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2021-06-12

Hodl

Jim Cramer: Be patient with bitcoin, approach the S&P with caution

2021-06-12

Nice

S&P ekes out gains to close languid week

2021-06-14

I agree

4 Unshortable Stocks That Are Too Risky to Bet Against

2021-06-15

Looks good

Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up

2021-06-14

Good read

3 Reasons Roku Will Keep Growing Faster in 2021

2021-06-12

Thats nice

Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare

2021-06-15

Nice

Fed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse

2021-06-14

Oh no!

Philips recalls some 3-4 million "CPAP", ventilator machines due to foam part

2021-06-14

Nice

抱歉，原内容已删除

2021-06-14

Good info

PayPal: One Of The Best Plays On The Secular Growth Trend Of Digital Payments

2021-06-12

Interesting

How oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy

2021-06-12

Oh no

G7 leaders will endorse proposed 15% global corporate minimum tax -White House

2021-06-12

Good info

As America reopens, businesses—from airlines to arenas—see an uptick in bad behavior

2021-06-12

Yes

AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders

2021-06-12

Nice

Investor, Trader, Speculator: Which One Are You?

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good","listText":"Looks good","text":"Looks good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/187654423","repostId":"1167457915","repostType":4,"repost":{"id":"1167457915","kind":"news","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":1623750756,"share":"https://www.laohu8.com/m/news/1167457915?lang=&edition=full","pubTime":"2021-06-15 17:52","market":"us","language":"en","title":"Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1167457915","media":"Benzinga","summary":"It was \"better late than never\" for Novavax, Inc.NVAX, as the biopharma finally got around to announ","content":"<p>It was \"better late than never\" for&nbsp;<b>Novavax, Inc.</b>NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.</p>\n<p>Here's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namely<b>Pfizer Inc.</b>PFE 0.05%-<b>BioNTech SE</b>BNTXand<b>Moderna, Inc.</b>MRNA, both of which have authorized vaccines in the market.</p>\n<p><b>Vaccine Type:</b>&nbsp;Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.</p>\n<p>The Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern&nbsp;vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.</p>\n<p>This spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.</p>\n<p>Novavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle&nbsp;that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.</p>\n<p><b>The Vaccine Doses:</b>&nbsp;The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.</p>\n<p>The interval between the two doses —&nbsp;the priming and booster dose —&nbsp;is 21 days each for Pfizer and Novavax and 28 days for Moderna.</p>\n<p><b>The Target Population:</b>&nbsp;The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants&nbsp;ages 16 years and older. The trial enrolled 43,448 participants.</p>\n<p>Moderna'sPhase 3 COVE study enrolled 30,000 participants&nbsp;ages 18 years and up.</p>\n<p>Since then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.</p>\n<p>Bothcompanieshave also initiated studies in the pediatric population.</p>\n<p>Novavax's study enrolled 29,960 participants&nbsp;18 years of age and older&nbsp;across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.</p>\n<p><b>Vaccine Logistics:</b>&nbsp;Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.</p>\n<p>Previously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five&nbsp;days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.</p>\n<p>NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.</p>\n<p><b>Vaccine Efficacy:</b>&nbsp;Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven&nbsp;days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.</p>\n<p>The vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.</p>\n<p>Moderna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.</p>\n<p>Novavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.</p>\n<p>Against variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.</p>\n<p>Overall efficacy was 90.4%, meeting the primary endpoint.</p>\n<p><b>Cantor Fitzgerald On Novavax's Vaccine:</b>A differentiating factor for NVX-2373&nbsp;is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.</p>\n<p>\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.</p>\n<p>Showing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.</p>\n<p>This profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.</p>\n<p><b>Vaccine Safety Data:</b>Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from&nbsp;BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.</p>\n<p>For Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.</p>\n<p>Preliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.</p>\n<p>In assessing reactogenicity seven&nbsp;days after dose one&nbsp;and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.</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>Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up</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\">\nNovavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up\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\">2021-06-15 17:52</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It was \"better late than never\" for&nbsp;<b>Novavax, Inc.</b>NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.</p>\n<p>Here's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namely<b>Pfizer Inc.</b>PFE 0.05%-<b>BioNTech SE</b>BNTXand<b>Moderna, Inc.</b>MRNA, both of which have authorized vaccines in the market.</p>\n<p><b>Vaccine Type:</b>&nbsp;Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.</p>\n<p>The Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern&nbsp;vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.</p>\n<p>This spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.</p>\n<p>Novavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle&nbsp;that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.</p>\n<p><b>The Vaccine Doses:</b>&nbsp;The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.</p>\n<p>The interval between the two doses —&nbsp;the priming and booster dose —&nbsp;is 21 days each for Pfizer and Novavax and 28 days for Moderna.</p>\n<p><b>The Target Population:</b>&nbsp;The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants&nbsp;ages 16 years and older. The trial enrolled 43,448 participants.</p>\n<p>Moderna'sPhase 3 COVE study enrolled 30,000 participants&nbsp;ages 18 years and up.</p>\n<p>Since then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.</p>\n<p>Bothcompanieshave also initiated studies in the pediatric population.</p>\n<p>Novavax's study enrolled 29,960 participants&nbsp;18 years of age and older&nbsp;across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.</p>\n<p><b>Vaccine Logistics:</b>&nbsp;Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.</p>\n<p>Previously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five&nbsp;days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.</p>\n<p>NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.</p>\n<p><b>Vaccine Efficacy:</b>&nbsp;Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven&nbsp;days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.</p>\n<p>The vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.</p>\n<p>Moderna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.</p>\n<p>Novavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.</p>\n<p>Against variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.</p>\n<p>Overall efficacy was 90.4%, meeting the primary endpoint.</p>\n<p><b>Cantor Fitzgerald On Novavax's Vaccine:</b>A differentiating factor for NVX-2373&nbsp;is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.</p>\n<p>\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.</p>\n<p>Showing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.</p>\n<p>This profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.</p>\n<p><b>Vaccine Safety Data:</b>Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from&nbsp;BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.</p>\n<p>For Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.</p>\n<p>Preliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.</p>\n<p>In assessing reactogenicity seven&nbsp;days after dose one&nbsp;and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc.","PFE":"辉瑞","NVAX":"诺瓦瓦克斯医药"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167457915","content_text":"It was \"better late than never\" for Novavax, Inc.NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.\nHere's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namelyPfizer Inc.PFE 0.05%-BioNTech SEBNTXandModerna, Inc.MRNA, both of which have authorized vaccines in the market.\nVaccine Type: Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.\nThe Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.\nThis spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.\nNovavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.\nThe Vaccine Doses: The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.\nThe interval between the two doses — the priming and booster dose — is 21 days each for Pfizer and Novavax and 28 days for Moderna.\nThe Target Population: The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants ages 16 years and older. The trial enrolled 43,448 participants.\nModerna'sPhase 3 COVE study enrolled 30,000 participants ages 18 years and up.\nSince then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.\nBothcompanieshave also initiated studies in the pediatric population.\nNovavax's study enrolled 29,960 participants 18 years of age and older across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.\nVaccine Logistics: Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.\nPreviously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.\nNVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.\nVaccine Efficacy: Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.\nThe vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.\nModerna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.\nNovavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.\nAgainst variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.\nOverall efficacy was 90.4%, meeting the primary endpoint.\nCantor Fitzgerald On Novavax's Vaccine:A differentiating factor for NVX-2373 is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.\n\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.\nShowing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.\nThis profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.\nVaccine Safety Data:Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.\nFor Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.\nPreliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.\nIn assessing reactogenicity seven days after dose one and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187656147,"gmtCreate":1623753166989,"gmtModify":1634029022357,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"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/187656147","repostId":"1142697857","repostType":4,"repost":{"id":"1142697857","kind":"news","pubTimestamp":1623752468,"share":"https://www.laohu8.com/m/news/1142697857?lang=&edition=full","pubTime":"2021-06-15 18:21","market":"us","language":"en","title":"Fed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse","url":"https://stock-news.laohu8.com/highlight/detail?id=1142697857","media":"Bloomberg","summary":"Fed wants to normalize relations with Congress, markets\nPolicy makers may begin months-long talks on","content":"<ul>\n <li>Fed wants to normalize relations with Congress, markets</li>\n <li>Policy makers may begin months-long talks on taper Tuesday</li>\n</ul>\n<p>The Federal Reserve is inching toward the start of a long road to normalizing its relationship with the rest of Washington and Wall Street.</p>\n<p>After spending the past 15 months providing unprecedented help to the federal government and investors via trillions of dollars of bond purchases, it could start preliminary discussions about scaling back that support at a pivotal two-day policy meeting that kicks off on Tuesday.</p>\n<p>Even so, actual steps in that direction by Chair Jerome Powell and his colleagues are likely still months off.</p>\n<p>Weaning Wall Street and Washington off the Fed’s extraordinary largesse won’t be easy. Since Covid-19 struck the U.S. in March 2020, the central bank has brought more than $2.5 trillion of U.S. Treasury debt, effectively covering more than half of the federal government’s red ink over that time.</p>\n<p><img src=\"https://static.tigerbbs.com/f845f5d5fa4baccad7e30207df549d71\" tg-width=\"620\" tg-height=\"348\">That buying -- together with about $870 billion in purchases of mortgage-backed securities -- has flooded the financial markets with liquidity, contributing to a doubling of the stock market from its pandemic low.</p>\n<p>“It will be like crawling along a knife-edge ridge,” former Bank of England policy maker Charles Goodhart said of the task facing the Fed. “If you do too little you’ll find inflation will just go on accelerating. If you do too much you get into a financial crisis and a recession.”</p>\n<p>Fed officials have said they want to see “substantial further progress” toward their goals of maximum employment and average 2% inflation before reducing current asset purchases of $120 billion per month. None are suggesting that they’re close to achieving that, though some have pressed for discussions to begin on a plan for tapering that buying.</p>\n<p>As Powell has pointed out more than once, payrolls are still substantially below where they were pre-pandemic -- some 7.6 million jobs short, according to the May employment report. And while inflation recently has proven surprisingly rapid -- consumer prices climbed 5% in May from a year earlier -- Powell and other Fed officials have argued that the rise is mostly transitory, the result of temporary bottlenecks as the economy reopens and low readings a year ago when it shut down.</p>\n<p><b>Price Pressures Heat Up</b></p>\n<p>U.S. core and headline inflation both increased more than forecast in May</p>\n<p><img src=\"https://static.tigerbbs.com/320b6b6419ac9bcbe999007f7786196f\" tg-width=\"643\" tg-height=\"330\">“Why would the Fed try to fix bottleneck-driven inflation by signaling earlier rate hikes and hitting demand?” Julia Coronado, president of MacroPolicy Perspectives, asked in a June 14 tweet.</p>\n<p>Instead, after years of falling short of their inflation goal, policy makers will “err on the side of patience” in scaling back stimulus, said former Fed official David Wilcox, who is now at the Peterson Institute for International Economics.</p>\n<p>Powell’s past and potential future also argue for patience. As a Fed governor in 2013, he was among those pushing then-Chairman Ben Bernanke to roll back quantitative easing, only to see the financial markets throw a “taper tantrum” at the mere suggestion such a policy shift was coming.</p>\n<p>With his own term as Fed chair up next February, Powell has an extra incentive to avoid a repeat of such turbulence.</p>\n<p>“While the Fed is an independent institution, its leadership, up for reappointment next year, could not totally ignore the dim view the administration and Democratic Congress would take toward a shift to a more pre-emptive policy stance,” Deutsche Bank chief economist David Folkerts-Landau and colleagues wrote in a June 7 report.</p>\n<p>Some three-quarters of economists surveyed by Bloomberg last week said they expect the Fed to announce between August and year-end that it will begin paring its purchases, with one-third forecasting it won’t fire the starting gun until December.</p>\n<p>It’s not just the timing of the taper that’s up for discussion. So too are its composition and pace.</p>\n<p>The Fed has faced criticism from within and outside the organization for continuing to buy $40 billion of mortgage-backed securities per month while house prices are surging. Vice Chair Randal Quarles said last month that the Fed would “certainly” look at that issue in the context of its taper discussions.</p>\n<p><b>Steady Pace</b></p>\n<p>The last time the Fed wound up a quantitative easing program, in 2014, it shrank its asset purchases at a steady pace.</p>\n<p>“Investors may be lulled into a false sense of security by that experience,” former Fed official William English told a June 8 Deutsche Bank webinar. Given all the uncertainty surrounding the post pandemic economy, “it’s not necessarily going to be the case that the Fed is going to taper in steady steps.”</p>\n<p>Much may depend on the financial markets. American Enterprise Institute resident fellow Desmond Lachman said the ultra-easy monetary policy being pursued by the Fed and other major central banks has led to an “everything asset price bubble,” with stock, credit and housing markets all frothy.</p>\n<p>“The chance of the bubble bursting is all the greater if the Fed is behind the curve,” he said.</p>\n<p>English, who is now at the Yale School of Management, said it’s going to be politically hard for the Fed to wind up its asset purchases and increase interest rates because that will boost the government’s borrowing costs.</p>\n<p>“The Fed is going to come under a lot of criticism for raising rates and making budget choices for the Congress considerably tougher,” he said, adding, “At some level, the Fed needs to both normalize policy but also normalize its relationship with the government.”</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>Fed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse</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\">\nFed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 18:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-15/fed-poised-to-crawl-onto-knife-edge-to-rein-in-record-largesse><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fed wants to normalize relations with Congress, markets\nPolicy makers may begin months-long talks on taper Tuesday\n\nThe Federal Reserve is inching toward the start of a long road to normalizing its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-15/fed-poised-to-crawl-onto-knife-edge-to-rein-in-record-largesse\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-15/fed-poised-to-crawl-onto-knife-edge-to-rein-in-record-largesse","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142697857","content_text":"Fed wants to normalize relations with Congress, markets\nPolicy makers may begin months-long talks on taper Tuesday\n\nThe Federal Reserve is inching toward the start of a long road to normalizing its relationship with the rest of Washington and Wall Street.\nAfter spending the past 15 months providing unprecedented help to the federal government and investors via trillions of dollars of bond purchases, it could start preliminary discussions about scaling back that support at a pivotal two-day policy meeting that kicks off on Tuesday.\nEven so, actual steps in that direction by Chair Jerome Powell and his colleagues are likely still months off.\nWeaning Wall Street and Washington off the Fed’s extraordinary largesse won’t be easy. Since Covid-19 struck the U.S. in March 2020, the central bank has brought more than $2.5 trillion of U.S. Treasury debt, effectively covering more than half of the federal government’s red ink over that time.\nThat buying -- together with about $870 billion in purchases of mortgage-backed securities -- has flooded the financial markets with liquidity, contributing to a doubling of the stock market from its pandemic low.\n“It will be like crawling along a knife-edge ridge,” former Bank of England policy maker Charles Goodhart said of the task facing the Fed. “If you do too little you’ll find inflation will just go on accelerating. If you do too much you get into a financial crisis and a recession.”\nFed officials have said they want to see “substantial further progress” toward their goals of maximum employment and average 2% inflation before reducing current asset purchases of $120 billion per month. None are suggesting that they’re close to achieving that, though some have pressed for discussions to begin on a plan for tapering that buying.\nAs Powell has pointed out more than once, payrolls are still substantially below where they were pre-pandemic -- some 7.6 million jobs short, according to the May employment report. And while inflation recently has proven surprisingly rapid -- consumer prices climbed 5% in May from a year earlier -- Powell and other Fed officials have argued that the rise is mostly transitory, the result of temporary bottlenecks as the economy reopens and low readings a year ago when it shut down.\nPrice Pressures Heat Up\nU.S. core and headline inflation both increased more than forecast in May\n“Why would the Fed try to fix bottleneck-driven inflation by signaling earlier rate hikes and hitting demand?” Julia Coronado, president of MacroPolicy Perspectives, asked in a June 14 tweet.\nInstead, after years of falling short of their inflation goal, policy makers will “err on the side of patience” in scaling back stimulus, said former Fed official David Wilcox, who is now at the Peterson Institute for International Economics.\nPowell’s past and potential future also argue for patience. As a Fed governor in 2013, he was among those pushing then-Chairman Ben Bernanke to roll back quantitative easing, only to see the financial markets throw a “taper tantrum” at the mere suggestion such a policy shift was coming.\nWith his own term as Fed chair up next February, Powell has an extra incentive to avoid a repeat of such turbulence.\n“While the Fed is an independent institution, its leadership, up for reappointment next year, could not totally ignore the dim view the administration and Democratic Congress would take toward a shift to a more pre-emptive policy stance,” Deutsche Bank chief economist David Folkerts-Landau and colleagues wrote in a June 7 report.\nSome three-quarters of economists surveyed by Bloomberg last week said they expect the Fed to announce between August and year-end that it will begin paring its purchases, with one-third forecasting it won’t fire the starting gun until December.\nIt’s not just the timing of the taper that’s up for discussion. So too are its composition and pace.\nThe Fed has faced criticism from within and outside the organization for continuing to buy $40 billion of mortgage-backed securities per month while house prices are surging. Vice Chair Randal Quarles said last month that the Fed would “certainly” look at that issue in the context of its taper discussions.\nSteady Pace\nThe last time the Fed wound up a quantitative easing program, in 2014, it shrank its asset purchases at a steady pace.\n“Investors may be lulled into a false sense of security by that experience,” former Fed official William English told a June 8 Deutsche Bank webinar. Given all the uncertainty surrounding the post pandemic economy, “it’s not necessarily going to be the case that the Fed is going to taper in steady steps.”\nMuch may depend on the financial markets. American Enterprise Institute resident fellow Desmond Lachman said the ultra-easy monetary policy being pursued by the Fed and other major central banks has led to an “everything asset price bubble,” with stock, credit and housing markets all frothy.\n“The chance of the bubble bursting is all the greater if the Fed is behind the curve,” he said.\nEnglish, who is now at the Yale School of Management, said it’s going to be politically hard for the Fed to wind up its asset purchases and increase interest rates because that will boost the government’s borrowing costs.\n“The Fed is going to come under a lot of criticism for raising rates and making budget choices for the Congress considerably tougher,” he said, adding, “At some level, the Fed needs to both normalize policy but also normalize its relationship with the government.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185214446,"gmtCreate":1623652948485,"gmtModify":1634030606220,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185214446","repostId":"2143785982","repostType":4,"repost":{"id":"2143785982","kind":"highlight","pubTimestamp":1623651978,"share":"https://www.laohu8.com/m/news/2143785982?lang=&edition=full","pubTime":"2021-06-14 14:26","market":"us","language":"en","title":"3 Reasons Roku Will Keep Growing Faster in 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2143785982","media":"Motley Fool","summary":"The streaming video platform company has long-term tailwinds.","content":"<p><b>Roku</b>'s (NASDAQ:ROKU) active accounts and streaming hours exploded in 2020 amid the coronavirus pandemic, and its outlook for 2021 is still strong. In Roku's first-quarter letter to shareholders, management wrote, \"we expect net adds of both active accounts and streaming hours to be above pre-COVID-19 levels.\" Management also anticipates an uptick in streaming hours per account over 2020.</p>\n<p>Here are three reasons management is so confident about the company's continued growth even as more out-of-home entertainment options become available again.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec19c2416d561ebc17e5c5ee47f1d17e\" tg-width=\"700\" tg-height=\"417\"><span>Image source: Roku.</span></p>\n<h2><b>1. New streaming services</b></h2>\n<p>Several high-profile streaming services entered the market in late 2019 and 2020. However, <b>Comcast</b>'s Peacock and <b>AT&amp;T</b>'s HBO Max didn't actually show up on Roku devices until late last year.</p>\n<p>On top of that, <b>Discovery</b>&nbsp;launched Discovery+ at the start of this year, and a CNN+ streaming service could be in the works as well.</p>\n<p>This summer, Peacock will stream a large amount of Olympic Games content, which could boost its popularity and draw more users to Roku devices. (As of June, Peacock still doesn't have a deal with Amazon Fire TV.)</p>\n<p>Broadly speaking, media companies are adopting direct-to-consumer streaming and making more of their content available on connected-TV platforms. And Roku is investing in content for its Roku Channel. With more content available to stream than ever before, it should see an increase in user engagement.</p>\n<h2><b>2. International growth</b></h2>\n<p>While Roku is already the most popular connected-TV platform in the U.S., it's still in the early days of its international expansion. Management is following the same playbook in foreign markets as it did domestically: first scale its user base, then increase engagement, and then improve monetization.</p>\n<p>So far, it's working well. In Canada -- <a href=\"https://laohu8.com/S/AONE\">one</a> of the first international markets it pushed into -- it's already the No. 1 smart TV platform. In Mexico, it's No. 2, and has the top-licensed smart TV OS.</p>\n<p>Roku has an additional advantage in international markets: Viewers in those markets are more prone to engage with ad-supported content versus subscription services. Those services are a bigger focus for Roku than they are for its competitors, and The Roku Channel gives it an additional leg up. That streaming service is currently available in Canada and the U.K., as well as the U.S.</p>\n<p>As Roku continues to establish itself in international markets like the U.K. and Brazil, it's well-positioned for strong account growth even compared to a couple of years ago.</p>\n<h2><b>3. The continued shift in media consumption patterns</b></h2>\n<p>Roku operates under the assumption that all TV will become streaming media. That said, Americans spent an average of 3.5 hours per day watching traditional TV in 2020, according to an estimate from eMarketer. The analysts expect TV viewing to decline by 16 minutes per day this year, and about half of that time will be shifted into consuming media on connected devices and platforms like Roku's.</p>\n<p><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> factors are driving the decline in traditional TV viewing. First is a shift among cable subscribers from watching linear TV to viewing more on-demand streaming content. Second, and more importantly, cord-cutting is on course to accelerate in 2021, and that trend is forecast to continue throughout the decade. Those trends should combine to produce a sustained shift in viewership from traditional TV to streaming programming.</p>\n<p>Also, in 2021, U.S. audiences are likely to have less interest in news programming -- absent a raging pandemic and a presidential election -- and more interest in entertainment, which is best served via streaming. That should produce greater engagement among Roku users regardless, but when you factor in the increased number of streaming options, average engagement on Roku should still climb compared to 2020. Add in the potential for strong international growth, and 2021 should be another year of rapid growth in users and engagement for Roku.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Reasons Roku Will Keep Growing Faster in 2021</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Reasons Roku Will Keep Growing Faster in 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/13/3-reasons-roku-will-keep-growing-faster-in-2021/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Roku's (NASDAQ:ROKU) active accounts and streaming hours exploded in 2020 amid the coronavirus pandemic, and its outlook for 2021 is still strong. In Roku's first-quarter letter to shareholders, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/13/3-reasons-roku-will-keep-growing-faster-in-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2021/06/13/3-reasons-roku-will-keep-growing-faster-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143785982","content_text":"Roku's (NASDAQ:ROKU) active accounts and streaming hours exploded in 2020 amid the coronavirus pandemic, and its outlook for 2021 is still strong. In Roku's first-quarter letter to shareholders, management wrote, \"we expect net adds of both active accounts and streaming hours to be above pre-COVID-19 levels.\" Management also anticipates an uptick in streaming hours per account over 2020.\nHere are three reasons management is so confident about the company's continued growth even as more out-of-home entertainment options become available again.\nImage source: Roku.\n1. New streaming services\nSeveral high-profile streaming services entered the market in late 2019 and 2020. However, Comcast's Peacock and AT&T's HBO Max didn't actually show up on Roku devices until late last year.\nOn top of that, Discovery launched Discovery+ at the start of this year, and a CNN+ streaming service could be in the works as well.\nThis summer, Peacock will stream a large amount of Olympic Games content, which could boost its popularity and draw more users to Roku devices. (As of June, Peacock still doesn't have a deal with Amazon Fire TV.)\nBroadly speaking, media companies are adopting direct-to-consumer streaming and making more of their content available on connected-TV platforms. And Roku is investing in content for its Roku Channel. With more content available to stream than ever before, it should see an increase in user engagement.\n2. International growth\nWhile Roku is already the most popular connected-TV platform in the U.S., it's still in the early days of its international expansion. Management is following the same playbook in foreign markets as it did domestically: first scale its user base, then increase engagement, and then improve monetization.\nSo far, it's working well. In Canada -- one of the first international markets it pushed into -- it's already the No. 1 smart TV platform. In Mexico, it's No. 2, and has the top-licensed smart TV OS.\nRoku has an additional advantage in international markets: Viewers in those markets are more prone to engage with ad-supported content versus subscription services. Those services are a bigger focus for Roku than they are for its competitors, and The Roku Channel gives it an additional leg up. That streaming service is currently available in Canada and the U.K., as well as the U.S.\nAs Roku continues to establish itself in international markets like the U.K. and Brazil, it's well-positioned for strong account growth even compared to a couple of years ago.\n3. The continued shift in media consumption patterns\nRoku operates under the assumption that all TV will become streaming media. That said, Americans spent an average of 3.5 hours per day watching traditional TV in 2020, according to an estimate from eMarketer. The analysts expect TV viewing to decline by 16 minutes per day this year, and about half of that time will be shifted into consuming media on connected devices and platforms like Roku's.\nTwo factors are driving the decline in traditional TV viewing. First is a shift among cable subscribers from watching linear TV to viewing more on-demand streaming content. Second, and more importantly, cord-cutting is on course to accelerate in 2021, and that trend is forecast to continue throughout the decade. Those trends should combine to produce a sustained shift in viewership from traditional TV to streaming programming.