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MZ39

MZ39

个人简介：newbie

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2022-01-21

Yes the correction is here. We all need luck!

'Good luck! We'll all need it': U.S. market approaches end of 'superbubble,' says Jeremy Grantham

2021-10-30

Try it!

@小虎活动:[Halloween Game] Trade or Treat!

2021-06-03

非常好的分析[得意]

快手B站围剿斗鱼虎牙

2021-05-15

I think intel would be so happy [龇牙]

U.S. senators expected to announce $52 bln chips funding deal -- sources

2021-02-28

Good move for HK gov, here's a prime example of why dominant monopolistic businesses will always win. We are just mere price takers, too bad HK gov is not listed or else i'll invest [开心]

Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary

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We'll all need it': U.S. market approaches end of 'superbubble,' says Jeremy Grantham","url":"https://stock-news.laohu8.com/highlight/detail?id=2205168440","media":"MarketWatch","summary":"'We are in what I think of as the vampire phase of the bull market,' says GMO co-founder Jeremy Gran","content":"<html><head></head><body><p>&#39;We are in what I think of as the vampire phase of the bull market,&#39; says GMO co-founder Jeremy Grantham</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7628bfef7b4955fa6be7198928ede3ba\" tg-width=\"1320\" tg-height=\"742\" width=\"100%\" height=\"auto\"/><span>GMO co-founder Jeremy Grantham says the Fed doesn’t seem to “get” asset bubbles.</span></p><p>The U.S. is approaching the end of a &#34;superbubble&#34; spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID pandemic, potentially leading to the largest markdown of wealth in its history once pessimism returns to rule markets, according to legendary investor Jeremy Grantham.</p><p>&#34;For the first time in the U.S. we have simultaneous bubbles across all major asset classes,&#34; said Grantham, co-founder of investment firm GMO, in a paper Thursday. He estimated wealth losses could total $35 trillion in the U.S. should valuations across major asset classes return two-thirds of the way to historical norms.</p><p>&#34;One of the main reasons I deplore superbubbles -- and resent the Fed and other financial authorities for allowing and facilitating them -- is the underrecognized damage that bubbles cause as they deflate,&#34; said Grantham.</p><p>The Federal Reserve doesn&#39;t seem to &#34;get&#34; asset bubbles, said Grantham, pointing to the &#34;ineffably massive stimulus for COVID&#34; (some of which he said was necessary) that followed stimulus to recover from the bust of the 2006 housing bubble. &#34;The only &#39;lesson&#39; that the economic establishment appears to have learned from the rubble of 2009 is that we didn&#39;t address it with enough stimulus,&#34; he said.</p><p>Equity bubbles tend to begin to deflate from the riskiest parts of the market first -- as the one that Grantham is warning about has been doing since February 2021, according to his paper. &#34;So, good luck!&#34; he wrote. &#34;We&#39;ll all need it.&#34;</p><p>While the S&amp;P 500 index  and Dow Jones Industrial Average  each notched all-time closing peaks in early January, they&#39;ve since fallen into a slump, along with the Nasdaq Composite Index , as investors anticipate the Fed will end quantitative easing and begin raising interest rates to combat high inflation later this year.</p><p>The technology-laden Nasdaq has seen the biggest decline among the three major stock benchmarks in 2022, tumbling into correction territory after reaching a record high in November, according to FactSet data.</p><p>&#34;We are in what I think of as the vampire phase of the bull market, where you throw everything you have at it,&#34; Grantham wrote. &#34;You stab it with COVID, you shoot it with the end of QE and the promise of higher rates, and you poison it with unexpected inflation -- which has always killed P/E ratios before, but quite uniquely, not this time yet -- and still the creature flies.&#34;</p><p>That is &#34;until, just as you&#39;re beginning to think the thing is completely immortal, it finally, and perhaps a little anticlimactically, keels over and dies,&#34; said Grantham. &#34;The sooner the better for everyone.&#34;</p><p>The Nasdaq has dropped 9.5% this month, through Thursday, exceeding the S&amp;P 500&#39;s nearly 6% slide and a 4.5% loss for the Dow, according to FactSet data.</p><p>As for GMO&#39;s investment recommendations, Grantham summarized them as avoiding U.S. equities while emphasizing value stocks in emerging markets and cheaper developed countries, &#34;most notably Japan.&#34; On a personal note, he said, &#34;I also like some cash for flexibility, some resources for inflation protection, as well as a little gold  and silver.&#34;</p><p>Beyond the recent record highs of the U.S. stock market and &#34;crazy&#34; investor behavior that has accompanied its rise, Grantham warned that &#34;we are indeed participating in the broadest and most extreme global real-estate bubble in history.&#34;  He said that houses in the U.S. are at &#34;the highest multiple of family income ever, after a record 20% gain last year.&#34;</p><p>Plus, said Grantham, &#34;we also have the highest-priced bond markets in the U.S. and most other countries around the world, and the lowest rates, of course, that go with them, that human history has ever seen.&#34;</p><p>And then there&#39;s the &#34;incipient bubble in commodities,&#34; he added. Oil  and most of the &#34;important metals&#34; are among commodities priced broadly &#34;above trend,&#34; while the &#34;U.N.&#39;s index of global food prices is around its all-time high,&#34; according to his paper.</p><p>&#34;The combination, which we saw in 2008, of still-rising commodity prices with a deflating asset price bubble is the ultimate pincer attack on the economy and is all but guaranteed to lead to major economic pain,&#34; he wrote.</p><p>Grantham also considered how wealth compounds more slowly at &#34;bubble pricing,&#34; while making it hard for people to afford their first house or to build an investment portfolio.</p><p>&#34;There is the terrible increase in inequality that goes with higher prices of assets, which many simply do not own, and  &#39;many&#39; applies these days up to the median family or beyond,&#34; he wrote. &#34;They have been let down, know it, and increasingly (and understandably) resent it. And it absolutely hurts our economy.&#34;</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Good luck! 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We'll all need it': U.S. market approaches end of 'superbubble,' says Jeremy Grantham\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-21 19:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/good-luck-well-all-need-it-u-s-market-approaches-end-of-superbubble-says-jeremy-grantham-11642723516?