KaedeNyu的个人主页 - 老虎社区

KaedeNyu

KaedeNyu

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0勋章

2021-07-14

$Innerscope Hearing Technologies, Inc.(INND)$confused and sad right now but still holding this gem.

2021-07-12

$Innerscope Hearing Technologies, Inc.(INND)$no fear, our day is coming.

2021-06-11

clinical stg 2

2021-06-09

Exited after an eternity.

2021-05-30

$Innerscope Hearing Technologies, Inc.(INND)$want to load more but tiget does not allow.

2021-05-08

买进吧！！！

2021-05-07

$Innerscope Hearing Technologies, Inc.(INND)$再接再厉，掉了我再买

2021-05-07

在买吗？说好这个月会current的.

2021-05-05

$Innerscope Hearing Technologies, Inc.(INND)$又加股了， DCA down!!!

2021-05-04

$Innerscope Hearing Technologies, Inc.(INND)$给好奇的朋友们看，我是对这个股很有信心喔。

2021-05-04

再掉我再买

2021-05-04

tech stocks overvalued

Nasdaq fell nearly 2% as tech shares lead losses

2021-05-03

hope innd takes over this

2021-05-03

$Innerscope Hearing Technologies, Inc.(INND)$bag holderrr

2021-05-02

$Amazonas Florestal Ltd(AZFL)$dca down?