\nAlso, in 2021, U.S. audiences are likely to have less interest in news programming -- absent a raging pandemic and a presidential election -- and more interest in entertainment, which is best served via streaming. That should produce greater engagement among Roku users regardless, but when you factor in the increased number of streaming options, average engagement on Roku should still climb compared to 2020. Add in the potential for strong international growth, and 2021 should be another year of rapid growth in users and engagement for Roku.","news_type":1},"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185214225,"gmtCreate":1623652934867,"gmtModify":1634030606466,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Oh no!","listText":"Oh no!","text":"Oh no!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185214225","repostId":"2143789794","repostType":4,"repost":{"id":"2143789794","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623652879,"share":"https://www.laohu8.com/m/news/2143789794?lang=&edition=full","pubTime":"2021-06-14 14:41","market":"us","language":"en","title":"Philips recalls some 3-4 million \"CPAP\", ventilator machines due to foam part","url":"https://stock-news.laohu8.com/highlight/detail?id=2143789794","media":"Reuters","summary":"AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall v","content":"<p>AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall ventilators and \"CPAP\" breathing devices globally because of a foam part that might degrade and be inhaled.</p>\n<p>The company said that though the matter would cause \"revenue headwinds\" in its sleep &amp; respiratory care division, that would be compensated by strength in other businesses. It left its full year financial guidance of \"low-to-mid-single-digit\" comparable sales growth unchanged.</p>\n<p>Philips had first disclosed the issue, for which it then took a 250 million euro ($303 million) charge, in its first quarter-earnings report in April.</p>\n<p>The company's guidance is for users of the CPAP machines, which help people with sleep apnea, to halt usage. Doctors with patients using life-sustaining ventilators should first consider whether the potential danger from the foam outweighs other risks.</p>\n<p>The degrading foam, which is used to dampen the machines' sound, can turn into small, inhaled particles, irritating airways and potentially causing cancer, Philips said. Gasses released by the degrading foam may also be toxic or carry cancer risks.</p>\n<p>Philips spokesman Steve Klink said the company was working with health authorities on a safe replacement for the foam, but the new material must first clear testing and regulatory hurdles.</p>\n<p>\"Philips aims to address all affected devices\" as soon as possible, the company said in a statement.</p>\n<p>In April, Philips said first quarter core earnings surged 74% in the first quarter to 362 million euros ($438 million), compared with the same period a year earlier, on a 9% rise in comparable sales.</p>\n<p>Shares closed at 46.38 euros on Friday, up 1.6% in the year to date.</p>\n<p>($1 = 0.8263 euros)</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>Philips recalls some 3-4 million \"CPAP\", ventilator machines due to foam part</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\">\nPhilips recalls some 3-4 million \"CPAP\", ventilator machines due to foam part\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-14 14:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall ventilators and \"CPAP\" breathing devices globally because of a foam part that might degrade and be inhaled.</p>\n<p>The company said that though the matter would cause \"revenue headwinds\" in its sleep &amp; respiratory care division, that would be compensated by strength in other businesses. It left its full year financial guidance of \"low-to-mid-single-digit\" comparable sales growth unchanged.</p>\n<p>Philips had first disclosed the issue, for which it then took a 250 million euro ($303 million) charge, in its first quarter-earnings report in April.</p>\n<p>The company's guidance is for users of the CPAP machines, which help people with sleep apnea, to halt usage. Doctors with patients using life-sustaining ventilators should first consider whether the potential danger from the foam outweighs other risks.</p>\n<p>The degrading foam, which is used to dampen the machines' sound, can turn into small, inhaled particles, irritating airways and potentially causing cancer, Philips said. Gasses released by the degrading foam may also be toxic or carry cancer risks.</p>\n<p>Philips spokesman Steve Klink said the company was working with health authorities on a safe replacement for the foam, but the new material must first clear testing and regulatory hurdles.</p>\n<p>\"Philips aims to address all affected devices\" as soon as possible, the company said in a statement.</p>\n<p>In April, Philips said first quarter core earnings surged 74% in the first quarter to 362 million euros ($438 million), compared with the same period a year earlier, on a 9% rise in comparable sales.</p>\n<p>Shares closed at 46.38 euros on Friday, up 1.6% in the year to date.</p>\n<p>($1 = 0.8263 euros)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PHG":"飞利浦","0LNG.UK":"飞利浦"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143789794","content_text":"AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall ventilators and \"CPAP\" breathing devices globally because of a foam part that might degrade and be inhaled.\nThe company said that though the matter would cause \"revenue headwinds\" in its sleep & respiratory care division, that would be compensated by strength in other businesses. It left its full year financial guidance of \"low-to-mid-single-digit\" comparable sales growth unchanged.\nPhilips had first disclosed the issue, for which it then took a 250 million euro ($303 million) charge, in its first quarter-earnings report in April.\nThe company's guidance is for users of the CPAP machines, which help people with sleep apnea, to halt usage. Doctors with patients using life-sustaining ventilators should first consider whether the potential danger from the foam outweighs other risks.\nThe degrading foam, which is used to dampen the machines' sound, can turn into small, inhaled particles, irritating airways and potentially causing cancer, Philips said. Gasses released by the degrading foam may also be toxic or carry cancer risks.\nPhilips spokesman Steve Klink said the company was working with health authorities on a safe replacement for the foam, but the new material must first clear testing and regulatory hurdles.\n\"Philips aims to address all affected devices\" as soon as possible, the company said in a statement.\nIn April, Philips said first quarter core earnings surged 74% in the first quarter to 362 million euros ($438 million), compared with the same period a year earlier, on a 9% rise in comparable sales.\nShares closed at 46.38 euros on Friday, up 1.6% in the year to date.\n($1 = 0.8263 euros)","news_type":1},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185214328,"gmtCreate":1623652907864,"gmtModify":1634030606812,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Good info","listText":"Good info","text":"Good info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185214328","repostId":"1141995531","repostType":4,"repost":{"id":"1141995531","kind":"news","pubTimestamp":1623652578,"share":"https://www.laohu8.com/m/news/1141995531?lang=&edition=full","pubTime":"2021-06-14 14:36","market":"us","language":"en","title":"PayPal: One Of The Best Plays On The Secular Growth Trend Of Digital Payments","url":"https://stock-news.laohu8.com/highlight/detail?id=1141995531","media":"seekingalpha","summary":"Summary\n\nPayPal is a leading fintech company that benefits immensely from the secular growth trend i","content":"<p><b>Summary</b></p>\n<ul>\n <li>PayPal is a leading fintech company that benefits immensely from the secular growth trend in the digital payments industry.</li>\n <li>Its growth history is impressive and momentum is not showing any sign of slowing down, making its 2025 targets quite achievable.</li>\n <li>The premium valuation to Visa or Mastercard is justified and PayPal is now my largest holding in the digital payments theme.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa4976c13e5ffab4c5035b08d60831ed\" tg-width=\"768\" tg-height=\"512\"><span>JasonDoiy/iStock Unreleased via Getty Images</span></p>\n<p><b>PayPal</b>(PYPL) is a compelling long-term play on the secular growth trend of digital payments as the company’s growth path is likely to remain quite strong over the next few years.</p>\n<p><b>Company Profile</b></p>\n<p>PayPal Holdings Inc. is a leading fintech company that enables digital and mobile payments through its technology platform. Its major competitors are other payment technology companies, such as<b>Visa</b>(V),<b>Mastercard</b>(MA) or<b>Adyen</b>(OTCPK:ADYEY). It currently has a market capitalization of about $309 billion, a smaller value than MasterCard or Visa.</p>\n<p>PayPal’s core business is the offering of payment solutions to merchants and consumers, operating globally. At the end of 2020, it had about 377 million active accounts, of which some 348 million consumer accounts and 29 million merchant accounts, more than double the number of active accounts at the end of 2015.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f478cd622b0c634fd146fdf46bf0ef\" tg-width=\"747\" tg-height=\"432\"><span>Source: PayPal.</span></p>\n<p>The company’s revenue stream comes mainly from charging fees for some completed payment transactions, while generally it does not charge consumers to fund or withdraw money from their PayPal account. It also generates revenues from currency conversion and instant transfers from the PayPal or Venmo accounts to debit cards or bank accounts. For its merchant clients, it also offers access to certain credit products for small and medium-sized merchants, increasing its engagement its clients and providing finance for clients that possibly would not get loans from traditional banks or other lending providers.</p>\n<p><b>Secular Growth</b></p>\n<p>As I’ve analyzed in a previous article on “Visa: Despite Earnings Dip, Secular Growth Prospects Remain Strong,” the global payments industry has a very good growth track record and future growth prospects are quite strong.</p>\n<p>During the past few years, consumers and businesses have increasingly adopted new payment methods beyond cash and the rise of e-commerce has also been an important growth driver of digital payments across the globe. Revenues for the industry have grown roughly at 7% per year over recent years, to a total of just under $2 trillion in 2019, according to McKinsey data, and this growth is only expected to accelerate in the future as digital payments continue to increase their market share as a percentage of total banking revenues.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27b37a2ed30f39bff844ae07aa49ac5\" tg-width=\"372\" tg-height=\"395\"><span>Source: McKinsey.</span></p>\n<p>This background has been very supportive for PayPal’s growth prospects, as one of the leading companies in this industry. Indeed, PayPal’s revenues have increased at a compounded annual growth rate [CAGR] of 20.8% during the past five years, a much higher growth rate than the global payments industry and also above its largest competitors like Visa and MasterCard.</p>\n<p>Moreover, while recently the growth path of digital payments has changed due to the coronavirus pandemic, that has affected negatively the growth of the global payments industry, PayPal has remained on a strong growth path because its business is clearly more exposed to digital transactions rather than physical payments. This means that the pandemic has barely impacted its business, while it has been a significant setback for other companies, such as&nbsp;<b>American Express</b>&nbsp;(AXP) or MasterCard that are more exposed to cross-border transactions.</p>\n<p>Nevertheless, the Covid-19 seems to be positive for the long-term growth of the industry because digital payments became more adopted last year and people will likely use less cash for payment transactions in the future, accelerating even further the growth of digital payments across the world.</p>\n<p>Over the next few years, growth is expected to resume quite rapidly and should even be higher than in the recent past. According to Mordor Intelligence, the global digital payments industry is expected to have a revenue CAGR of 13.7% during 2021-26, which is almost double the growth in recent years. This clearly shows that digital payments is a secular growth industry, being a very good backdrop for the companies operating in this industry for years to come.</p>\n<p>Taking this environment into account, PayPal is clearly in a very good position to maintain a solid growth path for many years to come, being potentially one of the major winners of the global shift to digital payments and e-commerce.</p>\n<p>Taking this background into account, it is not surprising that PayPal has strong growth ambitions for the coming years, aiming to generate more than $50 billion in revenue by 2025 (more than double the 2020 revenues) both from growth of its existing business, higher customer engagement and new offerings that will increase PayPal’s total addressable market.</p>\n<p>PayPal expects to double the number of active accounts over the next five years and triple the volumes transacted, which seems to be achievable considering its growth history and the strong growth prospects of the global payments industry.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/828bae36490c031b69fcf87de3ef91a8\" tg-width=\"640\" tg-height=\"341\"><span>Source: PayPal.</span></p>\n<p>This means that $50 billion in revenue by 2025 represents CAGR of about 20% during 2020-25, showing that PayPal has very good growth prospects in coming years. Moreover, as the company expects to improve a little bit its business margins during this period, its earnings are expected to increase at CAGR of 22% over the next five years and generate more than $40 billion in free cash flow.</p>\n<p><b>Financial Overview</b></p>\n<p>Regarding its financial performance, PayPal has a very good track record with revenues and earnings growing quite rapidly over the past few years. Indeed, from 201 to 2020, PayPal’s revenues increased at a CAGR of around 20% and its earnings increased at CAGR of 31%, a very impressive achievement and much better than established peers like Visa and MasterCard.</p>\n<p>More recently, the company’s growth was not interrupted by the coronavirus as the secular growth trends of e-commerce and cash displacement accelerated with the pandemic, being a very strong tailwind for the company’s growth.</p>\n<p>In 2020, PayPal recorded record financial figures regarding its revenues, volumes, net new active accounts and earnings. Indeed, PayPal’s revenues increased by 20.8% YoY to $21.5 billion, a level that is very close to Visa’s annual revenues showing that PayPal has achieved a very large size despite being a much younger company. Beyond higher revenues, its business margins and free cash flow generation also improved, a very good performance compared to its peers that rely more on debit and credit card payments.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a6b1369e32917090ea7cdb92b9a2fe8a\" tg-width=\"772\" tg-height=\"359\"><span>Source: PayPal.</span></p>\n<p>This positive financial performance was justified by the shift to online shopping and transactions due to Covid-19, but also due to PayPal’s new offerings such as the option to buy and hold digital currencies during the last quarter of the year. Its net income amounted to $4.2 billion, an increase of 70% YoY, boosted by organic growth and gains on some investments and its free cash flow was about $5 billion, or 23% of revenue, which shows that PayPal has a very good cash flow generation capacity.</p>\n<p>During thefirst quarter of 2021, PayPal has maintained an impressive operating momentum with volumes up by 50% YoY and revenue up by 31% YoY. Active accounts grew by 21% to 392 million, while it added 14.5 million net new accounts during the quarter. Its operating margin improved to 27.7% (non-GAAP) and non-GAAP EPS grew by 84% YoY and free cash flow amounted to $1.54 billion or 25% of its quarterly revenue.</p>\n<p>For the full year 2021, its guidance was revised upwards with Q1 earnings and PayPal now expects to grow revenues to about $25.7 billion, which represents annual growth of about 20% in constant currencies, EPS growth around 21% YoY and about $6 billion in free cash flow.</p>\n<p>This clearly shows that PayPal’s growth momentum is not showing any sign of slowdown over the coming quarters, boding quite well to reach its 2025 targets probably ahead of schedule if it continues to grow at this pace.</p>\n<p>However, this is not currently expected from the sell-side, given that according toanalysts’ estimates, revenue growth is expected to be around 20-21% during the next 2-3 years and then slow down a little bit to less than 20% in 2024 and 2025. This is in-line with PayPal’s own targets, which means that there is some potential upside to estimates if it continues to execute well on its growth initiatives during the next few years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9ee830ca42c6ed20907df39e8c28786b\" tg-width=\"902\" tg-height=\"250\"><span>Source: SeekingAlpha.</span></p>\n<p>Regarding its capital allocation, PayPal’s has used its cash flow generation capacity to finance several acquisitions and repurchase its own shares, while capex spending has been relatively limited as expected for a technology company that operates digitally. Going forward, this strategy is not expected to change much as PayPal should continue to invest in fintech innovation through PayPal Ventures, while share buybacks will be the main way to return capital to shareholders even though the company may decide to start distributing dividends in the coming years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/530c58f1461ce1f7eefb7856a4ef2d05\" tg-width=\"563\" tg-height=\"318\"><span>Source: PayPal.</span></p>\n<p><b>Conclusion</b></p>\n<p>PayPal has a very good business and its growth prospects are very strong, both from industry tailwinds and its own growth initiatives. I think this is one of the best ways to play the secular growth trend of digital payments, as PayPal’s business model is completely focused on digital channels while its closest competitors Visa or Mastercard still rely significantly in physical transactions.</p>\n<p>This profile justifies PayPal’s premium valuation, considering that it is currentlytrading at about 57x forward earnings, while Visa and Mastercard are trading at between 42-47x earnings. Regarding my personal portfolio, I’ve recently rebalanced my positions and PayPal is now my largest holding on the digital payments theme, as I see this company as a very compelling long-term play in this industry.</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>PayPal: One Of The Best Plays On The Secular Growth Trend Of Digital Payments</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\">\nPayPal: One Of The Best Plays On The Secular Growth Trend Of Digital Payments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 14:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434455-paypal-best-play-on-secular-growth-trend-of-digital-payments><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nPayPal is a leading fintech company that benefits immensely from the secular growth trend in the digital payments industry.\nIts growth history is impressive and momentum is not showing any ...</p>\n\n<a href=\"https://seekingalpha.com/article/4434455-paypal-best-play-on-secular-growth-trend-of-digital-payments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://seekingalpha.com/article/4434455-paypal-best-play-on-secular-growth-trend-of-digital-payments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141995531","content_text":"Summary\n\nPayPal is a leading fintech company that benefits immensely from the secular growth trend in the digital payments industry.\nIts growth history is impressive and momentum is not showing any sign of slowing down, making its 2025 targets quite achievable.\nThe premium valuation to Visa or Mastercard is justified and PayPal is now my largest holding in the digital payments theme.\n\nJasonDoiy/iStock Unreleased via Getty Images\nPayPal(PYPL) is a compelling long-term play on the secular growth trend of digital payments as the company’s growth path is likely to remain quite strong over the next few years.\nCompany Profile\nPayPal Holdings Inc. is a leading fintech company that enables digital and mobile payments through its technology platform. Its major competitors are other payment technology companies, such asVisa(V),Mastercard(MA) orAdyen(OTCPK:ADYEY). It currently has a market capitalization of about $309 billion, a smaller value than MasterCard or Visa.\nPayPal’s core business is the offering of payment solutions to merchants and consumers, operating globally. At the end of 2020, it had about 377 million active accounts, of which some 348 million consumer accounts and 29 million merchant accounts, more than double the number of active accounts at the end of 2015.\nSource: PayPal.\nThe company’s revenue stream comes mainly from charging fees for some completed payment transactions, while generally it does not charge consumers to fund or withdraw money from their PayPal account. It also generates revenues from currency conversion and instant transfers from the PayPal or Venmo accounts to debit cards or bank accounts. For its merchant clients, it also offers access to certain credit products for small and medium-sized merchants, increasing its engagement its clients and providing finance for clients that possibly would not get loans from traditional banks or other lending providers.\nSecular Growth\nAs I’ve analyzed in a previous article on “Visa: Despite Earnings Dip, Secular Growth Prospects Remain Strong,” the global payments industry has a very good growth track record and future growth prospects are quite strong.\nDuring the past few years, consumers and businesses have increasingly adopted new payment methods beyond cash and the rise of e-commerce has also been an important growth driver of digital payments across the globe. Revenues for the industry have grown roughly at 7% per year over recent years, to a total of just under $2 trillion in 2019, according to McKinsey data, and this growth is only expected to accelerate in the future as digital payments continue to increase their market share as a percentage of total banking revenues.\nSource: McKinsey.\nThis background has been very supportive for PayPal’s growth prospects, as one of the leading companies in this industry. Indeed, PayPal’s revenues have increased at a compounded annual growth rate [CAGR] of 20.8% during the past five years, a much higher growth rate than the global payments industry and also above its largest competitors like Visa and MasterCard.\nMoreover, while recently the growth path of digital payments has changed due to the coronavirus pandemic, that has affected negatively the growth of the global payments industry, PayPal has remained on a strong growth path because its business is clearly more exposed to digital transactions rather than physical payments. This means that the pandemic has barely impacted its business, while it has been a significant setback for other companies, such as American Express (AXP) or MasterCard that are more exposed to cross-border transactions.\nNevertheless, the Covid-19 seems to be positive for the long-term growth of the industry because digital payments became more adopted last year and people will likely use less cash for payment transactions in the future, accelerating even further the growth of digital payments across the world.\nOver the next few years, growth is expected to resume quite rapidly and should even be higher than in the recent past. According to Mordor Intelligence, the global digital payments industry is expected to have a revenue CAGR of 13.7% during 2021-26, which is almost double the growth in recent years. This clearly shows that digital payments is a secular growth industry, being a very good backdrop for the companies operating in this industry for years to come.\nTaking this environment into account, PayPal is clearly in a very good position to maintain a solid growth path for many years to come, being potentially one of the major winners of the global shift to digital payments and e-commerce.\nTaking this background into account, it is not surprising that PayPal has strong growth ambitions for the coming years, aiming to generate more than $50 billion in revenue by 2025 (more than double the 2020 revenues) both from growth of its existing business, higher customer engagement and new offerings that will increase PayPal’s total addressable market.\nPayPal expects to double the number of active accounts over the next five years and triple the volumes transacted, which seems to be achievable considering its growth history and the strong growth prospects of the global payments industry.\nSource: PayPal.\nThis means that $50 billion in revenue by 2025 represents CAGR of about 20% during 2020-25, showing that PayPal has very good growth prospects in coming years. Moreover, as the company expects to improve a little bit its business margins during this period, its earnings are expected to increase at CAGR of 22% over the next five years and generate more than $40 billion in free cash flow.\nFinancial Overview\nRegarding its financial performance, PayPal has a very good track record with revenues and earnings growing quite rapidly over the past few years. Indeed, from 201 to 2020, PayPal’s revenues increased at a CAGR of around 20% and its earnings increased at CAGR of 31%, a very impressive achievement and much better than established peers like Visa and MasterCard.\nMore recently, the company’s growth was not interrupted by the coronavirus as the secular growth trends of e-commerce and cash displacement accelerated with the pandemic, being a very strong tailwind for the company’s growth.\nIn 2020, PayPal recorded record financial figures regarding its revenues, volumes, net new active accounts and earnings. Indeed, PayPal’s revenues increased by 20.8% YoY to $21.5 billion, a level that is very close to Visa’s annual revenues showing that PayPal has achieved a very large size despite being a much younger company. Beyond higher revenues, its business margins and free cash flow generation also improved, a very good performance compared to its peers that rely more on debit and credit card payments.\nSource: PayPal.\nThis positive financial performance was justified by the shift to online shopping and transactions due to Covid-19, but also due to PayPal’s new offerings such as the option to buy and hold digital currencies during the last quarter of the year. Its net income amounted to $4.2 billion, an increase of 70% YoY, boosted by organic growth and gains on some investments and its free cash flow was about $5 billion, or 23% of revenue, which shows that PayPal has a very good cash flow generation capacity.\nDuring thefirst quarter of 2021, PayPal has maintained an impressive operating momentum with volumes up by 50% YoY and revenue up by 31% YoY. Active accounts grew by 21% to 392 million, while it added 14.5 million net new accounts during the quarter. Its operating margin improved to 27.7% (non-GAAP) and non-GAAP EPS grew by 84% YoY and free cash flow amounted to $1.54 billion or 25% of its quarterly revenue.\nFor the full year 2021, its guidance was revised upwards with Q1 earnings and PayPal now expects to grow revenues to about $25.7 billion, which represents annual growth of about 20% in constant currencies, EPS growth around 21% YoY and about $6 billion in free cash flow.\nThis clearly shows that PayPal’s growth momentum is not showing any sign of slowdown over the coming quarters, boding quite well to reach its 2025 targets probably ahead of schedule if it continues to grow at this pace.\nHowever, this is not currently expected from the sell-side, given that according toanalysts’ estimates, revenue growth is expected to be around 20-21% during the next 2-3 years and then slow down a little bit to less than 20% in 2024 and 2025. This is in-line with PayPal’s own targets, which means that there is some potential upside to estimates if it continues to execute well on its growth initiatives during the next few years.\nSource: SeekingAlpha.\nRegarding its capital allocation, PayPal’s has used its cash flow generation capacity to finance several acquisitions and repurchase its own shares, while capex spending has been relatively limited as expected for a technology company that operates digitally. Going forward, this strategy is not expected to change much as PayPal should continue to invest in fintech innovation through PayPal Ventures, while share buybacks will be the main way to return capital to shareholders even though the company may decide to start distributing dividends in the coming years.\nSource: PayPal.\nConclusion\nPayPal has a very good business and its growth prospects are very strong, both from industry tailwinds and its own growth initiatives. I think this is one of the best ways to play the secular growth trend of digital payments, as PayPal’s business model is completely focused on digital channels while its closest competitors Visa or Mastercard still rely significantly in physical transactions.\nThis profile justifies PayPal’s premium valuation, considering that it is currentlytrading at about 57x forward earnings, while Visa and Mastercard are trading at between 42-47x earnings. Regarding my personal portfolio, I’ve recently rebalanced my positions and PayPal is now my largest holding on the digital payments theme, as I see this company as a very compelling long-term play in this industry.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185215445,"gmtCreate":1623652885087,"gmtModify":1634030607279,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"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/185215445","repostId":"1146430910","repostType":4,"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185215546,"gmtCreate":1623652860685,"gmtModify":1634030607401,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"I agree","listText":"I agree","text":"I agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185215546","repostId":"1165811803","repostType":4,"repost":{"id":"1165811803","kind":"news","pubTimestamp":1623632712,"share":"https://www.laohu8.com/m/news/1165811803?lang=&edition=full","pubTime":"2021-06-14 09:05","market":"us","language":"en","title":"4 Unshortable Stocks That Are Too Risky to Bet Against","url":"https://stock-news.laohu8.com/highlight/detail?id=1165811803","media":"InvestorPlace","summary":"If you are thinking about shorting one of these companies, you're doing something wrong. The markets are dealing with an army of investors who are after heavily shorted stocks. But there are also fundamentally strong names where initiating a short position can be risky. These are the so called unshortable stocks.From a fundamental perspective, Nvidia has been on a high growth trajectory. For the first quarter of 2022, the company reported revenue growth of 84% to $5.66 billion. Growth was health","content":"<p>If you are thinking about shorting one of these companies, you're doing something wrong</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/203e343ee38d5c182697edcd4932e483\" tg-width=\"1024\" tg-height=\"576\"><span>Source: Vladeep / Shutterstock.com</span></p>\n<p>The markets are dealing with an army of investors who are after heavily shorted stocks. But there are also fundamentally strong names where initiating a short position can be risky. These are the so called unshortable stocks.</p>\n<p>True,&nbsp;Short squeeze rallies have delivered multi-fold returns for investors.<b>AMC Entertainment</b>(NYSE:<b><u>AMC</u></b>) is the recent case of a short squeeze rally. However, this does not change the fact that some stocks are worth going short. It’s very likely that AMC stock will witness an equally sharp correction.</p>\n<p>That’s not the case with unshortable stocks.</p>\n<p>My focus is on four unshortable stocks where short interest as a percentage of free float is approximately 1%. Two of these stocks trade near all-time highs. The other two are in a consolidation mode and there seems to be a high probability of a breakout on the upside.</p>\n<p>The reasons for these stocks being unshortable are strong fundamentals, high growth and strong cash flows. Additionally, there are ample positive business growth catalysts on the horizon.</p>\n<p>Let’s take a deeper look into the reasons that make these stocks unshortable.</p>\n<ul>\n <li><b>Nvidia</b>(NASDAQ:<b><u>NVDA</u></b>)</li>\n <li><b>Target</b>(NYSE:<b><u>TGT</u></b>)</li>\n <li><b>Shopify</b>(NYSE:<b><u>SHOP</u></b>)</li>\n <li><b>Apple</b>(NASDAQ:<b><u>AAPL</u></b>)</li>\n</ul>\n<p><b>Nvidia (NVDA)</b></p>\n<p>NVDA stock is currently trading near 52-week highs. However, the short interest in the stock is just 1% of the free float. This is probably an indication of the point that NVDA stock is among the unshortable stocks.</p>\n<p>From a fundamental perspective, Nvidia has been on a high growth trajectory. For the first quarter of 2022, the company reported revenue growth of 84% to $5.66 billion. Growth was healthy in the gaming as well as data center segment.