lihar的个人主页 - 老虎社区

lihar

lihar

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2021-10-23

Unlimited!

Tesla Stock Closed Above $900 for First Time. What Could Come Next.

2021-06-16

Why so many drop?

2021-06-15

Nio looks good

2021-06-10

All about inflation

2021-06-08

米米股被炒的飞天n，你有参与吗？

2021-06-02

炒微型股[惊讶]

2021-05-31

Ev in focus again

2021-05-30

More calls for Tesla and Nio, does it look good to buy? [疑问]

2021-05-29

电车还可以买吗？

2021-05-27

可以买什么呀

2021-05-24

全球的热钱又投入股市里

2021-05-23

有什么夏天股

2021-05-22

Going to be a good start

2021-05-19

完全不明朗

2021-05-16

Cryptocurrency up again

2021-05-13

What will the stock market heading?

2021-05-05

Rebound not to worry

2021-05-02

What will happen in May market [疑问]

2021-04-30

换月份的最后一个交易日[财迷]

2021-04-27

没有什么能推进的原因了

去老虎APP查看更多动态

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08:21","market":"us","language":"en","title":"Tesla Stock Closed Above $900 for First Time. 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The&nbsp;S&amp;P 500&nbsp;dropped about 0.1%, while the&nbsp;Dow Jones Industrial Average&nbsp;added about 0.2%.</p>\n<p>Shares of the electric-vehicle giant have been boosted by strong deliveries and earnings. Shares also got a boost Friday from a credit upgrade at S&amp;P. Tesla debt is now BB+ rated, one notch below investment grade.</p>\n<p>Tesla stock’s new 52-week intraday high is $910 on the nose. The old high-water mark of $900.40 was set on Jan. 25, according to Dow Jones Market Data. On Thursday, Tesla closed at a record for the first time since Jan. 26.</p>\n<p>Shares are up about 40% over the past three months, pushing the market cap to roughly $910 billion. (Tesla has about 1 billion shares outstanding, making the math easy.)</p>\n<p>Bulls, naturally, see more gains ahead. Wedbush analyst Dan Ives raised his bull-case Tesla stock price target to $1,500 from $1,300 after the company reported better-than-expected earnings on Wednesday.</p>\n<p>“Tesla is rising because earnings revisions are soaring,” points out Gary Black, managing partner of the Future Fund Active exchange-traded fund. Analyst estimates for Tesla’s 2022 earnings have risen to about $8 a share from $6 over the past few weeks. “Rising estimates drove Tesla to the moon in 2020. They will drive Tesla to $1,000-plus in 2022,” Black says.</p>\n<p>Ives rates Tesla stock Buy, and Tesla is the largest position in Black’s fund.</p>\n<p>Yes, there are still Tesla bears out there who believe the stock is overvalued. The bottom third of analyst price targets averages about $425, less than half of Friday’s close.</p>\n<p>Bears expect the sky-high valuation to give investors pause eventually. Stocks don’t usually fall just because investors, collectively, wake up one morning and feel differently about valuation. Something has to happen. The overall market could tumble, or the business could trip up. Analysts expect Tesla deliveries to grow to 1.3 million units in 2022 from about 890,000 units in 2021. Any hiccup to growth would be a negative catalyst for shares.</p>\n<p>Whether the stock rises or falls in the short run is anyone’s guess. For now, though, the momentum belongs to Tesla bulls.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Closed Above $900 for First Time. 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What Could Come Next.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-23 08:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-stock-record-high-51634913773?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla stock hit a new all-time high in Friday trading, and closed at a record. The stock’s recent run has been incredible. How high can it go?\nTesla (ticker: TSLA) stock closed at $909.68, up about ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-record-high-51634913773?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-record-high-51634913773?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166213725","content_text":"Tesla stock hit a new all-time high in Friday trading, and closed at a record. The stock’s recent run has been incredible. How high can it go?\nTesla (ticker: TSLA) stock closed at $909.68, up about 1.8%. The S&P 500 dropped about 0.1%, while the Dow Jones Industrial Average added about 0.2%.\nShares of the electric-vehicle giant have been boosted by strong deliveries and earnings. Shares also got a boost Friday from a credit upgrade at S&P. Tesla debt is now BB+ rated, one notch below investment grade.\nTesla stock’s new 52-week intraday high is $910 on the nose. The old high-water mark of $900.40 was set on Jan. 25, according to Dow Jones Market Data. On Thursday, Tesla closed at a record for the first time since Jan. 26.\nShares are up about 40% over the past three months, pushing the market cap to roughly $910 billion. (Tesla has about 1 billion shares outstanding, making the math easy.)\nBulls, naturally, see more gains ahead. Wedbush analyst Dan Ives raised his bull-case Tesla stock price target to $1,500 from $1,300 after the company reported better-than-expected earnings on Wednesday.\n“Tesla is rising because earnings revisions are soaring,” points out Gary Black, managing partner of the Future Fund Active exchange-traded fund. Analyst estimates for Tesla’s 2022 earnings have risen to about $8 a share from $6 over the past few weeks. “Rising estimates drove Tesla to the moon in 2020. They will drive Tesla to $1,000-plus in 2022,” Black says.\nIves rates Tesla stock Buy, and Tesla is the largest position in Black’s fund.\nYes, there are still Tesla bears out there who believe the stock is overvalued. The bottom third of analyst price targets averages about $425, less than half of Friday’s close.\nBears expect the sky-high valuation to give investors pause eventually. Stocks don’t usually fall just because investors, collectively, wake up one morning and feel differently about valuation. Something has to happen. The overall market could tumble, or the business could trip up. Analysts expect Tesla deliveries to grow to 1.3 million units in 2022 from about 890,000 units in 2021. Any hiccup to growth would be a negative catalyst for shares.\nWhether the stock rises or falls in the short run is anyone’s guess. For now, though, the momentum belongs to Tesla bulls.","news_type":1},"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":169568913,"gmtCreate":1623843620032,"gmtModify":1634027249709,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559467843060044","authorIdStr":"3559467843060044"},"themes":[],"htmlText":"Why so many drop?&nbsp;","listText":"Why so many drop?&nbsp;","text":"Why so many drop?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169568913","isVote":1,"tweetType":1,"viewCount":474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187549768,"gmtCreate":1623760229254,"gmtModify":1634028847099,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559467843060044","authorIdStr":"3559467843060044"},"themes":[],"htmlText":"Nio looks good&nbsp;","listText":"Nio looks good&nbsp;","text":"Nio looks good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/187549768","isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183635242,"gmtCreate":1623327520586,"gmtModify":1634034559756,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559467843060044","authorIdStr":"3559467843060044"},"themes":[],"htmlText":"All about inflation&nbsp;","listText":"All about inflation&nbsp;","text":"All about 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20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</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>How Likely Is a Stock Market Crash?