VernardChin的个人主页 - 老虎社区

VernardChin

VernardChin

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12关注

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0勋章

2021-04-19

Netflix [比心]

抱歉，原内容已删除

2021-04-18

Is it time to move your money into Crytocurrency! [哇塞]

$544 Billion In Options Expire Today: Here's What Will Move

2021-04-16

I think it is just a pullback given that blockchain has been rally for the past week and hit high. Continue to hold no panic [得意]

U.S. stocks gained in Friday open. Blockchain stocks fell

2021-04-14

[财迷]

Tesla Focus Shifts To Margins

2021-04-13

Good news for tech stocks. [财迷]

U.S. Treasury yields slip despite surge in inflation to 2 1/2 -year high

2021-04-13

Just about to take flight, in the end [喷血]

Johnson & Johnson dipped about 3% in premarket trading

2021-04-12

$Tesla Motors(TSLA)$Looking good [贱笑]

2021-04-12

Worry news = good news [开心]

Apple's Upcoming High-End iPad To Face Low Initial Supplies Over Production Woes: Report

2021-04-12

Btc has been holding well for the past few days. Vroom vroom vroom! [得意] [比心]

Blockchain stocks rose in premarket trading

2021-04-10

Considering ARK ETF [思考]

抱歉，原内容已删除

2021-04-10

Can buy some healthcare stocks [财迷]

Biden Boosts Health, Education in $1.52 Trillion Budget Request

2021-04-09

Go go go [哇塞]

S&P 500 hits another all-time high as Big Tech stocks rally

2021-04-09

Hopefully is a good indication[财迷]

Charlie Munger Just Bought Alibaba Stock: Should You?

2021-04-02

When is Alibaba moving? [傲娇]

抱歉，原内容已删除

2021-03-22

Good correction for buying more [财迷]

