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SkylerTan

SkylerTan

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2021-07-06

SHARES of SingMyanmar^: Y45 +12.82% were up on Monday after the investment company announced it was pivoting its direction towards technology-based software-as-a-service (SaaS) businesses.As at 11.32am, the counter gained 10.6 Singapore cents or 151.4 per cent to reach its intraday peak of 17.6 Singapore cents amid heavy trading, with some 18.2 million shares changing hands.On June 30, the company said it would pivot the company's direction to include cryptocurrency, SaaS and other high-tech platforms.It would also look to work with other partners in the areas of gaming, augmented reality and digital entertainment, and electric vehicles and robotics.The company had previously announced it was entering into a subscription agreement with China-based Internet company The9, which will become a

2022-07-09

Wooray!!! [Happy] [Happy] [Happy]

2022-07-05

制铁市场怎么都不起

2022-07-05

$METAL COMPONENT ENGG LTD(5DX.SI)$ 钢铁越来越贵股价越来越跌 [Facepalm] [Facepalm] [Facepalm]

2022-06-09

Sure bo?

3 Reasons to Buy GameStop, and 1 to Sell

2022-06-08

$GENTING SINGAPORE LIMITED(G13.SI)$ gogogo

2022-06-08

$METAL COMPONENT ENGG LTD(5DX.SI)$[Cry] [Cry] [Cry]

2022-06-08

thanks[Happy]

昨夜今晨 | 能源股力挺美股盘中转涨，中概继续走强惊艳

2022-06-06

$METAL COMPONENT ENGG LTD(5DX.SI)$ so sad

2022-05-26

$GENTING SINGAPORE LIMITED(G13.SI)$ well, i believe on singapore!

2022-03-02

$GENTING SINGAPORE LIMITED(G13.SI)$hahhahahahaha

2022-03-02

Erm.. Hhaha

如何摆脱“小赚大亏”的怪圈？仓位管理是关键

2022-02-21

$GENTING SINGAPORE LIMITED(G13.SI)$[shy]

2022-02-21

Erm

谁在交易通胀？

2022-02-21

[Happy]

谁在交易通胀？

2022-02-21

[Happy]

谁在交易通胀？

2022-02-18

$GENTING SINGAPORE LIMITED(G13.SI)$ haha nvm slowly wait

2022-02-08

$METAL COMPONENT ENGG LTD(5DX.SI)$go up pls....

2021-12-17

Daily mission, like pls thanks

Uber: Ugly Duckling Is Growing Up

2021-11-12

$DISA LIMITED(532.SI)$ from june till now, no movement at all... Everyday 0.01 - 0.02... Can't close it also... Money kena stuck inside here with no earning...

2021-11-03

[难过] why i didn't get attempt

@小虎活动:[Halloween Game] Trade or Treat!