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'We are in what I think of as the vampire phase of the bull market,' says GMO co-founder Jeremy GranthamGMO co-founder Jeremy Grantham says the Fed doesn’t seem to “get” asset bubbles.The U.S. is ...</p>\n\n<a href=\"https://www.marketwatch.com/story/good-luck-well-all-need-it-u-s-market-approaches-end-of-superbubble-says-jeremy-grantham-11642723516?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/good-luck-well-all-need-it-u-s-market-approaches-end-of-superbubble-says-jeremy-grantham-11642723516?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2205168440","content_text":"'We are in what I think of as the vampire phase of the bull market,' says GMO co-founder Jeremy GranthamGMO co-founder Jeremy Grantham says the Fed doesn’t seem to “get” asset bubbles.The U.S. is approaching the end of a \"superbubble\" spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID pandemic, potentially leading to the largest markdown of wealth in its history once pessimism returns to rule markets, according to legendary investor Jeremy Grantham.\"For the first time in the U.S. we have simultaneous bubbles across all major asset classes,\" said Grantham, co-founder of investment firm GMO, in a paper Thursday. He estimated wealth losses could total $35 trillion in the U.S. should valuations across major asset classes return two-thirds of the way to historical norms.\"One of the main reasons I deplore superbubbles -- and resent the Fed and other financial authorities for allowing and facilitating them -- is the underrecognized damage that bubbles cause as they deflate,\" said Grantham.The Federal Reserve doesn't seem to \"get\" asset bubbles, said Grantham, pointing to the \"ineffably massive stimulus for COVID\" (some of which he said was necessary) that followed stimulus to recover from the bust of the 2006 housing bubble. \"The only 'lesson' that the economic establishment appears to have learned from the rubble of 2009 is that we didn't address it with enough stimulus,\" he said.Equity bubbles tend to begin to deflate from the riskiest parts of the market first -- as the one that Grantham is warning about has been doing since February 2021, according to his paper. \"So, good luck!\" he wrote. \"We'll all need it.\"While the S&P 500 index  and Dow Jones Industrial Average  each notched all-time closing peaks in early January, they've since fallen into a slump, along with the Nasdaq Composite Index , as investors anticipate the Fed will end quantitative easing and begin raising interest rates to combat high inflation later this year.The technology-laden Nasdaq has seen the biggest decline among the three major stock benchmarks in 2022, tumbling into correction territory after reaching a record high in November, according to FactSet data.\"We are in what I think of as the vampire phase of the bull market, where you throw everything you have at it,\" Grantham wrote. \"You stab it with COVID, you shoot it with the end of QE and the promise of higher rates, and you poison it with unexpected inflation -- which has always killed P/E ratios before, but quite uniquely, not this time yet -- and still the creature flies.\"That is \"until, just as you're beginning to think the thing is completely immortal, it finally, and perhaps a little anticlimactically, keels over and dies,\" said Grantham. \"The sooner the better for everyone.\"The Nasdaq has dropped 9.5% this month, through Thursday, exceeding the S&P 500's nearly 6% slide and a 4.5% loss for the Dow, according to FactSet data.As for GMO's investment recommendations, Grantham summarized them as avoiding U.S. equities while emphasizing value stocks in emerging markets and cheaper developed countries, \"most notably Japan.\" On a personal note, he said, \"I also like some cash for flexibility, some resources for inflation protection, as well as a little gold  and silver.\"Beyond the recent record highs of the U.S. stock market and \"crazy\" investor behavior that has accompanied its rise, Grantham warned that \"we are indeed participating in the broadest and most extreme global real-estate bubble in history.\"  He said that houses in the U.S. are at \"the highest multiple of family income ever, after a record 20% gain last year.\"Plus, said Grantham, \"we also have the highest-priced bond markets in the U.S. and most other countries around the world, and the lowest rates, of course, that go with them, that human history has ever seen.\"And then there's the \"incipient bubble in commodities,\" he added. Oil  and most of the \"important metals\" are among commodities priced broadly \"above trend,\" while the \"U.N.'s index of global food prices is around its all-time high,\" according to his paper.\"The combination, which we saw in 2008, of still-rising commodity prices with a deflating asset price bubble is the ultimate pincer attack on the economy and is all but guaranteed to lead to major economic pain,\" he wrote.Grantham also considered how wealth compounds more slowly at \"bubble pricing,\" while making it hard for people to afford their first house or to build an investment portfolio.\"There is the terrible increase in inequality that goes with higher prices of assets, which many simply do not own, and  'many' applies these days up to the median family or beyond,\" he wrote. \"They have been let down, know it, and increasingly (and understandably) resent it. And it absolutely hurts our economy.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857264271,"gmtCreate":1635531265963,"gmtModify":1635531266131,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Try it!","listText":"Try it!","text":"Try it!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857264271","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/44a4f89726b3f6319d06a0075bf9ff76","crmLevel":1,"crmLevelSwitch":0},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":111119650,"gmtCreate":1622659948670,"gmtModify":1634099465820,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"非常好的分析[得意]&nbsp;","listText":"非常好的分析[得意]&nbsp;","text":"非常好的分析[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111119650","repostId":"1107822745","repostType":2,"repost":{"id":"1107822745","pubTimestamp":1622523663,"share":"https://www.laohu8.com/m/news/1107822745?lang=&edition=full","pubTime":"2021-06-01 13:01","market":"sh","language":"zh","title":"快手B站围剿斗鱼虎牙","url":"https://stock-news.laohu8.com/highlight/detail?id=1107822745","media":"互联网那些事","summary":"合并黄了之后的斗鱼和虎牙，都怎么样了？\n据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6","content":"<p>合并黄了之后的<a href=\"https://laohu8.com/S/DOYU\">斗鱼</a>和<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>，都怎么样了？</p>\n<p>据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6.7%。