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klvnong

klvnong

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2021-03-24

Chinese firms risky

U.S. SEC begins roll-out of law aimed at delisting Chinese firms

2021-03-17

$AMC Entertainment(AMC)$ Patience is key! This is no penny stocks, this a big boy game

2021-04-07

Earning calls?

Apple and Microsoft Are Top Tech to Watch as Earnings Begin

2021-07-01

$Micron Technology(MU)$ How does MU drop when earnings are so well

2021-04-17

$Aurora Mobile Ltd(JG)$ These nights, I have been praying to hear bad news about the company. Maybe then.. the price will rise.

2021-04-06

Like my. Comment pls

Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time

2021-06-20

Comment and like pls

Sorry, the original content has been removed

2021-02-25

$AMC Entertainment(AMC)$ what did I say? The only way now is up!

2021-07-01

$Micron Technology(MU)$ How does MU drop when earnings are so well

2021-06-12

$Apple(AAPL)$ hold for the future gains

Go to Tiger App to see more news

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Inc.(CHPT)$don't stop now..","images":[{"img":"https://static.tigerbbs.com/38b1580e1dc51fa4c78cb7ccd216b26f","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/114420484","isVote":1,"tweetType":1,"viewCount":1154,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":115218253,"gmtCreate":1622998555972,"gmtModify":1704194205747,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/V\">$Visa(V)$</a>&nbsp;steady future&nbsp;","listText":"<a href=\"https://laohu8.com/S/V\">$Visa(V)$</a>&nbsp;steady future&nbsp;","text":"$Visa(V)$ steady future","images":[{"img":"https://static.tigerbbs.com/62b4517f5aae4e2bb8766640cc44a505","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/115218253","isVote":1,"tweetType":1,"viewCount":783,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":112287165,"gmtCreate":1622874652757,"gmtModify":1704192872617,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CHPT\">$ChargePoint Holdings Inc.(CHPT)$</a>&nbsp;charging up!&nbsp;","listText":"<a href=\"https://laohu8.com/S/CHPT\">$ChargePoint Holdings Inc.(CHPT)$</a>&nbsp;charging up!&nbsp;","text":"$ChargePoint Holdings Inc.(CHPT)$ charging up!","images":[{"img":"https://static.tigerbbs.com/daa499e3466c3332c26b49204a2ca605","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112287165","isVote":1,"tweetType":1,"viewCount":1195,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":116465063,"gmtCreate":1622815885352,"gmtModify":1704191792468,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CHPT\">$ChargePoint Holdings Inc.(CHPT)$</a>&nbsp;time to charge up the price...&nbsp;","listText":"<a href=\"https://laohu8.com/S/CHPT\">$ChargePoint Holdings Inc.(CHPT)$</a>&nbsp;time to charge up the price...&nbsp;","text":"$ChargePoint Holdings Inc.(CHPT)$ time to charge up the price...","images":[{"img":"https://static.tigerbbs.com/19dc31021cfaf5c6393ca1932a06a2d2","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116465063","isVote":1,"tweetType":1,"viewCount":1116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":111935420,"gmtCreate":1622648355660,"gmtModify":1704188105730,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>&nbsp;AMC's lil brother&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>&nbsp;AMC's lil brother&nbsp;","text":"$AMD(AMD)$ AMC's lil brother","images":[{"img":"https://static.tigerbbs.com/456a05aeaa7a86b97a0e1e99844d6130","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/111935420","isVote":1,"tweetType":1,"viewCount":849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":119832334,"gmtCreate":1622534926428,"gmtModify":1704185781227,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"Let's go...&nbsp;","listText":"Let's go...&nbsp;","text":"Let's go...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/119832334","repostId":"1112782785","repostType":4,"repost":{"id":"1112782785","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":1622534759,"share":"https://ttm.financial/m/news/1112782785?lang=en_US&edition=fundamental","pubTime":"2021-06-01 16:05","market":"us","language":"en","title":"Alibaba stock surged nearly 5% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1112782785","media":"Tiger Newspress","summary":"Alibaba stock surged nearly 5% in premarket trading after its shares closing up 3.4% in Hong Kong.Suspended Ant Group IPO, Jack Ma's disappearance, and regulatory concerns have forced Alibaba’s stock price ~-30% off highs.I believe Alibaba is trading at massive discounts on a relative basis.Future growth runways coupled with discounted buying opportunities could create a valuable investment opportunity.Currently, in a market full of elevated asset prices it can be difficult for investors to find","content":"<p>Alibaba stock surged&nbsp;nearly 5% in premarket trading&nbsp;after&nbsp;its shares closing up 3.4% in Hong Kong.</p><p><img src=\"https://static.tigerbbs.com/eb087d2067906ea07d1e9a1851fb2170\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/de6e1ea296db9382fbaf414201ee23d4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><ul><li>Suspended Ant Group IPO, Jack Ma's disappearance, and regulatory concerns have forced Alibaba’s stock price ~-30% off highs.</li><li>I believe Alibaba is trading at massive discounts on a relative basis.</li><li>Future growth runways coupled with discounted buying opportunities could create a valuable investment opportunity.</li></ul><p><img src=\"https://static.tigerbbs.com/76c35f5fb7c6d19825e9a4c876f7522c\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"></p><p><b>Intro</b></p><p>Currently, in a market full of elevated asset prices it can be difficult for investors to find underappreciated securities on a valuation basis. After months of negative headlines and regulatory issues, I believe Alibaba (BABA) is being underappreciated through the lens of both valuation and growth potential. While investors may be fearful of regulatory risks, management stability, and financial legitimacy, BABA’s growth runway coupled with discounted prices could potentially produce a valuable investment opportunity.</p><p><b>Why I Think it is Cheap</b></p><p>After Chinese regulators suspended the highly anticipated IPO of Ant Group due to issues surrounding changes in the financial regulatory environment and how the company was not meeting disclosure requirements, BABA’s share price began seeing initial selling pressure. BABA saw an -8.13% dip in share price after the IPO was delayed. Given that BABA has a&nbsp;33% equity interestin the company, the canceled listing of Ant Group caused obvious headwinds. Shortly after the canceled IPO, Jack Ma publicly denounced China’s financial regulators on stage at a conference in Shanghai. Adding to the mountain of negative headlines, the outspoken founder went missing shortly after this stint which was followed by a further decline in share price. Weeks after Ma’s criticisms regarding China’s regulators, China came crashing down hard on Alibaba with an antitrust investigation based on monopolistic concerns. BABA’s share price began to see deep selling pressure in late December with the U.S.