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2023-03-16

Papa oaks

Credit Suisse Is In Crisis. What Went Wrong?

2024-01-23

Great ariticle, would you like to share it?

@Tiger_story:Bulls and Bears on Wall Street: A Chronological Odyssey of Market Swings

2023-03-15

Gigi Gigi bib

Wall Street Ends Green As Inflation Cools, Bank Jitters Ebb

2023-03-04

Hdudifjf

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2021-08-08

Oil

Saudi Aramco Q2 profit soars on higher prices, demand recovery

2021-07-05

Closed

Is the Stock Market Open or Closed on Independence Day?

2021-09-23

ahhhhhhh

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2021-07-06

Gosh

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2021-09-19

Why

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2021-08-27

…..

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Picture a vibrant Wall Street where market trends emulate the behaviors of two powerful animals: the bullish charge and the bearish retreat.A look at bear and bull markets through historyThe Bull Market: An 18th Century AscentIn the 18th century, traders discerned a correlation between rising markets and increased profits, birthing the term \"bull market.\" Bulls, with their upward-thrusting horns, became the symbol of the ascending surge in stock prices.Fast forward to the roaring twenties—a golden era for","listText":"Witness history! <a href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> hits record high, U.S. stock market officially enters bull market on last Friday.In the vivid tapestry of the stock market, the terms \"bull market\" and \"bear market\" trace their roots to a fascinating origin. 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Guess how will <a href=\"https://ttm.financial/S/NFLX\">$Netflix(NFLX)$</a> close Wednesday 24/01 following their earnings?? If you get the correct answer, you may divide 1000 Tiger Coins with other Tigers.<a href=\"https://ttm.financial/S/NFLX\">$Netflix(NFLX)$</a> will post its fourth quarter 2023 financial results and business outlook post-market on Tuesday, January 23, 2024. Netflix's Q4 revenue is expected to be $8.698 billion, with an adjusted net profit of $988.462 million and an adjusted EPS of $2.195, according to Bloomberg's consensus expectation.&nbsp;For more information about Netflix Earnings Preview, please click <a href=\"https://ttm.financial/NW/1175121625\" target=\"_blank\">Netflix Earnings Preview: A Strong Subscriber Increase in 4Q; Ad-Based Plan Bring Dividends&lt;</a>","listText":"Click to vote. Guess how will <a href=\"https://ttm.financial/S/NFLX\">$Netflix(NFLX)$</a> close Wednesday 24/01 following their earnings?? If you get the correct answer, you may divide 1000 Tiger Coins with other Tigers.<a href=\"https://ttm.financial/S/NFLX\">$Netflix(NFLX)$</a> will post its fourth quarter 2023 financial results and business outlook post-market on Tuesday, January 23, 2024. Netflix's Q4 revenue is expected to be $8.698 billion, with an adjusted net profit of $988.462 million and an adjusted EPS of $2.195, according to Bloomberg's consensus expectation.&nbsp;For more information about Netflix Earnings Preview, please click <a href=\"https://ttm.financial/NW/1175121625\" target=\"_blank\">Netflix Earnings Preview: A Strong Subscriber Increase in 4Q; Ad-Based Plan Bring Dividends&lt;</a>","text":"Click to vote. Guess how will $Netflix(NFLX)$ close Wednesday 24/01 following their earnings?? If you get the correct answer, you may divide 1000 Tiger Coins with other Tigers.$Netflix(NFLX)$ will post its fourth quarter 2023 financial results and business outlook post-market on Tuesday, January 23, 2024. Netflix's Q4 revenue is expected to be $8.698 billion, with an adjusted net profit of $988.462 million and an adjusted EPS of $2.195, according to Bloomberg's consensus expectation. For more information about Netflix Earnings Preview, please click Netflix Earnings Preview: A Strong Subscriber Increase in 4Q; Ad-Based Plan Bring Dividends<","images":[{"img":"https://community-static.tradeup.com/news/0a7b175dbea797a0033f5eb891a9c2ee","width":"1080","height":"1454"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/265862960349320","isVote":2,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"vote":{"id":3069,"gmtBegin":1705928679411,"gmtEnd":1706040000465,"type":1,"upper":1,"title":"How will Netflix close Wednesday 24/01 following their earnings?","choices":[{"id":11313,"sort":1,"name":"Very Green (over 10%)","userSize":21,"voted":false},{"id":11314,"sort":2,"name":"Green (5% to 10%)","userSize":78,"voted":false},{"id":11315,"sort":3,"name":"Flat (-5% to 5%)","userSize":82,"voted":false},{"id":11316,"sort":4,"name":"Red (-10% to-5%)","userSize":13,"voted":false},{"id":11317,"sort":5,"name":"Very Red (below-10%)","userSize":6,"voted":false}]},"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":266035029663840,"gmtCreate":1705970480526,"gmtModify":1705970484752,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"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/266035029663840","repostId":"265385931366480","repostType":1,"repost":{"id":265385931366480,"gmtCreate":1705815677809,"gmtModify":1705877402611,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559581955535845","idStr":"3559581955535845"},"themes":[],"title":"Coinbase is down!  Is it time to buy Coinbase? ","htmlText":"🌟🌟🌟<a href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$&nbsp;</a><v-v data-views=\"0\"></v-v> is down 8.8% in the past 5 days in the aftermath of Bitcoin ETFs approval by SEC.&nbsp; After a phenomenal year in 2023 in which Coinbase jumped a whopping 391%, Coinbase is now down 20% since the start of 2024. It could be the case of Buy the Rumour, Sell the News.&nbsp; There was much hype and excitement prior to the Bitcoin approval that drovr Coinbase and other crypto stocks like&nbsp;<a href=\"https://ttm.financial/S/MARA\">$Marathon Digital Holdings Inc(MARA)$ </a>&nbsp;<a href=\"https://ttm.financial/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$ </a> which went up like a rocket to the moon. Bitcoin surged past USD 45,000 but has since dropped to USD 41,621.62 currently. The fortune of Co","listText":"🌟🌟🌟<a href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$&nbsp;</a><v-v data-views=\"0\"></v-v> is down 8.8% in the past 5 days in the aftermath of Bitcoin ETFs approval by SEC.&nbsp; After a phenomenal year in 2023 in which Coinbase jumped a whopping 391%, Coinbase is now down 20% since the start of 2024. It could be the case of Buy the Rumour, Sell the News.&nbsp; There was much hype and excitement prior to the Bitcoin approval that drovr Coinbase and other crypto stocks like&nbsp;<a href=\"https://ttm.financial/S/MARA\">$Marathon Digital Holdings Inc(MARA)$ </a>&nbsp;<a href=\"https://ttm.financial/S/RIOT\">$Riot Blockchain, Inc.(RIOT)$ </a> which went up like a rocket to the moon. Bitcoin surged past USD 45,000 but has since dropped to USD 41,621.62 currently. The fortune of Co","text":"🌟🌟🌟$Coinbase Global, Inc.(COIN)$ is down 8.8% in the past 5 days in the aftermath of Bitcoin ETFs approval by SEC. After a phenomenal year in 2023 in which Coinbase jumped a whopping 391%, Coinbase is now down 20% since the start of 2024. It could be the case of Buy the Rumour, Sell the News. There was much hype and excitement prior to the Bitcoin approval that drovr Coinbase and other crypto stocks like $Marathon Digital Holdings Inc(MARA)$ $Riot Blockchain, Inc.(RIOT)$ which went up like a rocket to the moon. Bitcoin surged past USD 45,000 but has since dropped to USD 41,621.62 currently. The fortune of Co","images":[{"img":"https://community-static.tradeup.com/news/35c07c3d5a6a0d3fd16ad854e7ce3189","width":"1080","height":"2340"},{"img":"https://community-static.tradeup.com/news/af98dcd6fce445ec19fe2d0afda577cb","width":"1080","height":"2340"},{"img":"https://community-static.tradeup.com/news/34e12129f2f84a0fae0f2affc2fcb05e","width":"1080","height":"2340"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/265385931366480","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":3,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3094,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":266035298238616,"gmtCreate":1705970457900,"gmtModify":1705970462374,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Gvvvh Hvvjouy Ojnnfhkj","listText":"Gvvvh Hvvjouy Ojnnfhkj","text":"Gvvvh Hvvjouy Ojnnfhkj","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/266035298238616","isVote":1,"tweetType":1,"viewCount":3364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949756355,"gmtCreate":1678923014778,"gmtModify":1678923019033,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Papa oaks","listText":"Papa oaks","text":"Papa oaks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":21,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949756355","repostId":"1178433847","repostType":2,"repost":{"id":"1178433847","kind":"news","pubTimestamp":1678922002,"share":"https://ttm.financial/m/news/1178433847?lang=en_US&edition=fundamental","pubTime":"2023-03-16 07:13","market":"us","language":"en","title":"Credit Suisse Is In Crisis. What Went Wrong?","url":"https://stock-news.laohu8.com/highlight/detail?id=1178433847","media":"Bloomberg","summary":"Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discreti","content":"<div>\n<p>Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discretion and dull reliability. That only makes the scandals, public legal battles and mounting losses at ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse Is In Crisis. What Went Wrong?</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\">\nCredit Suisse Is In Crisis. What Went Wrong?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-16 07:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discretion and dull reliability. That only makes the scandals, public legal battles and mounting losses at ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling\">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.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178433847","content_text":"Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discretion and dull reliability. That only makes the scandals, public legal battles and mounting losses at Credit Suisse Group AG more striking and hard to comprehend. In mid-March, unease about the bank’s mounting problems snowballed and its shares slumped, forcing management to appeal to Swiss banking authorities for a public vote of confidence.1. What went wrong?Credit Suisse’s failings have included a criminal conviction for allowing drug dealers to launder money in Bulgaria, entanglement in a Mozambique corruption case, a spying scandal involving a former employee and an executive and a massive leak of client data to the media. Its association with disgraced financier Lex Greensill and failed New York-based investment firm Archegos Capital Management compounded the sense of an institution that didn’t have a firm grip on its affairs. Many fed up clients have voted with their feet, leading to unprecedented client outflows in late 2022.2. What triggered the latest share slump?Chief Executive Officer Ulrich Koerner launched a massive outreach to woo back nervous clients and their cash. The effort appeared to be paying off by January, with it reported “net positive” deposits. However, on March 9, the US Securities and Exchange Commission queried the bank’s annual report, forcing it to delay its publication. Panic spread after regional US lender Silicon Valley Bank failed, the victim in part of risky investments and rising global interest rates that eroded the value of its bond holdings. Investors began ditching anything that smelled of banking risk and deposit flight.3. How bad did the situation get?On March 15, Credit Suisse stock slumped anew when the chairman of its largest shareholder, Saudi National Bank, ruled out investing any more in the company. This prompted Credit Suisse to ask the Swiss central bank for a public statement of support. The cost of insuring the bank’s bonds against default for one year surged to levels not seen for major international banks since the financial crisis of 2008. As other banks sought to hedge their counterparty risk for transactions with Credit Suisse, quoted prices for a one-year credit default swap jumped from 836 basis points, indicating a probability of defaulting of 10%, on March 14 to higher than 3,000 basis points. Few actual trades were executed, however, as liquidity in the market dried up. In another sign of stress, Credit Suisse’s additional tier 1 bonds — which are subordinate to all other ranks of debt and may be written down if capital falls below a predetermined level — were trading below 80% of face value, a level typically signaling distress. Even bonds coming due in April traded at prices well below face value.4. Is this another Lehman Brothers moment?The Wall Street giant, whose failure in 2008 triggered the global financial crisis, succumbed when funding dried up and other banks stopped dealing with it. Unlike Lehman and SVB, Credit Suisse has substantial liquid assets to call upon and access to central bank lending facilities and is less sensitive than many rivals to sharp moves in interest rates. It has rebuilt its cushion against more deposit withdrawals since the worst wave of outflows in October. It also has enough money-like liquid assets to pay back half of all its liabilities in deposits and loans from other banks, according to Bloomberg Opinion banking columnist Paul J. Davies. Koerner said the firm’s liquidity coverage ratio showed it can handle over a month of heavy outflows in a period of stress.5. What else is Koerner doing to turn things around?His three-year recovery plan involves 9,000 job cuts, dismantling the investment banking behemoth assembled over five decades and returning Credit Suisse to its origins as banker to the world’s ultra-wealthy. That means spinning off First Boston, an American investment bank it acquired in 1990 with a view to listing it in 2025, and selling parts of its securitized products unit to Apollo Global Management Inc. That process is now at risk of becoming bogged down in a broader financial-sector selloff following the collapse of SVB and two other US banks.","news_type":1,"symbols_score_info":{"CS":0.9}},"isVote":1,"tweetType":1,"viewCount":3630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949423410,"gmtCreate":1678839980531,"gmtModify":1678839985173,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Gigi Gigi bib","listText":"Gigi Gigi bib","text":"Gigi Gigi bib","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9949423410","repostId":"1109251500","repostType":2,"repost":{"id":"1109251500","kind":"news","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":1678835043,"share":"https://ttm.financial/m/news/1109251500?lang=en_US&edition=fundamental","pubTime":"2023-03-15 07:04","market":"us","language":"en","title":"Wall Street Ends Green As Inflation Cools, Bank Jitters Ebb","url":"https://stock-news.laohu8.com/highlight/detail?id=1109251500","media":"Reuters","summary":"(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitte","content":"<html><head></head><body><p>(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve&#39;s policy meeting next week.</p><p>All three major U.S. stock indexes closed sharply higher, with the S&amp;P 500 and the Dow gaining more than 1% and the tech-heavy Nasdaq surging more than 2%, after several sessions of risk-off turmoil driven by the fallout surrounding the implosion of Silicon Valley Bank and Signature Bank.</p><p>Financial stocks clawed back some losses, with the S&amp;P 500 Banks index coming back from its steepest one-day sell-off since June 2020.</p><p>The KBW Regional Banking index rose 2.1%.</p><p>Bank contagion fears were allayed on Tuesday as U.S. President Joe Biden and other global policymakers vowed the crisis would be contained.</p><p>&#34;The market is having an opportunity to digest some of the news over the last couple of days,&#34; said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. &#34;(Investors) are seeing a coordinated effort with various government agencies, and with hindsight, they’re feeling as if things have contained themselves a bit.&#34;</p><p>The Labor Department&#39;s CPI report showed consumer prices cooled in February, largely in line with market expectations, with headline and core measures notching welcome annual declines.</p><p>Even so, inflation has a considerable way to go before approaching the central bank&#39;s average annual 2% target.</p><p>But signs of economic softness, combined with the regional banking scare, have increased the odds that the Federal Reserve will implement a modest, 25 basis-point hike to its key interest rate at the conclusion of its two-day policy meeting on March 22.</p><p>Financial markets have now priced in a 74.5% likelihood that the central bank will raise the Fed funds target rate by an additional 25 basis points at the conclusion of its two-day monetary meeting later this month, with a growing minority - 25.5% - seeing the potential of no rate hike at all, according to CME&#39;s FedWatch tool.</p><p>&#34;Part of the stabilization today is folks feeling as if the Fed might back off from some of the hawkish expectations that followed Chairman Powell&#39;s comments last week,&#34; Keator added.</p><p>&#34;If the Fed isn&#39;t careful, they could create some unintended shocks to the system,&#34; he said.</p><p>Shock waves following the closure of Silicon Valley Bank and Signature Bank, which prompted Biden to vow he would contain the crisis and ensure the safety of the U.S. banking system, continued to reverberate throughout the sector.</p><p>The S&amp;P 500 banking index reclaimed territory, rising 2.6% after Monday&#39;s plunge, its biggest one-day drop since June 2020.</p><p>The Dow Jones Industrial Average rose 336.26 points, or 1.06%, to 32,155.4, the S&amp;P 500 gained 64.8 points, or 1.68%, to 3,920.56 and the Nasdaq Composite added 239.31 points, or 2.14%, to 11,428.15.</p><p>All 11 major sectors in the S&amp;P 500 ended the trading day higher, with communication services enjoying the largest percentage advance.</p><p>Shares of First Republic Bank and Western Alliance Bancorp surged by 27.0% and 14.4%, respectively, in a reversal of the previous session&#39;s rout.</p><p>Meta Platforms Inc announced 10,000 job cuts in its second round of layoffs. Its stock advanced 7.3%.</p><p>Ride-hailing app rivals Uber Technologies Inc and Lyft Inc rose 5.0% and 0.6%, respectively, after a California state court revived a ballot measure allowing the companies to treat drivers as independent contractors rather than employees.</p><p>United Airlines Holdings Inc fell 5.4% after the commercial carrier unexpectedly forecast a current quarter loss.</p><p>AMC Entertainment Holdings slid 15.0% between multiple trading halts after its shareholders voted in favor of converting preferred stock into common shares.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.60-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 3 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 23 new highs and 195 new lows.</p><p>Volume on U.S. exchanges was 13.84 billion shares, compared with the 11.64 billion average over the last 20 trading days.</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>Wall Street Ends Green As Inflation Cools, Bank Jitters Ebb</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; 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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\">\nWall Street Ends Green As Inflation Cools, Bank Jitters Ebb\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\">2023-03-15 07:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve&#39;s policy meeting next week.</p><p>All three major U.S. stock indexes closed sharply higher, with the S&amp;P 500 and the Dow gaining more than 1% and the tech-heavy Nasdaq surging more than 2%, after several sessions of risk-off turmoil driven by the fallout surrounding the implosion of Silicon Valley Bank and Signature Bank.</p><p>Financial stocks clawed back some losses, with the S&amp;P 500 Banks index coming back from its steepest one-day sell-off since June 2020.</p><p>The KBW Regional Banking index rose 2.1%.</p><p>Bank contagion fears were allayed on Tuesday as U.S. President Joe Biden and other global policymakers vowed the crisis would be contained.</p><p>&#34;The market is having an opportunity to digest some of the news over the last couple of days,&#34; said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. &#34;(Investors) are seeing a coordinated effort with various government agencies, and with hindsight, they’re feeling as if things have contained themselves a bit.&#34;</p><p>The Labor Department&#39;s CPI report showed consumer prices cooled in February, largely in line with market expectations, with headline and core measures notching welcome annual declines.</p><p>Even so, inflation has a considerable way to go before approaching the central bank&#39;s average annual 2% target.</p><p>But signs of economic softness, combined with the regional banking scare, have increased the odds that the Federal Reserve will implement a modest, 25 basis-point hike to its key interest rate at the conclusion of its two-day policy meeting on March 22.</p><p>Financial markets have now priced in a 74.5% likelihood that the central bank will raise the Fed funds target rate by an additional 25 basis points at the conclusion of its two-day monetary meeting later this month, with a growing minority - 25.5% - seeing the potential of no rate hike at all, according to CME&#39;s FedWatch tool.</p><p>&#34;Part of the stabilization today is folks feeling as if the Fed might back off from some of the hawkish expectations that followed Chairman Powell&#39;s comments last week,&#34; Keator added.</p><p>&#34;If the Fed isn&#39;t careful, they could create some unintended shocks to the system,&#34; he said.</p><p>Shock waves following the closure of Silicon Valley Bank and Signature Bank, which prompted Biden to vow he would contain the crisis and ensure the safety of the U.S. banking system, continued to reverberate throughout the sector.</p><p>The S&amp;P 500 banking index reclaimed territory, rising 2.6% after Monday&#39;s plunge, its biggest one-day drop since June 2020.