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11-12

Good night fellows MN

11-11

Great article

大行评级｜瑞银：上调谷歌目标价至192美元上调2025及26年每股盈测

09-29

Gurun kedah

09-29

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09-29

AI is Greate

Commentary: AI is entering a whole new dimension

09-23

To the moon

09-20

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08-01

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And honestly, I have no one to blame but the person looking back in the mirror.Technically, I guess all of these AI discussions are making me a more informed journalist, leader, and human being.But sometimes listening to what people deep in the weeds are doing in AI sound like a completely different language. Think Martians speaking on Pluto. And the lingo and development of AI tools and products are moving at a speed multiples faster compared to my last West Coast venture in September 2023.\"I think over the next few years and maybe decades, almost every company will be hit with some kind of innovator's dilemma in that the way they used to make revenue is going to change because a lot of their processes are going to get automated with AI. And that just changes the nature of the work that you're doing. You need to stop thinking about almost any repetitive process. E","content":"<html><body><p><strong><em>This is The Takeaway from today's Morning Brief, which you can </em></strong><strong><em>sign up</em></strong><strong><em> to receive in your inbox every morning along with:</em></strong></p>\n<ul>\n<li><p><strong><em>The chart of the day</em></strong></p></li>\n<li><p><strong><em>What we're watching</em></strong></p></li>\n<li><p><strong><em>What we're reading</em></strong></p></li>\n<li><p><strong><em>Economic data releases and earnings</em></strong></p></li>\n</ul>\n<p>I feel like I have gotten dumber each day of September. </p>\n<p>And honestly, I have no one to blame but the person looking back in the mirror. </p>\n<p>I have mostly spent the month on the West Coast ingesting the latest advances in artificial intelligence. First at the Goldman Sachs Communacopia conference, then Salesforce's (CRM) annual Dreamforce extravaganza, and currently with AI chats on Yahoo Finance's Opening Bid podcast (now stationed at the Nasdaq). I'll toss in a Netflix event I went to Thursday night where Microsoft (MSFT) co-founder Bill Gates talked for an hour, mostly on AI and the future of the world. </p>\n<p>Technically, <em>I guess</em> all of these AI discussions are making me a more informed journalist, leader, and human being. </p>\n<p>But sometimes listening to what people deep in the weeds are doing in AI sound like a completely different language. Think Martians speaking on Pluto. And the lingo and development of AI tools and products are moving at a speed multiples faster compared to my last West Coast venture in September 2023.</p>\n<p>Hard to keep up and not think you have an IQ of 75!</p>\n<p>It already feels like I am way behind the curve on understanding the next wave of AI — and that's alarming because 1) there's potential for at least five more waves to hit civilization; 2) the average person on the street unlikely realizes how their very way of life is about to be affected by an AI-powered agent or some other piece of technology. </p>\n<figure>\n<img src=\"https://s.yimg.com/os/creatr-uploaded-images/2024-09/44ccb980-7cbf-11ef-a6db-03ef639909dc\"/>\n<figcaption>\n  Bill Gates dives into the future of the world at a Netflix event on Thursday alongside journalist Kara Swisher.\n </figcaption>\n<div>\n  Brian Sozzi\n </div>\n</figure>\n<p>We saw that firsthand with the new AI functionality Meta (META) and OpenAI showed off this week for their various products. This was a series of wow moments. </p>\n<p>Bill Gates proceeded to tell a packed theater that AI will soon become \"superior\" at \"very profound\" tasks. Reassuring!</p>\n<p>I also experienced it up close and personal with a real nice German fella named Richard Socher on Opening Bid (video above). </p>\n<p>Never heard of the 41-year-old Socher? You should be following his work at search engine You.com, a company he founded. He was the first chief scientist at Salesforce (CEO Marc Benioff was an early backer of You.gov), and he eats, sleeps, and breathes AI.</p>\n<p>The company is now valued at close to $1 billion after an investment led by Nvidia (NVDA). </p>\n<p>Here are a couple of quotes from Socher that left an impression:</p>\n<p><em>\"I think over the next few years and maybe decades, almost every company will be hit with some kind of innovator's dilemma in that the way they used to make revenue is going to change because a lot of their processes are going to get automated with AI. And that just changes the nature of the work that you're doing. You need to stop thinking about almost any repetitive process. Every time you feel like, oh, I've done this before, I'm just going through these steps, you should be giving those as a prompt to an agent and then get an accurate AI agent.\"</em></p>\n<p><em>\"I think actually in the next few years, we're probably going to see more and more AI agents surfing the web for you than we have people surfing the web, which will change the web as we know it too, and how it often monetizes. But it basically means that a lot of people will get access to their own personal assistant in the way only really wealthy people have right now.\"</em></p>\n<p>You may be wondering what this all means to you, the investor. </p>\n<p>Here are a few notes from me on that front before you go:</p>\n<ul>\n<li><p>2025 is going to be one hell of a year for Nvidia and AMD (AMD). The demand for AI chips only seems to be strengthening. What that means for struggling Intel (INTC), well...</p></li>\n<li><p>This coming earnings season, listen for executives at companies you invest in outline cost-cutting moves by using AI. If you hear crickets, it could be a signal the company doesn't have a great AI strategy in place and risks getting left behind. </p></li>\n<li><p>Today is the day to buy three books on AI to understand the lingo and possibilities — and then think critically on how the technology could be applied to investments you are eying. </p></li>\n</ul>\n<p><strong>Three times each week, I field insight-filled conversations with the biggest names in business and markets on</strong><strong> Opening Bid</strong><strong>. Find more episodes on our</strong><strong> video hub</strong><strong>. Watch on your</strong><strong> preferred streaming service</strong><strong>. Or listen and subscribe on</strong><strong> Apple Podcasts</strong><strong>,</strong><strong> Spotify</strong><strong>, or wherever you find your favorite podcasts.</strong></p>\n<p>In the below Opening Bid episode, early You.com backer and Salesforce (CRM) CEO Marc Benioff shares his views on how AI will shape the business world. </p>\n<div></div>\n<p><em>Brian Sozzi</em><em> is Yahoo Finance's Executive Editor. Follow Sozzi on X </em><em>@BrianSozzi</em><em> and on </em><em>LinkedIn</em><em>. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.</em></p>\n<p><strong>Click here for the latest technology news that will impact the stock market</strong></p>\n<p><strong>Read the latest financial and business news from Yahoo Finance</strong></p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Commentary: AI is entering a whole new dimension</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\">\nCommentary: AI is entering a whole new dimension\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-29 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/commentary-ai-is-entering-a-whole-new-dimension-123026020.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with:\n\nThe chart of the day\nWhat we're watching\nWhat we're reading\nEconomic data ...</p>\n\n<a href=\"https://finance.yahoo.com/news/commentary-ai-is-entering-a-whole-new-dimension-123026020.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/IjkzZ4Ypin10Rnxk3zqW5g--~B/aD0yMzMzO3c9MzUwMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-09/34f61840-7c3c-11ef-bbdb-127445fc1261","relate_stocks":{"IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","3NVD.UK":"LS 3X NVIDIA","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","BK4516":"特朗普概念","NVDA":"英伟达","2NVD.UK":"2X NVIDIA ETP","L":"洛斯公司","CRM":"赛富时","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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First at the Goldman Sachs Communacopia conference, then Salesforce's (CRM) annual Dreamforce extravaganza, and currently with AI chats on Yahoo Finance's Opening Bid podcast (now stationed at the Nasdaq). I'll toss in a Netflix event I went to Thursday night where Microsoft (MSFT) co-founder Bill Gates talked for an hour, mostly on AI and the future of the world. \nTechnically, I guess all of these AI discussions are making me a more informed journalist, leader, and human being. \nBut sometimes listening to what people deep in the weeds are doing in AI sound like a completely different language. Think Martians speaking on Pluto. And the lingo and development of AI tools and products are moving at a speed multiples faster compared to my last West Coast venture in September 2023.\nHard to keep up and not think you have an IQ of 75!