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46afca07

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2021-08-12

can

@爱上趋势股:万亿基建通过：中美光伏战役正式打响！

2021-08-05

Nice

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2021-08-04

Hello

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2021-08-03

Ok

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2021-07-31

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You can beat stock market indexes — this fund manager has, and this is how she and her team did it

2021-07-30

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2021-07-27

Hello

Amazon denies report of accepting bitcoin as payment

2021-07-26

Alright

PropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel

2021-07-25

Hello

Will Square Be Worth More Than PayPal by 2025?

2021-07-24

Yes

Tencent was ordered to remove the exclusive copyright of online music

2021-07-21

Hi

Revolut Becomes UK's Biggest Unicorn

2021-07-20

Yo

Peloton Rises, Reportedly Plans In-App Videogame

2021-07-18

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Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World

2021-07-17

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Investors Feel Almost No Risk Of Long-Term U.S. Stock Market Downside

2021-07-16

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2021-07-15

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Plant-based chicken meat company in Singapore secures funds to enter US

2021-07-14

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2021-07-13

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How earnings season is likely to play out in the coming weeks and its impact on the stock market

2021-07-11

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PepsiCo Reports Earnings Next Week. Buy the Stock Now, Analyst Says.

2021-07-09

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Treasury yields rise but the 30-year rate remains below 1.30%

