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07:58","market":"us","language":"en","title":"Elon Musk, Other Leaders Sell Stock at Historic Levels as Market Soars, Tax Changes Loom","url":"https://stock-news.laohu8.com/highlight/detail?id=1113743057","media":"The Wall Street Journal","summary":"Company founders and leaders are unloading their stock at historic levels, with some selling shares ","content":"<p>Company founders and leaders are unloading their stock at historic levels, with some selling shares in their businesses for the first time in years, amid soaring market valuations and ahead of possible changes in U.S. and some state tax laws.</p>\n<p>So far this year, 48 top executives have collected more than $200 million each from stock sales, nearly four times the average number of insiders from 2016 through 2020, according to a Wall Street Journal analysis of data from the research firm InsiderScore.</p>\n<p>The wave has included super sellers such as cosmetics billionaire Ronald Lauder and Google co-founders Larry Page and Sergey Brin, who have sold shares for the first time in four years or more as the economic recovery fueled strong growth in sales and profit. Other high-profile insiders—including the Walton family, heirs to the Walmart Inc. WMT 1.39% fortune, and Mark Zuckerberg, chief executive of Facebook parent Meta Platforms Inc. FB -0.22% —have accelerated sales and are on track to break recent records for the number of shares they have sold.</p>\n<p>Across the S&amp;P 500, insiders have sold a record $63.5 billion in shares through November, a 50% increase from all of 2020, driven both by stock-market gains and an increase in sales by some big holders. The technology sector has led with $41 billion in sales across the entire market, up by more than a third, with a smaller amount but an even bigger increase in financial services.</p>\n<p>“What you’re seeing is unprecedented” in recent years, said Daniel Taylor, an accounting professor at the University of Pennsylvania’s Wharton School who studies trading by executives and directors. He said 2021 marks the most sales he can recall by insiders in a decade, resembling waves of sales during the twilight of the early 2000s dot-com boom.</p>\n<p>Insiders have a long history of selling at peaks and buying in troughs, Mr. Taylor said.</p>\n<p>Investors sometimes worry that large sales by insiders mean they don’t expect significant further share-price increases, and big, unexpected sales can weigh on share prices. Companies often require top executives to hold stakes equivalent to several times their annual salary, but many high-profile executives easily exceed those thresholds even after selling.</p>\n<p>Executives aren’t required to say why they sold, and few do. The heaviest selling came as lawmakers in Washington hashed out potential tax increases as part of the Democrats’ Build Back Better legislative package, at times considering raising the long-term capital-gains tax rate. In November, insiders unloaded a collective $15.59 billion.</p>\n<p>The legislation, pending in the Senate, imposes a 5% tax on adjusted gross income above $10 million beginning in 2022, and another 3% on income over $25 million, including capital gains from stock sales. Congressional revenue estimates assume taxpayers will accelerate capital gains in 2021. Wealthy taxpayers could save up to $8 million in taxes on every $100 million of shares sold ahead of the effective date, Mr. Taylor said. Such potential tax savings have been “a powerful incentive to sell this year,” he said.</p>\n<p>Tesla Inc. CEO Elon Musk, considered the world’s richest person, with a net worth of about $270 billion, ridiculed a proposed tax on billionaires’ unrealized capital gains, saying on Twitter that eventually the government runs “out of other people’s money and then they come for you.” He has moved to sell more than $10 billion in Tesla stock over about a month—including roughly $4 billion to cover tax withholding on option exercises—in his first sale of company shares since 2010, other than sales designated as made solely to satisfy tax-withholding obligations.</p>\n<p>Microsoft Corp. CEO Satya Nadella last month sold half his total stake, for about $374 million before taxes. Analysts said the move could be related to Washington state instituting a 7% tax for long-term capital gains next year. A Microsoft spokesman said at the time that the sale was for “personal financial planning and diversification reasons.”</p>\n<p>Another spike in insider-stock sales occurred in May when company leaders sold off $13.12 billion in shares, following strong corporate earnings reports.</p>\n<p>The Journal examined data on company leaders’ stock transactions through Dec. 3, drawn from regulatory filings by InsiderScore. Sales marked as made solely to satisfy tax withholding requirements were excluded. Aggregate figures, through Nov. 30, exclude sales by major shareholders who aren’t also executives or directors.</p>\n<p>About a dozen high-profile founders and CEOs sold millions of dollars in company shares this year after selling none in all of 2020, in several cases selling for the first time in five or 10 years.</p>\n<p>Messrs. Page and Brin last sold stock in Google parent Alphabet Inc. GOOG -0.41% at about $800 a share in 2017, according to InsiderScore. When they returned to the market in May, shares had risen to $2,200. This year, they have each sold nearly 600,000 shares for about $1.5 billion before taxes. Each still owns about 6% of Alphabet, according to FactSet.</p>\n<p>The duo’s sales came as the company reported record revenues and profits more than doubled from a year earlier, and seven months after the Justice Department and state attorneys general filed a civil antitrust lawsuit against Google. The company’s share price reached an all-time high of $3,019.33 on Nov. 19, and has since pulled back to about $2,950.</p>\n<p>An Alphabet spokesman declined to comment. Messrs. Brin and Page didn’t respond to a request for comment.</p>\n<p>Mr. Lauder, the son of Estée Lauder Cos.’ founders, has shed just over two million shares this year, for more than $600 million before taxes in his first sales since 2016.</p>\n<p>Dell Technologies Inc.’s Michael Dell and the Carlyle Group’s David Rubenstein also came off the sidelines over the past year. Mr. Dell sold five million shares for nearly $253 million before taxes, his first since taking Dell public again in 2018. Mr. Rubenstein sold 11 million shares this year for $495 million before taxes, after making his first-ever sale in November 2020. His sales have followed him stepping aside as co-CEO and transitioning into a role as co-chairman.</p>\n<p>A spokesman for Mr. Lauder declined to comment. Spokespeople for Mr. Dell didn’t respond to requests for comment.</p>\n<p>Other insiders continued selling but at a faster clip this year. The Walton family quadrupled the number of shares its members sold, receiving $6.5 billion before taxes so far in 2021, from $1.5 billion in 2020. The sales came in a year when Walmart’s share price flirted with all-time highs, and the company posted higher sales in three quarters.</p>\n<p>Mr. Zuckerberg increased the number of Meta shares he sold nearly sevenfold from a year ago, collecting nearly $4.5 billion before taxes. His selling came as the company reported record sales and earnings, despite challenges presented by iPhone privacy changes and congressional hearings over harms from its platforms following the Journal’s Facebook Files series.</p>\n<p>Walmart and Meta spokespeople said the sales are generally governed by preset trading plans. They said the Walton family’s proceeds help fund nonprofit initiatives, and Mr. Zuckerberg’s fund the Chan Zuckerberg Initiative LLC, his family’s for-profit philanthropic company.</p>\n<p>Executives often sell shares under advance trading arrangements, dubbed 10b5-1 plans, that trigger sales on a fixed schedule or at price thresholds to avoid running afoul of insider-trading rules. The plans were used in almost two-thirds of stock sales last year—up from 30% in 2004—but some investors and regulators worry they can be abused. The Securities and Exchange Commission on Wednesday is scheduled to vote on a proposal that would change the rules governing the trading plans.