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gurug
2021-12-07
Oh
The Ugly Truth About Market Bubbles Is That Everyone Loses
gurug
2021-12-07
Oh
GameStop Reports Earnings on Wednesday. What to Expect.
gurug
2021-12-07
Oh
CrowdStrike Stock: What To Consider After Recent Earnings
gurug
2021-12-02
Today is a very red day all around
U.S. Stocks’ Wall of Worry Rises Far Beyond the Omicron Variant
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21:25","market":"us","language":"en","title":"The Ugly Truth About Market Bubbles Is That Everyone Loses","url":"https://stock-news.laohu8.com/highlight/detail?id=1171622002","media":"Bloomberg","summary":"The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too l","content":"<p>The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too long at the party.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc1d6b85b669c546b0c3820b4be94a95\" tg-width=\"594\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Bubbles tend to disappoint everyone. Photographer: Peter Macdiarmid/Getty Images</span></p>\n<p>I was chatting a few days ago with one of the smartest hedge fund managers I know. We were talking about the recent carnage in unprofitable tech “dream” stocks, and he reminded me of a time many have forgotten. “From 1995 to 2000, I watched some of the shrewdest managers get annihilated shorting the dot-com bubble,” he said. “By the end, they all went out of business. I then watched the next five years destroy all the long managers who had ridden the euphoria to the upside, until most of the aggressive ones were also sent packing.”</p>\n<p><img src=\"https://static.tigerbbs.com/4dd4c749c67d61c23949a7f474c2d4b9\" tg-width=\"952\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p>\n<p>In hindsight, bubbles always seem obvious and easy to trade. As someone who has experienced more of these than I care to remember, I assure you they are not. Take the mid-2000s real estate episode. With movies such as the “Big Short,”and glowing newspaper articles about hedge fund managers who made fortunes profiting from the real estate collapse, it seems like opportunity was everywhere.</p>\n<p>What we forget is that these trades were successful because so few believed they could happen. I can’t tell you the number of times a young trader tells me, “I wish I had been around back then, ‘cause I would have made a killing!” What they don’t understand is that, in the moment, bubbles are extremely difficult to identify. They are even tougher to trade.</p>\n<p>I’ll never forget trying to take advantage of the real estate mania in 2005. I thought the sector was wildly overpriced. That February, when it appeared the homebuilders had topped and started to roll over, I shorted a basket of homebuilder stocks. The trade worked until April. Then, much to the surprise of the bears, homebuilder shares ripped higher by 35% in the space of two months, and I got shaken out of my short positions.</p>\n<p><img src=\"https://static.tigerbbs.com/e51f2f747898fa96b050df63f1331cf3\" tg-width=\"962\" tg-height=\"543\" width=\"100%\" height=\"auto\"></p>\n<p>The ugly truth about bubbles is that both the bears and the bulls end up losing. The bears are inevitably too early, and by the time the market rolls over, the vast majority have given up. The bulls, who have been conditioned to buy every dip, stay at the party much too late.</p>\n<p>Bubbles used to be rare and encompass entire asset classes. But markets have evolved. Even back almost a decade ago it wasn’t hard to see how the proliferation of hedge funds had decreased the amount of available “alpha,”creating an environment prone to a series of rolling mini-bubbles. As sophisticated investors deployed capital into themes or sectors, the price action encouraged momentum-chasers. This affirmed the belief that the fundamental investors were on to something, causing more buying and resulting in a positive feedback loop.</p>\n<p>Then Covid-19 hit and mini-bubbles became perversely extreme. At the March 2020 crisis bottom, the Goldman Sachs Non-Profitable Technology Index had fallen 40%, attracting short sellers. Then, over the summer, the basket of shares rallied 38% and financial airwaves were filled with gurus like Chamath Palihapitiya and Cathie Wood espousing the virtues of these new technology marvels. And, just like previous bubbles, even the skeptics eventually feared shorting due to the violent rallies. Some 11 months later, this group of stocks had risen an astonishing 478%.</p>\n<p><img src=\"https://static.tigerbbs.com/9f103858e403af7f2a092fa64d7e3724\" tg-width=\"958\" tg-height=\"555\" width=\"100%\" height=\"auto\"></p>\n<p>And yet, here we are. The index has declined 41% from the 2021 high. Surely, there are individual “rock star” investors who made money, but as a group, both the bulls and bears have been beaten up. Most of the vocal bears have stopped forecasting a decline, while the majority of bulls remain long even though many are now underwater on their trades.</p>\n<p>I don’t know the direction of this sector over the short-run, but experience tells me it is a painful bear market with face-ripping rallies that lure bulls back in and forces bears to cover their bets before it resumes its relentless march lower.</p>\n<p>Years from now, with the benefit of hindsight, it will seem obvious these stocks were wildly overvalued. The few investors smart enough to get out at the top, or lean into the short side on the way down, will be celebrated. It will all seem so easy. Yet, in the midst of the actual event, it is anything but.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Ugly Truth About Market Bubbles Is That Everyone Loses</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\">\nThe Ugly Truth About Market Bubbles Is That Everyone Loses\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 21:25 GMT+8 <a href=https://www.bloomberg.com/opinion/articles/2021-12-07/stock-market-the-ugly-truth-about-bubbles-is-everyone-loses?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too long at the party.\nBubbles tend to disappoint everyone. Photographer: Peter Macdiarmid/Getty Images\nI...</p>\n\n<a href=\"https://www.bloomberg.com/opinion/articles/2021-12-07/stock-market-the-ugly-truth-about-bubbles-is-everyone-loses?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/opinion/articles/2021-12-07/stock-market-the-ugly-truth-about-bubbles-is-everyone-loses?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171622002","content_text":"The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too long at the party.\nBubbles tend to disappoint everyone. Photographer: Peter Macdiarmid/Getty Images\nI was chatting a few days ago with one of the smartest hedge fund managers I know. We were talking about the recent carnage in unprofitable tech “dream” stocks, and he reminded me of a time many have forgotten. “From 1995 to 2000, I watched some of the shrewdest managers get annihilated shorting the dot-com bubble,” he said. “By the end, they all went out of business. I then watched the next five years destroy all the long managers who had ridden the euphoria to the upside, until most of the aggressive ones were also sent packing.”\n\nIn hindsight, bubbles always seem obvious and easy to trade. As someone who has experienced more of these than I care to remember, I assure you they are not. Take the mid-2000s real estate episode. With movies such as the “Big Short,”and glowing newspaper articles about hedge fund managers who made fortunes profiting from the real estate collapse, it seems like opportunity was everywhere.\nWhat we forget is that these trades were successful because so few believed they could happen. I can’t tell you the number of times a young trader tells me, “I wish I had been around back then, ‘cause I would have made a killing!” What they don’t understand is that, in the moment, bubbles are extremely difficult to identify. They are even tougher to trade.\nI’ll never forget trying to take advantage of the real estate mania in 2005. I thought the sector was wildly overpriced. That February, when it appeared the homebuilders had topped and started to roll over, I shorted a basket of homebuilder stocks. The trade worked until April. Then, much to the surprise of the bears, homebuilder shares ripped higher by 35% in the space of two months, and I got shaken out of my short positions.\n\nThe ugly truth about bubbles is that both the bears and the bulls end up losing. The bears are inevitably too early, and by the time the market rolls over, the vast majority have given up. The bulls, who have been conditioned to buy every dip, stay at the party much too late.\nBubbles used to be rare and encompass entire asset classes. But markets have evolved. Even back almost a decade ago it wasn’t hard to see how the proliferation of hedge funds had decreased the amount of available “alpha,”creating an environment prone to a series of rolling mini-bubbles. As sophisticated investors deployed capital into themes or sectors, the price action encouraged momentum-chasers. This affirmed the belief that the fundamental investors were on to something, causing more buying and resulting in a positive feedback loop.\nThen Covid-19 hit and mini-bubbles became perversely extreme. At the March 2020 crisis bottom, the Goldman Sachs Non-Profitable Technology Index had fallen 40%, attracting short sellers. Then, over the summer, the basket of shares rallied 38% and financial airwaves were filled with gurus like Chamath Palihapitiya and Cathie Wood espousing the virtues of these new technology marvels. And, just like previous bubbles, even the skeptics eventually feared shorting due to the violent rallies. Some 11 months later, this group of stocks had risen an astonishing 478%.\n\nAnd yet, here we are. The index has declined 41% from the 2021 high. Surely, there are individual “rock star” investors who made money, but as a group, both the bulls and bears have been beaten up. Most of the vocal bears have stopped forecasting a decline, while the majority of bulls remain long even though many are now underwater on their trades.\nI don’t know the direction of this sector over the short-run, but experience tells me it is a painful bear market with face-ripping rallies that lure bulls back in and forces bears to cover their bets before it resumes its relentless march lower.