-listed ADR falling over -13% on Christmas Eve.</p><p><img src=\"https://static.tigerbbs.com/67f6cf5346933ea265d9c4ba262c3880\" tg-width=\"624\" tg-height=\"356\" referrerpolicy=\"no-referrer\"></p><p>After a slew of negative press, financial and regulatory headwinds, BABA has fallen ~-30% from ATH where it currently sits just over $210 a share. With share price declining and earnings continuing to grow rapidly, Alibaba has seen valuation multiples contract to levels not seen since shortly after their NYSE listing in 2015.</p><p><b>How Cheap is it on a Relative Basis?</b></p><p>Using the next twelve months forward earnings estimates, \"NTM,\" we begin to quantify how discounted BABA is through valuation multiples. Below are two charts showing BABA at the very bottom of its EV/S and P/E channels. Each chart compares the NTM multiple relative to the earnings denominator (NTM Revs &amp; NTM EPS respectively).</p><p><img src=\"https://static.tigerbbs.com/9e4fecfcf6207a0c65a113e167696067\" tg-width=\"624\" tg-height=\"355\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1b0ea99d299e7aaa2a5c793434e2c05d\" tg-width=\"624\" tg-height=\"360\" referrerpolicy=\"no-referrer\"></p><p>Since BABA listed on the NYSE, their EV/S multiple has contracted over time as revenue growth has progressed rapidly; P/E typically has traded in a range of 20x – 35x NTM EPS estimates. Due to hyper EPS growth in the last few years, coupled with the short-term price downturn; Alibaba’s NTM P/E multiple has contracted to the very bottom of its historical channel (~20x NTM P/E).</p><p>Next, I used NTM forecasts for both revenue and EPS, coupled with bull, bear, and base case NTM multiples to derive my case-specific price targets. Price targets using EPS and P/E were calculated by multiplying expected NTM EPS by expected NTM P/E. Price targets using revenue and EV/S were calculated by multiplying expected NTM rev by expected NTM EV/S, subtracting trailing twelve months \"TTM\" net debt (-$52,797.3M) and dividing by TTM diluted shares outstanding (2,750M).</p><p><img src=\"https://static.tigerbbs.com/a262edad6a9272298ad31bdc8f3e1fc5\" tg-width=\"906\" tg-height=\"666\" referrerpolicy=\"no-referrer\"></p><p>After taking the median bull and bear price targets, I created a tactical risk/reward chart to determine BABA’s margin of safety at current price levels. I used the median to calculate official price targets to gain exposure from both BABA's top and bottom-line.</p><p><img src=\"https://static.tigerbbs.com/d61c7cd16fc768cc10b8ae344427eae5\" tg-width=\"682\" tg-height=\"671\" referrerpolicy=\"no-referrer\"></p><p>Given a market price of $213, BABA implies a 10.3x risk/reward level based on my forecasts. After comparing my multiple expectations to competitors, there is the risk of further contraction in EV/S over time but BABA appears very discounted relative to competition on a P/E basis.</p><p><img src=\"https://static.tigerbbs.com/8de1a38e8f053d82c2884626320b2069\" tg-width=\"907\" tg-height=\"633\" referrerpolicy=\"no-referrer\"></p><p>Next, I wanted to measure BABA’s discounted valuation relative to TTM revenue growth. To do this I created a scatter plot, charting P/S on a TTM basis on the y-axis and TTM revenue growth YoY on the x-axis. Points charted under the dashed line are deemed undervalued and any points above the line are deemed overvalued.</p><p><img src=\"https://static.tigerbbs.com/6fee6fd697b605d498925cc094b39ff5\" tg-width=\"624\" tg-height=\"370\" referrerpolicy=\"no-referrer\"></p><p>Based on TTM revenue growth through Q1 ’21, it’s clear to see the major discount BABA also has adjusted for top-line growth. Lastly, I wanted to throw in a price action chart with a long-term trendline pointing to BABA’s discounted price factor:</p><p><img src=\"https://static.tigerbbs.com/2e3c649795d1e8b6e297b436a9ee32b8\" tg-width=\"624\" tg-height=\"354\" referrerpolicy=\"no-referrer\"></p><p><b>Growth Runway</b></p><p>To capture excellent investment gains, valuation is not enough, Alibaba will have to continue executing its growth strategy. While the stock seems to be cheap on a relative basis, I also believe growth on the top and bottom lines is imminent.</p><p></p><p><img src=\"https://static.tigerbbs.com/8af3a56b016bed164ca19ff7282a581a\" tg-width=\"284\" tg-height=\"337\" referrerpolicy=\"no-referrer\"></p><p>After their Q1 release, BABA reported 41% YoY growth on the top-line driven by their leading core commerce segment alongside the fast-growing cloud segment. Coming off 35% YoY growth in 2020, being able to deliver a 41% topline increase is incredible for the year following. Given the fact COVID-19related online growth was reflected in early 2020 results, I find it very feasiblefor core commerce tailwinds to continue as growth persisted, and expanded, the following year.</p><p>Alongside general e-commerce tailwinds, China’s middle-class growth could support sales for a mega-cap commerce player like Alibaba. “China already makes up the&nbsp;largest middle-class consumption&nbsp;market segment in the world” asChinese middle-class consumers were on track to spend over $7.3 Trillion in 2020, roughly 55% higher than the United States middle-class at $4.7 Trillion. At current levels, less than one-third of China’s total population lies within their middle-class, containing roughly 400 million people. Population expectations for the Chinese middle-class are expected to be 1.2 Billion people in 2027, a 17% CAGR. Coupling the sheer class population growth with a forecasted income CAGR of 3% stacked on top, BABA is potentially looking at a 20% built-in core commerce CAGR over the next 7 years based on these estimates.</p><p>Lastly, I believe the digital transformation acceleration happening around the globewill be an excellent growth catalyst for the company moving forward. Like Amazon, Alibaba constructed its cloud base on logistical support for the commerce/delivery giant. Now that the infrastructure is built, they can grow the cloud as an operating segment, separate from core commerce, and outsource to major customers.</p><p>Below you can see previous YoY growth on three months ended and annual basis.</p><p><img src=\"https://static.tigerbbs.com/d2844a5c25507131d3bb1acc5e223c71\" tg-width=\"624\" tg-height=\"273\" referrerpolicy=\"no-referrer\"></p><p>While Alibaba Cloud only makes up 8% of total revenues, in the future I believe this segment will be a larger contributor to the total top-line as domestic and international adoption grows. Couple the cloud with core commerce expansion propelled forward by a rapidly increasing middle-class and BABA's growth runway is seemingly attractive for short and long-term investors.