Schemppho personal page - To The Moon

Schemppho

Schemppho

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2021-04-29

$RiceBran(RIBT)$[Cry] [Cry] [Cry] [Cry] [Cry] [Cry]

2022-01-15

Happy

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2021-08-05

Good

Howard Marks: Macro forecasts are'either wrong or waste '

2021-07-19

$Synthetic Biologics Inc(SYN)$ ?

2022-01-14

H

Tiger Comments: The mysterious asset management predator is listed, but do you dare to buy stocks?

2022-03-13

Ggg

Reminder: U.S. daylight saving time on the 13th, U.S. stocks open 1 hour earlier

2022-01-16

G

He XPeng: The whole story of "Dreamer in the Sky" building cars

2021-04-28

New guy

2022-04-28

$1P2R.SI(1P2R.SI)$??????

2022-03-11

G

In times of high inflation, this is the type of asset Buffett is buying

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14:38","market":"us","language":"zh","title":"Reminder: U.S. daylight saving time on the 13th, U.S. stocks open 1 hour earlier","url":"https://stock-news.laohu8.com/highlight/detail?id=1177231006","media":"老虎资讯综合","summary":"美国2022年夏令时将于2022年3月13日美东时间02：00开始，至2022年11月6日美东时间02：00终止，届时美股市场的常规交易时段对应的北京时间将提前1小时，即变为周一至周五21：30至次日04：00。3月14日为进入夏令时后美股首个交易日。","content":"<p><html><head></head><body>The U.S. 2022 daylight saving time will start at 02:00 Eastern Time on March 13, 2022 and end at 02:00 Eastern Time on November 6, 2022. At that time, the Beijing time corresponding to the regular trading session of the U.S. stock market will be advanced by 1 hour, that is, from 21:30 Monday to Friday to 04:00 the next day. March 14 is the first trading day for U.S. stocks after entering daylight saving time.</p><p><b>Trading hours</b></p><p>Eastern Time: 09:30 ~ 16:00 (closed at noon); Beijing time: 21:30 ~ 04:00 the next day (daylight saving time, March ~ early November)</p><p><b>Pre-market trading hours</b></p><p>EST: 04:00 ~ 09:30; Beijing time: 16:00 ~ 21:30 (daylight saving time, March ~ early November)</p><p><b>After-hours trading hours</b></p><p>EST: 16:00 ~ 20:00; Beijing time: 04:00 ~ 08:00 (daylight saving time, March ~ early November)</p><p>(Note: Daylight saving time is from the second Sunday in March to the first Sunday in November each year, and winter time is from the first Sunday in November to the second Sunday in March each year.)</p><p><img src=\"https://static.tigerbbs.com/69c49b7e49385a32a49c0ed123c91847\" tg-width=\"674\" tg-height=\"365\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: U.S. daylight saving time on the 13th, U.S. stocks open 1 hour earlier</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: U.S. daylight saving time on the 13th, U.S. stocks open 1 hour earlier\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-03-07 14:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The U.S. 2022 daylight saving time will start at 02:00 Eastern Time on March 13, 2022 and end at 02:00 Eastern Time on November 6, 2022. At that time, the Beijing time corresponding to the regular trading session of the U.S. stock market will be advanced by 1 hour, that is, from 21:30 Monday to Friday to 04:00 the next day. March 14 is the first trading day for U.S. stocks after entering daylight saving time.</p><p><b>Trading hours</b></p><p>Eastern Time: 09:30 ~ 16:00 (closed at noon); Beijing time: 21:30 ~ 04:00 the next day (daylight saving time, March ~ early November)</p><p><b>Pre-market trading hours</b></p><p>EST: 04:00 ~ 09:30; Beijing time: 16:00 ~ 21:30 (daylight saving time, March ~ early November)</p><p><b>After-hours trading hours</b></p><p>EST: 16:00 ~ 20:00; Beijing time: 04:00 ~ 08:00 (daylight saving time, March ~ early November)</p><p>(Note: Daylight saving time is from the second Sunday in March to the first Sunday in November each year, and winter time is from the first Sunday in November to the second Sunday in March each year.)</p><p><img src=\"https://static.tigerbbs.com/69c49b7e49385a32a49c0ed123c91847\" tg-width=\"674\" tg-height=\"365\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/69c49b7e49385a32a49c0ed123c91847","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177231006","content_text":"美国2022年夏令时将于2022年3月13日美东时间02：00开始，至2022年11月6日美东时间02：00终止，届时美股市场的常规交易时段对应的北京时间将提前1小时，即变为周一至周五21：30至次日04：00。3月14日为进入夏令时后美股首个交易日。交易时间美国东部时间：09：30~16：00 (午间不休市)；北京时间：21：30~次日04：00（夏令时，3月~11月初）盘前交易时间美国东部时间：04：00~09：30；北京时间：16：00~21:30（夏令时，3月~11月初）盘后交易时间美国东部时间：16：00~20：00；北京时间：04：00~08：00（夏令时，3月~11月初）（注：夏令时为每年3月的第二个星期日至11月的第一个星期日，冬令时为每年11月的第一个星期日至次年3月的第二个星期日。）","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2037,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036198727,"gmtCreate":1647007985680,"gmtModify":1676534186721,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"G","listText":"G","text":"G","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036198727","repostId":"1197145766","repostType":4,"repost":{"id":"1197145766","kind":"news","pubTimestamp":1646963483,"share":"https://ttm.financial/m/news/1197145766?lang=en_US&edition=fundamental","pubTime":"2022-03-11 09:51","market":"us","language":"zh","title":"In times of high inflation, this is the type of asset Buffett is buying","url":"https://stock-news.laohu8.com/highlight/detail?id=1197145766","media":"Wind资讯","summary":"投资者担心即将出现滞涨风险，对全球经济前景感到担忧，避险情绪有所升温。","content":"<p><html><head></head><body>The U.S. Labor Department released January data showing that the consumer price index (CPI) rose 7.9% in February compared with the same period in 2021. Now, the inflation rate in the United States is at its highest point in nearly 40 years. Investors are worried about impending stagflation risks and worried about the global economic outlook, and risk aversion has heated up. The S&P 500 and Dow Jones Industrials remain in correction territory, while the Nasdaq is in a bear market.</p><p><img src=\"https://static.tigerbbs.com/e11858a9622f59c3239fcccc351b5768\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>U.S. inflation hit a four-year high in February, with the consumer price index rising 7.9% year-on-year. Gasoline prices are at record levels, hurting consumer budgets. Analysts have warned that persistent inflation and slowing economic growth, also known as stagflation, could be seen in the U.S. and Europe, with higher energy prices eating into household spending on other items.</p><p>\"COVID-19 pandemic will mark the dividing line between the deflationary forces of the past 30 to 40 years and the recovery of inflation over the next 20 years,\" said former Bank of England governor CharlesGoodhart, who predicted that inflation in advanced economies would stabilize at 3% to 4% around the end of 2022 and remain there for several decades, compared to about 1.5% in COVID-19 pandemic in the previous decade.</p><p>\"The Fed has an extremely tough challenge, and it has to really walk a tightrope between inflation and pushing us into a recession,\" said Ed Keon, chief investment strategist at PGIM Quantitative Solutions.</p><p>These numbers will undoubtedly leave many investors wondering: How can I protect myself from inflation? Generally, many experts recommend investing wisely to hedge against inflation. But what kind of companies should investors buy? Here's what Warren Buffett has said over the past few decades.</p><p>At the 2015 shareholder meeting, the Berkshire Hathaway chairman and CEO noted: \"In times of inflation, the best businesses are those that you buy once and don't have to continue to make capital investments afterwards,\" while you should avoid \"any business that requires significant capital investments\". He stressed that real estate does well during inflation, you can buy it once and then appreciate too; At the same time, he noted that industries such as utilities and railroads aren't good investments in times of inflation.</p><p>At a shareholder meeting in 2009, Buffett pointed out that the first thing you can do to fight inflation is to invest in yourself and your skills. After this, he said, \"The second best protection is to run a good business,\" meaning that even if the company has to raise prices, there is still demand for its products.</p><p>In a 1981 letter to shareholders, Buffett made this as clear as ever, in which he wrote that a company that can withstand an inflationary environment must have two characteristics:</p><p><b>(1) the ability to raise prices easily (even when product demand is flat and capacity is underutilized) without fear of significant loss of market share or unit production;</b></p><p><b>(2) A small amount of additional capital investment is needed to accommodate large growth in firm size (usually generated more by inflation than real growth).</b></p><p>It is worth noting that Buffett prefers the tried and tested method to choose individual stocks: index funds. In 2021, at a shareholder meeting, Buffett declared that \"I don't think the average person can pick stocks,\" noting that he recommended holding S&P 500 index funds for the long term.</p><p></body></html></p>","source":"wind","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>In times of high inflation, this is the type of asset Buffett is buying</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIn times of high inflation, this is the type of asset Buffett is buying\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wind资讯</strong><span class=\"h-time small\">2022-03-11 09:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The U.S. Labor Department released January data showing that the consumer price index (CPI) rose 7.9% in February compared with the same period in 2021. Now, the inflation rate in the United States is at its highest point in nearly 40 years. Investors are worried about impending stagflation risks and worried about the global economic outlook, and risk aversion has heated up. The S&P 500 and Dow Jones Industrials remain in correction territory, while the Nasdaq is in a bear market.</p><p><img src=\"https://static.tigerbbs.com/e11858a9622f59c3239fcccc351b5768\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>U.S. inflation hit a four-year high in February, with the consumer price index rising 7.9% year-on-year. Gasoline prices are at record levels, hurting consumer budgets. Analysts have warned that persistent inflation and slowing economic growth, also known as stagflation, could be seen in the U.S. and Europe, with higher energy prices eating into household spending on other items.</p><p>\"COVID-19 pandemic will mark the dividing line between the deflationary forces of the past 30 to 40 years and the recovery of inflation over the next 20 years,\" said former Bank of England governor CharlesGoodhart, who predicted that inflation in advanced economies would stabilize at 3% to 4% around the end of 2022 and remain there for several decades, compared to about 1.5% in COVID-19 pandemic in the previous decade.</p><p>\"The Fed has an extremely tough challenge, and it has to really walk a tightrope between inflation and pushing us into a recession,\" said Ed Keon, chief investment strategist at PGIM Quantitative Solutions.</p><p>These numbers will undoubtedly leave many investors wondering: How can I protect myself from inflation? Generally, many experts recommend investing wisely to hedge against inflation. But what kind of companies should investors buy? Here's what Warren Buffett has said over the past few decades.</p><p>At the 2015 shareholder meeting, the Berkshire Hathaway chairman and CEO noted: \"In times of inflation, the best businesses are those that you buy once and don't have to continue to make capital investments afterwards,\" while you should avoid \"any business that requires significant capital investments\". He stressed that real estate does well during inflation, you can buy it once and then appreciate too; At the same time, he noted that industries such as utilities and railroads aren't good investments in times of inflation.</p><p>At a shareholder meeting in 2009, Buffett pointed out that the first thing you can do to fight inflation is to invest in yourself and your skills. After this, he said, \"The second best protection is to run a good business,\" meaning that even if the company has to raise prices, there is still demand for its products.</p><p>In a 1981 letter to shareholders, Buffett made this as clear as ever, in which he wrote that a company that can withstand an inflationary environment must have two characteristics:</p><p><b>(1) the ability to raise prices easily (even when product demand is flat and capacity is underutilized) without fear of significant loss of market share or unit production;</b></p><p><b>(2) A small amount of additional capital investment is needed to accommodate large growth in firm size (usually generated more by inflation than real growth).</b></p><p>It is worth noting that Buffett prefers the tried and tested method to choose individual stocks: index funds. In 2021, at a shareholder meeting, Buffett declared that \"I don't think the average person can pick stocks,\" noting that he recommended holding S&P 500 index funds for the long term.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://t.wind.com.cn/mobwftweb/M/news.html?show=wft&shareCode=ae1d15d7e346f65bac3a873b5fa3cc2d&code=D0E31498A0C5&newsopenstyle=original&lan=cn&device=ios&fontsize=normal&related=true&version=22.1.0#/3E7BD334C3DCE52E5087F3BD55F83EE2\">Wind资讯</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://t.wind.com.cn/mobwftweb/M/news.html?show=wft&shareCode=ae1d15d7e346f65bac3a873b5fa3cc2d&code=D0E31498A0C5&newsopenstyle=original&lan=cn&device=ios&fontsize=normal&related=true&version=22.1.0#/3E7BD334C3DCE52E5087F3BD55F83EE2","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197145766","content_text":"美国劳工部(Labor Department)公布1月数据显示，与2021年同期相比，2月份消费者价格指数(CPI)上涨了7.9%。现在，美国的通货膨胀率达到了近40年来的最高点。投资者担心即将出现滞涨风险，对全球经济前景感到担忧，避险情绪有所升温。标准普尔 500 指数和道琼斯工业指数仍处于修正区域，而纳斯达克指数则处于熊市。美国通胀在 2 月份达到了 4 年来的新高，消费者价格指数同比上涨 7.9%。汽油价格处于创纪录水平，损害了消费者的预算。分析师警告称，美国和欧洲可能会出现持续通胀和经济增长放缓（也称为滞胀），能源价格上涨会侵蚀家庭在其他项目上的支出。前英国央行行长查尔斯·古德哈特（CharlesGoodhart）表示：“新冠疫情将标志着过去30到40年的通缩力量与未来20年的通胀复苏之间的分界线。”他预测，发达经济体的通胀率将在2022年底左右稳定在3%至4%的水平，并在几十年内保持在该水平，而新冠疫情前十年约为1.5%。PGIM Quantitative Solutions 首席投资策略师 Ed Keon 表示：“美联储面临着极其艰巨的挑战，它必须在通胀和将我们推入衰退之间真正走钢丝。”这些数字无疑会让许多投资者产生疑问：我该如何保护自己不受通胀影响？一般来说，许多专家建议明智地投资以对冲通货膨胀。但投资者应该买入哪类公司呢？下面是沃伦·巴菲特在过去几十年里说过的话。在2015年的股东大会上，这位伯克希尔·哈撒韦公司的董事长兼首席执行官指出:“在通胀时期，最好的业务是那些你买了一次，之后就不必继续进行资本投资的业务，”同时你应该避免“任何需要大量资本投资的业务”。他强调，房地产在通货膨胀期间表现良好，你可以购买一次，然后也会升值；与此同时，他指出，公用事业和铁路等行业在通胀时期并不是好的投资。在2009年的一次股东大会上，巴菲特指出，你能做的抵御通胀的第一件事就是投资你自己和你的技能。在此之后，他说，“第二好的保护措施是经营好生意”，这意味着即使公司不得不提高价格，其产品仍有需求。在1981年的一封致股东的信中，巴菲特像以往一样清楚地阐明了这一点，他在信中写道，能够抵御通胀环境的公司必须具备两个特征：(1)能够很容易地提高价格(即使在产品需求持平和产能未被充分利用的情况下)，而不用担心市场份额或单位产量的显著损失；(2)只需要少量的额外资本投资，就能适应企业规模的大幅增长(通常更多地是由通胀而非实际增长产生的)。值得注意的是，比起选择个股，巴菲特更青睐采用久经考验的方法：指数基金。2021年，在一次股东大会上，巴菲特宣称“我不认为一般人可以挑选股票”，并指出，他建议长期持有标准普尔500指数基金。","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007230788,"gmtCreate":1642902691559,"gmtModify":1676533755935,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"gg","listText":"gg","text":"gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007230788","repostId":"1182083319","repostType":4,"repost":{"id":"1182083319","kind":"news","pubTimestamp":1642847449,"share":"https://ttm.financial/m/news/1182083319?lang=en_US&edition=fundamental","pubTime":"2022-01-22 18:30","market":"us","language":"zh","title":"Falling more than 1% for four consecutive days, it is unusual for the Nasdaq to fall like this","url":"https://stock-news.laohu8.com/highlight/detail?id=1182083319","media":"华尔街见闻","summary":"奈飞拉开了大型科技股财报季的序幕，但是奈飞财报“出师不利”，拖累了纳指走势。","content":"<p><html><head></head><body>As the market expected the Federal Reserve's rate hike ahead of schedule, U.S. stocks fell due to its impact, especially the decline in high-valued technology stocks.</p><p>The technology-dominated Nasdaq index was dragged down and fell rapidly. Since the beginning of this year, it has erased nearly half of last year's gains.</p><p><b>U.S. stocks closed overnight with an avalanche of technology stocks. The Nasdaq fell for four consecutive days, closing down 385.10 points, or 2.72%, to 13,768.92 points, a record low in seven and a half months. It was also the first time since June 9 last year that it closed below 14,000 points.</b></p><p><img src=\"https://static.tigerbbs.com/2a7dd3c2c71a433b4efcf893ed952dd7\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>On Thursday, the Senate Judiciary Committee voted to advance the \"American Innovation and Choice Online Act.\" The market was worried that the introduction of a blockbuster antitrust bill might deal a heavy blow to technology giants. The Nasdaq closed down more than 1%. Previously, the Nasdaq had fallen by more than 1% for two consecutive days.</p><p>Since entering 2022, the Nasdaq's painting style has suddenly changed, and it has begun to accelerate its decline, falling 7.6% throughout the week, the worst weekly performance since October 2020.</p><p>At present, it has fallen by more than 14% from the historical closing high in mid-November last year, and it is deeply trapped in the technical level correction range.</p><p>Bloomberg called it \"unusual\" for the Nasdaq to fall like this.<b>Analysts generally believe that when the index falls by more than 10% from its high point, the index enters the \"adjustment range\".</b></p><p><img src=\"https://static.tigerbbs.com/98c558a159e7017964d311f1b8b063ee\" tg-width=\"670\" tg-height=\"404\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Why are U.S. stocks volatile?</p><p>The analysis pointed out that U.S. bond yields rose sharply this week, and rising interest rates continued to exert downward pressure on technology stocks and high-growth stocks by reducing the attractiveness of future corporate profits, which in turn put downward pressure on the trend of the Nasdaq.</p><p>It is worth mentioning that starting this week, Netflix kicked off the earnings season of large technology stocks, but Netflix's earnings report \"got off to a bad start\", dragging down the trend of the Nasdaq<b>。</b></p><p>In addition, investors are turning to the Federal Reserve's January FOMC policy meeting to be held next week. The market is mainly worried about the Federal Reserve's aggressive rate hike to curb inflation, and it is expected that it may aggressively rate hike, shrinking balance sheet, and increase borrowing costs this year.</p><p>Add to that geopolitical tensions between Russia and NATO around Ukraine.</p><p><b>Under multiple concerns, market sentiment and risk appetite have been suppressed, and risky assets have generally fallen.</b></p><p>Wall Street warned that the \"bubble\" is about to burst. On the one hand, economic growth is slowing down, and on the other hand, policy tightening is accelerating. 2022 will not be a smooth year for U.S. stocks.</p><p>Jim Paulsen, chief investment strategist of Leuthold Group, an investment institution, believes that the stock market sentiment has been sluggish in the past few days, and the driving role of fundamentals has been suspended. Market actions entirely depend on technical support levels. Before the plunge stops, bond market yields, economic data and even financial reports, etc. Fundamental factors may not have much impact.</p><p></body></html></p>","source":"highlight_wallstreetcn","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>Falling more than 1% for four consecutive days, it is unusual for the Nasdaq to fall like this</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFalling more than 1% for four consecutive days, it is unusual for the Nasdaq to fall like this\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-01-22 18:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>As the market expected the Federal Reserve's rate hike ahead of schedule, U.S. stocks fell due to its impact, especially the decline in high-valued technology stocks.</p><p>The technology-dominated Nasdaq index was dragged down and fell rapidly. Since the beginning of this year, it has erased nearly half of last year's gains.</p><p><b>U.S. stocks closed overnight with an avalanche of technology stocks. The Nasdaq fell for four consecutive days, closing down 385.10 points, or 2.72%, to 13,768.92 points, a record low in seven and a half months. It was also the first time since June 9 last year that it closed below 14,000 points.</b></p><p><img src=\"https://static.tigerbbs.com/2a7dd3c2c71a433b4efcf893ed952dd7\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>On Thursday, the Senate Judiciary Committee voted to advance the \"American Innovation and Choice Online Act.\" The market was worried that the introduction of a blockbuster antitrust bill might deal a heavy blow to technology giants. The Nasdaq closed down more than 1%. Previously, the Nasdaq had fallen by more than 1% for two consecutive days.</p><p>Since entering 2022, the Nasdaq's painting style has suddenly changed, and it has begun to accelerate its decline, falling 7.6% throughout the week, the worst weekly performance since October 2020.</p><p>At present, it has fallen by more than 14% from the historical closing high in mid-November last year, and it is deeply trapped in the technical level correction range.</p><p>Bloomberg called it \"unusual\" for the Nasdaq to fall like this.<b>Analysts generally believe that when the index falls by more than 10% from its high point, the index enters the \"adjustment range\".</b></p><p><img src=\"https://static.tigerbbs.com/98c558a159e7017964d311f1b8b063ee\" tg-width=\"670\" tg-height=\"404\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Why are U.S. stocks volatile?</p><p>The analysis pointed out that U.S. bond yields rose sharply this week, and rising interest rates continued to exert downward pressure on technology stocks and high-growth stocks by reducing the attractiveness of future corporate profits, which in turn put downward pressure on the trend of the Nasdaq.</p><p>It is worth mentioning that starting this week, Netflix kicked off the earnings season of large technology stocks, but Netflix's earnings report \"got off to a bad start\", dragging down the trend of the Nasdaq<b>。