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- Sg_lexSg_lex
  ·2022-02-18
  She has a good point
  Stock Market Faces the Most 'Massive Misallocation' of 'Capital in the History of Mankind,' Says ARK's Cathie Wood
  Cathie Wood, the star fund manager and chief executive of ARK Invest, took to CNBC to defend the woe
  Stock Market Faces the Most 'Massive Misallocation' of 'Capital in the History of Mankind,' Says ARK's Cathie Wood
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- Sg_lexSg_lex
  ·2022-02-11
  I still reckon that oil wont fair as well as inflationary pressures get lifted over time.
  Big Oil Is Pumping Out Cash as If $100 Oil Has Already Arrived
  Free cash flow highest since 2008 for the five supermajorsIndustry’s lower spending means more money
  Big Oil Is Pumping Out Cash as If $100 Oil Has Already Arrived
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has a good&nbsp;point&nbsp;","listText":"She has a good&nbsp;point&nbsp;","text":"She has a good point","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094227159","repostId":"2212610441","repostType":2,"repost":{"id":"2212610441","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1645154369,"share":"https://ttm.financial/m/news/2212610441?lang=&edition=fundamental","pubTime":"2022-02-18 11:19","market":"us","language":"en","title":"Stock Market Faces the Most 'Massive Misallocation' of 'Capital in the History of Mankind,' Says ARK's Cathie Wood","url":"https://stock-news.laohu8.com/highlight/detail?id=2212610441","media":"Dow Jones","summary":"Cathie Wood, the star 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run-ups during the height of the pandemic-fueled worries in 2020, would return to their pandemic heights.</p><p>So far in 2022, each of the flagship ARK Innovation&#39;s <a href=\"https://laohu8.com/S/ARKK\">$(ARKK)$</a> 40 holdings had fallen more than 10%. The fund itself has slumped 26% year to date, and lost more than half its value over the past 12 months, FactSet data show.</p><p>By comparison, the Dow Jones Industrial Average  was down 5% in the year to date, the S&amp;P 500 index  was trading 7.4% over the same period, the Nasdaq Composite Index  has declined by 11.5% and the large-capitalization Nasdaq-100 index  was off 12.4%, as of Thursday afternoon.</p><p>Wood said the shares of all of the companies that ARK has bought in its various funds would return to lofty heights and trade well beyond their pandemic tops, including investments in companies such as Roblox Corp. <a href=\"https://laohu8.com/S/RBLX\">$(RBLX)$</a>, Teladoc Health <a href=\"https://laohu8.com/S/TDOC\">$(TDOC)$</a> and <a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications (ZM).</p><p>&#34;We are not going back to the old ways of doing things,&#34; she said about the surge in value in the cache of stocks bought by ARK that saw revenue accelerate during the COVID public health crisis.</p><p>She also made the case that mature growth companies, including those considered in the FAANG category, such as <a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> (FB) (formerly known as Facebook Inc.), Apple Inc. <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, Netflix <a href=\"https://laohu8.com/S/NFLX\">$(NFLX)$</a> and Google-parent Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL), would face bigger challenges, if interest rates rise and inflation pressures persist, than her disruptive innovative investments.</p><p>&#34;The companies that are going to be hurt most by inflation and interest rates--if they are going to be a problem--are those that are in the mature growth category,&#34; she said.</p><p>She reiterated that investors in ARK need to maintain a 5-year time horizon to eventually reap investment rewards.</p><p>&#34;If we are right and the growth rate [is]15% on an annualized rate over the next five years, interest rates and inflation are not going to be a problem for,&#34; ARK&#39;s investments, she said.</p><p>To those who are betting on the failure of ARK, Wood said the idea of shorting innovation is &#34;ridiculous,&#34; referencing funds, including <a href=\"https://laohu8.com/S/SARK\">Tuttle Capital Short Innovation ETF</a>(SARK), which can be used to wager against ARK&#39;s roster of investments.</p><p>&#34;The idea of shorting innovation in America is ridiculous, I think,&#34; she said.