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PeanutButterMonster

PeanutButterMonster

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PeanutButterMonster

2024-01-30

Great article

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PeanutButterMonster

2023-10-02

Yay

Aemetis Biogas Closes $53 Million Sale of IRA Tax Credits

PeanutButterMonster

2023-05-24

Revenue vs market cap also very big multiple

1 Monster Opportunity in the Global Chip Shortage

PeanutButterMonster

2023-05-02

Yay

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PeanutButterMonster

2023-05-02

Did First Republic Back management escape unscathed??

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PeanutButterMonster

2023-05-01

Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting

Charlie Munger: US Banks Are "Full of" Bad Commercial Property Loans

PeanutButterMonster

2023-04-27

Concerning

AEM's Margins May be Squeezed by Key Client's Cost-Cutting Moves -- Market Talk

PeanutButterMonster

2023-04-27

A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?

4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends

PeanutButterMonster

2023-04-26

Don't underestimate Google

Sorry, the original content has been removed

PeanutButterMonster

2023-04-24

Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....

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PeanutButterMonster

2023-04-24

Fed is in between a rock and a hard place

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PeanutButterMonster

2023-04-24

Envelopes design could be converted to ang pow design for Netflix customers

Sorry, the original content has been removed

PeanutButterMonster

2023-04-23

Might as well play roulette

Day Traders Lose $358,000 Per Day Gambling on Zero-Day Options

PeanutButterMonster

2023-04-23

Keep interating.. They will get there

Sorry, the original content has been removed

PeanutButterMonster

2023-04-23

Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips

The Battle for the Future of the Car Is On. Tech Is a Weapon

PeanutButterMonster

2023-04-23

Never a dull moment with Musk

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PeanutButterMonster

2023-04-21

Tractor supply company is interesting, not generally mentioned

Sorry, the original content has been removed

PeanutButterMonster

2023-04-18

Maybe 420 is Elon's lucky charm

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PeanutButterMonster

2023-04-18

Now the everyday Joe can become a quant

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PeanutButterMonster

2023-04-15

One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?