\nIt already feels like I am way behind the curve on understanding the next wave of AI — and that's alarming because 1) there's potential for at least five more waves to hit civilization; 2) the average person on the street unlikely realizes how their very way of life is about to be affected by an AI-powered agent or some other piece of technology. \n\n\n\n  Bill Gates dives into the future of the world at a Netflix event on Thursday alongside journalist Kara Swisher.\n \n\n  Brian Sozzi\n \n\nWe saw that firsthand with the new AI functionality Meta (META) and OpenAI showed off this week for their various products. This was a series of wow moments. \nBill Gates proceeded to tell a packed theater that AI will soon become \"superior\" at \"very profound\" tasks. Reassuring!\nI also experienced it up close and personal with a real nice German fella named Richard Socher on Opening Bid (video above). \nNever heard of the 41-year-old Socher? You should be following his work at search engine You.com, a company he founded. He was the first chief scientist at Salesforce (CEO Marc Benioff was an early backer of You.gov), and he eats, sleeps, and breathes AI.\nThe company is now valued at close to $1 billion after an investment led by Nvidia (NVDA). \nHere are a couple of quotes from Socher that left an impression:\n\"I think over the next few years and maybe decades, almost every company will be hit with some kind of innovator's dilemma in that the way they used to make revenue is going to change because a lot of their processes are going to get automated with AI. And that just changes the nature of the work that you're doing. You need to stop thinking about almost any repetitive process. Every time you feel like, oh, I've done this before, I'm just going through these steps, you should be giving those as a prompt to an agent and then get an accurate AI agent.\"\n\"I think actually in the next few years, we're probably going to see more and more AI agents surfing the web for you than we have people surfing the web, which will change the web as we know it too, and how it often monetizes. But it basically means that a lot of people will get access to their own personal assistant in the way only really wealthy people have right now.\"\nYou may be wondering what this all means to you, the investor. \nHere are a few notes from me on that front before you go:\n\n2025 is going to be one hell of a year for Nvidia and AMD (AMD). The demand for AI chips only seems to be strengthening. What that means for struggling Intel (INTC), well...\nThis coming earnings season, listen for executives at companies you invest in outline cost-cutting moves by using AI. If you hear crickets, it could be a signal the company doesn't have a great AI strategy in place and risks getting left behind. \nToday is the day to buy three books on AI to understand the lingo and possibilities — and then think critically on how the technology could be applied to investments you are eying. \n\nThree times each week, I field insight-filled conversations with the biggest names in business and markets on Opening Bid. Find more episodes on our video hub. Watch on your preferred streaming service. Or listen and subscribe on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.\nIn the below Opening Bid episode, early You.com backer and Salesforce (CRM) CEO Marc Benioff shares his views on how AI will shape the business world. \n\nBrian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.\nClick here for the latest technology news that will impact the stock market\nRead the latest financial and business news from Yahoo Finance","news_type":1},"isVote":1,"tweetType":1,"viewCount":272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352548683051224,"gmtCreate":1727090234191,"gmtModify":1727096016357,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"To the moon","listText":"To the moon","text":"To the moon","images":[{"img":"https://community-static.tradeup.com/news/cde75598cef25fb2177b9e1b751d3ffc","width":"652","height":"832"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/352548683051224","isVote":1,"tweetType":1,"viewCount":104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":351431921565816,"gmtCreate":1726820385953,"gmtModify":1726821580258,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"Love it","listText":"Love it","text":"Love it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351431921565816","repostId":"2468617306","repostType":2,"repost":{"id":"2468617306","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":1726810041,"share":"https://ttm.financial/m/news/2468617306?lang=&edition=fundamental","pubTime":"2024-09-20 13:27","market":"hk","language":"en","title":"The Mag 7 Is Making It Tough to Be an Active Fund Manager","url":"https://stock-news.laohu8.com/highlight/detail?id=2468617306","media":"Dow Jones","summary":"About the author:  Harvey D. Shapiro is a financial writer and consultant based in New York.This time was supposed to be different. This was going to be a stockpickers' market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.OK, you say, but all that's a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks . Collectively, the average return for these five was nearly 50% in 2017, compared with the S&P 500 return of 21.8%. The FAANGs came to make up more th","content":"<html><head></head><body><p>This time was supposed to be different. This was going to be a stockpickers&#39; market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.</p><p>The efficient-market crowd says -- of course -- that most managers can&#39;t beat the market. But there&#39;s also an unappreciated structural problem dooming active managers these days: We have been in a period of &#34;narrow markets&#34; in which a few stocks -- the Magnificent Seven, or Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Facebook parent <a href=\"https://laohu8.com/S/META\">Meta Platforms</a>, and Tesla -- account for the lion&#39;s share of market gains. So, any manager who develops a well-diversified portfolio of stocks -- and that, after all, is what most managers are hired to do -- is inevitably doomed to underperform because many of the holdings beyond the Magnificent Seven can only drag down performance.</p><p>According to Morningstar, during the first half of 2024, only 18.2% of actively managed mutual funds and exchange-traded funds that have the cap-weighted S&amp;P 500 index as a benchmark outperformed it. That&#39;s down from the 19.8% for all of 2023. Over the past decade, an annual average of only 27.1% of actively managed funds benchmarked to the S&amp;P 500 outperformed it.</p><p>The prospects for active managers were particularly handicapped in the first half of this year because the Magnificent Seven accounted for nearly 60% of the total return on the S&amp;P 500. Those seven stocks also accounted for more than half of the S&amp;P 500 performance in 2023. Their outperformance means they have grown to represent some 30% of the total S&amp;P 500 market capitalization. New York Magazine called this &#34;the greatest concentration of capital in the smallest number of companies in the history of the U.S. stock market.&#34;</p><p>If you ran a concentrated portfolio, and if you held all seven, you&#39;d be riding high. But most managers have a diversified portfolio in which no single stock typically can constitute more than 5% of the portfolio. That means if, by dint of wisdom or luck, you acquired your full allotment of the Magnificent Seven, that would only account for 35% (seven times 5%) of your portfolio. The other 65% would have to be made up of less-stellar performers, with many dragging down the overall results.</p><p>OK, you say, but all that&#39;s a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google). Collectively, the average return for these five was nearly 50% in 2017, compared with the S&amp;P 500 return of 21.8%. The FAANGs came to make up more than 10% of the S&amp;P 500 market cap and accounted for 4.3 percentage points of the overall market&#39;s 21.8% return in 2017. During 2020, the FAANG stocks surged to 20% of the index&#39;s total market cap, the highest concentration in the S&amp;P 500&#39;s history -- until now.</p><p>And before the Magnificent Seven and the FAANGs, there were narrow markets in the late 1990s: The &#34;Four Horsemen&#34; -- Microsoft, Cisco, Oracle, and Intel -- led the market higher during the tech boom of the late 1990s. In 1999, these four plus Dell Technologies accounted for some 42% of the run-up in the total market value of all 500 companies. Going back a half-century, while there were thousands of listed stocks, the &#34;Nifty Fifty&#34; -- names like Sears, Eastman Kodak, and Polaroid -- were among a small cadre of stocks generating disproportionate returns.</p><p>It turns out that narrow markets aren&#39;t new or temporary or unusual. Professor Hendrik Bessembinder of Arizona State University has evaluated lifetime returns for every U.S. common stock traded on the New York and American Stock Exchanges and Nasdaq for the 90 years since 1926. He found that just 86 stocks accounted for half of the total stock market wealth creation over this 90-year period. Meanwhile, less than half of the stocks in the universe generated any returns for investors, and only 42% earned more than risk-free Treasuries over the entire period. Put another way, less than 4% of the thousands of stocks in this universe accounted for virtually all of the market gains.