2021-05-02

快上呀，这个股

2021-04-30

fall more, i buy

抱歉，原内容已删除

2021-04-30

wow

Why Warren Buffett invested in Coca-Cola and its lesson

2021-04-30

sad please wait for me

2021-04-29

$BlackBerry(BB)$算了吧

去老虎APP查看更多动态

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stocks overvalued","listText":"tech stocks overvalued","text":"tech stocks overvalued","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/106451674","repostId":"1180068632","repostType":4,"repost":{"id":"1180068632","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":1620138358,"share":"https://www.laohu8.com/m/news/1180068632?lang=&edition=full","pubTime":"2021-05-04 22:25","market":"us","language":"en","title":"Nasdaq fell nearly 2% as tech shares lead losses","url":"https://stock-news.laohu8.com/highlight/detail?id=1180068632","media":"Tiger Newspress","summary":"(May 4) Nasdaq drops nearly 2% as tech shares lead losses. Apple, NVDA, Paypal fell more than3%.","content":"<p>(May 4)&nbsp;Nasdaq drops nearly&nbsp;2% as tech shares lead losses.&nbsp;Apple,&nbsp;NVDA,&nbsp;Paypal&nbsp;fell&nbsp;more&nbsp;than3%.</p><p><img src=\"https://static.tigerbbs.com/bf1960ead233b9384cec85af5c90acae\" tg-width=\"910\" tg-height=\"479\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f72deebc90969bf827ab4e18b05f7324\" tg-width=\"1866\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></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>Nasdaq fell nearly 2% as tech shares lead losses</title>\n<style 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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\">\nNasdaq fell nearly 2% as tech shares lead losses\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\">2021-05-04 22:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(May 4)&nbsp;Nasdaq drops nearly&nbsp;2% as tech shares lead losses.&nbsp;Apple,&nbsp;NVDA,&nbsp;Paypal&nbsp;fell&nbsp;more&nbsp;than3%.</p><p><img src=\"https://static.tigerbbs.com/bf1960ead233b9384cec85af5c90acae\" tg-width=\"910\" tg-height=\"479\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/f72deebc90969bf827ab4e18b05f7324\" tg-width=\"1866\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180068632","content_text":"(May 4) Nasdaq drops nearly 2% as tech shares lead losses. Apple, NVDA, Paypal fell more than3%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":78,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108472892,"gmtCreate":1620051704316,"gmtModify":1631888512752,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"hope innd takes over this","listText":"hope innd takes over this","text":"hope innd takes over this","images":[{"img":"https://static.tigerbbs.com/a3aaac2725fecd728cfe925335ae1143","width":"1440","height":"2793"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108472892","isVote":1,"tweetType":1,"viewCount":69,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":108476862,"gmtCreate":1620051666056,"gmtModify":1631886457730,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/INND\">$Innerscope Hearing Technologies, Inc.(INND)$</a>bag holderrr","listText":"<a href=\"https://laohu8.com/S/INND\">$Innerscope Hearing Technologies, Inc.(INND)$</a>bag holderrr","text":"$Innerscope Hearing Technologies, Inc.(INND)$bag holderrr","images":[{"img":"https://static.tigerbbs.com/baef7868befb2f8007b1db3f96050452","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/108476862","isVote":1,"tweetType":1,"viewCount":279,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":108024777,"gmtCreate":1619964992599,"gmtModify":1631888512767,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AZFL\">$Amazonas Florestal Ltd(AZFL)$</a>dca down?","listText":"<a href=\"https://laohu8.com/S/AZFL\">$Amazonas Florestal Ltd(AZFL)$</a>dca down?","text":"$Amazonas Florestal Ltd(AZFL)$dca down?","images":[{"img":"https://static.tigerbbs.com/d8d712c4dc93b24d30ec6b5336a45726","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108024777","isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":108024431,"gmtCreate":1619964968623,"gmtModify":1631888512785,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"快上呀，这个股","listText":"快上呀，这个股","text":"快上呀，这个股","images":[{"img":"https://static.tigerbbs.com/159a2488d457cd388daa379d07764b2f","width":"1440","height":"2664"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108024431","isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":103620770,"gmtCreate":1619778971690,"gmtModify":1631888512799,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"fall more, i buy","listText":"fall more, i buy","text":"fall more, i buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103620770","repostId":"1115027864","repostType":4,"isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103620230,"gmtCreate":1619778944420,"gmtModify":1634210005144,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103620230","repostId":"1198321864","repostType":4,"repost":{"id":"1198321864","kind":"news","pubTimestamp":1619776602,"share":"https://www.laohu8.com/m/news/1198321864?lang=&edition=full","pubTime":"2021-04-30 17:56","market":"us","language":"en","title":"Why Warren Buffett invested in Coca-Cola and its lesson","url":"https://stock-news.laohu8.com/highlight/detail?id=1198321864","media":"Yahoo","summary":"Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing ","content":"<p>Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing some of the best returns, with the stock up over 2,000% since the Oracle of Omaha started buying it 33 years ago. Modern investors looking to navigate the next decade would be well-served to learn how Buffett made this profitable calculation.</p>\n<p>At a recentYahoo Finance Plus webinar, Bill Smead, chief investment officer at Smead Capital Management, began the lesson by explaining how Buffett manages growth and value in the Berkshire portfolio.</p>\n<p>\"To Buffett and [Charlie] Munger, all investing is value investing. They want to buy the bird in the hand, which is worth two in the bush. They want to buy something for well less than they think it's worth. So the ideal thing in investing is based on the mathematics of common stock investing. If you buy a stock for $30 and you pay cash, the worst thing that could possibly happen to you is it goes to zero. But the best thing that could possibly happen to you is exponential,\" says Smead.