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137491178,"gmtCreate":1622373320594,"gmtModify":1634101966400,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559467843060044","idStr":"3559467843060044"},"themes":[],"htmlText":"More calls for Tesla and Nio, does it look good to buy?&nbsp;[疑问]&nbsp;","listText":"More calls for Tesla and Nio, does it look good to buy?&nbsp;[疑问]&nbsp;","text":"More calls for Tesla and Nio, does it look good to buy? [疑问]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137491178","isVote":1,"tweetType":1,"viewCount":1003,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":326780547,"gmtCreate":1615712431689,"gmtModify":1703492326942,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559467843060044","idStr":"3559467843060044"},"themes":[],"htmlText":"No","listText":"No","text":"No","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/326780547","repostId":"2118630979","repostType":4,"repost":{"id":"2118630979","kind":"news","pubTimestamp":1615562135,"share":"https://www.laohu8.com/m/news/2118630979?lang=&edition=full","pubTime":"2021-03-12 23:15","market":"us","language":"en","title":"Could Roblox Make You Rich in 2021?","url":"https://stock-news.laohu8.com/highlight/detail?id=2118630979","media":"Motley Fool ","summary":"The creative gaming platform that is wildly popular among kids has finally hit the public market.","content":"<p>Booming gaming platform for kids <b>Roblox </b>(NYSE:RBLX) hit the public markets this week with a direct listing after dropping its initial interest in conducting a traditional initial public offering (IPO). The company had filed its S-1 Registration Statement back in November, and it showed phenomenal growth driven in part by the COVID-19 pandemic, which forced many people to stay home and bolstered demand for home entertainment options.</p>\n<p>Roblox is comparable to Minecraft, which <b>Microsoft </b>acquired in 2014, in that it is a broad gaming platform that fosters creativity and caters overwhelmingly to young children. After the exchange set a reference price of $45, which is specific to direct listings and mostly serves as historical context to investors as opposed to the offering price in an IPO, the stock promptly sprinted out of the gate. Could Roblox be a top performer in 2021?</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F617752%2Flineup_all.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"393\"><span>Image source: Roblox.</span></p>\n<h2>Surging engagement during COVID-19</h2>\n<p>Roblox's prospectus now includes financial information for the fourth quarter and full-year 2020. As <a href=\"https://laohu8.com/S/AONE\">one</a> might expect, the business continued to enjoy strong growth to close out the year. There are three core operating metrics for investors to watch: daily active users (DAUs), hours engaged, and average bookings per DAU (ABPDAU).</p>\n<table>\n <thead>\n  <tr>\n   <th><p>Metric</p></th>\n   <th><p>2018</p></th>\n   <th><p>2019</p></th>\n   <th><p>2020</p></th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td width=\"156\"><p>DAUs</p></td>\n   <td width=\"156\"><p>12 million</p></td>\n   <td width=\"156\"><p>17.62 million</p></td>\n   <td width=\"156\"><p>32.59 million</p></td>\n  </tr>\n  <tr>\n   <td width=\"156\"><p>Hours engaged</p></td>\n   <td width=\"156\"><p>9.43 billion</p></td>\n   <td width=\"156\"><p>13.65 billion</p></td>\n   <td width=\"156\"><p>30.6 billion</p></td>\n  </tr>\n  <tr>\n   <td width=\"156\"><p>ABPDAU</p></td>\n   <td width=\"156\"><p>$41.53</p></td>\n   <td width=\"156\"><p>$39.40</p></td>\n   <td width=\"156\"><p>$57.77</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Data source: Prospectus.</p>\n<p>Hours engaged dipped slightly in the fourth quarter on a sequential basis, from 8.7 billion to 8.4 billion, but ABPDAU ticked higher to a record $17.30. Roblox notes that monetization tends to be very seasonal, with more users typically buying digital currency (Robux) and virtual goods over the holiday season.</p>\n<p>In terms of financial results, revenue soared by 82% last year to $923.9 million, while bookings surged 171% to $1.9 billion in 2020. However, Roblox's operating loss roughly doubled to $1.2 billion. The company is investing heavily in research and development as it hires employees and develops new features and functionalities for the platform to drive future growth. Stock-based compensation has also skyrocketed due to aggressive hiring activity -- Roblox hired over 360 full-time employees last year to finish 2020 with 960, with nearly 80% of all workers being engineers and product developers.</p>\n<p>Additionally, Roblox received another bullish vote of confidence from ARK Invest, led by widely followed institutional investor Cathie Wood. ARK has a unique practice of sending out daily emails that disclose what its actively managed ETFs are trading. In this case, <b>ARK Next Generation Internet </b>(NYSEMKT:ARKW) scooped up approximately 520,000 shares on the first day of trading. The notifications do not detail what prices were paid, but the position represented 0.47% of the portfolio.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F617752%2Fwild_west_1920x1080.png&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"393\"><span>Image source: Roblox.</span></p>\n<h2>How will Roblox fare in a post-pandemic world?</h2>\n<p>Like other companies that became inadvertent beneficiaries of the pandemic, the lingering question that Roblox faces is what happens to engagement as the world slowly returns to normal. Vaccine distribution is ramping up faster than expected and more schools are transitioning back to full-time, in-person learning (54% of DAUs are under the age of 13).</p>\n<p>Roblox does not believe the heightened levels will persist, warning: \"We do not expect these activity levels to be sustained, and in future periods we expect growth rates for our revenue to decline, and we may not experience any growth in bookings or our user base during periods where we are comparing against COVID-19 impacted periods.\"</p>\n<p>The company adds: \"Further, as a result of global economic conditions, users may reduce their discretionary spending on Robux, may not renew their subscriptions or may otherwise reduce their usage of our platform, which would adversely impact our revenue and financial condition.\"</p>\n<p>Roblox is already commanding a market cap of nearly $40 billion, which translates into a lofty price-to-sales ratio of over 40. Investors are pricing in considerable growth going forward, and the company has the potential to keep delivering upbeat results even after market conditions normalize, as it has established its brand and platform as a top destination for young gamers.</p>\n<p>Still, the valuation seems a bit excessive considering the post-pandemic uncertainties, and it may take time for Roblox to grow into its market cap. I'll be sitting this <a href=\"https://laohu8.com/S/AONE.U\">one</a> out.</p>","source":"fool_stock","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>Could Roblox Make You Rich in 2021?</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\">\nCould Roblox Make You Rich in 2021?