Sorry, the original content has been removed

Go to Tiger App to see more news

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natural gas production; additional $800 million of IRA investment and production tax credits expected in the next four years from Aemetis renewable fuel projects </i></b></p> <p>via NewMediaWire – <b>Aemetis, Inc. </b>(NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, closed the sale of $53 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary Aemetis Biogas LLC to a corporate purchaser on September 29, 2023. This sale is the company’s first IRA tax credit transaction.  The Section 48 investment tax credits were generated from biogas projects built by Aemetis Biogas, including six diary digesters, a biogas pipeline and a renewable natural gas (RNG) production facility.</p> <p>The Inflation Reduction Act was signed into law in August 2022, and provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products. </p> <p>“We believe that this $53 million tax credit sale is the largest IRA tax credit transaction in the dairy biogas industry, demonstrating the transferability of tax credits under the federal Inflation Reduction Act and the ability of renewable fuels projects to generate funding from IRA tax credits to support investments,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis Five Year Plan is expected to qualify for more than $800 million of IRA investment and production tax credits during the next four years to support our biogas projects, CO2 re-use by our ethanol plant, the construction of our sustainable aviation fuel plant and CO2 sequestration.”</p> <p>Aemetis Biogas is building anaerobic digesters at California dairies to capture biomethane from animal waste. Aemetis has seven operating digesters and is actively growing with an additional five digesters under construction and a total of the 37 dairies under contract to supply animal waste. After removal of contaminants and pressurization of gas at the dairy, a biogas pipeline connects the dairies to a centralized facility located at the Aemetis Keyes ethanol plant where the biogas is upgraded into below zero carbon intensity RNG.  The RNG is injected into PG&amp;E’s natural gas pipeline for delivery to transportation fuel customers in California. <br/>Aemetis is also building its own RNG fueling station at the Keyes ethanol plant to fuel trucks with locally produced renewable natural gas that provides a 90% reduction in emissions compared to petroleum diesel fuel.</p> <p>Approximately 25% of the methane emissions in California are emitted from dairy waste lagoons. When fully built, the Aemetis biogas project plans to capture methane from the waste produced by more than 150,000 cows at dairy farms in California, producing 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is designed to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over ten years, equal to removing the emissions from approximately 150,000 cars per year.</p> <p><b>About Aemetis</b></p> <p>Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit <u>www.aemetis.com</u>.</p> <p><b>Safe Harbor Statement </b></p> <p>This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the development, construction and operation of the Aemetis Biogas RNG project, the SAF and renewable diesel plant, and the carbon capture and sequestration wells, as well as our ability to qualify for the receipt and transferability of tax credits under the Inflation Reduction Act, expected greenhouse gas emission reductions from the completed Aemetis Biogas RNG project, the development of biogas upgrading facilities, and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022 and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.</p> <p><strong>External Investor Relations</strong><br/><strong>Contact:</strong><br/>Kirin Smith<br/>PCG Advisory Group<br/>(646) 863-6519<br/><u>ksmith@pcgadvisory.com</u></p> <p><strong>Company Investor Relations/</strong><br/><strong>Media Contact:</strong><br/>Todd Waltz<br/>(408) 213-0940<br/><u>investors@aemetis.com</u></p> <br/><img referrerpolicy=\"no-referrer-when-downgrade\" src=\"https://ml.globenewswire.com/media/NWU5ZjJhZGMtYTQ2Ny00OTM0LTk3ZTEtN2RlMjkyM2NiYzBlLTUwMDA0NzQ1MQ==/tiny/Aemetis-Inc-.png\"/></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>Aemetis Biogas Closes $53 Million Sale of IRA Tax Credits</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\">\nAemetis Biogas Closes $53 Million Sale of IRA Tax Credits\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1016364462\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">GlobeNewswire </p>\n<p class=\"h-time\">2023-10-02 12:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>CUPERTINO, CA, Oct.  02, 2023  (GLOBE NEWSWIRE) -- <br/></p> <p><b><i>Tax credits generated by investment in negative carbon intensity renewable natural gas production; additional $800 million of IRA investment and production tax credits expected in the next four years from Aemetis renewable fuel projects </i></b></p> <p>via NewMediaWire – <b>Aemetis, Inc. </b>(NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, closed the sale of $53 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary Aemetis Biogas LLC to a corporate purchaser on September 29, 2023. This sale is the company’s first IRA tax credit transaction.  The Section 48 investment tax credits were generated from biogas projects built by Aemetis Biogas, including six diary digesters, a biogas pipeline and a renewable natural gas (RNG) production facility.</p> <p>The Inflation Reduction Act was signed into law in August 2022, and provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products. </p> <p>“We believe that this $53 million tax credit sale is the largest IRA tax credit transaction in the dairy biogas industry, demonstrating the transferability of tax credits under the federal Inflation Reduction Act and the ability of renewable fuels projects to generate funding from IRA tax credits to support investments,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis Five Year Plan is expected to qualify for more than $800 million of IRA investment and production tax credits during the next four years to support our biogas projects, CO2 re-use by our ethanol plant, the construction of our sustainable aviation fuel plant and CO2 sequestration.”</p> <p>Aemetis Biogas is building anaerobic digesters at California dairies to capture biomethane from animal waste. Aemetis has seven operating digesters and is actively growing with an additional five digesters under construction and a total of the 37 dairies under contract to supply animal waste. After removal of contaminants and pressurization of gas at the dairy, a biogas pipeline connects the dairies to a centralized facility located at the Aemetis Keyes ethanol plant where the biogas is upgraded into below zero carbon intensity RNG.  The RNG is injected into PG&amp;E’s natural gas pipeline for delivery to transportation fuel customers in California. <br/>Aemetis is also building its own RNG fueling station at the Keyes ethanol plant to fuel trucks with locally produced renewable natural gas that provides a 90% reduction in emissions compared to petroleum diesel fuel.</p> <p>Approximately 25% of the methane emissions in California are emitted from dairy waste lagoons. When fully built, the Aemetis biogas project plans to capture methane from the waste produced by more than 150,000 cows at dairy farms in California, producing 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is designed to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over ten years, equal to removing the emissions from approximately 150,000 cars per year.</p> <p><b>About Aemetis</b></p> <p>Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit <u>www.aemetis.com</u>.</p> <p><b>Safe Harbor Statement </b></p> <p>This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the development, construction and operation of the Aemetis Biogas RNG project, the SAF and renewable diesel plant, and the carbon capture and sequestration wells, as well as our ability to qualify for the receipt and transferability of tax credits under the Inflation Reduction Act, expected greenhouse gas emission reductions from the completed Aemetis Biogas RNG project, the development of biogas upgrading facilities, and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022 and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.</p> <p><strong>External Investor Relations</strong><br/><strong>Contact:</strong><br/>Kirin Smith<br/>PCG Advisory Group<br/>(646) 863-6519<br/><u>ksmith@pcgadvisory.com</u></p> <p><strong>Company Investor Relations/</strong><br/><strong>Media Contact:</strong><br/>Todd Waltz<br/>(408) 213-0940<br/><u>investors@aemetis.com</u></p> <br/><img referrerpolicy=\"no-referrer-when-downgrade\" src=\"https://ml.globenewswire.com/media/NWU5ZjJhZGMtYTQ2Ny00OTM0LTk3ZTEtN2RlMjkyM2NiYzBlLTUwMDA0NzQ1MQ==/tiny/Aemetis-Inc-.png\"/></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMTX":"Aemetis Inc","RNG":"Ringcentral Inc.","BK4138":"石油与天然气的炼制和营销","BK4528":"SaaS概念","BK4023":"应用软件","BK4585":"ETF&股票定投概念"},"source_url":"https://www.globenewswire.com/news-release/2023/10/02/2752715/0/en/Aemetis-Biogas-Closes-53-Million-Sale-of-IRA-Tax-Credits.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2372881570","content_text":"CUPERTINO, CA, Oct.  02, 2023  (GLOBE NEWSWIRE) --  Tax credits generated by investment in negative carbon intensity renewable natural gas production; additional $800 million of IRA investment and production tax credits expected in the next four years from Aemetis renewable fuel projects  via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, closed the sale of $53 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary Aemetis Biogas LLC to a corporate purchaser on September 29, 2023. This sale is the company’s first IRA tax credit transaction.  The Section 48 investment tax credits were generated from biogas projects built by Aemetis Biogas, including six diary digesters, a biogas pipeline and a renewable natural gas (RNG) production facility. The Inflation Reduction Act was signed into law in August 2022, and provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products.  “We believe that this $53 million tax credit sale is the largest IRA tax credit transaction in the dairy biogas industry, demonstrating the transferability of tax credits under the federal Inflation Reduction Act and the ability of renewable fuels projects to generate funding from IRA tax credits to support investments,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis Five Year Plan is expected to qualify for more than $800 million of IRA investment and production tax credits during the next four years to support our biogas projects, CO2 re-use by our ethanol plant, the construction of our sustainable aviation fuel plant and CO2 sequestration.” Aemetis Biogas is building anaerobic digesters at California dairies to capture biomethane from animal waste. Aemetis has seven operating digesters and is actively growing with an additional five digesters under construction and a total of the 37 dairies under contract to supply animal waste. After removal of contaminants and pressurization of gas at the dairy, a biogas pipeline connects the dairies to a centralized facility located at the Aemetis Keyes ethanol plant where the biogas is upgraded into below zero carbon intensity RNG.  The RNG is injected into PG&E’s natural gas pipeline for delivery to transportation fuel customers in California. Aemetis is also building its own RNG fueling station at the Keyes ethanol plant to fuel trucks with locally produced renewable natural gas that provides a 90% reduction in emissions compared to petroleum diesel fuel. Approximately 25% of the methane emissions in California are emitted from dairy waste lagoons. When fully built, the Aemetis biogas project plans to capture methane from the waste produced by more than 150,000 cows at dairy farms in California, producing 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is designed to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over ten years, equal to removing the emissions from approximately 150,000 cars per year. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com. Safe Harbor Statement  This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the development, construction and operation of the Aemetis Biogas RNG project, the SAF and renewable diesel plant, and the carbon capture and sequestration wells, as well as our ability to qualify for the receipt and transferability of tax credits under the Inflation Reduction Act, expected greenhouse gas emission reductions from the completed Aemetis Biogas RNG project, the development of biogas upgrading facilities, and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022 and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws. External Investor RelationsContact:Kirin SmithPCG Advisory Group(646) 863-6519ksmith@pcgadvisory.com Company Investor Relations/Media Contact:Todd Waltz(408) 213-0940investors@aemetis.com","news_type":1,"symbols_score_info":{"AMTX":1,"RNG":1}},"isVote":1,"tweetType":1,"viewCount":2719,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9970798332,"gmtCreate":1684928023626,"gmtModify":1684928027829,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Revenue vs market cap also very big multiple&nbsp;","listText":"Revenue vs market cap also very big multiple&nbsp;","text":"Revenue vs market cap also very big multiple","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970798332","repostId":"2337457950","repostType":2,"repost":{"id":"2337457950","kind":"highlight","pubTimestamp":1684927292,"share":"https://ttm.financial/m/news/2337457950?lang=en_US&edition=fundamental","pubTime":"2023-05-24 19:21","market":"us","language":"en","title":"1 Monster Opportunity in the Global Chip Shortage","url":"https://stock-news.laohu8.com/highlight/detail?id=2337457950","media":"Motley Fool","summary":"This chip giant seems to be enjoying solid demand thanks to the growing adoption of artificial intelligence applications.","content":"<div>\n<p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/\">Source Link</a>\n\n</div>\n","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>1 Monster Opportunity in the Global Chip Shortage</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\">\n1 Monster Opportunity in the Global Chip Shortage\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-24 19:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2337457950","content_text":"The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed thanks to shelter-in-place orders, and it led to a spurt in sales of personal computers (PCs), gaming consoles, and smartphones, among other things.While the semiconductor shortage has eased somewhat since (partly because the pent-up demand for consumer electronics devices subsided and because chipmakers brought more capacity online), there is one area where chip scarcity is rearing its head once again.Tech-focused business publication The Information pointed out last month that there was a massive spike in demand for server chips required for training and running artificial intelligence (AI) applications. That's not surprising as the AI chip market is expected to generate over $227 billion in annual revenue by 2032, clocking yearly growth of 30% over the next decade.One company stands to win big from this market -- Nvidia. And the evidence for that can be seen in the emerging shortage of AI chips. Let's take a closer look at what's going on in the chip markets and how it might benefit Nvidia stock owners.Customers are reportedly waiting to get their hands on Nvidia's chipsAccording to The Information, cloud infrastructure providers such as Amazon, Microsoft, Alphabet's Google, and Oracle are running at capacity thanks to the booming demand for AI software. Training and running AI software and workload requires graphics processing units (GPUs), which are chips capable of computing massive amounts of data.Nvidia is the leader in the GPU market. The company controls 85% of discrete graphics cards that are used by gamers in PCs, while its share of enterprise GPUs (which are deployed in data centers for AI and other workloads) reportedly stands at more than 90%. So, it is not surprising to see that there is a waiting period for Nvidia's GPUs.The semiconductor giant is reportedly sitting on an order backlog of two to three months for its cloud server chips. It is now feared that the waiting time for Nvidia's chips will slow down the development of generative AI applications. However, there are a few reasons why Nvidia may be able to overcome this shortage and speed up customers' AI initiatives.The tech giant is setting itself up to take advantage of this massive marketNvidia is reportedly placing more chip orders with its foundry partner Taiwan Semiconductor Manufacturing, popularly known as TSMC. Taiwan-based newspaper DigiTimes reports that TSMC has reportedly committed to delivering 10% to 20% additional chip on wafer on substrate (CoWoS) packaging to Nvidia that is meant for deployment in high-performance computing (HPC) applications.More importantly, Nvidia's new generation of data center GPUs could reduce the number of chips needed to train and run AI models. The company's latest generation H100 Hopper data center GPUs are reportedly up to 9 times faster in training AI models and 30 times faster during inferencing. What's more, Nvidia is providing access to a much faster AI chip at prices that are reportedly two to three times its previous generation A100 data center GPUs that are powering Microsoft and OpenAI's popular chatbot ChatGPT.In simpler words, Nvidia customers can now tackle much larger AI workloads with the H100 GPUs at an incrementally lower price as compared to the company's prior-generation A100 GPUs. So, it won't be surprising to see the demand for Nvidia's H100 GPUs improve in the future, especially considering that customers will need fewer of those chips to meet their AI-related needs.Given that the H100 GPUs are priced significantly higher than their predecessors, Nvidia could witness stronger margins and enjoy robust earnings growth in the long run. The good part is that Nvidia's H100 GPUs are already witnessing healthy demand as they are powering multiple generative AI applications from different customers.All this indicates that Nvidia could continue to dominate the AI chip market. One Wall Street analyst says that the AI opportunity could lead to a 5-times jump in Nvidia's stock price over the next decade. So, investors who are still of two minds about buying Nvidia stock following its 114% gains in 2023 can still consider buying the stock.Of course, some might argue that Nvidia trades at an expensive 173 times trailing earnings right now. However, its forward price-to-earnings (P/E) ratio of 67 points toward a solid bottom-line jump, which means that investors with the risk appetite to buy this richly valued AI stock can still buy it as it can deliver more upside even after terrific gains in 2023.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1935,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947699624,"gmtCreate":1683018859669,"gmtModify":1683018863415,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947699624","repostId":"2332934815","repostType":2,"isVote":1,"tweetType":1,"viewCount":2165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947601218,"gmtCreate":1683006487435,"gmtModify":1683006959041,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Did First Republic Back management escape unscathed??","listText":"Did First Republic Back management escape unscathed??","text":"Did First Republic Back management escape unscathed??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947601218","repostId":"2332671317","repostType":2,"isVote":1,"tweetType":1,"viewCount":2271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947884445,"gmtCreate":1682924140888,"gmtModify":1682924145309,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","listText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","text":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947884445","repostId":"1139971500","repostType":2,"repost":{"id":"1139971500","kind":"news","pubTimestamp":1682898506,"share":"https://ttm.financial/m/news/1139971500?lang=en_US&edition=fundamental","pubTime":"2023-05-01 07:48","market":"us","language":"en","title":"Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans","url":"https://stock-news.laohu8.com/highlight/detail?id=1139971500","media":"Financial Times","summary":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American ban","content":"<div>\n<p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old...</p>\n\n<a href=\"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b\">Source Link</a>\n\n</div>\n","source":"lsy1580170736413","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCharlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-01 07:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b><strong>Financial Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old...</p>\n\n<a href=\"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BX":"黑石","BRK.B":"伯克希尔B","BAC":"美国银行","C":"花旗","JPM":"摩根大通","WFC":"富国银行","BRK.A":"伯克希尔"},"source_url":"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139971500","content_text":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.”Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles where he has lived for 60 years since he designed the property himself.Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.”Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.”Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.”This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&P 500 stock index, since 1965.“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding he had lived during “a perfect period to be a common stock investor”.He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities ”, he said.Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.”Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.”Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.”On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”","news_type":1,"symbols_score_info":{"BRK.A":0.9,"JPM":0.9,"BRK.B":0.9,"BAC":0.9,"WFC":0.9,"BX":0.9,"C":0.9}},"isVote":1,"tweetType":1,"viewCount":2681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947365795,"gmtCreate":1682587375617,"gmtModify":1682587379214,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Concerning","listText":"Concerning","text":"Concerning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947365795","repostId":"2302045599","repostType":2,"repost":{"id":"2302045599","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":1673399340,"share":"https://ttm.financial/m/news/2302045599?lang=en_US&edition=fundamental","pubTime":"2023-01-11 09:09","market":"us","language":"en","title":"AEM's Margins May be Squeezed by Key Client's Cost-Cutting Moves -- Market Talk","url":"https://stock-news.laohu8.com/highlight/detail?id=2302045599","media":"Dow Jones","summary":"0109 GMT - AEM Holdings' margins could be squeezed, with its key customer Intel aiming to cut costs ","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0109 GMT - AEM Holdings' margins could be squeezed, with its key customer Intel aiming to cut costs by US$3 billion in 2023 and up to US$10 billion by 2025, says Maybank Research analyst Jarick Seet in a research report. Intel could negotiate on margins with key suppliers if things deteriorate and the Singapore provider of semiconductor test solutions may be affected, the analyst says. The weak outlook from its key customer along with a looming recession in Europe and the U.S. suggest a lack of positive catalysts going forward and downside risk is evident, the analyst says. Maybank lowers the stock's rating to sell from hold and cuts the target price to S$3.08 from S$3.43. The stock is 1.5% higher at S$3.41. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 10, 2023 20:09 ET (01:09 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AEM's Margins May be Squeezed by Key Client's Cost-Cutting Moves -- Market Talk</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\">\nAEM's Margins May be Squeezed by Key Client's Cost-Cutting Moves -- Market Talk\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\">2023-01-11 09:09</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0109 GMT - AEM Holdings' margins could be squeezed, with its key customer Intel aiming to cut costs by US$3 billion in 2023 and up to US$10 billion by 2025, says Maybank Research analyst Jarick Seet in a research report. Intel could negotiate on margins with key suppliers if things deteriorate and the Singapore provider of semiconductor test solutions may be affected, the analyst says. The weak outlook from its key customer along with a looming recession in Europe and the U.S. suggest a lack of positive catalysts going forward and downside risk is evident, the analyst says. Maybank lowers the stock's rating to sell from hold and cuts the target price to S$3.08 from S$3.43. The stock is 1.5% higher at S$3.41. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 10, 2023 20:09 ET (01:09 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK6063":"半导体设备","BK6515":"技术设备股","AEM":"伊格尔矿业","BK4017":"黄金","AWX.SI":"永科"},"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2302045599","content_text":"0109 GMT - AEM Holdings' margins could be squeezed, with its key customer Intel aiming to cut costs by US$3 billion in 2023 and up to US$10 billion by 2025, says Maybank Research analyst Jarick Seet in a research report. Intel could negotiate on margins with key suppliers if things deteriorate and the Singapore provider of semiconductor test solutions may be affected, the analyst says. The weak outlook from its key customer along with a looming recession in Europe and the U.S. suggest a lack of positive catalysts going forward and downside risk is evident, the analyst says. Maybank lowers the stock's rating to sell from hold and cuts the target price to S$3.08 from S$3.43. The stock is 1.5% higher at S$3.41. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 10, 2023 20:09 ET (01:09 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","news_type":1,"symbols_score_info":{"AWX.SI":0.9,"AEM":1}},"isVote":1,"tweetType":1,"viewCount":1871,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947365448,"gmtCreate":1682587333984,"gmtModify":1682587337911,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?","listText":"A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?","text":"A year from now, which of the 4 stocks above all give the best return in price appreciation and dividend?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947365448","repostId":"2326938109","repostType":2,"repost":{"id":"2326938109","kind":"highlight","pubTimestamp":1681437412,"share":"https://ttm.financial/m/news/2326938109?lang=en_US&edition=fundamental","pubTime":"2023-04-14 09:56","market":"sg","language":"en","title":"4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends","url":"https://stock-news.laohu8.com/highlight/detail?id=2326938109","media":"The Smart Investor","summary":"These four stocks may be temporarily affected by the microchip downturn, but remain poised to pay out higher dividends once the recovery takes hold.","content":"<div>\n<p>The world enjoyed a strong surge in demand for personal computers (PCs), mobile phones and connected devices as the pandemic pushed many to go online.As we pass the third year after the pandemic broke...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/4-singapore-semiconductor-stocks-well-positioned-to-pay-higher-dividends/\">Source Link</a>\n\n</div>\n","source":"thesmartinvestor_highlight","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>4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends</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\">\n4 Singapore Semiconductor Stocks Well-Positioned to Pay Higher Dividends\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-14 09:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/4-singapore-semiconductor-stocks-well-positioned-to-pay-higher-dividends/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The world enjoyed a strong surge in demand for personal computers (PCs), mobile phones and connected devices as the pandemic pushed many to go online.As we pass the third year after the pandemic broke...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/4-singapore-semiconductor-stocks-well-positioned-to-pay-higher-dividends/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AWX.SI":"永科","558.SI":"UMS控股","V03.SI":"创业公司"},"source_url":"https://thesmartinvestor.com.sg/4-singapore-semiconductor-stocks-well-positioned-to-pay-higher-dividends/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2326938109","content_text":"The world enjoyed a strong surge in demand for personal computers (PCs), mobile phones and connected devices as the pandemic pushed many to go online.As we pass the third year after the pandemic broke out, this demand has started to wane.A combination of weak demand, excess inventory and an uncertain macroeconomic climate has led to a sharp drop in PCs for 2023’s first quarter (1Q 2023).Global shipments contracted 29% year on year for 1Q 2023, with blue-chip technology firm Apple (NASDAQ: AAPL) seeing a 40% year-on-year plunge.No downturn lasts forever, though.When the upturn arrives, semiconductor-related stocks will be in a great position to enjoy higher profits.And when they do so, they will also be able to dole out higher dividends.Here are four such stocks that are well-positioned to benefit from the inevitable recovery.UMS Holdings Limited (SGX: 558)UMS does not seem to be affected yet by the downturn in the semiconductor industry.The group provides equipment manufacturing and engineering services to original equipment manufacturers of semiconductors and related products.UMS’ revenue for 2022 jumped 37% year on year to S$372.3 million while its net profit surged 85% year on year to S$98.2 million.The group also churned out a positive free cash flow of S$41.8 million last year.A final dividend of S$0.02 was proposed, similar to what was paid out in the prior year.Total dividends for 2022 came up to S$0.05, giving the manufacturer’s shares a historical dividend yield of 4.5%.CEO Andy Luong expects demand in the next six months to head down but the group’s order book remains healthy and it will continue to expand its capacity to prepare for customer orders.He remains upbeat about UMS’ prospects as both the semiconductor and aerospace industries have “bright futures” that should help to drive growth for the group in the years ahead.Venture Corporation Ltd (SGX: V03)Venture Corporation is a provider of technology products, services and solutions and serves a wide variety of sectors such as life sciences, medical devices and equipment, and networking and communications.It also manages a portfolio of more than 5,000 products and solutions.The group reported a decent set of earnings for 2022, with revenue climbing 24.3% year on year to S$3.9 billion.Net profit improved by 18.4% year on year to S$369.6 million.Venture’s free cash flow also surged 160.3% year on year from S$90.5 million in 2021 to S$235.5 million in 2022.A total dividend of S$0.75 was paid out in 2022, unchanged from a year ago, giving Venture’s shares a trailing dividend yield of 4.2%The group has acknowledged that the economic environment remains uncertain but it will continue to deepen its relationship with its customers to ensure a consistent flow of business.AEM Holdings Ltd (SGX: AWX)AEM is a test innovation leader that provides comprehensive semiconductor and electronic test solutions.The semiconductor slowdown had a noticeable effect on AEM’s second-half 2022 (2H 2022) results.Revenue fell by 12% year on year to S$330 million while operating profit declined by 24% year on year to S$57.2 million.Net profit plunged by 30% year on year to S$44 million.Despite the weaker results, AEM paid out a total dividend of S$0.103 for 2022, higher than the S$0.076 paid out the year before. As it stands, shares yield around 3.1%.Management is providing a weak revenue guidance of just S$500 million for 2023 (2022’s revenue: S$870.5 million) as rising interest rates lead to lower capital expenditure amid a supply glut.The group should see its revenue from its new customers more than double in 2023, which should make up partially for this weakness.Management remains confident that its Test 2.0 solutions can continue to serve its customers well for its next-generation product lines.Grand Venture Technology Ltd (SGX: JLB)Grand Venture is a solution and services provider for the manufacture of complex precision machining, sheet metal components, and mechatronics modules.Its portfolio of customers comes from the semiconductor, electronics, aerospace, medical, and life sciences sectors.Revenue for 2022 rose 12.8% year on year to S$131.1 million.Net profit, however, tumbled 24.1% year on year to S$13.3 million.Grand Venture declared a final dividend of S$0.003, below the S$0.005 paid out a year ago.Together with the interim dividend of S$0.003, the total dividend for 2022 came up to S$0.006, giving its shares a trailing dividend yield of 1.2%.Demand from the back-end semiconductor was impacted but it was balanced out by better performances from the Life Sciences, Aerospace, and Medical industries.The group remains optimistic about the mid to long-term fundamentals underpinning the semiconductor sector.It has also onboarded new front-end semiconductor clients and should see capacity utilisation improvements in the later part of 2023.","news_type":1,"symbols_score_info":{"JLB.SI":1,"AWX.SI":0.9,"558.SI":0.9,"V03.SI":1}},"isVote":1,"tweetType":1,"viewCount":1997,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947945462,"gmtCreate":1682511138456,"gmtModify":1682511143624,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Don't underestimate Google","listText":"Don't underestimate Google","text":"Don't underestimate Google","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947945462","repostId":"1164465293","repostType":4,"isVote":1,"tweetType":1,"viewCount":2740,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944775173,"gmtCreate":1682302674992,"gmtModify":1682302679971,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....","listText":"Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....","text":"Assuming working 5 day week or 260 days a year... He would earn SGD 1 million every day he shows up, imagine winning toto every weekday for a year....