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LalaLand
LalaLand
·
2022-11-25
If the trust is fading, how can he recover the crypto world.
Binance to Commit $1B for Crypto Recovery Initiative
Binance Holdings is aiming for a roughly$1B fund for the potential purchase of distressed assets in
Binance to Commit $1B for Crypto Recovery Initiative
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LalaLand
LalaLand
·
2022-11-12
[Miser]
US STOCKS-Nasdaq and S&P 500 End Higher, Fueled By Inflation Optimism
* Growth stocks lead value, Nasdaq rallies* Nasdaq and S&P 500 gain for second dayNov 11 (Reuters) -
US STOCKS-Nasdaq and S&P 500 End Higher, Fueled By Inflation Optimism
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LalaLand
LalaLand
·
2022-09-30
Well...
Fed Officials Reinforce Rate-Hike Calls, Say Markets Got Message
Bullard says markets have ‘digested’ message on rate hikesMester says rates are ‘still not even in r
Fed Officials Reinforce Rate-Hike Calls, Say Markets Got Message
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LalaLand
LalaLand
·
2022-09-28
Hopefully the bull Market comes soon
Sorry, this post has been deleted
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LalaLand
LalaLand
·
2022-09-19
$SPDR S&P 500 ETF Trust(SPY)$
When will you be bullish again?
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LalaLand
LalaLand
·
2022-09-16
$SPDR S&P 500 ETF Trust(SPY)$
Invest in ETFs and get average 10% annual return. They said...Well...There would be no 10% return this year
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LalaLand
LalaLand
·
2022-09-12
Anyone holding macdonald for long term?
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LalaLand
LalaLand
·
2022-09-11
Interesting read
A Strong Market Rally Could Be Just Weeks Away If the U.S. Midterm Elections Can Put Anxious Stock Investors at Ease
If the U.S. midterm election cycle this year is like past ones, the stock market will carve out an i
A Strong Market Rally Could Be Just Weeks Away If the U.S. Midterm Elections Can Put Anxious Stock Investors at Ease
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LalaLand
LalaLand
·
2022-09-11
Like please 🥺
How a CEO Rescued a Big Bet on Big Oil; "There Were a Lot of Doubters"
Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oi
How a CEO Rescued a Big Bet on Big Oil; "There Were a Lot of Doubters"
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LalaLand
LalaLand
·
2022-09-10
$Tesla Motors(TSLA)$
Good time to invest in Tesla now?
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}\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\">\nBinance to Commit $1B for Crypto Recovery Initiative\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-25 07:46 GMT+8 <a href=https://seekingalpha.com/news/3911272-binance-to-commit-1b-for-crypto-recovery-initiative><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Binance Holdings is aiming for a roughly$1B fund for the potential purchase of distressed assets in the digital-asset sector and will make another bid for bankrupt lender Voyager Digital, its CEO ...</p>\n\n<a href=\"https://seekingalpha.com/news/3911272-binance-to-commit-1b-for-crypto-recovery-initiative\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3911272-binance-to-commit-1b-for-crypto-recovery-initiative","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189351093","content_text":"Binance Holdings is aiming for a roughly$1B fund for the potential purchase of distressed assets in the digital-asset sector and will make another bid for bankrupt lender Voyager Digital, its CEO Changpeng Zhao said.The move comes at a time when the crypto market is teetering from the collapse of FTX, which is seeking Chapter 11 bankruptcy protection in the United States.Binance said it intends to ramp up its commitment amount to $2B in the near future depending on need.This year’s deep crypto rout has lopped about $80B off Zhao’s personal fortune but at $15B it still far exceeds anyone else in crypto, according to the Bloomberg Billionaires Index.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9960472994,"gmtCreate":1668237177718,"gmtModify":1676538033114,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"[Miser] ","listText":"[Miser] ","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9960472994","repostId":"2282487043","repostType":4,"repost":{"id":"2282487043","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1668213163,"share":"https://ttm.financial/m/news/2282487043?lang=en_US&edition=fundamental","pubTime":"2022-11-12 08:32","market":"us","language":"en","title":"US STOCKS-Nasdaq and S&P 500 End Higher, Fueled By Inflation Optimism","url":"https://stock-news.laohu8.com/highlight/detail?id=2282487043","media":"Reuters","summary":"* Growth stocks lead value, Nasdaq rallies* Nasdaq and S&P 500 gain for second dayNov 11 (Reuters) -","content":"<html><head></head><body><p>* Growth stocks lead value, Nasdaq rallies</p><p>* Nasdaq and S&P 500 gain for second day</p><p>Nov 11 (Reuters) - The S&P 500 and Nasdaq ended higher on Friday, extending a rally started the day before after a soft inflation reading raised hopes the Federal Reserve would get less aggressive with U.S. interest rate hikes.</p><p>Amazon jumped, with Apple and Microsoft also making gains and contributing to the Nasdaq's strong gain.</p><p>On Thursday, the S&P 500 and the Nasdaq racked up their biggest daily percentage gains in more than 2-1/2 years as annual inflation slipped below 8% for the first time in eight months.</p><p>Declines in healthcare stocks weighed on the Dow Jones Industrial Average, with UnitedHealth Group down for the day.</p><p>"What we're really seeing today is simply a follow-through on yesterday. There's a lot of cash sitting on the sidelines that is being put to work," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.</p><p>"Perhaps it signals some type of bottom being put in the market, some type of line drawn in the sand. But even if we put in a bottom, we're a long way away from setting new highs,” Ghriskey said.</p><p>Investors see an 81% chance of a 50-basis point rate hike in December and a 19% chance of a 75-basis point hike, according to CME Fedwatch tool.</p><p>Adding some nervousness on Wall Street, crypto exchange FTX said it would start U.S. bankruptcy proceedings and that CEO Sam Bankman-Fried resigned due to a liquidity crisis that prompted intervention from regulators around the world.</p><p>The S&P 500 gained 36.56 points, or 0.92%, to end at 3,992.93 points, while the Nasdaq Composite gained 209.18 points, or 1.88%, to 11,323.33. The Dow Jones Industrial Average rose 32.49 points, or 0.1%, to 33,747.86.</p><p>Worries about an economic downturn have hammered Wall Street this year. The S&P 500 remains down about 16% year to date, on course for its biggest annual decline since 2008.</p><p>U.S.-listed shares of Chinese companies rose, with Alibaba Group Holding Ltd gaining after China eased some of its strict COVID-19 rules.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Nasdaq and S&P 500 End Higher, Fueled By Inflation Optimism</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Nasdaq and S&P 500 End Higher, Fueled By Inflation Optimism\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-11-12 08:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Growth stocks lead value, Nasdaq rallies</p><p>* Nasdaq and S&P 500 gain for second day</p><p>Nov 11 (Reuters) - The S&P 500 and Nasdaq ended higher on Friday, extending a rally started the day before after a soft inflation reading raised hopes the Federal Reserve would get less aggressive with U.S. interest rate hikes.</p><p>Amazon jumped, with Apple and Microsoft also making gains and contributing to the Nasdaq's strong gain.</p><p>On Thursday, the S&P 500 and the Nasdaq racked up their biggest daily percentage gains in more than 2-1/2 years as annual inflation slipped below 8% for the first time in eight months.</p><p>Declines in healthcare stocks weighed on the Dow Jones Industrial Average, with UnitedHealth Group down for the day.</p><p>"What we're really seeing today is simply a follow-through on yesterday. There's a lot of cash sitting on the sidelines that is being put to work," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.</p><p>"Perhaps it signals some type of bottom being put in the market, some type of line drawn in the sand. But even if we put in a bottom, we're a long way away from setting new highs,” Ghriskey said.</p><p>Investors see an 81% chance of a 50-basis point rate hike in December and a 19% chance of a 75-basis point hike, according to CME Fedwatch tool.</p><p>Adding some nervousness on Wall Street, crypto exchange FTX said it would start U.S. bankruptcy proceedings and that CEO Sam Bankman-Fried resigned due to a liquidity crisis that prompted intervention from regulators around the world.</p><p>The S&P 500 gained 36.56 points, or 0.92%, to end at 3,992.93 points, while the Nasdaq Composite gained 209.18 points, or 1.88%, to 11,323.33. The Dow Jones Industrial Average rose 32.49 points, or 0.1%, to 33,747.86.</p><p>Worries about an economic downturn have hammered Wall Street this year. The S&P 500 remains down about 16% year to date, on course for its biggest annual decline since 2008.</p><p>U.S.-listed shares of Chinese companies rose, with Alibaba Group Holding Ltd gaining after China eased some of its strict COVID-19 rules.