</b></p><p>In addition, investors are turning to the Federal Reserve's January FOMC policy meeting to be held next week. The market is mainly worried about the Federal Reserve's aggressive rate hike to curb inflation, and it is expected that it may aggressively rate hike, shrinking balance sheet, and increase borrowing costs this year.</p><p>Add to that geopolitical tensions between Russia and NATO around Ukraine.</p><p><b>Under multiple concerns, market sentiment and risk appetite have been suppressed, and risky assets have generally fallen.</b></p><p>Wall Street warned that the \"bubble\" is about to burst. On the one hand, economic growth is slowing down, and on the other hand, policy tightening is accelerating. 2022 will not be a smooth year for U.S. stocks.</p><p>Jim Paulsen, chief investment strategist of Leuthold Group, an investment institution, believes that the stock market sentiment has been sluggish in the past few days, and the driving role of fundamentals has been suspended. Market actions entirely depend on technical support levels. Before the plunge stops, bond market yields, economic data and even financial reports, etc. Fundamental factors may not have much impact.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3650405\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8d7665b640c6daf26b451cc5367e24e1","relate_stocks":{"NFLX":"奈飞"},"source_url":"https://wallstreetcn.com/articles/3650405","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1182083319","content_text":"由于市场对美联储加息预期提前，美股受其影响下挫，尤其高估值科技股的跌幅更是首当其冲。以科技股为主的纳斯达克指数受到拖累迅速下挫，今年开年以来已抹掉去年全年涨幅的近一半。隔夜美股收盘，科技股雪崩，纳指连跌四日，收跌385.10点，跌幅2.72%，报13768.92点，创七个半月来新低记录，也是自从去年6月9日以来首次收盘失守14000点。周四，参议院司法委员会投票通过推进“美国创新与选择在线法案”，市场担忧重磅反垄断议案的出台可能会对科技巨头造成重磅打击，纳指收跌超1%。此前纳指已连续两日跌超1%。自从进入2022年以来，纳指画风突变，开始加速下跌，全周累跌7.6%，创2020年10月来最差单周表现。目前已较去年11月中旬的历史收盘高点跌超14%，深陷技术位回调区间。彭博社称纳指这么跌是“不寻常”的。分析人士通常认为，当指数从高点下挫超10%时，该指数就进入了“调整区间”。美股为何震荡不安？分析指出，本周美债收益率大幅上行，利率上升通过降低了企业未来利润的吸引力，继续对科技股和高成长股施加下行压力，继而对纳指的走势形成下行压力。值得一提的是，本周开始，奈飞拉开了大型科技股财报季的序幕，但是奈飞财报“出师不利”，拖累了纳指走势。此外，投资者转向关注下周召开的美联储1月FOMC政策会议，市场主要担心美联储激进加息来遏制通胀，并预计其今年可能会大举加息、缩表、提高借贷成本。再加上俄罗斯和北约围绕乌克兰的地缘政治局势紧张。多重担忧之下，打压了市场情绪和风险偏好，风险资产普遍回落。华尔街警告“泡沫”即将破裂，一边是经济增长放缓，一边是加速收紧政策，2022年对于美股将不会是顺利的一年。投资机构Leuthold Group首席投资策略师Jim Paulsen认为，过去几天股市情绪低迷，基本面的驱动作用已经暂停，市场行动完全取决于技术支撑位，在暴跌停止前，债市收益率、经济数据甚至财报等基本面要素可能不会产生太大影响。","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":2903,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007007202,"gmtCreate":1642718395236,"gmtModify":1676533738183,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"Aah","listText":"Aah","text":"Aah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007007202","repostId":"1140143929","repostType":4,"repost":{"id":"1140143929","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1642691551,"share":"https://ttm.financial/m/news/1140143929?lang=en_US&edition=fundamental","pubTime":"2022-01-20 23:12","market":"us","language":"zh","title":"The financial world will delist from Nasdaq on January 21","url":"https://stock-news.laohu8.com/highlight/detail?id=1140143929","media":"老虎资讯综合","summary":"公司在2021年5月被告知，不符合上市规则第5450条(b)(1)(A)的股东权益要求。","content":"<p><html><head></head><body>News on January 20,<a href=\"https://laohu8.com/S/JRJC\">The financial world</a>Announces receipt of notification from the Nasdaq Hearing Panel that it has decided to delist the Company's American Depositary Shares from Nasdaq by filing Form 25 (Notice of Delisting) with the Securities and Exchange Commission upon the end of the applicable appeal period and will suspend trading in the Company's American Depositary Shares from the market opening on January 21, 2022.</p><p>As previously announced, the Company was notified in May 2021 that the shareholder's interest requirement under Rule 5450 (b) (1) (A) of the Listing Rules was not met and the delisting notice was received in August 2021. Following the hearing held in September 2021, the panel agreed that the Company gradually release the Nasdaq Capital Markets request, which will be extended until January 14, 2022, for evidence of compliance with the minimum shareholder equity requirement of $2.5 million, or alternative compliance standards set forth in Nasdaq Listing Rule 5550 (b) (1).</p><p><img src=\"https://static.tigerbbs.com/4197b1b964cc12172e5e12b8ecb8f744\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The financial world will delist from Nasdaq on January 21</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe financial world will delist from Nasdaq on January 21\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-01-20 23:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>News on January 20,<a href=\"https://laohu8.com/S/JRJC\">The financial world</a>Announces receipt of notification from the Nasdaq Hearing Panel that it has decided to delist the Company's American Depositary Shares from Nasdaq by filing Form 25 (Notice of Delisting) with the Securities and Exchange Commission upon the end of the applicable appeal period and will suspend trading in the Company's American Depositary Shares from the market opening on January 21, 2022.</p><p>As previously announced, the Company was notified in May 2021 that the shareholder's interest requirement under Rule 5450 (b) (1) (A) of the Listing Rules was not met and the delisting notice was received in August 2021. Following the hearing held in September 2021, the panel agreed that the Company gradually release the Nasdaq Capital Markets request, which will be extended until January 14, 2022, for evidence of compliance with the minimum shareholder equity requirement of $2.5 million, or alternative compliance standards set forth in Nasdaq Listing Rule 5550 (b) (1).</p><p><img src=\"https://static.tigerbbs.com/4197b1b964cc12172e5e12b8ecb8f744\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5dbf3676ecdb49202a138cc71b154c5a","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140143929","content_text":"1月20日消息，金融界宣布收到纳斯达克听证会小组通知，其已决定在适用的上诉期结束后，通过向证券交易委员会提交表格25（退市通知）将本公司的美国存托股从纳斯达克退市，并将于2022年1月21日开市起暂停本公司的美国存托股票交易。如之前所宣布的，本公司在2021年5月被告知，不符合上市规则第5450条(b)(1)(A)的股东权益要求，并于2021年8月收到退市通知。在2021年9月举行的听证会之后，专家组同意本公司逐步下达纳斯达克资本市场的要求，并将延长至2022年1月14日，以证明符合最低250万美元股东权益要求的证据，或纳斯达克上市规则5550(b)(1)中规定的替代合规标准。","news_type":1,"symbols_score_info":{"JRJC":0.9}},"isVote":1,"tweetType":1,"viewCount":2538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005726497,"gmtCreate":1642420735890,"gmtModify":1676533709286,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"G","listText":"G","text":"G","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005726497","repostId":"1126336580","repostType":4,"repost":{"id":"1126336580","kind":"news","pubTimestamp":1642419985,"share":"https://ttm.financial/m/news/1126336580?lang=en_US&edition=fundamental","pubTime":"2022-01-17 19:46","market":"us","language":"zh","title":"Last year, they laughed at American retail investors for \"stupid people and more money\", but now institutions regard visiting forums as a compulsory course","url":"https://stock-news.laohu8.com/highlight/detail?id=1126336580","media":"华尔街见闻","summary":"大约85%的对冲基金和42%的资管经理现在都在跟踪散户交易的留言板。","content":"<p><html><head></head><body>Author: Wang Mei</p><p>Last year, there was a \"war\" in the U.S. securities market in which retail investors \"grouped together\" to squeeze short institutions, which not only subverted the market, but also changed the investment pattern to a great extent-</p><p>Fund managers who once laughed at retail investors in U.S. stocks as \"fool's money\" are looking for clues in social networking posts on where retail investors may turn next.</p><p><b>According to a Bloomberg survey, about 85% of hedge funds and 42% of asset management managers are now tracking message boards for retail trading.</b></p><p>JPMorgan Chase launched a new data product in September last year, which includes information on which stocks individual investors are likely to be buying and selling, as well as which sectors and stocks are being discussed on social forums. The bank said that about 50 customers are testing the product, including some of the largest asset management and quantitative fund managers. JPMorgan equity traders are also using the data product to help manage their own risks.</p><p>The Wall Street Journal quoted Chris Berthe, global co-head of cash equity trading at JPMorgan, as saying:</p><p>\"If you are a professional investor, you can't ignore the flow of money from retail investors. This is a whole new class of investors, and this investor class is actually grasping the right investment themes.\" Professional investors are beginning to avoid large shorting</p><p>At the beginning of last year, no one expected that the madness of retail investors would make the big short Citron surrender.</p><p>The story began on January 19 last year, when Citron, a Wall Street short seller, released a message saying that the stock price of GameStop was only worth $20, claiming that those who bought the company's stock at that time were \"fools.\" Founded in 1984, GameStop is a chain game sales enterprise in the United States, specializing in video games and consumer electronics products. It has more than 6,000 retail stores in the United States, Canada, Europe, Australia and New Zealand. The company's stock price has been lackluster until 2020, but since January 13, 2020, the company's stock price has rapidly risen by nearly 50% to close to $40. After Citron Company released the news of short selling, it was unexpectedly attacked by retail investors on the popular \"investment\" section \"WSB\" of reddit website. Under the call of retail investor \"opinion leader\" Keith Gill, only 10% of the retail investors in the US stock market were unprecedentedly united, \"holding a group\" to do more game stations, setting off an unprecedented long-short war. The stock price of game stations also soared from $39.12 on January 20 last year to $347.51 on January 27. Under the crazy purchases of retail investors and other investors, the market value of GameStop has also soared from US $2 billion to more than US $24 billion, and the stock price has risen by 1,700% in less than a year. Finally, Citron Company surrendered. On January 29th, it stated on the social platform that the company would stop publishing short-selling reports, terminate this 20-year-old business, and focus on long-term investment opportunities in the future to explore potential stock opportunities for retail investors. At the same time, Melvin Capital, a Wall Street tens of billions star fund, also announced the liquidation of its short position in GameStop. The long-short war between Wall Street giants and American retail investors has temporarily come to an end. According to an estimate by an American data company, short-selling institutions lost about $19 billion in this showdown. In fact, GameStop is just a microcosm of the growing influence of retail investors in the US stock market.</p><p>At the end of last year, after the outbreak of the Omicron virus, U.S. stocks fluctuated sharply for many days, and hedge funds sold quickly at the end of the year. However, U.S. retail investors vigorously bargain-hunting to \"protect the market\" and frantically bought stocks sold by Wall Street on dips, reproducing the market memory at the beginning of the year.</p><p>According to the Wall Street Journal,<b>U.S. retail investors have changed the trading strategy of some professional investors, especially when shorting a stock.</b></p><p>An analysis report by technology and data analytics firm S3 Partners shows that investors are avoiding taking too much risk when it comes to shorting these days.</p><p>S3 Partners closely tracks the activity of short sellers, and according to its head of predictive analytics Ihor Dusaniwsky's analysis of stocks with at least $10 million of shares being sold short,<b>By the end of 2021, only seven stocks in the U.S. market had a total short-sold stake of 40% or more. This is down from 40 at the beginning of January 2020 and 19 in January 2021.</b></p><p>Different from the past, in his analysis,<b>No stock ended 2021 with 70% or more of a short sale share.</b></p><p>Last year, S3 began offering new tools that tell clients which stocks have high short positions and which stocks may suddenly turn a loss when retail investors rush in.</p><p>Dusaniwsky said:</p><p>\"Every hedge fund manager is thinking, 'I don't want to be on the wrong side of the Meme stock game,' and making sure not to get hit by a bus is a full-time job.\" Social forums are increasingly being used for trading</p><p>Millions of Americans shunned active investing for much of the last 10 years, and in 2020 they became day traders due to social isolation amid the pandemic. Driven by volatile markets and mobile apps that can freely trade stocks, they flock to social networking sites for investment ideas.</p><p>Wall Street News previously mentioned that U.S. institutions generally trade through exchanges such as the New York Stock Exchange and Nasdaq, while retail investors use brokerage apps such as Robinhood to trade outside the exchanges. As brokers turn to commission-free trading and more retail investors join U.S. stocks, the impact of retail investors on trading volume can be compared with the trading volume of places such as the New York Stock Exchange and Nasdaq with apps outside the exchange. Bloomberg data in early January last year showed that the latter traded more than the former for the first time since 2008.</p><p>JPMorgan estimates that,<b>In the past 18 months, retail investors in U.S. stocks have repeatedly accounted for more than one-third of daily trading activity, reaching nearly 40% on peak days.</b></p><p>Their aggressive purchases of shares such as Hertz Global Holdings Inc. eventually paid off when the car rental company exited bankruptcy protection. At the time, Devin Ryan, head of financial technology research at JMP Securities (JPMorgan Securities), expected<b>More than 10 million retail investors will open new stockbrokerage accounts in 2020.</b></p><p>In 2021, this trend accelerated. JMP Securities Estimated,<b>Another 15 million Americans signed up for stockbrokerage accounts in 2021. Social forums are increasingly being used for trading.</b>Some retail investors took advantage of the growth in numbers to push stocks including GameStop and AMC Cinemas higher. Many retail investors are happy to let some hedge funds suffer huge losses and prove that traditional strategies are not the only way to win.</p><p>In 2021, investments that seemed worthless on the books became valuable because retail investors declared them valuable. Data shows that funny cryptocurrencies like Dogecoin have skyrocketed by more than 1,900% in the past year. The NFT market, which is the market for digital images of items like bored ape avatars, has exploded.</p><p>So far, retail investors are still fighting</p><p>A year ago, market observers questioned whether \"retail grouping\" would continue. Now, many people are asking what will happen this year.</p><p>Tony Pasquariello, head of global hedge funds at Goldman Sachs, previously wrote in his 2022 outlook:</p><p>U.S. retail investors stole the show in 2021, and as inflows into U.S. stocks exceeded the previous 25 years combined, the extent to which this group is still fighting will be a major unresolved question in early 2022. Overall, one of the biggest unknowns of 2022 is simple: Where will the money go? According to data from VandaTrack, a subsidiary of research firm Vanda Research,<b>U.S. retail investors bought a net $292 billion in U.S. stocks and ETFs in 2021, which is more than seven times that of 2019.</b>So far,<b>Retail investors appear poised to continue with similar levels of buying activity in 2022.</b></p><p>Analysts expect U.S. stocks to have a bumpier year, with some fund managers believing retail investors could be squeezed out of the market if market volatility continues. Many say trading activity now resembles the late 1990s, when retail investors flocked to the stock market but fled when the dot-com bubble burst.</p><p>So far, retail investors have shown a strong tolerance for volatile markets. VandaTrack data shows that,<b>Last year, the group's eight most buying sessions in dollar terms occurred when the S&P 500 index fell 1.3% or more.</b>Several academic papers have found that retail investors sometimes help stabilize markets, providing liquidity during market volatility.</p><p></body></html></p>","source":"highlight_wallstreetcn","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>Last year, they laughed at American retail investors for \"stupid people and more money\", but now institutions regard visiting forums as a compulsory course</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast year, they laughed at American retail investors for \"stupid people and more money\", but now institutions regard visiting forums as a compulsory course\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-01-17 19:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Wang Mei</p><p>Last year, there was a \"war\" in the U.S. securities market in which retail investors \"grouped together\" to squeeze short institutions, which not only subverted the market, but also changed the investment pattern to a great extent-</p><p>Fund managers who once laughed at retail investors in U.S. stocks as \"fool's money\" are looking for clues in social networking posts on where retail investors may turn next.</p><p><b>According to a Bloomberg survey, about 85% of hedge funds and 42% of asset management managers are now tracking message boards for retail trading.</b></p><p>JPMorgan Chase launched a new data product in September last year, which includes information on which stocks individual investors are likely to be buying and selling, as well as which sectors and stocks are being discussed on social forums. The bank said that about 50 customers are testing the product, including some of the largest asset management and quantitative fund managers. JPMorgan equity traders are also using the data product to help manage their own risks.</p><p>The Wall Street Journal quoted Chris Berthe, global co-head of cash equity trading at JPMorgan, as saying:</p><p>\"If you are a professional investor, you can't ignore the flow of money from retail investors. This is a whole new class of investors, and this investor class is actually grasping the right investment themes.\" Professional investors are beginning to avoid large shorting</p><p>At the beginning of last year, no one expected that the madness of retail investors would make the big short Citron surrender.</p><p>The story began on January 19 last year, when Citron, a Wall Street short seller, released a message saying that the stock price of GameStop was only worth $20, claiming that those who bought the company's stock at that time were \"fools.\" Founded in 1984, GameStop is a chain game sales enterprise in the United States, specializing in video games and consumer electronics products. It has more than 6,000 retail stores in the United States, Canada, Europe, Australia and New Zealand. The company's stock price has been lackluster until 2020, but since January 13, 2020, the company's stock price has rapidly risen by nearly 50% to close to $40. After Citron Company released the news of short selling, it was unexpectedly attacked by retail investors on the popular \"investment\" section \"WSB\" of reddit website. Under the call of retail investor \"opinion leader\" Keith Gill, only 10% of the retail investors in the US stock market were unprecedentedly united, \"holding a group\" to do more game stations, setting off an unprecedented long-short war. The stock price of game stations also soared from $39.12 on January 20 last year to $347.51 on January 27. Under the crazy purchases of retail investors and other investors, the market value of GameStop has also soared from US $2 billion to more than US $24 billion, and the stock price has risen by 1,700% in less than a year. Finally, Citron Company surrendered. On January 29th, it stated on the social platform that the company would stop publishing short-selling reports, terminate this 20-year-old business, and focus on long-term investment opportunities in the future to explore potential stock opportunities for retail investors. At the same time, Melvin Capital, a Wall Street tens of billions star fund, also announced the liquidation of its short position in GameStop. The long-short war between Wall Street giants and American retail investors has temporarily come to an end. According to an estimate by an American data company, short-selling institutions lost about $19 billion in this showdown. In fact, GameStop is just a microcosm of the growing influence of retail investors in the US stock market.</p><p>At the end of last year, after the outbreak of the Omicron virus, U.S. stocks fluctuated sharply for many days, and hedge funds sold quickly at the end of the year. However, U.S. retail investors vigorously bargain-hunting to \"protect the market\" and frantically bought stocks sold by Wall Street on dips, reproducing the market memory at the beginning of the year.</p><p>According to the Wall Street Journal,<b>U.S. retail investors have changed the trading strategy of some professional investors, especially when shorting a stock.</b></p><p>An analysis report by technology and data analytics firm S3 Partners shows that investors are avoiding taking too much risk when it comes to shorting these days.</p><p>S3 Partners closely tracks the activity of short sellers, and according to its head of predictive analytics Ihor Dusaniwsky's analysis of stocks with at least $10 million of shares being sold short,<b>By the end of 2021, only seven stocks in the U.S. market had a total short-sold stake of 40% or more. This is down from 40 at the beginning of January 2020 and 19 in January 2021.</b></p><p>Different from the past, in his analysis,<b>No stock ended 2021 with 70% or more of a short sale share.</b></p><p>Last year, S3 began offering new tools that tell clients which stocks have high short positions and which stocks may suddenly turn a loss when retail investors rush in.</p><p>Dusaniwsky said:</p><p>\"Every hedge fund manager is thinking, 'I don't want to be on the wrong side of the Meme stock game,' and making sure not to get hit by a bus is a full-time job.