</p><p>The prevalence of narrow markets suggests that building out a typical institutional portfolio of 80 to 100 stocks may inevitably diminish rather than enhance returns. But most managers know they need to present a widely diversified portfolio with dozens of names in it because a &#34;concentrated portfolio&#34; is a specialized product seen as too risky by most investors.</p><p>Some active managers have been notorious for closet indexing -- creating portfolios that almost, but not quite, mirror the S&amp;P 500, thus guaranteeing that results that will never depart too much from their benchmark. But how can you build a closet narrow-markets portfolio? You could offer a concentrated portfolio, composed of, say, 25 stocks, and if you get most of the Magnificent Seven, or whatever group is the elephant in the room at that moment, you&#39;ll do well. But that&#39;s a big market risk -- and a big marketing risk.</p><p>In short, as long as markets are narrow, stockpickers have a daunting task.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Mag 7 Is Making It Tough to Be an Active Fund Manager</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Mag 7 Is Making It Tough to Be an Active Fund Manager\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\">2024-09-20 13:27</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>This time was supposed to be different. This was going to be a stockpickers&#39; market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.</p><p>The efficient-market crowd says -- of course -- that most managers can&#39;t beat the market. But there&#39;s also an unappreciated structural problem dooming active managers these days: We have been in a period of &#34;narrow markets&#34; in which a few stocks -- the Magnificent Seven, or Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Facebook parent <a href=\"https://laohu8.com/S/META\">Meta Platforms</a>, and Tesla -- account for the lion&#39;s share of market gains. So, any manager who develops a well-diversified portfolio of stocks -- and that, after all, is what most managers are hired to do -- is inevitably doomed to underperform because many of the holdings beyond the Magnificent Seven can only drag down performance.</p><p>According to Morningstar, during the first half of 2024, only 18.2% of actively managed mutual funds and exchange-traded funds that have the cap-weighted S&amp;P 500 index as a benchmark outperformed it. That&#39;s down from the 19.8% for all of 2023. Over the past decade, an annual average of only 27.1% of actively managed funds benchmarked to the S&amp;P 500 outperformed it.</p><p>The prospects for active managers were particularly handicapped in the first half of this year because the Magnificent Seven accounted for nearly 60% of the total return on the S&amp;P 500. Those seven stocks also accounted for more than half of the S&amp;P 500 performance in 2023. Their outperformance means they have grown to represent some 30% of the total S&amp;P 500 market capitalization. New York Magazine called this &#34;the greatest concentration of capital in the smallest number of companies in the history of the U.S. stock market.&#34;</p><p>If you ran a concentrated portfolio, and if you held all seven, you&#39;d be riding high. But most managers have a diversified portfolio in which no single stock typically can constitute more than 5% of the portfolio. That means if, by dint of wisdom or luck, you acquired your full allotment of the Magnificent Seven, that would only account for 35% (seven times 5%) of your portfolio. The other 65% would have to be made up of less-stellar performers, with many dragging down the overall results.</p><p>OK, you say, but all that&#39;s a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google). Collectively, the average return for these five was nearly 50% in 2017, compared with the S&amp;P 500 return of 21.8%. The FAANGs came to make up more than 10% of the S&amp;P 500 market cap and accounted for 4.3 percentage points of the overall market&#39;s 21.8% return in 2017. During 2020, the FAANG stocks surged to 20% of the index&#39;s total market cap, the highest concentration in the S&amp;P 500&#39;s history -- until now.</p><p>And before the Magnificent Seven and the FAANGs, there were narrow markets in the late 1990s: The &#34;Four Horsemen&#34; -- Microsoft, Cisco, Oracle, and Intel -- led the market higher during the tech boom of the late 1990s. In 1999, these four plus Dell Technologies accounted for some 42% of the run-up in the total market value of all 500 companies. Going back a half-century, while there were thousands of listed stocks, the &#34;Nifty Fifty&#34; -- names like Sears, Eastman Kodak, and Polaroid -- were among a small cadre of stocks generating disproportionate returns.</p><p>It turns out that narrow markets aren&#39;t new or temporary or unusual. Professor Hendrik Bessembinder of Arizona State University has evaluated lifetime returns for every U.S. common stock traded on the New York and American Stock Exchanges and Nasdaq for the 90 years since 1926. He found that just 86 stocks accounted for half of the total stock market wealth creation over this 90-year period. Meanwhile, less than half of the stocks in the universe generated any returns for investors, and only 42% earned more than risk-free Treasuries over the entire period. Put another way, less than 4% of the thousands of stocks in this universe accounted for virtually all of the market gains.</p><p>The prevalence of narrow markets suggests that building out a typical institutional portfolio of 80 to 100 stocks may inevitably diminish rather than enhance returns. But most managers know they need to present a widely diversified portfolio with dozens of names in it because a &#34;concentrated portfolio&#34; is a specialized product seen as too risky by most investors.</p><p>Some active managers have been notorious for closet indexing -- creating portfolios that almost, but not quite, mirror the S&amp;P 500, thus guaranteeing that results that will never depart too much from their benchmark. But how can you build a closet narrow-markets portfolio? You could offer a concentrated portfolio, composed of, say, 25 stocks, and if you get most of the Magnificent Seven, or whatever group is the elephant in the room at that moment, you&#39;ll do well. But that&#39;s a big market risk -- and a big marketing risk.</p><p>In short, as long as markets are narrow, stockpickers have a daunting task.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VOO":"Vanguard标普500ETF","SPXU":"三倍做空标普500ETF","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","TSLA":"特斯拉","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","NVDA":"英伟达","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","GOOG":"谷歌","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","AMZN":"亚马逊","BK4554":"元宇宙及AR概念","SPY":"标普500ETF","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD",".SPX":"S&P 500 Index","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","OEX":"标普100","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","META":"Meta Platforms, Inc.","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","OEF":"标普100指数ETF-iShares","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","SDS":"两倍做空标普500ETF","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","CSCO":"思科","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0238689110.USD":"贝莱德环球动力股票基金","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","AAPL":"苹果","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","MSFT":"微软","GOOGL":"谷歌A","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0082616367.USD":"摩根大通美国科技A（dist）","SH":"标普500反向ETF","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","SSO":"两倍做多标普500ETF","BK4077":"互动媒体与服务","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IVV":"标普500指数ETF"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2468617306","content_text":"This time was supposed to be different. This was going to be a stockpickers' market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.The efficient-market crowd says -- of course -- that most managers can't beat the market. But there's also an unappreciated structural problem dooming active managers these days: We have been in a period of \"narrow markets\" in which a few stocks -- the Magnificent Seven, or Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Facebook parent Meta Platforms, and Tesla -- account for the lion's share of market gains. So, any manager who develops a well-diversified portfolio of stocks -- and that, after all, is what most managers are hired to do -- is inevitably doomed to underperform because many of the holdings beyond the Magnificent Seven can only drag down performance.According to Morningstar, during the first half of 2024, only 18.2% of actively managed mutual funds and exchange-traded funds that have the cap-weighted S&P 500 index as a benchmark outperformed it. That's down from the 19.8% for all of 2023. Over the past decade, an annual average of only 27.1% of actively managed funds benchmarked to the S&P 500 outperformed it.The prospects for active managers were particularly handicapped in the first half of this year because the Magnificent Seven accounted for nearly 60% of the total return on the S&P 500. Those seven stocks also accounted for more than half of the S&P 500 performance in 2023. Their outperformance means they have grown to represent some 30% of the total S&P 500 market capitalization. New York Magazine called this \"the greatest concentration of capital in the smallest number of companies in the history of the U.S. stock market.