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UNH":"联合健康",".DJI":"道琼斯","MSFT":"微软","AAPL":"苹果",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","AMZN":"亚马逊","BABA":"阿里巴巴"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2282487043","content_text":"* Growth stocks lead value, Nasdaq rallies* Nasdaq and S&P 500 gain for second dayNov 11 (Reuters) - The S&P 500 and Nasdaq ended higher on Friday, extending a rally started the day before after a soft inflation reading raised hopes the Federal Reserve would get less aggressive with U.S. interest rate hikes.Amazon jumped, with Apple and Microsoft also making gains and contributing to the Nasdaq's strong gain.On Thursday, the S&P 500 and the Nasdaq racked up their biggest daily percentage gains in more than 2-1/2 years as annual inflation slipped below 8% for the first time in eight months.Declines in healthcare stocks weighed on the Dow Jones Industrial Average, with UnitedHealth Group down for the day.\"What we're really seeing today is simply a follow-through on yesterday. There's a lot of cash sitting on the sidelines that is being put to work,\" said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.\"Perhaps it signals some type of bottom being put in the market, some type of line drawn in the sand. But even if we put in a bottom, we're a long way away from setting new highs,” Ghriskey said.Investors see an 81% chance of a 50-basis point rate hike in December and a 19% chance of a 75-basis point hike, according to CME Fedwatch tool.Adding some nervousness on Wall Street, crypto exchange FTX said it would start U.S. bankruptcy proceedings and that CEO Sam Bankman-Fried resigned due to a liquidity crisis that prompted intervention from regulators around the world.The S&P 500 gained 36.56 points, or 0.92%, to end at 3,992.93 points, while the Nasdaq Composite gained 209.18 points, or 1.88%, to 11,323.33. The Dow Jones Industrial Average rose 32.49 points, or 0.1%, to 33,747.86.Worries about an economic downturn have hammered Wall Street this year. The S&P 500 remains down about 16% year to date, on course for its biggest annual decline since 2008.U.S.-listed shares of Chinese companies rose, with Alibaba Group Holding Ltd gaining after China eased some of its strict COVID-19 rules.","news_type":1,"symbols_score_info":{".IXIC":0.9,"MSFT":0.9,"AAPL":0.9,"BABA":0.9,".DJI":0.9,".SPX":0.6,"UNH":0.9,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":3427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916019556,"gmtCreate":1664486524975,"gmtModify":1676537462121,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"Well...","listText":"Well...","text":"Well...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916019556","repostId":"1152954810","repostType":4,"repost":{"id":"1152954810","kind":"news","pubTimestamp":1664466614,"share":"https://ttm.financial/m/news/1152954810?lang=en_US&edition=fundamental","pubTime":"2022-09-29 23:50","market":"us","language":"en","title":"Fed Officials Reinforce Rate-Hike Calls, Say Markets Got Message","url":"https://stock-news.laohu8.com/highlight/detail?id=1152954810","media":"Bloomberg","summary":"Bullard says markets have ‘digested’ message on rate hikesMester says rates are ‘still not even in r","content":"<div>\n<p>Bullard says markets have ‘digested’ message on rate hikesMester says rates are ‘still not even in restricted territory’Federal Reserve officials reiterated Thursday that they will keep raising ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-09-29/fed-s-bullard-says-markets-have-gotten-the-message-on-rate-hikes\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Officials Reinforce Rate-Hike Calls, Say Markets Got Message</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\">\nFed Officials Reinforce Rate-Hike Calls, Say Markets Got Message\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-29 23:50 GMT+8 <a href=https://www.bloomberg.com/news/articles/2022-09-29/fed-s-bullard-says-markets-have-gotten-the-message-on-rate-hikes><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bullard says markets have ‘digested’ message on rate hikesMester says rates are ‘still not even in restricted territory’Federal Reserve officials reiterated Thursday that they will keep raising ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-09-29/fed-s-bullard-says-markets-have-gotten-the-message-on-rate-hikes\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/news/articles/2022-09-29/fed-s-bullard-says-markets-have-gotten-the-message-on-rate-hikes","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152954810","content_text":"Bullard says markets have ‘digested’ message on rate hikesMester says rates are ‘still not even in restricted territory’Federal Reserve officials reiterated Thursday that they will keep raising interest rates to restrain high inflation, and that markets are now understanding the message.“If you look at the dots, it does look like the committee is expecting a fair amount of additional moves this year,” St. Louis Fed President James Bullard told a virtual emerging-market forum, referring to the bank’s so-called dot plot of projections. “I think that that was digested by markets and does seem to be the right interpretation.”Cleveland Fed chief Loretta Mester repeated that officials are resolute in their quest to increase rates to a level seen as restrictive.“Real interest rates -- judged by the expectations over the next year of inflation -- have to be in positive territory and held there for a time,” she said earlier in an interview on CNBC. “We’re still not even in restricted territory on the funds rate.”Fed officials raised interest rates by 75 basis points on Sept. 21 for the third straight meeting, bringing the target for the benchmark federal funds rate to a range of 3% to 3.25%.Their quarterly Summary of Economic Projections, or dot plot, shows a median forecast of rates reaching 4.4% by the end of this year, implying a further 1.25 percentage points of tightening over their remaining two meetings in November and December.Mester said her forecast is probably a bit above the median path because she sees inflation being persistent, based on her conversations with businesses, community development groups and other sources.“In my SEP I have inflation coming down, but we have to bring interest rates up to get that downward shift in inflation,” she said, adding that the US economy has so far been able to handle the higher interest rates.UK TurmoilShe drew a distinction between US markets and what is happening in the UK, where the Bank of England announced Wednesday that it would launch unlimited bond buying to address market dysfunction. When the Fed announced its bond purchases in the early months of the pandemic, it did so at a time when it was also lowering rates to support the economy, she said.The BOE faces some communication issues because it is lifting rates but needed to purchase assets, which is typically viewed as a method for easing monetary policy, in order to support financial stability, Mester said.“It’s a challenging situation for them,” Mester said. “For financial stability reasons and for market functioning reasons they had to go in and buy bonds.”“Market functioning is incredibly important because you won’t be able to hit any monetary policy goals if the markets aren’t functioning,” she said. “That’s different than worrying about volatility in the markets.” Mester said that so far, there had been no sign of dysfunction in US financial markets.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9918822461,"gmtCreate":1664363496153,"gmtModify":1676537440822,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"Hopefully the bull Market comes soon","listText":"Hopefully the bull Market comes soon","text":"Hopefully the bull Market comes soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9918822461","repostId":"2270831087","repostType":2,"isVote":1,"tweetType":1,"viewCount":2616,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9910130242,"gmtCreate":1663571783286,"gmtModify":1676537293125,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SPY\">$SPDR S&P 500 ETF Trust(SPY)$</a>When will you be bullish again? ","listText":"<a href=\"https://ttm.financial/S/SPY\">$SPDR S&P 500 ETF Trust(SPY)$</a>When will you be bullish again? ","text":"$SPDR S&P 500 ETF Trust(SPY)$When will you be bullish again?","images":[{"img":"https://community-static.tradeup.com/news/324fb302ea951a071104adbe52589f1d","width":"1080","height":"2285"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9910130242","isVote":1,"tweetType":1,"viewCount":2214,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9934402682,"gmtCreate":1663287486847,"gmtModify":1676537243343,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SPY\">$SPDR S&P 500 ETF Trust(SPY)$</a>Invest in ETFs and get average 10% annual return. They said...Well...There would be no 10% return this year ","listText":"<a href=\"https://ttm.financial/S/SPY\">$SPDR S&P 500 ETF Trust(SPY)$</a>Invest in ETFs and get average 10% annual return. They said...Well...There would be no 10% return this year ","text":"$SPDR S&P 500 ETF Trust(SPY)$Invest in ETFs and get average 10% annual return. They said...Well...There would be no 10% return this