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"listText":"can","text":"can","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895254385","repostId":"892577753","repostType":1,"repost":{"id":892577753,"gmtCreate":1628678834469,"gmtModify":1628681531295,"author":{"id":"3502860692623653","authorId":"3502860692623653","name":"爱上趋势股","avatar":"https://static.tigerbbs.com/17f4521614b0cae62aff9fa7fa80fa77","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3502860692623653","authorIdStr":"3502860692623653"},"themes":[],"title":"万亿基建通过：中美光伏战役正式打响！","htmlText":"关于美国大基建我已经写过两篇文章了。 最早一篇是3月写的：<a href=\"https://laohu8.com/TW/355053283\" target=\"_blank\">美国“洪水四溢”，大基建势在必行！</a> 我预示了两个观点，一是美国通胀将会爆发，二是美国基建法案必然会通过。 如今看，两个预言都已成真。 按照当时的逻辑，重点推荐了: <a target=\"_blank\" href=\"https://laohu8.com/S/X\">$美国钢铁(X)$</a>，从20涨到了28，涨幅40%。 <a target=\"_blank\" href=\"https://laohu8.com/S/AA\">$美国铝业(AA)$</a> ，从30涨到了44，涨幅46%。 第二篇，5月份写的：<a href=\"https://laohu8.com/TW/190872054\" target=\"_blank\">别盯着特斯拉、蔚来了，美国钢铁都涨上天了！</a> 还是反复强调钢铁、建材等基建的投资机会，这次主要提到的是<a target=\"_blank\" href=\"https://laohu8.com/S/NUE\">$纽柯钢铁(NUE)$</a> ,后来它从95涨到了118，涨幅24%。 今天，不说钢铁了，咱们聊聊其他的投资机会。 01先简述一下，昨天通过的是拜登的1.2万亿基建法案，这里面有5500亿将投入到基础设施的建设中。 具体包括： 1100亿美元，用于修建道路、桥梁； 660亿美元，用于修建铁路； 400亿美元，用于公共交通投资； 650亿美元，用于网络基建投资； 650亿美元，用于改善发电设施； 500亿美元，用于提升应对自然灾害和网络安全攻击的能力； 75亿美元，用于新建电动车充电站； 75亿美元，用于采购低排放产品、置换现有的校车和轮渡。 拜登还有一份3.5万亿美元投资法案，","listText":"关于美国大基建我已经写过两篇文章了。 最早一篇是3月写的：<a href=\"https://laohu8.com/TW/355053283\" target=\"_blank\">美国“洪水四溢”，大基建势在必行！</a> 我预示了两个观点，一是美国通胀将会爆发，二是美国基建法案必然会通过。 如今看，两个预言都已成真。 按照当时的逻辑，重点推荐了: <a target=\"_blank\" href=\"https://laohu8.com/S/X\">$美国钢铁(X)$</a>，从20涨到了28，涨幅40%。 <a target=\"_blank\" href=\"https://laohu8.com/S/AA\">$美国铝业(AA)$</a> ，从30涨到了44，涨幅46%。 第二篇，5月份写的：<a href=\"https://laohu8.com/TW/190872054\" target=\"_blank\">别盯着特斯拉、蔚来了，美国钢铁都涨上天了！</a> 还是反复强调钢铁、建材等基建的投资机会，这次主要提到的是<a target=\"_blank\" href=\"https://laohu8.com/S/NUE\">$纽柯钢铁(NUE)$</a> ,后来它从95涨到了118，涨幅24%。 今天，不说钢铁了，咱们聊聊其他的投资机会。 01先简述一下，昨天通过的是拜登的1.2万亿基建法案，这里面有5500亿将投入到基础设施的建设中。 具体包括： 1100亿美元，用于修建道路、桥梁； 660亿美元，用于修建铁路； 400亿美元，用于公共交通投资； 650亿美元，用于网络基建投资； 650亿美元，用于改善发电设施； 500亿美元，用于提升应对自然灾害和网络安全攻击的能力； 75亿美元，用于新建电动车充电站； 75亿美元，用于采购低排放产品、置换现有的校车和轮渡。 拜登还有一份3.5万亿美元投资法案，","text":"关于美国大基建我已经写过两篇文章了。 最早一篇是3月写的：美国“洪水四溢”，大基建势在必行！ 我预示了两个观点，一是美国通胀将会爆发，二是美国基建法案必然会通过。 如今看，两个预言都已成真。 按照当时的逻辑，重点推荐了: $美国钢铁(X)$，从20涨到了28，涨幅40%。 $美国铝业(AA)$ ，从30涨到了44，涨幅46%。 第二篇，5月份写的：别盯着特斯拉、蔚来了，美国钢铁都涨上天了！ 还是反复强调钢铁、建材等基建的投资机会，这次主要提到的是$纽柯钢铁(NUE)$ ,后来它从95涨到了118，涨幅24%。 今天，不说钢铁了，咱们聊聊其他的投资机会。 01先简述一下，昨天通过的是拜登的1.2万亿基建法案，这里面有5500亿将投入到基础设施的建设中。 具体包括： 1100亿美元，用于修建道路、桥梁； 660亿美元，用于修建铁路； 400亿美元，用于公共交通投资； 650亿美元，用于网络基建投资； 650亿美元，用于改善发电设施； 500亿美元，用于提升应对自然灾害和网络安全攻击的能力； 75亿美元，用于新建电动车充电站； 75亿美元，用于采购低排放产品、置换现有的校车和轮渡。 拜登还有一份3.5万亿美元投资法案，","images":[{"img":"https://static.tigerbbs.com/7a55c153839b69b47e69b76d078d4eda","width":"951","height":"606"},{"img":"https://static.tigerbbs.com/04f9eb6f4d35bd6acd070a39b7691ffc","width":"558","height":"315"},{"img":"https://static.tigerbbs.com/e071662c7a35cf5cda250c0ee670db5e","width":"840","height":"470"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/892577753","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":6,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899145214,"gmtCreate":1628171266838,"gmtModify":1631890801666,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/899145214","repostId":"2157439561","repostType":4,"isVote":1,"tweetType":1,"viewCount":306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890943757,"gmtCreate":1628079571879,"gmtModify":1631890801669,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890943757","repostId":"1115159207","repostType":4,"isVote":1,"tweetType":1,"viewCount":278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804225605,"gmtCreate":1627959507207,"gmtModify":1631890801672,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804225605","repostId":"1171705978","repostType":4,"isVote":1,"tweetType":1,"viewCount":130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802140569,"gmtCreate":1627740047751,"gmtModify":1631890801677,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802140569","repostId":"1147779023","repostType":4,"repost":{"id":"1147779023","kind":"news","pubTimestamp":1627716124,"share":"https://www.laohu8.com/m/news/1147779023?lang=&edition=full","pubTime":"2021-07-31 15:22","market":"us","language":"en","title":"You can beat stock market indexes — this fund manager has, and this is how she and her team did it","url":"https://stock-news.laohu8.com/highlight/detail?id=1147779023","media":"MarketWatch","summary":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fu","content":"<blockquote>\n <b>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.</b>\n</blockquote>\n<p>Investing is a tough game. That’s why so many mutual funds lag behind their indices.</p>\n<p>So when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.</p>\n<p>The American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth&nbsp;Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.</p>\n<p>The fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.</p>\n<p>Here are the five key takeaways, with examples of specific stocks.</p>\n<p><b>1. Own companies that can “land and expand” in big markets</b></p>\n<p>Even though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.</p>\n<p>Bill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.</p>\n<p>Bill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.</p>\n<p>“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.</p>\n<p>Founder-run companies such as this one are worth considering because they often outperform.</p>\n<p><b>2. Seek out innovators</b></p>\n<p>Ram’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.</p>\n<p>Back in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.</p>\n<p>Boston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.</p>\n<p>“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”</p>\n<p>This penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.</p>\n<p>A key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.</p>\n<p>They’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.</p>\n<p>But don’t count out this innovator yet.</p>\n<p>“We recently announced plans to develop new innovative beverages with&nbsp;Beam Suntory&nbsp;that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory&nbsp;sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”</p>\n<p><b>3. Look for companies that can create and dominate a niche</b></p>\n<p>For years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.</p>\n<p>This is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.</p>\n<p><b>4. Buy companies in the early stages of rapid growth</b></p>\n<p>One way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.</p>\n<p>Alnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.</p>\n<p>“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”</p>\n<p><b>5. Hold stocks for the long term</b></p>\n<p>All of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>You can beat stock market indexes — this fund manager has, and this is how she and her team did it</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\">\nYou can beat stock market indexes — this fund manager has, and this is how she and her team did it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-31 15:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when ...</p>\n\n<a href=\"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/you-can-beat-stock-market-indexes-this-fund-manager-has-and-this-is-how-she-and-her-team-did-it-11627481445?mod=article_inline","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147779023","content_text":"Five key lessons on outperformance from Prabha Ram at the American Century Focused Dynamic Growth Fund.\n\nInvesting is a tough game. That’s why so many mutual funds lag behind their indices.\nSo when you find a fund with a great record, it pays to investigate what the fund managers are doing — to learn some lessons.\nThe American Century Focused Dynamic Growth FundACFSXfits the bill. The $2.8 billion fund beats its Russell 1000 Growth Index by over 6 percentage points annualized over the past three and five years, according toMorningstar. It outperforms its large-growth category by 8.6 percentage points annualized over five years. It has a reasonable 0.65% expense ratio.\nThe fund is co-managed by Prabha Ram, who I recently caught up with. Raised in India, Ram came to the U.S. as a teaching assistant at the University of Maine, where she earned a master’s degree in computer science. She went on to receive an MBA at the Wharton School at the University of Pennsylvania. Ram and three other portfolio managers have led this fund since 2016.\nHere are the five key takeaways, with examples of specific stocks.\n1. Own companies that can “land and expand” in big markets\nEven though we’ve been in the digital age for years, many small companies still do much of their business on paper. Bill.comBILLwants to change that. The company was founded by CEO René Lacerte, who in the late 1990s started the online payroll company PayCycle, which was acquired by Intuit.\nBill.com helps small companies go digital in accounts payable and receivable payments. But that’s just the start. Once inside a company, Bill.com digitizes other areas like cash and expense account management.\nBill.com “lands and expands” at clients, but it also uses their business partners to create a network of leads.\n“Every vendor is a network member, even if it is not a Bill.com customer,” says Ram. This network has about 2.5 million members. Bill.com also gets prospects from its partners, including Bank of AmericaBAC,JPMorgan ChaseJPMand American ExpressAXP.Sales grew 45% in the first quarter.\nFounder-run companies such as this one are worth considering because they often outperform.\n2. Seek out innovators\nRam’s portfolio contains obvious innovators, including TeslaTSLA,Amazon.comAMZNand AlphabetGOOGL,her top three positions. Let’s look beyond technology — to beer.\nBack in the 1980s, Boston Beer founder Jim Koch began taking share from beer giants Anheuser-Busch InBevBUDand HeinekenHEINYby rolling out successful “craft” brews, starting with Samuel Adams. Koch helped invent the craft brew category, essentially taking the country back to pre-Prohibition days when the U.S. had hundreds of regional breweries making more flavorful beers for local tastes.\nBoston Beer stock did very well, but then it stalled during 2015-2017 as beer sales overall went flat. In response, Boston Beer helped put a new category on the map — with its Truly Hard Seltzer brand rolled out in 2106. It remains one of the leading hard seltzers.\n“We were drawn to the company because of its history of innovation,” says Ram, referring to her fund’s early position from the second quarter of 2016. “The stock was doing poorly because the beer market was flattening, but they were coming up with Truly Hard Seltzer. Truly was more successful than we anticipated. It created a new category.”\nThis penchant for innovation at Boston Beer has helped keep Ram’s fund in the name. Other successful Boston Beer brands include Twisted Tea, Angry Orchard and Dogfish Head.\nA key takeaway here is that to find innovative companies, look for the ones led by people who have demonstrated a knack for innovation in the past. Innovative managers tend to keep on innovating. Boston Beer continually tests new seltzers, beers, hard ciders, distilled spirits and other drinks. Shareholders are betting they will come through again.\nThey’ll need the help. Boston Beer shares fell 20% on July 23 because so many competitors entered the hard cider niche. Sales grew 33% but net income fell 1.6% as the company jacked up advertising costs to try to combat the competition. The company slashed estimates for the year on an expected slowdown in sales growth.\nBut don’t count out this innovator yet.\n“We recently announced plans to develop new innovative beverages with Beam Suntory that we are planning to launch in early 2022,” Boston Beer’s Koch said. Beam Suntory sells Jim Beam whiskey and other brands of spirits. “We believe these new beverages will further demonstrate our ability to innovate and grow our business as drinker preferences evolve.”\n3. Look for companies that can create and dominate a niche\nFor years as the gig economy emerged, the big credit card companies didn’t really care that much if the local yoga instructor could accept payments with a credit card. SquareSQrecognized this as an opportunity. So it launched its card payment device business in 2009. Since then, it has grown by taking on larger customers, and expanding into new lines of business in financial services such as cash management, debit cards loans and tax filing. Transaction-based revenue grew 27% in the first quarter, and subscription and services revenue soared 88%.\nThis is a great example of a company that created a business niche. But it’s also a “land and expand” company because it grows by offering customers new services. Both qualities help companies maintain the competitive advantage Ram likes see in investments.\n4. Buy companies in the early stages of rapid growth\nOne way to find these is to identify companies developing products that will transform an entire industry. Ram thinks that is the case with Alnylam PharmaceuticalsALNY.It’s developing novel therapies base on a technique called RNA interference (RNAi). Inside the body, messenger RNA (mRNA) encodes proteins we need, based on signals from RNA. Sometimes mRNA gets the signals crossed, and it encodes flawed proteins. This causes diseases.\nAlnylam has developed a way to tweak the RNAi pathway to silence the flawed signaling and block the creation of disease-causing proteins. So far, Alnylam has four approved RNAi-based medicines that treat rare hereditary diseases. The company has a dozen other therapies in clinical studies, including six in late-stage development.\n“This is a completely new area of therapeutics,” says Ram. “It is a platform of products that can treat a variety of conditions.”\n5. Hold stocks for the long term\nAll of the names above are large positions in Ram’s fund, which tells me that Ram and her team think they have considerably more upside. If you buy any of them, though, remember you have to do so with a multi-year time horizon. That’s what Ram’s fund does. It has a low annual portfolio turnover of 27%. It’s important to have a long-term view, because it is so tough to call short-term moves in the stock market or in stocks, and you need to give companies time to develop.","news_type":1},"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808437964,"gmtCreate":1627605514158,"gmtModify":1631890801678,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808437964","repostId":"2155840271","repostType":4,"isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809155494,"gmtCreate":1627354205218,"gmtModify":1631890801683,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809155494","repostId":"2154720964","repostType":4,"repost":{"id":"2154720964","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627341341,"share":"https://www.laohu8.com/m/news/2154720964?lang=&edition=full","pubTime":"2021-07-27 07:15","market":"us","language":"en","title":"Amazon denies report of accepting bitcoin as payment","url":"https://stock-news.laohu8.com/highlight/detail?id=2154720964","media":"Reuters","summary":"July 26 (Reuters) - Amazon.com Inc on Monday denied a media report saying the e-commerce giant was l","content":"<p>July 26 (Reuters) - Amazon.com Inc on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.</p>\n<p>The report from London's City A.M. newspaper, citing an unnamed \"insider\", sent the world's biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04.</p>\n<p>\"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,\" said a spokesperson from Amazon.</p>\n<p>\"We remain focused on exploring what this could look like for customers shopping on Amazon.\"</p>\n<p>The company on July 22 posted a job opening for a digital currency and blockchain product lead.</p>\n<p>A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.</p>\n<p>Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.</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>Amazon denies report of accepting bitcoin as payment</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\">\nAmazon denies report of accepting bitcoin as payment\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-27 07:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>July 26 (Reuters) - Amazon.com Inc on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.</p>\n<p>The report from London's City A.M. newspaper, citing an unnamed \"insider\", sent the world's biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04.</p>\n<p>\"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,\" said a spokesperson from Amazon.</p>\n<p>\"We remain focused on exploring what this could look like for customers shopping on Amazon.\"</p>\n<p>The company on July 22 posted a job opening for a digital currency and blockchain product lead.</p>\n<p>A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.</p>\n<p>Last week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","QNETCN":"纳斯达克中美互联网老虎指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154720964","content_text":"July 26 (Reuters) - Amazon.com Inc on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.\nThe report from London's City A.M. newspaper, citing an unnamed \"insider\", sent the world's biggest cryptocurrency up as much as 14.5% before it trimmed gains to last trade 6% higher at $37,684.04.\n\"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,\" said a spokesperson from Amazon.\n\"We remain focused on exploring what this could look like for customers shopping on Amazon.\"\nThe company on July 22 posted a job opening for a digital currency and blockchain product lead.\nA growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.\nLast week, Tesla Inc Chief Executive Officer Elon Musk said the electric-car maker will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177424873,"gmtCreate":1627258588492,"gmtModify":1631890801685,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Alright","listText":"Alright","text":"Alright","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177424873","repostId":"2153354629","repostType":4,"repost":{"id":"2153354629","kind":"news","pubTimestamp":1627256716,"share":"https://www.laohu8.com/m/news/2153354629?lang=&edition=full","pubTime":"2021-07-26 07:45","market":"us","language":"en","title":"PropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel","url":"https://stock-news.laohu8.com/highlight/detail?id=2153354629","media":"Reuters","summary":"July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public","content":"<p>July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public through a merger with a blank-check firm backed by billionaires Richard Li and Peter Thiel, giving the combined company an equity value of about $1.78 billion.</p>\n<p>The deal with Bridgetown 2 Holdings, a special purpose acquisition company (SPAC), is expected to fetch proceeds of $431 million, including a private investment of $100 million from Baillie Gifford, Naya, REA Group, Akaris Global Partners, and <a href=\"https://laohu8.com/S/AONE.U\">one</a> of Malaysia's largest asset managers.</p>\n<p>Australia's REA Group has also committed to an additional $32 million investment, PropertyGuru said.</p>\n<p>The combined company will be listed on the New York Stock Exchange once the deal is finalised, PropertyGuru said in a statement.</p>\n<p>The transaction is a major development for PropertyGuru which had planned to list in Australia in October 2019 when it tried to raise about $A380 million.</p>\n<p>A listing never happened though and the float was pulled, which the company attributed to uncertain market conditions at the time.</p>\n<p>Founded in 2007, PropertyGuru hosts more than 2.8 million monthly real estate listings. It serves 37 million property seekers a month and 49,000 active property agents across Indonesia, Malaysia, Singapore, Thailand and Vietnam.</p>\n<p>The company offers digital property marketplaces to match buyers and tenants with sellers and landlords, as well as digital marketing for property agents and developers.</p>\n<p>\"The market for property is probably the oldest market in the world, and only now is it beginning to change rapidly,\" said Peter Thiel, president of Thiel Capital.</p>\n<p>\"As PropertyGuru spearheads that change in Southeast Asia, Bridgetown 2 will provide capital and expertise to accelerate it even further,\" he said.</p>\n<p>The combined company will have an enterprise value of about $1.35 billion. The deal is expected to close in the fourth quarter of 2021 or the first quarter of 2022.</p>\n<p>Merrill Lynch (Singapore) Pte Ltd is serving as exclusive financial advisor to PropertyGuru on the deal.</p>\n<p>Merrill Lynch, Citigroup, KKR Capital Markets and TPG Capital were the placement agents to Bridgetown 2. (Reporting by Noor Zainab Hussain in Bengaluru; additional reporting Scott Murdoch in Hong Kong, Editing by Devika Syamnath, Robert Birsel)</p>","source":"yahoofinance","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>PropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel</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\">\nPropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-26 07:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-propertyguru-public-merger-spac-081616045.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public through a merger with a blank-check firm backed by billionaires Richard Li and Peter Thiel, giving ...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-propertyguru-public-merger-spac-081616045.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal","RPGRY":"REA Group Ltd","PLTR":"Palantir Technologies Inc."},"source_url":"https://finance.yahoo.com/news/1-propertyguru-public-merger-spac-081616045.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2153354629","content_text":"July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public through a merger with a blank-check firm backed by billionaires Richard Li and Peter Thiel, giving the combined company an equity value of about $1.78 billion.\nThe deal with Bridgetown 2 Holdings, a special purpose acquisition company (SPAC), is expected to fetch proceeds of $431 million, including a private investment of $100 million from Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia's largest asset managers.\nAustralia's REA Group has also committed to an additional $32 million investment, PropertyGuru said.\nThe combined company will be listed on the New York Stock Exchange once the deal is finalised, PropertyGuru said in a statement.\nThe transaction is a major development for PropertyGuru which had planned to list in Australia in October 2019 when it tried to raise about $A380 million.\nA listing never happened though and the float was pulled, which the company attributed to uncertain market conditions at the time.\nFounded in 2007, PropertyGuru hosts more than 2.8 million monthly real estate listings. It serves 37 million property seekers a month and 49,000 active property agents across Indonesia, Malaysia, Singapore, Thailand and Vietnam.\nThe company offers digital property marketplaces to match buyers and tenants with sellers and landlords, as well as digital marketing for property agents and developers.\n\"The market for property is probably the oldest market in the world, and only now is it beginning to change rapidly,\" said Peter Thiel, president of Thiel Capital.\n\"As PropertyGuru spearheads that change in Southeast Asia, Bridgetown 2 will provide capital and expertise to accelerate it even further,\" he said.\nThe combined company will have an enterprise value of about $1.35 billion. The deal is expected to close in the fourth quarter of 2021 or the first quarter of 2022.\nMerrill Lynch (Singapore) Pte Ltd is serving as exclusive financial advisor to PropertyGuru on the deal.\nMerrill Lynch, Citigroup, KKR Capital Markets and TPG Capital were the placement agents to Bridgetown 2. (Reporting by Noor Zainab Hussain in Bengaluru; additional reporting Scott Murdoch in Hong Kong, Editing by Devika Syamnath, Robert Birsel)","news_type":1},"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177891380,"gmtCreate":1627192889440,"gmtModify":1631890801690,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177891380","repostId":"2153936352","repostType":4,"repost":{"id":"2153936352","kind":"highlight","pubTimestamp":1627180340,"share":"https://www.laohu8.com/m/news/2153936352?lang=&edition=full","pubTime":"2021-07-25 10:32","market":"us","language":"en","title":"Will Square Be Worth More Than PayPal by 2025?","url":"https://stock-news.laohu8.com/highlight/detail?id=2153936352","media":"Motley Fool","summary":"Could the ambitious fintech company overtake the market leader?","content":"<p><b>Square</b> (NYSE:SQ) and <b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a></b> (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at around $260. PayPal, which was spun off from<b> <a href=\"https://laohu8.com/S/EBAY\">eBay</a> </b>(NASDAQ:EBAY) earlier that year, has advanced more than 720% since its debut to over $300 per share.</p>\n<p>Square is worth nearly $120 billion as of this writing, while PayPal is worth over $350 billion. That isn't surprising, since PayPal still serves a much larger audience and operates in more countries than Square. But gazing into the future, could Square eventually match -- or even surpass -- PayPal's valuation by 2025? Let's examine both fintech companies' growth trajectories and valuations to find out.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3384d45efb17ed54b398c7dbcc043fb\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2><b>Wild ambitions vs. stable growth</b></h2>\n<p>Square and PayPal's core business models are similar. Both companies charge businesses flat fees, which vary by platform and transaction type, to process payments. Both companies offer small business loans. Square's Cash App and PayPal's Venmo both enable consumers to make peer-to-peer payments, and both companies provide branded debit cards that are linked to users' online accounts.</p>\n<p>But Square has been willing to take bolder risks than PayPal over the past few years. It expanded its services ecosystem with online payroll management services and analytics tools, and recently launched a full suite of online banking services. Square also added <b>Bitcoin</b> (CRYPTO:BTC) purchases to its Cash App in 2018, added free stock trades to the app to challenge Robinhood in 2019, and plans to add Credit Karma's tax filing services to its ecosystem in the near future.</p>\n<p>PayPal only started offering cryptocurrency trades last October, and it doesn't have any near-term plans to launch stock trading tools or dedicated tax filing services, or expand into a full-blown online bank like Square. Simply put, Square seems to have wilder and grander ambitions than PayPal.</p>\n<h2>Which company is growing faster?</h2>\n<p>Between 2015 and 2020, Square grew its annual revenue at a CAGR of 49.6%. Excluding its massive gain in Bitcoin revenue last year, it would still have grown its revenue at a CAGR of 31.2% over the past five years. PayPal's annual revenue grew at a CAGR of 18.5% between 2015 and 2020. Let's take a look at Wall Street's expectations for both companies over the next two years.</p>\n<table border=\"1\" width=\"600\">\n <colgroup></colgroup>\n <tbody>\n  <tr valign=\"TOP\">\n   <th width=\"118\"><p>Company</p></th>\n   <th width=\"213\"><p>Estimated Sales Growth (FY 2021)</p></th>\n   <th width=\"225\"><p>Estimated Sales Growth(FY 2022)</p></th>\n  </tr>\n  <tr valign=\"TOP\">\n   <td width=\"118\"><p><b>Square</b></p></td>\n   <td width=\"213\"><p>110.6%</p></td>\n   <td width=\"225\"><p>14.1%</p></td>\n  </tr>\n  <tr valign=\"TOP\">\n   <td width=\"118\"><p><b>PayPal</b></p></td>\n   <td width=\"213\"><p>20.6%</p></td>\n   <td width=\"225\"><p>21.5%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: Yahoo Finance, July 22.</p>\n<p>Analysts expect Square's Bitcoin revenue to continue rising this year before cooling off next year. They also expect its growth in transaction-based and seller service revenue, which slowed down during the pandemic, to recover as more businesses reopen. The Cash App, which grew its monthly active users 50% to 36 million in 2020, should also keep expanding as Square adds new services.</p>\n<p>Cathie Wood's ARK Invest expects Square's transaction-based and seller service revenues to grow at a CAGR of 19% through 2025. It also expects the Cash App's MAUs to more than double to 75 million, for Square to monetize roughly 40% of those users, and for its average revenue per Cash App user to grow from $25 in 2019 to $260 in 2025 -- which would represent a whopping CAGR of 49%.</p>\n<p>PayPal's growth should remain more predictable, since it doesn't generate significant revenue from cryptocurrencies yet. Instead, it will mainly rely on its growth in active accounts, which rose 21% year-over-year to 392 million last quarter, to generate stable revenue from its processing fees.</p>\n<p>PayPal expects to nearly double its active accounts to 750 million and <i>more than double</i> its annual revenue to over $50 billion by 2025. It also plans to grow its earnings at a CAGR of 22% from 2020 to 2025. It believes the rising acceptance of QR codes and NFC payments, the expansion of its financial services, and higher engagement rates for its apps will all drive that long-term growth.</p>\n<h2>Will Square be worth more than PayPal by 2025?</h2>\n<p>In a best-case scenario, ARK Invest believes Square's stock could hit $500 per share by 2025 if it hits its growth targets. But unlike PayPal, Square hasn't provided any concrete targets of its own yet.</p>\n<p>If Square hits $500 and its valuations hold steady, it could be worth just over $200 billion by 2025. Meanwhile, if PayPal achieves its goals of more than doubling its annual revenue and growing its EPS at a CAGR of 22% through 2025, its stock could easily double and boost its market cap to $700 billion.</p>\n<p>Therefore, it's doubtful that Square -- which already trades at higher valuations than PayPal -- will be the more valuable company by 2025. But that doesn't mean PayPal is necessarily a better growth stock than Square. I personally own Square instead of PayPal, because I admire its ambitious and forward-thinking strategies. Both stocks are still great long-term investments on the booming fintech market, so investors shouldn't fret too much over which company has the higher market cap.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will Square Be Worth More Than PayPal by 2025?</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\">\nWill Square Be Worth More Than PayPal by 2025?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-25 10:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Square (NYSE:SQ) and PayPal (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal","SQ":"Block"},"source_url":"https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153936352","content_text":"Square (NYSE:SQ) and PayPal (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at around $260. PayPal, which was spun off from eBay (NASDAQ:EBAY) earlier that year, has advanced more than 720% since its debut to over $300 per share.\nSquare is worth nearly $120 billion as of this writing, while PayPal is worth over $350 billion. That isn't surprising, since PayPal still serves a much larger audience and operates in more countries than Square. But gazing into the future, could Square eventually match -- or even surpass -- PayPal's valuation by 2025? Let's examine both fintech companies' growth trajectories and valuations to find out.\nImage source: Getty Images.\nWild ambitions vs. stable growth\nSquare and PayPal's core business models are similar. Both companies charge businesses flat fees, which vary by platform and transaction type, to process payments. Both companies offer small business loans. Square's Cash App and PayPal's Venmo both enable consumers to make peer-to-peer payments, and both companies provide branded debit cards that are linked to users' online accounts.\nBut Square has been willing to take bolder risks than PayPal over the past few years. It expanded its services ecosystem with online payroll management services and analytics tools, and recently launched a full suite of online banking services. Square also added Bitcoin (CRYPTO:BTC) purchases to its Cash App in 2018, added free stock trades to the app to challenge Robinhood in 2019, and plans to add Credit Karma's tax filing services to its ecosystem in the near future.\nPayPal only started offering cryptocurrency trades last October, and it doesn't have any near-term plans to launch stock trading tools or dedicated tax filing services, or expand into a full-blown online bank like Square. Simply put, Square seems to have wilder and grander ambitions than PayPal.\nWhich company is growing faster?\nBetween 2015 and 2020, Square grew its annual revenue at a CAGR of 49.6%. Excluding its massive gain in Bitcoin revenue last year, it would still have grown its revenue at a CAGR of 31.2% over the past five years. PayPal's annual revenue grew at a CAGR of 18.5% between 2015 and 2020. Let's take a look at Wall Street's expectations for both companies over the next two years.\n\n\n\n\nCompany\nEstimated Sales Growth (FY 2021)\nEstimated Sales Growth(FY 2022)\n\n\nSquare\n110.6%\n14.1%\n\n\nPayPal\n20.6%\n21.5%\n\n\n\nSource: Yahoo Finance, July 22.\nAnalysts expect Square's Bitcoin revenue to continue rising this year before cooling off next year. They also expect its growth in transaction-based and seller service revenue, which slowed down during the pandemic, to recover as more businesses reopen. The Cash App, which grew its monthly active users 50% to 36 million in 2020, should also keep expanding as Square adds new services.\nCathie Wood's ARK Invest expects Square's transaction-based and seller service revenues to grow at a CAGR of 19% through 2025. It also expects the Cash App's MAUs to more than double to 75 million, for Square to monetize roughly 40% of those users, and for its average revenue per Cash App user to grow from $25 in 2019 to $260 in 2025 -- which would represent a whopping CAGR of 49%.\nPayPal's growth should remain more predictable, since it doesn't generate significant revenue from cryptocurrencies yet. Instead, it will mainly rely on its growth in active accounts, which rose 21% year-over-year to 392 million last quarter, to generate stable revenue from its processing fees.\nPayPal expects to nearly double its active accounts to 750 million and more than double its annual revenue to over $50 billion by 2025. It also plans to grow its earnings at a CAGR of 22% from 2020 to 2025. It believes the rising acceptance of QR codes and NFC payments, the expansion of its financial services, and higher engagement rates for its apps will all drive that long-term growth.\nWill Square be worth more than PayPal by 2025?\nIn a best-case scenario, ARK Invest believes Square's stock could hit $500 per share by 2025 if it hits its growth targets. But unlike PayPal, Square hasn't provided any concrete targets of its own yet.\nIf Square hits $500 and its valuations hold steady, it could be worth just over $200 billion by 2025. Meanwhile, if PayPal achieves its goals of more than doubling its annual revenue and growing its EPS at a CAGR of 22% through 2025, its stock could easily double and boost its market cap to $700 billion.\nTherefore, it's doubtful that Square -- which already trades at higher valuations than PayPal -- will be the more valuable company by 2025. But that doesn't mean PayPal is necessarily a better growth stock than Square. I personally own Square instead of PayPal, because I admire its ambitious and forward-thinking strategies. Both stocks are still great long-term investments on the booming fintech market, so investors shouldn't fret too much over which company has the higher market cap.","news_type":1},"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174287564,"gmtCreate":1627101838058,"gmtModify":1631890801693,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174287564","repostId":"1151500518","repostType":4,"repost":{"id":"1151500518","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627092269,"share":"https://www.laohu8.com/m/news/1151500518?lang=&edition=full","pubTime":"2021-07-24 10:04","market":"us","language":"en","title":"Tencent was ordered to remove the exclusive copyright of online music","url":"https://stock-news.laohu8.com/highlight/detail?id=1151500518","media":"Tiger Newspress","summary":"The China market supervision administration made an administrative punishment decision according to ","content":"<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p>\n<p>This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p>\n<p>Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</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>Tencent was ordered to remove the exclusive copyright of online music</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\">\nTencent was ordered to remove the exclusive copyright of online music\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-24 10:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p>\n<p>This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p>\n<p>Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TME":"腾讯音乐","00700":"腾讯控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151500518","content_text":"The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.