst estimates of $8.2 billion, seeming to confirm industry predictions that iPads would have low priority for any scarce parts.</p><p>Sales for Macs rose 25% to $10.9 billion compared with estimates of $9.5 billion, and sales for accessories rose 13% to $14.7 billion compared with estimates of $14.6 billion.</p><p>For investors, the growing services business is helping mitigate production challenges. Apple is trading at 27 times expected earnings over the next 12 months. While down from as much as 35 a year ago, it remains above the company's five-year average of 20 times expected earnings, according to Refinitiv.</p><p>Apple is facing antitrust pressure in the United States and Europe that could lead to new regulations that cut into its services revenue.</p><p>Late last month, the Dutch Authority for Consumers and Markets (ACM) ordered Apple to make changes for apps on offer in the Apple App Store in the Netherlands by Jan. 15 or face fines, after it found that the U.S. company had abused its market dominance by requiring dating app developers to exclusively use Apple's in-app payment system.</p><p>Supply chain issues are dragging on and concern remains about how long it will take Apple to deliver its next big product, such as an augmented reality headset or an electric vehicle.</p><p>Apple had reported strong customer response to its latest release, the AirTag, when the accessory began shipping in the fiscal third quarter of 2021.</p><p>Apple posted a rare revenue miss in the fiscal quarter ended Sept. 25, which CEO Tim Cook attributed to pandemic-related supply constraints and manufacturing disruptions that together cost the company an estimated $6 billion in sales.</p><p>But smaller rivals are struggling to keep up with production, leading to Apple market share gains in regions such as China, said Angelo Zino of CFRA Research in a research note.</p><p>"Since Apple has many customized components going into the iPhones, Macs, Apple Watch and others and the scale (volume and price) at which it procures, Apple has been able to lock-in suppliers’ capacities to timely produce those parts with lesser delays," said Neil Shah of Counterpoint Research.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Sales and Profit Top Estimates as Hit from Chip Shortages Eases</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Sales and Profit Top Estimates as Hit from Chip Shortages Eases\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-28 06:16</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iPhone demand and growing subscribers, even as a chips shortage that it said has begun easing cost it over $6 billion in revenue.</p><p>Apple shares rose over 4% to $165.80 in after-hours trading. But they have been down 10% this year, in line with the broader market, as investors reconsider stocks that have soared during the pandemic and shift funds toward safer assets.</p><p><img src=\"https://static.tigerbbs.com/b9aae61d17bfaf1ba4c776a3135dc67c\" tg-width=\"842\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>The record results for the quarter ended Dec. 25 reflected what analysts have described as Apple taking advantage of its incredible size. The company, which has more than 1.8 billion active devices in the market, has been able to squeeze suppliers and manufacturers to produce big quantities of iPhones and other devices despite shortages brought on by the pandemic and most recently the Omicron variant.</p><p>"They've navigated the supply chain better than everybody, and it's showing in the results," said Ryan Reith, who studies the smartphone market for industry tracker IDC.</p><p>Demand during the holiday quarter outstripped supply in line with Apple's expectations, Chief Financial Officer Luca Maestri told Reuters in an interview, noting that the effect was more than $6 billion in lost sales. But he said constraints would decrease in the current quarter, ending in March.</p><p>"The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It's difficult for us to predict, so we try to focus on the short term," he said.</p><p>With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6 billion, a 9% increase from the 2020 holiday season that handily beat Wall Street targets, according to Refinitiv data.</p><p>Apple's smartphone market share in China reached a record 23% in the holiday quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday.</p><p>The company's overall fiscal first-quarter revenue was $123.9 billion, 11% up from last year and higher than analysts' average estimate of $118.7 billion. Profit was $34.6 billion, or $2.10 per share, compared with analysts' expectations of $31 billion and $1.89 per share.</p><p>The pandemic has accelerated adoption of digital tools for communication, learning and entertainment, powering Apple to blowout sales across each of the company's segments, including computers, accessories and tablets.</p><p>Apple's services business, which covers paid apps such as Apple TV+, Apple Music and Apple Fitness, also has seen a big bump. Services revenue rose 24% to $19.5 billion, topping analysts' estimates of $18.6 billion. The company has 785 million paying subscribers across its offerings, an increase from 620 million a year ago and 745 million last quarter.</p><p>Sales for iPads fell 14% to $7.25 billion compared with analyst estimates of $8.2 billion, seeming to confirm industry predictions that iPads would have low priority for any scarce parts.