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Damien888

Damien888

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2023-06-09

9th Anniversary!

@Tiger_comments:[9th Anniv. Quiz] If I hold Nvidia and Microsoft, how to hedge possible pullback?

2023-06-07

Leaving a valid post 👍👍👍

2023-06-06

Valid post??? What is this valid post about 😅

2023-06-06

Great ariticle, would you like to share it?

@TigerEvents:Light up your investing with Tiger, play and win prizes worth up to USD 999

2023-06-01

Can someone explain why with better earnings, higher forecast lead to the stock dipping?

CrowdStrike Crashed Over 10% in Premarket Trading After Its Less-Than-Perfect Earnings Outlook

2023-05-22

Is there going to be a negative impact?

Trending: China Bans Micron Chips in Key Infrastructure Over Security Risk

2023-03-03

$Salesforce.com(CRM)$ gogo

2023-03-02

$Nasdaq100 Bear 3X ETF(SQQQ)$ gogogo

2021-06-25

What a run ?

2021-06-25

$Quantumscape Corp.(QS)$ up up n away

2021-06-25

Gogo

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2021-06-25

??

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2021-03-16

???

2021-03-16

??

Gold edges higher after snapping 3-week skid

2021-03-16

A spread out investment. Need a like and comment plzs help tyvm!

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2021-03-11

Any turning back?

EV Stocks are blazing hot, once again.

2021-03-11

The rich can only get richer!

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2021-02-25

EV is the future!

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2021-02-22

Portfolio diversification!

Goldman Sachs is joining the robo-investing party — should you?

2021-02-22

EV for thr future, but need to find right guy point!

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Go to Tiger App to see more news

