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- Trader404Trader404
  ·2022-05-25
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  A 'Lost Decade' Ahead For Markets?
  SummaryOver the last 120 years, valuations have consistently proved to be a strong predictor of futu
  A 'Lost Decade' Ahead For Markets?
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- Trader404Trader404
  ·2022-05-25
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- Trader404Trader404
  ·2022-05-20
  Yes
  Pre-Bell｜Nasdaq and S&P 500 Futures Rebounded Over 1%; Ross Stores Slumped Nearly 30%
  U.S. stock futures bounced early on Friday cutting into losses from earlier in the week that has sen
  Pre-Bell｜Nasdaq and S&P 500 Futures Rebounded Over 1%; Ross Stores Slumped Nearly 30%
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- Trader404Trader404
  ·2022-05-19
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  Tesla: Never Bought it and Never Will
  Tesla stock is overvalued and Chief Executive Officer Elon Musk is bored.The company has yet to begin planning on a true mass market car.Tesla loses share wherever the middle class gets into the electric revolution.I am not a fan ofTesla or TSLA stock.I question the basic bull thesis. Having taken the luxury end of the market, the theory goes that Tesla can take the mass market by simply scaling up.But in markets where there is mass market demand forelectric vehicles , like China and Europe, Te
  Tesla: Never Bought it and Never Will
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19:36","market":"us","language":"en","title":"A 'Lost Decade' Ahead For Markets?","url":"https://stock-news.laohu8.com/highlight/detail?id=2238349985","media":"Real Investment Advice","summary":"SummaryOver the last 120 years, valuations have consistently proved to be a strong predictor of futu","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Over the last 120 years, valuations have consistently proved to be a strong predictor of future returns with lost decades a common occurrence.</li><li>Given the low growth economic environment, low rates, and weak inflation, a market return significantly lower over the last decade is logical.</li><li>For investors, understanding potential returns from any given valuation point is crucial when considering putting “savings” at risk.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f94ec5a136143cd7ad29bbcd8d447c49\" tg-width=\"750\" tg-height=\"455\" referrerpolicy=\"no-referrer\"/><span>nevarpp/iStock via Getty Images</span></p><p>Is a <i>“lost decade”</i> ahead for markets? We and many others have discussed a topic regarding financial market valuations and forward returns. Now, halfway into 2022, all of a sudden, the <i>“crazy talk”</i> of valuations seems a lot less crazy as bear markets growl.</p><p>However, it wasn’t that long ago the mainstream media discounted valuations and forward returns. For example, in December 2021, <b><i>Ben Carlson</i></b> recounted a presenter at a 2010-2011 conference who discussed valuations for a 60/40 allocation in the 95th percentile. Historically, that suggested investors were doomed for a low-return environment of roughly 2-3% over the next decade. As he states:</p><blockquote><i>“Instead, this happened.”</i></blockquote><p><img src=\"https://static.tigerbbs.com/0c90169df4b853eb6bf65a91748fb4f3\" tg-width=\"1280\" tg-height=\"747\" referrerpolicy=\"no-referrer\"/></p><blockquote><i>“U.S. growth is up almost 20% per year. The S&amp;P 500 is up more than 16% per year. Small caps are up almost 14% per year. REITs rose more than 11% annually. Everyone has been dancing on the grave of value stocks for years now, yet they’re up nearly 14% per year over the last decade.</i></blockquote><blockquote><i>A simple 60/40 portfolio of U.S. stocks and bonds is up around 11% per year over the past 10 years.”</i></blockquote><p>Valuation and forward return assumptions were wrong then.</p><p>Or were they?</p><p><b>Real Market Returns</b></p><p>Over the last 120 years, valuations have consistently proved to be a strong predictor of future returns with lost decades a common occurrence. However, as we discussed previously in <b><i>“Rationalizing High Valuations:”</i></b></p><blockquote><i>“The mistake investors repeatedly make is dismissing the data in the short-term because there is no immediate impact on price returns.</i><i><b>Valuations by their very nature are HORRIBLE predictors of 12-month returns.</b></i><i> Investors avoid any investment strategy which has such a focus.</i><i><b> In the longer term, however, valuations are strong predictors of expected returns.”</b></i></blockquote><p>The chart below shows valuations and rolling 10-year total real returns. The obvious conclusion is that overpaying for value leads to lost decades.</p><p><img src=\"https://static.tigerbbs.com/10c4919c16d7114781eca70ca0e77438\" tg-width=\"1024\" tg-height=\"625\" referrerpolicy=\"no-referrer\"/></p><p>However, let’s go back to Ben’s comment above. In 2009, valuations had corrected significantly, not only from the <i>“Financial Crisis”</i> peak but also from the preceding <i>“Dot.com”</i> bubble. Therefore, investors should have expected forward returns on equities to be higher over the next decade.</p><p>The chart below shows this more clearly. I highlighted the three previous points for reference.</p><ol><li><i>The “Dot.com” bubble peak.</i></li><li><i>January 2009 (Start of the current bull market cycle)</i></li><li><i>Ending valuation for 2021.</i></li></ol><p><img src=\"https://static.tigerbbs.com/03e8f87a4aec06a73f2e6ebd29c7aa7f\" tg-width=\"1024\" tg-height=\"601\" referrerpolicy=\"no-referrer\"/></p><p>From 2000 through 2010, a lost decade, annual returns after inflation were indeed negative. Such is what 43x earnings predicted at that time.</p><p><b>An Artificial Support</b></p><p>The Wall Street Journal recently discussed the last decade’s stellar returns.</p><blockquote><i>“Investors’ optimism is easier to understand if <a href=\"https://laohu8.com/S/AONE.U\">one</a> looks at the 10 years through the end of 2021, during which the compound annual return of the benchmark S&amp;P 500 was a very good 16.6%. Not so far from what those surveyed extrapolated. Its components need closer scrutiny, though.”</i></blockquote><p><img src=\"https://static.tigerbbs.com/f708a45c45c49c4711d84827db0a19eb\" tg-width=\"571\" tg-height=\"510\" referrerpolicy=\"no-referrer\"/></p><p>While the Wall Street Journal then tries to make the case that profit margins were responsible for the bulk of the gains, the reality is most of the excess returns came from just two unique sources.