\nYears from now, with the benefit of hindsight, it will seem obvious these stocks were wildly overvalued. The few investors smart enough to get out at the top, or lean into the short side on the way down, will be celebrated. It will all seem so easy. Yet, in the midst of the actual event, it is anything but.","news_type":1},"isVote":1,"tweetType":1,"viewCount":747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606212602,"gmtCreate":1638884528211,"gmtModify":1638884528211,"author":{"id":"3570333347569010","authorId":"3570333347569010","name":"gurug","avatar":"https://static.tigerbbs.com/28b875422016d24f4fa1ad8dd7657d82","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606212602","repostId":"1104830433","repostType":4,"repost":{"id":"1104830433","pubTimestamp":1638884245,"share":"https://www.laohu8.com/m/news/1104830433?lang=&edition=full","pubTime":"2021-12-07 21:37","market":"us","language":"en","title":"GameStop Reports Earnings on Wednesday. What to Expect.","url":"https://stock-news.laohu8.com/highlight/detail?id=1104830433","media":"Barrons","summary":"GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the","content":"<p>GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the fourth earnings call since Chewy co-founder Ryan Cohen joined GameStop’s board, analysts are still waiting for a substantial update on management’s turnaround efforts.</p>\n<p>Since shares exploded in January, GameStop (ticker: GME) executives have kept earnings calls limited to prepared to remarks, with no question and answer session with analysts. Wedbush analyst Michael Pachter told <i>Barron’s</i> he expects the company to hold another brief earnings call.</p>\n<p>Analysts—well, the remaining four still providing FactSet with GameStop estimates—expect the company to report a fiscal third-quarter adjusted net loss of 52 cents a share with sales of $1.19 billion. That’s compared to a net loss of 76 cents a share and sales of $1.18 billion in the second quarter.</p>\n<p>“Until supply of consoles improves, it’s going to be hard to see a marked improvement in their business,” Pachter says.</p>\n<p>GameStop stock closed down 3.1% to $167.12 on Monday. Shares, supported by retail investors who organize on social media sites like Reddit, have traded rangebound for much of this year. The stock’s highest close in six months was $302.56 on June 9, just before the company reported fiscal first-quarter results. Its lowest close in that period was $146.80 on Aug. 4.</p>\n<p>The company has announced plans to invest in e-commerce fulfillment capabilities and customer care efforts.Chewy (CHWY), the pet supply firm Cohen co-founded, outmaneuvered Amazon.com (AMZN) in that niche, in part because of its stellar customer care.</p>\n<p>Cohen has kept mostly mum, aside from cryptic posts on Twitter and a shareholder address in June after becoming the board’s chairman.</p>\n<p>“I think it probably is important to the Reddit crowd, but he doesn’t seem to experience any sense of urgency to let them know what his strategy is,” Pachter said. “There is a rational explanation, which is that there is no strategy.”</p>\n<p>Users on Reddit have speculated, pointing to GameStop job postings and other online breadcrumbs, that the company is planning a major play in the non-fungible token space. A GameStop NFT launch could inspire renewed optimism for the stock, but extrapolating any impact on the company’s fundamental prospects would be highly speculative.</p>\n<p>Still, shares aren’t primed for a short squeeze in the same way they were in January. Ihor Dusaniwsky, managing director at short-selling analytics firm S3 Partners, estimates that as of Friday, GameStop’s short interest was $1.18 billion, or 6.8 million shares shorted. That’s roughly 10.9% of shares available for trading.</p>\n<p>Most traditional buy and hold investors penciled out GameStop, and other meme stocks, months ago. That doesn’t make the earnings report, and the potential stock reaction, any less interesting.</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>GameStop Reports Earnings on Wednesday. What to Expect.</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\">\nGameStop Reports Earnings on Wednesday. What to Expect.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 21:37 GMT+8 <a href=https://www.barrons.com/articles/gamestop-earnings-stock-price-what-to-expect-51638838178?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the fourth earnings call since Chewy co-founder Ryan Cohen joined GameStop’s board, analysts are still ...</p>\n\n<a href=\"https://www.barrons.com/articles/gamestop-earnings-stock-price-what-to-expect-51638838178?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":{"GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-earnings-stock-price-what-to-expect-51638838178?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104830433","content_text":"GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the fourth earnings call since Chewy co-founder Ryan Cohen joined GameStop’s board, analysts are still waiting for a substantial update on management’s turnaround efforts.\nSince shares exploded in January, GameStop (ticker: GME) executives have kept earnings calls limited to prepared to remarks, with no question and answer session with analysts. Wedbush analyst Michael Pachter told Barron’s he expects the company to hold another brief earnings call.\nAnalysts—well, the remaining four still providing FactSet with GameStop estimates—expect the company to report a fiscal third-quarter adjusted net loss of 52 cents a share with sales of $1.19 billion. That’s compared to a net loss of 76 cents a share and sales of $1.18 billion in the second quarter.\n“Until supply of consoles improves, it’s going to be hard to see a marked improvement in their business,” Pachter says.\nGameStop stock closed down 3.1% to $167.12 on Monday. Shares, supported by retail investors who organize on social media sites like Reddit, have traded rangebound for much of this year. The stock’s highest close in six months was $302.56 on June 9, just before the company reported fiscal first-quarter results. Its lowest close in that period was $146.80 on Aug. 4.\nThe company has announced plans to invest in e-commerce fulfillment capabilities and customer care efforts.Chewy (CHWY), the pet supply firm Cohen co-founded, outmaneuvered Amazon.com (AMZN) in that niche, in part because of its stellar customer care.\nCohen has kept mostly mum, aside from cryptic posts on Twitter and a shareholder address in June after becoming the board’s chairman.\n“I think it probably is important to the Reddit crowd, but he doesn’t seem to experience any sense of urgency to let them know what his strategy is,” Pachter said. “There is a rational explanation, which is that there is no strategy.”\nUsers on Reddit have speculated, pointing to GameStop job postings and other online breadcrumbs, that the company is planning a major play in the non-fungible token space. A GameStop NFT launch could inspire renewed optimism for the stock, but extrapolating any impact on the company’s fundamental prospects would be highly speculative.\nStill, shares aren’t primed for a short squeeze in the same way they were in January. Ihor Dusaniwsky, managing director at short-selling analytics firm S3 Partners, estimates that as of Friday, GameStop’s short interest was $1.18 billion, or 6.8 million shares shorted. That’s roughly 10.9% of shares available for trading.\nMost traditional buy and hold investors penciled out GameStop, and other meme stocks, months ago. That doesn’t make the earnings report, and the potential stock reaction, any less interesting.","news_type":1},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606212988,"gmtCreate":1638884475671,"gmtModify":1638884475671,"author":{"id":"3570333347569010","authorId":"3570333347569010","name":"gurug","avatar":"https://static.tigerbbs.com/28b875422016d24f4fa1ad8dd7657d82","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/606212988","repostId":"1114040351","repostType":4,"repost":{"id":"1114040351","pubTimestamp":1638883839,"share":"https://www.laohu8.com/m/news/1114040351?lang=&edition=full","pubTime":"2021-12-07 21:30","market":"us","language":"en","title":"CrowdStrike Stock: What To Consider After Recent Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=1114040351","media":"Seeking Alpha","summary":"Summary\n\nCrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst t","content":"<p><b>Summary</b></p>\n<ul>\n <li>CrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst the tech sector rout.</li>\n <li>The stock still doesn't trade cheaply but it has arguably earned a premium multiple through consistent growth and strong cash flow generation.</li>\n <li>Cybersecurity is like insurance that all firms will need to purchase for cloud security.</li>\n <li>I rate shares a buy as the reduced multiples leave much room to the upside.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/770bf376305b1167868307e6a5706acf\" tg-width=\"1536\" tg-height=\"864\" width=\"100%\" height=\"auto\"><span>gorodenkoff/iStock via Getty Images</span></p>\n<p>CrowdStrike (CRWD) might not come up at the top of the list of cheapest tech stocks to buy, but it has seen its stock get hammered amidst the tech sector correction. The stock has typically traded very richly, making the volatility less surprising, but CRWD remains one of the highest quality stocks in the market today. I view its cybersecurity offerings to be akin to buying insurance for cloud security, making it a critical growth area for the indefinite future. Due to the perceived reliability of future growth, the stock looks ripe for a re-rating. I rate shares a buy.</p>\n<p><b>CRWD Stock Price</b></p>\n<p>CRWD almost perfectly shows what can be expected from a high-growth, high volatility stock, as it appears to move sharply higher during bull runs, and sharply lower during corrections as it has as of late.</p>\n<p><img src=\"https://static.tigerbbs.com/79116039cda946b91fda98731f1f5e82\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"></p>\n<p>CRWD has typically traded at egregious multiples which had kept me from meaningfully investing in the name. Now trading just under $200 per share, one must start wondering if there’s even a value proposition here. While CRWD might not be a household name to the common person, it appears to be a household favorite for Wall Street firms as it is some sort of insurance for anyone operating in the cloud. While the stock far from the cheapest name in the tech sector, this may be the time to pounce.</p>\n<p><b>Is CrowdStrike Overvalued?</b></p>\n<p>Even after the decline, is CRWD still overvalued? At least judging based on the stock price versus consensus price targets, CRWD is trading at its largest difference in many months.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/400c546bc352da19770dc0892e11c65d\" tg-width=\"1280\" tg-height=\"682\" width=\"100%\" height=\"auto\"><span>Seeking Alpha</span></p>\n<p>That is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.