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-12 23:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/12/could-roblox-make-you-rich-in-2021/><strong>Motley Fool </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Booming gaming platform for kids Roblox (NYSE:RBLX) hit the public markets this week with a direct listing after dropping its initial interest in conducting a traditional initial public offering (IPO)...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/12/could-roblox-make-you-rich-in-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RBLX":"Roblox Corporation"},"source_url":"https://www.fool.com/investing/2021/03/12/could-roblox-make-you-rich-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2118630979","content_text":"Booming gaming platform for kids Roblox (NYSE:RBLX) hit the public markets this week with a direct listing after dropping its initial interest in conducting a traditional initial public offering (IPO). The company had filed its S-1 Registration Statement back in November, and it showed phenomenal growth driven in part by the COVID-19 pandemic, which forced many people to stay home and bolstered demand for home entertainment options.\nRoblox is comparable to Minecraft, which Microsoft acquired in 2014, in that it is a broad gaming platform that fosters creativity and caters overwhelmingly to young children. After the exchange set a reference price of $45, which is specific to direct listings and mostly serves as historical context to investors as opposed to the offering price in an IPO, the stock promptly sprinted out of the gate. Could Roblox be a top performer in 2021?\nImage source: Roblox.\nSurging engagement during COVID-19\nRoblox's prospectus now includes financial information for the fourth quarter and full-year 2020. As one might expect, the business continued to enjoy strong growth to close out the year. There are three core operating metrics for investors to watch: daily active users (DAUs), hours engaged, and average bookings per DAU (ABPDAU).\n\n\n\nMetric\n2018\n2019\n2020\n\n\n\n\nDAUs\n12 million\n17.62 million\n32.59 million\n\n\nHours engaged\n9.43 billion\n13.65 billion\n30.6 billion\n\n\nABPDAU\n$41.53\n$39.40\n$57.77\n\n\n\nData source: Prospectus.\nHours engaged dipped slightly in the fourth quarter on a sequential basis, from 8.7 billion to 8.4 billion, but ABPDAU ticked higher to a record $17.30. Roblox notes that monetization tends to be very seasonal, with more users typically buying digital currency (Robux) and virtual goods over the holiday season.\nIn terms of financial results, revenue soared by 82% last year to $923.9 million, while bookings surged 171% to $1.9 billion in 2020. However, Roblox's operating loss roughly doubled to $1.2 billion. The company is investing heavily in research and development as it hires employees and develops new features and functionalities for the platform to drive future growth. Stock-based compensation has also skyrocketed due to aggressive hiring activity -- Roblox hired over 360 full-time employees last year to finish 2020 with 960, with nearly 80% of all workers being engineers and product developers.\nAdditionally, Roblox received another bullish vote of confidence from ARK Invest, led by widely followed institutional investor Cathie Wood. ARK has a unique practice of sending out daily emails that disclose what its actively managed ETFs are trading. In this case, ARK Next Generation Internet (NYSEMKT:ARKW) scooped up approximately 520,000 shares on the first day of trading. The notifications do not detail what prices were paid, but the position represented 0.47% of the portfolio.\nImage source: Roblox.\nHow will Roblox fare in a post-pandemic world?\nLike other companies that became inadvertent beneficiaries of the pandemic, the lingering question that Roblox faces is what happens to engagement as the world slowly returns to normal. Vaccine distribution is ramping up faster than expected and more schools are transitioning back to full-time, in-person learning (54% of DAUs are under the age of 13).\nRoblox does not believe the heightened levels will persist, warning: \"We do not expect these activity levels to be sustained, and in future periods we expect growth rates for our revenue to decline, and we may not experience any growth in bookings or our user base during periods where we are comparing against COVID-19 impacted periods.\"\nThe company adds: \"Further, as a result of global economic conditions, users may reduce their discretionary spending on Robux, may not renew their subscriptions or may otherwise reduce their usage of our platform, which would adversely impact our revenue and financial condition.\"\nRoblox is already commanding a market cap of nearly $40 billion, which translates into a lofty price-to-sales ratio of over 40. Investors are pricing in considerable growth going forward, and the company has the potential to keep delivering upbeat results even after market conditions normalize, as it has established its brand and platform as a top destination for young gamers.\nStill, the valuation seems a bit excessive considering the post-pandemic uncertainties, and it may take time for Roblox to grow into its market cap. I'll be sitting this one out.","news_type":1},"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169568913,"gmtCreate":1623843620032,"gmtModify":1634027249709,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559467843060044","idStr":"3559467843060044"},"themes":[],"htmlText":"Why so many drop?&nbsp;","listText":"Why so many drop?&nbsp;","text":"Why so many drop?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169568913","isVote":1,"tweetType":1,"viewCount":474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327337875,"gmtCreate":1616058149297,"gmtModify":1703496998789,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559467843060044","idStr":"3559467843060044"},"themes":[],"htmlText":"Nice&nbsp;[爱你]&nbsp;","listText":"Nice&nbsp;[爱你]&nbsp;","text":"Nice [爱你]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327337875","repostId":"1102384412","repostType":4,"repost":{"id":"1102384412","kind":"news","pubTimestamp":1616057894,"share":"https://www.laohu8.com/m/news/1102384412?lang=&edition=full","pubTime":"2021-03-18 16:58","market":"sg","language":"en","title":"ByteDance on hiring spree in Singapore, says FT","url":"https://stock-news.laohu8.com/highlight/detail?id=1102384412","media":"Businesstimes","summary":"TIKTOK owner ByteDance has embarked on a hiring spree in Singapore, posting 338 jobs in the city sta","content":"<div>\n<p>TIKTOK owner ByteDance has embarked on a hiring spree in Singapore, posting 338 jobs in the city state in the past six months, Financial Times (FT) reported on Thursday.\nThe Beijing-based company is ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/technology/bytedance-on-hiring-spree-in-singapore-says-ft\">Web Link</a>\n\n</div>\n","source":"lsy1607307803821","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>ByteDance on hiring spree in Singapore, says FT</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\">\nByteDance on hiring spree in Singapore, says FT\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-18 16:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/technology/bytedance-on-hiring-spree-in-singapore-says-ft><strong>Businesstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TIKTOK owner ByteDance has embarked on a hiring spree in Singapore, posting 338 jobs in the city state in the past six months, Financial Times (FT) reported on Thursday.