</p>\n<p>In addition, Nvidia reported&nbsp;operating cash flow of $1.9 billion for the quarter. This would imply an annualized operating cash flow of nearly $8 billion. The company has high financial flexibility to invest in innovation and pursue inorganic growth.</p>\n<p>In a recent news, Nvidia has asked&nbsp;Chinese regulators to approve the $40 billion acquisition&nbsp;of&nbsp;<b>Arm</b>. A possible approval in the coming quarters will ensure that the stock momentum remains positive.</p>\n<p>With focus on artificial intelligence, Nvidia has also made inroads in multiple industries. This includes AI chips and solutions for robotics, self-driving and healthcare, among others. Therefore, with multiple growth catalysts, NVDA stock remains attractive.</p>\n<p><b>Target (TGT)</b></p>\n<p>TGT stock is another name that I would include among unshortable stocks. The stock trades near all-time highs and looks good for further upside.</p>\n<p>UBS analyst Michael Lasser sees Target as “structurally improved as its strong positioning&nbsp;becomes even clearer in upcoming quarters.” Lasser has a price target of $265 for the stock.</p>\n<p>As the U.S. economy witnesses wider reopening, Target is positioned to benefit. According to Moody’s Analytics, Americans were holding&nbsp;$2.6 trillion in excess savings as of mid-April. The possibility of a post-pandemic consumption boom is likely to be good news for Target, among other retailers.</p>\n<p>Target has already been delivering stellar growth. For the first quarter, the company&nbsp;reported comparable sales growth of 22.9%&nbsp;on a year-on-year basis. Digital comparable sales growth was 50%.</p>\n<p>Clearly, Target is emerging from the pandemic with superior omni-channel capabilities. Initiatives such as order pick-up, drive-up and same-day shipment services are likely to ensure that comparable sales growth remains strong.</p>\n<p>From a financial perspective, Target reported cash flows of $1.1 billion for the quarter. With more than $4 billion in annualized cash flow visibility, dividend and share repurchase will continue.</p>\n<p>Overall, TGT stock looks attractive considering the growth momentum. With an impending spending boom, it might be best to avoid shorting the stock.</p>\n<p><b>Shopify (SHOP)</b></p>\n<p>SHOP stock seems to be trading at premium valuations. However, the stock has consolidated in the broad range of $1,000 to $1,200. Short interest is low and considering the company’s growth outlook, the stock is among the top unshortable stocks.</p>\n<p>For the first quarter, Shopify reported revenue growth of 110% on a year-over-year basis to $988.6 million. An important point to note is that&nbsp;monthly recurring revenue accelerated by 62% to $89.9 million. With sustained growth in monthly recurring revenue, the company is positioned for robust long-term cash flows.</p>\n<p>With the pandemic, e-commerce growth has accelerated globally. Shopify is likely to benefit from positive tailwinds in the coming years. It’s also worth noting that the company has&nbsp;expanded offerings for merchants. This includes Shopify Capital, Shopify Shipping and Shopify Plus. As merchants scale up, there is ample scope for revenue growth.</p>\n<p>As of March, Shopify reported $7.87 billion in cash and equivalents. As the company expands globally, there is ample financial flexibility to invest in platform upgrade and new merchant solutions. As an example, the company recently introduced Shopify POS offering to merchants.</p>\n<p>Overall, SHOP stock looks attractive with strong top-line growth and clear visibility for robust cash flows in the long-term.</p>\n<p><b>Apple (AAPL)</b></p>\n<p>AAPL stock is another name that too risky to bet against. The company has always surprised investors and it seems that the stock is positioned for a breakout after the current consolidation. With strong growth and a production innovation pipeline, it’s not surprising that short interest in AAPL stock is less than 1% of the free float.</p>\n<p>As I write,<i>Reuters</i>&nbsp;reports that Apple is in&nbsp;talks with Chinese manufacturers for a car battery factory&nbsp;in the U.S. The company seems to be gradually working towards its first electric vehicle. That’s likely to keep the markets excited.</p>\n<p>Apple has also witnessed&nbsp;strong growth in the wearables and services segment. Besides strong top-line growth, revenue is more diversified. At the same time, iPhone sales are likely to remain robust with 5G being a key growth driver.</p>\n<p>Apple’s cash glut also implies sustained value creation through share repurchase and possibly higher dividends. Of course, the cash buffer gives the company ample headroom to invest in product innovation and possible acquisitions.</p>\n<p>Overall, as strong growth sustains, it’s too risky to short AAPL stock. On the contrary, current levels look attractive for considering some long-term exposure.</p>","source":"lsy1606302653667","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>4 Unshortable Stocks That Are Too Risky to Bet Against</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\">\n4 Unshortable Stocks That Are Too Risky to Bet Against\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/06/4-unshortable-stocks-that-are-too-risky-to-bet-against/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you are thinking about shorting one of these companies, you're doing something wrong\nSource: Vladeep / Shutterstock.com\nThe markets are dealing with an army of investors who are after heavily ...</p>\n\n<a href=\"https://investorplace.com/2021/06/4-unshortable-stocks-that-are-too-risky-to-bet-against/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TGT":"塔吉特","SHOP":"Shopify Inc","AAPL":"苹果","NVDA":"英伟达"},"source_url":"https://investorplace.com/2021/06/4-unshortable-stocks-that-are-too-risky-to-bet-against/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165811803","content_text":"If you are thinking about shorting one of these companies, you're doing something wrong\nSource: Vladeep / Shutterstock.com\nThe markets are dealing with an army of investors who are after heavily shorted stocks. But there are also fundamentally strong names where initiating a short position can be risky. These are the so called unshortable stocks.\nTrue, Short squeeze rallies have delivered multi-fold returns for investors.AMC Entertainment(NYSE:AMC) is the recent case of a short squeeze rally. However, this does not change the fact that some stocks are worth going short. It’s very likely that AMC stock will witness an equally sharp correction.\nThat’s not the case with unshortable stocks.\nMy focus is on four unshortable stocks where short interest as a percentage of free float is approximately 1%. Two of these stocks trade near all-time highs. The other two are in a consolidation mode and there seems to be a high probability of a breakout on the upside.\nThe reasons for these stocks being unshortable are strong fundamentals, high growth and strong cash flows. Additionally, there are ample positive business growth catalysts on the horizon.\nLet’s take a deeper look into the reasons that make these stocks unshortable.\n\nNvidia(NASDAQ:NVDA)\nTarget(NYSE:TGT)\nShopify(NYSE:SHOP)\nApple(NASDAQ:AAPL)\n\nNvidia (NVDA)\nNVDA stock is currently trading near 52-week highs. However, the short interest in the stock is just 1% of the free float. This is probably an indication of the point that NVDA stock is among the unshortable stocks.\nFrom a fundamental perspective, Nvidia has been on a high growth trajectory. For the first quarter of 2022, the company reported revenue growth of 84% to $5.66 billion. Growth was healthy in the gaming as well as data center segment.\nIn addition, Nvidia reported operating cash flow of $1.9 billion for the quarter. This would imply an annualized operating cash flow of nearly $8 billion. The company has high financial flexibility to invest in innovation and pursue inorganic growth.\nIn a recent news, Nvidia has asked Chinese regulators to approve the $40 billion acquisition of Arm. A possible approval in the coming quarters will ensure that the stock momentum remains positive.\nWith focus on artificial intelligence, Nvidia has also made inroads in multiple industries. This includes AI chips and solutions for robotics, self-driving and healthcare, among others. Therefore, with multiple growth catalysts, NVDA stock remains attractive.\nTarget (TGT)\nTGT stock is another name that I would include among unshortable stocks. The stock trades near all-time highs and looks good for further upside.\nUBS analyst Michael Lasser sees Target as “structurally improved as its strong positioning becomes even clearer in upcoming quarters.” Lasser has a price target of $265 for the stock.\nAs the U.S. economy witnesses wider reopening, Target is positioned to benefit. According to Moody’s Analytics, Americans were holding $2.6 trillion in excess savings as of mid-April. The possibility of a post-pandemic consumption boom is likely to be good news for Target, among other retailers.\nTarget has already been delivering stellar growth. For the first quarter, the company reported comparable sales growth of 22.9% on a year-on-year basis. Digital comparable sales growth was 50%.\nClearly, Target is emerging from the pandemic with superior omni-channel capabilities. Initiatives such as order pick-up, drive-up and same-day shipment services are likely to ensure that comparable sales growth remains strong.\nFrom a financial perspective, Target reported cash flows of $1.1 billion for the quarter. With more than $4 billion in annualized cash flow visibility, dividend and share repurchase will continue.\nOverall, TGT stock looks attractive considering the growth momentum. With an impending spending boom, it might be best to avoid shorting the stock.\nShopify (SHOP)\nSHOP stock seems to be trading at premium valuations. However, the stock has consolidated in the broad range of $1,000 to $1,200. Short interest is low and considering the company’s growth outlook, the stock is among the top unshortable stocks.\nFor the first quarter, Shopify reported revenue growth of 110% on a year-over-year basis to $988.6 million. An important point to note is that monthly recurring revenue accelerated by 62% to $89.9 million. With sustained growth in monthly recurring revenue, the company is positioned for robust long-term cash flows.\nWith the pandemic, e-commerce growth has accelerated globally. Shopify is likely to benefit from positive tailwinds in the coming years. It’s also worth noting that the company has expanded offerings for merchants. This includes Shopify Capital, Shopify Shipping and Shopify Plus. As merchants scale up, there is ample scope for revenue growth.\nAs of March, Shopify reported $7.87 billion in cash and equivalents. As the company expands globally, there is ample financial flexibility to invest in platform upgrade and new merchant solutions. As an example, the company recently introduced Shopify POS offering to merchants.\nOverall, SHOP stock looks attractive with strong top-line growth and clear visibility for robust cash flows in the long-term.\nApple (AAPL)\nAAPL stock is another name that too risky to bet against. The company has always surprised investors and it seems that the stock is positioned for a breakout after the current consolidation. With strong growth and a production innovation pipeline, it’s not surprising that short interest in AAPL stock is less than 1% of the free float.\nAs I write,Reuters reports that Apple is in talks with Chinese manufacturers for a car battery factory in the U.S. The company seems to be gradually working towards its first electric vehicle. That’s likely to keep the markets excited.\nApple has also witnessed strong growth in the wearables and services segment. Besides strong top-line growth, revenue is more diversified. At the same time, iPhone sales are likely to remain robust with 5G being a key growth driver.\nApple’s cash glut also implies sustained value creation through share repurchase and possibly higher dividends. Of course, the cash buffer gives the company ample headroom to invest in product innovation and possible acquisitions.\nOverall, as strong growth sustains, it’s too risky to short AAPL stock. On the contrary, current levels look attractive for considering some long-term exposure.","news_type":1},"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186974421,"gmtCreate":1623471511163,"gmtModify":1634032682652,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186974421","repostId":"2142744202","repostType":4,"repost":{"id":"2142744202","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623452760,"share":"https://www.laohu8.com/m/news/2142744202?lang=&edition=full","pubTime":"2021-06-12 07:06","market":"hk","language":"en","title":"How oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy","url":"https://stock-news.laohu8.com/highlight/detail?id=2142744202","media":"Dow Jones","summary":"If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n\nOi","content":"<blockquote>\n If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n</blockquote>\n<p>Oil companies often find religion in the wake of a boom-and-bust cycle, including after last year when crude prices crashed into negative territory for the first time on record.</p>\n<p>But with oil prices recently back near $70 a barrel, and some analysts speculating on the return to $100 during the COVID recovery, investors fear wildcatting and other risky financial behavior by energy companies will make a comeback.</p>\n<p>\"We lost a lot of our weakest companies,\" Andrew Feltus, co-director of high-yield at Amundi US, said of the ripple effects of oil futures going negative in April 2020 as demand collapsed with the first waves of COVID outbreaks and oil-producing giants Saudi Arabia and Russia waged an ugly price war.</p>\n<p>\"No <a href=\"https://laohu8.com/S/AONE\">one</a> can exist in that type of situation for long,\" Feltus told MarketWatch. \"If you don't have enough money to survive, you are gone.\"</p>\n<p>Company executives took those lessons for the U.S. energy complex to heart after pandemic shutdowns depressed oil demand and, for a period, led to higher borrowing costs in the sector. It also led to greater prudence.</p>\n<p>But there's no telling how long the latest stretch of \"good\" energy company behavior -- actions preferred by their risk-wary lenders and investors -- will last. That's particularly true if prices shoot dramatically higher and breach $100 a barrel.</p>\n<p>As Feltus said, \"$50 oil is the price we want. $70 is just gravy. With $100 oil, they will be dancing in the streets of Dallas.\"</p>\n<p>Prices for U.S. benchmark West Texas Intermediate crude for July delivery were near $70.75 a barrel on the New York Mercantile Exchange on Friday and headed for a weekly rise of about 1.7%.</p>\n<p>This chart tracks the plunge and recovery of WTI since April 2020, with the red line highlighting the stretch in which prices stayed below $40 a barrel.</p>\n<p><b>Keeping up?</b></p>\n<p>Prices saw a boost Friday from the International Energy Agency, which said global oil demand would return to pre-COVID-19 pandemic levels by the end of next year.</p>\n<p>IEA also forecast demand to reach 100.6 million barrels a day by the end of 2022, while indicating that producers will need to boost output to keep up with demand.</p>\n<p>The changing landscape for oil, including the increased focus by investors and the Biden administration on encouraging more environmentally sustainable practices, comes as a U.S. rig count has hovered at about half of pre-COVID levels, said Steve Repoff, portfolio manager at GW&amp;K Investment.</p>\n<p>Read:Climate-change pressure builds on Big Oil after activist wins Exxon board seats, court ruling hits Shell</p>\n<p>But that's not without its own set of concerns as vaccinations in the U.S. increase, demand for oil climbs and the economy opens more broadly, including over the summer. And the post-COVID travel season could turn costly for drivers.</p>\n<p>\"It seems these companies, for now, have demonstrated capital discipline, in a sector notorious for being unable to display capital discipline,\" Repoff told MarketWatch.</p>\n<p>\"But if we see demand of 100 million barrels a day return, that feels very ominous to me,\" he said, adding that it's unclear if U.S. producers will struggle to ramp up production.</p>\n<p>\"What if all the best shale, in aggregate, has been drilled already?\" Repoff said, while explaining how higher oil prices can be good for the oil industry, but also deflationary, even as the Federal Reserve expects the cost of living in America to overshoot its 2% inflation target for awhile during the recovery.</p>\n<p>\"When applied to the broader economy, it's effectively a tax on businesses and consumers, and at the systemwide level is ultimately deflationary,\" Repoff said of booming oil prices.</p>\n<p><b>$100 oil is a mixed blessing</b></p>\n<p>It took no time for COVID shutdowns to rattle the booming U.S. high-yield bond market last year, with defaults quickly jumping to a 10-year high of almost 5% and helping prompt the Fed to launch its first program ever of buying up corporate debt.</p>\n<p>Recently, as the sector has recovered, including with yields on the overall ICE BofA U.S. High Yield Index plunging near all-time lows of 4.1% , the Fed said it would sell its remaining corporate bond exposure.</p>\n<p>As a result, the so-called \"junk-bond\" market ended up with its highest-quality mix of companies by credit rating in at least a decade, but perhaps even 20 to 30 years, according to Feltus at Amundi, even while energy remains the sector's biggest exposure at about 13% of its benchmark high-yield index. That compares with a roughly 3% slice for energy in the S&amp;P 500 index, leaving investors in it grappling with swings in exposure.</p>\n<p>While energy has long been a key part of the U.S. high-yield market, oil booms haven't always been great over the long run for bond investors who help finance the sector.</p>\n<p>\"History says it depends on what else is going on in the market,\" said Marty Fridson, chief investment officer at Lehmann Livian Fridson Advisors, particularly when oil prices rise and fall around times of economic crisis.</p>\n<p>Starting in the summer of 2007, oil prices quickly advanced over eight months from $70.68 on June 29 to $101.84 on Feb. 29, 2008. But when Fridson looked at how the energy component fared over that stretch, it outperformed the ICE BofA US High Yield Index, returning 3.88% compared to negative 3.32%.</p>\n<p>Then, in the more protracted recovery phase, oil went from $70.61 on Sept. 30, 2009, to $96.07 on Feb. 28, 2011, while energy underperformed the index, 23.57% to 26.38%.</p>\n<p>Amundi's Feltus also pointed out that companies \"got religion for like six to 12 months of discipline,\" after each recent oil bust. \"This time breaks the record. But we can't let up the pressure.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy\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/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-12 07:06</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n</blockquote>\n<p>Oil companies often find religion in the wake of a boom-and-bust cycle, including after last year when crude prices crashed into negative territory for the first time on record.</p>\n<p>But with oil prices recently back near $70 a barrel, and some analysts speculating on the return to $100 during the COVID recovery, investors fear wildcatting and other risky financial behavior by energy companies will make a comeback.</p>\n<p>\"We lost a lot of our weakest companies,\" Andrew Feltus, co-director of high-yield at Amundi US, said of the ripple effects of oil futures going negative in April 2020 as demand collapsed with the first waves of COVID outbreaks and oil-producing giants Saudi Arabia and Russia waged an ugly price war.</p>\n<p>\"No <a href=\"https://laohu8.com/S/AONE\">one</a> can exist in that type of situation for long,\" Feltus told MarketWatch. \"If you don't have enough money to survive, you are gone.\"</p>\n<p>Company executives took those lessons for the U.S. energy complex to heart after pandemic shutdowns depressed oil demand and, for a period, led to higher borrowing costs in the sector. It also led to greater prudence.</p>\n<p>But there's no telling how long the latest stretch of \"good\" energy company behavior -- actions preferred by their risk-wary lenders and investors -- will last. That's particularly true if prices shoot dramatically higher and breach $100 a barrel.</p>\n<p>As Feltus said, \"$50 oil is the price we want. $70 is just gravy. With $100 oil, they will be dancing in the streets of Dallas.\"</p>\n<p>Prices for U.S. benchmark West Texas Intermediate crude for July delivery were near $70.75 a barrel on the New York Mercantile Exchange on Friday and headed for a weekly rise of about 1.7%.</p>\n<p>This chart tracks the plunge and recovery of WTI since April 2020, with the red line highlighting the stretch in which prices stayed below $40 a barrel.</p>\n<p><b>Keeping up?</b></p>\n<p>Prices saw a boost Friday from the International Energy Agency, which said global oil demand would return to pre-COVID-19 pandemic levels by the end of next year.</p>\n<p>IEA also forecast demand to reach 100.6 million barrels a day by the end of 2022, while indicating that producers will need to boost output to keep up with demand.</p>\n<p>The changing landscape for oil, including the increased focus by investors and the Biden administration on encouraging more environmentally sustainable practices, comes as a U.S. rig count has hovered at about half of pre-COVID levels, said Steve Repoff, portfolio manager at GW&amp;K Investment.</p>\n<p>Read:Climate-change pressure builds on Big Oil after activist wins Exxon board seats, court ruling hits Shell</p>\n<p>But that's not without its own set of concerns as vaccinations in the U.S. increase, demand for oil climbs and the economy opens more broadly, including over the summer. And the post-COVID travel season could turn costly for drivers.</p>\n<p>\"It seems these companies, for now, have demonstrated capital discipline, in a sector notorious for being unable to display capital discipline,\" Repoff told MarketWatch.</p>\n<p>\"But if we see demand of 100 million barrels a day return, that feels very ominous to me,\" he said, adding that it's unclear if U.S. producers will struggle to ramp up production.</p>\n<p>\"What if all the best shale, in aggregate, has been drilled already?\" Repoff said, while explaining how higher oil prices can be good for the oil industry, but also deflationary, even as the Federal Reserve expects the cost of living in America to overshoot its 2% inflation target for awhile during the recovery.</p>\n<p>\"When applied to the broader economy, it's effectively a tax on businesses and consumers, and at the systemwide level is ultimately deflationary,\" Repoff said of booming oil prices.</p>\n<p><b>$100 oil is a mixed blessing</b></p>\n<p>It took no time for COVID shutdowns to rattle the booming U.S. high-yield bond market last year, with defaults quickly jumping to a 10-year high of almost 5% and helping prompt the Fed to launch its first program ever of buying up corporate debt.</p>\n<p>Recently, as the sector has recovered, including with yields on the overall ICE BofA U.S. High Yield Index plunging near all-time lows of 4.1% , the Fed said it would sell its remaining corporate bond exposure.</p>\n<p>As a result, the so-called \"junk-bond\" market ended up with its highest-quality mix of companies by credit rating in at least a decade, but perhaps even 20 to 30 years, according to Feltus at Amundi, even while energy remains the sector's biggest exposure at about 13% of its benchmark high-yield index. That compares with a roughly 3% slice for energy in the S&amp;P 500 index, leaving investors in it grappling with swings in exposure.</p>\n<p>While energy has long been a key part of the U.S. high-yield market, oil booms haven't always been great over the long run for bond investors who help finance the sector.</p>\n<p>\"History says it depends on what else is going on in the market,\" said Marty Fridson, chief investment officer at Lehmann Livian Fridson Advisors, particularly when oil prices rise and fall around times of economic crisis.</p>\n<p>Starting in the summer of 2007, oil prices quickly advanced over eight months from $70.68 on June 29 to $101.84 on Feb. 29, 2008. But when Fridson looked at how the energy component fared over that stretch, it outperformed the ICE BofA US High Yield Index, returning 3.88% compared to negative 3.32%.</p>\n<p>Then, in the more protracted recovery phase, oil went from $70.61 on Sept. 30, 2009, to $96.07 on Feb. 28, 2011, while energy underperformed the index, 23.57% to 26.38%.</p>\n<p>Amundi's Feltus also pointed out that companies \"got religion for like six to 12 months of discipline,\" after each recent oil bust. \"This time breaks the record. But we can't let up the pressure.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142744202","content_text":"If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n\nOil companies often find religion in the wake of a boom-and-bust cycle, including after last year when crude prices crashed into negative territory for the first time on record.\nBut with oil prices recently back near $70 a barrel, and some analysts speculating on the return to $100 during the COVID recovery, investors fear wildcatting and other risky financial behavior by energy companies will make a comeback.\n\"We lost a lot of our weakest companies,\" Andrew Feltus, co-director of high-yield at Amundi US, said of the ripple effects of oil futures going negative in April 2020 as demand collapsed with the first waves of COVID outbreaks and oil-producing giants Saudi Arabia and Russia waged an ugly price war.\n\"No one can exist in that type of situation for long,\" Feltus told MarketWatch. \"If you don't have enough money to survive, you are gone.\"\nCompany executives took those lessons for the U.S. energy complex to heart after pandemic shutdowns depressed oil demand and, for a period, led to higher borrowing costs in the sector. It also led to greater prudence.\nBut there's no telling how long the latest stretch of \"good\" energy company behavior -- actions preferred by their risk-wary lenders and investors -- will last. That's particularly true if prices shoot dramatically higher and breach $100 a barrel.\nAs Feltus said, \"$50 oil is the price we want. $70 is just gravy. With $100 oil, they will be dancing in the streets of Dallas.\"\nPrices for U.S. benchmark West Texas Intermediate crude for July delivery were near $70.75 a barrel on the New York Mercantile Exchange on Friday and headed for a weekly rise of about 1.7%.\nThis chart tracks the plunge and recovery of WTI since April 2020, with the red line highlighting the stretch in which prices stayed below $40 a barrel.\nKeeping up?\nPrices saw a boost Friday from the International Energy Agency, which said global oil demand would return to pre-COVID-19 pandemic levels by the end of next year.\nIEA also forecast demand to reach 100.6 million barrels a day by the end of 2022, while indicating that producers will need to boost output to keep up with demand.\nThe changing landscape for oil, including the increased focus by investors and the Biden administration on encouraging more environmentally sustainable practices, comes as a U.S. rig count has hovered at about half of pre-COVID levels, said Steve Repoff, portfolio manager at GW&K Investment.\nRead:Climate-change pressure builds on Big Oil after activist wins Exxon board seats, court ruling hits Shell\nBut that's not without its own set of concerns as vaccinations in the U.S. increase, demand for oil climbs and the economy opens more broadly, including over the summer. And the post-COVID travel season could turn costly for drivers.\n\"It seems these companies, for now, have demonstrated capital discipline, in a sector notorious for being unable to display capital discipline,\" Repoff told MarketWatch.\n\"But if we see demand of 100 million barrels a day return, that feels very ominous to me,\" he said, adding that it's unclear if U.S. producers will struggle to ramp up production.\n\"What if all the best shale, in aggregate, has been drilled already?\" Repoff said, while explaining how higher oil prices can be good for the oil industry, but also deflationary, even as the Federal Reserve expects the cost of living in America to overshoot its 2% inflation target for awhile during the recovery.\n\"When applied to the broader economy, it's effectively a tax on businesses and consumers, and at the systemwide level is ultimately deflationary,\" Repoff said of booming oil prices.\n$100 oil is a mixed blessing\nIt took no time for COVID shutdowns to rattle the booming U.S. high-yield bond market last year, with defaults quickly jumping to a 10-year high of almost 5% and helping prompt the Fed to launch its first program ever of buying up corporate debt.\nRecently, as the sector has recovered, including with yields on the overall ICE BofA U.S. High Yield Index plunging near all-time lows of 4.1% , the Fed said it would sell its remaining corporate bond exposure.\nAs a result, the so-called \"junk-bond\" market ended up with its highest-quality mix of companies by credit rating in at least a decade, but perhaps even 20 to 30 years, according to Feltus at Amundi, even while energy remains the sector's biggest exposure at about 13% of its benchmark high-yield index. That compares with a roughly 3% slice for energy in the S&P 500 index, leaving investors in it grappling with swings in exposure.\nWhile energy has long been a key part of the U.S. high-yield market, oil booms haven't always been great over the long run for bond investors who help finance the sector.\n\"History says it depends on what else is going on in the market,\" said Marty Fridson, chief investment officer at Lehmann Livian Fridson Advisors, particularly when oil prices rise and fall around times of economic crisis.\nStarting in the summer of 2007, oil prices quickly advanced over eight months from $70.68 on June 29 to $101.84 on Feb. 29, 2008. But when Fridson looked at how the energy component fared over that stretch, it outperformed the ICE BofA US High Yield Index, returning 3.88% compared to negative 3.32%.\nThen, in the more protracted recovery phase, oil went from $70.61 on Sept. 30, 2009, to $96.07 on Feb. 28, 2011, while energy underperformed the index, 23.57% to 26.38%.\nAmundi's Feltus also pointed out that companies \"got religion for like six to 12 months of discipline,\" after each recent oil bust. \"This time breaks the record. But we can't let up the pressure.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":224,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186978096,"gmtCreate":1623471276015,"gmtModify":1634032686910,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186978096","repostId":"2142202662","repostType":4,"repost":{"id":"2142202662","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623445218,"share":"https://www.laohu8.com/m/news/2142202662?lang=&edition=full","pubTime":"2021-06-12 05:00","market":"us","language":"en","title":"G7 leaders will endorse proposed 15% global corporate minimum tax -White House","url":"https://stock-news.laohu8.com/highlight/detail?id=2142202662","media":"Reuters","summary":"WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden'","content":"<p>WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> on Friday.</p>\n<p>The U.S. Treasury in May proposed a global minimum corporate tax of at least 15% to try to end a downward spiral of corporate tax rates and deter multinational companies from shifting profits to tax-haven countries.</p>\n<p>(Reporting by Eric Beech; Editing by Mohammad Zargham)</p>\n<p>((eric.beech@thomsonreuters.com; 202-898-8322; Reuters Messaging: eric.beech.reuters.com@reuters.net))</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>G7 leaders will endorse proposed 15% global corporate minimum tax -White House</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\">\nG7 leaders will endorse proposed 15% global corporate minimum tax -White House\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 05:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> on Friday.</p>\n<p>The U.S. Treasury in May proposed a global minimum corporate tax of at least 15% to try to end a downward spiral of corporate tax rates and deter multinational companies from shifting profits to tax-haven countries.</p>\n<p>(Reporting by Eric Beech; Editing by Mohammad Zargham)</p>\n<p>((eric.beech@thomsonreuters.com; 202-898-8322; Reuters Messaging: eric.beech.reuters.com@reuters.net))</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142202662","content_text":"WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on Twitter on Friday.\nThe U.S. Treasury in May proposed a global minimum corporate tax of at least 15% to try to end a downward spiral of corporate tax rates and deter multinational companies from shifting profits to tax-haven countries.