</p>\n<p>Smead explains how Buffett and Munger differ from legendary value investor Benjamin Graham and why value and growth aren't mutually exclusive. Graham would \"buy 200 cigar butts at half the price that they're worth, and through the market's movements [would] get wealthier doing that,\" says Smead.</p>\n<p>Buffett, on the other hand, wants to \"buy a business that is growing over the decades at a time when other people are scared to death or don't understand why it's going to be such a good thing over the next 20 or 30 years — and then enjoy a double whammy, which is the re-evaluation.\" Smead explains this is \"the price that people are willing to pay for each dollar of earnings growth as well as the earnings number [itself] grows.\"</p>\n<p>Coca-Cola a risky bet</p>\n<p>Berkshire first bought Coke stock from 1988 to 1989,scooping upover 23 million shares. WhenBuffett first started buying in the first quarter, many investors were still skittish from the Black Monday crash in October 1987. Buffett going big on the stock was considered risky, especially because it was not a typical Berkshire investment.</p>\n<p>Buffett defended the position in the 1988 annual Berkshire letter to shareholders with what would become one of hismost famous aphorisms. \"In 1988 we made major purchases of Federal Home Loan Mortgage ... and Coca Cola. We expect to hold these securities for a long time. In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever,\" said Buffett.</p>\n<p>Berkshire more than quadrupled the position to 100 million shares by 1994 and to this day hasn't sold any. After two stock splits, the share count is now 400 million, but Berkshire's cost basis has remained $1.3 billion since 1994. As of year-end 2020, the investment was worth $21.5 billion, a return of 1550%, not including dividends. (Berkshire owns 9.3% of all Coke shares outstanding as of 2020 year-end.)</p>\n<p>But the 1987 crash hangover had faded for Buffett, and the world was changing. The Soviet empire was beginning to crumble, and the Berlin Wall was about to topple — which it finally did in November 1989.</p>\n<p>Smead relates his own experience as a broker in the 1980s to Buffett, saying, \"Buffett [was buying] Coca-Cola in '89 at about 18 times earnings. Well, I started in the investment business in 1980 as a stockbroker at Drexel Burnham Lambert. And my first stock that I was pitching to people was Coca-Cola — $30 a share. It was at six times earnings paying a 5% dividend. When Buffett bought in eight years later, he paid six times what I was trying to pay for it.\"</p>\n<p>Smead explains how investor sentiment changed throughout the 1980s, as memories of the tumultuous 1970s faded and morphed into optimism over abull marketthat would become one of history's longest and most profitable.</p>\n<p>\"I would be destitute and living in a tent in downtown Phoenix or Downtown Seattle if I kept pitching [Coca-Cola] stock because no one would buy it. Virtually, no one wanted it. Common stock ownership in 1981 was 8% of U.S. household assets — off the charts low. No one wanted that company,\" he says.</p>\n<p>Smead explains how the changing political environment would also change the macro picture, providing new opportunities and markets for companies. \"[A] number of countries that used to be closed were going to open their doors. And the Coca-Cola corporation was going to be able to sell their beverages to a huge part of the population that they had never sold it to before. And in emerging markets and less wealthy countries, that 'clean, something to drink' was very valuable.\"</p>\n<p>New investment opportunities post-COVID</p>\n<p>In the present day, the pandemic has thrown the macro picture into upheaval again, presenting investors with a new set of challenges. Smead assesses the demographic changes afoot and sets the stage for what he believes are new, secular investment opportunities.</p>\n<p>\"We looked at the prior time when the 30- to 45-year-old-age group was dramatically larger than the previous group, the ones that preceded them. And that was the baby boomers taking the place of the silent generation in the 70s and 80s ... And we now have 90 million millennials — not too long from now, 95 million — that are going to take 65 million Gen Xers place in the 30- to 45-year-old age bracket. So that just creates a huge amount of demand for necessities,\" he says.</p>\n<p>Smead references research from Fundstrat Global Advisors that ranks the industries it expects millennials to disrupt as their spending eclipses that of boomers. \"At the top of that list is mortgage interest and finance charges. So long before it was in the news, long before it was popular to think about, we have been over-owning the homebuilders, knowing that we have years of building homes to make up the differential between demand for homes, that population will drive the existing homes for sale,\" Smead says.</p>\n<p>Smead expectsstock pickers to outperformpassive investors over the coming decade. He also sees the footwear and household furnishings and equipment industries to outperform based on the same demographic trends relating to homebuilders.</p>\n<p>\"[T]he irony of the pandemic is: It's actually catalyzed one of our most important themes, which is the necessity spending of the millennial age group,\" says Smead.</p>","source":"lsy1584348713084","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>Why Warren Buffett invested in Coca-Cola and its lesson</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\">\nWhy Warren Buffett invested in Coca-Cola and its lesson\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 17:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/why-warren-buffett-invested-in-coca-cola-165914721.html><strong>Yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing some of the best returns, with the stock up over 2,000% since the Oracle of Omaha started buying it ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-warren-buffett-invested-in-coca-cola-165914721.html\">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://finance.yahoo.com/news/why-warren-buffett-invested-in-coca-cola-165914721.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198321864","content_text":"Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing some of the best returns, with the stock up over 2,000% since the Oracle of Omaha started buying it 33 years ago. Modern investors looking to navigate the next decade would be well-served to learn how Buffett made this profitable calculation.