</p>\n<p>Finance executive Charles Schwab sold the most shares since 2015 in the company he founded, Charles Schwab Corp.: 5.3 million shares for $361 million.</p>\n<p>“People are clearly being opportunistic,” said Ben Silverman, InsiderScore’s director of research. “These guys have been telling you all year that the market is overheated.”</p>\n<p>Soaring stock prices mean some executives raised the same amount of money, or more, selling fewer shares. Snap Inc. CEO Evan Spiegel set a price target to sell between $60 and $80, receiving a total of $710 million before taxes on 10 million shares—more than doubling his 2020 proceeds despite selling three million fewer shares.</p>\n<p>Amazon.com Inc. founder Jeff Bezos typically sells about $10 billion in stock annually to help fund his space venture, Blue Origin LLC. This year, he has sold 25% fewer shares while collecting roughly the same amount of money before taxes because the company’s share price has doubled over the past two years.</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>Elon Musk, Other Leaders Sell Stock at Historic Levels as Market Soars, Tax Changes Loom</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\">\nElon Musk, Other Leaders Sell Stock at Historic Levels as Market Soars, Tax Changes Loom\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-10 07:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/elon-musk-other-leaders-sell-stock-at-historic-levels-as-market-soars-tax-changes-loom-11639089782?mod=hp_lead_pos1><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company founders and leaders are unloading their stock at historic levels, with some selling shares in their businesses for the first time in years, amid soaring market valuations and ahead of ...</p>\n\n<a href=\"https://www.wsj.com/articles/elon-musk-other-leaders-sell-stock-at-historic-levels-as-market-soars-tax-changes-loom-11639089782?mod=hp_lead_pos1\">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","AMZN":"亚马逊","DELL":"戴尔","MSFT":"微软","WMT":"沃尔玛","GOOG":"谷歌"},"source_url":"https://www.wsj.com/articles/elon-musk-other-leaders-sell-stock-at-historic-levels-as-market-soars-tax-changes-loom-11639089782?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113743057","content_text":"Company founders and leaders are unloading their stock at historic levels, with some selling shares in their businesses for the first time in years, amid soaring market valuations and ahead of possible changes in U.S. and some state tax laws.\nSo far this year, 48 top executives have collected more than $200 million each from stock sales, nearly four times the average number of insiders from 2016 through 2020, according to a Wall Street Journal analysis of data from the research firm InsiderScore.\nThe wave has included super sellers such as cosmetics billionaire Ronald Lauder and Google co-founders Larry Page and Sergey Brin, who have sold shares for the first time in four years or more as the economic recovery fueled strong growth in sales and profit. Other high-profile insiders—including the Walton family, heirs to the Walmart Inc. WMT 1.39% fortune, and Mark Zuckerberg, chief executive of Facebook parent Meta Platforms Inc. FB -0.22% —have accelerated sales and are on track to break recent records for the number of shares they have sold.\nAcross the S&P 500, insiders have sold a record $63.5 billion in shares through November, a 50% increase from all of 2020, driven both by stock-market gains and an increase in sales by some big holders. The technology sector has led with $41 billion in sales across the entire market, up by more than a third, with a smaller amount but an even bigger increase in financial services.\n“What you’re seeing is unprecedented” in recent years, said Daniel Taylor, an accounting professor at the University of Pennsylvania’s Wharton School who studies trading by executives and directors. He said 2021 marks the most sales he can recall by insiders in a decade, resembling waves of sales during the twilight of the early 2000s dot-com boom.\nInsiders have a long history of selling at peaks and buying in troughs, Mr. Taylor said.\nInvestors sometimes worry that large sales by insiders mean they don’t expect significant further share-price increases, and big, unexpected sales can weigh on share prices. Companies often require top executives to hold stakes equivalent to several times their annual salary, but many high-profile executives easily exceed those thresholds even after selling.\nExecutives aren’t required to say why they sold, and few do. The heaviest selling came as lawmakers in Washington hashed out potential tax increases as part of the Democrats’ Build Back Better legislative package, at times considering raising the long-term capital-gains tax rate. In November, insiders unloaded a collective $15.59 billion.\nThe legislation, pending in the Senate, imposes a 5% tax on adjusted gross income above $10 million beginning in 2022, and another 3% on income over $25 million, including capital gains from stock sales. Congressional revenue estimates assume taxpayers will accelerate capital gains in 2021. Wealthy taxpayers could save up to $8 million in taxes on every $100 million of shares sold ahead of the effective date, Mr. Taylor said. Such potential tax savings have been “a powerful incentive to sell this year,” he said.\nTesla Inc. CEO Elon Musk, considered the world’s richest person, with a net worth of about $270 billion, ridiculed a proposed tax on billionaires’ unrealized capital gains, saying on Twitter that eventually the government runs “out of other people’s money and then they come for you.” He has moved to sell more than $10 billion in Tesla stock over about a month—including roughly $4 billion to cover tax withholding on option exercises—in his first sale of company shares since 2010, other than sales designated as made solely to satisfy tax-withholding obligations.\nMicrosoft Corp. CEO Satya Nadella last month sold half his total stake, for about $374 million before taxes. Analysts said the move could be related to Washington state instituting a 7% tax for long-term capital gains next year. A Microsoft spokesman said at the time that the sale was for “personal financial planning and diversification reasons.”\nAnother spike in insider-stock sales occurred in May when company leaders sold off $13.12 billion in shares, following strong corporate earnings reports.\nThe Journal examined data on company leaders’ stock transactions through Dec. 3, drawn from regulatory filings by InsiderScore. Sales marked as made solely to satisfy tax withholding requirements were excluded. Aggregate figures, through Nov. 30, exclude sales by major shareholders who aren’t also executives or directors.\nAbout a dozen high-profile founders and CEOs sold millions of dollars in company shares this year after selling none in all of 2020, in several cases selling for the first time in five or 10 years.\nMessrs. Page and Brin last sold stock in Google parent Alphabet Inc. GOOG -0.41% at about $800 a share in 2017, according to InsiderScore. When they returned to the market in May, shares had risen to $2,200. This year, they have each sold nearly 600,000 shares for about $1.5 billion before taxes. Each still owns about 6% of Alphabet, according to FactSet.\nThe duo’s sales came as the company reported record revenues and profits more than doubled from a year earlier, and seven months after the Justice Department and state attorneys general filed a civil antitrust lawsuit against Google. The company’s share price reached an all-time high of $3,019.33 on Nov. 19, and has since pulled back to about $2,950.\nAn Alphabet spokesman declined to comment. Messrs. Brin and Page didn’t respond to a request for comment.\nMr. Lauder, the son of Estée Lauder Cos.’ founders, has shed just over two million shares this year, for more than $600 million before taxes in his first sales since 2016.\nDell Technologies Inc.’s Michael Dell and the Carlyle Group’s David Rubenstein also came off the sidelines over the past year. Mr. Dell sold five million shares for nearly $253 million before taxes, his first since taking Dell public again in 2018. Mr. Rubenstein sold 11 million shares this year for $495 million before taxes, after making his first-ever sale in November 2020. His sales have followed him stepping aside as co-CEO and transitioning into a role as co-chairman.