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Technically Speaking: Is The Market "Melting-Up?"

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Inc.(WEBR)$Pheeww","images":[{"img":"https://static.tigerbbs.com/a95ae6b46c453f58d062e21e2c4ddd6e","width":"1125","height":"4178"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/820061751","isVote":1,"tweetType":1,"viewCount":580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":820061642,"gmtCreate":1633326575765,"gmtModify":1633326576108,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/820061642","repostId":"2172964814","repostType":4,"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862764179,"gmtCreate":1632916266273,"gmtModify":1632916266654,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/862764179","repostId":"1198528044","repostType":4,"repost":{"id":"1198528044","pubTimestamp":1632882697,"share":"https://www.laohu8.com/m/news/1198528044?lang=&edition=full","pubTime":"2021-09-29 10:31","market":"us","language":"en","title":"Technically Speaking: Is The Market \"Melting-Up?\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1198528044","media":"seekingalpha","summary":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protect","content":"<p><b>Summary</b></p>\n<ul>\n <li>Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</li>\n <li>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</li>\n <li>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.</li>\n</ul>\n<p>Is the<i>“market melting-up?”</i>Such was the question I received from my colleague at<i>Cut The Crap Investing.</i>It is an excellent question given the relentless increase in what investors believe is a<i>“no risk”</i>market.</p>\n<p>Of course, we need a definition of precisely what constitutes a melt-up.</p>\n<blockquote>\n <i>“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly</i>\n <i><b>by a stampede of investors who don’t want to miss out on its rise,</b></i>\n <i>rather than by fundamental improvements in the economy.“</i>–\n <i>Investopedia</i>\n</blockquote>\n<p>Currently, there is sufficient evidence to support the idea of an exuberant market.<b><i>As noted previously:</i></b></p>\n<blockquote>\n <i>“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”</i>\n</blockquote>\n<blockquote>\n <i>‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’</i>\n</blockquote>\n<ul>\n <li><b><i>High optimism</i></b></li>\n <li><b><i>Easy credit (too easy, with loose terms)</i></b></li>\n <li><b><i>A rush of initial and secondary offerings</i></b></li>\n <li><b><i>Risky stocks outperforming</i></b></li>\n <li><b><i>Stretched valuations</i></b></li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/ff8de3a84084162ca86b415584bbf793\" tg-width=\"731\" tg-height=\"468\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>However, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</p>\n<p><b>A Visualization Of A Market Melting-Up</b></p>\n<p>It is often easier to visualize something rather than explain it.<b>Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.</b>The chart below shows both periods in terms of price.</p>\n<p><img src=\"https://static.tigerbbs.com/a218c7efe2ebd874d05c9ff7dd564436\" tg-width=\"797\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/9f193c9c32d55747bf7ff511c2f9fd53\" tg-width=\"793\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>However, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.<b>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</b></p>\n<p><img src=\"https://static.tigerbbs.com/c69e418d5a19d6fd03b305ab111e3be3\" tg-width=\"794\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/af03d3bbd071b8edfdf3a19e2c7b0bcd\" tg-width=\"796\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>We can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.</p>\n<p><img src=\"https://static.tigerbbs.com/f3562aea27b24ad4921d0f5cd497e072\" tg-width=\"804\" tg-height=\"444\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market<i>“melt-up,”</i>there is a rapid deviation from the growth trend matching the acceleration in valuations.</p>\n<p><img src=\"https://static.tigerbbs.com/1419cf4b2afdcdc0f61e0cad862f498d\" tg-width=\"836\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The problem with market<i>“melt-ups”</i>is not the melt-up itself but what always follows.</p>\n<p><b>Melting-Up Leads To Melting-Down</b></p>\n<p>A market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why<i>“this time is different.”</i>They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.</p>\n<p>Market melt-ups are all about<i>“psychology.”</i><b>Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.</b>The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous<i>‘melt-up”</i>periods should be easy to spot when compared with the advance currently.</p>\n<p><img src=\"https://static.tigerbbs.com/bc04cb25c0199dd17475a551a5dd7ec1\" tg-width=\"869\" tg-height=\"1024\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Given that current extensions match only a few rare periods in history, a couple of points should be readily apparent.</p>\n<ol>\n <li><b><i>Melt-ups can longer than logic would predict.</i></b></li>\n <li><b><i>The prevailing psychology is always “this time is different.”</i></b></li>\n <li><b><i>Valuations are dismissed in exchange for measures of momentum and forward expectations.</i></b></li>\n <li><b><i>Investors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.</i></b></li>\n <li><b><i>Lastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.</i></b></li>\n</ol>\n<p>It is essential to recognize the markets are in a<i>“melt-up,</i>” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual<i>“melting-down.”</i></p>\n<p><b>Surviving The Melt-Up</b></p>\n<p><b>As noted, none of this means the next</b><b><i>“bear market”</i></b><b>is lurking.</b>Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “<i>end”</i>a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.</p>\n<p>As such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.</p>\n<p>As portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.</p>\n<ol>\n <li><i><b>Tighten up stop-loss levels</b></i><i>to current support levels for each position.(Provides identifiable exit points when the market reverses.)</i></li>\n <li><i><b>Hedge portfolios</b></i><i>against major market declines.(Non-correlated assets, short-market positions, index put options)</i></li>\n <li><i><b>Take profits</b></i><i>in positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)</i></li>\n <li><i><b>Sell laggards</b></i><i>and losers</i>.<i>(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)</i></li>\n <li><i><b>Raise cash</b></i><i>and rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)</i></li>\n</ol>\n<p><b>Notice, nothing in there says,</b><b><i>“sell everything and go to cash.”</i></b></p>\n<p>There will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that<i>“stop-loss”</i>levels get triggered, exposure decreases, and cash levels rise when the selling begins.</p>\n<p>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent<i>“this time is different.”</i></p>\n<p>It likely isn’t.</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>Technically Speaking: Is The Market \"Melting-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\">\nTechnically Speaking: Is The Market \"Melting-Up?\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-29 10:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nAs is always the case, the investing public believes future earnings will ...</p>\n\n<a href=\"https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up\">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://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198528044","content_text":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nAs is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.\n\nIs the“market melting-up?”Such was the question I received from my colleague atCut The Crap Investing.It is an excellent question given the relentless increase in what investors believe is a“no risk”market.\nOf course, we need a definition of precisely what constitutes a melt-up.\n\n“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly\nby a stampede of investors who don’t want to miss out on its rise,\nrather than by fundamental improvements in the economy.“–\n Investopedia\n\nCurrently, there is sufficient evidence to support the idea of an exuberant market.As noted previously:\n\n“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”\n\n\n‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’\n\n\nHigh optimism\nEasy credit (too easy, with loose terms)\nA rush of initial and secondary offerings\nRisky stocks outperforming\nStretched valuations\n\n\nHowever, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nA Visualization Of A Market Melting-Up\nIt is often easier to visualize something rather than explain it.Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.The chart below shows both periods in terms of price.\n\nHowever, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\n\nWe can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.\n\nThe following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market“melt-up,”there is a rapid deviation from the growth trend matching the acceleration in valuations.\n\nThe problem with market“melt-ups”is not the melt-up itself but what always follows.\nMelting-Up Leads To Melting-Down\nA market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why“this time is different.”They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.\nMarket melt-ups are all about“psychology.”Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous‘melt-up”periods should be easy to spot when compared with the advance currently.\n\nGiven that current extensions match only a few rare periods in history, a couple of points should be readily apparent.\n\nMelt-ups can longer than logic would predict.\nThe prevailing psychology is always “this time is different.”\nValuations are dismissed in exchange for measures of momentum and forward expectations.\nInvestors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.\nLastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.\n\nIt is essential to recognize the markets are in a“melt-up,” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual“melting-down.”\nSurviving The Melt-Up\nAs noted, none of this means the next“bear market”is lurking.Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “end”a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.\nAs such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.\nAs portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.\n\nTighten up stop-loss levelsto current support levels for each position.(Provides identifiable exit points when the market reverses.)\nHedge portfoliosagainst major market declines.(Non-correlated assets, short-market positions, index put options)\nTake profitsin positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)\nSell laggardsand losers.(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)\nRaise cashand rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)\n\nNotice, nothing in there says,“sell everything and go to cash.”\nThere will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that“stop-loss”levels get triggered, exposure decreases, and cash levels rise when the selling begins.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent“this time is different.”