\nThis case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.\nTencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.","news_type":1},"isVote":1,"tweetType":1,"viewCount":246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176304039,"gmtCreate":1626859033021,"gmtModify":1631892992947,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/176304039","repostId":"1192426531","repostType":4,"repost":{"id":"1192426531","kind":"news","pubTimestamp":1626858599,"share":"https://www.laohu8.com/m/news/1192426531?lang=&edition=full","pubTime":"2021-07-21 17:09","market":"uk","language":"en","title":"Revolut Becomes UK's Biggest Unicorn","url":"https://stock-news.laohu8.com/highlight/detail?id=1192426531","media":"zerohedge","summary":"Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Glob","content":"<p><b>Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Global Management, UK-based&nbsp;fintech&nbsp;company Revolut is now valued at $33 billion</b>, making it the biggest 'unicorn' in the country as well as the highest-valued fintech company.</p>\n<p>As reported by Reuters, \"Revolut has won more than 16 million customers with products including foreign exchange, stock trading and cryptocurrencies, undercutting mainstream banks' prices.\"</p>\n<p>However,as Statista's Martin Armstrong notes,<i><b>\"it has yet to translate that rapid growth into profitability, with its annual losses doubling last financial year on investment in risk controls.\"</b></i></p>\n<p>Second on the list of the UK's most valuable unicorns, as compiled byCB Insights, is another fintech company - checkout.com - which reached its $15 billion valuation after raising $450 million at the beginning of the year, again led by Tiger Global Management.</p>\n<p><img src=\"https://static.tigerbbs.com/63080ab1bf0f6d0624138655b5f695b2\" tg-width=\"1200\" tg-height=\"1200\" width=\"100%\" height=\"auto\"><i>You will find more infographics atStatista</i></p>\n<p><b>Checkout and Revolut are now up there with the most valuable fintech companies in the world.</b></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>Revolut Becomes UK's Biggest Unicorn</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\">\nRevolut Becomes UK's Biggest Unicorn\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-21 17:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/revolut-becomes-uks-biggest-unicorn><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Global Management, UK-based fintech company Revolut is now valued at $33 billion, making it the biggest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/revolut-becomes-uks-biggest-unicorn\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/revolut-becomes-uks-biggest-unicorn","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192426531","content_text":"Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Global Management, UK-based fintech company Revolut is now valued at $33 billion, making it the biggest 'unicorn' in the country as well as the highest-valued fintech company.\nAs reported by Reuters, \"Revolut has won more than 16 million customers with products including foreign exchange, stock trading and cryptocurrencies, undercutting mainstream banks' prices.\"\nHowever,as Statista's Martin Armstrong notes,\"it has yet to translate that rapid growth into profitability, with its annual losses doubling last financial year on investment in risk controls.\"\nSecond on the list of the UK's most valuable unicorns, as compiled byCB Insights, is another fintech company - checkout.com - which reached its $15 billion valuation after raising $450 million at the beginning of the year, again led by Tiger Global Management.\nYou will find more infographics atStatista\nCheckout and Revolut are now up there with the most valuable fintech companies in the world.","news_type":1},"isVote":1,"tweetType":1,"viewCount":138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178001447,"gmtCreate":1626769749789,"gmtModify":1631892992962,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Yo","listText":"Yo","text":"Yo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178001447","repostId":"1171899583","repostType":4,"repost":{"id":"1171899583","kind":"news","pubTimestamp":1626765701,"share":"https://www.laohu8.com/m/news/1171899583?lang=&edition=full","pubTime":"2021-07-20 15:21","market":"us","language":"en","title":"Peloton Rises, Reportedly Plans In-App Videogame","url":"https://stock-news.laohu8.com/highlight/detail?id=1171899583","media":"The Street","summary":"Peloton's game, called Lanebreak, prompts users to change their cadence and resistance to meet vario","content":"<blockquote>\n Peloton's game, called Lanebreak, prompts users to change their cadence and resistance to meet various goals.\n</blockquote>\n<p><a href=\"https://laohu8.com/S/PTON\">Peloton Interactive, Inc.</a> shares rose Monday, after a report that the connected fitness titan plans to put a video game into its app for cycle owners and subscribers.</p>\n<p>The game, called Lanebreak, prompts users to change their cadence and resistance to meet various goals and to control an on-screen rolling wheel, The Verge reports. It says Peloton members will be able to test the game later in the year.</p>\n<p>“Players can choose a difficulty level, the type of music they want to hear, and the duration of the track before starting,” the report said.</p>\n<p>Participants earn points for being in the lane required by the game, for their cadence and for their energy output.</p>\n<p>Peloton rose $7.89, or 7.1%, to close at $118.43. The stock has fallen 26% over the past six months amid valuation concerns.</p>\n<p>Last week,Wedbush downgraded Peloton to neutralfrom outperform, trimming its price target to $115 from $130.</p>\n<p>Now that COVID-19 lockdowns have eased, Wedbush sees signs of a \"substantial deceleration\" in user engagement. That could mark \"a turning point for a company that has continually defied gravity since its IPO,\" the firm said.</p>\n<p>The post-pandemic era \"will require the company to generate its own momentum through savvy marketing and compelling new products,\" Wedbush analyst James Hardiman said. Gym reopenings are leading some consumers back into their pre-pandemic workout routines, he notes.</p>\n<p>Last month, Peloton unveiled acorporate wellnessprogram for employees of companies in the U.S., U.K., Canada and Germany, with plans to expand to Australia later this year.</p>\n<p></p>","source":"lsy1610613172068","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>Peloton Rises, Reportedly Plans In-App Videogame</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\">\nPeloton Rises, Reportedly Plans In-App Videogame\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 15:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/peloton-in-app-video-game><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Peloton's game, called Lanebreak, prompts users to change their cadence and resistance to meet various goals.\n\nPeloton Interactive, Inc. shares rose Monday, after a report that the connected fitness ...</p>\n\n<a href=\"https://www.thestreet.com/investing/peloton-in-app-video-game\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PTON":"Peloton Interactive, Inc."},"source_url":"https://www.thestreet.com/investing/peloton-in-app-video-game","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171899583","content_text":"Peloton's game, called Lanebreak, prompts users to change their cadence and resistance to meet various goals.\n\nPeloton Interactive, Inc. shares rose Monday, after a report that the connected fitness titan plans to put a video game into its app for cycle owners and subscribers.\nThe game, called Lanebreak, prompts users to change their cadence and resistance to meet various goals and to control an on-screen rolling wheel, The Verge reports. It says Peloton members will be able to test the game later in the year.\n“Players can choose a difficulty level, the type of music they want to hear, and the duration of the track before starting,” the report said.\nParticipants earn points for being in the lane required by the game, for their cadence and for their energy output.\nPeloton rose $7.89, or 7.1%, to close at $118.43. The stock has fallen 26% over the past six months amid valuation concerns.\nLast week,Wedbush downgraded Peloton to neutralfrom outperform, trimming its price target to $115 from $130.\nNow that COVID-19 lockdowns have eased, Wedbush sees signs of a \"substantial deceleration\" in user engagement. That could mark \"a turning point for a company that has continually defied gravity since its IPO,\" the firm said.\nThe post-pandemic era \"will require the company to generate its own momentum through savvy marketing and compelling new products,\" Wedbush analyst James Hardiman said. Gym reopenings are leading some consumers back into their pre-pandemic workout routines, he notes.\nLast month, Peloton unveiled acorporate wellnessprogram for employees of companies in the U.S., U.K., Canada and Germany, with plans to expand to Australia later this year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179777215,"gmtCreate":1626581671837,"gmtModify":1631892992980,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179777215","repostId":"1139907709","repostType":4,"repost":{"id":"1139907709","kind":"news","pubTimestamp":1626568617,"share":"https://www.laohu8.com/m/news/1139907709?lang=&edition=full","pubTime":"2021-07-18 08:36","market":"hk","language":"en","title":"Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World","url":"https://stock-news.laohu8.com/highlight/detail?id=1139907709","media":"Benzinga","summary":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Q","content":"<p><i>Does crime pay?</i></p>\n<p>In August 1988, French authorities arrested an American expatriate named&nbsp;<b>Thomas F. Quinn</b>&nbsp;for orchestrating a global securities scheme that defrauded investors out of $500 million.</p>\n<p>As an unapologetic financial miscreant with a lifelong penchant for fraud, the French escapade represented something of a career peak for Quinn, whose flair of swindling took on an astonishing level of organizing that left no corner of the world untouched.</p>\n<p><b>Illusory Assets For Sale:</b>Thomas Francis Quinn was born in Brooklyn in 1932; his father drove a cement truck and his mother was a housewife who made extra money selling clothing and jewelry from the family’s garage.</p>\n<p>Quinn was an altar boy in his childhood and was the first member of his family to pursue higher education, graduating from St. John’s University Law School and passing the bar in 1962.</p>\n<p>Quinn opted to go into business for himself, starting a brokerage firm in New York called&nbsp;<b>Thomas, Williams &amp; Lee.</b>The main focus of this firm became the promotion of&nbsp;<b>Kent Industries,</b>a company that claimed to own Florida property valued at $2 million.</p>\n<p>There was a slight problem —&nbsp;Kent Industries didn’t own anything in the Sunshine State, and this inconvenient fact helped to introduce Quinn to the U.S. Securities and Exchange Commission (SEC).</p>\n<p>Long story short: Quinn received a lifetime banishment from the SEC in 1966 from doing business with brokers and dealers thanks to what the agency defined as his “flagrant fraudulent practices” related to the Kent Industries assets, which the regulator considered to be “almost completely illusory.”</p>\n<p>The U.S. Department of Justice (DOJ) was a bit slower in dealing with Quinn, but by 1970 he was sent to jail for six months and was later permanently disbarred from practicing law.</p>\n<p><b>A Job With The Mob:</b>Prior to losing his law license, Quinn gained a partnership in a New York-based securities law firm that set off several alarms among federal law enforcement agencies. Indeed, an FBI report from 1983 recalled this firm’s chief focus was being responsible for the “funds of hoodlum-controlled companies.”</p>\n<p>Quinn was on both the FBI’s and SEC’s respective radars in the early 1980s for his role with two companies,<b>Sundance Gold Mining</b>&nbsp;and&nbsp;<b>Aquarius Gold Exploration</b>, that claimed to have discovered gold in Suriname. The companies created a flurry of excitement among investors, but an investigation into their operations found a hitherto undeclared connection with the&nbsp;<b>Genovese crime family.</b></p>\n<p>The SEC filed a civil complaint against Quinn in 1983, charging him with fraudulently manipulating and promoting the companies’ stocks.</p>\n<p>Three years later, he reached a settlement with the regulator by agreeing to permanently stay away from anything related to securities.</p>\n<p>The FBI, despite finding Mafia fingerprints in Quinn’s business affairs, declined to press charges against him.</p>\n<p>Realizing that he wore out his welcome in his home country, Quinn and his common-law wife&nbsp;<b>Rochelle Rothfleisch</b>&nbsp;decided to relocate to France and to up his game to an unprecedented operation.</p>\n<p><b>Boiler Room Follies:</b>The circumstances and details of how Quinn built his swindling masterpiece are a bit fuzzy, but it is believed that the scheme was first hatched in 1984 and was coordinated out of his $6 million villa in the south of France.</p>\n<p>Quinn set up an archipelago of offices in several European countries and in Dubai, Jamaica and the tiny South Pacific island nation of Vanuatu, and he gave them phony names that sounded similar to respectable brokerages.</p>\n<p>Each office was staffed with salesmen who were tasked to sell stocks for 20 U.S. corporations to individual investors around the world. The stocks in question were mostly shell companies trading on the over-the-counter exchanges that Quinn picked up for pennies, but they were resold by Quinn’s salesmen at inflated amounts.</p>\n<p>The investors were culled from mailing lists sold by publishing companies and professional organizations, as well as from respondents to advertisements placed in newsletters focused on the over-the-counter markets.</p>\n<p>Quinn’s henchmen would telephone the investors —&nbsp;nearly all of whom were novices to investing —&nbsp;and do a high-pressure sales spiel that, more often than not, resulted in the separation of the gullible targets from their money.</p>\n<p>Quinn’s team aimed at European, Australian, Middle Eastern and Hong Kong neophyte investors. The only country off-limits from this scheme was the U.S. Quinn was already on the FBI’s radar and the last thing he wanted was to give them cause to pursue him anew.</p>\n<p><b>A Temporary Setback:</b>&nbsp;In 1988, Quinn’s arrest in France&nbsp;saw him charged with securities fraud, forgery of administrative documents and the possession of two fake Greek passports. His detention and the subsequent arrest of 20 of his salesmen created a fascinating dilemma for banking and law enforcement agencies in multiple countries.</p>\n<p>For starters, no one could easily figure out where the majority of Quinn’s $500 million in ill-gotten gains wound up.&nbsp;Transfers were traced through banks in Switzerland, Luxembourg and Gibraltar, as well as the beleaguered&nbsp;<b>Bank of Credit and Commerce International</b>&nbsp;in Tampa, Florida, which gained national attention as a favored depository for those involved in drug money laundering. But where the money eventually landed was anyone’s guess, and Quinn’s talent for adopting aliases to cover his business tracks confounded investigators.</p>\n<p>Also, it was unclear regarding how many people were swindled. A pair of class-action lawsuits brought out a total of 500 people trying to regain their money, but some observers of this case speculated the number could have been higher — some investors might have seen Quinn’s scam as a means of evading local taxes and foreign currency exchanges and would then have to answer to their authorities if this chicanery came to light.</p>\n<p>The SEC got into the picture because the stocks being sold in the scheme were all U.S. companies. The agency hosted a meeting in Washington D.C.&nbsp;with law enforcement officers and prosecutors from eight European countries and Australia, with the hopes of sorting out the mess. But since no Americans were defrauded in this elaborate charade, Quinn did not face criminal charges in his own country, although the SEC temporarily froze his U.S. assets.</p>\n<p>In France, Quinn was initially released after agreeing to reimburse his French victims but was arrested again when the Swiss government demanded his extradition.</p>\n<p>He came to trial in 1991 and was only sentenced to four years in prison,&nbsp;but his sentence was reduced to include time served and he was extradited to Switzerland.</p>\n<p>His Alpine detention was brief and by the mid-1990s he returned to the U.S. and rented a luxury home in Greenwich, Connecticut, a swanky suburb of New York City.</p>\n<p><b>An Eventual Stumble:</b>One of Quinn’s neighbors in Greenwich was<b>Martin Frankel,</b>a financier with his own addiction to swindling.</p>\n<p>In 1999, the Wall Street Journal used anonymous “people familiar with the matter” to claim Quinn assisted Frankel in his efforts to raise money for a controlled investment fund designed to buy insurance companies —&nbsp;but this turned out to be an embezzlement scam that resulted in Frankel fleeing the U.S. to Germany on a phony passport.</p>\n<p>Frankel was eventually extradited and spent nearly two decades in prison, but Quinn was never charged for being a partner in Frankel’s shenanigans.</p>\n<p>For most of the 1990s and the 2000s, Quinn kept a very low public profile, although law enforcement tracked his travels to such far-flung places as the Maldives and the United Arab Emirates.</p>\n<p>In 2004, he made a rare appearance at the Irish Derby as the co-owner of the winning thoroughbred Grey Swallow. Photographs of Quinn with the winning racehorse marked the only time that he was ever photographed in a public gathering. (Copyright restrictions prevent us from reprinting the photograph here, butthis linkon the RTE website shows Quinn, standing second from right, at the conclusion of the championship race.)</p>\n<p>In November 2009, Quinn’s luck finally ran out. On a trip back from Ireland to New York’s JFK International Airport, he was arrested for his role within a ring of embezzlers that sought to defraud a pair of British telecommunications companies out of more than $60 million. The scheme had the global hallmarks of Quinn’s earlier criminal triumph, with funds being disbursed to seven countries across four continents.</p>\n<p>Quinn was immediately jailed upon his arrest and was denied bail because it was feared he would attempt to flee the country. He eventually pleaded guilty to a single count of wire fraud and, despite exhortations to avoid prison due to health problems, he was sentenced in March 2013 to 84 months in prison. He was released in May 2016.</p>\n<p>What became of Quinn since his release is unknown. No obituary for him has been published, and he would be 89 years old if he is still alive.</p>\n<p>One information-tracking website listed him residing at a Brooklyn address, but the website also listed an accompanying telephone number that is not in service. Any readers who may have information on Quinn’s whereabouts should contact us and we will offer an update on his story.</p>\n<p>Quinn rarely spoke to anyone about his criminal activities.&nbsp;During an investigative session after his final arrest, he reportedly would only answer questions through a series of eyelid blinks. When a reporter sought to interview him in 1995, he demanded his privacy.</p>\n<p>\"Just forget me,\" Quinn said. \"I've got a lot of trouble and a lot of personal grief. I'm just trying to get on with my life. I'm not in the securities business and never will be again.\"</p>","source":"lsy1606299360108","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>Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World</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\">\nWall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 08:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million.\nAs ...</p>\n\n<a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139907709","content_text":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million.\nAs an unapologetic financial miscreant with a lifelong penchant for fraud, the French escapade represented something of a career peak for Quinn, whose flair of swindling took on an astonishing level of organizing that left no corner of the world untouched.\nIllusory Assets For Sale:Thomas Francis Quinn was born in Brooklyn in 1932; his father drove a cement truck and his mother was a housewife who made extra money selling clothing and jewelry from the family’s garage.\nQuinn was an altar boy in his childhood and was the first member of his family to pursue higher education, graduating from St. John’s University Law School and passing the bar in 1962.\nQuinn opted to go into business for himself, starting a brokerage firm in New York called Thomas, Williams & Lee.The main focus of this firm became the promotion of Kent Industries,a company that claimed to own Florida property valued at $2 million.\nThere was a slight problem — Kent Industries didn’t own anything in the Sunshine State, and this inconvenient fact helped to introduce Quinn to the U.S. Securities and Exchange Commission (SEC).\nLong story short: Quinn received a lifetime banishment from the SEC in 1966 from doing business with brokers and dealers thanks to what the agency defined as his “flagrant fraudulent practices” related to the Kent Industries assets, which the regulator considered to be “almost completely illusory.”\nThe U.S. Department of Justice (DOJ) was a bit slower in dealing with Quinn, but by 1970 he was sent to jail for six months and was later permanently disbarred from practicing law.\nA Job With The Mob:Prior to losing his law license, Quinn gained a partnership in a New York-based securities law firm that set off several alarms among federal law enforcement agencies. Indeed, an FBI report from 1983 recalled this firm’s chief focus was being responsible for the “funds of hoodlum-controlled companies.”\nQuinn was on both the FBI’s and SEC’s respective radars in the early 1980s for his role with two companies,Sundance Gold Mining and Aquarius Gold Exploration, that claimed to have discovered gold in Suriname. The companies created a flurry of excitement among investors, but an investigation into their operations found a hitherto undeclared connection with the Genovese crime family.\nThe SEC filed a civil complaint against Quinn in 1983, charging him with fraudulently manipulating and promoting the companies’ stocks.\nThree years later, he reached a settlement with the regulator by agreeing to permanently stay away from anything related to securities.\nThe FBI, despite finding Mafia fingerprints in Quinn’s business affairs, declined to press charges against him.\nRealizing that he wore out his welcome in his home country, Quinn and his common-law wife Rochelle Rothfleisch decided to relocate to France and to up his game to an unprecedented operation.\nBoiler Room Follies:The circumstances and details of how Quinn built his swindling masterpiece are a bit fuzzy, but it is believed that the scheme was first hatched in 1984 and was coordinated out of his $6 million villa in the south of France.\nQuinn set up an archipelago of offices in several European countries and in Dubai, Jamaica and the tiny South Pacific island nation of Vanuatu, and he gave them phony names that sounded similar to respectable brokerages.\nEach office was staffed with salesmen who were tasked to sell stocks for 20 U.S. corporations to individual investors around the world. The stocks in question were mostly shell companies trading on the over-the-counter exchanges that Quinn picked up for pennies, but they were resold by Quinn’s salesmen at inflated amounts.\nThe investors were culled from mailing lists sold by publishing companies and professional organizations, as well as from respondents to advertisements placed in newsletters focused on the over-the-counter markets.\nQuinn’s henchmen would telephone the investors — nearly all of whom were novices to investing — and do a high-pressure sales spiel that, more often than not, resulted in the separation of the gullible targets from their money.\nQuinn’s team aimed at European, Australian, Middle Eastern and Hong Kong neophyte investors. The only country off-limits from this scheme was the U.S. Quinn was already on the FBI’s radar and the last thing he wanted was to give them cause to pursue him anew.\nA Temporary Setback: In 1988, Quinn’s arrest in France saw him charged with securities fraud, forgery of administrative documents and the possession of two fake Greek passports. His detention and the subsequent arrest of 20 of his salesmen created a fascinating dilemma for banking and law enforcement agencies in multiple countries.\nFor starters, no one could easily figure out where the majority of Quinn’s $500 million in ill-gotten gains wound up. Transfers were traced through banks in Switzerland, Luxembourg and Gibraltar, as well as the beleaguered Bank of Credit and Commerce International in Tampa, Florida, which gained national attention as a favored depository for those involved in drug money laundering. But where the money eventually landed was anyone’s guess, and Quinn’s talent for adopting aliases to cover his business tracks confounded investigators.\nAlso, it was unclear regarding how many people were swindled. A pair of class-action lawsuits brought out a total of 500 people trying to regain their money, but some observers of this case speculated the number could have been higher — some investors might have seen Quinn’s scam as a means of evading local taxes and foreign currency exchanges and would then have to answer to their authorities if this chicanery came to light.\nThe SEC got into the picture because the stocks being sold in the scheme were all U.S. companies. The agency hosted a meeting in Washington D.C. with law enforcement officers and prosecutors from eight European countries and Australia, with the hopes of sorting out the mess. But since no Americans were defrauded in this elaborate charade, Quinn did not face criminal charges in his own country, although the SEC temporarily froze his U.S. assets.\nIn France, Quinn was initially released after agreeing to reimburse his French victims but was arrested again when the Swiss government demanded his extradition.\nHe came to trial in 1991 and was only sentenced to four years in prison, but his sentence was reduced to include time served and he was extradited to Switzerland.\nHis Alpine detention was brief and by the mid-1990s he returned to the U.S. and rented a luxury home in Greenwich, Connecticut, a swanky suburb of New York City.\nAn Eventual Stumble:One of Quinn’s neighbors in Greenwich wasMartin Frankel,a financier with his own addiction to swindling.\nIn 1999, the Wall Street Journal used anonymous “people familiar with the matter” to claim Quinn assisted Frankel in his efforts to raise money for a controlled investment fund designed to buy insurance companies — but this turned out to be an embezzlement scam that resulted in Frankel fleeing the U.S. to Germany on a phony passport.\nFrankel was eventually extradited and spent nearly two decades in prison, but Quinn was never charged for being a partner in Frankel’s shenanigans.\nFor most of the 1990s and the 2000s, Quinn kept a very low public profile, although law enforcement tracked his travels to such far-flung places as the Maldives and the United Arab Emirates.\nIn 2004, he made a rare appearance at the Irish Derby as the co-owner of the winning thoroughbred Grey Swallow. Photographs of Quinn with the winning racehorse marked the only time that he was ever photographed in a public gathering. (Copyright restrictions prevent us from reprinting the photograph here, butthis linkon the RTE website shows Quinn, standing second from right, at the conclusion of the championship race.)\nIn November 2009, Quinn’s luck finally ran out. On a trip back from Ireland to New York’s JFK International Airport, he was arrested for his role within a ring of embezzlers that sought to defraud a pair of British telecommunications companies out of more than $60 million. The scheme had the global hallmarks of Quinn’s earlier criminal triumph, with funds being disbursed to seven countries across four continents.\nQuinn was immediately jailed upon his arrest and was denied bail because it was feared he would attempt to flee the country. He eventually pleaded guilty to a single count of wire fraud and, despite exhortations to avoid prison due to health problems, he was sentenced in March 2013 to 84 months in prison. He was released in May 2016.\nWhat became of Quinn since his release is unknown. No obituary for him has been published, and he would be 89 years old if he is still alive.\nOne information-tracking website listed him residing at a Brooklyn address, but the website also listed an accompanying telephone number that is not in service. Any readers who may have information on Quinn’s whereabouts should contact us and we will offer an update on his story.\nQuinn rarely spoke to anyone about his criminal activities. During an investigative session after his final arrest, he reportedly would only answer questions through a series of eyelid blinks. When a reporter sought to interview him in 1995, he demanded his privacy.\n\"Just forget me,\" Quinn said. \"I've got a lot of trouble and a lot of personal grief. I'm just trying to get on with my life. I'm not in the securities business and never will be again.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179296737,"gmtCreate":1626529344629,"gmtModify":1631892992986,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179296737","repostId":"1171115394","repostType":4,"repost":{"id":"1171115394","kind":"news","pubTimestamp":1626441684,"share":"https://www.laohu8.com/m/news/1171115394?lang=&edition=full","pubTime":"2021-07-16 21:21","market":"us","language":"en","title":"Investors Feel Almost No Risk Of Long-Term U.S. Stock Market Downside","url":"https://stock-news.laohu8.com/highlight/detail?id=1171115394","media":"seekingalpha","summary":"Summary\n\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1","content":"<p><b>Summary</b></p>\n<ul>\n <li>The current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend.</li>\n <li>Any investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.</li>\n <li>The current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak.</li>\n</ul>\n<p>In apoll of my followers on LinkedInand Twitter, I asked, \"What US S&amp;P500 average annual return do you expect over the next 10 years?\" At the most extremes, 18% expected greater than 10%, while only 7% said less than zero percent. The majority said from 5-10%. In fact, most people see strong positive returns going forward.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ad66b8ae3f6ba781bf8dc6539440157\" tg-width=\"654\" tg-height=\"406\" referrerpolicy=\"no-referrer\"><span>But EV/EBITDA at 17.2x is way above average</span></p>\n<p>But EV/EBITDA at 17.2x is way above average</p>\n<p>The current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend. Any investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.</p>\n<p><img src=\"https://static.tigerbbs.com/455b1c6e46a203eac21cf1558f19a8b6\" tg-width=\"644\" tg-height=\"422\" referrerpolicy=\"no-referrer\"></p>\n<p>The market hasn't touched the Shiller CAPE 2000 peak</p>\n<p>Robert Shiller's cyclically adjusted PE ratio (CAPE) is now approaching 35x. It was only higher when it hit 42x during the dot com bubble in 2000. Consider that in 2000, US government long-term bonds were yielding about 5%, versus the current 1.5%. From this chart, you can see that the US market has been in a long bull run since the 1979 interest rate peak.</p>\n<p>A fundamental investor knows that the value of a stock is largely dependent on the discount rate, which depends on the US bond rates. The current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak. Based on this chart, a fundamental investor would say that the US market is now significantly overvalued.</p>\n<p><img src=\"https://static.tigerbbs.com/4fadd296792cb1ac8c32a0fd2505f479\" tg-width=\"648\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>Though expensive, we are not in uncharted territory</p>\n<p>We calculated the US stock market EV/EBITDA for each month from 1990 to today. We then broke those into ten deciles from cheapest month to most expensive. After that, we asked, \"How often was the market trading in that state?\" We found that 20% of the time, the US market traded in the decile of 8.1x to 8.8x EV/EBITA. Twelve percent of the time, the market traded below 8.1x, and 14% of the time, the market was trading above the most expensive decile &gt;12.3x. At 17.2x EV/EBITDA multiple, the US market is clearly expensive.</p>\n<p><img src=\"https://static.tigerbbs.com/afb8b967176a977c3e3aae8221fd54c9\" tg-width=\"608\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p>\n<p>Today's buyers may not see positive returns</p>\n<p>We next asked, \"What were the forward returns earned if an investor were to buy the market at each decile?\" The results show that if you invested at the most common decile (8.1x to 8.8), you would have earned a 15% return over one year and 35% over five years.</p>\n<p>Those subsequent returns start to fall once the EV/EBTIDA rises above this decile (buying an expensive market means less gain). And most importantly, when the market trades in the most expensive decile (where we are now), subsequent 1, 2, and 3 returns were negative. An investor would have to wait five years to get a return only slightly above zero. A fundamental investor would consider this information and have a relatively negative view of the stock market.</p>\n<p><img src=\"https://static.tigerbbs.com/ee9eb026eb46cdd09709d7677a5ae00b\" tg-width=\"656\" tg-height=\"404\" referrerpolicy=\"no-referrer\">.</p>\n<p><img src=\"https://static.tigerbbs.com/ee9eb026eb46cdd09709d7677a5ae00b\" tg-width=\"656\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>Recent EPS collapse has been much shorter time</p>\n<p>The next chart considers the five main falls in earnings per share since 1900. One conclusion is that the fall in EPS has become less protracted. The Great Depression saw a four-year decline in earnings, while earnings fell for only 2 years from the 2000 peak and the 2007 peak. It is also fascinating to see that there was only a 20% fall in earnings in 2020, and that fall only happened over one year (2021 earnings are recovering).</p>\n<p>A fundamental investor could look at this chart and think that the recent crisis was quite minimal. This is partly because some sectors (info tech), some quality (high cash companies) and some size (large) companies did very well during this recent crisis. In addition, since many small or weak companies got destroyed, the supply of products and services has been reduced, which leads to strong pricing power for those that remain.</p>\n<p><img src=\"https://static.tigerbbs.com/445a232da0f6b76431ae38194fde2e22\" tg-width=\"622\" tg-height=\"430\" referrerpolicy=\"no-referrer\"></p>\n<p>Margin recovery is in place</p>\n<p>The net margins of corporate America have been on the rise since 1990. Over the past decade, they have averaged about 8%. The shaded areas on this chart show the period from peak to trough of net margin. The most significant thing about this chart is that the margin collapse is done and the margin recovery is underway. It is debatable whether the margin can recover to the prior peaks, but it is not unreasonable to say that the margin recovery has further to go. This could be positive for the US stock market.</p>\n<p><img src=\"https://static.tigerbbs.com/dbe8d0714e329dbc65b118f09f807e3f\" tg-width=\"658\" tg-height=\"440\" referrerpolicy=\"no-referrer\"></p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors Feel Almost No Risk Of Long-Term U.S. Stock Market Downside</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\">\nInvestors Feel Almost No Risk Of Long-Term U.S. Stock Market Downside\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 21:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4439518-investors-feel-almost-no-risk-of-long-term-u-s-stock-market-downside><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend.\nAny ...</p>\n\n<a href=\"https://seekingalpha.com/article/4439518-investors-feel-almost-no-risk-of-long-term-u-s-stock-market-downside\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://seekingalpha.com/article/4439518-investors-feel-almost-no-risk-of-long-term-u-s-stock-market-downside","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1171115394","content_text":"Summary\n\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend.\nAny investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.\nThe current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak.\n\nIn apoll of my followers on LinkedInand Twitter, I asked, \"What US S&P500 average annual return do you expect over the next 10 years?\" At the most extremes, 18% expected greater than 10%, while only 7% said less than zero percent. The majority said from 5-10%. In fact, most people see strong positive returns going forward.\nBut EV/EBITDA at 17.2x is way above average\nBut EV/EBITDA at 17.2x is way above average\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend. Any investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.\n\nThe market hasn't touched the Shiller CAPE 2000 peak\nRobert Shiller's cyclically adjusted PE ratio (CAPE) is now approaching 35x. It was only higher when it hit 42x during the dot com bubble in 2000. Consider that in 2000, US government long-term bonds were yielding about 5%, versus the current 1.5%. From this chart, you can see that the US market has been in a long bull run since the 1979 interest rate peak.\nA fundamental investor knows that the value of a stock is largely dependent on the discount rate, which depends on the US bond rates. The current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak. Based on this chart, a fundamental investor would say that the US market is now significantly overvalued.\n\nThough expensive, we are not in uncharted territory\nWe calculated the US stock market EV/EBITDA for each month from 1990 to today. We then broke those into ten deciles from cheapest month to most expensive. After that, we asked, \"How often was the market trading in that state?\" We found that 20% of the time, the US market traded in the decile of 8.1x to 8.8x EV/EBITA. Twelve percent of the time, the market traded below 8.1x, and 14% of the time, the market was trading above the most expensive decile >12.3x. At 17.2x EV/EBITDA multiple, the US market is clearly expensive.\n\nToday's buyers may not see positive returns\nWe next asked, \"What were the forward returns earned if an investor were to buy the market at each decile?\" The results show that if you invested at the most common decile (8.1x to 8.8), you would have earned a 15% return over one year and 35% over five years.\nThose subsequent returns start to fall once the EV/EBTIDA rises above this decile (buying an expensive market means less gain). And most importantly, when the market trades in the most expensive decile (where we are now), subsequent 1, 2, and 3 returns were negative. An investor would have to wait five years to get a return only slightly above zero. A fundamental investor would consider this information and have a relatively negative view of the stock market.\n.\n\nRecent EPS collapse has been much shorter time\nThe next chart considers the five main falls in earnings per share since 1900. One conclusion is that the fall in EPS has become less protracted. The Great Depression saw a four-year decline in earnings, while earnings fell for only 2 years from the 2000 peak and the 2007 peak. It is also fascinating to see that there was only a 20% fall in earnings in 2020, and that fall only happened over one year (2021 earnings are recovering).\nA fundamental investor could look at this chart and think that the recent crisis was quite minimal. This is partly because some sectors (info tech), some quality (high cash companies) and some size (large) companies did very well during this recent crisis. In addition, since many small or weak companies got destroyed, the supply of products and services has been reduced, which leads to strong pricing power for those that remain.\n\nMargin recovery is in place\nThe net margins of corporate America have been on the rise since 1990. Over the past decade, they have averaged about 8%. The shaded areas on this chart show the period from peak to trough of net margin. The most significant thing about this chart is that the margin collapse is done and the margin recovery is underway. It is debatable whether the margin can recover to the prior peaks, but it is not unreasonable to say that the margin recovery has further to go. This could be positive for the US stock market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170351485,"gmtCreate":1626406686447,"gmtModify":1631892992996,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Yes like","listText":"Yes like","text":"Yes like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170351485","repostId":"1126289564","repostType":4,"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144420715,"gmtCreate":1626310999237,"gmtModify":1631892993007,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144420715","repostId":"1150635961","repostType":4,"repost":{"id":"1150635961","kind":"news","pubTimestamp":1626310286,"share":"https://www.laohu8.com/m/news/1150635961?lang=&edition=full","pubTime":"2021-07-15 08:51","market":"sg","language":"en","title":"Plant-based chicken meat company in Singapore secures funds to enter US","url":"https://stock-news.laohu8.com/highlight/detail?id=1150635961","media":"Bloomberg","summary":"[SINGAPORE] Plant-based chicken maker Next Gen Foods raised US$20 million from investors including G","content":"<p>[SINGAPORE] Plant-based chicken maker Next Gen Foods raised US$20 million from investors including GGV Capital, Bits X Bites and food and beverage maker Yeo Hiap Seng to enter the US, the world's biggest market for plant-based foods.</p>\n<p>Existing backers including Temasek Holdings and K3 Ventures joined new investors including author Chris Yeh and football player Dele Alli in the startup's extended seed round. The additional capital, which brought the entire seed round to US$30 million, valued the firm at almost US$180 million from about US$40 million in February, according to the company.</p>\n<p>The Singapore-based startup plans to use the fresh capital to enter the US retail market in the next 12 months.</p>\n<p>\"The US market entry reflects our goal of becoming the world's number-one plant-based chicken,\" Andre Menezes, co-founder and former chief operating officer who was recently named chief executive officer.</p>\n<p>Rohit Bhattacharya, who was previously director at Temasek, has joined the firm as chief financial officer, while former CEO Timo Recker became chairman.</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>Plant-based chicken meat company in Singapore secures funds to enter US</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\">\nPlant-based chicken meat company in Singapore secures funds to enter US\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-15 08:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/garage/plant-based-chicken-meat-company-in-singapore-secures-funds-to-enter-us><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[SINGAPORE] Plant-based chicken maker Next Gen Foods raised US$20 million from investors including GGV Capital, Bits X Bites and food and beverage maker Yeo Hiap Seng to enter the US, the world's ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/garage/plant-based-chicken-meat-company-in-singapore-secures-funds-to-enter-us\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.businesstimes.com.sg/garage/plant-based-chicken-meat-company-in-singapore-secures-funds-to-enter-us","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150635961","content_text":"[SINGAPORE] Plant-based chicken maker Next Gen Foods raised US$20 million from investors including GGV Capital, Bits X Bites and food and beverage maker Yeo Hiap Seng to enter the US, the world's biggest market for plant-based foods.\nExisting backers including Temasek Holdings and K3 Ventures joined new investors including author Chris Yeh and football player Dele Alli in the startup's extended seed round. The additional capital, which brought the entire seed round to US$30 million, valued the firm at almost US$180 million from about US$40 million in February, according to the company.\nThe Singapore-based startup plans to use the fresh capital to enter the US retail market in the next 12 months.\n\"The US market entry reflects our goal of becoming the world's number-one plant-based chicken,\" Andre Menezes, co-founder and former chief operating officer who was recently named chief executive officer.\nRohit Bhattacharya, who was previously director at Temasek, has joined the firm as chief financial officer, while former CEO Timo Recker became chairman.","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144819962,"gmtCreate":1626274646656,"gmtModify":1631892993020,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144819962","repostId":"2151551418","repostType":4,"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142486411,"gmtCreate":1626168447433,"gmtModify":1631892993031,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/142486411","repostId":"1101566017","repostType":4,"repost":{"id":"1101566017","kind":"news","pubTimestamp":1626132937,"share":"https://www.laohu8.com/m/news/1101566017?lang=&edition=full","pubTime":"2021-07-13 07:35","market":"us","language":"en","title":"How earnings season is likely to play out in the coming weeks and its impact on the stock market","url":"https://stock-news.laohu8.com/highlight/detail?id=1101566017","media":"cnbc","summary":"The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.Earnings growth in the second quarter is expected to be a stunning 66%, as companies compare their results to the depressed period last year when the pandemic abruptly shut down the economy, according to Refinitiv data.“If you listen to what the CFOs are going to say, you’re going to think the earnings are terrible, but if","content":"<div>\n<p>The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.\nEarnings growth in the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How earnings season is likely to play out in the coming weeks and its impact on the stock market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow earnings season is likely to play out in the coming weeks and its impact on the stock market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 07:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.\nEarnings growth in the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1101566017","content_text":"The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.\nEarnings growth in the second quarter is expected to be a stunning 66%, as companies compare their results to the depressed period last year when the pandemic abruptly shut down the economy, according to Refinitiv data.\nNormally a profit leader, the technology sector this quarter, is expected to see just 32% profit growth, according to Refiniv. That compares to shockingly large estimated increases in industrial sector profits of more than 570%, and energy industry profits, up 220%. Earnings for the financial and materials sectors are expected to be up more than 100% each.\nThose huge gains and expected earnings beats should be a positive for some cyclical stocks this quarter. Earnings season kicks off Tuesday with reports fromJPMorgan Chase,Goldman Sachs,andPepsiCo.\nThis earnings season will be the period where the tug of war that’s been a factor in the stock market, between cyclical and growth trades, is due to play out very clearly in the earnings numbers. Inflationary pressures, negative for tech stock performance, are expected to help boost cyclical earnings growth in the rebound, as companies face rising input costs but also up their prices.\n“I think what you’re going to see is a very unusual kind of contradiction between the data and the narrative,” said Jonathan Golub, chief U.S. equity strategist at Credit Suisse. “What companies are going to say is they are facing shortages and rising input costs and other things which are constraints to their success. And then what you’re going to see is massive beats and the biggest portions coming from higher margins. They’re not going to try to reconcile it.”\nGolub expects companies to provide detail on rising costs and supply shortages but not as much information on how much they are raising prices or how broadly.\n“If you listen to what the CFOs are going to say, you’re going to think the earnings are terrible, but if you look at the results, they’re going to be magnificent,” he said.\nBut ultimately, it’s tech and growth that will prove to be the best performers profit-wise over the long haul. “Their own earnings revisions for themselves are still good. They’re not deteriorating. They’re solid. They’re not getting worse. They’re not accelerating in this ridiculous way. They’re on the same solid trajectory they’ve been on,” said Brian Rauscher, Fundstrat head of global portfolio strategy.\nRauscher expects the trend to revert back to tech as the better earnings performer in two quarters from now, when cyclical airline stocks or industrial stocks like Caterpillar will see earnings growth back in the single digits. “Tech will keep growing at 25%,” he said.\nHe says economic growth will have slowed to a more normalized and sustained pace. By then it will be more apparent whether inflation is temporary or not.\n“If they are unable to pass along price increases, it will hit the earnings,” he said.\nGolub points out that tech profits in last year’s second quarter actually increased by 3.3% from 2019, as cyclical earnings plunged 85% in the same period. The 2021 second quarter earnings growth estimate for tech is 34.2%, while some cyclical earnings will rebound by more than 570% just to get back to even with 2019.\n“It says one of these is a near term trade, and one of them is a long term trade,” said Golub. “Once the supply chain issues are gone, [cyclicals] are going to be unimpressive.”\nEven with the push pull of tech and growth versus cyclical trades, strategists say the earning season should be good for the stock market.\n“I think the numbers will be very good, and it’ll be supportive for markets,” said Rauscher. He said some investors may be concerned that a peak period of earnings this quarter will lead to a market decline but he doesn’t expect that to be the case.\n“Obviously, the numbers are going to be outsized because we have that weird comparison from last year. I think the important thing is going to be the return of guidance,” Rauscher said. Both he and Golub say they expect earnings to beat to the upside.\n“I think the analysts have underestimated the improvement in operating leverage,” Rauscher said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148238892,"gmtCreate":1625976961816,"gmtModify":1631892993041,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148238892","repostId":"1106289851","repostType":4,"repost":{"id":"1106289851","kind":"news","pubTimestamp":1625972710,"share":"https://www.laohu8.com/m/news/1106289851?lang=&edition=full","pubTime":"2021-07-11 11:05","market":"us","language":"en","title":"PepsiCo Reports Earnings Next Week. Buy the Stock Now, Analyst Says.","url":"https://stock-news.laohu8.com/highlight/detail?id=1106289851","media":"Barrons","summary":"A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday:","content":"<p>A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday: She’s making a buy recommendation now.</p>\n<p>On Friday, Cowen &amp; Co. analyst Vivien Azer reiterated an Outperform rating and $165 price target on PepsiCo (ticker: PEP). She’s modeling for the company to earn $1.51 a share, 2 cents below the average analyst estimate—although she notes that figure could be conservative—and organic revenue growth of 8.6%.</p>\n<p>Azer expects Frito Lay North America’s organic revenue growth to be 4%, and notes the division is holding up well despite difficult year-over-year comparisons when more consumers were snacking at home during Covid-19 restrictions.</p>\n<p>The analyst believes Pepsi’s North American beverage business, by contrast, will see its easiest comparison of the year in the second quarter, and points out that recent data shows it may be pulling ahead of Coca-Cola (KO) in terms of sales growth.</p>\n<p>Also, overall Covid-related costs should be down because of a strong vaccine rollout in the U.S., which accounts for nearly two-thirds of Pepsi’s profits. Still, Azer wrote, the lingering pandemic threat in Latin America could be a headwind in that region.</p>\n<p>Other analysts have been&nbsp;optimistic about Pepsi’s earnings&nbsp;as well. A little over half of the 23 tracked by FactSet rate it at Buy or the equivalent, with 43% on the sidelines and one bearish call. The average analyst price target is $156.02.</p>\n<p>Consensus calls for Pepsi to earn $1.53 a share on revenue of $17.97 billion. That’s up from EPS of $1.21 and revenue of $14.82 billion in the&nbsp;previous quarter, reported in April. Pepsi’s EPS hasn’t missed quarterly expectations in the past five years.</p>\n<p>Pepsi will host a conference call at 8:15 a.m. Eastern time Tuesday.</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>PepsiCo Reports Earnings Next Week. Buy the Stock Now, Analyst Says.</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\">\nPepsiCo Reports Earnings Next Week. Buy the Stock Now, Analyst Says.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/pepsico-reports-earnings-next-week-buy-the-stock-now-analyst-says-51625863176?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday: She’s making a buy recommendation now.\nOn Friday, Cowen & Co. analyst Vivien Azer reiterated an ...</p>\n\n<a href=\"https://www.barrons.com/articles/pepsico-reports-earnings-next-week-buy-the-stock-now-analyst-says-51625863176?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PEP":"百事可乐"},"source_url":"https://www.barrons.com/articles/pepsico-reports-earnings-next-week-buy-the-stock-now-analyst-says-51625863176?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106289851","content_text":"A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday: She’s making a buy recommendation now.\nOn Friday, Cowen & Co. analyst Vivien Azer reiterated an Outperform rating and $165 price target on PepsiCo (ticker: PEP). She’s modeling for the company to earn $1.51 a share, 2 cents below the average analyst estimate—although she notes that figure could be conservative—and organic revenue growth of 8.6%.\nAzer expects Frito Lay North America’s organic revenue growth to be 4%, and notes the division is holding up well despite difficult year-over-year comparisons when more consumers were snacking at home during Covid-19 restrictions.\nThe analyst believes Pepsi’s North American beverage business, by contrast, will see its easiest comparison of the year in the second quarter, and points out that recent data shows it may be pulling ahead of Coca-Cola (KO) in terms of sales growth.\nAlso, overall Covid-related costs should be down because of a strong vaccine rollout in the U.S., which accounts for nearly two-thirds of Pepsi’s profits. Still, Azer wrote, the lingering pandemic threat in Latin America could be a headwind in that region.\nOther analysts have been optimistic about Pepsi’s earnings as well. A little over half of the 23 tracked by FactSet rate it at Buy or the equivalent, with 43% on the sidelines and one bearish call. The average analyst price target is $156.02.\nConsensus calls for Pepsi to earn $1.53 a share on revenue of $17.97 billion. That’s up from EPS of $1.21 and revenue of $14.82 billion in the previous quarter, reported in April. Pepsi’s EPS hasn’t missed quarterly expectations in the past five years.\nPepsi will host a conference call at 8:15 a.m. Eastern time Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141016755,"gmtCreate":1625823893877,"gmtModify":1631892993051,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141016755","repostId":"1159463430","repostType":4,"repost":{"id":"1159463430","kind":"news","pubTimestamp":1625821930,"share":"https://www.laohu8.com/m/news/1159463430?lang=&edition=full","pubTime":"2021-07-09 17:12","market":"us","language":"en","title":"Treasury yields rise but the 30-year rate remains below 1.30%","url":"https://stock-news.laohu8.com/highlight/detail?id=1159463430","media":"CNBC","summary":"U.S. Treasury yields rose on Friday morning, but the 30-year rate remained below 1.30% amid concerns","content":"<div>\n<p>U.S. Treasury yields rose on Friday morning, but the 30-year rate remained below 1.30% amid concerns about the economic recovery from the coronavirus pandemic.\nThe yield on the benchmark10-year ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/09/us-bonds-treasury-yields-rise-but-30-year-rate-remains-below-1point30percent.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Treasury yields rise but the 30-year rate remains below 1.30%</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; 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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\">\nTreasury yields rise but the 30-year rate remains below 1.30%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 17:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/09/us-bonds-treasury-yields-rise-but-30-year-rate-remains-below-1point30percent.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. Treasury yields rose on Friday morning, but the 30-year rate remained below 1.30% amid concerns about the economic recovery from the coronavirus pandemic.\nThe yield on the benchmark10-year ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/09/us-bonds-treasury-yields-rise-but-30-year-rate-remains-below-1point30percent.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/09/us-bonds-treasury-yields-rise-but-30-year-rate-remains-below-1point30percent.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159463430","content_text":"U.S. Treasury yields rose on Friday morning, but the 30-year rate remained below 1.30% amid concerns about the economic recovery from the coronavirus pandemic.\nThe yield on the benchmark10-year Treasury noteclimbed 4.3 basis points to 1.331% at 4:45 a.m. ET. The yield on the30-year Treasury bondadvanced by 5.6 basis points to 1.966%. Yields move inversely to prices and 1 basis point equals 0.01 percentage points.\nTREASURYS\n\n\n\nTICKER\nCOMPANY\nYIELD\nCHANGE\n%CHANGE\n\n\n\n\nUS3M\nU.S. 3 Month Treasury\n0.061\n0.008\n0.00\n\n\nUS1Y\nU.S. 1 Year Treasury\n0.074\n0.011\n0.00\n\n\nUS2Y\nU.S. 2 Year Treasury\n0.207\n0.015\n0.00\n\n\nUS5Y\nU.S. 5 Year Treasury\n0.769\n0.032\n0.00\n\n\nUS10Y\nU.S. 10 Year Treasury\n1.333\n0.045\n0.00\n\n\nUS30Y\nU.S. 30 Year Treasury\n1.968\n0.058\n0.00\n\n\n\nTreasury yields have been falling this past week, with the spread of the more transmissible delta Covid-19 variant dampening sentiment.\nIn addition, the Labor Department's weekly jobless claims data showed anunexpected jump in first-time applicantsin the week ended July 3. The data, released on Thursday, showed 373,000 unemployment insurance claims were filed last week, above economists' forecast of 350,000 initial claims.\nDavid Marchant, chief investment officer at Canada Life Asset Management, told CNBC's \"Squawk Box Europe\" on Friday that he believed that the \"risk that inflation isn't controlled, that it does start to accelerate is not reflected in where government bonds, or bonds generally are trading.\"\nThere are no major economic data releases or Treasury auctions scheduled for Friday.\nOver the weekend, Federal Reserve vice chair for supervision Randal Quarles is due to make a speech on the central bank's financial stability board and climate change at the Venice International Conference on Climate Change, at 9:20 a.m. ET on Sunday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":118,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":174287564,"gmtCreate":1627101838058,"gmtModify":1631890801693,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/174287564","repostId":"1151500518","repostType":4,"repost":{"id":"1151500518","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627092269,"share":"https://www.laohu8.com/m/news/1151500518?lang=&edition=full","pubTime":"2021-07-24 10:04","market":"us","language":"en","title":"Tencent was ordered to remove the exclusive copyright of online music","url":"https://stock-news.laohu8.com/highlight/detail?id=1151500518","media":"Tiger Newspress","summary":"The China market supervision administration made an administrative punishment decision according to ","content":"<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p>\n<p>This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p>\n<p>Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</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>Tencent was ordered to remove the exclusive copyright of online music</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\">\nTencent was ordered to remove the exclusive copyright of online music\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-24 10:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.</p>\n<p>This case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.</p>\n<p>Tencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TME":"腾讯音乐","00700":"腾讯控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151500518","content_text":"The China market supervision administration made an administrative punishment decision according to law, ordering Tencent and its affiliated companies to take measures to restore the state of market competition, such as canceling the exclusive music copyright within 30 days, stopping the payment of copyright fees such as high prepayment, and not requiring the upstream copyright party to give conditions superior to its competitors without justified reasons. Tencent will report the performance of its obligations to the State Administration of market supervision every year within three years, and the State Administration of market supervision will strictly supervise its implementation according to law.\nThis case is the first case in which necessary measures have been taken to restore the state of market competition for the illegal implementation of business concentration since the implementation of China's anti-monopoly law.\nTencent responded that the company will seriously abide by the decision, strictly implement the regulatory requirements, operate in accordance with the law, earnestly fulfill its social responsibility and maintain benign competition in the market. Tencent will take full responsibility, formulate rectification measures and plans with Tencent music and other affiliated companies within the specified time limit, and complete them completely in accordance with the requirements of the punishment decision to ensure that the rectification is in place.","news_type":1},"isVote":1,"tweetType":1,"viewCount":246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142486411,"gmtCreate":1626168447433,"gmtModify":1631892993031,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/142486411","repostId":"1101566017","repostType":4,"repost":{"id":"1101566017","kind":"news","pubTimestamp":1626132937,"share":"https://www.laohu8.com/m/news/1101566017?lang=&edition=full","pubTime":"2021-07-13 07:35","market":"us","language":"en","title":"How earnings season is likely to play out in the coming weeks and its impact on the stock market","url":"https://stock-news.laohu8.com/highlight/detail?id=1101566017","media":"cnbc","summary":"The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.Earnings growth in the second quarter is expected to be a stunning 66%, as companies compare their results to the depressed period last year when the pandemic abruptly shut down the economy, according to Refinitiv data.“If you listen to what the CFOs are going to say, you’re going to think the earnings are terrible, but if","content":"<div>\n<p>The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.\nEarnings growth in the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How earnings season is likely to play out in the coming weeks and its impact on the stock market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow earnings season is likely to play out in the coming weeks and its impact on the stock market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-13 07:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.\nEarnings growth in the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/12/how-earnings-season-is-likely-to-play-out-in-the-coming-weeks-and-its-impact-on-the-stock-market.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1101566017","content_text":"The great cyclical rebound is about to get underway with outsized gains expected in the quarterly profits of industrial, consumer discretionary, energy and materials companies.\nEarnings growth in the second quarter is expected to be a stunning 66%, as companies compare their results to the depressed period last year when the pandemic abruptly shut down the economy, according to Refinitiv data.\nNormally a profit leader, the technology sector this quarter, is expected to see just 32% profit growth, according to Refiniv. That compares to shockingly large estimated increases in industrial sector profits of more than 570%, and energy industry profits, up 220%. Earnings for the financial and materials sectors are expected to be up more than 100% each.\nThose huge gains and expected earnings beats should be a positive for some cyclical stocks this quarter. Earnings season kicks off Tuesday with reports fromJPMorgan Chase,Goldman Sachs,andPepsiCo.\nThis earnings season will be the period where the tug of war that’s been a factor in the stock market, between cyclical and growth trades, is due to play out very clearly in the earnings numbers. Inflationary pressures, negative for tech stock performance, are expected to help boost cyclical earnings growth in the rebound, as companies face rising input costs but also up their prices.\n“I think what you’re going to see is a very unusual kind of contradiction between the data and the narrative,” said Jonathan Golub, chief U.S. equity strategist at Credit Suisse. “What companies are going to say is they are facing shortages and rising input costs and other things which are constraints to their success. And then what you’re going to see is massive beats and the biggest portions coming from higher margins. They’re not going to try to reconcile it.”\nGolub expects companies to provide detail on rising costs and supply shortages but not as much information on how much they are raising prices or how broadly.\n“If you listen to what the CFOs are going to say, you’re going to think the earnings are terrible, but if you look at the results, they’re going to be magnificent,” he said.\nBut ultimately, it’s tech and growth that will prove to be the best performers profit-wise over the long haul. “Their own earnings revisions for themselves are still good. They’re not deteriorating. They’re solid. They’re not getting worse. They’re not accelerating in this ridiculous way. They’re on the same solid trajectory they’ve been on,” said Brian Rauscher, Fundstrat head of global portfolio strategy.\nRauscher expects the trend to revert back to tech as the better earnings performer in two quarters from now, when cyclical airline stocks or industrial stocks like Caterpillar will see earnings growth back in the single digits. “Tech will keep growing at 25%,” he said.\nHe says economic growth will have slowed to a more normalized and sustained pace. By then it will be more apparent whether inflation is temporary or not.\n“If they are unable to pass along price increases, it will hit the earnings,” he said.\nGolub points out that tech profits in last year’s second quarter actually increased by 3.3% from 2019, as cyclical earnings plunged 85% in the same period. The 2021 second quarter earnings growth estimate for tech is 34.2%, while some cyclical earnings will rebound by more than 570% just to get back to even with 2019.\n“It says one of these is a near term trade, and one of them is a long term trade,” said Golub. “Once the supply chain issues are gone, [cyclicals] are going to be unimpressive.”\nEven with the push pull of tech and growth versus cyclical trades, strategists say the earning season should be good for the stock market.\n“I think the numbers will be very good, and it’ll be supportive for markets,” said Rauscher. He said some investors may be concerned that a peak period of earnings this quarter will lead to a market decline but he doesn’t expect that to be the case.\n“Obviously, the numbers are going to be outsized because we have that weird comparison from last year. I think the important thing is going to be the return of guidance,” Rauscher said. Both he and Golub say they expect earnings to beat to the upside.\n“I think the analysts have underestimated the improvement in operating leverage,” Rauscher said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802140569,"gmtCreate":1627740047751,"gmtModify":1631890801677,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802140569","repostId":"1147779023","repostType":4,"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177891380,"gmtCreate":1627192889440,"gmtModify":1631890801690,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Hello","listText":"Hello","text":"Hello","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/177891380","repostId":"2153936352","repostType":4,"repost":{"id":"2153936352","kind":"highlight","pubTimestamp":1627180340,"share":"https://www.laohu8.com/m/news/2153936352?lang=&edition=full","pubTime":"2021-07-25 10:32","market":"us","language":"en","title":"Will Square Be Worth More Than PayPal by 2025?","url":"https://stock-news.laohu8.com/highlight/detail?id=2153936352","media":"Motley Fool","summary":"Could the ambitious fintech company overtake the market leader?","content":"<p><b>Square</b> (NYSE:SQ) and <b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a></b> (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at around $260. PayPal, which was spun off from<b> <a href=\"https://laohu8.com/S/EBAY\">eBay</a> </b>(NASDAQ:EBAY) earlier that year, has advanced more than 720% since its debut to over $300 per share.</p>\n<p>Square is worth nearly $120 billion as of this writing, while PayPal is worth over $350 billion. That isn't surprising, since PayPal still serves a much larger audience and operates in more countries than Square. But gazing into the future, could Square eventually match -- or even surpass -- PayPal's valuation by 2025? Let's examine both fintech companies' growth trajectories and valuations to find out.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3384d45efb17ed54b398c7dbcc043fb\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2><b>Wild ambitions vs. stable growth</b></h2>\n<p>Square and PayPal's core business models are similar. Both companies charge businesses flat fees, which vary by platform and transaction type, to process payments. Both companies offer small business loans. Square's Cash App and PayPal's Venmo both enable consumers to make peer-to-peer payments, and both companies provide branded debit cards that are linked to users' online accounts.</p>\n<p>But Square has been willing to take bolder risks than PayPal over the past few years. It expanded its services ecosystem with online payroll management services and analytics tools, and recently launched a full suite of online banking services. Square also added <b>Bitcoin</b> (CRYPTO:BTC) purchases to its Cash App in 2018, added free stock trades to the app to challenge Robinhood in 2019, and plans to add Credit Karma's tax filing services to its ecosystem in the near future.</p>\n<p>PayPal only started offering cryptocurrency trades last October, and it doesn't have any near-term plans to launch stock trading tools or dedicated tax filing services, or expand into a full-blown online bank like Square. Simply put, Square seems to have wilder and grander ambitions than PayPal.</p>\n<h2>Which company is growing faster?</h2>\n<p>Between 2015 and 2020, Square grew its annual revenue at a CAGR of 49.6%. Excluding its massive gain in Bitcoin revenue last year, it would still have grown its revenue at a CAGR of 31.2% over the past five years. PayPal's annual revenue grew at a CAGR of 18.5% between 2015 and 2020. Let's take a look at Wall Street's expectations for both companies over the next two years.</p>\n<table border=\"1\" width=\"600\">\n <colgroup></colgroup>\n <tbody>\n  <tr valign=\"TOP\">\n   <th width=\"118\"><p>Company</p></th>\n   <th width=\"213\"><p>Estimated Sales Growth (FY 2021)</p></th>\n   <th width=\"225\"><p>Estimated Sales Growth(FY 2022)</p></th>\n  </tr>\n  <tr valign=\"TOP\">\n   <td width=\"118\"><p><b>Square</b></p></td>\n   <td width=\"213\"><p>110.6%</p></td>\n   <td width=\"225\"><p>14.1%</p></td>\n  </tr>\n  <tr valign=\"TOP\">\n   <td width=\"118\"><p><b>PayPal</b></p></td>\n   <td width=\"213\"><p>20.6%</p></td>\n   <td width=\"225\"><p>21.5%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: Yahoo Finance, July 22.</p>\n<p>Analysts expect Square's Bitcoin revenue to continue rising this year before cooling off next year. They also expect its growth in transaction-based and seller service revenue, which slowed down during the pandemic, to recover as more businesses reopen. The Cash App, which grew its monthly active users 50% to 36 million in 2020, should also keep expanding as Square adds new services.