</p>\n<p>不论是斗鱼还是虎牙，从2018年至今，不仅营收增速显著下滑，在股价上也一泻千里。据天眼查数据显示，2021年2月19至5月19日的三个月间，斗鱼的股价累计跌下59.33%，虎牙的跌幅也高达55.19%。</p>\n<p>而随着直播进入下半场，主播天价签约费时代已经过去，开始进入“主播带货”为主流的“后直播时代。随着<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>和快手等视频平台开始加码直播领域，更不用说，反垄断阴云还笼罩在斗鱼和虎牙的上空，斗鱼和虎牙这两位老牌直播选手显然已经走到了抉择路口。</p>\n<p>那么，斗鱼和虎牙在这三年中究竟存在着怎样的发展，在“后直播时代”，斗鱼与虎牙“输”在了哪里？合并遥遥无期之后，斗虎将要走向何方？</p>\n<p>且看本文详解！</p>\n<p>潮水之后：斗鱼虎牙知天命？</p>\n<p>时间回到2018年，<a href=\"https://laohu8.com/S/00700\">腾讯</a>大手笔投资了虎牙和斗鱼，从而颠覆了整个直播领域的格局，斗鱼和虎牙成功进入直播领域第一梯队，<a href=\"https://laohu8.com/S/03700\">映客</a>、花椒、一直播等逐渐被甩开，“千播大战”自此结束。</p>\n<p>据天眼查数据显示，虎牙从创办至今共计融资70亿元，斗鱼共计融资45亿元，企鹅电竞和<a href=\"https://laohu8.com/S/NTES\">网易</a>CC融资规模在20多亿，其余直播选手总融资均不超过20亿。</p>\n<p>2018年一季度斗鱼营收同比增长136%，而虎牙则实现了113%的增长，这才两年光景不到，斗鱼和虎牙就纷纷下行。</p>\n<p>2018年动辄上千万的“天价主播”已成过去式，如今的直播平台应该更有议价权一些，按理说能够有更多的资金用于内容的深耕，那为何会走下坡路呢？</p>\n<p>利润增速看，2019年四季度至今，虎牙净利润同比增速从60.35%下降至8.36%，斗鱼甚至转盈为亏，净利润增速从159.54%下降至-123.81%。</p>\n<p><img src=\"https://static.tigerbbs.com/aad8997e7da630c0fff0c8023d58c629\" tg-width=\"553\" tg-height=\"277\" referrerpolicy=\"no-referrer\"></p>\n<p>据数据显示虎牙的经营活动现金流从2017年的2.42亿元提升至19.45亿元，2020疫情期间，在宅经济全面开花的时期，虎牙的经营活动现金反而减少了，仅剩12.4亿元。而斗鱼则更为严重，2016年斗鱼的经营活动现金流为-7.14亿元，2019年提升至8.13亿元，在2020年缩减至6.67亿元。</p>\n<p>可以看到的是，斗鱼和虎牙这两个直播领域的头部企业的经营性现金流均在上升后遭遇下滑，这也就表明直播业务已经面临着天花板风险。</p>\n<p>二者背后的共同股东腾讯，显然已经察觉到了他们的问题，于是迫不及待的想要停止内耗，促成合并，但无奈在合并的重要关头，遭遇了反垄断调查事件，合并事宜被无限期延后。</p>\n<p>斗鱼和虎牙自己也知道，可能合并还没等来，自己已经快没了。</p>\n<p>直播下半场：虎鱼被围剿</p>\n<p>据斗鱼和虎牙的财报显示，二者的的营收虽然分为直播、广告和其他，但直播业务均占据二者总业务的90%以上。</p>\n<p>对直播的过分依赖不仅限制住了斗鱼和虎牙的发展，还给自己的多元化之路带来了“阻挠”。</p>\n<p><img src=\"https://static.tigerbbs.com/a0a8c2b8f1d2f92faf1ca7aa7d2fa7b8\" tg-width=\"554\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p>\n<p>斗鱼和虎牙高度垂直的业务，并且以兴趣为导向，个人IP为支撑的的内容池，虽然在主播和用户之间有着较强的联系，但很难培养潜在客户。</p>\n<p>而原本直播并不属于主要业务的快手和哔哩哔哩，在内容池逐渐饱和之时，依靠up主进军直播业务，是顺水推舟的事情。</p>\n<p>而对斗鱼和虎牙来说，有了更多的竞争对手，意味着更高的获客成本。据财报显示，斗鱼2021第一季度的经营成本为18.92亿元，同比上涨了5.58%，而斗鱼的营销费用在今年第一季度同比上涨了95.32%，值得注意的是，斗鱼和虎牙的运营费用已经连续八个季度增长。</p>\n<p><img src=\"https://static.tigerbbs.com/7fd25bc3509e4c9d889d90e9226aa513\" tg-width=\"553\" tg-height=\"268\" referrerpolicy=\"no-referrer\"></p>\n<p>和外部压力一同增加的还有带宽成本以及电竞赛事的内容成本，随着电竞类目的不断增加，相应配套的赛事也在增加，游戏作为斗鱼虎牙的基本直播领域，也不得不持续跟进引入。</p>\n<p>直播业务触达天花板，付费用户被哔哩哔哩和快手分流，斗鱼和虎牙的营收出现下滑也是自然之理。据天眼查数据显示，2021年第一季度，斗鱼的均MAU为1.92亿，付费用户为700万，付费比例为3.6%，但去年同期斗鱼的付费比例为4.8%，下降幅度明显，而虎牙也出现相似程度的下降。</p>\n<p>很显然，以快手为代表的短视频平台和以哔哩哔哩为代表的内容社区的入场，在斗鱼虎牙最为看中的电竞直播领域，哔哩哔哩也相继跟进，近似肉搏的竞争，正使得斗鱼虎牙等直播平台提前碰到业务天花板。</p>\n<p>斗鱼虎牙还有机会吗？</p>\n<p>快手和和哔哩哔哩已经攻进了斗鱼虎牙的腹地，那么斗鱼和虎牙这些老直播选手们只能等死了吗？</p>\n<p>非也。</p>\n<p><img src=\"https://static.tigerbbs.com/37631ad8f9294b3376fa0ec01fcd4a69\" tg-width=\"553\" tg-height=\"344\" referrerpolicy=\"no-referrer\"></p>\n<p>不论是快手还是哔哩哔哩，还是斗鱼和虎牙，本质上都是内容平台，而相互之间的竞争本质上是内容的争夺。</p>\n<p>斗鱼和虎牙在主播以及扶持创作者上的力度，要远远低于快手和哔哩哔哩，与快手动辄上千万上亿的流量扶持相比，斗鱼和虎牙能给的资源也有些捉襟见肘，</p>\n<p>另一方面，据《2020中国网络表演（直播）行业发展报告数据显示，2020年网络直播用户规模达到6.17亿人，占中国网民整体的62.4%，而另一数据显示，中国手机上网用户已经来到8.83亿人，直播用户的增长空间已经所剩无几。</p>\n<p>值得注意的是，电商直播在2020年实现了快速增长，达到3.88亿人，不论是淘宝还是<a href=\"https://laohu8.com/S/DYIN\">抖音</a>还是快手，都在朝着直播电商发力。据数据显示淘宝直播在2020年实现GMV5000多亿，快手的这一数据是3814亿，而抖音则超4000亿。</p>\n<p>而电商直播注重个人IP和影响力和斗鱼虎牙的特质不谋而合，斗鱼虎牙完全可以以电竞、游戏等垂类进军直播电商领域。</p>\n<p>然后再以垂类电商为支点，从而复制本垂类经验进军母婴、生活等相应垂类，用以补齐直播业务中的电商业务短板。</p>\n<p>如果聚焦于垂类电商，打造内容与电商直播双循环，或许能拥有与快手和哔哩哔哩一战的能力。</p>\n<p>只是，还有多少时间给斗鱼和虎牙呢？</p>","source":"lsy1607570602121","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\" 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.h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n快手B站围剿斗鱼虎牙\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 13:01 北京时间&nbsp;&nbsp;&nbsp;<a href=https://36kr.com/p/1249136170453256><strong>互联网那些事</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>合并黄了之后的斗鱼和虎牙，都怎么样了？\n据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6.7%。\n不论是斗鱼还是虎牙，从2018年至今，不仅营收增速显著下滑，在股价上也一泻千里。据天眼查数据显示，2021年2月19至5月19日的三个月间，斗鱼的股价累计跌下59.33%，虎牙的跌幅也高达...</p>\n\n<a href=\"https://36kr.com/p/1249136170453256\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6af724efafb5788a889a167ca9c1dc5c","relate_stocks":{"HUYA":"虎牙","DOYU":"斗鱼","09626":"哔哩哔哩-W","BILI":"哔哩哔哩","01024":"快手-W"},"source_url":"https://36kr.com/p/1249136170453256","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107822745","content_text":"合并黄了之后的斗鱼和虎牙，都怎么样了？\n据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6.7%。\n不论是斗鱼还是虎牙，从2018年至今，不仅营收增速显著下滑，在股价上也一泻千里。据天眼查数据显示，2021年2月19至5月19日的三个月间，斗鱼的股价累计跌下59.33%，虎牙的跌幅也高达55.19%。\n而随着直播进入下半场，主播天价签约费时代已经过去，开始进入“主播带货”为主流的“后直播时代。随着哔哩哔哩和快手等视频平台开始加码直播领域，更不用说，反垄断阴云还笼罩在斗鱼和虎牙的上空，斗鱼和虎牙这两位老牌直播选手显然已经走到了抉择路口。\n那么，斗鱼和虎牙在这三年中究竟存在着怎样的发展，在“后直播时代”，斗鱼与虎牙“输”在了哪里？合并遥遥无期之后，斗虎将要走向何方？\n且看本文详解！\n潮水之后：斗鱼虎牙知天命？\n时间回到2018年，腾讯大手笔投资了虎牙和斗鱼，从而颠覆了整个直播领域的格局，斗鱼和虎牙成功进入直播领域第一梯队，映客、花椒、一直播等逐渐被甩开，“千播大战”自此结束。\n据天眼查数据显示，虎牙从创办至今共计融资70亿元，斗鱼共计融资45亿元，企鹅电竞和网易CC融资规模在20多亿，其余直播选手总融资均不超过20亿。\n2018年一季度斗鱼营收同比增长136%，而虎牙则实现了113%的增长，这才两年光景不到，斗鱼和虎牙就纷纷下行。\n2018年动辄上千万的“天价主播”已成过去式，如今的直播平台应该更有议价权一些，按理说能够有更多的资金用于内容的深耕，那为何会走下坡路呢？\n利润增速看，2019年四季度至今，虎牙净利润同比增速从60.35%下降至8.36%，斗鱼甚至转盈为亏，净利润增速从159.54%下降至-123.81%。\n\n据数据显示虎牙的经营活动现金流从2017年的2.42亿元提升至19.45亿元，2020疫情期间，在宅经济全面开花的时期，虎牙的经营活动现金反而减少了，仅剩12.4亿元。而斗鱼则更为严重，2016年斗鱼的经营活动现金流为-7.14亿元，2019年提升至8.13亿元，在2020年缩减至6.67亿元。\n可以看到的是，斗鱼和虎牙这两个直播领域的头部企业的经营性现金流均在上升后遭遇下滑，这也就表明直播业务已经面临着天花板风险。\n二者背后的共同股东腾讯，显然已经察觉到了他们的问题，于是迫不及待的想要停止内耗，促成合并，但无奈在合并的重要关头，遭遇了反垄断调查事件，合并事宜被无限期延后。\n斗鱼和虎牙自己也知道，可能合并还没等来，自己已经快没了。\n直播下半场：虎鱼被围剿\n据斗鱼和虎牙的财报显示，二者的的营收虽然分为直播、广告和其他，但直播业务均占据二者总业务的90%以上。\n对直播的过分依赖不仅限制住了斗鱼和虎牙的发展，还给自己的多元化之路带来了“阻挠”。\n\n斗鱼和虎牙高度垂直的业务，并且以兴趣为导向，个人IP为支撑的的内容池，虽然在主播和用户之间有着较强的联系，但很难培养潜在客户。\n而原本直播并不属于主要业务的快手和哔哩哔哩，在内容池逐渐饱和之时，依靠up主进军直播业务，是顺水推舟的事情。\n而对斗鱼和虎牙来说，有了更多的竞争对手，意味着更高的获客成本。据财报显示，斗鱼2021第一季度的经营成本为18.92亿元，同比上涨了5.58%，而斗鱼的营销费用在今年第一季度同比上涨了95.32%，值得注意的是，斗鱼和虎牙的运营费用已经连续八个季度增长。\n\n和外部压力一同增加的还有带宽成本以及电竞赛事的内容成本，随着电竞类目的不断增加，相应配套的赛事也在增加，游戏作为斗鱼虎牙的基本直播领域，也不得不持续跟进引入。\n直播业务触达天花板，付费用户被哔哩哔哩和快手分流，斗鱼和虎牙的营收出现下滑也是自然之理。据天眼查数据显示，2021年第一季度，斗鱼的均MAU为1.92亿，付费用户为700万，付费比例为3.6%，但去年同期斗鱼的付费比例为4.8%，下降幅度明显，而虎牙也出现相似程度的下降。\n很显然，以快手为代表的短视频平台和以哔哩哔哩为代表的内容社区的入场，在斗鱼虎牙最为看中的电竞直播领域，哔哩哔哩也相继跟进，近似肉搏的竞争，正使得斗鱼虎牙等直播平台提前碰到业务天花板。\n斗鱼虎牙还有机会吗？\n快手和和哔哩哔哩已经攻进了斗鱼虎牙的腹地，那么斗鱼和虎牙这些老直播选手们只能等死了吗？\n非也。\n\n不论是快手还是哔哩哔哩，还是斗鱼和虎牙，本质上都是内容平台，而相互之间的竞争本质上是内容的争夺。\n斗鱼和虎牙在主播以及扶持创作者上的力度，要远远低于快手和哔哩哔哩，与快手动辄上千万上亿的流量扶持相比，斗鱼和虎牙能给的资源也有些捉襟见肘，\n另一方面，据《2020中国网络表演（直播）行业发展报告数据显示，2020年网络直播用户规模达到6.17亿人，占中国网民整体的62.4%，而另一数据显示，中国手机上网用户已经来到8.83亿人，直播用户的增长空间已经所剩无几。\n值得注意的是，电商直播在2020年实现了快速增长，达到3.88亿人，不论是淘宝还是抖音还是快手，都在朝着直播电商发力。据数据显示淘宝直播在2020年实现GMV5000多亿，快手的这一数据是3814亿，而抖音则超4000亿。\n而电商直播注重个人IP和影响力和斗鱼虎牙的特质不谋而合，斗鱼虎牙完全可以以电竞、游戏等垂类进军直播电商领域。\n然后再以垂类电商为支点，从而复制本垂类经验进军母婴、生活等相应垂类，用以补齐直播业务中的电商业务短板。\n如果聚焦于垂类电商，打造内容与电商直播双循环，或许能拥有与快手和哔哩哔哩一战的能力。