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富川

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- 富川富川
  ·08-13
  $3倍做多韩国ETF-Direxion(KORU)$
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- 富川富川
  ·08-13
  $3倍做多韩国ETF-Direxion(KORU)$ [开心] [开心] [开心]
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- 富川富川
  ·01-16
  $三倍做多半导体ETF-Direxion Daily(SOXL)$
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- 富川富川
  ·2025-11-20
  $三倍做多富时中国ETF-Direxion(YINN)$ [白眼]
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- 富川富川
  ·2025-11-20
  $三倍做多富时中国ETF-Direxion(YINN)$ [流泪]
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- 富川富川
  ·2022-12-26
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  Sorry, this post has been deleted
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- 富川富川
  ·2022-12-11
  👍
  Does a dovish Fed mean US stocks are rising? The market is starting to worry about a recession.
  有关美国经济正滑向衰退的持续警告终于触动了华尔街的神经。有关美国经济正滑向衰退的持续警告终于触动了华尔街的神经。过去两个月里，投资者无视各种警告——从40年来最严重的美债收益率曲线倒挂，到2022年油
  Does a dovish Fed mean US stocks are rising? The market is starting to worry about a recession.
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- 富川富川
  ·2022-12-02
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  Foreign Media Headlines | US Core PCE Still Far Exceeds Fed Target, Hopes for a Soft Landing Slim
  　　10月美国一项基准通胀指标——核心PCE同比上涨5%，同比升幅6%，仍远高于美联储2%的目标，美联储通胀降温但经济不衰退的希望仍然渺茫。美联储主席鲍威尔本周强调，核心PCE是他认为更能准确反映通胀走向的指标。　　在截至11月19日当周，美国持续申领失业救济人数增加5.7万人，至160万人，为一年来最大增幅。　　美国商务部周四发布的数据显示，10月份个人储蓄占可支配收入之比降至2.3%。
  Foreign Media Headlines | US Core PCE Still Far Exceeds Fed Target, Hopes for a Soft Landing Slim
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- 富川富川
  ·2022-11-18
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  Masayoshi Son announces his farewell
  “这将是我最后一次在财务业绩会上发言。”在最新软银集团财季报告的舞台上，孙正义郑重宣布以后不再出席软银的财报会议，并将集团的日常管理工作移交给CFO后藤芳光（Yoshimitsu Goto）等高管。这
  Masayoshi Son announces his farewell
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- 富川富川
  ·2022-11-17
  [微笑]
  Sorry, this post has been deleted
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11:11","market":"us","language":"zh","title":"Does a dovish Fed mean US stocks are rising? The market is starting to worry about a recession.","url":"https://stock-news.laohu8.com/highlight/detail?id=1135427428","media":"智通财经网","summary":"有关美国经济正滑向衰退的持续警告终于触动了华尔街的神经。有关美国经济正滑向衰退的持续警告终于触动了华尔街的神经。过去两个月里，投资者无视各种警告——从40年来最严重的美债收益率曲线倒挂，到2022年油","content":"<p><html><head></head><body>Persistent warnings that the U.S. economy is sliding into recession have finally struck a nerve on Wall Street. Persistent warnings that the U.S. economy is sliding into recession have finally struck a nerve on Wall Street. Over the past two months, investors have ignored various warnings—from the worst inversion of the U.S. Treasury yield curve in 40 years to the collapse of the sharp rise in oil prices in 2022; But investors now seem to be betting that the biggest threat to risky assets is an impending slowdown in economic growth.</p><p>Cyclical stocks caused the S&P 500 to fall 3.4% this week after the index failed to hold above its 200-day average. Although optimism that the Federal Reserve would slow down rate hike had driven U.S. stocks up 14% since mid-October, investor sentiment has now soured, with concerns that if the Fed does indeed slow down rate hike, it will signal a downturn in the U.S. economy.</p><p>There are already signs that U.S. economic growth is slowing under the Federal Reserve's aggressive tightening policies. The U.S. service sector contracted last month; Although the labor market remains strong, there has been some weakness, with the number of first-time unemployment claims increasing recently. Meanwhile, inflation may have peaked, but it remains high enough to keep the Federal Reserve on guard, increasing the risk of excessive tightening.</p><p>Peter Tchir, head of macro strategy at Academy Securities, said: “We will shift from ‘bad data is good news’ to ‘bad data is bad news’ because it is a signal that the economy is weakening faster and worse than most people expect.”</p><p><img src=\"https://static.tigerbbs.com/c916ab1d72ccba5e0bd166e03aeef039\" tg-width=\"934\" tg-height=\"499\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Markets have begun to view a series of discouraging economic news as bad news, rather than as a reason for a rally driven by the Federal Reserve's prospects for easing policy. Meanwhile, US inflation remains high – as evidenced by the better-than-expected US PPI growth in November. Overall, this is enough to suppress the upward trend since the fall.</p><p>Energy stocks have led the decline since the stock market peaked on the last day of November, unlike the first three sell-offs in 2022, when rising inflation spurred share prices of raw material producers. Companies that are more sensitive to the economy, such as financial companies and consumer goods manufacturers, lagged behind in December.</p><p>This shift is also evident in the fixed income sector. In early 2022, when inflation fears raged, bonds plummeted on three occasions when the S&P 500 fell by at least 10% from its peak. Now, bonds have begun to regain their status as recession hedges. On Wednesday, long-term U.S. Treasury Bond prices rose, and the 30-year U.S. Treasury Bond yield fell below 3.5%, the lowest level since September last year. The iShares 20-Year U.S. Treasury Bond ETF has risen 9% in the past three weeks.</p><p>Steve Sosnick, chief strategist at Interactive Brokers, said: \"If you buy stocks based on the idea that interest rates will be cut at some point in the future, unfortunately, that means an economic downturn will also come at some point in the future. So be careful when you make wishes.\"</p><p>In recent days, this information has been supported by executives at major Wall Street banks, whose CEOs are unanimously pessimistic about the prospects for U.S. economic growth and corporate profits. Even sell-side analysts who tend to tout the assets they sell have been clearly pessimistic in their predictions of a decline in 2023. The average forecast of strategists tracked by the media is that the S&P 500 will close at 4,009 points next year, their most pessimistic forecast since at least 1999.</p><p>Positions and trading patterns also indicate that investors are moving away from risky assets. EPFR data shows that investors withdrew from global stock markets at the fastest pace in five months, selling $35 billion in the past three weeks, compared to $23 billion they had hoarded a week earlier. The volatility signals also reinforce the transience of the recent rally, reflecting the situation before the end of the rally in March and August.</p><p>Technical indicators that stimulated buying in November have fallen this week. The S&P 500 failed to hold above its 200-day moving average and subsequently fell below the pullback/retracement level, which helps the bulls.</p><p><img src=\"https://static.tigerbbs.com/b0366d1ab17554afa57bf8480fcf4ca9\" tg-width=\"955\" tg-height=\"504\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>To further complicate matters, the stock market rally in November triggered the fastest easing of financial conditions since March 2020, according to a Goldman Sachs indicator, raising doubts about the Federal Reserve's ability to shift to an easing policy starting next year.</p><p>After being troubled by the intensity and persistence of inflationary pressures, Federal Reserve policymakers appear determined to peak rate hike at around 5%. This is bad news for the economy, which is expected to contract sometime next year.</p><p>\"There's still a lot of pain to go through,\" said Justin Burgin, head of equity research at Ameriprise Financial. \"We've seen almost no lag effects from this fastest rate hike in history.\"</p><p></body></html></p>","source":"highlight_zhitongcaijin","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>Does a dovish Fed mean US stocks are rising? The market is starting to worry about a recession.</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: 12.5px; color: #7E829C; margin: 0;}\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\">\nDoes a dovish Fed mean US stocks are rising? The market is starting to worry about a recession.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2022-12-10 11:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Persistent warnings that the U.S. economy is sliding into recession have finally struck a nerve on Wall Street. Persistent warnings that the U.S. economy is sliding into recession have finally struck a nerve on Wall Street. Over the past two months, investors have ignored various warnings—from the worst inversion of the U.S. Treasury yield curve in 40 years to the collapse of the sharp rise in oil prices in 2022; But investors now seem to be betting that the biggest threat to risky assets is an impending slowdown in economic growth.