</p><ol><li><i>A decade of monetary interventions and zero interest rate policies; and,</i></li><li><i>A massive spending spree by</i> <i><b>corporations on share repurchases.</b></i></li></ol><blockquote><i>The chart below via Pavilion Global Markets shows the impact of stock buybacks on the market over the last decade. The decomposition of returns for the S&amp;P 500 breaks down as follows:</i></blockquote><ul><li><i>21% from multiple expansions,</i></li><li><i>31.4% from earnings,</i></li><li><i>7.1% from dividends, and</i></li><li><i><b>40.5% from share buybacks.</b></i></li></ul><p><img src=\"https://static.tigerbbs.com/51be7216313c0927c9790e6221582a41\" tg-width=\"1024\" tg-height=\"733\" referrerpolicy=\"no-referrer\"/></p><blockquote><i>In other words, in the absence of share repurchases, the stock market would not be pushing record highs of 4700 but instead levels closer to 2800.</i></blockquote><blockquote><i><b>Such would mean that stocks returned a total of about 3% annually or 42% in total over those 14 years.</b></i></blockquote><p>Given the low growth economic environment, low rates, and weak inflation, a market return significantly lower over the last decade is logical. However, given the injections of over <b><i>$43 Trillion in liquidity,</i></b> corporate stock buying, and the <b><i>artificial suppression of rates,</i></b> the outsized returns were not surprising.</p><p>The question is whether those artificial influences can be sustained for another decade.</p><p><b>Lost Decade Ahead?</b></p><blockquote><i>“As sour as the mood has seemed lately, the S&amp;P 500 would drop by another 45% or so if both margins and price/earnings multiples reverted to their long-run averages. Such would take the benchmark back to a level it first crossed five years ago.</i></blockquote><blockquote><i>That sounds alarmist, but stocks’ level in 2031 could be the same whether Mr. Grantham is correct or not about a sharp bear market. The alternative could be milder selloffs and recoveries along the lines of what we have experienced recently that lead stocks exactly nowhere.” – WSJ</i></blockquote><p><i>“Reversions to the mean”</i> is one of the most powerful forces in finance, The importance of which often gets lost during a raging <i>“bull market”</i> that seemingly defies all logic. Such was a point made by David Leonhardt previously:</p><blockquote><i>“The classic 1934 textbook ‘Security Analysis’ – by Benjamin Graham, a mentor to Warren Buffett, and David Dodd – urged investors to compare stock prices to earnings over</i><i><b>‘not less than five years, preferably seven or ten years.’</b></i><i> Ten years is enough time for the economy to go in and out of recession.</i><i><b>It’s enough time for faddish theories about new paradigms to come and go.</b></i><i>”</i></blockquote><p><img src=\"https://static.tigerbbs.com/88f6ac93e586c7afc1e85e52d0aad891\" tg-width=\"1024\" tg-height=\"596\" referrerpolicy=\"no-referrer\"/></p><p>What does such mean for future equity returns?</p><blockquote><i>“Vanguard regularly puts out expected returns for various asset classes using ranges in their estimates. Here are their latest 10 year forward return projections:</i></blockquote><blockquote><i>With a projected inflation rate of around 2% per year, the real return estimate for U.S. stocks is somewhere in the range of 0-2% real. They have growth stocks going negative after inflation over the next decade.” – Ben Carlson</i></blockquote><p><img src=\"https://static.tigerbbs.com/a77454a1559f1a764003eb444630264e\" tg-width=\"749\" tg-height=\"654\" referrerpolicy=\"no-referrer\"/></p><p>Notably, while such commentary is often cast as <i>“bearish,”</i> such forecasts are a reflection of:</p><ol><li><i>Math; and,</i></li><li><i>Reversion</i>s</li></ol><p>The second is critically essential.</p><p><b>The Most Powerful Force In Finance</b></p><p>Throughout history, whether it is valuations, prices, profits, or any other metric, eventually, and always, deviations revert to the mean. Such was a point discussed in <i><b>“The Market Is Disconnected From Everything.”</b></i></p><blockquote><i>“</i><i><b>Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism.</b></i><i> If high profits do not attract competition, there is something wrong with the system, and it is not functioning properly.” – Jeremy Grantham</i></blockquote><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5f6c42f677db962aed352d488d49244\" tg-width=\"1024\" tg-height=\"517\" referrerpolicy=\"no-referrer\"/><span>Data Through 2021</span></p><p><b>Markets are not cheap by any measure.</b> If earnings growth fails to achieve high expectations, interest rates rise, or profit margins shrink due to inflation, the bull market thesis will collapse as <i>“expectations”</i> collide with <i>“reality.”</i></p><p><b>A Lesson To Be Learned</b></p><p>Such is not a dire prediction of doom and gloom, nor is it a <i>“bearish”</i> forecast. <b>It is just a function of how “</b><b><i>math works over long periods.”</i></b>However, during a <i>“raging bull market,”</i> investors always lose sight of long-term realities. As Howard Marks noted in a<i> Bloomberg interview</i>:</p><blockquote><i><b>“Fear of missing out has taken over from the fear of losing money.</b></i><i>If people are risk-tolerant and afraid of being out of the market,</i><i><b>they buy aggressively, in which case you can’t find any bargains. That’s where we are now. That’s what the Fed engineered by putting rates at zero.</b></i></blockquote><blockquote><b><i>“We are back to where we were a year ago—uncertainty, prospective returns that are even lower than they were a year ago, and higher asset prices than a year ago.</i></b><i> People are back to having to take on more risk to get return. At Oaktree, we are back to a cautious approach.</i><i><b>This is not the kind of environment in which you would be buying with both hands.</b></i></blockquote><blockquote><b><i>The prospective returns are low on everything.”</i></b></blockquote><p>For investors, understanding potential returns from any given valuation point is crucial when considering putting <i>“savings”</i> at risk. <b>Risk is an essential concept as it is the expectation of</b><b><i>“loss.”</i></b></p><p><b>The more risk investors take within a portfolio, the greater the destruction of capital when reversions occur.</b></p><p>This time is <i>“not different.”