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Where Will Lucid Motors Be in 5 Years?

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2021-05-01

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If you do, you probably recall the Cola Wars that dominated Super Bowl commercials and other major TV events. While that battle has waned, a new <a href=\"https://laohu8.com/S/AONE\">one</a> seems to be rising: <a href=\"https://laohu8.com/S/AONE.U\">one</a> involving electric vehicles (EVs).</p>\n<p>While <strong>Tesla</strong> <span>(NASDAQ:TSLA)</span> holds the pole position as the most recognizable luxury EV maker, Lucid Motors -- soon to merge with the SPAC <strong><a href=\"https://laohu8.com/S/CCC.U\">Churchill Capital</a> IV</strong> <span>(NYSE:CCIV)</span> -- is racing ahead in its attempt to challenge the EV king of the road. The upstart manufacturer aired a commercial during the episode of <em>Saturday Night Live</em> that Tesla CEO Elon Musk hosted earlier this month. Besides potential customers, investors have also taken notice of Lucid, so let's look down the road to see what it expects over the next few years. </p>\n<div><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F628077%2Fa-woman-waits-for-an-electric-vehicle-to-charge.jpg&amp;w=700&amp;op=resize\" srcset=\"https://g.foolcdn.com/image/?url=https%3A//g.foolcdn.com/editorial/images/628077/a-woman-waits-for-an-electric-vehicle-to-charge.jpg&amp;w=300&amp;op=resize 300w, https://g.foolcdn.com/image/?url=https%3A//g.foolcdn.com/editorial/images/628077/a-woman-waits-for-an-electric-vehicle-to-charge.jpg&amp;w=1000&amp;op=resize 1000w, https://g.foolcdn.com/image/?url=https%3A//g.foolcdn.com/editorial/images/628077/a-woman-waits-for-an-electric-vehicle-to-charge.jpg&amp;w=2000&amp;op=resize 2000w\"/>\n<p>Image source: Getty Images.</p>\n</div>\n<h2>What will roll off the assembly line</h2>\n<p>While no drivers are now seeing any Lucid EVs next to them in traffic, the company expects to have vehicles on the road before 2022 begins. Assembly of the company's first production model, the Lucid Air, will occur at the newly built factory in Arizona in the second half of 2021. Management recently reported that the company has received more than 9,000 reservations for the Lucid Air, and it expects to deliver about 1,000 units of the luxury sedan to customers in North America by the end of the year; deliveries to customers in international markets will commence in 2022.</p>\n<p>Over the next five years, Lucid foresees considerable growth in production, including the introduction of an SUV, Project Gravity, in 2023. With projected Air deliveries rising to 36,000 and Project Gravity deliveries of 12,000, Lucid expects to sell about 48,000 vehicles in 2023.</p>\n<p>By 2026, however, management expects SUV deliveries of about 134,000 to outnumber Air deliveries (about 42,000). Similar to Tesla's approach, Lucid expects to transition from only selling luxury vehicles to also offering more-affordable models, which it expects to introduce in 2025. Growing from 7,000 in 2025 to 75,000 in 2026, sales of the more-affordable vehicles will help the company (presumably) sell 251,000 vehicles in 2026.</p><div></div>\n<h2>Looking for the financials in the crystal ball</h2>\n<p>In seeking to grow vehicle deliveries from less than 1,000 in 2021 to 251,000 five years later, management clearly anticipates considerable success in convincing customers to hop into its driver seats. Investors, however, are likely more interested in where the rubber meets the road: the company's financial projections.</p>\n<div><table border=\"1\">\n<tbody>\n<tr>\n<th scope=\"col\">Metric</th>\n<th scope=\"col\">2022</th>\n<th scope=\"col\">2023</th>\n<th scope=\"col\">2024</th>\n<th scope=\"col\">2025</th>\n<th scope=\"col\">2026</th>\n</tr>\n<tr>\n<td>Revenue</td>\n<td>$2.2 billion</td>\n<td>$5.5 billion</td>\n<td>$9.9 billion</td>\n<td>$14 billion</td>\n<td>$22.8 billion</td>\n</tr>\n<tr>\n<td>Gross profit</td>\n<td>$34 million</td>\n<td>$1.1 billion</td>\n<td>$2.1 billion</td>\n<td>$3.1 billion</td>\n<td>$5.3 billion</td>\n</tr>\n<tr>\n<td>EBITDA (loss)</td>\n<td>($1.1 billion)</td>\n<td>($637 million)</td>\n<td>$592 million</td>\n<td>$1.7 billion</td>\n<td>$2.9 billion</td>\n</tr>\n<tr>\n<td>Free cash flow</td>\n<td>($2.8 billion)</td>\n<td>($3.3 billion)</td>\n<td>($1.5 billion)</td>\n<td>$321 million</td>\n<td>$1.5 billion</td>\n</tr>\n</tbody>\n</table></div>\n<p>Data source: Lucid Motors. </p>\n<p>Based on the belief that it'll sell about 1,000 vehicles this year, Lucid expects to book $97 million on the top line. But with production ramping up next year, management believes revenue will grow considerably and continue to do so for the next five years.</p>\n<p>It expects the company to consistently generate a gross profit, averaging about 22% from 2023 through 2026. To put this in perspective, consider that over the past five years, Tesla has reported an average gross margin of 19.7%. Profitability on an EBITDA basis, on the other hand, isn't expected to occur until 2024. If Lucid meets its revenue and EBITDA forecasts in 2026, it'll generate an EBITDA margin of about 12.7%, comparable to the 13% EBITDA margin that Tesla has reported on a trailing-12-month basis.</p><div></div>\n<p>In terms of cash flow, Lucid expects that it will allocate $1.9 billion for capital expenditures (capex) in 2023 -- the highest amount over the next five years -- presumably to prepare for the production of its SUV that's planned for that year. Over the next several years, capex spending is expected to taper off, ending with the company spending $573 million on capex in 2026. Consequently, Lucid projects generating $1.52 billion in free cash flow in 2026. If we assume (again) that the company meets its revenue forecast, it will translate to a free cash flow margin of 6.7%, the same margin that Tesla has reported over the past 12 months.</p>\n<h2>Let's be clear about Lucid's prospects</h2>\n<p>After taking a look at management's forecasts for the next five years, it's no wonder that investors are excited about Lucid's prospects. With management espousing such an auspicious view of the future, does this mean that EV investors should drive off with an investment and park the stock in their portfolios? Not quite.</p>\n<p>Competition continues to ramp up with upstart EV manufacturers as well as legacy automakers that are shifting gears and committing to more EV-heavy product lineups. In addition, the company will surely face some bumps in the road over the next few years -- challenges that could result in the company failing to meet its growth projections. Additionally, the fact that management has supplied the projected financial figures is critical to note. The investing landscape is littered with companies that have provided ambitious earnings forecasts to drive investor enthusiasm yet who have failed to achieved their own guidance. Therefore, investors should be circumspect about taking managment's projections at face value, considering an investment with caution and weighting the risks accordingly.</p>\n<div></div>\n</span></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>Where Will Lucid Motors Be in 5 Years?</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\">\nWhere Will Lucid Motors Be in 5 Years?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-28 00:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/28/where-will-lucid-be-in-5-years/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Remember the '80s? If you do, you probably recall the Cola Wars that dominated Super Bowl commercials and other major TV events. While that battle has waned, a new one seems to be rising: one ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/28/where-will-lucid-be-in-5-years/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/28/where-will-lucid-be-in-5-years/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138102985","content_text":"Remember the '80s? If you do, you probably recall the Cola Wars that dominated Super Bowl commercials and other major TV events. While that battle has waned, a new one seems to be rising: one involving electric vehicles (EVs).