\n(Reporting by Eric Beech; Editing by Mohammad Zargham)\n((eric.beech@thomsonreuters.com; 202-898-8322; Reuters Messaging: eric.beech.reuters.com@reuters.net))","news_type":1},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186971956,"gmtCreate":1623471250975,"gmtModify":1634032687856,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Good info","listText":"Good info","text":"Good info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186971956","repostId":"1177806573","repostType":4,"repost":{"id":"1177806573","kind":"news","pubTimestamp":1623452856,"share":"https://www.laohu8.com/m/news/1177806573?lang=&edition=full","pubTime":"2021-06-12 07:07","market":"us","language":"en","title":"As America reopens, businesses—from airlines to arenas—see an uptick in bad behavior","url":"https://stock-news.laohu8.com/highlight/detail?id=1177806573","media":"cnbc","summary":"KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in viol","content":"<div>\n<p>KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in violence during flights.\nRowdy NBA fans involved in recent incidents have been banned from arenas, some ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.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>As America reopens, businesses—from airlines to arenas—see an uptick in bad behavior</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\">\nAs America reopens, businesses—from airlines to arenas—see an uptick in bad behavior\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in violence during flights.\nRowdy NBA fans involved in recent incidents have been banned from arenas, some ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1177806573","content_text":"KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in violence during flights.\nRowdy NBA fans involved in recent incidents have been banned from arenas, some even arrested.\nTarget pulled back on selling sports trading cards after a violent dispute.\n\nCrime’s up. Tempers are up.\nAcross the United States, businesses are grappling with an astonishing rise in what can only be called “people behaving badly.”\nRetail workers have been subjected to horrifying attacks based on their race, gender identity or disability. Flight attendants have been verbally — and occasionally physically — assaulted. Aggressive driving has led to road rage, with deadly consequences. Shoppers are brawling in the aisles.\nExperts are pointing to soaring stress levels as the trigger for the rise in these types of incidents.\nThe not-so-friendly skies\nIn May, aflight attendantforSouthwest Airlineshadtwo teeth knocked out by a furious passenger,according to law enforcement who arrested the woman in San Diego. It was just one of the latest examples as airlines struggle with an unprecedented onslaught of confrontations.\n“We can say with confidence that the number of reports we’ve received during the past several months are significantly higher than the numbers we’ve seen in the past,” said Ian Gregor, a spokesman for the Federal Aviation Administration.\nThe FAA tracks incidentswith problem passengers and says issues surrounding face masks have been a contributing factor.\nUnion reps have described the situation as an “epidemic of aggression and assault.”\nAlcohol also can be a factor. Both Southwest andAmerican Airlineshave decidednot to resume in-flight alcohol salesright now because of the unruly behavior.\nIndefinite bans for NBA fans\nNBA fans returning to arenas is a welcome sight for the league, which was reportedly$1.5 billion short of revenue expectationslast season as the pandemic resulted in lost ticket sales. Yet, the return of fans has brought a host of new problems.\nFor example, in Boston, a 21-year-old Celtics fan wascharged with assault and batteryby means of a dangerous weapon, after heaving a water bottle at Brooklyn Nets star Kyrie Irving as he left the court at TD Garden.\nIn New York, Atlanta Hawks guardTrae Young got spit onduring a playoff game against the Knicks at Madison Square Garden. And Washington Wizards starRussell Westbrookgot popcorn dumped on him by a fan as he left the court with an injury.\n“To be completely honest, this s--- is getting out of hand. ... The amount of disrespect, the amount of fans just doing whatever the f--- they want to do ... it’s just out of pocket,” Westbrook said in a postgame press conference.\nThe league issueda statementon the recent behavior and made changes to its fan code of conduct as a result.\n“The return of more NBA fans to our arenas has brought great excitement and energy to the start of the playoffs, but it is critical that we all show respect for players, officials and our fellow fans,” the NBA said.\nMany of the teams impacted are not tolerating the bad behavior,placing indefinite bans on rude fansattending future games.\n“Something’s gonna happen to the wrong person and it’s not gonna be good,” warned Portland star Damian Lillard.\nRetailers team up\nIt’s not just sports stadiums and arenas. The retail industry is also seeing an uptick in bad behavior, often targeted toward employees. According to Emily May, co-founder and executive director of the nonprofitHollaback!, retailers are seeing an alarming rise in discrimination where floor staff are being targeted for who they are when enforcing safety measures.\n“Given the rise in hate violence — which is at an all-time high — frontline workers are more vulnerable than ever,” she said in a statement.\nIt’s gotten so bad that at least a dozen retailers includingGap,Dick’s Sporting Goodsand Sephora have teamed up to collaborate on a campaign with the nonprofitOpen to All.\n“We are trying to create a movement where everyone comes together around the values of inclusion and safety, where we all can be safe and accepted and belong for who we are,” said director Calla Devlin Rongerude.\n“We haven’t been in crowds, we haven’t negotiated spaces with a lot of other people for quite a while. I think we’re out of practice with how to be human with each other,” she added.\nAs part of the campaign, the participating retailers will have access to a toolkit and other resources to support front-line workers.\nGrown men fighting over Pokemon cards\nAs theresale value of Pokemon and sports cards has skyrocketedduring the pandemic, retailers such asTargetandWalmarthave seen firsthand the impact: grown men getting in physical altercations over these cards.\nLast month, a 35-year-old manpulled a gunwhen he was attacked by a group of men in a trading-card related fight. It forced Target to temporarily pull the trading cards from its stores.\n“The safety of our guests and team members is our top priority,” Target said in a statement.\nThe retailer said Pokemon cards have since returned to the store but customers are subject to strict purchase limits of two packs per guest. The sale of MLB, NFL and NBA trading cards is still limited to Target’s website.\nRemember ‘the Golden Rule’\nWhether it’s aggressive driving or tempers on full display in restaurants, gas stations or Little League games, the bad behavior is caused by a confluence of factors, according to Thomas Plante, a psychology professor at the University of Santa Clara.\n“We’ve got a tsunami of mental health issues out there, with anxiety and depression,” Plante said, adding that our collective stress levels have never been higher.\nPeople are juggling multiple stressors, he said. Among them: the pandemic, death, illness, job loss, homeschooling kids, isolation and other challenges. That frustration can lead to aggression.\nThere’s also “observational learning,” Plante said, explaining that when people see bad behavior all around them, even by so-called role models, they are more likely to repeat it.\n“People model behavior of others, especially highly valued models, like ... well-known politicians,” Plante said. “People look at how they behave, which has been pretty bad, and they go and do likewise.”\nWhat will reverse the trend? Plante’s suggestion sounds like something one might hear from the pulpit or a parent: Treat others the way you want to be treated.\n“People have kind of gotten out of practice about how to behave in public, and how to behave in a polite, civil society,” Plante said.\nThe Golden Rule can help us get back on track.","news_type":1},"isVote":1,"tweetType":1,"viewCount":677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186973612,"gmtCreate":1623471224536,"gmtModify":1634032688539,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Hodl","listText":"Hodl","text":"Hodl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/186973612","repostId":"1102961449","repostType":4,"repost":{"id":"1102961449","kind":"news","pubTimestamp":1623469034,"share":"https://www.laohu8.com/m/news/1102961449?lang=&edition=full","pubTime":"2021-06-12 11:37","market":"us","language":"en","title":"Jim Cramer: Be patient with bitcoin, approach the S&P with caution","url":"https://stock-news.laohu8.com/highlight/detail?id=1102961449","media":"cnbc","summary":"KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S","content":"<div>\n<p>KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S&P 500.\n“The charts, as interpreted by Tom DeMark, suggest that Bitcoin might take another month to ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.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>Jim Cramer: Be patient with bitcoin, approach the S&P with caution</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\">\nJim Cramer: Be patient with bitcoin, approach the S&P with caution\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S&P 500.\n“The charts, as interpreted by Tom DeMark, suggest that Bitcoin might take another month to ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1102961449","content_text":"KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S&P 500.\n“The charts, as interpreted by Tom DeMark, suggest that Bitcoin might take another month to bottom, while the S&P 500 could peak as soon as next week,” he said on “Mad Money.′\n“Considering Tom’s track record, that’s a good reason to be patient with bitcoin and approach the S&P with some caution,” he said.\n\nCNBC’s Jim Cramer is advising that investors who are searching for entry and exit points keep a close eye on both stock and cryptocurrency trades in the coming weeks.\nThe “Mad Money” host on Friday reviewed chart analysis from Tom DeMark, the founder and head of DeMark Analytics.\n“The charts, as interpreted by Tom DeMark, suggest thatbitcoinmight take another month to bottom, while the S&P 500 could peak as soon as next week,” he said. “Considering Tom’s track record, that’s a good reason to be patient with bitcoin and approach the S&P with some caution.”\nDeMark invented the DeMark Indicator, which some traders use to time the market. The methodology, which follows patterns to project when a trend could change course, is popular among crypto traders to spot highs and lows, Cramer said.\nCramer reviewed the daily chart action for bitcoin, which peaked at around $65,000 in mid-April. The digital coin is now trading above $37,300 as of Friday after falling to $30,000 in mid-May.\nDeMark, who said the drop in bitcoin resembles the crash of 1987, projected that the decline could bring the token’s value to a floor of $32,000 — or $24,000 in the worst case. He now thinks that bitcoin will generally hold above the May 19th low, Cramer said.\nIn what’s known as “Black Monday,” the Dow Jones Industrial Average plummeted more than 20% on Oct. 19, 1987. It was the bookend of a 36% decline in the blue-chip index from August that year.\n“If DeMark’s right, you could get a chance to buy bitcoin in the not-too-distant future, and I might take it,” Cramer said. “I think this ’87 analogy is good news. After the crash of ’87, the stock market bounced back fast.”\nAs for the S&P 500, which closed at a record for the second-straight day, DeMark’s indicator suggests the index could be close to a top, Cramer said. DeMark has price targets of $4,335 and $4,344, about 2% higher than Friday’s finish.","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186979254,"gmtCreate":1623471199678,"gmtModify":1634032689602,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Thats nice","listText":"Thats nice","text":"Thats nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186979254","repostId":"1118102755","repostType":4,"repost":{"id":"1118102755","kind":"news","pubTimestamp":1623469189,"share":"https://www.laohu8.com/m/news/1118102755?lang=&edition=full","pubTime":"2021-06-12 11:39","market":"us","language":"en","title":"Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102755","media":"MarketWatch","summary":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank ","content":"<blockquote>\n <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>\n</blockquote>\n<p>Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p>\n<p>The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p>\n<p>The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p>\n<p>What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p>\n<p><b>Rising yields</b></p>\n<p>Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p>\n<p>“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p>\n<p>That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p>\n<p><b>Fed tapering</b></p>\n<p>Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p>\n<p>“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p>\n<p>“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p>\n<p>He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p>\n<p>As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p>\n<p><b>How to prepare</b></p>\n<p>When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p>\n<p>The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p>\n<p>Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p>\n<p>“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p>\n<p>Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p>\n<p><b>Your five-point game plan</b></p>\n<p><b>1. Do not go to “defensives”</b></p>\n<p>When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p>\n<p>“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p>\n<p><b>2. Go with companies that benefit from growth</b></p>\n<p>Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p>\n<p>I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p>\n<p><b>3. Do not get out of stocks</b></p>\n<p>If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p>\n<p>“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p>\n<p>Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p>\n<p><b>4. Do not own bonds</b></p>\n<p>Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p>\n<p><b>5. Go with financials</b></p>\n<p>Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p>\n<p>The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</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>Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare </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\">\nDon’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over ...</p>\n\n<a href=\"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2\">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",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102755","content_text":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.\nThe reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.\nThe government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.\nWhat should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.\nRising yields\nRemember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452% moved up to around 1.7%? Well, expect a repeat. Only worse.\n“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.\nThat’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.\nFed tapering\nFed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee (FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.\n“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.\n“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.\nHe thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.\nAs we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&P 500 SPX,+0.19%, the Dow Jones Industrial Average DJIA,+0.04% and Nasdaq COMP,+0.35%.\nHow to prepare\nWhen considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.\nThe consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.\nYes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.\n“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”\nLooking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&P 500 earnings up to $220 by the end of the year. Assuming the S&P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.\nYour five-point game plan\n1. Do not go to “defensives”\nWhen people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.\n“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”\n2. Go with companies that benefit from growth\nSince rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.\nI first suggested Lindblad Expeditions LIND,+0.17% and Cardlytics CDLX,+4.54% and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.\n3. Do not get out of stocks\nIf you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.\n“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”\nMarket timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.\n4. Do not own bonds\nBond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.\n5. Go with financials\nStrong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.\nThe strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07% and Bank of America BAC,+0.41% are up over twice as much as the S&P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186947428,"gmtCreate":1623471117664,"gmtModify":1634032691633,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Yes&nbsp;","listText":"Yes&nbsp;","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186947428","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://www.laohu8.com/m/news/1104635261?lang=&edition=full","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<blockquote>\n <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>\n</blockquote>\n<p>A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p>\n<p>Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p>\n<p>The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p>\n<p>The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p>\n<p>Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p>\n<p>As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p>\n<p>Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p>\n<p>“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p>\n<p>Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p>\n<p>It was a day too late.</p>\n<p>AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p>\n<p>Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p>\n<p>The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p>\n<p>Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p>\n<p>But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p>\n<p>Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p>\n<p>Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p>\n<p>Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p>\n<p>Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</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>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders</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\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest ...</p>\n\n<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186947031,"gmtCreate":1623471093623,"gmtModify":1634032692215,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186947031","repostId":"1147474880","repostType":4,"repost":{"id":"1147474880","kind":"news","pubTimestamp":1623470168,"share":"https://www.laohu8.com/m/news/1147474880?lang=&edition=full","pubTime":"2021-06-12 11:56","market":"us","language":"en","title":"Investor, Trader, Speculator: Which One Are You?","url":"https://stock-news.laohu8.com/highlight/detail?id=1147474880","media":"The Wall Street Journal","summary":"Understanding the difference between speculation and investing is essential to avoiding reckless ris","content":"<blockquote>\n Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n</blockquote>\n<p>I’ve had it.</p>\n<p>The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p>\n<p>If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p>\n<p>Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p>\n<p>You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p>\n<p>Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p>\n<p>An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p>\n<p>The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p>\n<p>Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p>\n<p>He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p>\n<p>“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p>\n<p>Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p>\n<p>In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p>\n<p>However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p>\n<p>Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p>\n<p>If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p>\n<p>Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p>\n<p>I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p>\n<p>“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p>\n<p>I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p>\n<p>Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p>\n<p>Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p>\n<p>In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p>\n<p>The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p>\n<p>PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p>\n<p>Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p>\n<p>In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</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>Investor, Trader, Speculator: Which One Are 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\">\nInvestor, Trader, Speculator: Which One Are You?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of ...</p>\n\n<a href=\"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147474880","content_text":"Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.\nIf you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.\nWhenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.\nYou’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.\nOf course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%areinvestors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.\nAn investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.\nThe word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.\nNevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”\nHe wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)\n“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”\nGraham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.\nIn that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”\nHowever, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”\nMost investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.\nIf you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.\nTake speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.\nI think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.\n“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”\nI hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.\nCalling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.\nIna recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”\nIn her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.\nThe currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)\nPAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.\nMs. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”\nIn Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":34,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186946317,"gmtCreate":1623470954639,"gmtModify":1634032695625,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575704006877751","idStr":"3575704006877751"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186946317","repostId":"2142204074","repostType":4,"repost":{"id":"2142204074","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623441637,"share":"https://www.laohu8.com/m/news/2142204074?lang=&edition=full","pubTime":"2021-06-12 04:00","market":"us","language":"en","title":"S&P ekes out gains to close languid week","url":"https://stock-news.laohu8.com/highlight/detail?id=2142204074","media":"Reuters","summary":"NEW YORK, June 11  - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.Economically sensitive smallcaps and transports notched solid gains, outperforming the broader market.For the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.But th","content":"<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</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>S&P ekes out gains to close languid 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; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P ekes out gains to close languid week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".DJI":"道琼斯","SDOW":"道指三倍做空ETF-ProShares","OEF":"标普100指数ETF-iShares",".IXIC":"NASDAQ Composite","QQQ":"纳指100ETF",".SPX":"S&P 500 Index","OEX":"标普100","DXD":"道指两倍做空ETF","SDS":"两倍做空标普500ETF","QID":"纳指两倍做空ETF","DDM":"道指两倍做多ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","IVV":"标普500指数ETF","SH":"标普500反向ETF","DOG":"道指反向ETF","PSQ":"纳指反向ETF","QLD":"纳指两倍做多ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142204074","content_text":"NEW YORK, June 11 (Reuters) - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.\nEconomically sensitive smallcaps and transports notched solid gains, outperforming the broader market.\nFor the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.\nBut the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.\n\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"\n\"So, investors are going to wait until earnings season.\"\nThe Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.\nInvestors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.\n\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.\nBenchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.\nThe Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's\nAlzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.\nBiogen shares, along with the broader healthcare sector ended the session lower.\nUnofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite added 49.09 points, or 0.35%, to 14,069.42.\nAmong the 11 major sectors in the S&P 500, healthcare suffered the biggest percentage drop.\nMuch of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.\nBut meme stock moves were more muted on Friday, with AMC Entertainment outperforming.\n(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)","news_type":1},"isVote":1,"tweetType":1,"viewCount":117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":186973612,"gmtCreate":1623471224536,"gmtModify":1634032688539,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Hodl","listText":"Hodl","text":"Hodl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/186973612","repostId":"1102961449","repostType":4,"repost":{"id":"1102961449","kind":"news","pubTimestamp":1623469034,"share":"https://www.laohu8.com/m/news/1102961449?lang=&edition=full","pubTime":"2021-06-12 11:37","market":"us","language":"en","title":"Jim Cramer: Be patient with bitcoin, approach the S&P with caution","url":"https://stock-news.laohu8.com/highlight/detail?id=1102961449","media":"cnbc","summary":"KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S","content":"<div>\n<p>KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S&P 500.\n“The charts, as interpreted by Tom DeMark, suggest that Bitcoin might take another month to ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.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>Jim Cramer: Be patient with bitcoin, approach the S&P with caution</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\">\nJim Cramer: Be patient with bitcoin, approach the S&P with caution\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S&P 500.\n“The charts, as interpreted by Tom DeMark, suggest that Bitcoin might take another month to ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/11/jim-cramer-be-patient-with-bitcoin-approach-the-sp-with-caution.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1102961449","content_text":"KEY POINTS\n\nCNBC’s Jim Cramer reviewed chart analysis to gauge a bottom in bitcoin and peak in the S&P 500.\n“The charts, as interpreted by Tom DeMark, suggest that Bitcoin might take another month to bottom, while the S&P 500 could peak as soon as next week,” he said on “Mad Money.′\n“Considering Tom’s track record, that’s a good reason to be patient with bitcoin and approach the S&P with some caution,” he said.\n\nCNBC’s Jim Cramer is advising that investors who are searching for entry and exit points keep a close eye on both stock and cryptocurrency trades in the coming weeks.\nThe “Mad Money” host on Friday reviewed chart analysis from Tom DeMark, the founder and head of DeMark Analytics.\n“The charts, as interpreted by Tom DeMark, suggest thatbitcoinmight take another month to bottom, while the S&P 500 could peak as soon as next week,” he said. “Considering Tom’s track record, that’s a good reason to be patient with bitcoin and approach the S&P with some caution.”\nDeMark invented the DeMark Indicator, which some traders use to time the market. The methodology, which follows patterns to project when a trend could change course, is popular among crypto traders to spot highs and lows, Cramer said.\nCramer reviewed the daily chart action for bitcoin, which peaked at around $65,000 in mid-April. The digital coin is now trading above $37,300 as of Friday after falling to $30,000 in mid-May.\nDeMark, who said the drop in bitcoin resembles the crash of 1987, projected that the decline could bring the token’s value to a floor of $32,000 — or $24,000 in the worst case. He now thinks that bitcoin will generally hold above the May 19th low, Cramer said.\nIn what’s known as “Black Monday,” the Dow Jones Industrial Average plummeted more than 20% on Oct. 19, 1987. It was the bookend of a 36% decline in the blue-chip index from August that year.\n“If DeMark’s right, you could get a chance to buy bitcoin in the not-too-distant future, and I might take it,” Cramer said. “I think this ’87 analogy is good news. After the crash of ’87, the stock market bounced back fast.”\nAs for the S&P 500, which closed at a record for the second-straight day, DeMark’s indicator suggests the index could be close to a top, Cramer said. DeMark has price targets of $4,335 and $4,344, about 2% higher than Friday’s finish.","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186946317,"gmtCreate":1623470954639,"gmtModify":1634032695625,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186946317","repostId":"2142204074","repostType":4,"repost":{"id":"2142204074","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623441637,"share":"https://www.laohu8.com/m/news/2142204074?lang=&edition=full","pubTime":"2021-06-12 04:00","market":"us","language":"en","title":"S&P ekes out gains to close languid week","url":"https://stock-news.laohu8.com/highlight/detail?id=2142204074","media":"Reuters","summary":"NEW YORK, June 11  - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.Economically sensitive smallcaps and transports notched solid gains, outperforming the broader market.For the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.But th","content":"<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P ekes out gains to close languid week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, June 11 (Reuters) - The S&amp;P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.</p>\n<p>Economically sensitive smallcaps and transports&nbsp;notched solid gains, outperforming the broader market.</p>\n<p>For the week, the S&amp;P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.</p>\n<p>But the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.</p>\n<p>\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"</p>\n<p>\"So, investors are going to wait until earnings season.\"</p>\n<p>The Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.</p>\n<p>Investors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.</p>\n<p>\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.</p>\n<p>Benchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.</p>\n<p>The Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's</p>\n<p>Alzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.</p>\n<p>Biogen shares, along with the broader healthcare sector&nbsp;ended the session lower.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&amp;P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite&nbsp;added 49.09 points, or 0.35%, to 14,069.42.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare suffered the biggest percentage drop.</p>\n<p>Much of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.</p>\n<p>But meme stock moves were more muted on Friday, with AMC Entertainment outperforming.</p>\n<p>(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".DJI":"道琼斯","SDOW":"道指三倍做空ETF-ProShares","OEF":"标普100指数ETF-iShares",".IXIC":"NASDAQ Composite","QQQ":"纳指100ETF",".SPX":"S&P 500 Index","OEX":"标普100","DXD":"道指两倍做空ETF","SDS":"两倍做空标普500ETF","QID":"纳指两倍做空ETF","DDM":"道指两倍做多ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","IVV":"标普500指数ETF","SH":"标普500反向ETF","DOG":"道指反向ETF","PSQ":"纳指反向ETF","QLD":"纳指两倍做多ETF","UPRO":"三倍做多标普500ETF","UDOW":"道指三倍做多ETF-ProShares","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142204074","content_text":"NEW YORK, June 11 (Reuters) - The S&P 500 closed nominally higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.\nEconomically sensitive smallcaps and transports notched solid gains, outperforming the broader market.