</i> The only difference will be what triggers the subsequent valuation reversion and when it eventually occurs.</p><p>Two previous bear markets taught many this lesson. <b>Unfortunately, a whole generation of investors is learning this lesson the hard way.</b></p></body></html>","source":"lsy1603271479234","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\">\nA 'Lost Decade' Ahead For Markets?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-25 19:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://realinvestmentadvice.com/a-lost-decade-ahead-for-markets/><strong>Real Investment Advice</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryOver the last 120 years, valuations have consistently proved to be a strong predictor of future returns with lost decades a common occurrence.Given the low growth economic environment, low ...</p>\n\n<a href=\"https://realinvestmentadvice.com/a-lost-decade-ahead-for-markets/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://realinvestmentadvice.com/a-lost-decade-ahead-for-markets/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2238349985","content_text":"SummaryOver the last 120 years, valuations have consistently proved to be a strong predictor of future returns with lost decades a common occurrence.Given the low growth economic environment, low rates, and weak inflation, a market return significantly lower over the last decade is logical.For investors, understanding potential returns from any given valuation point is crucial when considering putting “savings” at risk.nevarpp/iStock via Getty ImagesIs a “lost decade” ahead for markets? We and many others have discussed a topic regarding financial market valuations and forward returns. Now, halfway into 2022, all of a sudden, the “crazy talk” of valuations seems a lot less crazy as bear markets growl.However, it wasn’t that long ago the mainstream media discounted valuations and forward returns. For example, in December 2021, Ben Carlson recounted a presenter at a 2010-2011 conference who discussed valuations for a 60/40 allocation in the 95th percentile. Historically, that suggested investors were doomed for a low-return environment of roughly 2-3% over the next decade. As he states:“Instead, this happened.”“U.S. growth is up almost 20% per year. The S&P 500 is up more than 16% per year. Small caps are up almost 14% per year. REITs rose more than 11% annually. Everyone has been dancing on the grave of value stocks for years now, yet they’re up nearly 14% per year over the last decade.A simple 60/40 portfolio of U.S. stocks and bonds is up around 11% per year over the past 10 years.”Valuation and forward return assumptions were wrong then.Or were they?Real Market ReturnsOver the last 120 years, valuations have consistently proved to be a strong predictor of future returns with lost decades a common occurrence. However, as we discussed previously in “Rationalizing High Valuations:”“The mistake investors repeatedly make is dismissing the data in the short-term because there is no immediate impact on price returns.Valuations by their very nature are HORRIBLE predictors of 12-month returns. Investors avoid any investment strategy which has such a focus. In the longer term, however, valuations are strong predictors of expected returns.”The chart below shows valuations and rolling 10-year total real returns. The obvious conclusion is that overpaying for value leads to lost decades.However, let’s go back to Ben’s comment above. In 2009, valuations had corrected significantly, not only from the “Financial Crisis” peak but also from the preceding “Dot.com” bubble. Therefore, investors should have expected forward returns on equities to be higher over the next decade.The chart below shows this more clearly. I highlighted the three previous points for reference.The “Dot.com” bubble peak.January 2009 (Start of the current bull market cycle)Ending valuation for 2021.From 2000 through 2010, a lost decade, annual returns after inflation were indeed negative. Such is what 43x earnings predicted at that time.An Artificial SupportThe Wall Street Journal recently discussed the last decade’s stellar returns.“Investors’ optimism is easier to understand if one looks at the 10 years through the end of 2021, during which the compound annual return of the benchmark S&P 500 was a very good 16.6%. Not so far from what those surveyed extrapolated. Its components need closer scrutiny, though.”While the Wall Street Journal then tries to make the case that profit margins were responsible for the bulk of the gains, the reality is most of the excess returns came from just two unique sources.A decade of monetary interventions and zero interest rate policies; and,A massive spending spree by corporations on share repurchases.The chart below via Pavilion Global Markets shows the impact of stock buybacks on the market over the last decade. The decomposition of returns for the S&P 500 breaks down as follows:21% from multiple expansions,31.4% from earnings,7.1% from dividends, and40.5% from share buybacks.In other words, in the absence of share repurchases, the stock market would not be pushing record highs of 4700 but instead levels closer to 2800.Such would mean that stocks returned a total of about 3% annually or 42% in total over those 14 years.Given the low growth economic environment, low rates, and weak inflation, a market return significantly lower over the last decade is logical. However, given the injections of over $43 Trillion in liquidity, corporate stock buying, and the artificial suppression of rates, the outsized returns were not surprising.The question is whether those artificial influences can be sustained for another decade.Lost Decade Ahead?“As sour as the mood has seemed lately, the S&P 500 would drop by another 45% or so if both margins and price/earnings multiples reverted to their long-run averages. Such would take the benchmark back to a level it first crossed five years ago.That sounds alarmist, but stocks’ level in 2031 could be the same whether Mr. Grantham is correct or not about a sharp bear market. The alternative could be milder selloffs and recoveries along the lines of what we have experienced recently that lead stocks exactly nowhere.” – WSJ“Reversions to the mean” is one of the most powerful forces in finance, The importance of which often gets lost during a raging “bull market” that seemingly defies all logic. Such was a point made by David Leonhardt previously:“The classic 1934 textbook ‘Security Analysis’ – by Benjamin Graham, a mentor to Warren Buffett, and David Dodd – urged investors to compare stock prices to earnings over‘not less than five years, preferably seven or ten years.’ Ten years is enough time for the economy to go in and out of recession.It’s enough time for faddish theories about new paradigms to come and go.”What does such mean for future equity returns?“Vanguard regularly puts out expected returns for various asset classes using ranges in their estimates. Here are their latest 10 year forward return projections:With a projected inflation rate of around 2% per year, the real return estimate for U.S. stocks is somewhere in the range of 0-2% real. They have growth stocks going negative after inflation over the next decade.” – Ben CarlsonNotably, while such commentary is often cast as “bearish,” such forecasts are a reflection of:Math; and,ReversionsThe second is critically essential.The Most Powerful Force In FinanceThroughout history, whether it is valuations, prices, profits, or any other metric, eventually, and always, deviations revert to the mean. Such was a point discussed in “The Market Is Disconnected From Everything.”“Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system, and it is not functioning properly.” – Jeremy GranthamData Through 2021Markets are not cheap by any measure. If earnings growth fails to achieve high expectations, interest rates rise, or profit margins shrink due to inflation, the bull market thesis will collapse as “expectations” collide with “reality.”A Lesson To Be LearnedSuch is not a dire prediction of doom and gloom, nor is it a “bearish” forecast. It is just a function of how “math works over long periods.”However, during a “raging bull market,” investors always lose sight of long-term realities. As Howard Marks noted in a Bloomberg interview:“Fear of missing out has taken over from the fear of losing money.If people are risk-tolerant and afraid of being out of the market,they buy aggressively, in which case you can’t find any bargains. That’s where we are now. That’s what the Fed engineered by putting rates at zero.“We are back to where we were a year ago—uncertainty, prospective returns that are even lower than they were a year ago, and higher asset prices than a year ago. People are back to having to take on more risk to get return. At Oaktree, we are back to a cautious approach.This is not the kind of environment in which you would be buying with both hands.The prospective returns are low on everything.”For investors, understanding potential returns from any given valuation point is crucial when considering putting “savings” at risk. Risk is an essential concept as it is the expectation of“loss.”The more risk investors take within a portfolio, the greater the destruction of capital when reversions occur.This time is “not different.” The only difference will be what triggers the subsequent valuation reversion and when it eventually occurs.Two previous bear markets taught many this lesson. Unfortunately, a whole generation of investors is learning this lesson the hard way.","news_type":1},"isVote":1,"tweetType":1,"viewCount":660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9026438796,"gmtCreate":1653415238815,"gmtModify":1676535277135,"author":{"id":"3576578173433544","authorId":"3576578173433544","name":"Trader404","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576578173433544","authorIdStr":"3576578173433544"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9026438796","repostId":"2237835951","repostType":4,"isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9021620922,"gmtCreate":1653048463066,"gmtModify":1676535214171,"author":{"id":"3576578173433544","authorId":"3576578173433544","name":"Trader404","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576578173433544","authorIdStr":"3576578173433544"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021620922","repostId":"1136827320","repostType":4,"repost":{"id":"1136827320","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1653048212,"share":"https://ttm.financial/m/news/1136827320?lang=&edition=fundamental","pubTime":"2022-05-20 20:03","market":"us","language":"en","title":"Pre-Bell｜Nasdaq and S&P 500 Futures Rebounded Over 1%; Ross Stores Slumped Nearly 30%","url":"https://stock-news.laohu8.com/highlight/detail?id=1136827320","media":"Tiger Newspress","summary":"U.S. stock futures bounced early on Friday cutting into losses from earlier in the week that has sen","content":"<html><head></head><body><p>U.S. stock futures bounced early on Friday cutting into losses from earlier in the week that has sent the S&amp;P 500 to the cusp of a bear market and the Dow Jones Jones Industrial average on pace for its eighth negative week in a row.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were up 266 points, or 0.85%, S&amp;P 500 e-minis were up 41.75 points, or 1.07%, and Nasdaq 100 e-minis were up 171.75 points, or 1.45%.</p><p><img src=\"https://static.tigerbbs.com/985370b49ce51c9bee7d87e3ece497df\" tg-width=\"317\" tg-height=\"133\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/FL\">Foot Locker</a></b> – The athletic footwear and apparel retailer reported an adjusted quarterly profit of $1.60 per share, 5 cents above estimates. Revenue was slightly below forecasts, and same-store sales fell by less than half of what was anticipated by analysts. Foot Locker shares added 1% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/DE\">John Deere</a></b> – The heavy equipment maker’s stock fell 4.4% in premarket trading after quarterly revenue missed Street forecasts. Deere beat earnings estimates by 10 cents, reporting $6.81 per share, as a jump in worldwide crop prices helped spur demand. The company also raised its annual profit outlook.</p><p><b><a href=\"https://laohu8.com/S/DASH\">DoorDash, Inc.</a></b> – Door Dash announced the authorization of a $400 million stock buyback program. The food delivery company said the move will offset dilution stemming from its employee stock compensation program. The stock added 2.2% in premarket action.</p><p><b><a href=\"https://laohu8.com/S/VFC\">VF Corp</a></b> – VF shares added 2.6% in premarket trading despite slight misses on the top and bottom lines for the latest quarter. The company behind apparel brands, such as North Face, Vans and Timberland, raised its full-year earnings forecast, based on expectations that there will be no additional Covid-19 lockdowns that impact production and that inflation will not worsen.