</p>\n<p><b>What To Expect After CrowdStrike Earnings</b></p>\n<p>CRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/529fe5ee504f170ba474658746cdb8b3\" tg-width=\"1280\" tg-height=\"644\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>That is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.</p>\n<p><b>What To Expect After CrowdStrike Earnings</b></p>\n<p>CRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/529fe5ee504f170ba474658746cdb8b3\" tg-width=\"1280\" tg-height=\"644\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>Judging based on the metrics above, it appears that CRWD still has more room to grow even among the largest companies. The more that CRWD continues to take market share in the sector, the easier it becomes to attract new clients due to the powerful brand recognition. If the top companies in your sector are using CrowdStrike and you aren’t, then that may put you at greater risk in the event of a cybersecurity event.</p>\n<p>CRWD has generated strong dollar-based retention rates in excess of its 120% benchmark.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95654debcba36ed79f4e2d5a19b086b2\" tg-width=\"1280\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>CRWD charges on a per-endpoint model, which should help sustain the high dollar-based retention rates as the world continues moving toward a digital world. Combining high dollar-based retention rates with customer growth has helped CRWD grow its annual recurring revenues by 67% in the latest quarter.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9cae35096ef4ecc024fbcb42dcbb204f\" tg-width=\"1280\" tg-height=\"652\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>While CRWD is not yet GAAP profitable, it has been consistently achieving operating leverage and is solidly profitable on a non-GAAP basis (the main difference is stock based compensation)</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d65ba9f58338fda3266fa25e94bc720f\" tg-width=\"1280\" tg-height=\"770\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>In fact, I suspect that CRWD’s 32% free cash flow margin to be a huge drawing point for investors, as it may be predictive of future operating margins. CRWD’s cash flow generation has helped it amass over $1 billion in net cash. Looking forward, CRWD expects the strong growth to continue, as it expects organizations to steadily increase their spend on cloud security to as much as 10% of its IT budget.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c72dde811a34c995ed10fe2d1104153a\" tg-width=\"1280\" tg-height=\"661\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>This kind of thinking makes CRWD appear like some sort of insurance for anyone in the cloud, which is arguably a phenomenal place to be in the expense structure. Further, there is the clear implication that CRWD will grow in-line with the growth of data, which is one of the stronger secular growth stories in the market today.</p>\n<p><b>Is CRWD Stock A Buy, Sell, or Hold?</b></p>\n<p>The strong growth, solid cash flow generation, and insurance-like niche all make CRWD look like a safe stock. That safety characteristic has helped it trade at healthy multiples. Even after the recent stock declines, CRWD still trades above 30x sales.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa7c00bbe9df86dcc89839f27d128f1e\" tg-width=\"1280\" tg-height=\"214\" width=\"100%\" height=\"auto\"><span>Seeking Alpha</span></p>\n<p>What is a fair value for the stock? CRWD has guided for long term 20% operating margins.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1614660c29368136dad041d45dde80b4\" tg-width=\"1280\" tg-height=\"624\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>At the risk of coming off optimistic, I view these targets as being highly sandbagged especially considering that the company is already generating 40% cash flow margins. Nonetheless, I assume 30% long term operating margins (50% seems more reasonable). At recent prices, CRWD is trading at an effective 1.4x price to earnings growth ratio (‘PEG’) based on 2022e sales, and 1.3x PEG based on 2023e sales. Yet those projections for 2022 and 2023 growth seem understated, as CRWD should be able to get to around 20% growth just from dollar-based net retention alone. I expect CRWD to be able to sustain 30+% growth over the next five years at least. With that kind of reliable growth profile, I would expect CRWD to trade closer to a 2x PEG, implying around 40% potential returns over the next 12 months. CRWD isn’t cheap, but the stock looks very buyable on the thesis that its high quality is deserving of higher multiples. I note that such a thesis leaves plenty of room to the downside, as the stock will likely be punished severely in the event that growth estimates fall short or if the company loses its quality luster. That said, the recent broad declines in the tech sector have brought CRWD down to highly reasonable multiples which appear to leave much room to the upside. I rate shares a buy.</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>CrowdStrike Stock: What To Consider After Recent Earnings</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\">\nCrowdStrike Stock: What To Consider After Recent Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 21:30 GMT+8 <a href=https://seekingalpha.com/article/4473627-crowdstrike-stock-recent-earnings><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst the tech sector rout.\nThe stock still doesn't trade cheaply but it has arguably earned a premium ...</p>\n\n<a href=\"https://seekingalpha.com/article/4473627-crowdstrike-stock-recent-earnings\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRWD":"CrowdStrike Holdings, Inc."},"source_url":"https://seekingalpha.com/article/4473627-crowdstrike-stock-recent-earnings","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114040351","content_text":"Summary\n\nCrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst the tech sector rout.\nThe stock still doesn't trade cheaply but it has arguably earned a premium multiple through consistent growth and strong cash flow generation.\nCybersecurity is like insurance that all firms will need to purchase for cloud security.\nI rate shares a buy as the reduced multiples leave much room to the upside.\n\ngorodenkoff/iStock via Getty Images\nCrowdStrike (CRWD) might not come up at the top of the list of cheapest tech stocks to buy, but it has seen its stock get hammered amidst the tech sector correction. The stock has typically traded very richly, making the volatility less surprising, but CRWD remains one of the highest quality stocks in the market today. I view its cybersecurity offerings to be akin to buying insurance for cloud security, making it a critical growth area for the indefinite future. Due to the perceived reliability of future growth, the stock looks ripe for a re-rating. I rate shares a buy.\nCRWD Stock Price\nCRWD almost perfectly shows what can be expected from a high-growth, high volatility stock, as it appears to move sharply higher during bull runs, and sharply lower during corrections as it has as of late.\n\nCRWD has typically traded at egregious multiples which had kept me from meaningfully investing in the name. Now trading just under $200 per share, one must start wondering if there’s even a value proposition here. While CRWD might not be a household name to the common person, it appears to be a household favorite for Wall Street firms as it is some sort of insurance for anyone operating in the cloud. While the stock far from the cheapest name in the tech sector, this may be the time to pounce.\nIs CrowdStrike Overvalued?\nEven after the decline, is CRWD still overvalued? At least judging based on the stock price versus consensus price targets, CRWD is trading at its largest difference in many months.\nSeeking Alpha\nThat is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.\nWhat To Expect After CrowdStrike Earnings\nCRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.\nInvestor Presentation\nThat is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.\nWhat To Expect After CrowdStrike Earnings\nCRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.\nInvestor Presentation\nJudging based on the metrics above, it appears that CRWD still has more room to grow even among the largest companies. The more that CRWD continues to take market share in the sector, the easier it becomes to attract new clients due to the powerful brand recognition. If the top companies in your sector are using CrowdStrike and you aren’t, then that may put you at greater risk in the event of a cybersecurity event.\nCRWD has generated strong dollar-based retention rates in excess of its 120% benchmark.\nInvestor Presentation\nCRWD charges on a per-endpoint model, which should help sustain the high dollar-based retention rates as the world continues moving toward a digital world. Combining high dollar-based retention rates with customer growth has helped CRWD grow its annual recurring revenues by 67% in the latest quarter.\nInvestor Presentation\nWhile CRWD is not yet GAAP profitable, it has been consistently achieving operating leverage and is solidly profitable on a non-GAAP basis (the main difference is stock based compensation)\nInvestor Presentation\nIn fact, I suspect that CRWD’s 32% free cash flow margin to be a huge drawing point for investors, as it may be predictive of future operating margins. CRWD’s cash flow generation has helped it amass over $1 billion in net cash. Looking forward, CRWD expects the strong growth to continue, as it expects organizations to steadily increase their spend on cloud security to as much as 10% of its IT budget.\nInvestor Presentation\nThis kind of thinking makes CRWD appear like some sort of insurance for anyone in the cloud, which is arguably a phenomenal place to be in the expense structure. Further, there is the clear implication that CRWD will grow in-line with the growth of data, which is one of the stronger secular growth stories in the market today.\nIs CRWD Stock A Buy, Sell, or Hold?\nThe strong growth, solid cash flow generation, and insurance-like niche all make CRWD look like a safe stock. That safety characteristic has helped it trade at healthy multiples. Even after the recent stock declines, CRWD still trades above 30x sales.\nSeeking Alpha\nWhat is a fair value for the stock? CRWD has guided for long term 20% operating margins.