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Jdenchew

Jdenchew

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2021-04-22

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Wall Street rebounds after two-day decline; Netflix slides

2021-05-10

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2021-04-23

Like and comment thanks!

Elon Musk wants SpaceX to reach Mars so humanity is not a ‘single-planet species’

2021-05-03

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4 Reasons Baidu Could Make You Rich

2021-06-23

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Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO

2021-05-13

That was unexpected

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2021-05-21

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Elon Musk leaves Europeans guessing on location of future Tesla plant

2021-06-23

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Forget AMC: These 3 Meme Stocks Actually Have a Future

2021-05-12

Bullish on it!

Coinbase Could Have a Facebook-Like Rebound, Bull Argues

2021-04-28

Woots

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2021-04-30

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Joe Biden's $6 trillion ambition

2021-04-17

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Nio Stock Looks More Attractive Now, But Is It a Buy?

Go to Tiger App to see more news

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Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 millio","content":"<p>(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.</p>\n<p>Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.</p>\n<p>Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.</p>\n<p>The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.</p>\n<p>Earlier this month, Dingdong also filed to list in the United States.</p>\n<p>Missfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.</p>\n<p>J.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.</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>Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO</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\">\nTencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO\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\">2021-06-22 23:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.</p>\n<p>Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.</p>\n<p>Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.</p>\n<p>The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.</p>\n<p>Earlier this month, Dingdong also filed to list in the United States.</p>\n<p>Missfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.</p>\n<p>J.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MF":"每日优鲜"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169498109","content_text":"(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.\nMissfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.\nFounded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.\nThe COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.\nEarlier this month, Dingdong also filed to list in the United States.\nMissfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.\nJ.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123026041,"gmtCreate":1624404258883,"gmtModify":1703835464469,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123026041","repostId":"2145052095","repostType":4,"repost":{"id":"2145052095","kind":"highlight","pubTimestamp":1624375500,"share":"https://ttm.financial/m/news/2145052095?lang=&edition=fundamental","pubTime":"2021-06-22 23:25","market":"us","language":"en","title":"Forget AMC: These 3 Meme Stocks Actually Have a Future","url":"https://stock-news.laohu8.com/highlight/detail?id=2145052095","media":"Motley Fool","summary":"Not all meme stocks are alike.","content":"<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the <b>S&amp;P 500</b> is around 10% annually.</p>\n<p>While traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.</p>\n<p>No stock represents that phenomenon better than <b>AMC Entertainment Holdings</b> (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/e52f3c866905316452fa461447bc7057\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Bringing down the curtain on AMC</h3>\n<p>Beyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.</p>\n<p>The problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.</p>\n<p>Theater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.</p>\n<p>Theaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.</p>\n<p>That may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.</p>\n<p>AMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.</p>\n<p>While it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.</p>\n<p>AMC Entertainment is not a place for long-term investors to park their money.</p>\n<h3>Forget AMC and consider these meme stocks instead</h3>\n<p>Movie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.</p>\n<p><img src=\"https://static.tigerbbs.com/a5c7d1564239ae8b7f0599f43d88f184\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>1. Bed Bath &amp; Beyond</h3>\n<p>I had pretty much written off home furnishings retailer <b>Bed Bath &amp; Beyond</b> (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.</p>\n<p>Yet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath &amp; Beyond had amassed.</p>\n<p>The pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath &amp; Beyond has the chance to shine.</p>\n<p>One of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath &amp; Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.</p>\n<p>It has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.</p>\n<p><img src=\"https://static.tigerbbs.com/2b9b0706e36e2038b277532e6820963d\" tg-width=\"700\" tg-height=\"482\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>2. Corsair Gaming</h3>\n<p><b>Corsair Gaming</b> (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.</p>\n<p>Unlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.</p>\n<p>The company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as <a href=\"https://laohu8.com/S/AONE\">one</a> to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.</p>\n<p>Corsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.</p>\n<p>The company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on <b>Alphabet</b>'s YouTube. There are also millions of active streamers across Twitch and <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> Gaming, as well as on platforms of Chinese gaming sites <b>Huya</b> and <b>DouYu</b>, to drive sales of gaming and content-creation gear.</p>\n<p>There's a substantial growth trajectory still ahead for Corsair Gaming, <a href=\"https://laohu8.com/S/AONE.U\">one</a> that shouldn't be obscured by having become a meme stock favorite.</p>\n<p><img src=\"https://static.tigerbbs.com/8c01389388c3306ea6e9b152ac7e7f05\" tg-width=\"700\" tg-height=\"465\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>3. GameStop</h3>\n<p>As the original meme stock investment, <b>GameStop</b> (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.</p>\n<p>If theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.</p>\n<p>Which is exactly why the new management team, almost wholly brought over from <b>Amazon</b> and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"</p>\n<p>It's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.</p>\n<p>Since gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.</p>\n<p>There's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.</p>\n<p>Instead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Forget AMC: These 3 Meme Stocks Actually Have a Future</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\">\nForget AMC: These 3 Meme Stocks Actually Have a Future\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 23:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","BBBY":"3B家居","CRSR":"Corsair Gaming, Inc.","FUTR.UK":"FUTURE"},"source_url":"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145052095","content_text":"Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the S&P 500 is around 10% annually.\nWhile traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.\nNo stock represents that phenomenon better than AMC Entertainment Holdings (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.\n\nImage source: Getty Images.\nBringing down the curtain on AMC\nBeyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.\nThe problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.\nTheater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.\nTheaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.\nThat may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.\nAMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.\nWhile it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.\nAMC Entertainment is not a place for long-term investors to park their money.\nForget AMC and consider these meme stocks instead\nMovie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.\n\nImage source: Getty Images.\n1. Bed Bath & Beyond\nI had pretty much written off home furnishings retailer Bed Bath & Beyond (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.\nYet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath & Beyond had amassed.\nThe pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath & Beyond has the chance to shine.\nOne of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath & Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.\nIt has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.\n\nImage source: Getty Images.\n2. Corsair Gaming\nCorsair Gaming (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.\nUnlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.\nThe company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as one to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.\nCorsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.\nThe company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on Alphabet's YouTube. There are also millions of active streamers across Twitch and Facebook Gaming, as well as on platforms of Chinese gaming sites Huya and DouYu, to drive sales of gaming and content-creation gear.\nThere's a substantial growth trajectory still ahead for Corsair Gaming, one that shouldn't be obscured by having become a meme stock favorite.\n\nImage source: Getty Images.\n3. GameStop\nAs the original meme stock investment, GameStop (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.\nIf theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.\nWhich is exactly why the new management team, almost wholly brought over from Amazon and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"\nIt's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.\nSince gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.\nThere's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.\nInstead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139856228,"gmtCreate":1621608198864,"gmtModify":1704360525484,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139856228","repostId":"2137901923","repostType":4,"repost":{"id":"2137901923","kind":"highlight","pubTimestamp":1621606683,"share":"https://ttm.financial/m/news/2137901923?lang=&edition=fundamental","pubTime":"2021-05-21 22:18","market":"us","language":"en","title":"Elon Musk leaves Europeans guessing on location of future Tesla plant","url":"https://stock-news.laohu8.com/highlight/detail?id=2137901923","media":"Barrons","summary":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government i","content":"<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the&nbsp;Tesla&nbsp;founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.</p>\n<ul>\n <li>Musk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw&nbsp;British media speculate&nbsp;that he might change his mind.</li>\n <li>The U.K. government’s Office for Investment,&nbsp;created&nbsp;last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.</li>\n <li>Musk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars&nbsp;has been delayed&nbsp;from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.</li>\n <li>Tesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk&nbsp;said on Friday,&nbsp;while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.</li>\n</ul>\n<p><b>The outlook:</b>Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.</p>\n<p>If Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk leaves Europeans guessing on location of future Tesla plant</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\">\nElon Musk leaves Europeans guessing on location of future Tesla plant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. ...</p>\n\n<a href=\"https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137901923","content_text":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.\n\nMusk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw British media speculate that he might change his mind.\nThe U.K. government’s Office for Investment, created last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.\nMusk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars has been delayed from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.\nTesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk said on Friday, while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.\n\nThe outlook:Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.\nIf Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.","news_type":1},"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191120696,"gmtCreate":1620865144115,"gmtModify":1704349439560,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"That was unexpected&nbsp;","listText":"That was unexpected&nbsp;","text":"That was unexpected","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/191120696","repostId":"2135643454","repostType":4,"repost":{"id":"2135643454","kind":"news","pubTimestamp":1620863722,"share":"https://ttm.financial/m/news/2135643454?lang=&edition=fundamental","pubTime":"2021-05-13 07:55","market":"other","language":"en","title":"Bitcoin plunges after Elon Musk's Tesla stops taking it for car payments over climate concerns","url":"https://stock-news.laohu8.com/highlight/detail?id=2135643454","media":"The Straits Times","summary":"BENGALURU (REUTERS) - Tesla has suspended the use of bitcoin to purchase its vehicles because of cli","content":"<div>\n<p>BENGALURU (REUTERS) - Tesla has suspended the use of bitcoin to purchase its vehicles because of climate concerns, chief executive officer Elon Musk said in a tweet on Wednesday (May 12), reversing ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/bitcoin-plunges-after-elon-musks-tesla-stops-taking-it-for-car-payments\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin plunges after Elon Musk's Tesla stops taking it for car payments over climate concerns</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin plunges after Elon Musk's Tesla stops taking it for car payments over climate concerns\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-13 07:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/companies-markets/bitcoin-plunges-after-elon-musks-tesla-stops-taking-it-for-car-payments><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BENGALURU (REUTERS) - Tesla has suspended the use of bitcoin to purchase its vehicles because of climate concerns, chief executive officer Elon Musk said in a tweet on Wednesday (May 12), reversing ...</p>\n\n<a href=\"http://www.straitstimes.com/business/companies-markets/bitcoin-plunges-after-elon-musks-tesla-stops-taking-it-for-car-payments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"http://www.straitstimes.com/business/companies-markets/bitcoin-plunges-after-elon-musks-tesla-stops-taking-it-for-car-payments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135643454","content_text":"BENGALURU (REUTERS) - Tesla has suspended the use of bitcoin to purchase its vehicles because of climate concerns, chief executive officer Elon Musk said in a tweet on Wednesday (May 12), reversing the company's stance in the face of an outcry from some environmentalists and investors.Bitcoin, the world's biggest digital currency, fell more than 7 per cent after the tweet and was trading at US$52,669. Tesla Inc revealed in February it had bought US$1.5 billion of bitcoin and would soon accept it as payment for cars, driving a roughly 20 per cent surge in the world's most widely held cryptocurrency.Mr Musk on Wednesday said Tesla would not sell any bitcoin, and intends to use bitcoin for transactions as soon as mining transitions to more sustainable energy.\"We are also looking at other cryptocurrencies that use <1 per cent of bitcoin's energy/transaction,\" Mr Musk said.Mr Musk said in March that Tesla customers can buy its electric vehicles with bitcoin.The digital currency is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies on electricity generated with fossil fuels, particularly coal.At current rates, such bitcoin \"mining\" devours about the same amount of energy annually as the Netherlands did in 2019, the latest available data from the University of Cambridge and the International Energy Agency shows.Some investors cast doubt on Tesla's plans months ago.\"We are of course very concerned about the level of carbon dioxide emissions generated from bitcoin mining,\" said Ben Dear, CEO of Osmosis Investment Management, a sustainable investor managing around US$2.2 billion in assets that holds Tesla stock in several portfolios, in February, shortly after Tesla's holdings became public.Mr Musk himself is a strong believer in digital currencies, but also advocates for clean technology.\"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,\" Mr Musk said.In theory, blockchain analysis firms say, it is possible to track the source of bitcoin, raising the possibility that a premium could be charged for green bitcoin. Stronger climate change policies by governments around the world might also help.Some bitcoin proponents note that the existing financial system - with its millions of employees and computers in air-conditioned offices - uses large amounts of energy too.","news_type":1},"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193421838,"gmtCreate":1620811951924,"gmtModify":1704348763461,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Bullish on it!","listText":"Bullish on it!","text":"Bullish on it!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/193421838","repostId":"1104508784","repostType":4,"repost":{"id":"1104508784","kind":"news","pubTimestamp":1620809491,"share":"https://ttm.financial/m/news/1104508784?lang=&edition=fundamental","pubTime":"2021-05-12 16:51","market":"us","language":"en","title":"Coinbase Could Have a Facebook-Like Rebound, Bull Argues","url":"https://stock-news.laohu8.com/highlight/detail?id=1104508784","media":"Barron's","summary":"Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencie","content":"<p>Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencies. It signified that the industry had entered the mainstream and survived a review by the Securities and Exchange Commission.</p><p>But the weeks since have been rockier. Shares of Coinbase (ticker: COIN) peaked at $429 on their opening day but fell below $300 by the following week and closed on Tuesday at $303. The stock’s current price still represents a remarkably high valuation compared with most other stocks, including other fast-growing tech names.</p><p>But it’s not near the level that bulls projected, and some are now pushing back on the bearish case against Coinbase.</p><p>In recent notes, analysts argue that the bears are missing the company’s potential. The notes come ahead of Coinbase’s first-quarter earnings report on Thursday. Coinbase already previewed its results, but the company’s comments on the earnings call could move the stock.</p><p>The main bearish case against Coinbase is that the fees it relies on for more than 90% of its revenue will be whittled away in the years ahead by competitors. Coinbase charges a base fee of 4% to U.S. users that can be lower based on payment methods. Other brokers and exchanges offer cheaper crypto trading and may continue to cut rates. Bears like David Trainer at New Constructs research firm expects competition “should reduce the company’s market share and pricing power.”</p><p>Other analysts are now pushing back against that thesis. In a note initiating coverage of Coinbase with a Buy rating on Tuesday, Oppenheimer’s Owen Lau wrote that the “fee compression concern is overblown.” He thinks that Coinbase’s business model isn’t the same as a traditional exchange or broker, whose services are easier to duplicate.</p><p>Coinbase has more comprehensive services, from custody to exchange to brokerage, and its fees take this larger suite of services into account. Handling cryptocurrencies is much trickier than holding stocks, given that crypto has a history of being hacked or lost. The company is also building out a “suite of services” that have recurring revenue, including a program called “staking” that allows crypto holders to earn interest.</p><p>Lau values Coinbase at 16 times its 2022 revenue expectations, coming to a $434 price target. He has a rating of Outperform on the stock.</p><p>BTIG analyst Mark Palmer also wrote a bullish note on Coinbase, seeking to dispel the fee-compression argument. Palmer thinks the bears may currently be winning the argument about Coinbase because the company used a nontraditional path to sell its shares, listing them directly on the Nasdaq instead of working with a bank to market and sell them. He thinks the path of Coinbase’s stock may resemble that of Facebook ‘s. Facebook (FB) initially fell after its initial public offering, but recovered as investors grew more comfortable with its business model.</p><p>“Just as many investors initially struggled to understand Facebook and what it could become, we believe most investors who would consider buying COIN are still trying to gain a better understanding of its business, the environment in which it operates, and the crypto ecosystem in general,” Palmer wrote. “It is our view that the stock’s recent weakness reflects the impact of the company’s decision to pursue a direct listing rather than a traditional IPO with a full marketing roadshow, an approach that has given rise to an information vacuum eagerly filled by those pushing a bearish thesis based almost entirely on the potential for retail take-rate compression.”</p><p>Palmer’s price target is $500, based on a multiple of 16 times the company’s projected 2024 sales.</p><p>Coinbase rose 0.84% in premarket trading Wednesday for now.</p><p><img src=\"https://static.tigerbbs.com/9a96f74c36fa6fcbc92186c8bc18ca1f\" tg-width=\"766\" tg-height=\"494\"></p>","source":"lsy1610680873436","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>Coinbase Could Have a Facebook-Like Rebound, Bull Argues</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\">\nCoinbase Could Have a Facebook-Like Rebound, Bull Argues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-12 16:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/coinbase-could-have-a-facebook-like-rebound-bull-argues-51620767141?siteid=yhoof2><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencies. It signified that the industry had entered the mainstream and survived a review by the Securities...</p>\n\n<a href=\"https://www.barrons.com/articles/coinbase-could-have-a-facebook-like-rebound-bull-argues-51620767141?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/coinbase-could-have-a-facebook-like-rebound-bull-argues-51620767141?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104508784","content_text":"Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencies. It signified that the industry had entered the mainstream and survived a review by the Securities and Exchange Commission.But the weeks since have been rockier. Shares of Coinbase (ticker: COIN) peaked at $429 on their opening day but fell below $300 by the following week and closed on Tuesday at $303. The stock’s current price still represents a remarkably high valuation compared with most other stocks, including other fast-growing tech names.But it’s not near the level that bulls projected, and some are now pushing back on the bearish case against Coinbase.In recent notes, analysts argue that the bears are missing the company’s potential. The notes come ahead of Coinbase’s first-quarter earnings report on Thursday. Coinbase already previewed its results, but the company’s comments on the earnings call could move the stock.The main bearish case against Coinbase is that the fees it relies on for more than 90% of its revenue will be whittled away in the years ahead by competitors. Coinbase charges a base fee of 4% to U.S. users that can be lower based on payment methods. Other brokers and exchanges offer cheaper crypto trading and may continue to cut rates. Bears like David Trainer at New Constructs research firm expects competition “should reduce the company’s market share and pricing power.”Other analysts are now pushing back against that thesis. In a note initiating coverage of Coinbase with a Buy rating on Tuesday, Oppenheimer’s Owen Lau wrote that the “fee compression concern is overblown.” He thinks that Coinbase’s business model isn’t the same as a traditional exchange or broker, whose services are easier to duplicate.Coinbase has more comprehensive services, from custody to exchange to brokerage, and its fees take this larger suite of services into account. Handling cryptocurrencies is much trickier than holding stocks, given that crypto has a history of being hacked or lost. The company is also building out a “suite of services” that have recurring revenue, including a program called “staking” that allows crypto holders to earn interest.Lau values Coinbase at 16 times its 2022 revenue expectations, coming to a $434 price target. He has a rating of Outperform on the stock.BTIG analyst Mark Palmer also wrote a bullish note on Coinbase, seeking to dispel the fee-compression argument. Palmer thinks the bears may currently be winning the argument about Coinbase because the company used a nontraditional path to sell its shares, listing them directly on the Nasdaq instead of working with a bank to market and sell them. He thinks the path of Coinbase’s stock may resemble that of Facebook ‘s. Facebook (FB) initially fell after its initial public offering, but recovered as investors grew more comfortable with its business model.“Just as many investors initially struggled to understand Facebook and what it could become, we believe most investors who would consider buying COIN are still trying to gain a better understanding of its business, the environment in which it operates, and the crypto ecosystem in general,” Palmer wrote. “It is our view that the stock’s recent weakness reflects the impact of the company’s decision to pursue a direct listing rather than a traditional IPO with a full marketing roadshow, an approach that has given rise to an information vacuum eagerly filled by those pushing a bearish thesis based almost entirely on the potential for retail take-rate compression.”Palmer’s price target is $500, based on a multiple of 16 times the company’s projected 2024 sales.Coinbase rose 0.84% in premarket trading Wednesday for now.","news_type":1},"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190491682,"gmtCreate":1620641039946,"gmtModify":1704345964545,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Comment!","listText":"Comment!","text":"Comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/190491682","repostId":"2134686276","repostType":4,"repost":{"id":"2134686276","kind":"news","pubTimestamp":1620604523,"share":"https://ttm.financial/m/news/2134686276?lang=&edition=fundamental","pubTime":"2021-05-10 07:55","market":"us","language":"en","title":"Coinbase, Disney, EA, DoorDash, Simon Property, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2134686276","media":"FX Empire","summary":"Marriott International, an American multinational diversified hospitality company, is expected to report its first-quarter earnings of $0.03 per share, which represents a year-over-year decline of over 88% from $0.26 per share seen in the same quarter a year ago.The U.S. hotel operator’s revenue would slump about 50% to $2.36 billion. However, in the last quarter, the company has delivered an earnings surprise of over 20%.“Largest hotel brand company globally creates economies of scale, but the ","content":"<ul><li>Monday (May 10)</li><li>Tuesday (May 11)</li><li>Wednesday (May 12)</li><li>Thursday (May 13)</li><li>Friday (May 14)</li></ul><p>Earnings Calendar For The Week Of May 10</p><p><img src=\"https://static.tigerbbs.com/6ee15b26d510129ee55daa8fed460634\" tg-width=\"1430\" tg-height=\"662\"></p><h2>Monday (May 10)</h2><p><b>IN THE SPOTLIGHT: MARRIOTT</b></p><p>Marriott International, an American multinational diversified hospitality company, is expected to report its first-quarter earnings of $0.03 per share, which represents a year-over-year decline of over 88% from $0.26 per share seen in the same quarter a year ago.</p><p>The U.S. hotel operator’s revenue would slump about 50% to $2.36 billion. However, in the last quarter, the company has delivered an earnings surprise of over 20%.</p><p>“Largest hotel brand company globally creates economies of scale, but the spread of COVID-19 will pressure unit growth. With the stock trading near its historical average multiple, we see too wide a risk-reward to justify recommending, with upside/downside driven by how severe and quick business trends return to normal post-COVID-19,” noted Thomas Allen, equity analyst at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>.</p><h2>Tuesday (May 11)</h2><p><b>IN THE SPOTLIGHT: ELECTRONIC ARTS</b></p><p>Electronic Arts, <a href=\"https://laohu8.com/S/AONE\">one</a> of the world’s largest video game publishers, is expected to report its fiscal fourth-quarter earnings of $1.04 per share, which represents a year-over-year decline of over 3% from $1.08 per share seen in the same quarter a year ago.</p><p>The world’s largest video game publishers would post revenue growth of about 15% to around $1.39 billion. However, in the last four quarters, the company has delivered an earnings surprise of over 500%.</p><p>“For the fourth quarter of fiscal 2021, EA expects GAAP revenues of $1.317 billion, cost of revenues to be $302 million, and operating expenses of $837 million. EA anticipates a loss per share of 7 cents for the fourth quarter. Net bookings are expected to be $1.375 billion, which indicates an increase of $75 million over the prior guidance. For fiscal 2021, EA expects revenues of $5.6 billion, cost of revenues to be $1.477 billion, and earnings per share of $2.54,” noted analysts at ZACKS Research.</p><h2>Wednesday (May 12)</h2><table width=\"434\"><tbody><tr><td width=\"64\"><b>Ticker</b></td><td width=\"257\"><b>Company</b></td><td width=\"113\"><b>EPS Forecast</b></td></tr><tr><td width=\"64\"><u>WEN</u></td><td width=\"257\">Wendy’s</td><td width=\"113\">$0.15</td></tr><tr><td width=\"64\"><u>WIX</u></td><td width=\"257\">WIX</td><td width=\"113\">-$0.68</td></tr><tr><td width=\"64\"><u>DT</u></td><td width=\"257\">Dynatrace Holdings</td><td width=\"113\">$0.14</td></tr><tr><td width=\"64\"><u>WWW</u></td><td width=\"257\">Wolverine World Wide</td><td width=\"113\">$0.40</td></tr><tr><td width=\"64\"><u>LITE</u></td><td width=\"257\">Lumentum Holdings Inc</td><td width=\"113\">$1.42</td></tr><tr><td width=\"64\"><u>DOX</u></td><td width=\"257\">Amdocs</td><td width=\"113\">$1.13</td></tr><tr><td width=\"64\"><u>JACK</u></td><td width=\"257\">Jack In The Box</td><td width=\"113\">$1.29</td></tr><tr><td width=\"64\"><u>GOCO</u></td><td width=\"257\">Gocompare.Com</td><td width=\"113\">$0.00</td></tr><tr><td width=\"64\"><u>SONO</u></td><td width=\"257\"><a href=\"https://laohu8.com/S/SONO\">Sonos Inc</a></td><td width=\"113\">-$0.22</td></tr><tr><td width=\"64\"><u>PAAS</u></td><td width=\"257\">Pan American Silver USA</td><td width=\"113\">$0.30</td></tr><tr><td width=\"64\"><u>MAURY</u></td><td width=\"257\">Marui ADR</td><td width=\"113\">$0.15</td></tr><tr><td width=\"64\"><u>TM</u></td><td width=\"257\">Toyota Motor</td><td width=\"113\">$3.67</td></tr><tr><td width=\"64\"><u>AEG</u></td><td width=\"257\">Aegon</td><td width=\"113\">$0.17</td></tr><tr><td width=\"64\"><u>BRFS</u></td><td width=\"257\">BRF</td><td width=\"113\">$0.02</td></tr><tr><td width=\"64\"><u>EBR</u></td><td width=\"257\">Centrais Eletricas Brasileiras</td><td width=\"113\">$0.27</td></tr><tr><td width=\"64\"><u>BAYRY</u></td><td width=\"257\">Bayer AG PK</td><td width=\"113\">$0.73</td></tr><tr><td width=\"64\"><u>TCEHY</u></td><td width=\"257\">Tencent</td><td width=\"113\">$0.53</td></tr><tr><td width=\"64\"><u>DM</u></td><td width=\"257\">Dominion Midstream Partners</td><td width=\"113\">-$0.13</td></tr><tr><td width=\"64\"><u>FLO</u></td><td width=\"257\">Flowers Foods</td><td width=\"113\">$0.37</td></tr></tbody></table><h2>Thursday (May 13)</h2><p><b>IN THE SPOTLIGHT: ALIBABA, WALT DISNEY</b></p><p><b>ALIBABA</b>: China’s Alibaba Group Holding, the largest online and mobile e-commerce company in the world, is expected to report its fiscal fourth-quarter earnings of $1.82 per share, up over 40% from the same quarter a year ago. China’s biggest online commerce company’s revenue to surge more than 70% to $27.7 billion.</p><p>“Heightened investments in Taobao Deal and Grocery for user acquisition in less-affluent regions in China, should support long-term growth in core e-commerce business. Merchants’ marketing budgets will continue to shift online given rising reliance on e-commerce and better conversion. Alibaba’s ad resources remain under-monetized,” noted Gary Yu, equity analyst at Morgan Stanley.</p><p>“Digitalization trend in China will also sustain AliCloud’s growth potential. Gradual margin expansion will be a long-term profit driver. We see limited near-term catalysts but F22e P/E valuation remains attractive. We also see further downside support from additional disclosure to separate losses from new investments from profitable core e-commerce businesses.”</p><p><b>WALT DISNEY: </b>The world’s leading producers and providers of entertainment and information is expected to report its fiscal second-quarter earnings of $0.27 per share, which represents a year-over-year decline of over 50%. The Chicago, Illinois-based family entertainment company’s revenue would slump over 10% to $ 16.1 billion.</p><p>“Disney is building content assets that enable it to take advantage of the significant direct-to-consumer streaming opportunity ahead. Disney’s underlying IP remains best-in-class, supporting long-term content monetization opportunities,” noted Benjamin Swinburne, equity analyst at Morgan Stanley.</p><p>“During this period of FCF pressure from Parks closures, ESPN’s FCF generation is key to driving down leverage. Historical cycles suggest a potential return to above prior peak US Parks revenues in FY23.”</p><p>TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE MAY 13</p><table width=\"472\"><tbody><tr><td width=\"64\"><b>Ticker</b></td><td width=\"285\"><b>Company</b></td><td width=\"123\"><b>EPS Forecast</b></td></tr><tr><td width=\"64\"><u>CELH</u></td><td width=\"285\">Celsius</td><td width=\"123\">$0.00</td></tr><tr><td width=\"64\"><u>HAE</u></td><td width=\"285\">Haemonetics</td><td width=\"123\">$0.69</td></tr><tr><td width=\"64\"><u>BABA</u></td><td width=\"285\">Alibaba</td><td width=\"123\">$11.80</td></tr><tr><td width=\"64\"><u>BAM</u></td><td width=\"285\">Brookfield Asset Management USA</td><td width=\"123\">$0.87</td></tr><tr><td width=\"64\"><u>TAC</u></td><td width=\"285\">TransAlta USA</td><td width=\"123\">$0.06</td></tr><tr><td width=\"64\"><u>UTZ</u></td><td width=\"285\">Utz Brands</td><td width=\"123\">$0.15</td></tr><tr><td width=\"64\"><u>VERX</u></td><td width=\"285\">Vertex Inc. Cl A</td><td width=\"123\">$0.05</td></tr><tr><td width=\"64\"><u>FTCH</u></td><td width=\"285\">Farfetch</td><td width=\"123\">-$0.28</td></tr><tr><td width=\"64\"><u>DIS</u></td><td width=\"285\">Walt Disney</td><td width=\"123\">$0.27</td></tr><tr><td width=\"64\"><u>AMAT</u></td><td width=\"285\">Applied Materials</td><td width=\"123\">$1.50</td></tr><tr><td width=\"64\"><u>DDS</u></td><td width=\"285\">Dillards</td><td width=\"123\">$1.20</td></tr><tr><td width=\"64\"><u>VNET</u></td><td width=\"285\">21Vianet</td><td width=\"123\">-$0.02</td></tr><tr><td width=\"64\"><u>TEF</u></td><td width=\"285\">Telefonica</td><td width=\"123\">$0.16</td></tr><tr><td width=\"64\"><u>PBR</u></td><td width=\"285\">Petroleo Brasileiro Petrobras</td><td width=\"123\">$0.12</td></tr><tr><td width=\"64\"><u>NICE</u></td><td width=\"285\">Nice Systems</td><td width=\"123\">$1.50</td></tr><tr><td width=\"64\"><u>TYOYY</u></td><td width=\"285\">Taiyo Yuden ADR</td><td width=\"123\">$2.09</td></tr><tr><td width=\"64\"><u>IX</u></td><td width=\"285\">Orix</td><td width=\"123\">$1.97</td></tr><tr><td width=\"64\"><u>SGAMY</u></td><td width=\"285\">Sega Sammy ADR</td><td width=\"123\">-$0.02</td></tr><tr><td width=\"64\"><u>SOMLY</u></td><td width=\"285\">Secom ADR</td><td width=\"123\">$0.27</td></tr><tr><td width=\"64\"><u>OJIPY</u></td><td width=\"285\">Oji ADR</td><td width=\"123\">$1.57</td></tr><tr><td width=\"64\"><u>SBS</u></td><td width=\"285\">Companhia De Saneamento Basico</td><td width=\"123\">$0.15</td></tr></tbody></table><h2>Friday (May 14)</h2><table width=\"425\"><tbody><tr><td width=\"64\"><b>Ticker</b></td><td width=\"257\"><b>Company</b></td><td width=\"104\"><b>EPS Forecast</b></td></tr><tr><td width=\"64\"><u>MFG</u></td><td width=\"257\">Mizuho Financial</td><td width=\"104\">$0.06</td></tr><tr><td width=\"64\"><u>CIG</u></td><td width=\"257\">Companhia Energetica Minas Gerais</td><td width=\"104\">$0.08</td></tr><tr><td width=\"64\"><u>HMC</u></td><td width=\"257\">Honda Motor</td><td width=\"104\">$0.41</td></tr><tr><td width=\"64\"><u>SMFG</u></td><td width=\"257\">Sumitomo Mitsui Financial</td><td width=\"104\">$0.12</td></tr><tr><td width=\"64\"><u>RDY</u></td><td width=\"257\">Drreddys Laboratories</td><td width=\"104\">$0.52</td></tr></tbody></table>","source":"yahoofinance","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>Coinbase, Disney, EA, DoorDash, Simon Property, and Other Stocks for Investors to Watch This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase, Disney, EA, DoorDash, Simon Property, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-10 07:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/earnings-watch-next-week-marriott-071123228.html><strong>FX Empire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Monday (May 10)Tuesday (May 11)Wednesday (May 12)Thursday (May 13)Friday (May 14)Earnings Calendar For The Week Of May 10Monday (May 10)IN THE SPOTLIGHT: MARRIOTTMarriott International, an American ...</p>\n\n<a href=\"https://finance.yahoo.com/news/earnings-watch-next-week-marriott-071123228.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/earnings-watch-next-week-marriott-071123228.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2134686276","content_text":"Monday (May 10)Tuesday (May 11)Wednesday (May 12)Thursday (May 13)Friday (May 14)Earnings Calendar For The Week Of May 10Monday (May 10)IN THE SPOTLIGHT: MARRIOTTMarriott International, an American multinational diversified hospitality company, is expected to report its first-quarter earnings of $0.03 per share, which represents a year-over-year decline of over 88% from $0.26 per share seen in the same quarter a year ago.The U.S. hotel operator’s revenue would slump about 50% to $2.36 billion. However, in the last quarter, the company has delivered an earnings surprise of over 20%.“Largest hotel brand company globally creates economies of scale, but the spread of COVID-19 will pressure unit growth. With the stock trading near its historical average multiple, we see too wide a risk-reward to justify recommending, with upside/downside driven by how severe and quick business trends return to normal post-COVID-19,” noted Thomas Allen, equity analyst at Morgan Stanley.Tuesday (May 11)IN THE SPOTLIGHT: ELECTRONIC ARTSElectronic Arts, one of the world’s largest video game publishers, is expected to report its fiscal fourth-quarter earnings of $1.04 per share, which represents a year-over-year decline of over 3% from $1.08 per share seen in the same quarter a year ago.The world’s largest video game publishers would post revenue growth of about 15% to around $1.39 billion. However, in the last four quarters, the company has delivered an earnings surprise of over 500%.“For the fourth quarter of fiscal 2021, EA expects GAAP revenues of $1.317 billion, cost of revenues to be $302 million, and operating expenses of $837 million. EA anticipates a loss per share of 7 cents for the fourth quarter. Net bookings are expected to be $1.375 billion, which indicates an increase of $75 million over the prior guidance. For fiscal 2021, EA expects revenues of $5.6 billion, cost of revenues to be $1.477 billion, and earnings per share of $2.54,” noted analysts at ZACKS Research.Wednesday (May 12)TickerCompanyEPS ForecastWENWendy’s$0.15WIXWIX-$0.68DTDynatrace Holdings$0.14WWWWolverine World Wide$0.40LITELumentum Holdings Inc$1.42DOXAmdocs$1.13JACKJack In The Box$1.29GOCOGocompare.Com$0.00SONOSonos Inc-$0.22PAASPan American Silver USA$0.30MAURYMarui ADR$0.15TMToyota Motor$3.67AEGAegon$0.17BRFSBRF$0.02EBRCentrais Eletricas Brasileiras$0.27BAYRYBayer AG PK$0.73TCEHYTencent$0.53DMDominion Midstream Partners-$0.13FLOFlowers Foods$0.37Thursday (May 13)IN THE SPOTLIGHT: ALIBABA, WALT DISNEYALIBABA: China’s Alibaba Group Holding, the largest online and mobile e-commerce company in the world, is expected to report its fiscal fourth-quarter earnings of $1.82 per share, up over 40% from the same quarter a year ago. China’s biggest online commerce company’s revenue to surge more than 70% to $27.7 billion.“Heightened investments in Taobao Deal and Grocery for user acquisition in less-affluent regions in China, should support long-term growth in core e-commerce business. Merchants’ marketing budgets will continue to shift online given rising reliance on e-commerce and better conversion. Alibaba’s ad resources remain under-monetized,” noted Gary Yu, equity analyst at Morgan Stanley.“Digitalization trend in China will also sustain AliCloud’s growth potential. Gradual margin expansion will be a long-term profit driver. We see limited near-term catalysts but F22e P/E valuation remains attractive. We also see further downside support from additional disclosure to separate losses from new investments from profitable core e-commerce businesses.”WALT DISNEY: The world’s leading producers and providers of entertainment and information is expected to report its fiscal second-quarter earnings of $0.27 per share, which represents a year-over-year decline of over 50%. The Chicago, Illinois-based family entertainment company’s revenue would slump over 10% to $ 16.1 billion.“Disney is building content assets that enable it to take advantage of the significant direct-to-consumer streaming opportunity ahead. Disney’s underlying IP remains best-in-class, supporting long-term content monetization opportunities,” noted Benjamin Swinburne, equity analyst at Morgan Stanley.“During this period of FCF pressure from Parks closures, ESPN’s FCF generation is key to driving down leverage. Historical cycles suggest a potential return to above prior peak US Parks revenues in FY23.”TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE MAY 13TickerCompanyEPS ForecastCELHCelsius$0.00HAEHaemonetics$0.69BABAAlibaba$11.80BAMBrookfield Asset Management USA$0.87TACTransAlta USA$0.06UTZUtz Brands$0.15VERXVertex Inc. Cl A$0.05FTCHFarfetch-$0.28DISWalt Disney$0.27AMATApplied Materials$1.50DDSDillards$1.20VNET21Vianet-$0.02TEFTelefonica$0.16PBRPetroleo Brasileiro Petrobras$0.12NICENice Systems$1.50TYOYYTaiyo Yuden ADR$2.09IXOrix$1.97SGAMYSega Sammy ADR-$0.02SOMLYSecom ADR$0.27OJIPYOji ADR$1.57SBSCompanhia De Saneamento Basico$0.15Friday (May 14)TickerCompanyEPS ForecastMFGMizuho Financial$0.06CIGCompanhia Energetica Minas Gerais$0.08HMCHonda Motor$0.41SMFGSumitomo Mitsui Financial$0.12RDYDrreddys Laboratories$0.52","news_type":1},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108600133,"gmtCreate":1620015444222,"gmtModify":1704337405473,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Comment and like!","listText":"Comment and like!","text":"Comment and like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/108600133","repostId":"1121605010","repostType":4,"repost":{"id":"1121605010","kind":"news","pubTimestamp":1620014543,"share":"https://ttm.financial/m/news/1121605010?lang=&edition=fundamental","pubTime":"2021-05-03 12:02","market":"us","language":"en","title":"4 Reasons Baidu Could Make You Rich","url":"https://stock-news.laohu8.com/highlight/detail?id=1121605010","media":"seekingalpha","summary":"Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P","content":"<p><b>Summary</b></p>\n<ul>\n <li>Strong corporate earnings and great economic data keeps the market grinding higher. The S&amp;P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.</li>\n <li>Fortunately, whatever your goals, yield, value, growth, or total returns, something great is always on sale if you know where to look.</li>\n <li>Baidu is the Google of China, and planning on increasing spending by 30% annually over the coming years, focusing on AI, driverless cars, and streaming.</li>\n <li>In recent weeks it plunged 40%, partially due to forced hedge fund margin call selling. This creates a potentially exceptional opportunity to be \"greedy when others are fearful\" about this speculative hyper-growth blue-chip.