</p><p><img src=\"https://static.tigerbbs.com/253a50e7e7e1960b19d0ca68e2fd0360\" tg-width=\"624\" tg-height=\"462\" referrerpolicy=\"no-referrer\"></p><p><b>Risks</b></p><p>The reason this opportunity exists isn't because of a systematic drawdown or a major global catalyst suppressing stock prices, there are clear idiosyncratic risks to investing in Alibaba. The major risks of a BABA investment were highlighted clearly over the past 7 months. Starting with the Ant IPO suspension, BABA investors became concerned not just with the fin-tech company exposure, but also began questioning the financial legitimacy of BABA itself. To make things worse, the outspoken billionaire founder denounced the Chinese regulators in a very public fashion. Obviously, China didn't like this and launched the full-fledged antitrust investigation into Alibaba. The regulatory risk is my biggest concern while investing in BABA. At the end of the day, I've only ever lived in the United States and am no expert on Chinese foreign policy. I want to make clear these regulatory risks are very real for any mega-cap company but potentially more so for those internationally. As an investor, it's very important to run through all the potential risks to a company before investing and only allocate capital if you believe the potential reward outweighs the risks accounted for.</p><p><b>Summary</b></p><p>In a short-term view, Alibaba has an excellent catalyst with the 6.18 sale. It is their first major sale since COVID, and it lasts from May 24th – June 20th. While sales like these are common annually and may have an extremely minimal effect on stock price, the positive sentiment generated could be a good turning point for BABA. Based on a long-term approach, I believe Alibaba will continue to be a massive global leader and continue to dominate Chinese e-commerce even in the wake of regulatory risk. With a rapidly growing middle-class and a digital transformation acceleration, I think core commerce and Alibaba cloud will continue driving growth for the company. After paying off the fine imposed I think much of the regulatory risk is behind them now. As future earnings growth has the potential to outweigh any regulatory concerns, BABA is in the making be an excellent investment opportunity, especially at deeply discounted valuations.</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>Alibaba stock surged nearly 5% in premarket trading</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\">\nAlibaba stock surged nearly 5% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-01 16:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Alibaba stock surged&nbsp;nearly 5% in premarket trading&nbsp;after&nbsp;its shares closing up 3.4% in Hong Kong.</p><p><img src=\"https://static.tigerbbs.com/eb087d2067906ea07d1e9a1851fb2170\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/de6e1ea296db9382fbaf414201ee23d4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><ul><li>Suspended Ant Group IPO, Jack Ma's disappearance, and regulatory concerns have forced Alibaba’s stock price ~-30% off highs.</li><li>I believe Alibaba is trading at massive discounts on a relative basis.</li><li>Future growth runways coupled with discounted buying opportunities could create a valuable investment opportunity.</li></ul><p><img src=\"https://static.tigerbbs.com/76c35f5fb7c6d19825e9a4c876f7522c\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"></p><p><b>Intro</b></p><p>Currently, in a market full of elevated asset prices it can be difficult for investors to find underappreciated securities on a valuation basis. After months of negative headlines and regulatory issues, I believe Alibaba (BABA) is being underappreciated through the lens of both valuation and growth potential. While investors may be fearful of regulatory risks, management stability, and financial legitimacy, BABA’s growth runway coupled with discounted prices could potentially produce a valuable investment opportunity.</p><p><b>Why I Think it is Cheap</b></p><p>After Chinese regulators suspended the highly anticipated IPO of Ant Group due to issues surrounding changes in the financial regulatory environment and how the company was not meeting disclosure requirements, BABA’s share price began seeing initial selling pressure. BABA saw an -8.13% dip in share price after the IPO was delayed. Given that BABA has a&nbsp;33% equity interestin the company, the canceled listing of Ant Group caused obvious headwinds. Shortly after the canceled IPO, Jack Ma publicly denounced China’s financial regulators on stage at a conference in Shanghai. Adding to the mountain of negative headlines, the outspoken founder went missing shortly after this stint which was followed by a further decline in share price. Weeks after Ma’s criticisms regarding China’s regulators, China came crashing down hard on Alibaba with an antitrust investigation based on monopolistic concerns. BABA’s share price began to see deep selling pressure in late December with the U.S.-listed ADR falling over -13% on Christmas Eve.</p><p><img src=\"https://static.tigerbbs.com/67f6cf5346933ea265d9c4ba262c3880\" tg-width=\"624\" tg-height=\"356\" referrerpolicy=\"no-referrer\"></p><p>After a slew of negative press, financial and regulatory headwinds, BABA has fallen ~-30% from ATH where it currently sits just over $210 a share. With share price declining and earnings continuing to grow rapidly, Alibaba has seen valuation multiples contract to levels not seen since shortly after their NYSE listing in 2015.</p><p><b>How Cheap is it on a Relative Basis?</b></p><p>Using the next twelve months forward earnings estimates, \"NTM,\" we begin to quantify how discounted BABA is through valuation multiples. Below are two charts showing BABA at the very bottom of its EV/S and P/E channels. Each chart compares the NTM multiple relative to the earnings denominator (NTM Revs &amp; NTM EPS respectively).</p><p><img src=\"https://static.tigerbbs.com/9e4fecfcf6207a0c65a113e167696067\" tg-width=\"624\" tg-height=\"355\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/1b0ea99d299e7aaa2a5c793434e2c05d\" tg-width=\"624\" tg-height=\"360\" referrerpolicy=\"no-referrer\"></p><p>Since BABA listed on the NYSE, their EV/S multiple has contracted over time as revenue growth has progressed rapidly; P/E typically has traded in a range of 20x – 35x NTM EPS estimates. Due to hyper EPS growth in the last few years, coupled with the short-term price downturn; Alibaba’s NTM P/E multiple has contracted to the very bottom of its historical channel (~20x NTM P/E).