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944775173","repostId":"2329320400","repostType":4,"isVote":1,"tweetType":1,"viewCount":1958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944772719,"gmtCreate":1682302365731,"gmtModify":1682304425740,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Fed is in between a rock and a hard place","listText":"Fed is in between a rock and a hard place","text":"Fed is in between a rock and a hard place","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944772719","repostId":"1111405907","repostType":2,"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944748412,"gmtCreate":1682266078737,"gmtModify":1682266084048,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Envelopes design could be converted to ang pow design for Netflix customers","listText":"Envelopes design could be converted to ang pow design for Netflix customers","text":"Envelopes design could be converted to ang pow design for Netflix customers","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944748412","repostId":"2329214540","repostType":2,"isVote":1,"tweetType":1,"viewCount":642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944740200,"gmtCreate":1682254367500,"gmtModify":1682298863021,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Might as well play roulette&nbsp;","listText":"Might as well play roulette&nbsp;","text":"Might as well play roulette","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944740200","repostId":"2329008911","repostType":4,"repost":{"id":"2329008911","kind":"highlight","pubTimestamp":1682088000,"share":"https://ttm.financial/m/news/2329008911?lang=en_US&edition=fundamental","pubTime":"2023-04-21 22:40","market":"us","language":"en","title":"Day Traders Lose $358,000 Per Day Gambling on Zero-Day Options","url":"https://stock-news.laohu8.com/highlight/detail?id=2329008911","media":"Bloomberg","summary":"New study tallies retail’s misfortune during the trading boomResearchers warn about growing risk sho","content":"<div>\n<p>New study tallies retail’s misfortune during the trading boomResearchers warn about growing risk should 0DTE broaden outDay traders are paying a price for their newfound love affair with one of the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-04-21/day-traders-lose-358-000-per-day-gambling-on-zero-day-options?srnd=premium\">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>Day Traders Lose $358,000 Per Day Gambling on Zero-Day Options</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\">\nDay Traders Lose $358,000 Per Day Gambling on Zero-Day Options\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-21 22:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-04-21/day-traders-lose-358-000-per-day-gambling-on-zero-day-options?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New study tallies retail’s misfortune during the trading boomResearchers warn about growing risk should 0DTE broaden outDay traders are paying a price for their newfound love affair with one of the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-04-21/day-traders-lose-358-000-per-day-gambling-on-zero-day-options?srnd=premium\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4112":"金融交易所和数据",".SPX":"S&P 500 Index",".DJI":"道琼斯","BK4581":"高盛持仓","BK4532":"文艺复兴科技持仓","BK4504":"桥水持仓","BK4559":"巴菲特持仓",".IXIC":"NASDAQ Composite","CBOE":"芝加哥期权交易所","BK4550":"红杉资本持仓","BK4588":"碎股","BK4585":"ETF&股票定投概念"},"source_url":"https://www.bloomberg.com/news/articles/2023-04-21/day-traders-lose-358-000-per-day-gambling-on-zero-day-options?srnd=premium","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2329008911","content_text":"New study tallies retail’s misfortune during the trading boomResearchers warn about growing risk should 0DTE broaden outDay traders are paying a price for their newfound love affair with one of the hottest trades in the equity market. Rushing to join the trading frenzy in options with ultra-short lifespans, known as 0DTE for zero-days to expiration, small-time investors find themselves struggling to make it work. A fresh study from researchers at the University of Muenster in Germany shows the crowd may have lost $358,000 a day since May 2022, when it became possible to trade expiring contracts every day. The record is alarming, but probably not a huge surprise. By one estimate, amateur investors took a billion-dollar bath dabbling in stock options during the pandemic boom. The new game of 0DTE is more challenging in many ways, among them the tight timeframe in which wagers need to work out. The paper, titled Retail Traders Love 0DTE Options... But Should They?, is a reminder to investors and regulators alike that the latest investment innovations may not always be suitable for everyone. “We are seeing the study as a cautionary tale,” Heiner Beckmeyer, who co-authored the study along with Nicole Branger and Leander Gayda, said in an interview. “These 0DTE options have huge leverage. They’re a one-or-zero bet, so you have the opportunity to make a lot of money, but you also have the opportunity to lose a lot. And that’s what we find in the paper that on average, it seems to be to the detriment of these retail investors.”Source: “Retail Traders Love 0DTE Options... But Should They?” by Heiner Beckmeyer, Nicole Branger and Leander GaydaZero-day options first garnered mainstream attention when retail investors embraced them as a cheap way of gambling during the meme-stock era in 2021. While the current craze involves indexes like the S&P 500 and has been driven by professional traders, 0DTE’s high-risk, high-reward potential — and potentially quick payoff — appeals profoundly to amateurs too. By the researchers’ estimate, the retail crowd’s market share in 0DTE trading volume has expanded, topping 6% in 2022 versus 4% in the prior year. Among all of the cohort’s trades in S&P 500 options, such flashy contracts make up more than 75% of the total. For all the engagement, however, the wagers largely failed to pay off. While they did fairly well writing options, decisions to buy them suffered badly. All told, day traders lost $20 million as a result of poor positioning in about two years through February 2023. The bill climbed to more than $70 million when the cost of doing business with market makers was factored in. To be sure, it’s not easy to make money in a new instrument that even Wall Street pros don’t seem to fully understand. To have an edge, one has to be extremely vigilant and nimble — and probably lucky. A JPMorgan Chase & Co. analysis showed that while buying or selling 0DTE options tended to be profitable in the first 10 minutes of trading, two-thirds of the gains came in the first minute. In the study by the University of Muenster researchers, they tracked all 0DTE transactions that were identified as being initiated by retail, netted them out as orders came in, and tallied a return at the end of each day.  They found the day-trader army has lost money on a net basis every month since Cboe Global Markets Inc. added Tuesday and Thursday expiration options for the S&P 500, expanding existing products to cover each weekday.“Their hunger for lottery-like assets leads to large aggregate losses,” the researchers wrote in the paper. “Should daily expirations be rolled out for single equity options, the potential losses retail investors face are amplified manifold.”Cboe didn’t respond to a request for comment.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.6,"CBOE":0.9}},"isVote":1,"tweetType":1,"viewCount":640,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944740655,"gmtCreate":1682254278677,"gmtModify":1682254282777,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Keep interating.. They will get there","listText":"Keep interating.. They will get there","text":"Keep interating.. They will get there","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944740655","repostId":"2329408112","repostType":2,"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944740803,"gmtCreate":1682254171702,"gmtModify":1682254175963,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","listText":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","text":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944740803","repostId":"2328127653","repostType":2,"repost":{"id":"2328127653","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":1682214554,"share":"https://ttm.financial/m/news/2328127653?lang=en_US&edition=fundamental","pubTime":"2023-04-23 09:49","market":"us","language":"en","title":"The Battle for the Future of the Car Is On. Tech Is a Weapon","url":"https://stock-news.laohu8.com/highlight/detail?id=2328127653","media":"Dow Jones","summary":"Never mind ChatGPT. The next big computing platform has already arrived -- and it's sitting in your ","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a44d87dd9a6937cf6eedef3e262cc7\" tg-width=\"1260\" tg-height=\"840\"/></p><p>Never mind ChatGPT. The next big computing platform has already arrived -- and it&#39;s sitting in your driveway.</p><p>The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.</p><p>This isn&#39;t to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on &#34;software-defined vehicles&#34; today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.</p><p>As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.</p><p>&#34;There are now more lines of code in the average car than there are in a Boeing 747,&#34; says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.</p><p>The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> Google increasingly control the entertainment and navigation experience.</p><p>&#34;They aren&#39;t just selling a car,&#34; Vachani says of the auto makers. &#34;They can own a customer experience for years, and they need to monetize that. It&#39;s almost a matter of survival for them.&#34;</p><p>Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors <a href=\"https://laohu8.com/S/GM\">$(GM)$</a> said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple&#39;s CarPlay or Google&#39;s Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.</p><p>&#34;We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,&#34; GM said.</p><p>Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker&#39;s mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company&#39;s autonomous-driving platform. Other auto makers are following a similar path.</p><p>The industry&#39;s push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. &#34;It&#39;s a must-have feature when shopping for a new vehicle,&#34; Emily Schubert, Apple&#39;s senior manager for car-experience engineering said at June&#39;s Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.</p><p>During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone&#39;s territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.</p><p>Apple name-checked numerous auto makers -- Ford Motor <a href=\"https://laohu8.com/S/F\">$(F)$</a>, Honda Motor <a href=\"https://laohu8.com/S/HMC\">$(HMC)$</a>, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year&#39;s WWDC, coming up in early June.</p><p>Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that&#39;s licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.</p><p>For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.</p><p>&#34;The auto makers want to retain their brands,&#34; says Danny Shapiro, Nvidia&#39;s vice president of automotive. &#34;They want to differentiate. And there will be a lot of revenue from transactions.&#34;</p><p>&#34;When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,&#34; adds Nakul Duggal, Qualcomm&#39;s senior vice president for automotive. &#34;Auto makers need to understand what customers like or don&#39;t like. If you lose that primary interface, that&#39;s a big challenge.&#34;</p><p>The good news for investors is they don&#39;t have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.</p><p>Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company&#39;s push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company&#39;s system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.</p><p>Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a> is taking a similar approach with its vision to be the provider of the &#34;digital chassis,&#34; taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.</p><p>Memory-chip maker Micron Technology <a href=\"https://laohu8.com/S/MU\">$(MU)$</a> has said that the automotive industry offers the company&#39;s best long-term growth opportunity.</p><p>And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.</p><p>Arm&#39;s Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. &#34;Consumers want their cars to provide the look and feel they experience on their mobile phone,&#34; she says. &#34;That&#39;s an experience we understand.&#34; Arm&#39;s designs power iPhone chips, servers, and other computing gear.</p><p>Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.</p><p>Ambarella <a href=\"https://laohu8.com/S/AMBA\">$(AMBA)$</a>, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai&#39;s Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.</p><p>Samsung&#39;s Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman&#39;s president of automotive, says that electrification of the powertrain is &#34;not that differentiating,&#34; putting pressure on the companies to find other ways to stand out.</p><p>Harman offers a heads-up display called &#34;Ready Vision&#34; that projects relevant driving data onto the windshield, so that it&#39;s in the driver&#39;s field of vision. &#34;Ready Care&#34; is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.</p><p>Even BlackBerry <a href=\"https://laohu8.com/S/BB\">$(BB)$</a>, once a dominant player in mobile phones, has refocused on security and automotive software. The company&#39;s IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association&#39;s CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers&#39; EV &#34;range anxiety.&#34;</p><p>Technology, of course, isn&#39;t new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, &#34;electronic control units,&#34; or ECUs.</p><p>Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.</p><p>&#34;Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,&#34; says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. &#34;Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.&#34;</p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p> Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”</p><p style=\"text-align: left;\">As cars add more code and connectivity, consumers will be pressured to pick up the tab.</p><p style=\"text-align: left;\">There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.</p><p style=\"text-align: left;\">Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. </p><p style=\"text-align: left;\">Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”</p><p style=\"text-align: left;\">Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”</p><p style=\"text-align: left;\">General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. </p><p style=\"text-align: left;\">GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.</p><p style=\"text-align: left;\">Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).</p><p style=\"text-align: left;\">BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.</p><p style=\"text-align: left;\">The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.</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>The Battle for the Future of the Car Is On. Tech Is a Weapon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Battle for the Future of the Car Is On. Tech Is a Weapon\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\">2023-04-23 09:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a44d87dd9a6937cf6eedef3e262cc7\" tg-width=\"1260\" tg-height=\"840\"/></p><p>Never mind ChatGPT. The next big computing platform has already arrived -- and it&#39;s sitting in your driveway.</p><p>The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.</p><p>This isn&#39;t to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on &#34;software-defined vehicles&#34; today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.</p><p>As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.</p><p>&#34;There are now more lines of code in the average car than there are in a Boeing 747,&#34; says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.</p><p>The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> Google increasingly control the entertainment and navigation experience.</p><p>&#34;They aren&#39;t just selling a car,&#34; Vachani says of the auto makers. &#34;They can own a customer experience for years, and they need to monetize that. It&#39;s almost a matter of survival for them.&#34;</p><p>Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors <a href=\"https://laohu8.com/S/GM\">$(GM)$</a> said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple&#39;s CarPlay or Google&#39;s Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.</p><p>&#34;We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,&#34; GM said.</p><p>Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker&#39;s mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company&#39;s autonomous-driving platform. Other auto makers are following a similar path.</p><p>The industry&#39;s push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. &#34;It&#39;s a must-have feature when shopping for a new vehicle,&#34; Emily Schubert, Apple&#39;s senior manager for car-experience engineering said at June&#39;s Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.</p><p>During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone&#39;s territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.</p><p>Apple name-checked numerous auto makers -- Ford Motor <a href=\"https://laohu8.com/S/F\">$(F)$</a>, Honda Motor <a href=\"https://laohu8.com/S/HMC\">$(HMC)$</a>, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year&#39;s WWDC, coming up in early June.</p><p>Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that&#39;s licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.</p><p>For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.</p><p>&#34;The auto makers want to retain their brands,&#34; says Danny Shapiro, Nvidia&#39;s vice president of automotive. &#34;They want to differentiate. And there will be a lot of revenue from transactions.&#34;</p><p>&#34;When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,&#34; adds Nakul Duggal, Qualcomm&#39;s senior vice president for automotive. &#34;Auto makers need to understand what customers like or don&#39;t like. If you lose that primary interface, that&#39;s a big challenge.&#34;</p><p>The good news for investors is they don&#39;t have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.</p><p>Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company&#39;s push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company&#39;s system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.</p><p>Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a> is taking a similar approach with its vision to be the provider of the &#34;digital chassis,&#34; taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.</p><p>Memory-chip maker Micron Technology <a href=\"https://laohu8.com/S/MU\">$(MU)$</a> has said that the automotive industry offers the company&#39;s best long-term growth opportunity.</p><p>And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.</p><p>Arm&#39;s Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. &#34;Consumers want their cars to provide the look and feel they experience on their mobile phone,&#34; she says. &#34;That&#39;s an experience we understand.&#34; Arm&#39;s designs power iPhone chips, servers, and other computing gear.</p><p>Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.</p><p>Ambarella <a href=\"https://laohu8.com/S/AMBA\">$(AMBA)$</a>, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai&#39;s Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.</p><p>Samsung&#39;s Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman&#39;s president of automotive, says that electrification of the powertrain is &#34;not that differentiating,&#34; putting pressure on the companies to find other ways to stand out.</p><p>Harman offers a heads-up display called &#34;Ready Vision&#34; that projects relevant driving data onto the windshield, so that it&#39;s in the driver&#39;s field of vision. &#34;Ready Care&#34; is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.</p><p>Even BlackBerry <a href=\"https://laohu8.com/S/BB\">$(BB)$</a>, once a dominant player in mobile phones, has refocused on security and automotive software. The company&#39;s IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association&#39;s CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers&#39; EV &#34;range anxiety.&#34;</p><p>Technology, of course, isn&#39;t new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, &#34;electronic control units,&#34; or ECUs.</p><p>Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.</p><p>&#34;Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,&#34; says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. &#34;Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.&#34;</p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p> Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”</p><p style=\"text-align: left;\">As cars add more code and connectivity, consumers will be pressured to pick up the tab.</p><p style=\"text-align: left;\">There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.</p><p style=\"text-align: left;\">Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. </p><p style=\"text-align: left;\">Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”</p><p style=\"text-align: left;\">Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”</p><p style=\"text-align: left;\">General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. </p><p style=\"text-align: left;\">GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.</p><p style=\"text-align: left;\">Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).</p><p style=\"text-align: left;\">BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.</p><p style=\"text-align: left;\">The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","GOOG":"谷歌","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4507":"流媒体概念","AAPL":"苹果","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","TSLA":"特斯拉","QCOM":"高通","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","BK4525":"远程办公概念","BK4561":"索罗斯持仓","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0823411888.USD":"法巴消费创新基金 Cap","BK4554":"元宇宙及AR概念","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4532":"文艺复兴科技持仓","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","BK4543":"AI","BK4527":"明星科技股","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0823414478.USD":"法巴经典能源转换基金","LU0056508442.USD":"贝莱德世界科技基金A2","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","BK4567":"ESG概念","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4571":"数字音乐概念","BK4559":"巴菲特持仓","BK4585":"ETF&股票定投概念","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4576":"AR","BK4555":"新能源车","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4547":"WSB热门概念","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2328127653","content_text":"Never mind ChatGPT. The next big computing platform has already arrived -- and it's sitting in your driveway.The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.This isn't to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on \"software-defined vehicles\" today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.\"There are now more lines of code in the average car than there are in a Boeing 747,\" says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet's $(GOOGL)$ Google increasingly control the entertainment and navigation experience.\"They aren't just selling a car,\" Vachani says of the auto makers. \"They can own a customer experience for years, and they need to monetize that. It's almost a matter of survival for them.\"Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors $(GM)$ said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple's CarPlay or Google's Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.\"We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,\" GM said.Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker's mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company's autonomous-driving platform. Other auto makers are following a similar path.The industry's push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. \"It's a must-have feature when shopping for a new vehicle,\" Emily Schubert, Apple's senior manager for car-experience engineering said at June's Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone's territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.Apple name-checked numerous auto makers -- Ford Motor $(F)$, Honda Motor $(HMC)$, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year's WWDC, coming up in early June.Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that's licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.\"The auto makers want to retain their brands,\" says Danny Shapiro, Nvidia's vice president of automotive. \"They want to differentiate. And there will be a lot of revenue from transactions.\"\"When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,\" adds Nakul Duggal, Qualcomm's senior vice president for automotive. \"Auto makers need to understand what customers like or don't like. If you lose that primary interface, that's a big challenge.\"The good news for investors is they don't have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.Nvidia $(NVDA)$ is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company's push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company's system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.Qualcomm $(QCOM)$ is taking a similar approach with its vision to be the provider of the \"digital chassis,\" taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.Memory-chip maker Micron Technology $(MU)$ has said that the automotive industry offers the company's best long-term growth opportunity.And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.Arm's Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. \"Consumers want their cars to provide the look and feel they experience on their mobile phone,\" she says. \"That's an experience we understand.\" Arm's designs power iPhone chips, servers, and other computing gear.Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.Ambarella $(AMBA)$, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai's Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.Samsung's Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman's president of automotive, says that electrification of the powertrain is \"not that differentiating,\" putting pressure on the companies to find other ways to stand out.Harman offers a heads-up display called \"Ready Vision\" that projects relevant driving data onto the windshield, so that it's in the driver's field of vision. \"Ready Care\" is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.Even BlackBerry $(BB)$, once a dominant player in mobile phones, has refocused on security and automotive software. The company's IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association's CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers' EV \"range anxiety.\"Technology, of course, isn't new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, \"electronic control units,\" or ECUs.Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.\"Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,\" says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. \"Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.\"The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade.  Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”As cars add more code and connectivity, consumers will be pressured to pick up the tab.There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.","news_type":1,"symbols_score_info":{"TSLA":0.9,"AAPL":0.9,"QCOM":1,"GOOG":0.9}},"isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944722115,"gmtCreate":1682213376938,"gmtModify":1682213381335,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Never a dull moment with Musk","listText":"Never a dull moment with Musk","text":"Never a dull moment with Musk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":21,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944722115","repostId":"2329066914","repostType":2,"isVote":1,"tweetType":1,"viewCount":666,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944453407,"gmtCreate":1682048360210,"gmtModify":1682048363978,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Tractor supply company is interesting, not generally mentioned","listText":"Tractor supply company is interesting, not generally mentioned","text":"Tractor supply company is interesting, not generally mentioned","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944453407","repostId":"1168323116","repostType":2,"isVote":1,"tweetType":1,"viewCount":758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944634256,"gmtCreate":1681822678675,"gmtModify":1681822682613,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Maybe 420 is Elon's lucky charm","listText":"Maybe 420 is Elon's lucky charm","text":"Maybe 420 is Elon's lucky charm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944634256","repostId":"2328938234","repostType":4,"isVote":1,"tweetType":1,"viewCount":631,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944824642,"gmtCreate":1681794459787,"gmtModify":1681794463973,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"Now the everyday Joe can become a quant&nbsp;","listText":"Now the everyday Joe can become a quant&nbsp;","text":"Now the everyday Joe can become a quant","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944824642","repostId":"2328872237","repostType":2,"isVote":1,"tweetType":1,"viewCount":437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945455855,"gmtCreate":1681567092477,"gmtModify":1681567737896,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4107067226858820","authorIdStr":"4107067226858820"},"themes":[],"htmlText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","listText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","text":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945455855","repostId":"2327177777","repostType":2,"isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9084416485,"gmtCreate":1650900207840,"gmtModify":1676534811993,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"He has secured funding and likely to buy Twitter successfully, though I personally would prefer him to not be distracted and concentrate on the science challenges like EVs, SpaceX and Neuralink.. And sending humanity to Mars..rather than wasting his brain cells in the edit button and how much to charge for blue tick..","listText":"He has secured funding and likely to buy Twitter successfully, though I personally would prefer him to not be distracted and concentrate on the science challenges like EVs, SpaceX and Neuralink.. And sending humanity to Mars..rather than wasting his brain cells in the edit button and how much to charge for blue tick..","text":"He has secured funding and likely to buy Twitter successfully, though I personally would prefer him to not be distracted and concentrate on the science challenges like EVs, SpaceX and Neuralink.. And sending humanity to Mars..rather than wasting his brain cells in the edit button and how much to charge for blue tick..","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":61,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9084416485","isVote":1,"tweetType":1,"viewCount":2476,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944722115,"gmtCreate":1682213376938,"gmtModify":1682213381335,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Never a dull moment with Musk","listText":"Never a dull moment with Musk","text":"Never a dull moment with Musk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":21,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944722115","repostId":"2329066914","repostType":2,"isVote":1,"tweetType":1,"viewCount":666,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944740803,"gmtCreate":1682254171702,"gmtModify":1682254175963,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","listText":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","text":"Cars are also becoming karaoke on wheels once autonomous driving is achieved and passengers are bored on their trips","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944740803","repostId":"2328127653","repostType":2,"repost":{"id":"2328127653","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":1682214554,"share":"https://ttm.financial/m/news/2328127653?lang=en_US&edition=fundamental","pubTime":"2023-04-23 09:49","market":"us","language":"en","title":"The Battle for the Future of the Car Is On. Tech Is a Weapon","url":"https://stock-news.laohu8.com/highlight/detail?id=2328127653","media":"Dow Jones","summary":"Never mind ChatGPT. The next big computing platform has already arrived -- and it's sitting in your ","content":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a44d87dd9a6937cf6eedef3e262cc7\" tg-width=\"1260\" tg-height=\"840\"/></p><p>Never mind ChatGPT. The next big computing platform has already arrived -- and it&#39;s sitting in your driveway.</p><p>The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.</p><p>This isn&#39;t to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on &#34;software-defined vehicles&#34; today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.</p><p>As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.</p><p>&#34;There are now more lines of code in the average car than there are in a Boeing 747,&#34; says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.</p><p>The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> Google increasingly control the entertainment and navigation experience.