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Anniversary!","listText":"9th Anniversary!","text":"9th Anniversary!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9979929443","repostId":"185226726260784","repostType":1,"repost":{"id":185226726260784,"gmtCreate":1686229687924,"gmtModify":1686563144149,"author":{"id":"3501196737273098","authorId":"3501196737273098","name":"Tiger_comments","avatar":"https://community-static.tradeup.com/news/227887b200e9925968650d5db4a8bfb3","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3501196737273098","authorIdStr":"3501196737273098"},"themes":[],"title":"[9th Anniv. Quiz] If I hold Nvidia and Microsoft, how to hedge possible pullback?","htmlText":"Has the long-awaited market correction finally begun? Yesterday, technology stocks generally experienced a decline, with prominent AI companies such as <a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$</a> and <a href=\"https://ttm.financial/S/MSFT\">$Microsoft(MSFT)$</a> dropping by 3%. <a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$</a> closed at $374.75, <a href=\"https://ttm.financial/S/MSFT\">$Microsoft(MSFT)$</a> closed at $323.38.If I hold tech stocks, how can I hedge against this? This article will introduce three options strategies to hedge against the potential market correction. 1. Buy putYou can purchase put options on Nvidia and Microsoft to provide downside protection. In the event of a pullback, the value of the put options would increase, offsetting some of","listText":"Has the long-awaited market correction finally begun? 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In the event of a pullback, the value of the put options would increase, offsetting some of","images":[{"img":"https://community-static.tradeup.com/news/684a51a49183edfe293d8865d2a6701a","width":"1000","height":"809"},{"img":"https://community-static.tradeup.com/news/396c4be3645ace563faefcfc470f17da","width":"1801","height":"916"},{"img":"https://community-static.tradeup.com/news/f5b0ac3b4cf7edd37690ddecb3b5b443","width":"1080","height":"1403"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/185226726260784","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2049,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184774786551960,"gmtCreate":1686135417011,"gmtModify":1686135421736,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"Leaving a valid post 👍👍👍","listText":"Leaving a valid post 👍👍👍","text":"Leaving a valid post 👍👍👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/184774786551960","isVote":1,"tweetType":1,"viewCount":1770,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184478284853328,"gmtCreate":1686063209152,"gmtModify":1686063213537,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"Valid post??? What is this valid post about 😅","listText":"Valid post??? What is this valid post about 😅","text":"Valid post??? What is this valid post about 😅","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/184478284853328","isVote":1,"tweetType":1,"viewCount":1966,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184478608777256,"gmtCreate":1686063103521,"gmtModify":1686063107731,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/184478608777256","repostId":"9970552986","repostType":1,"repost":{"id":9970552986,"gmtCreate":1684749089245,"gmtModify":1686052573124,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859","authorIdStr":"3527667667103859"},"themes":[],"title":"Light up your investing with Tiger, play and win prizes worth up to USD 999","htmlText":"Join our exclusive \"Light up Your Investing\" campaign with Tiger!Participate in our game and win fantastic prizes worth up to USD 999*!Unveil the allure of various regions as you progress through exciting game levels.But wait, there's more! Along your journey, uncover hidden rewards and unlock exclusive bonuses that will supercharge your investing game!Not only will you gain valuable knowledge and insights, but you'll also compete with fellow investors for the top spot on our leaderboard!Invite your friends and embark on this epic investing adventure together! Let's light up the world of investing with Tiger!Don't miss out on this limited-time opportunity!Campaign period: 6th June to 27th June. *T&amp;Cs apply.👉 <a href=\"https://tigr.link/lightupsg\" target=\"_blank\">Click here to start play</a>","listText":"Join our exclusive \"Light up Your Investing\" campaign with Tiger!Participate in our game and win fantastic prizes worth up to USD 999*!Unveil the allure of various regions as you progress through exciting game levels.But wait, there's more! Along your journey, uncover hidden rewards and unlock exclusive bonuses that will supercharge your investing game!Not only will you gain valuable knowledge and insights, but you'll also compete with fellow investors for the top spot on our leaderboard!Invite your friends and embark on this epic investing adventure together! Let's light up the world of investing with Tiger!Don't miss out on this limited-time opportunity!Campaign period: 6th June to 27th June. *T&amp;Cs apply.👉 <a href=\"https://tigr.link/lightupsg\" target=\"_blank\">Click here to start play</a>","text":"Join our exclusive \"Light up Your Investing\" campaign with Tiger!Participate in our game and win fantastic prizes worth up to USD 999*!Unveil the allure of various regions as you progress through exciting game levels.But wait, there's more! Along your journey, uncover hidden rewards and unlock exclusive bonuses that will supercharge your investing game!Not only will you gain valuable knowledge and insights, but you'll also compete with fellow investors for the top spot on our leaderboard!Invite your friends and embark on this epic investing adventure together! Let's light up the world of investing with Tiger!Don't miss out on this limited-time opportunity!Campaign period: 6th June to 27th June. *T&Cs apply.👉 Click here to start play","images":[{"img":"https://community-static.tradeup.com/news/0b6e3d13593eac0f4cc3fdb8b6bf8056","width":"1200","height":"675"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970552986","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1887,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182675307110552,"gmtCreate":1685607770555,"gmtModify":1685607774260,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"Can someone explain why with better earnings, higher forecast lead to the stock dipping?","listText":"Can someone explain why with better earnings, higher forecast lead to the stock dipping?","text":"Can someone explain why with better earnings, higher forecast lead to the stock dipping?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/182675307110552","repostId":"1116886862","repostType":2,"repost":{"id":"1116886862","kind":"news","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":1685606862,"share":"https://ttm.financial/m/news/1116886862?lang=en_US&edition=fundamental","pubTime":"2023-06-01 16:07","market":"us","language":"en","title":"CrowdStrike Crashed Over 10% in Premarket Trading After Its Less-Than-Perfect Earnings Outlook","url":"https://stock-news.laohu8.com/highlight/detail?id=1116886862","media":"Tiger Newspress","summary":"CrowdStrike Holdings, Inc. crashed over 10% in premarket trading after its less-than-perfect earning","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/CRWD\">CrowdStrike Holdings, Inc.</a> crashed over 10% in premarket trading after its less-than-perfect earnings outlook.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48b53456e3c17246552c352a5ce1500f\" tg-width=\"925\" tg-height=\"611\"/></p><p>It reported fiscal first-quarter net income of $491,000, or less than a penny a share, compared with a loss of $31.5 million, or 14 cents a share, in the year-ago period.</p><p>It forecast adjusted fiscal second-quarter earnings of 54 cents to 57 cents a share on revenue of $717.2 million to $727.4 million, for the year, the company forecast an adjusted-earnings range of $2.32 to $2.43 a share on revenue of $3 billion to $3.04 billion.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CrowdStrike Crashed Over 10% in Premarket Trading After Its Less-Than-Perfect Earnings Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrowdStrike Crashed Over 10% in Premarket Trading After Its Less-Than-Perfect Earnings Outlook\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\">2023-06-01 16:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/CRWD\">CrowdStrike Holdings, Inc.</a> crashed over 10% in premarket trading after its less-than-perfect earnings outlook.</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/48b53456e3c17246552c352a5ce1500f\" tg-width=\"925\" tg-height=\"611\"/></p><p>It reported fiscal first-quarter net income of $491,000, or less than a penny a share, compared with a loss of $31.5 million, or 14 cents a share, in the year-ago period.</p><p>It forecast adjusted fiscal second-quarter earnings of 54 cents to 57 cents a share on revenue of $717.2 million to $727.4 million, for the year, the company forecast an adjusted-earnings range of $2.32 to $2.43 a share on revenue of $3 billion to $3.04 billion.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRWD":"CrowdStrike Holdings, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116886862","content_text":"CrowdStrike Holdings, Inc. crashed over 10% in premarket trading after its less-than-perfect earnings outlook.It reported fiscal first-quarter net income of $491,000, or less than a penny a share, compared with a loss of $31.5 million, or 14 cents a share, in the year-ago period.It forecast adjusted fiscal second-quarter earnings of 54 cents to 57 cents a share on revenue of $717.2 million to $727.4 million, for the year, the company forecast an adjusted-earnings range of $2.32 to $2.43 a share on revenue of $3 billion to $3.04 billion.","news_type":1,"symbols_score_info":{"CRWD":0.9}},"isVote":1,"tweetType":1,"viewCount":1749,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9970564474,"gmtCreate":1684732243499,"gmtModify":1684732247288,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"Is there going to be a negative impact?","listText":"Is there going to be a negative impact?","text":"Is there going to be a negative impact?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970564474","repostId":"2337151336","repostType":2,"repost":{"id":"2337151336","kind":"highlight","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":1684727700,"share":"https://ttm.financial/m/news/2337151336?lang=en_US&edition=fundamental","pubTime":"2023-05-22 11:55","market":"hk","language":"en","title":"Trending: China Bans Micron Chips in Key Infrastructure Over Security Risk","url":"https://stock-news.laohu8.com/highlight/detail?id=2337151336","media":"Dow Jones","summary":"0355 GMT -  Micron Technology is among the most mentioned companies in the news over the past 12 hou","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  0355 GMT -  Micron Technology is among the most mentioned companies in the news over the past 12 hours, according to Factiva data, after Beijing banned big Chinese companies from buying from the U.S.'s largest memory-chip maker. The Cyberspace Administration of China on Sunday said its review of Micron products found \"significant security risks\" that would affect national security and warned operators of critical Chinese information infrastructure against purchasing the company's goods. The ban came less than two months after Beijing opened an investigation into imports from Micron--a move seemingly aimed at hitting back at Washington for restricting exports of advanced chip-making technology to China. Micron said it is evaluating China's decision and assessing its next steps. Dow Jones &amp; Co. owns Factiva. (farah.elias@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 21, 2023 23:55 ET (03:55 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","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>Trending: China Bans Micron Chips in Key Infrastructure Over Security Risk</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\">\nTrending: China Bans Micron Chips in Key Infrastructure Over Security Risk\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\">2023-05-22 11:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  0355 GMT -  Micron Technology is among the most mentioned companies in the news over the past 12 hours, according to Factiva data, after Beijing banned big Chinese companies from buying from the U.S.'s largest memory-chip maker. The Cyberspace Administration of China on Sunday said its review of Micron products found \"significant security risks\" that would affect national security and warned operators of critical Chinese information infrastructure against purchasing the company's goods. The ban came less than two months after Beijing opened an investigation into imports from Micron--a move seemingly aimed at hitting back at Washington for restricting exports of advanced chip-making technology to China. Micron said it is evaluating China's decision and assessing its next steps. Dow Jones &amp; Co. owns Factiva. (farah.elias@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 21, 2023 23:55 ET (03:55 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4124":"机动车零配件与设备","BK4141":"半导体产品","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4553":"喜马拉雅资本持仓","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","BK4575":"芯片概念","BK4566":"资本集团","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","BK4588":"碎股","BK4579":"人工智能","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","CAAS":"中汽系统","MU":"美光科技","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4512":"苹果概念","BK4527":"明星科技股"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2337151336","content_text":"0355 GMT -  Micron Technology is among the most mentioned companies in the news over the past 12 hours, according to Factiva data, after Beijing banned big Chinese companies from buying from the U.S.'s largest memory-chip maker. The Cyberspace Administration of China on Sunday said its review of Micron products found \"significant security risks\" that would affect national security and warned operators of critical Chinese information infrastructure against purchasing the company's goods. The ban came less than two months after Beijing opened an investigation into imports from Micron--a move seemingly aimed at hitting back at Washington for restricting exports of advanced chip-making technology to China. Micron said it is evaluating China's decision and assessing its next steps. Dow Jones & Co. owns Factiva. 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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":1615821540,"share":"https://ttm.financial/m/news/2119194546?lang=en_US&edition=fundamental","pubTime":"2021-03-15 23:19","market":"hk","language":"en","title":"Gold edges higher after snapping 3-week skid","url":"https://stock-news.laohu8.com/highlight/detail?id=2119194546","media":"Dow Jones","summary":"Gold futures edged higher Monday, looking to build on last week's rise as investors continue to moni","content":"<p>Gold futures edged higher Monday, looking to build on last week's rise as investors continue to monitor bond yields and the U.S. dollar.</p>\n<p>\"Hammered by [U.S. dollar] strength and the backup in rates, gold's multi-month downtrend is forming a base that recently embraced the support at $1,680, paving the way for the ongoing uptrend,\" said Stephen Innes, chief global markets strategist at Axi, in a note.</p>\n<p>In Monday dealings, gold for April delivery was up $5.40, or 0.3%, at $1,725.20 an ounce on Comex. May silver futures were up 31.4 cents, or 1.2%, at $26.225 an ounce.</p>\n<p>Prices saw volatile trading after the release of U.S. economic data on Monday, with prices eventually paring much of their earlier gains. The March Empire State Manufacturing Index rose to a reading of 17.4 from 12.1 in February, the New York Fed said Monday.</p>\n<p>Gold ended lower Friday but posted a weekly rise of 1.3%, while silver was up 2.5% for the week. Both metals snapped a three-week skid of falling prices that came as Treasury yields marched higher due, in part, to rising inflation fears stoked by expectations for an accelerated economic recovery. Higher bond yields raise the opportunity cost of holding nonyielding assets like gold.</p>\n<p>The yield on the 10-year Treasury note was off 2.1 basis points at 1.614%. Yields and bond prices move in opposite directions.</p>\n<p>\"Gold is attempting to stabilize after the recent pullback,\" but if Treasurys bonds continue to fall sharply, prompting yields, which trade inversely to bonds, to spike higher, \"then it will be effectively impossible for gold to hold recent lows,\" analysts at Sevens Report Research wrote in Monday's newsletter.</p>\n<p>Gold investors await the outcome of the Federal Reserve's two-day Open Market Committee meeting which ends Wednesday with a statement on monetary policy.</p>\n<p>While no change in policy is expected at this week's meeting, \"traders will be closely scrutinizing wording on the Fed's economic growth and inflation prospects,\" said Jim Wyckoff, senior analyst at Kitco.com, in a note.</p>\n<p>Among other metals traded on Comex, May copper traded at $4.141 a pound, up less than 0.05%. April platinum rose 1.1% to $1,213.60 an ounce and June palladium added 1.3% to $2,388 an ounce.</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>Gold edges higher after snapping 3-week skid</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\">\nGold edges higher after snapping 3-week skid\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\">2021-03-15 23:19</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Gold futures edged higher Monday, looking to build on last week's rise as investors continue to monitor bond yields and the U.S. dollar.</p>\n<p>\"Hammered by [U.S. dollar] strength and the backup in rates, gold's multi-month downtrend is forming a base that recently embraced the support at $1,680, paving the way for the ongoing uptrend,\" said Stephen Innes, chief global markets strategist at Axi, in a note.</p>\n<p>In Monday dealings, gold for April delivery was up $5.40, or 0.3%, at $1,725.20 an ounce on Comex. May silver futures were up 31.4 cents, or 1.2%, at $26.225 an ounce.</p>\n<p>Prices saw volatile trading after the release of U.S. economic data on Monday, with prices eventually paring much of their earlier gains. The March Empire State Manufacturing Index rose to a reading of 17.4 from 12.1 in February, the New York Fed said Monday.</p>\n<p>Gold ended lower Friday but posted a weekly rise of 1.3%, while silver was up 2.5% for the week. Both metals snapped a three-week skid of falling prices that came as Treasury yields marched higher due, in part, to rising inflation fears stoked by expectations for an accelerated economic recovery. Higher bond yields raise the opportunity cost of holding nonyielding assets like gold.