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2021-02-19

things need to change

Robinhood, Citadel fight conspiracies ahead of GameStop grilling

2021-02-19

😮

Robinhood, Citadel fight conspiracies ahead of GameStop grilling

2021-03-10

[开心]

Is Now The Time To Buy Stock In Xpeng, Palantir, GE Or GameStop?

2021-02-17

nice

What signals the top of a bull market in stocks? Not rising interest rates

2021-02-23

Nervous

The market is getting nervous about Powell’s testimony this week

2021-02-20

yes

Goldman Sachs is joining the robo-investing party — should you?

2021-02-17

good

Is This Oil Rally The Start Of Something Much Bigger?

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21:39","market":"us","language":"en","title":"The market is getting nervous about Powell’s testimony this week","url":"https://stock-news.laohu8.com/highlight/detail?id=1198320495","media":"cnbc","summary":"Federal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will be viewed closely this week for how he views this year’s run-up in bond yields.Investors worry that too quick of a rise might force the Fed to tighten policy too quickly, while a complacent Fed also would pose overheating risks.Rising bond yields and accompanying inflation fears are adding a level of drama to","content":"<div>\n<p>KEY POINTSFederal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The market is getting nervous about Powell’s testimony this week</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe market is getting nervous about Powell’s testimony this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 21:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSFederal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1198320495","content_text":"KEY POINTSFederal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will be viewed closely this week for how he views this year’s run-up in bond yields.Investors worry that too quick of a rise might force the Fed to tighten policy too quickly, while a complacent Fed also would pose overheating risks.Rising bond yields and accompanying inflation fears are adding a level of drama to Federal Reserve Chairman Jerome Powell’s appearance this week before Congress.The central bank chair is slated to address Senate and House panels on successive days as part of mandated semiannual updates on monetary policy.Normally routine affairs, recent financial market tumult and concerns about how the Fed may react have investors paying a bit more close attention than usual to the hearings scheduled for Tuesday and Wednesday.“This is one of the more interesting episodes in which a Fed chair has had to testify,” said Nathan Sheets, chief economist at PGIM Fixed Income. “Sometimes we say, ‘ho hum, no news.’ This is going to be news. He’s really caught between a rock and a hard place.”What’s got the market’s attention recently has been a pickup in government bond yields, particularly further out on the curve.While the 2-year is unchanged for 2021, the 5-year has risen nearly a quarter percentage point as of Friday’s market close while the benchmark 10-year note has seen its yield jump 41 basis points to 1.34%, an area where it hasn’t been since around the same time in 2020, before the worst of the pandemic struck.The 30-year bond yield has surged even more, leaping nearly half a point this year to 2.14%.Powell’s dilemma is this: Rising bond yields could be signaling the reflation of the economy that the Fed has been pushing and are therefore higher for good reasons. However, should the trend get out of control, the Fed then might have to tighten policy faster than the market expects, offsetting some of the good that has come with the burst in yields.Complicating the matter is that markets also might not like it if Powell is overly complacent.“If this testimony was behind closed doors, I think Jay Powell would be quite pleased with what he sees in the economy and the markets,” Sheets said, using the Fed chair’s nickname. “But given that it’s public, he’s got to be careful. If he’s too sanguine about the rise in rates, the markets are going to take that as a significant green light for rates to rip higher.”“The Fed is comfortable with an organic rise in rates reflecting shifts in views on growth and inflation,” he added. “But I think the Fed also wants to be careful that it doesn’t create and amplify a self-sustaining dynamic that pushes rates higher for other reasons.”Those “other reasons” primarily would be fears that the economy could overheat.Stimulus and more stimulusThe Fed has run historically loose policy for the past year, dropping its benchmark borrowing rate to near zero and buying at least $120 billion of bonds each month. That’s on top of a series of since-expired lending and liquidity programs implemented in the early days of the Covid-19 crisis.Along with that, Congress has come in with more than $3 trillion of fiscal stimulus and could approve up to $1.9 trillion more by the end of week.All that has transpired amid an economy that, besides a still-troubling employment problem primarily in the service sector, is humming. Wall Street is taking up first-quarter growth expectations and market-based indicators of inflation are rising.That’s why Powell’s tightrope walk this week will be all the more compelling.“The market mood has changed,”Mohamed El-Erian, chief economic advisor at Allianz, said Monday on CNBC’s “Squawk Box.” It’s no longer whether yields are going higher, it’s when is the move too big. That’s what the market’s trying to figure out.”Investors are particularly concerned whether all the stimulus isn’t going overboard and threatening to destabilize the economy over the longer run.“I can predict that the yellow lights are flashing all over the Fed because of the [yields] move and the steepening of the yield curve, and the Fed may do more to try to control yields,” El-Erian said.Fed officials have largely dismissed so-called yield curve control to use its bond purchasing power to control rates between various fixed income maturities.But the market could force the Fed’s hand, and Powell is likely to get asked about where he stands on what tools the Fed has to calm market issues. He has repeatedly stressed that the central bank has the weapons to control inflation, but deploying those comes with a price. Markets used to low yields and companies accustomed to cheap borrowing costs could get rattled by an unexpected Fed move.Evidence of how clearly the market is watching the issue came Monday morning, when European Central Bank President Christine Lagarde said she is “closely monitoring the evolution of longer-term nominal bond yields.” Her words were enough to calm a jittery market and turn what had been an opening loss on Wall Street into a mixed market with the Dow up in early afternoon trading. Treasury yields were mostly flat on the day.Tom Lee, managing partner and head of research at Fundstrat Global Advisors, noted that his “clients have already expressed some apprehension about this week. Part of this reflects the fact that bond yields have been steadily rising and equity investors are nervous that the bond market might reach some sort of ‘breaking point’” during Powell’s testimony.Powell speaks Tuesday before the Senate Finance Committee then Wednesday to the House Financial Services Committee.","news_type":1},"isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387554062,"gmtCreate":1613759219956,"gmtModify":1634552321798,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387554062","repostId":"1161529893","repostType":4,"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387906141,"gmtCreate":1613705403983,"gmtModify":1634552572943,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"things need to change&nbsp;","listText":"things need to change&nbsp;","text":"things need to change","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/387906141","repostId":"1185112339","repostType":4,"repost":{"id":"1185112339","pubTimestamp":1613703936,"share":"https://www.laohu8.com/m/news/1185112339?lang=&edition=full","pubTime":"2021-02-19 11:05","market":"us","language":"en","title":"Robinhood, Citadel fight conspiracies ahead of GameStop grilling","url":"https://stock-news.laohu8.com/highlight/detail?id=1185112339","media":"Bloomberg","summary":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted market","content":"<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.</p>\n<p>Robinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".</p>\n<p>Robinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.</p>\n<p>Ken Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.</p>\n<p>\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.</p>\n<p>Digging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.</p>\n<p>Citadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.