\"If you ran a concentrated portfolio, and if you held all seven, you'd be riding high. But most managers have a diversified portfolio in which no single stock typically can constitute more than 5% of the portfolio. That means if, by dint of wisdom or luck, you acquired your full allotment of the Magnificent Seven, that would only account for 35% (seven times 5%) of your portfolio. The other 65% would have to be made up of less-stellar performers, with many dragging down the overall results.OK, you say, but all that's a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google). Collectively, the average return for these five was nearly 50% in 2017, compared with the S&P 500 return of 21.8%. The FAANGs came to make up more than 10% of the S&P 500 market cap and accounted for 4.3 percentage points of the overall market's 21.8% return in 2017. During 2020, the FAANG stocks surged to 20% of the index's total market cap, the highest concentration in the S&P 500's history -- until now.And before the Magnificent Seven and the FAANGs, there were narrow markets in the late 1990s: The \"Four Horsemen\" -- Microsoft, Cisco, Oracle, and Intel -- led the market higher during the tech boom of the late 1990s. In 1999, these four plus Dell Technologies accounted for some 42% of the run-up in the total market value of all 500 companies. Going back a half-century, while there were thousands of listed stocks, the \"Nifty Fifty\" -- names like Sears, Eastman Kodak, and Polaroid -- were among a small cadre of stocks generating disproportionate returns.It turns out that narrow markets aren't new or temporary or unusual. Professor Hendrik Bessembinder of Arizona State University has evaluated lifetime returns for every U.S. common stock traded on the New York and American Stock Exchanges and Nasdaq for the 90 years since 1926. He found that just 86 stocks accounted for half of the total stock market wealth creation over this 90-year period. Meanwhile, less than half of the stocks in the universe generated any returns for investors, and only 42% earned more than risk-free Treasuries over the entire period. Put another way, less than 4% of the thousands of stocks in this universe accounted for virtually all of the market gains.The prevalence of narrow markets suggests that building out a typical institutional portfolio of 80 to 100 stocks may inevitably diminish rather than enhance returns. But most managers know they need to present a widely diversified portfolio with dozens of names in it because a \"concentrated portfolio\" is a specialized product seen as too risky by most investors.Some active managers have been notorious for closet indexing -- creating portfolios that almost, but not quite, mirror the S&P 500, thus guaranteeing that results that will never depart too much from their benchmark. But how can you build a closet narrow-markets portfolio? You could offer a concentrated portfolio, composed of, say, 25 stocks, and if you get most of the Magnificent Seven, or whatever group is the elephant in the room at that moment, you'll do well. But that's a big market risk -- and a big marketing risk.In short, as long as markets are narrow, stockpickers have a daunting task.","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":333740896436312,"gmtCreate":1722508040364,"gmtModify":1722508232132,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/333740896436312","repostId":"2456145969","repostType":2,"repost":{"id":"2456145969","weMediaInfo":{"introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"media_name":"MT Newswires","id":"1060499803","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"pubTimestamp":1722478927,"share":"https://ttm.financial/m/news/2456145969?lang=&edition=fundamental","pubTime":"2024-08-01 10:22","market":"sg","language":"en","title":"Keppel DC REIT Completes Tokyo Data Centre Acquisition","url":"https://stock-news.laohu8.com/highlight/detail?id=2456145969","media":"MT Newswires","summary":"Keppel DC REIT Management, the manager of Keppel DC REIT , has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.Price : S$2.05, Change: S$+0.03, Percent Change: +1.49%","content":"<html><body><p> Keppel DC REIT Management, the manager of Keppel DC REIT (SGX:AJBU), has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.</p><p>The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.</p><p>The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.</p><p>Price (SGD): S$2.05, Change: S$+0.03, Percent Change: +1.49%</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>Keppel DC REIT Completes Tokyo Data Centre Acquisition</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{ 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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\">\nKeppel DC REIT Completes Tokyo Data Centre Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1060499803\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires </p>\n<p class=\"h-time\">2024-08-01 10:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Keppel DC REIT Management, the manager of Keppel DC REIT (SGX:AJBU), has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.</p><p>The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.</p><p>The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.</p><p>Price (SGD): S$2.05, Change: S$+0.03, Percent Change: +1.49%</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SG9999013460.SGD":"LionGlobal Singapore Dividend Equity Fund SGD","BK6523":"ESG概念","SG9999013478.USD":"利安新加坡股息基金","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","BK6505":"周期性消费品与消费者服务","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","CFA.SI":"NikkoAM-STC Asia REIT","SG9999001135.SGD":"United ASEAN Fund SGD","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","SG9999014302.SGD":"RHB Singapore Income Fund SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC","BK6131":"数据中心房地产信托","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","SGXZ43160589.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) ACC","SGXZ24219693.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) INC","BK6111":"工业集团企业","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","SG9999016042.SGD":"Schroder Singapore Trust A Acc SGD","BK6512":"房地产股","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","SGXZ58947870.SGD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","SG9999001127.SGD":"United Singapore Growth Fund SGD","BK6014":"特种房地产投资信托","AJBU.SI":"吉宝数据中心房地产信托","BN4.SI":"吉宝有限公司","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD"},"source_url":"https://www.mtnewswires.com/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2456145969","content_text":"Keppel DC REIT Management, the manager of Keppel DC REIT (SGX:AJBU), has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.Price (SGD): S$2.05, Change: S$+0.03, Percent Change: +1.49%","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":351431921565816,"gmtCreate":1726820385953,"gmtModify":1726821580258,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"Love it","listText":"Love it","text":"Love it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/351431921565816","repostId":"2468617306","repostType":2,"repost":{"id":"2468617306","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":1726810041,"share":"https://ttm.financial/m/news/2468617306?lang=&edition=fundamental","pubTime":"2024-09-20 13:27","market":"hk","language":"en","title":"The Mag 7 Is Making It Tough to Be an Active Fund Manager","url":"https://stock-news.laohu8.com/highlight/detail?id=2468617306","media":"Dow Jones","summary":"About the author:  Harvey D. Shapiro is a financial writer and consultant based in New York.This time was supposed to be different. This was going to be a stockpickers' market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.OK, you say, but all that's a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks . Collectively, the average return for these five was nearly 50% in 2017, compared with the S&P 500 return of 21.8%. The FAANGs came to make up more th","content":"<html><head></head><body><p>This time was supposed to be different. This was going to be a stockpickers&#39; market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.</p><p>The efficient-market crowd says -- of course -- that most managers can&#39;t beat the market. But there&#39;s also an unappreciated structural problem dooming active managers these days: We have been in a period of &#34;narrow markets&#34; in which a few stocks -- the Magnificent Seven, or Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Facebook parent <a href=\"https://laohu8.com/S/META\">Meta Platforms</a>, and Tesla -- account for the lion&#39;s share of market gains. So, any manager who develops a well-diversified portfolio of stocks -- and that, after all, is what most managers are hired to do -- is inevitably doomed to underperform because many of the holdings beyond the Magnificent Seven can only drag down performance.</p><p>According to Morningstar, during the first half of 2024, only 18.2% of actively managed mutual funds and exchange-traded funds that have the cap-weighted S&amp;P 500 index as a benchmark outperformed it. That&#39;s down from the 19.8% for all of 2023. Over the past decade, an annual average of only 27.1% of actively managed funds benchmarked to the S&amp;P 500 outperformed it.