</p>\n<p>The yield on the 10-year Treasury note was off 2.1 basis points at 1.614%. Yields and bond prices move in opposite directions.</p>\n<p>\"Gold is attempting to stabilize after the recent pullback,\" but if Treasurys bonds continue to fall sharply, prompting yields, which trade inversely to bonds, to spike higher, \"then it will be effectively impossible for gold to hold recent lows,\" analysts at Sevens Report Research wrote in Monday's newsletter.</p>\n<p>Gold investors await the outcome of the Federal Reserve's two-day Open Market Committee meeting which ends Wednesday with a statement on monetary policy.</p>\n<p>While no change in policy is expected at this week's meeting, \"traders will be closely scrutinizing wording on the Fed's economic growth and inflation prospects,\" said Jim Wyckoff, senior analyst at Kitco.com, in a note.</p>\n<p>Among other metals traded on Comex, May copper traded at $4.141 a pound, up less than 0.05%. April platinum rose 1.1% to $1,213.60 an ounce and June palladium added 1.3% to $2,388 an ounce.</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":"2119194546","content_text":"Gold futures edged higher Monday, looking to build on last week's rise as investors continue to monitor bond yields and the U.S. dollar.\n\"Hammered by [U.S. dollar] strength and the backup in rates, gold's multi-month downtrend is forming a base that recently embraced the support at $1,680, paving the way for the ongoing uptrend,\" said Stephen Innes, chief global markets strategist at Axi, in a note.\nIn Monday dealings, gold for April delivery was up $5.40, or 0.3%, at $1,725.20 an ounce on Comex. May silver futures were up 31.4 cents, or 1.2%, at $26.225 an ounce.\nPrices saw volatile trading after the release of U.S. economic data on Monday, with prices eventually paring much of their earlier gains. The March Empire State Manufacturing Index rose to a reading of 17.4 from 12.1 in February, the New York Fed said Monday.\nGold ended lower Friday but posted a weekly rise of 1.3%, while silver was up 2.5% for the week. Both metals snapped a three-week skid of falling prices that came as Treasury yields marched higher due, in part, to rising inflation fears stoked by expectations for an accelerated economic recovery. Higher bond yields raise the opportunity cost of holding nonyielding assets like gold.\nThe yield on the 10-year Treasury note was off 2.1 basis points at 1.614%. Yields and bond prices move in opposite directions.\n\"Gold is attempting to stabilize after the recent pullback,\" but if Treasurys bonds continue to fall sharply, prompting yields, which trade inversely to bonds, to spike higher, \"then it will be effectively impossible for gold to hold recent lows,\" analysts at Sevens Report Research wrote in Monday's newsletter.\nGold investors await the outcome of the Federal Reserve's two-day Open Market Committee meeting which ends Wednesday with a statement on monetary policy.\nWhile no change in policy is expected at this week's meeting, \"traders will be closely scrutinizing wording on the Fed's economic growth and inflation prospects,\" said Jim Wyckoff, senior analyst at Kitco.com, in a note.\nAmong other metals traded on Comex, May copper traded at $4.141 a pound, up less than 0.05%. April platinum rose 1.1% to $1,213.60 an ounce and June palladium added 1.3% to $2,388 an ounce.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322714652,"gmtCreate":1615827059976,"gmtModify":1704787242815,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"A spread out investment. Need a like and comment plzs help tyvm!&nbsp;","listText":"A spread out investment. Need a like and comment plzs help tyvm!&nbsp;","text":"A spread out investment. Need a like and comment plzs help tyvm!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322714652","repostId":"1170973847","repostType":4,"isVote":1,"tweetType":1,"viewCount":744,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328936883,"gmtCreate":1615478243142,"gmtModify":1704783453783,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"Any turning back?&nbsp;","listText":"Any turning back?&nbsp;","text":"Any turning back?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328936883","repostId":"1195587343","repostType":4,"repost":{"id":"1195587343","kind":"news","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":1615474639,"share":"https://ttm.financial/m/news/1195587343?lang=en_US&edition=fundamental","pubTime":"2021-03-11 22:57","market":"us","language":"en","title":"EV  Stocks are blazing hot, once again.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195587343","media":"Tiger Newspress","summary":"Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto&nbsp;up&nbsp;7.8%,NIO&nbsp;up&nbsp;5.2%,Tesla&nbsp;up&nbsp;3.4%.","content":"<p>Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto&nbsp;up&nbsp;7.8%,NIO&nbsp;up&nbsp;5.2%,Tesla&nbsp;up&nbsp;3.4%.</p><p><img src=\"https://static.tigerbbs.com/50acfad49f16b775a36151e7e52d3648\" tg-width=\"412\" tg-height=\"295\"></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>EV  Stocks are blazing hot, once again.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV  Stocks are blazing hot, once again.\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\">2021-03-11 22:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto&nbsp;up&nbsp;7.8%,NIO&nbsp;up&nbsp;5.2%,Tesla&nbsp;up&nbsp;3.4%.</p><p><img src=\"https://static.tigerbbs.com/50acfad49f16b775a36151e7e52d3648\" tg-width=\"412\" tg-height=\"295\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195587343","content_text":"Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto up 7.8%,NIO up 5.2%,Tesla up 3.4%.","news_type":1,"symbols_score_info":{"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328936950,"gmtCreate":1615478211370,"gmtModify":1704783453139,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"The rich can only get richer!&nbsp;","listText":"The rich can only get richer!&nbsp;","text":"The rich can only get richer!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/328936950","repostId":"1119544264","repostType":4,"isVote":1,"tweetType":1,"viewCount":1005,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361650533,"gmtCreate":1614231069722,"gmtModify":1704889918985,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"EV is the future!&nbsp;","listText":"EV is the future!&nbsp;","text":"EV is the future!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/361650533","repostId":"1144266648","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360267515,"gmtCreate":1613937953437,"gmtModify":1704885987999,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"Portfolio diversification!","listText":"Portfolio diversification!","text":"Portfolio diversification!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/360267515","repostId":"1161529893","repostType":4,"repost":{"id":"1161529893","kind":"news","pubTimestamp":1613733842,"share":"https://ttm.financial/m/news/1161529893?lang=en_US&edition=fundamental","pubTime":"2021-02-19 19:24","market":"us","language":"en","title":"Goldman Sachs is joining the robo-investing party — should you?","url":"https://stock-news.laohu8.com/highlight/detail?id=1161529893","media":"Marketwatch","summary":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by so","content":"<blockquote>\n ‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n</blockquote>\n<p>Robo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.</p>\n<p>Now anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.</p>\n<p>“Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.</p>\n<p>Although the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.</p>\n<p>“People forget that banks are ultimately in the business of making money,” he said.</p>\n<p>Goldman Sachs declined to comment.</p>\n<p>The company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.</p>\n<p>Fees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.</p>\n<p>The median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.</p>\n<p>Robo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.</p>\n<p><b>Robo investing as a self-driving car</b></p>\n<p>Consumers have turned to robo-investing at unprecedented levels during the pandemic.</p>\n<p>The rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.</p>\n<p>So what is rob-investing? Think of it like a self-driving car.</p>\n<p>You put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.</p>\n<p>Robo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.</p>\n<p>There are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.</p>\n<p>And rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.</p>\n<p>Cynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.</p>\n<p>As she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”</p>\n<p><b>Robos appeal to inexperienced investors</b></p>\n<p>Robo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.</p>\n<p>That makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.</p>\n<p>“When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”</p>\n<p>That said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”</p>\n<p>Others disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.</p>\n<p>“Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.</p>\n<p><b>There is often no door to knock on</b></p>\n<p>Your robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.</p>\n<p>It won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.</p>\n<p>“The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.</p>\n<p>Not all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.</p>\n<p>Additionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.</p>\n<p>For instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.</p>\n<p>But with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.</p>\n<p>On top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.</p>\n<p>“If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.</p>\n<p>Don’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.</p>\n<p>But not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.</p>\n<p>The results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.</p>\n<p></p>","source":"lsy1603348471595","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>Goldman Sachs is joining the robo-investing party — 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\">\nGoldman Sachs is joining the robo-investing party — should you?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-19 19:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page><strong>Marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n\nRobo investing has become ...</p>\n\n<a href=\"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/goldman-sachs-is-joining-the-robo-investing-party-should-you-11613658128?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161529893","content_text":"‘Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\n\nRobo investing has become increasingly ubiquitous on practically every brokerage platform. Until Tuesday, Goldman Sachs GS, -0.91% restricted its robo-advisory service, Marcus, to people who had at least $10 million to invest.\nNow anyone with at least $1,000 to invest in can access the same trading algorithms that have been used by some of Goldman Sachs’ wealthiest clients for a 0.35% annual advisory fee. But investing experts say there are more costs to consider before jumping on the robo-investing train.\n“Much like in Vegas, the house generally wins,” said Vance Barse, a San Diego, California-based financial advisor who runs a company called Your Dedicated Fiduciary.\nAlthough the 35 basis-point price tag is a “loss leader” to Goldman Sachs, he said companies typically make such offers in order to attract clients to cross-sell them banking products.\n“People forget that banks are ultimately in the business of making money,” he said.\nGoldman Sachs declined to comment.\nThe company is among other major financial-services firms offering digital advisers, including Vanguard, Fidelity and Schwab SCHW, +1.03% and startups such as Betterment and Wealthfront.\nFees for robo advisers can start at around 0.25%, and increase to 1% and above for traditional brokers. A survey of nearly 1,000 financial planners by Inside Information, a trade publication, found that the bigger the portfolio, the lower the percentage clients paid in fees.\nThe median annual charge hovered at around 1% for portfolios of $1 million or less, and 0.5% for portfolios worth $5 million to $10 million.\nRobo advisers like those on offer from Goldman Sachs and Betterment differ from robo platforms like Robinhood. The former suggest portfolios focused on exchange-traded funds, while Robinhood allows users to invest in individual ETFs, stocks, options and even cryptocurrencies.\nRobo investing as a self-driving car\nConsumers have turned to robo-investing at unprecedented levels during the pandemic.\nThe rate of new accounts opened jumped between 50% and 300% during the first quarter of 2020 compared to the fourth quarter of last year, according to a May report published by research and advisory firm Aite Group.\nSo what is rob-investing? Think of it like a self-driving car.\nYou put in your destination, buckle up in the backseat and your driver (robo adviser) will get there. You, the passenger, can’t easily slam the breaks if you fear your driver is leading you in the wrong direction. Nor can you put your foot on the gas pedal if you’re in a rush and want to get to your destination faster.\nRobo-investing platforms use advanced-trading algorithm software to design investment portfolios based on factors such as an individual’s appetite for risk-taking and desired short-term and long-term returns.\nThere are over 200 platforms that provide these services charging typically no more than a 0.5% annual advisory fee, compared to the 1% annual fee human investment advisors charge.\nAnd rather than investing entirely on your own, which can become a second job and lead to emotional investment decisions, robo advisers handle buying and selling assets.\nCynthia Loh, Schwab vice president of Digital Advice and Innovation, disagrees, and argues that robo investing doesn’t mean giving technology control of your money. Schwab, she said, has a team of investment experts who oversee investment strategy and keep watch during periods of market volatility, although some services have more input from humans than others.\nAs she recently wrote on MarketWatch: “One common misconception about automated investing is that choosing a robo adviser essentially means handing control of your money over to robots. The truth is that robo solutions have a combination of automated and human components running things behind the scenes.”\nRobos appeal to inexperienced investors\nRobo investing tends to appeal to inexperienced investors or ones who don’t have the time or energy to manage their own portfolios. These investors can take comfort in the “set it and forget it approach to investing and overtime let the markets do their thing,” Barse said.\nThat makes it much easier to stomach market volatility knowing that you don’t necessarily have to make spur-of-the-moment decisions to buy or sell assets, said Tiffany Lam-Balfour, an investing and retirement specialist at NerdWallet.\n“When you’re investing, you don’t want to keep looking at the market and going ‘Oh I need to get out of this,’” she said. “You want to leave it to the professionals to get you through it because they know what your time horizon is, and they’ll adjust your portfolio automatically for you.”\nThat said, “you can’t just expect your investments will only go up. Even if you had the world’s best human financial adviser you can’t expect that.”\nOthers disagree, and say robo advisers appeal to older investors. “Planning for and paying yourself in retirement is complex. There are many options out there to help investors through it, and robo investing is one of them,” Loh said.\n“Many thoughtful, long-term investors have discovered that they want a more modern, streamlined, and inexpensive way to invest, and robo investing fits the bill. They are happy to let technology handle the mundane activities that are harder and more time-consuming for investors to do themselves,” she added.\nThere is often no door to knock on\nYour robo adviser only knows what you tell it. The simplistic questionnaire you’re required to fill out will on most robo-investing platforms will collect information on your annual income, desired age to retire and the level of risk you’re willing to take on.\nIt won’t however know if you just had a child and would like to begin saving for their education down the road or if you recently lost your job.\n“The question then becomes to whom does that person go to for advice and does that platform offer that and if so, to what level of complexity?” said Barse.\nNot all platforms give individualized investment advice and the hybrid models that do offer advice from a human tend to charge higher annual fees.\nAdditionally, a robo adviser won’t necessarily “manage your money with tax efficiency at front of mind,” said Roger Ma, a certified financial planner at Lifelaidout, a New York City-based financial advisory group.\nFor instance, one common way investors offset the taxes they pay on long-term investments is by selling assets that have accrued losses. Traditional advisers often specialize in constructing portfolios that lead to the most tax-efficient outcomes, said Ma, who is the author of “Work Your Money, Not Your Life”.\nBut with robo investing, the trades that are made for you are the same ones that are being made for a slew of other investors who may fall under a different tax-bracket than you.\nOn top of that, while robo investing may feel like a simplistic way to get into investing, especially for beginners it can “overcomplicate investing,” Ma said.\n“If you are just looking to dip your toe in and you want to feel like you’re invested in a diversified portfolio, I wouldn’t say definitely don’t do a robo adviser,” he said.\nDon’t rule out investing through a target-date fund that selects a single fund to invest in and adjusts the position over time based on their investment goals, he added.\nBut not everyone can tell the difference between robo advice and advice from a human being. In 2015, MarketWatch asked four prominent robo advisers and four of the traditional, flesh-and-blood variety to construct portfolios for a hypothetical 35-year-old investor with $40,000 to invest.\nThe results were, perhaps, surprising for critics of robo advisers. The robots’ suggestions were “not massively different” from what the human advisers proposed, said Michael Kitces, Pinnacle Advisory Group’s research director, after reviewing the results.