\" Social forums are increasingly being used for trading</p><p>Millions of Americans shunned active investing for much of the last 10 years, and in 2020 they became day traders due to social isolation amid the pandemic. Driven by volatile markets and mobile apps that can freely trade stocks, they flock to social networking sites for investment ideas.</p><p>Wall Street News previously mentioned that U.S. institutions generally trade through exchanges such as the New York Stock Exchange and Nasdaq, while retail investors use brokerage apps such as Robinhood to trade outside the exchanges. As brokers turn to commission-free trading and more retail investors join U.S. stocks, the impact of retail investors on trading volume can be compared with the trading volume of places such as the New York Stock Exchange and Nasdaq with apps outside the exchange. Bloomberg data in early January last year showed that the latter traded more than the former for the first time since 2008.</p><p>JPMorgan estimates that,<b>In the past 18 months, retail investors in U.S. stocks have repeatedly accounted for more than one-third of daily trading activity, reaching nearly 40% on peak days.</b></p><p>Their aggressive purchases of shares such as Hertz Global Holdings Inc. eventually paid off when the car rental company exited bankruptcy protection. At the time, Devin Ryan, head of financial technology research at JMP Securities (JPMorgan Securities), expected<b>More than 10 million retail investors will open new stockbrokerage accounts in 2020.</b></p><p>In 2021, this trend accelerated. JMP Securities Estimated,<b>Another 15 million Americans signed up for stockbrokerage accounts in 2021. Social forums are increasingly being used for trading.</b>Some retail investors took advantage of the growth in numbers to push stocks including GameStop and AMC Cinemas higher. Many retail investors are happy to let some hedge funds suffer huge losses and prove that traditional strategies are not the only way to win.</p><p>In 2021, investments that seemed worthless on the books became valuable because retail investors declared them valuable. Data shows that funny cryptocurrencies like Dogecoin have skyrocketed by more than 1,900% in the past year. The NFT market, which is the market for digital images of items like bored ape avatars, has exploded.</p><p>So far, retail investors are still fighting</p><p>A year ago, market observers questioned whether \"retail grouping\" would continue. Now, many people are asking what will happen this year.</p><p>Tony Pasquariello, head of global hedge funds at Goldman Sachs, previously wrote in his 2022 outlook:</p><p>U.S. retail investors stole the show in 2021, and as inflows into U.S. stocks exceeded the previous 25 years combined, the extent to which this group is still fighting will be a major unresolved question in early 2022. Overall, one of the biggest unknowns of 2022 is simple: Where will the money go? According to data from VandaTrack, a subsidiary of research firm Vanda Research,<b>U.S. retail investors bought a net $292 billion in U.S. stocks and ETFs in 2021, which is more than seven times that of 2019.</b>So far,<b>Retail investors appear poised to continue with similar levels of buying activity in 2022.</b></p><p>Analysts expect U.S. stocks to have a bumpier year, with some fund managers believing retail investors could be squeezed out of the market if market volatility continues. Many say trading activity now resembles the late 1990s, when retail investors flocked to the stock market but fled when the dot-com bubble burst.</p><p>So far, retail investors have shown a strong tolerance for volatile markets. VandaTrack data shows that,<b>Last year, the group's eight most buying sessions in dollar terms occurred when the S&P 500 index fell 1.3% or more.</b>Several academic papers have found that retail investors sometimes help stabilize markets, providing liquidity during market volatility.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3649909\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5af71bbd6192d9b63a935f2f641c8aa5","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3649909","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1126336580","content_text":"作者：王眉去年美国证券市场一场散户“抱团”逼空机构的“大战”，不仅颠覆了市场，也在很大程度上改变了投资格局——曾经嘲笑美股散户为“傻瓜钱”的基金经理们，正在社交网站帖子中寻找散户们下一步可能转向何处的线索。根据彭博的一项调查，大约85%的对冲基金和42%的资管经理现在都在跟踪散户交易的留言板。摩根大通在去年9月推出了一款新的数据产品，其中包括个人投资者可能在买卖哪些股票，以及社交论坛上正在讨论哪些行业和股票的信息。该行表示，约有50家客户正在测试这款产品，其中包括一些规模最大的资管和量化基金经理。摩根大通的股票交易员也在使用该数据产品来帮助管理自己的风险。华尔街日报援引摩根大通现金股票交易全球联席主管Chris Berthe表示：“如果你是一名专业投资者，就不能忽视来自散户的资金流。这是一个全新的投资者阶层，且这个投资者阶层实际上正在把握正确的投资主题。”专业投资者开始避免大规模做空去年初，谁也没想到，散户抱团的疯狂程度竟让大空头香橼都缴械投降。故事始于去年1月19日，当时华尔街空头机构香橼公司发布了一条消息，称游戏驿站公司（GameStop）的股价只值20美元，宣称当时买入该公司股票的都是“傻瓜”。游戏驿站成立于1984年，是美国的一家连锁游戏销售企业，专营电子游戏及消费性电子产品，旗下超过6000家零售店，遍布美国、加拿大、欧洲、澳大利亚和新西兰。这家公司的股价2020年前表现一直乏善可陈，但是从2020年1月13日开始，该公司股价快速上涨了近50%，接近40美元。在香橼公司发布做空消息后，不承想却遭遇了reddit网站高人气“投资”板块“WSB”上的散户们群起而攻，在散户“意见领袖”基思·吉尔的号召下，只占美股10%的散户空前团结，“抱团”做多游戏驿站，掀起史无前例的多空大战，游戏驿站股价也从去年1月20日的39.12美元，暴涨至1月27日的347.51美元。在散户等投资者的疯狂购买下，游戏驿站的市值也从20亿美元暴涨至240多亿美元，股价不到1年就上涨了1700%。终于，香橼公司缴械投降，1月29日其在社交平台上表示，该公司将停止发表做空报告，终止这项从事了20年的业务，今后专注于长线投资机会，为散户投资者发掘潜力股的机遇。与此同时，华尔街百亿明星基金梅尔文资本也宣布平仓游戏驿站的空头头寸，这场华尔街巨头与美国散户的多空大战暂告一段落。据一家美国数据公司估计，做空机构在此次对决中，损失约190亿美元。而事实上，游戏驿站只是美股市场上散户影响力日趋变大的一个缩影。去年底，在奥密克戎病毒爆出后，美股多日大幅震荡，对冲基金在年底快速卖出，但美股散户却大力抄底“护盘”，疯狂逢低买入华尔街抛售的股票，再现年初的市场记忆。据华尔街日报，美国散户投资者已经改变了一些专业投资者的交易策略，特别是在做空某只股票时。技术和数据分析公司S3 Partners的一份分析报告显示，如今投资者在做空方面都避免冒太大风险。S3 Partners密切跟踪卖空者的活动，根据其预测分析主管Ihor Dusaniwsky对至少有1000万美元股票被卖空的股票的分析，到2021年底，美国市场上只有7只股票的卖空股份总额达到或超过40%。这低于2020年1月初的40只和2021年1月的19只。与以往不同的是，在他的分析中，没有一只股票在2021年底有70%或以上的卖空份额。去年，S3 开始提供新工具，告诉客户哪些股票的空头头寸很高，以及哪些股票可能在散户投资者涌入时突然出现亏损。Dusaniwsky表示：“每个对冲基金经理都在想，‘我不想在Meme股票游戏中站在错误的一方’，确保不被公共汽车撞到是一份全职工作。”社交论坛越来越多地用于交易在过去10年的大部分时间里，数百万美国人回避积极投资，2020年由于疫情社交隔离，他们成为了日内交易者。在动荡的市场和可以自由交易股票的手机应用程序的带动下，他们蜂拥至社交网站上寻求投资点子。华尔街见闻此前提及，美国机构一般会通过纽交所以及纳斯达克等交易所进行交易，而散户则在交易所之外利用Robinhood等券商App进行交易。随着经纪商转向免佣金交易，更多散户投身美股，散户对交易量的影响，可以将纽交所和纳斯达克等地的交易量与交易所之外的App等进行比较。去年1月初的彭博数据显示，后者的交易量自2008年以来首次超过前者。摩根大通估计，在过去18个月中，美股散户投资者多次占每日交易活动的三分之一以上，峰值日达到近40%。他们大举买入赫兹租车公司(Hertz Global Holdings Inc.)等股票，最终在这家汽车租赁公司退出破产保护时获得了回报。当时，JMP Securities（摩根大通证券）金融技术研究主管Devin Ryan预计2020年将有超过1000万散户投资者开设新的股票经纪账户。2021年，这种趋势加速。JMP Securities 估计，2021年又有1500万美国人注册了股票经纪账户。社交论坛越来越多地用于交易。一些散户投资者利用人数增长的机会，将包括游戏驿站和AMC电影院在内的股票推高。许多散户乐于让一些对冲基金蒙受巨大损失，并证明传统的策略并不是唯一的获胜方式。在2021年，账面上看起来没有价值的投资变得有价值，因为散户们宣布它们有价值。有数据显示，像狗狗币这样的搞笑加密货币在过去一年中暴涨了1900%以上。NFT市场，即无聊猿化身等物品的数字图像市场，出现了爆炸式增长。目前为止，散户仍在战斗一年前，市场观察人士质疑“散户抱团”是否会继续，现在，许多人都在问，今年的情况会如何。高盛全球对冲基金主管帕斯夸里洛（Tony Pasquariello ）此前在2022年展望中写道：美国散户投资者在2021年抢尽了风头，由于这一年美股的资金流入超过了此前25年的总和，这群人在多大程度上仍在战斗，将是2022年初的一个主要未决问题。总的来说，2022年最大的未知数之一很简单：资金会去到哪里？根据研究机构Vanda Research旗下VandaTrack的数据，2021年美国散户净购买了 2920亿美元的美国股票和ETF，这是2019年的七倍多。到目前为止，散户投资者似乎准备在2022年继续保持类似水平的购买活动。分析师预计，美国股市今年的走势将更加坎坷，一些基金经理认为，如果市场持续波动，散户投资者可能会被挤出市场。许多人说，现在的交易活动类似于20世纪90年代末，当时散户蜂拥股市，但在互联网泡沫破灭时纷纷逃离。到目前为止，散户对动荡的市场表现出了很强的承受能力。VandaTrack数据显示，去年，该群体以美元计买入最多的八个交易日，发生在标普500指数下跌1.3%或更多时。几篇学术论文发现，散户投资者有时有助于稳定市场，在市场波动时提供流动性。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2744,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005538112,"gmtCreate":1642342992629,"gmtModify":1676533702658,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"G","listText":"G","text":"G","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005538112","repostId":"1105926115","repostType":4,"repost":{"id":"1105926115","kind":"news","weMediaInfo":{"introduction":"解密财经，透视真相。为您传递第一手新鲜财经深度报道。","home_visible":1,"media_name":"棱镜","id":"91","head_image":"https://static.tigerbbs.com/ea46042fac2240098d9d976e6d67d6a8"},"pubTimestamp":1642304577,"share":"https://ttm.financial/m/news/1105926115?lang=en_US&edition=fundamental","pubTime":"2022-01-16 11:42","market":"us","language":"zh","title":"He XPeng: The whole story of \"Dreamer in the Sky\" building cars","url":"https://stock-news.laohu8.com/highlight/detail?id=1105926115","media":"棱镜","summary":"跻身国内顶级企业家群，何小鹏还是没有学会迎合观众期待值去“讲故事”。2021年年底，何小鹏在接受腾讯新闻《财约你》专访时，大多数时间都沉浸在自己所畅想的出行世界中。在专访的最后，《财约你》向他提出了几","content":"<p><html><head></head><body>Being among the top entrepreneurs in China, He XPeng still hasn't learned to \"tell stories\" to cater to the audience's expectations.</p><p>At the end of 2021, He XPeng was accepting<a href=\"https://laohu8.com/S/00700\">Tencent</a>During the exclusive interview with the news \"Wealth About You\", I spent most of my time immersed in the travel world I imagined. At the end of the exclusive interview, \"Cai Yue You\" asked him several quick questions, and he got stuck in the quick answer, even though the questions were relatively relaxed and pleasant.</p><p>\"Join<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Four years, when was your happiest moment? \" \"Wealth appointment with you\" asked.</p><p>\"I can't remember,\" He XPeng replied.</p><p>\"Among the post-80s entrepreneurs, which one do you like best, Wang Xing, Zhang Yiming and Huang Zheng?\" \"Cai Yue You\" asked again.</p><p>\"It's hard to say.\" After thinking for a second, He XPeng still didn't give an answer.</p><p>This is his usual style. On the one hand, XPeng Motors launched a high-profile \"aircraft\" and laid out its products in the air, making the outside world feel that the head of this new car-making force is frivolous and flamboyant; On the other hand, in the four years of building cars, He XPeng has never got rid of the traces of the personality of a product manager. He is introverted and cautious, and those who are uncertain would rather avoid it than talk nonsense.</p><p>2021 is a year for XPeng vehicles to counterattack, with deliveries reaching 98,155 vehicles, surpassing<a href=\"https://laohu8.com/S/NIO\">Nio</a>And ideal, the \"Wei Xiaoli\" pattern of new car-making forces that have been stable for many years has become \"Xiao Weili\".</p><p>However, with the entry of Huawei and Xiaomi and the strong efforts of traditional car companies,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The automobile industry is on the rise again. Who can go more steadily and further in this battlefield? An important factor is the character and pattern of the founder.</p><p>\"Many of the genes of an enterprise come from the genes of the founder. If the founder saves, the enterprise will also save.\" He XPeng said, \"I am from a technical background, pursuing technological innovation and product differences, and I am pragmatic. I hope these can become a symbol, mind and culture, and go global.\"</p><p>Using his own name as a brand makes He XPeng deeply tied to XPeng Automobile, and both glory and humiliation. He XPeng told \"Cai You\" that this represents his attitude and responsibility.</p><p>In August and November 2021, \"Cai Yue You\" had two in-depth conversations with He XPeng in Beijing and Guangzhou, trying to explore his deep personality traits and business logic.</p><p><img src=\"https://static.tigerbbs.com/53642452f6c22de755e1e8657036e330\" tg-width=\"1080\" tg-height=\"718\" referrerpolicy=\"no-referrer\"/></p><p><b>Second-time adventurer</b></p><p>In his bones, XPeng He is a tossing and adventurous person, which is in sharp contrast to his shy appearance and low-key hairstyle.</p><p>He XPeng, who was born in an ordinary family in Huangshi, Hubei Province, had not been out of the province before the college entrance examination and had not eaten<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>Not to mention taking a plane. At that time, he had a belief that it was better to travel thousands of miles than to read thousands of books. When filling in his volunteers in the college entrance examination, his only goal was to go to school outside the province, especially in developed cities like Beishangguang, to see the outside world. He was eventually admitted to South China University of Technology in Guangzhou.</p><p>Now, He XPeng has extended this concept to the education of children. As long as their lives and health are not seriously threatened, children can take risks and explore something.</p><p>When one of his sons was two years old, he was particularly naughty, full of curiosity about pressure cookers, and his little hands always wanted to touch them. Generally, parents will stop it immediately, but He XPeng has a different way to deal with it. He grabbed his son's hand and carefully let him touch it. As a result, his son was burned and cried, and he never dared to touch the pressure cooker again.</p><p>These personality traits were also highlighted in his entrepreneurial process.</p><p>In June 2014, UC browser founded by He XPeng was sold at a high price of US $4 billion<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The acquisition brought him huge wealth. US $4 billion was also the highest merger and acquisition price of China's Internet at that time.</p><p>Subsequently, He XPeng joined Ali and successively served as the president of Ali Mobile Business Group, the chairman of Ali Games, and the president of Tudou. Many people think that He XPeng will be a rich man with peace of mind, and there will be no such product manager in the entrepreneurial world. But in the year of \"cashing out\", He XPeng began to plan to re-start new energy vehicles, and invested in XPeng vehicles, which were also called \"Orange Travel Zhidong\" at that time.</p><p>\"When I first saw smart electric vehicles, I immediately thought of the jump from the Symbian era or JAVA era to the smart era.\" He XPeng said.</p><p>The UC browser founded by He XPeng spans the two eras of Symbian and Intelligence. This experience makes him naturally sensitive to the new changes in the traditional industry of automobiles. He felt that when this jump just happened, people in the industry were often reluctant to believe this change because they were vested interests.</p><p>It was also during the sleeping period of this kind of industry that he felt that he had a chance to tear a hole.</p><p>\"People from the Internet industry are particularly daring to think, which is a characteristic of our long-term work.\" He XPeng said.</p><p>In 2015, He XPeng went to an auto show. At that time, what left a deep impression on him was that 75 new cars were released in one day at that auto show, which made him deeply feel that the cruelty of competition in the automobile industry is far greater than that in the Internet industry.</p><p>\"Imagine, if the Internet industry releases 75 UC browsers a day, will there be pressure? The competition of automobiles is global competition, technological competition, brand and word-of-mouth competition.\" He XPeng said.</p><p>This makes He XPeng, who is born to love adventure, more determined to \"go into the water\".</p><p><b>\"Talk to people with your head up\"</b></p><p>At that time, the success of UC browser, why did XPeng accumulate a lot of contacts and wealth, and when he decided to devote himself to smart cars, how to divert these resources to new projects and convince the old guys that he could still bear hardships and start a business was an urgent problem for He XPeng to solve. His answer is, first all in himself.</p><p>\"My friends say that if you dare to all in, then we can support you,\" He XPeng said. \"If I didn't go all out, work nine to five every day, and spend my money on financial management, how can others believe me?\"</p><p>After joining the entrepreneurship of smart cars, learning from traditional cars has become an important job for him. He often tells colleagues and friends about a mistake that ordinary people tend to make: using limited information and correct logic, drawing wrong conclusions. The reason for this is that the information obtained is incomplete, which he thinks is a very terrible thing.</p><p>\"In the old field, you may already be a doctoral student, but in the new field, you are still in kindergarten. Would you like to squat down and talk to others with your head tilted up?\" XPeng He said.</p><p>He XPeng has always looked up at the automobile industry. He believes that mobile phones are already a great combination of software and hardware, but a four-or five-meter-long car is a more complex combination of software and hardware with larger imagination space.</p><p>When he decided to devote himself wholeheartedly to XPeng Motors, his early partner, Yu Yongfu, the current CEO of Alibaba Local Life, and chairman of AutoNavi Group, once gave him a suggestion, and it was the only suggestion-let him find someone who can check and balance his own people. Because He XPeng has too many ideas, but not all of them are correct.</p><p>Nowadays, there are many people in XPeng Motors' top management who can check and balance him, and their management structure has also attracted much attention from the outside world. In an exclusive interview with \"Caiyue You\", He XPeng also talked about the checks and balances and cooperation of management for the first time.</p><p>At present, there are four people standing at the top of XPeng's automobile power: He XPeng, Xia Heng, Gu Hongdi, and He Tao. He XPeng is from the Internet industry, Xia Heng and He Tao are from the automotive technology field, and Gu Hongdi is from the financial field. All four of them are very young. He XPeng and Gu Hongdi are born in the 1970s, while Xia Heng and He Tao are born in the 1980s.</p><p>He XPeng bluntly said that in the first year and a half of their cooperation, there were many challenges. Facing the same thing, the four people had different strategies and solutions because they came from different fields.</p><p>For example, at that time, someone suggested setting up a forum within the company to allow employees to post and make suggestions at will. This is a common thing in Internet companies, and He XPeng thought it was enough to do it.</p><p>But this is a \"shouldn't\" thing in the automobile industry. Unlike Internet companies, car companies have a large number of partners and suppliers, and there are many types of jobs. The sharp questions raised by the employees on the forum not only fail to promote the solution of the problem, but sometimes lead to misunderstanding because the information sources are too diverse, which makes the solution of the problem stagnate.</p><p>As a result, the four had a heated argument over this matter. Since then, they have adjusted the forum to solve some important and intense issues through other channels, instead of letting ten or twenty thousand people have invalid discussions in the forum.</p><p>\"Many times, the founders of enterprises are too familiar with an industry, or the perspective is too unified. Right is the same right, and wrong may be the same wrong.\" He XPeng said. \"Balance can make enterprises reach an organic and compromising point.\"</p><p><b>Say no to \"involution\"</b></p><p>2020 is the peak period of He XPeng's second venture. In August of this year, XPeng Motor landed on the New York Stock Exchange, with a market value of US $14.9 billion that day. This is a highlight moment that he couldn't match when he founded UC Browser.</p><p>Today, the stock price of XPeng Motor has tripled, and He XPeng's net worth has risen. According to real-time data from Forbes, he is now worth US $8 billion, surpassing Nio Motor Li Bin's US $4.8 billion, becoming the richest man of the new Chinese car-making force.</p><p><img src=\"https://static.tigerbbs.com/7d75beebe9dfbb968a731155d3840ae8\" tg-width=\"877\" tg-height=\"1904\" referrerpolicy=\"no-referrer\"/></p><p>However, after its listing, the pace of XPeng Motors has not slowed down. The release of P7 and P5 allowed them to own family cars and coupes in the price range of 200,000-400,000, while the appearance of G9 at last year's guangzhou auto show completed the gap of medium and large SUV models. They have also taken an important step in internationalization, taking Norway as the bridgehead and opening up the European market; Aerial vehicles were also developed to prepare for the \"air battle\" a few years later.</p><p>\"For us, listing can get more support from the capital market, which allows us to do some medium and long-term thinking.\" He XPeng said.</p><p>He XPeng is a long-termist. When he explained the name \"XPeng\" to \"Cai Yue You\", he said that \"small\" represents an initial intention and always young. When it comes to enterprise management, he will always remind himself to move forward, without big enterprise diseases and being unable to satisfy the status quo; \"Peng\" is a big bird, which can be turned into \"Kun\" and fly very high and far.</p><p>All along, the outside world has been quite criticizing the name \"XPeng\". Some people think that the name is rather earthy, while others think that it is too arrogant to name vehicles with their own names. After all, world-renowned car companies such as Honda and Mercedes-Benz will use the founder's name. He XPeng laughed to \"Wealth About You\": \"You will feel dirty when you read the first 100 times, but you won't read the 101st time.\"</p><p>He XPeng also has an expectation that in another 10 or 20 years, brands named after Chinese names will go global.</p><p>He XPeng has always been full of respect for Toyota, because they have trained a large number of engineers who can work in Toyota all their lives. This is particularly precious among today's Chinese start-ups. In an exclusive interview with \"Caiyue You\", He XPeng also bluntly stated that he hopes to create a lifelong service environment and mechanism for employees. For this reason, they have formulated a set of option incentive policies, hoping that employees will look further.</p><p>\"In the past 20 or 30 years, Chinese cars have grown a lot, but to be honest, Autobots are very hard. Before the new car-making forces came in, the treatment of Autobots was relatively low.\" He XPeng said.</p><p>At the same time, He XPeng also expects the company to continue to toss and innovate, such as letting employees change to different positions and engage in different jobs, which will give employees more opportunities so that they can work in the company for a long time.</p><p>He XPeng doesn't like the word \"involution\". Previously, the age of 35 was an insurmountable hurdle for many employees of Internet companies, and the news of dismissing employees over the age of 35 frequently caused heated discussions.