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PeanutButterMonster

PeanutButterMonster

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PeanutButterMonster

01-30

Great article

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PeanutButterMonster

2023-10-02

Yay

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PeanutButterMonster

2023-05-24

Revenue vs market cap also very big multiple

1 Monster Opportunity in the Global Chip Shortage

PeanutButterMonster

2023-05-02

Yay

Sorry, the original content has been removed

PeanutButterMonster

2023-05-02

Did First Republic Back management escape unscathed??

JPMorgan Chase Buys First Republic After FDIC Seizure: Is the Banking Crisis Over?

PeanutButterMonster

2023-05-01

Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting

Charlie Munger: US Banks Are "Full of" Bad Commercial Property Loans

PeanutButterMonster

2023-04-27

Concerning

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PeanutButterMonster

2023-04-27

A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?

4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends

PeanutButterMonster

2023-04-26

Don't underestimate Google

Google Beats Q1 Earnings: I'll Stay Long

PeanutButterMonster

2023-04-24

Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....

Alphabet CEO’s Pay Soars to $226 Million on Massive Stock Award

PeanutButterMonster

2023-04-24

Fed is in between a rock and a hard place

Musk Sees Parallels With The 1929 Crash And The Great Depression

PeanutButterMonster

2023-04-24

Envelopes design could be converted to ang pow design for Netflix customers

Sorry, the original content has been removed

PeanutButterMonster

2023-04-23

Might as well play roulette

Day Traders Lose $358,000 Per Day Gambling on Zero-Day Options

PeanutButterMonster

2023-04-23

Keep interating.. They will get there

After SpaceX's Starship Rocket Explosion -- Debris, Data and Analysis

PeanutButterMonster

2023-04-23

Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips

The Battle for the Future of the Car Is On. Tech Is a Weapon

PeanutButterMonster

2023-04-23

Never a dull moment with Musk

In 24 Hours, Elon Musk Reignited His Reputation for Risk

PeanutButterMonster

2023-04-21

Tractor supply company is interesting, not generally mentioned

4 U.S. Growth Stocks Whose Share Prices Can Continue Climbing

PeanutButterMonster

2023-04-18

Maybe 420 is Elon's lucky charm

SpaceX Plans Starship Launch April 20 in Second Lift-Off Try

PeanutButterMonster

2023-04-18

Now the everyday Joe can become a quant

ChatGPT Can Decode Fed Speak, Predict Stock Moves from Headlines

PeanutButterMonster

2023-04-15

One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?