</p>\n<p>Thursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.</p>\n<p>Chairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.</p>\n<p>Gabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.</p>\n<p>\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"</p>\n<p>'DIFFICULT TIME'</p>\n<p>Mr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.</p>\n<p>Even though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.</p>\n<p>Melvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.</p>\n<p>Keith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.</p>\n<p>Mr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.</p>\n<p>\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"</p>\n<p>Jennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.</p>\n<p>In his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.</p>\n<p>Because the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.</p>\n<p>Around 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.</p>\n<p>To help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.</p>\n<p>Mr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robinhood, Citadel fight conspiracies ahead of GameStop grilling</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\">\nRobinhood, Citadel fight conspiracies ahead of GameStop grilling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185112339","content_text":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.\nRobinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".\nRobinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.\nKen Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.\n\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.\nDigging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.\nCitadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.\nThursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.\nChairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.\nGabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.\n\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"\n'DIFFICULT TIME'\nMr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.\nEven though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.\nMelvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.\nKeith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.\nMr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.\n\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"\nJennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.\nIn his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.\nBecause the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.\nAround 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.\nTo help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.\nMr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":72,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387906078,"gmtCreate":1613705347894,"gmtModify":1634552573065,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"😮","listText":"😮","text":"😮","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/387906078","repostId":"1185112339","repostType":4,"repost":{"id":"1185112339","pubTimestamp":1613703936,"share":"https://www.laohu8.com/m/news/1185112339?lang=&edition=full","pubTime":"2021-02-19 11:05","market":"us","language":"en","title":"Robinhood, Citadel fight conspiracies ahead of GameStop grilling","url":"https://stock-news.laohu8.com/highlight/detail?id=1185112339","media":"Bloomberg","summary":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted market","content":"<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.</p>\n<p>Robinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".</p>\n<p>Robinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.</p>\n<p>Ken Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.</p>\n<p>\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.</p>\n<p>Digging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.</p>\n<p>Citadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.</p>\n<p>Thursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.</p>\n<p>Chairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.</p>\n<p>Gabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.</p>\n<p>\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"</p>\n<p>'DIFFICULT TIME'</p>\n<p>Mr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.</p>\n<p>Even though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.</p>\n<p>Melvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.</p>\n<p>Keith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.</p>\n<p>Mr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.</p>\n<p>\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"</p>\n<p>Jennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.</p>\n<p>In his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.</p>\n<p>Because the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.</p>\n<p>Around 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.</p>\n<p>To help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.</p>\n<p>Mr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robinhood, Citadel fight conspiracies ahead of GameStop grilling</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\">\nRobinhood, Citadel fight conspiracies ahead of GameStop grilling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185112339","content_text":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.\nRobinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".\nRobinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.\nKen Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.\n\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.\nDigging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.\nCitadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.\nThursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.\nChairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.\nGabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.\n\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"\n'DIFFICULT TIME'\nMr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.\nEven though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.\nMelvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.\nKeith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.\nMr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.\n\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"\nJennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.\nIn his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.\nBecause the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.\nAround 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.\nTo help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.\nMr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385628837,"gmtCreate":1613545947229,"gmtModify":1634553216677,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385628837","repostId":"1146053060","repostType":4,"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385621449,"gmtCreate":1613545875081,"gmtModify":1634553216800,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385621449","repostId":"1184726502","repostType":4,"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":387906141,"gmtCreate":1613705403983,"gmtModify":1634552572943,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"things need to change&nbsp;","listText":"things need to change&nbsp;","text":"things need to change","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/387906141","repostId":"1185112339","repostType":4,"repost":{"id":"1185112339","pubTimestamp":1613703936,"share":"https://www.laohu8.com/m/news/1185112339?lang=&edition=full","pubTime":"2021-02-19 11:05","market":"us","language":"en","title":"Robinhood, Citadel fight conspiracies ahead of GameStop grilling","url":"https://stock-news.laohu8.com/highlight/detail?id=1185112339","media":"Bloomberg","summary":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted market","content":"<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.</p>\n<p>Robinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".</p>\n<p>Robinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.</p>\n<p>Ken Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.</p>\n<p>\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.</p>\n<p>Digging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.</p>\n<p>Citadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.</p>\n<p>Thursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.</p>\n<p>Chairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.</p>\n<p>Gabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.</p>\n<p>\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"</p>\n<p>'DIFFICULT TIME'</p>\n<p>Mr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.</p>\n<p>Even though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.