</li>\n <li>I recently bought a starter position in Baidu, because it's 31% undervalued and analysts think it could double in the next three years, and almost triple over the next five. For anyone comfortable with the complex risk profile of Chinese tech giants, Baidu is one of the most reasonable and prudent hyper-growth blue-chips you can buy today.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fce5597f98f5e2431c73edea32173192\" tg-width=\"1536\" tg-height=\"693\"><span>Photo by DNY59/iStock via Getty Images</span></p>\n<p>Over seven years as an analyst I've studied the greatest investors in history, to see what strategies made them legends.</p>\n<p><b>Greatest Investors In History: Masters Of Financial Science</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Name</b></td>\n   <td><b>Returns</b></td>\n   <td><b>Time Horizon</b></td>\n   <td><p><b>Most Famous For</b></p></td>\n  </tr>\n  <tr>\n   <td>Jim Simmons (Co-Founder Renaissance Technologies)</td>\n   <td>71.8% CAGR</td>\n   <td>1994 to 2014 (best investing record ever recorded)</td>\n   <td><p>Pure Quant Based Investing</p></td>\n  </tr>\n  <tr>\n   <td>Joel Greenblatt</td>\n   <td>40% CAGR</td>\n   <td>21 years at Gotham Capital</td>\n   <td><p><b>\"Above-Average Quality Companies At Below-Average Prices\"</b></p></td>\n  </tr>\n  <tr>\n   <td>Peter Lynch</td>\n   <td>29.2% CAGR at Fidelity's Magellan Fund</td>\n   <td>1977 to 1990 (13 years)</td>\n   <td><p><b>\"Growth At A Reasonable Price\"</b></p></td>\n  </tr>\n  <tr>\n   <td>Bill Miller (Legg Mason Value Trust 1990 to 2006)</td>\n   <td>22.8% CAGR and beat the S&amp;P 500 for 15 consecutive years</td>\n   <td>16 years</td>\n  </tr>\n  <tr>\n   <td>Warren Buffett</td>\n   <td>20.8% CAGR at Berkshire</td>\n   <td>55 Years</td>\n   <td><p><b>Greedy when others are fearful</b></p></td>\n  </tr>\n  <tr>\n   <td>Benjamin Graham</td>\n   <td>20% CAGR vs 12% S&amp;P 500</td>\n   <td>1934 to 1956 (22 years)</td>\n   <td><b>Margin of Safety</b></td>\n  </tr>\n  <tr>\n   <td>Edward Thorp</td>\n   <td>20+% CAGR</td>\n   <td>over 30 years</td>\n   <td><p>invented card counting,<b>pure statistically-based investing</b></p></td>\n  </tr>\n  <tr>\n   <td>Charlie Munger</td>\n   <td>19.80%</td>\n   <td>1962 to 1975</td>\n   <td><p><b>Wonderful companies at fair prices</b></p></td>\n  </tr>\n  <tr>\n   <td>Howard Marks</td>\n   <td>19% CAGR</td>\n   <td>Since 1995</td>\n   <td><p><b>Valuation Mean Reversion</b></p></td>\n  </tr>\n  <tr>\n   <td>Anne Scheiber</td>\n   <td>18.3% CAGR</td>\n   <td>50 years</td>\n   <td><p>Turned $5K into $22 million with no formal training, purely with<b>tax-efficient buy and hold blue-chip investing</b>.</p></td>\n  </tr>\n  <tr>\n   <td>John Templeton</td>\n   <td>300% from 1939 to 1943, 15.8% CAGR from 1954 to 1992</td>\n   <td>38 years</td>\n   <td>Market Cycles</td>\n  </tr>\n  <tr>\n   <td>Carl Icahn</td>\n   <td>14.6% CAGR vs 5.6% S&amp;P 500</td>\n   <td><p>2001 to 2016 (15 Years)</p></td>\n  </tr>\n  <tr>\n   <td>David Swenson</td>\n   <td>13.9% CAGR at Yale's Endowment (includes bonds and alternative assets) vs 10.7% S&amp;P 500</td>\n   <td>30 years</td>\n   <td><p>Alternative Asset Allocation</p></td>\n  </tr>\n  <tr>\n   <td>Geraldine Weiss</td>\n   <td>11.2% vs 9.8% S&amp;P 500</td>\n   <td>37 years</td>\n   <td><p><b>Best risk-adjusted track record</b>of any newsletter over 30 years according to Hubbert Financial Digest, popularized<b>dividend yield theory</b>(the only strategy she employed)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Combining these lessons, along with decades of market studies from leading research institutions and blue-chip analyst firms, I've determined that there are six fundamentals that over the long term will make you rich (assuming you have discretionary savings to invest of course).</p>\n<ul>\n <li>Portfolio risk-management</li>\n <li>safety</li>\n <li>quality</li>\n <li>yield</li>\n <li>growth</li>\n <li>and value</li>\n</ul>\n<p>When combined with patience, time, and discipline, these are what made the greatest investors in history the legends they are today.</p>\n<p>You and I may never match the returns of the legends, but if we practice disciplined financial science we can avoid costly mistakes, and focus on the highest probability/low-risk blue-chips.</p>\n<blockquote>\n It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.\" - Charlie Munger\n</blockquote>\n<p>These are the \"consistently not stupid\" decisions that made Charlie Munger and Warren Buffett so successful.</p>\n<p>Today I want to explain why I've recently opened a starter tracking position in speculative hyper-growth blue-chip Baidu (BIDU).</p>\n<p><img src=\"https://static.tigerbbs.com/d78b7d254783a9f8afc60962aa7d03ee\" tg-width=\"640\" tg-height=\"390\"></p>\n<p>All Chinese tech giants are suffering a bear market right now. But notice how Baidu recently fell 40% in a matter of weeks.</p>\n<blockquote>\n Baidu was also held by now-infamous hedge fund Archegos Capital Management at that time, which blew up during the same week. When the highly levered Archegos was unable to meet a margin call, banks seized Archegos' assets, including Baidu, and sold them off in massive blocks, accelerating Baidu's plunge.\" -Motley Fool\n</blockquote>\n<p>Institutional forced selling is one of the best opportunities for prudent long-term investors to buy the world's highest quality companies at mouth-watering prices.</p>\n<p><img src=\"https://static.tigerbbs.com/e09c272fe0a5f7a5052ea3021630d643\" tg-width=\"640\" tg-height=\"390\"></p>\n<p>Lowe's (LOW) and Realty Income (O) both plunged 25% on March 16th, due to institutional forced selling.</p>\n<p>In other words, when hedge funds get margin calls, they become the ultimate dumb money. Taking the other side of those trades can be the way to earn Buffett-like returns, through buying and holding blue-chip investing.</p>\n<p>So let me explain the four reasons why I consider it time to get greedy when others are fearful on Baidu.</p>\n<blockquote>\n Today I buy what others won't, so tomorrow I earn returns others can't.\"\n</blockquote>\n<blockquote>\n  - Paraphrase of Jerry Rice\n</blockquote>\n<p><b>Reason 1: A Speculative Blue-Chip Quality Company</b></p>\n<p>According to the 2017 study<i>Do Stocks Outperform Treasury Bills?</i>by Hendrik Bessembinder of Arizona State University's W.P. Carey School of Business 52% of all stocks, lose money over time.</p>\n<p>This study looked at 26,000 companies from 1926 to 2016 and found that about 12% went to zero.</p>\n<p><img src=\"https://static.tigerbbs.com/a6f826f65373ae3a2e4061f906c54bb2\" tg-width=\"640\" tg-height=\"508\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5868a6e0418dbe8596b0c667120b3a53\" tg-width=\"640\" tg-height=\"440\"><span>(Source: Bessembinder et al)</span></p>\n<p>From 1926 to 2016 over 3,000 US companies listed on US exchanges went bankrupt. 1,100 or about 4%, delivered 100% of net positive returns. Just 48% of stocks delivered positive returns.</p>\n<p>In other words, safety and quality are what can help you avoid the value traps that don't make any money or lose all of your savings.</p>\n<p>The Dividend Kings quality scores factor in 143 fundamental metrics covering</p>\n<ul>\n <li>dividend safety</li>\n <li>balance sheet strength</li>\n <li>short and long-term bankruptcy risk</li>\n <li>accounting and corporate fraud risk</li>\n <li>profitability and business model</li>\n <li>cost of capital</li>\n <li>long-term sustainability (ESG scores and trends from MSCI, Morningstar, and Reuters'/Refinitiv)</li>\n <li>management quality</li>\n <li>dividend friendly corporate culture/income dependability</li>\n <li>long-term total returns (a Ben Graham sign of quality)</li>\n</ul>\n<p>Our model actually includes over 1,000 metrics if you count everything factored in by eight rating agencies we use to assess fundamental risk.</p>\n<p>Every metric was selected based on</p>\n<ul>\n <li>decades of empirical data</li>\n <li>the experience of the greatest investors in history</li>\n <li>eight rating agencies</li>\n <li>and what blue-chip economists and analyst firms consider most closely correlated to a company's long-term success.</li>\n</ul>\n<p>Baidu's quality is 9/12 speculative blue-chip, meaning I recommend a 2.5% max risk cap position sizing.</p>\n<p><b>Dividend Kings Quality Rating System</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Quality Score</b></td>\n   <td><b>Meaning</b></td>\n   <td><b>Max Invested Capital Risk Recommendation</b></td>\n   <td><b>Margin Of Safety Potentially Good Buy</b></td>\n   <td><b>Strong Buy</b></td>\n   <td><b>Very Strong Buy</b></td>\n   <td><p><b>Ultra-Value Buy</b></p></td>\n  </tr>\n  <tr>\n   <td>3</td>\n   <td>Terrible, Very High Long-Term Bankruptcy Risk</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>4</td>\n   <td>Very Poor</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>Poor</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>6</td>\n   <td>Below-Average, Fallen Angels (very speculative)</td>\n   <td>1%</td>\n   <td>45%</td>\n   <td>55%</td>\n   <td>65%</td>\n   <td>75%</td>\n  </tr>\n  <tr>\n   <td>7</td>\n   <td>Average (Relative to S&amp;P 500)</td>\n   <td>2.5%</td>\n   <td>35%</td>\n   <td>45%</td>\n   <td>55%</td>\n   <td>65%</td>\n  </tr>\n  <tr>\n   <td>8</td>\n   <td>Above-Average</td>\n   <td>5% (unless speculative then 2.5%)</td>\n   <td>25% to 30%</td>\n   <td>35% to 40%</td>\n   <td>45% to 50%</td>\n   <td><p>55% to 60%</p></td>\n  </tr>\n  <tr>\n   <td><b>9</b></td>\n   <td><b>Blue-Chip</b></td>\n   <td>7% (unless<b>speculative</b>then<b>2.5%</b>)</td>\n   <td>20% to<b>25%</b></td>\n   <td>30% to<b>35%</b></td>\n   <td>40% to<b>45%</b></td>\n   <td><p>50% to<b>55%</b></p></td>\n  </tr>\n  <tr>\n   <td>10</td>\n   <td>SWAN (a higher caliber of Blue-Chip)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>15% to 20%</td>\n   <td>25% to 30%</td>\n   <td>35% to 40%</td>\n   <td><p>45% to 50%</p></td>\n  </tr>\n  <tr>\n   <td>11</td>\n   <td>Super SWAN (exceptionally dependable blue-chips)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>10% to 15%</td>\n   <td>20% to 25%</td>\n   <td>30% to 35%</td>\n   <td><p>40% to 45%</p></td>\n  </tr>\n  <tr>\n   <td>12</td>\n   <td>Ultra SWAN (as close to perfect companies as exist)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>5% to 10%</td>\n   <td>15% to 20%</td>\n   <td>25% to 30%</td>\n   <td><p>35% to 40%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>What exactly makes Baidu a speculative blue-chip?</p>\n<p><b>Balance Sheet Safety</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating</b></td>\n   <td><b>Dividend Kings Safety Score (75 Safety Metric Model)</b></td>\n   <td><b>Approximate Dividend Cut Risk (Average Recession)</b></td>\n   <td><p><b>Approximate Dividend Cut Risk In Pandemic Level Recession</b></p></td>\n  </tr>\n  <tr>\n   <td>1 (very unsafe)</td>\n   <td>0% to 20%</td>\n   <td>over 4%</td>\n   <td>16+%</td>\n  </tr>\n  <tr>\n   <td>2 (unsafe average)</td>\n   <td>21% to 40%</td>\n   <td>over 2%</td>\n   <td>8% to 16%</td>\n  </tr>\n  <tr>\n   <td>3 (average)</td>\n   <td>41% to 60%</td>\n   <td>2%</td>\n   <td>4% to 8%</td>\n  </tr>\n  <tr>\n   <td><b>4 (safe)</b></td>\n   <td><b>61% to 80%</b></td>\n   <td><b>1%</b></td>\n   <td><b>2% to 4%</b></td>\n  </tr>\n  <tr>\n   <td>5 (very safe)</td>\n   <td>81% to 100%</td>\n   <td>0.5%</td>\n   <td>1% to 2%</td>\n  </tr>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>76%</b></td>\n   <td><b>A stable rating from Fitch, A3 (A- equivalent) stable rating Moody's</b></td>\n   <td><b>0.66% to 2.5% 30-year default/bankruptcy risk</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Long-Term Dependability</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Company</b></td>\n   <td><b>DK Long-Term Dependability Score</b></td>\n   <td><b>Interpretation</b></td>\n   <td><b>Points</b></td>\n  </tr>\n  <tr>\n   <td>S&amp;P 500/Industry Average</td>\n   <td>58%</td>\n   <td>Average Dependability</td>\n   <td>2</td>\n  </tr>\n  <tr>\n   <td>Non-Dependable Companies</td>\n   <td>31% or below</td>\n   <td>Poor Dependability</td>\n   <td>1</td>\n  </tr>\n  <tr>\n   <td>Relatively Dependable Companies</td>\n   <td>32% to 70%</td>\n   <td>Below to Above-Average Dependability</td>\n   <td>2</td>\n  </tr>\n  <tr>\n   <td>Very Dependable Companies</td>\n   <td>71% to 80%</td>\n   <td>Very Dependable</td>\n   <td>3</td>\n  </tr>\n  <tr>\n   <td>Exceptionally Dependable Companies</td>\n   <td>81% or higher</td>\n   <td>Exceptional Dependability</td>\n   <td>4</td>\n  </tr>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>67%</b></td>\n   <td><b>Above-Average Dependability</b></td>\n   <td><b>2</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Overall Quality</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>Final Score</b></td>\n   <td><b>Rating</b></td>\n  </tr>\n  <tr>\n   <td>Safety</td>\n   <td>76%</td>\n   <td>4/5</td>\n  </tr>\n  <tr>\n   <td>Business Model</td>\n   <td>80%</td>\n   <td>3/3</td>\n  </tr>\n  <tr>\n   <td>Dependability</td>\n   <td>67%</td>\n   <td>2/4</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>73%</b></td>\n   <td><b>9/12 Speculative Blue-Chip</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Baidu is the 245th Highest Quality Master List Company (Out of 495) = 49th Percentile</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/927ef17638b4bbf9db4e34f1aeb01a61\" tg-width=\"640\" tg-height=\"241\"><span>(Source: DK Safety &amp; Quality Tool) updated at the end of each day, sorted by overall quality score</span></p>\n<ul>\n <li>green = potentially good buy or better</li>\n <li>blue = potentially reasonable buy</li>\n <li>yellow = hold</li>\n <li>red = potential trim/sell</li>\n</ul>\n<p>BIDU's 73% quality score means it's the 245th highest quality company on the DK 500 Master List. This list includes the world's highest quality companies including</p>\n<ul>\n <li>all dividend champions</li>\n <li>all dividend aristocrats</li>\n <li>all dividend kings</li>\n <li>all 12/12 Ultra SWANs (as close to perfect quality as exists on Wall Street, think wide moat aristocrats)</li>\n <li>numerous global aristocrats (such as BTI, ENB, and NVS)</li>\n</ul>\n<p>BIDU is about average quality compared to the world's elite companies and similar in quality to such 9/12 blue-chips and, 10/12 SWANs, as</p>\n<ul>\n <li>Qualcomm (QCOM)</li>\n <li>Becton, Dickinson and Company (BDX) - dividend aristocrat</li>\n <li>W. P. Carey (WPC)</li>\n <li>Sonoco Products (SON) - dividend champion</li>\n <li>H.B. Fuller (FUL) - dividend king</li>\n <li>MetLife (MET)</li>\n <li>Digital Realty Trust (DLR)</li>\n <li>Leggett &amp; Platt (LEG) - dividend aristocrat</li>\n <li>V.F. Corp (VFC) - dividend aristocrat</li>\n <li>Bank of New York Mellon (BK)</li>\n</ul>\n<p>Baidu has a strong cash-rich balance sheet, though it is taking on extra leverage in order to fund its ambitious growth efforts.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d4c7bc8d9da039967a0ce9e435f7b6eb\" tg-width=\"449\" tg-height=\"462\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Including leasing expenses, BIDU has 2X as much cash as debt.</p>\n<p>Fitch and Moody's rate Baidu A stable and A3 (A- equivalent) stable outlooks, indicating 0.66% to 2.5% 30-year default/bankruptcy risk.</p>\n<p>Analysts expect much higher spending in the short-term to cause leverage to increase, though rating agencies don't expect this to be permanent.</p>\n<p>The key safety ratios with Baidu are the F, Z, and M scores, advanced accounting ratios created by leading research institutions that use asset ratios scanned from quarterly filings.</p>\n<ul>\n <li>F-score measures short-term bankruptcy risk</li>\n <li>Z-score measures 2-year bankruptcy risk (with 84% to 92% historical accuracy)</li>\n <li>M-score measures accounting fraud risk (with 76% historical accuracy)</li>\n</ul>\n<p>7/9 is very safe on the F-score = very low short-term bankruptcy risk.</p>\n<p>3.59 vs 3+ very safe and 9.51 historical, confirms the A-credit ratings and low long-term risk of losing all your money.</p>\n<p>And the M-score of -2.42 indicates a significantly less than 17.5% probability that Baidu is cooking its books.</p>\n<p><img src=\"https://static.tigerbbs.com/0593cdfc392caf38a9d7ca42c482c359\" tg-width=\"640\" tg-height=\"245\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6110ac3a73c5c935e0778da21e6eb62e\" tg-width=\"640\" tg-height=\"297\"><span>(Source: Gurufocus)</span></p>\n<p>BIDU's historically unsafe M-score has been improving and became safe at the end of 2014 and has remained so for the last seven years.</p>\n<ul>\n <li>its safety and quality score still get dinged though because we factor in every important metric so we don't miss any warning signs</li>\n</ul>\n<p>The M-score is 76% historically accurate at catching accounting fraud and 82.5% accurate at finding companies with honest accounting.</p>\n<p>Combined with its credit ratings and risk ratings from 5 different rating agencies, plus its auditors, I can say with relatively high confidence that Baidu is not the next Luckin Coffee.</p>\n<p>Quality is a proven alpha factor, one of seven that beats the market over the long term.</p>\n<p><img src=\"https://static.tigerbbs.com/d4868372d29cef8d5b07fc5a538fb58e\" tg-width=\"640\" tg-height=\"273\"></p>\n<p>On Wall Street, profitability over time is the most accurate proxy for quality.</p>\n<ul>\n <li>credit ratings are one of the best qualitative quality proxies</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b0c8a6a2913d554a5c9780f869d7a887\" tg-width=\"445\" tg-height=\"430\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Baidu's profitability is historically in the top 20% of its peers, confirming a wide and stable moat.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>Industry Percentile</b></td>\n   <td><b>Major Interactive Media Companies More Profitable Than BIDU (Out of 543)</b></td>\n  </tr>\n  <tr>\n   <td>Operating Margin</td>\n   <td>67.35</td>\n   <td>177</td>\n  </tr>\n  <tr>\n   <td>Net Margin</td>\n   <td>81.26</td>\n   <td>102</td>\n  </tr>\n  <tr>\n   <td>Return On Equity</td>\n   <td>67.86</td>\n   <td>175</td>\n  </tr>\n  <tr>\n   <td>Return On Assets</td>\n   <td>68.47</td>\n   <td>171</td>\n  </tr>\n  <tr>\n   <td>Return On Capital</td>\n   <td>69.61</td>\n   <td>165</td>\n  </tr>\n  <tr>\n   <td><b>Average</b></td>\n   <td><b>70.91</b></td>\n   <td><b>158</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: Gurufocus Premium)</i></p>\n<p>Over the last year, increased growth spending has reduced profitability to the top 29% of peers, though that's expected to recover in the future.</p>\n<ul>\n <li>for example, returns on equity are expected to rise 10% by 2024</li>\n</ul>\n<p>Joel Greenblatt defined quality by return on capital, his gold standard proxy for quality and moatiness.</p>\n<ul>\n <li>operating income (EBIT)/operating capital (the money it takes to run the business for a year)</li>\n</ul>\n<p>Greenblatt's entire legendary track record, 40% annual returns for 21 years, was done by combining high ROC with low valuations.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5d43fa9d5032a24362f75054f2a9e93\" tg-width=\"640\" tg-height=\"292\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Even with heavy growth spending in recent years, Baidu's returns on capital are very impressive.</p>\n<p>The average Master List company has 88% ROC.</p>\n<p>The average aristocrat 83%.</p>\n<p>The average Ultra SWAN 87%.</p>\n<p>Over the past year, BIDU's ROC has been 103% and in Q4 it was 95%.</p>\n<p>Analysts expect that in the next few years, ROC will revert back to its historical 205%.</p>\n<p>A level of profitability that, according to Joel Greenblatt, would make BIDU one of the highest quality companies in the world.</p>\n<p>Baidu's future growth is expected to come from aggressive investments into driverless cars (long-term) and AI and streaming in the short and medium term.</p>\n<p><b>Baidu Growth Spending Consensus Forecast</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>SG&amp;A</b></td>\n   <td><b>R&amp;D</b></td>\n   <td><b>Capex</b></td>\n   <td><b>Total Growth Spending</b></td>\n   <td><b>Sales</b></td>\n   <td><p><b>Growth Spending/Sales</b></p></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>$2,792</td>\n   <td>$3,016</td>\n   <td>$993</td>\n   <td>$4,009</td>\n   <td>$16,548</td>\n   <td>24.23%</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>$3,574</td>\n   <td>$3,554</td>\n   <td>$1,893</td>\n   <td>$5,447</td>\n   <td>$19,517</td>\n   <td>27.91%</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>$3,974</td>\n   <td>$4,062</td>\n   <td>$2,220</td>\n   <td>$6,282</td>\n   <td>$22,235</td>\n   <td>28.25%</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>$5,049</td>\n   <td>$5,858</td>\n   <td>$2,719</td>\n   <td>$8,577</td>\n   <td>$25,258</td>\n   <td>33.96%</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>$1,504</td>\n   <td>NA</td>\n   <td>$30,071</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>2025</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>2026</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>21.83%</b></td>\n   <td><b>24.77%</b></td>\n   <td><b>10.94%</b></td>\n   <td><b>28.85%</b></td>\n   <td><b>16.10%</b></td>\n   <td><b>NA</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Historically Baidu spends about 17% of its revenue on growth. By 2023 that's expected to double.</p>\n<p>Total growth spending is expected to grow at almost 30% annually for the next three years.</p>\n<p>Baidu Consensus Profit Forecast</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>Sales</b></td>\n   <td><b>FCF</b></td>\n   <td><b>EBITDA</b></td>\n   <td><b>EBIT (Operating Income)</b></td>\n   <td><b>Net Income</b></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>$16,548</td>\n   <td>$2,106</td>\n   <td>$4,251</td>\n   <td>$2,216</td>\n   <td>$3,473</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>$19,517</td>\n   <td>$3,947</td>\n   <td>$4,734</td>\n   <td>$2,629</td>\n   <td>$2,760</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>$22,235</td>\n   <td>$5,013</td>\n   <td>$5,812</td>\n   <td>$3,400</td>\n   <td>$3,381</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>$25,258</td>\n   <td>$5,854</td>\n   <td>$6,730</td>\n   <td>$4,163</td>\n   <td>$4,226</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>$30,071</td>\n   <td>$7,421</td>\n   <td>NA</td>\n   <td>$6,195</td>\n   <td>$5,268</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>16.10%</b></td>\n   <td><b>37.01%</b></td>\n   <td><b>16.55%</b></td>\n   <td><b>29.31%</b></td>\n   <td><b>10.98%</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Management's guidance, which is the basis for these consensus forecasts, is for strong revenue growth. Net margins are expected to compress but cash flows are expected to soar.</p>\n<p>Free cash flow, the ultimate source of all intrinsic value according to Ben Graham and Warren Buffett, is expected to more than triple by 2024.</p>\n<p>Baidu Consensus Margin Forecast</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>FCF Margin</b></td>\n   <td><b>EBITDA Margin</b></td>\n   <td><b>EBIT (Operating) Margin</b></td>\n   <td><b>Net Margin</b></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>12.7%</td>\n   <td>25.7%</td>\n   <td>13.4%</td>\n   <td>21.0%</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>20.2%</td>\n   <td>24.3%</td>\n   <td>13.5%</td>\n   <td>14.1%</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>22.5%</td>\n   <td>26.1%</td>\n   <td>15.3%</td>\n   <td>15.2%</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>23.2%</td>\n   <td>26.6%</td>\n   <td>16.5%</td>\n   <td>16.7%</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>24.7%</td>\n   <td>NA</td>\n   <td>20.6%</td>\n   <td>17.5%</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>18.01%</b></td>\n   <td><b>1.23%</b></td>\n   <td><b>11.37%</b></td>\n   <td><b>-4.42%</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Baidu's profitability is ultimately expected to improve, though net margins won't until its major growth initiatives are over.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee8691866fef56c1dd17062657e10811\" tg-width=\"640\" tg-height=\"320\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU ended 2020 with $5.6 billion in cash, and that's expected to rise to $22 billion by 2023, and potentially nearly $60 billion by 2024.</p>\n<p>That may not be as impressive as some tech companies ($601 billion by 2026 for Amazon), but it does mean that Baidu's war chest and financial flexibility to pivot towards AI, driverless cars, and streaming will grow significantly in future years.</p>\n<p>Baidu Medium-Term Growth Consensus</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>2020 Actual Growth</b></td>\n   <td><b>2021 consensus growth</b></td>\n   <td><b>2022 consensus growth</b></td>\n   <td><p><b>2023 consensus growth</b></p></td>\n  </tr>\n  <tr>\n   <td>EPS</td>\n   <td>31%</td>\n   <td>7%</td>\n   <td>18%</td>\n   <td>16%</td>\n  </tr>\n  <tr>\n   <td>Owner Earnings (Buffett smoothed out FCF)</td>\n   <td>124%</td>\n   <td>22%</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>Operating Cash Flow</td>\n   <td>-14%</td>\n   <td>59%</td>\n   <td>31%</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td>Free cash flow</td>\n   <td>96%</td>\n   <td>85%</td>\n   <td>22%</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>EBITDA</td>\n   <td>-18%</td>\n   <td>53%</td>\n   <td>27%</td>\n   <td>24%</td>\n  </tr>\n  <tr>\n   <td>EBIT (operating income)</td>\n   <td>130%</td>\n   <td>26%</td>\n   <td>26%</td>\n   <td>19%</td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: F.A.S.T. Graphs, FactSet Research)</i></p>\n<p>In the next few years, Baidu's growth efforts are expected to result in strong growth. But what's attracted me to the Google of China, is that this hyper-growth is expected to continue for many years to come.</p>\n<p><b>Reason 2: Long-Term Hyper-Growth Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bdfa536609dc32efe57d7af85154ddbf\" tg-width=\"640\" tg-height=\"412\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU's AI, streaming, and driverless car investments are showing up in \"other services\" and that revenue is expected to grow almost 50% in 3 years.</p>\n<p><img src=\"https://static.tigerbbs.com/d0a582df968d9cfaf4a09f2f2984f522\" tg-width=\"640\" tg-height=\"373\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72ab775d253a2fbce4a1a5001922e0b8\" tg-width=\"640\" tg-height=\"394\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<ul>\n <li>16.0% to 17.5% long-term growth consensus range</li>\n <li>6% to 28% growth consensus range adjusted for historical margin of error</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/6ae4ef54819e7f58c95b2f21ced20393\" tg-width=\"640\" tg-height=\"336\"><img src=\"https://static.tigerbbs.com/705d5218e7d882c4c52948d4f47fbb5e\" tg-width=\"640\" tg-height=\"341\"></p>\n<p>The margins of error on BIDU forecasts are very wide. 33% of the time it grows much faster than expected, 33% of the time much slower, and 33% of the about as fast as expected.</p>\n<ul>\n <li>margins of error over the last decade (excluding outliers) are 60% to the downside, 55% to the upside</li>\n <li>the long-term growth consensus range: 16% to 18% CAGR</li>\n <li>the margin of error adjusted long-term analyst growth consensus range: 6% to 28% CAGR</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/73c38a8847c12ffd67928559c978ff18\" tg-width=\"640\" tg-height=\"407\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>BIDU's historical growth is from -9% to 52%. So relatively high growth uncertainty, more so than most tech blue-chips.</p>\n<ul>\n <li>and thus the $650 investment vs $10K in GOOG, $89K in BABA, and $200K in Amazon</li>\n</ul>\n<p>However, analysts expect growth to be similar to the 20% growth of the last decade.</p>\n<p>And at today's high margin of safety, we're likely getting a good deal to compensate for BIDU's growth uncertainty and complex risk profile.</p>\n<p><b>Reason 3: Highly Attractive Valuation</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f3ad1e7e41458b1bdc4f379d7917692\" tg-width=\"640\" tg-height=\"414\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>BIDU growing at the rates analysts expect in the future has historically been valued at 23X to 26X earnings.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbd2ab20e70f34f53bc7768feb9b6a24\" tg-width=\"640\" tg-height=\"334\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU is currently trading at 20.4X forward earnings and 13.6X EV/EBITDA.</p>\n<p>EV/EBITDA is market cap + net debt/EBITDA and is Joel Greenblatt's and private equity's favorite valuation metric.</p>\n<p>Baidu's 13-year median EV/EBITDA is 23.2, and its trading at 13.6, implying a potential 42% discount to fair value.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>Historical Fair Value (12-years)</b></td>\n   <td><b>2020</b></td>\n   <td><b>2021</b></td>\n   <td><b>2022</b></td>\n   <td><b>2023</b></td>\n  </tr>\n  <tr>\n   <td>Earnings</td>\n   <td>25.0</td>\n   <td>$243.87</td>\n   <td>$261.27</td>\n   <td>$307.91</td>\n   <td>$357.77</td>\n  </tr>\n  <tr>\n   <td>Owner Earnings (Buffett smoothed out FCF) - 10 yr</td>\n   <td>23.5</td>\n   <td>$324.46</td>\n   <td>$394.46</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>Operating Cash Flow</td>\n   <td>19.9</td>\n   <td>$202.33</td>\n   <td>$321.22</td>\n   <td>$420.37</td>\n   <td>$448.64</td>\n  </tr>\n  <tr>\n   <td>Free Cash Flow (11-yr)</td>\n   <td>27.5</td>\n   <td>$220.77</td>\n   <td>$408.53</td>\n   <td>$497.28</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>EBITDA</td>\n   <td>22.0</td>\n   <td>$190.60</td>\n   <td>$291.18</td>\n   <td>$370.80</td>\n   <td>$459.36</td>\n  </tr>\n  <tr>\n   <td>EBIT (operating income)</td>\n   <td>34.5</td>\n   <td>$207.78</td>\n   <td>$261.14</td>\n   <td>$328.78</td>\n   <td>$392.83</td>\n  </tr>\n  <tr>\n   <td><b>Average</b></td>\n   <td><b>$224.60</b></td>\n   <td><b>$312.71</b></td>\n   <td><b>$373.81</b></td>\n   <td><b>$410.40</b></td>\n  </tr>\n  <tr>\n   <td>Current Price</td>\n   <td>$215.83</td>\n  </tr>\n  <tr>\n   <td><p><b>Discount To Fair Value</b></p></td>\n   <td><b>3.91%</b></td>\n   <td><b>30.98%</b></td>\n   <td><b>42.26%</b></td>\n   <td><b>47.41%</b></td>\n  </tr>\n  <tr>\n   <td><i><b>Upside To Fair Value</b></i></td>\n   <td><i><b>4%</b></i></td>\n   <td><i><b>45%</b></i></td>\n   <td><i><b>73%</b></i></td>\n   <td><i><b>90%</b></i></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: F.A.S.T. Graphs, FactSet Research)</i></p>\n<p>BIDU is about 31% historically undervalued right now, meaning that if it grows as expected through 2023 and returns to fair value that's 90% upside potential.</p>\n<ul>\n <li>$350 is the median 12-month price target</li>\n <li>65% upside potential over the next 12 months according to analysts</li>\n</ul>\n<p>And that guestimate is 100% justified by fundamentals.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating</b></td>\n   <td><b>Margin Of Safety For Speculative 9/12 Blue-Chip Quality Companies</b></td>\n   <td><b>2020 Price</b></td>\n   <td><b>2021 Price</b></td>\n   <td><b>2022 Price</b></td>\n  </tr>\n  <tr>\n   <td>Potentially Reasonable Buy</td>\n   <td>0%</td>\n   <td>$224.60</td>\n   <td>$312.71</td>\n   <td>$373.81</td>\n  </tr>\n  <tr>\n   <td><b>Potentially Good Buy</b></td>\n   <td><b>25%</b></td>\n   <td><b>$168.45</b></td>\n   <td><b>$234.53</b></td>\n   <td><b>$280.35</b></td>\n  </tr>\n  <tr>\n   <td>Potentially Strong Buy</td>\n   <td>35%</td>\n   <td>$145.99</td>\n   <td>$203.26</td>\n   <td>$242.97</td>\n  </tr>\n  <tr>\n   <td>Potentially Very Strong Buy</td>\n   <td>45%</td>\n   <td>$123.53</td>\n   <td>$171.99</td>\n   <td>$205.59</td>\n  </tr>\n  <tr>\n   <td>Potentially Ultra-Value Buy</td>\n   <td>55%</td>\n   <td>$101.07</td>\n   <td>$140.72</td>\n   <td>$168.21</td>\n  </tr>\n  <tr>\n   <td><b>Currently</b></td>\n   <td><b>$213.41</b></td>\n   <td><b>5%</b></td>\n   <td><b>32%</b></td>\n   <td><b>43%</b></td>\n  </tr>\n  <tr>\n   <td><p>Upside To Fair Value (Not Including Dividends)</p></td>\n   <td>5%</td>\n   <td>47%</td>\n   <td>75%</td>\n  </tr>\n </tbody>\n</table>\n<p>At a 32% margin of safety, Baidu, despite all its risks, is a potentially good buy for more risk-tolerant investors.</p>\n<p>But the ability to potentially enjoy monster short-term gains is just the cherry on top with Baidu.</p>\n<p><b>Reason 4: Eye-Popping Long-Term Return Potential</b></p>\n<p>Here is a reasonable idea of what kind of returns you can expect buying BIDU today.</p>\n<p><b>Baidu 2023 Consensus Return Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15f5606b2eaa042608497f68998a69cc\" tg-width=\"640\" tg-height=\"385\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>If BAIDU grows as analysts expect through 2023, and returns to historical fair value, then analysts expect</p>\n<ul>\n <li>75% total returns</li>\n <li>23.3% CAGR returns</li>\n <li>vs -1.3% CAGR S&amp;P 500</li>\n</ul>\n<p>From its 31% discount, BIDU has the potential to outperform the 36% overvalued S&amp;P 500 by 78% over the next three years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7be8ed919f810734d99f50b4b14741dd\" tg-width=\"640\" tg-height=\"405\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>Corporate earnings growth estimates are rising by the day. Yet the market has already priced in three years of earnings growth totaling 62% or 17.4% CAGR.</p>\n<p>Over the long term, BIDU's return outlook is also very strong.</p>\n<p><b>Baidu 2026 Consensus Return Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9aef71a5e564b122341a52dec05bb34\" tg-width=\"640\" tg-height=\"405\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>If BIDU grows as analysts expect through 2026 and returns to historical fair value you could expect</p>\n<ul>\n <li>179% total returns</li>\n <li>19.8% CAGR</li>\n <li>vs 4.5% CAGR S&amp;P 500</li>\n <li><i><b>4.4X better than the market's consensus return potential</b></i></li>\n</ul>\n<p>If BIDU delivers as analysts expect, then buying today could almost triple your money in the next five years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/935c135e000c240df768640b47826e5c\" tg-width=\"640\" tg-height=\"453\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>Over the long term, analysts expect</p>\n<ul>\n <li>0% yield + 17.5% growth = 17.5% CAGR very long-term total returns (after valuation changes cancel out)</li>\n <li>6% to 28% CAGR range</li>\n <li>vs 7.8% for the S&amp;P and 10.8% for the dividend aristocrats</li>\n</ul>\n<p><b>Baidu Total Returns Since 2006</b></p>\n<p><img src=\"https://static.tigerbbs.com/cfe7969e52431f689a9737c4c48401e1\" tg-width=\"640\" tg-height=\"124\"><img src=\"https://static.tigerbbs.com/08f72f9d45d8f32d950ea367c84cb531\" tg-width=\"640\" tg-height=\"297\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/40bd03cb49698c42f76664151bd05cf5\" tg-width=\"640\" tg-height=\"298\"><span>(Source: Portfolio Visualizer)</span></p>\n<p>In the last 15 years, BIDU has turned $1 into $26, adjusted for inflation, and crushed the market with 8X more wealth compounding.</p>\n<p>It's expected to grow slightly slower than in the past, but the ability to potentially enjoy 17.5% hyper-growth for many years is incredibly attractive.</p>\n<p><b>Baidu Vs S&amp;P 500 Vs Dividend Aristocrat Inflation-Adjusted Total Return Forecast: $650 Initial Investment</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Time Frame (Years)</b></td>\n   <td><b>5.8% LT Inflation-Adjusted Returns (S&amp;P Consensus)</b></td>\n   <td><b>8.8% Inflation-Adjusted Returns (aristocrat consensus)</b></td>\n   <td><b>15.5% Inflation-Adjusted Returns (BIDU consensus)</b></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>$1,325.65</td>\n   <td>$1,524.56</td>\n   <td>$1,336.05</td>\n  </tr>\n  <tr>\n   <td><b>10</b></td>\n   <td><b>$1,757.34</b></td>\n   <td><b>$2,324.28</b></td>\n   <td><b>$2,746.21</b></td>\n  </tr>\n  <tr>\n   <td>15</td>\n   <td>$2,329.62</td>\n   <td>$3,543.51</td>\n   <td>$5,644.73</td>\n  </tr>\n  <tr>\n   <td>20</td>\n   <td>$3,088.26</td>\n   <td>$5,402.29</td>\n   <td>$11,602.54</td>\n  </tr>\n  <tr>\n   <td>25</td>\n   <td>$4,093.94</td>\n   <td>$8,236.11</td>\n   <td>$23,848.60</td>\n  </tr>\n  <tr>\n   <td><b>30</b></td>\n   <td><b>$5,427.13</b></td>\n   <td><b>$12,556.45</b></td>\n   <td><b>$49,019.95</b></td>\n  </tr>\n  <tr>\n   <td>35</td>\n   <td>$7,194.46</td>\n   <td>$19,143.06</td>\n   <td>$100,758.76</td>\n  </tr>\n  <tr>\n   <td>40</td>\n   <td>$9,537.33</td>\n   <td>$29,184.74</td>\n   <td>$207,106.02</td>\n  </tr>\n  <tr>\n   <td>45</td>\n   <td>$12,643.14</td>\n   <td>$44,493.88</td>\n   <td>$425,699.02</td>\n  </tr>\n  <tr>\n   <td><b>50</b></td>\n   <td><b>$16,760.36</b></td>\n   <td><b>$67,833.58</b></td>\n   <td><b>$875,009.10</b></td>\n  </tr>\n </tbody>\n</table>\n<p>The ability to grow 2X to 3X as fast as the S&amp;P 500 or aristocrats creates the potential for wealth compounding on a massive scale. Look at how large my $650 initial BIDU investment can grow, assuming analysts are right and management delivers the expected growth over time.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Time Frame (Years)</b></td>\n   <td><b>Ratio S&amp;P vs Aristocrat Consensus</b></td>\n   <td><b>Ratio S&amp;P vs BIDU consensus</b></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>1.15</td>\n   <td>1.01</td>\n  </tr>\n  <tr>\n   <td><b>10</b></td>\n   <td><b>1.32</b></td>\n   <td><b>1.56</b></td>\n  </tr>\n  <tr>\n   <td>15</td>\n   <td>1.52</td>\n   <td>2.42</td>\n  </tr>\n  <tr>\n   <td>20</td>\n   <td>1.75</td>\n   <td>3.76</td>\n  </tr>\n  <tr>\n   <td>25</td>\n   <td>2.01</td>\n   <td>5.83</td>\n  </tr>\n  <tr>\n   <td><b>30</b></td>\n   <td><b>2.31</b></td>\n   <td><b>9.03</b></td>\n  </tr>\n  <tr>\n   <td>35</td>\n   <td>2.66</td>\n   <td>14.01</td>\n  </tr>\n  <tr>\n   <td>40</td>\n   <td>3.06</td>\n   <td>21.72</td>\n  </tr>\n  <tr>\n   <td>45</td>\n   <td>3.52</td>\n   <td>33.67</td>\n  </tr>\n  <tr>\n   <td><b>50</b></td>\n   <td><b>4.05</b></td>\n   <td><b>52.21</b></td>\n  </tr>\n </tbody>\n</table>\n<p>Over the long term, the aristocrats are expected to quadruple the S&amp;P 500's wealth compounding. Baidu could potentially deliver 52X as much wealth as the S&amp;P 500.</p>\n<p>Is Baidu likely to grow 17.5% for 50 years? Probably not. But even if it can deliver just 10 to 20 years of hyper-growth, when combined with its attractive current valuation, that's worthy of a small initial investment in my book.</p>\n<p><b>Risk Profile: Why Baidu Isn't Right For Everyone</b></p>\n<p>There are no risk-free companies and no company is right for everyone. You have to be comfortable with the fundamental risk profile.</p>\n<p><b>Fundamental Risk Summary</b></p>\n<blockquote>\n We think Baidu faces high levels of risk, given intense competition along with questions as to whether its AI-related investment will generate satisfactory returns.\n</blockquote>\n<blockquote>\n Though Baidu is the largest search engine in China, it is competing with the other two Internet giants, Tencent and Alibaba, and Google’s potential return to the Chinese search market is also a threat.\n</blockquote>\n<blockquote>\n Regarding the search engine business, Tencent invested in Sogou, and Alibaba acquired UC Web, which owns a mobile search engine, Shenma. Competition has extended to each key area of mobile Internet usage, such as navigation, O2O services, online video services, and so on. Baidu’s margins have been significantly dragged down by aggressive spending in video content and O2O marketing but recovered to 18.5% in 2017 from 14.2% in 2016 as Baidu divested margin-dilutive businesses.\n</blockquote>\n<blockquote>\n The major Internet companies in China have been investing in AI-related business, such as cloud computing, voice and image recognition, and autonomously driven cars. At the current stage,\n <b>it is difficult to predict whether Baidu will be the final winner in AI and whether the returns will reward its investment.</b>\n</blockquote>\n<blockquote>\n In addition, regulatory risk is a concern. Following the Wei Zexi incident in early 2016, Chinese authorities launched new regulations for online search and advertising, which clearly defined paid search results as advertising. These regulations took effect on Sept. 1, 2016. Given stricter standards for online advertisers, Baidu’s online marketing services revenue growth declined to 1% in 2016. If the local authorities release more policies regarding Internet business, such as online advertising and online finance, Baidu’s revenue could be negatively affected.\n</blockquote>\n<blockquote>\n Since 2017, Baidu has discontinued the disclosure of MAUs for its mobile search and mobile maps, which is possibly due to weaker numbers.\" - Morningstar\n</blockquote>\n<p>BIDU's pivot into the technology of the future is potentially like Satya Nadella taking MSFT into the pure cloud-driven strategy.</p>\n<p>Or it could be like IBM's Watson-based flaying, major promise but poor execution over time.</p>\n<blockquote>\n Baidu has the urgency to strengthen its mobile business because it has not developed another industry-leading business other than its mobile search app for years.\n</blockquote>\n<blockquote>\n Baidu’s share of mobile time spend reduced to 6.9% in March 2019 from 7.3% year over year. Baidu positions its flagship Baidu app (173 million daily average users in March 2019) as a \"super\" app that can serve a wide range of users' needs, such as reading, watching videos, shopping, transportation tickets, food services, and so on, but we believe the app is less of a super app compared with Tencent’s Wechat (1.1 billion monthly average users).\n</blockquote>\n<blockquote>\n It has copied the strategies of its peers by launching a mini-program (181 million MAU in March 2019) and short video apps (sevenfold year over year increase to 98 million MAU in March 2019 as per Questmobile).\" - Morningstar\n</blockquote>\n<p>Baidu has struggled more than most Chinese tech giants to pivot and adapt to the disruption risk that is ever-present in this industry.</p>\n<blockquote>\n We have not factored in the meaningful commercialization of Baidu’s AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo and artificial intelligence cloud services.\n</blockquote>\n<blockquote>\n <b>Search is driven by an artificial intelligence-powered algorithm, giving Baidu a good foundation in this segment.</b>Baidu is also\n <b>one of the largest and earliest companies to start AI investments in China.</b>Currently, Baidu uses AI to recommend feeds to the app’s users to generate advertising revenue.\n</blockquote>\n<blockquote>\n IQiyi, Baidu’s online video platform, has been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on&nbsp;\n <b>iQiyi. It accounted for 29% of Baidu’s revenue in the first quarter of 2019.</b>\n</blockquote>\n<blockquote>\n In the near term, Baidu will invest heavily in its mobile business in terms of sales and marketing, and traffic acquisition. While meaningful monetization is uncertain, we expect Baidu to increase or maintain its research and development expenditure, which is at 17% of sales in the first quarter of 2019. To fend off major competitor Tencent Video, iQiyi needs to continue to invest in premium content. Therefore, we expect Baidu’s margins to be under pressure in the near term.\" - Morningstar\n</blockquote>\n<p>But while Baidu has made some questionable investments over the years, its current focus on AI is a logical and prudent one.</p>\n<p>Baidu's competitive advantage in AI stems from being the first mover in Chinese search. It has the most data to feed into its machine learning algorithms, though rivals like Alibaba (BABA) and Tencent (OTCPK:TCEHY) are working hard to eat its lunch.</p>\n<blockquote>\n Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for&nbsp;seven straight quarters.\n</blockquote>\n<blockquote>\n That ongoing slowdown is troubling since Baidu's advertising rivals -- like&nbsp;\n <b>Tencent</b>&nbsp;and&nbsp;\n <b>Bilibili --</b>both expanded&nbsp;their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\" - Leo Sun,Motley Fool\n</blockquote>\n<p>In recent years, BIDU's market share in digital ads has been declining, which means unlike companies like JD, BABA, and TCEHY, it's attempting to pivot from a position of weakness, not strength.</p>\n<p>It has the resources to invest heavily and hopefully achieve the kinds of impressive growth rates analysts expect. But success is far from guaranteed.</p>\n<p>This is why I've bought a starter 3 share tracking position in Baidu.</p>\n<ul>\n <li>compared to a $10,000 position in Alphabet (GOOG)</li>\n <li>and an&nbsp;$89,000 investment into Alibaba</li>\n <li>and a&nbsp;$200,000 investment into Amazon(AMZN)</li>\n</ul>\n<p>And of course, we can't forget about the risks surrounding management and governance.</p>\n<blockquote>\n Robin Yanhong Li, the founder of Baidu, has been the chairman of the board since its inception and has served as the CEO since 2004. Before that, Li worked at IDD Information Services and Infoseek in Silicon Valley, with a special focus on product development in Internet search engines. Li owned 16.4% of the company as of January 2020, and all directors and management together owned 16.5%. Jennifer Xinzhe Li stepped down as CFO in 2017 and was replaced by Herman Yu, formerly of Weibo...