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1088,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360267881,"gmtCreate":1613937800843,"gmtModify":1704885988160,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"themes":[],"htmlText":"EV for thr future, but need to find right guy point!","listText":"EV for thr future, but need to find right guy point!","text":"EV for thr future, but need to find right guy point!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/360267881","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":639,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"idStr":"3570109781201455","authorIdStr":"3570109781201455"},"content":"need a comment for task!","text":"need a comment for task!","html":"need a comment for task!"},{"author":{"id":"3575178537395503","authorId":"3575178537395503","name":"PG123","avatar":"https://static.tigerbbs.com/44ec19c217bfeef30ef380b542fb98a2","crmLevel":12,"crmLevelSwitch":0,"idStr":"3575178537395503","authorIdStr":"3575178537395503"},"content":"Pls like and commenT","text":"Pls like and commenT","html":"Pls like and commenT"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":360267881,"gmtCreate":1613937800843,"gmtModify":1704885988160,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"EV for thr future, but need to find right guy point!","listText":"EV for thr future, but need to find right guy point!","text":"EV for thr future, but need to find right guy point!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/360267881","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":639,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"content":"need a comment for task!","text":"need a comment for task!","html":"need a comment for task!"},{"author":{"id":"3575178537395503","authorId":"3575178537395503","name":"PG123","avatar":"https://static.tigerbbs.com/44ec19c217bfeef30ef380b542fb98a2","crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3575178537395503","idStr":"3575178537395503"},"content":"Pls like and commenT","text":"Pls like and commenT","html":"Pls like and commenT"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361650533,"gmtCreate":1614231069722,"gmtModify":1704889918985,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"EV is the future!&nbsp;","listText":"EV is the future!&nbsp;","text":"EV is the future!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/361650533","repostId":"1144266648","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317414747,"gmtCreate":1612468924389,"gmtModify":1704871668818,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Profits up but stock price not pushing up. Ironic ?","listText":"Profits up but stock price not pushing up. Ironic ?","text":"Profits up but stock price not pushing up. Ironic ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/317414747","repostId":"2108719145","repostType":4,"isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"content":"Where's the Fundamentals?","text":"Where's the Fundamentals?","html":"Where's the Fundamentals?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328936950,"gmtCreate":1615478211370,"gmtModify":1704783453139,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"The rich can only get richer!&nbsp;","listText":"The rich can only get richer!&nbsp;","text":"The rich can only get richer!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/328936950","repostId":"1119544264","repostType":4,"isVote":1,"tweetType":1,"viewCount":1005,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387514121,"gmtCreate":1613754338363,"gmtModify":1704884733035,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Bought FCX counter for consideration on copper rally! Need a help to like this!&nbsp;","listText":"Bought FCX counter for consideration on copper rally! Need a help to like this!&nbsp;","text":"Bought FCX counter for consideration on copper rally! Need a help to like this!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/387514121","repostId":"2112881103","repostType":4,"repost":{"id":"2112881103","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1613723004,"share":"https://ttm.financial/m/news/2112881103?lang=en_US&edition=fundamental","pubTime":"2021-02-19 16:23","market":"fut","language":"en","title":"Copper rallies to $8,700 level on supply worries, weak dollar","url":"https://stock-news.laohu8.com/highlight/detail?id=2112881103","media":"Reuters","summary":"Feb 19 (Reuters) - Industrial metals rose across the board in London and Shanghai on Friday, with be","content":"<p>Feb 19 (Reuters) - Industrial metals rose across the board in London and Shanghai on Friday, with benchmark LME copper scaling its highest level since February 2012 on tight supply concerns, a weak U.S. dollar and speculation about demand prospects.</p>\n<p>Nickel soared to its strongest level since 2014 as a tropical storm headed for southern Philippines, China's biggest supplier, fuelling worries about declining port inventory of the stainless steel ingredient in the world's top metals consumer.</p>\n<p>Three-month copper on the London Metal Exchange rose 1.9% to $8,715 a tonne by 0816 GMT, after hitting $8,737 earlier in the day, and was set for its third successive weekly advance.</p>\n<p>Copper on the Shanghai Futures Exchange ended daytime trading 2.5% higher at 64,170 yuan ($9,929.90) a tonne, after touching 64,330 yuan, the highest level since 2011.</p>\n<p>\"The global copper inventory is generally at a low level,\" analysts at Huatai Futures in China said in a note, adding that China's demand was expected to remain robust after the week-long Lunar New Year holiday that ended on Wednesday.</p>\n<p>\"There may be a temporary shortage of supply\" in China, the analysts said.</p>\n<p>A weaker dollar also helped boost the appeal of greenback-priced metals.</p>\n<p>Copper stocks in warehouses monitored by the Shanghai Futures Exchange jumped a hefty 43.5% to 112,788 tonnes as of Friday from pre-holiday levels, but remained below last year's peak of around 380,000 tonnes in March.</p>\n<p>Copper inventories in LME-registered warehouses are near their lowest since 2005 at 76,025 tonnes while the premium for cash copper over three-month metal rose, suggesting tight nearby supply.</p>\n<p>London nickel climbed as much as 2% to $19,535 a tonne, the highest since September 2014. Shanghai's most-active February nickel jumped 4% to 144,050 yuan a tonne.</p>\n<p>In Shanghai, tin surged 6%, aluminium rose 0.8%, zinc jumped 2.2%, and lead added 0.6%.</p>\n<p>In London, aluminium and zinc advanced 0.8%, lead gained 0.5%, and tin climbed 1.1%.</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>Copper rallies to $8,700 level on supply worries, weak dollar</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\">\nCopper rallies to $8,700 level on supply worries, weak dollar\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-02-19 16:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Feb 19 (Reuters) - Industrial metals rose across the board in London and Shanghai on Friday, with benchmark LME copper scaling its highest level since February 2012 on tight supply concerns, a weak U.S. dollar and speculation about demand prospects.</p>\n<p>Nickel soared to its strongest level since 2014 as a tropical storm headed for southern Philippines, China's biggest supplier, fuelling worries about declining port inventory of the stainless steel ingredient in the world's top metals consumer.</p>\n<p>Three-month copper on the London Metal Exchange rose 1.9% to $8,715 a tonne by 0816 GMT, after hitting $8,737 earlier in the day, and was set for its third successive weekly advance.</p>\n<p>Copper on the Shanghai Futures Exchange ended daytime trading 2.5% higher at 64,170 yuan ($9,929.90) a tonne, after touching 64,330 yuan, the highest level since 2011.</p>\n<p>\"The global copper inventory is generally at a low level,\" analysts at Huatai Futures in China said in a note, adding that China's demand was expected to remain robust after the week-long Lunar New Year holiday that ended on Wednesday.</p>\n<p>\"There may be a temporary shortage of supply\" in China, the analysts said.</p>\n<p>A weaker dollar also helped boost the appeal of greenback-priced metals.</p>\n<p>Copper stocks in warehouses monitored by the Shanghai Futures Exchange jumped a hefty 43.5% to 112,788 tonnes as of Friday from pre-holiday levels, but remained below last year's peak of around 380,000 tonnes in March.</p>\n<p>Copper inventories in LME-registered warehouses are near their lowest since 2005 at 76,025 tonnes while the premium for cash copper over three-month metal rose, suggesting tight nearby supply.</p>\n<p>London nickel climbed as much as 2% to $19,535 a tonne, the highest since September 2014. Shanghai's most-active February nickel jumped 4% to 144,050 yuan a tonne.</p>\n<p>In Shanghai, tin surged 6%, aluminium rose 0.8%, zinc jumped 2.2%, and lead added 0.6%.</p>\n<p>In London, aluminium and zinc advanced 0.8%, lead gained 0.5%, and tin climbed 1.1%.</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":"2112881103","content_text":"Feb 19 (Reuters) - Industrial metals rose across the board in London and Shanghai on Friday, with benchmark LME copper scaling its highest level since February 2012 on tight supply concerns, a weak U.S. dollar and speculation about demand prospects.\nNickel soared to its strongest level since 2014 as a tropical storm headed for southern Philippines, China's biggest supplier, fuelling worries about declining port inventory of the stainless steel ingredient in the world's top metals consumer.\nThree-month copper on the London Metal Exchange rose 1.9% to $8,715 a tonne by 0816 GMT, after hitting $8,737 earlier in the day, and was set for its third successive weekly advance.\nCopper on the Shanghai Futures Exchange ended daytime trading 2.5% higher at 64,170 yuan ($9,929.90) a tonne, after touching 64,330 yuan, the highest level since 2011.\n\"The global copper inventory is generally at a low level,\" analysts at Huatai Futures in China said in a note, adding that China's demand was expected to remain robust after the week-long Lunar New Year holiday that ended on Wednesday.\n\"There may be a temporary shortage of supply\" in China, the analysts said.\nA weaker dollar also helped boost the appeal of greenback-priced metals.\nCopper stocks in warehouses monitored by the Shanghai Futures Exchange jumped a hefty 43.5% to 112,788 tonnes as of Friday from pre-holiday levels, but remained below last year's peak of around 380,000 tonnes in March.\nCopper inventories in LME-registered warehouses are near their lowest since 2005 at 76,025 tonnes while the premium for cash copper over three-month metal rose, suggesting tight nearby supply.\nLondon nickel climbed as much as 2% to $19,535 a tonne, the highest since September 2014. Shanghai's most-active February nickel jumped 4% to 144,050 yuan a tonne.\nIn Shanghai, tin surged 6%, aluminium rose 0.8%, zinc jumped 2.2%, and lead added 0.6%.\nIn London, aluminium and zinc advanced 0.8%, lead gained 0.5%, and tin climbed 1.1%.","news_type":1,"symbols_score_info":{"HGmain":0.9}},"isVote":1,"tweetType":1,"viewCount":786,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389726522,"gmtCreate":1612799826766,"gmtModify":1704874467399,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Trade with caution, never easy with retailers vs funds","listText":"Trade with caution, never easy with retailers vs funds","text":"Trade with caution, never easy with retailers vs funds","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/389726522","repostId":"1195153829","repostType":4,"repost":{"id":"1195153829","kind":"news","pubTimestamp":1612781502,"share":"https://ttm.financial/m/news/1195153829?lang=en_US&edition=fundamental","pubTime":"2021-02-08 18:51","market":"us","language":"en","title":"Here’s What the GameStop Affair Has Taught Us","url":"https://stock-news.laohu8.com/highlight/detail?id=1195153829","media":"Barrons","summary":"This commentary was issued recently by money managers, research firms, and market newsletter writers","content":"<p><i>This commentary was issued recently by money managers, research firms, and market newsletter writers and has been edited by Barron’s.</i></p>\n<p>What GameStop Taught Us</p>\n<p><i>The Weekly Speculator</i></p>\n<p><i>Marketfield Asset Management</i></p>\n<p>marketfield.com</p>\n<p>Feb. 4: After all is said and done, one of the most lasting effects of theGameStop(ticker: GME) episode will be to educate many market participants about the key role and ultimate power held by the clearing institution, the Depository Trust Company. One of the stranger aspects of the affair has been the attempt to paint it as some form of moral crusade, or an opportunity for the “little guy” to get even with Wall Street. The truth is that some large investors lost a great deal of money, while others were well rewarded, just as some small investors will have reaped life-changing sums while others will have lost funds that may prove to be equally impactful. In this sense, the market is a meritocracy, which isn’t quite the same as saying that it is always fair in delivering outcomes.</p>\n<p>What is also clear is that late January saw a very significant degrossing of levered hedge-fund investors, without causing a deep correction in the equity market. The S&amp;P 500 essentially respected support at the 50-day moving average, and didn’t need to move down to 3600, which we had set as a “worst case” target. The Nasdaq 100, Russell 2000, and MSCI Emerging Markets Index didn’t need to touch their corresponding trend support, and all three indexes managed to generate a positive return in January, unlike the S&amp;P 500, which registered a small loss. The subsequent bounce has been rapid and broad, as would be expected from a catalyst that was both technical and ephemeral in nature.</p>\n<p>That it is not a wholly positive or inconsequential affair. The long bull market is now showing signs of developing into a historic mania. This doesn’t mean that a market peak is imminent, but the normative process—whereby what is “appropriate” is ultimately influenced by extremes—means that the levels of risk being taken by the average investor are probably significantly higher than they were pre-Covid.</p>\n<p>—Michael Shaoul, Timothy Brackett</p>\n<p>Heigh-Ho Silver!</p>\n<p><i>The Aden Forecast Weekly Update</i></p>\n<p><i>The Aden Forecast</i></p>\n<p>adenforecast.com</p>\n<p>Feb. 4: Silver caught on fire by zipping up to the August highs near $30 on Monday during the Reddit buying frenzy. Silver was strong anyway, and it’s been holding up well, so whoever pegged silver knew what they were doing. Silver shares also got a big boost upward, and while they have since calmed down, it looks like volatility will stay with us. Silver has been holding above its 15-week moving average since December, and it’ll remain strong by staying above it at $25. The next milestone to surpass is the $30 level, the highs for this bull market. If clearly broken, another leg up will be underway. Keep your silver and silver share positions.</p>\n<p>—Mary Anne and Pamela Aden</p>\n<p>How to Play Oil’s Recent Rally</p>\n<p><i>Daily Insights</i></p>\n<p><i>BCA Research</i></p>\n<p><i>bcaresearch.com</i></p>\n<p>Feb 4: The recent oil rally will have consequences for asset prices beyond the energy market. While higher oil prices benefit oil exporters, they hurt the economies of oil importers, often with a lag.</p>\n<p>A great example of these dynamics is China. The Chinese economy is a large oil importer; hence, rising oil prices act as a tax on Chinese growth. Moreover, Chinese A shares massively overweight tech stocks, which receive no benefit from higher energy prices. In fact, over the past four years, increasing Brent prices reliably lead to a decline in on-shore domestic markets by roughly three months. The current setup is reminiscent of early 2018. Back then, Chinese A shares had been rallying for a few months after oil prices had started to rally. Ultimately, a deceleration in Chinese growth and cautious policy making from Beijing resulted in a powerful selloff of Chinese equities. Today, Chinese growth is once again decelerating and Beijing is conducting some significant regulatory tightening, while the People’s Bank of China is draining liquidity. Thus, a significant correction in Chinese shares is likely this spring.</p>\n<p>A lower-octane strategy to play these dynamics is to go long United Kingdom equities relative to Germany’s while espousing the implicit currency exposure. German equities are extremely underweight energy, and Germany imports its entire oil consumption. Meanwhile, the U.K. benchmark is replete with energy stocks and the U.K. remains an oil producer, even if it imports some of its oil (rising Brent represents a comparatively smaller tax on the U.K. economy). As a side benefit, the pound is very cheap against the euro and the U.K.’s vaccination campaign is massively ahead of the eurozone’s, which could result in earlier economic dividends north of the Channel and hurt the euro/pound in the process.</p>\n<p>—Mathieu Savary and Team</p>\n<p>High-Yield Opportunities</p>\n<p><i>Carret Credit Insight</i></p>\n<p><i>Carret Asset Mangaement</i></p>\n<p>carret.com</p>\n<p>Feb. 3: At year-end 2020, the iBoxx High-Yield Index yielded 4.23%, an all-time low. Spreads also registered record tightness. Low yields aren’t a surprise as investors globally reach for income. The Federal Reserve has backstopped the “fallen angels,” allowing many high-yield (HY) companies to refinance at ever-lower rates and extend upcoming maturities for another day. Strong equity markets are forecasting an earnings rebound, and the vaccines will bring brighter days soon. We continue to find attractive values in the short/intermediate portion of the high-quality HY market.</p>\n<p>We want to share a recent academic study with you regarding the risk and returns in the HY bond market: George Mason Universityrecently publisheda report on HY bond-fund returns and volatility relative to equities (S&amp;P 500). Since 1990, the average HY bond fund has delivered average annualized returns of 7.1% with a volatility of 7.7%. Over the same time period, the S&amp;P 500 delivered an average annualized return of 7.8%, but with almost double the volatility of 14.5%. The conclusion: HY bonds have paid total returns near those of the U.S. stock market with half of the volatility. We believe the HY market will offer competitive returns in the decade ahead, as equity valuations have risen and Treasury yields have plummeted. Our ability to utilize busted convertibles, preferreds, and special-situation income investments enhances our cash-flow opportunities.