去老虎APP查看更多动态

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[哇塞]&nbsp;","listText":"Is it time to move your money into Crytocurrency! [哇塞]&nbsp;","text":"Is it time to move your money into Crytocurrency! [哇塞]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/379291001","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","pubTimestamp":1618582708,"share":"https://www.laohu8.com/m/news/1175692875?lang=&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p>How to trade this?</p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><blockquote>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b></blockquote><p>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p>","source":"lsy1583725640930","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>$544 Billion In Options Expire Today: Here's What Will Move</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n$544 Billion In Options Expire Today: Here's What Will Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":783,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":370645550,"gmtCreate":1618583057770,"gmtModify":1634291927216,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"I think it is just a pullback given that blockchain has been rally for the past week and hit high. Continue to hold no panic [得意]&nbsp;","listText":"I think it is just a pullback given that blockchain has been rally for the past week and hit high. Continue to hold no panic [得意]&nbsp;","text":"I think it is just a pullback given that blockchain has been rally for the past week and hit high. Continue to hold no panic [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/370645550","repostId":"1145242426","repostType":4,"repost":{"id":"1145242426","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618579826,"share":"https://www.laohu8.com/m/news/1145242426?lang=&edition=full","pubTime":"2021-04-16 21:30","market":"us","language":"en","title":"U.S. stocks gained in Friday open. Blockchain stocks fell","url":"https://stock-news.laohu8.com/highlight/detail?id=1145242426","media":"Tiger Newspress","summary":"(April 16) U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports","content":"<p>(April 16)&nbsp;U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports and corporate results remained strong. S&amp;P 500 edges higher to another all-time high, on pace for 4th straight positive week.</p><p>The Dow Jones Industrial Average added 157 points, 0.5%, to open near 34,193, while the S&amp;P 500 added 15 points, 0.4%, starting trading near 4,185. Both indexes clinched record closes Thursday. The Nasdaq Composite index,&nbsp; meanwhile, ticked up 0.1%, about 15 points, to trade near 14,053.</p><p>The pace of residential construction quickened in March, according to the most recent housing starts report and Morgan Stanley said profit doubled in the first quarter, topping analyst expectations.</p><p>Bitcoin slides,&nbsp;Blockchain stocks fell.&nbsp;</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86da6884447eed1c7e8c7b86db77eb7f\" tg-width=\"313\" tg-height=\"361\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 09:37</span></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>U.S. stocks gained in Friday open. Blockchain stocks fell</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\">\nU.S. stocks gained in Friday open. Blockchain stocks fell\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-16 21:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April 16)&nbsp;U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports and corporate results remained strong. S&amp;P 500 edges higher to another all-time high, on pace for 4th straight positive week.</p><p>The Dow Jones Industrial Average added 157 points, 0.5%, to open near 34,193, while the S&amp;P 500 added 15 points, 0.4%, starting trading near 4,185. Both indexes clinched record closes Thursday. The Nasdaq Composite index,&nbsp; meanwhile, ticked up 0.1%, about 15 points, to trade near 14,053.</p><p>The pace of residential construction quickened in March, according to the most recent housing starts report and Morgan Stanley said profit doubled in the first quarter, topping analyst expectations.</p><p>Bitcoin slides,&nbsp;Blockchain stocks fell.&nbsp;</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86da6884447eed1c7e8c7b86db77eb7f\" tg-width=\"313\" tg-height=\"361\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 09:37</span></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145242426","content_text":"(April 16) U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports and corporate results remained strong. S&P 500 edges higher to another all-time high, on pace for 4th straight positive week.The Dow Jones Industrial Average added 157 points, 0.5%, to open near 34,193, while the S&P 500 added 15 points, 0.4%, starting trading near 4,185. Both indexes clinched record closes Thursday. The Nasdaq Composite index,  meanwhile, ticked up 0.1%, about 15 points, to trade near 14,053.The pace of residential construction quickened in March, according to the most recent housing starts report and Morgan Stanley said profit doubled in the first quarter, topping analyst expectations.Bitcoin slides, Blockchain stocks fell. *Source From Tiger Trade, EST 09:37","news_type":1},"isVote":1,"tweetType":1,"viewCount":424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":344879225,"gmtCreate":1618401594267,"gmtModify":1634293213670,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/344879225","repostId":"1126332570","repostType":2,"repost":{"id":"1126332570","pubTimestamp":1618372916,"share":"https://www.laohu8.com/m/news/1126332570?lang=&edition=full","pubTime":"2021-04-14 12:01","market":"us","language":"en","title":"Tesla Focus Shifts To Margins","url":"https://stock-news.laohu8.com/highlight/detail?id=1126332570","media":"seekingalpha","summary":"Analysts expect non-GAAP profit to surge this year.Short-term situation could see a number of pressures.Stock at a key technical point right now.One of the largest criticisms of electric vehicle maker Tesla  has been its inability to generate meaningful profits. Despite having a large share of the luxury EV market, the company has posted several years of significant losses in its history. Investors are now hoping that the days of red ink are behind us, which is why the focus must now shift to ke","content":"<p><b>Summary</b></p>\n<ul>\n <li>Analysts expect non-GAAP profit to surge this year.</li>\n <li>Short-term situation could see a number of pressures.</li>\n <li>Stock at a key technical point right now.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00f300f39d8829850b2af6f83fa43c9a\" tg-width=\"1536\" tg-height=\"999\"><span>Photo by Urupong/iStock via Getty Images</span></p>\n<p>One of the largest criticisms of electric vehicle maker Tesla (TSLA) has been its inability to generate meaningful profits. Despite having a large share of the luxury EV market, the company has posted several years of significant losses in its history. Investors are now hoping that the days of red ink are behind us, which is why the focus must now shift to key margin metrics.</p>\n<p>Tesla's GAAP and non-GAAP numbers have always varied wildly due to stock-based compensation. That gap has been quite large recently thanks to Elon Musk's large bonus plan hitting a number of tranches in 2020. Analysts primarily use the adjusted numbers, and Tesla delivered $2.24 in adjusted EPS last year. As the graphic below shows, estimates for this year have been rising for more than a year, with the current average of $4.22 up a bit from the $3.98 average seen at the end of last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8efe7dc5dee0d26aa4c3862123e6bddf\" tg-width=\"385\" tg-height=\"103\"><span>Source: Seeking Alpha Tesla analyst estimates page</span></p>\n<p>It will be very interesting to see the margin numbers reported when Tesla earnings come out on Monday, April 26th. While the company&nbsp;did beat estimates&nbsp;for Q1 production and deliveries, there was no production of the Model S or X in the quarter. Elon Musk had said on the Q1 conference call that the refreshed versions of those luxury models were in production already and would be delivered in February, but that obviously did not happen. With these being higher margin vehicles in the past, you would figure overall margins will be hurt.</p>\n<p>Q1 also saw sharp rises in key commodity prices like nickel and cobalt, as well as the initial ramp of the Model Y made in China. Tesla skeptics also believe that highly profitable credit sales will fade over time, but it remains to be seen in the short term how much they will contribute. There also were a number of price cuts during the quarter, like for the Model 3 in Japan and a number of European countries. For a time, Tesla also cut prices in the US on the Model Y and also had a much lower priced Standard Range variant that was sold for part of the quarter.</p>\n<p>As the graphic below details, Tesla's GAAP automotive gross margins have mostly been in the mid 20s percentage-wise over the past five quarters. Credit sales have helped quite a bit, but don't forget that this is only just part of the business. Tesla's energy business has seen low margins or negative margins in recent periods, and the services/other segment loses plenty of money each quarter. Overall for Q4 2020, the company's total GAAP gross margin figure was 19.23%, nearly 500 basis points below the automotive segment's GAAP gross margin figure.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c951c203e6189adb5a1cae8b1a41489e\" tg-width=\"640\" tg-height=\"57\"><span>Source: Tesla Q4 2020 investor letter</span></p>\n<p>With almost no Model S/X vehicles sold during the period, company-wide average selling prices will certainly decline. The key question is was Tesla able to keep costs at a reasonable level, or are we going to see a significant drop in gross margins? Management spoke&nbsp;on the conference call&nbsp;about a number of supposedly one-time items that were headwinds in Q4, which if they truly dissipate could really help things in Q1.</p>\n<p>On the operating side, there shouldn't be as much expense given a shorter quarter, less coming from the CEO pay package, and Q4 having a larger part of expenses relating to the employee performance grant process. As a point of reference, the&nbsp;current estimates&nbsp;call for $10.12 billion in Q1 revenue and $0.74 in non-GAAP EPS, compared to $10.74 billion and $0.80 in Q4 2020.</p>\n<p>While the Street expects more than $4 in earnings this year, that number is forecast to surge into the low-double digits by 2024. It certainly helps that expected sharply rising deliveries over time should result in more revenue. However, if there are too many price cuts needed to achieve that growth, whether it be to competition or other factors like global economics, certain margin targets will not be met.</p>\n<p>Don't forget, Tesla's share count is rising over time, which is pressuring the EPS forecast for a given level of net income. The unit sales surge in Japan&nbsp;is a good example&nbsp;of how things can change, as it was driven by price cuts of 13%-17% for the Model 3. I can certainly sell more dollar bills for 90 cents each than I can for 95 cents, but it won't be good for my bottom line.</p>\n<p>As for Tesla shares, they are at a very interesting point right now. They closed Monday just above the 100-day moving average (green line below), but remain under the 50-day (purple line). The current&nbsp;Street price target average&nbsp;implies $60 of downside from here, and the stock's movement until earnings will likely be dependent on whether inflation data results in bond yields moving sharply higher or not. If the stock cannot break above the 50-day, that declining key technical level could provide more resistance, and it brings up the possibility of the stock seeing the dreaded death cross later this year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab48feaf079058dba48f4e221d0db55b\" tg-width=\"640\" tg-height=\"271\"><span>Source: Yahoo! Finance</span></p>\n<p>Tesla certainly defied reduced expectations when it reported its Q1 delivery figures, but my primary Q1 focus will be on margins. How profitable will the company be when it is selling almost no Model S/X units, especially with commodity headwinds and the ramp of the China-made Model Y. Analyst estimates are certainly on the rise, with the Street now calling for a more than $2.2 billion improvement in non-GAAP net income this year. Tesla shares have come off their highs as a rise in bond yields have hurt growth names, but a good quarter in terms of margins could help the name get back above a key technical trend line.</p>","source":"seekingalpha","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>Tesla Focus Shifts To Margins</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\">\nTesla Focus Shifts To Margins\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-14 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4418935-tesla-focus-shifts-to-margins><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAnalysts expect non-GAAP profit to surge this year.\nShort-term situation could see a number of pressures.\nStock at a key technical point right now.\n\nPhoto by Urupong/iStock via Getty Images\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4418935-tesla-focus-shifts-to-margins\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4418935-tesla-focus-shifts-to-margins","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1126332570","content_text":"Summary\n\nAnalysts expect non-GAAP profit to surge this year.\nShort-term situation could see a number of pressures.\nStock at a key technical point right now.\n\nPhoto by Urupong/iStock via Getty Images\nOne of the largest criticisms of electric vehicle maker Tesla (TSLA) has been its inability to generate meaningful profits. Despite having a large share of the luxury EV market, the company has posted several years of significant losses in its history. Investors are now hoping that the days of red ink are behind us, which is why the focus must now shift to key margin metrics.\nTesla's GAAP and non-GAAP numbers have always varied wildly due to stock-based compensation. That gap has been quite large recently thanks to Elon Musk's large bonus plan hitting a number of tranches in 2020. Analysts primarily use the adjusted numbers, and Tesla delivered $2.24 in adjusted EPS last year. As the graphic below shows, estimates for this year have been rising for more than a year, with the current average of $4.22 up a bit from the $3.98 average seen at the end of last year.\nSource: Seeking Alpha Tesla analyst estimates page\nIt will be very interesting to see the margin numbers reported when Tesla earnings come out on Monday, April 26th. While the company did beat estimates for Q1 production and deliveries, there was no production of the Model S or X in the quarter. Elon Musk had said on the Q1 conference call that the refreshed versions of those luxury models were in production already and would be delivered in February, but that obviously did not happen. With these being higher margin vehicles in the past, you would figure overall margins will be hurt.\nQ1 also saw sharp rises in key commodity prices like nickel and cobalt, as well as the initial ramp of the Model Y made in China. Tesla skeptics also believe that highly profitable credit sales will fade over time, but it remains to be seen in the short term how much they will contribute. There also were a number of price cuts during the quarter, like for the Model 3 in Japan and a number of European countries. For a time, Tesla also cut prices in the US on the Model Y and also had a much lower priced Standard Range variant that was sold for part of the quarter.\nAs the graphic below details, Tesla's GAAP automotive gross margins have mostly been in the mid 20s percentage-wise over the past five quarters. Credit sales have helped quite a bit, but don't forget that this is only just part of the business. Tesla's energy business has seen low margins or negative margins in recent periods, and the services/other segment loses plenty of money each quarter. Overall for Q4 2020, the company's total GAAP gross margin figure was 19.23%, nearly 500 basis points below the automotive segment's GAAP gross margin figure.\nSource: Tesla Q4 2020 investor letter\nWith almost no Model S/X vehicles sold during the period, company-wide average selling prices will certainly decline. The key question is was Tesla able to keep costs at a reasonable level, or are we going to see a significant drop in gross margins? Management spoke on the conference call about a number of supposedly one-time items that were headwinds in Q4, which if they truly dissipate could really help things in Q1.\nOn the operating side, there shouldn't be as much expense given a shorter quarter, less coming from the CEO pay package, and Q4 having a larger part of expenses relating to the employee performance grant process. As a point of reference, the current estimates call for $10.12 billion in Q1 revenue and $0.74 in non-GAAP EPS, compared to $10.74 billion and $0.80 in Q4 2020.\nWhile the Street expects more than $4 in earnings this year, that number is forecast to surge into the low-double digits by 2024. It certainly helps that expected sharply rising deliveries over time should result in more revenue. However, if there are too many price cuts needed to achieve that growth, whether it be to competition or other factors like global economics, certain margin targets will not be met.\nDon't forget, Tesla's share count is rising over time, which is pressuring the EPS forecast for a given level of net income. The unit sales surge in Japan is a good example of how things can change, as it was driven by price cuts of 13%-17% for the Model 3. I can certainly sell more dollar bills for 90 cents each than I can for 95 cents, but it won't be good for my bottom line.\nAs for Tesla shares, they are at a very interesting point right now. They closed Monday just above the 100-day moving average (green line below), but remain under the 50-day (purple line). The current Street price target average implies $60 of downside from here, and the stock's movement until earnings will likely be dependent on whether inflation data results in bond yields moving sharply higher or not. If the stock cannot break above the 50-day, that declining key technical level could provide more resistance, and it brings up the possibility of the stock seeing the dreaded death cross later this year.\nSource: Yahoo! Finance\nTesla certainly defied reduced expectations when it reported its Q1 delivery figures, but my primary Q1 focus will be on margins. How profitable will the company be when it is selling almost no Model S/X units, especially with commodity headwinds and the ramp of the China-made Model Y. Analyst estimates are certainly on the rise, with the Street now calling for a more than $2.2 billion improvement in non-GAAP net income this year. Tesla shares have come off their highs as a rise in bond yields have hurt growth names, but a good quarter in terms of margins could help the name get back above a key technical trend line.","news_type":1},"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":345433217,"gmtCreate":1618328072939,"gmtModify":1634293664233,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good news for tech stocks. [财迷]&nbsp;","listText":"Good news for tech stocks. [财迷]&nbsp;","text":"Good news for tech stocks. [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345433217","repostId":"2127006017","repostType":4,"repost":{"id":"2127006017","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1618325760,"share":"https://www.laohu8.com/m/news/2127006017?lang=&edition=full","pubTime":"2021-04-13 22:56","market":"hk","language":"en","title":"U.S. Treasury yields slip despite surge in inflation to 2 1/2 -year high","url":"https://stock-news.laohu8.com/highlight/detail?id=2127006017","media":"Dow Jones","summary":"Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer price","content":"<p>Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer prices in March that sent yearly inflation measures to the highest level in two and a half years.</p>\n<p><b>What are Treasurys doing?</b></p>\n<p>The 10-year Treasury note yield fell to 1.659%, down from 1.675% at the end of Monday, while the 2-year note was steady at 0.169%. The 30-year bond yield slid 0.9 basis point to 2.336%.</p>\n<p><b>What's driving Treasurys?</b></p>\n<p>The U.S. consumer price index rose 0.6% in March, while the core gauge that strips out for energy and food prices came in at an 0.3% increase. The annual rate of inflation climbed to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018.</p>\n<p>Long-dated Treasurys have taken a beating so far this year in anticipation of rising inflation, unleashed by the reopening of the U.S. economy in the wake of the coronavirus pandemic.