\n</blockquote>\n<blockquote>\n Baidu had reputational issues, with the Wei Zexi medical incident being the largest scandal, which led to a management restructuring in 2016. Three vice presidents were dismissed. Qi Lu joined Baidu in January 2017 as group president and COO but resigned in June 2018. Lu has a solid record in the U.S. technology industry, and Baidu’s financial performance substantially improved during his appointment.\n</blockquote>\n<blockquote>\n This incident once again raised the market’s concern about Baidu’s turnover of key executives, including ex-chief scientist Andrew Ng and ex-senior vice president Jin Wang. In May 2019, Baidu announced the departure of senior vice president Hailong Xiang, who had been with Baidu since 2005. His departure is believed to be a result of Baidu’s inability to develop another successful and profitable business outside of search.\n</blockquote>\n<blockquote>\n The introduction of a senior management retirement plan and a young leadership development program signifies Baidu’s determination to revamp its management and reinvigorate its businesses in the new Internet era. Shen Dou leads the mobile ecosystem group now. He has a technical background and puts more focus on more user experience versus maximizing sales. There are now more interactions between the sales, commercial product team, and the user experience team, which we think is better for Baidu’s sustainability.\" - Morningstar\n</blockquote>\n<p>Unlike the management at Tencent, which Morningstar considers \"exemplary\" or the \"deep bench\" at Alibaba, BIDU has struggled with management in recent years.</p>\n<blockquote>\n B shares, which are owned by the CEO and his affiliates, have 10 times the voting rights of Class A shares. Therefore,\n <b>Li controls 55.4% of the equity voting rights</b>&nbsp;as of January 2020.As a result, these Class B shareholders have a disproportionately large influence over key matters such as the election of directors and significant corporate transactions, including mergers and the sale of the company or assets.\" - Morningstar\n</blockquote>\n<p>BIDU's founder and CEO controls 55% of the vote and thus is effectively king of Baidu. If shareholders don't like what management does, they have no recourse other than selling.</p>\n<p>Management isn't a poor capital allocator, but in recent years it hasn't been firing on all cylinders when it comes to pivoting to growth catalysts as easily as JD, BABA, and TCEHY have.</p>\n<blockquote>\n Some of Baidu’s acquisitions and new business developments have proved unsuccessful.\n</blockquote>\n<blockquote>\n These include the acquisition of 59% of Nuomi, a group-buying service provider, for $160 million in 2013 and the remaining stake in 2014 for an undisclosed sum, and Raven Tech for $90 million in 2017...\n</blockquote>\n<blockquote>\n Baidu’s investments in online-to-offline businesses such as deliveries and Nuomi led to its&nbsp;\n <b>operating margin declining from 26.1% in 2014 to 14.2% in 2016</b>&nbsp;but they did not gain as much scale as Meituan.\n</blockquote>\n<blockquote>\n However, we refrain from giving a Poor stewardship rating to Baidu for several reasons.\n</blockquote>\n<blockquote>\n <b>Baidu made the right decision in moving away from the O2O businesses, which led to margin improvement to 18.5% in 2017</b>and investing in mobile and AI, which we believe is sensible given that they complement its strong core search business.\n</blockquote>\n<blockquote>\n Also, Baidu’s return on invested capital has been way higher than its weighted average cost of capital of 9.8% over the past 10 years.\" - Morningstar\n</blockquote>\n<p>And of course, every investor in Chinese tech has to understand VIE regulatory risk.</p>\n<blockquote>\n Like many other Chinese Internet companies listed in overseas markets, Baidu operates under a&nbsp;\n <b>variable interest entity structure</b>&nbsp;designed to let companies bypass Chinese legal restrictions on foreign ownership in certain sectors.\n</blockquote>\n<blockquote>\n Baidu's foreign investors essentially hold shares of Baidu's VIE domiciled in the Cayman Islands.\n <b>We don't expect any legal challenges to VIE structures by the Chinese government</b>&nbsp;and believe that Baidu will consider a China depositary receipt listing in the future.\n</blockquote>\n<blockquote>\n However, if the legitimacy of Baidu's related VIE is found to violate applicable law or regulation, Chinese regulatory authorities might take action, including revoking the business and operating licenses of Baidu's subsidiaries or the VIE, or discontinuing, restricting, or restructuring Baidu's operations.\n</blockquote>\n<blockquote>\n Since the Chinese Ministry of Commerce has the jurisdiction to regulate VIEs,\n <b>we believe overseas investors would have limited legal rights</b>.\" - Morningstar\n</blockquote>\n<p>VIE regulatory risk is the reason that all Chinese tech stocks are speculative, and always will be, regardless of quality (Tencent is a 12/12 speculative Ultra SWAN for this reason).</p>\n<p>How do you measure and factor in such a complex risk profile?</p>\n<p>By turning to the expert consensus.</p>\n<ul>\n <li>39 analysts that cover BIDU and collectively know it better than anyone other than management</li>\n <li>and whether or not scary headlines meaningfully alter the investment thesis</li>\n <li>2 credit rating agencies</li>\n <li>3 ESG risk rating agencies</li>\n <li>44 total experts that monitor BIDU's risk profile for DK and will let us know if the thesis is weakening, strengthening or breaks</li>\n</ul>\n<p><b>ESG Material Financial Risk Analysis</b></p>\n<p><b>Essential To Fully Understanding A Company's Overall Risk Profile Especially Chinese Tech Companies</b></p>\n<p>According to the world's best risk assessors, ESG metrics are a critical component of a company's overall risk profile. Here's who considers ESG important and builds it into their safety models and ratings.</p>\n<ul>\n <li><p>BlackRock - #1 asset manager in the world</p></li>\n <li><p>MSCI - #1 indexing giant</p></li>\n <li><p>Morningstar</p></li>\n <li><p>Reuters'/Refinitiv</p></li>\n <li><p>ISS (Institutional Shareholder Services) - #1 corporate proxy firm on earth</p></li>\n <li><p>S&amp;P</p></li>\n <li><p>Fitch</p></li>\n <li><p>Moody's</p></li>\n <li><p>DBRS (Canadian credit rating agency)</p></li>\n <li><p>AM Best (insurance industry rating agency)</p></li>\n <li><p>Bank of America - one of the 16 most accurate economic/analyst teams in the world according to Market Watch</p></li>\n <li><p>Bloomberg</p></li>\n <li><p>FactSet Research</p></li>\n <li>State Street - one of the largest custodial banks on earth</li>\n <li>Wells Fargo - one of the 16 most accurate economic/analyst teams in the world according to Market Watch</li>\n <li>NAREIT</li>\n</ul>\n<blockquote>\n Companies with strong ESG profiles may be better positioned for future challenges and experience\n <b>fewer instances of bribery, corruption, and fraud.</b>\" - MSCI (Emphasis added)\n</blockquote>\n<p>Bank of America's research finds that ESG metrics also help improve the long-term profitability and outcomes at companies.</p>\n<blockquote>\n <b>Punchline: higher ROE, lower risk &amp; lower cost of capital</b>\n</blockquote>\n<blockquote>\n We find that companies with greater gender diversity at the board/management level typically see&nbsp;\n <b>higher ROE and lower earnings risk than peers.</b>\n</blockquote>\n<blockquote>\n Moreover, based on disclosure data from ICE, we find gender diversity in management is associated with a&nbsp;\n <b>~20% premium on P/E</b>&nbsp;on an overall and sector-neutral basis.\n</blockquote>\n<blockquote>\n Ethnic and racial workforce diversity shows similarly strong results:\n <b>higher ROE, lower risk, and significant premia on P/E and P/BV.</b>\" - Bank of America (emphasis original)\n</blockquote>\n<p>ESG isn't about political correctness, it's about sound business practices and maximizing long-term profits by avoiding blowing up companies in the short to medium-term.</p>\n<p><b>Baidu Consensus ESG Risk Rating</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating Agency</b></td>\n   <td><b>Industry Percentile</b></td>\n   <td><p><b>Rating Agency Classification</b></p></td>\n  </tr>\n  <tr>\n   <td>MSCI</td>\n   <td>54.0%</td>\n   <td><p>BB Below-Average</p></td>\n  </tr>\n  <tr>\n   <td>Morningstar/Sustainalytics</td>\n   <td>40.2%</td>\n   <td><p>24.4/100 Medium Risk</p></td>\n  </tr>\n  <tr>\n   <td>Reuters'/Refinitiv (Combined ESG Rating)</td>\n   <td>52.6%</td>\n   <td>Satisfactory</td>\n  </tr>\n  <tr>\n   <td>S&amp;P</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td><b>Consensus</b></td>\n   <td><b>48.9%</b></td>\n   <td><b>Average</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Sources: MSCI, Morningstar, Reuters'/Refinitiv)</i></p>\n<p>According to Morningstar, MSCI, and Reuter's BIDU's overall handling of its long-term financial ESG risk is average, in the 49th percentile.</p>\n<ul>\n <li>which is actually the highest ESG score of any of the big China tech stocks</li>\n <li>ESG investors probably want to avoid Chinese companies</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/afa54b995a935d581ed79c58fb5d4920\" tg-width=\"640\" tg-height=\"491\"><img src=\"https://static.tigerbbs.com/464e286a82c2e31d4b5bc2a67525beb8\" tg-width=\"640\" tg-height=\"229\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b0b24c0262471afee43fa88dfe8da44\" tg-width=\"640\" tg-height=\"319\"><span>(Source: MSCI)</span></p>\n<p>Chinese companies tend to score poorly on ESG due to governance issues.</p>\n<p>But note that BIDU used to be rated CCC very poor and has seen two rating upgrades in two years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81242ba4340325a61c591a15f1e0aed7\" tg-width=\"640\" tg-height=\"453\"><span>(Source: BIDU IR)</span></p>\n<p>In recent years BIDU did establish an ESG committee that may explain the improvement in ESG risk scores.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01d6eec0412fa9351dcb8716bbbbc1a4\" tg-width=\"640\" tg-height=\"540\"><span>(Source: BIDU IR)</span></p>\n<blockquote>\n To enhance the integrity of mobile information and continue to be a leader in AI, we devote time and attention to the needs and demands of stakeholders, including suppliers, partners, governments, social institutions, users, employees, communities, and the environment itself.\n</blockquote>\n<blockquote>\n We actively explore low carbon operations, sustainable economic indicators, supply chain management, intellectual property, technological innovation, compliance, data privacy, information security, user experience, personnel training, employee rights, and community engagement.\n</blockquote>\n<blockquote>\n We aim to fully integrate an ESG philosophy and standards into our management, solve social problems with technology, leverage our corporate strength and innovation capability, and contribute long-term, sustainable value to stakeholders and the human community at large.\" - BIDU ESG mission statement\n</blockquote>\n<p>BIDU is talking the talk, and apparently beginning to walk the walk as well when it comes to managing long-term risk.</p>\n<p><img src=\"https://static.tigerbbs.com/5588fc730d2ccc5631369a46ea7bdd1b\" tg-width=\"640\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/2b3f779db4dbecb7bcc0e0880b6f4ae3\" tg-width=\"640\" tg-height=\"293\"></p>\n<p>Morningstar rates BIDU below average compared to its peers, but on par with the likes of Spotify, Snap, and MercadoLibre. In fact, Morningstar considers BIDU's ESG risk to be in the top 36% of all companies it rates.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea303ae18b648b1beee3ba4bb69b599c\" tg-width=\"640\" tg-height=\"308\"><span>(Source: Reuters'/Refinitiv)</span></p>\n<p>Reuters/Refinitv is the most robust ESG model we have access to. Over 450 metrics in total make up that score.</p>\n<ul>\n <li>BIDU scores rather poorly on governance and environmental issues</li>\n</ul>\n<p>The bottom line is that all companies have complex risk profiles that need to be considered before investing.</p>\n<p>The DK Safety and quality model don't ignore any risk, and BIDU's risks are firmly baked into its speculative blue-chip rating.</p>\n<p>A 32% margin of safety compensates us appropriately for all of the company's risks, and what could go wrong in the future.</p>\n<p>However, more risk-intolerant investors will want to avoid BIDU and Chinese companies in general.</p>\n<p><b>Bottom Line: It's Time To Be Greedy When Others Are Fearful About Baidu</b></p>\n<p>In this highly overvalued market, it's easy to throw up your hands and shout \"everything is expensive and it's dangerous to buy any stock.\"</p>\n<p>While there are many speculative bubbles that could destroy your retirement dreams, there are ALWAYS great blue-chip bargains available.</p>\n<p>Baidu is one of those potentially exceptional long-term opportunities right now. Its 40% bear market, partially created by forced institutional margin call selling, allows anyone comfortable with its risk profile to buy the Google of China at a 32% margin of safety.</p>\n<p>Is Baidu speculative? Sure, all Chinese tech stocks are. Is it worth risking a small amount of discretionary savings to see whether Baidu can deliver on its AI/Driverless car/Streaming plans?</p>\n<p>I think so. If Baidu lives up to expectations, then it could potentially double within three years and almost triple within five.</p>\n<p>Barring the most extreme stock market bubble in history, one that surpasses the tech mania of the late '90s, there is no chance the S&amp;P 500 and Nasdaq will even come close.</p>\n<p>And to achieve such returns Baidu doesn't have to fly off into a speculative bubble. It merely has to return to fair value and grow at the impressive rates analysts expect and it has delivered in the past.</p>\n<p>I can't tell you what Baidu's price will do over the next year. I can tell you that the 65% upside analysts expect over the next 12 months is 100% fundamentally justified.</p>\n<p>For those comfortable with the complex risk profile inherent to Chinese tech stocks, a small position in Baidu at some of the best valuations in years is a reasonable and prudent decision.</p>\n<p>Basically, it's time to be greedy when others are fearful about the Google of China.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Reasons Baidu Could Make You Rich</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Reasons Baidu Could Make You Rich\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-03 12:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BIDU":"百度","09888":"百度集团-SW"},"source_url":"https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121605010","content_text":"Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.\nFortunately, whatever your goals, yield, value, growth, or total returns, something great is always on sale if you know where to look.\nBaidu is the Google of China, and planning on increasing spending by 30% annually over the coming years, focusing on AI, driverless cars, and streaming.\nIn recent weeks it plunged 40%, partially due to forced hedge fund margin call selling. This creates a potentially exceptional opportunity to be \"greedy when others are fearful\" about this speculative hyper-growth blue-chip.\nI recently bought a starter position in Baidu, because it's 31% undervalued and analysts think it could double in the next three years, and almost triple over the next five. For anyone comfortable with the complex risk profile of Chinese tech giants, Baidu is one of the most reasonable and prudent hyper-growth blue-chips you can buy today.\n\nPhoto by DNY59/iStock via Getty Images\nOver seven years as an analyst I've studied the greatest investors in history, to see what strategies made them legends.\nGreatest Investors In History: Masters Of Financial Science\n\n\n\n\nName\nReturns\nTime Horizon\nMost Famous For\n\n\nJim Simmons (Co-Founder Renaissance Technologies)\n71.8% CAGR\n1994 to 2014 (best investing record ever recorded)\nPure Quant Based Investing\n\n\nJoel Greenblatt\n40% CAGR\n21 years at Gotham Capital\n\"Above-Average Quality Companies At Below-Average Prices\"\n\n\nPeter Lynch\n29.2% CAGR at Fidelity's Magellan Fund\n1977 to 1990 (13 years)\n\"Growth At A Reasonable Price\"\n\n\nBill Miller (Legg Mason Value Trust 1990 to 2006)\n22.8% CAGR and beat the S&P 500 for 15 consecutive years\n16 years\n\n\nWarren Buffett\n20.8% CAGR at Berkshire\n55 Years\nGreedy when others are fearful\n\n\nBenjamin Graham\n20% CAGR vs 12% S&P 500\n1934 to 1956 (22 years)\nMargin of Safety\n\n\nEdward Thorp\n20+% CAGR\nover 30 years\ninvented card counting,pure statistically-based investing\n\n\nCharlie Munger\n19.80%\n1962 to 1975\nWonderful companies at fair prices\n\n\nHoward Marks\n19% CAGR\nSince 1995\nValuation Mean Reversion\n\n\nAnne Scheiber\n18.3% CAGR\n50 years\nTurned $5K into $22 million with no formal training, purely withtax-efficient buy and hold blue-chip investing.\n\n\nJohn Templeton\n300% from 1939 to 1943, 15.8% CAGR from 1954 to 1992\n38 years\nMarket Cycles\n\n\nCarl Icahn\n14.6% CAGR vs 5.6% S&P 500\n2001 to 2016 (15 Years)\n\n\nDavid Swenson\n13.9% CAGR at Yale's Endowment (includes bonds and alternative assets) vs 10.7% S&P 500\n30 years\nAlternative Asset Allocation\n\n\nGeraldine Weiss\n11.2% vs 9.8% S&P 500\n37 years\nBest risk-adjusted track recordof any newsletter over 30 years according to Hubbert Financial Digest, popularizeddividend yield theory(the only strategy she employed)\n\n\n\nCombining these lessons, along with decades of market studies from leading research institutions and blue-chip analyst firms, I've determined that there are six fundamentals that over the long term will make you rich (assuming you have discretionary savings to invest of course).\n\nPortfolio risk-management\nsafety\nquality\nyield\ngrowth\nand value\n\nWhen combined with patience, time, and discipline, these are what made the greatest investors in history the legends they are today.\nYou and I may never match the returns of the legends, but if we practice disciplined financial science we can avoid costly mistakes, and focus on the highest probability/low-risk blue-chips.\n\n It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.\" - Charlie Munger\n\nThese are the \"consistently not stupid\" decisions that made Charlie Munger and Warren Buffett so successful.\nToday I want to explain why I've recently opened a starter tracking position in speculative hyper-growth blue-chip Baidu (BIDU).\n\nAll Chinese tech giants are suffering a bear market right now. But notice how Baidu recently fell 40% in a matter of weeks.\n\n Baidu was also held by now-infamous hedge fund Archegos Capital Management at that time, which blew up during the same week. When the highly levered Archegos was unable to meet a margin call, banks seized Archegos' assets, including Baidu, and sold them off in massive blocks, accelerating Baidu's plunge.\" -Motley Fool\n\nInstitutional forced selling is one of the best opportunities for prudent long-term investors to buy the world's highest quality companies at mouth-watering prices.\n\nLowe's (LOW) and Realty Income (O) both plunged 25% on March 16th, due to institutional forced selling.\nIn other words, when hedge funds get margin calls, they become the ultimate dumb money. Taking the other side of those trades can be the way to earn Buffett-like returns, through buying and holding blue-chip investing.\nSo let me explain the four reasons why I consider it time to get greedy when others are fearful on Baidu.\n\n Today I buy what others won't, so tomorrow I earn returns others can't.\"\n\n\n  - Paraphrase of Jerry Rice\n\nReason 1: A Speculative Blue-Chip Quality Company\nAccording to the 2017 studyDo Stocks Outperform Treasury Bills?by Hendrik Bessembinder of Arizona State University's W.P. Carey School of Business 52% of all stocks, lose money over time.\nThis study looked at 26,000 companies from 1926 to 2016 and found that about 12% went to zero.\n\n(Source: Bessembinder et al)\nFrom 1926 to 2016 over 3,000 US companies listed on US exchanges went bankrupt. 1,100 or about 4%, delivered 100% of net positive returns. Just 48% of stocks delivered positive returns.\nIn other words, safety and quality are what can help you avoid the value traps that don't make any money or lose all of your savings.\nThe Dividend Kings quality scores factor in 143 fundamental metrics covering\n\ndividend safety\nbalance sheet strength\nshort and long-term bankruptcy risk\naccounting and corporate fraud risk\nprofitability and business model\ncost of capital\nlong-term sustainability (ESG scores and trends from MSCI, Morningstar, and Reuters'/Refinitiv)\nmanagement quality\ndividend friendly corporate culture/income dependability\nlong-term total returns (a Ben Graham sign of quality)\n\nOur model actually includes over 1,000 metrics if you count everything factored in by eight rating agencies we use to assess fundamental risk.\nEvery metric was selected based on\n\ndecades of empirical data\nthe experience of the greatest investors in history\neight rating agencies\nand what blue-chip economists and analyst firms consider most closely correlated to a company's long-term success.\n\nBaidu's quality is 9/12 speculative blue-chip, meaning I recommend a 2.5% max risk cap position sizing.\nDividend Kings Quality Rating System\n\n\n\n\nQuality Score\nMeaning\nMax Invested Capital Risk Recommendation\nMargin Of Safety Potentially Good Buy\nStrong Buy\nVery Strong Buy\nUltra-Value Buy\n\n\n3\nTerrible, Very High Long-Term Bankruptcy Risk\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n4\nVery Poor\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n5\nPoor\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n6\nBelow-Average, Fallen Angels (very speculative)\n1%\n45%\n55%\n65%\n75%\n\n\n7\nAverage (Relative to S&P 500)\n2.5%\n35%\n45%\n55%\n65%\n\n\n8\nAbove-Average\n5% (unless speculative then 2.5%)\n25% to 30%\n35% to 40%\n45% to 50%\n55% to 60%\n\n\n9\nBlue-Chip\n7% (unlessspeculativethen2.5%)\n20% to25%\n30% to35%\n40% to45%\n50% to55%\n\n\n10\nSWAN (a higher caliber of Blue-Chip)\n7% (unless speculative then 2.5%)\n15% to 20%\n25% to 30%\n35% to 40%\n45% to 50%\n\n\n11\nSuper SWAN (exceptionally dependable blue-chips)\n7% (unless speculative then 2.5%)\n10% to 15%\n20% to 25%\n30% to 35%\n40% to 45%\n\n\n12\nUltra SWAN (as close to perfect companies as exist)\n7% (unless speculative then 2.5%)\n5% to 10%\n15% to 20%\n25% to 30%\n35% to 40%\n\n\n\nWhat exactly makes Baidu a speculative blue-chip?\nBalance Sheet Safety\n\n\n\n\nRating\nDividend Kings Safety Score (75 Safety Metric Model)\nApproximate Dividend Cut Risk (Average Recession)\nApproximate Dividend Cut Risk In Pandemic Level Recession\n\n\n1 (very unsafe)\n0% to 20%\nover 4%\n16+%\n\n\n2 (unsafe average)\n21% to 40%\nover 2%\n8% to 16%\n\n\n3 (average)\n41% to 60%\n2%\n4% to 8%\n\n\n4 (safe)\n61% to 80%\n1%\n2% to 4%\n\n\n5 (very safe)\n81% to 100%\n0.5%\n1% to 2%\n\n\nBIDU\n76%\nA stable rating from Fitch, A3 (A- equivalent) stable rating Moody's\n0.66% to 2.5% 30-year default/bankruptcy risk\n\n\n\nLong-Term Dependability\n\n\n\n\nCompany\nDK Long-Term Dependability Score\nInterpretation\nPoints\n\n\nS&P 500/Industry Average\n58%\nAverage Dependability\n2\n\n\nNon-Dependable Companies\n31% or below\nPoor Dependability\n1\n\n\nRelatively Dependable Companies\n32% to 70%\nBelow to Above-Average Dependability\n2\n\n\nVery Dependable Companies\n71% to 80%\nVery Dependable\n3\n\n\nExceptionally Dependable Companies\n81% or higher\nExceptional Dependability\n4\n\n\nBIDU\n67%\nAbove-Average Dependability\n2\n\n\n\nOverall Quality\n\n\n\n\nBIDU\nFinal Score\nRating\n\n\nSafety\n76%\n4/5\n\n\nBusiness Model\n80%\n3/3\n\n\nDependability\n67%\n2/4\n\n\nTotal\n73%\n9/12 Speculative Blue-Chip\n\n\n\nBaidu is the 245th Highest Quality Master List Company (Out of 495) = 49th Percentile\n(Source: DK Safety & Quality Tool) updated at the end of each day, sorted by overall quality score\n\ngreen = potentially good buy or better\nblue = potentially reasonable buy\nyellow = hold\nred = potential trim/sell\n\nBIDU's 73% quality score means it's the 245th highest quality company on the DK 500 Master List. This list includes the world's highest quality companies including\n\nall dividend champions\nall dividend aristocrats\nall dividend kings\nall 12/12 Ultra SWANs (as close to perfect quality as exists on Wall Street, think wide moat aristocrats)\nnumerous global aristocrats (such as BTI, ENB, and NVS)\n\nBIDU is about average quality compared to the world's elite companies and similar in quality to such 9/12 blue-chips and, 10/12 SWANs, as\n\nQualcomm (QCOM)\nBecton, Dickinson and Company (BDX) - dividend aristocrat\nW. P. Carey (WPC)\nSonoco Products (SON) - dividend champion\nH.B. Fuller (FUL) - dividend king\nMetLife (MET)\nDigital Realty Trust (DLR)\nLeggett & Platt (LEG) - dividend aristocrat\nV.F. Corp (VFC) - dividend aristocrat\nBank of New York Mellon (BK)\n\nBaidu has a strong cash-rich balance sheet, though it is taking on extra leverage in order to fund its ambitious growth efforts.\n(Source: Gurufocus Premium)\nIncluding leasing expenses, BIDU has 2X as much cash as debt.\nFitch and Moody's rate Baidu A stable and A3 (A- equivalent) stable outlooks, indicating 0.66% to 2.5% 30-year default/bankruptcy risk.\nAnalysts expect much higher spending in the short-term to cause leverage to increase, though rating agencies don't expect this to be permanent.\nThe key safety ratios with Baidu are the F, Z, and M scores, advanced accounting ratios created by leading research institutions that use asset ratios scanned from quarterly filings.\n\nF-score measures short-term bankruptcy risk\nZ-score measures 2-year bankruptcy risk (with 84% to 92% historical accuracy)\nM-score measures accounting fraud risk (with 76% historical accuracy)\n\n7/9 is very safe on the F-score = very low short-term bankruptcy risk.\n3.59 vs 3+ very safe and 9.51 historical, confirms the A-credit ratings and low long-term risk of losing all your money.\nAnd the M-score of -2.42 indicates a significantly less than 17.5% probability that Baidu is cooking its books.\n\n(Source: Gurufocus)\nBIDU's historically unsafe M-score has been improving and became safe at the end of 2014 and has remained so for the last seven years.\n\nits safety and quality score still get dinged though because we factor in every important metric so we don't miss any warning signs\n\nThe M-score is 76% historically accurate at catching accounting fraud and 82.5% accurate at finding companies with honest accounting.\nCombined with its credit ratings and risk ratings from 5 different rating agencies, plus its auditors, I can say with relatively high confidence that Baidu is not the next Luckin Coffee.\nQuality is a proven alpha factor, one of seven that beats the market over the long term.\n\nOn Wall Street, profitability over time is the most accurate proxy for quality.\n\ncredit ratings are one of the best qualitative quality proxies\n\n(Source: Gurufocus Premium)\nBaidu's profitability is historically in the top 20% of its peers, confirming a wide and stable moat.\n\n\n\n\nMetric\nIndustry Percentile\nMajor Interactive Media Companies More Profitable Than BIDU (Out of 543)\n\n\nOperating Margin\n67.35\n177\n\n\nNet Margin\n81.26\n102\n\n\nReturn On Equity\n67.86\n175\n\n\nReturn On Assets\n68.47\n171\n\n\nReturn On Capital\n69.61\n165\n\n\nAverage\n70.91\n158\n\n\n\n(Source: Gurufocus Premium)\nOver the last year, increased growth spending has reduced profitability to the top 29% of peers, though that's expected to recover in the future.\n\nfor example, returns on equity are expected to rise 10% by 2024\n\nJoel Greenblatt defined quality by return on capital, his gold standard proxy for quality and moatiness.\n\noperating income (EBIT)/operating capital (the money it takes to run the business for a year)\n\nGreenblatt's entire legendary track record, 40% annual returns for 21 years, was done by combining high ROC with low valuations.\n(Source: Gurufocus Premium)\nEven with heavy growth spending in recent years, Baidu's returns on capital are very impressive.\nThe average Master List company has 88% ROC.\nThe average aristocrat 83%.\nThe average Ultra SWAN 87%.\nOver the past year, BIDU's ROC has been 103% and in Q4 it was 95%.\nAnalysts expect that in the next few years, ROC will revert back to its historical 205%.\nA level of profitability that, according to Joel Greenblatt, would make BIDU one of the highest quality companies in the world.\nBaidu's future growth is expected to come from aggressive investments into driverless cars (long-term) and AI and streaming in the short and medium term.\nBaidu Growth Spending Consensus Forecast\n\n\n\n\nYear\nSG&A\nR&D\nCapex\nTotal Growth Spending\nSales\nGrowth Spending/Sales\n\n\n2020\n$2,792\n$3,016\n$993\n$4,009\n$16,548\n24.23%\n\n\n2021\n$3,574\n$3,554\n$1,893\n$5,447\n$19,517\n27.91%\n\n\n2022\n$3,974\n$4,062\n$2,220\n$6,282\n$22,235\n28.25%\n\n\n2023\n$5,049\n$5,858\n$2,719\n$8,577\n$25,258\n33.96%\n\n\n2024\nNA\nNA\n$1,504\nNA\n$30,071\nNA\n\n\n2025\nNA\nNA\nNA\nNA\nNA\nNA\n\n\n2026\nNA\nNA\nNA\nNA\nNA\nNA\n\n\nAnnualized Growth\n21.83%\n24.77%\n10.94%\n28.85%\n16.10%\nNA\n\n\n\n(Source: FactSet Research Terminal)\nHistorically Baidu spends about 17% of its revenue on growth. By 2023 that's expected to double.\nTotal growth spending is expected to grow at almost 30% annually for the next three years.\nBaidu Consensus Profit Forecast\n\n\n\n\nYear\nSales\nFCF\nEBITDA\nEBIT (Operating Income)\nNet Income\n\n\n2020\n$16,548\n$2,106\n$4,251\n$2,216\n$3,473\n\n\n2021\n$19,517\n$3,947\n$4,734\n$2,629\n$2,760\n\n\n2022\n$22,235\n$5,013\n$5,812\n$3,400\n$3,381\n\n\n2023\n$25,258\n$5,854\n$6,730\n$4,163\n$4,226\n\n\n2024\n$30,071\n$7,421\nNA\n$6,195\n$5,268\n\n\nAnnualized Growth\n16.10%\n37.01%\n16.55%\n29.31%\n10.98%\n\n\n\n(Source: FactSet Research Terminal)\nManagement's guidance, which is the basis for these consensus forecasts, is for strong revenue growth. Net margins are expected to compress but cash flows are expected to soar.\nFree cash flow, the ultimate source of all intrinsic value according to Ben Graham and Warren Buffett, is expected to more than triple by 2024.\nBaidu Consensus Margin Forecast\n\n\n\n\nYear\nFCF Margin\nEBITDA Margin\nEBIT (Operating) Margin\nNet Margin\n\n\n2020\n12.7%\n25.7%\n13.4%\n21.0%\n\n\n2021\n20.2%\n24.3%\n13.5%\n14.1%\n\n\n2022\n22.5%\n26.1%\n15.3%\n15.2%\n\n\n2023\n23.2%\n26.6%\n16.5%\n16.7%\n\n\n2024\n24.7%\nNA\n20.6%\n17.5%\n\n\nAnnualized Growth\n18.01%\n1.23%\n11.37%\n-4.42%\n\n\n\n(Source: FactSet Research Terminal)\nBaidu's profitability is ultimately expected to improve, though net margins won't until its major growth initiatives are over.\n(Source: FactSet Research Terminal)\nBIDU ended 2020 with $5.6 billion in cash, and that's expected to rise to $22 billion by 2023, and potentially nearly $60 billion by 2024.\nThat may not be as impressive as some tech companies ($601 billion by 2026 for Amazon), but it does mean that Baidu's war chest and financial flexibility to pivot towards AI, driverless cars, and streaming will grow significantly in future years.\nBaidu Medium-Term Growth Consensus\n\n\n\n\nMetric\n2020 Actual Growth\n2021 consensus growth\n2022 consensus growth\n2023 consensus growth\n\n\nEPS\n31%\n7%\n18%\n16%\n\n\nOwner Earnings (Buffett smoothed out FCF)\n124%\n22%\nNA\nNA\n\n\nOperating Cash Flow\n-14%\n59%\n31%\n7%\n\n\nFree cash flow\n96%\n85%\n22%\nNA\n\n\nEBITDA\n-18%\n53%\n27%\n24%\n\n\nEBIT (operating income)\n130%\n26%\n26%\n19%\n\n\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nIn the next few years, Baidu's growth efforts are expected to result in strong growth. But what's attracted me to the Google of China, is that this hyper-growth is expected to continue for many years to come.\nReason 2: Long-Term Hyper-Growth Potential\n(Source: FactSet Research Terminal)\nBIDU's AI, streaming, and driverless car investments are showing up in \"other services\" and that revenue is expected to grow almost 50% in 3 years.\n\n(Source: F.A.S.T. Graphs, FactSet Research)\n\n16.0% to 17.5% long-term growth consensus range\n6% to 28% growth consensus range adjusted for historical margin of error\n\n\nThe margins of error on BIDU forecasts are very wide. 33% of the time it grows much faster than expected, 33% of the time much slower, and 33% of the about as fast as expected.\n\nmargins of error over the last decade (excluding outliers) are 60% to the downside, 55% to the upside\nthe long-term growth consensus range: 16% to 18% CAGR\nthe margin of error adjusted long-term analyst growth consensus range: 6% to 28% CAGR\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU's historical growth is from -9% to 52%. So relatively high growth uncertainty, more so than most tech blue-chips.\n\nand thus the $650 investment vs $10K in GOOG, $89K in BABA, and $200K in Amazon\n\nHowever, analysts expect growth to be similar to the 20% growth of the last decade.\nAnd at today's high margin of safety, we're likely getting a good deal to compensate for BIDU's growth uncertainty and complex risk profile.\nReason 3: Highly Attractive Valuation\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU growing at the rates analysts expect in the future has historically been valued at 23X to 26X earnings.\n(Source: FactSet Research Terminal)\nBIDU is currently trading at 20.4X forward earnings and 13.6X EV/EBITDA.\nEV/EBITDA is market cap + net debt/EBITDA and is Joel Greenblatt's and private equity's favorite valuation metric.\nBaidu's 13-year median EV/EBITDA is 23.2, and its trading at 13.6, implying a potential 42% discount to fair value.\n\n\n\n\nMetric\nHistorical Fair Value (12-years)\n2020\n2021\n2022\n2023\n\n\nEarnings\n25.0\n$243.87\n$261.27\n$307.91\n$357.77\n\n\nOwner Earnings (Buffett smoothed out FCF) - 10 yr\n23.5\n$324.46\n$394.46\nNA\nNA\n\n\nOperating Cash Flow\n19.9\n$202.33\n$321.22\n$420.37\n$448.64\n\n\nFree Cash Flow (11-yr)\n27.5\n$220.77\n$408.53\n$497.28\nNA\n\n\nEBITDA\n22.0\n$190.60\n$291.18\n$370.80\n$459.36\n\n\nEBIT (operating income)\n34.5\n$207.78\n$261.14\n$328.78\n$392.83\n\n\nAverage\n$224.60\n$312.71\n$373.81\n$410.40\n\n\nCurrent Price\n$215.83\n\n\nDiscount To Fair Value\n3.91%\n30.98%\n42.26%\n47.41%\n\n\nUpside To Fair Value\n4%\n45%\n73%\n90%\n\n\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU is about 31% historically undervalued right now, meaning that if it grows as expected through 2023 and returns to fair value that's 90% upside potential.\n\n$350 is the median 12-month price target\n65% upside potential over the next 12 months according to analysts\n\nAnd that guestimate is 100% justified by fundamentals.\n\n\n\n\nRating\nMargin Of Safety For Speculative 9/12 Blue-Chip Quality Companies\n2020 Price\n2021 Price\n2022 Price\n\n\nPotentially Reasonable Buy\n0%\n$224.60\n$312.71\n$373.81\n\n\nPotentially Good Buy\n25%\n$168.45\n$234.53\n$280.35\n\n\nPotentially Strong Buy\n35%\n$145.99\n$203.26\n$242.97\n\n\nPotentially Very Strong Buy\n45%\n$123.53\n$171.99\n$205.59\n\n\nPotentially Ultra-Value Buy\n55%\n$101.07\n$140.72\n$168.21\n\n\nCurrently\n$213.41\n5%\n32%\n43%\n\n\nUpside To Fair Value (Not Including Dividends)\n5%\n47%\n75%\n\n\n\nAt a 32% margin of safety, Baidu, despite all its risks, is a potentially good buy for more risk-tolerant investors.\nBut the ability to potentially enjoy monster short-term gains is just the cherry on top with Baidu.\nReason 4: Eye-Popping Long-Term Return Potential\nHere is a reasonable idea of what kind of returns you can expect buying BIDU today.\nBaidu 2023 Consensus Return Potential\n(Source: F.A.S.T. Graphs, FactSet Research)\nIf BAIDU grows as analysts expect through 2023, and returns to historical fair value, then analysts expect\n\n75% total returns\n23.3% CAGR returns\nvs -1.3% CAGR S&P 500\n\nFrom its 31% discount, BIDU has the potential to outperform the 36% overvalued S&P 500 by 78% over the next three years.\n(Source: F.A.S.T. Graphs, FactSet Research)\nCorporate earnings growth estimates are rising by the day. Yet the market has already priced in three years of earnings growth totaling 62% or 17.4% CAGR.\nOver the long term, BIDU's return outlook is also very strong.\nBaidu 2026 Consensus Return Potential\n(Source: F.A.S.T. Graphs, FactSet Research)\nIf BIDU grows as analysts expect through 2026 and returns to historical fair value you could expect\n\n179% total returns\n19.8% CAGR\nvs 4.5% CAGR S&P 500\n4.4X better than the market's consensus return potential\n\nIf BIDU delivers as analysts expect, then buying today could almost triple your money in the next five years.\n(Source: F.A.S.T. Graphs, FactSet Research)\nOver the long term, analysts expect\n\n0% yield + 17.5% growth = 17.5% CAGR very long-term total returns (after valuation changes cancel out)\n6% to 28% CAGR range\nvs 7.8% for the S&P and 10.8% for the dividend aristocrats\n\nBaidu Total Returns Since 2006\n\n(Source: Portfolio Visualizer)\nIn the last 15 years, BIDU has turned $1 into $26, adjusted for inflation, and crushed the market with 8X more wealth compounding.\nIt's expected to grow slightly slower than in the past, but the ability to potentially enjoy 17.5% hyper-growth for many years is incredibly attractive.\nBaidu Vs S&P 500 Vs Dividend Aristocrat Inflation-Adjusted Total Return Forecast: $650 Initial Investment\n\n\n\n\nTime Frame (Years)\n5.8% LT Inflation-Adjusted Returns (S&P Consensus)\n8.8% Inflation-Adjusted Returns (aristocrat consensus)\n15.5% Inflation-Adjusted Returns (BIDU consensus)\n\n\n5\n$1,325.65\n$1,524.56\n$1,336.05\n\n\n10\n$1,757.34\n$2,324.28\n$2,746.21\n\n\n15\n$2,329.62\n$3,543.51\n$5,644.73\n\n\n20\n$3,088.26\n$5,402.29\n$11,602.54\n\n\n25\n$4,093.94\n$8,236.11\n$23,848.60\n\n\n30\n$5,427.13\n$12,556.45\n$49,019.95\n\n\n35\n$7,194.46\n$19,143.06\n$100,758.76\n\n\n40\n$9,537.33\n$29,184.74\n$207,106.02\n\n\n45\n$12,643.14\n$44,493.88\n$425,699.02\n\n\n50\n$16,760.36\n$67,833.58\n$875,009.10\n\n\n\nThe ability to grow 2X to 3X as fast as the S&P 500 or aristocrats creates the potential for wealth compounding on a massive scale. Look at how large my $650 initial BIDU investment can grow, assuming analysts are right and management delivers the expected growth over time.\n\n\n\n\nTime Frame (Years)\nRatio S&P vs Aristocrat Consensus\nRatio S&P vs BIDU consensus\n\n\n5\n1.15\n1.01\n\n\n10\n1.32\n1.56\n\n\n15\n1.52\n2.42\n\n\n20\n1.75\n3.76\n\n\n25\n2.01\n5.83\n\n\n30\n2.31\n9.03\n\n\n35\n2.66\n14.01\n\n\n40\n3.06\n21.72\n\n\n45\n3.52\n33.67\n\n\n50\n4.05\n52.21\n\n\n\nOver the long term, the aristocrats are expected to quadruple the S&P 500's wealth compounding. Baidu could potentially deliver 52X as much wealth as the S&P 500.\nIs Baidu likely to grow 17.5% for 50 years? Probably not. But even if it can deliver just 10 to 20 years of hyper-growth, when combined with its attractive current valuation, that's worthy of a small initial investment in my book.\nRisk Profile: Why Baidu Isn't Right For Everyone\nThere are no risk-free companies and no company is right for everyone. You have to be comfortable with the fundamental risk profile.\nFundamental Risk Summary\n\n We think Baidu faces high levels of risk, given intense competition along with questions as to whether its AI-related investment will generate satisfactory returns.\n\n\n Though Baidu is the largest search engine in China, it is competing with the other two Internet giants, Tencent and Alibaba, and Google’s potential return to the Chinese search market is also a threat.\n\n\n Regarding the search engine business, Tencent invested in Sogou, and Alibaba acquired UC Web, which owns a mobile search engine, Shenma. Competition has extended to each key area of mobile Internet usage, such as navigation, O2O services, online video services, and so on. Baidu’s margins have been significantly dragged down by aggressive spending in video content and O2O marketing but recovered to 18.5% in 2017 from 14.2% in 2016 as Baidu divested margin-dilutive businesses.\n\n\n The major Internet companies in China have been investing in AI-related business, such as cloud computing, voice and image recognition, and autonomously driven cars. At the current stage,\n it is difficult to predict whether Baidu will be the final winner in AI and whether the returns will reward its investment.\n\n\n In addition, regulatory risk is a concern. Following the Wei Zexi incident in early 2016, Chinese authorities launched new regulations for online search and advertising, which clearly defined paid search results as advertising. These regulations took effect on Sept. 1, 2016. Given stricter standards for online advertisers, Baidu’s online marketing services revenue growth declined to 1% in 2016. If the local authorities release more policies regarding Internet business, such as online advertising and online finance, Baidu’s revenue could be negatively affected.\n\n\n Since 2017, Baidu has discontinued the disclosure of MAUs for its mobile search and mobile maps, which is possibly due to weaker numbers.\" - Morningstar\n\nBIDU's pivot into the technology of the future is potentially like Satya Nadella taking MSFT into the pure cloud-driven strategy.\nOr it could be like IBM's Watson-based flaying, major promise but poor execution over time.\n\n Baidu has the urgency to strengthen its mobile business because it has not developed another industry-leading business other than its mobile search app for years.\n\n\n Baidu’s share of mobile time spend reduced to 6.9% in March 2019 from 7.3% year over year. Baidu positions its flagship Baidu app (173 million daily average users in March 2019) as a \"super\" app that can serve a wide range of users' needs, such as reading, watching videos, shopping, transportation tickets, food services, and so on, but we believe the app is less of a super app compared with Tencent’s Wechat (1.1 billion monthly average users).\n\n\n It has copied the strategies of its peers by launching a mini-program (181 million MAU in March 2019) and short video apps (sevenfold year over year increase to 98 million MAU in March 2019 as per Questmobile).\" - Morningstar\n\nBaidu has struggled more than most Chinese tech giants to pivot and adapt to the disruption risk that is ever-present in this industry.\n\n We have not factored in the meaningful commercialization of Baidu’s AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo and artificial intelligence cloud services.\n\n\nSearch is driven by an artificial intelligence-powered algorithm, giving Baidu a good foundation in this segment.Baidu is also\n one of the largest and earliest companies to start AI investments in China.Currently, Baidu uses AI to recommend feeds to the app’s users to generate advertising revenue.\n\n\n IQiyi, Baidu’s online video platform, has been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on \n iQiyi. It accounted for 29% of Baidu’s revenue in the first quarter of 2019.\n\n\n In the near term, Baidu will invest heavily in its mobile business in terms of sales and marketing, and traffic acquisition. While meaningful monetization is uncertain, we expect Baidu to increase or maintain its research and development expenditure, which is at 17% of sales in the first quarter of 2019. To fend off major competitor Tencent Video, iQiyi needs to continue to invest in premium content. Therefore, we expect Baidu’s margins to be under pressure in the near term.\" - Morningstar\n\nBut while Baidu has made some questionable investments over the years, its current focus on AI is a logical and prudent one.\nBaidu's competitive advantage in AI stems from being the first mover in Chinese search. It has the most data to feed into its machine learning algorithms, though rivals like Alibaba (BABA) and Tencent (OTCPK:TCEHY) are working hard to eat its lunch.\n\n Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for seven straight quarters.\n\n\n That ongoing slowdown is troubling since Baidu's advertising rivals -- like \n Tencent and \n Bilibili --both expanded their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\" - Leo Sun,Motley Fool\n\nIn recent years, BIDU's market share in digital ads has been declining, which means unlike companies like JD, BABA, and TCEHY, it's attempting to pivot from a position of weakness, not strength.\nIt has the resources to invest heavily and hopefully achieve the kinds of impressive growth rates analysts expect. But success is far from guaranteed.\nThis is why I've bought a starter 3 share tracking position in Baidu.\n\ncompared to a $10,000 position in Alphabet (GOOG)\nand an $89,000 investment into Alibaba\nand a $200,000 investment into Amazon(AMZN)\n\nAnd of course, we can't forget about the risks surrounding management and governance.\n\n Robin Yanhong Li, the founder of Baidu, has been the chairman of the board since its inception and has served as the CEO since 2004. Before that, Li worked at IDD Information Services and Infoseek in Silicon Valley, with a special focus on product development in Internet search engines. Li owned 16.4% of the company as of January 2020, and all directors and management together owned 16.5%. Jennifer Xinzhe Li stepped down as CFO in 2017 and was replaced by Herman Yu, formerly of Weibo...\n\n\n Baidu had reputational issues, with the Wei Zexi medical incident being the largest scandal, which led to a management restructuring in 2016. Three vice presidents were dismissed. Qi Lu joined Baidu in January 2017 as group president and COO but resigned in June 2018. Lu has a solid record in the U.S. technology industry, and Baidu’s financial performance substantially improved during his appointment.