\nA spokesman for Mr. Lauder declined to comment. Spokespeople for Mr. Dell didn’t respond to requests for comment.\nOther insiders continued selling but at a faster clip this year. The Walton family quadrupled the number of shares its members sold, receiving $6.5 billion before taxes so far in 2021, from $1.5 billion in 2020. The sales came in a year when Walmart’s share price flirted with all-time highs, and the company posted higher sales in three quarters.\nMr. Zuckerberg increased the number of Meta shares he sold nearly sevenfold from a year ago, collecting nearly $4.5 billion before taxes. His selling came as the company reported record sales and earnings, despite challenges presented by iPhone privacy changes and congressional hearings over harms from its platforms following the Journal’s Facebook Files series.\nWalmart and Meta spokespeople said the sales are generally governed by preset trading plans. They said the Walton family’s proceeds help fund nonprofit initiatives, and Mr. Zuckerberg’s fund the Chan Zuckerberg Initiative LLC, his family’s for-profit philanthropic company.\nExecutives often sell shares under advance trading arrangements, dubbed 10b5-1 plans, that trigger sales on a fixed schedule or at price thresholds to avoid running afoul of insider-trading rules. The plans were used in almost two-thirds of stock sales last year—up from 30% in 2004—but some investors and regulators worry they can be abused. The Securities and Exchange Commission on Wednesday is scheduled to vote on a proposal that would change the rules governing the trading plans.\nFinance executive Charles Schwab sold the most shares since 2015 in the company he founded, Charles Schwab Corp.: 5.3 million shares for $361 million.\n“People are clearly being opportunistic,” said Ben Silverman, InsiderScore’s director of research. “These guys have been telling you all year that the market is overheated.”\nSoaring stock prices mean some executives raised the same amount of money, or more, selling fewer shares. Snap Inc. CEO Evan Spiegel set a price target to sell between $60 and $80, receiving a total of $710 million before taxes on 10 million shares—more than doubling his 2020 proceeds despite selling three million fewer shares.\nAmazon.com Inc. founder Jeff Bezos typically sells about $10 billion in stock annually to help fund his space venture, Blue Origin LLC. 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price soar after merger!&nbsp;","listText":"<a href=\"https://laohu8.com/S/TRCH\">$Torchlight Energy Resources(TRCH)$</a>&nbsp;may the price soar after merger!&nbsp;","text":"$Torchlight Energy Resources(TRCH)$ may the price soar after merger!","images":[{"img":"https://static.tigerbbs.com/1e5df21ae4640a26826219026b6b18b0","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/124224284","isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":691954606,"gmtCreate":1640130130433,"gmtModify":1640130135413,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/691954606","repostId":"861934430","repostType":1,"repost":{"id":861934430,"gmtCreate":1632447652620,"gmtModify":1632723409293,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>up up up","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>up up up","text":"$Tiger Brokers(TIGR)$up up up","images":[{"img":"https://static.tigerbbs.com/14a599fd7164b4f98e60e52ac99be0d7","width":"720","height":"1638"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/690892055","isVote":1,"tweetType":1,"viewCount":550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":127792336,"gmtCreate":1624868089425,"gmtModify":1631884927211,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MMAT\">$Torchlight Energy 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Merger is bringing up the stock price!! I'm glad i hold on to it till Merger! Please continue to rise!&nbsp;","listText":"<a href=\"https://laohu8.com/S/MMAT\">$Torchlight Energy Resources(MMAT)$</a>&nbsp;oh yes! Merger is bringing up the stock price!! I'm glad i hold on to it till Merger! Please continue to rise!&nbsp;","text":"$Torchlight Energy Resources(MMAT)$ oh yes! Merger is bringing up the stock price!! I'm glad i hold on to it till Merger! Please continue to rise!","images":[{"img":"https://static.tigerbbs.com/4c880943c3ccff8d49c33d256ebeba3d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/127792336","isVote":1,"tweetType":1,"viewCount":558,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577511812429374","authorId":"3577511812429374","name":"仙草大叔","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3577511812429374","idStr":"3577511812429374"},"content":"但是股票少了啊","text":"但是股票少了啊","html":"但是股票少了啊"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":820153217,"gmtCreate":1633360653413,"gmtModify":1633360653649,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a 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href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>apple","text":"$Apple(AAPL)$apple","images":[{"img":"https://static.tigerbbs.com/39dc9ac6da51f2eb6ed51a1d38ef726f","width":"1080","height":"3543"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/864929232","isVote":1,"tweetType":1,"viewCount":660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":868893583,"gmtCreate":1632625903142,"gmtModify":1632650039432,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>apple","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>apple","text":"$Apple(AAPL)$apple","images":[{"img":"https://static.tigerbbs.com/d935304626232207c586689765428cad","width":"1080","height":"3543"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/868893583","isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":155762951,"gmtCreate":1625454590973,"gmtModify":1633940526347,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"Support REITs!&nbsp;","listText":"Support REITs!&nbsp;","text":"Support REITs!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/155762951","repostId":"1154888582","repostType":4,"repost":{"id":"1154888582","kind":"news","pubTimestamp":1625453334,"share":"https://www.laohu8.com/m/news/1154888582?lang=&edition=full","pubTime":"2021-07-05 10:48","market":"us","language":"en","title":"Why Warren Buffett Buys REITs Instead Of Rental Properties","url":"https://stock-news.laohu8.com/highlight/detail?id=1154888582","media":"seeking alpha","summary":"Summary\n\nWarren Buffett has a history of favoring REITs over rental properties.\nIn past shareholder ","content":"<p>Summary</p>\n<ul>\n <li>Warren Buffett has a history of favoring REITs over rental properties.</li>\n <li>In past shareholder meetings, he explains that he dislikes private real estate investments for a number of reasons.</li>\n <li>Most importantly, he has no edge in real estate, does not want to deal with the management, and finds it difficult to find opportunities.</li>\n <li>That's why he favors REITs, which he bought as recently as last year.</li>\n <li>Looking for a portfolio of ideas like this <a href=\"https://laohu8.com/S/AONE\">one</a>? Members of High Yield Landlord get exclusive access to our model portfolio.Learn More »</li>\n</ul>\n<p>Feverpitched/iStock via <a href=\"https://laohu8.com/S/GTY\">Getty</a> Images</p>\n<p>In previousarticles, I have explained that despite having a background in private equity real estate investing, I chose to invest my capital into REITs because they're safer and more rewarding in most cases.</p>\n<p>REITs are safer because they're well diversified, professionally managed, liquid, and have better access to capital.</p>\n<p>They're also more rewarding because they enjoy large economies of scale, faster growth, and investors pay much lower transaction costs:</p>\n<p><i>Study shows that REITs outperform private real estate by ~4% per year:</i></p>\n<p><img src=\"https://static.tigerbbs.com/08211e86e46b7ccd368944f838ce3c87\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"></p>\n<p><i>Source</i></p>\n<p>In short, REITs combine the benefits of real estate (high income, inflation protection, appreciation) with the benefits of stocks (liquidity, low transaction cost, professional management, diversification) into <a href=\"https://laohu8.com/S/AONE.U\">one</a> beautiful vehicle that provides better risk-and-hassle adjusted returns than rental properties.</p>\n<p>But don't take it just from me.