</p>\n<p>Cathie Wood's ARK Invest expects Square's transaction-based and seller service revenues to grow at a CAGR of 19% through 2025. It also expects the Cash App's MAUs to more than double to 75 million, for Square to monetize roughly 40% of those users, and for its average revenue per Cash App user to grow from $25 in 2019 to $260 in 2025 -- which would represent a whopping CAGR of 49%.</p>\n<p>PayPal's growth should remain more predictable, since it doesn't generate significant revenue from cryptocurrencies yet. Instead, it will mainly rely on its growth in active accounts, which rose 21% year-over-year to 392 million last quarter, to generate stable revenue from its processing fees.</p>\n<p>PayPal expects to nearly double its active accounts to 750 million and <i>more than double</i> its annual revenue to over $50 billion by 2025. It also plans to grow its earnings at a CAGR of 22% from 2020 to 2025. It believes the rising acceptance of QR codes and NFC payments, the expansion of its financial services, and higher engagement rates for its apps will all drive that long-term growth.</p>\n<h2>Will Square be worth more than PayPal by 2025?</h2>\n<p>In a best-case scenario, ARK Invest believes Square's stock could hit $500 per share by 2025 if it hits its growth targets. But unlike PayPal, Square hasn't provided any concrete targets of its own yet.</p>\n<p>If Square hits $500 and its valuations hold steady, it could be worth just over $200 billion by 2025. Meanwhile, if PayPal achieves its goals of more than doubling its annual revenue and growing its EPS at a CAGR of 22% through 2025, its stock could easily double and boost its market cap to $700 billion.</p>\n<p>Therefore, it's doubtful that Square -- which already trades at higher valuations than PayPal -- will be the more valuable company by 2025. But that doesn't mean PayPal is necessarily a better growth stock than Square. I personally own Square instead of PayPal, because I admire its ambitious and forward-thinking strategies. Both stocks are still great long-term investments on the booming fintech market, so investors shouldn't fret too much over which company has the higher market cap.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will Square Be Worth More Than PayPal by 2025?</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\">\nWill Square Be Worth More Than PayPal by 2025?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-25 10:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Square (NYSE:SQ) and PayPal (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal","SQ":"Block"},"source_url":"https://www.fool.com/investing/2021/07/24/will-square-be-worth-more-than-paypal-by-2025/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153936352","content_text":"Square (NYSE:SQ) and PayPal (NASDAQ:PYPL) have both generated massive returns for patient investors over the past few years. Square went public at $9 per share in late 2015, and it's now trading at around $260. PayPal, which was spun off from eBay (NASDAQ:EBAY) earlier that year, has advanced more than 720% since its debut to over $300 per share.\nSquare is worth nearly $120 billion as of this writing, while PayPal is worth over $350 billion. That isn't surprising, since PayPal still serves a much larger audience and operates in more countries than Square. But gazing into the future, could Square eventually match -- or even surpass -- PayPal's valuation by 2025? Let's examine both fintech companies' growth trajectories and valuations to find out.\nImage source: Getty Images.\nWild ambitions vs. stable growth\nSquare and PayPal's core business models are similar. Both companies charge businesses flat fees, which vary by platform and transaction type, to process payments. Both companies offer small business loans. Square's Cash App and PayPal's Venmo both enable consumers to make peer-to-peer payments, and both companies provide branded debit cards that are linked to users' online accounts.\nBut Square has been willing to take bolder risks than PayPal over the past few years. It expanded its services ecosystem with online payroll management services and analytics tools, and recently launched a full suite of online banking services. Square also added Bitcoin (CRYPTO:BTC) purchases to its Cash App in 2018, added free stock trades to the app to challenge Robinhood in 2019, and plans to add Credit Karma's tax filing services to its ecosystem in the near future.\nPayPal only started offering cryptocurrency trades last October, and it doesn't have any near-term plans to launch stock trading tools or dedicated tax filing services, or expand into a full-blown online bank like Square. Simply put, Square seems to have wilder and grander ambitions than PayPal.\nWhich company is growing faster?\nBetween 2015 and 2020, Square grew its annual revenue at a CAGR of 49.6%. Excluding its massive gain in Bitcoin revenue last year, it would still have grown its revenue at a CAGR of 31.2% over the past five years. PayPal's annual revenue grew at a CAGR of 18.5% between 2015 and 2020. Let's take a look at Wall Street's expectations for both companies over the next two years.\n\n\n\n\nCompany\nEstimated Sales Growth (FY 2021)\nEstimated Sales Growth(FY 2022)\n\n\nSquare\n110.6%\n14.1%\n\n\nPayPal\n20.6%\n21.5%\n\n\n\nSource: Yahoo Finance, July 22.\nAnalysts expect Square's Bitcoin revenue to continue rising this year before cooling off next year. They also expect its growth in transaction-based and seller service revenue, which slowed down during the pandemic, to recover as more businesses reopen. The Cash App, which grew its monthly active users 50% to 36 million in 2020, should also keep expanding as Square adds new services.\nCathie Wood's ARK Invest expects Square's transaction-based and seller service revenues to grow at a CAGR of 19% through 2025. It also expects the Cash App's MAUs to more than double to 75 million, for Square to monetize roughly 40% of those users, and for its average revenue per Cash App user to grow from $25 in 2019 to $260 in 2025 -- which would represent a whopping CAGR of 49%.\nPayPal's growth should remain more predictable, since it doesn't generate significant revenue from cryptocurrencies yet. Instead, it will mainly rely on its growth in active accounts, which rose 21% year-over-year to 392 million last quarter, to generate stable revenue from its processing fees.\nPayPal expects to nearly double its active accounts to 750 million and more than double its annual revenue to over $50 billion by 2025. It also plans to grow its earnings at a CAGR of 22% from 2020 to 2025. It believes the rising acceptance of QR codes and NFC payments, the expansion of its financial services, and higher engagement rates for its apps will all drive that long-term growth.\nWill Square be worth more than PayPal by 2025?\nIn a best-case scenario, ARK Invest believes Square's stock could hit $500 per share by 2025 if it hits its growth targets. But unlike PayPal, Square hasn't provided any concrete targets of its own yet.\nIf Square hits $500 and its valuations hold steady, it could be worth just over $200 billion by 2025. Meanwhile, if PayPal achieves its goals of more than doubling its annual revenue and growing its EPS at a CAGR of 22% through 2025, its stock could easily double and boost its market cap to $700 billion.\nTherefore, it's doubtful that Square -- which already trades at higher valuations than PayPal -- will be the more valuable company by 2025. But that doesn't mean PayPal is necessarily a better growth stock than Square. I personally own Square instead of PayPal, because I admire its ambitious and forward-thinking strategies. Both stocks are still great long-term investments on the booming fintech market, so investors shouldn't fret too much over which company has the higher market cap.","news_type":1},"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176304039,"gmtCreate":1626859033021,"gmtModify":1631892992947,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/176304039","repostId":"1192426531","repostType":4,"repost":{"id":"1192426531","kind":"news","pubTimestamp":1626858599,"share":"https://www.laohu8.com/m/news/1192426531?lang=&edition=full","pubTime":"2021-07-21 17:09","market":"uk","language":"en","title":"Revolut Becomes UK's Biggest Unicorn","url":"https://stock-news.laohu8.com/highlight/detail?id=1192426531","media":"zerohedge","summary":"Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Glob","content":"<p><b>Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Global Management, UK-based&nbsp;fintech&nbsp;company Revolut is now valued at $33 billion</b>, making it the biggest 'unicorn' in the country as well as the highest-valued fintech company.</p>\n<p>As reported by Reuters, \"Revolut has won more than 16 million customers with products including foreign exchange, stock trading and cryptocurrencies, undercutting mainstream banks' prices.\"</p>\n<p>However,as Statista's Martin Armstrong notes,<i><b>\"it has yet to translate that rapid growth into profitability, with its annual losses doubling last financial year on investment in risk controls.\"</b></i></p>\n<p>Second on the list of the UK's most valuable unicorns, as compiled byCB Insights, is another fintech company - checkout.com - which reached its $15 billion valuation after raising $450 million at the beginning of the year, again led by Tiger Global Management.</p>\n<p><img src=\"https://static.tigerbbs.com/63080ab1bf0f6d0624138655b5f695b2\" tg-width=\"1200\" tg-height=\"1200\" width=\"100%\" height=\"auto\"><i>You will find more infographics atStatista</i></p>\n<p><b>Checkout and Revolut are now up there with the most valuable fintech companies in the world.</b></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>Revolut Becomes UK's Biggest Unicorn</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\">\nRevolut Becomes UK's Biggest Unicorn\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-21 17:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/revolut-becomes-uks-biggest-unicorn><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Global Management, UK-based fintech company Revolut is now valued at $33 billion, making it the biggest ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/revolut-becomes-uks-biggest-unicorn\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/revolut-becomes-uks-biggest-unicorn","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192426531","content_text":"Having managed to raise $800 million in a funding round led by Softbank's Vision Fund and Tiger Global Management, UK-based fintech company Revolut is now valued at $33 billion, making it the biggest 'unicorn' in the country as well as the highest-valued fintech company.\nAs reported by Reuters, \"Revolut has won more than 16 million customers with products including foreign exchange, stock trading and cryptocurrencies, undercutting mainstream banks' prices.\"\nHowever,as Statista's Martin Armstrong notes,\"it has yet to translate that rapid growth into profitability, with its annual losses doubling last financial year on investment in risk controls.\"\nSecond on the list of the UK's most valuable unicorns, as compiled byCB Insights, is another fintech company - checkout.com - which reached its $15 billion valuation after raising $450 million at the beginning of the year, again led by Tiger Global Management.\nYou will find more infographics atStatista\nCheckout and Revolut are now up there with the most valuable fintech companies in the world.","news_type":1},"isVote":1,"tweetType":1,"viewCount":138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179777215,"gmtCreate":1626581671837,"gmtModify":1631892992980,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179777215","repostId":"1139907709","repostType":4,"repost":{"id":"1139907709","kind":"news","pubTimestamp":1626568617,"share":"https://www.laohu8.com/m/news/1139907709?lang=&edition=full","pubTime":"2021-07-18 08:36","market":"hk","language":"en","title":"Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World","url":"https://stock-news.laohu8.com/highlight/detail?id=1139907709","media":"Benzinga","summary":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Q","content":"<p><i>Does crime pay?</i></p>\n<p>In August 1988, French authorities arrested an American expatriate named&nbsp;<b>Thomas F. Quinn</b>&nbsp;for orchestrating a global securities scheme that defrauded investors out of $500 million.</p>\n<p>As an unapologetic financial miscreant with a lifelong penchant for fraud, the French escapade represented something of a career peak for Quinn, whose flair of swindling took on an astonishing level of organizing that left no corner of the world untouched.</p>\n<p><b>Illusory Assets For Sale:</b>Thomas Francis Quinn was born in Brooklyn in 1932; his father drove a cement truck and his mother was a housewife who made extra money selling clothing and jewelry from the family’s garage.</p>\n<p>Quinn was an altar boy in his childhood and was the first member of his family to pursue higher education, graduating from St. John’s University Law School and passing the bar in 1962.</p>\n<p>Quinn opted to go into business for himself, starting a brokerage firm in New York called&nbsp;<b>Thomas, Williams &amp; Lee.</b>The main focus of this firm became the promotion of&nbsp;<b>Kent Industries,</b>a company that claimed to own Florida property valued at $2 million.</p>\n<p>There was a slight problem —&nbsp;Kent Industries didn’t own anything in the Sunshine State, and this inconvenient fact helped to introduce Quinn to the U.S. Securities and Exchange Commission (SEC).</p>\n<p>Long story short: Quinn received a lifetime banishment from the SEC in 1966 from doing business with brokers and dealers thanks to what the agency defined as his “flagrant fraudulent practices” related to the Kent Industries assets, which the regulator considered to be “almost completely illusory.”</p>\n<p>The U.S. Department of Justice (DOJ) was a bit slower in dealing with Quinn, but by 1970 he was sent to jail for six months and was later permanently disbarred from practicing law.</p>\n<p><b>A Job With The Mob:</b>Prior to losing his law license, Quinn gained a partnership in a New York-based securities law firm that set off several alarms among federal law enforcement agencies. Indeed, an FBI report from 1983 recalled this firm’s chief focus was being responsible for the “funds of hoodlum-controlled companies.”</p>\n<p>Quinn was on both the FBI’s and SEC’s respective radars in the early 1980s for his role with two companies,<b>Sundance Gold Mining</b>&nbsp;and&nbsp;<b>Aquarius Gold Exploration</b>, that claimed to have discovered gold in Suriname. The companies created a flurry of excitement among investors, but an investigation into their operations found a hitherto undeclared connection with the&nbsp;<b>Genovese crime family.</b></p>\n<p>The SEC filed a civil complaint against Quinn in 1983, charging him with fraudulently manipulating and promoting the companies’ stocks.</p>\n<p>Three years later, he reached a settlement with the regulator by agreeing to permanently stay away from anything related to securities.</p>\n<p>The FBI, despite finding Mafia fingerprints in Quinn’s business affairs, declined to press charges against him.</p>\n<p>Realizing that he wore out his welcome in his home country, Quinn and his common-law wife&nbsp;<b>Rochelle Rothfleisch</b>&nbsp;decided to relocate to France and to up his game to an unprecedented operation.</p>\n<p><b>Boiler Room Follies:</b>The circumstances and details of how Quinn built his swindling masterpiece are a bit fuzzy, but it is believed that the scheme was first hatched in 1984 and was coordinated out of his $6 million villa in the south of France.</p>\n<p>Quinn set up an archipelago of offices in several European countries and in Dubai, Jamaica and the tiny South Pacific island nation of Vanuatu, and he gave them phony names that sounded similar to respectable brokerages.</p>\n<p>Each office was staffed with salesmen who were tasked to sell stocks for 20 U.S. corporations to individual investors around the world. The stocks in question were mostly shell companies trading on the over-the-counter exchanges that Quinn picked up for pennies, but they were resold by Quinn’s salesmen at inflated amounts.</p>\n<p>The investors were culled from mailing lists sold by publishing companies and professional organizations, as well as from respondents to advertisements placed in newsletters focused on the over-the-counter markets.</p>\n<p>Quinn’s henchmen would telephone the investors —&nbsp;nearly all of whom were novices to investing —&nbsp;and do a high-pressure sales spiel that, more often than not, resulted in the separation of the gullible targets from their money.</p>\n<p>Quinn’s team aimed at European, Australian, Middle Eastern and Hong Kong neophyte investors. The only country off-limits from this scheme was the U.S. Quinn was already on the FBI’s radar and the last thing he wanted was to give them cause to pursue him anew.</p>\n<p><b>A Temporary Setback:</b>&nbsp;In 1988, Quinn’s arrest in France&nbsp;saw him charged with securities fraud, forgery of administrative documents and the possession of two fake Greek passports. His detention and the subsequent arrest of 20 of his salesmen created a fascinating dilemma for banking and law enforcement agencies in multiple countries.</p>\n<p>For starters, no one could easily figure out where the majority of Quinn’s $500 million in ill-gotten gains wound up.&nbsp;Transfers were traced through banks in Switzerland, Luxembourg and Gibraltar, as well as the beleaguered&nbsp;<b>Bank of Credit and Commerce International</b>&nbsp;in Tampa, Florida, which gained national attention as a favored depository for those involved in drug money laundering. But where the money eventually landed was anyone’s guess, and Quinn’s talent for adopting aliases to cover his business tracks confounded investigators.</p>\n<p>Also, it was unclear regarding how many people were swindled. A pair of class-action lawsuits brought out a total of 500 people trying to regain their money, but some observers of this case speculated the number could have been higher — some investors might have seen Quinn’s scam as a means of evading local taxes and foreign currency exchanges and would then have to answer to their authorities if this chicanery came to light.</p>\n<p>The SEC got into the picture because the stocks being sold in the scheme were all U.S. companies. The agency hosted a meeting in Washington D.C.&nbsp;with law enforcement officers and prosecutors from eight European countries and Australia, with the hopes of sorting out the mess. But since no Americans were defrauded in this elaborate charade, Quinn did not face criminal charges in his own country, although the SEC temporarily froze his U.S. assets.</p>\n<p>In France, Quinn was initially released after agreeing to reimburse his French victims but was arrested again when the Swiss government demanded his extradition.</p>\n<p>He came to trial in 1991 and was only sentenced to four years in prison,&nbsp;but his sentence was reduced to include time served and he was extradited to Switzerland.</p>\n<p>His Alpine detention was brief and by the mid-1990s he returned to the U.S. and rented a luxury home in Greenwich, Connecticut, a swanky suburb of New York City.</p>\n<p><b>An Eventual Stumble:</b>One of Quinn’s neighbors in Greenwich was<b>Martin Frankel,</b>a financier with his own addiction to swindling.</p>\n<p>In 1999, the Wall Street Journal used anonymous “people familiar with the matter” to claim Quinn assisted Frankel in his efforts to raise money for a controlled investment fund designed to buy insurance companies —&nbsp;but this turned out to be an embezzlement scam that resulted in Frankel fleeing the U.S. to Germany on a phony passport.</p>\n<p>Frankel was eventually extradited and spent nearly two decades in prison, but Quinn was never charged for being a partner in Frankel’s shenanigans.</p>\n<p>For most of the 1990s and the 2000s, Quinn kept a very low public profile, although law enforcement tracked his travels to such far-flung places as the Maldives and the United Arab Emirates.</p>\n<p>In 2004, he made a rare appearance at the Irish Derby as the co-owner of the winning thoroughbred Grey Swallow. Photographs of Quinn with the winning racehorse marked the only time that he was ever photographed in a public gathering. (Copyright restrictions prevent us from reprinting the photograph here, butthis linkon the RTE website shows Quinn, standing second from right, at the conclusion of the championship race.)</p>\n<p>In November 2009, Quinn’s luck finally ran out. On a trip back from Ireland to New York’s JFK International Airport, he was arrested for his role within a ring of embezzlers that sought to defraud a pair of British telecommunications companies out of more than $60 million. The scheme had the global hallmarks of Quinn’s earlier criminal triumph, with funds being disbursed to seven countries across four continents.</p>\n<p>Quinn was immediately jailed upon his arrest and was denied bail because it was feared he would attempt to flee the country. He eventually pleaded guilty to a single count of wire fraud and, despite exhortations to avoid prison due to health problems, he was sentenced in March 2013 to 84 months in prison. He was released in May 2016.</p>\n<p>What became of Quinn since his release is unknown. No obituary for him has been published, and he would be 89 years old if he is still alive.</p>\n<p>One information-tracking website listed him residing at a Brooklyn address, but the website also listed an accompanying telephone number that is not in service. Any readers who may have information on Quinn’s whereabouts should contact us and we will offer an update on his story.</p>\n<p>Quinn rarely spoke to anyone about his criminal activities.&nbsp;During an investigative session after his final arrest, he reportedly would only answer questions through a series of eyelid blinks. When a reporter sought to interview him in 1995, he demanded his privacy.</p>\n<p>\"Just forget me,\" Quinn said. \"I've got a lot of trouble and a lot of personal grief. I'm just trying to get on with my life. I'm not in the securities business and never will be again.\"</p>","source":"lsy1606299360108","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>Wall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World</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\">\nWall Street Crime And Punishment: Thomas F. Quinn's Mad, Mad, Mad, Mad World\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 08:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million.\nAs ...</p>\n\n<a href=\"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/government/21/07/21990476/wall-street-crime-and-punishment-thomas-f-quinns-mad-mad-mad-mad-world","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139907709","content_text":"Does crime pay?\nIn August 1988, French authorities arrested an American expatriate named Thomas F. Quinn for orchestrating a global securities scheme that defrauded investors out of $500 million.\nAs an unapologetic financial miscreant with a lifelong penchant for fraud, the French escapade represented something of a career peak for Quinn, whose flair of swindling took on an astonishing level of organizing that left no corner of the world untouched.\nIllusory Assets For Sale:Thomas Francis Quinn was born in Brooklyn in 1932; his father drove a cement truck and his mother was a housewife who made extra money selling clothing and jewelry from the family’s garage.\nQuinn was an altar boy in his childhood and was the first member of his family to pursue higher education, graduating from St. John’s University Law School and passing the bar in 1962.\nQuinn opted to go into business for himself, starting a brokerage firm in New York called Thomas, Williams & Lee.The main focus of this firm became the promotion of Kent Industries,a company that claimed to own Florida property valued at $2 million.\nThere was a slight problem — Kent Industries didn’t own anything in the Sunshine State, and this inconvenient fact helped to introduce Quinn to the U.S. Securities and Exchange Commission (SEC).\nLong story short: Quinn received a lifetime banishment from the SEC in 1966 from doing business with brokers and dealers thanks to what the agency defined as his “flagrant fraudulent practices” related to the Kent Industries assets, which the regulator considered to be “almost completely illusory.”\nThe U.S. Department of Justice (DOJ) was a bit slower in dealing with Quinn, but by 1970 he was sent to jail for six months and was later permanently disbarred from practicing law.\nA Job With The Mob:Prior to losing his law license, Quinn gained a partnership in a New York-based securities law firm that set off several alarms among federal law enforcement agencies. Indeed, an FBI report from 1983 recalled this firm’s chief focus was being responsible for the “funds of hoodlum-controlled companies.”\nQuinn was on both the FBI’s and SEC’s respective radars in the early 1980s for his role with two companies,Sundance Gold Mining and Aquarius Gold Exploration, that claimed to have discovered gold in Suriname. The companies created a flurry of excitement among investors, but an investigation into their operations found a hitherto undeclared connection with the Genovese crime family.\nThe SEC filed a civil complaint against Quinn in 1983, charging him with fraudulently manipulating and promoting the companies’ stocks.\nThree years later, he reached a settlement with the regulator by agreeing to permanently stay away from anything related to securities.\nThe FBI, despite finding Mafia fingerprints in Quinn’s business affairs, declined to press charges against him.\nRealizing that he wore out his welcome in his home country, Quinn and his common-law wife Rochelle Rothfleisch decided to relocate to France and to up his game to an unprecedented operation.\nBoiler Room Follies:The circumstances and details of how Quinn built his swindling masterpiece are a bit fuzzy, but it is believed that the scheme was first hatched in 1984 and was coordinated out of his $6 million villa in the south of France.\nQuinn set up an archipelago of offices in several European countries and in Dubai, Jamaica and the tiny South Pacific island nation of Vanuatu, and he gave them phony names that sounded similar to respectable brokerages.\nEach office was staffed with salesmen who were tasked to sell stocks for 20 U.S. corporations to individual investors around the world. The stocks in question were mostly shell companies trading on the over-the-counter exchanges that Quinn picked up for pennies, but they were resold by Quinn’s salesmen at inflated amounts.\nThe investors were culled from mailing lists sold by publishing companies and professional organizations, as well as from respondents to advertisements placed in newsletters focused on the over-the-counter markets.\nQuinn’s henchmen would telephone the investors — nearly all of whom were novices to investing — and do a high-pressure sales spiel that, more often than not, resulted in the separation of the gullible targets from their money.\nQuinn’s team aimed at European, Australian, Middle Eastern and Hong Kong neophyte investors. The only country off-limits from this scheme was the U.S. Quinn was already on the FBI’s radar and the last thing he wanted was to give them cause to pursue him anew.\nA Temporary Setback: In 1988, Quinn’s arrest in France saw him charged with securities fraud, forgery of administrative documents and the possession of two fake Greek passports. His detention and the subsequent arrest of 20 of his salesmen created a fascinating dilemma for banking and law enforcement agencies in multiple countries.\nFor starters, no one could easily figure out where the majority of Quinn’s $500 million in ill-gotten gains wound up. Transfers were traced through banks in Switzerland, Luxembourg and Gibraltar, as well as the beleaguered Bank of Credit and Commerce International in Tampa, Florida, which gained national attention as a favored depository for those involved in drug money laundering. But where the money eventually landed was anyone’s guess, and Quinn’s talent for adopting aliases to cover his business tracks confounded investigators.\nAlso, it was unclear regarding how many people were swindled. A pair of class-action lawsuits brought out a total of 500 people trying to regain their money, but some observers of this case speculated the number could have been higher — some investors might have seen Quinn’s scam as a means of evading local taxes and foreign currency exchanges and would then have to answer to their authorities if this chicanery came to light.\nThe SEC got into the picture because the stocks being sold in the scheme were all U.S. companies. The agency hosted a meeting in Washington D.C. with law enforcement officers and prosecutors from eight European countries and Australia, with the hopes of sorting out the mess. But since no Americans were defrauded in this elaborate charade, Quinn did not face criminal charges in his own country, although the SEC temporarily froze his U.S. assets.\nIn France, Quinn was initially released after agreeing to reimburse his French victims but was arrested again when the Swiss government demanded his extradition.\nHe came to trial in 1991 and was only sentenced to four years in prison, but his sentence was reduced to include time served and he was extradited to Switzerland.\nHis Alpine detention was brief and by the mid-1990s he returned to the U.S. and rented a luxury home in Greenwich, Connecticut, a swanky suburb of New York City.\nAn Eventual Stumble:One of Quinn’s neighbors in Greenwich wasMartin Frankel,a financier with his own addiction to swindling.\nIn 1999, the Wall Street Journal used anonymous “people familiar with the matter” to claim Quinn assisted Frankel in his efforts to raise money for a controlled investment fund designed to buy insurance companies — but this turned out to be an embezzlement scam that resulted in Frankel fleeing the U.S. to Germany on a phony passport.\nFrankel was eventually extradited and spent nearly two decades in prison, but Quinn was never charged for being a partner in Frankel’s shenanigans.\nFor most of the 1990s and the 2000s, Quinn kept a very low public profile, although law enforcement tracked his travels to such far-flung places as the Maldives and the United Arab Emirates.\nIn 2004, he made a rare appearance at the Irish Derby as the co-owner of the winning thoroughbred Grey Swallow. Photographs of Quinn with the winning racehorse marked the only time that he was ever photographed in a public gathering. (Copyright restrictions prevent us from reprinting the photograph here, butthis linkon the RTE website shows Quinn, standing second from right, at the conclusion of the championship race.)\nIn November 2009, Quinn’s luck finally ran out. On a trip back from Ireland to New York’s JFK International Airport, he was arrested for his role within a ring of embezzlers that sought to defraud a pair of British telecommunications companies out of more than $60 million. The scheme had the global hallmarks of Quinn’s earlier criminal triumph, with funds being disbursed to seven countries across four continents.\nQuinn was immediately jailed upon his arrest and was denied bail because it was feared he would attempt to flee the country. He eventually pleaded guilty to a single count of wire fraud and, despite exhortations to avoid prison due to health problems, he was sentenced in March 2013 to 84 months in prison. He was released in May 2016.\nWhat became of Quinn since his release is unknown. No obituary for him has been published, and he would be 89 years old if he is still alive.\nOne information-tracking website listed him residing at a Brooklyn address, but the website also listed an accompanying telephone number that is not in service. Any readers who may have information on Quinn’s whereabouts should contact us and we will offer an update on his story.\nQuinn rarely spoke to anyone about his criminal activities. During an investigative session after his final arrest, he reportedly would only answer questions through a series of eyelid blinks. When a reporter sought to interview him in 1995, he demanded his privacy.\n\"Just forget me,\" Quinn said. \"I've got a lot of trouble and a lot of personal grief. I'm just trying to get on with my life. I'm not in the securities business and never will be again.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121896726,"gmtCreate":1624457996865,"gmtModify":1634005836341,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/121896726","repostId":"1170395888","repostType":4,"repost":{"id":"1170395888","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624457324,"share":"https://www.laohu8.com/m/news/1170395888?lang=&edition=full","pubTime":"2021-06-23 22:08","market":"us","language":"en","title":"Chinese Education Stocks gained in morning trading Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1170395888","media":"Tiger Newspress","summary":"(June 23) Most of Chinese education stocks gained in morning trading Wednesday.\n\nDo Hedge Funds Thin","content":"<p>(June 23)&nbsp;Most&nbsp;of&nbsp;Chinese education stocks gained in morning trading Wednesday.</p>\n<p><img src=\"https://static.tigerbbs.com/57df6b30357b75fb3994787c3780885e\" tg-width=\"281\" tg-height=\"241\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Do Hedge Funds Think EDU Is A Good Stock To Buy Now?</b></p>\n<p>At first quarter's end, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 5% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards EDU over the last 23 quarters. With the smart money's positions undergoing their usual ebb and flow, there exists an \"upper tier\" of noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).</p>\n<p><img src=\"https://static.tigerbbs.com/055cab6f7b38ad60f8784706fac000bf\" tg-width=\"680\" tg-height=\"433\" referrerpolicy=\"no-referrer\">The largest stake in New Oriental Education &amp; Technology Group Inc. (NYSE:EDU) was held byD1 Capital Partners, which reported holding $350.5 million worth of stock at the end of December. It was followed by GQG Partners with a $319.8 million position. Other investors bullish on the company included Tiger Global Management LLC, Farallon Capital, and Alkeon Capital Management. In terms of the portfolio weights assigned to each position Serenity Capital allocated the biggest weight to New Oriental Education &amp; Technology Group Inc. (NYSE:EDU), around 42.13% of its 13F portfolio.Kylin Managementis also relatively very bullish on the stock, designating 18.73 percent of its 13F equity portfolio to EDU.</p>\n<p>As industrywide interest jumped, some big names were breaking ground themselves. Thunderbird Partners, managed by David Fear, established the most valuable position in New Oriental Education &amp; Technology Group Inc. (NYSE:EDU). Thunderbird Partners had $16.7 million invested in the company at the end of the quarter. Eduardo Costa'sCalixto Global Investorsalso made a $14.7 million investment in the stock during the quarter. The other funds with brand new EDU positions are Matthew Hulsizer's PEAK6 Capital Management, Campbell Wilson'sOld Well Partners, and Daryl Smith's Kayak Investment Partners.</p>\n<p>Let's now review hedge fund activity in other stocks - not necessarily in the same industry as New Oriental Education &amp; Technology Group Inc. (NYSE:EDU) but similarly valued. These stocks are Kansas City Southern (NYSE:KSU), Nucor Corporation (NYSE:NUE), Franco-Nevada Corporation (NYSE:FNV), Fortive Corporation (NYSE:FTV), The Hartford Financial Services Group Inc (NYSE:HIG), Itau Unibanco Holding SA (NYSE:ITUB), and Trip.com Group Limited (NASDAQ:TCOM). All of these stocks' market caps are closest to EDU's market cap.</p>\n<p>As you can see these stocks had an average of 32.1 hedge funds with bullish positions and the average amount invested in these stocks was $1239 million. That figure was $2188 million in EDU's case. The Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Itau Unibanco Holding SA (NYSE:ITUB) is the least popular one with only 12 bullish hedge fund positions. New Oriental Education &amp; Technology Group Inc. (NYSE:EDU) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for EDU is 70.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 5 most popular stocksamong hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&amp;P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.4% in 2021 through June 18th and beat the market again by 6.1 percentage points. Unfortunately EDU wasn't nearly as popular as these 5 stocks and hedge funds that were betting on EDU were disappointed as the stock returned -45.8% since the end of March (through 6/18) and underperformed the market.</p>\n<p><b>TAL Education: Not Ready To Handle A New Wave Of Market Rivalry</b></p>\n<p><b>Summary</b></p>\n<ul>\n <li>FY2Q2021 revenue and XRS online growth fell below consensus expectations.</li>\n <li>In 2020, the online K12 education market size in China reached CNY 89 billion, with a year-on-year increase of 37.6%.</li>\n <li>Unlike its nemesis New Oriental, TAL's investment amount into other firms has been continuously decreasing since 2016.</li>\n <li>With COVID-19 reshaping the market, tech giants have started to make big moves into the digital education industry.