</p><p>He XPeng said that he welcomed middle and senior talents over 35 years old to XPeng Motors. At present, XPeng also has employees over 60 years old. He believes that the automobile industry needs experienced and technically capable people, and these people are often older.</p><p>\"I don't pay much attention to whether the body is young, we pay attention to whether the mind is young,\" said XPeng He</p><p>Today's XPeng Automobile has gone through seven years. Compared with those well-known century-old car companies, it is still just a boy. However, their employees have exceeded 10,000, and in the next three years, XPeng plans to expand its employee scale to 50,000.</p><p>A question that He XPeng often thinks about is, if he is asked to be a screw, can the company be stronger? He believes that when an enterprise is small, it attaches importance to people. When an enterprise becomes big, it should attach importance to organization and system. Everyone, including him, is a part of the organizational system.</p><p><b>Product Manager Building Car Road</b></p><p>In 2021, the entry of Xiaomi and Huawei will make the smart car track full of unknowns.</p><p>Before Lei Jun decided to make a car, he made a long phone call to He XPeng, and exchanged views on the method of cutting in, capital situation, industry changes, etc.</p><p>He XPeng recognized Lei Jun's thinking and encouraged Lei Jun to build cars together. He believes that for many companies, the window for car manufacturing has been closed, but for companies like Huawei and Xiaomi, the window is still open, mainly because the accumulation of these companies over the years can be quickly converted into value.</p><p>For example, the technological accumulation of these companies can allow them to skip the pure electric vehicle link and directly enter the competition of smart cars. Before producing smart cars, XPeng had explored pure electric vehicles for a long time and gone through detours.</p><p>In He XPeng's consciousness, elitism is a concept that cannot be bypassed. In addition to his high admiration for elite companies such as Xiaomi and Huawei, the concept of product design is also full of elitism.</p><p>Years of product manager career have made him firmly believe that an ultimate product is unlikely to be completed by too many people, because different people will have different demands. If these different demands are finally balanced, then the product will be difficult to achieve the ultimate. The height of a product depends more on the talent height of the product manager.</p><p>He also believes that excellent product ideas come from views on the future, but many product managers will fall into the dilemma of blind people touching elephants and design based on existing consciousness. He believes that excellent product managers should have the ability to think by leaps and bounds.</p><p>In September 2020, the flying car released by XPeng Motors at the Beijing Auto Show was very \"leapfrog\", which once caused ridicule from the outside world-before the competition on the ground was over, they were thinking about \"air combat\".</p><p>At the press conference on November 18, 2021, He XPeng once again publicly announced that he has recruited many talents in the flight industry, clarified the overall framework of mass-produced flying cars in 2024, and hoped to build a flying car in a few years. A great flying car.</p><p>As a matter of fact, He XPeng, who loves to \"fly\", is still on the \"ground\" more often. During the two entrepreneurial processes, he needs to solve various problems.</p><p>Nowadays, \"chip shortage\" is a major problem facing the automobile industry. On November 18, after accepting an exclusive interview with \"Caiyue You\", He XPeng went to a conference about chips.</p><p>In 2021, the delivery volume of XPeng vehicles will surpass that of Nio, and it will monopolize the delivery rankings of new car-making forces. This is partly due to their management of the supply chain, which is less affected by the \"chip shortage\" impact. Nio Motors, on the other hand, was once suspended due to chip problems.</p><p>\"We have discussed it internally many times. In the short term, the problem of chip shortage will be difficult to solve. We expect this problem to be solved in three or four quarters.\" He XPeng said.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>He XPeng: The whole story of \"Dreamer in the Sky\" building cars</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHe XPeng: The whole story of \"Dreamer in the Sky\" building cars\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/91\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/ea46042fac2240098d9d976e6d67d6a8);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">棱镜 </p>\n<p class=\"h-time smaller\">2022-01-16 11:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Being among the top entrepreneurs in China, He XPeng still hasn't learned to \"tell stories\" to cater to the audience's expectations.</p><p>At the end of 2021, He XPeng was accepting<a href=\"https://laohu8.com/S/00700\">Tencent</a>During the exclusive interview with the news \"Wealth About You\", I spent most of my time immersed in the travel world I imagined. At the end of the exclusive interview, \"Cai Yue You\" asked him several quick questions, and he got stuck in the quick answer, even though the questions were relatively relaxed and pleasant.</p><p>\"Join<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Four years, when was your happiest moment? \" \"Wealth appointment with you\" asked.</p><p>\"I can't remember,\" He XPeng replied.</p><p>\"Among the post-80s entrepreneurs, which one do you like best, Wang Xing, Zhang Yiming and Huang Zheng?\" \"Cai Yue You\" asked again.</p><p>\"It's hard to say.\" After thinking for a second, He XPeng still didn't give an answer.</p><p>This is his usual style. On the one hand, XPeng Motors launched a high-profile \"aircraft\" and laid out its products in the air, making the outside world feel that the head of this new car-making force is frivolous and flamboyant; On the other hand, in the four years of building cars, He XPeng has never got rid of the traces of the personality of a product manager. He is introverted and cautious, and those who are uncertain would rather avoid it than talk nonsense.</p><p>2021 is a year for XPeng vehicles to counterattack, with deliveries reaching 98,155 vehicles, surpassing<a href=\"https://laohu8.com/S/NIO\">Nio</a>And ideal, the \"Wei Xiaoli\" pattern of new car-making forces that have been stable for many years has become \"Xiao Weili\".</p><p>However, with the entry of Huawei and Xiaomi and the strong efforts of traditional car companies,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The automobile industry is on the rise again. Who can go more steadily and further in this battlefield? An important factor is the character and pattern of the founder.</p><p>\"Many of the genes of an enterprise come from the genes of the founder. If the founder saves, the enterprise will also save.\" He XPeng said, \"I am from a technical background, pursuing technological innovation and product differences, and I am pragmatic. I hope these can become a symbol, mind and culture, and go global.\"</p><p>Using his own name as a brand makes He XPeng deeply tied to XPeng Automobile, and both glory and humiliation. He XPeng told \"Cai You\" that this represents his attitude and responsibility.</p><p>In August and November 2021, \"Cai Yue You\" had two in-depth conversations with He XPeng in Beijing and Guangzhou, trying to explore his deep personality traits and business logic.</p><p><img src=\"https://static.tigerbbs.com/53642452f6c22de755e1e8657036e330\" tg-width=\"1080\" tg-height=\"718\" referrerpolicy=\"no-referrer\"/></p><p><b>Second-time adventurer</b></p><p>In his bones, XPeng He is a tossing and adventurous person, which is in sharp contrast to his shy appearance and low-key hairstyle.</p><p>He XPeng, who was born in an ordinary family in Huangshi, Hubei Province, had not been out of the province before the college entrance examination and had not eaten<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>Not to mention taking a plane. At that time, he had a belief that it was better to travel thousands of miles than to read thousands of books. When filling in his volunteers in the college entrance examination, his only goal was to go to school outside the province, especially in developed cities like Beishangguang, to see the outside world. He was eventually admitted to South China University of Technology in Guangzhou.</p><p>Now, He XPeng has extended this concept to the education of children. As long as their lives and health are not seriously threatened, children can take risks and explore something.</p><p>When one of his sons was two years old, he was particularly naughty, full of curiosity about pressure cookers, and his little hands always wanted to touch them. Generally, parents will stop it immediately, but He XPeng has a different way to deal with it. He grabbed his son's hand and carefully let him touch it. As a result, his son was burned and cried, and he never dared to touch the pressure cooker again.</p><p>These personality traits were also highlighted in his entrepreneurial process.</p><p>In June 2014, UC browser founded by He XPeng was sold at a high price of US $4 billion<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The acquisition brought him huge wealth. US $4 billion was also the highest merger and acquisition price of China's Internet at that time.</p><p>Subsequently, He XPeng joined Ali and successively served as the president of Ali Mobile Business Group, the chairman of Ali Games, and the president of Tudou. Many people think that He XPeng will be a rich man with peace of mind, and there will be no such product manager in the entrepreneurial world. But in the year of \"cashing out\", He XPeng began to plan to re-start new energy vehicles, and invested in XPeng vehicles, which were also called \"Orange Travel Zhidong\" at that time.</p><p>\"When I first saw smart electric vehicles, I immediately thought of the jump from the Symbian era or JAVA era to the smart era.\" He XPeng said.</p><p>The UC browser founded by He XPeng spans the two eras of Symbian and Intelligence. This experience makes him naturally sensitive to the new changes in the traditional industry of automobiles. He felt that when this jump just happened, people in the industry were often reluctant to believe this change because they were vested interests.</p><p>It was also during the sleeping period of this kind of industry that he felt that he had a chance to tear a hole.</p><p>\"People from the Internet industry are particularly daring to think, which is a characteristic of our long-term work.\" He XPeng said.</p><p>In 2015, He XPeng went to an auto show. At that time, what left a deep impression on him was that 75 new cars were released in one day at that auto show, which made him deeply feel that the cruelty of competition in the automobile industry is far greater than that in the Internet industry.</p><p>\"Imagine, if the Internet industry releases 75 UC browsers a day, will there be pressure? The competition of automobiles is global competition, technological competition, brand and word-of-mouth competition.\" He XPeng said.</p><p>This makes He XPeng, who is born to love adventure, more determined to \"go into the water\".</p><p><b>\"Talk to people with your head up\"</b></p><p>At that time, the success of UC browser, why did XPeng accumulate a lot of contacts and wealth, and when he decided to devote himself to smart cars, how to divert these resources to new projects and convince the old guys that he could still bear hardships and start a business was an urgent problem for He XPeng to solve. His answer is, first all in himself.</p><p>\"My friends say that if you dare to all in, then we can support you,\" He XPeng said. \"If I didn't go all out, work nine to five every day, and spend my money on financial management, how can others believe me?\"</p><p>After joining the entrepreneurship of smart cars, learning from traditional cars has become an important job for him. He often tells colleagues and friends about a mistake that ordinary people tend to make: using limited information and correct logic, drawing wrong conclusions. The reason for this is that the information obtained is incomplete, which he thinks is a very terrible thing.</p><p>\"In the old field, you may already be a doctoral student, but in the new field, you are still in kindergarten. Would you like to squat down and talk to others with your head tilted up?\" XPeng He said.</p><p>He XPeng has always looked up at the automobile industry. He believes that mobile phones are already a great combination of software and hardware, but a four-or five-meter-long car is a more complex combination of software and hardware with larger imagination space.</p><p>When he decided to devote himself wholeheartedly to XPeng Motors, his early partner, Yu Yongfu, the current CEO of Alibaba Local Life, and chairman of AutoNavi Group, once gave him a suggestion, and it was the only suggestion-let him find someone who can check and balance his own people. Because He XPeng has too many ideas, but not all of them are correct.</p><p>Nowadays, there are many people in XPeng Motors' top management who can check and balance him, and their management structure has also attracted much attention from the outside world. In an exclusive interview with \"Caiyue You\", He XPeng also talked about the checks and balances and cooperation of management for the first time.</p><p>At present, there are four people standing at the top of XPeng's automobile power: He XPeng, Xia Heng, Gu Hongdi, and He Tao. He XPeng is from the Internet industry, Xia Heng and He Tao are from the automotive technology field, and Gu Hongdi is from the financial field. All four of them are very young. He XPeng and Gu Hongdi are born in the 1970s, while Xia Heng and He Tao are born in the 1980s.</p><p>He XPeng bluntly said that in the first year and a half of their cooperation, there were many challenges. Facing the same thing, the four people had different strategies and solutions because they came from different fields.</p><p>For example, at that time, someone suggested setting up a forum within the company to allow employees to post and make suggestions at will. This is a common thing in Internet companies, and He XPeng thought it was enough to do it.</p><p>But this is a \"shouldn't\" thing in the automobile industry. Unlike Internet companies, car companies have a large number of partners and suppliers, and there are many types of jobs. The sharp questions raised by the employees on the forum not only fail to promote the solution of the problem, but sometimes lead to misunderstanding because the information sources are too diverse, which makes the solution of the problem stagnate.</p><p>As a result, the four had a heated argument over this matter. Since then, they have adjusted the forum to solve some important and intense issues through other channels, instead of letting ten or twenty thousand people have invalid discussions in the forum.</p><p>\"Many times, the founders of enterprises are too familiar with an industry, or the perspective is too unified. Right is the same right, and wrong may be the same wrong.\" He XPeng said. \"Balance can make enterprises reach an organic and compromising point.\"</p><p><b>Say no to \"involution\"</b></p><p>2020 is the peak period of He XPeng's second venture. In August of this year, XPeng Motor landed on the New York Stock Exchange, with a market value of US $14.9 billion that day. This is a highlight moment that he couldn't match when he founded UC Browser.</p><p>Today, the stock price of XPeng Motor has tripled, and He XPeng's net worth has risen. According to real-time data from Forbes, he is now worth US $8 billion, surpassing Nio Motor Li Bin's US $4.8 billion, becoming the richest man of the new Chinese car-making force.</p><p><img src=\"https://static.tigerbbs.com/7d75beebe9dfbb968a731155d3840ae8\" tg-width=\"877\" tg-height=\"1904\" referrerpolicy=\"no-referrer\"/></p><p>However, after its listing, the pace of XPeng Motors has not slowed down. The release of P7 and P5 allowed them to own family cars and coupes in the price range of 200,000-400,000, while the appearance of G9 at last year's guangzhou auto show completed the gap of medium and large SUV models. They have also taken an important step in internationalization, taking Norway as the bridgehead and opening up the European market; Aerial vehicles were also developed to prepare for the \"air battle\" a few years later.</p><p>\"For us, listing can get more support from the capital market, which allows us to do some medium and long-term thinking.\" He XPeng said.</p><p>He XPeng is a long-termist. When he explained the name \"XPeng\" to \"Cai Yue You\", he said that \"small\" represents an initial intention and always young. When it comes to enterprise management, he will always remind himself to move forward, without big enterprise diseases and being unable to satisfy the status quo; \"Peng\" is a big bird, which can be turned into \"Kun\" and fly very high and far.</p><p>All along, the outside world has been quite criticizing the name \"XPeng\". Some people think that the name is rather earthy, while others think that it is too arrogant to name vehicles with their own names. After all, world-renowned car companies such as Honda and Mercedes-Benz will use the founder's name. He XPeng laughed to \"Wealth About You\": \"You will feel dirty when you read the first 100 times, but you won't read the 101st time.\"</p><p>He XPeng also has an expectation that in another 10 or 20 years, brands named after Chinese names will go global.</p><p>He XPeng has always been full of respect for Toyota, because they have trained a large number of engineers who can work in Toyota all their lives. This is particularly precious among today's Chinese start-ups. In an exclusive interview with \"Caiyue You\", He XPeng also bluntly stated that he hopes to create a lifelong service environment and mechanism for employees. For this reason, they have formulated a set of option incentive policies, hoping that employees will look further.</p><p>\"In the past 20 or 30 years, Chinese cars have grown a lot, but to be honest, Autobots are very hard. Before the new car-making forces came in, the treatment of Autobots was relatively low.\" He XPeng said.</p><p>At the same time, He XPeng also expects the company to continue to toss and innovate, such as letting employees change to different positions and engage in different jobs, which will give employees more opportunities so that they can work in the company for a long time.</p><p>He XPeng doesn't like the word \"involution\". Previously, the age of 35 was an insurmountable hurdle for many employees of Internet companies, and the news of dismissing employees over the age of 35 frequently caused heated discussions.</p><p>He XPeng said that he welcomed middle and senior talents over 35 years old to XPeng Motors. At present, XPeng also has employees over 60 years old. He believes that the automobile industry needs experienced and technically capable people, and these people are often older.</p><p>\"I don't pay much attention to whether the body is young, we pay attention to whether the mind is young,\" said XPeng He</p><p>Today's XPeng Automobile has gone through seven years. Compared with those well-known century-old car companies, it is still just a boy. However, their employees have exceeded 10,000, and in the next three years, XPeng plans to expand its employee scale to 50,000.</p><p>A question that He XPeng often thinks about is, if he is asked to be a screw, can the company be stronger? He believes that when an enterprise is small, it attaches importance to people. When an enterprise becomes big, it should attach importance to organization and system. Everyone, including him, is a part of the organizational system.</p><p><b>Product Manager Building Car Road</b></p><p>In 2021, the entry of Xiaomi and Huawei will make the smart car track full of unknowns.</p><p>Before Lei Jun decided to make a car, he made a long phone call to He XPeng, and exchanged views on the method of cutting in, capital situation, industry changes, etc.</p><p>He XPeng recognized Lei Jun's thinking and encouraged Lei Jun to build cars together. He believes that for many companies, the window for car manufacturing has been closed, but for companies like Huawei and Xiaomi, the window is still open, mainly because the accumulation of these companies over the years can be quickly converted into value.</p><p>For example, the technological accumulation of these companies can allow them to skip the pure electric vehicle link and directly enter the competition of smart cars. Before producing smart cars, XPeng had explored pure electric vehicles for a long time and gone through detours.</p><p>In He XPeng's consciousness, elitism is a concept that cannot be bypassed. In addition to his high admiration for elite companies such as Xiaomi and Huawei, the concept of product design is also full of elitism.</p><p>Years of product manager career have made him firmly believe that an ultimate product is unlikely to be completed by too many people, because different people will have different demands. If these different demands are finally balanced, then the product will be difficult to achieve the ultimate. The height of a product depends more on the talent height of the product manager.</p><p>He also believes that excellent product ideas come from views on the future, but many product managers will fall into the dilemma of blind people touching elephants and design based on existing consciousness. He believes that excellent product managers should have the ability to think by leaps and bounds.</p><p>In September 2020, the flying car released by XPeng Motors at the Beijing Auto Show was very \"leapfrog\", which once caused ridicule from the outside world-before the competition on the ground was over, they were thinking about \"air combat\".