year","images":[{"img":"https://community-static.tradeup.com/news/1705840b86df38eea5ce44980a0d2dd1","width":"1080","height":"2478"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/9934402682","isVote":1,"tweetType":1,"viewCount":3782,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9932513212,"gmtCreate":1662954303636,"gmtModify":1676537170991,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"Anyone holding macdonald for long term?","listText":"Anyone holding macdonald for long term?","text":"Anyone holding macdonald for long term?","images":[{"img":"https://community-static.tradeup.com/news/75910a6f8db219d543d6c6aaefe220f5","width":"1080","height":"2533"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9932513212","isVote":1,"tweetType":1,"viewCount":2908,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9932989549,"gmtCreate":1662863234981,"gmtModify":1676537153049,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"Interesting read ","listText":"Interesting read ","text":"Interesting read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9932989549","repostId":"2266398293","repostType":4,"repost":{"id":"2266398293","kind":"highlight","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":1662857059,"share":"https://ttm.financial/m/news/2266398293?lang=en_US&edition=fundamental","pubTime":"2022-09-11 08:44","market":"us","language":"en","title":"A Strong Market Rally Could Be Just Weeks Away If the U.S. Midterm Elections Can Put Anxious Stock Investors at Ease","url":"https://stock-news.laohu8.com/highlight/detail?id=2266398293","media":"Dow Jones","summary":"If the U.S. midterm election cycle this year is like past ones, the stock market will carve out an i","content":"<html><head></head><body><p>If the U.S. midterm election cycle this year is like past ones, the stock market will carve out an important low right around Election Day in November.</p><p>That should give some hope to beleaguered investors whose stock holdings have suffered double-digit losses so far this year. A meaningful rally could be just a few weeks away.</p><p>I'm referring to the historical pattern in the stock market of pre-midterm weakness and post-midterm strength. This pattern is plotted in the chart below, which is based on the average July-December performance of the Dow Jones Industrial Average in the last 17 midterm election years (since 1954).</p><p><img src=\"https://static.tigerbbs.com/8db8dce7f85a1b3a6cc790f3a79ff21a\" tg-width=\"700\" tg-height=\"471\" width=\"100%\" height=\"auto\"/></p><p>Though the date of the average in this chart is in October, the actual lows in the historical record can come earlier or later. Much depends on when the stock market begins to anticipate the outcome of the midterms and therefore discounts it. A good guess is that the low this year will be later, given the uncertainty about the election outcome -- especially in the U.S. Senate.</p><p>It's always possible that the pre-midterm low will occur in advance of Election Day. It wouldn't be inconsistent with the historical record for this year's low to have occurred the day after Labor Day, in fact. As of Sept. 9, the S&P 500 was more than 4% higher than that low.</p><p>It's worth noting how remarkable it is for any pattern to emerge when averaging together many years worth of stock market gyrations. Though each year carves out a unique path, the highs and lows usually cancel each other out, leaving the average to be a gradual upward-sloping line. A pattern has to be quite pronounced in the historical data for a deviation to appear that is as stark as the one in the accompanying chart.</p><p>This pre- and post-midterm pattern is so pronounced that it is the source of the famous seasonal pattern known as the "Halloween Indicator," according to which the stock market is strongest between Oct. 31 and May 1 and weakest the other six months of the year. Yet take away the six months before- and after mid-term elections and the Halloween Indicator disappears.</p><p>The underlying data appear in the table below. The cell marked with a single asterisk (*) refers to the current six-month period, while the cell marked with a double asterisk (**) corresponds to the six-month period that begins at the end of October 2022.</p><p><img src=\"https://static.tigerbbs.com/200d68de48ef106579622d3fc32df9ff\" tg-width=\"945\" tg-height=\"302\" width=\"100%\" height=\"auto\"/></p><p>So if you are tempted to bet on the Halloween Indicator, your time is fast approaching. If you miss it, you won't have another chance until the 2026 midterms.</p><p>Credit for discovering that the Halloween Indicator traces to the months prior to and subsequent to the midterms goes to Terry Marsh, an emeritus finance professor at the University of California, Berkeley, and CEO of Quantal International, and Kam Fong Chan, a senior lecturer in finance at the University of Queensland in Australia. Their research into this pattern appeared in July 2021 in the Journal of Financial Economics.</p><p>The likely source of the pattern, according to the researchers, is the uncertainty that exists prior to the midterms and the resolution of that uncertainty after the election. They note that it appears not to matter which party dominates Congress prior to the midterms and which becomes the majority party afterwards. The pattern exists, they believe, because the stock market craves certainty, even when the source of that certainty may not be in accord with every investor's political preferences.</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>A Strong Market Rally Could Be Just Weeks Away If the U.S. Midterm Elections Can Put Anxious Stock Investors at Ease</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\">\nA Strong Market Rally Could Be Just Weeks Away If the U.S. Midterm Elections Can Put Anxious Stock Investors at Ease\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-09-11 08:44</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>If the U.S. midterm election cycle this year is like past ones, the stock market will carve out an important low right around Election Day in November.</p><p>That should give some hope to beleaguered investors whose stock holdings have suffered double-digit losses so far this year. A meaningful rally could be just a few weeks away.</p><p>I'm referring to the historical pattern in the stock market of pre-midterm weakness and post-midterm strength. This pattern is plotted in the chart below, which is based on the average July-December performance of the Dow Jones Industrial Average in the last 17 midterm election years (since 1954).</p><p><img src=\"https://static.tigerbbs.com/8db8dce7f85a1b3a6cc790f3a79ff21a\" tg-width=\"700\" tg-height=\"471\" width=\"100%\" height=\"auto\"/></p><p>Though the date of the average in this chart is in October, the actual lows in the historical record can come earlier or later. Much depends on when the stock market begins to anticipate the outcome of the midterms and therefore discounts it. A good guess is that the low this year will be later, given the uncertainty about the election outcome -- especially in the U.S. Senate.</p><p>It's always possible that the pre-midterm low will occur in advance of Election Day. It wouldn't be inconsistent with the historical record for this year's low to have occurred the day after Labor Day, in fact. As of Sept. 9, the S&P 500 was more than 4% higher than that low.</p><p>It's worth noting how remarkable it is for any pattern to emerge when averaging together many years worth of stock market gyrations. Though each year carves out a unique path, the highs and lows usually cancel each other out, leaving the average to be a gradual upward-sloping line. A pattern has to be quite pronounced in the historical data for a deviation to appear that is as stark as the one in the accompanying chart.</p><p>This pre- and post-midterm pattern is so pronounced that it is the source of the famous seasonal pattern known as the "Halloween Indicator," according to which the stock market is strongest between Oct. 31 and May 1 and weakest the other six months of the year. Yet take away the six months before- and after mid-term elections and the Halloween Indicator disappears.</p><p>The underlying data appear in the table below. The cell marked with a single asterisk (*) refers to the current six-month period, while the cell marked with a double asterisk (**) corresponds to the six-month period that begins at the end of October 2022.</p><p><img src=\"https://static.tigerbbs.com/200d68de48ef106579622d3fc32df9ff\" tg-width=\"945\" tg-height=\"302\" width=\"100%\" height=\"auto\"/></p><p>So if you are tempted to bet on the Halloween Indicator, your time is fast approaching. If you miss it, you won't have another chance until the 2026 midterms.</p><p>Credit for discovering that the Halloween Indicator traces to the months prior to and subsequent to the midterms goes to Terry Marsh, an emeritus finance professor at the University of California, Berkeley, and CEO of Quantal International, and Kam Fong Chan, a senior lecturer in finance at the University of Queensland in Australia. Their research into this pattern appeared in July 2021 in the Journal of Financial Economics.