\n\n\n This incident once again raised the market’s concern about Baidu’s turnover of key executives, including ex-chief scientist Andrew Ng and ex-senior vice president Jin Wang. In May 2019, Baidu announced the departure of senior vice president Hailong Xiang, who had been with Baidu since 2005. His departure is believed to be a result of Baidu’s inability to develop another successful and profitable business outside of search.\n\n\n The introduction of a senior management retirement plan and a young leadership development program signifies Baidu’s determination to revamp its management and reinvigorate its businesses in the new Internet era. Shen Dou leads the mobile ecosystem group now. He has a technical background and puts more focus on more user experience versus maximizing sales. There are now more interactions between the sales, commercial product team, and the user experience team, which we think is better for Baidu’s sustainability.\" - Morningstar\n\nUnlike the management at Tencent, which Morningstar considers \"exemplary\" or the \"deep bench\" at Alibaba, BIDU has struggled with management in recent years.\n\n B shares, which are owned by the CEO and his affiliates, have 10 times the voting rights of Class A shares. Therefore,\n Li controls 55.4% of the equity voting rights as of January 2020.As a result, these Class B shareholders have a disproportionately large influence over key matters such as the election of directors and significant corporate transactions, including mergers and the sale of the company or assets.\" - Morningstar\n\nBIDU's founder and CEO controls 55% of the vote and thus is effectively king of Baidu. If shareholders don't like what management does, they have no recourse other than selling.\nManagement isn't a poor capital allocator, but in recent years it hasn't been firing on all cylinders when it comes to pivoting to growth catalysts as easily as JD, BABA, and TCEHY have.\n\n Some of Baidu’s acquisitions and new business developments have proved unsuccessful.\n\n\n These include the acquisition of 59% of Nuomi, a group-buying service provider, for $160 million in 2013 and the remaining stake in 2014 for an undisclosed sum, and Raven Tech for $90 million in 2017...\n\n\n Baidu’s investments in online-to-offline businesses such as deliveries and Nuomi led to its \n operating margin declining from 26.1% in 2014 to 14.2% in 2016 but they did not gain as much scale as Meituan.\n\n\n However, we refrain from giving a Poor stewardship rating to Baidu for several reasons.\n\n\nBaidu made the right decision in moving away from the O2O businesses, which led to margin improvement to 18.5% in 2017and investing in mobile and AI, which we believe is sensible given that they complement its strong core search business.\n\n\n Also, Baidu’s return on invested capital has been way higher than its weighted average cost of capital of 9.8% over the past 10 years.\" - Morningstar\n\nAnd of course, every investor in Chinese tech has to understand VIE regulatory risk.\n\n Like many other Chinese Internet companies listed in overseas markets, Baidu operates under a \n variable interest entity structure designed to let companies bypass Chinese legal restrictions on foreign ownership in certain sectors.\n\n\n Baidu's foreign investors essentially hold shares of Baidu's VIE domiciled in the Cayman Islands.\n We don't expect any legal challenges to VIE structures by the Chinese government and believe that Baidu will consider a China depositary receipt listing in the future.\n\n\n However, if the legitimacy of Baidu's related VIE is found to violate applicable law or regulation, Chinese regulatory authorities might take action, including revoking the business and operating licenses of Baidu's subsidiaries or the VIE, or discontinuing, restricting, or restructuring Baidu's operations.\n\n\n Since the Chinese Ministry of Commerce has the jurisdiction to regulate VIEs,\n we believe overseas investors would have limited legal rights.\" - Morningstar\n\nVIE regulatory risk is the reason that all Chinese tech stocks are speculative, and always will be, regardless of quality (Tencent is a 12/12 speculative Ultra SWAN for this reason).\nHow do you measure and factor in such a complex risk profile?\nBy turning to the expert consensus.\n\n39 analysts that cover BIDU and collectively know it better than anyone other than management\nand whether or not scary headlines meaningfully alter the investment thesis\n2 credit rating agencies\n3 ESG risk rating agencies\n44 total experts that monitor BIDU's risk profile for DK and will let us know if the thesis is weakening, strengthening or breaks\n\nESG Material Financial Risk Analysis\nEssential To Fully Understanding A Company's Overall Risk Profile Especially Chinese Tech Companies\nAccording to the world's best risk assessors, ESG metrics are a critical component of a company's overall risk profile. Here's who considers ESG important and builds it into their safety models and ratings.\n\nBlackRock - #1 asset manager in the world\nMSCI - #1 indexing giant\nMorningstar\nReuters'/Refinitiv\nISS (Institutional Shareholder Services) - #1 corporate proxy firm on earth\nS&P\nFitch\nMoody's\nDBRS (Canadian credit rating agency)\nAM Best (insurance industry rating agency)\nBank of America - one of the 16 most accurate economic/analyst teams in the world according to Market Watch\nBloomberg\nFactSet Research\nState Street - one of the largest custodial banks on earth\nWells Fargo - one of the 16 most accurate economic/analyst teams in the world according to Market Watch\nNAREIT\n\n\n Companies with strong ESG profiles may be better positioned for future challenges and experience\n fewer instances of bribery, corruption, and fraud.\" - MSCI (Emphasis added)\n\nBank of America's research finds that ESG metrics also help improve the long-term profitability and outcomes at companies.\n\nPunchline: higher ROE, lower risk & lower cost of capital\n\n\n We find that companies with greater gender diversity at the board/management level typically see \n higher ROE and lower earnings risk than peers.\n\n\n Moreover, based on disclosure data from ICE, we find gender diversity in management is associated with a \n ~20% premium on P/E on an overall and sector-neutral basis.\n\n\n Ethnic and racial workforce diversity shows similarly strong results:\n higher ROE, lower risk, and significant premia on P/E and P/BV.\" - Bank of America (emphasis original)\n\nESG isn't about political correctness, it's about sound business practices and maximizing long-term profits by avoiding blowing up companies in the short to medium-term.\nBaidu Consensus ESG Risk Rating\n\n\n\n\nRating Agency\nIndustry Percentile\nRating Agency Classification\n\n\nMSCI\n54.0%\nBB Below-Average\n\n\nMorningstar/Sustainalytics\n40.2%\n24.4/100 Medium Risk\n\n\nReuters'/Refinitiv (Combined ESG Rating)\n52.6%\nSatisfactory\n\n\nS&P\nNA\nNA\n\n\nConsensus\n48.9%\nAverage\n\n\n\n(Sources: MSCI, Morningstar, Reuters'/Refinitiv)\nAccording to Morningstar, MSCI, and Reuter's BIDU's overall handling of its long-term financial ESG risk is average, in the 49th percentile.\n\nwhich is actually the highest ESG score of any of the big China tech stocks\nESG investors probably want to avoid Chinese companies\n\n\n(Source: MSCI)\nChinese companies tend to score poorly on ESG due to governance issues.\nBut note that BIDU used to be rated CCC very poor and has seen two rating upgrades in two years.\n(Source: BIDU IR)\nIn recent years BIDU did establish an ESG committee that may explain the improvement in ESG risk scores.\n(Source: BIDU IR)\n\n To enhance the integrity of mobile information and continue to be a leader in AI, we devote time and attention to the needs and demands of stakeholders, including suppliers, partners, governments, social institutions, users, employees, communities, and the environment itself.\n\n\n We actively explore low carbon operations, sustainable economic indicators, supply chain management, intellectual property, technological innovation, compliance, data privacy, information security, user experience, personnel training, employee rights, and community engagement.\n\n\n We aim to fully integrate an ESG philosophy and standards into our management, solve social problems with technology, leverage our corporate strength and innovation capability, and contribute long-term, sustainable value to stakeholders and the human community at large.\" - BIDU ESG mission statement\n\nBIDU is talking the talk, and apparently beginning to walk the walk as well when it comes to managing long-term risk.\n\nMorningstar rates BIDU below average compared to its peers, but on par with the likes of Spotify, Snap, and MercadoLibre. In fact, Morningstar considers BIDU's ESG risk to be in the top 36% of all companies it rates.\n(Source: Reuters'/Refinitiv)\nReuters/Refinitv is the most robust ESG model we have access to. Over 450 metrics in total make up that score.\n\nBIDU scores rather poorly on governance and environmental issues\n\nThe bottom line is that all companies have complex risk profiles that need to be considered before investing.\nThe DK Safety and quality model don't ignore any risk, and BIDU's risks are firmly baked into its speculative blue-chip rating.\nA 32% margin of safety compensates us appropriately for all of the company's risks, and what could go wrong in the future.\nHowever, more risk-intolerant investors will want to avoid BIDU and Chinese companies in general.\nBottom Line: It's Time To Be Greedy When Others Are Fearful About Baidu\nIn this highly overvalued market, it's easy to throw up your hands and shout \"everything is expensive and it's dangerous to buy any stock.\"\nWhile there are many speculative bubbles that could destroy your retirement dreams, there are ALWAYS great blue-chip bargains available.\nBaidu is one of those potentially exceptional long-term opportunities right now. Its 40% bear market, partially created by forced institutional margin call selling, allows anyone comfortable with its risk profile to buy the Google of China at a 32% margin of safety.\nIs Baidu speculative? Sure, all Chinese tech stocks are. Is it worth risking a small amount of discretionary savings to see whether Baidu can deliver on its AI/Driverless car/Streaming plans?\nI think so. If Baidu lives up to expectations, then it could potentially double within three years and almost triple within five.\nBarring the most extreme stock market bubble in history, one that surpasses the tech mania of the late '90s, there is no chance the S&P 500 and Nasdaq will even come close.\nAnd to achieve such returns Baidu doesn't have to fly off into a speculative bubble. It merely has to return to fair value and grow at the impressive rates analysts expect and it has delivered in the past.\nI can't tell you what Baidu's price will do over the next year. I can tell you that the 65% upside analysts expect over the next 12 months is 100% fundamentally justified.\nFor those comfortable with the complex risk profile inherent to Chinese tech stocks, a small position in Baidu at some of the best valuations in years is a reasonable and prudent decision.\nBasically, it's time to be greedy when others are fearful about the Google of China.","news_type":1},"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103514606,"gmtCreate":1619793157805,"gmtModify":1704272487311,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103514606","repostId":"1129215602","repostType":4,"repost":{"id":"1129215602","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":1619787703,"share":"https://ttm.financial/m/news/1129215602?lang=&edition=fundamental","pubTime":"2021-04-30 21:01","market":"us","language":"en","title":"Joe Biden's $6 trillion ambition","url":"https://stock-news.laohu8.com/highlight/detail?id=1129215602","media":"Reuters","summary":"In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending ","content":"<p>In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending proposals and so far has delivered on roughly a third of it.</p><p>His plans cover a range of policy goals: Lifting the economy out of the COVID-19 recession; restoring blue collar jobs; beefing up critical U.S. infrastructure; levying higher taxes on corporations and the wealthiest Americans; securing affordable child care for American families.</p><p>The first-term Democrat’s vision to reshape the U.S. economy has come in the form of three broad fiscal programs, each bearing a three-letter acronym distinguished from one another only by their middle initials: The ARP (American Rescue Plan); the AJP (American Jobs Plan); and AFP (American Families Plan).</p><p>Here’s where they stand:</p><p>ARP: American Rescue Plan - $1.9 trillion</p><p>Status: Passed</p><p>The first of Biden’s proposals, floated before he was sworn into office on Jan. 20, is the only of the three so far to have been enacted into law. It passed in March on party-line votes, backed by Democrats, rejected by Republicans.</p><p>Its signature components were $1,400 one-time payments that went out to most American households this spring and the extension of a $300 a week federal enhancement to state unemployment benefits until September. Those funds helped lift consumer spending in the first quarter at an annualized rate of 10.7%, among the largest gains in the post-World War Two era.</p><p>The ARP also included funds to accelerate the COVID-19 vaccination campaign and to assist the businesses and communities most affected by the pandemic. The United States has emerged as one of the world leaders in the COVID-19 inoculation effort, with 43% of U.S. adults having gotten at least one dose of vaccine and 30% now fully vaccinated.</p><p>AJP: American Jobs Plan - $2.3 trillion</p><p>Status: Blueprint</p><p>Biden announced what he bills as his “blue collar blueprint” at the end of March, and while it has been the focus of much discussion in Washington, no formal proposal has yet surfaced on Capitol Hill.</p><p>The plan’s two biggest buckets - at $650 billion each - would:</p><p>* Fund traditional public transportation projects like roads and bridges while underwriting investments in the infrastructure to kick the transition to electric vehicles into high gear; and</p><p>* Pay to refurbish aging public schools and decaying public water systems and expand broadband access for the 35% of rural Americans lacking such high-speed communications connectivity.</p><p>Other components of the AJP would provide funds for home- or community-based care for the elderly and disabled and would invest in domestic manufacturing for industries the Biden administration considers critical to the national interest, such as semiconductors and green energy.</p><p>To pay for these, Biden has proposed raising the corporate tax rate to 28% from 21%; eliminating all fossil fuel industry subsidies and loopholes; and establishing a minimum tax on income companies use to report profits to investors.</p><p>AFP: American Families Plan - $1.8 trillion</p><p>Status: Blueprint</p><p>The last of Biden’s proposals is a mix of new spending, totaling $1 trillion, and tax credits for working families, about $800 billion. It went up the flagpole in late April and features his first stab at getting the wealthiest Americans to pay more in taxes. Like the AJP, it has yet to get as far as a formal bill before Congress.</p><p>Its key spending elements include provisions:</p><p>* Aiming to help working parents cover childcare expenses and subsidizing daycare costs for families with kids under 5 and provide free preschool for 3- and 4-year-olds.</p><p>* Providing free community college tuition; boosting a federal tuition grant program; and subsidizing tuition for students from middle-class families attending an historically Black college or university, or HBCU.</p><p>* Extending the child tax credit, included in the ARP enacted in March, through 2025. The current credit, essentially another monthly payment from the government for most families, will sunset at the end of this year.</p><p>* Roughly doubling the tax rate paid by high earners on their investment income to 39.6% from 20% now and lifting the highest tax rate on ordinary income to 39.6% from 37%.</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>Joe Biden's $6 trillion ambition</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\">\nJoe Biden's $6 trillion ambition\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\">2021-04-30 21:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending proposals and so far has delivered on roughly a third of it.</p><p>His plans cover a range of policy goals: Lifting the economy out of the COVID-19 recession; restoring blue collar jobs; beefing up critical U.S. infrastructure; levying higher taxes on corporations and the wealthiest Americans; securing affordable child care for American families.</p><p>The first-term Democrat’s vision to reshape the U.S. economy has come in the form of three broad fiscal programs, each bearing a three-letter acronym distinguished from one another only by their middle initials: The ARP (American Rescue Plan); the AJP (American Jobs Plan); and AFP (American Families Plan).</p><p>Here’s where they stand:</p><p>ARP: American Rescue Plan - $1.9 trillion</p><p>Status: Passed</p><p>The first of Biden’s proposals, floated before he was sworn into office on Jan. 20, is the only of the three so far to have been enacted into law. It passed in March on party-line votes, backed by Democrats, rejected by Republicans.</p><p>Its signature components were $1,400 one-time payments that went out to most American households this spring and the extension of a $300 a week federal enhancement to state unemployment benefits until September. Those funds helped lift consumer spending in the first quarter at an annualized rate of 10.7%, among the largest gains in the post-World War Two era.</p><p>The ARP also included funds to accelerate the COVID-19 vaccination campaign and to assist the businesses and communities most affected by the pandemic. The United States has emerged as one of the world leaders in the COVID-19 inoculation effort, with 43% of U.S. adults having gotten at least one dose of vaccine and 30% now fully vaccinated.</p><p>AJP: American Jobs Plan - $2.3 trillion</p><p>Status: Blueprint</p><p>Biden announced what he bills as his “blue collar blueprint” at the end of March, and while it has been the focus of much discussion in Washington, no formal proposal has yet surfaced on Capitol Hill.</p><p>The plan’s two biggest buckets - at $650 billion each - would:</p><p>* Fund traditional public transportation projects like roads and bridges while underwriting investments in the infrastructure to kick the transition to electric vehicles into high gear; and</p><p>* Pay to refurbish aging public schools and decaying public water systems and expand broadband access for the 35% of rural Americans lacking such high-speed communications connectivity.</p><p>Other components of the AJP would provide funds for home- or community-based care for the elderly and disabled and would invest in domestic manufacturing for industries the Biden administration considers critical to the national interest, such as semiconductors and green energy.</p><p>To pay for these, Biden has proposed raising the corporate tax rate to 28% from 21%; eliminating all fossil fuel industry subsidies and loopholes; and establishing a minimum tax on income companies use to report profits to investors.</p><p>AFP: American Families Plan - $1.8 trillion</p><p>Status: Blueprint</p><p>The last of Biden’s proposals is a mix of new spending, totaling $1 trillion, and tax credits for working families, about $800 billion. It went up the flagpole in late April and features his first stab at getting the wealthiest Americans to pay more in taxes. Like the AJP, it has yet to get as far as a formal bill before Congress.</p><p>Its key spending elements include provisions:</p><p>* Aiming to help working parents cover childcare expenses and subsidizing daycare costs for families with kids under 5 and provide free preschool for 3- and 4-year-olds.</p><p>* Providing free community college tuition; boosting a federal tuition grant program; and subsidizing tuition for students from middle-class families attending an historically Black college or university, or HBCU.</p><p>* Extending the child tax credit, included in the ARP enacted in March, through 2025. The current credit, essentially another monthly payment from the government for most families, will sunset at the end of this year.</p><p>* Roughly doubling the tax rate paid by high earners on their investment income to 39.6% from 20% now and lifting the highest tax rate on ordinary income to 39.6% from 37%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129215602","content_text":"In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending proposals and so far has delivered on roughly a third of it.His plans cover a range of policy goals: Lifting the economy out of the COVID-19 recession; restoring blue collar jobs; beefing up critical U.S. infrastructure; levying higher taxes on corporations and the wealthiest Americans; securing affordable child care for American families.The first-term Democrat’s vision to reshape the U.S. economy has come in the form of three broad fiscal programs, each bearing a three-letter acronym distinguished from one another only by their middle initials: The ARP (American Rescue Plan); the AJP (American Jobs Plan); and AFP (American Families Plan).Here’s where they stand:ARP: American Rescue Plan - $1.9 trillionStatus: PassedThe first of Biden’s proposals, floated before he was sworn into office on Jan. 20, is the only of the three so far to have been enacted into law. It passed in March on party-line votes, backed by Democrats, rejected by Republicans.Its signature components were $1,400 one-time payments that went out to most American households this spring and the extension of a $300 a week federal enhancement to state unemployment benefits until September. Those funds helped lift consumer spending in the first quarter at an annualized rate of 10.7%, among the largest gains in the post-World War Two era.The ARP also included funds to accelerate the COVID-19 vaccination campaign and to assist the businesses and communities most affected by the pandemic. The United States has emerged as one of the world leaders in the COVID-19 inoculation effort, with 43% of U.S. adults having gotten at least one dose of vaccine and 30% now fully vaccinated.AJP: American Jobs Plan - $2.3 trillionStatus: BlueprintBiden announced what he bills as his “blue collar blueprint” at the end of March, and while it has been the focus of much discussion in Washington, no formal proposal has yet surfaced on Capitol Hill.The plan’s two biggest buckets - at $650 billion each - would:* Fund traditional public transportation projects like roads and bridges while underwriting investments in the infrastructure to kick the transition to electric vehicles into high gear; and* Pay to refurbish aging public schools and decaying public water systems and expand broadband access for the 35% of rural Americans lacking such high-speed communications connectivity.Other components of the AJP would provide funds for home- or community-based care for the elderly and disabled and would invest in domestic manufacturing for industries the Biden administration considers critical to the national interest, such as semiconductors and green energy.To pay for these, Biden has proposed raising the corporate tax rate to 28% from 21%; eliminating all fossil fuel industry subsidies and loopholes; and establishing a minimum tax on income companies use to report profits to investors.AFP: American Families Plan - $1.8 trillionStatus: BlueprintThe last of Biden’s proposals is a mix of new spending, totaling $1 trillion, and tax credits for working families, about $800 billion. It went up the flagpole in late April and features his first stab at getting the wealthiest Americans to pay more in taxes. Like the AJP, it has yet to get as far as a formal bill before Congress.Its key spending elements include provisions:* Aiming to help working parents cover childcare expenses and subsidizing daycare costs for families with kids under 5 and provide free preschool for 3- and 4-year-olds.* Providing free community college tuition; boosting a federal tuition grant program; and subsidizing tuition for students from middle-class families attending an historically Black college or university, or HBCU.* Extending the child tax credit, included in the ARP enacted in March, through 2025. The current credit, essentially another monthly payment from the government for most families, will sunset at the end of this year.* Roughly doubling the tax rate paid by high earners on their investment income to 39.6% from 20% now and lifting the highest tax rate on ordinary income to 39.6% from 37%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100277177,"gmtCreate":1619619377699,"gmtModify":1704726933116,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Woots","listText":"Woots","text":"Woots","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/100277177","repostId":"1179396069","repostType":4,"repost":{"id":"1179396069","kind":"news","pubTimestamp":1619573853,"share":"https://ttm.financial/m/news/1179396069?lang=&edition=fundamental","pubTime":"2021-04-28 09:37","market":"us","language":"en","title":"Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.","url":"https://stock-news.laohu8.com/highlight/detail?id=1179396069","media":"Barrons","summary":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech g","content":"<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.</p>\n<p>The buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted&nbsp;its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.</p>\n<p>That’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.</p>\n<p>Overall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.</p>\n<p>Apple is also&nbsp;expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.</p>\n<p>As always, the quarter is about more than just earnings.</p>\n<p>For one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.</p>\n<p>Another is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.</p>\n<p>“Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.</p>\n<p>And if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.</p>\n<p>That would certainly qualify as a job well done.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.</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\">\nApple Could Blow the Top Off Earnings—Again. What That Would Mean for the Stock.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-28 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.\nThe buzz around Apple last year was off the charts, even for...</p>\n\n<a href=\"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-could-blow-the-top-off-earningsagain-what-that-would-mean-for-the-stock-51619495288?mod=hp_DAY_Theme_1_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179396069","content_text":"Apple has its work cut out for it trying to surpass 2020’s blowout results. The thing is, the tech giant just might be able to pull it off.\nThe buzz around Apple last year was off the charts, even for what is the buzziest of technology companies. Anticipation of the fall launch of the company’s first 5G phones, surging demand for both Macs and iPads as the pandemic rolled on, and strength in both wearables and services fed off each other. The pieces all came together in the December quarter, when Apple (ticker: AAPL) posted its biggest quarter ever. Sales soared 21% to $111.4 billion, more than $8 billion over the Street consensus. Every product category—iPhone, iPad, Macs, wearables, and services—notched double-digit growth. Apple stock finished the year up 81%, adding nearly $1 trillion to its market cap.\nThat’s a tough act to follow, particularly with the March quarter, which always slows from the holiday-boosted December quarter. But Apple could pull off the quintuple double again when its results come out after the bell Wednesday. The Street certainly thinks so, even if the market, which has pushed Apple shares up less than 2% in 2021, has been more cautious. Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.\nOverall, the Street consensus expects sales of $77 billion, up 32% from a year ago, with profits of 98 cents a share. That would be the fastest top-line growth rate for any Apple quarter since March 2012, when revenues were about half what they are now. And most bullish Apple analysts seem to think their own estimates are too low—a print at $77 billion would likely trigger a selloff in the stock.\nApple is also expected to provide an update on its capital-allocation strategy. A year ago,the company announced a 6% dividend increase, and boosted its stock repurchase plan by $50 billion. Apple has said repeatedly that it is pushing to get to a cash neutral position, but its remarkably big cash flow has slowed progress toward that goal.\nAs always, the quarter is about more than just earnings.\nFor one, the Street will be looking for signs that the sales surge for Macs and iPads is sustainable—and that the company is keeping up with demand despite widespread chip and display shortages. Some investors worry that the spike in PC demand could ebb as more people return to schools and offices. They’ll be looking for company guidance on that point.\nAnother is the sustainability of the resurgence in iPhone growth. There were high hopes among bulls that the iPhone 12 would drive a “supercycle” with an accelerated replacement cycle. Several analysts have noted that a clear consumer preference for the high end of the iPhone 12 line is driving up average selling prices, which should support a strong revenue quarter for the segment.\n“Given the later-than-seasonal launch of new iPhones in the fall of 2020, we believe iPhone demand will experience more favorable year-over-year comparisons this March quarter compared to past years,” writes Monness Crespi Hardt’s Brian White, who sees 47% iPhone revenue growth during the quarter.\nAnd if Apple pulls it all together? Apple could crush Street estimates, writes Morgan Stanley analyst Katy Huberty, who has an Overweight rating and a $158 price target on the stock, up 17% from Monday’s close of $134.72. She sees the top line above $80 billion, with all segments growing at least 19% year over year. She is especially bullish on Mac and iPad sales, with estimates far above consensus—53% for Macs and 52% for iPads. She also expects Apple to increase its dividend by 10% and expand its stock repurchase program by $60 billion.\nThat would certainly qualify as a job well done.","news_type":1},"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372862470,"gmtCreate":1619191996190,"gmtModify":1704721118477,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Like and comment thanks!","listText":"Like and comment thanks!","text":"Like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/372862470","repostId":"1149578575","repostType":4,"repost":{"id":"1149578575","kind":"news","pubTimestamp":1619191312,"share":"https://ttm.financial/m/news/1149578575?lang=&edition=fundamental","pubTime":"2021-04-23 23:21","market":"us","language":"en","title":"Elon Musk wants SpaceX to reach Mars so humanity is not a ‘single-planet species’","url":"https://stock-news.laohu8.com/highlight/detail?id=1149578575","media":"CNBC","summary":"Elon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.“We don’t want to be one of those single-planet species; we want to be a multi-planet species,” Musk said on Friday.While the company is flying astronauts with its Falcon 9 rockets and Crew Dragon capsules, SpaceX is working to develop Starship: An enormous stainless steel rocket, designed to be fully reusable and carry people to the moon and Mars.SpaceX founder and CEO Elon Musk remains focused o","content":"<div>\n<p>KEY POINTS\n\nElon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.\n“We don’t want to be one of those single-planet species; we want to be a multi-planet ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk wants SpaceX to reach Mars so humanity is not a ‘single-planet species’</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\">\nElon Musk wants SpaceX to reach Mars so humanity is not a ‘single-planet species’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nElon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.\n“We don’t want to be one of those single-planet species; we want to be a multi-planet ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1149578575","content_text":"KEY POINTS\n\nElon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.\n“We don’t want to be one of those single-planet species; we want to be a multi-planet species,” Musk said on Friday.\nWhile the company is flying astronauts with its Falcon 9 rockets and Crew Dragon capsules, SpaceX is working to develop Starship: An enormous stainless steel rocket, designed to be fully reusable and carry people to the moon and Mars.\n\nSpaceX founder and CEO Elon Musk remains focused on his vision for the company: Establishing a permanent human presence on Mars, with its Starship rockets carrying people to and from the red planet.\n“We don’t want to be one of those single planet species, we want to be a multi-planet species,” Musk said on Friday, speaking after the company launched its Crew-2 mission to orbit.\n“It’s been now almost half a century since humans were last on the moon. That’s too long, we need to get back there and have a permanent base on the moon — again, like a big permanently occupied base on the moon. And then build a city on Mars to become a spacefaring civilization, a multi-planet species,” Musk also said.\nStarship is the enormous stainless steel rocket that SpaceX has been building and testing at its development facility in Boca Chica, Texas. Starship’s goal is to launch cargo and people on missions to the moon and Mars. Current Starship prototypes stand at about 150 feet tall, or about the size of a 15-story building, and each one is powered by three Raptor rocket engines.\nStarship prototype rocket SN10 stands on the launchpad at the company’s facility in Boca Chica, Texas.\nMusk has previously estimated that it will cost about $5 billion to fully develop Starship, although SpaceX has not disclosed how much it has spent on the program to date. The company has steadily raised funds in the past few years, to fund both Starship and its similarly ambitious Starlink project, with SpaceX’s valuation soaring to about $74 billion— making it one of the most valuable private companies in the world.\nAdditionally, SpaceX last week won a $2.9 billion contract from NASA, to help the space agency land astronauts on the moon’s surface with the first crewed mission targeting 2024.\n″[Starship has] mostly been funded internally thus far and it’s pretty expensive. As you can tell, if you’ve been watching videos, we’ve blown up a few of them,” Musk said.\nThe company has performed multiple successful test flights of Starship, although landing attempts after the last four high-altitude flights ended in fiery explosions. Despite the the prototypes’ destruction, SpaceX sees the test flights as progress toward creating a rocket that is fully reusable. SpaceX’s current Falcon fleet of rockets is partially reusable, as the company can land and reuse the rocket’s boosters.\nBut Musk hopes Starship transforms space travel into something more akin to commercial air travel. The rocket’s enormous size would also make it capable of launching several times as much cargo at once — for comparison, while SpaceX’s Falcon 9 rockets can send as many as 60 Starlink satellites at a time, SpaceX says Starship will be able to launch 400 Starlink satellites at a time.\nMusk remains “highly confident” that SpaceX will land humans on Mars by 2026, saying last December that it’s an achievable goal “about six years from now.” He added that SpaceX plans to send a Starship rocket without crew “in two years.”\nAn artist rendering of SpaceX’s Starship rockets on the surface of Mars.\nIn the meantime, SpaceX has many milestones to go before Starship can carry passengers. The rocket has yet to reach orbit. Musk last year said that the company will fly “hundreds of missions with satellites before we put people on board.”\nMusk may be focused on Mars, but the hurdles of Starship’s development are not lost on the space billionaire.\n“It’s a tough vehicle to build because we’re trying to crack this nut of a rapid and fully reusable rocket,” Musk said. “But the thing that’s really important to revolutionize space is a rapidly reusable rocket that’s reliable, too.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":486,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581495146931772","authorId":"3581495146931772","name":"Ben01","avatar":"https://static.tigerbbs.com/b158a0cc5a97dd1cf647bb3d21cf2c9f","crmLevel":2,"crmLevelSwitch":0,"idStr":"3581495146931772","authorIdStr":"3581495146931772"},"content":"Comment back already","text":"Comment back already","html":"Comment back already"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378258378,"gmtCreate":1619047483594,"gmtModify":1704718683517,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Please comment and like","listText":"Please comment and like","text":"Please comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/378258378","repostId":"2129803357","repostType":4,"repost":{"id":"2129803357","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1619035258,"share":"https://ttm.financial/m/news/2129803357?lang=&edition=fundamental","pubTime":"2021-04-22 04:00","market":"us","language":"en","title":"Wall Street rebounds after two-day decline; Netflix slides","url":"https://stock-news.laohu8.com/highlight/detail?id=2129803357","media":"Reuters","summary":"Nasdaq index outshines S&P 500 at closeNetflix falls as subscriber growth slowsVerizon shares fall a","content":"<ul><li>Nasdaq index outshines S&amp;P 500 at close</li><li>Netflix falls as subscriber growth slows</li><li>Verizon shares fall after Q1 results</li></ul><p>NEW YORK/BANGALORE, April 21 (Reuters) - Wall Street rallied on Wednesday, rebounding from a two-day decline, as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's    sell-off after its disappointing results.</p><p>Shares of Netflix slumped a day after the world's largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.</p><p>But stocks rallied throughout the day, building steam as the tech-heavy Nasdaq overtook the S&amp;P 500 in percentage gain shortly before the close.</p><p>Intuitive Surgical Inc    surged to an all-time high as its results trounced estimates. The maker of robotic surgical systems vied with Microsoft Corp    and Tesla Inc    for much of the session as the biggest contributor to the S&amp;P 500's    upside.</p><p>Nine of the 11 S&amp;P 500 sectors rose, with communication services   , led by Netflix, and the defensive utilities&nbsp;sectors falling.</p><p>Economically sensitive value stocks    rose at about double the gain in growth    as measured by the Russell 1000 indexes.</p><p>\"You take Netflix out of today's equation, it's simply a broad-based rally,\" said JJ Kinahan, chief market strategist at TD Ameritrade, adding technology shares still had room to run.</p><p>The VIX, CBOE's market volatility index, slid below 18, suggesting the market in days to come could be range-bound while also shrugging off a rebound in COVID infections, he said.</p><p>Analysts expect S&amp;P 500 companies to post first-quarter earnings growth of 30.9% from a year earlier, Refinitiv IBES data shows.</p><p>Netflix's results dashed expectations but technology remains a major market focus.</p><p>\"Investors feel more confident of the earnings growth prospects for technology,\" said Sam Stovall, chief investment strategist at CFRA Research in New York. \"They would rather gravitate toward the sure thing, which right now is tech stocks.\"</p><p>Unofficially, the Dow Jones Industrial Average    rose 0.94% to 34,139.02, the S&amp;P 500    gained 0.93% to 4,173.46 and the Nasdaq Composite    added 1.19% to 13,950.22.</p><p>Verizon Communications Inc    slid after it lost more wireless subscribers than expected in the first quarter. Shares of <a href=\"https://laohu8.com/S/TMUS\">T-Mobile US Inc</a>    and AT&amp;T Inc    rose.</p><p>U.S. railroad operator CSX Corp    fell after it missed estimates for first-quarter profit, hurt by frigid polar vortex temperatures, ongoing pandemic disruptions and higher fuel costs.</p><p>(Reporting by Herbert Lash, additional reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur and Richard Chang)</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>Wall Street rebounds after two-day decline; Netflix slides</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\">\nWall Street rebounds after two-day decline; Netflix slides\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\">2021-04-22 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul><li>Nasdaq index outshines S&amp;P 500 at close</li><li>Netflix falls as subscriber growth slows</li><li>Verizon shares fall after Q1 results</li></ul><p>NEW YORK/BANGALORE, April 21 (Reuters) - Wall Street rallied on Wednesday, rebounding from a two-day decline, as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's    sell-off after its disappointing results.</p><p>Shares of Netflix slumped a day after the world's largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.</p><p>But stocks rallied throughout the day, building steam as the tech-heavy Nasdaq overtook the S&amp;P 500 in percentage gain shortly before the close.</p><p>Intuitive Surgical Inc    surged to an all-time high as its results trounced estimates. The maker of robotic surgical systems vied with Microsoft Corp    and Tesla Inc    for much of the session as the biggest contributor to the S&amp;P 500's    upside.</p><p>Nine of the 11 S&amp;P 500 sectors rose, with communication services   , led by Netflix, and the defensive utilities&nbsp;sectors falling.</p><p>Economically sensitive value stocks    rose at about double the gain in growth    as measured by the Russell 1000 indexes.</p><p>\"You take Netflix out of today's equation, it's simply a broad-based rally,\" said JJ Kinahan, chief market strategist at TD Ameritrade, adding technology shares still had room to run.</p><p>The VIX, CBOE's market volatility index, slid below 18, suggesting the market in days to come could be range-bound while also shrugging off a rebound in COVID infections, he said.</p><p>Analysts expect S&amp;P 500 companies to post first-quarter earnings growth of 30.9% from a year earlier, Refinitiv IBES data shows.</p><p>Netflix's results dashed expectations but technology remains a major market focus.</p><p>\"Investors feel more confident of the earnings growth prospects for technology,\" said Sam Stovall, chief investment strategist at CFRA Research in New York. \"They would rather gravitate toward the sure thing, which right now is tech stocks.\"</p><p>Unofficially, the Dow Jones Industrial Average    rose 0.94% to 34,139.02, the S&amp;P 500    gained 0.93% to 4,173.46 and the Nasdaq Composite    added 1.19% to 13,950.22.</p><p>Verizon Communications Inc    slid after it lost more wireless subscribers than expected in the first quarter. Shares of <a href=\"https://laohu8.com/S/TMUS\">T-Mobile US Inc</a>    and AT&amp;T Inc    rose.</p><p>U.S. railroad operator CSX Corp    fell after it missed estimates for first-quarter profit, hurt by frigid polar vortex temperatures, ongoing pandemic disruptions and higher fuel costs.</p><p>(Reporting by Herbert Lash, additional reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur and Richard Chang)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","T":"美国电话电报",".DJI":"道琼斯","MSFT":"微软","NFLX":"奈飞","CSX":"CSX运输",".SPX":"S&P 500 Index","ISRG":"直觉外科公司",".IXIC":"NASDAQ Composite","TMUS":"T-Mobile US Inc","VZ":"威瑞森","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129803357","content_text":"Nasdaq index outshines S&P 500 at closeNetflix falls as subscriber growth slowsVerizon shares fall after Q1 resultsNEW YORK/BANGALORE, April 21 (Reuters) - Wall Street rallied on Wednesday, rebounding from a two-day decline, as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's    sell-off after its disappointing results.Shares of Netflix slumped a day after the world's largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.But stocks rallied throughout the day, building steam as the tech-heavy Nasdaq overtook the S&P 500 in percentage gain shortly before the close.Intuitive Surgical Inc    surged to an all-time high as its results trounced estimates. The maker of robotic surgical systems vied with Microsoft Corp    and Tesla Inc    for much of the session as the biggest contributor to the S&P 500's    upside.Nine of the 11 S&P 500 sectors rose, with communication services   , led by Netflix, and the defensive utilities sectors falling.Economically sensitive value stocks    rose at about double the gain in growth    as measured by the Russell 1000 indexes.\"You take Netflix out of today's equation, it's simply a broad-based rally,\" said JJ Kinahan, chief market strategist at TD Ameritrade, adding technology shares still had room to run.The VIX, CBOE's market volatility index, slid below 18, suggesting the market in days to come could be range-bound while also shrugging off a rebound in COVID infections, he said.Analysts expect S&P 500 companies to post first-quarter earnings growth of 30.9% from a year earlier, Refinitiv IBES data shows.Netflix's results dashed expectations but technology remains a major market focus.\"Investors feel more confident of the earnings growth prospects for technology,\" said Sam Stovall, chief investment strategist at CFRA Research in New York. \"They would rather gravitate toward the sure thing, which right now is tech stocks.