</p><p>At the press conference on November 18, 2021, He XPeng once again publicly announced that he has recruited many talents in the flight industry, clarified the overall framework of mass-produced flying cars in 2024, and hoped to build a flying car in a few years. A great flying car.</p><p>As a matter of fact, He XPeng, who loves to \"fly\", is still on the \"ground\" more often. During the two entrepreneurial processes, he needs to solve various problems.</p><p>Nowadays, \"chip shortage\" is a major problem facing the automobile industry. On November 18, after accepting an exclusive interview with \"Caiyue You\", He XPeng went to a conference about chips.</p><p>In 2021, the delivery volume of XPeng vehicles will surpass that of Nio, and it will monopolize the delivery rankings of new car-making forces. This is partly due to their management of the supply chain, which is less affected by the \"chip shortage\" impact. Nio Motors, on the other hand, was once suspended due to chip problems.</p><p>\"We have discussed it internally many times. In the short term, the problem of chip shortage will be difficult to solve. We expect this problem to be solved in three or four quarters.\" He XPeng said.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e9d0f16131bea4ece2670f7550b214b","relate_stocks":{"BK4099":"汽车制造商","BK1119":"汽车制造商","BK4526":"热门中概股","BK1588":"回港中概股","BK4505":"高瓴资本持仓","BK1587":"次新股","XPEV":"小鹏汽车","BK4555":"新能源车","BK1575":"同股不同权","09868":"小鹏汽车-W","BK4551":"寇图资本持仓","BK1539":"汽车股"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105926115","content_text":"跻身国内顶级企业家群，何小鹏还是没有学会迎合观众期待值去“讲故事”。2021年年底，何小鹏在接受腾讯新闻《财约你》专访时，大多数时间都沉浸在自己所畅想的出行世界中。在专访的最后，《财约你》向他提出了几个快问题，他在速答时出现了卡壳，即便问题都比较轻松愉快。“加入小鹏汽车四年，你最快乐的时刻是什么时候？”《财约你》问。“想不起来了。”何小鹏答。“80后创业者中，王兴、张一鸣、黄铮你最喜欢哪一个？”《财约你》再问。“不好说。”想了一秒钟，何小鹏依然没有给出答案。这是他一贯的风格。一方面，小鹏汽车高调推出“飞行器”，将产品布局在空中，让外界觉得这家造车新势力的掌门人轻狂、张扬；另一方面，造车4年，何小鹏始终没有摆脱产品经理的性格痕迹，内敛、谨慎，拿不准的宁可回避也不乱说。2021年是小鹏汽车逆袭的一年，交付量达到98155辆，超越了蔚来和理想，造车新势力稳固多年的“蔚小理”格局变成了“小蔚理”。不过，随着华为、小米的入局，传统车企的强势发力，智能汽车这个行业硝烟再起，谁能在这个战场里走得更稳、更远，一个重要的因素就是创始人的性格和格局。“一个企业的基因，很多是来自创始人身上的基因，如果创始人节约，那企业也会节约。”何小鹏说，“我是技术出身，追求技术上的创新、产品上的差异，也比较务实，我希望这些能够成为一种符号、心智和文化，走向全球。”用自己的名字做品牌让何小鹏与小鹏汽车深度捆绑，一荣俱荣，一辱俱辱。何小鹏向《财约你》表示，这代表了他的态度和责任。2021年的8月和11月，《财约你》在北京、广州两次深度对话何小鹏，试图挖掘他内心深处的性格特征和商业逻辑。二次创业的冒险家骨子里，何小鹏就是一个爱折腾、爱冒险的人，这与他腼腆的长相、低调的发型形成鲜明对比。出生于湖北黄石一个普通家庭的何小鹏，高考前没有出过省，没有吃过麦当劳，更没有坐过飞机。当时，他有一个信念，读万卷书不如行万里路，在高考填报志愿时，唯一的目标就是去省外上学，尤其是北上广这样的发达城市，去看看外面的世界。最终他被位于广州的华南理工大学录取。如今，何小鹏把这种理念延伸到对孩子的教育上，只要生命健康不被严重威胁，孩子们就可以去冒险探索一些事情。他的一个儿子在两岁时，特别调皮，对高压锅充满了好奇心，小手总是想去摸一下。一般的家长会马上制止，但何小鹏却有不同的处理方法。他抓着儿子的手，小心翼翼地让儿子摸了一下，结果儿子被烫哭了，再也不敢去摸高压锅了。这些性格特征在他的创业过程中也被彰显无遗。2014年6月，何小鹏创办的UC浏览器以40亿美元的高价被阿里巴巴收购，为他带来了巨额财富。40亿美元也是当时中国互联网最高的并购价。随后，何小鹏加入阿里，先后担任阿里移动事业群总裁、阿里游戏董事长、土豆总裁，很多人都认为何小鹏将会安心地做一个富豪，创业江湖中将不会再有这个产品经理的身影。但就在“套现”当年，何小鹏开始谋划新能源汽车的再创业，并投资了当时还叫“橙行智动”的小鹏汽车。“当我第一次看到智能电动车的时候，我马上想到的是从塞班时代或JAVA时代向智能时代的跳跃。”何小鹏说。何小鹏创办的UC浏览器正是跨越了塞班和智能两个时代，这经历让他对汽车这种个传统行业的新变化有着天然的敏感。他觉得，在这种跳跃刚刚发生时，行业里的人由于是既得利益者，往往不愿意相信这种变化。也正是在这种行业的沉睡期，让他觉得自己有机会可以撕开一个口子。“互联网行业出来的人，都特别敢想，这是我们长期工作形成的一个特点。”何小鹏说。2015年，何小鹏曾经去参加了一次车展。当时，给他留下深刻印象的是，那次车展一天发布了75款新车，这让他深感汽车行业竞争的残酷要远远大于互联网行业。“试想，如果互联网行业一天发布75个UC浏览器，会不会有压力？汽车的竞争是全球的竞争、科技的竞争、品牌和口碑的竞争。”何小鹏说。这让天生爱冒险的何小鹏更有“下水”一试的决心。“仰着头跟人说话”彼时，UC浏览器的成功为何小鹏积攒了大量的人脉和财富，决定投身智能汽车时，如何将这些资源引流到新项目上，让老伙计们相信他依然能够吃苦创业，是何小鹏急需解决的问题。他的答案是，首先自己all in。“朋友们说，既然你敢all in，那我们就可以支持你。”何小鹏说，“如果我没有全力以赴，每天朝九晚五，把自己的钱拿去理财，那别人怎么会相信我。”在投身智能汽车的创业之后，向传统汽车学习，成为了他的一个重要工作。他经常向同事、朋友讲述一个普通人容易犯的错误：用有限的信息，在正确的逻辑下，得出错误的结论。之所以这样，就是因为获得的信息不全面，他认为这是一件非常可怕的事情。“在原来的领域，你可能已经是博士生了，但是在新领域，你还是在上幼儿园，那你愿不愿意蹲下来，仰着头跟别人说话呢？”何小鹏说。何小鹏一直仰视着汽车这个行业，他认为，手机已经是一个了不起的软硬件结合体，但四五米长的汽车，是一个想象空间更大、更复杂的软硬件结合体。而在决定全身心投入到小鹏汽车时，他早期的合伙人、现任阿里本地生活CEO、高德集团董事长俞永福曾给了他一个建议，并且是唯一的建议——让他找一个可以制衡自己的人。因为何小鹏的想法太多，但不一定都正确。如今，小鹏汽车高层内部就有不少可以制衡他的人，他们的管理架构也备受外界关注。在接受《财约你》专访时，何小鹏也首次讲述了管理层的制衡和合作。目前，站在小鹏汽车权力顶层的有四个人：何小鹏、夏珩、顾宏地、何涛。何小鹏来自互联网行业，夏珩、何涛来自汽车技术领域，顾宏地则来自金融领域。四个人都很年轻，何小鹏、顾宏地是70后，夏珩、何涛则是80后。何小鹏直言，在他们合作的前一年半中，挑战很多，面对同一件事情，由于来自不同的领域，四人的策略、解决方案也不同。比如当时，有人建议在公司内部设立一个论坛，允许员工随意发帖，提建议，这在互联网公司里是一件常见的事情，何小鹏就觉得这件事做就行了。但这在汽车行业里是一件“不应该”的事情。与互联网公司不同，车企有大量的合作伙伴、供应商，岗位的类型也很多。论坛上的员工们提出的尖锐问题，不但不能促进问题的解决，有时还会因为信息来源过于多元造成误解，从而使得问题解决方案停滞不前。于是，四人在这件事上进行了激烈的争吵。此后，他们对论坛进行了调整，对于一些重要的、激烈的问题通过其他渠道进行解决，而不是在论坛里让一两万人进行无效讨论。“很多时候，企业创始人对一个行业太熟悉了，或者角度太统一，对是一样的对，错也可能是一样的错。”何小鹏说，“平衡能使企业达到一个有机、妥协的点。”对“内卷”说不2020年是何小鹏二次创业的高峰期。这一年的8月，小鹏汽车登陆纽交所，当天市值就高达149亿美金。这是他在创办UC浏览器时都比不上的高光时刻。如今，小鹏汽车的股价涨了三倍，何小鹏身家水涨船高。根据福布斯实时数据，他如今的身价达到80亿美元，超过了蔚来汽车李斌48亿美元，成为了中国造车新势力的首富。不过，上市之后，小鹏汽车的脚步没有放慢，P7、P5的发布让他们在20万-40万的价格区间拥有了家用轿车、轿跑，而G9在去年广州车展的亮相则补全了中大型SUV车型的空白。他们在国际化上也迈出了重要一步，以挪威为桥头堡，开拓了欧洲市场；还研制了空中飞行器，为几年后的“空战”做准备。“上市对于我们来说，可以获得资本市场更多的支持，这让我们能够做一些中长线的思考。”何小鹏说。何小鹏是一个长期主义者，他在向《财约你》解释“小鹏”这个名字的时候说，“小”代表一种初心，代表永远年轻，放在企业管理上，就会时刻提醒自己要向前，不能有大企业病，不能满足现状；“鹏”则是一种大鸟，可以化成“鲲”，飞得很高、很远。而一直以来，外界都对“小鹏”这个名字颇有非议，有觉得名字比较土的，也有认为用自己的名字来命名车辆太狂妄的，毕竟本田、奔驰这些世界知名车企才会用创始人名字。何小鹏则向《财约你》笑谈：“你读前100遍的时候会有土的感觉，但是第101遍就不会。”何小鹏也有个期待，就是再过10年、20年，用中国名字命名的品牌会走向世界。何小鹏一直都对丰田这家企业充满敬意，因为他们培养了大量的、可以一生都在丰田工作的工程师。这在今天的中国创业企业当中显得尤为珍贵。在接受《财约你》专访时，何小鹏也直言，希望能够为员工创造一个终生服务的环境和机制，为此他们制定了一套期权激励政策，就是希望员工们将目光放得更远。“过去二三十年，中国的汽车成长了很多，但说实话，汽车人是挺辛苦的，在造车新势力没有进来之前，汽车人的待遇也比较低。”何小鹏说。同时，何小鹏也期待公司能够继续折腾、创新，比如让员工换到不同的岗位，从事不同的工作，这会让员工获得更多的机会，从而能够在公司长时间干下去。何小鹏不喜欢“内卷”这个词。在此前，35岁曾是很多互联网公司员工难以逾越的坎，辞退35岁以上员工的新闻也频频引发热议。何小鹏则表示，他欢迎35岁以上的中高级段位的人才来到小鹏汽车，目前小鹏也有60岁以上的员工。他认为，汽车这个行业需要那些有经验的、技术实力强的人，而这些人的年龄往往都比较大。“我不太关注身体是否年轻，我们关注的是心态是否年轻。”何小鹏说如今的小鹏汽车已经走过了7个年头，与那些知名的百年车企相比，还只是个毛头小子。不过，他们的员工已经超过了万人，未来三年，小鹏还计划将员工规模扩大到5万人。何小鹏经常思考的一个问题是，如果让他做一个螺丝钉，公司是否还能做得更强？他认为，当企业很小的时候，重视的是人，当企业做大的时候，就要重视组织和体系，包括他在内，每个人都是组织体系的一部分。产品经理造车路2021年，小米、华为的入局，让智能汽车的赛道充满未知数。雷军在决定做汽车之前，曾经给何小鹏打过一个很长时间的电话，交流了切入的方法、资本的情况、行业的变革等。何小鹏对雷军的思考很认可，并鼓励雷军一起造车。他认为，对于很多企业来说，造车的窗口已经关闭，但对于华为、小米这样的企业来说，窗口仍然敞开着，主要是因为这些企业多年的积累可以迅速转换成价值。比如，这些企业在技术上的积累，可以让他们跳过纯电动车这个环节，直接进入到智能汽车的竞争中。而小鹏汽车在生产智能汽车之前，曾探索了很久纯电动车，走过了弯路。在何小鹏的意识中，精英主义是一个绕不过去的概念。他除了对小米、华为这样的精英企业倍加推崇之外，在产品设计的理念上也充满了精英主义的影子。多年的产品经理生涯，让他坚信，一个极致的产品不太可能由太多的人共同参与完成，因为不同的人会有不同的诉求，如果最后平衡了这些不同的诉求，那么产品就很难达到极致。一个产品的高度更依赖产品经理的天赋高度。他还认为，优秀的产品理念来自于对未来的看法，但是很多产品经理会陷入到盲人摸象的困境之中，基于已有的意识去设计。他认为，优秀的产品经理应该有跳跃性的思考能力。2020年9月，小鹏汽车在北京车展发布的飞行汽车器就很有“跳跃性”，这一度引起了外界对他们的嘲讽——地面上的竞争还没打完，就想着“空战”了。在2021年11月18日的发布会上，何小鹏再次公开对外宣布，已经招募了很多飞行行业的人才，明确将在2024年量产飞行汽车的整体框架，并希望用几年的时间打造一款很棒的飞行汽车。事实上，爱“飞翔”的何小鹏更多时候还是在“地上”，两次创业过程中，他需要解决各种各样的难题。时下，“芯片荒”是汽车行业面临的一大难题。11月18日，在接受《财约你》专访完之后，何小鹏就去参加了一个有关芯片的会议。在2021年，小鹏汽车的交付量超过了蔚来，独占造车新势力的交付排行榜榜首，这在一定程度上正是得益于他们对供应链的管理，较少受到“芯片荒”的影响。而蔚来汽车，则一度因为芯片问题，陷入停产状态。“我们内部讨论过很多次，短期内，芯片荒的问题很难解决，我们期待三四个季度后，这个问题能够得到解决吧。”何小鹏说。","news_type":1,"symbols_score_info":{"XPEV":0.9,"09868":0.9}},"isVote":1,"tweetType":1,"viewCount":2529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005835770,"gmtCreate":1642223545321,"gmtModify":1676533694427,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"Happy&nbsp;","listText":"Happy&nbsp;","text":"Happy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005835770","repostId":"1154278005","repostType":4,"isVote":1,"tweetType":1,"viewCount":3467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005903358,"gmtCreate":1642130039096,"gmtModify":1676533684915,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005903358","repostId":"1141935271","repostType":4,"repost":{"id":"1141935271","kind":"news","weMediaInfo":{"introduction":"提供来自华尔街的观点，观察市场，提供独道的解读视角。","home_visible":1,"media_name":"老虎锐评","id":"1005414032","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1642126617,"share":"https://ttm.financial/m/news/1141935271?lang=en_US&edition=fundamental","pubTime":"2022-01-14 10:16","market":"us","language":"zh","title":"Tiger Comments: The mysterious asset management predator is listed, but do you dare to buy stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=1141935271","media":"老虎锐评","summary":"为何30年都不上市的公司，突然上市了？","content":"<p><html><head></head><body>U.S. stocks fell on Thursday, Nasdaq fell 2.5%, and Chinese concept stocks followed suit, falling 6%.</p><p><img src=\"https://static.tigerbbs.com/6db99d5fbcec803c7b7d074ea53de752\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>The famous TPG is listed, but do you dare to buy the stock?</b></p><p>TPG, a well-known private equity firm, went public today and closed 15% higher than its IPO price. Today, the market is very weak and the Nasdaq plummeted. Such stock price performance is commendable. TPG has been established for 30 years and has a good reputation. However, since it is not a listed company, everyone can only see flowers in the fog about its financial situation. Should we take advantage of TPG's reputation to charge the stock market, or should we slowly think about a question first-why did a company that hasn't been listed for 30 years suddenly go public?</p><p>TPG's S1 can be described as extremely complex, with a length of 459 pages (Rivian only went on the market some time ago and only had less than 300 pages). Of course, S1 complexity proves that the company is willing to disclose it. Whether you can understand it depends on your level. You think that the purpose of a company's listing is nothing more than making money, which is naive. TPG's listing this round is playing with a big transfer of assets.</p><p>Let's start with the big picture. According to the company's S1 disclosure, this round of IPO listing, excluding the old shareholder China Life's stock sales and listing underwriting fees, TPG expects revenue to be $820 million (after green shoes).</p><p><img src=\"https://static.tigerbbs.com/9bf32d7816a1ac3b9cf28f0b1b158a1c\" tg-width=\"719\" tg-height=\"139\" width=\"100%\" height=\"auto\"/></p><p>Do you think that this $820 million will go into the company's account book? No, this $820 million must first give $380 million to the company's old shareholders (non-old shareholders of China Life). Generally speaking, a prospectus can clearly see which old shareholders sold their stocks to withdraw, but this prospectus can't see it at all. It's just that the $380 million will go to the old shareholders of a company called TPG Operating Group.</p><p>The shares in this public offering are the shares of TPG Partners, but TPG Partners is just a shell company, and the real operating company is TPG Operating Group. This trick is very powerful, because the shareholders of TPG Operating Group are completely hidden, so we don't know how to distribute the $380 million to the old shareholders. The operation of TPG Operating Group is also well hidden through this operation.</p><p>It is a small matter for old shareholders to cash out through this anonymous operation. The real problem lies in a series of asset transfers carried out by TPG's listing. The prospectus did not conceal it, calling this operation \"reorganization\". The picture below is the structure diagram before and after this \"reorganization\" in the company's prospectus.</p><p><img src=\"https://static.tigerbbs.com/1d4cdde7c992a6a198378084e9c81590\" tg-width=\"775\" tg-height=\"337\" width=\"100%\" height=\"auto\"/></p><p>Through this listing, all institutional/retail shareholders got 11% of the equity and 1.4% of the voting rights of the actual company, but this did not reflect the real asset transfer situation at all.</p><p>According to page 126 of the prospectus, in addition to the old shareholders taking away $380 million in cash, the old shareholders also divested the assets of TPG Operating Group of $1.15 billion through a series of operations.</p><p><img src=\"https://static.tigerbbs.com/46dee0004f1f082d6dbb06ab12893faf\" tg-width=\"791\" tg-height=\"231\" width=\"100%\" height=\"auto\"/></p><p>This includes $80 million in cash and two large investments (one $720 million and the other $250 million). Among them, $720 million of the investment has no public investment target, and $250 million comes from TPG Group Holdings (SBS). According to data from the care book, the cost of this investment in 2019 was $180 million, which means that the two-year income reached 34%.</p><p>I don't know what considerations the old shareholders of TPG have taken to divest the $1.1 billion assets from the assets of the listed company. Of course, the prospectus will not explain it. However, this kind of operation will inevitably make people feel that the company is suspected of divesting good assets and listing bad assets. If this is listed on the Shanghai Stock Exchange, 100% will receive an inquiry letter from the China Securities Regulatory Commission.</p><p>It is usually thought that when a company is listed, there are at most two kinds of equity: A shares and B shares. But TPG's listing just came up with four things: ordinary A shares, A shares without voting rights, B shares and Common Unit. He is really a master of equity operation.</p><p><b>Company News</b></p><p><b>TPG Partners (TPG): IPO price $29.50, opening $33, up 15%.</b></p><p><img src=\"https://static.tigerbbs.com/164be6623bcb921239a016153a234acc\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>Ford Motor (F): The market value exceeded $100 billion for the first time. It rose as much as 5.7% today and rose 2% as of the close.</b>Ford Motor currently outperforms General Motors (GM) and Rivian (RIVN) in market cap, but still lags Tesla (TSLA) by a wide margin.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tiger Comments: The mysterious asset management predator is listed, but do you dare to buy stocks?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTiger Comments: The mysterious asset management predator is listed, but do you dare to buy stocks?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1005414032\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎锐评 </p>\n<p class=\"h-time smaller\">2022-01-14 10:16</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>U.S. stocks fell on Thursday, Nasdaq fell 2.5%, and Chinese concept stocks followed suit, falling 6%.</p><p><img src=\"https://static.tigerbbs.com/6db99d5fbcec803c7b7d074ea53de752\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>The famous TPG is listed, but do you dare to buy the stock?</b></p><p>TPG, a well-known private equity firm, went public today and closed 15% higher than its IPO price. Today, the market is very weak and the Nasdaq plummeted. Such stock price performance is commendable. TPG has been established for 30 years and has a good reputation. However, since it is not a listed company, everyone can only see flowers in the fog about its financial situation. Should we take advantage of TPG's reputation to charge the stock market, or should we slowly think about a question first-why did a company that hasn't been listed for 30 years suddenly go public?</p><p>TPG's S1 can be described as extremely complex, with a length of 459 pages (Rivian only went on the market some time ago and only had less than 300 pages). Of course, S1 complexity proves that the company is willing to disclose it. Whether you can understand it depends on your level. You think that the purpose of a company's listing is nothing more than making money, which is naive. TPG's listing this round is playing with a big transfer of assets.</p><p>Let's start with the big picture. According to the company's S1 disclosure, this round of IPO listing, excluding the old shareholder China Life's stock sales and listing underwriting fees, TPG expects revenue to be $820 million (after green shoes).</p><p><img src=\"https://static.tigerbbs.com/9bf32d7816a1ac3b9cf28f0b1b158a1c\" tg-width=\"719\" tg-height=\"139\" width=\"100%\" height=\"auto\"/></p><p>Do you think that this $820 million will go into the company's account book? No, this $820 million must first give $380 million to the company's old shareholders (non-old shareholders of China Life). Generally speaking, a prospectus can clearly see which old shareholders sold their stocks to withdraw, but this prospectus can't see it at all. It's just that the $380 million will go to the old shareholders of a company called TPG Operating Group.</p><p>The shares in this public offering are the shares of TPG Partners, but TPG Partners is just a shell company, and the real operating company is TPG Operating Group. This trick is very powerful, because the shareholders of TPG Operating Group are completely hidden, so we don't know how to distribute the $380 million to the old shareholders. The operation of TPG Operating Group is also well hidden through this operation.</p><p>It is a small matter for old shareholders to cash out through this anonymous operation. The real problem lies in a series of asset transfers carried out by TPG's listing. The prospectus did not conceal it, calling this operation \"reorganization\". The picture below is the structure diagram before and after this \"reorganization\" in the company's prospectus.</p><p><img src=\"https://static.tigerbbs.com/1d4cdde7c992a6a198378084e9c81590\" tg-width=\"775\" tg-height=\"337\" width=\"100%\" height=\"auto\"/></p><p>Through this listing, all institutional/retail shareholders got 11% of the equity and 1.4% of the voting rights of the actual company, but this did not reflect the real asset transfer situation at all.</p><p>According to page 126 of the prospectus, in addition to the old shareholders taking away $380 million in cash, the old shareholders also divested the assets of TPG Operating Group of $1.15 billion through a series of operations.</p><p><img src=\"https://static.tigerbbs.com/46dee0004f1f082d6dbb06ab12893faf\" tg-width=\"791\" tg-height=\"231\" width=\"100%\" height=\"auto\"/></p><p>This includes $80 million in cash and two large investments (one $720 million and the other $250 million). Among them, $720 million of the investment has no public investment target, and $250 million comes from TPG Group Holdings (SBS). According to data from the care book, the cost of this investment in 2019 was $180 million, which means that the two-year income reached 34%.</p><p>I don't know what considerations the old shareholders of TPG have taken to divest the $1.1 billion assets from the assets of the listed company. Of course, the prospectus will not explain it. However, this kind of operation will inevitably make people feel that the company is suspected of divesting good assets and listing bad assets. If this is listed on the Shanghai Stock Exchange, 100% will receive an inquiry letter from the China Securities Regulatory Commission.</p><p>It is usually thought that when a company is listed, there are at most two kinds of equity: A shares and B shares. But TPG's listing just came up with four things: ordinary A shares, A shares without voting rights, B shares and Common Unit. He is really a master of equity operation.</p><p><b>Company News</b></p><p><b>TPG Partners (TPG): IPO price $29.50, opening $33, up 15%.</b></p><p><img src=\"https://static.tigerbbs.com/164be6623bcb921239a016153a234acc\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>Ford Motor (F): The market value exceeded $100 billion for the first time. It rose as much as 5.7% today and rose 2% as of the close.</b>Ford Motor currently outperforms General Motors (GM) and Rivian (RIVN) in market cap, but still lags Tesla (TSLA) by a wide margin.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9e51dca4aea5a4f4975d48e2264c0446","relate_stocks":{".DJI":"道琼斯"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141935271","content_text":"周四美股下跌，纳斯达克大跌2.5%，中概股跟跌6%。大名鼎鼎的TPG上市，但股票你敢买吗？著名私募公司TPG今天上市，收盘价格较IPO价格上涨15%。今天大盘很弱纳斯达克大跌，这样的股价表现难能可贵。TPG成立了30年，名声响亮，但由于不是上市公司，财务状况大家都只能雾里看花。是借着TPG的名声去股市冲锋，还是先缓缓想一个问题——为何30年都不上市的公司，突然上市了？TPG的S1可谓是极其复杂，长达459页（前段时间才上市Rivian才300页不到）。当然，S1复杂证明公司愿意披露，能不能读懂就是看各位的水平了。你以为一个公司上市的目的无非就是圈钱，幼稚。TPG这一轮上市，玩的是资产大转移。先从大的方面来说。根据公司S1披露，这一轮IPO上市，刨去老股东China Life卖股票和上市承销费用，TPG预计收入将是$8.2亿（绿鞋后）。你以为这$8.2亿会进入公司的账本，不会，这$8.2亿首先要拿出$3.8亿给公司的老股东（非China Life的老股东）。通常来说，一个招股书能够清晰看出是哪些老股东售卖股票退出，但是这份招股书却完全看不出来。只是说这$3.8亿会给一家公司的老股东，这家公司叫做TPG Operating Group。这次公开发行的股票是TPG Partners的股票，但是TPG Partners只是一个壳公司，真正运营公司是TPG Operating Group。这招非常厉害，因为TPG Operating Group的股东被完全隐藏起来了，所以并不知道这$3.8亿怎么分配给老股东。TPG Operating Group的运营情况，也通过这种操作，被很好的隐藏起来。老股东通过这种匿名操作套现事情算小，真正的问题在于还是TPG上市来进行的一些列资产转移。招股书也没有隐瞒，称这个操作叫做“重组”，下图是公司招股书中关于这次“重组”前后的结构图。通过这次上市，所有的机构/零售股东得到了实际公司11%的股权和1.4%的投票权，但这完全没有反映真实的资产转移情况。根据招股书第126页显示，除了老股东拿走$3.8亿现金之外，老股东还通过一些列操作，剥离了TPG Operating Group旗下$11.5亿的资产。这其中包括现金$0.8亿，以及两个大的投资（一笔$7.2亿，一笔$2.5亿）。其中$7.2亿的投资并没有公开投资标的，$2.5亿来自于TPG Group Holdings (SBS)。根据照顾书的数据显示，这笔投资2019年的成本是$1.8亿，也就是说两年收益达到了34%。不知道TPG的老股东是经过什么考虑，把这$11亿资产从上市公司的资产中剥离出去，当然招股书也不会解释。但这种操作难免会让人觉得公司有把好资产剥离，坏资产上市的嫌疑。这要是在上交所上市，100%会收到证监会的询问函。通常以为一家公司上市，最多就是A股和B股，两种股权。但TPG上市硬是搞出了4种东西：普通A股，没有投票权的A股，B股和Common Unit。真的是股权运作的高手。公司新闻TPG Partners(TPG)：IPO发行价$29.50，开盘$33，涨15%。 福特汽车(F)：市值首次突破$1,000亿，今日最高上涨5.7%，截止收盘上涨2%。福特汽车目前市值超过通用汽车(GM)和Rivian(RIVN)，但仍大幅落后于特斯拉(TSLA)。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869808120,"gmtCreate":1632270270860,"gmtModify":1676530738814,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"????…….","listText":"????…….","text":"????…….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/869808120","repostId":"2169063415","repostType":4,"repost":{"id":"2169063415","kind":"highlight","pubTimestamp":1632269610,"share":"https://ttm.financial/m/news/2169063415?lang=en_US&edition=fundamental","pubTime":"2021-09-22 08:13","market":"hk","language":"zh","title":"U.S. House Democrats plan to vote on infrastructure bill next week","url":"https://stock-news.laohu8.com/highlight/detail?id=2169063415","media":"市场资讯","summary":"美国众议院民主党领袖们计划在下周一对参议院通过的基础设施法案进行投票，此举可能加剧民主党内的分歧，并令总统乔·拜登的经济议程面临挫折。　　然而，进步派民主党人坚持认为，若在众议院和参议院通过更广泛的社会和其他项目支出法案之前，众议院就对基建法案进行投票，那么他们不会投赞成票。　　他指出，相信众议院民主党人会团结一致，最终通过两项法案。","content":"<p>Democratic leaders in the U.S. House of Representatives plan to vote on an infrastructure bill passed by the Senate next Monday, a move that could exacerbate divisions within the Democratic Party and set back President Joe Biden's economic agenda.</p><p>The vote on the infrastructure bill will almost certainly precede a vote on the broader tax and spending bill, the size and scope of which have been a bone of contention within the Democratic Party over the past few weeks.</p><p>The timing of a vote on the infrastructure bill will appease moderate Democrats, who were assured last month that the $550 billion package, backed by senators from both parties, would go to the House for a vote by Sept. 27. In exchange, they supported the $3.5 trillion budget outline and used it as a starting point for this broader spending bill.