去老虎APP查看更多动态

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of SingMyanmar^: Y45 +12.82% were up on Monday after the investment company announced it was pivoting its direction towards technology-based software-as-a-service (SaaS) businesses.As at 11.32am, the counter gained 10.6 Singapore cents or 151.4 per cent to reach its intraday peak of 17.6 Singapore cents amid heavy trading, with some 18.2 million shares changing hands.On June 30, the company said it would pivot the company's direction to include cryptocurrency, SaaS and other high-tech platforms.It would also look to work with other partners in the areas of gaming, augmented reality and digital entertainment, and electric vehicles and robotics.The company had previously announced it was entering into a subscription agreement with China-based Internet company The9, which will become a","listText":"SHARES of SingMyanmar^: Y45 +12.82% were up on Monday after the investment company announced it was pivoting its direction towards technology-based software-as-a-service (SaaS) businesses.As at 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30, the company said it would pivot the company's direction to include cryptocurrency, SaaS and other high-tech platforms.It would also look to work with other partners in the areas of gaming, augmented reality and digital entertainment, and electric vehicles and robotics.The company had previously announced it was entering into a subscription agreement with China-based Internet company The9, which will become a","images":[{"img":"https://static.tigerbbs.com/c32635b708726833de617298eb86b1cf","width":"1080","height":"1920"}],"top":2,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":18,"repostSize":0,"link":"https://laohu8.com/post/154578050","isVote":1,"tweetType":1,"viewCount":999,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":688317558,"gmtCreate":1657378729176,"gmtModify":1704867273073,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wooray!!!&nbsp;[Happy]&nbsp;[Happy]&nbsp;[Happy]&nbsp;","listText":"Wooray!!!&nbsp;[Happy]&nbsp;[Happy]&nbsp;[Happy]&nbsp;","text":"Wooray!!! [Happy] [Happy] [Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/688317558","isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":681274330,"gmtCreate":1657033519922,"gmtModify":1704866344919,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"制铁市场 怎么都不起","listText":"制铁市场 怎么都不起","text":"制铁市场 怎么都不起","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/681274330","isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":681234269,"gmtCreate":1657005671552,"gmtModify":1704866226587,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/5DX.SI\">$METAL COMPONENT ENGG LTD(5DX.SI)$</a> 钢铁越来越贵 股价越来越跌&nbsp;[Facepalm]&nbsp;[Facepalm]&nbsp;[Facepalm]&nbsp;","listText":"<a href=\"https://laohu8.com/S/5DX.SI\">$METAL COMPONENT ENGG LTD(5DX.SI)$</a> 钢铁越来越贵 股价越来越跌&nbsp;[Facepalm]&nbsp;[Facepalm]&nbsp;[Facepalm]&nbsp;","text":"$METAL COMPONENT ENGG LTD(5DX.SI)$ 钢铁越来越贵 股价越来越跌 [Facepalm] [Facepalm] [Facepalm]","images":[{"img":"https://static.tigerbbs.com/3b9269fd8912c42a6f3d041f81e7cfab","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/681234269","isVote":1,"tweetType":1,"viewCount":655,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":680396658,"gmtCreate":1654767577176,"gmtModify":1704860368414,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Sure bo?&nbsp;","listText":"Sure bo?&nbsp;","text":"Sure bo?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/680396658","repostId":"2241892197","repostType":4,"repost":{"id":"2241892197","pubTimestamp":1654766946,"share":"https://www.laohu8.com/m/news/2241892197?lang=&edition=full","pubTime":"2022-06-09 17:29","market":"us","language":"en","title":"3 Reasons to Buy GameStop, and 1 to Sell","url":"https://stock-news.laohu8.com/highlight/detail?id=2241892197","media":"Motley Fool","summary":"The retailer is undergoing a transformation to align with the digital future of gaming.","content":"<html><head></head><body><p>Most arguments in favor of buying <b>GameStop</b> center around the power of its meme stock status. It remains <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most discussed stocks online, and because meme stock prices are often driven by social media chatter rather than business fundamentals, its top-of-mind position with investors makes the stock appealing to many.</p><p>Yet I still subscribe to the notion an investment needs to be based on something less transitory than whether a stock is popular on Reddit. Stocks remain the greatest wealth creation vehicle available, so buying and holding good companies for many years, decades even, is the best strategy for investing.</p><p>And though I&#39;ve been critical of GameStop, I do think a case can be made for the video game retailer to be a part of an investor&#39;s portfolio.</p><p>Below are the three top reasons why I think GameStop can be a buy, and one big red flag for why you ought to sell.</p><h2>Buy reason No. 1: Brand value</h2><p>Say what you want about GameStop surviving in an increasingly digital gaming world, but the video game shop is still synonymous with the gaming community and retains invaluable brand recognition.</p><p>That became evident during the lockdown phase of the pandemic when gamers immediately turned to GameStop&#39;s website as a place to buy gaming gear, paraphernalia, and games themselves. Transitioning to a more online-oriented focus won&#39;t be smooth for a retailer still very much rooted in the brick-and-mortar world, but it&#39;s also immersing itself in the digital sphere.</p><p>GameStop has said in financial filings, &#34;We are evolving from a video game retailer to a technology company that connects customers with games, entertainment, and a wide assortment of products,&#34; and that&#39;s why I think it&#39;s not just trying to become the <b>Amazon</b> of gaming, as Chairman Ryan Cohen notably declared but also the &#34;<b>Best Buy</b> of gaming.&#34;</p><h2>Buy reason No. 2: Embracing gaming&#39;s future</h2><p>Its recent launch of a non-fungible token (NFT) wallet that will enable transactions on GameStop&#39;s coming NFT marketplace is an indication Cohen is fully intent on making GameStop the go-to destination for where gaming is heading.</p><p>Blockchain gaming grew 2,000% last year to $4 billion, according to DappRadar and Blockchain Game Alliance. But in just the first quarter this year, spending in this space hit $2.5 billion.</p><p>GameStop&#39;s marketplace could become an important destination for gamers to purchase items for the in-game worlds they&#39;re building. The GameStop Wallet is a &#34;self-custodial <b>Ethereum</b> wallet,&#34; meaning the funds are controlled by a user alone and can be accessed without leaving a web browser.</p><h2>Buy reason No. 3: A clean balance sheet</h2><p>GameStop&#39;s first-quarter report wasn&#39;t what many had hoped with wider-than-expected losses, though for a company transitioning to a future growth stock from a decaying business, it should probably be expected. A lot of investment still needs to go into infrastructure, capacity, technology, and personnel to make the transformation.</p><p>Net sales increased 8% to just under $1.4 billion compared to approximately $1.3 billion last year, but sales are also well above the $1 billion it generated in the same period in 2019.</p><p>GameStop smartly used its meme stock status to pay off virtually all of its debt and had just $42 million left at the end of the first quarter but $1.0 billion in cash, meaning GameStop actually has the financial wherewithal to achieve its goals.</p><h2>The No. 1 reason to sell: A weak business with an overvalued stock</h2><p>Forget about GameStop&#39;s meme stock status, that it&#39;s splitting its stock, or even the theory that short-sellers and other dark, nefarious forces are plotting against the video game retailer to take it down.</p><p>Other than the hints at what is to come like the NFT business, GameStop has been fairly tight-lipped about how it&#39;s going to achieve its transformational goals, which makes it difficult to assess its business.</p><p>NPD Group says video game industry spending fell 8% in the first quarter with accessories down 16%, hardware falling 15%, and games off 7%. Even the console upgrade cycle may not be enough as supply-chain constraints are affecting availability, as reflected in the worse-than-expected losses when GameStop reported earnings last week. For a company trying to focus on the digital world, it must also grapple with consumer spending on mobile games declining 10% from last year.</p><p>GameStop reported a loss in the holiday season, its biggest quarter of the year. For the first quarter, GameStop experienced a rapid increase in its cash burn rate as it developed the NFT wallet and marketplace. Yet there was no mention once again of how it hopes to ever make money or what competitive advantages it possesses to help it overcome the structural changes underway in its industry.</p><p>That dispiriting outlook, juxtaposed against the video game retailer&#39;s still-elevated stock price, suggests GameStop remains wildly overvalued.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Reasons to Buy GameStop, and 1 to Sell</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Reasons to Buy GameStop, and 1 to Sell\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-09 17:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/06/08/3-reasons-to-buy-gamestop-and-1-to-sell/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Most arguments in favor of buying GameStop center around the power of its meme stock status. It remains one of the most discussed stocks online, and because meme stock prices are often driven by ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/08/3-reasons-to-buy-gamestop-and-1-to-sell/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.fool.com/investing/2022/06/08/3-reasons-to-buy-gamestop-and-1-to-sell/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2241892197","content_text":"Most arguments in favor of buying GameStop center around the power of its meme stock status. It remains one of the most discussed stocks online, and because meme stock prices are often driven by social media chatter rather than business fundamentals, its top-of-mind position with investors makes the stock appealing to many.Yet I still subscribe to the notion an investment needs to be based on something less transitory than whether a stock is popular on Reddit. Stocks remain the greatest wealth creation vehicle available, so buying and holding good companies for many years, decades even, is the best strategy for investing.And though I've been critical of GameStop, I do think a case can be made for the video game retailer to be a part of an investor's portfolio.Below are the three top reasons why I think GameStop can be a buy, and one big red flag for why you ought to sell.Buy reason No. 1: Brand valueSay what you want about GameStop surviving in an increasingly digital gaming world, but the video game shop is still synonymous with the gaming community and retains invaluable brand recognition.That became evident during the lockdown phase of the pandemic when gamers immediately turned to GameStop's website as a place to buy gaming gear, paraphernalia, and games themselves. Transitioning to a more online-oriented focus won't be smooth for a retailer still very much rooted in the brick-and-mortar world, but it's also immersing itself in the digital sphere.GameStop has said in financial filings, \"We are evolving from a video game retailer to a technology company that connects customers with games, entertainment, and a wide assortment of products,\" and that's why I think it's not just trying to become the Amazon of gaming, as Chairman Ryan Cohen notably declared but also the \"Best Buy of gaming.\"Buy reason No. 2: Embracing gaming's futureIts recent launch of a non-fungible token (NFT) wallet that will enable transactions on GameStop's coming NFT marketplace is an indication Cohen is fully intent on making GameStop the go-to destination for where gaming is heading.Blockchain gaming grew 2,000% last year to $4 billion, according to DappRadar and Blockchain Game Alliance. But in just the first quarter this year, spending in this space hit $2.5 billion.GameStop's marketplace could become an important destination for gamers to purchase items for the in-game worlds they're building. The GameStop Wallet is a \"self-custodial Ethereum wallet,\" meaning the funds are controlled by a user alone and can be accessed without leaving a web browser.Buy reason No. 3: A clean balance sheetGameStop's first-quarter report wasn't what many had hoped with wider-than-expected losses, though for a company transitioning to a future growth stock from a decaying business, it should probably be expected. A lot of investment still needs to go into infrastructure, capacity, technology, and personnel to make the transformation.Net sales increased 8% to just under $1.4 billion compared to approximately $1.3 billion last year, but sales are also well above the $1 billion it generated in the same period in 2019.GameStop smartly used its meme stock status to pay off virtually all of its debt and had just $42 million left at the end of the first quarter but $1.0 billion in cash, meaning GameStop actually has the financial wherewithal to achieve its goals.The No. 1 reason to sell: A weak business with an overvalued stockForget about GameStop's meme stock status, that it's splitting its stock, or even the theory that short-sellers and other dark, nefarious forces are plotting against the video game retailer to take it down.Other than the hints at what is to come like the NFT business, GameStop has been fairly tight-lipped about how it's going to achieve its transformational goals, which makes it difficult to assess its business.NPD Group says video game industry spending fell 8% in the first quarter with accessories down 16%, hardware falling 15%, and games off 7%. Even the console upgrade cycle may not be enough as supply-chain constraints are affecting availability, as reflected in the worse-than-expected losses when GameStop reported earnings last week. For a company trying to focus on the digital world, it must also grapple with consumer spending on mobile games declining 10% from last year.GameStop reported a loss in the holiday season, its biggest quarter of the year. For the first quarter, GameStop experienced a rapid increase in its cash burn rate as it developed the NFT wallet and marketplace. Yet there was no mention once again of how it hopes to ever make money or what competitive advantages it possesses to help it overcome the structural changes underway in its industry.That dispiriting outlook, juxtaposed against the video game retailer's still-elevated stock price, suggests GameStop remains wildly overvalued.","news_type":1},"isVote":1,"tweetType":1,"viewCount":672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":617725458,"gmtCreate":1654648333178,"gmtModify":1704859943788,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a> gogogo","listText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a> gogogo","text":"$GENTING SINGAPORE LIMITED(G13.SI)$ gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/617725458","isVote":1,"tweetType":1,"viewCount":774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":617725573,"gmtCreate":1654648311196,"gmtModify":1704859943615,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/5DX.SI\">$METAL COMPONENT ENGG LTD(5DX.SI)$</a>[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;","listText":"<a href=\"https://laohu8.com/S/5DX.SI\">$METAL COMPONENT ENGG LTD(5DX.SI)$</a>[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;","text":"$METAL COMPONENT ENGG LTD(5DX.SI)$[Cry] [Cry] [Cry]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/617725573","isVote":1,"tweetType":1,"viewCount":329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":617725636,"gmtCreate":1654648210128,"gmtModify":1704859943266,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"thanks[Happy]&nbsp;","listText":"thanks[Happy]&nbsp;","text":"thanks[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/617725636","repostId":"1199236151","repostType":4,"repost":{"id":"1199236151","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1654645026,"share":"https://www.laohu8.com/m/news/1199236151?lang=&edition=full","pubTime":"2022-06-08 07:37","market":"hk","language":"zh","title":"昨夜今晨 | 能源股力挺美股盘中转涨，中概继续走强惊艳","url":"https://stock-news.laohu8.com/highlight/detail?id=1199236151","media":"老虎资讯综合","summary":"摘要：①隔夜美股收高，三大指数均涨近1%；②美油收高0.77%，创三个月新高，布油涨0.89%，纽约黄金期货收高0.5%；③拜登宣布：美国进入能源紧急状态。④世行大幅下调今年经济增长预期至2.9%，警","content":"<html><head></head><body><blockquote>摘要：①隔夜美股收高，三大指数均涨近1%；②美油收高0.77%，创三个月新高，布油涨0.89%，纽约黄金期货收高0.5%；③拜登宣布：美国进入能源紧急状态。④世行大幅下调今年经济增长预期至2.9%，警示滞涨风险上升。</blockquote><p>海外市场</p><p>1、美股三大指数均涨近1% 能源股强劲：<a href=\"https://laohu8.com/S/XOM\">埃克森美孚</a>、<a href=\"https://laohu8.com/S/COP\">康菲石油</a>涨超4%</p><p>美股周二收高。美国国债收益率下降提振了市场情绪。市场仍在评估美国第二大零售商<a href=\"https://laohu8.com/S/TGT\">塔吉特</a>发布的业绩预警。美国财长耶伦称，美国正面临“不可接受的通货膨胀水平”的挑战。截止收盘，纳指涨0.94%，道指涨0.8%，标普500指数涨0.95%。</p><p>大型科技股普遍上涨，<a href=\"https://laohu8.com/S/AAPL\">苹果</a>涨1.76%，Meta涨0.72%，<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>涨0.28%，<a href=\"https://laohu8.com/S/MSFT\">微软</a>涨1.40%，奈飞涨0.75%，<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>跌1.43%。能源股表现强劲，埃克森美孚、康菲石油涨超4%，<a href=\"https://laohu8.com/S/SLB\">斯伦贝谢</a>涨超3%。</p><p>2、热门中概股延续反弹势头<a href=\"https://laohu8.com/S/PDD\">拼多多</a>涨超10%领跑</p><p>热门中概股延续反弹势头，电商、在线教育、新能源车板块普涨。</p><p>其中，拼多多涨超10%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>涨超5%；<a href=\"https://laohu8.com/S/GOTU\">高途</a>涨超16%，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>涨近10%，<a href=\"https://laohu8.com/S/NTES\">网易</a>有道涨超9%；<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>涨超3%，<a href=\"https://laohu8.com/S/NIO\">蔚来</a>、<a href=\"https://laohu8.com/S/LI\">理想汽车</a>涨超2%。</p><p>3、欧股集体收跌德国DAX30指数跌0.67%</p><p>欧股集体收跌，德国DAX30指数跌0.67%，<a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数跌0.14%，法国CAC40指数跌0.74%，欧洲斯托克50指数跌0.87%。</p><p>4、美国WTI原油周二收高0.77% 逼近120美元创三个月新高</p><p>美国原油期货价格周二收高。市场仍在评估风险偏好与紧张的原油市场供应状况。</p><p>最终，美油7月期货价格收涨0.77%，收于每桶119.41美元，刷新上周五所创的3月8日以来主力合约收盘高位。布伦特8月原油期货收涨0.89%，报120.57美元/桶，逼近上周二7月合约突破122美元所创的3月8日以来高位。</p><p>5、纽约黄金期货周二收高0.5%</p><p>纽约黄金期货价格周二收高。通胀担忧加剧了对贵金属的避险买盘，而且美国国债收益率下降则使金价获得进一步支撑。</p><p>最终，纽约商品交易所8月交割的黄金期货收涨0.5%，报收于每盎司1852.10美元。</p><p>国际宏观</p><p>1、拜登宣布：美国进入能源紧急状态</p><p>据环球网援引今日俄罗斯(RT)报道，美国总统拜登6日宣布美国进入能源紧急状态，称潜在的电力供应短缺已经危及到美国的国家安全和生活质量。RT称，拜登将出现这一危机的部分原因归咎于俄罗斯。</p><p>报道称，拜登在紧急声明中说，“多种因素正在威胁美国提供足够电力，以满足预期的消费者需求的能力”，“这些因素包括俄罗斯‘入侵’乌克兰导致的能源市场中断，以及气候变化加剧的极端天气事件。”</p><p>2、世行大幅下调今年经济增长预期至2.9% 警示滞涨风险上升</p><p>当地时间周二(6月7日)，世界银行在其最新一期《全球经济展望》报告中大幅下调了今年全球增长预期，理由是俄乌冲突加剧了全球经济的放缓，许多国家面临经济衰退。</p><p>3、耶伦为拜登经济政策辩护：高通胀遍布全球 皆因俄乌局势影响</p><p>当地时间周二(6月7日)，美国财政部长耶伦在参议院财政委员会听证会上表示，美国通货膨胀居高不下，正处于“不可接受的水平”。</p><p>耶伦说道：“尽管我非常希望通胀现在就下降，但我确实预计它还将保持在高位。”耶伦明日还将在众议院筹款委员会作证，讨论总统拜登的2023财年预算。</p><p>她补充称，拜登总统预算要求中包含的美国4.7%的通货膨胀预测可能将被上调，“数字并没有被锁定，可能会更高。”这与她上周的一次演讲内容相呼应，当时她承认过去对“暂时性”通胀的看法是错误的。</p><p>4、美联储预测模型显示美国经济或处于衰退边缘</p><p>在周二发布的更新数据中，亚特兰大联储的GDPNow预测模型指向美国二季度的年化增长率仅为0.9%。</p><p>GDPNow实时跟踪经济数据，并用其预测经济走向。该模型目前对二季度实际GDP增长(经季节性调整的年增长率)的预估为0.9%，低于6月1日的1.3%。</p><p>连续两个季度GDP为负通常被认为是经济衰退。美国国家经济研究局表示，该经验法则通常是正确的，但并非总是如此。例如，2020年的经济衰退只出现了一个季度的负增长。</p><p>5、美联储隔夜逆回购工具使用量激增至创纪录新高</p><p>由于投资者仍在寻找安置短期现金的地方，美联储隔夜逆回购使用量再次达到历史高位。</p><p>98位参与者进行了总计2.091万亿美元的逆回购操作，前高点是5月23日创下的2.045万亿美元。周二的数字比前一个交易日高出513亿美元。</p><p>6、美国财政部扩大购买俄罗斯债券的禁令</p><p>美国财政部颁布禁令，阻止美国投资者在二级市场购买俄罗斯债券，这是对现有政策的扩展。现有政策仅禁止购买新发行的俄罗斯政府债券和部分俄罗斯企业债券。</p><p>7、黑田东彦重申维持宽松政策，美日续创20年新高</p><p>日本央行行长黑田东彦表示，将以收益率曲线控制(YCC)为支柱，保持强有力的宽松政策。周二美元兑日元盘中一度站上133关口，续创20年新高.</p><p>8、印尼调整棕榈油出口税以加速棕榈油出口</p><p>印尼贸易部官员称，将毛棕榈油出口税(tax)的最大值提高至288美元/吨，将出口专项税(levy)的最大值降低至200美元/吨。此次调整旨在加速棕榈油出口。</p><p>俄乌局势</p><p>1、俄军：已控制大部分地区，摧毁2门美制榴弹炮</p><p>据央视新闻消息，当地时间6月7日，俄罗斯国防部长绍伊古表示，俄军已经控制了斯维亚托戈尔斯克在内的顿涅茨克和卢甘斯克大部分地区，目前已完全控制了北顿涅茨克的居民区。此外，绍伊古称，自俄军2月24日在乌克兰发起特别军事行动以来，共有6489名乌军士兵投降。</p><p>7日当天，俄罗斯国防部发言人科纳申科夫在新闻发布会上表示，俄军一天消灭乌军570多人，击落12架无人机，一天内摧毁挪威提供给乌克兰的一辆自行榴弹炮和美国提供的2门榴弹炮。</p><p>2、普京：俄罗斯国内的通货膨胀已得到控制</p><p>俄罗斯总统普京表示，俄罗斯国内的通货膨胀已得到控制，他责令俄罗斯政府应当帮助经济部门渡过目前的难关。普京还称，外汇市场稳定，卢布走强允许放松资本管制。</p><p>3、俄防长绍伊古：俄军已经控制顿涅茨克和卢甘斯克大部分地区</p><p>俄罗斯国防部长绍伊古表示，俄军已经控制了斯维亚托戈尔斯克在内的顿涅茨克和卢甘斯克大部分地区，目前已完全控制了北顿涅茨克的居民区。</p><p>4、乌外交部：任何不考虑乌利益的解除对乌港口封锁的协议都将被拒绝</p><p>乌克兰外交部发表声明称，目前乌克兰、土耳其和俄罗斯之间没有就解除对乌克兰港口“封锁”问题达成协议。乌克兰强调，必须在所有相关方的参与下做出决定，任何不考虑乌克兰利益的协议都将被拒绝。</p><p>公司新闻</p><p>1、<a href=\"https://laohu8.com/NW/1189630255\" target=\"_blank\">燃爆！比亚迪市值超越大众 跻身全球前三</a></p><p>6月7日，全球车企市值最新排行榜显示，比亚迪超过大众汽车集团，排位跃升至第三名，总市值达1272.3亿美元。同时，比亚迪也是前10榜单中唯一的中国车企。</p><p>2、<a href=\"https://laohu8.com/NW/2241889712\" target=\"_blank\">收购推特交易再生变数？马斯克发起的融资谈判据称已被暂时搁置</a></p><p>据媒体援引消息人士报道，鉴于交易中的不确定性，<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>CEO埃隆·马斯克为收购推特而进行的融资已被暂时搁置，直到收购交易的前景变得更加明朗。</p><p>3、<a href=\"https://laohu8.com/NW/2241027517\" target=\"_blank\">释放缓和情绪 墨西哥总统提及“尊重”赣锋锂业采矿许可</a></p><p>综合媒体报道，墨西哥总统安德列斯·曼努埃尔·洛佩斯·奥夫拉多尔(简称AMLO)对索诺拉锂矿的前景，给出了缓和气氛的评论。</p><p>周一在墨西哥国家宫举行的新闻发布会上，AMLO也被问及<a href=\"https://laohu8.com/S/01772\">赣锋锂业</a>墨西哥采矿权的问题，对此总统表示：“如果他们要求开采锂矿且(协议是)合理有序的，同时还会有一个勘探和生产项目，那么这些(权利)都会得到尊重。”</p><p>4、<a href=\"https://laohu8.com/NW/2241908004\" target=\"_blank\">IBM宣布退出俄罗斯市场，已暂停在俄所有业务</a></p><p>据今日俄罗斯报道，IBM当地时间6月7日宣布，由于俄乌冲突，公司将退出俄罗斯市场。公司首席执行官阿尔温德 克里希纳表示，已经暂停了在俄罗斯的所有业务。当天，公司的俄罗斯网站也显示，无法读取内容。报道称，3月初，IBM就宣布暂停在俄罗斯的商业活动，并终止了与俄军工企业的合作。</p><p>5、诺瓦瓦克斯：旗下新冠疫苗将由印度血清研究所生产</p><p>当地时间周二(6月7日)，诺瓦瓦克斯公司表示，如果获得授权，其新冠疫苗将由印度血清研究所(Serum Institute of India)生产。据《<a href=\"https://laohu8.com/S/NYT\">纽约时报</a>》报道，美国食品药品监督管理局(FDA)顾问周二建议批准诺瓦瓦克斯的新冠疫苗。</p><p>6、<a href=\"https://laohu8.com/NW/2241028097\" target=\"_blank\">亚马逊高管呼吁平台卖家反对美国反垄断立法，遭大多数卖家拒绝</a></p><p>美国国会很可能通过的科技行业反垄断改革正在引起亚马逊的担忧。该公司一名高管最近试图在互联网讨论版上游说第三方卖家，但遭到了大多数卖家的拒绝。许多卖家对亚马逊的立场提出异议，并表示他们打算支持新的立法。新立法将对美国的反垄断法进行彻底改革，限制大型科技公司的权利。</p><p>7、<a href=\"https://laohu8.com/S/603888\">新华网</a>与奥丁科技联合打造超写实<a href=\"https://laohu8.com/S/835670\">数字人</a>“筱竹”</p><p>近日，新华网首个超写实数字人——“筱竹”正式对外发布。 奥丁科技作为合作方，与新华网共同研发、制作了数字人“筱竹”。据介绍，新华网和奥丁科技达成原生数字人IP孵化合作，并启动数字人开发计划。未来新华网与奥丁将共建一系列以数字人为核心的原创IP。</p><p>8、<a href=\"https://laohu8.com/NW/1195127004\" target=\"_blank\">字节跳动考虑出售得物少数股份，估值超100亿美元</a></p><p>知情人士称，字节跳动公司正考虑出售潮鞋在线平台得物(Poizon)少数股权。字节跳动正在就出售较低个位数百分比股份展开谈判，更愿意出售给现有投资者。得物是上海识装信息科技有限公司推出的潮流网购社区，其估值超过100亿美元。得物网站显示，其月活跃用户超过1亿，<a href=\"https://laohu8.com/S/NKE\">耐克</a>、<a href=\"https://laohu8.com/S/0OLD.UK\">阿迪达斯</a>、任天堂是其品牌合作伙伴。</p><p>9、董明珠：格力今年不裁员，再招三五千大学生</p><p><a href=\"https://laohu8.com/S/000651\">格力电器</a>董事长兼总裁董明珠在年度股东大会上表示，格力坚持不裁员，而且今年还会再招3000到5000名大学毕业生。对于高翎入股，董明珠称绝对可以放心，投资者不需要有什么疑虑。董明珠同时表示，格力手机不比苹果差。</p></body></html>","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>昨夜今晨 | 能源股力挺美股盘中转涨，中概继续走强惊艳</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n昨夜今晨 | 能源股力挺美股盘中转涨，中概继续走强惊艳\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2022-06-08 07:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote>摘要：①隔夜美股收高，三大指数均涨近1%；②美油收高0.77%，创三个月新高，布油涨0.89%，纽约黄金期货收高0.5%；③拜登宣布：美国进入能源紧急状态。④世行大幅下调今年经济增长预期至2.9%，警示滞涨风险上升。</blockquote><p>海外市场</p><p>1、美股三大指数均涨近1% 能源股强劲：<a href=\"https://laohu8.com/S/XOM\">埃克森美孚</a>、<a href=\"https://laohu8.com/S/COP\">康菲石油</a>涨超4%</p><p>美股周二收高。美国国债收益率下降提振了市场情绪。市场仍在评估美国第二大零售商<a href=\"https://laohu8.com/S/TGT\">塔吉特</a>发布的业绩预警。美国财长耶伦称，美国正面临“不可接受的通货膨胀水平”的挑战。截止收盘，纳指涨0.94%，道指涨0.8%，标普500指数涨0.95%。</p><p>大型科技股普遍上涨，<a href=\"https://laohu8.com/S/AAPL\">苹果</a>涨1.76%，Meta涨0.72%，<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>涨0.28%，<a href=\"https://laohu8.com/S/MSFT\">微软</a>涨1.40%，奈飞涨0.75%，<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>跌1.43%。能源股表现强劲，埃克森美孚、康菲石油涨超4%，<a href=\"https://laohu8.com/S/SLB\">斯伦贝谢</a>涨超3%。</p><p>2、热门中概股延续反弹势头<a href=\"https://laohu8.com/S/PDD\">拼多多</a>涨超10%领跑</p><p>热门中概股延续反弹势头，电商、在线教育、新能源车板块普涨。</p><p>其中，拼多多涨超10%，<a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>涨超5%；<a href=\"https://laohu8.com/S/GOTU\">高途</a>涨超16%，<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>涨近10%，<a href=\"https://laohu8.com/S/NTES\">网易</a>有道涨超9%；<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>涨超3%，<a href=\"https://laohu8.com/S/NIO\">蔚来</a>、<a href=\"https://laohu8.com/S/LI\">理想汽车</a>涨超2%。</p><p>3、欧股集体收跌德国DAX30指数跌0.67%</p><p>欧股集体收跌，德国DAX30指数跌0.67%，<a href=\"https://laohu8.com/S/VUKE.UK\">英国富时100</a>指数跌0.14%，法国CAC40指数跌0.74%，欧洲斯托克50指数跌0.87%。</p><p>4、美国WTI原油周二收高0.77% 逼近120美元创三个月新高</p><p>美国原油期货价格周二收高。市场仍在评估风险偏好与紧张的原油市场供应状况。</p><p>最终，美油7月期货价格收涨0.77%，收于每桶119.41美元，刷新上周五所创的3月8日以来主力合约收盘高位。布伦特8月原油期货收涨0.89%，报120.57美元/桶，逼近上周二7月合约突破122美元所创的3月8日以来高位。</p><p>5、纽约黄金期货周二收高0.5%</p><p>纽约黄金期货价格周二收高。通胀担忧加剧了对贵金属的避险买盘，而且美国国债收益率下降则使金价获得进一步支撑。</p><p>最终，纽约商品交易所8月交割的黄金期货收涨0.5%，报收于每盎司1852.10美元。</p><p>国际宏观</p><p>1、拜登宣布：美国进入能源紧急状态</p><p>据环球网援引今日俄罗斯(RT)报道，美国总统拜登6日宣布美国进入能源紧急状态，称潜在的电力供应短缺已经危及到美国的国家安全和生活质量。RT称，拜登将出现这一危机的部分原因归咎于俄罗斯。</p><p>报道称，拜登在紧急声明中说，“多种因素正在威胁美国提供足够电力，以满足预期的消费者需求的能力”，“这些因素包括俄罗斯‘入侵’乌克兰导致的能源市场中断，以及气候变化加剧的极端天气事件。”</p><p>2、世行大幅下调今年经济增长预期至2.9% 警示滞涨风险上升</p><p>当地时间周二(6月7日)，世界银行在其最新一期《全球经济展望》报告中大幅下调了今年全球增长预期，理由是俄乌冲突加剧了全球经济的放缓，许多国家面临经济衰退。</p><p>3、耶伦为拜登经济政策辩护：高通胀遍布全球 皆因俄乌局势影响</p><p>当地时间周二(6月7日)，美国财政部长耶伦在参议院财政委员会听证会上表示，美国通货膨胀居高不下，正处于“不可接受的水平”。</p><p>耶伦说道：“尽管我非常希望通胀现在就下降，但我确实预计它还将保持在高位。”耶伦明日还将在众议院筹款委员会作证，讨论总统拜登的2023财年预算。</p><p>她补充称，拜登总统预算要求中包含的美国4.7%的通货膨胀预测可能将被上调，“数字并没有被锁定，可能会更高。”这与她上周的一次演讲内容相呼应，当时她承认过去对“暂时性”通胀的看法是错误的。</p><p>4、美联储预测模型显示美国经济或处于衰退边缘</p><p>在周二发布的更新数据中，亚特兰大联储的GDPNow预测模型指向美国二季度的年化增长率仅为0.9%。</p><p>GDPNow实时跟踪经济数据，并用其预测经济走向。该模型目前对二季度实际GDP增长(经季节性调整的年增长率)的预估为0.9%，低于6月1日的1.3%。</p><p>连续两个季度GDP为负通常被认为是经济衰退。美国国家经济研究局表示，该经验法则通常是正确的，但并非总是如此。例如，2020年的经济衰退只出现了一个季度的负增长。</p><p>5、美联储隔夜逆回购工具使用量激增至创纪录新高</p><p>由于投资者仍在寻找安置短期现金的地方，美联储隔夜逆回购使用量再次达到历史高位。</p><p>98位参与者进行了总计2.091万亿美元的逆回购操作，前高点是5月23日创下的2.045万亿美元。周二的数字比前一个交易日高出513亿美元。</p><p>6、美国财政部扩大购买俄罗斯债券的禁令</p><p>美国财政部颁布禁令，阻止美国投资者在二级市场购买俄罗斯债券，这是对现有政策的扩展。现有政策仅禁止购买新发行的俄罗斯政府债券和部分俄罗斯企业债券。</p><p>7、黑田东彦重申维持宽松政策，美日续创20年新高</p><p>日本央行行长黑田东彦表示，将以收益率曲线控制(YCC)为支柱，保持强有力的宽松政策。周二美元兑日元盘中一度站上133关口，续创20年新高.</p><p>8、印尼调整棕榈油出口税以加速棕榈油出口</p><p>印尼贸易部官员称，将毛棕榈油出口税(tax)的最大值提高至288美元/吨，将出口专项税(levy)的最大值降低至200美元/吨。此次调整旨在加速棕榈油出口。</p><p>俄乌局势</p><p>1、俄军：已控制大部分地区，摧毁2门美制榴弹炮</p><p>据央视新闻消息，当地时间6月7日，俄罗斯国防部长绍伊古表示，俄军已经控制了斯维亚托戈尔斯克在内的顿涅茨克和卢甘斯克大部分地区，目前已完全控制了北顿涅茨克的居民区。此外，绍伊古称，自俄军2月24日在乌克兰发起特别军事行动以来，共有6489名乌军士兵投降。</p><p>7日当天，俄罗斯国防部发言人科纳申科夫在新闻发布会上表示，俄军一天消灭乌军570多人，击落12架无人机，一天内摧毁挪威提供给乌克兰的一辆自行榴弹炮和美国提供的2门榴弹炮。</p><p>2、普京：俄罗斯国内的通货膨胀已得到控制</p><p>俄罗斯总统普京表示，俄罗斯国内的通货膨胀已得到控制，他责令俄罗斯政府应当帮助经济部门渡过目前的难关。普京还称，外汇市场稳定，卢布走强允许放松资本管制。</p><p>3、俄防长绍伊古：俄军已经控制顿涅茨克和卢甘斯克大部分地区</p><p>俄罗斯国防部长绍伊古表示，俄军已经控制了斯维亚托戈尔斯克在内的顿涅茨克和卢甘斯克大部分地区，目前已完全控制了北顿涅茨克的居民区。</p><p>4、乌外交部：任何不考虑乌利益的解除对乌港口封锁的协议都将被拒绝</p><p>乌克兰外交部发表声明称，目前乌克兰、土耳其和俄罗斯之间没有就解除对乌克兰港口“封锁”问题达成协议。乌克兰强调，必须在所有相关方的参与下做出决定，任何不考虑乌克兰利益的协议都将被拒绝。</p><p>公司新闻</p><p>1、<a href=\"https://laohu8.com/NW/1189630255\" target=\"_blank\">燃爆！比亚迪市值超越大众 跻身全球前三</a></p><p>6月7日，全球车企市值最新排行榜显示，比亚迪超过大众汽车集团，排位跃升至第三名，总市值达1272.3亿美元。同时，比亚迪也是前10榜单中唯一的中国车企。</p><p>2、<a href=\"https://laohu8.com/NW/2241889712\" target=\"_blank\">收购推特交易再生变数？马斯克发起的融资谈判据称已被暂时搁置</a></p><p>据媒体援引消息人士报道，鉴于交易中的不确定性，<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>CEO埃隆·马斯克为收购推特而进行的融资已被暂时搁置，直到收购交易的前景变得更加明朗。</p><p>3、<a href=\"https://laohu8.com/NW/2241027517\" target=\"_blank\">释放缓和情绪 墨西哥总统提及“尊重”赣锋锂业采矿许可</a></p><p>综合媒体报道，墨西哥总统安德列斯·曼努埃尔·洛佩斯·奥夫拉多尔(简称AMLO)对索诺拉锂矿的前景，给出了缓和气氛的评论。</p><p>周一在墨西哥国家宫举行的新闻发布会上，AMLO也被问及<a href=\"https://laohu8.com/S/01772\">赣锋锂业</a>墨西哥采矿权的问题，对此总统表示：“如果他们要求开采锂矿且(协议是)合理有序的，同时还会有一个勘探和生产项目，那么这些(权利)都会得到尊重。”</p><p>4、<a href=\"https://laohu8.com/NW/2241908004\" target=\"_blank\">IBM宣布退出俄罗斯市场，已暂停在俄所有业务</a></p><p>据今日俄罗斯报道，IBM当地时间6月7日宣布，由于俄乌冲突，公司将退出俄罗斯市场。公司首席执行官阿尔温德 克里希纳表示，已经暂停了在俄罗斯的所有业务。当天，公司的俄罗斯网站也显示，无法读取内容。报道称，3月初，IBM就宣布暂停在俄罗斯的商业活动，并终止了与俄军工企业的合作。</p><p>5、诺瓦瓦克斯：旗下新冠疫苗将由印度血清研究所生产</p><p>当地时间周二(6月7日)，诺瓦瓦克斯公司表示，如果获得授权，其新冠疫苗将由印度血清研究所(Serum Institute of India)生产。据《<a href=\"https://laohu8.com/S/NYT\">纽约时报</a>》报道，美国食品药品监督管理局(FDA)顾问周二建议批准诺瓦瓦克斯的新冠疫苗。</p><p>6、<a href=\"https://laohu8.com/NW/2241028097\" target=\"_blank\">亚马逊高管呼吁平台卖家反对美国反垄断立法，遭大多数卖家拒绝</a></p><p>美国国会很可能通过的科技行业反垄断改革正在引起亚马逊的担忧。该公司一名高管最近试图在互联网讨论版上游说第三方卖家，但遭到了大多数卖家的拒绝。许多卖家对亚马逊的立场提出异议，并表示他们打算支持新的立法。新立法将对美国的反垄断法进行彻底改革，限制大型科技公司的权利。</p><p>7、<a href=\"https://laohu8.com/S/603888\">新华网</a>与奥丁科技联合打造超写实<a href=\"https://laohu8.com/S/835670\">数字人</a>“筱竹”</p><p>近日，新华网首个超写实数字人——“筱竹”正式对外发布。 奥丁科技作为合作方，与新华网共同研发、制作了数字人“筱竹”。据介绍，新华网和奥丁科技达成原生数字人IP孵化合作，并启动数字人开发计划。未来新华网与奥丁将共建一系列以数字人为核心的原创IP。</p><p>8、<a href=\"https://laohu8.com/NW/1195127004\" target=\"_blank\">字节跳动考虑出售得物少数股份，估值超100亿美元</a></p><p>知情人士称，字节跳动公司正考虑出售潮鞋在线平台得物(Poizon)少数股权。字节跳动正在就出售较低个位数百分比股份展开谈判，更愿意出售给现有投资者。得物是上海识装信息科技有限公司推出的潮流网购社区，其估值超过100亿美元。得物网站显示，其月活跃用户超过1亿，<a href=\"https://laohu8.com/S/NKE\">耐克</a>、<a href=\"https://laohu8.com/S/0OLD.UK\">阿迪达斯</a>、任天堂是其品牌合作伙伴。</p><p>9、董明珠：格力今年不裁员，再招三五千大学生</p><p><a href=\"https://laohu8.com/S/000651\">格力电器</a>董事长兼总裁董明珠在年度股东大会上表示，格力坚持不裁员，而且今年还会再招3000到5000名大学毕业生。对于高翎入股，董明珠称绝对可以放心，投资者不需要有什么疑虑。董明珠同时表示，格力手机不比苹果差。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199236151","content_text":"摘要：①隔夜美股收高，三大指数均涨近1%；②美油收高0.77%，创三个月新高，布油涨0.89%，纽约黄金期货收高0.5%；③拜登宣布：美国进入能源紧急状态。④世行大幅下调今年经济增长预期至2.9%，警示滞涨风险上升。海外市场1、美股三大指数均涨近1% 能源股强劲：埃克森美孚、康菲石油涨超4%美股周二收高。美国国债收益率下降提振了市场情绪。市场仍在评估美国第二大零售商塔吉特发布的业绩预警。美国财长耶伦称，美国正面临“不可接受的通货膨胀水平”的挑战。截止收盘，纳指涨0.94%，道指涨0.8%，标普500指数涨0.95%。大型科技股普遍上涨，苹果涨1.76%，Meta涨0.72%，谷歌涨0.28%，微软涨1.40%，奈飞涨0.75%，亚马逊跌1.43%。能源股表现强劲，埃克森美孚、康菲石油涨超4%，斯伦贝谢涨超3%。2、热门中概股延续反弹势头拼多多涨超10%领跑热门中概股延续反弹势头，电商、在线教育、新能源车板块普涨。其中，拼多多涨超10%，阿里巴巴涨超5%；高途涨超16%，哔哩哔哩涨近10%，网易有道涨超9%；小鹏汽车涨超3%，蔚来、理想汽车涨超2%。3、欧股集体收跌德国DAX30指数跌0.67%欧股集体收跌，德国DAX30指数跌0.67%，英国富时100指数跌0.14%，法国CAC40指数跌0.74%，欧洲斯托克50指数跌0.87%。4、美国WTI原油周二收高0.77% 逼近120美元创三个月新高美国原油期货价格周二收高。市场仍在评估风险偏好与紧张的原油市场供应状况。最终，美油7月期货价格收涨0.77%，收于每桶119.41美元，刷新上周五所创的3月8日以来主力合约收盘高位。布伦特8月原油期货收涨0.89%，报120.57美元/桶，逼近上周二7月合约突破122美元所创的3月8日以来高位。5、纽约黄金期货周二收高0.5%纽约黄金期货价格周二收高。通胀担忧加剧了对贵金属的避险买盘，而且美国国债收益率下降则使金价获得进一步支撑。最终，纽约商品交易所8月交割的黄金期货收涨0.5%，报收于每盎司1852.10美元。国际宏观1、拜登宣布：美国进入能源紧急状态据环球网援引今日俄罗斯(RT)报道，美国总统拜登6日宣布美国进入能源紧急状态，称潜在的电力供应短缺已经危及到美国的国家安全和生活质量。RT称，拜登将出现这一危机的部分原因归咎于俄罗斯。报道称，拜登在紧急声明中说，“多种因素正在威胁美国提供足够电力，以满足预期的消费者需求的能力”，“这些因素包括俄罗斯‘入侵’乌克兰导致的能源市场中断，以及气候变化加剧的极端天气事件。”2、世行大幅下调今年经济增长预期至2.9% 警示滞涨风险上升当地时间周二(6月7日)，世界银行在其最新一期《全球经济展望》报告中大幅下调了今年全球增长预期，理由是俄乌冲突加剧了全球经济的放缓，许多国家面临经济衰退。3、耶伦为拜登经济政策辩护：高通胀遍布全球 皆因俄乌局势影响当地时间周二(6月7日)，美国财政部长耶伦在参议院财政委员会听证会上表示，美国通货膨胀居高不下，正处于“不可接受的水平”。耶伦说道：“尽管我非常希望通胀现在就下降，但我确实预计它还将保持在高位。”耶伦明日还将在众议院筹款委员会作证，讨论总统拜登的2023财年预算。她补充称，拜登总统预算要求中包含的美国4.7%的通货膨胀预测可能将被上调，“数字并没有被锁定，可能会更高。”这与她上周的一次演讲内容相呼应，当时她承认过去对“暂时性”通胀的看法是错误的。4、美联储预测模型显示美国经济或处于衰退边缘在周二发布的更新数据中，亚特兰大联储的GDPNow预测模型指向美国二季度的年化增长率仅为0.9%。GDPNow实时跟踪经济数据，并用其预测经济走向。该模型目前对二季度实际GDP增长(经季节性调整的年增长率)的预估为0.9%，低于6月1日的1.3%。连续两个季度GDP为负通常被认为是经济衰退。美国国家经济研究局表示，该经验法则通常是正确的，但并非总是如此。例如，2020年的经济衰退只出现了一个季度的负增长。5、美联储隔夜逆回购工具使用量激增至创纪录新高由于投资者仍在寻找安置短期现金的地方，美联储隔夜逆回购使用量再次达到历史高位。98位参与者进行了总计2.091万亿美元的逆回购操作，前高点是5月23日创下的2.045万亿美元。周二的数字比前一个交易日高出513亿美元。6、美国财政部扩大购买俄罗斯债券的禁令美国财政部颁布禁令，阻止美国投资者在二级市场购买俄罗斯债券，这是对现有政策的扩展。现有政策仅禁止购买新发行的俄罗斯政府债券和部分俄罗斯企业债券。7、黑田东彦重申维持宽松政策，美日续创20年新高日本央行行长黑田东彦表示，将以收益率曲线控制(YCC)为支柱，保持强有力的宽松政策。周二美元兑日元盘中一度站上133关口，续创20年新高.8、印尼调整棕榈油出口税以加速棕榈油出口印尼贸易部官员称，将毛棕榈油出口税(tax)的最大值提高至288美元/吨，将出口专项税(levy)的最大值降低至200美元/吨。此次调整旨在加速棕榈油出口。俄乌局势1、俄军：已控制大部分地区，摧毁2门美制榴弹炮据央视新闻消息，当地时间6月7日，俄罗斯国防部长绍伊古表示，俄军已经控制了斯维亚托戈尔斯克在内的顿涅茨克和卢甘斯克大部分地区，目前已完全控制了北顿涅茨克的居民区。此外，绍伊古称，自俄军2月24日在乌克兰发起特别军事行动以来，共有6489名乌军士兵投降。7日当天，俄罗斯国防部发言人科纳申科夫在新闻发布会上表示，俄军一天消灭乌军570多人，击落12架无人机，一天内摧毁挪威提供给乌克兰的一辆自行榴弹炮和美国提供的2门榴弹炮。2、普京：俄罗斯国内的通货膨胀已得到控制俄罗斯总统普京表示，俄罗斯国内的通货膨胀已得到控制，他责令俄罗斯政府应当帮助经济部门渡过目前的难关。普京还称，外汇市场稳定，卢布走强允许放松资本管制。3、俄防长绍伊古：俄军已经控制顿涅茨克和卢甘斯克大部分地区俄罗斯国防部长绍伊古表示，俄军已经控制了斯维亚托戈尔斯克在内的顿涅茨克和卢甘斯克大部分地区，目前已完全控制了北顿涅茨克的居民区。4、乌外交部：任何不考虑乌利益的解除对乌港口封锁的协议都将被拒绝乌克兰外交部发表声明称，目前乌克兰、土耳其和俄罗斯之间没有就解除对乌克兰港口“封锁”问题达成协议。乌克兰强调，必须在所有相关方的参与下做出决定，任何不考虑乌克兰利益的协议都将被拒绝。公司新闻1、燃爆！比亚迪市值超越大众 跻身全球前三6月7日，全球车企市值最新排行榜显示，比亚迪超过大众汽车集团，排位跃升至第三名，总市值达1272.3亿美元。同时，比亚迪也是前10榜单中唯一的中国车企。2、收购推特交易再生变数？马斯克发起的融资谈判据称已被暂时搁置据媒体援引消息人士报道，鉴于交易中的不确定性，特斯拉CEO埃隆·马斯克为收购推特而进行的融资已被暂时搁置，直到收购交易的前景变得更加明朗。3、释放缓和情绪 墨西哥总统提及“尊重”赣锋锂业采矿许可综合媒体报道，墨西哥总统安德列斯·曼努埃尔·洛佩斯·奥夫拉多尔(简称AMLO)对索诺拉锂矿的前景，给出了缓和气氛的评论。周一在墨西哥国家宫举行的新闻发布会上，AMLO也被问及赣锋锂业墨西哥采矿权的问题，对此总统表示：“如果他们要求开采锂矿且(协议是)合理有序的，同时还会有一个勘探和生产项目，那么这些(权利)都会得到尊重。”4、IBM宣布退出俄罗斯市场，已暂停在俄所有业务据今日俄罗斯报道，IBM当地时间6月7日宣布，由于俄乌冲突，公司将退出俄罗斯市场。公司首席执行官阿尔温德 克里希纳表示，已经暂停了在俄罗斯的所有业务。当天，公司的俄罗斯网站也显示，无法读取内容。报道称，3月初，IBM就宣布暂停在俄罗斯的商业活动，并终止了与俄军工企业的合作。5、诺瓦瓦克斯：旗下新冠疫苗将由印度血清研究所生产当地时间周二(6月7日)，诺瓦瓦克斯公司表示，如果获得授权，其新冠疫苗将由印度血清研究所(Serum Institute of India)生产。据《纽约时报》报道，美国食品药品监督管理局(FDA)顾问周二建议批准诺瓦瓦克斯的新冠疫苗。6、亚马逊高管呼吁平台卖家反对美国反垄断立法，遭大多数卖家拒绝美国国会很可能通过的科技行业反垄断改革正在引起亚马逊的担忧。该公司一名高管最近试图在互联网讨论版上游说第三方卖家，但遭到了大多数卖家的拒绝。许多卖家对亚马逊的立场提出异议，并表示他们打算支持新的立法。新立法将对美国的反垄断法进行彻底改革，限制大型科技公司的权利。7、新华网与奥丁科技联合打造超写实数字人“筱竹”近日，新华网首个超写实数字人——“筱竹”正式对外发布。 奥丁科技作为合作方，与新华网共同研发、制作了数字人“筱竹”。据介绍，新华网和奥丁科技达成原生数字人IP孵化合作，并启动数字人开发计划。未来新华网与奥丁将共建一系列以数字人为核心的原创IP。8、字节跳动考虑出售得物少数股份，估值超100亿美元知情人士称，字节跳动公司正考虑出售潮鞋在线平台得物(Poizon)少数股权。字节跳动正在就出售较低个位数百分比股份展开谈判，更愿意出售给现有投资者。得物是上海识装信息科技有限公司推出的潮流网购社区，其估值超过100亿美元。得物网站显示，其月活跃用户超过1亿，耐克、阿迪达斯、任天堂是其品牌合作伙伴。9、董明珠：格力今年不裁员，再招三五千大学生格力电器董事长兼总裁董明珠在年度股东大会上表示，格力坚持不裁员，而且今年还会再招3000到5000名大学毕业生。对于高翎入股，董明珠称绝对可以放心，投资者不需要有什么疑虑。董明珠同时表示，格力手机不比苹果差。","news_type":1},"isVote":1,"tweetType":1,"viewCount":690,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":617538883,"gmtCreate":1654500507347,"gmtModify":1704859523503,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/5DX.SI\">$METAL COMPONENT ENGG LTD(5DX.SI)$</a>&nbsp;so sad","listText":"<a 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Hhaha","listText":"Erm.. Hhaha","text":"Erm.. Hhaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/632993696","repostId":"2108576110","repostType":4,"repost":{"id":"2108576110","pubTimestamp":1646139606,"share":"https://www.laohu8.com/m/news/2108576110?lang=&edition=full","pubTime":"2022-03-01 21:00","market":"sh","language":"zh","title":"如何摆脱“小赚大亏”的怪圈？