\"Unofficially, the Dow Jones Industrial Average    rose 0.94% to 34,139.02, the S&P 500    gained 0.93% to 4,173.46 and the Nasdaq Composite    added 1.19% to 13,950.22.Verizon Communications Inc    slid after it lost more wireless subscribers than expected in the first quarter. Shares of T-Mobile US Inc    and AT&T Inc    rose.U.S. railroad operator CSX Corp    fell after it missed estimates for first-quarter profit, hurt by frigid polar vortex temperatures, ongoing pandemic disruptions and higher fuel costs.(Reporting by Herbert Lash, additional reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur and Richard Chang)","news_type":1},"isVote":1,"tweetType":1,"viewCount":228,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575378956741249","authorId":"3575378956741249","name":"Kiattt","avatar":"https://community-static.tradeup.com/news/e6d09fa1316db5994a40917a273216eb","crmLevel":6,"crmLevelSwitch":1,"idStr":"3575378956741249","authorIdStr":"3575378956741249"},"content":"Done. Pls reply to comment ty","text":"Done. Pls reply to comment ty","html":"Done. Pls reply to comment ty"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370259871,"gmtCreate":1618589229493,"gmtModify":1704713218125,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Like and comment pls~","listText":"Like and comment pls~","text":"Like and comment pls~","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370259871","repostId":"1178531879","repostType":4,"repost":{"id":"1178531879","kind":"news","pubTimestamp":1618572915,"share":"https://ttm.financial/m/news/1178531879?lang=&edition=fundamental","pubTime":"2021-04-16 19:35","market":"us","language":"en","title":"Nio Stock Looks More Attractive Now, But Is It a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1178531879","media":"InvestorPlace","summary":"The fundamentals are less enticing for NIO stock than you might think.At its peak euphoria, electric","content":"<blockquote>The fundamentals are less enticing for NIO stock than you might think.</blockquote><p>At its peak euphoria, electric vehicle manufacturer<b>Nio</b>(NYSE:<b><u>NIO</u></b>) was tempting a run to $70 territory, possibly breaking into triple digits. Unfortunately, a number of factors, with the global semiconductor supply chain disruption being the biggest, contributed to a steep correction of NIO stock. Nevertheless, with the company being one of China’s most relevant innovators, another temptation has arisen.</p><p>This time, investors are wondering if now represents an ideal entry point. This sentiment is particularly strong for those who may have ruefully missed out on the rally — or sold their holdings prematurely.</p><p>Having gained over 1,012% over the trailing year, discounts have been few and far between. With NIO stock down substantially from the Feb. 9 session (at time of writing, minus 39%), the EV firm offers a compelling contrarian case.</p><p>Further, there’s an argument to be made that theglobal chip shortage— no matter how painful it is right now — will eventually fade. Here, the novel coronavirus pandemic may offer a parallel. At the beginning of the crisis, it was natural for people to have doom-and-gloom thoughts. Later, as the healthcare industry adjusted to the crisis, the threat became less pronounced. Today, we’re seeing light at the end of the tunnel.</p><p>In addition, NIO stock is backed by innovations other than the underlyingEVs. As our own Robert Lakin pointed out, Nio’s Battery as a Service model may be a gamechanger. He noted that this was the key reason why Goldman Sachs upgraded NIO to “hold” from “sell,” providing a 12-month price target of $59 a pop.</p><p>Moreover, Lakin wrote:</p><blockquote>“Most households in China lack conditions to install private chargers, especially outside of main cities,Goldman analysts said in December. “In addition, (battery-as-a-service) also represents a systematic solution to the long-existing challenges for EV penetration, including battery degradation, battery upgradability, and lower resale value,” they said.”</blockquote><p>Although it’s a pioneering concept, it might not be enough to move the needle for the EV maker just yet.</p><p><b>A Litany of Problems Affect NIO Stock</b></p><p>While we may have avoided utter doom regarding the coronavirus, we’re still not completely out of the woods. No one knows for sure what will come out of this crisis, which leads me to the semiconductor issue regarding NIO stock. Based on historical trends, we’re assuming that everything will be A-OK eventually. But again, who knows?</p><p>That’s one of the warnings that Morris A. Cohen of the Wharton School delivered to the rest of us. Modern semiconductor applications are incredibly complex, withmultiple dependencies built into a product. In other words, the production process can’t function when only part of a product or system has the required supply of chips.</p><p>More alarmingly for NIO stock, Cohen states that vehicle systems that use semiconductors are both convoluted and non-interoperable. Therefore, you can’t just take chips designed for one car brand and apply them to another. This will greatly impact the ability for the automotive industry to recover.</p><p>If that wasn’t bad enough, Cohen argues that structurally, the supply chain may never be the same. In the old economic paradigm, the U.S. model was, to put it bluntly and impolitely, to exploit cheap Chinese labor. Now, China wants its citizens to have a taste of the good life. That means the country is no longer a hub for semiconductor production for everyone else but represents a supply source to feed domestic demand.</p><p>Theoretically, that angle might benefit NIO stock relative to American EV manufacturers. But then again, Nio has made no secret about its international ambitions. If Nioever does come to the U.S., it will need to figure out the ultimate perplexing problem: how to make EVs compete with economy model combustion cars?</p><p>As intriguing as its BaaS model is, it’s not going to solve the affordability problem affecting NIO stock and other EV companies.</p><p><b>A Peculiar Technical Setup</b></p><p>One thing that gives me pause about NIO stock is the appearance of a pennant formation that began in early March of this year. If the pennant appeared as a consolidation following a sharp spike rally, most technical analysts would likely regard this as a continuation pattern; in other words, more bullishness ahead.</p><p>However, the pennant is materializing following a steep corrective phase. Typically, the interpretation is bearish. But you just don’t know for sure since we’re in an emotionally charged market environment.</p><p>My gut feeling is that we’re going to see further downside from here. Of course, this is just my opinion based on the outside fundamentals. Anything can happen and you should be prepared for all possible outcomes.</p>","source":"lsy1606302653667","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>Nio Stock Looks More Attractive Now, But Is It a Buy?</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\">\nNio Stock Looks More Attractive Now, But Is It a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 19:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/nio-stock-looks-more-attractive-now-but-is-it-a-buy/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The fundamentals are less enticing for NIO stock than you might think.At its peak euphoria, electric vehicle manufacturerNio(NYSE:NIO) was tempting a run to $70 territory, possibly breaking into ...</p>\n\n<a href=\"https://investorplace.com/2021/04/nio-stock-looks-more-attractive-now-but-is-it-a-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://investorplace.com/2021/04/nio-stock-looks-more-attractive-now-but-is-it-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178531879","content_text":"The fundamentals are less enticing for NIO stock than you might think.At its peak euphoria, electric vehicle manufacturerNio(NYSE:NIO) was tempting a run to $70 territory, possibly breaking into triple digits. Unfortunately, a number of factors, with the global semiconductor supply chain disruption being the biggest, contributed to a steep correction of NIO stock. Nevertheless, with the company being one of China’s most relevant innovators, another temptation has arisen.This time, investors are wondering if now represents an ideal entry point. This sentiment is particularly strong for those who may have ruefully missed out on the rally — or sold their holdings prematurely.Having gained over 1,012% over the trailing year, discounts have been few and far between. With NIO stock down substantially from the Feb. 9 session (at time of writing, minus 39%), the EV firm offers a compelling contrarian case.Further, there’s an argument to be made that theglobal chip shortage— no matter how painful it is right now — will eventually fade. Here, the novel coronavirus pandemic may offer a parallel. At the beginning of the crisis, it was natural for people to have doom-and-gloom thoughts. Later, as the healthcare industry adjusted to the crisis, the threat became less pronounced. Today, we’re seeing light at the end of the tunnel.In addition, NIO stock is backed by innovations other than the underlyingEVs. As our own Robert Lakin pointed out, Nio’s Battery as a Service model may be a gamechanger. He noted that this was the key reason why Goldman Sachs upgraded NIO to “hold” from “sell,” providing a 12-month price target of $59 a pop.Moreover, Lakin wrote:“Most households in China lack conditions to install private chargers, especially outside of main cities,Goldman analysts said in December. “In addition, (battery-as-a-service) also represents a systematic solution to the long-existing challenges for EV penetration, including battery degradation, battery upgradability, and lower resale value,” they said.”Although it’s a pioneering concept, it might not be enough to move the needle for the EV maker just yet.A Litany of Problems Affect NIO StockWhile we may have avoided utter doom regarding the coronavirus, we’re still not completely out of the woods. No one knows for sure what will come out of this crisis, which leads me to the semiconductor issue regarding NIO stock. Based on historical trends, we’re assuming that everything will be A-OK eventually. But again, who knows?That’s one of the warnings that Morris A. Cohen of the Wharton School delivered to the rest of us. Modern semiconductor applications are incredibly complex, withmultiple dependencies built into a product. In other words, the production process can’t function when only part of a product or system has the required supply of chips.More alarmingly for NIO stock, Cohen states that vehicle systems that use semiconductors are both convoluted and non-interoperable. Therefore, you can’t just take chips designed for one car brand and apply them to another. This will greatly impact the ability for the automotive industry to recover.If that wasn’t bad enough, Cohen argues that structurally, the supply chain may never be the same. In the old economic paradigm, the U.S. model was, to put it bluntly and impolitely, to exploit cheap Chinese labor. Now, China wants its citizens to have a taste of the good life. That means the country is no longer a hub for semiconductor production for everyone else but represents a supply source to feed domestic demand.Theoretically, that angle might benefit NIO stock relative to American EV manufacturers. But then again, Nio has made no secret about its international ambitions. If Nioever does come to the U.S., it will need to figure out the ultimate perplexing problem: how to make EVs compete with economy model combustion cars?As intriguing as its BaaS model is, it’s not going to solve the affordability problem affecting NIO stock and other EV companies.A Peculiar Technical SetupOne thing that gives me pause about NIO stock is the appearance of a pennant formation that began in early March of this year. If the pennant appeared as a consolidation following a sharp spike rally, most technical analysts would likely regard this as a continuation pattern; in other words, more bullishness ahead.However, the pennant is materializing following a steep corrective phase. Typically, the interpretation is bearish. But you just don’t know for sure since we’re in an emotionally charged market environment.My gut feeling is that we’re going to see further downside from here. Of course, this is just my opinion based on the outside fundamentals. Anything can happen and you should be prepared for all possible outcomes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":378258378,"gmtCreate":1619047483594,"gmtModify":1704718683517,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Please comment and like","listText":"Please comment and like","text":"Please comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/378258378","repostId":"2129803357","repostType":4,"repost":{"id":"2129803357","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1619035258,"share":"https://ttm.financial/m/news/2129803357?lang=&edition=fundamental","pubTime":"2021-04-22 04:00","market":"us","language":"en","title":"Wall Street rebounds after two-day decline; Netflix slides","url":"https://stock-news.laohu8.com/highlight/detail?id=2129803357","media":"Reuters","summary":"Nasdaq index outshines S&P 500 at closeNetflix falls as subscriber growth slowsVerizon shares fall a","content":"<ul><li>Nasdaq index outshines S&amp;P 500 at close</li><li>Netflix falls as subscriber growth slows</li><li>Verizon shares fall after Q1 results</li></ul><p>NEW YORK/BANGALORE, April 21 (Reuters) - Wall Street rallied on Wednesday, rebounding from a two-day decline, as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's    sell-off after its disappointing results.</p><p>Shares of Netflix slumped a day after the world's largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.</p><p>But stocks rallied throughout the day, building steam as the tech-heavy Nasdaq overtook the S&amp;P 500 in percentage gain shortly before the close.</p><p>Intuitive Surgical Inc    surged to an all-time high as its results trounced estimates. The maker of robotic surgical systems vied with Microsoft Corp    and Tesla Inc    for much of the session as the biggest contributor to the S&amp;P 500's    upside.</p><p>Nine of the 11 S&amp;P 500 sectors rose, with communication services   , led by Netflix, and the defensive utilities&nbsp;sectors falling.</p><p>Economically sensitive value stocks    rose at about double the gain in growth    as measured by the Russell 1000 indexes.</p><p>\"You take Netflix out of today's equation, it's simply a broad-based rally,\" said JJ Kinahan, chief market strategist at TD Ameritrade, adding technology shares still had room to run.</p><p>The VIX, CBOE's market volatility index, slid below 18, suggesting the market in days to come could be range-bound while also shrugging off a rebound in COVID infections, he said.</p><p>Analysts expect S&amp;P 500 companies to post first-quarter earnings growth of 30.9% from a year earlier, Refinitiv IBES data shows.</p><p>Netflix's results dashed expectations but technology remains a major market focus.</p><p>\"Investors feel more confident of the earnings growth prospects for technology,\" said Sam Stovall, chief investment strategist at CFRA Research in New York. \"They would rather gravitate toward the sure thing, which right now is tech stocks.\"</p><p>Unofficially, the Dow Jones Industrial Average    rose 0.94% to 34,139.02, the S&amp;P 500    gained 0.93% to 4,173.46 and the Nasdaq Composite    added 1.19% to 13,950.22.</p><p>Verizon Communications Inc    slid after it lost more wireless subscribers than expected in the first quarter. Shares of <a href=\"https://laohu8.com/S/TMUS\">T-Mobile US Inc</a>    and AT&amp;T Inc    rose.</p><p>U.S. railroad operator CSX Corp    fell after it missed estimates for first-quarter profit, hurt by frigid polar vortex temperatures, ongoing pandemic disruptions and higher fuel costs.</p><p>(Reporting by Herbert Lash, additional reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur and Richard Chang)</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>Wall Street rebounds after two-day decline; Netflix slides</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\">\nWall Street rebounds after two-day decline; Netflix slides\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\">2021-04-22 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul><li>Nasdaq index outshines S&amp;P 500 at close</li><li>Netflix falls as subscriber growth slows</li><li>Verizon shares fall after Q1 results</li></ul><p>NEW YORK/BANGALORE, April 21 (Reuters) - Wall Street rallied on Wednesday, rebounding from a two-day decline, as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's    sell-off after its disappointing results.</p><p>Shares of Netflix slumped a day after the world's largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.</p><p>But stocks rallied throughout the day, building steam as the tech-heavy Nasdaq overtook the S&amp;P 500 in percentage gain shortly before the close.</p><p>Intuitive Surgical Inc    surged to an all-time high as its results trounced estimates. The maker of robotic surgical systems vied with Microsoft Corp    and Tesla Inc    for much of the session as the biggest contributor to the S&amp;P 500's    upside.</p><p>Nine of the 11 S&amp;P 500 sectors rose, with communication services   , led by Netflix, and the defensive utilities&nbsp;sectors falling.</p><p>Economically sensitive value stocks    rose at about double the gain in growth    as measured by the Russell 1000 indexes.</p><p>\"You take Netflix out of today's equation, it's simply a broad-based rally,\" said JJ Kinahan, chief market strategist at TD Ameritrade, adding technology shares still had room to run.</p><p>The VIX, CBOE's market volatility index, slid below 18, suggesting the market in days to come could be range-bound while also shrugging off a rebound in COVID infections, he said.</p><p>Analysts expect S&amp;P 500 companies to post first-quarter earnings growth of 30.9% from a year earlier, Refinitiv IBES data shows.</p><p>Netflix's results dashed expectations but technology remains a major market focus.</p><p>\"Investors feel more confident of the earnings growth prospects for technology,\" said Sam Stovall, chief investment strategist at CFRA Research in New York. \"They would rather gravitate toward the sure thing, which right now is tech stocks.\"</p><p>Unofficially, the Dow Jones Industrial Average    rose 0.94% to 34,139.02, the S&amp;P 500    gained 0.93% to 4,173.46 and the Nasdaq Composite    added 1.19% to 13,950.22.</p><p>Verizon Communications Inc    slid after it lost more wireless subscribers than expected in the first quarter. Shares of <a href=\"https://laohu8.com/S/TMUS\">T-Mobile US Inc</a>    and AT&amp;T Inc    rose.</p><p>U.S. railroad operator CSX Corp    fell after it missed estimates for first-quarter profit, hurt by frigid polar vortex temperatures, ongoing pandemic disruptions and higher fuel costs.</p><p>(Reporting by Herbert Lash, additional reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur and Richard Chang)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","T":"美国电话电报",".DJI":"道琼斯","MSFT":"微软","NFLX":"奈飞","CSX":"CSX运输",".SPX":"S&P 500 Index","ISRG":"直觉外科公司",".IXIC":"NASDAQ Composite","TMUS":"T-Mobile US Inc","VZ":"威瑞森","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129803357","content_text":"Nasdaq index outshines S&P 500 at closeNetflix falls as subscriber growth slowsVerizon shares fall after Q1 resultsNEW YORK/BANGALORE, April 21 (Reuters) - Wall Street rallied on Wednesday, rebounding from a two-day decline, as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's    sell-off after its disappointing results.Shares of Netflix slumped a day after the world's largest streaming service said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter.But stocks rallied throughout the day, building steam as the tech-heavy Nasdaq overtook the S&P 500 in percentage gain shortly before the close.Intuitive Surgical Inc    surged to an all-time high as its results trounced estimates. The maker of robotic surgical systems vied with Microsoft Corp    and Tesla Inc    for much of the session as the biggest contributor to the S&P 500's    upside.Nine of the 11 S&P 500 sectors rose, with communication services   , led by Netflix, and the defensive utilities sectors falling.Economically sensitive value stocks    rose at about double the gain in growth    as measured by the Russell 1000 indexes.\"You take Netflix out of today's equation, it's simply a broad-based rally,\" said JJ Kinahan, chief market strategist at TD Ameritrade, adding technology shares still had room to run.The VIX, CBOE's market volatility index, slid below 18, suggesting the market in days to come could be range-bound while also shrugging off a rebound in COVID infections, he said.Analysts expect S&P 500 companies to post first-quarter earnings growth of 30.9% from a year earlier, Refinitiv IBES data shows.Netflix's results dashed expectations but technology remains a major market focus.\"Investors feel more confident of the earnings growth prospects for technology,\" said Sam Stovall, chief investment strategist at CFRA Research in New York. \"They would rather gravitate toward the sure thing, which right now is tech stocks.\"Unofficially, the Dow Jones Industrial Average    rose 0.94% to 34,139.02, the S&P 500    gained 0.93% to 4,173.46 and the Nasdaq Composite    added 1.19% to 13,950.22.Verizon Communications Inc    slid after it lost more wireless subscribers than expected in the first quarter. Shares of T-Mobile US Inc    and AT&T Inc    rose.U.S. railroad operator CSX Corp    fell after it missed estimates for first-quarter profit, hurt by frigid polar vortex temperatures, ongoing pandemic disruptions and higher fuel costs.(Reporting by Herbert Lash, additional reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Anil D'Silva, Sriraj Kalluvila and Arun Koyyur and Richard Chang)","news_type":1},"isVote":1,"tweetType":1,"viewCount":228,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575378956741249","authorId":"3575378956741249","name":"Kiattt","avatar":"https://community-static.tradeup.com/news/e6d09fa1316db5994a40917a273216eb","crmLevel":6,"crmLevelSwitch":1,"idStr":"3575378956741249","authorIdStr":"3575378956741249"},"content":"Done. Pls reply to comment ty","text":"Done. Pls reply to comment ty","html":"Done. Pls reply to comment ty"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190491682,"gmtCreate":1620641039946,"gmtModify":1704345964545,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Comment!","listText":"Comment!","text":"Comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/190491682","repostId":"2134686276","repostType":4,"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372862470,"gmtCreate":1619191996190,"gmtModify":1704721118477,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Like and comment thanks!","listText":"Like and comment thanks!","text":"Like and comment thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/372862470","repostId":"1149578575","repostType":4,"repost":{"id":"1149578575","kind":"news","pubTimestamp":1619191312,"share":"https://ttm.financial/m/news/1149578575?lang=&edition=fundamental","pubTime":"2021-04-23 23:21","market":"us","language":"en","title":"Elon Musk wants SpaceX to reach Mars so humanity is not a ‘single-planet species’","url":"https://stock-news.laohu8.com/highlight/detail?id=1149578575","media":"CNBC","summary":"Elon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.“We don’t want to be one of those single-planet species; we want to be a multi-planet species,” Musk said on Friday.While the company is flying astronauts with its Falcon 9 rockets and Crew Dragon capsules, SpaceX is working to develop Starship: An enormous stainless steel rocket, designed to be fully reusable and carry people to the moon and Mars.SpaceX founder and CEO Elon Musk remains focused o","content":"<div>\n<p>KEY POINTS\n\nElon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.\n“We don’t want to be one of those single-planet species; we want to be a multi-planet ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk wants SpaceX to reach Mars so humanity is not a ‘single-planet species’</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\">\nElon Musk wants SpaceX to reach Mars so humanity is not a ‘single-planet species’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 23:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nElon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.\n“We don’t want to be one of those single-planet species; we want to be a multi-planet ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/04/23/elon-musk-aiming-for-mars-so-humanity-is-not-a-single-planet-species.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1149578575","content_text":"KEY POINTS\n\nElon Musk remains focused on his vision for SpaceX: Establishing a permanent human presence on Mars.\n“We don’t want to be one of those single-planet species; we want to be a multi-planet species,” Musk said on Friday.\nWhile the company is flying astronauts with its Falcon 9 rockets and Crew Dragon capsules, SpaceX is working to develop Starship: An enormous stainless steel rocket, designed to be fully reusable and carry people to the moon and Mars.\n\nSpaceX founder and CEO Elon Musk remains focused on his vision for the company: Establishing a permanent human presence on Mars, with its Starship rockets carrying people to and from the red planet.\n“We don’t want to be one of those single planet species, we want to be a multi-planet species,” Musk said on Friday, speaking after the company launched its Crew-2 mission to orbit.\n“It’s been now almost half a century since humans were last on the moon. That’s too long, we need to get back there and have a permanent base on the moon — again, like a big permanently occupied base on the moon. And then build a city on Mars to become a spacefaring civilization, a multi-planet species,” Musk also said.\nStarship is the enormous stainless steel rocket that SpaceX has been building and testing at its development facility in Boca Chica, Texas. Starship’s goal is to launch cargo and people on missions to the moon and Mars. Current Starship prototypes stand at about 150 feet tall, or about the size of a 15-story building, and each one is powered by three Raptor rocket engines.\nStarship prototype rocket SN10 stands on the launchpad at the company’s facility in Boca Chica, Texas.\nMusk has previously estimated that it will cost about $5 billion to fully develop Starship, although SpaceX has not disclosed how much it has spent on the program to date. The company has steadily raised funds in the past few years, to fund both Starship and its similarly ambitious Starlink project, with SpaceX’s valuation soaring to about $74 billion— making it one of the most valuable private companies in the world.\nAdditionally, SpaceX last week won a $2.9 billion contract from NASA, to help the space agency land astronauts on the moon’s surface with the first crewed mission targeting 2024.\n″[Starship has] mostly been funded internally thus far and it’s pretty expensive. As you can tell, if you’ve been watching videos, we’ve blown up a few of them,” Musk said.\nThe company has performed multiple successful test flights of Starship, although landing attempts after the last four high-altitude flights ended in fiery explosions. Despite the the prototypes’ destruction, SpaceX sees the test flights as progress toward creating a rocket that is fully reusable. SpaceX’s current Falcon fleet of rockets is partially reusable, as the company can land and reuse the rocket’s boosters.\nBut Musk hopes Starship transforms space travel into something more akin to commercial air travel. The rocket’s enormous size would also make it capable of launching several times as much cargo at once — for comparison, while SpaceX’s Falcon 9 rockets can send as many as 60 Starlink satellites at a time, SpaceX says Starship will be able to launch 400 Starlink satellites at a time.\nMusk remains “highly confident” that SpaceX will land humans on Mars by 2026, saying last December that it’s an achievable goal “about six years from now.” He added that SpaceX plans to send a Starship rocket without crew “in two years.”\nAn artist rendering of SpaceX’s Starship rockets on the surface of Mars.\nIn the meantime, SpaceX has many milestones to go before Starship can carry passengers. The rocket has yet to reach orbit. Musk last year said that the company will fly “hundreds of missions with satellites before we put people on board.”\nMusk may be focused on Mars, but the hurdles of Starship’s development are not lost on the space billionaire.\n“It’s a tough vehicle to build because we’re trying to crack this nut of a rapid and fully reusable rocket,” Musk said. “But the thing that’s really important to revolutionize space is a rapidly reusable rocket that’s reliable, too.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":486,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581495146931772","authorId":"3581495146931772","name":"Ben01","avatar":"https://static.tigerbbs.com/b158a0cc5a97dd1cf647bb3d21cf2c9f","crmLevel":2,"crmLevelSwitch":0,"idStr":"3581495146931772","authorIdStr":"3581495146931772"},"content":"Comment back already","text":"Comment back already","html":"Comment back already"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108600133,"gmtCreate":1620015444222,"gmtModify":1704337405473,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Comment and like!","listText":"Comment and like!","text":"Comment and like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/108600133","repostId":"1121605010","repostType":4,"repost":{"id":"1121605010","kind":"news","pubTimestamp":1620014543,"share":"https://ttm.financial/m/news/1121605010?lang=&edition=fundamental","pubTime":"2021-05-03 12:02","market":"us","language":"en","title":"4 Reasons Baidu Could Make You Rich","url":"https://stock-news.laohu8.com/highlight/detail?id=1121605010","media":"seekingalpha","summary":"Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P","content":"<p><b>Summary</b></p>\n<ul>\n <li>Strong corporate earnings and great economic data keeps the market grinding higher. The S&amp;P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.</li>\n <li>Fortunately, whatever your goals, yield, value, growth, or total returns, something great is always on sale if you know where to look.</li>\n <li>Baidu is the Google of China, and planning on increasing spending by 30% annually over the coming years, focusing on AI, driverless cars, and streaming.</li>\n <li>In recent weeks it plunged 40%, partially due to forced hedge fund margin call selling. This creates a potentially exceptional opportunity to be \"greedy when others are fearful\" about this speculative hyper-growth blue-chip.</li>\n <li>I recently bought a starter position in Baidu, because it's 31% undervalued and analysts think it could double in the next three years, and almost triple over the next five. For anyone comfortable with the complex risk profile of Chinese tech giants, Baidu is one of the most reasonable and prudent hyper-growth blue-chips you can buy today.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fce5597f98f5e2431c73edea32173192\" tg-width=\"1536\" tg-height=\"693\"><span>Photo by DNY59/iStock via Getty Images</span></p>\n<p>Over seven years as an analyst I've studied the greatest investors in history, to see what strategies made them legends.</p>\n<p><b>Greatest Investors In History: Masters Of Financial Science</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Name</b></td>\n   <td><b>Returns</b></td>\n   <td><b>Time Horizon</b></td>\n   <td><p><b>Most Famous For</b></p></td>\n  </tr>\n  <tr>\n   <td>Jim Simmons (Co-Founder Renaissance Technologies)</td>\n   <td>71.8% CAGR</td>\n   <td>1994 to 2014 (best investing record ever recorded)</td>\n   <td><p>Pure Quant Based Investing</p></td>\n  </tr>\n  <tr>\n   <td>Joel Greenblatt</td>\n   <td>40% CAGR</td>\n   <td>21 years at Gotham Capital</td>\n   <td><p><b>\"Above-Average Quality Companies At Below-Average Prices\"</b></p></td>\n  </tr>\n  <tr>\n   <td>Peter Lynch</td>\n   <td>29.2% CAGR at Fidelity's Magellan Fund</td>\n   <td>1977 to 1990 (13 years)</td>\n   <td><p><b>\"Growth At A Reasonable Price\"</b></p></td>\n  </tr>\n  <tr>\n   <td>Bill Miller (Legg Mason Value Trust 1990 to 2006)</td>\n   <td>22.8% CAGR and beat the S&amp;P 500 for 15 consecutive years</td>\n   <td>16 years</td>\n  </tr>\n  <tr>\n   <td>Warren Buffett</td>\n   <td>20.8% CAGR at Berkshire</td>\n   <td>55 Years</td>\n   <td><p><b>Greedy when others are fearful</b></p></td>\n  </tr>\n  <tr>\n   <td>Benjamin Graham</td>\n   <td>20% CAGR vs 12% S&amp;P 500</td>\n   <td>1934 to 1956 (22 years)</td>\n   <td><b>Margin of Safety</b></td>\n  </tr>\n  <tr>\n   <td>Edward Thorp</td>\n   <td>20+% CAGR</td>\n   <td>over 30 years</td>\n   <td><p>invented card counting,<b>pure statistically-based investing</b></p></td>\n  </tr>\n  <tr>\n   <td>Charlie Munger</td>\n   <td>19.80%</td>\n   <td>1962 to 1975</td>\n   <td><p><b>Wonderful companies at fair prices</b></p></td>\n  </tr>\n  <tr>\n   <td>Howard Marks</td>\n   <td>19% CAGR</td>\n   <td>Since 1995</td>\n   <td><p><b>Valuation Mean Reversion</b></p></td>\n  </tr>\n  <tr>\n   <td>Anne Scheiber</td>\n   <td>18.3% CAGR</td>\n   <td>50 years</td>\n   <td><p>Turned $5K into $22 million with no formal training, purely with<b>tax-efficient buy and hold blue-chip investing</b>.</p></td>\n  </tr>\n  <tr>\n   <td>John Templeton</td>\n   <td>300% from 1939 to 1943, 15.8% CAGR from 1954 to 1992</td>\n   <td>38 years</td>\n   <td>Market Cycles</td>\n  </tr>\n  <tr>\n   <td>Carl Icahn</td>\n   <td>14.6% CAGR vs 5.6% S&amp;P 500</td>\n   <td><p>2001 to 2016 (15 Years)</p></td>\n  </tr>\n  <tr>\n   <td>David Swenson</td>\n   <td>13.9% CAGR at Yale's Endowment (includes bonds and alternative assets) vs 10.7% S&amp;P 500</td>\n   <td>30 years</td>\n   <td><p>Alternative Asset Allocation</p></td>\n  </tr>\n  <tr>\n   <td>Geraldine Weiss</td>\n   <td>11.2% vs 9.8% S&amp;P 500</td>\n   <td>37 years</td>\n   <td><p><b>Best risk-adjusted track record</b>of any newsletter over 30 years according to Hubbert Financial Digest, popularized<b>dividend yield theory</b>(the only strategy she employed)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Combining these lessons, along with decades of market studies from leading research institutions and blue-chip analyst firms, I've determined that there are six fundamentals that over the long term will make you rich (assuming you have discretionary savings to invest of course).</p>\n<ul>\n <li>Portfolio risk-management</li>\n <li>safety</li>\n <li>quality</li>\n <li>yield</li>\n <li>growth</li>\n <li>and value</li>\n</ul>\n<p>When combined with patience, time, and discipline, these are what made the greatest investors in history the legends they are today.</p>\n<p>You and I may never match the returns of the legends, but if we practice disciplined financial science we can avoid costly mistakes, and focus on the highest probability/low-risk blue-chips.</p>\n<blockquote>\n It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.\" - Charlie Munger\n</blockquote>\n<p>These are the \"consistently not stupid\" decisions that made Charlie Munger and Warren Buffett so successful.</p>\n<p>Today I want to explain why I've recently opened a starter tracking position in speculative hyper-growth blue-chip Baidu (BIDU).</p>\n<p><img src=\"https://static.tigerbbs.com/d78b7d254783a9f8afc60962aa7d03ee\" tg-width=\"640\" tg-height=\"390\"></p>\n<p>All Chinese tech giants are suffering a bear market right now. But notice how Baidu recently fell 40% in a matter of weeks.</p>\n<blockquote>\n Baidu was also held by now-infamous hedge fund Archegos Capital Management at that time, which blew up during the same week. When the highly levered Archegos was unable to meet a margin call, banks seized Archegos' assets, including Baidu, and sold them off in massive blocks, accelerating Baidu's plunge.\" -Motley Fool\n</blockquote>\n<p>Institutional forced selling is one of the best opportunities for prudent long-term investors to buy the world's highest quality companies at mouth-watering prices.</p>\n<p><img src=\"https://static.tigerbbs.com/e09c272fe0a5f7a5052ea3021630d643\" tg-width=\"640\" tg-height=\"390\"></p>\n<p>Lowe's (LOW) and Realty Income (O) both plunged 25% on March 16th, due to institutional forced selling.</p>\n<p>In other words, when hedge funds get margin calls, they become the ultimate dumb money. Taking the other side of those trades can be the way to earn Buffett-like returns, through buying and holding blue-chip investing.</p>\n<p>So let me explain the four reasons why I consider it time to get greedy when others are fearful on Baidu.</p>\n<blockquote>\n Today I buy what others won't, so tomorrow I earn returns others can't.\"\n</blockquote>\n<blockquote>\n  - Paraphrase of Jerry Rice\n</blockquote>\n<p><b>Reason 1: A Speculative Blue-Chip Quality Company</b></p>\n<p>According to the 2017 study<i>Do Stocks Outperform Treasury Bills?</i>by Hendrik Bessembinder of Arizona State University's W.P. Carey School of Business 52% of all stocks, lose money over time.</p>\n<p>This study looked at 26,000 companies from 1926 to 2016 and found that about 12% went to zero.</p>\n<p><img src=\"https://static.tigerbbs.com/a6f826f65373ae3a2e4061f906c54bb2\" tg-width=\"640\" tg-height=\"508\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5868a6e0418dbe8596b0c667120b3a53\" tg-width=\"640\" tg-height=\"440\"><span>(Source: Bessembinder et al)</span></p>\n<p>From 1926 to 2016 over 3,000 US companies listed on US exchanges went bankrupt. 1,100 or about 4%, delivered 100% of net positive returns. Just 48% of stocks delivered positive returns.</p>\n<p>In other words, safety and quality are what can help you avoid the value traps that don't make any money or lose all of your savings.</p>\n<p>The Dividend Kings quality scores factor in 143 fundamental metrics covering</p>\n<ul>\n <li>dividend safety</li>\n <li>balance sheet strength</li>\n <li>short and long-term bankruptcy risk</li>\n <li>accounting and corporate fraud risk</li>\n <li>profitability and business model</li>\n <li>cost of capital</li>\n <li>long-term sustainability (ESG scores and trends from MSCI, Morningstar, and Reuters'/Refinitiv)</li>\n <li>management quality</li>\n <li>dividend friendly corporate culture/income dependability</li>\n <li>long-term total returns (a Ben Graham sign of quality)</li>\n</ul>\n<p>Our model actually includes over 1,000 metrics if you count everything factored in by eight rating agencies we use to assess fundamental risk.</p>\n<p>Every metric was selected based on</p>\n<ul>\n <li>decades of empirical data</li>\n <li>the experience of the greatest investors in history</li>\n <li>eight rating agencies</li>\n <li>and what blue-chip economists and analyst firms consider most closely correlated to a company's long-term success.</li>\n</ul>\n<p>Baidu's quality is 9/12 speculative blue-chip, meaning I recommend a 2.5% max risk cap position sizing.</p>\n<p><b>Dividend Kings Quality Rating System</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Quality Score</b></td>\n   <td><b>Meaning</b></td>\n   <td><b>Max Invested Capital Risk Recommendation</b></td>\n   <td><b>Margin Of Safety Potentially Good Buy</b></td>\n   <td><b>Strong Buy</b></td>\n   <td><b>Very Strong Buy</b></td>\n   <td><p><b>Ultra-Value Buy</b></p></td>\n  </tr>\n  <tr>\n   <td>3</td>\n   <td>Terrible, Very High Long-Term Bankruptcy Risk</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>4</td>\n   <td>Very Poor</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>Poor</td>\n   <td>0%</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td>NA (avoid)</td>\n   <td><p>NA (avoid)</p></td>\n  </tr>\n  <tr>\n   <td>6</td>\n   <td>Below-Average, Fallen Angels (very speculative)</td>\n   <td>1%</td>\n   <td>45%</td>\n   <td>55%</td>\n   <td>65%</td>\n   <td>75%</td>\n  </tr>\n  <tr>\n   <td>7</td>\n   <td>Average (Relative to S&amp;P 500)</td>\n   <td>2.5%</td>\n   <td>35%</td>\n   <td>45%</td>\n   <td>55%</td>\n   <td>65%</td>\n  </tr>\n  <tr>\n   <td>8</td>\n   <td>Above-Average</td>\n   <td>5% (unless speculative then 2.5%)</td>\n   <td>25% to 30%</td>\n   <td>35% to 40%</td>\n   <td>45% to 50%</td>\n   <td><p>55% to 60%</p></td>\n  </tr>\n  <tr>\n   <td><b>9</b></td>\n   <td><b>Blue-Chip</b></td>\n   <td>7% (unless<b>speculative</b>then<b>2.5%</b>)</td>\n   <td>20% to<b>25%</b></td>\n   <td>30% to<b>35%</b></td>\n   <td>40% to<b>45%</b></td>\n   <td><p>50% to<b>55%</b></p></td>\n  </tr>\n  <tr>\n   <td>10</td>\n   <td>SWAN (a higher caliber of Blue-Chip)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>15% to 20%</td>\n   <td>25% to 30%</td>\n   <td>35% to 40%</td>\n   <td><p>45% to 50%</p></td>\n  </tr>\n  <tr>\n   <td>11</td>\n   <td>Super SWAN (exceptionally dependable blue-chips)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>10% to 15%</td>\n   <td>20% to 25%</td>\n   <td>30% to 35%</td>\n   <td><p>40% to 45%</p></td>\n  </tr>\n  <tr>\n   <td>12</td>\n   <td>Ultra SWAN (as close to perfect companies as exist)</td>\n   <td>7% (unless speculative then 2.5%)</td>\n   <td>5% to 10%</td>\n   <td>15% to 20%</td>\n   <td>25% to 30%</td>\n   <td><p>35% to 40%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>What exactly makes Baidu a speculative blue-chip?</p>\n<p><b>Balance Sheet Safety</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating</b></td>\n   <td><b>Dividend Kings Safety Score (75 Safety Metric Model)</b></td>\n   <td><b>Approximate Dividend Cut Risk (Average Recession)</b></td>\n   <td><p><b>Approximate Dividend Cut Risk In Pandemic Level Recession</b></p></td>\n  </tr>\n  <tr>\n   <td>1 (very unsafe)</td>\n   <td>0% to 20%</td>\n   <td>over 4%</td>\n   <td>16+%</td>\n  </tr>\n  <tr>\n   <td>2 (unsafe average)</td>\n   <td>21% to 40%</td>\n   <td>over 2%</td>\n   <td>8% to 16%</td>\n  </tr>\n  <tr>\n   <td>3 (average)</td>\n   <td>41% to 60%</td>\n   <td>2%</td>\n   <td>4% to 8%</td>\n  </tr>\n  <tr>\n   <td><b>4 (safe)</b></td>\n   <td><b>61% to 80%</b></td>\n   <td><b>1%</b></td>\n   <td><b>2% to 4%</b></td>\n  </tr>\n  <tr>\n   <td>5 (very safe)</td>\n   <td>81% to 100%</td>\n   <td>0.5%</td>\n   <td>1% to 2%</td>\n  </tr>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>76%</b></td>\n   <td><b>A stable rating from Fitch, A3 (A- equivalent) stable rating Moody's</b></td>\n   <td><b>0.66% to 2.5% 30-year default/bankruptcy risk</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Long-Term Dependability</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Company</b></td>\n   <td><b>DK Long-Term Dependability Score</b></td>\n   <td><b>Interpretation</b></td>\n   <td><b>Points</b></td>\n  </tr>\n  <tr>\n   <td>S&amp;P 500/Industry Average</td>\n   <td>58%</td>\n   <td>Average Dependability</td>\n   <td>2</td>\n  </tr>\n  <tr>\n   <td>Non-Dependable Companies</td>\n   <td>31% or below</td>\n   <td>Poor Dependability</td>\n   <td>1</td>\n  </tr>\n  <tr>\n   <td>Relatively Dependable Companies</td>\n   <td>32% to 70%</td>\n   <td>Below to Above-Average Dependability</td>\n   <td>2</td>\n  </tr>\n  <tr>\n   <td>Very Dependable Companies</td>\n   <td>71% to 80%</td>\n   <td>Very Dependable</td>\n   <td>3</td>\n  </tr>\n  <tr>\n   <td>Exceptionally Dependable Companies</td>\n   <td>81% or higher</td>\n   <td>Exceptional Dependability</td>\n   <td>4</td>\n  </tr>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>67%</b></td>\n   <td><b>Above-Average Dependability</b></td>\n   <td><b>2</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Overall Quality</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>BIDU</b></td>\n   <td><b>Final Score</b></td>\n   <td><b>Rating</b></td>\n  </tr>\n  <tr>\n   <td>Safety</td>\n   <td>76%</td>\n   <td>4/5</td>\n  </tr>\n  <tr>\n   <td>Business Model</td>\n   <td>80%</td>\n   <td>3/3</td>\n  </tr>\n  <tr>\n   <td>Dependability</td>\n   <td>67%</td>\n   <td>2/4</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>73%</b></td>\n   <td><b>9/12 Speculative Blue-Chip</b></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Baidu is the 245th Highest Quality Master List Company (Out of 495) = 49th Percentile</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/927ef17638b4bbf9db4e34f1aeb01a61\" tg-width=\"640\" tg-height=\"241\"><span>(Source: DK Safety &amp; Quality Tool) updated at the end of each day, sorted by overall quality score</span></p>\n<ul>\n <li>green = potentially good buy or better</li>\n <li>blue = potentially reasonable buy</li>\n <li>yellow = hold</li>\n <li>red = potential trim/sell</li>\n</ul>\n<p>BIDU's 73% quality score means it's the 245th highest quality company on the DK 500 Master List. This list includes the world's highest quality companies including</p>\n<ul>\n <li>all dividend champions</li>\n <li>all dividend aristocrats</li>\n <li>all dividend kings</li>\n <li>all 12/12 Ultra SWANs (as close to perfect quality as exists on Wall Street, think wide moat aristocrats)</li>\n <li>numerous global aristocrats (such as BTI, ENB, and NVS)</li>\n</ul>\n<p>BIDU is about average quality compared to the world's elite companies and similar in quality to such 9/12 blue-chips and, 10/12 SWANs, as</p>\n<ul>\n <li>Qualcomm (QCOM)</li>\n <li>Becton, Dickinson and Company (BDX) - dividend aristocrat</li>\n <li>W. P. Carey (WPC)</li>\n <li>Sonoco Products (SON) - dividend champion</li>\n <li>H.B. Fuller (FUL) - dividend king</li>\n <li>MetLife (MET)</li>\n <li>Digital Realty Trust (DLR)</li>\n <li>Leggett &amp; Platt (LEG) - dividend aristocrat</li>\n <li>V.F. Corp (VFC) - dividend aristocrat</li>\n <li>Bank of New York Mellon (BK)</li>\n</ul>\n<p>Baidu has a strong cash-rich balance sheet, though it is taking on extra leverage in order to fund its ambitious growth efforts.