\nInvestor Presentation\nAt the risk of coming off optimistic, I view these targets as being highly sandbagged especially considering that the company is already generating 40% cash flow margins. Nonetheless, I assume 30% long term operating margins (50% seems more reasonable). At recent prices, CRWD is trading at an effective 1.4x price to earnings growth ratio (‘PEG’) based on 2022e sales, and 1.3x PEG based on 2023e sales. Yet those projections for 2022 and 2023 growth seem understated, as CRWD should be able to get to around 20% growth just from dollar-based net retention alone. I expect CRWD to be able to sustain 30+% growth over the next five years at least. With that kind of reliable growth profile, I would expect CRWD to trade closer to a 2x PEG, implying around 40% potential returns over the next 12 months. CRWD isn’t cheap, but the stock looks very buyable on the thesis that its high quality is deserving of higher multiples. I note that such a thesis leaves plenty of room to the downside, as the stock will likely be punished severely in the event that growth estimates fall short or if the company loses its quality luster. That said, the recent broad declines in the tech sector have brought CRWD down to highly reasonable multiples which appear to leave much room to the upside. I rate shares a buy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":659,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":603748682,"gmtCreate":1638456216075,"gmtModify":1638456216075,"author":{"id":"3570333347569010","authorId":"3570333347569010","name":"gurug","avatar":"https://static.tigerbbs.com/28b875422016d24f4fa1ad8dd7657d82","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Today is a very red day all around","listText":"Today is a very red day all around","text":"Today is a very red day all around","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/603748682","repostId":"1139890977","repostType":2,"repost":{"id":"1139890977","pubTimestamp":1638426308,"share":"https://www.laohu8.com/m/news/1139890977?lang=&edition=full","pubTime":"2021-12-02 14:25","market":"us","language":"en","title":"U.S. Stocks’ Wall of Worry Rises Far Beyond the Omicron Variant","url":"https://stock-news.laohu8.com/highlight/detail?id=1139890977","media":"Bloomberg","summary":"Fed rate path, inflation, valuations may all be playing a role\nStock declines are much broader than ","content":"<ul>\n <li>Fed rate path, inflation, valuations may all be playing a role</li>\n <li>Stock declines are much broader than from delta pullback</li>\n</ul>\n<p>Investors are worrying about a lot more than just the omicron variant, if recent market moves are anything to go by.</p>\n<p>While the newly discovered virus strain has been one of the main catalysts for the recent slump in U.S. stocks, action under the surface points to concerns about the Federal Reserve, inflation, valuations, year-end volatility and perhaps even some some profit-taking after a solid year of gains.</p>\n<p>The selloff is the broadest since the worst pandemic fears last year, at least according to a gauget racking shares hitting 52-week lows relative to those at highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0ef9e660ce9da97a30717aa4eda6016f\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>“Both Covid headlines and the perception that the Fed will tighten in the face of a negative shock to the economy are weighing on equities,” said Peter Berezin of BCA Research.</p>\n<p><b>Delta Blues</b></p>\n<p>When the delta variant was emerging as a concern, investors rotated to stay-at-home and defensive growth stocks, and away from reopening shares.</p>\n<p>This time around, a wider swath of the market has suffered -- including technology names that should benefit from further restrictions such as Zoom Video Communications Inc. and Netflix Inc.</p>\n<p>The Nasdaq 100 Index -- which rose 14% during the ‘peak’ delta months of June, July and August -- has fallen 3% since Thanksgiving, when omicron first hit the attention of traders.</p>\n<p>The weakness is especially noticeable as bond yields are falling, a move which usually helps investors justify high-priced valuations for growth stocks though also a signal of concern over the outlook for the economy.</p>\n<p>“The problem is U.S. equity valuations, which have been priced for perfection and now confront a noticeably less-perfect world,” said Nicholas Colas, co-founder of DataTrek Research. “We won’t know much about the latest pandemic variant for a few weeks, and 10-year Treasuries are flashing yellow about future economic growth.”</p>\n<p><img src=\"https://static.tigerbbs.com/d3a39510347b6a47d23a40a72ddb9b9f\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>Investor concern over inflation is still prevalent, especially the worry it will force the Fed to jack up rates sooner-than-expected, putting the pandemic recovery under threat.</p>\n<p>Jerome Powell told Congress this week the Fed will consider ending its asset purchases earlier than planned, tapering the stimulus that has helped fuel this year’s record stock rally.</p>\n<p>“The real issue is the fear of liquidity coming out of the system, not so much the variant,” Alicia Levine, head of equities and capital markets advisory at BNY Mellon Wealth Management, said on Bloomberg Television. Liquidity “has really driven markets for the last 20 months and has made everybody a genius and everybody a winner. Now it’s going to get a little bit more complicated.”</p>\n<p><b>Seasonal Swings</b></p>\n<p>The sharp selloff has blindsided investors contemplating the chances of a year-end rally to cap a stellar 2021 for stocks. The S&P 500 closed at an all-time high on Nov. 18, up almost 27% for the year. It has fallen about 4% since.</p>\n<p>The last month of the year traditionally sees investors dialing back risk and an increase in price swings as trading volumes dry up. Over the last decade, the Cboe Volatility Index has jumped by 12% on average in December.</p>\n<p>“Stock investors’ knee-jerk reaction may continue to be to take profits before the end of the year,” said Ed Yardeni, president of Yardeni Research. “The Santa Claus rally started early this year. The question is whether it is over already.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Stocks’ Wall of Worry Rises Far Beyond the Omicron Variant</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\">\nU.S. Stocks’ Wall of Worry Rises Far Beyond the Omicron Variant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 14:25 GMT+8 <a href=https://www.bloomberg.com/news/articles/2021-12-02/u-s-stocks-wall-of-worry-rises-far-beyond-the-omicron-variant><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fed rate path, inflation, valuations may all be playing a role\nStock declines are much broader than from delta pullback\n\nInvestors are worrying about a lot more than just the omicron variant, if ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-02/u-s-stocks-wall-of-worry-rises-far-beyond-the-omicron-variant\">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"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-02/u-s-stocks-wall-of-worry-rises-far-beyond-the-omicron-variant","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139890977","content_text":"Fed rate path, inflation, valuations may all be playing a role\nStock declines are much broader than from delta pullback\n\nInvestors are worrying about a lot more than just the omicron variant, if recent market moves are anything to go by.\nWhile the newly discovered virus strain has been one of the main catalysts for the recent slump in U.S. stocks, action under the surface points to concerns about the Federal Reserve, inflation, valuations, year-end volatility and perhaps even some some profit-taking after a solid year of gains.\nThe selloff is the broadest since the worst pandemic fears last year, at least according to a gauget racking shares hitting 52-week lows relative to those at highs.\n\n“Both Covid headlines and the perception that the Fed will tighten in the face of a negative shock to the economy are weighing on equities,” said Peter Berezin of BCA Research.\nDelta Blues\nWhen the delta variant was emerging as a concern, investors rotated to stay-at-home and defensive growth stocks, and away from reopening shares.\nThis time around, a wider swath of the market has suffered -- including technology names that should benefit from further restrictions such as Zoom Video Communications Inc. and Netflix Inc.\nThe Nasdaq 100 Index -- which rose 14% during the ‘peak’ delta months of June, July and August -- has fallen 3% since Thanksgiving, when omicron first hit the attention of traders.\nThe weakness is especially noticeable as bond yields are falling, a move which usually helps investors justify high-priced valuations for growth stocks though also a signal of concern over the outlook for the economy.\n“The problem is U.S. equity valuations, which have been priced for perfection and now confront a noticeably less-perfect world,” said Nicholas Colas, co-founder of DataTrek Research. “We won’t know much about the latest pandemic variant for a few weeks, and 10-year Treasuries are flashing yellow about future economic growth.”\n\nInvestor concern over inflation is still prevalent, especially the worry it will force the Fed to jack up rates sooner-than-expected, putting the pandemic recovery under threat.\nJerome Powell told Congress this week the Fed will consider ending its asset purchases earlier than planned, tapering the stimulus that has helped fuel this year’s record stock rally.\n“The real issue is the fear of liquidity coming out of the system, not so much the variant,” Alicia Levine, head of equities and capital markets advisory at BNY Mellon Wealth Management, said on Bloomberg Television. Liquidity “has really driven markets for the last 20 months and has made everybody a genius and everybody a winner. Now it’s going to get a little bit more complicated.”\nSeasonal Swings\nThe sharp selloff has blindsided investors contemplating the chances of a year-end rally to cap a stellar 2021 for stocks. The S&P 500 closed at an all-time high on Nov. 18, up almost 27% for the year. It has fallen about 4% since.\nThe last month of the year traditionally sees investors dialing back risk and an increase in price swings as trading volumes dry up. Over the last decade, the Cboe Volatility Index has jumped by 12% on average in December.\n“Stock investors’ knee-jerk reaction may continue to be to take profits before the end of the year,” said Ed Yardeni, president of Yardeni Research. “The Santa Claus rally started early this year. The question is whether it is over already.