</p><p>Next, I used NTM forecasts for both revenue and EPS, coupled with bull, bear, and base case NTM multiples to derive my case-specific price targets. Price targets using EPS and P/E were calculated by multiplying expected NTM EPS by expected NTM P/E. Price targets using revenue and EV/S were calculated by multiplying expected NTM rev by expected NTM EV/S, subtracting trailing twelve months \"TTM\" net debt (-$52,797.3M) and dividing by TTM diluted shares outstanding (2,750M).</p><p><img src=\"https://static.tigerbbs.com/a262edad6a9272298ad31bdc8f3e1fc5\" tg-width=\"906\" tg-height=\"666\" referrerpolicy=\"no-referrer\"></p><p>After taking the median bull and bear price targets, I created a tactical risk/reward chart to determine BABA’s margin of safety at current price levels. I used the median to calculate official price targets to gain exposure from both BABA's top and bottom-line.</p><p><img src=\"https://static.tigerbbs.com/d61c7cd16fc768cc10b8ae344427eae5\" tg-width=\"682\" tg-height=\"671\" referrerpolicy=\"no-referrer\"></p><p>Given a market price of $213, BABA implies a 10.3x risk/reward level based on my forecasts. After comparing my multiple expectations to competitors, there is the risk of further contraction in EV/S over time but BABA appears very discounted relative to competition on a P/E basis.</p><p><img src=\"https://static.tigerbbs.com/8de1a38e8f053d82c2884626320b2069\" tg-width=\"907\" tg-height=\"633\" referrerpolicy=\"no-referrer\"></p><p>Next, I wanted to measure BABA’s discounted valuation relative to TTM revenue growth. To do this I created a scatter plot, charting P/S on a TTM basis on the y-axis and TTM revenue growth YoY on the x-axis. Points charted under the dashed line are deemed undervalued and any points above the line are deemed overvalued.</p><p><img src=\"https://static.tigerbbs.com/6fee6fd697b605d498925cc094b39ff5\" tg-width=\"624\" tg-height=\"370\" referrerpolicy=\"no-referrer\"></p><p>Based on TTM revenue growth through Q1 ’21, it’s clear to see the major discount BABA also has adjusted for top-line growth. Lastly, I wanted to throw in a price action chart with a long-term trendline pointing to BABA’s discounted price factor:</p><p><img src=\"https://static.tigerbbs.com/2e3c649795d1e8b6e297b436a9ee32b8\" tg-width=\"624\" tg-height=\"354\" referrerpolicy=\"no-referrer\"></p><p><b>Growth Runway</b></p><p>To capture excellent investment gains, valuation is not enough, Alibaba will have to continue executing its growth strategy. While the stock seems to be cheap on a relative basis, I also believe growth on the top and bottom lines is imminent.</p><p></p><p><img src=\"https://static.tigerbbs.com/8af3a56b016bed164ca19ff7282a581a\" tg-width=\"284\" tg-height=\"337\" referrerpolicy=\"no-referrer\"></p><p>After their Q1 release, BABA reported 41% YoY growth on the top-line driven by their leading core commerce segment alongside the fast-growing cloud segment. Coming off 35% YoY growth in 2020, being able to deliver a 41% topline increase is incredible for the year following. Given the fact COVID-19related online growth was reflected in early 2020 results, I find it very feasiblefor core commerce tailwinds to continue as growth persisted, and expanded, the following year.</p><p>Alongside general e-commerce tailwinds, China’s middle-class growth could support sales for a mega-cap commerce player like Alibaba. “China already makes up the&nbsp;largest middle-class consumption&nbsp;market segment in the world” asChinese middle-class consumers were on track to spend over $7.3 Trillion in 2020, roughly 55% higher than the United States middle-class at $4.7 Trillion. At current levels, less than one-third of China’s total population lies within their middle-class, containing roughly 400 million people. Population expectations for the Chinese middle-class are expected to be 1.2 Billion people in 2027, a 17% CAGR. Coupling the sheer class population growth with a forecasted income CAGR of 3% stacked on top, BABA is potentially looking at a 20% built-in core commerce CAGR over the next 7 years based on these estimates.</p><p>Lastly, I believe the digital transformation acceleration happening around the globewill be an excellent growth catalyst for the company moving forward. Like Amazon, Alibaba constructed its cloud base on logistical support for the commerce/delivery giant. Now that the infrastructure is built, they can grow the cloud as an operating segment, separate from core commerce, and outsource to major customers.</p><p>Below you can see previous YoY growth on three months ended and annual basis.</p><p><img src=\"https://static.tigerbbs.com/d2844a5c25507131d3bb1acc5e223c71\" tg-width=\"624\" tg-height=\"273\" referrerpolicy=\"no-referrer\"></p><p>While Alibaba Cloud only makes up 8% of total revenues, in the future I believe this segment will be a larger contributor to the total top-line as domestic and international adoption grows. Couple the cloud with core commerce expansion propelled forward by a rapidly increasing middle-class and BABA's growth runway is seemingly attractive for short and long-term investors.</p><p><img src=\"https://static.tigerbbs.com/253a50e7e7e1960b19d0ca68e2fd0360\" tg-width=\"624\" tg-height=\"462\" referrerpolicy=\"no-referrer\"></p><p><b>Risks</b></p><p>The reason this opportunity exists isn't because of a systematic drawdown or a major global catalyst suppressing stock prices, there are clear idiosyncratic risks to investing in Alibaba. The major risks of a BABA investment were highlighted clearly over the past 7 months. Starting with the Ant IPO suspension, BABA investors became concerned not just with the fin-tech company exposure, but also began questioning the financial legitimacy of BABA itself. To make things worse, the outspoken billionaire founder denounced the Chinese regulators in a very public fashion. Obviously, China didn't like this and launched the full-fledged antitrust investigation into Alibaba. The regulatory risk is my biggest concern while investing in BABA. At the end of the day, I've only ever lived in the United States and am no expert on Chinese foreign policy. I want to make clear these regulatory risks are very real for any mega-cap company but potentially more so for those internationally. As an investor, it's very important to run through all the potential risks to a company before investing and only allocate capital if you believe the potential reward outweighs the risks accounted for.