</p>\n<p>Warren Buffett could build a portfolio of rental properties, and yet, he chooses to invest in REITs instead. By reviewing past annual reports of <a href=\"https://laohu8.com/S/BRK.A\">Berkshire Hathaway</a> (BRK.A) (BRK.B), we find that he has previously invested in Tanger Outlets (SKT), <a href=\"https://laohu8.com/S/GGP\">General Growth Properties</a> ((now Brookfield (BPY)), <a href=\"https://laohu8.com/S/VNO\">Vornado</a> (VNO.PK), <a href=\"https://laohu8.com/S/SRG\">Seritage Growth Properties</a> (SRG), and <a href=\"https://laohu8.com/S/STOR\">STORE Capital</a> (STOR) among others. As recently as last year, he doubled down on <a href=\"https://laohu8.com/S/STOR\">STORE Capital</a> when it dropped following the covid market crash.</p>\n<p>Why doesn't he buy rentals instead?</p>\n<p>That's what we will explore in today's article. Warren Buffett has often discussed this topic in past interviews, and in what follows, we will discuss the five reasons why he favors REITs over rental properties:</p>\n<p>Reason #1: Stick to Your Circle of Competence</p>\n<p>Warren Buffett popularized the motto: \"Know your circle of competence, and stick within it.\"</p>\n<p>He explains that the size of that circle is much less important than knowing its boundaries.</p>\n<p>Put differently, you cannot be a jack of all trades and need to specialize in something to truly master it.</p>\n<p>For Buffett, this was mainly consumer goods and the insurance business. Not surprisingly, he rarely invests in real estate (or even REITs) because that's out of his circle of competence.</p>\n<p>At a shareholdermeeting, when questioned about investing in real estate, Buffett and Charlie Munger added that it's a sector in which they have no competitive advantage. They explain that REITs and large private equity firms would have better resources, expertise, scale, and relationships than them, putting Berkshire at a disadvantage if they tried to invest in real estate.</p>\n<p>This is <a href=\"https://laohu8.com/S/AONE\">one</a> of the main reasons why they rather invest in the shares of REITs. It aligns them with professionals who have better resources and expertise than them.</p>\n<p>As an example, STORE Capitalis the leader in sale-and-leaseback transactions in middle markets. It's a strategy that they couldn't follow on their own.</p>\n<p>Reason #2: Tenants, Toilets, and Trash</p>\n<p>In the aftermath of the great financial crisis, Buffett famouslysaidthat if he had an easy way of managing rental properties, he would load up on them.</p>\n<p>Back then, property prices had recently crashed and there was a great opportunity to buy single-family houses.</p>\n<p>Even then, he didn't.</p>\n<p>Why you might ask?</p>\n<p>He explains that the management of rental properties is a nightmare. It's a relatively low margin business that does not scale nicely.</p>\n<p>Imagine you own a rental that you rent for $1,000 per month. After you have removed all expenses, your NOI is (let's say) $700 per month, resulting in an annual cash flow of $8,400. All it takes is <a href=\"https://laohu8.com/S/AONE.U\">one</a> unforeseen disappointment and your entire year's cash flow could be gone: A tenant who refuses to pay and won't move... a leaking roof that causes water damage... pipes that bust due to cold climate...</p>\n<p>Unless you enjoy large-scale, lowering your property management cost, it's difficult to consistently earn good returns, and on top of that, it's a big hassle that most people would rather avoid.</p>\n<p>With REITs, you enjoy the benefits of scale and have professional managers handle everything for you in a cost-effective way.</p>\n<p>Reason #3: No Corporate Income Tax</p>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> commonly think that rental properties are more tax-efficient than REIT investments, but that's not always the case.</p>\n<p>REITs are very tax efficient when you really think about it:</p>\n<ol>\n <li>They pay no corporate income tax.</li>\n <li>They distribute 60%-70% of their cash, meaning that 30%-40% isn't taxed.</li>\n <li>A portion of the distribution is \"return of capital,\" which isn't taxed.</li>\n <li>The portion that's taxed enjoys a 20% deduction.</li>\n <li>Generally, REITs are more growth-oriented real estate investments, and therefore, more than half of the total return is tax-deferred appreciation.</li>\n</ol>\n<p>Berkshire is structured as a C-corp, and therefore, it must pay corporate tax on all its profits. For this reason, REITs are more tax efficient for Berkshire.</p>\n<p>Private rental properties enjoy higher yields, but slower growth.</p>\n<p>REITs enjoy faster growth, but lower yields.</p>\n<p>Berkshire would rather compound its capital via tax-deferred appreciation and avoid having to pay corporate taxes on the income generated by the investment.</p>\n<p>Reason #4: Volatility Brings Opportunities</p>\n<p>Unsophisticated individual investors fear volatility. They're excessively short-term minded, fixate on daily quotes, and are quick to panic.</p>\n<p>For these reasons, they often favor rental properties which give them a false sense of stability due to the lack of quotation.</p>\n<p>But professional investors like Warren Buffett welcome the volatility and see it as a gift. It gives them the opportunity to make investments at a discounted price, which will ultimately result in higher returns in the long run.</p>\n<p>In a previousinterview, Buffett explains that the real estate market moves slowly, and therefore, it's rare for large mispricing to occur. Most property owners are long-term minded and do a reasonably good job at pricing the risk and reward potential of various properties. It makes it harder for investors like him to earn abnormally strong returns.</p>\n<p>With REITs, there are more frequent opportunities. As an example, back in 2017, STORE Capital produced new record results, but it dropped from $30 to $20 because the retail market was out-of-favor. What the market failed to realize is that STOR earns revenue from mainly service-oriented retailers that are resilient to Amazon (AMZN) and its leases were 10+ years long.</p>\n<p>That was a great opportunity and Berkshire seized it. Chris Volk, former CEO of STORE Capital explains the background to this investment in the below video. Skip to the 8:55 section:</p>\n<p>Buffett was behind the idea and they build their position in STOR after it had dropped, taking advantage of the market volatility.</p>\n<p>Shortly after, STOR recovered, earning them a return that easily beat what they would have gotten from a regular rental property.</p>\n<p>When you are long-term minded like Buffett, volatility is a big plus and it explains why he likes REITs.</p>\n<p>Reason #5: Disconnect Between <a href=\"https://laohu8.com/S/00626\">Public</a> and Private Market</p>\n<p>Finally, it all comes down to the price you pay.</p>\n<p>Today, the housing market is booming with the average home appreciating by16%over the past year.</p>\n<p>On the other hand, REITs (VNQ) are barely recovering from the crash they endured in 2020, and many individual REITs are still priced at a 20, 30, or even 40% discount to pre-crisis levels.</p>\n<p>Put simply, REITs offer better value than private real estate, and that explains why he favors REITs.</p>\n<p>Last year, Berkshire doubled down on STORE Capital, which has since then nicely recovered. They own $850 million worth of equity, representing 9% of the company.</p>\n<p>I bet that Berkshire would have made many more REIT investments over the past if it could. But given its large size and the strict ownership limits on REITs, most of them are too small for Berkshire.</p>\n<p>That's one of the rare advantages that individual investors have over Buffett. You can freely invest in just any REIT, regardless of its size, and gain exposure to discounted and professionally managed real estate.</p>\n<p>Closing Note</p>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> like Buffett, I favor REIT investments because they provide better risk-and-hassle adjusted returns in most cases.</p>\n<p>During the past 20 years, the average annual returns have been upward of 15%, with some individual REITs doing even better than that:</p>\n<p>Could I do better by buying private properties? I seriously doubt it.</p>\n<p>And even if I could, would it be worth it to accept much greater risk and hassle to earn a few extra points of return? Probably not.