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2022-02-26

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

2022-03-12

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Wall Street Slumps in Broad Swoon to End Bumpy Week

2022-03-31

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Why Cathie Wood Just Dumped Tesla for This Hot EV Stock

2022-03-11

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GLOBAL MARKETS-Global Shares Fall on Inflation, Central Bank Moves

2022-03-07

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Shareholders Urge Amazon to Boost Tax Transparency

2022-03-02

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2022-03-02

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Pre-Bell | U.S. Stock Futures Notched Cautious Gains; Ford Will Split Evs and Legacy Autos

2022-02-26

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US IPO Weekly Recap: No IPOs in the Short Week Amid Market Turmoil

2022-02-26

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3 Beaten-Down Growth Stocks With More Than 50% Upside Potential

2022-02-25

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3 Oil Stocks to Buy as Russia-Ukraine Fears Ignite Oil Prices

2022-02-21

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3 Stocks That Turned $5,000 Into $10,000 (or More) in Just a Few Years

2022-03-31

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Apple Stock: One Good Day Away From $3 Trillion

2022-03-30

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Apple stock is having its best ride of the iPhone era

2022-02-21

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5 Unexpected Sources of Retirement Income

2022-02-17

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3 Game Companies Amazon Could Partner With

2022-03-17

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2022-02-23

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Why Tesla, Rivian and Nio All Dropped on Tuesday

2022-02-23

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2022-02-20

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Death cross crystallizes in Nasdaq Composite on Friday for first time in 2 years, in a bearish sign for the stock market

2022-02-18

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Tesla Plunges Seven Spots in Annual Consumer Reports Ranking