</p><p>Cyclical stocks caused the S&P 500 to fall 3.4% this week after the index failed to hold above its 200-day average. Although optimism that the Federal Reserve would slow down rate hike had driven U.S. stocks up 14% since mid-October, investor sentiment has now soured, with concerns that if the Fed does indeed slow down rate hike, it will signal a downturn in the U.S. economy.</p><p>There are already signs that U.S. economic growth is slowing under the Federal Reserve's aggressive tightening policies. The U.S. service sector contracted last month; Although the labor market remains strong, there has been some weakness, with the number of first-time unemployment claims increasing recently. Meanwhile, inflation may have peaked, but it remains high enough to keep the Federal Reserve on guard, increasing the risk of excessive tightening.</p><p>Peter Tchir, head of macro strategy at Academy Securities, said: “We will shift from ‘bad data is good news’ to ‘bad data is bad news’ because it is a signal that the economy is weakening faster and worse than most people expect.”</p><p><img src=\"https://static.tigerbbs.com/c916ab1d72ccba5e0bd166e03aeef039\" tg-width=\"934\" tg-height=\"499\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Markets have begun to view a series of discouraging economic news as bad news, rather than as a reason for a rally driven by the Federal Reserve's prospects for easing policy. Meanwhile, US inflation remains high – as evidenced by the better-than-expected US PPI growth in November. Overall, this is enough to suppress the upward trend since the fall.</p><p>Energy stocks have led the decline since the stock market peaked on the last day of November, unlike the first three sell-offs in 2022, when rising inflation spurred share prices of raw material producers. Companies that are more sensitive to the economy, such as financial companies and consumer goods manufacturers, lagged behind in December.</p><p>This shift is also evident in the fixed income sector. In early 2022, when inflation fears raged, bonds plummeted on three occasions when the S&P 500 fell by at least 10% from its peak. Now, bonds have begun to regain their status as recession hedges. On Wednesday, long-term U.S. Treasury Bond prices rose, and the 30-year U.S. Treasury Bond yield fell below 3.5%, the lowest level since September last year. The iShares 20-Year U.S. Treasury Bond ETF has risen 9% in the past three weeks.</p><p>Steve Sosnick, chief strategist at Interactive Brokers, said: \"If you buy stocks based on the idea that interest rates will be cut at some point in the future, unfortunately, that means an economic downturn will also come at some point in the future. So be careful when you make wishes.\"</p><p>In recent days, this information has been supported by executives at major Wall Street banks, whose CEOs are unanimously pessimistic about the prospects for U.S. economic growth and corporate profits. Even sell-side analysts who tend to tout the assets they sell have been clearly pessimistic in their predictions of a decline in 2023. The average forecast of strategists tracked by the media is that the S&P 500 will close at 4,009 points next year, their most pessimistic forecast since at least 1999.</p><p>Positions and trading patterns also indicate that investors are moving away from risky assets. EPFR data shows that investors withdrew from global stock markets at the fastest pace in five months, selling $35 billion in the past three weeks, compared to $23 billion they had hoarded a week earlier. The volatility signals also reinforce the transience of the recent rally, reflecting the situation before the end of the rally in March and August.</p><p>Technical indicators that stimulated buying in November have fallen this week. The S&P 500 failed to hold above its 200-day moving average and subsequently fell below the pullback/retracement level, which helps the bulls.</p><p><img src=\"https://static.tigerbbs.com/b0366d1ab17554afa57bf8480fcf4ca9\" tg-width=\"955\" tg-height=\"504\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>To further complicate matters, the stock market rally in November triggered the fastest easing of financial conditions since March 2020, according to a Goldman Sachs indicator, raising doubts about the Federal Reserve's ability to shift to an easing policy starting next year.</p><p>After being troubled by the intensity and persistence of inflationary pressures, Federal Reserve policymakers appear determined to peak rate hike at around 5%. This is bad news for the economy, which is expected to contract sometime next year.</p><p>\"There's still a lot of pain to go through,\" said Justin Burgin, head of equity research at Ameriprise Financial. \"We've seen almost no lag effects from this fastest rate hike in history.\"</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/845337.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e90f0093c95026e18203fb8d91b976d","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.zhitongcaijing.com/content/detail/845337.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1135427428","content_text":"有关美国经济正滑向衰退的持续警告终于触动了华尔街的神经。有关美国经济正滑向衰退的持续警告终于触动了华尔街的神经。过去两个月里，投资者无视各种警告——从40年来最严重的美债收益率曲线倒挂，到2022年油价大幅上涨的破灭;但投资者现在似乎开始押注风险资产面临的最大威胁是经济增长即将放缓。周期性股票导致标普500指数本周下跌3.4%，此前该指数未能维持在过去200天的平均价格之上。尽管自10月中旬以来，对美联储将放慢加息步伐的乐观情绪曾推动美国股市上涨14%，但投资者的情绪现在已经变得阴沉起来，他们担心美联储果真放慢加息步伐，将标志着美国经济陷入低迷。已经有迹象表明，在美联储激进的紧缩政策下，美国经济增长正在放缓。美国服务业上月出现萎缩;尽管劳动力市场依然强劲，但也出现了一些疲软，最近首续请失业金人数增加。与此同时，通胀可能已经见顶，但仍高到足以让美联储保持警惕，增加了过度紧缩的风险。Academy Securities宏观策略主管Peter Tchir表示:“我们将从‘坏数据就是好消息’转变成‘坏数据就是坏消息’，因为这是一个信号，表明经济正在以比大多数人预期的更快、更糟的速度走弱。”市场已经开始将一连串令人沮丧的经济消息视为坏消息，而不是将其视为美联储放宽政策前景带来的上涨理由。与此同时，美国通胀依然居高不下——美国11月PPI增速超预期就是明证。综合来看，这足以打压秋季以来的涨势。自股市在11月最后一天见顶以来，能源股领跌，这与2022年的前三次抛售不同，当时通胀加剧刺激了对原材料生产商的股价。对经济更为敏感的公司，如金融公司和消费品制造商，在12月份的表现较为滞后。这种转变在固定收益领域也很明显。在2022年早些时候，当通胀恐慌肆虐时，标普500指数从峰值下跌至少10%的三次情况中，债券都出现了暴跌。现在，债券已经开始恢复其作为经济衰退对冲的地位。周三，长期美国国债价格上涨，30年期美国国债收益率跌至3.5%以下，这是去年9月以来的最低水平。iShares 20年期以上美国国债ETF在过去三周上涨了9%。Interactive Brokers首席策略师Steve Sosnick表示:“如果你是基于未来某个时候会降息的想法来购买股票，不幸的是，这意味着经济疲软也会在未来某个时候到来。所以你许愿的时候一定要小心。”最近几天，这一信息得到了华尔街大行高管的支持，华尔街大行的首席执行官们一致对美国经济增长和企业盈利前景持悲观态度。即使是倾向于吹捧自己销售的资产的卖方分析师，也一直在明显悲观地预测，2023年将出现下跌。媒体追踪的策略师的平均预测是，标普500指数明年将收于4009点，这是他们至少自1999年以来最悲观的预测。仓位和交易模式也显示出投资者正在远离风险资产。EPFR的数据显示，投资者以五个月来最快的速度撤出全球股市，在过去三周抛售了350亿美元，而一周前他们还囤积了230亿美元。波动幅度的信号也强化了近期涨势的短暂性，反映了如3月和8月涨势结束前的情况。11月曾刺激买盘的技术指标水平本周出现回落。标普500指数未能守住200日移动均线上方，随后跌穿为多头提供帮助的回撤水平。让事情进一步复杂化的是，根据高盛集团的一项指标，11月的股市上涨引发了自2020年3月以来金融状况最快的宽松，这让人们对美联储从明年开始转向宽松政策的能力产生了怀疑。在被通胀压力的强度和持久力所困后，美联储政策制定者似乎决心将加息到5%左右的峰值。这对于明年某个时候将出现收缩的经济来说是个坏消息。Ameriprise Financial股票研究主管Justin Burgin表示:“还有很多痛苦要经历。我们几乎没有看到这次历史上最快加息的滞后效应。”","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965291211,"gmtCreate":1669953843433,"gmtModify":1676538277653,"author":{"id":"4090574021972690","authorId":"4090574021972690","name":"富川","avatar":"https://community-static.tradeup.com/news/07ec540f55a9536b728e59a537869d3e","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4090574021972690","idStr":"4090574021972690"},"themes":[],"title":"","htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965291211","repostId":"2288839109","repostType":4,"repost":{"id":"2288839109","kind":"highlight","pubTimestamp":1669930251,"share":"https://ttm.financial/m/news/2288839109?lang=en_US&edition=fundamental","pubTime":"2022-12-02 05:30","market":"sh","language":"zh","title":"Foreign Media Headlines | US Core PCE Still Far Exceeds Fed Target, Hopes for a Soft Landing Slim","url":"https://stock-news.laohu8.com/highlight/detail?id=2288839109","media":"环球市场播报","summary":"　　10月美国一项基准通胀指标——核心PCE同比上涨5%，同比升幅6%，仍远高于美联储2%的目标，美联储通胀降温但经济不衰退的希望仍然渺茫。美联储主席鲍威尔本周强调，核心PCE是他认为更能准确反映通胀走向的指标。　　在截至11月19日当周，美国持续申领失业救济人数增加5.7万人，至160万人，为一年来最大增幅。　　美国商务部周四发布的数据显示，10月份个人储蓄占可支配收入之比降至2.3%。","content":"<p><html><head></head><body><b>The main headlines that global financial media focused on last night and this morning were:</b></p><p><b>1. US core PCE far exceeds the Fed's 2% target; hopes for a soft landing remain slim.</b><b>2. The number of people claiming unemployment benefits in the United States continues to rise to its highest level since February, making re-employment more difficult.</b><b>3. The U.S. savings rate fell to its lowest level since 2005 in October, hit by both persistent inflation and Fed rate hike.</b><b>4. The Chicago Federal Reserve appointed former Obama administration advisor Goolsby as its new president.