</p>\n<p>Melvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.</p>\n<p>Keith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.</p>\n<p>Mr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.</p>\n<p>\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"</p>\n<p>Jennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.</p>\n<p>In his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.</p>\n<p>Because the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.</p>\n<p>Around 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.</p>\n<p>To help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.</p>\n<p>Mr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robinhood, Citadel fight conspiracies ahead of GameStop grilling</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\">\nRobinhood, Citadel fight conspiracies ahead of GameStop grilling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185112339","content_text":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.\nRobinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".\nRobinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.\nKen Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.\n\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.\nDigging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.\nCitadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.\nThursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.\nChairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.\nGabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.\n\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"\n'DIFFICULT TIME'\nMr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.\nEven though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.\nMelvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.\nKeith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.\nMr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.\n\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"\nJennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.\nIn his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.\nBecause the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.\nAround 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.\nTo help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.\nMr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":72,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387906078,"gmtCreate":1613705347894,"gmtModify":1634552573065,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"😮","listText":"😮","text":"😮","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/387906078","repostId":"1185112339","repostType":4,"repost":{"id":"1185112339","pubTimestamp":1613703936,"share":"https://www.laohu8.com/m/news/1185112339?lang=&edition=full","pubTime":"2021-02-19 11:05","market":"us","language":"en","title":"Robinhood, Citadel fight conspiracies ahead of GameStop grilling","url":"https://stock-news.laohu8.com/highlight/detail?id=1185112339","media":"Bloomberg","summary":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted market","content":"<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.</p>\n<p>Robinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".</p>\n<p>Robinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.</p>\n<p>Ken Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.</p>\n<p>\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.</p>\n<p>Digging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.</p>\n<p>Citadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.</p>\n<p>Thursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.</p>\n<p>Chairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.</p>\n<p>Gabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.</p>\n<p>\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"</p>\n<p>'DIFFICULT TIME'</p>\n<p>Mr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.</p>\n<p>Even though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.</p>\n<p>Melvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.</p>\n<p>Keith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.</p>\n<p>Mr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.</p>\n<p>\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"</p>\n<p>Jennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.</p>\n<p>In his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.</p>\n<p>Because the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.</p>\n<p>Around 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.</p>\n<p>To help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.</p>\n<p>Mr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Robinhood, Citadel fight conspiracies ahead of GameStop grilling</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRobinhood, Citadel fight conspiracies ahead of GameStop grilling\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 11:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.businesstimes.com.sg/banking-finance/robinhood-citadel-fight-conspiracies-ahead-of-gamestop-grilling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185112339","content_text":"[WASHINGTON] Robinhood Markets and Citadel, central players in the GameStop saga that riveted markets last month, plan to deliver a unified message to US lawmakers Thursday: conspiracies swirling in Washington that they worked together to harm retail investors are categorically false.\nRobinhood chief executive officer Vlad Tenev, whose firm has faced a barrage of questions into whether hedge funds such as Citadel ordered it to prevent customers from adding to their GameStop bets, called such claims \"market-distorting rhetoric\".\nRobinhood halted trades due to demands from its clearinghouse that it post more capital to deal with increased risk, he said in written testimony for a hearing before the House Financial Services Committee.\nKen Griffin, Citadel's billionaire founder, said in his prepared remarks that he learned Robinhood had barred GameStop buy orders after the restrictions were publicly announced.\n\"I want to be perfectly clear: we had no role in Robinhood's decision to limit trading in GameStop or any other of the 'meme' stocks,\" said Mr Griffin, whose financial empire includes a hedge fund and massive market-maker Citadel Securities.\nDigging into the relationship between Robinhood and Citadel has been a focal point for lawmakers since small-time investors revolted in January after Robinhood temporarily blocked their push to drive GameStop and other stocks to the stratosphere.\nCitadel Securities pays Robinhood for the right to execute its customers' orders, and a theory that gained traction on social media is that Mr Griffin's market-maker leaned on Mr Tenev's brokerage to benefit Citadel's hedge fund - an assertion both firms have repeatedly rejected.\nThursday's hearing, still expected to be full of drama and tense moments even though its virtual, will offer members of Congress their first chance to grill the executives on frenzied trading that triggered alarm bells from Wall Street to Capitol Hill.\nChairwoman Maxine Waters, a California Democrat, has said she wants to scrutinise all the players involved to assess whether Washington needs to curtail the influence of hedge funds and strengthen guardrails for retail investors.\nGabe Plotkin, a hedge fund manager whose firm took heavy losses during last month's Reddit-fuelled trading, plans to tell Congress that he was \"humbled\" by the experience.\n\"Melvin Capital played absolutely no role\" in the decisions of trading platforms to limit the buying and selling of GameStop shares, according to Mr Plotkin's written testimony. \"In fact, Melvin closed out all of its positions in GameStop days before platforms put those limitations in place.\"\n'DIFFICULT TIME'\nMr Plotkin used his testimony to clarify that Melvin Capital wasn't \"bailed out\" by the US$2.75 billion it received from Citadel, Point72 Asset Management and others last month.\nEven though the firm was going through a \"difficult time\", it always had adequate funding and wasn't seeking a cash injection. Citadel proactively reached out to become an investor, seeing it as an opportunity to \"buy low\", Mr Plotkin said in his remarks.\nMelvin Capital lost billions closing out its GameStop position and reducing other wagers. The firm's assets fell to about US$8 billion in January after starting the year with US$12.5 billion.\nKeith Gill, a Reddit user known as \"Roaring Kitty\" who is credited with inspiring GameStop's rally, will testify that he was merely an individual investor using public information to study companies.\nMr Gill, one of the most influential participants pushing GameStop on the WallStreetBets Reddit forum, was sued this week in Massachusetts for misrepresenting himself as an amateur investor and profiting by artificially inflating the price of the stock.