</p><p><b>Summary</b></p><p>In a short-term view, Alibaba has an excellent catalyst with the 6.18 sale. It is their first major sale since COVID, and it lasts from May 24th – June 20th. While sales like these are common annually and may have an extremely minimal effect on stock price, the positive sentiment generated could be a good turning point for BABA. Based on a long-term approach, I believe Alibaba will continue to be a massive global leader and continue to dominate Chinese e-commerce even in the wake of regulatory risk. With a rapidly growing middle-class and a digital transformation acceleration, I think core commerce and Alibaba cloud will continue driving growth for the company. After paying off the fine imposed I think much of the regulatory risk is behind them now. As future earnings growth has the potential to outweigh any regulatory concerns, BABA is in the making be an excellent investment opportunity, especially at deeply discounted valuations.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112782785","content_text":"Alibaba stock surged nearly 5% in premarket trading after its shares closing up 3.4% in Hong Kong.Suspended Ant Group IPO, Jack Ma's disappearance, and regulatory concerns have forced Alibaba’s stock price ~-30% off highs.I believe Alibaba is trading at massive discounts on a relative basis.Future growth runways coupled with discounted buying opportunities could create a valuable investment opportunity.IntroCurrently, in a market full of elevated asset prices it can be difficult for investors to find underappreciated securities on a valuation basis. After months of negative headlines and regulatory issues, I believe Alibaba (BABA) is being underappreciated through the lens of both valuation and growth potential. While investors may be fearful of regulatory risks, management stability, and financial legitimacy, BABA’s growth runway coupled with discounted prices could potentially produce a valuable investment opportunity.Why I Think it is CheapAfter Chinese regulators suspended the highly anticipated IPO of Ant Group due to issues surrounding changes in the financial regulatory environment and how the company was not meeting disclosure requirements, BABA’s share price began seeing initial selling pressure. BABA saw an -8.13% dip in share price after the IPO was delayed. Given that BABA has a 33% equity interestin the company, the canceled listing of Ant Group caused obvious headwinds. Shortly after the canceled IPO, Jack Ma publicly denounced China’s financial regulators on stage at a conference in Shanghai. Adding to the mountain of negative headlines, the outspoken founder went missing shortly after this stint which was followed by a further decline in share price. Weeks after Ma’s criticisms regarding China’s regulators, China came crashing down hard on Alibaba with an antitrust investigation based on monopolistic concerns. BABA’s share price began to see deep selling pressure in late December with the U.S.-listed ADR falling over -13% on Christmas Eve.After a slew of negative press, financial and regulatory headwinds, BABA has fallen ~-30% from ATH where it currently sits just over $210 a share. With share price declining and earnings continuing to grow rapidly, Alibaba has seen valuation multiples contract to levels not seen since shortly after their NYSE listing in 2015.How Cheap is it on a Relative Basis?Using the next twelve months forward earnings estimates, \"NTM,\" we begin to quantify how discounted BABA is through valuation multiples. Below are two charts showing BABA at the very bottom of its EV/S and P/E channels. Each chart compares the NTM multiple relative to the earnings denominator (NTM Revs & NTM EPS respectively).Since BABA listed on the NYSE, their EV/S multiple has contracted over time as revenue growth has progressed rapidly; P/E typically has traded in a range of 20x – 35x NTM EPS estimates. Due to hyper EPS growth in the last few years, coupled with the short-term price downturn; Alibaba’s NTM P/E multiple has contracted to the very bottom of its historical channel (~20x NTM P/E).Next, I used NTM forecasts for both revenue and EPS, coupled with bull, bear, and base case NTM multiples to derive my case-specific price targets. Price targets using EPS and P/E were calculated by multiplying expected NTM EPS by expected NTM P/E. Price targets using revenue and EV/S were calculated by multiplying expected NTM rev by expected NTM EV/S, subtracting trailing twelve months \"TTM\" net debt (-$52,797.3M) and dividing by TTM diluted shares outstanding (2,750M).After taking the median bull and bear price targets, I created a tactical risk/reward chart to determine BABA’s margin of safety at current price levels. I used the median to calculate official price targets to gain exposure from both BABA's top and bottom-line.Given a market price of $213, BABA implies a 10.3x risk/reward level based on my forecasts. After comparing my multiple expectations to competitors, there is the risk of further contraction in EV/S over time but BABA appears very discounted relative to competition on a P/E basis.Next, I wanted to measure BABA’s discounted valuation relative to TTM revenue growth. To do this I created a scatter plot, charting P/S on a TTM basis on the y-axis and TTM revenue growth YoY on the x-axis. Points charted under the dashed line are deemed undervalued and any points above the line are deemed overvalued.Based on TTM revenue growth through Q1 ’21, it’s clear to see the major discount BABA also has adjusted for top-line growth. Lastly, I wanted to throw in a price action chart with a long-term trendline pointing to BABA’s discounted price factor:Growth RunwayTo capture excellent investment gains, valuation is not enough, Alibaba will have to continue executing its growth strategy. While the stock seems to be cheap on a relative basis, I also believe growth on the top and bottom lines is imminent.After their Q1 release, BABA reported 41% YoY growth on the top-line driven by their leading core commerce segment alongside the fast-growing cloud segment. Coming off 35% YoY growth in 2020, being able to deliver a 41% topline increase is incredible for the year following. Given the fact COVID-19related online growth was reflected in early 2020 results, I find it very feasiblefor core commerce tailwinds to continue as growth persisted, and expanded, the following year.Alongside general e-commerce tailwinds, China’s middle-class growth could support sales for a mega-cap commerce player like Alibaba. “China already makes up the largest middle-class consumption market segment in the world” asChinese middle-class consumers were on track to spend over $7.3 Trillion in 2020, roughly 55% higher than the United States middle-class at $4.7 Trillion. At current levels, less than one-third of China’s total population lies within their middle-class, containing roughly 400 million people. Population expectations for the Chinese middle-class are expected to be 1.2 Billion people in 2027, a 17% CAGR. Coupling the sheer class population growth with a forecasted income CAGR of 3% stacked on top, BABA is