</p><p><b><a href=\"https://laohu8.com/S/DECK\">Deckers Outdoor</a></b> – Deckers surged 13.8% in the premarket after the footwear company beat top and bottom-line estimates for its latest quarter. Deckers earned $2.51 per share, compared with a consensus estimate of $1.32, as net income more than doubled from a year earlier.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b> – Boeing rose 2% in premarket action following the successful launch of its Starliner aircraft, which is now heading toward the International Space Station. The uncrewed flight came after months of delays.</p><p><b><a href=\"https://laohu8.com/S/ROST\">Ross</a></b> – Ross Stores slumped 27.4% in the premarket after the discount retailer posted top and bottom-line misses for its latest quarter and gave a downbeat forecast. Ross Stores said inflationary pressures have been exacerbated by the Ukraine conflict and that it is issuing conservative guidance due to uncertain macroeconomic conditions.</p><p><b><a href=\"https://laohu8.com/S/PANW\">Palo Alto Networks</a></b> – Palo Alto Networks rallied 12.1% in premarket trading after the cybersecurity company reported better-than-expected profit and revenue for its latest quarter. It also raised its full-year guidance for the third time.</p><p><b><a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a></b> – Shares of the semiconductor manufacturing equipment maker fell 1.2% in the premarket after missing top and bottom-line estimates for its latest quarter. The company also issued a weaker-than-expected forecast. Supply chain issues for Applied Materials have been amplified by the Covid-19 lockdowns in China.</p><p><b><a href=\"https://laohu8.com/S/OLLI\">Ollie&#39;s Bargain Outlet</a></b> – The discount retailer’s shares jumped 6.4% in premarket trading after Bank of America Securities double-upgraded the stock to “buy” from “underperform.” BofA based its recommendation on a meaningful improvement in the supply of closeout items, due to over-ordering by retailers and a drop-off in consumer spending on durable goods.</p><p><b>Market News</b></p><p>The People&#39;s Bank of China said the five-year loan prime rate was cut to 4.45%, down from 4.6% previously. The cut was unexpected after the central bank kept the key policy rate--the medium-term lending facility that is used to price LPR by commercial banks--unchanged earlier in May.</p><p>In another twist of the topsy-turvy <b><a href=\"https://laohu8.com/S/TWTR\">Twitter</a></b> saga, Twitter officials told employees that Tesla CEO Elon Musk’s deal to buy the social media platform is still on. That had Twitter investors feeling a little bit better.</p><p>SpaceX founder and CEO Elon Musk said in a tweet late Thursday that “wild accusations” against him are not true. He did not explain what those accusations were. But his response came after a Business Insider report on Thursday said the aerospace company had paid $250,000 in severance to a flight attendant who accused the billionaire of sexual misconduct.</p><p><b><a href=\"https://laohu8.com/S/WMT\">Wal-Mart</a></b>-owned retailer Flipkart and listed healthcare chain Apollo Hospitals Enterprise are among potential strategic investors that have signed non-disclosure agreements with Metropolis, while <b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> has held preliminary discussions.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b>&#39;s new Starliner capsule was set for launch Thursday (May 19) on a do-over uncrewed test flight to the International Space Station, aiming to deliver the company a much-needed success after more than 2 years of delays and costly engineering setbacks.</p><p>Crown Resorts Ltd approved a $6.3 billion buyout by U.S. private equity giant <b><a href=\"https://laohu8.com/S/BX\">Blackstone Group LP</a></b> on Friday, with 99.91% of the votes cast at its scheme meeting in favour of the deal.</p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b> downplayed a report that said it was looking at building a chip manufacturing plant in Singapore, noting it did not have any specific plans at the moment.</p><p><b><a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a></b> started trading in Singapore on Friday, the third exchange on which investors can trade the stock. It began trading at $16.90 and closed at $17.3 on the Singapore exchange.</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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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPre-Bell｜Nasdaq and S&P 500 Futures Rebounded Over 1%; Ross Stores Slumped Nearly 30%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-05-20 20:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stock futures bounced early on Friday cutting into losses from earlier in the week that has sent the S&amp;P 500 to the cusp of a bear market and the Dow Jones Jones Industrial average on pace for its eighth negative week in a row.</p><p><b>Market Snapshot</b></p><p>At 7:50 a.m. ET, Dow e-minis were up 266 points, or 0.85%, S&amp;P 500 e-minis were up 41.75 points, or 1.07%, and Nasdaq 100 e-minis were up 171.75 points, or 1.45%.</p><p><img src=\"https://static.tigerbbs.com/985370b49ce51c9bee7d87e3ece497df\" tg-width=\"317\" tg-height=\"133\" width=\"100%\" height=\"auto\"/></p><p><b>Pre-Market Movers</b></p><p><b><a href=\"https://laohu8.com/S/FL\">Foot Locker</a></b> – The athletic footwear and apparel retailer reported an adjusted quarterly profit of $1.60 per share, 5 cents above estimates. Revenue was slightly below forecasts, and same-store sales fell by less than half of what was anticipated by analysts. Foot Locker shares added 1% in the premarket.</p><p><b><a href=\"https://laohu8.com/S/DE\">John Deere</a></b> – The heavy equipment maker’s stock fell 4.4% in premarket trading after quarterly revenue missed Street forecasts. Deere beat earnings estimates by 10 cents, reporting $6.81 per share, as a jump in worldwide crop prices helped spur demand. The company also raised its annual profit outlook.</p><p><b><a href=\"https://laohu8.com/S/DASH\">DoorDash, Inc.</a></b> – Door Dash announced the authorization of a $400 million stock buyback program. The food delivery company said the move will offset dilution stemming from its employee stock compensation program. The stock added 2.2% in premarket action.</p><p><b><a href=\"https://laohu8.com/S/VFC\">VF Corp</a></b> – VF shares added 2.6% in premarket trading despite slight misses on the top and bottom lines for the latest quarter. The company behind apparel brands, such as North Face, Vans and Timberland, raised its full-year earnings forecast, based on expectations that there will be no additional Covid-19 lockdowns that impact production and that inflation will not worsen.