\nAt a recentYahoo Finance Plus webinar, Bill Smead, chief investment officer at Smead Capital Management, began the lesson by explaining how Buffett manages growth and value in the Berkshire portfolio.\n\"To Buffett and [Charlie] Munger, all investing is value investing. They want to buy the bird in the hand, which is worth two in the bush. They want to buy something for well less than they think it's worth. So the ideal thing in investing is based on the mathematics of common stock investing. If you buy a stock for $30 and you pay cash, the worst thing that could possibly happen to you is it goes to zero. But the best thing that could possibly happen to you is exponential,\" says Smead.\nSmead explains how Buffett and Munger differ from legendary value investor Benjamin Graham and why value and growth aren't mutually exclusive. Graham would \"buy 200 cigar butts at half the price that they're worth, and through the market's movements [would] get wealthier doing that,\" says Smead.\nBuffett, on the other hand, wants to \"buy a business that is growing over the decades at a time when other people are scared to death or don't understand why it's going to be such a good thing over the next 20 or 30 years — and then enjoy a double whammy, which is the re-evaluation.\" Smead explains this is \"the price that people are willing to pay for each dollar of earnings growth as well as the earnings number [itself] grows.\"\nCoca-Cola a risky bet\nBerkshire first bought Coke stock from 1988 to 1989,scooping upover 23 million shares. WhenBuffett first started buying in the first quarter, many investors were still skittish from the Black Monday crash in October 1987. Buffett going big on the stock was considered risky, especially because it was not a typical Berkshire investment.\nBuffett defended the position in the 1988 annual Berkshire letter to shareholders with what would become one of hismost famous aphorisms. \"In 1988 we made major purchases of Federal Home Loan Mortgage ... and Coca Cola. We expect to hold these securities for a long time. In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever,\" said Buffett.\nBerkshire more than quadrupled the position to 100 million shares by 1994 and to this day hasn't sold any. After two stock splits, the share count is now 400 million, but Berkshire's cost basis has remained $1.3 billion since 1994. As of year-end 2020, the investment was worth $21.5 billion, a return of 1550%, not including dividends. (Berkshire owns 9.3% of all Coke shares outstanding as of 2020 year-end.)\nBut the 1987 crash hangover had faded for Buffett, and the world was changing. The Soviet empire was beginning to crumble, and the Berlin Wall was about to topple — which it finally did in November 1989.\nSmead relates his own experience as a broker in the 1980s to Buffett, saying, \"Buffett [was buying] Coca-Cola in '89 at about 18 times earnings. Well, I started in the investment business in 1980 as a stockbroker at Drexel Burnham Lambert. And my first stock that I was pitching to people was Coca-Cola — $30 a share. It was at six times earnings paying a 5% dividend. When Buffett bought in eight years later, he paid six times what I was trying to pay for it.\"\nSmead explains how investor sentiment changed throughout the 1980s, as memories of the tumultuous 1970s faded and morphed into optimism over abull marketthat would become one of history's longest and most profitable.\n\"I would be destitute and living in a tent in downtown Phoenix or Downtown Seattle if I kept pitching [Coca-Cola] stock because no one would buy it. Virtually, no one wanted it. Common stock ownership in 1981 was 8% of U.S. household assets — off the charts low. No one wanted that company,\" he says.\nSmead explains how the changing political environment would also change the macro picture, providing new opportunities and markets for companies. \"[A] number of countries that used to be closed were going to open their doors. And the Coca-Cola corporation was going to be able to sell their beverages to a huge part of the population that they had never sold it to before. And in emerging markets and less wealthy countries, that 'clean, something to drink' was very valuable.\"\nNew investment opportunities post-COVID\nIn the present day, the pandemic has thrown the macro picture into upheaval again, presenting investors with a new set of challenges. Smead assesses the demographic changes afoot and sets the stage for what he believes are new, secular investment opportunities.\n\"We looked at the prior time when the 30- to 45-year-old-age group was dramatically larger than the previous group, the ones that preceded them. And that was the baby boomers taking the place of the silent generation in the 70s and 80s ... And we now have 90 million millennials — not too long from now, 95 million — that are going to take 65 million Gen Xers place in the 30- to 45-year-old age bracket. So that just creates a huge amount of demand for necessities,\" he says.\nSmead references research from Fundstrat Global Advisors that ranks the industries it expects millennials to disrupt as their spending eclipses that of boomers. \"At the top of that list is mortgage interest and finance charges. So long before it was in the news, long before it was popular to think about, we have been over-owning the homebuilders, knowing that we have years of building homes to make up the differential between demand for homes, that population will drive the existing homes for sale,\" Smead says.\nSmead expectsstock pickers to outperformpassive investors over the coming decade. 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nio?","listText":"Tesla or nio?","text":"Tesla or nio?