</p><p>The Dow Jones Industrial Average rose 336.26 points, or 1.06%, to 32,155.4, the S&amp;P 500 gained 64.8 points, or 1.68%, to 3,920.56 and the Nasdaq Composite added 239.31 points, or 2.14%, to 11,428.15.</p><p>All 11 major sectors in the S&amp;P 500 ended the trading day higher, with communication services enjoying the largest percentage advance.</p><p>Shares of First Republic Bank and Western Alliance Bancorp surged by 27.0% and 14.4%, respectively, in a reversal of the previous session&#39;s rout.</p><p>Meta Platforms Inc announced 10,000 job cuts in its second round of layoffs. Its stock advanced 7.3%.</p><p>Ride-hailing app rivals Uber Technologies Inc and Lyft Inc rose 5.0% and 0.6%, respectively, after a California state court revived a ballot measure allowing the companies to treat drivers as independent contractors rather than employees.</p><p>United Airlines Holdings Inc fell 5.4% after the commercial carrier unexpectedly forecast a current quarter loss.</p><p>AMC Entertainment Holdings slid 15.0% between multiple trading halts after its shareholders voted in favor of converting preferred stock into common shares.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.60-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 3 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 23 new highs and 195 new lows.</p><p>Volume on U.S. exchanges was 13.84 billion shares, compared with the 11.64 billion average over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109251500","content_text":"(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve's policy meeting next week.All three major U.S. stock indexes closed sharply higher, with the S&P 500 and the Dow gaining more than 1% and the tech-heavy Nasdaq surging more than 2%, after several sessions of risk-off turmoil driven by the fallout surrounding the implosion of Silicon Valley Bank and Signature Bank.Financial stocks clawed back some losses, with the S&P 500 Banks index coming back from its steepest one-day sell-off since June 2020.The KBW Regional Banking index rose 2.1%.Bank contagion fears were allayed on Tuesday as U.S. President Joe Biden and other global policymakers vowed the crisis would be contained.\"The market is having an opportunity to digest some of the news over the last couple of days,\" said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. \"(Investors) are seeing a coordinated effort with various government agencies, and with hindsight, they’re feeling as if things have contained themselves a bit.\"The Labor Department's CPI report showed consumer prices cooled in February, largely in line with market expectations, with headline and core measures notching welcome annual declines.Even so, inflation has a considerable way to go before approaching the central bank's average annual 2% target.But signs of economic softness, combined with the regional banking scare, have increased the odds that the Federal Reserve will implement a modest, 25 basis-point hike to its key interest rate at the conclusion of its two-day policy meeting on March 22.Financial markets have now priced in a 74.5% likelihood that the central bank will raise the Fed funds target rate by an additional 25 basis points at the conclusion of its two-day monetary meeting later this month, with a growing minority - 25.5% - seeing the potential of no rate hike at all, according to CME's FedWatch tool.\"Part of the stabilization today is folks feeling as if the Fed might back off from some of the hawkish expectations that followed Chairman Powell's comments last week,\" Keator added.\"If the Fed isn't careful, they could create some unintended shocks to the system,\" he said.Shock waves following the closure of Silicon Valley Bank and Signature Bank, which prompted Biden to vow he would contain the crisis and ensure the safety of the U.S. banking system, continued to reverberate throughout the sector.The S&P 500 banking index reclaimed territory, rising 2.6% after Monday's plunge, its biggest one-day drop since June 2020.The Dow Jones Industrial Average rose 336.26 points, or 1.06%, to 32,155.4, the S&P 500 gained 64.8 points, or 1.68%, to 3,920.56 and the Nasdaq Composite added 239.31 points, or 2.14%, to 11,428.15.All 11 major sectors in the S&P 500 ended the trading day higher, with communication services enjoying the largest percentage advance.Shares of First Republic Bank and Western Alliance Bancorp surged by 27.0% and 14.4%, respectively, in a reversal of the previous session's rout.Meta Platforms Inc announced 10,000 job cuts in its second round of layoffs. Its stock advanced 7.3%.Ride-hailing app rivals Uber Technologies Inc and Lyft Inc rose 5.0% and 0.6%, respectively, after a California state court revived a ballot measure allowing the companies to treat drivers as independent contractors rather than employees.United Airlines Holdings Inc fell 5.4% after the commercial carrier unexpectedly forecast a current quarter loss.AMC Entertainment Holdings slid 15.0% between multiple trading halts after its shareholders voted in favor of converting preferred stock into common shares.Advancing issues outnumbered declining ones on the NYSE by a 2.60-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored advancers.The S&P 500 posted 3 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 23 new highs and 195 new lows.Volume on U.S. exchanges was 13.84 billion shares, compared with the 11.64 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940294279,"gmtCreate":1677922847592,"gmtModify":1677922851031,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FSLY\">$Fastly, Inc.(FSLY)$&nbsp;</a>Ugguuvvuivibvi","listText":"<a href=\"https://ttm.financial/S/FSLY\">$Fastly, Inc.(FSLY)$&nbsp;</a>Ugguuvvuivibvi","text":"$Fastly, Inc.(FSLY)$ Ugguuvvuivibvi","images":[{"img":"https://community-static.tradeup.com/news/3e6f8116f25a7cba3d917f39fe584228","width":"750","height":"1640"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940294279","isVote":1,"tweetType":1,"viewCount":2852,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9940641074,"gmtCreate":1677895634598,"gmtModify":1677895639241,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Hdudifjf","listText":"Hdudifjf","text":"Hdudifjf","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":15,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940641074","repostId":"1124571052","repostType":4,"isVote":1,"tweetType":1,"viewCount":2825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940834747,"gmtCreate":1677804340190,"gmtModify":1677804344130,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Igboonivvivo","listText":"Igboonivvivo","text":"Igboonivvivo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940834747","repostId":"2316998348","repostType":4,"repost":{"id":"2316998348","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":1677799976,"share":"https://ttm.financial/m/news/2316998348?lang=en_US&edition=fundamental","pubTime":"2023-03-03 07:32","market":"us","language":"en","title":"Broadcom Stock Moves Higher After Earnings, Forecast Beat","url":"https://stock-news.laohu8.com/highlight/detail?id=2316998348","media":"Dow Jones","summary":"Broadcom Inc. continued to produce better results and forecast better near-term sales than Wall Stre","content":"<html><head></head><body><p>Broadcom Inc. continued to produce better results and forecast better near-term sales than Wall Street expects without providing guidance for the long term Thursday, and shares rose in extended trading.</p><p>Broadcom <a href=\"https://laohu8.com/S/AVGO\">$(AVGO)$</a> reported fiscal first-quarter earnings of $3.77 billion, or $8.80 a share, on sales of $8.91 billion, up from $7.71 billion a year ago. After adjusting for stock-based compensation and other costs, Broadcom reported earnings of $10.33 a share, up from $8.39 a share in the same quarter last year.</p><p>Analysts on average were expecting adjusted earnings of $10.17 a share on revenue of $8.9 billion, according to FactSet. Shares rose more than 1% in after-hours trading immediately following the release of the results, after a 0.9% in the regular session to close at $598.65.</p><p>Broadcom&#39;s stock has held up better than others in the semiconductor sector, which has been bedeviled by a shortage of chips suddenly turning into a glut in the past year. Broadcom showed that it was not immune to those issues in its last quarterly report, though, as the San Jose, Calif.-based chip maker reported a limited outlook and refused to comment on the rest of the year or update analysts on its product backlog.</p><p>Broadcom &#34;is not immune from cyclical headwinds,&#34; Raymond James analysts cautioned in initiating coverage of semiconductor companies this week. &#34;In particular, it has 30% exposure to enterprise (including semis and software) and 20% to wireless (mostly Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>), where we see potential demand slowdown. Upside appears modest, even in a soft-landing scenario.&#34;</p><p>In Thursday&#39;s report, Broadcom guided for second-quarter revenue of roughly $8.7 billion, while analysts on average were expecting $8.58 billion, according to FactSet. Executives again avoided a full annual forecast, with Chief Executive Hock Tan sticking with his approach of just projecting &#34;growth.&#34;</p><p>&#34;Broadcom&#39;s first quarter performance reflects continued strength in infrastructure demand across all our end markets,&#34; Tan said in a statement. &#34;Looking ahead, we are confident our growth will be driven by sustained leadership in next generation technologies across all of our core markets, and strong partnerships with our customers.&#34;</p><p>Tan&#39;s yearslong attempt to diversify the company beyond semiconductors has helped avoid the doldrums of the chip sector in this time. Broadcom also sells networking equipment and enterprise-scale storage systems, along with a software division formed through the acquisitions of CA Inc and Symantec, with VMware Inc. <a href=\"https://laohu8.com/S/VMW\">$(VMW)$</a>expected to join by October.</p><p>Broadcom&#39;s chip division -- which includes the networking and storage businesses -- is its largest, reporting $7.11 billion in sales for the fiscal first quarter Thursday, up from $5.87 billion a year ago and beating the average analyst estimate of $7.01 billion, according to FactSet. The software business reported sales of $1.81 billion, down from $1.83 billion a year ago and missing the average analyst estimate of $1.85 billion, per FactSet.</p><p>Broadcom shares have gained 1.9% in the past 2 months, as the S&amp;P 500 index  has dropped 9.9% and the PHLX Semiconductor index has declined 12.4%.</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>Broadcom Stock Moves Higher After Earnings, Forecast Beat</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\">\nBroadcom Stock Moves Higher After Earnings, Forecast Beat\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\">2023-03-03 07:32</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Broadcom Inc. continued to produce better results and forecast better near-term sales than Wall Street expects without providing guidance for the long term Thursday, and shares rose in extended trading.</p><p>Broadcom <a href=\"https://laohu8.com/S/AVGO\">$(AVGO)$</a> reported fiscal first-quarter earnings of $3.77 billion, or $8.80 a share, on sales of $8.91 billion, up from $7.71 billion a year ago. After adjusting for stock-based compensation and other costs, Broadcom reported earnings of $10.33 a share, up from $8.39 a share in the same quarter last year.</p><p>Analysts on average were expecting adjusted earnings of $10.17 a share on revenue of $8.9 billion, according to FactSet. Shares rose more than 1% in after-hours trading immediately following the release of the results, after a 0.9% in the regular session to close at $598.65.</p><p>Broadcom&#39;s stock has held up better than others in the semiconductor sector, which has been bedeviled by a shortage of chips suddenly turning into a glut in the past year. Broadcom showed that it was not immune to those issues in its last quarterly report, though, as the San Jose, Calif.-based chip maker reported a limited outlook and refused to comment on the rest of the year or update analysts on its product backlog.</p><p>Broadcom &#34;is not immune from cyclical headwinds,&#34; Raymond James analysts cautioned in initiating coverage of semiconductor companies this week. &#34;In particular, it has 30% exposure to enterprise (including semis and software) and 20% to wireless (mostly Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>), where we see potential demand slowdown. Upside appears modest, even in a soft-landing scenario.&#34;</p><p>In Thursday&#39;s report, Broadcom guided for second-quarter revenue of roughly $8.7 billion, while analysts on average were expecting $8.58 billion, according to FactSet. Executives again avoided a full annual forecast, with Chief Executive Hock Tan sticking with his approach of just projecting &#34;growth.&#34;</p><p>&#34;Broadcom&#39;s first quarter performance reflects continued strength in infrastructure demand across all our end markets,&#34; Tan said in a statement. &#34;Looking ahead, we are confident our growth will be driven by sustained leadership in next generation technologies across all of our core markets, and strong partnerships with our customers.&#34;</p><p>Tan&#39;s yearslong attempt to diversify the company beyond semiconductors has helped avoid the doldrums of the chip sector in this time. Broadcom also sells networking equipment and enterprise-scale storage systems, along with a software division formed through the acquisitions of CA Inc and Symantec, with VMware Inc. <a href=\"https://laohu8.com/S/VMW\">$(VMW)$</a>expected to join by October.</p><p>Broadcom&#39;s chip division -- which includes the networking and storage businesses -- is its largest, reporting $7.11 billion in sales for the fiscal first quarter Thursday, up from $5.87 billion a year ago and beating the average analyst estimate of $7.01 billion, according to FactSet. The software business reported sales of $1.81 billion, down from $1.83 billion a year ago and missing the average analyst estimate of $1.85 billion, per FactSet.</p><p>Broadcom shares have gained 1.9% in the past 2 months, as the S&amp;P 500 index  has dropped 9.9% and the PHLX Semiconductor index has declined 12.4%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2316998348","content_text":"Broadcom Inc. continued to produce better results and forecast better near-term sales than Wall Street expects without providing guidance for the long term Thursday, and shares rose in extended trading.Broadcom $(AVGO)$ reported fiscal first-quarter earnings of $3.77 billion, or $8.80 a share, on sales of $8.91 billion, up from $7.71 billion a year ago. After adjusting for stock-based compensation and other costs, Broadcom reported earnings of $10.33 a share, up from $8.39 a share in the same quarter last year.Analysts on average were expecting adjusted earnings of $10.17 a share on revenue of $8.9 billion, according to FactSet. Shares rose more than 1% in after-hours trading immediately following the release of the results, after a 0.9% in the regular session to close at $598.65.Broadcom's stock has held up better than others in the semiconductor sector, which has been bedeviled by a shortage of chips suddenly turning into a glut in the past year. Broadcom showed that it was not immune to those issues in its last quarterly report, though, as the San Jose, Calif.-based chip maker reported a limited outlook and refused to comment on the rest of the year or update analysts on its product backlog.Broadcom \"is not immune from cyclical headwinds,\" Raymond James analysts cautioned in initiating coverage of semiconductor companies this week. \"In particular, it has 30% exposure to enterprise (including semis and software) and 20% to wireless (mostly Apple $(AAPL)$), where we see potential demand slowdown. Upside appears modest, even in a soft-landing scenario.\"In Thursday's report, Broadcom guided for second-quarter revenue of roughly $8.7 billion, while analysts on average were expecting $8.58 billion, according to FactSet. Executives again avoided a full annual forecast, with Chief Executive Hock Tan sticking with his approach of just projecting \"growth.\"\"Broadcom's first quarter performance reflects continued strength in infrastructure demand across all our end markets,\" Tan said in a statement. \"Looking ahead, we are confident our growth will be driven by sustained leadership in next generation technologies across all of our core markets, and strong partnerships with our customers.\"Tan's yearslong attempt to diversify the company beyond semiconductors has helped avoid the doldrums of the chip sector in this time. Broadcom also sells networking equipment and enterprise-scale storage systems, along with a software division formed through the acquisitions of CA Inc and Symantec, with VMware Inc. $(VMW)$expected to join by October.Broadcom's chip division -- which includes the networking and storage businesses -- is its largest, reporting $7.11 billion in sales for the fiscal first quarter Thursday, up from $5.87 billion a year ago and beating the average analyst estimate of $7.01 billion, according to FactSet. The software business reported sales of $1.81 billion, down from $1.83 billion a year ago and missing the average analyst estimate of $1.85 billion, per FactSet.Broadcom shares have gained 1.9% in the past 2 months, as the S&P 500 index  has dropped 9.9% and the PHLX Semiconductor index has declined 12.4%.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954758696,"gmtCreate":1676673624815,"gmtModify":1676673628819,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Ugg gig","listText":"Ugg gig","text":"Ugg gig","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954758696","repostId":"1184653577","repostType":4,"repost":{"id":"1184653577","kind":"news","pubTimestamp":1676645670,"share":"https://ttm.financial/m/news/1184653577?lang=en_US&edition=fundamental","pubTime":"2023-02-17 22:54","market":"us","language":"en","title":"Top Calls on Wall Street: DraftKings, Virgin Galactic, Coinbase and More","url":"https://stock-news.laohu8.com/highlight/detail?id=1184653577","media":"TheFly","summary":"Top 5 Upgrades:BofA upgraded Roku (ROKU) to Buy from Underperform with a price target of $85, up fro","content":"<html><head></head><body><h2><b>Top 5 Upgrades:</b></h2><ul><li>BofA upgraded <b>Roku</b> (ROKU) to Buy from Underperform with a price target of $85, up from $45. The company is performing better than the broader advertising market, which remains weak, as ad spending across some verticals is bottoming out, the analyst tells investors.</li><li>Citi upgraded <b>TechnipFMC</b> (FTI) to Buy from Neutral with an $18 price target after taking over coverage of the name. The company&#39;s pricing leverage is improving given a consolidating sector and success of its integrated model and standardization strategy, the analyst tells investors.</li><li>BTIG upgraded <b>DraftKings</b> (DKNG) to Buy from Neutral with a $24 price target. A divergence in player adoption and marketing cost trends has driven upside versus EBITDA expectations for DraftKings throughout 2022, and this pattern will persist in 2023, the analyst said.</li><li>Wolfe Research upgraded <b>Virgin Galactic</b> (SPCE) to Peer Perform from Underperform without a price target. With WhiteKightTwo&#39;s return to flight, Virgin Galactic shares will &#34;likely link to a positive event path&#34; through June, the analyst tells investors.</li><li>Compass Point upgraded <b>Coinbase</b> (COIN) to Buy from Neutral with a price target of $100, up from $75, after updating estimates ahead of the company&#39;s Q4 earnings report due on February 21. The firm believes Coinbase is well positioned to gain market share when the crypto bull market returns.</li></ul><h2><b>Top 5 Downgrades:</b></h2><ul><li>Evercore ISI downgraded <b>Canada Goose</b> (GOOS) to In Line from Outperform with a price target of $20, down from $25. The analyst views the company&#39;s new long-term financial targets, which promise to nearly triple sales to $3B in five years while taking EBIT margin from 19% currently to 30%, as &#34;needlessly aggressive.&#34;</li><li>Raymond James downgraded<b> Axon</b> (AXON) to Outperform from Strong Buy with a $223 price target. Shares are up 130% from their lows in May 2022, and while execution has been nearly flawless during this period, the inevitability of mean reversion, decelerating growth off of a larger base and less room for multiple expansion leave the firm searching for a near-term positive catalyst.</li><li>Stifel downgraded <b>Texas Roadhouse</b> (TXRH) to Hold from Buy with a price target of $105, down from $110. The analyst remains confident in the company&#39;s 2023 sales outlook and long-term unit growth prospects, but is less confident there is meaningful upside to its 2023 earnings per share estimate.</li><li>B. Riley downgraded <b>Universal Electronics</b> (UEIC) to Neutral from Buy with a price target of $22, down from $29, following the Q4 miss. The company&#39;s legacy home entertainment segment has substantially accelerated the pace of decline, thereby deferring the growing home automation, security and hospitality segment&#39;s ability to begin to offset that decline, the analyst tells investors. The stock was also downgraded to Neutral from Buy at Rosenblatt.</li><li>Credit Suisse downgraded <b>XP Inc.</b> (XP) to Underperform from Neutral with a price target of $15, down from $27, after the company&#39;s Q4 results missed expectations. The analyst believes it is time for a shift in strategy at the company, saying the results are &#34;very negative&#34; for shares given the large earnings decline.</li></ul><h2><b>Top 5 Initiations:</b></h2><ul><li>Citi initiated coverage of <b>Kimberly-Clark</b> (KMB) with a Sell rating and $120 price target. The analyst forecasts &#34;peer-low&#34; growth at Kimberly-Clark given its exposure to lower growth country/category combinations.  The initiation was one of 16 companies in the U.S. beverages and household products and personal care space.</li><li>Credit Suisse initiated coverage of <b>Wix.com</b> (WIX) with an Outperform rating and $105 price target. As a leading software-as-a-service content management system provider, Wix offers a compelling suite of no/low-code web development tools and has also built out a &#34;robust suite&#34; of business and commerce solutions, the analyst argues.