</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>Why Warren Buffett Buys REITs Instead Of Rental Properties</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Warren Buffett Buys REITs Instead Of Rental Properties\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-05 10:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4437280-why-warren-buffett-buys-reits-instead-of-rental-properties><strong>seeking alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWarren Buffett has a history of favoring REITs over rental properties.\nIn past shareholder meetings, he explains that he dislikes private real estate investments for a number of reasons.\nMost...</p>\n\n<a href=\"https://seekingalpha.com/article/4437280-why-warren-buffett-buys-reits-instead-of-rental-properties\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://seekingalpha.com/article/4437280-why-warren-buffett-buys-reits-instead-of-rental-properties","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154888582","content_text":"Summary\n\nWarren Buffett has a history of favoring REITs over rental properties.\nIn past shareholder meetings, he explains that he dislikes private real estate investments for a number of reasons.\nMost importantly, he has no edge in real estate, does not want to deal with the management, and finds it difficult to find opportunities.\nThat's why he favors REITs, which he bought as recently as last year.\nLooking for a portfolio of ideas like this one? Members of High Yield Landlord get exclusive access to our model portfolio.Learn More »\n\nFeverpitched/iStock via Getty Images\nIn previousarticles, I have explained that despite having a background in private equity real estate investing, I chose to invest my capital into REITs because they're safer and more rewarding in most cases.\nREITs are safer because they're well diversified, professionally managed, liquid, and have better access to capital.\nThey're also more rewarding because they enjoy large economies of scale, faster growth, and investors pay much lower transaction costs:\nStudy shows that REITs outperform private real estate by ~4% per year:\n\nSource\nIn short, REITs combine the benefits of real estate (high income, inflation protection, appreciation) with the benefits of stocks (liquidity, low transaction cost, professional management, diversification) into one beautiful vehicle that provides better risk-and-hassle adjusted returns than rental properties.\nBut don't take it just from me.\nWarren Buffett could build a portfolio of rental properties, and yet, he chooses to invest in REITs instead. By reviewing past annual reports of Berkshire Hathaway (BRK.A) (BRK.B), we find that he has previously invested in Tanger Outlets (SKT), General Growth Properties ((now Brookfield (BPY)), Vornado (VNO.PK), Seritage Growth Properties (SRG), and STORE Capital (STOR) among others. As recently as last year, he doubled down on STORE Capital when it dropped following the covid market crash.\nWhy doesn't he buy rentals instead?\nThat's what we will explore in today's article. Warren Buffett has often discussed this topic in past interviews, and in what follows, we will discuss the five reasons why he favors REITs over rental properties:\nReason #1: Stick to Your Circle of Competence\nWarren Buffett popularized the motto: \"Know your circle of competence, and stick within it.\"\nHe explains that the size of that circle is much less important than knowing its boundaries.\nPut differently, you cannot be a jack of all trades and need to specialize in something to truly master it.\nFor Buffett, this was mainly consumer goods and the insurance business. Not surprisingly, he rarely invests in real estate (or even REITs) because that's out of his circle of competence.\nAt a shareholdermeeting, when questioned about investing in real estate, Buffett and Charlie Munger added that it's a sector in which they have no competitive advantage. They explain that REITs and large private equity firms would have better resources, expertise, scale, and relationships than them, putting Berkshire at a disadvantage if they tried to invest in real estate.\nThis is one of the main reasons why they rather invest in the shares of REITs. It aligns them with professionals who have better resources and expertise than them.\nAs an example, STORE Capitalis the leader in sale-and-leaseback transactions in middle markets. It's a strategy that they couldn't follow on their own.\nReason #2: Tenants, Toilets, and Trash\nIn the aftermath of the great financial crisis, Buffett famouslysaidthat if he had an easy way of managing rental properties, he would load up on them.\nBack then, property prices had recently crashed and there was a great opportunity to buy single-family houses.\nEven then, he didn't.\nWhy you might ask?\nHe explains that the management of rental properties is a nightmare. It's a relatively low margin business that does not scale nicely.\nImagine you own a rental that you rent for $1,000 per month. After you have removed all expenses, your NOI is (let's say) $700 per month, resulting in an annual cash flow of $8,400. All it takes is one unforeseen disappointment and your entire year's cash flow could be gone: A tenant who refuses to pay and won't move... a leaking roof that causes water damage... pipes that bust due to cold climate...\nUnless you enjoy large-scale, lowering your property management cost, it's difficult to consistently earn good returns, and on top of that, it's a big hassle that most people would rather avoid.\nWith REITs, you enjoy the benefits of scale and have professional managers handle everything for you in a cost-effective way.\nReason #3: No Corporate Income Tax\nInvestors commonly think that rental properties are more tax-efficient than REIT investments, but that's not always the case.\nREITs are very tax efficient when you really think about it:\n\nThey pay no corporate income tax.\nThey distribute 60%-70% of their cash, meaning that 30%-40% isn't taxed.\nA portion of the distribution is \"return of capital,\" which isn't taxed.\nThe portion that's taxed enjoys a 20% deduction.\nGenerally, REITs are more growth-oriented real estate investments, and therefore, more than half of the total return is tax-deferred appreciation.\n\nBerkshire is structured as a C-corp, and therefore, it must pay corporate tax on all its profits. For this reason, REITs are more tax efficient for Berkshire.\nPrivate rental properties enjoy higher yields, but slower growth.\nREITs enjoy faster growth, but lower yields.\nBerkshire would rather compound its capital via tax-deferred appreciation and avoid having to pay corporate taxes on the income generated by the investment.\nReason #4: Volatility Brings Opportunities\nUnsophisticated individual investors fear volatility. They're excessively short-term minded, fixate on daily quotes, and are quick to panic.\nFor these reasons, they often favor rental properties which give them a false sense of stability due to the lack of quotation.\nBut professional investors like Warren Buffett welcome the volatility and see it as a gift. It gives them the opportunity to make investments at a discounted price, which will ultimately result in higher returns in the long run.\nIn a previousinterview, Buffett explains that the real estate market moves slowly, and therefore, it's rare for large mispricing to occur. Most property owners are long-term minded and do a reasonably good job at pricing the risk and reward potential of various properties. It makes it harder for investors like him to earn abnormally strong returns.\nWith REITs, there are more frequent opportunities. As an example, back in 2017, STORE Capital produced new record results, but it dropped from $30 to $20 because the retail market was out-of-favor. What the market failed to realize is that STOR earns revenue from mainly service-oriented retailers that are resilient to Amazon (AMZN) and its leases were 10+ years long.\nThat was a great opportunity and Berkshire seized it. Chris Volk, former CEO of STORE Capital explains the background to this investment in the below video. Skip to the 8:55 section:\nBuffett was behind the idea and they build their position in STOR after it had dropped, taking advantage of the market volatility.\nShortly after, STOR recovered, earning them a return that easily beat what they would have gotten from a regular rental property.