\nWhile Tesla (NASDAQ:TSLA) holds the pole position as the most recognizable luxury EV maker, Lucid Motors -- soon to merge with the SPAC Churchill Capital IV (NYSE:CCIV) -- is racing ahead in its attempt to challenge the EV king of the road. The upstart manufacturer aired a commercial during the episode of Saturday Night Live that Tesla CEO Elon Musk hosted earlier this month. Besides potential customers, investors have also taken notice of Lucid, so let's look down the road to see what it expects over the next few years. \n\nImage source: Getty Images.\n\nWhat will roll off the assembly line\nWhile no drivers are now seeing any Lucid EVs next to them in traffic, the company expects to have vehicles on the road before 2022 begins. Assembly of the company's first production model, the Lucid Air, will occur at the newly built factory in Arizona in the second half of 2021. Management recently reported that the company has received more than 9,000 reservations for the Lucid Air, and it expects to deliver about 1,000 units of the luxury sedan to customers in North America by the end of the year; deliveries to customers in international markets will commence in 2022.\nOver the next five years, Lucid foresees considerable growth in production, including the introduction of an SUV, Project Gravity, in 2023. With projected Air deliveries rising to 36,000 and Project Gravity deliveries of 12,000, Lucid expects to sell about 48,000 vehicles in 2023.\nBy 2026, however, management expects SUV deliveries of about 134,000 to outnumber Air deliveries (about 42,000). Similar to Tesla's approach, Lucid expects to transition from only selling luxury vehicles to also offering more-affordable models, which it expects to introduce in 2025. Growing from 7,000 in 2025 to 75,000 in 2026, sales of the more-affordable vehicles will help the company (presumably) sell 251,000 vehicles in 2026.\nLooking for the financials in the crystal ball\nIn seeking to grow vehicle deliveries from less than 1,000 in 2021 to 251,000 five years later, management clearly anticipates considerable success in convincing customers to hop into its driver seats. Investors, however, are likely more interested in where the rubber meets the road: the company's financial projections.\n\n\n\nMetric\n2022\n2023\n2024\n2025\n2026\n\n\nRevenue\n$2.2 billion\n$5.5 billion\n$9.9 billion\n$14 billion\n$22.8 billion\n\n\nGross profit\n$34 million\n$1.1 billion\n$2.1 billion\n$3.1 billion\n$5.3 billion\n\n\nEBITDA (loss)\n($1.1 billion)\n($637 million)\n$592 million\n$1.7 billion\n$2.9 billion\n\n\nFree cash flow\n($2.8 billion)\n($3.3 billion)\n($1.5 billion)\n$321 million\n$1.5 billion\n\n\n\nData source: Lucid Motors. \nBased on the belief that it'll sell about 1,000 vehicles this year, Lucid expects to book $97 million on the top line. But with production ramping up next year, management believes revenue will grow considerably and continue to do so for the next five years.\nIt expects the company to consistently generate a gross profit, averaging about 22% from 2023 through 2026. To put this in perspective, consider that over the past five years, Tesla has reported an average gross margin of 19.7%. Profitability on an EBITDA basis, on the other hand, isn't expected to occur until 2024. If Lucid meets its revenue and EBITDA forecasts in 2026, it'll generate an EBITDA margin of about 12.7%, comparable to the 13% EBITDA margin that Tesla has reported on a trailing-12-month basis.\nIn terms of cash flow, Lucid expects that it will allocate $1.9 billion for capital expenditures (capex) in 2023 -- the highest amount over the next five years -- presumably to prepare for the production of its SUV that's planned for that year. Over the next several years, capex spending is expected to taper off, ending with the company spending $573 million on capex in 2026. Consequently, Lucid projects generating $1.52 billion in free cash flow in 2026. If we assume (again) that the company meets its revenue forecast, it will translate to a free cash flow margin of 6.7%, the same margin that Tesla has reported over the past 12 months.\nLet's be clear about Lucid's prospects\nAfter taking a look at management's forecasts for the next five years, it's no wonder that investors are excited about Lucid's prospects. With management espousing such an auspicious view of the future, does this mean that EV investors should drive off with an investment and park the stock in their portfolios? Not quite.\nCompetition continues to ramp up with upstart EV manufacturers as well as legacy automakers that are shifting gears and committing to more EV-heavy product lineups. In addition, the company will surely face some bumps in the road over the next few years -- challenges that could result in the company failing to meet its growth projections. Additionally, the fact that management has supplied the projected financial figures is critical to note. The investing landscape is littered with companies that have provided ambitious earnings forecasts to drive investor enthusiasm yet who have failed to achieved their own guidance. Therefore, investors should be circumspect about taking managment's projections at face value, considering an investment with caution and weighting the risks accordingly.","news_type":1},"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132471933,"gmtCreate":1622110986322,"gmtModify":1622111308392,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/132471933","repostId":"2138866145","repostType":4,"isVote":1,"tweetType":1,"viewCount":207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130748537,"gmtCreate":1621569520429,"gmtModify":1621572643784,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130748537","repostId":"1194977248","repostType":4,"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130748188,"gmtCreate":1621569477844,"gmtModify":1621572643783,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130748188","repostId":"2136115927","repostType":4,"repost":{"id":"2136115927","kind":"highlight","pubTimestamp":1621568280,"share":"https://www.laohu8.com/m/news/2136115927?lang=&edition=full","pubTime":"2021-05-21 11:38","market":"us","language":"en","title":"Down 74% From Its High, Is This Solar Energy Stock a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=2136115927","media":"Motley Fool","summary":"Here's what you need to know about Array Technologies' plummeting stock price.","content":"<p>Shares of solar tracker manufacturer <b>Array Technologies</b> (NASDAQ:ARRY) have undergone a brutal 74% drawdown and are now 67% lower for the year. It's doing much worse than the <b>Invesco Solar ETF</b> (NYSEMKT:TAN), which is down around 30% so far in 2021.</p><p>Solar was <a href=\"https://laohu8.com/S/AONE\">one</a> of the best performing industries in 2020. This year, the narrative has flipped as solar and other renewable stocks are facing a slew of competitors, supply chain issues, and the threat of higher interest rates.</p><p>Here's a look at why shares of Array Technologies tanked -- and where to go from here.</p><h2>A quick primer</h2><p>Before we begin, it's important to understand Array's role in the solar industry. If you follow the sector, you might be familiar with panel players like <b>First Solar</b>, inverter and power optimizer manufacturers like <b>SolarEdge</b>,&nbsp;or microinverter makers like <b><a href=\"https://laohu8.com/S/ENPH\">Enphase Energy</a></b>. Array doesn't compete with any of these companies. Instead, it makes trackers that clamp onto solar panels. Its focus is on utility-scale projects, not residential customers.</p><p>These single-axis trackers adjust panels to optimize performance throughout the day. Over the years, Array has emerged as a leader in the tracking industry. The value proposition is simple: If its trackers can generate more energy for a lower price than the cost of setting up new panels, then they help customers save money.</p><h2>Why shares are plunging</h2><p>Array's sell-off has been swift and brutal, consisting of three key phases over the course of a few months.