\n\"I did not solicit anyone to buy or sell the stock for my own profit,\" Mr Gill said in his testimony. \"I did not belong to any groups trying to create movements in the stock price. I never had a financial relationship with any hedge fund. I had no information about GameStop except what was public. I did not know any people inside the company, and I never spoke to any insider.\"\nJennifer Schulp, director of financial regulation studies at Cato Institute and a late addition to the hearing's lineup of speakers, will testify that rule changes may not be warranted in light of the minimal impact on markets. \"By no means, though, should the GameStop phenomenon result in changes that restrict retail investors' access to the markets,\" she said.\nIn his testimony, Mr Tenev described the morning of Jan 28, when the brokerage halted purchases of GameStop and other \"meme stocks\". At 5.11am, the industry's clearinghouse - a body that manages system-wide risk - demanded a deposit of more than US$1 billion from Robinhood, he said.\nBecause the sum demanded was even larger than the amount of net capital the online brokerage had on hand, an additional charge of US$2.2 billion was slapped on top, bringing the total amount due to about US$3 billion. Robinhood complied with its net capital requirements at all times during this period, the company says.\nAround 7.30am, in a scramble to meet the requirements, Robinhood decided to stop customers from buying GameStop and other volatile stocks. The clearinghouse then agreed to waive the entire US$2.2 billion charge it had initially added, according to Mr Tenev's account. With an additional US$737 million deposit that morning, combined with the amount Robinhood had already posted at the clearinghouse, the broker met its requirements for that day.\nTo help prevent last month's events from happening again, Robinhood has called on regulators to make the settlement period for stock trades instantaneous. Citadel's Mr Griffin also called for a shorter settlement time.\nMr Griffin said the current two-day requirement \"exposes firms to more risk in the time between execution and settlement, requiring higher capital levels\". He also advised that clearinghouse capital requirements be made more transparent.","news_type":1},"isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323174060,"gmtCreate":1615323577250,"gmtModify":1703487315157,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"[开心]&nbsp;","listText":"[开心]&nbsp;","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/323174060","repostId":"1137016104","repostType":4,"repost":{"id":"1137016104","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1615304114,"share":"https://www.laohu8.com/m/news/1137016104?lang=&edition=full","pubTime":"2021-03-09 23:35","market":"us","language":"en","title":"Is Now The Time To Buy Stock In Xpeng, Palantir, GE Or GameStop?","url":"https://stock-news.laohu8.com/highlight/detail?id=1137016104","media":"Benzinga","summary":"One of the most common questions traders have about stocks is “Why Is It Moving?”\nThat’s why Benzing","content":"<p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p>\n<p>That’s why Benzinga created the Why Is It Moving, or WIIM, feature inBenzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.</p>\n<p>Here’s the latest news and updates for Xpeng, Palantir, GE and GameStop Monday morning.</p>\n<p>Daiwa Capital analyst Kelvin Lau&nbsp;upgraded&nbsp;<b>Xpeng Inc </b>from Sell to Buy and announced&nbsp;a $34 price target.</p>\n<p><b>Palantir Technologies Inc</b>&nbsp;will hold the first in a series of \"Double Click\" demo events at 11 a.m. on&nbsp;Wednesday, April 14, according to a Tuesday&nbsp;press release.</p>\n<p>Double Click is a series of software demo events from the big data analytics company that showcase how the company's platforms are used across industries.</p>\n<p>Following news of a&nbsp;potential merger&nbsp;with&nbsp;<b>AerCap Holdings N.V.</b>, BofA Securities analyst Andrew Obin reiterated a&nbsp;Buy rating on<b>General Electric Company</b>&nbsp;and raised the price target from $14 to $15.</p>\n<p>The company will&nbsp;host its 2021 GE Investor Outlook&nbsp;event&nbsp;Wednesday. Interested traders and investors can sign up for the stream&nbsp;here.</p>\n<p>GE passed its 52-week high of $14.35 during Tuesday's premarket&nbsp;session.</p>\n<p>Shares of&nbsp;<b>GameStop Corp.</b>&nbsp;were trading higherfor the fifth consecutive trading day Monday after the company said its board has constituted a strategic planning and capital allocation committee to zero in on initiatives to aid its business transformation.</p>\n<p></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>Is Now The Time To Buy Stock In Xpeng, Palantir, GE Or GameStop?</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\">\nIs Now The Time To Buy Stock In Xpeng, Palantir, GE Or GameStop?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-03-09 23:35</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p>\n<p>That’s why Benzinga created the Why Is It Moving, or WIIM, feature inBenzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.</p>\n<p>Here’s the latest news and updates for Xpeng, Palantir, GE and GameStop Monday morning.</p>\n<p>Daiwa Capital analyst Kelvin Lau&nbsp;upgraded&nbsp;<b>Xpeng Inc </b>from Sell to Buy and announced&nbsp;a $34 price target.</p>\n<p><b>Palantir Technologies Inc</b>&nbsp;will hold the first in a series of \"Double Click\" demo events at 11 a.m. on&nbsp;Wednesday, April 14, according to a Tuesday&nbsp;press release.</p>\n<p>Double Click is a series of software demo events from the big data analytics company that showcase how the company's platforms are used across industries.</p>\n<p>Following news of a&nbsp;potential merger&nbsp;with&nbsp;<b>AerCap Holdings N.V.</b>, BofA Securities analyst Andrew Obin reiterated a&nbsp;Buy rating on<b>General Electric Company</b>&nbsp;and raised the price target from $14 to $15.</p>\n<p>The company will&nbsp;host its 2021 GE Investor Outlook&nbsp;event&nbsp;Wednesday. Interested traders and investors can sign up for the stream&nbsp;here.</p>\n<p>GE passed its 52-week high of $14.35 during Tuesday's premarket&nbsp;session.</p>\n<p>Shares of&nbsp;<b>GameStop Corp.</b>&nbsp;were trading higherfor the fifth consecutive trading day Monday after the company said its board has constituted a strategic planning and capital allocation committee to zero in on initiatives to aid its business transformation.</p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","PLTR":"Palantir Technologies Inc.","GE":"GE航空航天","XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137016104","content_text":"One of the most common questions traders have about stocks is “Why Is It Moving?”\nThat’s why Benzinga created the Why Is It Moving, or WIIM, feature inBenzinga Pro. WIIMs are a one-sentence description as to why that stock is moving.\nHere’s the latest news and updates for Xpeng, Palantir, GE and GameStop Monday morning.\nDaiwa Capital analyst Kelvin Lau upgraded Xpeng Inc from Sell to Buy and announced a $34 price target.\nPalantir Technologies Inc will hold the first in a series of \"Double Click\" demo events at 11 a.m. on Wednesday, April 14, according to a Tuesday press release.\nDouble Click is a series of software demo events from the big data analytics company that showcase how the company's platforms are used across industries.\nFollowing news of a potential merger with AerCap Holdings N.V., BofA Securities analyst Andrew Obin reiterated a Buy rating onGeneral Electric Company and raised the price target from $14 to $15.\nThe company will host its 2021 GE Investor Outlook event Wednesday. Interested traders and investors can sign up for the stream here.\nGE passed its 52-week high of $14.35 during Tuesday's premarket session.\nShares of GameStop Corp. were trading higherfor the fifth consecutive trading day Monday after the company said its board has constituted a strategic planning and capital allocation committee to zero in on initiatives to aid its business transformation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":385621449,"gmtCreate":1613545875081,"gmtModify":1634553216800,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385621449","repostId":"1184726502","repostType":4,"repost":{"id":"1184726502","pubTimestamp":1613542262,"share":"https://www.laohu8.com/m/news/1184726502?lang=&edition=full","pubTime":"2021-02-17 14:11","market":"us","language":"en","title":"What signals the top of a bull market in stocks? Not rising interest rates","url":"https://stock-news.laohu8.com/highlight/detail?id=1184726502","media":"MarketWatch","summary":"Treasury yields have risen sharply so far this year\nCHAPEL HILL, N.C. — Rising interest rates will n","content":"<p>Treasury yields have risen sharply so far this year</p>\n<p>CHAPEL HILL, N.C. — Rising interest rates will not be what sabotage this bull market.