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":606212988,"gmtCreate":1638884475671,"gmtModify":1638884475671,"author":{"id":"3570333347569010","authorId":"3570333347569010","name":"gurug","avatar":"https://static.tigerbbs.com/28b875422016d24f4fa1ad8dd7657d82","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/606212988","repostId":"1114040351","repostType":4,"repost":{"id":"1114040351","pubTimestamp":1638883839,"share":"https://www.laohu8.com/m/news/1114040351?lang=&edition=full","pubTime":"2021-12-07 21:30","market":"us","language":"en","title":"CrowdStrike Stock: What To Consider After Recent Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=1114040351","media":"Seeking Alpha","summary":"Summary\n\nCrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst t","content":"<p><b>Summary</b></p>\n<ul>\n <li>CrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst the tech sector rout.</li>\n <li>The stock still doesn't trade cheaply but it has arguably earned a premium multiple through consistent growth and strong cash flow generation.</li>\n <li>Cybersecurity is like insurance that all firms will need to purchase for cloud security.</li>\n <li>I rate shares a buy as the reduced multiples leave much room to the upside.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/770bf376305b1167868307e6a5706acf\" tg-width=\"1536\" tg-height=\"864\" width=\"100%\" height=\"auto\"><span>gorodenkoff/iStock via Getty Images</span></p>\n<p>CrowdStrike (CRWD) might not come up at the top of the list of cheapest tech stocks to buy, but it has seen its stock get hammered amidst the tech sector correction. The stock has typically traded very richly, making the volatility less surprising, but CRWD remains one of the highest quality stocks in the market today. I view its cybersecurity offerings to be akin to buying insurance for cloud security, making it a critical growth area for the indefinite future. Due to the perceived reliability of future growth, the stock looks ripe for a re-rating. I rate shares a buy.</p>\n<p><b>CRWD Stock Price</b></p>\n<p>CRWD almost perfectly shows what can be expected from a high-growth, high volatility stock, as it appears to move sharply higher during bull runs, and sharply lower during corrections as it has as of late.</p>\n<p><img src=\"https://static.tigerbbs.com/79116039cda946b91fda98731f1f5e82\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"></p>\n<p>CRWD has typically traded at egregious multiples which had kept me from meaningfully investing in the name. Now trading just under $200 per share, one must start wondering if there’s even a value proposition here. While CRWD might not be a household name to the common person, it appears to be a household favorite for Wall Street firms as it is some sort of insurance for anyone operating in the cloud. While the stock far from the cheapest name in the tech sector, this may be the time to pounce.</p>\n<p><b>Is CrowdStrike Overvalued?</b></p>\n<p>Even after the decline, is CRWD still overvalued? At least judging based on the stock price versus consensus price targets, CRWD is trading at its largest difference in many months.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/400c546bc352da19770dc0892e11c65d\" tg-width=\"1280\" tg-height=\"682\" width=\"100%\" height=\"auto\"><span>Seeking Alpha</span></p>\n<p>That is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.</p>\n<p><b>What To Expect After CrowdStrike Earnings</b></p>\n<p>CRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/529fe5ee504f170ba474658746cdb8b3\" tg-width=\"1280\" tg-height=\"644\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>That is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.</p>\n<p><b>What To Expect After CrowdStrike Earnings</b></p>\n<p>CRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/529fe5ee504f170ba474658746cdb8b3\" tg-width=\"1280\" tg-height=\"644\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>Judging based on the metrics above, it appears that CRWD still has more room to grow even among the largest companies. The more that CRWD continues to take market share in the sector, the easier it becomes to attract new clients due to the powerful brand recognition. If the top companies in your sector are using CrowdStrike and you aren’t, then that may put you at greater risk in the event of a cybersecurity event.</p>\n<p>CRWD has generated strong dollar-based retention rates in excess of its 120% benchmark.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/95654debcba36ed79f4e2d5a19b086b2\" tg-width=\"1280\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>CRWD charges on a per-endpoint model, which should help sustain the high dollar-based retention rates as the world continues moving toward a digital world. Combining high dollar-based retention rates with customer growth has helped CRWD grow its annual recurring revenues by 67% in the latest quarter.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9cae35096ef4ecc024fbcb42dcbb204f\" tg-width=\"1280\" tg-height=\"652\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>While CRWD is not yet GAAP profitable, it has been consistently achieving operating leverage and is solidly profitable on a non-GAAP basis (the main difference is stock based compensation)</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d65ba9f58338fda3266fa25e94bc720f\" tg-width=\"1280\" tg-height=\"770\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>In fact, I suspect that CRWD’s 32% free cash flow margin to be a huge drawing point for investors, as it may be predictive of future operating margins. CRWD’s cash flow generation has helped it amass over $1 billion in net cash. Looking forward, CRWD expects the strong growth to continue, as it expects organizations to steadily increase their spend on cloud security to as much as 10% of its IT budget.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c72dde811a34c995ed10fe2d1104153a\" tg-width=\"1280\" tg-height=\"661\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>This kind of thinking makes CRWD appear like some sort of insurance for anyone in the cloud, which is arguably a phenomenal place to be in the expense structure. Further, there is the clear implication that CRWD will grow in-line with the growth of data, which is one of the stronger secular growth stories in the market today.</p>\n<p><b>Is CRWD Stock A Buy, Sell, or Hold?</b></p>\n<p>The strong growth, solid cash flow generation, and insurance-like niche all make CRWD look like a safe stock. That safety characteristic has helped it trade at healthy multiples. Even after the recent stock declines, CRWD still trades above 30x sales.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa7c00bbe9df86dcc89839f27d128f1e\" tg-width=\"1280\" tg-height=\"214\" width=\"100%\" height=\"auto\"><span>Seeking Alpha</span></p>\n<p>What is a fair value for the stock? CRWD has guided for long term 20% operating margins.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1614660c29368136dad041d45dde80b4\" tg-width=\"1280\" tg-height=\"624\" width=\"100%\" height=\"auto\"><span>Investor Presentation</span></p>\n<p>At the risk of coming off optimistic, I view these targets as being highly sandbagged especially considering that the company is already generating 40% cash flow margins. Nonetheless, I assume 30% long term operating margins (50% seems more reasonable). At recent prices, CRWD is trading at an effective 1.4x price to earnings growth ratio (‘PEG’) based on 2022e sales, and 1.3x PEG based on 2023e sales. Yet those projections for 2022 and 2023 growth seem understated, as CRWD should be able to get to around 20% growth just from dollar-based net retention alone. I expect CRWD to be able to sustain 30+% growth over the next five years at least. With that kind of reliable growth profile, I would expect CRWD to trade closer to a 2x PEG, implying around 40% potential returns over the next 12 months. CRWD isn’t cheap, but the stock looks very buyable on the thesis that its high quality is deserving of higher multiples. I note that such a thesis leaves plenty of room to the downside, as the stock will likely be punished severely in the event that growth estimates fall short or if the company loses its quality luster. That said, the recent broad declines in the tech sector have brought CRWD down to highly reasonable multiples which appear to leave much room to the upside. I rate shares a buy.</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>CrowdStrike Stock: What To Consider After Recent Earnings</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\">\nCrowdStrike Stock: What To Consider After Recent Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 21:30 GMT+8 <a href=https://seekingalpha.com/article/4473627-crowdstrike-stock-recent-earnings><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nCrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst the tech sector rout.\nThe stock still doesn't trade cheaply but it has arguably earned a premium ...</p>\n\n<a href=\"https://seekingalpha.com/article/4473627-crowdstrike-stock-recent-earnings\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRWD":"CrowdStrike Holdings, Inc."},"source_url":"https://seekingalpha.com/article/4473627-crowdstrike-stock-recent-earnings","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114040351","content_text":"Summary\n\nCrowdStrike delivered yet another strong quarter, though its stock took a nosedive amidst the tech sector rout.\nThe stock still doesn't trade cheaply but it has arguably earned a premium multiple through consistent growth and strong cash flow generation.\nCybersecurity is like insurance that all firms will need to purchase for cloud security.\nI rate shares a buy as the reduced multiples leave much room to the upside.\n\ngorodenkoff/iStock via Getty Images\nCrowdStrike (CRWD) might not come up at the top of the list of cheapest tech stocks to buy, but it has seen its stock get hammered amidst the tech sector correction. The stock has typically traded very richly, making the volatility less surprising, but CRWD remains one of the highest quality stocks in the market today. I view its cybersecurity offerings to be akin to buying insurance for cloud security, making it a critical growth area for the indefinite future. Due to the perceived reliability of future growth, the stock looks ripe for a re-rating. I rate shares a buy.\nCRWD Stock Price\nCRWD almost perfectly shows what can be expected from a high-growth, high volatility stock, as it appears to move sharply higher during bull runs, and sharply lower during corrections as it has as of late.\n\nCRWD has typically traded at egregious multiples which had kept me from meaningfully investing in the name. Now trading just under $200 per share, one must start wondering if there’s even a value proposition here. While CRWD might not be a household name to the common person, it appears to be a household favorite for Wall Street firms as it is some sort of insurance for anyone operating in the cloud. While the stock far from the cheapest name in the tech sector, this may be the time to pounce.