\nIt likely isn’t.","news_type":1},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868580629,"gmtCreate":1632671644661,"gmtModify":1632798662634,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868580629","repostId":"1142057327","repostType":4,"isVote":1,"tweetType":1,"viewCount":422,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868941715,"gmtCreate":1632582417937,"gmtModify":1632655232644,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868941715","repostId":"1149730497","repostType":4,"repost":{"id":"1149730497","pubTimestamp":1632538837,"share":"https://www.laohu8.com/m/news/1149730497?lang=&edition=full","pubTime":"2021-09-25 11:00","market":"sh","language":"en","title":"7 Best Stocks To Buy for Investors Building a ‘Brands’ Portfolio","url":"https://stock-news.laohu8.com/highlight/detail?id=1149730497","media":"investorplace","summary":"'Brands' are big and these seven stocks each bring investors a stake in recognized quality products ","content":"<p>'Brands' are big and these seven stocks each bring investors a stake in recognized quality products and services</p>\n<p>I saw a recent article from<i>Quartz at Work</i>about Reebok, other brand reboots, and what<b>Authentic Brands</b>plans to doto revitalize the once-dominant sneaker company. While the rise and fall of Reebok is a fascinating story, the article got me thinking about stocks to buy for the “Brands” portfolio.</p>\n<p>After all, Authentic Brands itself hasfiled to go public. My fellow<i>InvestorPlace</i>contributor Dana Blankenhorn calls it the most fascinating IPO of the year.</p>\n<p>“Authentic’s S-1has more pictures than<b>Pinterest</b>(NYSE:<b><u>PINS</u></b>), but tells little about the business. The numbers are for 2020, before a host of recent deals. It only identifies direct licensing revenue, $488 million of it in that year. But $211 million of that money, 43%, wound up as net income. This is said to justify a $10 billion enterprise valuation,” Dana wrote on Sep. 20.</p>\n<p>I agree with my colleague. It’s definitely up there. Heck, by the time I’ve written this, the company’s stock might be eligible for my newest portfolio.</p>\n<p>But, for now,<i>Finviz.com</i>tells me there are34 public companieswith the word “Brands” as part of their corporate name. So, I’ll recommend the seven best stocks to buy from the bunch.</p>\n<ul>\n <li><b>Restaurant Brands International</b>(NYSE:<b><u>QSR)</u></b></li>\n <li><b>Constellation Brands</b>(NYSE:<b><u>STZ)</u></b></li>\n <li><b>Fortune Brands Home &amp; Security</b>(NYSE:<b><u>FBHS</u></b>)</li>\n <li><b>Newell Brands</b>(NASDAQ:<b><u>NWL</u></b>)</li>\n <li><b>Acuity Brands</b>(NYSE:<b><u>AYI</u></b>)</li>\n <li><b>Cornerstone Building Brands</b>(NYSE:<b><u>CNR</u></b>)</li>\n <li><b>BellRing Brands</b>(NYSE:<b><u>BRBR</u></b>)</li>\n</ul>\n<p>Stocks to Buy: Restaurant Brands International (QSR)</p>\n<p>I begrudgingly put Restaurant Brands International, the owner of Tim Hortons, Burger King and Popeye’s, on my list of stocks to buy.</p>\n<p>Burger King acquired Tim Hortons in 2014 to form RBI. Ever since, I’ve had a hard time accepting the merger, given Burger King’s CEO made each Tim Horton’s head office employee justify their jobs in15-minute interviews.</p>\n<p>To date, I’d say I was right to be concerned about the poor treatment of employees. Over the past five years through Sept. 22, QSR stock has a total return of 9.0%, less than the Canadian market on the whole and nearly half the return of the entire U.S. market.</p>\n<p>In August, Tim Hortons China, a joint-venture between RBI and Hong Kong private equity firm<b>Cartesian Capital</b>, agreed to merge with<b>Silver Crest Acquisition Corp.</b>(NASDAQ:<b><u>SLCR</u></b>) in a transaction that valued the Chinese segment of Tim Hortons at$1.7 billion.</p>\n<p>As long as<b>3G Capital</b>continues to own almost 30% of RBI stock, I’ll remain cautious in my praise.</p>\n<p>However, with$1.35 billionin trailing 12-month (TTM) free cash flow (FCF) and a 7.0% FCF yield, now could be an opportune time to pick up some shares.</p>\n<p>Constellation Brands (STZ)<img src=\"https://static.tigerbbs.com/51af367100d1d75a5ca277a1a9675c31\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: ShinoStock / Shutterstock.com</p>\n<p>A telltale sign Constellation Brands has become a big deal in corporate America is therecent announcementthat it would move 400 of its employees from its offices in Canandaigua, New York, to downtown Rochester.</p>\n<p>“The company investment is estimated at $50 million, while Landers [Peter Landers, majority investor in group that owns the downtown property] says the owners/developers’ will spend close to $35 million on historic restoration, stripping paint from the barrel ceilings and brick walls, and building a 120-space parking structure,” The<i>Democrat &amp; Chronicle</i>reported.</p>\n<p>While Constellation is known for Corona and Modelo beer, Svedka vodka, and Woodbridge wine, amongst others, it isthe company’s investmentin<b>Canopy Growth</b>(NASDAQ:<b><u>CGC</u></b>) that gets most of the attention.</p>\n<p>That’s because it’s taking forever to see the benefits of its multi-billion-dollar investment in the Canadian cannabis company. Since it acquired9.9% in October 2017, STZ stock has gone sideways over nearly 48 months.</p>\n<p>As a glass-half-full kind of person, I see the potential upside of its Canopy investment as a big reason to buy at current prices.</p>\n<p>Constellation has a TTM FCF of$2.0 billion, good for an FCF yield of 4.9%. When you consider the value yet to be extracted by its investment, STZ’s valuation is more than reasonable.</p>\n<p>Stocks to Buy: Fortune Brands Home &amp; Security (FBHS)<img src=\"https://static.tigerbbs.com/c43d12689a9a34fc77425af4b7ac66d2\" tg-width=\"300\" tg-height=\"165\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: Shutterstock</p>\n<p>Fortune Brands Home &amp; Security wasspun offfrom<b>Fortune Brands Inc</b>, part of the then-holding company’s plan to deliver additional value for its shareholders almost a decade ago.</p>\n<p>At the same time, it sold its Acushnet business for $1.225 billion and renamed Fortune Brands as<b>Beam Inc.</b>, the holding company’s spirits business. Beam was subsequently sold to<b>Suntory Holdings</b>in 2014 for $16 billion, including the assumption of debt.</p>\n<p>Fortune shareholders got one share of FBHS for each share in the parent. FBHS stock has generated a total return of 22.4% over the past decade, 548 basis points higher than the entire U.S. market.</p>\n<p>The company hasthree operating segments: Plumbing, Outdoors &amp; Security, and Cabinets. Its brands include Moen faucets, Larson doors, Master Lock locks, MasterBrand cabinets, and many more.</p>\n<p>Together, they have TTM sales of $7.02 billion, $1.03 billion in operating income, $650 million in FCF, and an FCF yield of 5.0%.</p>\n<p>It’s a great business to own for the long haul.</p>\n<p>Newell Brands (NWL)<img src=\"https://static.tigerbbs.com/b002bc9b30d4f4cc62b40222b912a1b0\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: Casimiro PT / Shutterstock.com</p>\n<p>Newell CEO Ravi Saligram was recently named one ofAtlanta’s best CEOsby the<i>Atlanta Business Chronicle.</i>Saligram joined Newell as CEO inOctober 2019. Before that, he was CEO of<b>Ritchie Bros. Auctioneers</b>(NYSE:<b><u>RBA</u></b>) from July 2014 to July 2019 and OfficeMax from November 2010 to November 2013. In addition, he oversaw the merger between OfficeMax and Office Depot.</p>\n<p>He’s been an executive for many years working in several different industries. Since joining Newell, NWL stock has gained 32% over nearly 24 months. That compares to 50% for the<b>S&amp;P 500 index</b>over the same period.</p>\n<p>Over the years, Newell Brands became quite bloated, with too many businesses generating too few profits. Newell might have underperformed so far in Saligram’s tenure, but he’s doing his best to set the company up for sustainable growth.</p>\n<p>“Along our journey, we will add capabilities to build competitive advantage. For example, we are building on our eCommerce capabilities and Digital First mindset (over 21% of our global sales are sold online) to become truly omni channel,” Saligram told the<i>Atlanta Business Chronicle.</i></p>\n<p>“We are creating consistent and compelling brand experiences for consumers no matter where they shop, how they shop or when they shop be it buy online, deliver to home, buy online pick up at the store, buy online pick up at curbside or shop at a store.”</p>\n<p>In 2019, Newell had an FCF of$780 million. In the TTM, it was $1.1 billion, a 41% increase. I would expect this FCF growth to continue.</p>\n<p>The performance in the next 24 months ought to be much better than the last 24.</p>\n<p>Stocks to Buy: Acuity Brands (AYI)<img src=\"https://static.tigerbbs.com/d0fc99bca07cdb144fe2c7208776aed8\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: JHVEPhoto / Shutterstock.com</p>\n<p>It’s great to see the provider of commercial and residential lighting solutions doing well in the markets after a long stretch of less-than-stellar Acuity Brands shareholder returns.</p>\n<p>For example, if you invested $10,000 in AYI stock in September 2020, today, you would have approximately $17,294. However, if you invested the same $10,000 in its stock three years ago, you’d have $10,609.</p>\n<p>While the company got lost in the woods for a time, it’s been able to find its way back, thanks in part to its hiring of CEO Neil Ashe inJanuary 2020. Ashe has held some high-powered jobs, including being in charge of<b>Walmart’s</b>(NYSE:<b><u>WMT</u></b>) eCommerce &amp; Technology unit from 2012 through 2016.</p>\n<p>Ashe replaced Vernon Nagel, who served as Acuity’s CEO for 16 years. Nagel moved into theexecutive chairman role. They ought to make an excellent pairing.</p>\n<p>In the company’s Q3 2021 results, Acuity had a 16% increase in sales to$899.7 million, with a 56% increase in earnings to $2.37 a share. In 2021, it expects growth to continue.</p>\n<p>InJanuary 2019, I suggested that Acuity needed a new CEO who could bring a fresh perspective. Less than a year later, it did just that. Kudos to Nagel for recognizing it was time to move aside.</p>\n<p>Cornerstone Building Brands (CNR)<img src=\"https://static.tigerbbs.com/60a34aa2f9805656c3d30d8bf03763eb\" tg-width=\"300\" tg-height=\"227\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: ©iStock.com/Sashick</p>\n<p>Of all the names on this list, Cornerstone Building Brands is the only one I didn’t recognize.</p>\n<p>The North Carolina-based provider of commercial, residential, and repair &amp; remodel building products is the largest manufacturer of exterior building products in North America.</p>\n<p>Although the Cornerstone name only came into existence inNovember 2018after the merger between NCI Building Systems and Ply Gem Parent LLC, the two companies have a history of more than 75 years.</p>\n<p>Since the merger’s completion, CNR stock has experienced its fair share of highs and lows, falling to less than $3 in the March 2020 correction, then recovering to almost $20 in June before settling back into the mid-teens in late September.</p>\n<p>A prominent owner of Cornerstone stock is<b>BlueTower Asset Management</b>, a Texas-based portfolio manager. The company’s Global Value Strategy owns17 stocks, CNR being the largest weighting at 18.6% of the portfolio.</p>\n<p>Here’s what BlueTower had to say about Cornerstone in itsQ2 2021 shareholder letter:</p>\n<p>“As the company realizes acquisition synergies, the housing boom continues, and Cornerstone pays down debt, the company’s value will become apparent to investors and share price will rise to meet its true fundamental value,” BlueTower portfolio manager Andrew Oskoui wrote.</p>\n<p>“Investors who were previously repelled by the high debt levels will invest at lower leverage levels. The share price has already tripled from the average price our long-term investors in the strategy composite paid, but we still believe the company has a high expected forward rate of return.”