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d4c7bc8d9da039967a0ce9e435f7b6eb\" tg-width=\"449\" tg-height=\"462\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Including leasing expenses, BIDU has 2X as much cash as debt.</p>\n<p>Fitch and Moody's rate Baidu A stable and A3 (A- equivalent) stable outlooks, indicating 0.66% to 2.5% 30-year default/bankruptcy risk.</p>\n<p>Analysts expect much higher spending in the short-term to cause leverage to increase, though rating agencies don't expect this to be permanent.</p>\n<p>The key safety ratios with Baidu are the F, Z, and M scores, advanced accounting ratios created by leading research institutions that use asset ratios scanned from quarterly filings.</p>\n<ul>\n <li>F-score measures short-term bankruptcy risk</li>\n <li>Z-score measures 2-year bankruptcy risk (with 84% to 92% historical accuracy)</li>\n <li>M-score measures accounting fraud risk (with 76% historical accuracy)</li>\n</ul>\n<p>7/9 is very safe on the F-score = very low short-term bankruptcy risk.</p>\n<p>3.59 vs 3+ very safe and 9.51 historical, confirms the A-credit ratings and low long-term risk of losing all your money.</p>\n<p>And the M-score of -2.42 indicates a significantly less than 17.5% probability that Baidu is cooking its books.</p>\n<p><img src=\"https://static.tigerbbs.com/0593cdfc392caf38a9d7ca42c482c359\" tg-width=\"640\" tg-height=\"245\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6110ac3a73c5c935e0778da21e6eb62e\" tg-width=\"640\" tg-height=\"297\"><span>(Source: Gurufocus)</span></p>\n<p>BIDU's historically unsafe M-score has been improving and became safe at the end of 2014 and has remained so for the last seven years.</p>\n<ul>\n <li>its safety and quality score still get dinged though because we factor in every important metric so we don't miss any warning signs</li>\n</ul>\n<p>The M-score is 76% historically accurate at catching accounting fraud and 82.5% accurate at finding companies with honest accounting.</p>\n<p>Combined with its credit ratings and risk ratings from 5 different rating agencies, plus its auditors, I can say with relatively high confidence that Baidu is not the next Luckin Coffee.</p>\n<p>Quality is a proven alpha factor, one of seven that beats the market over the long term.</p>\n<p><img src=\"https://static.tigerbbs.com/d4868372d29cef8d5b07fc5a538fb58e\" tg-width=\"640\" tg-height=\"273\"></p>\n<p>On Wall Street, profitability over time is the most accurate proxy for quality.</p>\n<ul>\n <li>credit ratings are one of the best qualitative quality proxies</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b0c8a6a2913d554a5c9780f869d7a887\" tg-width=\"445\" tg-height=\"430\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Baidu's profitability is historically in the top 20% of its peers, confirming a wide and stable moat.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>Industry Percentile</b></td>\n   <td><b>Major Interactive Media Companies More Profitable Than BIDU (Out of 543)</b></td>\n  </tr>\n  <tr>\n   <td>Operating Margin</td>\n   <td>67.35</td>\n   <td>177</td>\n  </tr>\n  <tr>\n   <td>Net Margin</td>\n   <td>81.26</td>\n   <td>102</td>\n  </tr>\n  <tr>\n   <td>Return On Equity</td>\n   <td>67.86</td>\n   <td>175</td>\n  </tr>\n  <tr>\n   <td>Return On Assets</td>\n   <td>68.47</td>\n   <td>171</td>\n  </tr>\n  <tr>\n   <td>Return On Capital</td>\n   <td>69.61</td>\n   <td>165</td>\n  </tr>\n  <tr>\n   <td><b>Average</b></td>\n   <td><b>70.91</b></td>\n   <td><b>158</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: Gurufocus Premium)</i></p>\n<p>Over the last year, increased growth spending has reduced profitability to the top 29% of peers, though that's expected to recover in the future.</p>\n<ul>\n <li>for example, returns on equity are expected to rise 10% by 2024</li>\n</ul>\n<p>Joel Greenblatt defined quality by return on capital, his gold standard proxy for quality and moatiness.</p>\n<ul>\n <li>operating income (EBIT)/operating capital (the money it takes to run the business for a year)</li>\n</ul>\n<p>Greenblatt's entire legendary track record, 40% annual returns for 21 years, was done by combining high ROC with low valuations.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a5d43fa9d5032a24362f75054f2a9e93\" tg-width=\"640\" tg-height=\"292\"><span>(Source: Gurufocus Premium)</span></p>\n<p>Even with heavy growth spending in recent years, Baidu's returns on capital are very impressive.</p>\n<p>The average Master List company has 88% ROC.</p>\n<p>The average aristocrat 83%.</p>\n<p>The average Ultra SWAN 87%.</p>\n<p>Over the past year, BIDU's ROC has been 103% and in Q4 it was 95%.</p>\n<p>Analysts expect that in the next few years, ROC will revert back to its historical 205%.</p>\n<p>A level of profitability that, according to Joel Greenblatt, would make BIDU one of the highest quality companies in the world.</p>\n<p>Baidu's future growth is expected to come from aggressive investments into driverless cars (long-term) and AI and streaming in the short and medium term.</p>\n<p><b>Baidu Growth Spending Consensus Forecast</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>SG&amp;A</b></td>\n   <td><b>R&amp;D</b></td>\n   <td><b>Capex</b></td>\n   <td><b>Total Growth Spending</b></td>\n   <td><b>Sales</b></td>\n   <td><p><b>Growth Spending/Sales</b></p></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>$2,792</td>\n   <td>$3,016</td>\n   <td>$993</td>\n   <td>$4,009</td>\n   <td>$16,548</td>\n   <td>24.23%</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>$3,574</td>\n   <td>$3,554</td>\n   <td>$1,893</td>\n   <td>$5,447</td>\n   <td>$19,517</td>\n   <td>27.91%</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>$3,974</td>\n   <td>$4,062</td>\n   <td>$2,220</td>\n   <td>$6,282</td>\n   <td>$22,235</td>\n   <td>28.25%</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>$5,049</td>\n   <td>$5,858</td>\n   <td>$2,719</td>\n   <td>$8,577</td>\n   <td>$25,258</td>\n   <td>33.96%</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>$1,504</td>\n   <td>NA</td>\n   <td>$30,071</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>2025</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>2026</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>21.83%</b></td>\n   <td><b>24.77%</b></td>\n   <td><b>10.94%</b></td>\n   <td><b>28.85%</b></td>\n   <td><b>16.10%</b></td>\n   <td><b>NA</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Historically Baidu spends about 17% of its revenue on growth. By 2023 that's expected to double.</p>\n<p>Total growth spending is expected to grow at almost 30% annually for the next three years.</p>\n<p>Baidu Consensus Profit Forecast</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>Sales</b></td>\n   <td><b>FCF</b></td>\n   <td><b>EBITDA</b></td>\n   <td><b>EBIT (Operating Income)</b></td>\n   <td><b>Net Income</b></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>$16,548</td>\n   <td>$2,106</td>\n   <td>$4,251</td>\n   <td>$2,216</td>\n   <td>$3,473</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>$19,517</td>\n   <td>$3,947</td>\n   <td>$4,734</td>\n   <td>$2,629</td>\n   <td>$2,760</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>$22,235</td>\n   <td>$5,013</td>\n   <td>$5,812</td>\n   <td>$3,400</td>\n   <td>$3,381</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>$25,258</td>\n   <td>$5,854</td>\n   <td>$6,730</td>\n   <td>$4,163</td>\n   <td>$4,226</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>$30,071</td>\n   <td>$7,421</td>\n   <td>NA</td>\n   <td>$6,195</td>\n   <td>$5,268</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>16.10%</b></td>\n   <td><b>37.01%</b></td>\n   <td><b>16.55%</b></td>\n   <td><b>29.31%</b></td>\n   <td><b>10.98%</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Management's guidance, which is the basis for these consensus forecasts, is for strong revenue growth. Net margins are expected to compress but cash flows are expected to soar.</p>\n<p>Free cash flow, the ultimate source of all intrinsic value according to Ben Graham and Warren Buffett, is expected to more than triple by 2024.</p>\n<p>Baidu Consensus Margin Forecast</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Year</b></td>\n   <td><b>FCF Margin</b></td>\n   <td><b>EBITDA Margin</b></td>\n   <td><b>EBIT (Operating) Margin</b></td>\n   <td><b>Net Margin</b></td>\n  </tr>\n  <tr>\n   <td>2020</td>\n   <td>12.7%</td>\n   <td>25.7%</td>\n   <td>13.4%</td>\n   <td>21.0%</td>\n  </tr>\n  <tr>\n   <td>2021</td>\n   <td>20.2%</td>\n   <td>24.3%</td>\n   <td>13.5%</td>\n   <td>14.1%</td>\n  </tr>\n  <tr>\n   <td>2022</td>\n   <td>22.5%</td>\n   <td>26.1%</td>\n   <td>15.3%</td>\n   <td>15.2%</td>\n  </tr>\n  <tr>\n   <td>2023</td>\n   <td>23.2%</td>\n   <td>26.6%</td>\n   <td>16.5%</td>\n   <td>16.7%</td>\n  </tr>\n  <tr>\n   <td>2024</td>\n   <td>24.7%</td>\n   <td>NA</td>\n   <td>20.6%</td>\n   <td>17.5%</td>\n  </tr>\n  <tr>\n   <td><b>Annualized Growth</b></td>\n   <td><b>18.01%</b></td>\n   <td><b>1.23%</b></td>\n   <td><b>11.37%</b></td>\n   <td><b>-4.42%</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: FactSet Research Terminal)</i></p>\n<p>Baidu's profitability is ultimately expected to improve, though net margins won't until its major growth initiatives are over.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ee8691866fef56c1dd17062657e10811\" tg-width=\"640\" tg-height=\"320\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU ended 2020 with $5.6 billion in cash, and that's expected to rise to $22 billion by 2023, and potentially nearly $60 billion by 2024.</p>\n<p>That may not be as impressive as some tech companies ($601 billion by 2026 for Amazon), but it does mean that Baidu's war chest and financial flexibility to pivot towards AI, driverless cars, and streaming will grow significantly in future years.</p>\n<p>Baidu Medium-Term Growth Consensus</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>2020 Actual Growth</b></td>\n   <td><b>2021 consensus growth</b></td>\n   <td><b>2022 consensus growth</b></td>\n   <td><p><b>2023 consensus growth</b></p></td>\n  </tr>\n  <tr>\n   <td>EPS</td>\n   <td>31%</td>\n   <td>7%</td>\n   <td>18%</td>\n   <td>16%</td>\n  </tr>\n  <tr>\n   <td>Owner Earnings (Buffett smoothed out FCF)</td>\n   <td>124%</td>\n   <td>22%</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>Operating Cash Flow</td>\n   <td>-14%</td>\n   <td>59%</td>\n   <td>31%</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td>Free cash flow</td>\n   <td>96%</td>\n   <td>85%</td>\n   <td>22%</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>EBITDA</td>\n   <td>-18%</td>\n   <td>53%</td>\n   <td>27%</td>\n   <td>24%</td>\n  </tr>\n  <tr>\n   <td>EBIT (operating income)</td>\n   <td>130%</td>\n   <td>26%</td>\n   <td>26%</td>\n   <td>19%</td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: F.A.S.T. Graphs, FactSet Research)</i></p>\n<p>In the next few years, Baidu's growth efforts are expected to result in strong growth. But what's attracted me to the Google of China, is that this hyper-growth is expected to continue for many years to come.</p>\n<p><b>Reason 2: Long-Term Hyper-Growth Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bdfa536609dc32efe57d7af85154ddbf\" tg-width=\"640\" tg-height=\"412\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU's AI, streaming, and driverless car investments are showing up in \"other services\" and that revenue is expected to grow almost 50% in 3 years.</p>\n<p><img src=\"https://static.tigerbbs.com/d0a582df968d9cfaf4a09f2f2984f522\" tg-width=\"640\" tg-height=\"373\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72ab775d253a2fbce4a1a5001922e0b8\" tg-width=\"640\" tg-height=\"394\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<ul>\n <li>16.0% to 17.5% long-term growth consensus range</li>\n <li>6% to 28% growth consensus range adjusted for historical margin of error</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/6ae4ef54819e7f58c95b2f21ced20393\" tg-width=\"640\" tg-height=\"336\"><img src=\"https://static.tigerbbs.com/705d5218e7d882c4c52948d4f47fbb5e\" tg-width=\"640\" tg-height=\"341\"></p>\n<p>The margins of error on BIDU forecasts are very wide. 33% of the time it grows much faster than expected, 33% of the time much slower, and 33% of the about as fast as expected.</p>\n<ul>\n <li>margins of error over the last decade (excluding outliers) are 60% to the downside, 55% to the upside</li>\n <li>the long-term growth consensus range: 16% to 18% CAGR</li>\n <li>the margin of error adjusted long-term analyst growth consensus range: 6% to 28% CAGR</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/73c38a8847c12ffd67928559c978ff18\" tg-width=\"640\" tg-height=\"407\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>BIDU's historical growth is from -9% to 52%. So relatively high growth uncertainty, more so than most tech blue-chips.</p>\n<ul>\n <li>and thus the $650 investment vs $10K in GOOG, $89K in BABA, and $200K in Amazon</li>\n</ul>\n<p>However, analysts expect growth to be similar to the 20% growth of the last decade.</p>\n<p>And at today's high margin of safety, we're likely getting a good deal to compensate for BIDU's growth uncertainty and complex risk profile.</p>\n<p><b>Reason 3: Highly Attractive Valuation</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f3ad1e7e41458b1bdc4f379d7917692\" tg-width=\"640\" tg-height=\"414\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>BIDU growing at the rates analysts expect in the future has historically been valued at 23X to 26X earnings.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbd2ab20e70f34f53bc7768feb9b6a24\" tg-width=\"640\" tg-height=\"334\"><span>(Source: FactSet Research Terminal)</span></p>\n<p>BIDU is currently trading at 20.4X forward earnings and 13.6X EV/EBITDA.</p>\n<p>EV/EBITDA is market cap + net debt/EBITDA and is Joel Greenblatt's and private equity's favorite valuation metric.</p>\n<p>Baidu's 13-year median EV/EBITDA is 23.2, and its trading at 13.6, implying a potential 42% discount to fair value.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Metric</b></td>\n   <td><b>Historical Fair Value (12-years)</b></td>\n   <td><b>2020</b></td>\n   <td><b>2021</b></td>\n   <td><b>2022</b></td>\n   <td><b>2023</b></td>\n  </tr>\n  <tr>\n   <td>Earnings</td>\n   <td>25.0</td>\n   <td>$243.87</td>\n   <td>$261.27</td>\n   <td>$307.91</td>\n   <td>$357.77</td>\n  </tr>\n  <tr>\n   <td>Owner Earnings (Buffett smoothed out FCF) - 10 yr</td>\n   <td>23.5</td>\n   <td>$324.46</td>\n   <td>$394.46</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>Operating Cash Flow</td>\n   <td>19.9</td>\n   <td>$202.33</td>\n   <td>$321.22</td>\n   <td>$420.37</td>\n   <td>$448.64</td>\n  </tr>\n  <tr>\n   <td>Free Cash Flow (11-yr)</td>\n   <td>27.5</td>\n   <td>$220.77</td>\n   <td>$408.53</td>\n   <td>$497.28</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td>EBITDA</td>\n   <td>22.0</td>\n   <td>$190.60</td>\n   <td>$291.18</td>\n   <td>$370.80</td>\n   <td>$459.36</td>\n  </tr>\n  <tr>\n   <td>EBIT (operating income)</td>\n   <td>34.5</td>\n   <td>$207.78</td>\n   <td>$261.14</td>\n   <td>$328.78</td>\n   <td>$392.83</td>\n  </tr>\n  <tr>\n   <td><b>Average</b></td>\n   <td><b>$224.60</b></td>\n   <td><b>$312.71</b></td>\n   <td><b>$373.81</b></td>\n   <td><b>$410.40</b></td>\n  </tr>\n  <tr>\n   <td>Current Price</td>\n   <td>$215.83</td>\n  </tr>\n  <tr>\n   <td><p><b>Discount To Fair Value</b></p></td>\n   <td><b>3.91%</b></td>\n   <td><b>30.98%</b></td>\n   <td><b>42.26%</b></td>\n   <td><b>47.41%</b></td>\n  </tr>\n  <tr>\n   <td><i><b>Upside To Fair Value</b></i></td>\n   <td><i><b>4%</b></i></td>\n   <td><i><b>45%</b></i></td>\n   <td><i><b>73%</b></i></td>\n   <td><i><b>90%</b></i></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Source: F.A.S.T. Graphs, FactSet Research)</i></p>\n<p>BIDU is about 31% historically undervalued right now, meaning that if it grows as expected through 2023 and returns to fair value that's 90% upside potential.</p>\n<ul>\n <li>$350 is the median 12-month price target</li>\n <li>65% upside potential over the next 12 months according to analysts</li>\n</ul>\n<p>And that guestimate is 100% justified by fundamentals.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating</b></td>\n   <td><b>Margin Of Safety For Speculative 9/12 Blue-Chip Quality Companies</b></td>\n   <td><b>2020 Price</b></td>\n   <td><b>2021 Price</b></td>\n   <td><b>2022 Price</b></td>\n  </tr>\n  <tr>\n   <td>Potentially Reasonable Buy</td>\n   <td>0%</td>\n   <td>$224.60</td>\n   <td>$312.71</td>\n   <td>$373.81</td>\n  </tr>\n  <tr>\n   <td><b>Potentially Good Buy</b></td>\n   <td><b>25%</b></td>\n   <td><b>$168.45</b></td>\n   <td><b>$234.53</b></td>\n   <td><b>$280.35</b></td>\n  </tr>\n  <tr>\n   <td>Potentially Strong Buy</td>\n   <td>35%</td>\n   <td>$145.99</td>\n   <td>$203.26</td>\n   <td>$242.97</td>\n  </tr>\n  <tr>\n   <td>Potentially Very Strong Buy</td>\n   <td>45%</td>\n   <td>$123.53</td>\n   <td>$171.99</td>\n   <td>$205.59</td>\n  </tr>\n  <tr>\n   <td>Potentially Ultra-Value Buy</td>\n   <td>55%</td>\n   <td>$101.07</td>\n   <td>$140.72</td>\n   <td>$168.21</td>\n  </tr>\n  <tr>\n   <td><b>Currently</b></td>\n   <td><b>$213.41</b></td>\n   <td><b>5%</b></td>\n   <td><b>32%</b></td>\n   <td><b>43%</b></td>\n  </tr>\n  <tr>\n   <td><p>Upside To Fair Value (Not Including Dividends)</p></td>\n   <td>5%</td>\n   <td>47%</td>\n   <td>75%</td>\n  </tr>\n </tbody>\n</table>\n<p>At a 32% margin of safety, Baidu, despite all its risks, is a potentially good buy for more risk-tolerant investors.</p>\n<p>But the ability to potentially enjoy monster short-term gains is just the cherry on top with Baidu.</p>\n<p><b>Reason 4: Eye-Popping Long-Term Return Potential</b></p>\n<p>Here is a reasonable idea of what kind of returns you can expect buying BIDU today.</p>\n<p><b>Baidu 2023 Consensus Return Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15f5606b2eaa042608497f68998a69cc\" tg-width=\"640\" tg-height=\"385\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>If BAIDU grows as analysts expect through 2023, and returns to historical fair value, then analysts expect</p>\n<ul>\n <li>75% total returns</li>\n <li>23.3% CAGR returns</li>\n <li>vs -1.3% CAGR S&amp;P 500</li>\n</ul>\n<p>From its 31% discount, BIDU has the potential to outperform the 36% overvalued S&amp;P 500 by 78% over the next three years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7be8ed919f810734d99f50b4b14741dd\" tg-width=\"640\" tg-height=\"405\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>Corporate earnings growth estimates are rising by the day. Yet the market has already priced in three years of earnings growth totaling 62% or 17.4% CAGR.</p>\n<p>Over the long term, BIDU's return outlook is also very strong.</p>\n<p><b>Baidu 2026 Consensus Return Potential</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9aef71a5e564b122341a52dec05bb34\" tg-width=\"640\" tg-height=\"405\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>If BIDU grows as analysts expect through 2026 and returns to historical fair value you could expect</p>\n<ul>\n <li>179% total returns</li>\n <li>19.8% CAGR</li>\n <li>vs 4.5% CAGR S&amp;P 500</li>\n <li><i><b>4.4X better than the market's consensus return potential</b></i></li>\n</ul>\n<p>If BIDU delivers as analysts expect, then buying today could almost triple your money in the next five years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/935c135e000c240df768640b47826e5c\" tg-width=\"640\" tg-height=\"453\"><span>(Source: F.A.S.T. Graphs, FactSet Research)</span></p>\n<p>Over the long term, analysts expect</p>\n<ul>\n <li>0% yield + 17.5% growth = 17.5% CAGR very long-term total returns (after valuation changes cancel out)</li>\n <li>6% to 28% CAGR range</li>\n <li>vs 7.8% for the S&amp;P and 10.8% for the dividend aristocrats</li>\n</ul>\n<p><b>Baidu Total Returns Since 2006</b></p>\n<p><img src=\"https://static.tigerbbs.com/cfe7969e52431f689a9737c4c48401e1\" tg-width=\"640\" tg-height=\"124\"><img src=\"https://static.tigerbbs.com/08f72f9d45d8f32d950ea367c84cb531\" tg-width=\"640\" tg-height=\"297\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/40bd03cb49698c42f76664151bd05cf5\" tg-width=\"640\" tg-height=\"298\"><span>(Source: Portfolio Visualizer)</span></p>\n<p>In the last 15 years, BIDU has turned $1 into $26, adjusted for inflation, and crushed the market with 8X more wealth compounding.</p>\n<p>It's expected to grow slightly slower than in the past, but the ability to potentially enjoy 17.5% hyper-growth for many years is incredibly attractive.</p>\n<p><b>Baidu Vs S&amp;P 500 Vs Dividend Aristocrat Inflation-Adjusted Total Return Forecast: $650 Initial Investment</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Time Frame (Years)</b></td>\n   <td><b>5.8% LT Inflation-Adjusted Returns (S&amp;P Consensus)</b></td>\n   <td><b>8.8% Inflation-Adjusted Returns (aristocrat consensus)</b></td>\n   <td><b>15.5% Inflation-Adjusted Returns (BIDU consensus)</b></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>$1,325.65</td>\n   <td>$1,524.56</td>\n   <td>$1,336.05</td>\n  </tr>\n  <tr>\n   <td><b>10</b></td>\n   <td><b>$1,757.34</b></td>\n   <td><b>$2,324.28</b></td>\n   <td><b>$2,746.21</b></td>\n  </tr>\n  <tr>\n   <td>15</td>\n   <td>$2,329.62</td>\n   <td>$3,543.51</td>\n   <td>$5,644.73</td>\n  </tr>\n  <tr>\n   <td>20</td>\n   <td>$3,088.26</td>\n   <td>$5,402.29</td>\n   <td>$11,602.54</td>\n  </tr>\n  <tr>\n   <td>25</td>\n   <td>$4,093.94</td>\n   <td>$8,236.11</td>\n   <td>$23,848.60</td>\n  </tr>\n  <tr>\n   <td><b>30</b></td>\n   <td><b>$5,427.13</b></td>\n   <td><b>$12,556.45</b></td>\n   <td><b>$49,019.95</b></td>\n  </tr>\n  <tr>\n   <td>35</td>\n   <td>$7,194.46</td>\n   <td>$19,143.06</td>\n   <td>$100,758.76</td>\n  </tr>\n  <tr>\n   <td>40</td>\n   <td>$9,537.33</td>\n   <td>$29,184.74</td>\n   <td>$207,106.02</td>\n  </tr>\n  <tr>\n   <td>45</td>\n   <td>$12,643.14</td>\n   <td>$44,493.88</td>\n   <td>$425,699.02</td>\n  </tr>\n  <tr>\n   <td><b>50</b></td>\n   <td><b>$16,760.36</b></td>\n   <td><b>$67,833.58</b></td>\n   <td><b>$875,009.10</b></td>\n  </tr>\n </tbody>\n</table>\n<p>The ability to grow 2X to 3X as fast as the S&amp;P 500 or aristocrats creates the potential for wealth compounding on a massive scale. Look at how large my $650 initial BIDU investment can grow, assuming analysts are right and management delivers the expected growth over time.</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Time Frame (Years)</b></td>\n   <td><b>Ratio S&amp;P vs Aristocrat Consensus</b></td>\n   <td><b>Ratio S&amp;P vs BIDU consensus</b></td>\n  </tr>\n  <tr>\n   <td>5</td>\n   <td>1.15</td>\n   <td>1.01</td>\n  </tr>\n  <tr>\n   <td><b>10</b></td>\n   <td><b>1.32</b></td>\n   <td><b>1.56</b></td>\n  </tr>\n  <tr>\n   <td>15</td>\n   <td>1.52</td>\n   <td>2.42</td>\n  </tr>\n  <tr>\n   <td>20</td>\n   <td>1.75</td>\n   <td>3.76</td>\n  </tr>\n  <tr>\n   <td>25</td>\n   <td>2.01</td>\n   <td>5.83</td>\n  </tr>\n  <tr>\n   <td><b>30</b></td>\n   <td><b>2.31</b></td>\n   <td><b>9.03</b></td>\n  </tr>\n  <tr>\n   <td>35</td>\n   <td>2.66</td>\n   <td>14.01</td>\n  </tr>\n  <tr>\n   <td>40</td>\n   <td>3.06</td>\n   <td>21.72</td>\n  </tr>\n  <tr>\n   <td>45</td>\n   <td>3.52</td>\n   <td>33.67</td>\n  </tr>\n  <tr>\n   <td><b>50</b></td>\n   <td><b>4.05</b></td>\n   <td><b>52.21</b></td>\n  </tr>\n </tbody>\n</table>\n<p>Over the long term, the aristocrats are expected to quadruple the S&amp;P 500's wealth compounding. Baidu could potentially deliver 52X as much wealth as the S&amp;P 500.</p>\n<p>Is Baidu likely to grow 17.5% for 50 years? Probably not. But even if it can deliver just 10 to 20 years of hyper-growth, when combined with its attractive current valuation, that's worthy of a small initial investment in my book.</p>\n<p><b>Risk Profile: Why Baidu Isn't Right For Everyone</b></p>\n<p>There are no risk-free companies and no company is right for everyone. You have to be comfortable with the fundamental risk profile.</p>\n<p><b>Fundamental Risk Summary</b></p>\n<blockquote>\n We think Baidu faces high levels of risk, given intense competition along with questions as to whether its AI-related investment will generate satisfactory returns.\n</blockquote>\n<blockquote>\n Though Baidu is the largest search engine in China, it is competing with the other two Internet giants, Tencent and Alibaba, and Google’s potential return to the Chinese search market is also a threat.\n</blockquote>\n<blockquote>\n Regarding the search engine business, Tencent invested in Sogou, and Alibaba acquired UC Web, which owns a mobile search engine, Shenma. Competition has extended to each key area of mobile Internet usage, such as navigation, O2O services, online video services, and so on. Baidu’s margins have been significantly dragged down by aggressive spending in video content and O2O marketing but recovered to 18.5% in 2017 from 14.2% in 2016 as Baidu divested margin-dilutive businesses.\n</blockquote>\n<blockquote>\n The major Internet companies in China have been investing in AI-related business, such as cloud computing, voice and image recognition, and autonomously driven cars. At the current stage,\n <b>it is difficult to predict whether Baidu will be the final winner in AI and whether the returns will reward its investment.</b>\n</blockquote>\n<blockquote>\n In addition, regulatory risk is a concern. Following the Wei Zexi incident in early 2016, Chinese authorities launched new regulations for online search and advertising, which clearly defined paid search results as advertising. These regulations took effect on Sept. 1, 2016. Given stricter standards for online advertisers, Baidu’s online marketing services revenue growth declined to 1% in 2016. If the local authorities release more policies regarding Internet business, such as online advertising and online finance, Baidu’s revenue could be negatively affected.\n</blockquote>\n<blockquote>\n Since 2017, Baidu has discontinued the disclosure of MAUs for its mobile search and mobile maps, which is possibly due to weaker numbers.\" - Morningstar\n</blockquote>\n<p>BIDU's pivot into the technology of the future is potentially like Satya Nadella taking MSFT into the pure cloud-driven strategy.</p>\n<p>Or it could be like IBM's Watson-based flaying, major promise but poor execution over time.</p>\n<blockquote>\n Baidu has the urgency to strengthen its mobile business because it has not developed another industry-leading business other than its mobile search app for years.\n</blockquote>\n<blockquote>\n Baidu’s share of mobile time spend reduced to 6.9% in March 2019 from 7.3% year over year. Baidu positions its flagship Baidu app (173 million daily average users in March 2019) as a \"super\" app that can serve a wide range of users' needs, such as reading, watching videos, shopping, transportation tickets, food services, and so on, but we believe the app is less of a super app compared with Tencent’s Wechat (1.1 billion monthly average users).\n</blockquote>\n<blockquote>\n It has copied the strategies of its peers by launching a mini-program (181 million MAU in March 2019) and short video apps (sevenfold year over year increase to 98 million MAU in March 2019 as per Questmobile).\" - Morningstar\n</blockquote>\n<p>Baidu has struggled more than most Chinese tech giants to pivot and adapt to the disruption risk that is ever-present in this industry.</p>\n<blockquote>\n We have not factored in the meaningful commercialization of Baidu’s AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo and artificial intelligence cloud services.\n</blockquote>\n<blockquote>\n <b>Search is driven by an artificial intelligence-powered algorithm, giving Baidu a good foundation in this segment.</b>Baidu is also\n <b>one of the largest and earliest companies to start AI investments in China.</b>Currently, Baidu uses AI to recommend feeds to the app’s users to generate advertising revenue.\n</blockquote>\n<blockquote>\n IQiyi, Baidu’s online video platform, has been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on&nbsp;\n <b>iQiyi. It accounted for 29% of Baidu’s revenue in the first quarter of 2019.</b>\n</blockquote>\n<blockquote>\n In the near term, Baidu will invest heavily in its mobile business in terms of sales and marketing, and traffic acquisition. While meaningful monetization is uncertain, we expect Baidu to increase or maintain its research and development expenditure, which is at 17% of sales in the first quarter of 2019. To fend off major competitor Tencent Video, iQiyi needs to continue to invest in premium content. Therefore, we expect Baidu’s margins to be under pressure in the near term.\" - Morningstar\n</blockquote>\n<p>But while Baidu has made some questionable investments over the years, its current focus on AI is a logical and prudent one.</p>\n<p>Baidu's competitive advantage in AI stems from being the first mover in Chinese search. It has the most data to feed into its machine learning algorithms, though rivals like Alibaba (BABA) and Tencent (OTCPK:TCEHY) are working hard to eat its lunch.</p>\n<blockquote>\n Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for&nbsp;seven straight quarters.\n</blockquote>\n<blockquote>\n That ongoing slowdown is troubling since Baidu's advertising rivals -- like&nbsp;\n <b>Tencent</b>&nbsp;and&nbsp;\n <b>Bilibili --</b>both expanded&nbsp;their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\" - Leo Sun,Motley Fool\n</blockquote>\n<p>In recent years, BIDU's market share in digital ads has been declining, which means unlike companies like JD, BABA, and TCEHY, it's attempting to pivot from a position of weakness, not strength.</p>\n<p>It has the resources to invest heavily and hopefully achieve the kinds of impressive growth rates analysts expect. But success is far from guaranteed.</p>\n<p>This is why I've bought a starter 3 share tracking position in Baidu.</p>\n<ul>\n <li>compared to a $10,000 position in Alphabet (GOOG)</li>\n <li>and an&nbsp;$89,000 investment into Alibaba</li>\n <li>and a&nbsp;$200,000 investment into Amazon(AMZN)</li>\n</ul>\n<p>And of course, we can't forget about the risks surrounding management and governance.</p>\n<blockquote>\n Robin Yanhong Li, the founder of Baidu, has been the chairman of the board since its inception and has served as the CEO since 2004. Before that, Li worked at IDD Information Services and Infoseek in Silicon Valley, with a special focus on product development in Internet search engines. Li owned 16.4% of the company as of January 2020, and all directors and management together owned 16.5%. Jennifer Xinzhe Li stepped down as CFO in 2017 and was replaced by Herman Yu, formerly of Weibo...\n</blockquote>\n<blockquote>\n Baidu had reputational issues, with the Wei Zexi medical incident being the largest scandal, which led to a management restructuring in 2016. Three vice presidents were dismissed. Qi Lu joined Baidu in January 2017 as group president and COO but resigned in June 2018. Lu has a solid record in the U.S. technology industry, and Baidu’s financial performance substantially improved during his appointment.\n</blockquote>\n<blockquote>\n This incident once again raised the market’s concern about Baidu’s turnover of key executives, including ex-chief scientist Andrew Ng and ex-senior vice president Jin Wang. In May 2019, Baidu announced the departure of senior vice president Hailong Xiang, who had been with Baidu since 2005. His departure is believed to be a result of Baidu’s inability to develop another successful and profitable business outside of search.\n</blockquote>\n<blockquote>\n The introduction of a senior management retirement plan and a young leadership development program signifies Baidu’s determination to revamp its management and reinvigorate its businesses in the new Internet era. Shen Dou leads the mobile ecosystem group now. He has a technical background and puts more focus on more user experience versus maximizing sales. There are now more interactions between the sales, commercial product team, and the user experience team, which we think is better for Baidu’s sustainability.\" - Morningstar\n</blockquote>\n<p>Unlike the management at Tencent, which Morningstar considers \"exemplary\" or the \"deep bench\" at Alibaba, BIDU has struggled with management in recent years.</p>\n<blockquote>\n B shares, which are owned by the CEO and his affiliates, have 10 times the voting rights of Class A shares. Therefore,\n <b>Li controls 55.4% of the equity voting rights</b>&nbsp;as of January 2020.As a result, these Class B shareholders have a disproportionately large influence over key matters such as the election of directors and significant corporate transactions, including mergers and the sale of the company or assets.\" - Morningstar\n</blockquote>\n<p>BIDU's founder and CEO controls 55% of the vote and thus is effectively king of Baidu. If shareholders don't like what management does, they have no recourse other than selling.</p>\n<p>Management isn't a poor capital allocator, but in recent years it hasn't been firing on all cylinders when it comes to pivoting to growth catalysts as easily as JD, BABA, and TCEHY have.</p>\n<blockquote>\n Some of Baidu’s acquisitions and new business developments have proved unsuccessful.\n</blockquote>\n<blockquote>\n These include the acquisition of 59% of Nuomi, a group-buying service provider, for $160 million in 2013 and the remaining stake in 2014 for an undisclosed sum, and Raven Tech for $90 million in 2017...\n</blockquote>\n<blockquote>\n Baidu’s investments in online-to-offline businesses such as deliveries and Nuomi led to its&nbsp;\n <b>operating margin declining from 26.1% in 2014 to 14.2% in 2016</b>&nbsp;but they did not gain as much scale as Meituan.\n</blockquote>\n<blockquote>\n However, we refrain from giving a Poor stewardship rating to Baidu for several reasons.\n</blockquote>\n<blockquote>\n <b>Baidu made the right decision in moving away from the O2O businesses, which led to margin improvement to 18.5% in 2017</b>and investing in mobile and AI, which we believe is sensible given that they complement its strong core search business.\n</blockquote>\n<blockquote>\n Also, Baidu’s return on invested capital has been way higher than its weighted average cost of capital of 9.8% over the past 10 years.\" - Morningstar\n</blockquote>\n<p>And of course, every investor in Chinese tech has to understand VIE regulatory risk.</p>\n<blockquote>\n Like many other Chinese Internet companies listed in overseas markets, Baidu operates under a&nbsp;\n <b>variable interest entity structure</b>&nbsp;designed to let companies bypass Chinese legal restrictions on foreign ownership in certain sectors.\n</blockquote>\n<blockquote>\n Baidu's foreign investors essentially hold shares of Baidu's VIE domiciled in the Cayman Islands.\n <b>We don't expect any legal challenges to VIE structures by the Chinese government</b>&nbsp;and believe that Baidu will consider a China depositary receipt listing in the future.\n</blockquote>\n<blockquote>\n However, if the legitimacy of Baidu's related VIE is found to violate applicable law or regulation, Chinese regulatory authorities might take action, including revoking the business and operating licenses of Baidu's subsidiaries or the VIE, or discontinuing, restricting, or restructuring Baidu's operations.\n</blockquote>\n<blockquote>\n Since the Chinese Ministry of Commerce has the jurisdiction to regulate VIEs,\n <b>we believe overseas investors would have limited legal rights</b>.\" - Morningstar\n</blockquote>\n<p>VIE regulatory risk is the reason that all Chinese tech stocks are speculative, and always will be, regardless of quality (Tencent is a 12/12 speculative Ultra SWAN for this reason).</p>\n<p>How do you measure and factor in such a complex risk profile?</p>\n<p>By turning to the expert consensus.</p>\n<ul>\n <li>39 analysts that cover BIDU and collectively know it better than anyone other than management</li>\n <li>and whether or not scary headlines meaningfully alter the investment thesis</li>\n <li>2 credit rating agencies</li>\n <li>3 ESG risk rating agencies</li>\n <li>44 total experts that monitor BIDU's risk profile for DK and will let us know if the thesis is weakening, strengthening or breaks</li>\n</ul>\n<p><b>ESG Material Financial Risk Analysis</b></p>\n<p><b>Essential To Fully Understanding A Company's Overall Risk Profile Especially Chinese Tech Companies</b></p>\n<p>According to the world's best risk assessors, ESG metrics are a critical component of a company's overall risk profile. Here's who considers ESG important and builds it into their safety models and ratings.</p>\n<ul>\n <li><p>BlackRock - #1 asset manager in the world</p></li>\n <li><p>MSCI - #1 indexing giant</p></li>\n <li><p>Morningstar</p></li>\n <li><p>Reuters'/Refinitiv</p></li>\n <li><p>ISS (Institutional Shareholder Services) - #1 corporate proxy firm on earth</p></li>\n <li><p>S&amp;P</p></li>\n <li><p>Fitch</p></li>\n <li><p>Moody's</p></li>\n <li><p>DBRS (Canadian credit rating agency)</p></li>\n <li><p>AM Best (insurance industry rating agency)</p></li>\n <li><p>Bank of America - one of the 16 most accurate economic/analyst teams in the world according to Market Watch</p></li>\n <li><p>Bloomberg</p></li>\n <li><p>FactSet Research</p></li>\n <li>State Street - one of the largest custodial banks on earth</li>\n <li>Wells Fargo - one of the 16 most accurate economic/analyst teams in the world according to Market Watch</li>\n <li>NAREIT</li>\n</ul>\n<blockquote>\n Companies with strong ESG profiles may be better positioned for future challenges and experience\n <b>fewer instances of bribery, corruption, and fraud.</b>\" - MSCI (Emphasis added)\n</blockquote>\n<p>Bank of America's research finds that ESG metrics also help improve the long-term profitability and outcomes at companies.</p>\n<blockquote>\n <b>Punchline: higher ROE, lower risk &amp; lower cost of capital</b>\n</blockquote>\n<blockquote>\n We find that companies with greater gender diversity at the board/management level typically see&nbsp;\n <b>higher ROE and lower earnings risk than peers.</b>\n</blockquote>\n<blockquote>\n Moreover, based on disclosure data from ICE, we find gender diversity in management is associated with a&nbsp;\n <b>~20% premium on P/E</b>&nbsp;on an overall and sector-neutral basis.\n</blockquote>\n<blockquote>\n Ethnic and racial workforce diversity shows similarly strong results:\n <b>higher ROE, lower risk, and significant premia on P/E and P/BV.</b>\" - Bank of America (emphasis original)\n</blockquote>\n<p>ESG isn't about political correctness, it's about sound business practices and maximizing long-term profits by avoiding blowing up companies in the short to medium-term.</p>\n<p><b>Baidu Consensus ESG Risk Rating</b></p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><b>Rating Agency</b></td>\n   <td><b>Industry Percentile</b></td>\n   <td><p><b>Rating Agency Classification</b></p></td>\n  </tr>\n  <tr>\n   <td>MSCI</td>\n   <td>54.0%</td>\n   <td><p>BB Below-Average</p></td>\n  </tr>\n  <tr>\n   <td>Morningstar/Sustainalytics</td>\n   <td>40.2%</td>\n   <td><p>24.4/100 Medium Risk</p></td>\n  </tr>\n  <tr>\n   <td>Reuters'/Refinitiv (Combined ESG Rating)</td>\n   <td>52.6%</td>\n   <td>Satisfactory</td>\n  </tr>\n  <tr>\n   <td>S&amp;P</td>\n   <td>NA</td>\n   <td>NA</td>\n  </tr>\n  <tr>\n   <td><b>Consensus</b></td>\n   <td><b>48.9%</b></td>\n   <td><b>Average</b></td>\n  </tr>\n </tbody>\n</table>\n<p><i>(Sources: MSCI, Morningstar, Reuters'/Refinitiv)</i></p>\n<p>According to Morningstar, MSCI, and Reuter's BIDU's overall handling of its long-term financial ESG risk is average, in the 49th percentile.</p>\n<ul>\n <li>which is actually the highest ESG score of any of the big China tech stocks</li>\n <li>ESG investors probably want to avoid Chinese companies</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/afa54b995a935d581ed79c58fb5d4920\" tg-width=\"640\" tg-height=\"491\"><img src=\"https://static.tigerbbs.com/464e286a82c2e31d4b5bc2a67525beb8\" tg-width=\"640\" tg-height=\"229\"></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b0b24c0262471afee43fa88dfe8da44\" tg-width=\"640\" tg-height=\"319\"><span>(Source: MSCI)</span></p>\n<p>Chinese companies tend to score poorly on ESG due to governance issues.</p>\n<p>But note that BIDU used to be rated CCC very poor and has seen two rating upgrades in two years.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81242ba4340325a61c591a15f1e0aed7\" tg-width=\"640\" tg-height=\"453\"><span>(Source: BIDU IR)</span></p>\n<p>In recent years BIDU did establish an ESG committee that may explain the improvement in ESG risk scores.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01d6eec0412fa9351dcb8716bbbbc1a4\" tg-width=\"640\" tg-height=\"540\"><span>(Source: BIDU IR)</span></p>\n<blockquote>\n To enhance the integrity of mobile information and continue to be a leader in AI, we devote time and attention to the needs and demands of stakeholders, including suppliers, partners, governments, social institutions, users, employees, communities, and the environment itself.\n</blockquote>\n<blockquote>\n We actively explore low carbon operations, sustainable economic indicators, supply chain management, intellectual property, technological innovation, compliance, data privacy, information security, user experience, personnel training, employee rights, and community engagement.\n</blockquote>\n<blockquote>\n We aim to fully integrate an ESG philosophy and standards into our management, solve social problems with technology, leverage our corporate strength and innovation capability, and contribute long-term, sustainable value to stakeholders and the human community at large.\" - BIDU ESG mission statement\n</blockquote>\n<p>BIDU is talking the talk, and apparently beginning to walk the walk as well when it comes to managing long-term risk.</p>\n<p><img src=\"https://static.tigerbbs.com/5588fc730d2ccc5631369a46ea7bdd1b\" tg-width=\"640\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/2b3f779db4dbecb7bcc0e0880b6f4ae3\" tg-width=\"640\" tg-height=\"293\"></p>\n<p>Morningstar rates BIDU below average compared to its peers, but on par with the likes of Spotify, Snap, and MercadoLibre. In fact, Morningstar considers BIDU's ESG risk to be in the top 36% of all companies it rates.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea303ae18b648b1beee3ba4bb69b599c\" tg-width=\"640\" tg-height=\"308\"><span>(Source: Reuters'/Refinitiv)</span></p>\n<p>Reuters/Refinitv is the most robust ESG model we have access to. Over 450 metrics in total make up that score.</p>\n<ul>\n <li>BIDU scores rather poorly on governance and environmental issues</li>\n</ul>\n<p>The bottom line is that all companies have complex risk profiles that need to be considered before investing.</p>\n<p>The DK Safety and quality model don't ignore any risk, and BIDU's risks are firmly baked into its speculative blue-chip rating.</p>\n<p>A 32% margin of safety compensates us appropriately for all of the company's risks, and what could go wrong in the future.</p>\n<p>However, more risk-intolerant investors will want to avoid BIDU and Chinese companies in general.</p>\n<p><b>Bottom Line: It's Time To Be Greedy When Others Are Fearful About Baidu</b></p>\n<p>In this highly overvalued market, it's easy to throw up your hands and shout \"everything is expensive and it's dangerous to buy any stock.\"</p>\n<p>While there are many speculative bubbles that could destroy your retirement dreams, there are ALWAYS great blue-chip bargains available.</p>\n<p>Baidu is one of those potentially exceptional long-term opportunities right now. Its 40% bear market, partially created by forced institutional margin call selling, allows anyone comfortable with its risk profile to buy the Google of China at a 32% margin of safety.</p>\n<p>Is Baidu speculative? Sure, all Chinese tech stocks are. Is it worth risking a small amount of discretionary savings to see whether Baidu can deliver on its AI/Driverless car/Streaming plans?</p>\n<p>I think so. If Baidu lives up to expectations, then it could potentially double within three years and almost triple within five.</p>\n<p>Barring the most extreme stock market bubble in history, one that surpasses the tech mania of the late '90s, there is no chance the S&amp;P 500 and Nasdaq will even come close.</p>\n<p>And to achieve such returns Baidu doesn't have to fly off into a speculative bubble. It merely has to return to fair value and grow at the impressive rates analysts expect and it has delivered in the past.</p>\n<p>I can't tell you what Baidu's price will do over the next year. I can tell you that the 65% upside analysts expect over the next 12 months is 100% fundamentally justified.</p>\n<p>For those comfortable with the complex risk profile inherent to Chinese tech stocks, a small position in Baidu at some of the best valuations in years is a reasonable and prudent decision.</p>\n<p>Basically, it's time to be greedy when others are fearful about the Google of China.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Reasons Baidu Could Make You Rich</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Reasons Baidu Could Make You Rich\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-03 12:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BIDU":"百度","09888":"百度集团-SW"},"source_url":"https://seekingalpha.com/article/4423641-4-reasons-baidu-make-you-rich","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121605010","content_text":"Summary\n\nStrong corporate earnings and great economic data keeps the market grinding higher. The S&P 500 is 36% historically overvalued and has just 28% upside potential over the next five years.