</p><p>&#34;They aren&#39;t just selling a car,&#34; Vachani says of the auto makers. &#34;They can own a customer experience for years, and they need to monetize that. It&#39;s almost a matter of survival for them.&#34;</p><p>Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors <a href=\"https://laohu8.com/S/GM\">$(GM)$</a> said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple&#39;s CarPlay or Google&#39;s Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.</p><p>&#34;We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,&#34; GM said.</p><p>Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker&#39;s mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company&#39;s autonomous-driving platform. Other auto makers are following a similar path.</p><p>The industry&#39;s push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. &#34;It&#39;s a must-have feature when shopping for a new vehicle,&#34; Emily Schubert, Apple&#39;s senior manager for car-experience engineering said at June&#39;s Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.</p><p>During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone&#39;s territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.</p><p>Apple name-checked numerous auto makers -- Ford Motor <a href=\"https://laohu8.com/S/F\">$(F)$</a>, Honda Motor <a href=\"https://laohu8.com/S/HMC\">$(HMC)$</a>, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year&#39;s WWDC, coming up in early June.</p><p>Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that&#39;s licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.</p><p>For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.</p><p>&#34;The auto makers want to retain their brands,&#34; says Danny Shapiro, Nvidia&#39;s vice president of automotive. &#34;They want to differentiate. And there will be a lot of revenue from transactions.&#34;</p><p>&#34;When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,&#34; adds Nakul Duggal, Qualcomm&#39;s senior vice president for automotive. &#34;Auto makers need to understand what customers like or don&#39;t like. If you lose that primary interface, that&#39;s a big challenge.&#34;</p><p>The good news for investors is they don&#39;t have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.</p><p>Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company&#39;s push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company&#39;s system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.</p><p>Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a> is taking a similar approach with its vision to be the provider of the &#34;digital chassis,&#34; taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.</p><p>Memory-chip maker Micron Technology <a href=\"https://laohu8.com/S/MU\">$(MU)$</a> has said that the automotive industry offers the company&#39;s best long-term growth opportunity.</p><p>And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.</p><p>Arm&#39;s Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. &#34;Consumers want their cars to provide the look and feel they experience on their mobile phone,&#34; she says. &#34;That&#39;s an experience we understand.&#34; Arm&#39;s designs power iPhone chips, servers, and other computing gear.</p><p>Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.</p><p>Ambarella <a href=\"https://laohu8.com/S/AMBA\">$(AMBA)$</a>, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai&#39;s Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.</p><p>Samsung&#39;s Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman&#39;s president of automotive, says that electrification of the powertrain is &#34;not that differentiating,&#34; putting pressure on the companies to find other ways to stand out.</p><p>Harman offers a heads-up display called &#34;Ready Vision&#34; that projects relevant driving data onto the windshield, so that it&#39;s in the driver&#39;s field of vision. &#34;Ready Care&#34; is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.</p><p>Even BlackBerry <a href=\"https://laohu8.com/S/BB\">$(BB)$</a>, once a dominant player in mobile phones, has refocused on security and automotive software. The company&#39;s IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association&#39;s CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers&#39; EV &#34;range anxiety.&#34;</p><p>Technology, of course, isn&#39;t new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, &#34;electronic control units,&#34; or ECUs.</p><p>Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.</p><p>&#34;Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,&#34; says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. &#34;Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.&#34;</p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p> Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”</p><p style=\"text-align: left;\">As cars add more code and connectivity, consumers will be pressured to pick up the tab.</p><p style=\"text-align: left;\">There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.</p><p style=\"text-align: left;\">Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. </p><p style=\"text-align: left;\">Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”</p><p style=\"text-align: left;\">Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”</p><p style=\"text-align: left;\">General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. </p><p style=\"text-align: left;\">GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.</p><p style=\"text-align: left;\">Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).</p><p style=\"text-align: left;\">BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.</p><p style=\"text-align: left;\">The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.</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>The Battle for the Future of the Car Is On. Tech Is a Weapon</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Battle for the Future of the Car Is On. Tech Is a Weapon\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\">2023-04-23 09:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a44d87dd9a6937cf6eedef3e262cc7\" tg-width=\"1260\" tg-height=\"840\"/></p><p>Never mind ChatGPT. The next big computing platform has already arrived -- and it&#39;s sitting in your driveway.</p><p>The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.</p><p>This isn&#39;t to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on &#34;software-defined vehicles&#34; today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.</p><p>As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.</p><p>&#34;There are now more lines of code in the average car than there are in a Boeing 747,&#34; says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.</p><p>The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet&#39;s <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> Google increasingly control the entertainment and navigation experience.</p><p>&#34;They aren&#39;t just selling a car,&#34; Vachani says of the auto makers. &#34;They can own a customer experience for years, and they need to monetize that. It&#39;s almost a matter of survival for them.&#34;</p><p>Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors <a href=\"https://laohu8.com/S/GM\">$(GM)$</a> said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple&#39;s CarPlay or Google&#39;s Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.</p><p>&#34;We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,&#34; GM said.</p><p>Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker&#39;s mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company&#39;s autonomous-driving platform. Other auto makers are following a similar path.</p><p>The industry&#39;s push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. &#34;It&#39;s a must-have feature when shopping for a new vehicle,&#34; Emily Schubert, Apple&#39;s senior manager for car-experience engineering said at June&#39;s Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.</p><p>During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone&#39;s territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.</p><p>Apple name-checked numerous auto makers -- Ford Motor <a href=\"https://laohu8.com/S/F\">$(F)$</a>, Honda Motor <a href=\"https://laohu8.com/S/HMC\">$(HMC)$</a>, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year&#39;s WWDC, coming up in early June.</p><p>Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that&#39;s licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.</p><p>For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.</p><p>&#34;The auto makers want to retain their brands,&#34; says Danny Shapiro, Nvidia&#39;s vice president of automotive. &#34;They want to differentiate. And there will be a lot of revenue from transactions.&#34;</p><p>&#34;When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,&#34; adds Nakul Duggal, Qualcomm&#39;s senior vice president for automotive. &#34;Auto makers need to understand what customers like or don&#39;t like. If you lose that primary interface, that&#39;s a big challenge.&#34;</p><p>The good news for investors is they don&#39;t have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.</p><p>Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a> is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company&#39;s push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company&#39;s system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.</p><p>Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a> is taking a similar approach with its vision to be the provider of the &#34;digital chassis,&#34; taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.</p><p>Memory-chip maker Micron Technology <a href=\"https://laohu8.com/S/MU\">$(MU)$</a> has said that the automotive industry offers the company&#39;s best long-term growth opportunity.</p><p>And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.</p><p>Arm&#39;s Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. &#34;Consumers want their cars to provide the look and feel they experience on their mobile phone,&#34; she says. &#34;That&#39;s an experience we understand.&#34; Arm&#39;s designs power iPhone chips, servers, and other computing gear.</p><p>Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.</p><p>Ambarella <a href=\"https://laohu8.com/S/AMBA\">$(AMBA)$</a>, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai&#39;s Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.</p><p>Samsung&#39;s Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman&#39;s president of automotive, says that electrification of the powertrain is &#34;not that differentiating,&#34; putting pressure on the companies to find other ways to stand out.</p><p>Harman offers a heads-up display called &#34;Ready Vision&#34; that projects relevant driving data onto the windshield, so that it&#39;s in the driver&#39;s field of vision. &#34;Ready Care&#34; is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.</p><p>Even BlackBerry <a href=\"https://laohu8.com/S/BB\">$(BB)$</a>, once a dominant player in mobile phones, has refocused on security and automotive software. The company&#39;s IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association&#39;s CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers&#39; EV &#34;range anxiety.&#34;</p><p>Technology, of course, isn&#39;t new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, &#34;electronic control units,&#34; or ECUs.</p><p>Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.</p><p>&#34;Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,&#34; says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. &#34;Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.&#34;</p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p>The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. </p><p> Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”</p><p style=\"text-align: left;\">As cars add more code and connectivity, consumers will be pressured to pick up the tab.</p><p style=\"text-align: left;\">There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.</p><p style=\"text-align: left;\">Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. </p><p style=\"text-align: left;\">Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”</p><p style=\"text-align: left;\">Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”</p><p style=\"text-align: left;\">General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. </p><p style=\"text-align: left;\">GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.</p><p style=\"text-align: left;\">Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).</p><p style=\"text-align: left;\">BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.</p><p style=\"text-align: left;\">The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","GOOG":"谷歌","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","BK4507":"流媒体概念","AAPL":"苹果","LU1923623000.USD":"Natixis Thematics AI & Robotics Fund R/A USD","TSLA":"特斯拉","QCOM":"高通","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","BK4525":"远程办公概念","BK4561":"索罗斯持仓","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU0823411888.USD":"法巴消费创新基金 Cap","BK4554":"元宇宙及AR概念","LU2125909593.SGD":"Natixis Thematics Meta R/A SGD","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4532":"文艺复兴科技持仓","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","BK4543":"AI","BK4527":"明星科技股","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0823414478.USD":"法巴经典能源转换基金","LU0056508442.USD":"贝莱德世界科技基金A2","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","BK4567":"ESG概念","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4571":"数字音乐概念","BK4559":"巴菲特持仓","BK4585":"ETF&股票定投概念","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4576":"AR","BK4555":"新能源车","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4547":"WSB热门概念","LU1951198990.SGD":"Natixis Thematics AI & Robotics Fund H-R/A SGD-H","LU1951200564.SGD":"Natixis Thematics AI & Robotics Fund R/A SGD"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2328127653","content_text":"Never mind ChatGPT. The next big computing platform has already arrived -- and it's sitting in your driveway.The $4 trillion automotive industry is going through three big transformational changes at once. Two of those -- the rise of electric vehicles and the gradual emergence of autonomous driving -- have attracted most of the attention. But the third one could be more powerful still: Cars are becoming computers on wheels.This isn't to diminish the importance of EVs and self-driving cars. But progress there will be measured in decades, while auto makers are pressing ahead on \"software-defined vehicles\" today -- allowing cars to be upgraded and improved on the fly, like a mobile phone. Large screens in cars have subsumed all manner of buttons, switches, and analog dials.As with phones, the digital displays unlock nearly unlimited options and all-new business models, requiring microprocessors, diverse software tools, ubiquitous network connectivity, and large, high-definition displays.\"There are now more lines of code in the average car than there are in a Boeing 747,\" says Dipti Vachani, senior vice president of automotive and Internet of Things for Arm Holdings, the SoftBank Group--owned chip-design house.The progress comes not a moment too soon for car makers. They have been losing ground in their own cockpits, where Apple (ticker: AAPL) and Alphabet's $(GOOGL)$ Google increasingly control the entertainment and navigation experience.\"They aren't just selling a car,\" Vachani says of the auto makers. \"They can own a customer experience for years, and they need to monetize that. It's almost a matter of survival for them.\"Sure enough, after years of welcoming Apple and Google into their cockpits, car makers are now pushing back. Last month, General Motors $(GM)$ said that its future EVs, starting with the 2024 Chevy Blazer EV, would no longer support Apple's CarPlay or Google's Android-based phones. GM will instead offer its own system based on an embedded design of Android Automotive, which will be preinstalled in the car, with custom versions of Google Maps, Spotify, and other applications.\"We will be moving beyond phone-projection systems, namely Apple CarPlay and Android Auto,\" GM said.Mercedes, meanwhile, expects to generate billions of dollars in revenue by 2025 from MB.Connect, the German auto maker's mapping, navigation, and vehicle-monitoring platform, and MB.Drive, the company's autonomous-driving platform. Other auto makers are following a similar path.The industry's push comes as Apple steps up its own car game. Last year, the company said CarPlay was available on over 90% of new cars in the U.S. \"It's a must-have feature when shopping for a new vehicle,\" Emily Schubert, Apple's senior manager for car-experience engineering said at June's Apple Worldwide Developers Conference. She cited research that said that 79% of U.S. buyers would only consider CarPlay-capable vehicles.During her WWDC remarks, Schubert showed off a new prototype of CarPlay that expands the iPhone's territorial reach beyond the center console, giving Apple the entire instrument cluster, including the speedometer and tachometer and in-cabin functions like climate control and navigation -- all with new, Apple-designed icons and dials.Apple name-checked numerous auto makers -- Ford Motor $(F)$, Honda Motor $(HMC)$, Mercedes-Benz, Volvo, and others, though not GM -- that it said were considering adoption of the expanded version of CarPlay. There has been little subsequent news, although Apple had said the first announcements of cars with the new version of CarPlay would come in late 2023. Apple could offer updates at this year's WWDC, coming up in early June.Google is taking a multipronged approach, offering both Android Auto, which operates in a parallel fashion to CarPlay, along with Android Automotive, its embedded software that's licensed directly to automotive manufacturers. In some cases, Google is licensing an embedded but connected version of its Google Maps software to companies like Mercedes, which then offer additional traffic data and vehicle information. With Android Automotive -- which has been adopted in some cars from Ford, Honda, Volkswagen, and others -- the car companies have more control over the applications and presentation of apps inside the car than they do with the current version of CarPlay and Android Auto, which take over cockpit screens entirely.For car makers, the computer industry offers a cautionary tale. Over time, Dell Technologies, HP Inc., and Lenovo -- the once-dominant players in PCs -- became largely interchangeable and commoditized. In their place, Microsoft gained dominance of operating systems; Intel, Advanced Micro Devices, and Nvidia made the most important chips; and Google and others owned the web browser and other key software.\"The auto makers want to retain their brands,\" says Danny Shapiro, Nvidia's vice president of automotive. \"They want to differentiate. And there will be a lot of revenue from transactions.\"\"When auto makers bring Google or Apple functions into the car, they start to lose touch with the consumer,\" adds Nakul Duggal, Qualcomm's senior vice president for automotive. \"Auto makers need to understand what customers like or don't like. If you lose that primary interface, that's a big challenge.\"The good news for investors is they don't have to pick a side as Apple and Alphabet battle the car makers for cockpit supremacy. Instead, they can look to the arms dealers, in particular the chip makers.Nvidia $(NVDA)$ is providing high-powered processors with artificial-intelligence capabilities in more new cars, along with a related set of software tools; autonomous driving is one of the most powerful examples of AI. Nvidia CEO Jensen Huang was a surprise guest at a recent Mercedes event in Silicon Valley to unveil the company's push into software-defined vehicles. Mercedes is using Nvidia chips in Drive Pilot, the company's system for Level 3 autonomous driving, allowing drivers to take their hands off the wheel in some situations.Qualcomm $(QCOM)$ is taking a similar approach with its vision to be the provider of the \"digital chassis,\" taking control of automotive connectivity, battery functions, sensors, cameras, and display screens, as well as Advanced Driver Assistance Systems, or ADAS, the precursor to fully autonomous vehicles.Memory-chip maker Micron Technology $(MU)$ has said that the automotive industry offers the company's best long-term growth opportunity.And soon, investors will have the opportunity to buy shares of Arm Holdings, which is planning an initial public offering on the Nasdaq later this year.Arm's Vachani notes that Arm-based chips are already running 85% of in-car entertainment systems. \"Consumers want their cars to provide the look and feel they experience on their mobile phone,\" she says. \"That's an experience we understand.\" Arm's designs power iPhone chips, servers, and other computing gear.Smaller companies should benefit, as well, from more niche applications that rely on specialized chips.Ambarella $(AMBA)$, which provides chips used in advanced driver-assistance systems and driver-monitoring applications, is producing in-car radar systems intended to alert drivers not to leave their children behind in the back seat. Ambarella also supplies chips used in Hyundai's Genesis GV60 to unlock the car with a facial scan. GAC Motor, a Chinese auto maker, is using Ambarella chips in a cabin-monitoring system that reduces the radio volume when a passenger is on the phone, or lowers a window if someone inside is smoking.Samsung's Harman International unit, a legacy provider of connected car experiences, believes software -- combined with high-powered chips -- will offer new ways for auto makers to offer unique experiences. Christian Sobottka, Harman's president of automotive, says that electrification of the powertrain is \"not that differentiating,\" putting pressure on the companies to find other ways to stand out.Harman offers a heads-up display called \"Ready Vision\" that projects relevant driving data onto the windshield, so that it's in the driver's field of vision. \"Ready Care\" is a suite of safety services that tracks activity inside the vehicle. Sobottka says the system can keep tabs on the driver, tracking life signs like heart rate, respiration, and eye movements -- nudging the seat, tightening seat belts, or turning up the radio when it detects wandering attention from the driver.Even BlackBerry $(BB)$, once a dominant player in mobile phones, has refocused on security and automotive software. The company's IVY platform is targeted at managing the growing flow of sensor data in modern cars. At the Consumer Technology Association's CES tech event in Las Vegas in January, BlackBerry said that the Chinese auto maker Dongfeng Motor would use IVY in a new model to manage batteries in an effort to reduce drivers' EV \"range anxiety.\"Technology, of course, isn't new to cars. Auto makers have been using chips and embedded software in cars for several decades, for everything from antilock brakes to electric door locks. But those electronics have largely been defined by a class of chips called microcontrollers, and their slightly more sophisticated cousins, \"electronic control units,\" or ECUs.Microcontrollers are the slower, more simple-minded versions of the microprocessors that control phones, PCs, and other electronics. They are cheap and specialized, and rely on older chip-making technology. During the recent chip shortage, tight supply of key microcontrollers reduced the ability of auto makers to meet demand for new cars -- or to repair old ones.\"Today, the average car has 30 to 50 ECUs, and higher-end cars have upward of 100,\" says Sam Abuelsamid, an analyst with the research firm Guidehouse Insights. \"Each one of them has a little [operating system] that runs independently. You end up with a system that is hard to update.\"The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade. The chips that control electric seats don’t talk to the chips that control instrument displays or the sensors that monitor tire pressure. Processor companies such as Qualcomm and Nvidia are rolling out chips that handle many automotive functions that previously relied on unconnected microcontrollers, reducing the chip count and making the car easier to upgrade.  Tesla (TSLA) was a pioneer here, Abuelsamid notes. “Features aren’t necessarily locked in when their cars roll off the assembly line,” he says. Another advantage: over-the-air software fixes for mandatory recalls. He notes that auto makers can be subject to fines when auto makers don’t lure enough owners into dealerships to handle recalls. “With over-the-air updates, you get 100% of them updated.”As cars add more code and connectivity, consumers will be pressured to pick up the tab.There are two elements to that story. One is the ability to upgrade software for almost any automotive function over the air. Tesla drivers already have that experience, but that isn’t true for every EV; upgrading the battery software to improve efficiency in a 2018 Chevy Bolt EV, for instance, still requires a trip to the dealer. There will be software updates that improve battery range, add new self-driving features, or improve other aspects of the in-cabin experience that have historically been handled by nonupgradable microcontrollers.Even more alluring for car makers is the notion of turning cars into a platform for subscription services. Tesla, for instance, charges up to $199 a month to include full-driving mode, despite the fact that the hardware and sensors required to handle the additional skills are already factory installed in the car. Wendy Bauer, general manager for automotive at Amazon Web Services, says that Amazon.com’s (AMZN) cloud services will play an increasingly important role in the in-car experience, with an increased range of entertainment and information options. “We see auto makers experimenting in many categories—in entertainment, certainly, in safety and convenience, even in productivity apps,” she says. “It comes down to what customers are willing to pay for. And when you get to Level 3 autonomy, it frees up time in the car for productivity and entertainment.”Turning the car into a platform for subscriptions provides a new opportunity for Zuora (ZUO), a software company focused on subscription management. “Why not turn the car into a two-ton payment method?” says Zuora CEO Tien Tzuo. “If you are leasing the car, the auto maker already has a financial relationship with you. Imagine pulling up to the charger or the pump, filling up, and then driving away.”General Motors has been working on the subscription problem for years. Its OnStar service, launched in 1996, offers in-vehicle voice connections to service agents who can provide directions or dispatch roadside service. OnStar plans can run as high as $49.99 a month. This year, the company will begin rolling out Ultifi, a software service based on IBM ‘s Red Hat that will allow developers to create new apps for GM cars—and services that car owners could pay for as one-time downloads or via subscriptions. GM’s early ideas for Ultifi include “Max Power Mode,” to boost acceleration in EVs; “Choose Your Own Adventure Mode,” basically a driving scavenger hunt; “Teen Driver Mode,” to adjust settings for younger drivers; and “Planetarium Mode,” which would project constellations on in-car screens.Nvidia has announced plans for an in-vehicle version of its GeForce gaming platform, for passengers to use at any time and for drivers when the car is parked or waiting for an EV charge. Auto makers plan to offer software that provides friction-free EV charging, connecting you to a payment system when you pull up to the charger and plug in, or automatic tolling for roads, bridges, and parking lots. And some auto makers are dabbling in a different kind of recurring payment—insurance (see related story here).BMW experimented with a fee for heated seats, but the company has backed off that plan and says it has no plans to start charging a subscription fee for equipment already installed in its cars. Auto makers rattle off the potential for other services, such as enhanced mapping and streaming music and video, but there remains the real risk that consumers stick with their iPhone and Android devices for those applications.The good news for car makers is that there’s enough money going around to remake business models across the industry. Their challenge will be figuring out what consumers want, how much they’re willing to pay—and then collecting all of it, or at least most of it, for themselves.","news_type":1,"symbols_score_info":{"TSLA":0.9,"AAPL":0.9,"QCOM":1,"GOOG":0.9}},"isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945496380,"gmtCreate":1681534623641,"gmtModify":1681534626765,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Good analysis","listText":"Good analysis","text":"Good analysis","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945496380","repostId":"1163718092","repostType":2,"isVote":1,"tweetType":1,"viewCount":304,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9010644502,"gmtCreate":1648370600030,"gmtModify":1676534332082,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AMRS\">$Amyris(AMRS)$</a>Hope this Huat Big big when their barra bonita factory opens in Q2 to enable them control the fermentation of their products and capture more margins that was lost to external subcontractors","listText":"<a href=\"https://ttm.financial/S/AMRS\">$Amyris(AMRS)$</a>Hope this Huat Big big when their barra bonita factory opens in Q2 to enable them control the fermentation of their products and capture more margins that was lost to external subcontractors","text":"$Amyris(AMRS)$Hope this Huat Big big when their barra bonita factory opens in Q2 to enable them control the fermentation of their products and capture more margins that was lost to external subcontractors","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010644502","isVote":1,"tweetType":1,"viewCount":1048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9063930314,"gmtCreate":1651380885893,"gmtModify":1676534899169,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Berkshire may do well by investors but it is sad to see shareholders voting down ESG audit proposals... Like so long as it makes money, who cares? A bit like Bitcoin right?","listText":"Berkshire may do well by investors but it is sad to see shareholders voting down ESG audit proposals... Like so long as it makes money, who cares? A bit like Bitcoin right?","text":"Berkshire may do well by investors but it is sad to see shareholders voting down ESG audit proposals... Like so long as it makes money, who cares? A bit like Bitcoin right?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9063930314","repostId":"1102313596","repostType":2,"repost":{"id":"1102313596","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":1651364553,"share":"https://ttm.financial/m/news/1102313596?lang=en_US&edition=fundamental","pubTime":"2022-05-01 08:22","market":"us","language":"en","title":"Full Recap of Berkshire Hathaway’s Annual Shareholders Meeting Saturday","url":"https://stock-news.laohu8.com/highlight/detail?id=1102313596","media":"Tiger Newspress","summary":"Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron","content":"<html><head></head><body><p>Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron and doled out sharp criticism against speculation in the market.</p><p>Speaking at Berkshire Hathaway’s first in-person annual meeting since 2019, Buffett went so far as to say the market’s turned into a “gambling parlor.”</p><p>The Oracle of Omaha also commented on inflation, building on prior remarks he has made. Buffett had previously said that inflation “swindles” equity investors, but noted Saturday that it “swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody.”</p><p>Buffett and his longtime partner, Vice Chairman Charlie Munger, fielded shareholder questions on a broad range of issues for hours.</p><p>Buffett also said that Berkshire had been increasing its stake in Activision Blizzard as part of a merger arbitrage bet that Microsoft’s proposed deal to buy the video game company will close. Additionally, Berkshire revealed it had ramped up its stock bets by more than $51 billion during the first quarter amid the broader market’s downturn.</p><p>Buffett also stressed the importance of cash as “new forms of money” like bitcoin pop up.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill. “That’s what money is.”</p><p>Check out full recap below for more from the two investing legends.</p><h3><b>Berkshire bought more than $51 billion of stocks during Q1′s market rout</b></h3><p>Berkshire bought more than $51 billion worth of stocks during the first quarter’s market turmoil, including sizable investments in Chevron, HP and Occidental. The buying at the start of the year marked a sharp reversal from 2021 that saw $7.4 billion of net sales in stocks.</p><p>The S&amp;P 500 suffered a 5% sell-off in the first quarter, posting its worst quarter since the start of the pandemic. The rout continued in April with the equity benchmark down another 8.8% amid fears of surging inflation and rising rates.</p><h3><b>Buffett says Berkshire is “better than the banks”</b></h3><p>Warren Buffett has a long history of teasing investment bankers and their institutions – saying that they encourage mergers and spinoffs to reap fees, rather than improve companies.</p><p>Today, he noted that Berkshire Hathaway would always be cash-rich, and in times of need, would be “better than the banks” at extending credit lines to companies in need. While Buffett was talking, someone was shouting from the crowd in the CHI Center. It was unclear what the audience member was said.</p><p>“Was that a banker screaming?” Buffett joked.</p><h3><b>Buffett warns shareholders about “new forms of money” and the importance of cash</b></h3><p>Warren Buffett warned shareholders about “new forms of money” as he recalled the financial crisis of 2008 and said Berkshire Hathaway will “always have a lot of cash on hand.”