</p><p>The prospects for active managers were particularly handicapped in the first half of this year because the Magnificent Seven accounted for nearly 60% of the total return on the S&amp;P 500. Those seven stocks also accounted for more than half of the S&amp;P 500 performance in 2023. Their outperformance means they have grown to represent some 30% of the total S&amp;P 500 market capitalization. New York Magazine called this &#34;the greatest concentration of capital in the smallest number of companies in the history of the U.S. stock market.&#34;</p><p>If you ran a concentrated portfolio, and if you held all seven, you&#39;d be riding high. But most managers have a diversified portfolio in which no single stock typically can constitute more than 5% of the portfolio. That means if, by dint of wisdom or luck, you acquired your full allotment of the Magnificent Seven, that would only account for 35% (seven times 5%) of your portfolio. The other 65% would have to be made up of less-stellar performers, with many dragging down the overall results.</p><p>OK, you say, but all that&#39;s a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google). Collectively, the average return for these five was nearly 50% in 2017, compared with the S&amp;P 500 return of 21.8%. The FAANGs came to make up more than 10% of the S&amp;P 500 market cap and accounted for 4.3 percentage points of the overall market&#39;s 21.8% return in 2017. During 2020, the FAANG stocks surged to 20% of the index&#39;s total market cap, the highest concentration in the S&amp;P 500&#39;s history -- until now.</p><p>And before the Magnificent Seven and the FAANGs, there were narrow markets in the late 1990s: The &#34;Four Horsemen&#34; -- Microsoft, Cisco, Oracle, and Intel -- led the market higher during the tech boom of the late 1990s. In 1999, these four plus Dell Technologies accounted for some 42% of the run-up in the total market value of all 500 companies. Going back a half-century, while there were thousands of listed stocks, the &#34;Nifty Fifty&#34; -- names like Sears, Eastman Kodak, and Polaroid -- were among a small cadre of stocks generating disproportionate returns.</p><p>It turns out that narrow markets aren&#39;t new or temporary or unusual. Professor Hendrik Bessembinder of Arizona State University has evaluated lifetime returns for every U.S. common stock traded on the New York and American Stock Exchanges and Nasdaq for the 90 years since 1926. He found that just 86 stocks accounted for half of the total stock market wealth creation over this 90-year period. Meanwhile, less than half of the stocks in the universe generated any returns for investors, and only 42% earned more than risk-free Treasuries over the entire period. Put another way, less than 4% of the thousands of stocks in this universe accounted for virtually all of the market gains.</p><p>The prevalence of narrow markets suggests that building out a typical institutional portfolio of 80 to 100 stocks may inevitably diminish rather than enhance returns. But most managers know they need to present a widely diversified portfolio with dozens of names in it because a &#34;concentrated portfolio&#34; is a specialized product seen as too risky by most investors.</p><p>Some active managers have been notorious for closet indexing -- creating portfolios that almost, but not quite, mirror the S&amp;P 500, thus guaranteeing that results that will never depart too much from their benchmark. But how can you build a closet narrow-markets portfolio? You could offer a concentrated portfolio, composed of, say, 25 stocks, and if you get most of the Magnificent Seven, or whatever group is the elephant in the room at that moment, you&#39;ll do well. But that&#39;s a big market risk -- and a big marketing risk.</p><p>In short, as long as markets are narrow, stockpickers have a daunting task.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Mag 7 Is Making It Tough to Be an Active Fund Manager</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Mag 7 Is Making It Tough to Be an Active Fund Manager\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\">2024-09-20 13:27</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>This time was supposed to be different. This was going to be a stockpickers&#39; market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.</p><p>The efficient-market crowd says -- of course -- that most managers can&#39;t beat the market. But there&#39;s also an unappreciated structural problem dooming active managers these days: We have been in a period of &#34;narrow markets&#34; in which a few stocks -- the Magnificent Seven, or Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Facebook parent <a href=\"https://laohu8.com/S/META\">Meta Platforms</a>, and Tesla -- account for the lion&#39;s share of market gains. So, any manager who develops a well-diversified portfolio of stocks -- and that, after all, is what most managers are hired to do -- is inevitably doomed to underperform because many of the holdings beyond the Magnificent Seven can only drag down performance.</p><p>According to Morningstar, during the first half of 2024, only 18.2% of actively managed mutual funds and exchange-traded funds that have the cap-weighted S&amp;P 500 index as a benchmark outperformed it. That&#39;s down from the 19.8% for all of 2023. Over the past decade, an annual average of only 27.1% of actively managed funds benchmarked to the S&amp;P 500 outperformed it.</p><p>The prospects for active managers were particularly handicapped in the first half of this year because the Magnificent Seven accounted for nearly 60% of the total return on the S&amp;P 500. Those seven stocks also accounted for more than half of the S&amp;P 500 performance in 2023. Their outperformance means they have grown to represent some 30% of the total S&amp;P 500 market capitalization. New York Magazine called this &#34;the greatest concentration of capital in the smallest number of companies in the history of the U.S. stock market.&#34;</p><p>If you ran a concentrated portfolio, and if you held all seven, you&#39;d be riding high. But most managers have a diversified portfolio in which no single stock typically can constitute more than 5% of the portfolio. That means if, by dint of wisdom or luck, you acquired your full allotment of the Magnificent Seven, that would only account for 35% (seven times 5%) of your portfolio. The other 65% would have to be made up of less-stellar performers, with many dragging down the overall results.</p><p>OK, you say, but all that&#39;s a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google). Collectively, the average return for these five was nearly 50% in 2017, compared with the S&amp;P 500 return of 21.8%. The FAANGs came to make up more than 10% of the S&amp;P 500 market cap and accounted for 4.3 percentage points of the overall market&#39;s 21.8% return in 2017. During 2020, the FAANG stocks surged to 20% of the index&#39;s total market cap, the highest concentration in the S&amp;P 500&#39;s history -- until now.</p><p>And before the Magnificent Seven and the FAANGs, there were narrow markets in the late 1990s: The &#34;Four Horsemen&#34; -- Microsoft, Cisco, Oracle, and Intel -- led the market higher during the tech boom of the late 1990s. In 1999, these four plus Dell Technologies accounted for some 42% of the run-up in the total market value of all 500 companies. Going back a half-century, while there were thousands of listed stocks, the &#34;Nifty Fifty&#34; -- names like Sears, Eastman Kodak, and Polaroid -- were among a small cadre of stocks generating disproportionate returns.</p><p>It turns out that narrow markets aren&#39;t new or temporary or unusual. Professor Hendrik Bessembinder of Arizona State University has evaluated lifetime returns for every U.S. common stock traded on the New York and American Stock Exchanges and Nasdaq for the 90 years since 1926. He found that just 86 stocks accounted for half of the total stock market wealth creation over this 90-year period. Meanwhile, less than half of the stocks in the universe generated any returns for investors, and only 42% earned more than risk-free Treasuries over the entire period. Put another way, less than 4% of the thousands of stocks in this universe accounted for virtually all of the market gains.</p><p>The prevalence of narrow markets suggests that building out a typical institutional portfolio of 80 to 100 stocks may inevitably diminish rather than enhance returns. But most managers know they need to present a widely diversified portfolio with dozens of names in it because a &#34;concentrated portfolio&#34; is a specialized product seen as too risky by most investors.</p><p>Some active managers have been notorious for closet indexing -- creating portfolios that almost, but not quite, mirror the S&amp;P 500, thus guaranteeing that results that will never depart too much from their benchmark. But how can you build a closet narrow-markets portfolio? You could offer a concentrated portfolio, composed of, say, 25 stocks, and if you get most of the Magnificent Seven, or whatever group is the elephant in the room at that moment, you&#39;ll do well. But that&#39;s a big market risk -- and a big marketing risk.</p><p>In short, as long as markets are narrow, stockpickers have a daunting task.