</b><b>5. Credit Suisse's stock price has hit its longest losing streak in history, falling 66% this year.</b><b>6. UK house prices fell more than expected, and soaring mortgage rates dampened demand.</b><img src=\"https://static.tigerbbs.com/5b26f4dcea8cd92793b55e49bafa9f8d\" tg-width=\"550\" tg-height=\"346\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>US core PCE far exceeds the Fed's 2% target; hopes for a soft landing remain slim.</b></p><p>In October, core PCE, a benchmark inflation measure in the United States, rose 5% year-on-year, a 6% increase, still far exceeding the Federal Reserve's 2% target. The Fed's hopes of cooling inflation but avoiding a recession remain slim.</p><p>Data released by the U.S. Commerce Department on Thursday showed that the personal consumption expenditures price index (PCE), excluding food and energy, rose 0.2% in October, a lower-than-expected increase. Federal Reserve Chairman Jerome Powell emphasized this week that core PCE is an indicator that he believes more accurately reflects the direction of inflation.</p><p>Core PCE rose 5% year-on-year, with the September increase revised upward to 5.2%.</p><p>Overall PCE rose 0.3% month-on-month for the third consecutive month and 6% year-on-year, still far exceeding the Federal Reserve's 2% target.</p><p><img src=\"https://static.tigerbbs.com/00bd89a1ca05a83b77f9ce74a93c3892\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The number of people claiming unemployment benefits in the United States continues to rise to its highest level since February, making re-employment more difficult.</b></p><p>The number of people continuing to claim unemployment benefits in the United States rose to its highest level since February, indicating that it is becoming more difficult for unemployed Americans to find new jobs in a gradually cooling labor market.</p><p>In the week ending November 19, the number of people continuing to claim unemployment benefits in the United States increased by 57,000 to 1.6 million, the largest increase in a year.</p><p>Data from the U.S. Labor Department on Thursday showed that initial jobless claims fell by 16,000 to 225,000 in the week ending November 26. The median estimate of economists surveyed by Bloomberg was 235,000.</p><p><img src=\"https://static.tigerbbs.com/ee6f67b8dab72d003d6a36b4735a6092\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The U.S. savings rate fell to its lowest level since 2005 in October, hit by both persistent inflation and Fed rate hike.</b></p><p>Americans' savings rate hit its lowest level since 2005, highlighting that inflation and rising borrowing costs are eroding households' financial buffers.</p><p>Data released by the U.S. Commerce Department on Thursday showed that personal savings as a percentage of disposable income fell to 2.3% in October. The report also shows that although inflation has cooled slightly, inflation-adjusted spending remains strong.</p><p>Under the dual impact of persistent inflation and Federal Reserve rate hike, U.S. consumer spending is unlikely to decline. The most representative example is the increase in credit card spending, with the year-on-year increase in U.S. household debt in the third quarter reaching its highest level since 2008.</p><p><img src=\"https://static.tigerbbs.com/d525cc42899299aa4b8612a0f9436181\" tg-width=\"550\" tg-height=\"310\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The Chicago Federal Reserve has appointed former Obama administration advisor Goolsby as its new president.</b></p><p>The Chicago Fed has appointed Austan Goolsbee, an economist who served as an advisor to former President Obama, as its new president. The current president, Evans, will retire next January.</p><p>The Chicago Fed said in an emailed statement Thursday that Goolsby, 53, who is currently a professor of economics at the University of Chicago Booth School of Business, will take office on January 9. Goolsbee was a former chairman of the Council of Economic Advisers and the youngest member of President Barack Obama's cabinet.</p><p>Evans led the Chicago Fed for 15 years, and for most of his tenure, he was one of the Fed's most dovish policymakers.</p><p><img src=\"https://static.tigerbbs.com/25334e85cba6df35ddcc81c2f9c1e561\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Credit Suisse's stock price has hit its longest losing streak in history, falling 66% this year.</b></p><p>Credit Suisse Group's stock price fell for the 13th consecutive day, marking its longest losing streak in history. The Swiss bank is in deep trouble, and its capital raising plan has further impacted its share price after years of scandals and mismanagement.</p><p>Credit Suisse closed down 6.1% to a record low of $3.08 on Thursday. The stock price has fallen by about 21% since November 23, when the bank said its key wealth management business was experiencing a large outflow of funds and that it could suffer another significant loss in the fourth quarter, reaching 1.5 billion Swiss francs ($1.6 billion).</p><p><img src=\"https://static.tigerbbs.com/a348a366bc39d591cfb5fb19987fb1ac\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>UK house prices fell more than expected as soaring mortgage rates dampened demand.</b></p><p>UK mortgage lender Nationwide Building Society said that after soaring borrowing costs dampened demand, UK house prices fell more than expected, and at the fastest rate since the outbreak of the COVID-19 pandemic.</p><p>UK house prices fell 1.4% in November, the agency said. This is the second decline in months and the largest drop since June 2020. Excluding the pandemic, UK house prices have not fallen so sharply since the global financial crisis more than a decade ago. Economists had previously expected a 0.4% decline.</p><p>Home loan costs have soared to more than 6% in recent weeks from around 1% a year ago, influenced by the Bank of England's increase in benchmark lending rates and investor concerns about slowing economic growth and rising government debt. Although borrowers' costs have fallen from their peak, they may still be much higher than buyers' levels for most of the past decade.</p><p></body></html></p>","source":"sina_us","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>Foreign Media Headlines | US Core PCE Still Far Exceeds Fed Target, Hopes for a Soft Landing Slim</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: 12.5px; color: #7E829C; margin: 0;}\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\">\nForeign Media Headlines | US Core PCE Still Far Exceeds Fed Target, Hopes for a Soft Landing Slim\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">环球市场播报</strong><span class=\"h-time small\">2022-12-02 05:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>The main headlines that global financial media focused on last night and this morning were:</b></p><p><b>1. US core PCE far exceeds the Fed's 2% target; hopes for a soft landing remain slim.</b><b>2. The number of people claiming unemployment benefits in the United States continues to rise to its highest level since February, making re-employment more difficult.</b><b>3. The U.S. savings rate fell to its lowest level since 2005 in October, hit by both persistent inflation and Fed rate hike.</b><b>4. The Chicago Federal Reserve appointed former Obama administration advisor Goolsby as its new president.</b><b>5. Credit Suisse's stock price has hit its longest losing streak in history, falling 66% this year.</b><b>6. UK house prices fell more than expected, and soaring mortgage rates dampened demand.</b><img src=\"https://static.tigerbbs.com/5b26f4dcea8cd92793b55e49bafa9f8d\" tg-width=\"550\" tg-height=\"346\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>US core PCE far exceeds the Fed's 2% target; hopes for a soft landing remain slim.</b></p><p>In October, core PCE, a benchmark inflation measure in the United States, rose 5% year-on-year, a 6% increase, still far exceeding the Federal Reserve's 2% target. The Fed's hopes of cooling inflation but avoiding a recession remain slim.</p><p>Data released by the U.S. Commerce Department on Thursday showed that the personal consumption expenditures price index (PCE), excluding food and energy, rose 0.2% in October, a lower-than-expected increase. Federal Reserve Chairman Jerome Powell emphasized this week that core PCE is an indicator that he believes more accurately reflects the direction of inflation.</p><p>Core PCE rose 5% year-on-year, with the September increase revised upward to 5.2%.</p><p>Overall PCE rose 0.3% month-on-month for the third consecutive month and 6% year-on-year, still far exceeding the Federal Reserve's 2% target.