\n只是，还有多少时间给斗鱼和虎牙呢？","news_type":1},"isVote":1,"tweetType":1,"viewCount":803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":196391013,"gmtCreate":1621011630232,"gmtModify":1634194557808,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"I think intel would be so happy&nbsp;[龇牙]&nbsp;","listText":"I think intel would be so happy&nbsp;[龇牙]&nbsp;","text":"I think intel would be so happy [龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/196391013","repostId":"1187261016","repostType":2,"repost":{"id":"1187261016","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":1621000005,"share":"https://www.laohu8.com/m/news/1187261016?lang=&edition=full","pubTime":"2021-05-14 21:46","market":"us","language":"en","title":"U.S. senators expected to announce $52 bln chips funding deal -- sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1187261016","media":"Reuters","summary":"May 14  - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expec","content":"<p>May 14 (Reuters) - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.</p><p>Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expected to be included in a bill the Senate will take up next week on funding basic U.S. and advanced technology research. (Reporting by David Shepardson and Michael Martina)</p>","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>U.S. senators expected to announce $52 bln chips funding deal -- sources</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\">\nU.S. senators expected to announce $52 bln chips funding deal -- sources\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\">2021-05-14 21:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 14 (Reuters) - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.</p><p>Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expected to be included in a bill the Senate will take up next week on funding basic U.S. and advanced technology research. (Reporting by David Shepardson and Michael Martina)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STM":"意法半导体","QCOM":"高通","ASML":"阿斯麦","INTC":"英特尔","NVDA":"英伟达","AMD":"美国超微公司","TSM":"台积电","NXPI":"恩智浦","SSNLF":"三星电子","MU":"美光科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187261016","content_text":"May 14 (Reuters) - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expected to be included in a bill the Senate will take up next week on funding basic U.S. and advanced technology research. (Reporting by David Shepardson and Michael Martina)","news_type":1},"isVote":1,"tweetType":1,"viewCount":583,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":366547519,"gmtCreate":1614523254731,"gmtModify":1703478007930,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Good move for HK gov, here's a prime example of why dominant monopolistic businesses will always win. We are just mere price takers, too bad HK gov is not listed or else i'll invest&nbsp;[开心]&nbsp;","listText":"Good move for HK gov, here's a prime example of why dominant monopolistic businesses will always win. We are just mere price takers, too bad HK gov is not listed or else i'll invest&nbsp;[开心]&nbsp;","text":"Good move for HK gov, here's a prime example of why dominant monopolistic businesses will always win. We are just mere price takers, too bad HK gov is not listed or else i'll invest [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366547519","repostId":"1181374212","repostType":4,"repost":{"id":"1181374212","pubTimestamp":1614335737,"share":"https://www.laohu8.com/m/news/1181374212?lang=&edition=full","pubTime":"2021-02-26 18:35","market":"hk","language":"en","title":"Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary","url":"https://stock-news.laohu8.com/highlight/detail?id=1181374212","media":"cnbc","summary":"Hong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.Chan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.Chan said in his budget speech on Wednesday","content":"<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary</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\">\nTrading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 18:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00388":"香港交易所","HSCEI":"国企指数","HSI":"恒生指数","HSCCI":"红筹指数"},"source_url":"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1181374212","content_text":"KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.\nThe move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The announcement sparked a sell-off in shares of the operator of the city’s stock exchange, and the broader Hong Kong market.\n“The Hong Kong market has been doing very well, very active, the volume has gone up quite a bit,” Chan told CNBC’s Emily Tan.\n“So, perhaps this is the time for us to increase a little bit on the stamp duty which will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” he added.\nThe financial secretary said Hong Kong authorities have in recent years launched different initiatives to enhance the competitiveness of the city’s stock market. That includes allowing listings of dual-class shares and attracting U.S.-listed Chinese companies to seek a secondary listing in Hong Kong, he said.\nHong Kong in 2020 was one of the top markets for listings globally as Chinese firms such as e-commerce giant JD.com and gaming company NetEase raised funds through secondary listings.\nIn total, the city’s stock exchange saw 132 initial public offerings worth $32.1 billion, and 199 further offerings worth $62.9 billion last year, according to data compiled by consultancy PwC.\nWith such “robust” capital markets activity, raising the trading stamp duty may offer Hong Kong “a quick solution” to increase its tax revenue in the short term, said Stanley Ho, a partner for corporate tax advisory at consultancy KPMG China.\n“However, it is also important for Hong Kong’s capital markets to stay competitive with global financial markets, many of which are trending towards reducing or removing such duties,” Ho said in a statement after Chan’s budget speech.\nChan said he remains confident of Hong Kong’s prospects as an international financial center.\nHe explained that the government is working on promoting Hong Kong as a center for sustainable and green finance, developing further the city’s fixed income markets and encouraging more activity in the asset and wealth management sectors.\nOn the stock market sell-off after his announcement of the trading tax hike, Chan said Hong Kong wasn’t the only one experiencing a “downward adjustment” following a previous run-up.\n“So, I would not be bothered by temporary fluctuations in the market. What we believe is we continue to work hard to enhance the offering of our market to further enhance the competitiveness and attractiveness of the Hong Kong market,” he said.\n“We will continue to attract inflow of international capital.