\nThe Beijing-based company is ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/technology/bytedance-on-hiring-spree-in-singapore-says-ft\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.businesstimes.com.sg/technology/bytedance-on-hiring-spree-in-singapore-says-ft","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102384412","content_text":"TIKTOK owner ByteDance has embarked on a hiring spree in Singapore, posting 338 jobs in the city state in the past six months, Financial Times (FT) reported on Thursday.\nThe Beijing-based company is hiring hundreds of engineers and senior management positions in Singapore for TikTok, its enterprise software business Lark and other products.\nByteDance moved into bigger premises in Singapore last year, taking up three floors at One Raffles Quay.\nThe firm has not confirmed which international office would be its global hub outside China, but a lawyer who helped advise ByteDance on its new Singapore office space said it \"had all the hallmarks of a global hub\", said the report. He added: \"ByteDance seems to be spending more on this office than any other outside of China.\"\nThe company's expansion into Singapore comes amid setbacks in India, the US and Britain, where it has been blocked or accused of breaching privacy regulations.\n\"I think they are hedging their bets, given the rapidly evolving regulatory environment,\" said a Singapore-based consultant.\nThe Singapore hiring spree will also support ByteDance's push into South-east Asia, the report said.\nThe company has created an education portal to test out a seller marketplace in Indonesia, the region's biggest e-commerce market.\nWithin the South-east Asia market, Singapore is seen as \"neutral\" ground that is viewed more favourably by regulators, said Jayanth Kolla, technology analyst at Bengaluru-based consultancy Convergence Catalyst.\n\"Singapore is increasingly becoming, for all practical purposes, the official South Asia and South-east Asia hub,\" he added. \"The government has been accommodating and is jumping on the opportunity.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":329770662,"gmtCreate":1615283884056,"gmtModify":1703486735457,"author":{"id":"3559467843060044","authorId":"3559467843060044","name":"lihar","avatar":"https://static.tigerbbs.com/57c5c35020302640dd35270482bcc3f7","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3559467843060044","idStr":"3559467843060044"},"themes":[],"htmlText":"Inspiring!&nbsp;","listText":"Inspiring!&nbsp;","text":"Inspiring!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/329770662","repostId":"1130239756","repostType":4,"repost":{"id":"1130239756","kind":"news","pubTimestamp":1615282325,"share":"https://www.laohu8.com/m/news/1130239756?lang=&edition=full","pubTime":"2021-03-09 17:32","market":"us","language":"en","title":"How To Invest In A Down Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1130239756","media":"seekingalpha","summary":"Summary\n\nThe Nasdaq is close to correction territory, about 10% down.\nMany high-quality businesses a","content":"<p>Summary</p>\n<ul>\n <li>The Nasdaq is close to correction territory, about 10% down.</li>\n <li>Many high-quality businesses are seeing their stock down 20% to 50%.</li>\n <li>Market sell-offs are generally not a good time to sell or rebalance.</li>\n <li>Recognize you are likely to make emotional decisions right now.</li>\n <li>Let's review the kind of investments you should be focusing on.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/58c9c01723c6f697ff4e40e0a1709af3\" tg-width=\"563\" tg-height=\"317\"><span>Image Source: CNN Money</span></p>\n<p>This week was the biggest market sell-off since, wait for it... September 2020.</p>\n<p>I know, six months ago is not really a big deal. In fact, market corrections (a market sell-off of 10% or more) happen more than once a year on average. And generally speaking, when people refer to \"the market,\" they are talking about the S&amp;P 500 (SPY), not the Nasdaq (QQQ). From this perspective, the market has barely moved. The recent sell-off is predominantly affecting the Nasdaq with a rotation out of high-growth technology companies and into businesses that have taken a beating throughout the pandemic (live events, brick-and-mortar retailers, hotels or travel to name a few).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8a604eeb1e0e9ca33327e8d9eaa3c8d4\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>Many analysts and so-called market pundits would want you to believe it's the end of the world. Looking at a few headlines over the years, my own anecdotal evidence here on Seeking Alpha is that some authors are simply perma-bears who will tell you that it's time to sell your stocks and hunker down every month of the year. When the market is hitting a new all time high, they say that valuations aren't sustainable and we are in a bubble. But when the market falls by 30% like it did in March 2020, they say that stocks have a lot more room to fall and you should still stay away.</p>\n<p>For the pessimists, the right time to buy is almost never. Too bad for them, because they are missing out on one the most fantastic ways to create wealth over a lifetime. I'm talking about long-term investing in equities.</p>\n<p>Going back to the sell-off at play today, many high-growth stocks are down 20% to 50% from their previous high. But it's essential to note that many of them are merely trading back to where they were a few weeks ago. Just look at Tesla (TSLA). The last time the stock was trading just below $600 was just three months ago, at the beginning of December.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/55084ac8a9724b226ff2ca2aac3dbcc5\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>I've covered before the&nbsp;five ways to prepare&nbsp;for a stock market crash:</p>\n<ol>\n <li>Ask yourself how much drawdown you can cope with.</li>\n <li>Make sure you have the cash you need.</li>\n <li>Build a portfolio that suits your risk profile.</li>\n <li>Build a wish list of stocks to buy on sale.</li>\n <li>Write down your strategy.</li>\n</ol>\n<p>If you follow this approach when the market is chugging along, going through the volatility of the past few days becomes incredibly easier. I would even argue that it becomes an enjoyable process because you get to execute a well thought-out plan and benefit from your preparedness.</p>\n<p>Most investors are already familiar with what I would call \"Investing 101.\" Among the first lessons you learn when starting investing, you often hear what is critical to do when the market crashes:</p>\n<ul>\n <li>Don't panic.</li>\n <li>Stay the course.</li>\n <li>Focus on the long term.</li>\n</ul>\n<p>The problem with these lessons is that they can be a bit superficial. In theory, many investors understand they should not sell their holdings in a stock market crash and just let it pass. But in practice, there can be a strong temptation to tinker with a portfolio, re-balance aggressively at the worst possible time, or using the majority of your cash reserve too fast and miss great opportunities to invest if the market continues to fall.</p>\n<p>So I want to go a bit deeper today, offer some perspective and share investing strategies you can choose from.</p>\n<p><b>Understanding Bull and Bear Markets</b></p>\n<p>The market has historically gone up over time, with an&nbsp;average&nbsp;10% annual return over the last 92 years for the SP&amp;P 500 benchmark, and 74% of the years being positive.