</p>\n<p>But yields didn't surge on Tuesday following the publication of the inflation data as analysts had been expecting a surge in price levels already and the rise in annual inflation partly reflected the recovery from the weak readings last March when the pandemic first impacted the economy.</p>\n<p>Federal Reserve Bank of New York will release its schedule for bond-buying over the next few weeks late Tuesday. This will draw attention after New York Fed official Lorie Logan suggested recently that the central bank will start making tweaks to the amount of its asset purchases in parts of the yield curve.</p>\n<p>Some members of the Fed's rate-setting committee are set to speak on Tuesday, including Philadelphia Fed President Patrick Harker and San Francisco Fed President Mary Daly.</p>\n<p><b>What did market participants say?</b></p>\n<p>\"Markets seemed to be anticipating an upside surprise,\" said said Erik Nelson, a macro strategist at Wells Fargo.</p>\n<p>\"The noise from inflation base effects may also be leading some market participants to simply look through today's print,\" said Nelson.</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>U.S. Treasury yields slip despite surge in inflation to 2 1/2 -year high</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\">\nU.S. Treasury yields slip despite surge in inflation to 2 1/2 -year high\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-04-13 22:56</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer prices in March that sent yearly inflation measures to the highest level in two and a half years.</p>\n<p><b>What are Treasurys doing?</b></p>\n<p>The 10-year Treasury note yield fell to 1.659%, down from 1.675% at the end of Monday, while the 2-year note was steady at 0.169%. The 30-year bond yield slid 0.9 basis point to 2.336%.</p>\n<p><b>What's driving Treasurys?</b></p>\n<p>The U.S. consumer price index rose 0.6% in March, while the core gauge that strips out for energy and food prices came in at an 0.3% increase. The annual rate of inflation climbed to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018.</p>\n<p>Long-dated Treasurys have taken a beating so far this year in anticipation of rising inflation, unleashed by the reopening of the U.S. economy in the wake of the coronavirus pandemic.</p>\n<p>But yields didn't surge on Tuesday following the publication of the inflation data as analysts had been expecting a surge in price levels already and the rise in annual inflation partly reflected the recovery from the weak readings last March when the pandemic first impacted the economy.</p>\n<p>Federal Reserve Bank of New York will release its schedule for bond-buying over the next few weeks late Tuesday. This will draw attention after New York Fed official Lorie Logan suggested recently that the central bank will start making tweaks to the amount of its asset purchases in parts of the yield curve.</p>\n<p>Some members of the Fed's rate-setting committee are set to speak on Tuesday, including Philadelphia Fed President Patrick Harker and San Francisco Fed President Mary Daly.</p>\n<p><b>What did market participants say?</b></p>\n<p>\"Markets seemed to be anticipating an upside surprise,\" said said Erik Nelson, a macro strategist at Wells Fargo.</p>\n<p>\"The noise from inflation base effects may also be leading some market participants to simply look through today's print,\" said Nelson.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127006017","content_text":"Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer prices in March that sent yearly inflation measures to the highest level in two and a half years.\nWhat are Treasurys doing?\nThe 10-year Treasury note yield fell to 1.659%, down from 1.675% at the end of Monday, while the 2-year note was steady at 0.169%. The 30-year bond yield slid 0.9 basis point to 2.336%.\nWhat's driving Treasurys?\nThe U.S. consumer price index rose 0.6% in March, while the core gauge that strips out for energy and food prices came in at an 0.3% increase. The annual rate of inflation climbed to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018.\nLong-dated Treasurys have taken a beating so far this year in anticipation of rising inflation, unleashed by the reopening of the U.S. economy in the wake of the coronavirus pandemic.\nBut yields didn't surge on Tuesday following the publication of the inflation data as analysts had been expecting a surge in price levels already and the rise in annual inflation partly reflected the recovery from the weak readings last March when the pandemic first impacted the economy.\nFederal Reserve Bank of New York will release its schedule for bond-buying over the next few weeks late Tuesday. This will draw attention after New York Fed official Lorie Logan suggested recently that the central bank will start making tweaks to the amount of its asset purchases in parts of the yield curve.\nSome members of the Fed's rate-setting committee are set to speak on Tuesday, including Philadelphia Fed President Patrick Harker and San Francisco Fed President Mary Daly.\nWhat did market participants say?\n\"Markets seemed to be anticipating an upside surprise,\" said said Erik Nelson, a macro strategist at Wells Fargo.\n\"The noise from inflation base effects may also be leading some market participants to simply look through today's print,\" said Nelson.","news_type":1},"isVote":1,"tweetType":1,"viewCount":686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":345642327,"gmtCreate":1618313309969,"gmtModify":1634293792042,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Just about to take flight, in the end [喷血]&nbsp;","listText":"Just about to take flight, in the end [喷血]&nbsp;","text":"Just about to take flight, in the end [喷血]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345642327","repostId":"1178797310","repostType":4,"repost":{"id":"1178797310","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618312466,"share":"https://www.laohu8.com/m/news/1178797310?lang=&edition=full","pubTime":"2021-04-13 19:14","market":"us","language":"en","title":"Johnson & Johnson dipped about 3% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1178797310","media":"Tiger Newspress","summary":"U.S. Calls For Pause On Johnson & Johnson Vaccine After Clotting Cases.KEY POINTSThe FDA said it is ","content":"<p>U.S. Calls For Pause On Johnson &amp; Johnson Vaccine After Clotting Cases.</p><p><img src=\"https://static.tigerbbs.com/44ed5a479ba7fa5976bb70090ba50c81\" tg-width=\"1242\" tg-height=\"2148\" referrerpolicy=\"no-referrer\"></p><p><b>KEY POINTS</b></p><ul><li>The FDA said it is asking states to temporarily halt using J&amp;J’s Covid-19 vaccine after six people in the U.S. developed a rare blood clotting disorder.</li><li>The FDA said the recommendation is “out of an abundance of caution.”</li><li>All six cases occurred in women between the ages of 18 and 48, with symptoms developing six to 13 days after they received the shot.</li></ul><p>The Food and Drug Administration said Tuesday it is asking states to temporarily halt usingJohnson &amp; Johnson’s Covid-19 vaccine after six people in the U.S. developed a rare blood clotting disorder.</p><p>The FDA said the recommendation is “out of an abundance of caution.”</p><p>“Right now, these adverse events appear to be extremely rare,” the FDA said in a joint statement with the Centers for Disease Control and Prevention. “COVID-19 vaccine safety is a top priority for the federal government, and we take all reports of health problems following COVID-19 vaccination very seriously.”</p><p><img src=\"https://static.tigerbbs.com/b4808bfed9dcd9d1cc27ef92e3ba3dcf\" tg-width=\"512\" tg-height=\"232\">A White House spokesman referred CNBC to HHS when asked for comment.</p><p>All six cases occurred in women between the ages of 18 and 48, with symptoms developing six to 13 days after they received the shot. Doctors typically treat that type of blood clot with heparin but health regulators noted that could be dangerous in this case and recommended a different treatment.</p><p>J&amp;J said in a statement that “no clear causal relationship” has been identified between the blood clots and the vaccine, adding it is working closely with regulators to assess the data.</p><p>People who receive the vaccine and “develop severe headache, abdominal pain, leg pain, or shortness of breath within three weeks after vaccination should contact their health care provider,” the FDA and CDC said.</p><p>Shares of J&amp;J were down more than 3% in premarket trading Tuesday.</p><p>The CDC will convene a meeting of the Advisory Committee on Immunization Practices on Wednesday to further review the cases, federal health regulators said Tuesday. The FDA is also investigating the cases.</p><p>J&amp;J’s Covid-19 vaccine, like Pfizer’s and Moderna’s shots, received emergency use authorization from the FDA to start distributing the doses across the U.S. An EUA grants conditional clearance based on two months of safety data, pending full approval which usually requires at least six months of data.</p><p>When J&amp;J submitted its Covid vaccine data to the FDA in February, no specific concerns were identified when analyzed by age, race and comorbidities, according to the agency. The FDA said at the time the most common side effects reported were headache and fatigue, followed by muscle aches, nausea and fever.</p><p>The New York Timesfirst reportedthe news.</p><p>It’s unclear how the pause will impact J&amp;J’s goal to deliver 100 million doses to the U.S. by the end of May. The company has already been plagued by manufacturing issues of its vaccine.</p><p>Last week, Europe’s medicines regulatorsaid it found a possible linkbetween the coronavirus vaccine developed by AstraZeneca and the University of Oxford and rare blood clotting issues. AstraZeneca has not received authorization for use in the U.S.</p><p>Emer Cooke, executive director of the European Medicines Agency, said in a televised news conference last week that unusual blood clotting with low blood platelets would be added as a “very rare” side effect to the vaccine’s product information, along with a slew of other possible adverse reactions.</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>Johnson & Johnson dipped about 3% in premarket trading</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\">\nJohnson & Johnson dipped about 3% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-13 19:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. Calls For Pause On Johnson &amp; Johnson Vaccine After Clotting Cases.</p><p><img src=\"https://static.tigerbbs.com/44ed5a479ba7fa5976bb70090ba50c81\" tg-width=\"1242\" tg-height=\"2148\" referrerpolicy=\"no-referrer\"></p><p><b>KEY POINTS</b></p><ul><li>The FDA said it is asking states to temporarily halt using J&amp;J’s Covid-19 vaccine after six people in the U.S. developed a rare blood clotting disorder.</li><li>The FDA said the recommendation is “out of an abundance of caution.”</li><li>All six cases occurred in women between the ages of 18 and 48, with symptoms developing six to 13 days after they received the shot.</li></ul><p>The Food and Drug Administration said Tuesday it is asking states to temporarily halt usingJohnson &amp; Johnson’s Covid-19 vaccine after six people in the U.S. developed a rare blood clotting disorder.</p><p>The FDA said the recommendation is “out of an abundance of caution.”</p><p>“Right now, these adverse events appear to be extremely rare,” the FDA said in a joint statement with the Centers for Disease Control and Prevention. “COVID-19 vaccine safety is a top priority for the federal government, and we take all reports of health problems following COVID-19 vaccination very seriously.”</p><p><img src=\"https://static.tigerbbs.com/b4808bfed9dcd9d1cc27ef92e3ba3dcf\" tg-width=\"512\" tg-height=\"232\">A White House spokesman referred CNBC to HHS when asked for comment.</p><p>All six cases occurred in women between the ages of 18 and 48, with symptoms developing six to 13 days after they received the shot. Doctors typically treat that type of blood clot with heparin but health regulators noted that could be dangerous in this case and recommended a different treatment.</p><p>J&amp;J said in a statement that “no clear causal relationship” has been identified between the blood clots and the vaccine, adding it is working closely with regulators to assess the data.</p><p>People who receive the vaccine and “develop severe headache, abdominal pain, leg pain, or shortness of breath within three weeks after vaccination should contact their health care provider,” the FDA and CDC said.</p><p>Shares of J&amp;J were down more than 3% in premarket trading Tuesday.</p><p>The CDC will convene a meeting of the Advisory Committee on Immunization Practices on Wednesday to further review the cases, federal health regulators said Tuesday. The FDA is also investigating the cases.</p><p>J&amp;J’s Covid-19 vaccine, like Pfizer’s and Moderna’s shots, received emergency use authorization from the FDA to start distributing the doses across the U.S. An EUA grants conditional clearance based on two months of safety data, pending full approval which usually requires at least six months of data.</p><p>When J&amp;J submitted its Covid vaccine data to the FDA in February, no specific concerns were identified when analyzed by age, race and comorbidities, according to the agency. The FDA said at the time the most common side effects reported were headache and fatigue, followed by muscle aches, nausea and fever.</p><p>The New York Timesfirst reportedthe news.</p><p>It’s unclear how the pause will impact J&amp;J’s goal to deliver 100 million doses to the U.S. by the end of May. The company has already been plagued by manufacturing issues of its vaccine.</p><p>Last week, Europe’s medicines regulatorsaid it found a possible linkbetween the coronavirus vaccine developed by AstraZeneca and the University of Oxford and rare blood clotting issues. AstraZeneca has not received authorization for use in the U.S.</p><p>Emer Cooke, executive director of the European Medicines Agency, said in a televised news conference last week that unusual blood clotting with low blood platelets would be added as a “very rare” side effect to the vaccine’s product information, along with a slew of other possible adverse reactions.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JNJ":"强生"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178797310","content_text":"U.S. Calls For Pause On Johnson & Johnson Vaccine After Clotting Cases.KEY POINTSThe FDA said it is asking states to temporarily halt using J&J’s Covid-19 vaccine after six people in the U.S. developed a rare blood clotting disorder.The FDA said the recommendation is “out of an abundance of caution.”All six cases occurred in women between the ages of 18 and 48, with symptoms developing six to 13 days after they received the shot.The Food and Drug Administration said Tuesday it is asking states to temporarily halt usingJohnson & Johnson’s Covid-19 vaccine after six people in the U.S. developed a rare blood clotting disorder.The FDA said the recommendation is “out of an abundance of caution.”“Right now, these adverse events appear to be extremely rare,” the FDA said in a joint statement with the Centers for Disease Control and Prevention. “COVID-19 vaccine safety is a top priority for the federal government, and we take all reports of health problems following COVID-19 vaccination very seriously.”A White House spokesman referred CNBC to HHS when asked for comment.All six cases occurred in women between the ages of 18 and 48, with symptoms developing six to 13 days after they received the shot. Doctors typically treat that type of blood clot with heparin but health regulators noted that could be dangerous in this case and recommended a different treatment.J&J said in a statement that “no clear causal relationship” has been identified between the blood clots and the vaccine, adding it is working closely with regulators to assess the data.People who receive the vaccine and “develop severe headache, abdominal pain, leg pain, or shortness of breath within three weeks after vaccination should contact their health care provider,” the FDA and CDC said.Shares of J&J were down more than 3% in premarket trading Tuesday.The CDC will convene a meeting of the Advisory Committee on Immunization Practices on Wednesday to further review the cases, federal health regulators said Tuesday. The FDA is also investigating the cases.J&J’s Covid-19 vaccine, like Pfizer’s and Moderna’s shots, received emergency use authorization from the FDA to start distributing the doses across the U.S. An EUA grants conditional clearance based on two months of safety data, pending full approval which usually requires at least six months of data.When J&J submitted its Covid vaccine data to the FDA in February, no specific concerns were identified when analyzed by age, race and comorbidities, according to the agency. The FDA said at the time the most common side effects reported were headache and fatigue, followed by muscle aches, nausea and fever.The New York Timesfirst reportedthe news.It’s unclear how the pause will impact J&J’s goal to deliver 100 million doses to the U.S. by the end of May. The company has already been plagued by manufacturing issues of its vaccine.Last week, Europe’s medicines regulatorsaid it found a possible linkbetween the coronavirus vaccine developed by AstraZeneca and the University of Oxford and rare blood clotting issues. AstraZeneca has not received authorization for use in the U.S.Emer Cooke, executive director of the European Medicines Agency, said in a televised news conference last week that unusual blood clotting with low blood platelets would be added as a “very rare” side effect to the vaccine’s product information, along with a slew of other possible adverse reactions.","news_type":1},"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":342472820,"gmtCreate":1618239532060,"gmtModify":1634294213700,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Looking good [贱笑]&nbsp;","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Looking good [贱笑]&nbsp;","text":"$Tesla Motors(TSLA)$Looking good [贱笑]","images":[{"img":"https://static.tigerbbs.com/cfa00f45919e4aac8fd0eb04352b230c","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342472820","isVote":1,"tweetType":1,"viewCount":480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":342299718,"gmtCreate":1618218027134,"gmtModify":1634294374987,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Worry news = good news [开心]&nbsp;","listText":"Worry news = good news [开心]&nbsp;","text":"Worry news = good news [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342299718","repostId":"1188275625","repostType":2,"repost":{"id":"1188275625","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1618215072,"share":"https://www.laohu8.com/m/news/1188275625?lang=&edition=full","pubTime":"2021-04-12 16:11","market":"us","language":"en","title":"Apple's Upcoming High-End iPad To Face Low Initial Supplies Over Production Woes: Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1188275625","media":"Benzinga","summary":"Apple Inc’sAAPLcould face short initial supplies of the soon-to-be-launched iPad Pro, Bloomberg repo","content":"<p><b>Apple Inc’s</b>AAPLcould face short initial supplies of the&nbsp;soon-to-be-launched iPad Pro, Bloomberg&nbsp;reportedon Monday.</p>\n<p><b>What Happened:</b>Apple is expected to launch its new 12.9-inch iPad Pro with the MiniLed display technology later this month. The Cupertino, California-based company’s overseas suppliers are however facing poor manufacturing yields and at least one of them had to recently pause production as a result, the Bloomberg report said.</p>\n<p>The maker of iPhone and MacBook devices is still aiming to reveal the products later this month, the report said — citing people familiar with the matter. The production delay could however mean the larger iPad Pro will ship later and in constrained quantities.</p>\n<p>The Cupertino-based company is reportedly looking to include a Mini-LED screen with at least the 12.9-inch screen model, which is expected to improve contrast ratios and deliver a brighter picture.</p>\n<p>The iPad Pro was last updated by Apple in March 2020.</p>\n<p>At least three Taiwan-based companies, namely Ennostar Inc, General Interface Solution Holding Ltd. and Taiwan Surface Mounting Technology Corp are among the key suppliers of the MiniLED technology.</p>\n<p>Nikke Asia last week reported, citing global semiconductor chip shortages, that both MacBook and iPad devices arefacing production delays.</p>\n<p><b>Why It Matters:</b>The iPad recorded a 41% jump in sales to $8.4 billion for the quarter ended Dec. 26, on a year-on-year basis, the most since 2014 and helped by a surge in work-from-home demand. That represents about 8% of the company’s total net sales of $111.44 billion during the quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/6a1334cb79eb9fd3738130d842dd275e\" tg-width=\"2400\" tg-height=\"828\"><b>Price Action:</b>Shares of Apple closed 2% higher at $133 on Friday.