\nWhen you are long-term minded like Buffett, volatility is a big plus and it explains why he likes REITs.\nReason #5: Disconnect Between Public and Private Market\nFinally, it all comes down to the price you pay.\nToday, the housing market is booming with the average home appreciating by16%over the past year.\nOn the other hand, REITs (VNQ) are barely recovering from the crash they endured in 2020, and many individual REITs are still priced at a 20, 30, or even 40% discount to pre-crisis levels.\nPut simply, REITs offer better value than private real estate, and that explains why he favors REITs.\nLast year, Berkshire doubled down on STORE Capital, which has since then nicely recovered. They own $850 million worth of equity, representing 9% of the company.\nI bet that Berkshire would have made many more REIT investments over the past if it could. But given its large size and the strict ownership limits on REITs, most of them are too small for Berkshire.\nThat's one of the rare advantages that individual investors have over Buffett. You can freely invest in just any REIT, regardless of its size, and gain exposure to discounted and professionally managed real estate.\nClosing Note\nJust like Buffett, I favor REIT investments because they provide better risk-and-hassle adjusted returns in most cases.\nDuring the past 20 years, the average annual returns have been upward of 15%, with some individual REITs doing even better than that:\nCould I do better by buying private properties? I seriously doubt it.\nAnd even if I could, would it be worth it to accept much greater risk and hassle to earn a few extra points of return? Probably not.","news_type":1},"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":864929859,"gmtCreate":1633050167036,"gmtModify":1633050167293,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/01810\">$XIAOMI-W(01810)$</a>xiaomi","listText":"<a 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Inc.(FSR)$🚀🚀🚀","images":[{"img":"https://static.tigerbbs.com/362a197c5c2b23c717210dda606400f3","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/866786240","isVote":1,"tweetType":1,"viewCount":916,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":888011523,"gmtCreate":1631412864962,"gmtModify":1631883824671,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>apple","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>apple","text":"$Apple(AAPL)$apple","images":[{"img":"https://static.tigerbbs.com/f04d4b233c75fc9013647b77cc92df4d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/888011523","isVote":1,"tweetType":1,"viewCount":61,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":812055035,"gmtCreate":1630542864627,"gmtModify":1631887809072,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>&nbsp;Tiger","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>&nbsp;Tiger","text":"$Tiger Brokers(TIGR)$ Tiger","images":[{"img":"https://static.tigerbbs.com/e440c88a4743961fa2dc5ca8bedd2338","width":"1080","height":"3660"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/812055035","isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":605029693,"gmtCreate":1639094828315,"gmtModify":1639094838383,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/605029693","repostId":"1113743057","repostType":4,"repost":{"id":"1113743057","kind":"news","pubTimestamp":1639094301,"share":"https://www.laohu8.com/m/news/1113743057?lang=&edition=full","pubTime":"2021-12-10 07:58","market":"us","language":"en","title":"Elon Musk, Other Leaders Sell Stock at Historic Levels as Market Soars, Tax Changes Loom","url":"https://stock-news.laohu8.com/highlight/detail?id=1113743057","media":"The Wall Street Journal","summary":"Company founders and leaders are unloading their stock at historic levels, with some selling shares ","content":"<p>Company founders and leaders are unloading their stock at historic levels, with some selling shares in their businesses for the first time in years, amid soaring market valuations and ahead of possible changes in U.S. and some state tax laws.</p>\n<p>So far this year, 48 top executives have collected more than $200 million each from stock sales, nearly four times the average number of insiders from 2016 through 2020, according to a Wall Street Journal analysis of data from the research firm InsiderScore.</p>\n<p>The wave has included super sellers such as cosmetics billionaire Ronald Lauder and Google co-founders Larry Page and Sergey Brin, who have sold shares for the first time in four years or more as the economic recovery fueled strong growth in sales and profit. Other high-profile insiders—including the Walton family, heirs to the Walmart Inc. WMT 1.39% fortune, and Mark Zuckerberg, chief executive of Facebook parent Meta Platforms Inc. FB -0.22% —have accelerated sales and are on track to break recent records for the number of shares they have sold.</p>\n<p>Across the S&amp;P 500, insiders have sold a record $63.5 billion in shares through November, a 50% increase from all of 2020, driven both by stock-market gains and an increase in sales by some big holders. The technology sector has led with $41 billion in sales across the entire market, up by more than a third, with a smaller amount but an even bigger increase in financial services.</p>\n<p>“What you’re seeing is unprecedented” in recent years, said Daniel Taylor, an accounting professor at the University of Pennsylvania’s Wharton School who studies trading by executives and directors. He said 2021 marks the most sales he can recall by insiders in a decade, resembling waves of sales during the twilight of the early 2000s dot-com boom.</p>\n<p>Insiders have a long history of selling at peaks and buying in troughs, Mr. Taylor said.</p>\n<p>Investors sometimes worry that large sales by insiders mean they don’t expect significant further share-price increases, and big, unexpected sales can weigh on share prices. Companies often require top executives to hold stakes equivalent to several times their annual salary, but many high-profile executives easily exceed those thresholds even after selling.</p>\n<p>Executives aren’t required to say why they sold, and few do. The heaviest selling came as lawmakers in Washington hashed out potential tax increases as part of the Democrats’ Build Back Better legislative package, at times considering raising the long-term capital-gains tax rate. In November, insiders unloaded a collective $15.59 billion.</p>\n<p>The legislation, pending in the Senate, imposes a 5% tax on adjusted gross income above $10 million beginning in 2022, and another 3% on income over $25 million, including capital gains from stock sales. Congressional revenue estimates assume taxpayers will accelerate capital gains in 2021. Wealthy taxpayers could save up to $8 million in taxes on every $100 million of shares sold ahead of the effective date, Mr. Taylor said. Such potential tax savings have been “a powerful incentive to sell this year,” he said.</p>\n<p>Tesla Inc. CEO Elon Musk, considered the world’s richest person, with a net worth of about $270 billion, ridiculed a proposed tax on billionaires’ unrealized capital gains, saying on Twitter that eventually the government runs “out of other people’s money and then they come for you.” He has moved to sell more than $10 billion in Tesla stock over about a month—including roughly $4 billion to cover tax withholding on option exercises—in his first sale of company shares since 2010, other than sales designated as made solely to satisfy tax-withholding obligations.</p>\n<p>Microsoft Corp. CEO Satya Nadella last month sold half his total stake, for about $374 million before taxes. Analysts said the move could be related to Washington state instituting a 7% tax for long-term capital gains next year. A Microsoft spokesman said at the time that the sale was for “personal financial planning and diversification reasons.”</p>\n<p>Another spike in insider-stock sales occurred in May when company leaders sold off $13.12 billion in shares, following strong corporate earnings reports.</p>\n<p>The Journal examined data on company leaders’ stock transactions through Dec. 3, drawn from regulatory filings by InsiderScore. Sales marked as made solely to satisfy tax withholding requirements were excluded. Aggregate figures, through Nov. 30, exclude sales by major shareholders who aren’t also executives or directors.