</p><p><img src=\"https://static.tigerbbs.com/00bd89a1ca05a83b77f9ce74a93c3892\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The number of people claiming unemployment benefits in the United States continues to rise to its highest level since February, making re-employment more difficult.</b></p><p>The number of people continuing to claim unemployment benefits in the United States rose to its highest level since February, indicating that it is becoming more difficult for unemployed Americans to find new jobs in a gradually cooling labor market.</p><p>In the week ending November 19, the number of people continuing to claim unemployment benefits in the United States increased by 57,000 to 1.6 million, the largest increase in a year.</p><p>Data from the U.S. Labor Department on Thursday showed that initial jobless claims fell by 16,000 to 225,000 in the week ending November 26. The median estimate of economists surveyed by Bloomberg was 235,000.</p><p><img src=\"https://static.tigerbbs.com/ee6f67b8dab72d003d6a36b4735a6092\" tg-width=\"550\" tg-height=\"367\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The U.S. savings rate fell to its lowest level since 2005 in October, hit by both persistent inflation and Fed rate hike.</b></p><p>Americans' savings rate hit its lowest level since 2005, highlighting that inflation and rising borrowing costs are eroding households' financial buffers.</p><p>Data released by the U.S. Commerce Department on Thursday showed that personal savings as a percentage of disposable income fell to 2.3% in October. The report also shows that although inflation has cooled slightly, inflation-adjusted spending remains strong.</p><p>Under the dual impact of persistent inflation and Federal Reserve rate hike, U.S. consumer spending is unlikely to decline. The most representative example is the increase in credit card spending, with the year-on-year increase in U.S. household debt in the third quarter reaching its highest level since 2008.</p><p><img src=\"https://static.tigerbbs.com/d525cc42899299aa4b8612a0f9436181\" tg-width=\"550\" tg-height=\"310\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>The Chicago Federal Reserve has appointed former Obama administration advisor Goolsby as its new president.</b></p><p>The Chicago Fed has appointed Austan Goolsbee, an economist who served as an advisor to former President Obama, as its new president. The current president, Evans, will retire next January.</p><p>The Chicago Fed said in an emailed statement Thursday that Goolsby, 53, who is currently a professor of economics at the University of Chicago Booth School of Business, will take office on January 9. Goolsbee was a former chairman of the Council of Economic Advisers and the youngest member of President Barack Obama's cabinet.</p><p>Evans led the Chicago Fed for 15 years, and for most of his tenure, he was one of the Fed's most dovish policymakers.</p><p><img src=\"https://static.tigerbbs.com/25334e85cba6df35ddcc81c2f9c1e561\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>Credit Suisse's stock price has hit its longest losing streak in history, falling 66% this year.</b></p><p>Credit Suisse Group's stock price fell for the 13th consecutive day, marking its longest losing streak in history. The Swiss bank is in deep trouble, and its capital raising plan has further impacted its share price after years of scandals and mismanagement.</p><p>Credit Suisse closed down 6.1% to a record low of $3.08 on Thursday. The stock price has fallen by about 21% since November 23, when the bank said its key wealth management business was experiencing a large outflow of funds and that it could suffer another significant loss in the fourth quarter, reaching 1.5 billion Swiss francs ($1.6 billion).</p><p><img src=\"https://static.tigerbbs.com/a348a366bc39d591cfb5fb19987fb1ac\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><b>UK house prices fell more than expected as soaring mortgage rates dampened demand.</b></p><p>UK mortgage lender Nationwide Building Society said that after soaring borrowing costs dampened demand, UK house prices fell more than expected, and at the fastest rate since the outbreak of the COVID-19 pandemic.</p><p>UK house prices fell 1.4% in November, the agency said. This is the second decline in months and the largest drop since June 2020. Excluding the pandemic, UK house prices have not fallen so sharply since the global financial crisis more than a decade ago. Economists had previously expected a 0.4% decline.</p><p>Home loan costs have soared to more than 6% in recent weeks from around 1% a year ago, influenced by the Bank of England's increase in benchmark lending rates and investor concerns about slowing economic growth and rising government debt. Although borrowers' costs have fallen from their peak, they may still be much higher than buyers' levels for most of the past decade.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2022-12-02/doc-imqmmthc6739501.shtml\">环球市场播报</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5b26f4dcea8cd92793b55e49bafa9f8d","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","SDS":"两倍做空标普500 ETF-ProShares","OEX":"标普100","SSO":"2倍做多标普500ETF-ProShares","DJX":"1/100道琼斯","SH":"做空标普500-Proshares","IVV":"标普500ETF-iShares","PSQ":"做空纳斯达克100指数ETF-ProShares","BK4581":"高盛持仓","QLD":"2倍做多纳斯达克100指数ETF-ProShares","TQQQ":"纳指三倍做多ETF",".DJI":"道琼斯","BK4534":"瑞士信贷持仓","QID":"两倍做空纳斯达克指数ETF-ProShares","OEF":"标普100指数ETF-iShares",".IXIC":"NASDAQ Composite","SQQQ":"纳指三倍做空ETF","SPXU":"三倍做空标普500ETF-ProShares","UPRO":"三倍做多标普500ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares",".SPX":"S&P 500 Index","DXD":"两倍做空道琼30指数ETF-ProShares","SPY":"标普500ETF","DDM":"2倍做多道指ETF-ProShares","DOG":"道指ETF-ProShares做空","QQQ":"纳指100ETF","SDOW":"三倍做空道指30ETF-ProShares","BK4559":"巴菲特持仓","BK4504":"桥水持仓","BK4550":"红杉资本持仓"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2022-12-02/doc-imqmmthc6739501.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2288839109","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：　　 1、美国核心PCE远超美联储2%目标 软着陆的希望仍然渺茫       2、美国持续申领失业救济人数升至2月份以来最高 重新就业难度加大       3、美国10月份储蓄率降至2005年以来最低水平 持续通胀和联储加息双重打击       4、芝加哥联储任命美国前奥巴马政府顾问古尔斯比为新行长　　 5、瑞信股价创史上最长连跌纪录 今年以来已下跌66%　　 6、英国房价降幅超出预期 按揭贷款利率飙升抑制需求美国核心PCE远超美联储2%目标 软着陆的希望仍然渺茫10月美国一项基准通胀指标——核心PCE同比上涨5%，同比升幅6%，仍远高于美联储2%的目标，美联储通胀降温但经济不衰退的希望仍然渺茫。美国商务部周四公布的数据显示，10月不包括食品和能源的个人消费支出价格指数（PCE）较10月增长0.2%，升幅低于预期。美联储主席鲍威尔本周强调，核心PCE是他认为更能准确反映通胀走向的指标。核心PCE同比上涨5%，9月升幅上修至5.2%。整体PCE连续第三个月环比上升0.3%，同比升幅6%，仍远高于美联储2%的目标。美国持续申领失业救济人数升至2月份以来最高 重新就业难度加大美国持续申领失业救济的人数升至2月份以来的最高水平，表明失业的美国人在逐渐降温的劳动力市场上找到新工作的难度加大。在截至11月19日当周，美国持续申领失业救济人数增加5.7万人，至160万人，为一年来最大增幅。美国劳工部周四的数据显示，在截至11月26日当周，首次申领失业救济人数减少1.6万人，至22.5万人。接受彭博调查的经济学家的预估中值为23.5万人。美国10月份储蓄率降至2005年以来最低水平 持续通胀和联储加息双重打击美国人储蓄率创2005年以来最低水平，凸显出通胀和借贷成本上升正在削弱家庭的财务缓冲能力。美国商务部周四发布的数据显示，10月份个人储蓄占可支配收入之比降至2.3%。报告还显示，尽管通胀略有降温，但经通胀调整的支出仍然强劲。在持续通胀和美联储加息的双重打击下，美国消费支出很难下降。最具代表性的是，信用卡消费增多，第三季度美国居民债务的同比升幅达到2008年以来最高。芝加哥联储任命美国前奥巴马政府顾问古尔斯比为新行长芝加哥联储任命曾为前总统奥巴马担任顾问的经济学家奥斯坦·古尔斯比（Austan Goolsbee）为新行长，现行长埃文斯将于明年1月退休。芝加哥联储周四在一份电邮声明中表示，现年53岁的古尔斯比将于1月9日履任，他目前是芝加哥大学布斯商学院经济学教授。古尔斯比曾经是美国经济顾问委员会主席，并且是美国总统奥巴马内阁中最年轻的内阁成员。埃文斯执掌芝加哥联储15年，在任内的大部分时间里，他一直是美联储最鸽派的决策者之一。瑞信股价创史上最长连跌纪录 今年以来已下跌66%瑞信集团股价连续第13天走低，创出有史以来最长连跌纪录，这家瑞士银行深陷困境，在持续多年的丑闻和管理不善后，资本募集计划对其股价构成进一步的冲击。瑞信周四收盘下跌6.1%，至3.08美元的纪录新低。11月23日以来，股价下跌了大约21%，当时该行称，其关键性的理财业务遭遇大量资金外流，并称第四季度可能会再次蒙受重大亏损，达到15亿瑞郎（16亿美元）。英国房价降幅超出预期 按揭贷款利率飙升抑制需求英国按揭贷款机构Nationwide Building Society表示，在借贷成本飙升抑制需求之后，英国房价跌幅超过预期，而且是新冠疫情爆发以来的最快跌速。该机构称，英国11月房价下跌1.4%。这是数月来的第二次下跌，也是2020年6月以来的最大跌幅。不包括疫情时期，英国房价自10多年前全球金融危机以来从未出现过如此大幅的下跌。经济学家此前预期为下滑0.4%。受英国央行上调基准贷款利率以及投资者对经济增长放缓和政府债务上升的担忧影响，住房贷款成本最近几周从一年前的约1%飙升至6%以上。虽然借款人的成本已较峰值回落，但仍可能远高于买家过去十年大部分时间内的水平。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"SDS":0.6,".SPX":0.6,"DJX":0.6,"OEX":0.6,"IVV":0.6,"SPY":0.9,"MNQmain":0.6,"ESmain":0.6,"DXD":0.6,"DDM":0.6,"OEF":0.6,"SH":0.6,".DJI":0.9,"SPXU":0.6,"UPRO":0.6,".IXIC":0.9,"PSQ":0.6,"SSO":0.6,"DOG":0.6,"NQmain":0.6,"QQQ":0.6,"UDOW":0.6,"QID":0.6,"QLD":0.6,"SDOW":0.6,"SQQQ":0.6,"TQQQ":0.6}},"isVote":1,"tweetType":1,"viewCount":5185,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9963772495,"gmtCreate":1668775578718,"gmtModify":1676538111904,"author":{"id":"4090574021972690","authorId":"4090574021972690","name":"富川","avatar":"https://community-static.tradeup.com/news/07ec540f55a9536b728e59a537869d3e","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4090574021972690","idStr":"4090574021972690"},"themes":[],"title":"","htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9963772495","repostId":"2284728958","repostType":4,"repost":{"id":"2284728958","kind":"highlight","weMediaInfo":{"introduction":"创业与投资专业门户","home_visible":1,"media_name":"投资界","id":"1096839439","head_image":"https://static.tigerbbs.com/2531123ee54a22588d693ba65ab705b3"},"pubTimestamp":1668766250,"share":"https://ttm.financial/m/news/2284728958?lang=en_US&edition=fundamental","pubTime":"2022-11-18 18:10","market":"other","language":"zh","title":"Masayoshi Son announces his farewell","url":"https://stock-news.laohu8.com/highlight/detail?id=2284728958","media":"投资界","summary":"“这将是我最后一次在财务业绩会上发言。”