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/349952051","repostId":"2124875875","repostType":4,"repost":{"id":"2124875875","kind":"news","pubTimestamp":1617366960,"share":"https://www.laohu8.com/m/news/2124875875?lang=&edition=full","pubTime":"2021-04-02 20:36","market":"us","language":"en","title":"Tesla Q1 2021 Vehicle Production & Deliveries","url":"https://stock-news.laohu8.com/highlight/detail?id=2124875875","media":"StreetInsider","summary":"PALO ALTO, Calif., April 02, 2021  -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Q1 2021 Vehicle Production & Deliveries</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\">\nTesla Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352855480,"gmtCreate":1616935528940,"gmtModify":1634523484216,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"ohni","listText":"ohni","text":"ohni","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/352855480","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","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":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></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>Zhihu Technology fall on its first day of trading</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\">\nZhihu Technology fall on its first day of trading\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\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1},"isVote":1,"tweetType":1,"viewCount":19,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320994213,"gmtCreate":1614997018732,"gmtModify":1703484072683,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>哈哈又上了","listText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>哈哈又上了","text":"$GameStop(GME)$哈哈又上了","images":[{"img":"https://static.tigerbbs.com/9c32505eeca3f7237c4cb324f589b489","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/320994213","isVote":1,"tweetType":1,"viewCount":623,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":103620230,"gmtCreate":1619778944420,"gmtModify":1634210005144,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103620230","repostId":"1198321864","repostType":4,"repost":{"id":"1198321864","kind":"news","pubTimestamp":1619776602,"share":"https://www.laohu8.com/m/news/1198321864?lang=&edition=full","pubTime":"2021-04-30 17:56","market":"us","language":"en","title":"Why Warren Buffett invested in Coca-Cola and its lesson","url":"https://stock-news.laohu8.com/highlight/detail?id=1198321864","media":"Yahoo","summary":"Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing ","content":"<p>Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing some of the best returns, with the stock up over 2,000% since the Oracle of Omaha started buying it 33 years ago. Modern investors looking to navigate the next decade would be well-served to learn how Buffett made this profitable calculation.</p>\n<p>At a recentYahoo Finance Plus webinar, Bill Smead, chief investment officer at Smead Capital Management, began the lesson by explaining how Buffett manages growth and value in the Berkshire portfolio.</p>\n<p>\"To Buffett and [Charlie] Munger, all investing is value investing. They want to buy the bird in the hand, which is worth two in the bush. They want to buy something for well less than they think it's worth. So the ideal thing in investing is based on the mathematics of common stock investing. If you buy a stock for $30 and you pay cash, the worst thing that could possibly happen to you is it goes to zero. But the best thing that could possibly happen to you is exponential,\" says Smead.</p>\n<p>Smead explains how Buffett and Munger differ from legendary value investor Benjamin Graham and why value and growth aren't mutually exclusive. Graham would \"buy 200 cigar butts at half the price that they're worth, and through the market's movements [would] get wealthier doing that,\" says Smead.</p>\n<p>Buffett, on the other hand, wants to \"buy a business that is growing over the decades at a time when other people are scared to death or don't understand why it's going to be such a good thing over the next 20 or 30 years — and then enjoy a double whammy, which is the re-evaluation.\" Smead explains this is \"the price that people are willing to pay for each dollar of earnings growth as well as the earnings number [itself] grows.\"</p>\n<p>Coca-Cola a risky bet</p>\n<p>Berkshire first bought Coke stock from 1988 to 1989,scooping upover 23 million shares. WhenBuffett first started buying in the first quarter, many investors were still skittish from the Black Monday crash in October 1987. Buffett going big on the stock was considered risky, especially because it was not a typical Berkshire investment.</p>\n<p>Buffett defended the position in the 1988 annual Berkshire letter to shareholders with what would become one of hismost famous aphorisms. \"In 1988 we made major purchases of Federal Home Loan Mortgage ... and Coca Cola. We expect to hold these securities for a long time. In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever,\" said Buffett.</p>\n<p>Berkshire more than quadrupled the position to 100 million shares by 1994 and to this day hasn't sold any. After two stock splits, the share count is now 400 million, but Berkshire's cost basis has remained $1.3 billion since 1994. As of year-end 2020, the investment was worth $21.5 billion, a return of 1550%, not including dividends. (Berkshire owns 9.3% of all Coke shares outstanding as of 2020 year-end.)</p>\n<p>But the 1987 crash hangover had faded for Buffett, and the world was changing. The Soviet empire was beginning to crumble, and the Berlin Wall was about to topple — which it finally did in November 1989.</p>\n<p>Smead relates his own experience as a broker in the 1980s to Buffett, saying, \"Buffett [was buying] Coca-Cola in '89 at about 18 times earnings. Well, I started in the investment business in 1980 as a stockbroker at Drexel Burnham Lambert. And my first stock that I was pitching to people was Coca-Cola — $30 a share. It was at six times earnings paying a 5% dividend. When Buffett bought in eight years later, he paid six times what I was trying to pay for it.\"</p>\n<p>Smead explains how investor sentiment changed throughout the 1980s, as memories of the tumultuous 1970s faded and morphed into optimism over abull marketthat would become one of history's longest and most profitable.</p>\n<p>\"I would be destitute and living in a tent in downtown Phoenix or Downtown Seattle if I kept pitching [Coca-Cola] stock because no one would buy it. Virtually, no one wanted it. Common stock ownership in 1981 was 8% of U.S. household assets — off the charts low. No one wanted that company,\" he says.</p>\n<p>Smead explains how the changing political environment would also change the macro picture, providing new opportunities and markets for companies. \"[A] number of countries that used to be closed were going to open their doors. And the Coca-Cola corporation was going to be able to sell their beverages to a huge part of the population that they had never sold it to before. And in emerging markets and less wealthy countries, that 'clean, something to drink' was very valuable.