Elon Musk to Start AI Rival in Challenge to OpenAI

Go to Tiger App to see more news

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vs market cap also very big multiple&nbsp;","listText":"Revenue vs market cap also very big multiple&nbsp;","text":"Revenue vs market cap also very big multiple","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970798332","repostId":"2337457950","repostType":2,"repost":{"id":"2337457950","pubTimestamp":1684927292,"share":"https://www.laohu8.com/m/news/2337457950?lang=&edition=full","pubTime":"2023-05-24 19:21","market":"us","language":"en","title":"1 Monster Opportunity in the Global Chip Shortage","url":"https://stock-news.laohu8.com/highlight/detail?id=2337457950","media":"Motley Fool","summary":"This chip giant seems to be enjoying solid demand thanks to the growing adoption of artificial intelligence applications.","content":"<html><head></head><body><p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That&#39;s when the demand for electronic devices skyrocketed thanks to shelter-in-place orders, and it led to a spurt in sales of personal computers (PCs), gaming consoles, and smartphones, among other things.</p><p>While the semiconductor shortage has eased somewhat since (partly because the pent-up demand for consumer electronics devices subsided and because chipmakers brought more capacity online), there is one area where chip scarcity is rearing its head once again.</p><p>Tech-focused business publication <em>The Information</em> pointed out last month that there was a massive spike in demand for server chips required for training and running artificial intelligence (AI) applications. That&#39;s not surprising as the AI chip market is expected to generate over $227 billion in annual revenue by 2032, clocking yearly growth of 30% over the next decade.</p><p>One company stands to win big from this market -- <a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>. And the evidence for that can be seen in the emerging shortage of AI chips. Let&#39;s take a closer look at what&#39;s going on in the chip markets and how it might benefit Nvidia stock owners.</p><h2>Customers are reportedly waiting to get their hands on Nvidia&#39;s chips</h2><p>According to <em>The Information</em>, cloud infrastructure providers such as <strong>Amazon</strong>, <strong>Microsoft</strong>, <strong>Alphabet</strong>&#39;s Google, and <strong>Oracle</strong> are running at capacity thanks to the booming demand for AI software. Training and running AI software and workload requires graphics processing units (GPUs), which are chips capable of computing massive amounts of data.</p><p>Nvidia is the leader in the GPU market. The company controls 85% of discrete graphics cards that are used by gamers in PCs, while its share of enterprise GPUs (which are deployed in data centers for AI and other workloads) reportedly stands at more than 90%. So, it is not surprising to see that there is a waiting period for Nvidia&#39;s GPUs.</p><p>The semiconductor giant is reportedly sitting on an order backlog of two to three months for its cloud server chips. It is now feared that the waiting time for Nvidia&#39;s chips will slow down the development of generative AI applications. However, there are a few reasons why Nvidia may be able to overcome this shortage and speed up customers&#39; AI initiatives.</p><h2>The tech giant is setting itself up to take advantage of this massive market</h2><p>Nvidia is reportedly placing more chip orders with its foundry partner <strong>Taiwan Semiconductor Manufacturing</strong>, popularly known as TSMC. Taiwan-based newspaper <em>DigiTimes</em> reports that TSMC has reportedly committed to delivering 10% to 20% additional chip on wafer on substrate (CoWoS) packaging to Nvidia that is meant for deployment in high-performance computing (HPC) applications.</p><p>More importantly, Nvidia&#39;s new generation of data center GPUs could reduce the number of chips needed to train and run AI models. The company&#39;s latest generation H100 Hopper data center GPUs are reportedly up to 9 times faster in training AI models and 30 times faster during inferencing. What&#39;s more, Nvidia is providing access to a much faster AI chip at prices that are reportedly two to three times its previous generation A100 data center GPUs that are powering Microsoft and OpenAI&#39;s popular chatbot ChatGPT.</p><p>In simpler words, Nvidia customers can now tackle much larger AI workloads with the H100 GPUs at an incrementally lower price as compared to the company&#39;s prior-generation A100 GPUs. So, it won&#39;t be surprising to see the demand for Nvidia&#39;s H100 GPUs improve in the future, especially considering that customers will need fewer of those chips to meet their AI-related needs.</p><p>Given that the H100 GPUs are priced significantly higher than their predecessors, Nvidia could witness stronger margins and enjoy robust earnings growth in the long run. The good part is that Nvidia&#39;s H100 GPUs are already witnessing healthy demand as they are powering multiple generative AI applications from different customers.</p><p>All this indicates that Nvidia could continue to dominate the AI chip market. One Wall Street analyst says that the AI opportunity could lead to a 5-times jump in Nvidia&#39;s stock price over the next decade. So, investors who are still of two minds about buying Nvidia stock following its 114% gains in 2023 can still consider buying the stock.</p><p>Of course, some might argue that Nvidia trades at an expensive 173 times trailing earnings right now. However, its forward price-to-earnings (P/E) ratio of 67 points toward a solid bottom-line jump, which means that investors with the risk appetite to buy this richly valued AI stock can still buy it as it can deliver more upside even after terrific gains in 2023.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>1 Monster Opportunity in the Global Chip Shortage</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\">\n1 Monster Opportunity in the Global Chip Shortage\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-24 19:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2337457950","content_text":"The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed thanks to shelter-in-place orders, and it led to a spurt in sales of personal computers (PCs), gaming consoles, and smartphones, among other things.While the semiconductor shortage has eased somewhat since (partly because the pent-up demand for consumer electronics devices subsided and because chipmakers brought more capacity online), there is one area where chip scarcity is rearing its head once again.Tech-focused business publication The Information pointed out last month that there was a massive spike in demand for server chips required for training and running artificial intelligence (AI) applications. That's not surprising as the AI chip market is expected to generate over $227 billion in annual revenue by 2032, clocking yearly growth of 30% over the next decade.One company stands to win big from this market -- Nvidia. And the evidence for that can be seen in the emerging shortage of AI chips. Let's take a closer look at what's going on in the chip markets and how it might benefit Nvidia stock owners.Customers are reportedly waiting to get their hands on Nvidia's chipsAccording to The Information, cloud infrastructure providers such as Amazon, Microsoft, Alphabet's Google, and Oracle are running at capacity thanks to the booming demand for AI software. Training and running AI software and workload requires graphics processing units (GPUs), which are chips capable of computing massive amounts of data.Nvidia is the leader in the GPU market. The company controls 85% of discrete graphics cards that are used by gamers in PCs, while its share of enterprise GPUs (which are deployed in data centers for AI and other workloads) reportedly stands at more than 90%. So, it is not surprising to see that there is a waiting period for Nvidia's GPUs.The semiconductor giant is reportedly sitting on an order backlog of two to three months for its cloud server chips. It is now feared that the waiting time for Nvidia's chips will slow down the development of generative AI applications. However, there are a few reasons why Nvidia may be able to overcome this shortage and speed up customers' AI initiatives.The tech giant is setting itself up to take advantage of this massive marketNvidia is reportedly placing more chip orders with its foundry partner Taiwan Semiconductor Manufacturing, popularly known as TSMC. Taiwan-based newspaper DigiTimes reports that TSMC has reportedly committed to delivering 10% to 20% additional chip on wafer on substrate (CoWoS) packaging to Nvidia that is meant for deployment in high-performance computing (HPC) applications.More importantly, Nvidia's new generation of data center GPUs could reduce the number of chips needed to train and run AI models. The company's latest generation H100 Hopper data center GPUs are reportedly up to 9 times faster in training AI models and 30 times faster during inferencing. What's more, Nvidia is providing access to a much faster AI chip at prices that are reportedly two to three times its previous generation A100 data center GPUs that are powering Microsoft and OpenAI's popular chatbot ChatGPT.In simpler words, Nvidia customers can now tackle much larger AI workloads with the H100 GPUs at an incrementally lower price as compared to the company's prior-generation A100 GPUs. So, it won't be surprising to see the demand for Nvidia's H100 GPUs improve in the future, especially considering that customers will need fewer of those chips to meet their AI-related needs.Given that the H100 GPUs are priced significantly higher than their predecessors, Nvidia could witness stronger margins and enjoy robust earnings growth in the long run. The good part is that Nvidia's H100 GPUs are already witnessing healthy demand as they are powering multiple generative AI applications from different customers.All this indicates that Nvidia could continue to dominate the AI chip market. One Wall Street analyst says that the AI opportunity could lead to a 5-times jump in Nvidia's stock price over the next decade. So, investors who are still of two minds about buying Nvidia stock following its 114% gains in 2023 can still consider buying the stock.Of course, some might argue that Nvidia trades at an expensive 173 times trailing earnings right now. However, its forward price-to-earnings (P/E) ratio of 67 points toward a solid bottom-line jump, which means that investors with the risk appetite to buy this richly valued AI stock can still buy it as it can deliver more upside even after terrific gains in 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947699624,"gmtCreate":1683018859669,"gmtModify":1683018863415,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947699624","repostId":"2332934815","repostType":2,"isVote":1,"tweetType":1,"viewCount":259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947601218,"gmtCreate":1683006487435,"gmtModify":1683006959041,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Did First Republic Back management escape unscathed??","listText":"Did First Republic Back management escape unscathed??","text":"Did First Republic Back management escape unscathed??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947601218","repostId":"2332671317","repostType":2,"repost":{"id":"2332671317","pubTimestamp":1682999653,"share":"https://www.laohu8.com/m/news/2332671317?lang=&edition=full","pubTime":"2023-05-02 11:54","market":"us","language":"en","title":"JPMorgan Chase Buys First Republic After FDIC Seizure: Is the Banking Crisis Over?","url":"https://stock-news.laohu8.com/highlight/detail?id=2332671317","media":"Motley Fool","summary":"JPMorgan CEO Jamie Dimon: \"Everyone should just take a deep breath.\"","content":"<html><head></head><body><p>The saga of <a href=\"https://laohu8.com/S/FRC\">First Republic Bank</a> came to a close over the weekend, as the Federal Deposit Insurance Corporation (FDIC) took over the San Francisco-based financial institution. The regulatory agency then entered into an agreement with the banking subsidiary of <a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase </a> under which the Wall Street giant will assume all of First Republic&#39;s deposits and substantially all of the embattled bank&#39;s assets.</p><p>The move is the latest in a series of bank failures this year, and it once again raised concerns about the stability of the financial system more broadly. But the news was good for depositors of First Republic, and JPMorgan&#39;s stock was up Monday morning.</p><h2>How did the deal get done?</h2><p>The FDIC held a snap auction, soliciting competitive bids from several different financial institutions. Various reports named banks including <a href=\"https://laohu8.com/S/PNC\">PNC Financial, Citizens Financial</a>, <a href=\"https://laohu8.com/S/USB\">U.S. Bancorp</a>, and Bank of America as possibly having received invitations from the FDIC to request bids for First Republic, although those banks generally chose not to comment on those reports.</p><p>In the end, JPMorgan agreed to acquire $173 billion in loans and $30 billion in securities, taking on responsibility for $92 billion in deposits and $28 billion in Federal Home Loan Bank advances. JPMorgan will pay $10.6 billion to the FDIC, but it did not assume First Republic&#39;s corporate debt or preferred stock obligations.</p><p>In addition, the FDIC agreed to enter into a loss-share transaction with JPMorgan under which the agency will provide 80% loss coverage for seven years on mortgage loans and five years on commercial loans. The two entities will share in losses and potential recoveries on the loans covered under the agreement. The FDIC believes that by keeping those bank assets in the private sector rather than bringing them into the public auction process, it and JPMorgan will get the most in recoveries over the long run. Moreover, the arrangement will be less disruptive for loan customers, many of whom may avoid seeing changes or efforts to renegotiate terms.</p><p>The FDIC estimates there will be a $13 billion cost to the Deposit Insurance Fund, which is paid for mostly by financial institutions and contains no taxpayer money.</p><h2>What the FDIC-JPMorgan deal means for bank customers</h2><p>For current First Republic customers, the FDIC&#39;s arrangement with JPMorgan ensures an orderly continuation of business. The 84 branch offices that First Republic has in eight different states will reopen Monday as new branches of JPMorgan Chase.</p><p>Accountholders will have full access to their deposits with no delays, and those deposits will remain insured by the FDIC. Customers won&#39;t have to do anything to retain deposit insurance up to applicable limits. As for those who worked at First Republic, JPMorgan said that it was &#34;committed to treating  employees with respect, care and transparency.&#34;</p><h2>Why JPMorgan stock is climbing</h2><p>For JPMorgan Chase, the move was a win, and the stock climbed 2.5% when trading opened Monday. As the bank sees it, it will get an internal rate of return of more than 20% on the deal while maintaining capital ratios at strong levels. JPMorgan expects a better than $500 million accretion to net income and believes that the transaction will boost its tangible book value per share.</p><p>Strategically, the move also favors JPMorgan&#39;s business. First Republic concentrated on high-net-worth clients who should be interested in JPMorgan&#39;s growing wealth management business. Branch locations on the West Coast will also add to JPMorgan&#39;s physical footprint, supporting further expansion.</p><h2>So is the banking crisis over?</h2><p>For JPMorgan&#39;s part, CEO Jamie Dimon already said early in April that he believed  the banking crisis was nearing an end. He didn&#39;t foreclose the possibility of further individual bank failures, but as long as none of the problems with any given bank led to a domino effect of contagion with other financial institutions, Dimon believed that such failures could be orderly and not affect the safety of the banking system as a whole.</p><p>In Monday morning&#39;s conference call on the deal, Dimon reiterated that sentiment: &#34;No crystal ball is perfect, but yes, I think the banking system is very stable. ... This part of the crisis is over. That does not -- down the road, there are rates going way up, real estate, recession, that&#39;s a whole different issue. But for now, everyone should just take a deep breath.&#34;</p><p>What is certain is that scrutiny of regional banks has never been higher, and many banking officials across the industry expect that the failure of First Republic and other banks will result in greater regulation. That could eventually have implications for investors, but they would be less dramatic than the abrupt collapses we&#39;ve seen recently.</p><p>Bank investors can expect to keep hearing news about various regional banks and their exposure to bond losses and potential deposit outflows for a while. As all the skeletons in the closet get discovered, though, the chances of an all-out crisis should diminish.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Chase Buys First Republic After FDIC Seizure: Is the Banking Crisis Over?</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\">\nJPMorgan Chase Buys First Republic After FDIC Seizure: Is the Banking Crisis Over?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-02 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/05/01/jpmorgan-buys-first-republic-banking-crisis-over/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The saga of First Republic Bank came to a close over the weekend, as the Federal Deposit Insurance Corporation (FDIC) took over the San Francisco-based financial institution. The regulatory agency ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/01/jpmorgan-buys-first-republic-banking-crisis-over/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU1261432733.SGD":"Fidelity World A-ACC-SGD","SG9999002232.USD":"Allianz Global High Payout USD","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","SG9999002224.SGD":"Allianz Global High Payout SGD","BK4566":"资本集团","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0106831901.USD":"贝莱德世界金融基金A2","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4550":"红杉资本持仓","BK4588":"碎股","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0971096721.USD":"富达环球金融服务 A","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","BK4207":"综合性银行","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","BK4581":"高盛持仓","LU0882574139.USD":"富达环球消费行业基金A ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4504":"桥水持仓","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","FRCB":"第一共和银行","JPM":"摩根大通","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"source_url":"https://www.fool.com/investing/2023/05/01/jpmorgan-buys-first-republic-banking-crisis-over/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2332671317","content_text":"The saga of First Republic Bank came to a close over the weekend, as the Federal Deposit Insurance Corporation (FDIC) took over the San Francisco-based financial institution. The regulatory agency then entered into an agreement with the banking subsidiary of JPMorgan Chase  under which the Wall Street giant will assume all of First Republic's deposits and substantially all of the embattled bank's assets.The move is the latest in a series of bank failures this year, and it once again raised concerns about the stability of the financial system more broadly. But the news was good for depositors of First Republic, and JPMorgan's stock was up Monday morning.How did the deal get done?The FDIC held a snap auction, soliciting competitive bids from several different financial institutions. Various reports named banks including PNC Financial, Citizens Financial, U.S. Bancorp, and Bank of America as possibly having received invitations from the FDIC to request bids for First Republic, although those banks generally chose not to comment on those reports.In the end, JPMorgan agreed to acquire $173 billion in loans and $30 billion in securities, taking on responsibility for $92 billion in deposits and $28 billion in Federal Home Loan Bank advances. JPMorgan will pay $10.6 billion to the FDIC, but it did not assume First Republic's corporate debt or preferred stock obligations.In addition, the FDIC agreed to enter into a loss-share transaction with JPMorgan under which the agency will provide 80% loss coverage for seven years on mortgage loans and five years on commercial loans. The two entities will share in losses and potential recoveries on the loans covered under the agreement. The FDIC believes that by keeping those bank assets in the private sector rather than bringing them into the public auction process, it and JPMorgan will get the most in recoveries over the long run. Moreover, the arrangement will be less disruptive for loan customers, many of whom may avoid seeing changes or efforts to renegotiate terms.The FDIC estimates there will be a $13 billion cost to the Deposit Insurance Fund, which is paid for mostly by financial institutions and contains no taxpayer money.What the FDIC-JPMorgan deal means for bank customersFor current First Republic customers, the FDIC's arrangement with JPMorgan ensures an orderly continuation of business. The 84 branch offices that First Republic has in eight different states will reopen Monday as new branches of JPMorgan Chase.Accountholders will have full access to their deposits with no delays, and those deposits will remain insured by the FDIC. Customers won't have to do anything to retain deposit insurance up to applicable limits. As for those who worked at First Republic, JPMorgan said that it was \"committed to treating  employees with respect, care and transparency.\"Why JPMorgan stock is climbingFor JPMorgan Chase, the move was a win, and the stock climbed 2.5% when trading opened Monday. As the bank sees it, it will get an internal rate of return of more than 20% on the deal while maintaining capital ratios at strong levels. JPMorgan expects a better than $500 million accretion to net income and believes that the transaction will boost its tangible book value per share.Strategically, the move also favors JPMorgan's business. First Republic concentrated on high-net-worth clients who should be interested in JPMorgan's growing wealth management business. Branch locations on the West Coast will also add to JPMorgan's physical footprint, supporting further expansion.So is the banking crisis over?For JPMorgan's part, CEO Jamie Dimon already said early in April that he believed  the banking crisis was nearing an end. He didn't foreclose the possibility of further individual bank failures, but as long as none of the problems with any given bank led to a domino effect of contagion with other financial institutions, Dimon believed that such failures could be orderly and not affect the safety of the banking system as a whole.In Monday morning's conference call on the deal, Dimon reiterated that sentiment: \"No crystal ball is perfect, but yes, I think the banking system is very stable. ... This part of the crisis is over. That does not -- down the road, there are rates going way up, real estate, recession, that's a whole different issue. But for now, everyone should just take a deep breath.\"What is certain is that scrutiny of regional banks has never been higher, and many banking officials across the industry expect that the failure of First Republic and other banks will result in greater regulation. That could eventually have implications for investors, but they would be less dramatic than the abrupt collapses we've seen recently.Bank investors can expect to keep hearing news about various regional banks and their exposure to bond losses and potential deposit outflows for a while. As all the skeletons in the closet get discovered, though, the chances of an all-out crisis should diminish.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947884445,"gmtCreate":1682924140888,"gmtModify":1682924145309,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","listText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","text":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947884445","repostId":"1139971500","repostType":2,"repost":{"id":"1139971500","pubTimestamp":1682898506,"share":"https://www.laohu8.com/m/news/1139971500?lang=&edition=full","pubTime":"2023-05-01 07:48","market":"us","language":"en","title":"Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans","url":"https://stock-news.laohu8.com/highlight/detail?id=1139971500","media":"Financial Times","summary":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American ban","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/421f865ff9ae1b182c5661175627c32a\" alt=\" \t\" title=\" \t\" tg-width=\"700\" tg-height=\"394\"/><span> \t</span></p><p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.</p><p>The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.</p><p>“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.”</p><p>Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles where he has lived for 60 years since he designed the property himself.</p><p>Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.</p><p>Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.</p><p>But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.”</p><p>Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”</p><p>He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.”</p><p>Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67b9dc3399d647d6e77df5fadee12f22\" title=\"Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959\" tg-width=\"700\" tg-height=\"466\"/><span>Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959</span></p><p>Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.</p><p>In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.”</p><p>This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&amp;P 500 stock index, since 1965.</p><p>“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding he had lived during “a perfect period to be a common stock investor”.</p><p>He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities ”, he said.</p><p>Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.</p><p>“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.”</p><p>Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.</p><p>But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.</p><p>“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.</p><p>“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.</p><p>Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.</p><p>Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.</p><p>He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”</p><p>“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.”</p><p>Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.”</p><p>On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”</p></body></html>","source":"lsy1580170736413","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>Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans</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\">\nCharlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-01 07:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b><strong>Financial Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old...</p>\n\n<a href=\"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","C":"花旗","BRK.B":"伯克希尔B","WFC":"富国银行","JPM":"摩根大通","BAC":"美国银行","BX":"黑石"},"source_url":"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139971500","content_text":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.”Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles where he has lived for 60 years since he designed the property himself.Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.”Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.”Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.”This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&P 500 stock index, since 1965.“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding he had lived during “a perfect period to be a common stock investor”.He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities ”, he said.Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.”Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.”Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.”On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947365795,"gmtCreate":1682587375617,"gmtModify":1682587379214,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Concerning","listText":"Concerning","text":"Concerning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947365795","repostId":"2302045599","repostType":2,"isVote":1,"tweetType":1,"viewCount":131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947365448,"gmtCreate":1682587333984,"gmtModify":1682587337911,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?","listText":"A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?","text":"A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947365448","repostId":"2326938109","repostType":2,"repost":{"id":"2326938109","pubTimestamp":1681437412,"share":"https://www.laohu8.com/m/news/2326938109?lang=&edition=full","pubTime":"2023-04-14 09:56","market":"sg","language":"en","title":"4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends","url":"https://stock-news.laohu8.com/highlight/detail?id=2326938109","media":"The Smart Investor","summary":"These four stocks may be temporarily affected by the microchip downturn, but remain poised to pay out higher dividends once the recovery takes hold.","content":"<html><head></head><body><p>The world enjoyed a strong surge in demand for personal computers (PCs), mobile phones and connected devices as the pandemic pushed many to go online.</p><p>As we pass the third year after the pandemic broke out, this demand has started to wane.</p><p>A combination of weak demand, excess inventory and an uncertain macroeconomic climate has led to a sharp drop in PCs for 2023’s first quarter (1Q 2023).</p><p>Global shipments contracted 29% year on year for 1Q 2023, with blue-chip technology firm <strong>Apple</strong> (NASDAQ: AAPL) seeing a 40% year-on-year plunge.</p><p>No downturn lasts forever, though.</p><p>When the upturn arrives, semiconductor-related stocks will be in a great position to enjoy higher profits.</p><p>And when they do so, they will also be able to dole out higher dividends.</p><p>Here are four such stocks that are well-positioned to benefit from the inevitable recovery.</p><h2>UMS Holdings Limited (SGX: 558)</h2><p>UMS does not seem to be affected yet by the downturn in the semiconductor industry.</p><p>The group provides equipment manufacturing and engineering services to original equipment manufacturers of semiconductors and related products.</p><p>UMS’ revenue for 2022 jumped 37% year on year to S$372.3 million while its net profit surged 85% year on year to S$98.2 million.</p><p>The group also churned out a positive free cash flow of S$41.8 million last year.</p><p>A final dividend of S$0.02 was proposed, similar to what was paid out in the prior year.</p><p>Total dividends for 2022 came up to S$0.05, giving the manufacturer’s shares a historical dividend yield of 4.5%.</p><p>CEO Andy Luong expects demand in the next six months to head down but the group’s order book remains healthy and it will continue to expand its capacity to prepare for customer orders.</p><p>He remains upbeat about UMS’ prospects as both the semiconductor and aerospace industries have “bright futures” that should help to drive growth for the group in the years ahead.</p><h2>Venture Corporation Ltd (SGX: V03)</h2><p>Venture Corporation is a provider of technology products, services and solutions and serves a wide variety of sectors such as life sciences, medical devices and equipment, and networking and communications.</p><p>It also manages a portfolio of more than 5,000 products and solutions.</p><p>The group reported a decent set of earnings for 2022, with revenue climbing 24.3% year on year to S$3.9 billion.</p><p>Net profit improved by 18.4% year on year to S$369.6 million.</p><p>Venture’s free cash flow also surged 160.3% year on year from S$90.5 million in 2021 to S$235.5 million in 2022.</p><p>A total dividend of S$0.75 was paid out in 2022, unchanged from a year ago, giving Venture’s shares a trailing dividend yield of 4.2%</p><p>The group has acknowledged that the economic environment remains uncertain but it will continue to deepen its relationship with its customers to ensure a consistent flow of business.</p><h2>AEM Holdings Ltd (SGX: AWX)</h2><p>AEM is a test innovation leader that provides comprehensive semiconductor and electronic test solutions.</p><p>The semiconductor slowdown had a noticeable effect on AEM’s second-half 2022 (2H 2022) results.</p><p>Revenue fell by 12% year on year to S$330 million while operating profit declined by 24% year on year to S$57.2 million.</p><p>Net profit plunged by 30% year on year to S$44 million.</p><p>Despite the weaker results, AEM paid out a total dividend of S$0.103 for 2022, higher than the S$0.076 paid out the year before. As it stands, shares yield around 3.1%.</p><p>Management is providing a weak revenue guidance of just S$500 million for 2023 (2022’s revenue: S$870.5 million) as rising interest rates lead to lower capital expenditure amid a supply glut.</p><p>The group should see its revenue from its new customers more than double in 2023, which should make up partially for this weakness.</p><p>Management remains confident that its Test 2.0 solutions can continue to serve its customers well for its next-generation product lines.</p><h2>Grand Venture Technology Ltd (SGX: JLB)</h2><p>Grand Venture is a solution and services provider for the manufacture of complex precision machining, sheet metal components, and mechatronics modules.</p><p>Its portfolio of customers comes from the semiconductor, electronics, aerospace, medical, and life sciences sectors.</p><p>Revenue for 2022 rose 12.8% year on year to S$131.1 million.</p><p>Net profit, however, tumbled 24.1% year on year to S$13.3 million.</p><p>Grand Venture declared a final dividend of S$0.003, below the S$0.005 paid out a year ago.</p><p>Together with the interim dividend of S$0.003, the total dividend for 2022 came up to S$0.006, giving its shares a trailing dividend yield of 1.2%.</p><p>Demand from the back-end semiconductor was impacted but it was balanced out by better performances from the Life Sciences, Aerospace, and Medical industries.</p><p>The group remains optimistic about the mid to long-term fundamentals underpinning the semiconductor sector.</p><p>It has also onboarded new front-end semiconductor clients and should see capacity utilisation improvements in the later part of 2023.</p></body></html>","source":"thesmartinvestor_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends</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{ 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float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-14 09:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/4-singapore-semiconductor-stocks-well-positioned-to-pay-higher-dividends/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The world enjoyed a strong surge in demand for personal computers (PCs), mobile phones and connected devices as the pandemic pushed many to go online.As we pass the third year after the pandemic broke...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/4-singapore-semiconductor-stocks-well-positioned-to-pay-higher-dividends/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AWX.SI":"永科","V03.SI":"创业公司","558.SI":"UMS控股","JLB.SI":"杰纬特科技有限公司"},"source_url":"https://thesmartinvestor.com.sg/4-singapore-semiconductor-stocks-well-positioned-to-pay-higher-dividends/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2326938109","content_text":"The world enjoyed a strong surge in demand for personal computers (PCs), mobile phones and connected devices as the pandemic pushed many to go online.As we pass the third year after the pandemic broke out, this demand has started to wane.A combination of weak demand, excess inventory and an uncertain macroeconomic climate has led to a sharp drop in PCs for 2023’s first quarter (1Q 2023).Global shipments contracted 29% year on year for 1Q 2023, with blue-chip technology firm Apple (NASDAQ: AAPL) seeing a 40% year-on-year plunge.No downturn lasts forever, though.When the upturn arrives, semiconductor-related stocks will be in a great position to enjoy higher profits.And when they do so, they will also be able to dole out higher dividends.Here are four such stocks that are well-positioned to benefit from the inevitable recovery.UMS Holdings Limited (SGX: 558)UMS does not seem to be affected yet by the downturn in the semiconductor industry.The group provides equipment manufacturing and engineering services to original equipment manufacturers of semiconductors and related products.UMS’ revenue for 2022 jumped 37% year on year to S$372.3 million while its net profit surged 85% year on year to S$98.2 million.The group also churned out a positive free cash flow of S$41.8 million last year.A final dividend of S$0.02 was proposed, similar to what was paid out in the prior year.Total dividends for 2022 came up to S$0.05, giving the manufacturer’s shares a historical dividend yield of 4.5%.CEO Andy Luong expects demand in the next six months to head down but the group’s order book remains healthy and it will continue to expand its capacity to prepare for customer orders.He remains upbeat about UMS’ prospects as both the semiconductor and aerospace industries have “bright futures” that should help to drive growth for the group in the years ahead.Venture Corporation Ltd (SGX: V03)Venture Corporation is a provider of technology products, services and solutions and serves a wide variety of sectors such as life sciences, medical devices and equipment, and networking and communications.It also manages a portfolio of more than 5,000 products and solutions.The group reported a decent set of earnings for 2022, with revenue climbing 24.3% year on year to S$3.9 billion.Net profit improved by 18.4% year on year to S$369.6 million.Venture’s free cash flow also surged 160.3% year on year from S$90.5 million in 2021 to S$235.5 million in 2022.A total dividend of S$0.75 was paid out in 2022, unchanged from a year ago, giving Venture’s shares a trailing dividend yield of 4.2%The group has acknowledged that the economic environment remains uncertain but it will continue to deepen its relationship with its customers to ensure a consistent flow of business.AEM Holdings Ltd (SGX: AWX)AEM is a test innovation leader that provides comprehensive semiconductor and electronic test solutions.The semiconductor slowdown had a noticeable effect on AEM’s second-half 2022 (2H 2022) results.Revenue fell by 12% year on year to S$330 million while operating profit declined by 24% year on year to S$57.2 million.Net profit plunged by 30% year on year to S$44 million.Despite the weaker results, AEM paid out a total dividend of S$0.103 for 2022, higher than the S$0.076 paid out the year before. As it stands, shares yield around 3.1%.Management is providing a weak revenue guidance of just S$500 million for 2023 (2022’s revenue: S$870.5 million) as rising interest rates lead to lower capital expenditure amid a supply glut.The group should see its revenue from its new customers more than double in 2023, which should make up partially for this weakness.Management remains confident that its Test 2.0 solutions can continue to serve its customers well for its next-generation product lines.Grand Venture Technology Ltd (SGX: JLB)Grand Venture is a solution and services provider for the manufacture of complex precision machining, sheet metal components, and mechatronics modules.Its portfolio of customers comes from the semiconductor, electronics, aerospace, medical, and life sciences sectors.Revenue for 2022 rose 12.8% year on year to S$131.1 million.Net profit, however, tumbled 24.1% year on year to S$13.3 million.Grand Venture declared a final dividend of S$0.003, below the S$0.005 paid out a year ago.Together with the interim dividend of S$0.003, the total dividend for 2022 came up to S$0.006, giving its shares a trailing dividend yield of 1.2%.Demand from the back-end semiconductor was impacted but it was balanced out by better performances from the Life Sciences, Aerospace, and Medical industries.The group remains optimistic about the mid to long-term fundamentals underpinning the semiconductor sector.It has also onboarded new front-end semiconductor clients and should see capacity utilisation improvements in the later part of 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947945462,"gmtCreate":1682511138456,"gmtModify":1682511143624,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Don't underestimate Google","listText":"Don't underestimate Google","text":"Don't underestimate Google","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947945462","repostId":"1164465293","repostType":4,"repost":{"id":"1164465293","pubTimestamp":1682509507,"share":"https://www.laohu8.com/m/news/1164465293?lang=&edition=full","pubTime":"2023-04-26 19:45","market":"us","language":"en","title":"Google Beats Q1 Earnings: I'll Stay Long","url":"https://stock-news.laohu8.com/highlight/detail?id=1164465293","media":"Seekingalpha","summary":"SummaryAlphabet Inc./Google just released its first quarter earnings.The release easily beat analyst","content":"<html><head></head><body><h2 style=\"text-align: left;\">Summary</h2><ul><li><p>Alphabet Inc./Google just released its first quarter earnings.</p></li><li><p>The release easily beat analyst estimates on revenue as well as on earnings per share.</p></li><li><p>Heading into the first quarter, I was optimistic that Google&#39;s cost cutting would have an effect on the bottom line.</p></li><li><p>In the end, it did.</p></li><li><p>In this article, I&#39;ll explain why I remain bullish on Alphabet stock after its first quarter earnings release.</p></li></ul><p><strong>Alphabet Inc.</strong> (NASDAQ:GOOG, NASDAQ:GOOGL), hereafter referred to as “Google,” just released its first quarter earnings. The release showed $1.17 in first quarter earnings per share, and $69.7 billion in revenue. The metrics beat analysts’ estimates on both the top and bottom lines. Far and away the most impressive thing in the release was Google Cloud’s swing to positive EBIT profits, a first for that segment.</p><p style=\"text-align: left;\">Overall, Google’s first quarter release was about in line with what I expected. I knew going into the release that Google’s layoffs would eventually boost earnings, but I also knew that the company had $1.9B to $2.3B in severance pay to hand out. Given this fact, it was not surprising that Google’s earnings declined once more. The severance pay was a hurdle that had to be cleared before earnings could start climbing again.</p><p style=\"text-align: left;\">Given that most of Google’s severance pay has been paid out, it looks like the company has an opportunity to start growing earnings again later this year. With $69.7 billion in first quarter revenue and a major reduction in headcount, management has a good foundation to build from.</p><p style=\"text-align: left;\">Expectations were pretty dim heading into Google’s first quarter release. Early in the first quarter, <a href=\"https://laohu8.com/S/MSFT\">Microsoft Corporation</a> made waves by launching its own AI-powered search in Bing. Bing initially wowed reviewers with its ability to search the internet for new information, making it better for news-related queries than ChatGPT was. Later, though, some of the luster came off the chatbot when it was found to have insulted users and delivered inaccurate information. Google’s Chatbot, Bard, had issues of its own, but its launch correlated closely with a rise in Google’s stock price.</p><p style=\"text-align: left;\">Now that Google’s first quarter earnings are out, we have some idea of how all of these projects are going. Tentatively, the picture looks pretty good. In this article, I will explain why I’m moderately bullish on Google stock following its strong first quarter earnings release.</p><h2 style=\"text-align: left;\">Earnings Recap</h2><p style=\"text-align: left;\">In the first quarter, Google delivered:</p><ul><li><p>$69.7 billion in revenue, up 3%, a beat.</p></li><li><p>$15.05 billion in net income, down 8.4%, a beat.</p></li><li><p>$1.17 in diluted EPS, down 4.8%, a beat.</p></li><li><p>$23.5 billion in cash from operations, down 6.3%.</p></li><li><p>$17.22 billion in free cash flow (“FCF”), or $1.34 in FCF per share.</p></li><li><p>$40.83 billion in Google search revenue, up 1.8%</p></li><li><p>$5.86 billion in YouTube ad revenue, down 2.3%.</p></li><li><p>$7.5 billion in cloud revenue, up 29.6%.</p></li><li><p>$191 million in cloud EBIT profits, up from a loss.</p></li></ul><p style=\"text-align: left;\">Overall, it was a decent showing. With $15.05 billion in earnings and $69.7 billion in revenue, Google had a 21.5% profit margin, which indicates healthy profitability. The growth was not so impressive, but some slowdown was to be expected after the heady growth Google enjoyed in 2021.</p><p style=\"text-align: left;\">One highlight of the release was Google Cloud’s EBIT profitability. That was a first for the segment, and with the growth still strong, the contribution to the bottom line could be substantial.</p><h2 style=\"text-align: left;\">Valuation</h2><p style=\"text-align: left;\">Prior to today’s release, Google&#39;s stock traded at the following multiples (according to Seeking Alpha Quant):</p><ul><li><p>P/E: 23.</p></li><li><p>Price/sales: 4.87.</p></li><li><p>Price/book: 5.3.</p></li><li><p>Price/operating cash flow: 14.66.</p></li></ul><p style=\"text-align: left;\">With Google’s first quarter release out, a few of these multiples have changed. For example, the $1.17 in earnings per share changes the P/E ratio to 24.4, which is slightly worse than it was before. Book value and revenue are both largely unchanged from the prior quarter. With the NASDAQ-100 today trading at 23.72 times earnings, it looks like Google is about fairly valued on a sector-relative basis.</p><p style=\"text-align: left;\">We can also look at Alphabet’s valuation from the perspective of discounted cash flows. Trailing 12 month free cash flow per share is currently $4.77, with the $1.34 just added this quarter plus $3.43 from the previous three quarters. Discounted at the 10 year Treasury yield (3.55%), that’s worth $134. If you discount it with a 3% risk premium, it’s worth $86.7. Both of these calculations assume 0% growth into perpetuity, if you take the average of them, it appears to point to Google being slightly undervalued ($110 fair value estimate). So, Google scores relatively well on the value factor compared to the rest of big tech.</p><h2 style=\"text-align: left;\">Looking Ahead</h2><p style=\"text-align: left;\">In addition to releasing its earnings, Google also gave some clues as to what’s in store in the future. Among other things, it has indicated that it will:</p><ul><li><p>Integrate the Bard AI meaningfully into Google search, as Microsoft has done with Bing. The overall effect of this could be mixed. It may help Google shore up its competitive position, as ChatBots are thought to be a threat to search. However, it could also cause a $6 billion hit to EBIT according to <strong>Morgan Stanley</strong> (MS), as chatbots are more expensive to run than Google search currently is.</p></li><li><p>Promote YouTube shorts. Short content has been a big phenomenon in video sharing sites lately, driven by the rapid rise of TikTok. Google is trying to get YouTube engagement up, so it’s likely to keep promoting shorts to get some of the user time that’s being spent on short form video.</p></li><li><p>Continue growing the cloud segment. As Google’s first quarter release showed, the Cloud is by far the biggest growth driver for Google, growing at 29.6% year over year. Google isn’t going to want to let that growth decelerate, as there’s not much growth elsewhere in the business. So, continued investment in the cloud is likely.</p></li></ul><p style=\"text-align: left;\">Overall, Google has some promising investments available to it right now. YouTube is the weak link at the moment, with negative revenue growth, but there has been real strength in the cloud, and Google Search market share is holding up well despite the progress Microsoft has made with Bing. Additionally, at some point in the next month, Google will begin to “lap” prior quarters in which the 2022 earnings decline had already begun, making them easier to grow from. On the whole, there are many reasons to be optimistic about the quarters ahead.</p><h2 style=\"text-align: left;\">Risks and Challenges</h2><p style=\"text-align: left;\">Despite having an overall positive view on Google stock, I think there are many risks and challenges that investors need to be aware of. Some of the most important include:</p><ul><li><p><strong>Currency impacts.</strong> Currency impacts have been holding back Google’s revenue for many quarters now. The U.S. dollar is relatively strong compared to other global currencies at the moment–in particular the euro. With the U.S. dollar making gains, Google’s EU-sourced revenue is becoming less valuable after currency conversion, and that’s partially what’s causing Google’s revenue growth this year to be so underwhelming. If the U.S. dollar keeps making gains, then the reported revenue growth will be even slower, increasing the odds of Google disappointing investors. On the other hand, if the trend in the dollar reverses, it could be a tailwind for Google.</p></li><li><p><strong>Legal risk.</strong> Google is facing multiple different anti-trust investigations right now. Presently, it’s being sued by the U.S. Justice Department for abusing its market position. There are similar actions underway in Europe. These anti-trust lawsuits, when they are successful, can cost tech companies billions of dollars. For example, Google recently got sued for $4.12 billion in Europe, attempted to have the ruling turned over on appeal, but lost at the appellate court. It appears quite likely that Google will be forced to pay out that $4.12 billion.</p></li><li><p><strong>Diminishing market share.</strong> Earlier I mentioned that Google’s market share in Search was still strong. It is: it had 93.17% of the market worldwide. The market share breakdown currently looks good for Google, the problem is that the trends are not heading in its direction: Bing is ever so slightly making gains, having picked up some users with the launch of its AI Chatbot this year. This is not to say that Bing will continue making gains at the expense of Google; if the mass rollout of Bard is a success, then that probably won’t happen. However, Morgan Stanley estimates that including Bard in all Google searches will cost it $6 billion a year in EBIT, so GOOG faces a “stuck between a rock and a hard place” situation here.</p></li></ul><h2 style=\"text-align: left;\">The Bottom Line</h2><p style=\"text-align: left;\">The bottom line about Google’s most recent earnings release is that it confirmed what investors have long believed about the company: that it is a high-moat enterprise whose stock is relatively inexpensive by the standards of its peer group. Google’s revenue growth is still positive, and its most recent earnings, while declining, are nevertheless declining by much less than they were previously. Still, Google stock remains cheaper than most of the other big tech giants. I’m content to keep holding Google stock for the time being.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Google Beats Q1 Earnings: I'll Stay Long</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\">\nGoogle Beats Q1 Earnings: I'll Stay Long\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-26 19:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4596535-google-beats-q1-earnings-ill-stay-long><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlphabet Inc./Google just released its first quarter earnings.The release easily beat analyst estimates on revenue as well as on earnings per share.Heading into the first quarter, I was ...</p>\n\n<a href=\"https://seekingalpha.com/article/4596535-google-beats-q1-earnings-ill-stay-long\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A"},"source_url":"https://seekingalpha.com/article/4596535-google-beats-q1-earnings-ill-stay-long","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1164465293","content_text":"SummaryAlphabet Inc./Google just released its first quarter earnings.The release easily beat analyst estimates on revenue as well as on earnings per share.Heading into the first quarter, I was optimistic that Google's cost cutting would have an effect on the bottom line.In the end, it did.In this article, I'll explain why I remain bullish on Alphabet stock after its first quarter earnings release.Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL), hereafter referred to as “Google,” just released its first quarter earnings. The release showed $1.17 in first quarter earnings per share, and $69.7 billion in revenue. The metrics beat analysts’ estimates on both the top and bottom lines. Far and away the most impressive thing in the release was Google Cloud’s swing to positive EBIT profits, a first for that segment.Overall, Google’s first quarter release was about in line with what I expected. I knew going into the release that Google’s layoffs would eventually boost earnings, but I also knew that the company had $1.9B to $2.3B in severance pay to hand out. Given this fact, it was not surprising that Google’s earnings declined once more. The severance pay was a hurdle that had to be cleared before earnings could start climbing again.Given that most of Google’s severance pay has been paid out, it looks like the company has an opportunity to start growing earnings again later this year. With $69.7 billion in first quarter revenue and a major reduction in headcount, management has a good foundation to build from.Expectations were pretty dim heading into Google’s first quarter release. Early in the first quarter, Microsoft Corporation made waves by launching its own AI-powered search in Bing. Bing initially wowed reviewers with its ability to search the internet for new information, making it better for news-related queries than ChatGPT was. Later, though, some of the luster came off the chatbot when it was found to have insulted users and delivered inaccurate information. Google’s Chatbot, Bard, had issues of its own, but its launch correlated closely with a rise in Google’s stock price.Now that Google’s first quarter earnings are out, we have some idea of how all of these projects are going. Tentatively, the picture looks pretty good. In this article, I will explain why I’m moderately bullish on Google stock following its strong first quarter earnings release.Earnings RecapIn the first quarter, Google delivered:$69.7 billion in revenue, up 3%, a beat.$15.05 billion in net income, down 8.4%, a beat.$1.17 in diluted EPS, down 4.8%, a beat.$23.5 billion in cash from operations, down 6.3%.$17.22 billion in free cash flow (“FCF”), or $1.34 in FCF per share.$40.83 billion in Google search revenue, up 1.8%$5.86 billion in YouTube ad revenue, down 2.3%.$7.5 billion in cloud revenue, up 29.6%.$191 million in cloud EBIT profits, up from a loss.Overall, it was a decent showing. With $15.05 billion in earnings and $69.7 billion in revenue, Google had a 21.5% profit margin, which indicates healthy profitability. The growth was not so impressive, but some slowdown was to be expected after the heady growth Google enjoyed in 2021.One highlight of the release was Google Cloud’s EBIT profitability. That was a first for the segment, and with the growth still strong, the contribution to the bottom line could be substantial.ValuationPrior to today’s release, Google's stock traded at the following multiples (according to Seeking Alpha Quant):P/E: 23.Price/sales: 4.87.Price/book: 5.3.Price/operating cash flow: 14.66.With Google’s first quarter release out, a few of these multiples have changed. For example, the $1.17 in earnings per share changes the P/E ratio to 24.4, which is slightly worse than it was before. Book value and revenue are both largely unchanged from the prior quarter. With the NASDAQ-100 today trading at 23.72 times earnings, it looks like Google is about fairly valued on a sector-relative basis.We can also look at Alphabet’s valuation from the perspective of discounted cash flows. Trailing 12 month free cash flow per share is currently $4.77, with the $1.34 just added this quarter plus $3.43 from the previous three quarters. Discounted at the 10 year Treasury yield (3.55%), that’s worth $134. If you discount it with a 3% risk premium, it’s worth $86.7. Both of these calculations assume 0% growth into perpetuity, if you take the average of them, it appears to point to Google being slightly undervalued ($110 fair value estimate). So, Google scores relatively well on the value factor compared to the rest of big tech.Looking AheadIn addition to releasing its earnings, Google also gave some clues as to what’s in store in the future. Among other things, it has indicated that it will:Integrate the Bard AI meaningfully into Google search, as Microsoft has done with Bing. The overall effect of this could be mixed. It may help Google shore up its competitive position, as ChatBots are thought to be a threat to search. However, it could also cause a $6 billion hit to EBIT according to Morgan Stanley (MS), as chatbots are more expensive to run than Google search currently is.Promote YouTube shorts. Short content has been a big phenomenon in video sharing sites lately, driven by the rapid rise of TikTok. Google is trying to get YouTube engagement up, so it’s likely to keep promoting shorts to get some of the user time that’s being spent on short form video.Continue growing the cloud segment. As Google’s first quarter release showed, the Cloud is by far the biggest growth driver for Google, growing at 29.6% year over year. Google isn’t going to want to let that growth decelerate, as there’s not much growth elsewhere in the business. So, continued investment in the cloud is likely.Overall, Google has some promising investments available to it right now. YouTube is the weak link at the moment, with negative revenue growth, but there has been real strength in the cloud, and Google Search market share is holding up well despite the progress Microsoft has made with Bing. Additionally, at some point in the next month, Google will begin to “lap” prior quarters in which the 2022 earnings decline had already begun, making them easier to grow from. On the whole, there are many reasons to be optimistic about the quarters ahead.Risks and ChallengesDespite having an overall positive view on Google stock, I think there are many risks and challenges that investors need to be aware of. Some of the most important include:Currency impacts. Currency impacts have been holding back Google’s revenue for many quarters now. The U.S. dollar is relatively strong compared to other global currencies at the moment–in particular the euro. With the U.S. dollar making gains, Google’s EU-sourced revenue is becoming less valuable after currency conversion, and that’s partially what’s causing Google’s revenue growth this year to be so underwhelming. If the U.S. dollar keeps making gains, then the reported revenue growth will be even slower, increasing the odds of Google disappointing investors. On the other hand, if the trend in the dollar reverses, it could be a tailwind for Google.Legal risk. Google is facing multiple different anti-trust investigations right now. Presently, it’s being sued by the U.S. Justice Department for abusing its market position. There are similar actions underway in Europe. These anti-trust lawsuits, when they are successful, can cost tech companies billions of dollars. For example, Google recently got sued for $4.12 billion in Europe, attempted to have the ruling turned over on appeal, but lost at the appellate court. It appears quite likely that Google will be forced to pay out that $4.12 billion.Diminishing market share. Earlier I mentioned that Google’s market share in Search was still strong. It is: it had 93.17% of the market worldwide. The market share breakdown currently looks good for Google, the problem is that the trends are not heading in its direction: Bing is ever so slightly making gains, having picked up some users with the launch of its AI Chatbot this year. This is not to say that Bing will continue making gains at the expense of Google; if the mass rollout of Bard is a success, then that probably won’t happen. However, Morgan Stanley estimates that including Bard in all Google searches will cost it $6 billion a year in EBIT, so GOOG faces a “stuck between a rock and a hard place” situation here.The Bottom LineThe bottom line about Google’s most recent earnings release is that it confirmed what investors have long believed about the company: that it is a high-moat enterprise whose stock is relatively inexpensive by the standards of its peer group. Google’s revenue growth is still positive, and its most recent earnings, while declining, are nevertheless declining by much less than they were previously. Still, Google stock remains cheaper than most of the other big tech giants. I’m content to keep holding Google stock for the time being.","news_type":1},"isVote":1,"tweetType":1,"viewCount":286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944775173,"gmtCreate":1682302674992,"gmtModify":1682302679971,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....","listText":"Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....","text":"Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944775173","repostId":"2329320400","repostType":4,"repost":{"id":"2329320400","pubTimestamp":1682124653,"share":"https://www.laohu8.com/m/news/2329320400?lang=&edition=full","pubTime":"2023-04-22 08:50","market":"us","language":"en","title":"Alphabet CEO’s Pay Soars to $226 Million on Massive Stock Award","url":"https://stock-news.laohu8.com/highlight/detail?id=2329320400","media":"Bloomberg","summary":"(Bloomberg) -- The pay package awarded to Alphabet Inc. Chief Executive Officer Sundar Pichai soared","content":"<html><head></head><body><p>(Bloomberg) -- The pay package awarded to Alphabet Inc. Chief Executive Officer Sundar Pichai soared to $226 million in 2022, boosted by a triennial stock award valued at $218 million, dwarfing the compensation of many Silicon Valley peers. </p><p>His pay compared with $6.3 million the prior year, when he didn’t receive the stock award, according to a filing from the Google parent company Friday. His salary has remained steady at $2 million the past three years.