</p>\n<p>That’s crucial information, since interest rates have risen significantly over the last six months, and especially over the last couple of weeks. The 10-year Treasury yield&nbsp;has more than doubled from where it stood last August, for example, from 0.52% to its current 1.20%. A big chunk of that increase—27 basis points—have come just since the beginning of the year.</p>\n<p>I am revisiting this topic since many readers apparently weren’t convinced by my&nbsp;column earlier this month that there is no historical correlation between interest rates and stock-market returns.As some of you pointed out, that column focused on summary patterns that emerge when analyzing all data back to the 1920s. That is different than focusing on interest-rate trends at bull-market tops in particular. That’s what I am focusing on in this column.</p>\n<p>Since 1962, which is how far back my database for the 10-year Treasury yield extends, there have been 17 bear markets, according to the calendar maintained by Ned Davis Research. In 10 of those 17 cases, the 10-year Treasury yield when those bear market began was actually<i>lower</i>than where it had stood three months prior. In other words, in more than half of the bear markets the 10-year yield had fallen over the last three months of the preceding bull markets.</p>\n<p>You shouldn’t conclude from this result that a bear market can’t happen unless interest rates are declining, however. Notice that in seven of these 17 bear markets, interest rates rose over the three months preceding the beginnings of those bear markets. The appropriate conclusion to draw is that interest-rate trends are an unreliable guide to when bull markets will come to an end.</p>\n<p><b>What about the Fed Funds rate?</b></p>\n<p>This conclusion runs so counter to what we’re been repeatedly told over the years that I wanted to double-check it by focusing on the Federal Funds rate. This is the short-term rate that is directly set by the Federal Reserve’s Open Market Committee, and some analysts over the years have believed that it is the interest rate to which stock market investors should pay closest attention. According to Edson Gould’s famous “three steps and a stumble rule,” for example, the stock market will decline (“stumble”) after three consecutive interest rate hikes (“three steps”) from the Federal Reserve.</p>\n<p>Gould, of course, was one of the most famous technical analysts of the 1960s and 1970s. Nevertheless, however much validity his rule may have had in prior decades, it hasn’t worked since the early 1980s. That’s when the Federal Reserve shifted its policy-setting stance to targeting the Fed Funds rate; before hat it focused on M1 money supply. At the top of seven of the nine bull markets since then, the most recent change in the Fed Funds rate was a cut—not an increase.</p>\n<p>I have no idea whether the current bull market is close to an end. But I would note that the most recent move in the Federal Funds rate was last March, when the Fed cut it by a full percentage point.</p>\n<p>The bottom line? Don’t look to interest rate trends for when the bull market will come to an end.</p>\n<p>This doesn’t mean that happy days are here again, let me hasten to add. Just because rising interest rates are not the concern that many think them to be doesn’t mean there aren’t plenty of other worries. There most definitely are,with overvaluation at the top of the list.</p>","source":"market_watch","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> What signals the top of a bull market in stocks? Not rising interest rates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n What signals the top of a bull market in stocks? Not rising interest rates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-17 14:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/what-signals-the-top-of-a-bull-market-in-stocks-not-rising-interest-rates-11613490352?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Treasury yields have risen sharply so far this year\nCHAPEL HILL, N.C. — Rising interest rates will not be what sabotage this bull market.\nThat’s crucial information, since interest rates have risen ...</p>\n\n<a href=\"https://www.marketwatch.com/story/what-signals-the-top-of-a-bull-market-in-stocks-not-rising-interest-rates-11613490352?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/what-signals-the-top-of-a-bull-market-in-stocks-not-rising-interest-rates-11613490352?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1184726502","content_text":"Treasury yields have risen sharply so far this year\nCHAPEL HILL, N.C. — Rising interest rates will not be what sabotage this bull market.\nThat’s crucial information, since interest rates have risen significantly over the last six months, and especially over the last couple of weeks. The 10-year Treasury yield has more than doubled from where it stood last August, for example, from 0.52% to its current 1.20%. A big chunk of that increase—27 basis points—have come just since the beginning of the year.\nI am revisiting this topic since many readers apparently weren’t convinced by my column earlier this month that there is no historical correlation between interest rates and stock-market returns.As some of you pointed out, that column focused on summary patterns that emerge when analyzing all data back to the 1920s. That is different than focusing on interest-rate trends at bull-market tops in particular. That’s what I am focusing on in this column.\nSince 1962, which is how far back my database for the 10-year Treasury yield extends, there have been 17 bear markets, according to the calendar maintained by Ned Davis Research. In 10 of those 17 cases, the 10-year Treasury yield when those bear market began was actuallylowerthan where it had stood three months prior. In other words, in more than half of the bear markets the 10-year yield had fallen over the last three months of the preceding bull markets.\nYou shouldn’t conclude from this result that a bear market can’t happen unless interest rates are declining, however. Notice that in seven of these 17 bear markets, interest rates rose over the three months preceding the beginnings of those bear markets. The appropriate conclusion to draw is that interest-rate trends are an unreliable guide to when bull markets will come to an end.\nWhat about the Fed Funds rate?\nThis conclusion runs so counter to what we’re been repeatedly told over the years that I wanted to double-check it by focusing on the Federal Funds rate. This is the short-term rate that is directly set by the Federal Reserve’s Open Market Committee, and some analysts over the years have believed that it is the interest rate to which stock market investors should pay closest attention. According to Edson Gould’s famous “three steps and a stumble rule,” for example, the stock market will decline (“stumble”) after three consecutive interest rate hikes (“three steps”) from the Federal Reserve.\nGould, of course, was one of the most famous technical analysts of the 1960s and 1970s. Nevertheless, however much validity his rule may have had in prior decades, it hasn’t worked since the early 1980s. That’s when the Federal Reserve shifted its policy-setting stance to targeting the Fed Funds rate; before hat it focused on M1 money supply. At the top of seven of the nine bull markets since then, the most recent change in the Fed Funds rate was a cut—not an increase.\nI have no idea whether the current bull market is close to an end. But I would note that the most recent move in the Federal Funds rate was last March, when the Fed cut it by a full percentage point.\nThe bottom line? Don’t look to interest rate trends for when the bull market will come to an end.\nThis doesn’t mean that happy days are here again, let me hasten to add. Just because rising interest rates are not the concern that many think them to be doesn’t mean there aren’t plenty of other worries. There most definitely are,with overvaluation at the top of the list.","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363904074,"gmtCreate":1614089075998,"gmtModify":1634551226700,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"Nervous","listText":"Nervous","text":"Nervous","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363904074","repostId":"1198320495","repostType":4,"repost":{"id":"1198320495","pubTimestamp":1614087585,"share":"https://www.laohu8.com/m/news/1198320495?lang=&edition=full","pubTime":"2021-02-23 21:39","market":"us","language":"en","title":"The market is getting nervous about Powell’s testimony this week","url":"https://stock-news.laohu8.com/highlight/detail?id=1198320495","media":"cnbc","summary":"Federal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will be viewed closely this week for how he views this year’s run-up in bond yields.Investors worry that too quick of a rise might force the Fed to tighten policy too quickly, while a complacent Fed also would pose overheating risks.Rising bond yields and accompanying inflation fears are adding a level of drama to","content":"<div>\n<p>KEY POINTSFederal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The market is getting nervous about Powell’s testimony this week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe market is getting nervous about Powell’s testimony this week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 21:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSFederal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will ...