</p>\n<p>What’s not to like?</p>\n<p>Stocks to Buy: BellRing Brands (BRBR)<img src=\"https://static.tigerbbs.com/00df020d2a1a57e564587b5d95e0c571\" tg-width=\"300\" tg-height=\"169\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Source: rblfmr / Shutterstock.com</p>\n<p>If you’ve ever eaten a PowerBar, you’ve heard of and supported BellRing Brands.</p>\n<p>In October 2019,<b>Post Holdings</b>(NYSE:<b><u>POST</u></b>) spun off its former active nutrition business — PowerBar, Premier Protein, and Dymatize brands — selling 39.43 million shares at $14 per share. It raised approximately$516.4 millionfrom the IPO. It used the proceeds to pay down some debt owed to the parent and buy shares of the operating company, BellRing Brands LLC.</p>\n<p>After the IPO, Post owned 71% of BRBR stock. In August 2021, Post announced thatit plans to distributemost of this stake to shareholders. The move’s expected to include a special cash dividend for Post shareholders.</p>\n<p>At the same time, it announced the distribution; it also announced Q3 2021 results. Sales in the quarter jumped 68% over last year to $342.6 million, while its operating profit increased by 68% to $51.5 million.</p>\n<p>BellRing’s TTM FCF is$214.3 million. Based on a market cap of $1.3 billion, it has an FCF yield of 16.5%, well into value territory.</p>\n<p>If I’m a Post shareholder, I’d be hanging on to my BellRing shares for the long haul.</p>\n<p><i>On the date of publication, Will Ashworthdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the</i>InvestorPlace.comPublishing Guidelines<i>.</i></p>\n<p><i>Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities.</i></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>7 Best Stocks To Buy for Investors Building a ‘Brands’ Portfolio</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\">\n7 Best Stocks To Buy for Investors Building a ‘Brands’ Portfolio\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-25 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/09/7-best-stocks-to-buy-for-investors-building-a-brands-portfolio/><strong>investorplace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>'Brands' are big and these seven stocks each bring investors a stake in recognized quality products and services\nI saw a recent article fromQuartz at Workabout Reebok, other brand reboots, and ...</p>\n\n<a href=\"https://investorplace.com/2021/09/7-best-stocks-to-buy-for-investors-building-a-brands-portfolio/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ISBC":"投资者银行"},"source_url":"https://investorplace.com/2021/09/7-best-stocks-to-buy-for-investors-building-a-brands-portfolio/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149730497","content_text":"'Brands' are big and these seven stocks each bring investors a stake in recognized quality products and services\nI saw a recent article fromQuartz at Workabout Reebok, other brand reboots, and whatAuthentic Brandsplans to doto revitalize the once-dominant sneaker company. While the rise and fall of Reebok is a fascinating story, the article got me thinking about stocks to buy for the “Brands” portfolio.\nAfter all, Authentic Brands itself hasfiled to go public. My fellowInvestorPlacecontributor Dana Blankenhorn calls it the most fascinating IPO of the year.\n“Authentic’s S-1has more pictures thanPinterest(NYSE:PINS), but tells little about the business. The numbers are for 2020, before a host of recent deals. It only identifies direct licensing revenue, $488 million of it in that year. But $211 million of that money, 43%, wound up as net income. This is said to justify a $10 billion enterprise valuation,” Dana wrote on Sep. 20.\nI agree with my colleague. It’s definitely up there. Heck, by the time I’ve written this, the company’s stock might be eligible for my newest portfolio.\nBut, for now,Finviz.comtells me there are34 public companieswith the word “Brands” as part of their corporate name. So, I’ll recommend the seven best stocks to buy from the bunch.\n\nRestaurant Brands International(NYSE:QSR)\nConstellation Brands(NYSE:STZ)\nFortune Brands Home & Security(NYSE:FBHS)\nNewell Brands(NASDAQ:NWL)\nAcuity Brands(NYSE:AYI)\nCornerstone Building Brands(NYSE:CNR)\nBellRing Brands(NYSE:BRBR)\n\nStocks to Buy: Restaurant Brands International (QSR)\nI begrudgingly put Restaurant Brands International, the owner of Tim Hortons, Burger King and Popeye’s, on my list of stocks to buy.\nBurger King acquired Tim Hortons in 2014 to form RBI. Ever since, I’ve had a hard time accepting the merger, given Burger King’s CEO made each Tim Horton’s head office employee justify their jobs in15-minute interviews.\nTo date, I’d say I was right to be concerned about the poor treatment of employees. Over the past five years through Sept. 22, QSR stock has a total return of 9.0%, less than the Canadian market on the whole and nearly half the return of the entire U.S. market.\nIn August, Tim Hortons China, a joint-venture between RBI and Hong Kong private equity firmCartesian Capital, agreed to merge withSilver Crest Acquisition Corp.(NASDAQ:SLCR) in a transaction that valued the Chinese segment of Tim Hortons at$1.7 billion.\nAs long as3G Capitalcontinues to own almost 30% of RBI stock, I’ll remain cautious in my praise.\nHowever, with$1.35 billionin trailing 12-month (TTM) free cash flow (FCF) and a 7.0% FCF yield, now could be an opportune time to pick up some shares.\nConstellation Brands (STZ)Source: ShinoStock / Shutterstock.com\nA telltale sign Constellation Brands has become a big deal in corporate America is therecent announcementthat it would move 400 of its employees from its offices in Canandaigua, New York, to downtown Rochester.\n“The company investment is estimated at $50 million, while Landers [Peter Landers, majority investor in group that owns the downtown property] says the owners/developers’ will spend close to $35 million on historic restoration, stripping paint from the barrel ceilings and brick walls, and building a 120-space parking structure,” TheDemocrat & Chroniclereported.\nWhile Constellation is known for Corona and Modelo beer, Svedka vodka, and Woodbridge wine, amongst others, it isthe company’s investmentinCanopy Growth(NASDAQ:CGC) that gets most of the attention.\nThat’s because it’s taking forever to see the benefits of its multi-billion-dollar investment in the Canadian cannabis company. Since it acquired9.9% in October 2017, STZ stock has gone sideways over nearly 48 months.\nAs a glass-half-full kind of person, I see the potential upside of its Canopy investment as a big reason to buy at current prices.\nConstellation has a TTM FCF of$2.0 billion, good for an FCF yield of 4.9%. When you consider the value yet to be extracted by its investment, STZ’s valuation is more than reasonable.\nStocks to Buy: Fortune Brands Home & Security (FBHS)Source: Shutterstock\nFortune Brands Home & Security wasspun offfromFortune Brands Inc, part of the then-holding company’s plan to deliver additional value for its shareholders almost a decade ago.\nAt the same time, it sold its Acushnet business for $1.225 billion and renamed Fortune Brands asBeam Inc., the holding company’s spirits business. Beam was subsequently sold toSuntory Holdingsin 2014 for $16 billion, including the assumption of debt.\nFortune shareholders got one share of FBHS for each share in the parent. FBHS stock has generated a total return of 22.4% over the past decade, 548 basis points higher than the entire U.S. market.\nThe company hasthree operating segments: Plumbing, Outdoors & Security, and Cabinets. Its brands include Moen faucets, Larson doors, Master Lock locks, MasterBrand cabinets, and many more.\nTogether, they have TTM sales of $7.02 billion, $1.03 billion in operating income, $650 million in FCF, and an FCF yield of 5.0%.\nIt’s a great business to own for the long haul.\nNewell Brands (NWL)Source: Casimiro PT / Shutterstock.com\nNewell CEO Ravi Saligram was recently named one ofAtlanta’s best CEOsby theAtlanta Business Chronicle.Saligram joined Newell as CEO inOctober 2019. Before that, he was CEO ofRitchie Bros. Auctioneers(NYSE:RBA) from July 2014 to July 2019 and OfficeMax from November 2010 to November 2013. In addition, he oversaw the merger between OfficeMax and Office Depot.\nHe’s been an executive for many years working in several different industries. Since joining Newell, NWL stock has gained 32% over nearly 24 months. That compares to 50% for theS&P 500 indexover the same period.\nOver the years, Newell Brands became quite bloated, with too many businesses generating too few profits. Newell might have underperformed so far in Saligram’s tenure, but he’s doing his best to set the company up for sustainable growth.\n“Along our journey, we will add capabilities to build competitive advantage. For example, we are building on our eCommerce capabilities and Digital First mindset (over 21% of our global sales are sold online) to become truly omni channel,” Saligram told theAtlanta Business Chronicle.\n“We are creating consistent and compelling brand experiences for consumers no matter where they shop, how they shop or when they shop be it buy online, deliver to home, buy online pick up at the store, buy online pick up at curbside or shop at a store.”\nIn 2019, Newell had an FCF of$780 million. In the TTM, it was $1.1 billion, a 41% increase. I would expect this FCF growth to continue.\nThe performance in the next 24 months ought to be much better than the last 24.\nStocks to Buy: Acuity Brands (AYI)Source: JHVEPhoto / Shutterstock.com\nIt’s great to see the provider of commercial and residential lighting solutions doing well in the markets after a long stretch of less-than-stellar Acuity Brands shareholder returns.\nFor example, if you invested $10,000 in AYI stock in September 2020, today, you would have approximately $17,294. However, if you invested the same $10,000 in its stock three years ago, you’d have $10,609.\nWhile the company got lost in the woods for a time, it’s been able to find its way back, thanks in part to its hiring of CEO Neil Ashe inJanuary 2020. Ashe has held some high-powered jobs, including being in charge ofWalmart’s(NYSE:WMT) eCommerce & Technology unit from 2012 through 2016.\nAshe replaced Vernon Nagel, who served as Acuity’s CEO for 16 years. Nagel moved into theexecutive chairman role. They ought to make an excellent pairing.\nIn the company’s Q3 2021 results, Acuity had a 16% increase in sales to$899.7 million, with a 56% increase in earnings to $2.37 a share. In 2021, it expects growth to continue.\nInJanuary 2019, I suggested that Acuity needed a new CEO who could bring a fresh perspective. Less than a year later, it did just that. Kudos to Nagel for recognizing it was time to move aside.\nCornerstone Building Brands (CNR)Source: ©iStock.com/Sashick\nOf all the names on this list, Cornerstone Building Brands is the only one I didn’t recognize.\nThe North Carolina-based provider of commercial, residential, and repair & remodel building products is the largest manufacturer of exterior building products in North America.\nAlthough the Cornerstone name only came into existence inNovember 2018after the merger between NCI Building Systems and Ply Gem Parent LLC, the two companies have a history of more than 75 years.\nSince the merger’s completion, CNR stock has experienced its fair share of highs and lows, falling to less than $3 in the March 2020 correction, then recovering to almost $20 in June before settling back into the mid-teens in late September.\nA prominent owner of Cornerstone stock isBlueTower Asset Management, a Texas-based portfolio manager. The company’s Global Value Strategy owns17 stocks, CNR being the largest weighting at 18.6% of the portfolio.