\nIs CrowdStrike Overvalued?\nEven after the decline, is CRWD still overvalued? At least judging based on the stock price versus consensus price targets, CRWD is trading at its largest difference in many months.\nSeeking Alpha\nThat is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.\nWhat To Expect After CrowdStrike Earnings\nCRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.\nInvestor Presentation\nThat is no guarantee that CRWD is undervalued, but it gives an indication to the extent that CRWD has fallen amidst the recent market correction.\nWhat To Expect After CrowdStrike Earnings\nCRWD is a best in class cybersecurity firm which has seen its customer base grow 75% year over year.\nInvestor Presentation\nJudging based on the metrics above, it appears that CRWD still has more room to grow even among the largest companies. The more that CRWD continues to take market share in the sector, the easier it becomes to attract new clients due to the powerful brand recognition. If the top companies in your sector are using CrowdStrike and you aren’t, then that may put you at greater risk in the event of a cybersecurity event.\nCRWD has generated strong dollar-based retention rates in excess of its 120% benchmark.\nInvestor Presentation\nCRWD charges on a per-endpoint model, which should help sustain the high dollar-based retention rates as the world continues moving toward a digital world. Combining high dollar-based retention rates with customer growth has helped CRWD grow its annual recurring revenues by 67% in the latest quarter.\nInvestor Presentation\nWhile CRWD is not yet GAAP profitable, it has been consistently achieving operating leverage and is solidly profitable on a non-GAAP basis (the main difference is stock based compensation)\nInvestor Presentation\nIn fact, I suspect that CRWD’s 32% free cash flow margin to be a huge drawing point for investors, as it may be predictive of future operating margins. CRWD’s cash flow generation has helped it amass over $1 billion in net cash. Looking forward, CRWD expects the strong growth to continue, as it expects organizations to steadily increase their spend on cloud security to as much as 10% of its IT budget.\nInvestor Presentation\nThis kind of thinking makes CRWD appear like some sort of insurance for anyone in the cloud, which is arguably a phenomenal place to be in the expense structure. Further, there is the clear implication that CRWD will grow in-line with the growth of data, which is one of the stronger secular growth stories in the market today.\nIs CRWD Stock A Buy, Sell, or Hold?\nThe strong growth, solid cash flow generation, and insurance-like niche all make CRWD look like a safe stock. That safety characteristic has helped it trade at healthy multiples. Even after the recent stock declines, CRWD still trades above 30x sales.\nSeeking Alpha\nWhat is a fair value for the stock? CRWD has guided for long term 20% operating margins.\nInvestor Presentation\nAt the risk of coming off optimistic, I view these targets as being highly sandbagged especially considering that the company is already generating 40% cash flow margins. Nonetheless, I assume 30% long term operating margins (50% seems more reasonable). At recent prices, CRWD is trading at an effective 1.4x price to earnings growth ratio (‘PEG’) based on 2022e sales, and 1.3x PEG based on 2023e sales. Yet those projections for 2022 and 2023 growth seem understated, as CRWD should be able to get to around 20% growth just from dollar-based net retention alone. I expect CRWD to be able to sustain 30+% growth over the next five years at least. With that kind of reliable growth profile, I would expect CRWD to trade closer to a 2x PEG, implying around 40% potential returns over the next 12 months. CRWD isn’t cheap, but the stock looks very buyable on the thesis that its high quality is deserving of higher multiples. I note that such a thesis leaves plenty of room to the downside, as the stock will likely be punished severely in the event that growth estimates fall short or if the company loses its quality luster. That said, the recent broad declines in the tech sector have brought CRWD down to highly reasonable multiples which appear to leave much room to the upside. I rate shares a buy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":659,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":603748682,"gmtCreate":1638456216075,"gmtModify":1638456216075,"author":{"id":"3570333347569010","authorId":"3570333347569010","name":"gurug","avatar":"https://static.tigerbbs.com/28b875422016d24f4fa1ad8dd7657d82","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Today is a very red day all around","listText":"Today is a very red day all around","text":"Today is a very red day all around","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/603748682","repostId":"1139890977","repostType":2,"repost":{"id":"1139890977","pubTimestamp":1638426308,"share":"https://www.laohu8.com/m/news/1139890977?lang=&edition=full","pubTime":"2021-12-02 14:25","market":"us","language":"en","title":"U.S. Stocks’ Wall of Worry Rises Far Beyond the Omicron Variant","url":"https://stock-news.laohu8.com/highlight/detail?id=1139890977","media":"Bloomberg","summary":"Fed rate path, inflation, valuations may all be playing a role\nStock declines are much broader than ","content":"<ul>\n <li>Fed rate path, inflation, valuations may all be playing a role</li>\n <li>Stock declines are much broader than from delta pullback</li>\n</ul>\n<p>Investors are worrying about a lot more than just the omicron variant, if recent market moves are anything to go by.</p>\n<p>While the newly discovered virus strain has been one of the main catalysts for the recent slump in U.S. stocks, action under the surface points to concerns about the Federal Reserve, inflation, valuations, year-end volatility and perhaps even some some profit-taking after a solid year of gains.</p>\n<p>The selloff is the broadest since the worst pandemic fears last year, at least according to a gauget racking shares hitting 52-week lows relative to those at highs.</p>\n<p><img src=\"https://static.tigerbbs.com/0ef9e660ce9da97a30717aa4eda6016f\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>“Both Covid headlines and the perception that the Fed will tighten in the face of a negative shock to the economy are weighing on equities,” said Peter Berezin of BCA Research.</p>\n<p><b>Delta Blues</b></p>\n<p>When the delta variant was emerging as a concern, investors rotated to stay-at-home and defensive growth stocks, and away from reopening shares.</p>\n<p>This time around, a wider swath of the market has suffered -- including technology names that should benefit from further restrictions such as Zoom Video Communications Inc. and Netflix Inc.</p>\n<p>The Nasdaq 100 Index -- which rose 14% during the ‘peak’ delta months of June, July and August -- has fallen 3% since Thanksgiving, when omicron first hit the attention of traders.</p>\n<p>The weakness is especially noticeable as bond yields are falling, a move which usually helps investors justify high-priced valuations for growth stocks though also a signal of concern over the outlook for the economy.</p>\n<p>“The problem is U.S. equity valuations, which have been priced for perfection and now confront a noticeably less-perfect world,” said Nicholas Colas, co-founder of DataTrek Research. “We won’t know much about the latest pandemic variant for a few weeks, and 10-year Treasuries are flashing yellow about future economic growth.”</p>\n<p><img src=\"https://static.tigerbbs.com/d3a39510347b6a47d23a40a72ddb9b9f\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>Investor concern over inflation is still prevalent, especially the worry it will force the Fed to jack up rates sooner-than-expected, putting the pandemic recovery under threat.</p>\n<p>Jerome Powell told Congress this week the Fed will consider ending its asset purchases earlier than planned, tapering the stimulus that has helped fuel this year’s record stock rally.</p>\n<p>“The real issue is the fear of liquidity coming out of the system, not so much the variant,” Alicia Levine, head of equities and capital markets advisory at BNY Mellon Wealth Management, said on Bloomberg Television. Liquidity “has really driven markets for the last 20 months and has made everybody a genius and everybody a winner. Now it’s going to get a little bit more complicated.”</p>\n<p><b>Seasonal Swings</b></p>\n<p>The sharp selloff has blindsided investors contemplating the chances of a year-end rally to cap a stellar 2021 for stocks. The S&P 500 closed at an all-time high on Nov. 18, up almost 27% for the year. It has fallen about 4% since.</p>\n<p>The last month of the year traditionally sees investors dialing back risk and an increase in price swings as trading volumes dry up. Over the last decade, the Cboe Volatility Index has jumped by 12% on average in December.</p>\n<p>“Stock investors’ knee-jerk reaction may continue to be to take profits before the end of the year,” said Ed Yardeni, president of Yardeni Research. “The Santa Claus rally started early this year. The question is whether it is over already.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Stocks’ Wall of Worry Rises Far Beyond the Omicron Variant</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. Stocks’ Wall of Worry Rises Far Beyond the Omicron Variant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-02 14:25 GMT+8 <a href=https://www.bloomberg.com/news/articles/2021-12-02/u-s-stocks-wall-of-worry-rises-far-beyond-the-omicron-variant><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fed rate path, inflation, valuations may all be playing a role\nStock declines are much broader than from delta pullback\n\nInvestors are worrying about a lot more than just the omicron variant, if ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-12-02/u-s-stocks-wall-of-worry-rises-far-beyond-the-omicron-variant\">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"},"source_url":"https://www.bloomberg.com/news/articles/2021-12-02/u-s-stocks-wall-of-worry-rises-far-beyond-the-omicron-variant","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139890977","content_text":"Fed rate path, inflation, valuations may all be playing a role\nStock declines are much broader than from delta pullback\n\nInvestors are worrying about a lot more than just the omicron variant, if recent market moves are anything to go by.