</p><p><b><a href=\"https://laohu8.com/S/DECK\">Deckers Outdoor</a></b> – Deckers surged 13.8% in the premarket after the footwear company beat top and bottom-line estimates for its latest quarter. Deckers earned $2.51 per share, compared with a consensus estimate of $1.32, as net income more than doubled from a year earlier.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b> – Boeing rose 2% in premarket action following the successful launch of its Starliner aircraft, which is now heading toward the International Space Station. The uncrewed flight came after months of delays.</p><p><b><a href=\"https://laohu8.com/S/ROST\">Ross</a></b> – Ross Stores slumped 27.4% in the premarket after the discount retailer posted top and bottom-line misses for its latest quarter and gave a downbeat forecast. Ross Stores said inflationary pressures have been exacerbated by the Ukraine conflict and that it is issuing conservative guidance due to uncertain macroeconomic conditions.</p><p><b><a href=\"https://laohu8.com/S/PANW\">Palo Alto Networks</a></b> – Palo Alto Networks rallied 12.1% in premarket trading after the cybersecurity company reported better-than-expected profit and revenue for its latest quarter. It also raised its full-year guidance for the third time.</p><p><b><a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a></b> – Shares of the semiconductor manufacturing equipment maker fell 1.2% in the premarket after missing top and bottom-line estimates for its latest quarter. The company also issued a weaker-than-expected forecast. Supply chain issues for Applied Materials have been amplified by the Covid-19 lockdowns in China.</p><p><b><a href=\"https://laohu8.com/S/OLLI\">Ollie&#39;s Bargain Outlet</a></b> – The discount retailer’s shares jumped 6.4% in premarket trading after Bank of America Securities double-upgraded the stock to “buy” from “underperform.” BofA based its recommendation on a meaningful improvement in the supply of closeout items, due to over-ordering by retailers and a drop-off in consumer spending on durable goods.</p><p><b>Market News</b></p><p>The People&#39;s Bank of China said the five-year loan prime rate was cut to 4.45%, down from 4.6% previously. The cut was unexpected after the central bank kept the key policy rate--the medium-term lending facility that is used to price LPR by commercial banks--unchanged earlier in May.</p><p>In another twist of the topsy-turvy <b><a href=\"https://laohu8.com/S/TWTR\">Twitter</a></b> saga, Twitter officials told employees that Tesla CEO Elon Musk’s deal to buy the social media platform is still on. That had Twitter investors feeling a little bit better.</p><p>SpaceX founder and CEO Elon Musk said in a tweet late Thursday that “wild accusations” against him are not true. He did not explain what those accusations were. But his response came after a Business Insider report on Thursday said the aerospace company had paid $250,000 in severance to a flight attendant who accused the billionaire of sexual misconduct.</p><p><b><a href=\"https://laohu8.com/S/WMT\">Wal-Mart</a></b>-owned retailer Flipkart and listed healthcare chain Apollo Hospitals Enterprise are among potential strategic investors that have signed non-disclosure agreements with Metropolis, while <b><a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a></b> has held preliminary discussions.</p><p><b><a href=\"https://laohu8.com/S/BA\">Boeing</a></b>&#39;s new Starliner capsule was set for launch Thursday (May 19) on a do-over uncrewed test flight to the International Space Station, aiming to deliver the company a much-needed success after more than 2 years of delays and costly engineering setbacks.</p><p>Crown Resorts Ltd approved a $6.3 billion buyout by U.S. private equity giant <b><a href=\"https://laohu8.com/S/BX\">Blackstone Group LP</a></b> on Friday, with 99.91% of the votes cast at its scheme meeting in favour of the deal.</p><p><b><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a></b> downplayed a report that said it was looking at building a chip manufacturing plant in Singapore, noting it did not have any specific plans at the moment.</p><p><b><a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a></b> started trading in Singapore on Friday, the third exchange on which investors can trade the stock. It began trading at $16.90 and closed at $17.3 on the Singapore exchange.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136827320","content_text":"U.S. stock futures bounced early on Friday cutting into losses from earlier in the week that has sent the S&P 500 to the cusp of a bear market and the Dow Jones Jones Industrial average on pace for its eighth negative week in a row.Market SnapshotAt 7:50 a.m. ET, Dow e-minis were up 266 points, or 0.85%, S&P 500 e-minis were up 41.75 points, or 1.07%, and Nasdaq 100 e-minis were up 171.75 points, or 1.45%.Pre-Market MoversFoot Locker – The athletic footwear and apparel retailer reported an adjusted quarterly profit of $1.60 per share, 5 cents above estimates. Revenue was slightly below forecasts, and same-store sales fell by less than half of what was anticipated by analysts. Foot Locker shares added 1% in the premarket.John Deere – The heavy equipment maker’s stock fell 4.4% in premarket trading after quarterly revenue missed Street forecasts. Deere beat earnings estimates by 10 cents, reporting $6.81 per share, as a jump in worldwide crop prices helped spur demand. The company also raised its annual profit outlook.DoorDash, Inc. – Door Dash announced the authorization of a $400 million stock buyback program. The food delivery company said the move will offset dilution stemming from its employee stock compensation program. The stock added 2.2% in premarket action.VF Corp – VF shares added 2.6% in premarket trading despite slight misses on the top and bottom lines for the latest quarter. The company behind apparel brands, such as North Face, Vans and Timberland, raised its full-year earnings forecast, based on expectations that there will be no additional Covid-19 lockdowns that impact production and that inflation will not worsen.Deckers Outdoor – Deckers surged 13.8% in the premarket after the footwear company beat top and bottom-line estimates for its latest quarter. Deckers earned $2.51 per share, compared with a consensus estimate of $1.32, as net income more