\nFor the week, the S&P and the Nasdaq advanced from last Friday's close, while the Dow posted a weekly loss.\nBut the indexes have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday's consumer price data, which eased jitters over the duration of the current inflation wave.\n\"It’s a muted day today,\" Oliver Pursche, senior vice president at Wealthspire Advisors, in New York. \"The summer is settling in, people are slipping out of work early and there’s nothing in the news that’s going to materially drive the market in either direction.\"\n\"So, investors are going to wait until earnings season.\"\nThe Federal Reserve has repeatedly said that near-term price surges will not metastasize into lasting inflation, an assertion reflected in the University of Michigan's Consumer Sentiment report released on Friday, which showed inflation expectations easing from last month's spike.\nInvestors now turn their attention to the Fed's statement at the conclusion of next week's two-day monetary policy meeting, which will be parsed for clues regarding the central bank's timetable for raising key interest rates.\n\"Our view continues to be that inflationary data is transient and we will be around the 2% mark for the year,\" Pursche added.\nBenchmark U.S. Treasury yields posted their biggest weekly drop in nearly a year, weighing on the interest-sensitive financial sector in recent sessions.\nThe Food and Drug Administration is facing mounting criticism over its \"accelerated approval\" of Biogen Inc's\nAlzheimer's drug Aduhelm without strong evidence of its ability to combat the disease.\nBiogen shares, along with the broader healthcare sector ended the session lower.\nUnofficially, the Dow Jones Industrial Average rose 14.41 points, or 0.04%, to 34,480.65, the S&P 500 gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite added 49.09 points, or 0.35%, to 14,069.42.\nAmong the 11 major sectors in the S&P 500, healthcare suffered the biggest percentage drop.\nMuch of the trading volume this week was attributable to the ongoing social media-driven \"meme stock\" phenomenon, in which retail investors swarm around heavily shorted stocks.\nBut meme stock moves were more muted on Friday, with AMC Entertainment outperforming.\n(Reporting by Stephen Culp in New York Additional reporting by Ambar Warrick and Devik Jain in Bengaluru Editing by Matthew Lewis and Cynthia Osterman)","news_type":1},"isVote":1,"tweetType":1,"viewCount":117,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185215546,"gmtCreate":1623652860685,"gmtModify":1634030607401,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"I agree","listText":"I agree","text":"I agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185215546","repostId":"1165811803","repostType":4,"repost":{"id":"1165811803","kind":"news","pubTimestamp":1623632712,"share":"https://www.laohu8.com/m/news/1165811803?lang=&edition=full","pubTime":"2021-06-14 09:05","market":"us","language":"en","title":"4 Unshortable Stocks That Are Too Risky to Bet Against","url":"https://stock-news.laohu8.com/highlight/detail?id=1165811803","media":"InvestorPlace","summary":"If you are thinking about shorting one of these companies, you're doing something wrong. The markets are dealing with an army of investors who are after heavily shorted stocks. But there are also fundamentally strong names where initiating a short position can be risky. These are the so called unshortable stocks.From a fundamental perspective, Nvidia has been on a high growth trajectory. For the first quarter of 2022, the company reported revenue growth of 84% to $5.66 billion. Growth was health","content":"<p>If you are thinking about shorting one of these companies, you're doing something wrong</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/203e343ee38d5c182697edcd4932e483\" tg-width=\"1024\" tg-height=\"576\"><span>Source: Vladeep / Shutterstock.com</span></p>\n<p>The markets are dealing with an army of investors who are after heavily shorted stocks. But there are also fundamentally strong names where initiating a short position can be risky. These are the so called unshortable stocks.</p>\n<p>True,&nbsp;Short squeeze rallies have delivered multi-fold returns for investors.<b>AMC Entertainment</b>(NYSE:<b><u>AMC</u></b>) is the recent case of a short squeeze rally. However, this does not change the fact that some stocks are worth going short. It’s very likely that AMC stock will witness an equally sharp correction.</p>\n<p>That’s not the case with unshortable stocks.</p>\n<p>My focus is on four unshortable stocks where short interest as a percentage of free float is approximately 1%. Two of these stocks trade near all-time highs. The other two are in a consolidation mode and there seems to be a high probability of a breakout on the upside.</p>\n<p>The reasons for these stocks being unshortable are strong fundamentals, high growth and strong cash flows. Additionally, there are ample positive business growth catalysts on the horizon.</p>\n<p>Let’s take a deeper look into the reasons that make these stocks unshortable.</p>\n<ul>\n <li><b>Nvidia</b>(NASDAQ:<b><u>NVDA</u></b>)</li>\n <li><b>Target</b>(NYSE:<b><u>TGT</u></b>)</li>\n <li><b>Shopify</b>(NYSE:<b><u>SHOP</u></b>)</li>\n <li><b>Apple</b>(NASDAQ:<b><u>AAPL</u></b>)</li>\n</ul>\n<p><b>Nvidia (NVDA)</b></p>\n<p>NVDA stock is currently trading near 52-week highs. However, the short interest in the stock is just 1% of the free float. This is probably an indication of the point that NVDA stock is among the unshortable stocks.</p>\n<p>From a fundamental perspective, Nvidia has been on a high growth trajectory. For the first quarter of 2022, the company reported revenue growth of 84% to $5.66 billion. Growth was healthy in the gaming as well as data center segment.</p>\n<p>In addition, Nvidia reported&nbsp;operating cash flow of $1.9 billion for the quarter. This would imply an annualized operating cash flow of nearly $8 billion. The company has high financial flexibility to invest in innovation and pursue inorganic growth.</p>\n<p>In a recent news, Nvidia has asked&nbsp;Chinese regulators to approve the $40 billion acquisition&nbsp;of&nbsp;<b>Arm</b>. A possible approval in the coming quarters will ensure that the stock momentum remains positive.</p>\n<p>With focus on artificial intelligence, Nvidia has also made inroads in multiple industries. This includes AI chips and solutions for robotics, self-driving and healthcare, among others. Therefore, with multiple growth catalysts, NVDA stock remains attractive.</p>\n<p><b>Target (TGT)</b></p>\n<p>TGT stock is another name that I would include among unshortable stocks. The stock trades near all-time highs and looks good for further upside.</p>\n<p>UBS analyst Michael Lasser sees Target as “structurally improved as its strong positioning&nbsp;becomes even clearer in upcoming quarters.” Lasser has a price target of $265 for the stock.</p>\n<p>As the U.S. economy witnesses wider reopening, Target is positioned to benefit. According to Moody’s Analytics, Americans were holding&nbsp;$2.6 trillion in excess savings as of mid-April. The possibility of a post-pandemic consumption boom is likely to be good news for Target, among other retailers.</p>\n<p>Target has already been delivering stellar growth. For the first quarter, the company&nbsp;reported comparable sales growth of 22.9%&nbsp;on a year-on-year basis. Digital comparable sales growth was 50%.</p>\n<p>Clearly, Target is emerging from the pandemic with superior omni-channel capabilities. Initiatives such as order pick-up, drive-up and same-day shipment services are likely to ensure that comparable sales growth remains strong.</p>\n<p>From a financial perspective, Target reported cash flows of $1.1 billion for the quarter. With more than $4 billion in annualized cash flow visibility, dividend and share repurchase will continue.</p>\n<p>Overall, TGT stock looks attractive considering the growth momentum. With an impending spending boom, it might be best to avoid shorting the stock.</p>\n<p><b>Shopify (SHOP)</b></p>\n<p>SHOP stock seems to be trading at premium valuations. However, the stock has consolidated in the broad range of $1,000 to $1,200. Short interest is low and considering the company’s growth outlook, the stock is among the top unshortable stocks.</p>\n<p>For the first quarter, Shopify reported revenue growth of 110% on a year-over-year basis to $988.6 million. An important point to note is that&nbsp;monthly recurring revenue accelerated by 62% to $89.9 million. With sustained growth in monthly recurring revenue, the company is positioned for robust long-term cash flows.</p>\n<p>With the pandemic, e-commerce growth has accelerated globally. Shopify is likely to benefit from positive tailwinds in the coming years. It’s also worth noting that the company has&nbsp;expanded offerings for merchants. This includes Shopify Capital, Shopify Shipping and Shopify Plus. As merchants scale up, there is ample scope for revenue growth.</p>\n<p>As of March, Shopify reported $7.87 billion in cash and equivalents. As the company expands globally, there is ample financial flexibility to invest in platform upgrade and new merchant solutions. As an example, the company recently introduced Shopify POS offering to merchants.</p>\n<p>Overall, SHOP stock looks attractive with strong top-line growth and clear visibility for robust cash flows in the long-term.</p>\n<p><b>Apple (AAPL)</b></p>\n<p>AAPL stock is another name that too risky to bet against. The company has always surprised investors and it seems that the stock is positioned for a breakout after the current consolidation. With strong growth and a production innovation pipeline, it’s not surprising that short interest in AAPL stock is less than 1% of the free float.</p>\n<p>As I write,<i>Reuters</i>&nbsp;reports that Apple is in&nbsp;talks with Chinese manufacturers for a car battery factory&nbsp;in the U.S. The company seems to be gradually working towards its first electric vehicle. That’s likely to keep the markets excited.</p>\n<p>Apple has also witnessed&nbsp;strong growth in the wearables and services segment. Besides strong top-line growth, revenue is more diversified. At the same time, iPhone sales are likely to remain robust with 5G being a key growth driver.</p>\n<p>Apple’s cash glut also implies sustained value creation through share repurchase and possibly higher dividends. Of course, the cash buffer gives the company ample headroom to invest in product innovation and possible acquisitions.</p>\n<p>Overall, as strong growth sustains, it’s too risky to short AAPL stock. On the contrary, current levels look attractive for considering some long-term exposure.</p>","source":"lsy1606302653667","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>4 Unshortable Stocks That Are Too Risky to Bet Against</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\">\n4 Unshortable Stocks That Are Too Risky to Bet Against\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/06/4-unshortable-stocks-that-are-too-risky-to-bet-against/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you are thinking about shorting one of these companies, you're doing something wrong\nSource: Vladeep / Shutterstock.com\nThe markets are dealing with an army of investors who are after heavily ...</p>\n\n<a href=\"https://investorplace.com/2021/06/4-unshortable-stocks-that-are-too-risky-to-bet-against/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TGT":"塔吉特","SHOP":"Shopify Inc","AAPL":"苹果","NVDA":"英伟达"},"source_url":"https://investorplace.com/2021/06/4-unshortable-stocks-that-are-too-risky-to-bet-against/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165811803","content_text":"If you are thinking about shorting one of these companies, you're doing something wrong\nSource: Vladeep / Shutterstock.com\nThe markets are dealing with an army of investors who are after heavily shorted stocks. But there are also fundamentally strong names where initiating a short position can be risky. These are the so called unshortable stocks.\nTrue, Short squeeze rallies have delivered multi-fold returns for investors.AMC Entertainment(NYSE:AMC) is the recent case of a short squeeze rally. However, this does not change the fact that some stocks are worth going short. It’s very likely that AMC stock will witness an equally sharp correction.\nThat’s not the case with unshortable stocks.\nMy focus is on four unshortable stocks where short interest as a percentage of free float is approximately 1%. Two of these stocks trade near all-time highs. The other two are in a consolidation mode and there seems to be a high probability of a breakout on the upside.\nThe reasons for these stocks being unshortable are strong fundamentals, high growth and strong cash flows. Additionally, there are ample positive business growth catalysts on the horizon.\nLet’s take a deeper look into the reasons that make these stocks unshortable.\n\nNvidia(NASDAQ:NVDA)\nTarget(NYSE:TGT)\nShopify(NYSE:SHOP)\nApple(NASDAQ:AAPL)\n\nNvidia (NVDA)\nNVDA stock is currently trading near 52-week highs. However, the short interest in the stock is just 1% of the free float. This is probably an indication of the point that NVDA stock is among the unshortable stocks.\nFrom a fundamental perspective, Nvidia has been on a high growth trajectory. For the first quarter of 2022, the company reported revenue growth of 84% to $5.66 billion. Growth was healthy in the gaming as well as data center segment.\nIn addition, Nvidia reported operating cash flow of $1.9 billion for the quarter. This would imply an annualized operating cash flow of nearly $8 billion. The company has high financial flexibility to invest in innovation and pursue inorganic growth.\nIn a recent news, Nvidia has asked Chinese regulators to approve the $40 billion acquisition of Arm. A possible approval in the coming quarters will ensure that the stock momentum remains positive.\nWith focus on artificial intelligence, Nvidia has also made inroads in multiple industries. This includes AI chips and solutions for robotics, self-driving and healthcare, among others. Therefore, with multiple growth catalysts, NVDA stock remains attractive.\nTarget (TGT)\nTGT stock is another name that I would include among unshortable stocks. The stock trades near all-time highs and looks good for further upside.\nUBS analyst Michael Lasser sees Target as “structurally improved as its strong positioning becomes even clearer in upcoming quarters.” Lasser has a price target of $265 for the stock.\nAs the U.S. economy witnesses wider reopening, Target is positioned to benefit. According to Moody’s Analytics, Americans were holding $2.6 trillion in excess savings as of mid-April. The possibility of a post-pandemic consumption boom is likely to be good news for Target, among other retailers.\nTarget has already been delivering stellar growth. For the first quarter, the company reported comparable sales growth of 22.9% on a year-on-year basis. Digital comparable sales growth was 50%.\nClearly, Target is emerging from the pandemic with superior omni-channel capabilities. Initiatives such as order pick-up, drive-up and same-day shipment services are likely to ensure that comparable sales growth remains strong.\nFrom a financial perspective, Target reported cash flows of $1.1 billion for the quarter. With more than $4 billion in annualized cash flow visibility, dividend and share repurchase will continue.\nOverall, TGT stock looks attractive considering the growth momentum. With an impending spending boom, it might be best to avoid shorting the stock.\nShopify (SHOP)\nSHOP stock seems to be trading at premium valuations. However, the stock has consolidated in the broad range of $1,000 to $1,200. Short interest is low and considering the company’s growth outlook, the stock is among the top unshortable stocks.\nFor the first quarter, Shopify reported revenue growth of 110% on a year-over-year basis to $988.6 million. An important point to note is that monthly recurring revenue accelerated by 62% to $89.9 million. With sustained growth in monthly recurring revenue, the company is positioned for robust long-term cash flows.\nWith the pandemic, e-commerce growth has accelerated globally. Shopify is likely to benefit from positive tailwinds in the coming years. It’s also worth noting that the company has expanded offerings for merchants. This includes Shopify Capital, Shopify Shipping and Shopify Plus. As merchants scale up, there is ample scope for revenue growth.\nAs of March, Shopify reported $7.87 billion in cash and equivalents. As the company expands globally, there is ample financial flexibility to invest in platform upgrade and new merchant solutions. As an example, the company recently introduced Shopify POS offering to merchants.\nOverall, SHOP stock looks attractive with strong top-line growth and clear visibility for robust cash flows in the long-term.\nApple (AAPL)\nAAPL stock is another name that too risky to bet against. The company has always surprised investors and it seems that the stock is positioned for a breakout after the current consolidation. With strong growth and a production innovation pipeline, it’s not surprising that short interest in AAPL stock is less than 1% of the free float.\nAs I write,Reuters reports that Apple is in talks with Chinese manufacturers for a car battery factory in the U.S. The company seems to be gradually working towards its first electric vehicle. That’s likely to keep the markets excited.\nApple has also witnessed strong growth in the wearables and services segment. Besides strong top-line growth, revenue is more diversified. At the same time, iPhone sales are likely to remain robust with 5G being a key growth driver.\nApple’s cash glut also implies sustained value creation through share repurchase and possibly higher dividends. Of course, the cash buffer gives the company ample headroom to invest in product innovation and possible acquisitions.\nOverall, as strong growth sustains, it’s too risky to short AAPL stock. On the contrary, current levels look attractive for considering some long-term exposure.","news_type":1},"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187654423,"gmtCreate":1623753263762,"gmtModify":1634029019236,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Looks good","listText":"Looks good","text":"Looks good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/187654423","repostId":"1167457915","repostType":4,"repost":{"id":"1167457915","kind":"news","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":1623750756,"share":"https://www.laohu8.com/m/news/1167457915?lang=&edition=full","pubTime":"2021-06-15 17:52","market":"us","language":"en","title":"Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1167457915","media":"Benzinga","summary":"It was \"better late than never\" for Novavax, Inc.NVAX, as the biopharma finally got around to announ","content":"<p>It was \"better late than never\" for&nbsp;<b>Novavax, Inc.</b>NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.</p>\n<p>Here's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namely<b>Pfizer Inc.</b>PFE 0.05%-<b>BioNTech SE</b>BNTXand<b>Moderna, Inc.</b>MRNA, both of which have authorized vaccines in the market.</p>\n<p><b>Vaccine Type:</b>&nbsp;Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.</p>\n<p>The Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern&nbsp;vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.</p>\n<p>This spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.</p>\n<p>Novavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle&nbsp;that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.</p>\n<p><b>The Vaccine Doses:</b>&nbsp;The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.</p>\n<p>The interval between the two doses —&nbsp;the priming and booster dose —&nbsp;is 21 days each for Pfizer and Novavax and 28 days for Moderna.</p>\n<p><b>The Target Population:</b>&nbsp;The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants&nbsp;ages 16 years and older. The trial enrolled 43,448 participants.</p>\n<p>Moderna'sPhase 3 COVE study enrolled 30,000 participants&nbsp;ages 18 years and up.</p>\n<p>Since then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.</p>\n<p>Bothcompanieshave also initiated studies in the pediatric population.</p>\n<p>Novavax's study enrolled 29,960 participants&nbsp;18 years of age and older&nbsp;across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.</p>\n<p><b>Vaccine Logistics:</b>&nbsp;Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.</p>\n<p>Previously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five&nbsp;days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.</p>\n<p>NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.</p>\n<p><b>Vaccine Efficacy:</b>&nbsp;Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven&nbsp;days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.</p>\n<p>The vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.</p>\n<p>Moderna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.</p>\n<p>Novavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.</p>\n<p>Against variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.</p>\n<p>Overall efficacy was 90.4%, meeting the primary endpoint.</p>\n<p><b>Cantor Fitzgerald On Novavax's Vaccine:</b>A differentiating factor for NVX-2373&nbsp;is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.</p>\n<p>\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.</p>\n<p>Showing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.</p>\n<p>This profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.</p>\n<p><b>Vaccine Safety Data:</b>Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from&nbsp;BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.</p>\n<p>For Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.</p>\n<p>Preliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.</p>\n<p>In assessing reactogenicity seven&nbsp;days after dose one&nbsp;and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.</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>Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up</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\">\nNovavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up\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\">2021-06-15 17:52</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It was \"better late than never\" for&nbsp;<b>Novavax, Inc.</b>NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.</p>\n<p>Here's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namely<b>Pfizer Inc.</b>PFE 0.05%-<b>BioNTech SE</b>BNTXand<b>Moderna, Inc.</b>MRNA, both of which have authorized vaccines in the market.</p>\n<p><b>Vaccine Type:</b>&nbsp;Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.</p>\n<p>The Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern&nbsp;vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.</p>\n<p>This spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.</p>\n<p>Novavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle&nbsp;that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.</p>\n<p><b>The Vaccine Doses:</b>&nbsp;The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.</p>\n<p>The interval between the two doses —&nbsp;the priming and booster dose —&nbsp;is 21 days each for Pfizer and Novavax and 28 days for Moderna.</p>\n<p><b>The Target Population:</b>&nbsp;The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants&nbsp;ages 16 years and older. The trial enrolled 43,448 participants.</p>\n<p>Moderna'sPhase 3 COVE study enrolled 30,000 participants&nbsp;ages 18 years and up.</p>\n<p>Since then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.</p>\n<p>Bothcompanieshave also initiated studies in the pediatric population.</p>\n<p>Novavax's study enrolled 29,960 participants&nbsp;18 years of age and older&nbsp;across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.</p>\n<p><b>Vaccine Logistics:</b>&nbsp;Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.</p>\n<p>Previously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five&nbsp;days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.</p>\n<p>NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.</p>\n<p><b>Vaccine Efficacy:</b>&nbsp;Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven&nbsp;days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.</p>\n<p>The vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.</p>\n<p>Moderna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.</p>\n<p>Novavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.</p>\n<p>Against variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.</p>\n<p>Overall efficacy was 90.4%, meeting the primary endpoint.</p>\n<p><b>Cantor Fitzgerald On Novavax's Vaccine:</b>A differentiating factor for NVX-2373&nbsp;is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.</p>\n<p>\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.</p>\n<p>Showing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.</p>\n<p>This profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.</p>\n<p><b>Vaccine Safety Data:</b>Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from&nbsp;BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.</p>\n<p>For Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.</p>\n<p>Preliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.</p>\n<p>In assessing reactogenicity seven&nbsp;days after dose one&nbsp;and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc.","PFE":"辉瑞","NVAX":"诺瓦瓦克斯医药"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167457915","content_text":"It was \"better late than never\" for Novavax, Inc.NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.\nHere's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namelyPfizer Inc.PFE 0.05%-BioNTech SEBNTXandModerna, Inc.MRNA, both of which have authorized vaccines in the market.\nVaccine Type: Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.\nThe Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.\nThis spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.\nNovavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.\nThe Vaccine Doses: The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.\nThe interval between the two doses — the priming and booster dose — is 21 days each for Pfizer and Novavax and 28 days for Moderna.\nThe Target Population: The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants ages 16 years and older. The trial enrolled 43,448 participants.\nModerna'sPhase 3 COVE study enrolled 30,000 participants ages 18 years and up.\nSince then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.\nBothcompanieshave also initiated studies in the pediatric population.\nNovavax's study enrolled 29,960 participants 18 years of age and older across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.\nVaccine Logistics: Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.\nPreviously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.\nNVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.\nVaccine Efficacy: Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.\nThe vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.\nModerna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.\nNovavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.\nAgainst variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.\nOverall efficacy was 90.4%, meeting the primary endpoint.\nCantor Fitzgerald On Novavax's Vaccine:A differentiating factor for NVX-2373 is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.\n\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.\nShowing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.\nThis profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.\nVaccine Safety Data:Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.\nFor Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.\nPreliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.\nIn assessing reactogenicity seven days after dose one and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185214446,"gmtCreate":1623652948485,"gmtModify":1634030606220,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185214446","repostId":"2143785982","repostType":4,"repost":{"id":"2143785982","kind":"highlight","pubTimestamp":1623651978,"share":"https://www.laohu8.com/m/news/2143785982?lang=&edition=full","pubTime":"2021-06-14 14:26","market":"us","language":"en","title":"3 Reasons Roku Will Keep Growing Faster in 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2143785982","media":"Motley Fool","summary":"The streaming video platform company has long-term tailwinds.","content":"<p><b>Roku</b>'s (NASDAQ:ROKU) active accounts and streaming hours exploded in 2020 amid the coronavirus pandemic, and its outlook for 2021 is still strong. In Roku's first-quarter letter to shareholders, management wrote, \"we expect net adds of both active accounts and streaming hours to be above pre-COVID-19 levels.\" Management also anticipates an uptick in streaming hours per account over 2020.</p>\n<p>Here are three reasons management is so confident about the company's continued growth even as more out-of-home entertainment options become available again.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec19c2416d561ebc17e5c5ee47f1d17e\" tg-width=\"700\" tg-height=\"417\"><span>Image source: Roku.</span></p>\n<h2><b>1. New streaming services</b></h2>\n<p>Several high-profile streaming services entered the market in late 2019 and 2020. However, <b>Comcast</b>'s Peacock and <b>AT&amp;T</b>'s HBO Max didn't actually show up on Roku devices until late last year.</p>\n<p>On top of that, <b>Discovery</b>&nbsp;launched Discovery+ at the start of this year, and a CNN+ streaming service could be in the works as well.</p>\n<p>This summer, Peacock will stream a large amount of Olympic Games content, which could boost its popularity and draw more users to Roku devices. (As of June, Peacock still doesn't have a deal with Amazon Fire TV.)</p>\n<p>Broadly speaking, media companies are adopting direct-to-consumer streaming and making more of their content available on connected-TV platforms. And Roku is investing in content for its Roku Channel. With more content available to stream than ever before, it should see an increase in user engagement.</p>\n<h2><b>2. International growth</b></h2>\n<p>While Roku is already the most popular connected-TV platform in the U.S., it's still in the early days of its international expansion. Management is following the same playbook in foreign markets as it did domestically: first scale its user base, then increase engagement, and then improve monetization.</p>\n<p>So far, it's working well. In Canada -- <a href=\"https://laohu8.com/S/AONE\">one</a> of the first international markets it pushed into -- it's already the No. 1 smart TV platform. In Mexico, it's No. 2, and has the top-licensed smart TV OS.</p>\n<p>Roku has an additional advantage in international markets: Viewers in those markets are more prone to engage with ad-supported content versus subscription services. Those services are a bigger focus for Roku than they are for its competitors, and The Roku Channel gives it an additional leg up. That streaming service is currently available in Canada and the U.K., as well as the U.S.</p>\n<p>As Roku continues to establish itself in international markets like the U.K. and Brazil, it's well-positioned for strong account growth even compared to a couple of years ago.</p>\n<h2><b>3. The continued shift in media consumption patterns</b></h2>\n<p>Roku operates under the assumption that all TV will become streaming media. That said, Americans spent an average of 3.5 hours per day watching traditional TV in 2020, according to an estimate from eMarketer. The analysts expect TV viewing to decline by 16 minutes per day this year, and about half of that time will be shifted into consuming media on connected devices and platforms like Roku's.</p>\n<p><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> factors are driving the decline in traditional TV viewing. First is a shift among cable subscribers from watching linear TV to viewing more on-demand streaming content. Second, and more importantly, cord-cutting is on course to accelerate in 2021, and that trend is forecast to continue throughout the decade. Those trends should combine to produce a sustained shift in viewership from traditional TV to streaming programming.</p>\n<p>Also, in 2021, U.S. audiences are likely to have less interest in news programming -- absent a raging pandemic and a presidential election -- and more interest in entertainment, which is best served via streaming. That should produce greater engagement among Roku users regardless, but when you factor in the increased number of streaming options, average engagement on Roku should still climb compared to 2020. Add in the potential for strong international growth, and 2021 should be another year of rapid growth in users and engagement for Roku.