</li><li>Mizuho initiated coverage of <b>GE HealthCare</b> (GEHC) with a Buy rating and $90 price target. The analyst says positive feedback from the firm&#39;s radiology survey points to pent-up demand for additional U.S. hospital imaging capacity. Positive checks from hospital surveys point toward a return to double-digit growth in imaging procedures, the analyst added.</li><li>DA Davidson initiated coverage of <b>Braze</b> (BRZE) with a Neutral rating and $34 price target. While stating they have &#34;a very positive outlook&#34; for Braze and view it as a leader in the emerging customer engagement software arena, the firm believes the possible rationalization of marketing budgets this year is a reason for &#34;a little near term caution.&#34;</li><li>Morgan Stanley assumed coverage of<b> Zebra Technologies</b> (ZBRA) with an Equal Weight rating with a price target of $305, up from $260. The firm is increasing estimates to credit the company&#39;s Q1 beat, but still sees risks around growing macro caution and lingering supply chain issues.</li></ul></body></html>","source":"lsy1666364704704","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>Top Calls on Wall Street: DraftKings, Virgin Galactic, Coinbase and More</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\">\nTop Calls on Wall Street: DraftKings, Virgin Galactic, Coinbase and More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-17 22:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thefly.com/landingPageNews.php?id=3665490&headline=ROKU;FTI;DKNG;GOOS;AXON;SPCE;TXRH;WIX;KMB;COIN;GEHC;BRZE;ZBRA;UEIC;XP-Street-Wrap-Todays-Top--Upgrades-Downgrades-Initiations&utm_source=https://thefly.com/&utm_medium=referral&utm_campaign=referral_traffic><strong>TheFly</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Top 5 Upgrades:BofA upgraded Roku (ROKU) to Buy from Underperform with a price target of $85, up from $45. The company is performing better than the broader advertising market, which remains weak, as ...</p>\n\n<a href=\"https://thefly.com/landingPageNews.php?id=3665490&headline=ROKU;FTI;DKNG;GOOS;AXON;SPCE;TXRH;WIX;KMB;COIN;GEHC;BRZE;ZBRA;UEIC;XP-Street-Wrap-Todays-Top--Upgrades-Downgrades-Initiations&utm_source=https://thefly.com/&utm_medium=referral&utm_campaign=referral_traffic\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DKNG":"DraftKings Inc.","COIN":"Coinbase Global, Inc.","SPCE":"维珍银河"},"source_url":"https://thefly.com/landingPageNews.php?id=3665490&headline=ROKU;FTI;DKNG;GOOS;AXON;SPCE;TXRH;WIX;KMB;COIN;GEHC;BRZE;ZBRA;UEIC;XP-Street-Wrap-Todays-Top--Upgrades-Downgrades-Initiations&utm_source=https://thefly.com/&utm_medium=referral&utm_campaign=referral_traffic","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184653577","content_text":"Top 5 Upgrades:BofA upgraded Roku (ROKU) to Buy from Underperform with a price target of $85, up from $45. The company is performing better than the broader advertising market, which remains weak, as ad spending across some verticals is bottoming out, the analyst tells investors.Citi upgraded TechnipFMC (FTI) to Buy from Neutral with an $18 price target after taking over coverage of the name. The company's pricing leverage is improving given a consolidating sector and success of its integrated model and standardization strategy, the analyst tells investors.BTIG upgraded DraftKings (DKNG) to Buy from Neutral with a $24 price target. A divergence in player adoption and marketing cost trends has driven upside versus EBITDA expectations for DraftKings throughout 2022, and this pattern will persist in 2023, the analyst said.Wolfe Research upgraded Virgin Galactic (SPCE) to Peer Perform from Underperform without a price target. With WhiteKightTwo's return to flight, Virgin Galactic shares will \"likely link to a positive event path\" through June, the analyst tells investors.Compass Point upgraded Coinbase (COIN) to Buy from Neutral with a price target of $100, up from $75, after updating estimates ahead of the company's Q4 earnings report due on February 21. The firm believes Coinbase is well positioned to gain market share when the crypto bull market returns.Top 5 Downgrades:Evercore ISI downgraded Canada Goose (GOOS) to In Line from Outperform with a price target of $20, down from $25. The analyst views the company's new long-term financial targets, which promise to nearly triple sales to $3B in five years while taking EBIT margin from 19% currently to 30%, as \"needlessly aggressive.\"Raymond James downgraded Axon (AXON) to Outperform from Strong Buy with a $223 price target. Shares are up 130% from their lows in May 2022, and while execution has been nearly flawless during this period, the inevitability of mean reversion, decelerating growth off of a larger base and less room for multiple expansion leave the firm searching for a near-term positive catalyst.Stifel downgraded Texas Roadhouse (TXRH) to Hold from Buy with a price target of $105, down from $110. The analyst remains confident in the company's 2023 sales outlook and long-term unit growth prospects, but is less confident there is meaningful upside to its 2023 earnings per share estimate.B. Riley downgraded Universal Electronics (UEIC) to Neutral from Buy with a price target of $22, down from $29, following the Q4 miss. The company's legacy home entertainment segment has substantially accelerated the pace of decline, thereby deferring the growing home automation, security and hospitality segment's ability to begin to offset that decline, the analyst tells investors. The stock was also downgraded to Neutral from Buy at Rosenblatt.Credit Suisse downgraded XP Inc. (XP) to Underperform from Neutral with a price target of $15, down from $27, after the company's Q4 results missed expectations. The analyst believes it is time for a shift in strategy at the company, saying the results are \"very negative\" for shares given the large earnings decline.Top 5 Initiations:Citi initiated coverage of Kimberly-Clark (KMB) with a Sell rating and $120 price target. The analyst forecasts \"peer-low\" growth at Kimberly-Clark given its exposure to lower growth country/category combinations.  The initiation was one of 16 companies in the U.S. beverages and household products and personal care space.Credit Suisse initiated coverage of Wix.com (WIX) with an Outperform rating and $105 price target. As a leading software-as-a-service content management system provider, Wix offers a compelling suite of no/low-code web development tools and has also built out a \"robust suite\" of business and commerce solutions, the analyst argues.Mizuho initiated coverage of GE HealthCare (GEHC) with a Buy rating and $90 price target. The analyst says positive feedback from the firm's radiology survey points to pent-up demand for additional U.S. hospital imaging capacity. Positive checks from hospital surveys point toward a return to double-digit growth in imaging procedures, the analyst added.DA Davidson initiated coverage of Braze (BRZE) with a Neutral rating and $34 price target. While stating they have \"a very positive outlook\" for Braze and view it as a leader in the emerging customer engagement software arena, the firm believes the possible rationalization of marketing budgets this year is a reason for \"a little near term caution.\"Morgan Stanley assumed coverage of Zebra Technologies (ZBRA) with an Equal Weight rating with a price target of $305, up from $260. The firm is increasing estimates to credit the company's Q1 beat, but still sees risks around growing macro caution and lingering supply chain issues.","news_type":1,"symbols_score_info":{"DKNG":0.9,"COIN":0.9,"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":3603,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954712944,"gmtCreate":1676627454788,"gmtModify":1676627458816,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Ivobobobivbiob","listText":"Ivobobobivbiob","text":"Ivobobobivbiob","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954712944","repostId":"1140323354","repostType":4,"repost":{"id":"1140323354","kind":"news","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":1676621735,"share":"https://ttm.financial/m/news/1140323354?lang=en_US&edition=fundamental","pubTime":"2023-02-17 16:15","market":"us","language":"en","title":"What Recession? Strong Economy Buoys U.S. Stocks, Though Fed Casts Shadow","url":"https://stock-news.laohu8.com/highlight/detail?id=1140323354","media":"Reuters","summary":"NEW YORK, Feb 17 (Reuters) - Signs of strength in the U.S. economy have buoyed stocks in the face of","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/cc2166c1e3977349304374c8ba5ee5f6\" tg-width=\"3978\" tg-height=\"2652\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>NEW YORK, Feb 17 (Reuters) - Signs of strength in the U.S. economy have buoyed stocks in the face of rising Treasury yields and hawkish Federal Reserve expectations, though some investors believe the rally may be on borrowed time.</p><p>Stronger-than-expected reports on employment, retail sales and inflation have pushed up expectations for how much higher theFederal Reserve will need to raise ratesand ignited a surge in Treasury yields - typically a negative development for stocks.</p><p>Yet the robust data has also dispelled fears of an impending recession thatplagued Wall Street at the end of 2022, giving investors a reason to hold on to equities, at least for now. The S&amp;P 500 is up 6.6% for the year-to-date, even as benchmark 10-year Treasury yields have risen nearly 50 basis points from their lows of the year.</p><p>Only 24% of global fund managers now expect a recession, down from 77% in November, a recent survey by BofA Global Research showed.</p><p>“Everyone came into the year thinking that there’s an imminent recession in the first half of 2023,” said Charlie McElligott, managing director, cross-asset strategy at Nomura Securities. “They got caught off guard because there’s much more resilient domestic and global growth.”</p><p><img src=\"https://static.tigerbbs.com/0af350c100bc630334e51a7aec87744e\" tg-width=\"955\" tg-height=\"719\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Yields vs stocks</p><p>Investors’ resolve can be seen in the resilience of the Nasdaq Composite Index, home to many of the tech and growth stocks that were particularly sensitive to higher yields last year, when it registered a 33% loss.</p><p>Based on historical regression, the Nasdaq should have sold off between 5% and 10% based on the increase in two-year yields since the Fed meeting earlier this month, according to a report from analysts at JPMorgan, including chief global markets strategist Marko Kolanovic. Instead, the index is up 0.3% over that time, and is up 13.3% for the year to date.</p><p>Some investors say the market’s resilience is unlikely to last much longer,especially if yields keep rising. Higher Treasury yields can weigh on stocks as they offer equities investment competition, increase companies borrowing costs and hurt valuations.</p><p>Many also believe that a recession has been delayed but not avoided. A severe downturn could await in the second half of the year, especially if rebounding inflation forces the Fed to keep rates at a higher level for longer to cool prices.</p><p>“The market in equities is just not appreciating that there will be more stepping on the brakes from the Fed and more earnings at risk of going lower,” said Torsten Slok, Chief Economist at Apollo Global Management. “Everyone wants to buy the dip in the stock market but the risk is that with inflation at 6.4% the Fed is just not done.&#34;</p><p>There are already signs that investors may be growing nervous over the economy’s strength. The S&amp;P 500 dropped 1.4% on Thursday, helped in part by a stronger than expected U.S.producer price indexreading.</p><p>Bearish investors also note other factors that tend to weigh on stocks have reared their heads in recent weeks. Real yields - which measure return on Treasury yields after inflation - have turned higher, taking the yield of the U.S. 10-year Treasury Inflation Protected Security near its highest level since early January. That can dull the allure of stocks, which are seen as far riskier than U.S. government bonds.</p><p>Rising yields have also arrested a decline in the U.S. dollar, which tumbled from a two-decade high in the latter half of 2022 but is now up nearly 3% from its low of the year against a basket of currencies. A stronger dollar tends to hurt the profits of U.S. multinationals and exporters.</p><p>In BoFA&#39;s survey, 66% of fund managers said the move in stocks, which began in October and has seen the S&amp;P 500 rise 14% from that month&#39;s lows, was a bear market rally rather than a new bull market.</p><p>Still, some investors believe risks are tilted in favor of stocks, with the bulk of the Fed’s monetary policy tightening likely in the rearview mirror and valuations broadly lower after last year’s 19.4% selloff in the S&amp;P 500.</p><p>Lara Reinhard, senior portfolio strategist at Janus Henderson Investors, is avoiding technology and growth stocks but focusing on shares of companies that pay out dividends as a hedge against inflation.</p><p>“We are starting at more normal valuations and in some cases cheaper valuations than in the last few years,” she said.</p><p>Meanwhile, stocks are getting strong support from retail investors, who pumped a record net average of $1.51 billion per day into U.S. stocks over the last month, according to Vanda Securities.</p><p>&#34;Retail investors have plenty of dry powder in the form of capital parked in money market funds that could be deployed in the equity space once confidence about future market returns increases more broadly,&#34; the firm&#39;s analysts wrote.</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>What Recession? Strong Economy Buoys U.S. Stocks, Though Fed Casts Shadow</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\">\nWhat Recession? Strong Economy Buoys U.S. Stocks, Though Fed Casts Shadow\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\">2023-02-17 16:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><img src=\"https://static.tigerbbs.com/cc2166c1e3977349304374c8ba5ee5f6\" tg-width=\"3978\" tg-height=\"2652\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>NEW YORK, Feb 17 (Reuters) - Signs of strength in the U.S. economy have buoyed stocks in the face of rising Treasury yields and hawkish Federal Reserve expectations, though some investors believe the rally may be on borrowed time.</p><p>Stronger-than-expected reports on employment, retail sales and inflation have pushed up expectations for how much higher theFederal Reserve will need to raise ratesand ignited a surge in Treasury yields - typically a negative development for stocks.</p><p>Yet the robust data has also dispelled fears of an impending recession thatplagued Wall Street at the end of 2022, giving investors a reason to hold on to equities, at least for now. The S&amp;P 500 is up 6.6% for the year-to-date, even as benchmark 10-year Treasury yields have risen nearly 50 basis points from their lows of the year.</p><p>Only 24% of global fund managers now expect a recession, down from 77% in November, a recent survey by BofA Global Research showed.</p><p>“Everyone came into the year thinking that there’s an imminent recession in the first half of 2023,” said Charlie McElligott, managing director, cross-asset strategy at Nomura Securities. “They got caught off guard because there’s much more resilient domestic and global growth.”</p><p><img src=\"https://static.tigerbbs.com/0af350c100bc630334e51a7aec87744e\" tg-width=\"955\" tg-height=\"719\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Yields vs stocks</p><p>Investors’ resolve can be seen in the resilience of the Nasdaq Composite Index, home to many of the tech and growth stocks that were particularly sensitive to higher yields last year, when it registered a 33% loss.</p><p>Based on historical regression, the Nasdaq should have sold off between 5% and 10% based on the increase in two-year yields since the Fed meeting earlier this month, according to a report from analysts at JPMorgan, including chief global markets strategist Marko Kolanovic. Instead, the index is up 0.3% over that time, and is up 13.3% for the year to date.</p><p>Some investors say the market’s resilience is unlikely to last much longer,especially if yields keep rising. Higher Treasury yields can weigh on stocks as they offer equities investment competition, increase companies borrowing costs and hurt valuations.</p><p>Many also believe that a recession has been delayed but not avoided. A severe downturn could await in the second half of the year, especially if rebounding inflation forces the Fed to keep rates at a higher level for longer to cool prices.</p><p>“The market in equities is just not appreciating that there will be more stepping on the brakes from the Fed and more earnings at risk of going lower,” said Torsten Slok, Chief Economist at Apollo Global Management. “Everyone wants to buy the dip in the stock market but the risk is that with inflation at 6.4% the Fed is just not done.&#34;</p><p>There are already signs that investors may be growing nervous over the economy’s strength. The S&amp;P 500 dropped 1.4% on Thursday, helped in part by a stronger than expected U.S.producer price indexreading.</p><p>Bearish investors also note other factors that tend to weigh on stocks have reared their heads in recent weeks. Real yields - which measure return on Treasury yields after inflation - have turned higher, taking the yield of the U.S. 10-year Treasury Inflation Protected Security near its highest level since early January. That can dull the allure of stocks, which are seen as far riskier than U.S. government bonds.</p><p>Rising yields have also arrested a decline in the U.S. dollar, which tumbled from a two-decade high in the latter half of 2022 but is now up nearly 3% from its low of the year against a basket of currencies. A stronger dollar tends to hurt the profits of U.S. multinationals and exporters.</p><p>In BoFA&#39;s survey, 66% of fund managers said the move in stocks, which began in October and has seen the S&amp;P 500 rise 14% from that month&#39;s lows, was a bear market rally rather than a new bull market.</p><p>Still, some investors believe risks are tilted in favor of stocks, with the bulk of the Fed’s monetary policy tightening likely in the rearview mirror and valuations broadly lower after last year’s 19.4% selloff in the S&amp;P 500.</p><p>Lara Reinhard, senior portfolio strategist at Janus Henderson Investors, is avoiding technology and growth stocks but focusing on shares of companies that pay out dividends as a hedge against inflation.</p><p>“We are starting at more normal valuations and in some cases cheaper valuations than in the last few years,” she said.</p><p>Meanwhile, stocks are getting strong support from retail investors, who pumped a record net average of $1.51 billion per day into U.S. stocks over the last month, according to Vanda Securities.</p><p>&#34;Retail investors have plenty of dry powder in the form of capital parked in money market funds that could be deployed in the equity space once confidence about future market returns increases more broadly,&#34; the firm&#39;s analysts wrote.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140323354","content_text":"NEW YORK, Feb 17 (Reuters) - Signs of strength in the U.S. economy have buoyed stocks in the face of rising Treasury yields and hawkish Federal Reserve expectations, though some investors believe the rally may be on borrowed time.Stronger-than-expected reports on employment, retail sales and inflation have pushed up expectations for how much higher theFederal Reserve will need to raise ratesand ignited a surge in Treasury yields - typically a negative development for stocks.Yet the robust data has also dispelled fears of an impending recession thatplagued Wall Street at the end of 2022, giving investors a reason to hold on to equities, at least for now. The S&P 500 is up 6.6% for the year-to-date, even as benchmark 10-year Treasury yields have risen nearly 50 basis points from their lows of the year.Only 24% of global fund managers now expect a recession, down from 77% in November, a recent survey by BofA Global Research showed.“Everyone came into the year thinking that there’s an imminent recession in the first half of 2023,” said Charlie McElligott, managing director, cross-asset strategy at Nomura Securities. “They got caught off guard because there’s much more resilient domestic and global growth.”Yields vs stocksInvestors’ resolve can be seen in the resilience of the Nasdaq Composite Index, home to many of the tech and growth stocks that were particularly sensitive to higher yields last year, when it registered a 33% loss.Based on historical regression, the Nasdaq should have sold off between 5% and 10% based on the increase in two-year yields since the Fed meeting earlier this month, according to a report from analysts at JPMorgan, including chief global markets strategist Marko Kolanovic. Instead, the index is up 0.3% over that time, and is up 13.3% for the year to date.Some investors say the market’s resilience is unlikely to last much longer,especially if yields keep rising. Higher Treasury yields can weigh on stocks as they offer equities investment competition, increase companies borrowing costs and hurt valuations.Many also believe that a recession has been delayed but not avoided. A severe downturn could await in the second half of the year, especially if rebounding inflation forces the Fed to keep rates at a higher level for longer to cool prices.“The market in equities is just not appreciating that there will be more stepping on the brakes from the Fed and more earnings at risk of going lower,” said Torsten Slok, Chief Economist at Apollo Global Management. “Everyone wants to buy the dip in the stock market but the risk is that with inflation at 6.4% the Fed is just not done.