than doubled from a year earlier.Boeing – Boeing rose 2% in premarket action following the successful launch of its Starliner aircraft, which is now heading toward the International Space Station. The uncrewed flight came after months of delays.Ross – Ross Stores slumped 27.4% in the premarket after the discount retailer posted top and bottom-line misses for its latest quarter and gave a downbeat forecast. Ross Stores said inflationary pressures have been exacerbated by the Ukraine conflict and that it is issuing conservative guidance due to uncertain macroeconomic conditions.Palo Alto Networks – Palo Alto Networks rallied 12.1% in premarket trading after the cybersecurity company reported better-than-expected profit and revenue for its latest quarter. It also raised its full-year guidance for the third time.Applied Materials – Shares of the semiconductor manufacturing equipment maker fell 1.2% in the premarket after missing top and bottom-line estimates for its latest quarter. The company also issued a weaker-than-expected forecast. Supply chain issues for Applied Materials have been amplified by the Covid-19 lockdowns in China.Ollie's Bargain Outlet – The discount retailer’s shares jumped 6.4% in premarket trading after Bank of America Securities double-upgraded the stock to “buy” from “underperform.” BofA based its recommendation on a meaningful improvement in the supply of closeout items, due to over-ordering by retailers and a drop-off in consumer spending on durable goods.Market NewsThe People's Bank of China said the five-year loan prime rate was cut to 4.45%, down from 4.6% previously. The cut was unexpected after the central bank kept the key policy rate--the medium-term lending facility that is used to price LPR by commercial banks--unchanged earlier in May.In another twist of the topsy-turvy Twitter saga, Twitter officials told employees that Tesla CEO Elon Musk’s deal to buy the social media platform is still on. That had Twitter investors feeling a little bit better.SpaceX founder and CEO Elon Musk said in a tweet late Thursday that “wild accusations” against him are not true. He did not explain what those accusations were. But his response came after a Business Insider report on Thursday said the aerospace company had paid $250,000 in severance to a flight attendant who accused the billionaire of sexual misconduct.Wal-Mart-owned retailer Flipkart and listed healthcare chain Apollo Hospitals Enterprise are among potential strategic investors that have signed non-disclosure agreements with Metropolis, while Amazon.com has held preliminary discussions.Boeing's new Starliner capsule was set for launch Thursday (May 19) on a do-over uncrewed test flight to the International Space Station, aiming to deliver the company a much-needed success after more than 2 years of delays and costly engineering setbacks.Crown Resorts Ltd approved a $6.3 billion buyout by U.S. private equity giant Blackstone Group LP on Friday, with 99.91% of the votes cast at its scheme meeting in favour of the deal.Taiwan Semiconductor Manufacturing downplayed a report that said it was looking at building a chip manufacturing plant in Singapore, noting it did not have any specific plans at the moment.NIO Inc. started trading in Singapore on Friday, the third exchange on which investors can trade the stock. It began trading at $16.90 and closed at $17.3 on the Singapore exchange.","news_type":1},"isVote":1,"tweetType":1,"viewCount":480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9021062493,"gmtCreate":1652975457712,"gmtModify":1676535200234,"author":{"id":"3576578173433544","authorId":"3576578173433544","name":"Trader404","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576578173433544","authorIdStr":"3576578173433544"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021062493","repostId":"1152395035","repostType":4,"repost":{"id":"1152395035","kind":"news","pubTimestamp":1652974277,"share":"https://ttm.financial/m/news/1152395035?lang=&edition=fundamental","pubTime":"2022-05-19 23:31","market":"us","language":"en","title":"Tesla: Never Bought it and Never Will","url":"https://stock-news.laohu8.com/highlight/detail?id=1152395035","media":"InvestorPlace","summary":"Tesla stock is overvalued and Chief Executive Officer  Elon Musk is bored.The company has yet to begin planning on a true mass market car.Tesla loses share wherever the middle class gets into the electric revolution.I am not a fan ofTesla or TSLA stock.I question the basic bull thesis. Having taken the luxury end of the market, the theory goes that Tesla can take the mass market by simply scaling up.But in markets where there is mass market demand forelectric vehicles , like China and Europe, Te","content":"<html><head></head><body><ul><li><b>Tesla</b>(<b><u>TSLA</u></b>) stock is overvalued and Chief Executive Officer (CEO) Elon Musk is bored.</li><li>The company has yet to begin planning on a true mass market car.</li><li>Tesla loses share wherever the middle class gets into the electric revolution.</li></ul><p>I am not a fan of <b>Tesla</b>(NASDAQ:<b><u>TSLA</u></b>) or TSLA stock.</p><p>I question the basic bull thesis. Having taken the luxury end of the market, the theory goes that Tesla can take the mass market by simply scaling up.</p><p>But in markets where there is mass market demand for electric vehicles (EVs), like China and Europe, Tesla’s market share is dropping. The mass market doesn’t need huge batteries, fancy fittings, or a $50,000 price tag. Why pay 18 times revenue to own Cadillac when <b>Chevrolet</b> is what the people want?</p><p>Dances With Bulls</p><p>If I am right, Tesla is overvalued. Tesla is getting fat on the cream of the market when any dairyman knows the big sales are in low fat milk.</p><p>Tesla is indeed getting fat. Tesla bears turned into bulls after first quarter numbers came out. Tesla earned $3.3 billion, $2.86/share under GAAP, on first quarter revenue of $18.7 billion. Auto revenues were 87% ahead of a year earlier. But they were just 5% ahead of the previous quarter.</p><p>Bulls think Tesla is <b>Apple</b>(NASDAQ:<b><u>AAPL</u></b>), that it has the market sewn up. They say there will be haves and have-nots in the new tech market and Tesla will be one of the haves. They see continuing supply chain worries and assume Tesla will surmount them while rivals won’t.