</p><p>&#34;The pendulum has swung...and if we are right, the rewards are going to be enormous,&#34; she said. (It is worth noting that Matthew Tuttle, CEO of Tuttle Capital, has said that his fund is geared toward those who want to take the other side of Wood&#39;s bets as well those who are simply looking to protect against losses on such investments.)</p><p>Meanwhile, Wood also said that more than half of her personal net worth was tied up in ARK and its funds and that she feels the pain of investors who are suffering through current declines.</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>Stock Market Faces the Most 'Massive Misallocation' of 'Capital in the History of Mankind,' Says ARK's Cathie Wood</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Market Faces the Most 'Massive Misallocation' of 'Capital in the History of Mankind,' Says ARK's Cathie Wood\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\">2022-02-18 11:19</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Cathie Wood, the star fund manager and chief executive of ARK Invest, took to CNBC to defend the woeful performance of the manager&#39;s suite of disruptive innovation funds.</p><p>Wood told the business network in a Thursday interview that the gravitation of money managers toward benchmarks, rather than taking risk on what she views as potentially game-changing technology in gene editing, electric vehicles and artificial intelligence, among others, was creating a &#34;massive misallocation of capital&#34; in markets that could be the biggest in &#34;the history of mankind.&#34;</p><p>&#34;Benchmarks are where they are because of past successes...If we are right, those are the companies that will be disrupted,&#34; she said on CNBC.</p><p>She said &#34;absolutely,&#34; when asked if some of the companies her funds have invested in, which enjoyed nearly parabolic run-ups during the height of the pandemic-fueled worries in 2020, would return to their pandemic heights.</p><p>So far in 2022, each of the flagship ARK Innovation&#39;s <a href=\"https://laohu8.com/S/ARKK\">$(ARKK)$</a> 40 holdings had fallen more than 10%. The fund itself has slumped 26% year to date, and lost more than half its value over the past 12 months, FactSet data show.</p><p>By comparison, the Dow Jones Industrial Average  was down 5% in the year to date, the S&amp;P 500 index  was trading 7.4% over the same period, the Nasdaq Composite Index  has declined by 11.5% and the large-capitalization Nasdaq-100 index  was off 12.4%, as of Thursday afternoon.</p><p>Wood said the shares of all of the companies that ARK has bought in its various funds would return to lofty heights and trade well beyond their pandemic tops, including investments in companies such as Roblox Corp. <a href=\"https://laohu8.com/S/RBLX\">$(RBLX)$</a>, Teladoc Health <a href=\"https://laohu8.com/S/TDOC\">$(TDOC)$</a> and <a href=\"https://laohu8.com/S/ZM\">Zoom</a> Video Communications (ZM).</p><p>&#34;We are not going back to the old ways of doing things,&#34; she said about the surge in value in the cache of stocks bought by ARK that saw revenue accelerate during the COVID public health crisis.</p><p>She also made the case that mature growth companies, including those considered in the FAANG category, such as <a href=\"https://laohu8.com/S/FB\">Meta Platforms</a> (FB) (formerly known as Facebook Inc.), Apple Inc. <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, Netflix <a href=\"https://laohu8.com/S/NFLX\">$(NFLX)$</a> and Google-parent Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL), would face bigger challenges, if interest rates rise and inflation pressures persist, than her disruptive innovative investments.</p><p>&#34;The companies that are going to be hurt most by inflation and interest rates--if they are going to be a problem--are those that are in the mature growth category,&#34; she said.</p><p>She reiterated that investors in ARK need to maintain a 5-year time horizon to eventually reap investment rewards.</p><p>&#34;If we are right and the growth rate [is]15% on an annualized rate over the next five years, interest rates and inflation are not going to be a problem for,&#34; ARK&#39;s investments, she said.</p><p>To those who are betting on the failure of ARK, Wood said the idea of shorting innovation is &#34;ridiculous,&#34; referencing funds, including <a href=\"https://laohu8.com/S/SARK\">Tuttle Capital Short Innovation ETF</a>(SARK), which can be used to wager against ARK&#39;s roster of investments.