\"There are already signs that investors may be growing nervous over the economy’s strength. The S&P 500 dropped 1.4% on Thursday, helped in part by a stronger than expected U.S.producer price indexreading.Bearish investors also note other factors that tend to weigh on stocks have reared their heads in recent weeks. Real yields - which measure return on Treasury yields after inflation - have turned higher, taking the yield of the U.S. 10-year Treasury Inflation Protected Security near its highest level since early January. That can dull the allure of stocks, which are seen as far riskier than U.S. government bonds.Rising yields have also arrested a decline in the U.S. dollar, which tumbled from a two-decade high in the latter half of 2022 but is now up nearly 3% from its low of the year against a basket of currencies. A stronger dollar tends to hurt the profits of U.S. multinationals and exporters.In BoFA's survey, 66% of fund managers said the move in stocks, which began in October and has seen the S&P 500 rise 14% from that month's lows, was a bear market rally rather than a new bull market.Still, some investors believe risks are tilted in favor of stocks, with the bulk of the Fed’s monetary policy tightening likely in the rearview mirror and valuations broadly lower after last year’s 19.4% selloff in the S&P 500.Lara Reinhard, senior portfolio strategist at Janus Henderson Investors, is avoiding technology and growth stocks but focusing on shares of companies that pay out dividends as a hedge against inflation.“We are starting at more normal valuations and in some cases cheaper valuations than in the last few years,” she said.Meanwhile, stocks are getting strong support from retail investors, who pumped a record net average of $1.51 billion per day into U.S. stocks over the last month, according to Vanda Securities.\"Retail investors have plenty of dry powder in the form of capital parked in money market funds that could be deployed in the equity space once confidence about future market returns increases more broadly,\" the firm's analysts wrote.","news_type":1,"symbols_score_info":{"YMmain":0.9,"NQmain":0.9,"ESmain":0.9}},"isVote":1,"tweetType":1,"viewCount":1161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926764411,"gmtCreate":1671635565833,"gmtModify":1676538567589,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Handheld","listText":"Handheld","text":"Handheld","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926764411","repostId":"9963969638","repostType":1,"repost":{"id":9963969638,"gmtCreate":1668567458425,"gmtModify":1677745765888,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3527667667103859","idStr":"3527667667103859"},"themes":[],"title":"Join Tiger's Football Season, share the prizes worth up to US$200,000","htmlText":"This year is the year of football, the Qatar World Cup, AFF championship, make the following days a big carnival for football fans all around the world!&nbsp;While you enjoy your football carnival, don't forget to join in Tiger's Football Season on Tiger Trade App, and share the prizes worth up to USD 200,000!Play the \"Perfect Goals\" game with us, and feel the score moment by only pressing the button.Keep completing the daily tasks and play the game, win more points to redeem stock vouchers worth up to USD 2,000 or AFF tickets, and the top prize - the free journey of watching the AFF finals!You can also predict a football match of the World Cup or AFF Championship, and cheer for your home team.Besides, you may obtain the Tiger Football Card by participating in the campaign every day.Goalke","listText":"This year is the year of football, the Qatar World Cup, AFF championship, make the following days a big carnival for football fans all around the world!&nbsp;While you enjoy your football carnival, don't forget to join in Tiger's Football Season on Tiger Trade App, and share the prizes worth up to USD 200,000!Play the \"Perfect Goals\" game with us, and feel the score moment by only pressing the button.Keep completing the daily tasks and play the game, win more points to redeem stock vouchers worth up to USD 2,000 or AFF tickets, and the top prize - the free journey of watching the AFF finals!You can also predict a football match of the World Cup or AFF Championship, and cheer for your home team.Besides, you may obtain the Tiger Football Card by participating in the campaign every day.Goalke","text":"This year is the year of football, the Qatar World Cup, AFF championship, make the following days a big carnival for football fans all around the world! While you enjoy your football carnival, don't forget to join in Tiger's Football Season on Tiger Trade App, and share the prizes worth up to USD 200,000!Play the \"Perfect Goals\" game with us, and feel the score moment by only pressing the button.Keep completing the daily tasks and play the game, win more points to redeem stock vouchers worth up to USD 2,000 or AFF tickets, and the top prize - the free journey of watching the AFF finals!You can also predict a football match of the World Cup or AFF Championship, and cheer for your home team.Besides, you may obtain the Tiger Football Card by participating in the campaign every day.Goalke","images":[{"img":"https://community-static.tradeup.com/news/e8c9b6ab16214df413c77708cf5957bf","width":"404","height":"707"},{"img":"https://community-static.tradeup.com/news/6f0ddb54cc9e55b9b9b59a0c9908bfb5","width":"358","height":"471"},{"img":"https://community-static.tradeup.com/news/d9cc4adf57a9972e62e94d321ecc6734","width":"402","height":"712"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9963969638","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":987,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926764643,"gmtCreate":1671635535782,"gmtModify":1676538567581,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Papp","listText":"Papp","text":"Papp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926764643","isVote":1,"tweetType":1,"viewCount":1341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9926764390,"gmtCreate":1671635493610,"gmtModify":1676538567566,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Zkaksks","listText":"Zkaksks","text":"Zkaksks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926764390","repostId":"9926444530","repostType":1,"repost":{"id":9926444530,"gmtCreate":1671620407000,"gmtModify":1703674835955,"author":{"id":"3527667592269412","authorId":"3527667592269412","name":"OptionsTracker","avatar":"https://static.tigerbbs.com/e3f1f839aad7a15f602f3f42eaad51af","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3527667592269412","idStr":"3527667592269412"},"themes":[],"title":"Hot stocks covered call  reference [December 21]","htmlText":"Selling covered call options (sell covered call) is a strategy adopted by many large funds. It can also be used by retail investors in the US stock market.You can get income while holding it.This strategy is very suitable for stocks that have long-term positions, but they have not moved but they are not in a bearish position recently or are in a bearish position recently. It can be a good strategy for mature investors to roll over when holding some targets for a long time.Income comparisonAssume that investors hold 200 shares of Amazon from January 1 to December 17, 2021If there is no operation during the holding period, the final total assets will be USD 675,484If the covered call strategy is carried out, it will be operated once a week; if 100 shares are sold after the exercise, another","listText":"Selling covered call options (sell covered call) is a strategy adopted by many large funds. It can also be used by retail investors in the US stock market.You can get income while holding it.This strategy is very suitable for stocks that have long-term positions, but they have not moved but they are not in a bearish position recently or are in a bearish position recently. It can be a good strategy for mature investors to roll over when holding some targets for a long time.Income comparisonAssume that investors hold 200 shares of Amazon from January 1 to December 17, 2021If there is no operation during the holding period, the final total assets will be USD 675,484If the covered call strategy is carried out, it will be operated once a week; if 100 shares are sold after the exercise, another","text":"Selling covered call options (sell covered call) is a strategy adopted by many large funds. It can also be used by retail investors in the US stock market.You can get income while holding it.This strategy is very suitable for stocks that have long-term positions, but they have not moved but they are not in a bearish position recently or are in a bearish position recently. It can be a good strategy for mature investors to roll over when holding some targets for a long time.Income comparisonAssume that investors hold 200 shares of Amazon from January 1 to December 17, 2021If there is no operation during the holding period, the final total assets will be USD 675,484If the covered call strategy is carried out, it will be operated once a week; if 100 shares are sold after the exercise, another","images":[{"img":"https://static.tigerbbs.com/1be4ad594d709020d91c8496e1f9e7c9","width":"-1","height":"-1"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9926444530","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9999908594,"gmtCreate":1660445568219,"gmtModify":1676533472025,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Ghjkkjkk","listText":"Ghjkkjkk","text":"Ghjkkjkk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9999908594","repostId":"2259349706","repostType":4,"repost":{"id":"2259349706","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":1660440324,"share":"https://ttm.financial/m/news/2259349706?lang=en_US&edition=fundamental","pubTime":"2022-08-14 09:25","market":"us","language":"en","title":"Inflation Surge Cools in July. Should You Still Play Defense with Your Portfolio?","url":"https://stock-news.laohu8.com/highlight/detail?id=2259349706","media":"Dow Jones","summary":"Investors hopeful about a potential retreat in U.S. inflation from its highest levels in decades hav","content":"<html><head></head><body><p>Investors hopeful about a potential retreat in U.S. inflation from its highest levels in decades have been piling into stocks, even as several high-profile investors warn the rally may be a mirage.</p><p>The latest surge in stocks helped lift the Nasdaq Composite out of bear-market territory on Wednesday and the Dow Jones Industrial Average  to exit correction territory. But the sharp upswing also prompted debate about if investors should adjust their portfolios, pivoting away from defense plays.</p><p>For the past month, growth stocks in general outperformed their value counterparts. The Russell 1000 Growth Index  advanced 13%, while the Russell 1000 Value Index  gained 9.5%, according  to Dow Jones Market data. Cathie Wood&#39;s tech-heavy <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (ARKK) rose 10% in the past month, topping the 8.3% gain of Warren Buffett&#39;s Berkshire Hathaway (BRKA) shares for the same period.</p><p>Liz Young, head of investment strategy at SoFi, said investors should consider being in the market and out of cash by the end of summer, though she remains skeptical of the quick rise of stocks since mid-June. &#34;In the case of the Fed&#39;s current goal, markets are starting to believe in the possibility of a soft landing,&#34; Young wrote in a Thursday note.</p><p>However, that&#39;s not what the bond market has been signaling, said Nancy Davis, portfolio manager of the Quadratic Interest Rate Volatility and Inflation Hedge Exchange-Traded Fund <a href=\"https://laohu8.com/S/IVOL\">$(IVOL)$</a>. The yield of 2-year Treasury note remains higher than that of the 10-year treasury bond.  &#34;It&#39;s a substantial inversion,&#34; Davis noted. &#34;It&#39;s really the market pricing the low- growth kind of bad scenario.&#34;</p><p>Helping to fuel risk appetite, the U.S. consumer-price index was unchanged in July, the Labor Department said Wednesday, compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July.</p><p>A day later, the U.S. producer-price index fell 0.5% in July, the first negative monthly print since April 2020. That&#39;s compared with a 1% jump in June. Economists polled by The Wall Street Journal had forecast a 0.2% advance.</p><h2>A diversified portfolio?</h2><p>Mark Heppenstall, president and chief investment officer at Penn Mutual Asset Management, said that as long as inflation continues to trend lower, the classic 60/40 portfolio, with 60% invested in stocks and 40% in bonds, will continue to provide reasonable returns.</p><p>&#34;In most market environments, it&#39;s helpful to have broad and balanced exposure,&#34; said Brian Storey, senior portfolio manager at Brinker Capital Investments.</p><p>Storey suggested that investors consider adding high-quality stocks to their portfolio. For investors with a risk posture that&#39;s a little more conservative, Storey encourages them to look outside of equity markets. &#34;Some investment-grade fixed-income corporate bonds, or even some noncore fixed-income, like high-yield bonds, bank loans or emerging-market debt -- those are areas [where] spreads widened a lot,&#34; Storey said.</p><p>&#34;Given that there doesn&#39;t seem to be any extreme areas of stress in financial markets over the next six-to-12 months, those are areas that should see some fairly attractive returns, particularly compared to US Treasurys,&#34; Storey said.</p><h2>Growth vs. Value Stocks</h2><p>Still, Storey has been skeptical about whether the recent rally led by growth stocks is sustainable, given that it has been partly driven by the fall in the 10-year treasury yield.</p><p>The 10-year Treasury  advanced modestly for the week to 2.848% on Friday, still below its 3.482% high in June.</p><p>&#34;I think now that we&#39;re gonna see treasury yields a little bit more range bound,&#34; said Storey. &#34;So I think that the decline in yields that has been a catalyst for those Nasdaq stocks is probably not going to be as much of a tailwind in the future.&#34;</p><p>Even if the stock rally continues, &#34;I don&#39;t think that people are going to be going back to the same kind of leadership names,&#34; said Stephen Hoedt, managing director at equity and fixed income research at Key Private Bank. While the rally since June has been led by some &#34;unprofitable technology companies,&#34; the market is likely to gravitate for leadership of high quality growth companies, such as some in healthcare and consumer discretionary, Hoedt noted.</p><p>&#34;You just can&#39;t put money to work in technology willy-nilly right now. Because there still are significant valuation concerns,&#34; Hoedt said. &#34;And the fact that we&#39;re in a higher interest rate environment is a headwind for companies that do not have earnings or have more difficult profitability than others.&#34;</p><h2>More rate hikes</h2><p>Next week, investors will be focused on initial jobless claims data and existing home sales number.</p><p>Later this month, the Fed will hold its Jackson Hole Economic Symposium, which could be the next major catalyst for market movements, analysts said.</p><p>&#34;There are a lot of hawkish expectations from the forward guidance,&#34; Quadratic&#39;s Davis said. While the Fed has raised interest rates by 225 basis points already this year, the market is pricing in an additional 117 basis points of hikes to come for the rest of the year, Davis noted.</p><p>She will be tuned into the Jackson Hole summit for any talk about how the Fed officials plan to use the central bank&#39;s balance sheet as a monetary policy tool to fight inflation.</p><p>For the past week, the Dow added 2.9% to around 33,761.05. The S&amp;P 500  gained 3.3% to 4,280.15, and the Nasdaq rose 3.1% to 13,047.19.</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>Inflation Surge Cools in July. Should You Still Play Defense with Your Portfolio?</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\">\nInflation Surge Cools in July. Should You Still Play Defense with Your Portfolio?\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\">2022-08-14 09:25</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Investors hopeful about a potential retreat in U.S. inflation from its highest levels in decades have been piling into stocks, even as several high-profile investors warn the rally may be a mirage.</p><p>The latest surge in stocks helped lift the Nasdaq Composite out of bear-market territory on Wednesday and the Dow Jones Industrial Average  to exit correction territory. But the sharp upswing also prompted debate about if investors should adjust their portfolios, pivoting away from defense plays.</p><p>For the past month, growth stocks in general outperformed their value counterparts. The Russell 1000 Growth Index  advanced 13%, while the Russell 1000 Value Index  gained 9.5%, according  to Dow Jones Market data. Cathie Wood&#39;s tech-heavy <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> (ARKK) rose 10% in the past month, topping the 8.3% gain of Warren Buffett&#39;s Berkshire Hathaway (BRKA) shares for the same period.</p><p>Liz Young, head of investment strategy at SoFi, said investors should consider being in the market and out of cash by the end of summer, though she remains skeptical of the quick rise of stocks since mid-June. &#34;In the case of the Fed&#39;s current goal, markets are starting to believe in the possibility of a soft landing,&#34; Young wrote in a Thursday note.</p><p>However, that&#39;s not what the bond market has been signaling, said Nancy Davis, portfolio manager of the Quadratic Interest Rate Volatility and Inflation Hedge Exchange-Traded Fund <a href=\"https://laohu8.com/S/IVOL\">$(IVOL)$</a>. The yield of 2-year Treasury note remains higher than that of the 10-year treasury bond.  &#34;It&#39;s a substantial inversion,&#34; Davis noted. &#34;It&#39;s really the market pricing the low- growth kind of bad scenario.&#34;</p><p>Helping to fuel risk appetite, the U.S. consumer-price index was unchanged in July, the Labor Department said Wednesday, compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July.</p><p>A day later, the U.S. producer-price index fell 0.5% in July, the first negative monthly print since April 2020. That&#39;s compared with a 1% jump in June. Economists polled by The Wall Street Journal had forecast a 0.2% advance.</p><h2>A diversified portfolio?</h2><p>Mark Heppenstall, president and chief investment officer at Penn Mutual Asset Management, said that as long as inflation continues to trend lower, the classic 60/40 portfolio, with 60% invested in stocks and 40% in bonds, will continue to provide reasonable returns.</p><p>&#34;In most market environments, it&#39;s helpful to have broad and balanced exposure,&#34; said Brian Storey, senior portfolio manager at Brinker Capital Investments.</p><p>Storey suggested that investors consider adding high-quality stocks to their portfolio. For investors with a risk posture that&#39;s a little more conservative, Storey encourages them to look outside of equity markets. &#34;Some investment-grade fixed-income corporate bonds, or even some noncore fixed-income, like high-yield bonds, bank loans or emerging-market debt -- those are areas [where] spreads widened a lot,&#34; Storey said.</p><p>&#34;Given that there doesn&#39;t seem to be any extreme areas of stress in financial markets over the next six-to-12 months, those are areas that should see some fairly attractive returns, particularly compared to US Treasurys,&#34; Storey said.</p><h2>Growth vs. Value Stocks</h2><p>Still, Storey has been skeptical about whether the recent rally led by growth stocks is sustainable, given that it has been partly driven by the fall in the 10-year treasury yield.</p><p>The 10-year Treasury  advanced modestly for the week to 2.848% on Friday, still below its 3.482% high in June.</p><p>&#34;I think now that we&#39;re gonna see treasury yields a little bit more range bound,&#34; said Storey. &#34;So I think that the decline in yields that has been a catalyst for those Nasdaq stocks is probably not going to be as much of a tailwind in the future.&#34;</p><p>Even if the stock rally continues, &#34;I don&#39;t think that people are going to be going back to the same kind of leadership names,&#34; said Stephen Hoedt, managing director at equity and fixed income research at Key Private Bank. While the rally since June has been led by some &#34;unprofitable technology companies,&#34; the market is likely to gravitate for leadership of high quality growth companies, such as some in healthcare and consumer discretionary, Hoedt noted.</p><p>&#34;You just can&#39;t put money to work in technology willy-nilly right now. Because there still are significant valuation concerns,&#34; Hoedt said. &#34;And the fact that we&#39;re in a higher interest rate environment is a headwind for companies that do not have earnings or have more difficult profitability than others.&#34;</p><h2>More rate hikes</h2><p>Next week, investors will be focused on initial jobless claims data and existing home sales number.</p><p>Later this month, the Fed will hold its Jackson Hole Economic Symposium, which could be the next major catalyst for market movements, analysts said.</p><p>&#34;There are a lot of hawkish expectations from the forward guidance,&#34; Quadratic&#39;s Davis said. While the Fed has raised interest rates by 225 basis points already this year, the market is pricing in an additional 117 basis points of hikes to come for the rest of the year, Davis noted.</p><p>She will be tuned into the Jackson Hole summit for any talk about how the Fed officials plan to use the central bank&#39;s balance sheet as a monetary policy tool to fight inflation.</p><p>For the past week, the Dow added 2.9% to around 33,761.05. The S&amp;P 500  gained 3.3% to 4,280.15, and the Nasdaq rose 3.1% to 13,047.19.