</p><p>Buffett did not explicitly identify bitcoin or other cryptocurrencies, though he has made headlines for calling bitcoin “rat poison” in the past and has said it has no unique value. Charlie Munger has also spoken with hostility about it.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill.</p><p>“That’s what money is,” he added. “It may turn out that it becomes worth dramatically less at purchasing power. It can become almost like paper money as it has in many countries. But that when people tell you that they’re reaching [for] new forms of money, this is the only thing that will pay bills.”</p><h3><b>Berkshire put money to work after finding ‘little exciting’ in the market</b></h3><p>In his annual chairman letter to shareholders in February, Warren Buffett said there is “little that excites us” in the market. But soon after, he put Berkshire’s money to work.</p><p>Berkshire at the beginning of March revealed a big stake in oil giant Occidental Petroleum. At the beginning of April, Berkshire announced a major stake in tech hardware stock HP. Berkshire’s first-quarter filing revealed the company significantly increased its bet on Chevron.</p><p>“We found some things we prefer to owning Treasury bills,” quipped Berkshire vice chairman and Buffett’s right-hand man Charlie Munger.</p><h3><b>Buffett on his massive Occidental investment</b></h3><p>Buffett scooped up 14% of oil giant <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>, worth more than $7 billion, in two weeks during March.</p><p>He pointed out that the stake was even larger when accounting for the index fund providers who own a huge chunk of the company.</p><p>“That’s not investment. You’re not buying from [investors]. I find it just incredible. You couldn’t do that with Berkshire. ... Overwhelmingly, large companies in America, they became poker chips,” Buffett said.</p><p>“That enabled us, in a two-week period, to buy 14% of a business that’s been around for decades,” Buffett said. “Imagine trying to [buy] 14% of the farms in this country. 14% of the apartment houses. 14% of the auto dealerships, or just anything, when already 40% were locked up some other place. It defies anything Charlie and I have seen, and we’ve seen a lot.”</p><p>The legendary investor said that the short-term volatility earlier this year fueled by “gambling mentality” allowed him to find good long-term opportunities.</p><h3><b>Executives of Berkshire’s portfolio companies discuss impact of inflation</b></h3><p>Ahead of the shareholder meeting, the executives of several Berkshire portfolio companies told CNBC how inflation was hitting their businesses.</p><p>One of those executives was Jim Weber, CEO of Brooks Running.</p><p>Weber said it was tough to raise prices for Brooks’ products but that he thinks some of the cost pressures could cool soon.</p><p>“We don’t have unlimited pricing power, but we have taken selective price increases where we think we can. But our whole industry is so competitive. It’s a big market place. ... I do believe in the supply chain that costs are going to mediate a bit,” Weber said.</p><h3><b>Buffett wants Berkshire to be in a ‘position to operate’ should the economy stop</b></h3><p>Buffett said he wants Berkshire Hathaway to be in a “position to operate” should the economy stop.</p><p>“We want Berkshire Hathaway to be there and in a position to operate if the economy stops,” Buffett said. “And that can always happen, it can always happen.”</p><p>Buffett played a significant role during the Great Recession, providing capital during a pivotal moment to companies such as Bank of America and Goldman Sachs. The move drew criticism from those who disapproved of the support of big banks.</p><p>The billionaire investor made those remarks while also praising the Federal Reserve’s role during the 2008 financial crisis and the pandemic.</p><p>“The Federal Reserve has not gone,” Buffett said. He added the Fed will “do whatever is necessary. ... That’s what happened in 2008 and 2009, and that’s what happened in 2020, and you’ll hope it happens again next time.”</p><h3><b>Buffett says he has &#34;so much trouble&#34; finding businesses to invest in</b></h3><p>Warren Buffett said Berkshire Hathaway is open to investing in businesses anywhere, not just in the U.S.</p><p>“We have so much trouble finding good ideas that we can’t afford to ignore any,” Buffett said. “But they do have to be sizable.”</p><p>Buffett said while he does seek out new investments, he prefers to be approached proactively.</p><p>“We’ll pay any price, climb any hills to find businesses, but we actually prefer when they fall into our lap,” Buffett said.</p><h3><b>Munger says today’s stock market &#34;almost a mania of speculation&#34;</b></h3><p>Munger said today’s stock market has become “almost a mania of speculation.”</p><p>His comment alluded to both high frequency algorithmic trading and access new investors have that intensified during the pandemic.</p><p>“We have computers with algorithms trading against other computers,” Munger said. “We’ve got people who know nothing about stocks, being advised by stockbrokers who know even less.</p><p>“I understand the commission though,” Buffett joked.</p><p>After Munger likened the activity to a casino, where people play craps and roulette, Buffett expanded on the comparison.</p><p>“People and traders’ poker chips are pulling the handle,” he said. “They’ve got the system set up so that if you want to buy a three-day call on the stock you can do it and they make more money selling you calls than if you buy stock, so they teach you calls. Nobody’s going around selling calls on farms. That’s why markets do crazy things. Occasionally Berkshire gets a chance to do something. It’s not because we’re smarter. … we’re sane, and that’s the main requirement in this business.”</p><h3><b>Munger blasts calls for separate Berkshire chairman and CEO</b></h3><p>Berkshire Hathaway Vice Chairman Charlie Munger had some stern words in response to a proposal to oust CEO Warren Buffett as chairman.</p><p>“It’s the most ridiculous criticism I ever heard,” Munger said.</p><p>“It’s like Odysseus would come back from winning the battle of Troy and so forth and some guy would say, ‘I don’t like the way you were holding your spear when you won that battle,’” he added, referencing ancient Greek epic “The Odyssey.”</p><p>The California Public Employees’ Retirement System, or CalPERS, the biggest public pension fund in the U.S., earlier this month said it would vote in favor of a shareholder proposal to remove Buffett from his chairman role while remaining CEO. The proposal’s aim stems from concerns about corporate governance with one person holding dual roles.</p><p>“Some guy that’s never run any business, doesn’t know anything — I don’t think too much of this activity,” Munger said.</p><h3><b>Berkshire’s head of insurance explains how Geico has fallen behind rival Progressive</b></h3><p>Berkshire Hathaway Vice Chairman Ajit Jain, who runs all of the conglomerate’s insurance businesses, lamented about how Geico has fallen behind rival Progressive in the car insurance business.</p><p>“Each one have their plusses and minuses, but having said that, there’s no question that recently Progressive has done a much better job than Geico … both in terms of margins and in terms of growth,” Jain said.</p><p>“There are a number of causes for that, but I think the biggest culprit is as far as Geico is concerned … is telematics,” he added. Telematics refers to putting a device on a car that tracks driving patterns, in exchange for a lower insurance rate.</p><p>“Progressive has been on the telematics bandwagon for more than 10 years. Geico, until recently, wasn’t involved in telematics,” Jain said. “It’s a long journey, but the journey has started, and the initial results are promising. It will take a while, but my hope is that in the next year or two, Geico will be positioned to catch up with Progressive.”</p><p>Jain’s comments came after Berkshire reported earlier in the day a massive earnings drop in its insurance underwriting business for the first quarter.</p><h3><b>Buffett says he has never been &#34;good at timing&#34;</b></h3><p>Warren Buffett said he has never figured out how to time the markets.</p><p>“We haven’t the faintest idea what the stock market was gonna do when it opens on Monday,” Buffett said in response to an audience question.</p><p>“I don’t think we’ve ever made a decision where either one of us has either said or been thinking we should buy or sell based on what the market is going to do, or for that matter, on what the economy’s going to do. We don’t know,” he continued.</p><p>The Oracle of Omaha said he often gets misplaced credit for the stock winners he’s picked over the years, pointing out he’s also missed out on some big opportunities as well. Buffett said he failed to make some big purchases in the early days of the pandemic. In a single day in March 2020, the Dow Jones Industrial Average dropped 12.9%,its worst day since 1987.</p><p>Instead, Buffett adheres to a value investing strategy, or picking stocks with attractive valuations, instead of focusing on the vagaries of the stock market.</p><p>“We have not been good at timing,” Buffett said. “We’ve been reasonably good at figuring out when we were getting enough for our money. And we had no idea when we bought anything, but we always hoped it would the down for a while so we could buy more. ... I mean, that stuff, you could you could learn in fourth grade.”</p><h3><b>Munger says &#34;just say no&#34; to putting bitcoin in your retirement account</b></h3><p>Charlie Munger is still down on bitcoin.</p><p>He responded to an audience member question asking what single stock they would invest in given how high inflation has been rising.</p><p>The Berkshire executives didn’t say where they would put their money, but Munger was clear about where he wouldn’t invest: bitcoin.</p><p>“When you have your own retirement account, and your friendly adviser suggests you put all the money in into bitcoin, just say no,” he said.</p><p>Munger’s answer was a thinly veiled reference tobig news from Fidelity this week, which will now allow employees to putbitcoininto their employee-sponsored retirement accounts.</p><p>Munger and Buffett have both long been critics of bitcoin, which has become increasingly attractive to certain investors for its potential as an inflation hedge.</p><h3><b>Buffett describes his start to investing when he was 11 years old</b></h3><p>A trip to the New York Stock Exchange when he was 9 years old was inspiring for Warren Buffett, who is known to have started investing when he was 11 years old.</p><p>“I went to the New York Stock Exchange, I was in awe of it,” Buffett said. “I got very interested in technical analysis and charted stocks and did all kinds of crazy things, did hours and hours and hours and saved money to buy other stocks and tried shorting. I just did everything.”</p><p>The investor bought a stock at 11 after spending his childhood reading books on the subject from the library and in his father’s office. He said his approach to investing later changed completely when he was 19 or 20 years old after reading one particular book passage in what he said must have been Benjamin Graham’s “The Intelligent Investor.”</p><p>“I looked at this book and I saw one paragraph and it told me I’ve been doing everything wrong. I just had the whole approach wrong,” Buffett said.</p><h3><b>Buffett wants to make it clear he’s not the only one picking stocks at Berkshire Hathaway</b></h3><p>Warren Buffett wants to make it clear that he’s not the only one at Berkshire Hathaway picking stocks.</p><p>“I see headlines in papers just time after time after time that say, ‘Buffett’s buying such and such,’” Buffett said. “I’m not buying such and such. Berkshire Hathaway is buying.”</p><p>The investor said a stock pick may have been made by other finance professionals in his organization without Buffett’s ever having heard of it.</p><p>“But the headline will attract more people if it says Buffett buying this than if it says Berkshire Hathaway, and we don’t know whether it is the people that work for him, the headline is designed to bring people into the story,” Buffett said.</p><p>“The easiest thing to do is basically shut up and not have a bunch of people facing consequences they didn’t ask for in the first place,” he said.</p><h3><b>Buffett says inflation ‘swindles almost everybody’</b></h3><p>When asked about his previous comments that inflation “swindles” equity investors, Buffett said the damage from rising prices was much broader than that.</p><p>“Inflation swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody,” he said.</p><p>Buffett pointed out that inflation also raises the amount of capital that companies need to have and that it isn’t as simple as raising prices to maintain inflation-adjusted profits.</p><p>The Berkshire Hathaway CEO cautioned against listening to people who claim to be able to predict the path of inflation.</p><p>“The question is how much ... and the answer is nobody knows,” Buffett said.</p><p>Buffett reiterated that the best protection against the inflation is investing in your own skills.</p><h3><b>Buffett says Berkshire now owns 9.5% of Activision Blizzard</b></h3><p>Warren Buffett said Berkshire Hathaway has been increasing its stake inActivision Blizzardin a merger arbitrage bet thatMicrosoft’sproposed acquisition of the video game company will close.</p><p>In the fourth quarter of 2021, Berkshire first purchased about $1 billion worth of Activision Blizzard stock, in a bet the company was undervalued. Buffett has saidBerkshire “had no prior knowledge”of Microsoft’s plan to buy the company when Berkshire made its initial investment.</p><p>In January, Microsoftannounced intentions to buy Activisionfor $95 per share. Its stock closed at $75.60 per share on Friday.</p><p>Buffett said he has been buying more shares of Activision since the deal was announced as the stock is trading way below Microsoft’s offer. Buying at these levels will yield a bigger return if the deal closes.</p><p>Buffett said Berkshire now owns about 9.5% of Activision. “If we went over 10%, we would file a report,” he said.</p><p>“If the deal goes through, we make some money, and if the deal doesn’t go through, who knows what happens,” Buffett said.</p><p>“We don’t know what the Justice Department will do, we don’t know what the E.U. will do, we don’t know what 30 other jurisdictions will do. One thing we do know is that Microsoft has the money,” Buffett added.</p><h3><b>Buffett: ‘I look at Berkshire as a painting’</b></h3><p>The possibilities for Berkshire Hathaway are endless in the eyes of Warren Buffett, who likened the company to a work of art.</p><p>“I look at Berkshire as a painting,” Buffett said. “It’s unlimited in size; it’s got an ever-expanding canvas, and I get to paint what I want.”</p><p>Buffett did acknowledge that he doesn’t know much about art, but added that “other people look at paintings and they see something, then they’ll see something additional later on, and they really have a different sort of perception in relation to that. To me, Berkshire is a painting, and I get to paint.”</p><p>“It’s in my head, and I see different things in it as I go along,” Buffett said. “It’s satisfying.”</p><h3><b>Buffett calls Jerome Powell a hero</b></h3><p>In addressing a question about inflation, Buffett talked about the massive stimulus during the pandemic as a key reason for the rising prices now.</p><p>“You print loads of money, and money is going to be worth less,” Buffett said.</p><p>However, he did not criticize the Federal Reserve for its actions to boost money supply and stabilize markets during the health crisis.</p><p>“In my book,Jay Powellis a hero. It’s very simple. He did what he had to do,” Buffett said.</p><h3><b>Buffett says people are becoming more tribal</b></h3><p>Warren Buffett said people are becoming more tribal.</p><p>“My general assumption — there’s no way to prove it — but essentially, people are now behaving somewhat more tribal than they have for a long time,” Buffett said.</p><p>“It’s fun to participate in, but it can get very dangerous when people say two plus two is five and the other says two plus two is three, you know, and they’re gonna give you those answers,” he continued.</p><p>The investor said the country seems as tribal as it appeared during the 1930s when public sentiment was split in the U.S. around Franklin Roosevelt. Buffett said he was raised in a household where he and his siblings weren’t served dessert until they “said something nasty” about Roosevelt.</p><p>“I don’t think it’s a good development for society,” Buffett said.</p><h3><b>Buffett says he won’t buy bitcoin because ‘it doesn’t produce anything’</b></h3><p>Warren Buffettreiterated his skepticism of bitcoin on Saturday, saying he would be unwilling to buy it for even extremely low prices because it produces nothing of value.</p><p>“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,” Buffett said. “It’s got a magic to it and people have attached magics to lots of things.”</p><p>Buffett listed farmland, apartment buildings — and even art — as assets that had more tangible value than bitcoin.</p><p>“Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted. You can come up with all kinds of things. We can put up Berkshire coins, put up Berkshire money but in the end, this is money,” he said, holding up a $20 bill. “And there’s no reason in the world why the United States government … is going to let Berkshire money replace theirs.”</p><h3><b>Berkshire’s business meeting concludes with shareholder votes</b></h3><p>Berkshire’s formal business meeting followed nearly five hours of Q&amp;A with Warren Buffett and Charlie Munger. Shareholders voted on a number of proposals at the meeting.</p><p>The proposal that garnered most attention was from the non-profit National Legal and Policy Center. It calls for the company to strip Buffett of his chairman role. Shareholders voted down the proposal backed by CALPERS, the largest U.S. public pension fund.</p><p>Brunel Pension requested the board of Berkshire to publish an annual assessment addressing how the company manages physical and transitional climate-related risks. The number of votes against the motion outnumbered the ones for it.</p><p>One shareholder also took issue with Berkshire’s climate change initiative. The proposal called for Berkshire to issue a report addressing if and how it intends to measure, disclose, and reduce the GHG emissions associated in alignment with the Paris Agreement’s 1.5°C goal, requiring net zero emissions. Shareholders voted it down.</p><p>The last proposal asked Berkshire to report to shareholders on the outcomes of their diversity, equity and inclusion efforts by publishing quantitative data on workforce composition and recruitment, retention, and promotion rates of employees by gender, race, and ethnicity. The motion also failed.</p><p></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>Full Recap of Berkshire Hathaway’s Annual Shareholders Meeting Saturday</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\">\nFull Recap of Berkshire Hathaway’s Annual Shareholders Meeting Saturday\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\">2022-05-01 08:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron and doled out sharp criticism against speculation in the market.</p><p>Speaking at Berkshire Hathaway’s first in-person annual meeting since 2019, Buffett went so far as to say the market’s turned into a “gambling parlor.”</p><p>The Oracle of Omaha also commented on inflation, building on prior remarks he has made. Buffett had previously said that inflation “swindles” equity investors, but noted Saturday that it “swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody.”</p><p>Buffett and his longtime partner, Vice Chairman Charlie Munger, fielded shareholder questions on a broad range of issues for hours.</p><p>Buffett also said that Berkshire had been increasing its stake in Activision Blizzard as part of a merger arbitrage bet that Microsoft’s proposed deal to buy the video game company will close. Additionally, Berkshire revealed it had ramped up its stock bets by more than $51 billion during the first quarter amid the broader market’s downturn.</p><p>Buffett also stressed the importance of cash as “new forms of money” like bitcoin pop up.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill. “That’s what money is.”</p><p>Check out full recap below for more from the two investing legends.</p><h3><b>Berkshire bought more than $51 billion of stocks during Q1′s market rout</b></h3><p>Berkshire bought more than $51 billion worth of stocks during the first quarter’s market turmoil, including sizable investments in Chevron, HP and Occidental. The buying at the start of the year marked a sharp reversal from 2021 that saw $7.4 billion of net sales in stocks.</p><p>The S&amp;P 500 suffered a 5% sell-off in the first quarter, posting its worst quarter since the start of the pandemic. The rout continued in April with the equity benchmark down another 8.8% amid fears of surging inflation and rising rates.</p><h3><b>Buffett says Berkshire is “better than the banks”</b></h3><p>Warren Buffett has a long history of teasing investment bankers and their institutions – saying that they encourage mergers and spinoffs to reap fees, rather than improve companies.</p><p>Today, he noted that Berkshire Hathaway would always be cash-rich, and in times of need, would be “better than the banks” at extending credit lines to companies in need. While Buffett was talking, someone was shouting from the crowd in the CHI Center. It was unclear what the audience member was said.</p><p>“Was that a banker screaming?” Buffett joked.</p><h3><b>Buffett warns shareholders about “new forms of money” and the importance of cash</b></h3><p>Warren Buffett warned shareholders about “new forms of money” as he recalled the financial crisis of 2008 and said Berkshire Hathaway will “always have a lot of cash on hand.”</p><p>Buffett did not explicitly identify bitcoin or other cryptocurrencies, though he has made headlines for calling bitcoin “rat poison” in the past and has said it has no unique value. Charlie Munger has also spoken with hostility about it.</p><p>“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill.</p><p>“That’s what money is,” he added. “It may turn out that it becomes worth dramatically less at purchasing power. It can become almost like paper money as it has in many countries. But that when people tell you that they’re reaching [for] new forms of money, this is the only thing that will pay bills.”</p><h3><b>Berkshire put money to work after finding ‘little exciting’ in the market</b></h3><p>In his annual chairman letter to shareholders in February, Warren Buffett said there is “little that excites us” in the market. But soon after, he put Berkshire’s money to work.</p><p>Berkshire at the beginning of March revealed a big stake in oil giant Occidental Petroleum. At the beginning of April, Berkshire announced a major stake in tech hardware stock HP. Berkshire’s first-quarter filing revealed the company significantly increased its bet on Chevron.</p><p>“We found some things we prefer to owning Treasury bills,” quipped Berkshire vice chairman and Buffett’s right-hand man Charlie Munger.</p><h3><b>Buffett on his massive Occidental investment</b></h3><p>Buffett scooped up 14% of oil giant <a href=\"https://laohu8.com/S/OXY\">Occidental Petroleum</a>, worth more than $7 billion, in two weeks during March.</p><p>He pointed out that the stake was even larger when accounting for the index fund providers who own a huge chunk of the company.</p><p>“That’s not investment. You’re not buying from [investors]. I find it just incredible. You couldn’t do that with Berkshire. ... Overwhelmingly, large companies in America, they became poker chips,” Buffett said.</p><p>“That enabled us, in a two-week period, to buy 14% of a business that’s been around for decades,” Buffett said. “Imagine trying to [buy] 14% of the farms in this country. 14% of the apartment houses. 14% of the auto dealerships, or just anything, when already 40% were locked up some other place. It defies anything Charlie and I have seen, and we’ve seen a lot.”</p><p>The legendary investor said that the short-term volatility earlier this year fueled by “gambling mentality” allowed him to find good long-term opportunities.</p><h3><b>Executives of Berkshire’s portfolio companies discuss impact of inflation</b></h3><p>Ahead of the shareholder meeting, the executives of several Berkshire portfolio companies told CNBC how inflation was hitting their businesses.</p><p>One of those executives was Jim Weber, CEO of Brooks Running.</p><p>Weber said it was tough to raise prices for Brooks’ products but that he thinks some of the cost pressures could cool soon.</p><p>“We don’t have unlimited pricing power, but we have taken selective price increases where we think we can. But our whole industry is so competitive. It’s a big market place. ... I do believe in the supply chain that costs are going to mediate a bit,” Weber said.</p><h3><b>Buffett wants Berkshire to be in a ‘position to operate’ should the economy stop</b></h3><p>Buffett said he wants Berkshire Hathaway to be in a “position to operate” should the economy stop.</p><p>“We want Berkshire Hathaway to be there and in a position to operate if the economy stops,” Buffett said. “And that can always happen, it can always happen.”</p><p>Buffett played a significant role during the Great Recession, providing capital during a pivotal moment to companies such as Bank of America and Goldman Sachs. The move drew criticism from those who disapproved of the support of big banks.</p><p>The billionaire investor made those remarks while also praising the Federal Reserve’s role during the 2008 financial crisis and the pandemic.</p><p>“The Federal Reserve has not gone,” Buffett said. He added the Fed will “do whatever is necessary. ... That’s what happened in 2008 and 2009, and that’s what happened in 2020, and you’ll hope it happens again next time.”</p><h3><b>Buffett says he has &#34;so much trouble&#34; finding businesses to invest in</b></h3><p>Warren Buffett said Berkshire Hathaway is open to investing in businesses anywhere, not just in the U.S.</p><p>“We have so much trouble finding good ideas that we can’t afford to ignore any,” Buffett said. “But they do have to be sizable.”</p><p>Buffett said while he does seek out new investments, he prefers to be approached proactively.</p><p>“We’ll pay any price, climb any hills to find businesses, but we actually prefer when they fall into our lap,” Buffett said.</p><h3><b>Munger says today’s stock market &#34;almost a mania of speculation&#34;</b></h3><p>Munger said today’s stock market has become “almost a mania of speculation.”</p><p>His comment alluded to both high frequency algorithmic trading and access new investors have that intensified during the pandemic.</p><p>“We have computers with algorithms trading against other computers,” Munger said. “We’ve got people who know nothing about stocks, being advised by stockbrokers who know even less.</p><p>“I understand the commission though,” Buffett joked.</p><p>After Munger likened the activity to a casino, where people play craps and roulette, Buffett expanded on the comparison.</p><p>“People and traders’ poker chips are pulling the handle,” he said. “They’ve got the system set up so that if you want to buy a three-day call on the stock you can do it and they make more money selling you calls than if you buy stock, so they teach you calls. Nobody’s going around selling calls on farms. That’s why markets do crazy things. Occasionally Berkshire gets a chance to do something. It’s not because we’re smarter. … we’re sane, and that’s the main requirement in this business.”</p><h3><b>Munger blasts calls for separate Berkshire chairman and CEO</b></h3><p>Berkshire Hathaway Vice Chairman Charlie Munger had some stern words in response to a proposal to oust CEO Warren Buffett as chairman.</p><p>“It’s the most ridiculous criticism I ever heard,” Munger said.</p><p>“It’s like Odysseus would come back from winning the battle of Troy and so forth and some guy would say, ‘I don’t like the way you were holding your spear when you won that battle,’” he added, referencing ancient Greek epic “The Odyssey.”</p><p>The California Public Employees’ Retirement System, or CalPERS, the biggest public pension fund in the U.S., earlier this month said it would vote in favor of a shareholder proposal to remove Buffett from his chairman role while remaining CEO. The proposal’s aim stems from concerns about corporate governance with one person holding dual roles.</p><p>“Some guy that’s never run any business, doesn’t know anything — I don’t think too much of this activity,” Munger said.</p><h3><b>Berkshire’s head of insurance explains how Geico has fallen behind rival Progressive</b></h3><p>Berkshire Hathaway Vice Chairman Ajit Jain, who runs all of the conglomerate’s insurance businesses, lamented about how Geico has fallen behind rival Progressive in the car insurance business.</p><p>“Each one have their plusses and minuses, but having said that, there’s no question that recently Progressive has done a much better job than Geico … both in terms of margins and in terms of growth,” Jain said.</p><p>“There are a number of causes for that, but I think the biggest culprit is as far as Geico is concerned … is telematics,” he added. Telematics refers to putting a device on a car that tracks driving patterns, in exchange for a lower insurance rate.</p><p>“Progressive has been on the telematics bandwagon for more than 10 years. Geico, until recently, wasn’t involved in telematics,” Jain said. “It’s a long journey, but the journey has started, and the initial results are promising. It will take a while, but my hope is that in the next year or two, Geico will be positioned to catch up with Progressive.”</p><p>Jain’s comments came after Berkshire reported earlier in the day a massive earnings drop in its insurance underwriting business for the first quarter.</p><h3><b>Buffett says he has never been &#34;good at timing&#34;</b></h3><p>Warren Buffett said he has never figured out how to time the markets.</p><p>“We haven’t the faintest idea what the stock market was gonna do when it opens on Monday,” Buffett said in response to an audience question.</p><p>“I don’t think we’ve ever made a decision where either one of us has either said or been thinking we should buy or sell based on what the market is going to do, or for that matter, on what the economy’s going to do. We don’t know,” he continued.</p><p>The Oracle of Omaha said he often gets misplaced credit for the stock winners he’s picked over the years, pointing out he’s also missed out on some big opportunities as well. Buffett said he failed to make some big purchases in the early days of the pandemic. In a single day in March 2020, the Dow Jones Industrial Average dropped 12.9%,its worst day since 1987.</p><p>Instead, Buffett adheres to a value investing strategy, or picking stocks with attractive valuations, instead of focusing on the vagaries of the stock market.</p><p>“We have not been good at timing,” Buffett said. “We’ve been reasonably good at figuring out when we were getting enough for our money. And we had no idea when we bought anything, but we always hoped it would the down for a while so we could buy more. ... I mean, that stuff, you could you could learn in fourth grade.”</p><h3><b>Munger says &#34;just say no&#34; to putting bitcoin in your retirement account</b></h3><p>Charlie Munger is still down on bitcoin.</p><p>He responded to an audience member question asking what single stock they would invest in given how high inflation has been rising.</p><p>The Berkshire executives didn’t say where they would put their money, but Munger was clear about where he wouldn’t invest: bitcoin.</p><p>“When you have your own retirement account, and your friendly adviser suggests you put all the money in into bitcoin, just say no,” he said.</p><p>Munger’s answer was a thinly veiled reference tobig news from Fidelity this week, which will now allow employees to putbitcoininto their employee-sponsored retirement accounts.</p><p>Munger and Buffett have both long been critics of bitcoin, which has become increasingly attractive to certain investors for its potential as an inflation hedge.</p><h3><b>Buffett describes his start to investing when he was 11 years old</b></h3><p>A trip to the New York Stock Exchange when he was 9 years old was inspiring for Warren Buffett, who is known to have started investing when he was 11 years old.</p><p>“I went to the New York Stock Exchange, I was in awe of it,” Buffett said. “I got very interested in technical analysis and charted stocks and did all kinds of crazy things, did hours and hours and hours and saved money to buy other stocks and tried shorting. I just did everything.”</p><p>The investor bought a stock at 11 after spending his childhood reading books on the subject from the library and in his father’s office. He said his approach to investing later changed completely when he was 19 or 20 years old after reading one particular book passage in what he said must have been Benjamin Graham’s “The Intelligent Investor.”</p><p>“I looked at this book and I saw one paragraph and it told me I’ve been doing everything wrong. I just had the whole approach wrong,” Buffett said.</p><h3><b>Buffett wants to make it clear he’s not the only one picking stocks at Berkshire Hathaway</b></h3><p>Warren Buffett wants to make it clear that he’s not the only one at Berkshire Hathaway picking stocks.</p><p>“I see headlines in papers just time after time after time that say, ‘Buffett’s buying such and such,’” Buffett said. “I’m not buying such and such. Berkshire Hathaway is buying.”</p><p>The investor said a stock pick may have been made by other finance professionals in his organization without Buffett’s ever having heard of it.</p><p>“But the headline will attract more people if it says Buffett buying this than if it says Berkshire Hathaway, and we don’t know whether it is the people that work for him, the headline is designed to bring people into the story,” Buffett said.</p><p>“The easiest thing to do is basically shut up and not have a bunch of people facing consequences they didn’t ask for in the first place,” he said.