\nHere’s what BlueTower had to say about Cornerstone in itsQ2 2021 shareholder letter:\n“As the company realizes acquisition synergies, the housing boom continues, and Cornerstone pays down debt, the company’s value will become apparent to investors and share price will rise to meet its true fundamental value,” BlueTower portfolio manager Andrew Oskoui wrote.\n“Investors who were previously repelled by the high debt levels will invest at lower leverage levels. The share price has already tripled from the average price our long-term investors in the strategy composite paid, but we still believe the company has a high expected forward rate of return.”\nWhat’s not to like?\nStocks to Buy: BellRing Brands (BRBR)Source: rblfmr / Shutterstock.com\nIf you’ve ever eaten a PowerBar, you’ve heard of and supported BellRing Brands.\nIn October 2019,Post Holdings(NYSE:POST) spun off its former active nutrition business — PowerBar, Premier Protein, and Dymatize brands — selling 39.43 million shares at $14 per share. It raised approximately$516.4 millionfrom the IPO. It used the proceeds to pay down some debt owed to the parent and buy shares of the operating company, BellRing Brands LLC.\nAfter the IPO, Post owned 71% of BRBR stock. In August 2021, Post announced thatit plans to distributemost of this stake to shareholders. The move’s expected to include a special cash dividend for Post shareholders.\nAt the same time, it announced the distribution; it also announced Q3 2021 results. Sales in the quarter jumped 68% over last year to $342.6 million, while its operating profit increased by 68% to $51.5 million.\nBellRing’s TTM FCF is$214.3 million. Based on a market cap of $1.3 billion, it has an FCF yield of 16.5%, well into value territory.\nIf I’m a Post shareholder, I’d be hanging on to my BellRing shares for the long haul.\nOn the date of publication, Will Ashworthdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.\nWill Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities.","news_type":1},"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":861239402,"gmtCreate":1632496592806,"gmtModify":1632716053073,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/861239402","repostId":"2169153886","repostType":4,"isVote":1,"tweetType":1,"viewCount":523,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":861239402,"gmtCreate":1632496592806,"gmtModify":1632716053073,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/861239402","repostId":"2169153886","repostType":4,"repost":{"id":"2169153886","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":1632494459,"share":"https://www.laohu8.com/m/news/2169153886?lang=&edition=full","pubTime":"2021-09-24 22:40","market":"hk","language":"en","title":"Friday's Market Minute: Takeaways From Another Volatile Earnings Season","url":"https://stock-news.laohu8.com/highlight/detail?id=2169153886","media":"Benzinga","summary":"For many, Nike’s (NYSE: NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was one worth noting.","content":"<blockquote>\n <b>Each quarter’s reports have brought on their own set of hills and valleys. Here is the Summary...</b>\n</blockquote>\n<p>For many, <b>Nike’s </b>(NYSE:NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was <a href=\"https://laohu8.com/S/AONE.U\">one</a> worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys.</p>\n<p>The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well above year-ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, but these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. The earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAANG stocks, <b>Amazon </b>(NASDAQ:AMZN) was the only company that reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on the top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</p>\n<p>For many, Nike’s quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys. The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well-above year ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. Earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAAMG stocks, Amazon was the only company who reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</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>Friday's Market Minute: Takeaways From Another Volatile Earnings Season</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\">\nFriday's Market Minute: Takeaways From Another Volatile Earnings Season\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\">2021-09-24 22:40</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n <b>Each quarter’s reports have brought on their own set of hills and valleys. Here is the Summary...</b>\n</blockquote>\n<p>For many, <b>Nike’s </b>(NYSE:NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was <a href=\"https://laohu8.com/S/AONE.U\">one</a> worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys.</p>\n<p>The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well above year-ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, but these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. The earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAANG stocks, <b>Amazon </b>(NASDAQ:AMZN) was the only company that reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on the top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</p>\n<p>For many, Nike’s quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys. The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well-above year ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. Earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAAMG stocks, Amazon was the only company who reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NKE":"耐克","AMZN":"亚马逊"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169153886","content_text":"Each quarter’s reports have brought on their own set of hills and valleys. Here is the Summary...\n\nFor many, Nike’s (NYSE:NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys.\nThe average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well above year-ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.\nPlus, not only was there a record amount of companies beating earnings estimates, but these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. The earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.\nWithin the heavily traded and scrutinized FAANG stocks, Amazon (NASDAQ:AMZN) was the only company that reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on the top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.\nWhile it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.\nFor many, Nike’s quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys. The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well-above year ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.\nPlus, not only was there a record amount of companies beating earnings estimates, these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. Earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.\nWithin the heavily traded and scrutinized FAAMG stocks, Amazon was the only company who reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.\nWhile it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.","news_type":1},"isVote":1,"tweetType":1,"viewCount":523,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":862764179,"gmtCreate":1632916266273,"gmtModify":1632916266654,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/862764179","repostId":"1198528044","repostType":4,"repost":{"id":"1198528044","pubTimestamp":1632882697,"share":"https://www.laohu8.com/m/news/1198528044?lang=&edition=full","pubTime":"2021-09-29 10:31","market":"us","language":"en","title":"Technically Speaking: Is The Market \"Melting-Up?\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1198528044","media":"seekingalpha","summary":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protect","content":"<p><b>Summary</b></p>\n<ul>\n <li>Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</li>\n <li>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</li>\n <li>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.</li>\n</ul>\n<p>Is the<i>“market melting-up?”</i>Such was the question I received from my colleague at<i>Cut The Crap Investing.</i>It is an excellent question given the relentless increase in what investors believe is a<i>“no risk”</i>market.</p>\n<p>Of course, we need a definition of precisely what constitutes a melt-up.</p>\n<blockquote>\n <i>“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly</i>\n <i><b>by a stampede of investors who don’t want to miss out on its rise,</b></i>\n <i>rather than by fundamental improvements in the economy.“</i>–\n <i>Investopedia</i>\n</blockquote>\n<p>Currently, there is sufficient evidence to support the idea of an exuberant market.<b><i>As noted previously:</i></b></p>\n<blockquote>\n <i>“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”</i>\n</blockquote>\n<blockquote>\n <i>‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’</i>\n</blockquote>\n<ul>\n <li><b><i>High optimism</i></b></li>\n <li><b><i>Easy credit (too easy, with loose terms)</i></b></li>\n <li><b><i>A rush of initial and secondary offerings</i></b></li>\n <li><b><i>Risky stocks outperforming</i></b></li>\n <li><b><i>Stretched valuations</i></b></li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/ff8de3a84084162ca86b415584bbf793\" tg-width=\"731\" tg-height=\"468\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>However, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.</p>\n<p><b>A Visualization Of A Market Melting-Up</b></p>\n<p>It is often easier to visualize something rather than explain it.<b>Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.</b>The chart below shows both periods in terms of price.</p>\n<p><img src=\"https://static.tigerbbs.com/a218c7efe2ebd874d05c9ff7dd564436\" tg-width=\"797\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/9f193c9c32d55747bf7ff511c2f9fd53\" tg-width=\"793\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>However, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.<b>As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.</b></p>\n<p><img src=\"https://static.tigerbbs.com/c69e418d5a19d6fd03b305ab111e3be3\" tg-width=\"794\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/af03d3bbd071b8edfdf3a19e2c7b0bcd\" tg-width=\"796\" tg-height=\"437\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>We can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.</p>\n<p><img src=\"https://static.tigerbbs.com/f3562aea27b24ad4921d0f5cd497e072\" tg-width=\"804\" tg-height=\"444\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market<i>“melt-up,”</i>there is a rapid deviation from the growth trend matching the acceleration in valuations.</p>\n<p><img src=\"https://static.tigerbbs.com/1419cf4b2afdcdc0f61e0cad862f498d\" tg-width=\"836\" tg-height=\"460\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The problem with market<i>“melt-ups”</i>is not the melt-up itself but what always follows.</p>\n<p><b>Melting-Up Leads To Melting-Down</b></p>\n<p>A market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why<i>“this time is different.”</i>They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.</p>\n<p>Market melt-ups are all about<i>“psychology.”</i><b>Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.</b>The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous<i>‘melt-up”</i>periods should be easy to spot when compared with the advance currently.</p>\n<p><img src=\"https://static.tigerbbs.com/bc04cb25c0199dd17475a551a5dd7ec1\" tg-width=\"869\" tg-height=\"1024\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Given that current extensions match only a few rare periods in history, a couple of points should be readily apparent.