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08:34","market":"us","language":"en","title":"What Year-Round Daylight Saving Time Would Mean","url":"https://stock-news.laohu8.com/highlight/detail?id=1106264095","media":"Bloomberg","summary":"“Spring forward, fall back” has been a twice-a-year part of life in the U.S. for over a century, at ","content":"<html><head></head><body><p>“Spring forward, fall back” has been a twice-a-year part of life in the U.S. for over a century, at least for most of the country. It’s a ritual that produces pretty regular grumbling, particularly around the “lost hour” in the spring, when clocks are switched ahead from standard time. The Senate on March 15 unanimously approved a switch to permanent daylight saving time. But the history of the issue both in the U.S. and around the world shows that no approach is likely to make everybody happy.</p><p><b>1. What is the purpose of daylight saving time?</b></p><p>Daylight saving time -- more popularly miscalled “daylight savings time” -- moves an hour of sunlight from the early morning, when most people who aren’t farmers are in bed, to the evening, when they’re more likely to make use of the extended daylight.</p><p><b>2. When was DST created?</b></p><p>The idea for daylight saving time was said to have originated in the 18th Century; Benjamin Franklin thought sleeping late in the summer was a waste of productive time, and that the extra hour of sunlight in the evening would reduce candle consumption. The idea was first adopted as official policy by Germany during World War I, to save energy costs. Other countries followed, including the U.S., which adopted the time change in 1918, although without a uniform national system. In 1966, Congress passed the Uniform Time Act, which unified daylight saving time across the country -- or most of it. In 2005, the period for daylight saving was expanded to the current schedule, under which it runs from the second weekend in March through the first weekend in November.</p><p><b>3. Are some places not on DST?</b></p><p>Yes. The 1966 law said that any state could exempt itself. Hawaii opted out of the law, as did Arizona, except for the lands of the Navajo Nation. They chose to stay on standard time year-round instead. Several overseas territories, including American Samoa, Guam, Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands also do not observe daylight saving time.</p><p><b>4. What does the Senate bill propose?</b></p><p>The Senate bill would move standard time forward by one hour. If passed by the House and signed into law by President Joe Biden, that would have the effect of making daylight saving time permanent across the country. States would have the option of remaining on current standard time, but no state would be allowed to shift from one kind of time to the other during the course of a year -- they would have one or the other for all 12 months. The Senate bill proposes that the change would take effect in November 2023, a delay meant to give airlines and other businesses time to prepare for schedule changes.</p><p><b>5.  What would be the benefit?</b></p><p>Proponents point to a number of advantages:</p><ul><li>For one thing, we wouldn’t have to change our clocks twice a year any longer. Beyond the annoyance and confusion that can cause, studies have shown that changing the clock can be detrimental to people’s health. The “spring forward” in particular has been found to lead to disruptions in sleep, as well as increased risks of heart attacks, strokes and car crashes.</li><li>Economists say that restaurants, retail shops and leisure activity businesses like golf clubs benefit from the extra daylight in the evenings. The National Retail Federation, representing retailers across several countries,strongly supports daylight saving time. The U.S. Chamber of Commerce is also an advocate for DST as an economy booster. According to a report by the JPMorgan Chase Institute, shoppers spend 3.5% less in retail stores in the month following the end of daylight saving time.</li><li>One longstanding argument for DST, that it reduces energy costs, has been contradicted by a number of studies -- the extra driving consumers do more than offsets any reduction in lighting expenses.</li><li>Others say it can possibly help reduce robberies. One analysis found that the stock market goes up more during daylight saving months than during standard time, though only by a small amount.</li></ul><p><b>6. What are the arguments against the change?</b></p><p>The big one: even darker mornings during the winter. That would mean longer hours of darkness for people going to work as well as children heading to school. The American Academy of Sleep Medicine has come out against the proposal, saying that the body’s internal clock fits standard time better. It called for eliminating “spring forward, fall back,” but by eliminating daylight saving time altogether.</p><p><b>7. Has this been tried before?</b></p><p>Yes. The U.S. experimented with permanent DST for about 16 months in the 1970s. President Richard Nixon signed the change into law in January 1974, shortly after the upheaval of the 1973 energy crisis, when gas prices soared. The change was dropped before the date for eliminating standard time was reached, after support for the switch fell in the face of dark winter mornings. Russia in 2014 reversed a decision to switch to a permanent summer time as its people struggled with prolonged darkness during the winter.</p><p><b>8. Which states support this?</b></p><p>Starting with Florida in 2018, a number of states have passed laws that would put them on permanent daylight saving time if federal law allows it, including Alabama, Georgia, Louisiana, Maine, Minnesota, Mississippi, Montana, Oregon, South Carolina, Tennessee, Utah and Washington. Other states, including Ohio, Illinois, Michigan, Alaska, Texas and Utah have discussed dropping daylight saving time.</p><p>The Reference Shelf</p><ul><li>A Smithsonian Magazine article on the switch to DST for 16 months in the 70s.</li><li>A New York Times article reviewing studies that found that DST doesn’t save much energy.</li><li>The American Academy of Sleep Medicine called for the elimination of daylight saving time.</li><li>A letter in which Benjamin Franklin discussed his calculations around a time change.</li></ul></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>What Year-Round Daylight Saving Time Would Mean</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\">\nWhat Year-Round Daylight Saving Time Would Mean\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-17 08:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-03-16/what-year-round-daylight-saving-time-would-mean-quicktake?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“Spring forward, fall back” has been a twice-a-year part of life in the U.S. for over a century, at least for most of the country. It’s a ritual that produces pretty regular grumbling, particularly ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-03-16/what-year-round-daylight-saving-time-would-mean-quicktake?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.bloomberg.com/news/articles/2022-03-16/what-year-round-daylight-saving-time-would-mean-quicktake?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106264095","content_text":"“Spring forward, fall back” has been a twice-a-year part of life in the U.S. for over a century, at least for most of the country. It’s a ritual that produces pretty regular grumbling, particularly around the “lost hour” in the spring, when clocks are switched ahead from standard time. The Senate on March 15 unanimously approved a switch to permanent daylight saving time. But the history of the issue both in the U.S. and around the world shows that no approach is likely to make everybody happy.1. What is the purpose of daylight saving time?Daylight saving time -- more popularly miscalled “daylight savings time” -- moves an hour of sunlight from the early morning, when most people who aren’t farmers are in bed, to the evening, when they’re more likely to make use of the extended daylight.2. When was DST created?The idea for daylight saving time was said to have originated in the 18th Century; Benjamin Franklin thought sleeping late in the summer was a waste of productive time, and that the extra hour of sunlight in the evening would reduce candle consumption. The idea was first adopted as official policy by Germany during World War I, to save energy costs. Other countries followed, including the U.S., which adopted the time change in 1918, although without a uniform national system. In 1966, Congress passed the Uniform Time Act, which unified daylight saving time across the country -- or most of it. In 2005, the period for daylight saving was expanded to the current schedule, under which it runs from the second weekend in March through the first weekend in November.3. Are some places not on DST?Yes. The 1966 law said that any state could exempt itself. Hawaii opted out of the law, as did Arizona, except for the lands of the Navajo Nation. They chose to stay on standard time year-round instead. Several overseas territories, including American Samoa, Guam, Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands also do not observe daylight saving time.4. What does the Senate bill propose?The Senate bill would move standard time forward by one hour. If passed by the House and signed into law by President Joe Biden, that would have the effect of making daylight saving time permanent across the country. States would have the option of remaining on current standard time, but no state would be allowed to shift from one kind of time to the other during the course of a year -- they would have one or the other for all 12 months. The Senate bill proposes that the change would take effect in November 2023, a delay meant to give airlines and other businesses time to prepare for schedule changes.5.  What would be the benefit?Proponents point to a number of advantages:For one thing, we wouldn’t have to change our clocks twice a year any longer. Beyond the annoyance and confusion that can cause, studies have shown that changing the clock can be detrimental to people’s health. The “spring forward” in particular has been found to lead to disruptions in sleep, as well as increased risks of heart attacks, strokes and car crashes.Economists say that restaurants, retail shops and leisure activity businesses like golf clubs benefit from the extra daylight in the evenings. The National Retail Federation, representing retailers across several countries,strongly supports daylight saving time. The U.S. Chamber of Commerce is also an advocate for DST as an economy booster. According to a report by the JPMorgan Chase Institute, shoppers spend 3.5% less in retail stores in the month following the end of daylight saving time.One longstanding argument for DST, that it reduces energy costs, has been contradicted by a number of studies -- the extra driving consumers do more than offsets any reduction in lighting expenses.Others say it can possibly help reduce robberies. One analysis found that the stock market goes up more during daylight saving months than during standard time, though only by a small amount.6. What are the arguments against the change?The big one: even darker mornings during the winter. That would mean longer hours of darkness for people going to work as well as children heading to school. The American Academy of Sleep Medicine has come out against the proposal, saying that the body’s internal clock fits standard time better. It called for eliminating “spring forward, fall back,” but by eliminating daylight saving time altogether.7. Has this been tried before?Yes. The U.S. experimented with permanent DST for about 16 months in the 1970s. President Richard Nixon signed the change into law in January 1974, shortly after the upheaval of the 1973 energy crisis, when gas prices soared. The change was dropped before the date for eliminating standard time was reached, after support for the switch fell in the face of dark winter mornings. Russia in 2014 reversed a decision to switch to a permanent summer time as its people struggled with prolonged darkness during the winter.8. Which states support this?Starting with Florida in 2018, a number of states have passed laws that would put them on permanent daylight saving time if federal law allows it, including Alabama, Georgia, Louisiana, Maine, Minnesota, Mississippi, Montana, Oregon, South Carolina, Tennessee, Utah and Washington. Other states, including Ohio, Illinois, Michigan, Alaska, Texas and Utah have discussed dropping daylight saving time.The Reference ShelfA Smithsonian Magazine article on the switch to DST for 16 months in the 70s.A New York Times article reviewing studies that found that DST doesn’t save much energy.The American Academy of Sleep Medicine called for the elimination of daylight saving time.A letter in which Benjamin Franklin discussed his calculations around a time change.","news_type":1},"isVote":1,"tweetType":1,"viewCount":577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036298157,"gmtCreate":1647097548089,"gmtModify":1676534194783,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"🥔","listText":"🥔","text":"🥔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036298157","repostId":"2218944245","repostType":4,"repost":{"id":"2218944245","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647033773,"share":"https://ttm.financial/m/news/2218944245?lang=&edition=fundamental","pubTime":"2022-03-12 05:22","market":"us","language":"en","title":"Wall Street Slumps in Broad Swoon to End Bumpy Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2218944245","media":"Reuters","summary":"March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a bro","content":"<html><head></head><body><p>March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve&#39;s policy meeting next week.</p><p>At the end of a volatile week, indexes had opened higher after Russian President Vladimir Putin said there were &#34;certain positive shifts&#34; in talks with Ukraine, without providing any details, but stocks then faded during the session.</p><p>All 11 S&amp;P 500 sectors ended down, with communication services    falling 1.9% and technology    dropping 1.8%.</p><p>“After we saw a bounce in the middle of the week, there is still too much uncertainty out there,” said Matt Maley, chief market strategist at Miller Tabak. &#34;The market has had a tough couple of Mondays so I think the short-term players want to take some chips off the table.&#34;</p><p>The Dow Jones Industrial Average    fell 229.88 points, or 0.69%, to 32,944.19, the S&amp;P 500    lost 55.21 points, or 1.30%, to 4,204.31 and the Nasdaq Composite    dropped 286.15 points, or 2.18%, to 12,843.81.</p><p>The benchmark S&amp;P 500 fell 2.9% for the week, and logged its second straight weekly decline. The Dow fell for a fifth straight week.</p><p>On Friday, declines in shares of megacap growth companies such as Apple Inc    and Tesla Inc    dragged on the S&amp;P 500. Apple fell 2.4% while Tesla dropped 5.1%.</p><p><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>    shares fell 3.9% as Russia opened a criminal case against the Facebook parent after the social network changed its hate speech rules to allow users to call for &#34;death to the Russian invaders&#34; in the context of the war with Ukraine.</p><p>President Volodymyr Zelenskiy said Ukraine had reached a &#34;strategic turning point&#34; in the conflict with Russia, but Russian forces bombarded cities across the country and appeared to be regrouping for a possible assault on the capital Kyiv.</p><p>Regarding developments in the Ukraine crisis, “you just don’t know what you are going to see so there’s no reason to go into the weekend with a risk-on attitude,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.</p><p>Growth stocks also came under pressure as the U.S. 10-year Treasury yield    hovered near 2%.</p><p>Stocks have struggled this year as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Fed is expected to tighten monetary policy this year to fight inflation. The S&amp;P 500 is down 11.8% in 2022.</p><p>The U.S. central bank is expected to raise rates at its March 15-16 meeting.</p><p>A survey showed U.S. consumer sentiment fell more than expected in early March as gasoline prices surged to a record high in the aftermath of Russia&#39;s war against Ukraine.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.83-to-1 ratio; on Nasdaq, a 2.54-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 13 new 52-week highs and 16 new lows; the Nasdaq Composite recorded 36 new highs and 274 new lows.</p><p>About 13 billion shares changed hands in U.S. exchanges, compared with the 13.6 billion daily average over the last 20 sessions.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Slumps in Broad Swoon to End Bumpy Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Slumps in Broad Swoon to End Bumpy Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-12 05:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve&#39;s policy meeting next week.</p><p>At the end of a volatile week, indexes had opened higher after Russian President Vladimir Putin said there were &#34;certain positive shifts&#34; in talks with Ukraine, without providing any details, but stocks then faded during the session.</p><p>All 11 S&amp;P 500 sectors ended down, with communication services    falling 1.9% and technology    dropping 1.8%.</p><p>“After we saw a bounce in the middle of the week, there is still too much uncertainty out there,” said Matt Maley, chief market strategist at Miller Tabak. &#34;The market has had a tough couple of Mondays so I think the short-term players want to take some chips off the table.&#34;</p><p>The Dow Jones Industrial Average    fell 229.88 points, or 0.69%, to 32,944.19, the S&amp;P 500    lost 55.21 points, or 1.30%, to 4,204.31 and the Nasdaq Composite    dropped 286.15 points, or 2.18%, to 12,843.81.</p><p>The benchmark S&amp;P 500 fell 2.9% for the week, and logged its second straight weekly decline. The Dow fell for a fifth straight week.</p><p>On Friday, declines in shares of megacap growth companies such as Apple Inc    and Tesla Inc    dragged on the S&amp;P 500. Apple fell 2.4% while Tesla dropped 5.1%.</p><p><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>    shares fell 3.9% as Russia opened a criminal case against the Facebook parent after the social network changed its hate speech rules to allow users to call for &#34;death to the Russian invaders&#34; in the context of the war with Ukraine.</p><p>President Volodymyr Zelenskiy said Ukraine had reached a &#34;strategic turning point&#34; in the conflict with Russia, but Russian forces bombarded cities across the country and appeared to be regrouping for a possible assault on the capital Kyiv.</p><p>Regarding developments in the Ukraine crisis, “you just don’t know what you are going to see so there’s no reason to go into the weekend with a risk-on attitude,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.</p><p>Growth stocks also came under pressure as the U.S. 10-year Treasury yield    hovered near 2%.</p><p>Stocks have struggled this year as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Fed is expected to tighten monetary policy this year to fight inflation. The S&amp;P 500 is down 11.8% in 2022.</p><p>The U.S. central bank is expected to raise rates at its March 15-16 meeting.</p><p>A survey showed U.S. consumer sentiment fell more than expected in early March as gasoline prices surged to a record high in the aftermath of Russia&#39;s war against Ukraine.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.83-to-1 ratio; on Nasdaq, a 2.54-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 13 new 52-week highs and 16 new lows; the Nasdaq Composite recorded 36 new highs and 274 new lows.</p><p>About 13 billion shares changed hands in U.S. exchanges, compared with the 13.6 billion daily average over the last 20 sessions.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","BK4534":"瑞士信贷持仓","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","BK4550":"红杉资本持仓","BK4559":"巴菲特持仓","QLD":"纳指两倍做多ETF","BK4581":"高盛持仓","SDS":"两倍做空标普500ETF","DXD":"道指两倍做空ETF","SPY":"标普500ETF","PSQ":"纳指反向ETF",".DJI":"道琼斯","SDOW":"道指三倍做空ETF-ProShares","DDM":"道指两倍做多ETF",".IXIC":"NASDAQ Composite","BK4504":"桥水持仓",".SPX":"S&P 500 Index","OEX":"标普100","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","DOG":"道指反向ETF","DJX":"1/100道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2218944245","content_text":"March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve's policy meeting next week.At the end of a volatile week, indexes had opened higher after Russian President Vladimir Putin said there were \"certain positive shifts\" in talks with Ukraine, without providing any details, but stocks then faded during the session.All 11 S&P 500 sectors ended down, with communication services    falling 1.9% and technology    dropping 1.8%.“After we saw a bounce in the middle of the week, there is still too much uncertainty out there,” said Matt Maley, chief market strategist at Miller Tabak. \"The market has had a tough couple of Mondays so I think the short-term players want to take some chips off the table.\"The Dow Jones Industrial Average    fell 229.88 points, or 0.69%, to 32,944.19, the S&P 500    lost 55.21 points, or 1.30%, to 4,204.31 and the Nasdaq Composite    dropped 286.15 points, or 2.18%, to 12,843.81.The benchmark S&P 500 fell 2.9% for the week, and logged its second straight weekly decline. The Dow fell for a fifth straight week.On Friday, declines in shares of megacap growth companies such as Apple Inc    and Tesla Inc    dragged on the S&P 500. Apple fell 2.4% while Tesla dropped 5.1%.Meta Platforms    shares fell 3.9% as Russia opened a criminal case against the Facebook parent after the social network changed its hate speech rules to allow users to call for \"death to the Russian invaders\" in the context of the war with Ukraine.President Volodymyr Zelenskiy said Ukraine had reached a \"strategic turning point\" in the conflict with Russia, but Russian forces bombarded cities across the country and appeared to be regrouping for a possible assault on the capital Kyiv.Regarding developments in the Ukraine crisis, “you just don’t know what you are going to see so there’s no reason to go into the weekend with a risk-on attitude,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.Growth stocks also came under pressure as the U.S. 10-year Treasury yield    hovered near 2%.Stocks have struggled this year as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Fed is expected to tighten monetary policy this year to fight inflation. The S&P 500 is down 11.8% in 2022.The U.S. central bank is expected to raise rates at its March 15-16 meeting.A survey showed U.S. consumer sentiment fell more than expected in early March as gasoline prices surged to a record high in the aftermath of Russia's war against Ukraine.Declining issues outnumbered advancing ones on the NYSE by a 2.83-to-1 ratio; on Nasdaq, a 2.54-to-1 ratio favored decliners.The S&P 500 posted 13 new 52-week highs and 16 new lows; the Nasdaq Composite recorded 36 new highs and 274 new lows.About 13 billion shares changed hands in U.S. exchanges, compared with the 13.6 billion daily average over the last 20 sessions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036992244,"gmtCreate":1646959007407,"gmtModify":1676534181529,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"🥔","listText":"🥔","text":"🥔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036992244","repostId":"2218293229","repostType":4,"repost":{"id":"2218293229","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1646953979,"share":"https://ttm.financial/m/news/2218293229?lang=&edition=fundamental","pubTime":"2022-03-11 07:12","market":"us","language":"en","title":"GLOBAL MARKETS-Global Shares Fall on Inflation, Central Bank Moves","url":"https://stock-news.laohu8.com/highlight/detail?id=2218293229","media":"Reuters","summary":"\"MSCI's gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST .The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.The pan-European STOXX 600 index lost 1.69%.The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. ","content":"<html><head></head><body><p>Global share markets slid on Thursday as U.S. inflation hit almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week, and the European Central Bank sped up the end of its massive stimulus program.</p><p>Data showed U.S. consumer inflation running at a 7.9% annualized clip in February, the largest annual increase in 40 years.</p><p>Wall Street fell on the data because, while markets expect the central bank to raise the Fed funds target rate by 25 basis points at the conclusion of next week&#39;s monetary policy meeting, the CPI data suggested the FOMC could move &#34;more aggressively&#34; to curb inflation, as promised by Fed Chair Jerome Powell last week.</p><p>The ECB earlier in the session said it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia&#39;s invasion of Ukraine.</p><p>Talks between Ukraine and Russia on Thursday failed to bring any respite in the conflict, which has trapped hundreds of thousands of civilians in Ukrainian cities sheltering amid Russian air raids and shelling.</p><p>The euro retreated from overnight gains following the ECB announcement, and the dollar strengthened on the U.S. inflation report. The benchmark U.S. 10-year Treasury yield rose above 2% for the first time in two weeks.</p><p>Melissa Brown, managing director of applied research at Qontigo, said that some inflation can be beneficial to stock prices, but central banks have their work cut out for them managing inflation that is at multi-decade highs.</p><p>&#34;We&#39;ve reached that tipping point between good inflation and bad inflation. It is driving volatility higher, and the higher volatility typically drives away investors,&#34; Brown said.</p><p>&#34;Sentiment is very uncertain. Now that we are where we are, can (central bankers) tread that fine line between managing inflation and not pushing us into recession?&#34;</p><p>MSCI&#39;s gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST (2212 GMT).</p><p>The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&amp;P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.</p><p>The pan-European STOXX 600 index lost 1.69%.</p><p>The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.</p><p>The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. 17.</p><p>Veneta Dimitrova, senior U.S. economist at Ned Davis Research, said that with the sharp rises in energy and other commodity markets due to the war in Ukraine, it will most likely take longer to reach peak inflation.</p><p>&#34;This means higher inflation for longer and a treacherous policy path for the Fed ahead,&#34; Dimitrova, adding she expects the Fed to proceed with a 25-basis point interest rate increase next week.</p><p>&#34;With all the geopolitical uncertainty and market volatility out there, the Fed doesn’t want to add to the uncertainty.&#34;</p><p>Oil fell in volatile trading after the United Arab Emirates backtracked on statements saying OPEC and its allies might increase output to help to plug the gap in exports from Russia.</p><p>U.S. crude oil futures settled at $106.02 a barrel, down 2.47%, while the international benchmark Brent settled at $109.33, down 1.63%.</p><p>European Union leaders will phase out buying Russian oil, gas and coal, a draft declaration showed on Thursday, as the bloc seeks to reduce its reliance on Russian sources of energy, following a ban from the United States.</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>GLOBAL MARKETS-Global Shares Fall on Inflation, Central Bank Moves</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\">\nGLOBAL MARKETS-Global Shares Fall on Inflation, Central Bank Moves\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-11 07:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Global share markets slid on Thursday as U.S. inflation hit almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week, and the European Central Bank sped up the end of its massive stimulus program.</p><p>Data showed U.S. consumer inflation running at a 7.9% annualized clip in February, the largest annual increase in 40 years.</p><p>Wall Street fell on the data because, while markets expect the central bank to raise the Fed funds target rate by 25 basis points at the conclusion of next week&#39;s monetary policy meeting, the CPI data suggested the FOMC could move &#34;more aggressively&#34; to curb inflation, as promised by Fed Chair Jerome Powell last week.</p><p>The ECB earlier in the session said it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia&#39;s invasion of Ukraine.</p><p>Talks between Ukraine and Russia on Thursday failed to bring any respite in the conflict, which has trapped hundreds of thousands of civilians in Ukrainian cities sheltering amid Russian air raids and shelling.</p><p>The euro retreated from overnight gains following the ECB announcement, and the dollar strengthened on the U.S. inflation report. The benchmark U.S. 10-year Treasury yield rose above 2% for the first time in two weeks.</p><p>Melissa Brown, managing director of applied research at Qontigo, said that some inflation can be beneficial to stock prices, but central banks have their work cut out for them managing inflation that is at multi-decade highs.</p><p>&#34;We&#39;ve reached that tipping point between good inflation and bad inflation. It is driving volatility higher, and the higher volatility typically drives away investors,&#34; Brown said.</p><p>&#34;Sentiment is very uncertain. Now that we are where we are, can (central bankers) tread that fine line between managing inflation and not pushing us into recession?&#34;</p><p>MSCI&#39;s gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST (2212 GMT).</p><p>The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&amp;P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.</p><p>The pan-European STOXX 600 index lost 1.69%.</p><p>The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.</p><p>The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. 17.</p><p>Veneta Dimitrova, senior U.S. economist at Ned Davis Research, said that with the sharp rises in energy and other commodity markets due to the war in Ukraine, it will most likely take longer to reach peak inflation.</p><p>&#34;This means higher inflation for longer and a treacherous policy path for the Fed ahead,&#34; Dimitrova, adding she expects the Fed to proceed with a 25-basis point interest rate increase next week.</p><p>&#34;With all the geopolitical uncertainty and market volatility out there, the Fed doesn’t want to add to the uncertainty.&#34;</p><p>Oil fell in volatile trading after the United Arab Emirates backtracked on statements saying OPEC and its allies might increase output to help to plug the gap in exports from Russia.</p><p>U.S. crude oil futures settled at $106.02 a barrel, down 2.47%, while the international benchmark Brent settled at $109.33, down 1.63%.</p><p>European Union leaders will phase out buying Russian oil, gas and coal, a draft declaration showed on Thursday, as the bloc seeks to reduce its reliance on Russian sources of energy, following a ban from the United States.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF",".DJI":"道琼斯","DJX":"1/100道琼斯","USO":"美国原油ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion","DDG":"ProShares做空石油与天然气ETF","SQQQ":"纳指三倍做空ETF","QLD":"纳指两倍做多ETF","DXD":"道指两倍做空ETF","UCO":"二倍做多彭博原油ETF","PSQ":"纳指反向ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","DDM":"道指两倍做多ETF","SDOW":"道指三倍做空ETF-ProShares","EUO":"欧元ETF-ProShares两倍做空","NUGT":"二倍做多黄金矿业指数ETF-Direxion","GLD":"SPDR黄金ETF","TQQQ":"纳指三倍做多ETF","SCO":"二倍做空彭博原油指数ETF","FXY":"日元ETF-CurrencyShares","QQQ":"纳指100ETF","DOG":"道指反向ETF","FXB":"英镑ETF-CurrencyShares","DWT":"三倍做空原油ETN",".SPX":"S&P 500 Index","YCS":"日元ETF-ProShares两倍做空","UDOW":"道指三倍做多ETF-ProShares",".IXIC":"NASDAQ Composite","GDX":"黄金矿业ETF-VanEck","IAU":"黄金信托ETF(iShares)","FXE":"欧元做多ETF-CurrencyShares","QID":"纳指两倍做空ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2218293229","content_text":"Global share markets slid on Thursday as U.S. inflation hit almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week, and the European Central Bank sped up the end of its massive stimulus program.Data showed U.S. consumer inflation running at a 7.9% annualized clip in February, the largest annual increase in 40 years.Wall Street fell on the data because, while markets expect the central bank to raise the Fed funds target rate by 25 basis points at the conclusion of next week's monetary policy meeting, the CPI data suggested the FOMC could move \"more aggressively\" to curb inflation, as promised by Fed Chair Jerome Powell last week.The ECB earlier in the session said it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia's invasion of Ukraine.Talks between Ukraine and Russia on Thursday failed to bring any respite in the conflict, which has trapped hundreds of thousands of civilians in Ukrainian cities sheltering amid Russian air raids and shelling.The euro retreated from overnight gains following the ECB announcement, and the dollar strengthened on the U.S. inflation report. The benchmark U.S. 10-year Treasury yield rose above 2% for the first time in two weeks.Melissa Brown, managing director of applied research at Qontigo, said that some inflation can be beneficial to stock prices, but central banks have their work cut out for them managing inflation that is at multi-decade highs.\"We've reached that tipping point between good inflation and bad inflation. It is driving volatility higher, and the higher volatility typically drives away investors,\" Brown said.\"Sentiment is very uncertain. Now that we are where we are, can (central bankers) tread that fine line between managing inflation and not pushing us into recession?\"MSCI's gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST (2212 GMT).The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.The pan-European STOXX 600 index lost 1.69%.The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. 17.Veneta Dimitrova, senior U.S. economist at Ned Davis Research, said that with the sharp rises in energy and other commodity markets due to the war in Ukraine, it will most likely take longer to reach peak inflation.\"This means higher inflation for longer and a treacherous policy path for the Fed ahead,\" Dimitrova, adding she expects the Fed to proceed with a 25-basis point interest rate increase next week.\"With all the geopolitical uncertainty and market volatility out there, the Fed doesn’t want to add to the uncertainty.\"Oil fell in volatile trading after the United Arab Emirates backtracked on statements saying OPEC and its allies might increase output to help to plug the gap in exports from Russia.U.S. crude oil futures settled at $106.02 a barrel, down 2.47%, while the international benchmark Brent settled at $109.33, down 1.63%.European Union leaders will phase out buying Russian oil, gas and coal, a draft declaration showed on Thursday, as the bloc seeks to reduce its reliance on Russian sources of energy, following a ban from the United States.","news_type":1},"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9031400239,"gmtCreate":1646627573975,"gmtModify":1676534145081,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9031400239","repostId":"1174290253","repostType":4,"repost":{"id":"1174290253","pubTimestamp":1646623236,"share":"https://ttm.financial/m/news/1174290253?lang=&edition=fundamental","pubTime":"2022-03-07 11:20","market":"us","language":"en","title":"Shareholders Urge Amazon to Boost Tax Transparency","url":"https://stock-news.laohu8.com/highlight/detail?id=1174290253","media":"Reuters","summary":"Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures an","content":"<html><head></head><body><p>Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures and adopt a new reporting standard, the Financial Times said on Sunday.</p><p>Asset managers Nordea, Royal London and several large European and U.S. pension funds are among those pushing for Amazon to issue a transparency report in line with Global Reporting Initiative (GRI) tax standard, the newspaper said.</p><p>They want to bring a shareholders&#39; resolution demanding the new standard at the company&#39;s annual meeting this year, it said, citing a letter to be sent this week to the U.S. regulator, the Securities and Exchange Commission.</p><p>&#34;Aggressive tax practices can expose a company and its investors to increased scrutiny from tax authorities, adjustment risks, and increase their vulnerability to changes in tax rules,&#34; the investors said.</p><p>These measures come at a time when nations are looking to protect their tax bases from deleterious practices, they added in the letter seen by the FT.</p><p>The 100 groups that signed the letter included several environmental, social and governance-focused and religious funds, although not all were investors, the paper said.</p><p>An Amazon spokesperson declined to comment on the resolution, but pointed to last month&#39;s no-action request when the company barred a similar shareholder proposal.</p><p>&#34;The proposal implicates exactly the type of ordinary business issues for which resolution should remain with the company’s management and board,&#34; Amazon said.</p><p>It would be impractical for shareholders to exercise direct oversight of such issues, it added.</p><p>Amazon&#39;s current extensive tax disclosures are in line with U.S. generally accepted accounting principles (&#34;GAAP&#34;), it said, adding that it has publicly reported tax payments in the United States, Britain, France, Italy and Spain.</p><p>A December shareholder proposal by the Greater Manchester Pension Fund and Oblate International Pastoral Investment Trust urged Amazon to adopt the new GRI tax standard, and make public breakdowns of financial, tax and worker information by country.</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>Shareholders Urge Amazon to Boost Tax Transparency</title>\n<style 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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\">\nShareholders Urge Amazon to Boost Tax Transparency\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-07 11:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-shareholders-urge-amazon-boost-030956845.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures and adopt a new reporting standard, the Financial Times said on Sunday.Asset managers Nordea, Royal ...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-shareholders-urge-amazon-boost-030956845.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://finance.yahoo.com/news/1-shareholders-urge-amazon-boost-030956845.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174290253","content_text":"Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures and adopt a new reporting standard, the Financial Times said on Sunday.Asset managers Nordea, Royal London and several large European and U.S. pension funds are among those pushing for Amazon to issue a transparency report in line with Global Reporting Initiative (GRI) tax standard, the newspaper said.They want to bring a shareholders' resolution demanding the new standard at the company's annual meeting this year, it said, citing a letter to be sent this week to the U.S. regulator, the Securities and Exchange Commission.