</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>Apple's Upcoming High-End iPad To Face Low Initial Supplies Over Production Woes: Report</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\">\nApple's Upcoming High-End iPad To Face Low Initial Supplies Over Production Woes: Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-04-12 16:11</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Apple Inc’s</b>AAPLcould face short initial supplies of the&nbsp;soon-to-be-launched iPad Pro, Bloomberg&nbsp;reportedon Monday.</p>\n<p><b>What Happened:</b>Apple is expected to launch its new 12.9-inch iPad Pro with the MiniLed display technology later this month. The Cupertino, California-based company’s overseas suppliers are however facing poor manufacturing yields and at least one of them had to recently pause production as a result, the Bloomberg report said.</p>\n<p>The maker of iPhone and MacBook devices is still aiming to reveal the products later this month, the report said — citing people familiar with the matter. The production delay could however mean the larger iPad Pro will ship later and in constrained quantities.</p>\n<p>The Cupertino-based company is reportedly looking to include a Mini-LED screen with at least the 12.9-inch screen model, which is expected to improve contrast ratios and deliver a brighter picture.</p>\n<p>The iPad Pro was last updated by Apple in March 2020.</p>\n<p>At least three Taiwan-based companies, namely Ennostar Inc, General Interface Solution Holding Ltd. and Taiwan Surface Mounting Technology Corp are among the key suppliers of the MiniLED technology.</p>\n<p>Nikke Asia last week reported, citing global semiconductor chip shortages, that both MacBook and iPad devices arefacing production delays.</p>\n<p><b>Why It Matters:</b>The iPad recorded a 41% jump in sales to $8.4 billion for the quarter ended Dec. 26, on a year-on-year basis, the most since 2014 and helped by a surge in work-from-home demand. That represents about 8% of the company’s total net sales of $111.44 billion during the quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/6a1334cb79eb9fd3738130d842dd275e\" tg-width=\"2400\" tg-height=\"828\"><b>Price Action:</b>Shares of Apple closed 2% higher at $133 on Friday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188275625","content_text":"Apple Inc’sAAPLcould face short initial supplies of the soon-to-be-launched iPad Pro, Bloomberg reportedon Monday.\nWhat Happened:Apple is expected to launch its new 12.9-inch iPad Pro with the MiniLed display technology later this month. The Cupertino, California-based company’s overseas suppliers are however facing poor manufacturing yields and at least one of them had to recently pause production as a result, the Bloomberg report said.\nThe maker of iPhone and MacBook devices is still aiming to reveal the products later this month, the report said — citing people familiar with the matter. The production delay could however mean the larger iPad Pro will ship later and in constrained quantities.\nThe Cupertino-based company is reportedly looking to include a Mini-LED screen with at least the 12.9-inch screen model, which is expected to improve contrast ratios and deliver a brighter picture.\nThe iPad Pro was last updated by Apple in March 2020.\nAt least three Taiwan-based companies, namely Ennostar Inc, General Interface Solution Holding Ltd. and Taiwan Surface Mounting Technology Corp are among the key suppliers of the MiniLED technology.\nNikke Asia last week reported, citing global semiconductor chip shortages, that both MacBook and iPad devices arefacing production delays.\nWhy It Matters:The iPad recorded a 41% jump in sales to $8.4 billion for the quarter ended Dec. 26, on a year-on-year basis, the most since 2014 and helped by a surge in work-from-home demand. That represents about 8% of the company’s total net sales of $111.44 billion during the quarter.\nPrice Action:Shares of Apple closed 2% higher at $133 on Friday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":342290799,"gmtCreate":1618217947811,"gmtModify":1631891212278,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Btc has been holding well for the past few days. Vroom vroom vroom! [得意]&nbsp;[比心]&nbsp;","listText":"Btc has been holding well for the past few days. Vroom vroom vroom! [得意]&nbsp;[比心]&nbsp;","text":"Btc has been holding well for the past few days. Vroom vroom vroom! [得意] [比心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342290799","repostId":"1123837168","repostType":2,"repost":{"id":"1123837168","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618216692,"share":"https://www.laohu8.com/m/news/1123837168?lang=&edition=full","pubTime":"2021-04-12 16:38","market":"us","language":"en","title":"Blockchain stocks rose in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1123837168","media":"Tiger Newspress","summary":"(April 12) Block chain stocks rose in premarket trading.The Bitcoin boom isn't over yet, as the cryp","content":"<p>(April 12)&nbsp;Block chain stocks rose in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/4e32554709982b12e2ed3aa14501048c\" tg-width=\"287\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>The&nbsp;<b>Bitcoin</b>&nbsp;boom isn't over yet, as the cryptocurrency continues its upward trend. Since the beginning of the year, Bitcoin's price has jumped nearly 100% as investors scramble to get involved in the digital currency mania.</p><p>Despite its popularity, though, it's still an incredibly risky investment. While some investorsbelieve it's a gamechanger, othersaren't as optimistic about its potential. It's also experienced extreme price fluctuations, dropping by roughly 20% on three separate occasions since January of this year.</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>Blockchain stocks rose in premarket trading</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\">\nBlockchain stocks rose in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-12 16:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April 12)&nbsp;Block chain stocks rose in premarket trading.</p><p><img src=\"https://static.tigerbbs.com/4e32554709982b12e2ed3aa14501048c\" tg-width=\"287\" tg-height=\"328\" referrerpolicy=\"no-referrer\"></p><p>The&nbsp;<b>Bitcoin</b>&nbsp;boom isn't over yet, as the cryptocurrency continues its upward trend. Since the beginning of the year, Bitcoin's price has jumped nearly 100% as investors scramble to get involved in the digital currency mania.</p><p>Despite its popularity, though, it's still an incredibly risky investment. While some investorsbelieve it's a gamechanger, othersaren't as optimistic about its potential. It's also experienced extreme price fluctuations, dropping by roughly 20% on three separate occasions since January of this year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MARA":"Marathon Digital Holdings Inc","CNET":"中网载线","SOS":"SOS Limited","NCTY":"第九城市","EBON":"亿邦国际","CAN":"嘉楠科技","RIOT":"Riot Platforms"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123837168","content_text":"(April 12) Block chain stocks rose in premarket trading.The Bitcoin boom isn't over yet, as the cryptocurrency continues its upward trend. Since the beginning of the year, Bitcoin's price has jumped nearly 100% as investors scramble to get involved in the digital currency mania.Despite its popularity, though, it's still an incredibly risky investment. While some investorsbelieve it's a gamechanger, othersaren't as optimistic about its potential. It's also experienced extreme price fluctuations, dropping by roughly 20% on three separate occasions since January of this year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":346277495,"gmtCreate":1618059453617,"gmtModify":1631887151986,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Considering ARK ETF [思考]&nbsp;","listText":"Considering ARK ETF [思考]&nbsp;","text":"Considering ARK ETF [思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346277495","repostId":"1119761514","repostType":4,"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":346274765,"gmtCreate":1618059278657,"gmtModify":1634295031019,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Can buy some healthcare stocks [财迷]&nbsp;","listText":"Can buy some healthcare stocks [财迷]&nbsp;","text":"Can buy some healthcare stocks [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346274765","repostId":"1136941144","repostType":4,"repost":{"id":"1136941144","pubTimestamp":1617980884,"share":"https://www.laohu8.com/m/news/1136941144?lang=&edition=full","pubTime":"2021-04-09 23:08","market":"us","language":"en","title":"Biden Boosts Health, Education in $1.52 Trillion Budget Request","url":"https://stock-news.laohu8.com/highlight/detail?id=1136941144","media":"Bloomberg","summary":"White House releases outline of budget request for 2022\nCongress likely to significantly reshape pla","content":"<ul>\n <li>White House releases outline of budget request for 2022</li>\n <li>Congress likely to significantly reshape plan in coming months</li>\n</ul>\n<p>President Joe Biden proposed major boosts in funding to combat inequality, disease and climate change as part of a $1.52 trillion budget request for 2022, part of his wider push to redefine the role of government in American lives.</p>\n<p>The administration’s outline, released by the White House Friday, kicks off a months-long process in which Congress is likely to significantly reshape the priorities, given stiff Republican opposition to many of the proposals. But the outline showcases how Biden is trying to bend the federal government toward a much greater role in the provision of health care and education.</p>\n<p>Combined with the $1.9 trillion pandemic-relief bill signed last month and a $2.25 trillion infrastructure-and-jobs proposal, the budget marks Biden’s third foray into using the power of the federal government to radically expand help for lower-income and middle-class Americans. A further social-spending package is also coming, all before Biden’s first 100 days have passed.</p>\n<p>Biden on Friday asked for a 15.9% jump in regular non-defense domestic spending for the fiscal year starting in October, with a more than 40% increase in education spending and a 23% jump for health. The overall budget request is an 8.4% boost from the current year, when excluding emergency spending for the pandemic.</p>\n<p>While there’s extra money for Internal Revenue Service enforcement, the plan doesn’t include the tax hikes on individuals that Biden is planning to unveil in coming weeks to help fund his broader expansion in fiscal spending.</p>\n<p><b>‘More Inclusive’</b></p>\n<p>There’s $14 billion extra to address climate change, $20 billion more for high-poverty schools and $6.5 billion for launching a new research agency to develop new treatments and cures for diseases -- along the lines of the Defense Department’s DARPA.</p>\n<p>“This moment of crisis is also a moment of possibility,” acting budget director Shalanda Young said in a message to lawmakers Friday. “Together, America has a chance not simply to go back to the way things were before the Covid-19 pandemic and economic downturn struck, but to begin building a better, stronger, more secure, more inclusive America.”</p>\n<p>The fiscal 2022 budget request comes on top of last week’s proposed eight-year infrastructure-led package, and a forthcoming, longer-term social-spending program expected to total around $1 trillion.</p>\n<p>Unlike those other proposals, the Democrats will need Republican votes in the Senate to pass the annual appropriations bills into which the budget is divided, according to the chamber’s rules. That means getting at least 10 GOP members aboard.</p>\n<p><b>Defense Spending</b></p>\n<p>Republican lawmakers are certain to take issue with many of Biden’s requests.</p>\n<p>The outline has $753 billion for defense programs in the upcoming fiscal year, which represents just a 1.7% increase -- significantly below the 4% to 5% bump advocated by GOP leaders, and a break with recent tradition of keeping defense and non-defense increases on the same scale.</p>\n<p>The White House argued that domestic investments have waned in recent years, and that Biden’s proposed boost on that side of the ledger would simply return the country’s non-defense spending to around the historic norm of 3.3% of gross domestic product.</p>\n<p>Biden includes no money for border-wall construction, canceling unspent funds from previous years, and has asked for $232 million more to study and investigate domestic terrorism in the wake of the insurrection by supporters of former President Donald Trump at the U.S. Capitol.</p>\n<p><b>No Caps</b></p>\n<p>The president’s 2022 request -- which involves just discretionary spending, and not entitlement programs like Medicare, Medicaid and Social Security -- comes without the budget caps that have been in place for a decade. The expiration of those caps, agreed to between the Obama administration and congressional Republicans, has been described by White House officials as an opportunity to pursue investments in areas like education, clean energy and public health.</p>\n<p>“Over the past decade, due in large measure to overly restrictive budget caps, the nation significantly under-invested in core public services, benefits and protections,” Young said.</p>\n<p>And though presidential budgets are routinely ignored on Capitol Hill, administration officials are hopeful the top-line numbers can offer an early guidepost for fellow Democrats who narrowly control both chambers of Congress.</p>\n<p>Priorities identified by the administration include:</p>\n<ul>\n <li>A $3.9 billion increase in funding to battle the opioid epidemic</li>\n <li>$232 million in new money for Department of Justice gun violence prevention programs</li>\n <li>More than $1.2 billion in new spending for aid to Central America, and asylum adjudication amid a surge of migrants at the U.S.-Mexico border.</li>\n</ul>\n<p>Biden is asking Congress to spend $14 billion more on climate programs across the U.S. government, with some $10 billion targeted to clean energy innovation. Much of the funding would go to Energy Department initiatives, including the Advanced Research Projects Agency for Climate, with support for high-risk ventures that offer the potential for changes in the way electricity is generated and used.</p>\n<p>He envisions a $1.4 billion increase for the National Oceanic and Atmospheric Administration, enabling greater work on climate observations and forecasting, and $600 million to buy electric vehicles and equipment for federal agencies such as the U.S. Postal Service, which is in theprocess of turning over its fleet. Another $800 million would go toward making public and assisted housing more energy efficient.</p>\n<p>Biden also calls for an additional $1.2 billion for the Internal Revenue Service to boost oversight of corporations and wealthy taxpayers and improve IRS customer service. It also calls for amulti-year allocation of $417 million to fund audits, which the White House hopes will bring in more revenues from businesses and wealthy taxpayers.</p>\n<p><b>Amtrak Money</b></p>\n<p>The Commerce Department would see a 28% increase --including a doubling of funds for manufacturing-related programs under the National Institute of Standards and Technology. Amtrak -- long favored by Biden -- receives a 35% increase.</p>\n<p>Biden’s budget proposal arrives months later than the usual timeline, and it lacks many of the details -- including plans for raising revenues, economic assumptions and a 10-year outlook -- that ordinarily accompany funding requests.</p>\n<p>Appropriations for 2022 need to be enacted before Oct. 1 to avert a government shutdown.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Biden Boosts Health, Education in $1.52 Trillion Budget Request</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\">\nBiden Boosts Health, Education in $1.52 Trillion Budget Request\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 23:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>White House releases outline of budget request for 2022\nCongress likely to significantly reshape plan in coming months\n\nPresident Joe Biden proposed major boosts in funding to combat inequality, ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"http://bloomberg.com/news/articles/2021-04-09/biden-boosts-health-education-in-1-52-trillion-budget-request","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136941144","content_text":"White House releases outline of budget request for 2022\nCongress likely to significantly reshape plan in coming months\n\nPresident Joe Biden proposed major boosts in funding to combat inequality, disease and climate change as part of a $1.52 trillion budget request for 2022, part of his wider push to redefine the role of government in American lives.\nThe administration’s outline, released by the White House Friday, kicks off a months-long process in which Congress is likely to significantly reshape the priorities, given stiff Republican opposition to many of the proposals. But the outline showcases how Biden is trying to bend the federal government toward a much greater role in the provision of health care and education.\nCombined with the $1.9 trillion pandemic-relief bill signed last month and a $2.25 trillion infrastructure-and-jobs proposal, the budget marks Biden’s third foray into using the power of the federal government to radically expand help for lower-income and middle-class Americans. A further social-spending package is also coming, all before Biden’s first 100 days have passed.\nBiden on Friday asked for a 15.9% jump in regular non-defense domestic spending for the fiscal year starting in October, with a more than 40% increase in education spending and a 23% jump for health. The overall budget request is an 8.4% boost from the current year, when excluding emergency spending for the pandemic.\nWhile there’s extra money for Internal Revenue Service enforcement, the plan doesn’t include the tax hikes on individuals that Biden is planning to unveil in coming weeks to help fund his broader expansion in fiscal spending.\n‘More Inclusive’\nThere’s $14 billion extra to address climate change, $20 billion more for high-poverty schools and $6.5 billion for launching a new research agency to develop new treatments and cures for diseases -- along the lines of the Defense Department’s DARPA.\n“This moment of crisis is also a moment of possibility,” acting budget director Shalanda Young said in a message to lawmakers Friday. “Together, America has a chance not simply to go back to the way things were before the Covid-19 pandemic and economic downturn struck, but to begin building a better, stronger, more secure, more inclusive America.”\nThe fiscal 2022 budget request comes on top of last week’s proposed eight-year infrastructure-led package, and a forthcoming, longer-term social-spending program expected to total around $1 trillion.\nUnlike those other proposals, the Democrats will need Republican votes in the Senate to pass the annual appropriations bills into which the budget is divided, according to the chamber’s rules. That means getting at least 10 GOP members aboard.\nDefense Spending\nRepublican lawmakers are certain to take issue with many of Biden’s requests.\nThe outline has $753 billion for defense programs in the upcoming fiscal year, which represents just a 1.7% increase -- significantly below the 4% to 5% bump advocated by GOP leaders, and a break with recent tradition of keeping defense and non-defense increases on the same scale.\nThe White House argued that domestic investments have waned in recent years, and that Biden’s proposed boost on that side of the ledger would simply return the country’s non-defense spending to around the historic norm of 3.3% of gross domestic product.\nBiden includes no money for border-wall construction, canceling unspent funds from previous years, and has asked for $232 million more to study and investigate domestic terrorism in the wake of the insurrection by supporters of former President Donald Trump at the U.S. Capitol.\nNo Caps\nThe president’s 2022 request -- which involves just discretionary spending, and not entitlement programs like Medicare, Medicaid and Social Security -- comes without the budget caps that have been in place for a decade. The expiration of those caps, agreed to between the Obama administration and congressional Republicans, has been described by White House officials as an opportunity to pursue investments in areas like education, clean energy and public health.\n“Over the past decade, due in large measure to overly restrictive budget caps, the nation significantly under-invested in core public services, benefits and protections,” Young said.\nAnd though presidential budgets are routinely ignored on Capitol Hill, administration officials are hopeful the top-line numbers can offer an early guidepost for fellow Democrats who narrowly control both chambers of Congress.