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BK4550":"红杉资本持仓","ARKK":"ARK Innovation ETF","BK4534":"瑞士信贷持仓","BK4581":"高盛持仓","BK4176":"多领域控股","BK4533":"AQR资本管理(全球第二大对冲基金)","IVOL":"Quadratic Interest Rate Volatility and Inflation Hedge ETF","BK4544":"ARK ETF合集"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2259349706","content_text":"Investors hopeful about a potential retreat in U.S. inflation from its highest levels in decades have been piling into stocks, even as several high-profile investors warn the rally may be a mirage.The latest surge in stocks helped lift the Nasdaq Composite out of bear-market territory on Wednesday and the Dow Jones Industrial Average  to exit correction territory. But the sharp upswing also prompted debate about if investors should adjust their portfolios, pivoting away from defense plays.For the past month, growth stocks in general outperformed their value counterparts. The Russell 1000 Growth Index  advanced 13%, while the Russell 1000 Value Index  gained 9.5%, according  to Dow Jones Market data. Cathie Wood's tech-heavy ARK Innovation ETF (ARKK) rose 10% in the past month, topping the 8.3% gain of Warren Buffett's Berkshire Hathaway (BRKA) shares for the same period.Liz Young, head of investment strategy at SoFi, said investors should consider being in the market and out of cash by the end of summer, though she remains skeptical of the quick rise of stocks since mid-June. \"In the case of the Fed's current goal, markets are starting to believe in the possibility of a soft landing,\" Young wrote in a Thursday note.However, that's not what the bond market has been signaling, said Nancy Davis, portfolio manager of the Quadratic Interest Rate Volatility and Inflation Hedge Exchange-Traded Fund $(IVOL)$. The yield of 2-year Treasury note remains higher than that of the 10-year treasury bond.  \"It's a substantial inversion,\" Davis noted. \"It's really the market pricing the low- growth kind of bad scenario.\"Helping to fuel risk appetite, the U.S. consumer-price index was unchanged in July, the Labor Department said Wednesday, compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July.A day later, the U.S. producer-price index fell 0.5% in July, the first negative monthly print since April 2020. That's compared with a 1% jump in June. Economists polled by The Wall Street Journal had forecast a 0.2% advance.A diversified portfolio?Mark Heppenstall, president and chief investment officer at Penn Mutual Asset Management, said that as long as inflation continues to trend lower, the classic 60/40 portfolio, with 60% invested in stocks and 40% in bonds, will continue to provide reasonable returns.\"In most market environments, it's helpful to have broad and balanced exposure,\" said Brian Storey, senior portfolio manager at Brinker Capital Investments.Storey suggested that investors consider adding high-quality stocks to their portfolio. For investors with a risk posture that's a little more conservative, Storey encourages them to look outside of equity markets. \"Some investment-grade fixed-income corporate bonds, or even some noncore fixed-income, like high-yield bonds, bank loans or emerging-market debt -- those are areas [where] spreads widened a lot,\" Storey said.\"Given that there doesn't seem to be any extreme areas of stress in financial markets over the next six-to-12 months, those are areas that should see some fairly attractive returns, particularly compared to US Treasurys,\" Storey said.Growth vs. Value StocksStill, Storey has been skeptical about whether the recent rally led by growth stocks is sustainable, given that it has been partly driven by the fall in the 10-year treasury yield.The 10-year Treasury  advanced modestly for the week to 2.848% on Friday, still below its 3.482% high in June.\"I think now that we're gonna see treasury yields a little bit more range bound,\" said Storey. \"So I think that the decline in yields that has been a catalyst for those Nasdaq stocks is probably not going to be as much of a tailwind in the future.\"Even if the stock rally continues, \"I don't think that people are going to be going back to the same kind of leadership names,\" said Stephen Hoedt, managing director at equity and fixed income research at Key Private Bank. While the rally since June has been led by some \"unprofitable technology companies,\" the market is likely to gravitate for leadership of high quality growth companies, such as some in healthcare and consumer discretionary, Hoedt noted.\"You just can't put money to work in technology willy-nilly right now. Because there still are significant valuation concerns,\" Hoedt said. \"And the fact that we're in a higher interest rate environment is a headwind for companies that do not have earnings or have more difficult profitability than others.\"More rate hikesNext week, investors will be focused on initial jobless claims data and existing home sales number.Later this month, the Fed will hold its Jackson Hole Economic Symposium, which could be the next major catalyst for market movements, analysts said.\"There are a lot of hawkish expectations from the forward guidance,\" Quadratic's Davis said. While the Fed has raised interest rates by 225 basis points already this year, the market is pricing in an additional 117 basis points of hikes to come for the rest of the year, Davis noted.She will be tuned into the Jackson Hole summit for any talk about how the Fed officials plan to use the central bank's balance sheet as a monetary policy tool to fight inflation.For the past week, the Dow added 2.9% to around 33,761.05. The S&P 500  gained 3.3% to 4,280.15, and the Nasdaq rose 3.1% to 13,047.19.","news_type":1,"symbols_score_info":{"ARKK":0.9,"END":1,"BRK.B":0.68,"IVOL":0.9}},"isVote":1,"tweetType":1,"viewCount":1347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9905862690,"gmtCreate":1659851533414,"gmtModify":1703767117237,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Fugitive","listText":"Fugitive","text":"Fugitive","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9905862690","repostId":"1149987383","repostType":4,"repost":{"id":"1149987383","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":1659711444,"share":"https://ttm.financial/m/news/1149987383?lang=en_US&edition=fundamental","pubTime":"2022-08-05 22:57","market":"us","language":"en","title":"Dow Edges Into Positive Territory As Stocks Erase Early Losses","url":"https://stock-news.laohu8.com/highlight/detail?id=1149987383","media":"Tiger Newspress","summary":"The Dow Jones Industrial Average rebounded following an earlier loss in the wake of a July jobs repo","content":"<html><head></head><body><p>The Dow Jones Industrial Average rebounded following an earlier loss in the wake of a July jobs report that was much better than expected, as investors assessed what a strong labor market would mean for the Federal Reserve’s rate tightening campaign.</p><p>The Dow Jones Industrial Average shed just 3 points after being down more than 200 points. Bank stocks led the intraday comeback as rates surged from the strong jobs report. The S&amp;P 500 was flat after earlier losing about 1%. The Nasdaq Composite was down about 0.1%.</p><p>The labor market added 528,000 jobs in July,easily beating a Dow Jones estimate of a 258,000 increase. The unemployment rate ticked down to 3.5%, below the 3.6% estimate. Wage growth also ticked up more than estimated, up 0.5% for the month and 5.2% higher than a year ago, signaling that high inflation is likely still a problem.</p><p>Stocks opened lower following the report, even as it seemed to indicate the economy was not currently in a recession.</p><p>“Anybody that jumped on the ‘Fed is going to pivot next year and start cutting rates’ is going to have to get off at the next station, because that’s not in the cards,” said Art Hogan, chief market strategist at B. Riley Financial. “It is clearly a situation where the economy is not screeching or heading into a recession here and now.”</p><p>Job growth was expected to slow as the Fed continues to hike interest rates to tame surging inflation, but this report shows a labor market still running hot. The report is a crucial one as it’s one of two the central bank will see before it decides how much to raise rates at its September meeting.</p><p>Major averages posted their best month since 2020 in July on the hope the Fed would slow the pace of its hikes. The S&amp;P 500 added 9.1% last month.</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>Dow Edges Into Positive Territory As Stocks Erase Early Losses</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\">\nDow Edges Into Positive Territory As Stocks Erase Early Losses\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\">2022-08-05 22:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The Dow Jones Industrial Average rebounded following an earlier loss in the wake of a July jobs report that was much better than expected, as investors assessed what a strong labor market would mean for the Federal Reserve’s rate tightening campaign.</p><p>The Dow Jones Industrial Average shed just 3 points after being down more than 200 points. Bank stocks led the intraday comeback as rates surged from the strong jobs report. The S&amp;P 500 was flat after earlier losing about 1%. The Nasdaq Composite was down about 0.1%.</p><p>The labor market added 528,000 jobs in July,easily beating a Dow Jones estimate of a 258,000 increase. The unemployment rate ticked down to 3.5%, below the 3.6% estimate. Wage growth also ticked up more than estimated, up 0.5% for the month and 5.2% higher than a year ago, signaling that high inflation is likely still a problem.</p><p>Stocks opened lower following the report, even as it seemed to indicate the economy was not currently in a recession.</p><p>“Anybody that jumped on the ‘Fed is going to pivot next year and start cutting rates’ is going to have to get off at the next station, because that’s not in the cards,” said Art Hogan, chief market strategist at B. Riley Financial. “It is clearly a situation where the economy is not screeching or heading into a recession here and now.”</p><p>Job growth was expected to slow as the Fed continues to hike interest rates to tame surging inflation, but this report shows a labor market still running hot. The report is a crucial one as it’s one of two the central bank will see before it decides how much to raise rates at its September meeting.</p><p>Major averages posted their best month since 2020 in July on the hope the Fed would slow the pace of its hikes. The S&amp;P 500 added 9.1% last month.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149987383","content_text":"The Dow Jones Industrial Average rebounded following an earlier loss in the wake of a July jobs report that was much better than expected, as investors assessed what a strong labor market would mean for the Federal Reserve’s rate tightening campaign.The Dow Jones Industrial Average shed just 3 points after being down more than 200 points. Bank stocks led the intraday comeback as rates surged from the strong jobs report. The S&P 500 was flat after earlier losing about 1%. The Nasdaq Composite was down about 0.1%.The labor market added 528,000 jobs in July,easily beating a Dow Jones estimate of a 258,000 increase. The unemployment rate ticked down to 3.5%, below the 3.6% estimate. Wage growth also ticked up more than estimated, up 0.5% for the month and 5.2% higher than a year ago, signaling that high inflation is likely still a problem.Stocks opened lower following the report, even as it seemed to indicate the economy was not currently in a recession.“Anybody that jumped on the ‘Fed is going to pivot next year and start cutting rates’ is going to have to get off at the next station, because that’s not in the cards,” said Art Hogan, chief market strategist at B. Riley Financial. “It is clearly a situation where the economy is not screeching or heading into a recession here and now.”Job growth was expected to slow as the Fed continues to hike interest rates to tame surging inflation, but this report shows a labor market still running hot. The report is a crucial one as it’s one of two the central bank will see before it decides how much to raise rates at its September meeting.Major averages posted their best month since 2020 in July on the hope the Fed would slow the pace of its hikes. The S&P 500 added 9.1% last month.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9058434009,"gmtCreate":1654875428701,"gmtModify":1676535526920,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Pijkihjjhhh","listText":"Pijkihjjhhh","text":"Pijkihjjhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9058434009","repostId":"9058493860","repostType":1,"repost":{"id":9058493860,"gmtCreate":1654872018000,"gmtModify":1676535526427,"author":{"id":"4103332230805300","authorId":"4103332230805300","name":"Smartkarma","avatar":"https://community-static.tradeup.com/news/39fffba2ff205c2730b5bf07e3de6647","crmLevel":0,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4103332230805300","idStr":"4103332230805300"},"themes":[],"title":"Tactile Systems Technology (TCMD US): Subsiding COVID to Drive Mid-Teens Sales Growth in 2022","htmlText":"Tactile Systems has a significant runway ahead as the company continues to penetrate the combined multibillion-dollar annual addressable market opportunity amid improving COVID-related headwinds. Tactile Systems Technology I (TCMD US) offers pneumatic compression pump, which has total current addressable market opportunity of $10B+ in the U.S. The company’s annual run rate is ~$200M. To penetrate the addressable market deeper, Tactile is aggressively expanding commercial team, which should lay the foundation for long-term sustainable revenue growth and margin expansion. With the declining COVID-related headwinds, new product launch, and better commercial execution, Tactile should be well-positioned for accelerated growth trajectory. &nbsp; Full analysis here:- https://www.smartkarma.com/i","listText":"Tactile Systems has a significant runway ahead as the company continues to penetrate the combined multibillion-dollar annual addressable market opportunity amid improving COVID-related headwinds. Tactile Systems Technology I (TCMD US) offers pneumatic compression pump, which has total current addressable market opportunity of $10B+ in the U.S. The company’s annual run rate is ~$200M. To penetrate the addressable market deeper, Tactile is aggressively expanding commercial team, which should lay the foundation for long-term sustainable revenue growth and margin expansion. With the declining COVID-related headwinds, new product launch, and better commercial execution, Tactile should be well-positioned for accelerated growth trajectory. &nbsp; Full analysis here:- https://www.smartkarma.com/i","text":"Tactile Systems has a significant runway ahead as the company continues to penetrate the combined multibillion-dollar annual addressable market opportunity amid improving COVID-related headwinds. Tactile Systems Technology I (TCMD US) offers pneumatic compression pump, which has total current addressable market opportunity of $10B+ in the U.S. The company’s annual run rate is ~$200M. To penetrate the addressable market deeper, Tactile is aggressively expanding commercial team, which should lay the foundation for long-term sustainable revenue growth and margin expansion. With the declining COVID-related headwinds, new product launch, and better commercial execution, Tactile should be well-positioned for accelerated growth trajectory. Full analysis here:- https://www.smartkarma.com/i","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9058493860","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":975,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9022500046,"gmtCreate":1653538590385,"gmtModify":1676535301147,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Lclspkds","listText":"Lclspkds","text":"Lclspkds","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022500046","repostId":"9022247437","repostType":1,"repost":{"id":9022247437,"gmtCreate":1653537349105,"gmtModify":1676535300816,"author":{"id":"9000000000000582","authorId":"9000000000000582","name":"GabrielleSusan","avatar":"https://static.tigerbbs.com/765c9daae36bd47c3c2192e4245c8d47","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"9000000000000582","idStr":"9000000000000582"},"themes":[],"title":"Snap : Its crash is just an opportunity","htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/SNAP\">$Snap Inc(SNAP)$</a> A day after the stock tumbled, investors saw a buying opportunity. What‘s happened A day after&nbsp;Snap&nbsp;plunged 43% on a guidance cut, the&nbsp;social media stock&nbsp;was bouncing back as investors seemed to spy an opportunity in the sell-off.&nbsp; As of May 25, 2022 at&nbsp;5:20 p.m. ET , Shares of Snap Inc.&nbsp;surged 10.71% to $14.16 Wednesday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index&nbsp;rising 1.51% to 11,434.74 and the Dow Jones Industrial Average&nbsp;rising 0.60% to 32,120.28. The stock's rise snapped a two-day losing streak. Snap Inc. closed $69.18 below its 52-week high ($83.34), which the company reached on September 24th. The s","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/SNAP\">$Snap Inc(SNAP)$</a> A day after the stock tumbled, investors saw a buying opportunity. What‘s happened A day after&nbsp;Snap&nbsp;plunged 43% on a guidance cut, the&nbsp;social media stock&nbsp;was bouncing back as investors seemed to spy an opportunity in the sell-off.&nbsp; As of May 25, 2022 at&nbsp;5:20 p.m. ET , Shares of Snap Inc.&nbsp;surged 10.71% to $14.16 Wednesday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index&nbsp;rising 1.51% to 11,434.74 and the Dow Jones Industrial Average&nbsp;rising 0.60% to 32,120.28. The stock's rise snapped a two-day losing streak. Snap Inc. closed $69.18 below its 52-week high ($83.34), which the company reached on September 24th. The s","text":"$Snap Inc(SNAP)$ A day after the stock tumbled, investors saw a buying opportunity. What‘s happened A day after Snap plunged 43% on a guidance cut, the social media stock was bouncing back as investors seemed to spy an opportunity in the sell-off. As of May 25, 2022 at 5:20 p.m. ET , Shares of Snap Inc. surged 10.71% to $14.16 Wednesday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index rising 1.51% to 11,434.74 and the Dow Jones Industrial Average rising 0.60% to 32,120.28. The stock's rise snapped a two-day losing streak. Snap Inc. closed $69.18 below its 52-week high ($83.34), which the company reached on September 24th. The s","images":[{"img":"https://community-static.tradeup.com/news/3c686dc1bae6441e110e0ac4fc6373a8","width":"700","height":"459"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9022247437","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1725,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9066158707,"gmtCreate":1651880661109,"gmtModify":1676534988069,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"title":"Hahaha wyhhss","htmlText":"Hdjjiwiix jdowpsokepwoe njdoownskw ex wedid we. Do op k n n Hu. I j. J hi e. A d b h h Ip I. H n my f b j I h. H h x a w r h h I o n n&nbsp;","listText":"Hdjjiwiix jdowpsokepwoe njdoownskw ex wedid we. Do op k n n Hu. I j. J hi e. A d b h h Ip I. H n my f b j I h. H h x a w r h h I o n n&nbsp;","text":"Hdjjiwiix jdowpsokepwoe njdoownskw ex wedid we. Do op k n n Hu. I j. J hi e. A d b h h Ip I. H n my f b j I h. H h x a w r h h I o n n","images":[],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066158707","isVote":1,"tweetType":1,"viewCount":1236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039344735,"gmtCreate":1645933675561,"gmtModify":1676534076074,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Yyyyyyyyyuuuii","listText":"Yyyyyyyyyuuuii","text":"Yyyyyyyyyuuuii","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039344735","repostId":"1125580913","repostType":4,"repost":{"id":"1125580913","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":1645926503,"share":"https://ttm.financial/m/news/1125580913?lang=en_US&edition=fundamental","pubTime":"2022-02-27 09:48","market":"us","language":"en","title":"Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1125580913","media":"Tiger Newspress","summary":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-yea","content":"<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</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>Buffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value</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\">\nBuffett Full Annual Letter：Apple is One of ‘Four Giants’ Driving the Conglomerate’s Value\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\">2022-02-27 09:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.</p><p>Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.</p><p>In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.</p><p>“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.</p><p>Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.</p><p>“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”</p><p>Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.</p><p>“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.</p><p>Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.</p><p>Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.</p><p>“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”</p><p><b>Read the full letter here：</b></p><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.</p><p>Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.</p><p>Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.</p><p>A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.</p><p>Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.</p><p><b>What You Own</b></p><p>Berkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.</p><p>Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.</p><h2><b>Surprise, Surprise</b></h2><p>Here are a few items about your company that often surprise even seasoned investors:</p><p>• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.</p><p>At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.</p><p>• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid</p><p>$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.</p><p>Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.</p><p></p><p>The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).</p><p>I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.</p><p>In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from</p><p>$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.</p><p>During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.</p><p>Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.</p><p>Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.</p><p>In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.</p><p>• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.</p><p>So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.</p><p>Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.</p><p>If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.</p><p>Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”</p><p>I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.</p><p>One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.