在最新软银集团财季报告的舞台上，孙正义郑重宣布以后不再出席软银的财报会议，并将集团的日常管理工作移交给CFO后藤芳光（Yoshimitsu Goto）等高管。这","content":"<p><html><head></head><body>“<b>This will be the last time I speak at the financial results conference.</b>。”</p><p>On the stage of SoftBank Group's latest quarterly financial report, Masayoshi Son solemnly announced that he would no longer attend SoftBank's earnings conferences and would hand over the group's daily management to CFO Yoshimitsu Goto and other executives. This is the first time he has taken the helm of SoftBank in its history.</p><p>Masayoshi Son's aggressive investment style left LPs with mixed feelings, prompting him to turn around.<b>Devote yourself wholeheartedly to the chip company ARM</b>。 This time, it can be said that this investment maniac is taking the first step towards retirement.</p><p><img src=\"https://static.tigerbbs.com/c69620816bf719ccb798938c41983bac\" tg-width=\"1080\" tg-height=\"485\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Masayoshi Son is undoubtedly one of the most talked-about legendary figures in venture capital history. Born in 1957 in a small village in Japan, after witnessing several family upheavals, the young Masayoshi Son vowed to \"make a great career and become Japan's number one entrepreneur,\" and at the age of 19, he set a life plan for himself for the next 50 years.</p><p>Start a business at 20, earn a billion dollars at 30, become number one at 40, earn tens of billions of dollars at 50, and retire at 60.</p><p>As Masayoshi Son wished, the first half of his life was epic because he founded SoftBank and created a vast capital empire, especially more than 20 years ago.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The \"6-minute investment\" system has been able to save SoftBank from its predicament to this day. What failed to materialize was that Masayoshi Son has not yet been able to fully retire. This year's situation has been more difficult than he imagined. After half his life of ups and downs, the 65-year-old seems to have already begun to consider retiring.</p><p><b>Masayoshi Son's last earnings call:</b></p><p><b>SoftBank finally broke even after selling Alibaba.</b></p><p>This is the last time we will see Masayoshi Son in this form.</p><p>On November 11, SoftBank Group released its first-half fiscal year (March 49) report. In summary, SoftBank reported net sales of 3.2 trillion yen, investment losses of 849.6 billion yen (approximately 43 billion yuan), and a net loss of 129.1 billion yen in the first half of fiscal year 2022, resulting in a loss of approximately 6.6 billion yuan.</p><p>You read that right, it is indeed 6.6 billion. This small sum is insignificant compared to the huge SoftBank, and we will explain the reasons in detail later.</p><p><img src=\"https://static.tigerbbs.com/e17a9afbf5120644e228405e9567be93\" tg-width=\"719\" tg-height=\"519\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>The culprit behind SoftBank's losses remains the sharp decline in the stock prices/valuations of the portfolios of Vision Funds SVF1, SVF2, and LatAm Funds, including US food delivery company Doordash, Southeast Asian ride-hailing company GoTo, South Korean version of \"Alibaba\" Coupang, Beike Zhaofang, Wework, SenseTime, and others.</p><p>\"Judging from the current situation, almost all of our investments, whether in the primary or secondary markets, have not performed well,\" Masayoshi Son stated frankly at the latest earnings call.<b>Both listed and unlisted stocks were nearly completely wiped out, and the Vision Fund was also clearly hit.</b>”。 In July and September alone, SoftBank's Vision Fund suffered investment losses of nearly $10 billion, and for the entire first half of the fiscal year, it caused investment losses of 4.4 trillion yen, equivalent to approximately 220 billion yuan.</p><p>However, the huge hole created by SoftBank's Vision Fund was filled by Alibaba. Breaking it down, in the first fiscal quarter (April), SoftBank recorded a net loss of 3.16 trillion yen (approximately 160 billion yuan), the largest loss in recent years; However, in the second fiscal quarter of 1979, the company reversed course and achieved a net profit of 3.03 trillion yen (approximately 153 billion yuan).</p><p><img src=\"https://static.tigerbbs.com/4acb011a2d43a79547802b2a5a856dc0\" tg-width=\"809\" tg-height=\"453\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>This marks SoftBank's first profit in three quarters. \"The main source of the huge profits is Alibaba, and we used Alibaba shares to sign prepaid forward contracts,\" SoftBank Group CFO Yoshimitsu Goto revealed at the earnings call. Financial reports show that in August 2022, SoftBank implemented early physical settlement of 242 million Alibaba shares corresponding to prepaid forward contracts, thereby recovering more than 270 billion yuan.</p><p>With this, Alibaba's share of SoftBank's assets has decreased to 14.6%, but its size remains considerable. One can't help but marvel that an investment that was made in just six minutes of meeting more than 20 years ago would bring such unimaginable returns to Masayoshi Son and SoftBank in the future.</p><p>The ongoing volatility in technology stocks has forced SoftBank to contract across the board and is further reducing its investments. For example, SVF1's total investment in the same period last fiscal year was RMB 17.8 billion, but this year it is only RMB 1.8 billion. This scene was even more dramatic in the second phase of the Vision Fund. During the second phase, a total of RMB 16 billion was invested, compared to RMB 139.5 billion in the same period of the previous fiscal year, which can be described as a \"knee-deep drop\".</p><p>These are difficult times for global private equity investment. To effectively alleviate the situation, Yoshimitsu Goto stated that SoftBank's Vision Fund will lay off 30% of its employees. However, this \"explosive\" news did not cause much of a stir; perhaps everyone has become accustomed to this situation this year.</p><p><b>Masayoshi Son bids farewell to investing and joins ARM.</b></p><p>Standing on the stage of the final earnings release conference, Masayoshi Son appeared somewhat emotional, telling almost everyone his story with ARM. He regarded this as the starting point of his life.</p><p><img src=\"https://static.tigerbbs.com/4eb36042ebfa27bac1c8ca3caf6f6d59\" tg-width=\"1080\" tg-height=\"499\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It was the fall of 1976. 19-year-old Masayoshi Son was studying in the United States. One day, while reading a science magazine on the sidewalk, he accidentally saw a \"mysterious photo of a future city that looked like a geometric pattern\" on a microcomputer chip. Turning to the next page, he was deeply shocked to find that it was a microcomputer chip the size of a fingertip and less than 1 centimeter in diameter.</p><p>“I know what a computer is, and I know what a computer program is, but I didn’t know that all of these things came from such small parts.” After reading the magazine, Masayoshi Son couldn’t help but cry. He felt that for the first time he had discovered something that might surpass human intellectual activity. Looking back on those days, he said, \"I was very moved because humans are probably the smartest people on Earth, and they have created things that surpass human intelligence.\"</p><p>Forty-five years have passed since that day, but microcomputers are far from mature and are still developing explosively. Masayoshi Son observed that in the long river of human history spanning tens or hundreds of thousands of years, the information revolution has spread rapidly in just 50 years, and we have now reached a point where we cannot do without smartphones.</p><p>“At the same time, the core of the CPU has shifted from Intel to ARM, and ARM’s position as the most efficient architecture will become increasingly solidified. That’s how I understand it,” he judged. “As everything is being digitized, ARM’s stage will be even bigger.”</p><p>Recalling the first time he saw that photo of the microcomputer chip, Masayoshi Son decided to dedicate his life to the information revolution. Now, he will return to that \"starting point,\" which is also his future direction.