</p><p>However, progressive Democrats insist that if the House votes on the infrastructure bill before the House and Senate pass the broader social and other program spending bill, they will not vote in favor. This means that the infrastructure bill may not pass the House of Representatives.</p><p>\"I don't think it may be ready next week,\" House Majority Leader Steny Hoyer said on a conference call with reporters on Tuesday about the broader spending bill.</p><p><b>The Senate is Key</b></p><p>Asked how the timeline would be coordinated with progressives'positions, Hoyer did not explain directly.</p><p>\"We're going to pass a bill that can pass the Senate,\" Hoyer said, talking about the possible contents and costs of a larger bill.</p><p>The White House is pressuring Democrats to stick to Biden's economic plan. On Tuesday, the White House sent National Economic Council Director Brian Deese and White House Legislative Affairs Director Louisa Terrell to Capitol Hill to meet with some House Democrats.</p><p>Senate Democratic moderates Joe Manchin and Kyrsten Sinema have already said they do not support a package that reaches $3.5 trillion in size.</p><p>\"If the Senate can't do $3.5 trillion, we'll see what they can do,\" Hoyer said.</p><p>He pointed out that he believed House Democrats would unite and finally pass the two bills.</p>","source":"sina_us","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. House Democrats plan to vote on infrastructure bill next 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; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. House Democrats plan to vote on infrastructure bill next week\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">市场资讯</strong><span class=\"h-time small\">2021-09-22 08:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Democratic leaders in the U.S. House of Representatives plan to vote on an infrastructure bill passed by the Senate next Monday, a move that could exacerbate divisions within the Democratic Party and set back President Joe Biden's economic agenda.</p><p>The vote on the infrastructure bill will almost certainly precede a vote on the broader tax and spending bill, the size and scope of which have been a bone of contention within the Democratic Party over the past few weeks.</p><p>The timing of a vote on the infrastructure bill will appease moderate Democrats, who were assured last month that the $550 billion package, backed by senators from both parties, would go to the House for a vote by Sept. 27. In exchange, they supported the $3.5 trillion budget outline and used it as a starting point for this broader spending bill.</p><p>However, progressive Democrats insist that if the House votes on the infrastructure bill before the House and Senate pass the broader social and other program spending bill, they will not vote in favor. This means that the infrastructure bill may not pass the House of Representatives.</p><p>\"I don't think it may be ready next week,\" House Majority Leader Steny Hoyer said on a conference call with reporters on Tuesday about the broader spending bill.</p><p><b>The Senate is Key</b></p><p>Asked how the timeline would be coordinated with progressives'positions, Hoyer did not explain directly.</p><p>\"We're going to pass a bill that can pass the Senate,\" Hoyer said, talking about the possible contents and costs of a larger bill.</p><p>The White House is pressuring Democrats to stick to Biden's economic plan. On Tuesday, the White House sent National Economic Council Director Brian Deese and White House Legislative Affairs Director Louisa Terrell to Capitol Hill to meet with some House Democrats.</p><p>Senate Democratic moderates Joe Manchin and Kyrsten Sinema have already said they do not support a package that reaches $3.5 trillion in size.</p><p>\"If the Senate can't do $3.5 trillion, we'll see what they can do,\" Hoyer said.</p><p>He pointed out that he believed House Democrats would unite and finally pass the two bills.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-09-22/doc-iktzqtyt7314684.shtml\">市场资讯</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-09-22/doc-iktzqtyt7314684.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169063415","content_text":"美国众议院民主党领袖们计划在下周一对参议院通过的基础设施法案进行投票，此举可能加剧民主党内的分歧，并令总统乔·拜登的经济议程面临挫折。\n基建法案的投票几乎肯定会在更广泛的税收和支出法案投票之前进行，在过去几周里，后者的规模和范围一直是民主党内争论的焦点。\n对基础设施法案进行投票的时机将安抚温和派民主党人，他们上个月得到保证，这个由两党参议员支持的5500亿美元一揽子计划将在9月27日之前交付众议院投票。作为交换，他们支持了3.5万亿美元预算纲要，并以此作为这项更广泛支出法案的起点。\n然而，进步派民主党人坚持认为，若在众议院和参议院通过更广泛的社会和其他项目支出法案之前，众议院就对基建法案进行投票，那么他们不会投赞成票。这意味着基建法案可能在众议院无法获得通过。\n众议院多数党领袖Steny Hoyer在周二与记者举行的电话会议上谈及上述更广泛支出法案时表示，“我认为下周可能还无法准备好。”\n参议院是关键\n在被问及该时间表将如何与进步派的立场进行协调时，Hoyer没有直接解释。\n“我们将通过一个能在参议院获得通过的法案，”Hoyer谈到了更大规模法案可能包含的内容和成本。\n白宫正在向民主党人施压，要求他们坚持推进拜登的经济计划。周二白宫派出国家经济委员会主任Brian Deese和白宫立法事务主任Louisa Terrell前往国会山与一些众议院民主党人会面。\n参议院民主党温和派Joe Manchin和Kyrsten Sinema已经表示，他们不支持规模达到3.5万亿美元的一揽子计划。\nHoyer表示，“如果参议院不能做到3.5万亿美元，我们将看看他们能做到什么。”\n他指出，相信众议院民主党人会团结一致，最终通过两项法案。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814615381,"gmtCreate":1630812057143,"gmtModify":1676530399211,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"Okay&nbsp;","listText":"Okay&nbsp;","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/814615381","repostId":"1159579630","repostType":4,"repost":{"id":"1159579630","kind":"news","pubTimestamp":1630805949,"share":"https://ttm.financial/m/news/1159579630?lang=en_US&edition=fundamental","pubTime":"2021-09-05 09:39","market":"us","language":"zh","title":"Will the \"non-farm payrolls\" dive scare off the Fed?","url":"https://stock-news.laohu8.com/highlight/detail?id=1159579630","media":"兴业研究","summary":"北京时间9月3日晚，美国劳工部公布8月非农就业数据，8月非农就业人口增加23.5万人，大幅不及市场预期的73.3万人，创2021年1月以来最小增幅。事件：8月非农就业大幅不及预期\n北京时间9月3日晚，","content":"<p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021.<img src=\"https://static.tigerbbs.com/5f2a5367c8d07ef8dc9b53c315d9058f\" tg-width=\"1080\" tg-height=\"1926\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Event: Non-farm employment in August significantly fell short of expectations</p><p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021. The unemployment rate of 5.2% was the same as market expectations and slightly lower than the previous value of 5.4%. The average hourly wage rose 4.3% year-on-year, higher than the expected 3.9% and the previous value of 4.1%. The labor participation rate was 61.7%, the same as the previous value and lower than the expected 61.8%. After the data was released, the decline narrowed after the short-term dive in the US Dollar Index. U.S. bond yields first fell and then rose, and London gold once again exceeded $1,820 per ounce.</p><p><img src=\"https://static.tigerbbs.com/60a9254922e805a0b840c4a2053f51d1\" tg-width=\"900\" tg-height=\"485\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>1. Analysis of non-agricultural employment in August</p><p>As the August ADP employment announced earlier on Wednesday has been significantly lower than expected, the market has lowered its expectation for non-farm employment, but the final data is still surprising. Why is the non-farm payrolls data so sluggish in August? From the perspective of industry distribution, since 2021, the leisure and hotel industries have been the absolute main contributors to jobs, followed by professional and business services, education, medical and health services and other service industries. However, the number of new jobs in the leisure and hotel industries in August was 0, and the contribution of other industries was a drop in the bucket.</p><p><img src=\"https://static.tigerbbs.com/81ab82136bb97e0caafb0593409da6c0\" tg-width=\"900\" tg-height=\"293\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Furthermore, why did the number of leisure and hotel employment suddenly fall into zero growth in August? From the demand side, on the one hand, due to the recent resurgence of the epidemic in the United States and the passing of the summer travel peak, the operation of the service industry has been affected, such as visits to retail and entertainment locations and restaurant reservations. On the other hand, it may be because most Americans have no money to spend. At present, the financial aid that has been distributed has been exhausted, and 26 states stopped issuing additional unemployment benefits in June and July, which made the financial situation of the unemployed worse. After retaliatory consumption in the second quarter, both service consumption and commodity consumption weakened significantly in the third quarter, and the hot real estate market also cooled down, which was consistent with the sluggish employment situation in the service and construction industries in August.</p><p><img src=\"https://static.tigerbbs.com/291e17c7fed595614996557f19a908b6\" tg-width=\"900\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/42085c9f669424576521a38015e76b0a\" tg-width=\"900\" tg-height=\"815\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>2. Strange phenomena in the labor market</p><p>From the supply side of the service industry, the U.S. labor market seems to have fallen into some kind of vicious circle: consumption weakens after losing financial assistance, resulting in a reduction in labor demand (mentioned above); However, high financial assistance has caused more and more people of appropriate age to withdraw from the labor market, and the employment gap persists. At present, the strange phenomenon is that despite the bleak employment performance of the service industry in August, the employment gap of a large number of mid-to low-end service industries is still at a historical high. One possible explanation is that additional unemployment benefits will stop after September 6th, and a large number of people of working age will be forced to return to the labor market. Faced with the recent rapid rise in wages, business owners are reluctant to increase employment, but choose to wait for the labor market to return to balance.</p><p><img src=\"https://static.tigerbbs.com/15a6f458a8f82385f64a0d599cab0db8\" tg-width=\"900\" tg-height=\"451\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ef1dcf7522b1d034347d54139c60236\" tg-width=\"900\" tg-height=\"820\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/f7e1c5abb32aea0044ac97c63c436d9a\" tg-width=\"900\" tg-height=\"700\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>3. How does the Fed respond</p><p>U.S. Treasury Secretary Yellen does not believe that additional unemployment benefits negotiate employment enthusiasm, and even encourages state and local governments to use the remaining funds (approximately $350 billion) issued to state and local governments by the \"American Rescue Plan\" in the previous fiscal stimulus case to continue to issue supplementary unemployment benefits. At present, about 11 million people are still claiming unemployment benefits. This means that if the full amount of US $350 billion is spent and the relief standard of US $300 per week continues to be maintained, it can continue to be maintained for about half a year. However, it is unclear whether states will respond to Yellen's call. In June and July, 26 states have stopped issuing additional unemployment benefits to push the unemployed to return to the labor market. Therefore, it is reasonable for the Fed to continue to observe whether the non-agricultural data in September and October reflect the improvement of the labor market structure.</p><p>The deterioration of single-month data is accidental and will not immediately shake the Fed's plan to implement Taper within the year. Looking at the overall situation of the labor market, the current recovery momentum is still good, stronger than in 2013. Since the August data did not meet the Taper trigger condition of 800,000 new jobs proposed by many officials, the Federal Reserve is more likely to remain on hold in September, or officially announce it in November and implement Taper in December. The US Dollar Index is facing periodic downward pressure, and the RMB has once again ushered in a window period for foreign exchange purchases. Weakening the US Dollar Index and expectations of Taper extension beyond September support commodity prices and inflation expectations, which is good for gold in the short term. The issuance of medium-and long-term U.S. bonds surged in the fourth quarter, coupled with stable inflation expectations and Taper expectations during the year, the long-term yield of U.S. bonds is expected to continue to rebound.</p><p><img src=\"https://static.tigerbbs.com/2878342f80668fa205e4b71bceb8d3af\" tg-width=\"900\" tg-height=\"802\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","source":"lsy1588042834664","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>Will the \"non-farm payrolls\" dive scare off the Fed?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill the \"non-farm payrolls\" dive scare off the Fed?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">兴业研究</strong><span class=\"h-time small\">2021-09-05 09:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021.<img src=\"https://static.tigerbbs.com/5f2a5367c8d07ef8dc9b53c315d9058f\" tg-width=\"1080\" tg-height=\"1926\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Event: Non-farm employment in August significantly fell short of expectations</p><p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021. The unemployment rate of 5.2% was the same as market expectations and slightly lower than the previous value of 5.4%. The average hourly wage rose 4.3% year-on-year, higher than the expected 3.9% and the previous value of 4.1%. The labor participation rate was 61.7%, the same as the previous value and lower than the expected 61.8%. After the data was released, the decline narrowed after the short-term dive in the US Dollar Index. U.S. bond yields first fell and then rose, and London gold once again exceeded $1,820 per ounce.</p><p><img src=\"https://static.tigerbbs.com/60a9254922e805a0b840c4a2053f51d1\" tg-width=\"900\" tg-height=\"485\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>1. Analysis of non-agricultural employment in August</p><p>As the August ADP employment announced earlier on Wednesday has been significantly lower than expected, the market has lowered its expectation for non-farm employment, but the final data is still surprising. Why is the non-farm payrolls data so sluggish in August? From the perspective of industry distribution, since 2021, the leisure and hotel industries have been the absolute main contributors to jobs, followed by professional and business services, education, medical and health services and other service industries. However, the number of new jobs in the leisure and hotel industries in August was 0, and the contribution of other industries was a drop in the bucket.</p><p><img src=\"https://static.tigerbbs.com/81ab82136bb97e0caafb0593409da6c0\" tg-width=\"900\" tg-height=\"293\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Furthermore, why did the number of leisure and hotel employment suddenly fall into zero growth in August? From the demand side, on the one hand, due to the recent resurgence of the epidemic in the United States and the passing of the summer travel peak, the operation of the service industry has been affected, such as visits to retail and entertainment locations and restaurant reservations. On the other hand, it may be because most Americans have no money to spend. At present, the financial aid that has been distributed has been exhausted, and 26 states stopped issuing additional unemployment benefits in June and July, which made the financial situation of the unemployed worse. After retaliatory consumption in the second quarter, both service consumption and commodity consumption weakened significantly in the third quarter, and the hot real estate market also cooled down, which was consistent with the sluggish employment situation in the service and construction industries in August.</p><p><img src=\"https://static.tigerbbs.com/291e17c7fed595614996557f19a908b6\" tg-width=\"900\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/42085c9f669424576521a38015e76b0a\" tg-width=\"900\" tg-height=\"815\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>2. Strange phenomena in the labor market</p><p>From the supply side of the service industry, the U.S. labor market seems to have fallen into some kind of vicious circle: consumption weakens after losing financial assistance, resulting in a reduction in labor demand (mentioned above); However, high financial assistance has caused more and more people of appropriate age to withdraw from the labor market, and the employment gap persists. At present, the strange phenomenon is that despite the bleak employment performance of the service industry in August, the employment gap of a large number of mid-to low-end service industries is still at a historical high. One possible explanation is that additional unemployment benefits will stop after September 6th, and a large number of people of working age will be forced to return to the labor market. Faced with the recent rapid rise in wages, business owners are reluctant to increase employment, but choose to wait for the labor market to return to balance.</p><p><img src=\"https://static.tigerbbs.com/15a6f458a8f82385f64a0d599cab0db8\" tg-width=\"900\" tg-height=\"451\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ef1dcf7522b1d034347d54139c60236\" tg-width=\"900\" tg-height=\"820\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/f7e1c5abb32aea0044ac97c63c436d9a\" tg-width=\"900\" tg-height=\"700\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>3. How does the Fed respond</p><p>U.S. Treasury Secretary Yellen does not believe that additional unemployment benefits negotiate employment enthusiasm, and even encourages state and local governments to use the remaining funds (approximately $350 billion) issued to state and local governments by the \"American Rescue Plan\" in the previous fiscal stimulus case to continue to issue supplementary unemployment benefits. At present, about 11 million people are still claiming unemployment benefits. This means that if the full amount of US $350 billion is spent and the relief standard of US $300 per week continues to be maintained, it can continue to be maintained for about half a year. However, it is unclear whether states will respond to Yellen's call. In June and July, 26 states have stopped issuing additional unemployment benefits to push the unemployed to return to the labor market. Therefore, it is reasonable for the Fed to continue to observe whether the non-agricultural data in September and October reflect the improvement of the labor market structure.</p><p>The deterioration of single-month data is accidental and will not immediately shake the Fed's plan to implement Taper within the year. Looking at the overall situation of the labor market, the current recovery momentum is still good, stronger than in 2013. Since the August data did not meet the Taper trigger condition of 800,000 new jobs proposed by many officials, the Federal Reserve is more likely to remain on hold in September, or officially announce it in November and implement Taper in December. The US Dollar Index is facing periodic downward pressure, and the RMB has once again ushered in a window period for foreign exchange purchases. Weakening the US Dollar Index and expectations of Taper extension beyond September support commodity prices and inflation expectations, which is good for gold in the short term. The issuance of medium-and long-term U.S. bonds surged in the fourth quarter, coupled with stable inflation expectations and Taper expectations during the year, the long-term yield of U.S. bonds is expected to continue to rebound.</p><p><img src=\"https://static.tigerbbs.com/2878342f80668fa205e4b71bceb8d3af\" tg-width=\"900\" tg-height=\"802\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/554426.html\">兴业研究</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f09c44f289c2f0d40610768fe6661fab","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.zhitongcaijing.com/content/detail/554426.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159579630","content_text":"北京时间9月3日晚，美国劳工部公布8月非农就业数据，8月非农就业人口增加23.5万人，大幅不及市场预期的73.3万人，创2021年1月以来最小增幅。事件：8月非农就业大幅不及预期\n北京时间9月3日晚，美国劳工部公布8月非农就业数据，8月非农就业人口增加23.5万人，大幅不及市场预期的73.3万人，创2021年1月以来最小增幅。失业率5.2%与市场预期持平，略低于前值5.4%。平均时薪同比上涨4.3%，高于预期的3.9%和前值4.1%。劳动参与率61.7%，与前值持平，低于预期的61.8%。数据公布后美元指数短线跳水后跌幅收窄，美债收益率先跌后涨，伦敦金再度突破1820美元/盎司。\n\n一、8月非农就业剖析\n由于本周三早先公布的8月ADP就业已经显著不及预期，市场已经降低了对于非农就业的期待，但最终数据仍然令人大跌眼镜。为何8月非农就业数据如此低迷?从行业分布看，2021年以来，休闲、酒店行业是贡献就业岗位的绝对主力，其次是专业和商业服务、教育和医疗健康等服务业。然而8月休闲、酒店业新增就业人数为0，其他行业的贡献杯水车薪。\n\n更进一步，为何8月休闲、酒店就业人数突然陷入0增长?从需求端而言，一方面是因为近期美国疫情复燃，加之夏季出行高峰过去，服务业运行受到影响，例如零售和娱乐地点访问、餐厅预订均有所下滑。另一方面可能是因为大多数美国人没有钱消费了。目前已发放的财政援助消耗殆尽，6、7月还有26个州停止发放额外失业救济，这让失业者的财务状况雪上加霜。在第二季度的报复性消费后，第三季度无论是服务消费还是商品消费都显著边际转弱，火爆的房地产市场也有所降温，与8月服务业、建筑业低迷的就业形势吻合。\n\n二、劳动力市场之怪现象\n从服务业供给端而言，美国劳动力市场似乎陷入某种怪圈：失去财政援助后消费走弱，使得劳动力需求减少(前文所述);但高额的财政援助又使得越来越多的适龄人口退出劳动力市场，用工缺口持续存在。目前的奇怪现象是，尽管8月服务业就业表现惨淡，但大量中低端服务业用工缺口仍在历史高位。一个可能的解释是，9月6日后额外失业救济将停发，大量适龄人口将被迫重返劳动力市场。面对近期薪资快速上涨，企业主并不愿意增加雇佣，而是选择等待劳动力市场重回平衡。\n\n三、美联储如何应对\n美国财长耶伦并不认为额外失业救济磋商了就业积极性，甚至鼓励州和地方政府动用此前财政刺激案中的“美国拯救计划(AmericanRescue Plan)”下发给州和地方政府的剩余资金(大约3500亿美元)继续发放补充失业救济。而目前约有1100万人仍在申领失业救济。这意味着如果全额动用3500亿美元且继续维持每周300美元的救济标准，尚可以继续维持约半年时间。不过目前尚不清楚各州是否会响应耶伦的号召，在6、7月已经有26个州停发额外失业救济，以推动失业者重返劳动力市场。因此，美联储有理由继续观察9月、10月的非农数据是否反映出劳动力市场结构的改善。\n单月数据的恶化具有偶然性，不会立刻动摇美联储年内实施Taper的计划。从劳动力市场全局看，目前复苏势头依然良好，比2013年更加强劲。由于8月数据未达到多位官员提出的新增就业80万人的Taper触发条件，美联储在9月继续按兵不动的几率较大，或在11月正式宣布、12月实施Taper。美元指数面临阶段性回落压力，人民币再度迎来购汇窗口期。美元指数走弱、Taper延至9月后的预期支撑商品价格和通胀预期，短线利好黄金。第四季度中长期美债发行量激增，叠加通胀预期持稳和年内Taper预期仍存，美债长端收益率有望延续反弹。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1075,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895735856,"gmtCreate":1628772439075,"gmtModify":1676529849041,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"Is this&nbsp;","listText":"Is this&nbsp;","text":"Is this","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895735856","repostId":"1108496725","repostType":4,"isVote":1,"tweetType":1,"viewCount":981,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895732738,"gmtCreate":1628772394524,"gmtModify":1676529849021,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"Good ?