potentially looking at a 20% built-in core commerce CAGR over the next 7 years based on these estimates.Lastly, I believe the digital transformation acceleration happening around the globewill be an excellent growth catalyst for the company moving forward. Like Amazon, Alibaba constructed its cloud base on logistical support for the commerce/delivery giant. Now that the infrastructure is built, they can grow the cloud as an operating segment, separate from core commerce, and outsource to major customers.Below you can see previous YoY growth on three months ended and annual basis.While Alibaba Cloud only makes up 8% of total revenues, in the future I believe this segment will be a larger contributor to the total top-line as domestic and international adoption grows. Couple the cloud with core commerce expansion propelled forward by a rapidly increasing middle-class and BABA's growth runway is seemingly attractive for short and long-term investors.RisksThe reason this opportunity exists isn't because of a systematic drawdown or a major global catalyst suppressing stock prices, there are clear idiosyncratic risks to investing in Alibaba. The major risks of a BABA investment were highlighted clearly over the past 7 months. Starting with the Ant IPO suspension, BABA investors became concerned not just with the fin-tech company exposure, but also began questioning the financial legitimacy of BABA itself. To make things worse, the outspoken billionaire founder denounced the Chinese regulators in a very public fashion. Obviously, China didn't like this and launched the full-fledged antitrust investigation into Alibaba. The regulatory risk is my biggest concern while investing in BABA. At the end of the day, I've only ever lived in the United States and am no expert on Chinese foreign policy. I want to make clear these regulatory risks are very real for any mega-cap company but potentially more so for those internationally. As an investor, it's very important to run through all the potential risks to a company before investing and only allocate capital if you believe the potential reward outweighs the risks accounted for.SummaryIn a short-term view, Alibaba has an excellent catalyst with the 6.18 sale. It is their first major sale since COVID, and it lasts from May 24th – June 20th. While sales like these are common annually and may have an extremely minimal effect on stock price, the positive sentiment generated could be a good turning point for BABA. Based on a long-term approach, I believe Alibaba will continue to be a massive global leader and continue to dominate Chinese e-commerce even in the wake of regulatory risk. With a rapidly growing middle-class and a digital transformation acceleration, I think core commerce and Alibaba cloud will continue driving growth for the company. After paying off the fine imposed I think much of the regulatory risk is behind them now. As future earnings growth has the potential to outweigh any regulatory concerns, BABA is in the making be an excellent investment opportunity, especially at deeply discounted valuations.","news_type":1,"symbols_score_info":{"BABA":0.9,"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":1046,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137573481,"gmtCreate":1622370510143,"gmtModify":1704183559034,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>not even worried if this will drop or not. Baba is the future&nbsp;","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>not even worried if this will drop or not. Baba is the future&nbsp;","text":"$Alibaba(BABA)$not even worried if this will drop or not. Baba is the future","images":[{"img":"https://static.tigerbbs.com/65d9736222d0bfe8274173f70081aeaa","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/137573481","isVote":1,"tweetType":1,"viewCount":876,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":351224626,"gmtCreate":1616598676965,"gmtModify":1704796287253,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"Chinese firms risky&nbsp;","listText":"Chinese firms risky&nbsp;","text":"Chinese firms risky","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/351224626","repostId":"1140740478","repostType":4,"repost":{"id":"1140740478","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1616598220,"share":"https://ttm.financial/m/news/1140740478?lang=en_US&edition=fundamental","pubTime":"2021-03-24 23:03","market":"us","language":"en","title":"U.S. SEC begins roll-out of law aimed at delisting Chinese firms","url":"https://stock-news.laohu8.com/highlight/detail?id=1140740478","media":"Reuters","summary":"The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.The “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.The amendments will require firms prove to the SEC they are not owne","content":"<p>The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.</p>\n<p>The “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.</p>\n<p>The amendments will require firms prove to the SEC they are not owned or controlled by an entity of a foreign government and require disclosure around audit arrangements and governmental influence, the SEC said in a statement.</p>\n<p>The agency fast-tracked the rule through “interim final amendments”, but is seeking public comments on a process for identifying companies that fail to meet the standards.</p>\n<p>The legislation required the SEC to issue rules around how companies should submit documentation within 90 days of enactment.</p>\n<p>The SEC is still “active assessing” how to roll out the rest of the law’s requirements, including the identification process and trading prohibition requirements, the statement said.</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>U.S. SEC begins roll-out of law aimed at delisting Chinese firms</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\">\nU.S. SEC begins roll-out of law aimed at delisting Chinese firms\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-03-24 23:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.</p>\n<p>The “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.</p>\n<p>The amendments will require firms prove to the SEC they are not owned or controlled by an entity of a foreign government and require disclosure around audit arrangements and governmental influence, the SEC said in a statement.</p>\n<p>The agency fast-tracked the rule through “interim final amendments”, but is seeking public comments on a process for identifying companies that fail to meet the standards.</p>\n<p>The legislation required the SEC to issue rules around how companies should submit documentation within 90 days of enactment.</p>\n<p>The SEC is still “active assessing” how to roll out the rest of the law’s requirements, including the identification process and trading prohibition requirements, the statement said.