\"Aggressive tax practices can expose a company and its investors to increased scrutiny from tax authorities, adjustment risks, and increase their vulnerability to changes in tax rules,\" the investors said.These measures come at a time when nations are looking to protect their tax bases from deleterious practices, they added in the letter seen by the FT.The 100 groups that signed the letter included several environmental, social and governance-focused and religious funds, although not all were investors, the paper said.An Amazon spokesperson declined to comment on the resolution, but pointed to last month's no-action request when the company barred a similar shareholder proposal.\"The proposal implicates exactly the type of ordinary business issues for which resolution should remain with the company’s management and board,\" Amazon said.It would be impractical for shareholders to exercise direct oversight of such issues, it added.Amazon's current extensive tax disclosures are in line with U.S. generally accepted accounting principles (\"GAAP\"), it said, adding that it has publicly reported tax payments in the United States, Britain, France, Italy and Spain.A December shareholder proposal by the Greater Manchester Pension Fund and Oblate International Pastoral Investment Trust urged Amazon to adopt the new GRI tax standard, and make public breakdowns of financial, tax and worker information by country.","news_type":1},"isVote":1,"tweetType":1,"viewCount":737,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033152694,"gmtCreate":1646227007492,"gmtModify":1676534105764,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033152694","repostId":"1142226429","repostType":4,"repost":{"id":"1142226429","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1646226019,"share":"https://ttm.financial/m/news/1142226429?lang=&edition=fundamental","pubTime":"2022-03-02 21:00","market":"us","language":"en","title":"Read How Analysts Reacted To Salesforce's Q4 Results","url":"https://stock-news.laohu8.com/highlight/detail?id=1142226429","media":"Benzinga","summary":"Analysts adjusted their price targets on Salesforce.com Inc(NYSE:CRM) post Q4 results.Citi analyst T","content":"<html><head></head><body><ul><li>Analysts adjusted their price targets on <b>Salesforce.com Inc</b>(NYSE:CRM) post Q4 results.</li><li><b>Citi</b> analyst Tyler Radke raised the firm&#39;s price target on Salesforce to $233 from $220 (11.5% upside) and kept a Neutral.</li><li>The company &#34;delivered a reassuring&#34; Q4 and outlook, which should help alleviate concerns around the health of the front office and general IT spending.</li><li><b>UBS</b>analyst Karl Keirstead raised the firm&#39;s price target on Salesforce to $225 from $210 (7.8% upside) and kept a Neutral.</li><li>The company&#39;s Q4 results were &#34;solid,&#34; and evidence suggests that its growth profile is proving to be &#34;durable&#34; even with the second anniversary of the pandemic approaching.</li><li><b>Piper Sandler</b> analyst Clarke Jeffries maintained Salesforce with an Overweight and lowered the price target from $365 to $330 (58% upside).</li><li><b>Price Action:</b> CRM shares traded higher by 3.89% at $217.01 in the premarket on the last check Wednesday.</li></ul><p><b>Latest Ratings for CRM</b></p><p><img src=\"https://static.tigerbbs.com/81a79416bfc53ede97867852bcd4d1f9\" tg-width=\"1028\" tg-height=\"154\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Read How Analysts Reacted To Salesforce's Q4 Results</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; 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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\">\nRead How Analysts Reacted To Salesforce's Q4 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2022-03-02 21:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Analysts adjusted their price targets on <b>Salesforce.com Inc</b>(NYSE:CRM) post Q4 results.</li><li><b>Citi</b> analyst Tyler Radke raised the firm&#39;s price target on Salesforce to $233 from $220 (11.5% upside) and kept a Neutral.</li><li>The company &#34;delivered a reassuring&#34; Q4 and outlook, which should help alleviate concerns around the health of the front office and general IT spending.</li><li><b>UBS</b>analyst Karl Keirstead raised the firm&#39;s price target on Salesforce to $225 from $210 (7.8% upside) and kept a Neutral.</li><li>The company&#39;s Q4 results were &#34;solid,&#34; and evidence suggests that its growth profile is proving to be &#34;durable&#34; even with the second anniversary of the pandemic approaching.</li><li><b>Piper Sandler</b> analyst Clarke Jeffries maintained Salesforce with an Overweight and lowered the price target from $365 to $330 (58% upside).</li><li><b>Price Action:</b> CRM shares traded higher by 3.89% at $217.01 in the premarket on the last check Wednesday.</li></ul><p><b>Latest Ratings for CRM</b></p><p><img src=\"https://static.tigerbbs.com/81a79416bfc53ede97867852bcd4d1f9\" tg-width=\"1028\" tg-height=\"154\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRM":"赛富时"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142226429","content_text":"Analysts adjusted their price targets on Salesforce.com Inc(NYSE:CRM) post Q4 results.Citi analyst Tyler Radke raised the firm's price target on Salesforce to $233 from $220 (11.5% upside) and kept a Neutral.The company \"delivered a reassuring\" Q4 and outlook, which should help alleviate concerns around the health of the front office and general IT spending.UBSanalyst Karl Keirstead raised the firm's price target on Salesforce to $225 from $210 (7.8% upside) and kept a Neutral.The company's Q4 results were \"solid,\" and evidence suggests that its growth profile is proving to be \"durable\" even with the second anniversary of the pandemic approaching.Piper Sandler analyst Clarke Jeffries maintained Salesforce with an Overweight and lowered the price target from $365 to $330 (58% upside).Price Action: CRM shares traded higher by 3.89% at $217.01 in the premarket on the last check Wednesday.Latest Ratings for CRM","news_type":1},"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033152371,"gmtCreate":1646226982943,"gmtModify":1676534105726,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033152371","repostId":"1177462887","repostType":4,"isVote":1,"tweetType":1,"viewCount":669,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039988111,"gmtCreate":1645883479044,"gmtModify":1676534072358,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039988111","repostId":"1154871504","repostType":4,"isVote":1,"tweetType":1,"viewCount":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039988993,"gmtCreate":1645883463628,"gmtModify":1676534072359,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039988993","repostId":"1191113671","repostType":4,"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039981714,"gmtCreate":1645883451690,"gmtModify":1676534072374,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039981714","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1645926503,"share":"https://ttm.financial/m/news/1125580913?lang=&edition=fundamental","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030293645,"gmtCreate":1645736693320,"gmtModify":1676534057685,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼👍🏼","listText":"👍🏼👍🏼","text":"👍🏼👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030293645","repostId":"1165158876","repostType":4,"isVote":1,"tweetType":1,"viewCount":438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030024204,"gmtCreate":1645583475802,"gmtModify":1676534042787,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030024204","repostId":"1158951353","repostType":2,"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097789284,"gmtCreate":1645568760182,"gmtModify":1676534039134,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097789284","repostId":"1122018131","repostType":4,"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097553304,"gmtCreate":1645505686933,"gmtModify":1676534034454,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097553304","repostId":"1132983285","repostType":4,"repost":{"id":"1132983285","pubTimestamp":1645484848,"share":"https://ttm.financial/m/news/1132983285?lang=&edition=fundamental","pubTime":"2022-02-22 07:07","market":"us","language":"en","title":"Moderna, Alibaba, Coinbase, Home Depot, Etsy, and Other Stocks to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1132983285","media":"Barron's","summary":"U.S. stock and bond markets will be closed for Presidents Day on Monday. Fourth-quarter earning seas","content":"<html><head></head><body><p>U.S. stock and bond markets will be closed for Presidents Day on Monday. Fourth-quarter earning season resumes when Wall Street returns, with results from Agilent Technologies, Home Depot, and Medtronic on Tuesday. On Wednesday, Booking Holdings, eBay, Lowe’s, Stellantis, and TJX report.</p><p>Thursday will be particularly busy: Alibaba Group Holding, Anheuser-Busch InBev, Coinbase Global, Dell Technologies, Etsy, Moderna, Newmont, Norwegian Cruise Line Holdings, and Occidental Petroleum will be among the highlights. Finally, EOG Resources and Liberty Media close the week on Friday.</p><p>The economic data highlights of the week will include IHS Markit’s Manufacturing and Services Purchasing Managers’ Indexes for February and the Conference Board’s Consumer Confidence Index for February––all on Tuesday. The surveys are each expected to come in flat to down versus January.</p><p>The Census Bureau will also report January durable-goods orders on Friday, which are often seen as a proxy for business investment. Finally, the Bureau of Economic Analysis will report personal income and spending for January on Friday. American consumers are expected to have spent more and earned slightly less compared with the prior month.</p><h2>Monday 2/21</h2><p>Stock and fixed-income markets are closed in observance of Presidents Day.</p><h2>Tuesday 2/22</h2><p>Agilent Technologies, Cadence Design Systems, CenterPoint Energy, Home Depot, Medtronic, Palo Alto Networks, Public Storage, and Realty Income release earnings.</p><p>IHS Markit releases its Manufacturing and Services Purchasing Managers’ Indexes for February. Consensus estimates are for a 56 reading for the Manufacturing PMI and a 52.2 for the Services PMI. This compares with 55.5 and 51.2, respectively, in January. The January Services PMI was the lowest reading since July 2020.</p><p>The Conference Board releases its Consumer Confidence Index for February. Economists forecast a 110.8 reading, roughly three points less than the January data.</p><h2>Wednesday 2/23</h2><p>Booking Holdings, Coterra Energy, eBay, Lowe’s, Molson Coors Beverage, Stellantis, and TJX Cos. report quarterly results.</p><p>The General Assembly of the United Nations holds a meeting to debate the ongoing tensions in Ukraine.</p><p>Cummins holds its 2022 analyst day.</p><h2>Thursday 2/24</h2><p>The BEA reports its second estimate of fourth-quarter 2021 gross domestic product. Economists forecast a 5.9% seasonally adjusted annual growth rate, one percentage less than the advance estimate of 6.9%.</p><p>Alibaba Group Holding, Anheuser-Busch InBev, American Electric Power, Autodesk, Block, CBRE Group, Coinbase Global, Dell Technologies, Etsy, Intuit, Moderna, Newmont, Norwegian Cruise Line Holdings, NRG Energy, Occidental Petroleum, Public Service Enterprise Group, Royal Bank of Canada, and VMware release earnings.</p><p>The Census Bureau reports new-home sales for January. Expectations are for a seasonally adjusted annual rate of 792,000 new single-family houses sold, 19,000 fewer than in December.</p><h2>Friday 2/25</h2><p>Canadian Imperial Bank of Commerce, EOG Resources, Liberty Media, and Sempra Energy hold conference calls to discuss quarterly results.</p><p>The Census Bureau releases the January durable-goods report. Consensus estimate is for new orders for manufactured durable goods to rise 1% month over month to $270.3 billion.</p><p>The National Association of Realtors releases its Pending Home Sales index for January. In December, pending home sales fell 3.8%, the second consecutive month of declines. Rising mortgage rates and record-high home prices have taken some of the wind out of the housing market.</p><p>The BEA reports personal income and spending for January. Income is expected to decline 0.3% month over month, while expenditures are seen rising 1.4%.</p></body></html>","source":"lsy1610680873436","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>Moderna, Alibaba, Coinbase, Home Depot, Etsy, and Other Stocks to Watch This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nModerna, Alibaba, Coinbase, Home Depot, Etsy, and Other Stocks to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-22 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stocks-to-watch-this-week-moderna-alibaba-coinbase-51645240255><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stock and bond markets will be closed for Presidents Day on Monday. Fourth-quarter earning season resumes when Wall Street returns, with results from Agilent Technologies, Home Depot, and ...</p>\n\n<a href=\"https://www.barrons.com/articles/stocks-to-watch-this-week-moderna-alibaba-coinbase-51645240255\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ETSY":"Etsy, Inc.","BABA":"阿里巴巴","HD":"家得宝","COIN":"Coinbase Global, Inc.","MRNA":"Moderna, Inc."},"source_url":"https://www.barrons.com/articles/stocks-to-watch-this-week-moderna-alibaba-coinbase-51645240255","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132983285","content_text":"U.S. stock and bond markets will be closed for Presidents Day on Monday. Fourth-quarter earning season resumes when Wall Street returns, with results from Agilent Technologies, Home Depot, and Medtronic on Tuesday. On Wednesday, Booking Holdings, eBay, Lowe’s, Stellantis, and TJX report.Thursday will be particularly busy: Alibaba Group Holding, Anheuser-Busch InBev, Coinbase Global, Dell Technologies, Etsy, Moderna, Newmont, Norwegian Cruise Line Holdings, and Occidental Petroleum will be among the highlights. Finally, EOG Resources and Liberty Media close the week on Friday.The economic data highlights of the week will include IHS Markit’s Manufacturing and Services Purchasing Managers’ Indexes for February and the Conference Board’s Consumer Confidence Index for February––all on Tuesday. The surveys are each expected to come in flat to down versus January.The Census Bureau will also report January durable-goods orders on Friday, which are often seen as a proxy for business investment. Finally, the Bureau of Economic Analysis will report personal income and spending for January on Friday. American consumers are expected to have spent more and earned slightly less compared with the prior month.Monday 2/21Stock and fixed-income markets are closed in observance of Presidents Day.Tuesday 2/22Agilent Technologies, Cadence Design Systems, CenterPoint Energy, Home Depot, Medtronic, Palo Alto Networks, Public Storage, and Realty Income release earnings.IHS Markit releases its Manufacturing and Services Purchasing Managers’ Indexes for February. Consensus estimates are for a 56 reading for the Manufacturing PMI and a 52.2 for the Services PMI. This compares with 55.5 and 51.2, respectively, in January. The January Services PMI was the lowest reading since July 2020.The Conference Board releases its Consumer Confidence Index for February. Economists forecast a 110.8 reading, roughly three points less than the January data.Wednesday 2/23Booking Holdings, Coterra Energy, eBay, Lowe’s, Molson Coors Beverage, Stellantis, and TJX Cos. report quarterly results.The General Assembly of the United Nations holds a meeting to debate the ongoing tensions in Ukraine.Cummins holds its 2022 analyst day.Thursday 2/24The BEA reports its second estimate of fourth-quarter 2021 gross domestic product. Economists forecast a 5.9% seasonally adjusted annual growth rate, one percentage less than the advance estimate of 6.9%.Alibaba Group Holding, Anheuser-Busch InBev, American Electric Power, Autodesk, Block, CBRE Group, Coinbase Global, Dell Technologies, Etsy, Intuit, Moderna, Newmont, Norwegian Cruise Line Holdings, NRG Energy, Occidental Petroleum, Public Service Enterprise Group, Royal Bank of Canada, and VMware release earnings.The Census Bureau reports new-home sales for January. Expectations are for a seasonally adjusted annual rate of 792,000 new single-family houses sold, 19,000 fewer than in December.Friday 2/25Canadian Imperial Bank of Commerce, EOG Resources, Liberty Media, and Sempra Energy hold conference calls to discuss quarterly results.The Census Bureau releases the January durable-goods report. Consensus estimate is for new orders for manufactured durable goods to rise 1% month over month to $270.3 billion.The National Association of Realtors releases its Pending Home Sales index for January. In December, pending home sales fell 3.8%, the second consecutive month of declines. Rising mortgage rates and record-high home prices have taken some of the wind out of the housing market.The BEA reports personal income and spending for January. Income is expected to decline 0.3% month over month, while expenditures are seen rising 1.4%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097637623,"gmtCreate":1645436463851,"gmtModify":1676534027614,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097637623","repostId":"1109859427","repostType":4,"repost":{"id":"1109859427","pubTimestamp":1645433293,"share":"https://ttm.financial/m/news/1109859427?lang=&edition=fundamental","pubTime":"2022-02-21 16:48","market":"us","language":"en","title":"Apple: Thief","url":"https://stock-news.laohu8.com/highlight/detail?id=1109859427","media":"Seeking Alpha","summary":"SummaryA trillion in revenue will require stealing markets from incumbents. One company is best pois","content":"<html><head></head><body><p>Summary</p><ul><li>A trillion in revenue will require stealing markets from incumbents. One company is best poised to ascend to the Iron Throne of theft.</li><li>At our Pivot MIA conference this week, my NYU colleague Aswath Damodaran called Apple a “rare exception” to the life cycle rules that govern almost all companies.</li><li>If it’s the first company to get to $1 trillion, and we think it will be, it’ll likely be because Cook &amp; Company isn’t in a hurry to get there.</li></ul><p>Round numbers have no inherent meaning - they’re a consequence of 10 fingers. But they provide a benchmark, a way to focus our observations. The last few years in tech, we’ve witnessed several firms breach $1 trillion market capitalizations, a few hit $2 trillion, and one touch $3 trillion.</p><p>Let’s set a more audacious goal: $1 trillion in<i>revenue</i>. We’re still a few years away - the largest company by revenue today, Walmart (WMT), brought in $559 billion last fiscal year. And while market cap can fluctuate 20%+ in several minutes, revenue is closer to the epicenter of stakeholder value, because it benchmarks actual commerce. The English call revenue “turnover,” which conveys someone doing actual work.</p><p><img src=\"https://static.tigerbbs.com/4662cb276511aecd73c90a13bf5f0984\" tg-width=\"1280\" tg-height=\"722\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author</p><p>The Great Heist</p><p>Revenue of $1 trillion won’t be found in a single category. Few categories even offer a $1 trillion market, and market dominance in any category comes with problems. It’s better to have a 20% share of five markets than 100% of one. Diversity offers security, and monopolies attract legal attention: Facebook (FB) and Google’s (GOOG,GOOGL) shared dominance of digital advertising makes it easier to fit them into the antitrust legal framework.</p><p>A trillion in revenue will require stealing markets from incumbents. It’s already happening in Big Tech: Amazon (AMZN) flew head-on into the cloud, Microsoft (MSFT) is eating gaming, and in the next decade, we will see<i>The Great Heist: $1 Trillion Edition</i>. One company is best poised to ascend to the Iron Throne of theft.</p><p>Six-Shooter</p><p>Apple’s (AAPL) sidearm is a thermonuclear device. Each bullet, an unmatched asset.</p><p><img src=\"https://static.tigerbbs.com/8b5b217143d1b49bc51828693ece668c\" tg-width=\"1280\" tg-height=\"722\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author</p><p><b>Familiar operating system</b></p><p>For the wealthiest billion people on earth, iOS is the operating system of their life. When presented with a “smart” television, home, car, or retail store, they don’t want to learn a second language.</p><p><b>Epicenter</b></p><p>The iPhone, the most successful consumer product in history, is the epicenter of tech. The phone contains speakers and microphones, a barometer, an accelerometer, a proximity sensor, an ambient light sensor, a gyroscope, and four cameras. And it connects a web of interfaced devices that meet you everywhere: living room (Apple TV), kitchen (HomePod), keys (AirTags), ears (AirPods), and wrist (Apple Watch). Nobody else has this, or any discernible path to it. The Android ecosystem is fragmented across a dozen competitors; Alexa can’t leave the house alone; and Facebook (Meta) has given up on the real world entirely.</p><p><b>Beachheads</b></p><p>Apple has established a beachhead in multiple businesses beyond its core hardware products, including payments (Apple Pay, Apple Card, Apple Cash), games (App Store, Apple Arcade), media (Apple TV+, Apple Music, Apple News), mapping (Apple Maps), cloud and email services (iCloud), and even advertising (App Store Search Ads).</p><p><b>Hardware expertise</b></p><p>As capital increasingly funneled to a monster that would eat the world (software), Apple further differentiated its hardware competence. Think about it: There are dozens of great software firms, but scant firms (i.e., one) that have dominated hardware for decades. Nobody rivals Apple’s refined hardware or ability to produce actual things on a global scale. The company shipped 236 million iPhones and 58 million iPads in 2021. That’s a stack of devices 1,400 miles high - 23 times further than Bezos’ trip to “space.”</p><p><b>Trust</b></p><p>Most battles are determined before the first shot is fired. The cache of the invading army here is trust. One of the great brand moves in history was anticipating the increasing relevance of privacy and staking huge capital and focus on it. Apple’s much vauntediOS tracking change was a ninja move, registering damage not from sheer force, but by striking where it hurts the most. Violating privacy is central to the business model of Apple’s rivals, and thwarting that has left them befuddled.</p><p><b>Capital</b></p><p>In 2021, Apple generated an astounding $93 billion in free cash flow (operating cash flow minus capital expenditures), which are funds it can allocate toward new opportunities. That’s on top of a $22 billion R&amp;D budget. Meaning Apple has potentially $126 billion annually to invest in new battles. This number is staggering and singular.</p><p><img src=\"https://static.tigerbbs.com/7f0359656a423d6f5810b58252514694\" tg-width=\"1280\" tg-height=\"722\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author</p><p>And Apple’s stock is also currency. Tech companies routinely make acquisitions equal to 10% or more of their total value. What could Apple purchase with 10% of its market cap?</p><p><img src=\"https://static.tigerbbs.com/30c7db3fd95a5846c7425a8e3a637933\" tg-width=\"1280\" tg-height=\"757\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author</p><p>BTW, 10% of Apple is $290 billion.</p><p><img src=\"https://static.tigerbbs.com/71d0e41b82cd74949b69a68ab9c70e75\" tg-width=\"1280\" tg-height=\"747\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Author</p><p>Apple could swallow all these firms and the <i>total</i> haul would represent a smaller acquisition, on a relative basis, than Salesforce (CRM) buying Slack. And then, the following year, Apple could buy Salesforce ($197 billion market cap). That’s not to say Apple could or should try to buy into all these markets at once, but its market cap gives the company virtually unlimited strategic agility.</p><p>So with more than $100 billion in cash and $290+ billion for M&amp;A, where might Apple go next?</p><p>Tim Cook’s mantra is “the intersection of hardware, software, and services.” He said it twice on the company’s last earnings call, and words uttered in these calls are a tell for a firm’s plans. What does that cover? Better question: What doesn’t it cover?</p><p>Let’s Get Ready to Rundle</p><p>Apple’s road to $1 trillion in revenue starts with the markets it’s already in. iDevices and Macs are still setting sales records. But there’s more upside in Apple’s ancillary markets.</p><p>Apple Pay removes at least five steps of motor function required to pull out a credit card. Our lizard brain doesn’t want to fumble with wallets and pockets, and our conscious brain understands there’s no reason a cheap piece of branded plastic processes a payment better. Today, we tap. Tomorrow, Siri will confirm payment via our AirPods.</p><p>Apple has gotten off the sidelines in gaming. Mobile gaming is a nearly $100 billion market, larger than PC and console gaming combined, and 45% of it flows through the iOS App Store, where Apple charges a mob-like 30% toll.</p><p>Apple TV+ produces <i>Murphy Brown</i> on a <i>Game of Thrones</i> budget, and it’s thus far been underwhelming. But it doesn’t matter - eventually, the army with the most tanks wins. And Apple’s armament makes NATO look like Peacock. I just read the last sentence, and it makes almost no sense, but I’m too lazy to fix it. (It’s late - 4 a.m. in Tulum.)</p><p>As strong as these businesses are, Apple can unlock more value by rolling them together into the ultimate subscription product: You’d pay one monthly fee for all your Apple needs. The company currently offers Apple One, combining the company’s media and cloud services, and, separately, the iPhone Upgrade Program, which offers a new iPhone annually in return for a monthly fee. Serving up the latest hardware (auto-shipped on release) is a no-brainer and likely coming. But Apple shouldn’t (and won’t) stop there.</p><p>So let’s play Tim Cook. Going full rundle will maintain Apple’s historic 7%-8% annual revenue growth - the company will generate<i>$650 billion in revenue by 2030</i>. That leaves $350 billion it needs to take from someone else.</p><p>Let’s light this candle.</p><p>Consumer Banking</p><p>Banks offer two things: capital and trust. Done and done. The next step is to let people direct their paycheck auto-deposit into their Apple Cash account (perhaps offering a modest interest rate), so they can send money or print checks to recipients not on Apple Cash. Apple could/will offer checking/savings accounts with modest tweaks to existing features.</p><p>From there, Apple moves into loans and investment products. Auto loans (offering a preferred rate on an Apple Car?), home mortgages, lines of credit. It might stretch Apple’s brand to go full Robinhood (HOOD), with margin trading and crypto, but it could do something akin to Goldman’s (GS) Marcus product, a robo-advisor that directs customer’s investments toward diversified holdings.</p><p>The largest U.S. banks each pull in around $35 billion in consumer banking revenue. Investment advisers such as Schwab(NYSE:SCHW)and Fidelity(NYSE:FNF)generate $10 billion to $20 billion in turnover. The industry is awash in new entrants and uncertainty. Apple is a global player that already has many of the pieces in place. By 2030, this is a <i>$75 billion</i> business for the Iron Bank of Cupertino.</p><p>Search</p><p>Search is the most potent advertising channel in history. It’s the bottom of the funnel for trillions in consumer purchases, the point of maximum leverage for marketers. Google made $149 billion in revenue from advertising against search results last year - greater than the total for global TV and radio businesses, and soon print, combined. Apple is already in this business, albeit in a smaller way, selling ads against App Store searches. Search is too big to ignore.</p><p>Moving into search would initially<i>decrease</i>Apple’s revenue, as the company would forfeit the estimated$15 billion per year Google pays to be the default search engine on the iPhone. But it’s a strategic unlock. Keeping iOS searches inside the Apple ecosystem, and integrating results with the contacts, calendars, locations, and other data in that ecosystem, would make the whole show more valuable (and undermine the value of Google’s ecosystem), driving year-over-year growth in Apple’s iCloud subscriptions and its soon-to-be-supercharged rundle. It’s coming. Apple has gone vertical in a variety of categories (i.e., microprocessors) that appeared unthinkable at the time.</p><p>Apple is unlikely to squeeze as much ad revenue from searches as Google: The search giant has structural advantages thanks to its role across the ad ecosystem, two decades of advertising AI expertise, and the absence of any moral compass. But <i>$50 billion</i> in annual revenue by 2030 is within reach.</p><p>Health</p><p>To date, Apple has positioned the health capabilities of the Apple Watch as a feel-good consumer benefit. Fall down, it calls 911. Have an irregular heart beat, it tells you to contact a cardiologist. But on Apple’s most recent earnings call, Tim Cook said, “we’re still in the early innings with our health work.” Apple is continuing to build an array of sensors (hardware) and data mining and analysis tools (software). The low-hanging fruit: athletic heart rate monitors. A bit further up the tree:hearing aids. But what’s likely next? Services.</p><p>“Hey Siri, does this mole look suspicious to you?”</p><p>UnlessCVSstarts putting devices in customers’ hands, the best decision it can make is to pay to become the default integrated health-care provider on the iPhone - the medical version of the Apple-Google search contract. Google pays about 6% of its revenue for that contract. If CVS made the same calculation, Apple would receive another $17 billion direct deposit every year.</p><p>Or, Apple could just…<i>become</i> CVS. There’s nothing stopping the company from turning the iPhone into a homing device for a network of JOKR-like dark stores that could deliver every consumer healthcare item (plus diapers) to your doorstep. Health services and premiums aside, Apple could take out CVS’s product sales. What’s reasonable? Half? A third? Let’s say a quarter:<i>$75 billion</i> by 2030.</p><p>Fitness</p><p>A year ago, I said Peloton’s (PTON) $36 billion valuation was hard to justify. For Apple, however, I said it would be difficult not to justify paying $36 billion for two to four hours of attention per week from the most influential people on the planet. Peloton is now 70% off at $10 billion.</p><p><img src=\"https://static.tigerbbs.com/9b820993f6c9624801f6355664bb332a\" tg-width=\"1280\" tg-height=\"722\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Peloton Market Cap(Author)</p><p>Peloton projects $5 billion in revenue this year, but that’s without the power of Apple behind it. Fitness is a much bigger market. Roughly 64 million Americans belong to a health club, a $40 billion industry. Gym members skew (are) rich - I speculate 75% of these people own an iPhone. NIKE (NKE) makes nearly $50 billion in annual revenue. This is a <i>$20 billion</i> business for Apple by 2030.</p><p>Home</p><p>Home automation is an $80 billion market, thanks to the potential for upgraded appliances, new tech, and services. The current Apple Home offering is weak, but once the company aims that $22 billion R&amp;D cannon at it, the Apple brand will be a huge differentiator in a category that involves listening to your every word and watching your every move. In addition, the amount of friction in home automation is maddening. Apple reigns supreme at integrating devices, and this is where the familiar interface of iOS and that central hub in your pocket can really shine.</p><p>Connected doorbells, thermostats, and speakers are nice, but one device rules the American home: the big-screen TV. Rumors of an Apple television are a Silicon Valley evergreen. The global smart TV market is worth more than $300 billion and projected to grow to nearly $1 trillion by 2028. It’s a natural fit for Apple, which makes industry-leading displays from 1 to 32 inches in size (including the $6,000 nano-textured glass Pro Display XDR). It will be bundled with Apple TV+ and integrate the Apple ecosystem and features including FaceTime and SharePlay.</p><p>I don’t see Apple getting into connected refrigerators by 2030 (not saying I wouldn’t buy one), but between smart TVs, automation control, and other devices, this is another <i>$20 billion</i> opportunity.</p><p>Cars</p><p>This one’s obvious: The first overnight $250+ billion transfer of shareholder value from a guy who finds humor in Hitler memes to a guy who’d never find himself in that position will occur when Tim Cook stands on stage in front of an automobile bearing an Apple logo.</p><p>The Apple Car is in the works, and it could transform the company’s business just as the iPhone did. And not to get carried away with market cap, but imagine how much Apple will be worth if it starts receiving the multiples that are now standard in the electrical vehicle market.</p><p><img src=\"https://static.tigerbbs.com/7f5b3e10ce89385d355d89f0df1e7fa6\" tg-width=\"1280\" tg-height=\"756\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Seeking Alpha</p><p>Tesla (TSLA) controls roughly 70% of the U.S. EV market today and does more than $50 billion in revenue per year. Tesla’s revenue is a drunk tourist stumbling home late at night wearing a Hublot. Apple taking half of Tesla’s sales is, in my view, a conservative estimate: $25 billion. This is a high growth market, and I expect to see<i>$50 billion</i> in Apple Cars driving themselves off the lot by 2030. Tim Cook cost Facebook a quarter of its market cap just flexing its privacy muscles - the Apple Car will cost the inner child from outer space a similar share of the value of his firm.</p><p>Identity and Inconveniences</p><p>The breadth of Apple’s ecosystem will sweep up many more <i>relatively</i> small opportunities. Anywhere that requires an ID to enter could turn that infrastructure over to Apple. Expedited airport security as a premium service, a la Clear, is an obvious fit, and why wouldn’t Madison Square Garden and The Colosseum at Caesars Palace just hand over the whole interface to Apple? Let’s call it $4 billion.</p><p>And then there’s my domain: education. It’s time for Apple to show up at reunion as an alumni who wants to make their mark. U.S. education from preschool to college is in dire need of a technological revolution. The leading provider is Blackboard, a privately held business with products that are… OK. Apple could become the operating system of education - an alchemy of Chegg (CHGG), Coursera (COUR), and Udemy (UDMY): $2 billion per year.</p><p>Blend up all these and more, Apple could be generating<i>$10 billion</i> in revenue from businesses that fall into its lap.</p><p>B2B</p><p>It’s an inevitable part of the tech cycle - innovation sparks in the consumer space, but as the tech matures, the smart players head where the real money is… the business-to-business economy. In 2020, Appleacquireda startup called Mobeewave for $100 million. It wasn’t a sexy brand acquisition like Beats, so no one cared. But we should have. Mobeewave develops technology that lets smartphones process payments with the tap of a credit card. In other words, it turns iPhones into credit card readers.</p><p>This is bad news for payment processors. Especially Square (SQ), which has been hard at work installing terminals in coffee shops since 2009. Apple’s strategy will be different. It’ll simply turn on a feature in the next software update and boom:a billion credit card machines. Out of the gate, Square offers a suite of services that Apple doesn’t, so this looks like a partnership. Sure, like a virus partners with a host.</p><p>Today, Apple relies on AWS and Google to supplement its own data centers, just to handle its consumer iCloud business. But the company is one of the largest data center operators in the world, and it’s finishing a five-year,$10 billion expansion. It’s only a matter of time before Apple flips the script and offers its own commercial cloud services.</p><p>Half of Square’s revenue (not including its “revenue” from Bitcoin) + half of AWS’s revenue = $35 billion. Eight years later, it’s<i>$50 billion</i>.</p><p>Will I Dream?</p><p>Imagine Apple executed the above. We’d have the first $1 trillion revenue company.</p><p><img src=\"https://static.tigerbbs.com/e665c06426842bb5e4c523724813737d\" tg-width=\"1280\" tg-height=\"722\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Apple&#39;s road to $1 Trillion(Author using company data)</p><p>At our Pivot MIA conference this week, my NYU colleague Aswath Damodaran called Apple a “rare exception” to the life cycle rules that govern almost all companies. He credits its success in part to discipline. The largest acquisition the company has ever made? A mere $3 billion for Beats - nearly eight years ago. They’ve been looking at cars, AR, and televisions for a decade or more. If it’s the first company to get to $1 trillion, and we think it will be, it’ll likely be because Cook &amp; Company isn’t in a hurry to get there.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: Thief</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple: Thief\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-21 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4488550-apple-aapl-stock-thief><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryA trillion in revenue will require stealing markets from incumbents. One company is best poised to ascend to the Iron Throne of theft.At our Pivot MIA conference this week, my NYU colleague ...