仓位管理是关键","url":"https://stock-news.laohu8.com/highlight/detail?id=2108576110","media":"金十数据","summary":"很多交易者进入市场总会经历“小赚大亏”的阶段，资金曲线在这个阶段的表现也是小涨急跌，更有甚者会是一路下跌，没有任何反弹的迹象。那这样一个让人沮丧的阶段该如何度过呢？怎么打破在“小赚大亏”中资金被消磨殆","content":"<html><head></head><body><blockquote>很多交易者进入市场总会经历“小赚大亏”的阶段，资金曲线在这个阶段的表现也是小涨急跌，更有甚者会是一路下跌，没有任何反弹的迹象。那这样一个让人沮丧的阶段该如何度过呢？怎么打破在“小赚大亏”中资金被消磨殆尽的怪象？也许从仓位管理的角度可以给你一些启示。</blockquote><p>仓位管理通常也会被笼统的称之为“资金管理”，虽然这样的代指并不严谨，但在交易圈内很多时候是可以通用的。那什么才是仓位管理呢？顾名思义就是管理你手中的头寸。你的账户资金可以支撑的最大头寸数就是你的满仓状态，你实际持有的头寸数和满仓数的比例就是所谓的仓位占比。在百度百科里对于此的定义是：风险市场中，通过限制单次投入资金的比例来控制风险。</p><p>通过上面的表述，大家对“仓位管理”应该有一个较为准确的认知了，下面我们就从<b>仓位管理的必要性、仓位如何管理、仓位管理中的心态问题</b>三个方面来阐述应该如何从这一层面解决“小赚大亏”的问题。</p><p>一、仓位管理的重要性与必要性</p><p>研究仓位管理的前提一定是交易手法具有一致性，固定的使用一种或几种组合的形式参与市场，否则仓位管理就会失去其意义，这一点是需要说在前面的。其中的道理很简单，就像你在打扑克一样，每次弃牌和加注的标准应该一致，不然谁能说得准你会不会在赢得时候只加了很小的注，而在输的时候却下的是重注。</p><p>没有人可以准确的预测到市场在未来某个时刻会是怎样的一种状态，表现为怎么的一个价格。即使有人在短期内做到了，那也肯定是蒙的，在市场中搏杀不要相信任何一个号称自己可以预测行情的人。如此一来，市场的不确定性就显而易见的摆在我们面前，既然市场永远无法预测，那你还有理由把全部的资金用于头寸持有吗？</p><p>此时，你可能会说，不重仓持有怎么能博取足够的利润？有一点你需要注意，风险和利润是并存的，你放大了追逐利润的可能，与此同时也解开了束缚风险的绳索。尤其在新手阶段，没有办法保证胜率的情况下不加节制的投入资金无疑是爆仓最快的途径之一。</p><p>仓位管理是一个关于风险的防范措施，并不是你追逐利润的手段，这正像文章开头引用百度百科的那句话。很多成功的前辈也经常会告诉我们，只有在相当确定的情况下才能重仓，即使这样也是建立在提前做好止损准备的前提下。毕竟生存下来才是在市场中获利的重要支撑。</p><p>由此可以看出仓位管理在市场博弈中是必不可少的。在无法很好的解读市场信号，建立完善的交易系统之前投入较小的仓位尝试是永远不会错的。它虽然暂时无法让你摆脱“小赚”，但配合止损的仓位管理起码可以帮你截住“大亏”，这在交易的整个过程里都是一种标志性的胜利：你的资金终于不再大把的流出。</p><p>二、仓位如何管理？</p><p>前边说的这些如果是所谓的“世界观”，那这一部分我们来探讨一下仓位管理的“方法论”。首先有一点需要大家明白：仓位控制并不能解决胜率低的问题，它只是让交易者死的慢点，以便有足够的时间和机会去获取属于自己的那一波行情。由此可见，仓位管理不能单独来讨论，而是应该结合每个人交易的时间周期、心理承受能力和进出场依据。</p><p>比如趋势交易者通常胜率不会太高，但盈亏比却是相当的大。这就要求在进行趋势交易时要严格的控制仓位来降低试单成本，一旦试单成功出现盈利就要不断加仓来提升自己的盈亏比以弥补胜率低的弊端。而短线交易者是依靠高胜率配合低盈亏比来实现盈利的，所以他需要提高自己的资金利用率来保证盈利的尽量最大化，当然短线交易者的止损都是非常严格的，这就在另一个层面降低了重仓所带来的风险。</p><p>仓位管理的目的是斩断亏损，让利润奔跑，为了实现这一目的需要遵循一些原则：</p><p>1、永远都不要把你的全部资金投入市场。尤其在新手阶段或者长期处于“小赚大亏”的状态中时，把全部资金投入市场不仅会让亏损放大，也会在一定程度上影响交易者的心态。当然，短线交易者在止损坚决并且盈亏比合理的情况下可以尝试重仓出击，但务必保证同一标准的进场是开立相同的仓位，不然很有可能出现<a href=\"https://laohu8.com/S/06838\">盈利时</a>轻仓，亏损时重仓的尴尬局面。</p><p>2、在交易中出现偶然性的连续亏损是正常的，仓位管理必须保证在连续亏损后，剩余资金还可以开立相同手数的头寸。如果这一原则无法遵循，那就很有可能出现原本可以开100手单，连续几次亏损后就只能开立90手单了，90手的单量想要将资金打回原来的水平会比100手单更加艰难。</p><p>3、要有科学的加减仓策略。交易虽然在数学的角度来看是一个概率的游戏，但它绝不是一个静态的模型。时刻变化着的市场在我们一次入场后很可能会出现让我们加仓或者减仓的行情走势，这个时候你的胜率和盈亏比也在发生着变化，这就需要你的仓位管理包括加减仓的内容在其中。</p><p>那具体仓位管理有没有精确到数字上的通用法则呢？比如一定按照百分之多少的比例开仓，怎样的情况下按照几成的比例加仓或者减仓？很可惜，没有！在这一部分的开始就已经说过了，仓位管理是要结合个人的进出仓依据、心理承受能力来设计的，这里只能为你提供一种思路，大家需要根据自己的相关数据来进行完成仓位的管理策略。</p><p>那设定属于自己的仓位管理策略需要依据哪些数据或者参考项呢？我在这里做了如下统计，供诸位参考：</p><p>1、自己的风险偏好。你要确定你是激进型的还是保守型的，你每次可以接受的亏损是多少，这些亏损对应你交易系统中的止损点数又是多少，可以接受的亏损额比上止损点数就是你一个点可以承受的亏损数额，这些数额比上单手每点波动价格就是你单次入场开仓的手数了。</p><p>2、交易手法的胜率。你的仓位管理一定要结合交易手法所能提供的胜率来确定，这样才能保证正常比例的盈亏次数下你的资金可以挺过亏损的部分。</p><p>3、交易的风险报酬比，也就是所谓的盈亏比。胜率和盈亏比是一对双生子，这个在之前很多文章里我都有提到过。在胜率和盈亏比的配合下，你的仓位管理一定要是能抗得过交易中“最坏的时期”，不然你还没有走到自己交易系统中的黎明就已经惨死在黎明前的黑夜里了。</p><p>总之，仓位管理不是独立静态的部分，它是整个交易系统的组成部分。上面我们只讨论了仓位管理以及与之相关的各方面因素，但并不是说交易系统就仅仅如此。交易系统中的进出仓策略和仓位管理相辅相成，二者缺一不可。</p><p>三、仓位管理中的心态问题</p><p>前面两个部分分别告诉了大家仓位管理的“世界观”和“方法论”，接下来就是意识层面的问题了。在上面两个部分的问题没有解决好之前心态方面也必定是不能很好应对的。如果你的仓位管理已经从上述部分中有所启发，或是已经解决了之前的问题，那心态的问题就相对容易一些了。</p><p>在仓位管理中经常出现的心态无非就两种：赚钱时，要是我当初能满仓干就好了；亏钱时，要是我当初能轻仓试一试就好了。当然，也会有诸如要不要加仓？加仓赌一把吧！或者要不要减仓？算了，还是赶紧减仓跑路吧等心理状态，不过后者是前者的衍生品了。</p><p>在进行仓位管理时，最好的状态是自己完全按照已经设计好的管理模式去执行，没有任何的主观因素。这一点说起来容易，但实际做起来并没有那么简单，那该怎么办呢？</p><p>没有什么捷径，就是把仓位的管理策略和与之相匹配的交易系统中其他部分做的尽量详细，不给自己任何主观遐想的空间。</p><p>注意，这不是让你把交易系统做的错综复杂，而是告诉大家把尽量简单的交易系统做的尽量固定和仔细。比如某一项操作依据是一个区间性的，那就把这个区间变成确定的数值，亦或是尽量压缩区间的范围来寻找系统中的确定性，只有这样才能用规则把自己的心牢牢锁住。</p><p>不过，规则还是要靠纪律来完成执行的，所以，一定要遵守已经制定好的纪律，哪怕使用自我的奖惩机制。</p><p>关于仓位管理说到这里也即将结束了，希望大家从中可以收获一些关于仓位管理的思路，这对于大家的交易之路必将是有所裨益的。最后希望大家交易顺利，涨跌通吃。</p></body></html>","source":"xnew_highlight","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n如何摆脱“小赚大亏”的怪圈？仓位管理是关键\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-01 21:00 北京时间&nbsp;&nbsp;&nbsp;<a href=https://xnews.jin10.com/webapp/details.html?id=70226&type=news><strong>金十数据</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>很多交易者进入市场总会经历“小赚大亏”的阶段，资金曲线在这个阶段的表现也是小涨急跌，更有甚者会是一路下跌，没有任何反弹的迹象。那这样一个让人沮丧的阶段该如何度过呢？怎么打破在“小赚大亏”中资金被消磨殆尽的怪象？也许从仓位管理的角度可以给你一些启示。仓位管理通常也会被笼统的称之为“资金管理”，虽然这样的代指并不严谨，但在交易圈内很多时候是可以通用的。那什么才是仓位管理呢？顾名思义就是管理你手中的头寸...</p>\n\n<a href=\"https://xnews.jin10.com/webapp/details.html?id=70226&type=news\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b72c7a49848a200043090f96ed32f108","relate_stocks":{},"source_url":"https://xnews.jin10.com/webapp/details.html?id=70226&type=news","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2108576110","content_text":"很多交易者进入市场总会经历“小赚大亏”的阶段，资金曲线在这个阶段的表现也是小涨急跌，更有甚者会是一路下跌，没有任何反弹的迹象。那这样一个让人沮丧的阶段该如何度过呢？怎么打破在“小赚大亏”中资金被消磨殆尽的怪象？也许从仓位管理的角度可以给你一些启示。仓位管理通常也会被笼统的称之为“资金管理”，虽然这样的代指并不严谨，但在交易圈内很多时候是可以通用的。那什么才是仓位管理呢？顾名思义就是管理你手中的头寸。你的账户资金可以支撑的最大头寸数就是你的满仓状态，你实际持有的头寸数和满仓数的比例就是所谓的仓位占比。在百度百科里对于此的定义是：风险市场中，通过限制单次投入资金的比例来控制风险。通过上面的表述，大家对“仓位管理”应该有一个较为准确的认知了，下面我们就从仓位管理的必要性、仓位如何管理、仓位管理中的心态问题三个方面来阐述应该如何从这一层面解决“小赚大亏”的问题。一、仓位管理的重要性与必要性研究仓位管理的前提一定是交易手法具有一致性，固定的使用一种或几种组合的形式参与市场，否则仓位管理就会失去其意义，这一点是需要说在前面的。其中的道理很简单，就像你在打扑克一样，每次弃牌和加注的标准应该一致，不然谁能说得准你会不会在赢得时候只加了很小的注，而在输的时候却下的是重注。没有人可以准确的预测到市场在未来某个时刻会是怎样的一种状态，表现为怎么的一个价格。即使有人在短期内做到了，那也肯定是蒙的，在市场中搏杀不要相信任何一个号称自己可以预测行情的人。如此一来，市场的不确定性就显而易见的摆在我们面前，既然市场永远无法预测，那你还有理由把全部的资金用于头寸持有吗？此时，你可能会说，不重仓持有怎么能博取足够的利润？有一点你需要注意，风险和利润是并存的，你放大了追逐利润的可能，与此同时也解开了束缚风险的绳索。尤其在新手阶段，没有办法保证胜率的情况下不加节制的投入资金无疑是爆仓最快的途径之一。仓位管理是一个关于风险的防范措施，并不是你追逐利润的手段，这正像文章开头引用百度百科的那句话。很多成功的前辈也经常会告诉我们，只有在相当确定的情况下才能重仓，即使这样也是建立在提前做好止损准备的前提下。毕竟生存下来才是在市场中获利的重要支撑。由此可以看出仓位管理在市场博弈中是必不可少的。在无法很好的解读市场信号，建立完善的交易系统之前投入较小的仓位尝试是永远不会错的。它虽然暂时无法让你摆脱“小赚”，但配合止损的仓位管理起码可以帮你截住“大亏”，这在交易的整个过程里都是一种标志性的胜利：你的资金终于不再大把的流出。二、仓位如何管理？前边说的这些如果是所谓的“世界观”，那这一部分我们来探讨一下仓位管理的“方法论”。首先有一点需要大家明白：仓位控制并不能解决胜率低的问题，它只是让交易者死的慢点，以便有足够的时间和机会去获取属于自己的那一波行情。由此可见，仓位管理不能单独来讨论，而是应该结合每个人交易的时间周期、心理承受能力和进出场依据。比如趋势交易者通常胜率不会太高，但盈亏比却是相当的大。这就要求在进行趋势交易时要严格的控制仓位来降低试单成本，一旦试单成功出现盈利就要不断加仓来提升自己的盈亏比以弥补胜率低的弊端。而短线交易者是依靠高胜率配合低盈亏比来实现盈利的，所以他需要提高自己的资金利用率来保证盈利的尽量最大化，当然短线交易者的止损都是非常严格的，这就在另一个层面降低了重仓所带来的风险。仓位管理的目的是斩断亏损，让利润奔跑，为了实现这一目的需要遵循一些原则：1、永远都不要把你的全部资金投入市场。尤其在新手阶段或者长期处于“小赚大亏”的状态中时，把全部资金投入市场不仅会让亏损放大，也会在一定程度上影响交易者的心态。当然，短线交易者在止损坚决并且盈亏比合理的情况下可以尝试重仓出击，但务必保证同一标准的进场是开立相同的仓位，不然很有可能出现盈利时轻仓，亏损时重仓的尴尬局面。2、在交易中出现偶然性的连续亏损是正常的，仓位管理必须保证在连续亏损后，剩余资金还可以开立相同手数的头寸。如果这一原则无法遵循，那就很有可能出现原本可以开100手单，连续几次亏损后就只能开立90手单了，90手的单量想要将资金打回原来的水平会比100手单更加艰难。3、要有科学的加减仓策略。交易虽然在数学的角度来看是一个概率的游戏，但它绝不是一个静态的模型。时刻变化着的市场在我们一次入场后很可能会出现让我们加仓或者减仓的行情走势，这个时候你的胜率和盈亏比也在发生着变化，这就需要你的仓位管理包括加减仓的内容在其中。那具体仓位管理有没有精确到数字上的通用法则呢？比如一定按照百分之多少的比例开仓，怎样的情况下按照几成的比例加仓或者减仓？很可惜，没有！在这一部分的开始就已经说过了，仓位管理是要结合个人的进出仓依据、心理承受能力来设计的，这里只能为你提供一种思路，大家需要根据自己的相关数据来进行完成仓位的管理策略。那设定属于自己的仓位管理策略需要依据哪些数据或者参考项呢？我在这里做了如下统计，供诸位参考：1、自己的风险偏好。你要确定你是激进型的还是保守型的，你每次可以接受的亏损是多少，这些亏损对应你交易系统中的止损点数又是多少，可以接受的亏损额比上止损点数就是你一个点可以承受的亏损数额，这些数额比上单手每点波动价格就是你单次入场开仓的手数了。2、交易手法的胜率。你的仓位管理一定要结合交易手法所能提供的胜率来确定，这样才能保证正常比例的盈亏次数下你的资金可以挺过亏损的部分。3、交易的风险报酬比，也就是所谓的盈亏比。胜率和盈亏比是一对双生子，这个在之前很多文章里我都有提到过。在胜率和盈亏比的配合下，你的仓位管理一定要是能抗得过交易中“最坏的时期”，不然你还没有走到自己交易系统中的黎明就已经惨死在黎明前的黑夜里了。总之，仓位管理不是独立静态的部分，它是整个交易系统的组成部分。上面我们只讨论了仓位管理以及与之相关的各方面因素，但并不是说交易系统就仅仅如此。交易系统中的进出仓策略和仓位管理相辅相成，二者缺一不可。三、仓位管理中的心态问题前面两个部分分别告诉了大家仓位管理的“世界观”和“方法论”，接下来就是意识层面的问题了。在上面两个部分的问题没有解决好之前心态方面也必定是不能很好应对的。如果你的仓位管理已经从上述部分中有所启发，或是已经解决了之前的问题，那心态的问题就相对容易一些了。在仓位管理中经常出现的心态无非就两种：赚钱时，要是我当初能满仓干就好了；亏钱时，要是我当初能轻仓试一试就好了。当然，也会有诸如要不要加仓？加仓赌一把吧！或者要不要减仓？算了，还是赶紧减仓跑路吧等心理状态，不过后者是前者的衍生品了。在进行仓位管理时，最好的状态是自己完全按照已经设计好的管理模式去执行，没有任何的主观因素。这一点说起来容易，但实际做起来并没有那么简单，那该怎么办呢？没有什么捷径，就是把仓位的管理策略和与之相匹配的交易系统中其他部分做的尽量详细，不给自己任何主观遐想的空间。注意，这不是让你把交易系统做的错综复杂，而是告诉大家把尽量简单的交易系统做的尽量固定和仔细。比如某一项操作依据是一个区间性的，那就把这个区间变成确定的数值，亦或是尽量压缩区间的范围来寻找系统中的确定性，只有这样才能用规则把自己的心牢牢锁住。不过，规则还是要靠纪律来完成执行的，所以，一定要遵守已经制定好的纪律，哪怕使用自我的奖惩机制。关于仓位管理说到这里也即将结束了，希望大家从中可以收获一些关于仓位管理的思路，这对于大家的交易之路必将是有所裨益的。最后希望大家交易顺利，涨跌通吃。","news_type":1},"isVote":1,"tweetType":1,"viewCount":226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638254103,"gmtCreate":1645404916542,"gmtModify":1645404916869,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a 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LIMITED(G13.SI)$[shy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638254103","isVote":1,"tweetType":1,"viewCount":121,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638254362,"gmtCreate":1645404882159,"gmtModify":1645404882476,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Erm","listText":"Erm","text":"Erm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638254362","repostId":"1145113098","repostType":4,"repost":{"id":"1145113098","pubTimestamp":1645265827,"share":"https://www.laohu8.com/m/news/1145113098?lang=&edition=full","pubTime":"2022-02-19 18:17","market":"us","language":"zh","title":"谁在交易通胀？","url":"https://stock-news.laohu8.com/highlight/detail?id=1145113098","media":"远川投资评论","summary":"“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不","content":"<html><head></head><body><p>“不好意思，我们要提价1元了。”</p><p>在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“<b>五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨</b>，希望17块的幽兰拿铁不会影响你点奶茶的心情。”</p><p>茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及<a href=\"https://laohu8.com/S/603711\">香飘飘</a>等消费品中蔓延开来，这也意味着原油、铝、锡、<a href=\"https://laohu8.com/S/000061\">农产品</a>等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，100块的贺岁档电影票也没那么不合理了。</p><p>所有的涨价，都把矛头指向了最近二级市场讨论火爆的通胀预期。</p><p>而这也是全人类共同面临的问题—<b>美国1月通胀率升至7.5%，创下了40年来的新高</b>。这也引得，高盛集团预测美联储2022年将加息七次。</p><p>加息的鬼故事夜来风雨声，加上俄乌冲突的助燃，引得全球市场股票大跌，国内创业板指数年初跌幅高达17%，此前风靡的赛道投资在风声鹤唳中似乎到了最危险的境地。</p><p><img src=\"https://static.tigerbbs.com/a6f2ea8f645f2fdf8a633414eef2a11a\" tg-width=\"1080\" tg-height=\"788\" referrerpolicy=\"no-referrer\"/></p><p>美国通胀达到1982年水平</p><p>正所谓通胀之下无牛市。</p><p>在疫情的滔天大水下，面对成本端价格高企，各国央行有着“收水”的预期，股市信心脆弱。而全球成长股刚经历了一轮结构性的大牛市，通胀也绷紧了各国投资者的神经。</p><p>在这个关键时点，不少海外明星基金经理发表了对通胀的看法，之中的预判也一定程度影响了他们的持仓，有的“意见领袖”甚至能影响后续的市场，观点交锋尤为精彩。</p><p>笔者精选了几位“新晋巴菲特”的分享，希望对大家的宏观研判有所帮助。</p><p><b>01、“英国巴菲特”：商品通胀不等于零售价格通胀</b></p><p>“英国巴菲特”特里·史密斯（Terry Smith），不同于“女巴菲特”木头姐与老巴风格大相径庭，管理260亿美元Fundsmith的他是一个实打实的价值投资者，具有著名的三步投资策略“<b>购买好公司-不支付过高的价格-什么都不做</b>”。</p><p>不过最近他并不走运，因持仓股Paypal与Meta财报不及预期，Smith今年年初基金跌幅逾10%。</p><p><img src=\"https://static.tigerbbs.com/b973733af4ebf53e97189af0e24b3274\" tg-width=\"634\" tg-height=\"374\" referrerpolicy=\"no-referrer\"/></p><p>Terry Smith业绩表现</p><p>Smith对通胀的观点如下：</p><p>通货膨胀的存在毋庸置疑，11月，德国的批发价格同比增长16.6%，西班牙PPI高达33.1%，而这些数据只是冰山一角。</p><p>不难看出通胀的潜在原因：在次贷危机后，央行通过量化宽松扩大资产负债表，随后又出台了巨额财政和货币刺激措施，以应对疫情的影响。鉴于货币供应的增长速度远远超过了商品和服务生产的增长速度，这些商品和服务的价格肯定会被抬高，<b>事实上，通胀也必然随之而来。</b></p><p>然而，<b>这忽略了方程式中另一个重要因素——货币流通速度</b>。人们更倾向于存钱还是花钱？储蓄率在信贷危机后，疫情期间再次跃升，或许是人们谨慎消费，亦或是消费机会减少。目前旅游板块回到了危机前的水平，所以<b>我们已经具备了让通胀飙升的所有因素。</b></p><p>在这一点上，人们很可能会感到困惑，特别是考虑到“当局”在信贷危机十年中，大部分时间都在产生通胀，以抵消信用危机的影响。但是要小心控制进度，这像点篝火，如果你浇上汽油，从本来没有火苗到发出一声“嗖”的巨响，你会发现把花园的栅栏也点着了。当通货膨胀发生时，它可能会超出你的想象。</p><p><img src=\"https://static.tigerbbs.com/41f18106669a53ee74eb50349d5251cb\" tg-width=\"865\" tg-height=\"545\" referrerpolicy=\"no-referrer\"/></p><p>Terry Smith认为商品的通胀不一定等于零售价格通胀，<b>商品价格与CPI没有明显相关性，</b>原因在于消费者不直接购买大宗商品。西班牙PPI上涨33%，其中能源价格上涨88%，金属上涨48%，纸制品上涨16%，而食品仅上涨8.3%。</p><p>因此，投入成本通胀最初影响的是企业利润，而不是消费品价格。<b>一个公司毛利率越高，就越能免受通胀影响</b>。就股票而言，估值越高受通胀影响就越大，这就是为什么亏损的科技股最近表现的如此疲软的原因，可能还有别的——例如越来越多的人意识到自己投资的是商业模式，而不是公司。</p><p>然而，我买的公司毛利率超过60%，从基本面看他们更有能力抵御通胀。</p><p><b>02、“女巴菲特”：通胀证伪，持仓处于深度价值领域</b></p><p>通胀预期的头号受害者，刚经历了腰斩的木头姐凯西·伍德（Cathie Wood），在方舟投资的年度报告中对通胀做了<b>意念否定</b>，以下为木头姐的观点摘要：</p><p>市场从成长股转向价值和防御性股票。<b>这种轮换的主要原因是担心通胀，不是与供应链瓶颈相关的短期问题，而是对新冠及其过度货币和财政政策反应的结果</b>。通胀往往有利于价值股，特别是能源、金融服务、工业和材料领域。</p><p>与此同时，通过提高贴现率和降低未来现金流现值，更高的利率往往会损害成长型股票。2021年11月，美联储主席鲍威尔提出，通胀可能不是“暂时”的。在今年的衰退中，创新型企业的税收流失，也给了投资者更多规避这些公司的理由。</p><p>但是，供应链瓶颈已经持续了比我们预期更长的时间，尤其密歇根大学消费者信心指数已经下降到新冠危机最低点时的程度。随着2020年春季刺激支出将储蓄率膨胀至33%,消费品支出飙升，压倒了将要倒闭的企业。新冠之前，企业处于避险模式，不仅是因为中美贸易紧张，也是因为2019年夏末收益率曲线的反转。</p><p>随着企业在2020年初关闭，一些消费者转而使用政府补贴来“囤积”商品，提高居民家庭的“库存”水平。在一些供应链问题加剧的情况下，消费者在年初开始购物，并担心货架会空空如也，这导致在去年11月将CPI推高到6.8%。与此同时，美国消费者储蓄率降至8%以下，这是新冠前的水平，为未来的消费留下更少的空间，</p><p>因此，在未来3-6个月，<b>随着供应链瓶颈的消除，消费增长可能大幅放缓，这可能会给企业带来过剩的库存</b>。如果我们是正确的，市场未来可能会更多关注美国经济衰退的风险、新兴市场经济体减速，<b>以及潜在的令人惊讶的通胀下降。</b></p><p>一些大宗商品价格已经开始暴跌：铁矿石价格下跌了36%，而波罗的海干散货运价指数下跌了39%，DRAM价格下跌了27%，美国木材价格下跌了35%。就连石油价格，也下跌了15%（注：2个月前数据）。</p><p>通常，在经济放缓时，新技术的应用普及会加快，因为相关企业和消费品更愿意改变行为，他们现在看到的许多技术领先者似乎都已经处于深度价值领域。</p><p><b>03、“小巴菲特”：押注通胀就是押注人们的聪明才智</b></p><p>《安全边际》的作者，被称为“小巴菲特”的塞斯·卡拉曼(Seth Klarman)，管理着波士顿300亿美元规模的Baupost集团，最近发表了对通胀的看法：</p><p>商品价格在2021年飙升，原因是美国的商品价格通胀。2019年前的十年里，平均增长率为1.8%，而这一年急剧加速，石油一度上涨到每桶80美元以上，一些市场石油价格一度达到每加仑5美元。运输成本也飙升，11月CPI上涨6.8%，创造39年新高。</p><p>这个数字可能低估了美国人所经历的通胀，因为记录这个数字的方法片面，尤其是在房屋拥有成本方面。欧盟的通胀率达到了4.9%，为24年来最高水平。</p><p>起初似乎认为当前一连串价格上涨是暂时的，但后续美联储停止了这种说法，加快缩减债券购买的速度，并暗示2022年加息三次，短期利率走高。显然，美联储已经从一心关注就业转向对抗通胀，这是当今市场未预见的。</p><p>至于未来的通胀，争论双方都有很好的论据。</p><p>一方观点是，导致持续通缩的全球化正在倒退，工资水平正在下降，美联储可能会被迫保持低利率，这将持续刺激消费需求，同时鼓舞着市场投机。</p><p>另一方观点是，前所未有的经济刺激已经结束，世界最大经济体高债务和老龄化是通缩力量，近几个月表现最好的商品从高点回落。我们处于这个经济周期的后期，经济低迷有助于消除通胀的力量，<b>而且源源不断的技术进步可能会产生通缩影响。</b></p><p>用市场策略师大卫·罗森伯格的话说：“<b>押注通胀就是押注人类的聪明才智。</b>”</p><p>就核心而言，通货膨胀既是一种心理现象，也是一种货币现象。通胀上升预期会导致人们和企业改变他们的决策。例如，他们可能会囤积库存以预期价格进一步上涨，这可能会反过来更快推动上涨。</p><p>事实上，通胀预期已经在急剧上升。供给方在疫情中伤痕累累，而财政过度刺激确保需求强劲和增长。</p><p><b>我们不知道当前通胀有多糟，但我们认为不断上升的通胀和大幅提高利率可能对市场构成真正的危险。所以，我们购买了这种环境下可以获利的对冲。</b></p><p><b>04、“下一个巴菲特”：通胀不会像彗星一样摧毁地球</b></p><p>由于2008年之前创造了12年年化25%的收益，大卫·霍恩（DavidEinhorn）被称为“下一个巴菲特”。但后来做空<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>亏损严重，以至于被马斯克寄一箱短裤（注：英文short有做空和短裤双重释义）。</p><p>去年四季度，霍恩的绿光资本（Greenlight Capital）开始交易通胀，积累了1000美元的特斯拉看跌期权，并且重仓了地产及周期公司，收获18.6%的收益。</p><p><img src=\"https://static.tigerbbs.com/226f55b98f49bf5c9ae9052c768c2f37\" tg-width=\"1080\" tg-height=\"648\" referrerpolicy=\"no-referrer\"/></p><p>大卫·霍恩收到马斯克寄来的短裤</p><p>本轮交易的成功也源自于他四季度的预判：鲍威尔是否认为只要注意到通胀就会消失？</p><p>当然，整个游戏都是为了支持市场，这也是大多数投资者所期望的。<b>当派对变得疯狂时，美联储不会拿走酒杯。相反，当一方要抢夺时，他只会带着更大的冲击力回来。</b>这就是为什么现在许多人担心美联储可能会因收紧正在减速的通胀而犯下严重的政策错误。一些人认为，<b>即使是单次收紧也是错误的。</b></p><p>我们认为，通胀问题是如此根深蒂固，以至于美联储要想成功应对它，就必须牺牲金融市场的首要地位。我们不知道美联储是否会通过始终落后于曲线来容忍通胀，或者让经济状况收紧到放缓的地步，也许更重要的是，美联储会被指责为经济放缓的罪魁祸首。</p><p>事实上，经济和劳动力市场是过热的，商品市场变得越来越紧俏。尽管政界人士对 80 美元的石油和 6 美元的玉米表示担忧，但这两种关键原材料可能会大幅上涨。仅仅停止印钞并逐步提高利率以保持股市支撑，似乎不太可能将通胀率回落到 2% 以下。</p><p><b>而且劳动力短缺的驱动因素之一是年轻投机者的账面浮盈，他们宁愿“在家交易”也不愿找工作，让他们重新审视这种想法可能需要一个严重的熊市。</b></p><p>这一切都让我们想起了Netflix电影《不要抬头》，当真正解决问题时，我们的领导人并不认真。</p><p><b>通货膨胀不会像彗星一样摧毁地球</b>。然而，由于央行宽松的货币政策与全球 ESG 举措相结合时，世界上的穷人面临冻死和挨饿的风险。在一些地方，这正在造成动荡。</p><p>最终，我们相信通胀终将衰退，无论美联储选择做什么，必需品价格的上涨最终会导致低收入消费者减少购买其他东西，有迹象表明这已经在发生。</p><p><b>05、“Baby巴菲特”：美联储失去了通胀斗士的信誉</b></p><p>在疫情期间以2700万美元赢得26亿美元的比尔·阿克曼（Bill Ackman）被人们封为“战神”，在此之前福布斯封面将他称为 “Baby Buffett”。他的潘兴广场资本（Pershing Square Capital Management）经历了大起大落，从规模最高的200亿美元缩水到70亿美元，如今这匹华尔街之狼收复了规模。</p><p><img src=\"https://static.tigerbbs.com/0662176b531c196c9c4cf19b4dd0b7a0\" tg-width=\"688\" tg-height=\"899\" referrerpolicy=\"no-referrer\"/></p><p>阿克曼登上福布斯封面故事：Baby Buffett</p><p>在去年，阿克曼做空较短期限的美国国债及部分十年期债券，这1.7亿美元的期权赌注，后来价值约10亿美元[1]。</p><p>阿克曼利用疫情和通胀彻底翻身，最近也在推特发表了对于通胀的看法：</p><p>虽然传统观念认为美联储今年会加息3-4次缓解通胀，市场预计加息25个基点。但美联储失去了作为通胀斗士的公信力，正在逐步输掉通胀战争，给脆弱的人带来痛苦的打击，因此3-4次加息是否足够？</p><p><b>我认为美联储可以通过加息50个基点的意外举措来恢复其信誉，甚至震慑市场，以表决心。</b>加息50个基点的初始举措将产生降低通胀的反身性，这将缓解未来更加激进或者令经济承担更痛苦措施的需求。</p><p>戏剧的是在鬼故事把美股吓崩之后，阿克曼顺势抄底了310万股Netflix的股票。</p></body></html>","source":"lsy1583835599575","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>谁在交易通胀？</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n谁在交易通胀？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-19 18:17 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ><strong>远川投资评论</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不会影响你点奶茶的心情。”茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及香飘飘等消费品中蔓延开来，这也意味着原油、铝、锡、农产品等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145113098","content_text":"“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不会影响你点奶茶的心情。”茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及香飘飘等消费品中蔓延开来，这也意味着原油、铝、锡、农产品等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，100块的贺岁档电影票也没那么不合理了。所有的涨价，都把矛头指向了最近二级市场讨论火爆的通胀预期。而这也是全人类共同面临的问题—美国1月通胀率升至7.5%，创下了40年来的新高。这也引得，高盛集团预测美联储2022年将加息七次。加息的鬼故事夜来风雨声，加上俄乌冲突的助燃，引得全球市场股票大跌，国内创业板指数年初跌幅高达17%，此前风靡的赛道投资在风声鹤唳中似乎到了最危险的境地。美国通胀达到1982年水平正所谓通胀之下无牛市。在疫情的滔天大水下，面对成本端价格高企，各国央行有着“收水”的预期，股市信心脆弱。而全球成长股刚经历了一轮结构性的大牛市，通胀也绷紧了各国投资者的神经。在这个关键时点，不少海外明星基金经理发表了对通胀的看法，之中的预判也一定程度影响了他们的持仓，有的“意见领袖”甚至能影响后续的市场，观点交锋尤为精彩。笔者精选了几位“新晋巴菲特”的分享，希望对大家的宏观研判有所帮助。01、“英国巴菲特”：商品通胀不等于零售价格通胀“英国巴菲特”特里·史密斯（Terry Smith），不同于“女巴菲特”木头姐与老巴风格大相径庭，管理260亿美元Fundsmith的他是一个实打实的价值投资者，具有著名的三步投资策略“购买好公司-不支付过高的价格-什么都不做”。不过最近他并不走运，因持仓股Paypal与Meta财报不及预期，Smith今年年初基金跌幅逾10%。Terry Smith业绩表现Smith对通胀的观点如下：通货膨胀的存在毋庸置疑，11月，德国的批发价格同比增长16.6%，西班牙PPI高达33.1%，而这些数据只是冰山一角。不难看出通胀的潜在原因：在次贷危机后，央行通过量化宽松扩大资产负债表，随后又出台了巨额财政和货币刺激措施，以应对疫情的影响。鉴于货币供应的增长速度远远超过了商品和服务生产的增长速度，这些商品和服务的价格肯定会被抬高，事实上，通胀也必然随之而来。然而，这忽略了方程式中另一个重要因素——货币流通速度。人们更倾向于存钱还是花钱？储蓄率在信贷危机后，疫情期间再次跃升，或许是人们谨慎消费，亦或是消费机会减少。目前旅游板块回到了危机前的水平，所以我们已经具备了让通胀飙升的所有因素。在这一点上，人们很可能会感到困惑，特别是考虑到“当局”在信贷危机十年中，大部分时间都在产生通胀，以抵消信用危机的影响。但是要小心控制进度，这像点篝火，如果你浇上汽油，从本来没有火苗到发出一声“嗖”的巨响，你会发现把花园的栅栏也点着了。当通货膨胀发生时，它可能会超出你的想象。Terry Smith认为商品的通胀不一定等于零售价格通胀，商品价格与CPI没有明显相关性，原因在于消费者不直接购买大宗商品。西班牙PPI上涨33%，其中能源价格上涨88%，金属上涨48%，纸制品上涨16%，而食品仅上涨8.3%。因此，投入成本通胀最初影响的是企业利润，而不是消费品价格。一个公司毛利率越高，就越能免受通胀影响。就股票而言，估值越高受通胀影响就越大，这就是为什么亏损的科技股最近表现的如此疲软的原因，可能还有别的——例如越来越多的人意识到自己投资的是商业模式，而不是公司。然而，我买的公司毛利率超过60%，从基本面看他们更有能力抵御通胀。02、“女巴菲特”：通胀证伪，持仓处于深度价值领域通胀预期的头号受害者，刚经历了腰斩的木头姐凯西·伍德（Cathie Wood），在方舟投资的年度报告中对通胀做了意念否定，以下为木头姐的观点摘要：市场从成长股转向价值和防御性股票。这种轮换的主要原因是担心通胀，不是与供应链瓶颈相关的短期问题，而是对新冠及其过度货币和财政政策反应的结果。通胀往往有利于价值股，特别是能源、金融服务、工业和材料领域。与此同时，通过提高贴现率和降低未来现金流现值，更高的利率往往会损害成长型股票。2021年11月，美联储主席鲍威尔提出，通胀可能不是“暂时”的。在今年的衰退中，创新型企业的税收流失，也给了投资者更多规避这些公司的理由。但是，供应链瓶颈已经持续了比我们预期更长的时间，尤其密歇根大学消费者信心指数已经下降到新冠危机最低点时的程度。随着2020年春季刺激支出将储蓄率膨胀至33%,消费品支出飙升，压倒了将要倒闭的企业。新冠之前，企业处于避险模式，不仅是因为中美贸易紧张，也是因为2019年夏末收益率曲线的反转。随着企业在2020年初关闭，一些消费者转而使用政府补贴来“囤积”商品，提高居民家庭的“库存”水平。在一些供应链问题加剧的情况下，消费者在年初开始购物，并担心货架会空空如也，这导致在去年11月将CPI推高到6.8%。与此同时，美国消费者储蓄率降至8%以下，这是新冠前的水平，为未来的消费留下更少的空间，因此，在未来3-6个月，随着供应链瓶颈的消除，消费增长可能大幅放缓，这可能会给企业带来过剩的库存。如果我们是正确的，市场未来可能会更多关注美国经济衰退的风险、新兴市场经济体减速，以及潜在的令人惊讶的通胀下降。一些大宗商品价格已经开始暴跌：铁矿石价格下跌了36%，而波罗的海干散货运价指数下跌了39%，DRAM价格下跌了27%，美国木材价格下跌了35%。就连石油价格，也下跌了15%（注：2个月前数据）。通常，在经济放缓时，新技术的应用普及会加快，因为相关企业和消费品更愿意改变行为，他们现在看到的许多技术领先者似乎都已经处于深度价值领域。03、“小巴菲特”：押注通胀就是押注人们的聪明才智《安全边际》的作者，被称为“小巴菲特”的塞斯·卡拉曼(Seth Klarman)，管理着波士顿300亿美元规模的Baupost集团，最近发表了对通胀的看法：商品价格在2021年飙升，原因是美国的商品价格通胀。2019年前的十年里，平均增长率为1.8%，而这一年急剧加速，石油一度上涨到每桶80美元以上，一些市场石油价格一度达到每加仑5美元。运输成本也飙升，11月CPI上涨6.8%，创造39年新高。这个数字可能低估了美国人所经历的通胀，因为记录这个数字的方法片面，尤其是在房屋拥有成本方面。欧盟的通胀率达到了4.9%，为24年来最高水平。起初似乎认为当前一连串价格上涨是暂时的，但后续美联储停止了这种说法，加快缩减债券购买的速度，并暗示2022年加息三次，短期利率走高。显然，美联储已经从一心关注就业转向对抗通胀，这是当今市场未预见的。至于未来的通胀，争论双方都有很好的论据。一方观点是，导致持续通缩的全球化正在倒退，工资水平正在下降，美联储可能会被迫保持低利率，这将持续刺激消费需求，同时鼓舞着市场投机。另一方观点是，前所未有的经济刺激已经结束，世界最大经济体高债务和老龄化是通缩力量，近几个月表现最好的商品从高点回落。我们处于这个经济周期的后期，经济低迷有助于消除通胀的力量，而且源源不断的技术进步可能会产生通缩影响。用市场策略师大卫·罗森伯格的话说：“押注通胀就是押注人类的聪明才智。”就核心而言，通货膨胀既是一种心理现象，也是一种货币现象。通胀上升预期会导致人们和企业改变他们的决策。例如，他们可能会囤积库存以预期价格进一步上涨，这可能会反过来更快推动上涨。事实上，通胀预期已经在急剧上升。供给方在疫情中伤痕累累，而财政过度刺激确保需求强劲和增长。我们不知道当前通胀有多糟，但我们认为不断上升的通胀和大幅提高利率可能对市场构成真正的危险。所以，我们购买了这种环境下可以获利的对冲。04、“下一个巴菲特”：通胀不会像彗星一样摧毁地球由于2008年之前创造了12年年化25%的收益，大卫·霍恩（DavidEinhorn）被称为“下一个巴菲特”。但后来做空特斯拉亏损严重，以至于被马斯克寄一箱短裤（注：英文short有做空和短裤双重释义）。去年四季度，霍恩的绿光资本（Greenlight Capital）开始交易通胀，积累了1000美元的特斯拉看跌期权，并且重仓了地产及周期公司，收获18.6%的收益。大卫·霍恩收到马斯克寄来的短裤本轮交易的成功也源自于他四季度的预判：鲍威尔是否认为只要注意到通胀就会消失？当然，整个游戏都是为了支持市场，这也是大多数投资者所期望的。当派对变得疯狂时，美联储不会拿走酒杯。相反，当一方要抢夺时，他只会带着更大的冲击力回来。这就是为什么现在许多人担心美联储可能会因收紧正在减速的通胀而犯下严重的政策错误。一些人认为，即使是单次收紧也是错误的。我们认为，通胀问题是如此根深蒂固，以至于美联储要想成功应对它，就必须牺牲金融市场的首要地位。我们不知道美联储是否会通过始终落后于曲线来容忍通胀，或者让经济状况收紧到放缓的地步，也许更重要的是，美联储会被指责为经济放缓的罪魁祸首。事实上，经济和劳动力市场是过热的，商品市场变得越来越紧俏。尽管政界人士对 80 美元的石油和 6 美元的玉米表示担忧，但这两种关键原材料可能会大幅上涨。仅仅停止印钞并逐步提高利率以保持股市支撑，似乎不太可能将通胀率回落到 2% 以下。而且劳动力短缺的驱动因素之一是年轻投机者的账面浮盈，他们宁愿“在家交易”也不愿找工作，让他们重新审视这种想法可能需要一个严重的熊市。这一切都让我们想起了Netflix电影《不要抬头》，当真正解决问题时，我们的领导人并不认真。通货膨胀不会像彗星一样摧毁地球。然而，由于央行宽松的货币政策与全球 ESG 举措相结合时，世界上的穷人面临冻死和挨饿的风险。在一些地方，这正在造成动荡。最终，我们相信通胀终将衰退，无论美联储选择做什么，必需品价格的上涨最终会导致低收入消费者减少购买其他东西，有迹象表明这已经在发生。05、“Baby巴菲特”：美联储失去了通胀斗士的信誉在疫情期间以2700万美元赢得26亿美元的比尔·阿克曼（Bill Ackman）被人们封为“战神”，在此之前福布斯封面将他称为 “Baby Buffett”。他的潘兴广场资本（Pershing Square Capital Management）经历了大起大落，从规模最高的200亿美元缩水到70亿美元，如今这匹华尔街之狼收复了规模。阿克曼登上福布斯封面故事：Baby Buffett在去年，阿克曼做空较短期限的美国国债及部分十年期债券，这1.7亿美元的期权赌注，后来价值约10亿美元[1]。阿克曼利用疫情和通胀彻底翻身，最近也在推特发表了对于通胀的看法：虽然传统观念认为美联储今年会加息3-4次缓解通胀，市场预计加息25个基点。但美联储失去了作为通胀斗士的公信力，正在逐步输掉通胀战争，给脆弱的人带来痛苦的打击，因此3-4次加息是否足够？我认为美联储可以通过加息50个基点的意外举措来恢复其信誉，甚至震慑市场，以表决心。加息50个基点的初始举措将产生降低通胀的反身性，这将缓解未来更加激进或者令经济承担更痛苦措施的需求。戏剧的是在鬼故事把美股吓崩之后，阿克曼顺势抄底了310万股Netflix的股票。","news_type":1},"isVote":1,"tweetType":1,"viewCount":199,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638255708,"gmtCreate":1645404840712,"gmtModify":1645404841035,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[Happy]&nbsp;","listText":"[Happy]&nbsp;","text":"[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638255708","repostId":"1145113098","repostType":4,"repost":{"id":"1145113098","pubTimestamp":1645265827,"share":"https://www.laohu8.com/m/news/1145113098?lang=&edition=full","pubTime":"2022-02-19 18:17","market":"us","language":"zh","title":"谁在交易通胀？","url":"https://stock-news.laohu8.com/highlight/detail?id=1145113098","media":"远川投资评论","summary":"“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不","content":"<html><head></head><body><p>“不好意思，我们要提价1元了。”</p><p>在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“<b>五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨</b>，希望17块的幽兰拿铁不会影响你点奶茶的心情。”</p><p>茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及<a href=\"https://laohu8.com/S/603711\">香飘飘</a>等消费品中蔓延开来，这也意味着原油、铝、锡、<a href=\"https://laohu8.com/S/000061\">农产品</a>等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，100块的贺岁档电影票也没那么不合理了。</p><p>所有的涨价，都把矛头指向了最近二级市场讨论火爆的通胀预期。</p><p>而这也是全人类共同面临的问题—<b>美国1月通胀率升至7.5%，创下了40年来的新高</b>。这也引得，高盛集团预测美联储2022年将加息七次。</p><p>加息的鬼故事夜来风雨声，加上俄乌冲突的助燃，引得全球市场股票大跌，国内创业板指数年初跌幅高达17%，此前风靡的赛道投资在风声鹤唳中似乎到了最危险的境地。</p><p><img src=\"https://static.tigerbbs.com/a6f2ea8f645f2fdf8a633414eef2a11a\" tg-width=\"1080\" tg-height=\"788\" referrerpolicy=\"no-referrer\"/></p><p>美国通胀达到1982年水平</p><p>正所谓通胀之下无牛市。</p><p>在疫情的滔天大水下，面对成本端价格高企，各国央行有着“收水”的预期，股市信心脆弱。而全球成长股刚经历了一轮结构性的大牛市，通胀也绷紧了各国投资者的神经。</p><p>在这个关键时点，不少海外明星基金经理发表了对通胀的看法，之中的预判也一定程度影响了他们的持仓，有的“意见领袖”甚至能影响后续的市场，观点交锋尤为精彩。</p><p>笔者精选了几位“新晋巴菲特”的分享，希望对大家的宏观研判有所帮助。</p><p><b>01、“英国巴菲特”：商品通胀不等于零售价格通胀</b></p><p>“英国巴菲特”特里·史密斯（Terry Smith），不同于“女巴菲特”木头姐与老巴风格大相径庭，管理260亿美元Fundsmith的他是一个实打实的价值投资者，具有著名的三步投资策略“<b>购买好公司-不支付过高的价格-什么都不做</b>”。</p><p>不过最近他并不走运，因持仓股Paypal与Meta财报不及预期，Smith今年年初基金跌幅逾10%。</p><p><img src=\"https://static.tigerbbs.com/b973733af4ebf53e97189af0e24b3274\" tg-width=\"634\" tg-height=\"374\" referrerpolicy=\"no-referrer\"/></p><p>Terry Smith业绩表现</p><p>Smith对通胀的观点如下：</p><p>通货膨胀的存在毋庸置疑，11月，德国的批发价格同比增长16.6%，西班牙PPI高达33.1%，而这些数据只是冰山一角。</p><p>不难看出通胀的潜在原因：在次贷危机后，央行通过量化宽松扩大资产负债表，随后又出台了巨额财政和货币刺激措施，以应对疫情的影响。鉴于货币供应的增长速度远远超过了商品和服务生产的增长速度，这些商品和服务的价格肯定会被抬高，<b>事实上，通胀也必然随之而来。</b></p><p>然而，<b>这忽略了方程式中另一个重要因素——货币流通速度</b>。人们更倾向于存钱还是花钱？储蓄率在信贷危机后，疫情期间再次跃升，或许是人们谨慎消费，亦或是消费机会减少。目前旅游板块回到了危机前的水平，所以<b>我们已经具备了让通胀飙升的所有因素。</b></p><p>在这一点上，人们很可能会感到困惑，特别是考虑到“当局”在信贷危机十年中，大部分时间都在产生通胀，以抵消信用危机的影响。但是要小心控制进度，这像点篝火，如果你浇上汽油，从本来没有火苗到发出一声“嗖”的巨响，你会发现把花园的栅栏也点着了。当通货膨胀发生时，它可能会超出你的想象。</p><p><img src=\"https://static.tigerbbs.com/41f18106669a53ee74eb50349d5251cb\" tg-width=\"865\" tg-height=\"545\" referrerpolicy=\"no-referrer\"/></p><p>Terry Smith认为商品的通胀不一定等于零售价格通胀，<b>商品价格与CPI没有明显相关性，</b>原因在于消费者不直接购买大宗商品。西班牙PPI上涨33%，其中能源价格上涨88%，金属上涨48%，纸制品上涨16%，而食品仅上涨8.3%。</p><p>因此，投入成本通胀最初影响的是企业利润，而不是消费品价格。<b>一个公司毛利率越高，就越能免受通胀影响</b>。就股票而言，估值越高受通胀影响就越大，这就是为什么亏损的科技股最近表现的如此疲软的原因，可能还有别的——例如越来越多的人意识到自己投资的是商业模式，而不是公司。</p><p>然而，我买的公司毛利率超过60%，从基本面看他们更有能力抵御通胀。</p><p><b>02、“女巴菲特”：通胀证伪，持仓处于深度价值领域</b></p><p>通胀预期的头号受害者，刚经历了腰斩的木头姐凯西·伍德（Cathie Wood），在方舟投资的年度报告中对通胀做了<b>意念否定</b>，以下为木头姐的观点摘要：</p><p>市场从成长股转向价值和防御性股票。<b>这种轮换的主要原因是担心通胀，不是与供应链瓶颈相关的短期问题，而是对新冠及其过度货币和财政政策反应的结果</b>。通胀往往有利于价值股，特别是能源、金融服务、工业和材料领域。</p><p>与此同时，通过提高贴现率和降低未来现金流现值，更高的利率往往会损害成长型股票。2021年11月，美联储主席鲍威尔提出，通胀可能不是“暂时”的。在今年的衰退中，创新型企业的税收流失，也给了投资者更多规避这些公司的理由。</p><p>但是，供应链瓶颈已经持续了比我们预期更长的时间，尤其密歇根大学消费者信心指数已经下降到新冠危机最低点时的程度。随着2020年春季刺激支出将储蓄率膨胀至33%,消费品支出飙升，压倒了将要倒闭的企业。新冠之前，企业处于避险模式，不仅是因为中美贸易紧张，也是因为2019年夏末收益率曲线的反转。</p><p>随着企业在2020年初关闭，一些消费者转而使用政府补贴来“囤积”商品，提高居民家庭的“库存”水平。在一些供应链问题加剧的情况下，消费者在年初开始购物，并担心货架会空空如也，这导致在去年11月将CPI推高到6.8%。与此同时，美国消费者储蓄率降至8%以下，这是新冠前的水平，为未来的消费留下更少的空间，</p><p>因此，在未来3-6个月，<b>随着供应链瓶颈的消除，消费增长可能大幅放缓，这可能会给企业带来过剩的库存</b>。如果我们是正确的，市场未来可能会更多关注美国经济衰退的风险、新兴市场经济体减速，<b>以及潜在的令人惊讶的通胀下降。</b></p><p>一些大宗商品价格已经开始暴跌：铁矿石价格下跌了36%，而波罗的海干散货运价指数下跌了39%，DRAM价格下跌了27%，美国木材价格下跌了35%。就连石油价格，也下跌了15%（注：2个月前数据）。</p><p>通常，在经济放缓时，新技术的应用普及会加快，因为相关企业和消费品更愿意改变行为，他们现在看到的许多技术领先者似乎都已经处于深度价值领域。</p><p><b>03、“小巴菲特”：押注通胀就是押注人们的聪明才智</b></p><p>《安全边际》的作者，被称为“小巴菲特”的塞斯·卡拉曼(Seth Klarman)，管理着波士顿300亿美元规模的Baupost集团，最近发表了对通胀的看法：</p><p>商品价格在2021年飙升，原因是美国的商品价格通胀。2019年前的十年里，平均增长率为1.8%，而这一年急剧加速，石油一度上涨到每桶80美元以上，一些市场石油价格一度达到每加仑5美元。运输成本也飙升，11月CPI上涨6.8%，创造39年新高。</p><p>这个数字可能低估了美国人所经历的通胀，因为记录这个数字的方法片面，尤其是在房屋拥有成本方面。欧盟的通胀率达到了4.9%，为24年来最高水平。</p><p>起初似乎认为当前一连串价格上涨是暂时的，但后续美联储停止了这种说法，加快缩减债券购买的速度，并暗示2022年加息三次，短期利率走高。显然，美联储已经从一心关注就业转向对抗通胀，这是当今市场未预见的。</p><p>至于未来的通胀，争论双方都有很好的论据。</p><p>一方观点是，导致持续通缩的全球化正在倒退，工资水平正在下降，美联储可能会被迫保持低利率，这将持续刺激消费需求，同时鼓舞着市场投机。</p><p>另一方观点是，前所未有的经济刺激已经结束，世界最大经济体高债务和老龄化是通缩力量，近几个月表现最好的商品从高点回落。我们处于这个经济周期的后期，经济低迷有助于消除通胀的力量，<b>而且源源不断的技术进步可能会产生通缩影响。</b></p><p>用市场策略师大卫·罗森伯格的话说：“<b>押注通胀就是押注人类的聪明才智。</b>”</p><p>就核心而言，通货膨胀既是一种心理现象，也是一种货币现象。通胀上升预期会导致人们和企业改变他们的决策。例如，他们可能会囤积库存以预期价格进一步上涨，这可能会反过来更快推动上涨。</p><p>事实上，通胀预期已经在急剧上升。供给方在疫情中伤痕累累，而财政过度刺激确保需求强劲和增长。</p><p><b>我们不知道当前通胀有多糟，但我们认为不断上升的通胀和大幅提高利率可能对市场构成真正的危险。所以，我们购买了这种环境下可以获利的对冲。</b></p><p><b>04、“下一个巴菲特”：通胀不会像彗星一样摧毁地球</b></p><p>由于2008年之前创造了12年年化25%的收益，大卫·霍恩（DavidEinhorn）被称为“下一个巴菲特”。但后来做空<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>亏损严重，以至于被马斯克寄一箱短裤（注：英文short有做空和短裤双重释义）。</p><p>去年四季度，霍恩的绿光资本（Greenlight Capital）开始交易通胀，积累了1000美元的特斯拉看跌期权，并且重仓了地产及周期公司，收获18.6%的收益。</p><p><img src=\"https://static.tigerbbs.com/226f55b98f49bf5c9ae9052c768c2f37\" tg-width=\"1080\" tg-height=\"648\" referrerpolicy=\"no-referrer\"/></p><p>大卫·霍恩收到马斯克寄来的短裤</p><p>本轮交易的成功也源自于他四季度的预判：鲍威尔是否认为只要注意到通胀就会消失？</p><p>当然，整个游戏都是为了支持市场，这也是大多数投资者所期望的。<b>当派对变得疯狂时，美联储不会拿走酒杯。相反，当一方要抢夺时，他只会带着更大的冲击力回来。</b>这就是为什么现在许多人担心美联储可能会因收紧正在减速的通胀而犯下严重的政策错误。一些人认为，<b>即使是单次收紧也是错误的。</b></p><p>我们认为，通胀问题是如此根深蒂固，以至于美联储要想成功应对它，就必须牺牲金融市场的首要地位。我们不知道美联储是否会通过始终落后于曲线来容忍通胀，或者让经济状况收紧到放缓的地步，也许更重要的是，美联储会被指责为经济放缓的罪魁祸首。</p><p>事实上，经济和劳动力市场是过热的，商品市场变得越来越紧俏。尽管政界人士对 80 美元的石油和 6 美元的玉米表示担忧，但这两种关键原材料可能会大幅上涨。仅仅停止印钞并逐步提高利率以保持股市支撑，似乎不太可能将通胀率回落到 2% 以下。</p><p><b>而且劳动力短缺的驱动因素之一是年轻投机者的账面浮盈，他们宁愿“在家交易”也不愿找工作，让他们重新审视这种想法可能需要一个严重的熊市。</b></p><p>这一切都让我们想起了Netflix电影《不要抬头》，当真正解决问题时，我们的领导人并不认真。</p><p><b>通货膨胀不会像彗星一样摧毁地球</b>。然而，由于央行宽松的货币政策与全球 ESG 举措相结合时，世界上的穷人面临冻死和挨饿的风险。在一些地方，这正在造成动荡。</p><p>最终，我们相信通胀终将衰退，无论美联储选择做什么，必需品价格的上涨最终会导致低收入消费者减少购买其他东西，有迹象表明这已经在发生。</p><p><b>05、“Baby巴菲特”：美联储失去了通胀斗士的信誉</b></p><p>在疫情期间以2700万美元赢得26亿美元的比尔·阿克曼（Bill Ackman）被人们封为“战神”，在此之前福布斯封面将他称为 “Baby Buffett”。他的潘兴广场资本（Pershing Square Capital Management）经历了大起大落，从规模最高的200亿美元缩水到70亿美元，如今这匹华尔街之狼收复了规模。</p><p><img src=\"https://static.tigerbbs.com/0662176b531c196c9c4cf19b4dd0b7a0\" tg-width=\"688\" tg-height=\"899\" referrerpolicy=\"no-referrer\"/></p><p>阿克曼登上福布斯封面故事：Baby Buffett</p><p>在去年，阿克曼做空较短期限的美国国债及部分十年期债券，这1.7亿美元的期权赌注，后来价值约10亿美元[1]。</p><p>阿克曼利用疫情和通胀彻底翻身，最近也在推特发表了对于通胀的看法：</p><p>虽然传统观念认为美联储今年会加息3-4次缓解通胀，市场预计加息25个基点。但美联储失去了作为通胀斗士的公信力，正在逐步输掉通胀战争，给脆弱的人带来痛苦的打击，因此3-4次加息是否足够？</p><p><b>我认为美联储可以通过加息50个基点的意外举措来恢复其信誉，甚至震慑市场，以表决心。</b>加息50个基点的初始举措将产生降低通胀的反身性，这将缓解未来更加激进或者令经济承担更痛苦措施的需求。</p><p>戏剧的是在鬼故事把美股吓崩之后，阿克曼顺势抄底了310万股Netflix的股票。</p></body></html>","source":"lsy1583835599575","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>谁在交易通胀？</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n谁在交易通胀？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-19 18:17 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ><strong>远川投资评论</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不会影响你点奶茶的心情。”茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及香飘飘等消费品中蔓延开来，这也意味着原油、铝、锡、农产品等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145113098","content_text":"“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不会影响你点奶茶的心情。”茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及香飘飘等消费品中蔓延开来，这也意味着原油、铝、锡、农产品等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，100块的贺岁档电影票也没那么不合理了。所有的涨价，都把矛头指向了最近二级市场讨论火爆的通胀预期。而这也是全人类共同面临的问题—美国1月通胀率升至7.5%，创下了40年来的新高。这也引得，高盛集团预测美联储2022年将加息七次。加息的鬼故事夜来风雨声，加上俄乌冲突的助燃，引得全球市场股票大跌，国内创业板指数年初跌幅高达17%，此前风靡的赛道投资在风声鹤唳中似乎到了最危险的境地。美国通胀达到1982年水平正所谓通胀之下无牛市。在疫情的滔天大水下，面对成本端价格高企，各国央行有着“收水”的预期，股市信心脆弱。而全球成长股刚经历了一轮结构性的大牛市，通胀也绷紧了各国投资者的神经。在这个关键时点，不少海外明星基金经理发表了对通胀的看法，之中的预判也一定程度影响了他们的持仓，有的“意见领袖”甚至能影响后续的市场，观点交锋尤为精彩。笔者精选了几位“新晋巴菲特”的分享，希望对大家的宏观研判有所帮助。01、“英国巴菲特”：商品通胀不等于零售价格通胀“英国巴菲特”特里·史密斯（Terry Smith），不同于“女巴菲特”木头姐与老巴风格大相径庭，管理260亿美元Fundsmith的他是一个实打实的价值投资者，具有著名的三步投资策略“购买好公司-不支付过高的价格-什么都不做”。不过最近他并不走运，因持仓股Paypal与Meta财报不及预期，Smith今年年初基金跌幅逾10%。Terry Smith业绩表现Smith对通胀的观点如下：通货膨胀的存在毋庸置疑，11月，德国的批发价格同比增长16.6%，西班牙PPI高达33.1%，而这些数据只是冰山一角。不难看出通胀的潜在原因：在次贷危机后，央行通过量化宽松扩大资产负债表，随后又出台了巨额财政和货币刺激措施，以应对疫情的影响。鉴于货币供应的增长速度远远超过了商品和服务生产的增长速度，这些商品和服务的价格肯定会被抬高，事实上，通胀也必然随之而来。然而，这忽略了方程式中另一个重要因素——货币流通速度。人们更倾向于存钱还是花钱？储蓄率在信贷危机后，疫情期间再次跃升，或许是人们谨慎消费，亦或是消费机会减少。目前旅游板块回到了危机前的水平，所以我们已经具备了让通胀飙升的所有因素。在这一点上，人们很可能会感到困惑，特别是考虑到“当局”在信贷危机十年中，大部分时间都在产生通胀，以抵消信用危机的影响。但是要小心控制进度，这像点篝火，如果你浇上汽油，从本来没有火苗到发出一声“嗖”的巨响，你会发现把花园的栅栏也点着了。当通货膨胀发生时，它可能会超出你的想象。Terry Smith认为商品的通胀不一定等于零售价格通胀，商品价格与CPI没有明显相关性，原因在于消费者不直接购买大宗商品。西班牙PPI上涨33%，其中能源价格上涨88%，金属上涨48%，纸制品上涨16%，而食品仅上涨8.3%。因此，投入成本通胀最初影响的是企业利润，而不是消费品价格。一个公司毛利率越高，就越能免受通胀影响。就股票而言，估值越高受通胀影响就越大，这就是为什么亏损的科技股最近表现的如此疲软的原因，可能还有别的——例如越来越多的人意识到自己投资的是商业模式，而不是公司。然而，我买的公司毛利率超过60%，从基本面看他们更有能力抵御通胀。02、“女巴菲特”：通胀证伪，持仓处于深度价值领域通胀预期的头号受害者，刚经历了腰斩的木头姐凯西·伍德（Cathie Wood），在方舟投资的年度报告中对通胀做了意念否定，以下为木头姐的观点摘要：市场从成长股转向价值和防御性股票。这种轮换的主要原因是担心通胀，不是与供应链瓶颈相关的短期问题，而是对新冠及其过度货币和财政政策反应的结果。通胀往往有利于价值股，特别是能源、金融服务、工业和材料领域。与此同时，通过提高贴现率和降低未来现金流现值，更高的利率往往会损害成长型股票。2021年11月，美联储主席鲍威尔提出，通胀可能不是“暂时”的。在今年的衰退中，创新型企业的税收流失，也给了投资者更多规避这些公司的理由。但是，供应链瓶颈已经持续了比我们预期更长的时间，尤其密歇根大学消费者信心指数已经下降到新冠危机最低点时的程度。随着2020年春季刺激支出将储蓄率膨胀至33%,消费品支出飙升，压倒了将要倒闭的企业。新冠之前，企业处于避险模式，不仅是因为中美贸易紧张，也是因为2019年夏末收益率曲线的反转。随着企业在2020年初关闭，一些消费者转而使用政府补贴来“囤积”商品，提高居民家庭的“库存”水平。在一些供应链问题加剧的情况下，消费者在年初开始购物，并担心货架会空空如也，这导致在去年11月将CPI推高到6.8%。与此同时，美国消费者储蓄率降至8%以下，这是新冠前的水平，为未来的消费留下更少的空间，因此，在未来3-6个月，随着供应链瓶颈的消除，消费增长可能大幅放缓，这可能会给企业带来过剩的库存。如果我们是正确的，市场未来可能会更多关注美国经济衰退的风险、新兴市场经济体减速，以及潜在的令人惊讶的通胀下降。一些大宗商品价格已经开始暴跌：铁矿石价格下跌了36%，而波罗的海干散货运价指数下跌了39%，DRAM价格下跌了27%，美国木材价格下跌了35%。就连石油价格，也下跌了15%（注：2个月前数据）。通常，在经济放缓时，新技术的应用普及会加快，因为相关企业和消费品更愿意改变行为，他们现在看到的许多技术领先者似乎都已经处于深度价值领域。03、“小巴菲特”：押注通胀就是押注人们的聪明才智《安全边际》的作者，被称为“小巴菲特”的塞斯·卡拉曼(Seth Klarman)，管理着波士顿300亿美元规模的Baupost集团，最近发表了对通胀的看法：商品价格在2021年飙升，原因是美国的商品价格通胀。2019年前的十年里，平均增长率为1.8%，而这一年急剧加速，石油一度上涨到每桶80美元以上，一些市场石油价格一度达到每加仑5美元。运输成本也飙升，11月CPI上涨6.8%，创造39年新高。这个数字可能低估了美国人所经历的通胀，因为记录这个数字的方法片面，尤其是在房屋拥有成本方面。欧盟的通胀率达到了4.9%，为24年来最高水平。起初似乎认为当前一连串价格上涨是暂时的，但后续美联储停止了这种说法，加快缩减债券购买的速度，并暗示2022年加息三次，短期利率走高。显然，美联储已经从一心关注就业转向对抗通胀，这是当今市场未预见的。至于未来的通胀，争论双方都有很好的论据。一方观点是，导致持续通缩的全球化正在倒退，工资水平正在下降，美联储可能会被迫保持低利率，这将持续刺激消费需求，同时鼓舞着市场投机。另一方观点是，前所未有的经济刺激已经结束，世界最大经济体高债务和老龄化是通缩力量，近几个月表现最好的商品从高点回落。我们处于这个经济周期的后期，经济低迷有助于消除通胀的力量，而且源源不断的技术进步可能会产生通缩影响。用市场策略师大卫·罗森伯格的话说：“押注通胀就是押注人类的聪明才智。”就核心而言，通货膨胀既是一种心理现象，也是一种货币现象。通胀上升预期会导致人们和企业改变他们的决策。例如，他们可能会囤积库存以预期价格进一步上涨，这可能会反过来更快推动上涨。事实上，通胀预期已经在急剧上升。供给方在疫情中伤痕累累，而财政过度刺激确保需求强劲和增长。我们不知道当前通胀有多糟，但我们认为不断上升的通胀和大幅提高利率可能对市场构成真正的危险。所以，我们购买了这种环境下可以获利的对冲。04、“下一个巴菲特”：通胀不会像彗星一样摧毁地球由于2008年之前创造了12年年化25%的收益，大卫·霍恩（DavidEinhorn）被称为“下一个巴菲特”。但后来做空特斯拉亏损严重，以至于被马斯克寄一箱短裤（注：英文short有做空和短裤双重释义）。去年四季度，霍恩的绿光资本（Greenlight Capital）开始交易通胀，积累了1000美元的特斯拉看跌期权，并且重仓了地产及周期公司，收获18.6%的收益。大卫·霍恩收到马斯克寄来的短裤本轮交易的成功也源自于他四季度的预判：鲍威尔是否认为只要注意到通胀就会消失？当然，整个游戏都是为了支持市场，这也是大多数投资者所期望的。当派对变得疯狂时，美联储不会拿走酒杯。相反，当一方要抢夺时，他只会带着更大的冲击力回来。这就是为什么现在许多人担心美联储可能会因收紧正在减速的通胀而犯下严重的政策错误。一些人认为，即使是单次收紧也是错误的。我们认为，通胀问题是如此根深蒂固，以至于美联储要想成功应对它，就必须牺牲金融市场的首要地位。我们不知道美联储是否会通过始终落后于曲线来容忍通胀，或者让经济状况收紧到放缓的地步，也许更重要的是，美联储会被指责为经济放缓的罪魁祸首。事实上，经济和劳动力市场是过热的，商品市场变得越来越紧俏。尽管政界人士对 80 美元的石油和 6 美元的玉米表示担忧，但这两种关键原材料可能会大幅上涨。仅仅停止印钞并逐步提高利率以保持股市支撑，似乎不太可能将通胀率回落到 2% 以下。而且劳动力短缺的驱动因素之一是年轻投机者的账面浮盈，他们宁愿“在家交易”也不愿找工作，让他们重新审视这种想法可能需要一个严重的熊市。这一切都让我们想起了Netflix电影《不要抬头》，当真正解决问题时，我们的领导人并不认真。通货膨胀不会像彗星一样摧毁地球。然而，由于央行宽松的货币政策与全球 ESG 举措相结合时，世界上的穷人面临冻死和挨饿的风险。在一些地方，这正在造成动荡。最终，我们相信通胀终将衰退，无论美联储选择做什么，必需品价格的上涨最终会导致低收入消费者减少购买其他东西，有迹象表明这已经在发生。05、“Baby巴菲特”：美联储失去了通胀斗士的信誉在疫情期间以2700万美元赢得26亿美元的比尔·阿克曼（Bill Ackman）被人们封为“战神”，在此之前福布斯封面将他称为 “Baby Buffett”。他的潘兴广场资本（Pershing Square Capital Management）经历了大起大落，从规模最高的200亿美元缩水到70亿美元，如今这匹华尔街之狼收复了规模。阿克曼登上福布斯封面故事：Baby Buffett在去年，阿克曼做空较短期限的美国国债及部分十年期债券，这1.7亿美元的期权赌注，后来价值约10亿美元[1]。阿克曼利用疫情和通胀彻底翻身，最近也在推特发表了对于通胀的看法：虽然传统观念认为美联储今年会加息3-4次缓解通胀，市场预计加息25个基点。但美联储失去了作为通胀斗士的公信力，正在逐步输掉通胀战争，给脆弱的人带来痛苦的打击，因此3-4次加息是否足够？我认为美联储可以通过加息50个基点的意外举措来恢复其信誉，甚至震慑市场，以表决心。加息50个基点的初始举措将产生降低通胀的反身性，这将缓解未来更加激进或者令经济承担更痛苦措施的需求。戏剧的是在鬼故事把美股吓崩之后，阿克曼顺势抄底了310万股Netflix的股票。","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638255449,"gmtCreate":1645404827113,"gmtModify":1645404827487,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[Happy]&nbsp;","listText":"[Happy]&nbsp;","text":"[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638255449","repostId":"1145113098","repostType":4,"repost":{"id":"1145113098","pubTimestamp":1645265827,"share":"https://www.laohu8.com/m/news/1145113098?lang=&edition=full","pubTime":"2022-02-19 18:17","market":"us","language":"zh","title":"谁在交易通胀？","url":"https://stock-news.laohu8.com/highlight/detail?id=1145113098","media":"远川投资评论","summary":"“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不","content":"<html><head></head><body><p>“不好意思，我们要提价1元了。”</p><p>在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“<b>五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨</b>，希望17块的幽兰拿铁不会影响你点奶茶的心情。”</p><p>茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及<a href=\"https://laohu8.com/S/603711\">香飘飘</a>等消费品中蔓延开来，这也意味着原油、铝、锡、<a href=\"https://laohu8.com/S/000061\">农产品</a>等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，100块的贺岁档电影票也没那么不合理了。</p><p>所有的涨价，都把矛头指向了最近二级市场讨论火爆的通胀预期。</p><p>而这也是全人类共同面临的问题—<b>美国1月通胀率升至7.5%，创下了40年来的新高</b>。这也引得，高盛集团预测美联储2022年将加息七次。</p><p>加息的鬼故事夜来风雨声，加上俄乌冲突的助燃，引得全球市场股票大跌，国内创业板指数年初跌幅高达17%，此前风靡的赛道投资在风声鹤唳中似乎到了最危险的境地。</p><p><img src=\"https://static.tigerbbs.com/a6f2ea8f645f2fdf8a633414eef2a11a\" tg-width=\"1080\" tg-height=\"788\" referrerpolicy=\"no-referrer\"/></p><p>美国通胀达到1982年水平</p><p>正所谓通胀之下无牛市。</p><p>在疫情的滔天大水下，面对成本端价格高企，各国央行有着“收水”的预期，股市信心脆弱。而全球成长股刚经历了一轮结构性的大牛市，通胀也绷紧了各国投资者的神经。</p><p>在这个关键时点，不少海外明星基金经理发表了对通胀的看法，之中的预判也一定程度影响了他们的持仓，有的“意见领袖”甚至能影响后续的市场，观点交锋尤为精彩。</p><p>笔者精选了几位“新晋巴菲特”的分享，希望对大家的宏观研判有所帮助。