\"</p>\n<p>New investment opportunities post-COVID</p>\n<p>In the present day, the pandemic has thrown the macro picture into upheaval again, presenting investors with a new set of challenges. Smead assesses the demographic changes afoot and sets the stage for what he believes are new, secular investment opportunities.</p>\n<p>\"We looked at the prior time when the 30- to 45-year-old-age group was dramatically larger than the previous group, the ones that preceded them. And that was the baby boomers taking the place of the silent generation in the 70s and 80s ... And we now have 90 million millennials — not too long from now, 95 million — that are going to take 65 million Gen Xers place in the 30- to 45-year-old age bracket. So that just creates a huge amount of demand for necessities,\" he says.</p>\n<p>Smead references research from Fundstrat Global Advisors that ranks the industries it expects millennials to disrupt as their spending eclipses that of boomers. \"At the top of that list is mortgage interest and finance charges. So long before it was in the news, long before it was popular to think about, we have been over-owning the homebuilders, knowing that we have years of building homes to make up the differential between demand for homes, that population will drive the existing homes for sale,\" Smead says.</p>\n<p>Smead expectsstock pickers to outperformpassive investors over the coming decade. He also sees the footwear and household furnishings and equipment industries to outperform based on the same demographic trends relating to homebuilders.</p>\n<p>\"[T]he irony of the pandemic is: It's actually catalyzed one of our most important themes, which is the necessity spending of the millennial age group,\" says Smead.</p>","source":"lsy1584348713084","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>Why Warren Buffett invested in Coca-Cola and its lesson</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\">\nWhy Warren Buffett invested in Coca-Cola and its lesson\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 17:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/why-warren-buffett-invested-in-coca-cola-165914721.html><strong>Yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing some of the best returns, with the stock up over 2,000% since the Oracle of Omaha started buying it ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-warren-buffett-invested-in-coca-cola-165914721.html\">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://finance.yahoo.com/news/why-warren-buffett-invested-in-coca-cola-165914721.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198321864","content_text":"Coca-Cola (KO) is Warren Buffett's oldest stock position at Berkshire Hathaway. It's also providing some of the best returns, with the stock up over 2,000% since the Oracle of Omaha started buying it 33 years ago. Modern investors looking to navigate the next decade would be well-served to learn how Buffett made this profitable calculation.\nAt a recentYahoo Finance Plus webinar, Bill Smead, chief investment officer at Smead Capital Management, began the lesson by explaining how Buffett manages growth and value in the Berkshire portfolio.\n\"To Buffett and [Charlie] Munger, all investing is value investing. They want to buy the bird in the hand, which is worth two in the bush. They want to buy something for well less than they think it's worth. So the ideal thing in investing is based on the mathematics of common stock investing. If you buy a stock for $30 and you pay cash, the worst thing that could possibly happen to you is it goes to zero. But the best thing that could possibly happen to you is exponential,\" says Smead.\nSmead explains how Buffett and Munger differ from legendary value investor Benjamin Graham and why value and growth aren't mutually exclusive. Graham would \"buy 200 cigar butts at half the price that they're worth, and through the market's movements [would] get wealthier doing that,\" says Smead.\nBuffett, on the other hand, wants to \"buy a business that is growing over the decades at a time when other people are scared to death or don't understand why it's going to be such a good thing over the next 20 or 30 years — and then enjoy a double whammy, which is the re-evaluation.\" Smead explains this is \"the price that people are willing to pay for each dollar of earnings growth as well as the earnings number [itself] grows.\"\nCoca-Cola a risky bet\nBerkshire first bought Coke stock from 1988 to 1989,scooping upover 23 million shares. WhenBuffett first started buying in the first quarter, many investors were still skittish from the Black Monday crash in October 1987. Buffett going big on the stock was considered risky, especially because it was not a typical Berkshire investment.\nBuffett defended the position in the 1988 annual Berkshire letter to shareholders with what would become one of hismost famous aphorisms. \"In 1988 we made major purchases of Federal Home Loan Mortgage ... and Coca Cola. We expect to hold these securities for a long time. In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever,\" said Buffett.\nBerkshire more than quadrupled the position to 100 million shares by 1994 and to this day hasn't sold any. After two stock splits, the share count is now 400 million, but Berkshire's cost basis has remained $1.3 billion since 1994. As of year-end 2020, the investment was worth $21.5 billion, a return of 1550%, not including dividends. (Berkshire owns 9.3% of all Coke shares outstanding as of 2020 year-end.)\nBut the 1987 crash hangover had faded for Buffett, and the world was changing. The Soviet empire was beginning to crumble, and the Berlin Wall was about to topple — which it finally did in November 1989.\nSmead relates his own experience as a broker in the 1980s to Buffett, saying, \"Buffett [was buying] Coca-Cola in '89 at about 18 times earnings. Well, I started in the investment business in 1980 as a stockbroker at Drexel Burnham Lambert. And my first stock that I was pitching to people was Coca-Cola — $30 a share. It was at six times earnings paying a 5% dividend. When Buffett bought in eight years later, he paid six times what I was trying to pay for it.\"\nSmead explains how investor sentiment changed throughout the 1980s, as memories of the tumultuous 1970s faded and morphed into optimism over abull marketthat would become one of history's longest and most profitable.