</p>\n<ol>\n <li><b><i>Melt-ups can longer than logic would predict.</i></b></li>\n <li><b><i>The prevailing psychology is always “this time is different.”</i></b></li>\n <li><b><i>Valuations are dismissed in exchange for measures of momentum and forward expectations.</i></b></li>\n <li><b><i>Investors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.</i></b></li>\n <li><b><i>Lastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.</i></b></li>\n</ol>\n<p>It is essential to recognize the markets are in a<i>“melt-up,</i>” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual<i>“melting-down.”</i></p>\n<p><b>Surviving The Melt-Up</b></p>\n<p><b>As noted, none of this means the next</b><b><i>“bear market”</i></b><b>is lurking.</b>Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “<i>end”</i>a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.</p>\n<p>As such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.</p>\n<p>As portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.</p>\n<ol>\n <li><i><b>Tighten up stop-loss levels</b></i><i>to current support levels for each position.(Provides identifiable exit points when the market reverses.)</i></li>\n <li><i><b>Hedge portfolios</b></i><i>against major market declines.(Non-correlated assets, short-market positions, index put options)</i></li>\n <li><i><b>Take profits</b></i><i>in positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)</i></li>\n <li><i><b>Sell laggards</b></i><i>and losers</i>.<i>(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)</i></li>\n <li><i><b>Raise cash</b></i><i>and rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)</i></li>\n</ol>\n<p><b>Notice, nothing in there says,</b><b><i>“sell everything and go to cash.”</i></b></p>\n<p>There will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that<i>“stop-loss”</i>levels get triggered, exposure decreases, and cash levels rise when the selling begins.</p>\n<p>While it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent<i>“this time is different.”</i></p>\n<p>It likely isn’t.</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>Technically Speaking: Is The Market \"Melting-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\">\nTechnically Speaking: Is The Market \"Melting-Up?\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-29 10:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nAs is always the case, the investing public believes future earnings will ...</p>\n\n<a href=\"https://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up\">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://seekingalpha.com/article/4457469-technically-speaking-is-the-market-melting-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198528044","content_text":"Summary\n\nGiven the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nAs is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent “this time is different”.\n\nIs the“market melting-up?”Such was the question I received from my colleague atCut The Crap Investing.It is an excellent question given the relentless increase in what investors believe is a“no risk”market.\nOf course, we need a definition of precisely what constitutes a melt-up.\n\n“A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly\nby a stampede of investors who don’t want to miss out on its rise,\nrather than by fundamental improvements in the economy.“–\n Investopedia\n\nCurrently, there is sufficient evidence to support the idea of an exuberant market.As noted previously:\n\n“Near peaks of market cycles, investors become swept up by the underlying exuberance. That exuberance breeds the “rationalization” that “this time is different.” So how do you know the market is exuberant currently? Via Sentiment Trader:”\n\n\n‘This type of market activity is an indication that markets have returned their ‘enthusiasm’ stage. Such is characterized by:’\n\n\nHigh optimism\nEasy credit (too easy, with loose terms)\nA rush of initial and secondary offerings\nRisky stocks outperforming\nStretched valuations\n\n\nHowever, while one would expect individuals to exhibit caution in such an environment, the opposite is true. Given the Fed’s ongoing balance sheet operations, investors fully believe they have protection from a decline.\nA Visualization Of A Market Melting-Up\nIt is often easier to visualize something rather than explain it.Since 1900, only two previous market periods qualify as a melt-up: 1920-1929 and 1995-2000.The chart below shows both periods in terms of price.\n\nHowever, the melt-up is also visually represented by the incredibly sharp rise in valuations. Such is essential because earnings are not rising at a fast enough clip to support higher prices.As is always the case, the investing public believes future earnings will justify higher prices during a melt-up. It just never works out that way.\n\nWe can compare those two previous periods with the current advance from the March 2020 lows. Again, we see a very similar sharp advance in price combined with a surge in valuations. As expected, investors are currently hoping that future earnings will rise sharply enough to justify current prices. However, the justification for paying high prices is the Federal Reserve’s ongoing balance sheet expansion.\n\nThe following chart looks that the price advance and valuation measures a little differently. It shows the current deviation from the long-term exponential growth trend. Not surprisingly, during a market“melt-up,”there is a rapid deviation from the growth trend matching the acceleration in valuations.\n\nThe problem with market“melt-ups”is not the melt-up itself but what always follows.\nMelting-Up Leads To Melting-Down\nA market melting-up is exciting while it lasts. During melt-ups, investors begin to rationalize why“this time is different.”They start taking on excess leverage to try and capitalize on the rapid advance in prices, and fundamentals take a back seat to price momentum.\nMarket melt-ups are all about“psychology.”Historically, whatever has been the catalyst to spark the disregard of risk is readily witnessed in the corresponding surge in price and valuations.The chart below shows the long-term deviations in relative strength, deviations, and valuations. The previous‘melt-up”periods should be easy to spot when compared with the advance currently.\n\nGiven that current extensions match only a few rare periods in history, a couple of points should be readily apparent.\n\nMelt-ups can longer than logic would predict.\nThe prevailing psychology is always “this time is different.”\nValuations are dismissed in exchange for measures of momentum and forward expectations.\nInvestors take on excess leverage and risk in order to participate in a seemingly “can’t lose” market.\nLastly, and inevitably, “melt-ups” end and always in the worst possible outcomes.\n\nIt is essential to recognize the markets are in a“melt-up,” and the duration of that event is unknowable. Therefore, investors need a strategy to participate in the advance and mitigate the damage from the eventual“melting-down.”\nSurviving The Melt-Up\nAs noted, none of this means the next“bear market”is lurking.Given that a market melting-up is a function of psychology, they can last longer and go further than logic would predict. What is required to “end”a melt-up is an unanticipated exogenous event that changes psychology from bullish to bearish. Such is when the stampede for the exits occurs, and prices decline very quickly.\nAs such, investors need a set of guidelines to participate in the market advance. But, of course, the hard part is keeping those gains when corrections inevitably occur.\nAs portfolio managers for our clients, such is precisely the approach we must take. Accordingly, I have provided a general overview of the process that we employ.\n\nTighten up stop-loss levelsto current support levels for each position.(Provides identifiable exit points when the market reverses.)\nHedge portfoliosagainst major market declines.(Non-correlated assets, short-market positions, index put options)\nTake profitsin positions that have been big winners(Rebalancing overbought or extended positions to capture gains but continue to participate in the advance.)\nSell laggardsand losers.(If something isn’t working in a market melt-up, it most likely won’t work during a broad decline. Better to eliminate the risk early.)\nRaise cashand rebalance portfolios to target weightings.(Rebalancing risk on a regular basis keeps hidden risks somewhat mitigated.)\n\nNotice, nothing in there says,“sell everything and go to cash.”\nThere will be a time to raise significant levels of cash. A good portfolio management strategy will automatically ensure that“stop-loss”levels get triggered, exposure decreases, and cash levels rise when the selling begins.\nWhile it is essential to take advantage of the melt-up while it lasts, just don’t become overly complacent“this time is different.”\nIt likely isn’t.","news_type":1},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820417399,"gmtCreate":1633415334961,"gmtModify":1633415335363,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/820417399","repostId":"2172968917","repostType":4,"repost":{"id":"2172968917","pubTimestamp":1633395971,"share":"https://www.laohu8.com/m/news/2172968917?lang=&edition=full","pubTime":"2021-10-05 09:06","market":"us","language":"en","title":"Why Adobe Stock Is a Buy for the Coming $10 Trillion \"Digital Transformation\" Boom","url":"https://stock-news.laohu8.com/highlight/detail?id=2172968917","media":"Motley Fool","summary":"Don't let a ho-hum September keep you away from this long-term winner.","content":"<p><b><a href=\"https://laohu8.com/S/ADBE\">Adobe</a> </b>(NASDAQ:ADBE) has hit the skids since its fiscal 2021 third quarter update in September. Shares are down some 12% on the month, putting the tech stock officially in \"correction\" territory. It's not that the report itself was bad, but fears that the software giant is \"overpriced\" and political angst caused by the U.S. debt limit debate have arisen.</p>\n<p>However, Adobe's cloud-based software is a key ingredient for getting work done these days and is still a fantastic long-term buy, especially with trillions of dollars expected to be spent on digital transformation tools like what Adobe offers.&nbsp;Here are three reasons to stay optimistic.</p>\n<h2>1. Adobe is a top partner for digital makeovers</h2>\n<p>Digital transformation (DX from here on out) is all the rage in the software community right now. Cloud computing was already promising to make business operations vastly more efficient and intuitive than in the past, but the pandemic proved beyond a doubt that the movement is the real deal. A frenzy of digital updates in the corporate world are now underway and could last for many years to come.</p>\n<p><img src=\"https://static.tigerbbs.com/b24d2cfc080b5567e11b770d940b9a41\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Image source: Getty Images.</p>\n<p>To drive home the point, we can borrow a statistic from tech researcher IDC -- <a href=\"https://laohu8.com/S/AONE.U\">one</a> that Adobe peer and fellow DX champion <b>salesforce.com </b>(NYSE:CRM) shared recently during its investor day. IDC thinks no less than $10 trillion will be spent on DX initiatives from 2019 through 2024, and 57% of total global IT spend will be on DX by 2024 compared to just 42% in 2020.</p>\n<p>While Adobe can only address a fraction of this huge spending spree, its focus on cloud-based creativity, marketing, document management, and customer engagement software positions it as a potential primary partner for any firm looking to get with the times. Having hauled in $15 billion in sales over the last 12 months, Adobe is a massive firm already. But given the relentlessly rising demand for its software,&nbsp;Adobe has no shortage of room to get much larger.