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VOO":"Vanguard标普500ETF","SPXU":"三倍做空标普500ETF","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","TSLA":"特斯拉","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","NVDA":"英伟达","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","GOOG":"谷歌","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","AMZN":"亚马逊","BK4554":"元宇宙及AR概念","SPY":"标普500ETF","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD",".SPX":"S&P 500 Index","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","OEX":"标普100","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","META":"Meta Platforms, Inc.","IE000YTNTUN2.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG)INC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","OEF":"标普100指数ETF-iShares","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","SDS":"两倍做空标普500ETF","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","CSCO":"思科","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0238689110.USD":"贝莱德环球动力股票基金","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","AAPL":"苹果","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","MSFT":"微软","GOOGL":"谷歌A","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0082616367.USD":"摩根大通美国科技A（dist）","SH":"标普500反向ETF","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","SSO":"两倍做多标普500ETF","BK4077":"互动媒体与服务","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","IVV":"标普500指数ETF"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2468617306","content_text":"This time was supposed to be different. This was going to be a stockpickers' market in which astute active investors would no longer trail the index and could show their mettle. Instead, active management has continued to underperform.The efficient-market crowd says -- of course -- that most managers can't beat the market. But there's also an unappreciated structural problem dooming active managers these days: We have been in a period of \"narrow markets\" in which a few stocks -- the Magnificent Seven, or Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Facebook parent Meta Platforms, and Tesla -- account for the lion's share of market gains. So, any manager who develops a well-diversified portfolio of stocks -- and that, after all, is what most managers are hired to do -- is inevitably doomed to underperform because many of the holdings beyond the Magnificent Seven can only drag down performance.According to Morningstar, during the first half of 2024, only 18.2% of actively managed mutual funds and exchange-traded funds that have the cap-weighted S&P 500 index as a benchmark outperformed it. That's down from the 19.8% for all of 2023. Over the past decade, an annual average of only 27.1% of actively managed funds benchmarked to the S&P 500 outperformed it.The prospects for active managers were particularly handicapped in the first half of this year because the Magnificent Seven accounted for nearly 60% of the total return on the S&P 500. Those seven stocks also accounted for more than half of the S&P 500 performance in 2023. Their outperformance means they have grown to represent some 30% of the total S&P 500 market capitalization. New York Magazine called this \"the greatest concentration of capital in the smallest number of companies in the history of the U.S. stock market.\"If you ran a concentrated portfolio, and if you held all seven, you'd be riding high. But most managers have a diversified portfolio in which no single stock typically can constitute more than 5% of the portfolio. That means if, by dint of wisdom or luck, you acquired your full allotment of the Magnificent Seven, that would only account for 35% (seven times 5%) of your portfolio. The other 65% would have to be made up of less-stellar performers, with many dragging down the overall results.OK, you say, but all that's a first-half-of-2024 story; the Magnificent Seven have cooled off a bit since then, and in normal markets managers have a better chance of getting it right. But it turns out that normal markets are very frequently narrow markets. Before the Mag Seven, remember, there were the FAANG stocks (Facebook, Amazon, Apple, Netflix, and Google). Collectively, the average return for these five was nearly 50% in 2017, compared with the S&P 500 return of 21.8%. The FAANGs came to make up more than 10% of the S&P 500 market cap and accounted for 4.3 percentage points of the overall market's 21.8% return in 2017. During 2020, the FAANG stocks surged to 20% of the index's total market cap, the highest concentration in the S&P 500's history -- until now.And before the Magnificent Seven and the FAANGs, there were narrow markets in the late 1990s: The \"Four Horsemen\" -- Microsoft, Cisco, Oracle, and Intel -- led the market higher during the tech boom of the late 1990s. In 1999, these four plus Dell Technologies accounted for some 42% of the run-up in the total market value of all 500 companies. Going back a half-century, while there were thousands of listed stocks, the \"Nifty Fifty\" -- names like Sears, Eastman Kodak, and Polaroid -- were among a small cadre of stocks generating disproportionate returns.It turns out that narrow markets aren't new or temporary or unusual. Professor Hendrik Bessembinder of Arizona State University has evaluated lifetime returns for every U.S. common stock traded on the New York and American Stock Exchanges and Nasdaq for the 90 years since 1926. He found that just 86 stocks accounted for half of the total stock market wealth creation over this 90-year period. Meanwhile, less than half of the stocks in the universe generated any returns for investors, and only 42% earned more than risk-free Treasuries over the entire period. Put another way, less than 4% of the thousands of stocks in this universe accounted for virtually all of the market gains.The prevalence of narrow markets suggests that building out a typical institutional portfolio of 80 to 100 stocks may inevitably diminish rather than enhance returns. But most managers know they need to present a widely diversified portfolio with dozens of names in it because a \"concentrated portfolio\" is a specialized product seen as too risky by most investors.Some active managers have been notorious for closet indexing -- creating portfolios that almost, but not quite, mirror the S&P 500, thus guaranteeing that results that will never depart too much from their benchmark. But how can you build a closet narrow-markets portfolio? You could offer a concentrated portfolio, composed of, say, 25 stocks, and if you get most of the Magnificent Seven, or whatever group is the elephant in the room at that moment, you'll do well. But that's a big market risk -- and a big marketing risk.In short, as long as markets are narrow, stockpickers have a daunting task.","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370266140356792,"gmtCreate":1731425142664,"gmtModify":1731425146386,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"Good night fellows MN","listText":"Good night fellows MN","text":"Good night fellows MN","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370266140356792","isVote":1,"tweetType":1,"viewCount":25,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369553839505648,"gmtCreate":1731264648864,"gmtModify":1731264652894,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"Great article","listText":"Great article","text":"Great article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369553839505648","repostId":"2480071526","repostType":2,"repost":{"id":"2480071526","pubTimestamp":1730451300,"share":"https://ttm.financial/m/news/2480071526?lang=&edition=fundamental","pubTime":"2024-11-01 16:55","market":"hk","language":"zh","title":"大行评级｜瑞银：上调谷歌目标价至192美元 上调2025及26年每股盈测","url":"https://stock-news.laohu8.com/highlight/detail?id=2480071526","media":"港股那点事","summary":"该行将Alphabet的2025及2026年每股盈利预测上调约3%，目标价由187美元上调至192美元，维持“中性”评级。","content":"<html><body><div>\n<p cms-style=\"font-L\"><font cms-hidden=\"true\" cms-style=\"font-L\"></font>    格隆汇11月1日｜瑞银发表报告指出，Alphabet股东从新增资本开支中获得的部分好处，显现在搜寻业务收入的显著增长上，估计Alphabet今年将增加约240亿美元的搜寻业务收入，相比2023年的130亿美元，及2022年的150亿美元，主要受惠于如Performance Max等创新措施所推动。此外，Alphabet于第三季的云业务收入增长亦显著提升，该行料全年云业务收入将增加约100亿美元，相对于2022年及2023年均为约70亿美元，而目前云业务增速已超越YouTube的增速。该行认为，上述因素将有助于Alphabet解决有关资本开支及投资回报率的问题，但公司的监管问题及对最重要业务部门市场份额损失前景的忧虑，或将抑制公司增长。该行将Alphabet的2025及2026年每股盈利预测上调约3%，目标价由187美元上调至192美元，维持“中性”评级。               </p>\n<div></div>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在新浪财经APP</div>\n</div>\n</div></body></html>","source":"sina","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>大行评级｜瑞银：上调谷歌目标价至192美元 上调2025及26年每股盈测</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\">\n大行评级｜瑞银：上调谷歌目标价至192美元 上调2025及26年每股盈测\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-01 16:55 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/bxjj/2024-11-01/doc-incupzme1990211.shtml><strong>港股那点事</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>格隆汇11月1日｜瑞银发表报告指出，Alphabet股东从新增资本开支中获得的部分好处，显现在搜寻业务收入的显著增长上，估计Alphabet今年将增加约240亿美元的搜寻业务收入，相比2023年的130亿美元，及2022年的150亿美元，主要受惠于如Performance Max等创新措施所推动。此外，Alphabet于第三季的云业务收入增长亦显著提升，该行料全年云业务收入将增加约100亿美元，...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/bxjj/2024-11-01/doc-incupzme1990211.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A"},"source_url":"https://finance.sina.com.cn/stock/bxjj/2024-11-01/doc-incupzme1990211.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2480071526","content_text":"格隆汇11月1日｜瑞银发表报告指出，Alphabet股东从新增资本开支中获得的部分好处，显现在搜寻业务收入的显著增长上，估计Alphabet今年将增加约240亿美元的搜寻业务收入，相比2023年的130亿美元，及2022年的150亿美元，主要受惠于如Performance Max等创新措施所推动。