\n\"I would be destitute and living in a tent in downtown Phoenix or Downtown Seattle if I kept pitching [Coca-Cola] stock because no one would buy it. Virtually, no one wanted it. Common stock ownership in 1981 was 8% of U.S. household assets — off the charts low. No one wanted that company,\" he says.\nSmead explains how the changing political environment would also change the macro picture, providing new opportunities and markets for companies. \"[A] number of countries that used to be closed were going to open their doors. And the Coca-Cola corporation was going to be able to sell their beverages to a huge part of the population that they had never sold it to before. And in emerging markets and less wealthy countries, that 'clean, something to drink' was very valuable.\"\nNew investment opportunities post-COVID\nIn the present day, the pandemic has thrown the macro picture into upheaval again, presenting investors with a new set of challenges. Smead assesses the demographic changes afoot and sets the stage for what he believes are new, secular investment opportunities.\n\"We looked at the prior time when the 30- to 45-year-old-age group was dramatically larger than the previous group, the ones that preceded them. And that was the baby boomers taking the place of the silent generation in the 70s and 80s ... And we now have 90 million millennials — not too long from now, 95 million — that are going to take 65 million Gen Xers place in the 30- to 45-year-old age bracket. So that just creates a huge amount of demand for necessities,\" he says.\nSmead references research from Fundstrat Global Advisors that ranks the industries it expects millennials to disrupt as their spending eclipses that of boomers. \"At the top of that list is mortgage interest and finance charges. So long before it was in the news, long before it was popular to think about, we have been over-owning the homebuilders, knowing that we have years of building homes to make up the differential between demand for homes, that population will drive the existing homes for sale,\" Smead says.\nSmead expectsstock pickers to outperformpassive investors over the coming decade. He also sees the footwear and household furnishings and equipment industries to outperform based on the same demographic trends relating to homebuilders.\n\"[T]he irony of the pandemic is: It's actually catalyzed one of our most important themes, which is the necessity spending of the millennial age group,\" says Smead.","news_type":1},"isVote":1,"tweetType":1,"viewCount":45,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343686846,"gmtCreate":1617713299885,"gmtModify":1634296982977,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BB\">$BlackBerry(BB)$</a>Let's go","listText":"<a href=\"https://laohu8.com/S/BB\">$BlackBerry(BB)$</a>Let's go","text":"$BlackBerry(BB)$Let's go","images":[{"img":"https://static.tigerbbs.com/a5d3a4314300956f4d0dd7f78fb25dfe","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/343686846","isVote":1,"tweetType":1,"viewCount":63,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":322865235,"gmtCreate":1615796305627,"gmtModify":1703493053461,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>moon","listText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>moon","text":"$GameStop(GME)$moon","images":[{"img":"https://static.tigerbbs.com/70aa46776e7661afbe35a446c3fe9746","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322865235","isVote":1,"tweetType":1,"viewCount":31,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":329865912,"gmtCreate":1615221642036,"gmtModify":1703485970393,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>大家推出一点再买回","listText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>大家推出一点再买回","text":"$GameStop(GME)$大家推出一点再买回","images":[{"img":"https://static.tigerbbs.com/1ceee1a96d047b310ae024a85e3322c8","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/329865912","isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":367816725,"gmtCreate":1614935040067,"gmtModify":1703483124521,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"Good move unlike the US banks.","listText":"Good move unlike the US banks.","text":"Good move unlike the US banks.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/367816725","repostId":"2117368489","repostType":4,"repost":{"id":"2117368489","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":1614933329,"share":"https://www.laohu8.com/m/news/2117368489?lang=&edition=full","pubTime":"2021-03-05 16:35","market":"us","language":"en","title":"China tells banks to scale back lending to contain financial bubble risks - sources","url":"https://stock-news.laohu8.com/highlight/detail?id=2117368489","media":"Reuters","summary":"SHANGHAI/BEIJING, March 5 (Reuters) - China's regulators are telling banks to trim their loan books ","content":"<p>SHANGHAI/BEIJING, March 5 (Reuters) - China's regulators are telling banks to trim their loan books this year to guard against risks emerging from bubbles in domestic financial markets, said people familiar with the matter on Friday.</p><p>The banks, including foreign and state-owned lenders, have received guidance from the central bank in the past few days telling them to restrict the overall size of their lending this year, said three bankers on condition of anonymity.</p><p>The China Banking and Insurance Regulatory Commission (CBIRC) is also \"seriously\" looking into the misuse of business loans to individual borrowers for personal investments, two of them said, which violates Chinese regulations.</p><p>\"A large amount of money in the name of business loans had flown into the property and stock markets during the pandemic last year,\" said <a href=\"https://laohu8.com/S/AONE\">one</a> of the bankers.</p><p>\"Banks are scrambling to collect back loans issued last year and will not extend such loans.\"</p><p>The CBIRC and the People's Bank of China, China's central bank, did not immediately respond to requests for comment.</p><p>China significantly boosted credit support to the economy in 2020 as the COVID-19 pandemic hit, but some individuals spent the money buying properties and stocks, fanning bubbles in the markets, the sources said.</p><p>Business loans are required to be used on operational costs such as rents and equipment purchases. The banking watchdog bans borrowers from using such loans on stocks and property purchases.