</p><h3>Phase 1: The sector decline</h3><p>After starting the year above $43 per share, Array quickly began sliding along with the broader solar industry. There were a number of factors that played into the sector's decline, but the big ones were lower earnings expectations, rising interest rates, more competition, and valuation concerns.</p><p>Higher interest rates in particular directly affect Array. They make it more expensive to borrow money, which in turn can lower the profitability of development projects. Array's customers tend to be engineering, procurement, and construction (EPC) firms that bid for major solar projects. Fewer projects mean fewer bids, which in turn can lead to less business for Array.</p><p class=\"t-img-caption\"><img src=\"https://media.ycharts.com/charts/77bace4df750df160f613d218ddd411c.png\" tg-width=\"720\" tg-height=\"468\" referrerpolicy=\"no-referrer\"><span>ARRY data by YCharts.</span></p><h3>Phase 2: The Oaktree Capital sale</h3><p>Shortly after Array reported its fourth-quarter and full-year 2020 results, Oaktree Capital, an early investor in Array Technologies and formerly <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the largest shareholders in the company, sold 35.48 million shares in March. Early investors selling shares tends to be a red flag. What made this sale particularly jarring was its size and valuation.</p><p>Oaktree's sale represented over a fourth of Array's stock float (the number of shares owned by the public). The shares were also sold for an average price of $28, which was below the price of Array stock at the time. A key stakeholder offloading its position for what was then a 52-week low isn't a good look. And sure enough, Array's share price came under more pressure.</p><h3>Phase 3: First-quarter earnings</h3><p>The final blow came last week when Array reported its first-quarter 2021 results. More important than the numbers themselves is the severity in which Array's supply chain is being impacted by higher costs for steel and ocean and truck shipping costs. The company's operating expenses and costs of goods sold (COGS) skyrocketed due to a global shortage in commodities that previously were somewhat stable. Steel accounted for around half of the company's first-quarter COGS.</p><p class=\"t-img-caption\"><img src=\"https://media.ycharts.com/charts/2a7bc7ecbe8307b6890bef19ce2b35e0.png\" tg-width=\"720\" tg-height=\"482\" referrerpolicy=\"no-referrer\"><span>ARRY Cost of Goods Sold (Quarterly) data by YCharts.</span></p><p>Management reiterated in the earnings call that the solar industry as a whole is healthy and that many of the long-term growth drivers remain intact. But the increased cost of steel and other supply chain issues singlehandedly spoiled what could have been quite a profitable quarter. Instead, the company squeaked out a meek $2.9 million in net income. To make matters worse, management suspended its full-year guidance, hinted that second-quarter revenue and profitability could be even lower, and said it was too early to know when the business environment will normalize. It also said it wouldn't provide guidance until shipping and commodity costs become more predictable.</p><h2>What to do now</h2><p>Before the post-earnings plunge, Array looked like a good value based on its previously stated guidance -- which called for revenue in the range of $1.03 billion to $1.13 billion, adjusted EBITDA between $164 million and $180 million, and adjusted net income per share of $0.82 to $0.92. But with that guidance now off the table and profitability in question, Array's short-term prospects look bleak.</p><p>There's no sugarcoating the fact that the company was blindsided by rapidly rising commodity prices. In response, Array has been scrambling to secure contracts with suppliers that will allow it to buy steel at a discount to the spot price It's also looking to raise prices and pass along some of the higher commodity costs to its customers. The problem with raising prices is that customers could simply delay their orders to the second half of the year, when commodity prices are expected to come down.</p><p>It's disappointing to see just how vulnerable Array is to rising steel prices. However, much of the long-term thesis remains intact. Given its reduced share price, Array seems like a good turnaround play. But investors interested in the stock should accept that the road to recovery could take quite some time, not to mention there could be more pain ahead if steel and shipping costs remain high.</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>Down 74% From Its High, Is This Solar Energy Stock a Buy?</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\">\nDown 74% From Its High, Is This Solar Energy Stock a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 11:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/20/down-74-from-its-high-is-this-solar-energy-stock-a/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of solar tracker manufacturer Array Technologies (NASDAQ:ARRY) have undergone a brutal 74% drawdown and are now 67% lower for the year. It's doing much worse than the Invesco Solar ETF (NYSEMKT...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/20/down-74-from-its-high-is-this-solar-energy-stock-a/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARRY":"Array Technologies Inc."},"source_url":"https://www.fool.com/investing/2021/05/20/down-74-from-its-high-is-this-solar-energy-stock-a/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136115927","content_text":"Shares of solar tracker manufacturer Array Technologies (NASDAQ:ARRY) have undergone a brutal 74% drawdown and are now 67% lower for the year. It's doing much worse than the Invesco Solar ETF (NYSEMKT:TAN), which is down around 30% so far in 2021.Solar was one of the best performing industries in 2020. This year, the narrative has flipped as solar and other renewable stocks are facing a slew of competitors, supply chain issues, and the threat of higher interest rates.Here's a look at why shares of Array Technologies tanked -- and where to go from here.A quick primerBefore we begin, it's important to understand Array's role in the solar industry. If you follow the sector, you might be familiar with panel players like First Solar, inverter and power optimizer manufacturers like SolarEdge, or microinverter makers like Enphase Energy. Array doesn't compete with any of these companies. Instead, it makes trackers that clamp onto solar panels. Its focus is on utility-scale projects, not residential customers.These single-axis trackers adjust panels to optimize performance throughout the day. Over the years, Array has emerged as a leader in the tracking industry. The value proposition is simple: If its trackers can generate more energy for a lower price than the cost of setting up new panels, then they help customers save money.Why shares are plungingArray's sell-off has been swift and brutal, consisting of three key phases over the course of a few months.Phase 1: The sector declineAfter starting the year above $43 per share, Array quickly began sliding along with the broader solar industry. There were a number of factors that played into the sector's decline, but the big ones were lower earnings expectations, rising interest rates, more competition, and valuation concerns.Higher interest rates in particular directly affect Array. They make it more expensive to borrow money, which in turn can lower the profitability of development projects. Array's customers tend to be engineering, procurement, and construction (EPC) firms that bid for major solar projects. Fewer projects mean fewer bids, which in turn can lead to less business for Array.ARRY data by YCharts.Phase 2: The Oaktree Capital saleShortly after Array reported its fourth-quarter and full-year 2020 results, Oaktree Capital, an early investor in Array Technologies and formerly one of the largest shareholders in the company, sold 35.48 million shares in March. Early investors selling shares tends to be a red flag. What made this sale particularly jarring was its size and valuation.Oaktree's sale represented over a fourth of Array's stock float (the number of shares owned by the public). The shares were also sold for an