</p><p>Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.</p><h2>Our Four Giants</h2><p>Through Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.</p><p>• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.</p><p>The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.</p><p>There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.</p><p>• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.</p><p>It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.</p><p>• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.</p><p>Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )</p><p>BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.</p><p>• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.</p><p>BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.</p><p>Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.</p><p>To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.</p><h2>Investments</h2><p>Now let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.</p><p><img src=\"https://static.tigerbbs.com/d43587e9f59c0ff76e6c04c6bf9af324\" tg-width=\"1047\" tg-height=\"530\" referrerpolicy=\"no-referrer\"/>* This is our actual purchase price and also our tax basis.</p><p>** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.</p><p>*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.</p><p>In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.</p><p>Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.</p><h2>U.S. Treasury Bills</h2><p>Berkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.</p><p>Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.</p><h2>But $144 billion?</h2><p>That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)</p><p>After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.</p><p>Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.</p><h2>Share Repurchases</h2><p>There are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.</p><p>Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.</p><p>That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.</p><p>Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)</p><p>Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).</p><p>I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.</p><p>It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.</p><p>Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.</p><h2>A Wonderful Man and a Wonderful Business</h2><p>Last year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.</p><p>In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.</p><p>With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.</p><p>But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?</p><p>For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.</p><p>But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.</p><p>Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.</p><p>When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.</p><p>To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.</p><p>Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”</p><p>When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.</p><p>At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.</p><p>In all ways, Paul was a class act.</p><p>* * * * * * * * * * * *</p><p>Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.</p><p>Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.</p><p>In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.</p><p>Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.</p><p>The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.</p><p>On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.</p><p>Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.</p><p>The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.</p><h2>Thanks</h2><p>I taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.</p><p>Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.</p><p>Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.</p><p>Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”</p><p>Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.</p><p>Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.</p><p>I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction working</p><p>for you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.</p><p>Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.</p><p>To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.</p><p>Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.</p><p>Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”</p><h2>The Annual Meeting</h2><p>Clear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.</p><p>I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.</p><p>February 26, 2022</p><p>Warren E. Buffett Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125580913","content_text":"Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. The 91-year-old investing legend has been publishing the letter for over six decades and it has become required reading for investors around the world.Warren Buffett said he now considers tech giant Apple as one of the four pillars driving Berkshire Hathaway, the conglomerate of mostly old-economy businesses he’s assembled over the last five decades.In his annual letter to shareholders released on Saturday, the 91-year-old investing legend listed Apple under the heading “Our Four Giants” and even called the company the second-most important after Berkshire’s cluster of insurers, thanks to its chief executive.“Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well,” the letter stated.Buffett made clear he is a fan of Cook’s stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.“Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier,” Buffett said in the letter. “That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.”Berkshire began buying Apple stock in 2016 under the influence of Buffett’s investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire’s equity portfolio.“It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our ‘share’ of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud,” Buffett said.Berkshire is Apple’s largest shareholder, outside of index and exchange-traded fund providers.Buffett also credited his railroad business BNSF and energy segment BHE as two other giants of the conglomerate, which both registered record earnings in 2021.“BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire,” Buffett said. “BHE has become a utility powerhouse and a leading force in wind, solar and transmission throughout much of the United States.”Read the full letter here：To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing a portion of your savings. We are honored by your trust.Our position carries with it the responsibility to report to you what we would like to know if we were the absentee owner and you were the manager. We enjoy communicating directly with you through this annual letter, and through the annual meeting as well.Our policy is to treat all shareholders equally. Therefore, we do not hold discussions with analysts nor large institutions. Whenever possible, also, we release important communications on Saturday mornings in order to maximize the time for shareholders and the media to absorb the news before markets open on Monday.A wealth of Berkshire facts and figures are set forth in the annual 10-K that the company regularly files with the S.E.C. and that we reproduce on pages K-1 – K-119. Some shareholders will find this detail engrossing; others will simply prefer to learn what Charlie and I believe is new or interesting at Berkshire.Alas, there was little action of that sort in 2021. We did, though, make reasonable progress in increasing the intrinsic value of your shares. That task has been my primary duty for 57 years. And it will continue to be.What You OwnBerkshire owns a wide variety of businesses, some in their entirety, some only in part. The second group largely consists of marketable common stocks of major American companies. Additionally, we own a few non-U.S. equities and participate in several joint ventures or other collaborative activities.Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.I make many mistakes. Consequently, our extensive collection of businesses includes some enterprises that have truly extraordinary economics, many others that enjoy good economic characteristics, and a few that are marginal. One advantage of our common-stock segment is that – on occasion – it becomes easy to buy pieces of wonderful businesses at wonderful prices. That shooting-fish-in-a-barrel experience is very rare in negotiated transactions and never occurs en masse. It is also far easier to exit from a mistake when it has been made in the marketable arena.Surprise, SurpriseHere are a few items about your company that often surprise even seasoned investors:• Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets – classified on our balance sheet as property, plant and equipment – than are owned and operated by any other American corporation. That supremacy has never been our goal. It has, however, become a fact.At yearend, those domestic infrastructure assets were carried on Berkshire’s balance sheet at $158 billion. That number increased last year and will continue to increase. Berkshire always will be building.• Every year, your company makes substantial federal income tax payments. In 2021, for example, we paid$3.3 billion while the U.S. Treasury reported total corporate income-tax receipts of $402 billion. Additionally, Berkshire pays substantial state and foreign taxes. “I gave at the office” is an unassailable assertion when made by Berkshire shareholders.Berkshire’s history vividly illustrates the invisible and often unrecognized financial partnership between  government and American businesses. Our tale begins early in 1955, when Berkshire Fine Spinning and Hathaway Manufacturing agreed to merge their businesses. In their requests for shareholder approval, these venerable New England textile companies expressed high hopes for the combination.The Hathaway solicitation, for example, assured its shareholders that “The combination of the resources and managements will result in one of the strongest and most efficient organizations in the textile industry.” That upbeat view was endorsed by the company’s advisor, Lehman Brothers (yes, that Lehman Brothers).I’m sure it was a joyous day in both Fall River (Berkshire) and New Bedford (Hathaway) when the union was consummated. After the bands stopped playing and the bankers went home, however, the shareholders reaped a disaster.In the nine years following the merger, Berkshire’s owners watched the company’s net worth crater from$51.4 million to $22.1 million. In part, this decline was caused by stock repurchases, ill-advised dividends and plant shutdowns. But nine years of effort by many thousands of employees delivered an operating loss as well. Berkshire’s struggles were not unusual: The New England textile industry had silently entered an extended and non-reversible death march.During the nine post-merger years, the U.S. Treasury suffered as well from Berkshire’s troubles. All told, the company paid the government only $337,359 in income tax during that period – a pathetic $100 per day.Early in 1965, things changed. Berkshire installed new management that redeployed available cash and steered essentially all earnings into a variety of good businesses, most of which remained good through the years. Coupling reinvestment of earnings with the power of compounding worked its magic, and shareholders prospered.Berkshire’s owners, it should be noted, were not the only beneficiary of that course correction. Their “silent partner,” the U.S. Treasury, proceeded to collect many tens of billions of dollars from the company in income tax payments. Remember the $100 daily? Now, Berkshire pays roughly $9 million daily to the Treasury.In fairness to our governmental partner, our shareholders should acknowledge – indeed trumpet – the fact that Berkshire’s prosperity has been fostered mightily because the company has operated in America. Our country would have done splendidly in the years since 1965 without Berkshire. Absent our American home, however, Berkshire would never have come close to becoming what it is today. When you see the flag, say thanks.• From an $8.6 million purchase of National Indemnity in 1967, Berkshire has become the world leader in insurance “float” – money we hold and can invest but that does not belong to us. Including a relatively small sum derived from life insurance, Berkshire’s total float has grown from $19 million when we entered the insurance business to $147 billion.So far, this float has cost us less than nothing. Though we have experienced a number of years when insurance losses combined with operating expenses exceeded premiums, overall we have earned a modest 55-year profit from the underwriting activities that generated our float.Of equal importance, float is very sticky. Funds attributable to our insurance operations come and go daily, but their aggregate total is immune from precipitous decline. When it comes to investing float, we can therefore think long-term.If you are not already familiar with the concept of float, I refer you to a long explanation on page A-5. To my surprise, our float increased $9 billion last year, a buildup of value that is important to Berkshire owners though is not reflected in our GAAP (“generally-accepted accounting principles”) presentation of earnings and net worth.Much of our huge value creation in insurance is attributable to Berkshire’s good luck in my 1986 hiring of Ajit Jain. We first met on a Saturday morning, and I quickly asked Ajit what his insurance experience had been. He replied, “None.”I said, “Nobody’s perfect,” and hired him. That was my lucky day: Ajit actually was as perfect a choice as could have been made. Better yet, he continues to be – 35 years later.One final thought about insurance: I believe that it is likely – but far from assured – that Berkshire’s float can be maintained without our incurring a long-term underwriting loss. I am certain, however, that there will be some years when we experience such losses, perhaps involving very large sums.Berkshire is constructed to handle catastrophic events as no other insurer – and that priority will remain long after Charlie and I are gone.Our Four GiantsThrough Berkshire, our shareholders own many dozens of businesses. Some of these, in turn, have a collection of subsidiaries of their own. For example, Marmon has more than 100 individual business operations, ranging from the leasing of railroad cars to the manufacture of medical devices.• Nevertheless, operations of our “Big Four” companies account for a very large chunk of Berkshire’s value. Leading this list is our cluster of insurers. Berkshire effectively owns 100% of this group, whose massive float value we earlier described. The invested assets of these insurers are further enlarged by the extraordinary amount of capital we invest to back up their promises.The insurance business is made to order for Berkshire. The product will never be obsolete, and sales volume will generally increase along with both economic growth and inflation. Also, integrity and capital will forever be important. Our company can and will behave well.There are, of course, other insurers with excellent business models and prospects. Replication of Berkshire’s operation, however, would be almost impossible.• Apple – our runner-up Giant as measured by its yearend market value – is a different sort of holding. Here, our ownership is a mere 5.55%, up from 5.39% a year earlier. That increase sounds like small potatoes. But consider that each 0.1% of Apple’s 2021 earnings amounted to $100 million. We spent no Berkshire funds to gain our accretion. Apple’s repurchases did the job.It’s important to understand that only dividends from Apple are counted in the GAAP earnings Berkshire reports – and last year, Apple paid us $785 million of those. Yet our “share” of Apple’s earnings amounted to a staggering $5.6 billion. Much of what the company retained was used to repurchase Apple shares, an act we applaud. Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.• BNSF, our third Giant, continues to be the number one artery of American commerce, which makes it an indispensable asset for America as well as for Berkshire. If the many essential products BNSF carries were instead hauled by truck, America’s carbon emissions would soar.Your railroad had record earnings of $6 billion in 2021. Here, it should be noted, we are talking about the old-fashioned sort of earnings that we favor: a figure calculated after interest, taxes, depreciation, amortization and all forms of compensation. (Our definition suggests a warning: Deceptive “adjustments” to earnings – to use a polite description – have become both more frequent and more fanciful as stocks have risen. Speaking less politely, I would say that bull markets breed bloviated bull )BNSF trains traveled 143 million miles last year and carried 535 million tons of cargo. Both accomplishments far exceed those of any other American carrier. You can be proud of your railroad.• BHE, our final Giant, earned a record $4 billion in 2021. That’s up more than 30-fold from the $122 million earned in 2000, the year that Berkshire first purchased a BHE stake. Now, Berkshire owns 91.1% of the company.BHE’s record of societal accomplishment is as remarkable as its financial performance. The company had no wind or solar generation in 2000. It was then regarded simply as a relatively new and minor participant in the huge electric utility industry. Subsequently, under David Sokol’s and Greg Abel’s leadership, BHE has become a utility powerhouse (no groaning, please) and a leading force in wind, solar and transmission throughout much of the United States.Greg’s report on these accomplishments appears on pages A-3 and A-4. The profile you will find there is not in any way one of those currently-fashionable “green-washing” stories. BHE has been faithfully detailing its plans and performance in renewables and transmissions every year since 2007.To further review this information, visit BHE’s website at brkenergy.com. There, you will see that the company has long been making climate-conscious moves that soak up all of its earnings. More opportunities lie ahead. BHE has the management, the experience, the capital and the appetite for the huge power projects that our country needs.InvestmentsNow let’s talk about companies we don’t control, a list that again references Apple. Below we list our fifteen largest equity holdings, several of which are selections of Berkshire’s two long-time investment managers, Todd Combs and Ted Weschler. At yearend, this valued pair had total authority in respect to $34 billion of investments, many of which do not meet the threshold value we use in the table. Also, a significant portion of the dollars that Todd and Ted manage are lodged in various pension plans of Berkshire-owned businesses, with the assets of these plans not included in this table.* This is our actual purchase price and also our tax basis.** Held by BHE; consequently, Berkshire shareholders have only a 91.1% interest in this position.