</li>\n <li>We do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth.</li>\n</ul>\n<p>TAL Education Group (also known as Tomorrow Advanced Learning) (TAL) is an education company that focuses on K12 students in China. It also has business segments in adult education, early education &amp; parenting and education informatization. The firm takes quality education and extracurricular tutoring as the carrier system to serve on a global scale. Founded in 2003, it went public on NYSE in 2010.</p>\n<p>In China, TAL competes with New Oriental (EDU), a company founded back in 1993. It can be said that both firms are leading China's education industry; for one, the market coverage of the two is evenly matched. From the latest information, New Oriental has active businesses in a total of 98 cities in China and one foreign city (Toronto). TAL has laid its business in a total of 90 cities across China.</p>\n<p>As parents in the fast-growing country pay more and more attention to their children's basic education and e-learning is increasingly popular, the vast field of primary and secondary education and online education has eventually become a battleground for companies.</p>\n<p><b>Decent financial results</b></p>\n<p>TAL's 2Q 2021financial resultsweren't very impressive, as the firm earned USD 1.10 billion (up 20.8% year-on-year) compared to analysts' expectations of USD 1.12 billion for the quarter. However, it reported USD 0.08 earnings per share for the quarter, beating analysts' consensus estimates of USD 0.05 by USD 0.03. TAL Education Group had a return on equity of 0.21% and a net margin of 1.35% compared to 8.97% in 1Q 2021 due to strong competition presented in the primary education segment. It includes local pure online education companies such asYuanfudaoandZuoyebangthat recently completed mega-rounds of investment. Meanwhile, the non-GAAP operating margins were down to -1.1% compared to 9.8% in 2Q 2020 as customer acquisition costs rose backed by the fierce competition.</p>\n<p><img src=\"https://static.tigerbbs.com/e0bea7dc26e41fa05c9d8fef1c355e7d\" tg-width=\"640\" tg-height=\"382\" referrerpolicy=\"no-referrer\"><b>New market opportunities</b></p>\n<p>In the past five to six years, with the support of the state, the development of technology, and the inflow of capital, China's online K12 education industry has undergone rapid development. In 2020, the overall online K12 education market size in China reached approximately CNY 89 billion, with a year-over-year increase of 37.6%.</p>\n<p>In 2019, the penetration rate of K12 online education in China was about 15%. As COVID-19 struck during the beginning of 2020, the advantages of online education have been very apparent. The penetration rate of online K12 education reached its peak in March 2020. Although the industry is still in the stage of consumption popularization in China, there are obvious trends. This field consistently demonstrates a long-term massive demand as an emerging way of obtaining education information and services. Hence, the industry penetration rate has huge room for improvement in the future. According to thepredictionof the Chinese Academy of Sciences, the penetration rate of the K12 online education industry may exceed 55% by 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/6c29976387d48527f1570b7fbf255f1e\" tg-width=\"640\" tg-height=\"351\" referrerpolicy=\"no-referrer\"></p>\n<p>The fact that TAL owns 871 learning centers (offline tutoring centers), 648 Peiyou (好未来培优) centers and 128 one-on-one centers is the reason why we believe TAL is not pandemic-proof. Possible closure of these centers by the government in order to control the spread of COVID-19 will lead to huge declines in the firm's financials.</p>\n<p>TAL does own online education apps – but they can't compete with the likes of VIPKID, Yuanfudao, and Zuoyebang, even though there has been an increase in revenue contribution of Xueersi TAL’s online app from 17% in FY2Q2020 to 26% in FY2Q2021.</p>\n<p>The re-emergence of COVID-19 in China is a headwind for TAL's offline classroom-based training business. Although the vaccine has emerged, children below the age of 18 are not allowed to administer it. TAL's stock price might soon fall when most investors realize that the company still focused on formal or classroom-based tutorials and training.</p>\n<p>TAL has had stable growth since getting listed about nine years ago. Revenue has increased about 30 times, at a compound annual rate of 45.7% since then and gross margins averaged as high as 50.8%.</p>\n<p>Results from the last fiscal year ending February were materially affected by COVID-19 induced restrictions which had started early in China. Offline operations, primarily core Peiyou small classes, had to be quickly transferred to online platforms. As a result, some revenue was lost due to the lower selling prices for online classes, the total revenue in Q4 grew just 6.2% compared to 44.1% the previous year. Student enrollments were still up on aggregate with a rate of, 56.6% year-over-year.</p>\n<p><b>Less venture investment presence</b></p>\n<p>Since 2017, the number of investments by TAL has been decreasing. New Oriental has been more aggressive compared to TAL since 2018. TAL's financing has dropped sharply from 24 in 2016 to only two in 2020. The two investments were made on an interactive learning SaaS platform UMU and an online children's math tutoring app.</p>\n<p><img src=\"https://static.tigerbbs.com/6af6af29d7cc826e97357d73c53b7a51\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\"></p>\n<p><b>The entrance of tech giants</b></p>\n<p>Sales and marketing expenses surged as the competition got tough for online players in the summer. Sales and marketing expenses surged 64% year-on-year and made up 22% of the total revenue, up 4.9% year-on-year.</p>\n<p>With upstarts raising mega-rounds, things might get even tougher for TAL as more companies with huge capital to spend on marketing will try to grab market share. Other than that, Chinese giants such as Alibaba(NYSE:BABA), NetEase(NASDAQ:NTES), Tencent(OTCPK:TCEHY), ByteDance and Baidu(NASDAQ:BIDU)engage their businesses into online education. TAL needs to upgrade its online education business to stay afloat.</p>\n<p>The education field is likely to be divided up by companies outside of this industry. It is also worth mentioning that the firm's key competitiveness is its in-depth application of technologies such as big data and live broadcast intelligence in China's online education industry. The firm has not spent much on research and development in terms of proprietary tuition-based technology. There are few existing barriers to entry. Teaching staff and market share could be theoretically purchased by new entrants.</p>\n<p><b>Allegation probe</b></p>\n<p>In April 2020,TAL became one of the scandalous US-listed Chinese firmsafter admitting to inflate sales figures driven by employee wrongdoing, further hindering market confidence after Luckin Coffee's(OTCPK:LKNCY)USD 310 million fraud.</p>\n<p>Two years before this event, Muddy Waters released areportnaming the company 'A Real Business With Fake Financials.' The report claimed that \"TAL commits fraud in the financials for its core Peiyou business. The Peiyou fraud is more difficult to quantify, but our research suggests fraudulent overstatement of approximately 25% to 30% of the company’s revenue.\"</p>\n<p><b>Bottom line</b></p>\n<p>This might not be a suitable time to invest in TAL Education. We give a neutral rating to the stock because we do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth. Therefore, TAL does have a chance to enhance its online business and compete with newcomers and experienced enterprises, including the likes of Zuoyebang, Yuanfudao, Baidu and NetEase.</p>\n<h3>Gaotu Group: Policy Overhang Keeps The Risk-Reward Balanced</h3>\n<p><b>Summary</b></p>\n<ul>\n <li>The longer-term outlook remains bright for Gaotu Group (formerly GSX TechEdu).</li>\n <li>Adverse regulatory changes remain the key risk for the near-term outlook, but a healthier longer-term dynamic should benefit profitability.</li>\n <li>Growth drivers such as alternative student acquisition channels and increased contribution from adult education should help as well.</li>\n <li>Despite the discounted EV/Sales multiple, I would hold off on initiating a position for now pending clearance of the policy overhang.</li>\n</ul>\n<p>Newly rebranded Gaotu Group’s (GOTU/GSX) recently heldinvestor eventfeatured an interesting tour of its operation and top management strategy presentations, which offered timely insight into the longer-term outlook. In particular, GSX emphasized its continued focus on teaching excellence, service quality, and technology investments as key differentiators. However, policy risks remains the biggest concern, and if government intervention in the online after-school tutoring space turns out to be stricter than expected, I see material downside risks to GSX’s near-term growth trajectory. On the flip side, it could also result in a healthier industry dynamic, which should drive narrowing losses as well. While the policy reform overhang makes it difficult to turn bullish, GSX’s discounted c. 3x EV/Sales multiple also looks undemanding, keeping the risk/reward fairly balanced.</p>\n<p><b>Growing Importance of Alternative Student Acquisition Channels</b></p>\n<p>Worryingly, GSX has seen reduced traffic acquisition in FQ4 ‘20 and FQ1 ‘21, with a whopping c. 20% lower sales lead cost in Jan-Feb 2021 (down from the Nov-Dec 2020 period). The recent decline is likely attributable to regulatory uncertainties around online traffic acquisition triggered by a recent Ministry of Education (MOE)interviewearlier this year. The significantly pressured new enrolment growth in FQ1 ‘21 may have been one of the reasons for the lower-than-expected top-line guidance as well. In response, management is exploring new student acquisition channels to offset the pressure – this includes the offline, short video, and live streaming e-commerce channels, among others. The good news is that successful expansion here could see the student acquisition cost lowered by over 50%, which is positive for the margin outlook (GSX is currently loss-making at the operating level).</p>\n<p><img src=\"https://static.tigerbbs.com/e2602f4695bfb8d694d546b29bca897a\" tg-width=\"602\" tg-height=\"288\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Investor Presentation Slides</p>\n<p>However, GSX is not alone in this regard – other online AST players have initiated similar moves, from online one-on-one and small-class players such as 51talk (COE), VIPKID, and New Oriental subsidiary Koolearn, whose large-class coverage has reached c.100 cities. Similarly, online large-class after-school tutoring players have also started expanding into offline acquisition through partnerships, with TAL Education (TAL) subsidiaryXueersi.comalsotying upwith Lenovo (OTCPK:LNVGY) in recent months. And with private players like Zuoyebang alsobuildingoffline traffic acquisition teams, the competitive pressures could drive downside to the near-term outlook.</p>\n<p><b>Adult Education Set to be Another Top-Line Growth Driver</b></p>\n<p>Within the Chinese education market, adult education is also emerging as a potential growth opportunity as people are increasingly looking to upskill in an uncertain job market. Alongside income level rises, people are also spending more on education to better prepare themselves for career development. As a result, gross billings have grown at a CAGR of 24.5% and are expected to grow further at 22.4% CAGR into fiscal 2023, reaching RMB265 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/98361534c62ba1d36e6adf2696116a49\" tg-width=\"602\" tg-height=\"200\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Listing Prospectus Filing</p>\n<p>Notably, while GSX currently expects fiscal 2021 revenue growth to be in the range of 70-80% Y/Y, the adult education business is guided to be a key growth driver at +100% Y/Y revenue growth. Considering that adult education accounted for over 10% of GSX’s revenue in fiscal 2020, I expect the contribution to continue rising over time. Key areas of growth here include English training, graduate school admission exam prep, and finance-related courses. Longer-term, I think the adult education business could even see higher gross margins than K-12 after-school tutoring due to the higher enrolment/tutor ratio.</p>\n<p><b>Online Regulations Remain the Key Concern</b></p>\n<p>Looking ahead, potential online regulations in the after-school tutoring space are concerning, with likely measures including a fake advertising ban, increased control over marketing spend in education, and more stringent quality requirements for institutions and instructors. On the flip side, these measures will also be beneficial to the overall industry development longer-term, allowing online after-school tutoring players to reinvest more dollars into improving the product and teaching quality. While clarity around the new regulations for both the offline/online markets remains lacking, I see a more positive outcome than the prior industry experience in 2018.</p>\n<p>Any restrictions on marketing limitation will likely have a negative impact on enrolment and sales growth in the near term but will also benefit margins due to the lower marketing spending. In turn, this should improve the longer-term economics of the business and drive narrowing losses in the upcoming quarter. Another key positive from the slower growth is that GSX will be able to focus on improving its product/service quality and extract more student lifetime value while also preserving its robust balance sheet. As of end-2020, GSX had a c. RMB8.2 billion cash position (including liquid investments), which should allow it to weather any unforeseen negative policy impacts.</p>\n<p><img src=\"https://static.tigerbbs.com/a96e5d1f7d5a8fb561314a81180e06dd\" tg-width=\"602\" tg-height=\"280\" referrerpolicy=\"no-referrer\"></p>\n<p>Source: GSX Investor Presentation Slides</p>\n<p><b>Final Take</b></p>\n<p>Overall, regulations on marketing will likely have a negative impact on enrolment and top-line growth but should also lead to a healthier operating dynamic and narrowing losses ahead. With GSX also focused on alternative acquisition channels and tapping into markets such as adult education, I think the company could surprise positively in the upcoming quarters. While the GSX share price has suffered due to the Archegos Capital event and policy concerns, its forward EV/Sales multiple has declined significantly to c. 3x, and the widening relative discount to peers like TAL and EDU likely means the negatives have been priced in. Until the policy overhang has been lifted, however, I see the risk/reward as balanced at current levels.</p>\n<p><img src=\"https://static.tigerbbs.com/dd579bffc2a24fd55d7ccc3346eae7cb\" tg-width=\"635\" tg-height=\"436\" referrerpolicy=\"no-referrer\">Data by YCharts</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>Chinese Education Stocks gained in morning trading Wednesday</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\">\nChinese Education Stocks gained in morning trading Wednesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-23 22:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 23)&nbsp;Most&nbsp;of&nbsp;Chinese education stocks gained in morning trading Wednesday.</p>\n<p><img src=\"https://static.tigerbbs.com/57df6b30357b75fb3994787c3780885e\" tg-width=\"281\" tg-height=\"241\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Do Hedge Funds Think EDU Is A Good Stock To Buy Now?</b></p>\n<p>At first quarter's end, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 5% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards EDU over the last 23 quarters. With the smart money's positions undergoing their usual ebb and flow, there exists an \"upper tier\" of noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).</p>\n<p><img src=\"https://static.tigerbbs.com/055cab6f7b38ad60f8784706fac000bf\" tg-width=\"680\" tg-height=\"433\" referrerpolicy=\"no-referrer\">The largest stake in New Oriental Education &amp; Technology Group Inc. (NYSE:EDU) was held byD1 Capital Partners, which reported holding $350.5 million worth of stock at the end of December. It was followed by GQG Partners with a $319.8 million position. Other investors bullish on the company included Tiger Global Management LLC, Farallon Capital, and Alkeon Capital Management. In terms of the portfolio weights assigned to each position Serenity Capital allocated the biggest weight to New Oriental Education &amp; Technology Group Inc. (NYSE:EDU), around 42.13% of its 13F portfolio.Kylin Managementis also relatively very bullish on the stock, designating 18.73 percent of its 13F equity portfolio to EDU.</p>\n<p>As industrywide interest jumped, some big names were breaking ground themselves. Thunderbird Partners, managed by David Fear, established the most valuable position in New Oriental Education &amp; Technology Group Inc. (NYSE:EDU). Thunderbird Partners had $16.7 million invested in the company at the end of the quarter. Eduardo Costa'sCalixto Global Investorsalso made a $14.7 million investment in the stock during the quarter. The other funds with brand new EDU positions are Matthew Hulsizer's PEAK6 Capital Management, Campbell Wilson'sOld Well Partners, and Daryl Smith's Kayak Investment Partners.</p>\n<p>Let's now review hedge fund activity in other stocks - not necessarily in the same industry as New Oriental Education &amp; Technology Group Inc. (NYSE:EDU) but similarly valued. These stocks are Kansas City Southern (NYSE:KSU), Nucor Corporation (NYSE:NUE), Franco-Nevada Corporation (NYSE:FNV), Fortive Corporation (NYSE:FTV), The Hartford Financial Services Group Inc (NYSE:HIG), Itau Unibanco Holding SA (NYSE:ITUB), and Trip.com Group Limited (NASDAQ:TCOM). All of these stocks' market caps are closest to EDU's market cap.</p>\n<p>As you can see these stocks had an average of 32.1 hedge funds with bullish positions and the average amount invested in these stocks was $1239 million. That figure was $2188 million in EDU's case. The Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Itau Unibanco Holding SA (NYSE:ITUB) is the least popular one with only 12 bullish hedge fund positions. New Oriental Education &amp; Technology Group Inc. (NYSE:EDU) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for EDU is 70.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 5 most popular stocksamong hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&amp;P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.4% in 2021 through June 18th and beat the market again by 6.1 percentage points. Unfortunately EDU wasn't nearly as popular as these 5 stocks and hedge funds that were betting on EDU were disappointed as the stock returned -45.8% since the end of March (through 6/18) and underperformed the market.</p>\n<p><b>TAL Education: Not Ready To Handle A New Wave Of Market Rivalry</b></p>\n<p><b>Summary</b></p>\n<ul>\n <li>FY2Q2021 revenue and XRS online growth fell below consensus expectations.</li>\n <li>In 2020, the online K12 education market size in China reached CNY 89 billion, with a year-on-year increase of 37.6%.</li>\n <li>Unlike its nemesis New Oriental, TAL's investment amount into other firms has been continuously decreasing since 2016.</li>\n <li>With COVID-19 reshaping the market, tech giants have started to make big moves into the digital education industry.</li>\n <li>We do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth.</li>\n</ul>\n<p>TAL Education Group (also known as Tomorrow Advanced Learning) (TAL) is an education company that focuses on K12 students in China. It also has business segments in adult education, early education &amp; parenting and education informatization. The firm takes quality education and extracurricular tutoring as the carrier system to serve on a global scale. Founded in 2003, it went public on NYSE in 2010.</p>\n<p>In China, TAL competes with New Oriental (EDU), a company founded back in 1993. It can be said that both firms are leading China's education industry; for one, the market coverage of the two is evenly matched. From the latest information, New Oriental has active businesses in a total of 98 cities in China and one foreign city (Toronto). TAL has laid its business in a total of 90 cities across China.</p>\n<p>As parents in the fast-growing country pay more and more attention to their children's basic education and e-learning is increasingly popular, the vast field of primary and secondary education and online education has eventually become a battleground for companies.</p>\n<p><b>Decent financial results</b></p>\n<p>TAL's 2Q 2021financial resultsweren't very impressive, as the firm earned USD 1.10 billion (up 20.8% year-on-year) compared to analysts' expectations of USD 1.12 billion for the quarter. However, it reported USD 0.08 earnings per share for the quarter, beating analysts' consensus estimates of USD 0.05 by USD 0.03. TAL Education Group had a return on equity of 0.21% and a net margin of 1.35% compared to 8.97% in 1Q 2021 due to strong competition presented in the primary education segment. It includes local pure online education companies such asYuanfudaoandZuoyebangthat recently completed mega-rounds of investment. Meanwhile, the non-GAAP operating margins were down to -1.1% compared to 9.8% in 2Q 2020 as customer acquisition costs rose backed by the fierce competition.</p>\n<p><img src=\"https://static.tigerbbs.com/e0bea7dc26e41fa05c9d8fef1c355e7d\" tg-width=\"640\" tg-height=\"382\" referrerpolicy=\"no-referrer\"><b>New market opportunities</b></p>\n<p>In the past five to six years, with the support of the state, the development of technology, and the inflow of capital, China's online K12 education industry has undergone rapid development. In 2020, the overall online K12 education market size in China reached approximately CNY 89 billion, with a year-over-year increase of 37.6%.</p>\n<p>In 2019, the penetration rate of K12 online education in China was about 15%. As COVID-19 struck during the beginning of 2020, the advantages of online education have been very apparent. The penetration rate of online K12 education reached its peak in March 2020. Although the industry is still in the stage of consumption popularization in China, there are obvious trends. This field consistently demonstrates a long-term massive demand as an emerging way of obtaining education information and services. Hence, the industry penetration rate has huge room for improvement in the future. According to thepredictionof the Chinese Academy of Sciences, the penetration rate of the K12 online education industry may exceed 55% by 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/6c29976387d48527f1570b7fbf255f1e\" tg-width=\"640\" tg-height=\"351\" referrerpolicy=\"no-referrer\"></p>\n<p>The fact that TAL owns 871 learning centers (offline tutoring centers), 648 Peiyou (好未来培优) centers and 128 one-on-one centers is the reason why we believe TAL is not pandemic-proof. Possible closure of these centers by the government in order to control the spread of COVID-19 will lead to huge declines in the firm's financials.</p>\n<p>TAL does own online education apps – but they can't compete with the likes of VIPKID, Yuanfudao, and Zuoyebang, even though there has been an increase in revenue contribution of Xueersi TAL’s online app from 17% in FY2Q2020 to 26% in FY2Q2021.</p>\n<p>The re-emergence of COVID-19 in China is a headwind for TAL's offline classroom-based training business. Although the vaccine has emerged, children below the age of 18 are not allowed to administer it. TAL's stock price might soon fall when most investors realize that the company still focused on formal or classroom-based tutorials and training.</p>\n<p>TAL has had stable growth since getting listed about nine years ago. Revenue has increased about 30 times, at a compound annual rate of 45.7% since then and gross margins averaged as high as 50.8%.</p>\n<p>Results from the last fiscal year ending February were materially affected by COVID-19 induced restrictions which had started early in China. Offline operations, primarily core Peiyou small classes, had to be quickly transferred to online platforms. As a result, some revenue was lost due to the lower selling prices for online classes, the total revenue in Q4 grew just 6.2% compared to 44.1% the previous year. Student enrollments were still up on aggregate with a rate of, 56.6% year-over-year.</p>\n<p><b>Less venture investment presence</b></p>\n<p>Since 2017, the number of investments by TAL has been decreasing. New Oriental has been more aggressive compared to TAL since 2018. TAL's financing has dropped sharply from 24 in 2016 to only two in 2020. The two investments were made on an interactive learning SaaS platform UMU and an online children's math tutoring app.</p>\n<p><img src=\"https://static.tigerbbs.com/6af6af29d7cc826e97357d73c53b7a51\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\"></p>\n<p><b>The entrance of tech giants</b></p>\n<p>Sales and marketing expenses surged as the competition got tough for online players in the summer. Sales and marketing expenses surged 64% year-on-year and made up 22% of the total revenue, up 4.9% year-on-year.</p>\n<p>With upstarts raising mega-rounds, things might get even tougher for TAL as more companies with huge capital to spend on marketing will try to grab market share. Other than that, Chinese giants such as Alibaba(NYSE:BABA), NetEase(NASDAQ:NTES), Tencent(OTCPK:TCEHY), ByteDance and Baidu(NASDAQ:BIDU)engage their businesses into online education. TAL needs to upgrade its online education business to stay afloat.</p>\n<p>The education field is likely to be divided up by companies outside of this industry. It is also worth mentioning that the firm's key competitiveness is its in-depth application of technologies such as big data and live broadcast intelligence in China's online education industry. The firm has not spent much on research and development in terms of proprietary tuition-based technology. There are few existing barriers to entry. Teaching staff and market share could be theoretically purchased by new entrants.</p>\n<p><b>Allegation probe</b></p>\n<p>In April 2020,TAL became one of the scandalous US-listed Chinese firmsafter admitting to inflate sales figures driven by employee wrongdoing, further hindering market confidence after Luckin Coffee's(OTCPK:LKNCY)USD 310 million fraud.</p>\n<p>Two years before this event, Muddy Waters released areportnaming the company 'A Real Business With Fake Financials.' The report claimed that \"TAL commits fraud in the financials for its core Peiyou business. The Peiyou fraud is more difficult to quantify, but our research suggests fraudulent overstatement of approximately 25% to 30% of the company’s revenue.\"</p>\n<p><b>Bottom line</b></p>\n<p>This might not be a suitable time to invest in TAL Education. We give a neutral rating to the stock because we do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth. Therefore, TAL does have a chance to enhance its online business and compete with newcomers and experienced enterprises, including the likes of Zuoyebang, Yuanfudao, Baidu and NetEase.</p>\n<h3>Gaotu Group: Policy Overhang Keeps The Risk-Reward Balanced</h3>\n<p><b>Summary</b></p>\n<ul>\n <li>The longer-term outlook remains bright for Gaotu Group (formerly GSX TechEdu).</li>\n <li>Adverse regulatory changes remain the key risk for the near-term outlook, but a healthier longer-term dynamic should benefit profitability.</li>\n <li>Growth drivers such as alternative student acquisition channels and increased contribution from adult education should help as well.</li>\n <li>Despite the discounted EV/Sales multiple, I would hold off on initiating a position for now pending clearance of the policy overhang.</li>\n</ul>\n<p>Newly rebranded Gaotu Group’s (GOTU/GSX) recently heldinvestor eventfeatured an interesting tour of its operation and top management strategy presentations, which offered timely insight into the longer-term outlook. In particular, GSX emphasized its continued focus on teaching excellence, service quality, and technology investments as key differentiators. However, policy risks remains the biggest concern, and if government intervention in the online after-school tutoring space turns out to be stricter than expected, I see material downside risks to GSX’s near-term growth trajectory. On the flip side, it could also result in a healthier industry dynamic, which should drive narrowing losses as well. While the policy reform overhang makes it difficult to turn bullish, GSX’s discounted c. 3x EV/Sales multiple also looks undemanding, keeping the risk/reward fairly balanced.</p>\n<p><b>Growing Importance of Alternative Student Acquisition Channels</b></p>\n<p>Worryingly, GSX has seen reduced traffic acquisition in FQ4 ‘20 and FQ1 ‘21, with a whopping c. 20% lower sales lead cost in Jan-Feb 2021 (down from the Nov-Dec 2020 period). The recent decline is likely attributable to regulatory uncertainties around online traffic acquisition triggered by a recent Ministry of Education (MOE)interviewearlier this year. The significantly pressured new enrolment growth in FQ1 ‘21 may have been one of the reasons for the lower-than-expected top-line guidance as well. In response, management is exploring new student acquisition channels to offset the pressure – this includes the offline, short video, and live streaming e-commerce channels, among others. The good news is that successful expansion here could see the student acquisition cost lowered by over 50%, which is positive for the margin outlook (GSX is currently loss-making at the operating level).</p>\n<p><img src=\"https://static.tigerbbs.com/e2602f4695bfb8d694d546b29bca897a\" tg-width=\"602\" tg-height=\"288\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Investor Presentation Slides</p>\n<p>However, GSX is not alone in this regard – other online AST players have initiated similar moves, from online one-on-one and small-class players such as 51talk (COE), VIPKID, and New Oriental subsidiary Koolearn, whose large-class coverage has reached c.100 cities. Similarly, online large-class after-school tutoring players have also started expanding into offline acquisition through partnerships, with TAL Education (TAL) subsidiaryXueersi.comalsotying upwith Lenovo (OTCPK:LNVGY) in recent months. And with private players like Zuoyebang alsobuildingoffline traffic acquisition teams, the competitive pressures could drive downside to the near-term outlook.</p>\n<p><b>Adult Education Set to be Another Top-Line Growth Driver</b></p>\n<p>Within the Chinese education market, adult education is also emerging as a potential growth opportunity as people are increasingly looking to upskill in an uncertain job market. Alongside income level rises, people are also spending more on education to better prepare themselves for career development. As a result, gross billings have grown at a CAGR of 24.5% and are expected to grow further at 22.4% CAGR into fiscal 2023, reaching RMB265 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/98361534c62ba1d36e6adf2696116a49\" tg-width=\"602\" tg-height=\"200\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Listing Prospectus Filing</p>\n<p>Notably, while GSX currently expects fiscal 2021 revenue growth to be in the range of 70-80% Y/Y, the adult education business is guided to be a key growth driver at +100% Y/Y revenue growth. Considering that adult education accounted for over 10% of GSX’s revenue in fiscal 2020, I expect the contribution to continue rising over time. Key areas of growth here include English training, graduate school admission exam prep, and finance-related courses. Longer-term, I think the adult education business could even see higher gross margins than K-12 after-school tutoring due to the higher enrolment/tutor ratio.</p>\n<p><b>Online Regulations Remain the Key Concern</b></p>\n<p>Looking ahead, potential online regulations in the after-school tutoring space are concerning, with likely measures including a fake advertising ban, increased control over marketing spend in education, and more stringent quality requirements for institutions and instructors. On the flip side, these measures will also be beneficial to the overall industry development longer-term, allowing online after-school tutoring players to reinvest more dollars into improving the product and teaching quality. While clarity around the new regulations for both the offline/online markets remains lacking, I see a more positive outcome than the prior industry experience in 2018.</p>\n<p>Any restrictions on marketing limitation will likely have a negative impact on enrolment and sales growth in the near term but will also benefit margins due to the lower marketing spending. In turn, this should improve the longer-term economics of the business and drive narrowing losses in the upcoming quarter. Another key positive from the slower growth is that GSX will be able to focus on improving its product/service quality and extract more student lifetime value while also preserving its robust balance sheet. As of end-2020, GSX had a c. RMB8.2 billion cash position (including liquid investments), which should allow it to weather any unforeseen negative policy impacts.</p>\n<p><img src=\"https://static.tigerbbs.com/a96e5d1f7d5a8fb561314a81180e06dd\" tg-width=\"602\" tg-height=\"280\" referrerpolicy=\"no-referrer\"></p>\n<p>Source: GSX Investor Presentation Slides</p>\n<p><b>Final Take</b></p>\n<p>Overall, regulations on marketing will likely have a negative impact on enrolment and top-line growth but should also lead to a healthier operating dynamic and narrowing losses ahead. With GSX also focused on alternative acquisition channels and tapping into markets such as adult education, I think the company could surprise positively in the upcoming quarters. While the GSX share price has suffered due to the Archegos Capital event and policy concerns, its forward EV/Sales multiple has declined significantly to c. 3x, and the widening relative discount to peers like TAL and EDU likely means the negatives have been priced in. Until the policy overhang has been lifted, however, I see the risk/reward as balanced at current levels.</p>\n<p><img src=\"https://static.tigerbbs.com/dd579bffc2a24fd55d7ccc3346eae7cb\" tg-width=\"635\" tg-height=\"436\" referrerpolicy=\"no-referrer\">Data by YCharts</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOTU":"高途","TAL":"好未来","EDU":"新东方"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170395888","content_text":"(June 23) Most of Chinese education stocks gained in morning trading Wednesday.\n\nDo Hedge Funds Think EDU Is A Good Stock To Buy Now?\nAt first quarter's end, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 5% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards EDU over the last 23 quarters. With the smart money's positions undergoing their usual ebb and flow, there exists an \"upper tier\" of noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).\nThe largest stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) was held byD1 Capital Partners, which reported holding $350.5 million worth of stock at the end of December. It was followed by GQG Partners with a $319.8 million position. Other investors bullish on the company included Tiger Global Management LLC, Farallon Capital, and Alkeon Capital Management. In terms of the portfolio weights assigned to each position Serenity Capital allocated the biggest weight to New Oriental Education & Technology Group Inc. (NYSE:EDU), around 42.13% of its 13F portfolio.Kylin Managementis also relatively very bullish on the stock, designating 18.73 percent of its 13F equity portfolio to EDU.\nAs industrywide interest jumped, some big names were breaking ground themselves. Thunderbird Partners, managed by David Fear, established the most valuable position in New Oriental Education & Technology Group Inc. (NYSE:EDU). Thunderbird Partners had $16.7 million invested in the company at the end of the quarter. Eduardo Costa'sCalixto Global Investorsalso made a $14.7 million investment in the stock during the quarter. The other funds with brand new EDU positions are Matthew Hulsizer's PEAK6 Capital Management, Campbell Wilson'sOld Well Partners, and Daryl Smith's Kayak Investment Partners.\nLet's now review hedge fund activity in other stocks - not necessarily in the same industry as New Oriental Education & Technology Group Inc. (NYSE:EDU) but similarly valued. These stocks are Kansas City Southern (NYSE:KSU), Nucor Corporation (NYSE:NUE), Franco-Nevada Corporation (NYSE:FNV), Fortive Corporation (NYSE:FTV), The Hartford Financial Services Group Inc (NYSE:HIG), Itau Unibanco Holding SA (NYSE:ITUB), and Trip.com Group Limited (NASDAQ:TCOM). All of these stocks' market caps are closest to EDU's market cap.\nAs you can see these stocks had an average of 32.1 hedge funds with bullish positions and the average amount invested in these stocks was $1239 million. That figure was $2188 million in EDU's case. The Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Itau Unibanco Holding SA (NYSE:ITUB) is the least popular one with only 12 bullish hedge fund positions. New Oriental Education & Technology Group Inc. (NYSE:EDU) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for EDU is 70.