</p><p>Sales for Macs rose 25% to $10.9 billion compared with estimates of $9.5 billion, and sales for accessories rose 13% to $14.7 billion compared with estimates of $14.6 billion.</p><p>For investors, the growing services business is helping mitigate production challenges. Apple is trading at 27 times expected earnings over the next 12 months. While down from as much as 35 a year ago, it remains above the company's five-year average of 20 times expected earnings, according to Refinitiv.</p><p>Apple is facing antitrust pressure in the United States and Europe that could lead to new regulations that cut into its services revenue.</p><p>Late last month, the Dutch Authority for Consumers and Markets (ACM) ordered Apple to make changes for apps on offer in the Apple App Store in the Netherlands by Jan. 15 or face fines, after it found that the U.S. company had abused its market dominance by requiring dating app developers to exclusively use Apple's in-app payment system.</p><p>Supply chain issues are dragging on and concern remains about how long it will take Apple to deliver its next big product, such as an augmented reality headset or an electric vehicle.</p><p>Apple had reported strong customer response to its latest release, the AirTag, when the accessory began shipping in the fiscal third quarter of 2021.</p><p>Apple posted a rare revenue miss in the fiscal quarter ended Sept. 25, which CEO Tim Cook attributed to pandemic-related supply constraints and manufacturing disruptions that together cost the company an estimated $6 billion in sales.</p><p>But smaller rivals are struggling to keep up with production, leading to Apple market share gains in regions such as China, said Angelo Zino of CFRA Research in a research note.</p><p>"Since Apple has many customized components going into the iPhones, Macs, Apple Watch and others and the scale (volume and price) at which it procures, Apple has been able to lock-in suppliers’ capacities to timely produce those parts with lesser delays," said Neil Shah of Counterpoint Research.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122320524","content_text":"Apple Inc on Thursday reported record sales in the holiday quarter, beating estimates due to high iPhone demand and growing subscribers, even as a chips shortage that it said has begun easing cost it over $6 billion in revenue.Apple shares rose over 4% to $165.80 in after-hours trading. But they have been down 10% this year, in line with the broader market, as investors reconsider stocks that have soared during the pandemic and shift funds toward safer assets.The record results for the quarter ended Dec. 25 reflected what analysts have described as Apple taking advantage of its incredible size. The company, which has more than 1.8 billion active devices in the market, has been able to squeeze suppliers and manufacturers to produce big quantities of iPhones and other devices despite shortages brought on by the pandemic and most recently the Omicron variant.\"They've navigated the supply chain better than everybody, and it's showing in the results,\" said Ryan Reith, who studies the smartphone market for industry tracker IDC.Demand during the holiday quarter outstripped supply in line with Apple's expectations, Chief Financial Officer Luca Maestri told Reuters in an interview, noting that the effect was more than $6 billion in lost sales. But he said constraints would decrease in the current quarter, ending in March.\"The level of constraint will depend a lot on other companies, what will be the demand for chips from other companies and other industries. It's difficult for us to predict, so we try to focus on the short term,\" he said.With few rival phones debuting in the holiday shopping season, the iPhone 13, which started shipping days before the quarter began, led to worldwide phone sales revenue for Apple of $71.6 billion, a 9% increase from the 2020 holiday season that handily beat Wall Street targets, according to Refinitiv data.Apple's smartphone market share in China reached a record 23% in the holiday quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday.The company's overall fiscal first-quarter revenue was $123.9 billion, 11% up from last year and higher than analysts' average estimate of $118.7 billion. Profit was $34.6 billion, or $2.10 per share, compared with analysts' expectations of $31 billion and $1.89 per share.The pandemic has accelerated adoption of digital tools for communication, learning and entertainment, powering Apple to blowout sales across each of the company's segments, including computers, accessories and tablets.Apple's services business, which covers paid apps such as Apple TV+, Apple Music and Apple Fitness, also has seen a big bump. Services revenue rose 24% to $19.5 billion, topping analysts' estimates of $18.6 billion. The company has 785 million paying subscribers across its offerings, an increase from 620 million a year ago and 745 million last quarter.Sales for iPads fell 14% to $7.25 billion compared with analyst estimates of $8.2 billion, seeming to confirm industry predictions that iPads would have low priority for any scarce parts.Sales for Macs rose 25% to $10.9 billion compared with estimates of $9.5 billion, and sales for accessories rose 13% to $14.7 billion compared with estimates of $14.6 billion.For investors, the