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":472,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":196391013,"gmtCreate":1621011630232,"gmtModify":1634194557808,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"I think intel would be so happy&nbsp;[龇牙]&nbsp;","listText":"I think intel would be so happy&nbsp;[龇牙]&nbsp;","text":"I think intel would be so happy [龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/196391013","repostId":"1187261016","repostType":2,"repost":{"id":"1187261016","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":1621000005,"share":"https://www.laohu8.com/m/news/1187261016?lang=&edition=full","pubTime":"2021-05-14 21:46","market":"us","language":"en","title":"U.S. senators expected to announce $52 bln chips funding deal -- sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1187261016","media":"Reuters","summary":"May 14  - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expec","content":"<p>May 14 (Reuters) - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.</p><p>Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expected to be included in a bill the Senate will take up next week on funding basic U.S. and advanced technology research. (Reporting by David Shepardson and Michael Martina)</p>","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>U.S. senators expected to announce $52 bln chips funding deal -- sources</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\">\nU.S. senators expected to announce $52 bln chips funding deal -- sources\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\">2021-05-14 21:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>May 14 (Reuters) - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.</p><p>Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expected to be included in a bill the Senate will take up next week on funding basic U.S. and advanced technology research. (Reporting by David Shepardson and Michael Martina)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STM":"意法半导体","QCOM":"高通","ASML":"阿斯麦","INTC":"英特尔","NVDA":"英伟达","AMD":"美国超微公司","TSM":"台积电","NXPI":"恩智浦","SSNLF":"三星电子","MU":"美光科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187261016","content_text":"May 14 (Reuters) - A bipartisan group of U.S. senators is expected to unveil a $52 billion proposal on Friday that would significantly boost U.S. semiconductor chip production and research over five years, sources briefed on the matter said.Senators Mark Kelly, John Cornyn, Mark Warner and Tom Cotton have been negotiating a compromise measure to address the issue in the face of rising Chinese semiconductor production and shortages impacting automakers and other U.S. industries. The chips funding is expected to be included in a bill the Senate will take up next week on funding basic U.S. and advanced technology research. (Reporting by David Shepardson and Michael Martina)","news_type":1},"isVote":1,"tweetType":1,"viewCount":583,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":366547519,"gmtCreate":1614523254731,"gmtModify":1703478007930,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Good move for HK gov, here's a prime example of why dominant monopolistic businesses will always win. We are just mere price takers, too bad HK gov is not listed or else i'll invest&nbsp;[开心]&nbsp;","listText":"Good move for HK gov, here's a prime example of why dominant monopolistic businesses will always win. We are just mere price takers, too bad HK gov is not listed or else i'll invest&nbsp;[开心]&nbsp;","text":"Good move for HK gov, here's a prime example of why dominant monopolistic businesses will always win. We are just mere price takers, too bad HK gov is not listed or else i'll invest [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366547519","repostId":"1181374212","repostType":4,"repost":{"id":"1181374212","pubTimestamp":1614335737,"share":"https://www.laohu8.com/m/news/1181374212?lang=&edition=full","pubTime":"2021-02-26 18:35","market":"hk","language":"en","title":"Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary","url":"https://stock-news.laohu8.com/highlight/detail?id=1181374212","media":"cnbc","summary":"Hong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.Chan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.Chan said in his budget speech on Wednesday","content":"<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary</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\">\nTrading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 18:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00388":"香港交易所","HSCEI":"国企指数","HSI":"恒生指数","HSCCI":"红筹指数"},"source_url":"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1181374212","content_text":"KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.\nThe move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The announcement sparked a sell-off in shares of the operator of the city’s stock exchange, and the broader Hong Kong market.\n“The Hong Kong market has been doing very well, very active, the volume has gone up quite a bit,” Chan told CNBC’s Emily Tan.\n“So, perhaps this is the time for us to increase a little bit on the stamp duty which will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” he added.\nThe financial secretary said Hong Kong authorities have in recent years launched different initiatives to enhance the competitiveness of the city’s stock market. That includes allowing listings of dual-class shares and attracting U.S.-listed Chinese companies to seek a secondary listing in Hong Kong, he said.\nHong Kong in 2020 was one of the top markets for listings globally as Chinese firms such as e-commerce giant JD.com and gaming company NetEase raised funds through secondary listings.\nIn total, the city’s stock exchange saw 132 initial public offerings worth $32.1 billion, and 199 further offerings worth $62.9 billion last year, according to data compiled by consultancy PwC.\nWith such “robust” capital markets activity, raising the trading stamp duty may offer Hong Kong “a quick solution” to increase its tax revenue in the short term, said Stanley Ho, a partner for corporate tax advisory at consultancy KPMG China.\n“However, it is also important for Hong Kong’s capital markets to stay competitive with global financial markets, many of which are trending towards reducing or removing such duties,” Ho said in a statement after Chan’s budget speech.\nChan said he remains confident of Hong Kong’s prospects as an international financial center.\nHe explained that the government is working on promoting Hong Kong as a center for sustainable and green finance, developing further the city’s fixed income markets and encouraging more activity in the asset and wealth management sectors.\nOn the stock market sell-off after his announcement of the trading tax hike, Chan said Hong Kong wasn’t the only one experiencing a “downward adjustment” following a previous run-up.\n“So, I would not be bothered by temporary fluctuations in the market. What we believe is we continue to work hard to enhance the offering of our market to further enhance the competitiveness and attractiveness of the Hong Kong market,” he said.