*** Includes a $10 billion investment in Occidental Petroleum, consisting of preferred stock and warrants to buy common stock, a combination now being valued at $10.7 billion.In addition to the footnoted Occidental holding and our various common-stock positions, Berkshire also owns a 26.6% interest in Kraft Heinz (accounted for on the “equity” method, not market value, and carried at $13.1 billion) and 38.6% of Pilot Corp., a leader in travel centers that had revenues last year of $45 billion.Since we purchased our Pilot stake in 2017, this holding has warranted “equity” accounting treatment. Early in 2023, Berkshire will purchase an additional interest in Pilot that will raise our ownership to 80% and lead to our fully consolidating Pilot’s earnings, assets and liabilities in our financial statements.U.S. Treasury BillsBerkshire’s balance sheet includes $144 billion of cash and cash equivalents (excluding the holdings of BNSF and BHE). Of this sum, $120 billion is held in U.S. Treasury bills, all maturing in less than a year. That stake leaves Berkshire financing about 12 of 1% of the publicly-held national debt.Charlie and I have pledged that Berkshire (along with our subsidiaries other than BNSF and BHE) will always hold more than $30 billion of cash and equivalents. We want your company to be financially impregnable and never dependent on the kindness of strangers (or even that of friends). Both of us like to sleep soundly, and we want our creditors, insurance claimants and you to do so as well.But $144 billion?That imposing sum, I assure you, is not some deranged expression of patriotism. Nor have Charlie and I lost our overwhelming preference for business ownership. Indeed, I first manifested my enthusiasm for that 80 years ago, on March 11, 1942, when I purchased three shares of Cities Services preferred stock. Their cost was $114.75 and required all of my savings. (The Dow Jones Industrial Average that day closed at 99, a fact that should scream to you: Never bet against America.)After my initial plunge, I always kept at least 80% of my net worth in equities. My favored status throughout that period was 100% – and still is. Berkshire’s current 80%-or-so position in businesses is a consequence of my failure to find entire companies or small portions thereof (that is, marketable stocks) which meet our criteria for long- term holding.Charlie and I have endured similar cash-heavy positions from time to time in the past. These periods are never pleasant; they are also never permanent. And, fortunately, we have had a mildly attractive alternative during 2020 and 2021 for deploying capital. Read on.Share RepurchasesThere are three ways that we can increase the value of your investment. The first is always front and center in our minds: Increase the long-term earning power of Berkshire’s controlled businesses through internal growth or by making acquisitions. Today, internal opportunities deliver far better returns than acquisitions. The size of those opportunities, however, is small compared to Berkshire’s resources.Our second choice is to buy non-controlling part-interests in the many good or great businesses that are publicly traded. From time to time, such possibilities are both numerous and blatantly attractive. Today, though, we find little that excites us.That’s largely because of a truism: Long-term interest rates that are low push the prices of all productive investments upward, whether these are stocks, apartments, farms, oil wells, whatever. Other factors influence valuations as well, but interest rates will always be important.Our final path to value creation is to repurchase Berkshire shares. Through that simple act, we increase your share of the many controlled and non-controlled businesses Berkshire owns. When the price/value equation is right, this path is the easiest and most certain way for us to increase your wealth. (Alongside the accretion of value to continuing shareholders, a couple of other parties gain: Repurchases are modestly beneficial to the seller of the repurchased shares and to society as well.)Periodically, as alternative paths become unattractive, repurchases make good sense for Berkshire’s owners. During the past two years, we therefore repurchased 9% of the shares that were outstanding at yearend 2019 for a total cost of $51.7 billion. That expenditure left our continuing shareholders owning about 10% more of all Berkshire businesses, whether these are wholly-owned (such as BNSF and GEICO) or partly-owned (such as Coca-Cola and Moody’s).I want to underscore that for Berkshire repurchases to make sense, our shares must offer appropriate value. We don’t want to overpay for the shares of other companies, and it would be value-destroying if we were to overpay when we are buying Berkshire. As of February 23, 2022, since yearend we repurchased additional shares at a cost of $1.2 billion. Our appetite remains large but will always remain price-dependent.It should be noted that Berkshire’s buyback opportunities are limited because of its high-class investor base. If our shares were heavily held by short-term speculators, both price volatility and transaction volumes would materially increase. That kind of reshaping would offer us far greater opportunities for creating value by making repurchases. Nevertheless, Charlie and I far prefer the owners we have, even though their admirable buy-and-keep attitudes limit the extent to which long-term shareholders can profit from opportunistic repurchases.Finally, one easily-overlooked value calculation specific to Berkshire: As we’ve discussed, insurance “float” of the right sort is of great value to us. As it happens, repurchases automatically increase the amount of “float” per share. That figure has increased during the past two years by 25% – going from $79,387 per “A” share to $99,497, a meaningful gain that, as noted, owes some thanks to repurchases.A Wonderful Man and a Wonderful BusinessLast year, Paul Andrews died. Paul was the founder and CEO of TTI, a Fort Worth-based subsidiary of Berkshire. Throughout his life – in both his business and his personal pursuits – Paul quietly displayed all the qualities that Charlie and I admire. His story should be told.In 1971, Paul was working as a purchasing agent for General Dynamics when the roof fell in. After losing a huge defense contract, the company fired thousands of employees, including Paul.With his first child due soon, Paul decided to bet on himself, using $500 of his savings to found Tex-Tronics (later renamed TTI). The company set itself up to distribute small electronic components, and first-year sales totaled $112,000. Today, TTI markets more than one million different items with annual volume of $7.7 billion.But back to 2006: Paul, at 63, then found himself happy with his family, his job, and his associates. But he had one nagging worry, heightened because he had recently witnessed a friend’s early death and the disastrous results that followed for that man’s family and business. What, Paul asked himself in 2006, would happen to the many people depending on him if he should unexpectedly die?For a year, Paul wrestled with his options. Sell to a competitor? From a strictly economic viewpoint, that course made the most sense. After all, competitors could envision lucrative “synergies” – savings that would be achieved as the acquiror slashed duplicated functions at TTI.But . . . Such a purchaser would most certainly also retain its CFO, its legal counsel, its HR unit. Their TTI counterparts would therefore be sent packing. And ugh! If a new distribution center were to be needed, the acquirer’s home city would certainly be favored over Fort Worth.Whatever the financial benefits, Paul quickly concluded that selling to a competitor was not for him. He next considered seeking a financial buyer, a species once labeled – aptly so – a leveraged buyout firm. Paul knew, however, that such a purchaser would be focused on an “exit strategy.” And who could know what that would be? Brooding over it all, Paul found himself having no interest in handing his 35-year-old creation over to a reseller.When Paul met me, he explained why he had eliminated these two alternatives as buyers. He then summed up his dilemma by saying – in far more tactful phrasing than this – “After a year of pondering the alternatives, I want to sell to Berkshire because you are the only guy left.” So, I made an offer and Paul said “Yes.” One meeting; one lunch; one deal.To say we both lived happily ever after is an understatement. When Berkshire purchased TTI, the company employed 2,387. Now the number is 8,043. A large percentage of that growth took place in Fort Worth and environs. Earnings have increased 673%.Annually, I would call Paul and tell him his salary should be substantially increased. Annually, he would tell me, “We can talk about that next year, Warren; I’m too busy now.”When Greg Abel and I attended Paul’s memorial service, we met children, grandchildren, long-time associates (including TTI’s first employee) and John Roach, the former CEO of a Fort Worth company Berkshire had purchased in 2000. John had steered his friend Paul to Omaha, instinctively knowing we would be a match.At the service, Greg and I heard about the multitudes of people and organizations that Paul had silently supported. The breadth of his generosity was extraordinary – geared always to improving the lives of others, particularly those in Fort Worth.In all ways, Paul was a class act.* * * * * * * * * * * *Good luck – occasionally extraordinary luck – has played its part at Berkshire. If Paul and I had not enjoyed a mutual friend – John Roach – TTI would not have found its home with us. But that ample serving of luck was only the beginning. TTI was soon to lead Berkshire to its most important acquisition.Every fall, Berkshire directors gather for a presentation by a few of our executives. We sometimes choose the site based upon the location of a recent acquisition, by that means allowing directors to meet the new subsidiary’s CEO and learn more about the acquiree’s activities.In the fall of 2009, we consequently selected Fort Worth so that we could visit TTI. At that time, BNSF, which also had Fort Worth as its hometown, was the third-largest holding among our marketable equities. Despite that large stake, I had never visited the railroad’s headquarters.Deb Bosanek, my assistant, scheduled our board’s opening dinner for October 22. Meanwhile, I arranged to arrive earlier that day to meet with Matt Rose, CEO of BNSF, whose accomplishments I had long admired. When I made the date, I had no idea that our get-together would coincide with BNSF’s third-quarter earnings report, which was released late on the 22nd.The market reacted badly to the railroad’s results. The Great Recession was in full force in the third quarter, and BNSF’s earnings reflected that slump. The economic outlook was also bleak, and Wall Street wasn’t feeling friendly to railroads – or much else.On the following day, I again got together with Matt and suggested that Berkshire would offer the railroad a better long-term home than it could expect as a public company. I also told him the maximum price that Berkshire would pay.Matt relayed the offer to his directors and advisors. Eleven busy days later, Berkshire and BNSF announced a firm deal. And here I’ll venture a rare prediction: BNSF will be a key asset for Berkshire and our country a century from now.The BNSF acquisition would never have happened if Paul Andrews hadn’t sized up Berkshire as the right home for TTI.ThanksI taught my first investing class 70 years ago. Since then, I have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018.Along the way, my toughest audience was my grandson’s fifth-grade class. The 11-year-olds were squirming in their seats and giving me blank stares until I mentioned Coca-Cola and its famous secret formula. Instantly, every hand went up, and I learned that “secrets” are catnip to kids.Teaching, like writing, has helped me develop and clarify my own thoughts. Charlie calls this phenomenon the orangutan effect: If you sit down with an orangutan and carefully explain to it one of your cherished ideas, you may leave behind a puzzled primate, but will yourself exit thinking more clearly.Talking to university students is far superior. I have urged that they seek employment in (1) the field and (2) with the kind of people they would select, if they had no need for money. Economic realities, I acknowledge, may interfere with that kind of search. Even so, I urge the students never to give up the quest, for when they find that sort of job, they will no longer be “working.”Charlie and I, ourselves, followed that liberating course after a few early stumbles. We both started as part- timers at my grandfather’s grocery store, Charlie in 1940 and I in 1942. We were each assigned boring tasks and paid little, definitely not what we had in mind. Charlie later took up law, and I tried selling securities. Job satisfaction continued to elude us.Finally, at Berkshire, we found what we love to do. With very few exceptions, we have now “worked” for many decades with people whom we like and trust. It’s a joy in life to join with managers such as Paul Andrews or the Berkshire families I told you about last year. In our home office, we employ decent and talented people – no jerks. Turnover averages, perhaps, one person per year.I would like, however, to emphasize a further item that turns our jobs into fun and satisfaction workingfor you. There is nothing more rewarding to Charlie and me than enjoying the trust of individual long-term shareholders who, for many decades, have joined us with the expectation that we would be a reliable custodian of their funds.Obviously, we can’t select our owners, as we could do if our form of operation were a partnership. Anyone can buy shares of Berkshire today with the intention of soon reselling them. For sure, we get a few of that type of shareholder, just as we get index funds that own huge amounts of Berkshire simply because they are required to do so.To a truly unusual degree, however, Berkshire has as owners a very large corps of individuals and families that have elected to join us with an intent approaching “til death do us part.” Often, they have trusted us with a large – some might say excessive – portion of their savings.Berkshire, these shareholders would sometimes acknowledge, might be far from the best selection they could have made. But they would add that Berkshire would rank high among those with which they would be most comfortable. And people who are comfortable with their investments will, on average, achieve better results than those who are motivated by ever-changing headlines, chatter and promises.Long-term individual owners are both the “partners” Charlie and I have always sought and the ones we constantly have in mind as we make decisions at Berkshire. To them we say, “It feels good to ‘work’ for you, and you have our thanks for your trust.”The Annual MeetingClear your calendar! Berkshire will have its annual gathering of capitalists in Omaha on Friday, April 29th through Sunday, May 1st. The details regarding the weekend are laid out on pages A-1 and A-2. Omaha eagerly awaits you, as do I.I will end this letter with a sales pitch. “Cousin” Jimmy Buffett has designed a pontoon “party” boat that is now being manufactured by Forest River, a Berkshire subsidiary. The boat will be introduced on April 29 at our Berkshire Bazaar of Bargains. And, for two days only, shareholders will be able to purchase Jimmy’s masterpiece at a 10% discount. Your bargain-hunting chairman will be buying a boat for his family’s use. Join me.February 26, 2022Warren E. Buffett Chairman of the Board","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":1634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9949756355,"gmtCreate":1678923014778,"gmtModify":1678923019033,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Papa oaks","listText":"Papa oaks","text":"Papa oaks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":21,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949756355","repostId":"1178433847","repostType":2,"repost":{"id":"1178433847","kind":"news","pubTimestamp":1678922002,"share":"https://ttm.financial/m/news/1178433847?lang=en_US&edition=fundamental","pubTime":"2023-03-16 07:13","market":"us","language":"en","title":"Credit Suisse Is In Crisis. What Went Wrong?","url":"https://stock-news.laohu8.com/highlight/detail?id=1178433847","media":"Bloomberg","summary":"Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discreti","content":"<div>\n<p>Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discretion and dull reliability. That only makes the scandals, public legal battles and mounting losses at ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Credit Suisse Is In Crisis. What Went Wrong?</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\">\nCredit Suisse Is In Crisis. What Went Wrong?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-16 07:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discretion and dull reliability. That only makes the scandals, public legal battles and mounting losses at ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling\">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.bloomberg.com/news/articles/2023-03-15/credit-suisse-what-s-going-on-and-why-is-cs-stock-falling","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178433847","content_text":"Switzerland’s role as banker to the world’s rich is built on a reputation for institutional discretion and dull reliability. That only makes the scandals, public legal battles and mounting losses at Credit Suisse Group AG more striking and hard to comprehend. In mid-March, unease about the bank’s mounting problems snowballed and its shares slumped, forcing management to appeal to Swiss banking authorities for a public vote of confidence.1. What went wrong?Credit Suisse’s failings have included a criminal conviction for allowing drug dealers to launder money in Bulgaria, entanglement in a Mozambique corruption case, a spying scandal involving a former employee and an executive and a massive leak of client data to the media. Its association with disgraced financier Lex Greensill and failed New York-based investment firm Archegos Capital Management compounded the sense of an institution that didn’t have a firm grip on its affairs. Many fed up clients have voted with their feet, leading to unprecedented client outflows in late 2022.2. What triggered the latest share slump?Chief Executive Officer Ulrich Koerner launched a massive outreach to woo back nervous clients and their cash. The effort appeared to be paying off by January, with it reported “net positive” deposits. However, on March 9, the US Securities and Exchange Commission queried the bank’s annual report, forcing it to delay its publication. Panic spread after regional US lender Silicon Valley Bank failed, the victim in part of risky investments and rising global interest rates that eroded the value of its bond holdings. Investors began ditching anything that smelled of banking risk and deposit flight.3. How bad did the situation get?On March 15, Credit Suisse stock slumped anew when the chairman of its largest shareholder, Saudi National Bank, ruled out investing any more in the company. This prompted Credit Suisse to ask the Swiss central bank for a public statement of support. The cost of insuring the bank’s bonds against default for one year surged to levels not seen for major international banks since the financial crisis of 2008. As other banks sought to hedge their counterparty risk for transactions with Credit Suisse, quoted prices for a one-year credit default swap jumped from 836 basis points, indicating a probability of defaulting of 10%, on March 14 to higher than 3,000 basis points. Few actual trades were executed, however, as liquidity in the market dried up. In another sign of stress, Credit Suisse’s additional tier 1 bonds — which are subordinate to all other ranks of debt and may be written down if capital falls below a predetermined level — were trading below 80% of face value, a level typically signaling distress. Even bonds coming due in April traded at prices well below face value.4. Is this another Lehman Brothers moment?The Wall Street giant, whose failure in 2008 triggered the global financial crisis, succumbed when funding dried up and other banks stopped dealing with it. Unlike Lehman and SVB, Credit Suisse has substantial liquid assets to call upon and access to central bank lending facilities and is less sensitive than many rivals to sharp moves in interest rates. It has rebuilt its cushion against more deposit withdrawals since the worst wave of outflows in October. It also has enough money-like liquid assets to pay back half of all its liabilities in deposits and loans from other banks, according to Bloomberg Opinion banking columnist Paul J. Davies. Koerner said the firm’s liquidity coverage ratio showed it can handle over a month of heavy outflows in a period of stress.5. What else is Koerner doing to turn things around?His three-year recovery plan involves 9,000 job cuts, dismantling the investment banking behemoth assembled over five decades and returning Credit Suisse to its origins as banker to the world’s ultra-wealthy. That means spinning off First Boston, an American investment bank it acquired in 1990 with a view to listing it in 2025, and selling parts of its securitized products unit to Apollo Global Management Inc. That process is now at risk of becoming bogged down in a broader financial-sector selloff following the collapse of SVB and two other US banks.","news_type":1,"symbols_score_info":{"CS":0.9}},"isVote":1,"tweetType":1,"viewCount":3630,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":266035157848288,"gmtCreate":1705970525515,"gmtModify":1705970529117,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"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":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/266035157848288","repostId":"265863699812488","repostType":1,"repost":{"id":265863699812488,"gmtCreate":1705928715142,"gmtModify":1705928745330,"author":{"id":"9000000000000448","authorId":"9000000000000448","name":"Tiger_story","avatar":"https://community-static.tradeup.com/news/fadf643dc834b9ce2a65e9f9d0a73f7e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"9000000000000448","idStr":"9000000000000448"},"themes":[],"title":"Bulls and Bears on Wall Street: A Chronological Odyssey of Market Swings","htmlText":"Witness history! <a href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> hits record high, U.S. stock market officially enters bull market on last Friday.In the vivid tapestry of the stock market, the terms \"bull market\" and \"bear market\" trace their roots to a fascinating origin. Picture a vibrant Wall Street where market trends emulate the behaviors of two powerful animals: the bullish charge and the bearish retreat.A look at bear and bull markets through historyThe Bull Market: An 18th Century AscentIn the 18th century, traders discerned a correlation between rising markets and increased profits, birthing the term \"bull market.\" Bulls, with their upward-thrusting horns, became the symbol of the ascending surge in stock prices.Fast forward to the roaring twenties—a golden era for","listText":"Witness history! <a href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> hits record high, U.S. stock market officially enters bull market on last Friday.In the vivid tapestry of the stock market, the terms \"bull market\" and \"bear market\" trace their roots to a fascinating origin. Picture a vibrant Wall Street where market trends emulate the behaviors of two powerful animals: the bullish charge and the bearish retreat.A look at bear and bull markets through historyThe Bull Market: An 18th Century AscentIn the 18th century, traders discerned a correlation between rising markets and increased profits, birthing the term \"bull market.\" Bulls, with their upward-thrusting horns, became the symbol of the ascending surge in stock prices.Fast forward to the roaring twenties—a golden era for","text":"Witness history! $S&P 500(.SPX)$ hits record high, U.S. stock market officially enters bull market on last Friday.In the vivid tapestry of the stock market, the terms \"bull market\" and \"bear market\" trace their roots to a fascinating origin. Picture a vibrant Wall Street where market trends emulate the behaviors of two powerful animals: the bullish charge and the bearish retreat.A look at bear and bull markets through historyThe Bull Market: An 18th Century AscentIn the 18th century, traders discerned a correlation between rising markets and increased profits, birthing the term \"bull market.\" Bulls, with their upward-thrusting horns, became the symbol of the ascending surge in stock prices.Fast forward to the roaring twenties—a golden era for","images":[{"img":"https://community-static.tradeup.com/news/0c173ffc9f2fa73d48a871392089b59f","width":"560","height":"240"},{"img":"https://community-static.tradeup.com/news/1b06fe0eca41913babab3aa177ac5b19","width":"929","height":"523"},{"img":"https://community-static.tradeup.com/news/9456ade3fbc0af6572bf9a072a80cfcd","width":"4001","height":"2000"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/265863699812488","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":3,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":3039,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949423410,"gmtCreate":1678839980531,"gmtModify":1678839985173,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Gigi Gigi bib","listText":"Gigi Gigi bib","text":"Gigi Gigi bib","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9949423410","repostId":"1109251500","repostType":2,"repost":{"id":"1109251500","kind":"news","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":1678835043,"share":"https://ttm.financial/m/news/1109251500?lang=en_US&edition=fundamental","pubTime":"2023-03-15 07:04","market":"us","language":"en","title":"Wall Street Ends Green As Inflation Cools, Bank Jitters Ebb","url":"https://stock-news.laohu8.com/highlight/detail?id=1109251500","media":"Reuters","summary":"(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitte","content":"<html><head></head><body><p>(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve&#39;s policy meeting next week.