growing services business is helping mitigate production challenges. Apple is trading at 27 times expected earnings over the next 12 months. While down from as much as 35 a year ago, it remains above the company's five-year average of 20 times expected earnings, according to Refinitiv.Apple is facing antitrust pressure in the United States and Europe that could lead to new regulations that cut into its services revenue.Late last month, the Dutch Authority for Consumers and Markets (ACM) ordered Apple to make changes for apps on offer in the Apple App Store in the Netherlands by Jan. 15 or face fines, after it found that the U.S. company had abused its market dominance by requiring dating app developers to exclusively use Apple's in-app payment system.Supply chain issues are dragging on and concern remains about how long it will take Apple to deliver its next big product, such as an augmented reality headset or an electric vehicle.Apple had reported strong customer response to its latest release, the AirTag, when the accessory began shipping in the fiscal third quarter of 2021.Apple posted a rare revenue miss in the fiscal quarter ended Sept. 25, which CEO Tim Cook attributed to pandemic-related supply constraints and manufacturing disruptions that together cost the company an estimated $6 billion in sales.But smaller rivals are struggling to keep up with production, leading to Apple market share gains in regions such as China, said Angelo Zino of CFRA Research in a research note.\"Since Apple has many customized components going into the iPhones, Macs, Apple Watch and others and the scale (volume and price) at which it procures, Apple has been able to lock-in suppliers’ capacities to timely produce those parts with lesser delays,\" said Neil Shah of Counterpoint Research.","news_type":1},"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9004935800,"gmtCreate":1642469917715,"gmtModify":1676533713584,"author":{"id":"4104761886182970","authorId":"4104761886182970","name":"Anselo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Don't bet against Warren.","listText":"Don't bet against Warren.","text":"Don't bet against Warren.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004935800","repostId":"1119480541","repostType":4,"repost":{"id":"1119480541","pubTimestamp":1642463205,"share":"https://www.laohu8.com/m/news/1119480541?lang=&edition=full","pubTime":"2022-01-18 07:46","market":"us","language":"en","title":"The Old Man's Still Got It: Warren Buffett's Berkshire Hathaway Hits an All-Time High, But Is Still Vulnerable To a Fed-Induced Bear Market. How To Protect It.","url":"https://stock-news.laohu8.com/highlight/detail?id=1119480541","media":"benzinga","summary":"\"He's old, and he's washed up.\" Dave Portnoy on Warren Buffett, June 9th, 2020 (screen capture via T","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/9f21aefdc0a475c3022e906e8e7a5e83\" tg-width=\"685\" tg-height=\"375\" referrerpolicy=\"no-referrer\"/></p><p><i>"He's old, and he's washed up." Dave Portnoy on Warren Buffett, June 9th, 2020 (screen capture via Twitter).</i></p><p><b>Berkshire Hathaway Hits An All-Time High</b></p><p>Back in June of 2020, Dave Portnoy was a few months into his day trading career. Portnoy had started trading after COVID lockdowns shut down sporting events, keeping him from sports betting (his company, Barstool Sports, has a sportsbook betting app). At the time, Portnoy compared Warren Buffett's investing acumen invidiously to his own.</p><p>Since then, shares of Buffett's holding company,<b>Berkshire Hathaway, Inc.</b>(NYSE:BRK-A), (NYSE:BRK-B) have handily outpaced the<b>SPDR S&P 500 Trust</b></p><p>SPY+0.05%and Barstool's parent company<b>Penn National Gaming, Inc.</b>PENN-2.8%, on their way to a new all-time high.</p><p><img src=\"https://static.tigerbbs.com/b67e49f945eb3434945ac8d15ea72b7f\" tg-width=\"635\" tg-height=\"450\" referrerpolicy=\"no-referrer\"/></p><p><b>Berkshire Isn't Bear Market-Proof Though</b></p><p>After Lehman Brothers went bankrupt on September 9th of 2008, Berkshire Hathaway shares rallied for a couple of weeks before joining in the 2008-2009 bear market.</p><p><img src=\"https://static.tigerbbs.com/c7baefa845d8135e82adab759276beb4\" tg-width=\"635\" tg-height=\"417\" referrerpolicy=\"no-referrer\"/></p><p>Although bear market warnings have vastly outnumbered actual bear markets over the years, the current market environment of high valuations combined with high inflation and rising interest rates suggests that stock market investors ought to be concerned about downside risk now. Below are a couple of ways of staying long Berkshire while limiting your downside risk in the event we head into a bear market over the next several months.</p><p><b>Downside Protection For Berkshire Hathaway</b></p><p>Let's say you own a thousand shares of Berkshire Hathaway Class B and you can tolerate a 20% drawdown over the next several months, but not one larger than that. Here are two ways of doing that.</p><p><b><i>Uncapped Upside, Positive Cost</i></b></p><p>As of Friday's close, these were the optimal puts to hedge against a >20% drop in BRK-B by mid-June.</p><p><img src=\"https://static.tigerbbs.com/7aa1e47bee5fb89e73f6f6a5883cc4e3\" tg-width=\"340\" tg-height=\"584\" referrerpolicy=\"no-referrer\"/></p><p><i>This and the subsequent screen captures are via the Portfolio Armor iPhone app, but you can also scan for optional hedges with our website.