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Reasons Roku Will Keep Growing Faster in 2021</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Reasons Roku Will Keep Growing Faster in 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 14:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/13/3-reasons-roku-will-keep-growing-faster-in-2021/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Roku's (NASDAQ:ROKU) active accounts and streaming hours exploded in 2020 amid the coronavirus pandemic, and its outlook for 2021 is still strong. In Roku's first-quarter letter to shareholders, ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/13/3-reasons-roku-will-keep-growing-faster-in-2021/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2021/06/13/3-reasons-roku-will-keep-growing-faster-in-2021/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143785982","content_text":"Roku's (NASDAQ:ROKU) active accounts and streaming hours exploded in 2020 amid the coronavirus pandemic, and its outlook for 2021 is still strong. In Roku's first-quarter letter to shareholders, management wrote, \"we expect net adds of both active accounts and streaming hours to be above pre-COVID-19 levels.\" Management also anticipates an uptick in streaming hours per account over 2020.\nHere are three reasons management is so confident about the company's continued growth even as more out-of-home entertainment options become available again.\nImage source: Roku.\n1. New streaming services\nSeveral high-profile streaming services entered the market in late 2019 and 2020. However, Comcast's Peacock and AT&T's HBO Max didn't actually show up on Roku devices until late last year.\nOn top of that, Discovery launched Discovery+ at the start of this year, and a CNN+ streaming service could be in the works as well.\nThis summer, Peacock will stream a large amount of Olympic Games content, which could boost its popularity and draw more users to Roku devices. (As of June, Peacock still doesn't have a deal with Amazon Fire TV.)\nBroadly speaking, media companies are adopting direct-to-consumer streaming and making more of their content available on connected-TV platforms. And Roku is investing in content for its Roku Channel. With more content available to stream than ever before, it should see an increase in user engagement.\n2. International growth\nWhile Roku is already the most popular connected-TV platform in the U.S., it's still in the early days of its international expansion. Management is following the same playbook in foreign markets as it did domestically: first scale its user base, then increase engagement, and then improve monetization.\nSo far, it's working well. In Canada -- one of the first international markets it pushed into -- it's already the No. 1 smart TV platform. In Mexico, it's No. 2, and has the top-licensed smart TV OS.\nRoku has an additional advantage in international markets: Viewers in those markets are more prone to engage with ad-supported content versus subscription services. Those services are a bigger focus for Roku than they are for its competitors, and The Roku Channel gives it an additional leg up. That streaming service is currently available in Canada and the U.K., as well as the U.S.\nAs Roku continues to establish itself in international markets like the U.K. and Brazil, it's well-positioned for strong account growth even compared to a couple of years ago.\n3. The continued shift in media consumption patterns\nRoku operates under the assumption that all TV will become streaming media. That said, Americans spent an average of 3.5 hours per day watching traditional TV in 2020, according to an estimate from eMarketer. The analysts expect TV viewing to decline by 16 minutes per day this year, and about half of that time will be shifted into consuming media on connected devices and platforms like Roku's.\nTwo factors are driving the decline in traditional TV viewing. First is a shift among cable subscribers from watching linear TV to viewing more on-demand streaming content. Second, and more importantly, cord-cutting is on course to accelerate in 2021, and that trend is forecast to continue throughout the decade. Those trends should combine to produce a sustained shift in viewership from traditional TV to streaming programming.\nAlso, in 2021, U.S. audiences are likely to have less interest in news programming -- absent a raging pandemic and a presidential election -- and more interest in entertainment, which is best served via streaming. That should produce greater engagement among Roku users regardless, but when you factor in the increased number of streaming options, average engagement on Roku should still climb compared to 2020. Add in the potential for strong international growth, and 2021 should be another year of rapid growth in users and engagement for Roku.","news_type":1},"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186979254,"gmtCreate":1623471199678,"gmtModify":1634032689602,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Thats nice","listText":"Thats nice","text":"Thats nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186979254","repostId":"1118102755","repostType":4,"repost":{"id":"1118102755","kind":"news","pubTimestamp":1623469189,"share":"https://www.laohu8.com/m/news/1118102755?lang=&edition=full","pubTime":"2021-06-12 11:39","market":"us","language":"en","title":"Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare","url":"https://stock-news.laohu8.com/highlight/detail?id=1118102755","media":"MarketWatch","summary":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank ","content":"<blockquote>\n <b>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.</b>\n</blockquote>\n<p>Don’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.</p>\n<p>The reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.</p>\n<p>The government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.</p>\n<p>What should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.</p>\n<p><b>Rising yields</b></p>\n<p>Remember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452%&nbsp;moved up to around 1.7%? Well, expect a repeat. Only worse.</p>\n<p>“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.</p>\n<p>That’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.</p>\n<p><b>Fed tapering</b></p>\n<p>Fed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee&nbsp;(FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.</p>\n<p>“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.</p>\n<p>“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.</p>\n<p>He thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.</p>\n<p>As we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&amp;P 500 SPX,+0.19%,&nbsp;the Dow Jones Industrial Average DJIA,+0.04%&nbsp;and Nasdaq COMP,+0.35%.</p>\n<p><b>How to prepare</b></p>\n<p>When considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.</p>\n<p>The consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.</p>\n<p>Yes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.</p>\n<p>“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”</p>\n<p>Looking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&amp;P 500 earnings up to $220 by the end of the year. Assuming the S&amp;P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.</p>\n<p><b>Your five-point game plan</b></p>\n<p><b>1. Do not go to “defensives”</b></p>\n<p>When people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.</p>\n<p>“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”</p>\n<p><b>2. Go with companies that benefit from growth</b></p>\n<p>Since rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.</p>\n<p>I first suggested Lindblad Expeditions LIND,+0.17%&nbsp;and Cardlytics CDLX,+4.54%&nbsp;and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&amp;P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.</p>\n<p><b>3. Do not get out of stocks</b></p>\n<p>If you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.</p>\n<p>“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”</p>\n<p>Market timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.</p>\n<p><b>4. Do not own bonds</b></p>\n<p>Bond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.</p>\n<p><b>5. Go with financials</b></p>\n<p>Strong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.</p>\n<p>The strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07%&nbsp;and Bank of America BAC,+0.41%&nbsp;are up over twice as much as the S&amp;P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.</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>Don’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare </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\">\nDon’t be fooled — inflation is a big risk for stock market investors. Here’s how to prepare \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over ...</p>\n\n<a href=\"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2\">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",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/dont-be-fooled-inflation-is-a-big-risk-for-stock-market-investors-heres-how-to-prepare-11623421036?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118102755","content_text":"Michael Brush advises on how you can avoid making mistakes as bond yields rise and the central bank reduces its stimulus.\n\nDon’t be fooled by the placid response to the highest inflation rate in over a decade. Inflation will remain elevated enough to shake up the stock market, possibly causing a selloff as much as 15%. You need to prepare now.\nThe reason: Persistently high inflation will move the 10-year Treasury yield to 2% and get the Federal Reserve to start tapering its stimulus by the end of the year. Both will rattle the stock market.\nThe government said June 10 that the cost of living surged in May and drove the pace of inflation to a 13-year high of 5%.\nWhat should you do? Probably the opposite of what you are thinking. Before we get to that, here is a look at the two key events for stocks — in the bond market and at the Fed — between today and the end of the year.\nRising yields\nRemember how the stock market freaked out earlier this year when the 10-year Treasury yield TMUBMUSD10Y,1.452% moved up to around 1.7%? Well, expect a repeat. Only worse.\n“We suspect that inflation in the U.S. will prove more persistent than investors currently appear to anticipate,” says Capital Economics economist Franziska Palmas, citing the tight labor market and wage growth. Her research group puts the 10-year yield at 2.25% by the end of this year, and 2.5% by the end of 2022.\nThat’ll be a big move from the current level of 1.5%. Stock investors tend to panic when interest rates rise a lot.\nFed tapering\nFed Chairman Jerome Powell has downplayed the need for tapering the central bank’s bond purchases to keep yields low. But half of the 12 members of the Federal Open Market Committee (FOMC) have recently said they’re ready to start talking about tapering. The FOMC is the Fed branch that sets monetary policy.\n“It will be increasingly hard for Powell to claim the economy needs to make ‘substantial further progress’ toward achieving maximum employment before the Fed starts talking about talking about tapering,” says Ed Yardeni, author of Predicting the Markets and head of Yardeni Research. Powell has repeatedly said the Fed is awaiting “substantial further progress” in the economy before terminating its stimulus.\n“Given the performance of the economy, it is reasonable to expect they will start to taper before end of year, and a few months later they will start to raise the federal funds rate,” predicts Yardeni.\nHe thinks the Fed will announce a decision to start tapering in its July meeting. Tapering refers to a reduction in bond purchases by the Fed. This tightens the money supply to put the brakes on growth. Once purchases go to zero, the Fed moves on to cutting rates.\nAs we know, tapering causes a “taper tantrum” in the stock market, meaning a sharp selloff in indices like the S&P 500 SPX,+0.19%, the Dow Jones Industrial Average DJIA,+0.04% and Nasdaq COMP,+0.35%.\nHow to prepare\nWhen considering how to position for the probable selloff caused by rising bond yields and Fed tightening, the key things to remember is why these things are happening in the first place, and what history tells us about how stocks behave.\nThe consensus view is that tapering and rising bond yields kill off economic growth and the bull market in stocks. But this isn’t actually true.\nYes, initially, tightening can make stocks fall — or churn sideways, at best. But then stocks shake it off and move higher as the bull market continues. This makes sense, because the tightening is happening for good reasons that help companies — strong economic growth. This pushes earnings a lot higher, which resets valuations lower — back down to levels investors feel comfortable with.\n“Tapering is part and parcel of a recovery,” says Leuthold market strategist Jim Paulsen. “It is a response to successful policy and a rebound in the economy. It is a natural part of the bull market that allows the market to go higher. It’s a healthy development.”\nLooking through all the market fireworks that may lie ahead, Paulsen thinks underlying economic growth will push S&P 500 earnings up to $220 by the end of the year. Assuming the S&P 500 is at current levels or a little bit lower, that would bring the index’s price-to-earnings (P/E) ratio down to 18-19 — which is near or below the average since 1990. “That sets up the next leg of the bull market,” he says.\nYour five-point game plan\n1. Do not go to “defensives”\nWhen people see stock market turbulence, the knee-jerk reaction is to go for the “stability” of defensive names like utilities and consumer staples. But that would be a mistake. You want to go to defensives when the economy is slowing or contracting, not when it is strong. Another problem is that defensive names pay yield. So, like bonds, they get hit by rising interest rates, which devalue dividends — and dividend-paying stocks and bonds.\n“The best way to protect yourself is to tie your portfolio to the overheated economy. That is where the best profit growth and profit leverage is,” says Paulsen. “You do not get that with defensives.”\n2. Go with companies that benefit from growth\nSince rapid economic growth is causing the tapering — and the growth is usually not killed off by tightening — stocks linked to growth typically are the best place to be. This means cyclicals like industrials, basic materials consumer names, small-caps and international stocks. “Slower growth consumer staples and utilities won’t keep up with growth areas of the market,” says Paulsen.\nI first suggested Lindblad Expeditions LIND,+0.17% and Cardlytics CDLX,+4.54% and in my stock letter, Brush Up on Stocks (the link to my site is in the bio, below) in September 2020 and November 2019. I still like and own both even though they are up 48% and 157% — or two to four times the S&P 500. Recent insider buying confirms they are buys and holds around current levels. Plus, both are cyclical names. Cardlytics helps credit card companies understand customer buying patterns for marketing purposes. Lindblad offers specialized cruise adventures to exotic locales. Both benefit from economic growth that powers more consumer spending.\n3. Do not get out of stocks\nIf you think a selloff is coming, it might be tempting to try to get out of stocks right before that, to buy back after the weakness happens. But this is a lot harder than you think. In fact, it is almost impossible to get the timing right, say market veterans.\n“You have to make two smart decisions,” says Yardeni. “You have to get out just before the correction and then you have to decide when to get back in. I don’t know of too many people that can do that consistently.”\nMarket timers often get out and don’t get back in, and they miss the next leg up. “You can get yourself into trouble trying to avoid the correction,” says Paulsen.\n4. Do not own bonds\nBond yields will be 2% or higher by the end of year. So don’t own bonds, whose prices fall when yields rise — unless you simply plan to hold to maturity to collect the income.\n5. Go with financials\nStrong economies typically make the yield curve more upward sloping, meaning that long-term interest rates on 10-year Treasuries rise a lot faster than short-term interest rates. Since banks borrow at the short end and lend at the long end, steepening yield curves help them.\nThe strong economy will also help banks release reserves and lower provisions for loan losses, both of which can boost earnings, points out Yardeni. Both JPMorgan Chase JPM,-0.07% and Bank of America BAC,+0.41% are up over twice as much as the S&P 500 since I suggested them in my stock letter last August. But they still look attractive. Recent pattern buying by smart insiders among smaller banks confirms the sector is still one to own, despite the strength over the past few quarters.","news_type":1},"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187656147,"gmtCreate":1623753166989,"gmtModify":1634029022357,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"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/187656147","repostId":"1142697857","repostType":4,"repost":{"id":"1142697857","kind":"news","pubTimestamp":1623752468,"share":"https://www.laohu8.com/m/news/1142697857?lang=&edition=full","pubTime":"2021-06-15 18:21","market":"us","language":"en","title":"Fed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse","url":"https://stock-news.laohu8.com/highlight/detail?id=1142697857","media":"Bloomberg","summary":"Fed wants to normalize relations with Congress, markets\nPolicy makers may begin months-long talks on","content":"<ul>\n <li>Fed wants to normalize relations with Congress, markets</li>\n <li>Policy makers may begin months-long talks on taper Tuesday</li>\n</ul>\n<p>The Federal Reserve is inching toward the start of a long road to normalizing its relationship with the rest of Washington and Wall Street.</p>\n<p>After spending the past 15 months providing unprecedented help to the federal government and investors via trillions of dollars of bond purchases, it could start preliminary discussions about scaling back that support at a pivotal two-day policy meeting that kicks off on Tuesday.</p>\n<p>Even so, actual steps in that direction by Chair Jerome Powell and his colleagues are likely still months off.</p>\n<p>Weaning Wall Street and Washington off the Fed’s extraordinary largesse won’t be easy. Since Covid-19 struck the U.S. in March 2020, the central bank has brought more than $2.5 trillion of U.S. Treasury debt, effectively covering more than half of the federal government’s red ink over that time.</p>\n<p><img src=\"https://static.tigerbbs.com/f845f5d5fa4baccad7e30207df549d71\" tg-width=\"620\" tg-height=\"348\">That buying -- together with about $870 billion in purchases of mortgage-backed securities -- has flooded the financial markets with liquidity, contributing to a doubling of the stock market from its pandemic low.</p>\n<p>“It will be like crawling along a knife-edge ridge,” former Bank of England policy maker Charles Goodhart said of the task facing the Fed. “If you do too little you’ll find inflation will just go on accelerating. If you do too much you get into a financial crisis and a recession.”</p>\n<p>Fed officials have said they want to see “substantial further progress” toward their goals of maximum employment and average 2% inflation before reducing current asset purchases of $120 billion per month. None are suggesting that they’re close to achieving that, though some have pressed for discussions to begin on a plan for tapering that buying.</p>\n<p>As Powell has pointed out more than once, payrolls are still substantially below where they were pre-pandemic -- some 7.6 million jobs short, according to the May employment report. And while inflation recently has proven surprisingly rapid -- consumer prices climbed 5% in May from a year earlier -- Powell and other Fed officials have argued that the rise is mostly transitory, the result of temporary bottlenecks as the economy reopens and low readings a year ago when it shut down.</p>\n<p><b>Price Pressures Heat Up</b></p>\n<p>U.S. core and headline inflation both increased more than forecast in May</p>\n<p><img src=\"https://static.tigerbbs.com/320b6b6419ac9bcbe999007f7786196f\" tg-width=\"643\" tg-height=\"330\">“Why would the Fed try to fix bottleneck-driven inflation by signaling earlier rate hikes and hitting demand?” Julia Coronado, president of MacroPolicy Perspectives, asked in a June 14 tweet.</p>\n<p>Instead, after years of falling short of their inflation goal, policy makers will “err on the side of patience” in scaling back stimulus, said former Fed official David Wilcox, who is now at the Peterson Institute for International Economics.</p>\n<p>Powell’s past and potential future also argue for patience. As a Fed governor in 2013, he was among those pushing then-Chairman Ben Bernanke to roll back quantitative easing, only to see the financial markets throw a “taper tantrum” at the mere suggestion such a policy shift was coming.</p>\n<p>With his own term as Fed chair up next February, Powell has an extra incentive to avoid a repeat of such turbulence.</p>\n<p>“While the Fed is an independent institution, its leadership, up for reappointment next year, could not totally ignore the dim view the administration and Democratic Congress would take toward a shift to a more pre-emptive policy stance,” Deutsche Bank chief economist David Folkerts-Landau and colleagues wrote in a June 7 report.</p>\n<p>Some three-quarters of economists surveyed by Bloomberg last week said they expect the Fed to announce between August and year-end that it will begin paring its purchases, with one-third forecasting it won’t fire the starting gun until December.</p>\n<p>It’s not just the timing of the taper that’s up for discussion. So too are its composition and pace.</p>\n<p>The Fed has faced criticism from within and outside the organization for continuing to buy $40 billion of mortgage-backed securities per month while house prices are surging. Vice Chair Randal Quarles said last month that the Fed would “certainly” look at that issue in the context of its taper discussions.</p>\n<p><b>Steady Pace</b></p>\n<p>The last time the Fed wound up a quantitative easing program, in 2014, it shrank its asset purchases at a steady pace.</p>\n<p>“Investors may be lulled into a false sense of security by that experience,” former Fed official William English told a June 8 Deutsche Bank webinar. Given all the uncertainty surrounding the post pandemic economy, “it’s not necessarily going to be the case that the Fed is going to taper in steady steps.”</p>\n<p>Much may depend on the financial markets. American Enterprise Institute resident fellow Desmond Lachman said the ultra-easy monetary policy being pursued by the Fed and other major central banks has led to an “everything asset price bubble,” with stock, credit and housing markets all frothy.</p>\n<p>“The chance of the bubble bursting is all the greater if the Fed is behind the curve,” he said.</p>\n<p>English, who is now at the Yale School of Management, said it’s going to be politically hard for the Fed to wind up its asset purchases and increase interest rates because that will boost the government’s borrowing costs.</p>\n<p>“The Fed is going to come under a lot of criticism for raising rates and making budget choices for the Congress considerably tougher,” he said, adding, “At some level, the Fed needs to both normalize policy but also normalize its relationship with the government.”</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>Fed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse</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\">\nFed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 18:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-15/fed-poised-to-crawl-onto-knife-edge-to-rein-in-record-largesse><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fed wants to normalize relations with Congress, markets\nPolicy makers may begin months-long talks on taper Tuesday\n\nThe Federal Reserve is inching toward the start of a long road to normalizing its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-15/fed-poised-to-crawl-onto-knife-edge-to-rein-in-record-largesse\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-15/fed-poised-to-crawl-onto-knife-edge-to-rein-in-record-largesse","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142697857","content_text":"Fed wants to normalize relations with Congress, markets\nPolicy makers may begin months-long talks on taper Tuesday\n\nThe Federal Reserve is inching toward the start of a long road to normalizing its relationship with the rest of Washington and Wall Street.\nAfter spending the past 15 months providing unprecedented help to the federal government and investors via trillions of dollars of bond purchases, it could start preliminary discussions about scaling back that support at a pivotal two-day policy meeting that kicks off on Tuesday.\nEven so, actual steps in that direction by Chair Jerome Powell and his colleagues are likely still months off.\nWeaning Wall Street and Washington off the Fed’s extraordinary largesse won’t be easy. Since Covid-19 struck the U.S. in March 2020, the central bank has brought more than $2.5 trillion of U.S. Treasury debt, effectively covering more than half of the federal government’s red ink over that time.\nThat buying -- together with about $870 billion in purchases of mortgage-backed securities -- has flooded the financial markets with liquidity, contributing to a doubling of the stock market from its pandemic low.\n“It will be like crawling along a knife-edge ridge,” former Bank of England policy maker Charles Goodhart said of the task facing the Fed. “If you do too little you’ll find inflation will just go on accelerating. If you do too much you get into a financial crisis and a recession.”\nFed officials have said they want to see “substantial further progress” toward their goals of maximum employment and average 2% inflation before reducing current asset purchases of $120 billion per month. None are suggesting that they’re close to achieving that, though some have pressed for discussions to begin on a plan for tapering that buying.\nAs Powell has pointed out more than once, payrolls are still substantially below where they were pre-pandemic -- some 7.6 million jobs short, according to the May employment report. And while inflation recently has proven surprisingly rapid -- consumer prices climbed 5% in May from a year earlier -- Powell and other Fed officials have argued that the rise is mostly transitory, the result of temporary bottlenecks as the economy reopens and low readings a year ago when it shut down.\nPrice Pressures Heat Up\nU.S. core and headline inflation both increased more than forecast in May\n“Why would the Fed try to fix bottleneck-driven inflation by signaling earlier rate hikes and hitting demand?” Julia Coronado, president of MacroPolicy Perspectives, asked in a June 14 tweet.\nInstead, after years of falling short of their inflation goal, policy makers will “err on the side of patience” in scaling back stimulus, said former Fed official David Wilcox, who is now at the Peterson Institute for International Economics.\nPowell’s past and potential future also argue for patience. As a Fed governor in 2013, he was among those pushing then-Chairman Ben Bernanke to roll back quantitative easing, only to see the financial markets throw a “taper tantrum” at the mere suggestion such a policy shift was coming.\nWith his own term as Fed chair up next February, Powell has an extra incentive to avoid a repeat of such turbulence.\n“While the Fed is an independent institution, its leadership, up for reappointment next year, could not totally ignore the dim view the administration and Democratic Congress would take toward a shift to a more pre-emptive policy stance,” Deutsche Bank chief economist David Folkerts-Landau and colleagues wrote in a June 7 report.\nSome three-quarters of economists surveyed by Bloomberg last week said they expect the Fed to announce between August and year-end that it will begin paring its purchases, with one-third forecasting it won’t fire the starting gun until December.\nIt’s not just the timing of the taper that’s up for discussion. So too are its composition and pace.\nThe Fed has faced criticism from within and outside the organization for continuing to buy $40 billion of mortgage-backed securities per month while house prices are surging. Vice Chair Randal Quarles said last month that the Fed would “certainly” look at that issue in the context of its taper discussions.\nSteady Pace\nThe last time the Fed wound up a quantitative easing program, in 2014, it shrank its asset purchases at a steady pace.\n“Investors may be lulled into a false sense of security by that experience,” former Fed official William English told a June 8 Deutsche Bank webinar. Given all the uncertainty surrounding the post pandemic economy, “it’s not necessarily going to be the case that the Fed is going to taper in steady steps.”\nMuch may depend on the financial markets. American Enterprise Institute resident fellow Desmond Lachman said the ultra-easy monetary policy being pursued by the Fed and other major central banks has led to an “everything asset price bubble,” with stock, credit and housing markets all frothy.\n“The chance of the bubble bursting is all the greater if the Fed is behind the curve,” he said.\nEnglish, who is now at the Yale School of Management, said it’s going to be politically hard for the Fed to wind up its asset purchases and increase interest rates because that will boost the government’s borrowing costs.\n“The Fed is going to come under a lot of criticism for raising rates and making budget choices for the Congress considerably tougher,” he said, adding, “At some level, the Fed needs to both normalize policy but also normalize its relationship with the government.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":335,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185214225,"gmtCreate":1623652934867,"gmtModify":1634030606466,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Oh no!","listText":"Oh no!","text":"Oh no!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185214225","repostId":"2143789794","repostType":4,"repost":{"id":"2143789794","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623652879,"share":"https://www.laohu8.com/m/news/2143789794?lang=&edition=full","pubTime":"2021-06-14 14:41","market":"us","language":"en","title":"Philips recalls some 3-4 million \"CPAP\", ventilator machines due to foam part","url":"https://stock-news.laohu8.com/highlight/detail?id=2143789794","media":"Reuters","summary":"AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall v","content":"<p>AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall ventilators and \"CPAP\" breathing devices globally because of a foam part that might degrade and be inhaled.</p>\n<p>The company said that though the matter would cause \"revenue headwinds\" in its sleep &amp; respiratory care division, that would be compensated by strength in other businesses. It left its full year financial guidance of \"low-to-mid-single-digit\" comparable sales growth unchanged.</p>\n<p>Philips had first disclosed the issue, for which it then took a 250 million euro ($303 million) charge, in its first quarter-earnings report in April.</p>\n<p>The company's guidance is for users of the CPAP machines, which help people with sleep apnea, to halt usage. Doctors with patients using life-sustaining ventilators should first consider whether the potential danger from the foam outweighs other risks.</p>\n<p>The degrading foam, which is used to dampen the machines' sound, can turn into small, inhaled particles, irritating airways and potentially causing cancer, Philips said. Gasses released by the degrading foam may also be toxic or carry cancer risks.</p>\n<p>Philips spokesman Steve Klink said the company was working with health authorities on a safe replacement for the foam, but the new material must first clear testing and regulatory hurdles.</p>\n<p>\"Philips aims to address all affected devices\" as soon as possible, the company said in a statement.</p>\n<p>In April, Philips said first quarter core earnings surged 74% in the first quarter to 362 million euros ($438 million), compared with the same period a year earlier, on a 9% rise in comparable sales.</p>\n<p>Shares closed at 46.38 euros on Friday, up 1.6% in the year to date.</p>\n<p>($1 = 0.8263 euros)</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>Philips recalls some 3-4 million \"CPAP\", ventilator machines due to foam part</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\">\nPhilips recalls some 3-4 million \"CPAP\", ventilator machines due to foam part\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-14 14:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall ventilators and \"CPAP\" breathing devices globally because of a foam part that might degrade and be inhaled.</p>\n<p>The company said that though the matter would cause \"revenue headwinds\" in its sleep &amp; respiratory care division, that would be compensated by strength in other businesses. It left its full year financial guidance of \"low-to-mid-single-digit\" comparable sales growth unchanged.</p>\n<p>Philips had first disclosed the issue, for which it then took a 250 million euro ($303 million) charge, in its first quarter-earnings report in April.</p>\n<p>The company's guidance is for users of the CPAP machines, which help people with sleep apnea, to halt usage. Doctors with patients using life-sustaining ventilators should first consider whether the potential danger from the foam outweighs other risks.