</p><p>The stock award comes on a three-year schedule, and Pichai received a similarly sized package in 2019. That year, he was awarded $281 million.</p><p>CEO compensation has become a particular touchy topic in the technology industry, especially after a wave of layoffs at Alphabet and other major companies. Apple Inc. CEO Tim Cook slashed his 2023 pay after drawing ire for making $100 million each of the past two years.</p><p>Pichai’s package put him well above other executives at Alphabet in 2022. Prabhakar Raghavan, the senior vice president of Google’s knowledge and information, and Philipp Schindler, chief business officer, both took in about $37 million. Chief Financial Officer Ruth Porat’s compensation was $24.5 million. Their stock grants are given out on an annual basis.</p><p>In January, Alphabet started cutting about 12,000 jobs, or 6% of its global workforce, following months of other measures to reduce spending and set new priorities. The median total compensation for Alphabet employees was $279,802 in 2022, according to the filing. Pichai’s compensation was 808 times that amount. </p><p style=\"text-align: start;\">As part of his compensation package, Alphabet spent $5.94 million on personal security for Pichai, according to the filing. </p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alphabet CEO’s Pay Soars to $226 Million on Massive Stock Award</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\">\nAlphabet CEO’s Pay Soars to $226 Million on Massive Stock Award\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-22 08:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alphabet-ceo-pay-soars-226-215127556.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- The pay package awarded to Alphabet Inc. Chief Executive Officer Sundar Pichai soared to $226 million in 2022, boosted by a triennial stock award valued at $218 million, dwarfing the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/alphabet-ceo-pay-soars-226-215127556.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","TSLA":"特斯拉","BK4573":"虚拟现实","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","GOOG":"谷歌","BK4511":"特斯拉概念","LU0238689110.USD":"贝莱德环球动力股票基金","BK4548":"巴美列捷福持仓","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0109391861.USD":"富兰克林美国机遇基金A Acc","BK4514":"搜索引擎","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0823411888.USD":"法巴消费创新基金 Cap","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0056508442.USD":"贝莱德世界科技基金A2","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4532":"文艺复兴科技持仓","LU0149725797.USD":"汇丰美国股市经济规模基金","BK4553":"喜马拉雅资本持仓","GOOGL":"谷歌A","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","BK4576":"AR","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0823414478.USD":"法巴经典能源转换基金","BK4574":"无人驾驶","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4503":"景林资产持仓","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4550":"红杉资本持仓","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","BK4588":"碎股","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU0861579265.USD":"联博低波幅策略股票基金A","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4551":"寇图资本持仓"},"source_url":"https://finance.yahoo.com/news/alphabet-ceo-pay-soars-226-215127556.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2329320400","content_text":"(Bloomberg) -- The pay package awarded to Alphabet Inc. Chief Executive Officer Sundar Pichai soared to $226 million in 2022, boosted by a triennial stock award valued at $218 million, dwarfing the compensation of many Silicon Valley peers. His pay compared with $6.3 million the prior year, when he didn’t receive the stock award, according to a filing from the Google parent company Friday. His salary has remained steady at $2 million the past three years.The stock award comes on a three-year schedule, and Pichai received a similarly sized package in 2019. That year, he was awarded $281 million.CEO compensation has become a particular touchy topic in the technology industry, especially after a wave of layoffs at Alphabet and other major companies. Apple Inc. CEO Tim Cook slashed his 2023 pay after drawing ire for making $100 million each of the past two years.Pichai’s package put him well above other executives at Alphabet in 2022. Prabhakar Raghavan, the senior vice president of Google’s knowledge and information, and Philipp Schindler, chief business officer, both took in about $37 million. Chief Financial Officer Ruth Porat’s compensation was $24.5 million. Their stock grants are given out on an annual basis.In January, Alphabet started cutting about 12,000 jobs, or 6% of its global workforce, following months of other measures to reduce spending and set new priorities. The median total compensation for Alphabet employees was $279,802 in 2022, according to the filing. Pichai’s compensation was 808 times that amount. As part of his compensation package, Alphabet spent $5.94 million on personal security for Pichai, according to the filing.","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944772719,"gmtCreate":1682302365731,"gmtModify":1682304425740,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Fed is in between a rock and a hard place","listText":"Fed is in between a rock and a hard place","text":"Fed is in between a rock and a hard place","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944772719","repostId":"1111405907","repostType":2,"repost":{"id":"1111405907","pubTimestamp":1682292585,"share":"https://www.laohu8.com/m/news/1111405907?lang=&edition=full","pubTime":"2023-04-24 07:29","market":"us","language":"en","title":"Musk Sees Parallels With The 1929 Crash And The Great Depression","url":"https://stock-news.laohu8.com/highlight/detail?id=1111405907","media":"Seeking Alpha","summary":"SummaryThe Fed is currently hiking into a recession, like in 1929.But the Fed also hiked during othe","content":"<html><head></head><body><h2 style=\"text-align: left;\">Summary</h2><ul><li><p>The Fed is currently hiking into a recession, like in 1929.</p></li><li><p>But the Fed also hiked during other recessions, like in 1974.</p></li><li><p>History shows that the Fed hikes if necessary, despite the economic and financial damage.</p></li><li><p>Given the current situation, the outlook for S&amp;P 500 is very bearish.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d1e4942b3fa514191bf65dc2a4b5a42f\" alt=\"\" title=\"\" tg-width=\"750\" tg-height=\"500\"/></p><h2>The Musk concerns:</h2><p>Elon Musk conducted an interview with Fox host Tucker Carlson that aired on April 19, and among other things discussed the current banking crisis, the Fed, and expressed his opinion on the economic outlook.</p><p>Musk pointed that one of the times the Fed hiked interest rates into a recession was in 1929, which was followed with the Great Depression. Here are the key excerpts:</p><blockquote>Tucker Carlson: What&#39;s your sense of the stability of the American banking system?Elon Musk: ...I think there is a serious danger with the global banking system. There&#39;s a strong argument that the - if you were to actually market the portfolios of the banks, the loans, and whatnot, that the entire banking industry would have negative equity....So we really haven&#39;t seen the commercial real estate shoe drop. That&#39;s more like an anvil, not a shoe. So the stuff we&#39;ve seen so far hasn&#39;t even actually hasn&#39;t even - it&#39;s only slightly real estate portfolio degradation. But that will become a very serious thing later this year, in my view... I think if we see, which we&#39;re likely to see, a drop in house prices, because the interest rates are too high.....And so if banks end up having loan losses in both their commercial and - well they&#39;re definitely going to have loan losses in their professional portfolio but also in their mortgage portfolio, this is a dire situation....There is a solution to mitigate the magnitude of the damage here, which is for the Fed to lower the rate. But they raised the rate again. Now, if I recall correctly, which I, you know, important caveat I think the last time the Fed raised rates going into a recession was 1929.Carlson: What happened then?Musk: Yeah, the Great Depression.</blockquote><p>Musk obviously does not think that the current banking crisis is finished. He&#39;s concerned that the banks (KRE) could start seeing the losses on their commercial real estate loan portfolios (due to high vacancies and higher interest rates). He&#39;s also concerned that higher interest rates could cause the housing prices to fall, which would increase the losses on the banks&#39; mortgage loan portfolios as well.</p><p>Musk thinks that he Fed should be decreasing the interest rates in this situation. More importantly, he seems concerned that the further increases in interest rates could lead to the major financial crisis like the Great Depression, referencing the Fed&#39;s &#34;error&#34; in 1929.</p><h2>What happened in 1929?</h2><p>The Fed did increase interest rate in 1929 right as the Great Depression started, from 5.25% to 6.50%. Here&#39;s the chart:</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edf09ae89b94f5d45c4dd8b5f5c4f6ff\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"292\"/></p><p>By most historical accounts, the Fed was concerned with the high stock market valuations and the excess speculation. The banks played the key role by participating in a very profitable virtuous cycle: 1) Extend the margin credit to buy stocks, 2) higher stock prices lead to more wealth, 3) more wealth leads to more consumption, 4) more consumption leads to more loans, 5) more loans lead to more profits, and thus, 6) extend more margin credit to buy stocks - the virtuous cycle continues. Apparently, the banks ignored the Fed&#39;s warning about the dangers of such activity, so the Fed was forced to hike into the recession.</p><p>At the end, the virtuous cycle turned into the vicious cycle of deflation, where higher interest rates busted the stock market bubble, which caused the default on consumer loans, and the bank runs, which lead to widespread bank failures, and ultimately the deflationary spiral.</p><h2>The Fed hiked during the recession in other episodes</h2><p>But the Fed also hiked during the recessions in 1974 and in 1980. Here&#39;s the chart of the Federal Funds rate and CPI inflation.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f8201942def7ef177121ffb9a3eb63f\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"322\"/></p><p>Generally, the Fed hikes before recession to address the inflationary pressures, and then pauses and cuts as the economic and financial damage becomes evident. This was the case of the 1970 recession, as shown in the chart above.</p><p><strong>The 1974 case</strong></p><p>In 1973, the Fed also started to cut before the recession started. However, during the 1974 recession, inflation started to increase, and thus, the Fed was forced to hike during the recession, despite the economic and financial damage.</p><p><strong>The 1980 case</strong></p><p>Similarly, the Fed was forced to aggressively hike during the 1980 recession, as inflation simply would not fall even as the recession started.</p><p><strong>The lesson</strong></p><p>During the 1970, the Fed was primarily concerned with inflation, and showed the willingness to hike interest rates even during the recessions to lower the inflation. Generally, during the inflationary recessions, the Fed is forced to hike well above the CPI inflation, despite the economic and financial damage.</p><h2>What about the current situation?</h2><p>The 1929 case was the deflationary recession case, where the key concern was the stock market bubble due to excess speculation. The 1974 and 1980 cases were the inflationary recession cases, where the major concern was high inflation.</p><p>The current situation combines both of these cases, it&#39;s an inflationary recession with the stock market bubble, which makes it potentially extremely dire.</p><p><strong>Stock market bubble</strong></p><p>First, the based on the Shiller PE ratio, S&amp;P500 (SP500) (SPX) (SPY) is as overvalued now as it was at the peak of the 1929 stock market bubble, with the Shiller PE ratio right below 30 in both cases.</p><p>During the 1970s the Shiller PE ratio was very low, down in the 10s, thus stocks were cheap, which limited the financial damage of the Fed&#39;s recessionary hikes. Here is Schiller PE ratio chart.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f55b136a46c564dd0568f03aaa2e1f17\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"292\"/></p><p><strong>High inflation</strong></p><p>Inflation was not a major problem in 1929. Now it is. The core CPI is still above the Federal Funds rate, above the 5% level. We&#39;re in midst of the inflationary shock caused by the labor shortage, attempted energy shocks, reshoring of supply chains, the real war which can affect the global food supply, all part of the unfolding trend of deglobalization.</p><p>So, the chart below resembles the 1974 episode. The Fed (red) is trying to catch up with inflation (blue), and inflation is falling. However, as soon as the Fed pauses or cuts, inflation is likely to turn back up (due top structural trends related to deglobalization), forcing more Fed hikes despite the likely recession.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f217bd2659419c0eab4e708fdeb576b\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"324\"/></p><h2>Implications</h2><p>The Fed is hiking into the recession, Musk is right. And the Fed will likely &#34;hold for longer&#34; despite the inevitable financial and economic damage as the recession takes hold. Why? Just like in 1974, we&#39;re in the midst of the inflationary shock, and if the Fed pauses prematurely, inflation could reaccelerate.</p><p>However, unlike the 1974, we&#39;re also in the stock market bubble, just like in 1929. Thus, the outlook for S&amp;P 500 is extremely bearish.</p><p>The only hope for the bulls is that the Fed would prematurely pause and pivot, and thus, allow the stock market bubble to reaccelerate by allowing higher inflation. Very unlikely. But we will get the first taste of this on May 3 - the next Fed meeting.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Musk Sees Parallels With The 1929 Crash And The Great Depression</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\">\nMusk Sees Parallels With The 1929 Crash And The Great Depression\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-24 07:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4595625-musk-sees-parallels-1929-great-depression><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThe Fed is currently hiking into a recession, like in 1929.But the Fed also hiked during other recessions, like in 1974.History shows that the Fed hikes if necessary, despite the economic and ...</p>\n\n<a href=\"https://seekingalpha.com/article/4595625-musk-sees-parallels-1929-great-depression\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4595625-musk-sees-parallels-1929-great-depression","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1111405907","content_text":"SummaryThe Fed is currently hiking into a recession, like in 1929.But the Fed also hiked during other recessions, like in 1974.History shows that the Fed hikes if necessary, despite the economic and financial damage.Given the current situation, the outlook for S&P 500 is very bearish.The Musk concerns:Elon Musk conducted an interview with Fox host Tucker Carlson that aired on April 19, and among other things discussed the current banking crisis, the Fed, and expressed his opinion on the economic outlook.Musk pointed that one of the times the Fed hiked interest rates into a recession was in 1929, which was followed with the Great Depression. Here are the key excerpts:Tucker Carlson: What's your sense of the stability of the American banking system?Elon Musk: ...I think there is a serious danger with the global banking system. There's a strong argument that the - if you were to actually market the portfolios of the banks, the loans, and whatnot, that the entire banking industry would have negative equity....So we really haven't seen the commercial real estate shoe drop. That's more like an anvil, not a shoe. So the stuff we've seen so far hasn't even actually hasn't even - it's only slightly real estate portfolio degradation. But that will become a very serious thing later this year, in my view... I think if we see, which we're likely to see, a drop in house prices, because the interest rates are too high.....And so if banks end up having loan losses in both their commercial and - well they're definitely going to have loan losses in their professional portfolio but also in their mortgage portfolio, this is a dire situation....There is a solution to mitigate the magnitude of the damage here, which is for the Fed to lower the rate. But they raised the rate again. Now, if I recall correctly, which I, you know, important caveat I think the last time the Fed raised rates going into a recession was 1929.Carlson: What happened then?Musk: Yeah, the Great Depression.Musk obviously does not think that the current banking crisis is finished. He's concerned that the banks (KRE) could start seeing the losses on their commercial real estate loan portfolios (due to high vacancies and higher interest rates). He's also concerned that higher interest rates could cause the housing prices to fall, which would increase the losses on the banks' mortgage loan portfolios as well.Musk thinks that he Fed should be decreasing the interest rates in this situation. More importantly, he seems concerned that the further increases in interest rates could lead to the major financial crisis like the Great Depression, referencing the Fed's \"error\" in 1929.What happened in 1929?The Fed did increase interest rate in 1929 right as the Great Depression started, from 5.25% to 6.50%. Here's the chart:By most historical accounts, the Fed was concerned with the high stock market valuations and the excess speculation. The banks played the key role by participating in a very profitable virtuous cycle: 1) Extend the margin credit to buy stocks, 2) higher stock prices lead to more wealth, 3) more wealth leads to more consumption, 4) more consumption leads to more loans, 5) more loans lead to more profits, and thus, 6) extend more margin credit to buy stocks - the virtuous cycle continues. Apparently, the banks ignored the Fed's warning about the dangers of such activity, so the Fed was forced to hike into the recession.At the end, the virtuous cycle turned into the vicious cycle of deflation, where higher interest rates busted the stock market bubble, which caused the default on consumer loans, and the bank runs, which lead to widespread bank failures, and ultimately the deflationary spiral.The Fed hiked during the recession in other episodesBut the Fed also hiked during the recessions in 1974 and in 1980. Here's the chart of the Federal Funds rate and CPI inflation.Generally, the Fed hikes before recession to address the inflationary pressures, and then pauses and cuts as the economic and financial damage becomes evident. This was the case of the 1970 recession, as shown in the chart above.The 1974 caseIn 1973, the Fed also started to cut before the recession started. However, during the 1974 recession, inflation started to increase, and thus, the Fed was forced to hike during the recession, despite the economic and financial damage.The 1980 caseSimilarly, the Fed was forced to aggressively hike during the 1980 recession, as inflation simply would not fall even as the recession started.The lessonDuring the 1970, the Fed was primarily concerned with inflation, and showed the willingness to hike interest rates even during the recessions to lower the inflation. Generally, during the inflationary recessions, the Fed is forced to hike well above the CPI inflation, despite the economic and financial damage.What about the current situation?The 1929 case was the deflationary recession case, where the key concern was the stock market bubble due to excess speculation. The 1974 and 1980 cases were the inflationary recession cases, where the major concern was high inflation.The current situation combines both of these cases, it's an inflationary recession with the stock market bubble, which makes it potentially extremely dire.Stock market bubbleFirst, the based on the Shiller PE ratio, S&P500 (SP500) (SPX) (SPY) is as overvalued now as it was at the peak of the 1929 stock market bubble, with the Shiller PE ratio right below 30 in both cases.During the 1970s the Shiller PE ratio was very low, down in the 10s, thus stocks were cheap, which limited the financial damage of the Fed's recessionary hikes. Here is Schiller PE ratio chart.High inflationInflation was not a major problem in 1929. Now it is. The core CPI is still above the Federal Funds rate, above the 5% level. We're in midst of the inflationary shock caused by the labor shortage, attempted energy shocks, reshoring of supply chains, the real war which can affect the global food supply, all part of the unfolding trend of deglobalization.So, the chart below resembles the 1974 episode. The Fed (red) is trying to catch up with inflation (blue), and inflation is falling. However, as soon as the Fed pauses or cuts, inflation is likely to turn back up (due top structural trends related to deglobalization), forcing more Fed hikes despite the likely recession.ImplicationsThe Fed is hiking into the recession, Musk is right. And the Fed will likely \"hold for longer\" despite the inevitable financial and economic damage as the recession takes hold. Why? Just like in 1974, we're in the midst of the inflationary shock, and if the Fed pauses prematurely, inflation could reaccelerate.However, unlike the 1974, we're also in the stock market bubble, just like in 1929. Thus, the outlook for S&P 500 is extremely bearish.The only hope for the bulls is that the Fed would prematurely pause and pivot, and thus, allow the stock market bubble to reaccelerate by allowing higher inflation. Very unlikely. But we will get the first taste of this on May 3 - the next Fed meeting.","news_type":1},"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944748412,"gmtCreate":1682266078737,"gmtModify":1682266084048,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Envelopes design could be converted to ang pow design for Netflix customers","listText":"Envelopes design could be converted to ang pow design for Netflix customers","text":"Envelopes design could be converted to ang pow design for Netflix customers","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944748412","repostId":"2329214540","repostType":2,"isVote":1,"tweetType":1,"viewCount":35,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944740200,"gmtCreate":1682254367500,"gmtModify":1682298863021,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Might as well play roulette&nbsp;","listText":"Might as well play roulette&nbsp;","text":"Might as well play roulette","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944740200","repostId":"2329008911","repostType":4,"repost":{"id":"2329008911","pubTimestamp":1682088000,"share":"https://www.laohu8.com/m/news/2329008911?lang=&edition=full","pubTime":"2023-04-21 22:40","market":"us","language":"en","title":"Day Traders Lose $358,000 Per Day Gambling on Zero-Day Options","url":"https://stock-news.laohu8.com/highlight/detail?id=2329008911","media":"Bloomberg","summary":"New study tallies retail’s misfortune during the trading boomResearchers warn about growing risk sho","content":"<html><head></head><body><ul><li><p>New study tallies retail’s misfortune during the trading boom</p></li><li><p>Researchers warn about growing risk should 0DTE broaden out</p></li></ul><p>Day traders are paying a price for their newfound love affair with one of the hottest trades in the equity market. </p><p>Rushing to join the trading frenzy in options with ultra-short lifespans, known as 0DTE for zero-days to expiration, small-time investors find themselves struggling to make it work. A fresh study from researchers at the University of Muenster in Germany shows the crowd may have lost $358,000 a day since May 2022, when it became possible to trade expiring contracts every day. </p><p>The record is alarming, but probably not a huge surprise. By one estimate, amateur investors took a billion-dollar bath dabbling in stock options during the pandemic boom. The new game of 0DTE is more challenging in many ways, among them the tight timeframe in which wagers need to work out. </p><p>The paper, titled Retail Traders Love 0DTE Options... But Should They?, is a reminder to investors and regulators alike that the latest investment innovations may not always be suitable for everyone. </p><p>“We are seeing the study as a cautionary tale,” Heiner Beckmeyer, who co-authored the study along with Nicole Branger and Leander Gayda, said in an interview. “These 0DTE options have huge leverage. They’re a one-or-zero bet, so you have the opportunity to make a lot of money, but you also have the opportunity to lose a lot. And that’s what we find in the paper that on average, it seems to be to the detriment of these retail investors.”</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3af0d64d4e37ada72f8b532dd95fa17\" alt=\"Source: “Retail Traders Love 0DTE Options... But Should They?” by Heiner Beckmeyer, Nicole Branger and Leander Gayda\" title=\"Source: “Retail Traders Love 0DTE Options... But Should They?” by Heiner Beckmeyer, Nicole Branger and Leander Gayda\" tg-width=\"1000\" tg-height=\"471\"/><span>Source: “Retail Traders Love 0DTE Options... But Should They?” by Heiner Beckmeyer, Nicole Branger and Leander Gayda</span></p><p>Zero-day options first garnered mainstream attention when retail investors embraced them as a cheap way of gambling during the meme-stock era in 2021. While the current craze involves indexes like the S&amp;P 500 and has been driven by professional traders, 0DTE’s high-risk, high-reward potential — and potentially quick payoff — appeals profoundly to amateurs too. </p><p>By the researchers’ estimate, the retail crowd’s market share in 0DTE trading volume has expanded, topping 6% in 2022 versus 4% in the prior year. Among all of the cohort’s trades in S&amp;P 500 options, such flashy contracts make up more than 75% of the total. </p><p>For all the engagement, however, the wagers largely failed to pay off. </p><p>While they did fairly well writing options, decisions to buy them suffered badly. All told, day traders lost $20 million as a result of poor positioning in about two years through February 2023. The bill climbed to more than $70 million when the cost of doing business with market makers was factored in. </p><p>To be sure, it’s not easy to make money in a new instrument that even Wall Street pros don’t seem to fully understand. To have an edge, one has to be extremely vigilant and nimble — and probably lucky. </p><p>A JPMorgan Chase &amp; Co. analysis showed that while buying or selling 0DTE options tended to be profitable in the first 10 minutes of trading, two-thirds of the gains came in the first minute. </p><p>In the study by the University of Muenster researchers, they tracked all 0DTE transactions that were identified as being initiated by retail, netted them out as orders came in, and tallied a return at the end of each day.  </p><p>They found the day-trader army has lost money on a net basis every month since Cboe Global Markets Inc. added Tuesday and Thursday expiration options for the S&amp;P 500, expanding existing products to cover each weekday.</p><p>“Their hunger for lottery-like assets leads to large aggregate losses,” the researchers wrote in the paper. “Should daily expirations be rolled out for single equity options, the potential losses retail investors face are amplified manifold.”</p><p>Cboe didn’t respond to a request for comment. </p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Day Traders Lose $358,000 Per Day Gambling on Zero-Day Options</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDay Traders Lose $358,000 Per Day Gambling on Zero-Day Options\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-21 22:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-04-21/day-traders-lose-358-000-per-day-gambling-on-zero-day-options?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New study tallies retail’s misfortune during the trading boomResearchers warn about growing risk should 0DTE broaden outDay traders are paying a price for their newfound love affair with one of the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-04-21/day-traders-lose-358-000-per-day-gambling-on-zero-day-options?srnd=premium\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4112":"金融交易所和数据",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","BK4585":"ETF&股票定投概念","BK4559":"巴菲特持仓","BK4534":"瑞士信贷持仓","CBOE":"芝加哥期权交易所","BK4588":"碎股","BK4581":"高盛持仓","BK4550":"红杉资本持仓","BK4504":"桥水持仓","BK4532":"文艺复兴科技持仓",".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2023-04-21/day-traders-lose-358-000-per-day-gambling-on-zero-day-options?srnd=premium","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2329008911","content_text":"New study tallies retail’s misfortune during the trading boomResearchers warn about growing risk should 0DTE broaden outDay traders are paying a price for their newfound love affair with one of the hottest trades in the equity market. Rushing to join the trading frenzy in options with ultra-short lifespans, known as 0DTE for zero-days to expiration, small-time investors find themselves struggling to make it work. A fresh study from researchers at the University of Muenster in Germany shows the crowd may have lost $358,000 a day since May 2022, when it became possible to trade expiring contracts every day. The record is alarming, but probably not a huge surprise. By one estimate, amateur investors took a billion-dollar bath dabbling in stock options during the pandemic boom. The new game of 0DTE is more challenging in many ways, among them the tight timeframe in which wagers need to work out. The paper, titled Retail Traders Love 0DTE Options... But Should They?, is a reminder to investors and regulators alike that the latest investment innovations may not always be suitable for everyone. “We are seeing the study as a cautionary tale,” Heiner Beckmeyer, who co-authored the study along with Nicole Branger and Leander Gayda, said in an interview. “These 0DTE options have huge leverage. They’re a one-or-zero bet, so you have the opportunity to make a lot of money, but you also have the opportunity to lose a lot. And that’s what we find in the paper that on average, it seems to be to the detriment of these retail investors.”Source: “Retail Traders Love 0DTE Options... But Should They?” by Heiner Beckmeyer, Nicole Branger and Leander GaydaZero-day options first garnered mainstream attention when retail investors embraced them as a cheap way of gambling during the meme-stock era in 2021. While the current craze involves indexes like the S&P 500 and has been driven by professional traders, 0DTE’s high-risk, high-reward potential — and potentially quick payoff — appeals profoundly to amateurs too. By the researchers’ estimate, the retail crowd’s market share in 0DTE trading volume has expanded, topping 6% in 2022 versus 4% in the prior year. Among all of the cohort’s trades in S&P 500 options, such flashy contracts make up more than 75% of the total. For all the engagement, however, the wagers largely failed to pay off. While they did fairly well writing options, decisions to buy them suffered badly. All told, day traders lost $20 million as a result of poor positioning in about two years through February 2023. The bill climbed to more than $70 million when the cost of doing business with market makers was factored in. To be sure, it’s not easy to make money in a new instrument that even Wall Street pros don’t seem to fully understand. To have an edge, one has to be extremely vigilant and nimble — and probably lucky. A JPMorgan Chase & Co. analysis showed that while buying or selling 0DTE options tended to be profitable in the first 10 minutes of trading, two-thirds of the gains came in the first minute. In the study by the University of Muenster researchers, they tracked all 0DTE transactions that were identified as being initiated by retail, netted them out as orders came in, and tallied a return at the end of each day.  They found the day-trader army has lost money on a net basis every month since Cboe Global Markets Inc. added Tuesday and Thursday expiration options for the S&P 500, expanding existing products to cover each weekday.“Their hunger for lottery-like assets leads to large aggregate losses,” the researchers wrote in the paper. “Should daily expirations be rolled out for single equity options, the potential losses retail investors face are amplified manifold.”Cboe didn’t respond to a request for comment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944740655,"gmtCreate":1682254278677,"gmtModify":1682254282777,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Keep interating.. They will get there","listText":"Keep interating.. They will get there","text":"Keep interating.. They will get there","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944740655","repostId":"2329408112","repostType":2,"repost":{"id":"2329408112","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1682119483,"share":"https://www.laohu8.com/m/news/2329408112?lang=&edition=full","pubTime":"2023-04-22 07:24","market":"us","language":"en","title":"After SpaceX's Starship Rocket Explosion -- Debris, Data and Analysis","url":"https://stock-news.laohu8.com/highlight/detail?id=2329408112","media":"Dow Jones","summary":"SpaceX on Friday is taking stock after the company's Starship rocket exploded a few minutes after li","content":"<html><head></head><body><p>SpaceX on Friday is taking stock after the company&#39;s Starship rocket exploded a few minutes after lifting off the day before in southern Texas.</p><p>So are several local officials, regulatory and environmental agencies.</p><p>Regulators said they were analyzing what the launch meant for nearby natural areas and public safety. Environmental groups and some local residents have raised concerns about the impact of SpaceX&#39;s activities on and around its base.</p><p>For SpaceX, the uncrewed test flight that flew about 24 miles into the sky crossed multiple key thresholds. The rocket made it through the period of flight where it experienced the most amount of stress. Simply blasting off the enormous vehicle was also a milestone, company officials said.</p><p>&#34;If we lift off and clear the pad, we&#39;re calling that a win,&#34; SpaceX engineer Kate Tice said on the company&#39;s live stream Thursday. Throngs of onlookers watched the launch from beaches and parks a few miles from the company&#39;s launchpad.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c53494c6669efafab8c1fe9fc0e9c6a5\" tg-width=\"700\" tg-height=\"467\"/></p><p>The test, years in the making, was among a number of steps needed before SpaceX can try to take people to the moon and eventually Mars as the company <a href=\"https://laohu8.com/S/AONE.U\">one</a> day hopes to do. SpaceX wants to demonstrate that Starship&#39;s Super Heavy booster can propel its large spacecraft into orbit, and safely land both vehicles for re-use.</p><p>Last year, the Federal Aviation Administration, which oversaw an environmental assessment of SpaceX&#39;s Starship plans, listed dozens of steps the company needed to take to mitigate the effects of Starship launches.</p><p>A SpaceX spokesman didn&#39;t respond to requests for comment.</p><p>A large plume shot up around the launchpad as the vehicle -- standing close to 400 feet tall, and loaded with 10 million pounds of fuel -- began to lift off Thursday morning. SpaceX has called Starship the most powerful rocket ever built.</p><p>A video SpaceX later posted of the launch appeared to show material being shot into the Gulf of Mexico during the initial few moments of the launch. Splashes were visible in the water. The rocket exploded about four minutes after lift off.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09abccfe3fdc24c2e07a2265202ec67c\" tg-width=\"990\" tg-height=\"923\"/></p><p>For the launch, a keep-out zone was established to ensure people weren&#39;t in close proximity to the operation. SpaceX&#39;s launchpad and the Starship production facilities are located on and near a beach along the Gulf of Mexico, about 20 miles east of Brownsville, Texas, a town of about 188,000.</p><p>Part of the highway leading to the site and beach that hosts the company&#39;s launchpad is expected to remain closed until 3 p.m. ET Friday for safety reasons during cleanup efforts, according to the top official of Cameron <a href=\"https://laohu8.com/S/ICBK\">County</a>.</p><p>Both were supposed to reopen at 3 p.m. ET on Thursday if Starship&#39;s flight had proceeded as planned. Cameron County posted information on its website about how residents could contact SpaceX if they believed they found debris.</p><p>Conditions on the ground at and near the launch site couldn&#39;t immediately be determined.</p><p>SpaceX provided the U.S. Coast Guard with data about what happened, and the agency determined there wasn&#39;t any debris in waterways that could pose hazards, a Coast Guard spokeswoman said Thursday evening.</p><p>The FAA, which is overseeing an investigation into what happened during the test flight, has to determine that what led to the mishap doesn&#39;t pose a public safety threat before SpaceX can attempt another flight, according to an agency spokesman.</p><p>No injuries or damage to public property had been reported as of Thursday afternoon, according to the FAA.</p><p>Staff from the U.S. Fish and Wildlife <a href=\"https://laohu8.com/S/SCI\">Service</a>, which oversees land near the company&#39;s Starship facilities, are assessing impacts from the launch, a spokeswoman said Friday.</p><p>SpaceX, which wants to operate an intensive flight-testing campaign for Starship, doesn&#39;t expect to try to fly again for at least a few months, according to Elon Musk&#39;s comments on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> after the explosion.</p><p>A top concern for Mr. Musk, SpaceX&#39;s founder and chief executive, was how the launchpad would stand up to Starship&#39;s dozens of powerful engines firing all at once to get the massive vehicle off the ground. Some former space employees and industry officials pointed to a photograph of the pad area that circulated online that appeared to show damage to it.</p><p>Former SpaceX employees have said the company encourages risk taking, so long as safety isn&#39;t compromised, and SpaceX engineers are skilled at using data gleaned from explosions or problems to improve.</p><p>SpaceX&#39;s approach to testing Starship has differed from the company&#39;s approach years ago when it was developing its smaller Falcon 9 rocket, a partially reusable vehicle that has emerged as the company&#39;s workhorse. Falcon 9 is being used in missions for commercial satellite operators, NASA and other customers.</p><p>When it was developing Falcon 9, SpaceX conducted what are called full-duration tests on the ground. For those, the vehicle&#39;s booster would be loaded up with propellant and the staff would fire the engines until the fuel was spent, just like during a flight, according to people familiar with the tests.</p><p>Space Exploration Technologies Corp., as SpaceX is called formally, didn&#39;t attempt such a full-duration test of the Super Heavy booster and its engines before Thursday&#39;s launch. The company has conducted other ground tests of the engines for the booster. In February, for example, the company completed a shorter, so-called static-fire test of them.</p><p>Mr. Musk said 31 out of the 33 engines on the booster worked then. SpaceX said in a statement after Thursday&#39;s flight that some engines went out during the mission.</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>After SpaceX's Starship Rocket Explosion -- Debris, Data and Analysis</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\">\nAfter SpaceX's Starship Rocket Explosion -- Debris, Data and Analysis\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/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-04-22 07:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>SpaceX on Friday is taking stock after the company&#39;s Starship rocket exploded a few minutes after lifting off the day before in southern Texas.</p><p>So are several local officials, regulatory and environmental agencies.</p><p>Regulators said they were analyzing what the launch meant for nearby natural areas and public safety. Environmental groups and some local residents have raised concerns about the impact of SpaceX&#39;s activities on and around its base.</p><p>For SpaceX, the uncrewed test flight that flew about 24 miles into the sky crossed multiple key thresholds. The rocket made it through the period of flight where it experienced the most amount of stress. Simply blasting off the enormous vehicle was also a milestone, company officials said.</p><p>&#34;If we lift off and clear the pad, we&#39;re calling that a win,&#34; SpaceX engineer Kate Tice said on the company&#39;s live stream Thursday. Throngs of onlookers watched the launch from beaches and parks a few miles from the company&#39;s launchpad.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c53494c6669efafab8c1fe9fc0e9c6a5\" tg-width=\"700\" tg-height=\"467\"/></p><p>The test, years in the making, was among a number of steps needed before SpaceX can try to take people to the moon and eventually Mars as the company <a href=\"https://laohu8.com/S/AONE.U\">one</a> day hopes to do. SpaceX wants to demonstrate that Starship&#39;s Super Heavy booster can propel its large spacecraft into orbit, and safely land both vehicles for re-use.</p><p>Last year, the Federal Aviation Administration, which oversaw an environmental assessment of SpaceX&#39;s Starship plans, listed dozens of steps the company needed to take to mitigate the effects of Starship launches.</p><p>A SpaceX spokesman didn&#39;t respond to requests for comment.</p><p>A large plume shot up around the launchpad as the vehicle -- standing close to 400 feet tall, and loaded with 10 million pounds of fuel -- began to lift off Thursday morning. SpaceX has called Starship the most powerful rocket ever built.</p><p>A video SpaceX later posted of the launch appeared to show material being shot into the Gulf of Mexico during the initial few moments of the launch. Splashes were visible in the water. The rocket exploded about four minutes after lift off.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09abccfe3fdc24c2e07a2265202ec67c\" tg-width=\"990\" tg-height=\"923\"/></p><p>For the launch, a keep-out zone was established to ensure people weren&#39;t in close proximity to the operation. SpaceX&#39;s launchpad and the Starship production facilities are located on and near a beach along the Gulf of Mexico, about 20 miles east of Brownsville, Texas, a town of about 188,000.</p><p>Part of the highway leading to the site and beach that hosts the company&#39;s launchpad is expected to remain closed until 3 p.m. ET Friday for safety reasons during cleanup efforts, according to the top official of Cameron <a href=\"https://laohu8.com/S/ICBK\">County</a>.</p><p>Both were supposed to reopen at 3 p.m. ET on Thursday if Starship&#39;s flight had proceeded as planned. Cameron County posted information on its website about how residents could contact SpaceX if they believed they found debris.</p><p>Conditions on the ground at and near the launch site couldn&#39;t immediately be determined.</p><p>SpaceX provided the U.S. Coast Guard with data about what happened, and the agency determined there wasn&#39;t any debris in waterways that could pose hazards, a Coast Guard spokeswoman said Thursday evening.</p><p>The FAA, which is overseeing an investigation into what happened during the test flight, has to determine that what led to the mishap doesn&#39;t pose a public safety threat before SpaceX can attempt another flight, according to an agency spokesman.</p><p>No injuries or damage to public property had been reported as of Thursday afternoon, according to the FAA.</p><p>Staff from the U.S. Fish and Wildlife <a href=\"https://laohu8.com/S/SCI\">Service</a>, which oversees land near the company&#39;s Starship facilities, are assessing impacts from the launch, a spokeswoman said Friday.</p><p>SpaceX, which wants to operate an intensive flight-testing campaign for Starship, doesn&#39;t expect to try to fly again for at least a few months, according to Elon Musk&#39;s comments on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> after the explosion.</p><p>A top concern for Mr. Musk, SpaceX&#39;s founder and chief executive, was how the launchpad would stand up to Starship&#39;s dozens of powerful engines firing all at once to get the massive vehicle off the ground. Some former space employees and industry officials pointed to a photograph of the pad area that circulated online that appeared to show damage to it.</p><p>Former SpaceX employees have said the company encourages risk taking, so long as safety isn&#39;t compromised, and SpaceX engineers are skilled at using data gleaned from explosions or problems to improve.</p><p>SpaceX&#39;s approach to testing Starship has differed from the company&#39;s approach years ago when it was developing its smaller Falcon 9 rocket, a partially reusable vehicle that has emerged as the company&#39;s workhorse. Falcon 9 is being used in missions for commercial satellite operators, NASA and other customers.</p><p>When it was developing Falcon 9, SpaceX conducted what are called full-duration tests on the ground. For those, the vehicle&#39;s booster would be loaded up with propellant and the staff would fire the engines until the fuel was spent, just like during a flight, according to people familiar with the tests.</p><p>Space Exploration Technologies Corp., as SpaceX is called formally, didn&#39;t attempt such a full-duration test of the Super Heavy booster and its engines before Thursday&#39;s launch. The company has conducted other ground tests of the engines for the booster. In February, for example, the company completed a shorter, so-called static-fire test of them.</p><p>Mr. Musk said 31 out of the 33 engines on the booster worked then. SpaceX said in a statement after Thursday&#39;s flight that some engines went out during the mission.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU0097036916.USD":"贝莱德美国增长A2 USD","TSLA":"特斯拉","LU0234572021.USD":"高盛美国核心股票组合Acc","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4585":"ETF&股票定投概念","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4534":"瑞士信贷持仓","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","LU1548497426.USD":"安联环球人工智能AT Acc","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4527":"明星科技股","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4588":"碎股","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4550":"红杉资本持仓","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0823411888.USD":"法巴消费创新基金 Cap","BK4551":"寇图资本持仓","BK4574":"无人驾驶","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4581":"高盛持仓","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4099":"汽车制造商","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","BK4511":"特斯拉概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4548":"巴美列捷福持仓","LU2063271972.USD":"富兰克林创新领域基金"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2329408112","content_text":"SpaceX on Friday is taking stock after the company's Starship rocket exploded a few minutes after lifting off the day before in southern Texas.So are several local officials, regulatory and environmental agencies.Regulators said they were analyzing what the launch meant for nearby natural areas and public safety. Environmental groups and some local residents have raised concerns about the impact of SpaceX's activities on and around its base.For SpaceX, the uncrewed test flight that flew about 24 miles into the sky crossed multiple key thresholds. The rocket made it through the period of flight where it experienced the most amount of stress. Simply blasting off the enormous vehicle was also a milestone, company officials said.\"If we lift off and clear the pad, we're calling that a win,\" SpaceX engineer Kate Tice said on the company's live stream Thursday. Throngs of onlookers watched the launch from beaches and parks a few miles from the company's launchpad.The test, years in the making, was among a number of steps needed before SpaceX can try to take people to the moon and eventually Mars as the company one day hopes to do. SpaceX wants to demonstrate that Starship's Super Heavy booster can propel its large spacecraft into orbit, and safely land both vehicles for re-use.Last year, the Federal Aviation Administration, which oversaw an environmental assessment of SpaceX's Starship plans, listed dozens of steps the company needed to take to mitigate the effects of Starship launches.A SpaceX spokesman didn't respond to requests for comment.A large plume shot up around the launchpad as the vehicle -- standing close to 400 feet tall, and loaded with 10 million pounds of fuel -- began to lift off Thursday morning. SpaceX has called Starship the most powerful rocket ever built.A video SpaceX later posted of the launch appeared to show material being shot into the Gulf of Mexico during the initial few moments of the launch. Splashes were visible in the water. The rocket exploded about four minutes after lift off.For the launch, a keep-out zone was established to ensure people weren't in close proximity to the operation. SpaceX's launchpad and the Starship production facilities are located on and near a beach along the Gulf of Mexico, about 20 miles east of Brownsville, Texas, a town of about 188,000.Part of the highway leading to the site and beach that hosts the company's launchpad is expected to remain closed until 3 p.m. ET Friday for safety reasons during cleanup efforts, according to the top official of Cameron County.Both were supposed to reopen at 3 p.m. ET on Thursday if Starship's flight had proceeded as planned. Cameron County posted information on its website about how residents could contact SpaceX if they believed they found debris.Conditions on the ground at and near the launch site couldn't immediately be determined.SpaceX provided the U.S. Coast Guard with data about what happened, and the agency determined there wasn't any debris in waterways that could pose hazards, a Coast Guard spokeswoman said Thursday evening.The FAA, which is overseeing an investigation into what happened during the test flight, has to determine that what led to the mishap doesn't pose a public safety threat before SpaceX can attempt another flight, according to an agency spokesman.No injuries or damage to public property had been reported as of Thursday afternoon, according to the FAA.Staff from the U.S. Fish and Wildlife Service, which oversees land near the company's Starship facilities, are assessing impacts from the launch, a spokeswoman said Friday.SpaceX, which wants to operate an intensive flight-testing campaign for Starship, doesn't expect to try to fly again for at least a few months, according to Elon Musk's comments on Twitter after the explosion.A top concern for Mr. Musk, SpaceX's founder and chief executive, was how the launchpad would stand up to Starship's dozens of powerful engines firing all at once to get the massive vehicle off the ground. Some former space employees and industry officials pointed to a photograph of the pad area that circulated online that appeared to show damage to it.Former SpaceX employees have said the company encourages risk taking, so long as safety isn't compromised, and SpaceX engineers are skilled at using data gleaned from explosions or problems to improve.SpaceX's approach to testing Starship has differed from the company's approach years ago when it was developing its smaller Falcon 9 rocket, a partially reusable vehicle that has emerged as the company's workhorse. Falcon 9 is being used in missions for commercial satellite operators, NASA and other customers.When it was developing Falcon 9, SpaceX conducted what are called full-duration tests on the ground. For those, the vehicle's booster would be loaded up with propellant and the staff would fire the engines until the fuel was spent, just like during a flight, according to people familiar with the tests.Space Exploration Technologies Corp., as SpaceX is called formally, didn't attempt such a full-duration test of the Super Heavy booster and its engines before Thursday's launch. The company has conducted other ground tests of the engines for the booster. In February, for example, the company completed a shorter, so-called static-fire test of them.Mr. Musk said 31 out of the 33 engines on the booster worked then. SpaceX said in a statement after Thursday's flight that some engines went out during the mission.","news_type":1},"isVote":1,"tweetType":1,"viewCount":27,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944740803,"gmtCreate":1682254171702,"gmtModify":1682254175963,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","listText":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","text":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944740803","repostId":"2328127653","repostType":2,"repost":{"id":"2328127653","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1682214554,"share":"https://www.laohu8.com/m/news/2328127653?lang=&edition=full","pubTime":"2023-04-23 09:49","market":"us","language":"en","title":"The Battle for the Future of the Car Is On. Tech Is a Weapon","url":"https://stock-news.laohu8.com/highlight/detail?id=2328127653","media":"Dow Jones","summary":"Never mind ChatGPT. The next big computing platform has already arrived -- and it's sitting in your ","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a44d87dd9a6937cf6eedef3e262cc7\" tg-width=\"1260\" tg-height=\"840\"/></p><p>Never mind ChatGPT. The next big computing platform has already arrived -- and it&#39;s sitting in your driveway.</p><p>The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.</p><p>This isn&#39;t to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on &#34;software-defined vehicles&#34; today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.</p><p>As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.</p><p>&#34;There are now more lines of code in the average car than there are in a Boeing 747,&#34; says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.</p><p>The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> Google increasingly control the entertainment and navigation experience.</p><p>&#34;They aren&#39;t just selling a car,&#34; Vachani says of the auto makers. &#34;They can own a customer experience for years, and they need to monetize that. It&#39;s almost a matter of survival for them.&#34;</p><p>Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors <a href=\"https://laohu8.com/S/GM\">$(GM)$</a> said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple&#39;s CarPlay or Google&#39;s Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.</p><p>&#34;We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,&#34; GM said.</p><p>Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker&#39;s mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company&#39;s autonomous-driving platform. Other auto makers are following a similar path.</p><p>The industry&#39;s push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. &#34;It&#39;s a must-have feature when shopping for a new vehicle,&#34; Emily Schubert, Apple&#39;s senior manager for car-experience engineering said at June&#39;s Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.</p><p>During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone&#39;s territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.</p><p>Apple name-checked numerous auto makers -- Ford Motor <a href=\"https://laohu8.com/S/F\">$(F)$</a>, Honda Motor <a href=\"https://laohu8.com/S/HMC\">$(HMC)$</a>, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year&#39;s WWDC, coming up in early June.</p><p>Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that&#39;s licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.</p><p>For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.</p><p>&#34;The auto makers want to retain their brands,&#34; says Danny Shapiro, Nvidia&#39;s vice president of automotive. &#34;They want to differentiate. And there will be a lot of revenue from transactions.&#34;</p><p>&#34;When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,&#34; adds Nakul Duggal, Qualcomm&#39;s senior vice president for automotive. &#34;Auto makers need to understand what customers like or don&#39;t like. If you lose that primary interface, that&#39;s a big challenge.&#34;</p><p>The good news for investors is they don&#39;t have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.</p><p>Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company&#39;s push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company&#39;s system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.</p><p>Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a> is taking a similar approach with its vision to be the provider of the &#34;digital chassis,&#34; taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.</p><p>Memory-chip maker Micron Technology <a href=\"https://laohu8.com/S/MU\">$(MU)$</a> has said that the automotive industry offers the company&#39;s best long-term growth opportunity.</p><p>And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.</p><p>Arm&#39;s Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. &#34;Consumers want their cars to provide the look and feel they experience on their mobile phone,&#34; she says. &#34;That&#39;s an experience we understand.&#34; Arm&#39;s designs power iPhone chips, servers, and other computing gear.</p><p>Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.</p><p>Ambarella <a href=\"https://laohu8.com/S/AMBA\">$(AMBA)$</a>, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai&#39;s Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.</p><p>Samsung&#39;s Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman&#39;s president of automotive, says that electrification of the powertrain is &#34;not that differentiating,&#34; putting pressure on the companies to find other ways to stand out.</p><p>Harman offers a heads-up display called &#34;Ready Vision&#34; that projects relevant driving data onto the windshield, so that it&#39;s in the driver&#39;s field of vision. &#34;Ready Care&#34; is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.</p><p>Even BlackBerry <a href=\"https://laohu8.com/S/BB\">$(BB)$</a>, once a dominant player in mobile phones, has refocused on security and automotive software. The company&#39;s IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association&#39;s CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers&#39; EV &#34;range anxiety.&#34;</p><p>Technology, of course, isn&#39;t new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, &#34;electronic control units,&#34; or ECUs.</p><p>Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.</p><p>&#34;Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,&#34; says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. &#34;Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.&#34;</p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p> Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”</p><p style=\"text-align: left;\">As cars add more code and connectivity, consumers will be pressured to pick up the tab.</p><p style=\"text-align: left;\">There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.</p><p style=\"text-align: left;\">Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. </p><p style=\"text-align: left;\">Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”</p><p style=\"text-align: left;\">Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”</p><p style=\"text-align: left;\">General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. </p><p style=\"text-align: left;\">GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.</p><p style=\"text-align: left;\">Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).</p><p style=\"text-align: left;\">BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.</p><p style=\"text-align: left;\">The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Battle for the Future of the Car Is On. Tech Is a Weapon</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 Battle for the Future of the Car Is On. Tech Is a Weapon\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/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-04-23 09:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a44d87dd9a6937cf6eedef3e262cc7\" tg-width=\"1260\" tg-height=\"840\"/></p><p>Never mind ChatGPT. The next big computing platform has already arrived -- and it&#39;s sitting in your driveway.</p><p>The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.</p><p>This isn&#39;t to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on &#34;software-defined vehicles&#34; today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.</p><p>As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.</p><p>&#34;There are now more lines of code in the average car than there are in a Boeing 747,&#34; says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.