\nPriorities identified by the administration include:\n\nA $3.9 billion increase in funding to battle the opioid epidemic\n$232 million in new money for Department of Justice gun violence prevention programs\nMore than $1.2 billion in new spending for aid to Central America, and asylum adjudication amid a surge of migrants at the U.S.-Mexico border.\n\nBiden is asking Congress to spend $14 billion more on climate programs across the U.S. government, with some $10 billion targeted to clean energy innovation. Much of the funding would go to Energy Department initiatives, including the Advanced Research Projects Agency for Climate, with support for high-risk ventures that offer the potential for changes in the way electricity is generated and used.\nHe envisions a $1.4 billion increase for the National Oceanic and Atmospheric Administration, enabling greater work on climate observations and forecasting, and $600 million to buy electric vehicles and equipment for federal agencies such as the U.S. Postal Service, which is in theprocess of turning over its fleet. Another $800 million would go toward making public and assisted housing more energy efficient.\nBiden also calls for an additional $1.2 billion for the Internal Revenue Service to boost oversight of corporations and wealthy taxpayers and improve IRS customer service. It also calls for amulti-year allocation of $417 million to fund audits, which the White House hopes will bring in more revenues from businesses and wealthy taxpayers.\nAmtrak Money\nThe Commerce Department would see a 28% increase --including a doubling of funds for manufacturing-related programs under the National Institute of Standards and Technology. Amtrak -- long favored by Biden -- receives a 35% increase.\nBiden’s budget proposal arrives months later than the usual timeline, and it lacks many of the details -- including plans for raising revenues, economic assumptions and a 10-year outlook -- that ordinarily accompany funding requests.\nAppropriations for 2022 need to be enacted before Oct. 1 to avert a government shutdown.","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":348806145,"gmtCreate":1617899262887,"gmtModify":1634295857600,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go go go [哇塞]&nbsp;","listText":"Go go go [哇塞]&nbsp;","text":"Go go go [哇塞]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348806145","repostId":"1193576971","repostType":4,"repost":{"id":"1193576971","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1617888679,"share":"https://www.laohu8.com/m/news/1193576971?lang=&edition=full","pubTime":"2021-04-08 21:31","market":"us","language":"en","title":"S&P 500 hits another all-time high as Big Tech stocks rally","url":"https://stock-news.laohu8.com/highlight/detail?id=1193576971","media":"Tiger Newspress","summary":"The S&P 500 rose to reach another record high on Thursday amid a strong rally in major technology st","content":"<p>The S&amp;P 500 rose to reach another record high on Thursday amid a strong rally in major technology stocks.</p><p>The broad equity benchmark gained 0.3% to hit an all-time high after closing at a record in the previous session. The tech-heavy Nasdaq Composite rallied 0.8% as the 'FAANG' tech shares of Facebook, Amazon, Apple, Netflix and Google-parent Alphabet were all about 1% higher. The Dow Jones Industrial Average was flat.</p><p><img src=\"https://static.tigerbbs.com/813a73982425b7194b24d9be1d9148b1\" tg-width=\"1080\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Investors processed a worse-than-expected reading on the latest weekly jobless claims.A total of 744,000&nbsp;Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday. Economists polled by Dow Jones expect first-time claims to total 694,000.</p><p>The&nbsp;Federal Reserve's latest meeting minutes, released Wednesday, showed that officials plan to&nbsp;keep the pace of asset purchases the same for some time as the central bank works to support stable prices and maximum employment.</p><p>To Evercore ISI equity strategist Dennis DeBusschere, the market is not completely convinced that robust economic growth and inflation will not force the central bank's hand sooner.</p><p>\"The market is forecasting that the Fed will have to raise rates way before they are saying they will,\" he said in an email. \"The question is if the Fed raises rates before inflation has moved above 2% for some time.\"</p><p>If they stick to their plan, yield curves will steepen as growth outlook improves and the unemployment rate falls, DeBusschere added. \"It is about OUTCOMES.\"</p><p>President Joe Biden spoke on Wednesday from Washington about his administration’s $2 trillion infrastructure plan that includes a corporate tax rate hike to 28% and noted that&nbsp;he is willing to negotiate on the proposed tax increase.</p><p>The proposed increase to the corporate tax is thought to be a key source of tax revenue for the White House infrastructure plan and is a non-starter for Republicans, who say they are concerned about tax increases as the U.S. economy emerges from the Covid-19 pandemic.</p><p>Separately, the Treasury Department said that Biden’s tax proposals would generate about $2.5 trillion over 15 years in an effort to pay for eight years of spending on roads, bridges, transit, broadband and other projects.</p><p>Fiscal support is considered a key driver of the past month’s equity records and strong economic data, including a stronger-than-expected March jobs report. The S&amp;P 500, Dow industrials and Nasdaq Composite are all coming off their fourth straight quarter of gains as the economic recovery from Covid-19 accelerates.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 hits another all-time high as Big Tech stocks rally</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 hits another all-time high as Big Tech stocks rally\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-08 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The S&amp;P 500 rose to reach another record high on Thursday amid a strong rally in major technology stocks.</p><p>The broad equity benchmark gained 0.3% to hit an all-time high after closing at a record in the previous session. The tech-heavy Nasdaq Composite rallied 0.8% as the 'FAANG' tech shares of Facebook, Amazon, Apple, Netflix and Google-parent Alphabet were all about 1% higher. The Dow Jones Industrial Average was flat.</p><p><img src=\"https://static.tigerbbs.com/813a73982425b7194b24d9be1d9148b1\" tg-width=\"1080\" tg-height=\"427\" referrerpolicy=\"no-referrer\"></p><p>Investors processed a worse-than-expected reading on the latest weekly jobless claims.A total of 744,000&nbsp;Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday. Economists polled by Dow Jones expect first-time claims to total 694,000.</p><p>The&nbsp;Federal Reserve's latest meeting minutes, released Wednesday, showed that officials plan to&nbsp;keep the pace of asset purchases the same for some time as the central bank works to support stable prices and maximum employment.</p><p>To Evercore ISI equity strategist Dennis DeBusschere, the market is not completely convinced that robust economic growth and inflation will not force the central bank's hand sooner.</p><p>\"The market is forecasting that the Fed will have to raise rates way before they are saying they will,\" he said in an email. \"The question is if the Fed raises rates before inflation has moved above 2% for some time.\"</p><p>If they stick to their plan, yield curves will steepen as growth outlook improves and the unemployment rate falls, DeBusschere added. \"It is about OUTCOMES.\"</p><p>President Joe Biden spoke on Wednesday from Washington about his administration’s $2 trillion infrastructure plan that includes a corporate tax rate hike to 28% and noted that&nbsp;he is willing to negotiate on the proposed tax increase.</p><p>The proposed increase to the corporate tax is thought to be a key source of tax revenue for the White House infrastructure plan and is a non-starter for Republicans, who say they are concerned about tax increases as the U.S. economy emerges from the Covid-19 pandemic.</p><p>Separately, the Treasury Department said that Biden’s tax proposals would generate about $2.5 trillion over 15 years in an effort to pay for eight years of spending on roads, bridges, transit, broadband and other projects.</p><p>Fiscal support is considered a key driver of the past month’s equity records and strong economic data, including a stronger-than-expected March jobs report. The S&amp;P 500, Dow industrials and Nasdaq Composite are all coming off their fourth straight quarter of gains as the economic recovery from Covid-19 accelerates.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193576971","content_text":"The S&P 500 rose to reach another record high on Thursday amid a strong rally in major technology stocks.The broad equity benchmark gained 0.3% to hit an all-time high after closing at a record in the previous session. The tech-heavy Nasdaq Composite rallied 0.8% as the 'FAANG' tech shares of Facebook, Amazon, Apple, Netflix and Google-parent Alphabet were all about 1% higher. The Dow Jones Industrial Average was flat.Investors processed a worse-than-expected reading on the latest weekly jobless claims.A total of 744,000 Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday. Economists polled by Dow Jones expect first-time claims to total 694,000.The Federal Reserve's latest meeting minutes, released Wednesday, showed that officials plan to keep the pace of asset purchases the same for some time as the central bank works to support stable prices and maximum employment.To Evercore ISI equity strategist Dennis DeBusschere, the market is not completely convinced that robust economic growth and inflation will not force the central bank's hand sooner.\"The market is forecasting that the Fed will have to raise rates way before they are saying they will,\" he said in an email. \"The question is if the Fed raises rates before inflation has moved above 2% for some time.\"If they stick to their plan, yield curves will steepen as growth outlook improves and the unemployment rate falls, DeBusschere added. \"It is about OUTCOMES.\"President Joe Biden spoke on Wednesday from Washington about his administration’s $2 trillion infrastructure plan that includes a corporate tax rate hike to 28% and noted that he is willing to negotiate on the proposed tax increase.The proposed increase to the corporate tax is thought to be a key source of tax revenue for the White House infrastructure plan and is a non-starter for Republicans, who say they are concerned about tax increases as the U.S. economy emerges from the Covid-19 pandemic.Separately, the Treasury Department said that Biden’s tax proposals would generate about $2.5 trillion over 15 years in an effort to pay for eight years of spending on roads, bridges, transit, broadband and other projects.Fiscal support is considered a key driver of the past month’s equity records and strong economic data, including a stronger-than-expected March jobs report. The S&P 500, Dow industrials and Nasdaq Composite are all coming off their fourth straight quarter of gains as the economic recovery from Covid-19 accelerates.","news_type":1},"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":348808671,"gmtCreate":1617899199693,"gmtModify":1634295858062,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hopefully is a good indication[财迷]&nbsp;","listText":"Hopefully is a good indication[财迷]&nbsp;","text":"Hopefully is a good indication[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348808671","repostId":"2125770926","repostType":4,"repost":{"id":"2125770926","pubTimestamp":1617888481,"share":"https://www.laohu8.com/m/news/2125770926?lang=&edition=full","pubTime":"2021-04-08 21:28","market":"hk","language":"en","title":"Charlie Munger Just Bought Alibaba Stock: Should You?","url":"https://stock-news.laohu8.com/highlight/detail?id=2125770926","media":"Motley Fool","summary":"Warren Buffett's longtime partner just took a big stake in the Chinese e-commerce giant.","content":"<p>Warren Buffett's longtime partner just took a big stake in the Chinese e-commerce giant.</p>\n<p>Many investors follow Warren Buffett's every move, but many also pay close attention to his longtime partner and <b>Berkshire Hathaway</b> (NYSE:BRK.A) (NYSE:BRK.B) Vice Chairman Charlie Munger. Munger, 97, is still active in the investing world, not only through his activities at Berkshire, but also as chairman of the <b>Daily Journal Corporation </b>(NASDAQ:DJCO).</p>\n<p>Munger bought the Daily Journal decades ago when he was still running his own investment fund, for just $2.5 million. After his fund dissolved, Munger distributed shares to his partners, but he still owns around 3.6% of the company, now valued at a whopping $455 million.</p>\n<p>One interesting feature of the Daily Journal, which historically published a legal newspaper and more recently began selling courthouse software, is that it takes cash flow from its core businesses and reinvests it into equities, mostly large U.S. banks.</p>\n<p>This week, Munger and company turned some heads when the Daily Journal disclosed a $37 million stake in Chinese e-commerce giant <b>Alibaba Group Holding</b>&nbsp;(NYSE:BABA), good for 19% of the company's equity portfolio, making it the company's third-largest position behind <b>Bank of America</b>&nbsp;and <b>Wells Fargo</b>.</p>\n<p>Is Alibaba really a Munger-style value stock? And should you follow him into the Chinese giant?</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/088bcf56b1eb756386dbb32f48ea441c\" tg-width=\"700\" tg-height=\"432\"><span>Image source: Getty Images.</span></p>\n<h2>The case for Alibaba as a value stock</h2>\n<p>Alibaba's stock has languished somewhat recently despite delivering good results, so it's no wonder Munger might have thought the company a good value at today's prices. The recent controversy around founder Jack Ma and the aborted IPO for Ant Financial, of which Alibaba holds a <a href=\"https://laohu8.com/S/AONE\">one</a>-third stake, has likely played a role. Antitrust concerns in China have been an added drag. Furthermore, Alibaba is facing stiff competition in the e-commerce space from <b>JD.com</b>&nbsp;as well as the explosive discount-buying upstart <b>Pinduoduo</b>.</p>\n<p>However, Buffett once quipped, \"You pay a high price for a cheery consensus.\" Amid these concerns, Alibaba trades just around 25 times trailing earnings and under 19 times this year's earnings estimates. That's much cheaper than all of the FAANG stocks in the U.S., which is surprising given Alibaba's still strong growth rates and the growing middle class in China.</p>\n<h2>But Alibaba may be even cheaper than that</h2>\n<p>As is the case with several large technology conglomerates, Munger may be looking at various parts of Alibaba's sprawling empire, and might have realized these parts add up to much more than Alibaba's current market value.</p>\n<p>For <a href=\"https://laohu8.com/S/AONE.U\">one</a> thing, Alibaba has a significant amount of cash on its balance sheet, along with large stakes in private companies like Ant Group as well as publicly traded companies. As of Dec. 31, 2021, its balance sheet included $47.8 billion in cash, $22.1 billion in short-term securities, $36.8 billion in other publicly traded equity securities, and another $28.4 billion in equity method investees, such as Ant Group. Those assets add up to $135.1 billion, against just about $18 billion in short and long-term debt.</p>\n<p>So while Alibaba currently sports a market cap of $615 billion or so, it's really only about $500 billion when stripping out these net assets. That's very cheap compared with Alibaba's current operating income, which totaled $14.9 billion through the first nine months of fiscal 2021, good for nearly a $20 billion run rate.</p>\n<p>Yet even that operating income figure may underrate Alibaba's true earnings power. That's because the company is aggressively investing the large cash flows from its core e-commerce platform into other parts of its operations. In fact, Alibaba is experiencing losses in a large number of its higher-growth business, including its local consumer services business, logistics arm Cainiao, Southeast Asian e-commerce firm Lazada Group, and its cloud computing and digital entertainment businesses. Over the past nine months, these cumulative losses decreased real operating income by about $5 billion, even though these divisions likely have significant positive value.</p>\n<h2>It all adds up to a bargain, in Munger's eyes</h2>\n<p>One could say Alibaba's core e-commerce operating income was almost $20 billion for the nine months ended in December, good for an annual run rate around $26 billion. Against $500 billion in enterprise value, that's less than a 20 times EBIT multiple. And this is for a company that grew revenue 37% last quarter. That seems like a pretty good deal.</p>\n<p>One particular reason to be bullish is Alibaba's cloud computing division. Last quarter, cloud revenue was up 50%, and that division also just recorded its first quarter of positive adjusted EBITA. Most think cloud is in its relatively early stages, especially in China, so that division likely has significant value going forward that hasn't contributed anything to overall company operating profits yet.</p>\n<h2>Alibaba looks like a good deal, if you can handle the China risk</h2>\n<p>All in all, Alibaba stock looks like a great value, provided investors can handle the China risk. Of note, the SEC just adopted a rule that will require U.S.-listed Chinese companies to be audited by U.S. tax authorities, as well as disclose Communist Party affiliations. Therefore, some Chinese securities have sold off on further U.S.-China tension fears.</p>\n<p>However, Munger is a noted bull on China. He may think these headlines are more dire than the business reality. If that turns out to be true, he and the Daily Journal may have indeed gotten a bargain in Alibaba's stock.</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>Charlie Munger Just Bought Alibaba Stock: Should You?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCharlie Munger Just Bought Alibaba Stock: Should You?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 21:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/08/charlie-munger-just-bought-alibaba-stock-should-yo/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett's longtime partner just took a big stake in the Chinese e-commerce giant.\nMany investors follow Warren Buffett's every move, but many also pay close attention to his longtime partner ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/08/charlie-munger-just-bought-alibaba-stock-should-yo/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-SW","BRK.A":"伯克希尔","BABA":"阿里巴巴","BRK.B":"伯克希尔B","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"https://www.fool.com/investing/2021/04/08/charlie-munger-just-bought-alibaba-stock-should-yo/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125770926","content_text":"Warren Buffett's longtime partner just took a big stake in the Chinese e-commerce giant.\nMany investors follow Warren Buffett's every move, but many also pay close attention to his longtime partner and Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) Vice Chairman Charlie Munger. Munger, 97, is still active in the investing world, not only through his activities at Berkshire, but also as chairman of the Daily Journal Corporation (NASDAQ:DJCO).\nMunger bought the Daily Journal decades ago when he was still running his own investment fund, for just $2.5 million. After his fund dissolved, Munger distributed shares to his partners, but he still owns around 3.6% of the company, now valued at a whopping $455 million.\nOne interesting feature of the Daily Journal, which historically published a legal newspaper and more recently began selling courthouse software, is that it takes cash flow from its core businesses and reinvests it into equities, mostly large U.S. banks.\nThis week, Munger and company turned some heads when the Daily Journal disclosed a $37 million stake in Chinese e-commerce giant Alibaba Group Holding (NYSE:BABA), good for 19% of the company's equity portfolio, making it the company's third-largest position behind Bank of America and Wells Fargo.\nIs Alibaba really a Munger-style value stock? And should you follow him into the Chinese giant?\nImage source: Getty Images.\nThe case for Alibaba as a value stock\nAlibaba's stock has languished somewhat recently despite delivering good results, so it's no wonder Munger might have thought the company a good value at today's prices. The recent controversy around founder Jack Ma and the aborted IPO for Ant Financial, of which Alibaba holds a one-third stake, has likely played a role. Antitrust concerns in China have been an added drag. Furthermore, Alibaba is facing stiff competition in the e-commerce space from JD.com as well as the explosive discount-buying upstart Pinduoduo.\nHowever, Buffett once quipped, \"You pay a high price for a cheery consensus.