</p>\n<p>—Jason R. Graybill, Neil D. Klein</p>\n<p>Emerging Markets Blast Off</p>\n<p><i>PCM Report</i></p>\n<p><i>Peak Capital Management</i></p>\n<p>pcmstrategies.com</p>\n<p>Feb. 1: So far, 2021 has been a good year for emerging-market equities. Year to date, theiShares MSCI Emerging Marketsexchange-traded fund (EEM) is higher by roughly 8%, compared to a gain of approximately 3% for theSPDR S&amp;P 500ETF (SPY). Ever since the financial crisis of 2008, emerging markets collectively have woefully lagged U.S. equities.</p>\n<p>What could propel the asset class higher in 20201 and beyond? In the long term, the likely catalyst is demographics. Developed markets such as the U.S. and Europe have aging populations, which could suggest lower productivity and gross-domestic-product growth over the next decade compared to emerging-market economies.</p>\n<p>In its most recent capital-markets report, JPMorgan projected GDP growth across emerging markets to be 3.9% in 2021, compared to 1.6% across developed markets. The report suggests China and India will drive GDP growth, and emerging markets’ productivity and human capital will gradually converge to developed-market levels.</p>\n<p>—Clint Pekrul</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here’s What the GameStop Affair Has Taught Us</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\">\nHere’s What the GameStop Affair Has Taught Us\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-08 18:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/gamestop-episode-offers-lessons-for-investors-51612572300?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This commentary was issued recently by money managers, research firms, and market newsletter writers and has been edited by Barron’s.\nWhat GameStop Taught Us\nThe Weekly Speculator\nMarketfield Asset ...</p>\n\n<a href=\"https://www.barrons.com/articles/gamestop-episode-offers-lessons-for-investors-51612572300?mod=RTA\">Source 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","GME":"游戏驿站",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/gamestop-episode-offers-lessons-for-investors-51612572300?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195153829","content_text":"This commentary was issued recently by money managers, research firms, and market newsletter writers and has been edited by Barron’s.\nWhat GameStop Taught Us\nThe Weekly Speculator\nMarketfield Asset Management\nmarketfield.com\nFeb. 4: After all is said and done, one of the most lasting effects of theGameStop(ticker: GME) episode will be to educate many market participants about the key role and ultimate power held by the clearing institution, the Depository Trust Company. One of the stranger aspects of the affair has been the attempt to paint it as some form of moral crusade, or an opportunity for the “little guy” to get even with Wall Street. The truth is that some large investors lost a great deal of money, while others were well rewarded, just as some small investors will have reaped life-changing sums while others will have lost funds that may prove to be equally impactful. In this sense, the market is a meritocracy, which isn’t quite the same as saying that it is always fair in delivering outcomes.\nWhat is also clear is that late January saw a very significant degrossing of levered hedge-fund investors, without causing a deep correction in the equity market. The S&P 500 essentially respected support at the 50-day moving average, and didn’t need to move down to 3600, which we had set as a “worst case” target. The Nasdaq 100, Russell 2000, and MSCI Emerging Markets Index didn’t need to touch their corresponding trend support, and all three indexes managed to generate a positive return in January, unlike the S&P 500, which registered a small loss. The subsequent bounce has been rapid and broad, as would be expected from a catalyst that was both technical and ephemeral in nature.\nThat it is not a wholly positive or inconsequential affair. The long bull market is now showing signs of developing into a historic mania. This doesn’t mean that a market peak is imminent, but the normative process—whereby what is “appropriate” is ultimately influenced by extremes—means that the levels of risk being taken by the average investor are probably significantly higher than they were pre-Covid.\n—Michael Shaoul, Timothy Brackett\nHeigh-Ho Silver!\nThe Aden Forecast Weekly Update\nThe Aden Forecast\nadenforecast.com\nFeb. 4: Silver caught on fire by zipping up to the August highs near $30 on Monday during the Reddit buying frenzy. Silver was strong anyway, and it’s been holding up well, so whoever pegged silver knew what they were doing. Silver shares also got a big boost upward, and while they have since calmed down, it looks like volatility will stay with us. Silver has been holding above its 15-week moving average since December, and it’ll remain strong by staying above it at $25. The next milestone to surpass is the $30 level, the highs for this bull market. If clearly broken, another leg up will be underway. Keep your silver and silver share positions.\n—Mary Anne and Pamela Aden\nHow to Play Oil’s Recent Rally\nDaily Insights\nBCA Research\nbcaresearch.com\nFeb 4: The recent oil rally will have consequences for asset prices beyond the energy market. While higher oil prices benefit oil exporters, they hurt the economies of oil importers, often with a lag.\nA great example of these dynamics is China. The Chinese economy is a large oil importer; hence, rising oil prices act as a tax on Chinese growth. Moreover, Chinese A shares massively overweight tech stocks, which receive no benefit from higher energy prices. In fact, over the past four years, increasing Brent prices reliably lead to a decline in on-shore domestic markets by roughly three months. The current setup is reminiscent of early 2018. Back then, Chinese A shares had been rallying for a few months after oil prices had started to rally. Ultimately, a deceleration in Chinese growth and cautious policy making from Beijing resulted in a powerful selloff of Chinese equities. Today, Chinese growth is once again decelerating and Beijing is conducting some significant regulatory tightening, while the People’s Bank of China is draining liquidity. Thus, a significant correction in Chinese shares is likely this spring.\nA lower-octane strategy to play these dynamics is to go long United Kingdom equities relative to Germany’s while espousing the implicit currency exposure. German equities are extremely underweight energy, and Germany imports its entire oil consumption. Meanwhile, the U.K. benchmark is replete with energy stocks and the U.K. remains an oil producer, even if it imports some of its oil (rising Brent represents a comparatively smaller tax on the U.K. economy). As a side benefit, the pound is very cheap against the euro and the U.K.’s vaccination campaign is massively ahead of the eurozone’s, which could result in earlier economic dividends north of the Channel and hurt the euro/pound in the process.\n—Mathieu Savary and Team\nHigh-Yield Opportunities\nCarret Credit Insight\nCarret Asset Mangaement\ncarret.com\nFeb. 3: At year-end 2020, the iBoxx High-Yield Index yielded 4.23%, an all-time low. Spreads also registered record tightness. Low yields aren’t a surprise as investors globally reach for income. The Federal Reserve has backstopped the “fallen angels,” allowing many high-yield (HY) companies to refinance at ever-lower rates and extend upcoming maturities for another day. Strong equity markets are forecasting an earnings rebound, and the vaccines will bring brighter days soon. We continue to find attractive values in the short/intermediate portion of the high-quality HY market.\nWe want to share a recent academic study with you regarding the risk and returns in the HY bond market: George Mason Universityrecently publisheda report on HY bond-fund returns and volatility relative to equities (S&P 500). Since 1990, the average HY bond fund has delivered average annualized returns of 7.1% with a volatility of 7.7%. Over the same time period, the S&P 500 delivered an average annualized return of 7.8%, but with almost double the volatility of 14.5%. The conclusion: HY bonds have paid total returns near those of the U.S. stock market with half of the volatility. We believe the HY market will offer competitive returns in the decade ahead, as equity valuations have risen and Treasury yields have plummeted. Our ability to utilize busted convertibles, preferreds, and special-situation income investments enhances our cash-flow opportunities.\n—Jason R. Graybill, Neil D. Klein\nEmerging Markets Blast Off\nPCM Report\nPeak Capital Management\npcmstrategies.com\nFeb. 1: So far, 2021 has been a good year for emerging-market equities. Year to date, theiShares MSCI Emerging Marketsexchange-traded fund (EEM) is higher by roughly 8%, compared to a gain of approximately 3% for theSPDR S&P 500ETF (SPY). Ever since the financial crisis of 2008, emerging markets collectively have woefully lagged U.S. equities.\nWhat could propel the asset class higher in 20201 and beyond? In the long term, the likely catalyst is demographics. Developed markets such as the U.S. and Europe have aging populations, which could suggest lower productivity and gross-domestic-product growth over the next decade compared to emerging-market economies.\nIn its most recent capital-markets report, JPMorgan projected GDP growth across emerging markets to be 3.9% in 2021, compared to 1.6% across developed markets. The report suggests China and India will drive GDP growth, and emerging markets’ productivity and human capital will gradually converge to developed-market levels.\n—Clint Pekrul","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122092865,"gmtCreate":1624587081557,"gmtModify":1703841062438,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/QS\">$Quantumscape Corp.(QS)$</a>&nbsp;up up n away","listText":"<a href=\"https://laohu8.com/S/QS\">$Quantumscape Corp.(QS)$</a>&nbsp;up up n away","text":"$Quantumscape Corp.(QS)$ up up n away","images":[{"img":"https://static.tigerbbs.com/f2ce4d178fc348c3c07b54c549ab2915","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122092865","isVote":1,"tweetType":1,"viewCount":2546,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":389050925,"gmtCreate":1612630522867,"gmtModify":1704873289716,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"A big sham, huge sales during lock down last year, didn't feel right&nbsp;?","listText":"A big sham, huge sales during lock down last year, didn't feel right&nbsp;?","text":"A big sham, huge sales during lock down last year, didn't feel right ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/389050925","repostId":"2109722637","repostType":4,"isVote":1,"tweetType":1,"viewCount":524,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383169088,"gmtCreate":1612854025044,"gmtModify":1704874971409,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CLVS\">$Clovis Oncology(CLVS)$</a>&nbsp;More to come ???","listText":"<a href=\"https://laohu8.com/S/CLVS\">$Clovis Oncology(CLVS)$</a>&nbsp;More to come ???","text":"$Clovis Oncology(CLVS)$ More to come ???","images":[{"img":"https://static.tigerbbs.com/953b9509a949e6e67a84279494879421","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/383169088","isVote":1,"tweetType":1,"viewCount":1301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":383163362,"gmtCreate":1612854159956,"gmtModify":1704874973195,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Trade with caution! Set ur stock loss positions! Help me comment thanks!&nbsp;","listText":"Trade with caution! Set ur stock loss positions! Help me comment thanks!&nbsp;","text":"Trade with caution! Set ur stock loss positions! Help me comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/383163362","repostId":"1107682656","repostType":4,"repost":{"id":"1107682656","kind":"news","pubTimestamp":1612851008,"share":"https://ttm.financial/m/news/1107682656?lang=en_US&edition=fundamental","pubTime":"2021-02-09 14:10","market":"us","language":"en","title":"US stocks are in a bubble, and it's unclear when it will pop, hedge fund manager says","url":"https://stock-news.laohu8.com/highlight/detail?id=1107682656","media":"CNN Business","summary":"New York (CNN Business) The V-shaped recovery in the stock market is gathering serious momentum.\nThe","content":"<p><b>New York (CNN Business)&nbsp;</b>The V-shaped recovery in the stock market is gathering serious momentum.</p>\n<p>The S&amp;P 500 is now 75% higher than its low point last March. The Nasdaq has more than doubled since its pandemic low. Tesla shares are up a staggering 900% over that span. And an&nbsp;army of traders on Reddit&nbsp;were able tosend GameStop to the moon, at least&nbsp;for a few days.</p>\n<p>Although there is good reason for&nbsp;optimism&nbsp;about the&nbsp;economy&nbsp;and the pandemic, some fear themarket euphoria is getting out of hand-- yet it's impossible to time the bubble's burst.</p>\n<p>\"I do think we are in a bubble like we were in 2000,\" veteran hedge fund manager Mark Yusko told CNN Business. \"That doesn't mean that tomorrow the market is going to crash.\"</p>\n<p>Yusko, the CEO of Morgan Creek Capital Management, pointed to signs of extreme market speculation, such as the 1,625% spike forGameStop(GME)in January.</p>\n<p>\"Equity markets broadly are in bubble territory. Look at the parabolic moves by a number of companies like Tesla,\" he said.</p>\n<p>Tesla&nbsp;(TSLA)&nbsp;shares gained another 2% Monday after the company announced it is investing $1.5 billion in bitcoin&nbsp;and&nbsp;will begin accepting the cryptocurrency for payment.</p>\n<p>Yusko also pointed to howApple's&nbsp;(AAPL)&nbsp;annual net income has barely budged over the past five years. But per-share earnings, which drive share prices, have climbed sharply because the iPhone maker has aggressively repurchased its shares.</p>\n<p>\"That's just financial engineering,\" he said.</p>\n<p><b>Impossible to time</b></p>\n<p>Another exhibit in Yusko's bubble case is Snowflake. The&nbsp;money-losing cloud computing company, which went public in September, is trading at 327 times revenue, according to data provider Refinitiv. That's well above what even&nbsp;Zoom&nbsp;(ZM)&nbsp;and&nbsp;DocuSign&nbsp;(DOCU)&nbsp;trade at.</p>\n<p>Yusko's bubble warning echoes ones made in recent weeks by other well-known market players.</p>\n<p>Last month famed investor Jeremy Grantham said the bull market that began in 2009 had&nbsp;\"matured into a full-fledged epic bubble\"marked by \"&nbsp;extreme overvaluation, explosive price increases, frenzied issuance and hysterically speculative investor behavior.\"</p>\n<p>Of course, no one can time when a bubble will pop. And overheated markets can get much hotter before finally cooling off.</p>\n<p>\"The challenge with extreme valuations is they can go on longer than you think,\" Yusko said.</p>\n<p>And Yusko has been overly bearish before. Two years ago, he warned that the&nbsp;stock market was overvalued&nbsp;and tech stocks in particular would fall sharply. Yet the S&amp;P 500 is up more than 40% since then — despite the worst pandemic in a century.</p>\n<p><b>Morgan Stanley: Get on board or get out of the way</b></p>\n<p>While Yusko and Grantham are sounding the alarm, some major Wall Street firms remain very optimistic on the economy and the stock market. They point to the persistence of rock-bottom interest rates that have forced investors to bet on stocks.</p>\n<p>Goldman Sachs upgraded its forecasts for second-quarter 2021 and 2022 GDP on Monday because of a sense that Democrats will pass a significantly larger relief package than previously anticipated.</p>\n<p>Meanwhile, Goldman Sachs expects the S&amp;P 500 to climb to 4,300 by year end, up about 11% from current levels.</p>\n<p>Michael Wilson, equity strategist at Morgan Stanley, thinks the stock market's Reddit-driven scare is already firmly in the rearview mirror.</p>\n<p>\"It appears that greed once again has the upper hand over fear and the bull market is ready to resume in earnest,\" Wilson wrote in a note to clients Sunday.</p>\n<p>After suffering its worst week since October, the S&amp;P 500 rapidly regained its losses last week, spiking 4.7%.</p>\n<p>Even though Wilson has recently&nbsp;called out signs of complacency and extreme risk, he is warning his clients not to fight this market rally.</p>\n<p>\"The prevailing view of better economic growth, more fiscal stimulus to come and continued money printing from the fed has everyone 'all in,'\" Wilson wrote. \"When such periods occur, it's rarely been easy or wise to get in the way. Instead, these trends typically need to run their course until they are derailed or simply exhausted.\"</p>\n<p><b>SPAC mania</b></p>\n<p>Even Yusko, the Morgan Creek hedge fund manager, is diving headfirst into one area of market speculation:&nbsp;SPAC mania.</p>\n<p>Special purpose acquisition companies, or SPACs, are shells with no operating assets that exist purely to take private companies public. Virgin Galactic, DraftKings and Nikola have all gone public this way instead of a traditional IPO.Even former baseball superstar Alex Rodriguez&nbsp;is trying to raise $500 million through a SPAC called Slam Corp.</p>\n<p>Late last month, Yusko launched Morgan Creek Exos SPAC Originated ETF, a fund that will target pre- and post-merger SPACs with an equal weight approach.</p>\n<p>But some argue SPACs are more evidence of bubble-like behavior on Wall Street.</p>\n<p>SPACs are \"an invitation to give me your money and I'll let you know one day what I'm going to do with it,\" Grantham recently told CNBC.</p>\n<p>During the first three weeks of 2021 alone, SPACs raised $16 billion, surpassing the $13 billion that was raised in all of 2019, according to Goldman Sachs.</p>\n<p>\"Bubble-like sentiment surrounds SPACs,\" Goldman Sachs analysts said.</p>\n<p>Yusko disagreed with that sentiment and suggested the criticism from Goldman Sachs is convenient because the Wall Street bank relies on traditional IPOs for a chunk of its revenue.</p>\n<p>\"It's intellectually lazy to make that statement,\" he said. \"Saying SPACs are the problem is like saying hedge funds or mutual funds are the problem. It's just a legal structure.\"</p>\n<p>Yusko said SPACs are cheaper, more flexible and a smarter way to raise money than traditional IPOs.</p>\n<p>Unlike the other two SPAC ETFs that have recently launched, Yusko's fund is actively managed. That's critical, he said, because not all SPACs will be winners, especially given the loftiness of current market valuations.</p>\n<p>\"We are in an environment,\" Yusko said, \"where we believe caution is warranted.