</p>\n<h2>2. A highly profitable growth business</h2>\n<p>Adobe is undeniably a fantastic -- and perhaps underrated -- long-term growth story. It's been growing revenue at a double-digit percentage clip for years, and the company thinks momentum will continue. For the final quarter of fiscal 2021, management is forecasting about a 19% year-over-year increase in sales to $4.07 billion.</p>\n<p>But this stock isn't just for investors with a growth mindset. Adobe is wildly profitable, too. It's been generating operating profit margins of well over 20% over the last decade, and operating margin was at 36% over the last 12-month stretch. With its sticky suite of subscription-based creativity and data management software poised to continue growing, those lucrative profit margins aren't going away anytime soon.</p>\n<p>Pairing those consistent profits with double-digit sales expansion and a valuation currently at 48 times trailing-12-month earnings, a case could be made that Adobe is a value stock hiding in growth stock clothing.</p>\n<h2>3. A superb balance sheet that's constantly being replenished</h2>\n<p>As of Sept. 3, 2021, Adobe had $6.16 billion in cash and equivalents on the books, offset by debt of just $4.12 billion. Its cash hoard is constantly being fed, too. Adobe generated $6.61 billion of free cash flow in the last 12 months, some of which it added to the balance sheet. But management also returns an ample amount to shareholders. Adobe doesn't pay a dividend, but it does repurchase stock. It spent $1 billion in share buybacks during Q3 of fiscal 2021 alone.</p>\n<p>That still leaves plenty of capital for Adobe to invest in new software, or make the occasional acquisition. Its latest purchase: The proposed $1.275 billion takeover of video collaboration platform Frame.io, which boasts over one million users and will integrate with Adobe's existing toolkit for content creators.</p>\n<p>Adobe is still growing fast, generating plenty of profits, and in prime position to help lead its customers into a new digital era. The digital transformation movement is just beginning, so this stock deserves to be a top-of-mind pick to build a portfolio around.</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>Why Adobe Stock Is a Buy for the Coming $10 Trillion \"Digital Transformation\" Boom</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Adobe Stock Is a Buy for the Coming $10 Trillion \"Digital Transformation\" Boom\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-05 09:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/10/01/3-reasons-adobe-stock-is-a-buy-for-the-coming-10-t/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Adobe (NASDAQ:ADBE) has hit the skids since its fiscal 2021 third quarter update in September. Shares are down some 12% on the month, putting the tech stock officially in \"correction\" territory. It's ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/10/01/3-reasons-adobe-stock-is-a-buy-for-the-coming-10-t/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ADBE":"Adobe"},"source_url":"https://www.fool.com/investing/2021/10/01/3-reasons-adobe-stock-is-a-buy-for-the-coming-10-t/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2172968917","content_text":"Adobe (NASDAQ:ADBE) has hit the skids since its fiscal 2021 third quarter update in September. Shares are down some 12% on the month, putting the tech stock officially in \"correction\" territory. It's not that the report itself was bad, but fears that the software giant is \"overpriced\" and political angst caused by the U.S. debt limit debate have arisen.\nHowever, Adobe's cloud-based software is a key ingredient for getting work done these days and is still a fantastic long-term buy, especially with trillions of dollars expected to be spent on digital transformation tools like what Adobe offers. Here are three reasons to stay optimistic.\n1. Adobe is a top partner for digital makeovers\nDigital transformation (DX from here on out) is all the rage in the software community right now. Cloud computing was already promising to make business operations vastly more efficient and intuitive than in the past, but the pandemic proved beyond a doubt that the movement is the real deal. A frenzy of digital updates in the corporate world are now underway and could last for many years to come.\n\nImage source: Getty Images.\nTo drive home the point, we can borrow a statistic from tech researcher IDC -- one that Adobe peer and fellow DX champion salesforce.com (NYSE:CRM) shared recently during its investor day. IDC thinks no less than $10 trillion will be spent on DX initiatives from 2019 through 2024, and 57% of total global IT spend will be on DX by 2024 compared to just 42% in 2020.\nWhile Adobe can only address a fraction of this huge spending spree, its focus on cloud-based creativity, marketing, document management, and customer engagement software positions it as a potential primary partner for any firm looking to get with the times. Having hauled in $15 billion in sales over the last 12 months, Adobe is a massive firm already. But given the relentlessly rising demand for its software, Adobe has no shortage of room to get much larger.\n2. A highly profitable growth business\nAdobe is undeniably a fantastic -- and perhaps underrated -- long-term growth story. It's been growing revenue at a double-digit percentage clip for years, and the company thinks momentum will continue. For the final quarter of fiscal 2021, management is forecasting about a 19% year-over-year increase in sales to $4.07 billion.\nBut this stock isn't just for investors with a growth mindset. Adobe is wildly profitable, too. It's been generating operating profit margins of well over 20% over the last decade, and operating margin was at 36% over the last 12-month stretch. With its sticky suite of subscription-based creativity and data management software poised to continue growing, those lucrative profit margins aren't going away anytime soon.\nPairing those consistent profits with double-digit sales expansion and a valuation currently at 48 times trailing-12-month earnings, a case could be made that Adobe is a value stock hiding in growth stock clothing.\n3. A superb balance sheet that's constantly being replenished\nAs of Sept. 3, 2021, Adobe had $6.16 billion in cash and equivalents on the books, offset by debt of just $4.12 billion. Its cash hoard is constantly being fed, too. Adobe generated $6.61 billion of free cash flow in the last 12 months, some of which it added to the balance sheet. But management also returns an ample amount to shareholders. Adobe doesn't pay a dividend, but it does repurchase stock. It spent $1 billion in share buybacks during Q3 of fiscal 2021 alone.\nThat still leaves plenty of capital for Adobe to invest in new software, or make the occasional acquisition. Its latest purchase: The proposed $1.275 billion takeover of video collaboration platform Frame.io, which boasts over one million users and will integrate with Adobe's existing toolkit for content creators.\nAdobe is still growing fast, generating plenty of profits, and in prime position to help lead its customers into a new digital era. The digital transformation movement is just beginning, so this stock deserves to be a top-of-mind pick to build a portfolio around.","news_type":1},"isVote":1,"tweetType":1,"viewCount":632,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820061642,"gmtCreate":1633326575765,"gmtModify":1633326576108,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/820061642","repostId":"2172964814","repostType":4,"repost":{"id":"2172964814","pubTimestamp":1633319068,"share":"https://www.laohu8.com/m/news/2172964814?lang=&edition=full","pubTime":"2021-10-04 11:44","market":"us","language":"en","title":"Netflix Stock Is Making Record Highs; Could It Keep Going Higher?","url":"https://stock-news.laohu8.com/highlight/detail?id=2172964814","media":"Motley Fool","summary":"The stock benefited from the stay-at-home trend at the pandemic's onset and is maintaining that momentum.","content":"<span> <p><strong>Netflix</strong> <span>(NASDAQ:NFLX)</span> stock made another record high today, closing at $610 on Sept. 30.&nbsp;The company continues to sustain the momentum gained at the pandemic's onset when millions of people turned to Netflix to make the time cooped up at home more enjoyable.&nbsp;</p> <p>Investors were concerned that Netflix could shed some subscribers as economies reopened because people now have more options for spending their time and money on entertainment. That has not been the case thus far. Let's look at some causes for Netflix's stock rise to record highs, and whether it can continue or if it's due for a pullback.&nbsp;</p> \n <div> \n  <img src=\"https://static.tigerbbs.com/c1a5e2d62315ed7229df362a180a2a2e\"> \n  <p>Image source: Getty Images.</p> \n </div> <h2>Netflix is benefiting from the shift to streaming</h2> <p>Interestingly, Netflix is forecasting 3.5 million subscriber additions in its fiscal third quarter. If it hits that target, Netflix will have added a total of 54 million subscribers in the last 24 months. Overall, the company boasts 209 million members that pay to stream movies and shows to their TVs and mobile devices worldwide.</p> <p>The impressive subscriber growth is leading to impressive revenue growth. Indeed, from 2016 to 2020, revenue almost tripled, growing from $8.8 billion to $25 billion. In addition to providing quality service that attracts viewers, Netflix is the beneficiary or arguably the cause of a shift away from linear TV to streaming content. </p> <p>After all, signing up to Netflix is more convenient than a traditional cable subscription. The cable option comes with long-term contracts, a complex installation that requires a professional, and a higher price. In contrast, you can sign up for Netflix and start watching content in minutes, and for less than $1 per day. It's no surprise then that consumers are flocking to the service by the millions.&nbsp;</p> \n <div></div> <p>Still, there is a long runway for this growth to continue as Netflix currently consumes less overall attention from viewers than linear TV. </p> <h2>Netflix is growing efficiently&nbsp;</h2> <p>Moreover, Netflix is managing its growth efficiently. The company is not spending on content with reckless abandon. Management looks at how much revenue will come in for a given quarter or year and plans content spending based on that revenue total, making sure to leave room for steady operating profit expansion. Since January 2016, management has committed to a goal of increasing operating profit margin by 300 basis points per year, and so far, it is hitting the target (see chart).&nbsp;</p> \n <div> \n  <img src=\"https://static.tigerbbs.com/235bd6191e48fb938ef3f3835309e52b\"> \n  <p>Data by YCharts.</p> \n </div> <h2>Is Netflix stock expensive?&nbsp;</h2> <p>A common question arises whenever a stock rises to record highs: Is the stock too expensive to buy? The critical thing to note with Netflix is that its profits are rising along with its stock price. Over the last five years, earnings per share have increased substantially: starting with $0.43 in 2016, $1.25 in 2017, $2.68 in 2018, $4.13 in 2019, and $6.08 in 2020. </p> <p>That means even though Netflix stock is at record highs, it's trading for a price-to-earnings ratio (63) near the cheapest level in the last decade. To answer my question, Netflix is not expensive, and given its solid prospects, it can continue going even higher. </p> \n <div></div> \n <div></div> </span>","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>Netflix Stock Is Making Record Highs; Could It Keep Going Higher?