</p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140740478","content_text":"The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.\nThe “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.\nThe amendments will require firms prove to the SEC they are not owned or controlled by an entity of a foreign government and require disclosure around audit arrangements and governmental influence, the SEC said in a statement.\nThe agency fast-tracked the rule through “interim final amendments”, but is seeking public comments on a process for identifying companies that fail to meet the standards.\nThe legislation required the SEC to issue rules around how companies should submit documentation within 90 days of enactment.\nThe SEC is still “active assessing” how to roll out the rest of the law’s requirements, including the identification process and trading prohibition requirements, the statement said.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":713,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324684200,"gmtCreate":1615989862900,"gmtModify":1704789415666,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a> Patience is key! This is no penny stocks, this a big boy game","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a> Patience is key! This is no penny stocks, this a big boy game","text":"$AMC Entertainment(AMC)$ Patience is key! This is no penny stocks, this a big boy game","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324684200","isVote":1,"tweetType":1,"viewCount":771,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341845327,"gmtCreate":1617805038069,"gmtModify":1704703391193,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"Earning calls?&nbsp;","listText":"Earning calls?&nbsp;","text":"Earning calls?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/341845327","repostId":"1143956197","repostType":4,"repost":{"id":"1143956197","kind":"news","pubTimestamp":1617804758,"share":"https://ttm.financial/m/news/1143956197?lang=en_US&edition=fundamental","pubTime":"2021-04-07 22:12","market":"us","language":"en","title":"Apple and Microsoft Are Top Tech to Watch as Earnings Begin","url":"https://stock-news.laohu8.com/highlight/detail?id=1143956197","media":"TheStreet","summary":"Apple, Microsoft and Nuance are the top three tech companies to watch as first-quarter earnings seas","content":"<p>Apple, Microsoft and Nuance are the top three tech companies to watch as first-quarter earnings season begins, say analysts at Wedbush.</p>\n<p>Apple, Microsoft&nbsp;and Nuance Communications&nbsp;are the top three tech companies to watch as first-quarter earnings begin rolling out, with the trio poised to show better-than-expected earnings, sales and fundamentals thanks to their rising the fourth industrial revolution.</p>\n<p>In a research note to clients on Wednesday, Wedbush Securities analysts Dan Ives and Strecker Backe said that while valuations will continue to be an emotional bull/bear debate, “… the fundamental growth on the horizon for these next-generation technologies is unprecedented as this fourth Industrial Revolution begins to take hold across the tech landscape.</p>\n<p>“We believe first-quarter earnings over the next month will be a major positive catalyst for tech names as our checks continue to show robust fundamentals/deal activity across the board,” the analysts wrote, adding that a 25% to 30% upward move for tech stocks is potentially in the cards through the remainder of the year, despite lingering rotation fears.</p>\n<p>For Apple, Ives sees the“Supercycle” thesis&nbsp;playing out in both the March and June quarters, with the Cupertino, Calif. giant selling north of 240 million iPhones - well above current forecasts of 220 million for full-year 2021 and besting its previous record of 231 million units sold in 2015.</p>\n<p>Microsoft&nbsp;also is poised to be a long-term winner, based on Ives’ team’s field checks, with the Redmond, Wash.-based software giant making progress in the cloud arms race with growth of Azure, a move that they say will continue to narrow the gap between Microsoft and Amazon&nbsp;in the web-services world.</p>\n<p>Healthcare cloud giant Nuance, meantime, is another Wedbush favorite as the company continues to be laser-focused on building a global cloud healthcare and AI-driven business as more hospital-wide deployments shift to the cloud, especially as the focus on cloud, security, and sharing healthcare data&nbsp;becomes front and center.</p>\n<p>Ives and his team have outperform ratings on all three companies.</p>\n<p>At last check, shares of Apple were down 0.42% at $125.68, while shares of Microsoft were up 0.35% at $248.72. Shares of Nuance were up 0.32% at $44.37.</p>\n<p></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>Apple and Microsoft Are Top Tech to Watch as Earnings Begin</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; 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}\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\">\nApple and Microsoft Are Top Tech to Watch as Earnings Begin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 22:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/apple-microsoft-nuance-earnings-dan-ives-wedbush-forecast><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple, Microsoft and Nuance are the top three tech companies to watch as first-quarter earnings season begins, say analysts at Wedbush.\nApple, Microsoft and Nuance Communications are the top three ...</p>\n\n<a href=\"https://www.thestreet.com/investing/apple-microsoft-nuance-earnings-dan-ives-wedbush-forecast\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSFT":"微软","AAPL":"苹果","NUAN":"微妙通讯"},"source_url":"https://www.thestreet.com/investing/apple-microsoft-nuance-earnings-dan-ives-wedbush-forecast","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143956197","content_text":"Apple, Microsoft and Nuance are the top three tech companies to watch as first-quarter earnings season begins, say analysts at Wedbush.\nApple, Microsoft and Nuance Communications are the top three tech companies to watch as first-quarter earnings begin rolling out, with the trio poised to show better-than-expected earnings, sales and fundamentals thanks to their rising the fourth industrial revolution.\nIn a research note to clients on Wednesday, Wedbush Securities analysts Dan Ives and Strecker Backe said that while valuations will continue to be an emotional bull/bear debate, “… the fundamental growth on the horizon for these next-generation technologies is unprecedented as this fourth Industrial Revolution begins to take hold across the tech landscape.