\"</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>US stocks are in a bubble, and it's unclear when it will pop, hedge fund manager says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS stocks are in a bubble, and it's unclear when it will pop, hedge fund manager says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-09 14:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2021/02/08/investing/wall-street-market-bubble-yusko/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York (CNN Business) The V-shaped recovery in the stock market is gathering serious momentum.\nThe S&P 500 is now 75% higher than its low point last March. The Nasdaq has more than doubled since its...</p>\n\n<a href=\"https://edition.cnn.com/2021/02/08/investing/wall-street-market-bubble-yusko/index.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom","TSLA":"特斯拉",".SPX":"S&P 500 Index","GME":"游戏驿站",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/02/08/investing/wall-street-market-bubble-yusko/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107682656","content_text":"New York (CNN Business) The V-shaped recovery in the stock market is gathering serious momentum.\nThe S&P 500 is now 75% higher than its low point last March. The Nasdaq has more than doubled since its pandemic low. Tesla shares are up a staggering 900% over that span. And an army of traders on Reddit were able tosend GameStop to the moon, at least for a few days.\nAlthough there is good reason for optimism about the economy and the pandemic, some fear themarket euphoria is getting out of hand-- yet it's impossible to time the bubble's burst.\n\"I do think we are in a bubble like we were in 2000,\" veteran hedge fund manager Mark Yusko told CNN Business. \"That doesn't mean that tomorrow the market is going to crash.\"\nYusko, the CEO of Morgan Creek Capital Management, pointed to signs of extreme market speculation, such as the 1,625% spike forGameStop(GME)in January.\n\"Equity markets broadly are in bubble territory. Look at the parabolic moves by a number of companies like Tesla,\" he said.\nTesla (TSLA) shares gained another 2% Monday after the company announced it is investing $1.5 billion in bitcoin and will begin accepting the cryptocurrency for payment.\nYusko also pointed to howApple's (AAPL) annual net income has barely budged over the past five years. But per-share earnings, which drive share prices, have climbed sharply because the iPhone maker has aggressively repurchased its shares.\n\"That's just financial engineering,\" he said.\nImpossible to time\nAnother exhibit in Yusko's bubble case is Snowflake. The money-losing cloud computing company, which went public in September, is trading at 327 times revenue, according to data provider Refinitiv. That's well above what even Zoom (ZM) and DocuSign (DOCU) trade at.\nYusko's bubble warning echoes ones made in recent weeks by other well-known market players.\nLast month famed investor Jeremy Grantham said the bull market that began in 2009 had \"matured into a full-fledged epic bubble\"marked by \" extreme overvaluation, explosive price increases, frenzied issuance and hysterically speculative investor behavior.\"\nOf course, no one can time when a bubble will pop. And overheated markets can get much hotter before finally cooling off.\n\"The challenge with extreme valuations is they can go on longer than you think,\" Yusko said.\nAnd Yusko has been overly bearish before. Two years ago, he warned that the stock market was overvalued and tech stocks in particular would fall sharply. Yet the S&P 500 is up more than 40% since then — despite the worst pandemic in a century.\nMorgan Stanley: Get on board or get out of the way\nWhile Yusko and Grantham are sounding the alarm, some major Wall Street firms remain very optimistic on the economy and the stock market. They point to the persistence of rock-bottom interest rates that have forced investors to bet on stocks.\nGoldman Sachs upgraded its forecasts for second-quarter 2021 and 2022 GDP on Monday because of a sense that Democrats will pass a significantly larger relief package than previously anticipated.\nMeanwhile, Goldman Sachs expects the S&P 500 to climb to 4,300 by year end, up about 11% from current levels.\nMichael Wilson, equity strategist at Morgan Stanley, thinks the stock market's Reddit-driven scare is already firmly in the rearview mirror.\n\"It appears that greed once again has the upper hand over fear and the bull market is ready to resume in earnest,\" Wilson wrote in a note to clients Sunday.\nAfter suffering its worst week since October, the S&P 500 rapidly regained its losses last week, spiking 4.7%.\nEven though Wilson has recently called out signs of complacency and extreme risk, he is warning his clients not to fight this market rally.\n\"The prevailing view of better economic growth, more fiscal stimulus to come and continued money printing from the fed has everyone 'all in,'\" Wilson wrote. \"When such periods occur, it's rarely been easy or wise to get in the way. Instead, these trends typically need to run their course until they are derailed or simply exhausted.\"\nSPAC mania\nEven Yusko, the Morgan Creek hedge fund manager, is diving headfirst into one area of market speculation: SPAC mania.\nSpecial purpose acquisition companies, or SPACs, are shells with no operating assets that exist purely to take private companies public. Virgin Galactic, DraftKings and Nikola have all gone public this way instead of a traditional IPO.Even former baseball superstar Alex Rodriguez is trying to raise $500 million through a SPAC called Slam Corp.\nLate last month, Yusko launched Morgan Creek Exos SPAC Originated ETF, a fund that will target pre- and post-merger SPACs with an equal weight approach.\nBut some argue SPACs are more evidence of bubble-like behavior on Wall Street.\nSPACs are \"an invitation to give me your money and I'll let you know one day what I'm going to do with it,\" Grantham recently told CNBC.\nDuring the first three weeks of 2021 alone, SPACs raised $16 billion, surpassing the $13 billion that was raised in all of 2019, according to Goldman Sachs.\n\"Bubble-like sentiment surrounds SPACs,\" Goldman Sachs analysts said.\nYusko disagreed with that sentiment and suggested the criticism from Goldman Sachs is convenient because the Wall Street bank relies on traditional IPOs for a chunk of its revenue.\n\"It's intellectually lazy to make that statement,\" he said. \"Saying SPACs are the problem is like saying hedge funds or mutual funds are the problem. It's just a legal structure.\"\nYusko said SPACs are cheaper, more flexible and a smarter way to raise money than traditional IPOs.\nUnlike the other two SPAC ETFs that have recently launched, Yusko's fund is actively managed. That's critical, he said, because not all SPACs will be winners, especially given the loftiness of current market valuations.\n\"We are in an environment,\" Yusko said, \"where we believe caution is warranted.\"","news_type":1,"symbols_score_info":{".IXIC":0.9,"TSLA":0.9,"ZM":0.9,".SPX":0.9,".DJI":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":585,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940854519,"gmtCreate":1677828924032,"gmtModify":1677828926859,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/CRM\">$Salesforce.com(CRM)$ &nbsp;</a>gogo","listText":"<a href=\"https://ttm.financial/S/CRM\">$Salesforce.com(CRM)$ &nbsp;</a>gogo","text":"$Salesforce.com(CRM)$ gogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940854519","isVote":1,"tweetType":1,"viewCount":1924,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122091591,"gmtCreate":1624587005613,"gmtModify":1703841058502,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Gogo","listText":"Gogo","text":"Gogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122091591","repostId":"2146023477","repostType":4,"isVote":1,"tweetType":1,"viewCount":912,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322714652,"gmtCreate":1615827059976,"gmtModify":1704787242815,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"A spread out investment. Need a like and comment plzs help tyvm!&nbsp;","listText":"A spread out investment. Need a like and comment plzs help tyvm!&nbsp;","text":"A spread out investment. Need a like and comment plzs help tyvm!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322714652","repostId":"1170973847","repostType":4,"isVote":1,"tweetType":1,"viewCount":744,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328936883,"gmtCreate":1615478243142,"gmtModify":1704783453783,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Any turning back?&nbsp;","listText":"Any turning back?&nbsp;","text":"Any turning back?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328936883","repostId":"1195587343","repostType":4,"repost":{"id":"1195587343","kind":"news","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":1615474639,"share":"https://ttm.financial/m/news/1195587343?lang=en_US&edition=fundamental","pubTime":"2021-03-11 22:57","market":"us","language":"en","title":"EV  Stocks are blazing hot, once again.","url":"https://stock-news.laohu8.com/highlight/detail?id=1195587343","media":"Tiger Newspress","summary":"Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto&nbsp;up&nbsp;7.8%,NIO&nbsp;up&nbsp;5.2%,Tesla&nbsp;up&nbsp;3.4%.","content":"<p>Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto&nbsp;up&nbsp;7.8%,NIO&nbsp;up&nbsp;5.2%,Tesla&nbsp;up&nbsp;3.4%.</p><p><img src=\"https://static.tigerbbs.com/50acfad49f16b775a36151e7e52d3648\" tg-width=\"412\" tg-height=\"295\"></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>EV  Stocks are blazing hot, once again.</title>\n<style 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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\">\nEV  Stocks are blazing hot, once again.\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\">2021-03-11 22:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto&nbsp;up&nbsp;7.8%,NIO&nbsp;up&nbsp;5.2%,Tesla&nbsp;up&nbsp;3.4%.</p><p><img src=\"https://static.tigerbbs.com/50acfad49f16b775a36151e7e52d3648\" tg-width=\"412\" tg-height=\"295\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195587343","content_text":"Xpeng Motors stock is up 10% to $33.8 in Thursday morning trading,Li Auto up 7.8%,NIO up 5.2%,Tesla up 3.4%.","news_type":1,"symbols_score_info":{"XPEV":0.9}},"isVote":1,"tweetType":1,"viewCount":832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387512361,"gmtCreate":1613754191453,"gmtModify":1704884730442,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/FCX\">$Freeport-McMoRan(FCX)$</a>&nbsp;copper shortage, counter to consider!&nbsp;","listText":"<a href=\"https://laohu8.com/S/FCX\">$Freeport-McMoRan(FCX)$</a>&nbsp;copper shortage, counter to consider!&nbsp;","text":"$Freeport-McMoRan(FCX)$ copper shortage, counter to consider!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/387512361","isVote":1,"tweetType":1,"viewCount":808,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383174195,"gmtCreate":1612860708517,"gmtModify":1704875035394,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Up up and away!&nbsp;","listText":"Up up and away!&nbsp;","text":"Up up and away!","images":[{"img":"https://static.tigerbbs.com/2a58087b427117ac02d46dc68f1dfae9","width":"1080","height":"2261"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383174195","isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":383037590,"gmtCreate":1612805266610,"gmtModify":1704874550467,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"MARA&nbsp;BTBT","listText":"MARA&nbsp;BTBT","text":"MARA BTBT","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383037590","repostId":"1133468331","repostType":4,"isVote":1,"tweetType":1,"viewCount":944,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389728259,"gmtCreate":1612799767071,"gmtModify":1704874465781,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CLVS\">$Clovis Oncology(CLVS)$</a>&nbsp;up up up","listText":"<a href=\"https://laohu8.com/S/CLVS\">$Clovis Oncology(CLVS)$</a>&nbsp;up up up","text":"$Clovis Oncology(CLVS)$ up up up","images":[{"img":"https://static.tigerbbs.com/6030ca3053a092bd201283e61e2c8430","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/389728259","isVote":1,"tweetType":1,"viewCount":883,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":380615855,"gmtCreate":1612536914077,"gmtModify":1704872596491,"author":{"id":"3570109781201455","authorId":"3570109781201455","name":"Damien888","avatar":"https://static.tigerbbs.com/a823294efb4ef7394a3a3c5d61b5cd2f","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3570109781201455","idStr":"3570109781201455"},"themes":[],"htmlText":"Go tiger go!&nbsp;","listText":"Go tiger go!&nbsp;","text":"Go tiger go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380615855","repostId":"1174038896","repostType":2,"repost":{"id":"1174038896","kind":"news","pubTimestamp":1612279492,"share":"https://ttm.financial/m/news/1174038896?lang=en_US&edition=fundamental","pubTime":"2021-02-02 23:24","market":"us","language":"en","title":"The Robinhood of China：UP Fintech Holding Limited (TIGR)","url":"https://stock-news.laohu8.com/highlight/detail?id=1174038896","media":"seekingalpha.com","summary":"We are long shares of UP Fintech, the holding company of Tiger Brokers, which we believe is position","content":"<p>We are long shares of UP Fintech, the holding company of Tiger Brokers, which we believe is positioned to become the Robinhood of China. Love it or hate it, you have to admit that Robinhood has created an enormous amount of value for its investors in a very short time: having debuted its trading app in 2015, the company is now reportedly valued at more than $20 billion. Even in a market full of established online brokerages like E*TRADE (recently acquired for $13 billion) and TD Ameritrade (recently acquired for $26 billion), Robinhood carved out a sizable niche for itself with its low fees, user-friendly design, and mobile-first approach.</p><p>Tiger Brokers shares a similar approach but in a less mature market. Founded by a Tsinghua University computer-science graduate then in his late twenties, Tiger also launched in 2015; today, it has more than a million customer accounts, and its app facilitates over a billion dollars’ worth of trades every day (more than double the prior year’s level). With its low fees (commissions average 0.03%) and sleek design, Tiger has rapidly gained a following among tech-savvy Chinese millennials – 72% of its customers are under 35 years old – in part by making it cheaper and easier for Chinese citizens to invest in US-listed stocks. A strange aspect of the immense growth in the Chinese economy is that many of China’s most prominent and exciting firms, like Alibaba and NIO, trade on American stock exchanges, which ordinary Chinese citizens have historically had difficulty getting access to. By streamlining and simplifying the process, Tiger has outflanked incumbent banks and brokers, which have traditionally focused on serving older and wealthier clients via physical offices and in-person salesmanship. Tiger’s entrepreneurial spirit and scalable technology have also empowered it to expand into new geographic markets, like Singapore and Australia, and adjacent business lines, like IPO underwriting. Moreover, unlike so many other fast-growing companies, Tiger has actually begun to turn a profit, gaining enough operating leverage to achieve a respectable 21% pretax profit margin in the third quarter.</p><p>We believe Tiger has a long runway for continued growth. Though China is famous for its high savings rate, households have tended to invest in real estate and bank deposits, with equities accounting for a much smaller fraction of total wealth than in Western developed markets. But as more Chinese investors, especially young ones, become familiar with global capital markets, portfolios are shifting, freeing up a gargantuan addressable market. Already, Chinese household wealth totals $78 trillion, and we estimate that in 10 years it will exceed $200 trillion – almost twice the current US level. There will be room for multiple online brokerages worth tens of billions of dollars, and we believe Tiger – currently valued at $2.7 billion – will be <a href=\"https://laohu8.com/S/AONE.U\">one</a> of them.</p><p>Despite its impressive track record and vast potential, Tiger has been overlooked. According to Bloomberg, zero sell-side firms cover the company; during its past three earnings calls, only two people, on average, asked questions. It’s time to enter the tiger’s den before it gets crowded.</p><p><i>Disclaimer: As of the publication date of this report, Kerrisdale Capital Management, LLC and its affiliates (collectively, “Kerrisdale”), have long positions in the stock of UP Fintech Holding Limited (the “Company”). Kerrisdale stands to realize gains in the event that the price of the stock increases. Following publication, Kerrisdale may transact in the securities of the Company. All expressions of opinion are subject to change without notice, and Kerrisdale does not undertake to update this report or any information herein. Please read our full legal disclaimer at the end of this report.</i></p><p><b>Company Overview</b></p><p><img src=\"https://static.tigerbbs.com/18e6d829da2e23cc2b71a0304cc45fa6\" tg-width=\"644\" tg-height=\"257\" referrerpolicy=\"no-referrer\"></p><p>Founded in 2014 by Tianhua Wu, a Tsinghua University computer-science graduate and former employee at the US-listed Chinese internet giant NetEase, Tiger Brokers began with nothing but a vision: to make it easier for Chinese-speaking investors to trade securities globally. In mainland China, companies listed on the local, RMB-denominated Shanghai and Shenzhen stock exchanges tend to be somewhat sleepy, weighted toward traditional financial and industrial firms, while up-and-coming high-tech businesses, often lacking the track record of profitability required by the exchanges, usually go public on Hong Kong or US-based exchanges. But this makes it difficult for mainland Chinese investors to actually buy into those businesses, let alone diversify their portfolios into non-Chinese assets, because capital controls designed to prop up the value of the Chinese currency limit the purchase of foreign currency to USD 50,000 per person per year, and traditional local brokerages, with their focus on face-toface interaction and brick-and-mortar respectability, haven’t made it straightforward for normal people to put dollars to work in offshore trading. Even beyond the legal restrictions of mainland China, Chinese-speaking investors globally suffered from a lack of easy-to-use online brokerage services in their own language.