&nbsp;","listText":"Good ?&nbsp;","text":"Good ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/895732738","repostId":"1124093135","repostType":4,"repost":{"id":"1124093135","kind":"news","pubTimestamp":1628772261,"share":"https://ttm.financial/m/news/1124093135?lang=en_US&edition=fundamental","pubTime":"2021-08-12 20:44","market":"us","language":"zh","title":"The difficulty of Atour Hotel: it is difficult to go public, where is the way out?","url":"https://stock-news.laohu8.com/highlight/detail?id=1124093135","media":"DoNews","summary":"亚朵酒店的一则声明将自己推上了风口浪尖。\n8月11日，关于“阿里女员工事件”网 传“酒店违规办理房卡”事宜，涉事酒店所属的上海亚朵商业管理（集团）有限公司发布最新声明称，经过反复内部调查确认，前台工作","content":"<p><img src=\"https://static.tigerbbs.com/26054ea7224928f13924681df5e29ce9\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\">A statement from Atour Hotel pushed itself to the forefront.</p><p>On August 11th, Shanghai Atour Business Management (Group) Co., Ltd., to which the hotel involved belongs, issued the latest statement regarding the \"Ali Female Employee Incident\" online, saying that after repeated internal investigation and confirmation, the front desk staff handled the room card for the man according to the co-living procedures after being confirmed by the woman, and registered her identity and uploaded public security information. The whole process complies with the accommodation management regulations of the hotel industry, and there is no illegal operation. The above monitoring data has been submitted to the police as evidence.</p><p>However, this statement was quickly beaten in the face by Jinan police. Jinan police pointed out that there was no official channel to recognize that the operation of Atour Hotel did not violate the rules, and believed that Atour Hotel needed to produce evidence before making a statement, which will continue to be verified in the follow-up.</p><p>Atour Hotel's response also aroused public doubts. Some netizens appeared to point out the loopholes in the previous operation of Atour Hotel, such as giving others room cards without confirming with tenants. In addition, if a third person acts as the tenant's consent, Atour Hotel will give the room card.</p><p>A few days ago, the All-Season Hotel also had a security problem. When a woman named fiore Huahua checked into the All-Season Hotel, her room was broken into by a strange naked man at 3 o'clock in the morning.</p><p>Humanism and warmth are the brand images that Atour Hotel has always emphasized to the outside world, but its indifferent statement has collapsed this positioning. Some netizens said, \"Before I made a statement, I didn't know which hotel was involved. Now I finally know it, and I have to avoid it in the future.\"</p><p>Started from IP, trapped in IP</p><p>It is worth mentioning that Atour Hotel still has some origins with All-Season Hotel. All-Season Hotel belongs to Huazhu Group, and Wang Haijun, founder of Atour Hotel, was the co-founder of Huazhu Group and served as the executive vice president of Huazhu Group.</p><p>Wang Haijun, who later resigned from Huazhu Group, founded Atour. In July 2013, Atour's first hotel was born in Xi'an. It is reported that the name of Atour comes from a sheltered mountain village in Yunnan. Wang Haijun positioned Atour as a humanistic hotel, and used humanistic elements to arouse everyone to enjoy quality life.</p><p>Under the background that express hotels were in power at that time, Atour Hotel, which focused on humanities, quickly gained the favor of capital. Tianyancha shows that Atour Hotel received four rounds of financing from 2014 to 2017. Investors include Legend Capital, Alibaba Honorary Partner Lu Zhaoxi, Dehui Capital, and Qunar.</p><p><img src=\"https://static.tigerbbs.com/4116f3551e68a127da1f30148546056d\" tg-width=\"1080\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>(Source: Tianyancha)</p><p>The rise of Atour Hotel is inseparable from its IP strategy. The so-called IP strategy means that Atour cooperates with popular IP to launch cross-border co-branded hotels. In November 2016, Atour and Wu Xiaobo Channel jointly built its first IP hotel \"Atour Wu Hotel\" in Hangzhou. Later, Atour Hotel successively launched theme hotels jointly with IPs such as NetEase YEATION, Zhihu, NetEase Cloud Music, and Hupu. Statistics show that as of March 31, 2021, Atour Hotels has a total of 14 IP hotels with music, basketball, literature, etc. as themes.</p><p>With its creative and novel form, IP Hotel really helped Atour Hotel earn enough attention in the early stage, attracting many consumers to check in. But the drawbacks of IP hotels are slowly emerging.</p><p>\"On the basis of the mature service standards we have created, we can cooperate with any excellent IP with the same tonality and values to integrate the content of IP with our service process. IP is like a means of production. Today, the combination of Atour and these IPs is to better digest these means of production and make it bring better products and experiences to customers.\" Wang Haijun once said when talking about the IP cooperation of Atour Hotel.</p><p>To some extent, IP is like a spokesperson for Atour Hotel. As for the brand, once IP is in crisis, it will have an impact on IP hotels. At least the brand can reduce the damage by terminating the contract with the spokesperson. If an IP hotel wants to break its righteousness with a negative IP, it will have to pay a price that breaks its muscles and bones. For example, some time ago, Wu Xiaobo, whose speech overturned, is hard to say that public opinion is resentful of \"Wu\" and \"Wu Hotel\".</p><p>Furthermore, the declining popularity of IP may also greatly reduce the charm of theme hotels, just like Zhihu at the beginning and Zhihu now, which are no longer a Zhihu.</p><p>In addition, IP hotels that are highly personalized and focus on in-depth operations are not only difficult to achieve scale profitability, but also hinder scale expansion. It is reported that Atour only opened its 100th hotel in 2017.</p><p>As of the first quarter of 2021, Atour's hotel network covers 608 hotels in 131 cities in China, with a total of 71,121 hotel rooms, of which 575 are franchised hotels and a total of 66,267 hotel rooms are managed; There are 299 self-owned hotels, with a total of 66,267 hotel rooms. The total number of rooms under development is 32,825.</p><p>It is difficult to go public, where is the way out?</p><p>At present, Atour Group owns Qingju, Atour Hotel, Atour X Hotel, Atour S Hotel, ZHotel, and T.HOUSE, covering four market segments: mid-end, mid-to-high-end, high-end, and luxury. In addition, Atour Hotel has also launched the scene retail brand Atour Market, and has hatched three original lifestyle brands, including αTOUR PLANET, SAVHE, and Z2GO & CO., covering sleep, fragrance, personal care and travel.</p><p>On June 8 this year, Atour Hotel submitted a listing prospectus to the US Securities and Exchange Commission (SEC), and in the later updated prospectus, Atour Hotel raised a maximum of US $300 million. Among them, Hillhouse Capital's funds are preparing to subscribe for 120 million US dollars. But in the end, Atour Hotel's dream of going public came to naught. At that time, some media broke the news that its prospectus was fraudulent. It is reported that there may actually be only more than 580 of the 608 hotels announced in the prospectus.</p><p>On the road to listing, Atour Hotel can be said to be ill-fated. As early as 2019, Atour Hotel put the listing into action, hired CITIC Construction Investment as a counseling agency, and planned to be listed on the GEM. However, in January of the following year, CITIC Construction Investment announced that it would no longer serve as Atour counseling work, and was later taken over by CICC International. Unexpectedly, in March 2021, CICC also suspended its counseling work for Atour.</p><p>Compared with listing, the performance of Atour Hotel is also unsatisfactory.</p><p>According to the prospectus, Atour Hotel's net profit margin in 2019 was 3.88% and gross profit margin was 29.97%; The net profit rate in 2020 is 2.4% and 26.58%; In 2021, its net profit margin and gross profit margin will be 2.73% and 26.78% respectively. The occupancy rate was 73.4% in 2019 and dropped to 67.1% in 2020; The average daily house price dropped from 429.5 yuan to 389.8 yuan; The average room revenue dropped from 329.5 yuan to 275.1 yuan. In addition, Atour Hotel's liabilities continue to rise. In 2020, the total liabilities will be 1.42 billion yuan, which has increased to 1.53 billion yuan in the first quarter of 2021.</p><p>Wang Haijun once said that Atour was positioned as a lifestyle company from the beginning, and the hotel was only the starting point. It starts from hotels and doesn't stop at hotels. So where to go, it must be in people's lives, which is related to lifestyle.</p><p>According to him, one of the life experience scenes extended by Atour is new retail, and what you use is what you buy. It is mainly the products in the room scene, including bath series, tea, and four-piece sets, which can be purchased by scanning the code.</p><p>As of the end of March 2021, Atour has developed a total of 1,136 scene retail SKUs. The GMV generated by the retail business in 2019 and 2020 was 82.8 million yuan and 107.2 million yuan respectively, a year-on-year increase of 29.5%. The GMV of the retail business in the first quarter of 2021 reached 32.6 million yuan.</p><p>Whether the new retail model in the hotel scene can become a new growth point of Atour Hotel is still unknown. At present, the first thing Atour Hotel may have to solve is how to restore the brand image and convince the outside world that it is indeed a warm brand.</p>","source":"dns","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The difficulty of Atour Hotel: it is difficult to go public, where is the way out?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe difficulty of Atour Hotel: it is difficult to go public, where is the way out?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">DoNews</strong><span class=\"h-time small\">2021-08-12 20:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/26054ea7224928f13924681df5e29ce9\" tg-width=\"1080\" tg-height=\"675\" referrerpolicy=\"no-referrer\">A statement from Atour Hotel pushed itself to the forefront.</p><p>On August 11th, Shanghai Atour Business Management (Group) Co., Ltd., to which the hotel involved belongs, issued the latest statement regarding the \"Ali Female Employee Incident\" online, saying that after repeated internal investigation and confirmation, the front desk staff handled the room card for the man according to the co-living procedures after being confirmed by the woman, and registered her identity and uploaded public security information. The whole process complies with the accommodation management regulations of the hotel industry, and there is no illegal operation. The above monitoring data has been submitted to the police as evidence.</p><p>However, this statement was quickly beaten in the face by Jinan police. Jinan police pointed out that there was no official channel to recognize that the operation of Atour Hotel did not violate the rules, and believed that Atour Hotel needed to produce evidence before making a statement, which will continue to be verified in the follow-up.</p><p>Atour Hotel's response also aroused public doubts. Some netizens appeared to point out the loopholes in the previous operation of Atour Hotel, such as giving others room cards without confirming with tenants. In addition, if a third person acts as the tenant's consent, Atour Hotel will give the room card.</p><p>A few days ago, the All-Season Hotel also had a security problem. When a woman named fiore Huahua checked into the All-Season Hotel, her room was broken into by a strange naked man at 3 o'clock in the morning.</p><p>Humanism and warmth are the brand images that Atour Hotel has always emphasized to the outside world, but its indifferent statement has collapsed this positioning. Some netizens said, \"Before I made a statement, I didn't know which hotel was involved. Now I finally know it, and I have to avoid it in the future.\"</p><p>Started from IP, trapped in IP</p><p>It is worth mentioning that Atour Hotel still has some origins with All-Season Hotel. All-Season Hotel belongs to Huazhu Group, and Wang Haijun, founder of Atour Hotel, was the co-founder of Huazhu Group and served as the executive vice president of Huazhu Group.</p><p>Wang Haijun, who later resigned from Huazhu Group, founded Atour. In July 2013, Atour's first hotel was born in Xi'an. It is reported that the name of Atour comes from a sheltered mountain village in Yunnan. Wang Haijun positioned Atour as a humanistic hotel, and used humanistic elements to arouse everyone to enjoy quality life.</p><p>Under the background that express hotels were in power at that time, Atour Hotel, which focused on humanities, quickly gained the favor of capital. Tianyancha shows that Atour Hotel received four rounds of financing from 2014 to 2017. Investors include Legend Capital, Alibaba Honorary Partner Lu Zhaoxi, Dehui Capital, and Qunar.</p><p><img src=\"https://static.tigerbbs.com/4116f3551e68a127da1f30148546056d\" tg-width=\"1080\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p>(Source: Tianyancha)</p><p>The rise of Atour Hotel is inseparable from its IP strategy. The so-called IP strategy means that Atour cooperates with popular IP to launch cross-border co-branded hotels. In November 2016, Atour and Wu Xiaobo Channel jointly built its first IP hotel \"Atour Wu Hotel\" in Hangzhou. Later, Atour Hotel successively launched theme hotels jointly with IPs such as NetEase YEATION, Zhihu, NetEase Cloud Music, and Hupu. Statistics show that as of March 31, 2021, Atour Hotels has a total of 14 IP hotels with music, basketball, literature, etc. as themes.</p><p>With its creative and novel form, IP Hotel really helped Atour Hotel earn enough attention in the early stage, attracting many consumers to check in. But the drawbacks of IP hotels are slowly emerging.</p><p>\"On the basis of the mature service standards we have created, we can cooperate with any excellent IP with the same tonality and values to integrate the content of IP with our service process. IP is like a means of production. Today, the combination of Atour and these IPs is to better digest these means of production and make it bring better products and experiences to customers.\" Wang Haijun once said when talking about the IP cooperation of Atour Hotel.</p><p>To some extent, IP is like a spokesperson for Atour Hotel. As for the brand, once IP is in crisis, it will have an impact on IP hotels. At least the brand can reduce the damage by terminating the contract with the spokesperson. If an IP hotel wants to break its righteousness with a negative IP, it will have to pay a price that breaks its muscles and bones. For example, some time ago, Wu Xiaobo, whose speech overturned, is hard to say that public opinion is resentful of \"Wu\" and \"Wu Hotel\".</p><p>Furthermore, the declining popularity of IP may also greatly reduce the charm of theme hotels, just like Zhihu at the beginning and Zhihu now, which are no longer a Zhihu.</p><p>In addition, IP hotels that are highly personalized and focus on in-depth operations are not only difficult to achieve scale profitability, but also hinder scale expansion. It is reported that Atour only opened its 100th hotel in 2017.</p><p>As of the first quarter of 2021, Atour's hotel network covers 608 hotels in 131 cities in China, with a total of 71,121 hotel rooms, of which 575 are franchised hotels and a total of 66,267 hotel rooms are managed; There are 299 self-owned hotels, with a total of 66,267 hotel rooms. The total number of rooms under development is 32,825.</p><p>It is difficult to go public, where is the way out?</p><p>At present, Atour Group owns Qingju, Atour Hotel, Atour X Hotel, Atour S Hotel, ZHotel, and T.HOUSE, covering four market segments: mid-end, mid-to-high-end, high-end, and luxury. In addition, Atour Hotel has also launched the scene retail brand Atour Market, and has hatched three original lifestyle brands, including αTOUR PLANET, SAVHE, and Z2GO & CO., covering sleep, fragrance, personal care and travel.</p><p>On June 8 this year, Atour Hotel submitted a listing prospectus to the US Securities and Exchange Commission (SEC), and in the later updated prospectus, Atour Hotel raised a maximum of US $300 million. Among them, Hillhouse Capital's funds are preparing to subscribe for 120 million US dollars. But in the end, Atour Hotel's dream of going public came to naught. At that time, some media broke the news that its prospectus was fraudulent. It is reported that there may actually be only more than 580 of the 608 hotels announced in the prospectus.</p><p>On the road to listing, Atour Hotel can be said to be ill-fated. As early as 2019, Atour Hotel put the listing into action, hired CITIC Construction Investment as a counseling agency, and planned to be listed on the GEM. However, in January of the following year, CITIC Construction Investment announced that it would no longer serve as Atour counseling work, and was later taken over by CICC International. Unexpectedly, in March 2021, CICC also suspended its counseling work for Atour.</p><p>Compared with listing, the performance of Atour Hotel is also unsatisfactory.</p><p>According to the prospectus, Atour Hotel's net profit margin in 2019 was 3.88% and gross profit margin was 29.97%; The net profit rate in 2020 is 2.4% and 26.58%; In 2021, its net profit margin and gross profit margin will be 2.73% and 26.78% respectively. The occupancy rate was 73.4% in 2019 and dropped to 67.1% in 2020; The average daily house price dropped from 429.5 yuan to 389.8 yuan; The average room revenue dropped from 329.5 yuan to 275.1 yuan. In addition, Atour Hotel's liabilities continue to rise. In 2020, the total liabilities will be 1.42 billion yuan, which has increased to 1.53 billion yuan in the first quarter of 2021.</p><p>Wang Haijun once said that Atour was positioned as a lifestyle company from the beginning, and the hotel was only the starting point. It starts from hotels and doesn't stop at hotels. So where to go, it must be in people's lives, which is related to lifestyle.</p><p>According to him, one of the life experience scenes extended by Atour is new retail, and what you use is what you buy. It is mainly the products in the room scene, including bath series, tea, and four-piece sets, which can be purchased by scanning the code.</p><p>As of the end of March 2021, Atour has developed a total of 1,136 scene retail SKUs. The GMV generated by the retail business in 2019 and 2020 was 82.8 million yuan and 107.2 million yuan respectively, a year-on-year increase of 29.5%. The GMV of the retail business in the first quarter of 2021 reached 32.6 million yuan.</p><p>Whether the new retail model in the hotel scene can become a new growth point of Atour Hotel is still unknown. At present, the first thing Atour Hotel may have to solve is how to restore the brand image and convince the outside world that it is indeed a warm brand.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1351675204403585\">DoNews</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ad7ac20d268be280f403f838be8b26e9","relate_stocks":{"ATAT":"亚朵"},"source_url":"https://36kr.com/p/1351675204403585","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124093135","content_text":"亚朵酒店的一则声明将自己推上了风口浪尖。\n8月11日，关于“阿里女员工事件”网 传“酒店违规办理房卡”事宜，涉事酒店所属的上海亚朵商业管理（集团）有限公司发布最新声明称，经过反复内部调查确认，前台工作人员是在得到该女士确认的情况下，按照同住手续给该男士办理的房卡，并进行了身份登记和公安信息上传。整个流程遵守酒店业住宿管理规定，没有违规操作。以上监控资料已作为证据提交给了警方。\n不过，此番声明很快被济南警方打脸。济南警方指出现无官方渠道认可亚朵酒店操作未违规，并认为亚朵酒店需要拿出证据再发声明，后续会继续核实。\n亚朵酒店的回应，也引起了舆论质疑。有网友现身说法，指出亚朵酒店此前的操作漏洞，比如未向房客确认，就给别人房卡。另有用第三人充当房客同意，亚朵酒店就给房卡的情况。\n而几天前，全季酒店也爆出安全问题，一位网名为fiore花花的女士，入住全季酒店时，凌晨3点房间遭陌生赤身男子闯入。\n人文主义、温暖是亚朵酒店一直以来对外强调的品牌形象，但其冷漠的声明却让这一定位崩坏瓦解。有网友表示，“没发声明前，还不知道涉事的是哪家酒店，现在终于知道了，以后要避开。”\n起于IP，困于IP\n值得一说的是，亚朵酒店与全季酒店还有一些渊源。全季酒店隶属于华住集团，而亚朵酒店创始人王海军曾是华住集团的联合创始人，在华住集团担任执行副总裁一职。\n后来从华住集团离职的王海军于创办了亚朵，2013年7月，亚朵的第一家酒店诞生在西安。据悉，亚朵的名字就来源于云南的一个避世山村，王海军把亚朵定位于人文酒店，用人文元素去唤起大家享受品质生活。\n在当时快捷酒店当道的背景下，主打人文的亚朵酒店很快获得资本青睐。天眼查显示，亚朵酒店在2014年到2017年期间，相继获得四轮融资，投资方包括君联资本、阿里巴巴荣誉合伙人陆兆禧、德晖资本、去哪儿。\n\n（来源：天眼查）\n亚朵酒店的崛起，与其IP化战略密不可分。所谓的IP战略，即亚朵与热门IP合作推出跨界联名酒店。2016年11月，亚朵与吴晓波频道在杭州联合打造了其第一个IP酒店“亚朵·吴酒店”。后来，亚朵酒店又先后与网易严选、知乎、网易云音乐、虎扑等IP联名推出主题酒店。有数据显示，截至2021年3月31日，亚朵酒店共有14家以音乐、篮球、文学等为主题的IP酒店。\n凭借创意新颖的形式，IP酒店初期确实帮助亚朵酒店赚足了眼球，吸引不少消费者打卡入住。但IP酒店的弊端也慢慢显露出来。\n“在我们打造的成熟服务标准的基础上，可以和任何优秀的、调性及价值观相同的IP合作，把IP的内容跟我们的服务流程进行整合。IP就像是一种生产资料，今天亚朵跟这些IP的结合，就是更好地去消化这些生产资料，让它给客户带来更好的产品和体验。”王海军在谈到亚朵酒店的IP合作时曾如此说道。\n某种程度来说，IP对于亚朵酒店来说，就像代言人至于品牌，一旦IP出现危机，将会给IP酒店带来冲击。品牌至少还可以通过与代言人解约将损害降低，IP酒店想要和负面IP割袍断义那可是需要付出伤筋动骨的代价。比如前段时间因言论翻车的吴晓波，舆论的反感很难说不厌“吴”及“吴酒店”。\n再就是，IP渐失的人气也可能会让主题酒店的魅力大打折扣，就像当初的知乎和现在的知乎，早已不是一个知乎。\n另外，高度个性化、重深度运营的IP酒店，不仅难实现规模盈利，亦会阻碍规模化扩张。据悉，2017年亚朵才开出第100家酒店。\n截至2021年一季度，亚朵酒店网络覆盖中国131个城市的608家酒店，酒店客房总数为71,121间，其中管理加盟酒店575家，管理酒店客房总数66,267间；自有酒店299家，酒店客房总数为66,267间。正在开发的客房总数为32,825间。\n上市艰难，出路在哪？\n目前，亚朵集团旗下拥有轻居、亚朵酒店、亚朵X酒店、亚朵S酒店、ZHotel、T.HOUSE，覆盖中端、中高端、高端、豪华四大细分市场。此外，亚朵酒店还推出了场景零售品牌Atour Market亚朵百货，并已孵化三大原创生活方式品牌，包含「αTOUR PLANET亚朵星球」、「SAVHE 萨和」，以及「Z2GO&CO.」，覆盖包含睡眠、香氛个护及出行等领域。\n今年6月8日，亚朵酒店向美国证券交易委员会(SEC)递交了上市招股书,而在后来更新的招股书中，亚朵酒店最高募资为3亿美元。其中，高瓴资本旗下基金准备认购1.2亿美元。但最终亚朵酒店上市梦落空。当时有媒体爆料其招股书造假，据悉，招股书里公布的608家酒店，实际可能只有580多家。\n在上市路上，亚朵酒店可以说是命途多舛。早在2019年，亚朵酒店就曾将上市付诸行动，聘请中信建投为辅导机构，计划在创业板上市，但第二年1月，中信建投宣布不再担任亚朵辅导工作，后由中金国际接手。谁知2021年3月，中金公司也中止了对亚朵的辅导工作。\n相比上市，亚朵酒店的业绩表现同样不尽人意。\n招股书显示，亚朵酒店2019年净利率为3.88%、毛利率为29.97%；2020年净利率为2.4%，26.58%；2021年其净利率、毛利率分别为2.73%、26.78%。入住率2019年为73.4%，2020年降至67.1%；日平均房价从429.5元降到389.8元；平均客房收益从329.5元下降到275.1元。另外，亚朵酒店负债不断攀升，2020年负债总额为14.2亿，2021年一季度已经增加到15.3亿元。\n王海军曾表示，亚朵一开始就定位生活方式公司，酒店只是起点。始于酒店、不止于酒店，那么去哪里呢，肯定是去人的生活里，跟生活方式相关。\n据他所说，亚朵所延伸出的生活体验场景，其中一个是新零售，所用即所购，主要是房间场景里的产品，包括沐浴系列、茶、四件套，扫码就可以购买。\n截至2021年3月底，亚朵共开发了1136个场景零售SKU。2019年和2020年零售业务产生的GMV分别为8280万元和1.072亿元，同比增长29.5%。2021一季度的零售业务GMV达到3260万元。\n酒店场景下的零售新模式，能否成为亚朵酒店的新增长点尚不可知。