\" Amid these concerns, Alibaba trades just around 25 times trailing earnings and under 19 times this year's earnings estimates. That's much cheaper than all of the FAANG stocks in the U.S., which is surprising given Alibaba's still strong growth rates and the growing middle class in China.\nBut Alibaba may be even cheaper than that\nAs is the case with several large technology conglomerates, Munger may be looking at various parts of Alibaba's sprawling empire, and might have realized these parts add up to much more than Alibaba's current market value.\nFor one thing, Alibaba has a significant amount of cash on its balance sheet, along with large stakes in private companies like Ant Group as well as publicly traded companies. As of Dec. 31, 2021, its balance sheet included $47.8 billion in cash, $22.1 billion in short-term securities, $36.8 billion in other publicly traded equity securities, and another $28.4 billion in equity method investees, such as Ant Group. Those assets add up to $135.1 billion, against just about $18 billion in short and long-term debt.\nSo while Alibaba currently sports a market cap of $615 billion or so, it's really only about $500 billion when stripping out these net assets. That's very cheap compared with Alibaba's current operating income, which totaled $14.9 billion through the first nine months of fiscal 2021, good for nearly a $20 billion run rate.\nYet even that operating income figure may underrate Alibaba's true earnings power. That's because the company is aggressively investing the large cash flows from its core e-commerce platform into other parts of its operations. In fact, Alibaba is experiencing losses in a large number of its higher-growth business, including its local consumer services business, logistics arm Cainiao, Southeast Asian e-commerce firm Lazada Group, and its cloud computing and digital entertainment businesses. Over the past nine months, these cumulative losses decreased real operating income by about $5 billion, even though these divisions likely have significant positive value.\nIt all adds up to a bargain, in Munger's eyes\nOne could say Alibaba's core e-commerce operating income was almost $20 billion for the nine months ended in December, good for an annual run rate around $26 billion. Against $500 billion in enterprise value, that's less than a 20 times EBIT multiple. And this is for a company that grew revenue 37% last quarter. That seems like a pretty good deal.\nOne particular reason to be bullish is Alibaba's cloud computing division. Last quarter, cloud revenue was up 50%, and that division also just recorded its first quarter of positive adjusted EBITA. Most think cloud is in its relatively early stages, especially in China, so that division likely has significant value going forward that hasn't contributed anything to overall company operating profits yet.\nAlibaba looks like a good deal, if you can handle the China risk\nAll in all, Alibaba stock looks like a great value, provided investors can handle the China risk. Of note, the SEC just adopted a rule that will require U.S.-listed Chinese companies to be audited by U.S. tax authorities, as well as disclose Communist Party affiliations. Therefore, some Chinese securities have sold off on further U.S.-China tension fears.\nHowever, Munger is a noted bull on China. He may think these headlines are more dire than the business reality. If that turns out to be true, he and the Daily Journal may have indeed gotten a bargain in Alibaba's stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":357737021,"gmtCreate":1617296294463,"gmtModify":1634521533274,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"When is Alibaba moving? [傲娇]&nbsp;","listText":"When is Alibaba moving? [傲娇]&nbsp;","text":"When is Alibaba moving? [傲娇]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/357737021","repostId":"2124789091","repostType":4,"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":359160559,"gmtCreate":1616374355071,"gmtModify":1634526204773,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good correction for buying more [财迷]&nbsp;","listText":"Good correction for buying more [财迷]&nbsp;","text":"Good correction for buying more [财迷]","images":[{"img":"https://static.tigerbbs.com/f9c38b1c22ae4bdf1e379f9f21cda9fc","width":"750","height":"1570"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359160559","isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":370645550,"gmtCreate":1618583057770,"gmtModify":1634291927216,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"I think it is just a pullback given that blockchain has been rally for the past week and hit high. Continue to hold no panic [得意]&nbsp;","listText":"I think it is just a pullback given that blockchain has been rally for the past week and hit high. Continue to hold no panic [得意]&nbsp;","text":"I think it is just a pullback given that blockchain has been rally for the past week and hit high. Continue to hold no panic [得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/370645550","repostId":"1145242426","repostType":4,"isVote":1,"tweetType":1,"viewCount":424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":379291001,"gmtCreate":1618739275903,"gmtModify":1634291158684,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Is it time to move your money into Crytocurrency! [哇塞]&nbsp;","listText":"Is it time to move your money into Crytocurrency! [哇塞]&nbsp;","text":"Is it time to move your money into Crytocurrency! [哇塞]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/379291001","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","pubTimestamp":1618582708,"share":"https://www.laohu8.com/m/news/1175692875?lang=&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p>How to trade this?</p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><blockquote>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b></blockquote><p>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p>","source":"lsy1583725640930","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>$544 Billion In Options Expire Today: Here's What Will Move</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n$544 Billion In Options Expire Today: Here's What Will Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":783,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":373832380,"gmtCreate":1618837883940,"gmtModify":1634290512623,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Netflix [比心]&nbsp;","listText":"Netflix [比心]&nbsp;","text":"Netflix [比心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/373832380","repostId":"1114523776","repostType":4,"isVote":1,"tweetType":1,"viewCount":574,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":345642327,"gmtCreate":1618313309969,"gmtModify":1634293792042,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Just about to take flight, in the end [喷血]&nbsp;","listText":"Just about to take flight, in the end [喷血]&nbsp;","text":"Just about to take flight, in the end [喷血]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345642327","repostId":"1178797310","repostType":4,"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":357737021,"gmtCreate":1617296294463,"gmtModify":1634521533274,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"When is Alibaba moving? [傲娇]&nbsp;","listText":"When is Alibaba moving? [傲娇]&nbsp;","text":"When is Alibaba moving? [傲娇]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/357737021","repostId":"2124789091","repostType":4,"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":342472820,"gmtCreate":1618239532060,"gmtModify":1634294213700,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Looking good [贱笑]&nbsp;","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Looking good [贱笑]&nbsp;","text":"$Tesla Motors(TSLA)$Looking good [贱笑]","images":[{"img":"https://static.tigerbbs.com/cfa00f45919e4aac8fd0eb04352b230c","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342472820","isVote":1,"tweetType":1,"viewCount":480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":342299718,"gmtCreate":1618218027134,"gmtModify":1634294374987,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Worry news = good news [开心]&nbsp;","listText":"Worry news = good news [开心]&nbsp;","text":"Worry news = good news [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342299718","repostId":"1188275625","repostType":2,"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":346277495,"gmtCreate":1618059453617,"gmtModify":1631887151986,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Considering ARK ETF [思考]&nbsp;","listText":"Considering ARK ETF [思考]&nbsp;","text":"Considering ARK ETF [思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346277495","repostId":"1119761514","repostType":4,"repost":{"id":"1119761514","pubTimestamp":1617958209,"share":"https://www.laohu8.com/m/news/1119761514?lang=&edition=full","pubTime":"2021-04-09 16:50","market":"us","language":"en","title":"ARKK's $50 Billion Problem","url":"https://stock-news.laohu8.com/highlight/detail?id=1119761514","media":"seekingalpha","summary":"Summary\n\nARKK has been one of the most successful ETFs in recent years.\nSuccess brings its own set o","content":"<p><b>Summary</b></p>\n<ul>\n <li>ARKK has been one of the most successful ETFs in recent years.</li>\n <li>Success brings its own set of challenges, namely rising assets under management.</li>\n <li>Few investment managers are able to effectively manage the amount of money that has flown to ARKK these past few months. I'm not sure that ARKK itself can do so.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42bac5d199f39bef07dcc2bc98b69f0\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Igor Kutyaev/iStock via Getty Images</span></p>\n<p>The ARK Innovation ETF (ARKK) has been one of the best-performing ETFs these past few years, due to a strong management team, and an outstanding investment strategy. Said strategy focuses on disruptive innovators, or companies developing highly innovative products with the potential for market-beating returns. ARKK's success has led to ballooning assets under management, which threaten the viability of the fund's investment strategy.</p>\n<p>ARKK has too much money, and nowhere to put it.</p>\n<p>Few asset managers can successfully manage tens of billions, none can match the triple-digit returns ARKK accomplished in the past. ARKK's investment managers will be/have been forced to pivot their strategy towards managing a portfolio of large-cap tech stocks and similar, hopefully achieving some incremental returns or alpha. Few asset managers have successfully managed similar pivots in the past, so I'm concerned about ARKK's capacity to do so.</p>\n<p>In my opinion, ARKK is no longer a compelling investment opportunity. Risks are still sky-high but potential returns are much lower, albeit still quite high. As such, I'm currently neutral about the fund.</p>\n<p><b>Peter Lynch and the Magellan Fund</b></p>\n<p>Let's start with a quick history lesson. I think it will prove instructive.</p>\n<p>Before Cathie Wood and ARKK there was Peter Lynch and the Fidelity Magellan Fund.</p>\n<p>Lynch's strategy as fund manager was quite different from that employed by ARKK. Lynch focused on more traditional large-cap U.S. equities, think General Electric (GE) or Philip Morris(NYSE:PM), and coined the phrase<i>invest in what you know</i>, which summarizes his investment philosophy. Lynch's performance track record was, however, similar to that of ARKK. Under Lynch's watch, the Magellan Fund consistently outperformed the S&amp;P 500 by double-digits, with annual returns of over 29%:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e9fcf03b6b8ccbe8c49654cebd638959\" tg-width=\"527\" tg-height=\"405\"><span>Source: Yahoo.com - Chart by author</span></p>\n<p>The above downplays Lynch's performance. Consistent double-digit annual outperformance compounds very, very quickly, leading to eye-watering returns. During Lynch's fourteen-year tenure at the fund, investors saw their investments multiply&nbsp;<b>25</b>&nbsp;times in value, compared to about 5.5 times for the S&amp;P 500. Extremely few investment managers have achieved comparable results.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e02cdfb88d7c904d3f0bdf833b30dae\" tg-width=\"481\" tg-height=\"289\"><span>Source: Yahoo.com - Chart by author</span></p>\n<p>Compared to ARKK, returns were somewhat lower, but much more consistent, owing to Lynch's highly diversified portfolios.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b1eb89ef2fa0e4d216260ca53133631\" tg-width=\"640\" tg-height=\"476\"><span>Source: ARKK Corporate Website</span></p>\n<p>As returns grew so did assets under management, as investors, understandably, sought to profit from Lynch's success. Under his tenure, AUM grew from $18 million to $14 billion. Magellan became the largest investment fund in the world, and Fidelity earned a lot in fees:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc1991d9fc3b4f7c987fcb4589775268\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Magellan was incredibly successful. Too successful, in fact.</p>\n<p>As AUMs grew Lynch and his team had issues generating alpha. There are only so many mispriced stocks out there, plus large funds have to take care not to move markets as they enter or exit positions. Take a look at Magellan's yearly returns above, and you'll see that outperformance decreased after 1986, when AUMs reached $4 billion. The fund also underperformed during 1987 and 1990, after, and only after, it had grown in size. Consistent double-digit outperformance and returns were easy when the fund had a billion or two in assets, more difficult when these grew to the tens of billions.</p>\n<p>Assets continued to grow. Alpha became ever more difficult to find. Management grew weary. By 1997, Fidelity decided to close the Magellan Fund to new investors, in the hopes that lower, more stable AUMs would lead to sustainable long-term alpha. AUMs stabilized, but the fund never managed to consistently outperform again:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/483a8bd392efc3391e6d930018cddd57\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>Magellan was, ultimately, a victim of its own success, although Lynch left the firm and the fund before that happened. Perhaps he saw the writing on the wall, although I'm guessing he thought he could earn more money on his own.</p>\n<p>Other investment managers, including Warren Buffett, have had similar issues to Lynch, and most are quite forthcoming about the issues with managing large amounts of money.</p>\n<p>Which brings me to Wood and ARKK.</p>\n<p>ARKK started out in late 2014 as a small, niche innovation fund. AUMs were quite low at first, started to grow in 2017, and reached a respectable $1.86 billion by 2020:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6c18aed663d62ec32e1965f0831b7a16\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Returns were lackluster at first, but started to improve during 2017, preceding AUM growth:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0f52d824415fff6d263a510a2b003b7d\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>Then the coronavirus pandemic hit, causing a rotation towards tech and tech-adjacent stocks. ARKK was well-positioned to take advantage of these trends. The fund was heavily invested in industries like fintech and biotech, both of which saw increased revenues, earnings, share prices and valuations during the pandemic. Returns skyrocketed to triple-digits, with the fund significantly outperforming the market:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34c4c7d712147eedfe1ca64c47009a04\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>AUMs grew even faster, with the fund ballooning from less than 2 billion to over 24 billion in just over a year. Collective, actively-managed ARKK funds hold over $50 billion in assets:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27b509641ebe8e6dcea150a0c02ce5e1\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Asset growth has, however, coincided with lower returns. The fund is down more than 18% since AUMs peaked at over $25 billion:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b543438ea47c45a87a52d866239ba7aa\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>The stories seem awfully familiar.</p>\n<p>As should be clear from the above, I believe that what happened to the Magellan Fund could happen to ARKK.</p>\n<p>There is precedent for large funds to underperform. It is extremely difficult to generate alpha at scale. Most asset managers are simply unable to do so. Wood and ARKK could be the exceptions, but exceptions are rare, and investors shouldn't assume that ARKK will be one.</p>\n<p>Most of my thoughts and concerns with size are simply due to the historical precedent, hence the analysis of Lynch and Magellan. Still, I think that a close look at ARKK's strategy can help explain why size could be such a drag on the fund's performance. Let's have a look.</p>\n<p><b>ARKK Strategy Analysis</b></p>\n<p>ARKK's strategy is quite simple. The company invests in disruptive innovators, or companies developing technologies with the potential for significant world-altering effects. ARKK first selects innovation themes, basically highly innovative industries, and then selects appropriate stocks from these. I covered the fund's strategy in more depthhere.</p>\n<p>These are ARKK's ten largest holdings in January 2020, before the pandemic, and before their explosive growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9bb0ea10ffad2b4c664a7fef70eecc3\" tg-width=\"640\" tg-height=\"235\"><span>Source: ARKK Corporate Website - Chart by author</span></p>\n<p>As can be seen above, the average ARKK holding was a small company, with a market cap below $5 billion, little in revenues or earnings, but the potential for strong revenue growth and outsized gains. The typical company was something like Crispr (CRSP), which develops gene-editing technology, or Invitae (NVTA), which develops genetic testing equipment. ARKK's job was to separate the wheat from the chaff. You want the innovative companies, you don't want the \"frauds\" like Theranos. As these are small companies, ARKK generally held a sizable percentage of their market cap. Low single digits was common, rising to double-digits for a few of the smaller names.</p>\n<p>ARKK also had large investments in mid-cap stocks like Square (SQ) and Illumina (ILMN). These were all relatively large companies, but with a strong growth pathway, and have all performed reasonably well.</p>\n<p>ARKK's largest, most controversial, and sole large-cap stake was in Tesla (TSLA). The fund's managers had identified the company as a key player in the burgeoning electric vehicle industry, and thought it offered the strongest potential returns in the entire equities market. They were right.</p>\n<p>The strategy and holdings above were very effective and profitable in the past, but shouldn't work as well as AUMs grow. This is the case for three key reasons.</p>\n<p>First, is the simple fact that a large fund can't effectively focus on small-cap stocks, there are only so many of these, and not enough for a fund with tens of billions in AUMs. As an example, ARKK had $86 million invested in CRISPR last year. For a $2 billion fund, that is a sizable investment. For a $20 billion fund, that is basically peanuts, equivalent to less than 0.5% of its holdings. It is impossible to build a high-conviction actively-managed portfolio in a very niche industry if you need hundreds of holdings, so ARKK will simply dump this aspect of its erstwhile successful investment strategy.</p>\n<p>Looking at ARKK's current largest holdings, it seems that the above is the case:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f936d1dd0ed83b4f7d7c694b9af2279c\" tg-width=\"640\" tg-height=\"186\"><span>Source: ARKK Corporate Website - Chart by author</span></p>\n<p>As can be seen above, ARKK now invests more heavily into larger corporations, with an average market capitalization of $128 billion. ARKK does a similar, more in-depth, calculation of the above, and arrives at a similar (outdated) figure:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c25a8ce3bca2b5765b34f9450feaf13\" tg-width=\"418\" tg-height=\"601\"><span>Source: ARKK Corporate Website - Chart by author</span></p>\n<p>As can be seen above, the average ARKK holding is a $122 billion corporation, quite close to Tesla's market cap last year. I think this is very telling. Tesla was the only large-cap stock ARKK's management team felt was significantly undervalued last year. Today, most of their investments are in companies like Tesla circa 2020. Did management change their perspective on these stocks, or were they forced into large-cap stocks due to rising AUMs? In my opinion, it is definitely the latter, which bodes negatively for the fund's long-term returns.