\n“We believe first-quarter earnings over the next month will be a major positive catalyst for tech names as our checks continue to show robust fundamentals/deal activity across the board,” the analysts wrote, adding that a 25% to 30% upward move for tech stocks is potentially in the cards through the remainder of the year, despite lingering rotation fears.\nFor Apple, Ives sees the“Supercycle” thesis playing out in both the March and June quarters, with the Cupertino, Calif. giant selling north of 240 million iPhones - well above current forecasts of 220 million for full-year 2021 and besting its previous record of 231 million units sold in 2015.\nMicrosoft also is poised to be a long-term winner, based on Ives’ team’s field checks, with the Redmond, Wash.-based software giant making progress in the cloud arms race with growth of Azure, a move that they say will continue to narrow the gap between Microsoft and Amazon in the web-services world.\nHealthcare cloud giant Nuance, meantime, is another Wedbush favorite as the company continues to be laser-focused on building a global cloud healthcare and AI-driven business as more hospital-wide deployments shift to the cloud, especially as the focus on cloud, security, and sharing healthcare data becomes front and center.\nIves and his team have outperform ratings on all three companies.\nAt last check, shares of Apple were down 0.42% at $125.68, while shares of Microsoft were up 0.35% at $248.72. Shares of Nuance were up 0.32% at $44.37.","news_type":1,"symbols_score_info":{"NUAN":0.9,"AAPL":0.9,"MSFT":0.9}},"isVote":1,"tweetType":1,"viewCount":962,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158623406,"gmtCreate":1625148256105,"gmtModify":1703737178567,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a> How does MU drop when earnings are so well","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a> How does MU drop when earnings are so well","text":"$Micron Technology(MU)$ How does MU drop when earnings are so well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/158623406","isVote":1,"tweetType":1,"viewCount":1767,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370274315,"gmtCreate":1618592375137,"gmtModify":1704713251825,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/JG\">$Aurora Mobile Ltd(JG)$</a> These nights, I have been praying to hear bad news about the company. Maybe then.. the price will rise.","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/JG\">$Aurora Mobile Ltd(JG)$</a> These nights, I have been praying to hear bad news about the company. Maybe then.. the price will rise.","text":"$Aurora Mobile Ltd(JG)$ These nights, I have been praying to hear bad news about the company. Maybe then.. the price will rise.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/370274315","isVote":1,"tweetType":1,"viewCount":1358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343590717,"gmtCreate":1617722496839,"gmtModify":1704702324625,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"Like my. Comment pls","listText":"Like my. Comment pls","text":"Like my. Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/343590717","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","pubTimestamp":1617672655,"share":"https://ttm.financial/m/news/1101907559?lang=en_US&edition=fundamental","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<blockquote>\n <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>\n</blockquote>\n<p>Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p>\n<p>In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p>\n<p>Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p>\n<p>The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p>\n<p>A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p>\n<p><b>Unregulated money managers</b></p>\n<p>Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p>\n<p>This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p>\n<p>The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p>\n<p>But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p>\n<p><b>Danger of counterparty risk</b></p>\n<p>This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p>\n<p>So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p>\n<p>One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p>\n<p>But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p>\n<p><b>Yellen on the case</b></p>\n<p>This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p>\n<p>Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p>\n<p>The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time</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\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 09:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of ...</p>\n\n<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164888725,"gmtCreate":1624192159067,"gmtModify":1703830401086,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"Comment and like pls","listText":"Comment and like pls","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/164888725","repostId":"1199331995","repostType":4,"isVote":1,"tweetType":1,"viewCount":2392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361159141,"gmtCreate":1614215172083,"gmtModify":1704889640762,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>&nbsp;what did I say? The only way now is up!&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>&nbsp;what did I say? The only way now is up!&nbsp;","text":"$AMC Entertainment(AMC)$ what did I say? The only way now is up!","images":[{"img":"https://static.tigerbbs.com/3a4888b21c2bf457c1d94fe32c3bb77b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/361159141","isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":158845447,"gmtCreate":1625146374189,"gmtModify":1703737074085,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a> How does MU drop when earnings are so well","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a> How does MU drop when earnings are so well","text":"$Micron Technology(MU)$ How does MU drop when earnings are so well","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/158845447","isVote":1,"tweetType":1,"viewCount":1548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186948863,"gmtCreate":1623470903252,"gmtModify":1704204569620,"author":{"id":"3575242610367126","authorId":"3575242610367126","name":"klvnong","avatar":"https://static.tigerbbs.com/6a4a459dc53d2eb560c8575a0aaf75b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575242610367126","idStr":"3575242610367126"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>&nbsp;hold for the future gains","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>&nbsp;hold for the future gains","text":"$Apple(AAPL)$ hold for the future gains","images":[{"img":"https://static.tigerbbs.com/e8ab4818a79cdd7cbe0f67902271dce4","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/186948863","isVote":1,"tweetType":1,"viewCount":1282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}