\n“We will continue to attract inflow of international capital.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":472,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":111119650,"gmtCreate":1622659948670,"gmtModify":1634099465820,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"非常好的分析[得意]&nbsp;","listText":"非常好的分析[得意]&nbsp;","text":"非常好的分析[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111119650","repostId":"1107822745","repostType":2,"repost":{"id":"1107822745","pubTimestamp":1622523663,"share":"https://www.laohu8.com/m/news/1107822745?lang=&edition=full","pubTime":"2021-06-01 13:01","market":"sh","language":"zh","title":"快手B站围剿斗鱼虎牙","url":"https://stock-news.laohu8.com/highlight/detail?id=1107822745","media":"互联网那些事","summary":"合并黄了之后的斗鱼和虎牙，都怎么样了？\n据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6","content":"<p>合并黄了之后的<a href=\"https://laohu8.com/S/DOYU\">斗鱼</a>和<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>，都怎么样了？</p>\n<p>据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6.7%。</p>\n<p>不论是斗鱼还是虎牙，从2018年至今，不仅营收增速显著下滑，在股价上也一泻千里。据天眼查数据显示，2021年2月19至5月19日的三个月间，斗鱼的股价累计跌下59.33%，虎牙的跌幅也高达55.19%。</p>\n<p>而随着直播进入下半场，主播天价签约费时代已经过去，开始进入“主播带货”为主流的“后直播时代。随着<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>和快手等视频平台开始加码直播领域，更不用说，反垄断阴云还笼罩在斗鱼和虎牙的上空，斗鱼和虎牙这两位老牌直播选手显然已经走到了抉择路口。</p>\n<p>那么，斗鱼和虎牙在这三年中究竟存在着怎样的发展，在“后直播时代”，斗鱼与虎牙“输”在了哪里？合并遥遥无期之后，斗虎将要走向何方？</p>\n<p>且看本文详解！</p>\n<p>潮水之后：斗鱼虎牙知天命？</p>\n<p>时间回到2018年，<a href=\"https://laohu8.com/S/00700\">腾讯</a>大手笔投资了虎牙和斗鱼，从而颠覆了整个直播领域的格局，斗鱼和虎牙成功进入直播领域第一梯队，<a href=\"https://laohu8.com/S/03700\">映客</a>、花椒、一直播等逐渐被甩开，“千播大战”自此结束。</p>\n<p>据天眼查数据显示，虎牙从创办至今共计融资70亿元，斗鱼共计融资45亿元，企鹅电竞和<a href=\"https://laohu8.com/S/NTES\">网易</a>CC融资规模在20多亿，其余直播选手总融资均不超过20亿。</p>\n<p>2018年一季度斗鱼营收同比增长136%，而虎牙则实现了113%的增长，这才两年光景不到，斗鱼和虎牙就纷纷下行。</p>\n<p>2018年动辄上千万的“天价主播”已成过去式，如今的直播平台应该更有议价权一些，按理说能够有更多的资金用于内容的深耕，那为何会走下坡路呢？</p>\n<p>利润增速看，2019年四季度至今，虎牙净利润同比增速从60.35%下降至8.36%，斗鱼甚至转盈为亏，净利润增速从159.54%下降至-123.81%。</p>\n<p><img src=\"https://static.tigerbbs.com/aad8997e7da630c0fff0c8023d58c629\" tg-width=\"553\" tg-height=\"277\" referrerpolicy=\"no-referrer\"></p>\n<p>据数据显示虎牙的经营活动现金流从2017年的2.42亿元提升至19.45亿元，2020疫情期间，在宅经济全面开花的时期，虎牙的经营活动现金反而减少了，仅剩12.4亿元。而斗鱼则更为严重，2016年斗鱼的经营活动现金流为-7.14亿元，2019年提升至8.13亿元，在2020年缩减至6.67亿元。</p>\n<p>可以看到的是，斗鱼和虎牙这两个直播领域的头部企业的经营性现金流均在上升后遭遇下滑，这也就表明直播业务已经面临着天花板风险。</p>\n<p>二者背后的共同股东腾讯，显然已经察觉到了他们的问题，于是迫不及待的想要停止内耗，促成合并，但无奈在合并的重要关头，遭遇了反垄断调查事件，合并事宜被无限期延后。</p>\n<p>斗鱼和虎牙自己也知道，可能合并还没等来，自己已经快没了。</p>\n<p>直播下半场：虎鱼被围剿</p>\n<p>据斗鱼和虎牙的财报显示，二者的的营收虽然分为直播、广告和其他，但直播业务均占据二者总业务的90%以上。</p>\n<p>对直播的过分依赖不仅限制住了斗鱼和虎牙的发展，还给自己的多元化之路带来了“阻挠”。</p>\n<p><img src=\"https://static.tigerbbs.com/a0a8c2b8f1d2f92faf1ca7aa7d2fa7b8\" tg-width=\"554\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p>\n<p>斗鱼和虎牙高度垂直的业务，并且以兴趣为导向，个人IP为支撑的的内容池，虽然在主播和用户之间有着较强的联系，但很难培养潜在客户。</p>\n<p>而原本直播并不属于主要业务的快手和哔哩哔哩，在内容池逐渐饱和之时，依靠up主进军直播业务，是顺水推舟的事情。</p>\n<p>而对斗鱼和虎牙来说，有了更多的竞争对手，意味着更高的获客成本。据财报显示，斗鱼2021第一季度的经营成本为18.92亿元，同比上涨了5.58%，而斗鱼的营销费用在今年第一季度同比上涨了95.32%，值得注意的是，斗鱼和虎牙的运营费用已经连续八个季度增长。</p>\n<p><img src=\"https://static.tigerbbs.com/7fd25bc3509e4c9d889d90e9226aa513\" tg-width=\"553\" tg-height=\"268\" referrerpolicy=\"no-referrer\"></p>\n<p>和外部压力一同增加的还有带宽成本以及电竞赛事的内容成本，随着电竞类目的不断增加，相应配套的赛事也在增加，游戏作为斗鱼虎牙的基本直播领域，也不得不持续跟进引入。</p>\n<p>直播业务触达天花板，付费用户被哔哩哔哩和快手分流，斗鱼和虎牙的营收出现下滑也是自然之理。据天眼查数据显示，2021年第一季度，斗鱼的均MAU为1.92亿，付费用户为700万，付费比例为3.6%，但去年同期斗鱼的付费比例为4.8%，下降幅度明显，而虎牙也出现相似程度的下降。</p>\n<p>很显然，以快手为代表的短视频平台和以哔哩哔哩为代表的内容社区的入场，在斗鱼虎牙最为看中的电竞直播领域，哔哩哔哩也相继跟进，近似肉搏的竞争，正使得斗鱼虎牙等直播平台提前碰到业务天花板。</p>\n<p>斗鱼虎牙还有机会吗？</p>\n<p>快手和和哔哩哔哩已经攻进了斗鱼虎牙的腹地，那么斗鱼和虎牙这些老直播选手们只能等死了吗？</p>\n<p>非也。</p>\n<p><img src=\"https://static.tigerbbs.com/37631ad8f9294b3376fa0ec01fcd4a69\" tg-width=\"553\" tg-height=\"344\" referrerpolicy=\"no-referrer\"></p>\n<p>不论是快手还是哔哩哔哩，还是斗鱼和虎牙，本质上都是内容平台，而相互之间的竞争本质上是内容的争夺。</p>\n<p>斗鱼和虎牙在主播以及扶持创作者上的力度，要远远低于快手和哔哩哔哩，与快手动辄上千万上亿的流量扶持相比，斗鱼和虎牙能给的资源也有些捉襟见肘，</p>\n<p>另一方面，据《2020中国网络表演（直播）行业发展报告数据显示，2020年网络直播用户规模达到6.17亿人，占中国网民整体的62.4%，而另一数据显示，中国手机上网用户已经来到8.83亿人，直播用户的增长空间已经所剩无几。</p>\n<p>值得注意的是，电商直播在2020年实现了快速增长，达到3.88亿人，不论是淘宝还是<a href=\"https://laohu8.com/S/DYIN\">抖音</a>还是快手，都在朝着直播电商发力。据数据显示淘宝直播在2020年实现GMV5000多亿，快手的这一数据是3814亿，而抖音则超4000亿。</p>\n<p>而电商直播注重个人IP和影响力和斗鱼虎牙的特质不谋而合，斗鱼虎牙完全可以以电竞、游戏等垂类进军直播电商领域。</p>\n<p>然后再以垂类电商为支点，从而复制本垂类经验进军母婴、生活等相应垂类，用以补齐直播业务中的电商业务短板。</p>\n<p>如果聚焦于垂类电商，打造内容与电商直播双循环，或许能拥有与快手和哔哩哔哩一战的能力。</p>\n<p>只是，还有多少时间给斗鱼和虎牙呢？</p>","source":"lsy1607570602121","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>快手B站围剿斗鱼虎牙</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; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n快手B站围剿斗鱼虎牙\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 13:01 北京时间&nbsp;&nbsp;&nbsp;<a href=https://36kr.com/p/1249136170453256><strong>互联网那些事</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>合并黄了之后的斗鱼和虎牙，都怎么样了？\n据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6.7%。\n不论是斗鱼还是虎牙，从2018年至今，不仅营收增速显著下滑，在股价上也一泻千里。据天眼查数据显示，2021年2月19至5月19日的三个月间，斗鱼的股价累计跌下59.33%，虎牙的跌幅也高达...</p>\n\n<a href=\"https://36kr.com/p/1249136170453256\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6af724efafb5788a889a167ca9c1dc5c","relate_stocks":{"HUYA":"虎牙","DOYU":"斗鱼","09626":"哔哩哔哩-W","BILI":"哔哩哔哩","01024":"快手-W"},"source_url":"https://36kr.com/p/1249136170453256","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107822745","content_text":"合并黄了之后的斗鱼和虎牙，都怎么样了？\n据虎牙和斗鱼公布的2021第一季度财报显示，2021年第一季度虎牙总收入为26.05亿元，同比增长8%，而斗鱼则在今年第一季度实现营收21.52亿元，同比增加6.7%。\n不论是斗鱼还是虎牙，从2018年至今，不仅营收增速显著下滑，在股价上也一泻千里。据天眼查数据显示，2021年2月19至5月19日的三个月间，斗鱼的股价累计跌下59.33%，虎牙的跌幅也高达55.19%。\n而随着直播进入下半场，主播天价签约费时代已经过去，开始进入“主播带货”为主流的“后直播时代。随着哔哩哔哩和快手等视频平台开始加码直播领域，更不用说，反垄断阴云还笼罩在斗鱼和虎牙的上空，斗鱼和虎牙这两位老牌直播选手显然已经走到了抉择路口。\n那么，斗鱼和虎牙在这三年中究竟存在着怎样的发展，在“后直播时代”，斗鱼与虎牙“输”在了哪里？合并遥遥无期之后，斗虎将要走向何方？\n且看本文详解！\n潮水之后：斗鱼虎牙知天命？\n时间回到2018年，腾讯大手笔投资了虎牙和斗鱼，从而颠覆了整个直播领域的格局，斗鱼和虎牙成功进入直播领域第一梯队，映客、花椒、一直播等逐渐被甩开，“千播大战”自此结束。\n据天眼查数据显示，虎牙从创办至今共计融资70亿元，斗鱼共计融资45亿元，企鹅电竞和网易CC融资规模在20多亿，其余直播选手总融资均不超过20亿。\n2018年一季度斗鱼营收同比增长136%，而虎牙则实现了113%的增长，这才两年光景不到，斗鱼和虎牙就纷纷下行。\n2018年动辄上千万的“天价主播”已成过去式，如今的直播平台应该更有议价权一些，按理说能够有更多的资金用于内容的深耕，那为何会走下坡路呢？\n利润增速看，2019年四季度至今，虎牙净利润同比增速从60.35%下降至8.36%，斗鱼甚至转盈为亏，净利润增速从159.54%下降至-123.81%。\n\n据数据显示虎牙的经营活动现金流从2017年的2.42亿元提升至19.45亿元，2020疫情期间，在宅经济全面开花的时期，虎牙的经营活动现金反而减少了，仅剩12.4亿元。而斗鱼则更为严重，2016年斗鱼的经营活动现金流为-7.14亿元，2019年提升至8.13亿元，在2020年缩减至6.67亿元。\n可以看到的是，斗鱼和虎牙这两个直播领域的头部企业的经营性现金流均在上升后遭遇下滑，这也就表明直播业务已经面临着天花板风险。\n二者背后的共同股东腾讯，显然已经察觉到了他们的问题，于是迫不及待的想要停止内耗，促成合并，但无奈在合并的重要关头，遭遇了反垄断调查事件，合并事宜被无限期延后。\n斗鱼和虎牙自己也知道，可能合并还没等来，自己已经快没了。\n直播下半场：虎鱼被围剿\n据斗鱼和虎牙的财报显示，二者的的营收虽然分为直播、广告和其他，但直播业务均占据二者总业务的90%以上。\n对直播的过分依赖不仅限制住了斗鱼和虎牙的发展，还给自己的多元化之路带来了“阻挠”。\n\n斗鱼和虎牙高度垂直的业务，并且以兴趣为导向，个人IP为支撑的的内容池，虽然在主播和用户之间有着较强的联系，但很难培养潜在客户。\n而原本直播并不属于主要业务的快手和哔哩哔哩，在内容池逐渐饱和之时，依靠up主进军直播业务，是顺水推舟的事情。\n而对斗鱼和虎牙来说，有了更多的竞争对手，意味着更高的获客成本。据财报显示，斗鱼2021第一季度的经营成本为18.92亿元，同比上涨了5.58%，而斗鱼的营销费用在今年第一季度同比上涨了95.32%，值得注意的是，斗鱼和虎牙的运营费用已经连续八个季度增长。\n\n和外部压力一同增加的还有带宽成本以及电竞赛事的内容成本，随着电竞类目的不断增加，相应配套的赛事也在增加，游戏作为斗鱼虎牙的基本直播领域，也不得不持续跟进引入。