</p><p>The likely source of the pattern, according to the researchers, is the uncertainty that exists prior to the midterms and the resolution of that uncertainty after the election. They note that it appears not to matter which party dominates Congress prior to the midterms and which becomes the majority party afterwards. The pattern exists, they believe, because the stock market craves certainty, even when the source of that certainty may not be in accord with every investor's political preferences.</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":"2266398293","content_text":"If the U.S. midterm election cycle this year is like past ones, the stock market will carve out an important low right around Election Day in November.That should give some hope to beleaguered investors whose stock holdings have suffered double-digit losses so far this year. A meaningful rally could be just a few weeks away.I'm referring to the historical pattern in the stock market of pre-midterm weakness and post-midterm strength. This pattern is plotted in the chart below, which is based on the average July-December performance of the Dow Jones Industrial Average in the last 17 midterm election years (since 1954).Though the date of the average in this chart is in October, the actual lows in the historical record can come earlier or later. Much depends on when the stock market begins to anticipate the outcome of the midterms and therefore discounts it. A good guess is that the low this year will be later, given the uncertainty about the election outcome -- especially in the U.S. Senate.It's always possible that the pre-midterm low will occur in advance of Election Day. It wouldn't be inconsistent with the historical record for this year's low to have occurred the day after Labor Day, in fact. As of Sept. 9, the S&P 500 was more than 4% higher than that low.It's worth noting how remarkable it is for any pattern to emerge when averaging together many years worth of stock market gyrations. Though each year carves out a unique path, the highs and lows usually cancel each other out, leaving the average to be a gradual upward-sloping line. A pattern has to be quite pronounced in the historical data for a deviation to appear that is as stark as the one in the accompanying chart.This pre- and post-midterm pattern is so pronounced that it is the source of the famous seasonal pattern known as the \"Halloween Indicator,\" according to which the stock market is strongest between Oct. 31 and May 1 and weakest the other six months of the year. Yet take away the six months before- and after mid-term elections and the Halloween Indicator disappears.The underlying data appear in the table below. The cell marked with a single asterisk (*) refers to the current six-month period, while the cell marked with a double asterisk (**) corresponds to the six-month period that begins at the end of October 2022.So if you are tempted to bet on the Halloween Indicator, your time is fast approaching. If you miss it, you won't have another chance until the 2026 midterms.Credit for discovering that the Halloween Indicator traces to the months prior to and subsequent to the midterms goes to Terry Marsh, an emeritus finance professor at the University of California, Berkeley, and CEO of Quantal International, and Kam Fong Chan, a senior lecturer in finance at the University of Queensland in Australia. Their research into this pattern appeared in July 2021 in the Journal of Financial Economics.The likely source of the pattern, according to the researchers, is the uncertainty that exists prior to the midterms and the resolution of that uncertainty after the election. They note that it appears not to matter which party dominates Congress prior to the midterms and which becomes the majority party afterwards. The pattern exists, they believe, because the stock market craves certainty, even when the source of that certainty may not be in accord with every investor's political preferences.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2640,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9932980429,"gmtCreate":1662863120361,"gmtModify":1676537153023,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"Like please 🥺","listText":"Like please 🥺","text":"Like please 🥺","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9932980429","repostId":"2266817381","repostType":4,"repost":{"id":"2266817381","kind":"highlight","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":1662861434,"share":"https://ttm.financial/m/news/2266817381?lang=en_US&edition=fundamental","pubTime":"2022-09-11 09:57","market":"us","language":"en","title":"How a CEO Rescued a Big Bet on Big Oil; \"There Were a Lot of Doubters\"","url":"https://stock-news.laohu8.com/highlight/detail?id=2266817381","media":"Dow Jones","summary":"Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oi","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/be5cb2e717152d9e61504d0803ac3654\" tg-width=\"1278\" tg-height=\"1278\" referrerpolicy=\"no-referrer\"/>Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oil-and-gas peers. Struggling with debt from an ill-timed $38 billion deal, Chief ExecutiveVicki Hollubwas fending off activist investorCarl Icahn, who controlled two board seats.</p><p>Two years later, the company has emerged as the top performer in the S&P 500, and Ms. Hollub has traded Mr. Icahn, who sold all of his Occidental shares in March, for Warren Buffett, whoseBerkshire Hathaway Inc. now owns more than 20% of the company.</p><p>It was touch and go for a time. Months before the pandemic took hold, she implemented widespread layoffs. To stave off bankruptcy after oil prices collapsed in 2020, she slashed spending and nearly eliminated Occidental’s once-sacrosanct dividend—“the biggest and toughest decision that I made and I’ve ever made in my career,” she said in an interview.</p><p>Her 2019 acquisition of rival Anadarko Petroleum Corp., which Mr. Icahn called a “disaster,” has given Occidental the dominant position in the largest U.S. shale-oil field, the Permian Basin. Lifted by climbing oil prices, Occidental generated a record $4.35 billion in free cash flow and $3.7 billion in profit in the second quarter. It has cut its debt to $22 billion from nearly $36 billion a year ago.</p><p><img src=\"https://static.tigerbbs.com/61847881fba325e1dc5c7ed3280e29db\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/>Oil-and-gas producers have reported banner profits this year, even as a global energy crisis sparked by Russia’s invasion of Ukraine has threatened to derail European industries, left the U.K. facing its worst economic crisis since the 1970s and forced the Netherlands, Germany and India to rely heavily on coal to make up for a dearth of natural gas.</p><p>But Ms. Hollub, the first woman to be CEO of a major U.S. oil company, says she doesn’t feel vindicated. “I just feel relief,” she said. “There were a lot of doubters.”</p><p>Mr. Buffett has publicly lauded Ms. Hollub’s leadership. After she detailed the company’s future plans for analysts in February, Mr. Buffett told his own shareholders, “What Vicki Hollub was saying made nothing but sense.” Last month, Berkshire received regulatory approval to buy up to 50% of the oil company’s shares, spurring speculation it might seek to purchase all of Occidental.</p><p>Mr. Buffett declined to comment for this story. Ms. Hollub said she has “tremendous respect” for Mr. Buffett, adding that “he will be very beneficial for us as we go forward.” She declined to discuss the possibility of Berkshire purchasing the entire company.</p><p>Some former investors remain skeptical, saying a spike in oil prices has rescued the company, not Ms. Hollub.</p><p>“I have nothing personal against Vicki,” Mr. Icahn said in an interview. “However, that will never change my mind that she should not have made a bet-the-company investment by way of overpaying for Anadarko.”</p><p>A University of Alabama graduate, Ms. Hollub joined Occidental in 1982 and soon found herself running operations in Russia and Venezuela. She almost got laid off in 2003, butTodd Stevens, an executive at the company who had followed her rise, arranged for her to lead a team evaluating acreage in Colorado, said Mr. Stevens, who has since left.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bf58d7d767a23cfb352e019504bafa44\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Equipment used to process carbon dioxide, crude oil and water at an Occidental Petroleum project in Hobbs, N.M.PHOTO:ERNEST SCHEYDER/REUTERS</span></p><p>Ms. Hollub became known as a hard worker, once spending three weeks straightening out operations at a new gas field’s first well, said Donnie Enns, a former geophysicist who worked under her. “Nobody worked harder than Vicki,” he said. She also found time to run an office March Madness basketball pool.</p><p>After being named CEO of the company in 2016, Ms. Hollub departed from her predecessor’s preference for low-risk, “bolt-on” transactions. A little over a year into the job, she started courting Anadarko, an oil producer of comparable size, for a deal.</p><p>She outflanked largerChevronCorp. in a bidding war that riveted the oil patch, offering $5 billion more than her rival for Anadarko and its prized assets in the epicenter of U.S. shale production. Yet victory came at a steep cost.</p><p>Some of Occidental’s largest shareholders decried the deal—especially a pricey loan from Mr. Buffett in the form of $10 billion in preferred stock paying 8% annually in dividends, or $800 million. Ms. Hollub negotiated the funding at the eleventh hour after meeting with the financier in Omaha, Neb. Mr. Icahn, who first bought stock as the Anadarko bidding war came to a close, wrote to Occidental shareholders that “Buffett figuratively took her to the cleaners.”