average price of $28, which was below the price of Array stock at the time. A key stakeholder offloading its position for what was then a 52-week low isn't a good look. And sure enough, Array's share price came under more pressure.Phase 3: First-quarter earningsThe final blow came last week when Array reported its first-quarter 2021 results. More important than the numbers themselves is the severity in which Array's supply chain is being impacted by higher costs for steel and ocean and truck shipping costs. The company's operating expenses and costs of goods sold (COGS) skyrocketed due to a global shortage in commodities that previously were somewhat stable. Steel accounted for around half of the company's first-quarter COGS.ARRY Cost of Goods Sold (Quarterly) data by YCharts.Management reiterated in the earnings call that the solar industry as a whole is healthy and that many of the long-term growth drivers remain intact. But the increased cost of steel and other supply chain issues singlehandedly spoiled what could have been quite a profitable quarter. Instead, the company squeaked out a meek $2.9 million in net income. To make matters worse, management suspended its full-year guidance, hinted that second-quarter revenue and profitability could be even lower, and said it was too early to know when the business environment will normalize. It also said it wouldn't provide guidance until shipping and commodity costs become more predictable.What to do nowBefore the post-earnings plunge, Array looked like a good value based on its previously stated guidance -- which called for revenue in the range of $1.03 billion to $1.13 billion, adjusted EBITDA between $164 million and $180 million, and adjusted net income per share of $0.82 to $0.92. But with that guidance now off the table and profitability in question, Array's short-term prospects look bleak.There's no sugarcoating the fact that the company was blindsided by rapidly rising commodity prices. In response, Array has been scrambling to secure contracts with suppliers that will allow it to buy steel at a discount to the spot price It's also looking to raise prices and pass along some of the higher commodity costs to its customers. The problem with raising prices is that customers could simply delay their orders to the second half of the year, when commodity prices are expected to come down.It's disappointing to see just how vulnerable Array is to rising steel prices. However, much of the long-term thesis remains intact. Given its reduced share price, Array seems like a good turnaround play. But investors interested in the stock should accept that the road to recovery could take quite some time, not to mention there could be more pain ahead if steel and shipping costs remain high.","news_type":1},"isVote":1,"tweetType":1,"viewCount":257,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108219248,"gmtCreate":1620029509784,"gmtModify":1620034697351,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108219248","repostId":"1135819410","repostType":4,"repost":{"id":"1135819410","kind":"news","pubTimestamp":1619999342,"share":"https://www.laohu8.com/m/news/1135819410?lang=&edition=full","pubTime":"2021-05-03 07:49","market":"us","language":"en","title":"Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1135819410","media":"Barrons","summary":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their fi","content":"<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><b>Tuesday 5/4</b></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><b>Wednesday 5/5</b></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><b>Thursday 5/6</b></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><b>Friday 5/7</b></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</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>Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-03 07:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: ...</p>\n\n<a href=\"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","UBER":"优步",".IXIC":"NASDAQ Composite","PYPL":"PayPal","GM":"通用汽车",".SPX":"S&P 500 Index",".DJI":"道琼斯","TMUS":"T-Mobile US Inc"},"source_url":"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135819410","content_text":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.On Wednesday, Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings. Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on Friday.On the economic calendar this week, the main event will jobs Friday. The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its Services equivalent on Wednesday.Enterprise Products Partners and Estée Lauder release earnings.Merck and Public Storage hold virtual investor days.The Census Bureau reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.Tuesday 5/4Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.Eli Lilly holds a conference call to discuss its sustainability initiatives.Union Pacific holds its 2021 virtual investor day.Wednesday 5/5Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.ADP releases its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.ISM releases its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.Thursday 5/6Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and Zoetishold conference calls to discuss quarterly results.The Department of Labor reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.The Bureau of Labor Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.Friday 5/7The Bureau of Labor Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.Cigna and Liberty Media report earnings.","news_type":1},"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101863229,"gmtCreate":1619877796361,"gmtModify":1619878407253,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Tq","listText":"Tq","text":"Tq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/101863229","repostId":"1114554743","repostType":4,"repost":{"id":"1114554743","kind":"news","pubTimestamp":1619790825,"share":"https://www.laohu8.com/m/news/1114554743?lang=&edition=full","pubTime":"2021-04-30 21:53","market":"us","language":"en","title":"21 brilliant quotes from legendary investor and polymath Charlie Munger","url":"https://stock-news.laohu8.com/highlight/detail?id=1114554743","media":"Yahoo","summary":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May","content":"<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.</p>\n<p>In a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.</p>\n<p>While Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”</p>\n<p>And so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:</p>\n<p><b>On learning</b></p>\n<p>“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”<i>—Poor Charlie's Almanack</i></p>\n<p>\"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"<i>—2021 Daily Journal AGM</i></p>\n<p>“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”<i>—2007 USC Law School Commencement Address</i></p>\n<p>“I think that a life properly lived is just learn, learn, learn all the time.”<i>—2017 Berkshire Hathaway Annual Meeting</i></p>\n<p>“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”<i>—Poor Charlie's Almanack</i></p>\n<p>“Live within your income and save so that you can invest. Learn what you need to learn.”<b><i>—</i></b><i>Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</i></p>\n<p><b>On investing and business:</b></p>\n<p>“Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”<i>—Poor Charlie's Almanack</i></p>\n<p>“There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —<i>Worldly Wisdom by Charlie Munger 1995 - 1998</i></p>\n<p>“I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM</p>\n<p>“Mimicking the herd invites regression to the mean (merely average performance).”<i>—Poor Charlie's Almanack</i></p>\n<p>“The world is full of foolish gamblers and they will not do as well as the patient investors.”