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/02/22/market-nervousness-growing-over-powells-testimony-to-congress-this-week.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1198320495","content_text":"KEY POINTSFederal Reserve Chairman Jerome Powell speaks twice to Congress this week as part of mandated semiannual testimony.Normally nonevents for the market, the central bank leader’s comments will be viewed closely this week for how he views this year’s run-up in bond yields.Investors worry that too quick of a rise might force the Fed to tighten policy too quickly, while a complacent Fed also would pose overheating risks.Rising bond yields and accompanying inflation fears are adding a level of drama to Federal Reserve Chairman Jerome Powell’s appearance this week before Congress.The central bank chair is slated to address Senate and House panels on successive days as part of mandated semiannual updates on monetary policy.Normally routine affairs, recent financial market tumult and concerns about how the Fed may react have investors paying a bit more close attention than usual to the hearings scheduled for Tuesday and Wednesday.“This is one of the more interesting episodes in which a Fed chair has had to testify,” said Nathan Sheets, chief economist at PGIM Fixed Income. “Sometimes we say, ‘ho hum, no news.’ This is going to be news. He’s really caught between a rock and a hard place.”What’s got the market’s attention recently has been a pickup in government bond yields, particularly further out on the curve.While the 2-year is unchanged for 2021, the 5-year has risen nearly a quarter percentage point as of Friday’s market close while the benchmark 10-year note has seen its yield jump 41 basis points to 1.34%, an area where it hasn’t been since around the same time in 2020, before the worst of the pandemic struck.The 30-year bond yield has surged even more, leaping nearly half a point this year to 2.14%.Powell’s dilemma is this: Rising bond yields could be signaling the reflation of the economy that the Fed has been pushing and are therefore higher for good reasons. However, should the trend get out of control, the Fed then might have to tighten policy faster than the market expects, offsetting some of the good that has come with the burst in yields.Complicating the matter is that markets also might not like it if Powell is overly complacent.“If this testimony was behind closed doors, I think Jay Powell would be quite pleased with what he sees in the economy and the markets,” Sheets said, using the Fed chair’s nickname. “But given that it’s public, he’s got to be careful. If he’s too sanguine about the rise in rates, the markets are going to take that as a significant green light for rates to rip higher.”“The Fed is comfortable with an organic rise in rates reflecting shifts in views on growth and inflation,” he added. “But I think the Fed also wants to be careful that it doesn’t create and amplify a self-sustaining dynamic that pushes rates higher for other reasons.”Those “other reasons” primarily would be fears that the economy could overheat.Stimulus and more stimulusThe Fed has run historically loose policy for the past year, dropping its benchmark borrowing rate to near zero and buying at least $120 billion of bonds each month. That’s on top of a series of since-expired lending and liquidity programs implemented in the early days of the Covid-19 crisis.Along with that, Congress has come in with more than $3 trillion of fiscal stimulus and could approve up to $1.9 trillion more by the end of week.All that has transpired amid an economy that, besides a still-troubling employment problem primarily in the service sector, is humming. Wall Street is taking up first-quarter growth expectations and market-based indicators of inflation are rising.That’s why Powell’s tightrope walk this week will be all the more compelling.“The market mood has changed,”Mohamed El-Erian, chief economic advisor at Allianz, said Monday on CNBC’s “Squawk Box.” It’s no longer whether yields are going higher, it’s when is the move too big. That’s what the market’s trying to figure out.”Investors are particularly concerned whether all the stimulus isn’t going overboard and threatening to destabilize the economy over the longer run.“I can predict that the yellow lights are flashing all over the Fed because of the [yields] move and the steepening of the yield curve, and the Fed may do more to try to control yields,” El-Erian said.Fed officials have largely dismissed so-called yield curve control to use its bond purchasing power to control rates between various fixed income maturities.But the market could force the Fed’s hand, and Powell is likely to get asked about where he stands on what tools the Fed has to calm market issues. He has repeatedly stressed that the central bank has the weapons to control inflation, but deploying those comes with a price. Markets used to low yields and companies accustomed to cheap borrowing costs could get rattled by an unexpected Fed move.Evidence of how clearly the market is watching the issue came Monday morning, when European Central Bank President Christine Lagarde said she is “closely monitoring the evolution of longer-term nominal bond yields.” Her words were enough to calm a jittery market and turn what had been an opening loss on Wall Street into a mixed market with the Dow up in early afternoon trading. Treasury yields were mostly flat on the day.Tom Lee, managing partner and head of research at Fundstrat Global Advisors, noted that his “clients have already expressed some apprehension about this week. Part of this reflects the fact that bond yields have been steadily rising and equity investors are nervous that the bond market might reach some sort of ‘breaking point’” during Powell’s testimony.Powell speaks Tuesday before the Senate Finance Committee then Wednesday to the House Financial Services Committee.","news_type":1},"isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387554062,"gmtCreate":1613759219956,"gmtModify":1634552321798,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387554062","repostId":"1161529893","repostType":4,"repost":{"id":"1161529893","pubTimestamp":1613733842,"share":"https://www.laohu8.com/m/news/1161529893?lang=&edition=full","pubTime":"2021-02-19 19:24","market":"us","language":"en","title":"Goldman Sachs is joining the robo-investing party — should you?","url":"https://stock-news.laohu8.com/highlight/detail?id=1161529893","media":"Marketwatch","summary":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by so","content":"<blockquote>\n ‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n</blockquote>\n<p>Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.</p>\n<p>Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.</p>\n<p>“Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.</p>\n<p>Although the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.</p>\n<p>“People forget that banks are ultimately in the business of making money,” he said.</p>\n<p>Goldman Sachs declined to comment.</p>\n<p>The company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.</p>\n<p>Fees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.</p>\n<p>The median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.</p>\n<p>Robo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.</p>\n<p><b>Robo investing as a self-driving car</b></p>\n<p>Consumers have turned to robo-investing at unprecedented levels during the pandemic.</p>\n<p>The rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.</p>\n<p>So what is rob-investing? Think of it like a self-driving car.</p>\n<p>You put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.</p>\n<p>Robo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.</p>\n<p>There are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.</p>\n<p>And rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.</p>\n<p>Cynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.</p>\n<p>As she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”</p>\n<p><b>Robos appeal to inexperienced investors</b></p>\n<p>Robo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.