</p><p>Ms. Hollub acknowledged the deal damaged the company’s standing with some investors. “I was never offended at the fact that our shareholders were skeptical,” she said.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58cf5cd81991220ec1f42821cee2554b\" tg-width=\"639\" tg-height=\"959\" referrerpolicy=\"no-referrer\"/><span>Vicki Hollub said she never doubted the wisdom of the Anadarko acquisition.PHOTO:ANGELA OWENS/THE WALL STREET JOURNAL</span></p><p>But she said she never doubted the wisdom of the acquisition, even after it sparked an investor revolt that created an opportunity for Mr. Icahn.</p><p>Central to Ms. Hollub’s strategy was building on Occidental’s already-large position in the oil-rich Permian of West Texas and New Mexico. She believed purchasing and drilling a huge swath of new acreage, much of it near the company’s existing assets, would give Occidental economies of scale and allow it to outperform Permian rivals. Occidental, she said, was one of the most technologically advanced drillers in the field; it would turn Anadarko’s undeveloped assets into oil-gushing wells.</p><p>By the end of 2019, the oil producer said it was making progress on its merger goals. It had divested itself of more than $6 billion in assets, including stakes in a liquefied natural gas export project in Mozambique and in a Houston-based pipeline company. Occidental recorded single-day and monthly production records in the Permian and other oil fields. Occidental announced its 182nd consecutive quarterly dividend, which Ms. Hollub noted at the time that “few other companies can claim.”</p><p>Ms. Hollub believed the merger was on track, but investors remained skeptical. From the time of Occidental’s counteroffer for Anadarko in April 2019 to February 2020 Occidental’s stock fell around 35%. Then the global pandemic took hold.</p><p>As billions of people around the world began to lock down, demand for oil plummeted. In the spring, oil prices reached historic lows, briefly turning negative for the first time ever as traders paid counterparties to take oil off their hands. Falling demand for their product hammered oil-and-gas companies, forcing dozens into bankruptcy.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9090db9eab1ac4c91bd5b1b441d26206\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Gasoline prices sank in April 2020 after the global pandemic caused oil prices to drop below zero.PHOTO:FREDERIC J. BROWN/AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p>Every day, Ms. Hollub would drive to Occidental’s Houston offices in her red Jeep Wrangler, said Glenn Vangolen, a former senior vice president at Occidental and close adviser to the CEO. Mondays and Fridays, she and her lieutenants would mask up and gather in a conference room to discuss operations. Her office was spartan—a mostly bare room, except for a TV playing business news on mute, and a plush stuffed version of a costumed elephant, the Alabama Crimson Tide’s mascot, Mr. Vangolen said.</p><p>Occidental was in a worse situation than many of its peers: At the end of 2019, its long-term debt of about $39 billion was equivalent to roughly four times its earnings, excluding interest, taxes and other accounting items, quadruple the ratio from a year earlier, S&P Capital IQ data show. The divestitures it had planned on to pay it down were no longer viable as assets were losing value.</p><p>Ms. Hollub said that Occidental made a lot of the difficult decisions before the pandemic to mitigate the downside risks of the Anadarko acquisition, including hedging a portion of its oil production and bumping its line of credit to $5 billion. But the company still faced painful months ahead as it had barely enough cash on hand to meet debt maturities coming due in 2021 and was later forced to hire restructuring advisers.</p><p>Ms. Hollub moved to cut her executives’ salaries—including her own by 81%—offer employees voluntary buy-outs, slash expenses in the oil patch and cancel employee perks. She also cut the dividend, which rankled investors.</p><p>Mr. Icahn amplified his calls for Ms. Hollub’s ouster and said he would seek to replace the entire board of directors at the company’s annual meeting. As the oil producer’s stock plunged to under $10 from around $45 before the pandemic, Mr. Icahn—facing paper losses of about $1 billion—doubled down on his shares, boosting his stake to roughly 10% from about 2%.</p><p>After a price war between Russia and Saudi Arabia caused oil prices to plunge below $25 a barrel in March, Occidental reached a settlement with Mr. Icahn. The deal gave board seats to two of his deputies and added another director, required Occidental to create an oversight committee that must be informed of any offers to acquire the company or its assets, and replaced the board chairman withStephen Chazen, Ms. Hollub’s predecessor as CEO.</p><p>Mr. Icahn’s camp pushed for Occidental to give its shareholders warrants that could allow them to buy discounted shares in the future. After he prevailed, Mr. Icahn received roughly 11 million warrants initially and bought more when they were worth around $3.</p><p>Mr. Vangolen said Mr. Icahn’s demand for warrants was part of the investor’s “raider playbook,” which he described as “trying to extract as much cash out of the business as you can before you bail.”</p><p>Mr. Icahn said that all the shareholders who rode the stock down deserved something for their loyalty.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3af2c050a88b00dd9846de958b65be1b\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>A crude oil pump jack in the Permian Basin in Loving County, Texas.PHOTO:ANGUS MORDANT/REUTERS</span></p><p>As the pandemic dragged on, Occidental logged a roughly $14.8 billion loss for 2020, its largest on record, according to S&P Capital IQ data. Still, it continued to whittle down its mammoth debt, closing around $2.5 billion in asset sales at the end of 2020. Anadarko’s assets, meanwhile, were starting to shine, with production in the Permian reaching the high end of company estimates.</p><p>Even as Ms. Hollub wrestled with Mr. Icahn, she was building a relationship with Mr. Buffett.</p><p>In 2020, she traveled to Omaha to discuss Occidental's long-term strategy with Mr. Buffett, according to a person familiar with the meeting. The investor expressed a strong interest in the company's goal to become a leader in carbon capture, this person said.</p><p>Occidental says it has no plans to stop producing oil but also aims to be a leader in "carbon management." It wants to develop 70 plants by 2035 to suck carbon dioxide out of the air, store it in the ground and sell carbon credits to businesses seeking to offset their own emissions -- a technology still in its commercial infancy that received a boost thanks to tax credits included in the climate package President Biden signed into law last month. The company also plans to use the gas to squeeze more oil from underground.</p><p>Then, in late February of this year, Russia invaded Ukraine.</p><p>The war propelled oil prices to their highest level in years, with Brent crude oil topping $120 in March, translating into a windfall for oil companies. In the first quarter of the year, Occidental made roughly $4.9 billion in profit, its highest quarterly earnings on record, according to S&P Capital IQ.</p><p>The company now holds the most acreage across the Permian, with leases covering about 2.8 million net acres, according to data firm Enverus. Its domestic oil output in the second quarter of this year was up roughly 80% compared with before it acquired Anadarko, Occidental reported.</p><p>As Occidental's stock rose above $50 a share in March, Mr. Icahn sold his common stake. The investor's two representatives on Occidental's board also resigned, as was required by the settlement agreement. Mr. Icahn made over $1.5 billion on his investment and still holds some warrants, according to public filings and people familiar with the matter.</p><p>As Mr. Icahn got out of the stock, Mr. Buffett bought in. In May, Berkshire reported it had purchased roughly $8 billion worth of shares.</p><p>Mr. Icahn said that Mr. Buffett's investment could be ill-timed. "I respect Buffett a lot but I think buying this stock at this level is obviously not like buying warrants at $3," he said. "I made a great deal of money on my investment in Occidental, especially with the warrants, and activism worked in that regard," he said.</p><p>Ms. Hollub and Mr. Buffett have developed a personal relationship and the two talk periodically, said Mr. Vangolen. Ms. Hollub said in an interview she had no personal relationship with Mr. Icahn when he was an investor, and that he turned out not to be the kind of long-term shareholder the company prizes.</p><p>Mr. Icahn's retort: "She came very close to not being a long-term shareholder also, because her ill-timed investment put the company on the brink of bankruptcy."