<i>—2018 Weekly in Stocks interview</i></p>\n<p>“It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”<i>—Poor Charlie's Almanack</i></p>\n<p>“I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —<i>2021 Daily Journal AGM</i></p>\n<p>\"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"<i>—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department</i></p>\n<p>\"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management &amp; Business,\" 1994 speech at USC Business School</p>\n<p>“Capitalism without failure is like religion without hell.” —<i>Tao of Charlie Munger</i></p>\n<p><b>On mental models and decision-making frameworks:</b></p>\n<p>“We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”<i>—2010 Berkshire Hathaway Annual Meeting</i></p>\n<p>“I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —<i>2020 CalTech Distinguished Alumni Award interview</i></p>\n<p><b>On life:</b></p>\n<p>“I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”<i>—1997 Berkshire Hathaway Annual Meeting</i></p>\n<p>\"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"<i>—2007 USC Law School Commencement Address</i></p>\n<p>“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”<i>—2019 CNBC interview</i></p>","source":"lsy1584348713084","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>21 brilliant quotes from legendary investor and polymath Charlie Munger</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\">\n21 brilliant quotes from legendary investor and polymath Charlie Munger\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 21:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html><strong>Yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114554743","content_text":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.\nIn a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.\nWhile Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”\nAnd so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:\nOn learning\n“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”—Poor Charlie's Almanack\n\"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"—2021 Daily Journal AGM\n“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”—2007 USC Law School Commencement Address\n“I think that a life properly lived is just learn, learn, learn all the time.”—2017 Berkshire Hathaway Annual Meeting\n“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”—Poor Charlie's Almanack\n“Live within your income and save so that you can invest. Learn what you need to learn.”—Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger\nOn investing and business:\n“Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”—Poor Charlie's Almanack\n“There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —Worldly Wisdom by Charlie Munger 1995 - 1998\n“I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM\n“Mimicking the herd invites regression to the mean (merely average performance).”—Poor Charlie's Almanack\n“The world is full of foolish gamblers and they will not do as well as the patient investors.”—2018 Weekly in Stocks interview\n“It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”—Poor Charlie's Almanack\n“I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —2021 Daily Journal AGM\n\"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department\n\"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business,\" 1994 speech at USC Business School\n“Capitalism without failure is like religion without hell.” —Tao of Charlie Munger\nOn mental models and decision-making frameworks:\n“We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”—2010 Berkshire Hathaway Annual Meeting\n“I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —2020 CalTech Distinguished Alumni Award interview\nOn life:\n“I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”—1997 Berkshire Hathaway Annual Meeting\n\"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"—2007 USC Law School Commencement Address\n“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”—2019 CNBC interview","news_type":1},"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":101863229,"gmtCreate":1619877796361,"gmtModify":1619878407253,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Tq","listText":"Tq","text":"Tq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/101863229","repostId":"1114554743","repostType":4,"repost":{"id":"1114554743","kind":"news","pubTimestamp":1619790825,"share":"https://www.laohu8.com/m/news/1114554743?lang=&edition=full","pubTime":"2021-04-30 21:53","market":"us","language":"en","title":"21 brilliant quotes from legendary investor and polymath Charlie Munger","url":"https://stock-news.laohu8.com/highlight/detail?id=1114554743","media":"Yahoo","summary":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May","content":"<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.</p>\n<p>In a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.</p>\n<p>While Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”</p>\n<p>And so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:</p>\n<p><b>On learning</b></p>\n<p>“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”<i>—Poor Charlie's Almanack</i></p>\n<p>\"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"<i>—2021 Daily Journal AGM</i></p>\n<p>“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”<i>—2007 USC Law School Commencement Address</i></p>\n<p>“I think that a life properly lived is just learn, learn, learn all the time.”<i>—2017 Berkshire Hathaway Annual Meeting</i></p>\n<p>“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”<i>—Poor Charlie's Almanack</i></p>\n<p>“Live within your income and save so that you can invest. Learn what you need to learn.”<b><i>—</i></b><i>Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger</i></p>\n<p><b>On investing and business:</b></p>\n<p>“Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”<i>—Poor Charlie's Almanack</i></p>\n<p>“There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —<i>Worldly Wisdom by Charlie Munger 1995 - 1998</i></p>\n<p>“I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM</p>\n<p>“Mimicking the herd invites regression to the mean (merely average performance).”<i>—Poor Charlie's Almanack</i></p>\n<p>“The world is full of foolish gamblers and they will not do as well as the patient investors.”<i>—2018 Weekly in Stocks interview</i></p>\n<p>“It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”<i>—Poor Charlie's Almanack</i></p>\n<p>“I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —<i>2021 Daily Journal AGM</i></p>\n<p>\"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"<i>—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department</i></p>\n<p>\"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management &amp; Business,\" 1994 speech at USC Business School</p>\n<p>“Capitalism without failure is like religion without hell.” —<i>Tao of Charlie Munger</i></p>\n<p><b>On mental models and decision-making frameworks:</b></p>\n<p>“We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”<i>—2010 Berkshire Hathaway Annual Meeting</i></p>\n<p>“I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —<i>2020 CalTech Distinguished Alumni Award interview</i></p>\n<p><b>On life:</b></p>\n<p>“I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”<i>—1997 Berkshire Hathaway Annual Meeting</i></p>\n<p>\"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"<i>—2007 USC Law School Commencement Address</i></p>\n<p>“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”<i>—2019 CNBC interview</i></p>","source":"lsy1584348713084","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>21 brilliant quotes from legendary investor and polymath Charlie Munger</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\">\n21 brilliant quotes from legendary investor and polymath Charlie Munger\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 21:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html><strong>Yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based ...</p>\n\n<a href=\"https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/21-brilliant-quotes-from-legendary-investor-and-polymath-charlie-munger-133315723.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114554743","content_text":"Berkshire Hathaway’s (BRK-A,BRK-B) annual shareholders meeting will take place in Los Angeles on May 1, with Warren Buffett reuniting with his long-time business partner Charlie Munger, who is based in California, after a year apart.