</p>\n\n<a href=\"https://seekingalpha.com/article/4488550-apple-aapl-stock-thief\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4488550-apple-aapl-stock-thief","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109859427","content_text":"SummaryA trillion in revenue will require stealing markets from incumbents. One company is best poised to ascend to the Iron Throne of theft.At our Pivot MIA conference this week, my NYU colleague Aswath Damodaran called Apple a “rare exception” to the life cycle rules that govern almost all companies.If it’s the first company to get to $1 trillion, and we think it will be, it’ll likely be because Cook & Company isn’t in a hurry to get there.Round numbers have no inherent meaning - they’re a consequence of 10 fingers. But they provide a benchmark, a way to focus our observations. The last few years in tech, we’ve witnessed several firms breach $1 trillion market capitalizations, a few hit $2 trillion, and one touch $3 trillion.Let’s set a more audacious goal: $1 trillion inrevenue. We’re still a few years away - the largest company by revenue today, Walmart (WMT), brought in $559 billion last fiscal year. And while market cap can fluctuate 20%+ in several minutes, revenue is closer to the epicenter of stakeholder value, because it benchmarks actual commerce. The English call revenue “turnover,” which conveys someone doing actual work.AuthorThe Great HeistRevenue of $1 trillion won’t be found in a single category. Few categories even offer a $1 trillion market, and market dominance in any category comes with problems. It’s better to have a 20% share of five markets than 100% of one. Diversity offers security, and monopolies attract legal attention: Facebook (FB) and Google’s (GOOG,GOOGL) shared dominance of digital advertising makes it easier to fit them into the antitrust legal framework.A trillion in revenue will require stealing markets from incumbents. It’s already happening in Big Tech: Amazon (AMZN) flew head-on into the cloud, Microsoft (MSFT) is eating gaming, and in the next decade, we will seeThe Great Heist: $1 Trillion Edition. One company is best poised to ascend to the Iron Throne of theft.Six-ShooterApple’s (AAPL) sidearm is a thermonuclear device. Each bullet, an unmatched asset.AuthorFamiliar operating systemFor the wealthiest billion people on earth, iOS is the operating system of their life. When presented with a “smart” television, home, car, or retail store, they don’t want to learn a second language.EpicenterThe iPhone, the most successful consumer product in history, is the epicenter of tech. The phone contains speakers and microphones, a barometer, an accelerometer, a proximity sensor, an ambient light sensor, a gyroscope, and four cameras. And it connects a web of interfaced devices that meet you everywhere: living room (Apple TV), kitchen (HomePod), keys (AirTags), ears (AirPods), and wrist (Apple Watch). Nobody else has this, or any discernible path to it. The Android ecosystem is fragmented across a dozen competitors; Alexa can’t leave the house alone; and Facebook (Meta) has given up on the real world entirely.BeachheadsApple has established a beachhead in multiple businesses beyond its core hardware products, including payments (Apple Pay, Apple Card, Apple Cash), games (App Store, Apple Arcade), media (Apple TV+, Apple Music, Apple News), mapping (Apple Maps), cloud and email services (iCloud), and even advertising (App Store Search Ads).Hardware expertiseAs capital increasingly funneled to a monster that would eat the world (software), Apple further differentiated its hardware competence. Think about it: There are dozens of great software firms, but scant firms (i.e., one) that have dominated hardware for decades. Nobody rivals Apple’s refined hardware or ability to produce actual things on a global scale. The company shipped 236 million iPhones and 58 million iPads in 2021. That’s a stack of devices 1,400 miles high - 23 times further than Bezos’ trip to “space.”TrustMost battles are determined before the first shot is fired. The cache of the invading army here is trust. One of the great brand moves in history was anticipating the increasing relevance of privacy and staking huge capital and focus on it. Apple’s much vauntediOS tracking change was a ninja move, registering damage not from sheer force, but by striking where it hurts the most. Violating privacy is central to the business model of Apple’s rivals, and thwarting that has left them befuddled.CapitalIn 2021, Apple generated an astounding $93 billion in free cash flow (operating cash flow minus capital expenditures), which are funds it can allocate toward new opportunities. That’s on top of a $22 billion R&D budget. Meaning Apple has potentially $126 billion annually to invest in new battles. This number is staggering and singular.AuthorAnd Apple’s stock is also currency. Tech companies routinely make acquisitions equal to 10% or more of their total value. What could Apple purchase with 10% of its market cap?AuthorBTW, 10% of Apple is $290 billion.AuthorApple could swallow all these firms and the total haul would represent a smaller acquisition, on a relative basis, than Salesforce (CRM) buying Slack. And then, the following year, Apple could buy Salesforce ($197 billion market cap). That’s not to say Apple could or should try to buy into all these markets at once, but its market cap gives the company virtually unlimited strategic agility.So with more than $100 billion in cash and $290+ billion for M&A, where might Apple go next?Tim Cook’s mantra is “the intersection of hardware, software, and services.” He said it twice on the company’s last earnings call, and words uttered in these calls are a tell for a firm’s plans. What does that cover? Better question: What doesn’t it cover?Let’s Get Ready to RundleApple’s road to $1 trillion in revenue starts with the markets it’s already in. iDevices and Macs are still setting sales records. But there’s more upside in Apple’s ancillary markets.Apple Pay removes at least five steps of motor function required to pull out a credit card. Our lizard brain doesn’t want to fumble with wallets and pockets, and our conscious brain understands there’s no reason a cheap piece of branded plastic processes a payment better. Today, we tap. Tomorrow, Siri will confirm payment via our AirPods.Apple has gotten off the sidelines in gaming. Mobile gaming is a nearly $100 billion market, larger than PC and console gaming combined, and 45% of it flows through the iOS App Store, where Apple charges a mob-like 30% toll.Apple TV+ produces Murphy Brown on a Game of Thrones budget, and it’s thus far been underwhelming. But it doesn’t matter - eventually, the army with the most tanks wins. And Apple’s armament makes NATO look like Peacock. I just read the last sentence, and it makes almost no sense, but I’m too lazy to fix it. (It’s late - 4 a.m. in Tulum.)As strong as these businesses are, Apple can unlock more value by rolling them together into the ultimate subscription product: You’d pay one monthly fee for all your Apple needs. The company currently offers Apple One, combining the company’s media and cloud services, and, separately, the iPhone Upgrade Program, which offers a new iPhone annually in return for a monthly fee. Serving up the latest hardware (auto-shipped on release) is a no-brainer and likely coming. But Apple shouldn’t (and won’t) stop there.So let’s play Tim Cook. Going full rundle will maintain Apple’s historic 7%-8% annual revenue growth - the company will generate$650 billion in revenue by 2030. That leaves $350 billion it needs to take from someone else.Let’s light this candle.Consumer BankingBanks offer two things: capital and trust. Done and done. The next step is to let people direct their paycheck auto-deposit into their Apple Cash account (perhaps offering a modest interest rate), so they can send money or print checks to recipients not on Apple Cash. Apple could/will offer checking/savings accounts with modest tweaks to existing features.From there, Apple moves into loans and investment products. Auto loans (offering a preferred rate on an Apple Car?), home mortgages, lines of credit. It might stretch Apple’s brand to go full Robinhood (HOOD), with margin trading and crypto, but it could do something akin to Goldman’s (GS) Marcus product, a robo-advisor that directs customer’s investments toward diversified holdings.The largest U.S. banks each pull in around $35 billion in consumer banking revenue. Investment advisers such as Schwab(NYSE:SCHW)and Fidelity(NYSE:FNF)generate $10 billion to $20 billion in turnover. The industry is awash in new entrants and uncertainty. Apple is a global player that already has many of the pieces in place. By 2030, this is a $75 billion business for the Iron Bank of Cupertino.SearchSearch is the most potent advertising channel in history. It’s the bottom of the funnel for trillions in consumer purchases, the point of maximum leverage for marketers. Google made $149 billion in revenue from advertising against search results last year - greater than the total for global TV and radio businesses, and soon print, combined. Apple is already in this business, albeit in a smaller way, selling ads against App Store searches. Search is too big to ignore.Moving into search would initiallydecreaseApple’s revenue, as the company would forfeit the estimated$15 billion per year Google pays to be the default search engine on the iPhone. But it’s a strategic unlock. Keeping iOS searches inside the Apple ecosystem, and integrating results with the contacts, calendars, locations, and other data in that ecosystem, would make the whole show more valuable (and undermine the value of Google’s ecosystem), driving year-over-year growth in Apple’s iCloud subscriptions and its soon-to-be-supercharged rundle. It’s coming. Apple has gone vertical in a variety of categories (i.e., microprocessors) that appeared unthinkable at the time.Apple is unlikely to squeeze as much ad revenue from searches as Google: The search giant has structural advantages thanks to its role across the ad ecosystem, two decades of advertising AI expertise, and the absence of any moral compass. But $50 billion in annual revenue by 2030 is within reach.HealthTo date, Apple has positioned the health capabilities of the Apple Watch as a feel-good consumer benefit. Fall down, it calls 911. Have an irregular heart beat, it tells you to contact a cardiologist. But on Apple’s most recent earnings call, Tim Cook said, “we’re still in the early innings with our health work.” Apple is continuing to build an array of sensors (hardware) and data mining and analysis tools (software). The low-hanging fruit: athletic heart rate monitors. A bit further up the tree:hearing aids. But what’s likely next? Services.“Hey Siri, does this mole look suspicious to you?”UnlessCVSstarts putting devices in customers’ hands, the best decision it can make is to pay to become the default integrated health-care provider on the iPhone - the medical version of the Apple-Google search contract. Google pays about 6% of its revenue for that contract. If CVS made the same calculation, Apple would receive another $17 billion direct deposit every year.Or, Apple could just…become CVS. There’s nothing stopping the company from turning the iPhone into a homing device for a network of JOKR-like dark stores that could deliver every consumer healthcare item (plus diapers) to your doorstep. Health services and premiums aside, Apple could take out CVS’s product sales. What’s reasonable? Half? A third? Let’s say a quarter:$75 billion by 2030.FitnessA year ago, I said Peloton’s (PTON) $36 billion valuation was hard to justify. For Apple, however, I said it would be difficult not to justify paying $36 billion for two to four hours of attention per week from the most influential people on the planet. Peloton is now 70% off at $10 billion.Peloton Market Cap(Author)Peloton projects $5 billion in revenue this year, but that’s without the power of Apple behind it. Fitness is a much bigger market. Roughly 64 million Americans belong to a health club, a $40 billion industry. Gym members skew (are) rich - I speculate 75% of these people own an iPhone. NIKE (NKE) makes nearly $50 billion in annual revenue. This is a $20 billion business for Apple by 2030.HomeHome automation is an $80 billion market, thanks to the potential for upgraded appliances, new tech, and services. The current Apple Home offering is weak, but once the company aims that $22 billion R&D cannon at it, the Apple brand will be a huge differentiator in a category that involves listening to your every word and watching your every move. In addition, the amount of friction in home automation is maddening. Apple reigns supreme at integrating devices, and this is where the familiar interface of iOS and that central hub in your pocket can really shine.Connected doorbells, thermostats, and speakers are nice, but one device rules the American home: the big-screen TV. Rumors of an Apple television are a Silicon Valley evergreen. The global smart TV market is worth more than $300 billion and projected to grow to nearly $1 trillion by 2028. It’s a natural fit for Apple, which makes industry-leading displays from 1 to 32 inches in size (including the $6,000 nano-textured glass Pro Display XDR). It will be bundled with Apple TV+ and integrate the Apple ecosystem and features including FaceTime and SharePlay.I don’t see Apple getting into connected refrigerators by 2030 (not saying I wouldn’t buy one), but between smart TVs, automation control, and other devices, this is another $20 billion opportunity.CarsThis one’s obvious: The first overnight $250+ billion transfer of shareholder value from a guy who finds humor in Hitler memes to a guy who’d never find himself in that position will occur when Tim Cook stands on stage in front of an automobile bearing an Apple logo.The Apple Car is in the works, and it could transform the company’s business just as the iPhone did. And not to get carried away with market cap, but imagine how much Apple will be worth if it starts receiving the multiples that are now standard in the electrical vehicle market.Seeking AlphaTesla (TSLA) controls roughly 70% of the U.S. EV market today and does more than $50 billion in revenue per year. Tesla’s revenue is a drunk tourist stumbling home late at night wearing a Hublot. Apple taking half of Tesla’s sales is, in my view, a conservative estimate: $25 billion. This is a high growth market, and I expect to see$50 billion in Apple Cars driving themselves off the lot by 2030. Tim Cook cost Facebook a quarter of its market cap just flexing its privacy muscles - the Apple Car will cost the inner child from outer space a similar share of the value of his firm.Identity and InconveniencesThe breadth of Apple’s ecosystem will sweep up many more relatively small opportunities. Anywhere that requires an ID to enter could turn that infrastructure over to Apple. Expedited airport security as a premium service, a la Clear, is an obvious fit, and why wouldn’t Madison Square Garden and The Colosseum at Caesars Palace just hand over the whole interface to Apple? Let’s call it $4 billion.And then there’s my domain: education. It’s time for Apple to show up at reunion as an alumni who wants to make their mark. U.S. education from preschool to college is in dire need of a technological revolution. The leading provider is Blackboard, a privately held business with products that are… OK. Apple could become the operating system of education - an alchemy of Chegg (CHGG), Coursera (COUR), and Udemy (UDMY): $2 billion per year.Blend up all these and more, Apple could be generating$10 billion in revenue from businesses that fall into its lap.B2BIt’s an inevitable part of the tech cycle - innovation sparks in the consumer space, but as the tech matures, the smart players head where the real money is… the business-to-business economy. In 2020, Appleacquireda startup called Mobeewave for $100 million. It wasn’t a sexy brand acquisition like Beats, so no one cared. But we should have. Mobeewave develops technology that lets smartphones process payments with the tap of a credit card. In other words, it turns iPhones into credit card readers.This is bad news for payment processors. Especially Square (SQ), which has been hard at work installing terminals in coffee shops since 2009. Apple’s strategy will be different. It’ll simply turn on a feature in the next software update and boom:a billion credit card machines. Out of the gate, Square offers a suite of services that Apple doesn’t, so this looks like a partnership. Sure, like a virus partners with a host.Today, Apple relies on AWS and Google to supplement its own data centers, just to handle its consumer iCloud business. But the company is one of the largest data center operators in the world, and it’s finishing a five-year,$10 billion expansion. It’s only a matter of time before Apple flips the script and offers its own commercial cloud services.Half of Square’s revenue (not including its “revenue” from Bitcoin) + half of AWS’s revenue = $35 billion. Eight years later, it’s$50 billion.Will I Dream?Imagine Apple executed the above. We’d have the first $1 trillion revenue company.Apple's road to $1 Trillion(Author using company data)At our Pivot MIA conference this week, my NYU colleague Aswath Damodaran called Apple a “rare exception” to the life cycle rules that govern almost all companies. He credits its success in part to discipline. The largest acquisition the company has ever made? A mere $3 billion for Beats - nearly eight years ago. They’ve been looking at cars, AR, and televisions for a decade or more. If it’s the first company to get to $1 trillion, and we think it will be, it’ll likely be because Cook & Company isn’t in a hurry to get there.","news_type":1},"isVote":1,"tweetType":1,"viewCount":546,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097609493,"gmtCreate":1645423271119,"gmtModify":1676534026896,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097609493","repostId":"2212670139","repostType":2,"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097180576,"gmtCreate":1645393020744,"gmtModify":1676534022482,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097180576","repostId":"2212245076","repostType":4,"repost":{"id":"2212245076","pubTimestamp":1645345805,"share":"https://ttm.financial/m/news/2212245076?lang=&edition=fundamental","pubTime":"2022-02-20 16:30","market":"us","language":"en","title":"3 Stocks That Turned $5,000 Into $10,000 (or More) in Just a Few Years","url":"https://stock-news.laohu8.com/highlight/detail?id=2212245076","media":"Motley Fool","summary":"Investors don't have to find a proverbial diamond in the rough to score big gains. They just have to look for sustainable growth and settle in.","content":"<html><head></head><body><p>Contrary to a commonly held belief, the buy-and-hold approach to investing isn&#39;t dead. It&#39;s not even on the defensive, nor does it only work if you find the market&#39;s up-and-comers at the right time. You can still reap huge profits using blue-chip stocks well after they&#39;ve become blue chips.</p><p>Here&#39;s a closer look at three familiar names that dished out triple-digit percentage gains on their stocks just within the past few years, and could do the same again over the course of the next few years.</p><h2>1. Alphabet</h2><p><b>Alphabet</b> (NASDAQ:GOOG) (NASDAQ:GOOGL) is of course the company behind search engine behemoth Google, which according to GlobalStats&#39; statcounter handles more than 90% of the world&#39;s web searches -- a market share the company has enjoyed for a long, long time. The Google brand also accounts for around two-thirds of Alphabet&#39;s top line, and (for the time being, anyway) all of the company&#39;s actual profits.</p><p>And what profit growth we&#39;ve seen. Last year&#39;s net income of $76 billion is leaps and bounds better than the $9.7 billion bottom line the company produced 10 years ago, back in 2011. The stock&#39;s price has rallied nearly 800% during that timeframe, from $305 per share then to $2,720 now.</p><p>That&#39;s a tough act to follow, leading some investors to think Alphabet&#39;s highest-growth days are behind it. And, perhaps they are. The world certainly seems to already be using the world wide web as much as it feasibly can. What&#39;s left to drive future growth?</p><p>As it turns out though, there&#39;s still plenty of opportunities for Alphabet to continue its expansion. The company&#39;s Android is also the world&#39;s most popular mobile operating system, with GlobalStats data indicating it&#39;s installed on 70% of the world&#39;s actively used mobile devices. This market isn&#39;t saturated yet, meaning there&#39;s plenty more growth potential in the cards for the advertisement and app-selling platform. In the meantime, Alphabet continues to refine its YouTube property, which boasts 2 billion users per month consuming over 1 billion hours&#39; worth of video content every single day. Alphabet is also showing strong growth in the ever-expanding area of cloud services with its Google Cloud offering.</p><h2>2. Walmart</h2><p>It&#39;s not known or viewed by investors as a high-octane investment, but <b>Walmart</b> (NYSE:WMT) stock has been surprisingly rewarding in recent years despite the fact that <b>Amazon</b> (NASDAQ:AMZN) has encroached on its turf. Shares of the world&#39;s biggest brick-and-mortar retailer are up more than 90% for the past five years, and higher by 125% for the past 10. That reflects annualized revenue growth from $440 billion then to more than $570 billion now.</p><p>Profits haven&#39;t grown nearly as much, but for good reason -- the company continues to invest in it is future, and in e-commerce in particular. Walmart&#39;s also earmarked $14 billion specifically for automation and supply chain improvements, which are ultimately meant to support its growing online marketplace.</p><p>There&#39;s more going on here, however, than the establishment of an e-commerce presence that can at least compete with Amazon.com. Its online shopping efforts are just part of a bigger-picture effort to become more of a lifestyle company akin to Amazon. Primary healthcare, premium private label wine, subscription-based delivery of online orders, and tech-installation services are all part of the bigger plan to make Walmart the go-to name consumers lean on.</p><p>In that, the plan is working (albeit it at a snail&#39;s pace), don&#39;t be surprised to see shares double again over the course of the next 10 years.</p><h2>3. Amazon</h2><p>While nearly everything Walmart does these days is first and foremost meant to combat Amazon.com, that hasn&#39;t prevented the e-commerce giant from growing like crazy. Amazon&#39;s revenue has improved from 2011&#39;s $48 billion to last year&#39;s $470 billion. The stock&#39;s up more than 1,700% for that timeframe, however, buoyed by earnings growth that has dramatically outpaced sales growth thanks to the launch of the company&#39;s cloud computing arm, Amazon Web Services. As it turns out, cloud computing is a considerably more profitable venture than selling merchandise online is.</p><p>It&#39;s unlikely Amazon stock will be able to repeat the feat by 2032. A great deal of the rally stems from the fact that not many people saw the growth coming, and therefore underestimated the stock back in 2012. Investors won&#39;t make the same mistake again.</p><p>Still, even producing half of the gain it produced over the course of the past 10 years during the next 10 years would be a huge win for shareholders.</p><p>And there&#39;s little reason to dismiss the possibility. Amazon is constantly evolving in ways that set the stage for more growth. For instance, the company confirmed it generated $31 billion worth of advertising revenue last year, and that&#39;s despite the service being relatively young, unrefined, and not fully understood by advertisers. Other more nuanced growth drivers include payment services, point-of-sale solutions, and even a grocery store business that cements its relationships with consumers in place. There&#39;s certainly no reason <i>not</i> to expect more big things from the company, and its stock.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks That Turned $5,000 Into $10,000 (or More) in Just a Few Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks That Turned $5,000 Into $10,000 (or More) in Just a Few Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-20 16:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/02/18/3-stocks-that-turned-5000-into-10000-or-more/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Contrary to a commonly held belief, the buy-and-hold approach to investing isn't dead. It's not even on the defensive, nor does it only work if you find the market's up-and-comers at the right time. ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/02/18/3-stocks-that-turned-5000-into-10000-or-more/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","GOOG":"谷歌","WMT":"沃尔玛"},"source_url":"https://www.fool.com/investing/2022/02/18/3-stocks-that-turned-5000-into-10000-or-more/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212245076","content_text":"Contrary to a commonly held belief, the buy-and-hold approach to investing isn't dead. It's not even on the defensive, nor does it only work if you find the market's up-and-comers at the right time. You can still reap huge profits using blue-chip stocks well after they've become blue chips.Here's a closer look at three familiar names that dished out triple-digit percentage gains on their stocks just within the past few years, and could do the same again over the course of the next few years.1. AlphabetAlphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) is of course the company behind search engine behemoth Google, which according to GlobalStats' statcounter handles more than 90% of the world's web searches -- a market share the company has enjoyed for a long, long time. The Google brand also accounts for around two-thirds of Alphabet's top line, and (for the time being, anyway) all of the company's actual profits.And what profit growth we've seen. Last year's net income of $76 billion is leaps and bounds better than the $9.7 billion bottom line the company produced 10 years ago, back in 2011. The stock's price has rallied nearly 800% during that timeframe, from $305 per share then to $2,720 now.That's a tough act to follow, leading some investors to think Alphabet's highest-growth days are behind it. And, perhaps they are. The world certainly seems to already be using the world wide web as much as it feasibly can. What's left to drive future growth?As it turns out though, there's still plenty of opportunities for Alphabet to continue its expansion. The company's Android is also the world's most popular mobile operating system, with GlobalStats data indicating it's installed on 70% of the world's actively used mobile devices. This market isn't saturated yet, meaning there's plenty more growth potential in the cards for the advertisement and app-selling platform. In the meantime, Alphabet continues to refine its YouTube property, which boasts 2 billion users per month consuming over 1 billion hours' worth of video content every single day. Alphabet is also showing strong growth in the ever-expanding area of cloud services with its Google Cloud offering.2. WalmartIt's not known or viewed by investors as a high-octane investment, but Walmart (NYSE:WMT) stock has been surprisingly rewarding in recent years despite the fact that Amazon (NASDAQ:AMZN) has encroached on its turf. Shares of the world's biggest brick-and-mortar retailer are up more than 90% for the past five years, and higher by 125% for the past 10. That reflects annualized revenue growth from $440 billion then to more than $570 billion now.Profits haven't grown nearly as much, but for good reason -- the company continues to invest in it is future, and in e-commerce in particular. Walmart's also earmarked $14 billion specifically for automation and supply chain improvements, which are ultimately meant to support its growing online marketplace.There's more going on here, however, than the establishment of an e-commerce presence that can at least compete with Amazon.com. Its online shopping efforts are just part of a bigger-picture effort to become more of a lifestyle company akin to Amazon. Primary healthcare, premium private label wine, subscription-based delivery of online orders, and tech-installation services are all part of the bigger plan to make Walmart the go-to name consumers lean on.In that, the plan is working (albeit it at a snail's pace), don't be surprised to see shares double again over the course of the next 10 years.3. AmazonWhile nearly everything Walmart does these days is first and foremost meant to combat Amazon.com, that hasn't prevented the e-commerce giant from growing like crazy. Amazon's revenue has improved from 2011's $48 billion to last year's $470 billion. The stock's up more than 1,700% for that timeframe, however, buoyed by earnings growth that has dramatically outpaced sales growth thanks to the launch of the company's cloud computing arm, Amazon Web Services. As it turns out, cloud computing is a considerably more profitable venture than selling merchandise online is.It's unlikely Amazon stock will be able to repeat the feat by 2032. A great deal of the rally stems from the fact that not many people saw the growth coming, and therefore underestimated the stock back in 2012. Investors won't make the same mistake again.Still, even producing half of the gain it produced over the course of the past 10 years during the next 10 years would be a huge win for shareholders.And there's little reason to dismiss the possibility. Amazon is constantly evolving in ways that set the stage for more growth. For instance, the company confirmed it generated $31 billion worth of advertising revenue last year, and that's despite the service being relatively young, unrefined, and not fully understood by advertisers. Other more nuanced growth drivers include payment services, point-of-sale solutions, and even a grocery store business that cements its relationships with consumers in place. There's certainly no reason not to expect more big things from the company, and its stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097345941,"gmtCreate":1645355889417,"gmtModify":1676534021140,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097345941","repostId":"2212622457","repostType":4,"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9039981714,"gmtCreate":1645883451690,"gmtModify":1676534072374,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039981714","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1645926503,"share":"https://ttm.financial/m/news/1125580913?lang=&edition=fundamental","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1},"isVote":1,"tweetType":1,"viewCount":691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036298157,"gmtCreate":1647097548089,"gmtModify":1676534194783,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"🥔","listText":"🥔","text":"🥔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036298157","repostId":"2218944245","repostType":4,"repost":{"id":"2218944245","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647033773,"share":"https://ttm.financial/m/news/2218944245?lang=&edition=fundamental","pubTime":"2022-03-12 05:22","market":"us","language":"en","title":"Wall Street Slumps in Broad Swoon to End Bumpy Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2218944245","media":"Reuters","summary":"March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a bro","content":"<html><head></head><body><p>March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve&#39;s policy meeting next week.</p><p>At the end of a volatile week, indexes had opened higher after Russian President Vladimir Putin said there were &#34;certain positive shifts&#34; in talks with Ukraine, without providing any details, but stocks then faded during the session.</p><p>All 11 S&amp;P 500 sectors ended down, with communication services    falling 1.9% and technology    dropping 1.8%.</p><p>“After we saw a bounce in the middle of the week, there is still too much uncertainty out there,” said Matt Maley, chief market strategist at Miller Tabak. &#34;The market has had a tough couple of Mondays so I think the short-term players want to take some chips off the table.&#34;</p><p>The Dow Jones Industrial Average    fell 229.88 points, or 0.69%, to 32,944.19, the S&amp;P 500    lost 55.21 points, or 1.30%, to 4,204.31 and the Nasdaq Composite    dropped 286.15 points, or 2.18%, to 12,843.81.</p><p>The benchmark S&amp;P 500 fell 2.9% for the week, and logged its second straight weekly decline. The Dow fell for a fifth straight week.</p><p>On Friday, declines in shares of megacap growth companies such as Apple Inc    and Tesla Inc    dragged on the S&amp;P 500. Apple fell 2.4% while Tesla dropped 5.1%.</p><p><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>    shares fell 3.9% as Russia opened a criminal case against the Facebook parent after the social network changed its hate speech rules to allow users to call for &#34;death to the Russian invaders&#34; in the context of the war with Ukraine.</p><p>President Volodymyr Zelenskiy said Ukraine had reached a &#34;strategic turning point&#34; in the conflict with Russia, but Russian forces bombarded cities across the country and appeared to be regrouping for a possible assault on the capital Kyiv.</p><p>Regarding developments in the Ukraine crisis, “you just don’t know what you are going to see so there’s no reason to go into the weekend with a risk-on attitude,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.</p><p>Growth stocks also came under pressure as the U.S. 10-year Treasury yield    hovered near 2%.</p><p>Stocks have struggled this year as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Fed is expected to tighten monetary policy this year to fight inflation. The S&amp;P 500 is down 11.8% in 2022.</p><p>The U.S. central bank is expected to raise rates at its March 15-16 meeting.</p><p>A survey showed U.S. consumer sentiment fell more than expected in early March as gasoline prices surged to a record high in the aftermath of Russia&#39;s war against Ukraine.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.83-to-1 ratio; on Nasdaq, a 2.54-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 13 new 52-week highs and 16 new lows; the Nasdaq Composite recorded 36 new highs and 274 new lows.</p><p>About 13 billion shares changed hands in U.S. exchanges, compared with the 13.6 billion daily average over the last 20 sessions.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Slumps in Broad Swoon to End Bumpy Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street Slumps in Broad Swoon to End Bumpy Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-12 05:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve&#39;s policy meeting next week.</p><p>At the end of a volatile week, indexes had opened higher after Russian President Vladimir Putin said there were &#34;certain positive shifts&#34; in talks with Ukraine, without providing any details, but stocks then faded during the session.</p><p>All 11 S&amp;P 500 sectors ended down, with communication services    falling 1.9% and technology    dropping 1.8%.</p><p>“After we saw a bounce in the middle of the week, there is still too much uncertainty out there,” said Matt Maley, chief market strategist at Miller Tabak. &#34;The market has had a tough couple of Mondays so I think the short-term players want to take some chips off the table.&#34;</p><p>The Dow Jones Industrial Average    fell 229.88 points, or 0.69%, to 32,944.19, the S&amp;P 500    lost 55.21 points, or 1.30%, to 4,204.31 and the Nasdaq Composite    dropped 286.15 points, or 2.18%, to 12,843.81.</p><p>The benchmark S&amp;P 500 fell 2.9% for the week, and logged its second straight weekly decline. The Dow fell for a fifth straight week.</p><p>On Friday, declines in shares of megacap growth companies such as Apple Inc    and Tesla Inc    dragged on the S&amp;P 500. Apple fell 2.4% while Tesla dropped 5.1%.</p><p><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>    shares fell 3.9% as Russia opened a criminal case against the Facebook parent after the social network changed its hate speech rules to allow users to call for &#34;death to the Russian invaders&#34; in the context of the war with Ukraine.</p><p>President Volodymyr Zelenskiy said Ukraine had reached a &#34;strategic turning point&#34; in the conflict with Russia, but Russian forces bombarded cities across the country and appeared to be regrouping for a possible assault on the capital Kyiv.</p><p>Regarding developments in the Ukraine crisis, “you just don’t know what you are going to see so there’s no reason to go into the weekend with a risk-on attitude,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.</p><p>Growth stocks also came under pressure as the U.S. 10-year Treasury yield    hovered near 2%.</p><p>Stocks have struggled this year as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Fed is expected to tighten monetary policy this year to fight inflation. The S&amp;P 500 is down 11.8% in 2022.</p><p>The U.S. central bank is expected to raise rates at its March 15-16 meeting.</p><p>A survey showed U.S. consumer sentiment fell more than expected in early March as gasoline prices surged to a record high in the aftermath of Russia&#39;s war against Ukraine.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 2.83-to-1 ratio; on Nasdaq, a 2.54-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 13 new 52-week highs and 16 new lows; the Nasdaq Composite recorded 36 new highs and 274 new lows.</p><p>About 13 billion shares changed hands in U.S. exchanges, compared with the 13.6 billion daily average over the last 20 sessions.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","IVV":"标普500指数ETF","SSO":"两倍做多标普500ETF","BK4534":"瑞士信贷持仓","OEF":"标普100指数ETF-iShares","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","BK4550":"红杉资本持仓","BK4559":"巴菲特持仓","QLD":"纳指两倍做多ETF","BK4581":"高盛持仓","SDS":"两倍做空标普500ETF","DXD":"道指两倍做空ETF","SPY":"标普500ETF","PSQ":"纳指反向ETF",".DJI":"道琼斯","SDOW":"道指三倍做空ETF-ProShares","DDM":"道指两倍做多ETF",".IXIC":"NASDAQ Composite","BK4504":"桥水持仓",".SPX":"S&P 500 Index","OEX":"标普100","TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF","DOG":"道指反向ETF","DJX":"1/100道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2218944245","content_text":"March 11 (Reuters) - Major U.S. stock indexes stumbled on Friday as tech and growth shares led a broad decline and investors worried about the conflict in Ukraine while attention turned to the Federal Reserve's policy meeting next week.At the end of a volatile week, indexes had opened higher after Russian President Vladimir Putin said there were \"certain positive shifts\" in talks with Ukraine, without providing any details, but stocks then faded during the session.All 11 S&P 500 sectors ended down, with communication services    falling 1.9% and technology    dropping 1.8%.“After we saw a bounce in the middle of the week, there is still too much uncertainty out there,” said Matt Maley, chief market strategist at Miller Tabak. \"The market has had a tough couple of Mondays so I think the short-term players want to take some chips off the table.