</p><p>&#34;The idea of shorting innovation in America is ridiculous, I think,&#34; she said.</p><p>&#34;The pendulum has swung...and if we are right, the rewards are going to be enormous,&#34; she said. (It is worth noting that Matthew Tuttle, CEO of Tuttle Capital, has said that his fund is geared toward those who want to take the other side of Wood&#39;s bets as well those who are simply looking to protect against losses on such investments.)</p><p>Meanwhile, Wood also said that more than half of her personal net worth was tied up in ARK and its funds and that she feels the pain of investors who are suffering through current declines.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","RBLX":"Roblox Corporation","AAPL":"苹果","TDOC":"Teladoc Health Inc.","GOOGL":"谷歌A","ZM":"Zoom","ARKK":"ARK Innovation ETF","NFLX":"奈飞","AMZN":"亚马逊","BK4544":"ARK ETF合集","SARK":"Tradr 2X Short Innovation Daily ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212610441","content_text":"Cathie Wood, the star fund manager and chief executive of ARK Invest, took to CNBC to defend the woeful performance of the manager's suite of disruptive innovation funds.Wood told the business network in a Thursday interview that the gravitation of money managers toward benchmarks, rather than taking risk on what she views as potentially game-changing technology in gene editing, electric vehicles and artificial intelligence, among others, was creating a \"massive misallocation of capital\" in markets that could be the biggest in \"the history of mankind.\"\"Benchmarks are where they are because of past successes...If we are right, those are the companies that will be disrupted,\" she said on CNBC.She said \"absolutely,\" when asked if some of the companies her funds have invested in, which enjoyed nearly parabolic run-ups during the height of the pandemic-fueled worries in 2020, would return to their pandemic heights.So far in 2022, each of the flagship ARK Innovation's $(ARKK)$ 40 holdings had fallen more than 10%. The fund itself has slumped 26% year to date, and lost more than half its value over the past 12 months, FactSet data show.By comparison, the Dow Jones Industrial Average  was down 5% in the year to date, the S&P 500 index  was trading 7.4% over the same period, the Nasdaq Composite Index  has declined by 11.5% and the large-capitalization Nasdaq-100 index  was off 12.4%, as of Thursday afternoon.Wood said the shares of all of the companies that ARK has bought in its various funds would return to lofty heights and trade well beyond their pandemic tops, including investments in companies such as Roblox Corp. $(RBLX)$, Teladoc Health $(TDOC)$ and Zoom Video Communications (ZM).\"We are not going back to the old ways of doing things,\" she said about the surge in value in the cache of stocks bought by ARK that saw revenue accelerate during the COVID public health crisis.She also made the case that mature growth companies, including those considered in the FAANG category, such as Meta Platforms (FB) (formerly known as Facebook Inc.), Apple Inc. $(AAPL)$, Amazon.com Inc. $(AMZN)$, Netflix $(NFLX)$ and Google-parent Alphabet $(GOOGL)$(GOOGL), would face bigger challenges, if interest rates rise and inflation pressures persist, than her disruptive innovative investments.\"The companies that are going to be hurt most by inflation and interest rates--if they are going to be a problem--are those that are in the mature growth category,\" she said.She reiterated that investors in ARK need to maintain a 5-year time horizon to eventually reap investment rewards.\"If we are right and the growth rate [is]15% on an annualized rate over the next five years, interest rates and inflation are not going to be a problem for,\" ARK's investments, she said.To those who are betting on the failure of ARK, Wood said the idea of shorting innovation is \"ridiculous,\" referencing funds, including Tuttle Capital Short Innovation ETF(SARK), which can be used to wager against ARK's roster of investments.\"The idea of shorting innovation in America is ridiculous, I think,\" she said.