\nIn a normal year, thousands of people make the pilgrimage to Omaha, Nebraska, to listen to Buffett, 90, and Munger, 97, answer questions for hours as they sip Coca-Colas and nibble on peanut brittle from See's Candies. Munger, Berkshire Hathaway’s vice chairman, is adored for his expansive knowledge and his maxims about business, investing, and life as well as his colorful language and humor. Famously, he would often say, after Buffett finished speaking, “I have nothing further to add.” Last year, due to the coronavirus pandemic, the Berkshire Hathaway annual meeting went virtual, with Buffett answering questions from afar in an empty CHI Health Center Arena without Munger.\nWhile Buffett is the more public and recognizable face for Berkshire Hathaway, the iconic conglomerate as it stands today was built to Munger’s blueprint of moving beyond so-called “cigar-butt” investing to “buying wonderful businesses at fair prices,” according to a shareholder letter commemorating the company’s 50th anniversary. Though Buffett credits Munger for his success, he also emphasizes that his friend and business partner has made him a “better person.”\nAnd so to commemorate the reunion of these two investing legends and long-time partners and friends, we’ve compiled some of our favorite Munger quotes:\nOn learning\n“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads — and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.”—Poor Charlie's Almanack\n\"Without the method of learning, you're like a one-legged man in an ass-kicking contest. It's just not going to work very well.\"—2021 Daily Journal AGM\n“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than when they got up and boy does that help—particularly when you have a long run ahead of you.”—2007 USC Law School Commencement Address\n“I think that a life properly lived is just learn, learn, learn all the time.”—2017 Berkshire Hathaway Annual Meeting\n“Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to hell with them.”—Poor Charlie's Almanack\n“Live within your income and save so that you can invest. Learn what you need to learn.”—Damn Right! : Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger\nOn investing and business:\n“Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.”—Poor Charlie's Almanack\n“There are huge advantages for an individual to get into a position where you make a few great investments and just sit on your ass: You are paying less to brokers. You are listening to less nonsense. And if it works, the governmental tax system gives you an extra 1, 2 or 3 percentage points per annum compounded.” —Worldly Wisdom by Charlie Munger 1995 - 1998\n“I have a friend who’s a fisherman he says, ‘I have a simple rule for success in fishing. Fish where the fish are.’ You want to fish where the bargains are. That simple. If the fishing is really lousy where you are you should probably look for another place to fish.”—2020 Daily Journal AGM\n“Mimicking the herd invites regression to the mean (merely average performance).”—Poor Charlie's Almanack\n“The world is full of foolish gamblers and they will not do as well as the patient investors.”—2018 Weekly in Stocks interview\n“It takes character to sit with all that cash and to do nothing. I didn’t get to be where I am by going after mediocre opportunities.”—Poor Charlie's Almanack\n“I find it much easier to find four or five investments where I have a pretty reasonable chance of being right that they're way above average. I think it's much easier to find five than it is to find 100. I think the people who argue for all this diversification — by the way, I call it ‘deworsification’ — which I copied from somebody — and I'm way more comfortable owning two or three stocks which I think I know something about and where I think I have an advantage.” —2021 Daily Journal AGM\n\"Usually, I don’t use formal projections. I don’t let people do them for me because I don’t like throwing up on the desk, but I see them made in a very foolish way all the time, and many people believe in them, no matter how foolish they are. It’s an effective sales technique in America to put a foolish projection on a desk.\"—2003 Herb Kay Undergraduate Lecture University of California, Santa Barbara Economics Department\n\"I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, 'My God, they're purple and green. Do fish really take these lures?' And he said, 'Mister, I don't sell to fish.'\" —\"A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business,\" 1994 speech at USC Business School\n“Capitalism without failure is like religion without hell.” —Tao of Charlie Munger\nOn mental models and decision-making frameworks:\n“We’ve had enough good sense when something is working very well to keep doing it. I’d say we’re demonstrating what might be called the fundamental algorithm of life — repeat what works.”—2010 Berkshire Hathaway Annual Meeting\n“I spent a lifetime trying to avoid my own mental biases. A.) I rub my own nose into my own mistakes. B.) I try and keep it simple and fundamental as much as I can. And, I like the engineering concept of a margin of safety. I’m a very blocking and tackling kind of thinker. I just try to avoid being stupid. I have a way of handling a lot of problems — I put them in what I call my ‘too hard pile,’ and just leave them there. I’m not trying to succeed in my ‘too hard pile.’” —2020 CalTech Distinguished Alumni Award interview\nOn life:\n“I think life is a whole series of opportunity costs. You know, you got to marry the best person who is convenient to find who will have you. Investment is much the same sort of a process.”—1997 Berkshire Hathaway Annual Meeting\n\"Another thing, of course, is life will have terrible blows, horrible blows, unfair blows. Doesn’t matter. And some people recover and others don’t. And there I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion. That is a very good idea.\"—2007 USC Law School Commencement Address\n“You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles, you deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better.”—2019 CNBC interview","news_type":1},"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137218730,"gmtCreate":1622349565120,"gmtModify":1622354147985,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/137218730","repostId":"2138102985","repostType":2,"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132471933,"gmtCreate":1622110986322,"gmtModify":1622111308392,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/132471933","repostId":"2138866145","repostType":4,"isVote":1,"tweetType":1,"viewCount":207,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130748537,"gmtCreate":1621569520429,"gmtModify":1621572643784,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130748537","repostId":"1194977248","repostType":4,"repost":{"id":"1194977248","kind":"news","pubTimestamp":1621566816,"share":"https://www.laohu8.com/m/news/1194977248?lang=&edition=full","pubTime":"2021-05-21 11:13","market":"us","language":"en","title":"Now Is the Time to Buy Virgin Galactic","url":"https://stock-news.laohu8.com/highlight/detail?id=1194977248","media":"fool","summary":"Warren Buffett says to be greedy when others are fearful, but that can be extremely hard to do in re","content":"<p>Warren Buffett says to be greedy when others are fearful, but that can be extremely hard to do in reality. When stocks are falling, there's normally a reason. But sometimes that reason was a short-term phenomenon, and the long-term investment thesis is still intact.</p><p>We're seeing a lot of fear in&nbsp;<b>Virgin Galactic</b>(NYSE:SPCE)right now, with the stock down 73% from its all-time high andconcerns about its test flight schedule and insider selling. These are all valid concerns, but it's important to put them into context against a long-term view of the company and its stock, because this could be agrowth stockfor decades to come.</p><p>Delays, EMI, and engineering mumbo jumbo</p><p>The biggest reason Virgin Galactic stock has fallen over the last few months is because of delays in its flight tests, and thus its commercial space flights. Investors never like delays, especially when it's somewhat open-ended what the timeline is going to be in the future.