\"The Dow Jones Industrial Average    fell 229.88 points, or 0.69%, to 32,944.19, the S&P 500    lost 55.21 points, or 1.30%, to 4,204.31 and the Nasdaq Composite    dropped 286.15 points, or 2.18%, to 12,843.81.The benchmark S&P 500 fell 2.9% for the week, and logged its second straight weekly decline. The Dow fell for a fifth straight week.On Friday, declines in shares of megacap growth companies such as Apple Inc    and Tesla Inc    dragged on the S&P 500. Apple fell 2.4% while Tesla dropped 5.1%.Meta Platforms    shares fell 3.9% as Russia opened a criminal case against the Facebook parent after the social network changed its hate speech rules to allow users to call for \"death to the Russian invaders\" in the context of the war with Ukraine.President Volodymyr Zelenskiy said Ukraine had reached a \"strategic turning point\" in the conflict with Russia, but Russian forces bombarded cities across the country and appeared to be regrouping for a possible assault on the capital Kyiv.Regarding developments in the Ukraine crisis, “you just don’t know what you are going to see so there’s no reason to go into the weekend with a risk-on attitude,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.Growth stocks also came under pressure as the U.S. 10-year Treasury yield    hovered near 2%.Stocks have struggled this year as concerns about the Russia-Ukraine crisis have deepened a sell-off initially fueled by worries over higher bond yields as the Fed is expected to tighten monetary policy this year to fight inflation. The S&P 500 is down 11.8% in 2022.The U.S. central bank is expected to raise rates at its March 15-16 meeting.A survey showed U.S. consumer sentiment fell more than expected in early March as gasoline prices surged to a record high in the aftermath of Russia's war against Ukraine.Declining issues outnumbered advancing ones on the NYSE by a 2.83-to-1 ratio; on Nasdaq, a 2.54-to-1 ratio favored decliners.The S&P 500 posted 13 new 52-week highs and 16 new lows; the Nasdaq Composite recorded 36 new highs and 274 new lows.About 13 billion shares changed hands in U.S. exchanges, compared with the 13.6 billion daily average over the last 20 sessions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9013906386,"gmtCreate":1648674783876,"gmtModify":1676534373867,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9013906386","repostId":"2223950802","repostType":4,"repost":{"id":"2223950802","pubTimestamp":1648649952,"share":"https://ttm.financial/m/news/2223950802?lang=&edition=fundamental","pubTime":"2022-03-30 22:19","market":"us","language":"en","title":"Why Cathie Wood Just Dumped Tesla for This Hot EV Stock","url":"https://stock-news.laohu8.com/highlight/detail?id=2223950802","media":"Motley Fool","summary":"Cathie Wood makes a big move and buy Nio stock for the first time.","content":"<html><head></head><body><p>Famed investor Cathie Wood is a bull on electric vehicles (EVs), as the industry fits her policy of investing in disruption and innovation growth stories, including autonomous technology. In a recent interview  with <i>Barron&#39;s</i>, Wood even predicted EV sales to grow from 4.8 million units in 2021 to 40 million units in 2026.</p><p>Wood owns several EV stocks, but the one that&#39;s stood out so far is industry leader <b>Tesla</b>. Tesla is, in fact, Wood&#39;s largest holding -- the stock constituted 7.54% across all of Ark Invest&#39;s family of exchange-traded funds (Pacer Swan SOS Fund of Funds ETFs) as of March 28.</p><p>Yet, that&#39;s after Wood sold nearly 146,000 shares in Tesla on March 25. The last time Wood sold Tesla shares was in January.</p><p>What&#39;s even more surprising, though, is the EV stock Wood bought same day: <b>Nio</b>. The <b>Ark Autonomous Technology &amp; Robotics ETF</b> (ARKQ) reported a purchase transaction of 420,057 shares of Nio on March 25.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb11f4ff477a5aa657c946261c8b83da\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/><span>Image source: Getty Images.</span></p><p>To be sure, trimming her Tesla position doesn&#39;t necessarily mean Wood&#39;s conviction on the stock has lessened. Yet the fact that she bought Nio stock for the first time ever deserves a lot more attention from investors as it confirms Wood&#39;s conviction in the Chinese EV stock.</p><h2>Why Nio caught Cathie Wood&#39;s attention</h2><p>Wood&#39;s interest in Tesla shouldn&#39;t come as a surprise. The company&#39;s foothold in the EV industry is hard to match and even catch up with, as Tesla already has nearly a million cars out on the roads and its sales have grown exponentially in recent years.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2f525e4ebb4e2c40e0150bcf01ec7b9\" tg-width=\"700\" tg-height=\"700\" referrerpolicy=\"no-referrer\"/><span>Image source: Statista.</span></p><p>Yet competition is heating up, and Wood seemingly doesn&#39;t want miss any opportunity EV companies other than Tesla can bring to the table. Nio is, in fact, often called the &#34;Tesla of China&#34; and has even said it aims to sell better products than Tesla but at lower costs.</p><p>The fact that Wood bought Nio stock just one day after the company&#39;s fourth-quarter and full-year 2021 earnings release suggests something in the report caught Wood&#39;s attention. I believe it&#39;s the EV maker&#39;s growth plans.</p><h2>Nio&#39;s big plans</h2><p>Nio expects to deliver 25,000-26,000 vehicles in the first quarter. That&#39;s roughly flat sequentially at the lower end of the guidance range and reflects the severe supply constraints facing the company.</p><p>Yet Nio isn&#39;t worried as much yet and has ruled out any plans to raise vehicle prices to pass on higher costs to consumers for now. Tesla, in contrast, recently raised prices of its EVs twice within a matter of days.</p><p>More importantly, despite the challenges, Nio is sticking with its plans to launch three EVs this year. The company is on track so far, having started deliveries of its flagship sedan, the ET7, on March 28. Nio plans to launch its first SUV, the ES7, in the coming weeks and its midsize sedan, the ET5, later in the year.</p><p>Nio&#39;s revenue should grow as it expands its product portfolio. In 2021, Nio generated $5.6 billion in revenue backed by deliveries of 91,429 vehicles. And Nio has already set foot outside of China and is targeting one of the world&#39;s largest EV markets next: Europe. Nio will enter at least four countries in Europe this year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e327e3b1a66f10690e5ef105a1177dc3\" tg-width=\"700\" tg-height=\"520\" referrerpolicy=\"no-referrer\"/><span>Image source: Statista.</span></p><p>In the long term, Nio plans to create a mass-market brand to build affordable EVs ranging between $30,000 to $50,000 per car.</p><h2>Path to profitability</h2><p>As a company that has its eyes set set on two of the world&#39;s largest EV markets, the growth potential for Nio is huge if can deliver on its plans. Nio also has a solid competitive advantage over its peers that could give it a lead especially during these inflationary times: its battery-as-a-service (BaaS) program.</p><p>BaaS offers potential customers the option to save thousands of dollars by buying cars without batteries and instead paying a monthly subscription fee to swap and charge batteries on demand at Nio&#39;s swap stations. As of March 20, Nio had 864 battery swap stations and 760 supercharging stations in China, according to new energy vehicle (NEV)-focused website CnEvPost.</p><p>Nio&#39;s agility was also on full display when it quickly listed its stock in Hong Kong in early March as the threat of having Chinese stocks delisted from the U.S. deepened.</p><p>Most importantly, Nio just said it could break even as early as the fourth quarter of 2023 and deliver its first full year of profit in 2024.</p><p>In an industry where scaling up production profitably is an uphill task, Nio sounds confident about its capabilities. That&#39;s what seems to have caught Cathie Wood&#39;s attention, and she evidently bought the dip in this hot EV stock.</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>Why Cathie Wood Just Dumped Tesla for This Hot EV Stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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\">\nWhy Cathie Wood Just Dumped Tesla for This Hot EV Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-30 22:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/03/30/why-cathie-wood-dumped-tesla-for-this-hot-ev-stock/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Famed investor Cathie Wood is a bull on electric vehicles (EVs), as the industry fits her policy of investing in disruption and innovation growth stories, including autonomous technology. In a recent ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/03/30/why-cathie-wood-dumped-tesla-for-this-hot-ev-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","BK4527":"明星科技股","BK4534":"瑞士信贷持仓","BK4581":"高盛持仓","BK4555":"新能源车","BK4550":"红杉资本持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4099":"汽车制造商","BK4511":"特斯拉概念","TSLA":"特斯拉","BK4548":"巴美列捷福持仓","BK4574":"无人驾驶","BK4551":"寇图资本持仓"},"source_url":"https://www.fool.com/investing/2022/03/30/why-cathie-wood-dumped-tesla-for-this-hot-ev-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2223950802","content_text":"Famed investor Cathie Wood is a bull on electric vehicles (EVs), as the industry fits her policy of investing in disruption and innovation growth stories, including autonomous technology. In a recent interview  with Barron's, Wood even predicted EV sales to grow from 4.8 million units in 2021 to 40 million units in 2026.Wood owns several EV stocks, but the one that's stood out so far is industry leader Tesla. Tesla is, in fact, Wood's largest holding -- the stock constituted 7.54% across all of Ark Invest's family of exchange-traded funds (Pacer Swan SOS Fund of Funds ETFs) as of March 28.Yet, that's after Wood sold nearly 146,000 shares in Tesla on March 25. The last time Wood sold Tesla shares was in January.What's even more surprising, though, is the EV stock Wood bought same day: Nio. The Ark Autonomous Technology & Robotics ETF (ARKQ) reported a purchase transaction of 420,057 shares of Nio on March 25.Image source: Getty Images.To be sure, trimming her Tesla position doesn't necessarily mean Wood's conviction on the stock has lessened. Yet the fact that she bought Nio stock for the first time ever deserves a lot more attention from investors as it confirms Wood's conviction in the Chinese EV stock.Why Nio caught Cathie Wood's attentionWood's interest in Tesla shouldn't come as a surprise. The company's foothold in the EV industry is hard to match and even catch up with, as Tesla already has nearly a million cars out on the roads and its sales have grown exponentially in recent years.Image source: Statista.Yet competition is heating up, and Wood seemingly doesn't want miss any opportunity EV companies other than Tesla can bring to the table. Nio is, in fact, often called the \"Tesla of China\" and has even said it aims to sell better products than Tesla but at lower costs.The fact that Wood bought Nio stock just one day after the company's fourth-quarter and full-year 2021 earnings release suggests something in the report caught Wood's attention. I believe it's the EV maker's growth plans.Nio's big plansNio expects to deliver 25,000-26,000 vehicles in the first quarter. That's roughly flat sequentially at the lower end of the guidance range and reflects the severe supply constraints facing the company.Yet Nio isn't worried as much yet and has ruled out any plans to raise vehicle prices to pass on higher costs to consumers for now. Tesla, in contrast, recently raised prices of its EVs twice within a matter of days.More importantly, despite the challenges, Nio is sticking with its plans to launch three EVs this year. The company is on track so far, having started deliveries of its flagship sedan, the ET7, on March 28. Nio plans to launch its first SUV, the ES7, in the coming weeks and its midsize sedan, the ET5, later in the year.Nio's revenue should grow as it expands its product portfolio. In 2021, Nio generated $5.6 billion in revenue backed by deliveries of 91,429 vehicles. And Nio has already set foot outside of China and is targeting one of the world's largest EV markets next: Europe. Nio will enter at least four countries in Europe this year.Image source: Statista.In the long term, Nio plans to create a mass-market brand to build affordable EVs ranging between $30,000 to $50,000 per car.Path to profitabilityAs a company that has its eyes set set on two of the world's largest EV markets, the growth potential for Nio is huge if can deliver on its plans. Nio also has a solid competitive advantage over its peers that could give it a lead especially during these inflationary times: its battery-as-a-service (BaaS) program.BaaS offers potential customers the option to save thousands of dollars by buying cars without batteries and instead paying a monthly subscription fee to swap and charge batteries on demand at Nio's swap stations. As of March 20, Nio had 864 battery swap stations and 760 supercharging stations in China, according to new energy vehicle (NEV)-focused website CnEvPost.Nio's agility was also on full display when it quickly listed its stock in Hong Kong in early March as the threat of having Chinese stocks delisted from the U.S. deepened.Most importantly, Nio just said it could break even as early as the fourth quarter of 2023 and deliver its first full year of profit in 2024.In an industry where scaling up production profitably is an uphill task, Nio sounds confident about its capabilities. That's what seems to have caught Cathie Wood's attention, and she evidently bought the dip in this hot EV stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":470,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036992244,"gmtCreate":1646959007407,"gmtModify":1676534181529,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"🥔","listText":"🥔","text":"🥔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036992244","repostId":"2218293229","repostType":4,"repost":{"id":"2218293229","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1646953979,"share":"https://ttm.financial/m/news/2218293229?lang=&edition=fundamental","pubTime":"2022-03-11 07:12","market":"us","language":"en","title":"GLOBAL MARKETS-Global Shares Fall on Inflation, Central Bank Moves","url":"https://stock-news.laohu8.com/highlight/detail?id=2218293229","media":"Reuters","summary":"\"MSCI's gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST .The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.The pan-European STOXX 600 index lost 1.69%.The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. ","content":"<html><head></head><body><p>Global share markets slid on Thursday as U.S. inflation hit almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week, and the European Central Bank sped up the end of its massive stimulus program.</p><p>Data showed U.S. consumer inflation running at a 7.9% annualized clip in February, the largest annual increase in 40 years.</p><p>Wall Street fell on the data because, while markets expect the central bank to raise the Fed funds target rate by 25 basis points at the conclusion of next week&#39;s monetary policy meeting, the CPI data suggested the FOMC could move &#34;more aggressively&#34; to curb inflation, as promised by Fed Chair Jerome Powell last week.</p><p>The ECB earlier in the session said it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia&#39;s invasion of Ukraine.</p><p>Talks between Ukraine and Russia on Thursday failed to bring any respite in the conflict, which has trapped hundreds of thousands of civilians in Ukrainian cities sheltering amid Russian air raids and shelling.</p><p>The euro retreated from overnight gains following the ECB announcement, and the dollar strengthened on the U.S. inflation report. The benchmark U.S. 10-year Treasury yield rose above 2% for the first time in two weeks.</p><p>Melissa Brown, managing director of applied research at Qontigo, said that some inflation can be beneficial to stock prices, but central banks have their work cut out for them managing inflation that is at multi-decade highs.</p><p>&#34;We&#39;ve reached that tipping point between good inflation and bad inflation. It is driving volatility higher, and the higher volatility typically drives away investors,&#34; Brown said.</p><p>&#34;Sentiment is very uncertain. Now that we are where we are, can (central bankers) tread that fine line between managing inflation and not pushing us into recession?&#34;</p><p>MSCI&#39;s gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST (2212 GMT).</p><p>The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&amp;P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.</p><p>The pan-European STOXX 600 index lost 1.69%.</p><p>The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.</p><p>The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. 17.</p><p>Veneta Dimitrova, senior U.S. economist at Ned Davis Research, said that with the sharp rises in energy and other commodity markets due to the war in Ukraine, it will most likely take longer to reach peak inflation.</p><p>&#34;This means higher inflation for longer and a treacherous policy path for the Fed ahead,&#34; Dimitrova, adding she expects the Fed to proceed with a 25-basis point interest rate increase next week.</p><p>&#34;With all the geopolitical uncertainty and market volatility out there, the Fed doesn’t want to add to the uncertainty.&#34;</p><p>Oil fell in volatile trading after the United Arab Emirates backtracked on statements saying OPEC and its allies might increase output to help to plug the gap in exports from Russia.</p><p>U.S. crude oil futures settled at $106.02 a barrel, down 2.47%, while the international benchmark Brent settled at $109.33, down 1.63%.</p><p>European Union leaders will phase out buying Russian oil, gas and coal, a draft declaration showed on Thursday, as the bloc seeks to reduce its reliance on Russian sources of energy, following a ban from the United States.</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>GLOBAL MARKETS-Global Shares Fall on Inflation, Central Bank Moves</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\">\nGLOBAL MARKETS-Global Shares Fall on Inflation, Central Bank Moves\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-11 07:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Global share markets slid on Thursday as U.S. inflation hit almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week, and the European Central Bank sped up the end of its massive stimulus program.</p><p>Data showed U.S. consumer inflation running at a 7.9% annualized clip in February, the largest annual increase in 40 years.</p><p>Wall Street fell on the data because, while markets expect the central bank to raise the Fed funds target rate by 25 basis points at the conclusion of next week&#39;s monetary policy meeting, the CPI data suggested the FOMC could move &#34;more aggressively&#34; to curb inflation, as promised by Fed Chair Jerome Powell last week.</p><p>The ECB earlier in the session said it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia&#39;s invasion of Ukraine.</p><p>Talks between Ukraine and Russia on Thursday failed to bring any respite in the conflict, which has trapped hundreds of thousands of civilians in Ukrainian cities sheltering amid Russian air raids and shelling.</p><p>The euro retreated from overnight gains following the ECB announcement, and the dollar strengthened on the U.S. inflation report. The benchmark U.S. 10-year Treasury yield rose above 2% for the first time in two weeks.</p><p>Melissa Brown, managing director of applied research at Qontigo, said that some inflation can be beneficial to stock prices, but central banks have their work cut out for them managing inflation that is at multi-decade highs.</p><p>&#34;We&#39;ve reached that tipping point between good inflation and bad inflation. It is driving volatility higher, and the higher volatility typically drives away investors,&#34; Brown said.</p><p>&#34;Sentiment is very uncertain. Now that we are where we are, can (central bankers) tread that fine line between managing inflation and not pushing us into recession?&#34;</p><p>MSCI&#39;s gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST (2212 GMT).</p><p>The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&amp;P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.</p><p>The pan-European STOXX 600 index lost 1.69%.</p><p>The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.</p><p>The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. 17.</p><p>Veneta Dimitrova, senior U.S. economist at Ned Davis Research, said that with the sharp rises in energy and other commodity markets due to the war in Ukraine, it will most likely take longer to reach peak inflation.</p><p>&#34;This means higher inflation for longer and a treacherous policy path for the Fed ahead,&#34; Dimitrova, adding she expects the Fed to proceed with a 25-basis point interest rate increase next week.</p><p>&#34;With all the geopolitical uncertainty and market volatility out there, the Fed doesn’t want to add to the uncertainty.&#34;</p><p>Oil fell in volatile trading after the United Arab Emirates backtracked on statements saying OPEC and its allies might increase output to help to plug the gap in exports from Russia.</p><p>U.S. crude oil futures settled at $106.02 a barrel, down 2.47%, while the international benchmark Brent settled at $109.33, down 1.63%.</p><p>European Union leaders will phase out buying Russian oil, gas and coal, a draft declaration showed on Thursday, as the bloc seeks to reduce its reliance on Russian sources of energy, following a ban from the United States.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"159934":"黄金ETF","518880":"黄金ETF",".DJI":"道琼斯","DJX":"1/100道琼斯","USO":"美国原油ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion","DDG":"ProShares做空石油与天然气ETF","SQQQ":"纳指三倍做空ETF","QLD":"纳指两倍做多ETF","DXD":"道指两倍做空ETF","UCO":"二倍做多彭博原油ETF","PSQ":"纳指反向ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","DDM":"道指两倍做多ETF","SDOW":"道指三倍做空ETF-ProShares","EUO":"欧元ETF-ProShares两倍做空","NUGT":"二倍做多黄金矿业指数ETF-Direxion","GLD":"SPDR黄金ETF","TQQQ":"纳指三倍做多ETF","SCO":"二倍做空彭博原油指数ETF","FXY":"日元ETF-CurrencyShares","QQQ":"纳指100ETF","DOG":"道指反向ETF","FXB":"英镑ETF-CurrencyShares","DWT":"三倍做空原油ETN",".SPX":"S&P 500 Index","YCS":"日元ETF-ProShares两倍做空","UDOW":"道指三倍做多ETF-ProShares",".IXIC":"NASDAQ Composite","GDX":"黄金矿业ETF-VanEck","IAU":"黄金信托ETF(iShares)","FXE":"欧元做多ETF-CurrencyShares","QID":"纳指两倍做空ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2218293229","content_text":"Global share markets slid on Thursday as U.S. inflation hit almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week, and the European Central Bank sped up the end of its massive stimulus program.Data showed U.S. consumer inflation running at a 7.9% annualized clip in February, the largest annual increase in 40 years.Wall Street fell on the data because, while markets expect the central bank to raise the Fed funds target rate by 25 basis points at the conclusion of next week's monetary policy meeting, the CPI data suggested the FOMC could move \"more aggressively\" to curb inflation, as promised by Fed Chair Jerome Powell last week.The ECB earlier in the session said it will stop pumping money into financial markets this summer, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia's invasion of Ukraine.Talks between Ukraine and Russia on Thursday failed to bring any respite in the conflict, which has trapped hundreds of thousands of civilians in Ukrainian cities sheltering amid Russian air raids and shelling.The euro retreated from overnight gains following the ECB announcement, and the dollar strengthened on the U.S. inflation report. The benchmark U.S. 10-year Treasury yield rose above 2% for the first time in two weeks.Melissa Brown, managing director of applied research at Qontigo, said that some inflation can be beneficial to stock prices, but central banks have their work cut out for them managing inflation that is at multi-decade highs.\"We've reached that tipping point between good inflation and bad inflation. It is driving volatility higher, and the higher volatility typically drives away investors,\" Brown said.\"Sentiment is very uncertain. Now that we are where we are, can (central bankers) tread that fine line between managing inflation and not pushing us into recession?\"MSCI's gauge of stocks across the globe shed 0.19% at 5:12 p.m. EST (2212 GMT).The Dow Jones Industrial Average fell 112.18 points, or 0.34%, to 33,174.07, the S&P 500 lost 18.36 points, or 0.43%, to 4,259.52 and the Nasdaq Composite dropped 125.58 points, or 0.95%, to 13,129.96.The pan-European STOXX 600 index lost 1.69%.The dollar index rose 0.554%, with the euro up 0.04% to $1.0987.The yield on 10-year Treasury notes was up 6.3 basis points to 2.011% after hitting 2.021%, its highest level since Feb. 17.Veneta Dimitrova, senior U.S. economist at Ned Davis Research, said that with the sharp rises in energy and other commodity markets due to the war in Ukraine, it will most likely take longer to reach peak inflation.\"This means higher inflation for longer and a treacherous policy path for the Fed ahead,\" Dimitrova, adding she expects the Fed to proceed with a 25-basis point interest rate increase next week.\"With all the geopolitical uncertainty and market volatility out there, the Fed doesn’t want to add to the uncertainty.\"Oil fell in volatile trading after the United Arab Emirates backtracked on statements saying OPEC and its allies might increase output to help to plug the gap in exports from Russia.U.S. crude oil futures settled at $106.02 a barrel, down 2.47%, while the international benchmark Brent settled at $109.33, down 1.63%.European Union leaders will phase out buying Russian oil, gas and coal, a draft declaration showed on Thursday, as the bloc seeks to reduce its reliance on Russian sources of energy, following a ban from the United States.","news_type":1},"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9031400239,"gmtCreate":1646627573975,"gmtModify":1676534145081,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9031400239","repostId":"1174290253","repostType":4,"repost":{"id":"1174290253","pubTimestamp":1646623236,"share":"https://ttm.financial/m/news/1174290253?lang=&edition=fundamental","pubTime":"2022-03-07 11:20","market":"us","language":"en","title":"Shareholders Urge Amazon to Boost Tax Transparency","url":"https://stock-news.laohu8.com/highlight/detail?id=1174290253","media":"Reuters","summary":"Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures an","content":"<html><head></head><body><p>Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures and adopt a new reporting standard, the Financial Times said on Sunday.</p><p>Asset managers Nordea, Royal London and several large European and U.S. pension funds are among those pushing for Amazon to issue a transparency report in line with Global Reporting Initiative (GRI) tax standard, the newspaper said.</p><p>They want to bring a shareholders&#39; resolution demanding the new standard at the company&#39;s annual meeting this year, it said, citing a letter to be sent this week to the U.S. regulator, the Securities and Exchange Commission.</p><p>&#34;Aggressive tax practices can expose a company and its investors to increased scrutiny from tax authorities, adjustment risks, and increase their vulnerability to changes in tax rules,&#34; the investors said.</p><p>These measures come at a time when nations are looking to protect their tax bases from deleterious practices, they added in the letter seen by the FT.</p><p>The 100 groups that signed the letter included several environmental, social and governance-focused and religious funds, although not all were investors, the paper said.</p><p>An Amazon spokesperson declined to comment on the resolution, but pointed to last month&#39;s no-action request when the company barred a similar shareholder proposal.</p><p>&#34;The proposal implicates exactly the type of ordinary business issues for which resolution should remain with the company’s management and board,&#34; Amazon said.</p><p>It would be impractical for shareholders to exercise direct oversight of such issues, it added.</p><p>Amazon&#39;s current extensive tax disclosures are in line with U.S. generally accepted accounting principles (&#34;GAAP&#34;), it said, adding that it has publicly reported tax payments in the United States, Britain, France, Italy and Spain.</p><p>A December shareholder proposal by the Greater Manchester Pension Fund and Oblate International Pastoral Investment Trust urged Amazon to adopt the new GRI tax standard, and make public breakdowns of financial, tax and worker information by country.</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>Shareholders Urge Amazon to Boost Tax Transparency</title>\n<style 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}\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\">\nShareholders Urge Amazon to Boost Tax Transparency\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-07 11:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-shareholders-urge-amazon-boost-030956845.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures and adopt a new reporting standard, the Financial Times said on Sunday.Asset managers Nordea, Royal ...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-shareholders-urge-amazon-boost-030956845.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://finance.yahoo.com/news/1-shareholders-urge-amazon-boost-030956845.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174290253","content_text":"Twenty-four Amazon investors are urging the tech giant to step up transparency in tax disclosures and adopt a new reporting standard, the Financial Times said on Sunday.Asset managers Nordea, Royal London and several large European and U.S. pension funds are among those pushing for Amazon to issue a transparency report in line with Global Reporting Initiative (GRI) tax standard, the newspaper said.They want to bring a shareholders' resolution demanding the new standard at the company's annual meeting this year, it said, citing a letter to be sent this week to the U.S. regulator, the Securities and Exchange Commission.\"Aggressive tax practices can expose a company and its investors to increased scrutiny from tax authorities, adjustment risks, and increase their vulnerability to changes in tax rules,\" the investors said.These measures come at a time when nations are looking to protect their tax bases from deleterious practices, they added in the letter seen by the FT.The 100 groups that signed the letter included several environmental, social and governance-focused and religious funds, although not all were investors, the paper said.An Amazon spokesperson declined to comment on the resolution, but pointed to last month's no-action request when the company barred a similar shareholder proposal.\"The proposal implicates exactly the type of ordinary business issues for which resolution should remain with the company’s management and board,\" Amazon said.It would be impractical for shareholders to exercise direct oversight of such issues, it added.Amazon's current extensive tax disclosures are in line with U.S. generally accepted accounting principles (\"GAAP\"), it said, adding that it has publicly reported tax payments in the United States, Britain, France, Italy and Spain.A December shareholder proposal by the Greater Manchester Pension Fund and Oblate International Pastoral Investment Trust urged Amazon to adopt the new GRI tax standard, and make public breakdowns of financial, tax and worker information by country.","news_type":1},"isVote":1,"tweetType":1,"viewCount":737,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033152694,"gmtCreate":1646227007492,"gmtModify":1676534105764,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033152694","repostId":"1142226429","repostType":4,"isVote":1,"tweetType":1,"viewCount":676,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033152371,"gmtCreate":1646226982943,"gmtModify":1676534105726,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033152371","repostId":"1177462887","repostType":4,"repost":{"id":"1177462887","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":1646227475,"share":"https://ttm.financial/m/news/1177462887?lang=&edition=fundamental","pubTime":"2022-03-02 21:24","market":"us","language":"en","title":"Pre-Bell | U.S. Stock Futures Notched Cautious Gains; Ford Will Split Evs and Legacy Autos","url":"https://stock-news.laohu8.com/highlight/detail?id=1177462887","media":"Tiger Newspress","summary":"U.S. stock index futures notched cautious gains on Wednesday, ahead of Federal Reserve Chair Jerome ","content":"<html><head></head><body><p>U.S. stock index futures notched cautious gains on Wednesday, ahead of Federal Reserve Chair Jerome Powell&#39;s testimony for clues on interest rates as the Ukraine crisis exacerbates concerns about inflation and growth.</p><p>The mood remained dour across global stock markets as Brent crude jumped to near eight-year highs and metal prices rallied after Western sanctions disrupted transport of commodities exported by Russia.</p><p>U.S. private job creation rose at a faster-than-expected clip in February, according to a count released Wednesday from payrolls processing firm ADP.</p><p>Companies added 475,000 positions for the month, better than the Dow Jones estimate for 400,000.</p><p>ADP also dramatically revised its January count, from an initially reported loss of 301,000 to a gain of 509,000. That brought the tally more closely in line with the Labor Department count for the month of a 467,000 gain.</p><p><b>Market Snapshot</b></p><p>At 08:23 a.m. ET, Dow e-minis were up 149 points, or 0.45%, S&amp;P 500 e-minis were up 15.25 points, or 0.35%, and Nasdaq 100 e-minis were up 37.5 points, or 0.27%.</p><p><img src=\"https://static.tigerbbs.com/9e38af85e2d97e040a2885759f5340c5\" tg-width=\"418\" tg-height=\"184\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b>Nordstrom</b> — The retail stock spiked 30.5% in premarket trading after the company posted better-than-expected fourth-quarter results.Nordstrom reported earnings of $1.23 per share versus the Refinitiv consensus estimate of $1.02 expected. Revenue also topped expectations. The retailer highlighted improvements in its off-price business, Nordstrom Rack.</p><p><b>Salesforce</b> — Salesforce shares rose 4% in the premarket after the software company&#39;s fourth-quarter report beat Wall Street expectations and issued upbeat guidance. The company posted adjusted earnings of 84 cents per share on revenue of $7.33 billion. Analysts expected a profit of 74 cents per share on revenue of $7.24 billion, according to Refinitiv.</p><p><b>Ford</b> — Ford shares added 4% in premarket trading after the automaker announced it will split its electric vehicle and legacy businesses into separate units. The company expects the move will streamline its growing electric vehicle business and maximize profits.</p><p><b>SoFi</b> — Shares of the digital financial services company surged 15.5% premarket after SoFi&#39;s quarterly report. SoFi posted a loss of 15 cents per share on revenue of $279.9 million versus the Refinitiv consensus estimate of a 17-cents loss per share on revenue of $279.3 million.</p><p><b>Ross Stores</b> — Ross Stores added 6.3% in premarket trading after an earnings beat. The retailer reported fourth-quarter earnings of $1.04 per share on revenue of $5.02 billion. Analysts expected a profit of 87 cents per share on revenue of $4.96 billion.</p><p><b>Hewlett Packard Enterprise</b> — Shares of Hewlett Packard added 5.5% premarket after the company reported a slight earnings beat for the most recent quarter, but a quarterly revenue miss. Earnings of 53 cents per share for the quarter beat analysts’ estimates by 7 cents. Revenue of $6.96 billion was below the consensus estimate of $7.03 billion.</p><p><b>Abercrombie &amp; Fitch</b> — Shares of Abercrombie &amp; Fitch fell 8.1% premarket after the retailer missed top and bottom-line estimates. The company posted adjusted earnings of $1.14 per share on revenue of $1.16 billion. Analysts expected a profit of $1.27 per share on revenue of $1.18 billion, according to StreetAccount.</p><p><b>First Solar</b> — Shares of First Solar sunk 12.4% premarket after the company missed revenue expectations for the fourth quarter. The solar-panel manufacturer also issued weak full-year guidance.</p><p><b>Dollar Tree</b> — Shares of Dollar Tree were 1% higher premarket after a better-than-expected fourth-quarter report. The company posted earnings of $2.01 per share versus the StreetAccount consensus estimate of $1.78 per share. Revenue slightly missed analyst estimates.</p><p><b>DraftKings</b> — DraftKings shares rose 2.3% before the bell after Morgan Stanley named the sports betting stock a top pick. “We expect the US online sports betting/iGaming market to be very large, with a few market share winners, including DKNG,” Morgan Stanley said.</p><p><b>Market News</b></p><p>Powell will testify at 10 a.m. ET (1500 GMT) before the U.S. House of Representatives Financial Services Committee and his comments on the economy in nearly five weeks will confront a situation that has become markedly more complex since January.</p><p>The U.S. government will ban Russian aircraft from American airspace, broadening aviation restrictions as the West expands sanctions over the war in Ukraine, President Joe Biden said Tuesday during his State of the Union address.</p><p>Apple, Exxon, Ford Motor and computer maker Dell joined the ranks of companies having to adjust or reassess their business activities because of Russia’s invasion of Ukraine.</p><p>Netflix today announced that it has entered into a combination agreement to acquire Next Games. Under the terms of the agreement, Netflix will commence a tender offer to acquire all of the issued and outstanding shares of Next Games. Pursuant to the offer, Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of approximately €65 million. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer.</p><p>Ford Motor Co said on Wednesday its electric vehicle (EV) and internal-combustion engine (ICE) units would be run as separate entities, in a move aimed at supercharging its EV business as it plays catch up with Tesla Inc.</p><p>U.S. electric vehicle startup Rivian Automotive Inc said on Tuesday it has increased selling prices of its vehicles by about 20per cent due to inflationary pressures and higher component costs, angering some customers.</p><p>The price increase also invited caustic comments from Elon Musk, chief executive of rival Tesla Inc, who tweeted that Rivian&#39;s &#34;negative gross margin will be staggering&#34; and it is &#34;near impossible&#34; for other firms to make affordable electric pickup trucks.</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>Pre-Bell | U.S. Stock Futures Notched Cautious Gains; Ford Will Split Evs and Legacy Autos</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\">\nPre-Bell | U.S. Stock Futures Notched Cautious Gains; Ford Will Split Evs and Legacy Autos\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\">2022-03-02 21:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock index futures notched cautious gains on Wednesday, ahead of Federal Reserve Chair Jerome Powell&#39;s testimony for clues on interest rates as the Ukraine crisis exacerbates concerns about inflation and growth.</p><p>The mood remained dour across global stock markets as Brent crude jumped to near eight-year highs and metal prices rallied after Western sanctions disrupted transport of commodities exported by Russia.</p><p>U.S. private job creation rose at a faster-than-expected clip in February, according to a count released Wednesday from payrolls processing firm ADP.</p><p>Companies added 475,000 positions for the month, better than the Dow Jones estimate for 400,000.</p><p>ADP also dramatically revised its January count, from an initially reported loss of 301,000 to a gain of 509,000. That brought the tally more closely in line with the Labor Department count for the month of a 467,000 gain.</p><p><b>Market Snapshot</b></p><p>At 08:23 a.m. ET, Dow e-minis were up 149 points, or 0.45%, S&amp;P 500 e-minis were up 15.25 points, or 0.35%, and Nasdaq 100 e-minis were up 37.5 points, or 0.27%.