</p><p><b>01、“英国巴菲特”：商品通胀不等于零售价格通胀</b></p><p>“英国巴菲特”特里·史密斯（Terry Smith），不同于“女巴菲特”木头姐与老巴风格大相径庭，管理260亿美元Fundsmith的他是一个实打实的价值投资者，具有著名的三步投资策略“<b>购买好公司-不支付过高的价格-什么都不做</b>”。</p><p>不过最近他并不走运，因持仓股Paypal与Meta财报不及预期，Smith今年年初基金跌幅逾10%。</p><p><img src=\"https://static.tigerbbs.com/b973733af4ebf53e97189af0e24b3274\" tg-width=\"634\" tg-height=\"374\" referrerpolicy=\"no-referrer\"/></p><p>Terry Smith业绩表现</p><p>Smith对通胀的观点如下：</p><p>通货膨胀的存在毋庸置疑，11月，德国的批发价格同比增长16.6%，西班牙PPI高达33.1%，而这些数据只是冰山一角。</p><p>不难看出通胀的潜在原因：在次贷危机后，央行通过量化宽松扩大资产负债表，随后又出台了巨额财政和货币刺激措施，以应对疫情的影响。鉴于货币供应的增长速度远远超过了商品和服务生产的增长速度，这些商品和服务的价格肯定会被抬高，<b>事实上，通胀也必然随之而来。</b></p><p>然而，<b>这忽略了方程式中另一个重要因素——货币流通速度</b>。人们更倾向于存钱还是花钱？储蓄率在信贷危机后，疫情期间再次跃升，或许是人们谨慎消费，亦或是消费机会减少。目前旅游板块回到了危机前的水平，所以<b>我们已经具备了让通胀飙升的所有因素。</b></p><p>在这一点上，人们很可能会感到困惑，特别是考虑到“当局”在信贷危机十年中，大部分时间都在产生通胀，以抵消信用危机的影响。但是要小心控制进度，这像点篝火，如果你浇上汽油，从本来没有火苗到发出一声“嗖”的巨响，你会发现把花园的栅栏也点着了。当通货膨胀发生时，它可能会超出你的想象。</p><p><img src=\"https://static.tigerbbs.com/41f18106669a53ee74eb50349d5251cb\" tg-width=\"865\" tg-height=\"545\" referrerpolicy=\"no-referrer\"/></p><p>Terry Smith认为商品的通胀不一定等于零售价格通胀，<b>商品价格与CPI没有明显相关性，</b>原因在于消费者不直接购买大宗商品。西班牙PPI上涨33%，其中能源价格上涨88%，金属上涨48%，纸制品上涨16%，而食品仅上涨8.3%。</p><p>因此，投入成本通胀最初影响的是企业利润，而不是消费品价格。<b>一个公司毛利率越高，就越能免受通胀影响</b>。就股票而言，估值越高受通胀影响就越大，这就是为什么亏损的科技股最近表现的如此疲软的原因，可能还有别的——例如越来越多的人意识到自己投资的是商业模式，而不是公司。</p><p>然而，我买的公司毛利率超过60%，从基本面看他们更有能力抵御通胀。</p><p><b>02、“女巴菲特”：通胀证伪，持仓处于深度价值领域</b></p><p>通胀预期的头号受害者，刚经历了腰斩的木头姐凯西·伍德（Cathie Wood），在方舟投资的年度报告中对通胀做了<b>意念否定</b>，以下为木头姐的观点摘要：</p><p>市场从成长股转向价值和防御性股票。<b>这种轮换的主要原因是担心通胀，不是与供应链瓶颈相关的短期问题，而是对新冠及其过度货币和财政政策反应的结果</b>。通胀往往有利于价值股，特别是能源、金融服务、工业和材料领域。</p><p>与此同时，通过提高贴现率和降低未来现金流现值，更高的利率往往会损害成长型股票。2021年11月，美联储主席鲍威尔提出，通胀可能不是“暂时”的。在今年的衰退中，创新型企业的税收流失，也给了投资者更多规避这些公司的理由。</p><p>但是，供应链瓶颈已经持续了比我们预期更长的时间，尤其密歇根大学消费者信心指数已经下降到新冠危机最低点时的程度。随着2020年春季刺激支出将储蓄率膨胀至33%,消费品支出飙升，压倒了将要倒闭的企业。新冠之前，企业处于避险模式，不仅是因为中美贸易紧张，也是因为2019年夏末收益率曲线的反转。</p><p>随着企业在2020年初关闭，一些消费者转而使用政府补贴来“囤积”商品，提高居民家庭的“库存”水平。在一些供应链问题加剧的情况下，消费者在年初开始购物，并担心货架会空空如也，这导致在去年11月将CPI推高到6.8%。与此同时，美国消费者储蓄率降至8%以下，这是新冠前的水平，为未来的消费留下更少的空间，</p><p>因此，在未来3-6个月，<b>随着供应链瓶颈的消除，消费增长可能大幅放缓，这可能会给企业带来过剩的库存</b>。如果我们是正确的，市场未来可能会更多关注美国经济衰退的风险、新兴市场经济体减速，<b>以及潜在的令人惊讶的通胀下降。</b></p><p>一些大宗商品价格已经开始暴跌：铁矿石价格下跌了36%，而波罗的海干散货运价指数下跌了39%，DRAM价格下跌了27%，美国木材价格下跌了35%。就连石油价格，也下跌了15%（注：2个月前数据）。</p><p>通常，在经济放缓时，新技术的应用普及会加快，因为相关企业和消费品更愿意改变行为，他们现在看到的许多技术领先者似乎都已经处于深度价值领域。</p><p><b>03、“小巴菲特”：押注通胀就是押注人们的聪明才智</b></p><p>《安全边际》的作者，被称为“小巴菲特”的塞斯·卡拉曼(Seth Klarman)，管理着波士顿300亿美元规模的Baupost集团，最近发表了对通胀的看法：</p><p>商品价格在2021年飙升，原因是美国的商品价格通胀。2019年前的十年里，平均增长率为1.8%，而这一年急剧加速，石油一度上涨到每桶80美元以上，一些市场石油价格一度达到每加仑5美元。运输成本也飙升，11月CPI上涨6.8%，创造39年新高。</p><p>这个数字可能低估了美国人所经历的通胀，因为记录这个数字的方法片面，尤其是在房屋拥有成本方面。欧盟的通胀率达到了4.9%，为24年来最高水平。</p><p>起初似乎认为当前一连串价格上涨是暂时的，但后续美联储停止了这种说法，加快缩减债券购买的速度，并暗示2022年加息三次，短期利率走高。显然，美联储已经从一心关注就业转向对抗通胀，这是当今市场未预见的。</p><p>至于未来的通胀，争论双方都有很好的论据。</p><p>一方观点是，导致持续通缩的全球化正在倒退，工资水平正在下降，美联储可能会被迫保持低利率，这将持续刺激消费需求，同时鼓舞着市场投机。</p><p>另一方观点是，前所未有的经济刺激已经结束，世界最大经济体高债务和老龄化是通缩力量，近几个月表现最好的商品从高点回落。我们处于这个经济周期的后期，经济低迷有助于消除通胀的力量，<b>而且源源不断的技术进步可能会产生通缩影响。</b></p><p>用市场策略师大卫·罗森伯格的话说：“<b>押注通胀就是押注人类的聪明才智。</b>”</p><p>就核心而言，通货膨胀既是一种心理现象，也是一种货币现象。通胀上升预期会导致人们和企业改变他们的决策。例如，他们可能会囤积库存以预期价格进一步上涨，这可能会反过来更快推动上涨。</p><p>事实上，通胀预期已经在急剧上升。供给方在疫情中伤痕累累，而财政过度刺激确保需求强劲和增长。</p><p><b>我们不知道当前通胀有多糟，但我们认为不断上升的通胀和大幅提高利率可能对市场构成真正的危险。所以，我们购买了这种环境下可以获利的对冲。</b></p><p><b>04、“下一个巴菲特”：通胀不会像彗星一样摧毁地球</b></p><p>由于2008年之前创造了12年年化25%的收益，大卫·霍恩（DavidEinhorn）被称为“下一个巴菲特”。但后来做空<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>亏损严重，以至于被马斯克寄一箱短裤（注：英文short有做空和短裤双重释义）。</p><p>去年四季度，霍恩的绿光资本（Greenlight Capital）开始交易通胀，积累了1000美元的特斯拉看跌期权，并且重仓了地产及周期公司，收获18.6%的收益。</p><p><img src=\"https://static.tigerbbs.com/226f55b98f49bf5c9ae9052c768c2f37\" tg-width=\"1080\" tg-height=\"648\" referrerpolicy=\"no-referrer\"/></p><p>大卫·霍恩收到马斯克寄来的短裤</p><p>本轮交易的成功也源自于他四季度的预判：鲍威尔是否认为只要注意到通胀就会消失？</p><p>当然，整个游戏都是为了支持市场，这也是大多数投资者所期望的。<b>当派对变得疯狂时，美联储不会拿走酒杯。相反，当一方要抢夺时，他只会带着更大的冲击力回来。</b>这就是为什么现在许多人担心美联储可能会因收紧正在减速的通胀而犯下严重的政策错误。一些人认为，<b>即使是单次收紧也是错误的。</b></p><p>我们认为，通胀问题是如此根深蒂固，以至于美联储要想成功应对它，就必须牺牲金融市场的首要地位。我们不知道美联储是否会通过始终落后于曲线来容忍通胀，或者让经济状况收紧到放缓的地步，也许更重要的是，美联储会被指责为经济放缓的罪魁祸首。</p><p>事实上，经济和劳动力市场是过热的，商品市场变得越来越紧俏。尽管政界人士对 80 美元的石油和 6 美元的玉米表示担忧，但这两种关键原材料可能会大幅上涨。仅仅停止印钞并逐步提高利率以保持股市支撑，似乎不太可能将通胀率回落到 2% 以下。</p><p><b>而且劳动力短缺的驱动因素之一是年轻投机者的账面浮盈，他们宁愿“在家交易”也不愿找工作，让他们重新审视这种想法可能需要一个严重的熊市。</b></p><p>这一切都让我们想起了Netflix电影《不要抬头》，当真正解决问题时，我们的领导人并不认真。</p><p><b>通货膨胀不会像彗星一样摧毁地球</b>。然而，由于央行宽松的货币政策与全球 ESG 举措相结合时，世界上的穷人面临冻死和挨饿的风险。在一些地方，这正在造成动荡。</p><p>最终，我们相信通胀终将衰退，无论美联储选择做什么，必需品价格的上涨最终会导致低收入消费者减少购买其他东西，有迹象表明这已经在发生。</p><p><b>05、“Baby巴菲特”：美联储失去了通胀斗士的信誉</b></p><p>在疫情期间以2700万美元赢得26亿美元的比尔·阿克曼（Bill Ackman）被人们封为“战神”，在此之前福布斯封面将他称为 “Baby Buffett”。他的潘兴广场资本（Pershing Square Capital Management）经历了大起大落，从规模最高的200亿美元缩水到70亿美元，如今这匹华尔街之狼收复了规模。</p><p><img src=\"https://static.tigerbbs.com/0662176b531c196c9c4cf19b4dd0b7a0\" tg-width=\"688\" tg-height=\"899\" referrerpolicy=\"no-referrer\"/></p><p>阿克曼登上福布斯封面故事：Baby Buffett</p><p>在去年，阿克曼做空较短期限的美国国债及部分十年期债券，这1.7亿美元的期权赌注，后来价值约10亿美元[1]。</p><p>阿克曼利用疫情和通胀彻底翻身，最近也在推特发表了对于通胀的看法：</p><p>虽然传统观念认为美联储今年会加息3-4次缓解通胀，市场预计加息25个基点。但美联储失去了作为通胀斗士的公信力，正在逐步输掉通胀战争，给脆弱的人带来痛苦的打击，因此3-4次加息是否足够？</p><p><b>我认为美联储可以通过加息50个基点的意外举措来恢复其信誉，甚至震慑市场，以表决心。</b>加息50个基点的初始举措将产生降低通胀的反身性，这将缓解未来更加激进或者令经济承担更痛苦措施的需求。</p><p>戏剧的是在鬼故事把美股吓崩之后，阿克曼顺势抄底了310万股Netflix的股票。</p></body></html>","source":"lsy1583835599575","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>谁在交易通胀？</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n谁在交易通胀？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-19 18:17 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ><strong>远川投资评论</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不会影响你点奶茶的心情。”茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及香飘飘等消费品中蔓延开来，这也意味着原油、铝、锡、农产品等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/CCuzL603ERXRJv4xprzBKQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145113098","content_text":"“不好意思，我们要提价1元了。”在长沙，每一百米一家的“茶颜悦色”，门口都竖立着这句红色大字标语。标语下的致歉信写道：“五年半前的价格体系，实在抵不住大环境造成的原材料成本上涨，希望17块的幽兰拿铁不会影响你点奶茶的心情。”茶颜只是时代的小切口，涨价早已在榨菜、泡面、海天以及香飘飘等消费品中蔓延开来，这也意味着原油、铝、锡、农产品等大宗的涨价不光影响了制造业，也传导到了人们的日常生活。这么比较，100块的贺岁档电影票也没那么不合理了。所有的涨价，都把矛头指向了最近二级市场讨论火爆的通胀预期。而这也是全人类共同面临的问题—美国1月通胀率升至7.5%，创下了40年来的新高。这也引得，高盛集团预测美联储2022年将加息七次。加息的鬼故事夜来风雨声，加上俄乌冲突的助燃，引得全球市场股票大跌，国内创业板指数年初跌幅高达17%，此前风靡的赛道投资在风声鹤唳中似乎到了最危险的境地。美国通胀达到1982年水平正所谓通胀之下无牛市。在疫情的滔天大水下，面对成本端价格高企，各国央行有着“收水”的预期，股市信心脆弱。而全球成长股刚经历了一轮结构性的大牛市，通胀也绷紧了各国投资者的神经。在这个关键时点，不少海外明星基金经理发表了对通胀的看法，之中的预判也一定程度影响了他们的持仓，有的“意见领袖”甚至能影响后续的市场，观点交锋尤为精彩。笔者精选了几位“新晋巴菲特”的分享，希望对大家的宏观研判有所帮助。01、“英国巴菲特”：商品通胀不等于零售价格通胀“英国巴菲特”特里·史密斯（Terry Smith），不同于“女巴菲特”木头姐与老巴风格大相径庭，管理260亿美元Fundsmith的他是一个实打实的价值投资者，具有著名的三步投资策略“购买好公司-不支付过高的价格-什么都不做”。不过最近他并不走运，因持仓股Paypal与Meta财报不及预期，Smith今年年初基金跌幅逾10%。Terry Smith业绩表现Smith对通胀的观点如下：通货膨胀的存在毋庸置疑，11月，德国的批发价格同比增长16.6%，西班牙PPI高达33.1%，而这些数据只是冰山一角。不难看出通胀的潜在原因：在次贷危机后，央行通过量化宽松扩大资产负债表，随后又出台了巨额财政和货币刺激措施，以应对疫情的影响。鉴于货币供应的增长速度远远超过了商品和服务生产的增长速度，这些商品和服务的价格肯定会被抬高，事实上，通胀也必然随之而来。然而，这忽略了方程式中另一个重要因素——货币流通速度。人们更倾向于存钱还是花钱？储蓄率在信贷危机后，疫情期间再次跃升，或许是人们谨慎消费，亦或是消费机会减少。目前旅游板块回到了危机前的水平，所以我们已经具备了让通胀飙升的所有因素。在这一点上，人们很可能会感到困惑，特别是考虑到“当局”在信贷危机十年中，大部分时间都在产生通胀，以抵消信用危机的影响。但是要小心控制进度，这像点篝火，如果你浇上汽油，从本来没有火苗到发出一声“嗖”的巨响，你会发现把花园的栅栏也点着了。当通货膨胀发生时，它可能会超出你的想象。Terry Smith认为商品的通胀不一定等于零售价格通胀，商品价格与CPI没有明显相关性，原因在于消费者不直接购买大宗商品。西班牙PPI上涨33%，其中能源价格上涨88%，金属上涨48%，纸制品上涨16%，而食品仅上涨8.3%。因此，投入成本通胀最初影响的是企业利润，而不是消费品价格。一个公司毛利率越高，就越能免受通胀影响。就股票而言，估值越高受通胀影响就越大，这就是为什么亏损的科技股最近表现的如此疲软的原因，可能还有别的——例如越来越多的人意识到自己投资的是商业模式，而不是公司。然而，我买的公司毛利率超过60%，从基本面看他们更有能力抵御通胀。02、“女巴菲特”：通胀证伪，持仓处于深度价值领域通胀预期的头号受害者，刚经历了腰斩的木头姐凯西·伍德（Cathie Wood），在方舟投资的年度报告中对通胀做了意念否定，以下为木头姐的观点摘要：市场从成长股转向价值和防御性股票。这种轮换的主要原因是担心通胀，不是与供应链瓶颈相关的短期问题，而是对新冠及其过度货币和财政政策反应的结果。通胀往往有利于价值股，特别是能源、金融服务、工业和材料领域。与此同时，通过提高贴现率和降低未来现金流现值，更高的利率往往会损害成长型股票。2021年11月，美联储主席鲍威尔提出，通胀可能不是“暂时”的。在今年的衰退中，创新型企业的税收流失，也给了投资者更多规避这些公司的理由。但是，供应链瓶颈已经持续了比我们预期更长的时间，尤其密歇根大学消费者信心指数已经下降到新冠危机最低点时的程度。随着2020年春季刺激支出将储蓄率膨胀至33%,消费品支出飙升，压倒了将要倒闭的企业。新冠之前，企业处于避险模式，不仅是因为中美贸易紧张，也是因为2019年夏末收益率曲线的反转。随着企业在2020年初关闭，一些消费者转而使用政府补贴来“囤积”商品，提高居民家庭的“库存”水平。在一些供应链问题加剧的情况下，消费者在年初开始购物，并担心货架会空空如也，这导致在去年11月将CPI推高到6.8%。与此同时，美国消费者储蓄率降至8%以下，这是新冠前的水平，为未来的消费留下更少的空间，因此，在未来3-6个月，随着供应链瓶颈的消除，消费增长可能大幅放缓，这可能会给企业带来过剩的库存。如果我们是正确的，市场未来可能会更多关注美国经济衰退的风险、新兴市场经济体减速，以及潜在的令人惊讶的通胀下降。一些大宗商品价格已经开始暴跌：铁矿石价格下跌了36%，而波罗的海干散货运价指数下跌了39%，DRAM价格下跌了27%，美国木材价格下跌了35%。就连石油价格，也下跌了15%（注：2个月前数据）。通常，在经济放缓时，新技术的应用普及会加快，因为相关企业和消费品更愿意改变行为，他们现在看到的许多技术领先者似乎都已经处于深度价值领域。03、“小巴菲特”：押注通胀就是押注人们的聪明才智《安全边际》的作者，被称为“小巴菲特”的塞斯·卡拉曼(Seth Klarman)，管理着波士顿300亿美元规模的Baupost集团，最近发表了对通胀的看法：商品价格在2021年飙升，原因是美国的商品价格通胀。2019年前的十年里，平均增长率为1.8%，而这一年急剧加速，石油一度上涨到每桶80美元以上，一些市场石油价格一度达到每加仑5美元。运输成本也飙升，11月CPI上涨6.8%，创造39年新高。这个数字可能低估了美国人所经历的通胀，因为记录这个数字的方法片面，尤其是在房屋拥有成本方面。欧盟的通胀率达到了4.9%，为24年来最高水平。起初似乎认为当前一连串价格上涨是暂时的，但后续美联储停止了这种说法，加快缩减债券购买的速度，并暗示2022年加息三次，短期利率走高。显然，美联储已经从一心关注就业转向对抗通胀，这是当今市场未预见的。至于未来的通胀，争论双方都有很好的论据。一方观点是，导致持续通缩的全球化正在倒退，工资水平正在下降，美联储可能会被迫保持低利率，这将持续刺激消费需求，同时鼓舞着市场投机。另一方观点是，前所未有的经济刺激已经结束，世界最大经济体高债务和老龄化是通缩力量，近几个月表现最好的商品从高点回落。我们处于这个经济周期的后期，经济低迷有助于消除通胀的力量，而且源源不断的技术进步可能会产生通缩影响。用市场策略师大卫·罗森伯格的话说：“押注通胀就是押注人类的聪明才智。”就核心而言，通货膨胀既是一种心理现象，也是一种货币现象。通胀上升预期会导致人们和企业改变他们的决策。例如，他们可能会囤积库存以预期价格进一步上涨，这可能会反过来更快推动上涨。事实上，通胀预期已经在急剧上升。供给方在疫情中伤痕累累，而财政过度刺激确保需求强劲和增长。我们不知道当前通胀有多糟，但我们认为不断上升的通胀和大幅提高利率可能对市场构成真正的危险。所以，我们购买了这种环境下可以获利的对冲。04、“下一个巴菲特”：通胀不会像彗星一样摧毁地球由于2008年之前创造了12年年化25%的收益，大卫·霍恩（DavidEinhorn）被称为“下一个巴菲特”。但后来做空特斯拉亏损严重，以至于被马斯克寄一箱短裤（注：英文short有做空和短裤双重释义）。去年四季度，霍恩的绿光资本（Greenlight Capital）开始交易通胀，积累了1000美元的特斯拉看跌期权，并且重仓了地产及周期公司，收获18.6%的收益。大卫·霍恩收到马斯克寄来的短裤本轮交易的成功也源自于他四季度的预判：鲍威尔是否认为只要注意到通胀就会消失？当然，整个游戏都是为了支持市场，这也是大多数投资者所期望的。当派对变得疯狂时，美联储不会拿走酒杯。相反，当一方要抢夺时，他只会带着更大的冲击力回来。这就是为什么现在许多人担心美联储可能会因收紧正在减速的通胀而犯下严重的政策错误。一些人认为，即使是单次收紧也是错误的。我们认为，通胀问题是如此根深蒂固，以至于美联储要想成功应对它，就必须牺牲金融市场的首要地位。我们不知道美联储是否会通过始终落后于曲线来容忍通胀，或者让经济状况收紧到放缓的地步，也许更重要的是，美联储会被指责为经济放缓的罪魁祸首。事实上，经济和劳动力市场是过热的，商品市场变得越来越紧俏。尽管政界人士对 80 美元的石油和 6 美元的玉米表示担忧，但这两种关键原材料可能会大幅上涨。仅仅停止印钞并逐步提高利率以保持股市支撑，似乎不太可能将通胀率回落到 2% 以下。而且劳动力短缺的驱动因素之一是年轻投机者的账面浮盈，他们宁愿“在家交易”也不愿找工作，让他们重新审视这种想法可能需要一个严重的熊市。这一切都让我们想起了Netflix电影《不要抬头》，当真正解决问题时，我们的领导人并不认真。通货膨胀不会像彗星一样摧毁地球。然而，由于央行宽松的货币政策与全球 ESG 举措相结合时，世界上的穷人面临冻死和挨饿的风险。在一些地方，这正在造成动荡。最终，我们相信通胀终将衰退，无论美联储选择做什么，必需品价格的上涨最终会导致低收入消费者减少购买其他东西，有迹象表明这已经在发生。05、“Baby巴菲特”：美联储失去了通胀斗士的信誉在疫情期间以2700万美元赢得26亿美元的比尔·阿克曼（Bill Ackman）被人们封为“战神”，在此之前福布斯封面将他称为 “Baby Buffett”。他的潘兴广场资本（Pershing Square Capital Management）经历了大起大落，从规模最高的200亿美元缩水到70亿美元，如今这匹华尔街之狼收复了规模。阿克曼登上福布斯封面故事：Baby Buffett在去年，阿克曼做空较短期限的美国国债及部分十年期债券，这1.7亿美元的期权赌注，后来价值约10亿美元[1]。阿克曼利用疫情和通胀彻底翻身，最近也在推特发表了对于通胀的看法：虽然传统观念认为美联储今年会加息3-4次缓解通胀，市场预计加息25个基点。但美联储失去了作为通胀斗士的公信力，正在逐步输掉通胀战争，给脆弱的人带来痛苦的打击，因此3-4次加息是否足够？我认为美联储可以通过加息50个基点的意外举措来恢复其信誉，甚至震慑市场，以表决心。加息50个基点的初始举措将产生降低通胀的反身性，这将缓解未来更加激进或者令经济承担更痛苦措施的需求。戏剧的是在鬼故事把美股吓崩之后，阿克曼顺势抄底了310万股Netflix的股票。","news_type":1},"isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":638167730,"gmtCreate":1645145571594,"gmtModify":1645145571984,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp;haha nvm slowly wait","listText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp;haha nvm slowly wait","text":"$GENTING SINGAPORE LIMITED(G13.SI)$ haha nvm slowly wait","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/638167730","isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":633704670,"gmtCreate":1644310118570,"gmtModify":1644310118886,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/5DX.SI\">$METAL COMPONENT ENGG LTD(5DX.SI)$</a>go up pls....&nbsp;","listText":"<a href=\"https://laohu8.com/S/5DX.SI\">$METAL COMPONENT ENGG LTD(5DX.SI)$</a>go up pls....&nbsp;","text":"$METAL COMPONENT ENGG LTD(5DX.SI)$go up pls....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/633704670","isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699066029,"gmtCreate":1639724262921,"gmtModify":1639724263259,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Daily mission, like pls thanks","listText":"Daily mission, like pls thanks","text":"Daily mission, like pls thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/699066029","repostId":"1108936663","repostType":4,"repost":{"id":"1108936663","pubTimestamp":1639723361,"share":"https://www.laohu8.com/m/news/1108936663?lang=&edition=full","pubTime":"2021-12-17 14:42","market":"us","language":"en","title":"Uber: Ugly Duckling Is Growing Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1108936663","media":"Seeking Alpha","summary":"Summary\n\nUber's delivery business is booming and expanding resulting in the company leveraging econo","content":"<p><b>Summary</b></p>\n<ul>\n <li>Uber's delivery business is booming and expanding resulting in the company leveraging economies of scale to reach profitability.</li>\n <li>Mobility business is fast recovering from the pandemic as the economies reopen.</li>\n <li>Future lockdowns and covid restrictions that were seen before are not likely.</li>\n <li>Therefore, Uber may be the ugly duckling waiting to become a swan.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44b93f3ad8b1091da22c151e759153e2\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>MOZCO Mateusz Szymanski/iStock Editorial via Getty Images</span></p>\n<p><b>Introduction and Thesis</b></p>\n<p>I am starting to believe that Uber's(NYSE:UBER)story is unfolding like the story of the ugly duckling. In the early days of going public, Uber suffered ignorance and unfavorable views from the investing community just like the ugly duckling, but today, I believe Uber is just around the corner from blossoming into a beautiful and successful swan.</p>\n<p>Uber's business is turning around as the underlying trend forms in favor of the company. From the depths of the pandemic to the pace of recovery seen today, the world changed for good, at least for Uber. One of those changes is food delivery. During the pandemic, consumers could not comfortably leave their houses and dine out resulting in those consumers turning to food delivery permanently growing a business that has been the primary reason for Uber's continuous losses. Thus, as the trend of food delivery continues to grow from the pandemic, Uber's business through economies of scale has been enjoying the favorable trend, and I believe that the convenience of food delivery will allow permanent penetration of delivery in our daily lives. Further, as mobility recovers as well from the pandemic in all aspects, Uber is likely to report a profitable 2022 fiscal year. Although there are risks of dilution,Covid and macroeconomic risks, I believe now is finally the time to consider investing in the ugly duckling.</p>\n<p><b>Favorable Trend</b></p>\n<p>Pandemic brought devastation across nearly all industries and aspects of our lives; however, for Uber, I believe pandemic turned out to be beneficial for the company. Uber's major businesses are delivery and mobility. Before the pandemic, while the mobility business was starting to report positive adjusted EBTIDA, the delivery business continued to struggle. The market was relatively smaller and competitive leading to Uber spending immense amounts of capital on sales, marketing, and development. Even worse, the economies of scale were not seen at the time. However, times have changed for the delivery business. First, the food delivery industry exploded in popularity. For example, Uber's delivery business grew almost&nbsp;3 fold&nbsp;from&nbsp;2019Q4. This massive growth in the industry allowed Uber to leverage economies of scale leading to improving bottom lines. Further, the adaption of the delivery culture in the daily lives of the people allowed Uber to expand its business to more than delivering foods. The company is currently delivering groceries, Christmas trees, and even alcoholic beverages. Therefore, as the market continues to mature, Uber can leverage economies of scale to turn around its loss-leading delivery business into a profitable giant.</p>\n<p>Some critics may argue that delivery was only successful because consumers were not comfortable going outside during the pandemic. I would like to argue otherwise. A pandemic may have been the driving factor behind the adaption of the delivery service by the public; however, convenience was what is and will sustain this business model. Through innovation seen in the past decades, we have seen how much consumers care about convenience through the rise of Amazon(NASDAQ:AMZN), Meta Platforms(NASDAQ:FB), and Apple(NASDAQ:AAPL). Why socialize digitally when you can meet others physically? Why order packages online and wait days when you can simply go buy that product today? Why use smartphones when you already had mobile phones? Consumers will never go back to the more inconvenient way of life.</p>\n<p>Unlike the delivery business, the mobility business was damaged by the pandemic, but it is expected that the mobility business will return to 2019 levels as the impact of the pandemic wanes. As the picture below shows, the mobility business in the world's biggest cities has almost returned to normalcy after the lockdown showing that the demand for ride-hailing services is still present. Further, as pandemic subsides and offices re-open, the mobility business will continue to grow.</p>\n<p><img src=\"https://static.tigerbbs.com/e0a5ee8af7dd1261e2686a20efa4d3b9\" tg-width=\"640\" tg-height=\"340\" width=\"100%\" height=\"auto\"></p>\n<p><b>Covid Fears</b></p>\n<p>Although pandemic was the leading cause of the delivery business success, a worsening pandemic will most likely damage my bullish thesis. A mobility business, a business segment set to lead profitability, will be heavily damaged; however, contrary to the mainstream media's opinion, I believe this scenario is unlikely to unfold due to vaccines and public sentiments.</p>\n<p>Pfizer(NYSE:PFE)&nbsp;on December 8th confirmed that theirCovid vaccines are still effective against the Omicron variant. The company said that a preliminary study \"demonstrates that three doses [of the vaccines] neutralize the Omicron variant while two doses show significantly reduced neutralization titers.\" The company's claims are backed by Omicron orCovid outbreak unfolding in many European nations including Italy, France, the UK, and more.</p>\n<p><img src=\"https://static.tigerbbs.com/fe98b474db7223afa7617f0cb8545e42\" tg-width=\"640\" tg-height=\"413\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/8849809f79a66a367009de9b31677d63\" tg-width=\"640\" tg-height=\"400\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/415cdc534da7dc5a6d6f9e754adf099e\" tg-width=\"640\" tg-height=\"388\" width=\"100%\" height=\"auto\"></p>\n<p>Using France as an example, the first picture above shows theCovid cases rising exponentially while the second picture shows the death rate is range-bound. The vaccination rate, shown in the third picture, backs up Pfizer's claim regarding the efficacy of its vaccines because while infections are rising, fatalities are limited due to the vaccines.</p>\n<p>Further, the public's resent for more lockdowns and extreme restrictions are most likely to make Uber's mobility segment of the business more resilient than previous outbreaks.</p>\n<p><b>Financials and Valuation</b></p>\n<p>Uber's balance sheet along with valuation is great. According to&nbsp;Uber's quarterly report, Uber reported revenue growth of 72% year-over-year to $4.8 billion dollars with $8 million positive adjusted EBITDA. After years of losses, the delivery businesses reached a near breakeven level to -0.1% adjusted EBITDA margin. Further, the company's mobility or mobility business had a 5.5% adjusted EBITDA margin, which was on par with the pre-pandemic margins. Overall, the continual improvement of the company's business is resulting in decreasing losses and a stronger balance sheet. Uber has about $5.6 billion in cash and about $33 billion in total assets while the total liabilities were about $20 billion bringing total liability to asset ratio (L/A) to about 60%. All in all, I believe Uber's balance sheet is strong enough to sustain the company's operation given no major changes.</p>\n<p>The valuation of Uber is slightly high. Uber, still unprofitable, trades at about 4.7 times&nbsp;price to&nbsp;sales ratio and about 3 times the forward price to sales ratio. These numbers may seem minimal in comparison with other companies, but because the margin expansion for Uber is questionable, I would say that Uber's valuation today is slightly high. However, as the business turns to reach profitability in the near future, I think the slightly high valuation seen in Uber may be manageable for some investors.</p>\n<p><b>Risks</b></p>\n<p>Investing in Uber comes with significant risks including dilution risks and macroeconomic risks. Uber has been extremely unprofitable for the past years resulting in massive dilution.Uber's outstanding shares increased 12.35% in 2018, 160.62% in 2019, 40.42% in 2020, and 8.2% to date in 2021. As such, to maintain the company's operations, Uber continuously diluted its existing shareholders. Thus, any hurdles to reaching profitability may result in even more dilution in the future. Also, the reason for Uber's financial health today is because of the massive dilution. Further, macroeconomic risks beyond Uber's control may impact the company. Inflation is already at historical highs, and it may continue to stay at these levels resulting in an even faster pace of tapering and rising rates by the Federal Reserve. Therefore, because Uber is still not profitable, raising rates will most likely affect the company negatively.</p>\n<p><b>Summary</b></p>\n<p>No one knows for sure if Uber will blossom into a beautiful swan from an ugly duckling, but today, I am starting to be cautiously bullish on Uber. Pandemic ultimately benefited the company's overall operations leading to a boom in the delivery business, which aided in Uber reaching unit economics. Further, the delivery business is expected to expand as consumers adapt to a more convenient way of life. For the mobility business, there were significant damages; however, as Uber has shown, the mobility business is strongly recovering to 2019 levels as the economies reopen. Therefore, as Uber attempts to turn around its business, I believe investors should worth consider investing in Uber. After all, Uber may blossom into a beautiful swan.</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>Uber: Ugly Duckling Is Growing 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\">\nUber: Ugly Duckling Is Growing Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-17 14:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4475598-uber-ugly-duckling-is-growing-up><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nUber's delivery business is booming and expanding resulting in the company leveraging economies of scale to reach profitability.\nMobility business is fast recovering from the pandemic as the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4475598-uber-ugly-duckling-is-growing-up\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步"},"source_url":"https://seekingalpha.com/article/4475598-uber-ugly-duckling-is-growing-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108936663","content_text":"Summary\n\nUber's delivery business is booming and expanding resulting in the company leveraging economies of scale to reach profitability.\nMobility business is fast recovering from the pandemic as the economies reopen.\nFuture lockdowns and covid restrictions that were seen before are not likely.\nTherefore, Uber may be the ugly duckling waiting to become a swan.\n\nMOZCO Mateusz Szymanski/iStock Editorial via Getty Images\nIntroduction and Thesis\nI am starting to believe that Uber's(NYSE:UBER)story is unfolding like the story of the ugly duckling. In the early days of going public, Uber suffered ignorance and unfavorable views from the investing community just like the ugly duckling, but today, I believe Uber is just around the corner from blossoming into a beautiful and successful swan.\nUber's business is turning around as the underlying trend forms in favor of the company. From the depths of the pandemic to the pace of recovery seen today, the world changed for good, at least for Uber. One of those changes is food delivery. During the pandemic, consumers could not comfortably leave their houses and dine out resulting in those consumers turning to food delivery permanently growing a business that has been the primary reason for Uber's continuous losses. Thus, as the trend of food delivery continues to grow from the pandemic, Uber's business through economies of scale has been enjoying the favorable trend, and I believe that the convenience of food delivery will allow permanent penetration of delivery in our daily lives. Further, as mobility recovers as well from the pandemic in all aspects, Uber is likely to report a profitable 2022 fiscal year. Although there are risks of dilution,Covid and macroeconomic risks, I believe now is finally the time to consider investing in the ugly duckling.\nFavorable Trend\nPandemic brought devastation across nearly all industries and aspects of our lives; however, for Uber, I believe pandemic turned out to be beneficial for the company. Uber's major businesses are delivery and mobility. Before the pandemic, while the mobility business was starting to report positive adjusted EBTIDA, the delivery business continued to struggle. The market was relatively smaller and competitive leading to Uber spending immense amounts of capital on sales, marketing, and development. Even worse, the economies of scale were not seen at the time. However, times have changed for the delivery business. First, the food delivery industry exploded in popularity. For example, Uber's delivery business grew almost 3 fold from 2019Q4. This massive growth in the industry allowed Uber to leverage economies of scale leading to improving bottom lines. Further, the adaption of the delivery culture in the daily lives of the people allowed Uber to expand its business to more than delivering foods. The company is currently delivering groceries, Christmas trees, and even alcoholic beverages. Therefore, as the market continues to mature, Uber can leverage economies of scale to turn around its loss-leading delivery business into a profitable giant.\nSome critics may argue that delivery was only successful because consumers were not comfortable going outside during the pandemic. I would like to argue otherwise. A pandemic may have been the driving factor behind the adaption of the delivery service by the public; however, convenience was what is and will sustain this business model. Through innovation seen in the past decades, we have seen how much consumers care about convenience through the rise of Amazon(NASDAQ:AMZN), Meta Platforms(NASDAQ:FB), and Apple(NASDAQ:AAPL). Why socialize digitally when you can meet others physically? Why order packages online and wait days when you can simply go buy that product today? Why use smartphones when you already had mobile phones? Consumers will never go back to the more inconvenient way of life.\nUnlike the delivery business, the mobility business was damaged by the pandemic, but it is expected that the mobility business will return to 2019 levels as the impact of the pandemic wanes. As the picture below shows, the mobility business in the world's biggest cities has almost returned to normalcy after the lockdown showing that the demand for ride-hailing services is still present. Further, as pandemic subsides and offices re-open, the mobility business will continue to grow.\n\nCovid Fears\nAlthough pandemic was the leading cause of the delivery business success, a worsening pandemic will most likely damage my bullish thesis. A mobility business, a business segment set to lead profitability, will be heavily damaged; however, contrary to the mainstream media's opinion, I believe this scenario is unlikely to unfold due to vaccines and public sentiments.\nPfizer(NYSE:PFE) on December 8th confirmed that theirCovid vaccines are still effective against the Omicron variant. The company said that a preliminary study \"demonstrates that three doses [of the vaccines] neutralize the Omicron variant while two doses show significantly reduced neutralization titers.\" The company's claims are backed by Omicron orCovid outbreak unfolding in many European nations including Italy, France, the UK, and more.\n\nUsing France as an example, the first picture above shows theCovid cases rising exponentially while the second picture shows the death rate is range-bound. The vaccination rate, shown in the third picture, backs up Pfizer's claim regarding the efficacy of its vaccines because while infections are rising, fatalities are limited due to the vaccines.\nFurther, the public's resent for more lockdowns and extreme restrictions are most likely to make Uber's mobility segment of the business more resilient than previous outbreaks.\nFinancials and Valuation\nUber's balance sheet along with valuation is great. According to Uber's quarterly report, Uber reported revenue growth of 72% year-over-year to $4.8 billion dollars with $8 million positive adjusted EBITDA. After years of losses, the delivery businesses reached a near breakeven level to -0.1% adjusted EBITDA margin. Further, the company's mobility or mobility business had a 5.5% adjusted EBITDA margin, which was on par with the pre-pandemic margins. Overall, the continual improvement of the company's business is resulting in decreasing losses and a stronger balance sheet. Uber has about $5.6 billion in cash and about $33 billion in total assets while the total liabilities were about $20 billion bringing total liability to asset ratio (L/A) to about 60%. All in all, I believe Uber's balance sheet is strong enough to sustain the company's operation given no major changes.\nThe valuation of Uber is slightly high. Uber, still unprofitable, trades at about 4.7 times price to sales ratio and about 3 times the forward price to sales ratio. These numbers may seem minimal in comparison with other companies, but because the margin expansion for Uber is questionable, I would say that Uber's valuation today is slightly high. However, as the business turns to reach profitability in the near future, I think the slightly high valuation seen in Uber may be manageable for some investors.\nRisks\nInvesting in Uber comes with significant risks including dilution risks and macroeconomic risks. Uber has been extremely unprofitable for the past years resulting in massive dilution.Uber's outstanding shares increased 12.35% in 2018, 160.62% in 2019, 40.42% in 2020, and 8.2% to date in 2021. As such, to maintain the company's operations, Uber continuously diluted its existing shareholders. Thus, any hurdles to reaching profitability may result in even more dilution in the future. Also, the reason for Uber's financial health today is because of the massive dilution. Further, macroeconomic risks beyond Uber's control may impact the company. Inflation is already at historical highs, and it may continue to stay at these levels resulting in an even faster pace of tapering and rising rates by the Federal Reserve. Therefore, because Uber is still not profitable, raising rates will most likely affect the company negatively.\nSummary\nNo one knows for sure if Uber will blossom into a beautiful swan from an ugly duckling, but today, I am starting to be cautiously bullish on Uber. Pandemic ultimately benefited the company's overall operations leading to a boom in the delivery business, which aided in Uber reaching unit economics. Further, the delivery business is expected to expand as consumers adapt to a more convenient way of life. For the mobility business, there were significant damages; however, as Uber has shown, the mobility business is strongly recovering to 2019 levels as the economies reopen. Therefore, as Uber attempts to turn around its business, I believe investors should worth consider investing in Uber. After all, Uber may blossom into a beautiful swan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":879940829,"gmtCreate":1636678714942,"gmtModify":1636678715600,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/532.SI\">$DISA LIMITED(532.SI)$</a>&nbsp;from june till now, no movement at all... Everyday 0.01 - 0.02... Can't close it also... Money kena stuck inside here with no earning...","listText":"<a href=\"https://laohu8.com/S/532.SI\">$DISA LIMITED(532.SI)$</a>&nbsp;from june till now, no movement at all... Everyday 0.01 - 0.02... Can't close it also... Money kena stuck inside here with no earning...","text":"$DISA LIMITED(532.SI)$ from june till now, no movement at all... Everyday 0.01 - 0.02... Can't close it also... Money kena stuck inside here with no earning...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":1,"link":"https://laohu8.com/post/879940829","isVote":1,"tweetType":1,"viewCount":988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841291119,"gmtCreate":1635912203064,"gmtModify":1635912203205,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[难过]&nbsp;why i didn't get attempt&nbsp;","listText":"[难过]&nbsp;why i didn't get attempt&nbsp;","text":"[难过] why i didn't get attempt","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841291119","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/4f487d6799e86204e80dfde72e6040c0","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":810927434,"gmtCreate":1629940642828,"gmtModify":1631891229052,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow! Buy time[财迷]&nbsp;","listText":"Wow! Buy time[财迷]&nbsp;","text":"Wow! Buy time[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":1,"link":"https://laohu8.com/post/810927434","repostId":"1194080589","repostType":4,"repost":{"id":"1194080589","pubTimestamp":1629939960,"share":"https://www.laohu8.com/m/news/1194080589?lang=&edition=full","pubTime":"2021-08-26 09:06","market":"us","language":"en","title":"Microsoft hires former Amazon cloud executive Charlie Bell","url":"https://stock-news.laohu8.com/highlight/detail?id=1194080589","media":"CNBC","summary":"Microsoft has hired Amazon cloud executive Charlie Bell as a corporate vice president, CNBC has conf","content":"<div>\n<p>Microsoft has hired Amazon cloud executive Charlie Bell as a corporate vice president, CNBC has confirmed.