</p><p>Lending to micro and small businesses by big commercial banks increased 50% last year and is aimed to expand 30% further this year, according to the government report released on Friday. China also asked banks to boost lending and lower interest rates to small businesses in 2020.</p><p>Guo Shuqing, head of CBIRC, said on Tuesday that he was \"very worried\" about risks of bubbles bursting in foreign markets and highlighted bubble risks as a core issue facing China's property sector.</p><p>China's blue-chip index CSI300 has so far lost more than 1% in March.</p><p>(Reporting by Winni Zhou and Zhang Yan in Shanghai, and Rong Ma and Ryan Woo in Beijing; Editing by Ana Nicolaci da Costa)</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 tells banks to scale back lending to contain financial bubble risks - sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina tells banks to scale back lending to contain financial bubble risks - sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-03-05 16:35</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>SHANGHAI/BEIJING, March 5 (Reuters) - China's regulators are telling banks to trim their loan books this year to guard against risks emerging from bubbles in domestic financial markets, said people familiar with the matter on Friday.</p><p>The banks, including foreign and state-owned lenders, have received guidance from the central bank in the past few days telling them to restrict the overall size of their lending this year, said three bankers on condition of anonymity.</p><p>The China Banking and Insurance Regulatory Commission (CBIRC) is also \"seriously\" looking into the misuse of business loans to individual borrowers for personal investments, two of them said, which violates Chinese regulations.</p><p>\"A large amount of money in the name of business loans had flown into the property and stock markets during the pandemic last year,\" said <a href=\"https://laohu8.com/S/AONE\">one</a> of the bankers.</p><p>\"Banks are scrambling to collect back loans issued last year and will not extend such loans.\"</p><p>The CBIRC and the People's Bank of China, China's central bank, did not immediately respond to requests for comment.</p><p>China significantly boosted credit support to the economy in 2020 as the COVID-19 pandemic hit, but some individuals spent the money buying properties and stocks, fanning bubbles in the markets, the sources said.</p><p>Business loans are required to be used on operational costs such as rents and equipment purchases. The banking watchdog bans borrowers from using such loans on stocks and property purchases.</p><p>Lending to micro and small businesses by big commercial banks increased 50% last year and is aimed to expand 30% further this year, according to the government report released on Friday. China also asked banks to boost lending and lower interest rates to small businesses in 2020.</p><p>Guo Shuqing, head of CBIRC, said on Tuesday that he was \"very worried\" about risks of bubbles bursting in foreign markets and highlighted bubble risks as a core issue facing China's property sector.</p><p>China's blue-chip index CSI300 has so far lost more than 1% in March.</p><p>(Reporting by Winni Zhou and Zhang Yan in Shanghai, and Rong Ma and Ryan Woo in Beijing; Editing by Ana Nicolaci da Costa)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2117368489","content_text":"SHANGHAI/BEIJING, March 5 (Reuters) - China's regulators are telling banks to trim their loan books this year to guard against risks emerging from bubbles in domestic financial markets, said people familiar with the matter on Friday.The banks, including foreign and state-owned lenders, have received guidance from the central bank in the past few days telling them to restrict the overall size of their lending this year, said three bankers on condition of anonymity.The China Banking and Insurance Regulatory Commission (CBIRC) is also \"seriously\" looking into the misuse of business loans to individual borrowers for personal investments, two of them said, which violates Chinese regulations.\"A large amount of money in the name of business loans had flown into the property and stock markets during the pandemic last year,\" said one of the bankers.\"Banks are scrambling to collect back loans issued last year and will not extend such loans.\"The CBIRC and the People's Bank of China, China's central bank, did not immediately respond to requests for comment.China significantly boosted credit support to the economy in 2020 as the COVID-19 pandemic hit, but some individuals spent the money buying properties and stocks, fanning bubbles in the markets, the sources said.Business loans are required to be used on operational costs such as rents and equipment purchases. The banking watchdog bans borrowers from using such loans on stocks and property purchases.Lending to micro and small businesses by big commercial banks increased 50% last year and is aimed to expand 30% further this year, according to the government report released on Friday. China also asked banks to boost lending and lower interest rates to small businesses in 2020.Guo Shuqing, head of CBIRC, said on Tuesday that he was \"very worried\" about risks of bubbles bursting in foreign markets and highlighted bubble risks as a core issue facing China's property sector.China's blue-chip index CSI300 has so far lost more than 1% in March.(Reporting by Winni Zhou and Zhang Yan in Shanghai, and Rong Ma and Ryan Woo in Beijing; Editing by Ana Nicolaci da Costa)","news_type":1},"isVote":1,"tweetType":1,"viewCount":26,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368516079,"gmtCreate":1614337385891,"gmtModify":1703476554913,"author":{"id":"3575023630818985","authorId":"3575023630818985","name":"KaedeNyu","avatar":"https://static.tigerbbs.com/f5a3380d6cf7ff299cbbd1e794c1c8cc","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575023630818985","authorIdStr":"3575023630818985"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>再接再厉哦！","listText":"<a href=\"https://laohu8.com/S/GME\">$GameStop(GME)$</a>再接再厉哦！","text":"$GameStop(GME)$再接再厉哦！","images":[{"img":"https://static.tigerbbs.com/3d750693a228aeabc6e234310b051ac4","width":"1440","height":"2560"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368516079","isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"lives":[]}