</p>\n<p>The degrading foam, which is used to dampen the machines' sound, can turn into small, inhaled particles, irritating airways and potentially causing cancer, Philips said. Gasses released by the degrading foam may also be toxic or carry cancer risks.</p>\n<p>Philips spokesman Steve Klink said the company was working with health authorities on a safe replacement for the foam, but the new material must first clear testing and regulatory hurdles.</p>\n<p>\"Philips aims to address all affected devices\" as soon as possible, the company said in a statement.</p>\n<p>In April, Philips said first quarter core earnings surged 74% in the first quarter to 362 million euros ($438 million), compared with the same period a year earlier, on a 9% rise in comparable sales.</p>\n<p>Shares closed at 46.38 euros on Friday, up 1.6% in the year to date.</p>\n<p>($1 = 0.8263 euros)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PHG":"飞利浦","0LNG.UK":"飞利浦"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2143789794","content_text":"AMSTERDAM (Reuters) - Philips, the Dutch medical equipment company, on Monday said it would recall ventilators and \"CPAP\" breathing devices globally because of a foam part that might degrade and be inhaled.\nThe company said that though the matter would cause \"revenue headwinds\" in its sleep & respiratory care division, that would be compensated by strength in other businesses. It left its full year financial guidance of \"low-to-mid-single-digit\" comparable sales growth unchanged.\nPhilips had first disclosed the issue, for which it then took a 250 million euro ($303 million) charge, in its first quarter-earnings report in April.\nThe company's guidance is for users of the CPAP machines, which help people with sleep apnea, to halt usage. Doctors with patients using life-sustaining ventilators should first consider whether the potential danger from the foam outweighs other risks.\nThe degrading foam, which is used to dampen the machines' sound, can turn into small, inhaled particles, irritating airways and potentially causing cancer, Philips said. Gasses released by the degrading foam may also be toxic or carry cancer risks.\nPhilips spokesman Steve Klink said the company was working with health authorities on a safe replacement for the foam, but the new material must first clear testing and regulatory hurdles.\n\"Philips aims to address all affected devices\" as soon as possible, the company said in a statement.\nIn April, Philips said first quarter core earnings surged 74% in the first quarter to 362 million euros ($438 million), compared with the same period a year earlier, on a 9% rise in comparable sales.\nShares closed at 46.38 euros on Friday, up 1.6% in the year to date.\n($1 = 0.8263 euros)","news_type":1},"isVote":1,"tweetType":1,"viewCount":458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185215445,"gmtCreate":1623652885087,"gmtModify":1634030607279,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"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/185215445","repostId":"1146430910","repostType":4,"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185214328,"gmtCreate":1623652907864,"gmtModify":1634030606812,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Good info","listText":"Good info","text":"Good info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185214328","repostId":"1141995531","repostType":4,"repost":{"id":"1141995531","kind":"news","pubTimestamp":1623652578,"share":"https://www.laohu8.com/m/news/1141995531?lang=&edition=full","pubTime":"2021-06-14 14:36","market":"us","language":"en","title":"PayPal: One Of The Best Plays On The Secular Growth Trend Of Digital Payments","url":"https://stock-news.laohu8.com/highlight/detail?id=1141995531","media":"seekingalpha","summary":"Summary\n\nPayPal is a leading fintech company that benefits immensely from the secular growth trend i","content":"<p><b>Summary</b></p>\n<ul>\n <li>PayPal is a leading fintech company that benefits immensely from the secular growth trend in the digital payments industry.</li>\n <li>Its growth history is impressive and momentum is not showing any sign of slowing down, making its 2025 targets quite achievable.</li>\n <li>The premium valuation to Visa or Mastercard is justified and PayPal is now my largest holding in the digital payments theme.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa4976c13e5ffab4c5035b08d60831ed\" tg-width=\"768\" tg-height=\"512\"><span>JasonDoiy/iStock Unreleased via Getty Images</span></p>\n<p><b>PayPal</b>(PYPL) is a compelling long-term play on the secular growth trend of digital payments as the company’s growth path is likely to remain quite strong over the next few years.</p>\n<p><b>Company Profile</b></p>\n<p>PayPal Holdings Inc. is a leading fintech company that enables digital and mobile payments through its technology platform. Its major competitors are other payment technology companies, such as<b>Visa</b>(V),<b>Mastercard</b>(MA) or<b>Adyen</b>(OTCPK:ADYEY). It currently has a market capitalization of about $309 billion, a smaller value than MasterCard or Visa.</p>\n<p>PayPal’s core business is the offering of payment solutions to merchants and consumers, operating globally. At the end of 2020, it had about 377 million active accounts, of which some 348 million consumer accounts and 29 million merchant accounts, more than double the number of active accounts at the end of 2015.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/45f478cd622b0c634fd146fdf46bf0ef\" tg-width=\"747\" tg-height=\"432\"><span>Source: PayPal.</span></p>\n<p>The company’s revenue stream comes mainly from charging fees for some completed payment transactions, while generally it does not charge consumers to fund or withdraw money from their PayPal account. It also generates revenues from currency conversion and instant transfers from the PayPal or Venmo accounts to debit cards or bank accounts. For its merchant clients, it also offers access to certain credit products for small and medium-sized merchants, increasing its engagement its clients and providing finance for clients that possibly would not get loans from traditional banks or other lending providers.</p>\n<p><b>Secular Growth</b></p>\n<p>As I’ve analyzed in a previous article on “Visa: Despite Earnings Dip, Secular Growth Prospects Remain Strong,” the global payments industry has a very good growth track record and future growth prospects are quite strong.</p>\n<p>During the past few years, consumers and businesses have increasingly adopted new payment methods beyond cash and the rise of e-commerce has also been an important growth driver of digital payments across the globe. Revenues for the industry have grown roughly at 7% per year over recent years, to a total of just under $2 trillion in 2019, according to McKinsey data, and this growth is only expected to accelerate in the future as digital payments continue to increase their market share as a percentage of total banking revenues.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27b37a2ed30f39bff844ae07aa49ac5\" tg-width=\"372\" tg-height=\"395\"><span>Source: McKinsey.</span></p>\n<p>This background has been very supportive for PayPal’s growth prospects, as one of the leading companies in this industry. Indeed, PayPal’s revenues have increased at a compounded annual growth rate [CAGR] of 20.8% during the past five years, a much higher growth rate than the global payments industry and also above its largest competitors like Visa and MasterCard.</p>\n<p>Moreover, while recently the growth path of digital payments has changed due to the coronavirus pandemic, that has affected negatively the growth of the global payments industry, PayPal has remained on a strong growth path because its business is clearly more exposed to digital transactions rather than physical payments. This means that the pandemic has barely impacted its business, while it has been a significant setback for other companies, such as&nbsp;<b>American Express</b>&nbsp;(AXP) or MasterCard that are more exposed to cross-border transactions.</p>\n<p>Nevertheless, the Covid-19 seems to be positive for the long-term growth of the industry because digital payments became more adopted last year and people will likely use less cash for payment transactions in the future, accelerating even further the growth of digital payments across the world.</p>\n<p>Over the next few years, growth is expected to resume quite rapidly and should even be higher than in the recent past. According to Mordor Intelligence, the global digital payments industry is expected to have a revenue CAGR of 13.7% during 2021-26, which is almost double the growth in recent years. This clearly shows that digital payments is a secular growth industry, being a very good backdrop for the companies operating in this industry for years to come.</p>\n<p>Taking this environment into account, PayPal is clearly in a very good position to maintain a solid growth path for many years to come, being potentially one of the major winners of the global shift to digital payments and e-commerce.</p>\n<p>Taking this background into account, it is not surprising that PayPal has strong growth ambitions for the coming years, aiming to generate more than $50 billion in revenue by 2025 (more than double the 2020 revenues) both from growth of its existing business, higher customer engagement and new offerings that will increase PayPal’s total addressable market.</p>\n<p>PayPal expects to double the number of active accounts over the next five years and triple the volumes transacted, which seems to be achievable considering its growth history and the strong growth prospects of the global payments industry.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/828bae36490c031b69fcf87de3ef91a8\" tg-width=\"640\" tg-height=\"341\"><span>Source: PayPal.</span></p>\n<p>This means that $50 billion in revenue by 2025 represents CAGR of about 20% during 2020-25, showing that PayPal has very good growth prospects in coming years. Moreover, as the company expects to improve a little bit its business margins during this period, its earnings are expected to increase at CAGR of 22% over the next five years and generate more than $40 billion in free cash flow.</p>\n<p><b>Financial Overview</b></p>\n<p>Regarding its financial performance, PayPal has a very good track record with revenues and earnings growing quite rapidly over the past few years. Indeed, from 201 to 2020, PayPal’s revenues increased at a CAGR of around 20% and its earnings increased at CAGR of 31%, a very impressive achievement and much better than established peers like Visa and MasterCard.</p>\n<p>More recently, the company’s growth was not interrupted by the coronavirus as the secular growth trends of e-commerce and cash displacement accelerated with the pandemic, being a very strong tailwind for the company’s growth.</p>\n<p>In 2020, PayPal recorded record financial figures regarding its revenues, volumes, net new active accounts and earnings. Indeed, PayPal’s revenues increased by 20.8% YoY to $21.5 billion, a level that is very close to Visa’s annual revenues showing that PayPal has achieved a very large size despite being a much younger company. Beyond higher revenues, its business margins and free cash flow generation also improved, a very good performance compared to its peers that rely more on debit and credit card payments.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a6b1369e32917090ea7cdb92b9a2fe8a\" tg-width=\"772\" tg-height=\"359\"><span>Source: PayPal.</span></p>\n<p>This positive financial performance was justified by the shift to online shopping and transactions due to Covid-19, but also due to PayPal’s new offerings such as the option to buy and hold digital currencies during the last quarter of the year. Its net income amounted to $4.2 billion, an increase of 70% YoY, boosted by organic growth and gains on some investments and its free cash flow was about $5 billion, or 23% of revenue, which shows that PayPal has a very good cash flow generation capacity.</p>\n<p>During thefirst quarter of 2021, PayPal has maintained an impressive operating momentum with volumes up by 50% YoY and revenue up by 31% YoY. Active accounts grew by 21% to 392 million, while it added 14.5 million net new accounts during the quarter. Its operating margin improved to 27.7% (non-GAAP) and non-GAAP EPS grew by 84% YoY and free cash flow amounted to $1.54 billion or 25% of its quarterly revenue.</p>\n<p>For the full year 2021, its guidance was revised upwards with Q1 earnings and PayPal now expects to grow revenues to about $25.7 billion, which represents annual growth of about 20% in constant currencies, EPS growth around 21% YoY and about $6 billion in free cash flow.</p>\n<p>This clearly shows that PayPal’s growth momentum is not showing any sign of slowdown over the coming quarters, boding quite well to reach its 2025 targets probably ahead of schedule if it continues to grow at this pace.</p>\n<p>However, this is not currently expected from the sell-side, given that according toanalysts’ estimates, revenue growth is expected to be around 20-21% during the next 2-3 years and then slow down a little bit to less than 20% in 2024 and 2025. This is in-line with PayPal’s own targets, which means that there is some potential upside to estimates if it continues to execute well on its growth initiatives during the next few years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9ee830ca42c6ed20907df39e8c28786b\" tg-width=\"902\" tg-height=\"250\"><span>Source: SeekingAlpha.</span></p>\n<p>Regarding its capital allocation, PayPal’s has used its cash flow generation capacity to finance several acquisitions and repurchase its own shares, while capex spending has been relatively limited as expected for a technology company that operates digitally. Going forward, this strategy is not expected to change much as PayPal should continue to invest in fintech innovation through PayPal Ventures, while share buybacks will be the main way to return capital to shareholders even though the company may decide to start distributing dividends in the coming years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/530c58f1461ce1f7eefb7856a4ef2d05\" tg-width=\"563\" tg-height=\"318\"><span>Source: PayPal.</span></p>\n<p><b>Conclusion</b></p>\n<p>PayPal has a very good business and its growth prospects are very strong, both from industry tailwinds and its own growth initiatives. I think this is one of the best ways to play the secular growth trend of digital payments, as PayPal’s business model is completely focused on digital channels while its closest competitors Visa or Mastercard still rely significantly in physical transactions.</p>\n<p>This profile justifies PayPal’s premium valuation, considering that it is currentlytrading at about 57x forward earnings, while Visa and Mastercard are trading at between 42-47x earnings. Regarding my personal portfolio, I’ve recently rebalanced my positions and PayPal is now my largest holding on the digital payments theme, as I see this company as a very compelling long-term play in this industry.</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>PayPal: One Of The Best Plays On The Secular Growth Trend Of Digital Payments</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\">\nPayPal: One Of The Best Plays On The Secular Growth Trend Of Digital Payments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-14 14:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4434455-paypal-best-play-on-secular-growth-trend-of-digital-payments><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nPayPal is a leading fintech company that benefits immensely from the secular growth trend in the digital payments industry.\nIts growth history is impressive and momentum is not showing any ...</p>\n\n<a href=\"https://seekingalpha.com/article/4434455-paypal-best-play-on-secular-growth-trend-of-digital-payments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://seekingalpha.com/article/4434455-paypal-best-play-on-secular-growth-trend-of-digital-payments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141995531","content_text":"Summary\n\nPayPal is a leading fintech company that benefits immensely from the secular growth trend in the digital payments industry.\nIts growth history is impressive and momentum is not showing any sign of slowing down, making its 2025 targets quite achievable.\nThe premium valuation to Visa or Mastercard is justified and PayPal is now my largest holding in the digital payments theme.\n\nJasonDoiy/iStock Unreleased via Getty Images\nPayPal(PYPL) is a compelling long-term play on the secular growth trend of digital payments as the company’s growth path is likely to remain quite strong over the next few years.\nCompany Profile\nPayPal Holdings Inc. is a leading fintech company that enables digital and mobile payments through its technology platform. Its major competitors are other payment technology companies, such asVisa(V),Mastercard(MA) orAdyen(OTCPK:ADYEY). It currently has a market capitalization of about $309 billion, a smaller value than MasterCard or Visa.\nPayPal’s core business is the offering of payment solutions to merchants and consumers, operating globally. At the end of 2020, it had about 377 million active accounts, of which some 348 million consumer accounts and 29 million merchant accounts, more than double the number of active accounts at the end of 2015.\nSource: PayPal.\nThe company’s revenue stream comes mainly from charging fees for some completed payment transactions, while generally it does not charge consumers to fund or withdraw money from their PayPal account. It also generates revenues from currency conversion and instant transfers from the PayPal or Venmo accounts to debit cards or bank accounts. For its merchant clients, it also offers access to certain credit products for small and medium-sized merchants, increasing its engagement its clients and providing finance for clients that possibly would not get loans from traditional banks or other lending providers.\nSecular Growth\nAs I’ve analyzed in a previous article on “Visa: Despite Earnings Dip, Secular Growth Prospects Remain Strong,” the global payments industry has a very good growth track record and future growth prospects are quite strong.\nDuring the past few years, consumers and businesses have increasingly adopted new payment methods beyond cash and the rise of e-commerce has also been an important growth driver of digital payments across the globe. Revenues for the industry have grown roughly at 7% per year over recent years, to a total of just under $2 trillion in 2019, according to McKinsey data, and this growth is only expected to accelerate in the future as digital payments continue to increase their market share as a percentage of total banking revenues.\nSource: McKinsey.\nThis background has been very supportive for PayPal’s growth prospects, as one of the leading companies in this industry. Indeed, PayPal’s revenues have increased at a compounded annual growth rate [CAGR] of 20.8% during the past five years, a much higher growth rate than the global payments industry and also above its largest competitors like Visa and MasterCard.\nMoreover, while recently the growth path of digital payments has changed due to the coronavirus pandemic, that has affected negatively the growth of the global payments industry, PayPal has remained on a strong growth path because its business is clearly more exposed to digital transactions rather than physical payments. This means that the pandemic has barely impacted its business, while it has been a significant setback for other companies, such as American Express (AXP) or MasterCard that are more exposed to cross-border transactions.\nNevertheless, the Covid-19 seems to be positive for the long-term growth of the industry because digital payments became more adopted last year and people will likely use less cash for payment transactions in the future, accelerating even further the growth of digital payments across the world.\nOver the next few years, growth is expected to resume quite rapidly and should even be higher than in the recent past. According to Mordor Intelligence, the global digital payments industry is expected to have a revenue CAGR of 13.7% during 2021-26, which is almost double the growth in recent years. This clearly shows that digital payments is a secular growth industry, being a very good backdrop for the companies operating in this industry for years to come.\nTaking this environment into account, PayPal is clearly in a very good position to maintain a solid growth path for many years to come, being potentially one of the major winners of the global shift to digital payments and e-commerce.\nTaking this background into account, it is not surprising that PayPal has strong growth ambitions for the coming years, aiming to generate more than $50 billion in revenue by 2025 (more than double the 2020 revenues) both from growth of its existing business, higher customer engagement and new offerings that will increase PayPal’s total addressable market.\nPayPal expects to double the number of active accounts over the next five years and triple the volumes transacted, which seems to be achievable considering its growth history and the strong growth prospects of the global payments industry.\nSource: PayPal.\nThis means that $50 billion in revenue by 2025 represents CAGR of about 20% during 2020-25, showing that PayPal has very good growth prospects in coming years. Moreover, as the company expects to improve a little bit its business margins during this period, its earnings are expected to increase at CAGR of 22% over the next five years and generate more than $40 billion in free cash flow.\nFinancial Overview\nRegarding its financial performance, PayPal has a very good track record with revenues and earnings growing quite rapidly over the past few years. Indeed, from 201 to 2020, PayPal’s revenues increased at a CAGR of around 20% and its earnings increased at CAGR of 31%, a very impressive achievement and much better than established peers like Visa and MasterCard.\nMore recently, the company’s growth was not interrupted by the coronavirus as the secular growth trends of e-commerce and cash displacement accelerated with the pandemic, being a very strong tailwind for the company’s growth.\nIn 2020, PayPal recorded record financial figures regarding its revenues, volumes, net new active accounts and earnings. Indeed, PayPal’s revenues increased by 20.8% YoY to $21.5 billion, a level that is very close to Visa’s annual revenues showing that PayPal has achieved a very large size despite being a much younger company. Beyond higher revenues, its business margins and free cash flow generation also improved, a very good performance compared to its peers that rely more on debit and credit card payments.\nSource: PayPal.\nThis positive financial performance was justified by the shift to online shopping and transactions due to Covid-19, but also due to PayPal’s new offerings such as the option to buy and hold digital currencies during the last quarter of the year. Its net income amounted to $4.2 billion, an increase of 70% YoY, boosted by organic growth and gains on some investments and its free cash flow was about $5 billion, or 23% of revenue, which shows that PayPal has a very good cash flow generation capacity.\nDuring thefirst quarter of 2021, PayPal has maintained an impressive operating momentum with volumes up by 50% YoY and revenue up by 31% YoY. Active accounts grew by 21% to 392 million, while it added 14.5 million net new accounts during the quarter. Its operating margin improved to 27.7% (non-GAAP) and non-GAAP EPS grew by 84% YoY and free cash flow amounted to $1.54 billion or 25% of its quarterly revenue.\nFor the full year 2021, its guidance was revised upwards with Q1 earnings and PayPal now expects to grow revenues to about $25.7 billion, which represents annual growth of about 20% in constant currencies, EPS growth around 21% YoY and about $6 billion in free cash flow.\nThis clearly shows that PayPal’s growth momentum is not showing any sign of slowdown over the coming quarters, boding quite well to reach its 2025 targets probably ahead of schedule if it continues to grow at this pace.\nHowever, this is not currently expected from the sell-side, given that according toanalysts’ estimates, revenue growth is expected to be around 20-21% during the next 2-3 years and then slow down a little bit to less than 20% in 2024 and 2025. This is in-line with PayPal’s own targets, which means that there is some potential upside to estimates if it continues to execute well on its growth initiatives during the next few years.\nSource: SeekingAlpha.\nRegarding its capital allocation, PayPal’s has used its cash flow generation capacity to finance several acquisitions and repurchase its own shares, while capex spending has been relatively limited as expected for a technology company that operates digitally. Going forward, this strategy is not expected to change much as PayPal should continue to invest in fintech innovation through PayPal Ventures, while share buybacks will be the main way to return capital to shareholders even though the company may decide to start distributing dividends in the coming years.\nSource: PayPal.\nConclusion\nPayPal has a very good business and its growth prospects are very strong, both from industry tailwinds and its own growth initiatives. I think this is one of the best ways to play the secular growth trend of digital payments, as PayPal’s business model is completely focused on digital channels while its closest competitors Visa or Mastercard still rely significantly in physical transactions.\nThis profile justifies PayPal’s premium valuation, considering that it is currentlytrading at about 57x forward earnings, while Visa and Mastercard are trading at between 42-47x earnings. Regarding my personal portfolio, I’ve recently rebalanced my positions and PayPal is now my largest holding on the digital payments theme, as I see this company as a very compelling long-term play in this industry.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186974421,"gmtCreate":1623471511163,"gmtModify":1634032682652,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186974421","repostId":"2142744202","repostType":4,"repost":{"id":"2142744202","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623452760,"share":"https://www.laohu8.com/m/news/2142744202?lang=&edition=full","pubTime":"2021-06-12 07:06","market":"hk","language":"en","title":"How oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy","url":"https://stock-news.laohu8.com/highlight/detail?id=2142744202","media":"Dow Jones","summary":"If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n\nOi","content":"<blockquote>\n If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n</blockquote>\n<p>Oil companies often find religion in the wake of a boom-and-bust cycle, including after last year when crude prices crashed into negative territory for the first time on record.</p>\n<p>But with oil prices recently back near $70 a barrel, and some analysts speculating on the return to $100 during the COVID recovery, investors fear wildcatting and other risky financial behavior by energy companies will make a comeback.</p>\n<p>\"We lost a lot of our weakest companies,\" Andrew Feltus, co-director of high-yield at Amundi US, said of the ripple effects of oil futures going negative in April 2020 as demand collapsed with the first waves of COVID outbreaks and oil-producing giants Saudi Arabia and Russia waged an ugly price war.</p>\n<p>\"No <a href=\"https://laohu8.com/S/AONE\">one</a> can exist in that type of situation for long,\" Feltus told MarketWatch. \"If you don't have enough money to survive, you are gone.\"</p>\n<p>Company executives took those lessons for the U.S. energy complex to heart after pandemic shutdowns depressed oil demand and, for a period, led to higher borrowing costs in the sector. It also led to greater prudence.</p>\n<p>But there's no telling how long the latest stretch of \"good\" energy company behavior -- actions preferred by their risk-wary lenders and investors -- will last. That's particularly true if prices shoot dramatically higher and breach $100 a barrel.</p>\n<p>As Feltus said, \"$50 oil is the price we want. $70 is just gravy. With $100 oil, they will be dancing in the streets of Dallas.\"</p>\n<p>Prices for U.S. benchmark West Texas Intermediate crude for July delivery were near $70.75 a barrel on the New York Mercantile Exchange on Friday and headed for a weekly rise of about 1.7%.</p>\n<p>This chart tracks the plunge and recovery of WTI since April 2020, with the red line highlighting the stretch in which prices stayed below $40 a barrel.</p>\n<p><b>Keeping up?</b></p>\n<p>Prices saw a boost Friday from the International Energy Agency, which said global oil demand would return to pre-COVID-19 pandemic levels by the end of next year.</p>\n<p>IEA also forecast demand to reach 100.6 million barrels a day by the end of 2022, while indicating that producers will need to boost output to keep up with demand.</p>\n<p>The changing landscape for oil, including the increased focus by investors and the Biden administration on encouraging more environmentally sustainable practices, comes as a U.S. rig count has hovered at about half of pre-COVID levels, said Steve Repoff, portfolio manager at GW&amp;K Investment.</p>\n<p>Read:Climate-change pressure builds on Big Oil after activist wins Exxon board seats, court ruling hits Shell</p>\n<p>But that's not without its own set of concerns as vaccinations in the U.S. increase, demand for oil climbs and the economy opens more broadly, including over the summer. And the post-COVID travel season could turn costly for drivers.</p>\n<p>\"It seems these companies, for now, have demonstrated capital discipline, in a sector notorious for being unable to display capital discipline,\" Repoff told MarketWatch.</p>\n<p>\"But if we see demand of 100 million barrels a day return, that feels very ominous to me,\" he said, adding that it's unclear if U.S. producers will struggle to ramp up production.</p>\n<p>\"What if all the best shale, in aggregate, has been drilled already?\" Repoff said, while explaining how higher oil prices can be good for the oil industry, but also deflationary, even as the Federal Reserve expects the cost of living in America to overshoot its 2% inflation target for awhile during the recovery.</p>\n<p>\"When applied to the broader economy, it's effectively a tax on businesses and consumers, and at the systemwide level is ultimately deflationary,\" Repoff said of booming oil prices.</p>\n<p><b>$100 oil is a mixed blessing</b></p>\n<p>It took no time for COVID shutdowns to rattle the booming U.S. high-yield bond market last year, with defaults quickly jumping to a 10-year high of almost 5% and helping prompt the Fed to launch its first program ever of buying up corporate debt.</p>\n<p>Recently, as the sector has recovered, including with yields on the overall ICE BofA U.S. High Yield Index plunging near all-time lows of 4.1% , the Fed said it would sell its remaining corporate bond exposure.</p>\n<p>As a result, the so-called \"junk-bond\" market ended up with its highest-quality mix of companies by credit rating in at least a decade, but perhaps even 20 to 30 years, according to Feltus at Amundi, even while energy remains the sector's biggest exposure at about 13% of its benchmark high-yield index. That compares with a roughly 3% slice for energy in the S&amp;P 500 index, leaving investors in it grappling with swings in exposure.</p>\n<p>While energy has long been a key part of the U.S. high-yield market, oil booms haven't always been great over the long run for bond investors who help finance the sector.</p>\n<p>\"History says it depends on what else is going on in the market,\" said Marty Fridson, chief investment officer at Lehmann Livian Fridson Advisors, particularly when oil prices rise and fall around times of economic crisis.</p>\n<p>Starting in the summer of 2007, oil prices quickly advanced over eight months from $70.68 on June 29 to $101.84 on Feb. 29, 2008. But when Fridson looked at how the energy component fared over that stretch, it outperformed the ICE BofA US High Yield Index, returning 3.88% compared to negative 3.32%.</p>\n<p>Then, in the more protracted recovery phase, oil went from $70.61 on Sept. 30, 2009, to $96.07 on Feb. 28, 2011, while energy underperformed the index, 23.57% to 26.38%.</p>\n<p>Amundi's Feltus also pointed out that companies \"got religion for like six to 12 months of discipline,\" after each recent oil bust. \"This time breaks the record. But we can't let up the pressure.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow oil soaring to $100 a barrel could be bad for this boom-bust sector and the economy\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/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-12 07:06</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n</blockquote>\n<p>Oil companies often find religion in the wake of a boom-and-bust cycle, including after last year when crude prices crashed into negative territory for the first time on record.</p>\n<p>But with oil prices recently back near $70 a barrel, and some analysts speculating on the return to $100 during the COVID recovery, investors fear wildcatting and other risky financial behavior by energy companies will make a comeback.