</p><p><img src=\"https://static.tigerbbs.com/9e38af85e2d97e040a2885759f5340c5\" tg-width=\"418\" tg-height=\"184\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b>Nordstrom</b> — The retail stock spiked 30.5% in premarket trading after the company posted better-than-expected fourth-quarter results.Nordstrom reported earnings of $1.23 per share versus the Refinitiv consensus estimate of $1.02 expected. Revenue also topped expectations. The retailer highlighted improvements in its off-price business, Nordstrom Rack.</p><p><b>Salesforce</b> — Salesforce shares rose 4% in the premarket after the software company&#39;s fourth-quarter report beat Wall Street expectations and issued upbeat guidance. The company posted adjusted earnings of 84 cents per share on revenue of $7.33 billion. Analysts expected a profit of 74 cents per share on revenue of $7.24 billion, according to Refinitiv.</p><p><b>Ford</b> — Ford shares added 4% in premarket trading after the automaker announced it will split its electric vehicle and legacy businesses into separate units. The company expects the move will streamline its growing electric vehicle business and maximize profits.</p><p><b>SoFi</b> — Shares of the digital financial services company surged 15.5% premarket after SoFi&#39;s quarterly report. SoFi posted a loss of 15 cents per share on revenue of $279.9 million versus the Refinitiv consensus estimate of a 17-cents loss per share on revenue of $279.3 million.</p><p><b>Ross Stores</b> — Ross Stores added 6.3% in premarket trading after an earnings beat. The retailer reported fourth-quarter earnings of $1.04 per share on revenue of $5.02 billion. Analysts expected a profit of 87 cents per share on revenue of $4.96 billion.</p><p><b>Hewlett Packard Enterprise</b> — Shares of Hewlett Packard added 5.5% premarket after the company reported a slight earnings beat for the most recent quarter, but a quarterly revenue miss. Earnings of 53 cents per share for the quarter beat analysts’ estimates by 7 cents. Revenue of $6.96 billion was below the consensus estimate of $7.03 billion.</p><p><b>Abercrombie &amp; Fitch</b> — Shares of Abercrombie &amp; Fitch fell 8.1% premarket after the retailer missed top and bottom-line estimates. The company posted adjusted earnings of $1.14 per share on revenue of $1.16 billion. Analysts expected a profit of $1.27 per share on revenue of $1.18 billion, according to StreetAccount.</p><p><b>First Solar</b> — Shares of First Solar sunk 12.4% premarket after the company missed revenue expectations for the fourth quarter. The solar-panel manufacturer also issued weak full-year guidance.</p><p><b>Dollar Tree</b> — Shares of Dollar Tree were 1% higher premarket after a better-than-expected fourth-quarter report. The company posted earnings of $2.01 per share versus the StreetAccount consensus estimate of $1.78 per share. Revenue slightly missed analyst estimates.</p><p><b>DraftKings</b> — DraftKings shares rose 2.3% before the bell after Morgan Stanley named the sports betting stock a top pick. “We expect the US online sports betting/iGaming market to be very large, with a few market share winners, including DKNG,” Morgan Stanley said.</p><p><b>Market News</b></p><p>Powell will testify at 10 a.m. ET (1500 GMT) before the U.S. House of Representatives Financial Services Committee and his comments on the economy in nearly five weeks will confront a situation that has become markedly more complex since January.</p><p>The U.S. government will ban Russian aircraft from American airspace, broadening aviation restrictions as the West expands sanctions over the war in Ukraine, President Joe Biden said Tuesday during his State of the Union address.</p><p>Apple, Exxon, Ford Motor and computer maker Dell joined the ranks of companies having to adjust or reassess their business activities because of Russia’s invasion of Ukraine.</p><p>Netflix today announced that it has entered into a combination agreement to acquire Next Games. Under the terms of the agreement, Netflix will commence a tender offer to acquire all of the issued and outstanding shares of Next Games. Pursuant to the offer, Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of approximately €65 million. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer.</p><p>Ford Motor Co said on Wednesday its electric vehicle (EV) and internal-combustion engine (ICE) units would be run as separate entities, in a move aimed at supercharging its EV business as it plays catch up with Tesla Inc.</p><p>U.S. electric vehicle startup Rivian Automotive Inc said on Tuesday it has increased selling prices of its vehicles by about 20per cent due to inflationary pressures and higher component costs, angering some customers.</p><p>The price increase also invited caustic comments from Elon Musk, chief executive of rival Tesla Inc, who tweeted that Rivian&#39;s &#34;negative gross margin will be staggering&#34; and it is &#34;near impossible&#34; for other firms to make affordable electric pickup trucks.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSLR":"第一太阳能","NFLX":"奈飞","F":"福特汽车","JWN":"诺德斯特龙","SOFI":"SoFi Technologies Inc.","ANF":"爱芬奇","PLUG":"普拉格能源",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","DLTR":"美元树公司","HPE":"慧与科技","CRM":"赛富时","DKNG":"DraftKings Inc.","ROST":"罗斯百货有限公司","AMC":"AMC院线"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177462887","content_text":"U.S. stock index futures notched cautious gains on Wednesday, ahead of Federal Reserve Chair Jerome Powell's testimony for clues on interest rates as the Ukraine crisis exacerbates concerns about inflation and growth.The mood remained dour across global stock markets as Brent crude jumped to near eight-year highs and metal prices rallied after Western sanctions disrupted transport of commodities exported by Russia.U.S. private job creation rose at a faster-than-expected clip in February, according to a count released Wednesday from payrolls processing firm ADP.Companies added 475,000 positions for the month, better than the Dow Jones estimate for 400,000.ADP also dramatically revised its January count, from an initially reported loss of 301,000 to a gain of 509,000. That brought the tally more closely in line with the Labor Department count for the month of a 467,000 gain.Market SnapshotAt 08:23 a.m. ET, Dow e-minis were up 149 points, or 0.45%, S&P 500 e-minis were up 15.25 points, or 0.35%, and Nasdaq 100 e-minis were up 37.5 points, or 0.27%.Pre-Market MoversNordstrom — The retail stock spiked 30.5% in premarket trading after the company posted better-than-expected fourth-quarter results.Nordstrom reported earnings of $1.23 per share versus the Refinitiv consensus estimate of $1.02 expected. Revenue also topped expectations. The retailer highlighted improvements in its off-price business, Nordstrom Rack.Salesforce — Salesforce shares rose 4% in the premarket after the software company's fourth-quarter report beat Wall Street expectations and issued upbeat guidance. The company posted adjusted earnings of 84 cents per share on revenue of $7.33 billion. Analysts expected a profit of 74 cents per share on revenue of $7.24 billion, according to Refinitiv.Ford — Ford shares added 4% in premarket trading after the automaker announced it will split its electric vehicle and legacy businesses into separate units. The company expects the move will streamline its growing electric vehicle business and maximize profits.SoFi — Shares of the digital financial services company surged 15.5% premarket after SoFi's quarterly report. SoFi posted a loss of 15 cents per share on revenue of $279.9 million versus the Refinitiv consensus estimate of a 17-cents loss per share on revenue of $279.3 million.Ross Stores — Ross Stores added 6.3% in premarket trading after an earnings beat. The retailer reported fourth-quarter earnings of $1.04 per share on revenue of $5.02 billion. Analysts expected a profit of 87 cents per share on revenue of $4.96 billion.Hewlett Packard Enterprise — Shares of Hewlett Packard added 5.5% premarket after the company reported a slight earnings beat for the most recent quarter, but a quarterly revenue miss. Earnings of 53 cents per share for the quarter beat analysts’ estimates by 7 cents. Revenue of $6.96 billion was below the consensus estimate of $7.03 billion.Abercrombie & Fitch — Shares of Abercrombie & Fitch fell 8.1% premarket after the retailer missed top and bottom-line estimates. The company posted adjusted earnings of $1.14 per share on revenue of $1.16 billion. Analysts expected a profit of $1.27 per share on revenue of $1.18 billion, according to StreetAccount.First Solar — Shares of First Solar sunk 12.4% premarket after the company missed revenue expectations for the fourth quarter. The solar-panel manufacturer also issued weak full-year guidance.Dollar Tree — Shares of Dollar Tree were 1% higher premarket after a better-than-expected fourth-quarter report. The company posted earnings of $2.01 per share versus the StreetAccount consensus estimate of $1.78 per share. Revenue slightly missed analyst estimates.DraftKings — DraftKings shares rose 2.3% before the bell after Morgan Stanley named the sports betting stock a top pick. “We expect the US online sports betting/iGaming market to be very large, with a few market share winners, including DKNG,” Morgan Stanley said.Market NewsPowell will testify at 10 a.m. ET (1500 GMT) before the U.S. House of Representatives Financial Services Committee and his comments on the economy in nearly five weeks will confront a situation that has become markedly more complex since January.The U.S. government will ban Russian aircraft from American airspace, broadening aviation restrictions as the West expands sanctions over the war in Ukraine, President Joe Biden said Tuesday during his State of the Union address.Apple, Exxon, Ford Motor and computer maker Dell joined the ranks of companies having to adjust or reassess their business activities because of Russia’s invasion of Ukraine.Netflix today announced that it has entered into a combination agreement to acquire Next Games. Under the terms of the agreement, Netflix will commence a tender offer to acquire all of the issued and outstanding shares of Next Games. Pursuant to the offer, Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of approximately €65 million. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer.Ford Motor Co said on Wednesday its electric vehicle (EV) and internal-combustion engine (ICE) units would be run as separate entities, in a move aimed at supercharging its EV business as it plays catch up with Tesla Inc.U.S. electric vehicle startup Rivian Automotive Inc said on Tuesday it has increased selling prices of its vehicles by about 20per cent due to inflationary pressures and higher component costs, angering some customers.The price increase also invited caustic comments from Elon Musk, chief executive of rival Tesla Inc, who tweeted that Rivian's \"negative gross margin will be staggering\" and it is \"near impossible\" for other firms to make affordable electric pickup trucks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":669,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039988111,"gmtCreate":1645883479044,"gmtModify":1676534072358,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039988111","repostId":"1154871504","repostType":4,"repost":{"id":"1154871504","pubTimestamp":1645831440,"share":"https://ttm.financial/m/news/1154871504?lang=&edition=fundamental","pubTime":"2022-02-26 07:24","market":"us","language":"en","title":"US IPO Weekly Recap: No IPOs in the Short Week Amid Market Turmoil","url":"https://stock-news.laohu8.com/highlight/detail?id=1154871504","media":"Renaissance Capital","summary":"The IPO market was quiet this past week with no IPOs, though three SPACs priced. Pipeline activity p","content":"<html><head></head><body><p>The IPO market was quiet this past week with no IPOs, though three SPACs priced. Pipeline activity picked up slightly as two IPOs and three SPACs submitted initial filings.</p><p>Typically companies wait to set terms until after the long Presidents’ Day weekend, once they have finalized full 2021 financials. However, rising volatility and market turmoil put a damper on post-holiday launches during the week.</p><p>Three SPACs came to market: <b>GSR II Meteora Acquisition</b>(GSRMU), which raised $275 million to target high-growth businesses; <b>Clean Earth Acquisition</b>(CLINU), which raised $200 million to target clean and renewable energy; and<b>FG Merger</b>(FGMCU), which raised $70 million to target financial services in North America.</p><p><img src=\"https://static.tigerbbs.com/20190499a85fd39b758997a4f5e74b76\" tg-width=\"1419\" tg-height=\"383\" width=\"100%\" height=\"auto\"/></p><p>Two IPOs submitted initial filings this past week. Video optimization firm <b>Beemr</b>(BMR) and community bank <b>Hanover Bancorp</b>(HNVR) both filed to raise $35 million.</p><p>Three SPACs submitted initial filings. Consumer-focused <b>Haymaker Acquisition IV</b>(HYIVU) filed to raise $261 million, <b>Giant Oak Acquisition</b>(GOSCU) filed to raise $100 million to target middle-market businesses, and <b>Heroic Empire Acquisition</b>(HEAU.RC) filed to raise $75 million, focusing on the biotech and TMT industries.</p><p><img src=\"https://static.tigerbbs.com/42e7bd34a492ea87a0e4dc15828e7f62\" tg-width=\"1809\" tg-height=\"668\" width=\"100%\" height=\"auto\"/></p><p><b>IPO Market Snapshot</b></p><p>The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 2/24/2022, the Renaissance IPO Index was down 23.2% year-to-date, while the S&amp;P 500 was down 9.8%. Renaissance Capital&#39;s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Uber Technologies (UBER) and Snowflake (SNOW). The Renaissance International IPO Index was down 19.3% year-to-date, while the ACWX was down 8.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Volvo Car Group and Kuaishou.</p></body></html>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Weekly Recap: No IPOs in the Short Week Amid Market Turmoil</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Weekly Recap: No IPOs in the Short Week Amid Market Turmoil\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-26 07:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/91191/US-IPO-Weekly-Recap-No-IPOs-in-the-short-week-amid-market-turmoil><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The IPO market was quiet this past week with no IPOs, though three SPACs priced. Pipeline activity picked up slightly as two IPOs and three SPACs submitted initial filings.Typically companies wait to ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/91191/US-IPO-Weekly-Recap-No-IPOs-in-the-short-week-amid-market-turmoil\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/91191/US-IPO-Weekly-Recap-No-IPOs-in-the-short-week-amid-market-turmoil","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154871504","content_text":"The IPO market was quiet this past week with no IPOs, though three SPACs priced. Pipeline activity picked up slightly as two IPOs and three SPACs submitted initial filings.Typically companies wait to set terms until after the long Presidents’ Day weekend, once they have finalized full 2021 financials. However, rising volatility and market turmoil put a damper on post-holiday launches during the week.Three SPACs came to market: GSR II Meteora Acquisition(GSRMU), which raised $275 million to target high-growth businesses; Clean Earth Acquisition(CLINU), which raised $200 million to target clean and renewable energy; andFG Merger(FGMCU), which raised $70 million to target financial services in North America.Two IPOs submitted initial filings this past week. Video optimization firm Beemr(BMR) and community bank Hanover Bancorp(HNVR) both filed to raise $35 million.Three SPACs submitted initial filings. Consumer-focused Haymaker Acquisition IV(HYIVU) filed to raise $261 million, Giant Oak Acquisition(GOSCU) filed to raise $100 million to target middle-market businesses, and Heroic Empire Acquisition(HEAU.RC) filed to raise $75 million, focusing on the biotech and TMT industries.IPO Market SnapshotThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 2/24/2022, the Renaissance IPO Index was down 23.2% year-to-date, while the S&P 500 was down 9.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Uber Technologies (UBER) and Snowflake (SNOW). The Renaissance International IPO Index was down 19.3% year-to-date, while the ACWX was down 8.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Volvo Car Group and Kuaishou.","news_type":1},"isVote":1,"tweetType":1,"viewCount":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039988993,"gmtCreate":1645883463628,"gmtModify":1676534072359,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039988993","repostId":"1191113671","repostType":4,"repost":{"id":"1191113671","pubTimestamp":1645832617,"share":"https://ttm.financial/m/news/1191113671?lang=&edition=fundamental","pubTime":"2022-02-26 07:43","market":"us","language":"en","title":"3 Beaten-Down Growth Stocks With More Than 50% Upside Potential","url":"https://stock-news.laohu8.com/highlight/detail?id=1191113671","media":"investorplace","summary":"Following the stock market bottom in Mar. 2020, growth stocks dominated the list of best-performing ","content":"<html><head></head><body><p>Following the stock market bottom in Mar. 2020, growth stocks dominated the list of best-performing stocks for the first year of the new bull market. Since then, growth stocks have been mired in a brutal bear market. There is no better example of this than Cathie Wood’s Ark Innovation ETF (NYSEARCA:ARKK), which had a 391% gain from Mar. 2020 to its high in Feb. 2021. Since then, ARKK has given back most of these gains and is down 60% from these lofty levels.</p><p>The major factor behind this sharp decline is increasing inflationary pressures, resulting in expectations that the U.S. Federal Reserve will hike rates seven times this year. Rising inflation and interest rates are bearish for growth stocks because it makes their future cash flows less valuable. However, we also know that oversold markets also create an opportunity to buy high-quality stocks at a discount.</p><p>The key is to look for companies whose earnings momentum and growth are unaffected by changes in economic or monetary conditions. Therefore, investors should consider the following 3 high-quality growth stocks:</p><p>Veeva Systems (NYSE:VEEV)</p><p>Resmed, Inc. (NYSE:RMD)</p><p>Zoetis (NYSE:ZTS)</p><h2>Growth Stocks: Veeva Systems (VEEV)</h2><p>Veeva Systems is a cloud computing and enterprise software company for the healthcare, pharmaceutical, and life sciences industries. It provides software solutions for the unique needs of companies in these industries, from meeting regulatory standards to conducting clinical trials to managing operations.</p><p>Thus, it is positioned at the intersection of two booming trends — healthcare and cloud computing — which show no signs of exhaustion. These industries have produced some of the biggest stock market winners in recent history.</p><p>The healthcare sector’s growth is fueled by demographics due to an aging population in developed countries globally, increased government spending, and the constant stream of innovations that lead to new treatments. Healthcare spending as a share of gross domestic product has risen to 18% in 2020 from under 12% in 1990.</p><p>Veeva combines the growth and high margins of a cloud computing company with the attractive economics of the healthcare industry that has high switching costs and wide moats, leading to high rates of recurring revenue.</p><p>These positives are reflected in Veeva’s last earnings report which shows a 26% increase in revenue and a 28% jump in operating income. Next quarter, analysts expect 13% earnings growth. This combination of earnings growth and stock price deflation has resulted in valuations becoming quite attractive, especially considering that it has profit margins that are more than double that of the S&amp;P 500 and expectations of double-digit earnings growth over the next five years.</p><p>Thus, it is not surprising that VEEV has an overall B rating, which translates to a Buy in our POWR Ratings system. It also has an A for Quality. It is one of the leading stocks in a large total addressable market with only a handful of competitors. Additionally, VEEV has a B for growth. This makes sense given its intersection of two large and growing markets — healthcare and cloud computing. Click here to see more of VEEV’s POWR Ratings, including grades for Value, Momentum, and Stability.</p><h2>Resmed, Inc. (RMD)</h2><p>RMD develops, manufactures, distributes, and markets medical devices and software applications for the healthcare market. The company operates in two segments: Sleep and Respiratory Care, and Software as a Service.</p><p>RMD provides treatments for issues like sleep apnea with its CPAP devices and masks, as well as devices for obstructive pulmonary disease, neuromuscular disease, and other respiratory-related conditions. Unfortunately, due to rising rates of chronic health issues like diabetes and obesity, the demand for RMD’s products is only growing.</p><p>This makes RMD a high-quality growth stock as its long-term prospects are disconnected from short-term issues like economic growth rates or monetary policy. Instead, RMD is serving a growing market with products that are essential for improving quality of life. Due to their nature, these products also have high margins and rates of recurring revenue.</p><p>We can see this momentum in its recent earnings report, which showed revenues increasing by 12% and net income increasing by 5%. Next year, analysts forecast revenue growth and earnings per share (EPS) growth of 17% and 15%, respectively.</p><p>RMD is also a standout in terms of the POWR Ratings with an overall B rating, translating to a Buy. The POWR Ratings assess stocks by 118 distinct factors, each with its own weighting.</p><p>RMD has strong ratings across the board, including a B grade for Growth as analysts are forecasting double-digit revenue growth over the next decade. Within the Medical – Devices &amp; Equipment industry, RMD is ranked #33 out of 165 stocks. Click here to see RMD’s complete POWR Ratings.</p><h2>Growth Stocks: Zoetis (ZTS)</h2><p>Zoetis was spun off from Pfizer (NYSE:PFE) in 2013 and is now the leading manufacturer and producer of animal health products including medicines, vaccines, and diagnostic products. Since its debut, the stock is up more than six-fold.</p><p>One major factor in Zoeitis’ growth is that pet ownership is on the rise. Spending on pets is also rising. These trends have been in place for decades and are likely to persist, creating a positive tailwind for animal health companies like ZTS. Additionally, more people are choosing to buy health insurance for their pets, as well.</p><p>The weakness in growth stocks has led to ZTS’ price pulling back by 30%. However, its recent earnings report shows that the company continues to have strong momentum. The company reported an 11% increase in revenue and 14% increase in earnings. For the full year, analysts forecast 16% revenue growth and 21% EPS growth.</p><p>Given these factors, it is not surprising that ZTS has a B rating, which equates to a Buy in our proprietary rating system. B-rated stocks have posted an average annual performance of 21.1% which compares favorably to the S&amp;P 500’s average gain of 8%.</p><p>In terms of component grades, ZTS has an A for Quality and a B for Stability. ZTS is one of the leading companies in a growing sector. It also is returning cash to shareholders via its dividend and through share buybacks. Click here to get more information about ZTS’ POWR Ratings.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Beaten-Down Growth Stocks With More Than 50% Upside Potential</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Beaten-Down Growth Stocks With More Than 50% Upside Potential\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-26 07:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/02/3-beaten-down-growth-stocks-with-more-than-50-upside-potential/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Following the stock market bottom in Mar. 2020, growth stocks dominated the list of best-performing stocks for the first year of the new bull market. Since then, growth stocks have been mired in a ...</p>\n\n<a href=\"https://investorplace.com/2022/02/3-beaten-down-growth-stocks-with-more-than-50-upside-potential/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZTS":"Zoetis Inc.","RMD":"瑞思迈","VEEV":"Veeva Systems Inc."},"source_url":"https://investorplace.com/2022/02/3-beaten-down-growth-stocks-with-more-than-50-upside-potential/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191113671","content_text":"Following the stock market bottom in Mar. 2020, growth stocks dominated the list of best-performing stocks for the first year of the new bull market. Since then, growth stocks have been mired in a brutal bear market. There is no better example of this than Cathie Wood’s Ark Innovation ETF (NYSEARCA:ARKK), which had a 391% gain from Mar. 2020 to its high in Feb. 2021. Since then, ARKK has given back most of these gains and is down 60% from these lofty levels.The major factor behind this sharp decline is increasing inflationary pressures, resulting in expectations that the U.S. Federal Reserve will hike rates seven times this year. Rising inflation and interest rates are bearish for growth stocks because it makes their future cash flows less valuable. However, we also know that oversold markets also create an opportunity to buy high-quality stocks at a discount.The key is to look for companies whose earnings momentum and growth are unaffected by changes in economic or monetary conditions. Therefore, investors should consider the following 3 high-quality growth stocks:Veeva Systems (NYSE:VEEV)Resmed, Inc. (NYSE:RMD)Zoetis (NYSE:ZTS)Growth Stocks: Veeva Systems (VEEV)Veeva Systems is a cloud computing and enterprise software company for the healthcare, pharmaceutical, and life sciences industries. It provides software solutions for the unique needs of companies in these industries, from meeting regulatory standards to conducting clinical trials to managing operations.Thus, it is positioned at the intersection of two booming trends — healthcare and cloud computing — which show no signs of exhaustion. These industries have produced some of the biggest stock market winners in recent history.The healthcare sector’s growth is fueled by demographics due to an aging population in developed countries globally, increased government spending, and the constant stream of innovations that lead to new treatments. Healthcare spending as a share of gross domestic product has risen to 18% in 2020 from under 12% in 1990.Veeva combines the growth and high margins of a cloud computing company with the attractive economics of the healthcare industry that has high switching costs and wide moats, leading to high rates of recurring revenue.These positives are reflected in Veeva’s last earnings report which shows a 26% increase in revenue and a 28% jump in operating income. Next quarter, analysts expect 13% earnings growth. This combination of earnings growth and stock price deflation has resulted in valuations becoming quite attractive, especially considering that it has profit margins that are more than double that of the S&P 500 and expectations of double-digit earnings growth over the next five years.Thus, it is not surprising that VEEV has an overall B rating, which translates to a Buy in our POWR Ratings system. It also has an A for Quality. It is one of the leading stocks in a large total addressable market with only a handful of competitors. Additionally, VEEV has a B for growth. This makes sense given its intersection of two large and growing markets — healthcare and cloud computing. Click here to see more of VEEV’s POWR Ratings, including grades for Value, Momentum, and Stability.Resmed, Inc. (RMD)RMD develops, manufactures, distributes, and markets medical devices and software applications for the healthcare market. The company operates in two segments: Sleep and Respiratory Care, and Software as a Service.RMD provides treatments for issues like sleep apnea with its CPAP devices and masks, as well as devices for obstructive pulmonary disease, neuromuscular disease, and other respiratory-related conditions. Unfortunately, due to rising rates of chronic health issues like diabetes and obesity, the demand for RMD’s products is only growing.This makes RMD a high-quality growth stock as its long-term prospects are disconnected from short-term issues like economic growth rates or monetary policy. Instead, RMD is serving a growing market with products that are essential for improving quality of life. Due to their nature, these products also have high margins and rates of recurring revenue.We can see this momentum in its recent earnings report, which showed revenues increasing by 12% and net income increasing by 5%. Next year, analysts forecast revenue growth and earnings per share (EPS) growth of 17% and 15%, respectively.RMD is also a standout in terms of the POWR Ratings with an overall B rating, translating to a Buy. The POWR Ratings assess stocks by 118 distinct factors, each with its own weighting.RMD has strong ratings across the board, including a B grade for Growth as analysts are forecasting double-digit revenue growth over the next decade. Within the Medical – Devices & Equipment industry, RMD is ranked #33 out of 165 stocks. Click here to see RMD’s complete POWR Ratings.Growth Stocks: Zoetis (ZTS)Zoetis was spun off from Pfizer (NYSE:PFE) in 2013 and is now the leading manufacturer and producer of animal health products including medicines, vaccines, and diagnostic products. Since its debut, the stock is up more than six-fold.One major factor in Zoeitis’ growth is that pet ownership is on the rise. Spending on pets is also rising. These trends have been in place for decades and are likely to persist, creating a positive tailwind for animal health companies like ZTS. Additionally, more people are choosing to buy health insurance for their pets, as well.The weakness in growth stocks has led to ZTS’ price pulling back by 30%. However, its recent earnings report shows that the company continues to have strong momentum. The company reported an 11% increase in revenue and 14% increase in earnings. For the full year, analysts forecast 16% revenue growth and 21% EPS growth.Given these factors, it is not surprising that ZTS has a B rating, which equates to a Buy in our proprietary rating system. B-rated stocks have posted an average annual performance of 21.1% which compares favorably to the S&P 500’s average gain of 8%.In terms of component grades, ZTS has an A for Quality and a B for Stability. ZTS is one of the leading companies in a growing sector. It also is returning cash to shareholders via its dividend and through share buybacks. Click here to get more information about ZTS’ POWR Ratings.","news_type":1},"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030293645,"gmtCreate":1645736693320,"gmtModify":1676534057685,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼👍🏼","listText":"👍🏼👍🏼","text":"👍🏼👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030293645","repostId":"1165158876","repostType":4,"repost":{"id":"1165158876","pubTimestamp":1645715461,"share":"https://ttm.financial/m/news/1165158876?lang=&edition=fundamental","pubTime":"2022-02-24 23:11","market":"us","language":"en","title":"3 Oil Stocks to Buy as Russia-Ukraine Fears Ignite Oil Prices","url":"https://stock-news.laohu8.com/highlight/detail?id=1165158876","media":"InvestorPlace","summary":"President Joe Biden hasconfirmedthat we have seen the beginning of Russia’s invasion of Ukraine. The eyes of the world remain on the small nation as Western economic powerslevy sanctionsagainst its mu","content":"<html><head></head><body><p>President Joe Biden has confirmed that we have seen the beginning of Russia’s invasion of Ukraine. The eyes of the world remain on the small nation as Western economic powers levy sanctions against its much larger aggressor. The ramifications of the conflict are significant for both countries. Financial markets across the globe, too, are feeling the sting.</p><p>While many stocks are being pushed down, the oil and gas sector is enjoying a ride to the top. Crude oil prices are nearing $100 per barrel, pushing up many oil stocks. These prices haven’t reached triple digits since 2014.</p><p>Russia is one of the world’s largest oil and gas exporters. For the countries that rely on its supplies, these sanctions could mean trouble. As the<i>Washington Post</i>reports, much of Europe is dependent on Russian exports for heating homes and industrial buildings. Ryan Fitzmaurice, a commodity strategist at Rabobankrecently speculatedthat further disruptions in Russia’s oil supply chain could indeed send prices up even further.</p><p>For as long as prices continue to rise, though, oil stocks will continue to benefit. Let’s take a closer look at the oil stocks to buy as the conflict persists.</p><ul><li><a href=\"https://laohu8.com/S/COP\">ConocoPhillips </a></li><li><a href=\"https://laohu8.com/S/DVN\">Devon Energy</a></li><li><a href=\"https://laohu8.com/S/ENB\">Enbridge</a></li></ul><p>Oil Stocks to Buy: <a href=\"https://laohu8.com/S/COP\">ConocoPhillips </a></p><p><img src=\"https://static.tigerbbs.com/1d90fe3eea7e071887a2ca7d42b93172\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/>Source: JHVEPhoto / Shutterstock.com</p><p>One of America’s leading oil and gas producers, ConocoPhillips has already been hailed among the potential winners of the Russia-Ukraine conflict.</p><p>Based on production and proved reserves, itbills itselfas the world’s largest independent exploration and production (E&amp;P) company. Its holdings expand across 14 countries, encompassing much of Europe and parts of the Middle East. As <i>InvestorPlace</i> contributor Josh Enomotodescribes, ConocoPhillips is “one of the biggest oil stocks levered to the upstream component of the energy supply chain.”</p><p>Oil companies built around an upstream approach are considered the top of their field. Enomoto notes that upstream oil stocks can sometimes carry more risk. While that is true, ConocoPhillips is still an established industry leader, making it a “balanced” bet for the category. In September 2021, Enomoto named COP to a list of oil stocks to buy for anyone who believed that barrels would hit a $100 price target. Months later, we are about to see exactly that happen. ConocoPhillips’ recent performance indicates that its place on the list was well deserved.</p><p>As oil prices have risen throughout the past six months, COP stock has increased by more than 60%. For as long as the current oil boom persists, it will remain among the winners.</p><ul><li><a href=\"https://laohu8.com/S/DVN\">Devon Energy</a></li></ul><p><img src=\"https://static.tigerbbs.com/ed9d0513be668ac8b461a2eb4c42adb7\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/>Source: Jeff Whyte / Shutterstock.com</p><p>Another consistent winner of the American oil boom, DVN has enjoyed a better season so far than many of its larger peers such as COP and <a href=\"https://laohu8.com/S/CVX\">Chevron</a>. The Oklahoma-based company is primarily focused on the hydrocarbon exploration business. It has enjoyed bullish action since its reported earnings for the fourth quarter beat analyst expectations.</p><p>As<i>InvestorPlace</i>contributor Joel Baglole recently reported, this impressive start to the year saw several Wall Street institutions raise their price targets on DVN stock including Credit Suisse.  “With proven oil reserves of 752 million barrels, Devon Energy is well-positioned to perform strongly,” Baglole wrote.</p><p>That assessment is well supported by DVN stock’s performance.</p><p>Shares have risen by more than 94% over the past six months. Enomoto also named it as an oil stock to buy for bulls who saw prices reaching the $100 target. He noted that Devon’s domestic focus would likely prove advantageous if geopolitical conflicts were to become a factor for oil markets. The performance that we’ve seen from DVN stock since then lends considerable support to his argument.</p><p>Investors are looking for oil plays close to home as tensions worsen overseas. Devon will likely be a tempting investment, as it should be.</p><ul><li><a href=\"https://laohu8.com/S/ENB\">Enbridge</a></li></ul><p><img src=\"https://static.tigerbbs.com/7361a9297dd728a2b413e607d5b6ba12\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\"/>Source: JHVEPhoto / Shutterstock.com</p><p>Earlier this month, <i>Market</i> <i>Watch</i> reported that analysts were favoring Canadian oil producers. One name that stands out among the country’s growing field is Enbridge.</p><p>Based in Calgary, this company has carved out an impressive market share. In addition to its pipelines, Enbridge also boasts operations in natural gas utility operations. What some may not know, though, is that the company is responsible for transporting more than one-quarter of North America’s crude oil production. This means it moves more than 30% of the continent’s crude oil and as well as almost 20% of the United States’ natural gas. Enbridge is also interested in renewable energy, and its assets include a wind portfolio.</p><p>As oil pipelines across Europe are compromised by the sanctions imposed on Russia, both prices and demand will increase for U.S. and Canada-based producers. <i>InvestorPlace</i> contributor Tezcan Gecgil recently named ENB as an investment to guard against rising inflation. While her argument still holds true, the current boom is an even more pressing reason for it to be listed among oil stocks to buy.  It should absolutely be on the radar of any investor looking for bullish plays on the Russia-Ukraine conflict.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Oil Stocks to Buy as Russia-Ukraine Fears Ignite Oil Prices</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Oil Stocks to Buy as Russia-Ukraine Fears Ignite Oil Prices\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-24 23:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/02/3-oil-stocks-to-buy-as-russia-ukraine-fears-ignite-oil-prices/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>President Joe Biden has confirmed that we have seen the beginning of Russia’s invasion of Ukraine. The eyes of the world remain on the small nation as Western economic powers levy sanctions against ...