</p><p>The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> Google increasingly control the entertainment and navigation experience.</p><p>&#34;They aren&#39;t just selling a car,&#34; Vachani says of the auto makers. &#34;They can own a customer experience for years, and they need to monetize that. It&#39;s almost a matter of survival for them.&#34;</p><p>Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors <a href=\"https://laohu8.com/S/GM\">$(GM)$</a> said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple&#39;s CarPlay or Google&#39;s Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.</p><p>&#34;We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,&#34; GM said.</p><p>Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker&#39;s mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company&#39;s autonomous-driving platform. Other auto makers are following a similar path.</p><p>The industry&#39;s push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. &#34;It&#39;s a must-have feature when shopping for a new vehicle,&#34; Emily Schubert, Apple&#39;s senior manager for car-experience engineering said at June&#39;s Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.</p><p>During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone&#39;s territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.</p><p>Apple name-checked numerous auto makers -- Ford Motor <a href=\"https://laohu8.com/S/F\">$(F)$</a>, Honda Motor <a href=\"https://laohu8.com/S/HMC\">$(HMC)$</a>, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year&#39;s WWDC, coming up in early June.</p><p>Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that&#39;s licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.</p><p>For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.</p><p>&#34;The auto makers want to retain their brands,&#34; says Danny Shapiro, Nvidia&#39;s vice president of automotive. &#34;They want to differentiate. And there will be a lot of revenue from transactions.&#34;</p><p>&#34;When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,&#34; adds Nakul Duggal, Qualcomm&#39;s senior vice president for automotive. &#34;Auto makers need to understand what customers like or don&#39;t like. If you lose that primary interface, that&#39;s a big challenge.&#34;</p><p>The good news for investors is they don&#39;t have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.</p><p>Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company&#39;s push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company&#39;s system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.</p><p>Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a> is taking a similar approach with its vision to be the provider of the &#34;digital chassis,&#34; taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.</p><p>Memory-chip maker Micron Technology <a href=\"https://laohu8.com/S/MU\">$(MU)$</a> has said that the automotive industry offers the company&#39;s best long-term growth opportunity.</p><p>And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.</p><p>Arm&#39;s Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. &#34;Consumers want their cars to provide the look and feel they experience on their mobile phone,&#34; she says. &#34;That&#39;s an experience we understand.&#34; Arm&#39;s designs power iPhone chips, servers, and other computing gear.</p><p>Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.</p><p>Ambarella <a href=\"https://laohu8.com/S/AMBA\">$(AMBA)$</a>, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai&#39;s Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.</p><p>Samsung&#39;s Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman&#39;s president of automotive, says that electrification of the powertrain is &#34;not that differentiating,&#34; putting pressure on the companies to find other ways to stand out.</p><p>Harman offers a heads-up display called &#34;Ready Vision&#34; that projects relevant driving data onto the windshield, so that it&#39;s in the driver&#39;s field of vision. &#34;Ready Care&#34; is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.</p><p>Even BlackBerry <a href=\"https://laohu8.com/S/BB\">$(BB)$</a>, once a dominant player in mobile phones, has refocused on security and automotive software. The company&#39;s IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association&#39;s CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers&#39; EV &#34;range anxiety.&#34;</p><p>Technology, of course, isn&#39;t new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, &#34;electronic control units,&#34; or ECUs.</p><p>Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.</p><p>&#34;Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,&#34; says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. &#34;Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.&#34;</p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p> Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”</p><p style=\"text-align: left;\">As cars add more code and connectivity, consumers will be pressured to pick up the tab.</p><p style=\"text-align: left;\">There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.</p><p style=\"text-align: left;\">Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. </p><p style=\"text-align: left;\">Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”</p><p style=\"text-align: left;\">Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”</p><p style=\"text-align: left;\">General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. </p><p style=\"text-align: left;\">GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.</p><p style=\"text-align: left;\">Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).</p><p style=\"text-align: left;\">BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.</p><p style=\"text-align: left;\">The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4507":"流媒体概念","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BK4585":"ETF&股票定投概念","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4576":"AR","BK4555":"新能源车","BK4525":"远程办公概念","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0823414478.USD":"法巴经典能源转换基金","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","AAPL":"苹果","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4543":"AI","BK4559":"巴菲特持仓","BK4527":"明星科技股","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","QCOM":"高通","TSLA":"特斯拉","GOOG":"谷歌","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","BK4561":"索罗斯持仓","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","BK4547":"WSB热门概念","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","BK4571":"数字音乐概念","LU0823411888.USD":"法巴消费创新基金 Cap","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4532":"文艺复兴科技持仓","LU0056508442.USD":"贝莱德世界科技基金A2","BK4554":"元宇宙及AR概念","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4567":"ESG概念"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2328127653","content_text":"Never mind ChatGPT. The next big computing platform has already arrived -- and it's sitting in your driveway.The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.This isn't to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on \"software-defined vehicles\" today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.\"There are now more lines of code in the average car than there are in a Boeing 747,\" says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet's $(GOOGL)$ Google increasingly control the entertainment and navigation experience.\"They aren't just selling a car,\" Vachani says of the auto makers. \"They can own a customer experience for years, and they need to monetize that. It's almost a matter of survival for them.\"Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors $(GM)$ said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple's CarPlay or Google's Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.\"We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,\" GM said.Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker's mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company's autonomous-driving platform. Other auto makers are following a similar path.The industry's push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. \"It's a must-have feature when shopping for a new vehicle,\" Emily Schubert, Apple's senior manager for car-experience engineering said at June's Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone's territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.Apple name-checked numerous auto makers -- Ford Motor $(F)$, Honda Motor $(HMC)$, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year's WWDC, coming up in early June.Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that's licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.\"The auto makers want to retain their brands,\" says Danny Shapiro, Nvidia's vice president of automotive. \"They want to differentiate. And there will be a lot of revenue from transactions.\"\"When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,\" adds Nakul Duggal, Qualcomm's senior vice president for automotive. \"Auto makers need to understand what customers like or don't like. If you lose that primary interface, that's a big challenge.\"The good news for investors is they don't have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.Nvidia $(NVDA)$ is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company's push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company's system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.Qualcomm $(QCOM)$ is taking a similar approach with its vision to be the provider of the \"digital chassis,\" taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.Memory-chip maker Micron Technology $(MU)$ has said that the automotive industry offers the company's best long-term growth opportunity.And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.Arm's Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. \"Consumers want their cars to provide the look and feel they experience on their mobile phone,\" she says. \"That's an experience we understand.\" Arm's designs power iPhone chips, servers, and other computing gear.Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.Ambarella $(AMBA)$, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai's Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.Samsung's Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman's president of automotive, says that electrification of the powertrain is \"not that differentiating,\" putting pressure on the companies to find other ways to stand out.Harman offers a heads-up display called \"Ready Vision\" that projects relevant driving data onto the windshield, so that it's in the driver's field of vision. \"Ready Care\" is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.Even BlackBerry $(BB)$, once a dominant player in mobile phones, has refocused on security and automotive software. The company's IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association's CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers' EV \"range anxiety.\"Technology, of course, isn't new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, \"electronic control units,\" or ECUs.Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.\"Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,\" says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. \"Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.\"The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade.  Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”As cars add more code and connectivity, consumers will be pressured to pick up the tab.There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.","news_type":1},"isVote":1,"tweetType":1,"viewCount":22,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944722115,"gmtCreate":1682213376938,"gmtModify":1682213381335,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Never a dull moment with Musk","listText":"Never a dull moment with Musk","text":"Never a dull moment with Musk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":21,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944722115","repostId":"2329066914","repostType":2,"repost":{"id":"2329066914","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1682212245,"share":"https://www.laohu8.com/m/news/2329066914?lang=&edition=full","pubTime":"2023-04-23 09:10","market":"us","language":"en","title":"In 24 Hours, Elon Musk Reignited His Reputation for Risk","url":"https://stock-news.laohu8.com/highlight/detail?id=2329066914","media":"Dow Jones","summary":"In the span of 24 hours this past week, Elon Musk made three very big bets with three very different","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c549eba039eaa3fcbcda1dfdce6bd27\" tg-width=\"2000\" tg-height=\"1025\"/></p><p>In the span of 24 hours this past week, Elon Musk made three very big bets with three very different companies, together showing his penchant to plow ahead despite sizable risks.</p><p>Between Wednesday and Thursday evenings, he stripped celebrities, journalists and other high-profile users of their free, legacy verification on Twitter, risking a VIP revolt on the social-media platform. He promised that the electric-car maker Tesla Inc. would chase sales volume at the expense of profitability. And he launched SpaceX&#39;s first of its kind giant space rocket, which exploded on the way to the heavens.</p><p>In an era when risk management is a standard part of C-suite calculations, Mr. Musk has made his career and fortune tolerating the kinds of bets that would strike panic in many corporate soldiers.</p><p>Yet these new gambles come as the 51-year-old billionaire enters the stage of his entrepreneurial career when big stumbles could end up overshadowing previous triumphs and undoing what he has built.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/99a06a49ec3a7a1e6c1d149036fb8f37\" tg-width=\"700\" tg-height=\"386\"/></p><p>Today&#39;s SpaceX, his rocket company, and Tesla, the electric-car maker, grew out of near misses dating back roughly 20 years. Mr. Musk has said many times he initially gave those ventures each a 10% chance of success.</p><p>He put his personal fortune into them anyway. In doing so, he weathered failed rocket launches and avoided close calls with bankruptcies. When things have looked most bleak, he has been quick to course-adjust, saying he would rather make the wrong choice than no decision, all while trying to pick up a winning momentum.</p><p>&#34;If the odds are probably in your favor, you should make as many decisions as possible within the bounds of what is executable,&#34; Mr. Musk said a few years ago. &#34;This is like being the house in Vegas. Probability is the most powerful force in the universe, which is why the house always wins. Be the house.&#34;</p><p>In 2018, for example, when Tesla&#39;s cash was running low and car production was slowed because of a mistake in overautomating his factory, Mr. Musk greenlighted an unprecedented idea to build cars under a tent outside the factory so the company could move faster in remaking its assembly line and churn out the vehicles needed to generate needed revenue. Within the year, Tesla was printing a quarterly profit.</p><p>His contrarian takes aren&#39;t always smooth.</p><p>Six months into his control of Twitter, Mr. Musk is still finding his way as he tries to remake the social-media company into something much bigger.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/202014d8f8284800770679bd3c98f3c2\" tg-width=\"700\" tg-height=\"466\"/></p><p>One part of his plan is to generate more revenue from subscriptions, opening up Twitter&#39;s so-called blue check marks to anyone willing to pay and requiring legacy designees to pony up to keep their verifications -- a move that was enforced Thursday when many users began reporting the loss of their status.</p><p>The move has pitted him against the Twitterati as he has upended the platform&#39;s social hierarchy. It has placed him on the receiving end of complaints from sports heroes, Hollywood stars and others armed with a tweet button.</p><p>Mr. Musk has described the move as democratizing the platform, but it risks alienating power tweeters who have helped make the site interesting to a broader audience. It remains to be seen whether he will end up with more revenue from the gambit, or lose users.</p><p>&#34;If most OG blue checks stop tweeting in protest of being asked to pay to create the content that Twitter lives by...Twitter dies,&#34; Nathan Hubbard, a former Twitter executive, warned last month.</p><p>At Tesla, the results of Mr. Musk&#39;s recent bet to cut prices to increase demand came into focus when the company reported first-quarter results Wednesday that showed a drop in profit of 24%.</p><p>In the midst of concern from investors, he was undeterred, doubling down on a conference call with analysts.</p><p>Mr. Musk told them he would be chasing more sales at the expense of profitability in the belief that he can eventually profit more from a large fleet of already-sold cars by eventually activating driverless technology that will generate revenue from software updates.</p><p>&#34;Tesla is in a uniquely strong strategic position because we&#39;re the only ones making cars that technically we could sell for zero profit for now and then yield actually tremendous economics in the future through autonomy,&#34; he said.</p><p>The strategy is one that runs counter to the tactic most other car companies have taken in recent years of putting a priority on profits over chasing sales crowns. And so far, Tesla hasn&#39;t demonstrated a fully autonomous vehicle to the world, though Mr. Musk has promised for several years it is near completion.</p><p>&#34;While possible, it is unclear to us that Tesla is uniquely...poised to capture the self-driving opportunity any time soon and whether its existing fleet will even be able to run&#34; fully self-driving technology, Toni Sacconaghi, an analyst at Bernstein, told investors in a note.</p><p>The risks of launching a rocket into space couldn&#39;t have been more clear than on Thursday morning, when his SpaceX Starship exploded into flames. But for him it was a good day.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7fa1b7631f82689f581733d6168c9bce\" tg-width=\"700\" tg-height=\"466\"/></p><p>Founded in 2002, the company formally known as Space Exploration Technologies Corp. is built on failures that engineers learned from to improve future, reusable rockets. Its first three rockets exploded, nearly sinking the company in its infancy. SpaceX eventually found success with the Falcon 9, which it used on 60 launches last year. The rocket has become crucial to the U.S. space program.</p><p>The latest effort was going to be risky, Mr. Musk had already warned. A possible explosion might damage the company&#39;s South Texas launchpad, potentially delaying future launches. Success, the company said, would be measured by what it learned to help advance the giant rocket, which is essential to Mr. Musk&#39;s quest to take people to Mars and crucial to SpaceX&#39;s business of shuttling heavy cargo to outer space.</p><p>&#34;My top hope is please, may fate smile upon us, and we clear the launchpad before anything goes wrong. That&#39;s all I&#39;m asking,&#34; Mr. Musk said in the days leading up to the launch.</p><p>When it came time Thursday, Starship managed to do just that, making it 24 miles into the sky before it exploded in what SpaceX called a &#34;rapid unscheduled disassembly.&#34;</p><p>Among the accolades that poured in after the launch, Anand Mahindra, the chairman of the Mahindra Group conglomerate, said Mr. Musk&#39;s most important contribution to business would be &#34;his powerful attitude to risk.&#34;</p><p>&#34;Most would be terminally daunted by such a &#39;failure,&#39;&#34; Mr. Mahindra said on Twitter. &#34;But when you set up each initiative as a learning experiment (and of course, have raised the resources to do so!) you essentially extend the frontiers of knowledge &amp; progress.&#34;</p><p>In the seconds after the explosion, a SpaceX video camera caught Mr. Musk as he sat quietly in his command center, where, for the briefest of moments, he flashed a sly grin.</p><p>Hours later, he tweeted, &#34;Such a great day in so many ways.&#34;</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>In 24 Hours, Elon Musk Reignited His Reputation for Risk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIn 24 Hours, Elon Musk Reignited His Reputation for Risk\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/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-04-23 09:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c549eba039eaa3fcbcda1dfdce6bd27\" tg-width=\"2000\" tg-height=\"1025\"/></p><p>In the span of 24 hours this past week, Elon Musk made three very big bets with three very different companies, together showing his penchant to plow ahead despite sizable risks.</p><p>Between Wednesday and Thursday evenings, he stripped celebrities, journalists and other high-profile users of their free, legacy verification on Twitter, risking a VIP revolt on the social-media platform. He promised that the electric-car maker Tesla Inc. would chase sales volume at the expense of profitability. And he launched SpaceX&#39;s first of its kind giant space rocket, which exploded on the way to the heavens.</p><p>In an era when risk management is a standard part of C-suite calculations, Mr. Musk has made his career and fortune tolerating the kinds of bets that would strike panic in many corporate soldiers.</p><p>Yet these new gambles come as the 51-year-old billionaire enters the stage of his entrepreneurial career when big stumbles could end up overshadowing previous triumphs and undoing what he has built.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/99a06a49ec3a7a1e6c1d149036fb8f37\" tg-width=\"700\" tg-height=\"386\"/></p><p>Today&#39;s SpaceX, his rocket company, and Tesla, the electric-car maker, grew out of near misses dating back roughly 20 years. Mr. Musk has said many times he initially gave those ventures each a 10% chance of success.</p><p>He put his personal fortune into them anyway. In doing so, he weathered failed rocket launches and avoided close calls with bankruptcies. When things have looked most bleak, he has been quick to course-adjust, saying he would rather make the wrong choice than no decision, all while trying to pick up a winning momentum.</p><p>&#34;If the odds are probably in your favor, you should make as many decisions as possible within the bounds of what is executable,&#34; Mr. Musk said a few years ago. &#34;This is like being the house in Vegas. Probability is the most powerful force in the universe, which is why the house always wins. Be the house.&#34;</p><p>In 2018, for example, when Tesla&#39;s cash was running low and car production was slowed because of a mistake in overautomating his factory, Mr. Musk greenlighted an unprecedented idea to build cars under a tent outside the factory so the company could move faster in remaking its assembly line and churn out the vehicles needed to generate needed revenue. Within the year, Tesla was printing a quarterly profit.</p><p>His contrarian takes aren&#39;t always smooth.</p><p>Six months into his control of Twitter, Mr. Musk is still finding his way as he tries to remake the social-media company into something much bigger.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/202014d8f8284800770679bd3c98f3c2\" tg-width=\"700\" tg-height=\"466\"/></p><p>One part of his plan is to generate more revenue from subscriptions, opening up Twitter&#39;s so-called blue check marks to anyone willing to pay and requiring legacy designees to pony up to keep their verifications -- a move that was enforced Thursday when many users began reporting the loss of their status.</p><p>The move has pitted him against the Twitterati as he has upended the platform&#39;s social hierarchy. It has placed him on the receiving end of complaints from sports heroes, Hollywood stars and others armed with a tweet button.</p><p>Mr. Musk has described the move as democratizing the platform, but it risks alienating power tweeters who have helped make the site interesting to a broader audience. It remains to be seen whether he will end up with more revenue from the gambit, or lose users.</p><p>&#34;If most OG blue checks stop tweeting in protest of being asked to pay to create the content that Twitter lives by...Twitter dies,&#34; Nathan Hubbard, a former Twitter executive, warned last month.</p><p>At Tesla, the results of Mr. Musk&#39;s recent bet to cut prices to increase demand came into focus when the company reported first-quarter results Wednesday that showed a drop in profit of 24%.</p><p>In the midst of concern from investors, he was undeterred, doubling down on a conference call with analysts.</p><p>Mr. Musk told them he would be chasing more sales at the expense of profitability in the belief that he can eventually profit more from a large fleet of already-sold cars by eventually activating driverless technology that will generate revenue from software updates.</p><p>&#34;Tesla is in a uniquely strong strategic position because we&#39;re the only ones making cars that technically we could sell for zero profit for now and then yield actually tremendous economics in the future through autonomy,&#34; he said.</p><p>The strategy is one that runs counter to the tactic most other car companies have taken in recent years of putting a priority on profits over chasing sales crowns. And so far, Tesla hasn&#39;t demonstrated a fully autonomous vehicle to the world, though Mr. Musk has promised for several years it is near completion.</p><p>&#34;While possible, it is unclear to us that Tesla is uniquely...poised to capture the self-driving opportunity any time soon and whether its existing fleet will even be able to run&#34; fully self-driving technology, Toni Sacconaghi, an analyst at Bernstein, told investors in a note.</p><p>The risks of launching a rocket into space couldn&#39;t have been more clear than on Thursday morning, when his SpaceX Starship exploded into flames. But for him it was a good day.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7fa1b7631f82689f581733d6168c9bce\" tg-width=\"700\" tg-height=\"466\"/></p><p>Founded in 2002, the company formally known as Space Exploration Technologies Corp. is built on failures that engineers learned from to improve future, reusable rockets. Its first three rockets exploded, nearly sinking the company in its infancy. SpaceX eventually found success with the Falcon 9, which it used on 60 launches last year. The rocket has become crucial to the U.S. space program.</p><p>The latest effort was going to be risky, Mr. Musk had already warned. A possible explosion might damage the company&#39;s South Texas launchpad, potentially delaying future launches. Success, the company said, would be measured by what it learned to help advance the giant rocket, which is essential to Mr. Musk&#39;s quest to take people to Mars and crucial to SpaceX&#39;s business of shuttling heavy cargo to outer space.</p><p>&#34;My top hope is please, may fate smile upon us, and we clear the launchpad before anything goes wrong. That&#39;s all I&#39;m asking,&#34; Mr. Musk said in the days leading up to the launch.</p><p>When it came time Thursday, Starship managed to do just that, making it 24 miles into the sky before it exploded in what SpaceX called a &#34;rapid unscheduled disassembly.&#34;</p><p>Among the accolades that poured in after the launch, Anand Mahindra, the chairman of the Mahindra Group conglomerate, said Mr. Musk&#39;s most important contribution to business would be &#34;his powerful attitude to risk.&#34;</p><p>&#34;Most would be terminally daunted by such a &#39;failure,&#39;&#34; Mr. Mahindra said on Twitter. &#34;But when you set up each initiative as a learning experiment (and of course, have raised the resources to do so!) you essentially extend the frontiers of knowledge &amp; progress.&#34;</p><p>In the seconds after the explosion, a SpaceX video camera caught Mr. Musk as he sat quietly in his command center, where, for the briefest of moments, he flashed a sly grin.</p><p>Hours later, he tweeted, &#34;Such a great day in so many ways.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","BK4585":"ETF&股票定投概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4534":"瑞士信贷持仓","LU2063271972.USD":"富兰克林创新领域基金","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0823414478.USD":"法巴经典能源转换基金","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4508":"社交媒体","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4527":"明星科技股","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4077":"互动媒体与服务","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4550":"红杉资本持仓","BK4588":"碎股","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4551":"寇图资本持仓","BK4574":"无人驾驶","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4581":"高盛持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4099":"汽车制造商","BK4511":"特斯拉概念","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4548":"巴美列捷福持仓","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0823411888.USD":"法巴消费创新基金 Cap","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","TSLA":"特斯拉","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2329066914","content_text":"In the span of 24 hours this past week, Elon Musk made three very big bets with three very different companies, together showing his penchant to plow ahead despite sizable risks.Between Wednesday and Thursday evenings, he stripped celebrities, journalists and other high-profile users of their free, legacy verification on Twitter, risking a VIP revolt on the social-media platform. He promised that the electric-car maker Tesla Inc. would chase sales volume at the expense of profitability. And he launched SpaceX's first of its kind giant space rocket, which exploded on the way to the heavens.In an era when risk management is a standard part of C-suite calculations, Mr. Musk has made his career and fortune tolerating the kinds of bets that would strike panic in many corporate soldiers.Yet these new gambles come as the 51-year-old billionaire enters the stage of his entrepreneurial career when big stumbles could end up overshadowing previous triumphs and undoing what he has built.Today's SpaceX, his rocket company, and Tesla, the electric-car maker, grew out of near misses dating back roughly 20 years. Mr. Musk has said many times he initially gave those ventures each a 10% chance of success.He put his personal fortune into them anyway. In doing so, he weathered failed rocket launches and avoided close calls with bankruptcies. When things have looked most bleak, he has been quick to course-adjust, saying he would rather make the wrong choice than no decision, all while trying to pick up a winning momentum.\"If the odds are probably in your favor, you should make as many decisions as possible within the bounds of what is executable,\" Mr. Musk said a few years ago. \"This is like being the house in Vegas. Probability is the most powerful force in the universe, which is why the house always wins. Be the house.\"In 2018, for example, when Tesla's cash was running low and car production was slowed because of a mistake in overautomating his factory, Mr. Musk greenlighted an unprecedented idea to build cars under a tent outside the factory so the company could move faster in remaking its assembly line and churn out the vehicles needed to generate needed revenue. Within the year, Tesla was printing a quarterly profit.His contrarian takes aren't always smooth.Six months into his control of Twitter, Mr. Musk is still finding his way as he tries to remake the social-media company into something much bigger.One part of his plan is to generate more revenue from subscriptions, opening up Twitter's so-called blue check marks to anyone willing to pay and requiring legacy designees to pony up to keep their verifications -- a move that was enforced Thursday when many users began reporting the loss of their status.The move has pitted him against the Twitterati as he has upended the platform's social hierarchy. It has placed him on the receiving end of complaints from sports heroes, Hollywood stars and others armed with a tweet button.Mr. Musk has described the move as democratizing the platform, but it risks alienating power tweeters who have helped make the site interesting to a broader audience. It remains to be seen whether he will end up with more revenue from the gambit, or lose users.\"If most OG blue checks stop tweeting in protest of being asked to pay to create the content that Twitter lives by...Twitter dies,\" Nathan Hubbard, a former Twitter executive, warned last month.At Tesla, the results of Mr. Musk's recent bet to cut prices to increase demand came into focus when the company reported first-quarter results Wednesday that showed a drop in profit of 24%.In the midst of concern from investors, he was undeterred, doubling down on a conference call with analysts.Mr. Musk told them he would be chasing more sales at the expense of profitability in the belief that he can eventually profit more from a large fleet of already-sold cars by eventually activating driverless technology that will generate revenue from software updates.\"Tesla is in a uniquely strong strategic position because we're the only ones making cars that technically we could sell for zero profit for now and then yield actually tremendous economics in the future through autonomy,\" he said.The strategy is one that runs counter to the tactic most other car companies have taken in recent years of putting a priority on profits over chasing sales crowns. And so far, Tesla hasn't demonstrated a fully autonomous vehicle to the world, though Mr. Musk has promised for several years it is near completion.\"While possible, it is unclear to us that Tesla is uniquely...poised to capture the self-driving opportunity any time soon and whether its existing fleet will even be able to run\" fully self-driving technology, Toni Sacconaghi, an analyst at Bernstein, told investors in a note.The risks of launching a rocket into space couldn't have been more clear than on Thursday morning, when his SpaceX Starship exploded into flames. But for him it was a good day.Founded in 2002, the company formally known as Space Exploration Technologies Corp. is built on failures that engineers learned from to improve future, reusable rockets. Its first three rockets exploded, nearly sinking the company in its infancy. SpaceX eventually found success with the Falcon 9, which it used on 60 launches last year. The rocket has become crucial to the U.S. space program.The latest effort was going to be risky, Mr. Musk had already warned. A possible explosion might damage the company's South Texas launchpad, potentially delaying future launches. Success, the company said, would be measured by what it learned to help advance the giant rocket, which is essential to Mr. Musk's quest to take people to Mars and crucial to SpaceX's business of shuttling heavy cargo to outer space.\"My top hope is please, may fate smile upon us, and we clear the launchpad before anything goes wrong. That's all I'm asking,\" Mr. Musk said in the days leading up to the launch.When it came time Thursday, Starship managed to do just that, making it 24 miles into the sky before it exploded in what SpaceX called a \"rapid unscheduled disassembly.\"Among the accolades that poured in after the launch, Anand Mahindra, the chairman of the Mahindra Group conglomerate, said Mr. Musk's most important contribution to business would be \"his powerful attitude to risk.\"\"Most would be terminally daunted by such a 'failure,'\" Mr. Mahindra said on Twitter. \"But when you set up each initiative as a learning experiment (and of course, have raised the resources to do so!) you essentially extend the frontiers of knowledge & progress.\"In the seconds after the explosion, a SpaceX video camera caught Mr. Musk as he sat quietly in his command center, where, for the briefest of moments, he flashed a sly grin.Hours later, he tweeted, \"Such a great day in so many ways.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944453407,"gmtCreate":1682048360210,"gmtModify":1682048363978,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Tractor supply company is interesting, not generally mentioned","listText":"Tractor supply company is interesting, not generally mentioned","text":"Tractor supply company is interesting, not generally mentioned","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944453407","repostId":"1168323116","repostType":2,"repost":{"id":"1168323116","pubTimestamp":1682041070,"share":"https://www.laohu8.com/m/news/1168323116?lang=&edition=full","pubTime":"2023-04-21 09:37","market":"us","language":"en","title":"4 U.S. Growth Stocks Whose Share Prices Can Continue Climbing","url":"https://stock-news.laohu8.com/highlight/detail?id=1168323116","media":"The Smart Investor","summary":"Growth stocks had been badly hammered last year as the pandemic receded and interest rates surged.It didn’t help that many technology companies also announced layoffs in a tacit admission that they ha","content":"<html><head></head><body><p>Growth stocks had been badly hammered last year as the pandemic receded and <u>interest rates</u> surged.</p><p style=\"text-align: start;\">It didn’t help that many technology companies also announced <u>layoffs</u> in a tacit admission that they had been too exuberant over their prospects.</p><p style=\"text-align: start;\">However, I will argue that several companies still have what it takes to deliver growth amid these challenging conditions.</p><p style=\"text-align: start;\">Investors need to latch on to businesses with strong franchises and possess dominant market positions within their respective sectors.</p><p style=\"text-align: start;\">These attributes, along with quality management, will make the stock a sure-fire winner.</p><p style=\"text-align: start;\">We feature four US growth stocks with lots of fuel in their tank to enable their earnings to continue increasing.</p><p style=\"text-align: start;\">And when the business does well, we are confident that its stock price will naturally follow.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/META\">Meta Platforms</a></h2><p style=\"text-align: start;\">Meta Platforms is a social media giant with products such as the chat program WhatsApp, the video and photo-sharing platform Instagram, and the social media app Facebook.</p><p style=\"text-align: start;\">The company reported a downbeat set of earnings for 2022.</p><p style=\"text-align: start;\">Revenue dipped 1% year on year to US$116.6 billion while operating profit slid 38% year on year to US$28.9 billion.</p><p style=\"text-align: start;\">Net profit plunged 41% year on year to US$23.2 billion.</p><p style=\"text-align: start;\">There’s a silver lining, though.</p><p style=\"text-align: start;\">CEO Mark Zuckerberg has deemed 2023 as the Meta Platforms’ “Year of Efficiency” and vowed to take cost-cutting measures to make the company a “stronger and nimbler organisation”.</p><p style=\"text-align: start;\">The social media giant has made good on its promise, with more jobs expected to be axed this week after a first round of layoffs announced in March which will see 10,000 jobs eliminated.</p><p style=\"text-align: start;\">Meanwhile, Meta Platforms is also pursuing growth in the field of generative artificial intelligence (AI) to use it to create ads for different companies by the end of 2023.</p><p style=\"text-align: start;\">At the same time, the company is also opening its Horizon Worlds metaverse to teenagers in the US and Canada in the coming weeks as part of a trial to retain more users within the space.</p><p style=\"text-align: start;\">If all goes well, the company’s metaverse ambitions can continue while the business right-sizes itself to prepare for ad growth this year.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/NFLX\">Netflix</a></h2><p style=\"text-align: start;\">Netflix offers streaming TV services and is one of the largest players in its industry.</p><p style=\"text-align: start;\">The company is off to a slow start for the first quarter of 2023 (1Q 2023), with revenue growing 3.7% year on year to US$8.2 billion.</p><p style=\"text-align: start;\">Operating margin rebounded strongly to 21%, up from the previous quarter’s 7%, but was down from 1Q 2022’s operating margin of 25.7%.</p><p style=\"text-align: start;\">Consequently, net profit fell by 18.3% year on year to US$1.3 billion.</p><p style=\"text-align: start;\">Investors have reason to cheer, though.</p><p style=\"text-align: start;\">Paid memberships continued to rise to a new record of 232.5 million, up 4.9% year on year, adding another 1.75 million members to Netflix’s database.</p><p style=\"text-align: start;\">Management expects roughly the same paid additions for 2Q 2023 and then a jump in 3Q as new member enhancement initiatives along with paid sharing kick in.</p><p style=\"text-align: start;\">Netflix also quoted figures from Nielsen that showed it had a market share of 2% to 4% in markets such as Brazil, Mexico and Poland, suggesting that it has plenty of opportunity to capture more market share.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/ADBE\">Adobe</a></h2><p style=\"text-align: start;\">Adobe is a multimedia and software company that offers several software-as-a-service (SaaS) products delivered via cloud computing.</p><p style=\"text-align: start;\">The company’s offerings include Creative Cloud, Document Cloud and Experience Cloud which deliver a range of services including digital signatures, image libraries, and customer relationship management.</p><p style=\"text-align: start;\">Adobe announced record revenue for its 1Q 2023 ending 3 March 2023.</p><p style=\"text-align: start;\">Revenue hit US$4.66 billion, up 9% year on year, while net profit dipped slightly by 1.5% year on year to US$1.25 billion.</p><p style=\"text-align: start;\">The company also generated a free cash flow of US$1.59 billion for the quarter.</p><p style=\"text-align: start;\">Adobe projects that its earnings per share for fiscal 2023 (FY2023) will rise by 8.9% year on year to end at US$11.</p><p style=\"text-align: start;\">The company should also enjoy a long-term earnings boost from its US$20 billion acquisition of Figma back in September last year.</p><p style=\"text-align: start;\">That is, if the acquisition is approved by authorities. </p><p style=\"text-align: start;\">Although the transaction will lower earnings per share in the first two years after closing, management expects Figma to break even in year three and be profitable from then onwards.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/TSCO\">Tractor Supply Company</a></h2><p style=\"text-align: start;\">Tractor Supply Company is one of the largest rural lifestyle retailers in the US.</p><p style=\"text-align: start;\">The company operated 2,066 Tractor Supply stores in 49 states as of 31 December 2022 and 186 Petsense stores in 23 states.</p><p style=\"text-align: start;\">The rural lifestyle specialist reported a strong set of results for 2022, with revenue increasing 11.6% year on year to US$14.2 billion.</p><p style=\"text-align: start;\">Net profit increased by 9.2% year on year to US$1.09 billion, and a total of US$3.68 in dividends per share was paid out, a sharp increase from the US$2.08 paid out a year ago.</p><p style=\"text-align: start;\">The company’s Neighbors Club loyalty program has seen membership rise to 28 million, up 47% in the past two years.</p><p style=\"text-align: start;\">Tractor Supply projects that revenue can hit between US$15 billion to US$15.3 billion for 2023, and that the company can enjoy comparable store sales of positive 3.5% to 5.5%.</p></body></html>","source":"lsy1602567310727","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 U.S. Growth Stocks Whose Share Prices Can Continue Climbing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 U.S. Growth Stocks Whose Share Prices Can Continue Climbing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-21 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/4-us-growth-stocks-whose-share-prices-can-continue-climbing/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Growth stocks had been badly hammered last year as the pandemic receded and interest rates surged.It didn’t help that many technology companies also announced layoffs in a tacit admission that they ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/4-us-growth-stocks-whose-share-prices-can-continue-climbing/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"META":"Meta Platforms","NFLX":"奈飞","TSCO":"拖拉机供应公司","ADBE":"Adobe"},"source_url":"https://thesmartinvestor.com.sg/4-us-growth-stocks-whose-share-prices-can-continue-climbing/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168323116","content_text":"Growth stocks had been badly hammered last year as the pandemic receded and interest rates surged.It didn’t help that many technology companies also announced layoffs in a tacit admission that they had been too exuberant over their prospects.However, I will argue that several companies still have what it takes to deliver growth amid these challenging conditions.Investors need to latch on to businesses with strong franchises and possess dominant market positions within their respective sectors.These attributes, along with quality management, will make the stock a sure-fire winner.We feature four US growth stocks with lots of fuel in their tank to enable their earnings to continue increasing.And when the business does well, we are confident that its stock price will naturally follow.Meta PlatformsMeta Platforms is a social media giant with products such as the chat program WhatsApp, the video and photo-sharing platform Instagram, and the social media app Facebook.The company reported a downbeat set of earnings for 2022.Revenue dipped 1% year on year to US$116.6 billion while operating profit slid 38% year on year to US$28.9 billion.Net profit plunged 41% year on year to US$23.2 billion.There’s a silver lining, though.CEO Mark Zuckerberg has deemed 2023 as the Meta Platforms’ “Year of Efficiency” and vowed to take cost-cutting measures to make the company a “stronger and nimbler organisation”.The social media giant has made good on its promise, with more jobs expected to be axed this week after a first round of layoffs announced in March which will see 10,000 jobs eliminated.Meanwhile, Meta Platforms is also pursuing growth in the field of generative artificial intelligence (AI) to use it to create ads for different companies by the end of 2023.At the same time, the company is also opening its Horizon Worlds metaverse to teenagers in the US and Canada in the coming weeks as part of a trial to retain more users within the space.If all goes well, the company’s metaverse ambitions can continue while the business right-sizes itself to prepare for ad growth this year.NetflixNetflix offers streaming TV services and is one of the largest players in its industry.The company is off to a slow start for the first quarter of 2023 (1Q 2023), with revenue growing 3.7% year on year to US$8.2 billion.Operating margin rebounded strongly to 21%, up from the previous quarter’s 7%, but was down from 1Q 2022’s operating margin of 25.7%.Consequently, net profit fell by 18.3% year on year to US$1.3 billion.Investors have reason to cheer, though.Paid memberships continued to rise to a new record of 232.5 million, up 4.9% year on year, adding another 1.75 million members to Netflix’s database.Management expects roughly the same paid additions for 2Q 2023 and then a jump in 3Q as new member enhancement initiatives along with paid sharing kick in.Netflix also quoted figures from Nielsen that showed it had a market share of 2% to 4% in markets such as Brazil, Mexico and Poland, suggesting that it has plenty of opportunity to capture more market share.AdobeAdobe is a multimedia and software company that offers several software-as-a-service (SaaS) products delivered via cloud computing.The company’s offerings include Creative Cloud, Document Cloud and Experience Cloud which deliver a range of services including digital signatures, image libraries, and customer relationship management.Adobe announced record revenue for its 1Q 2023 ending 3 March 2023.Revenue hit US$4.66 billion, up 9% year on year, while net profit dipped slightly by 1.5% year on year to US$1.25 billion.The company also generated a free cash flow of US$1.59 billion for the quarter.Adobe projects that its earnings per share for fiscal 2023 (FY2023) will rise by 8.9% year on year to end at US$11.The company should also enjoy a long-term earnings boost from its US$20 billion acquisition of Figma back in September last year.That is, if the acquisition is approved by authorities. Although the transaction will lower earnings per share in the first two years after closing, management expects Figma to break even in year three and be profitable from then onwards.Tractor Supply CompanyTractor Supply Company is one of the largest rural lifestyle retailers in the US.The company operated 2,066 Tractor Supply stores in 49 states as of 31 December 2022 and 186 Petsense stores in 23 states.The rural lifestyle specialist reported a strong set of results for 2022, with revenue increasing 11.6% year on year to US$14.2 billion.Net profit increased by 9.2% year on year to US$1.09 billion, and a total of US$3.68 in dividends per share was paid out, a sharp increase from the US$2.08 paid out a year ago.The company’s Neighbors Club loyalty program has seen membership rise to 28 million, up 47% in the past two years.Tractor Supply projects that revenue can hit between US$15 billion to US$15.3 billion for 2023, and that the company can enjoy comparable store sales of positive 3.5% to 5.5%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944634256,"gmtCreate":1681822678675,"gmtModify":1681822682613,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Maybe 420 is Elon's lucky charm","listText":"Maybe 420 is Elon's lucky charm","text":"Maybe 420 is Elon's lucky charm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944634256","repostId":"2328938234","repostType":4,"repost":{"id":"2328938234","pubTimestamp":1681785096,"share":"https://www.laohu8.com/m/news/2328938234?lang=&edition=full","pubTime":"2023-04-18 10:31","market":"us","language":"en","title":"SpaceX Plans Starship Launch April 20 in Second Lift-Off Try","url":"https://stock-news.laohu8.com/highlight/detail?id=2328938234","media":"Bloomberg","summary":"SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for t","content":"<html><head></head><body><p>SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for the groundbreaking flight after a pressurization issue upended the company’s initial test.</p><p>Elon Musk’s closely held company announced the new date in a tweet on Monday, hours after postponing a planned inaugural test flight for the fully assembled vehicle. Minutes before scheduled liftoff on Monday, SpaceX scrubbed the flight, citing a “pressurization issue.” Officials had said they would need at least 48 hours before trying again. </p><p>Musk had flagged a “frozen” pressure valve as an issue that might delay the launch in a tweet earlier in the day. But SpaceX made no reference to the issue in a statement about the new target date for sending Starship aloft. </p><p>The new launch window will open at 8:28 a.m. local time in Boca Chica, Texas, where its launch pad is located, and closes one hour and two minutes later, SpaceX said. </p><p>The uncrewed mission is a critical step in SpaceX’s plan to send humans into deep space. The company, formally known as Space Exploration Technologies Corp., aims to send the massive rocket in a partial orbit of Earth for the first time, paving the way for later missions to the moon and Mars.</p><p>Delays — whether because of weather, technical issues or something else — are common in space launches.</p><p>The latest postponement adds to a timeline that has already been almost two decades in the making: As early as 2005, Musk alluded to plans for a giant rocket codenamed “BFR.” More recently, the company has been testing components of the rocket system in preparation for this launch, its first attempt to reach space.</p><p>Musk’s ‘420’ History</p><p>The timing of the second attempt on April 20 appears to be a coincidence, although Musk is no stranger to the number “420,” which is associated with marijuana. He famously once claimed to have “funding secured” to take Tesla Inc. private at $420 a share. Earlier this year testifying in a lawsuit stemming from that claim, Musk said “there is some karma around 420,” prompting laughter in the courtroom.</p><p>Musk serves as chief executive officer for both SpaceX and Tesla. </p><p>Starship was conceived to bring people — including NASA astronauts — and cargo such as satellites into Earth’s orbit and beyond. The rocket is more powerful than any previous crewed spacecraft and taller than the Saturn V. The launch vehicle system also has been designed to be fully reusable, which SpaceX promises will reduce costs. </p><p>When the launch attempt happens, the Super Heavy booster rocket is expected to break away from Starship after an initial climb to space and do a controlled dive into the Gulf of Mexico. If everything goes as planned, the Starship spacecraft will continue onward and arc through space completing almost a full lap around the Earth. It will then land in the Pacific Ocean off the coast of Hawaii.</p><p>Musk tried on Sunday to temper expectations, citing a number of ways that things could go wrong, including comparing the engines to live grenades. On a Twitter audio livestream, the billionaire entrepreneur said he had one overriding goal for the attempt: “Just don’t blow up the launchpad.”</p></body></html>","source":"yahoofinance_sg","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>SpaceX Plans Starship Launch April 20 in Second Lift-Off Try</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\">\nSpaceX Plans Starship Launch April 20 in Second Lift-Off Try\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-18 10:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/spacex-plans-starship-launch-april-235032502.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for the groundbreaking flight after a pressurization issue upended the company’s initial test.Elon Musk’s...</p>\n\n<a href=\"https://finance.yahoo.com/news/spacex-plans-starship-launch-april-235032502.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://finance.yahoo.com/news/spacex-plans-starship-launch-april-235032502.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2328938234","content_text":"SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for the groundbreaking flight after a pressurization issue upended the company’s initial test.Elon Musk’s closely held company announced the new date in a tweet on Monday, hours after postponing a planned inaugural test flight for the fully assembled vehicle. Minutes before scheduled liftoff on Monday, SpaceX scrubbed the flight, citing a “pressurization issue.” Officials had said they would need at least 48 hours before trying again. Musk had flagged a “frozen” pressure valve as an issue that might delay the launch in a tweet earlier in the day. But SpaceX made no reference to the issue in a statement about the new target date for sending Starship aloft. The new launch window will open at 8:28 a.m. local time in Boca Chica, Texas, where its launch pad is located, and closes one hour and two minutes later, SpaceX said. The uncrewed mission is a critical step in SpaceX’s plan to send humans into deep space. The company, formally known as Space Exploration Technologies Corp., aims to send the massive rocket in a partial orbit of Earth for the first time, paving the way for later missions to the moon and Mars.Delays — whether because of weather, technical issues or something else — are common in space launches.The latest postponement adds to a timeline that has already been almost two decades in the making: As early as 2005, Musk alluded to plans for a giant rocket codenamed “BFR.” More recently, the company has been testing components of the rocket system in preparation for this launch, its first attempt to reach space.Musk’s ‘420’ HistoryThe timing of the second attempt on April 20 appears to be a coincidence, although Musk is no stranger to the number “420,” which is associated with marijuana. He famously once claimed to have “funding secured” to take Tesla Inc. private at $420 a share. Earlier this year testifying in a lawsuit stemming from that claim, Musk said “there is some karma around 420,” prompting laughter in the courtroom.Musk serves as chief executive officer for both SpaceX and Tesla. Starship was conceived to bring people — including NASA astronauts — and cargo such as satellites into Earth’s orbit and beyond. The rocket is more powerful than any previous crewed spacecraft and taller than the Saturn V. The launch vehicle system also has been designed to be fully reusable, which SpaceX promises will reduce costs. When the launch attempt happens, the Super Heavy booster rocket is expected to break away from Starship after an initial climb to space and do a controlled dive into the Gulf of Mexico. If everything goes as planned, the Starship spacecraft will continue onward and arc through space completing almost a full lap around the Earth. It will then land in the Pacific Ocean off the coast of Hawaii.Musk tried on Sunday to temper expectations, citing a number of ways that things could go wrong, including comparing the engines to live grenades. On a Twitter audio livestream, the billionaire entrepreneur said he had one overriding goal for the attempt: “Just don’t blow up the launchpad.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":51,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944824642,"gmtCreate":1681794459787,"gmtModify":1681794463973,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Now the everyday Joe can become a quant&nbsp;","listText":"Now the everyday Joe can become a quant&nbsp;","text":"Now the everyday Joe can become a quant","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944824642","repostId":"2328872237","repostType":2,"repost":{"id":"2328872237","pubTimestamp":1681782292,"share":"https://www.laohu8.com/m/news/2328872237?lang=&edition=full","pubTime":"2023-04-18 09:44","market":"us","language":"en","title":"ChatGPT Can Decode Fed Speak, Predict Stock Moves from Headlines","url":"https://stock-news.laohu8.com/highlight/detail?id=2328872237","media":"The Straits Times","summary":"NEW YORK - The first wave of academic research applying ChatGPT to the world of finance is arriving ","content":"<div>\n<p>NEW YORK - The first wave of academic research applying ChatGPT to the world of finance is arriving - and judging by early results, the hype of the past few months is justified.Two new papers have ...</p>\n\n<a href=\"https://www.straitstimes.com/business/chatgpt-can-decode-fed-speak-predict-stock-moves-from-headlines\">Web Link</a>\n\n</div>\n","source":"straits_highlight","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>ChatGPT Can Decode Fed Speak, Predict Stock Moves from Headlines</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChatGPT Can Decode Fed Speak, Predict Stock Moves from Headlines\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-18 09:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/chatgpt-can-decode-fed-speak-predict-stock-moves-from-headlines><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK - The first wave of academic research applying ChatGPT to the world of finance is arriving - and judging by early results, the hype of the past few months is justified.Two new papers have ...</p>\n\n<a href=\"https://www.straitstimes.com/business/chatgpt-can-decode-fed-speak-predict-stock-moves-from-headlines\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软","GOOG":"谷歌"},"source_url":"https://www.straitstimes.com/business/chatgpt-can-decode-fed-speak-predict-stock-moves-from-headlines","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2328872237","content_text":"NEW YORK - The first wave of academic research applying ChatGPT to the world of finance is arriving - and judging by early results, the hype of the past few months is justified.Two new papers have been published this month that deployed the artificial intelligence (AI) chatbot in market-relevant tasks - one in deciphering whether Federal Reserve statements were hawkish or dovish, and one in determining whether headlines were good or bad for a stock.ChatGPT aced both tests, suggesting a potentially major step forward in the use of technology to turn reams of text from news articles to tweets and speeches into trading signals.That process is nothing new on Wall Street, of course, where quants have long used the kind of language models underpinning the chatbot to inform many strategies. But the findings point to the technology developed by OpenAI reaching a new level in terms of parsing nuance and context.