</p><p>“<b>Over the next few years, I want to focus on ARM's next phase of explosive growth.</b>。” At the start of the press conference, Masayoshi Son said, \"This makes me excited and happy. ARM and its related businesses will be SoftBank's biggest growth driver in the future.\"</p><p>Speaking of ARM, this is another big gamble in Masayoshi Son's investment history. In 2016, SoftBank Group, led by Masayoshi Son, acquired British chip giant ARM for $31 billion in cash. In order to acquire ARM and raise funds for the acquisition, SoftBank sold off several high-quality assets, including Alibaba, and even borrowed heavily at great expense. Such a large-scale move shook the entire chip industry, and Masayoshi Son once again demonstrated his adventurous spirit, sending chills down his spine at his peers. He was dubbed a \"desperate gamble\" by the outside world.</p><p>ARM was originally a trump card in Masayoshi Son's hands. When SoftBank was mired in trouble, he once hoped to sell it for $60 billion. Earlier this year,<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>The original plan was to acquire ARM for $40 billion, but the largest deal in the history of the chip industry fell through because regulators failed to approve it.</p><p>Subsequently, SoftBank began preparations for ARM's independent IPO, but it remains unclear where the IPO will take place. During the earnings call, Ian Thornton, IR at SoftBank and Vice President of ARM, revealed, \"We hope ARM will go public as soon as possible, but given the current uncertainty in the global economy, ARM's IPO is unlikely to happen before the end of March 2023. Preparations are progressing smoothly, and the IPO may take place sometime in 2023.\"</p><p>“<b>From the beginning, if SoftBank hadn't been in crisis, ARM would have been the last asset we wanted to sell.</b>。 Especially recently, I've realized once again how great ARM is, and its future growth opportunities are enormous. Over the past few months, Masayoshi Son has been thinking repeatedly, \"How can we make the best use of ARM, and what kind of interesting services and technologies can we create? Thinking about all of this, I have no doubt about these great technological innovations.\"</p><p><b>With the world gone, a generation of investment madmen let go.</b></p><p>This year should be the most intense year for Masayoshi Son in his ideological struggle.</p><p>The world is currently fraught with risks, and venture capital firms around the world are experiencing varying degrees of tension. In this situation, Masayoshi Son is constantly thinking about where SoftBank should go. Should the Vision Fund continue investing? Or should we reduce debt and lower the debt ratio, and have more cash to drive business more safely?</p><p>\"We had several heated discussions internally, and later I came to my senses,\" Masayoshi Son said at the earnings call. \"The conclusion is that we will not see inflation subside during this period.\"<b>SoftBank must be on the defensive and stay that way</b>。”</p><p>I still remember the boy Masayoshi Son who was so inspired that he shed tears when he read about Ryoma Sakamoto, who \"broke away\" in pursuit of his dream in the historical work \"Ryoma is Coming\". \"You're not a mediocre person buried in the grasslands. Go out and make a name for yourself. As long as you think it's right, do it resolutely.\"</p><p>Later, this scene always appeared in his mind and became the source of spiritual motivation for many of his difficult decisions. \"At first, all I had were dreams and unfounded confidence, but it all started here,\" Masayoshi Son once said.</p><p>To some extent, this also contributed to Masayoshi Son's astonishingly aggressive investment style. Over the years, the strategies of SoftBank and Vision Fund under his leadership in the primary market have been impressive. They change the rules of the game with cash, are willing to give high valuations, dare to give high valuations, and invest in their competitors if the target is not allowed to invest. No one can match them.</p><p>During this period, Masayoshi Son seemed to have only given himself two paths: either make a lot of money or lose money, and he spent his time and energy on blockbuster projects. This strategy also helped Masayoshi Son attract almost every super unicorn in the world, leaving him furious. However, looking at its investment history, in addition to<a href=\"https://laohu8.com/S/YHOO\">Yahoo</a>Aside from his battle with Alibaba that made him a legend, most of his projects brought him a series of troubles and losses, such as...<a href=\"https://laohu8.com/S/WE\">WeWork</a>OYO, Uber... and countless unicorns that collapsed after building skyscrapers.</p><p>After a series of magical events, SoftBank began to reflect on its actions and decided to refrain from investing for a long time.<b>Masayoshi Son, 65, also made a change, breaking with decades of convention.</b>He bid farewell to the SoftBank earnings report stage, which he had always led, and kept a low profile.</p><p>In previous years, Masayoshi Son would discuss his unconventional investment philosophy through earnings reports. The outside world could also get a glimpse of this venture capitalist maniac’s investment attitude from the historical paintings or abstract pictures he released. Masayoshi Son also expressed his desire for capital and his expectations on how technology can improve human happiness on this stage more than once, sometimes absurd, sometimes full of poetry.</p><p>However, he will no longer host earnings releases in this format, and will only make brief comments. He has handed over these daily tasks to several other deputies, including Yoshimitsu Goto. \"Goto is better suited to defense than I am,\" Masayoshi Son said at his final earnings call.<b>I am a combative person, not a defensive one.</b>。”</p><p>Perhaps worried that the outside world would focus too much on his retirement, Masayoshi Son added,<b>I am in good health and full of energy.</b>He stated, \"I will continue to attend the shareholders' meeting, and I will return at any time if anything unpredictable happens.\"</p><p>In the torrent, the mythical years of this venture capital empire began to fade away, and the eccentric, radical, and adventurous investment maniac gradually disappeared from the spotlight. Times have truly changed.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Masayoshi Son announces his farewell</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: 12.5px; color: #7E829C; margin: 0;}\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\">\nMasayoshi Son announces his farewell\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1096839439\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/2531123ee54a22588d693ba65ab705b3);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">投资界 </p>\n<p class=\"h-time smaller\">2022-11-18 18:10</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>“<b>This will be the last time I speak at the financial results conference.</b>。”</p><p>On the stage of SoftBank Group's latest quarterly financial report, Masayoshi Son solemnly announced that he would no longer attend SoftBank's earnings conferences and would hand over the group's daily management to CFO Yoshimitsu Goto and other executives. This is the first time he has taken the helm of SoftBank in its history.</p><p>Masayoshi Son's aggressive investment style left LPs with mixed feelings, prompting him to turn around.<b>Devote yourself wholeheartedly to the chip company ARM</b>。 This time, it can be said that this investment maniac is taking the first step towards retirement.</p><p><img src=\"https://static.tigerbbs.com/c69620816bf719ccb798938c41983bac\" tg-width=\"1080\" tg-height=\"485\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Masayoshi Son is undoubtedly one of the most talked-about legendary figures in venture capital history. Born in 1957 in a small village in Japan, after witnessing several family upheavals, the young Masayoshi Son vowed to \"make a great career and become Japan's number one entrepreneur,\" and at the age of 19, he set a life plan for himself for the next 50 years.</p><p>Start a business at 20, earn a billion dollars at 30, become number one at 40, earn tens of billions of dollars at 50, and retire at 60.</p><p>As Masayoshi Son wished, the first half of his life was epic because he founded SoftBank and created a vast capital empire, especially more than 20 years ago.<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The \"6-minute investment\" system has been able to save SoftBank from its predicament to this day. What failed to materialize was that Masayoshi Son has not yet been able to fully retire. This year's situation has been more difficult than he imagined. After half his life of ups and downs, the 65-year-old seems to have already begun to consider retiring.