</p>\n\n<a href=\"https://investorplace.com/2022/02/3-oil-stocks-to-buy-as-russia-ukraine-fears-ignite-oil-prices/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVX":"雪佛龙","ENB":"安桥","DVN":"德文能源","COP":"康菲石油"},"source_url":"https://investorplace.com/2022/02/3-oil-stocks-to-buy-as-russia-ukraine-fears-ignite-oil-prices/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165158876","content_text":"President Joe Biden has confirmed that we have seen the beginning of Russia’s invasion of Ukraine. The eyes of the world remain on the small nation as Western economic powers levy sanctions against its much larger aggressor. The ramifications of the conflict are significant for both countries. Financial markets across the globe, too, are feeling the sting.While many stocks are being pushed down, the oil and gas sector is enjoying a ride to the top. Crude oil prices are nearing $100 per barrel, pushing up many oil stocks. These prices haven’t reached triple digits since 2014.Russia is one of the world’s largest oil and gas exporters. For the countries that rely on its supplies, these sanctions could mean trouble. As theWashington Postreports, much of Europe is dependent on Russian exports for heating homes and industrial buildings. Ryan Fitzmaurice, a commodity strategist at Rabobankrecently speculatedthat further disruptions in Russia’s oil supply chain could indeed send prices up even further.For as long as prices continue to rise, though, oil stocks will continue to benefit. Let’s take a closer look at the oil stocks to buy as the conflict persists.ConocoPhillips Devon EnergyEnbridgeOil Stocks to Buy: ConocoPhillips Source: JHVEPhoto / Shutterstock.comOne of America’s leading oil and gas producers, ConocoPhillips has already been hailed among the potential winners of the Russia-Ukraine conflict.Based on production and proved reserves, itbills itselfas the world’s largest independent exploration and production (E&P) company. Its holdings expand across 14 countries, encompassing much of Europe and parts of the Middle East. As InvestorPlace contributor Josh Enomotodescribes, ConocoPhillips is “one of the biggest oil stocks levered to the upstream component of the energy supply chain.”Oil companies built around an upstream approach are considered the top of their field. Enomoto notes that upstream oil stocks can sometimes carry more risk. While that is true, ConocoPhillips is still an established industry leader, making it a “balanced” bet for the category. In September 2021, Enomoto named COP to a list of oil stocks to buy for anyone who believed that barrels would hit a $100 price target. Months later, we are about to see exactly that happen. ConocoPhillips’ recent performance indicates that its place on the list was well deserved.As oil prices have risen throughout the past six months, COP stock has increased by more than 60%. For as long as the current oil boom persists, it will remain among the winners.Devon EnergySource: Jeff Whyte / Shutterstock.comAnother consistent winner of the American oil boom, DVN has enjoyed a better season so far than many of its larger peers such as COP and Chevron. The Oklahoma-based company is primarily focused on the hydrocarbon exploration business. It has enjoyed bullish action since its reported earnings for the fourth quarter beat analyst expectations.AsInvestorPlacecontributor Joel Baglole recently reported, this impressive start to the year saw several Wall Street institutions raise their price targets on DVN stock including Credit Suisse.  “With proven oil reserves of 752 million barrels, Devon Energy is well-positioned to perform strongly,” Baglole wrote.That assessment is well supported by DVN stock’s performance.Shares have risen by more than 94% over the past six months. Enomoto also named it as an oil stock to buy for bulls who saw prices reaching the $100 target. He noted that Devon’s domestic focus would likely prove advantageous if geopolitical conflicts were to become a factor for oil markets. The performance that we’ve seen from DVN stock since then lends considerable support to his argument.Investors are looking for oil plays close to home as tensions worsen overseas. Devon will likely be a tempting investment, as it should be.EnbridgeSource: JHVEPhoto / Shutterstock.comEarlier this month, Market Watch reported that analysts were favoring Canadian oil producers. One name that stands out among the country’s growing field is Enbridge.Based in Calgary, this company has carved out an impressive market share. In addition to its pipelines, Enbridge also boasts operations in natural gas utility operations. What some may not know, though, is that the company is responsible for transporting more than one-quarter of North America’s crude oil production. This means it moves more than 30% of the continent’s crude oil and as well as almost 20% of the United States’ natural gas. Enbridge is also interested in renewable energy, and its assets include a wind portfolio.As oil pipelines across Europe are compromised by the sanctions imposed on Russia, both prices and demand will increase for U.S. and Canada-based producers. InvestorPlace contributor Tezcan Gecgil recently named ENB as an investment to guard against rising inflation. While her argument still holds true, the current boom is an even more pressing reason for it to be listed among oil stocks to buy.  It should absolutely be on the radar of any investor looking for bullish plays on the Russia-Ukraine conflict.","news_type":1},"isVote":1,"tweetType":1,"viewCount":438,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097180576,"gmtCreate":1645393020744,"gmtModify":1676534022482,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097180576","repostId":"2212245076","repostType":4,"repost":{"id":"2212245076","pubTimestamp":1645345805,"share":"https://ttm.financial/m/news/2212245076?lang=&edition=fundamental","pubTime":"2022-02-20 16:30","market":"us","language":"en","title":"3 Stocks That Turned $5,000 Into $10,000 (or More) in Just a Few Years","url":"https://stock-news.laohu8.com/highlight/detail?id=2212245076","media":"Motley Fool","summary":"Investors don't have to find a proverbial diamond in the rough to score big gains. They just have to look for sustainable growth and settle in.","content":"<html><head></head><body><p>Contrary to a commonly held belief, the buy-and-hold approach to investing isn&#39;t dead. It&#39;s not even on the defensive, nor does it only work if you find the market&#39;s up-and-comers at the right time. You can still reap huge profits using blue-chip stocks well after they&#39;ve become blue chips.</p><p>Here&#39;s a closer look at three familiar names that dished out triple-digit percentage gains on their stocks just within the past few years, and could do the same again over the course of the next few years.</p><h2>1. Alphabet</h2><p><b>Alphabet</b> (NASDAQ:GOOG) (NASDAQ:GOOGL) is of course the company behind search engine behemoth Google, which according to GlobalStats&#39; statcounter handles more than 90% of the world&#39;s web searches -- a market share the company has enjoyed for a long, long time. The Google brand also accounts for around two-thirds of Alphabet&#39;s top line, and (for the time being, anyway) all of the company&#39;s actual profits.</p><p>And what profit growth we&#39;ve seen. Last year&#39;s net income of $76 billion is leaps and bounds better than the $9.7 billion bottom line the company produced 10 years ago, back in 2011. The stock&#39;s price has rallied nearly 800% during that timeframe, from $305 per share then to $2,720 now.</p><p>That&#39;s a tough act to follow, leading some investors to think Alphabet&#39;s highest-growth days are behind it. And, perhaps they are. The world certainly seems to already be using the world wide web as much as it feasibly can. What&#39;s left to drive future growth?</p><p>As it turns out though, there&#39;s still plenty of opportunities for Alphabet to continue its expansion. The company&#39;s Android is also the world&#39;s most popular mobile operating system, with GlobalStats data indicating it&#39;s installed on 70% of the world&#39;s actively used mobile devices. This market isn&#39;t saturated yet, meaning there&#39;s plenty more growth potential in the cards for the advertisement and app-selling platform. In the meantime, Alphabet continues to refine its YouTube property, which boasts 2 billion users per month consuming over 1 billion hours&#39; worth of video content every single day. Alphabet is also showing strong growth in the ever-expanding area of cloud services with its Google Cloud offering.</p><h2>2. Walmart</h2><p>It&#39;s not known or viewed by investors as a high-octane investment, but <b>Walmart</b> (NYSE:WMT) stock has been surprisingly rewarding in recent years despite the fact that <b>Amazon</b> (NASDAQ:AMZN) has encroached on its turf. Shares of the world&#39;s biggest brick-and-mortar retailer are up more than 90% for the past five years, and higher by 125% for the past 10. That reflects annualized revenue growth from $440 billion then to more than $570 billion now.</p><p>Profits haven&#39;t grown nearly as much, but for good reason -- the company continues to invest in it is future, and in e-commerce in particular. Walmart&#39;s also earmarked $14 billion specifically for automation and supply chain improvements, which are ultimately meant to support its growing online marketplace.</p><p>There&#39;s more going on here, however, than the establishment of an e-commerce presence that can at least compete with Amazon.com. Its online shopping efforts are just part of a bigger-picture effort to become more of a lifestyle company akin to Amazon. Primary healthcare, premium private label wine, subscription-based delivery of online orders, and tech-installation services are all part of the bigger plan to make Walmart the go-to name consumers lean on.</p><p>In that, the plan is working (albeit it at a snail&#39;s pace), don&#39;t be surprised to see shares double again over the course of the next 10 years.</p><h2>3. Amazon</h2><p>While nearly everything Walmart does these days is first and foremost meant to combat Amazon.com, that hasn&#39;t prevented the e-commerce giant from growing like crazy. Amazon&#39;s revenue has improved from 2011&#39;s $48 billion to last year&#39;s $470 billion. The stock&#39;s up more than 1,700% for that timeframe, however, buoyed by earnings growth that has dramatically outpaced sales growth thanks to the launch of the company&#39;s cloud computing arm, Amazon Web Services. As it turns out, cloud computing is a considerably more profitable venture than selling merchandise online is.</p><p>It&#39;s unlikely Amazon stock will be able to repeat the feat by 2032. A great deal of the rally stems from the fact that not many people saw the growth coming, and therefore underestimated the stock back in 2012. Investors won&#39;t make the same mistake again.</p><p>Still, even producing half of the gain it produced over the course of the past 10 years during the next 10 years would be a huge win for shareholders.</p><p>And there&#39;s little reason to dismiss the possibility. Amazon is constantly evolving in ways that set the stage for more growth. For instance, the company confirmed it generated $31 billion worth of advertising revenue last year, and that&#39;s despite the service being relatively young, unrefined, and not fully understood by advertisers. Other more nuanced growth drivers include payment services, point-of-sale solutions, and even a grocery store business that cements its relationships with consumers in place. There&#39;s certainly no reason <i>not</i> to expect more big things from the company, and its stock.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks That Turned $5,000 Into $10,000 (or More) in Just a Few Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks That Turned $5,000 Into $10,000 (or More) in Just a Few Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-20 16:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/02/18/3-stocks-that-turned-5000-into-10000-or-more/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Contrary to a commonly held belief, the buy-and-hold approach to investing isn't dead. It's not even on the defensive, nor does it only work if you find the market's up-and-comers at the right time. ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/02/18/3-stocks-that-turned-5000-into-10000-or-more/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","GOOG":"谷歌","WMT":"沃尔玛"},"source_url":"https://www.fool.com/investing/2022/02/18/3-stocks-that-turned-5000-into-10000-or-more/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212245076","content_text":"Contrary to a commonly held belief, the buy-and-hold approach to investing isn't dead. It's not even on the defensive, nor does it only work if you find the market's up-and-comers at the right time. You can still reap huge profits using blue-chip stocks well after they've become blue chips.Here's a closer look at three familiar names that dished out triple-digit percentage gains on their stocks just within the past few years, and could do the same again over the course of the next few years.1. AlphabetAlphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) is of course the company behind search engine behemoth Google, which according to GlobalStats' statcounter handles more than 90% of the world's web searches -- a market share the company has enjoyed for a long, long time. The Google brand also accounts for around two-thirds of Alphabet's top line, and (for the time being, anyway) all of the company's actual profits.And what profit growth we've seen. Last year's net income of $76 billion is leaps and bounds better than the $9.7 billion bottom line the company produced 10 years ago, back in 2011. The stock's price has rallied nearly 800% during that timeframe, from $305 per share then to $2,720 now.That's a tough act to follow, leading some investors to think Alphabet's highest-growth days are behind it. And, perhaps they are. The world certainly seems to already be using the world wide web as much as it feasibly can. What's left to drive future growth?As it turns out though, there's still plenty of opportunities for Alphabet to continue its expansion. The company's Android is also the world's most popular mobile operating system, with GlobalStats data indicating it's installed on 70% of the world's actively used mobile devices. This market isn't saturated yet, meaning there's plenty more growth potential in the cards for the advertisement and app-selling platform. In the meantime, Alphabet continues to refine its YouTube property, which boasts 2 billion users per month consuming over 1 billion hours' worth of video content every single day. Alphabet is also showing strong growth in the ever-expanding area of cloud services with its Google Cloud offering.2. WalmartIt's not known or viewed by investors as a high-octane investment, but Walmart (NYSE:WMT) stock has been surprisingly rewarding in recent years despite the fact that Amazon (NASDAQ:AMZN) has encroached on its turf. Shares of the world's biggest brick-and-mortar retailer are up more than 90% for the past five years, and higher by 125% for the past 10. That reflects annualized revenue growth from $440 billion then to more than $570 billion now.Profits haven't grown nearly as much, but for good reason -- the company continues to invest in it is future, and in e-commerce in particular. Walmart's also earmarked $14 billion specifically for automation and supply chain improvements, which are ultimately meant to support its growing online marketplace.There's more going on here, however, than the establishment of an e-commerce presence that can at least compete with Amazon.com. Its online shopping efforts are just part of a bigger-picture effort to become more of a lifestyle company akin to Amazon. Primary healthcare, premium private label wine, subscription-based delivery of online orders, and tech-installation services are all part of the bigger plan to make Walmart the go-to name consumers lean on.In that, the plan is working (albeit it at a snail's pace), don't be surprised to see shares double again over the course of the next 10 years.3. AmazonWhile nearly everything Walmart does these days is first and foremost meant to combat Amazon.com, that hasn't prevented the e-commerce giant from growing like crazy. Amazon's revenue has improved from 2011's $48 billion to last year's $470 billion. The stock's up more than 1,700% for that timeframe, however, buoyed by earnings growth that has dramatically outpaced sales growth thanks to the launch of the company's cloud computing arm, Amazon Web Services. As it turns out, cloud computing is a considerably more profitable venture than selling merchandise online is.It's unlikely Amazon stock will be able to repeat the feat by 2032. A great deal of the rally stems from the fact that not many people saw the growth coming, and therefore underestimated the stock back in 2012. Investors won't make the same mistake again.Still, even producing half of the gain it produced over the course of the past 10 years during the next 10 years would be a huge win for shareholders.And there's little reason to dismiss the possibility. Amazon is constantly evolving in ways that set the stage for more growth. For instance, the company confirmed it generated $31 billion worth of advertising revenue last year, and that's despite the service being relatively young, unrefined, and not fully understood by advertisers. Other more nuanced growth drivers include payment services, point-of-sale solutions, and even a grocery store business that cements its relationships with consumers in place. There's certainly no reason not to expect more big things from the company, and its stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9013906882,"gmtCreate":1648674804131,"gmtModify":1676534373860,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"🥔👍🏼","listText":"🥔👍🏼","text":"🥔👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9013906882","repostId":"1119843668","repostType":4,"repost":{"id":"1119843668","pubTimestamp":1648646522,"share":"https://ttm.financial/m/news/1119843668?lang=&edition=fundamental","pubTime":"2022-03-30 21:22","market":"us","language":"en","title":"Apple Stock: One Good Day Away From $3 Trillion","url":"https://stock-news.laohu8.com/highlight/detail?id=1119843668","media":"TheStreet","summary":"After struggling through nearly all of 2022, Apple stock is suddenly within striking distance of the","content":"<html><head></head><body><p>After struggling through nearly all of 2022, Apple stock is suddenly within striking distance of the $3 trillion market cap. Here’s what could send AAPL past the milestone.</p><p>The 2022 selloff in Apple stock may finally be over. After stringing together 11 consecutive trading days of gains, the Cupertino company’s equity is within striking distance of being valued at $3 trillion once again.</p><p>Below, we discuss how far AAPL currently is from the milestone. We also present the potential near-term catalysts that could take Apple stock to all-time highs very soon.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/88d71f381c4db9400d5fc2676750c6db\" tg-width=\"1240\" tg-height=\"821\" width=\"100%\" height=\"auto\"/><span>Figure 1: Apple Stock: One Good Day Away From $3 Trillion.</span></p><p><b>AAPL: the road to $3 trillion</b></p><p>I have recently estimated that Apple will likely have 16.4 billion diluted shares outstanding at the end of the current quarter, which is only a couple of days away. This being the case, a share price of $183 would be enough to value AAPL at $3 trillion.</p><p>To get to these levels from the current intraday share price of $178, Apple stock would need to climb a mere 2.8%. For instance, shares jumped 3% on March 15 alone. Therefore, the stock could be only one good day of solid gains away from the key market cap figure.</p><p><b>The key short-term catalysts</b></p><p>It is a near certainty that Apple will only be able to reach a $3 trillion market cap soon if the broad market continues to find support. After entering correction territory earlier in 2022, the S&amp;P 500 (SPY) has been rebounding strongly.</p><p>There are a few factors that could push the entire stock market higher from here:</p><ol><li>The conflict in Ukraine takes a turn for the better (i.e., it head towards resolution);</li><li>Crude oil prices continue to dip from the recent highs;</li><li>Inflation plateaus at around 7% to 9% and begins to moderate;</li><li>The Fed delivers the rate hikes that the market expects — not much more or less;</li><li>The US economy continues to show signs of strength;</li><li>Investors grow more confident that valuations have become attractive.</li></ol><p>A few company-specific catalysts could also play a role here. The most important, by far, is calendar Q1 earnings season, which is set to kick off in only a couple of weeks. Apple’s earnings day is likely four to five weeks away.</p><p>Keep in mind that Apple will start to face eye-popping comps in the current quarter. For instance, iPhone revenue growth this time last year reached an impressive 65%, for a two-year stacked annualized rate of 24%. Can the Cupertino company top that in fiscal 2022?</p><p>Regardless of headline numbers, it will be interesting to hear from CEO Tim Cook and team on a number of topics that could be bullish for AAPL stock. Among them:</p><ol><li>Are the supply chain constraints starting to ease?</li><li>How have consumers received the most recent product launches?</li><li>Is the recent Academy Awards win fueling demand for Apple’s services?</li></ol><p><b>The bad news</b></p><p>Things are definitely starting to look better for Apple stock and its investors. However, the good news (i.e. the recent share price rally) comes alongside bad news for those who chose not to buy AAPL when the price was more attractive, a mere couple of weeks ago.</p><p>I have stated repeatedly that buying Apple stock on the dip has historically proven to be the best decision. Unfortunately, the opportunity that stayed on the table for most of 2022 is no longer.</p><p>At only about 2% to 3% below all-time highs, investors that buy AAPL now must be comfortable with the idea of jumping in near a historical peak.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock: One Good Day Away From $3 Trillion</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock: One Good Day Away From $3 Trillion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-30 21:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/stock/apple-stock-one-good-day-away-from-3-trillion><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After struggling through nearly all of 2022, Apple stock is suddenly within striking distance of the $3 trillion market cap. Here’s what could send AAPL past the milestone.The 2022 selloff in Apple ...</p>\n\n<a href=\"https://www.thestreet.com/apple/stock/apple-stock-one-good-day-away-from-3-trillion\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/apple-stock-one-good-day-away-from-3-trillion","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1119843668","content_text":"After struggling through nearly all of 2022, Apple stock is suddenly within striking distance of the $3 trillion market cap. Here’s what could send AAPL past the milestone.The 2022 selloff in Apple stock may finally be over. After stringing together 11 consecutive trading days of gains, the Cupertino company’s equity is within striking distance of being valued at $3 trillion once again.Below, we discuss how far AAPL currently is from the milestone. We also present the potential near-term catalysts that could take Apple stock to all-time highs very soon.Figure 1: Apple Stock: One Good Day Away From $3 Trillion.AAPL: the road to $3 trillionI have recently estimated that Apple will likely have 16.4 billion diluted shares outstanding at the end of the current quarter, which is only a couple of days away. This being the case, a share price of $183 would be enough to value AAPL at $3 trillion.To get to these levels from the current intraday share price of $178, Apple stock would need to climb a mere 2.8%. For instance, shares jumped 3% on March 15 alone. Therefore, the stock could be only one good day of solid gains away from the key market cap figure.The key short-term catalystsIt is a near certainty that Apple will only be able to reach a $3 trillion market cap soon if the broad market continues to find support. After entering correction territory earlier in 2022, the S&P 500 (SPY) has been rebounding strongly.There are a few factors that could push the entire stock market higher from here:The conflict in Ukraine takes a turn for the better (i.e., it head towards resolution);Crude oil prices continue to dip from the recent highs;Inflation plateaus at around 7% to 9% and begins to moderate;The Fed delivers the rate hikes that the market expects — not much more or less;The US economy continues to show signs of strength;Investors grow more confident that valuations have become attractive.A few company-specific catalysts could also play a role here. The most important, by far, is calendar Q1 earnings season, which is set to kick off in only a couple of weeks. Apple’s earnings day is likely four to five weeks away.Keep in mind that Apple will start to face eye-popping comps in the current quarter. For instance, iPhone revenue growth this time last year reached an impressive 65%, for a two-year stacked annualized rate of 24%. Can the Cupertino company top that in fiscal 2022?Regardless of headline numbers, it will be interesting to hear from CEO Tim Cook and team on a number of topics that could be bullish for AAPL stock. Among them:Are the supply chain constraints starting to ease?How have consumers received the most recent product launches?Is the recent Academy Awards win fueling demand for Apple’s services?The bad newsThings are definitely starting to look better for Apple stock and its investors. However, the good news (i.e. the recent share price rally) comes alongside bad news for those who chose not to buy AAPL when the price was more attractive, a mere couple of weeks ago.I have stated repeatedly that buying Apple stock on the dip has historically proven to be the best decision. Unfortunately, the opportunity that stayed on the table for most of 2022 is no longer.At only about 2% to 3% below all-time highs, investors that buy AAPL now must be comfortable with the idea of jumping in near a historical peak.","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9019869146,"gmtCreate":1648588234317,"gmtModify":1676534356523,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"🥔👍🏼","listText":"🥔👍🏼","text":"🥔👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9019869146","repostId":"2223873824","repostType":2,"repost":{"id":"2223873824","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":1648586520,"share":"https://ttm.financial/m/news/2223873824?lang=&edition=fundamental","pubTime":"2022-03-30 04:42","market":"hk","language":"en","title":"Apple stock is having its best ride of the iPhone era","url":"https://stock-news.laohu8.com/highlight/detail?id=2223873824","media":"Dow Jones","summary":"MW Apple stock is having its best ride of the iPhone era\n\n\n  By Emily Bary \n\n\n  Shares rise for the ","content":"<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Apple stock is having its best ride of the iPhone era\n</p>\n<p>\n  By Emily Bary \n</p>\n<p>\n  Shares rise for the 11th consecutive session, a winning streak unseen since the iTunes store was introduced in 2003 to support Apple's then-hot gadget, the iPod \n</p>\n<p>\n  Apple Inc.'s multiweek rally continued Tuesday, giving the stock its longest winning streak in nearly two decades. \n</p>\n<p>\n  The stock rose 1.9% Tuesday for its 11th straight daily gain, the longest winning streak for Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> since a 12-session stretch that ended May 13, 2003, according to Dow Jones Market Data. For context, that 2003 rally began the day Apple introduced the iTunes Store, which sold songs online for 99 cents apiece. The iPod existed at the time, but the company had yet to debut the iPod mini or iPod shuffle; the iPhone was introduced years later, in 2007. \n</p>\n<p>\n  Apple's 12-session stock rally in May 2003 remains its longest on record. Apple would match that record length if it ends with gains in Wednesday's trading session, and it would beat the record if its shares advance Thursday as well. \n</p>\n<p>\n  The 2003 rally lifted Apple's market capitalization to $6.8 billion from $5.1 billion, per Dow Jones Market Data. The company is in vastly different territory now, as its current streak has inched it closer to a $3 trillion valuation. Apple has added $462 billion in market cap over the current 11-session stretch, an amount larger than the total market caps of all but 10 members of the S&amp;P 500 , according to Dow Jones Market Data. \n</p>\n<p>\n  Apple may not be currently plotting a shake-up of the music industry like it did back in 2003, but the company could be contemplating a big change to the way it sells iPhones. Bloomberg News reported last week that the company was exploring a possible hardware subscription service, which could allow people to pay for iPhones with a monthly subscription fee linked to the App Store and a user's Apple ID. \n</p>\n<p>\n  Unlike with the installment plans that Apple currently offers, the company wouldn't simply split the device cost into, say, 24 chunks over a 24-month span, according to the report. Apple didn't immediately respond to MarketWatch's request for comment. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Katy Huberty recently chimed in with a positive view of this potential strategy, writing that the average Apple user pays less than $1 day for Apple products and services, by her math. She thinks that owners of Apple devices probably ascribe a greater value than that to Apple's offerings and believes many would be willing to pay more. A subscription service could help Apple extract more revenue, especially from the most dedicated users, in her view. \n</p>\n<p>\n  With Tuesday's rally, Apple shares are set to wipe out their losses for 2022. The stock is currently up 0.8% so far in 2022, versus a 2.9% decline this year for the Dow Jones Industrial Average , of which Apple is a component. \n</p>\n<p>\n  -Emily Bary \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  March 29, 2022 16:42 ET (20:42 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple stock is having its best ride of the iPhone era</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple stock is having its best ride of the iPhone era\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\">2022-03-30 04:42</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Apple stock is having its best ride of the iPhone era\n</p>\n<p>\n  By Emily Bary \n</p>\n<p>\n  Shares rise for the 11th consecutive session, a winning streak unseen since the iTunes store was introduced in 2003 to support Apple's then-hot gadget, the iPod \n</p>\n<p>\n  Apple Inc.'s multiweek rally continued Tuesday, giving the stock its longest winning streak in nearly two decades. \n</p>\n<p>\n  The stock rose 1.9% Tuesday for its 11th straight daily gain, the longest winning streak for Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a> since a 12-session stretch that ended May 13, 2003, according to Dow Jones Market Data. For context, that 2003 rally began the day Apple introduced the iTunes Store, which sold songs online for 99 cents apiece. The iPod existed at the time, but the company had yet to debut the iPod mini or iPod shuffle; the iPhone was introduced years later, in 2007. \n</p>\n<p>\n  Apple's 12-session stock rally in May 2003 remains its longest on record. Apple would match that record length if it ends with gains in Wednesday's trading session, and it would beat the record if its shares advance Thursday as well. \n</p>\n<p>\n  The 2003 rally lifted Apple's market capitalization to $6.8 billion from $5.1 billion, per Dow Jones Market Data. The company is in vastly different territory now, as its current streak has inched it closer to a $3 trillion valuation. Apple has added $462 billion in market cap over the current 11-session stretch, an amount larger than the total market caps of all but 10 members of the S&amp;P 500 , according to Dow Jones Market Data. \n</p>\n<p>\n  Apple may not be currently plotting a shake-up of the music industry like it did back in 2003, but the company could be contemplating a big change to the way it sells iPhones. Bloomberg News reported last week that the company was exploring a possible hardware subscription service, which could allow people to pay for iPhones with a monthly subscription fee linked to the App Store and a user's Apple ID. \n</p>\n<p>\n  Unlike with the installment plans that Apple currently offers, the company wouldn't simply split the device cost into, say, 24 chunks over a 24-month span, according to the report. Apple didn't immediately respond to MarketWatch's request for comment. \n</p>\n<p>\n  <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> analyst Katy Huberty recently chimed in with a positive view of this potential strategy, writing that the average Apple user pays less than $1 day for Apple products and services, by her math. She thinks that owners of Apple devices probably ascribe a greater value than that to Apple's offerings and believes many would be willing to pay more. A subscription service could help Apple extract more revenue, especially from the most dedicated users, in her view. \n</p>\n<p>\n  With Tuesday's rally, Apple shares are set to wipe out their losses for 2022. The stock is currently up 0.8% so far in 2022, versus a 2.9% decline this year for the Dow Jones Industrial Average , of which Apple is a component. \n</p>\n<p>\n  -Emily Bary \n</p>\n<pre>\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/END\">$(END)$</a> Dow Jones Newswires\n</p>\n<p>\n  March 29, 2022 16:42 ET (20:42 GMT)\n</p>\n<p>\n  Copyright (c) 2022 Dow Jones &amp; Company, Inc.\n</p>\n</font></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4170":"电脑硬件、储存设备及电脑周边","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4515":"5G概念","BK4553":"喜马拉雅资本持仓","BK4571":"数字音乐概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","BK4566":"资本集团","BK4559":"巴菲特持仓","BK4527":"明星科技股","BK4501":"段永平概念","BK4550":"红杉资本持仓","BK4579":"人工智能","BK4574":"无人驾驶","BK4573":"虚拟现实","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4512":"苹果概念"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2223873824","content_text":"MW Apple stock is having its best ride of the iPhone era\n\n\n  By Emily Bary \n\n\n  Shares rise for the 11th consecutive session, a winning streak unseen since the iTunes store was introduced in 2003 to support Apple's then-hot gadget, the iPod \n\n\n  Apple Inc.'s multiweek rally continued Tuesday, giving the stock its longest winning streak in nearly two decades. \n\n\n  The stock rose 1.9% Tuesday for its 11th straight daily gain, the longest winning streak for Apple $(AAPL)$ since a 12-session stretch that ended May 13, 2003, according to Dow Jones Market Data. For context, that 2003 rally began the day Apple introduced the iTunes Store, which sold songs online for 99 cents apiece. The iPod existed at the time, but the company had yet to debut the iPod mini or iPod shuffle; the iPhone was introduced years later, in 2007. \n\n\n  Apple's 12-session stock rally in May 2003 remains its longest on record. Apple would match that record length if it ends with gains in Wednesday's trading session, and it would beat the record if its shares advance Thursday as well. \n\n\n  The 2003 rally lifted Apple's market capitalization to $6.8 billion from $5.1 billion, per Dow Jones Market Data. The company is in vastly different territory now, as its current streak has inched it closer to a $3 trillion valuation. Apple has added $462 billion in market cap over the current 11-session stretch, an amount larger than the total market caps of all but 10 members of the S&P 500 , according to Dow Jones Market Data. \n\n\n  Apple may not be currently plotting a shake-up of the music industry like it did back in 2003, but the company could be contemplating a big change to the way it sells iPhones. Bloomberg News reported last week that the company was exploring a possible hardware subscription service, which could allow people to pay for iPhones with a monthly subscription fee linked to the App Store and a user's Apple ID. \n\n\n  Unlike with the installment plans that Apple currently offers, the company wouldn't simply split the device cost into, say, 24 chunks over a 24-month span, according to the report. Apple didn't immediately respond to MarketWatch's request for comment. \n\n\nMorgan Stanley analyst Katy Huberty recently chimed in with a positive view of this potential strategy, writing that the average Apple user pays less than $1 day for Apple products and services, by her math. She thinks that owners of Apple devices probably ascribe a greater value than that to Apple's offerings and believes many would be willing to pay more. A subscription service could help Apple extract more revenue, especially from the most dedicated users, in her view. \n\n\n  With Tuesday's rally, Apple shares are set to wipe out their losses for 2022. The stock is currently up 0.8% so far in 2022, versus a 2.9% decline this year for the Dow Jones Industrial Average , of which Apple is a component. \n\n\n  -Emily Bary \n\n\n \n\n\n$(END)$ Dow Jones Newswires\n\n\n  March 29, 2022 16:42 ET (20:42 GMT)\n\n\n  Copyright (c) 2022 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097609493,"gmtCreate":1645423271119,"gmtModify":1676534026896,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097609493","repostId":"2212670139","repostType":2,"repost":{"id":"2212670139","pubTimestamp":1645401395,"share":"https://ttm.financial/m/news/2212670139?lang=&edition=fundamental","pubTime":"2022-02-21 07:56","market":"us","language":"en","title":"5 Unexpected Sources of Retirement Income","url":"https://stock-news.laohu8.com/highlight/detail?id=2212670139","media":"Motley Fool","summary":"Don't end up with less income than you need in retirement.","content":"<html><head></head><body><p>When you&#39;re young, and need more income, you might take on an extra job, get a raise at work, or switch to a better-paying job. But when you&#39;re retired, those options may not be feasible. Still, retirees need ample income to survive for possibly two or three decades (or more), and Social Security alone is never going to provide as much as they need.</p><p>Here are five sources of income to consider for your retirement. See which ones make sense for you, and perhaps tuck <a href=\"https://laohu8.com/S/AONE.U\">one</a> or two in the back of your mind for later.</p><p><img src=\"https://static.tigerbbs.com/74afbed74cc9005e7efd0be923397d7e\" tg-width=\"700\" tg-height=\"457\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Image source: Getty Images.</p><h2><b>1. Your Health Savings Account</b></h2><p>If you have a high-deductible health insurance plan, you may be able to set up a Health Savings Account (HSA), which can help you pay for qualifying medical expenses on a pre-tax basis. That&#39;s great, and it will save you money, but there&#39;s even more to like about HSAs.</p><p>A key feature of the HSA is that, unlike its cousin, the Flexible Spending Account (FSA), the money put into it isn&#39;t there on a use-it-or-lose-it basis. Whatever isn&#39;t spent on those qualifying expenses gets to stay and grow. Better still, it can be invested in stocks, too.</p><p>But wait -- there&#39;s more! Once you turn 65, you can spend that money on anything. Any sums not spent on qualifying healthcare expenses will count as taxable income to you, just like withdrawals from a traditional IRA or 401(k) account. So an HSA account can serve as a good retirement savings account. Since retirees often face hefty healthcare expenses, you may end up spending much of the account on them anyway, saving on taxes in the process.</p><h2><b>2. Dividends</b></h2><p>You might not think of dividends as an unexpected income source in retirement, but there&#39;s a good chance you&#39;re not taking them seriously enough. You may just be expecting a few hundred dollars here and there, at most. That&#39;s not how it has to be.