“It’s one of the rare cases where the hype is real,” said Slavi Marinov, head of machine learning at Man AHL, which has been using the technology known as natural language processing (NLP) to read texts like earnings transcripts and Reddit posts for years.In the first paper, titled Can ChatGPT Decipher Fedspeak?, two researchers from the Fed itself found that ChatGPT came closest to humans in figuring out if the central bank’s statements were dovish or hawkish. Anne Lundgaard Hansen and Sophia Kazinnik at the Richmond Fed showed that it beat a commonly used model from Google called BERT and also classifications based on dictionaries.ChatGPT was even able to explain its classifications of Fed policy statements in a way that resembled the central bank’s own analyst, who also interpreted the language to act as a human benchmark for the study.Take this sentence from a May 2013 statement: “Labor market conditions have shown some improvement in recent months, on balance, but the unemployment rate remains elevated.” The robot explained the line is dovish because it suggests the economy is not yet fully recovered. That was similar to the conclusion of the analyst — Bryson, described in the paper as “a 24-year-old male, known for his intelligence and curiosity.” relates to ChatGPT Can Decode Fed Speak, Predict Stock Moves From HeadlinesIn the second study, Can ChatGPT Forecast Stock Price Movements? Return Predictability and Large Language Models, Alejandro Lopez-Lira and Yuehua Tang at the University of Florida prompted ChatGPT to pretend to be a financial expert and interpret corporate news headlines. They used news after late 2021, a period that wasn’t covered in the chatbot’s training data.The study found that the answers given by ChatGPT showed a statistical link to the stock’s subsequent moves, a sign that the tech was able to correctly parse the implications of the news.In an example about whether the headline “Rimini Street Fined $630,000 in Case Against Oracle” was good or bad for Oracle, ChatGPT explained that it was positive because the penalty “could potentially boost investor confidence in Oracle’s ability to protect its intellectual property and increase demand for its products and services.”For most sophisticated quants it’s now almost run-of-the-mill to use NLP to gauge how popular a stock is from Twitter or to incorporate the latest headlines on a company. But the advances demonstrated by ChatGPT look set to open up whole worlds of new information and make the tech more accessible to a broader community of finance pros.To Mr Marinov, while there’s no surprise machines can now read almost as well as people, ChatGPT can potentially speed up the whole process.When Man AHL was first building the models, the quant hedge fund was manually labeling each sentence as positive or negative for an asset to give the machines a blueprint for interpreting the language. The London-based firm then turned the whole process into a game that ranked participants and calculated how much they agreed on each sentence, so that all employees could get involved.The two new papers suggest ChatGPT can pull off similar tasks without even being specifically trained. The Fed research showed that this so-called zero-shot learning already exceeds prior technologies, but fine-tuning it based on some specific examples made it even better. “Previously you had to label the data yourself,” said Marinov, who also previously co-founded a NLP startup. “Now you could complement that with designing the right prompt for ChatGPT.” Bloomberg LP, the parent of Bloomberg News, also released a large language model for finance last month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945455855,"gmtCreate":1681567092477,"gmtModify":1681567737896,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","listText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","text":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945455855","repostId":"2327177777","repostType":2,"repost":{"id":"2327177777","pubTimestamp":1681516587,"share":"https://www.laohu8.com/m/news/2327177777?lang=&edition=full","pubTime":"2023-04-15 07:56","market":"us","language":"en","title":"Elon Musk to Start AI Rival in Challenge to OpenAI","url":"https://stock-news.laohu8.com/highlight/detail?id=2327177777","media":"Seekingalpha","summary":"Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX ","content":"<html><head></head><body><p>Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX rocket, Elon Musk would appear to have more than enough on his plate to keep him busy.</p><p>But, it seems like he has room for just one more thing: Artificial Intelligence.</p><p>The iconic tech billionaire is planning to launch an AI startup with a directive to rival the ChatGPT technology from OpenAI, and is said to be building up a team of engineers and researchers to get the project off the ground. And according to the Financial Times, Musk is not just talking about making his AI enterprise a reality.</p><p>The FT said that &#34;people familiar with the tech entrepreneur&#39;s plans&#34; said Musk has already bought up &#34;thousands&#34; of Nvidia&#39;s (NVDA) high-powered graphics processors [GPUs] to build a large language model that will be capable of running massive amounts of data to create content on the level of ChatGPT.</p><p>According to the FT, the engineers Musk has hired include several from DeepMind, a British AI research lab that was founded in 2010, and which now is a subsidiary of Google&#39;s parent company Alphabet (GOOG).</p><p>There is a possibility that the chance to take on OpenAI could also be personal for Musk, as co-founded that company in 2015, and left its board of directors in 2018 due to differences in strategy with OpenAI executives.</p><p>ChatGPT has taken center stage in the booming interest in AI over the last several months since Microsoft (MSFT) threw its weight behind OpenAI in January with a &#34;multi-year, multi-billion dollar investment&#34; in the company.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk to Start AI Rival in Challenge to OpenAI</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\">\nElon Musk to Start AI Rival in Challenge to OpenAI\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-15 07:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3956681-elon-musk-to-start-ai-rival-in-challenge-to-openai><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX rocket, Elon Musk would appear to have more than enough on his plate to keep him busy.But, it seems ...</p>\n\n<a href=\"https://seekingalpha.com/news/3956681-elon-musk-to-start-ai-rival-in-challenge-to-openai\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","TWTR":"Twitter"},"source_url":"https://seekingalpha.com/news/3956681-elon-musk-to-start-ai-rival-in-challenge-to-openai","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2327177777","content_text":"Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX rocket, Elon Musk would appear to have more than enough on his plate to keep him busy.But, it seems like he has room for just one more thing: Artificial Intelligence.The iconic tech billionaire is planning to launch an AI startup with a directive to rival the ChatGPT technology from OpenAI, and is said to be building up a team of engineers and researchers to get the project off the ground. And according to the Financial Times, Musk is not just talking about making his AI enterprise a reality.The FT said that \"people familiar with the tech entrepreneur's plans\" said Musk has already bought up \"thousands\" of Nvidia's (NVDA) high-powered graphics processors [GPUs] to build a large language model that will be capable of running massive amounts of data to create content on the level of ChatGPT.According to the FT, the engineers Musk has hired include several from DeepMind, a British AI research lab that was founded in 2010, and which now is a subsidiary of Google's parent company Alphabet (GOOG).There is a possibility that the chance to take on OpenAI could also be personal for Musk, as co-founded that company in 2015, and left its board of directors in 2018 due to differences in strategy with OpenAI executives.ChatGPT has taken center stage in the booming interest in AI over the last several months since Microsoft (MSFT) threw its weight behind OpenAI in January with a \"multi-year, multi-billion dollar investment\" in the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9084416485,"gmtCreate":1650900207840,"gmtModify":1676534811993,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"He has secured funding and likely to buy Twitter successfully, though I personally would prefer him to not be distracted and concentrate on the science challenges like EVs, SpaceX and Neuralink.. And sending humanity to Mars..rather than wasting his brain cells in the edit button and how much to charge for blue tick..","listText":"He has secured funding and likely to buy Twitter successfully, though I personally would prefer him to not be distracted and concentrate on the science challenges like EVs, SpaceX and Neuralink.. And sending humanity to Mars..rather than wasting his brain cells in the edit button and how much to charge for blue tick..","text":"He has secured funding and likely to buy Twitter successfully, though I personally would prefer him to not be distracted and concentrate on the science challenges like EVs, SpaceX and Neuralink.. And sending humanity to Mars..rather than wasting his brain cells in the edit button and how much to charge for blue tick..","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":61,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084416485","isVote":1,"tweetType":1,"viewCount":1656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944722115,"gmtCreate":1682213376938,"gmtModify":1682213381335,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Never a dull moment with Musk","listText":"Never a dull moment with Musk","text":"Never a dull moment with Musk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":21,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944722115","repostId":"2329066914","repostType":2,"repost":{"id":"2329066914","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1682212245,"share":"https://www.laohu8.com/m/news/2329066914?lang=&edition=full","pubTime":"2023-04-23 09:10","market":"us","language":"en","title":"In 24 Hours, Elon Musk Reignited His Reputation for Risk","url":"https://stock-news.laohu8.com/highlight/detail?id=2329066914","media":"Dow Jones","summary":"In the span of 24 hours this past week, Elon Musk made three very big bets with three very different","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c549eba039eaa3fcbcda1dfdce6bd27\" tg-width=\"2000\" tg-height=\"1025\"/></p><p>In the span of 24 hours this past week, Elon Musk made three very big bets with three very different companies, together showing his penchant to plow ahead despite sizable risks.</p><p>Between Wednesday and Thursday evenings, he stripped celebrities, journalists and other high-profile users of their free, legacy verification on Twitter, risking a VIP revolt on the social-media platform. He promised that the electric-car maker Tesla Inc. would chase sales volume at the expense of profitability. And he launched SpaceX&#39;s first of its kind giant space rocket, which exploded on the way to the heavens.</p><p>In an era when risk management is a standard part of C-suite calculations, Mr. Musk has made his career and fortune tolerating the kinds of bets that would strike panic in many corporate soldiers.</p><p>Yet these new gambles come as the 51-year-old billionaire enters the stage of his entrepreneurial career when big stumbles could end up overshadowing previous triumphs and undoing what he has built.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/99a06a49ec3a7a1e6c1d149036fb8f37\" tg-width=\"700\" tg-height=\"386\"/></p><p>Today&#39;s SpaceX, his rocket company, and Tesla, the electric-car maker, grew out of near misses dating back roughly 20 years. Mr. Musk has said many times he initially gave those ventures each a 10% chance of success.</p><p>He put his personal fortune into them anyway. In doing so, he weathered failed rocket launches and avoided close calls with bankruptcies. When things have looked most bleak, he has been quick to course-adjust, saying he would rather make the wrong choice than no decision, all while trying to pick up a winning momentum.</p><p>&#34;If the odds are probably in your favor, you should make as many decisions as possible within the bounds of what is executable,&#34; Mr. Musk said a few years ago. &#34;This is like being the house in Vegas. Probability is the most powerful force in the universe, which is why the house always wins. Be the house.&#34;</p><p>In 2018, for example, when Tesla&#39;s cash was running low and car production was slowed because of a mistake in overautomating his factory, Mr. Musk greenlighted an unprecedented idea to build cars under a tent outside the factory so the company could move faster in remaking its assembly line and churn out the vehicles needed to generate needed revenue. Within the year, Tesla was printing a quarterly profit.</p><p>His contrarian takes aren&#39;t always smooth.</p><p>Six months into his control of Twitter, Mr. Musk is still finding his way as he tries to remake the social-media company into something much bigger.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/202014d8f8284800770679bd3c98f3c2\" tg-width=\"700\" tg-height=\"466\"/></p><p>One part of his plan is to generate more revenue from subscriptions, opening up Twitter&#39;s so-called blue check marks to anyone willing to pay and requiring legacy designees to pony up to keep their verifications -- a move that was enforced Thursday when many users began reporting the loss of their status.</p><p>The move has pitted him against the Twitterati as he has upended the platform&#39;s social hierarchy. It has placed him on the receiving end of complaints from sports heroes, Hollywood stars and others armed with a tweet button.</p><p>Mr. Musk has described the move as democratizing the platform, but it risks alienating power tweeters who have helped make the site interesting to a broader audience. It remains to be seen whether he will end up with more revenue from the gambit, or lose users.</p><p>&#34;If most OG blue checks stop tweeting in protest of being asked to pay to create the content that Twitter lives by...Twitter dies,&#34; Nathan Hubbard, a former Twitter executive, warned last month.</p><p>At Tesla, the results of Mr. Musk&#39;s recent bet to cut prices to increase demand came into focus when the company reported first-quarter results Wednesday that showed a drop in profit of 24%.</p><p>In the midst of concern from investors, he was undeterred, doubling down on a conference call with analysts.</p><p>Mr. Musk told them he would be chasing more sales at the expense of profitability in the belief that he can eventually profit more from a large fleet of already-sold cars by eventually activating driverless technology that will generate revenue from software updates.</p><p>&#34;Tesla is in a uniquely strong strategic position because we&#39;re the only ones making cars that technically we could sell for zero profit for now and then yield actually tremendous economics in the future through autonomy,&#34; he said.</p><p>The strategy is one that runs counter to the tactic most other car companies have taken in recent years of putting a priority on profits over chasing sales crowns. And so far, Tesla hasn&#39;t demonstrated a fully autonomous vehicle to the world, though Mr. Musk has promised for several years it is near completion.</p><p>&#34;While possible, it is unclear to us that Tesla is uniquely...poised to capture the self-driving opportunity any time soon and whether its existing fleet will even be able to run&#34; fully self-driving technology, Toni Sacconaghi, an analyst at Bernstein, told investors in a note.</p><p>The risks of launching a rocket into space couldn&#39;t have been more clear than on Thursday morning, when his SpaceX Starship exploded into flames. But for him it was a good day.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7fa1b7631f82689f581733d6168c9bce\" tg-width=\"700\" tg-height=\"466\"/></p><p>Founded in 2002, the company formally known as Space Exploration Technologies Corp. is built on failures that engineers learned from to improve future, reusable rockets. Its first three rockets exploded, nearly sinking the company in its infancy. SpaceX eventually found success with the Falcon 9, which it used on 60 launches last year. The rocket has become crucial to the U.S. space program.</p><p>The latest effort was going to be risky, Mr. Musk had already warned. A possible explosion might damage the company&#39;s South Texas launchpad, potentially delaying future launches. Success, the company said, would be measured by what it learned to help advance the giant rocket, which is essential to Mr. Musk&#39;s quest to take people to Mars and crucial to SpaceX&#39;s business of shuttling heavy cargo to outer space.</p><p>&#34;My top hope is please, may fate smile upon us, and we clear the launchpad before anything goes wrong. That&#39;s all I&#39;m asking,&#34; Mr. Musk said in the days leading up to the launch.</p><p>When it came time Thursday, Starship managed to do just that, making it 24 miles into the sky before it exploded in what SpaceX called a &#34;rapid unscheduled disassembly.&#34;</p><p>Among the accolades that poured in after the launch, Anand Mahindra, the chairman of the Mahindra Group conglomerate, said Mr. Musk&#39;s most important contribution to business would be &#34;his powerful attitude to risk.&#34;</p><p>&#34;Most would be terminally daunted by such a &#39;failure,&#39;&#34; Mr. Mahindra said on Twitter. &#34;But when you set up each initiative as a learning experiment (and of course, have raised the resources to do so!) you essentially extend the frontiers of knowledge &amp; progress.&#34;</p><p>In the seconds after the explosion, a SpaceX video camera caught Mr. Musk as he sat quietly in his command center, where, for the briefest of moments, he flashed a sly grin.</p><p>Hours later, he tweeted, &#34;Such a great day in so many ways.&#34;</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>In 24 Hours, Elon Musk Reignited His Reputation for Risk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIn 24 Hours, Elon Musk Reignited His Reputation for Risk\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/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-04-23 09:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c549eba039eaa3fcbcda1dfdce6bd27\" tg-width=\"2000\" tg-height=\"1025\"/></p><p>In the span of 24 hours this past week, Elon Musk made three very big bets with three very different companies, together showing his penchant to plow ahead despite sizable risks.</p><p>Between Wednesday and Thursday evenings, he stripped celebrities, journalists and other high-profile users of their free, legacy verification on Twitter, risking a VIP revolt on the social-media platform. He promised that the electric-car maker Tesla Inc. would chase sales volume at the expense of profitability. And he launched SpaceX&#39;s first of its kind giant space rocket, which exploded on the way to the heavens.</p><p>In an era when risk management is a standard part of C-suite calculations, Mr. Musk has made his career and fortune tolerating the kinds of bets that would strike panic in many corporate soldiers.</p><p>Yet these new gambles come as the 51-year-old billionaire enters the stage of his entrepreneurial career when big stumbles could end up overshadowing previous triumphs and undoing what he has built.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/99a06a49ec3a7a1e6c1d149036fb8f37\" tg-width=\"700\" tg-height=\"386\"/></p><p>Today&#39;s SpaceX, his rocket company, and Tesla, the electric-car maker, grew out of near misses dating back roughly 20 years. Mr. Musk has said many times he initially gave those ventures each a 10% chance of success.</p><p>He put his personal fortune into them anyway. In doing so, he weathered failed rocket launches and avoided close calls with bankruptcies. When things have looked most bleak, he has been quick to course-adjust, saying he would rather make the wrong choice than no decision, all while trying to pick up a winning momentum.</p><p>&#34;If the odds are probably in your favor, you should make as many decisions as possible within the bounds of what is executable,&#34; Mr. Musk said a few years ago. &#34;This is like being the house in Vegas. Probability is the most powerful force in the universe, which is why the house always wins. Be the house.&#34;</p><p>In 2018, for example, when Tesla&#39;s cash was running low and car production was slowed because of a mistake in overautomating his factory, Mr. Musk greenlighted an unprecedented idea to build cars under a tent outside the factory so the company could move faster in remaking its assembly line and churn out the vehicles needed to generate needed revenue. Within the year, Tesla was printing a quarterly profit.</p><p>His contrarian takes aren&#39;t always smooth.</p><p>Six months into his control of Twitter, Mr. Musk is still finding his way as he tries to remake the social-media company into something much bigger.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/202014d8f8284800770679bd3c98f3c2\" tg-width=\"700\" tg-height=\"466\"/></p><p>One part of his plan is to generate more revenue from subscriptions, opening up Twitter&#39;s so-called blue check marks to anyone willing to pay and requiring legacy designees to pony up to keep their verifications -- a move that was enforced Thursday when many users began reporting the loss of their status.</p><p>The move has pitted him against the Twitterati as he has upended the platform&#39;s social hierarchy. It has placed him on the receiving end of complaints from sports heroes, Hollywood stars and others armed with a tweet button.</p><p>Mr. Musk has described the move as democratizing the platform, but it risks alienating power tweeters who have helped make the site interesting to a broader audience. It remains to be seen whether he will end up with more revenue from the gambit, or lose users.</p><p>&#34;If most OG blue checks stop tweeting in protest of being asked to pay to create the content that Twitter lives by...Twitter dies,&#34; Nathan Hubbard, a former Twitter executive, warned last month.</p><p>At Tesla, the results of Mr. Musk&#39;s recent bet to cut prices to increase demand came into focus when the company reported first-quarter results Wednesday that showed a drop in profit of 24%.</p><p>In the midst of concern from investors, he was undeterred, doubling down on a conference call with analysts.</p><p>Mr. Musk told them he would be chasing more sales at the expense of profitability in the belief that he can eventually profit more from a large fleet of already-sold cars by eventually activating driverless technology that will generate revenue from software updates.</p><p>&#34;Tesla is in a uniquely strong strategic position because we&#39;re the only ones making cars that technically we could sell for zero profit for now and then yield actually tremendous economics in the future through autonomy,&#34; he said.</p><p>The strategy is one that runs counter to the tactic most other car companies have taken in recent years of putting a priority on profits over chasing sales crowns. And so far, Tesla hasn&#39;t demonstrated a fully autonomous vehicle to the world, though Mr. Musk has promised for several years it is near completion.</p><p>&#34;While possible, it is unclear to us that Tesla is uniquely...poised to capture the self-driving opportunity any time soon and whether its existing fleet will even be able to run&#34; fully self-driving technology, Toni Sacconaghi, an analyst at Bernstein, told investors in a note.</p><p>The risks of launching a rocket into space couldn&#39;t have been more clear than on Thursday morning, when his SpaceX Starship exploded into flames. But for him it was a good day.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7fa1b7631f82689f581733d6168c9bce\" tg-width=\"700\" tg-height=\"466\"/></p><p>Founded in 2002, the company formally known as Space Exploration Technologies Corp. is built on failures that engineers learned from to improve future, reusable rockets. Its first three rockets exploded, nearly sinking the company in its infancy. SpaceX eventually found success with the Falcon 9, which it used on 60 launches last year. The rocket has become crucial to the U.S. space program.</p><p>The latest effort was going to be risky, Mr. Musk had already warned. A possible explosion might damage the company&#39;s South Texas launchpad, potentially delaying future launches. Success, the company said, would be measured by what it learned to help advance the giant rocket, which is essential to Mr. Musk&#39;s quest to take people to Mars and crucial to SpaceX&#39;s business of shuttling heavy cargo to outer space.</p><p>&#34;My top hope is please, may fate smile upon us, and we clear the launchpad before anything goes wrong. That&#39;s all I&#39;m asking,&#34; Mr. Musk said in the days leading up to the launch.</p><p>When it came time Thursday, Starship managed to do just that, making it 24 miles into the sky before it exploded in what SpaceX called a &#34;rapid unscheduled disassembly.&#34;</p><p>Among the accolades that poured in after the launch, Anand Mahindra, the chairman of the Mahindra Group conglomerate, said Mr. Musk&#39;s most important contribution to business would be &#34;his powerful attitude to risk.&#34;</p><p>&#34;Most would be terminally daunted by such a &#39;failure,&#39;&#34; Mr. Mahindra said on Twitter. &#34;But when you set up each initiative as a learning experiment (and of course, have raised the resources to do so!) you essentially extend the frontiers of knowledge &amp; progress.&#34;</p><p>In the seconds after the explosion, a SpaceX video camera caught Mr. Musk as he sat quietly in his command center, where, for the briefest of moments, he flashed a sly grin.</p><p>Hours later, he tweeted, &#34;Such a great day in so many ways.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","BK4585":"ETF&股票定投概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4534":"瑞士信贷持仓","LU2063271972.USD":"富兰克林创新领域基金","BK4555":"新能源车","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0823414478.USD":"法巴经典能源转换基金","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4508":"社交媒体","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4527":"明星科技股","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4077":"互动媒体与服务","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4550":"红杉资本持仓","BK4588":"碎股","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4551":"寇图资本持仓","BK4574":"无人驾驶","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","BK4581":"高盛持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4099":"汽车制造商","BK4511":"特斯拉概念","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4548":"巴美列捷福持仓","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0823411888.USD":"法巴消费创新基金 Cap","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","TSLA":"特斯拉","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2329066914","content_text":"In the span of 24 hours this past week, Elon Musk made three very big bets with three very different companies, together showing his penchant to plow ahead despite sizable risks.Between Wednesday and Thursday evenings, he stripped celebrities, journalists and other high-profile users of their free, legacy verification on Twitter, risking a VIP revolt on the social-media platform. He promised that the electric-car maker Tesla Inc. would chase sales volume at the expense of profitability. And he launched SpaceX's first of its kind giant space rocket, which exploded on the way to the heavens.In an era when risk management is a standard part of C-suite calculations, Mr. Musk has made his career and fortune tolerating the kinds of bets that would strike panic in many corporate soldiers.Yet these new gambles come as the 51-year-old billionaire enters the stage of his entrepreneurial career when big stumbles could end up overshadowing previous triumphs and undoing what he has built.Today's SpaceX, his rocket company, and Tesla, the electric-car maker, grew out of near misses dating back roughly 20 years. Mr. Musk has said many times he initially gave those ventures each a 10% chance of success.He put his personal fortune into them anyway. In doing so, he weathered failed rocket launches and avoided close calls with bankruptcies. When things have looked most bleak, he has been quick to course-adjust, saying he would rather make the wrong choice than no decision, all while trying to pick up a winning momentum.\"If the odds are probably in your favor, you should make as many decisions as possible within the bounds of what is executable,\" Mr. Musk said a few years ago. \"This is like being the house in Vegas. Probability is the most powerful force in the universe, which is why the house always wins. Be the house.\"In 2018, for example, when Tesla's cash was running low and car production was slowed because of a mistake in overautomating his factory, Mr. Musk greenlighted an unprecedented idea to build cars under a tent outside the factory so the company could move faster in remaking its assembly line and churn out the vehicles needed to generate needed revenue. Within the year, Tesla was printing a quarterly profit.His contrarian takes aren't always smooth.Six months into his control of Twitter, Mr. Musk is still finding his way as he tries to remake the social-media company into something much bigger.One part of his plan is to generate more revenue from subscriptions, opening up Twitter's so-called blue check marks to anyone willing to pay and requiring legacy designees to pony up to keep their verifications -- a move that was enforced Thursday when many users began reporting the loss of their status.The move has pitted him against the Twitterati as he has upended the platform's social hierarchy. It has placed him on the receiving end of complaints from sports heroes, Hollywood stars and others armed with a tweet button.Mr. Musk has described the move as democratizing the platform, but it risks alienating power tweeters who have helped make the site interesting to a broader audience. It remains to be seen whether he will end up with more revenue from the gambit, or lose users.\"If most OG blue checks stop tweeting in protest of being asked to pay to create the content that Twitter lives by...Twitter dies,\" Nathan Hubbard, a former Twitter executive, warned last month.At Tesla, the results of Mr. Musk's recent bet to cut prices to increase demand came into focus when the company reported first-quarter results Wednesday that showed a drop in profit of 24%.In the midst of concern from investors, he was undeterred, doubling down on a conference call with analysts.Mr. Musk told them he would be chasing more sales at the expense of profitability in the belief that he can eventually profit more from a large fleet of already-sold cars by eventually activating driverless technology that will generate revenue from software updates.\"Tesla is in a uniquely strong strategic position because we're the only ones making cars that technically we could sell for zero profit for now and then yield actually tremendous economics in the future through autonomy,\" he said.The strategy is one that runs counter to the tactic most other car companies have taken in recent years of putting a priority on profits over chasing sales crowns. And so far, Tesla hasn't demonstrated a fully autonomous vehicle to the world, though Mr. Musk has promised for several years it is near completion.\"While possible, it is unclear to us that Tesla is uniquely...poised to capture the self-driving opportunity any time soon and whether its existing fleet will even be able to run\" fully self-driving technology, Toni Sacconaghi, an analyst at Bernstein, told investors in a note.The risks of launching a rocket into space couldn't have been more clear than on Thursday morning, when his SpaceX Starship exploded into flames. But for him it was a good day.Founded in 2002, the company formally known as Space Exploration Technologies Corp. is built on failures that engineers learned from to improve future, reusable rockets. Its first three rockets exploded, nearly sinking the company in its infancy. SpaceX eventually found success with the Falcon 9, which it used on 60 launches last year. The rocket has become crucial to the U.S. space program.The latest effort was going to be risky, Mr. Musk had already warned. A possible explosion might damage the company's South Texas launchpad, potentially delaying future launches. Success, the company said, would be measured by what it learned to help advance the giant rocket, which is essential to Mr. Musk's quest to take people to Mars and crucial to SpaceX's business of shuttling heavy cargo to outer space.\"My top hope is please, may fate smile upon us, and we clear the launchpad before anything goes wrong. That's all I'm asking,\" Mr. Musk said in the days leading up to the launch.When it came time Thursday, Starship managed to do just that, making it 24 miles into the sky before it exploded in what SpaceX called a \"rapid unscheduled disassembly.\"Among the accolades that poured in after the launch, Anand Mahindra, the chairman of the Mahindra Group conglomerate, said Mr. Musk's most important contribution to business would be \"his powerful attitude to risk.\"\"Most would be terminally daunted by such a 'failure,'\" Mr. Mahindra said on Twitter. \"But when you set up each initiative as a learning experiment (and of course, have raised the resources to do so!) you essentially extend the frontiers of knowledge & progress.\"In the seconds after the explosion, a SpaceX video camera caught Mr. Musk as he sat quietly in his command center, where, for the briefest of moments, he flashed a sly grin.Hours later, he tweeted, \"Such a great day in so many ways.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945496380,"gmtCreate":1681534623641,"gmtModify":1681534626765,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Good analysis","listText":"Good analysis","text":"Good analysis","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945496380","repostId":"1163718092","repostType":2,"repost":{"id":"1163718092","pubTimestamp":1681530012,"share":"https://www.laohu8.com/m/news/1163718092?lang=&edition=full","pubTime":"2023-04-15 11:40","market":"us","language":"en","title":"The S&P 500 May Be Heading Back To Its October Low Very Soon","url":"https://stock-news.laohu8.com/highlight/detail?id=1163718092","media":"Seeking Alpha","summary":"SummaryLiquidity is likely to make a big u-turn over the next couple of weeks.Reserve balances at th","content":"<html><head></head><body><h2 style=\"text-align: left;\">Summary</h2><ul><li><p>Liquidity is likely to make a big u-turn over the next couple of weeks.</p></li><li><p>Reserve balances at the Federal Reserve have risen in recent weeks, but that&#39;s due to reverse.</p></li><li><p>The Treasury General Account is down to its last $85 billion and is set to rise significantly as tax season comes to an end.</p></li></ul><p>The recent wave of liquidity in the equity market is near its end. Depending on how much the reserve balances sink over the next two to three weeks could result in the S&amp;P 500 even falling back to its October lows.</p><p style=\"text-align: left;\">Much of this will have to do with the Fed balance sheet, which shrank this week as the banking &#34;crisis&#34; begins to ease and activity at the Fed&#39;s lending facilities diminishes. This has led to reverse balances dropping due to increased usage of the reverse repo facility as investors have pushed money into higher-yielding money market accounts.</p><p style=\"text-align: left;\">This has sent the reserve balance lower recently, but those reserves could be set to drop even further, especially now that the Treasury General Account has just $85 billion on hand. The decline in the Treasury General Account has helped to provide the markets with excess liquidity. But with tax receipts set to pour in and the recent debt issuances, the Treasury General Account should rise, which should work to drain liquidity from the markets.</p><p style=\"text-align: left;\">The Treasury General Account has fallen sharply in recent weeks, as the Treasury has used extraordinary measures due to the current debt ceiling debate. The TGA hasn&#39;t fallen to levels this low since December 2021.</p><p style=\"text-align: left;\">The annual tax filing due date comes next week, and the inflows from tax season will need to be high to give the Treasury the cash required to run the government while Congress works out the details on the debt limit.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c885ec6498fa817414707e7052d6d2b9\" alt=\"tga\" title=\"tga\" tg-width=\"640\" tg-height=\"347\"/><span>tga</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">This increase in the TGA from taxes will affect markets as it will work to reduce overall reserve balances held at the Fed, which work to drain liquidity and push the S&amp;P 500 lower. The chart below shows the S&amp;P 500 and the TGA (inverted) relationship. A falling TGA helps free up reserve balance, thus adding liquidity to the market, and a rising TGA removes reserve balances, thus draining liquidity from the market.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/269ff1ebce1f014ee809247b07ff32d4\" alt=\"TGA vs. SPX\" title=\"TGA vs. SPX\" tg-width=\"640\" tg-height=\"347\"/><span>TGA vs. SPX</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">In the two weeks from April 13 to April 26 last year, the TGA increased from approximately $540 billion to $975 billion, an increase of $435 billion. This sent reserve balances from $3.8 trillion down to $3.3 trillion. This also resulted in one of the steepest declines in the S&amp;P 500 in 2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d85f1c02da9301517589841b22224485\" alt=\"APril 2022\" title=\"APril 2022\" tg-width=\"640\" tg-height=\"347\"/><span>APril 2022</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">Currently, reserve balances are around $3.3 trillion. An increase in the TGA over the next two weeks of a similar size as in 2022 would result in reserve balances falling to about $2.9 trillion and drain significant liquidity from the markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16689a4c68fecd31e0a1bd6d4c49b2fb\" alt=\"Reserve Balances Falling\" title=\"Reserve Balances Falling\" tg-width=\"640\" tg-height=\"347\"/><span>Reserve Balances Falling</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">Additionally, the latest data shows that money market funds continued to rise and reached almost $5.3 trillion as of April 13. The increase in money market accounts appears to be funneling into the Fed&#39;s reverse repo facility, which has reached $2.3 trillion and is almost back to its highest levels in 2023.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e4e9c5c527473aaa3cebd8bedb8c09a\" alt=\"Reverse Repo\" title=\"Reverse Repo\" tg-width=\"640\" tg-height=\"347\"/><span>Reverse Repo</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">But more importantly, the usage of the Fed&#39;s banking crisis facility has been declining, along with the repurchase agreements of foreign officials. As this decline or normalize due to the banking &#34;crisis&#34; subsides, it will further work to reduce the Fed&#39;s balance sheet&#39;s size.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1d1076f0006a5ed4a5ba40bcf2414fc1\" alt=\"Fed Balance sheet\" title=\"Fed Balance sheet\" tg-width=\"640\" tg-height=\"347\"/><span>Fed Balance sheet</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">In all, we could see a significant decline in the size of the reserve balances over the next two to four weeks, which based on my models that factor in the current loans made by the Fed and without the loans, suggest an increase in the TGA of equal size to last year could send reserve balance to as low as $2.6 to $2.9 trillion. But unlike the significant decline witnessed at the end of 2022, this decline would be longer lasting and could have a more profound effect on markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/623b32cad0121c80b6d6b27a61268fd5\" alt=\"Reserve balances\" title=\"Reserve balances\" tg-width=\"640\" tg-height=\"347\"/><span>Reserve balances</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">Again, historically, the S&amp;P 500 has lagged changes in reserves balances by around two weeks, and if reserved balances begin to drop, the S&amp;P 500 could very well be on its way lower, and depending on how far those reserves fall, it could be a pretty significant drop to come. Historically when the reserve balance makes new highs, stocks make new highs. When the reserve balances make new lows, stocks make new lows. A drop to the lows in reserve balance does leave the door open to a new low in the S&amp;P 500, as far-fetched as that may sound, based on the historical trends.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05f8941621268cb315d7b142382ba029\" alt=\"Reserves S&amp;P 500\" title=\"Reserves S&amp;P 500\" tg-width=\"640\" tg-height=\"347\"/><span>Reserves S&amp;P 500</span></p><p style=\"text-align: left;\"><strong>Bloomberg</strong></p><p style=\"text-align: left;\">So it&#39;s certainly worth being aware of the significant risk here if the TGA rises and reserves fall. The TGA is straightforward to track and is updated daily on the Treasuries website.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500 May Be Heading Back To Its October Low Very Soon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe S&P 500 May Be Heading Back To Its October Low Very Soon\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-15 11:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4594133-sp-500-may-be-heading-back-to-october-low-very-soon><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryLiquidity is likely to make a big u-turn over the next couple of weeks.Reserve balances at the Federal Reserve have risen in recent weeks, but that's due to reverse.The Treasury General Account...</p>\n\n<a href=\"https://seekingalpha.com/article/4594133-sp-500-may-be-heading-back-to-october-low-very-soon\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4594133-sp-500-may-be-heading-back-to-october-low-very-soon","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1163718092","content_text":"SummaryLiquidity is likely to make a big u-turn over the next couple of weeks.Reserve balances at the Federal Reserve have risen in recent weeks, but that's due to reverse.The Treasury General Account is down to its last $85 billion and is set to rise significantly as tax season comes to an end.The recent wave of liquidity in the equity market is near its end. Depending on how much the reserve balances sink over the next two to three weeks could result in the S&P 500 even falling back to its October lows.Much of this will have to do with the Fed balance sheet, which shrank this week as the banking \"crisis\" begins to ease and activity at the Fed's lending facilities diminishes. This has led to reverse balances dropping due to increased usage of the reverse repo facility as investors have pushed money into higher-yielding money market accounts.This has sent the reserve balance lower recently, but those reserves could be set to drop even further, especially now that the Treasury General Account has just $85 billion on hand. The decline in the Treasury General Account has helped to provide the markets with excess liquidity. But with tax receipts set to pour in and the recent debt issuances, the Treasury General Account should rise, which should work to drain liquidity from the markets.The Treasury General Account has fallen sharply in recent weeks, as the Treasury has used extraordinary measures due to the current debt ceiling debate. The TGA hasn't fallen to levels this low since December 2021.The annual tax filing due date comes next week, and the inflows from tax season will need to be high to give the Treasury the cash required to run the government while Congress works out the details on the debt limit.tgaBloombergThis increase in the TGA from taxes will affect markets as it will work to reduce overall reserve balances held at the Fed, which work to drain liquidity and push the S&P 500 lower. The chart below shows the S&P 500 and the TGA (inverted) relationship. A falling TGA helps free up reserve balance, thus adding liquidity to the market, and a rising TGA removes reserve balances, thus draining liquidity from the market.TGA vs. SPXBloombergIn the two weeks from April 13 to April 26 last year, the TGA increased from approximately $540 billion to $975 billion, an increase of $435 billion. This sent reserve balances from $3.8 trillion down to $3.3 trillion. This also resulted in one of the steepest declines in the S&P 500 in 2022.APril 2022BloombergCurrently, reserve balances are around $3.3 trillion. An increase in the TGA over the next two weeks of a similar size as in 2022 would result in reserve balances falling to about $2.9 trillion and drain significant liquidity from the markets.Reserve Balances FallingBloombergAdditionally, the latest data shows that money market funds continued to rise and reached almost $5.3 trillion as of April 13. The increase in money market accounts appears to be funneling into the Fed's reverse repo facility, which has reached $2.3 trillion and is almost back to its highest levels in 2023.Reverse RepoBloombergBut more importantly, the usage of the Fed's banking crisis facility has been declining, along with the repurchase agreements of foreign officials. As this decline or normalize due to the banking \"crisis\" subsides, it will further work to reduce the Fed's balance sheet's size.Fed Balance sheetBloombergIn all, we could see a significant decline in the size of the reserve balances over the next two to four weeks, which based on my models that factor in the current loans made by the Fed and without the loans, suggest an increase in the TGA of equal size to last year could send reserve balance to as low as $2.6 to $2.9 trillion. But unlike the significant decline witnessed at the end of 2022, this decline would be longer lasting and could have a more profound effect on markets.Reserve balancesBloombergAgain, historically, the S&P 500 has lagged changes in reserves balances by around two weeks, and if reserved balances begin to drop, the S&P 500 could very well be on its way lower, and depending on how far those reserves fall, it could be a pretty significant drop to come. Historically when the reserve balance makes new highs, stocks make new highs. When the reserve balances make new lows, stocks make new lows. A drop to the lows in reserve balance does leave the door open to a new low in the S&P 500, as far-fetched as that may sound, based on the historical trends.Reserves S&P 500BloombergSo it's certainly worth being aware of the significant risk here if the TGA rises and reserves fall. The TGA is straightforward to track and is updated daily on the Treasuries website.","news_type":1},"isVote":1,"tweetType":1,"viewCount":50,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9010644502,"gmtCreate":1648370600030,"gmtModify":1676534332082,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AMRS\">$Amyris(AMRS)$</a>Hope this Huat Big big when their barra bonita factory opens in Q2 to enable them control the fermentation of their products and capture more margins that was lost to external subcontractors","listText":"<a href=\"https://ttm.financial/S/AMRS\">$Amyris(AMRS)$</a>Hope this Huat Big big when their barra bonita factory opens in Q2 to enable them control the fermentation of their products and capture more margins that was lost to external subcontractors","text":"$Amyris(AMRS)$Hope this Huat Big big when their barra bonita factory opens in Q2 to enable them control the fermentation of their products and capture more margins that was lost to external subcontractors","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010644502","isVote":1,"tweetType":1,"viewCount":508,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9063930314,"gmtCreate":1651380885893,"gmtModify":1676534899169,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Berkshire may do well by investors but it is sad to see shareholders voting down ESG audit proposals... Like so long as it makes money, who cares? A bit like Bitcoin right?","listText":"Berkshire may do well by investors but it is sad to see shareholders voting down ESG audit proposals... Like so long as it makes money, who cares? A bit like Bitcoin right?","text":"Berkshire may do well by investors but it is sad to see shareholders voting down ESG audit proposals... Like so long as it makes money, who cares? A bit like Bitcoin right?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9063930314","repostId":"1102313596","repostType":2,"repost":{"id":"1102313596","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":1651364553,"share":"https://www.laohu8.com/m/news/1102313596?lang=&edition=full","pubTime":"2022-05-01 08:22","market":"us","language":"en","title":"Full Recap of Berkshire Hathaway’s Annual Shareholders Meeting Saturday","url":"https://stock-news.laohu8.com/highlight/detail?id=1102313596","media":"Tiger Newspress","summary":"Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron","content":"<html><head></head><body><p>Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron and doled out sharp criticism against speculation in the market.</p><p>Speaking at Berkshire Hathaway’s first in-person annual meeting since 2019, Buffett went so far as to say the market’s turned into a “gambling parlor.”</p><p>The Oracle of Omaha also commented on inflation, building on prior remarks he has made. Buffett had previously said that inflation “swindles” equity investors, but noted Saturday that it “swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody.”</p><p>Buffett and his longtime partner, Vice Chairman Charlie Munger, fielded shareholder questions on a broad range of issues for hours.</p><p>Buffett also said that Berkshire had been increasing its stake in Activision Blizzard as part of a merger arbitrage bet that Microsoft’s proposed deal to buy the video game company will close. Additionally, Berkshire revealed it had ramped up its stock bets by more than $51 billion during the first quarter amid the broader market’s downturn.</p><p>Buffett also stressed the importance of cash as “new forms of money” like bitcoin pop up.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill. “That’s what money is.”</p><p>Check out full recap below for more from the two investing legends.</p><h3><b>Berkshire bought more than $51 billion of stocks during Q1′s market rout</b></h3><p>Berkshire bought more than $51 billion worth of stocks during the first quarter’s market turmoil, including sizable investments in Chevron, HP and Occidental. The buying at the start of the year marked a sharp reversal from 2021 that saw $7.4 billion of net sales in stocks.</p><p>The S&amp;P 500 suffered a 5% sell-off in the first quarter, posting its worst quarter since the start of the pandemic. The rout continued in April with the equity benchmark down another 8.8% amid fears of surging inflation and rising rates.</p><h3><b>Buffett says Berkshire is “better than the banks”</b></h3><p>Warren Buffett has a long history of teasing investment bankers and their institutions – saying that they encourage mergers and spinoffs to reap fees, rather than improve companies.</p><p>Today, he noted that Berkshire Hathaway would always be cash-rich, and in times of need, would be “better than the banks” at extending credit lines to companies in need. While Buffett was talking, someone was shouting from the crowd in the CHI Center. It was unclear what the audience member was said.</p><p>“Was that a banker screaming?” Buffett joked.</p><h3><b>Buffett warns shareholders about “new forms of money” and the importance of cash</b></h3><p>Warren Buffett warned shareholders about “new forms of money” as he recalled the financial crisis of 2008 and said Berkshire Hathaway will “always have a lot of cash on hand.”</p><p>Buffett did not explicitly identify bitcoin or other cryptocurrencies, though he has made headlines for calling bitcoin “rat poison” in the past and has said it has no unique value. Charlie Munger has also spoken with hostility about it.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill.</p><p>“That’s what money is,” he added. “It may turn out that it becomes worth dramatically less at purchasing power. It can become almost like paper money as it has in many countries. But that when people tell you that they’re reaching [for] new forms of money, this is the only thing that will pay bills.”</p><h3><b>Berkshire put money to work after finding ‘little exciting’ in the market</b></h3><p>In his annual chairman letter to shareholders in February, Warren Buffett said there is “little that excites us” in the market. But soon after, he put Berkshire’s money to work.</p><p>Berkshire at the beginning of March revealed a big stake in oil giant Occidental Petroleum. At the beginning of April, Berkshire announced a major stake in tech hardware stock HP. Berkshire’s first-quarter filing revealed the company significantly increased its bet on Chevron.</p><p>“We found some things we prefer to owning Treasury bills,” quipped Berkshire vice chairman and Buffett’s right-hand man Charlie Munger.</p><h3><b>Buffett on his massive Occidental investment</b></h3><p>Buffett scooped up 14% of oil giant <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>, worth more than $7 billion, in two weeks during March.</p><p>He pointed out that the stake was even larger when accounting for the index fund providers who own a huge chunk of the company.</p><p>“That’s not investment. You’re not buying from [investors]. I find it just incredible. You couldn’t do that with Berkshire. ... Overwhelmingly, large companies in America, they became poker chips,” Buffett said.</p><p>“That enabled us, in a two-week period, to buy 14% of a business that’s been around for decades,” Buffett said. “Imagine trying to [buy] 14% of the farms in this country. 14% of the apartment houses. 14% of the auto dealerships, or just anything, when already 40% were locked up some other place. It defies anything Charlie and I have seen, and we’ve seen a lot.”</p><p>The legendary investor said that the short-term volatility earlier this year fueled by “gambling mentality” allowed him to find good long-term opportunities.</p><h3><b>Executives of Berkshire’s portfolio companies discuss impact of inflation</b></h3><p>Ahead of the shareholder meeting, the executives of several Berkshire portfolio companies told CNBC how inflation was hitting their businesses.</p><p>One of those executives was Jim Weber, CEO of Brooks Running.</p><p>Weber said it was tough to raise prices for Brooks’ products but that he thinks some of the cost pressures could cool soon.</p><p>“We don’t have unlimited pricing power, but we have taken selective price increases where we think we can. But our whole industry is so competitive. It’s a big market place. ... I do believe in the supply chain that costs are going to mediate a bit,” Weber said.</p><h3><b>Buffett wants Berkshire to be in a ‘position to operate’ should the economy stop</b></h3><p>Buffett said he wants Berkshire Hathaway to be in a “position to operate” should the economy stop.</p><p>“We want Berkshire Hathaway to be there and in a position to operate if the economy stops,” Buffett said. “And that can always happen, it can always happen.”</p><p>Buffett played a significant role during the Great Recession, providing capital during a pivotal moment to companies such as Bank of America and Goldman Sachs. The move drew criticism from those who disapproved of the support of big banks.</p><p>The billionaire investor made those remarks while also praising the Federal Reserve’s role during the 2008 financial crisis and the pandemic.</p><p>“The Federal Reserve has not gone,” Buffett said. He added the Fed will “do whatever is necessary. ... That’s what happened in 2008 and 2009, and that’s what happened in 2020, and you’ll hope it happens again next time.”</p><h3><b>Buffett says he has &#34;so much trouble&#34; finding businesses to invest in</b></h3><p>Warren Buffett said Berkshire Hathaway is open to investing in businesses anywhere, not just in the U.S.</p><p>“We have so much trouble finding good ideas that we can’t afford to ignore any,” Buffett said. “But they do have to be sizable.”</p><p>Buffett said while he does seek out new investments, he prefers to be approached proactively.</p><p>“We’ll pay any price, climb any hills to find businesses, but we actually prefer when they fall into our lap,” Buffett said.</p><h3><b>Munger says today’s stock market &#34;almost a mania of speculation&#34;</b></h3><p>Munger said today’s stock market has become “almost a mania of speculation.”</p><p>His comment alluded to both high frequency algorithmic trading and access new investors have that intensified during the pandemic.</p><p>“We have computers with algorithms trading against other computers,” Munger said. “We’ve got people who know nothing about stocks, being advised by stockbrokers who know even less.</p><p>“I understand the commission though,” Buffett joked.</p><p>After Munger likened the activity to a casino, where people play craps and roulette, Buffett expanded on the comparison.</p><p>“People and traders’ poker chips are pulling the handle,” he said. “They’ve got the system set up so that if you want to buy a three-day call on the stock you can do it and they make more money selling you calls than if you buy stock, so they teach you calls. Nobody’s going around selling calls on farms. That’s why markets do crazy things. Occasionally Berkshire gets a chance to do something. It’s not because we’re smarter. … we’re sane, and that’s the main requirement in this business.”</p><h3><b>Munger blasts calls for separate Berkshire chairman and CEO</b></h3><p>Berkshire Hathaway Vice Chairman Charlie Munger had some stern words in response to a proposal to oust CEO Warren Buffett as chairman.</p><p>“It’s the most ridiculous criticism I ever heard,” Munger said.</p><p>“It’s like Odysseus would come back from winning the battle of Troy and so forth and some guy would say, ‘I don’t like the way you were holding your spear when you won that battle,’” he added, referencing ancient Greek epic “The Odyssey.”</p><p>The California Public Employees’ Retirement System, or CalPERS, the biggest public pension fund in the U.S., earlier this month said it would vote in favor of a shareholder proposal to remove Buffett from his chairman role while remaining CEO. The proposal’s aim stems from concerns about corporate governance with one person holding dual roles.</p><p>“Some guy that’s never run any business, doesn’t know anything — I don’t think too much of this activity,” Munger said.</p><h3><b>Berkshire’s head of insurance explains how Geico has fallen behind rival Progressive</b></h3><p>Berkshire Hathaway Vice Chairman Ajit Jain, who runs all of the conglomerate’s insurance businesses, lamented about how Geico has fallen behind rival Progressive in the car insurance business.</p><p>“Each one have their plusses and minuses, but having said that, there’s no question that recently Progressive has done a much better job than Geico … both in terms of margins and in terms of growth,” Jain said.</p><p>“There are a number of causes for that, but I think the biggest culprit is as far as Geico is concerned … is telematics,” he added. Telematics refers to putting a device on a car that tracks driving patterns, in exchange for a lower insurance rate.</p><p>“Progressive has been on the telematics bandwagon for more than 10 years. Geico, until recently, wasn’t involved in telematics,” Jain said. “It’s a long journey, but the journey has started, and the initial results are promising. It will take a while, but my hope is that in the next year or two, Geico will be positioned to catch up with Progressive.”</p><p>Jain’s comments came after Berkshire reported earlier in the day a massive earnings drop in its insurance underwriting business for the first quarter.</p><h3><b>Buffett says he has never been &#34;good at timing&#34;</b></h3><p>Warren Buffett said he has never figured out how to time the markets.</p><p>“We haven’t the faintest idea what the stock market was gonna do when it opens on Monday,” Buffett said in response to an audience question.</p><p>“I don’t think we’ve ever made a decision where either one of us has either said or been thinking we should buy or sell based on what the market is going to do, or for that matter, on what the economy’s going to do. We don’t know,” he continued.</p><p>The Oracle of Omaha said he often gets misplaced credit for the stock winners he’s picked over the years, pointing out he’s also missed out on some big opportunities as well. Buffett said he failed to make some big purchases in the early days of the pandemic. In a single day in March 2020, the Dow Jones Industrial Average dropped 12.9%,its worst day since 1987.</p><p>Instead, Buffett adheres to a value investing strategy, or picking stocks with attractive valuations, instead of focusing on the vagaries of the stock market.</p><p>“We have not been good at timing,” Buffett said. “We’ve been reasonably good at figuring out when we were getting enough for our money. And we had no idea when we bought anything, but we always hoped it would the down for a while so we could buy more. ... I mean, that stuff, you could you could learn in fourth grade.”</p><h3><b>Munger says &#34;just say no&#34; to putting bitcoin in your retirement account</b></h3><p>Charlie Munger is still down on bitcoin.</p><p>He responded to an audience member question asking what single stock they would invest in given how high inflation has been rising.</p><p>The Berkshire executives didn’t say where they would put their money, but Munger was clear about where he wouldn’t invest: bitcoin.</p><p>“When you have your own retirement account, and your friendly adviser suggests you put all the money in into bitcoin, just say no,” he said.</p><p>Munger’s answer was a thinly veiled reference tobig news from Fidelity this week, which will now allow employees to putbitcoininto their employee-sponsored retirement accounts.</p><p>Munger and Buffett have both long been critics of bitcoin, which has become increasingly attractive to certain investors for its potential as an inflation hedge.</p><h3><b>Buffett describes his start to investing when he was 11 years old</b></h3><p>A trip to the New York Stock Exchange when he was 9 years old was inspiring for Warren Buffett, who is known to have started investing when he was 11 years old.</p><p>“I went to the New York Stock Exchange, I was in awe of it,” Buffett said. “I got very interested in technical analysis and charted stocks and did all kinds of crazy things, did hours and hours and hours and saved money to buy other stocks and tried shorting. I just did everything.”