此外，Alphabet于第三季的云业务收入增长亦显著提升，该行料全年云业务收入将增加约100亿美元，相对于2022年及2023年均为约70亿美元，而目前云业务增速已超越YouTube的增速。该行认为，上述因素将有助于Alphabet解决有关资本开支及投资回报率的问题，但公司的监管问题及对最重要业务部门市场份额损失前景的忧虑，或将抑制公司增长。该行将Alphabet的2025及2026年每股盈利预测上调约3%，目标价由187美元上调至192美元，维持“中性”评级。               \n\n\n\n海量资讯、精准解读，尽在新浪财经APP","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354745831030944,"gmtCreate":1727617446634,"gmtModify":1727617450646,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"Gurun kedah","listText":"Gurun kedah","text":"Gurun kedah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354745831030944","isVote":1,"tweetType":1,"viewCount":175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354745713909784,"gmtCreate":1727617313282,"gmtModify":1727617316245,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a>&nbsp;","listText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$ </a>&nbsp;","text":"$Tiger Brokers(TIGR)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354745713909784","isVote":1,"tweetType":1,"viewCount":140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354745080373408,"gmtCreate":1727617263368,"gmtModify":1727659662299,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"AI is Greate","listText":"AI is Greate","text":"AI is Greate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/354745080373408","repostId":"2471830269","repostType":2,"repost":{"id":"2471830269","pubTimestamp":1727613026,"share":"https://ttm.financial/m/news/2471830269?lang=&edition=fundamental","pubTime":"2024-09-29 20:30","market":"us","language":"en","title":"Commentary: AI is entering a whole new dimension","url":"https://stock-news.laohu8.com/highlight/detail?id=2471830269","media":"Yahoo Finance","summary":"This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with:. And honestly, I have no one to blame but the person looking back in the mirror.Technically, I guess all of these AI discussions are making me a more informed journalist, leader, and human being.But sometimes listening to what people deep in the weeds are doing in AI sound like a completely different language. Think Martians speaking on Pluto. And the lingo and development of AI tools and products are moving at a speed multiples faster compared to my last West Coast venture in September 2023.\"I think over the next few years and maybe decades, almost every company will be hit with some kind of innovator's dilemma in that the way they used to make revenue is going to change because a lot of their processes are going to get automated with AI. And that just changes the nature of the work that you're doing. You need to stop thinking about almost any repetitive process. E","content":"<html><body><p><strong><em>This is The Takeaway from today's Morning Brief, which you can </em></strong><strong><em>sign up</em></strong><strong><em> to receive in your inbox every morning along with:</em></strong></p>\n<ul>\n<li><p><strong><em>The chart of the day</em></strong></p></li>\n<li><p><strong><em>What we're watching</em></strong></p></li>\n<li><p><strong><em>What we're reading</em></strong></p></li>\n<li><p><strong><em>Economic data releases and earnings</em></strong></p></li>\n</ul>\n<p>I feel like I have gotten dumber each day of September. </p>\n<p>And honestly, I have no one to blame but the person looking back in the mirror. </p>\n<p>I have mostly spent the month on the West Coast ingesting the latest advances in artificial intelligence. First at the Goldman Sachs Communacopia conference, then Salesforce's (CRM) annual Dreamforce extravaganza, and currently with AI chats on Yahoo Finance's Opening Bid podcast (now stationed at the Nasdaq). I'll toss in a Netflix event I went to Thursday night where Microsoft (MSFT) co-founder Bill Gates talked for an hour, mostly on AI and the future of the world. </p>\n<p>Technically, <em>I guess</em> all of these AI discussions are making me a more informed journalist, leader, and human being. </p>\n<p>But sometimes listening to what people deep in the weeds are doing in AI sound like a completely different language. Think Martians speaking on Pluto. And the lingo and development of AI tools and products are moving at a speed multiples faster compared to my last West Coast venture in September 2023.</p>\n<p>Hard to keep up and not think you have an IQ of 75!</p>\n<p>It already feels like I am way behind the curve on understanding the next wave of AI — and that's alarming because 1) there's potential for at least five more waves to hit civilization; 2) the average person on the street unlikely realizes how their very way of life is about to be affected by an AI-powered agent or some other piece of technology. </p>\n<figure>\n<img src=\"https://s.yimg.com/os/creatr-uploaded-images/2024-09/44ccb980-7cbf-11ef-a6db-03ef639909dc\"/>\n<figcaption>\n  Bill Gates dives into the future of the world at a Netflix event on Thursday alongside journalist Kara Swisher.\n </figcaption>\n<div>\n  Brian Sozzi\n </div>\n</figure>\n<p>We saw that firsthand with the new AI functionality Meta (META) and OpenAI showed off this week for their various products. This was a series of wow moments. </p>\n<p>Bill Gates proceeded to tell a packed theater that AI will soon become \"superior\" at \"very profound\" tasks. Reassuring!</p>\n<p>I also experienced it up close and personal with a real nice German fella named Richard Socher on Opening Bid (video above). </p>\n<p>Never heard of the 41-year-old Socher? You should be following his work at search engine You.com, a company he founded. He was the first chief scientist at Salesforce (CEO Marc Benioff was an early backer of You.gov), and he eats, sleeps, and breathes AI.</p>\n<p>The company is now valued at close to $1 billion after an investment led by Nvidia (NVDA). </p>\n<p>Here are a couple of quotes from Socher that left an impression:</p>\n<p><em>\"I think over the next few years and maybe decades, almost every company will be hit with some kind of innovator's dilemma in that the way they used to make revenue is going to change because a lot of their processes are going to get automated with AI. And that just changes the nature of the work that you're doing. You need to stop thinking about almost any repetitive process. Every time you feel like, oh, I've done this before, I'm just going through these steps, you should be giving those as a prompt to an agent and then get an accurate AI agent.\"</em></p>\n<p><em>\"I think actually in the next few years, we're probably going to see more and more AI agents surfing the web for you than we have people surfing the web, which will change the web as we know it too, and how it often monetizes. But it basically means that a lot of people will get access to their own personal assistant in the way only really wealthy people have right now.\"</em></p>\n<p>You may be wondering what this all means to you, the investor. </p>\n<p>Here are a few notes from me on that front before you go:</p>\n<ul>\n<li><p>2025 is going to be one hell of a year for Nvidia and AMD (AMD). The demand for AI chips only seems to be strengthening. What that means for struggling Intel (INTC), well...</p></li>\n<li><p>This coming earnings season, listen for executives at companies you invest in outline cost-cutting moves by using AI. If you hear crickets, it could be a signal the company doesn't have a great AI strategy in place and risks getting left behind. </p></li>\n<li><p>Today is the day to buy three books on AI to understand the lingo and possibilities — and then think critically on how the technology could be applied to investments you are eying. </p></li>\n</ul>\n<p><strong>Three times each week, I field insight-filled conversations with the biggest names in business and markets on</strong><strong> Opening Bid</strong><strong>. Find more episodes on our</strong><strong> video hub</strong><strong>. Watch on your</strong><strong> preferred streaming service</strong><strong>. Or listen and subscribe on</strong><strong> Apple Podcasts</strong><strong>,</strong><strong> Spotify</strong><strong>, or wherever you find your favorite podcasts.</strong></p>\n<p>In the below Opening Bid episode, early You.com backer and Salesforce (CRM) CEO Marc Benioff shares his views on how AI will shape the business world. </p>\n<div></div>\n<p><em>Brian Sozzi</em><em> is Yahoo Finance's Executive Editor. Follow Sozzi on X </em><em>@BrianSozzi</em><em> and on </em><em>LinkedIn</em><em>. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.</em></p>\n<p><strong>Click here for the latest technology news that will impact the stock market</strong></p>\n<p><strong>Read the latest financial and business news from Yahoo Finance</strong></p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Commentary: AI is entering a whole new dimension</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\">\nCommentary: AI is entering a whole new dimension\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-29 20:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/commentary-ai-is-entering-a-whole-new-dimension-123026020.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning along with:\n\nThe chart of the day\nWhat we're watching\nWhat we're reading\nEconomic data ...</p>\n\n<a href=\"https://finance.yahoo.com/news/commentary-ai-is-entering-a-whole-new-dimension-123026020.