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 5 most popular stocksamong hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.4% in 2021 through June 18th and beat the market again by 6.1 percentage points. Unfortunately EDU wasn't nearly as popular as these 5 stocks and hedge funds that were betting on EDU were disappointed as the stock returned -45.8% since the end of March (through 6/18) and underperformed the market.\nTAL Education: Not Ready To Handle A New Wave Of Market Rivalry\nSummary\n\nFY2Q2021 revenue and XRS online growth fell below consensus expectations.\nIn 2020, the online K12 education market size in China reached CNY 89 billion, with a year-on-year increase of 37.6%.\nUnlike its nemesis New Oriental, TAL's investment amount into other firms has been continuously decreasing since 2016.\nWith COVID-19 reshaping the market, tech giants have started to make big moves into the digital education industry.\nWe do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth.\n\nTAL Education Group (also known as Tomorrow Advanced Learning) (TAL) is an education company that focuses on K12 students in China. It also has business segments in adult education, early education & parenting and education informatization. The firm takes quality education and extracurricular tutoring as the carrier system to serve on a global scale. Founded in 2003, it went public on NYSE in 2010.\nIn China, TAL competes with New Oriental (EDU), a company founded back in 1993. It can be said that both firms are leading China's education industry; for one, the market coverage of the two is evenly matched. From the latest information, New Oriental has active businesses in a total of 98 cities in China and one foreign city (Toronto). TAL has laid its business in a total of 90 cities across China.\nAs parents in the fast-growing country pay more and more attention to their children's basic education and e-learning is increasingly popular, the vast field of primary and secondary education and online education has eventually become a battleground for companies.\nDecent financial results\nTAL's 2Q 2021financial resultsweren't very impressive, as the firm earned USD 1.10 billion (up 20.8% year-on-year) compared to analysts' expectations of USD 1.12 billion for the quarter. However, it reported USD 0.08 earnings per share for the quarter, beating analysts' consensus estimates of USD 0.05 by USD 0.03. TAL Education Group had a return on equity of 0.21% and a net margin of 1.35% compared to 8.97% in 1Q 2021 due to strong competition presented in the primary education segment. It includes local pure online education companies such asYuanfudaoandZuoyebangthat recently completed mega-rounds of investment. Meanwhile, the non-GAAP operating margins were down to -1.1% compared to 9.8% in 2Q 2020 as customer acquisition costs rose backed by the fierce competition.\nNew market opportunities\nIn the past five to six years, with the support of the state, the development of technology, and the inflow of capital, China's online K12 education industry has undergone rapid development. In 2020, the overall online K12 education market size in China reached approximately CNY 89 billion, with a year-over-year increase of 37.6%.\nIn 2019, the penetration rate of K12 online education in China was about 15%. As COVID-19 struck during the beginning of 2020, the advantages of online education have been very apparent. The penetration rate of online K12 education reached its peak in March 2020. Although the industry is still in the stage of consumption popularization in China, there are obvious trends. This field consistently demonstrates a long-term massive demand as an emerging way of obtaining education information and services. Hence, the industry penetration rate has huge room for improvement in the future. According to thepredictionof the Chinese Academy of Sciences, the penetration rate of the K12 online education industry may exceed 55% by 2022.\n\nThe fact that TAL owns 871 learning centers (offline tutoring centers), 648 Peiyou (好未来培优) centers and 128 one-on-one centers is the reason why we believe TAL is not pandemic-proof. Possible closure of these centers by the government in order to control the spread of COVID-19 will lead to huge declines in the firm's financials.\nTAL does own online education apps – but they can't compete with the likes of VIPKID, Yuanfudao, and Zuoyebang, even though there has been an increase in revenue contribution of Xueersi TAL’s online app from 17% in FY2Q2020 to 26% in FY2Q2021.\nThe re-emergence of COVID-19 in China is a headwind for TAL's offline classroom-based training business. Although the vaccine has emerged, children below the age of 18 are not allowed to administer it. TAL's stock price might soon fall when most investors realize that the company still focused on formal or classroom-based tutorials and training.\nTAL has had stable growth since getting listed about nine years ago. Revenue has increased about 30 times, at a compound annual rate of 45.7% since then and gross margins averaged as high as 50.8%.\nResults from the last fiscal year ending February were materially affected by COVID-19 induced restrictions which had started early in China. Offline operations, primarily core Peiyou small classes, had to be quickly transferred to online platforms. As a result, some revenue was lost due to the lower selling prices for online classes, the total revenue in Q4 grew just 6.2% compared to 44.1% the previous year. Student enrollments were still up on aggregate with a rate of, 56.6% year-over-year.\nLess venture investment presence\nSince 2017, the number of investments by TAL has been decreasing. New Oriental has been more aggressive compared to TAL since 2018. TAL's financing has dropped sharply from 24 in 2016 to only two in 2020. The two investments were made on an interactive learning SaaS platform UMU and an online children's math tutoring app.\n\nThe entrance of tech giants\nSales and marketing expenses surged as the competition got tough for online players in the summer. Sales and marketing expenses surged 64% year-on-year and made up 22% of the total revenue, up 4.9% year-on-year.\nWith upstarts raising mega-rounds, things might get even tougher for TAL as more companies with huge capital to spend on marketing will try to grab market share. Other than that, Chinese giants such as Alibaba(NYSE:BABA), NetEase(NASDAQ:NTES), Tencent(OTCPK:TCEHY), ByteDance and Baidu(NASDAQ:BIDU)engage their businesses into online education. TAL needs to upgrade its online education business to stay afloat.\nThe education field is likely to be divided up by companies outside of this industry. It is also worth mentioning that the firm's key competitiveness is its in-depth application of technologies such as big data and live broadcast intelligence in China's online education industry. The firm has not spent much on research and development in terms of proprietary tuition-based technology. There are few existing barriers to entry. Teaching staff and market share could be theoretically purchased by new entrants.\nAllegation probe\nIn April 2020,TAL became one of the scandalous US-listed Chinese firmsafter admitting to inflate sales figures driven by employee wrongdoing, further hindering market confidence after Luckin Coffee's(OTCPK:LKNCY)USD 310 million fraud.\nTwo years before this event, Muddy Waters released areportnaming the company 'A Real Business With Fake Financials.' The report claimed that \"TAL commits fraud in the financials for its core Peiyou business. The Peiyou fraud is more difficult to quantify, but our research suggests fraudulent overstatement of approximately 25% to 30% of the company’s revenue.\"\nBottom line\nThis might not be a suitable time to invest in TAL Education. We give a neutral rating to the stock because we do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth. Therefore, TAL does have a chance to enhance its online business and compete with newcomers and experienced enterprises, including the likes of Zuoyebang, Yuanfudao, Baidu and NetEase.\nGaotu Group: Policy Overhang Keeps The Risk-Reward Balanced\nSummary\n\nThe longer-term outlook remains bright for Gaotu Group (formerly GSX TechEdu).\nAdverse regulatory changes remain the key risk for the near-term outlook, but a healthier longer-term dynamic should benefit profitability.\nGrowth drivers such as alternative student acquisition channels and increased contribution from adult education should help as well.\nDespite the discounted EV/Sales multiple, I would hold off on initiating a position for now pending clearance of the policy overhang.\n\nNewly rebranded Gaotu Group’s (GOTU/GSX) recently heldinvestor eventfeatured an interesting tour of its operation and top management strategy presentations, which offered timely insight into the longer-term outlook. In particular, GSX emphasized its continued focus on teaching excellence, service quality, and technology investments as key differentiators. However, policy risks remains the biggest concern, and if government intervention in the online after-school tutoring space turns out to be stricter than expected, I see material downside risks to GSX’s near-term growth trajectory. On the flip side, it could also result in a healthier industry dynamic, which should drive narrowing losses as well. While the policy reform overhang makes it difficult to turn bullish, GSX’s discounted c. 3x EV/Sales multiple also looks undemanding, keeping the risk/reward fairly balanced.\nGrowing Importance of Alternative Student Acquisition Channels\nWorryingly, GSX has seen reduced traffic acquisition in FQ4 ‘20 and FQ1 ‘21, with a whopping c. 20% lower sales lead cost in Jan-Feb 2021 (down from the Nov-Dec 2020 period). The recent decline is likely attributable to regulatory uncertainties around online traffic acquisition triggered by a recent Ministry of Education (MOE)interviewearlier this year. The significantly pressured new enrolment growth in FQ1 ‘21 may have been one of the reasons for the lower-than-expected top-line guidance as well. In response, management is exploring new student acquisition channels to offset the pressure – this includes the offline, short video, and live streaming e-commerce channels, among others. The good news is that successful expansion here could see the student acquisition cost lowered by over 50%, which is positive for the margin outlook (GSX is currently loss-making at the operating level).\n\nSource:GSX Investor Presentation Slides\nHowever, GSX is not alone in this regard – other online AST players have initiated similar moves, from online one-on-one and small-class players such as 51talk (COE), VIPKID, and New Oriental subsidiary Koolearn, whose large-class coverage has reached c.100 cities. Similarly, online large-class after-school tutoring players have also started expanding into offline acquisition through partnerships, with TAL Education (TAL) subsidiaryXueersi.comalsotying upwith Lenovo (OTCPK:LNVGY) in recent months. And with private players like Zuoyebang alsobuildingoffline traffic acquisition teams, the competitive pressures could drive downside to the near-term outlook.\nAdult Education Set to be Another Top-Line Growth Driver\nWithin the Chinese education market, adult education is also emerging as a potential growth opportunity as people are increasingly looking to upskill in an uncertain job market. Alongside income level rises, people are also spending more on education to better prepare themselves for career development. As a result, gross billings have grown at a CAGR of 24.5% and are expected to grow further at 22.4% CAGR into fiscal 2023, reaching RMB265 billion.\n\nSource:GSX Listing Prospectus Filing\nNotably, while GSX currently expects fiscal 2021 revenue growth to be in the range of 70-80% Y/Y, the adult education business is guided to be a key growth driver at +100% Y/Y revenue growth. Considering that adult education accounted for over 10% of GSX’s revenue in fiscal 2020, I expect the contribution to continue rising over time. Key areas of growth here include English training, graduate school admission exam prep, and finance-related courses. Longer-term, I think the adult education business could even see higher gross margins than K-12 after-school tutoring due to the higher enrolment/tutor ratio.\nOnline Regulations Remain the Key Concern\nLooking ahead, potential online regulations in the after-school tutoring space are concerning, with likely measures including a fake advertising ban, increased control over marketing spend in education, and more stringent quality requirements for institutions and instructors. On the flip side, these measures will also be beneficial to the overall industry development longer-term, allowing online after-school tutoring players to reinvest more dollars into improving the product and teaching quality. While clarity around the new regulations for both the offline/online markets remains lacking, I see a more positive outcome than the prior industry experience in 2018.\nAny restrictions on marketing limitation will likely have a negative impact on enrolment and sales growth in the near term but will also benefit margins due to the lower marketing spending. In turn, this should improve the longer-term economics of the business and drive narrowing losses in the upcoming quarter. Another key positive from the slower growth is that GSX will be able to focus on improving its product/service quality and extract more student lifetime value while also preserving its robust balance sheet. As of end-2020, GSX had a c. RMB8.2 billion cash position (including liquid investments), which should allow it to weather any unforeseen negative policy impacts.\n\nSource: GSX Investor Presentation Slides\nFinal Take\nOverall, regulations on marketing will likely have a negative impact on enrolment and top-line growth but should also lead to a healthier operating dynamic and narrowing losses ahead. With GSX also focused on alternative acquisition channels and tapping into markets such as adult education, I think the company could surprise positively in the upcoming quarters. While the GSX share price has suffered due to the Archegos Capital event and policy concerns, its forward EV/Sales multiple has declined significantly to c. 3x, and the widening relative discount to peers like TAL and EDU likely means the negatives have been priced in. Until the policy overhang has been lifted, however, I see the risk/reward as balanced at current levels.\nData by YCharts","news_type":1},"isVote":1,"tweetType":1,"viewCount":23,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112149296,"gmtCreate":1622857501915,"gmtModify":1634097337191,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"I do agree with this","listText":"I do agree with this","text":"I do agree with this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/112149296","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohu8.com/m/news/1106312903?lang=&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p>\n<ul>\n <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>\n <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>\n <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li>\n</ul>\n<p>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p>\n<p>Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p>\n<p>Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p>\n<p>Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p>\n<p>Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p>\n<p>BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p>\n<p>Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p>\n<p>Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p>\n<p>Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p>\n<p>Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p>\n<p><b>IPO Market Snapshot</b></p>\n<p>The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p>","source":"lsy1603787993745","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. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO</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. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 09:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MQ":"Marqeta, Inc.","ZETA":"Zeta Global Holdings Corp.","TASK":"TaskUs Inc.","DIBS":"1stdibs.com Inc.","BZ":"BOSS直聘",".SPX":"S&P 500 Index",".DJI":"道琼斯","ZME":"掌门教育","MNDY":"Monday.com Ltd.",".IXIC":"NASDAQ Composite","LFST":"LifeStance Health Group, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1},"isVote":1,"tweetType":1,"viewCount":35,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148238892,"gmtCreate":1625976961816,"gmtModify":1631892993041,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148238892","repostId":"1106289851","repostType":4,"repost":{"id":"1106289851","kind":"news","pubTimestamp":1625972710,"share":"https://www.laohu8.com/m/news/1106289851?lang=&edition=full","pubTime":"2021-07-11 11:05","market":"us","language":"en","title":"PepsiCo Reports Earnings Next Week. Buy the Stock Now, Analyst Says.","url":"https://stock-news.laohu8.com/highlight/detail?id=1106289851","media":"Barrons","summary":"A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday:","content":"<p>A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday: She’s making a buy recommendation now.</p>\n<p>On Friday, Cowen &amp; Co. analyst Vivien Azer reiterated an Outperform rating and $165 price target on PepsiCo (ticker: PEP). She’s modeling for the company to earn $1.51 a share, 2 cents below the average analyst estimate—although she notes that figure could be conservative—and organic revenue growth of 8.6%.</p>\n<p>Azer expects Frito Lay North America’s organic revenue growth to be 4%, and notes the division is holding up well despite difficult year-over-year comparisons when more consumers were snacking at home during Covid-19 restrictions.</p>\n<p>The analyst believes Pepsi’s North American beverage business, by contrast, will see its easiest comparison of the year in the second quarter, and points out that recent data shows it may be pulling ahead of Coca-Cola (KO) in terms of sales growth.</p>\n<p>Also, overall Covid-related costs should be down because of a strong vaccine rollout in the U.S., which accounts for nearly two-thirds of Pepsi’s profits. Still, Azer wrote, the lingering pandemic threat in Latin America could be a headwind in that region.</p>\n<p>Other analysts have been&nbsp;optimistic about Pepsi’s earnings&nbsp;as well. A little over half of the 23 tracked by FactSet rate it at Buy or the equivalent, with 43% on the sidelines and one bearish call. The average analyst price target is $156.02.</p>\n<p>Consensus calls for Pepsi to earn $1.53 a share on revenue of $17.97 billion. That’s up from EPS of $1.21 and revenue of $14.82 billion in the&nbsp;previous quarter, reported in April. Pepsi’s EPS hasn’t missed quarterly expectations in the past five years.</p>\n<p>Pepsi will host a conference call at 8:15 a.m. Eastern time Tuesday.</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>PepsiCo Reports Earnings Next Week. Buy the Stock Now, Analyst Says.</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\">\nPepsiCo Reports Earnings Next Week. Buy the Stock Now, Analyst Says.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/pepsico-reports-earnings-next-week-buy-the-stock-now-analyst-says-51625863176?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday: She’s making a buy recommendation now.\nOn Friday, Cowen & Co. analyst Vivien Azer reiterated an ...</p>\n\n<a href=\"https://www.barrons.com/articles/pepsico-reports-earnings-next-week-buy-the-stock-now-analyst-says-51625863176?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PEP":"百事可乐"},"source_url":"https://www.barrons.com/articles/pepsico-reports-earnings-next-week-buy-the-stock-now-analyst-says-51625863176?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106289851","content_text":"A PepsiCo bull is getting out ahead of the beverage and snack giant’s second-quarter report Tuesday: She’s making a buy recommendation now.\nOn Friday, Cowen & Co. analyst Vivien Azer reiterated an Outperform rating and $165 price target on PepsiCo (ticker: PEP). She’s modeling for the company to earn $1.51 a share, 2 cents below the average analyst estimate—although she notes that figure could be conservative—and organic revenue growth of 8.6%.\nAzer expects Frito Lay North America’s organic revenue growth to be 4%, and notes the division is holding up well despite difficult year-over-year comparisons when more consumers were snacking at home during Covid-19 restrictions.\nThe analyst believes Pepsi’s North American beverage business, by contrast, will see its easiest comparison of the year in the second quarter, and points out that recent data shows it may be pulling ahead of Coca-Cola (KO) in terms of sales growth.\nAlso, overall Covid-related costs should be down because of a strong vaccine rollout in the U.S., which accounts for nearly two-thirds of Pepsi’s profits. Still, Azer wrote, the lingering pandemic threat in Latin America could be a headwind in that region.\nOther analysts have been optimistic about Pepsi’s earnings as well. A little over half of the 23 tracked by FactSet rate it at Buy or the equivalent, with 43% on the sidelines and one bearish call. The average analyst price target is $156.02.\nConsensus calls for Pepsi to earn $1.53 a share on revenue of $17.97 billion. That’s up from EPS of $1.21 and revenue of $14.82 billion in the previous quarter, reported in April. Pepsi’s EPS hasn’t missed quarterly expectations in the past five years.\nPepsi will host a conference call at 8:15 a.m. Eastern time Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155229797,"gmtCreate":1625441294519,"gmtModify":1633940771460,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/155229797","repostId":"2148807264","repostType":4,"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144420715,"gmtCreate":1626310999237,"gmtModify":1631892993007,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144420715","repostId":"1150635961","repostType":4,"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144819962,"gmtCreate":1626274646656,"gmtModify":1631892993020,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144819962","repostId":"2151551418","repostType":4,"repost":{"id":"2151551418","kind":"news","pubTimestamp":1626271991,"share":"https://www.laohu8.com/m/news/2151551418?lang=&edition=full","pubTime":"2021-07-14 22:13","market":"us","language":"en","title":"'You could lose everything' on meme stocks: Franklin Templeton CEO","url":"https://stock-news.laohu8.com/highlight/detail?id=2151551418","media":"Yahoo Finance","summary":"The meme stock craze has cooled off — at least temporarily. Over the past week, favored equities Gam","content":"<p>The meme stock craze has cooled off — at least temporarily. Over the past week, favored equities GameStop (GME) and AMC (AMC) have plummeted, dropping about 10% and 21% respectively.</p>\n<p>The decline affirms the fears of observers who had warned that a pullback was likely for shares elevated by what some consider speculative trading.</p>\n<p>In a new interview, Franklin Templeton (BEN) CEO Jenny Johnson — whose investment firm manages more than $1.5 trillion in assets — criticized the trading as risky investing that could produce lucrative highs or devastating lows. However, she said she's \"optimistic\" about new trading technology that helps everyday people access the market, predicting the trend will give traders opportunities otherwise exclusive to the rich.</p>\n<p>\"On the meme stocks, I never like investing where there isn't fundamentals behind it,\" she says.</p>\n<p>\"I think that the challenge with things like the meme stocks is yeah, if you time it right, you're going to do great,\" adds Johnson, who became CEO at Franklin Templeton last February. \"On the other hand, you could lose everything.\"</p>\n<p>To be sure, shares in meme stock darlings GameStop and AMC remain well above where they stood at the outset of the year. GameStop has leapt more than 900% over that period, and AMC has shot up more than 1,750%.</p>\n<p>Shareholders in AMC showed their strength last week when online opposition to the potential issuance of new shares prompted CEO Adam Aron to cancel a vote on the proposal.</p>\n<p>Overall, the stock frenzy has fueled a record flow of money into the market from retail investors. Last month, the traders bought almost $28 billion of stocks and exchange-traded funds on a net basis, the largest amount in a single month since at least 2014, according to data from Vanda Research that was reported by the Wall Street Journal.</p>\n<p>But wealthy investors continue to dominate the stock market. The wealthiest 10% of U.S. families own 84% of overall equities and 92% of directly held equities, according to a 2019 Federal Reserve survey analyzed by The New York Times.</p>\n<p class=\"t-img-caption\"><img src=\"https://s.yimg.com/os/creatr-uploaded-images/2021-07/1db3e470-e499-11eb-bffd-8aa508ca017c\" tg-width=\"4889\" tg-height=\"3329\"><span>A GameStop storefront is shown before opening Thursday morning, Jan. 28, 2021, in Dallas. (AP Photo/LM Otero)ASSOCIATED PRESS</span></p>\n<p>Johnson, the granddaughter of Franklin Templeton founder Rupert Johnson, began working in the mailroom at the investment fund over holidays at age 14. After a stint at Drexel Burnham, she joined Franklin Templeton in the late '80s, serving in various executive roles before she became CEO.</p>\n<p>Johnson said new trading technology will allow everyday people to access tools and trading opportunities that had only been available to the privileged.</p>\n<p>\"You're going to see that actually what technology is doing is it is bringing to the masses what historically was only available to the ultra-high net worth,\" she says.</p>\n<p>\"What makes me more optimistic is that there's going to be these things that traditionally weren't available to everybody that now because of technology are going to actually be available as investment opportunities,\" she later adds.</p>","source":"yahoofinance","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>'You could lose everything' on meme stocks: Franklin Templeton CEO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'You could lose everything' on meme stocks: Franklin Templeton CEO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/you-could-lose-everything-on-meme-stocks-franklin-templeton-ceo-135011534.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The meme stock craze has cooled off — at least temporarily. Over the past week, favored equities GameStop (GME) and AMC (AMC) have plummeted, dropping about 10% and 21% respectively.\nThe decline ...</p>\n\n<a href=\"https://finance.yahoo.com/news/you-could-lose-everything-on-meme-stocks-franklin-templeton-ceo-135011534.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","BEN":"富兰克林资源","FELE":"富兰克林电子","GME":"游戏驿站"},"source_url":"https://finance.yahoo.com/news/you-could-lose-everything-on-meme-stocks-franklin-templeton-ceo-135011534.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2151551418","content_text":"The meme stock craze has cooled off — at least temporarily. Over the past week, favored equities GameStop (GME) and AMC (AMC) have plummeted, dropping about 10% and 21% respectively.\nThe decline affirms the fears of observers who had warned that a pullback was likely for shares elevated by what some consider speculative trading.\nIn a new interview, Franklin Templeton (BEN) CEO Jenny Johnson — whose investment firm manages more than $1.5 trillion in assets — criticized the trading as risky investing that could produce lucrative highs or devastating lows. However, she said she's \"optimistic\" about new trading technology that helps everyday people access the market, predicting the trend will give traders opportunities otherwise exclusive to the rich.\n\"On the meme stocks, I never like investing where there isn't fundamentals behind it,\" she says.\n\"I think that the challenge with things like the meme stocks is yeah, if you time it right, you're going to do great,\" adds Johnson, who became CEO at Franklin Templeton last February. \"On the other hand, you could lose everything.\"\nTo be sure, shares in meme stock darlings GameStop and AMC remain well above where they stood at the outset of the year. GameStop has leapt more than 900% over that period, and AMC has shot up more than 1,750%.\nShareholders in AMC showed their strength last week when online opposition to the potential issuance of new shares prompted CEO Adam Aron to cancel a vote on the proposal.\nOverall, the stock frenzy has fueled a record flow of money into the market from retail investors. Last month, the traders bought almost $28 billion of stocks and exchange-traded funds on a net basis, the largest amount in a single month since at least 2014, according to data from Vanda Research that was reported by the Wall Street Journal.\nBut wealthy investors continue to dominate the stock market. The wealthiest 10% of U.S. families own 84% of overall equities and 92% of directly held equities, according to a 2019 Federal Reserve survey analyzed by The New York Times.\nA GameStop storefront is shown before opening Thursday morning, Jan. 28, 2021, in Dallas. (AP Photo/LM Otero)ASSOCIATED PRESS\nJohnson, the granddaughter of Franklin Templeton founder Rupert Johnson, began working in the mailroom at the investment fund over holidays at age 14. After a stint at Drexel Burnham, she joined Franklin Templeton in the late '80s, serving in various executive roles before she became CEO.\nJohnson said new trading technology will allow everyday people to access tools and trading opportunities that had only been available to the privileged.\n\"You're going to see that actually what technology is doing is it is bringing to the masses what historically was only available to the ultra-high net worth,\" she says.\n\"What makes me more optimistic is that there's going to be these things that traditionally weren't available to everybody that now because of technology are going to actually be available as investment opportunities,\" she later adds.","news_type":1},"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177424873,"gmtCreate":1627258588492,"gmtModify":1631890801685,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Alright","listText":"Alright","text":"Alright","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/177424873","repostId":"2153354629","repostType":4,"repost":{"id":"2153354629","kind":"news","pubTimestamp":1627256716,"share":"https://www.laohu8.com/m/news/2153354629?lang=&edition=full","pubTime":"2021-07-26 07:45","market":"us","language":"en","title":"PropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel","url":"https://stock-news.laohu8.com/highlight/detail?id=2153354629","media":"Reuters","summary":"July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public","content":"<p>July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public through a merger with a blank-check firm backed by billionaires Richard Li and Peter Thiel, giving the combined company an equity value of about $1.78 billion.</p>\n<p>The deal with Bridgetown 2 Holdings, a special purpose acquisition company (SPAC), is expected to fetch proceeds of $431 million, including a private investment of $100 million from Baillie Gifford, Naya, REA Group, Akaris Global Partners, and <a href=\"https://laohu8.com/S/AONE.U\">one</a> of Malaysia's largest asset managers.</p>\n<p>Australia's REA Group has also committed to an additional $32 million investment, PropertyGuru said.</p>\n<p>The combined company will be listed on the New York Stock Exchange once the deal is finalised, PropertyGuru said in a statement.</p>\n<p>The transaction is a major development for PropertyGuru which had planned to list in Australia in October 2019 when it tried to raise about $A380 million.</p>\n<p>A listing never happened though and the float was pulled, which the company attributed to uncertain market conditions at the time.</p>\n<p>Founded in 2007, PropertyGuru hosts more than 2.8 million monthly real estate listings. It serves 37 million property seekers a month and 49,000 active property agents across Indonesia, Malaysia, Singapore, Thailand and Vietnam.</p>\n<p>The company offers digital property marketplaces to match buyers and tenants with sellers and landlords, as well as digital marketing for property agents and developers.</p>\n<p>\"The market for property is probably the oldest market in the world, and only now is it beginning to change rapidly,\" said Peter Thiel, president of Thiel Capital.</p>\n<p>\"As PropertyGuru spearheads that change in Southeast Asia, Bridgetown 2 will provide capital and expertise to accelerate it even further,\" he said.</p>\n<p>The combined company will have an enterprise value of about $1.35 billion. The deal is expected to close in the fourth quarter of 2021 or the first quarter of 2022.</p>\n<p>Merrill Lynch (Singapore) Pte Ltd is serving as exclusive financial advisor to PropertyGuru on the deal.</p>\n<p>Merrill Lynch, Citigroup, KKR Capital Markets and TPG Capital were the placement agents to Bridgetown 2. (Reporting by Noor Zainab Hussain in Bengaluru; additional reporting Scott Murdoch in Hong Kong, Editing by Devika Syamnath, Robert Birsel)</p>","source":"yahoofinance","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>PropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel</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\">\nPropertyGuru to go public in merger with SPAC backed by Richard Li, Peter Thiel\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-26 07:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-propertyguru-public-merger-spac-081616045.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public through a merger with a blank-check firm backed by billionaires Richard Li and Peter Thiel, giving ...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-propertyguru-public-merger-spac-081616045.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal","RPGRY":"REA Group Ltd","PLTR":"Palantir Technologies Inc."},"source_url":"https://finance.yahoo.com/news/1-propertyguru-public-merger-spac-081616045.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2153354629","content_text":"July 23 (Reuters) - Southeast Asian online realty company PropertyGuru on Friday agreed to go public through a merger with a blank-check firm backed by billionaires Richard Li and Peter Thiel, giving the combined company an equity value of about $1.78 billion.\nThe deal with Bridgetown 2 Holdings, a special purpose acquisition company (SPAC), is expected to fetch proceeds of $431 million, including a private investment of $100 million from Baillie Gifford, Naya, REA Group, Akaris Global Partners, and one of Malaysia's largest asset managers.\nAustralia's REA Group has also committed to an additional $32 million investment, PropertyGuru said.\nThe combined company will be listed on the New York Stock Exchange once the deal is finalised, PropertyGuru said in a statement.\nThe transaction is a major development for PropertyGuru which had planned to list in Australia in October 2019 when it tried to raise about $A380 million.\nA listing never happened though and the float was pulled, which the company attributed to uncertain market conditions at the time.\nFounded in 2007, PropertyGuru hosts more than 2.8 million monthly real estate listings. It serves 37 million property seekers a month and 49,000 active property agents across Indonesia, Malaysia, Singapore, Thailand and Vietnam.\nThe company offers digital property marketplaces to match buyers and tenants with sellers and landlords, as well as digital marketing for property agents and developers.\n\"The market for property is probably the oldest market in the world, and only now is it beginning to change rapidly,\" said Peter Thiel, president of Thiel Capital.\n\"As PropertyGuru spearheads that change in Southeast Asia, Bridgetown 2 will provide capital and expertise to accelerate it even further,\" he said.\nThe combined company will have an enterprise value of about $1.35 billion. The deal is expected to close in the fourth quarter of 2021 or the first quarter of 2022.\nMerrill Lynch (Singapore) Pte Ltd is serving as exclusive financial advisor to PropertyGuru on the deal.\nMerrill Lynch, Citigroup, KKR Capital Markets and TPG Capital were the placement agents to Bridgetown 2. (Reporting by Noor Zainab Hussain in Bengaluru; additional reporting Scott Murdoch in Hong Kong, Editing by Devika Syamnath, Robert Birsel)","news_type":1},"isVote":1,"tweetType":1,"viewCount":378,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179296737,"gmtCreate":1626529344629,"gmtModify":1631892992986,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179296737","repostId":"1171115394","repostType":4,"repost":{"id":"1171115394","kind":"news","pubTimestamp":1626441684,"share":"https://www.laohu8.com/m/news/1171115394?lang=&edition=full","pubTime":"2021-07-16 21:21","market":"us","language":"en","title":"Investors Feel Almost No Risk Of Long-Term U.S. Stock Market Downside","url":"https://stock-news.laohu8.com/highlight/detail?id=1171115394","media":"seekingalpha","summary":"Summary\n\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1","content":"<p><b>Summary</b></p>\n<ul>\n <li>The current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend.</li>\n <li>Any investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.</li>\n <li>The current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak.</li>\n</ul>\n<p>In apoll of my followers on LinkedInand Twitter, I asked, \"What US S&amp;P500 average annual return do you expect over the next 10 years?\" At the most extremes, 18% expected greater than 10%, while only 7% said less than zero percent. The majority said from 5-10%. In fact, most people see strong positive returns going forward.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4ad66b8ae3f6ba781bf8dc6539440157\" tg-width=\"654\" tg-height=\"406\" referrerpolicy=\"no-referrer\"><span>But EV/EBITDA at 17.2x is way above average</span></p>\n<p>But EV/EBITDA at 17.2x is way above average</p>\n<p>The current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend. Any investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.</p>\n<p><img src=\"https://static.tigerbbs.com/455b1c6e46a203eac21cf1558f19a8b6\" tg-width=\"644\" tg-height=\"422\" referrerpolicy=\"no-referrer\"></p>\n<p>The market hasn't touched the Shiller CAPE 2000 peak</p>\n<p>Robert Shiller's cyclically adjusted PE ratio (CAPE) is now approaching 35x. It was only higher when it hit 42x during the dot com bubble in 2000. Consider that in 2000, US government long-term bonds were yielding about 5%, versus the current 1.5%. From this chart, you can see that the US market has been in a long bull run since the 1979 interest rate peak.</p>\n<p>A fundamental investor knows that the value of a stock is largely dependent on the discount rate, which depends on the US bond rates. The current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak. Based on this chart, a fundamental investor would say that the US market is now significantly overvalued.</p>\n<p><img src=\"https://static.tigerbbs.com/4fadd296792cb1ac8c32a0fd2505f479\" tg-width=\"648\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>Though expensive, we are not in uncharted territory</p>\n<p>We calculated the US stock market EV/EBITDA for each month from 1990 to today. We then broke those into ten deciles from cheapest month to most expensive. After that, we asked, \"How often was the market trading in that state?\" We found that 20% of the time, the US market traded in the decile of 8.1x to 8.8x EV/EBITA. Twelve percent of the time, the market traded below 8.1x, and 14% of the time, the market was trading above the most expensive decile &gt;12.3x. At 17.2x EV/EBITDA multiple, the US market is clearly expensive.</p>\n<p><img src=\"https://static.tigerbbs.com/afb8b967176a977c3e3aae8221fd54c9\" tg-width=\"608\" tg-height=\"396\" referrerpolicy=\"no-referrer\"></p>\n<p>Today's buyers may not see positive returns</p>\n<p>We next asked, \"What were the forward returns earned if an investor were to buy the market at each decile?\" The results show that if you invested at the most common decile (8.1x to 8.8), you would have earned a 15% return over one year and 35% over five years.</p>\n<p>Those subsequent returns start to fall once the EV/EBTIDA rises above this decile (buying an expensive market means less gain). And most importantly, when the market trades in the most expensive decile (where we are now), subsequent 1, 2, and 3 returns were negative. An investor would have to wait five years to get a return only slightly above zero. A fundamental investor would consider this information and have a relatively negative view of the stock market.</p>\n<p><img src=\"https://static.tigerbbs.com/ee9eb026eb46cdd09709d7677a5ae00b\" tg-width=\"656\" tg-height=\"404\" referrerpolicy=\"no-referrer\">.</p>\n<p><img src=\"https://static.tigerbbs.com/ee9eb026eb46cdd09709d7677a5ae00b\" tg-width=\"656\" tg-height=\"404\" referrerpolicy=\"no-referrer\"></p>\n<p>Recent EPS collapse has been much shorter time</p>\n<p>The next chart considers the five main falls in earnings per share since 1900. One conclusion is that the fall in EPS has become less protracted. The Great Depression saw a four-year decline in earnings, while earnings fell for only 2 years from the 2000 peak and the 2007 peak. It is also fascinating to see that there was only a 20% fall in earnings in 2020, and that fall only happened over one year (2021 earnings are recovering).</p>\n<p>A fundamental investor could look at this chart and think that the recent crisis was quite minimal. This is partly because some sectors (info tech), some quality (high cash companies) and some size (large) companies did very well during this recent crisis. In addition, since many small or weak companies got destroyed, the supply of products and services has been reduced, which leads to strong pricing power for those that remain.</p>\n<p><img src=\"https://static.tigerbbs.com/445a232da0f6b76431ae38194fde2e22\" tg-width=\"622\" tg-height=\"430\" referrerpolicy=\"no-referrer\"></p>\n<p>Margin recovery is in place</p>\n<p>The net margins of corporate America have been on the rise since 1990. Over the past decade, they have averaged about 8%. The shaded areas on this chart show the period from peak to trough of net margin. The most significant thing about this chart is that the margin collapse is done and the margin recovery is underway. It is debatable whether the margin can recover to the prior peaks, but it is not unreasonable to say that the margin recovery has further to go. This could be positive for the US stock market.</p>\n<p><img src=\"https://static.tigerbbs.com/dbe8d0714e329dbc65b118f09f807e3f\" tg-width=\"658\" tg-height=\"440\" referrerpolicy=\"no-referrer\"></p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors Feel Almost No Risk Of Long-Term U.S. Stock Market Downside</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\">\nInvestors Feel Almost No Risk Of Long-Term U.S. Stock Market Downside\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 21:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4439518-investors-feel-almost-no-risk-of-long-term-u-s-stock-market-downside><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend.\nAny ...</p>\n\n<a href=\"https://seekingalpha.com/article/4439518-investors-feel-almost-no-risk-of-long-term-u-s-stock-market-downside\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://seekingalpha.com/article/4439518-investors-feel-almost-no-risk-of-long-term-u-s-stock-market-downside","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1171115394","content_text":"Summary\n\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend.\nAny investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.\nThe current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak.\n\nIn apoll of my followers on LinkedInand Twitter, I asked, \"What US S&P500 average annual return do you expect over the next 10 years?\" At the most extremes, 18% expected greater than 10%, while only 7% said less than zero percent. The majority said from 5-10%. In fact, most people see strong positive returns going forward.\nBut EV/EBITDA at 17.2x is way above average\nBut EV/EBITDA at 17.2x is way above average\nThe current trailing US EV/EBITDA at 17.2x is very high compared to its 10x average since 1990. This gives most value investors pause, but momentum investors are following this trend. Any investor who believes in the concept of reversion to the mean will be terrified by how clearly overvalued the US is.\n\nThe market hasn't touched the Shiller CAPE 2000 peak\nRobert Shiller's cyclically adjusted PE ratio (CAPE) is now approaching 35x. It was only higher when it hit 42x during the dot com bubble in 2000. Consider that in 2000, US government long-term bonds were yielding about 5%, versus the current 1.5%. From this chart, you can see that the US market has been in a long bull run since the 1979 interest rate peak.\nA fundamental investor knows that the value of a stock is largely dependent on the discount rate, which depends on the US bond rates. The current long-term US government bond rate of 1.5% is clearly supporting share prices. Suppose it was to reverse that, it would spell the end of this current market peak. Based on this chart, a fundamental investor would say that the US market is now significantly overvalued.\n\nThough expensive, we are not in uncharted territory\nWe calculated the US stock market EV/EBITDA for each month from 1990 to today. We then broke those into ten deciles from cheapest month to most expensive. After that, we asked, \"How often was the market trading in that state?\" We found that 20% of the time, the US market traded in the decile of 8.1x to 8.8x EV/EBITA. Twelve percent of the time, the market traded below 8.1x, and 14% of the time, the market was trading above the most expensive decile >12.3x. At 17.2x EV/EBITDA multiple, the US market is clearly expensive.\n\nToday's buyers may not see positive returns\nWe next asked, \"What were the forward returns earned if an investor were to buy the market at each decile?\" The results show that if you invested at the most common decile (8.1x to 8.8), you would have earned a 15% return over one year and 35% over five years.\nThose subsequent returns start to fall once the EV/EBTIDA rises above this decile (buying an expensive market means less gain). And most importantly, when the market trades in the most expensive decile (where we are now), subsequent 1, 2, and 3 returns were negative. An investor would have to wait five years to get a return only slightly above zero. A fundamental investor would consider this information and have a relatively negative view of the stock market.\n.\n\nRecent EPS collapse has been much shorter time\nThe next chart considers the five main falls in earnings per share since 1900. One conclusion is that the fall in EPS has become less protracted. The Great Depression saw a four-year decline in earnings, while earnings fell for only 2 years from the 2000 peak and the 2007 peak. It is also fascinating to see that there was only a 20% fall in earnings in 2020, and that fall only happened over one year (2021 earnings are recovering).\nA fundamental investor could look at this chart and think that the recent crisis was quite minimal. This is partly because some sectors (info tech), some quality (high cash companies) and some size (large) companies did very well during this recent crisis. In addition, since many small or weak companies got destroyed, the supply of products and services has been reduced, which leads to strong pricing power for those that remain.\n\nMargin recovery is in place\nThe net margins of corporate America have been on the rise since 1990. Over the past decade, they have averaged about 8%. The shaded areas on this chart show the period from peak to trough of net margin. The most significant thing about this chart is that the margin collapse is done and the margin recovery is underway. It is debatable whether the margin can recover to the prior peaks, but it is not unreasonable to say that the margin recovery has further to go. This could be positive for the US stock market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141018094,"gmtCreate":1625823798918,"gmtModify":1633936973081,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141018094","repostId":"2150376848","repostType":4,"repost":{"id":"2150376848","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625821544,"share":"https://www.laohu8.com/m/news/2150376848?lang=&edition=full","pubTime":"2021-07-09 17:05","market":"sh","language":"en","title":"China June new bank loans rise to 2.12 trln yuan, beat expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=2150376848","media":"Reuters","summary":"BEIJING, July 9 (Reuters) - Chinese banks extended 2.12 trillion yuan ($327 billion) in new yuan loa","content":"<p>BEIJING, July 9 (Reuters) - Chinese banks extended 2.12 trillion yuan ($327 billion) in new yuan loans in June, up from May and exceeding analysts' expectations.</p>\n<p>Analysts polled by Reuters had predicted new yuan loans would rise to 1.8 trillion yuan in June from 1.5 trillion yuan the previous month and against 1.81 trillion yuan a year earlier.</p>\n<p>Broad M2 money supply grew 8.6% from a year earlier, central bank data showed on Friday, also above estimates of 8.2% forecast in the Reuters poll. M2 grew 8.3% in May from a year ago.</p>\n<p>Outstanding yuan loans grew 12.3% from a year earlier compared with 12.2% growth in May. Analysts had expected 12.1% growth.</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>China June new bank loans rise to 2.12 trln yuan, beat expectations</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\">\nChina June new bank loans rise to 2.12 trln yuan, beat expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-09 17:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, July 9 (Reuters) - Chinese banks extended 2.12 trillion yuan ($327 billion) in new yuan loans in June, up from May and exceeding analysts' expectations.</p>\n<p>Analysts polled by Reuters had predicted new yuan loans would rise to 1.8 trillion yuan in June from 1.5 trillion yuan the previous month and against 1.81 trillion yuan a year earlier.</p>\n<p>Broad M2 money supply grew 8.6% from a year earlier, central bank data showed on Friday, also above estimates of 8.2% forecast in the Reuters poll. M2 grew 8.3% in May from a year ago.</p>\n<p>Outstanding yuan loans grew 12.3% from a year earlier compared with 12.2% growth in May. Analysts had expected 12.1% growth.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAAS":"中汽系统"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2150376848","content_text":"BEIJING, July 9 (Reuters) - Chinese banks extended 2.12 trillion yuan ($327 billion) in new yuan loans in June, up from May and exceeding analysts' expectations.\nAnalysts polled by Reuters had predicted new yuan loans would rise to 1.8 trillion yuan in June from 1.5 trillion yuan the previous month and against 1.81 trillion yuan a year earlier.\nBroad M2 money supply grew 8.6% from a year earlier, central bank data showed on Friday, also above estimates of 8.2% forecast in the Reuters poll. M2 grew 8.3% in May from a year ago.\nOutstanding yuan loans grew 12.3% from a year earlier compared with 12.2% growth in May. Analysts had expected 12.1% growth.","news_type":1},"isVote":1,"tweetType":1,"viewCount":63,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141011705,"gmtCreate":1625823773907,"gmtModify":1633936973209,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141011705","repostId":"1181179663","repostType":4,"repost":{"id":"1181179663","kind":"news","pubTimestamp":1625822664,"share":"https://www.laohu8.com/m/news/1181179663?lang=&edition=full","pubTime":"2021-07-09 17:24","market":"us","language":"en","title":"Oil prices firm as U.S. inventories decline","url":"https://stock-news.laohu8.com/highlight/detail?id=1181179663","media":"Reuters","summary":"LONDON (Reuters) - Oil prices rose for a second day on Friday as data showed a draw in U.S. inventor","content":"<p>LONDON (Reuters) - Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse.</p>\n<p>Brent crude oil futures were up 60 cents, or 0.8%, at $74.72 a barrel by 0845 GMT. U.S. West Texas Intermediate futures were up 69 cents, or 1%, at $73.63.</p>\n<p>Prices on both sides of the Atlantic were on track for a weekly loss of nearly 2%, dragged down by the collapse of output talks between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+.</p>\n<p>U.S. crude and gasoline stocks fell and gasoline demand reached its highest since 2019, the U.S. Energy Information Administration said on Thursday, signalling increasing strength in the economy.</p>\n<p>“A bullish EIA stock report helped the oil market rebound into the black,” said Stephen Brennock of oil broker PVM.</p>\n<p>“Clearly, U.S. oil markets are tight. However ... the only way to prevent further losses is for the threat of an OPEC+ price war to be contained,” he added.</p>\n<p>Gains in oil prices were capped by worries that members of the OPEC+ group could be tempted to abandon output limits that they have followed during the COVID-19 pandemic, with talks breaking down because of an impasse between major producers Saudi Arabia and the United Arab Emirates.</p>\n<p>The two Gulf OPEC allies are at odds over a proposed deal that would have brought more oil to the market.</p>\n<p>Russia was trying to mediate in an effort to strike a deal to raise output, OPEC+ sources said on Wednesday. The United States had high level conversations with officials in Saudi Arabia and the UAE, the White House said on Tuesday.</p>\n<p>The global spread of the Delta coronavirus variant and worries it could stall a worldwide economic recovery also weighed on oil prices.</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>Oil prices firm as U.S. inventories decline</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\">\nOil prices firm as U.S. inventories decline\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 17:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/global-oil/update-3-oil-prices-firm-as-u-s-inventories-decline-idUSL2N2OL07F><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>LONDON (Reuters) - Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse...</p>\n\n<a href=\"https://www.reuters.com/article/global-oil/update-3-oil-prices-firm-as-u-s-inventories-decline-idUSL2N2OL07F\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚"},"source_url":"https://www.reuters.com/article/global-oil/update-3-oil-prices-firm-as-u-s-inventories-decline-idUSL2N2OL07F","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181179663","content_text":"LONDON (Reuters) - Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse.\nBrent crude oil futures were up 60 cents, or 0.8%, at $74.72 a barrel by 0845 GMT. U.S. West Texas Intermediate futures were up 69 cents, or 1%, at $73.63.\nPrices on both sides of the Atlantic were on track for a weekly loss of nearly 2%, dragged down by the collapse of output talks between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+.\nU.S. crude and gasoline stocks fell and gasoline demand reached its highest since 2019, the U.S. Energy Information Administration said on Thursday, signalling increasing strength in the economy.\n“A bullish EIA stock report helped the oil market rebound into the black,” said Stephen Brennock of oil broker PVM.\n“Clearly, U.S. oil markets are tight. However ... the only way to prevent further losses is for the threat of an OPEC+ price war to be contained,” he added.\nGains in oil prices were capped by worries that members of the OPEC+ group could be tempted to abandon output limits that they have followed during the COVID-19 pandemic, with talks breaking down because of an impasse between major producers Saudi Arabia and the United Arab Emirates.\nThe two Gulf OPEC allies are at odds over a proposed deal that would have brought more oil to the market.\nRussia was trying to mediate in an effort to strike a deal to raise output, OPEC+ sources said on Wednesday. The United States had high level conversations with officials in Saudi Arabia and the UAE, the White House said on Tuesday.\nThe global spread of the Delta coronavirus variant and worries it could stall a worldwide economic recovery also weighed on oil prices.","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112141395,"gmtCreate":1622857542217,"gmtModify":1634097336060,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Maybe a bull market will help my portfolio to increase the earnings","listText":"Maybe a bull market will help my portfolio to increase the earnings","text":"Maybe a bull market will help my portfolio to increase the earnings","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/112141395","repostId":"1198786025","repostType":4,"repost":{"id":"1198786025","kind":"news","pubTimestamp":1622849125,"share":"https://www.laohu8.com/m/news/1198786025?lang=&edition=full","pubTime":"2021-06-05 07:25","market":"us","language":"en","title":"S&P 500 rises on Friday to close out winning week near a record high","url":"https://stock-news.laohu8.com/highlight/detail?id=1198786025","media":"CNBC","summary":"U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.The S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-time high reached last month. The Dow Jones Industrial Average gained 179.35 points to 34,756.39. The Nasdaq Composite outperformed with a nearly 1.5% rally to 13,814.49.The major averages all registered modest gains for the week. The blue-chip Dow and the S&P 500 advanced about 0.7% and 0.6%, respec","content":"<div>\n<p>U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.\nThe S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 rises on Friday to close out winning week near a record high</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\">\nS&P 500 rises on Friday to close out winning week near a record high\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-05 07:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.\nThe S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/06/03/stock-market-futures-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1198786025","content_text":"U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.\nThe S&P 500 rose about 0.9% to 4,229.89, sitting less than 0.2% from its all-time high reached last month. The Dow Jones Industrial Average gained 179.35 points to 34,756.39. The Nasdaq Composite outperformed with a nearly 1.5% rally to 13,814.49.\nThe major averages all registered modest gains for the week. The blue-chip Dow and the S&P 500 advanced about 0.7% and 0.6%, respectively, on the week for their second straight positive week. The tech-heavy Nasdaq gained just shy of 0.5% this week for its third winning week in a row.\nThe U.S. economy added 559,000 jobs in May, the Labor Department said on Friday. The number came in slightly lower than an estimate of 671,000 from economists surveyed by Dow Jones, but still showed a healthy rebound in the labor market. It’s an improvement from the upwardly revised 278,000 payrolls added in April.\nThe unemployment rate fell to 5.8% from 6.1%, which was better than the estimate of 5.9%. Many believe the jobs report, while solid, is not strong enough to trigger the Federal Reserve to dial back its bond buying program.\nThe jobs number is “goldilocks for risk,” said John Briggs, global head of strategy at NatWest Markets. It’s “not too hot to bring in the Fed and not too cold to worry about the economy.”\nThe 10-year Treasury yield dipped slightly following the jobs report. Bond yields had jumped higher in recent months amid rising inflation expectations.\n“While the job gains were somewhat modest relative to expectations, the good news is the figure rebounded from last month’s disappointing miss,” said Charlie Ripley, vice president of portfolio management at Allianz Investment Management. “Overall, today’s report does provide progress in the right direction.”\nMeme stocks continued their wild prices swings on Friday, but this time to the downside. AMC Entertainment ended the session down about 6.7%, but still gained more than 80% this week. BlackBerry fell 12.7% Friday, paring its rally this week to 37%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":45,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808437964,"gmtCreate":1627605514158,"gmtModify":1631890801678,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/808437964","repostId":"2155840271","repostType":4,"isVote":1,"tweetType":1,"viewCount":128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155221136,"gmtCreate":1625441339825,"gmtModify":1633940770035,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155221136","repostId":"1104835932","repostType":4,"repost":{"id":"1104835932","kind":"news","pubTimestamp":1625276444,"share":"https://www.laohu8.com/m/news/1104835932?lang=&edition=full","pubTime":"2021-07-03 09:40","market":"us","language":"en","title":"Taiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It","url":"https://stock-news.laohu8.com/highlight/detail?id=1104835932","media":"The Street","summary":"I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.Thinking about... Taiwan Semiconductor  . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections,","content":"<blockquote>\n <i>I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.</i>\n</blockquote>\n<p>Thinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.</p>\n<p>The range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.</p>\n<p><b>This Week</b></p>\n<p>It was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).</p>\n<p>Early this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.</p>\n<p>Just a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.</p>\n<p>As an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.</p>\n<p><b>Wall Street</b></p>\n<p>Of those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.</p>\n<p><b>The Chart</b></p>\n<p><img src=\"https://static.tigerbbs.com/19c41db815e4b2cbbc0f31979123e544\" tg-width=\"700\" tg-height=\"530\" referrerpolicy=\"no-referrer\"></p>\n<p>Readers will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.</p>\n<p><b>The Plan</b></p>\n<p>Regular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.</p>\n<p>I am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.</p>\n<p>I am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.</p>\n<p>I think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).</p>","source":"lsy1610613172068","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>Taiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It</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\">\nTaiwan Semiconductor Is Ripe for Entry: Here's How I'm Playing It\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 09:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://realmoney.thestreet.com/investing/taiwan-semiconductor-is-ripe-for-entry-here-s-how-i-m-playing-it-15702133?puc=yahoo&cm_ven=YAHOO><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.\n\nThinking about... Taiwan Semiconductor (TSM) . Taiwan ...</p>\n\n<a href=\"https://realmoney.thestreet.com/investing/taiwan-semiconductor-is-ripe-for-entry-here-s-how-i-m-playing-it-15702133?puc=yahoo&cm_ven=YAHOO\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","MU":"美光科技","AMD":"美国超微公司","NVDA":"英伟达","MRVL":"迈威尔科技","INTC":"英特尔","TSM":"台积电","AMAT":"应用材料"},"source_url":"https://realmoney.thestreet.com/investing/taiwan-semiconductor-is-ripe-for-entry-here-s-how-i-m-playing-it-15702133?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104835932","content_text":"I've been hot for the semis for a good while now because of the widely covered shortages that are creating significant pricing power.\n\nThinking about... Taiwan Semiconductor (TSM) . Taiwan Semiconductor reports Q2 financial performance in two weeks, on July 16th. Currently, Wall Street is looking for EPS of $0.93, without much divergence in opinion. This name is not as highly followed across the community of analysts. I can only find four analysts that have gone as far as to make quarterly projections, six that have made annual projections, and just two that have really stuck their necks out and stated a price target at any point in the past six months.\nThe range of EPS expectations for Q2 EPS for TSM, across those four analysts is just $0.91 to $0.95. Wall Street is looking for approximately $13.2 billion in revenue generation for the quarter, which would be year over year sales growth of about 27%. This would be an acceleration in sales growth for a second consecutive quarter.\nThis Week\nIt was Tuesday. DigiTimes reports that Taiwan Semiconductor is expected to record record revenues for June, due to shipments of iPhones showing up in the data. Apparently, reduced purchases by client Bitmain, as China bans Bitcoin mining had not taken the toll on TSM sales as some had expected. Demand for 5nm and 7nm processors had offset the loss of that mining business as the firm shipped chips for Apple's (AAPL) smartphones in time to appear in June's numbers. The expectation is that the firm stays on course for 20% sales growth for the fiscal year, and that June could be flat from May (which is a good thing).\nEarly this (Friday) morning, news broke that Apple and Intel (INTC) will be the first customers to test TSM's 3nm production technology, which if all goes well, deploys toward the back half of 2022. Nikkei Asia reports that Intel is planning at least two projects to design CPUs for notebooks and data centers around the new 3nm chips.\nJust a quick tutorial. TSM's 5nm chips are the most advanced chips available and if you have an iPhone 12, you have one of these chips. TSM is indicating that the new 3nm chips will offer a 10% to 15% boost to computing performance compared to the current 5nm product, while also reducing power consumption by 25% to 30%.\nAs an aside, Intel announced the delay of the Sapphire Rapids data center processor earlier this week. While this is seen around Wall Street as yet another chance for Advanced Micro Devices (AMD) , and even Nvidia (NVDA) , to tackle even more market share away from the lumbering giant, but also makes at least this investor wonder just how Intel thinks they are going to get to a point anytime soon where they can compete with the likes of Taiwan Semiconductor as a global foundry to other chip designers.\nWall Street\nOf those few analysts that I mentioned who actually cover the name, only one reacted to this news. Susquehanna's five star (rated at TipRanks) analyst Mehdi Hosseini upgraded the name from \"Negative\" to \"Neutral\", while upping his target price from $85 to $105. The only other analyst with a recent target price is Jim Kelleher of Argus Research (also five stars). Kelleher initiated the name a week earlier as a \"Buy\" with a $150 target.\nThe Chart\n\nReaders will see that in late April, these shares managed to turn a descending triangle (which is a bearish pattern) into a flat basing pattern without ever allowing the triangle to close. Since bottoming, TSM has retaken both the 21 day EMA and the 50 day SMA, using the former as support on weakness just yesterday.\nThe Plan\nRegular followers well know that I have been hot for the semis for a good while now, in spite of, or rather because of the widely covered shortages that are creating significant pricing power.\nI am already long AMD, and Marvell Technology (MRVL) , both of whom have been solid investments. I am long Micron (MU) , which looked good until this week. I am long Nvidia which has simply been epic.\nI am also long semiconductor equipment names... Applied Materials (AMAT) , and Brooks Automation (BRKS) , two names that have been good, and meh, respectively. I probably have room for a large foundry that will probably make short work of Intel (my opinion) once Intel tries to move in on their business.\nI think TSM is ripe for entry, perhaps to the tune of 1/8 of intended position size. I would expect to add a second tranche of 1/8 at either a test of the 21 day EMA or a retaking of the $122 level, which is our pivot. Our target price upon taking that pivot will be $144, while for now (after purchasing these shares), I will go with a panic point of $110 (8% discount to initial entry).","news_type":1},"isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152828501,"gmtCreate":1625282123403,"gmtModify":1633941774769,"author":{"id":"3574881932341088","authorId":"3574881932341088","name":"46afca07","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574881932341088","authorIdStr":"3574881932341088"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/152828501","repostId":"1146176335","repostType":4,"repost":{"id":"1146176335","kind":"news","pubTimestamp":1625277627,"share":"https://www.laohu8.com/m/news/1146176335?lang=&edition=full","pubTime":"2021-07-03 10:00","market":"us","language":"en","title":"Can Alibaba Turn Around Its Woes in the Second Half of 2021?","url":"https://stock-news.laohu8.com/highlight/detail?id=1146176335","media":"The Street","summary":"Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?Alibaba  -Get Report has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.Howeve","content":"<blockquote>\n Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?\n</blockquote>\n<p>Alibaba&nbsp;(<b>BABA</b>) -Get Report&nbsp;has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.</p>\n<p>Regulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.</p>\n<p>Investors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.</p>\n<p>However, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.</p>\n<p>All of this comes as the S&amp;P 500 and Nasdaq continue to grind outnew all-time highs.</p>\n<p>It also comes as FAANG stocks continue to trade incredibly well. Alphabet&nbsp;(<b>GOOGL</b>) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix&nbsp;(<b>NFLX</b>) -Get Report&nbsp;is the worst, with a 2.3% drop.</p>\n<p>Alibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.</p>\n<p>Can it turn around its woes in the second half and start rallying higher?</p>\n<p><img src=\"https://static.tigerbbs.com/9975f383919ff8cfc34fca49a32d8e8f\" tg-width=\"700\" tg-height=\"494\"></p>\n<p>Call me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.</p>\n<p>The overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon&nbsp;(<b>AMZN</b>) -Get Report.Eventually, it will perform better&nbsp;- it’s a question of “when” and not “if.”</p>\n<p>Shares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.</p>\n<p>Specifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.</p>\n<p>Let’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.</p>\n<p>However, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.</p>\n<p>A push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.</p>\n<p>Keep the risk in mind but this could be a solid second-half rebound play.</p>","source":"lsy1610613172068","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>Can Alibaba Turn Around Its Woes in the Second Half of 2021?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCan Alibaba Turn Around Its Woes in the Second Half of 2021?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-03 10:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/alibaba-baba-stock-second-half-2021-trading?puc=yahoo&cm_ven=YAHOO><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?\n\nAlibaba (BABA) -Get Report has been a total dog so far this year. Shares were ...</p>\n\n<a href=\"https://www.thestreet.com/investing/alibaba-baba-stock-second-half-2021-trading?puc=yahoo&cm_ven=YAHOO\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09618":"京东集团-SW","BABA":"阿里巴巴"},"source_url":"https://www.thestreet.com/investing/alibaba-baba-stock-second-half-2021-trading?puc=yahoo&cm_ven=YAHOO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146176335","content_text":"Alibaba has been a sore laggard compared with its large- and mega-cap peers. Can that change in the second half of 2021?\n\nAlibaba (BABA) -Get Report has been a total dog so far this year. Shares were trading well into the fourth quarter of 2020 but then a string of issues pummeled the stock.\nRegulators disrupted Ant's initial public offering, then dug deeper on Alibaba and dialed up the heat.\nInvestors don’t like regulatory issues as it is but particularly when we’re dealing with Chinese regulators.\nHowever, in April, Alibaba paid a smaller-than-expectedbut still record fine, hoping to puts its regulatory issues behind it. Still, the stock hasn’t responded the way bulls were hoping.\nAll of this comes as the S&P 500 and Nasdaq continue to grind outnew all-time highs.\nIt also comes as FAANG stocks continue to trade incredibly well. Alphabet (GOOGL) -Get Reportis the top performerwith a near-40% gain in the first half of the year, while Netflix (NFLX) -Get Report is the worst, with a 2.3% drop.\nAlibaba has a similar first-half performance, down 2.6%. However, it’s doing far worse from the highs, down more than 30%.\nCan it turn around its woes in the second half and start rallying higher?\n\nCall me a hopeless optimist, but I feel that Alibaba can have a solid second-half performance.\nThe overall market has done too well and so has large-cap tech. The fundamentals of the business are intact and growth is strong. It’s like Amazon (AMZN) -Get Report.Eventually, it will perform better - it’s a question of “when” and not “if.”\nShares continue to hold the $210 to $212 area and have recently cleared downtrend resistance (blue line). That said, there’s plenty of overhead hurdles.\nSpecifically, Alibaba stock is struggling with the 21-week moving average, as well as the 21-month and 10-month moving averages.\nLet’s be clear: There are not a lot of bullish technical components here. If Alibaba stock could hold the 10-week moving average on this week’s dip, I’d feel better about it.\nHowever, as long as it can hold up over the $210 level and really, the 200-week moving average, I feel okay about Alibaba going into the next six months.\nA push over $235 - thus putting it over all of the moving average hurdles mentioned above - could open up a run to $250, then $263. Above $275 and $300 is in play.\nKeep the risk in mind but this could be a solid second-half rebound play.","news_type":1},"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}