</p><h3><b>Buffett says inflation ‘swindles almost everybody’</b></h3><p>When asked about his previous comments that inflation “swindles” equity investors, Buffett said the damage from rising prices was much broader than that.</p><p>“Inflation swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody,” he said.</p><p>Buffett pointed out that inflation also raises the amount of capital that companies need to have and that it isn’t as simple as raising prices to maintain inflation-adjusted profits.</p><p>The Berkshire Hathaway CEO cautioned against listening to people who claim to be able to predict the path of inflation.</p><p>“The question is how much ... and the answer is nobody knows,” Buffett said.</p><p>Buffett reiterated that the best protection against the inflation is investing in your own skills.</p><h3><b>Buffett says Berkshire now owns 9.5% of Activision Blizzard</b></h3><p>Warren Buffett said Berkshire Hathaway has been increasing its stake inActivision Blizzardin a merger arbitrage bet thatMicrosoft’sproposed acquisition of the video game company will close.</p><p>In the fourth quarter of 2021, Berkshire first purchased about $1 billion worth of Activision Blizzard stock, in a bet the company was undervalued. Buffett has saidBerkshire “had no prior knowledge”of Microsoft’s plan to buy the company when Berkshire made its initial investment.</p><p>In January, Microsoftannounced intentions to buy Activisionfor $95 per share. Its stock closed at $75.60 per share on Friday.</p><p>Buffett said he has been buying more shares of Activision since the deal was announced as the stock is trading way below Microsoft’s offer. Buying at these levels will yield a bigger return if the deal closes.</p><p>Buffett said Berkshire now owns about 9.5% of Activision. “If we went over 10%, we would file a report,” he said.</p><p>“If the deal goes through, we make some money, and if the deal doesn’t go through, who knows what happens,” Buffett said.</p><p>“We don’t know what the Justice Department will do, we don’t know what the E.U. will do, we don’t know what 30 other jurisdictions will do. One thing we do know is that Microsoft has the money,” Buffett added.</p><h3><b>Buffett: ‘I look at Berkshire as a painting’</b></h3><p>The possibilities for Berkshire Hathaway are endless in the eyes of Warren Buffett, who likened the company to a work of art.</p><p>“I look at Berkshire as a painting,” Buffett said. “It’s unlimited in size; it’s got an ever-expanding canvas, and I get to paint what I want.”</p><p>Buffett did acknowledge that he doesn’t know much about art, but added that “other people look at paintings and they see something, then they’ll see something additional later on, and they really have a different sort of perception in relation to that. To me, Berkshire is a painting, and I get to paint.”</p><p>“It’s in my head, and I see different things in it as I go along,” Buffett said. “It’s satisfying.”</p><h3><b>Buffett calls Jerome Powell a hero</b></h3><p>In addressing a question about inflation, Buffett talked about the massive stimulus during the pandemic as a key reason for the rising prices now.</p><p>“You print loads of money, and money is going to be worth less,” Buffett said.</p><p>However, he did not criticize the Federal Reserve for its actions to boost money supply and stabilize markets during the health crisis.</p><p>“In my book,Jay Powellis a hero. It’s very simple. He did what he had to do,” Buffett said.</p><h3><b>Buffett says people are becoming more tribal</b></h3><p>Warren Buffett said people are becoming more tribal.</p><p>“My general assumption — there’s no way to prove it — but essentially, people are now behaving somewhat more tribal than they have for a long time,” Buffett said.</p><p>“It’s fun to participate in, but it can get very dangerous when people say two plus two is five and the other says two plus two is three, you know, and they’re gonna give you those answers,” he continued.</p><p>The investor said the country seems as tribal as it appeared during the 1930s when public sentiment was split in the U.S. around Franklin Roosevelt. Buffett said he was raised in a household where he and his siblings weren’t served dessert until they “said something nasty” about Roosevelt.</p><p>“I don’t think it’s a good development for society,” Buffett said.</p><h3><b>Buffett says he won’t buy bitcoin because ‘it doesn’t produce anything’</b></h3><p>Warren Buffettreiterated his skepticism of bitcoin on Saturday, saying he would be unwilling to buy it for even extremely low prices because it produces nothing of value.</p><p>“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,” Buffett said. “It’s got a magic to it and people have attached magics to lots of things.”</p><p>Buffett listed farmland, apartment buildings — and even art — as assets that had more tangible value than bitcoin.</p><p>“Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted. You can come up with all kinds of things. We can put up Berkshire coins, put up Berkshire money but in the end, this is money,” he said, holding up a $20 bill. “And there’s no reason in the world why the United States government … is going to let Berkshire money replace theirs.”</p><h3><b>Berkshire’s business meeting concludes with shareholder votes</b></h3><p>Berkshire’s formal business meeting followed nearly five hours of Q&amp;A with Warren Buffett and Charlie Munger. Shareholders voted on a number of proposals at the meeting.</p><p>The proposal that garnered most attention was from the non-profit National Legal and Policy Center. It calls for the company to strip Buffett of his chairman role. Shareholders voted down the proposal backed by CALPERS, the largest U.S. public pension fund.</p><p>Brunel Pension requested the board of Berkshire to publish an annual assessment addressing how the company manages physical and transitional climate-related risks. The number of votes against the motion outnumbered the ones for it.</p><p>One shareholder also took issue with Berkshire’s climate change initiative. The proposal called for Berkshire to issue a report addressing if and how it intends to measure, disclose, and reduce the GHG emissions associated in alignment with the Paris Agreement’s 1.5°C goal, requiring net zero emissions. Shareholders voted it down.</p><p>The last proposal asked Berkshire to report to shareholders on the outcomes of their diversity, equity and inclusion efforts by publishing quantitative data on workforce composition and recruitment, retention, and promotion rates of employees by gender, race, and ethnicity. The motion also failed.</p><p></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","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102313596","content_text":"Berkshire Hathaway Chairman Warren Buffett on Saturday put fresh money behind Activision and Chevron and doled out sharp criticism against speculation in the market.Speaking at Berkshire Hathaway’s first in-person annual meeting since 2019, Buffett went so far as to say the market’s turned into a “gambling parlor.”The Oracle of Omaha also commented on inflation, building on prior remarks he has made. Buffett had previously said that inflation “swindles” equity investors, but noted Saturday that it “swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody.”Buffett and his longtime partner, Vice Chairman Charlie Munger, fielded shareholder questions on a broad range of issues for hours.Buffett also said that Berkshire had been increasing its stake in Activision Blizzard as part of a merger arbitrage bet that Microsoft’s proposed deal to buy the video game company will close. Additionally, Berkshire revealed it had ramped up its stock bets by more than $51 billion during the first quarter amid the broader market’s downturn.Buffett also stressed the importance of cash as “new forms of money” like bitcoin pop up.“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill. “That’s what money is.”Check out full recap below for more from the two investing legends.Berkshire bought more than $51 billion of stocks during Q1′s market routBerkshire bought more than $51 billion worth of stocks during the first quarter’s market turmoil, including sizable investments in Chevron, HP and Occidental. The buying at the start of the year marked a sharp reversal from 2021 that saw $7.4 billion of net sales in stocks.The S&P 500 suffered a 5% sell-off in the first quarter, posting its worst quarter since the start of the pandemic. The rout continued in April with the equity benchmark down another 8.8% amid fears of surging inflation and rising rates.Buffett says Berkshire is “better than the banks”Warren Buffett has a long history of teasing investment bankers and their institutions – saying that they encourage mergers and spinoffs to reap fees, rather than improve companies.Today, he noted that Berkshire Hathaway would always be cash-rich, and in times of need, would be “better than the banks” at extending credit lines to companies in need. While Buffett was talking, someone was shouting from the crowd in the CHI Center. It was unclear what the audience member was said.“Was that a banker screaming?” Buffett joked.Buffett warns shareholders about “new forms of money” and the importance of cashWarren Buffett warned shareholders about “new forms of money” as he recalled the financial crisis of 2008 and said Berkshire Hathaway will “always have a lot of cash on hand.”Buffett did not explicitly identify bitcoin or other cryptocurrencies, though he has made headlines for calling bitcoin “rat poison” in the past and has said it has no unique value. Charlie Munger has also spoken with hostility about it.“The United States government affects that this became exchangeable for lawful money in the United States,” Buffett said, displaying an image of an old $20 bill.“That’s what money is,” he added. “It may turn out that it becomes worth dramatically less at purchasing power. It can become almost like paper money as it has in many countries. But that when people tell you that they’re reaching [for] new forms of money, this is the only thing that will pay bills.”Berkshire put money to work after finding ‘little exciting’ in the marketIn his annual chairman letter to shareholders in February, Warren Buffett said there is “little that excites us” in the market. But soon after, he put Berkshire’s money to work.Berkshire at the beginning of March revealed a big stake in oil giant Occidental Petroleum. At the beginning of April, Berkshire announced a major stake in tech hardware stock HP. Berkshire’s first-quarter filing revealed the company significantly increased its bet on Chevron.“We found some things we prefer to owning Treasury bills,” quipped Berkshire vice chairman and Buffett’s right-hand man Charlie Munger.Buffett on his massive Occidental investmentBuffett scooped up 14% of oil giant Occidental Petroleum, worth more than $7 billion, in two weeks during March.He pointed out that the stake was even larger when accounting for the index fund providers who own a huge chunk of the company.“That’s not investment. You’re not buying from [investors]. I find it just incredible. You couldn’t do that with Berkshire. ... Overwhelmingly, large companies in America, they became poker chips,” Buffett said.“That enabled us, in a two-week period, to buy 14% of a business that’s been around for decades,” Buffett said. “Imagine trying to [buy] 14% of the farms in this country. 14% of the apartment houses. 14% of the auto dealerships, or just anything, when already 40% were locked up some other place. It defies anything Charlie and I have seen, and we’ve seen a lot.”The legendary investor said that the short-term volatility earlier this year fueled by “gambling mentality” allowed him to find good long-term opportunities.Executives of Berkshire’s portfolio companies discuss impact of inflationAhead of the shareholder meeting, the executives of several Berkshire portfolio companies told CNBC how inflation was hitting their businesses.One of those executives was Jim Weber, CEO of Brooks Running.Weber said it was tough to raise prices for Brooks’ products but that he thinks some of the cost pressures could cool soon.“We don’t have unlimited pricing power, but we have taken selective price increases where we think we can. But our whole industry is so competitive. It’s a big market place. ... I do believe in the supply chain that costs are going to mediate a bit,” Weber said.Buffett wants Berkshire to be in a ‘position to operate’ should the economy stopBuffett said he wants Berkshire Hathaway to be in a “position to operate” should the economy stop.“We want Berkshire Hathaway to be there and in a position to operate if the economy stops,” Buffett said. “And that can always happen, it can always happen.”Buffett played a significant role during the Great Recession, providing capital during a pivotal moment to companies such as Bank of America and Goldman Sachs. The move drew criticism from those who disapproved of the support of big banks.The billionaire investor made those remarks while also praising the Federal Reserve’s role during the 2008 financial crisis and the pandemic.“The Federal Reserve has not gone,” Buffett said. He added the Fed will “do whatever is necessary. ... That’s what happened in 2008 and 2009, and that’s what happened in 2020, and you’ll hope it happens again next time.”Buffett says he has \"so much trouble\" finding businesses to invest inWarren Buffett said Berkshire Hathaway is open to investing in businesses anywhere, not just in the U.S.“We have so much trouble finding good ideas that we can’t afford to ignore any,” Buffett said. “But they do have to be sizable.”Buffett said while he does seek out new investments, he prefers to be approached proactively.“We’ll pay any price, climb any hills to find businesses, but we actually prefer when they fall into our lap,” Buffett said.Munger says today’s stock market \"almost a mania of speculation\"Munger said today’s stock market has become “almost a mania of speculation.”His comment alluded to both high frequency algorithmic trading and access new investors have that intensified during the pandemic.“We have computers with algorithms trading against other computers,” Munger said. “We’ve got people who know nothing about stocks, being advised by stockbrokers who know even less.“I understand the commission though,” Buffett joked.After Munger likened the activity to a casino, where people play craps and roulette, Buffett expanded on the comparison.“People and traders’ poker chips are pulling the handle,” he said. “They’ve got the system set up so that if you want to buy a three-day call on the stock you can do it and they make more money selling you calls than if you buy stock, so they teach you calls. Nobody’s going around selling calls on farms. That’s why markets do crazy things. Occasionally Berkshire gets a chance to do something. It’s not because we’re smarter. … we’re sane, and that’s the main requirement in this business.”Munger blasts calls for separate Berkshire chairman and CEOBerkshire Hathaway Vice Chairman Charlie Munger had some stern words in response to a proposal to oust CEO Warren Buffett as chairman.“It’s the most ridiculous criticism I ever heard,” Munger said.“It’s like Odysseus would come back from winning the battle of Troy and so forth and some guy would say, ‘I don’t like the way you were holding your spear when you won that battle,’” he added, referencing ancient Greek epic “The Odyssey.”The California Public Employees’ Retirement System, or CalPERS, the biggest public pension fund in the U.S., earlier this month said it would vote in favor of a shareholder proposal to remove Buffett from his chairman role while remaining CEO. The proposal’s aim stems from concerns about corporate governance with one person holding dual roles.“Some guy that’s never run any business, doesn’t know anything — I don’t think too much of this activity,” Munger said.Berkshire’s head of insurance explains how Geico has fallen behind rival ProgressiveBerkshire Hathaway Vice Chairman Ajit Jain, who runs all of the conglomerate’s insurance businesses, lamented about how Geico has fallen behind rival Progressive in the car insurance business.“Each one have their plusses and minuses, but having said that, there’s no question that recently Progressive has done a much better job than Geico … both in terms of margins and in terms of growth,” Jain said.“There are a number of causes for that, but I think the biggest culprit is as far as Geico is concerned … is telematics,” he added. Telematics refers to putting a device on a car that tracks driving patterns, in exchange for a lower insurance rate.“Progressive has been on the telematics bandwagon for more than 10 years. Geico, until recently, wasn’t involved in telematics,” Jain said. “It’s a long journey, but the journey has started, and the initial results are promising. It will take a while, but my hope is that in the next year or two, Geico will be positioned to catch up with Progressive.”Jain’s comments came after Berkshire reported earlier in the day a massive earnings drop in its insurance underwriting business for the first quarter.Buffett says he has never been \"good at timing\"Warren Buffett said he has never figured out how to time the markets.“We haven’t the faintest idea what the stock market was gonna do when it opens on Monday,” Buffett said in response to an audience question.“I don’t think we’ve ever made a decision where either one of us has either said or been thinking we should buy or sell based on what the market is going to do, or for that matter, on what the economy’s going to do. We don’t know,” he continued.The Oracle of Omaha said he often gets misplaced credit for the stock winners he’s picked over the years, pointing out he’s also missed out on some big opportunities as well. Buffett said he failed to make some big purchases in the early days of the pandemic. In a single day in March 2020, the Dow Jones Industrial Average dropped 12.9%,its worst day since 1987.Instead, Buffett adheres to a value investing strategy, or picking stocks with attractive valuations, instead of focusing on the vagaries of the stock market.“We have not been good at timing,” Buffett said. “We’ve been reasonably good at figuring out when we were getting enough for our money. And we had no idea when we bought anything, but we always hoped it would the down for a while so we could buy more. ... I mean, that stuff, you could you could learn in fourth grade.”Munger says \"just say no\" to putting bitcoin in your retirement accountCharlie Munger is still down on bitcoin.He responded to an audience member question asking what single stock they would invest in given how high inflation has been rising.The Berkshire executives didn’t say where they would put their money, but Munger was clear about where he wouldn’t invest: bitcoin.“When you have your own retirement account, and your friendly adviser suggests you put all the money in into bitcoin, just say no,” he said.Munger’s answer was a thinly veiled reference tobig news from Fidelity this week, which will now allow employees to putbitcoininto their employee-sponsored retirement accounts.Munger and Buffett have both long been critics of bitcoin, which has become increasingly attractive to certain investors for its potential as an inflation hedge.Buffett describes his start to investing when he was 11 years oldA trip to the New York Stock Exchange when he was 9 years old was inspiring for Warren Buffett, who is known to have started investing when he was 11 years old.“I went to the New York Stock Exchange, I was in awe of it,” Buffett said. “I got very interested in technical analysis and charted stocks and did all kinds of crazy things, did hours and hours and hours and saved money to buy other stocks and tried shorting. I just did everything.”The investor bought a stock at 11 after spending his childhood reading books on the subject from the library and in his father’s office. He said his approach to investing later changed completely when he was 19 or 20 years old after reading one particular book passage in what he said must have been Benjamin Graham’s “The Intelligent Investor.”“I looked at this book and I saw one paragraph and it told me I’ve been doing everything wrong. I just had the whole approach wrong,” Buffett said.Buffett wants to make it clear he’s not the only one picking stocks at Berkshire HathawayWarren Buffett wants to make it clear that he’s not the only one at Berkshire Hathaway picking stocks.“I see headlines in papers just time after time after time that say, ‘Buffett’s buying such and such,’” Buffett said. “I’m not buying such and such. Berkshire Hathaway is buying.”The investor said a stock pick may have been made by other finance professionals in his organization without Buffett’s ever having heard of it.“But the headline will attract more people if it says Buffett buying this than if it says Berkshire Hathaway, and we don’t know whether it is the people that work for him, the headline is designed to bring people into the story,” Buffett said.“The easiest thing to do is basically shut up and not have a bunch of people facing consequences they didn’t ask for in the first place,” he said.Buffett says inflation ‘swindles almost everybody’When asked about his previous comments that inflation “swindles” equity investors, Buffett said the damage from rising prices was much broader than that.“Inflation swindles the bond investor, too. It swindles the person who keeps their cash under their mattress. It swindles almost everybody,” he said.Buffett pointed out that inflation also raises the amount of capital that companies need to have and that it isn’t as simple as raising prices to maintain inflation-adjusted profits.The Berkshire Hathaway CEO cautioned against listening to people who claim to be able to predict the path of inflation.“The question is how much ... and the answer is nobody knows,” Buffett said.Buffett reiterated that the best protection against the inflation is investing in your own skills.Buffett says Berkshire now owns 9.5% of Activision BlizzardWarren Buffett said Berkshire Hathaway has been increasing its stake inActivision Blizzardin a merger arbitrage bet thatMicrosoft’sproposed acquisition of the video game company will close.In the fourth quarter of 2021, Berkshire first purchased about $1 billion worth of Activision Blizzard stock, in a bet the company was undervalued. Buffett has saidBerkshire “had no prior knowledge”of Microsoft’s plan to buy the company when Berkshire made its initial investment.In January, Microsoftannounced intentions to buy Activisionfor $95 per share. Its stock closed at $75.60 per share on Friday.Buffett said he has been buying more shares of Activision since the deal was announced as the stock is trading way below Microsoft’s offer. Buying at these levels will yield a bigger return if the deal closes.Buffett said Berkshire now owns about 9.5% of Activision. “If we went over 10%, we would file a report,” he said.“If the deal goes through, we make some money, and if the deal doesn’t go through, who knows what happens,” Buffett said.“We don’t know what the Justice Department will do, we don’t know what the E.U. will do, we don’t know what 30 other jurisdictions will do. One thing we do know is that Microsoft has the money,” Buffett added.Buffett: ‘I look at Berkshire as a painting’The possibilities for Berkshire Hathaway are endless in the eyes of Warren Buffett, who likened the company to a work of art.“I look at Berkshire as a painting,” Buffett said. “It’s unlimited in size; it’s got an ever-expanding canvas, and I get to paint what I want.”Buffett did acknowledge that he doesn’t know much about art, but added that “other people look at paintings and they see something, then they’ll see something additional later on, and they really have a different sort of perception in relation to that. To me, Berkshire is a painting, and I get to paint.”“It’s in my head, and I see different things in it as I go along,” Buffett said. “It’s satisfying.”Buffett calls Jerome Powell a heroIn addressing a question about inflation, Buffett talked about the massive stimulus during the pandemic as a key reason for the rising prices now.“You print loads of money, and money is going to be worth less,” Buffett said.However, he did not criticize the Federal Reserve for its actions to boost money supply and stabilize markets during the health crisis.“In my book,Jay Powellis a hero. It’s very simple. He did what he had to do,” Buffett said.Buffett says people are becoming more tribalWarren Buffett said people are becoming more tribal.“My general assumption — there’s no way to prove it — but essentially, people are now behaving somewhat more tribal than they have for a long time,” Buffett said.“It’s fun to participate in, but it can get very dangerous when people say two plus two is five and the other says two plus two is three, you know, and they’re gonna give you those answers,” he continued.The investor said the country seems as tribal as it appeared during the 1930s when public sentiment was split in the U.S. around Franklin Roosevelt. Buffett said he was raised in a household where he and his siblings weren’t served dessert until they “said something nasty” about Roosevelt.“I don’t think it’s a good development for society,” Buffett said.Buffett says he won’t buy bitcoin because ‘it doesn’t produce anything’Warren Buffettreiterated his skepticism of bitcoin on Saturday, saying he would be unwilling to buy it for even extremely low prices because it produces nothing of value.“Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything,” Buffett said. “It’s got a magic to it and people have attached magics to lots of things.”Buffett listed farmland, apartment buildings — and even art — as assets that had more tangible value than bitcoin.“Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted. You can come up with all kinds of things. We can put up Berkshire coins, put up Berkshire money but in the end, this is money,” he said, holding up a $20 bill. “And there’s no reason in the world why the United States government … is going to let Berkshire money replace theirs.”Berkshire’s business meeting concludes with shareholder votesBerkshire’s formal business meeting followed nearly five hours of Q&A with Warren Buffett and Charlie Munger. Shareholders voted on a number of proposals at the meeting.The proposal that garnered most attention was from the non-profit National Legal and Policy Center. It calls for the company to strip Buffett of his chairman role. Shareholders voted down the proposal backed by CALPERS, the largest U.S. public pension fund.Brunel Pension requested the board of Berkshire to publish an annual assessment addressing how the company manages physical and transitional climate-related risks. The number of votes against the motion outnumbered the ones for it.One shareholder also took issue with Berkshire’s climate change initiative. The proposal called for Berkshire to issue a report addressing if and how it intends to measure, disclose, and reduce the GHG emissions associated in alignment with the Paris Agreement’s 1.5°C goal, requiring net zero emissions. Shareholders voted it down.The last proposal asked Berkshire to report to shareholders on the outcomes of their diversity, equity and inclusion efforts by publishing quantitative data on workforce composition and recruitment, retention, and promotion rates of employees by gender, race, and ethnicity. The motion also failed.","news_type":1,"symbols_score_info":{"BRK.B":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":431,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916224635,"gmtCreate":1664605134627,"gmtModify":1676537484466,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Super","listText":"Super","text":"Super","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9916224635","repostId":"1101553620","repostType":2,"repost":{"id":"1101553620","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":1664595421,"share":"https://ttm.financial/m/news/1101553620?lang=en_US&edition=fundamental","pubTime":"2022-10-01 11:37","market":"us","language":"en","title":"Tesla Showed Humanoid Robot Optimus on Friday Night at AI Day 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=1101553620","media":"Tiger Newspress","summary":"Tesla Inc. AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk","content":"<html><head></head><body><p><b>Tesla Inc.</b> AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk.</p><p>Musk along with other executives, including Tesla Director of Autopilot Software Ashok Elluswamy would likely make presentations.</p><p>Notable updates expected out of the event are related to the Optimus Tesla bot, the full self-driving software, the Dojo supercomputer, Tesla’s neural network training supercomputer and possibly Robotaxis.</p><p>Musk is hoping to use the event to hire the best AI talent who could drive innovation in that arena.</p><p>Musk gets started with a reference to Optimus and reminds people that Tesla is a public company. He jestingly remarks even he is not immune to firing, especially if he goes crazy. Musk says AI, Autopilot, Dojo and a &#39;long&#39; question &amp; answers session on the agenda — folks welcome to ask existential or technical questions — whatever floats their boat.</p><p>Tesla bot is on stage — a real one, a sleek looking one! It’s waving to the crowd now. So, we do have a prototype!</p><p>Musk says the bot can do more than what it&#39;s doing on stage. A video showing its other functionalities is presented, where the bot is seen working at the Fremont factory, watering plants among other things. Musk says the humanoid can identify objects. A bot with Tesla-designed actuators — Musk says it would be ready to walk in a few weeks.</p><p>Optimus can move fingers. The goal is to make it useful, Musk says. It is &#34;extremely useful&#34; and made in volume, probably in volumes. So, could cost less, about $20,000, according to Tesla.</p><p>Musk appreciates the team for doing a wonderful job but says still a lot of improvements to be made. He is appealing to talent to join the company as it seeks to &#34;do the right thing.&#34;</p><p>Musk gives his vision for the economy — a future of abundance, with no poverty. A fundamental transformation that promises safety.</p><p>He repeats why Tesla remains is a public company, giving control to people. The public can influence Tesla’s policies and actions.</p><p>After the pitch to talent, another Tesla team member walks the audience through the development timeline of the Tesla bot.</p><p>On power consumption of bot, 100W sitting, 500W for brisk walking, and it weighs 73 kg. Degrees of freedom is at above 200.</p><p>Tesla shows Optimus with actuators. The company is working on optimizing costs, reducing wiring in extremities and centralizing power distribution.</p><p>The battery pack is at the torso of the bot — charing, power distribution all at one place. Leveraging the existing Tesla supply chain for it, the bot is going to do everything a human brain does. Support communication is wireless.</p><p>Malcolm Burgess, Manager, Vehicle Dynamics and Concept Structures at Tesla, now on stage showcases how Optimus is immune to injury in the wake of a falling. The bot is made with materials such as titanium that are not stiff.</p><p>Tesla has taken inspiration from biology for the bot’s movement. Most important things from a design perspective are energy and mass. Tesla has carried its experience from car to robots, Burgess says.</p><p>The bot having 28 actuators allows high-level activity like walking and climbing stairs. An actuator is able to lift a halftone, 9-foot piano, a video shows.</p><p>On hand design: Bot has five fingers. The real utility is in factories for lifting objects. Six actuators and 11 degrees of freedom and adaptive grasp and non-back drivable fingers for the bot.</p><p>We are moving from robot on wheels to robot on legs, say Tesla. Video showcases the locomotion of the robot.</p><p>Tesla Humanoid Robotics Engineer Felix Sygulla talks about walking and aspects of engineering challenges involved in this action.</p><p>Controls are very complex, he says. Measuring reality and adding corrections to the behavior of the robot is important.</p><p>That’s all on Optimus. Now, it is over to Tesla Director for Autopilot Software Ashok Elluswamy for FSD updates.</p><p>Tesla has gone from 2,000 cars running FSD to 160,000 customers in a year, Elluswamy says. About 75,000 neural network models run each year, the pace of innovation is progressing.</p><p>FSD Beta Software is &#34;quite capable&#34; of driving the car, he says, including stopping for traffic lights and stop signs, negotiating with objects at intersections and making turns and so on. Tesla showcases a video on how Tesla deals with traffic and pedestrians at the intersections.</p><p>Tesla analyst Gene Munster on rising FSD customers says, &#34;My guess is there are just under [two million Tesla vehicles] on the road that can run FSD, suggesting about 10% uptake. Hard to read too much into that uptake. I bet most are geeks who got FSD to play with the tech.&#34;</p><p>Tesla explains model behind how FSD makes a turn decision.</p><p>Musk tweets, &#34;the point of AI Day is to show the immense depth [and] breadth of Tesla in AI, compute hardware &amp; robotics.&#34; Prominent Tesla influencer Sawyer Merritt says the event shows &#34;people calling Tesla &#39;just an automaker&#39; have no damn clue.&#34; His main takeaway from the event is &#34;</p><p>Optimus is farther along than most expected and they are very serious about it. The progress [over ]the last [eight] months is incredible.&#34;</p><p>While Tesla engineers show off the technical details behind its self-driving software, have a sneak-peak at the company&#39;s Dojo supercomputer!</p><p>It&#39;s time to get Dojo supercomputer updates from Dojo Project lead <b>Ganesh Venkataramanan</b> and Tesla director <b>Peter Bannon.</b></p><p>Tesla is a hardcore tech company, Bannon says, as he gives some background on Dojo. No limits philosophy was the guiding point for Dojo, Venkataramanan says.</p><p>Dojo Principal System Engineer Bill Chang says vision for the supercomuter is to build a single unified accelerator, &#34;a very large one.&#34;</p><p>Musk tweets that &#34;naturally, there will be a catgirl version of our Optimus robot.&#34; He shares a photo of him standing alongside the bot prototype.