</p>\n<p>About a dozen high-profile founders and CEOs sold millions of dollars in company shares this year after selling none in all of 2020, in several cases selling for the first time in five or 10 years.</p>\n<p>Messrs. Page and Brin last sold stock in Google parent Alphabet Inc. GOOG -0.41% at about $800 a share in 2017, according to InsiderScore. When they returned to the market in May, shares had risen to $2,200. This year, they have each sold nearly 600,000 shares for about $1.5 billion before taxes. Each still owns about 6% of Alphabet, according to FactSet.</p>\n<p>The duo’s sales came as the company reported record revenues and profits more than doubled from a year earlier, and seven months after the Justice Department and state attorneys general filed a civil antitrust lawsuit against Google. The company’s share price reached an all-time high of $3,019.33 on Nov. 19, and has since pulled back to about $2,950.</p>\n<p>An Alphabet spokesman declined to comment. Messrs. Brin and Page didn’t respond to a request for comment.</p>\n<p>Mr. Lauder, the son of Estée Lauder Cos.’ founders, has shed just over two million shares this year, for more than $600 million before taxes in his first sales since 2016.</p>\n<p>Dell Technologies Inc.’s Michael Dell and the Carlyle Group’s David Rubenstein also came off the sidelines over the past year. Mr. Dell sold five million shares for nearly $253 million before taxes, his first since taking Dell public again in 2018. Mr. Rubenstein sold 11 million shares this year for $495 million before taxes, after making his first-ever sale in November 2020. His sales have followed him stepping aside as co-CEO and transitioning into a role as co-chairman.</p>\n<p>A spokesman for Mr. Lauder declined to comment. Spokespeople for Mr. Dell didn’t respond to requests for comment.</p>\n<p>Other insiders continued selling but at a faster clip this year. The Walton family quadrupled the number of shares its members sold, receiving $6.5 billion before taxes so far in 2021, from $1.5 billion in 2020. The sales came in a year when Walmart’s share price flirted with all-time highs, and the company posted higher sales in three quarters.</p>\n<p>Mr. Zuckerberg increased the number of Meta shares he sold nearly sevenfold from a year ago, collecting nearly $4.5 billion before taxes. His selling came as the company reported record sales and earnings, despite challenges presented by iPhone privacy changes and congressional hearings over harms from its platforms following the Journal’s Facebook Files series.</p>\n<p>Walmart and Meta spokespeople said the sales are generally governed by preset trading plans. They said the Walton family’s proceeds help fund nonprofit initiatives, and Mr. Zuckerberg’s fund the Chan Zuckerberg Initiative LLC, his family’s for-profit philanthropic company.</p>\n<p>Executives often sell shares under advance trading arrangements, dubbed 10b5-1 plans, that trigger sales on a fixed schedule or at price thresholds to avoid running afoul of insider-trading rules. The plans were used in almost two-thirds of stock sales last year—up from 30% in 2004—but some investors and regulators worry they can be abused. The Securities and Exchange Commission on Wednesday is scheduled to vote on a proposal that would change the rules governing the trading plans.</p>\n<p>Finance executive Charles Schwab sold the most shares since 2015 in the company he founded, Charles Schwab Corp.: 5.3 million shares for $361 million.</p>\n<p>“People are clearly being opportunistic,” said Ben Silverman, InsiderScore’s director of research. “These guys have been telling you all year that the market is overheated.”</p>\n<p>Soaring stock prices mean some executives raised the same amount of money, or more, selling fewer shares. Snap Inc. CEO Evan Spiegel set a price target to sell between $60 and $80, receiving a total of $710 million before taxes on 10 million shares—more than doubling his 2020 proceeds despite selling three million fewer shares.</p>\n<p>Amazon.com Inc. founder Jeff Bezos typically sells about $10 billion in stock annually to help fund his space venture, Blue Origin LLC. This year, he has sold 25% fewer shares while collecting roughly the same amount of money before taxes because the company’s share price has doubled over the past two years.</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>Elon Musk, Other Leaders Sell Stock at Historic Levels as Market Soars, Tax Changes Loom</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\">\nElon Musk, Other Leaders Sell Stock at Historic Levels as Market Soars, Tax Changes Loom\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-10 07:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/elon-musk-other-leaders-sell-stock-at-historic-levels-as-market-soars-tax-changes-loom-11639089782?mod=hp_lead_pos1><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company founders and leaders are unloading their stock at historic levels, with some selling shares in their businesses for the first time in years, amid soaring market valuations and ahead of ...</p>\n\n<a href=\"https://www.wsj.com/articles/elon-musk-other-leaders-sell-stock-at-historic-levels-as-market-soars-tax-changes-loom-11639089782?mod=hp_lead_pos1\">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","AMZN":"亚马逊","DELL":"戴尔","MSFT":"微软","WMT":"沃尔玛","GOOG":"谷歌"},"source_url":"https://www.wsj.com/articles/elon-musk-other-leaders-sell-stock-at-historic-levels-as-market-soars-tax-changes-loom-11639089782?mod=hp_lead_pos1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113743057","content_text":"Company founders and leaders are unloading their stock at historic levels, with some selling shares in their businesses for the first time in years, amid soaring market valuations and ahead of possible changes in U.S. and some state tax laws.\nSo far this year, 48 top executives have collected more than $200 million each from stock sales, nearly four times the average number of insiders from 2016 through 2020, according to a Wall Street Journal analysis of data from the research firm InsiderScore.\nThe wave has included super sellers such as cosmetics billionaire Ronald Lauder and Google co-founders Larry Page and Sergey Brin, who have sold shares for the first time in four years or more as the economic recovery fueled strong growth in sales and profit. Other high-profile insiders—including the Walton family, heirs to the Walmart Inc. WMT 1.39% fortune, and Mark Zuckerberg, chief executive of Facebook parent Meta Platforms Inc. FB -0.22% —have accelerated sales and are on track to break recent records for the number of shares they have sold.\nAcross the S&P 500, insiders have sold a record $63.5 billion in shares through November, a 50% increase from all of 2020, driven both by stock-market gains and an increase in sales by some big holders. The technology sector has led with $41 billion in sales across the entire market, up by more than a third, with a smaller amount but an even bigger increase in financial services.\n“What you’re seeing is unprecedented” in recent years, said Daniel Taylor, an accounting professor at the University of Pennsylvania’s Wharton School who studies trading by executives and directors. He said 2021 marks the most sales he can recall by insiders in a decade, resembling waves of sales during the twilight of the early 2000s dot-com boom.\nInsiders have a long history of selling at peaks and buying in troughs, Mr. Taylor said.\nInvestors sometimes worry that large sales by insiders mean they don’t expect significant further share-price increases, and big, unexpected sales can weigh on share prices. Companies often require top executives to hold stakes equivalent to several times their annual salary, but many high-profile executives easily exceed those thresholds even after selling.\nExecutives aren’t required to say why they sold, and few do. The heaviest selling came as lawmakers in Washington hashed out potential tax increases as part of the Democrats’ Build Back Better legislative package, at times considering raising the long-term capital-gains tax rate. In November, insiders unloaded a collective $15.59 billion.