\n直播业务触达天花板，付费用户被哔哩哔哩和快手分流，斗鱼和虎牙的营收出现下滑也是自然之理。据天眼查数据显示，2021年第一季度，斗鱼的均MAU为1.92亿，付费用户为700万，付费比例为3.6%，但去年同期斗鱼的付费比例为4.8%，下降幅度明显，而虎牙也出现相似程度的下降。\n很显然，以快手为代表的短视频平台和以哔哩哔哩为代表的内容社区的入场，在斗鱼虎牙最为看中的电竞直播领域，哔哩哔哩也相继跟进，近似肉搏的竞争，正使得斗鱼虎牙等直播平台提前碰到业务天花板。\n斗鱼虎牙还有机会吗？\n快手和和哔哩哔哩已经攻进了斗鱼虎牙的腹地，那么斗鱼和虎牙这些老直播选手们只能等死了吗？\n非也。\n\n不论是快手还是哔哩哔哩，还是斗鱼和虎牙，本质上都是内容平台，而相互之间的竞争本质上是内容的争夺。\n斗鱼和虎牙在主播以及扶持创作者上的力度，要远远低于快手和哔哩哔哩，与快手动辄上千万上亿的流量扶持相比，斗鱼和虎牙能给的资源也有些捉襟见肘，\n另一方面，据《2020中国网络表演（直播）行业发展报告数据显示，2020年网络直播用户规模达到6.17亿人，占中国网民整体的62.4%，而另一数据显示，中国手机上网用户已经来到8.83亿人，直播用户的增长空间已经所剩无几。\n值得注意的是，电商直播在2020年实现了快速增长，达到3.88亿人，不论是淘宝还是抖音还是快手，都在朝着直播电商发力。据数据显示淘宝直播在2020年实现GMV5000多亿，快手的这一数据是3814亿，而抖音则超4000亿。\n而电商直播注重个人IP和影响力和斗鱼虎牙的特质不谋而合，斗鱼虎牙完全可以以电竞、游戏等垂类进军直播电商领域。\n然后再以垂类电商为支点，从而复制本垂类经验进军母婴、生活等相应垂类，用以补齐直播业务中的电商业务短板。\n如果聚焦于垂类电商，打造内容与电商直播双循环，或许能拥有与快手和哔哩哔哩一战的能力。\n只是，还有多少时间给斗鱼和虎牙呢？","news_type":1},"isVote":1,"tweetType":1,"viewCount":803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":630846636,"gmtCreate":1642780541626,"gmtModify":1642780542055,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Yes the correction is here. We all need luck!","listText":"Yes the correction is here. We all need luck!","text":"Yes the correction is here. We all need luck!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/630846636","repostId":"2205168440","repostType":4,"repost":{"id":"2205168440","pubTimestamp":1642765997,"share":"https://www.laohu8.com/m/news/2205168440?lang=&edition=full","pubTime":"2022-01-21 19:53","market":"us","language":"en","title":"'Good luck! We'll all need it': U.S. market approaches end of 'superbubble,' says Jeremy Grantham","url":"https://stock-news.laohu8.com/highlight/detail?id=2205168440","media":"MarketWatch","summary":"'We are in what I think of as the vampire phase of the bull market,' says GMO co-founder Jeremy Gran","content":"<html><head></head><body><p>&#39;We are in what I think of as the vampire phase of the bull market,&#39; says GMO co-founder Jeremy Grantham</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7628bfef7b4955fa6be7198928ede3ba\" tg-width=\"1320\" tg-height=\"742\" width=\"100%\" height=\"auto\"/><span>GMO co-founder Jeremy Grantham says the Fed doesn’t seem to “get” asset bubbles.</span></p><p>The U.S. is approaching the end of a &#34;superbubble&#34; spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID pandemic, potentially leading to the largest markdown of wealth in its history once pessimism returns to rule markets, according to legendary investor Jeremy Grantham.</p><p>&#34;For the first time in the U.S. we have simultaneous bubbles across all major asset classes,&#34; said Grantham, co-founder of investment firm GMO, in a paper Thursday. He estimated wealth losses could total $35 trillion in the U.S. should valuations across major asset classes return two-thirds of the way to historical norms.</p><p>&#34;One of the main reasons I deplore superbubbles -- and resent the Fed and other financial authorities for allowing and facilitating them -- is the underrecognized damage that bubbles cause as they deflate,&#34; said Grantham.</p><p>The Federal Reserve doesn&#39;t seem to &#34;get&#34; asset bubbles, said Grantham, pointing to the &#34;ineffably massive stimulus for COVID&#34; (some of which he said was necessary) that followed stimulus to recover from the bust of the 2006 housing bubble. &#34;The only &#39;lesson&#39; that the economic establishment appears to have learned from the rubble of 2009 is that we didn&#39;t address it with enough stimulus,&#34; he said.</p><p>Equity bubbles tend to begin to deflate from the riskiest parts of the market first -- as the one that Grantham is warning about has been doing since February 2021, according to his paper. &#34;So, good luck!&#34; he wrote. &#34;We&#39;ll all need it.&#34;</p><p>While the S&amp;P 500 index  and Dow Jones Industrial Average  each notched all-time closing peaks in early January, they&#39;ve since fallen into a slump, along with the Nasdaq Composite Index , as investors anticipate the Fed will end quantitative easing and begin raising interest rates to combat high inflation later this year.</p><p>The technology-laden Nasdaq has seen the biggest decline among the three major stock benchmarks in 2022, tumbling into correction territory after reaching a record high in November, according to FactSet data.</p><p>&#34;We are in what I think of as the vampire phase of the bull market, where you throw everything you have at it,&#34; Grantham wrote. &#34;You stab it with COVID, you shoot it with the end of QE and the promise of higher rates, and you poison it with unexpected inflation -- which has always killed P/E ratios before, but quite uniquely, not this time yet -- and still the creature flies.&#34;</p><p>That is &#34;until, just as you&#39;re beginning to think the thing is completely immortal, it finally, and perhaps a little anticlimactically, keels over and dies,&#34; said Grantham. &#34;The sooner the better for everyone.&#34;</p><p>The Nasdaq has dropped 9.5% this month, through Thursday, exceeding the S&amp;P 500&#39;s nearly 6% slide and a 4.5% loss for the Dow, according to FactSet data.</p><p>As for GMO&#39;s investment recommendations, Grantham summarized them as avoiding U.S. equities while emphasizing value stocks in emerging markets and cheaper developed countries, &#34;most notably Japan.&#34; On a personal note, he said, &#34;I also like some cash for flexibility, some resources for inflation protection, as well as a little gold  and silver.&#34;</p><p>Beyond the recent record highs of the U.S. stock market and &#34;crazy&#34; investor behavior that has accompanied its rise, Grantham warned that &#34;we are indeed participating in the broadest and most extreme global real-estate bubble in history.&#34;  He said that houses in the U.S. are at &#34;the highest multiple of family income ever, after a record 20% gain last year.&#34;</p><p>Plus, said Grantham, &#34;we also have the highest-priced bond markets in the U.S. and most other countries around the world, and the lowest rates, of course, that go with them, that human history has ever seen.&#34;</p><p>And then there&#39;s the &#34;incipient bubble in commodities,&#34; he added. Oil  and most of the &#34;important metals&#34; are among commodities priced broadly &#34;above trend,&#34; while the &#34;U.N.&#39;s index of global food prices is around its all-time high,&#34; according to his paper.</p><p>&#34;The combination, which we saw in 2008, of still-rising commodity prices with a deflating asset price bubble is the ultimate pincer attack on the economy and is all but guaranteed to lead to major economic pain,&#34; he wrote.</p><p>Grantham also considered how wealth compounds more slowly at &#34;bubble pricing,&#34; while making it hard for people to afford their first house or to build an investment portfolio.