</p><p>The coefficient of thermal expansion is important. So, Tesla worked with vendors to deliver power solutions. CTE was reduced by over 50%, and Dojo met performance three times over initial expansion, says Chang. He adds, solving density at every level is key to achieving performance.</p><p>Tesla Principal Engineer Rajiv Kurian shares images of Cybertruck on Mars generated by stable diffusion running on Dojo — He quips: looks like it still has a long way to go before matching the Tesla design team.</p><p>Musk closes the presentation, by outlining Tesla&#39;s plan for the humanoid. &#34;Our goal with Optimus is to have a robot that is maximally useful as quickly as possible.&#34;</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>Tesla Showed Humanoid Robot Optimus on Friday Night at AI Day 2022</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Showed Humanoid Robot Optimus on Friday Night at AI Day 2022\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\">2022-10-01 11:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><b>Tesla Inc.</b> AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk.</p><p>Musk along with other executives, including Tesla Director of Autopilot Software Ashok Elluswamy would likely make presentations.</p><p>Notable updates expected out of the event are related to the Optimus Tesla bot, the full self-driving software, the Dojo supercomputer, Tesla’s neural network training supercomputer and possibly Robotaxis.</p><p>Musk is hoping to use the event to hire the best AI talent who could drive innovation in that arena.</p><p>Musk gets started with a reference to Optimus and reminds people that Tesla is a public company. He jestingly remarks even he is not immune to firing, especially if he goes crazy. Musk says AI, Autopilot, Dojo and a &#39;long&#39; question &amp; answers session on the agenda — folks welcome to ask existential or technical questions — whatever floats their boat.</p><p>Tesla bot is on stage — a real one, a sleek looking one! It’s waving to the crowd now. So, we do have a prototype!</p><p>Musk says the bot can do more than what it&#39;s doing on stage. A video showing its other functionalities is presented, where the bot is seen working at the Fremont factory, watering plants among other things. Musk says the humanoid can identify objects. A bot with Tesla-designed actuators — Musk says it would be ready to walk in a few weeks.</p><p>Optimus can move fingers. The goal is to make it useful, Musk says. It is &#34;extremely useful&#34; and made in volume, probably in volumes. So, could cost less, about $20,000, according to Tesla.</p><p>Musk appreciates the team for doing a wonderful job but says still a lot of improvements to be made. He is appealing to talent to join the company as it seeks to &#34;do the right thing.&#34;</p><p>Musk gives his vision for the economy — a future of abundance, with no poverty. A fundamental transformation that promises safety.</p><p>He repeats why Tesla remains is a public company, giving control to people. The public can influence Tesla’s policies and actions.</p><p>After the pitch to talent, another Tesla team member walks the audience through the development timeline of the Tesla bot.</p><p>On power consumption of bot, 100W sitting, 500W for brisk walking, and it weighs 73 kg. Degrees of freedom is at above 200.</p><p>Tesla shows Optimus with actuators. The company is working on optimizing costs, reducing wiring in extremities and centralizing power distribution.</p><p>The battery pack is at the torso of the bot — charing, power distribution all at one place. Leveraging the existing Tesla supply chain for it, the bot is going to do everything a human brain does. Support communication is wireless.</p><p>Malcolm Burgess, Manager, Vehicle Dynamics and Concept Structures at Tesla, now on stage showcases how Optimus is immune to injury in the wake of a falling. The bot is made with materials such as titanium that are not stiff.</p><p>Tesla has taken inspiration from biology for the bot’s movement. Most important things from a design perspective are energy and mass. Tesla has carried its experience from car to robots, Burgess says.</p><p>The bot having 28 actuators allows high-level activity like walking and climbing stairs. An actuator is able to lift a halftone, 9-foot piano, a video shows.</p><p>On hand design: Bot has five fingers. The real utility is in factories for lifting objects. Six actuators and 11 degrees of freedom and adaptive grasp and non-back drivable fingers for the bot.</p><p>We are moving from robot on wheels to robot on legs, say Tesla. Video showcases the locomotion of the robot.</p><p>Tesla Humanoid Robotics Engineer Felix Sygulla talks about walking and aspects of engineering challenges involved in this action.</p><p>Controls are very complex, he says. Measuring reality and adding corrections to the behavior of the robot is important.</p><p>That’s all on Optimus. Now, it is over to Tesla Director for Autopilot Software Ashok Elluswamy for FSD updates.</p><p>Tesla has gone from 2,000 cars running FSD to 160,000 customers in a year, Elluswamy says. About 75,000 neural network models run each year, the pace of innovation is progressing.</p><p>FSD Beta Software is &#34;quite capable&#34; of driving the car, he says, including stopping for traffic lights and stop signs, negotiating with objects at intersections and making turns and so on. Tesla showcases a video on how Tesla deals with traffic and pedestrians at the intersections.</p><p>Tesla analyst Gene Munster on rising FSD customers says, &#34;My guess is there are just under [two million Tesla vehicles] on the road that can run FSD, suggesting about 10% uptake. Hard to read too much into that uptake. I bet most are geeks who got FSD to play with the tech.&#34;</p><p>Tesla explains model behind how FSD makes a turn decision.</p><p>Musk tweets, &#34;the point of AI Day is to show the immense depth [and] breadth of Tesla in AI, compute hardware &amp; robotics.&#34; Prominent Tesla influencer Sawyer Merritt says the event shows &#34;people calling Tesla &#39;just an automaker&#39; have no damn clue.&#34; His main takeaway from the event is &#34;</p><p>Optimus is farther along than most expected and they are very serious about it. The progress [over ]the last [eight] months is incredible.&#34;</p><p>While Tesla engineers show off the technical details behind its self-driving software, have a sneak-peak at the company&#39;s Dojo supercomputer!</p><p>It&#39;s time to get Dojo supercomputer updates from Dojo Project lead <b>Ganesh Venkataramanan</b> and Tesla director <b>Peter Bannon.</b></p><p>Tesla is a hardcore tech company, Bannon says, as he gives some background on Dojo. No limits philosophy was the guiding point for Dojo, Venkataramanan says.</p><p>Dojo Principal System Engineer Bill Chang says vision for the supercomuter is to build a single unified accelerator, &#34;a very large one.&#34;</p><p>Musk tweets that &#34;naturally, there will be a catgirl version of our Optimus robot.&#34; He shares a photo of him standing alongside the bot prototype.</p><p>The coefficient of thermal expansion is important. So, Tesla worked with vendors to deliver power solutions. CTE was reduced by over 50%, and Dojo met performance three times over initial expansion, says Chang. He adds, solving density at every level is key to achieving performance.</p><p>Tesla Principal Engineer Rajiv Kurian shares images of Cybertruck on Mars generated by stable diffusion running on Dojo — He quips: looks like it still has a long way to go before matching the Tesla design team.</p><p>Musk closes the presentation, by outlining Tesla&#39;s plan for the humanoid. &#34;Our goal with Optimus is to have a robot that is maximally useful as quickly as possible.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101553620","content_text":"Tesla Inc. AI Day 2022 is slated to get started “precisely” at 09:15 p.m. ET, according to Elon Musk.Musk along with other executives, including Tesla Director of Autopilot Software Ashok Elluswamy would likely make presentations.Notable updates expected out of the event are related to the Optimus Tesla bot, the full self-driving software, the Dojo supercomputer, Tesla’s neural network training supercomputer and possibly Robotaxis.Musk is hoping to use the event to hire the best AI talent who could drive innovation in that arena.Musk gets started with a reference to Optimus and reminds people that Tesla is a public company. He jestingly remarks even he is not immune to firing, especially if he goes crazy. Musk says AI, Autopilot, Dojo and a 'long' question & answers session on the agenda — folks welcome to ask existential or technical questions — whatever floats their boat.Tesla bot is on stage — a real one, a sleek looking one! It’s waving to the crowd now. So, we do have a prototype!Musk says the bot can do more than what it's doing on stage. A video showing its other functionalities is presented, where the bot is seen working at the Fremont factory, watering plants among other things. Musk says the humanoid can identify objects. A bot with Tesla-designed actuators — Musk says it would be ready to walk in a few weeks.Optimus can move fingers. The goal is to make it useful, Musk says. It is \"extremely useful\" and made in volume, probably in volumes. So, could cost less, about $20,000, according to Tesla.Musk appreciates the team for doing a wonderful job but says still a lot of improvements to be made. He is appealing to talent to join the company as it seeks to \"do the right thing.\"Musk gives his vision for the economy — a future of abundance, with no poverty. A fundamental transformation that promises safety.He repeats why Tesla remains is a public company, giving control to people. The public can influence Tesla’s policies and actions.After the pitch to talent, another Tesla team member walks the audience through the development timeline of the Tesla bot.On power consumption of bot, 100W sitting, 500W for brisk walking, and it weighs 73 kg. Degrees of freedom is at above 200.Tesla shows Optimus with actuators. The company is working on optimizing costs, reducing wiring in extremities and centralizing power distribution.The battery pack is at the torso of the bot — charing, power distribution all at one place. Leveraging the existing Tesla supply chain for it, the bot is going to do everything a human brain does. Support communication is wireless.Malcolm Burgess, Manager, Vehicle Dynamics and Concept Structures at Tesla, now on stage showcases how Optimus is immune to injury in the wake of a falling. The bot is made with materials such as titanium that are not stiff.Tesla has taken inspiration from biology for the bot’s movement. Most important things from a design perspective are energy and mass. Tesla has carried its experience from car to robots, Burgess says.The bot having 28 actuators allows high-level activity like walking and climbing stairs. An actuator is able to lift a halftone, 9-foot piano, a video shows.On hand design: Bot has five fingers. The real utility is in factories for lifting objects. Six actuators and 11 degrees of freedom and adaptive grasp and non-back drivable fingers for the bot.We are moving from robot on wheels to robot on legs, say Tesla. Video showcases the locomotion of the robot.Tesla Humanoid Robotics Engineer Felix Sygulla talks about walking and aspects of engineering challenges involved in this action.Controls are very complex, he says. Measuring reality and adding corrections to the behavior of the robot is important.That’s all on Optimus. Now, it is over to Tesla Director for Autopilot Software Ashok Elluswamy for FSD updates.Tesla has gone from 2,000 cars running FSD to 160,000 customers in a year, Elluswamy says. About 75,000 neural network models run each year, the pace of innovation is progressing.FSD Beta Software is \"quite capable\" of driving the car, he says, including stopping for traffic lights and stop signs, negotiating with objects at intersections and making turns and so on. Tesla showcases a video on how Tesla deals with traffic and pedestrians at the intersections.Tesla analyst Gene Munster on rising FSD customers says, \"My guess is there are just under [two million Tesla vehicles] on the road that can run FSD, suggesting about 10% uptake. Hard to read too much into that uptake. I bet most are geeks who got FSD to play with the tech.\"Tesla explains model behind how FSD makes a turn decision.Musk tweets, \"the point of AI Day is to show the immense depth [and] breadth of Tesla in AI, compute hardware & robotics.\" Prominent Tesla influencer Sawyer Merritt says the event shows \"people calling Tesla 'just an automaker' have no damn clue.\" His main takeaway from the event is \"Optimus is farther along than most expected and they are very serious about it. The progress [over ]the last [eight] months is incredible.\"While Tesla engineers show off the technical details behind its self-driving software, have a sneak-peak at the company's Dojo supercomputer!It's time to get Dojo supercomputer updates from Dojo Project lead Ganesh Venkataramanan and Tesla director Peter Bannon.Tesla is a hardcore tech company, Bannon says, as he gives some background on Dojo. No limits philosophy was the guiding point for Dojo, Venkataramanan says.Dojo Principal System Engineer Bill Chang says vision for the supercomuter is to build a single unified accelerator, \"a very large one.\"Musk tweets that \"naturally, there will be a catgirl version of our Optimus robot.\" He shares a photo of him standing alongside the bot prototype.The coefficient of thermal expansion is important. So, Tesla worked with vendors to deliver power solutions. CTE was reduced by over 50%, and Dojo met performance three times over initial expansion, says Chang. He adds, solving density at every level is key to achieving performance.Tesla Principal Engineer Rajiv Kurian shares images of Cybertruck on Mars generated by stable diffusion running on Dojo — He quips: looks like it still has a long way to go before matching the Tesla design team.Musk closes the presentation, by outlining Tesla's plan for the humanoid. \"Our goal with Optimus is to have a robot that is maximally useful as quickly as possible.\"","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":488,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9087828056,"gmtCreate":1650987797377,"gmtModify":1676534828763,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Grab more?","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Grab more?","text":"$Grab Holdings(GRAB)$Grab more?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9087828056","isVote":1,"tweetType":1,"viewCount":584,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947945462,"gmtCreate":1682511138456,"gmtModify":1682511143624,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Don't underestimate Google","listText":"Don't underestimate Google","text":"Don't underestimate Google","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947945462","repostId":"1164465293","repostType":4,"isVote":1,"tweetType":1,"viewCount":2740,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9945455855,"gmtCreate":1681567092477,"gmtModify":1681567737896,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","listText":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","text":"One of the few or maybe the only person who has a stake in nearly all new nascent world charging business... Where will be strike next?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9945455855","repostId":"2327177777","repostType":2,"isVote":1,"tweetType":1,"viewCount":750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9075420233,"gmtCreate":1658243366022,"gmtModify":1676536127514,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Nice article with example","listText":"Nice article with example","text":"Nice article with example","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9075420233","repostId":"1185506686","repostType":2,"repost":{"id":"1185506686","kind":"news","pubTimestamp":1658216005,"share":"https://ttm.financial/m/news/1185506686?lang=en_US&edition=fundamental","pubTime":"2022-07-19 15:33","market":"us","language":"en","title":"How to Trade Options in a Bear Market: Retired Math Teacher","url":"https://stock-news.laohu8.com/highlight/detail?id=1185506686","media":"Business Insider","summary":"Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.This y","content":"<html><head></head><body><ul><li>Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.</li><li>This year, he pivoted to bear call spreads because the market became bullish.</li><li>It allows him to earn premiums and some capital gains without buying the underlying stocks.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5787b4d8beaf64c2401f662b3fb1ff2c\" tg-width=\"1300\" tg-height=\"975\" referrerpolicy=\"no-referrer\"/><span>Steve Chen became financially free at the age of 33. Steve Chen</span></p><p>Steve Chen spent his career as a middle-school math teacher until he retired from the job at the early age of 33 in February 2020.</p><p>He hadn&#39;t initially planned to leave that early. However, after landing his first $5,000 paycheck and seeing what he was left with after all the deductions were made, he realized he needed to find additional income streams.</p><p>One key takeaway he had after reading examples of others retiring early was that investing every month was a key factor in growing wealth. So he opened a brokerage account and began by simply investing in companies he was familiar with and broad-market exchange-traded funds such as Vanguard 500 (VOO), which tracks the S&amp;P 500.</p><p>As Chen became more familiar with investing by watching YouTube videos and reading blogs, he began to explore options trading, which took off for him in 2020.</p><p>By 2021, between his retirement and brokerage accounts, he had a net profit of $76,925.88 from options trading, according to records viewed by Insider. Chen estimates that about 5% came from dividends paid by the underlying stocks he had call options on, 10% from capital gains from selling the call options, and the remainder came from premiums.</p><p>He&#39;s now the founder of Call To Leap, a website that teaches financial education around saving and investing, including options trading, for a fee.</p><p>Throughout 2020 and 2021, Chen mainly focused on selling covered calls, an options trade where he purchased shares of a stock and then sold a contract that gave the rights to another trader to purchase those shares at a certain price by a certain date. In exchange, he received a premium for that contract. Most of the time, Chen&#39;s shares weren&#39;t purchased away. This strategy not only allowed him to own stocks that appreciated over time, but also collect a fee on the call option.</p><p>He was also purchasing LEAPS, longer-term options contracts of one year or more that gave him the right to purchase shares away from another trader.</p><p>Covered calls were more profitable when the stock market was trending either neutral or bullish because the value of the underlying stock was increasing. Chen could put his shares to work by collecting premiums and if sold, also collecting capital gains.</p><p>LEAPS were highly profitable for him during the bull market that engulfed most of 2020 and 2021 because they enabled him to hold the rights to purchase shares at a designated price in the future. Since share prices were rising rapidly and faster than the contract decayed, he often didn&#39;t buy the shares but resold that contract at a higher value for a profit.</p><p>This year, stock investors haven&#39;t been as bullish. Year-to-date, the S&amp;P 500 has tumbled by about 19% and the Dow by about 14%.</p><p>Chen told Insider he noticed the downtrend on January 18, after the support line in the S&amp;P 500&#39;s technical chart broke, indicating a reversal pattern to a downward trend. He was also aware that the Federal Reserve was planning on raising interest rates to combat rising inflation. This meant that the downward trend could be strung out.</p><p>These two factors led him to pivot his options strategy to set up what&#39;s known as bear call spreads. This is an advanced options trade that is more ideal in a bear market because it allows a trader to profit from a falling stock price and the time decay of the contract without the risk of incurring unrealized losses due to the falling price of the underlying stock. This is because Chen doesn&#39;t need to actually buy the shares he&#39;s placing under contract.</p><p>Chen says the strategy isn&#39;t for everybody. This approach is for traders who have already been options trading in bullish and neutral markets and want to pivot to doing it in a bear market. Additionally, users often won&#39;t have access to this option in their brokerage account if they haven&#39;t been trading more basic options.</p><p><b>Setting up bear call spreads</b></p><p>Setting up a bear call spread requires two main steps.</p><p>First, Chen needs to buy an out-of-the-money call option, which will act as a proxy for the shares he plans to sell under contract. He needs to do this because brokerages often won&#39;t allow traders to sell a call option contract unless they can cover themselves. Since Chen doesn&#39;t want to buy the actual shares, he purchases a covered call for the same number of shares he plans on selling. The strike price, which is the price he agrees to pay, is out-of-the-money because it&#39;s above the stock price.</p><p>In reality, he has no intention of executing this contract because it has a high strike price. Yet he chooses it because it has a lower premium.</p><p>Once he&#39;s covered, he sells a different out-of-the-money call option that matches the number of shares and expiry date from the call option he purchased. This time, he sets a strike price that would earn him a premium higher than the purchased contract.</p><p>In the event that the trader who purchased Chen&#39;s call option decides to exercise the contract and take possession of the shares, Chen would need to purchase those shares to deliver on the contract. To avoid being in a position where he overpays for the stock, he sets up a third step, which is a buy stop order slightly below the strike price of the call option he sold. Traders who don&#39;t take this third step would have to purchase the shares at market value and risk incurring a realized loss.</p><p>&#34;My intention is to not let the stock [price] surpass my sold call option contract strike [price],&#34; Chen said.</p><p>One example of him setting up a bear call spread was on June 26, when he bought four call options for AMD with a strike price of $150 that expired on July 15. At the time, AMD was trading at around $87. The contracts cost him $82.64. Once he established his proxy, he sold four call options of AMD at a strike price of $125. The premium he earned on that contract was $525.34.</p><p>He then set up a buy stop order at a share price of $124. This way, if his shares were called away, he&#39;d sell them with a capital gain of $1 on each share for a total of $400. However, in this instance, Chen kept his shares. Therefore, after deducting the cost of the call order he purchased, his total profit from the premium was $442.70, according to records viewed by Insider. In the event his buy order was executed appropriately and his shares were also sold, he could have had a total profit of $842.70.</p><p>Chen will also reduce his risk by purchasing his call option back when the contract loses 50% to 80% of its value. This allows him to pay less than what he initially sold the call option for and close the contract. In turn, reducing the number of days he&#39;s at risk. He sets expiration dates that range from 30 to 45 days out.</p><p>Chen teaches his students to pick expiration dates two to five weeks out because that&#39;s when the theta decay, which is the rate of decline in the value of the contract over time, is fastest, while the premium collected is optimal. The goal is to get both options to expire worthless as fast as possible during a downward trend.</p><p><b>Risks</b></p><p>One of the main risks Chen considers when setting up the options trade is the possibility of a buy stop order not executing. This could happen if the stock&#39;s price moves up too quickly. To avoid this, he will set up a buy stop market order rather than a buy stop limit order. The former will purchase the shares once it surpasses the set price even if it&#39;s slightly above. On the other end, the latter will only execute a buy order at exactly the set price.</p><p>While his risk is reduced, he may end up paying slightly over the price he intended. So far this incident has only happened to him once when Nike&#39;s (NKE) stock price shot up in September of 2020. Chen told Insider that by the time the buy order was executed, it was above his contract&#39;s strike price. Therefore, he purchased the shares at a higher price than what he sold them for.</p><p>The second risk happens when a buy order executes while the stock&#39;s price is rising but then the price drops before the trader decides to purchase his shares away. This could leave Chen with an unrealized loss.</p><p>For example, in 2020, Chen recalls setting up a bear call spread on AMD. The buy stop ordered was triggered but the shares were not purchased away from him. He was left with AMD shares that didn&#39;t move up in value. To mitigate his losses, he converted the trade into a covered call and kept collecting premiums on it until the shares were called away, sending him into a net positive.</p><p><b>3 criteria for picking the underlying stocks</b></p><p>In the event Chen ends up with an executed buy stop order but the shares aren&#39;t sold, he wants to ensure he&#39;s still holding stocks that have a higher probability of appreciating in the long term. Therefore, he sticks to what he believes are quality stocks.</p><ol><li>He picks stocks that are in the S&amp;P 500 or the Dow Jones Industrial Average because there is more institutional involvement and they have a higher probability of increasing in the long term.</li><li>He picks companies with strong fundamentals, which include consistent revenue growth and selling high-demand products or services.</li><li>The company&#39;s historical stock chart has a strong upward trend, especially over the past five years.</li></ol></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>How to Trade Options in a Bear Market: Retired Math Teacher</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\">\nHow to Trade Options in a Bear Market: Retired Math Teacher\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-19 15:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businessinsider.com/how-to-trade-options-in-bear-market-stocks-strategy-risks-2022-7><strong>Business Insider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.This year, he pivoted to bear call spreads because the market became bullish.It allows him to earn ...</p>\n\n<a href=\"https://www.businessinsider.com/how-to-trade-options-in-bear-market-stocks-strategy-risks-2022-7\">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",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.businessinsider.com/how-to-trade-options-in-bear-market-stocks-strategy-risks-2022-7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185506686","content_text":"Steve Chen was options trading covered calls and LEAPS options in neutral and bullish markets.This year, he pivoted to bear call spreads because the market became bullish.It allows him to earn premiums and some capital gains without buying the underlying stocks.Steve Chen became financially free at the age of 33. Steve ChenSteve Chen spent his career as a middle-school math teacher until he retired from the job at the early age of 33 in February 2020.He hadn't initially planned to leave that early. However, after landing his first $5,000 paycheck and seeing what he was left with after all the deductions were made, he realized he needed to find additional income streams.One key takeaway he had after reading examples of others retiring early was that investing every month was a key factor in growing wealth. So he opened a brokerage account and began by simply investing in companies he was familiar with and broad-market exchange-traded funds such as Vanguard 500 (VOO), which tracks the S&P 500.As Chen became more familiar with investing by watching YouTube videos and reading blogs, he began to explore options trading, which took off for him in 2020.By 2021, between his retirement and brokerage accounts, he had a net profit of $76,925.88 from options trading, according to records viewed by Insider. Chen estimates that about 5% came from dividends paid by the underlying stocks he had call options on, 10% from capital gains from selling the call options, and the remainder came from premiums.He's now the founder of Call To Leap, a website that teaches financial education around saving and investing, including options trading, for a fee.Throughout 2020 and 2021, Chen mainly focused on selling covered calls, an options trade where he purchased shares of a stock and then sold a contract that gave the rights to another trader to purchase those shares at a certain price by a certain date. In exchange, he received a premium for that contract. Most of the time, Chen's shares weren't purchased away. This strategy not only allowed him to own stocks that appreciated over time, but also collect a fee on the call option.He was also purchasing LEAPS, longer-term options contracts of one year or more that gave him the right to purchase shares away from another trader.Covered calls were more profitable when the stock market was trending either neutral or bullish because the value of the underlying stock was increasing. Chen could put his shares to work by collecting premiums and if sold, also collecting capital gains.LEAPS were highly profitable for him during the bull market that engulfed most of 2020 and 2021 because they enabled him to hold the rights to purchase shares at a designated price in the future. Since share prices were rising rapidly and faster than the contract decayed, he often didn't buy the shares but resold that contract at a higher value for a profit.This year, stock investors haven't been as bullish. Year-to-date, the S&P 500 has tumbled by about 19% and the Dow by about 14%.Chen told Insider he noticed the downtrend on January 18, after the support line in the S&P 500's technical chart broke, indicating a reversal pattern to a downward trend. He was also aware that the Federal Reserve was planning on raising interest rates to combat rising inflation. This meant that the downward trend could be strung out.These two factors led him to pivot his options strategy to set up what's known as bear call spreads. This is an advanced options trade that is more ideal in a bear market because it allows a trader to profit from a falling stock price and the time decay of the contract without the risk of incurring unrealized losses due to the falling price of the underlying stock. This is because Chen doesn't need to actually buy the shares he's placing under contract.Chen says the strategy isn't for everybody. This approach is for traders who have already been options trading in bullish and neutral markets and want to pivot to doing it in a bear market. Additionally, users often won't have access to this option in their brokerage account if they haven't been trading more basic options.Setting up bear call spreadsSetting up a bear call spread requires two main steps.First, Chen needs to buy an out-of-the-money call option, which will act as a proxy for the shares he plans to sell under contract. He needs to do this because brokerages often won't allow traders to sell a call option contract unless they can cover themselves. Since Chen doesn't want to buy the actual shares, he purchases a covered call for the same number of shares he plans on selling. The strike price, which is the price he agrees to pay, is out-of-the-money because it's above the stock price.In reality, he has no intention of executing this contract because it has a high strike price. Yet he chooses it because it has a lower premium.Once he's covered, he sells a different out-of-the-money call option that matches the number of shares and expiry date from the call option he purchased. This time, he sets a strike price that would earn him a premium higher than the purchased contract.In the event that the trader who purchased Chen's call option decides to exercise the contract and take possession of the shares, Chen would need to purchase those shares to deliver on the contract. To avoid being in a position where he overpays for the stock, he sets up a third step, which is a buy stop order slightly below the strike price of the call option he sold. Traders who don't take this third step would have to purchase the shares at market value and risk incurring a realized loss.