</p><p><b>Masayoshi Son's last earnings call:</b></p><p><b>SoftBank finally broke even after selling Alibaba.</b></p><p>This is the last time we will see Masayoshi Son in this form.</p><p>On November 11, SoftBank Group released its first-half fiscal year (March 49) report. In summary, SoftBank reported net sales of 3.2 trillion yen, investment losses of 849.6 billion yen (approximately 43 billion yuan), and a net loss of 129.1 billion yen in the first half of fiscal year 2022, resulting in a loss of approximately 6.6 billion yuan.</p><p>You read that right, it is indeed 6.6 billion. This small sum is insignificant compared to the huge SoftBank, and we will explain the reasons in detail later.</p><p><img src=\"https://static.tigerbbs.com/e17a9afbf5120644e228405e9567be93\" tg-width=\"719\" tg-height=\"519\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>The culprit behind SoftBank's losses remains the sharp decline in the stock prices/valuations of the portfolios of Vision Funds SVF1, SVF2, and LatAm Funds, including US food delivery company Doordash, Southeast Asian ride-hailing company GoTo, South Korean version of \"Alibaba\" Coupang, Beike Zhaofang, Wework, SenseTime, and others.</p><p>\"Judging from the current situation, almost all of our investments, whether in the primary or secondary markets, have not performed well,\" Masayoshi Son stated frankly at the latest earnings call.<b>Both listed and unlisted stocks were nearly completely wiped out, and the Vision Fund was also clearly hit.</b>”。 In July and September alone, SoftBank's Vision Fund suffered investment losses of nearly $10 billion, and for the entire first half of the fiscal year, it caused investment losses of 4.4 trillion yen, equivalent to approximately 220 billion yuan.</p><p>However, the huge hole created by SoftBank's Vision Fund was filled by Alibaba. Breaking it down, in the first fiscal quarter (April), SoftBank recorded a net loss of 3.16 trillion yen (approximately 160 billion yuan), the largest loss in recent years; However, in the second fiscal quarter of 1979, the company reversed course and achieved a net profit of 3.03 trillion yen (approximately 153 billion yuan).</p><p><img src=\"https://static.tigerbbs.com/4acb011a2d43a79547802b2a5a856dc0\" tg-width=\"809\" tg-height=\"453\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>This marks SoftBank's first profit in three quarters. \"The main source of the huge profits is Alibaba, and we used Alibaba shares to sign prepaid forward contracts,\" SoftBank Group CFO Yoshimitsu Goto revealed at the earnings call. Financial reports show that in August 2022, SoftBank implemented early physical settlement of 242 million Alibaba shares corresponding to prepaid forward contracts, thereby recovering more than 270 billion yuan.</p><p>With this, Alibaba's share of SoftBank's assets has decreased to 14.6%, but its size remains considerable. One can't help but marvel that an investment that was made in just six minutes of meeting more than 20 years ago would bring such unimaginable returns to Masayoshi Son and SoftBank in the future.</p><p>The ongoing volatility in technology stocks has forced SoftBank to contract across the board and is further reducing its investments. For example, SVF1's total investment in the same period last fiscal year was RMB 17.8 billion, but this year it is only RMB 1.8 billion. This scene was even more dramatic in the second phase of the Vision Fund. During the second phase, a total of RMB 16 billion was invested, compared to RMB 139.5 billion in the same period of the previous fiscal year, which can be described as a \"knee-deep drop\".</p><p>These are difficult times for global private equity investment. To effectively alleviate the situation, Yoshimitsu Goto stated that SoftBank's Vision Fund will lay off 30% of its employees. However, this \"explosive\" news did not cause much of a stir; perhaps everyone has become accustomed to this situation this year.</p><p><b>Masayoshi Son bids farewell to investing and joins ARM.</b></p><p>Standing on the stage of the final earnings release conference, Masayoshi Son appeared somewhat emotional, telling almost everyone his story with ARM. He regarded this as the starting point of his life.</p><p><img src=\"https://static.tigerbbs.com/4eb36042ebfa27bac1c8ca3caf6f6d59\" tg-width=\"1080\" tg-height=\"499\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It was the fall of 1976. 19-year-old Masayoshi Son was studying in the United States. One day, while reading a science magazine on the sidewalk, he accidentally saw a \"mysterious photo of a future city that looked like a geometric pattern\" on a microcomputer chip. Turning to the next page, he was deeply shocked to find that it was a microcomputer chip the size of a fingertip and less than 1 centimeter in diameter.</p><p>“I know what a computer is, and I know what a computer program is, but I didn’t know that all of these things came from such small parts.” After reading the magazine, Masayoshi Son couldn’t help but cry. He felt that for the first time he had discovered something that might surpass human intellectual activity. Looking back on those days, he said, \"I was very moved because humans are probably the smartest people on Earth, and they have created things that surpass human intelligence.\"</p><p>Forty-five years have passed since that day, but microcomputers are far from mature and are still developing explosively. Masayoshi Son observed that in the long river of human history spanning tens or hundreds of thousands of years, the information revolution has spread rapidly in just 50 years, and we have now reached a point where we cannot do without smartphones.</p><p>“At the same time, the core of the CPU has shifted from Intel to ARM, and ARM’s position as the most efficient architecture will become increasingly solidified. That’s how I understand it,” he judged. “As everything is being digitized, ARM’s stage will be even bigger.”</p><p>Recalling the first time he saw that photo of the microcomputer chip, Masayoshi Son decided to dedicate his life to the information revolution. Now, he will return to that \"starting point,\" which is also his future direction.</p><p>“<b>Over the next few years, I want to focus on ARM's next phase of explosive growth.</b>。” At the start of the press conference, Masayoshi Son said, \"This makes me excited and happy. ARM and its related businesses will be SoftBank's biggest growth driver in the future.\"</p><p>Speaking of ARM, this is another big gamble in Masayoshi Son's investment history. In 2016, SoftBank Group, led by Masayoshi Son, acquired British chip giant ARM for $31 billion in cash. In order to acquire ARM and raise funds for the acquisition, SoftBank sold off several high-quality assets, including Alibaba, and even borrowed heavily at great expense. Such a large-scale move shook the entire chip industry, and Masayoshi Son once again demonstrated his adventurous spirit, sending chills down his spine at his peers. He was dubbed a \"desperate gamble\" by the outside world.</p><p>ARM was originally a trump card in Masayoshi Son's hands. When SoftBank was mired in trouble, he once hoped to sell it for $60 billion. Earlier this year,<a href=\"https://laohu8.com/S/NVDA\">NVIDIA</a>The original plan was to acquire ARM for $40 billion, but the largest deal in the history of the chip industry fell through because regulators failed to approve it.</p><p>Subsequently, SoftBank began preparations for ARM's independent IPO, but it remains unclear where the IPO will take place. During the earnings call, Ian Thornton, IR at SoftBank and Vice President of ARM, revealed, \"We hope ARM will go public as soon as possible, but given the current uncertainty in the global economy, ARM's IPO is unlikely to happen before the end of March 2023. Preparations are progressing smoothly, and the IPO may take place sometime in 2023.\"</p><p>“<b>From the beginning, if SoftBank hadn't been in crisis, ARM would have been the last asset we wanted to sell.</b>。 Especially recently, I've realized once again how great ARM is, and its future growth opportunities are enormous. Over the past few months, Masayoshi Son has been thinking repeatedly, \"How can we make the best use of ARM, and what kind of interesting services and technologies can we create? Thinking about all of this, I have no doubt about these great technological innovations.\"</p><p><b>With the world gone, a generation of investment madmen let go.</b></p><p>This year should be the most intense year for Masayoshi Son in his ideological struggle.