</p><p>By distilling this process of funding and trading into a single user-friendly mobile app, Tiger quickly caught on among younger Chinese investors, especially relatively affluent participants in the internet sector; according to a 2017 article in the South China Morning Post, “The majority of Tiger users are male, live in first-tier Chinese cities and work for technology and financial firms, so they have always been familiar with the technology, media, telecom (TMT) sectors. Some even own foreign assets because they work for companies that have had overseas initial public offerings…Nearly 60 per cent of Tiger users were born after 1985.” (Robinhood users in the US likely have very similar demographics.) By focusing initially on trading in US-listed equities, Tiger bypassed the need to obtain a Chinese brokerage license, the supply of which is very tightly controlled; instead, Tiger users acquire dollars on their own, then wire them to <a href=\"https://laohu8.com/S/AONE\">one</a> of Tiger’s offshore-domiciled brokerage entities. The business is managed from Beijing but, for legal purposes, the customer trades are conducted elsewhere.</p><p>Initially, as Tiger worked to build out its own technology, it used Interactive Brokers to process and clear its customers’ trades, which allowed it to launch new products more quickly but cut into profitability. Last year, however, after acquiring a US-based broker, Tiger began to selfclear more of its trades and move toward full independence. In fact, Interactive Brokers – a major player in the US online brokerage sector for decades, with a ~$30 billion market cap -- recognized Tiger’s potential from early on and made a strategic investment in its shares; it now owns 7.6% of the company (source: Interactive Brokers 2019 Q3 10-Q). (Xiaomi, the massive mobile device maker, was also an early investor and currently owns 12% of Tiger (source: Capital IQ).) Interactive Brokers’ discussion of its decision to invest in Tiger nicely illustrates Tiger’s strengths: in April 2019, it spoke of Tiger’s “huge potential” and “technological excellence,” and in June 2019 added: We recently invested in Tiger Brokers, which is one of our largest introducing broker customers. And we have found that, that is more effective because we don't usually find that somebody has better technology, but that they have, like in the case of Tiger, had a Chinese language mobile app that was impressive and that they had managed to crack that nut certainly more quickly than we would have been able to.</p><p>Today, Tiger continues to crack the nut of mobile trading for a Chinese-speaking audience, hitting the “million-account milestone faster than any other online brokerage firm focusing on global Chinese investors,” according to the company. Though the business model remains fairly simple – revenue is dominated by commissions (55% of the total in the latest reported quarter) and net interest income, primarily derived from margin loans (20%), with expenses dominated by the cost of software engineers – Tiger has begun to expand into adjacent business lines, including IPO underwriting (helping its customers gain early access to newly US-listed Chinese companies) and the management of employee stock ownership plans (serving many of those same companies). To be sure, Tiger has competition, primarily from Futu, another up-andcoming China-focused low-cost online broker (currently valued at $15 billion). But with such a large and rapidly growing addressable market, competition hasn’t stopped Tiger from consistently winning new business.</p><p><b>Tiger Has an Impressive Track Record of Growth </b></p><p>As previously stated, Tiger’s total customer accounts began to exceed 1 million in the past few months – an impressive achievement after just a few years in operation, with limited marketing. But there’s an important wrinkle: due mainly to the frictions and restrictions involved in converting RMB into foreign currency, only a fraction of those accounts have actually been funded with deposits; total funded accounts stand at only 215,000 as of 9/30/2020. But this number too has been growing exponentially:</p><p><img src=\"https://static.tigerbbs.com/c04bd85cc1082f92508d05d7cf2687aa\" tg-width=\"494\" tg-height=\"378\" referrerpolicy=\"no-referrer\"></p><p>The large gap between total accounts and funded accounts illustrates the huge latent demand for Tiger’s services: assuming users are opening accounts because they intend to eventually use them to trade – the process involves submitting official government identity documents and other personal information, so it’s unlikely to be done on a lark – Tiger has the potential to increase funded accounts by a factor of 4.5x just by converting existing customers, let alone attracting new ones.</p><p>While the trading volume generated by funded accounts fluctuates based on sentiment, recent market returns, and other difficult-to-predict factors, aggregate quarterly trading volume has generally increased over time, from zero to $63 billion in the third quarter of 2020.</p><p><img src=\"https://static.tigerbbs.com/9247eb383d78f50e4194d69c9260caae\" tg-width=\"494\" tg-height=\"378\" referrerpolicy=\"no-referrer\"></p><p>We expect this strength in trading volume to persist into the fourth quarter and beyond. Interactive Brokers, for instance, recently reported that in the fourth quarter its DARTs (daily average revenue trades) increased 165% year-over-year. COVID-19-related market volatility, increased time spent at home, and strong recent returns have all combined to foster greater enthusiasm for trading across the world.</p><p>Of course, given Tiger’s strategy of enticing customers with convenience and low cost, it takes a lot of trading volume to generate meaningful revenues; at an average commission rate of only 3 basis points, scale is essential. But Tiger has already proven that it can produce not only revenue but profit. Unlike many publicly traded start-ups that never seem to achieve operating leverage, Tiger has begun to generate consistent and growing profits even while continuing to invest in personnel and technology:</p><p><img src=\"https://static.tigerbbs.com/ca4d7e73bdbb5c85c00a92f42e8d59e8\" tg-width=\"616\" tg-height=\"445\" referrerpolicy=\"no-referrer\"></p><p>Note: operating expenses for 2018 Q2 exclude $32.4 million in one-time share-based compensation expense in order to better illustrate the long-term trend.</p><p>We believe that Tiger’s operating margin – already at 21% in the third quarter of 2020 – can continue to expand over time. The experience of the American online brokers illustrates the possibilities. Despite intense competition for customers (including bonuses for opening new accounts and constant pressure on fee levels), as well as the negative impact of low interest rates, in recent years both E*TRADE and TD Ameritrade managed to consistently produce ~40% operating margins on billions of dollars in revenue:</p><p><img src=\"https://static.tigerbbs.com/b769cf9055dbaed2e592cefc50a4c015\" tg-width=\"572\" tg-height=\"315\" referrerpolicy=\"no-referrer\"></p><p>Note: E*TRADE operating income for 2015 excludes $413 million pre-tax charge on the termination of legacy wholesale funding obligations.</p><p>We see the same margin potential for Tiger because of the basic nature of the online brokerage business model: although creating reliable and user-friendly infrastructure for self-directed retail trading is difficult and costly, each incremental trade that flows through that infrastructure incurs little to no expenses (especially as Tigers shifts toward self-clearing). Increased revenue from increased trading can then drop straight to the bottom line – and if Tiger continues to succeed at reaching the huge, underserved market for global securities trading by Chinese investors, revenue will continue to increase.</p><p><b>Tiger Is Tapping into a Massive and Fast-Growing Addressable Market </b></p><p>While it’s become a cliché to wax poetic about the size of the Chinese market for various products and services, some clichés happen to be true, and the addressable market for Chinese securities trading truly is vast. At the most basic level, traders aim to put their money to work, and rapid economic growth means that the Chinese population has more and more money to deploy. According to Credit Suisse’s Global Wealth Report, China is now home to the second largest amount of aggregate household wealth in the world (after the United States), and average wealth per adult has increased exponentially over the past two decades:</p><p><img src=\"https://static.tigerbbs.com/6270619415c2bc13ee62fd1e937aa077\" tg-width=\"582\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>In fact, without making any heroic assumptions but simply by extrapolating from recent secular trends, we expect that total household wealth in China will exceed that in the US within the next 10 years, at which point household wealth in China will be more than $200 trillion – almost double what it is the US today:</p><p><img src=\"https://static.tigerbbs.com/7d12f60f8df429602c90f99518eca38d\" tg-width=\"575\" tg-height=\"140\" referrerpolicy=\"no-referrer\"></p><p>However, Chinese households have historically allocated their wealth quite differently from their American counterparts, investing heavily in real estate and, within the realm of financial assets, in simple bank deposits, not stocks and bonds. But that behavior is changing – a trend that has attracted much attention from observers of the global asset-management industry. Deloitte, for instance, recently estimated that by 2023 China’s “total addressable retail financial wealth is expected to reach US$30.2 trillion” – yet only a tenth of that is expected to be managed by local Chinese investment funds. The potential for Chinese households to rebalance their evergrowing portfolios into a wider range of financial assets is clearly vast, and there will be opportunities for many large players to carve out their own niches. Tiger is well positioned to be one of them, just as online discount brokers in the United States have created tens of billions of dollars of shareholder value even in the face of competition from more traditional brick-andmortar brokers – and each other. With a hundred-trillion-dollar market up for grabs, the runway for growth can extend a long way indeed.</p><p>An additional tailwind for Tiger is that its initial brand focus on giving Chinese traders access to US stocks aligns well with Chinese investors’ long-term need to diversify globally. The local Shanghai and Shenzhen stock exchanges that have been by far the easiest for Chinese citizens to access contain just ~10% of global equities by market value; in contrast, the NYSE and Nasdaq contain nearly half. In the long run, Chinese investors, whether conservative indexers or aggressive speculators, won’t be content with exclusively local stocks; they will seek to broaden their portfolios globally, and Tiger will make it easy for them to do it.</p><p><b>Conclusion </b></p><p>What’s remarkable about Robinhood’s $20 billion value is not just that it was created in a short period of time; it’s also that it emerged within what appeared to be a mature, saturated market. E*TRADE was founded in 1982 and went public in 1996; the concept of low-cost, online stock trading was hardly a new one in 2015. Yet Robinhood proved that the amount of tradeable wealth in the hands of relatively young and tech-savvy Americans was large enough to accommodate a new $20-billion player. Given the rapid growth in China’s wealth and the more nascent state of its retail investing industry, the opportunity that lays before Tiger is, if anything, larger. In the old Disney animated movie, Robin Hood is a fox – but we think a tiger is even better.</p><p><b>Full Legal Disclaimer </b></p><p>As of the publication date of this report, Kerrisdale Capital Management LLC and its affiliates (collectively \"Kerrisdale\") have long positions in the stock of UP Fintech Holding Limited (“TIGR”). In addition, others that contributed research to this report and others that we have shared our research with (collectively with Kerrisdale, the “Authors”) likewise may have long positions in the stock of TIGR. The Authors stand to realize gains in the event that the price of the stock increases. Following publication of the report, the Authors may transact in the securities of the company covered herein. All content in this report represent the opinions of Kerrisdale. The Authors have obtained all information herein from sources they believe to be accurate and reliable. However, such information is presented “as is,” without warranty of any kind – whether express or implied. The Authors make no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results obtained from its use. All expressions of opinion are subject to change without notice, and the Authors do not undertake to update or supplement this report or any information contained herein. This report is not a recommendation to purchase the shares of any company, including TIGR, and is only a discussion of why Kerrisdale is long TIGR.</p><p>This document is for informational purposes only and it is not intended as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. The information included in this document is based upon selected public market data and reflects prevailing conditions and the Authors’ views as of this date, all of which are accordingly subject to change. The Authors’ opinions and estimates constitute a best efforts judgment and should be regarded as indicative, preliminary and for illustrative purposes only.</p><p>Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This report’s estimated fundamental value only represents a best efforts estimate of the potential fundamental valuation of a specific security, and is not expressed as, or implied as, assessments of the quality of a security, a summary of past performance, or an actionable investment strategy for an investor. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein or of any of the affiliates of the Authors. Also, this document does not in any way constitute an offer or solicitation of an offer to buy or sell any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction. To the best of the Authors’ abilities and beliefs, all information contained herein is accurate and reliable. The Authors reserve the rights for their affiliates, officers, and employees to hold cash or derivative positions in any company discussed in this document at any time. As of the original publication date of this document, investors should assume that the Authors are long shares of TIGR and stand to potentially realize gains in the event that the market valuation of the company’s common equity is higher than prior to the original publication date. These affiliates, officers, and individuals shall have no obligation to inform any investor or viewer of this report about their historical, current, and future trading activities. In addition, the Authors may benefit from any change in the valuation of any other companies, securities, or commodities discussed in this document. Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of the Authors’ operations and their affiliates. The compensation structure for the Authors’ analysts is generally a derivative of their effectiveness in generating and communicating new investment ideas and the performance of recommended strategies for the Authors. This could represent a potential conflict of interest in the statements and opinions in the Authors’ documents.</p><p>The information contained in this document may include, or incorporate by reference, forwardlooking statements, which would include any statements that are not statements of historical fact. Any or all of the Authors’ forward-looking assumptions, expectations, projections, intentions or beliefs about future events may turn out to be wrong. These forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, most of which are beyond the Authors’ control. Investors should conduct independent due diligence, with assistance from professional financial, legal and tax experts, on all securities, companies, and commodities discussed in this document and develop a stand-alone judgment of the relevant markets prior to making any investment decision.</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>The Robinhood of China：UP Fintech Holding Limited (TIGR)</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\">\nThe Robinhood of China：UP Fintech Holding Limited (TIGR)\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-02 23:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4402639-up-fintech-holding-limited-robinhood-of-china><strong>seekingalpha.