</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\">\nNetflix Stock Is Making Record Highs; Could It Keep Going Higher?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-04 11:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/10/02/netflix-stock-makes-record-is-it-too-late-to-buy/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Netflix (NASDAQ:NFLX) stock made another record high today, closing at $610 on Sept. 30. The company continues to sustain the momentum gained at the pandemic's onset when millions of people turned to ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/10/02/netflix-stock-makes-record-is-it-too-late-to-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞"},"source_url":"https://www.fool.com/investing/2021/10/02/netflix-stock-makes-record-is-it-too-late-to-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2172964814","content_text":"Netflix (NASDAQ:NFLX) stock made another record high today, closing at $610 on Sept. 30. The company continues to sustain the momentum gained at the pandemic's onset when millions of people turned to Netflix to make the time cooped up at home more enjoyable.  Investors were concerned that Netflix could shed some subscribers as economies reopened because people now have more options for spending their time and money on entertainment. That has not been the case thus far. Let's look at some causes for Netflix's stock rise to record highs, and whether it can continue or if it's due for a pullback. \n\n\nImage source: Getty Images.\n Netflix is benefiting from the shift to streaming Interestingly, Netflix is forecasting 3.5 million subscriber additions in its fiscal third quarter. If it hits that target, Netflix will have added a total of 54 million subscribers in the last 24 months. Overall, the company boasts 209 million members that pay to stream movies and shows to their TVs and mobile devices worldwide. The impressive subscriber growth is leading to impressive revenue growth. Indeed, from 2016 to 2020, revenue almost tripled, growing from $8.8 billion to $25 billion. In addition to providing quality service that attracts viewers, Netflix is the beneficiary or arguably the cause of a shift away from linear TV to streaming content.  After all, signing up to Netflix is more convenient than a traditional cable subscription. The cable option comes with long-term contracts, a complex installation that requires a professional, and a higher price. In contrast, you can sign up for Netflix and start watching content in minutes, and for less than $1 per day. It's no surprise then that consumers are flocking to the service by the millions. \n Still, there is a long runway for this growth to continue as Netflix currently consumes less overall attention from viewers than linear TV.  Netflix is growing efficiently  Moreover, Netflix is managing its growth efficiently. The company is not spending on content with reckless abandon. Management looks at how much revenue will come in for a given quarter or year and plans content spending based on that revenue total, making sure to leave room for steady operating profit expansion. Since January 2016, management has committed to a goal of increasing operating profit margin by 300 basis points per year, and so far, it is hitting the target (see chart). \n\n\nData by YCharts.\n Is Netflix stock expensive?  A common question arises whenever a stock rises to record highs: Is the stock too expensive to buy? The critical thing to note with Netflix is that its profits are rising along with its stock price. Over the last five years, earnings per share have increased substantially: starting with $0.43 in 2016, $1.25 in 2017, $2.68 in 2018, $4.13 in 2019, and $6.08 in 2020.  That means even though Netflix stock is at record highs, it's trading for a price-to-earnings ratio (63) near the cheapest level in the last decade. To answer my question, Netflix is not expensive, and given its solid prospects, it can continue going even higher.","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868941715,"gmtCreate":1632582417937,"gmtModify":1632655232644,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868941715","repostId":"1149730497","repostType":4,"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":824875487,"gmtCreate":1634305827853,"gmtModify":1634305924077,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/824875487","repostId":"1144702308","repostType":4,"repost":{"id":"1144702308","pubTimestamp":1634305256,"share":"https://www.laohu8.com/m/news/1144702308?lang=&edition=full","pubTime":"2021-10-15 21:40","market":"us","language":"en","title":"Affirm: Guidance Is Even Better Than It Looks","url":"https://stock-news.laohu8.com/highlight/detail?id=1144702308","media":"Seeking Alpha","summary":"Summary\n\nAffirm's shares continue to soar higher. But at the same time, this company's story continu","content":"<p><b>Summary</b></p>\n<ul>\n <li>Affirm's shares continue to soar higher. But at the same time, this company's story continues to improve.</li>\n <li>Discussing Affirm's profitability profile and whether lackluster profit margins matter.</li>\n <li>Affirm is priced at 22x forward revenues. For a leading BNPL player, this is a fair price.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b74c01bdec967d1b16c9b0688e0aa8b5\" tg-width=\"1536\" tg-height=\"1262\" width=\"100%\" height=\"auto\"><span>solitude72/iStock via Getty Images</span></p>\n<p><b>Investment Thesis</b></p>\n<p>Affirm (AFRM) has seen its sizzling hot stock soar lately. Yet, as investors look forward to its guidance, there are even more reasons to be bullish on this name.</p>\n<p>Yes, the stock is not cheaply valued at 22x next year's revenues. But keep in mind, this is the going price for high-growth names in general. But in the case of Affirm, it's anything but another me-too company, it's the leading Buy Now Pay Later player in the US.</p>\n<p><b>Revenue Growth Rates And Guidance Discussed</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d48efc1efea8fde9b0ed9fafde5ccc4d\" tg-width=\"640\" tg-height=\"259\" width=\"100%\" height=\"auto\"><span>Source: Author's calculations, **company guidance</span></p>\n<p>Affirm's guidance for fiscal 2022 presently points towards 39% revenue growth rates. This growth rate is clearly a step down from<i>69% y/y Affirm's top-line growth in fiscal 2021.</i></p>\n<p>What investors are hoping for is that management is being incredibly conservative with its guidance and that Affirm has left plenty of room to positively impress investors.</p>\n<p>Next, perhaps most critical to consider is from the graphic above we can see that Q1 2021 is Affirm's most difficult lapping quarter. If Q1 2021 is being guided to grow by 44% y/y relative to the same period a year ago, then the remainder of the year will be a breeze for Affirm.</p>\n<p>Indeed, Q1 2021 was up nearly triple digits while Q2 2021 saw a dramatic step down to just 57% y/y growth. That means that when Affirm reports its guidance for Q2, investors will have a lot to be content about.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5edaae8a0e7427c44278d47e2ee0d913\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>And to be absolutely clear, it's not like investors have not stood up and taken notice of Affirm. Investors have seriously taken notice, yet the biggest detractors from the stock simply laid their bearish thesis on Affirm's valuation. And while I note that stock is far from cheap, there's a lot more here at play to consider.</p>\n<p><b>Why Affirm? Why Now?</b></p>\n<p><img src=\"https://static.tigerbbs.com/12bc0892e82fd3c8245361f241058046\" tg-width=\"640\" tg-height=\"514\" width=\"100%\" height=\"auto\"></p>\n<p>Affirm's stock was going nowhere fast, up until it announced its non-exclusive deal with Amazon (AMZN). At that point, the stock popped and hasn't looked back. Why was the non-exclusive deal with Amazon such a big deal?</p>\n<p>Firstly, it provides Affirm with plenty of awesome marketing. It's basically saying that Amazon chose Affirm to delight its consumers, why isn't your company?</p>\n<p>Secondly, the contributions to GMV from Amazon aren't factored into Affirm's fiscal 2022 guidance. Presently, Affirm is testing stages with Amazon. This will be a game-changer for Affirm once it's rolled out.</p>\n<p>Thirdly, partnering non-exclusively with Affirm will improve mind share with consumers. For a company still in the early stages of its growth trajectory into disrupting the credit card industry, this is a huge win for Affirm. Affirm, like countless other BNPL platforms, is in land-grab mode.</p>\n<p><img src=\"https://static.tigerbbs.com/0a89ee5b5d98192147f96a975a065ba8\" tg-width=\"640\" tg-height=\"134\" width=\"100%\" height=\"auto\"></p>\n<p>In fact, as you can see above, at first, customers only average 2 transactions over the first 12 months of adopting Affirm, but after 12 months, customers become habitual users of the platform. And we know that habits become hard to break.</p>\n<p><b>Do Profits Actually Matter in a Bull Market?</b></p>\n<p><img src=\"https://static.tigerbbs.com/3f1c26eabc4e7854cda35e62a998a0d0\" tg-width=\"664\" tg-height=\"495\" width=\"100%\" height=\"auto\"></p>\n<p>As you can see above, Affirm's profitability profile had been improving, with<i>Q1 2021 reporting negative 5% of adjusted profitability,</i>and with the passage of the remainder quarters, there was a noticeable improvement in overall profitability, ending with<i>Q4 2021 at a positive 5%.</i></p>\n<p>However, its guidance for Q1 2021 now points to a huge reversal, with its adjusted operating margins expected to arrive at a<i>negative 25%</i>- hence, this is obviously far from satisfying.</p>\n<p>That being said, readers should keep in mind that its adjusted operating margins guidance for the rest of fiscal 2022 is pointing to a negative 11%. This implies that the remainder of fiscal 2022 should see a meaningful improvement in its bottom-line profitability.</p>\n<p>All this being noted, I doubt that investors are seriously considering Affirm's profitability profile. For now, Affirm is a growth story stock, through and through.</p>\n<p><b>Valuation - Not Cheaply Priced</b></p>\n<p>On most traditional metrics, Affirm is far from cheap. Presently, it's priced at 22x forward sales. Compared with Visa (V) and Mastercard (MA), both of these transaction processing companies are priced cheaper at approximately 16x forward sales (after normalizing for year-end periods).</p>\n<p>Furthermore, the two more established payment titans are insanely profitable, with higher than 50% GAAP profit margins.</p>\n<p>Affirm, on the other hand, isn't likely to sustainably recognize GAAP profitability for some time. And when Affirm finally does become sustainably profitable, its profit margins aren't likely to be particularly high for a considerable amount of time, perhaps not even within the next decade.</p>\n<p>On a positive note, if we consider its convertible notes and funded debt on its balance sheet, Affirm carries a net cash position of approximately $1.4 billion. This is a fair amount of cash for Affirm to go about its land-grabbing strategy.</p>\n<p><b>The Bottom Line</b></p>\n<p>Affirm continues its rapid growth rates and taking market share in a highly lucrative market. All considered, the stock is still attractively priced.</p>\n<p>Affirm is priced at $36 billion. Could it become a $70 billion market cap company? It's a difficult question to answer which squarely is contingent on Affirm's ability to solidify its leading position in the BNPL space. That being said, for what's at play, the leading BNPL, I believe that paying $36 billion is attractive.</p>\n<p>In a nutshell, this is ''a firm'' buy.