</i></p><p>The cost here was $3,350, or 1.03% of position value (calculated conservatively, using the ask price; you can often buy and sell options at some price between the bid and ask). That cost is pretty low. By way of comparison, the cost of hedging SPY against the same decline threshold over the same time frame was 1.25% of position value.</p><p><b><i>Capped Upside, Negative Cost</i></b></p><p>If you were willing to cap your possible upside at 11%, this was the optimal collar to protect against a >20% drop over the same time frame.</p><p><img src=\"https://static.tigerbbs.com/0e3898e03ede4c5e54abd239139d83c3\" tg-width=\"340\" tg-height=\"459\" referrerpolicy=\"no-referrer\"/></p><p><img src=\"https://static.tigerbbs.com/b8f1533be93ab82b17eaf744f6a26d0e\" tg-width=\"340\" tg-height=\"370\" referrerpolicy=\"no-referrer\"/></p><p>Here, the cost was negative, meaning you would have collected a net credit of $880 when opening this collar, assuming you placed both trades at the worst ends of their respective spreads (buying the puts at the ask and selling the calls at the bid).</p><p>Something to consider if you're long Berkshire shares and want to limit your downside risk.</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>The Old Man's Still Got It: Warren Buffett's Berkshire Hathaway Hits an All-Time High, But Is Still Vulnerable To a Fed-Induced Bear Market. How To Protect It.</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 Old Man's Still Got It: Warren Buffett's Berkshire Hathaway Hits an All-Time High, But Is Still Vulnerable To a Fed-Induced Bear Market. How To Protect It.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-18 07:46 GMT+8 <a href=https://www.benzinga.com/trading-ideas/22/01/25076154/the-old-mans-still-got-it-warren-buffetts-berkshire-hathaway-hits-an-all-time-high-but-is-still-vul><strong>benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"He's old, and he's washed up.\" Dave Portnoy on Warren Buffett, June 9th, 2020 (screen capture via Twitter).Berkshire Hathaway Hits An All-Time HighBack in June of 2020, Dave Portnoy was a few months ...</p>\n\n<a href=\"https://www.benzinga.com/trading-ideas/22/01/25076154/the-old-mans-still-got-it-warren-buffetts-berkshire-hathaway-hits-an-all-time-high-but-is-still-vul\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.benzinga.com/trading-ideas/22/01/25076154/the-old-mans-still-got-it-warren-buffetts-berkshire-hathaway-hits-an-all-time-high-but-is-still-vul","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119480541","content_text":"\"He's old, and he's washed up.\" Dave Portnoy on Warren Buffett, June 9th, 2020 (screen capture via Twitter).Berkshire Hathaway Hits An All-Time HighBack in June of 2020, Dave Portnoy was a few months into his day trading career. Portnoy had started trading after COVID lockdowns shut down sporting events, keeping him from sports betting (his company, Barstool Sports, has a sportsbook betting app). At the time, Portnoy compared Warren Buffett's investing acumen invidiously to his own.Since then, shares of Buffett's holding company,Berkshire Hathaway, Inc.(NYSE:BRK-A), (NYSE:BRK-B) have handily outpaced theSPDR S&P 500 TrustSPY+0.05%and Barstool's parent companyPenn National Gaming, Inc.PENN-2.8%, on their way to a new all-time high.Berkshire Isn't Bear Market-Proof ThoughAfter Lehman Brothers went bankrupt on September 9th of 2008, Berkshire Hathaway shares rallied for a couple of weeks before joining in the 2008-2009 bear market.Although bear market warnings have vastly outnumbered actual bear markets over the years, the current market environment of high valuations combined with high inflation and rising interest rates suggests that stock market investors ought to be concerned about downside risk now. Below are a couple of ways of staying long Berkshire while limiting your downside risk in the event we head into a bear market over the next several months.Downside Protection For Berkshire HathawayLet's say you own a thousand shares of Berkshire Hathaway Class B and you can tolerate a 20% drawdown over the next several months, but not one larger than that. Here are two ways of doing that.Uncapped Upside, Positive CostAs of Friday's close, these were the optimal puts to hedge against a >20% drop in BRK-B by mid-June.This and the subsequent screen captures are via the Portfolio Armor iPhone app, but you can also scan for optional hedges with our website.The cost here was $3,350, or 1.03% of position value (calculated conservatively, using the ask price; you can often buy and sell options at some price between the bid and ask). That cost is pretty low. By way of comparison, the cost of hedging SPY against the same decline threshold over the same time frame was 1.25% of position value.Capped Upside, Negative CostIf you were willing to cap your possible upside at 11%, this was the optimal collar to protect against a >20% drop over the same time frame.Here, the cost was negative, meaning you would have collected a net credit of $880 when opening this collar, assuming you placed both trades at the worst ends of their respective spreads (buying the puts at the ask and selling the calls at the bid).Something to consider if you're long Berkshire shares and want to limit your downside risk.","news_type":1},"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