</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>How a CEO Rescued a Big Bet on Big Oil; \"There Were a Lot of Doubters\"</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow a CEO Rescued a Big Bet on Big Oil; \"There Were a Lot of Doubters\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-09-11 09:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><img src=\"https://static.tigerbbs.com/be5cb2e717152d9e61504d0803ac3654\" tg-width=\"1278\" tg-height=\"1278\" referrerpolicy=\"no-referrer\"/>Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oil-and-gas peers. Struggling with debt from an ill-timed $38 billion deal, Chief ExecutiveVicki Hollubwas fending off activist investorCarl Icahn, who controlled two board seats.</p><p>Two years later, the company has emerged as the top performer in the S&P 500, and Ms. Hollub has traded Mr. Icahn, who sold all of his Occidental shares in March, for Warren Buffett, whoseBerkshire Hathaway Inc. now owns more than 20% of the company.</p><p>It was touch and go for a time. Months before the pandemic took hold, she implemented widespread layoffs. To stave off bankruptcy after oil prices collapsed in 2020, she slashed spending and nearly eliminated Occidental’s once-sacrosanct dividend—“the biggest and toughest decision that I made and I’ve ever made in my career,” she said in an interview.</p><p>Her 2019 acquisition of rival Anadarko Petroleum Corp., which Mr. Icahn called a “disaster,” has given Occidental the dominant position in the largest U.S. shale-oil field, the Permian Basin. Lifted by climbing oil prices, Occidental generated a record $4.35 billion in free cash flow and $3.7 billion in profit in the second quarter. It has cut its debt to $22 billion from nearly $36 billion a year ago.</p><p><img src=\"https://static.tigerbbs.com/61847881fba325e1dc5c7ed3280e29db\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/>Oil-and-gas producers have reported banner profits this year, even as a global energy crisis sparked by Russia’s invasion of Ukraine has threatened to derail European industries, left the U.K. facing its worst economic crisis since the 1970s and forced the Netherlands, Germany and India to rely heavily on coal to make up for a dearth of natural gas.</p><p>But Ms. Hollub, the first woman to be CEO of a major U.S. oil company, says she doesn’t feel vindicated. “I just feel relief,” she said. “There were a lot of doubters.”</p><p>Mr. Buffett has publicly lauded Ms. Hollub’s leadership. After she detailed the company’s future plans for analysts in February, Mr. Buffett told his own shareholders, “What Vicki Hollub was saying made nothing but sense.” Last month, Berkshire received regulatory approval to buy up to 50% of the oil company’s shares, spurring speculation it might seek to purchase all of Occidental.</p><p>Mr. Buffett declined to comment for this story. Ms. Hollub said she has “tremendous respect” for Mr. Buffett, adding that “he will be very beneficial for us as we go forward.” She declined to discuss the possibility of Berkshire purchasing the entire company.</p><p>Some former investors remain skeptical, saying a spike in oil prices has rescued the company, not Ms. Hollub.</p><p>“I have nothing personal against Vicki,” Mr. Icahn said in an interview. “However, that will never change my mind that she should not have made a bet-the-company investment by way of overpaying for Anadarko.”</p><p>A University of Alabama graduate, Ms. Hollub joined Occidental in 1982 and soon found herself running operations in Russia and Venezuela. She almost got laid off in 2003, butTodd Stevens, an executive at the company who had followed her rise, arranged for her to lead a team evaluating acreage in Colorado, said Mr. Stevens, who has since left.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bf58d7d767a23cfb352e019504bafa44\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Equipment used to process carbon dioxide, crude oil and water at an Occidental Petroleum project in Hobbs, N.M.PHOTO:ERNEST SCHEYDER/REUTERS</span></p><p>Ms. Hollub became known as a hard worker, once spending three weeks straightening out operations at a new gas field’s first well, said Donnie Enns, a former geophysicist who worked under her. “Nobody worked harder than Vicki,” he said. She also found time to run an office March Madness basketball pool.</p><p>After being named CEO of the company in 2016, Ms. Hollub departed from her predecessor’s preference for low-risk, “bolt-on” transactions. A little over a year into the job, she started courting Anadarko, an oil producer of comparable size, for a deal.</p><p>She outflanked largerChevronCorp. in a bidding war that riveted the oil patch, offering $5 billion more than her rival for Anadarko and its prized assets in the epicenter of U.S. shale production. Yet victory came at a steep cost.</p><p>Some of Occidental’s largest shareholders decried the deal—especially a pricey loan from Mr. Buffett in the form of $10 billion in preferred stock paying 8% annually in dividends, or $800 million. Ms. Hollub negotiated the funding at the eleventh hour after meeting with the financier in Omaha, Neb. Mr. Icahn, who first bought stock as the Anadarko bidding war came to a close, wrote to Occidental shareholders that “Buffett figuratively took her to the cleaners.”</p><p>Ms. Hollub acknowledged the deal damaged the company’s standing with some investors. “I was never offended at the fact that our shareholders were skeptical,” she said.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58cf5cd81991220ec1f42821cee2554b\" tg-width=\"639\" tg-height=\"959\" referrerpolicy=\"no-referrer\"/><span>Vicki Hollub said she never doubted the wisdom of the Anadarko acquisition.PHOTO:ANGELA OWENS/THE WALL STREET JOURNAL</span></p><p>But she said she never doubted the wisdom of the acquisition, even after it sparked an investor revolt that created an opportunity for Mr. Icahn.</p><p>Central to Ms. Hollub’s strategy was building on Occidental’s already-large position in the oil-rich Permian of West Texas and New Mexico. She believed purchasing and drilling a huge swath of new acreage, much of it near the company’s existing assets, would give Occidental economies of scale and allow it to outperform Permian rivals. Occidental, she said, was one of the most technologically advanced drillers in the field; it would turn Anadarko’s undeveloped assets into oil-gushing wells.</p><p>By the end of 2019, the oil producer said it was making progress on its merger goals. It had divested itself of more than $6 billion in assets, including stakes in a liquefied natural gas export project in Mozambique and in a Houston-based pipeline company. Occidental recorded single-day and monthly production records in the Permian and other oil fields. Occidental announced its 182nd consecutive quarterly dividend, which Ms. Hollub noted at the time that “few other companies can claim.”</p><p>Ms. Hollub believed the merger was on track, but investors remained skeptical. From the time of Occidental’s counteroffer for Anadarko in April 2019 to February 2020 Occidental’s stock fell around 35%. Then the global pandemic took hold.</p><p>As billions of people around the world began to lock down, demand for oil plummeted. In the spring, oil prices reached historic lows, briefly turning negative for the first time ever as traders paid counterparties to take oil off their hands. Falling demand for their product hammered oil-and-gas companies, forcing dozens into bankruptcy.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9090db9eab1ac4c91bd5b1b441d26206\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>Gasoline prices sank in April 2020 after the global pandemic caused oil prices to drop below zero.PHOTO:FREDERIC J. BROWN/AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p>Every day, Ms. Hollub would drive to Occidental’s Houston offices in her red Jeep Wrangler, said Glenn Vangolen, a former senior vice president at Occidental and close adviser to the CEO. Mondays and Fridays, she and her lieutenants would mask up and gather in a conference room to discuss operations. Her office was spartan—a mostly bare room, except for a TV playing business news on mute, and a plush stuffed version of a costumed elephant, the Alabama Crimson Tide’s mascot, Mr. Vangolen said.</p><p>Occidental was in a worse situation than many of its peers: At the end of 2019, its long-term debt of about $39 billion was equivalent to roughly four times its earnings, excluding interest, taxes and other accounting items, quadruple the ratio from a year earlier, S&P Capital IQ data show. The divestitures it had planned on to pay it down were no longer viable as assets were losing value.</p><p>Ms. Hollub said that Occidental made a lot of the difficult decisions before the pandemic to mitigate the downside risks of the Anadarko acquisition, including hedging a portion of its oil production and bumping its line of credit to $5 billion. But the company still faced painful months ahead as it had barely enough cash on hand to meet debt maturities coming due in 2021 and was later forced to hire restructuring advisers.</p><p>Ms. Hollub moved to cut her executives’ salaries—including her own by 81%—offer employees voluntary buy-outs, slash expenses in the oil patch and cancel employee perks. She also cut the dividend, which rankled investors.</p><p>Mr. Icahn amplified his calls for Ms. Hollub’s ouster and said he would seek to replace the entire board of directors at the company’s annual meeting. As the oil producer’s stock plunged to under $10 from around $45 before the pandemic, Mr. Icahn—facing paper losses of about $1 billion—doubled down on his shares, boosting his stake to roughly 10% from about 2%.