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Affirm: Guidance Is Even Better Than It Looks</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\">\nAffirm: Guidance Is Even Better Than It Looks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-15 21:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4459881-affirm-afrm-stock-guidance-better-than-it-looks><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAffirm's shares continue to soar higher. But at the same time, this company's story continues to improve.\nDiscussing Affirm's profitability profile and whether lackluster profit margins ...</p>\n\n<a href=\"https://seekingalpha.com/article/4459881-affirm-afrm-stock-guidance-better-than-it-looks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AFRM":"Affirm Holdings, Inc."},"source_url":"https://seekingalpha.com/article/4459881-affirm-afrm-stock-guidance-better-than-it-looks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144702308","content_text":"Summary\n\nAffirm's shares continue to soar higher. But at the same time, this company's story continues to improve.\nDiscussing Affirm's profitability profile and whether lackluster profit margins matter.\nAffirm is priced at 22x forward revenues. For a leading BNPL player, this is a fair price.\n\nsolitude72/iStock via Getty Images\nInvestment Thesis\nAffirm (AFRM) has seen its sizzling hot stock soar lately. Yet, as investors look forward to its guidance, there are even more reasons to be bullish on this name.\nYes, the stock is not cheaply valued at 22x next year's revenues. But keep in mind, this is the going price for high-growth names in general. But in the case of Affirm, it's anything but another me-too company, it's the leading Buy Now Pay Later player in the US.\nRevenue Growth Rates And Guidance Discussed\nSource: Author's calculations, **company guidance\nAffirm's guidance for fiscal 2022 presently points towards 39% revenue growth rates. This growth rate is clearly a step down from69% y/y Affirm's top-line growth in fiscal 2021.\nWhat investors are hoping for is that management is being incredibly conservative with its guidance and that Affirm has left plenty of room to positively impress investors.\nNext, perhaps most critical to consider is from the graphic above we can see that Q1 2021 is Affirm's most difficult lapping quarter. If Q1 2021 is being guided to grow by 44% y/y relative to the same period a year ago, then the remainder of the year will be a breeze for Affirm.\nIndeed, Q1 2021 was up nearly triple digits while Q2 2021 saw a dramatic step down to just 57% y/y growth. That means that when Affirm reports its guidance for Q2, investors will have a lot to be content about.\nData by YCharts\nAnd to be absolutely clear, it's not like investors have not stood up and taken notice of Affirm. Investors have seriously taken notice, yet the biggest detractors from the stock simply laid their bearish thesis on Affirm's valuation. And while I note that stock is far from cheap, there's a lot more here at play to consider.\nWhy Affirm? Why Now?\n\nAffirm's stock was going nowhere fast, up until it announced its non-exclusive deal with Amazon (AMZN). At that point, the stock popped and hasn't looked back. Why was the non-exclusive deal with Amazon such a big deal?\nFirstly, it provides Affirm with plenty of awesome marketing. It's basically saying that Amazon chose Affirm to delight its consumers, why isn't your company?\nSecondly, the contributions to GMV from Amazon aren't factored into Affirm's fiscal 2022 guidance. Presently, Affirm is testing stages with Amazon. This will be a game-changer for Affirm once it's rolled out.\nThirdly, partnering non-exclusively with Affirm will improve mind share with consumers. For a company still in the early stages of its growth trajectory into disrupting the credit card industry, this is a huge win for Affirm. Affirm, like countless other BNPL platforms, is in land-grab mode.\n\nIn fact, as you can see above, at first, customers only average 2 transactions over the first 12 months of adopting Affirm, but after 12 months, customers become habitual users of the platform. And we know that habits become hard to break.\nDo Profits Actually Matter in a Bull Market?\n\nAs you can see above, Affirm's profitability profile had been improving, withQ1 2021 reporting negative 5% of adjusted profitability,and with the passage of the remainder quarters, there was a noticeable improvement in overall profitability, ending withQ4 2021 at a positive 5%.\nHowever, its guidance for Q1 2021 now points to a huge reversal, with its adjusted operating margins expected to arrive at anegative 25%- hence, this is obviously far from satisfying.\nThat being said, readers should keep in mind that its adjusted operating margins guidance for the rest of fiscal 2022 is pointing to a negative 11%. This implies that the remainder of fiscal 2022 should see a meaningful improvement in its bottom-line profitability.\nAll this being noted, I doubt that investors are seriously considering Affirm's profitability profile. For now, Affirm is a growth story stock, through and through.\nValuation - Not Cheaply Priced\nOn most traditional metrics, Affirm is far from cheap. Presently, it's priced at 22x forward sales. Compared with Visa (V) and Mastercard (MA), both of these transaction processing companies are priced cheaper at approximately 16x forward sales (after normalizing for year-end periods).\nFurthermore, the two more established payment titans are insanely profitable, with higher than 50% GAAP profit margins.\nAffirm, on the other hand, isn't likely to sustainably recognize GAAP profitability for some time. And when Affirm finally does become sustainably profitable, its profit margins aren't likely to be particularly high for a considerable amount of time, perhaps not even within the next decade.\nOn a positive note, if we consider its convertible notes and funded debt on its balance sheet, Affirm carries a net cash position of approximately $1.4 billion. This is a fair amount of cash for Affirm to go about its land-grabbing strategy.\nThe Bottom Line\nAffirm continues its rapid growth rates and taking market share in a highly lucrative market. All considered, the stock is still attractively priced.\nAffirm is priced at $36 billion. Could it become a $70 billion market cap company? It's a difficult question to answer which squarely is contingent on Affirm's ability to solidify its leading position in the BNPL space. That being said, for what's at play, the leading BNPL, I believe that paying $36 billion is attractive.\nIn a nutshell, this is ''a firm'' buy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868580629,"gmtCreate":1632671644661,"gmtModify":1632798662634,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/868580629","repostId":"1142057327","repostType":4,"repost":{"id":"1142057327","pubTimestamp":1632643246,"share":"https://www.laohu8.com/m/news/1142057327?lang=&edition=full","pubTime":"2021-09-26 16:00","market":"hk","language":"en","title":"Intel Starts Construction of Two Arizona Computer Chip Factories","url":"https://stock-news.laohu8.com/highlight/detail?id=1142057327","media":"The street","summary":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to","content":"<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.</p>\n<p>Intel&nbsp;(<b>INTC</b>) -Get Intel Corporation (INTC) Report&nbsp;on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help&nbsp;alleviate the severe shortage of semiconductors in the U.S.</p>\n<p>The Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.</p>\n<p>Intel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.</p>\n<p>“Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.</p>\n<p>\"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.</p>\n<p>Shares of Intel on Friday traded 0.18% higher to $54.32 after hours.</p>\n<p>Gelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.</p>\n<p>The two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.</p>\n<p>Intel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.</p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Intel Starts Construction of Two Arizona Computer Chip Factories</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\">\nIntel Starts Construction of Two Arizona Computer Chip Factories\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-26 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories><strong>The street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.\nIntel (INTC) -Get Intel Corporation (INTC)...</p>\n\n<a href=\"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"INTC":"英特尔"},"source_url":"https://www.thestreet.com/investing/intel-starts-construction-of-two-arizona-computer-chip-factories","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142057327","content_text":"Intel broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help meet the high demand for semiconductors in the U.S.\nIntel (INTC) -Get Intel Corporation (INTC) Report on Friday broke ground on two new computer chip factories in Arizona as part of a $20 billion project to help alleviate the severe shortage of semiconductors in the U.S.\nThe Santa Clara, Calif.-basedsemiconductor chip manufacturer'sCEO Pat Gelsinger led the project's groundbreaking ceremony at the company's Ocotillo campus in Chandler, Ariz., marking the largest private investment in the state's history.\nIntel expects the factories to be fully operational in 2024 to manufacture the company's most advanced process technologies.\n“Today’s celebration marks an important milestone as we work to boost capacity and meet the incredible demand for semiconductors: the foundational technology for the digitization of everything,\" Gelsinger said in acompany statement. \"We are ushering in a new era of innovation – for Intel, for Arizona and for the world. This $20 billion expansion will bring our total investment in Arizona to more than $50 billion since opening the site over 40 years ago.\n\"As the only U.S.-based leading-edge chipmaker, we are committed to building on this long-term investment and helping the United States regain semiconductor leadership,” Gelsinger said.\nShares of Intel on Friday traded 0.18% higher to $54.32 after hours.\nGelsinger on Thursday participated in a virtual meeting with tech company executives and Commerce Secretary Gina Raimondo to address the global semiconductor chip shortage, which has interfered with production in the high-tech, electronics and automotive industries.\nThe two new factories, to be named Fab 52 and Fab 62, will house a total of six semiconductor fabs. The project will create over 3,000 high-tech, high-wage Intel jobs, 3,000 construction jobs and support an estimated 15,000 additional indirect jobs in the local community.\nIntel rival Taiwan Semiconductor Manufacturing Co.plans to buildits second U.S. chip factory also in Arizona and targets production to begin in 2024.","news_type":1},"isVote":1,"tweetType":1,"viewCount":422,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":820061751,"gmtCreate":1633326608204,"gmtModify":1633326753563,"author":{"id":"3575936957429593","authorId":"3575936957429593","name":"alvernsim","avatar":"https://static.tigerbbs.com/c2fe3d62fe9cea4c6c6e6417f045322d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/WEBR\">$Weber Inc.(WEBR)$</a>Pheeww","listText":"<a href=\"https://laohu8.com/S/WEBR\">$Weber Inc.(WEBR)$</a>Pheeww","text":"$Weber Inc.(WEBR)$Pheeww","images":[{"img":"https://static.tigerbbs.com/a95ae6b46c453f58d062e21e2c4ddd6e","width":"1125","height":"4178"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/820061751","isVote":1,"tweetType":1,"viewCount":580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"lives":[]}