</p><p>The investor bought a stock at 11 after spending his childhood reading books on the subject from the library and in his father’s office. He said his approach to investing later changed completely when he was 19 or 20 years old after reading one particular book passage in what he said must have been Benjamin Graham’s “The Intelligent Investor.”</p><p>“I looked at this book and I saw one paragraph and it told me I’ve been doing everything wrong. I just had the whole approach wrong,” Buffett said.</p><h3><b>Buffett wants to make it clear he’s not the only one picking stocks at Berkshire Hathaway</b></h3><p>Warren Buffett wants to make it clear that he’s not the only one at Berkshire Hathaway picking stocks.</p><p>“I see headlines in papers just time after time after time that say, ‘Buffett’s buying such and such,’” Buffett said. “I’m not buying such and such. Berkshire Hathaway is buying.”</p><p>The investor said a stock pick may have been made by other finance professionals in his organization without Buffett’s ever having heard of it.</p><p>“But the headline will attract more people if it says Buffett buying this than if it says Berkshire Hathaway, and we don’t know whether it is the people that work for him, the headline is designed to bring people into the story,” Buffett said.</p><p>“The easiest thing to do is basically shut up and not have a bunch of people facing consequences they didn’t ask for in the first place,” he said.</p><h3><b>Buffett says inflation ‘swindles almost everybody’</b></h3><p>When asked about his previous comments that inflation “swindles” equity investors, Buffett said the damage from rising prices was much broader than that.</p><p>“Inflation swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody,” he said.</p><p>Buffett pointed out that inflation also raises the amount of capital that companies need to have and that it isn’t as simple as raising prices to maintain inflation-adjusted profits.</p><p>The Berkshire Hathaway CEO cautioned against listening to people who claim to be able to predict the path of inflation.</p><p>“The question is how much ... and the answer is nobody knows,” Buffett said.</p><p>Buffett reiterated that the best protection against the inflation is investing in your own skills.</p><h3><b>Buffett says Berkshire now owns 9.5% of Activision Blizzard</b></h3><p>Warren Buffett said Berkshire Hathaway has been increasing its stake inActivision Blizzardin a merger arbitrage bet thatMicrosoft’sproposed acquisition of the video game company will close.</p><p>In the fourth quarter of 2021, Berkshire first purchased about $1 billion worth of Activision Blizzard stock, in a bet the company was undervalued. Buffett has saidBerkshire “had no prior knowledge”of Microsoft’s plan to buy the company when Berkshire made its initial investment.</p><p>In January, Microsoftannounced intentions to buy Activisionfor $95 per share. Its stock closed at $75.60 per share on Friday.</p><p>Buffett said he has been buying more shares of Activision since the deal was announced as the stock is trading way below Microsoft’s offer. Buying at these levels will yield a bigger return if the deal closes.</p><p>Buffett said Berkshire now owns about 9.5% of Activision. “If we went over 10%, we would file a report,” he said.</p><p>“If the deal goes through, we make some money, and if the deal doesn’t go through, who knows what happens,” Buffett said.</p><p>“We don’t know what the Justice Department will do, we don’t know what the E.U. will do, we don’t know what 30 other jurisdictions will do. One thing we do know is that Microsoft has the money,” Buffett added.</p><h3><b>Buffett: ‘I look at Berkshire as a painting’</b></h3><p>The possibilities for Berkshire Hathaway are endless in the eyes of Warren Buffett, who likened the company to a work of art.</p><p>“I look at Berkshire as a painting,” Buffett said. “It’s unlimited in size; it’s got an ever-expanding canvas, and I get to paint what I want.”</p><p>Buffett did acknowledge that he doesn’t know much about art, but added that “other people look at paintings and they see something, then they’ll see something additional later on, and they really have a different sort of perception in relation to that. To me, Berkshire is a painting, and I get to paint.”</p><p>“It’s in my head, and I see different things in it as I go along,” Buffett said. “It’s satisfying.”</p><h3><b>Buffett calls Jerome Powell a hero</b></h3><p>In addressing a question about inflation, Buffett talked about the massive stimulus during the pandemic as a key reason for the rising prices now.</p><p>“You print loads of money, and money is going to be worth less,” Buffett said.</p><p>However, he did not criticize the Federal Reserve for its actions to boost money supply and stabilize markets during the health crisis.</p><p>“In my book,Jay Powellis a hero. It’s very simple. He did what he had to do,” Buffett said.</p><h3><b>Buffett says people are becoming more tribal</b></h3><p>Warren Buffett said people are becoming more tribal.</p><p>“My general assumption — there’s no way to prove it — but essentially, people are now behaving somewhat more tribal than they have for a long time,” Buffett said.</p><p>“It’s fun to participate in, but it can get very dangerous when people say two plus two is five and the other says two plus two is three, you know, and they’re gonna give you those answers,” he continued.</p><p>The investor said the country seems as tribal as it appeared during the 1930s when public sentiment was split in the U.S. around Franklin Roosevelt. Buffett said he was raised in a household where he and his siblings weren’t served dessert until they “said something nasty” about Roosevelt.</p><p>“I don’t think it’s a good development for society,” Buffett said.</p><h3><b>Buffett says he won’t buy bitcoin because ‘it doesn’t produce anything’</b></h3><p>Warren Buffettreiterated his skepticism of bitcoin on Saturday, saying he would be unwilling to buy it for even extremely low prices because it produces nothing of value.</p><p>“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,” Buffett said. “It’s got a magic to it and people have attached magics to lots of things.”</p><p>Buffett listed farmland, apartment buildings — and even art — as assets that had more tangible value than bitcoin.</p><p>“Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted. You can come up with all kinds of things. We can put up Berkshire coins, put up Berkshire money but in the end, this is money,” he said, holding up a $20 bill. “And there’s no reason in the world why the United States government … is going to let Berkshire money replace theirs.”</p><h3><b>Berkshire’s business meeting concludes with shareholder votes</b></h3><p>Berkshire’s formal business meeting followed nearly five hours of Q&amp;A with Warren Buffett and Charlie Munger. Shareholders voted on a number of proposals at the meeting.</p><p>The proposal that garnered most attention was from the non-profit National Legal and Policy Center. It calls for the company to strip Buffett of his chairman role. Shareholders voted down the proposal backed by CALPERS, the largest U.S. public pension fund.</p><p>Brunel Pension requested the board of Berkshire to publish an annual assessment addressing how the company manages physical and transitional climate-related risks. The number of votes against the motion outnumbered the ones for it.</p><p>One shareholder also took issue with Berkshire’s climate change initiative. The proposal called for Berkshire to issue a report addressing if and how it intends to measure, disclose, and reduce the GHG emissions associated in alignment with the Paris Agreement’s 1.5°C goal, requiring net zero emissions. Shareholders voted it down.</p><p>The last proposal asked Berkshire to report to shareholders on the outcomes of their diversity, equity and inclusion efforts by publishing quantitative data on workforce composition and recruitment, retention, and promotion rates of employees by gender, race, and ethnicity. The motion also failed.</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>Full Recap of Berkshire Hathaway’s Annual Shareholders Meeting Saturday</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\">\nFull Recap of Berkshire Hathaway’s Annual Shareholders Meeting Saturday\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\">2022-05-01 08:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron and doled out sharp criticism against speculation in the market.</p><p>Speaking at Berkshire Hathaway’s first in-person annual meeting since 2019, Buffett went so far as to say the market’s turned into a “gambling parlor.”</p><p>The Oracle of Omaha also commented on inflation, building on prior remarks he has made. Buffett had previously said that inflation “swindles” equity investors, but noted Saturday that it “swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody.”</p><p>Buffett and his longtime partner, Vice Chairman Charlie Munger, fielded shareholder questions on a broad range of issues for hours.</p><p>Buffett also said that Berkshire had been increasing its stake in Activision Blizzard as part of a merger arbitrage bet that Microsoft’s proposed deal to buy the video game company will close. Additionally, Berkshire revealed it had ramped up its stock bets by more than $51 billion during the first quarter amid the broader market’s downturn.</p><p>Buffett also stressed the importance of cash as “new forms of money” like bitcoin pop up.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill. “That’s what money is.”</p><p>Check out full recap below for more from the two investing legends.</p><h3><b>Berkshire bought more than $51 billion of stocks during Q1′s market rout</b></h3><p>Berkshire bought more than $51 billion worth of stocks during the first quarter’s market turmoil, including sizable investments in Chevron, HP and Occidental. The buying at the start of the year marked a sharp reversal from 2021 that saw $7.4 billion of net sales in stocks.</p><p>The S&amp;P 500 suffered a 5% sell-off in the first quarter, posting its worst quarter since the start of the pandemic. The rout continued in April with the equity benchmark down another 8.8% amid fears of surging inflation and rising rates.</p><h3><b>Buffett says Berkshire is “better than the banks”</b></h3><p>Warren Buffett has a long history of teasing investment bankers and their institutions – saying that they encourage mergers and spinoffs to reap fees, rather than improve companies.</p><p>Today, he noted that Berkshire Hathaway would always be cash-rich, and in times of need, would be “better than the banks” at extending credit lines to companies in need. While Buffett was talking, someone was shouting from the crowd in the CHI Center. It was unclear what the audience member was said.</p><p>“Was that a banker screaming?” Buffett joked.</p><h3><b>Buffett warns shareholders about “new forms of money” and the importance of cash</b></h3><p>Warren Buffett warned shareholders about “new forms of money” as he recalled the financial crisis of 2008 and said Berkshire Hathaway will “always have a lot of cash on hand.”</p><p>Buffett did not explicitly identify bitcoin or other cryptocurrencies, though he has made headlines for calling bitcoin “rat poison” in the past and has said it has no unique value. Charlie Munger has also spoken with hostility about it.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill.</p><p>“That’s what money is,” he added. “It may turn out that it becomes worth dramatically less at purchasing power. It can become almost like paper money as it has in many countries. But that when people tell you that they’re reaching [for] new forms of money, this is the only thing that will pay bills.”</p><h3><b>Berkshire put money to work after finding ‘little exciting’ in the market</b></h3><p>In his annual chairman letter to shareholders in February, Warren Buffett said there is “little that excites us” in the market. But soon after, he put Berkshire’s money to work.</p><p>Berkshire at the beginning of March revealed a big stake in oil giant Occidental Petroleum. At the beginning of April, Berkshire announced a major stake in tech hardware stock HP. Berkshire’s first-quarter filing revealed the company significantly increased its bet on Chevron.</p><p>“We found some things we prefer to owning Treasury bills,” quipped Berkshire vice chairman and Buffett’s right-hand man Charlie Munger.</p><h3><b>Buffett on his massive Occidental investment</b></h3><p>Buffett scooped up 14% of oil giant <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>, worth more than $7 billion, in two weeks during March.</p><p>He pointed out that the stake was even larger when accounting for the index fund providers who own a huge chunk of the company.</p><p>“That’s not investment. You’re not buying from [investors]. I find it just incredible. You couldn’t do that with Berkshire. ... Overwhelmingly, large companies in America, they became poker chips,” Buffett said.</p><p>“That enabled us, in a two-week period, to buy 14% of a business that’s been around for decades,” Buffett said. “Imagine trying to [buy] 14% of the farms in this country. 14% of the apartment houses. 14% of the auto dealerships, or just anything, when already 40% were locked up some other place. It defies anything Charlie and I have seen, and we’ve seen a lot.”</p><p>The legendary investor said that the short-term volatility earlier this year fueled by “gambling mentality” allowed him to find good long-term opportunities.</p><h3><b>Executives of Berkshire’s portfolio companies discuss impact of inflation</b></h3><p>Ahead of the shareholder meeting, the executives of several Berkshire portfolio companies told CNBC how inflation was hitting their businesses.</p><p>One of those executives was Jim Weber, CEO of Brooks Running.</p><p>Weber said it was tough to raise prices for Brooks’ products but that he thinks some of the cost pressures could cool soon.</p><p>“We don’t have unlimited pricing power, but we have taken selective price increases where we think we can. But our whole industry is so competitive. It’s a big market place. ... I do believe in the supply chain that costs are going to mediate a bit,” Weber said.</p><h3><b>Buffett wants Berkshire to be in a ‘position to operate’ should the economy stop</b></h3><p>Buffett said he wants Berkshire Hathaway to be in a “position to operate” should the economy stop.</p><p>“We want Berkshire Hathaway to be there and in a position to operate if the economy stops,” Buffett said. “And that can always happen, it can always happen.”</p><p>Buffett played a significant role during the Great Recession, providing capital during a pivotal moment to companies such as Bank of America and Goldman Sachs. The move drew criticism from those who disapproved of the support of big banks.</p><p>The billionaire investor made those remarks while also praising the Federal Reserve’s role during the 2008 financial crisis and the pandemic.</p><p>“The Federal Reserve has not gone,” Buffett said. He added the Fed will “do whatever is necessary. ... That’s what happened in 2008 and 2009, and that’s what happened in 2020, and you’ll hope it happens again next time.”</p><h3><b>Buffett says he has &#34;so much trouble&#34; finding businesses to invest in</b></h3><p>Warren Buffett said Berkshire Hathaway is open to investing in businesses anywhere, not just in the U.S.</p><p>“We have so much trouble finding good ideas that we can’t afford to ignore any,” Buffett said. “But they do have to be sizable.”</p><p>Buffett said while he does seek out new investments, he prefers to be approached proactively.</p><p>“We’ll pay any price, climb any hills to find businesses, but we actually prefer when they fall into our lap,” Buffett said.</p><h3><b>Munger says today’s stock market &#34;almost a mania of speculation&#34;</b></h3><p>Munger said today’s stock market has become “almost a mania of speculation.”</p><p>His comment alluded to both high frequency algorithmic trading and access new investors have that intensified during the pandemic.</p><p>“We have computers with algorithms trading against other computers,” Munger said. “We’ve got people who know nothing about stocks, being advised by stockbrokers who know even less.</p><p>“I understand the commission though,” Buffett joked.</p><p>After Munger likened the activity to a casino, where people play craps and roulette, Buffett expanded on the comparison.</p><p>“People and traders’ poker chips are pulling the handle,” he said. “They’ve got the system set up so that if you want to buy a three-day call on the stock you can do it and they make more money selling you calls than if you buy stock, so they teach you calls. Nobody’s going around selling calls on farms. That’s why markets do crazy things. Occasionally Berkshire gets a chance to do something. It’s not because we’re smarter. … we’re sane, and that’s the main requirement in this business.”</p><h3><b>Munger blasts calls for separate Berkshire chairman and CEO</b></h3><p>Berkshire Hathaway Vice Chairman Charlie Munger had some stern words in response to a proposal to oust CEO Warren Buffett as chairman.</p><p>“It’s the most ridiculous criticism I ever heard,” Munger said.</p><p>“It’s like Odysseus would come back from winning the battle of Troy and so forth and some guy would say, ‘I don’t like the way you were holding your spear when you won that battle,’” he added, referencing ancient Greek epic “The Odyssey.”</p><p>The California Public Employees’ Retirement System, or CalPERS, the biggest public pension fund in the U.S., earlier this month said it would vote in favor of a shareholder proposal to remove Buffett from his chairman role while remaining CEO. The proposal’s aim stems from concerns about corporate governance with one person holding dual roles.</p><p>“Some guy that’s never run any business, doesn’t know anything — I don’t think too much of this activity,” Munger said.</p><h3><b>Berkshire’s head of insurance explains how Geico has fallen behind rival Progressive</b></h3><p>Berkshire Hathaway Vice Chairman Ajit Jain, who runs all of the conglomerate’s insurance businesses, lamented about how Geico has fallen behind rival Progressive in the car insurance business.</p><p>“Each one have their plusses and minuses, but having said that, there’s no question that recently Progressive has done a much better job than Geico … both in terms of margins and in terms of growth,” Jain said.</p><p>“There are a number of causes for that, but I think the biggest culprit is as far as Geico is concerned … is telematics,” he added. Telematics refers to putting a device on a car that tracks driving patterns, in exchange for a lower insurance rate.</p><p>“Progressive has been on the telematics bandwagon for more than 10 years. Geico, until recently, wasn’t involved in telematics,” Jain said. “It’s a long journey, but the journey has started, and the initial results are promising. It will take a while, but my hope is that in the next year or two, Geico will be positioned to catch up with Progressive.”</p><p>Jain’s comments came after Berkshire reported earlier in the day a massive earnings drop in its insurance underwriting business for the first quarter.</p><h3><b>Buffett says he has never been &#34;good at timing&#34;</b></h3><p>Warren Buffett said he has never figured out how to time the markets.</p><p>“We haven’t the faintest idea what the stock market was gonna do when it opens on Monday,” Buffett said in response to an audience question.</p><p>“I don’t think we’ve ever made a decision where either one of us has either said or been thinking we should buy or sell based on what the market is going to do, or for that matter, on what the economy’s going to do. We don’t know,” he continued.</p><p>The Oracle of Omaha said he often gets misplaced credit for the stock winners he’s picked over the years, pointing out he’s also missed out on some big opportunities as well. Buffett said he failed to make some big purchases in the early days of the pandemic. In a single day in March 2020, the Dow Jones Industrial Average dropped 12.9%,its worst day since 1987.</p><p>Instead, Buffett adheres to a value investing strategy, or picking stocks with attractive valuations, instead of focusing on the vagaries of the stock market.</p><p>“We have not been good at timing,” Buffett said. “We’ve been reasonably good at figuring out when we were getting enough for our money. And we had no idea when we bought anything, but we always hoped it would the down for a while so we could buy more. ... I mean, that stuff, you could you could learn in fourth grade.”</p><h3><b>Munger says &#34;just say no&#34; to putting bitcoin in your retirement account</b></h3><p>Charlie Munger is still down on bitcoin.</p><p>He responded to an audience member question asking what single stock they would invest in given how high inflation has been rising.</p><p>The Berkshire executives didn’t say where they would put their money, but Munger was clear about where he wouldn’t invest: bitcoin.</p><p>“When you have your own retirement account, and your friendly adviser suggests you put all the money in into bitcoin, just say no,” he said.</p><p>Munger’s answer was a thinly veiled reference tobig news from Fidelity this week, which will now allow employees to putbitcoininto their employee-sponsored retirement accounts.</p><p>Munger and Buffett have both long been critics of bitcoin, which has become increasingly attractive to certain investors for its potential as an inflation hedge.</p><h3><b>Buffett describes his start to investing when he was 11 years old</b></h3><p>A trip to the New York Stock Exchange when he was 9 years old was inspiring for Warren Buffett, who is known to have started investing when he was 11 years old.</p><p>“I went to the New York Stock Exchange, I was in awe of it,” Buffett said. “I got very interested in technical analysis and charted stocks and did all kinds of crazy things, did hours and hours and hours and saved money to buy other stocks and tried shorting. I just did everything.”</p><p>The investor bought a stock at 11 after spending his childhood reading books on the subject from the library and in his father’s office. He said his approach to investing later changed completely when he was 19 or 20 years old after reading one particular book passage in what he said must have been Benjamin Graham’s “The Intelligent Investor.”</p><p>“I looked at this book and I saw one paragraph and it told me I’ve been doing everything wrong. I just had the whole approach wrong,” Buffett said.</p><h3><b>Buffett wants to make it clear he’s not the only one picking stocks at Berkshire Hathaway</b></h3><p>Warren Buffett wants to make it clear that he’s not the only one at Berkshire Hathaway picking stocks.</p><p>“I see headlines in papers just time after time after time that say, ‘Buffett’s buying such and such,’” Buffett said. “I’m not buying such and such. Berkshire Hathaway is buying.”</p><p>The investor said a stock pick may have been made by other finance professionals in his organization without Buffett’s ever having heard of it.</p><p>“But the headline will attract more people if it says Buffett buying this than if it says Berkshire Hathaway, and we don’t know whether it is the people that work for him, the headline is designed to bring people into the story,” Buffett said.</p><p>“The easiest thing to do is basically shut up and not have a bunch of people facing consequences they didn’t ask for in the first place,” he said.</p><h3><b>Buffett says inflation ‘swindles almost everybody’</b></h3><p>When asked about his previous comments that inflation “swindles” equity investors, Buffett said the damage from rising prices was much broader than that.</p><p>“Inflation swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody,” he said.</p><p>Buffett pointed out that inflation also raises the amount of capital that companies need to have and that it isn’t as simple as raising prices to maintain inflation-adjusted profits.</p><p>The Berkshire Hathaway CEO cautioned against listening to people who claim to be able to predict the path of inflation.</p><p>“The question is how much ... and the answer is nobody knows,” Buffett said.</p><p>Buffett reiterated that the best protection against the inflation is investing in your own skills.</p><h3><b>Buffett says Berkshire now owns 9.5% of Activision Blizzard</b></h3><p>Warren Buffett said Berkshire Hathaway has been increasing its stake inActivision Blizzardin a merger arbitrage bet thatMicrosoft’sproposed acquisition of the video game company will close.</p><p>In the fourth quarter of 2021, Berkshire first purchased about $1 billion worth of Activision Blizzard stock, in a bet the company was undervalued. Buffett has saidBerkshire “had no prior knowledge”of Microsoft’s plan to buy the company when Berkshire made its initial investment.</p><p>In January, Microsoftannounced intentions to buy Activisionfor $95 per share. Its stock closed at $75.60 per share on Friday.</p><p>Buffett said he has been buying more shares of Activision since the deal was announced as the stock is trading way below Microsoft’s offer. Buying at these levels will yield a bigger return if the deal closes.</p><p>Buffett said Berkshire now owns about 9.5% of Activision. “If we went over 10%, we would file a report,” he said.</p><p>“If the deal goes through, we make some money, and if the deal doesn’t go through, who knows what happens,” Buffett said.</p><p>“We don’t know what the Justice Department will do, we don’t know what the E.U. will do, we don’t know what 30 other jurisdictions will do. One thing we do know is that Microsoft has the money,” Buffett added.</p><h3><b>Buffett: ‘I look at Berkshire as a painting’</b></h3><p>The possibilities for Berkshire Hathaway are endless in the eyes of Warren Buffett, who likened the company to a work of art.</p><p>“I look at Berkshire as a painting,” Buffett said. “It’s unlimited in size; it’s got an ever-expanding canvas, and I get to paint what I want.”</p><p>Buffett did acknowledge that he doesn’t know much about art, but added that “other people look at paintings and they see something, then they’ll see something additional later on, and they really have a different sort of perception in relation to that. To me, Berkshire is a painting, and I get to paint.”</p><p>“It’s in my head, and I see different things in it as I go along,” Buffett said. “It’s satisfying.”</p><h3><b>Buffett calls Jerome Powell a hero</b></h3><p>In addressing a question about inflation, Buffett talked about the massive stimulus during the pandemic as a key reason for the rising prices now.</p><p>“You print loads of money, and money is going to be worth less,” Buffett said.</p><p>However, he did not criticize the Federal Reserve for its actions to boost money supply and stabilize markets during the health crisis.</p><p>“In my book,Jay Powellis a hero. It’s very simple. He did what he had to do,” Buffett said.</p><h3><b>Buffett says people are becoming more tribal</b></h3><p>Warren Buffett said people are becoming more tribal.</p><p>“My general assumption — there’s no way to prove it — but essentially, people are now behaving somewhat more tribal than they have for a long time,” Buffett said.</p><p>“It’s fun to participate in, but it can get very dangerous when people say two plus two is five and the other says two plus two is three, you know, and they’re gonna give you those answers,” he continued.</p><p>The investor said the country seems as tribal as it appeared during the 1930s when public sentiment was split in the U.S. around Franklin Roosevelt. Buffett said he was raised in a household where he and his siblings weren’t served dessert until they “said something nasty” about Roosevelt.</p><p>“I don’t think it’s a good development for society,” Buffett said.</p><h3><b>Buffett says he won’t buy bitcoin because ‘it doesn’t produce anything’</b></h3><p>Warren Buffettreiterated his skepticism of bitcoin on Saturday, saying he would be unwilling to buy it for even extremely low prices because it produces nothing of value.</p><p>“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,” Buffett said. “It’s got a magic to it and people have attached magics to lots of things.”</p><p>Buffett listed farmland, apartment buildings — and even art — as assets that had more tangible value than bitcoin.</p><p>“Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted. You can come up with all kinds of things. We can put up Berkshire coins, put up Berkshire money but in the end, this is money,” he said, holding up a $20 bill. “And there’s no reason in the world why the United States government … is going to let Berkshire money replace theirs.”</p><h3><b>Berkshire’s business meeting concludes with shareholder votes</b></h3><p>Berkshire’s formal business meeting followed nearly five hours of Q&amp;A with Warren Buffett and Charlie Munger. Shareholders voted on a number of proposals at the meeting.</p><p>The proposal that garnered most attention was from the non-profit National Legal and Policy Center. It calls for the company to strip Buffett of his chairman role. Shareholders voted down the proposal backed by CALPERS, the largest U.S. public pension fund.</p><p>Brunel Pension requested the board of Berkshire to publish an annual assessment addressing how the company manages physical and transitional climate-related risks. The number of votes against the motion outnumbered the ones for it.</p><p>One shareholder also took issue with Berkshire’s climate change initiative. The proposal called for Berkshire to issue a report addressing if and how it intends to measure, disclose, and reduce the GHG emissions associated in alignment with the Paris Agreement’s 1.5°C goal, requiring net zero emissions. Shareholders voted it down.</p><p>The last proposal asked Berkshire to report to shareholders on the outcomes of their diversity, equity and inclusion efforts by publishing quantitative data on workforce composition and recruitment, retention, and promotion rates of employees by gender, race, and ethnicity. The motion also failed.</p><p></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":"1102313596","content_text":"Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron and doled out sharp criticism against speculation in the market.Speaking at Berkshire Hathaway’s first in-person annual meeting since 2019, Buffett went so far as to say the market’s turned into a “gambling parlor.”The Oracle of Omaha also commented on inflation, building on prior remarks he has made. Buffett had previously said that inflation “swindles” equity investors, but noted Saturday that it “swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody.”Buffett and his longtime partner, Vice Chairman Charlie Munger, fielded shareholder questions on a broad range of issues for hours.Buffett also said that Berkshire had been increasing its stake in Activision Blizzard as part of a merger arbitrage bet that Microsoft’s proposed deal to buy the video game company will close. Additionally, Berkshire revealed it had ramped up its stock bets by more than $51 billion during the first quarter amid the broader market’s downturn.Buffett also stressed the importance of cash as “new forms of money” like bitcoin pop up.“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill. “That’s what money is.”Check out full recap below for more from the two investing legends.Berkshire bought more than $51 billion of stocks during Q1′s market routBerkshire bought more than $51 billion worth of stocks during the first quarter’s market turmoil, including sizable investments in Chevron, HP and Occidental. The buying at the start of the year marked a sharp reversal from 2021 that saw $7.4 billion of net sales in stocks.The S&P 500 suffered a 5% sell-off in the first quarter, posting its worst quarter since the start of the pandemic. The rout continued in April with the equity benchmark down another 8.8% amid fears of surging inflation and rising rates.Buffett says Berkshire is “better than the banks”Warren Buffett has a long history of teasing investment bankers and their institutions – saying that they encourage mergers and spinoffs to reap fees, rather than improve companies.Today, he noted that Berkshire Hathaway would always be cash-rich, and in times of need, would be “better than the banks” at extending credit lines to companies in need. While Buffett was talking, someone was shouting from the crowd in the CHI Center. It was unclear what the audience member was said.“Was that a banker screaming?” Buffett joked.Buffett warns shareholders about “new forms of money” and the importance of cashWarren Buffett warned shareholders about “new forms of money” as he recalled the financial crisis of 2008 and said Berkshire Hathaway will “always have a lot of cash on hand.”Buffett did not explicitly identify bitcoin or other cryptocurrencies, though he has made headlines for calling bitcoin “rat poison” in the past and has said it has no unique value. Charlie Munger has also spoken with hostility about it.“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill.“That’s what money is,” he added. “It may turn out that it becomes worth dramatically less at purchasing power. It can become almost like paper money as it has in many countries. But that when people tell you that they’re reaching [for] new forms of money, this is the only thing that will pay bills.”Berkshire put money to work after finding ‘little exciting’ in the marketIn his annual chairman letter to shareholders in February, Warren Buffett said there is “little that excites us” in the market. But soon after, he put Berkshire’s money to work.Berkshire at the beginning of March revealed a big stake in oil giant Occidental Petroleum. At the beginning of April, Berkshire announced a major stake in tech hardware stock HP. Berkshire’s first-quarter filing revealed the company significantly increased its bet on Chevron.“We found some things we prefer to owning Treasury bills,” quipped Berkshire vice chairman and Buffett’s right-hand man Charlie Munger.Buffett on his massive Occidental investmentBuffett scooped up 14% of oil giant Occidental Petroleum, worth more than $7 billion, in two weeks during March.He pointed out that the stake was even larger when accounting for the index fund providers who own a huge chunk of the company.“That’s not investment. You’re not buying from [investors]. I find it just incredible. You couldn’t do that with Berkshire. ... Overwhelmingly, large companies in America, they became poker chips,” Buffett said.“That enabled us, in a two-week period, to buy 14% of a business that’s been around for decades,” Buffett said. “Imagine trying to [buy] 14% of the farms in this country. 14% of the apartment houses. 14% of the auto dealerships, or just anything, when already 40% were locked up some other place. It defies anything Charlie and I have seen, and we’ve seen a lot.”The legendary investor said that the short-term volatility earlier this year fueled by “gambling mentality” allowed him to find good long-term opportunities.Executives of Berkshire’s portfolio companies discuss impact of inflationAhead of the shareholder meeting, the executives of several Berkshire portfolio companies told CNBC how inflation was hitting their businesses.One of those executives was Jim Weber, CEO of Brooks Running.Weber said it was tough to raise prices for Brooks’ products but that he thinks some of the cost pressures could cool soon.“We don’t have unlimited pricing power, but we have taken selective price increases where we think we can. But our whole industry is so competitive. It’s a big market place. ... I do believe in the supply chain that costs are going to mediate a bit,” Weber said.Buffett wants Berkshire to be in a ‘position to operate’ should the economy stopBuffett said he wants Berkshire Hathaway to be in a “position to operate” should the economy stop.“We want Berkshire Hathaway to be there and in a position to operate if the economy stops,” Buffett said. “And that can always happen, it can always happen.”Buffett played a significant role during the Great Recession, providing capital during a pivotal moment to companies such as Bank of America and Goldman Sachs. The move drew criticism from those who disapproved of the support of big banks.The billionaire investor made those remarks while also praising the Federal Reserve’s role during the 2008 financial crisis and the pandemic.“The Federal Reserve has not gone,” Buffett said. He added the Fed will “do whatever is necessary. ... That’s what happened in 2008 and 2009, and that’s what happened in 2020, and you’ll hope it happens again next time.”Buffett says he has \"so much trouble\" finding businesses to invest inWarren Buffett said Berkshire Hathaway is open to investing in businesses anywhere, not just in the U.S.“We have so much trouble finding good ideas that we can’t afford to ignore any,” Buffett said. “But they do have to be sizable.”Buffett said while he does seek out new investments, he prefers to be approached proactively.“We’ll pay any price, climb any hills to find businesses, but we actually prefer when they fall into our lap,” Buffett said.Munger says today’s stock market \"almost a mania of speculation\"Munger said today’s stock market has become “almost a mania of speculation.”His comment alluded to both high frequency algorithmic trading and access new investors have that intensified during the pandemic.“We have computers with algorithms trading against other computers,” Munger said. “We’ve got people who know nothing about stocks, being advised by stockbrokers who know even less.“I understand the commission though,” Buffett joked.After Munger likened the activity to a casino, where people play craps and roulette, Buffett expanded on the comparison.“People and traders’ poker chips are pulling the handle,” he said. “They’ve got the system set up so that if you want to buy a three-day call on the stock you can do it and they make more money selling you calls than if you buy stock, so they teach you calls. Nobody’s going around selling calls on farms. That’s why markets do crazy things. Occasionally Berkshire gets a chance to do something. It’s not because we’re smarter. … we’re sane, and that’s the main requirement in this business.”Munger blasts calls for separate Berkshire chairman and CEOBerkshire Hathaway Vice Chairman Charlie Munger had some stern words in response to a proposal to oust CEO Warren Buffett as chairman.“It’s the most ridiculous criticism I ever heard,” Munger said.“It’s like Odysseus would come back from winning the battle of Troy and so forth and some guy would say, ‘I don’t like the way you were holding your spear when you won that battle,’” he added, referencing ancient Greek epic “The Odyssey.”The California Public Employees’ Retirement System, or CalPERS, the biggest public pension fund in the U.S., earlier this month said it would vote in favor of a shareholder proposal to remove Buffett from his chairman role while remaining CEO. The proposal’s aim stems from concerns about corporate governance with one person holding dual roles.“Some guy that’s never run any business, doesn’t know anything — I don’t think too much of this activity,” Munger said.Berkshire’s head of insurance explains how Geico has fallen behind rival ProgressiveBerkshire Hathaway Vice Chairman Ajit Jain, who runs all of the conglomerate’s insurance businesses, lamented about how Geico has fallen behind rival Progressive in the car insurance business.“Each one have their plusses and minuses, but having said that, there’s no question that recently Progressive has done a much better job than Geico … both in terms of margins and in terms of growth,” Jain said.“There are a number of causes for that, but I think the biggest culprit is as far as Geico is concerned … is telematics,” he added. Telematics refers to putting a device on a car that tracks driving patterns, in exchange for a lower insurance rate.“Progressive has been on the telematics bandwagon for more than 10 years. Geico, until recently, wasn’t involved in telematics,” Jain said. “It’s a long journey, but the journey has started, and the initial results are promising. It will take a while, but my hope is that in the next year or two, Geico will be positioned to catch up with Progressive.”Jain’s comments came after Berkshire reported earlier in the day a massive earnings drop in its insurance underwriting business for the first quarter.Buffett says he has never been \"good at timing\"Warren Buffett said he has never figured out how to time the markets.“We haven’t the faintest idea what the stock market was gonna do when it opens on Monday,” Buffett said in response to an audience question.“I don’t think we’ve ever made a decision where either one of us has either said or been thinking we should buy or sell based on what the market is going to do, or for that matter, on what the economy’s going to do. We don’t know,” he continued.The Oracle of Omaha said he often gets misplaced credit for the stock winners he’s picked over the years, pointing out he’s also missed out on some big opportunities as well. Buffett said he failed to make some big purchases in the early days of the pandemic. In a single day in March 2020, the Dow Jones Industrial Average dropped 12.9%,its worst day since 1987.Instead, Buffett adheres to a value investing strategy, or picking stocks with attractive valuations, instead of focusing on the vagaries of the stock market.“We have not been good at timing,” Buffett said. “We’ve been reasonably good at figuring out when we were getting enough for our money. And we had no idea when we bought anything, but we always hoped it would the down for a while so we could buy more. ... I mean, that stuff, you could you could learn in fourth grade.”Munger says \"just say no\" to putting bitcoin in your retirement accountCharlie Munger is still down on bitcoin.He responded to an audience member question asking what single stock they would invest in given how high inflation has been rising.The Berkshire executives didn’t say where they would put their money, but Munger was clear about where he wouldn’t invest: bitcoin.“When you have your own retirement account, and your friendly adviser suggests you put all the money in into bitcoin, just say no,” he said.Munger’s answer was a thinly veiled reference tobig news from Fidelity this week, which will now allow employees to putbitcoininto their employee-sponsored retirement accounts.Munger and Buffett have both long been critics of bitcoin, which has become increasingly attractive to certain investors for its potential as an inflation hedge.Buffett describes his start to investing when he was 11 years oldA trip to the New York Stock Exchange when he was 9 years old was inspiring for Warren Buffett, who is known to have started investing when he was 11 years old.“I went to the New York Stock Exchange, I was in awe of it,” Buffett said. “I got very interested in technical analysis and charted stocks and did all kinds of crazy things, did hours and hours and hours and saved money to buy other stocks and tried shorting. I just did everything.”The investor bought a stock at 11 after spending his childhood reading books on the subject from the library and in his father’s office. He said his approach to investing later changed completely when he was 19 or 20 years old after reading one particular book passage in what he said must have been Benjamin Graham’s “The Intelligent Investor.”“I looked at this book and I saw one paragraph and it told me I’ve been doing everything wrong. I just had the whole approach wrong,” Buffett said.Buffett wants to make it clear he’s not the only one picking stocks at Berkshire HathawayWarren Buffett wants to make it clear that he’s not the only one at Berkshire Hathaway picking stocks.“I see headlines in papers just time after time after time that say, ‘Buffett’s buying such and such,’” Buffett said. “I’m not buying such and such. Berkshire Hathaway is buying.”The investor said a stock pick may have been made by other finance professionals in his organization without Buffett’s ever having heard of it.“But the headline will attract more people if it says Buffett buying this than if it says Berkshire Hathaway, and we don’t know whether it is the people that work for him, the headline is designed to bring people into the story,” Buffett said.“The easiest thing to do is basically shut up and not have a bunch of people facing consequences they didn’t ask for in the first place,” he said.Buffett says inflation ‘swindles almost everybody’When asked about his previous comments that inflation “swindles” equity investors, Buffett said the damage from rising prices was much broader than that.“Inflation swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody,” he said.Buffett pointed out that inflation also raises the amount of capital that companies need to have and that it isn’t as simple as raising prices to maintain inflation-adjusted profits.The Berkshire Hathaway CEO cautioned against listening to people who claim to be able to predict the path of inflation.“The question is how much ... and the answer is nobody knows,” Buffett said.Buffett reiterated that the best protection against the inflation is investing in your own skills.Buffett says Berkshire now owns 9.5% of Activision BlizzardWarren Buffett said Berkshire Hathaway has been increasing its stake inActivision Blizzardin a merger arbitrage bet thatMicrosoft’sproposed acquisition of the video game company will close.In the fourth quarter of 2021, Berkshire first purchased about $1 billion worth of Activision Blizzard stock, in a bet the company was undervalued. Buffett has saidBerkshire “had no prior knowledge”of Microsoft’s plan to buy the company when Berkshire made its initial investment.In January, Microsoftannounced intentions to buy Activisionfor $95 per share. Its stock closed at $75.60 per share on Friday.Buffett said he has been buying more shares of Activision since the deal was announced as the stock is trading way below Microsoft’s offer. Buying at these levels will yield a bigger return if the deal closes.Buffett said Berkshire now owns about 9.5% of Activision. “If we went over 10%, we would file a report,” he said.“If the deal goes through, we make some money, and if the deal doesn’t go through, who knows what happens,” Buffett said.“We don’t know what the Justice Department will do, we don’t know what the E.U. will do, we don’t know what 30 other jurisdictions will do. One thing we do know is that Microsoft has the money,” Buffett added.Buffett: ‘I look at Berkshire as a painting’The possibilities for Berkshire Hathaway are endless in the eyes of Warren Buffett, who likened the company to a work of art.“I look at Berkshire as a painting,” Buffett said. “It’s unlimited in size; it’s got an ever-expanding canvas, and I get to paint what I want.”Buffett did acknowledge that he doesn’t know much about art, but added that “other people look at paintings and they see something, then they’ll see something additional later on, and they really have a different sort of perception in relation to that. To me, Berkshire is a painting, and I get to paint.”“It’s in my head, and I see different things in it as I go along,” Buffett said. “It’s satisfying.”Buffett calls Jerome Powell a heroIn addressing a question about inflation, Buffett talked about the massive stimulus during the pandemic as a key reason for the rising prices now.“You print loads of money, and money is going to be worth less,” Buffett said.However, he did not criticize the Federal Reserve for its actions to boost money supply and stabilize markets during the health crisis.“In my book,Jay Powellis a hero. It’s very simple. He did what he had to do,” Buffett said.Buffett says people are becoming more tribalWarren Buffett said people are becoming more tribal.“My general assumption — there’s no way to prove it — but essentially, people are now behaving somewhat more tribal than they have for a long time,” Buffett said.“It’s fun to participate in, but it can get very dangerous when people say two plus two is five and the other says two plus two is three, you know, and they’re gonna give you those answers,” he continued.The investor said the country seems as tribal as it appeared during the 1930s when public sentiment was split in the U.S. around Franklin Roosevelt. Buffett said he was raised in a household where he and his siblings weren’t served dessert until they “said something nasty” about Roosevelt.“I don’t think it’s a good development for society,” Buffett said.Buffett says he won’t buy bitcoin because ‘it doesn’t produce anything’Warren Buffettreiterated his skepticism of bitcoin on Saturday, saying he would be unwilling to buy it for even extremely low prices because it produces nothing of value.“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,” Buffett said. “It’s got a magic to it and people have attached magics to lots of things.”Buffett listed farmland, apartment buildings — and even art — as assets that had more tangible value than bitcoin.“Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted. You can come up with all kinds of things. We can put up Berkshire coins, put up Berkshire money but in the end, this is money,” he said, holding up a $20 bill. “And there’s no reason in the world why the United States government … is going to let Berkshire money replace theirs.”Berkshire’s business meeting concludes with shareholder votesBerkshire’s formal business meeting followed nearly five hours of Q&A with Warren Buffett and Charlie Munger. Shareholders voted on a number of proposals at the meeting.The proposal that garnered most attention was from the non-profit National Legal and Policy Center. It calls for the company to strip Buffett of his chairman role. Shareholders voted down the proposal backed by CALPERS, the largest U.S. public pension fund.Brunel Pension requested the board of Berkshire to publish an annual assessment addressing how the company manages physical and transitional climate-related risks. The number of votes against the motion outnumbered the ones for it.One shareholder also took issue with Berkshire’s climate change initiative. The proposal called for Berkshire to issue a report addressing if and how it intends to measure, disclose, and reduce the GHG emissions associated in alignment with the Paris Agreement’s 1.5°C goal, requiring net zero emissions. Shareholders voted it down.The last proposal asked Berkshire to report to shareholders on the outcomes of their diversity, equity and inclusion efforts by publishing quantitative data on workforce composition and recruitment, retention, and promotion rates of employees by gender, race, and ethnicity. The motion also failed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916224635,"gmtCreate":1664605134627,"gmtModify":1676537484466,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Super","listText":"Super","text":"Super","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9916224635","repostId":"1101553620","repostType":2,"repost":{"id":"1101553620","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":1664595421,"share":"https://www.laohu8.com/m/news/1101553620?lang=&edition=full","pubTime":"2022-10-01 11:37","market":"us","language":"en","title":"Tesla Showed Humanoid Robot Optimus on Friday Night at AI Day 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=1101553620","media":"Tiger Newspress","summary":"Tesla Inc. AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk","content":"<html><head></head><body><p><b>Tesla Inc.</b> AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk.</p><p>Musk along with other executives, including Tesla Director of Autopilot Software Ashok Elluswamy would likely make presentations.</p><p>Notable updates expected out of the event are related to the Optimus Tesla bot, the full self-driving software, the Dojo supercomputer, Tesla’s neural network training supercomputer and possibly Robotaxis.</p><p>Musk is hoping to use the event to hire the best AI talent who could drive innovation in that arena.</p><p>Musk gets started with a reference to Optimus and reminds people that Tesla is a public company. He jestingly remarks even he is not immune to firing, especially if he goes crazy. Musk says AI, Autopilot, Dojo and a &#39;long&#39; question &amp; answers session on the agenda — folks welcome to ask existential or technical questions — whatever floats their boat.</p><p>Tesla bot is on stage — a real one, a sleek looking one! It’s waving to the crowd now. So, we do have a prototype!</p><p>Musk says the bot can do more than what it&#39;s doing on stage. A video showing its other functionalities is presented, where the bot is seen working at the Fremont factory, watering plants among other things. Musk says the humanoid can identify objects. A bot with Tesla-designed actuators — Musk says it would be ready to walk in a few weeks.</p><p>Optimus can move fingers. The goal is to make it useful, Musk says. It is &#34;extremely useful&#34; and made in volume, probably in volumes. So, could cost less, about $20,000, according to Tesla.</p><p>Musk appreciates the team for doing a wonderful job but says still a lot of improvements to be made. He is appealing to talent to join the company as it seeks to &#34;do the right thing.&#34;</p><p>Musk gives his vision for the economy — a future of abundance, with no poverty. A fundamental transformation that promises safety.</p><p>He repeats why Tesla remains is a public company, giving control to people. The public can influence Tesla’s policies and actions.</p><p>After the pitch to talent, another Tesla team member walks the audience through the development timeline of the Tesla bot.</p><p>On power consumption of bot, 100W sitting, 500W for brisk walking, and it weighs 73 kg. Degrees of freedom is at above 200.</p><p>Tesla shows Optimus with actuators. The company is working on optimizing costs, reducing wiring in extremities and centralizing power distribution.</p><p>The battery pack is at the torso of the bot — charing, power distribution all at one place. Leveraging the existing Tesla supply chain for it, the bot is going to do everything a human brain does. Support communication is wireless.</p><p>Malcolm Burgess, Manager, Vehicle Dynamics and Concept Structures at Tesla, now on stage showcases how Optimus is immune to injury in the wake of a falling. The bot is made with materials such as titanium that are not stiff.</p><p>Tesla has taken inspiration from biology for the bot’s movement. Most important things from a design perspective are energy and mass. Tesla has carried its experience from car to robots, Burgess says.</p><p>The bot having 28 actuators allows high-level activity like walking and climbing stairs. An actuator is able to lift a halftone, 9-foot piano, a video shows.</p><p>On hand design: Bot has five fingers. The real utility is in factories for lifting objects. Six actuators and 11 degrees of freedom and adaptive grasp and non-back drivable fingers for the bot.</p><p>We are moving from robot on wheels to robot on legs, say Tesla. Video showcases the locomotion of the robot.</p><p>Tesla Humanoid Robotics Engineer Felix Sygulla talks about walking and aspects of engineering challenges involved in this action.</p><p>Controls are very complex, he says. Measuring reality and adding corrections to the behavior of the robot is important.</p><p>That’s all on Optimus. Now, it is over to Tesla Director for Autopilot Software Ashok Elluswamy for FSD updates.</p><p>Tesla has gone from 2,000 cars running FSD to 160,000 customers in a year, Elluswamy says. About 75,000 neural network models run each year, the pace of innovation is progressing.</p><p>FSD Beta Software is &#34;quite capable&#34; of driving the car, he says, including stopping for traffic lights and stop signs, negotiating with objects at intersections and making turns and so on. Tesla showcases a video on how Tesla deals with traffic and pedestrians at the intersections.</p><p>Tesla analyst Gene Munster on rising FSD customers says, &#34;My guess is there are just under [two million Tesla vehicles] on the road that can run FSD, suggesting about 10% uptake. Hard to read too much into that uptake. I bet most are geeks who got FSD to play with the tech.&#34;</p><p>Tesla explains model behind how FSD makes a turn decision.</p><p>Musk tweets, &#34;the point of AI Day is to show the immense depth [and] breadth of Tesla in AI, compute hardware &amp; robotics.&#34; Prominent Tesla influencer Sawyer Merritt says the event shows &#34;people calling Tesla &#39;just an automaker&#39; have no damn clue.&#34; His main takeaway from the event is &#34;</p><p>Optimus is farther along than most expected and they are very serious about it. The progress [over ]the last [eight] months is incredible.&#34;</p><p>While Tesla engineers show off the technical details behind its self-driving software, have a sneak-peak at the company&#39;s Dojo supercomputer!</p><p>It&#39;s time to get Dojo supercomputer updates from Dojo Project lead <b>Ganesh Venkataramanan</b> and Tesla director <b>Peter Bannon.</b></p><p>Tesla is a hardcore tech company, Bannon says, as he gives some background on Dojo. No limits philosophy was the guiding point for Dojo, Venkataramanan says.</p><p>Dojo Principal System Engineer Bill Chang says vision for the supercomuter is to build a single unified accelerator, &#34;a very large one.&#34;</p><p>Musk tweets that &#34;naturally, there will be a catgirl version of our Optimus robot.&#34; He shares a photo of him standing alongside the bot prototype.</p><p>The coefficient of thermal expansion is important. So, Tesla worked with vendors to deliver power solutions. CTE was reduced by over 50%, and Dojo met performance three times over initial expansion, says Chang. He adds, solving density at every level is key to achieving performance.</p><p>Tesla Principal Engineer Rajiv Kurian shares images of Cybertruck on Mars generated by stable diffusion running on Dojo — He quips: looks like it still has a long way to go before matching the Tesla design team.</p><p>Musk closes the presentation, by outlining Tesla&#39;s plan for the humanoid. &#34;Our goal with Optimus is to have a robot that is maximally useful as quickly as possible.&#34;</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>Tesla Showed Humanoid Robot Optimus on Friday Night at AI Day 2022</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Showed Humanoid Robot Optimus on Friday Night at AI Day 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-10-01 11:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><b>Tesla Inc.</b> AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk.</p><p>Musk along with other executives, including Tesla Director of Autopilot Software Ashok Elluswamy would likely make presentations.</p><p>Notable updates expected out of the event are related to the Optimus Tesla bot, the full self-driving software, the Dojo supercomputer, Tesla’s neural network training supercomputer and possibly Robotaxis.</p><p>Musk is hoping to use the event to hire the best AI talent who could drive innovation in that arena.</p><p>Musk gets started with a reference to Optimus and reminds people that Tesla is a public company. He jestingly remarks even he is not immune to firing, especially if he goes crazy. Musk says AI, Autopilot, Dojo and a &#39;long&#39; question &amp; answers session on the agenda — folks welcome to ask existential or technical questions — whatever floats their boat.</p><p>Tesla bot is on stage — a real one, a sleek looking one! It’s waving to the crowd now. So, we do have a prototype!</p><p>Musk says the bot can do more than what it&#39;s doing on stage. A video showing its other functionalities is presented, where the bot is seen working at the Fremont factory, watering plants among other things. Musk says the humanoid can identify objects. A bot with Tesla-designed actuators — Musk says it would be ready to walk in a few weeks.</p><p>Optimus can move fingers. The goal is to make it useful, Musk says. It is &#34;extremely useful&#34; and made in volume, probably in volumes. So, could cost less, about $20,000, according to Tesla.</p><p>Musk appreciates the team for doing a wonderful job but says still a lot of improvements to be made. He is appealing to talent to join the company as it seeks to &#34;do the right thing.&#34;</p><p>Musk gives his vision for the economy — a future of abundance, with no poverty. A fundamental transformation that promises safety.</p><p>He repeats why Tesla remains is a public company, giving control to people. The public can influence Tesla’s policies and actions.</p><p>After the pitch to talent, another Tesla team member walks the audience through the development timeline of the Tesla bot.</p><p>On power consumption of bot, 100W sitting, 500W for brisk walking, and it weighs 73 kg. Degrees of freedom is at above 200.</p><p>Tesla shows Optimus with actuators. The company is working on optimizing costs, reducing wiring in extremities and centralizing power distribution.</p><p>The battery pack is at the torso of the bot — charing, power distribution all at one place. Leveraging the existing Tesla supply chain for it, the bot is going to do everything a human brain does. Support communication is wireless.</p><p>Malcolm Burgess, Manager, Vehicle Dynamics and Concept Structures at Tesla, now on stage showcases how Optimus is immune to injury in the wake of a falling. The bot is made with materials such as titanium that are not stiff.</p><p>Tesla has taken inspiration from biology for the bot’s movement. Most important things from a design perspective are energy and mass. Tesla has carried its experience from car to robots, Burgess says.</p><p>The bot having 28 actuators allows high-level activity like walking and climbing stairs. An actuator is able to lift a halftone, 9-foot piano, a video shows.</p><p>On hand design: Bot has five fingers. The real utility is in factories for lifting objects. Six actuators and 11 degrees of freedom and adaptive grasp and non-back drivable fingers for the bot.</p><p>We are moving from robot on wheels to robot on legs, say Tesla. Video showcases the locomotion of the robot.</p><p>Tesla Humanoid Robotics Engineer Felix Sygulla talks about walking and aspects of engineering challenges involved in this action.