</p>\n<p>Second, is the fact that insofar as ARKK<i>does</i>invest in small-cap names, the fund is forced into holding a significant portion of their float. ARKK and its sister funds own more than 10% of 29 companies, and over 25% of three:</p>\n<p><img src=\"https://static.tigerbbs.com/24db7e3904a14f5b916448f2bcdb021c\" tg-width=\"640\" tg-height=\"245\"></p>\n<p>In most cases, ARK is the biggest institutional investor of these stocks.</p>\n<p>It is very, very difficult to enter or exit into positions of these sizes. In most cases there is simply no buyer for, say, 29% of a stock like Compugen, at least not on a moment's notice. At the same time, in the vast majority of cases you can't enter or exit into a position like this without the market moving against you. Buying a 29% stake in a company will almost always mean the price of the stock increases, selling should have the opposite effect. In simple terms, ARKK is likely being forced to buy high and sell low, a dreadful combination.</p>\n<p>Third, and related to the above, is the fact that holding large stakes in small-cap stocks could prove ruinous if the fund is forced to sell its assets due to investor outflows.</p>\n<p>Let's go through a simple example to show what I mean. During the last week of February, ARKK suffered outflows of about $638 million, equivalent to about 2.7% of the value of the fund. Other ARK funds suffered similar outflows:</p>\n<p><img src=\"https://static.tigerbbs.com/ca89fe18ba14ce75565bd56bbef25abf\" tg-width=\"640\" tg-height=\"371\"></p>\n<p>ARK funds collectively hold 29% of CGEN, or42% of its float:</p>\n<p><img src=\"https://static.tigerbbs.com/449620cc1b39a874a1f0db2ce3a1785f\" tg-width=\"640\" tg-height=\"251\"></p>\n<p>Assume ARKK sold 2.7% of all of its stocks to fund that outflow, that would mean that the company would be forced to sell about 660,000 shares. Volume&nbsp;averages 1,300,000 shares, which means that ARKK selling would constitute 50% of the market for CGEN. You can't sell this much stock without measurably moving the market, meaning that ARKK would be forced to sell their CGEN stock at a sizable loss. This for a<i>2.7% reduction in AUM</i>. A larger reduction in AUM would lead to outsized losses, the fund could even conceivably have liquidity issues.</p>\n<p>Remember, ARKK is the biggest holder, by far, of several stocks. In the case of large outflows, who, exactly, would they sell these stocks to? Themselves? In practice, a buyer is likely to appear sooner or later, but not at a favorable price.</p>\n<p>These issues have proven intractable for other large investment managers to address in the past, and I see no reason why ARKK should be any different. Expect lower returns moving forward.</p>\n<p>ARKK Bull Case Revisited</p>\n<p>Finally, I wanted to remind readers that ARKK remains one of the best-performing ETFs in the market, on the back of the fund's strong management team and investment strategy. The issues, risks, and challenges presented above are very real, but management is well aware of these, and will obviously attempt to generate alpha to the best of their abilities. I'm not confident that they will succeed, but it is definitely a possibility, and investing/betting on that fact would be a reasonable enough position.</p>\n<p>One of ARKK's strengths is their transparency. ARKK's managers consistently explain their overall investment process, their thoughts on their holdings and broader market conditions, as well as issues and challenges faced by the fund. ARK's COO discussed some of the company's liquidity/trading issues in an interview with ETF Trendshere. I think the interview does a good job of presenting the other, more positive, side on the issues raised in this article.</p>\n<p><b>Conclusion</b></p>\n<p>ARKK's rapidly increasing AUMs significantly complicate matters for the fund, reducing returns while increasing the possibility of substantial losses. Investment managers generally see declining performance once assets grow, and I believe the same will likely happen to ARKK. The fund's strong investment strategy and performance track record remain enticing, but the risks are simply too high at the moment, in my opinion at least. As such, the fund is a hold for me.</p>","source":"seekingalpha","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>ARKK's $50 Billion Problem</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\">\nARKK's $50 Billion Problem\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 16:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4418291-arkks-50-billion-problem><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nARKK has been one of the most successful ETFs in recent years.\nSuccess brings its own set of challenges, namely rising assets under management.\nFew investment managers are able to effectively...</p>\n\n<a href=\"https://seekingalpha.com/article/4418291-arkks-50-billion-problem\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF","TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4418291-arkks-50-billion-problem","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1119761514","content_text":"Summary\n\nARKK has been one of the most successful ETFs in recent years.\nSuccess brings its own set of challenges, namely rising assets under management.\nFew investment managers are able to effectively manage the amount of money that has flown to ARKK these past few months. I'm not sure that ARKK itself can do so.\n\nPhoto by Igor Kutyaev/iStock via Getty Images\nThe ARK Innovation ETF (ARKK) has been one of the best-performing ETFs these past few years, due to a strong management team, and an outstanding investment strategy. Said strategy focuses on disruptive innovators, or companies developing highly innovative products with the potential for market-beating returns. ARKK's success has led to ballooning assets under management, which threaten the viability of the fund's investment strategy.\nARKK has too much money, and nowhere to put it.\nFew asset managers can successfully manage tens of billions, none can match the triple-digit returns ARKK accomplished in the past. ARKK's investment managers will be/have been forced to pivot their strategy towards managing a portfolio of large-cap tech stocks and similar, hopefully achieving some incremental returns or alpha. Few asset managers have successfully managed similar pivots in the past, so I'm concerned about ARKK's capacity to do so.\nIn my opinion, ARKK is no longer a compelling investment opportunity. Risks are still sky-high but potential returns are much lower, albeit still quite high. As such, I'm currently neutral about the fund.\nPeter Lynch and the Magellan Fund\nLet's start with a quick history lesson. I think it will prove instructive.\nBefore Cathie Wood and ARKK there was Peter Lynch and the Fidelity Magellan Fund.\nLynch's strategy as fund manager was quite different from that employed by ARKK. Lynch focused on more traditional large-cap U.S. equities, think General Electric (GE) or Philip Morris(NYSE:PM), and coined the phraseinvest in what you know, which summarizes his investment philosophy. Lynch's performance track record was, however, similar to that of ARKK. Under Lynch's watch, the Magellan Fund consistently outperformed the S&P 500 by double-digits, with annual returns of over 29%:\nSource: Yahoo.com - Chart by author\nThe above downplays Lynch's performance. Consistent double-digit annual outperformance compounds very, very quickly, leading to eye-watering returns. During Lynch's fourteen-year tenure at the fund, investors saw their investments multiply 25 times in value, compared to about 5.5 times for the S&P 500. Extremely few investment managers have achieved comparable results.\nSource: Yahoo.com - Chart by author\nCompared to ARKK, returns were somewhat lower, but much more consistent, owing to Lynch's highly diversified portfolios.\nSource: ARKK Corporate Website\nAs returns grew so did assets under management, as investors, understandably, sought to profit from Lynch's success. Under his tenure, AUM grew from $18 million to $14 billion. Magellan became the largest investment fund in the world, and Fidelity earned a lot in fees:\nData by YCharts\nMagellan was incredibly successful. Too successful, in fact.\nAs AUMs grew Lynch and his team had issues generating alpha. There are only so many mispriced stocks out there, plus large funds have to take care not to move markets as they enter or exit positions. Take a look at Magellan's yearly returns above, and you'll see that outperformance decreased after 1986, when AUMs reached $4 billion. The fund also underperformed during 1987 and 1990, after, and only after, it had grown in size. Consistent double-digit outperformance and returns were easy when the fund had a billion or two in assets, more difficult when these grew to the tens of billions.\nAssets continued to grow. Alpha became ever more difficult to find. Management grew weary. By 1997, Fidelity decided to close the Magellan Fund to new investors, in the hopes that lower, more stable AUMs would lead to sustainable long-term alpha. AUMs stabilized, but the fund never managed to consistently outperform again:\nData by YCharts\nMagellan was, ultimately, a victim of its own success, although Lynch left the firm and the fund before that happened. Perhaps he saw the writing on the wall, although I'm guessing he thought he could earn more money on his own.\nOther investment managers, including Warren Buffett, have had similar issues to Lynch, and most are quite forthcoming about the issues with managing large amounts of money.\nWhich brings me to Wood and ARKK.\nARKK started out in late 2014 as a small, niche innovation fund. AUMs were quite low at first, started to grow in 2017, and reached a respectable $1.86 billion by 2020:\nData by YCharts\nReturns were lackluster at first, but started to improve during 2017, preceding AUM growth:\nData by YCharts\nThen the coronavirus pandemic hit, causing a rotation towards tech and tech-adjacent stocks. ARKK was well-positioned to take advantage of these trends. The fund was heavily invested in industries like fintech and biotech, both of which saw increased revenues, earnings, share prices and valuations during the pandemic. Returns skyrocketed to triple-digits, with the fund significantly outperforming the market:\nData by YCharts\nAUMs grew even faster, with the fund ballooning from less than 2 billion to over 24 billion in just over a year. Collective, actively-managed ARKK funds hold over $50 billion in assets:\nData by YCharts\nAsset growth has, however, coincided with lower returns. The fund is down more than 18% since AUMs peaked at over $25 billion:\nData by YCharts\nThe stories seem awfully familiar.\nAs should be clear from the above, I believe that what happened to the Magellan Fund could happen to ARKK.\nThere is precedent for large funds to underperform. It is extremely difficult to generate alpha at scale. Most asset managers are simply unable to do so. Wood and ARKK could be the exceptions, but exceptions are rare, and investors shouldn't assume that ARKK will be one.\nMost of my thoughts and concerns with size are simply due to the historical precedent, hence the analysis of Lynch and Magellan. Still, I think that a close look at ARKK's strategy can help explain why size could be such a drag on the fund's performance. Let's have a look.\nARKK Strategy Analysis\nARKK's strategy is quite simple. The company invests in disruptive innovators, or companies developing technologies with the potential for significant world-altering effects. ARKK first selects innovation themes, basically highly innovative industries, and then selects appropriate stocks from these. I covered the fund's strategy in more depthhere.\nThese are ARKK's ten largest holdings in January 2020, before the pandemic, and before their explosive growth.\nSource: ARKK Corporate Website - Chart by author\nAs can be seen above, the average ARKK holding was a small company, with a market cap below $5 billion, little in revenues or earnings, but the potential for strong revenue growth and outsized gains. The typical company was something like Crispr (CRSP), which develops gene-editing technology, or Invitae (NVTA), which develops genetic testing equipment. ARKK's job was to separate the wheat from the chaff. You want the innovative companies, you don't want the \"frauds\" like Theranos. As these are small companies, ARKK generally held a sizable percentage of their market cap. Low single digits was common, rising to double-digits for a few of the smaller names.\nARKK also had large investments in mid-cap stocks like Square (SQ) and Illumina (ILMN). These were all relatively large companies, but with a strong growth pathway, and have all performed reasonably well.\nARKK's largest, most controversial, and sole large-cap stake was in Tesla (TSLA). The fund's managers had identified the company as a key player in the burgeoning electric vehicle industry, and thought it offered the strongest potential returns in the entire equities market. They were right.\nThe strategy and holdings above were very effective and profitable in the past, but shouldn't work as well as AUMs grow. This is the case for three key reasons.\nFirst, is the simple fact that a large fund can't effectively focus on small-cap stocks, there are only so many of these, and not enough for a fund with tens of billions in AUMs. As an example, ARKK had $86 million invested in CRISPR last year. For a $2 billion fund, that is a sizable investment. For a $20 billion fund, that is basically peanuts, equivalent to less than 0.5% of its holdings. It is impossible to build a high-conviction actively-managed portfolio in a very niche industry if you need hundreds of holdings, so ARKK will simply dump this aspect of its erstwhile successful investment strategy.\nLooking at ARKK's current largest holdings, it seems that the above is the case:\nSource: ARKK Corporate Website - Chart by author\nAs can be seen above, ARKK now invests more heavily into larger corporations, with an average market capitalization of $128 billion. ARKK does a similar, more in-depth, calculation of the above, and arrives at a similar (outdated) figure:\nSource: ARKK Corporate Website - Chart by author\nAs can be seen above, the average ARKK holding is a $122 billion corporation, quite close to Tesla's market cap last year. I think this is very telling. Tesla was the only large-cap stock ARKK's management team felt was significantly undervalued last year. Today, most of their investments are in companies like Tesla circa 2020. Did management change their perspective on these stocks, or were they forced into large-cap stocks due to rising AUMs? In my opinion, it is definitely the latter, which bodes negatively for the fund's long-term returns.\nSecond, is the fact that insofar as ARKKdoesinvest in small-cap names, the fund is forced into holding a significant portion of their float. ARKK and its sister funds own more than 10% of 29 companies, and over 25% of three:\n\nIn most cases, ARK is the biggest institutional investor of these stocks.\nIt is very, very difficult to enter or exit into positions of these sizes. In most cases there is simply no buyer for, say, 29% of a stock like Compugen, at least not on a moment's notice. At the same time, in the vast majority of cases you can't enter or exit into a position like this without the market moving against you. Buying a 29% stake in a company will almost always mean the price of the stock increases, selling should have the opposite effect. In simple terms, ARKK is likely being forced to buy high and sell low, a dreadful combination.\nThird, and related to the above, is the fact that holding large stakes in small-cap stocks could prove ruinous if the fund is forced to sell its assets due to investor outflows.\nLet's go through a simple example to show what I mean. During the last week of February, ARKK suffered outflows of about $638 million, equivalent to about 2.7% of the value of the fund. Other ARK funds suffered similar outflows:\n\nARK funds collectively hold 29% of CGEN, or42% of its float:\n\nAssume ARKK sold 2.7% of all of its stocks to fund that outflow, that would mean that the company would be forced to sell about 660,000 shares. Volume averages 1,300,000 shares, which means that ARKK selling would constitute 50% of the market for CGEN. You can't sell this much stock without measurably moving the market, meaning that ARKK would be forced to sell their CGEN stock at a sizable loss. This for a2.7% reduction in AUM. A larger reduction in AUM would lead to outsized losses, the fund could even conceivably have liquidity issues.\nRemember, ARKK is the biggest holder, by far, of several stocks. In the case of large outflows, who, exactly, would they sell these stocks to? Themselves? In practice, a buyer is likely to appear sooner or later, but not at a favorable price.\nThese issues have proven intractable for other large investment managers to address in the past, and I see no reason why ARKK should be any different. Expect lower returns moving forward.\nARKK Bull Case Revisited\nFinally, I wanted to remind readers that ARKK remains one of the best-performing ETFs in the market, on the back of the fund's strong management team and investment strategy. The issues, risks, and challenges presented above are very real, but management is well aware of these, and will obviously attempt to generate alpha to the best of their abilities. I'm not confident that they will succeed, but it is definitely a possibility, and investing/betting on that fact would be a reasonable enough position.\nOne of ARKK's strengths is their transparency. ARKK's managers consistently explain their overall investment process, their thoughts on their holdings and broader market conditions, as well as issues and challenges faced by the fund. ARK's COO discussed some of the company's liquidity/trading issues in an interview with ETF Trendshere. I think the interview does a good job of presenting the other, more positive, side on the issues raised in this article.\nConclusion\nARKK's rapidly increasing AUMs significantly complicate matters for the fund, reducing returns while increasing the possibility of substantial losses. Investment managers generally see declining performance once assets grow, and I believe the same will likely happen to ARKK. The fund's strong investment strategy and performance track record remain enticing, but the risks are simply too high at the moment, in my opinion at least. As such, the fund is a hold for me.","news_type":1},"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":346274765,"gmtCreate":1618059278657,"gmtModify":1634295031019,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Can buy some healthcare stocks [财迷]&nbsp;","listText":"Can buy some healthcare stocks [财迷]&nbsp;","text":"Can buy some healthcare stocks [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346274765","repostId":"1136941144","repostType":4,"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":348808671,"gmtCreate":1617899199693,"gmtModify":1634295858062,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Hopefully is a good indication[财迷]&nbsp;","listText":"Hopefully is a good indication[财迷]&nbsp;","text":"Hopefully is a good indication[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348808671","repostId":"2125770926","repostType":4,"isVote":1,"tweetType":1,"viewCount":174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":344879225,"gmtCreate":1618401594267,"gmtModify":1634293213670,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/344879225","repostId":"1126332570","repostType":2,"repost":{"id":"1126332570","pubTimestamp":1618372916,"share":"https://www.laohu8.com/m/news/1126332570?lang=&edition=full","pubTime":"2021-04-14 12:01","market":"us","language":"en","title":"Tesla Focus Shifts To Margins","url":"https://stock-news.laohu8.com/highlight/detail?id=1126332570","media":"seekingalpha","summary":"Analysts expect non-GAAP profit to surge this year.Short-term situation could see a number of pressures.Stock at a key technical point right now.One of the largest criticisms of electric vehicle maker Tesla  has been its inability to generate meaningful profits. Despite having a large share of the luxury EV market, the company has posted several years of significant losses in its history. Investors are now hoping that the days of red ink are behind us, which is why the focus must now shift to ke","content":"<p><b>Summary</b></p>\n<ul>\n <li>Analysts expect non-GAAP profit to surge this year.</li>\n <li>Short-term situation could see a number of pressures.</li>\n <li>Stock at a key technical point right now.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00f300f39d8829850b2af6f83fa43c9a\" tg-width=\"1536\" tg-height=\"999\"><span>Photo by Urupong/iStock via Getty Images</span></p>\n<p>One of the largest criticisms of electric vehicle maker Tesla (TSLA) has been its inability to generate meaningful profits. Despite having a large share of the luxury EV market, the company has posted several years of significant losses in its history. Investors are now hoping that the days of red ink are behind us, which is why the focus must now shift to key margin metrics.