</p>\n<p>That makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.</p>\n<p>“When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”</p>\n<p>That said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”</p>\n<p>Others disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.</p>\n<p>“Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.</p>\n<p><b>There is often no door to knock on</b></p>\n<p>Your robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.</p>\n<p>It won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.</p>\n<p>“The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.</p>\n<p>Not all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.</p>\n<p>Additionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.</p>\n<p>For instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.</p>\n<p>But with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.</p>\n<p>On top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.</p>\n<p>“If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.</p>\n<p>Don’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.</p>\n<p>But not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.</p>\n<p>The results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.</p>\n<p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Sachs is joining the robo-investing party — should you?</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\">\nGoldman Sachs is joining the robo-investing party — should you?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 19:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page><strong>Marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n\nRobo investing has become ...</p>\n\n<a href=\"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161529893","content_text":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n\nRobo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.\nNow anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.\n“Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\nAlthough the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.\n“People forget that banks are ultimately in the business of making money,” he said.\nGoldman Sachs declined to comment.\nThe company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.\nFees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.\nThe median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.\nRobo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.\nRobo investing as a self-driving car\nConsumers have turned to robo-investing at unprecedented levels during the pandemic.\nThe rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.\nSo what is rob-investing? Think of it like a self-driving car.\nYou put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.\nRobo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.\nThere are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.\nAnd rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.\nCynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.\nAs she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”\nRobos appeal to inexperienced investors\nRobo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.\nThat makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.\n“When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”\nThat said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”\nOthers disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.\n“Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.\nThere is often no door to knock on\nYour robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.\nIt won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.\n“The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.\nNot all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.\nAdditionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.\nFor instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.\nBut with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.\nOn top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.\n“If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.\nDon’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.\nBut not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.\nThe results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385628837,"gmtCreate":1613545947229,"gmtModify":1634553216677,"author":{"id":"3575683522809139","authorId":"3575683522809139","name":"ScarletK","avatar":"https://static.tigerbbs.com/5868eef6300d2210b1f895f1ce46e725","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575683522809139","authorIdStr":"3575683522809139"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385628837","repostId":"1146053060","repostType":4,"repost":{"id":"1146053060","pubTimestamp":1613540252,"share":"https://www.laohu8.com/m/news/1146053060?lang=&edition=full","pubTime":"2021-02-17 13:37","market":"fut","language":"en","title":"Is This Oil Rally The Start Of Something Much Bigger?","url":"https://stock-news.laohu8.com/highlight/detail?id=1146053060","media":"Oilprice","summary":"Commodities have rallied in recent months, outperforming equity indexes amid expectations of an econ","content":"<p>Commodities have rallied in recent months, outperforming equity indexes amid expectations of an economic recovery, easy monetary policy, and rising inflation.</p>\n<p>The commodity bull run across the board—spearheaded by a 50-percent jump in oil prices over the past three months—isn’t finished running, analysts and investment banks say. Some of the biggest investment banks have even started to call the start of a new commodities supercycle, which by definition, lasts years—typically about a decade.</p>\n<p>Yet, not all investment banks and analysts are as convinced that we are in for a commodities supercycle across the board, warning that the term<i>supercycle</i>is too optimistic for a bull run that could fizzle out within a year or two and could still fall victim to negative COVID-related impacts.</p>\n<p><b><i>Commodity Rally</i></b></p>\n<p>As early as in October 2020, a few weeks before the first announcement of an&nbsp;effective vaccine candidate, Goldman Sachs&nbsp;said&nbsp;that commodities were headed toward a bull run in 2021. Hedges against expectations of rising inflation, a weakening U.S. dollar in which most commodities are traded, and signals of “very easy” monetary policy from central banks would be the key drivers of rallying commodities, Goldman Sachs said back then.</p>\n<p>Goldman expected the S&amp;P Goldman Sachs Commodity Index (GSCI) to return 42.6 percent for energy over a 12-month period, and 17.9 percent for precious metals.</p>\n<p>Over the past three months, the&nbsp;S&amp;P GSCI has outperformed&nbsp;the S&amp;P 500 index, with the commodity index rising by 25 percent, compared to (just) a 9-percent increase in the S&amp;P 500.</p>\n<p>Over the same period, oil prices have rallied from the low $40s to above $60 a barrel, driven by vaccine rollouts, OPEC+ production cuts, and expectations of a tight market and rising oil demand later this year when economies return to growth, helped by large stimulus packages.</p>\n<p><b><i>Some Drivers Of A New Supercycle Are Here…</i></b></p>\n<p>According to JPMorgan, there are reasons to believe that a new commodity supercycle may have just started.</p>\n<p>“We believe that the new commodity upswing, and in particular oil up cycle, has started,” JPMorgan analysts led by Marko Kolanovic said in a note last week, as carried by&nbsp;Bloomberg.</p>\n<p>The latest commodity supercycle ended in 2008 after a 12-year run, boosted by the super-spending and economic surge in China.</p>\n<p>JPMorgan now sees several&nbsp;potential factors&nbsp;underpinning a new supercycle: post-pandemic global economic growth, “ultra loose” monetary policies, increased and tolerated inflation, weakening U.S. dollar, financial inflows to hedge inflation, metals for energy transition markets such as batteries and electric vehicles (EVs), and underinvestment in new oil supply.</p>\n<p>The International Energy Agency (IEA)&nbsp;warned&nbsp;last year that if investment in oil were to stay at the 2020 levels over the next five years, it would reduce the previously expected level of oil supply in 2025 by nearly 9 million barrels per day (bpd).</p>\n<p>This year, global upstream investments will stay low, just like they were in 2020, Wood Mackenzie&nbsp;said&nbsp;in December, expecting upstream oil and gas investment at a 15-year low of just US$300 billion, down by 30 percent from the pre-crisis level of investment in 2019.</p>\n<p>“The world may be sleepwalking into a supply crunch, albeit beyond 2021. A recovery in oil demand back to over 100 million b/d by late 2022 increases risk of a material supply gap later this decade, triggering an upward spike in price,” said Simon Flowers, Chairman and Chief Analyst at WoodMac.