\nThe move represents a victory for Microsoft, whose Azure cloud business is trying to take ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/25/microsoft-hires-charlie-bell-former-amazon-cloud-exec.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft hires former Amazon cloud executive Charlie Bell</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\">\nMicrosoft hires former Amazon cloud executive Charlie Bell\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-26 09:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/08/25/microsoft-hires-charlie-bell-former-amazon-cloud-exec.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Microsoft has hired Amazon cloud executive Charlie Bell as a corporate vice president, CNBC has confirmed.\nThe move represents a victory for Microsoft, whose Azure cloud business is trying to take ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/25/microsoft-hires-charlie-bell-former-amazon-cloud-exec.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","MSFT":"微软"},"source_url":"https://www.cnbc.com/2021/08/25/microsoft-hires-charlie-bell-former-amazon-cloud-exec.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1194080589","content_text":"Microsoft has hired Amazon cloud executive Charlie Bell as a corporate vice president, CNBC has confirmed.\nThe move represents a victory for Microsoft, whose Azure cloud business is trying to take share from market-leading Amazon Web Services.\nBell was considered a candidate to become head of AWS once Amazon chose Andy Jassy, the AWS CEO, to lead all of Amazon. Bell belonged to Amazon’s S-team of top leaders, and his responsibilities as a senior vice president included pricing, software development service operations and financial results, CNBC reported earlier this month as Bell left Amazon.\nIt’s not clear what Bell will do at Microsoft initially. He was listed under the organization of Kathleen Hogan, an executive vice president and Microsoft’s chief human resources officer, on a Microsoft corporate directory, according to a copy that CNBC viewed.\nThat location inside Microsoft is unusual given Bell’s 15 years of leadership at AWS, and could be temporary.\nAmazon has previously filed lawsuits against employees who have gone to competing companies. Amazon didn’t immediately respond to a request for comment on its plans regarding Bell.\nBell didn’t respond to a request for comment. A Microsoft spokesperson declined to comment on the move.\nBusiness Insider reported on the appointment earlier on Wednesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":830909773,"gmtCreate":1628997139192,"gmtModify":1631893772047,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"I prefer NVIDIA, buy my friend bought AMD and he earn a lot...&nbsp;[开心]&nbsp;","listText":"I prefer NVIDIA, buy my friend bought AMD and he earn a lot...&nbsp;[开心]&nbsp;","text":"I prefer NVIDIA, buy my friend bought AMD and he earn a lot... [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/830909773","repostId":"1138705612","repostType":4,"repost":{"id":"1138705612","pubTimestamp":1628995730,"share":"https://www.laohu8.com/m/news/1138705612?lang=&edition=full","pubTime":"2021-08-15 10:48","market":"us","language":"en","title":"AMD, Intel, And Nvidia: Which Is The Best Chip Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=1138705612","media":"seekingalpha","summary":"AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&D, marketing, and pricing.Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.This left ","content":"<p><b>Summary</b></p>\n<ul>\n <li>AMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.</li>\n <li>AMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.</li>\n <li>Even so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&amp;D, marketing, and pricing.</li>\n <li>Nvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a8f0aee0f3d10db76a1ee18fe604b40\" tg-width=\"1536\" tg-height=\"864\" referrerpolicy=\"no-referrer\"><span>Andy/iStock via Getty Images</span></p>\n<p>Intel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.</p>\n<p>This left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.</p>\n<p>AMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.</p>\n<p>However, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.</p>\n<p><b>The Ins And Outs of Intel</b></p>\n<p>An understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.</p>\n<p>Consequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.</p>\n<p>Gaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.</p>\n<p>Until fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.</p>\n<p>At the end of Q1, AMD held 19.30% of the x86 desktop&nbsp;market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5%&nbsp;market&nbsp;share in Q4 of 2019.</p>\n<p>Despite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU&nbsp;market.</p>\n<p>The company has an enormous R&amp;D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.</p>\n<p>Investors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.</p>\n<p>However, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.</p>\n<p>Intel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.</p>\n<p><b>An Overview of AMD</b></p>\n<p>In years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.</p>\n<p>However, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/903df41d5400c9807ff487a75a7e5450\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/331cd14b666f520a62d0746d5fadfa5b\" tg-width=\"1280\" tg-height=\"989\" referrerpolicy=\"no-referrer\"><span>Source:Q2 Earnings Presentation</span></p>\n<p>Like Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.</p>\n<p>AMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e7f8fbcab5da8a24d01d2b6408bd5686\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha</span></p>\n<p>AMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.</p>\n<p>In regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/67a0fe74d986cf882623a8f39587d0d8\" tg-width=\"544\" tg-height=\"394\" referrerpolicy=\"no-referrer\"><span>Source:tom'sHARDWARE</span></p>\n<p>However, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.</p>\n<p>Although AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.</p>\n<p>Late last year,AMD entered intoa deal&nbsp;to acquire&nbsp;Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.</p>\n<p>The Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.</p>\n<p>AMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.</p>\n<p><b>A Survey of NVIDIA</b></p>\n<p>NVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.</p>\n<p>The chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/04fb1d71f9df02f6c63907fe784b2fd8\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Source:AMD Investor Presentation</span></p>\n<p>The firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.</p>\n<p>GPUs are being teamed with CPUs to&nbsp;enhance&nbsp;computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to&nbsp;autonomous&nbsp;vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud</p>\n<p>AI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.</p>\n<p>ARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.</p>\n<p>Perhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.</p>\n<p>Unfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.</p>\n<p><b>Head-To-Head Comparisons</b></p>\n<p><b>Valuation Metrics</b></p>\n<p>The following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bdeabcd2ea473601fbaaaa03235de77\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ chart by author</span></p>\n<p>Next, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/884fc2142d97afcc9e2308e50058dd45\" tg-width=\"576\" tg-height=\"336\" referrerpolicy=\"no-referrer\"><span>Chart by author</span></p>\n<p>Note that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.</p>\n<p>Perusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.</p>\n<p>Count me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.</p>\n<p>Do not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.</p>\n<p><b>=Advantage AMD</b></p>\n<p><b>Analysts’ Price Targets</b></p>\n<p>NVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.</p>\n<p>AMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.</p>\n<p>Intel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.</p>\n<p>Investors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.</p>\n<p><b>=Tie AMD/INTC</b></p>\n<p><b>Growth Rates</b></p>\n<p>The next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8ae1b79b3731a985fc209e626ca4886\" tg-width=\"577\" tg-height=\"337\" referrerpolicy=\"no-referrer\"><span>Source:Seeking Alpha Premium/ Chart by author</span></p>\n<p>While investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.</p>\n<p>Advanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.</p>\n<p><b>=Advantage AMD</b></p>\n<p>I considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.</p>\n<p>I often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.</p>\n<p><b>Debt Metrics</b></p>\n<p>NVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.</p>\n<p>AMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.</p>\n<p>Intel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.</p>\n<p>All three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.</p>\n<p><b>R&amp;D Budgets</b></p>\n<p>This is the first time I have&nbsp;compared&nbsp;the R&amp;D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.</p>\n<p>Last fiscal year, Intel devoted over $13.5 billion to R&amp;D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.</p>\n<p>AMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&amp;D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.</p>\n<p>I should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&amp;D budgets.</p>\n<p><b>=Advantage INTC</b></p>\n<p><b>Bottom Line: Which Is The Best Chip Stock?</b></p>\n<p>To arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.</p>\n<p>Because ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.</p>\n<p>The degree of success Intel finds as its&nbsp;planned&nbsp;foundries come online is another factor that should be weighed.</p>\n<p>A development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.</p>\n<p>On the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.</p>\n<p>While AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.</p>\n<p>However, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.</p>\n<p>With that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.</p>\n<p>I also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.</p>\n<p>I rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.</p>\n<p>For additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA&nbsp;contributor&nbsp;Keyanoush Razavidinani.</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>AMD, Intel, And Nvidia: Which Is The Best Chip Stock?</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\">\nAMD, Intel, And Nvidia: Which Is The Best Chip Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-15 10:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.\nAMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips ...</p>\n\n<a href=\"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/dad74e350b9b09d45929989f896aaa9d","relate_stocks":{"NVDA":"英伟达","AMD":"美国超微公司","INTC":"英特尔"},"source_url":"https://seekingalpha.com/article/4448637-amd-intel-nvidia-best-chip-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138705612","content_text":"Summary\n\nAMD's recent CPU and GPU offerings have been more competitive with Intel and NVIDIA's products.\nAMD’s EPYC server chips have proved to be comparable or even superior to certain Intel chips and have led to AMD gaining server CPU market share.\nEven so, Intel is the leader in the processor market and holds long-term advantages over AMD in R&D, marketing, and pricing.\nNvidia is ahead of AMD in GPU technology and is leveraging its GPUs into adjacent end markets such as artificial intelligence.\n\nAndy/iStock via Getty Images\nIntel (INTC) was once the microchip industry equivalent of the Colossus of Rhodes, a monument to the power of Moore’s law. However, the firm stumbled with its 10-nanometer process, and recently announced its 7-nm process will be delayed until 2023.\nThis left the door open to Advanced Micro Devices Inc. (AMD), and that firm has taken full advantage of the opportunity. AMD has taken a large share of the CPU market and is making inroads into the once nearly impenetrable server market.\nAMD now has seven consecutive quarters of double-digit revenue growth under its belt, and it appears the firm is gaining momentum: management now guides for 60% revenue growth for the full year, up from the 50% forecast provided in the previous quarter.\nHowever, AMD also competes with NVIDIA Corporation (NVDA), and the latter company’s GPU technology is stealing market share. NVDA has also been successful in gaining access to adjacent markets with its GPUs, especially AI and automotive markets.\nThe Ins And Outs of Intel\nAn understanding of Intel also provides insights into AMD. This is due to the overlap between the two companies, particularly in regards to x86 chips. Intel developed the x86 chip in 1978. To satisfy demands by IBM that Intel would not be the sole supplier of the chips, INTC provided x86 instruction set architecture licensing to AMD.\nConsequently, Intel and AMD have a duopoly position in the PC and server markets, as nearly all computer software is written for x86 architecture. The result is that both have a wide moat related to the x86 ecosystem.\nGaming consoles in particular are based on x86 architecture due to those platforms generally providing more powerful CPUs and GPUs with multiple compute cores. Like PCs, consoles operate with games that use x86 based software. Once again, this stifles potential competition from ARM-based devices.\nUntil fairly recently, AMD was a distant second to INTC as a supplier of x86 chips. However, AMD teamed with Taiwan Semiconductor(NYSE:TSM)to use that manufacturer’s 7nm process to surpass INTC in process technology. Combined with AMD’s developing new innovative chip designs, this one-two punch resulted in INTC losing significant market share.\nAt the end of Q1, AMD held 19.30% of the x86 desktop market, a 70 basis point gain year-over-year. In Q2 AMD corralled 8% of the server market, up from a 5% market share in Q4 of 2019.\nDespite these setbacks, it seems premature to view Intel as a moribund business. INTC is one of the largest semiconductor companies in the world. The firm dominates the server market, and still holds 60% of the global x86 CPU market.\nThe company has an enormous R&D budget, and it is expanding into new markets, primarily Artificial Intelligence, Field-Programmable Gate Array chips, and automotive offerings, through its acquisitions of Habana Labs, Altera, Movidius, and Mobileye.\nInvestors should not be swayed by the claim that Intel’s new 10nm chips are inferior to 7nm solely on the basis that 7 is superior to 10. While once used to denote the technology level of a chip design, it has been misused to the point of being useless.\nHowever, there are a number of concerns that must be acknowledged. Intel lags competitors in the smartphone market. As consumers shift to mobile devices, this could result in a sustained headwind as smartphones take the place of PCs. On the other hand, it should be acknowledged that INTC’s server processor business has seen growth associated with the surge in mobile devices and cloud computing.\nIntel also faces increased competition from AMD in the data center space, as well as customers developing their own ARM-based chips for CPUs.\nAn Overview of AMD\nIn years past, INTC held the lion’s share of the x86 market. This was due in part to Intel’s leading-edge manufacturing combined with AMD’s wafer supply agreements with less than stellar GlobalFoundries.\nHowever, a seismic shift occurred due to three factors: driven by innovative designs, AMD brought competitive products to market, AMD shifted to TSMC for production, and Intel faced repeated manufacturing delays. The two charts below document the progress the company has made.\nSource:Q2 Earnings Presentation\nSource:Q2 Earnings Presentation\nLike Intel, AMD’s primary products are CPUs and GPUs. AMD’s chips are designed for PCs, game consoles, servers, and blockchain applications. And like INTC, AMD’s offerings are largely protected from competition due to the preponderance of software for PCs and servers being designed for x86 architecture.\nAMD’s strong growth has largely come at the expense of Intel as AMD has steadily chipped away at the former company’s CPU market share.\nSource:Seeking Alpha\nAMD’s focus on CPU and GPU semi-custom processor applications has resulted in their use in Microsoft Xbox and Sony PlayStation game consoles.\nIn regards to PC integrated GPUs, AMD is roughly in parity with NVIDIA while INTC dominates with roughly 68% of the market.\nSource:tom'sHARDWARE\nHowever, NVIDIA dominates the discrete GPU space with an 80% plus market share with AMD sweeping up what is left. NVIDIA’s discrete GPUs are arguably superior to AMD’s (more on that later); therefore, investors should not look for growth here.\nAlthough AMD’s EPYC server CPU products were competitive with that of rivals, initially the company relied on aggressive pricing to promote its first generation of EPYC offerings. However, the EPYC line has gained wider acceptance, and with the Milan processors, the company is gaining market share. As server CPUs provide a better profit margin than the company’s other products, expansion into that space should aid in driving revenue.\nLate last year,AMD entered intoa deal to acquire Xilinx (XLNX), a leader in field programmable gate array (FPGA) chips. FPGAs can be used for a wide variety of applications. Because shifting to a competing FPGA provider requires retraining of engineers in software and design tools, customers are loath to make a switch to a competing vendor. Consequently, if the Xilinx deal goes through, AMD will have acquired a wide moat business. Management guides for operational efficiencies of approximately $300 million within 18 months of closing the transaction.\nThe Xilinx acquisition should bolster AMD’s data center and artificial intelligence businesses.\nAMD agreed to acquire Xilinx for $35 billion in an all-stock transaction.\nA Survey of NVIDIA\nNVDA's focus on the graphics processing units market has led the company to a dominant position in the discrete GPU space. The firm is the leader in discrete GPUs for computing platforms, especially gaming consoles. The fact that Intel licensed intellectual property from NVIDIA to integrate GPUs into its PC chipset testifies to the lead the company maintains.\nThe chart below provides a record of the burgeoning ASP the company has been able to command over the last half decade, beginning with the Pascal architecture in 2016, and progressing through Turing to Ampere.\nSource:AMD Investor Presentation\nThe firm’s chips are also found in many high-end PCs, and NVDA has particular strength in the incipient AI and self-driving vehicle markets.\nGPUs are being teamed with CPUs to enhance computation workloads. This stratagem is designed to bolster the ability of AI systems to perform computationally intensive tasks. AI related to autonomous vehicles is a developing strength for NVIDIA. Another arena in which the firm is making its mark is in cloud\nAI and data centers pose the most likely avenue of growth for NVDA. To strengthen its position in both businesses, the company moved last year to acquire ARM Holdings (ARMHF) from parent company Softbank for $40 billion.\nARM is the globe’s largest licensor of chip designs. Its chips are ubiquitous and can be found in mobile phones, smart TVs, and tablet computers. 160 billion chips have been made using ARM designs.\nPerhaps of equal importance is that 13 million developers work with ARM devices. To place that in context, NVDA has 2 million developers working on its array of devices.\nUnfortunately for investors, bothChinaand theU.K.are reportedly balking at approving the deal.\nHead-To-Head Comparisons\nValuation Metrics\nThe following chart provides a variety of metrics related to each stock's valuation. All data labeled forward is analysts’ next fiscal year consensus estimate.\nSource:Seeking Alpha Premium/ chart by author\nNext, I’m using a graph to provide PEG ratios for the three companies. As there can be fairly wide variations in PEG ratios due to analysts’ inputs, I prefer that readers have access to multiple sources when I find wide variance in the ratio.\nChart by author\nNote that Seeking Alpha provides a three to five-year PEG, Schwab simply lists its metric as a PEG ratio, while Yahoo! Finance calculates a five-year ratio. This could explain some of the variance in the numbers provided.\nPerusing the first chart, it is obvious that NVDA is the most overvalued. It is also interesting to note that in the current P/E and the forward price/cash flow estimates show AMD as valued near the sector median.\nCount me as an investor that places great emphasis on a stocks PEG Ratio. Viewing the second chart, AMD has the best PEG of the three companies. I also note that analysts from each source calculated AMD’s PEG ratio as better than the sector median.\nDo not misinterpret my findings. While INTC has a lower valuation in many respects, when considering other factors, I rate AMD higher overall. In other words, it is not the cheapest valuation but the best valuation, for lack of a better means to articulate my view.\n=Advantage AMD\nAnalysts’ Price Targets\nNVIDIA shares currently trade for $202.95. The average 12-month price target of 33 analysts is $186.49. The average price target of the 17 analysts that rated the stock following the latest earnings report is $210.53, about 3.7% above the current price of the stock.\nAMD shares currently trade for $107.58. The average 12-month price target of 28 analysts is $108.56. The average price target of the 11 analysts that rated the stock following the latest earnings report is $117.27, roughly 9% above the prevailing share price.\nIntel shares currently trade for $54.05. The average 12-month price target of 34 analysts is $59.86. The average price target of the 16 analysts that rated the stock following the latest earnings report is $58.97, a 9% premium over the current share price.\nInvestors should be aware that it has been nearly three months since NVDA posted quarterly earnings while INTC and AMD reported recently.\n=Tie AMD/INTC\nGrowth Rates\nThe next chart provides data for growth rates. Unless otherwise noted, the metrics reflect analysts' average two-year forecasts.\nSource:Seeking Alpha Premium/ Chart by author\nWhile investors familiar with these three companies would expect INTC to perform poorly in relation to NVDA and AMD in regarding growth, in several cases Intel is projected to experience negative growth rates.\nAdvanced Micro Devices projected growth leads that of NVIDIA in every category, and at times by very wide margins.\n=Advantage AMD\nI considered providing a chart outlining the profitability of each company; however, suffice it to say that each is highly profitable, and that a juxtaposition of the three would result in a tie.\nI often provide a comparison that breaks down dividend metrics, but AMD does not pay a dividend, and NVDA has an anemic yield. INTC currently yields about 2.6%. The dividend is well funded.\nDebt Metrics\nNVIDIA had $12.67 billion in cash and $5.96 billion at the end of the last quarter. Should the ARM acquisition meet approval, the deal is structured so that $21 billion of the $40 billion purchase price will be in stock.\nAMD has restructured its debt resulting in reduced interest costs. AMD had about $3.8 billion in cash and $313 million in long-term debt at the end of the most recent quarter.\nIntel's has solid investment-grade credit ratings. The company held nearly $24.86 billion cash at the end of the last quarter and had $31.7 billion long-term debt.\nAll three firms have strong financial positions. Weighing the possibility that NVDA and AMD may add debt due to prospective acquisitions, I am rating the three firms as equals.\nR&D Budgets\nThis is the first time I have compared the R&D budgets of companies for a head-to-head showdown. However, in the semiconductor industry, that can be of pivotal importance.\nLast fiscal year, Intel devoted over $13.5 billion to R&D, NVDA spent nearly $2.83 billion, and AMD budgeted a bit over $1.9 billion on research and development.\nAMD is at a clear disadvantage, and that weakness is magnified because it often competes against INTC and NVDA in different arenas. It should be noted that a portion of Intel’s R&D is funneled to its foundry business. Nevertheless, it is the clear winner here, and AMD is the obvious loser.\nI should add that NVDA is chipping away at AMD’s share of the discrete GPU market, and I believe that trend will continue, in part due to the disparity in R&D budgets.\n=Advantage INTC\nBottom Line: Which Is The Best Chip Stock?\nTo arrive at an answer, much depends on whether NVIDIA can complete its acquisition of ARM.\nBecause ARM processors are more power and cost-efficient than x86 chips, NVDA could gain market share in the data center space. Since around a third of Intel’s revenue flows from data centers, that could represent a headwind for INTC and a positive for NVDA. However, there is a good chance the deal will fail to close.\nThe degree of success Intel finds as its planned foundries come online is another factor that should be weighed.\nA development to be weighed is that AMD has now reached parity with INTC in the PC market in terms of the quality of its products. Furthermore, AMD is gaining market share in the server market, and I expect that trend to continue.\nOn the other hand, AMD is losing share in the discrete GPU market to NVDA. NVDA has a technological lead in that space which will probably continue.\nWhile AMD and NVDA are seen as growth machines, one should not ignore that Intel’s Internet of Things business increased by 47% in the last quarter. Mobileye also saw a surge in growth with revenue increasing 124%. Although these businesses only totaled $1.3 billion in revenue, a fraction of Intel's total revenue of $18.5 billion, they still represent areas of high growth.\nHowever, note the header refers to “chip stock.” Consequently, technological advantages are but one part of the puzzle. Any investment decision must take current valuations and prospective growth rates into account.\nWith that in mind, I must rate NVIDIA as a HOLD due to current valuation and growth estimates. Note my rating is based on the current valuation of the stock. I acknowledge the exemplary leadership of the company and believe the long-term prospect for the stock is excellent.\nI also rate INTC as a HOLD. I previously rated the company as a buy. While I still believe the firm will serve long-term investors well, I now believe its recovery will unfold over a long time span, and better opportunities are available.\nI rate AMD as a BUY. This is based on the current valuations and growth rates outlined in this article. I’ll add that those metrics are buttressed by my perception that as Intel works on its recovery, AMD is likely to chip away at market share.\nFor additional insights into the technological aspects of an investment in AMD and INTC, I recommend an excellent article by SA contributor Keyanoush Razavidinani.","news_type":1},"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":879940829,"gmtCreate":1636678714942,"gmtModify":1636678715600,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/532.SI\">$DISA LIMITED(532.SI)$</a>&nbsp;from june till now, no movement at all... Everyday 0.01 - 0.02... Can't close it also... Money kena stuck inside here with no earning...","listText":"<a href=\"https://laohu8.com/S/532.SI\">$DISA LIMITED(532.SI)$</a>&nbsp;from june till now, no movement at all... Everyday 0.01 - 0.02... Can't close it also... Money kena stuck inside here with no earning...","text":"$DISA LIMITED(532.SI)$ from june till now, no movement at all... Everyday 0.01 - 0.02... Can't close it also... Money kena stuck inside here with no earning...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":1,"link":"https://laohu8.com/post/879940829","isVote":1,"tweetType":1,"viewCount":988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":892556986,"gmtCreate":1628675672845,"gmtModify":1633745210436,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[龇牙]&nbsp;[龇牙]&nbsp;[龇牙]&nbsp;[龇牙]&nbsp;","listText":"[龇牙]&nbsp;[龇牙]&nbsp;[龇牙]&nbsp;[龇牙]&nbsp;","text":"[龇牙] [龇牙] [龇牙] [龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/892556986","repostId":"2158928543","repostType":4,"repost":{"id":"2158928543","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":1628675417,"share":"https://www.laohu8.com/m/news/2158928543?lang=&edition=full","pubTime":"2021-08-11 17:50","market":"us","language":"en","title":"ThredUp Reports Better-Than-Expected Q2 Earnings, Upbeat Outlook","url":"https://stock-news.laohu8.com/highlight/detail?id=2158928543","media":"Benzinga","summary":"\n","content":"<ul>\n <li><b>ThredUp Inc</b>&nbsp;(NASDAQ:TDUP)&nbsp;reported second-quarter FY21 revenue growth of 26.7%&nbsp;year-on-year, to $59.96 million, beating the analyst consensus of $54.31 million.</li>\n <li>The consignment revenue increased 39.2% Y/Y, and product revenue fell 8.5%.</li>\n <li>Active Buyers grew 8% Y/Y to 1.34 million, and Orders improved 22% to 1.22 million.</li>\n <li>Gross profit increased 33.7% Y/Y to $44.1 million with a 390 basis points expansion in profit margin to 73.6%.</li>\n <li>The operating loss widened to $(13.9) million. The Adjusted EBITDA loss was $(9) million.</li>\n <li>The company held $173.1 million in cash and equivalents as of June 30, 2021.</li>\n <li>Loss per share of $(0.15) beat the analyst consensus of $(0.17).</li>\n <li><b>Outlook</b>: ThredUp sees Q3 sales of $60 million - $62 million, versus the consensus of $57.36 million.</li>\n <li>The company expects FY21 sales of $236 million - $241 million (prior $223 million - $229 million), versus the consensus of $226.35 million.</li>\n <li><b>Price Action:</b>&nbsp;TDUP shares closed lower by 6.66% at $21.43 on Tuesday.</li>\n</ul>","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>ThredUp Reports Better-Than-Expected Q2 Earnings, Upbeat Outlook</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\">\nThredUp Reports Better-Than-Expected Q2 Earnings, Upbeat Outlook\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\">2021-08-11 17:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><b>ThredUp Inc</b>&nbsp;(NASDAQ:TDUP)&nbsp;reported second-quarter FY21 revenue growth of 26.7%&nbsp;year-on-year, to $59.96 million, beating the analyst consensus of $54.31 million.</li>\n <li>The consignment revenue increased 39.2% Y/Y, and product revenue fell 8.5%.</li>\n <li>Active Buyers grew 8% Y/Y to 1.34 million, and Orders improved 22% to 1.22 million.</li>\n <li>Gross profit increased 33.7% Y/Y to $44.1 million with a 390 basis points expansion in profit margin to 73.6%.</li>\n <li>The operating loss widened to $(13.9) million. The Adjusted EBITDA loss was $(9) million.</li>\n <li>The company held $173.1 million in cash and equivalents as of June 30, 2021.</li>\n <li>Loss per share of $(0.15) beat the analyst consensus of $(0.17).</li>\n <li><b>Outlook</b>: ThredUp sees Q3 sales of $60 million - $62 million, versus the consensus of $57.36 million.</li>\n <li>The company expects FY21 sales of $236 million - $241 million (prior $223 million - $229 million), versus the consensus of $226.35 million.</li>\n <li><b>Price Action:</b>&nbsp;TDUP shares closed lower by 6.66% at $21.43 on Tuesday.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TDUP":"ThredUp Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2158928543","content_text":"ThredUp Inc (NASDAQ:TDUP) reported second-quarter FY21 revenue growth of 26.7% year-on-year, to $59.96 million, beating the analyst consensus of $54.31 million.\nThe consignment revenue increased 39.2% Y/Y, and product revenue fell 8.5%.\nActive Buyers grew 8% Y/Y to 1.34 million, and Orders improved 22% to 1.22 million.\nGross profit increased 33.7% Y/Y to $44.1 million with a 390 basis points expansion in profit margin to 73.6%.\nThe operating loss widened to $(13.9) million. The Adjusted EBITDA loss was $(9) million.\nThe company held $173.1 million in cash and equivalents as of June 30, 2021.\nLoss per share of $(0.15) beat the analyst consensus of $(0.17).\nOutlook: ThredUp sees Q3 sales of $60 million - $62 million, versus the consensus of $57.36 million.\nThe company expects FY21 sales of $236 million - $241 million (prior $223 million - $229 million), versus the consensus of $226.35 million.\nPrice Action: TDUP shares closed lower by 6.66% at $21.43 on Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":614610091,"gmtCreate":1653542632015,"gmtModify":1704857477135,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp;&nbsp; well, i believe on singapore!&nbsp;","listText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp;&nbsp; well, i believe on singapore!