\"My intention is to not let the stock [price] surpass my sold call option contract strike [price],\" Chen said.One example of him setting up a bear call spread was on June 26, when he bought four call options for AMD with a strike price of $150 that expired on July 15. At the time, AMD was trading at around $87. The contracts cost him $82.64. Once he established his proxy, he sold four call options of AMD at a strike price of $125. The premium he earned on that contract was $525.34.He then set up a buy stop order at a share price of $124. This way, if his shares were called away, he'd sell them with a capital gain of $1 on each share for a total of $400. However, in this instance, Chen kept his shares. Therefore, after deducting the cost of the call order he purchased, his total profit from the premium was $442.70, according to records viewed by Insider. In the event his buy order was executed appropriately and his shares were also sold, he could have had a total profit of $842.70.Chen will also reduce his risk by purchasing his call option back when the contract loses 50% to 80% of its value. This allows him to pay less than what he initially sold the call option for and close the contract. In turn, reducing the number of days he's at risk. He sets expiration dates that range from 30 to 45 days out.Chen teaches his students to pick expiration dates two to five weeks out because that's when the theta decay, which is the rate of decline in the value of the contract over time, is fastest, while the premium collected is optimal. The goal is to get both options to expire worthless as fast as possible during a downward trend.RisksOne of the main risks Chen considers when setting up the options trade is the possibility of a buy stop order not executing. This could happen if the stock's price moves up too quickly. To avoid this, he will set up a buy stop market order rather than a buy stop limit order. The former will purchase the shares once it surpasses the set price even if it's slightly above. On the other end, the latter will only execute a buy order at exactly the set price.While his risk is reduced, he may end up paying slightly over the price he intended. So far this incident has only happened to him once when Nike's (NKE) stock price shot up in September of 2020. Chen told Insider that by the time the buy order was executed, it was above his contract's strike price. Therefore, he purchased the shares at a higher price than what he sold them for.The second risk happens when a buy order executes while the stock's price is rising but then the price drops before the trader decides to purchase his shares away. This could leave Chen with an unrealized loss.For example, in 2020, Chen recalls setting up a bear call spread on AMD. The buy stop ordered was triggered but the shares were not purchased away from him. He was left with AMD shares that didn't move up in value. To mitigate his losses, he converted the trade into a covered call and kept collecting premiums on it until the shares were called away, sending him into a net positive.3 criteria for picking the underlying stocksIn the event Chen ends up with an executed buy stop order but the shares aren't sold, he wants to ensure he's still holding stocks that have a higher probability of appreciating in the long term. Therefore, he sticks to what he believes are quality stocks.He picks stocks that are in the S&P 500 or the Dow Jones Industrial Average because there is more institutional involvement and they have a higher probability of increasing in the long term.He picks companies with strong fundamentals, which include consistent revenue growth and selling high-demand products or services.The company's historical stock chart has a strong upward trend, especially over the past five years.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":502,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9970798332,"gmtCreate":1684928023626,"gmtModify":1684928027829,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Revenue vs market cap also very big multiple&nbsp;","listText":"Revenue vs market cap also very big multiple&nbsp;","text":"Revenue vs market cap also very big multiple","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970798332","repostId":"2337457950","repostType":2,"repost":{"id":"2337457950","kind":"highlight","pubTimestamp":1684927292,"share":"https://ttm.financial/m/news/2337457950?lang=en_US&edition=fundamental","pubTime":"2023-05-24 19:21","market":"us","language":"en","title":"1 Monster Opportunity in the Global Chip Shortage","url":"https://stock-news.laohu8.com/highlight/detail?id=2337457950","media":"Motley Fool","summary":"This chip giant seems to be enjoying solid demand thanks to the growing adoption of artificial intelligence applications.","content":"<div>\n<p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/\">Source Link</a>\n\n</div>\n","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>1 Monster Opportunity in the Global Chip Shortage</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\">\n1 Monster Opportunity in the Global Chip Shortage\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-24 19:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2023/05/23/1-monster-opportunity-in-the-global-chip-shortage/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2337457950","content_text":"The semiconductor industry has been hamstrung by supply chain issues for the past three years, triggered by the COVID-19 pandemic in 2020. That's when the demand for electronic devices skyrocketed thanks to shelter-in-place orders, and it led to a spurt in sales of personal computers (PCs), gaming consoles, and smartphones, among other things.While the semiconductor shortage has eased somewhat since (partly because the pent-up demand for consumer electronics devices subsided and because chipmakers brought more capacity online), there is one area where chip scarcity is rearing its head once again.Tech-focused business publication The Information pointed out last month that there was a massive spike in demand for server chips required for training and running artificial intelligence (AI) applications. That's not surprising as the AI chip market is expected to generate over $227 billion in annual revenue by 2032, clocking yearly growth of 30% over the next decade.One company stands to win big from this market -- Nvidia. And the evidence for that can be seen in the emerging shortage of AI chips. Let's take a closer look at what's going on in the chip markets and how it might benefit Nvidia stock owners.Customers are reportedly waiting to get their hands on Nvidia's chipsAccording to The Information, cloud infrastructure providers such as Amazon, Microsoft, Alphabet's Google, and Oracle are running at capacity thanks to the booming demand for AI software. Training and running AI software and workload requires graphics processing units (GPUs), which are chips capable of computing massive amounts of data.Nvidia is the leader in the GPU market. The company controls 85% of discrete graphics cards that are used by gamers in PCs, while its share of enterprise GPUs (which are deployed in data centers for AI and other workloads) reportedly stands at more than 90%. So, it is not surprising to see that there is a waiting period for Nvidia's GPUs.The semiconductor giant is reportedly sitting on an order backlog of two to three months for its cloud server chips. It is now feared that the waiting time for Nvidia's chips will slow down the development of generative AI applications. However, there are a few reasons why Nvidia may be able to overcome this shortage and speed up customers' AI initiatives.The tech giant is setting itself up to take advantage of this massive marketNvidia is reportedly placing more chip orders with its foundry partner Taiwan Semiconductor Manufacturing, popularly known as TSMC. Taiwan-based newspaper DigiTimes reports that TSMC has reportedly committed to delivering 10% to 20% additional chip on wafer on substrate (CoWoS) packaging to Nvidia that is meant for deployment in high-performance computing (HPC) applications.More importantly, Nvidia's new generation of data center GPUs could reduce the number of chips needed to train and run AI models. The company's latest generation H100 Hopper data center GPUs are reportedly up to 9 times faster in training AI models and 30 times faster during inferencing. What's more, Nvidia is providing access to a much faster AI chip at prices that are reportedly two to three times its previous generation A100 data center GPUs that are powering Microsoft and OpenAI's popular chatbot ChatGPT.In simpler words, Nvidia customers can now tackle much larger AI workloads with the H100 GPUs at an incrementally lower price as compared to the company's prior-generation A100 GPUs. So, it won't be surprising to see the demand for Nvidia's H100 GPUs improve in the future, especially considering that customers will need fewer of those chips to meet their AI-related needs.Given that the H100 GPUs are priced significantly higher than their predecessors, Nvidia could witness stronger margins and enjoy robust earnings growth in the long run. The good part is that Nvidia's H100 GPUs are already witnessing healthy demand as they are powering multiple generative AI applications from different customers.All this indicates that Nvidia could continue to dominate the AI chip market. One Wall Street analyst says that the AI opportunity could lead to a 5-times jump in Nvidia's stock price over the next decade. So, investors who are still of two minds about buying Nvidia stock following its 114% gains in 2023 can still consider buying the stock.Of course, some might argue that Nvidia trades at an expensive 173 times trailing earnings right now. However, its forward price-to-earnings (P/E) ratio of 67 points toward a solid bottom-line jump, which means that investors with the risk appetite to buy this richly valued AI stock can still buy it as it can deliver more upside even after terrific gains in 2023.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":1935,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947601218,"gmtCreate":1683006487435,"gmtModify":1683006959041,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Did First Republic Back management escape unscathed??","listText":"Did First Republic Back management escape unscathed??","text":"Did First Republic Back management escape unscathed??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947601218","repostId":"2332671317","repostType":2,"isVote":1,"tweetType":1,"viewCount":2271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947884445,"gmtCreate":1682924140888,"gmtModify":1682924145309,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","listText":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","text":"Interesting to see more nuggets of wisdom in this Saturday Berkshire meeting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947884445","repostId":"1139971500","repostType":2,"repost":{"id":"1139971500","kind":"news","pubTimestamp":1682898506,"share":"https://ttm.financial/m/news/1139971500?lang=en_US&edition=fundamental","pubTime":"2023-05-01 07:48","market":"us","language":"en","title":"Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans","url":"https://stock-news.laohu8.com/highlight/detail?id=1139971500","media":"Financial Times","summary":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American ban","content":"<div>\n<p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old...</p>\n\n<a href=\"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b\">Source Link</a>\n\n</div>\n","source":"lsy1580170736413","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Charlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans</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\">\nCharlie Munger: US Banks Are \"Full of\" Bad Commercial Property Loans\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-01 07:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b><strong>Financial Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old...</p>\n\n<a href=\"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BX":"黑石","BRK.B":"伯克希尔B","BAC":"美国银行","C":"花旗","JPM":"摩根大通","WFC":"富国银行","BRK.A":"伯克希尔"},"source_url":"https://www.ft.com/content/da9f8230-2eb1-49c5-b63a-f1507936d01b","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139971500","content_text":"Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall.The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property crash following a handful of bank failures.“It’s not nearly as bad as it was in 2008,” the Berkshire Hathaway vice-chair told the Financial Times in an interview. “But trouble happens to banking just like trouble happens everywhere else. In the good times you get into bad habits . . . When bad times come they lose too much.”Munger was speaking on the veranda of his home in Greater Wilshire, a leafy neighbourhood of Los Angeles where he has lived for 60 years since he designed the property himself.Dressed in a plaid shirt, Munger held court from his wheelchair as the travails of ailing California-based bank First Republic were playing out in real time on a television screen airing CNBC in the background.Berkshire has a long history of supporting US banks through periods of financial instability. The sprawling industrials-to-insurance behemoth invested $5bn in Goldman Sachs during the 2007-08 financial crisis and a similar sum in Bank of America in 2011.But the company has so far stayed on the sidelines of the current bout of turmoil, during which Silicon Valley Bank and Signature Bank collapsed. “Berkshire has made some bank investments that worked out very well for us,” said Munger. “We’ve had some disappointment in banks, too. It’s not that damned easy to run a bank intelligently, there are a lot of temptations to do the wrong thing.”Their reticence stems in part from lurking risks in banks’ vast portfolios of commercial property loans. “A lot of real estate isn’t so good any more,” Munger said. “We have a lot of troubled office buildings, a lot of troubled shopping centres, a lot of troubled other properties. There’s a lot of agony out there.”He noted that banks were already pulling back from lending to commercial developers. “Every bank in the country is way tighter on real estate loans today than they were six months ago,” he said. “They all seem [to be] too much trouble.”Munger grew up in Omaha, Nebraska, a few hundred feet from where Buffett now lives. The two met in 1959, when Buffett was 28 and Munger 35. Munger, who at one point worked in a grocery store owned by Buffett’s grandfather, trained as a lawyer before being coaxed into investment by his soon-to-be partner.Berkshire Hathaway chair Warren Buffett, left, and vice-chair Charlie Munger have known each other since 1959Buffett has credited Munger with encouraging him to move on from the “cigar-butt strategy” espoused by his mentor Benjamin Graham, which involved buying cheap stocks akin to a discarded cigar where just a single puff of value remained.In 2015, Buffett wrote in the conglomerate’s 50th annual letter: “The blueprint he [Munger] gave me was simple: Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices.”This approach has served them well. Berkshire has generated compounded annual returns of nearly 20 per cent, twice the rate of the benchmark S&P 500 stock index, since 1965.“We were a creature of a particular time and a perfect set of opportunities,” said Munger, adding he had lived during “a perfect period to be a common stock investor”.He and Buffett had benefited “by and large [from] low interest rates, low equity values, ample opportunities ”, he said.Munger said he had made most of his money from just four investments: Berkshire, retailer Costco, his investment in a fund managed by Li Lu’s Himalaya Capital and Afton Properties, a real estate venture that owns apartment buildings in California and New Jersey. Forbes estimates his wealth at $2.4bn.“It’s the nature of things that a very intelligent man working hard maybe gets three, four, five really good long-term opportunities of buying great companies at a cheap price,” he said. “It happens rarely.”Ahead of the company’s annual meeting on Saturday, tens of thousands of Berkshire shareholders will descend on Omaha to hear from the two nonagenarian investors as they attend something akin to a festival of capitalism.But Munger warned that the golden age for investing was over and investors would need to contend with a period of lower returns.“It’s gotten very tough to have anything like the returns that were obtained in the past,” he said, pointing to higher interest rates and a crowded field of investors chasing bargains and looking for companies with inefficiencies.“[At] the exact time that the game is getting tougher we’ve got more and more people trying to play it,” he said.Berkshire has struggled to find worthwhile investments at times over the past decade, a fact epitomised by a cash balance that often sits in excess of $100bn and the choice by the company to buy back tens of billions of dollars of its own shares.Munger also took aim at his own industry, hitting out at a “glut of investment managers that’s bad for the country”. Many of them are little more than “fortune tellers or astrologers who are dragging money out of their clients’ accounts, which [is] not being earned by any useful service”.He had harsh words for buyout groups as well. “There’s too much private equity, too many buyers of all kinds . . it’s making it a very tough game for everybody.”“The people getting the fees are still doing well,” he said of private equity fund managers. But he warned: “People that aren’t being served very well by paying all those fees may eventually be unwilling to pay them.”Where Buffett has emphatically told Berkshire shareholders to “never bet against America”, Munger is more cautious. “I do not think that we can take it as a given that American democracy will prosper and flourish forever,” he said. “But I think we’ll stumble through pretty well for quite a while yet.”On his own imprint on the world, Munger said: “I would like my legacy to be a more relentless determination to develop and use what I call an uncommon sense.”","news_type":1,"symbols_score_info":{"BRK.A":0.9,"JPM":0.9,"BRK.B":0.9,"BAC":0.9,"WFC":0.9,"BX":0.9,"C":0.9}},"isVote":1,"tweetType":1,"viewCount":2681,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944772719,"gmtCreate":1682302365731,"gmtModify":1682304425740,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Fed is in between a rock and a hard place","listText":"Fed is in between a rock and a hard place","text":"Fed is in between a rock and a hard place","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944772719","repostId":"1111405907","repostType":2,"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944453407,"gmtCreate":1682048360210,"gmtModify":1682048363978,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Tractor supply company is interesting, not generally mentioned","listText":"Tractor supply company is interesting, not generally mentioned","text":"Tractor supply company is interesting, not generally mentioned","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944453407","repostId":"1168323116","repostType":2,"isVote":1,"tweetType":1,"viewCount":758,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944634256,"gmtCreate":1681822678675,"gmtModify":1681822682613,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Maybe 420 is Elon's lucky charm","listText":"Maybe 420 is Elon's lucky charm","text":"Maybe 420 is Elon's lucky charm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944634256","repostId":"2328938234","repostType":4,"isVote":1,"tweetType":1,"viewCount":631,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":268378005409880,"gmtCreate":1706544875470,"gmtModify":1706544880070,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Great article","listText":"Great article","text":"Great article","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/268378005409880","repostId":"2391538859","repostType":2,"isVote":1,"tweetType":1,"viewCount":2209,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":226054401003552,"gmtCreate":1696253986417,"gmtModify":1696253990750,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/226054401003552","repostId":"2372881570","repostType":2,"repost":{"id":"2372881570","kind":"highlight","weMediaInfo":{"introduction":"Share your news with media, investors, and consumers with targeted distribution options from one of the world’s largest and most trusted newswires.","home_visible":1,"media_name":"GlobeNewswire","id":"1016364462","head_image":"https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a"},"pubTimestamp":1696219200,"share":"https://ttm.financial/m/news/2372881570?lang=en_US&edition=fundamental","pubTime":"2023-10-02 12:00","market":"us","language":"en","title":"Aemetis Biogas Closes $53 Million Sale of IRA Tax Credits","url":"https://stock-news.laohu8.com/highlight/detail?id=2372881570","media":"GlobeNewswire","summary":"CUPERTINO, CA, Oct.  02, 2023  (GLOBE NEWSWIRE) --  Tax credits generated by investment in negative carbon intensity renewable natural gas production; additional $800 million of IRA investment and pro","content":"<html><body><p>CUPERTINO, CA, Oct.  02, 2023  (GLOBE NEWSWIRE) -- <br/></p> <p><b><i>Tax credits generated by investment in negative carbon intensity renewable natural gas production; additional $800 million of IRA investment and production tax credits expected in the next four years from Aemetis renewable fuel projects </i></b></p> <p>via NewMediaWire – <b>Aemetis, Inc. </b>(NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, closed the sale of $53 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary Aemetis Biogas LLC to a corporate purchaser on September 29, 2023. This sale is the company’s first IRA tax credit transaction.  The Section 48 investment tax credits were generated from biogas projects built by Aemetis Biogas, including six diary digesters, a biogas pipeline and a renewable natural gas (RNG) production facility.</p> <p>The Inflation Reduction Act was signed into law in August 2022, and provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products. </p> <p>“We believe that this $53 million tax credit sale is the largest IRA tax credit transaction in the dairy biogas industry, demonstrating the transferability of tax credits under the federal Inflation Reduction Act and the ability of renewable fuels projects to generate funding from IRA tax credits to support investments,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis Five Year Plan is expected to qualify for more than $800 million of IRA investment and production tax credits during the next four years to support our biogas projects, CO2 re-use by our ethanol plant, the construction of our sustainable aviation fuel plant and CO2 sequestration.”</p> <p>Aemetis Biogas is building anaerobic digesters at California dairies to capture biomethane from animal waste. Aemetis has seven operating digesters and is actively growing with an additional five digesters under construction and a total of the 37 dairies under contract to supply animal waste. After removal of contaminants and pressurization of gas at the dairy, a biogas pipeline connects the dairies to a centralized facility located at the Aemetis Keyes ethanol plant where the biogas is upgraded into below zero carbon intensity RNG.  The RNG is injected into PG&amp;E’s natural gas pipeline for delivery to transportation fuel customers in California. <br/>Aemetis is also building its own RNG fueling station at the Keyes ethanol plant to fuel trucks with locally produced renewable natural gas that provides a 90% reduction in emissions compared to petroleum diesel fuel.</p> <p>Approximately 25% of the methane emissions in California are emitted from dairy waste lagoons. When fully built, the Aemetis biogas project plans to capture methane from the waste produced by more than 150,000 cows at dairy farms in California, producing 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is designed to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over ten years, equal to removing the emissions from approximately 150,000 cars per year.</p> <p><b>About Aemetis</b></p> <p>Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit <u>www.aemetis.com</u>.</p> <p><b>Safe Harbor Statement </b></p> <p>This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the development, construction and operation of the Aemetis Biogas RNG project, the SAF and renewable diesel plant, and the carbon capture and sequestration wells, as well as our ability to qualify for the receipt and transferability of tax credits under the Inflation Reduction Act, expected greenhouse gas emission reductions from the completed Aemetis Biogas RNG project, the development of biogas upgrading facilities, and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022 and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.</p> <p><strong>External Investor Relations</strong><br/><strong>Contact:</strong><br/>Kirin Smith<br/>PCG Advisory Group<br/>(646) 863-6519<br/><u>ksmith@pcgadvisory.com</u></p> <p><strong>Company Investor Relations/</strong><br/><strong>Media Contact:</strong><br/>Todd Waltz<br/>(408) 213-0940<br/><u>investors@aemetis.com</u></p> <br/><img referrerpolicy=\"no-referrer-when-downgrade\" src=\"https://ml.globenewswire.com/media/NWU5ZjJhZGMtYTQ2Ny00OTM0LTk3ZTEtN2RlMjkyM2NiYzBlLTUwMDA0NzQ1MQ==/tiny/Aemetis-Inc-.png\"/></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>Aemetis Biogas Closes $53 Million Sale of IRA Tax Credits</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\">\nAemetis Biogas Closes $53 Million Sale of IRA Tax Credits\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1016364462\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">GlobeNewswire </p>\n<p class=\"h-time\">2023-10-02 12:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>CUPERTINO, CA, Oct.  02, 2023  (GLOBE NEWSWIRE) -- <br/></p> <p><b><i>Tax credits generated by investment in negative carbon intensity renewable natural gas production; additional $800 million of IRA investment and production tax credits expected in the next four years from Aemetis renewable fuel projects </i></b></p> <p>via NewMediaWire – <b>Aemetis, Inc. </b>(NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, closed the sale of $53 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary Aemetis Biogas LLC to a corporate purchaser on September 29, 2023. This sale is the company’s first IRA tax credit transaction.  The Section 48 investment tax credits were generated from biogas projects built by Aemetis Biogas, including six diary digesters, a biogas pipeline and a renewable natural gas (RNG) production facility.</p> <p>The Inflation Reduction Act was signed into law in August 2022, and provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products. </p> <p>“We believe that this $53 million tax credit sale is the largest IRA tax credit transaction in the dairy biogas industry, demonstrating the transferability of tax credits under the federal Inflation Reduction Act and the ability of renewable fuels projects to generate funding from IRA tax credits to support investments,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis Five Year Plan is expected to qualify for more than $800 million of IRA investment and production tax credits during the next four years to support our biogas projects, CO2 re-use by our ethanol plant, the construction of our sustainable aviation fuel plant and CO2 sequestration.”</p> <p>Aemetis Biogas is building anaerobic digesters at California dairies to capture biomethane from animal waste. Aemetis has seven operating digesters and is actively growing with an additional five digesters under construction and a total of the 37 dairies under contract to supply animal waste. After removal of contaminants and pressurization of gas at the dairy, a biogas pipeline connects the dairies to a centralized facility located at the Aemetis Keyes ethanol plant where the biogas is upgraded into below zero carbon intensity RNG.  The RNG is injected into PG&amp;E’s natural gas pipeline for delivery to transportation fuel customers in California. <br/>Aemetis is also building its own RNG fueling station at the Keyes ethanol plant to fuel trucks with locally produced renewable natural gas that provides a 90% reduction in emissions compared to petroleum diesel fuel.</p> <p>Approximately 25% of the methane emissions in California are emitted from dairy waste lagoons. When fully built, the Aemetis biogas project plans to capture methane from the waste produced by more than 150,000 cows at dairy farms in California, producing 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is designed to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over ten years, equal to removing the emissions from approximately 150,000 cars per year.</p> <p><b>About Aemetis</b></p> <p>Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit <u>www.aemetis.com</u>.</p> <p><b>Safe Harbor Statement </b></p> <p>This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the development, construction and operation of the Aemetis Biogas RNG project, the SAF and renewable diesel plant, and the carbon capture and sequestration wells, as well as our ability to qualify for the receipt and transferability of tax credits under the Inflation Reduction Act, expected greenhouse gas emission reductions from the completed Aemetis Biogas RNG project, the development of biogas upgrading facilities, and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022 and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.</p> <p><strong>External Investor Relations</strong><br/><strong>Contact:</strong><br/>Kirin Smith<br/>PCG Advisory Group<br/>(646) 863-6519<br/><u>ksmith@pcgadvisory.com</u></p> <p><strong>Company Investor Relations/</strong><br/><strong>Media Contact:</strong><br/>Todd Waltz<br/>(408) 213-0940<br/><u>investors@aemetis.com</u></p> <br/><img referrerpolicy=\"no-referrer-when-downgrade\" src=\"https://ml.globenewswire.com/media/NWU5ZjJhZGMtYTQ2Ny00OTM0LTk3ZTEtN2RlMjkyM2NiYzBlLTUwMDA0NzQ1MQ==/tiny/Aemetis-Inc-.png\"/></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMTX":"Aemetis Inc","RNG":"Ringcentral Inc.","BK4138":"石油与天然气的炼制和营销","BK4528":"SaaS概念","BK4023":"应用软件","BK4585":"ETF&股票定投概念"},"source_url":"https://www.globenewswire.com/news-release/2023/10/02/2752715/0/en/Aemetis-Biogas-Closes-53-Million-Sale-of-IRA-Tax-Credits.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2372881570","content_text":"CUPERTINO, CA, Oct.  02, 2023  (GLOBE NEWSWIRE) --  Tax credits generated by investment in negative carbon intensity renewable natural gas production; additional $800 million of IRA investment and production tax credits expected in the next four years from Aemetis renewable fuel projects  via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on negative carbon intensity products, closed the sale of $53 million of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary Aemetis Biogas LLC to a corporate purchaser on September 29, 2023. This sale is the company’s first IRA tax credit transaction.  The Section 48 investment tax credits were generated from biogas projects built by Aemetis Biogas, including six diary digesters, a biogas pipeline and a renewable natural gas (RNG) production facility. The Inflation Reduction Act was signed into law in August 2022, and provides for the issuance of transferable federal income tax credits for certain renewable fuel projects and products.  “We believe that this $53 million tax credit sale is the largest IRA tax credit transaction in the dairy biogas industry, demonstrating the transferability of tax credits under the federal Inflation Reduction Act and the ability of renewable fuels projects to generate funding from IRA tax credits to support investments,” stated Eric McAfee, Chairman and CEO of Aemetis. “The Aemetis Five Year Plan is expected to qualify for more than $800 million of IRA investment and production tax credits during the next four years to support our biogas projects, CO2 re-use by our ethanol plant, the construction of our sustainable aviation fuel plant and CO2 sequestration.” Aemetis Biogas is building anaerobic digesters at California dairies to capture biomethane from animal waste. Aemetis has seven operating digesters and is actively growing with an additional five digesters under construction and a total of the 37 dairies under contract to supply animal waste. After removal of contaminants and pressurization of gas at the dairy, a biogas pipeline connects the dairies to a centralized facility located at the Aemetis Keyes ethanol plant where the biogas is upgraded into below zero carbon intensity RNG.  The RNG is injected into PG&E’s natural gas pipeline for delivery to transportation fuel customers in California. Aemetis is also building its own RNG fueling station at the Keyes ethanol plant to fuel trucks with locally produced renewable natural gas that provides a 90% reduction in emissions compared to petroleum diesel fuel. Approximately 25% of the methane emissions in California are emitted from dairy waste lagoons. When fully built, the Aemetis biogas project plans to capture methane from the waste produced by more than 150,000 cows at dairy farms in California, producing 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is designed to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over ten years, equal to removing the emissions from approximately 150,000 cars per year. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions.  Founded in 2006, Aemetis is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 60 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe.  Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals.  For additional information about Aemetis, please visit www.aemetis.com. Safe Harbor Statement  This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release include, without limitation, statements relating to the development, construction and operation of the Aemetis Biogas RNG project, the SAF and renewable diesel plant, and the carbon capture and sequestration wells, as well as our ability to qualify for the receipt and transferability of tax credits under the Inflation Reduction Act, expected greenhouse gas emission reductions from the completed Aemetis Biogas RNG project, the development of biogas upgrading facilities, and our ability to promote, develop and deploy technologies to produce renewable fuels and biochemicals.  Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “showing signs,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties.  Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022 and in our subsequent filings with the SEC.  We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws. External Investor RelationsContact:Kirin SmithPCG Advisory Group(646) 863-6519ksmith@pcgadvisory.com Company Investor Relations/Media Contact:Todd Waltz(408) 213-0940investors@aemetis.com","news_type":1,"symbols_score_info":{"AMTX":1,"RNG":1}},"isVote":1,"tweetType":1,"viewCount":2719,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947699624,"gmtCreate":1683018859669,"gmtModify":1683018863415,"author":{"id":"4107067226858820","authorId":"4107067226858820","name":"PeanutButterMonster","avatar":"https://community-static.tradeup.com/news/b755699bba0c75bab0fb8daf50e5b7f1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4107067226858820","idStr":"4107067226858820"},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947699624","repostId":"2332934815","repostType":2,"isVote":1,"tweetType":1,"viewCount":2165,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}