</p>\n<p>The graph below, using Morningstar data, shows bull and bear markets since the late 20’s all the way to 2018.</p>\n<ul>\n <li>A Bull Market is measured from the lowest close reached after the market has fallen 20% or more to the next high.</li>\n <li>A Bear Market is defined as the index closing at least 20% down from its previous high close. Its duration is the period from the previous high to the lowest close reached after it has fallen 20% or more.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c64b042226027ff87478f7e68a969942\" tg-width=\"800\" tg-height=\"618\"><span>Source: First Trust via Morningstar</span></p>\n<p>There are two conclusions that should remain with you:</p>\n<ol>\n <li>The stock market goes up much more than it goes down (several bull markets have lasted more than 10 years, at more than 17% average annualized return)</li>\n <li>When it goes down, it goes down fast and sharply (bear markets have lasted less than 3 years, from -22% to -83%)</li>\n</ol>\n<p>A bull market might seem like a steady path up and to the right, but volatility is present in all market conditions. Red days and moments of doubt are very common, even through bull markets. From 2009 to 2020, a period of fantastic market returns, you had to go through Brexit, trade wars and general elections, all prompting pundits of all kinds to predict an imminent market collapse.</p>\n<p>Trying to time the market is a waste of time: Nobody can predict it, and if you are out of the market, you are missing on the gains that the market is willing to give you over the years.</p>\n<p>As pointed out before by&nbsp;Morgan Housel, partner at The Collaborative Fund, stock market crashes happen all the time. Recognizing how often market crashes happen can give you a better idea of what you are getting into and the risks you are taking when investing in equities.</p>\n<p>Here is the historical frequency of pullbacks identified since 1928:</p>\n<p><img src=\"https://static.tigerbbs.com/4005931a8f624cb1307ff80035e6023f\" tg-width=\"816\" tg-height=\"440\"></p>\n<p>Based on historical data, frequent market sell-offs are the price of admission to the stock market. They happen often, and in an unpredictable way. But the market eventually resumes its path up and to the right, inexorably following GDP growth. If you decide to be out of the market, you are far more likely to be wrong than right, and even more so over long periods of time.</p>\n<p><b>Understanding Risk</b></p>\n<p>When you invest, you are taking not only a&nbsp;market risk&nbsp;but also several specific risks.</p>\n<ul>\n <li><b>Market Risk</b>: An individual stock is subject at least partially to the same volatility as the market. Think about boats moving up and down with the tide.</li>\n <li><b>Sector Risk:</b>If the entire tech sector takes a beating, like in the early 2000s, even the stocks of solid companies like Microsoft (MSFT) can go down. Companies from the same sector tend to move in tandem, as illustrated by the recent pull-back.</li>\n <li><b>Company Risk:</b>The most obvious one. If a company’s business slows down or fails to deliver on expectation, or even files for bankruptcy.</li>\n</ul>\n<p>When you decide to invest in equities, you already have made the decision to embrace market risk. The best you can do is to recognize it for what it is and let it work its magic both on the way up and on the way down.</p>\n<p>If you are exposed to a specific sector or category such as Enterprise Software, it should not surprise you to see excellent companies such as CrowdStrike (CRWD), Twilio (TWLO) or Zoom Video (ZM) fall together in the past few days. Your willingness to see a large part of your portfolio underperform for an extended time should educate the level of concentration you are willing to take in a given company or a given sector.</p>\n<p><b>Some perspective</b></p>\n<p>The most powerful way to keep emotions in check in a market sell-off is to take a step back and look at the bigger picture.</p>\n<p>I want to provide readers with a look at my own portfolio drawdown. My real-money portfolio is highly volatile, mostly because it's heavy in the Technology, Communication and Discretionary sectors. I have enjoyed a significant market beating performance over the years, with my portfolio returning +395% since 2015 - even factoring the recent sell-off.</p>\n<p>During market sell-offs, my portfolio tends to take a deeper dive, which I'm perfectly fine with because volatility works both ways, and I'm willing to go through the emotional roller-coaster in order to achieve an above-average performance. This strategy is not for everyone, and it works for me only because I'm very patient and invest for the next five, 10, 15, 20 years and beyond. I identify a market sell-off as an opportunity to buy. If that's not your natural tendency, you are probably better off investing in index funds automatically and let someone re-balance it for you.</p>\n<p>My real-money portfolio has taken a big hit over the last few days. My investments in companies like Teladoc (TDOC), Fastly (FSLY) or Zillow (Z) are down more than 30% since mid-February. Huge winners of the App Economy Portfolio like Shopify (SHOP) or The Trade Desk (TTD) (both 11-baggers as of this writing) are down more than 25% from their all-time-high.</p>\n<p>But instead of focusing on the past week, or even the past month, I like to look at my portfolio performance over the years to keep things in perspective. As illustrated below, I might be down significantly over the past week, but it should only be observed in the grand scheme of things. My own strategy has enabled me to more than quadruple the S&amp;P 500 performance since 2015. How many times has my portfolio dropped 10% in a few days, only to eventually rebound to new highs? Measuring my own performance and keeping score has helped me stick to my own strategy.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e2606d396951a8c8f26f8aa6e3336faf\" tg-width=\"640\" tg-height=\"279\"><span>Source: App Economy Portfolio performance from Personal Capital</span></p>\n<p>It's also interesting to look back at the previous large market drawdowns that occurred in late 2018 or in March 2020, clearly visible on the chart. When I look back at my trades during these sell-offs, I see multi-bagger returns across the board. This illustrates why sticking to your strategy during market drawdowns can be extremely lucrative.</p>\n<p>Focus on quality businesses that rarely sell-off</p>\n<p>Warren Buffettwiselyrecommends to \"<i>Be fearful when others are greedy and greedy when others are fearful.\"</i></p>\n<p>I wrote previously aboutfear and greedand how most investors have it all wrong. Even if you are buying during a market sell-off, you might be doing it wrong.</p>\n<ul>\n <li>Are you investing in quality companies or simply chasing bargains?</li>\n <li>Are you buying something because it is \"dirt cheap\" or seizing the opportunity to accumulate quality stocks at a lower price?</li>\n</ul>\n<p>The main reason you should be looking for quality rather than sheer value in the context of a market sell-off is that you are already benefiting from a market discount. That discount is offered usually across all types of investments, making some of the best companies more affordable.