\nFortunately, whatever your goals, yield, value, growth, or total returns, something great is always on sale if you know where to look.\nBaidu is the Google of China, and planning on increasing spending by 30% annually over the coming years, focusing on AI, driverless cars, and streaming.\nIn recent weeks it plunged 40%, partially due to forced hedge fund margin call selling. This creates a potentially exceptional opportunity to be \"greedy when others are fearful\" about this speculative hyper-growth blue-chip.\nI recently bought a starter position in Baidu, because it's 31% undervalued and analysts think it could double in the next three years, and almost triple over the next five. For anyone comfortable with the complex risk profile of Chinese tech giants, Baidu is one of the most reasonable and prudent hyper-growth blue-chips you can buy today.\n\nPhoto by DNY59/iStock via Getty Images\nOver seven years as an analyst I've studied the greatest investors in history, to see what strategies made them legends.\nGreatest Investors In History: Masters Of Financial Science\n\n\n\n\nName\nReturns\nTime Horizon\nMost Famous For\n\n\nJim Simmons (Co-Founder Renaissance Technologies)\n71.8% CAGR\n1994 to 2014 (best investing record ever recorded)\nPure Quant Based Investing\n\n\nJoel Greenblatt\n40% CAGR\n21 years at Gotham Capital\n\"Above-Average Quality Companies At Below-Average Prices\"\n\n\nPeter Lynch\n29.2% CAGR at Fidelity's Magellan Fund\n1977 to 1990 (13 years)\n\"Growth At A Reasonable Price\"\n\n\nBill Miller (Legg Mason Value Trust 1990 to 2006)\n22.8% CAGR and beat the S&P 500 for 15 consecutive years\n16 years\n\n\nWarren Buffett\n20.8% CAGR at Berkshire\n55 Years\nGreedy when others are fearful\n\n\nBenjamin Graham\n20% CAGR vs 12% S&P 500\n1934 to 1956 (22 years)\nMargin of Safety\n\n\nEdward Thorp\n20+% CAGR\nover 30 years\ninvented card counting,pure statistically-based investing\n\n\nCharlie Munger\n19.80%\n1962 to 1975\nWonderful companies at fair prices\n\n\nHoward Marks\n19% CAGR\nSince 1995\nValuation Mean Reversion\n\n\nAnne Scheiber\n18.3% CAGR\n50 years\nTurned $5K into $22 million with no formal training, purely withtax-efficient buy and hold blue-chip investing.\n\n\nJohn Templeton\n300% from 1939 to 1943, 15.8% CAGR from 1954 to 1992\n38 years\nMarket Cycles\n\n\nCarl Icahn\n14.6% CAGR vs 5.6% S&P 500\n2001 to 2016 (15 Years)\n\n\nDavid Swenson\n13.9% CAGR at Yale's Endowment (includes bonds and alternative assets) vs 10.7% S&P 500\n30 years\nAlternative Asset Allocation\n\n\nGeraldine Weiss\n11.2% vs 9.8% S&P 500\n37 years\nBest risk-adjusted track recordof any newsletter over 30 years according to Hubbert Financial Digest, popularizeddividend yield theory(the only strategy she employed)\n\n\n\nCombining these lessons, along with decades of market studies from leading research institutions and blue-chip analyst firms, I've determined that there are six fundamentals that over the long term will make you rich (assuming you have discretionary savings to invest of course).\n\nPortfolio risk-management\nsafety\nquality\nyield\ngrowth\nand value\n\nWhen combined with patience, time, and discipline, these are what made the greatest investors in history the legends they are today.\nYou and I may never match the returns of the legends, but if we practice disciplined financial science we can avoid costly mistakes, and focus on the highest probability/low-risk blue-chips.\n\n It's remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.\" - Charlie Munger\n\nThese are the \"consistently not stupid\" decisions that made Charlie Munger and Warren Buffett so successful.\nToday I want to explain why I've recently opened a starter tracking position in speculative hyper-growth blue-chip Baidu (BIDU).\n\nAll Chinese tech giants are suffering a bear market right now. But notice how Baidu recently fell 40% in a matter of weeks.\n\n Baidu was also held by now-infamous hedge fund Archegos Capital Management at that time, which blew up during the same week. When the highly levered Archegos was unable to meet a margin call, banks seized Archegos' assets, including Baidu, and sold them off in massive blocks, accelerating Baidu's plunge.\" -Motley Fool\n\nInstitutional forced selling is one of the best opportunities for prudent long-term investors to buy the world's highest quality companies at mouth-watering prices.\n\nLowe's (LOW) and Realty Income (O) both plunged 25% on March 16th, due to institutional forced selling.\nIn other words, when hedge funds get margin calls, they become the ultimate dumb money. Taking the other side of those trades can be the way to earn Buffett-like returns, through buying and holding blue-chip investing.\nSo let me explain the four reasons why I consider it time to get greedy when others are fearful on Baidu.\n\n Today I buy what others won't, so tomorrow I earn returns others can't.\"\n\n\n  - Paraphrase of Jerry Rice\n\nReason 1: A Speculative Blue-Chip Quality Company\nAccording to the 2017 studyDo Stocks Outperform Treasury Bills?by Hendrik Bessembinder of Arizona State University's W.P. Carey School of Business 52% of all stocks, lose money over time.\nThis study looked at 26,000 companies from 1926 to 2016 and found that about 12% went to zero.\n\n(Source: Bessembinder et al)\nFrom 1926 to 2016 over 3,000 US companies listed on US exchanges went bankrupt. 1,100 or about 4%, delivered 100% of net positive returns. Just 48% of stocks delivered positive returns.\nIn other words, safety and quality are what can help you avoid the value traps that don't make any money or lose all of your savings.\nThe Dividend Kings quality scores factor in 143 fundamental metrics covering\n\ndividend safety\nbalance sheet strength\nshort and long-term bankruptcy risk\naccounting and corporate fraud risk\nprofitability and business model\ncost of capital\nlong-term sustainability (ESG scores and trends from MSCI, Morningstar, and Reuters'/Refinitiv)\nmanagement quality\ndividend friendly corporate culture/income dependability\nlong-term total returns (a Ben Graham sign of quality)\n\nOur model actually includes over 1,000 metrics if you count everything factored in by eight rating agencies we use to assess fundamental risk.\nEvery metric was selected based on\n\ndecades of empirical data\nthe experience of the greatest investors in history\neight rating agencies\nand what blue-chip economists and analyst firms consider most closely correlated to a company's long-term success.\n\nBaidu's quality is 9/12 speculative blue-chip, meaning I recommend a 2.5% max risk cap position sizing.\nDividend Kings Quality Rating System\n\n\n\n\nQuality Score\nMeaning\nMax Invested Capital Risk Recommendation\nMargin Of Safety Potentially Good Buy\nStrong Buy\nVery Strong Buy\nUltra-Value Buy\n\n\n3\nTerrible, Very High Long-Term Bankruptcy Risk\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n4\nVery Poor\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n5\nPoor\n0%\nNA (avoid)\nNA (avoid)\nNA (avoid)\nNA (avoid)\n\n\n6\nBelow-Average, Fallen Angels (very speculative)\n1%\n45%\n55%\n65%\n75%\n\n\n7\nAverage (Relative to S&P 500)\n2.5%\n35%\n45%\n55%\n65%\n\n\n8\nAbove-Average\n5% (unless speculative then 2.5%)\n25% to 30%\n35% to 40%\n45% to 50%\n55% to 60%\n\n\n9\nBlue-Chip\n7% (unlessspeculativethen2.5%)\n20% to25%\n30% to35%\n40% to45%\n50% to55%\n\n\n10\nSWAN (a higher caliber of Blue-Chip)\n7% (unless speculative then 2.5%)\n15% to 20%\n25% to 30%\n35% to 40%\n45% to 50%\n\n\n11\nSuper SWAN (exceptionally dependable blue-chips)\n7% (unless speculative then 2.5%)\n10% to 15%\n20% to 25%\n30% to 35%\n40% to 45%\n\n\n12\nUltra SWAN (as close to perfect companies as exist)\n7% (unless speculative then 2.5%)\n5% to 10%\n15% to 20%\n25% to 30%\n35% to 40%\n\n\n\nWhat exactly makes Baidu a speculative blue-chip?\nBalance Sheet Safety\n\n\n\n\nRating\nDividend Kings Safety Score (75 Safety Metric Model)\nApproximate Dividend Cut Risk (Average Recession)\nApproximate Dividend Cut Risk In Pandemic Level Recession\n\n\n1 (very unsafe)\n0% to 20%\nover 4%\n16+%\n\n\n2 (unsafe average)\n21% to 40%\nover 2%\n8% to 16%\n\n\n3 (average)\n41% to 60%\n2%\n4% to 8%\n\n\n4 (safe)\n61% to 80%\n1%\n2% to 4%\n\n\n5 (very safe)\n81% to 100%\n0.5%\n1% to 2%\n\n\nBIDU\n76%\nA stable rating from Fitch, A3 (A- equivalent) stable rating Moody's\n0.66% to 2.5% 30-year default/bankruptcy risk\n\n\n\nLong-Term Dependability\n\n\n\n\nCompany\nDK Long-Term Dependability Score\nInterpretation\nPoints\n\n\nS&P 500/Industry Average\n58%\nAverage Dependability\n2\n\n\nNon-Dependable Companies\n31% or below\nPoor Dependability\n1\n\n\nRelatively Dependable Companies\n32% to 70%\nBelow to Above-Average Dependability\n2\n\n\nVery Dependable Companies\n71% to 80%\nVery Dependable\n3\n\n\nExceptionally Dependable Companies\n81% or higher\nExceptional Dependability\n4\n\n\nBIDU\n67%\nAbove-Average Dependability\n2\n\n\n\nOverall Quality\n\n\n\n\nBIDU\nFinal Score\nRating\n\n\nSafety\n76%\n4/5\n\n\nBusiness Model\n80%\n3/3\n\n\nDependability\n67%\n2/4\n\n\nTotal\n73%\n9/12 Speculative Blue-Chip\n\n\n\nBaidu is the 245th Highest Quality Master List Company (Out of 495) = 49th Percentile\n(Source: DK Safety & Quality Tool) updated at the end of each day, sorted by overall quality score\n\ngreen = potentially good buy or better\nblue = potentially reasonable buy\nyellow = hold\nred = potential trim/sell\n\nBIDU's 73% quality score means it's the 245th highest quality company on the DK 500 Master List. This list includes the world's highest quality companies including\n\nall dividend champions\nall dividend aristocrats\nall dividend kings\nall 12/12 Ultra SWANs (as close to perfect quality as exists on Wall Street, think wide moat aristocrats)\nnumerous global aristocrats (such as BTI, ENB, and NVS)\n\nBIDU is about average quality compared to the world's elite companies and similar in quality to such 9/12 blue-chips and, 10/12 SWANs, as\n\nQualcomm (QCOM)\nBecton, Dickinson and Company (BDX) - dividend aristocrat\nW. P. Carey (WPC)\nSonoco Products (SON) - dividend champion\nH.B. Fuller (FUL) - dividend king\nMetLife (MET)\nDigital Realty Trust (DLR)\nLeggett & Platt (LEG) - dividend aristocrat\nV.F. Corp (VFC) - dividend aristocrat\nBank of New York Mellon (BK)\n\nBaidu has a strong cash-rich balance sheet, though it is taking on extra leverage in order to fund its ambitious growth efforts.\n(Source: Gurufocus Premium)\nIncluding leasing expenses, BIDU has 2X as much cash as debt.\nFitch and Moody's rate Baidu A stable and A3 (A- equivalent) stable outlooks, indicating 0.66% to 2.5% 30-year default/bankruptcy risk.\nAnalysts expect much higher spending in the short-term to cause leverage to increase, though rating agencies don't expect this to be permanent.\nThe key safety ratios with Baidu are the F, Z, and M scores, advanced accounting ratios created by leading research institutions that use asset ratios scanned from quarterly filings.\n\nF-score measures short-term bankruptcy risk\nZ-score measures 2-year bankruptcy risk (with 84% to 92% historical accuracy)\nM-score measures accounting fraud risk (with 76% historical accuracy)\n\n7/9 is very safe on the F-score = very low short-term bankruptcy risk.\n3.59 vs 3+ very safe and 9.51 historical, confirms the A-credit ratings and low long-term risk of losing all your money.\nAnd the M-score of -2.42 indicates a significantly less than 17.5% probability that Baidu is cooking its books.\n\n(Source: Gurufocus)\nBIDU's historically unsafe M-score has been improving and became safe at the end of 2014 and has remained so for the last seven years.\n\nits safety and quality score still get dinged though because we factor in every important metric so we don't miss any warning signs\n\nThe M-score is 76% historically accurate at catching accounting fraud and 82.5% accurate at finding companies with honest accounting.\nCombined with its credit ratings and risk ratings from 5 different rating agencies, plus its auditors, I can say with relatively high confidence that Baidu is not the next Luckin Coffee.\nQuality is a proven alpha factor, one of seven that beats the market over the long term.\n\nOn Wall Street, profitability over time is the most accurate proxy for quality.\n\ncredit ratings are one of the best qualitative quality proxies\n\n(Source: Gurufocus Premium)\nBaidu's profitability is historically in the top 20% of its peers, confirming a wide and stable moat.\n\n\n\n\nMetric\nIndustry Percentile\nMajor Interactive Media Companies More Profitable Than BIDU (Out of 543)\n\n\nOperating Margin\n67.35\n177\n\n\nNet Margin\n81.26\n102\n\n\nReturn On Equity\n67.86\n175\n\n\nReturn On Assets\n68.47\n171\n\n\nReturn On Capital\n69.61\n165\n\n\nAverage\n70.91\n158\n\n\n\n(Source: Gurufocus Premium)\nOver the last year, increased growth spending has reduced profitability to the top 29% of peers, though that's expected to recover in the future.\n\nfor example, returns on equity are expected to rise 10% by 2024\n\nJoel Greenblatt defined quality by return on capital, his gold standard proxy for quality and moatiness.\n\noperating income (EBIT)/operating capital (the money it takes to run the business for a year)\n\nGreenblatt's entire legendary track record, 40% annual returns for 21 years, was done by combining high ROC with low valuations.\n(Source: Gurufocus Premium)\nEven with heavy growth spending in recent years, Baidu's returns on capital are very impressive.\nThe average Master List company has 88% ROC.\nThe average aristocrat 83%.\nThe average Ultra SWAN 87%.\nOver the past year, BIDU's ROC has been 103% and in Q4 it was 95%.\nAnalysts expect that in the next few years, ROC will revert back to its historical 205%.\nA level of profitability that, according to Joel Greenblatt, would make BIDU one of the highest quality companies in the world.\nBaidu's future growth is expected to come from aggressive investments into driverless cars (long-term) and AI and streaming in the short and medium term.\nBaidu Growth Spending Consensus Forecast\n\n\n\n\nYear\nSG&A\nR&D\nCapex\nTotal Growth Spending\nSales\nGrowth Spending/Sales\n\n\n2020\n$2,792\n$3,016\n$993\n$4,009\n$16,548\n24.23%\n\n\n2021\n$3,574\n$3,554\n$1,893\n$5,447\n$19,517\n27.91%\n\n\n2022\n$3,974\n$4,062\n$2,220\n$6,282\n$22,235\n28.25%\n\n\n2023\n$5,049\n$5,858\n$2,719\n$8,577\n$25,258\n33.96%\n\n\n2024\nNA\nNA\n$1,504\nNA\n$30,071\nNA\n\n\n2025\nNA\nNA\nNA\nNA\nNA\nNA\n\n\n2026\nNA\nNA\nNA\nNA\nNA\nNA\n\n\nAnnualized Growth\n21.83%\n24.77%\n10.94%\n28.85%\n16.10%\nNA\n\n\n\n(Source: FactSet Research Terminal)\nHistorically Baidu spends about 17% of its revenue on growth. By 2023 that's expected to double.\nTotal growth spending is expected to grow at almost 30% annually for the next three years.\nBaidu Consensus Profit Forecast\n\n\n\n\nYear\nSales\nFCF\nEBITDA\nEBIT (Operating Income)\nNet Income\n\n\n2020\n$16,548\n$2,106\n$4,251\n$2,216\n$3,473\n\n\n2021\n$19,517\n$3,947\n$4,734\n$2,629\n$2,760\n\n\n2022\n$22,235\n$5,013\n$5,812\n$3,400\n$3,381\n\n\n2023\n$25,258\n$5,854\n$6,730\n$4,163\n$4,226\n\n\n2024\n$30,071\n$7,421\nNA\n$6,195\n$5,268\n\n\nAnnualized Growth\n16.10%\n37.01%\n16.55%\n29.31%\n10.98%\n\n\n\n(Source: FactSet Research Terminal)\nManagement's guidance, which is the basis for these consensus forecasts, is for strong revenue growth. Net margins are expected to compress but cash flows are expected to soar.\nFree cash flow, the ultimate source of all intrinsic value according to Ben Graham and Warren Buffett, is expected to more than triple by 2024.\nBaidu Consensus Margin Forecast\n\n\n\n\nYear\nFCF Margin\nEBITDA Margin\nEBIT (Operating) Margin\nNet Margin\n\n\n2020\n12.7%\n25.7%\n13.4%\n21.0%\n\n\n2021\n20.2%\n24.3%\n13.5%\n14.1%\n\n\n2022\n22.5%\n26.1%\n15.3%\n15.2%\n\n\n2023\n23.2%\n26.6%\n16.5%\n16.7%\n\n\n2024\n24.7%\nNA\n20.6%\n17.5%\n\n\nAnnualized Growth\n18.01%\n1.23%\n11.37%\n-4.42%\n\n\n\n(Source: FactSet Research Terminal)\nBaidu's profitability is ultimately expected to improve, though net margins won't until its major growth initiatives are over.\n(Source: FactSet Research Terminal)\nBIDU ended 2020 with $5.6 billion in cash, and that's expected to rise to $22 billion by 2023, and potentially nearly $60 billion by 2024.\nThat may not be as impressive as some tech companies ($601 billion by 2026 for Amazon), but it does mean that Baidu's war chest and financial flexibility to pivot towards AI, driverless cars, and streaming will grow significantly in future years.\nBaidu Medium-Term Growth Consensus\n\n\n\n\nMetric\n2020 Actual Growth\n2021 consensus growth\n2022 consensus growth\n2023 consensus growth\n\n\nEPS\n31%\n7%\n18%\n16%\n\n\nOwner Earnings (Buffett smoothed out FCF)\n124%\n22%\nNA\nNA\n\n\nOperating Cash Flow\n-14%\n59%\n31%\n7%\n\n\nFree cash flow\n96%\n85%\n22%\nNA\n\n\nEBITDA\n-18%\n53%\n27%\n24%\n\n\nEBIT (operating income)\n130%\n26%\n26%\n19%\n\n\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nIn the next few years, Baidu's growth efforts are expected to result in strong growth. But what's attracted me to the Google of China, is that this hyper-growth is expected to continue for many years to come.\nReason 2: Long-Term Hyper-Growth Potential\n(Source: FactSet Research Terminal)\nBIDU's AI, streaming, and driverless car investments are showing up in \"other services\" and that revenue is expected to grow almost 50% in 3 years.\n\n(Source: F.A.S.T. Graphs, FactSet Research)\n\n16.0% to 17.5% long-term growth consensus range\n6% to 28% growth consensus range adjusted for historical margin of error\n\n\nThe margins of error on BIDU forecasts are very wide. 33% of the time it grows much faster than expected, 33% of the time much slower, and 33% of the about as fast as expected.\n\nmargins of error over the last decade (excluding outliers) are 60% to the downside, 55% to the upside\nthe long-term growth consensus range: 16% to 18% CAGR\nthe margin of error adjusted long-term analyst growth consensus range: 6% to 28% CAGR\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU's historical growth is from -9% to 52%. So relatively high growth uncertainty, more so than most tech blue-chips.\n\nand thus the $650 investment vs $10K in GOOG, $89K in BABA, and $200K in Amazon\n\nHowever, analysts expect growth to be similar to the 20% growth of the last decade.\nAnd at today's high margin of safety, we're likely getting a good deal to compensate for BIDU's growth uncertainty and complex risk profile.\nReason 3: Highly Attractive Valuation\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU growing at the rates analysts expect in the future has historically been valued at 23X to 26X earnings.\n(Source: FactSet Research Terminal)\nBIDU is currently trading at 20.4X forward earnings and 13.6X EV/EBITDA.\nEV/EBITDA is market cap + net debt/EBITDA and is Joel Greenblatt's and private equity's favorite valuation metric.\nBaidu's 13-year median EV/EBITDA is 23.2, and its trading at 13.6, implying a potential 42% discount to fair value.\n\n\n\n\nMetric\nHistorical Fair Value (12-years)\n2020\n2021\n2022\n2023\n\n\nEarnings\n25.0\n$243.87\n$261.27\n$307.91\n$357.77\n\n\nOwner Earnings (Buffett smoothed out FCF) - 10 yr\n23.5\n$324.46\n$394.46\nNA\nNA\n\n\nOperating Cash Flow\n19.9\n$202.33\n$321.22\n$420.37\n$448.64\n\n\nFree Cash Flow (11-yr)\n27.5\n$220.77\n$408.53\n$497.28\nNA\n\n\nEBITDA\n22.0\n$190.60\n$291.18\n$370.80\n$459.36\n\n\nEBIT (operating income)\n34.5\n$207.78\n$261.14\n$328.78\n$392.83\n\n\nAverage\n$224.60\n$312.71\n$373.81\n$410.40\n\n\nCurrent Price\n$215.83\n\n\nDiscount To Fair Value\n3.91%\n30.98%\n42.26%\n47.41%\n\n\nUpside To Fair Value\n4%\n45%\n73%\n90%\n\n\n\n(Source: F.A.S.T. Graphs, FactSet Research)\nBIDU is about 31% historically undervalued right now, meaning that if it grows as expected through 2023 and returns to fair value that's 90% upside potential.\n\n$350 is the median 12-month price target\n65% upside potential over the next 12 months according to analysts\n\nAnd that guestimate is 100% justified by fundamentals.\n\n\n\n\nRating\nMargin Of Safety For Speculative 9/12 Blue-Chip Quality Companies\n2020 Price\n2021 Price\n2022 Price\n\n\nPotentially Reasonable Buy\n0%\n$224.60\n$312.71\n$373.81\n\n\nPotentially Good Buy\n25%\n$168.45\n$234.53\n$280.35\n\n\nPotentially Strong Buy\n35%\n$145.99\n$203.26\n$242.97\n\n\nPotentially Very Strong Buy\n45%\n$123.53\n$171.99\n$205.59\n\n\nPotentially Ultra-Value Buy\n55%\n$101.07\n$140.72\n$168.21\n\n\nCurrently\n$213.41\n5%\n32%\n43%\n\n\nUpside To Fair Value (Not Including Dividends)\n5%\n47%\n75%\n\n\n\nAt a 32% margin of safety, Baidu, despite all its risks, is a potentially good buy for more risk-tolerant investors.\nBut the ability to potentially enjoy monster short-term gains is just the cherry on top with Baidu.\nReason 4: Eye-Popping Long-Term Return Potential\nHere is a reasonable idea of what kind of returns you can expect buying BIDU today.\nBaidu 2023 Consensus Return Potential\n(Source: F.A.S.T. Graphs, FactSet Research)\nIf BAIDU grows as analysts expect through 2023, and returns to historical fair value, then analysts expect\n\n75% total returns\n23.3% CAGR returns\nvs -1.3% CAGR S&P 500\n\nFrom its 31% discount, BIDU has the potential to outperform the 36% overvalued S&P 500 by 78% over the next three years.\n(Source: F.A.S.T. Graphs, FactSet Research)\nCorporate earnings growth estimates are rising by the day. Yet the market has already priced in three years of earnings growth totaling 62% or 17.4% CAGR.\nOver the long term, BIDU's return outlook is also very strong.\nBaidu 2026 Consensus Return Potential\n(Source: F.A.S.T. Graphs, FactSet Research)\nIf BIDU grows as analysts expect through 2026 and returns to historical fair value you could expect\n\n179% total returns\n19.8% CAGR\nvs 4.5% CAGR S&P 500\n4.4X better than the market's consensus return potential\n\nIf BIDU delivers as analysts expect, then buying today could almost triple your money in the next five years.\n(Source: F.A.S.T. Graphs, FactSet Research)\nOver the long term, analysts expect\n\n0% yield + 17.5% growth = 17.5% CAGR very long-term total returns (after valuation changes cancel out)\n6% to 28% CAGR range\nvs 7.8% for the S&P and 10.8% for the dividend aristocrats\n\nBaidu Total Returns Since 2006\n\n(Source: Portfolio Visualizer)\nIn the last 15 years, BIDU has turned $1 into $26, adjusted for inflation, and crushed the market with 8X more wealth compounding.\nIt's expected to grow slightly slower than in the past, but the ability to potentially enjoy 17.5% hyper-growth for many years is incredibly attractive.\nBaidu Vs S&P 500 Vs Dividend Aristocrat Inflation-Adjusted Total Return Forecast: $650 Initial Investment\n\n\n\n\nTime Frame (Years)\n5.8% LT Inflation-Adjusted Returns (S&P Consensus)\n8.8% Inflation-Adjusted Returns (aristocrat consensus)\n15.5% Inflation-Adjusted Returns (BIDU consensus)\n\n\n5\n$1,325.65\n$1,524.56\n$1,336.05\n\n\n10\n$1,757.34\n$2,324.28\n$2,746.21\n\n\n15\n$2,329.62\n$3,543.51\n$5,644.73\n\n\n20\n$3,088.26\n$5,402.29\n$11,602.54\n\n\n25\n$4,093.94\n$8,236.11\n$23,848.60\n\n\n30\n$5,427.13\n$12,556.45\n$49,019.95\n\n\n35\n$7,194.46\n$19,143.06\n$100,758.76\n\n\n40\n$9,537.33\n$29,184.74\n$207,106.02\n\n\n45\n$12,643.14\n$44,493.88\n$425,699.02\n\n\n50\n$16,760.36\n$67,833.58\n$875,009.10\n\n\n\nThe ability to grow 2X to 3X as fast as the S&P 500 or aristocrats creates the potential for wealth compounding on a massive scale. Look at how large my $650 initial BIDU investment can grow, assuming analysts are right and management delivers the expected growth over time.\n\n\n\n\nTime Frame (Years)\nRatio S&P vs Aristocrat Consensus\nRatio S&P vs BIDU consensus\n\n\n5\n1.15\n1.01\n\n\n10\n1.32\n1.56\n\n\n15\n1.52\n2.42\n\n\n20\n1.75\n3.76\n\n\n25\n2.01\n5.83\n\n\n30\n2.31\n9.03\n\n\n35\n2.66\n14.01\n\n\n40\n3.06\n21.72\n\n\n45\n3.52\n33.67\n\n\n50\n4.05\n52.21\n\n\n\nOver the long term, the aristocrats are expected to quadruple the S&P 500's wealth compounding. Baidu could potentially deliver 52X as much wealth as the S&P 500.\nIs Baidu likely to grow 17.5% for 50 years? Probably not. But even if it can deliver just 10 to 20 years of hyper-growth, when combined with its attractive current valuation, that's worthy of a small initial investment in my book.\nRisk Profile: Why Baidu Isn't Right For Everyone\nThere are no risk-free companies and no company is right for everyone. You have to be comfortable with the fundamental risk profile.\nFundamental Risk Summary\n\n We think Baidu faces high levels of risk, given intense competition along with questions as to whether its AI-related investment will generate satisfactory returns.\n\n\n Though Baidu is the largest search engine in China, it is competing with the other two Internet giants, Tencent and Alibaba, and Google’s potential return to the Chinese search market is also a threat.\n\n\n Regarding the search engine business, Tencent invested in Sogou, and Alibaba acquired UC Web, which owns a mobile search engine, Shenma. Competition has extended to each key area of mobile Internet usage, such as navigation, O2O services, online video services, and so on. Baidu’s margins have been significantly dragged down by aggressive spending in video content and O2O marketing but recovered to 18.5% in 2017 from 14.2% in 2016 as Baidu divested margin-dilutive businesses.\n\n\n The major Internet companies in China have been investing in AI-related business, such as cloud computing, voice and image recognition, and autonomously driven cars. At the current stage,\n it is difficult to predict whether Baidu will be the final winner in AI and whether the returns will reward its investment.\n\n\n In addition, regulatory risk is a concern. Following the Wei Zexi incident in early 2016, Chinese authorities launched new regulations for online search and advertising, which clearly defined paid search results as advertising. These regulations took effect on Sept. 1, 2016. Given stricter standards for online advertisers, Baidu’s online marketing services revenue growth declined to 1% in 2016. If the local authorities release more policies regarding Internet business, such as online advertising and online finance, Baidu’s revenue could be negatively affected.\n\n\n Since 2017, Baidu has discontinued the disclosure of MAUs for its mobile search and mobile maps, which is possibly due to weaker numbers.\" - Morningstar\n\nBIDU's pivot into the technology of the future is potentially like Satya Nadella taking MSFT into the pure cloud-driven strategy.\nOr it could be like IBM's Watson-based flaying, major promise but poor execution over time.\n\n Baidu has the urgency to strengthen its mobile business because it has not developed another industry-leading business other than its mobile search app for years.\n\n\n Baidu’s share of mobile time spend reduced to 6.9% in March 2019 from 7.3% year over year. Baidu positions its flagship Baidu app (173 million daily average users in March 2019) as a \"super\" app that can serve a wide range of users' needs, such as reading, watching videos, shopping, transportation tickets, food services, and so on, but we believe the app is less of a super app compared with Tencent’s Wechat (1.1 billion monthly average users).\n\n\n It has copied the strategies of its peers by launching a mini-program (181 million MAU in March 2019) and short video apps (sevenfold year over year increase to 98 million MAU in March 2019 as per Questmobile).\" - Morningstar\n\nBaidu has struggled more than most Chinese tech giants to pivot and adapt to the disruption risk that is ever-present in this industry.\n\n We have not factored in the meaningful commercialization of Baidu’s AI-based services, such as voice assistant platform DuerOS, autonomous driving platform Apollo and artificial intelligence cloud services.\n\n\nSearch is driven by an artificial intelligence-powered algorithm, giving Baidu a good foundation in this segment.Baidu is also\n one of the largest and earliest companies to start AI investments in China.Currently, Baidu uses AI to recommend feeds to the app’s users to generate advertising revenue.\n\n\n IQiyi, Baidu’s online video platform, has been a key growth driver stemming from increasing willingness to pay for premium content in China and continuous advertising demand on \n iQiyi. It accounted for 29% of Baidu’s revenue in the first quarter of 2019.\n\n\n In the near term, Baidu will invest heavily in its mobile business in terms of sales and marketing, and traffic acquisition. While meaningful monetization is uncertain, we expect Baidu to increase or maintain its research and development expenditure, which is at 17% of sales in the first quarter of 2019. To fend off major competitor Tencent Video, iQiyi needs to continue to invest in premium content. Therefore, we expect Baidu’s margins to be under pressure in the near term.\" - Morningstar\n\nBut while Baidu has made some questionable investments over the years, its current focus on AI is a logical and prudent one.\nBaidu's competitive advantage in AI stems from being the first mover in Chinese search. It has the most data to feed into its machine learning algorithms, though rivals like Alibaba (BABA) and Tencent (OTCPK:TCEHY) are working hard to eat its lunch.\n\n Baidu generated 68% of its revenue during the year from its online marketing services segment, which mainly sells ads. The segment's revenue has declined year over year for seven straight quarters.\n\n\n That ongoing slowdown is troubling since Baidu's advertising rivals -- like \n Tencent and \n Bilibili --both expanded their advertising businesses over the past year. It also indicates people are spending less time on traditional online searches and more time on other digital platforms.\" - Leo Sun,Motley Fool\n\nIn recent years, BIDU's market share in digital ads has been declining, which means unlike companies like JD, BABA, and TCEHY, it's attempting to pivot from a position of weakness, not strength.\nIt has the resources to invest heavily and hopefully achieve the kinds of impressive growth rates analysts expect. But success is far from guaranteed.\nThis is why I've bought a starter 3 share tracking position in Baidu.\n\ncompared to a $10,000 position in Alphabet (GOOG)\nand an $89,000 investment into Alibaba\nand a $200,000 investment into Amazon(AMZN)\n\nAnd of course, we can't forget about the risks surrounding management and governance.\n\n Robin Yanhong Li, the founder of Baidu, has been the chairman of the board since its inception and has served as the CEO since 2004. Before that, Li worked at IDD Information Services and Infoseek in Silicon Valley, with a special focus on product development in Internet search engines. Li owned 16.4% of the company as of January 2020, and all directors and management together owned 16.5%. Jennifer Xinzhe Li stepped down as CFO in 2017 and was replaced by Herman Yu, formerly of Weibo...\n\n\n Baidu had reputational issues, with the Wei Zexi medical incident being the largest scandal, which led to a management restructuring in 2016. Three vice presidents were dismissed. Qi Lu joined Baidu in January 2017 as group president and COO but resigned in June 2018. Lu has a solid record in the U.S. technology industry, and Baidu’s financial performance substantially improved during his appointment.\n\n\n This incident once again raised the market’s concern about Baidu’s turnover of key executives, including ex-chief scientist Andrew Ng and ex-senior vice president Jin Wang. In May 2019, Baidu announced the departure of senior vice president Hailong Xiang, who had been with Baidu since 2005. His departure is believed to be a result of Baidu’s inability to develop another successful and profitable business outside of search.\n\n\n The introduction of a senior management retirement plan and a young leadership development program signifies Baidu’s determination to revamp its management and reinvigorate its businesses in the new Internet era. Shen Dou leads the mobile ecosystem group now. He has a technical background and puts more focus on more user experience versus maximizing sales. There are now more interactions between the sales, commercial product team, and the user experience team, which we think is better for Baidu’s sustainability.\" - Morningstar\n\nUnlike the management at Tencent, which Morningstar considers \"exemplary\" or the \"deep bench\" at Alibaba, BIDU has struggled with management in recent years.\n\n B shares, which are owned by the CEO and his affiliates, have 10 times the voting rights of Class A shares. Therefore,\n Li controls 55.4% of the equity voting rights as of January 2020.As a result, these Class B shareholders have a disproportionately large influence over key matters such as the election of directors and significant corporate transactions, including mergers and the sale of the company or assets.\" - Morningstar\n\nBIDU's founder and CEO controls 55% of the vote and thus is effectively king of Baidu. If shareholders don't like what management does, they have no recourse other than selling.\nManagement isn't a poor capital allocator, but in recent years it hasn't been firing on all cylinders when it comes to pivoting to growth catalysts as easily as JD, BABA, and TCEHY have.\n\n Some of Baidu’s acquisitions and new business developments have proved unsuccessful.\n\n\n These include the acquisition of 59% of Nuomi, a group-buying service provider, for $160 million in 2013 and the remaining stake in 2014 for an undisclosed sum, and Raven Tech for $90 million in 2017...\n\n\n Baidu’s investments in online-to-offline businesses such as deliveries and Nuomi led to its \n operating margin declining from 26.1% in 2014 to 14.2% in 2016 but they did not gain as much scale as Meituan.\n\n\n However, we refrain from giving a Poor stewardship rating to Baidu for several reasons.\n\n\nBaidu made the right decision in moving away from the O2O businesses, which led to margin improvement to 18.5% in 2017and investing in mobile and AI, which we believe is sensible given that they complement its strong core search business.\n\n\n Also, Baidu’s return on invested capital has been way higher than its weighted average cost of capital of 9.8% over the past 10 years.\" - Morningstar\n\nAnd of course, every investor in Chinese tech has to understand VIE regulatory risk.\n\n Like many other Chinese Internet companies listed in overseas markets, Baidu operates under a \n variable interest entity structure designed to let companies bypass Chinese legal restrictions on foreign ownership in certain sectors.\n\n\n Baidu's foreign investors essentially hold shares of Baidu's VIE domiciled in the Cayman Islands.\n We don't expect any legal challenges to VIE structures by the Chinese government and believe that Baidu will consider a China depositary receipt listing in the future.\n\n\n However, if the legitimacy of Baidu's related VIE is found to violate applicable law or regulation, Chinese regulatory authorities might take action, including revoking the business and operating licenses of Baidu's subsidiaries or the VIE, or discontinuing, restricting, or restructuring Baidu's operations.\n\n\n Since the Chinese Ministry of Commerce has the jurisdiction to regulate VIEs,\n we believe overseas investors would have limited legal rights.\" - Morningstar\n\nVIE regulatory risk is the reason that all Chinese tech stocks are speculative, and always will be, regardless of quality (Tencent is a 12/12 speculative Ultra SWAN for this reason).\nHow do you measure and factor in such a complex risk profile?\nBy turning to the expert consensus.\n\n39 analysts that cover BIDU and collectively know it better than anyone other than management\nand whether or not scary headlines meaningfully alter the investment thesis\n2 credit rating agencies\n3 ESG risk rating agencies\n44 total experts that monitor BIDU's risk profile for DK and will let us know if the thesis is weakening, strengthening or breaks\n\nESG Material Financial Risk Analysis\nEssential To Fully Understanding A Company's Overall Risk Profile Especially Chinese Tech Companies\nAccording to the world's best risk assessors, ESG metrics are a critical component of a company's overall risk profile. Here's who considers ESG important and builds it into their safety models and ratings.\n\nBlackRock - #1 asset manager in the world\nMSCI - #1 indexing giant\nMorningstar\nReuters'/Refinitiv\nISS (Institutional Shareholder Services) - #1 corporate proxy firm on earth\nS&P\nFitch\nMoody's\nDBRS (Canadian credit rating agency)\nAM Best (insurance industry rating agency)\nBank of America - one of the 16 most accurate economic/analyst teams in the world according to Market Watch\nBloomberg\nFactSet Research\nState Street - one of the largest custodial banks on earth\nWells Fargo - one of the 16 most accurate economic/analyst teams in the world according to Market Watch\nNAREIT\n\n\n Companies with strong ESG profiles may be better positioned for future challenges and experience\n fewer instances of bribery, corruption, and fraud.\" - MSCI (Emphasis added)\n\nBank of America's research finds that ESG metrics also help improve the long-term profitability and outcomes at companies.\n\nPunchline: higher ROE, lower risk & lower cost of capital\n\n\n We find that companies with greater gender diversity at the board/management level typically see \n higher ROE and lower earnings risk than peers.\n\n\n Moreover, based on disclosure data from ICE, we find gender diversity in management is associated with a \n ~20% premium on P/E on an overall and sector-neutral basis.\n\n\n Ethnic and racial workforce diversity shows similarly strong results:\n higher ROE, lower risk, and significant premia on P/E and P/BV.\" - Bank of America (emphasis original)\n\nESG isn't about political correctness, it's about sound business practices and maximizing long-term profits by avoiding blowing up companies in the short to medium-term.\nBaidu Consensus ESG Risk Rating\n\n\n\n\nRating Agency\nIndustry Percentile\nRating Agency Classification\n\n\nMSCI\n54.0%\nBB Below-Average\n\n\nMorningstar/Sustainalytics\n40.2%\n24.4/100 Medium Risk\n\n\nReuters'/Refinitiv (Combined ESG Rating)\n52.6%\nSatisfactory\n\n\nS&P\nNA\nNA\n\n\nConsensus\n48.9%\nAverage\n\n\n\n(Sources: MSCI, Morningstar, Reuters'/Refinitiv)\nAccording to Morningstar, MSCI, and Reuter's BIDU's overall handling of its long-term financial ESG risk is average, in the 49th percentile.\n\nwhich is actually the highest ESG score of any of the big China tech stocks\nESG investors probably want to avoid Chinese companies\n\n\n(Source: MSCI)\nChinese companies tend to score poorly on ESG due to governance issues.\nBut note that BIDU used to be rated CCC very poor and has seen two rating upgrades in two years.\n(Source: BIDU IR)\nIn recent years BIDU did establish an ESG committee that may explain the improvement in ESG risk scores.\n(Source: BIDU IR)\n\n To enhance the integrity of mobile information and continue to be a leader in AI, we devote time and attention to the needs and demands of stakeholders, including suppliers, partners, governments, social institutions, users, employees, communities, and the environment itself.\n\n\n We actively explore low carbon operations, sustainable economic indicators, supply chain management, intellectual property, technological innovation, compliance, data privacy, information security, user experience, personnel training, employee rights, and community engagement.\n\n\n We aim to fully integrate an ESG philosophy and standards into our management, solve social problems with technology, leverage our corporate strength and innovation capability, and contribute long-term, sustainable value to stakeholders and the human community at large.\" - BIDU ESG mission statement\n\nBIDU is talking the talk, and apparently beginning to walk the walk as well when it comes to managing long-term risk.\n\nMorningstar rates BIDU below average compared to its peers, but on par with the likes of Spotify, Snap, and MercadoLibre. In fact, Morningstar considers BIDU's ESG risk to be in the top 36% of all companies it rates.\n(Source: Reuters'/Refinitiv)\nReuters/Refinitv is the most robust ESG model we have access to. Over 450 metrics in total make up that score.\n\nBIDU scores rather poorly on governance and environmental issues\n\nThe bottom line is that all companies have complex risk profiles that need to be considered before investing.\nThe DK Safety and quality model don't ignore any risk, and BIDU's risks are firmly baked into its speculative blue-chip rating.\nA 32% margin of safety compensates us appropriately for all of the company's risks, and what could go wrong in the future.\nHowever, more risk-intolerant investors will want to avoid BIDU and Chinese companies in general.\nBottom Line: It's Time To Be Greedy When Others Are Fearful About Baidu\nIn this highly overvalued market, it's easy to throw up your hands and shout \"everything is expensive and it's dangerous to buy any stock.\"\nWhile there are many speculative bubbles that could destroy your retirement dreams, there are ALWAYS great blue-chip bargains available.\nBaidu is one of those potentially exceptional long-term opportunities right now. Its 40% bear market, partially created by forced institutional margin call selling, allows anyone comfortable with its risk profile to buy the Google of China at a 32% margin of safety.\nIs Baidu speculative? Sure, all Chinese tech stocks are. Is it worth risking a small amount of discretionary savings to see whether Baidu can deliver on its AI/Driverless car/Streaming plans?\nI think so. If Baidu lives up to expectations, then it could potentially double within three years and almost triple within five.\nBarring the most extreme stock market bubble in history, one that surpasses the tech mania of the late '90s, there is no chance the S&P 500 and Nasdaq will even come close.\nAnd to achieve such returns Baidu doesn't have to fly off into a speculative bubble. It merely has to return to fair value and grow at the impressive rates analysts expect and it has delivered in the past.\nI can't tell you what Baidu's price will do over the next year. I can tell you that the 65% upside analysts expect over the next 12 months is 100% fundamentally justified.\nFor those comfortable with the complex risk profile inherent to Chinese tech stocks, a small position in Baidu at some of the best valuations in years is a reasonable and prudent decision.\nBasically, it's time to be greedy when others are fearful about the Google of China.","news_type":1},"isVote":1,"tweetType":1,"viewCount":590,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123024147,"gmtCreate":1624404361489,"gmtModify":1703835469665,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123024147","repostId":"1169498109","repostType":4,"repost":{"id":"1169498109","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":1624376440,"share":"https://ttm.financial/m/news/1169498109?lang=&edition=fundamental","pubTime":"2021-06-22 23:40","market":"us","language":"en","title":"Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1169498109","media":"Reuters","summary":"(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 millio","content":"<p>(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.</p>\n<p>Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.</p>\n<p>Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.</p>\n<p>The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.</p>\n<p>Earlier this month, Dingdong also filed to list in the United States.</p>\n<p>Missfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.</p>\n<p>J.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.</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>Tencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO</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\">\nTencent-backed Missfresh eyes $3.8 billion valuation in U.S. IPO\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\">2021-06-22 23:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.</p>\n<p>Missfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.</p>\n<p>Founded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.</p>\n<p>The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.</p>\n<p>Earlier this month, Dingdong also filed to list in the United States.</p>\n<p>Missfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.</p>\n<p>J.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MF":"每日优鲜"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169498109","content_text":"(Reuters) - Chinese online grocery startup Missfresh Ltd is planning to raise as much as $336 million from its U.S. initial public offering, which is expected to value the company at up to $3.8 billion at the top end of the range.\nMissfresh, which is backed by an affiliate of Chinese gaming and social media giant Tencent Holdings Ltd, is offering 21 million American Depositary Shares (ADSs) at a price range of between $13 and $16 each.\nFounded in 2014, Missfresh is a mobile e-commerce platform that offers delivery services of fresh produce, including fruits, vegetables, dairy products, meat, beverages and drinks, and other daily dining and living items.\nThe COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong Macai, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market.\nEarlier this month, Dingdong also filed to list in the United States.\nMissfresh also counts Abu Dhabi Capital Group and Tiger Global Management among its backers.