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/IjkzZ4Ypin10Rnxk3zqW5g--~B/aD0yMzMzO3c9MzUwMDthcHBpZD15dGFjaHlvbg--/https://s.yimg.com/os/creatr-uploaded-images/2024-09/34f61840-7c3c-11ef-bbdb-127445fc1261","relate_stocks":{"IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","3NVD.UK":"LS 3X NVIDIA","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","BK4516":"特朗普概念","NVDA":"英伟达","2NVD.UK":"2X NVIDIA ETP","L":"洛斯公司","CRM":"赛富时","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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First at the Goldman Sachs Communacopia conference, then Salesforce's (CRM) annual Dreamforce extravaganza, and currently with AI chats on Yahoo Finance's Opening Bid podcast (now stationed at the Nasdaq). I'll toss in a Netflix event I went to Thursday night where Microsoft (MSFT) co-founder Bill Gates talked for an hour, mostly on AI and the future of the world. \nTechnically, I guess all of these AI discussions are making me a more informed journalist, leader, and human being. \nBut sometimes listening to what people deep in the weeds are doing in AI sound like a completely different language. Think Martians speaking on Pluto. And the lingo and development of AI tools and products are moving at a speed multiples faster compared to my last West Coast venture in September 2023.\nHard to keep up and not think you have an IQ of 75!\nIt already feels like I am way behind the curve on understanding the next wave of AI — and that's alarming because 1) there's potential for at least five more waves to hit civilization; 2) the average person on the street unlikely realizes how their very way of life is about to be affected by an AI-powered agent or some other piece of technology. \n\n\n\n  Bill Gates dives into the future of the world at a Netflix event on Thursday alongside journalist Kara Swisher.\n \n\n  Brian Sozzi\n \n\nWe saw that firsthand with the new AI functionality Meta (META) and OpenAI showed off this week for their various products. This was a series of wow moments. \nBill Gates proceeded to tell a packed theater that AI will soon become \"superior\" at \"very profound\" tasks. Reassuring!\nI also experienced it up close and personal with a real nice German fella named Richard Socher on Opening Bid (video above). \nNever heard of the 41-year-old Socher? You should be following his work at search engine You.com, a company he founded. He was the first chief scientist at Salesforce (CEO Marc Benioff was an early backer of You.gov), and he eats, sleeps, and breathes AI.\nThe company is now valued at close to $1 billion after an investment led by Nvidia (NVDA). \nHere are a couple of quotes from Socher that left an impression:\n\"I think over the next few years and maybe decades, almost every company will be hit with some kind of innovator's dilemma in that the way they used to make revenue is going to change because a lot of their processes are going to get automated with AI. And that just changes the nature of the work that you're doing. You need to stop thinking about almost any repetitive process. Every time you feel like, oh, I've done this before, I'm just going through these steps, you should be giving those as a prompt to an agent and then get an accurate AI agent.\"\n\"I think actually in the next few years, we're probably going to see more and more AI agents surfing the web for you than we have people surfing the web, which will change the web as we know it too, and how it often monetizes. But it basically means that a lot of people will get access to their own personal assistant in the way only really wealthy people have right now.\"\nYou may be wondering what this all means to you, the investor. \nHere are a few notes from me on that front before you go:\n\n2025 is going to be one hell of a year for Nvidia and AMD (AMD). The demand for AI chips only seems to be strengthening. What that means for struggling Intel (INTC), well...\nThis coming earnings season, listen for executives at companies you invest in outline cost-cutting moves by using AI. If you hear crickets, it could be a signal the company doesn't have a great AI strategy in place and risks getting left behind. \nToday is the day to buy three books on AI to understand the lingo and possibilities — and then think critically on how the technology could be applied to investments you are eying. \n\nThree times each week, I field insight-filled conversations with the biggest names in business and markets on Opening Bid. Find more episodes on our video hub. Watch on your preferred streaming service. Or listen and subscribe on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.\nIn the below Opening Bid episode, early You.com backer and Salesforce (CRM) CEO Marc Benioff shares his views on how AI will shape the business world. \n\nBrian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.\nClick here for the latest technology news that will impact the stock market\nRead the latest financial and business news from Yahoo Finance","news_type":1},"isVote":1,"tweetType":1,"viewCount":272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352548683051224,"gmtCreate":1727090234191,"gmtModify":1727096016357,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"To the moon","listText":"To the moon","text":"To the moon","images":[{"img":"https://community-static.tradeup.com/news/cde75598cef25fb2177b9e1b751d3ffc","width":"652","height":"832"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/352548683051224","isVote":1,"tweetType":1,"viewCount":104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":333740896436312,"gmtCreate":1722508040364,"gmtModify":1722508232132,"author":{"id":"4185559841590072","authorId":"4185559841590072","name":"fahem rejab","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4185559841590072","authorIdStr":"4185559841590072"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/333740896436312","repostId":"2456145969","repostType":2,"repost":{"id":"2456145969","weMediaInfo":{"introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"media_name":"MT Newswires","id":"1060499803","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"pubTimestamp":1722478927,"share":"https://ttm.financial/m/news/2456145969?lang=&edition=fundamental","pubTime":"2024-08-01 10:22","market":"sg","language":"en","title":"Keppel DC REIT Completes Tokyo Data Centre Acquisition","url":"https://stock-news.laohu8.com/highlight/detail?id=2456145969","media":"MT Newswires","summary":"Keppel DC REIT Management, the manager of Keppel DC REIT , has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.Price : S$2.05, Change: S$+0.03, Percent Change: +1.49%","content":"<html><body><p> Keppel DC REIT Management, the manager of Keppel DC REIT (SGX:AJBU), has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.</p><p>The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.</p><p>The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.</p><p>Price (SGD): S$2.05, Change: S$+0.03, Percent Change: +1.49%</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nKeppel DC REIT Completes Tokyo Data Centre Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1060499803\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires </p>\n<p class=\"h-time\">2024-08-01 10:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Keppel DC REIT Management, the manager of Keppel DC REIT (SGX:AJBU), has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.</p><p>The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.</p><p>The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.</p><p>Price (SGD): S$2.05, Change: S$+0.03, Percent Change: +1.49%</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SG9999013460.SGD":"LionGlobal Singapore Dividend Equity Fund SGD","BK6523":"ESG概念","SG9999013478.USD":"利安新加坡股息基金","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","BK6505":"周期性消费品与消费者服务","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","CFA.SI":"NikkoAM-STC Asia REIT","SG9999001135.SGD":"United ASEAN Fund SGD","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","SG9999014302.SGD":"RHB Singapore Income Fund SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC","BK6131":"数据中心房地产信托","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","SGXZ43160589.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) ACC","SGXZ24219693.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) INC","BK6111":"工业集团企业","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","SG9999016042.SGD":"Schroder Singapore Trust A Acc SGD","BK6512":"房地产股","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","SGXZ58947870.SGD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (SGDHDG) INC","SG9999001127.SGD":"United Singapore Growth Fund SGD","BK6014":"特种房地产投资信托","AJBU.SI":"吉宝数据中心房地产信托","BN4.SI":"吉宝有限公司","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD"},"source_url":"https://www.mtnewswires.com/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2456145969","content_text":"Keppel DC REIT Management, the manager of Keppel DC REIT (SGX:AJBU), has completed the acquisition of a data center located in Tokyo, Japan, according to a Wednesday filing on the Singapore Exchange.The acquisition improves Keppel DC REIT's portfolio, adding to its geographical diversification and increasing its rental income from clients with investment-grade credit profiles.The acquisition raises the REIT's assets under management to SG$3.9 billion, spanning 23 data centers across 10 countries in Asia Pacific and Europe.Price (SGD): S$2.05, Change: S$+0.03, Percent Change: +1.49%","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}