</p><p>If you have a portfolio with a bunch of healthy and growing dividend-paying stocks in it, you may be able to set yourself up for an income stream that rivals Social Security. For example, with a $500,000 portfolio that has an overall dividend yield of 4%, you can expect to receive $20,000 per year in dividends alone. Even better, the income will arrive without your having to sell any shares. You can hang on to the shares, and ideally, they will grow in value. Great dividend-payers tend to increase their payouts over time, too.</p><p>For perspective, the average Social Security retirement benefit was recently $1,661 per month or about $20,000 per year.</p><p><img src=\"https://static.tigerbbs.com/6dc2c60a5340c0360dff2af4df6709b2\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Image source: Getty Images.</p><h2><b>3. Interest</b></h2><p>Interest can be another powerful source of retirement income -- just not right now, as interest rates have been extremely low for many years. But inflation has been on the upswing, and the Federal Reserve has signaled that increases are on the way. If you have $100,000 in short-term investments and you&#39;re earning 1% interest on it these days, that&#39;s $1,000 in interest income. It&#39;s better than nothing, but it won&#39;t go far in retirement.</p><p>Remember, though, that interest rates do fluctuate over time. Check out some historic prime rates in the table below:</p><table><thead><tr><th><p>Date</p></th><th><p>Prime Rate</p></th></tr></thead><tbody><tr><td width=\"145\"><p>Aug. 1, 1948</p></td><td width=\"192\"><p>2.00%</p></td></tr><tr><td width=\"145\"><p>Jan. 22, 1958</p></td><td width=\"192\"><p>4.00%</p></td></tr><tr><td width=\"145\"><p>Dec. 18, 1968</p></td><td width=\"192\"><p>6.75%</p></td></tr><tr><td width=\"145\"><p>Dec. 3, 1973</p></td><td width=\"192\"><p>9.75%</p></td></tr><tr><td width=\"145\"><p>Dec. 26, 1978</p></td><td width=\"192\"><p>11.75%</p></td></tr><tr><td width=\"145\"><p>April 2, 1980</p></td><td width=\"192\"><p>20.00%</p></td></tr><tr><td width=\"145\"><p>Dec. 19, 1980</p></td><td width=\"192\"><p>21.50%</p></td></tr><tr><td width=\"145\"><p>Nov. 28, 1988</p></td><td width=\"192\"><p>10.50%</p></td></tr><tr><td width=\"145\"><p>July 2, 1992</p></td><td width=\"192\"><p>6.00%</p></td></tr><tr><td width=\"145\"><p>May 17, 2000</p></td><td width=\"192\"><p>9.50%</p></td></tr><tr><td width=\"145\"><p>June 27, 2003</p></td><td width=\"192\"><p>4.00%</p></td></tr><tr><td width=\"145\"><p>Dec. 13, 2005</p></td><td width=\"192\"><p>7.25%</p></td></tr><tr><td width=\"145\"><p>Oct. 29, 2008</p></td><td width=\"192\"><p>4.00%</p></td></tr><tr><td width=\"145\"><p>March 15, 2020</p></td><td width=\"192\"><p>3.25%</p></td></tr></tbody></table><p>Source: Fedprimerate.com.</p><p>There are occasional periods when interest rates can be well into the double digits. If your $100,000 portfolio is earning 8% interest, that&#39;s $8,000 in annual income to you -- about $667 per month. That kind of income can go a long way toward paying for food, utilities, or travel in retirement. Depending on how high interest rates go in the coming years, interest may be an unexpected source of retirement income.</p><h2><b>4. A side job</b></h2><p>I noted that in retirement, you might not be up to a regular side job, such as being a cashier in a store. But there <i>are </i>some kinds of side jobs that you may be able to take on, at least for a few years, which can bring some meaningful income into your household.</p><p>For example, you may be able to give language or music lessons to kids or adults. If you charge $50 for a lesson and give six lessons per week, that&#39;s $300 in extra income for the week -- amounting to about $15,000 per year. You might make things to sell, such as sweaters or furniture, or you could take on some freelance work that you do at your computer such as writing, editing, or designing.</p><h2><b>5. Your house</b></h2><p>Your home may provide another unexpected income stream if you rent out space in it through services such as <b>Airbnb</b> or <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a>&#39;s</b> service VRBO. If you spend a week or several weeks at a time visiting friends or family, your home might be available to rent for several long stretches. Depending on the accommodations you can offer and your home&#39;s location, you may be able to net around $100 to $200 per night or more, so renting out your space for 14 nights per year could generate $1,400 to $2,800 per year.</p><p>Depending on your circumstances, you might even take in a boarder for a while. If you charge $600 per month for a bedroom and kitchen privileges, you could generate $7,200 per year (pre-tax).</p><p>Another way to wring money out of your home is a reverse mortgage. It won&#39;t work for everyone, and it doesn&#39;t make sense for everyone, either. However, it&#39;s a valuable solution for some retirees when more income is needed. It involves borrowing money using your home as collateral and receiving regular payments based on its value. The loan doesn&#39;t have to be repaid until you no longer live in the home, such as when you die or move into a retirement home or care facility. There are various pros and cons to consider, so read up on reverse mortgages if you&#39;re interested.</p><p>A little digging around online may turn up some more sources of income, but one or more of these five ideas could serve you well in the future.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Unexpected Sources of Retirement Income</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n5 Unexpected Sources of Retirement Income\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-21 07:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/02/20/5-unexpected-sources-of-retirement-income/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When you're young, and need more income, you might take on an extra job, get a raise at work, or switch to a better-paying job. But when you're retired, those options may not be feasible. Still, ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/02/20/5-unexpected-sources-of-retirement-income/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2022/02/20/5-unexpected-sources-of-retirement-income/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212670139","content_text":"When you're young, and need more income, you might take on an extra job, get a raise at work, or switch to a better-paying job. But when you're retired, those options may not be feasible. Still, retirees need ample income to survive for possibly two or three decades (or more), and Social Security alone is never going to provide as much as they need.Here are five sources of income to consider for your retirement. See which ones make sense for you, and perhaps tuck one or two in the back of your mind for later.Image source: Getty Images.1. Your Health Savings AccountIf you have a high-deductible health insurance plan, you may be able to set up a Health Savings Account (HSA), which can help you pay for qualifying medical expenses on a pre-tax basis. That's great, and it will save you money, but there's even more to like about HSAs.A key feature of the HSA is that, unlike its cousin, the Flexible Spending Account (FSA), the money put into it isn't there on a use-it-or-lose-it basis. Whatever isn't spent on those qualifying expenses gets to stay and grow. Better still, it can be invested in stocks, too.But wait -- there's more! Once you turn 65, you can spend that money on anything. Any sums not spent on qualifying healthcare expenses will count as taxable income to you, just like withdrawals from a traditional IRA or 401(k) account. So an HSA account can serve as a good retirement savings account. Since retirees often face hefty healthcare expenses, you may end up spending much of the account on them anyway, saving on taxes in the process.2. DividendsYou might not think of dividends as an unexpected income source in retirement, but there's a good chance you're not taking them seriously enough. You may just be expecting a few hundred dollars here and there, at most. That's not how it has to be.If you have a portfolio with a bunch of healthy and growing dividend-paying stocks in it, you may be able to set yourself up for an income stream that rivals Social Security. For example, with a $500,000 portfolio that has an overall dividend yield of 4%, you can expect to receive $20,000 per year in dividends alone. Even better, the income will arrive without your having to sell any shares. You can hang on to the shares, and ideally, they will grow in value. Great dividend-payers tend to increase their payouts over time, too.For perspective, the average Social Security retirement benefit was recently $1,661 per month or about $20,000 per year.Image source: Getty Images.3. InterestInterest can be another powerful source of retirement income -- just not right now, as interest rates have been extremely low for many years. But inflation has been on the upswing, and the Federal Reserve has signaled that increases are on the way. If you have $100,000 in short-term investments and you're earning 1% interest on it these days, that's $1,000 in interest income. It's better than nothing, but it won't go far in retirement.Remember, though, that interest rates do fluctuate over time. Check out some historic prime rates in the table below:DatePrime RateAug. 1, 19482.00%Jan. 22, 19584.00%Dec. 18, 19686.75%Dec. 3, 19739.75%Dec. 26, 197811.75%April 2, 198020.00%Dec. 19, 198021.50%Nov. 28, 198810.50%July 2, 19926.00%May 17, 20009.50%June 27, 20034.00%Dec. 13, 20057.25%Oct. 29, 20084.00%March 15, 20203.25%Source: Fedprimerate.com.There are occasional periods when interest rates can be well into the double digits. If your $100,000 portfolio is earning 8% interest, that's $8,000 in annual income to you -- about $667 per month. That kind of income can go a long way toward paying for food, utilities, or travel in retirement. Depending on how high interest rates go in the coming years, interest may be an unexpected source of retirement income.4. A side jobI noted that in retirement, you might not be up to a regular side job, such as being a cashier in a store. But there are some kinds of side jobs that you may be able to take on, at least for a few years, which can bring some meaningful income into your household.For example, you may be able to give language or music lessons to kids or adults. If you charge $50 for a lesson and give six lessons per week, that's $300 in extra income for the week -- amounting to about $15,000 per year. You might make things to sell, such as sweaters or furniture, or you could take on some freelance work that you do at your computer such as writing, editing, or designing.5. Your houseYour home may provide another unexpected income stream if you rent out space in it through services such as Airbnb or Expedia's service VRBO. If you spend a week or several weeks at a time visiting friends or family, your home might be available to rent for several long stretches. Depending on the accommodations you can offer and your home's location, you may be able to net around $100 to $200 per night or more, so renting out your space for 14 nights per year could generate $1,400 to $2,800 per year.Depending on your circumstances, you might even take in a boarder for a while. If you charge $600 per month for a bedroom and kitchen privileges, you could generate $7,200 per year (pre-tax).Another way to wring money out of your home is a reverse mortgage. It won't work for everyone, and it doesn't make sense for everyone, either. However, it's a valuable solution for some retirees when more income is needed. It involves borrowing money using your home as collateral and receiving regular payments based on its value. The loan doesn't have to be repaid until you no longer live in the home, such as when you die or move into a retirement home or care facility. There are various pros and cons to consider, so read up on reverse mortgages if you're interested.A little digging around online may turn up some more sources of income, but one or more of these five ideas could serve you well in the future.","news_type":1},"isVote":1,"tweetType":1,"viewCount":96,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094164174,"gmtCreate":1645088616504,"gmtModify":1676533995728,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094164174","repostId":"1128008738","repostType":4,"repost":{"id":"1128008738","pubTimestamp":1645087415,"share":"https://ttm.financial/m/news/1128008738?lang=&edition=fundamental","pubTime":"2022-02-17 16:43","market":"us","language":"en","title":"3 Game Companies Amazon Could Partner With","url":"https://stock-news.laohu8.com/highlight/detail?id=1128008738","media":"TheStreet","summary":"Many Big Tech companies have been on a game company spending spree. Microsoft (MSFT) recently announ","content":"<html><head></head><body><p>Many Big Tech companies have been on a game company spending spree. Microsoft (<b>MSFT</b>) recently announced it will buy Activision Blizzard (<b>ATVI</b>) -Get Activision Blizzard, Inc. Report for a record $68.7 billion.</p><p>And Sony (<b>SONY</b>) Interactive CEO Jim Ryan has stated that Bungie was only the first of many buyouts.</p><p>Amazon&#39;s (<b>AMZN</b>) Games division just launched a new project, Lost Ark, that has claimed the title of second most played game on Steam ever. Here are our picks to help Amazon Games to expand even further.</p><p><b>Electronic Arts</b></p><p>Amazon’s efforts have been concentrated on massively multiplayer online role-playing games (MMORPGs). This video game category gathers multiple players online. Electronic Arts (<b>EA</b>) subsidiary BioWare was responsible for the popular MMORPG<i>Star Wars: The Old Republic</i>. This shows the company possesses the know-how to enhance Amazon’s strategy in the world of RPGs.</p><p>Also, California-based Electronic Arts&#39; portfolio shares synergies with Amazon’s marketing efforts: EA owns the popular Madden franchise, while Amazon Prime holds exclusive rights for transmitting NFL&#39;s<i>Thursday Night Football</i>.</p><p>And because Electronic Arts is frequently accused of valuing monetization over delivering satisfying products, the company’s public image could benefit from such partnership with (or acquisition by) Amazon Games.</p><p><b>Capcom</b></p><p>Activision’s appeal for Microsoft is partially because of its famous video game franchises. Sony responded in the same manner by acquiring the producer of one of the most famous Xbox series,<i>Halo</i>.</p><p>If the secret for running a successful video game publisher is having long-beloved franchises under its umbrella, Capcom(<b>CCOEY</b>) is the right partner for Amazon Games. The Japanese company produces a great variety of game series, such as <i>Resident Evil</i>and<i>Street Fighter</i>, which could ultimately help Amazon diversify its portfolio (which is currently concentrated in MMORPGs).</p><p><b>Square Enix</b></p><p>And our last guess is another Japanese company. If Amazon’s intention is to venture deeper into the world of RPGs, the producer of the <i>Final Fantasy</i> franchise could be its right partner.</p><p>In fact, since their debut, Activision franchises <i>Crash Bandicoot</i>and<i>Spyro the Dragon</i> have been linked mostly to Sony’s PlayStation. They may soon belong to Microsoft, thanks to the proposed deal.</p><p>In response, Sony acquired Bungie, the producer of<i>Halo</i>.</p><p>An Amazon partnership with Square Enix (SQNNY) could shake things up even more, as the <i>Final Fantasy</i> franchise is also closely linked to Sony.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Game Companies Amazon Could Partner With</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Game Companies Amazon Could Partner With\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-17 16:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/amazon/news/3-game-companies-amazon-could-partner-with><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Many Big Tech companies have been on a game company spending spree. Microsoft (MSFT) recently announced it will buy Activision Blizzard (ATVI) -Get Activision Blizzard, Inc. Report for a record $68.7 ...</p>\n\n<a href=\"https://www.thestreet.com/amazon/news/3-game-companies-amazon-could-partner-with\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EA":"艺电","CCOEY":"Capcom Co. Ltd","AMZN":"亚马逊"},"source_url":"https://www.thestreet.com/amazon/news/3-game-companies-amazon-could-partner-with","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128008738","content_text":"Many Big Tech companies have been on a game company spending spree. Microsoft (MSFT) recently announced it will buy Activision Blizzard (ATVI) -Get Activision Blizzard, Inc. Report for a record $68.7 billion.And Sony (SONY) Interactive CEO Jim Ryan has stated that Bungie was only the first of many buyouts.Amazon's (AMZN) Games division just launched a new project, Lost Ark, that has claimed the title of second most played game on Steam ever. Here are our picks to help Amazon Games to expand even further.Electronic ArtsAmazon’s efforts have been concentrated on massively multiplayer online role-playing games (MMORPGs). This video game category gathers multiple players online. Electronic Arts (EA) subsidiary BioWare was responsible for the popular MMORPGStar Wars: The Old Republic. This shows the company possesses the know-how to enhance Amazon’s strategy in the world of RPGs.Also, California-based Electronic Arts' portfolio shares synergies with Amazon’s marketing efforts: EA owns the popular Madden franchise, while Amazon Prime holds exclusive rights for transmitting NFL'sThursday Night Football.And because Electronic Arts is frequently accused of valuing monetization over delivering satisfying products, the company’s public image could benefit from such partnership with (or acquisition by) Amazon Games.CapcomActivision’s appeal for Microsoft is partially because of its famous video game franchises. Sony responded in the same manner by acquiring the producer of one of the most famous Xbox series,Halo.If the secret for running a successful video game publisher is having long-beloved franchises under its umbrella, Capcom(CCOEY) is the right partner for Amazon Games. The Japanese company produces a great variety of game series, such as Resident EvilandStreet Fighter, which could ultimately help Amazon diversify its portfolio (which is currently concentrated in MMORPGs).Square EnixAnd our last guess is another Japanese company. If Amazon’s intention is to venture deeper into the world of RPGs, the producer of the Final Fantasy franchise could be its right partner.In fact, since their debut, Activision franchises Crash BandicootandSpyro the Dragon have been linked mostly to Sony’s PlayStation. They may soon belong to Microsoft, thanks to the proposed deal.In response, Sony acquired Bungie, the producer ofHalo.An Amazon partnership with Square Enix (SQNNY) could shake things up even more, as the Final Fantasy franchise is also closely linked to Sony.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035077368,"gmtCreate":1647479027347,"gmtModify":1676534235150,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"🥔👍🏼","listText":"🥔👍🏼","text":"🥔👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035077368","repostId":"1106264095","repostType":4,"isVote":1,"tweetType":1,"viewCount":577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030024204,"gmtCreate":1645583475802,"gmtModify":1676534042787,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030024204","repostId":"1158951353","repostType":2,"repost":{"id":"1158951353","pubTimestamp":1645582077,"share":"https://ttm.financial/m/news/1158951353?lang=&edition=fundamental","pubTime":"2022-02-23 10:07","market":"us","language":"en","title":"Why Tesla, Rivian and Nio All Dropped on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1158951353","media":"Motley Fool","summary":"KEY POINTSElon Musk has made his next move in his ongoing battle with regulators.Growing geopolitica","content":"<html><head></head><body><p><b>KEY POINTS</b></p><ul><li>Elon Musk has made his next move in his ongoing battle with regulators.</li><li>Growing geopolitical uncertainty is weighing on some of these EV companies.</li></ul><p><b>What happened</b></p><p>Electric vehicle (EV) stocks are taking a hit Tuesday, with widely followed names such as <b>Tesla</b>, electric truck start-up <b>Rivian</b>, and Chinese manufacturer <b>Nio</b> leading the way downward. Some of their pain comes from self-inflicted wounds, while some is tied to the generally pessimistic market sentiment as geopolitical tensions rise. As of closed, shares of Tesla, Rivian, and Nio fell 4.1%, 6%, and 6.2%, respectively.</p><p><b>So what</b></p><p>Tesla shares are down by about 29% from where they opened on the first trading day of 2022. Some of that decline can certainly be connected to an overall market shift away from fast-growing tech stocks. But some of it can also be traced to company-specific issues. For instance, CEO Elon Musk is continuing to spar with regulators, including the Securities and Exchange Commission (SEC).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/87f8edcb2296b064d99dc9b41021c609\" tg-width=\"2000\" tg-height=\"1125\" referrerpolicy=\"no-referrer\"/><span>Image source: Getty Images.</span></p><p>Musk and his attorneys most recently accused the SEC of publicly leaking information from a federal probe into Musk and Tesla as a form of retaliation. The company is also still enduring delays in getting full regulatory approval to begin operations at its new German gigafactory near Berlin. Add in the geopolitical uncertainty related to Russian conflict with Ukraine, and you have a recipe for stock declines.</p><p><b>Now what</b></p><p>Musk has been public about his criticisms of the SEC since 2018, when he posted a message on social media that Tesla had secured funding to go private. A subsequent settlement reached in 2019 called for his social media communications to be monitored by company lawyers. On Monday, as reported by CNBC, attorney Alex Spiro, representing Musk and Tesla, issued a letter to a federal court stating, &#34;It has become clearer and clearer that the Commission [SEC] is out to retaliate against my clients for exercising their First Amendment rights.&#34;</p><p>Also on Monday,<i>The</i> <i>Wall Street Journal</i> printed an article highlighting the regulatory approval issues and public opposition that are hindering the planned opening of Tesla&#39;s German factory.</p><p>Those all sound like highly Tesla-specific issues, so they wouldn&#39;t explain why other electric car companies&#39; stocks are down Tuesday. And Nio is also just beginning to expand into Europe. The Chinese, U.S., and European markets will all be impacted in some ways if the Russia-Ukraine conflict escalates further.</p><p>Investors are generally adopting a &#34;risk-off&#34; stance as that situation continues to evolve. All of these EV makers are growth stocks carrying rich and speculative valuations. Any turbulence that could slow them along their paths to living up to those valuations will tend to reset investors&#39; expectations, and with them, share prices. That seems to be what&#39;s occurring with Tesla, Rivian, and Nio on Tuesday.</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>Why Tesla, Rivian and Nio All Dropped on Tuesday</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\">\nWhy Tesla, Rivian and Nio All Dropped on Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-23 10:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/02/22/why-tesla-rivian-and-nio-are-all-dropping-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSElon Musk has made his next move in his ongoing battle with regulators.Growing geopolitical uncertainty is weighing on some of these EV companies.What happenedElectric vehicle (EV) stocks ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/02/22/why-tesla-rivian-and-nio-are-all-dropping-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","TSLA":"特斯拉","RIVN":"Rivian Automotive, Inc."},"source_url":"https://www.fool.com/investing/2022/02/22/why-tesla-rivian-and-nio-are-all-dropping-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158951353","content_text":"KEY POINTSElon Musk has made his next move in his ongoing battle with regulators.Growing geopolitical uncertainty is weighing on some of these EV companies.What happenedElectric vehicle (EV) stocks are taking a hit Tuesday, with widely followed names such as Tesla, electric truck start-up Rivian, and Chinese manufacturer Nio leading the way downward. Some of their pain comes from self-inflicted wounds, while some is tied to the generally pessimistic market sentiment as geopolitical tensions rise. As of closed, shares of Tesla, Rivian, and Nio fell 4.1%, 6%, and 6.2%, respectively.So whatTesla shares are down by about 29% from where they opened on the first trading day of 2022. Some of that decline can certainly be connected to an overall market shift away from fast-growing tech stocks. But some of it can also be traced to company-specific issues. For instance, CEO Elon Musk is continuing to spar with regulators, including the Securities and Exchange Commission (SEC).Image source: Getty Images.Musk and his attorneys most recently accused the SEC of publicly leaking information from a federal probe into Musk and Tesla as a form of retaliation. The company is also still enduring delays in getting full regulatory approval to begin operations at its new German gigafactory near Berlin. Add in the geopolitical uncertainty related to Russian conflict with Ukraine, and you have a recipe for stock declines.Now whatMusk has been public about his criticisms of the SEC since 2018, when he posted a message on social media that Tesla had secured funding to go private. A subsequent settlement reached in 2019 called for his social media communications to be monitored by company lawyers. On Monday, as reported by CNBC, attorney Alex Spiro, representing Musk and Tesla, issued a letter to a federal court stating, \"It has become clearer and clearer that the Commission [SEC] is out to retaliate against my clients for exercising their First Amendment rights.\"Also on Monday,The Wall Street Journal printed an article highlighting the regulatory approval issues and public opposition that are hindering the planned opening of Tesla's German factory.Those all sound like highly Tesla-specific issues, so they wouldn't explain why other electric car companies' stocks are down Tuesday. And Nio is also just beginning to expand into Europe. The Chinese, U.S., and European markets will all be impacted in some ways if the Russia-Ukraine conflict escalates further.Investors are generally adopting a \"risk-off\" stance as that situation continues to evolve. All of these EV makers are growth stocks carrying rich and speculative valuations. Any turbulence that could slow them along their paths to living up to those valuations will tend to reset investors' expectations, and with them, share prices. That seems to be what's occurring with Tesla, Rivian, and Nio on Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097789284,"gmtCreate":1645568760182,"gmtModify":1676534039134,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097789284","repostId":"1122018131","repostType":4,"isVote":1,"tweetType":1,"viewCount":254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097345941,"gmtCreate":1645355889417,"gmtModify":1676534021140,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097345941","repostId":"2212622457","repostType":4,"repost":{"id":"2212622457","pubTimestamp":1645322543,"share":"https://ttm.financial/m/news/2212622457?lang=&edition=fundamental","pubTime":"2022-02-20 10:02","market":"us","language":"en","title":"Death cross crystallizes in Nasdaq Composite on Friday for first time in 2 years, in a bearish sign for the stock market","url":"https://stock-news.laohu8.com/highlight/detail?id=2212622457","media":"MarketWatch","summary":"The Nasdaq Composite index has produced a \"death cross\" chart pattern on Friday, a bearish chart pat","content":"<html><head></head><body><p>The Nasdaq Composite index has produced a &#34;death cross&#34; chart pattern on Friday, a bearish chart pattern for an asset.</p><p>History suggests this occurrence could weigh on the broader stock market over the shorter term, however, it is unclear if the formation of the downbeat pattern, closely followed by market technicians, signals more pain ahead or simply affirms a downtrend that has taken shape in markets.</p><p>A death cross appears when the 50-day moving average crosses below the 200-day moving average, an event that many chart watchers view as marking the spot a shorter-term correction morphs into a longer-term downtrend.</p><p>On Friday morning, the Nasdaq Composite&#39;s 50-day moving average was at 14,710.76, while the its 200-day moving average stood at 14,740.44 (see attached chart).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3dcd09b437518341a25b40e8363c0605\" tg-width=\"700\" tg-height=\"333\" width=\"100%\" height=\"auto\"/><span>FactSet</span></p><p>The last time a death cross formed in the Nasdaq Composite was April 16, 2020, according to Dow Jones Market Data.</p><p>It is worth noting that such crosses aren&#39;t necessarily good market-timing indicators, however, as they are well telegraphed, but they can help put a selloff in historical perspective, technicians say.</p><p>U.S. stocks, and specifically once-highflying technology stocks, have been buffeted by expectations of a new regime of higher interest rates to be ushered in by the Federal Reserve as it combats surging inflation.</p><p>Concerns about military conflict in Europe also have provoked anxieties among bullish investors and driven down the value in stocks in speculative and yield-sensitive areas of the market, which makes up a large chunk of the Nasdaq Composite constituents.</p><p>On Friday, stocks ended lower, with the Nasdaq Composite down 1.2%, while the S&amp;P 500 index down 0.7% and the Dow Jones Industrial Average was trading 0.7% lower.</p><p>Neither the Dow nor the S&amp;P 500 are close to seeing death crosses. However, a death cross materialized in the small-capitalization oriented Russell 2000 index at the start of 2022, FactSet data show.</p></body></html>","source":"lsy1603348471595","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>Death cross crystallizes in Nasdaq Composite on Friday for first time in 2 years, in a bearish sign for the stock market</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\">\nDeath cross crystallizes in Nasdaq Composite on Friday for first time in 2 years, in a bearish sign for the stock market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-20 10:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/death-cross-crystallizes-in-nasdaq-composite-on-friday-for-first-time-in-2-years-in-a-bearish-sign-for-the-stock-market-11645196858?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Nasdaq Composite index has produced a \"death cross\" chart pattern on Friday, a bearish chart pattern for an asset.History suggests this occurrence could weigh on the broader stock market over the ...</p>\n\n<a href=\"https://www.marketwatch.com/story/death-cross-crystallizes-in-nasdaq-composite-on-friday-for-first-time-in-2-years-in-a-bearish-sign-for-the-stock-market-11645196858?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/death-cross-crystallizes-in-nasdaq-composite-on-friday-for-first-time-in-2-years-in-a-bearish-sign-for-the-stock-market-11645196858?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212622457","content_text":"The Nasdaq Composite index has produced a \"death cross\" chart pattern on Friday, a bearish chart pattern for an asset.History suggests this occurrence could weigh on the broader stock market over the shorter term, however, it is unclear if the formation of the downbeat pattern, closely followed by market technicians, signals more pain ahead or simply affirms a downtrend that has taken shape in markets.A death cross appears when the 50-day moving average crosses below the 200-day moving average, an event that many chart watchers view as marking the spot a shorter-term correction morphs into a longer-term downtrend.On Friday morning, the Nasdaq Composite's 50-day moving average was at 14,710.76, while the its 200-day moving average stood at 14,740.44 (see attached chart).FactSetThe last time a death cross formed in the Nasdaq Composite was April 16, 2020, according to Dow Jones Market Data.It is worth noting that such crosses aren't necessarily good market-timing indicators, however, as they are well telegraphed, but they can help put a selloff in historical perspective, technicians say.U.S. stocks, and specifically once-highflying technology stocks, have been buffeted by expectations of a new regime of higher interest rates to be ushered in by the Federal Reserve as it combats surging inflation.Concerns about military conflict in Europe also have provoked anxieties among bullish investors and driven down the value in stocks in speculative and yield-sensitive areas of the market, which makes up a large chunk of the Nasdaq Composite constituents.On Friday, stocks ended lower, with the Nasdaq Composite down 1.2%, while the S&P 500 index down 0.7% and the Dow Jones Industrial Average was trading 0.7% lower.Neither the Dow nor the S&P 500 are close to seeing death crosses. However, a death cross materialized in the small-capitalization oriented Russell 2000 index at the start of 2022, FactSet data show.","news_type":1},"isVote":1,"tweetType":1,"viewCount":232,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094534237,"gmtCreate":1645177363377,"gmtModify":1676534006058,"author":{"id":"4107422000940070","authorId":"4107422000940070","name":"MrPotatoHead","avatar":"https://community-static.tradeup.com/news/afc914e5c611feb1303a2ee90850b64e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107422000940070","authorIdStr":"4107422000940070"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094534237","repostId":"1101819811","repostType":4,"repost":{"id":"1101819811","pubTimestamp":1645170547,"share":"https://ttm.financial/m/news/1101819811?lang=&edition=fundamental","pubTime":"2022-02-18 15:49","market":"us","language":"en","title":"Tesla Plunges Seven Spots in Annual Consumer Reports Ranking","url":"https://stock-news.laohu8.com/highlight/detail?id=1101819811","media":"CNN Business","summary":"(CNN)Consumer Reports took a decidedly more negative view of Tesla in this year's rankings of vehicl","content":"<html><head></head><body><p>(CNN)Consumer Reports took a decidedly more negative view of Tesla in this year&#39;s rankings of vehicles.</p><p>The Model 3, which had been its top pick among EV models, lost that distinction to the Ford Mustang Mach-E. The Model 3 now has the third best ranking among EVs, behind the Mach-E and the Kia Niro.</p><p>Tesla plunged seven spots to No. 23 in the overall ranking of best car brands. The drop was mainly due to the difficult-to-use yoke steering wheel the automaker recently debuted on the updated version of those models. Consumer Reports said the steering wheel was enough of a problem to lower their road-test scores.</p><p>The Model 3 remains the lone Tesla model that is CR recommended. Tesla also makes the Model Y small SUV, Model X large SUV, and Model S large sedan.</p><p>&#34;Make no mistake, the Model 3 is still a great choice, and Consumer Reports recommends it,&#34; said its article on rankings. &#34;It shines with the latest technology, a long range, an impressive charging network, and a driving experience closer to a high-performance sports car than a sedan. But the Mustang Mach-E is also very sporty, plus it&#39;s more practical and easier to live with. The Ford is also quieter and rides better.&#34;</p><p>Consumer Reports had once been among Tesla&#39;s biggest fans. It judged the Tesla Model S as the best car it ever tested when the product-testing publication first reviewed it in 2013 with a score of more than 100.</p><p>But questions about reliability, based on ownership surveys, hurt the car&#39;s rankings in the not-for-profit rating services&#39; rankings and scores for Tesla.</p><p>The Mach-E has been winning critical praise elsewhere as well, including Car and Driver&#39;s first EV of the Year award last year. It actually had a slightly lower score than the Kia Niro in Consumer Reports&#39; rankings of vehicles, but spokesperson James McQueen said the top pick in each category is based on numerous factors beyond the straight score.</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 Plunges Seven Spots in Annual Consumer Reports Ranking</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 Plunges Seven Spots in Annual Consumer Reports Ranking\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-18 15:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2022/02/17/cars/tesla-consumer-reports-drop/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(CNN)Consumer Reports took a decidedly more negative view of Tesla in this year's rankings of vehicles.The Model 3, which had been its top pick among EV models, lost that distinction to the Ford ...</p>\n\n<a href=\"https://edition.cnn.com/2022/02/17/cars/tesla-consumer-reports-drop/index.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://edition.cnn.com/2022/02/17/cars/tesla-consumer-reports-drop/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101819811","content_text":"(CNN)Consumer Reports took a decidedly more negative view of Tesla in this year's rankings of vehicles.The Model 3, which had been its top pick among EV models, lost that distinction to the Ford Mustang Mach-E. The Model 3 now has the third best ranking among EVs, behind the Mach-E and the Kia Niro.Tesla plunged seven spots to No. 23 in the overall ranking of best car brands. The drop was mainly due to the difficult-to-use yoke steering wheel the automaker recently debuted on the updated version of those models. Consumer Reports said the steering wheel was enough of a problem to lower their road-test scores.The Model 3 remains the lone Tesla model that is CR recommended. Tesla also makes the Model Y small SUV, Model X large SUV, and Model S large sedan.\"Make no mistake, the Model 3 is still a great choice, and Consumer Reports recommends it,\" said its article on rankings. \"It shines with the latest technology, a long range, an impressive charging network, and a driving experience closer to a high-performance sports car than a sedan. But the Mustang Mach-E is also very sporty, plus it's more practical and easier to live with. The Ford is also quieter and rides better.\"Consumer Reports had once been among Tesla's biggest fans. It judged the Tesla Model S as the best car it ever tested when the product-testing publication first reviewed it in 2013 with a score of more than 100.But questions about reliability, based on ownership surveys, hurt the car's rankings in the not-for-profit rating services' rankings and scores for Tesla.The Mach-E has been winning critical praise elsewhere as well, including Car and Driver's first EV of the Year award last year. It actually had a slightly lower score than the Kia Niro in Consumer Reports' rankings of vehicles, but spokesperson James McQueen said the top pick in each category is based on numerous factors beyond the straight score.","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}