\nJ.P. Morgan, Citigroup, CICC and China Renaissance are the lead underwriters for the offering.","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191120696,"gmtCreate":1620865144115,"gmtModify":1704349439560,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"That was unexpected&nbsp;","listText":"That was unexpected&nbsp;","text":"That was unexpected","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/191120696","repostId":"2135643454","repostType":4,"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139856228,"gmtCreate":1621608198864,"gmtModify":1704360525484,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139856228","repostId":"2137901923","repostType":4,"repost":{"id":"2137901923","kind":"highlight","pubTimestamp":1621606683,"share":"https://ttm.financial/m/news/2137901923?lang=&edition=fundamental","pubTime":"2021-05-21 22:18","market":"us","language":"en","title":"Elon Musk leaves Europeans guessing on location of future Tesla plant","url":"https://stock-news.laohu8.com/highlight/detail?id=2137901923","media":"Barrons","summary":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government i","content":"<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the&nbsp;Tesla&nbsp;founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.</p>\n<ul>\n <li>Musk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw&nbsp;British media speculate&nbsp;that he might change his mind.</li>\n <li>The U.K. government’s Office for Investment,&nbsp;created&nbsp;last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.</li>\n <li>Musk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars&nbsp;has been delayed&nbsp;from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.</li>\n <li>Tesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk&nbsp;said on Friday,&nbsp;while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.</li>\n</ul>\n<p><b>The outlook:</b>Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.</p>\n<p>If Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk leaves Europeans guessing on location of future Tesla plant</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\">\nElon Musk leaves Europeans guessing on location of future Tesla plant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. ...</p>\n\n<a href=\"https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137901923","content_text":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.\n\nMusk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw British media speculate that he might change his mind.\nThe U.K. government’s Office for Investment, created last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.\nMusk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars has been delayed from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.\nTesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk said on Friday, while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.\n\nThe outlook:Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.\nIf Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.","news_type":1},"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123026041,"gmtCreate":1624404258883,"gmtModify":1703835464469,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123026041","repostId":"2145052095","repostType":4,"repost":{"id":"2145052095","kind":"highlight","pubTimestamp":1624375500,"share":"https://ttm.financial/m/news/2145052095?lang=&edition=fundamental","pubTime":"2021-06-22 23:25","market":"us","language":"en","title":"Forget AMC: These 3 Meme Stocks Actually Have a Future","url":"https://stock-news.laohu8.com/highlight/detail?id=2145052095","media":"Motley Fool","summary":"Not all meme stocks are alike.","content":"<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the <b>S&amp;P 500</b> is around 10% annually.</p>\n<p>While traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.</p>\n<p>No stock represents that phenomenon better than <b>AMC Entertainment Holdings</b> (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/e52f3c866905316452fa461447bc7057\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Bringing down the curtain on AMC</h3>\n<p>Beyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.</p>\n<p>The problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.</p>\n<p>Theater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.</p>\n<p>Theaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.</p>\n<p>That may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.</p>\n<p>AMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.</p>\n<p>While it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.</p>\n<p>AMC Entertainment is not a place for long-term investors to park their money.</p>\n<h3>Forget AMC and consider these meme stocks instead</h3>\n<p>Movie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.</p>\n<p><img src=\"https://static.tigerbbs.com/a5c7d1564239ae8b7f0599f43d88f184\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>1. Bed Bath &amp; Beyond</h3>\n<p>I had pretty much written off home furnishings retailer <b>Bed Bath &amp; Beyond</b> (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.</p>\n<p>Yet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath &amp; Beyond had amassed.</p>\n<p>The pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath &amp; Beyond has the chance to shine.</p>\n<p>One of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath &amp; Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.</p>\n<p>It has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.</p>\n<p><img src=\"https://static.tigerbbs.com/2b9b0706e36e2038b277532e6820963d\" tg-width=\"700\" tg-height=\"482\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>2. Corsair Gaming</h3>\n<p><b>Corsair Gaming</b> (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.</p>\n<p>Unlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.</p>\n<p>The company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as <a href=\"https://laohu8.com/S/AONE\">one</a> to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.</p>\n<p>Corsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.</p>\n<p>The company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on <b>Alphabet</b>'s YouTube. There are also millions of active streamers across Twitch and <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> Gaming, as well as on platforms of Chinese gaming sites <b>Huya</b> and <b>DouYu</b>, to drive sales of gaming and content-creation gear.</p>\n<p>There's a substantial growth trajectory still ahead for Corsair Gaming, <a href=\"https://laohu8.com/S/AONE.U\">one</a> that shouldn't be obscured by having become a meme stock favorite.</p>\n<p><img src=\"https://static.tigerbbs.com/8c01389388c3306ea6e9b152ac7e7f05\" tg-width=\"700\" tg-height=\"465\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>3. GameStop</h3>\n<p>As the original meme stock investment, <b>GameStop</b> (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.</p>\n<p>If theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.</p>\n<p>Which is exactly why the new management team, almost wholly brought over from <b>Amazon</b> and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"</p>\n<p>It's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.</p>\n<p>Since gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.</p>\n<p>There's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.</p>\n<p>Instead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Forget AMC: These 3 Meme Stocks Actually Have a Future</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\">\nForget AMC: These 3 Meme Stocks Actually Have a Future\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 23:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站","BBBY":"3B家居","CRSR":"Corsair Gaming, Inc.","FUTR.UK":"FUTURE"},"source_url":"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145052095","content_text":"Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the S&P 500 is around 10% annually.\nWhile traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.\nNo stock represents that phenomenon better than AMC Entertainment Holdings (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.\n\nImage source: Getty Images.\nBringing down the curtain on AMC\nBeyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.\nThe problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.\nTheater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.\nTheaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.\nThat may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.\nAMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.\nWhile it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.\nAMC Entertainment is not a place for long-term investors to park their money.\nForget AMC and consider these meme stocks instead\nMovie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.\n\nImage source: Getty Images.\n1. Bed Bath & Beyond\nI had pretty much written off home furnishings retailer Bed Bath & Beyond (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.\nYet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath & Beyond had amassed.\nThe pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath & Beyond has the chance to shine.\nOne of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath & Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.\nIt has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.\n\nImage source: Getty Images.\n2. Corsair Gaming\nCorsair Gaming (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.\nUnlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.\nThe company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as one to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.\nCorsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.\nThe company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on Alphabet's YouTube. There are also millions of active streamers across Twitch and Facebook Gaming, as well as on platforms of Chinese gaming sites Huya and DouYu, to drive sales of gaming and content-creation gear.\nThere's a substantial growth trajectory still ahead for Corsair Gaming, one that shouldn't be obscured by having become a meme stock favorite.\n\nImage source: Getty Images.\n3. GameStop\nAs the original meme stock investment, GameStop (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.\nIf theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.\nWhich is exactly why the new management team, almost wholly brought over from Amazon and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"\nIt's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.\nSince gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.\nThere's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.\nInstead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":377,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193421838,"gmtCreate":1620811951924,"gmtModify":1704348763461,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Bullish on it!","listText":"Bullish on it!","text":"Bullish on it!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/193421838","repostId":"1104508784","repostType":4,"repost":{"id":"1104508784","kind":"news","pubTimestamp":1620809491,"share":"https://ttm.financial/m/news/1104508784?lang=&edition=fundamental","pubTime":"2021-05-12 16:51","market":"us","language":"en","title":"Coinbase Could Have a Facebook-Like Rebound, Bull Argues","url":"https://stock-news.laohu8.com/highlight/detail?id=1104508784","media":"Barron's","summary":"Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencie","content":"<p>Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencies. It signified that the industry had entered the mainstream and survived a review by the Securities and Exchange Commission.</p><p>But the weeks since have been rockier. Shares of Coinbase (ticker: COIN) peaked at $429 on their opening day but fell below $300 by the following week and closed on Tuesday at $303. The stock’s current price still represents a remarkably high valuation compared with most other stocks, including other fast-growing tech names.</p><p>But it’s not near the level that bulls projected, and some are now pushing back on the bearish case against Coinbase.</p><p>In recent notes, analysts argue that the bears are missing the company’s potential. The notes come ahead of Coinbase’s first-quarter earnings report on Thursday. Coinbase already previewed its results, but the company’s comments on the earnings call could move the stock.</p><p>The main bearish case against Coinbase is that the fees it relies on for more than 90% of its revenue will be whittled away in the years ahead by competitors. Coinbase charges a base fee of 4% to U.S. users that can be lower based on payment methods. Other brokers and exchanges offer cheaper crypto trading and may continue to cut rates. Bears like David Trainer at New Constructs research firm expects competition “should reduce the company’s market share and pricing power.”</p><p>Other analysts are now pushing back against that thesis. In a note initiating coverage of Coinbase with a Buy rating on Tuesday, Oppenheimer’s Owen Lau wrote that the “fee compression concern is overblown.” He thinks that Coinbase’s business model isn’t the same as a traditional exchange or broker, whose services are easier to duplicate.</p><p>Coinbase has more comprehensive services, from custody to exchange to brokerage, and its fees take this larger suite of services into account. Handling cryptocurrencies is much trickier than holding stocks, given that crypto has a history of being hacked or lost. The company is also building out a “suite of services” that have recurring revenue, including a program called “staking” that allows crypto holders to earn interest.</p><p>Lau values Coinbase at 16 times its 2022 revenue expectations, coming to a $434 price target. He has a rating of Outperform on the stock.</p><p>BTIG analyst Mark Palmer also wrote a bullish note on Coinbase, seeking to dispel the fee-compression argument. Palmer thinks the bears may currently be winning the argument about Coinbase because the company used a nontraditional path to sell its shares, listing them directly on the Nasdaq instead of working with a bank to market and sell them. He thinks the path of Coinbase’s stock may resemble that of Facebook ‘s. Facebook (FB) initially fell after its initial public offering, but recovered as investors grew more comfortable with its business model.</p><p>“Just as many investors initially struggled to understand Facebook and what it could become, we believe most investors who would consider buying COIN are still trying to gain a better understanding of its business, the environment in which it operates, and the crypto ecosystem in general,” Palmer wrote. “It is our view that the stock’s recent weakness reflects the impact of the company’s decision to pursue a direct listing rather than a traditional IPO with a full marketing roadshow, an approach that has given rise to an information vacuum eagerly filled by those pushing a bearish thesis based almost entirely on the potential for retail take-rate compression.”</p><p>Palmer’s price target is $500, based on a multiple of 16 times the company’s projected 2024 sales.</p><p>Coinbase rose 0.84% in premarket trading Wednesday for now.</p><p><img src=\"https://static.tigerbbs.com/9a96f74c36fa6fcbc92186c8bc18ca1f\" tg-width=\"766\" tg-height=\"494\"></p>","source":"lsy1610680873436","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>Coinbase Could Have a Facebook-Like Rebound, Bull Argues</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\">\nCoinbase Could Have a Facebook-Like Rebound, Bull Argues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-12 16:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/coinbase-could-have-a-facebook-like-rebound-bull-argues-51620767141?siteid=yhoof2><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencies. It signified that the industry had entered the mainstream and survived a review by the Securities...</p>\n\n<a href=\"https://www.barrons.com/articles/coinbase-could-have-a-facebook-like-rebound-bull-argues-51620767141?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/coinbase-could-have-a-facebook-like-rebound-bull-argues-51620767141?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104508784","content_text":"Coinbase Global’s public listing on the Nasdaq last month was a watershed moment for cryptocurrencies. It signified that the industry had entered the mainstream and survived a review by the Securities and Exchange Commission.But the weeks since have been rockier. Shares of Coinbase (ticker: COIN) peaked at $429 on their opening day but fell below $300 by the following week and closed on Tuesday at $303. The stock’s current price still represents a remarkably high valuation compared with most other stocks, including other fast-growing tech names.But it’s not near the level that bulls projected, and some are now pushing back on the bearish case against Coinbase.In recent notes, analysts argue that the bears are missing the company’s potential. The notes come ahead of Coinbase’s first-quarter earnings report on Thursday. Coinbase already previewed its results, but the company’s comments on the earnings call could move the stock.The main bearish case against Coinbase is that the fees it relies on for more than 90% of its revenue will be whittled away in the years ahead by competitors. Coinbase charges a base fee of 4% to U.S. users that can be lower based on payment methods. Other brokers and exchanges offer cheaper crypto trading and may continue to cut rates. Bears like David Trainer at New Constructs research firm expects competition “should reduce the company’s market share and pricing power.”Other analysts are now pushing back against that thesis. In a note initiating coverage of Coinbase with a Buy rating on Tuesday, Oppenheimer’s Owen Lau wrote that the “fee compression concern is overblown.” He thinks that Coinbase’s business model isn’t the same as a traditional exchange or broker, whose services are easier to duplicate.Coinbase has more comprehensive services, from custody to exchange to brokerage, and its fees take this larger suite of services into account. Handling cryptocurrencies is much trickier than holding stocks, given that crypto has a history of being hacked or lost. The company is also building out a “suite of services” that have recurring revenue, including a program called “staking” that allows crypto holders to earn interest.Lau values Coinbase at 16 times its 2022 revenue expectations, coming to a $434 price target. He has a rating of Outperform on the stock.BTIG analyst Mark Palmer also wrote a bullish note on Coinbase, seeking to dispel the fee-compression argument. Palmer thinks the bears may currently be winning the argument about Coinbase because the company used a nontraditional path to sell its shares, listing them directly on the Nasdaq instead of working with a bank to market and sell them. He thinks the path of Coinbase’s stock may resemble that of Facebook ‘s. Facebook (FB) initially fell after its initial public offering, but recovered as investors grew more comfortable with its business model.“Just as many investors initially struggled to understand Facebook and what it could become, we believe most investors who would consider buying COIN are still trying to gain a better understanding of its business, the environment in which it operates, and the crypto ecosystem in general,” Palmer wrote. “It is our view that the stock’s recent weakness reflects the impact of the company’s decision to pursue a direct listing rather than a traditional IPO with a full marketing roadshow, an approach that has given rise to an information vacuum eagerly filled by those pushing a bearish thesis based almost entirely on the potential for retail take-rate compression.”Palmer’s price target is $500, based on a multiple of 16 times the company’s projected 2024 sales.Coinbase rose 0.84% in premarket trading Wednesday for now.","news_type":1},"isVote":1,"tweetType":1,"viewCount":420,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100277177,"gmtCreate":1619619377699,"gmtModify":1704726933116,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Woots","listText":"Woots","text":"Woots","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/100277177","repostId":"1179396069","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103514606,"gmtCreate":1619793157805,"gmtModify":1704272487311,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103514606","repostId":"1129215602","repostType":4,"repost":{"id":"1129215602","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":1619787703,"share":"https://ttm.financial/m/news/1129215602?lang=&edition=fundamental","pubTime":"2021-04-30 21:01","market":"us","language":"en","title":"Joe Biden's $6 trillion ambition","url":"https://stock-news.laohu8.com/highlight/detail?id=1129215602","media":"Reuters","summary":"In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending ","content":"<p>In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending proposals and so far has delivered on roughly a third of it.</p><p>His plans cover a range of policy goals: Lifting the economy out of the COVID-19 recession; restoring blue collar jobs; beefing up critical U.S. infrastructure; levying higher taxes on corporations and the wealthiest Americans; securing affordable child care for American families.</p><p>The first-term Democrat’s vision to reshape the U.S. economy has come in the form of three broad fiscal programs, each bearing a three-letter acronym distinguished from one another only by their middle initials: The ARP (American Rescue Plan); the AJP (American Jobs Plan); and AFP (American Families Plan).</p><p>Here’s where they stand:</p><p>ARP: American Rescue Plan - $1.9 trillion</p><p>Status: Passed</p><p>The first of Biden’s proposals, floated before he was sworn into office on Jan. 20, is the only of the three so far to have been enacted into law. It passed in March on party-line votes, backed by Democrats, rejected by Republicans.</p><p>Its signature components were $1,400 one-time payments that went out to most American households this spring and the extension of a $300 a week federal enhancement to state unemployment benefits until September. Those funds helped lift consumer spending in the first quarter at an annualized rate of 10.7%, among the largest gains in the post-World War Two era.</p><p>The ARP also included funds to accelerate the COVID-19 vaccination campaign and to assist the businesses and communities most affected by the pandemic. The United States has emerged as one of the world leaders in the COVID-19 inoculation effort, with 43% of U.S. adults having gotten at least one dose of vaccine and 30% now fully vaccinated.</p><p>AJP: American Jobs Plan - $2.3 trillion</p><p>Status: Blueprint</p><p>Biden announced what he bills as his “blue collar blueprint” at the end of March, and while it has been the focus of much discussion in Washington, no formal proposal has yet surfaced on Capitol Hill.</p><p>The plan’s two biggest buckets - at $650 billion each - would:</p><p>* Fund traditional public transportation projects like roads and bridges while underwriting investments in the infrastructure to kick the transition to electric vehicles into high gear; and</p><p>* Pay to refurbish aging public schools and decaying public water systems and expand broadband access for the 35% of rural Americans lacking such high-speed communications connectivity.</p><p>Other components of the AJP would provide funds for home- or community-based care for the elderly and disabled and would invest in domestic manufacturing for industries the Biden administration considers critical to the national interest, such as semiconductors and green energy.</p><p>To pay for these, Biden has proposed raising the corporate tax rate to 28% from 21%; eliminating all fossil fuel industry subsidies and loopholes; and establishing a minimum tax on income companies use to report profits to investors.</p><p>AFP: American Families Plan - $1.8 trillion</p><p>Status: Blueprint</p><p>The last of Biden’s proposals is a mix of new spending, totaling $1 trillion, and tax credits for working families, about $800 billion. It went up the flagpole in late April and features his first stab at getting the wealthiest Americans to pay more in taxes. Like the AJP, it has yet to get as far as a formal bill before Congress.</p><p>Its key spending elements include provisions:</p><p>* Aiming to help working parents cover childcare expenses and subsidizing daycare costs for families with kids under 5 and provide free preschool for 3- and 4-year-olds.</p><p>* Providing free community college tuition; boosting a federal tuition grant program; and subsidizing tuition for students from middle-class families attending an historically Black college or university, or HBCU.</p><p>* Extending the child tax credit, included in the ARP enacted in March, through 2025. The current credit, essentially another monthly payment from the government for most families, will sunset at the end of this year.</p><p>* Roughly doubling the tax rate paid by high earners on their investment income to 39.6% from 20% now and lifting the highest tax rate on ordinary income to 39.6% from 37%.</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>Joe Biden's $6 trillion ambition</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\">\nJoe Biden's $6 trillion ambition\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\">2021-04-30 21:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending proposals and so far has delivered on roughly a third of it.</p><p>His plans cover a range of policy goals: Lifting the economy out of the COVID-19 recession; restoring blue collar jobs; beefing up critical U.S. infrastructure; levying higher taxes on corporations and the wealthiest Americans; securing affordable child care for American families.</p><p>The first-term Democrat’s vision to reshape the U.S. economy has come in the form of three broad fiscal programs, each bearing a three-letter acronym distinguished from one another only by their middle initials: The ARP (American Rescue Plan); the AJP (American Jobs Plan); and AFP (American Families Plan).</p><p>Here’s where they stand:</p><p>ARP: American Rescue Plan - $1.9 trillion</p><p>Status: Passed</p><p>The first of Biden’s proposals, floated before he was sworn into office on Jan. 20, is the only of the three so far to have been enacted into law. It passed in March on party-line votes, backed by Democrats, rejected by Republicans.</p><p>Its signature components were $1,400 one-time payments that went out to most American households this spring and the extension of a $300 a week federal enhancement to state unemployment benefits until September. Those funds helped lift consumer spending in the first quarter at an annualized rate of 10.7%, among the largest gains in the post-World War Two era.</p><p>The ARP also included funds to accelerate the COVID-19 vaccination campaign and to assist the businesses and communities most affected by the pandemic. The United States has emerged as one of the world leaders in the COVID-19 inoculation effort, with 43% of U.S. adults having gotten at least one dose of vaccine and 30% now fully vaccinated.</p><p>AJP: American Jobs Plan - $2.3 trillion</p><p>Status: Blueprint</p><p>Biden announced what he bills as his “blue collar blueprint” at the end of March, and while it has been the focus of much discussion in Washington, no formal proposal has yet surfaced on Capitol Hill.</p><p>The plan’s two biggest buckets - at $650 billion each - would:</p><p>* Fund traditional public transportation projects like roads and bridges while underwriting investments in the infrastructure to kick the transition to electric vehicles into high gear; and</p><p>* Pay to refurbish aging public schools and decaying public water systems and expand broadband access for the 35% of rural Americans lacking such high-speed communications connectivity.</p><p>Other components of the AJP would provide funds for home- or community-based care for the elderly and disabled and would invest in domestic manufacturing for industries the Biden administration considers critical to the national interest, such as semiconductors and green energy.</p><p>To pay for these, Biden has proposed raising the corporate tax rate to 28% from 21%; eliminating all fossil fuel industry subsidies and loopholes; and establishing a minimum tax on income companies use to report profits to investors.</p><p>AFP: American Families Plan - $1.8 trillion</p><p>Status: Blueprint</p><p>The last of Biden’s proposals is a mix of new spending, totaling $1 trillion, and tax credits for working families, about $800 billion. It went up the flagpole in late April and features his first stab at getting the wealthiest Americans to pay more in taxes. Like the AJP, it has yet to get as far as a formal bill before Congress.</p><p>Its key spending elements include provisions:</p><p>* Aiming to help working parents cover childcare expenses and subsidizing daycare costs for families with kids under 5 and provide free preschool for 3- and 4-year-olds.</p><p>* Providing free community college tuition; boosting a federal tuition grant program; and subsidizing tuition for students from middle-class families attending an historically Black college or university, or HBCU.</p><p>* Extending the child tax credit, included in the ARP enacted in March, through 2025. The current credit, essentially another monthly payment from the government for most families, will sunset at the end of this year.</p><p>* Roughly doubling the tax rate paid by high earners on their investment income to 39.6% from 20% now and lifting the highest tax rate on ordinary income to 39.6% from 37%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129215602","content_text":"In his first 100 days in office, President Joe Biden has offered up roughly $6 trillion in spending proposals and so far has delivered on roughly a third of it.His plans cover a range of policy goals: Lifting the economy out of the COVID-19 recession; restoring blue collar jobs; beefing up critical U.S. infrastructure; levying higher taxes on corporations and the wealthiest Americans; securing affordable child care for American families.The first-term Democrat’s vision to reshape the U.S. economy has come in the form of three broad fiscal programs, each bearing a three-letter acronym distinguished from one another only by their middle initials: The ARP (American Rescue Plan); the AJP (American Jobs Plan); and AFP (American Families Plan).Here’s where they stand:ARP: American Rescue Plan - $1.9 trillionStatus: PassedThe first of Biden’s proposals, floated before he was sworn into office on Jan. 20, is the only of the three so far to have been enacted into law. It passed in March on party-line votes, backed by Democrats, rejected by Republicans.Its signature components were $1,400 one-time payments that went out to most American households this spring and the extension of a $300 a week federal enhancement to state unemployment benefits until September. Those funds helped lift consumer spending in the first quarter at an annualized rate of 10.7%, among the largest gains in the post-World War Two era.The ARP also included funds to accelerate the COVID-19 vaccination campaign and to assist the businesses and communities most affected by the pandemic. The United States has emerged as one of the world leaders in the COVID-19 inoculation effort, with 43% of U.S. adults having gotten at least one dose of vaccine and 30% now fully vaccinated.AJP: American Jobs Plan - $2.3 trillionStatus: BlueprintBiden announced what he bills as his “blue collar blueprint” at the end of March, and while it has been the focus of much discussion in Washington, no formal proposal has yet surfaced on Capitol Hill.The plan’s two biggest buckets - at $650 billion each - would:* Fund traditional public transportation projects like roads and bridges while underwriting investments in the infrastructure to kick the transition to electric vehicles into high gear; and* Pay to refurbish aging public schools and decaying public water systems and expand broadband access for the 35% of rural Americans lacking such high-speed communications connectivity.Other components of the AJP would provide funds for home- or community-based care for the elderly and disabled and would invest in domestic manufacturing for industries the Biden administration considers critical to the national interest, such as semiconductors and green energy.To pay for these, Biden has proposed raising the corporate tax rate to 28% from 21%; eliminating all fossil fuel industry subsidies and loopholes; and establishing a minimum tax on income companies use to report profits to investors.AFP: American Families Plan - $1.8 trillionStatus: BlueprintThe last of Biden’s proposals is a mix of new spending, totaling $1 trillion, and tax credits for working families, about $800 billion. It went up the flagpole in late April and features his first stab at getting the wealthiest Americans to pay more in taxes. Like the AJP, it has yet to get as far as a formal bill before Congress.Its key spending elements include provisions:* Aiming to help working parents cover childcare expenses and subsidizing daycare costs for families with kids under 5 and provide free preschool for 3- and 4-year-olds.* Providing free community college tuition; boosting a federal tuition grant program; and subsidizing tuition for students from middle-class families attending an historically Black college or university, or HBCU.* Extending the child tax credit, included in the ARP enacted in March, through 2025. The current credit, essentially another monthly payment from the government for most families, will sunset at the end of this year.* Roughly doubling the tax rate paid by high earners on their investment income to 39.6% from 20% now and lifting the highest tax rate on ordinary income to 39.6% from 37%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370259871,"gmtCreate":1618589229493,"gmtModify":1704713218125,"author":{"id":"3581475652211170","authorId":"3581475652211170","name":"Jdenchew","avatar":"https://static.tigerbbs.com/b7c411943ef55100b28fa7adae11cd85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581475652211170","authorIdStr":"3581475652211170"},"themes":[],"htmlText":"Like and comment pls~","listText":"Like and comment pls~","text":"Like and comment pls~","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370259871","repostId":"1178531879","repostType":4,"repost":{"id":"1178531879","kind":"news","pubTimestamp":1618572915,"share":"https://ttm.financial/m/news/1178531879?lang=&edition=fundamental","pubTime":"2021-04-16 19:35","market":"us","language":"en","title":"Nio Stock Looks More Attractive Now, But Is It a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1178531879","media":"InvestorPlace","summary":"The fundamentals are less enticing for NIO stock than you might think.At its peak euphoria, electric","content":"<blockquote>The fundamentals are less enticing for NIO stock than you might think.</blockquote><p>At its peak euphoria, electric vehicle manufacturer<b>Nio</b>(NYSE:<b><u>NIO</u></b>) was tempting a run to $70 territory, possibly breaking into triple digits. Unfortunately, a number of factors, with the global semiconductor supply chain disruption being the biggest, contributed to a steep correction of NIO stock. Nevertheless, with the company being one of China’s most relevant innovators, another temptation has arisen.</p><p>This time, investors are wondering if now represents an ideal entry point. This sentiment is particularly strong for those who may have ruefully missed out on the rally — or sold their holdings prematurely.</p><p>Having gained over 1,012% over the trailing year, discounts have been few and far between. With NIO stock down substantially from the Feb. 9 session (at time of writing, minus 39%), the EV firm offers a compelling contrarian case.</p><p>Further, there’s an argument to be made that theglobal chip shortage— no matter how painful it is right now — will eventually fade. Here, the novel coronavirus pandemic may offer a parallel. At the beginning of the crisis, it was natural for people to have doom-and-gloom thoughts. Later, as the healthcare industry adjusted to the crisis, the threat became less pronounced. Today, we’re seeing light at the end of the tunnel.</p><p>In addition, NIO stock is backed by innovations other than the underlyingEVs. As our own Robert Lakin pointed out, Nio’s Battery as a Service model may be a gamechanger. He noted that this was the key reason why Goldman Sachs upgraded NIO to “hold” from “sell,” providing a 12-month price target of $59 a pop.</p><p>Moreover, Lakin wrote:</p><blockquote>“Most households in China lack conditions to install private chargers, especially outside of main cities,Goldman analysts said in December. “In addition, (battery-as-a-service) also represents a systematic solution to the long-existing challenges for EV penetration, including battery degradation, battery upgradability, and lower resale value,” they said.”</blockquote><p>Although it’s a pioneering concept, it might not be enough to move the needle for the EV maker just yet.</p><p><b>A Litany of Problems Affect NIO Stock</b></p><p>While we may have avoided utter doom regarding the coronavirus, we’re still not completely out of the woods. No one knows for sure what will come out of this crisis, which leads me to the semiconductor issue regarding NIO stock. Based on historical trends, we’re assuming that everything will be A-OK eventually. But again, who knows?</p><p>That’s one of the warnings that Morris A. Cohen of the Wharton School delivered to the rest of us. Modern semiconductor applications are incredibly complex, withmultiple dependencies built into a product. In other words, the production process can’t function when only part of a product or system has the required supply of chips.</p><p>More alarmingly for NIO stock, Cohen states that vehicle systems that use semiconductors are both convoluted and non-interoperable. Therefore, you can’t just take chips designed for one car brand and apply them to another. This will greatly impact the ability for the automotive industry to recover.</p><p>If that wasn’t bad enough, Cohen argues that structurally, the supply chain may never be the same. In the old economic paradigm, the U.S. model was, to put it bluntly and impolitely, to exploit cheap Chinese labor. Now, China wants its citizens to have a taste of the good life. That means the country is no longer a hub for semiconductor production for everyone else but represents a supply source to feed domestic demand.</p><p>Theoretically, that angle might benefit NIO stock relative to American EV manufacturers. But then again, Nio has made no secret about its international ambitions. If Nioever does come to the U.S., it will need to figure out the ultimate perplexing problem: how to make EVs compete with economy model combustion cars?</p><p>As intriguing as its BaaS model is, it’s not going to solve the affordability problem affecting NIO stock and other EV companies.</p><p><b>A Peculiar Technical Setup</b></p><p>One thing that gives me pause about NIO stock is the appearance of a pennant formation that began in early March of this year. If the pennant appeared as a consolidation following a sharp spike rally, most technical analysts would likely regard this as a continuation pattern; in other words, more bullishness ahead.</p><p>However, the pennant is materializing following a steep corrective phase. Typically, the interpretation is bearish. But you just don’t know for sure since we’re in an emotionally charged market environment.</p><p>My gut feeling is that we’re going to see further downside from here. Of course, this is just my opinion based on the outside fundamentals. Anything can happen and you should be prepared for all possible outcomes.</p>","source":"lsy1606302653667","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>Nio Stock Looks More Attractive Now, But Is It a Buy?</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\">\nNio Stock Looks More Attractive Now, But Is It a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 19:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/nio-stock-looks-more-attractive-now-but-is-it-a-buy/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The fundamentals are less enticing for NIO stock than you might think.At its peak euphoria, electric vehicle manufacturerNio(NYSE:NIO) was tempting a run to $70 territory, possibly breaking into ...</p>\n\n<a href=\"https://investorplace.com/2021/04/nio-stock-looks-more-attractive-now-but-is-it-a-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://investorplace.com/2021/04/nio-stock-looks-more-attractive-now-but-is-it-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178531879","content_text":"The fundamentals are less enticing for NIO stock than you might think.At its peak euphoria, electric vehicle manufacturerNio(NYSE:NIO) was tempting a run to $70 territory, possibly breaking into triple digits. Unfortunately, a number of factors, with the global semiconductor supply chain disruption being the biggest, contributed to a steep correction of NIO stock. Nevertheless, with the company being one of China’s most relevant innovators, another temptation has arisen.This time, investors are wondering if now represents an ideal entry point. This sentiment is particularly strong for those who may have ruefully missed out on the rally — or sold their holdings prematurely.Having gained over 1,012% over the trailing year, discounts have been few and far between. With NIO stock down substantially from the Feb. 9 session (at time of writing, minus 39%), the EV firm offers a compelling contrarian case.Further, there’s an argument to be made that theglobal chip shortage— no matter how painful it is right now — will eventually fade. Here, the novel coronavirus pandemic may offer a parallel. At the beginning of the crisis, it was natural for people to have doom-and-gloom thoughts. Later, as the healthcare industry adjusted to the crisis, the threat became less pronounced. Today, we’re seeing light at the end of the tunnel.In addition, NIO stock is backed by innovations other than the underlyingEVs. As our own Robert Lakin pointed out, Nio’s Battery as a Service model may be a gamechanger. He noted that this was the key reason why Goldman Sachs upgraded NIO to “hold” from “sell,” providing a 12-month price target of $59 a pop.Moreover, Lakin wrote:“Most households in China lack conditions to install private chargers, especially outside of main cities,Goldman analysts said in December. “In addition, (battery-as-a-service) also represents a systematic solution to the long-existing challenges for EV penetration, including battery degradation, battery upgradability, and lower resale value,” they said.”Although it’s a pioneering concept, it might not be enough to move the needle for the EV maker just yet.A Litany of Problems Affect NIO StockWhile we may have avoided utter doom regarding the coronavirus, we’re still not completely out of the woods. No one knows for sure what will come out of this crisis, which leads me to the semiconductor issue regarding NIO stock. Based on historical trends, we’re assuming that everything will be A-OK eventually. But again, who knows?That’s one of the warnings that Morris A. Cohen of the Wharton School delivered to the rest of us. Modern semiconductor applications are incredibly complex, withmultiple dependencies built into a product. In other words, the production process can’t function when only part of a product or system has the required supply of chips.More alarmingly for NIO stock, Cohen states that vehicle systems that use semiconductors are both convoluted and non-interoperable. Therefore, you can’t just take chips designed for one car brand and apply them to another. This will greatly impact the ability for the automotive industry to recover.If that wasn’t bad enough, Cohen argues that structurally, the supply chain may never be the same. In the old economic paradigm, the U.S. model was, to put it bluntly and impolitely, to exploit cheap Chinese labor. Now, China wants its citizens to have a taste of the good life. That means the country is no longer a hub for semiconductor production for everyone else but represents a supply source to feed domestic demand.Theoretically, that angle might benefit NIO stock relative to American EV manufacturers. But then again, Nio has made no secret about its international ambitions. If Nioever does come to the U.S., it will need to figure out the ultimate perplexing problem: how to make EVs compete with economy model combustion cars?As intriguing as its BaaS model is, it’s not going to solve the affordability problem affecting NIO stock and other EV companies.A Peculiar Technical SetupOne thing that gives me pause about NIO stock is the appearance of a pennant formation that began in early March of this year. If the pennant appeared as a consolidation following a sharp spike rally, most technical analysts would likely regard this as a continuation pattern; in other words, more bullishness ahead.However, the pennant is materializing following a steep corrective phase. Typically, the interpretation is bearish. But you just don’t know for sure since we’re in an emotionally charged market environment.My gut feeling is that we’re going to see further downside from here. Of course, this is just my opinion based on the outside fundamentals. Anything can happen and you should be prepared for all possible outcomes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}