</p><p>The world is currently fraught with risks, and venture capital firms around the world are experiencing varying degrees of tension. In this situation, Masayoshi Son is constantly thinking about where SoftBank should go. Should the Vision Fund continue investing? Or should we reduce debt and lower the debt ratio, and have more cash to drive business more safely?</p><p>\"We had several heated discussions internally, and later I came to my senses,\" Masayoshi Son said at the earnings call. \"The conclusion is that we will not see inflation subside during this period.\"<b>SoftBank must be on the defensive and stay that way</b>。”</p><p>I still remember the boy Masayoshi Son who was so inspired that he shed tears when he read about Ryoma Sakamoto, who \"broke away\" in pursuit of his dream in the historical work \"Ryoma is Coming\". \"You're not a mediocre person buried in the grasslands. Go out and make a name for yourself. As long as you think it's right, do it resolutely.\"</p><p>Later, this scene always appeared in his mind and became the source of spiritual motivation for many of his difficult decisions. \"At first, all I had were dreams and unfounded confidence, but it all started here,\" Masayoshi Son once said.</p><p>To some extent, this also contributed to Masayoshi Son's astonishingly aggressive investment style. Over the years, the strategies of SoftBank and Vision Fund under his leadership in the primary market have been impressive. They change the rules of the game with cash, are willing to give high valuations, dare to give high valuations, and invest in their competitors if the target is not allowed to invest. No one can match them.</p><p>During this period, Masayoshi Son seemed to have only given himself two paths: either make a lot of money or lose money, and he spent his time and energy on blockbuster projects. This strategy also helped Masayoshi Son attract almost every super unicorn in the world, leaving him furious. However, looking at its investment history, in addition to<a href=\"https://laohu8.com/S/YHOO\">Yahoo</a>Aside from his battle with Alibaba that made him a legend, most of his projects brought him a series of troubles and losses, such as...<a href=\"https://laohu8.com/S/WE\">WeWork</a>OYO, Uber... and countless unicorns that collapsed after building skyscrapers.</p><p>After a series of magical events, SoftBank began to reflect on its actions and decided to refrain from investing for a long time.<b>Masayoshi Son, 65, also made a change, breaking with decades of convention.</b>He bid farewell to the SoftBank earnings report stage, which he had always led, and kept a low profile.</p><p>In previous years, Masayoshi Son would discuss his unconventional investment philosophy through earnings reports. The outside world could also get a glimpse of this venture capitalist maniac’s investment attitude from the historical paintings or abstract pictures he released. Masayoshi Son also expressed his desire for capital and his expectations on how technology can improve human happiness on this stage more than once, sometimes absurd, sometimes full of poetry.</p><p>However, he will no longer host earnings releases in this format, and will only make brief comments. He has handed over these daily tasks to several other deputies, including Yoshimitsu Goto. \"Goto is better suited to defense than I am,\" Masayoshi Son said at his final earnings call.<b>I am a combative person, not a defensive one.</b>。”</p><p>Perhaps worried that the outside world would focus too much on his retirement, Masayoshi Son added,<b>I am in good health and full of energy.</b>He stated, \"I will continue to attend the shareholders' meeting, and I will return at any time if anything unpredictable happens.\"</p><p>In the torrent, the mythical years of this venture capital empire began to fade away, and the eccentric, radical, and adventurous investment maniac gradually disappeared from the spotlight. Times have truly changed.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/acb77b88f0e1500dd735d82182c9d65c","relate_stocks":{"SFTBY":"软银集团"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2284728958","content_text":"“这将是我最后一次在财务业绩会上发言。”在最新软银集团财季报告的舞台上，孙正义郑重宣布以后不再出席软银的财报会议，并将集团的日常管理工作移交给CFO后藤芳光（Yoshimitsu Goto）等高管。这是他执掌软银历史以来的第一次。激进的投资风格让LP心情复杂，孙正义选择转身将全身心投入到芯片公司ARM中。这一次，可以说是这位投资狂人迈向退休的第一步。孙正义，无疑是风投史上最具话题的传奇人物之一。1957年出生于日本一个小村庄，在目睹了几次家庭变故后，年纪轻轻的孙正义发誓“闯出一番大事业，成为日本第一企业家”，并在19岁那年为自己定下未来50年的人生规划20岁开始创业，30岁赚够十亿美元，40岁成为第一，50岁赚到百亿美元，60岁退休。如孙正义所愿，他的前半生因创办软银缔造了一个庞大的资本帝国而荡气回肠，尤其是20多年前对阿里巴巴的“6分钟投资”，至今都能救软银于水火之中。未能如愿的是，孙正义至今尚未能完全退休。今年的情况比想象中更艰难，浮沉半生，65岁的他似乎已经萌生了退意。孙正义最后一次主持财报会：卖阿里，软银终于不亏了这是我们最后一次以这样的形式见到孙正义。11月11日，软银集团公布了上半财年（49月）报告。综合来说，软银在2022财年上半年收获了3.2万亿日元的净销售额、投资损失8496亿日元（约合人民币430亿元）以及1291亿日元的净亏损，亏了约合人民币66亿元。你没看错，确实是66亿，这笔小钱在庞大的软银面前可以说不值一提，原因我们后面细细说来。软银亏损的“罪魁祸首”依然是愿景基金SVF1、SVF2以及LatAm Funds三支基金中投资组合的股价/估值急剧下降，包括了美国外卖公司Doordash 、东南亚网约车公司 GoTo 、韩国版“阿里巴巴”Coupang、贝壳找房、Wework、商汤科技等等。“从目前的情况来看，无论是一级市场还是二级市场，我们所做的几乎所有投资都没有好的表现。”孙正义在最新财报会上直言，“上市股和未上市股接近全军覆没，愿景基金也明显受到打击”。仅在7-9月，软银愿景基金的投资亏损就已近100亿美元，而整个上半财年其共造成了4.4万亿日元的投资损失，约合人民币2200亿元。不过软银愿景基金所酿造的巨大窟窿，被阿里补上了。拆分来看，在第一财季（46月），软银录得净亏损3.16万亿日元（约合人民币1600亿元），创下近年亏损之最；79月的第二财季却逆转实现了净利润3.03万亿日元（约合人民币1530亿元）。这是软银三个季度以来首次盈利。“巨额收益的主要来源是阿里巴巴，我们使用阿里巴巴股份签署了预付远期合约。”软银集团CFO后藤芳光在财报会议上透露。财报显示，在2022 年89月，软银实施了预付远期合约对应2.42亿股阿里巴巴股票的提前实物结算，以此收回了超超2700亿元人民币。至此，阿里巴巴在软银资产中的占比下降至14.6%，体量依然不小。不禁令人感叹，没想到二十多年前那次只见面六分钟就拍板的一笔投资，日后给孙正义和软银带来的回报会如此超乎想象。眼下科技股震荡仍在进行中，这迫使软银全面收缩，正进一步减少投资。如SVF1上一财年同期投资总额还是178亿元人民币，但到了今年仅为18亿元人民币。这一幕在愿景基金二期上显得更为惨烈VF2期内共投资160亿元人民币，上一财年同期的数字是1395亿元人民币，堪称“膝盖斩”。这是全球私募股权投资的艰难时刻。为有效缓解局面，后藤芳光表示，软银愿景基金将裁员30%。然而，这样“爆炸性”的消息却没有激起太多水花，也许今年大家对这样的境况已经习以为常。告别投资，孙正义投身于ARM站在最后一场财报发布会舞台上，孙正义显得有些感性，几乎都在讲述他与ARM的故事。这被他视作人生的原点。那是1976年的秋天，19岁的孙正义正在美国留学深造，一天在人行道上看科学杂志时，他无意间看到一张微型计算机芯片的“看起来像几何图案的未来城市的神秘照片”。翻到下一页，他被深深地震撼住了竟然是一块指尖大小、直径不到1厘米的微电脑芯片。“我知道计算机是什么，也知道计算机程序是什么，但我却不知道这些都来自于这么小的零件。”看完那篇杂志，孙正义控制不住地哭泣，他觉得自己第一次发现了可能超越人类智力活动的东西。回顾那些日子，他说：“我很感动，因为人类可能是地球上最聪明的人，他们又创造了超过人类智慧的东西。”现在距离那天已经过去了45年，但微型计算机远未成熟，且还在大爆炸式发展。孙正义看到，在人类几万年、几十万年的历史长河中，信息革命在短短50年时间里迅速蔓延，我们现在已经到了离不开智能手机的境地。“与此同时，CPU的核心已经从Intel转移到了ARM，ARM拥有最高效架构的地位将越来越稳固。我就是这么理解的。”他判断，“当所有都在被数字化，ARM的舞台将会更大。”回想起第一次看到那张微电脑芯片的照片时，孙正义就决定把自己的一生奉献给信息革命。而现在，他将回到那个“原点”，也是他未来的方向“在接下来的几年里，我想致力于ARM下一阶段的爆炸性增长。”孙正义在发布会开场时表示，“这是让我感到兴奋和快乐的，ARM和与之相关的业务将会是软银未来最大的增长点。”说起ARM，这也是孙正义投资史上的又一次豪赌。2016年，孙正义掌舵的软银集团以310亿美元的价格现金收购了英国芯片巨头ARM。为了拿下ARM、筹集收购的资金，软银更是在当时抛售了包括阿里巴巴在内的多项优质资产，甚至还不惜代价地大举借债。如此大手笔，震动了整个芯片行业，孙正义再一次彰显了他的冒险精神，令同行不寒而栗，被外界称为一场“绝命豪赌”。ARM本是孙正义手上的一张王牌，在软银深陷泥潭时，一度希望以600亿美金出手卖掉。今年年初，英伟达原本计划以400亿美金收购ARM，但因监管机构均未能批准，这项芯片行业有史以来规模最大的交易落空。此后，软银启动了ARM独立IPO的准备工作，但截止目前在哪里IPO还尚不明朗。这次财报会议上，软银IR、ARM副总裁Ian Thornton透露，“我们希望ARM尽快上市，但鉴于当前全球经济的不确定性，ARM的IPO不太可能在2023年3月底之前发生。目前筹备工作进展顺利，或在2023年的某个时间进行IPO。”“从一开始，如果不是软银身处危机，ARM是我们最不想出售的资产。尤其是最近，我再次意识到ARM是多么伟大，它未来的成长机会是巨大的。”过去几个月，孙正义一直反复思考，“我们如何才能最佳地利用ARM，又能做出什么样的有趣的服务、有趣的技术？想想这一切，我对这些伟大的技术创新深信不疑。”江湖远去，一代投资狂人放手今年应该是孙正义做思想斗争最猛烈的一年。眼前的世界风险重重，全球的风投机构都在经历着不同程度的紧张局面。此情此景，孙正义也在不停歇地思考着软银该走向何处？愿景基金要不要再继续投资？又或者，是否应该减少债务并降低债务比率，拥有更多现金以更安全地推动业务？“我们内部进行了几次激烈的讨论，后来我自己也想通了。”在财报会上，孙正义说，“结论是，我们将无法在此期间看到通货膨胀的平息，软银必须处于防御模式，并一直保持这个方向。”犹记得那个在读到历史著作《龙马来了》中为了追求梦想而“脱藩”的坂本龙马时，备受鼓舞而落泪的少年孙正义。“你不是埋在草野里的庸才，出去闯荡做一番大事业吧，只要自己认为是对的，就毅然决然地去做。”日后，这个情节总是在他的脑海中显现，成为他诸多艰难决策的精神动力之源。“最初拥有的只是梦想和毫无根据的自信而已，但是所有的一切都从这里开始。”孙正义曾说。一定程度上，这也促就了孙正义令人咋舌的彪悍投资风格。多年来，他所执掌的软银和愿景基金在一级市场的打法令人印象深刻用现金改变游戏规则，肯给高估值，敢给高估值，标的不给投就投其对手的碾压式打法，无人能敌。这段时期里，孙正义仿佛只给自己两条路要么大赚，要么赔掉，把时间和精力花在爆款项目上。这样的打法也为孙正义收揽了全球几乎叫得上名号的超级独角兽，赌气十足。然而，纵观其投资历史，除了雅虎和阿里巴巴使其一战封神之外，他手中的绝大多数项目都给他带来了一系列麻烦和亏损，如WeWork、OYO、Uber......还有一个个起高楼后崩塌的独角兽们。魔幻的一幕幕后，软银开始反省并决定长期克制投资，65岁的孙正义也做出改变，他打破了其几十年来的惯例告别一直由他领导主持的软银收益报告舞台，保持低调。往年里，孙正义会通过财报活动来谈论其不拘一格的投资理念，外界也能从他所投放的历史画作或抽象图片中一窥这位风投狂人的投资态度，而孙正义也不止一次地在这个舞台上表达对资本的欲望，以及科技如何改善人类幸福的期盼，时而荒诞，时而又充满诗意。但此后，他将不再以这种形式主持财报发布会，仅可能会做一些简短点评，并将这些日常事务移交给了后藤芳光等其他几名副手。“后藤比我更适合防守，”孙正义在他最后一次财报发布会上说，“我是一个好斗的人，而不是防守的人。”也许担心外界过于聚焦他的退隐，孙正义还不忘补充一句，“我身体状况良好，健康且精力充沛”，并表示“我会继续在股东大会，当有不可预测的事情发生时，我会随时回来。”洪流之中，属于这家风投帝国的神话岁月开始远去，而那个古怪的、激进的、爱冒险的投资狂人也渐渐消失于聚光灯下时代真的变了。","news_type":1,"symbols_score_info":{"SFTBY":0.9}},"isVote":1,"tweetType":1,"viewCount":5505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9963186839,"gmtCreate":1668633734222,"gmtModify":1676538085948,"author":{"id":"4090574021972690","authorId":"4090574021972690","name":"富川","avatar":"https://community-static.tradeup.com/news/07ec540f55a9536b728e59a537869d3e","crmLevel":12,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4090574021972690","idStr":"4090574021972690"},"themes":[],"title":"","htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9963186839","repostId":"2284622784","repostType":2,"isVote":1,"tweetType":1,"viewCount":4819,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}