</p>\n<p>Tesla's GAAP and non-GAAP numbers have always varied wildly due to stock-based compensation. That gap has been quite large recently thanks to Elon Musk's large bonus plan hitting a number of tranches in 2020. Analysts primarily use the adjusted numbers, and Tesla delivered $2.24 in adjusted EPS last year. As the graphic below shows, estimates for this year have been rising for more than a year, with the current average of $4.22 up a bit from the $3.98 average seen at the end of last year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8efe7dc5dee0d26aa4c3862123e6bddf\" tg-width=\"385\" tg-height=\"103\"><span>Source: Seeking Alpha Tesla analyst estimates page</span></p>\n<p>It will be very interesting to see the margin numbers reported when Tesla earnings come out on Monday, April 26th. While the company&nbsp;did beat estimates&nbsp;for Q1 production and deliveries, there was no production of the Model S or X in the quarter. Elon Musk had said on the Q1 conference call that the refreshed versions of those luxury models were in production already and would be delivered in February, but that obviously did not happen. With these being higher margin vehicles in the past, you would figure overall margins will be hurt.</p>\n<p>Q1 also saw sharp rises in key commodity prices like nickel and cobalt, as well as the initial ramp of the Model Y made in China. Tesla skeptics also believe that highly profitable credit sales will fade over time, but it remains to be seen in the short term how much they will contribute. There also were a number of price cuts during the quarter, like for the Model 3 in Japan and a number of European countries. For a time, Tesla also cut prices in the US on the Model Y and also had a much lower priced Standard Range variant that was sold for part of the quarter.</p>\n<p>As the graphic below details, Tesla's GAAP automotive gross margins have mostly been in the mid 20s percentage-wise over the past five quarters. Credit sales have helped quite a bit, but don't forget that this is only just part of the business. Tesla's energy business has seen low margins or negative margins in recent periods, and the services/other segment loses plenty of money each quarter. Overall for Q4 2020, the company's total GAAP gross margin figure was 19.23%, nearly 500 basis points below the automotive segment's GAAP gross margin figure.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c951c203e6189adb5a1cae8b1a41489e\" tg-width=\"640\" tg-height=\"57\"><span>Source: Tesla Q4 2020 investor letter</span></p>\n<p>With almost no Model S/X vehicles sold during the period, company-wide average selling prices will certainly decline. The key question is was Tesla able to keep costs at a reasonable level, or are we going to see a significant drop in gross margins? Management spoke&nbsp;on the conference call&nbsp;about a number of supposedly one-time items that were headwinds in Q4, which if they truly dissipate could really help things in Q1.</p>\n<p>On the operating side, there shouldn't be as much expense given a shorter quarter, less coming from the CEO pay package, and Q4 having a larger part of expenses relating to the employee performance grant process. As a point of reference, the&nbsp;current estimates&nbsp;call for $10.12 billion in Q1 revenue and $0.74 in non-GAAP EPS, compared to $10.74 billion and $0.80 in Q4 2020.</p>\n<p>While the Street expects more than $4 in earnings this year, that number is forecast to surge into the low-double digits by 2024. It certainly helps that expected sharply rising deliveries over time should result in more revenue. However, if there are too many price cuts needed to achieve that growth, whether it be to competition or other factors like global economics, certain margin targets will not be met.</p>\n<p>Don't forget, Tesla's share count is rising over time, which is pressuring the EPS forecast for a given level of net income. The unit sales surge in Japan&nbsp;is a good example&nbsp;of how things can change, as it was driven by price cuts of 13%-17% for the Model 3. I can certainly sell more dollar bills for 90 cents each than I can for 95 cents, but it won't be good for my bottom line.</p>\n<p>As for Tesla shares, they are at a very interesting point right now. They closed Monday just above the 100-day moving average (green line below), but remain under the 50-day (purple line). The current&nbsp;Street price target average&nbsp;implies $60 of downside from here, and the stock's movement until earnings will likely be dependent on whether inflation data results in bond yields moving sharply higher or not. If the stock cannot break above the 50-day, that declining key technical level could provide more resistance, and it brings up the possibility of the stock seeing the dreaded death cross later this year.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ab48feaf079058dba48f4e221d0db55b\" tg-width=\"640\" tg-height=\"271\"><span>Source: Yahoo! Finance</span></p>\n<p>Tesla certainly defied reduced expectations when it reported its Q1 delivery figures, but my primary Q1 focus will be on margins. How profitable will the company be when it is selling almost no Model S/X units, especially with commodity headwinds and the ramp of the China-made Model Y. Analyst estimates are certainly on the rise, with the Street now calling for a more than $2.2 billion improvement in non-GAAP net income this year. Tesla shares have come off their highs as a rise in bond yields have hurt growth names, but a good quarter in terms of margins could help the name get back above a key technical trend line.</p>","source":"seekingalpha","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>Tesla Focus Shifts To Margins</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\">\nTesla Focus Shifts To Margins\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-14 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4418935-tesla-focus-shifts-to-margins><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAnalysts expect non-GAAP profit to surge this year.\nShort-term situation could see a number of pressures.\nStock at a key technical point right now.\n\nPhoto by Urupong/iStock via Getty Images\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4418935-tesla-focus-shifts-to-margins\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4418935-tesla-focus-shifts-to-margins","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1126332570","content_text":"Summary\n\nAnalysts expect non-GAAP profit to surge this year.\nShort-term situation could see a number of pressures.\nStock at a key technical point right now.\n\nPhoto by Urupong/iStock via Getty Images\nOne of the largest criticisms of electric vehicle maker Tesla (TSLA) has been its inability to generate meaningful profits. Despite having a large share of the luxury EV market, the company has posted several years of significant losses in its history. Investors are now hoping that the days of red ink are behind us, which is why the focus must now shift to key margin metrics.\nTesla's GAAP and non-GAAP numbers have always varied wildly due to stock-based compensation. That gap has been quite large recently thanks to Elon Musk's large bonus plan hitting a number of tranches in 2020. Analysts primarily use the adjusted numbers, and Tesla delivered $2.24 in adjusted EPS last year. As the graphic below shows, estimates for this year have been rising for more than a year, with the current average of $4.22 up a bit from the $3.98 average seen at the end of last year.\nSource: Seeking Alpha Tesla analyst estimates page\nIt will be very interesting to see the margin numbers reported when Tesla earnings come out on Monday, April 26th. While the company did beat estimates for Q1 production and deliveries, there was no production of the Model S or X in the quarter. Elon Musk had said on the Q1 conference call that the refreshed versions of those luxury models were in production already and would be delivered in February, but that obviously did not happen. With these being higher margin vehicles in the past, you would figure overall margins will be hurt.\nQ1 also saw sharp rises in key commodity prices like nickel and cobalt, as well as the initial ramp of the Model Y made in China. Tesla skeptics also believe that highly profitable credit sales will fade over time, but it remains to be seen in the short term how much they will contribute. There also were a number of price cuts during the quarter, like for the Model 3 in Japan and a number of European countries. For a time, Tesla also cut prices in the US on the Model Y and also had a much lower priced Standard Range variant that was sold for part of the quarter.\nAs the graphic below details, Tesla's GAAP automotive gross margins have mostly been in the mid 20s percentage-wise over the past five quarters. Credit sales have helped quite a bit, but don't forget that this is only just part of the business. Tesla's energy business has seen low margins or negative margins in recent periods, and the services/other segment loses plenty of money each quarter. Overall for Q4 2020, the company's total GAAP gross margin figure was 19.23%, nearly 500 basis points below the automotive segment's GAAP gross margin figure.\nSource: Tesla Q4 2020 investor letter\nWith almost no Model S/X vehicles sold during the period, company-wide average selling prices will certainly decline. The key question is was Tesla able to keep costs at a reasonable level, or are we going to see a significant drop in gross margins? Management spoke on the conference call about a number of supposedly one-time items that were headwinds in Q4, which if they truly dissipate could really help things in Q1.\nOn the operating side, there shouldn't be as much expense given a shorter quarter, less coming from the CEO pay package, and Q4 having a larger part of expenses relating to the employee performance grant process. As a point of reference, the current estimates call for $10.12 billion in Q1 revenue and $0.74 in non-GAAP EPS, compared to $10.74 billion and $0.80 in Q4 2020.\nWhile the Street expects more than $4 in earnings this year, that number is forecast to surge into the low-double digits by 2024. It certainly helps that expected sharply rising deliveries over time should result in more revenue. However, if there are too many price cuts needed to achieve that growth, whether it be to competition or other factors like global economics, certain margin targets will not be met.\nDon't forget, Tesla's share count is rising over time, which is pressuring the EPS forecast for a given level of net income. The unit sales surge in Japan is a good example of how things can change, as it was driven by price cuts of 13%-17% for the Model 3. I can certainly sell more dollar bills for 90 cents each than I can for 95 cents, but it won't be good for my bottom line.\nAs for Tesla shares, they are at a very interesting point right now. They closed Monday just above the 100-day moving average (green line below), but remain under the 50-day (purple line). The current Street price target average implies $60 of downside from here, and the stock's movement until earnings will likely be dependent on whether inflation data results in bond yields moving sharply higher or not. If the stock cannot break above the 50-day, that declining key technical level could provide more resistance, and it brings up the possibility of the stock seeing the dreaded death cross later this year.\nSource: Yahoo! Finance\nTesla certainly defied reduced expectations when it reported its Q1 delivery figures, but my primary Q1 focus will be on margins. How profitable will the company be when it is selling almost no Model S/X units, especially with commodity headwinds and the ramp of the China-made Model Y. Analyst estimates are certainly on the rise, with the Street now calling for a more than $2.2 billion improvement in non-GAAP net income this year. Tesla shares have come off their highs as a rise in bond yields have hurt growth names, but a good quarter in terms of margins could help the name get back above a key technical trend line.","news_type":1},"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":345433217,"gmtCreate":1618328072939,"gmtModify":1634293664233,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good news for tech stocks. [财迷]&nbsp;","listText":"Good news for tech stocks. [财迷]&nbsp;","text":"Good news for tech stocks. [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345433217","repostId":"2127006017","repostType":4,"repost":{"id":"2127006017","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1618325760,"share":"https://www.laohu8.com/m/news/2127006017?lang=&edition=full","pubTime":"2021-04-13 22:56","market":"hk","language":"en","title":"U.S. Treasury yields slip despite surge in inflation to 2 1/2 -year high","url":"https://stock-news.laohu8.com/highlight/detail?id=2127006017","media":"Dow Jones","summary":"Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer price","content":"<p>Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer prices in March that sent yearly inflation measures to the highest level in two and a half years.</p>\n<p><b>What are Treasurys doing?</b></p>\n<p>The 10-year Treasury note yield fell to 1.659%, down from 1.675% at the end of Monday, while the 2-year note was steady at 0.169%. The 30-year bond yield slid 0.9 basis point to 2.336%.</p>\n<p><b>What's driving Treasurys?</b></p>\n<p>The U.S. consumer price index rose 0.6% in March, while the core gauge that strips out for energy and food prices came in at an 0.3% increase. The annual rate of inflation climbed to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018.</p>\n<p>Long-dated Treasurys have taken a beating so far this year in anticipation of rising inflation, unleashed by the reopening of the U.S. economy in the wake of the coronavirus pandemic.</p>\n<p>But yields didn't surge on Tuesday following the publication of the inflation data as analysts had been expecting a surge in price levels already and the rise in annual inflation partly reflected the recovery from the weak readings last March when the pandemic first impacted the economy.</p>\n<p>Federal Reserve Bank of New York will release its schedule for bond-buying over the next few weeks late Tuesday. This will draw attention after New York Fed official Lorie Logan suggested recently that the central bank will start making tweaks to the amount of its asset purchases in parts of the yield curve.</p>\n<p>Some members of the Fed's rate-setting committee are set to speak on Tuesday, including Philadelphia Fed President Patrick Harker and San Francisco Fed President Mary Daly.</p>\n<p><b>What did market participants say?</b></p>\n<p>\"Markets seemed to be anticipating an upside surprise,\" said said Erik Nelson, a macro strategist at Wells Fargo.</p>\n<p>\"The noise from inflation base effects may also be leading some market participants to simply look through today's print,\" said Nelson.</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>U.S. Treasury yields slip despite surge in inflation to 2 1/2 -year high</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\">\nU.S. Treasury yields slip despite surge in inflation to 2 1/2 -year high\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-04-13 22:56</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer prices in March that sent yearly inflation measures to the highest level in two and a half years.</p>\n<p><b>What are Treasurys doing?</b></p>\n<p>The 10-year Treasury note yield fell to 1.659%, down from 1.675% at the end of Monday, while the 2-year note was steady at 0.169%. The 30-year bond yield slid 0.9 basis point to 2.336%.</p>\n<p><b>What's driving Treasurys?</b></p>\n<p>The U.S. consumer price index rose 0.6% in March, while the core gauge that strips out for energy and food prices came in at an 0.3% increase. The annual rate of inflation climbed to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018.</p>\n<p>Long-dated Treasurys have taken a beating so far this year in anticipation of rising inflation, unleashed by the reopening of the U.S. economy in the wake of the coronavirus pandemic.</p>\n<p>But yields didn't surge on Tuesday following the publication of the inflation data as analysts had been expecting a surge in price levels already and the rise in annual inflation partly reflected the recovery from the weak readings last March when the pandemic first impacted the economy.</p>\n<p>Federal Reserve Bank of New York will release its schedule for bond-buying over the next few weeks late Tuesday. This will draw attention after New York Fed official Lorie Logan suggested recently that the central bank will start making tweaks to the amount of its asset purchases in parts of the yield curve.</p>\n<p>Some members of the Fed's rate-setting committee are set to speak on Tuesday, including Philadelphia Fed President Patrick Harker and San Francisco Fed President Mary Daly.</p>\n<p><b>What did market participants say?</b></p>\n<p>\"Markets seemed to be anticipating an upside surprise,\" said said Erik Nelson, a macro strategist at Wells Fargo.</p>\n<p>\"The noise from inflation base effects may also be leading some market participants to simply look through today's print,\" said Nelson.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127006017","content_text":"Treasury yields slipped Tuesday after bond investors shrugged off an increase in U.S. consumer prices in March that sent yearly inflation measures to the highest level in two and a half years.\nWhat are Treasurys doing?\nThe 10-year Treasury note yield fell to 1.659%, down from 1.675% at the end of Monday, while the 2-year note was steady at 0.169%. The 30-year bond yield slid 0.9 basis point to 2.336%.\nWhat's driving Treasurys?\nThe U.S. consumer price index rose 0.6% in March, while the core gauge that strips out for energy and food prices came in at an 0.3% increase. The annual rate of inflation climbed to 2.6% from 1.7% in the prior month, marking the highest level since the fall of 2018.\nLong-dated Treasurys have taken a beating so far this year in anticipation of rising inflation, unleashed by the reopening of the U.S. economy in the wake of the coronavirus pandemic.\nBut yields didn't surge on Tuesday following the publication of the inflation data as analysts had been expecting a surge in price levels already and the rise in annual inflation partly reflected the recovery from the weak readings last March when the pandemic first impacted the economy.\nFederal Reserve Bank of New York will release its schedule for bond-buying over the next few weeks late Tuesday. This will draw attention after New York Fed official Lorie Logan suggested recently that the central bank will start making tweaks to the amount of its asset purchases in parts of the yield curve.\nSome members of the Fed's rate-setting committee are set to speak on Tuesday, including Philadelphia Fed President Patrick Harker and San Francisco Fed President Mary Daly.\nWhat did market participants say?\n\"Markets seemed to be anticipating an upside surprise,\" said said Erik Nelson, a macro strategist at Wells Fargo.\n\"The noise from inflation base effects may also be leading some market participants to simply look through today's print,\" said Nelson.","news_type":1},"isVote":1,"tweetType":1,"viewCount":686,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":342290799,"gmtCreate":1618217947811,"gmtModify":1631891212278,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Btc has been holding well for the past few days. Vroom vroom vroom! [得意]&nbsp;[比心]&nbsp;","listText":"Btc has been holding well for the past few days. Vroom vroom vroom! [得意]&nbsp;[比心]&nbsp;","text":"Btc has been holding well for the past few days. Vroom vroom vroom! [得意] [比心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342290799","repostId":"1123837168","repostType":2,"isVote":1,"tweetType":1,"viewCount":434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":348806145,"gmtCreate":1617899262887,"gmtModify":1634295857600,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Go go go [哇塞]&nbsp;","listText":"Go go go [哇塞]&nbsp;","text":"Go go go [哇塞]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/348806145","repostId":"1193576971","repostType":4,"isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":359160559,"gmtCreate":1616374355071,"gmtModify":1634526204773,"author":{"id":"3579328321930753","authorId":"3579328321930753","name":"VernardChin","avatar":"https://static.tigerbbs.com/8ef71be07419f9a7c39dbcf8bf33ec4e","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Good correction for buying more [财迷]&nbsp;","listText":"Good correction for buying more [财迷]&nbsp;","text":"Good correction for buying more [财迷]","images":[{"img":"https://static.tigerbbs.com/f9c38b1c22ae4bdf1e379f9f21cda9fc","width":"750","height":"1570"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359160559","isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"lives":[]}