</p><p>After a price war between Russia and Saudi Arabia caused oil prices to plunge below $25 a barrel in March, Occidental reached a settlement with Mr. Icahn. The deal gave board seats to two of his deputies and added another director, required Occidental to create an oversight committee that must be informed of any offers to acquire the company or its assets, and replaced the board chairman withStephen Chazen, Ms. Hollub’s predecessor as CEO.</p><p>Mr. Icahn’s camp pushed for Occidental to give its shareholders warrants that could allow them to buy discounted shares in the future. After he prevailed, Mr. Icahn received roughly 11 million warrants initially and bought more when they were worth around $3.</p><p>Mr. Vangolen said Mr. Icahn’s demand for warrants was part of the investor’s “raider playbook,” which he described as “trying to extract as much cash out of the business as you can before you bail.”</p><p>Mr. Icahn said that all the shareholders who rode the stock down deserved something for their loyalty.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3af2c050a88b00dd9846de958b65be1b\" tg-width=\"1260\" tg-height=\"840\" referrerpolicy=\"no-referrer\"/><span>A crude oil pump jack in the Permian Basin in Loving County, Texas.PHOTO:ANGUS MORDANT/REUTERS</span></p><p>As the pandemic dragged on, Occidental logged a roughly $14.8 billion loss for 2020, its largest on record, according to S&P Capital IQ data. Still, it continued to whittle down its mammoth debt, closing around $2.5 billion in asset sales at the end of 2020. Anadarko’s assets, meanwhile, were starting to shine, with production in the Permian reaching the high end of company estimates.</p><p>Even as Ms. Hollub wrestled with Mr. Icahn, she was building a relationship with Mr. Buffett.</p><p>In 2020, she traveled to Omaha to discuss Occidental's long-term strategy with Mr. Buffett, according to a person familiar with the meeting. The investor expressed a strong interest in the company's goal to become a leader in carbon capture, this person said.</p><p>Occidental says it has no plans to stop producing oil but also aims to be a leader in "carbon management." It wants to develop 70 plants by 2035 to suck carbon dioxide out of the air, store it in the ground and sell carbon credits to businesses seeking to offset their own emissions -- a technology still in its commercial infancy that received a boost thanks to tax credits included in the climate package President Biden signed into law last month. The company also plans to use the gas to squeeze more oil from underground.</p><p>Then, in late February of this year, Russia invaded Ukraine.</p><p>The war propelled oil prices to their highest level in years, with Brent crude oil topping $120 in March, translating into a windfall for oil companies. In the first quarter of the year, Occidental made roughly $4.9 billion in profit, its highest quarterly earnings on record, according to S&P Capital IQ.</p><p>The company now holds the most acreage across the Permian, with leases covering about 2.8 million net acres, according to data firm Enverus. Its domestic oil output in the second quarter of this year was up roughly 80% compared with before it acquired Anadarko, Occidental reported.</p><p>As Occidental's stock rose above $50 a share in March, Mr. Icahn sold his common stake. The investor's two representatives on Occidental's board also resigned, as was required by the settlement agreement. Mr. Icahn made over $1.5 billion on his investment and still holds some warrants, according to public filings and people familiar with the matter.</p><p>As Mr. Icahn got out of the stock, Mr. Buffett bought in. In May, Berkshire reported it had purchased roughly $8 billion worth of shares.</p><p>Mr. Icahn said that Mr. Buffett's investment could be ill-timed. "I respect Buffett a lot but I think buying this stock at this level is obviously not like buying warrants at $3," he said. "I made a great deal of money on my investment in Occidental, especially with the warrants, and activism worked in that regard," he said.</p><p>Ms. Hollub and Mr. Buffett have developed a personal relationship and the two talk periodically, said Mr. Vangolen. Ms. Hollub said in an interview she had no personal relationship with Mr. Icahn when he was an investor, and that he turned out not to be the kind of long-term shareholder the company prizes.</p><p>Mr. Icahn's retort: "She came very close to not being a long-term shareholder also, because her ill-timed investment put the company on the brink of bankruptcy."</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4176":"多领域控股","BK4550":"红杉资本持仓","BK4201":"综合性石油与天然气企业","BK4534":"瑞士信贷持仓","OXY":"西方石油","BRK.A":"伯克希尔","BK4581":"高盛持仓","BRK.B":"伯克希尔B","BK4533":"AQR资本管理(全球第二大对冲基金)"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2266817381","content_text":"Occidental Petroleum Corp. entered the thick of the pandemic among the worst prepared of its U.S. oil-and-gas peers. Struggling with debt from an ill-timed $38 billion deal, Chief ExecutiveVicki Hollubwas fending off activist investorCarl Icahn, who controlled two board seats.Two years later, the company has emerged as the top performer in the S&P 500, and Ms. Hollub has traded Mr. Icahn, who sold all of his Occidental shares in March, for Warren Buffett, whoseBerkshire Hathaway Inc. now owns more than 20% of the company.It was touch and go for a time. Months before the pandemic took hold, she implemented widespread layoffs. To stave off bankruptcy after oil prices collapsed in 2020, she slashed spending and nearly eliminated Occidental’s once-sacrosanct dividend—“the biggest and toughest decision that I made and I’ve ever made in my career,” she said in an interview.Her 2019 acquisition of rival Anadarko Petroleum Corp., which Mr. Icahn called a “disaster,” has given Occidental the dominant position in the largest U.S. shale-oil field, the Permian Basin. Lifted by climbing oil prices, Occidental generated a record $4.35 billion in free cash flow and $3.7 billion in profit in the second quarter. It has cut its debt to $22 billion from nearly $36 billion a year ago.Oil-and-gas producers have reported banner profits this year, even as a global energy crisis sparked by Russia’s invasion of Ukraine has threatened to derail European industries, left the U.K. facing its worst economic crisis since the 1970s and forced the Netherlands, Germany and India to rely heavily on coal to make up for a dearth of natural gas.But Ms. Hollub, the first woman to be CEO of a major U.S. oil company, says she doesn’t feel vindicated. “I just feel relief,” she said. “There were a lot of doubters.”Mr. Buffett has publicly lauded Ms. Hollub’s leadership. After she detailed the company’s future plans for analysts in February, Mr. Buffett told his own shareholders, “What Vicki Hollub was saying made nothing but sense.” Last month, Berkshire received regulatory approval to buy up to 50% of the oil company’s shares, spurring speculation it might seek to purchase all of Occidental.Mr. Buffett declined to comment for this story. Ms. Hollub said she has “tremendous respect” for Mr. Buffett, adding that “he will be very beneficial for us as we go forward.” She declined to discuss the possibility of Berkshire purchasing the entire company.Some former investors remain skeptical, saying a spike in oil prices has rescued the company, not Ms. Hollub.“I have nothing personal against Vicki,” Mr. Icahn said in an interview. “However, that will never change my mind that she should not have made a bet-the-company investment by way of overpaying for Anadarko.”A University of Alabama graduate, Ms. Hollub joined Occidental in 1982 and soon found herself running operations in Russia and Venezuela. She almost got laid off in 2003, butTodd Stevens, an executive at the company who had followed her rise, arranged for her to lead a team evaluating acreage in Colorado, said Mr. Stevens, who has since left.Equipment used to process carbon dioxide, crude oil and water at an Occidental Petroleum project in Hobbs, N.M.PHOTO:ERNEST SCHEYDER/REUTERSMs. Hollub became known as a hard worker, once spending three weeks straightening out operations at a new gas field’s first well, said Donnie Enns, a former geophysicist who worked under her. “Nobody worked harder than Vicki,” he said. She also found time to run an office March Madness basketball pool.After being named CEO of the company in 2016, Ms. Hollub departed from her predecessor’s preference for low-risk, “bolt-on” transactions. A little over a year into the job, she started courting Anadarko, an oil producer of comparable size, for a deal.She outflanked largerChevronCorp. in a bidding war that riveted the oil patch, offering $5 billion more than her rival for Anadarko and its prized assets in the epicenter of U.S. shale production. Yet victory came at a steep cost.Some of Occidental’s largest shareholders decried the deal—especially a pricey loan from Mr. Buffett in the form of $10 billion in preferred stock paying 8% annually in dividends, or $800 million. Ms. Hollub negotiated the funding at the eleventh hour after meeting with the financier in Omaha, Neb. Mr. Icahn, who first bought stock as the Anadarko bidding war came to a close, wrote to