</p>\n<p>Market and sector sell-offs are a unique opportunity to finally get a discount on the businesses that keep hitting new all-time-highs and running away from you. I believe that's where your focus should be.</p>\n<p>Of course, the skeptics will continue to say that the high-growth stocks remain extremely over-priced by historical standards. They predict that the next shoe is about to drop, even in the face of a market correction. This mindset has kept many investors away from FAANG stocks (Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Alphabet (GOOG)(NASDAQ:GOOGL)) in the past decade.</p>\n<p>Predicting an imminent crash? Isn't this the very symptom of fear?</p>\n<p>Building up positions in your winners is a powerful investment philosophy and one that makes even more sense in the context of a market downturn. I covered the art ofadding to your winnerspreviously when I explained why I was adding to my position in MongoDB (MDB).</p>\n<p><img src=\"https://static.tigerbbs.com/dcd2d9695344ffccd62b393469cd23ae\" tg-width=\"640\" tg-height=\"192\"></p>\n<p>These great businesses that sit at the top of your portfolio are the very same as they were before any sector rotation, and they will still be the same after the storm passes. In the short term, a stock performance can be detached from the underlying business, both in up and down markets.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dc957836284e59ccf35ea2a43fadb04b\" tg-width=\"640\" tg-height=\"360\"><span>Source: CNBC</span></p>\n<p>Cash deployment strategy</p>\n<p>Now, assuming you understand the importance of maintaining an optimistic outlook in the face of a market sell-off and are ready for some shopping to take advantage of depressed valuations, we still need to talk about cash deployment strategies.</p>\n<p>Maybe you have cash on the sidelines and you are wondering when or how to put it to use. Many investors make the mistake of going all-in at the first sight of a market pull-back of a few percentage points, only to feel buyer's remorse when the market continues to fall.</p>\n<p>I love this&nbsp;blog postfrom Morgan Housel covering his cash deployment strategy in the context of a market drawdown. He shows in this graph how much of his cash set aside for investing he would deploy in the market based on how much the market has sold off.</p>\n<p><img src=\"https://static.tigerbbs.com/3e736cca8707b27534d6b0f0714baf2c\" tg-width=\"640\" tg-height=\"195\"></p>\n<p>Since the S&amp;P 500 is generally used as a proxy for \"the market,\" we still have a long way to go before we hit even the 10% mark. I tend to look at how much my own portfolio has fallen from its previous high as an indicator of the opportunity at play. For example, the App Economy Portfolio is down about 17% from its previous high as of this writing. Using the chart above, it would indicate that now is a good time to deploy around 32% of the cash available to invest.</p>\n<p>Whichever indicator you choose (the S&amp;P, the Nasdaq, your own portfolio draw-down), this is an interesting way to look at cash deployment that can help your investing strategy and avoid running out of dry powder too fast.</p>\n<p><b>The Art of Doing Nothing</b></p>\n<p>Because emotions run high after a series of red days, the best course of action is often to sit on your hands. That's right, doing nothing at all.</p>\n<p>As a marketplace leader, I get questions every day about portfolio re-balancing, usually taking the form of a desire to chase returns. Many investors decide they want to reallocate a large part of a portfolio based on what seems right to do in the heat of the moment.</p>\n<p>The reality is that no portfolio re-balancing should happen in a hurry or be prompted by events that have nothing to do with your long-term strategy. That's why journaling and writing down your investing strategy can be so powerful. It can guide you and put you back on track when you feel compelled to break it all apart.</p>\n<p>Recognizing that there is no urgency to act is essential. As I pointed out in many articles, if your next trade cannot wait for a few days, you are likely making an emotional decision. A great investment should not depend on perfect timing or finding the exact bottom.</p>\n<p><b>The Grind</b></p>\n<p>We all want to get our accounts to new all-time highs.</p>\n<p>We do it by saving and investing.</p>\n<p>It's a given that there are setbacks to the market on the way to new highs. Whenever a new sell-off occurs, we are all back in the grind trying to get our account back to all-time highs.</p>\n<p>The truth is that everybody has to go through the grind. You should not rely on an overnight success, because there is no such thing. Even Warren Buffett's portfolio is down this week. Think about it.</p>\n<p>A sell-off is naturally shaking out the weak hands and the most emotional investors among us. Make no mistake: The grind and your capacity to go through it all is part of what makes you a great investor.</p>\n<p><b>Conclusion</b></p>\n<p>Investing in a down market is a unique opportunity to invest for the long term. The key is to give yourself the best chance to stay cool and make the best decisions:</p>\n<ul>\n <li>Understand what bull and bear markets really are.</li>\n <li>Evaluate the risks you are taking and why you are taking them.</li>\n <li>Identify and recognize your emotions and keep them in check.</li>\n <li>If you want to sell or re-balance your<i>portfolio</i>: Ask yourself if your investment thesis has really changed, or whether you're simply reacting to the news cycle.</li>\n <li>If you want to buy: Ask yourself if you are merely chasing a bargain, or if you truly want to invest in a quality company for the long run.</li>\n <li>Prioritize the businesses that rarely offer a discount.</li>\n <li>Look at the big picture: Sell-offs are part of the grind, and we'll all come out stronger on the other side.</li>\n</ul>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How To Invest In A Down Market</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\">\nHow To Invest In A Down Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-09 17:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4412294-how-to-invest-in-down-market><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe Nasdaq is close to correction territory, about 10% down.\nMany high-quality businesses are seeing their stock down 20% to 50%.\nMarket sell-offs are generally not a good time to sell or ...</p>\n\n<a href=\"https://seekingalpha.com/article/4412294-how-to-invest-in-down-market\">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://seekingalpha.com/article/4412294-how-to-invest-in-down-market","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1130239756","content_text":"Summary\n\nThe Nasdaq is close to correction territory, about 10% down.\nMany high-quality businesses are seeing their stock down 20% to 50%.\nMarket sell-offs are generally not a good time to sell or rebalance.\nRecognize you are likely to make emotional decisions right now.\nLet's review the kind of investments you should be focusing on.\n\nImage Source: CNN Money\nThis week was the biggest market sell-off since, wait for it... September 2020.\nI know, six months ago is not really a big deal. In fact, market corrections (a market sell-off of 10% or more) happen more than once a year on average. And generally speaking, when people refer to \"the market,\" they are talking about the S&P 500 (SPY), not the Nasdaq (QQQ). From this perspective, the market has barely moved. The recent sell-off is predominantly affecting the Nasdaq with a rotation out of high-growth technology companies and into businesses that have taken a beating throughout the pandemic (live events, brick-and-mortar retailers, hotels or travel to name a few).