</p><p>To its credit, in the recent first-quarter conference call Virgin Galactic's management went into extraordinary detail to highlight what it is fixing on the Unity spacecraft and how the fixes are going.</p><p>When a December flight showed that a rocket booster didn't reach space as planned, it caught investors off guard. Delays were announced, and in February it was revealed that electromagnetic interference, or EMI, was the cause of the rocket booster not igniting. EMI is something that aerospace engineers have to worry about regularly, and in this case a new computer on Unity caused more EMI than expected, resulting in the rocket motor computer losing connection.</p><p>As with any problem on a new aircraft, once the issue was diagnosed, engineers and technicians went about fixing the issue and testing the results. Some hardware and shielding changes resulted in a big improvement, as Mike Moses, president of space missions and safety, said on the conference call:</p><blockquote>As of today, the final installation of the flight hardware is complete, and an end to end checkouts, we were able to compare the current EMI to previous levels, and we can see that we've significantly reduced the EMI on the order of 10 to 20 decibels.</blockquote><p>He went on to say that EMI intensity was reduced by over 90%, so this mission was accomplished as planned.</p><p>The more surprising announcement during the conference call was that the Eve aircraft, which is the aircraft Unity is attached to and brings to altitude before detaching, saw a \"potential wear and tear issue.\" As with any aircraft, there are inspections before and after flight, as well as regularly scheduled maintenance. In this instance, some regular maintenance may need to be moved up, with Moses saying:</p><blockquote>Following this last inspection, we identified an item on our maintenance calendar that needs further study to determine whether we need to take action now instead of the fall as planned. Because this issue just emerged at the end of last week, we are still determining what steps may be necessary to address it. While this may impact our flight test schedule, I want to emphasize that this is the nature of a test flight program. And we're going to take the time we need before moving forward.</blockquote><p>There are a few takeaways I have from this delay. One is that the rocket failure in December didn't result in any casualties because safety features allowed the aircraft to glide back to earth. This shows safety designed into the system. A second is that Virgin Galactic is taking its time completing fixes and running tests before further flights. For long-term investors, this is a good thing. The absolute worst thing that could happen to Virgin Galactic is a spacecraft failure during flight, which could cost lives and literally sink the company. Safety should be first,whether that means weeks or months of delays or not. Third, and maybe most important, this is what happens in cutting-edge aviation. Running into problems, making fixes, and overcoming challenges are par for the course. It's just not normal that these challenges happen as openly and publicly as they are at Virgin Galactic.</p><p>There may have been a lot of engineering detail in the first-quarter conference call. But as an engineer, I heard that there were problems the company found during a flight, as we should expect, and they're being fixed. I also heard that safety systems worked as planned and will continue to be a priority, even as the stock falls. As a shareholder, I think these are the right priorities, and we should expect Virgin Galactic to have delays from time to time as it learns more about flying to space.</p><p>My biggest worry</p><p>Delays don't worry me if they improve the safety and performance of Virgin Galactic's spacecraft long-term.</p><p>What does worry me is Virgin Galactic founder Sir Richard Branson and Chairman of the Board of Directors Chamath Palihapitiya selling stock over the last few months. Palihapitiya sold about $213 million of Virgin Galactic shares in March, and has sold about10 million shares he controls since December 2020. Branson could sell 25 million shares, or 22% of his stake in the company, as a result of a filing in May, which follows $150 million in sales in April.</p><p>As insiders and board members, Palihapitiya and Branson are privy to more information about what's going on internally at Virgin Galactic than we are as public investors. And if they're selling it's a red flag for me, even if they give compelling reasons to do so publicly.</p><p>The bottom line</p><p>Given everything we know about Virgin Galactic today, I see little reason to change the long-term outlook for this potentially disruptive stock. Here are a few things to keep in mind:</p><ul><li>Safety should be the #1 priority, even if that means delays.</li><li>A delay on the order of a few weeks or months doesn't affect Virgin Galactic's potential market long-term.</li><li>Problems, fixes, delays, and learning are all par for the course in a new industry like space travel, and should be seen as opportunities for improvement.</li><li>There is no indication that reservation holders are jumping ship.</li></ul><p>If you thought Virgin Galactic was a great stock with enormous potential to disrupt how we think about travel at $50 per share, then you should love it at $17 per share. I don't see anything that's changed about the company's long-term outlook in the last few months except that fear of the unknown has taken over the market. But the unknown is exactly what investors signed up for in this completely uncharted space tourism business.</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>Now Is the Time to Buy Virgin Galactic</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\">\nNow Is the Time to Buy Virgin Galactic\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 11:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/20/now-is-the-time-to-buy-virgin-galactic/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett says to be greedy when others are fearful, but that can be extremely hard to do in reality. When stocks are falling, there's normally a reason. But sometimes that reason was a short-...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/20/now-is-the-time-to-buy-virgin-galactic/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"source_url":"https://www.fool.com/investing/2021/05/20/now-is-the-time-to-buy-virgin-galactic/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194977248","content_text":"Warren Buffett says to be greedy when others are fearful, but that can be extremely hard to do in reality. When stocks are falling, there's normally a reason. But sometimes that reason was a short-term phenomenon, and the long-term investment thesis is still intact.We're seeing a lot of fear in Virgin Galactic(NYSE:SPCE)right now, with the stock down 73% from its all-time high andconcerns about its test flight schedule and insider selling. These are all valid concerns, but it's important to put them into context against a long-term view of the company and its stock, because this could be agrowth stockfor decades to come.Delays, EMI, and engineering mumbo jumboThe biggest reason Virgin Galactic stock has fallen over the last few months is because of delays in its flight tests, and thus its commercial space flights. Investors never like delays, especially when it's somewhat open-ended what the timeline is going to be in the future.To its credit, in the recent first-quarter conference call Virgin Galactic's management went into extraordinary detail to highlight what it is fixing on the Unity spacecraft and how the fixes are going.When a December flight showed that a rocket booster didn't reach space as planned, it caught investors off guard. Delays were announced, and in February it was revealed that electromagnetic interference, or EMI, was the cause of the rocket booster not igniting. EMI is something that aerospace engineers have to worry about regularly, and in this case a new computer on Unity caused more EMI than expected, resulting in the rocket motor computer losing connection.As with any problem on a new aircraft, once the issue was diagnosed, engineers and technicians went about fixing the issue and testing the results. Some hardware and shielding changes resulted in a big improvement, as Mike Moses, president of space missions and safety, said on the conference call:As of today, the final installation of the flight hardware is complete, and an end to end checkouts, we were able to compare the current EMI to previous levels, and we can see that we've significantly reduced the EMI on the order of 10 to 20 decibels.He went on to say that EMI intensity was reduced by over 90%, so this mission was accomplished as planned.The more surprising announcement during the conference call was that the Eve aircraft, which is the aircraft Unity is attached to and brings to altitude before detaching, saw a \"potential wear and tear issue.