</p>\n<p>Then, “very easy monetary policy” and reflation trade could push oil pricesas high as $100 a barrel&nbsp;next year, Amrita Sen, chief oil analyst at Energy Aspects, told Bloomberg earlier this month.</p>\n<p>In the week to February 9, hedge funds increased bullish bets on 24 major commodity futures by 5 percent to a fresh high of 2.7 million lots, representing a nominal value of $143.7 billion, Ole Hansen, Head of Commodity Strategy at Saxo Bank,said, commenting on the latest Commitments of Traders report.</p>\n<p>The combined net long position—the difference between bullish and bearish bets—in Brent and WTI has now increased to the highest in 28 months, while the net long in the grain sector in agriculture is not far from the record set in August 2012, Hansen noted.</p>\n<p>Post-pandemic growth, tightening supply, and continued demand for reflation hedges pushed the Bloomberg Commodity index to a 27-month high, Hansen said.</p>\n<p><b><i>But Is This The Start Of The Next Commodities Supercycle?</i></b></p>\n<p>Although crude oil and other commodities have rallied and signals have emerged to support the call for a new supercycle, some analysts are cautious and say it is a little early to proclaim the beginning of the next commodity supercycle.</p>\n<p>What we see in oil and commodities right now is a cyclical recovery, but a supercycle could be “two to three years away,” George Cheveley, portfolio manager at asset management company Ninety One, told&nbsp;Financial Times’ Natural Resources Editor Neil Hume.</p>\n<p>This bull run is unlikely to turn into a supercycle for commodities, because while investment may be depressed, “the material is abundant” for many commodities, including crude oil, Ed Morse, managing director and global head of commodities research at Citigroup, told the&nbsp;Financial Post&nbsp;in an interview last week.</p>\n<p>Commodities have certainly benefited from the optimism that post-COVID growth and stimulus packages will boost demand and prices, but it may be a little premature to trumpet the next decade-long across-the-board commodities supercycle.</p>","source":"lsy1606109400967","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>Is This Oil Rally The Start Of Something Much Bigger?</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\">\nIs This Oil Rally The Start Of Something Much Bigger?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-17 13:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://oilprice.com/Energy/Oil-Prices/Is-This-Oil-Rally-The-Start-Of-Something-Much-Bigger.html><strong>Oilprice</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Commodities have rallied in recent months, outperforming equity indexes amid expectations of an economic recovery, easy monetary policy, and rising inflation.\nThe commodity bull run across the board—...</p>\n\n<a href=\"https://oilprice.com/Energy/Oil-Prices/Is-This-Oil-Rally-The-Start-Of-Something-Much-Bigger.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://oilprice.com/Energy/Oil-Prices/Is-This-Oil-Rally-The-Start-Of-Something-Much-Bigger.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146053060","content_text":"Commodities have rallied in recent months, outperforming equity indexes amid expectations of an economic recovery, easy monetary policy, and rising inflation.\nThe commodity bull run across the board—spearheaded by a 50-percent jump in oil prices over the past three months—isn’t finished running, analysts and investment banks say. Some of the biggest investment banks have even started to call the start of a new commodities supercycle, which by definition, lasts years—typically about a decade.\nYet, not all investment banks and analysts are as convinced that we are in for a commodities supercycle across the board, warning that the termsupercycleis too optimistic for a bull run that could fizzle out within a year or two and could still fall victim to negative COVID-related impacts.\nCommodity Rally\nAs early as in October 2020, a few weeks before the first announcement of an effective vaccine candidate, Goldman Sachs said that commodities were headed toward a bull run in 2021. Hedges against expectations of rising inflation, a weakening U.S. dollar in which most commodities are traded, and signals of “very easy” monetary policy from central banks would be the key drivers of rallying commodities, Goldman Sachs said back then.\nGoldman expected the S&P Goldman Sachs Commodity Index (GSCI) to return 42.6 percent for energy over a 12-month period, and 17.9 percent for precious metals.\nOver the past three months, the S&P GSCI has outperformed the S&P 500 index, with the commodity index rising by 25 percent, compared to (just) a 9-percent increase in the S&P 500.\nOver the same period, oil prices have rallied from the low $40s to above $60 a barrel, driven by vaccine rollouts, OPEC+ production cuts, and expectations of a tight market and rising oil demand later this year when economies return to growth, helped by large stimulus packages.\nSome Drivers Of A New Supercycle Are Here…\nAccording to JPMorgan, there are reasons to believe that a new commodity supercycle may have just started.\n“We believe that the new commodity upswing, and in particular oil up cycle, has started,” JPMorgan analysts led by Marko Kolanovic said in a note last week, as carried by Bloomberg.\nThe latest commodity supercycle ended in 2008 after a 12-year run, boosted by the super-spending and economic surge in China.\nJPMorgan now sees several potential factors underpinning a new supercycle: post-pandemic global economic growth, “ultra loose” monetary policies, increased and tolerated inflation, weakening U.S. dollar, financial inflows to hedge inflation, metals for energy transition markets such as batteries and electric vehicles (EVs), and underinvestment in new oil supply.\nThe International Energy Agency (IEA) warned last year that if investment in oil were to stay at the 2020 levels over the next five years, it would reduce the previously expected level of oil supply in 2025 by nearly 9 million barrels per day (bpd).\nThis year, global upstream investments will stay low, just like they were in 2020, Wood Mackenzie said in December, expecting upstream oil and gas investment at a 15-year low of just US$300 billion, down by 30 percent from the pre-crisis level of investment in 2019.\n“The world may be sleepwalking into a supply crunch, albeit beyond 2021. A recovery in oil demand back to over 100 million b/d by late 2022 increases risk of a material supply gap later this decade, triggering an upward spike in price,” said Simon Flowers, Chairman and Chief Analyst at WoodMac.\nThen, “very easy monetary policy” and reflation trade could push oil pricesas high as $100 a barrel next year, Amrita Sen, chief oil analyst at Energy Aspects, told Bloomberg earlier this month.\nIn the week to February 9, hedge funds increased bullish bets on 24 major commodity futures by 5 percent to a fresh high of 2.7 million lots, representing a nominal value of $143.7 billion, Ole Hansen, Head of Commodity Strategy at Saxo Bank,said, commenting on the latest Commitments of Traders report.\nThe combined net long position—the difference between bullish and bearish bets—in Brent and WTI has now increased to the highest in 28 months, while the net long in the grain sector in agriculture is not far from the record set in August 2012, Hansen noted.\nPost-pandemic growth, tightening supply, and continued demand for reflation hedges pushed the Bloomberg Commodity index to a 27-month high, Hansen said.\nBut Is This The Start Of The Next Commodities Supercycle?\nAlthough crude oil and other commodities have rallied and signals have emerged to support the call for a new supercycle, some analysts are cautious and say it is a little early to proclaim the beginning of the next commodity supercycle.\nWhat we see in oil and commodities right now is a cyclical recovery, but a supercycle could be “two to three years away,” George Cheveley, portfolio manager at asset management company Ninety One, told Financial Times’ Natural Resources Editor Neil Hume.\nThis bull run is unlikely to turn into a supercycle for commodities, because while investment may be depressed, “the material is abundant” for many commodities, including crude oil, Ed Morse, managing director and global head of commodities research at Citigroup, told the Financial Post in an interview last week.\nCommodities have certainly benefited from the optimism that post-COVID growth and stimulus packages will boost demand and prices, but it may be a little premature to trumpet the next decade-long across-the-board commodities supercycle.","news_type":1},"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}