</p><p>All three major U.S. stock indexes closed sharply higher, with the S&amp;P 500 and the Dow gaining more than 1% and the tech-heavy Nasdaq surging more than 2%, after several sessions of risk-off turmoil driven by the fallout surrounding the implosion of Silicon Valley Bank and Signature Bank.</p><p>Financial stocks clawed back some losses, with the S&amp;P 500 Banks index coming back from its steepest one-day sell-off since June 2020.</p><p>The KBW Regional Banking index rose 2.1%.</p><p>Bank contagion fears were allayed on Tuesday as U.S. President Joe Biden and other global policymakers vowed the crisis would be contained.</p><p>&#34;The market is having an opportunity to digest some of the news over the last couple of days,&#34; said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. &#34;(Investors) are seeing a coordinated effort with various government agencies, and with hindsight, they’re feeling as if things have contained themselves a bit.&#34;</p><p>The Labor Department&#39;s CPI report showed consumer prices cooled in February, largely in line with market expectations, with headline and core measures notching welcome annual declines.</p><p>Even so, inflation has a considerable way to go before approaching the central bank&#39;s average annual 2% target.</p><p>But signs of economic softness, combined with the regional banking scare, have increased the odds that the Federal Reserve will implement a modest, 25 basis-point hike to its key interest rate at the conclusion of its two-day policy meeting on March 22.</p><p>Financial markets have now priced in a 74.5% likelihood that the central bank will raise the Fed funds target rate by an additional 25 basis points at the conclusion of its two-day monetary meeting later this month, with a growing minority - 25.5% - seeing the potential of no rate hike at all, according to CME&#39;s FedWatch tool.</p><p>&#34;Part of the stabilization today is folks feeling as if the Fed might back off from some of the hawkish expectations that followed Chairman Powell&#39;s comments last week,&#34; Keator added.</p><p>&#34;If the Fed isn&#39;t careful, they could create some unintended shocks to the system,&#34; he said.</p><p>Shock waves following the closure of Silicon Valley Bank and Signature Bank, which prompted Biden to vow he would contain the crisis and ensure the safety of the U.S. banking system, continued to reverberate throughout the sector.</p><p>The S&amp;P 500 banking index reclaimed territory, rising 2.6% after Monday&#39;s plunge, its biggest one-day drop since June 2020.</p><p>The Dow Jones Industrial Average rose 336.26 points, or 1.06%, to 32,155.4, the S&amp;P 500 gained 64.8 points, or 1.68%, to 3,920.56 and the Nasdaq Composite added 239.31 points, or 2.14%, to 11,428.15.</p><p>All 11 major sectors in the S&amp;P 500 ended the trading day higher, with communication services enjoying the largest percentage advance.</p><p>Shares of First Republic Bank and Western Alliance Bancorp surged by 27.0% and 14.4%, respectively, in a reversal of the previous session&#39;s rout.</p><p>Meta Platforms Inc announced 10,000 job cuts in its second round of layoffs. Its stock advanced 7.3%.</p><p>Ride-hailing app rivals Uber Technologies Inc and Lyft Inc rose 5.0% and 0.6%, respectively, after a California state court revived a ballot measure allowing the companies to treat drivers as independent contractors rather than employees.</p><p>United Airlines Holdings Inc fell 5.4% after the commercial carrier unexpectedly forecast a current quarter loss.</p><p>AMC Entertainment Holdings slid 15.0% between multiple trading halts after its shareholders voted in favor of converting preferred stock into common shares.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.60-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 3 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 23 new highs and 195 new lows.</p><p>Volume on U.S. exchanges was 13.84 billion shares, compared with the 11.64 billion average over the last 20 trading days.</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>Wall Street Ends Green As Inflation Cools, Bank Jitters Ebb</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; 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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\">\nWall Street Ends Green As Inflation Cools, Bank Jitters Ebb\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\">2023-03-15 07:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve&#39;s policy meeting next week.</p><p>All three major U.S. stock indexes closed sharply higher, with the S&amp;P 500 and the Dow gaining more than 1% and the tech-heavy Nasdaq surging more than 2%, after several sessions of risk-off turmoil driven by the fallout surrounding the implosion of Silicon Valley Bank and Signature Bank.</p><p>Financial stocks clawed back some losses, with the S&amp;P 500 Banks index coming back from its steepest one-day sell-off since June 2020.</p><p>The KBW Regional Banking index rose 2.1%.</p><p>Bank contagion fears were allayed on Tuesday as U.S. President Joe Biden and other global policymakers vowed the crisis would be contained.</p><p>&#34;The market is having an opportunity to digest some of the news over the last couple of days,&#34; said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. &#34;(Investors) are seeing a coordinated effort with various government agencies, and with hindsight, they’re feeling as if things have contained themselves a bit.&#34;</p><p>The Labor Department&#39;s CPI report showed consumer prices cooled in February, largely in line with market expectations, with headline and core measures notching welcome annual declines.</p><p>Even so, inflation has a considerable way to go before approaching the central bank&#39;s average annual 2% target.</p><p>But signs of economic softness, combined with the regional banking scare, have increased the odds that the Federal Reserve will implement a modest, 25 basis-point hike to its key interest rate at the conclusion of its two-day policy meeting on March 22.</p><p>Financial markets have now priced in a 74.5% likelihood that the central bank will raise the Fed funds target rate by an additional 25 basis points at the conclusion of its two-day monetary meeting later this month, with a growing minority - 25.5% - seeing the potential of no rate hike at all, according to CME&#39;s FedWatch tool.</p><p>&#34;Part of the stabilization today is folks feeling as if the Fed might back off from some of the hawkish expectations that followed Chairman Powell&#39;s comments last week,&#34; Keator added.</p><p>&#34;If the Fed isn&#39;t careful, they could create some unintended shocks to the system,&#34; he said.</p><p>Shock waves following the closure of Silicon Valley Bank and Signature Bank, which prompted Biden to vow he would contain the crisis and ensure the safety of the U.S. banking system, continued to reverberate throughout the sector.</p><p>The S&amp;P 500 banking index reclaimed territory, rising 2.6% after Monday&#39;s plunge, its biggest one-day drop since June 2020.</p><p>The Dow Jones Industrial Average rose 336.26 points, or 1.06%, to 32,155.4, the S&amp;P 500 gained 64.8 points, or 1.68%, to 3,920.56 and the Nasdaq Composite added 239.31 points, or 2.14%, to 11,428.15.</p><p>All 11 major sectors in the S&amp;P 500 ended the trading day higher, with communication services enjoying the largest percentage advance.</p><p>Shares of First Republic Bank and Western Alliance Bancorp surged by 27.0% and 14.4%, respectively, in a reversal of the previous session&#39;s rout.</p><p>Meta Platforms Inc announced 10,000 job cuts in its second round of layoffs. Its stock advanced 7.3%.</p><p>Ride-hailing app rivals Uber Technologies Inc and Lyft Inc rose 5.0% and 0.6%, respectively, after a California state court revived a ballot measure allowing the companies to treat drivers as independent contractors rather than employees.</p><p>United Airlines Holdings Inc fell 5.4% after the commercial carrier unexpectedly forecast a current quarter loss.</p><p>AMC Entertainment Holdings slid 15.0% between multiple trading halts after its shareholders voted in favor of converting preferred stock into common shares.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.60-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 3 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 23 new highs and 195 new lows.</p><p>Volume on U.S. exchanges was 13.84 billion shares, compared with the 11.64 billion average over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109251500","content_text":"(Reuters) - U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve's policy meeting next week.All three major U.S. stock indexes closed sharply higher, with the S&P 500 and the Dow gaining more than 1% and the tech-heavy Nasdaq surging more than 2%, after several sessions of risk-off turmoil driven by the fallout surrounding the implosion of Silicon Valley Bank and Signature Bank.Financial stocks clawed back some losses, with the S&P 500 Banks index coming back from its steepest one-day sell-off since June 2020.The KBW Regional Banking index rose 2.1%.Bank contagion fears were allayed on Tuesday as U.S. President Joe Biden and other global policymakers vowed the crisis would be contained.\"The market is having an opportunity to digest some of the news over the last couple of days,\" said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. \"(Investors) are seeing a coordinated effort with various government agencies, and with hindsight, they’re feeling as if things have contained themselves a bit.\"The Labor Department's CPI report showed consumer prices cooled in February, largely in line with market expectations, with headline and core measures notching welcome annual declines.Even so, inflation has a considerable way to go before approaching the central bank's average annual 2% target.But signs of economic softness, combined with the regional banking scare, have increased the odds that the Federal Reserve will implement a modest, 25 basis-point hike to its key interest rate at the conclusion of its two-day policy meeting on March 22.Financial markets have now priced in a 74.5% likelihood that the central bank will raise the Fed funds target rate by an additional 25 basis points at the conclusion of its two-day monetary meeting later this month, with a growing minority - 25.5% - seeing the potential of no rate hike at all, according to CME's FedWatch tool.\"Part of the stabilization today is folks feeling as if the Fed might back off from some of the hawkish expectations that followed Chairman Powell's comments last week,\" Keator added.\"If the Fed isn't careful, they could create some unintended shocks to the system,\" he said.Shock waves following the closure of Silicon Valley Bank and Signature Bank, which prompted Biden to vow he would contain the crisis and ensure the safety of the U.S. banking system, continued to reverberate throughout the sector.The S&P 500 banking index reclaimed territory, rising 2.6% after Monday's plunge, its biggest one-day drop since June 2020.The Dow Jones Industrial Average rose 336.26 points, or 1.06%, to 32,155.4, the S&P 500 gained 64.8 points, or 1.68%, to 3,920.56 and the Nasdaq Composite added 239.31 points, or 2.14%, to 11,428.15.All 11 major sectors in the S&P 500 ended the trading day higher, with communication services enjoying the largest percentage advance.Shares of First Republic Bank and Western Alliance Bancorp surged by 27.0% and 14.4%, respectively, in a reversal of the previous session's rout.Meta Platforms Inc announced 10,000 job cuts in its second round of layoffs. Its stock advanced 7.3%.Ride-hailing app rivals Uber Technologies Inc and Lyft Inc rose 5.0% and 0.6%, respectively, after a California state court revived a ballot measure allowing the companies to treat drivers as independent contractors rather than employees.United Airlines Holdings Inc fell 5.4% after the commercial carrier unexpectedly forecast a current quarter loss.AMC Entertainment Holdings slid 15.0% between multiple trading halts after its shareholders voted in favor of converting preferred stock into common shares.Advancing issues outnumbered declining ones on the NYSE by a 2.60-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored advancers.The S&P 500 posted 3 new 52-week highs and 15 new lows; the Nasdaq Composite recorded 23 new highs and 195 new lows.Volume on U.S. exchanges was 13.84 billion shares, compared with the 11.64 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":3832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940641074,"gmtCreate":1677895634598,"gmtModify":1677895639241,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Hdudifjf","listText":"Hdudifjf","text":"Hdudifjf","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":15,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940641074","repostId":"1124571052","repostType":4,"isVote":1,"tweetType":1,"viewCount":2825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891723928,"gmtCreate":1628432385364,"gmtModify":1703506184761,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Oil","listText":"Oil","text":"Oil","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/891723928","repostId":"2157901414","repostType":4,"repost":{"id":"2157901414","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":1628406621,"share":"https://ttm.financial/m/news/2157901414?lang=en_US&edition=fundamental","pubTime":"2021-08-08 15:10","market":"fut","language":"en","title":"Saudi Aramco Q2 profit soars on higher prices, demand recovery","url":"https://stock-news.laohu8.com/highlight/detail?id=2157901414","media":"Reuters","summary":"DUBAI, Aug 8 (Reuters) - Saudi Arabian state oil producer Aramco on Sunday reported a near four-fold","content":"<p>DUBAI, Aug 8 (Reuters) - Saudi Arabian state oil producer Aramco on Sunday reported a near four-fold rise in second-quarter net profit, boosted by higher oil prices and a recovery on oil demand.</p>\n<p>Aramco said its results were supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating economic activity in key markets.</p>\n<p>Oil prices, boosted by output cuts made by OPEC and other oil producers, closed at $70.70 a barrel on Friday and has gained over 35% since the start of the year.</p>\n<p>Net profit rose to 95.47 billion riyals ($25.46 billion) for the quarter to June 30 from 24.62 billion riyals a year earlier.</p>\n<p>Analysts had expected a net profit of $23.2 billion, according to the mean estimate from five analysts.</p>\n<p>It declared a dividend of $18.8 billion in the second quarter, which will be paid in the third quarter.</p>\n<p>\"Our second quarter results reflect a strong rebound in worldwide energy demand and we are heading into the second half of 2021 more resilient and more flexible, as the global recovery gains momentum,\" Aramco CEO Amin Nasser said in a statement.</p>\n<p>Aramco raised $6 billion in June with its first U.S. dollar-denominated sukuk sale, that was expected to help fund a large dividend that will mostly go to the government.</p>\n<p>A consortium including Washington DC-based EIG Global Energy Partners in June closed a deal to buy 49% of Aramco's pipelines business for $12.4 billion.</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>Saudi Aramco Q2 profit soars on higher prices, demand recovery</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\">\nSaudi Aramco Q2 profit soars on higher prices, demand recovery\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\">2021-08-08 15:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>DUBAI, Aug 8 (Reuters) - Saudi Arabian state oil producer Aramco on Sunday reported a near four-fold rise in second-quarter net profit, boosted by higher oil prices and a recovery on oil demand.</p>\n<p>Aramco said its results were supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating economic activity in key markets.</p>\n<p>Oil prices, boosted by output cuts made by OPEC and other oil producers, closed at $70.70 a barrel on Friday and has gained over 35% since the start of the year.</p>\n<p>Net profit rose to 95.47 billion riyals ($25.46 billion) for the quarter to June 30 from 24.62 billion riyals a year earlier.</p>\n<p>Analysts had expected a net profit of $23.2 billion, according to the mean estimate from five analysts.</p>\n<p>It declared a dividend of $18.8 billion in the second quarter, which will be paid in the third quarter.</p>\n<p>\"Our second quarter results reflect a strong rebound in worldwide energy demand and we are heading into the second half of 2021 more resilient and more flexible, as the global recovery gains momentum,\" Aramco CEO Amin Nasser said in a statement.</p>\n<p>Aramco raised $6 billion in June with its first U.S. dollar-denominated sukuk sale, that was expected to help fund a large dividend that will mostly go to the government.</p>\n<p>A consortium including Washington DC-based EIG Global Energy Partners in June closed a deal to buy 49% of Aramco's pipelines business for $12.4 billion.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QTWO":"Q2 Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2157901414","content_text":"DUBAI, Aug 8 (Reuters) - Saudi Arabian state oil producer Aramco on Sunday reported a near four-fold rise in second-quarter net profit, boosted by higher oil prices and a recovery on oil demand.\nAramco said its results were supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating economic activity in key markets.\nOil prices, boosted by output cuts made by OPEC and other oil producers, closed at $70.70 a barrel on Friday and has gained over 35% since the start of the year.\nNet profit rose to 95.47 billion riyals ($25.46 billion) for the quarter to June 30 from 24.62 billion riyals a year earlier.\nAnalysts had expected a net profit of $23.2 billion, according to the mean estimate from five analysts.\nIt declared a dividend of $18.8 billion in the second quarter, which will be paid in the third quarter.\n\"Our second quarter results reflect a strong rebound in worldwide energy demand and we are heading into the second half of 2021 more resilient and more flexible, as the global recovery gains momentum,\" Aramco CEO Amin Nasser said in a statement.\nAramco raised $6 billion in June with its first U.S. dollar-denominated sukuk sale, that was expected to help fund a large dividend that will mostly go to the government.\nA consortium including Washington DC-based EIG Global Energy Partners in June closed a deal to buy 49% of Aramco's pipelines business for $12.4 billion.","news_type":1,"symbols_score_info":{"QTWO":0.9,"QMmain":0.9,"CLmain":0.9}},"isVote":1,"tweetType":1,"viewCount":807,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154320016,"gmtCreate":1625481732635,"gmtModify":1703742466164,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Closed","listText":"Closed","text":"Closed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/154320016","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://ttm.financial/m/news/1109703914?lang=en_US&edition=fundamental","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p>\n<p>So will the major markets open or close for the holiday?</p>\n<p>The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p>\n<p>It's&nbsp;one of nine full-closing daysfor the stock market this year.</p>\n<p>For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p>\n<p>Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</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>Is the Stock Market Open or Closed on Independence Day?</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\">\nIs the Stock Market Open or Closed on Independence Day?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-05 13:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours><strong>Thestreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the...</p>\n\n<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">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",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":820,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863192367,"gmtCreate":1632362371959,"gmtModify":1676530763207,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"ahhhhhhh","listText":"ahhhhhhh","text":"ahhhhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/863192367","repostId":"2169650271","repostType":4,"isVote":1,"tweetType":1,"viewCount":788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154512990,"gmtCreate":1625534053210,"gmtModify":1703743143771,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Gosh","listText":"Gosh","text":"Gosh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/154512990","repostId":"1190430616","repostType":4,"isVote":1,"tweetType":1,"viewCount":863,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887217737,"gmtCreate":1632044497929,"gmtModify":1676530692145,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"Why","listText":"Why","text":"Why","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/887217737","repostId":"1198486138","repostType":4,"isVote":1,"tweetType":1,"viewCount":953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819953431,"gmtCreate":1630029347023,"gmtModify":1676530204354,"author":{"id":"4087962553382210","authorId":"4087962553382210","name":"DDRuirong","avatar":"https://static.tigerbbs.com/e62b9f0ee7be0f31ba8377413632ae92","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087962553382210","idStr":"4087962553382210"},"themes":[],"htmlText":"…..","listText":"…..","text":"…..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/819953431","repostId":"2162847016","repostType":4,"isVote":1,"tweetType":1,"viewCount":861,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}