\"The pendulum has swung...and if we are right, the rewards are going to be enormous,\" she said. (It is worth noting that Matthew Tuttle, CEO of Tuttle Capital, has said that his fund is geared toward those who want to take the other side of Wood's bets as well those who are simply looking to protect against losses on such investments.)Meanwhile, Wood also said that more than half of her personal net worth was tied up in ARK and its funds and that she feels the pain of investors who are suffering through current declines.","news_type":1},"isVote":1,"tweetType":1,"viewCount":88,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9092158840,"gmtCreate":1644562142482,"gmtModify":1676533941596,"author":{"id":"4107162571881760","authorId":"4107162571881760","name":"Sg_lex","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107162571881760","authorIdStr":"4107162571881760"},"themes":[],"htmlText":"I still&nbsp;reckon that oil wont fair as well as inflationary pressures get lifted over time.","listText":"I still&nbsp;reckon that oil wont fair as well as inflationary pressures get lifted over time.","text":"I still reckon that oil wont fair as well as inflationary pressures get lifted over time.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9092158840","repostId":"1161385016","repostType":4,"repost":{"id":"1161385016","pubTimestamp":1644560771,"share":"https://ttm.financial/m/news/1161385016?lang=&edition=fundamental","pubTime":"2022-02-11 14:26","market":"us","language":"en","title":"Big Oil Is Pumping Out Cash as If $100 Oil Has Already Arrived","url":"https://stock-news.laohu8.com/highlight/detail?id=1161385016","media":"Bloomberg","summary":"Free cash flow highest since 2008 for the five supermajorsIndustry’s lower spending means more money","content":"<html><head></head><body><ul><li>Free cash flow highest since 2008 for the five supermajors</li><li>Industry’s lower spending means more money for investors</li></ul><p>The world’s oil supermajors are pumping out cash as if crude was already trading at $100 a barrel.</p><p>BP Plc, Shell Plc, TotalEnergies SE, Exxon Mobil Corp. and Chevron Corp. just generated the highest free cash flow since the start of 2008 -- when oil first climbed above $100 a barrel. Crude isn’t that high yet, but spending is much lower, meaning there’s more money to return to investors.</p><p>“Over the past decade, oil and gas companies have had to trim the fat,” said Laura Hoy, an equity analyst at Hargreaves Lansdown. These leaner firms are benefiting the most from the current rally, especially as “elevated oil prices look like they’re here to stay.”</p><p><img src=\"https://static.tigerbbs.com/cb7ca8ca10480b7619ffa7bc7cdfde16\" tg-width=\"958\" tg-height=\"533\" width=\"100%\" height=\"auto\"/></p><p>The five supermajors mostly surpassed analyst expectations for fourth-quarter earnings, reporting combined free cash flow of $37 billion, when Brent crude averaged almost $80 a barrel. That compares to $40 billion in the first quarter of 2008, when the average was $96.</p><p>Their adjusted net income also soared to $31 billion, the highest quarter in more than 9 years.</p><p>It’s quite a u-turn for an industry that was enduring ballooning debt and crashing commodity prices as the coronavirus pandemic unfolded in 2020. At the end of that year, the five majors together lost almost $19 billion.</p><p>Yet companies spent much of 2020 aggressively cutting costs, announcing tens of thousands of layoffs and in some cases slashing dividends. That positioned them well for 2021, when the slump turned into a remarkable rally.</p><p>The outlook this year also looks bullish. Demand is increasing but supply remains “rather constrained” after years of under-investment, according to TotalEnergies’ Chief Executive Officer Patrick Pouyanne.</p><p>“You could see a world where, because of a lack of investment, even though the energy transition is accelerating oil prices are much, much higher,” said BP CEO Bernard Looney.</p><p>All five firms are holding the line on spending, with only relatively small increases in budgets for the year. Exxon and Chevron will boost investment in shale production in the Permian Basin, but this will largely offset production declines elsewhere in their portfolios. For BP, incremental spending will mostly be directed at low-carbon businesses.</p><p>That means more surplus cash for investors.</p><p>“We see plenty of room to increase shareholder distributions from current levels if commodity strength persists,” said RBC’s Co-Head of European Energy Research Biraj Borkhataria.