&nbsp;","text":"$GENTING SINGAPORE LIMITED(G13.SI)$ well, i believe on singapore!","images":[{"img":"https://static.tigerbbs.com/44926a633b21ea3b8b6bf19ef8db993e","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/614610091","isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":888153456,"gmtCreate":1631461078275,"gmtModify":1631888333262,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/888153456","repostId":"1189654544","repostType":4,"repost":{"id":"1189654544","pubTimestamp":1631406130,"share":"https://www.laohu8.com/m/news/1189654544?lang=&edition=full","pubTime":"2021-09-12 08:22","market":"us","language":"en","title":"US IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1189654544","media":"Renaissance Capital","summary":"After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion i","content":"<p>After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.</p>\n<p>Tech consultancy&nbsp;<b>Thoughtworks</b>(TWKS) plans to raise $700 million at a $6.3 billion market cap. This agile software developer provides premium, end-to-end digital strategy, design, and engineering services to more than 300 enterprise customers. The company grew revenue at a 14% CAGR from 2017 to 2020, and expanded margins in 2020 and the 1H21.</p>\n<p>Swiss running shoe brand&nbsp;<b>On Holding</b>(ONON) plans to raise $591 million at a $5.9 billion market cap. On is a global provider of premium athletic footwear, apparel, and accessories that are designed using sustainable materials and its proprietary technology. The company has demonstrated growth and profitability, though it faces significant competition from other well-known sportswear brands.</p>\n<p>After ending talks to go public via SPAC,<b>Sportradar Group</b>(SRAD) plans to raise $504 million at a $7.9 billion market cap. Covering over 750,000 events annually across 83 sports, this Swiss company provides software, data, and content to sports leagues, betting operators, and media companies. Sportradar is profitable, and growth accelerated in the 1H21 as live sports resumed.</p>\n<p>Drive-thru coffee chain&nbsp;<b>Dutch Bros</b>(BROS) plans to raise $400 million at a $3.3 billion market cap. This Oregon-based company has a chain of 471 drive-thru coffee shops in the Western US, and it has been able to maintain a track record of same-store sales growth as it has expanded to new states. Insiders received pre-IPO dividends and will sell shares back to the company.</p>\n<p>Healthcare intelligence platform&nbsp;<b>Definitive Healthcare</b>(DH) plans to raise $350 million at a $3.3 billion market cap. This company provides a healthcare commercial intelligence and analytics platform, helping its customers to analyze, navigate, and sell into the complex healthcare ecosystem. Unprofitable with strong growth, Definitive Healthcare will be leveraged post-IPO.</p>\n<p>Identity management platform&nbsp;<b>ForgeRock</b>(FORG) plans to raise $248 million at a $2.1 billion market cap. The company provides identity and access management software, with a platform to provision, authenticate, and govern all types of digital identities. Unprofitable with high sales and marketing expenses, ForgeRock is a leading next-gen provider in the multi-billion-dollar identity and access market.</p>\n<p>Immunology biotech&nbsp;<b>DICE Therapeutics</b>(DICE) plans to raise $160 million at a $550 million market cap. This biotech is developing oral small molecule therapies to treat chronic diseases in immunology and other therapeutic areas. DICE plans to initiate a Phase 1 trial of its lead candidate S011806, an oral antagonist with a variety of immunology indications.</p>\n<p>Surgical robotics developer&nbsp;<b>PROCEPT BioRobotics</b>(PRCT) plans to raise $127 million at a $1.1 billion market cap. This commercial-stage company develops surgical robotic systems for minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia. PROCEPT BioRobotics is highly unprofitable and saw revenue increase more than sixfold in the 1H21.</p>\n<p>Oncology biotech&nbsp;<b>Tyra Biosciences</b>(TYRA) plans to raise $101 million at a $584 million market cap. This preclinical biotech is developing FGFR kinase inhibitors for cancer, specifically solid tumors. Tyra’s lead candidate is initially focused on bladder cancer, and the company expects to submit an IND for it in mid-2022.</p>\n<p>Micro-cap gas delivery service&nbsp;<b>EzFill Holdings</b>(EZFL) plans to raise $25 million at a $104 million market cap. This mobile-fueling company provides an on-demand fuel delivery service in Florida via mobile app. Highly unprofitable with explosive growth, EzFill states that it is the dominant player in the South Florida market.</p>\n<p><img src=\"https://static.tigerbbs.com/718698ff98644c4026f32efe91d076c6\" tg-width=\"1128\" tg-height=\"684\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/97fe13300d9e4cf61effc59b9706776a\" tg-width=\"1129\" tg-height=\"247\" referrerpolicy=\"no-referrer\"></p>\n<p><b>IPO Market Snapshot</b></p>\n<p>The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/9/21, the Renaissance IPO Index was up 7.7% year-to-date, while the S&amp;P 500 was up 19.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 11.0% year-to-date, while the ACWX was up 10.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.</p>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-12 08:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.\nTech consultancy Thoughtworks(TWKS) plans to raise $700 million at a $6.3 billion ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWKS":"Thoughtworks Holding Inc.",".DJI":"道琼斯","DH":"Definitive Healthcare Corp.","PRCT":"PROCEPT BioRobotics","SRAD":"Sportradar Group AG","EZFL":"EzFill Holdings Inc","BROS":"Dutch Bros Inc.",".IXIC":"NASDAQ Composite","DICE":"DICE Therapeutics, Inc.",".SPX":"S&P 500 Index","TYRA":"Tyra Biosciences, Inc.","FORG":"ForgeRock, Inc.","ONON":"On Holding AG"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189654544","content_text":"After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.\nTech consultancy Thoughtworks(TWKS) plans to raise $700 million at a $6.3 billion market cap. This agile software developer provides premium, end-to-end digital strategy, design, and engineering services to more than 300 enterprise customers. The company grew revenue at a 14% CAGR from 2017 to 2020, and expanded margins in 2020 and the 1H21.\nSwiss running shoe brand On Holding(ONON) plans to raise $591 million at a $5.9 billion market cap. On is a global provider of premium athletic footwear, apparel, and accessories that are designed using sustainable materials and its proprietary technology. The company has demonstrated growth and profitability, though it faces significant competition from other well-known sportswear brands.\nAfter ending talks to go public via SPAC,Sportradar Group(SRAD) plans to raise $504 million at a $7.9 billion market cap. Covering over 750,000 events annually across 83 sports, this Swiss company provides software, data, and content to sports leagues, betting operators, and media companies. Sportradar is profitable, and growth accelerated in the 1H21 as live sports resumed.\nDrive-thru coffee chain Dutch Bros(BROS) plans to raise $400 million at a $3.3 billion market cap. This Oregon-based company has a chain of 471 drive-thru coffee shops in the Western US, and it has been able to maintain a track record of same-store sales growth as it has expanded to new states. Insiders received pre-IPO dividends and will sell shares back to the company.\nHealthcare intelligence platform Definitive Healthcare(DH) plans to raise $350 million at a $3.3 billion market cap. This company provides a healthcare commercial intelligence and analytics platform, helping its customers to analyze, navigate, and sell into the complex healthcare ecosystem. Unprofitable with strong growth, Definitive Healthcare will be leveraged post-IPO.\nIdentity management platform ForgeRock(FORG) plans to raise $248 million at a $2.1 billion market cap. The company provides identity and access management software, with a platform to provision, authenticate, and govern all types of digital identities. Unprofitable with high sales and marketing expenses, ForgeRock is a leading next-gen provider in the multi-billion-dollar identity and access market.\nImmunology biotech DICE Therapeutics(DICE) plans to raise $160 million at a $550 million market cap. This biotech is developing oral small molecule therapies to treat chronic diseases in immunology and other therapeutic areas. DICE plans to initiate a Phase 1 trial of its lead candidate S011806, an oral antagonist with a variety of immunology indications.\nSurgical robotics developer PROCEPT BioRobotics(PRCT) plans to raise $127 million at a $1.1 billion market cap. This commercial-stage company develops surgical robotic systems for minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia. PROCEPT BioRobotics is highly unprofitable and saw revenue increase more than sixfold in the 1H21.\nOncology biotech Tyra Biosciences(TYRA) plans to raise $101 million at a $584 million market cap. This preclinical biotech is developing FGFR kinase inhibitors for cancer, specifically solid tumors. Tyra’s lead candidate is initially focused on bladder cancer, and the company expects to submit an IND for it in mid-2022.\nMicro-cap gas delivery service EzFill Holdings(EZFL) plans to raise $25 million at a $104 million market cap. This mobile-fueling company provides an on-demand fuel delivery service in Florida via mobile app. Highly unprofitable with explosive growth, EzFill states that it is the dominant player in the South Florida market.\n\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/9/21, the Renaissance IPO Index was up 7.7% year-to-date, while the S&P 500 was up 19.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 11.0% year-to-date, while the ACWX was up 10.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.","news_type":1},"isVote":1,"tweetType":1,"viewCount":386,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":812998829,"gmtCreate":1630545037961,"gmtModify":1631891228996,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/812998829","repostId":"2164481914","repostType":4,"repost":{"id":"2164481914","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1630529217,"share":"https://www.laohu8.com/m/news/2164481914?lang=&edition=full","pubTime":"2021-09-02 04:46","market":"us","language":"en","title":"Tech stocks send Nasdaq to fresh record close, boost S&P","url":"https://stock-news.laohu8.com/highlight/detail?id=2164481914","media":"Reuters","summary":"Gains for tech stocks, utilities and real estate.\nAugust private jobs growth misses expectations.\nIn","content":"<ul>\n <li>Gains for tech stocks, utilities and real estate.</li>\n <li>August private jobs growth misses expectations.</li>\n <li>Indexes: Dow falls 0.14%, S&amp;P up 0.03%, Nasdaq rises 0.33%.</li>\n</ul>\n<p>Sept 1 (Reuters) - The Nasdaq closed Wednesday at a record high, and the S&amp;P 500 rose but just missed a fresh peak, as September kicked off with renewed buying of technology stocks and private payrolls data, which supported the case for dovish monetary policy.</p>\n<p>Technology stocks , which tend to benefit from a low-rate environment, finished higher. Apple Inc rose 0.4% to its second-highest close, and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc , Amazon.com Inc and Google-owner Alphabet Inc all advanced between 0.2% and 0.7%.</p>\n<p>Utilities and real estate - sectors considered as bond-proxies or defensive - were the top performers.</p>\n<p>\"Given there's going to be some choppiness in the economic recovery because of COVID, people will look for where they can find the best future growth potential,\" said Chris Graff, co-chief investment officer at RMB Capital.</p>\n<p>Wall Street's main indexes have hit record highs recently, with the benchmark S&amp;P 500 notching seven straight monthly gains as investors shrugged off risks around a rise in new coronavirus infections and hoped for the Fed to remain dovish in its policy stance.</p>\n<p>Each new data release though is viewed by investors through the prism of whether it could push the Fed to taper sooner rather than later.</p>\n<p>A report by ADP, published ahead of the U.S. government's more comprehensive employment report on Friday, showed private employers hired far fewer workers than expected in August.</p>\n<p>Another set of data on Wednesday showed U.S. manufacturing activity unexpectedly picked up in August amid strong order growth, but a measure of factory employment dropped to a nine-month low, likely as workers remained scarce.</p>\n<p>\"We've got the jobs report on Friday, but what's become more important is the job openings report next week and the CPI release after that, so a lot about employment and inflation in the next couple of weeks which will reset people's expectations for tapering and interest rates,\" Graff added.</p>\n<p>The Dow Jones Industrial Average fell 48.2 points, or 0.14%, to 35,312.53, the S&amp;P 500 gained 1.41 points, or 0.03%, to 4,524.09 and the Nasdaq Composite added 50.15 points, or 0.33%, to 15,309.38.</p>\n<p>Falling 1.5% on the day, and down for the third straight session, was the energy index.</p>\n<p>Crude prices were flat after OPEC and its allies agreed to stick to their existing policy of gradual output increases. However, the full extent of damage to U.S. energy infrastructure from Hurricane Ida is still being established&nbsp;More than 80% of oil and gas production in the Gulf of Mexico remains offline, while analysts have warned that restarting Louisiana refineries shut by the storm could take weeks and cost operators tens of millions of dollars in lost revenue.</p>\n<p><a href=\"https://laohu8.com/S/PBF\">PBF Energy</a> Inc , whose 190,000 barrel-per-day Chalmette, Louisiana, refinery lost power following the storm, slumped 6.8% on Wednesday, taking its losses this week to 11.2%.</p>\n<p>Volume on U.S. exchanges was 9.81 billion shares, compared with the 8.99 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 55 new 52-week highs and no new lows; the Nasdaq Composite recorded 131 new highs and 17 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</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>Tech stocks send Nasdaq to fresh record close, boost S&P</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\">\nTech stocks send Nasdaq to fresh record close, boost S&P\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-09-02 04:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Gains for tech stocks, utilities and real estate.</li>\n <li>August private jobs growth misses expectations.</li>\n <li>Indexes: Dow falls 0.14%, S&amp;P up 0.03%, Nasdaq rises 0.33%.</li>\n</ul>\n<p>Sept 1 (Reuters) - The Nasdaq closed Wednesday at a record high, and the S&amp;P 500 rose but just missed a fresh peak, as September kicked off with renewed buying of technology stocks and private payrolls data, which supported the case for dovish monetary policy.</p>\n<p>Technology stocks , which tend to benefit from a low-rate environment, finished higher. Apple Inc rose 0.4% to its second-highest close, and <a href=\"https://laohu8.com/S/FB\">Facebook</a> Inc , Amazon.com Inc and Google-owner Alphabet Inc all advanced between 0.2% and 0.7%.</p>\n<p>Utilities and real estate - sectors considered as bond-proxies or defensive - were the top performers.</p>\n<p>\"Given there's going to be some choppiness in the economic recovery because of COVID, people will look for where they can find the best future growth potential,\" said Chris Graff, co-chief investment officer at RMB Capital.</p>\n<p>Wall Street's main indexes have hit record highs recently, with the benchmark S&amp;P 500 notching seven straight monthly gains as investors shrugged off risks around a rise in new coronavirus infections and hoped for the Fed to remain dovish in its policy stance.</p>\n<p>Each new data release though is viewed by investors through the prism of whether it could push the Fed to taper sooner rather than later.</p>\n<p>A report by ADP, published ahead of the U.S. government's more comprehensive employment report on Friday, showed private employers hired far fewer workers than expected in August.</p>\n<p>Another set of data on Wednesday showed U.S. manufacturing activity unexpectedly picked up in August amid strong order growth, but a measure of factory employment dropped to a nine-month low, likely as workers remained scarce.</p>\n<p>\"We've got the jobs report on Friday, but what's become more important is the job openings report next week and the CPI release after that, so a lot about employment and inflation in the next couple of weeks which will reset people's expectations for tapering and interest rates,\" Graff added.</p>\n<p>The Dow Jones Industrial Average fell 48.2 points, or 0.14%, to 35,312.53, the S&amp;P 500 gained 1.41 points, or 0.03%, to 4,524.09 and the Nasdaq Composite added 50.15 points, or 0.33%, to 15,309.38.</p>\n<p>Falling 1.5% on the day, and down for the third straight session, was the energy index.</p>\n<p>Crude prices were flat after OPEC and its allies agreed to stick to their existing policy of gradual output increases. However, the full extent of damage to U.S. energy infrastructure from Hurricane Ida is still being established&nbsp;More than 80% of oil and gas production in the Gulf of Mexico remains offline, while analysts have warned that restarting Louisiana refineries shut by the storm could take weeks and cost operators tens of millions of dollars in lost revenue.</p>\n<p><a href=\"https://laohu8.com/S/PBF\">PBF Energy</a> Inc , whose 190,000 barrel-per-day Chalmette, Louisiana, refinery lost power following the storm, slumped 6.8% on Wednesday, taking its losses this week to 11.2%.</p>\n<p>Volume on U.S. exchanges was 9.81 billion shares, compared with the 8.99 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 55 new 52-week highs and no new lows; the Nasdaq Composite recorded 131 new highs and 17 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164481914","content_text":"Gains for tech stocks, utilities and real estate.\nAugust private jobs growth misses expectations.\nIndexes: Dow falls 0.14%, S&P up 0.03%, Nasdaq rises 0.33%.\n\nSept 1 (Reuters) - The Nasdaq closed Wednesday at a record high, and the S&P 500 rose but just missed a fresh peak, as September kicked off with renewed buying of technology stocks and private payrolls data, which supported the case for dovish monetary policy.\nTechnology stocks , which tend to benefit from a low-rate environment, finished higher. Apple Inc rose 0.4% to its second-highest close, and Facebook Inc , Amazon.com Inc and Google-owner Alphabet Inc all advanced between 0.2% and 0.7%.\nUtilities and real estate - sectors considered as bond-proxies or defensive - were the top performers.\n\"Given there's going to be some choppiness in the economic recovery because of COVID, people will look for where they can find the best future growth potential,\" said Chris Graff, co-chief investment officer at RMB Capital.\nWall Street's main indexes have hit record highs recently, with the benchmark S&P 500 notching seven straight monthly gains as investors shrugged off risks around a rise in new coronavirus infections and hoped for the Fed to remain dovish in its policy stance.\nEach new data release though is viewed by investors through the prism of whether it could push the Fed to taper sooner rather than later.\nA report by ADP, published ahead of the U.S. government's more comprehensive employment report on Friday, showed private employers hired far fewer workers than expected in August.\nAnother set of data on Wednesday showed U.S. manufacturing activity unexpectedly picked up in August amid strong order growth, but a measure of factory employment dropped to a nine-month low, likely as workers remained scarce.\n\"We've got the jobs report on Friday, but what's become more important is the job openings report next week and the CPI release after that, so a lot about employment and inflation in the next couple of weeks which will reset people's expectations for tapering and interest rates,\" Graff added.\nThe Dow Jones Industrial Average fell 48.2 points, or 0.14%, to 35,312.53, the S&P 500 gained 1.41 points, or 0.03%, to 4,524.09 and the Nasdaq Composite added 50.15 points, or 0.33%, to 15,309.38.\nFalling 1.5% on the day, and down for the third straight session, was the energy index.\nCrude prices were flat after OPEC and its allies agreed to stick to their existing policy of gradual output increases. However, the full extent of damage to U.S. energy infrastructure from Hurricane Ida is still being established More than 80% of oil and gas production in the Gulf of Mexico remains offline, while analysts have warned that restarting Louisiana refineries shut by the storm could take weeks and cost operators tens of millions of dollars in lost revenue.\nPBF Energy Inc , whose 190,000 barrel-per-day Chalmette, Louisiana, refinery lost power following the storm, slumped 6.8% on Wednesday, taking its losses this week to 11.2%.\nVolume on U.S. exchanges was 9.81 billion shares, compared with the 8.99 billion average for the full session over the last 20 trading days.\nThe S&P 500 posted 55 new 52-week highs and no new lows; the Nasdaq Composite recorded 131 new highs and 17 new lows.\n(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)","news_type":1},"isVote":1,"tweetType":1,"viewCount":207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":898224233,"gmtCreate":1628503247522,"gmtModify":1631884042194,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp;HAPPY NATIONAL DAY SINGAPORE!!!&nbsp;[爱你]&nbsp;[爱你]&nbsp;[爱你]&nbsp;&nbsp;","listText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp;HAPPY NATIONAL DAY SINGAPORE!!!&nbsp;[爱你]&nbsp;[爱你]&nbsp;[爱你]&nbsp;&nbsp;","text":"$GENTING SINGAPORE LIMITED(G13.SI)$ HAPPY NATIONAL DAY SINGAPORE!!! [爱你] [爱你] [爱你]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/898224233","isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699066029,"gmtCreate":1639724262921,"gmtModify":1639724263259,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Daily mission, like pls thanks","listText":"Daily mission, like pls thanks","text":"Daily mission, like pls thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/699066029","repostId":"1108936663","repostType":4,"repost":{"id":"1108936663","pubTimestamp":1639723361,"share":"https://www.laohu8.com/m/news/1108936663?lang=&edition=full","pubTime":"2021-12-17 14:42","market":"us","language":"en","title":"Uber: Ugly Duckling Is Growing Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1108936663","media":"Seeking Alpha","summary":"Summary\n\nUber's delivery business is booming and expanding resulting in the company leveraging econo","content":"<p><b>Summary</b></p>\n<ul>\n <li>Uber's delivery business is booming and expanding resulting in the company leveraging economies of scale to reach profitability.</li>\n <li>Mobility business is fast recovering from the pandemic as the economies reopen.</li>\n <li>Future lockdowns and covid restrictions that were seen before are not likely.</li>\n <li>Therefore, Uber may be the ugly duckling waiting to become a swan.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/44b93f3ad8b1091da22c151e759153e2\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>MOZCO Mateusz Szymanski/iStock Editorial via Getty Images</span></p>\n<p><b>Introduction and Thesis</b></p>\n<p>I am starting to believe that Uber's(NYSE:UBER)story is unfolding like the story of the ugly duckling. In the early days of going public, Uber suffered ignorance and unfavorable views from the investing community just like the ugly duckling, but today, I believe Uber is just around the corner from blossoming into a beautiful and successful swan.</p>\n<p>Uber's business is turning around as the underlying trend forms in favor of the company. From the depths of the pandemic to the pace of recovery seen today, the world changed for good, at least for Uber. One of those changes is food delivery. During the pandemic, consumers could not comfortably leave their houses and dine out resulting in those consumers turning to food delivery permanently growing a business that has been the primary reason for Uber's continuous losses. Thus, as the trend of food delivery continues to grow from the pandemic, Uber's business through economies of scale has been enjoying the favorable trend, and I believe that the convenience of food delivery will allow permanent penetration of delivery in our daily lives. Further, as mobility recovers as well from the pandemic in all aspects, Uber is likely to report a profitable 2022 fiscal year. Although there are risks of dilution,Covid and macroeconomic risks, I believe now is finally the time to consider investing in the ugly duckling.</p>\n<p><b>Favorable Trend</b></p>\n<p>Pandemic brought devastation across nearly all industries and aspects of our lives; however, for Uber, I believe pandemic turned out to be beneficial for the company. Uber's major businesses are delivery and mobility. Before the pandemic, while the mobility business was starting to report positive adjusted EBTIDA, the delivery business continued to struggle. The market was relatively smaller and competitive leading to Uber spending immense amounts of capital on sales, marketing, and development. Even worse, the economies of scale were not seen at the time. However, times have changed for the delivery business. First, the food delivery industry exploded in popularity. For example, Uber's delivery business grew almost&nbsp;3 fold&nbsp;from&nbsp;2019Q4. This massive growth in the industry allowed Uber to leverage economies of scale leading to improving bottom lines. Further, the adaption of the delivery culture in the daily lives of the people allowed Uber to expand its business to more than delivering foods. The company is currently delivering groceries, Christmas trees, and even alcoholic beverages. Therefore, as the market continues to mature, Uber can leverage economies of scale to turn around its loss-leading delivery business into a profitable giant.</p>\n<p>Some critics may argue that delivery was only successful because consumers were not comfortable going outside during the pandemic. I would like to argue otherwise. A pandemic may have been the driving factor behind the adaption of the delivery service by the public; however, convenience was what is and will sustain this business model. Through innovation seen in the past decades, we have seen how much consumers care about convenience through the rise of Amazon(NASDAQ:AMZN), Meta Platforms(NASDAQ:FB), and Apple(NASDAQ:AAPL). Why socialize digitally when you can meet others physically? Why order packages online and wait days when you can simply go buy that product today? Why use smartphones when you already had mobile phones? Consumers will never go back to the more inconvenient way of life.</p>\n<p>Unlike the delivery business, the mobility business was damaged by the pandemic, but it is expected that the mobility business will return to 2019 levels as the impact of the pandemic wanes. As the picture below shows, the mobility business in the world's biggest cities has almost returned to normalcy after the lockdown showing that the demand for ride-hailing services is still present. Further, as pandemic subsides and offices re-open, the mobility business will continue to grow.</p>\n<p><img src=\"https://static.tigerbbs.com/e0a5ee8af7dd1261e2686a20efa4d3b9\" tg-width=\"640\" tg-height=\"340\" width=\"100%\" height=\"auto\"></p>\n<p><b>Covid Fears</b></p>\n<p>Although pandemic was the leading cause of the delivery business success, a worsening pandemic will most likely damage my bullish thesis. A mobility business, a business segment set to lead profitability, will be heavily damaged; however, contrary to the mainstream media's opinion, I believe this scenario is unlikely to unfold due to vaccines and public sentiments.</p>\n<p>Pfizer(NYSE:PFE)&nbsp;on December 8th confirmed that theirCovid vaccines are still effective against the Omicron variant. The company said that a preliminary study \"demonstrates that three doses [of the vaccines] neutralize the Omicron variant while two doses show significantly reduced neutralization titers.\" The company's claims are backed by Omicron orCovid outbreak unfolding in many European nations including Italy, France, the UK, and more.</p>\n<p><img src=\"https://static.tigerbbs.com/fe98b474db7223afa7617f0cb8545e42\" tg-width=\"640\" tg-height=\"413\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/8849809f79a66a367009de9b31677d63\" tg-width=\"640\" tg-height=\"400\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/415cdc534da7dc5a6d6f9e754adf099e\" tg-width=\"640\" tg-height=\"388\" width=\"100%\" height=\"auto\"></p>\n<p>Using France as an example, the first picture above shows theCovid cases rising exponentially while the second picture shows the death rate is range-bound. The vaccination rate, shown in the third picture, backs up Pfizer's claim regarding the efficacy of its vaccines because while infections are rising, fatalities are limited due to the vaccines.</p>\n<p>Further, the public's resent for more lockdowns and extreme restrictions are most likely to make Uber's mobility segment of the business more resilient than previous outbreaks.</p>\n<p><b>Financials and Valuation</b></p>\n<p>Uber's balance sheet along with valuation is great. According to&nbsp;Uber's quarterly report, Uber reported revenue growth of 72% year-over-year to $4.8 billion dollars with $8 million positive adjusted EBITDA. After years of losses, the delivery businesses reached a near breakeven level to -0.1% adjusted EBITDA margin. Further, the company's mobility or mobility business had a 5.5% adjusted EBITDA margin, which was on par with the pre-pandemic margins. Overall, the continual improvement of the company's business is resulting in decreasing losses and a stronger balance sheet. Uber has about $5.6 billion in cash and about $33 billion in total assets while the total liabilities were about $20 billion bringing total liability to asset ratio (L/A) to about 60%. All in all, I believe Uber's balance sheet is strong enough to sustain the company's operation given no major changes.</p>\n<p>The valuation of Uber is slightly high. Uber, still unprofitable, trades at about 4.7 times&nbsp;price to&nbsp;sales ratio and about 3 times the forward price to sales ratio. These numbers may seem minimal in comparison with other companies, but because the margin expansion for Uber is questionable, I would say that Uber's valuation today is slightly high. However, as the business turns to reach profitability in the near future, I think the slightly high valuation seen in Uber may be manageable for some investors.</p>\n<p><b>Risks</b></p>\n<p>Investing in Uber comes with significant risks including dilution risks and macroeconomic risks. Uber has been extremely unprofitable for the past years resulting in massive dilution.Uber's outstanding shares increased 12.35% in 2018, 160.62% in 2019, 40.42% in 2020, and 8.2% to date in 2021. As such, to maintain the company's operations, Uber continuously diluted its existing shareholders. Thus, any hurdles to reaching profitability may result in even more dilution in the future. Also, the reason for Uber's financial health today is because of the massive dilution. Further, macroeconomic risks beyond Uber's control may impact the company. Inflation is already at historical highs, and it may continue to stay at these levels resulting in an even faster pace of tapering and rising rates by the Federal Reserve. Therefore, because Uber is still not profitable, raising rates will most likely affect the company negatively.</p>\n<p><b>Summary</b></p>\n<p>No one knows for sure if Uber will blossom into a beautiful swan from an ugly duckling, but today, I am starting to be cautiously bullish on Uber. Pandemic ultimately benefited the company's overall operations leading to a boom in the delivery business, which aided in Uber reaching unit economics. Further, the delivery business is expected to expand as consumers adapt to a more convenient way of life. For the mobility business, there were significant damages; however, as Uber has shown, the mobility business is strongly recovering to 2019 levels as the economies reopen. Therefore, as Uber attempts to turn around its business, I believe investors should worth consider investing in Uber. After all, Uber may blossom into a beautiful swan.</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>Uber: Ugly Duckling Is Growing 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\">\nUber: Ugly Duckling Is Growing Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-17 14:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4475598-uber-ugly-duckling-is-growing-up><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nUber's delivery business is booming and expanding resulting in the company leveraging economies of scale to reach profitability.\nMobility business is fast recovering from the pandemic as the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4475598-uber-ugly-duckling-is-growing-up\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步"},"source_url":"https://seekingalpha.com/article/4475598-uber-ugly-duckling-is-growing-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108936663","content_text":"Summary\n\nUber's delivery business is booming and expanding resulting in the company leveraging economies of scale to reach profitability.\nMobility business is fast recovering from the pandemic as the economies reopen.\nFuture lockdowns and covid restrictions that were seen before are not likely.\nTherefore, Uber may be the ugly duckling waiting to become a swan.