\nData by YCharts\nMany analysts and so-called market pundits would want you to believe it's the end of the world. Looking at a few headlines over the years, my own anecdotal evidence here on Seeking Alpha is that some authors are simply perma-bears who will tell you that it's time to sell your stocks and hunker down every month of the year. When the market is hitting a new all time high, they say that valuations aren't sustainable and we are in a bubble. But when the market falls by 30% like it did in March 2020, they say that stocks have a lot more room to fall and you should still stay away.\nFor the pessimists, the right time to buy is almost never. Too bad for them, because they are missing out on one the most fantastic ways to create wealth over a lifetime. I'm talking about long-term investing in equities.\nGoing back to the sell-off at play today, many high-growth stocks are down 20% to 50% from their previous high. But it's essential to note that many of them are merely trading back to where they were a few weeks ago. Just look at Tesla (TSLA). The last time the stock was trading just below $600 was just three months ago, at the beginning of December.\nData by YCharts\nI've covered before the five ways to prepare for a stock market crash:\n\nAsk yourself how much drawdown you can cope with.\nMake sure you have the cash you need.\nBuild a portfolio that suits your risk profile.\nBuild a wish list of stocks to buy on sale.\nWrite down your strategy.\n\nIf you follow this approach when the market is chugging along, going through the volatility of the past few days becomes incredibly easier. I would even argue that it becomes an enjoyable process because you get to execute a well thought-out plan and benefit from your preparedness.\nMost investors are already familiar with what I would call \"Investing 101.\" Among the first lessons you learn when starting investing, you often hear what is critical to do when the market crashes:\n\nDon't panic.\nStay the course.\nFocus on the long term.\n\nThe problem with these lessons is that they can be a bit superficial. In theory, many investors understand they should not sell their holdings in a stock market crash and just let it pass. But in practice, there can be a strong temptation to tinker with a portfolio, re-balance aggressively at the worst possible time, or using the majority of your cash reserve too fast and miss great opportunities to invest if the market continues to fall.\nSo I want to go a bit deeper today, offer some perspective and share investing strategies you can choose from.\nUnderstanding Bull and Bear Markets\nThe market has historically gone up over time, with an average 10% annual return over the last 92 years for the SP&P 500 benchmark, and 74% of the years being positive.\nThe graph below, using Morningstar data, shows bull and bear markets since the late 20’s all the way to 2018.\n\nA Bull Market is measured from the lowest close reached after the market has fallen 20% or more to the next high.\nA Bear Market is defined as the index closing at least 20% down from its previous high close. Its duration is the period from the previous high to the lowest close reached after it has fallen 20% or more.\n\nSource: First Trust via Morningstar\nThere are two conclusions that should remain with you:\n\nThe stock market goes up much more than it goes down (several bull markets have lasted more than 10 years, at more than 17% average annualized return)\nWhen it goes down, it goes down fast and sharply (bear markets have lasted less than 3 years, from -22% to -83%)\n\nA bull market might seem like a steady path up and to the right, but volatility is present in all market conditions. Red days and moments of doubt are very common, even through bull markets. From 2009 to 2020, a period of fantastic market returns, you had to go through Brexit, trade wars and general elections, all prompting pundits of all kinds to predict an imminent market collapse.\nTrying to time the market is a waste of time: Nobody can predict it, and if you are out of the market, you are missing on the gains that the market is willing to give you over the years.\nAs pointed out before by Morgan Housel, partner at The Collaborative Fund, stock market crashes happen all the time. Recognizing how often market crashes happen can give you a better idea of what you are getting into and the risks you are taking when investing in equities.\nHere is the historical frequency of pullbacks identified since 1928:\n\nBased on historical data, frequent market sell-offs are the price of admission to the stock market. They happen often, and in an unpredictable way. But the market eventually resumes its path up and to the right, inexorably following GDP growth. If you decide to be out of the market, you are far more likely to be wrong than right, and even more so over long periods of time.\nUnderstanding Risk\nWhen you invest, you are taking not only a market risk but also several specific risks.\n\nMarket Risk: An individual stock is subject at least partially to the same volatility as the market. Think about boats moving up and down with the tide.\nSector Risk:If the entire tech sector takes a beating, like in the early 2000s, even the stocks of solid companies like Microsoft (MSFT) can go down. Companies from the same sector tend to move in tandem, as illustrated by the recent pull-back.\nCompany Risk:The most obvious one. If a company’s business slows down or fails to deliver on expectation, or even files for bankruptcy.\n\nWhen you decide to invest in equities, you already have made the decision to embrace market risk. The best you can do is to recognize it for what it is and let it work its magic both on the way up and on the way down.\nIf you are exposed to a specific sector or category such as Enterprise Software, it should not surprise you to see excellent companies such as CrowdStrike (CRWD), Twilio (TWLO) or Zoom Video (ZM) fall together in the past few days. Your willingness to see a large part of your portfolio underperform for an extended time should educate the level of concentration you are willing to take in a given company or a given sector.\nSome perspective\nThe most powerful way to keep emotions in check in a market sell-off is to take a step back and look at the bigger picture.\nI want to provide readers with a look at my own portfolio drawdown. My real-money portfolio is highly volatile, mostly because it's heavy in the Technology, Communication and Discretionary sectors. I have enjoyed a significant market beating performance over the years, with my portfolio returning +395% since 2015 - even factoring the recent sell-off.\nDuring market sell-offs, my portfolio tends to take a deeper dive, which I'm perfectly fine with because volatility works both ways, and I'm willing to go through the emotional roller-coaster in order to achieve an above-average performance. This strategy is not for everyone, and it works for me only because I'm very patient and invest for the next five, 10, 15, 20 years and beyond. I identify a market sell-off as an opportunity to buy. If that's not your natural tendency, you are probably better off investing in index funds automatically and let someone re-balance it for you.