\" As with any aircraft, there are inspections before and after flight, as well as regularly scheduled maintenance. In this instance, some regular maintenance may need to be moved up, with Moses saying:Following this last inspection, we identified an item on our maintenance calendar that needs further study to determine whether we need to take action now instead of the fall as planned. Because this issue just emerged at the end of last week, we are still determining what steps may be necessary to address it. While this may impact our flight test schedule, I want to emphasize that this is the nature of a test flight program. And we're going to take the time we need before moving forward.There are a few takeaways I have from this delay. One is that the rocket failure in December didn't result in any casualties because safety features allowed the aircraft to glide back to earth. This shows safety designed into the system. A second is that Virgin Galactic is taking its time completing fixes and running tests before further flights. For long-term investors, this is a good thing. The absolute worst thing that could happen to Virgin Galactic is a spacecraft failure during flight, which could cost lives and literally sink the company. Safety should be first,whether that means weeks or months of delays or not. Third, and maybe most important, this is what happens in cutting-edge aviation. Running into problems, making fixes, and overcoming challenges are par for the course. It's just not normal that these challenges happen as openly and publicly as they are at Virgin Galactic.There may have been a lot of engineering detail in the first-quarter conference call. But as an engineer, I heard that there were problems the company found during a flight, as we should expect, and they're being fixed. I also heard that safety systems worked as planned and will continue to be a priority, even as the stock falls. As a shareholder, I think these are the right priorities, and we should expect Virgin Galactic to have delays from time to time as it learns more about flying to space.My biggest worryDelays don't worry me if they improve the safety and performance of Virgin Galactic's spacecraft long-term.What does worry me is Virgin Galactic founder Sir Richard Branson and Chairman of the Board of Directors Chamath Palihapitiya selling stock over the last few months. Palihapitiya sold about $213 million of Virgin Galactic shares in March, and has sold about10 million shares he controls since December 2020. Branson could sell 25 million shares, or 22% of his stake in the company, as a result of a filing in May, which follows $150 million in sales in April.As insiders and board members, Palihapitiya and Branson are privy to more information about what's going on internally at Virgin Galactic than we are as public investors. And if they're selling it's a red flag for me, even if they give compelling reasons to do so publicly.The bottom lineGiven everything we know about Virgin Galactic today, I see little reason to change the long-term outlook for this potentially disruptive stock. Here are a few things to keep in mind:Safety should be the #1 priority, even if that means delays.A delay on the order of a few weeks or months doesn't affect Virgin Galactic's potential market long-term.Problems, fixes, delays, and learning are all par for the course in a new industry like space travel, and should be seen as opportunities for improvement.There is no indication that reservation holders are jumping ship.If you thought Virgin Galactic was a great stock with enormous potential to disrupt how we think about travel at $50 per share, then you should love it at $17 per share. I don't see anything that's changed about the company's long-term outlook in the last few months except that fear of the unknown has taken over the market. But the unknown is exactly what investors signed up for in this completely uncharted space tourism business.","news_type":1},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130748188,"gmtCreate":1621569477844,"gmtModify":1621572643783,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130748188","repostId":"2136115927","repostType":4,"isVote":1,"tweetType":1,"viewCount":257,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108219248,"gmtCreate":1620029509784,"gmtModify":1620034697351,"author":{"id":"3578868906408022","authorId":"3578868906408022","name":"DylanKua","avatar":"https://static.tigerbbs.com/7a402f78c548fdf2746409dc81488d8c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578868906408022","authorIdStr":"3578868906408022"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108219248","repostId":"1135819410","repostType":4,"repost":{"id":"1135819410","kind":"news","pubTimestamp":1619999342,"share":"https://www.laohu8.com/m/news/1135819410?lang=&edition=full","pubTime":"2021-05-03 07:49","market":"us","language":"en","title":"Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1135819410","media":"Barrons","summary":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their fi","content":"<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><b>Tuesday 5/4</b></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><b>Wednesday 5/5</b></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><b>Thursday 5/6</b></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><b>Friday 5/7</b></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</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>Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-03 07:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: ...</p>\n\n<a href=\"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","UBER":"优步",".IXIC":"NASDAQ Composite","PYPL":"PayPal","GM":"通用汽车",".SPX":"S&P 500 Index",".DJI":"道琼斯","TMUS":"T-Mobile US Inc"},"source_url":"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135819410","content_text":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.On Wednesday, Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings. Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on Friday.On the economic calendar this week, the main event will jobs Friday. The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its Services equivalent on Wednesday.Enterprise Products Partners and Estée Lauder release earnings.Merck and Public Storage hold virtual investor days.The Census Bureau reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.Tuesday 5/4Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.Eli Lilly holds a conference call to discuss its sustainability initiatives.Union Pacific holds its 2021 virtual investor day.Wednesday 5/5Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.ADP releases its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.ISM releases its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.Thursday 5/6Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and Zoetishold conference calls to discuss quarterly results.The Department of Labor reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.The Bureau of Labor Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.Friday 5/7The Bureau of Labor Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.Cigna and Liberty Media report earnings.","news_type":1},"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}