\n\nMOZCO Mateusz Szymanski/iStock Editorial via Getty Images\nIntroduction and Thesis\nI am starting to believe that Uber's(NYSE:UBER)story is unfolding like the story of the ugly duckling. In the early days of going public, Uber suffered ignorance and unfavorable views from the investing community just like the ugly duckling, but today, I believe Uber is just around the corner from blossoming into a beautiful and successful swan.\nUber's business is turning around as the underlying trend forms in favor of the company. From the depths of the pandemic to the pace of recovery seen today, the world changed for good, at least for Uber. One of those changes is food delivery. During the pandemic, consumers could not comfortably leave their houses and dine out resulting in those consumers turning to food delivery permanently growing a business that has been the primary reason for Uber's continuous losses. Thus, as the trend of food delivery continues to grow from the pandemic, Uber's business through economies of scale has been enjoying the favorable trend, and I believe that the convenience of food delivery will allow permanent penetration of delivery in our daily lives. Further, as mobility recovers as well from the pandemic in all aspects, Uber is likely to report a profitable 2022 fiscal year. Although there are risks of dilution,Covid and macroeconomic risks, I believe now is finally the time to consider investing in the ugly duckling.\nFavorable Trend\nPandemic brought devastation across nearly all industries and aspects of our lives; however, for Uber, I believe pandemic turned out to be beneficial for the company. Uber's major businesses are delivery and mobility. Before the pandemic, while the mobility business was starting to report positive adjusted EBTIDA, the delivery business continued to struggle. The market was relatively smaller and competitive leading to Uber spending immense amounts of capital on sales, marketing, and development. Even worse, the economies of scale were not seen at the time. However, times have changed for the delivery business. First, the food delivery industry exploded in popularity. For example, Uber's delivery business grew almost 3 fold from 2019Q4. This massive growth in the industry allowed Uber to leverage economies of scale leading to improving bottom lines. Further, the adaption of the delivery culture in the daily lives of the people allowed Uber to expand its business to more than delivering foods. The company is currently delivering groceries, Christmas trees, and even alcoholic beverages. Therefore, as the market continues to mature, Uber can leverage economies of scale to turn around its loss-leading delivery business into a profitable giant.\nSome critics may argue that delivery was only successful because consumers were not comfortable going outside during the pandemic. I would like to argue otherwise. A pandemic may have been the driving factor behind the adaption of the delivery service by the public; however, convenience was what is and will sustain this business model. Through innovation seen in the past decades, we have seen how much consumers care about convenience through the rise of Amazon(NASDAQ:AMZN), Meta Platforms(NASDAQ:FB), and Apple(NASDAQ:AAPL). Why socialize digitally when you can meet others physically? Why order packages online and wait days when you can simply go buy that product today? Why use smartphones when you already had mobile phones? Consumers will never go back to the more inconvenient way of life.\nUnlike the delivery business, the mobility business was damaged by the pandemic, but it is expected that the mobility business will return to 2019 levels as the impact of the pandemic wanes. As the picture below shows, the mobility business in the world's biggest cities has almost returned to normalcy after the lockdown showing that the demand for ride-hailing services is still present. Further, as pandemic subsides and offices re-open, the mobility business will continue to grow.\n\nCovid Fears\nAlthough pandemic was the leading cause of the delivery business success, a worsening pandemic will most likely damage my bullish thesis. A mobility business, a business segment set to lead profitability, will be heavily damaged; however, contrary to the mainstream media's opinion, I believe this scenario is unlikely to unfold due to vaccines and public sentiments.\nPfizer(NYSE:PFE) on December 8th confirmed that theirCovid vaccines are still effective against the Omicron variant. The company said that a preliminary study \"demonstrates that three doses [of the vaccines] neutralize the Omicron variant while two doses show significantly reduced neutralization titers.\" The company's claims are backed by Omicron orCovid outbreak unfolding in many European nations including Italy, France, the UK, and more.\n\nUsing France as an example, the first picture above shows theCovid cases rising exponentially while the second picture shows the death rate is range-bound. The vaccination rate, shown in the third picture, backs up Pfizer's claim regarding the efficacy of its vaccines because while infections are rising, fatalities are limited due to the vaccines.\nFurther, the public's resent for more lockdowns and extreme restrictions are most likely to make Uber's mobility segment of the business more resilient than previous outbreaks.\nFinancials and Valuation\nUber's balance sheet along with valuation is great. According to Uber's quarterly report, Uber reported revenue growth of 72% year-over-year to $4.8 billion dollars with $8 million positive adjusted EBITDA. After years of losses, the delivery businesses reached a near breakeven level to -0.1% adjusted EBITDA margin. Further, the company's mobility or mobility business had a 5.5% adjusted EBITDA margin, which was on par with the pre-pandemic margins. Overall, the continual improvement of the company's business is resulting in decreasing losses and a stronger balance sheet. Uber has about $5.6 billion in cash and about $33 billion in total assets while the total liabilities were about $20 billion bringing total liability to asset ratio (L/A) to about 60%. All in all, I believe Uber's balance sheet is strong enough to sustain the company's operation given no major changes.\nThe valuation of Uber is slightly high. Uber, still unprofitable, trades at about 4.7 times price to sales ratio and about 3 times the forward price to sales ratio. These numbers may seem minimal in comparison with other companies, but because the margin expansion for Uber is questionable, I would say that Uber's valuation today is slightly high. However, as the business turns to reach profitability in the near future, I think the slightly high valuation seen in Uber may be manageable for some investors.\nRisks\nInvesting in Uber comes with significant risks including dilution risks and macroeconomic risks. Uber has been extremely unprofitable for the past years resulting in massive dilution.Uber's outstanding shares increased 12.35% in 2018, 160.62% in 2019, 40.42% in 2020, and 8.2% to date in 2021. As such, to maintain the company's operations, Uber continuously diluted its existing shareholders. Thus, any hurdles to reaching profitability may result in even more dilution in the future. Also, the reason for Uber's financial health today is because of the massive dilution. Further, macroeconomic risks beyond Uber's control may impact the company. Inflation is already at historical highs, and it may continue to stay at these levels resulting in an even faster pace of tapering and rising rates by the Federal Reserve. Therefore, because Uber is still not profitable, raising rates will most likely affect the company negatively.\nSummary\nNo one knows for sure if Uber will blossom into a beautiful swan from an ugly duckling, but today, I am starting to be cautiously bullish on Uber. Pandemic ultimately benefited the company's overall operations leading to a boom in the delivery business, which aided in Uber reaching unit economics. Further, the delivery business is expected to expand as consumers adapt to a more convenient way of life. For the mobility business, there were significant damages; however, as Uber has shown, the mobility business is strongly recovering to 2019 levels as the economies reopen. Therefore, as Uber attempts to turn around its business, I believe investors should worth consider investing in Uber. After all, Uber may blossom into a beautiful swan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":811233202,"gmtCreate":1630325324006,"gmtModify":1704958434932,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[暗中观察]&nbsp;[暗中观察]&nbsp;[暗中观察]&nbsp;","listText":"[暗中观察]&nbsp;[暗中观察]&nbsp;[暗中观察]&nbsp;","text":"[暗中观察] [暗中观察] [暗中观察]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/811233202","repostId":"2163776380","repostType":4,"isVote":1,"tweetType":1,"viewCount":278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":880310303,"gmtCreate":1631018928202,"gmtModify":1631888333261,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[微笑]&nbsp;[微笑]&nbsp;[微笑]&nbsp;","listText":"[微笑]&nbsp;[微笑]&nbsp;[微笑]&nbsp;","text":"[微笑] [微笑] [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/880310303","repostId":"1169993498","repostType":4,"repost":{"id":"1169993498","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631015740,"share":"https://www.laohu8.com/m/news/1169993498?lang=&edition=full","pubTime":"2021-09-07 19:55","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1169993498","media":"Tiger Newspress","summary":"U.S. stock futureswere flat Tuesday.\nOn Wall Street, cyclical stocks are the best performers, led by","content":"<ul>\n <li>U.S. stock futureswere flat Tuesday.</li>\n <li>On Wall Street, cyclical stocks are the best performers, led by Financials. Info Tech,&nbsp;Communication Services and Energy are slightly lower.</li>\n <li>The dollar and Treasuries yields rose, gold and cryptos dropped.</li>\n <li>Bitcoin could be active today asit becomes legal tender in El Salvador and has gained the attention of the Reddit crowd.</li>\n</ul>\n<p>(Sept 7)&nbsp;European bourses dipped in the red and a rally in US equity futures which traded near all-time highs after the Labor Day holiday fizzled, as&nbsp; investors weighed China’s better-than-forecast&nbsp;trade data against the growing likelihood of fading central-bank support. S&amp;P500 futures traded fractionally in the green and Nasdaq 100 indexes slipped and equity gains in China and Japan were followed by losses in Europe as investors speculated the ECB may get ready to roll back stimulus. The dollar and Treasuries yields rose, gold and cryptos dropped.</p>\n<p>At 8:00 a.m. ET, Dow E-minis were up 33 points, or 0.09%, S&amp;P 500 E-minis were up 2.5 points, or 0.06% and Nasdaq 100 E-minis were up 2.75 points, or 0.02%.</p>\n<p><img src=\"https://static.tigerbbs.com/774e551b2ebb39de9eaeec90e5af95c9\" tg-width=\"1242\" tg-height=\"518\" referrerpolicy=\"no-referrer\"></p>\n<p>Tech gigacaps such as Microsoft, Amazon.com and Facebook eased about 0.2% each, while Apple and Google were slightly higher.</p>\n<p>Tracking benchmark bond yields higher, banks including Wells Fargo, Goldman Sachs, Citigroup and JP Morgan rose between 0.4% and 0.5%.</p>\n<p>Among meme stocks, IronNet more than doubled in value in premarket trading after the cybersecurity company was touted on Reddit and StockTwits.&nbsp;</p>\n<p>Chinese technology stocks listed in the U.S. rose premarket, amid surprisingly strong trade data (see below), renewed demand for technology shares, the lack of new regulatory announcements and Tencent’s plans to buy back more shares. Alibaba (BABA) was up 2.35% and Didi (DIDI) gained 2.55%, while Baidu (BIDU) gains 3.33%.</p>\n<p><img src=\"https://static.tigerbbs.com/f7d4a60cfccf02d72f36227e0e14cd3e\" tg-width=\"274\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<ul>\n <li>Alcoa (AA) shares rise 2.9%&nbsp;premarket, catching up with the jump in aluminum prices seen on Monday when U.S. markets were closed.</li>\n <li>Farfetch (FTCH) drops 0.7% after Arete downgraded the stock to sell, citing China risks along with a drag to gross margin from Tmall fees.</li>\n <li>Columbia Property Trust Inc (CXP) jumped 15.8% after Pacific Investment Management Company said it would buy the company for $2.2 billion.</li>\n <li>InflaRx (IFRX) shares rally 23% after it was among the companies awarded grants in Germany for Covid-19 drug development.</li>\n <li>IronNet (IRNT) shares soar 106% with the stock being touted on Reddit and StockTwits.</li>\n <li>Match Group (MTCH) surges 14% on being named to the S&amp;P 500 Index.</li>\n <li>Moderna (MRNA) declines 1.6% after report that Japan’s health ministry said that a man in his 40s died after receiving the biotech’s Covid-19 vaccine from production lots that are being recalled due to possible contamination</li>\n <li>Vertex Pharmaceuticals fell 1.8% in early New York trading after Morgan Stanley cut its stock recommendation to underweight.</li>\n</ul>\n<p>The world’s biggest economy remains “in good health” despite a recent increase in Covid-19 infections, according to Mark Haefele, chief investment officer at UBS Global Wealth. “This will support stocks, in our view, especially in cyclical industries like energy and financials,” Haefele said. “We continue to advise investors to position for reopening and recovery.”</p>\n<p>Another thing that supports stocks is that the market is no longer expecting a Fed announcement about tapering in September, Esty Dwek, a global market strategist at Natixis Investment Managers, told Bloomberg Television. “Tapering doesn’t matter that much for markets. It’s priced in, it’s expected. But the reality is that interest rate hikes matter.” Justifying this view wasGoldman's latest GDP forecast cuton Monday, its third in the past month, which saw the bank trim its full-year 2021 GDP forecast to 5.7% from 6.0%.</p>\n<p><img src=\"https://static.tigerbbs.com/858faccbc6f7fdcbcba5f727c38900c2\" tg-width=\"952\" tg-height=\"625\" width=\"100%\" height=\"auto\">The S&amp;P 500 and the Nasdaq have gained around 1.5% each since Aug. 27 following dovish commentary from Fed Chair Jerome Powell at the Jackson Hole Symposium where he again said that a stable job market was an essential goal for the central bank to start pulling back monetary support.</p>\n<p>Optimism that the Fed will delay tapering was offset by concerns that the ECB could turn hawkish at its meeting this week: “There is a growing expectation that the European Central Bank could start talking about tapering its bond purchases sooner rather than later,”&nbsp;Ipek Ozkardeskaya, a senior analyst at Swissquote Group Holdings, wrote in a note. “The ECB hawks who have been in a retreat for the past year won’t stay quiet for longer facing the rising inflation threat.”</p>\n<p>Asian stocks climbed, driven by Japanese shares<b>that extended a rally after the prime minister’s resignation announcement and a surge in Hong Kong-traded tech names.</b>The MSCI Asia Pacific Index advanced as much as 0.5%, led by the communication-services and consumer-discretionary sectors. Japan’s Nikkei 225 Stock Average briefly broke above the 30,000 level for the first time since April as a reshuffle of the blue-chip gauge added to optimism stoked by potential policy changes that could come under a new national leader. Japanese Finance Minister Aso said<b>they will consider compiling a budget with focus on digital, environmental policies, regional economies and ageing population.</b>Furthermore, he doubts if Japan's finances would risk a weaker JPY and inflation, while he suggested it would be good for the next PM to boost government revenue and restrain spending (yes, he really said that).</p>\n<p>Adding to the good news was the report that Chinese export growth unexpectedly surged in August, allaying concerns the pandemic is delaying economic reopening and creating supply-chain bottlenecks. China's exports accelerated to 25.6% yoy in August, a sequential rebound of 3.3% in August vs. -0.3% in July. Imports rose 33.1% yoy in August, and grew 2.1% mom sa non-annualized in August (vs. -6.4% in July). Both exports and imports surprised to the upside despite the disruptions to operations at Ningbo port in August due to the local outbreak. Monthly trade surplus rose to $58.3bn in August.</p>\n<p><img src=\"https://static.tigerbbs.com/eaa2b6673ab863a92d8ad2a5cbb10328\" tg-width=\"575\" tg-height=\"369\" width=\"100%\" height=\"auto\"><b>In FX,</b> the Bloomberg Dollar Spot Index erased losses as a rally in regional equities stalled and the greenback traded mixed versus its Group-of-10 peers, though most moves were relatively small.<b>Australia’s dollar was the worst G-10 performer as it reversed an earlier gain after the central bank said it will maintain its debt purchases until at least-mid February,</b>instead of an earlier target of November this year. Ten of 16 economists surveyed by Bloomberg had expected the RBA to defer scaling back quantitative easing. The central bank held its cash rate at 0.1% at the meeting. The euro was little changed, shrugging off data that showed investor confidence in the German economy declining for a fourth month amid worsening infection rates and global supply disruptions. The pound hovered ahead of U.K. Prime Minister Boris Johnson announcing a long-awaited plan to reform social care. If the “key interest rate does rise in the next year or so, it’s likely that any rise would be relatively limited,” Bank of England policy maker Michael Saunders said in a speech on Tuesday. Japanese government bond futures rose after a smooth auction of 30-year debt soothed sentiment toward the nation’s debt market. The yen traded in a narrow range.<b>Emerging-market currencies weakened for the first time in three days as the dollar climbed along with U.S. yields.</b>Higher-yielding currencies, including the South African rand and Russian ruble, led declines after outperforming peers last week on expectations for continuing monetary support from the Federal Reserve.</p>\n<p><b>In rates, </b>Treasury yields were cheaper by up to 4bp across 7- to 20-year sectors,<b>with 10-year yields sit around 1.36%, mildly outperforming bunds while gilts trade slightly richer.</b>Treasuries were pressured lower with losses led by intermediates out to long-end ahead of this week’s supply, which kicks off Tuesday with $58b 3-year note sale.&nbsp; Mild risk-on in Asia spurred by China trade data beat saw stocks close higher and Treasuries trade heavy, adding to auction concessions. U.S. auction cycle includes 10- and 30-year offerings Wednesday and Thursday. Peripheral spreads have a marginal tightening bias to core; Spain underperformed slightly with focus today on issuance of the sovereign’s inaugural green bond.</p>\n<p>In commodities, crude futures drift within Monday’s trading range. WTI hovers near $69. Brent near $72.50. Spot gold drops ~$10 to trade near $1,813/oz. LME copper underperforms peers with a 1% decline.</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>Toplines Before US Market Open on Tuesday</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\">\nToplines Before US Market Open on Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-07 19:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>U.S. stock futureswere flat Tuesday.</li>\n <li>On Wall Street, cyclical stocks are the best performers, led by Financials. Info Tech,&nbsp;Communication Services and Energy are slightly lower.</li>\n <li>The dollar and Treasuries yields rose, gold and cryptos dropped.</li>\n <li>Bitcoin could be active today asit becomes legal tender in El Salvador and has gained the attention of the Reddit crowd.</li>\n</ul>\n<p>(Sept 7)&nbsp;European bourses dipped in the red and a rally in US equity futures which traded near all-time highs after the Labor Day holiday fizzled, as&nbsp; investors weighed China’s better-than-forecast&nbsp;trade data against the growing likelihood of fading central-bank support. S&amp;P500 futures traded fractionally in the green and Nasdaq 100 indexes slipped and equity gains in China and Japan were followed by losses in Europe as investors speculated the ECB may get ready to roll back stimulus. The dollar and Treasuries yields rose, gold and cryptos dropped.</p>\n<p>At 8:00 a.m. ET, Dow E-minis were up 33 points, or 0.09%, S&amp;P 500 E-minis were up 2.5 points, or 0.06% and Nasdaq 100 E-minis were up 2.75 points, or 0.02%.</p>\n<p><img src=\"https://static.tigerbbs.com/774e551b2ebb39de9eaeec90e5af95c9\" tg-width=\"1242\" tg-height=\"518\" referrerpolicy=\"no-referrer\"></p>\n<p>Tech gigacaps such as Microsoft, Amazon.com and Facebook eased about 0.2% each, while Apple and Google were slightly higher.</p>\n<p>Tracking benchmark bond yields higher, banks including Wells Fargo, Goldman Sachs, Citigroup and JP Morgan rose between 0.4% and 0.5%.</p>\n<p>Among meme stocks, IronNet more than doubled in value in premarket trading after the cybersecurity company was touted on Reddit and StockTwits.&nbsp;</p>\n<p>Chinese technology stocks listed in the U.S. rose premarket, amid surprisingly strong trade data (see below), renewed demand for technology shares, the lack of new regulatory announcements and Tencent’s plans to buy back more shares. Alibaba (BABA) was up 2.35% and Didi (DIDI) gained 2.55%, while Baidu (BIDU) gains 3.33%.</p>\n<p><img src=\"https://static.tigerbbs.com/f7d4a60cfccf02d72f36227e0e14cd3e\" tg-width=\"274\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Stocks making the biggest moves premarket:</b></p>\n<ul>\n <li>Alcoa (AA) shares rise 2.9%&nbsp;premarket, catching up with the jump in aluminum prices seen on Monday when U.S. markets were closed.</li>\n <li>Farfetch (FTCH) drops 0.7% after Arete downgraded the stock to sell, citing China risks along with a drag to gross margin from Tmall fees.</li>\n <li>Columbia Property Trust Inc (CXP) jumped 15.8% after Pacific Investment Management Company said it would buy the company for $2.2 billion.</li>\n <li>InflaRx (IFRX) shares rally 23% after it was among the companies awarded grants in Germany for Covid-19 drug development.</li>\n <li>IronNet (IRNT) shares soar 106% with the stock being touted on Reddit and StockTwits.</li>\n <li>Match Group (MTCH) surges 14% on being named to the S&amp;P 500 Index.</li>\n <li>Moderna (MRNA) declines 1.6% after report that Japan’s health ministry said that a man in his 40s died after receiving the biotech’s Covid-19 vaccine from production lots that are being recalled due to possible contamination</li>\n <li>Vertex Pharmaceuticals fell 1.8% in early New York trading after Morgan Stanley cut its stock recommendation to underweight.</li>\n</ul>\n<p>The world’s biggest economy remains “in good health” despite a recent increase in Covid-19 infections, according to Mark Haefele, chief investment officer at UBS Global Wealth. “This will support stocks, in our view, especially in cyclical industries like energy and financials,” Haefele said. “We continue to advise investors to position for reopening and recovery.”</p>\n<p>Another thing that supports stocks is that the market is no longer expecting a Fed announcement about tapering in September, Esty Dwek, a global market strategist at Natixis Investment Managers, told Bloomberg Television. “Tapering doesn’t matter that much for markets. It’s priced in, it’s expected. But the reality is that interest rate hikes matter.” Justifying this view wasGoldman's latest GDP forecast cuton Monday, its third in the past month, which saw the bank trim its full-year 2021 GDP forecast to 5.7% from 6.0%.</p>\n<p><img src=\"https://static.tigerbbs.com/858faccbc6f7fdcbcba5f727c38900c2\" tg-width=\"952\" tg-height=\"625\" width=\"100%\" height=\"auto\">The S&amp;P 500 and the Nasdaq have gained around 1.5% each since Aug. 27 following dovish commentary from Fed Chair Jerome Powell at the Jackson Hole Symposium where he again said that a stable job market was an essential goal for the central bank to start pulling back monetary support.</p>\n<p>Optimism that the Fed will delay tapering was offset by concerns that the ECB could turn hawkish at its meeting this week: “There is a growing expectation that the European Central Bank could start talking about tapering its bond purchases sooner rather than later,”&nbsp;Ipek Ozkardeskaya, a senior analyst at Swissquote Group Holdings, wrote in a note. “The ECB hawks who have been in a retreat for the past year won’t stay quiet for longer facing the rising inflation threat.”</p>\n<p>Asian stocks climbed, driven by Japanese shares<b>that extended a rally after the prime minister’s resignation announcement and a surge in Hong Kong-traded tech names.</b>The MSCI Asia Pacific Index advanced as much as 0.5%, led by the communication-services and consumer-discretionary sectors. Japan’s Nikkei 225 Stock Average briefly broke above the 30,000 level for the first time since April as a reshuffle of the blue-chip gauge added to optimism stoked by potential policy changes that could come under a new national leader. Japanese Finance Minister Aso said<b>they will consider compiling a budget with focus on digital, environmental policies, regional economies and ageing population.</b>Furthermore, he doubts if Japan's finances would risk a weaker JPY and inflation, while he suggested it would be good for the next PM to boost government revenue and restrain spending (yes, he really said that).</p>\n<p>Adding to the good news was the report that Chinese export growth unexpectedly surged in August, allaying concerns the pandemic is delaying economic reopening and creating supply-chain bottlenecks. China's exports accelerated to 25.6% yoy in August, a sequential rebound of 3.3% in August vs. -0.3% in July. Imports rose 33.1% yoy in August, and grew 2.1% mom sa non-annualized in August (vs. -6.4% in July). Both exports and imports surprised to the upside despite the disruptions to operations at Ningbo port in August due to the local outbreak. Monthly trade surplus rose to $58.3bn in August.</p>\n<p><img src=\"https://static.tigerbbs.com/eaa2b6673ab863a92d8ad2a5cbb10328\" tg-width=\"575\" tg-height=\"369\" width=\"100%\" height=\"auto\"><b>In FX,</b> the Bloomberg Dollar Spot Index erased losses as a rally in regional equities stalled and the greenback traded mixed versus its Group-of-10 peers, though most moves were relatively small.<b>Australia’s dollar was the worst G-10 performer as it reversed an earlier gain after the central bank said it will maintain its debt purchases until at least-mid February,</b>instead of an earlier target of November this year. Ten of 16 economists surveyed by Bloomberg had expected the RBA to defer scaling back quantitative easing. The central bank held its cash rate at 0.1% at the meeting. The euro was little changed, shrugging off data that showed investor confidence in the German economy declining for a fourth month amid worsening infection rates and global supply disruptions. The pound hovered ahead of U.K. Prime Minister Boris Johnson announcing a long-awaited plan to reform social care. If the “key interest rate does rise in the next year or so, it’s likely that any rise would be relatively limited,” Bank of England policy maker Michael Saunders said in a speech on Tuesday. Japanese government bond futures rose after a smooth auction of 30-year debt soothed sentiment toward the nation’s debt market. The yen traded in a narrow range.<b>Emerging-market currencies weakened for the first time in three days as the dollar climbed along with U.S. yields.</b>Higher-yielding currencies, including the South African rand and Russian ruble, led declines after outperforming peers last week on expectations for continuing monetary support from the Federal Reserve.</p>\n<p><b>In rates, </b>Treasury yields were cheaper by up to 4bp across 7- to 20-year sectors,<b>with 10-year yields sit around 1.36%, mildly outperforming bunds while gilts trade slightly richer.</b>Treasuries were pressured lower with losses led by intermediates out to long-end ahead of this week’s supply, which kicks off Tuesday with $58b 3-year note sale.&nbsp; Mild risk-on in Asia spurred by China trade data beat saw stocks close higher and Treasuries trade heavy, adding to auction concessions. U.S. auction cycle includes 10- and 30-year offerings Wednesday and Thursday. Peripheral spreads have a marginal tightening bias to core; Spain underperformed slightly with focus today on issuance of the sovereign’s inaugural green bond.</p>\n<p>In commodities, crude futures drift within Monday’s trading range. WTI hovers near $69. Brent near $72.50. Spot gold drops ~$10 to trade near $1,813/oz. LME copper underperforms peers with a 1% decline.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169993498","content_text":"U.S. stock futureswere flat Tuesday.\nOn Wall Street, cyclical stocks are the best performers, led by Financials. Info Tech, Communication Services and Energy are slightly lower.\nThe dollar and Treasuries yields rose, gold and cryptos dropped.\nBitcoin could be active today asit becomes legal tender in El Salvador and has gained the attention of the Reddit crowd.\n\n(Sept 7) European bourses dipped in the red and a rally in US equity futures which traded near all-time highs after the Labor Day holiday fizzled, as  investors weighed China’s better-than-forecast trade data against the growing likelihood of fading central-bank support. S&P500 futures traded fractionally in the green and Nasdaq 100 indexes slipped and equity gains in China and Japan were followed by losses in Europe as investors speculated the ECB may get ready to roll back stimulus. The dollar and Treasuries yields rose, gold and cryptos dropped.\nAt 8:00 a.m. ET, Dow E-minis were up 33 points, or 0.09%, S&P 500 E-minis were up 2.5 points, or 0.06% and Nasdaq 100 E-minis were up 2.75 points, or 0.02%.\n\nTech gigacaps such as Microsoft, Amazon.com and Facebook eased about 0.2% each, while Apple and Google were slightly higher.\nTracking benchmark bond yields higher, banks including Wells Fargo, Goldman Sachs, Citigroup and JP Morgan rose between 0.4% and 0.5%.\nAmong meme stocks, IronNet more than doubled in value in premarket trading after the cybersecurity company was touted on Reddit and StockTwits. \nChinese technology stocks listed in the U.S. rose premarket, amid surprisingly strong trade data (see below), renewed demand for technology shares, the lack of new regulatory announcements and Tencent’s plans to buy back more shares. Alibaba (BABA) was up 2.35% and Didi (DIDI) gained 2.55%, while Baidu (BIDU) gains 3.33%.\n\nStocks making the biggest moves premarket:\n\nAlcoa (AA) shares rise 2.9% premarket, catching up with the jump in aluminum prices seen on Monday when U.S. markets were closed.\nFarfetch (FTCH) drops 0.7% after Arete downgraded the stock to sell, citing China risks along with a drag to gross margin from Tmall fees.\nColumbia Property Trust Inc (CXP) jumped 15.8% after Pacific Investment Management Company said it would buy the company for $2.2 billion.\nInflaRx (IFRX) shares rally 23% after it was among the companies awarded grants in Germany for Covid-19 drug development.\nIronNet (IRNT) shares soar 106% with the stock being touted on Reddit and StockTwits.\nMatch Group (MTCH) surges 14% on being named to the S&P 500 Index.\nModerna (MRNA) declines 1.6% after report that Japan’s health ministry said that a man in his 40s died after receiving the biotech’s Covid-19 vaccine from production lots that are being recalled due to possible contamination\nVertex Pharmaceuticals fell 1.8% in early New York trading after Morgan Stanley cut its stock recommendation to underweight.\n\nThe world’s biggest economy remains “in good health” despite a recent increase in Covid-19 infections, according to Mark Haefele, chief investment officer at UBS Global Wealth. “This will support stocks, in our view, especially in cyclical industries like energy and financials,” Haefele said. “We continue to advise investors to position for reopening and recovery.”\nAnother thing that supports stocks is that the market is no longer expecting a Fed announcement about tapering in September, Esty Dwek, a global market strategist at Natixis Investment Managers, told Bloomberg Television. “Tapering doesn’t matter that much for markets. It’s priced in, it’s expected. But the reality is that interest rate hikes matter.” Justifying this view wasGoldman's latest GDP forecast cuton Monday, its third in the past month, which saw the bank trim its full-year 2021 GDP forecast to 5.7% from 6.0%.\nThe S&P 500 and the Nasdaq have gained around 1.5% each since Aug. 27 following dovish commentary from Fed Chair Jerome Powell at the Jackson Hole Symposium where he again said that a stable job market was an essential goal for the central bank to start pulling back monetary support.\nOptimism that the Fed will delay tapering was offset by concerns that the ECB could turn hawkish at its meeting this week: “There is a growing expectation that the European Central Bank could start talking about tapering its bond purchases sooner rather than later,” Ipek Ozkardeskaya, a senior analyst at Swissquote Group Holdings, wrote in a note. “The ECB hawks who have been in a retreat for the past year won’t stay quiet for longer facing the rising inflation threat.”