\nWhile the newly discovered virus strain has been one of the main catalysts for the recent slump in U.S. stocks, action under the surface points to concerns about the Federal Reserve, inflation, valuations, year-end volatility and perhaps even some some profit-taking after a solid year of gains.\nThe selloff is the broadest since the worst pandemic fears last year, at least according to a gauget racking shares hitting 52-week lows relative to those at highs.\n\n“Both Covid headlines and the perception that the Fed will tighten in the face of a negative shock to the economy are weighing on equities,” said Peter Berezin of BCA Research.\nDelta Blues\nWhen the delta variant was emerging as a concern, investors rotated to stay-at-home and defensive growth stocks, and away from reopening shares.\nThis time around, a wider swath of the market has suffered -- including technology names that should benefit from further restrictions such as Zoom Video Communications Inc. and Netflix Inc.\nThe Nasdaq 100 Index -- which rose 14% during the ‘peak’ delta months of June, July and August -- has fallen 3% since Thanksgiving, when omicron first hit the attention of traders.\nThe weakness is especially noticeable as bond yields are falling, a move which usually helps investors justify high-priced valuations for growth stocks though also a signal of concern over the outlook for the economy.\n“The problem is U.S. equity valuations, which have been priced for perfection and now confront a noticeably less-perfect world,” said Nicholas Colas, co-founder of DataTrek Research. “We won’t know much about the latest pandemic variant for a few weeks, and 10-year Treasuries are flashing yellow about future economic growth.”\n\nInvestor concern over inflation is still prevalent, especially the worry it will force the Fed to jack up rates sooner-than-expected, putting the pandemic recovery under threat.\nJerome Powell told Congress this week the Fed will consider ending its asset purchases earlier than planned, tapering the stimulus that has helped fuel this year’s record stock rally.\n“The real issue is the fear of liquidity coming out of the system, not so much the variant,” Alicia Levine, head of equities and capital markets advisory at BNY Mellon Wealth Management, said on Bloomberg Television. Liquidity “has really driven markets for the last 20 months and has made everybody a genius and everybody a winner. Now it’s going to get a little bit more complicated.”\nSeasonal Swings\nThe sharp selloff has blindsided investors contemplating the chances of a year-end rally to cap a stellar 2021 for stocks. The S&P 500 closed at an all-time high on Nov. 18, up almost 27% for the year. It has fallen about 4% since.\nThe last month of the year traditionally sees investors dialing back risk and an increase in price swings as trading volumes dry up. Over the last decade, the Cboe Volatility Index has jumped by 12% on average in December.\n“Stock investors’ knee-jerk reaction may continue to be to take profits before the end of the year,” said Ed Yardeni, president of Yardeni Research. “The Santa Claus rally started early this year. The question is whether it is over already.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606212203,"gmtCreate":1638884538172,"gmtModify":1638884538172,"author":{"id":"3570333347569010","authorId":"3570333347569010","name":"gurug","avatar":"https://static.tigerbbs.com/28b875422016d24f4fa1ad8dd7657d82","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/606212203","repostId":"1171622002","repostType":4,"repost":{"id":"1171622002","pubTimestamp":1638883517,"share":"https://www.laohu8.com/m/news/1171622002?lang=&edition=full","pubTime":"2021-12-07 21:25","market":"us","language":"en","title":"The Ugly Truth About Market Bubbles Is That Everyone Loses","url":"https://stock-news.laohu8.com/highlight/detail?id=1171622002","media":"Bloomberg","summary":"The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too l","content":"<p>The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too long at the party.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc1d6b85b669c546b0c3820b4be94a95\" tg-width=\"594\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Bubbles tend to disappoint everyone. Photographer: Peter Macdiarmid/Getty Images</span></p>\n<p>I was chatting a few days ago with one of the smartest hedge fund managers I know. We were talking about the recent carnage in unprofitable tech “dream” stocks, and he reminded me of a time many have forgotten. “From 1995 to 2000, I watched some of the shrewdest managers get annihilated shorting the dot-com bubble,” he said. “By the end, they all went out of business. I then watched the next five years destroy all the long managers who had ridden the euphoria to the upside, until most of the aggressive ones were also sent packing.”</p>\n<p><img src=\"https://static.tigerbbs.com/4dd4c749c67d61c23949a7f474c2d4b9\" tg-width=\"952\" tg-height=\"580\" width=\"100%\" height=\"auto\"></p>\n<p>In hindsight, bubbles always seem obvious and easy to trade. As someone who has experienced more of these than I care to remember, I assure you they are not. Take the mid-2000s real estate episode. With movies such as the “Big Short,”and glowing newspaper articles about hedge fund managers who made fortunes profiting from the real estate collapse, it seems like opportunity was everywhere.</p>\n<p>What we forget is that these trades were successful because so few believed they could happen. I can’t tell you the number of times a young trader tells me, “I wish I had been around back then, ‘cause I would have made a killing!” What they don’t understand is that, in the moment, bubbles are extremely difficult to identify. They are even tougher to trade.</p>\n<p>I’ll never forget trying to take advantage of the real estate mania in 2005. I thought the sector was wildly overpriced. That February, when it appeared the homebuilders had topped and started to roll over, I shorted a basket of homebuilder stocks. The trade worked until April. Then, much to the surprise of the bears, homebuilder shares ripped higher by 35% in the space of two months, and I got shaken out of my short positions.</p>\n<p><img src=\"https://static.tigerbbs.com/e51f2f747898fa96b050df63f1331cf3\" tg-width=\"962\" tg-height=\"543\" width=\"100%\" height=\"auto\"></p>\n<p>The ugly truth about bubbles is that both the bears and the bulls end up losing. The bears are inevitably too early, and by the time the market rolls over, the vast majority have given up. The bulls, who have been conditioned to buy every dip, stay at the party much too late.</p>\n<p>Bubbles used to be rare and encompass entire asset classes. But markets have evolved. Even back almost a decade ago it wasn’t hard to see how the proliferation of hedge funds had decreased the amount of available “alpha,”creating an environment prone to a series of rolling mini-bubbles. As sophisticated investors deployed capital into themes or sectors, the price action encouraged momentum-chasers. This affirmed the belief that the fundamental investors were on to something, causing more buying and resulting in a positive feedback loop.</p>\n<p>Then Covid-19 hit and mini-bubbles became perversely extreme. At the March 2020 crisis bottom, the Goldman Sachs Non-Profitable Technology Index had fallen 40%, attracting short sellers. Then, over the summer, the basket of shares rallied 38% and financial airwaves were filled with gurus like Chamath Palihapitiya and Cathie Wood espousing the virtues of these new technology marvels. And, just like previous bubbles, even the skeptics eventually feared shorting due to the violent rallies. Some 11 months later, this group of stocks had risen an astonishing 478%.</p>\n<p><img src=\"https://static.tigerbbs.com/9f103858e403af7f2a092fa64d7e3724\" tg-width=\"958\" tg-height=\"555\" width=\"100%\" height=\"auto\"></p>\n<p>And yet, here we are. The index has declined 41% from the 2021 high. Surely, there are individual “rock star” investors who made money, but as a group, both the bulls and bears have been beaten up. Most of the vocal bears have stopped forecasting a decline, while the majority of bulls remain long even though many are now underwater on their trades.</p>\n<p>I don’t know the direction of this sector over the short-run, but experience tells me it is a painful bear market with face-ripping rallies that lure bulls back in and forces bears to cover their bets before it resumes its relentless march lower.</p>\n<p>Years from now, with the benefit of hindsight, it will seem obvious these stocks were wildly overvalued. The few investors smart enough to get out at the top, or lean into the short side on the way down, will be celebrated. It will all seem so easy. Yet, in the midst of the actual event, it is anything but.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Ugly Truth About Market Bubbles Is That Everyone Loses</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\">\nThe Ugly Truth About Market Bubbles Is That Everyone Loses\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 21:25 GMT+8 <a href=https://www.bloomberg.com/opinion/articles/2021-12-07/stock-market-the-ugly-truth-about-bubbles-is-everyone-loses?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too long at the party.\nBubbles tend to disappoint everyone. Photographer: Peter Macdiarmid/Getty Images\nI...</p>\n\n<a href=\"https://www.bloomberg.com/opinion/articles/2021-12-07/stock-market-the-ugly-truth-about-bubbles-is-everyone-loses?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/opinion/articles/2021-12-07/stock-market-the-ugly-truth-about-bubbles-is-everyone-loses?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171622002","content_text":"The bears are always too early and the bulls, who have been conditioned to buy every dip, stay too long at the party.\nBubbles tend to disappoint everyone. Photographer: Peter Macdiarmid/Getty Images\nI was chatting a few days ago with one of the smartest hedge fund managers I know. We were talking about the recent carnage in unprofitable tech “dream” stocks, and he reminded me of a time many have forgotten. “From 1995 to 2000, I watched some of the shrewdest managers get annihilated shorting the dot-com bubble,” he said. “By the end, they all went out of business. I then watched the next five years destroy all the long managers who had ridden the euphoria to the upside, until most of the aggressive ones were also sent packing.”\n\nIn hindsight, bubbles always seem obvious and easy to trade. As someone who has experienced more of these than I care to remember, I assure you they are not. Take the mid-2000s real estate episode. With movies such as the “Big Short,”and glowing newspaper articles about hedge fund managers who made fortunes profiting from the real estate collapse, it seems like opportunity was everywhere.