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We are long shares of UP Fintech, the holding company of Tiger Brokers, which we believe is positioned to become the Robinhood of China. Love it or hate it, you have to admit that Robinhood has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4402639-up-fintech-holding-limited-robinhood-of-china\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1f8fbd3945fc25f78aa515751833f5c9","relate_stocks":{"TIGR":"老虎证券"},"source_url":"https://seekingalpha.com/article/4402639-up-fintech-holding-limited-robinhood-of-china","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174038896","content_text":"We are long shares of UP Fintech, the holding company of Tiger Brokers, which we believe is positioned to become the Robinhood of China. Love it or hate it, you have to admit that Robinhood has created an enormous amount of value for its investors in a very short time: having debuted its trading app in 2015, the company is now reportedly valued at more than $20 billion. Even in a market full of established online brokerages like E*TRADE (recently acquired for $13 billion) and TD Ameritrade (recently acquired for $26 billion), Robinhood carved out a sizable niche for itself with its low fees, user-friendly design, and mobile-first approach.Tiger Brokers shares a similar approach but in a less mature market. Founded by a Tsinghua University computer-science graduate then in his late twenties, Tiger also launched in 2015; today, it has more than a million customer accounts, and its app facilitates over a billion dollars’ worth of trades every day (more than double the prior year’s level). With its low fees (commissions average 0.03%) and sleek design, Tiger has rapidly gained a following among tech-savvy Chinese millennials – 72% of its customers are under 35 years old – in part by making it cheaper and easier for Chinese citizens to invest in US-listed stocks. A strange aspect of the immense growth in the Chinese economy is that many of China’s most prominent and exciting firms, like Alibaba and NIO, trade on American stock exchanges, which ordinary Chinese citizens have historically had difficulty getting access to. By streamlining and simplifying the process, Tiger has outflanked incumbent banks and brokers, which have traditionally focused on serving older and wealthier clients via physical offices and in-person salesmanship. Tiger’s entrepreneurial spirit and scalable technology have also empowered it to expand into new geographic markets, like Singapore and Australia, and adjacent business lines, like IPO underwriting. Moreover, unlike so many other fast-growing companies, Tiger has actually begun to turn a profit, gaining enough operating leverage to achieve a respectable 21% pretax profit margin in the third quarter.We believe Tiger has a long runway for continued growth. Though China is famous for its high savings rate, households have tended to invest in real estate and bank deposits, with equities accounting for a much smaller fraction of total wealth than in Western developed markets. But as more Chinese investors, especially young ones, become familiar with global capital markets, portfolios are shifting, freeing up a gargantuan addressable market. Already, Chinese household wealth totals $78 trillion, and we estimate that in 10 years it will exceed $200 trillion – almost twice the current US level. There will be room for multiple online brokerages worth tens of billions of dollars, and we believe Tiger – currently valued at $2.7 billion – will be one of them.Despite its impressive track record and vast potential, Tiger has been overlooked. According to Bloomberg, zero sell-side firms cover the company; during its past three earnings calls, only two people, on average, asked questions. It’s time to enter the tiger’s den before it gets crowded.Disclaimer: As of the publication date of this report, Kerrisdale Capital Management, LLC and its affiliates (collectively, “Kerrisdale”), have long positions in the stock of UP Fintech Holding Limited (the “Company”). Kerrisdale stands to realize gains in the event that the price of the stock increases. Following publication, Kerrisdale may transact in the securities of the Company. All expressions of opinion are subject to change without notice, and Kerrisdale does not undertake to update this report or any information herein. Please read our full legal disclaimer at the end of this report.Company OverviewFounded in 2014 by Tianhua Wu, a Tsinghua University computer-science graduate and former employee at the US-listed Chinese internet giant NetEase, Tiger Brokers began with nothing but a vision: to make it easier for Chinese-speaking investors to trade securities globally. In mainland China, companies listed on the local, RMB-denominated Shanghai and Shenzhen stock exchanges tend to be somewhat sleepy, weighted toward traditional financial and industrial firms, while up-and-coming high-tech businesses, often lacking the track record of profitability required by the exchanges, usually go public on Hong Kong or US-based exchanges. But this makes it difficult for mainland Chinese investors to actually buy into those businesses, let alone diversify their portfolios into non-Chinese assets, because capital controls designed to prop up the value of the Chinese currency limit the purchase of foreign currency to USD 50,000 per person per year, and traditional local brokerages, with their focus on face-toface interaction and brick-and-mortar respectability, haven’t made it straightforward for normal people to put dollars to work in offshore trading. Even beyond the legal restrictions of mainland China, Chinese-speaking investors globally suffered from a lack of easy-to-use online brokerage services in their own language.By distilling this process of funding and trading into a single user-friendly mobile app, Tiger quickly caught on among younger Chinese investors, especially relatively affluent participants in the internet sector; according to a 2017 article in the South China Morning Post, “The majority of Tiger users are male, live in first-tier Chinese cities and work for technology and financial firms, so they have always been familiar with the technology, media, telecom (TMT) sectors. Some even own foreign assets because they work for companies that have had overseas initial public offerings…Nearly 60 per cent of Tiger users were born after 1985.” (Robinhood users in the US likely have very similar demographics.) By focusing initially on trading in US-listed equities, Tiger bypassed the need to obtain a Chinese brokerage license, the supply of which is very tightly controlled; instead, Tiger users acquire dollars on their own, then wire them to one of Tiger’s offshore-domiciled brokerage entities. The business is managed from Beijing but, for legal purposes, the customer trades are conducted elsewhere.Initially, as Tiger worked to build out its own technology, it used Interactive Brokers to process and clear its customers’ trades, which allowed it to launch new products more quickly but cut into profitability. Last year, however, after acquiring a US-based broker, Tiger began to selfclear more of its trades and move toward full independence. In fact, Interactive Brokers – a major player in the US online brokerage sector for decades, with a ~$30 billion market cap -- recognized Tiger’s potential from early on and made a strategic investment in its shares; it now owns 7.6% of the company (source: Interactive Brokers 2019 Q3 10-Q). (Xiaomi, the massive mobile device maker, was also an early investor and currently owns 12% of Tiger (source: Capital IQ).) Interactive Brokers’ discussion of its decision to invest in Tiger nicely illustrates Tiger’s strengths: in April 2019, it spoke of Tiger’s “huge potential” and “technological excellence,” and in June 2019 added: We recently invested in Tiger Brokers, which is one of our largest introducing broker customers. And we have found that, that is more effective because we don't usually find that somebody has better technology, but that they have, like in the case of Tiger, had a Chinese language mobile app that was impressive and that they had managed to crack that nut certainly more quickly than we would have been able to.Today, Tiger continues to crack the nut of mobile trading for a Chinese-speaking audience, hitting the “million-account milestone faster than any other online brokerage firm focusing on global Chinese investors,” according to the company. Though the business model remains fairly simple – revenue is dominated by commissions (55% of the total in the latest reported quarter) and net interest income, primarily derived from margin loans (20%), with expenses dominated by the cost of software engineers – Tiger has begun to expand into adjacent business lines, including IPO underwriting (helping its customers gain early access to newly US-listed Chinese companies) and the management of employee stock ownership plans (serving many of those same companies). To be sure, Tiger has competition, primarily from Futu, another up-andcoming China-focused low-cost online broker (currently valued at $15 billion). But with such a large and rapidly growing addressable market, competition hasn’t stopped Tiger from consistently winning new business.Tiger Has an Impressive Track Record of Growth As previously stated, Tiger’s total customer accounts began to exceed 1 million in the past few months – an impressive achievement after just a few years in operation, with limited marketing. But there’s an important wrinkle: due mainly to the frictions and restrictions involved in converting RMB into foreign currency, only a fraction of those accounts have actually been funded with deposits; total funded accounts stand at only 215,000 as of 9/30/2020. But this number too has been growing exponentially:The large gap between total accounts and funded accounts illustrates the huge latent demand for Tiger’s services: assuming users are opening accounts because they intend to eventually use them to trade – the process involves submitting official government identity documents and other personal information, so it’s unlikely to be done on a lark – Tiger has the potential to increase funded accounts by a factor of 4.5x just by converting existing customers, let alone attracting new ones.While the trading volume generated by funded accounts fluctuates based on sentiment, recent market returns, and other difficult-to-predict factors, aggregate quarterly trading volume has generally increased over time, from zero to $63 billion in the third quarter of 2020.We expect this strength in trading volume to persist into the fourth quarter and beyond. Interactive Brokers, for instance, recently reported that in the fourth quarter its DARTs (daily average revenue trades) increased 165% year-over-year. COVID-19-related market volatility, increased time spent at home, and strong recent returns have all combined to foster greater enthusiasm for trading across the world.Of course, given Tiger’s strategy of enticing customers with convenience and low cost, it takes a lot of trading volume to generate meaningful revenues; at an average commission rate of only 3 basis points, scale is essential. But Tiger has already proven that it can produce not only revenue but profit. Unlike many publicly traded start-ups that never seem to achieve operating leverage, Tiger has begun to generate consistent and growing profits even while continuing to invest in personnel and technology:Note: operating expenses for 2018 Q2 exclude $32.4 million in one-time share-based compensation expense in order to better illustrate the long-term trend.We believe that Tiger’s operating margin – already at 21% in the third quarter of 2020 – can continue to expand over time. The experience of the American online brokers illustrates the possibilities. Despite intense competition for customers (including bonuses for opening new accounts and constant pressure on fee levels), as well as the negative impact of low interest rates, in recent years both E*TRADE and TD Ameritrade managed to consistently produce ~40% operating margins on billions of dollars in revenue:Note: E*TRADE operating income for 2015 excludes $413 million pre-tax charge on the termination of legacy wholesale funding obligations.We see the same margin potential for Tiger because of the basic nature of the online brokerage business model: although creating reliable and user-friendly infrastructure for self-directed retail trading is difficult and costly, each incremental trade that flows through that infrastructure incurs little to no expenses (especially as Tigers shifts toward self-clearing). Increased revenue from increased trading can then drop straight to the bottom line – and if Tiger continues to succeed at reaching the huge, underserved market for global securities trading by Chinese investors, revenue will continue to increase.Tiger Is Tapping into a Massive and Fast-Growing Addressable Market While it’s become a cliché to wax poetic about the size of the Chinese market for various products and services, some clichés happen to be true, and the addressable market for Chinese securities trading truly is vast. At the most basic level, traders aim to put their money to work, and rapid economic growth means that the Chinese population has more and more money to deploy. According to Credit Suisse’s Global Wealth Report, China is now home to the second largest amount of aggregate household wealth in the world (after the United States), and average wealth per adult has increased exponentially over the past two decades:In fact, without making any heroic assumptions but simply by extrapolating from recent secular trends, we expect that total household wealth in China will exceed that in the US within the next 10 years, at which point household wealth in China will be more than $200 trillion – almost double what it is the US today:However, Chinese households have historically allocated their wealth quite differently from their American counterparts, investing heavily in real estate and, within the realm of financial assets, in simple bank deposits, not stocks and bonds. But that behavior is changing – a trend that has attracted much attention from observers of the global asset-management industry. Deloitte, for instance, recently estimated that by 2023 China’s “total addressable retail financial wealth is expected to reach US$30.2 trillion” – yet only a tenth of that is expected to be managed by local Chinese investment funds. The potential for Chinese households to rebalance their evergrowing portfolios into a wider range of financial assets is clearly vast, and there will be opportunities for many large players to carve out their own niches. Tiger is well positioned to be one of them, just as online discount brokers in the United States have created tens of billions of dollars of shareholder value even in the face of competition from more traditional brick-andmortar brokers – and each other. With a hundred-trillion-dollar market up for grabs, the runway for growth can extend a long way indeed.An additional tailwind for Tiger is that its initial brand focus on giving Chinese traders access to US stocks aligns well with Chinese investors’ long-term need to diversify globally. The local Shanghai and Shenzhen stock exchanges that have been by far the easiest for Chinese citizens to access contain just ~10% of global equities by market value; in contrast, the NYSE and Nasdaq contain nearly half. In the long run, Chinese investors, whether conservative indexers or aggressive speculators, won’t be content with exclusively local stocks; they will seek to broaden their portfolios globally, and Tiger will make it easy for them to do it.Conclusion What’s remarkable about Robinhood’s $20 billion value is not just that it was created in a short period of time; it’s also that it emerged within what appeared to be a mature, saturated market. E*TRADE was founded in 1982 and went public in 1996; the concept of low-cost, online stock trading was hardly a new one in 2015. Yet Robinhood proved that the amount of tradeable wealth in the hands of relatively young and tech-savvy Americans was large enough to accommodate a new $20-billion player. Given the rapid growth in China’s wealth and the more nascent state of its retail investing industry, the opportunity that lays before Tiger is, if anything, larger. In the old Disney animated movie, Robin Hood is a fox – but we think a tiger is even better.Full Legal Disclaimer As of the publication date of this report, Kerrisdale Capital Management LLC and its affiliates (collectively \"Kerrisdale\") have long positions in the stock of UP Fintech Holding Limited (“TIGR”). In addition, others that contributed research to this report and others that we have shared our research with (collectively with Kerrisdale, the “Authors”) likewise may have long positions in the stock of TIGR. The Authors stand to realize gains in the event that the price of the stock increases. Following publication of the report, the Authors may transact in the securities of the company covered herein. All content in this report represent the opinions of Kerrisdale. The Authors have obtained all information herein from sources they believe to be accurate and reliable. However, such information is presented “as is,” without warranty of any kind – whether express or implied. The Authors make no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results obtained from its use. All expressions of opinion are subject to change without notice, and the Authors do not undertake to update or supplement this report or any information contained herein. This report is not a recommendation to purchase the shares of any company, including TIGR, and is only a discussion of why Kerrisdale is long TIGR.This document is for informational purposes only and it is not intended as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. The information included in this document is based upon selected public market data and reflects prevailing conditions and the Authors’ views as of this date, all of which are accordingly subject to change. The Authors’ opinions and estimates constitute a best efforts judgment and should be regarded as indicative, preliminary and for illustrative purposes only.Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This report’s estimated fundamental value only represents a best efforts estimate of the potential fundamental valuation of a specific security, and is not expressed as, or implied as, assessments of the quality of a security, a summary of past performance, or an actionable investment strategy for an investor. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein or of any of the affiliates of the Authors. Also, this document does not in any way constitute an offer or solicitation of an offer to buy or sell any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction. To the best of the Authors’ abilities and beliefs, all information contained herein is accurate and reliable. The Authors reserve the rights for their affiliates, officers, and employees to hold cash or derivative positions in any company discussed in this document at any time. As of the original publication date of this document, investors should assume that the Authors are long shares of TIGR and stand to potentially realize gains in the event that the market valuation of the company’s common equity is higher than prior to the original publication date. These affiliates, officers, and individuals shall have no obligation to inform any investor or viewer of this report about their historical, current, and future trading activities. In addition, the Authors may benefit from any change in the valuation of any other companies, securities, or commodities discussed in this document. Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of the Authors’ operations and their affiliates. The compensation structure for the Authors’ analysts is generally a derivative of their effectiveness in generating and communicating new investment ideas and the performance of recommended strategies for the Authors. This could represent a potential conflict of interest in the statements and opinions in the Authors’ documents.The information contained in this document may include, or incorporate by reference, forwardlooking statements, which would include any statements that are not statements of historical fact. Any or all of the Authors’ forward-looking assumptions, expectations, projections, intentions or beliefs about future events may turn out to be wrong. These forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, most of which are beyond the Authors’ control. Investors should conduct independent due diligence, with assistance from professional financial, legal and tax experts, on all securities, companies, and commodities discussed in this document and develop a stand-alone judgment of the relevant markets prior to making any investment decision.","news_type":1,"symbols_score_info":{"TIGR":0.9}},"isVote":1,"tweetType":1,"viewCount":624,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}