\nThe legislation, pending in the Senate, imposes a 5% tax on adjusted gross income above $10 million beginning in 2022, and another 3% on income over $25 million, including capital gains from stock sales. Congressional revenue estimates assume taxpayers will accelerate capital gains in 2021. Wealthy taxpayers could save up to $8 million in taxes on every $100 million of shares sold ahead of the effective date, Mr. Taylor said. Such potential tax savings have been “a powerful incentive to sell this year,” he said.\nTesla Inc. CEO Elon Musk, considered the world’s richest person, with a net worth of about $270 billion, ridiculed a proposed tax on billionaires’ unrealized capital gains, saying on Twitter that eventually the government runs “out of other people’s money and then they come for you.” He has moved to sell more than $10 billion in Tesla stock over about a month—including roughly $4 billion to cover tax withholding on option exercises—in his first sale of company shares since 2010, other than sales designated as made solely to satisfy tax-withholding obligations.\nMicrosoft Corp. CEO Satya Nadella last month sold half his total stake, for about $374 million before taxes. Analysts said the move could be related to Washington state instituting a 7% tax for long-term capital gains next year. A Microsoft spokesman said at the time that the sale was for “personal financial planning and diversification reasons.”\nAnother spike in insider-stock sales occurred in May when company leaders sold off $13.12 billion in shares, following strong corporate earnings reports.\nThe Journal examined data on company leaders’ stock transactions through Dec. 3, drawn from regulatory filings by InsiderScore. Sales marked as made solely to satisfy tax withholding requirements were excluded. Aggregate figures, through Nov. 30, exclude sales by major shareholders who aren’t also executives or directors.\nAbout a dozen high-profile founders and CEOs sold millions of dollars in company shares this year after selling none in all of 2020, in several cases selling for the first time in five or 10 years.\nMessrs. Page and Brin last sold stock in Google parent Alphabet Inc. GOOG -0.41% at about $800 a share in 2017, according to InsiderScore. When they returned to the market in May, shares had risen to $2,200. This year, they have each sold nearly 600,000 shares for about $1.5 billion before taxes. Each still owns about 6% of Alphabet, according to FactSet.\nThe duo’s sales came as the company reported record revenues and profits more than doubled from a year earlier, and seven months after the Justice Department and state attorneys general filed a civil antitrust lawsuit against Google. The company’s share price reached an all-time high of $3,019.33 on Nov. 19, and has since pulled back to about $2,950.\nAn Alphabet spokesman declined to comment. Messrs. Brin and Page didn’t respond to a request for comment.\nMr. Lauder, the son of Estée Lauder Cos.’ founders, has shed just over two million shares this year, for more than $600 million before taxes in his first sales since 2016.\nDell Technologies Inc.’s Michael Dell and the Carlyle Group’s David Rubenstein also came off the sidelines over the past year. Mr. Dell sold five million shares for nearly $253 million before taxes, his first since taking Dell public again in 2018. Mr. Rubenstein sold 11 million shares this year for $495 million before taxes, after making his first-ever sale in November 2020. His sales have followed him stepping aside as co-CEO and transitioning into a role as co-chairman.\nA spokesman for Mr. Lauder declined to comment. Spokespeople for Mr. Dell didn’t respond to requests for comment.\nOther insiders continued selling but at a faster clip this year. The Walton family quadrupled the number of shares its members sold, receiving $6.5 billion before taxes so far in 2021, from $1.5 billion in 2020. The sales came in a year when Walmart’s share price flirted with all-time highs, and the company posted higher sales in three quarters.\nMr. Zuckerberg increased the number of Meta shares he sold nearly sevenfold from a year ago, collecting nearly $4.5 billion before taxes. His selling came as the company reported record sales and earnings, despite challenges presented by iPhone privacy changes and congressional hearings over harms from its platforms following the Journal’s Facebook Files series.\nWalmart and Meta spokespeople said the sales are generally governed by preset trading plans. They said the Walton family’s proceeds help fund nonprofit initiatives, and Mr. Zuckerberg’s fund the Chan Zuckerberg Initiative LLC, his family’s for-profit philanthropic company.\nExecutives often sell shares under advance trading arrangements, dubbed 10b5-1 plans, that trigger sales on a fixed schedule or at price thresholds to avoid running afoul of insider-trading rules. The plans were used in almost two-thirds of stock sales last year—up from 30% in 2004—but some investors and regulators worry they can be abused. The Securities and Exchange Commission on Wednesday is scheduled to vote on a proposal that would change the rules governing the trading plans.\nFinance executive Charles Schwab sold the most shares since 2015 in the company he founded, Charles Schwab Corp.: 5.3 million shares for $361 million.\n“People are clearly being opportunistic,” said Ben Silverman, InsiderScore’s director of research. “These guys have been telling you all year that the market is overheated.”\nSoaring stock prices mean some executives raised the same amount of money, or more, selling fewer shares. Snap Inc. CEO Evan Spiegel set a price target to sell between $60 and $80, receiving a total of $710 million before taxes on 10 million shares—more than doubling his 2020 proceeds despite selling three million fewer shares.\nAmazon.com Inc. founder Jeff Bezos typically sells about $10 billion in stock annually to help fund his space venture, Blue Origin LLC. This year, he has sold 25% fewer shares while collecting roughly the same amount of money before taxes because the company’s share price has doubled over the past two years.","news_type":1},"isVote":1,"tweetType":1,"viewCount":538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":834324130,"gmtCreate":1629773623520,"gmtModify":1631887809081,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>🚀🚀🚀","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>🚀🚀🚀","text":"$Apple(AAPL)$🚀🚀🚀","images":[{"img":"https://static.tigerbbs.com/a694edef5eee5fec1b0708554fcca071","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/834324130","isVote":1,"tweetType":1,"viewCount":32,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":896169610,"gmtCreate":1628561998530,"gmtModify":1631887809118,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>🚀🚀🚀","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>🚀🚀🚀","text":"$Tiger Brokers(TIGR)$🚀🚀🚀","images":[{"img":"https://static.tigerbbs.com/867333fa512394ae63cd15ed7056e6ba","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/896169610","isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":893365461,"gmtCreate":1628239152253,"gmtModify":1631887809127,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"🚀🚀🚀","listText":"🚀🚀🚀","text":"🚀🚀🚀","images":[{"img":"https://static.tigerbbs.com/f4e7f73b9edaae42f15234592794e8a2","width":"1080","height":"3660"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/893365461","isVote":1,"tweetType":1,"viewCount":99,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":171573003,"gmtCreate":1626753184802,"gmtModify":1631887809163,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"Fisker","listText":"Fisker","text":"Fisker","images":[{"img":"https://static.tigerbbs.com/4c0af5ae9cad9eda367a9741d4eecbf9","width":"1080","height":"3588"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/171573003","isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":173239993,"gmtCreate":1626661142712,"gmtModify":1631891852579,"author":{"id":"4087123982332770","authorId":"4087123982332770","name":"kjy","avatar":"https://static.tigerbbs.com/c04755acf8b485aecc68155497a9b721","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087123982332770","idStr":"4087123982332770"},"themes":[],"htmlText":"Tiger","listText":"Tiger","text":"Tiger","images":[{"img":"https://static.tigerbbs.com/d7b60c8fd47dff0b3c7f2542e9eff513","width":"1080","height":"3710"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/173239993","isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}