\nWhat we forget is that these trades were successful because so few believed they could happen. I can’t tell you the number of times a young trader tells me, “I wish I had been around back then, ‘cause I would have made a killing!” What they don’t understand is that, in the moment, bubbles are extremely difficult to identify. They are even tougher to trade.\nI’ll never forget trying to take advantage of the real estate mania in 2005. I thought the sector was wildly overpriced. That February, when it appeared the homebuilders had topped and started to roll over, I shorted a basket of homebuilder stocks. The trade worked until April. Then, much to the surprise of the bears, homebuilder shares ripped higher by 35% in the space of two months, and I got shaken out of my short positions.\n\nThe ugly truth about bubbles is that both the bears and the bulls end up losing. The bears are inevitably too early, and by the time the market rolls over, the vast majority have given up. The bulls, who have been conditioned to buy every dip, stay at the party much too late.\nBubbles used to be rare and encompass entire asset classes. But markets have evolved. Even back almost a decade ago it wasn’t hard to see how the proliferation of hedge funds had decreased the amount of available “alpha,”creating an environment prone to a series of rolling mini-bubbles. As sophisticated investors deployed capital into themes or sectors, the price action encouraged momentum-chasers. This affirmed the belief that the fundamental investors were on to something, causing more buying and resulting in a positive feedback loop.\nThen Covid-19 hit and mini-bubbles became perversely extreme. At the March 2020 crisis bottom, the Goldman Sachs Non-Profitable Technology Index had fallen 40%, attracting short sellers. Then, over the summer, the basket of shares rallied 38% and financial airwaves were filled with gurus like Chamath Palihapitiya and Cathie Wood espousing the virtues of these new technology marvels. And, just like previous bubbles, even the skeptics eventually feared shorting due to the violent rallies. Some 11 months later, this group of stocks had risen an astonishing 478%.\n\nAnd yet, here we are. The index has declined 41% from the 2021 high. Surely, there are individual “rock star” investors who made money, but as a group, both the bulls and bears have been beaten up. Most of the vocal bears have stopped forecasting a decline, while the majority of bulls remain long even though many are now underwater on their trades.\nI don’t know the direction of this sector over the short-run, but experience tells me it is a painful bear market with face-ripping rallies that lure bulls back in and forces bears to cover their bets before it resumes its relentless march lower.\nYears from now, with the benefit of hindsight, it will seem obvious these stocks were wildly overvalued. The few investors smart enough to get out at the top, or lean into the short side on the way down, will be celebrated. It will all seem so easy. Yet, in the midst of the actual event, it is anything but.","news_type":1},"isVote":1,"tweetType":1,"viewCount":747,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606212602,"gmtCreate":1638884528211,"gmtModify":1638884528211,"author":{"id":"3570333347569010","authorId":"3570333347569010","name":"gurug","avatar":"https://static.tigerbbs.com/28b875422016d24f4fa1ad8dd7657d82","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/606212602","repostId":"1104830433","repostType":4,"repost":{"id":"1104830433","pubTimestamp":1638884245,"share":"https://www.laohu8.com/m/news/1104830433?lang=&edition=full","pubTime":"2021-12-07 21:37","market":"us","language":"en","title":"GameStop Reports Earnings on Wednesday. What to Expect.","url":"https://stock-news.laohu8.com/highlight/detail?id=1104830433","media":"Barrons","summary":"GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the","content":"<p>GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the fourth earnings call since Chewy co-founder Ryan Cohen joined GameStop’s board, analysts are still waiting for a substantial update on management’s turnaround efforts.</p>\n<p>Since shares exploded in January, GameStop (ticker: GME) executives have kept earnings calls limited to prepared to remarks, with no question and answer session with analysts. Wedbush analyst Michael Pachter told <i>Barron’s</i> he expects the company to hold another brief earnings call.</p>\n<p>Analysts—well, the remaining four still providing FactSet with GameStop estimates—expect the company to report a fiscal third-quarter adjusted net loss of 52 cents a share with sales of $1.19 billion. That’s compared to a net loss of 76 cents a share and sales of $1.18 billion in the second quarter.</p>\n<p>“Until supply of consoles improves, it’s going to be hard to see a marked improvement in their business,” Pachter says.</p>\n<p>GameStop stock closed down 3.1% to $167.12 on Monday. Shares, supported by retail investors who organize on social media sites like Reddit, have traded rangebound for much of this year. The stock’s highest close in six months was $302.56 on June 9, just before the company reported fiscal first-quarter results. Its lowest close in that period was $146.80 on Aug. 4.</p>\n<p>The company has announced plans to invest in e-commerce fulfillment capabilities and customer care efforts.Chewy (CHWY), the pet supply firm Cohen co-founded, outmaneuvered Amazon.com (AMZN) in that niche, in part because of its stellar customer care.</p>\n<p>Cohen has kept mostly mum, aside from cryptic posts on Twitter and a shareholder address in June after becoming the board’s chairman.</p>\n<p>“I think it probably is important to the Reddit crowd, but he doesn’t seem to experience any sense of urgency to let them know what his strategy is,” Pachter said. “There is a rational explanation, which is that there is no strategy.”</p>\n<p>Users on Reddit have speculated, pointing to GameStop job postings and other online breadcrumbs, that the company is planning a major play in the non-fungible token space. A GameStop NFT launch could inspire renewed optimism for the stock, but extrapolating any impact on the company’s fundamental prospects would be highly speculative.</p>\n<p>Still, shares aren’t primed for a short squeeze in the same way they were in January. Ihor Dusaniwsky, managing director at short-selling analytics firm S3 Partners, estimates that as of Friday, GameStop’s short interest was $1.18 billion, or 6.8 million shares shorted. That’s roughly 10.9% of shares available for trading.</p>\n<p>Most traditional buy and hold investors penciled out GameStop, and other meme stocks, months ago. That doesn’t make the earnings report, and the potential stock reaction, any less interesting.</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>GameStop Reports Earnings on Wednesday. What to Expect.</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\">\nGameStop Reports Earnings on Wednesday. What to Expect.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-07 21:37 GMT+8 <a href=https://www.barrons.com/articles/gamestop-earnings-stock-price-what-to-expect-51638838178?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the fourth earnings call since Chewy co-founder Ryan Cohen joined GameStop’s board, analysts are still ...</p>\n\n<a href=\"https://www.barrons.com/articles/gamestop-earnings-stock-price-what-to-expect-51638838178?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":{"GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/gamestop-earnings-stock-price-what-to-expect-51638838178?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104830433","content_text":"GameStop is set to report fiscal third-quarter results after the market closes on Wednesday. For the fourth earnings call since Chewy co-founder Ryan Cohen joined GameStop’s board, analysts are still waiting for a substantial update on management’s turnaround efforts.\nSince shares exploded in January, GameStop (ticker: GME) executives have kept earnings calls limited to prepared to remarks, with no question and answer session with analysts. Wedbush analyst Michael Pachter told Barron’s he expects the company to hold another brief earnings call.\nAnalysts—well, the remaining four still providing FactSet with GameStop estimates—expect the company to report a fiscal third-quarter adjusted net loss of 52 cents a share with sales of $1.19 billion. That’s compared to a net loss of 76 cents a share and sales of $1.18 billion in the second quarter.\n“Until supply of consoles improves, it’s going to be hard to see a marked improvement in their business,” Pachter says.\nGameStop stock closed down 3.1% to $167.12 on Monday. Shares, supported by retail investors who organize on social media sites like Reddit, have traded rangebound for much of this year. The stock’s highest close in six months was $302.56 on June 9, just before the company reported fiscal first-quarter results. Its lowest close in that period was $146.80 on Aug. 4.\nThe company has announced plans to invest in e-commerce fulfillment capabilities and customer care efforts.Chewy (CHWY), the pet supply firm Cohen co-founded, outmaneuvered Amazon.com (AMZN) in that niche, in part because of its stellar customer care.\nCohen has kept mostly mum, aside from cryptic posts on Twitter and a shareholder address in June after becoming the board’s chairman.\n“I think it probably is important to the Reddit crowd, but he doesn’t seem to experience any sense of urgency to let them know what his strategy is,” Pachter said. “There is a rational explanation, which is that there is no strategy.”\nUsers on Reddit have speculated, pointing to GameStop job postings and other online breadcrumbs, that the company is planning a major play in the non-fungible token space. A GameStop NFT launch could inspire renewed optimism for the stock, but extrapolating any impact on the company’s fundamental prospects would be highly speculative.\nStill, shares aren’t primed for a short squeeze in the same way they were in January. Ihor Dusaniwsky, managing director at short-selling analytics firm S3 Partners, estimates that as of Friday, GameStop’s short interest was $1.18 billion, or 6.8 million shares shorted. That’s roughly 10.9% of shares available for trading.\nMost traditional buy and hold investors penciled out GameStop, and other meme stocks, months ago. That doesn’t make the earnings report, and the potential stock reaction, any less interesting.","news_type":1},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}