</p><p>&#34;There is the terrible increase in inequality that goes with higher prices of assets, which many simply do not own, and  &#39;many&#39; applies these days up to the median family or beyond,&#34; he wrote. &#34;They have been let down, know it, and increasingly (and understandably) resent it. And it absolutely hurts our economy.&#34;</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Good luck! We'll all need it': U.S. market approaches end of 'superbubble,' says Jeremy Grantham</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'Good luck! We'll all need it': U.S. market approaches end of 'superbubble,' says Jeremy Grantham\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-21 19:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/good-luck-well-all-need-it-u-s-market-approaches-end-of-superbubble-says-jeremy-grantham-11642723516?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'We are in what I think of as the vampire phase of the bull market,' says GMO co-founder Jeremy GranthamGMO co-founder Jeremy Grantham says the Fed doesn’t seem to “get” asset bubbles.The U.S. is ...</p>\n\n<a href=\"https://www.marketwatch.com/story/good-luck-well-all-need-it-u-s-market-approaches-end-of-superbubble-says-jeremy-grantham-11642723516?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/good-luck-well-all-need-it-u-s-market-approaches-end-of-superbubble-says-jeremy-grantham-11642723516?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2205168440","content_text":"'We are in what I think of as the vampire phase of the bull market,' says GMO co-founder Jeremy GranthamGMO co-founder Jeremy Grantham says the Fed doesn’t seem to “get” asset bubbles.The U.S. is approaching the end of a \"superbubble\" spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID pandemic, potentially leading to the largest markdown of wealth in its history once pessimism returns to rule markets, according to legendary investor Jeremy Grantham.\"For the first time in the U.S. we have simultaneous bubbles across all major asset classes,\" said Grantham, co-founder of investment firm GMO, in a paper Thursday. He estimated wealth losses could total $35 trillion in the U.S. should valuations across major asset classes return two-thirds of the way to historical norms.\"One of the main reasons I deplore superbubbles -- and resent the Fed and other financial authorities for allowing and facilitating them -- is the underrecognized damage that bubbles cause as they deflate,\" said Grantham.The Federal Reserve doesn't seem to \"get\" asset bubbles, said Grantham, pointing to the \"ineffably massive stimulus for COVID\" (some of which he said was necessary) that followed stimulus to recover from the bust of the 2006 housing bubble. \"The only 'lesson' that the economic establishment appears to have learned from the rubble of 2009 is that we didn't address it with enough stimulus,\" he said.Equity bubbles tend to begin to deflate from the riskiest parts of the market first -- as the one that Grantham is warning about has been doing since February 2021, according to his paper. \"So, good luck!\" he wrote. \"We'll all need it.\"While the S&P 500 index  and Dow Jones Industrial Average  each notched all-time closing peaks in early January, they've since fallen into a slump, along with the Nasdaq Composite Index , as investors anticipate the Fed will end quantitative easing and begin raising interest rates to combat high inflation later this year.The technology-laden Nasdaq has seen the biggest decline among the three major stock benchmarks in 2022, tumbling into correction territory after reaching a record high in November, according to FactSet data.\"We are in what I think of as the vampire phase of the bull market, where you throw everything you have at it,\" Grantham wrote. \"You stab it with COVID, you shoot it with the end of QE and the promise of higher rates, and you poison it with unexpected inflation -- which has always killed P/E ratios before, but quite uniquely, not this time yet -- and still the creature flies.\"That is \"until, just as you're beginning to think the thing is completely immortal, it finally, and perhaps a little anticlimactically, keels over and dies,\" said Grantham. \"The sooner the better for everyone.\"The Nasdaq has dropped 9.5% this month, through Thursday, exceeding the S&P 500's nearly 6% slide and a 4.5% loss for the Dow, according to FactSet data.As for GMO's investment recommendations, Grantham summarized them as avoiding U.S. equities while emphasizing value stocks in emerging markets and cheaper developed countries, \"most notably Japan.\" On a personal note, he said, \"I also like some cash for flexibility, some resources for inflation protection, as well as a little gold  and silver.\"Beyond the recent record highs of the U.S. stock market and \"crazy\" investor behavior that has accompanied its rise, Grantham warned that \"we are indeed participating in the broadest and most extreme global real-estate bubble in history.\"  He said that houses in the U.S. are at \"the highest multiple of family income ever, after a record 20% gain last year.\"Plus, said Grantham, \"we also have the highest-priced bond markets in the U.S. and most other countries around the world, and the lowest rates, of course, that go with them, that human history has ever seen.\"And then there's the \"incipient bubble in commodities,\" he added. Oil  and most of the \"important metals\" are among commodities priced broadly \"above trend,\" while the \"U.N.'s index of global food prices is around its all-time high,\" according to his paper.\"The combination, which we saw in 2008, of still-rising commodity prices with a deflating asset price bubble is the ultimate pincer attack on the economy and is all but guaranteed to lead to major economic pain,\" he wrote.Grantham also considered how wealth compounds more slowly at \"bubble pricing,\" while making it hard for people to afford their first house or to build an investment portfolio.\"There is the terrible increase in inequality that goes with higher prices of assets, which many simply do not own, and  'many' applies these days up to the median family or beyond,\" he wrote. \"They have been let down, know it, and increasingly (and understandably) resent it. And it absolutely hurts our economy.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857264271,"gmtCreate":1635531265963,"gmtModify":1635531266131,"author":{"id":"3572322201202012","authorId":"3572322201202012","name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Try it!","listText":"Try it!","text":"Try it!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857264271","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/44a4f89726b3f6319d06a0075bf9ff76","crmLevel":1,"crmLevelSwitch":0},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}