</p><p>Controls are very complex, he says. Measuring reality and adding corrections to the behavior of the robot is important.</p><p>That’s all on Optimus. Now, it is over to Tesla Director for Autopilot Software Ashok Elluswamy for FSD updates.</p><p>Tesla has gone from 2,000 cars running FSD to 160,000 customers in a year, Elluswamy says. About 75,000 neural network models run each year, the pace of innovation is progressing.</p><p>FSD Beta Software is &#34;quite capable&#34; of driving the car, he says, including stopping for traffic lights and stop signs, negotiating with objects at intersections and making turns and so on. Tesla showcases a video on how Tesla deals with traffic and pedestrians at the intersections.</p><p>Tesla analyst Gene Munster on rising FSD customers says, &#34;My guess is there are just under [two million Tesla vehicles] on the road that can run FSD, suggesting about 10% uptake. Hard to read too much into that uptake. I bet most are geeks who got FSD to play with the tech.&#34;</p><p>Tesla explains model behind how FSD makes a turn decision.</p><p>Musk tweets, &#34;the point of AI Day is to show the immense depth [and] breadth of Tesla in AI, compute hardware &amp; robotics.&#34; Prominent Tesla influencer Sawyer Merritt says the event shows &#34;people calling Tesla &#39;just an automaker&#39; have no damn clue.&#34; His main takeaway from the event is &#34;</p><p>Optimus is farther along than most expected and they are very serious about it. The progress [over ]the last [eight] months is incredible.&#34;</p><p>While Tesla engineers show off the technical details behind its self-driving software, have a sneak-peak at the company&#39;s Dojo supercomputer!</p><p>It&#39;s time to get Dojo supercomputer updates from Dojo Project lead <b>Ganesh Venkataramanan</b> and Tesla director <b>Peter Bannon.</b></p><p>Tesla is a hardcore tech company, Bannon says, as he gives some background on Dojo. No limits philosophy was the guiding point for Dojo, Venkataramanan says.</p><p>Dojo Principal System Engineer Bill Chang says vision for the supercomuter is to build a single unified accelerator, &#34;a very large one.&#34;</p><p>Musk tweets that &#34;naturally, there will be a catgirl version of our Optimus robot.&#34; He shares a photo of him standing alongside the bot prototype.</p><p>The coefficient of thermal expansion is important. So, Tesla worked with vendors to deliver power solutions. CTE was reduced by over 50%, and Dojo met performance three times over initial expansion, says Chang. He adds, solving density at every level is key to achieving performance.</p><p>Tesla Principal Engineer Rajiv Kurian shares images of Cybertruck on Mars generated by stable diffusion running on Dojo — He quips: looks like it still has a long way to go before matching the Tesla design team.</p><p>Musk closes the presentation, by outlining Tesla&#39;s plan for the humanoid. &#34;Our goal with Optimus is to have a robot that is maximally useful as quickly as possible.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101553620","content_text":"Tesla Inc. AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk.Musk along with other executives, including Tesla Director of Autopilot Software Ashok Elluswamy would likely make presentations.Notable updates expected out of the event are related to the Optimus Tesla bot, the full self-driving software, the Dojo supercomputer, Tesla’s neural network training supercomputer and possibly Robotaxis.Musk is hoping to use the event to hire the best AI talent who could drive innovation in that arena.Musk gets started with a reference to Optimus and reminds people that Tesla is a public company. He jestingly remarks even he is not immune to firing, especially if he goes crazy. Musk says AI, Autopilot, Dojo and a 'long' question & answers session on the agenda — folks welcome to ask existential or technical questions — whatever floats their boat.Tesla bot is on stage — a real one, a sleek looking one! It’s waving to the crowd now. So, we do have a prototype!Musk says the bot can do more than what it's doing on stage. A video showing its other functionalities is presented, where the bot is seen working at the Fremont factory, watering plants among other things. Musk says the humanoid can identify objects. A bot with Tesla-designed actuators — Musk says it would be ready to walk in a few weeks.Optimus can move fingers. The goal is to make it useful, Musk says. It is \"extremely useful\" and made in volume, probably in volumes. So, could cost less, about $20,000, according to Tesla.Musk appreciates the team for doing a wonderful job but says still a lot of improvements to be made. He is appealing to talent to join the company as it seeks to \"do the right thing.\"Musk gives his vision for the economy — a future of abundance, with no poverty. A fundamental transformation that promises safety.He repeats why Tesla remains is a public company, giving control to people. The public can influence Tesla’s policies and actions.After the pitch to talent, another Tesla team member walks the audience through the development timeline of the Tesla bot.On power consumption of bot, 100W sitting, 500W for brisk walking, and it weighs 73 kg. Degrees of freedom is at above 200.Tesla shows Optimus with actuators. The company is working on optimizing costs, reducing wiring in extremities and centralizing power distribution.The battery pack is at the torso of the bot — charing, power distribution all at one place. Leveraging the existing Tesla supply chain for it, the bot is going to do everything a human brain does. Support communication is wireless.Malcolm Burgess, Manager, Vehicle Dynamics and Concept Structures at Tesla, now on stage showcases how Optimus is immune to injury in the wake of a falling. The bot is made with materials such as titanium that are not stiff.Tesla has taken inspiration from biology for the bot’s movement. Most important things from a design perspective are energy and mass. Tesla has carried its experience from car to robots, Burgess says.The bot having 28 actuators allows high-level activity like walking and climbing stairs. An actuator is able to lift a halftone, 9-foot piano, a video shows.On hand design: Bot has five fingers. The real utility is in factories for lifting objects. Six actuators and 11 degrees of freedom and adaptive grasp and non-back drivable fingers for the bot.We are moving from robot on wheels to robot on legs, say Tesla. Video showcases the locomotion of the robot.Tesla Humanoid Robotics Engineer Felix Sygulla talks about walking and aspects of engineering challenges involved in this action.Controls are very complex, he says. Measuring reality and adding corrections to the behavior of the robot is important.That’s all on Optimus. Now, it is over to Tesla Director for Autopilot Software Ashok Elluswamy for FSD updates.Tesla has gone from 2,000 cars running FSD to 160,000 customers in a year, Elluswamy says. About 75,000 neural network models run each year, the pace of innovation is progressing.FSD Beta Software is \"quite capable\" of driving the car, he says, including stopping for traffic lights and stop signs, negotiating with objects at intersections and making turns and so on. Tesla showcases a video on how Tesla deals with traffic and pedestrians at the intersections.Tesla analyst Gene Munster on rising FSD customers says, \"My guess is there are just under [two million Tesla vehicles] on the road that can run FSD, suggesting about 10% uptake. Hard to read too much into that uptake. I bet most are geeks who got FSD to play with the tech.\"Tesla explains model behind how FSD makes a turn decision.Musk tweets, \"the point of AI Day is to show the immense depth [and] breadth of Tesla in AI, compute hardware & robotics.\" Prominent Tesla influencer Sawyer Merritt says the event shows \"people calling Tesla 'just an automaker' have no damn clue.\" His main takeaway from the event is \"Optimus is farther along than most expected and they are very serious about it. The progress [over ]the last [eight] months is incredible.\"While Tesla engineers show off the technical details behind its self-driving software, have a sneak-peak at the company's Dojo supercomputer!It's time to get Dojo supercomputer updates from Dojo Project lead Ganesh Venkataramanan and Tesla director Peter Bannon.Tesla is a hardcore tech company, Bannon says, as he gives some background on Dojo. No limits philosophy was the guiding point for Dojo, Venkataramanan says.Dojo Principal System Engineer Bill Chang says vision for the supercomuter is to build a single unified accelerator, \"a very large one.\"Musk tweets that \"naturally, there will be a catgirl version of our Optimus robot.\" He shares a photo of him standing alongside the bot prototype.The coefficient of thermal expansion is important. So, Tesla worked with vendors to deliver power solutions. CTE was reduced by over 50%, and Dojo met performance three times over initial expansion, says Chang. He adds, solving density at every level is key to achieving performance.Tesla Principal Engineer Rajiv Kurian shares images of Cybertruck on Mars generated by stable diffusion running on Dojo — He quips: looks like it still has a long way to go before matching the Tesla design team.Musk closes the presentation, by outlining Tesla's plan for the humanoid. \"Our goal with Optimus is to have a robot that is maximally useful as quickly as possible.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":46,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087828056,"gmtCreate":1650987797377,"gmtModify":1676534828763,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Grab more?","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Grab more?","text":"$Grab Holdings(GRAB)$Grab more?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087828056","isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947945462,"gmtCreate":1682511138456,"gmtModify":1682511143624,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Don't underestimate Google","listText":"Don't underestimate Google","text":"Don't underestimate Google","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947945462","repostId":"1164465293","repostType":4,"repost":{"id":"1164465293","pubTimestamp":1682509507,"share":"https://www.laohu8.com/m/news/1164465293?lang=&edition=full","pubTime":"2023-04-26 19:45","market":"us","language":"en","title":"Google Beats Q1 Earnings: I'll Stay Long","url":"https://stock-news.laohu8.com/highlight/detail?id=1164465293","media":"Seekingalpha","summary":"SummaryAlphabet Inc./Google just released its first quarter earnings.The release easily beat analyst","content":"<html><head></head><body><h2 style=\"text-align: left;\">Summary</h2><ul><li><p>Alphabet Inc./Google just released its first quarter earnings.</p></li><li><p>The release easily beat analyst estimates on revenue as well as on earnings per share.</p></li><li><p>Heading into the first quarter, I was optimistic that Google&#39;s cost cutting would have an effect on the bottom line.</p></li><li><p>In the end, it did.</p></li><li><p>In this article, I&#39;ll explain why I remain bullish on Alphabet stock after its first quarter earnings release.</p></li></ul><p><strong>Alphabet Inc.</strong> (NASDAQ:GOOG, NASDAQ:GOOGL), hereafter referred to as “Google,” just released its first quarter earnings. The release showed $1.17 in first quarter earnings per share, and $69.7 billion in revenue. The metrics beat analysts’ estimates on both the top and bottom lines. Far and away the most impressive thing in the release was Google Cloud’s swing to positive EBIT profits, a first for that segment.</p><p style=\"text-align: left;\">Overall, Google’s first quarter release was about in line with what I expected. I knew going into the release that Google’s layoffs would eventually boost earnings, but I also knew that the company had $1.9B to $2.3B in severance pay to hand out. Given this fact, it was not surprising that Google’s earnings declined once more. The severance pay was a hurdle that had to be cleared before earnings could start climbing again.</p><p style=\"text-align: left;\">Given that most of Google’s severance pay has been paid out, it looks like the company has an opportunity to start growing earnings again later this year. With $69.7 billion in first quarter revenue and a major reduction in headcount, management has a good foundation to build from.</p><p style=\"text-align: left;\">Expectations were pretty dim heading into Google’s first quarter release. Early in the first quarter, <a href=\"https://laohu8.com/S/MSFT\">Microsoft Corporation</a> made waves by launching its own AI-powered search in Bing. Bing initially wowed reviewers with its ability to search the internet for new information, making it better for news-related queries than ChatGPT was. Later, though, some of the luster came off the chatbot when it was found to have insulted users and delivered inaccurate information. Google’s Chatbot, Bard, had issues of its own, but its launch correlated closely with a rise in Google’s stock price.</p><p style=\"text-align: left;\">Now that Google’s first quarter earnings are out, we have some idea of how all of these projects are going. Tentatively, the picture looks pretty good. In this article, I will explain why I’m moderately bullish on Google stock following its strong first quarter earnings release.</p><h2 style=\"text-align: left;\">Earnings Recap</h2><p style=\"text-align: left;\">In the first quarter, Google delivered:</p><ul><li><p>$69.7 billion in revenue, up 3%, a beat.</p></li><li><p>$15.05 billion in net income, down 8.4%, a beat.</p></li><li><p>$1.17 in diluted EPS, down 4.8%, a beat.</p></li><li><p>$23.5 billion in cash from operations, down 6.3%.</p></li><li><p>$17.22 billion in free cash flow (“FCF”), or $1.34 in FCF per share.</p></li><li><p>$40.83 billion in Google search revenue, up 1.8%</p></li><li><p>$5.86 billion in YouTube ad revenue, down 2.3%.</p></li><li><p>$7.5 billion in cloud revenue, up 29.6%.</p></li><li><p>$191 million in cloud EBIT profits, up from a loss.</p></li></ul><p style=\"text-align: left;\">Overall, it was a decent showing. With $15.05 billion in earnings and $69.7 billion in revenue, Google had a 21.5% profit margin, which indicates healthy profitability. The growth was not so impressive, but some slowdown was to be expected after the heady growth Google enjoyed in 2021.</p><p style=\"text-align: left;\">One highlight of the release was Google Cloud’s EBIT profitability. That was a first for the segment, and with the growth still strong, the contribution to the bottom line could be substantial.</p><h2 style=\"text-align: left;\">Valuation</h2><p style=\"text-align: left;\">Prior to today’s release, Google&#39;s stock traded at the following multiples (according to Seeking Alpha Quant):</p><ul><li><p>P/E: 23.</p></li><li><p>Price/sales: 4.87.</p></li><li><p>Price/book: 5.3.</p></li><li><p>Price/operating cash flow: 14.66.</p></li></ul><p style=\"text-align: left;\">With Google’s first quarter release out, a few of these multiples have changed. For example, the $1.17 in earnings per share changes the P/E ratio to 24.4, which is slightly worse than it was before. Book value and revenue are both largely unchanged from the prior quarter. With the NASDAQ-100 today trading at 23.72 times earnings, it looks like Google is about fairly valued on a sector-relative basis.</p><p style=\"text-align: left;\">We can also look at Alphabet’s valuation from the perspective of discounted cash flows. Trailing 12 month free cash flow per share is currently $4.77, with the $1.34 just added this quarter plus $3.43 from the previous three quarters. Discounted at the 10 year Treasury yield (3.55%), that’s worth $134. If you discount it with a 3% risk premium, it’s worth $86.7. Both of these calculations assume 0% growth into perpetuity, if you take the average of them, it appears to point to Google being slightly undervalued ($110 fair value estimate). So, Google scores relatively well on the value factor compared to the rest of big tech.</p><h2 style=\"text-align: left;\">Looking Ahead</h2><p style=\"text-align: left;\">In addition to releasing its earnings, Google also gave some clues as to what’s in store in the future. Among other things, it has indicated that it will:</p><ul><li><p>Integrate the Bard AI meaningfully into Google search, as Microsoft has done with Bing. The overall effect of this could be mixed. It may help Google shore up its competitive position, as ChatBots are thought to be a threat to search. However, it could also cause a $6 billion hit to EBIT according to <strong>Morgan Stanley</strong> (MS), as chatbots are more expensive to run than Google search currently is.</p></li><li><p>Promote YouTube shorts. Short content has been a big phenomenon in video sharing sites lately, driven by the rapid rise of TikTok. Google is trying to get YouTube engagement up, so it’s likely to keep promoting shorts to get some of the user time that’s being spent on short form video.</p></li><li><p>Continue growing the cloud segment. As Google’s first quarter release showed, the Cloud is by far the biggest growth driver for Google, growing at 29.6% year over year. Google isn’t going to want to let that growth decelerate, as there’s not much growth elsewhere in the business. So, continued investment in the cloud is likely.</p></li></ul><p style=\"text-align: left;\">Overall, Google has some promising investments available to it right now. YouTube is the weak link at the moment, with negative revenue growth, but there has been real strength in the cloud, and Google Search market share is holding up well despite the progress Microsoft has made with Bing. Additionally, at some point in the next month, Google will begin to “lap” prior quarters in which the 2022 earnings decline had already begun, making them easier to grow from. On the whole, there are many reasons to be optimistic about the quarters ahead.</p><h2 style=\"text-align: left;\">Risks and Challenges</h2><p style=\"text-align: left;\">Despite having an overall positive view on Google stock, I think there are many risks and challenges that investors need to be aware of. Some of the most important include:</p><ul><li><p><strong>Currency impacts.</strong> Currency impacts have been holding back Google’s revenue for many quarters now. The U.S. dollar is relatively strong compared to other global currencies at the moment–in particular the euro. With the U.S. dollar making gains, Google’s EU-sourced revenue is becoming less valuable after currency conversion, and that’s partially what’s causing Google’s revenue growth this year to be so underwhelming. If the U.S. dollar keeps making gains, then the reported revenue growth will be even slower, increasing the odds of Google disappointing investors. On the other hand, if the trend in the dollar reverses, it could be a tailwind for Google.</p></li><li><p><strong>Legal risk.</strong> Google is facing multiple different anti-trust investigations right now. Presently, it’s being sued by the U.S. Justice Department for abusing its market position. There are similar actions underway in Europe. These anti-trust lawsuits, when they are successful, can cost tech companies billions of dollars. For example, Google recently got sued for $4.12 billion in Europe, attempted to have the ruling turned over on appeal, but lost at the appellate court. It appears quite likely that Google will be forced to pay out that $4.12 billion.</p></li><li><p><strong>Diminishing market share.</strong> Earlier I mentioned that Google’s market share in Search was still strong. It is: it had 93.17% of the market worldwide. The market share breakdown currently looks good for Google, the problem is that the trends are not heading in its direction: Bing is ever so slightly making gains, having picked up some users with the launch of its AI Chatbot this year. This is not to say that Bing will continue making gains at the expense of Google; if the mass rollout of Bard is a success, then that probably won’t happen. However, Morgan Stanley estimates that including Bard in all Google searches will cost it $6 billion a year in EBIT, so GOOG faces a “stuck between a rock and a hard place” situation here.</p></li></ul><h2 style=\"text-align: left;\">The Bottom Line</h2><p style=\"text-align: left;\">The bottom line about Google’s most recent earnings release is that it confirmed what investors have long believed about the company: that it is a high-moat enterprise whose stock is relatively inexpensive by the standards of its peer group. Google’s revenue growth is still positive, and its most recent earnings, while declining, are nevertheless declining by much less than they were previously. Still, Google stock remains cheaper than most of the other big tech giants. I’m content to keep holding Google stock for the time being.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Google Beats Q1 Earnings: I'll Stay Long</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\">\nGoogle Beats Q1 Earnings: I'll Stay Long\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-26 19:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4596535-google-beats-q1-earnings-ill-stay-long><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAlphabet Inc./Google just released its first quarter earnings.The release easily beat analyst estimates on revenue as well as on earnings per share.Heading into the first quarter, I was ...</p>\n\n<a href=\"https://seekingalpha.com/article/4596535-google-beats-q1-earnings-ill-stay-long\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A"},"source_url":"https://seekingalpha.com/article/4596535-google-beats-q1-earnings-ill-stay-long","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1164465293","content_text":"SummaryAlphabet Inc./Google just released its first quarter earnings.The release easily beat analyst estimates on revenue as well as on earnings per share.Heading into the first quarter, I was optimistic that Google's cost cutting would have an effect on the bottom line.In the end, it did.In this article, I'll explain why I remain bullish on Alphabet stock after its first quarter earnings release.Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL), hereafter referred to as “Google,” just released its first quarter earnings. The release showed $1.17 in first quarter earnings per share, and $69.7 billion in revenue. The metrics beat analysts’ estimates on both the top and bottom lines. Far and away the most impressive thing in the release was Google Cloud’s swing to positive EBIT profits, a first for that segment.Overall, Google’s first quarter release was about in line with what I expected. I knew going into the release that Google’s layoffs would eventually boost earnings, but I also knew that the company had $1.9B to $2.3B in severance pay to hand out. Given this fact, it was not surprising that Google’s earnings declined once more. The severance pay was a hurdle that had to be cleared before earnings could start climbing again.Given that most of Google’s severance pay has been paid out, it looks like the company has an opportunity to start growing earnings again later this year. With $69.7 billion in first quarter revenue and a major reduction in headcount, management has a good foundation to build from.Expectations were pretty dim heading into Google’s first quarter release. Early in the first quarter, Microsoft Corporation made waves by launching its own AI-powered search in Bing. Bing initially wowed reviewers with its ability to search the internet for new information, making it better for news-related queries than ChatGPT was. Later, though, some of the luster came off the chatbot when it was found to have insulted users and delivered inaccurate information. Google’s Chatbot, Bard, had issues of its own, but its launch correlated closely with a rise in Google’s stock price.Now that Google’s first quarter earnings are out, we have some idea of how all of these projects are going. Tentatively, the picture looks pretty good. In this article, I will explain why I’m moderately bullish on Google stock following its strong first quarter earnings release.Earnings RecapIn the first quarter, Google delivered:$69.7 billion in revenue, up 3%, a beat.$15.05 billion in net income, down 8.4%, a beat.$1.17 in diluted EPS, down 4.8%, a beat.$23.5 billion in cash from operations, down 6.3%.$17.22 billion in free cash flow (“FCF”), or $1.34 in FCF per share.$40.83 billion in Google search revenue, up 1.8%$5.86 billion in YouTube ad revenue, down 2.3%.$7.5 billion in cloud revenue, up 29.6%.$191 million in cloud EBIT profits, up from a loss.Overall, it was a decent showing. With $15.05 billion in earnings and $69.7 billion in revenue, Google had a 21.5% profit margin, which indicates healthy profitability. The growth was not so impressive, but some slowdown was to be expected after the heady growth Google enjoyed in 2021.One highlight of the release was Google Cloud’s EBIT profitability. That was a first for the segment, and with the growth still strong, the contribution to the bottom line could be substantial.ValuationPrior to today’s release, Google's stock traded at the following multiples (according to Seeking Alpha Quant):P/E: 23.Price/sales: 4.87.Price/book: 5.3.Price/operating cash flow: 14.66.With Google’s first quarter release out, a few of these multiples have changed. For example, the $1.17 in earnings per share changes the P/E ratio to 24.4, which is slightly worse than it was before. Book value and revenue are both largely unchanged from the prior quarter. With the NASDAQ-100 today trading at 23.72 times earnings, it looks like Google is about fairly valued on a sector-relative basis.We can also look at Alphabet’s valuation from the perspective of discounted cash flows. Trailing 12 month free cash flow per share is currently $4.77, with the $1.34 just added this quarter plus $3.43 from the previous three quarters. Discounted at the 10 year Treasury yield (3.55%), that’s worth $134. If you discount it with a 3% risk premium, it’s worth $86.7. Both of these calculations assume 0% growth into perpetuity, if you take the average of them, it appears to point to Google being slightly undervalued ($110 fair value estimate). So, Google scores relatively well on the value factor compared to the rest of big tech.Looking AheadIn addition to releasing its earnings, Google also gave some clues as to what’s in store in the future. Among other things, it has indicated that it will:Integrate the Bard AI meaningfully into Google search, as Microsoft has done with Bing. The overall effect of this could be mixed. It may help Google shore up its competitive position, as ChatBots are thought to be a threat to search. However, it could also cause a $6 billion hit to EBIT according to Morgan Stanley (MS), as chatbots are more expensive to run than Google search currently is.Promote YouTube shorts. Short content has been a big phenomenon in video sharing sites lately, driven by the rapid rise of TikTok. Google is trying to get YouTube engagement up, so it’s likely to keep promoting shorts to get some of the user time that’s being spent on short form video.Continue growing the cloud segment. As Google’s first quarter release showed, the Cloud is by far the biggest growth driver for Google, growing at 29.6% year over year. Google isn’t going to want to let that growth decelerate, as there’s not much growth elsewhere in the business. So, continued investment in the cloud is likely.Overall, Google has some promising investments available to it right now. YouTube is the weak link at the moment, with negative revenue growth, but there has been real strength in the cloud, and Google Search market share is holding up well despite the progress Microsoft has made with Bing. Additionally, at some point in the next month, Google will begin to “lap” prior quarters in which the 2022 earnings decline had already begun, making them easier to grow from. On the whole, there are many reasons to be optimistic about the quarters ahead.Risks and ChallengesDespite having an overall positive view on Google stock, I think there are many risks and challenges that investors need to be aware of. Some of the most important include:Currency impacts. Currency impacts have been holding back Google’s revenue for many quarters now. The U.S. dollar is relatively strong compared to other global currencies at the moment–in particular the euro. With the U.S. dollar making gains, Google’s EU-sourced revenue is becoming less valuable after currency conversion, and that’s partially what’s causing Google’s revenue growth this year to be so underwhelming. If the U.S. dollar keeps making gains, then the reported revenue growth will be even slower, increasing the odds of Google disappointing investors. On the other hand, if the trend in the dollar reverses, it could be a tailwind for Google.Legal risk. Google is facing multiple different anti-trust investigations right now. Presently, it’s being sued by the U.S. Justice Department for abusing its market position. There are similar actions underway in Europe. These anti-trust lawsuits, when they are successful, can cost tech companies billions of dollars. For example, Google recently got sued for $4.12 billion in Europe, attempted to have the ruling turned over on appeal, but lost at the appellate court. It appears quite likely that Google will be forced to pay out that $4.12 billion.Diminishing market share. Earlier I mentioned that Google’s market share in Search was still strong. It is: it had 93.17% of the market worldwide. The market share breakdown currently looks good for Google, the problem is that the trends are not heading in its direction: Bing is ever so slightly making gains, having picked up some users with the launch of its AI Chatbot this year. This is not to say that Bing will continue making gains at the expense of Google; if the mass rollout of Bard is a success, then that probably won’t happen. However, Morgan Stanley estimates that including Bard in all Google searches will cost it $6 billion a year in EBIT, so GOOG faces a “stuck between a rock and a hard place” situation here.The Bottom LineThe bottom line about Google’s most recent earnings release is that it confirmed what investors have long believed about the company: that it is a high-moat enterprise whose stock is relatively inexpensive by the standards of its peer group. Google’s revenue growth is still positive, and its most recent earnings, while declining, are nevertheless declining by much less than they were previously. Still, Google stock remains cheaper than most of the other big tech giants. I’m content to keep holding Google stock for the time being.","news_type":1},"isVote":1,"tweetType":1,"viewCount":286,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945455855,"gmtCreate":1681567092477,"gmtModify":1681567737896,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","listText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","text":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945455855","repostId":"2327177777","repostType":2,"repost":{"id":"2327177777","pubTimestamp":1681516587,"share":"https://www.laohu8.com/m/news/2327177777?lang=&edition=full","pubTime":"2023-04-15 07:56","market":"us","language":"en","title":"Elon Musk to Start AI Rival in Challenge to OpenAI","url":"https://stock-news.laohu8.com/highlight/detail?id=2327177777","media":"Seekingalpha","summary":"Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX ","content":"<html><head></head><body><p>Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX rocket, Elon Musk would appear to have more than enough on his plate to keep him busy.</p><p>But, it seems like he has room for just one more thing: Artificial Intelligence.</p><p>The iconic tech billionaire is planning to launch an AI startup with a directive to rival the ChatGPT technology from OpenAI, and is said to be building up a team of engineers and researchers to get the project off the ground. And according to the Financial Times, Musk is not just talking about making his AI enterprise a reality.</p><p>The FT said that &#34;people familiar with the tech entrepreneur&#39;s plans&#34; said Musk has already bought up &#34;thousands&#34; of Nvidia&#39;s (NVDA) high-powered graphics processors [GPUs] to build a large language model that will be capable of running massive amounts of data to create content on the level of ChatGPT.</p><p>According to the FT, the engineers Musk has hired include several from DeepMind, a British AI research lab that was founded in 2010, and which now is a subsidiary of Google&#39;s parent company Alphabet (GOOG).</p><p>There is a possibility that the chance to take on OpenAI could also be personal for Musk, as co-founded that company in 2015, and left its board of directors in 2018 due to differences in strategy with OpenAI executives.</p><p>ChatGPT has taken center stage in the booming interest in AI over the last several months since Microsoft (MSFT) threw its weight behind OpenAI in January with a &#34;multi-year, multi-billion dollar investment&#34; in the company.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk to Start AI Rival in Challenge to OpenAI</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\">\nElon Musk to Start AI Rival in Challenge to OpenAI\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-15 07:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3956681-elon-musk-to-start-ai-rival-in-challenge-to-openai><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX rocket, Elon Musk would appear to have more than enough on his plate to keep him busy.But, it seems ...</p>\n\n<a href=\"https://seekingalpha.com/news/3956681-elon-musk-to-start-ai-rival-in-challenge-to-openai\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","TWTR":"Twitter"},"source_url":"https://seekingalpha.com/news/3956681-elon-musk-to-start-ai-rival-in-challenge-to-openai","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2327177777","content_text":"Between running Tesla (NASDAQ: TSLA), overhauling Twitter (TWTR) and launching an occasional SpaceX rocket, Elon Musk would appear to have more than enough on his plate to keep him busy.But, it seems like he has room for just one more thing: Artificial Intelligence.The iconic tech billionaire is planning to launch an AI startup with a directive to rival the ChatGPT technology from OpenAI, and is said to be building up a team of engineers and researchers to get the project off the ground. And according to the Financial Times, Musk is not just talking about making his AI enterprise a reality.The FT said that \"people familiar with the tech entrepreneur's plans\" said Musk has already bought up \"thousands\" of Nvidia's (NVDA) high-powered graphics processors [GPUs] to build a large language model that will be capable of running massive amounts of data to create content on the level of ChatGPT.According to the FT, the engineers Musk has hired include several from DeepMind, a British AI research lab that was founded in 2010, and which now is a subsidiary of Google's parent company Alphabet (GOOG).There is a possibility that the chance to take on OpenAI could also be personal for Musk, as co-founded that company in 2015, and left its board of directors in 2018 due to differences in strategy with OpenAI executives.ChatGPT has taken center stage in the booming interest in AI over the last several months since Microsoft (MSFT) threw its weight behind OpenAI in January with a \"multi-year, multi-billion dollar investment\" in the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9075420233,"gmtCreate":1658243366022,"gmtModify":1676536127514,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Nice article with example","listText":"Nice article with example","text":"Nice article with example","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9075420233","repostId":"1185506686","repostType":2,"repost":{"id":"1185506686","pubTimestamp":1658216005,"share":"https://www.laohu8.com/m/news/1185506686?lang=&edition=full","pubTime":"2022-07-19 15:33","market":"us","language":"en","title":"How to Trade Options in a Bear Market: Retired Math Teacher","url":"https://stock-news.laohu8.com/highlight/detail?id=1185506686","media":"Business Insider","summary":"Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.This y","content":"<html><head></head><body><ul><li>Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.</li><li>This year, he pivoted to bear call spreads because the market became bullish.</li><li>It allows him to earn premiums and some capital gains without buying the underlying stocks.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5787b4d8beaf64c2401f662b3fb1ff2c\" tg-width=\"1300\" tg-height=\"975\" referrerpolicy=\"no-referrer\"/><span>Steve Chen became financially free at the age of 33. Steve Chen</span></p><p>Steve Chen spent his career as a middle-school math teacher until he retired from the job at the early age of 33 in February 2020.</p><p>He hadn&#39;t initially planned to leave that early. However, after landing his first $5,000 paycheck and seeing what he was left with after all the deductions were made, he realized he needed to find additional income streams.</p><p>One key takeaway he had after reading examples of others retiring early was that investing every month was a key factor in growing wealth. So he opened a brokerage account and began by simply investing in companies he was familiar with and broad-market exchange-traded funds such as Vanguard 500 (VOO), which tracks the S&amp;P 500.</p><p>As Chen became more familiar with investing by watching YouTube videos and reading blogs, he began to explore options trading, which took off for him in 2020.</p><p>By 2021, between his retirement and brokerage accounts, he had a net profit of $76,925.88 from options trading, according to records viewed by Insider. Chen estimates that about 5% came from dividends paid by the underlying stocks he had call options on, 10% from capital gains from selling the call options, and the remainder came from premiums.</p><p>He&#39;s now the founder of Call To Leap, a website that teaches financial education around saving and investing, including options trading, for a fee.</p><p>Throughout 2020 and 2021, Chen mainly focused on selling covered calls, an options trade where he purchased shares of a stock and then sold a contract that gave the rights to another trader to purchase those shares at a certain price by a certain date. In exchange, he received a premium for that contract. Most of the time, Chen&#39;s shares weren&#39;t purchased away. This strategy not only allowed him to own stocks that appreciated over time, but also collect a fee on the call option.</p><p>He was also purchasing LEAPS, longer-term options contracts of one year or more that gave him the right to purchase shares away from another trader.</p><p>Covered calls were more profitable when the stock market was trending either neutral or bullish because the value of the underlying stock was increasing. Chen could put his shares to work by collecting premiums and if sold, also collecting capital gains.</p><p>LEAPS were highly profitable for him during the bull market that engulfed most of 2020 and 2021 because they enabled him to hold the rights to purchase shares at a designated price in the future. Since share prices were rising rapidly and faster than the contract decayed, he often didn&#39;t buy the shares but resold that contract at a higher value for a profit.</p><p>This year, stock investors haven&#39;t been as bullish. Year-to-date, the S&amp;P 500 has tumbled by about 19% and the Dow by about 14%.</p><p>Chen told Insider he noticed the downtrend on January 18, after the support line in the S&amp;P 500&#39;s technical chart broke, indicating a reversal pattern to a downward trend. He was also aware that the Federal Reserve was planning on raising interest rates to combat rising inflation. This meant that the downward trend could be strung out.</p><p>These two factors led him to pivot his options strategy to set up what&#39;s known as bear call spreads. This is an advanced options trade that is more ideal in a bear market because it allows a trader to profit from a falling stock price and the time decay of the contract without the risk of incurring unrealized losses due to the falling price of the underlying stock. This is because Chen doesn&#39;t need to actually buy the shares he&#39;s placing under contract.</p><p>Chen says the strategy isn&#39;t for everybody. This approach is for traders who have already been options trading in bullish and neutral markets and want to pivot to doing it in a bear market. Additionally, users often won&#39;t have access to this option in their brokerage account if they haven&#39;t been trading more basic options.</p><p><b>Setting up bear call spreads</b></p><p>Setting up a bear call spread requires two main steps.</p><p>First, Chen needs to buy an out-of-the-money call option, which will act as a proxy for the shares he plans to sell under contract. He needs to do this because brokerages often won&#39;t allow traders to sell a call option contract unless they can cover themselves. Since Chen doesn&#39;t want to buy the actual shares, he purchases a covered call for the same number of shares he plans on selling. The strike price, which is the price he agrees to pay, is out-of-the-money because it&#39;s above the stock price.</p><p>In reality, he has no intention of executing this contract because it has a high strike price. Yet he chooses it because it has a lower premium.</p><p>Once he&#39;s covered, he sells a different out-of-the-money call option that matches the number of shares and expiry date from the call option he purchased. This time, he sets a strike price that would earn him a premium higher than the purchased contract.</p><p>In the event that the trader who purchased Chen&#39;s call option decides to exercise the contract and take possession of the shares, Chen would need to purchase those shares to deliver on the contract. To avoid being in a position where he overpays for the stock, he sets up a third step, which is a buy stop order slightly below the strike price of the call option he sold. Traders who don&#39;t take this third step would have to purchase the shares at market value and risk incurring a realized loss.</p><p>&#34;My intention is to not let the stock [price] surpass my sold call option contract strike [price],&#34; Chen said.</p><p>One example of him setting up a bear call spread was on June 26, when he bought four call options for AMD with a strike price of $150 that expired on July 15. At the time, AMD was trading at around $87. The contracts cost him $82.64. Once he established his proxy, he sold four call options of AMD at a strike price of $125. The premium he earned on that contract was $525.34.</p><p>He then set up a buy stop order at a share price of $124. This way, if his shares were called away, he&#39;d sell them with a capital gain of $1 on each share for a total of $400. However, in this instance, Chen kept his shares. Therefore, after deducting the cost of the call order he purchased, his total profit from the premium was $442.70, according to records viewed by Insider. In the event his buy order was executed appropriately and his shares were also sold, he could have had a total profit of $842.70.</p><p>Chen will also reduce his risk by purchasing his call option back when the contract loses 50% to 80% of its value. This allows him to pay less than what he initially sold the call option for and close the contract. In turn, reducing the number of days he&#39;s at risk. He sets expiration dates that range from 30 to 45 days out.</p><p>Chen teaches his students to pick expiration dates two to five weeks out because that&#39;s when the theta decay, which is the rate of decline in the value of the contract over time, is fastest, while the premium collected is optimal. The goal is to get both options to expire worthless as fast as possible during a downward trend.</p><p><b>Risks</b></p><p>One of the main risks Chen considers when setting up the options trade is the possibility of a buy stop order not executing. This could happen if the stock&#39;s price moves up too quickly. To avoid this, he will set up a buy stop market order rather than a buy stop limit order. The former will purchase the shares once it surpasses the set price even if it&#39;s slightly above. On the other end, the latter will only execute a buy order at exactly the set price.</p><p>While his risk is reduced, he may end up paying slightly over the price he intended. So far this incident has only happened to him once when Nike&#39;s (NKE) stock price shot up in September of 2020. Chen told Insider that by the time the buy order was executed, it was above his contract&#39;s strike price. Therefore, he purchased the shares at a higher price than what he sold them for.</p><p>The second risk happens when a buy order executes while the stock&#39;s price is rising but then the price drops before the trader decides to purchase his shares away. This could leave Chen with an unrealized loss.</p><p>For example, in 2020, Chen recalls setting up a bear call spread on AMD. The buy stop ordered was triggered but the shares were not purchased away from him. He was left with AMD shares that didn&#39;t move up in value. To mitigate his losses, he converted the trade into a covered call and kept collecting premiums on it until the shares were called away, sending him into a net positive.</p><p><b>3 criteria for picking the underlying stocks</b></p><p>In the event Chen ends up with an executed buy stop order but the shares aren&#39;t sold, he wants to ensure he&#39;s still holding stocks that have a higher probability of appreciating in the long term. Therefore, he sticks to what he believes are quality stocks.</p><ol><li>He picks stocks that are in the S&amp;P 500 or the Dow Jones Industrial Average because there is more institutional involvement and they have a higher probability of increasing in the long term.</li><li>He picks companies with strong fundamentals, which include consistent revenue growth and selling high-demand products or services.</li><li>The company&#39;s historical stock chart has a strong upward trend, especially over the past five years.</li></ol></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>How to Trade Options in a Bear Market: Retired Math Teacher</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\">\nHow to Trade Options in a Bear Market: Retired Math Teacher\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-19 15:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businessinsider.com/how-to-trade-options-in-bear-market-stocks-strategy-risks-2022-7><strong>Business Insider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.This year, he pivoted to bear call spreads because the market became bullish.It allows him to earn ...</p>\n\n<a href=\"https://www.businessinsider.com/how-to-trade-options-in-bear-market-stocks-strategy-risks-2022-7\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.businessinsider.com/how-to-trade-options-in-bear-market-stocks-strategy-risks-2022-7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185506686","content_text":"Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.This year, he pivoted to bear call spreads because the market became bullish.It allows him to earn premiums and some capital gains without buying the underlying stocks.Steve Chen became financially free at the age of 33. Steve ChenSteve Chen spent his career as a middle-school math teacher until he retired from the job at the early age of 33 in February 2020.He hadn't initially planned to leave that early. However, after landing his first $5,000 paycheck and seeing what he was left with after all the deductions were made, he realized he needed to find additional income streams.One key takeaway he had after reading examples of others retiring early was that investing every month was a key factor in growing wealth. So he opened a brokerage account and began by simply investing in companies he was familiar with and broad-market exchange-traded funds such as Vanguard 500 (VOO), which tracks the S&P 500.As Chen became more familiar with investing by watching YouTube videos and reading blogs, he began to explore options trading, which took off for him in 2020.By 2021, between his retirement and brokerage accounts, he had a net profit of $76,925.88 from options trading, according to records viewed by Insider. Chen estimates that about 5% came from dividends paid by the underlying stocks he had call options on, 10% from capital gains from selling the call options, and the remainder came from premiums.He's now the founder of Call To Leap, a website that teaches financial education around saving and investing, including options trading, for a fee.Throughout 2020 and 2021, Chen mainly focused on selling covered calls, an options trade where he purchased shares of a stock and then sold a contract that gave the rights to another trader to purchase those shares at a certain price by a certain date. In exchange, he received a premium for that contract. Most of the time, Chen's shares weren't purchased away. This strategy not only allowed him to own stocks that appreciated over time, but also collect a fee on the call option.He was also purchasing LEAPS, longer-term options contracts of one year or more that gave him the right to purchase shares away from another trader.Covered calls were more profitable when the stock market was trending either neutral or bullish because the value of the underlying stock was increasing. Chen could put his shares to work by collecting premiums and if sold, also collecting capital gains.LEAPS were highly profitable for him during the bull market that engulfed most of 2020 and 2021 because they enabled him to hold the rights to purchase shares at a designated price in the future. Since share prices were rising rapidly and faster than the contract decayed, he often didn't buy the shares but resold that contract at a higher value for a profit.This year, stock investors haven't been as bullish. Year-to-date, the S&P 500 has tumbled by about 19% and the Dow by about 14%.Chen told Insider he noticed the downtrend on January 18, after the support line in the S&P 500's technical chart broke, indicating a reversal pattern to a downward trend. He was also aware that the Federal Reserve was planning on raising interest rates to combat rising inflation. This meant that the downward trend could be strung out.These two factors led him to pivot his options strategy to set up what's known as bear call spreads. This is an advanced options trade that is more ideal in a bear market because it allows a trader to profit from a falling stock price and the time decay of the contract without the risk of incurring unrealized losses due to the falling price of the underlying stock. This is because Chen doesn't need to actually buy the shares he's placing under contract.Chen says the strategy isn't for everybody. This approach is for traders who have already been options trading in bullish and neutral markets and want to pivot to doing it in a bear market. Additionally, users often won't have access to this option in their brokerage account if they haven't been trading more basic options.Setting up bear call spreadsSetting up a bear call spread requires two main steps.First, Chen needs to buy an out-of-the-money call option, which will act as a proxy for the shares he plans to sell under contract. He needs to do this because brokerages often won't allow traders to sell a call option contract unless they can cover themselves. Since Chen doesn't want to buy the actual shares, he purchases a covered call for the same number of shares he plans on selling. The strike price, which is the price he agrees to pay, is out-of-the-money because it's above the stock price.In reality, he has no intention of executing this contract because it has a high strike price. Yet he chooses it because it has a lower premium.Once he's covered, he sells a different out-of-the-money call option that matches the number of shares and expiry date from the call option he purchased. This time, he sets a strike price that would earn him a premium higher than the purchased contract.In the event that the trader who purchased Chen's call option decides to exercise the contract and take possession of the shares, Chen would need to purchase those shares to deliver on the contract. To avoid being in a position where he overpays for the stock, he sets up a third step, which is a buy stop order slightly below the strike price of the call option he sold. Traders who don't take this third step would have to purchase the shares at market value and risk incurring a realized loss.\"My intention is to not let the stock [price] surpass my sold call option contract strike [price],\" Chen said.One example of him setting up a bear call spread was on June 26, when he bought four call options for AMD with a strike price of $150 that expired on July 15. At the time, AMD was trading at around $87. The contracts cost him $82.64. Once he established his proxy, he sold four call options of AMD at a strike price of $125. The premium he earned on that contract was $525.34.He then set up a buy stop order at a share price of $124. This way, if his shares were called away, he'd sell them with a capital gain of $1 on each share for a total of $400. However, in this instance, Chen kept his shares. Therefore, after deducting the cost of the call order he purchased, his total profit from the premium was $442.70, according to records viewed by Insider. In the event his buy order was executed appropriately and his shares were also sold, he could have had a total profit of $842.70.Chen will also reduce his risk by purchasing his call option back when the contract loses 50% to 80% of its value. This allows him to pay less than what he initially sold the call option for and close the contract. In turn, reducing the number of days he's at risk. He sets expiration dates that range from 30 to 45 days out.Chen teaches his students to pick expiration dates two to five weeks out because that's when the theta decay, which is the rate of decline in the value of the contract over time, is fastest, while the premium collected is optimal. The goal is to get both options to expire worthless as fast as possible during a downward trend.RisksOne of the main risks Chen considers when setting up the options trade is the possibility of a buy stop order not executing. This could happen if the stock's price moves up too quickly. To avoid this, he will set up a buy stop market order rather than a buy stop limit order. The former will purchase the shares once it surpasses the set price even if it's slightly above. On the other end, the latter will only execute a buy order at exactly the set price.While his risk is reduced, he may end up paying slightly over the price he intended. So far this incident has only happened to him once when Nike's (NKE) stock price shot up in September of 2020. Chen told Insider that by the time the buy order was executed, it was above his contract's strike price. Therefore, he purchased the shares at a higher price than what he sold them for.The second risk happens when a buy order executes while the stock's price is rising but then the price drops before the trader decides to purchase his shares away. This could leave Chen with an unrealized loss.For example, in 2020, Chen recalls setting up a bear call spread on AMD. The buy stop ordered was triggered but the shares were not purchased away from him. He was left with AMD shares that didn't move up in value. To mitigate his losses, he converted the trade into a covered call and kept collecting premiums on it until the shares were called away, sending him into a net positive.3 criteria for picking the underlying stocksIn the event Chen ends up with an executed buy stop order but the shares aren't sold, he wants to ensure he's still holding stocks that have a higher probability of appreciating in the long term. Therefore, he sticks to what he believes are quality stocks.He picks stocks that are in the S&P 500 or the Dow Jones Industrial Average because there is more institutional involvement and they have a higher probability of increasing in the long term.He picks companies with strong fundamentals, which include consistent revenue growth and selling high-demand products or services.The company's historical stock chart has a strong upward trend, especially over the past five years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":121,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9970798332,"gmtCreate":1684928023626,"gmtModify":1684928027829,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Revenue vs market cap also very big multiple&nbsp;","listText":"Revenue vs market cap also very big multiple&nbsp;","text":"Revenue vs market cap also very big multiple","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970798332","repostId":"2337457950","repostType":2,"repost":{"id":"2337457950","pubTimestamp":1684927292,"share":"https://www.laohu8.com/m/news/2337457950?lang=&edition=full","pubTime":"2023-05-24 19:21","market":"us","language":"en","title":"1 Monster Opportunity in the Global Chip Shortage","url":"https://stock-news.laohu8.com/highlight/detail?id=2337457950","media":"Motley Fool","summary":"This chip giant seems to be enjoying solid demand thanks to the growing adoption of artificial intelligence applications.","content":"<html><head></head><body><p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That&#39;s when the demand for electronic devices skyrocketed thanks to shelter-in-place orders, and it led to a spurt in sales of personal computers (PCs), gaming consoles, and smartphones, among other things.</p><p>While the semiconductor shortage has eased somewhat since (partly because the pent-up demand for consumer electronics devices subsided and because chipmakers brought more capacity online), there is one area where chip scarcity is rearing its head once again.</p><p>Tech-focused business publication <em>The Information</em> pointed out last month that there was a massive spike in demand for server chips required for training and running artificial intelligence (AI) applications. That&#39;s not surprising as the AI chip market is expected to generate over $227 billion in annual revenue by 2032, clocking yearly growth of 30% over the next decade.</p><p>One company stands to win big from this market -- <a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>. And the evidence for that can be seen in the emerging shortage of AI chips. Let&#39;s take a closer look at what&#39;s going on in the chip markets and how it might benefit Nvidia stock owners.</p><h2>Customers are reportedly waiting to get their hands on Nvidia&#39;s chips</h2><p>According to <em>The Information</em>, cloud infrastructure providers such as <strong>Amazon</strong>, <strong>Microsoft</strong>, <strong>Alphabet</strong>&#39;s Google, and <strong>Oracle</strong> are running at capacity thanks to the booming demand for AI software. Training and running AI software and workload requires graphics processing units (GPUs), which are chips capable of computing massive amounts of data.</p><p>Nvidia is the leader in the GPU market. The company controls 85% of discrete graphics cards that are used by gamers in PCs, while its share of enterprise GPUs (which are deployed in data centers for AI and other workloads) reportedly stands at more than 90%. So, it is not surprising to see that there is a waiting period for Nvidia&#39;s GPUs.</p><p>The semiconductor giant is reportedly sitting on an order backlog of two to three months for its cloud server chips. It is now feared that the waiting time for Nvidia&#39;s chips will slow down the development of generative AI applications. However, there are a few reasons why Nvidia may be able to overcome this shortage and speed up customers&#39; AI initiatives.</p><h2>The tech giant is setting itself up to take advantage of this massive market</h2><p>Nvidia is reportedly placing more chip orders with its foundry partner <strong>Taiwan Semiconductor Manufacturing</strong>, popularly known as TSMC. Taiwan-based newspaper <em>DigiTimes</em> reports that TSMC has reportedly committed to delivering 10% to 20% additional chip on wafer on substrate (CoWoS) packaging to Nvidia that is meant for deployment in high-performance computing (HPC) applications.</p><p>More importantly, Nvidia&#39;s new generation of data center GPUs could reduce the number of chips needed to train and run AI models. The company&#39;s latest generation H100 Hopper data center GPUs are reportedly up to 9 times faster in training AI models and 30 times faster during inferencing. What&#39;s more, Nvidia is providing access to a much faster AI chip at prices that are reportedly two to three times its previous generation A100 data center GPUs that are powering Microsoft and OpenAI&#39;s popular chatbot ChatGPT.</p><p>In simpler words, Nvidia customers can now tackle much larger AI workloads with the H100 GPUs at an incrementally lower price as compared to the company&#39;s prior-generation A100 GPUs. So, it won&#39;t be surprising to see the demand for Nvidia&#39;s H100 GPUs improve in the future, especially considering that customers will need fewer of those chips to meet their AI-related needs.</p><p>Given that the H100 GPUs are priced significantly higher than their predecessors, Nvidia could witness stronger margins and enjoy robust earnings growth in the long run. The good part is that Nvidia&#39;s H100 GPUs are already witnessing healthy demand as they are powering multiple generative AI applications from different customers.</p><p>All this indicates that Nvidia could continue to dominate the AI chip market. One Wall Street analyst says that the AI opportunity could lead to a 5-times jump in Nvidia&#39;s stock price over the next decade. So, investors who are still of two minds about buying Nvidia stock following its 114% gains in 2023 can still consider buying the stock.</p><p>Of course, some might argue that Nvidia trades at an expensive 173 times trailing earnings right now. However, its forward price-to-earnings (P/E) ratio of 67 points toward a solid bottom-line jump, which means that investors with the risk appetite to buy this richly valued AI stock can still buy it as it can deliver more upside even after terrific gains in 2023.