</p>\n<p>\"We lost a lot of our weakest companies,\" Andrew Feltus, co-director of high-yield at Amundi US, said of the ripple effects of oil futures going negative in April 2020 as demand collapsed with the first waves of COVID outbreaks and oil-producing giants Saudi Arabia and Russia waged an ugly price war.</p>\n<p>\"No <a href=\"https://laohu8.com/S/AONE\">one</a> can exist in that type of situation for long,\" Feltus told MarketWatch. \"If you don't have enough money to survive, you are gone.\"</p>\n<p>Company executives took those lessons for the U.S. energy complex to heart after pandemic shutdowns depressed oil demand and, for a period, led to higher borrowing costs in the sector. It also led to greater prudence.</p>\n<p>But there's no telling how long the latest stretch of \"good\" energy company behavior -- actions preferred by their risk-wary lenders and investors -- will last. That's particularly true if prices shoot dramatically higher and breach $100 a barrel.</p>\n<p>As Feltus said, \"$50 oil is the price we want. $70 is just gravy. With $100 oil, they will be dancing in the streets of Dallas.\"</p>\n<p>Prices for U.S. benchmark West Texas Intermediate crude for July delivery were near $70.75 a barrel on the New York Mercantile Exchange on Friday and headed for a weekly rise of about 1.7%.</p>\n<p>This chart tracks the plunge and recovery of WTI since April 2020, with the red line highlighting the stretch in which prices stayed below $40 a barrel.</p>\n<p><b>Keeping up?</b></p>\n<p>Prices saw a boost Friday from the International Energy Agency, which said global oil demand would return to pre-COVID-19 pandemic levels by the end of next year.</p>\n<p>IEA also forecast demand to reach 100.6 million barrels a day by the end of 2022, while indicating that producers will need to boost output to keep up with demand.</p>\n<p>The changing landscape for oil, including the increased focus by investors and the Biden administration on encouraging more environmentally sustainable practices, comes as a U.S. rig count has hovered at about half of pre-COVID levels, said Steve Repoff, portfolio manager at GW&amp;K Investment.</p>\n<p>Read:Climate-change pressure builds on Big Oil after activist wins Exxon board seats, court ruling hits Shell</p>\n<p>But that's not without its own set of concerns as vaccinations in the U.S. increase, demand for oil climbs and the economy opens more broadly, including over the summer. And the post-COVID travel season could turn costly for drivers.</p>\n<p>\"It seems these companies, for now, have demonstrated capital discipline, in a sector notorious for being unable to display capital discipline,\" Repoff told MarketWatch.</p>\n<p>\"But if we see demand of 100 million barrels a day return, that feels very ominous to me,\" he said, adding that it's unclear if U.S. producers will struggle to ramp up production.</p>\n<p>\"What if all the best shale, in aggregate, has been drilled already?\" Repoff said, while explaining how higher oil prices can be good for the oil industry, but also deflationary, even as the Federal Reserve expects the cost of living in America to overshoot its 2% inflation target for awhile during the recovery.</p>\n<p>\"When applied to the broader economy, it's effectively a tax on businesses and consumers, and at the systemwide level is ultimately deflationary,\" Repoff said of booming oil prices.</p>\n<p><b>$100 oil is a mixed blessing</b></p>\n<p>It took no time for COVID shutdowns to rattle the booming U.S. high-yield bond market last year, with defaults quickly jumping to a 10-year high of almost 5% and helping prompt the Fed to launch its first program ever of buying up corporate debt.</p>\n<p>Recently, as the sector has recovered, including with yields on the overall ICE BofA U.S. High Yield Index plunging near all-time lows of 4.1% , the Fed said it would sell its remaining corporate bond exposure.</p>\n<p>As a result, the so-called \"junk-bond\" market ended up with its highest-quality mix of companies by credit rating in at least a decade, but perhaps even 20 to 30 years, according to Feltus at Amundi, even while energy remains the sector's biggest exposure at about 13% of its benchmark high-yield index. That compares with a roughly 3% slice for energy in the S&amp;P 500 index, leaving investors in it grappling with swings in exposure.</p>\n<p>While energy has long been a key part of the U.S. high-yield market, oil booms haven't always been great over the long run for bond investors who help finance the sector.</p>\n<p>\"History says it depends on what else is going on in the market,\" said Marty Fridson, chief investment officer at Lehmann Livian Fridson Advisors, particularly when oil prices rise and fall around times of economic crisis.</p>\n<p>Starting in the summer of 2007, oil prices quickly advanced over eight months from $70.68 on June 29 to $101.84 on Feb. 29, 2008. But when Fridson looked at how the energy component fared over that stretch, it outperformed the ICE BofA US High Yield Index, returning 3.88% compared to negative 3.32%.</p>\n<p>Then, in the more protracted recovery phase, oil went from $70.61 on Sept. 30, 2009, to $96.07 on Feb. 28, 2011, while energy underperformed the index, 23.57% to 26.38%.</p>\n<p>Amundi's Feltus also pointed out that companies \"got religion for like six to 12 months of discipline,\" after each recent oil bust. \"This time breaks the record. But we can't let up the pressure.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142744202","content_text":"If demand returns to 100 million barrels a day, 'that feels very ominous to me,' debt pro warns.\n\nOil companies often find religion in the wake of a boom-and-bust cycle, including after last year when crude prices crashed into negative territory for the first time on record.\nBut with oil prices recently back near $70 a barrel, and some analysts speculating on the return to $100 during the COVID recovery, investors fear wildcatting and other risky financial behavior by energy companies will make a comeback.\n\"We lost a lot of our weakest companies,\" Andrew Feltus, co-director of high-yield at Amundi US, said of the ripple effects of oil futures going negative in April 2020 as demand collapsed with the first waves of COVID outbreaks and oil-producing giants Saudi Arabia and Russia waged an ugly price war.\n\"No one can exist in that type of situation for long,\" Feltus told MarketWatch. \"If you don't have enough money to survive, you are gone.\"\nCompany executives took those lessons for the U.S. energy complex to heart after pandemic shutdowns depressed oil demand and, for a period, led to higher borrowing costs in the sector. It also led to greater prudence.\nBut there's no telling how long the latest stretch of \"good\" energy company behavior -- actions preferred by their risk-wary lenders and investors -- will last. That's particularly true if prices shoot dramatically higher and breach $100 a barrel.\nAs Feltus said, \"$50 oil is the price we want. $70 is just gravy. With $100 oil, they will be dancing in the streets of Dallas.\"\nPrices for U.S. benchmark West Texas Intermediate crude for July delivery were near $70.75 a barrel on the New York Mercantile Exchange on Friday and headed for a weekly rise of about 1.7%.\nThis chart tracks the plunge and recovery of WTI since April 2020, with the red line highlighting the stretch in which prices stayed below $40 a barrel.\nKeeping up?\nPrices saw a boost Friday from the International Energy Agency, which said global oil demand would return to pre-COVID-19 pandemic levels by the end of next year.\nIEA also forecast demand to reach 100.6 million barrels a day by the end of 2022, while indicating that producers will need to boost output to keep up with demand.\nThe changing landscape for oil, including the increased focus by investors and the Biden administration on encouraging more environmentally sustainable practices, comes as a U.S. rig count has hovered at about half of pre-COVID levels, said Steve Repoff, portfolio manager at GW&K Investment.\nRead:Climate-change pressure builds on Big Oil after activist wins Exxon board seats, court ruling hits Shell\nBut that's not without its own set of concerns as vaccinations in the U.S. increase, demand for oil climbs and the economy opens more broadly, including over the summer. And the post-COVID travel season could turn costly for drivers.\n\"It seems these companies, for now, have demonstrated capital discipline, in a sector notorious for being unable to display capital discipline,\" Repoff told MarketWatch.\n\"But if we see demand of 100 million barrels a day return, that feels very ominous to me,\" he said, adding that it's unclear if U.S. producers will struggle to ramp up production.\n\"What if all the best shale, in aggregate, has been drilled already?\" Repoff said, while explaining how higher oil prices can be good for the oil industry, but also deflationary, even as the Federal Reserve expects the cost of living in America to overshoot its 2% inflation target for awhile during the recovery.\n\"When applied to the broader economy, it's effectively a tax on businesses and consumers, and at the systemwide level is ultimately deflationary,\" Repoff said of booming oil prices.\n$100 oil is a mixed blessing\nIt took no time for COVID shutdowns to rattle the booming U.S. high-yield bond market last year, with defaults quickly jumping to a 10-year high of almost 5% and helping prompt the Fed to launch its first program ever of buying up corporate debt.\nRecently, as the sector has recovered, including with yields on the overall ICE BofA U.S. High Yield Index plunging near all-time lows of 4.1% , the Fed said it would sell its remaining corporate bond exposure.\nAs a result, the so-called \"junk-bond\" market ended up with its highest-quality mix of companies by credit rating in at least a decade, but perhaps even 20 to 30 years, according to Feltus at Amundi, even while energy remains the sector's biggest exposure at about 13% of its benchmark high-yield index. That compares with a roughly 3% slice for energy in the S&P 500 index, leaving investors in it grappling with swings in exposure.\nWhile energy has long been a key part of the U.S. high-yield market, oil booms haven't always been great over the long run for bond investors who help finance the sector.\n\"History says it depends on what else is going on in the market,\" said Marty Fridson, chief investment officer at Lehmann Livian Fridson Advisors, particularly when oil prices rise and fall around times of economic crisis.\nStarting in the summer of 2007, oil prices quickly advanced over eight months from $70.68 on June 29 to $101.84 on Feb. 29, 2008. But when Fridson looked at how the energy component fared over that stretch, it outperformed the ICE BofA US High Yield Index, returning 3.88% compared to negative 3.32%.\nThen, in the more protracted recovery phase, oil went from $70.61 on Sept. 30, 2009, to $96.07 on Feb. 28, 2011, while energy underperformed the index, 23.57% to 26.38%.\nAmundi's Feltus also pointed out that companies \"got religion for like six to 12 months of discipline,\" after each recent oil bust. \"This time breaks the record. But we can't let up the pressure.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":224,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186978096,"gmtCreate":1623471276015,"gmtModify":1634032686910,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186978096","repostId":"2142202662","repostType":4,"repost":{"id":"2142202662","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1623445218,"share":"https://www.laohu8.com/m/news/2142202662?lang=&edition=full","pubTime":"2021-06-12 05:00","market":"us","language":"en","title":"G7 leaders will endorse proposed 15% global corporate minimum tax -White House","url":"https://stock-news.laohu8.com/highlight/detail?id=2142202662","media":"Reuters","summary":"WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden'","content":"<p>WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> on Friday.</p>\n<p>The U.S. Treasury in May proposed a global minimum corporate tax of at least 15% to try to end a downward spiral of corporate tax rates and deter multinational companies from shifting profits to tax-haven countries.</p>\n<p>(Reporting by Eric Beech; Editing by Mohammad Zargham)</p>\n<p>((eric.beech@thomsonreuters.com; 202-898-8322; Reuters Messaging: eric.beech.reuters.com@reuters.net))</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>G7 leaders will endorse proposed 15% global corporate minimum tax -White House</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\">\nG7 leaders will endorse proposed 15% global corporate minimum tax -White House\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-12 05:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> on Friday.</p>\n<p>The U.S. Treasury in May proposed a global minimum corporate tax of at least 15% to try to end a downward spiral of corporate tax rates and deter multinational companies from shifting profits to tax-haven countries.</p>\n<p>(Reporting by Eric Beech; Editing by Mohammad Zargham)</p>\n<p>((eric.beech@thomsonreuters.com; 202-898-8322; Reuters Messaging: eric.beech.reuters.com@reuters.net))</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142202662","content_text":"WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on Twitter on Friday.\nThe U.S. Treasury in May proposed a global minimum corporate tax of at least 15% to try to end a downward spiral of corporate tax rates and deter multinational companies from shifting profits to tax-haven countries.\n(Reporting by Eric Beech; Editing by Mohammad Zargham)\n((eric.beech@thomsonreuters.com; 202-898-8322; Reuters Messaging: eric.beech.reuters.com@reuters.net))","news_type":1},"isVote":1,"tweetType":1,"viewCount":388,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186971956,"gmtCreate":1623471250975,"gmtModify":1634032687856,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Good info","listText":"Good info","text":"Good info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186971956","repostId":"1177806573","repostType":4,"repost":{"id":"1177806573","kind":"news","pubTimestamp":1623452856,"share":"https://www.laohu8.com/m/news/1177806573?lang=&edition=full","pubTime":"2021-06-12 07:07","market":"us","language":"en","title":"As America reopens, businesses—from airlines to arenas—see an uptick in bad behavior","url":"https://stock-news.laohu8.com/highlight/detail?id=1177806573","media":"cnbc","summary":"KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in viol","content":"<div>\n<p>KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in violence during flights.\nRowdy NBA fans involved in recent incidents have been banned from arenas, some ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.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>As America reopens, businesses—from airlines to arenas—see an uptick in bad behavior</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\">\nAs America reopens, businesses—from airlines to arenas—see an uptick in bad behavior\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in violence during flights.\nRowdy NBA fans involved in recent incidents have been banned from arenas, some ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/06/11/as-america-reopens-businesses-see-an-uptick-in-bad-behavior-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1177806573","content_text":"KEY POINTS\n\nAmerican and Southwest airlines recently stopped serving alcohol after an uptick in violence during flights.\nRowdy NBA fans involved in recent incidents have been banned from arenas, some even arrested.\nTarget pulled back on selling sports trading cards after a violent dispute.\n\nCrime’s up. Tempers are up.\nAcross the United States, businesses are grappling with an astonishing rise in what can only be called “people behaving badly.”\nRetail workers have been subjected to horrifying attacks based on their race, gender identity or disability. Flight attendants have been verbally — and occasionally physically — assaulted. Aggressive driving has led to road rage, with deadly consequences. Shoppers are brawling in the aisles.\nExperts are pointing to soaring stress levels as the trigger for the rise in these types of incidents.\nThe not-so-friendly skies\nIn May, aflight attendantforSouthwest Airlineshadtwo teeth knocked out by a furious passenger,according to law enforcement who arrested the woman in San Diego. It was just one of the latest examples as airlines struggle with an unprecedented onslaught of confrontations.\n“We can say with confidence that the number of reports we’ve received during the past several months are significantly higher than the numbers we’ve seen in the past,” said Ian Gregor, a spokesman for the Federal Aviation Administration.\nThe FAA tracks incidentswith problem passengers and says issues surrounding face masks have been a contributing factor.\nUnion reps have described the situation as an “epidemic of aggression and assault.”\nAlcohol also can be a factor. Both Southwest andAmerican Airlineshave decidednot to resume in-flight alcohol salesright now because of the unruly behavior.\nIndefinite bans for NBA fans\nNBA fans returning to arenas is a welcome sight for the league, which was reportedly$1.5 billion short of revenue expectationslast season as the pandemic resulted in lost ticket sales. Yet, the return of fans has brought a host of new problems.\nFor example, in Boston, a 21-year-old Celtics fan wascharged with assault and batteryby means of a dangerous weapon, after heaving a water bottle at Brooklyn Nets star Kyrie Irving as he left the court at TD Garden.\nIn New York, Atlanta Hawks guardTrae Young got spit onduring a playoff game against the Knicks at Madison Square Garden. And Washington Wizards starRussell Westbrookgot popcorn dumped on him by a fan as he left the court with an injury.\n“To be completely honest, this s--- is getting out of hand. ... The amount of disrespect, the amount of fans just doing whatever the f--- they want to do ... it’s just out of pocket,” Westbrook said in a postgame press conference.\nThe league issueda statementon the recent behavior and made changes to its fan code of conduct as a result.\n“The return of more NBA fans to our arenas has brought great excitement and energy to the start of the playoffs, but it is critical that we all show respect for players, officials and our fellow fans,” the NBA said.\nMany of the teams impacted are not tolerating the bad behavior,placing indefinite bans on rude fansattending future games.\n“Something’s gonna happen to the wrong person and it’s not gonna be good,” warned Portland star Damian Lillard.\nRetailers team up\nIt’s not just sports stadiums and arenas. The retail industry is also seeing an uptick in bad behavior, often targeted toward employees. According to Emily May, co-founder and executive director of the nonprofitHollaback!, retailers are seeing an alarming rise in discrimination where floor staff are being targeted for who they are when enforcing safety measures.\n“Given the rise in hate violence — which is at an all-time high — frontline workers are more vulnerable than ever,” she said in a statement.\nIt’s gotten so bad that at least a dozen retailers includingGap,Dick’s Sporting Goodsand Sephora have teamed up to collaborate on a campaign with the nonprofitOpen to All.\n“We are trying to create a movement where everyone comes together around the values of inclusion and safety, where we all can be safe and accepted and belong for who we are,” said director Calla Devlin Rongerude.\n“We haven’t been in crowds, we haven’t negotiated spaces with a lot of other people for quite a while. I think we’re out of practice with how to be human with each other,” she added.\nAs part of the campaign, the participating retailers will have access to a toolkit and other resources to support front-line workers.\nGrown men fighting over Pokemon cards\nAs theresale value of Pokemon and sports cards has skyrocketedduring the pandemic, retailers such asTargetandWalmarthave seen firsthand the impact: grown men getting in physical altercations over these cards.\nLast month, a 35-year-old manpulled a gunwhen he was attacked by a group of men in a trading-card related fight. It forced Target to temporarily pull the trading cards from its stores.\n“The safety of our guests and team members is our top priority,” Target said in a statement.\nThe retailer said Pokemon cards have since returned to the store but customers are subject to strict purchase limits of two packs per guest. The sale of MLB, NFL and NBA trading cards is still limited to Target’s website.\nRemember ‘the Golden Rule’\nWhether it’s aggressive driving or tempers on full display in restaurants, gas stations or Little League games, the bad behavior is caused by a confluence of factors, according to Thomas Plante, a psychology professor at the University of Santa Clara.\n“We’ve got a tsunami of mental health issues out there, with anxiety and depression,” Plante said, adding that our collective stress levels have never been higher.\nPeople are juggling multiple stressors, he said. Among them: the pandemic, death, illness, job loss, homeschooling kids, isolation and other challenges. That frustration can lead to aggression.\nThere’s also “observational learning,” Plante said, explaining that when people see bad behavior all around them, even by so-called role models, they are more likely to repeat it.\n“People model behavior of others, especially highly valued models, like ... well-known politicians,” Plante said. “People look at how they behave, which has been pretty bad, and they go and do likewise.”\nWhat will reverse the trend? Plante’s suggestion sounds like something one might hear from the pulpit or a parent: Treat others the way you want to be treated.\n“People have kind of gotten out of practice about how to behave in public, and how to behave in a polite, civil society,” Plante said.\nThe Golden Rule can help us get back on track.","news_type":1},"isVote":1,"tweetType":1,"viewCount":677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186947428,"gmtCreate":1623471117664,"gmtModify":1634032691633,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Yes&nbsp;","listText":"Yes&nbsp;","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186947428","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://www.laohu8.com/m/news/1104635261?lang=&edition=full","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<blockquote>\n <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>\n</blockquote>\n<p>A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p>\n<p>Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p>\n<p>The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p>\n<p>The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p>\n<p>Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p>\n<p>As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p>\n<p>Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p>\n<p>“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p>\n<p>Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p>\n<p>It was a day too late.</p>\n<p>AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p>\n<p>Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p>\n<p>The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p>\n<p>Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p>\n<p>But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p>\n<p>Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p>\n<p>Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p>\n<p>Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p>\n<p>Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</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>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders</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\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest ...</p>\n\n<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186947031,"gmtCreate":1623471093623,"gmtModify":1634032692215,"author":{"id":"3575704006877751","authorId":"3575704006877751","name":"oyzheng","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575704006877751","authorIdStr":"3575704006877751"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186947031","repostId":"1147474880","repostType":4,"repost":{"id":"1147474880","kind":"news","pubTimestamp":1623470168,"share":"https://www.laohu8.com/m/news/1147474880?lang=&edition=full","pubTime":"2021-06-12 11:56","market":"us","language":"en","title":"Investor, Trader, Speculator: Which One Are You?","url":"https://stock-news.laohu8.com/highlight/detail?id=1147474880","media":"The Wall Street Journal","summary":"Understanding the difference between speculation and investing is essential to avoiding reckless ris","content":"<blockquote>\n Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n</blockquote>\n<p>I’ve had it.</p>\n<p>The Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.</p>\n<p>If you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.</p>\n<p>Whenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.</p>\n<p>You’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.</p>\n<p>Of course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%<i>are</i>investors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.</p>\n<p>An investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.</p>\n<p>The word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.</p>\n<p>Nevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”</p>\n<p>He wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)</p>\n<p>“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”</p>\n<p>Graham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.</p>\n<p>In that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”</p>\n<p>However, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”</p>\n<p>Most investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.</p>\n<p>If you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.</p>\n<p>Take speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.</p>\n<p>I think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.</p>\n<p>“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”</p>\n<p>I hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.</p>\n<p>Calling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.</p>\n<p>Ina recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”</p>\n<p>In her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.</p>\n<p>The currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)</p>\n<p>PAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.</p>\n<p>Ms. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”</p>\n<p>In Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.</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>Investor, Trader, Speculator: Which One Are 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\">\nInvestor, Trader, Speculator: Which One Are You?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of ...</p>\n\n<a href=\"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.wsj.com/articles/you-cant-invest-without-trading-you-can-trade-without-investing-11623426213?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147474880","content_text":"Understanding the difference between speculation and investing is essential to avoiding reckless risk.\n\nI’ve had it.\nThe Wall Street Journal is wrong, and has remained wrong for decades, about one of the most basic distinctions in finance. And I can’t stand it anymore.\nIf you buy a stock purely because it’s gone up a lot, without doing any research on it whatsoever, you are not—as the Journal and its editors bizarrely insist on calling you—an “investor.” If you buy a cryptocurrency because, hey, that sounds like fun, you aren’t an investor either.\nWhenever you buy any financial asset becauseyou have a hunchorjust for kicks, or becausesomebody famous is hyping the heck out of itoreverybody else seems to be buying it too, you aren’t investing.\nYou’re definitely a trader: someone who has just bought an asset. And you may bea speculator: someone who thinks other people will pay more for it than you did.\nOf course,some folkswho buy meme stocks likeGameStopCorp.GME5.88%areinvestors. They read the companies’ financial statements, study the health of the underlying businesses and learn who else is betting on or against the shares. Likewise, many buyers of digital coins have put in the time and effort to understand how cryptocurrency works and how it could reshape finance.\nAn investor relies on internal sources of return: earnings, income, growth in the value of assets. A speculator counts on external sources of return: primarilywhether somebody else will pay more, regardless of fundamental value.\nThe word investor comes from the Latin “investire,” to dress in or clothe oneself, surround or envelop. You would never wear clothes without knowing what color they are or what material they’re made of. Likewise, you can’t invest in an asset you know nothing about.\nNevertheless, the Journal and its editors have long called almost everybody who buys just about anything an “investor.” On July 12, 1962, the Journal publisheda letter to the editorfrom Benjamin Graham, author of the classic books “Security Analysis” and “The Intelligent Investor.” That June, complained Graham, the Journal had run an article headlined “Many Small Investors Bet on Further Drops, Sell Odd Lots Short.”\nHe wrote: “By what definition of ‘investment’ can one give the name ‘investors’ to small people who make bets on the stock market by selling odd lots short?” (To short an odd lot is to borrow and sell fewer than 100 shares in a wager that a stock will fall—an expensive and risky bet, then and now.)\n“If these people are investors,” asked Graham, “how should one define ‘speculation’ and ‘speculators’? Isn’t it possible that the currentfailure to distinguishbetweeninvestment and speculationmay do grave harm not only to individuals but to the whole financial community—as it did in the late 1920s?”\nGraham wasn’t a snob who thought that the markets should be the exclusive playground of the rich. He wrote “The Intelligent Investor” with the express purpose of helping less-wealthy people participate wisely in the stock market.\nIn that book, after which this column is named, Graham said, “Outright speculation is neither illegal, immoral, nor (for most people) fattening to the pocketbook.”\nHowever, he warned, it creates three dangers: “(1) speculating when you think you are investing; (2) speculating seriously instead of as a pastime, when you lack proper knowledge and skill for it; and (3) risking more money in speculation than you can afford to lose.”\nMost investors speculate a bit every once in a while. Like a lottery ticket or an occasional visit to the racetrack or casino, a little is harmless fun. A lot isn’t.\nIf you think you’re investing when you’re speculating, you’ll attribute even momentary success to skill even thoughluck is the likeliest explanation. That can lead you to take reckless risks.\nTake speculating too seriously, and it turns intoan obsessionandan addiction. You become incapable of accepting your losses or focusing on the future more than a few minutes ahead. Next thing you know, you’re throwing even more money onto the bonfire.\nI think calling traders and speculators “investors” shoves many newcomers farther down the slippery slope toward risks they shouldn’t take and losses they can’t afford. I fervently hope the Journal and its editors will finally stop using “investor” as the default term for anyone who makes a trade.\n“ ‘Investor’ has a long history in the English language as a catch-all term denoting people who commit capital with the expectation of a return, no matter how long or short, no matter how many or how few investing columns they read,” WSJ Financial Editor Charles Forelle said in response to my complaints. “Back at least to the mid-19th century, ‘invest’ has even been used to describe a wager on horses—an activity surely no less divorced from fundamental analysis than a purchase of dogecoin.”\nI hear you, Boss, but I still think you’re wrong. There’s no way the Journal would say a recreational gambler is “investing” at the racetrack just because a dictionary says we can.\nCalling novice speculators “investors” is one of the most powerful ways marketers fuel excessive trading.\nIna recent Instagram post, a former porn star who goes by the name Lana Rhoades posed in—well, mostly in—a bikini, as she held up what appears to be Graham’s “The Intelligent Investor.” According to IMDb.com, she starred in such videos as “Tushy” and “Make Me Meow.”\nIn her post, which was “liked” by nearly 1.8 million people, Ms. Rhoades announced that she will be promoting a cryptocurrency calledPAWGcoin.\nThe currency’s website says the coin is meant for “those who pay homage to developed posteriors.” (PAWG, I’ve been reliably informed, stands for Phat Ass White Girl.)\nPAWGcoin is up roughly 900% since Ms. Rhoades began promoting it in early June, according to Poocoin.io, a website that tracks such digital currencies.\nMs. Rhoades, who has tweeted “I also read the WSJ every morning,” couldn’t be reached for comment. PAWGcoin’s website encourages visitors to “invest now.”\nIn Ms. Rhoades’s Instagram post, she is holding up an open copy of the “The Intelligent Investor,” whose cover is reversed. She appears to be reading it with her eyes closed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":34,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}