\nMy real-money portfolio has taken a big hit over the last few days. My investments in companies like Teladoc (TDOC), Fastly (FSLY) or Zillow (Z) are down more than 30% since mid-February. Huge winners of the App Economy Portfolio like Shopify (SHOP) or The Trade Desk (TTD) (both 11-baggers as of this writing) are down more than 25% from their all-time-high.\nBut instead of focusing on the past week, or even the past month, I like to look at my portfolio performance over the years to keep things in perspective. As illustrated below, I might be down significantly over the past week, but it should only be observed in the grand scheme of things. My own strategy has enabled me to more than quadruple the S&P 500 performance since 2015. How many times has my portfolio dropped 10% in a few days, only to eventually rebound to new highs? Measuring my own performance and keeping score has helped me stick to my own strategy.\nSource: App Economy Portfolio performance from Personal Capital\nIt's also interesting to look back at the previous large market drawdowns that occurred in late 2018 or in March 2020, clearly visible on the chart. When I look back at my trades during these sell-offs, I see multi-bagger returns across the board. This illustrates why sticking to your strategy during market drawdowns can be extremely lucrative.\nFocus on quality businesses that rarely sell-off\nWarren Buffettwiselyrecommends to \"Be fearful when others are greedy and greedy when others are fearful.\"\nI wrote previously aboutfear and greedand how most investors have it all wrong. Even if you are buying during a market sell-off, you might be doing it wrong.\n\nAre you investing in quality companies or simply chasing bargains?\nAre you buying something because it is \"dirt cheap\" or seizing the opportunity to accumulate quality stocks at a lower price?\n\nThe main reason you should be looking for quality rather than sheer value in the context of a market sell-off is that you are already benefiting from a market discount. That discount is offered usually across all types of investments, making some of the best companies more affordable.\nMarket and sector sell-offs are a unique opportunity to finally get a discount on the businesses that keep hitting new all-time-highs and running away from you. I believe that's where your focus should be.\nOf course, the skeptics will continue to say that the high-growth stocks remain extremely over-priced by historical standards. They predict that the next shoe is about to drop, even in the face of a market correction. This mindset has kept many investors away from FAANG stocks (Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Alphabet (GOOG)(NASDAQ:GOOGL)) in the past decade.\nPredicting an imminent crash? Isn't this the very symptom of fear?\nBuilding up positions in your winners is a powerful investment philosophy and one that makes even more sense in the context of a market downturn. I covered the art ofadding to your winnerspreviously when I explained why I was adding to my position in MongoDB (MDB).\n\nThese great businesses that sit at the top of your portfolio are the very same as they were before any sector rotation, and they will still be the same after the storm passes. In the short term, a stock performance can be detached from the underlying business, both in up and down markets.\nSource: CNBC\nCash deployment strategy\nNow, assuming you understand the importance of maintaining an optimistic outlook in the face of a market sell-off and are ready for some shopping to take advantage of depressed valuations, we still need to talk about cash deployment strategies.\nMaybe you have cash on the sidelines and you are wondering when or how to put it to use. Many investors make the mistake of going all-in at the first sight of a market pull-back of a few percentage points, only to feel buyer's remorse when the market continues to fall.\nI love this blog postfrom Morgan Housel covering his cash deployment strategy in the context of a market drawdown. He shows in this graph how much of his cash set aside for investing he would deploy in the market based on how much the market has sold off.\n\nSince the S&P 500 is generally used as a proxy for \"the market,\" we still have a long way to go before we hit even the 10% mark. I tend to look at how much my own portfolio has fallen from its previous high as an indicator of the opportunity at play. For example, the App Economy Portfolio is down about 17% from its previous high as of this writing. Using the chart above, it would indicate that now is a good time to deploy around 32% of the cash available to invest.\nWhichever indicator you choose (the S&P, the Nasdaq, your own portfolio draw-down), this is an interesting way to look at cash deployment that can help your investing strategy and avoid running out of dry powder too fast.\nThe Art of Doing Nothing\nBecause emotions run high after a series of red days, the best course of action is often to sit on your hands. That's right, doing nothing at all.\nAs a marketplace leader, I get questions every day about portfolio re-balancing, usually taking the form of a desire to chase returns. Many investors decide they want to reallocate a large part of a portfolio based on what seems right to do in the heat of the moment.\nThe reality is that no portfolio re-balancing should happen in a hurry or be prompted by events that have nothing to do with your long-term strategy. That's why journaling and writing down your investing strategy can be so powerful. It can guide you and put you back on track when you feel compelled to break it all apart.\nRecognizing that there is no urgency to act is essential. As I pointed out in many articles, if your next trade cannot wait for a few days, you are likely making an emotional decision. A great investment should not depend on perfect timing or finding the exact bottom.\nThe Grind\nWe all want to get our accounts to new all-time highs.\nWe do it by saving and investing.\nIt's a given that there are setbacks to the market on the way to new highs. Whenever a new sell-off occurs, we are all back in the grind trying to get our account back to all-time highs.\nThe truth is that everybody has to go through the grind. You should not rely on an overnight success, because there is no such thing. Even Warren Buffett's portfolio is down this week. Think about it.\nA sell-off is naturally shaking out the weak hands and the most emotional investors among us. Make no mistake: The grind and your capacity to go through it all is part of what makes you a great investor.\nConclusion\nInvesting in a down market is a unique opportunity to invest for the long term. The key is to give yourself the best chance to stay cool and make the best decisions:\n\nUnderstand what bull and bear markets really are.\nEvaluate the risks you are taking and why you are taking them.\nIdentify and recognize your emotions and keep them in check.\nIf you want to sell or re-balance yourportfolio: Ask yourself if your investment thesis has really changed, or whether you're simply reacting to the news cycle.\nIf you want to buy: Ask yourself if you are merely chasing a bargain, or if you truly want to invest in a quality company for the long run.\nPrioritize the businesses that rarely offer a discount.\nLook at the big picture: Sell-offs are part of the grind, and we'll all come out stronger on the other 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