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>1 Monster Opportunity in the Global Chip Shortage</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\">\n1 Monster Opportunity in the Global Chip Shortage\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-24 19:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2337457950","content_text":"The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed thanks to shelter-in-place orders, and it led to a spurt in sales of personal computers (PCs), gaming consoles, and smartphones, among other things.While the semiconductor shortage has eased somewhat since (partly because the pent-up demand for consumer electronics devices subsided and because chipmakers brought more capacity online), there is one area where chip scarcity is rearing its head once again.Tech-focused business publication The Information pointed out last month that there was a massive spike in demand for server chips required for training and running artificial intelligence (AI) applications. That's not surprising as the AI chip market is expected to generate over $227 billion in annual revenue by 2032, clocking yearly growth of 30% over the next decade.One company stands to win big from this market -- Nvidia. And the evidence for that can be seen in the emerging shortage of AI chips. Let's take a closer look at what's going on in the chip markets and how it might benefit Nvidia stock owners.Customers are reportedly waiting to get their hands on Nvidia's chipsAccording to The Information, cloud infrastructure providers such as Amazon, Microsoft, Alphabet's Google, and Oracle are running at capacity thanks to the booming demand for AI software. Training and running AI software and workload requires graphics processing units (GPUs), which are chips capable of computing massive amounts of data.Nvidia is the leader in the GPU market. The company controls 85% of discrete graphics cards that are used by gamers in PCs, while its share of enterprise GPUs (which are deployed in data centers for AI and other workloads) reportedly stands at more than 90%. So, it is not surprising to see that there is a waiting period for Nvidia's GPUs.The semiconductor giant is reportedly sitting on an order backlog of two to three months for its cloud server chips. It is now feared that the waiting time for Nvidia's chips will slow down the development of generative AI applications. However, there are a few reasons why Nvidia may be able to overcome this shortage and speed up customers' AI initiatives.The tech giant is setting itself up to take advantage of this massive marketNvidia is reportedly placing more chip orders with its foundry partner Taiwan Semiconductor Manufacturing, popularly known as TSMC. Taiwan-based newspaper DigiTimes reports that TSMC has reportedly committed to delivering 10% to 20% additional chip on wafer on substrate (CoWoS) packaging to Nvidia that is meant for deployment in high-performance computing (HPC) applications.More importantly, Nvidia's new generation of data center GPUs could reduce the number of chips needed to train and run AI models. The company's latest generation H100 Hopper data center GPUs are reportedly up to 9 times faster in training AI models and 30 times faster during inferencing. What's more, Nvidia is providing access to a much faster AI chip at prices that are reportedly two to three times its previous generation A100 data center GPUs that are powering Microsoft and OpenAI's popular chatbot ChatGPT.In simpler words, Nvidia customers can now tackle much larger AI workloads with the H100 GPUs at an incrementally lower price as compared to the company's prior-generation A100 GPUs. So, it won't be surprising to see the demand for Nvidia's H100 GPUs improve in the future, especially considering that customers will need fewer of those chips to meet their AI-related needs.Given that the H100 GPUs are priced significantly higher than their predecessors, Nvidia could witness stronger margins and enjoy robust earnings growth in the long run. The good part is that Nvidia's H100 GPUs are already witnessing healthy demand as they are powering multiple generative AI applications from different customers.All this indicates that Nvidia could continue to dominate the AI chip market. One Wall Street analyst says that the AI opportunity could lead to a 5-times jump in Nvidia's stock price over the next decade. So, investors who are still of two minds about buying Nvidia stock following its 114% gains in 2023 can still consider buying the stock.Of course, some might argue that Nvidia trades at an expensive 173 times trailing earnings right now. However, its forward price-to-earnings (P/E) ratio of 67 points toward a solid bottom-line jump, which means that investors with the risk appetite to buy this richly valued AI stock can still buy it as it can deliver more upside even after terrific gains in 2023.","news_type":1},"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947601218,"gmtCreate":1683006487435,"gmtModify":1683006959041,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Did First Republic Back management escape unscathed??","listText":"Did First Republic Back management escape unscathed??","text":"Did First Republic Back management escape unscathed??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947601218","repostId":"2332671317","repostType":2,"repost":{"id":"2332671317","pubTimestamp":1682999653,"share":"https://www.laohu8.com/m/news/2332671317?lang=&edition=full","pubTime":"2023-05-02 11:54","market":"us","language":"en","title":"JPMorgan Chase Buys First Republic After FDIC Seizure: Is the Banking Crisis Over?","url":"https://stock-news.laohu8.com/highlight/detail?id=2332671317","media":"Motley Fool","summary":"JPMorgan CEO Jamie Dimon: \"Everyone should just take a deep breath.\"","content":"<html><head></head><body><p>The saga of <a href=\"https://laohu8.com/S/FRC\">First Republic Bank</a> came to a close over the weekend, as the Federal Deposit Insurance Corporation (FDIC) took over the San Francisco-based financial institution. The regulatory agency then entered into an agreement with the banking subsidiary of <a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase </a> under which the Wall Street giant will assume all of First Republic&#39;s deposits and substantially all of the embattled bank&#39;s assets.</p><p>The move is the latest in a series of bank failures this year, and it once again raised concerns about the stability of the financial system more broadly. But the news was good for depositors of First Republic, and JPMorgan&#39;s stock was up Monday morning.</p><h2>How did the deal get done?</h2><p>The FDIC held a snap auction, soliciting competitive bids from several different financial institutions. Various reports named banks including <a href=\"https://laohu8.com/S/PNC\">PNC Financial, Citizens Financial</a>, <a href=\"https://laohu8.com/S/USB\">U.S. Bancorp</a>, and Bank of America as possibly having received invitations from the FDIC to request bids for First Republic, although those banks generally chose not to comment on those reports.</p><p>In the end, JPMorgan agreed to acquire $173 billion in loans and $30 billion in securities, taking on responsibility for $92 billion in deposits and $28 billion in Federal Home Loan Bank advances. JPMorgan will pay $10.6 billion to the FDIC, but it did not assume First Republic&#39;s corporate debt or preferred stock obligations.</p><p>In addition, the FDIC agreed to enter into a loss-share transaction with JPMorgan under which the agency will provide 80% loss coverage for seven years on mortgage loans and five years on commercial loans. The two entities will share in losses and potential recoveries on the loans covered under the agreement. The FDIC believes that by keeping those bank assets in the private sector rather than bringing them into the public auction process, it and JPMorgan will get the most in recoveries over the long run. Moreover, the arrangement will be less disruptive for loan customers, many of whom may avoid seeing changes or efforts to renegotiate terms.</p><p>The FDIC estimates there will be a $13 billion cost to the Deposit Insurance Fund, which is paid for mostly by financial institutions and contains no taxpayer money.</p><h2>What the FDIC-JPMorgan deal means for bank customers</h2><p>For current First Republic customers, the FDIC&#39;s arrangement with JPMorgan ensures an orderly continuation of business. The 84 branch offices that First Republic has in eight different states will reopen Monday as new branches of JPMorgan Chase.</p><p>Accountholders will have full access to their deposits with no delays, and those deposits will remain insured by the FDIC. Customers won&#39;t have to do anything to retain deposit insurance up to applicable limits. As for those who worked at First Republic, JPMorgan said that it was &#34;committed to treating  employees with respect, care and transparency.&#34;</p><h2>Why JPMorgan stock is climbing</h2><p>For JPMorgan Chase, the move was a win, and the stock climbed 2.5% when trading opened Monday. As the bank sees it, it will get an internal rate of return of more than 20% on the deal while maintaining capital ratios at strong levels. JPMorgan expects a better than $500 million accretion to net income and believes that the transaction will boost its tangible book value per share.</p><p>Strategically, the move also favors JPMorgan&#39;s business. First Republic concentrated on high-net-worth clients who should be interested in JPMorgan&#39;s growing wealth management business. Branch locations on the West Coast will also add to JPMorgan&#39;s physical footprint, supporting further expansion.</p><h2>So is the banking crisis over?</h2><p>For JPMorgan&#39;s part, CEO Jamie Dimon already said early in April that he believed  the banking crisis was nearing an end. He didn&#39;t foreclose the possibility of further individual bank failures, but as long as none of the problems with any given bank led to a domino effect of contagion with other financial institutions, Dimon believed that such failures could be orderly and not affect the safety of the banking system as a whole.</p><p>In Monday morning&#39;s conference call on the deal, Dimon reiterated that sentiment: &#34;No crystal ball is perfect, but yes, I think the banking system is very stable. ... This part of the crisis is over. That does not -- down the road, there are rates going way up, real estate, recession, that&#39;s a whole different issue. But for now, everyone should just take a deep breath.&#34;</p><p>What is certain is that scrutiny of regional banks has never been higher, and many banking officials across the industry expect that the failure of First Republic and other banks will result in greater regulation. That could eventually have implications for investors, but they would be less dramatic than the abrupt collapses we&#39;ve seen recently.</p><p>Bank investors can expect to keep hearing news about various regional banks and their exposure to bond losses and potential deposit outflows for a while. As all the skeletons in the closet get discovered, though, the chances of an all-out crisis should diminish.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Chase Buys First Republic After FDIC Seizure: Is the Banking Crisis Over?</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\">\nJPMorgan Chase Buys First Republic After FDIC Seizure: Is the Banking Crisis Over?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-02 11:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/05/01/jpmorgan-buys-first-republic-banking-crisis-over/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The saga of First Republic Bank came to a close over the weekend, as the Federal Deposit Insurance Corporation (FDIC) took over the San Francisco-based financial institution. The regulatory agency ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/01/jpmorgan-buys-first-republic-banking-crisis-over/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU1261432733.SGD":"Fidelity World A-ACC-SGD","SG9999002232.USD":"Allianz Global High Payout USD","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","SG9999002224.SGD":"Allianz Global High Payout SGD","BK4566":"资本集团","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0106831901.USD":"贝莱德世界金融基金A2","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4550":"红杉资本持仓","BK4588":"碎股","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0971096721.USD":"富达环球金融服务 A","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","BK4207":"综合性银行","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","BK4581":"高盛持仓","LU0882574139.USD":"富达环球消费行业基金A ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4504":"桥水持仓","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","FRCB":"第一共和银行","JPM":"摩根大通","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"source_url":"https://www.fool.com/investing/2023/05/01/jpmorgan-buys-first-republic-banking-crisis-over/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2332671317","content_text":"The saga of First Republic Bank came to a close over the weekend, as the Federal Deposit Insurance Corporation (FDIC) took over the San Francisco-based financial institution. The regulatory agency then entered into an agreement with the banking subsidiary of JPMorgan Chase  under which the Wall Street giant will assume all of First Republic's deposits and substantially all of the embattled bank's assets.The move is the latest in a series of bank failures this year, and it once again raised concerns about the stability of the financial system more broadly. But the news was good for depositors of First Republic, and JPMorgan's stock was up Monday morning.How did the deal get done?The FDIC held a snap auction, soliciting competitive bids from several different financial institutions. Various reports named banks including PNC Financial, Citizens Financial, U.S. Bancorp, and Bank of America as possibly having received invitations from the FDIC to request bids for First Republic, although those banks generally chose not to comment on those reports.In the end, JPMorgan agreed to acquire $173 billion in loans and $30 billion in securities, taking on responsibility for $92 billion in deposits and $28 billion in Federal Home Loan Bank advances. JPMorgan will pay $10.6 billion to the FDIC, but it did not assume First Republic's corporate debt or preferred stock obligations.In addition, the FDIC agreed to enter into a loss-share transaction with JPMorgan under which the agency will provide 80% loss coverage for seven years on mortgage loans and five years on commercial loans. The two entities will share in losses and potential recoveries on the loans covered under the agreement. The FDIC believes that by keeping those bank assets in the private sector rather than bringing them into the public auction process, it and JPMorgan will get the most in recoveries over the long run. Moreover, the arrangement will be less disruptive for loan customers, many of whom may avoid seeing changes or efforts to renegotiate terms.The FDIC estimates there will be a $13 billion cost to the Deposit Insurance Fund, which is paid for mostly by financial institutions and contains no taxpayer money.What the FDIC-JPMorgan deal means for bank customersFor current First Republic customers, the FDIC's arrangement with JPMorgan ensures an orderly continuation of business. The 84 branch offices that First Republic has in eight different states will reopen Monday as new branches of JPMorgan Chase.Accountholders will have full access to their deposits with no delays, and those deposits will remain insured by the FDIC. Customers won't have to do anything to retain deposit insurance up to applicable limits. As for those who worked at First Republic, JPMorgan said that it was \"committed to treating  employees with respect, care and transparency.\"Why JPMorgan stock is climbingFor JPMorgan Chase, the move was a win, and the stock climbed 2.5% when trading opened Monday. As the bank sees it, it will get an internal rate of return of more than 20% on the deal while maintaining capital ratios at strong levels. JPMorgan expects a better than $500 million accretion to net income and believes that the transaction will boost its tangible book value per share.Strategically, the move also favors JPMorgan's business. First Republic concentrated on high-net-worth clients who should be interested in JPMorgan's growing wealth management business. Branch locations on the West Coast will also add to JPMorgan's physical footprint, supporting further expansion.So is the banking crisis over?For JPMorgan's part, CEO Jamie Dimon already said early in April that he believed  the banking crisis was nearing an end. He didn't foreclose the possibility of further individual bank failures, but as long as none of the problems with any given bank led to a domino effect of contagion with other financial institutions, Dimon believed that such failures could be orderly and not affect the safety of the banking system as a whole.In Monday morning's conference call on the deal, Dimon reiterated that sentiment: \"No crystal ball is perfect, but yes, I think the banking system is very stable. ... This part of the crisis is over. That does not -- down the road, there are rates going way up, real estate, recession, that's a whole different issue. But for now, everyone should just take a deep breath.\"What is certain is that scrutiny of regional banks has never been higher, and many banking officials across the industry expect that the failure of First Republic and other banks will result in greater regulation. That could eventually have implications for investors, but they would be less dramatic than the abrupt collapses we've seen recently.Bank investors can expect to keep hearing news about various regional banks and their exposure to bond losses and potential deposit outflows for a while. As all the skeletons in the closet get discovered, though, the chances of an all-out crisis should diminish.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947884445,"gmtCreate":1682924140888,"gmtModify":1682924145309,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","listText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","text":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947884445","repostId":"1139971500","repostType":2,"repost":{"id":"1139971500","pubTimestamp":1682898506,"share":"https://www.laohu8.com/m/news/1139971500?lang=&edition=full","pubTime":"2023-05-01 07:48","market":"us","language":"en","title":"Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans","url":"https://stock-news.laohu8.com/highlight/detail?id=1139971500","media":"Financial Times","summary":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American ban","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/421f865ff9ae1b182c5661175627c32a\" alt=\" \t\" title=\" \t\" tg-width=\"700\" tg-height=\"394\"/><span> \t</span></p><p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.</p><p>The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.</p><p>“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.”</p><p>Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles where he has lived for 60 years since he designed the property himself.</p><p>Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.</p><p>Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.</p><p>But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.”</p><p>Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”</p><p>He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.”</p><p>Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67b9dc3399d647d6e77df5fadee12f22\" title=\"Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959\" tg-width=\"700\" tg-height=\"466\"/><span>Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959</span></p><p>Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.</p><p>In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.”</p><p>This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&amp;P 500 stock index, since 1965.</p><p>“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding he had lived during “a perfect period to be a common stock investor”.</p><p>He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities ”, he said.</p><p>Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.</p><p>“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.”</p><p>Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.</p><p>But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.</p><p>“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.</p><p>“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.</p><p>Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.</p><p>Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.</p><p>He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”</p><p>“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.”</p><p>Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.”</p><p>On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”</p></body></html>","source":"lsy1580170736413","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>Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans</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\">\nCharlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-01 07:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b><strong>Financial Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old...</p>\n\n<a href=\"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","C":"花旗","BRK.B":"伯克希尔B","WFC":"富国银行","JPM":"摩根大通","BAC":"美国银行","BX":"黑石"},"source_url":"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139971500","content_text":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.”Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles where he has lived for 60 years since he designed the property himself.Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.”Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.”Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.”This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&P 500 stock index, since 1965.“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding he had lived during “a perfect period to be a common stock investor”.He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities ”, he said.Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.”Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.”Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.”On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944772719,"gmtCreate":1682302365731,"gmtModify":1682304425740,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Fed is in between a rock and a hard place","listText":"Fed is in between a rock and a hard place","text":"Fed is in between a rock and a hard place","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944772719","repostId":"1111405907","repostType":2,"repost":{"id":"1111405907","pubTimestamp":1682292585,"share":"https://www.laohu8.com/m/news/1111405907?lang=&edition=full","pubTime":"2023-04-24 07:29","market":"us","language":"en","title":"Musk Sees Parallels With The 1929 Crash And The Great Depression","url":"https://stock-news.laohu8.com/highlight/detail?id=1111405907","media":"Seeking Alpha","summary":"SummaryThe Fed is currently hiking into a recession, like in 1929.But the Fed also hiked during othe","content":"<html><head></head><body><h2 style=\"text-align: left;\">Summary</h2><ul><li><p>The Fed is currently hiking into a recession, like in 1929.</p></li><li><p>But the Fed also hiked during other recessions, like in 1974.</p></li><li><p>History shows that the Fed hikes if necessary, despite the economic and financial damage.</p></li><li><p>Given the current situation, the outlook for S&amp;P 500 is very bearish.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d1e4942b3fa514191bf65dc2a4b5a42f\" alt=\"\" title=\"\" tg-width=\"750\" tg-height=\"500\"/></p><h2>The Musk concerns:</h2><p>Elon Musk conducted an interview with Fox host Tucker Carlson that aired on April 19, and among other things discussed the current banking crisis, the Fed, and expressed his opinion on the economic outlook.</p><p>Musk pointed that one of the times the Fed hiked interest rates into a recession was in 1929, which was followed with the Great Depression. Here are the key excerpts:</p><blockquote>Tucker Carlson: What&#39;s your sense of the stability of the American banking system?Elon Musk: ...I think there is a serious danger with the global banking system. There&#39;s a strong argument that the - if you were to actually market the portfolios of the banks, the loans, and whatnot, that the entire banking industry would have negative equity....So we really haven&#39;t seen the commercial real estate shoe drop. That&#39;s more like an anvil, not a shoe. So the stuff we&#39;ve seen so far hasn&#39;t even actually hasn&#39;t even - it&#39;s only slightly real estate portfolio degradation. But that will become a very serious thing later this year, in my view... I think if we see, which we&#39;re likely to see, a drop in house prices, because the interest rates are too high.....And so if banks end up having loan losses in both their commercial and - well they&#39;re definitely going to have loan losses in their professional portfolio but also in their mortgage portfolio, this is a dire situation....There is a solution to mitigate the magnitude of the damage here, which is for the Fed to lower the rate. But they raised the rate again. Now, if I recall correctly, which I, you know, important caveat I think the last time the Fed raised rates going into a recession was 1929.Carlson: What happened then?Musk: Yeah, the Great Depression.</blockquote><p>Musk obviously does not think that the current banking crisis is finished. He&#39;s concerned that the banks (KRE) could start seeing the losses on their commercial real estate loan portfolios (due to high vacancies and higher interest rates). He&#39;s also concerned that higher interest rates could cause the housing prices to fall, which would increase the losses on the banks&#39; mortgage loan portfolios as well.</p><p>Musk thinks that he Fed should be decreasing the interest rates in this situation. More importantly, he seems concerned that the further increases in interest rates could lead to the major financial crisis like the Great Depression, referencing the Fed&#39;s &#34;error&#34; in 1929.</p><h2>What happened in 1929?</h2><p>The Fed did increase interest rate in 1929 right as the Great Depression started, from 5.25% to 6.50%. Here&#39;s the chart:</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edf09ae89b94f5d45c4dd8b5f5c4f6ff\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"292\"/></p><p>By most historical accounts, the Fed was concerned with the high stock market valuations and the excess speculation. The banks played the key role by participating in a very profitable virtuous cycle: 1) Extend the margin credit to buy stocks, 2) higher stock prices lead to more wealth, 3) more wealth leads to more consumption, 4) more consumption leads to more loans, 5) more loans lead to more profits, and thus, 6) extend more margin credit to buy stocks - the virtuous cycle continues. Apparently, the banks ignored the Fed&#39;s warning about the dangers of such activity, so the Fed was forced to hike into the recession.</p><p>At the end, the virtuous cycle turned into the vicious cycle of deflation, where higher interest rates busted the stock market bubble, which caused the default on consumer loans, and the bank runs, which lead to widespread bank failures, and ultimately the deflationary spiral.</p><h2>The Fed hiked during the recession in other episodes</h2><p>But the Fed also hiked during the recessions in 1974 and in 1980. Here&#39;s the chart of the Federal Funds rate and CPI inflation.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f8201942def7ef177121ffb9a3eb63f\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"322\"/></p><p>Generally, the Fed hikes before recession to address the inflationary pressures, and then pauses and cuts as the economic and financial damage becomes evident. This was the case of the 1970 recession, as shown in the chart above.</p><p><strong>The 1974 case</strong></p><p>In 1973, the Fed also started to cut before the recession started. However, during the 1974 recession, inflation started to increase, and thus, the Fed was forced to hike during the recession, despite the economic and financial damage.</p><p><strong>The 1980 case</strong></p><p>Similarly, the Fed was forced to aggressively hike during the 1980 recession, as inflation simply would not fall even as the recession started.</p><p><strong>The lesson</strong></p><p>During the 1970, the Fed was primarily concerned with inflation, and showed the willingness to hike interest rates even during the recessions to lower the inflation. Generally, during the inflationary recessions, the Fed is forced to hike well above the CPI inflation, despite the economic and financial damage.</p><h2>What about the current situation?</h2><p>The 1929 case was the deflationary recession case, where the key concern was the stock market bubble due to excess speculation. The 1974 and 1980 cases were the inflationary recession cases, where the major concern was high inflation.</p><p>The current situation combines both of these cases, it&#39;s an inflationary recession with the stock market bubble, which makes it potentially extremely dire.</p><p><strong>Stock market bubble</strong></p><p>First, the based on the Shiller PE ratio, S&amp;P500 (SP500) (SPX) (SPY) is as overvalued now as it was at the peak of the 1929 stock market bubble, with the Shiller PE ratio right below 30 in both cases.</p><p>During the 1970s the Shiller PE ratio was very low, down in the 10s, thus stocks were cheap, which limited the financial damage of the Fed&#39;s recessionary hikes. Here is Schiller PE ratio chart.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f55b136a46c564dd0568f03aaa2e1f17\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"292\"/></p><p><strong>High inflation</strong></p><p>Inflation was not a major problem in 1929. Now it is. The core CPI is still above the Federal Funds rate, above the 5% level. We&#39;re in midst of the inflationary shock caused by the labor shortage, attempted energy shocks, reshoring of supply chains, the real war which can affect the global food supply, all part of the unfolding trend of deglobalization.</p><p>So, the chart below resembles the 1974 episode. The Fed (red) is trying to catch up with inflation (blue), and inflation is falling. However, as soon as the Fed pauses or cuts, inflation is likely to turn back up (due top structural trends related to deglobalization), forcing more Fed hikes despite the likely recession.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f217bd2659419c0eab4e708fdeb576b\" alt=\"\" title=\"\" tg-width=\"640\" tg-height=\"324\"/></p><h2>Implications</h2><p>The Fed is hiking into the recession, Musk is right. And the Fed will likely &#34;hold for longer&#34; despite the inevitable financial and economic damage as the recession takes hold. Why? Just like in 1974, we&#39;re in the midst of the inflationary shock, and if the Fed pauses prematurely, inflation could reaccelerate.</p><p>However, unlike the 1974, we&#39;re also in the stock market bubble, just like in 1929. Thus, the outlook for S&amp;P 500 is extremely bearish.</p><p>The only hope for the bulls is that the Fed would prematurely pause and pivot, and thus, allow the stock market bubble to reaccelerate by allowing higher inflation. Very unlikely. But we will get the first taste of this on May 3 - the next Fed meeting.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Musk Sees Parallels With The 1929 Crash And The Great Depression</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\">\nMusk Sees Parallels With The 1929 Crash And The Great Depression\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-24 07:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4595625-musk-sees-parallels-1929-great-depression><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThe Fed is currently hiking into a recession, like in 1929.But the Fed also hiked during other recessions, like in 1974.History shows that the Fed hikes if necessary, despite the economic and ...</p>\n\n<a href=\"https://seekingalpha.com/article/4595625-musk-sees-parallels-1929-great-depression\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4595625-musk-sees-parallels-1929-great-depression","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1111405907","content_text":"SummaryThe Fed is currently hiking into a recession, like in 1929.But the Fed also hiked during other recessions, like in 1974.History shows that the Fed hikes if necessary, despite the economic and financial damage.Given the current situation, the outlook for S&P 500 is very bearish.The Musk concerns:Elon Musk conducted an interview with Fox host Tucker Carlson that aired on April 19, and among other things discussed the current banking crisis, the Fed, and expressed his opinion on the economic outlook.Musk pointed that one of the times the Fed hiked interest rates into a recession was in 1929, which was followed with the Great Depression. Here are the key excerpts:Tucker Carlson: What's your sense of the stability of the American banking system?Elon Musk: ...I think there is a serious danger with the global banking system. There's a strong argument that the - if you were to actually market the portfolios of the banks, the loans, and whatnot, that the entire banking industry would have negative equity....So we really haven't seen the commercial real estate shoe drop. That's more like an anvil, not a shoe. So the stuff we've seen so far hasn't even actually hasn't even - it's only slightly real estate portfolio degradation. But that will become a very serious thing later this year, in my view... I think if we see, which we're likely to see, a drop in house prices, because the interest rates are too high.....And so if banks end up having loan losses in both their commercial and - well they're definitely going to have loan losses in their professional portfolio but also in their mortgage portfolio, this is a dire situation....There is a solution to mitigate the magnitude of the damage here, which is for the Fed to lower the rate. But they raised the rate again. Now, if I recall correctly, which I, you know, important caveat I think the last time the Fed raised rates going into a recession was 1929.Carlson: What happened then?Musk: Yeah, the Great Depression.Musk obviously does not think that the current banking crisis is finished. He's concerned that the banks (KRE) could start seeing the losses on their commercial real estate loan portfolios (due to high vacancies and higher interest rates). He's also concerned that higher interest rates could cause the housing prices to fall, which would increase the losses on the banks' mortgage loan portfolios as well.Musk thinks that he Fed should be decreasing the interest rates in this situation. More importantly, he seems concerned that the further increases in interest rates could lead to the major financial crisis like the Great Depression, referencing the Fed's \"error\" in 1929.What happened in 1929?The Fed did increase interest rate in 1929 right as the Great Depression started, from 5.25% to 6.50%. Here's the chart:By most historical accounts, the Fed was concerned with the high stock market valuations and the excess speculation. The banks played the key role by participating in a very profitable virtuous cycle: 1) Extend the margin credit to buy stocks, 2) higher stock prices lead to more wealth, 3) more wealth leads to more consumption, 4) more consumption leads to more loans, 5) more loans lead to more profits, and thus, 6) extend more margin credit to buy stocks - the virtuous cycle continues. Apparently, the banks ignored the Fed's warning about the dangers of such activity, so the Fed was forced to hike into the recession.At the end, the virtuous cycle turned into the vicious cycle of deflation, where higher interest rates busted the stock market bubble, which caused the default on consumer loans, and the bank runs, which lead to widespread bank failures, and ultimately the deflationary spiral.The Fed hiked during the recession in other episodesBut the Fed also hiked during the recessions in 1974 and in 1980. Here's the chart of the Federal Funds rate and CPI inflation.Generally, the Fed hikes before recession to address the inflationary pressures, and then pauses and cuts as the economic and financial damage becomes evident. This was the case of the 1970 recession, as shown in the chart above.The 1974 caseIn 1973, the Fed also started to cut before the recession started. However, during the 1974 recession, inflation started to increase, and thus, the Fed was forced to hike during the recession, despite the economic and financial damage.The 1980 caseSimilarly, the Fed was forced to aggressively hike during the 1980 recession, as inflation simply would not fall even as the recession started.The lessonDuring the 1970, the Fed was primarily concerned with inflation, and showed the willingness to hike interest rates even during the recessions to lower the inflation. Generally, during the inflationary recessions, the Fed is forced to hike well above the CPI inflation, despite the economic and financial damage.What about the current situation?The 1929 case was the deflationary recession case, where the key concern was the stock market bubble due to excess speculation. The 1974 and 1980 cases were the inflationary recession cases, where the major concern was high inflation.The current situation combines both of these cases, it's an inflationary recession with the stock market bubble, which makes it potentially extremely dire.Stock market bubbleFirst, the based on the Shiller PE ratio, S&P500 (SP500) (SPX) (SPY) is as overvalued now as it was at the peak of the 1929 stock market bubble, with the Shiller PE ratio right below 30 in both cases.During the 1970s the Shiller PE ratio was very low, down in the 10s, thus stocks were cheap, which limited the financial damage of the Fed's recessionary hikes. Here is Schiller PE ratio chart.High inflationInflation was not a major problem in 1929. Now it is. The core CPI is still above the Federal Funds rate, above the 5% level. We're in midst of the inflationary shock caused by the labor shortage, attempted energy shocks, reshoring of supply chains, the real war which can affect the global food supply, all part of the unfolding trend of deglobalization.So, the chart below resembles the 1974 episode. The Fed (red) is trying to catch up with inflation (blue), and inflation is falling. However, as soon as the Fed pauses or cuts, inflation is likely to turn back up (due top structural trends related to deglobalization), forcing more Fed hikes despite the likely recession.ImplicationsThe Fed is hiking into the recession, Musk is right. And the Fed will likely \"hold for longer\" despite the inevitable financial and economic damage as the recession takes hold. Why? Just like in 1974, we're in the midst of the inflationary shock, and if the Fed pauses prematurely, inflation could reaccelerate.However, unlike the 1974, we're also in the stock market bubble, just like in 1929. Thus, the outlook for S&P 500 is extremely bearish.The only hope for the bulls is that the Fed would prematurely pause and pivot, and thus, allow the stock market bubble to reaccelerate by allowing higher inflation. Very unlikely. But we will get the first taste of this on May 3 - the next Fed meeting.","news_type":1},"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944453407,"gmtCreate":1682048360210,"gmtModify":1682048363978,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Tractor supply company is interesting, not generally mentioned","listText":"Tractor supply company is interesting, not generally mentioned","text":"Tractor supply company is interesting, not generally mentioned","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944453407","repostId":"1168323116","repostType":2,"repost":{"id":"1168323116","pubTimestamp":1682041070,"share":"https://www.laohu8.com/m/news/1168323116?lang=&edition=full","pubTime":"2023-04-21 09:37","market":"us","language":"en","title":"4 U.S. Growth Stocks Whose Share Prices Can Continue Climbing","url":"https://stock-news.laohu8.com/highlight/detail?id=1168323116","media":"The Smart Investor","summary":"Growth stocks had been badly hammered last year as the pandemic receded and interest rates surged.It didn’t help that many technology companies also announced layoffs in a tacit admission that they ha","content":"<html><head></head><body><p>Growth stocks had been badly hammered last year as the pandemic receded and <u>interest rates</u> surged.</p><p style=\"text-align: start;\">It didn’t help that many technology companies also announced <u>layoffs</u> in a tacit admission that they had been too exuberant over their prospects.</p><p style=\"text-align: start;\">However, I will argue that several companies still have what it takes to deliver growth amid these challenging conditions.</p><p style=\"text-align: start;\">Investors need to latch on to businesses with strong franchises and possess dominant market positions within their respective sectors.</p><p style=\"text-align: start;\">These attributes, along with quality management, will make the stock a sure-fire winner.</p><p style=\"text-align: start;\">We feature four US growth stocks with lots of fuel in their tank to enable their earnings to continue increasing.</p><p style=\"text-align: start;\">And when the business does well, we are confident that its stock price will naturally follow.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/META\">Meta Platforms</a></h2><p style=\"text-align: start;\">Meta Platforms is a social media giant with products such as the chat program WhatsApp, the video and photo-sharing platform Instagram, and the social media app Facebook.</p><p style=\"text-align: start;\">The company reported a downbeat set of earnings for 2022.</p><p style=\"text-align: start;\">Revenue dipped 1% year on year to US$116.6 billion while operating profit slid 38% year on year to US$28.9 billion.</p><p style=\"text-align: start;\">Net profit plunged 41% year on year to US$23.2 billion.</p><p style=\"text-align: start;\">There’s a silver lining, though.</p><p style=\"text-align: start;\">CEO Mark Zuckerberg has deemed 2023 as the Meta Platforms’ “Year of Efficiency” and vowed to take cost-cutting measures to make the company a “stronger and nimbler organisation”.</p><p style=\"text-align: start;\">The social media giant has made good on its promise, with more jobs expected to be axed this week after a first round of layoffs announced in March which will see 10,000 jobs eliminated.</p><p style=\"text-align: start;\">Meanwhile, Meta Platforms is also pursuing growth in the field of generative artificial intelligence (AI) to use it to create ads for different companies by the end of 2023.</p><p style=\"text-align: start;\">At the same time, the company is also opening its Horizon Worlds metaverse to teenagers in the US and Canada in the coming weeks as part of a trial to retain more users within the space.</p><p style=\"text-align: start;\">If all goes well, the company’s metaverse ambitions can continue while the business right-sizes itself to prepare for ad growth this year.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/NFLX\">Netflix</a></h2><p style=\"text-align: start;\">Netflix offers streaming TV services and is one of the largest players in its industry.</p><p style=\"text-align: start;\">The company is off to a slow start for the first quarter of 2023 (1Q 2023), with revenue growing 3.7% year on year to US$8.2 billion.</p><p style=\"text-align: start;\">Operating margin rebounded strongly to 21%, up from the previous quarter’s 7%, but was down from 1Q 2022’s operating margin of 25.7%.</p><p style=\"text-align: start;\">Consequently, net profit fell by 18.3% year on year to US$1.3 billion.</p><p style=\"text-align: start;\">Investors have reason to cheer, though.</p><p style=\"text-align: start;\">Paid memberships continued to rise to a new record of 232.5 million, up 4.9% year on year, adding another 1.75 million members to Netflix’s database.</p><p style=\"text-align: start;\">Management expects roughly the same paid additions for 2Q 2023 and then a jump in 3Q as new member enhancement initiatives along with paid sharing kick in.</p><p style=\"text-align: start;\">Netflix also quoted figures from Nielsen that showed it had a market share of 2% to 4% in markets such as Brazil, Mexico and Poland, suggesting that it has plenty of opportunity to capture more market share.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/ADBE\">Adobe</a></h2><p style=\"text-align: start;\">Adobe is a multimedia and software company that offers several software-as-a-service (SaaS) products delivered via cloud computing.</p><p style=\"text-align: start;\">The company’s offerings include Creative Cloud, Document Cloud and Experience Cloud which deliver a range of services including digital signatures, image libraries, and customer relationship management.</p><p style=\"text-align: start;\">Adobe announced record revenue for its 1Q 2023 ending 3 March 2023.</p><p style=\"text-align: start;\">Revenue hit US$4.66 billion, up 9% year on year, while net profit dipped slightly by 1.5% year on year to US$1.25 billion.</p><p style=\"text-align: start;\">The company also generated a free cash flow of US$1.59 billion for the quarter.</p><p style=\"text-align: start;\">Adobe projects that its earnings per share for fiscal 2023 (FY2023) will rise by 8.9% year on year to end at US$11.</p><p style=\"text-align: start;\">The company should also enjoy a long-term earnings boost from its US$20 billion acquisition of Figma back in September last year.</p><p style=\"text-align: start;\">That is, if the acquisition is approved by authorities. </p><p style=\"text-align: start;\">Although the transaction will lower earnings per share in the first two years after closing, management expects Figma to break even in year three and be profitable from then onwards.</p><h2 style=\"text-align: start;\"><a href=\"https://laohu8.com/S/TSCO\">Tractor Supply Company</a></h2><p style=\"text-align: start;\">Tractor Supply Company is one of the largest rural lifestyle retailers in the US.</p><p style=\"text-align: start;\">The company operated 2,066 Tractor Supply stores in 49 states as of 31 December 2022 and 186 Petsense stores in 23 states.</p><p style=\"text-align: start;\">The rural lifestyle specialist reported a strong set of results for 2022, with revenue increasing 11.6% year on year to US$14.2 billion.</p><p style=\"text-align: start;\">Net profit increased by 9.2% year on year to US$1.09 billion, and a total of US$3.68 in dividends per share was paid out, a sharp increase from the US$2.08 paid out a year ago.</p><p style=\"text-align: start;\">The company’s Neighbors Club loyalty program has seen membership rise to 28 million, up 47% in the past two years.</p><p style=\"text-align: start;\">Tractor Supply projects that revenue can hit between US$15 billion to US$15.3 billion for 2023, and that the company can enjoy comparable store sales of positive 3.5% to 5.5%.</p></body></html>","source":"lsy1602567310727","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 U.S. Growth Stocks Whose Share Prices Can Continue Climbing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 U.S. Growth Stocks Whose Share Prices Can Continue Climbing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-21 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/4-us-growth-stocks-whose-share-prices-can-continue-climbing/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Growth stocks had been badly hammered last year as the pandemic receded and interest rates surged.It didn’t help that many technology companies also announced layoffs in a tacit admission that they ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/4-us-growth-stocks-whose-share-prices-can-continue-climbing/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"META":"Meta Platforms","NFLX":"奈飞","TSCO":"拖拉机供应公司","ADBE":"Adobe"},"source_url":"https://thesmartinvestor.com.sg/4-us-growth-stocks-whose-share-prices-can-continue-climbing/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168323116","content_text":"Growth stocks had been badly hammered last year as the pandemic receded and interest rates surged.It didn’t help that many technology companies also announced layoffs in a tacit admission that they had been too exuberant over their prospects.However, I will argue that several companies still have what it takes to deliver growth amid these challenging conditions.Investors need to latch on to businesses with strong franchises and possess dominant market positions within their respective sectors.These attributes, along with quality management, will make the stock a sure-fire winner.We feature four US growth stocks with lots of fuel in their tank to enable their earnings to continue increasing.And when the business does well, we are confident that its stock price will naturally follow.Meta PlatformsMeta Platforms is a social media giant with products such as the chat program WhatsApp, the video and photo-sharing platform Instagram, and the social media app Facebook.The company reported a downbeat set of earnings for 2022.Revenue dipped 1% year on year to US$116.6 billion while operating profit slid 38% year on year to US$28.9 billion.Net profit plunged 41% year on year to US$23.2 billion.There’s a silver lining, though.CEO Mark Zuckerberg has deemed 2023 as the Meta Platforms’ “Year of Efficiency” and vowed to take cost-cutting measures to make the company a “stronger and nimbler organisation”.The social media giant has made good on its promise, with more jobs expected to be axed this week after a first round of layoffs announced in March which will see 10,000 jobs eliminated.Meanwhile, Meta Platforms is also pursuing growth in the field of generative artificial intelligence (AI) to use it to create ads for different companies by the end of 2023.At the same time, the company is also opening its Horizon Worlds metaverse to teenagers in the US and Canada in the coming weeks as part of a trial to retain more users within the space.If all goes well, the company’s metaverse ambitions can continue while the business right-sizes itself to prepare for ad growth this year.NetflixNetflix offers streaming TV services and is one of the largest players in its industry.The company is off to a slow start for the first quarter of 2023 (1Q 2023), with revenue growing 3.7% year on year to US$8.2 billion.Operating margin rebounded strongly to 21%, up from the previous quarter’s 7%, but was down from 1Q 2022’s operating margin of 25.7%.Consequently, net profit fell by 18.3% year on year to US$1.3 billion.Investors have reason to cheer, though.Paid memberships continued to rise to a new record of 232.5 million, up 4.9% year on year, adding another 1.75 million members to Netflix’s database.Management expects roughly the same paid additions for 2Q 2023 and then a jump in 3Q as new member enhancement initiatives along with paid sharing kick in.Netflix also quoted figures from Nielsen that showed it had a market share of 2% to 4% in markets such as Brazil, Mexico and Poland, suggesting that it has plenty of opportunity to capture more market share.AdobeAdobe is a multimedia and software company that offers several software-as-a-service (SaaS) products delivered via cloud computing.The company’s offerings include Creative Cloud, Document Cloud and Experience Cloud which deliver a range of services including digital signatures, image libraries, and customer relationship management.Adobe announced record revenue for its 1Q 2023 ending 3 March 2023.Revenue hit US$4.66 billion, up 9% year on year, while net profit dipped slightly by 1.5% year on year to US$1.25 billion.The company also generated a free cash flow of US$1.59 billion for the quarter.Adobe projects that its earnings per share for fiscal 2023 (FY2023) will rise by 8.9% year on year to end at US$11.The company should also enjoy a long-term earnings boost from its US$20 billion acquisition of Figma back in September last year.That is, if the acquisition is approved by authorities. Although the transaction will lower earnings per share in the first two years after closing, management expects Figma to break even in year three and be profitable from then onwards.Tractor Supply CompanyTractor Supply Company is one of the largest rural lifestyle retailers in the US.The company operated 2,066 Tractor Supply stores in 49 states as of 31 December 2022 and 186 Petsense stores in 23 states.The rural lifestyle specialist reported a strong set of results for 2022, with revenue increasing 11.6% year on year to US$14.2 billion.Net profit increased by 9.2% year on year to US$1.09 billion, and a total of US$3.68 in dividends per share was paid out, a sharp increase from the US$2.08 paid out a year ago.The company’s Neighbors Club loyalty program has seen membership rise to 28 million, up 47% in the past two years.Tractor Supply projects that revenue can hit between US$15 billion to US$15.3 billion for 2023, and that the company can enjoy comparable store sales of positive 3.5% to 5.5%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944634256,"gmtCreate":1681822678675,"gmtModify":1681822682613,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Maybe 420 is Elon's lucky charm","listText":"Maybe 420 is Elon's lucky charm","text":"Maybe 420 is Elon's lucky charm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944634256","repostId":"2328938234","repostType":4,"repost":{"id":"2328938234","pubTimestamp":1681785096,"share":"https://www.laohu8.com/m/news/2328938234?lang=&edition=full","pubTime":"2023-04-18 10:31","market":"us","language":"en","title":"SpaceX Plans Starship Launch April 20 in Second Lift-Off Try","url":"https://stock-news.laohu8.com/highlight/detail?id=2328938234","media":"Bloomberg","summary":"SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for t","content":"<html><head></head><body><p>SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for the groundbreaking flight after a pressurization issue upended the company’s initial test.</p><p>Elon Musk’s closely held company announced the new date in a tweet on Monday, hours after postponing a planned inaugural test flight for the fully assembled vehicle. Minutes before scheduled liftoff on Monday, SpaceX scrubbed the flight, citing a “pressurization issue.” Officials had said they would need at least 48 hours before trying again. </p><p>Musk had flagged a “frozen” pressure valve as an issue that might delay the launch in a tweet earlier in the day. But SpaceX made no reference to the issue in a statement about the new target date for sending Starship aloft. </p><p>The new launch window will open at 8:28 a.m. local time in Boca Chica, Texas, where its launch pad is located, and closes one hour and two minutes later, SpaceX said. </p><p>The uncrewed mission is a critical step in SpaceX’s plan to send humans into deep space. The company, formally known as Space Exploration Technologies Corp., aims to send the massive rocket in a partial orbit of Earth for the first time, paving the way for later missions to the moon and Mars.</p><p>Delays — whether because of weather, technical issues or something else — are common in space launches.</p><p>The latest postponement adds to a timeline that has already been almost two decades in the making: As early as 2005, Musk alluded to plans for a giant rocket codenamed “BFR.” More recently, the company has been testing components of the rocket system in preparation for this launch, its first attempt to reach space.</p><p>Musk’s ‘420’ History</p><p>The timing of the second attempt on April 20 appears to be a coincidence, although Musk is no stranger to the number “420,” which is associated with marijuana. He famously once claimed to have “funding secured” to take Tesla Inc. private at $420 a share. Earlier this year testifying in a lawsuit stemming from that claim, Musk said “there is some karma around 420,” prompting laughter in the courtroom.</p><p>Musk serves as chief executive officer for both SpaceX and Tesla. </p><p>Starship was conceived to bring people — including NASA astronauts — and cargo such as satellites into Earth’s orbit and beyond. The rocket is more powerful than any previous crewed spacecraft and taller than the Saturn V. The launch vehicle system also has been designed to be fully reusable, which SpaceX promises will reduce costs. </p><p>When the launch attempt happens, the Super Heavy booster rocket is expected to break away from Starship after an initial climb to space and do a controlled dive into the Gulf of Mexico. If everything goes as planned, the Starship spacecraft will continue onward and arc through space completing almost a full lap around the Earth. It will then land in the Pacific Ocean off the coast of Hawaii.</p><p>Musk tried on Sunday to temper expectations, citing a number of ways that things could go wrong, including comparing the engines to live grenades. On a Twitter audio livestream, the billionaire entrepreneur said he had one overriding goal for the attempt: “Just don’t blow up the launchpad.”</p></body></html>","source":"yahoofinance_sg","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>SpaceX Plans Starship Launch April 20 in Second Lift-Off Try</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\">\nSpaceX Plans Starship Launch April 20 in Second Lift-Off Try\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-18 10:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/spacex-plans-starship-launch-april-235032502.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for the groundbreaking flight after a pressurization issue upended the company’s initial test.Elon Musk’s...</p>\n\n<a href=\"https://finance.yahoo.com/news/spacex-plans-starship-launch-april-235032502.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://finance.yahoo.com/news/spacex-plans-starship-launch-april-235032502.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2328938234","content_text":"SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for the groundbreaking flight after a pressurization issue upended the company’s initial test.Elon Musk’s closely held company announced the new date in a tweet on Monday, hours after postponing a planned inaugural test flight for the fully assembled vehicle. Minutes before scheduled liftoff on Monday, SpaceX scrubbed the flight, citing a “pressurization issue.” Officials had said they would need at least 48 hours before trying again. Musk had flagged a “frozen” pressure valve as an issue that might delay the launch in a tweet earlier in the day. But SpaceX made no reference to the issue in a statement about the new target date for sending Starship aloft. The new launch window will open at 8:28 a.m. local time in Boca Chica, Texas, where its launch pad is located, and closes one hour and two minutes later, SpaceX said. The uncrewed mission is a critical step in SpaceX’s plan to send humans into deep space. The company, formally known as Space Exploration Technologies Corp., aims to send the massive rocket in a partial orbit of Earth for the first time, paving the way for later missions to the moon and Mars.Delays — whether because of weather, technical issues or something else — are common in space launches.The latest postponement adds to a timeline that has already been almost two decades in the making: As early as 2005, Musk alluded to plans for a giant rocket codenamed “BFR.” More recently, the company has been testing components of the rocket system in preparation for this launch, its first attempt to reach space.Musk’s ‘420’ HistoryThe timing of the second attempt on April 20 appears to be a coincidence, although Musk is no stranger to the number “420,” which is associated with marijuana. He famously once claimed to have “funding secured” to take Tesla Inc. private at $420 a share. Earlier this year testifying in a lawsuit stemming from that claim, Musk said “there is some karma around 420,” prompting laughter in the courtroom.Musk serves as chief executive officer for both SpaceX and Tesla. Starship was conceived to bring people — including NASA astronauts — and cargo such as satellites into Earth’s orbit and beyond. The rocket is more powerful than any previous crewed spacecraft and taller than the Saturn V. The launch vehicle system also has been designed to be fully reusable, which SpaceX promises will reduce costs. When the launch attempt happens, the Super Heavy booster rocket is expected to break away from Starship after an initial climb to space and do a controlled dive into the Gulf of Mexico. If everything goes as planned, the Starship spacecraft will continue onward and arc through space completing almost a full lap around the Earth. It will then land in the Pacific Ocean off the coast of Hawaii.Musk tried on Sunday to temper expectations, citing a number of ways that things could go wrong, including comparing the engines to live grenades. On a Twitter audio livestream, the billionaire entrepreneur said he had one overriding goal for the attempt: “Just don’t blow up the launchpad.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":51,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":268378005409880,"gmtCreate":1706544875470,"gmtModify":1706544880070,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Great article","listText":"Great article","text":"Great article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/268378005409880","repostId":"2391538859","repostType":2,"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":226054401003552,"gmtCreate":1696253986417,"gmtModify":1696253990750,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":5,"crmLevelSwitch":0},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/226054401003552","repostId":"2372881570","repostType":2,"isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}