</p><p>Tesla has taught its industry many lessons, but the lessons are being learned. Buy a <b>Toyota</b>(NYSE:<b><u>TM</u></b>) today and you’ll be faced with a host of services aimed at tying you to the brand. For car dealers, service and support are where the money is. Even <b>General Motors</b>(NYSE:<b><u>GM</u></b>) has learned that you build your full line off one platform to keep costs down and focus on battery supply.</p><p>Despite Tesla’s pretensions, in other words, it’s a car company. No car company is worth 18 times its revenue.</p><p>The Great Replacement</p><p>A walk around my middle-class neighborhood tells the story. The “Great Replacement” today isn’t people quitting their jobs. It’s replacing America’s gas-guzzling fleet with EVs.</p><p>Tesla made the big jump look cool. We have two Teslas on my block. But for most people it’s still a question of small steps. That’s why I recently became the fifth homeowner on my street to buy a Toyota hybrid. It cuts my gas use in half, but I don’t have to worry about finding a plug in the middle of West Virginia. It also cost half what a Tesla costs.</p><p>Cars with plugs, like Tesla, still represent just 5% of the U.S. car market. Hybrids are where the growth is in today’s mass market, which is dominated by Japanese, Korean and Chinese names.</p><p>Tesla’s market share in China is falling. In Europe, <b>Volkswagen</b>(OTCMKTS:<b><u>VWAGY</u></b>) and <b>Stellantis</b>(NYSE:<b><u>STLA</u></b>) now have bigger shares of the plug-in market.</p><p>The Bottom Line on TSLA Stock</p><p>Bulls look at CEO Elon Musk’s effort to buy <b>Twitter</b>(NASDAQ:<b><u>TWTR</u></b>) and worry that might distract him. They even bought Tesla when it seemed he might back off the Twitter purchase.</p><p>The Twitter saga tells me Musk is bored. Tesla is being run by car guys. The great strategic cut-and-thrust is mostly over. He wants to do something else. So don’t buy or sell Tesla stock based on Musk.</p><p>Look at the fundamentals. In the near term, they’re great, but you’re overpaying. In the longer run, they’re troubled, which is why even tech whisperer Cathie Woods has been loading up on GM stock.</p><p>My bottom line: Don’t go near Tesla until it can make a Chevy.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: Never Bought it and Never Will</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: Never Bought it and Never Will\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-19 23:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/05/tsla-stock-never-bought-it-and-never-will/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla(TSLA) stock is overvalued and Chief Executive Officer (CEO) Elon Musk is bored.The company has yet to begin planning on a true mass market car.Tesla loses share wherever the middle class gets ...</p>\n\n<a href=\"https://investorplace.com/2022/05/tsla-stock-never-bought-it-and-never-will/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://investorplace.com/2022/05/tsla-stock-never-bought-it-and-never-will/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152395035","content_text":"Tesla(TSLA) stock is overvalued and Chief Executive Officer (CEO) Elon Musk is bored.The company has yet to begin planning on a true mass market car.Tesla loses share wherever the middle class gets into the electric revolution.I am not a fan of Tesla(NASDAQ:TSLA) or TSLA stock.I question the basic bull thesis. Having taken the luxury end of the market, the theory goes that Tesla can take the mass market by simply scaling up.But in markets where there is mass market demand for electric vehicles (EVs), like China and Europe, Tesla’s market share is dropping. The mass market doesn’t need huge batteries, fancy fittings, or a $50,000 price tag. Why pay 18 times revenue to own Cadillac when Chevrolet is what the people want?Dances With BullsIf I am right, Tesla is overvalued. Tesla is getting fat on the cream of the market when any dairyman knows the big sales are in low fat milk.Tesla is indeed getting fat. Tesla bears turned into bulls after first quarter numbers came out. Tesla earned $3.3 billion, $2.86/share under GAAP, on first quarter revenue of $18.7 billion. Auto revenues were 87% ahead of a year earlier. But they were just 5% ahead of the previous quarter.Bulls think Tesla is Apple(NASDAQ:AAPL), that it has the market sewn up. They say there will be haves and have-nots in the new tech market and Tesla will be one of the haves. They see continuing supply chain worries and assume Tesla will surmount them while rivals won’t.Tesla has taught its industry many lessons, but the lessons are being learned. Buy a Toyota(NYSE:TM) today and you’ll be faced with a host of services aimed at tying you to the brand. For car dealers, service and support are where the money is. Even General Motors(NYSE:GM) has learned that you build your full line off one platform to keep costs down and focus on battery supply.Despite Tesla’s pretensions, in other words, it’s a car company. No car company is worth 18 times its revenue.The Great ReplacementA walk around my middle-class neighborhood tells the story. The “Great Replacement” today isn’t people quitting their jobs. It’s replacing America’s gas-guzzling fleet with EVs.Tesla made the big jump look cool. We have two Teslas on my block. But for most people it’s still a question of small steps. That’s why I recently became the fifth homeowner on my street to buy a Toyota hybrid. It cuts my gas use in half, but I don’t have to worry about finding a plug in the middle of West Virginia. It also cost half what a Tesla costs.Cars with plugs, like Tesla, still represent just 5% of the U.S. car market. Hybrids are where the growth is in today’s mass market, which is dominated by Japanese, Korean and Chinese names.Tesla’s market share in China is falling. In Europe, Volkswagen(OTCMKTS:VWAGY) and Stellantis(NYSE:STLA) now have bigger shares of the plug-in market.The Bottom Line on TSLA StockBulls look at CEO Elon Musk’s effort to buy Twitter(NASDAQ:TWTR) and worry that might distract him. They even bought Tesla when it seemed he might back off the Twitter purchase.The Twitter saga tells me Musk is bored. Tesla is being run by car guys. The great strategic cut-and-thrust is mostly over. He wants to do something else. So don’t buy or sell Tesla stock based on Musk.Look at the fundamentals. In the near term, they’re great, but you’re overpaying. In the longer run, they’re troubled, which is why even tech whisperer Cathie Woods has been loading up on GM stock.My bottom line: Don’t go near Tesla until it can make a Chevy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":211,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}