Occidental shareholders that “Buffett figuratively took her to the cleaners.”Ms. Hollub acknowledged the deal damaged the company’s standing with some investors. “I was never offended at the fact that our shareholders were skeptical,” she said.Vicki Hollub said she never doubted the wisdom of the Anadarko acquisition.PHOTO:ANGELA OWENS/THE WALL STREET JOURNALBut she said she never doubted the wisdom of the acquisition, even after it sparked an investor revolt that created an opportunity for Mr. Icahn.Central to Ms. Hollub’s strategy was building on Occidental’s already-large position in the oil-rich Permian of West Texas and New Mexico. She believed purchasing and drilling a huge swath of new acreage, much of it near the company’s existing assets, would give Occidental economies of scale and allow it to outperform Permian rivals. Occidental, she said, was one of the most technologically advanced drillers in the field; it would turn Anadarko’s undeveloped assets into oil-gushing wells.By the end of 2019, the oil producer said it was making progress on its merger goals. It had divested itself of more than $6 billion in assets, including stakes in a liquefied natural gas export project in Mozambique and in a Houston-based pipeline company. Occidental recorded single-day and monthly production records in the Permian and other oil fields. Occidental announced its 182nd consecutive quarterly dividend, which Ms. Hollub noted at the time that “few other companies can claim.”Ms. Hollub believed the merger was on track, but investors remained skeptical. From the time of Occidental’s counteroffer for Anadarko in April 2019 to February 2020 Occidental’s stock fell around 35%. Then the global pandemic took hold.As billions of people around the world began to lock down, demand for oil plummeted. In the spring, oil prices reached historic lows, briefly turning negative for the first time ever as traders paid counterparties to take oil off their hands. Falling demand for their product hammered oil-and-gas companies, forcing dozens into bankruptcy.Gasoline prices sank in April 2020 after the global pandemic caused oil prices to drop below zero.PHOTO:FREDERIC J. BROWN/AGENCE FRANCE-PRESSE/GETTY IMAGESEvery day, Ms. Hollub would drive to Occidental’s Houston offices in her red Jeep Wrangler, said Glenn Vangolen, a former senior vice president at Occidental and close adviser to the CEO. Mondays and Fridays, she and her lieutenants would mask up and gather in a conference room to discuss operations. Her office was spartan—a mostly bare room, except for a TV playing business news on mute, and a plush stuffed version of a costumed elephant, the Alabama Crimson Tide’s mascot, Mr. Vangolen said.Occidental was in a worse situation than many of its peers: At the end of 2019, its long-term debt of about $39 billion was equivalent to roughly four times its earnings, excluding interest, taxes and other accounting items, quadruple the ratio from a year earlier, S&P Capital IQ data show. The divestitures it had planned on to pay it down were no longer viable as assets were losing value.Ms. Hollub said that Occidental made a lot of the difficult decisions before the pandemic to mitigate the downside risks of the Anadarko acquisition, including hedging a portion of its oil production and bumping its line of credit to $5 billion. But the company still faced painful months ahead as it had barely enough cash on hand to meet debt maturities coming due in 2021 and was later forced to hire restructuring advisers.Ms. Hollub moved to cut her executives’ salaries—including her own by 81%—offer employees voluntary buy-outs, slash expenses in the oil patch and cancel employee perks. She also cut the dividend, which rankled investors.Mr. Icahn amplified his calls for Ms. Hollub’s ouster and said he would seek to replace the entire board of directors at the company’s annual meeting. As the oil producer’s stock plunged to under $10 from around $45 before the pandemic, Mr. Icahn—facing paper losses of about $1 billion—doubled down on his shares, boosting his stake to roughly 10% from about 2%.After a price war between Russia and Saudi Arabia caused oil prices to plunge below $25 a barrel in March, Occidental reached a settlement with Mr. Icahn. The deal gave board seats to two of his deputies and added another director, required Occidental to create an oversight committee that must be informed of any offers to acquire the company or its assets, and replaced the board chairman withStephen Chazen, Ms. Hollub’s predecessor as CEO.Mr. Icahn’s camp pushed for Occidental to give its shareholders warrants that could allow them to buy discounted shares in the future. After he prevailed, Mr. Icahn received roughly 11 million warrants initially and bought more when they were worth around $3.Mr. Vangolen said Mr. Icahn’s demand for warrants was part of the investor’s “raider playbook,” which he described as “trying to extract as much cash out of the business as you can before you bail.”Mr. Icahn said that all the shareholders who rode the stock down deserved something for their loyalty.A crude oil pump jack in the Permian Basin in Loving County, Texas.PHOTO:ANGUS MORDANT/REUTERSAs the pandemic dragged on, Occidental logged a roughly $14.8 billion loss for 2020, its largest on record, according to S&P Capital IQ data. Still, it continued to whittle down its mammoth debt, closing around $2.5 billion in asset sales at the end of 2020. Anadarko’s assets, meanwhile, were starting to shine, with production in the Permian reaching the high end of company estimates.Even as Ms. Hollub wrestled with Mr. Icahn, she was building a relationship with Mr. Buffett.In 2020, she traveled to Omaha to discuss Occidental's long-term strategy with Mr. Buffett, according to a person familiar with the meeting. The investor expressed a strong interest in the company's goal to become a leader in carbon capture, this person said.Occidental says it has no plans to stop producing oil but also aims to be a leader in \"carbon management.\" It wants to develop 70 plants by 2035 to suck carbon dioxide out of the air, store it in the ground and sell carbon credits to businesses seeking to offset their own emissions -- a technology still in its commercial infancy that received a boost thanks to tax credits included in the climate package President Biden signed into law last month. The company also plans to use the gas to squeeze more oil from underground.Then, in late February of this year, Russia invaded Ukraine.The war propelled oil prices to their highest level in years, with Brent crude oil topping $120 in March, translating into a windfall for oil companies. In the first quarter of the year, Occidental made roughly $4.9 billion in profit, its highest quarterly earnings on record, according to S&P Capital IQ.The company now holds the most acreage across the Permian, with leases covering about 2.8 million net acres, according to data firm Enverus. Its domestic oil output in the second quarter of this year was up roughly 80% compared with before it acquired Anadarko, Occidental reported.As Occidental's stock rose above $50 a share in March, Mr. Icahn sold his common stake. The investor's two representatives on Occidental's board also resigned, as was required by the settlement agreement. Mr. Icahn made over $1.5 billion on his investment and still holds some warrants, according to public filings and people familiar with the matter.As Mr. Icahn got out of the stock, Mr. Buffett bought in. In May, Berkshire reported it had purchased roughly $8 billion worth of shares.Mr. Icahn said that Mr. Buffett's investment could be ill-timed. \"I respect Buffett a lot but I think buying this stock at this level is obviously not like buying warrants at $3,\" he said. \"I made a great deal of money on my investment in Occidental, especially with the warrants, and activism worked in that regard,\" he said.Ms. Hollub and Mr. Buffett have developed a personal relationship and the two talk periodically, said Mr. Vangolen. Ms. Hollub said in an interview she had no personal relationship with Mr. Icahn when he was an investor, and that he turned out not to be the kind of long-term shareholder the company prizes.Mr. Icahn's retort: \"She came very close to not being a long-term shareholder also, because her ill-timed investment put the company on the brink of bankruptcy.\"","news_type":1,"symbols_score_info":{"BRK.A":0.68,"BRK.B":0.9,"OXY":0.9}},"isVote":1,"tweetType":1,"viewCount":2922,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9936464281,"gmtCreate":1662806813044,"gmtModify":1676537144423,"author":{"id":"4090246467860710","authorId":"4090246467860710","name":"LalaLand","avatar":"https://static.tigerbbs.com/21493a8745b0e28a0111a0a923ff5d4a","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090246467860710","idStr":"4090246467860710"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>Good time to invest in Tesla now?","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a>Good time to invest in Tesla now?","text":"$Tesla Motors(TSLA)$Good time to invest in Tesla now?","images":[{"img":"https://community-static.tradeup.com/news/48e038358a0a123affa9ab441b29e6f1","width":"1080","height":"2533"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9936464281","isVote":1,"tweetType":1,"viewCount":2653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}