\nAsian stocks climbed, driven by Japanese sharesthat extended a rally after the prime minister’s resignation announcement and a surge in Hong Kong-traded tech names.The MSCI Asia Pacific Index advanced as much as 0.5%, led by the communication-services and consumer-discretionary sectors. Japan’s Nikkei 225 Stock Average briefly broke above the 30,000 level for the first time since April as a reshuffle of the blue-chip gauge added to optimism stoked by potential policy changes that could come under a new national leader. Japanese Finance Minister Aso saidthey will consider compiling a budget with focus on digital, environmental policies, regional economies and ageing population.Furthermore, he doubts if Japan's finances would risk a weaker JPY and inflation, while he suggested it would be good for the next PM to boost government revenue and restrain spending (yes, he really said that).\nAdding to the good news was the report that Chinese export growth unexpectedly surged in August, allaying concerns the pandemic is delaying economic reopening and creating supply-chain bottlenecks. China's exports accelerated to 25.6% yoy in August, a sequential rebound of 3.3% in August vs. -0.3% in July. Imports rose 33.1% yoy in August, and grew 2.1% mom sa non-annualized in August (vs. -6.4% in July). Both exports and imports surprised to the upside despite the disruptions to operations at Ningbo port in August due to the local outbreak. Monthly trade surplus rose to $58.3bn in August.\nIn FX, the Bloomberg Dollar Spot Index erased losses as a rally in regional equities stalled and the greenback traded mixed versus its Group-of-10 peers, though most moves were relatively small.Australia’s dollar was the worst G-10 performer as it reversed an earlier gain after the central bank said it will maintain its debt purchases until at least-mid February,instead of an earlier target of November this year. Ten of 16 economists surveyed by Bloomberg had expected the RBA to defer scaling back quantitative easing. The central bank held its cash rate at 0.1% at the meeting. The euro was little changed, shrugging off data that showed investor confidence in the German economy declining for a fourth month amid worsening infection rates and global supply disruptions. The pound hovered ahead of U.K. Prime Minister Boris Johnson announcing a long-awaited plan to reform social care. If the “key interest rate does rise in the next year or so, it’s likely that any rise would be relatively limited,” Bank of England policy maker Michael Saunders said in a speech on Tuesday. Japanese government bond futures rose after a smooth auction of 30-year debt soothed sentiment toward the nation’s debt market. The yen traded in a narrow range.Emerging-market currencies weakened for the first time in three days as the dollar climbed along with U.S. yields.Higher-yielding currencies, including the South African rand and Russian ruble, led declines after outperforming peers last week on expectations for continuing monetary support from the Federal Reserve.\nIn rates, Treasury yields were cheaper by up to 4bp across 7- to 20-year sectors,with 10-year yields sit around 1.36%, mildly outperforming bunds while gilts trade slightly richer.Treasuries were pressured lower with losses led by intermediates out to long-end ahead of this week’s supply, which kicks off Tuesday with $58b 3-year note sale.  Mild risk-on in Asia spurred by China trade data beat saw stocks close higher and Treasuries trade heavy, adding to auction concessions. U.S. auction cycle includes 10- and 30-year offerings Wednesday and Thursday. Peripheral spreads have a marginal tightening bias to core; Spain underperformed slightly with focus today on issuance of the sovereign’s inaugural green bond.\nIn commodities, crude futures drift within Monday’s trading range. WTI hovers near $69. Brent near $72.50. Spot gold drops ~$10 to trade near $1,813/oz. LME copper underperforms peers with a 1% decline.","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":365462529,"gmtCreate":1614772158661,"gmtModify":1703480899693,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[开心]&nbsp;","listText":"[开心]&nbsp;","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/365462529","repostId":"2116469585","repostType":2,"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":818640168,"gmtCreate":1630406664854,"gmtModify":1631891229014,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[流泪]&nbsp;[流泪]&nbsp;[流泪]&nbsp;","listText":"[流泪]&nbsp;[流泪]&nbsp;[流泪]&nbsp;","text":"[流泪] [流泪] [流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/818640168","repostId":"2163319158","repostType":4,"isVote":1,"tweetType":1,"viewCount":148,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":813746412,"gmtCreate":1630256194636,"gmtModify":1704957497328,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[惊讶]&nbsp;[惊讶]&nbsp;[惊讶]&nbsp;","listText":"[惊讶]&nbsp;[惊讶]&nbsp;[惊讶]&nbsp;","text":"[惊讶] [惊讶] [惊讶]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/813746412","repostId":"2162024053","repostType":4,"repost":{"id":"2162024053","pubTimestamp":1630110600,"share":"https://www.laohu8.com/m/news/2162024053?lang=&edition=full","pubTime":"2021-08-28 08:30","market":"us","language":"en","title":"Got $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again","url":"https://stock-news.laohu8.com/highlight/detail?id=2162024053","media":"Motley Fool","summary":"A stronger pace of growth in the future, thanks to solid demand, could send this tech stock's price much higher.","content":"<p><b>Applied Materials</b> (NASDAQ:AMAT) looked like an enticing bet going into its fiscal 2021 third-quarter earnings report, and the company didn't disappoint as it crushed Wall Street's expectations on the back of terrific growth in revenue and earnings. What's more, Applied's guidance turned out to be strong as well, fueled by the massive growth in semiconductor investments across the globe as chipmakers are scrambling to meet huge end-market demand.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36e7c524b510f3ddf875d48fa2f3ac29\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<p>It's worth noting that Applied Materials stock is now trading at a cheaper valuation than it was before the quarterly report came out, thanks to the terrific earnings growth. Its price-to-earnings (P/E) ratio is just 23, while the forward earnings multiple of 17 indicates that more bottom-line growth is in the cards. These multiples are lower than the <b>S&amp;P 500 Index</b>'s trailing P/E of 31 and forward P/E of 22.</p>\n<p>That means there's a golden opportunity for investors to add a rapidly growing company to their portfolios at an attractive valuation, and they shouldn't miss out. Let's look at some reasons.</p>\n<h2>Applied Materials is now growing at a blistering pace</h2>\n<p>A $1,000 investment in Applied Materials stock a decade ago would be worth almost $12,000 now:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81e0104d17e81fcbfbe06af299b88f05\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>AMAT data by YCharts.</span></p>\n<p>However, as the chart above shows, the company's top and bottom lines haven't exactly grown at a blistering pace over the past 10 years. Its revenue just about doubled, while earnings growth hasn't been eye-popping either, considering the pace at which the broader market's bottom line has increased. Also, as the chart indicates, most of Applied Materials' gains arrived in the past year and a half, after it became evident that the company's offerings would remain in hot demand amid a global semiconductor shortage that has disrupted several industries.</p>\n<p>Not surprisingly, Applied Materials' revenue and earnings have been growing at a much faster pace when compared to its average annual growth in the past 10 years. The company delivered record quarterly revenue of $6.2 billion in Q3, up 41% year over year. It also clocked a record (adjusted) operating margin of 32.7%, a jump of 6.3 percentage points over the prior year.</p>\n<p>The terrific sales and margin growth led to record adjusted earnings of $1.90 per share, up 79% from the year-ago quarter. The results crushed the expectations of analysts who'd been looking for $1.77 per share in earnings on $5.94 billion in revenue.</p>\n<p>Applied Materials' guidance was the icing on the cake. The company expects, at the midpoint of its guidance range, to earn $1.94 per share this quarter on revenue of $6.33 billion. Wall Street had set the bar lower; analysts were expecting just $1.81 in earnings per share on $6.04 billion in revenue. The midpoint of the guidance indicates that Applied is anticipating 35% year-over-year revenue growth this quarter, while non-GAAP (adjusted) earnings could increase 55%.</p>\n<p>The impressive guidance is a clue that Applied Materials has switched into a higher gear, and it's unlikely to step off the gas given the massive end-market opportunity at hand. In fact, it wouldn't be surprising to see its growth over the next decade significantly outpacing the rate at which it's grown in the past 10 years, helping the stock to fly higher once again.</p>\n<h2>Sustainable growth drivers can help the stock soar</h2>\n<p>Applied Materials supplies chip fabrication equipment, services, and software to semiconductor manufacturers. Its largest source of revenue is the semiconductor systems business, through which Applied develops, manufactures, and sells semiconductor fabrication equipment. This segment produced nearly 72% of the company's total revenue last quarter and recorded 53% year-over-year growth.</p>\n<p>Within the semiconductor systems business, the foundry/logic vertical occupied the largest share with 63% of total revenue, up from 55% in the year-ago quarter. The foundry business is built for long-term growth, as chipmakers across the globe are ramping up capacity. For instance, global semiconductor capital spending stood at an estimated $29.4 billion in 2010, according to <b>Gartner</b>. Last year, that number had ballooned to $106.9 billion.</p>\n<p>Gartner estimates that global semiconductor spending will rise to $141.9 billion this year. Spending on semiconductor equipment can keep moving higher in the coming years on the back of a huge jump in chip demand.</p>\n<p>Applied Materials points out that the semiconductor industry took 40 years to achieve its first $200 billion in revenue; from 2000 to 2017, the industry added the next $200 billion. An additional $200 billion of revenue is expected by 2024, over a shorter span of just seven years. What's more, the semiconductor industry's revenue is anticipated to increase a whopping $400 billion from 2025 to 2030, hitting $1 trillion at the end of the forecast period.</p>\n<p>Chipmakers will need to buy new equipment or upgrade their existing setups to cater to this massive increase in semiconductor demand, which will be driven by several verticals including automotive, networking, and industrial. Discussing \"PPACt\" (chip power efficiency, performance, area, cost, and time to market), Applied Materials CEO Gary Dickerson said on the Q3 earnings call that the company is on track to take advantage of these tailwinds and outperform the broader market:</p>\n<blockquote>\n As we look ahead, we are confident that the strength of longer-term secular trends will drive semiconductor and wafer fab equipment markets structurally higher. And we believe Applied is in the best position to accelerate our customers' PPACt roadmaps, and grow significantly faster than our markets.\n</blockquote>\n<p>All of this indicates that Applied Materials is in a solid position to deliver more upside. Analysts expect the company's earnings to clock a compound annual growth rate (CAGR) of nearly 25% for the next five years. At its current valuation, buying this tech stock is a no-brainer.</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>Got $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again</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\">\nGot $1,000? Buy This Hot Stock That Jumped 10X and Could Do It Again\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 08:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/27/got-1000-buy-this-hot-stock-that-could-jump-10x-on/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Applied Materials (NASDAQ:AMAT) looked like an enticing bet going into its fiscal 2021 third-quarter earnings report, and the company didn't disappoint as it crushed Wall Street's expectations on the ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/27/got-1000-buy-this-hot-stock-that-could-jump-10x-on/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMAT":"应用材料"},"source_url":"https://www.fool.com/investing/2021/08/27/got-1000-buy-this-hot-stock-that-could-jump-10x-on/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162024053","content_text":"Applied Materials (NASDAQ:AMAT) looked like an enticing bet going into its fiscal 2021 third-quarter earnings report, and the company didn't disappoint as it crushed Wall Street's expectations on the back of terrific growth in revenue and earnings. What's more, Applied's guidance turned out to be strong as well, fueled by the massive growth in semiconductor investments across the globe as chipmakers are scrambling to meet huge end-market demand.\nImage source: Getty Images.\nIt's worth noting that Applied Materials stock is now trading at a cheaper valuation than it was before the quarterly report came out, thanks to the terrific earnings growth. Its price-to-earnings (P/E) ratio is just 23, while the forward earnings multiple of 17 indicates that more bottom-line growth is in the cards. These multiples are lower than the S&P 500 Index's trailing P/E of 31 and forward P/E of 22.\nThat means there's a golden opportunity for investors to add a rapidly growing company to their portfolios at an attractive valuation, and they shouldn't miss out. Let's look at some reasons.\nApplied Materials is now growing at a blistering pace\nA $1,000 investment in Applied Materials stock a decade ago would be worth almost $12,000 now:\nAMAT data by YCharts.\nHowever, as the chart above shows, the company's top and bottom lines haven't exactly grown at a blistering pace over the past 10 years. Its revenue just about doubled, while earnings growth hasn't been eye-popping either, considering the pace at which the broader market's bottom line has increased. Also, as the chart indicates, most of Applied Materials' gains arrived in the past year and a half, after it became evident that the company's offerings would remain in hot demand amid a global semiconductor shortage that has disrupted several industries.\nNot surprisingly, Applied Materials' revenue and earnings have been growing at a much faster pace when compared to its average annual growth in the past 10 years. The company delivered record quarterly revenue of $6.2 billion in Q3, up 41% year over year. It also clocked a record (adjusted) operating margin of 32.7%, a jump of 6.3 percentage points over the prior year.\nThe terrific sales and margin growth led to record adjusted earnings of $1.90 per share, up 79% from the year-ago quarter. The results crushed the expectations of analysts who'd been looking for $1.77 per share in earnings on $5.94 billion in revenue.\nApplied Materials' guidance was the icing on the cake. The company expects, at the midpoint of its guidance range, to earn $1.94 per share this quarter on revenue of $6.33 billion. Wall Street had set the bar lower; analysts were expecting just $1.81 in earnings per share on $6.04 billion in revenue. The midpoint of the guidance indicates that Applied is anticipating 35% year-over-year revenue growth this quarter, while non-GAAP (adjusted) earnings could increase 55%.\nThe impressive guidance is a clue that Applied Materials has switched into a higher gear, and it's unlikely to step off the gas given the massive end-market opportunity at hand. In fact, it wouldn't be surprising to see its growth over the next decade significantly outpacing the rate at which it's grown in the past 10 years, helping the stock to fly higher once again.\nSustainable growth drivers can help the stock soar\nApplied Materials supplies chip fabrication equipment, services, and software to semiconductor manufacturers. Its largest source of revenue is the semiconductor systems business, through which Applied develops, manufactures, and sells semiconductor fabrication equipment. This segment produced nearly 72% of the company's total revenue last quarter and recorded 53% year-over-year growth.\nWithin the semiconductor systems business, the foundry/logic vertical occupied the largest share with 63% of total revenue, up from 55% in the year-ago quarter. The foundry business is built for long-term growth, as chipmakers across the globe are ramping up capacity. For instance, global semiconductor capital spending stood at an estimated $29.4 billion in 2010, according to Gartner. Last year, that number had ballooned to $106.9 billion.\nGartner estimates that global semiconductor spending will rise to $141.9 billion this year. Spending on semiconductor equipment can keep moving higher in the coming years on the back of a huge jump in chip demand.\nApplied Materials points out that the semiconductor industry took 40 years to achieve its first $200 billion in revenue; from 2000 to 2017, the industry added the next $200 billion. An additional $200 billion of revenue is expected by 2024, over a shorter span of just seven years. What's more, the semiconductor industry's revenue is anticipated to increase a whopping $400 billion from 2025 to 2030, hitting $1 trillion at the end of the forecast period.\nChipmakers will need to buy new equipment or upgrade their existing setups to cater to this massive increase in semiconductor demand, which will be driven by several verticals including automotive, networking, and industrial. Discussing \"PPACt\" (chip power efficiency, performance, area, cost, and time to market), Applied Materials CEO Gary Dickerson said on the Q3 earnings call that the company is on track to take advantage of these tailwinds and outperform the broader market:\n\n As we look ahead, we are confident that the strength of longer-term secular trends will drive semiconductor and wafer fab equipment markets structurally higher. And we believe Applied is in the best position to accelerate our customers' PPACt roadmaps, and grow significantly faster than our markets.\n\nAll of this indicates that Applied Materials is in a solid position to deliver more upside. Analysts expect the company's earnings to clock a compound annual growth rate (CAGR) of nearly 25% for the next five years. At its current valuation, buying this tech stock is a no-brainer.","news_type":1},"isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":893081701,"gmtCreate":1628221190803,"gmtModify":1631884042214,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp; i bought mine on 0.9 but i waiting drop more and i will buy more againGood time to stock up this&nbsp;[害羞]&nbsp;[害羞]&nbsp;[害羞]&nbsp;","listText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>&nbsp; i bought mine on 0.9 but i waiting drop more and i will buy more againGood time to stock up this&nbsp;[害羞]&nbsp;[害羞]&nbsp;[害羞]&nbsp;","text":"$GENTING SINGAPORE LIMITED(G13.SI)$ i bought mine on 0.9 but i waiting drop more and i will buy more againGood time to stock up this [害羞] [害羞] [害羞]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893081701","isVote":1,"tweetType":1,"viewCount":157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":838575897,"gmtCreate":1629422017219,"gmtModify":1631893772027,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Morning[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","listText":"Morning[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","text":"Morning[呆住] [呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838575897","repostId":"2160760937","repostType":4,"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":838005857,"gmtCreate":1629355807379,"gmtModify":1631893772037,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[傲娇]&nbsp;[傲娇]&nbsp;[傲娇]&nbsp;[傲娇]&nbsp;","listText":"[傲娇]&nbsp;[傲娇]&nbsp;[傲娇]&nbsp;[傲娇]&nbsp;","text":"[傲娇] [傲娇] [傲娇] [傲娇]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/838005857","repostId":"1183453234","repostType":4,"repost":{"id":"1183453234","pubTimestamp":1629355285,"share":"https://www.laohu8.com/m/news/1183453234?lang=&edition=full","pubTime":"2021-08-19 14:41","market":"us","language":"en","title":"These 8 electric-vehicle stocks are best poised to gain from Biden's green-energy agenda","url":"https://stock-news.laohu8.com/highlight/detail?id=1183453234","media":"Business Insider","summary":"President Joe Biden's green energy agenda is set to release a tidal wave across the electric vehicle","content":"<ul>\n <li><b>President Joe Biden's green energy agenda is set to release a tidal wave across the electric vehicle sector, Wedbush said in a Wednesday note.</b></li>\n <li><b>\"While today EV's only represent 3% of total automotive sales globally, we believe this will reach the 10% threshold by 2025 and 20% by 2030,\" the note said.</b></li>\n <li><b>These are Wedbush analyst Dan Ives' eight favorite electric vehicle stocks to invest in.</b></li>\n</ul>\n<p>Investments in the electric vehicle sector are set to soar as President Joe Biden's green-energy agenda is enacted, Wedbush analyst Dan Ives said in a Wednesday note.</p>\n<p>\"While today EV's only represent 3% of total automotive sales globally, we believe this will reach the 10% threshold by 2025 and 20% by 2030,\" Ives said, highlighting that there are about 150 OEMs globally going after the EV market, representing the biggest change to the auto industry since the 1950s.</p>\n<p>The opportunity ahead leads to many investment opportunities, whether its in the supply chain, to charging stations, to recycling battery materials and the broader electric grid build out.</p>\n<p>Despite the strong long-term potential for the space, EV stocks have gone nowhere in 2021, with shares of Tesla and others under pressure amid a global chip shortage. Other factors hurting the performance of EV stocks in recent months include the pre-revenue nature of many EV companies, surging competition, and a risk-off environment on Wall Street for speculative tech investments.</p>\n<p>Still, in the long-term, there are plenty of investment opportunities to take advantage of as the sector grows rapidly and legacy automakers begin to take EVs seriously. And the sector could see an added jolt if EV tax credits are expanded for consumers.</p>\n<p>These are Wedbush analyst Dan Ives' 8 favorite electric vehicle stocks to invest in, according to the note.</p>\n<p><b>1. Tesla</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72ebd20597ac2e49f1892b70c121484f\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Tesla Model Y/</span></p>\n<p>Ticker:TSLA</p>\n<p>Market Value: $641.3 billion</p>\n<p>YTD Performance: -5.6%</p>\n<p>\"Favorite Overall EV Name\"</p>\n<p><b>2. Faraday Future</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c802c20016717c415968508e2b58bc6\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>AP Photo/Jae C. Hong</span></p>\n<p>Ticker:FFIE</p>\n<p>Market Value: $3.5 billion</p>\n<p>YTD Performance: 4.8%</p>\n<p>\"Favorite Disruptive EV OEM\"</p>\n<p><b>3. Electric Last Mile</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/46f4c52835303ee788f924443c8597be\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>The electric car Nissan Leaf, at an electric vehicle charging station at Balboa Park.</span></p>\n<p>Ticker:ELMS</p>\n<p>Market Value: $969.8 million</p>\n<p>YTD Performance: -41.5%</p>\n<p>\"Favorite Commercial Last Mile Name\"</p>\n<p><b>4. Hyzon Motors</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e2efeb5dab4c1cee1737a1831a43d2ea\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Hyzon Motors</span></p>\n<p>Ticker:HYZN</p>\n<p>Market Value: $1.8 billion</p>\n<p>YTD Performance: -26.0%</p>\n<p>\"Top Hydrogen/Long Haul Trucking Play\"</p>\n<p><b>5. General Motors</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85fb4b5d3048b0ab20b45a0e12fe600f\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>General Motors, Hummer</span></p>\n<p>Ticker:GM</p>\n<p>Market Value: $74.6 billion</p>\n<p>YTD Performance: 21.2%</p>\n<p>\"Favorite Auto Stalwart Transitioning to EV\"</p>\n<p><b>6. Volkswagen</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d3b546f70c8cd5eb5f201e83549a6279\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>picture alliance/Getty Images</span></p>\n<p>Ticker:VWAGY</p>\n<p>Market Value: $148.4 billion</p>\n<p>YTD Performance: 67.5%</p>\n<p>\"Favorite Auto Stalwart Transitioning to EV\"</p>\n<p><b>7. Nio</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34402fd922caec2b0b2fa5ee4176e3b2\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>STR/AFP via Getty Images</span></p>\n<p>Ticker:NIO</p>\n<p>Market Value: $49.3 billion</p>\n<p>YTD Performance: -21.8%</p>\n<p>\"Favorite China EV Names\"</p>\n<p><b>8. XPeng</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01b1b93a38cacc353030a41a39e700b2\" tg-width=\"790\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Xpeng</span></p>\n<p>Ticker:XPEV</p>\n<p>Market Value: $33.1 billion</p>\n<p>YTD Performance: -11.5%</p>\n<p>\"Favorite China EV Names\"</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>These 8 electric-vehicle stocks are best poised to gain from Biden's green-energy agenda</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\">\nThese 8 electric-vehicle stocks are best poised to gain from Biden's green-energy agenda\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-19 14:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/top-electric-vehicle-stocks-biden-green-energy-agenda-wedbush-2021-8><strong>Business Insider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>President Joe Biden's green energy agenda is set to release a tidal wave across the electric vehicle sector, Wedbush said in a Wednesday note.\n\"While today EV's only represent 3% of total automotive ...</p>\n\n<a href=\"https://markets.businessinsider.com/news/stocks/top-electric-vehicle-stocks-biden-green-energy-agenda-wedbush-2021-8\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","HYZN":"Hyzon Motors Inc.","TSLA":"特斯拉","FFIE":"Faraday Future","09868":"小鹏汽车-W","XPEV":"小鹏汽车","GM":"通用汽车","VWAGY":"大众汽车ADR"},"source_url":"https://markets.businessinsider.com/news/stocks/top-electric-vehicle-stocks-biden-green-energy-agenda-wedbush-2021-8","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183453234","content_text":"President Joe Biden's green energy agenda is set to release a tidal wave across the electric vehicle sector, Wedbush said in a Wednesday note.\n\"While today EV's only represent 3% of total automotive sales globally, we believe this will reach the 10% threshold by 2025 and 20% by 2030,\" the note said.\nThese are Wedbush analyst Dan Ives' eight favorite electric vehicle stocks to invest in.\n\nInvestments in the electric vehicle sector are set to soar as President Joe Biden's green-energy agenda is enacted, Wedbush analyst Dan Ives said in a Wednesday note.\n\"While today EV's only represent 3% of total automotive sales globally, we believe this will reach the 10% threshold by 2025 and 20% by 2030,\" Ives said, highlighting that there are about 150 OEMs globally going after the EV market, representing the biggest change to the auto industry since the 1950s.\nThe opportunity ahead leads to many investment opportunities, whether its in the supply chain, to charging stations, to recycling battery materials and the broader electric grid build out.\nDespite the strong long-term potential for the space, EV stocks have gone nowhere in 2021, with shares of Tesla and others under pressure amid a global chip shortage. Other factors hurting the performance of EV stocks in recent months include the pre-revenue nature of many EV companies, surging competition, and a risk-off environment on Wall Street for speculative tech investments.\nStill, in the long-term, there are plenty of investment opportunities to take advantage of as the sector grows rapidly and legacy automakers begin to take EVs seriously. And the sector could see an added jolt if EV tax credits are expanded for consumers.\nThese are Wedbush analyst Dan Ives' 8 favorite electric vehicle stocks to invest in, according to the note.\n1. Tesla\nTesla Model Y/\nTicker:TSLA\nMarket Value: $641.3 billion\nYTD Performance: -5.6%\n\"Favorite Overall EV Name\"\n2. Faraday Future\nAP Photo/Jae C. Hong\nTicker:FFIE\nMarket Value: $3.5 billion\nYTD Performance: 4.8%\n\"Favorite Disruptive EV OEM\"\n3. Electric Last Mile\nThe electric car Nissan Leaf, at an electric vehicle charging station at Balboa Park.\nTicker:ELMS\nMarket Value: $969.8 million\nYTD Performance: -41.5%\n\"Favorite Commercial Last Mile Name\"\n4. Hyzon Motors\nHyzon Motors\nTicker:HYZN\nMarket Value: $1.8 billion\nYTD Performance: -26.0%\n\"Top Hydrogen/Long Haul Trucking Play\"\n5. General Motors\nGeneral Motors, Hummer\nTicker:GM\nMarket Value: $74.6 billion\nYTD Performance: 21.2%\n\"Favorite Auto Stalwart Transitioning to EV\"\n6. Volkswagen\npicture alliance/Getty Images\nTicker:VWAGY\nMarket Value: $148.4 billion\nYTD Performance: 67.5%\n\"Favorite Auto Stalwart Transitioning to EV\"\n7. Nio\nSTR/AFP via Getty Images\nTicker:NIO\nMarket Value: $49.3 billion\nYTD Performance: -21.8%\n\"Favorite China EV Names\"\n8. XPeng\nXpeng\nTicker:XPEV\nMarket Value: $33.1 billion\nYTD Performance: -11.5%\n\"Favorite China EV Names\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":617725458,"gmtCreate":1654648333178,"gmtModify":1704859943788,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a> gogogo","listText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a> gogogo","text":"$GENTING SINGAPORE LIMITED(G13.SI)$ gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/617725458","isVote":1,"tweetType":1,"viewCount":774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":881286293,"gmtCreate":1631344465012,"gmtModify":1631891228959,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/881286293","repostId":"1147045390","repostType":4,"repost":{"id":"1147045390","pubTimestamp":1631321547,"share":"https://www.laohu8.com/m/news/1147045390?lang=&edition=full","pubTime":"2021-09-11 08:52","market":"us","language":"en","title":"Why Apple’s Risk Is Limited","url":"https://stock-news.laohu8.com/highlight/detail?id=1147045390","media":"Barrons","summary":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple  to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30%","content":"<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.</p>\n<p>In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.</p>\n<p>Data from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.</p>\n<p>SensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.</p>\n<p>Gene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.</p>\n<p>Munster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.</p>\n<p>“After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”</p>\n<p>Evercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.</p>\n<p>Wedbush analyst Dan Ives told&nbsp;<i>Barron’s</i>&nbsp;he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.</p>\n<p>The ruling is more a positive for companies like&nbsp;Spotify Technology&nbsp;and&nbsp;Match Group&nbsp;than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97&nbsp;on&nbsp;Friday, while Spotify and March gained 0.7% and&nbsp;4.2%, respectively.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Apple’s Risk Is Limited</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 Apple’s Risk Is Limited\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-11 08:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded ...</p>\n\n<a href=\"https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147045390","content_text":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.\nIn a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.\nData from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.\nSensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.\nGene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.\nMunster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.\n“After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”\nEvercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.\nWedbush analyst Dan Ives told Barron’s he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.\nThe ruling is more a positive for companies like Spotify Technology and Match Group than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97 on Friday, while Spotify and March gained 0.7% and 4.2%, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":45,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":834166107,"gmtCreate":1629781120709,"gmtModify":1631893772023,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[财迷]&nbsp;[财迷]&nbsp;","listText":"[财迷]&nbsp;[财迷]&nbsp;","text":"[财迷] [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/834166107","repostId":"835953206","repostType":1,"repost":{"id":835953206,"gmtCreate":1629684968605,"gmtModify":1631884042097,"author":{"id":"3577269269445542","authorId":"3577269269445542","name":"SkylerTan","avatar":"https://static.tigerbbs.com/a7599105f5c2badfffd8c14fb075b48b","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>you down i buy, u down again i buy again... Because you will growth when this Covid gone or be normal ill","listText":"<a href=\"https://laohu8.com/S/G13.SI\">$GENTING SINGAPORE LIMITED(G13.SI)$</a>you down i buy, u down again i buy again... Because you will growth when this Covid gone or be normal ill","text":"$GENTING SINGAPORE LIMITED(G13.SI)$you down i buy, u down again i buy again... Because you will growth when this Covid gone or be normal ill","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/835953206","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}