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Big Oil Is Pumping Out Cash as If $100 Oil Has Already Arrived</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\">\nBig Oil Is Pumping Out Cash as If $100 Oil Has Already Arrived\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-11 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-02-11/big-oil-is-pumping-out-cash-as-if-100-oil-has-already-arrived?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Free cash flow highest since 2008 for the five supermajorsIndustry’s lower spending means more money for investorsThe world’s oil supermajors are pumping out cash as if crude was already trading at $...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-02-11/big-oil-is-pumping-out-cash-as-if-100-oil-has-already-arrived?srnd=premium\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TTE":"道达尔","TTFNF":"TotalEnergies SE ","RDS.A":"荷兰皇家壳牌石油A类股","CVX":"雪佛龙","XOM":"埃克森美孚","BP":"英国石油"},"source_url":"https://www.bloomberg.com/news/articles/2022-02-11/big-oil-is-pumping-out-cash-as-if-100-oil-has-already-arrived?srnd=premium","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161385016","content_text":"Free cash flow highest since 2008 for the five supermajorsIndustry’s lower spending means more money for investorsThe world’s oil supermajors are pumping out cash as if crude was already trading at $100 a barrel.BP Plc, Shell Plc, TotalEnergies SE, Exxon Mobil Corp. and Chevron Corp. just generated the highest free cash flow since the start of 2008 -- when oil first climbed above $100 a barrel. Crude isn’t that high yet, but spending is much lower, meaning there’s more money to return to investors.“Over the past decade, oil and gas companies have had to trim the fat,” said Laura Hoy, an equity analyst at Hargreaves Lansdown. These leaner firms are benefiting the most from the current rally, especially as “elevated oil prices look like they’re here to stay.”The five supermajors mostly surpassed analyst expectations for fourth-quarter earnings, reporting combined free cash flow of $37 billion, when Brent crude averaged almost $80 a barrel. That compares to $40 billion in the first quarter of 2008, when the average was $96.Their adjusted net income also soared to $31 billion, the highest quarter in more than 9 years.It’s quite a u-turn for an industry that was enduring ballooning debt and crashing commodity prices as the coronavirus pandemic unfolded in 2020. At the end of that year, the five majors together lost almost $19 billion.Yet companies spent much of 2020 aggressively cutting costs, announcing tens of thousands of layoffs and in some cases slashing dividends. That positioned them well for 2021, when the slump turned into a remarkable rally.The outlook this year also looks bullish. Demand is increasing but supply remains “rather constrained” after years of under-investment, according to TotalEnergies’ Chief Executive Officer Patrick Pouyanne.“You could see a world where, because of a lack of investment, even though the energy transition is accelerating oil prices are much, much higher,” said BP CEO Bernard Looney.All five firms are holding the line on spending, with only relatively small increases in budgets for the year. Exxon and Chevron will boost investment in shale production in the Permian Basin, but this will largely offset production declines elsewhere in their portfolios. For BP, incremental spending will mostly be directed at low-carbon businesses.That means more surplus cash for investors.“We see plenty of room to increase shareholder distributions from current levels if commodity strength persists,” said RBC’s Co-Head of European Energy Research Biraj Borkhataria.","news_type":1},"isVote":1,"tweetType":1,"viewCount":138,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000405","authorId":"9000000000000405","name":"wobee","avatar":"https://static.tigerbbs.com/e56f3c37882a6025b6c89e7973ed332c","crmLevel":1,"crmLevelSwitch":0,"idStr":"9000000000000405","authorIdStr":"9000000000000405"},"content":"The Fed's rate hikes caused the U.S. dollar to spike relative to currencies in the developing world. It is the developing countries that are ultimately punished.","text":"The Fed's rate hikes caused the U.S. dollar to spike relative to currencies in the developing world. It is the developing countries that are ultimately punished.","html":"The Fed's rate hikes caused the U.S. dollar to spike relative to currencies in the developing world. It is the developing countries that are ultimately punished."}],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}