而当下，亚朵酒店可能首先要解决的是如何挽回品牌形象，让外界相信它确实是一个温暖的品牌。","news_type":1,"symbols_score_info":{"ATAT":0.9}},"isVote":1,"tweetType":1,"viewCount":1064,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890457486,"gmtCreate":1628129970245,"gmtModify":1703501781931,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/890457486","repostId":"2157481313","repostType":4,"repost":{"id":"2157481313","kind":"highlight","pubTimestamp":1628136529,"share":"https://ttm.financial/m/news/2157481313?lang=en_US&edition=fundamental","pubTime":"2021-08-05 12:08","market":"us","language":"zh","title":"Howard Marks: Macro forecasts are'either wrong or waste '","url":"https://stock-news.laohu8.com/highlight/detail?id=2157481313","media":"华尔街见闻","summary":"德尔塔变异毒株对经济复苏会造成怎样的影响？高企的通胀是否会促使美联储改变政策立场？对于当下的投资者来说，宏观因素正成为观测市场未来走势的重要一部分。\n英国金融时报8月4日周三刊发了橡树资本联合创始人霍","content":"<p>What impact will the Delta variant strain have on economic recovery? Will high inflation prompt the Fed to change its policy stance? For current investors, macro factors are becoming an important part of observing the future trend of the market.</p><p>The Financial Times published on Wednesday, August 4<a href=\"https://laohu8.com/S/OAK\">Oaktree Capital</a>A byline article by co-founder Howard Marks. In the article, this investment guru gave his own views on macro forecasts.</p><p>At the beginning of the article, Howard Marks threw out his point of view:<b>As an investor who has experienced many market cycles, he has learned to look at macro forecasts with skepticism.</b></p><p>These predictions are usually either unhelpful consensus expectations or non-consensus predictions, but rarely are correct. But as I explained in my latest memo to investors, these projections shouldn't be completely ignored, especially now. Although the prediction seems unreliable, Howard Marks pointed out,<b>These forecasts should not be completely ignored: macro forecasts may be agnostic, but they are important.</b></p><p>Macro factors undoubtedly dominated, mainly focusing on inflation. In the past 16 months, the Federal Reserve, the U.S. Treasury Department and the U.S. Congress have used a lot of money to support, subsidize, stimulate workers, businesses, the overall economy, capital markets and securities markets. (In fact, I think 2020 was the year when \"trillions\" started daily use) one of the consequences was that people were worried about inflation.<b>Taking the current issue of inflation as an example, Howard Marks said that there are many smart people on both sides of the debate, but there is no \"knowledge\" of what the outcome will be.</b></p><p>On the one hand, the Fed has repeatedly reiterated that the continued rise in inflation in recent months \"is a temporary phenomenon<b>”。</b>But in Marks' view, the Fed is obviously more concerned about the economic downturn, but the risk of high inflation cannot be ignored; Moreover, even Fed officials are not 100% sure they are correct.</p><p>Consider the limitations that the Fed knows. For many years, the United States, Europe and Japan set inflation targets at 2%, but none of the central banks achieved them. Today, by maintaining a high level of easing measures, the Fed shows that it is more worried about the economic downturn than inflation. Although the former is more risky, the risk of persistently high inflation still exists. Furthermore, Fed officials generally hold opposite views on the phenomenon, with some even admitting that they are not 100% sure they are correct. Such blunt statements are all we need, but obviously, we can't conclude that \"we have an answer\" on inflation … and not even know that \"there is an answer\". On the other hand, investors are worried that inflation may persist for a long time. Marks believes that markets are good observers, but rarely good forecasters.</p><p>How is the market? What do they know? Although market inflation is a good \"observer\" and highly sensitive to current developments, their response to events can be fickle. In addition, they are rarely good \"forecasters\" in knowing what will happen next.<b>Howard Marks concluded that the truth is that little is known about inflation, including the causes and solutions. \"I describe it as'cryptic 'and therefore I think we should believe forecasts about price increases less than in other areas.\"</b></p><p>Since it is impossible to predict, what should investors do?</p><p>At the end of the article, Howard Marks suggests that readers can look back to a memo he wrote in 2001 called You Can't Predict. You Can Prepare.</p><p>He said that no one can confidently predict whether we are entering an era of inflation, but the results of doing so will be huge.<b>Therefore, he believes that it is reasonable for investors to admit the possibility of high inflation, but they should not adjust asset allocation significantly according to macro expectations. Macro forecasts may or may not be accurate.</b></p><p>We all have our own opinions about the future, but as we say at Oaktree Capital: \"It's one thing to have an opinion, but it's quite another to assume it's right and place a heavy bet.\" So we don't bet on macro developments in general.</p>","source":"wallstreetcn_api","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>Howard Marks: Macro forecasts are'either wrong or waste '</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHoward Marks: Macro forecasts are'either wrong or waste '\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-08-05 12:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What impact will the Delta variant strain have on economic recovery? Will high inflation prompt the Fed to change its policy stance? For current investors, macro factors are becoming an important part of observing the future trend of the market.</p><p>The Financial Times published on Wednesday, August 4<a href=\"https://laohu8.com/S/OAK\">Oaktree Capital</a>A byline article by co-founder Howard Marks. In the article, this investment guru gave his own views on macro forecasts.</p><p>At the beginning of the article, Howard Marks threw out his point of view:<b>As an investor who has experienced many market cycles, he has learned to look at macro forecasts with skepticism.</b></p><p>These predictions are usually either unhelpful consensus expectations or non-consensus predictions, but rarely are correct. But as I explained in my latest memo to investors, these projections shouldn't be completely ignored, especially now. Although the prediction seems unreliable, Howard Marks pointed out,<b>These forecasts should not be completely ignored: macro forecasts may be agnostic, but they are important.</b></p><p>Macro factors undoubtedly dominated, mainly focusing on inflation. In the past 16 months, the Federal Reserve, the U.S. Treasury Department and the U.S. Congress have used a lot of money to support, subsidize, stimulate workers, businesses, the overall economy, capital markets and securities markets. (In fact, I think 2020 was the year when \"trillions\" started daily use) one of the consequences was that people were worried about inflation.<b>Taking the current issue of inflation as an example, Howard Marks said that there are many smart people on both sides of the debate, but there is no \"knowledge\" of what the outcome will be.</b></p><p>On the one hand, the Fed has repeatedly reiterated that the continued rise in inflation in recent months \"is a temporary phenomenon<b>”。</b>But in Marks' view, the Fed is obviously more concerned about the economic downturn, but the risk of high inflation cannot be ignored; Moreover, even Fed officials are not 100% sure they are correct.</p><p>Consider the limitations that the Fed knows. For many years, the United States, Europe and Japan set inflation targets at 2%, but none of the central banks achieved them. Today, by maintaining a high level of easing measures, the Fed shows that it is more worried about the economic downturn than inflation. Although the former is more risky, the risk of persistently high inflation still exists. Furthermore, Fed officials generally hold opposite views on the phenomenon, with some even admitting that they are not 100% sure they are correct. Such blunt statements are all we need, but obviously, we can't conclude that \"we have an answer\" on inflation … and not even know that \"there is an answer\". On the other hand, investors are worried that inflation may persist for a long time. Marks believes that markets are good observers, but rarely good forecasters.</p><p>How is the market? What do they know? Although market inflation is a good \"observer\" and highly sensitive to current developments, their response to events can be fickle. In addition, they are rarely good \"forecasters\" in knowing what will happen next.<b>Howard Marks concluded that the truth is that little is known about inflation, including the causes and solutions. \"I describe it as'cryptic 'and therefore I think we should believe forecasts about price increases less than in other areas.\"</b></p><p>Since it is impossible to predict, what should investors do?</p><p>At the end of the article, Howard Marks suggests that readers can look back to a memo he wrote in 2001 called You Can't Predict. You Can Prepare.</p><p>He said that no one can confidently predict whether we are entering an era of inflation, but the results of doing so will be huge.<b>Therefore, he believes that it is reasonable for investors to admit the possibility of high inflation, but they should not adjust asset allocation significantly according to macro expectations. Macro forecasts may or may not be accurate.</b></p><p>We all have our own opinions about the future, but as we say at Oaktree Capital: \"It's one thing to have an opinion, but it's quite another to assume it's right and place a heavy bet.\" So we don't bet on macro developments in general.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3637182\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a106188796ec9abb78b8a3cfbae334a5","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","SPXU":"三倍做空标普500ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","DXD":"两倍做空道琼30指数ETF-ProShares","QQQ":"纳指100ETF","SPY":"标普500ETF","DOG":"道指ETF-ProShares做空","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares",".DJI":"道琼斯","UPRO":"三倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","OEF":"标普100指数ETF-iShares","OEX":"标普100","SH":"做空标普500-Proshares","SQQQ":"纳指三倍做空ETF","DJX":"1/100道琼斯","SDOW":"三倍做空道指30ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares"},"source_url":"https://wallstreetcn.com/articles/3637182","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2157481313","content_text":"德尔塔变异毒株对经济复苏会造成怎样的影响？高企的通胀是否会促使美联储改变政策立场？对于当下的投资者来说，宏观因素正成为观测市场未来走势的重要一部分。\n英国金融时报8月4日周三刊发了橡树资本联合创始人霍华德·马克斯的署名文章。在文章中，这位投资大师就宏观预测给出了自己的看法。\n在文章开头，霍华德·马克斯就抛出了观点：作为一名经历过多轮市场周期的投资者，他已经学会用怀疑的目光看待宏观预测。\n\n 这些预测通常要么是毫无帮助的共识性预测（unhelpful consensus expectations），要么是非共识性预测，但是很少情况下是正确的。但是正如我在最新一篇给投资者的备忘录中解释的那样，这些预测不应该被完全忽视，尤其是现在。\n\n尽管预测看起来不这么靠谱，霍华德·马克斯还是指出，不应该完全忽视这些预测：宏观预测可能是不可知的，但是确是重要的。\n\n 宏观因素毫无疑问地占据了主导地位，主要集中在了通胀问题上。过去16个月，美联储、美国财政部和美国国会已经动用了大量资金用于支持、补贴、刺激工人、企业、整体经济、资本市场和证券市场。（事实上，我认为2020年是“万亿trillions”开始日常使用的一年）带来的结果之一就是人们担心通胀。\n\n以当下备受关注的通胀问题为例，霍华德·马克斯表示，争论的两方都不乏聪明之人，但是根本不存在“知道”结果会是怎样的情况。\n一方面是美联储不断重申最近几个月来通胀持续走高“是临时现象”。但在马克斯看来，美联储显然更关心经济低迷问题，但是通胀高企的风险也不容忽视；此外，即便是美联储官员也并不100%确定自己是正确的。\n\n 考虑美联储知道的局限性。许多年以来，美国、欧洲和日本把通胀目标设定在2%，但是没有一家央行实现了。如今，通过维持高水平的宽松措施，美联储表明它更担心经济低迷，而不是通胀问题。尽管前者的风险更大，但是通胀持续高企的风险依然存在。此外，美联储官员通常对这一现象持有相反观点，一些人甚至承认他们并不100%确定自己是正确的。这样直率的发言是我们所需要的，但显然，我们不能在通胀问题上得出“我们有答案”的结论……甚至不知道“有一个答案”。\n\n另一方面投资者担心通胀可能会持续较长一段时间。马克斯认为，市场是好的观察者，却极少是好的预测者。\n\n 市场如何？他们知道些什么？尽管市场通胀是不错的“观察者”，且对当前事态的发展高度敏感，但是他们对事件的反应可能是善变的。此外，在知晓接下来将发生什么方面，他们也很少是好的“预测者”。\n\n霍华德·马克斯总结到，事实的真相是，大家对通胀知之甚少，包括原因和解决方法。“我把它描述为‘神秘的’，因此我认为我们应该比其他领域更少相信关于价格上涨的预测。”\n既然无法预测，那么投资者该做些什么呢？\n霍华德·马克斯在文章末尾提出，读者可以回顾下他在2001年写的一篇备忘录，名称为《你不能预测，但可以做好准备》（You Can’t Predict. You Can Prepare）。\n他说，没有人能自信地预测我们是否正进入一个通胀时代，但是这样做的结果将是巨大的。所以他认为，投资者承认高通胀的可能性是具有合理性的，但是不应该根据宏观预期大幅调整资产配置，宏观预测可能是准确的，也可能不准确。\n\n 我们对未来都有自己的看法，但是正如我们在橡树资本所说的：“有观点是一回事，但假设它正确并下重注就完全是另一回事了。”所以我们一般不押注宏观发展。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"QLD":0.9,"SDS":0.9,"DXD":0.9,"UPRO":0.9,"SH":0.9,"NQmain":0.9,"DOG":0.9,"IVV":0.9,"DDM":0.9,"SPXU":0.9,".DJI":0.9,"SSO":0.9,"UDOW":0.9,"OEF":0.9,"SQQQ":0.9,"QID":0.9,"QQQ":0.9,".SPX":0.9,"MNQmain":0.9,"SDOW":0.9,"OEX":0.9,"PSQ":0.9,"DJX":0.9,"SPY":0.9,".IXIC":0.9,"ESmain":0.9,"TQQQ":0.9}},"isVote":1,"tweetType":1,"viewCount":953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175278519,"gmtCreate":1627038540531,"gmtModify":1703482969608,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SYN\">$Synthetic Biologics Inc(SYN)$</a>?????","listText":"<a href=\"https://laohu8.com/S/SYN\">$Synthetic Biologics Inc(SYN)$</a>?????","text":"$Synthetic Biologics Inc(SYN)$?????","images":[{"img":"https://static.tigerbbs.com/8c8fa140ea16664b2fc208b270dab261","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175278519","isVote":1,"tweetType":1,"viewCount":920,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":175273893,"gmtCreate":1627038428712,"gmtModify":1703482966119,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[{"img":"https://static.tigerbbs.com/aec36bd5a4956de09588b5a25dce1463","width":"1125","height":"3685"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175273893","isVote":1,"tweetType":1,"viewCount":1095,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":175031547,"gmtCreate":1626998035789,"gmtModify":1703482006834,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175031547","repostId":"1118052551","repostType":4,"repost":{"id":"1118052551","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626964515,"share":"https://ttm.financial/m/news/1118052551?lang=en_US&edition=fundamental","pubTime":"2021-07-22 22:35","market":"us","language":"zh","title":"[Change] Zhonggai education stocks fell, Gaotu fell more than 7%","url":"https://stock-news.laohu8.com/highlight/detail?id=1118052551","media":"老虎资讯综合","summary":"7月22日，中概教育股走低，高途跌超7%，好未来跌超6%，新东方、有道跌超4%。\n2021年初，几道政策相继下发，教培行业按下了暂停键。在线教育企业忙着裁员、转型，投资人也集体坐不住了。一时间，关闭K","content":"<p>On July 22, Chinese concept education stocks fell.<a href=\"https://laohu8.com/S/GOTU\">High Road</a>Fell more than 7%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 6%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>, Youdao fell more than 4%.</p><p><img src=\"https://static.tigerbbs.com/ccc11b364cd6fb48eeb5107a4498847b\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\">At the beginning of 2021, several policies were issued one after another, and the education and training industry pressed the pause button. Online education companies are busy laying off employees and transforming, and investors can't sit still collectively. For a time, closing the K12 track and switching to quality education and vocational education became a new trend.</p><p>Moreover, this is not a short-term pain in the industry. With the regulation of the qualification, teaching time and capitalization of online education enterprises, the growth space of enterprises is limited. In addition, without the leverage of funds, enterprises cannot expand wildly, and can only snowball by their strength, and the scale effect is greatly reduced.</p><p>Nowadays, online education is falling from its peak, and the sword of Damocles hangs high above its head. No matter what form the industry takes in the future, enterprises need to get rid of distracting thoughts and return to the original intention of education.</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>[Change] Zhonggai education stocks fell, Gaotu fell more than 7%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n[Change] Zhonggai education stocks fell, Gaotu fell more than 7%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-07-22 22:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On July 22, Chinese concept education stocks fell.<a href=\"https://laohu8.com/S/GOTU\">High Road</a>Fell more than 7%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Fell more than 6%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>, Youdao fell more than 4%.</p><p><img src=\"https://static.tigerbbs.com/ccc11b364cd6fb48eeb5107a4498847b\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\">At the beginning of 2021, several policies were issued one after another, and the education and training industry pressed the pause button. Online education companies are busy laying off employees and transforming, and investors can't sit still collectively. For a time, closing the K12 track and switching to quality education and vocational education became a new trend.</p><p>Moreover, this is not a short-term pain in the industry. With the regulation of the qualification, teaching time and capitalization of online education enterprises, the growth space of enterprises is limited. In addition, without the leverage of funds, enterprises cannot expand wildly, and can only snowball by their strength, and the scale effect is greatly reduced.</p><p>Nowadays, online education is falling from its peak, and the sword of Damocles hangs high above its head. No matter what form the industry takes in the future, enterprises need to get rid of distracting thoughts and return to the original intention of education.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2a65ddf73055baf7ee7e017124875990","relate_stocks":{"GOTU":"高途"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118052551","content_text":"7月22日，中概教育股走低，高途跌超7%，好未来跌超6%，新东方、有道跌超4%。\n2021年初，几道政策相继下发，教培行业按下了暂停键。在线教育企业忙着裁员、转型，投资人也集体坐不住了。一时间，关闭K12赛道，转投素质教育、职业教育成了新风向。\n而且，这不是行业短期的阵痛，随着监管对在线教育企业资质、教学时间、资本化的规范，企业增长空间受限，此外，没有了资金杠杆，各企业无法野蛮扩张，只能凭实力滚雪球，规模效应大大下降。\n如今，在线教育正在从巅峰跌落，达摩克里斯之剑高悬头顶，无论未来行业以何种形式前进，都需要企业剔除杂念，回归教育初心。","news_type":1,"symbols_score_info":{"GOTU":0.9}},"isVote":1,"tweetType":1,"viewCount":730,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173563011,"gmtCreate":1626670629933,"gmtModify":1703763077046,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582187509385859","authorIdStr":"3582187509385859"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SYN\">$Synthetic Biologics Inc(SYN)$</a> ?&nbsp;","listText":"<a href=\"https://laohu8.com/S/SYN\">$Synthetic Biologics Inc(SYN)$</a> ?&nbsp;","text":"$Synthetic Biologics Inc(SYN)$ ?","images":[{"img":"https://static.tigerbbs.com/471de3f90977b102df6cc9e1fdd2dc85","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173563011","isVote":1,"tweetType":1,"viewCount":867,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":100460397,"gmtCreate":1619631452419,"gmtModify":1704727131802,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/RIBT\">$RiceBran(RIBT)$</a>[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;","listText":"<a href=\"https://laohu8.com/S/RIBT\">$RiceBran(RIBT)$</a>[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;[Cry]&nbsp;","text":"$RiceBran(RIBT)$[Cry] [Cry] [Cry] [Cry] [Cry] [Cry]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/100460397","isVote":1,"tweetType":1,"viewCount":1521,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3581413944630908","authorId":"3581413944630908","name":"WalkingIn","avatar":"https://static.tigerbbs.com/74ca2c98f1ef1d4b5f17b3666953d588","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3581413944630908","idStr":"3581413944630908"},"content":"Don give up..fly to the Moon bext tuesday","text":"Don give up..fly to the Moon bext tuesday","html":"Don give up..fly to the Moon bext tuesday"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005835770,"gmtCreate":1642223545321,"gmtModify":1676533694427,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"Happy&nbsp;","listText":"Happy&nbsp;","text":"Happy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005835770","repostId":"1154278005","repostType":4,"isVote":1,"tweetType":1,"viewCount":3467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890457486,"gmtCreate":1628129970245,"gmtModify":1703501781931,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/890457486","repostId":"2157481313","repostType":4,"repost":{"id":"2157481313","kind":"highlight","pubTimestamp":1628136529,"share":"https://ttm.financial/m/news/2157481313?lang=en_US&edition=fundamental","pubTime":"2021-08-05 12:08","market":"us","language":"zh","title":"Howard Marks: Macro forecasts are'either wrong or waste '","url":"https://stock-news.laohu8.com/highlight/detail?id=2157481313","media":"华尔街见闻","summary":"德尔塔变异毒株对经济复苏会造成怎样的影响？高企的通胀是否会促使美联储改变政策立场？对于当下的投资者来说，宏观因素正成为观测市场未来走势的重要一部分。\n英国金融时报8月4日周三刊发了橡树资本联合创始人霍","content":"<p>What impact will the Delta variant strain have on economic recovery? Will high inflation prompt the Fed to change its policy stance? For current investors, macro factors are becoming an important part of observing the future trend of the market.</p><p>The Financial Times published on Wednesday, August 4<a href=\"https://laohu8.com/S/OAK\">Oaktree Capital</a>A byline article by co-founder Howard Marks. In the article, this investment guru gave his own views on macro forecasts.</p><p>At the beginning of the article, Howard Marks threw out his point of view:<b>As an investor who has experienced many market cycles, he has learned to look at macro forecasts with skepticism.</b></p><p>These predictions are usually either unhelpful consensus expectations or non-consensus predictions, but rarely are correct. But as I explained in my latest memo to investors, these projections shouldn't be completely ignored, especially now. Although the prediction seems unreliable, Howard Marks pointed out,<b>These forecasts should not be completely ignored: macro forecasts may be agnostic, but they are important.</b></p><p>Macro factors undoubtedly dominated, mainly focusing on inflation. In the past 16 months, the Federal Reserve, the U.S. Treasury Department and the U.S. Congress have used a lot of money to support, subsidize, stimulate workers, businesses, the overall economy, capital markets and securities markets. (In fact, I think 2020 was the year when \"trillions\" started daily use) one of the consequences was that people were worried about inflation.<b>Taking the current issue of inflation as an example, Howard Marks said that there are many smart people on both sides of the debate, but there is no \"knowledge\" of what the outcome will be.</b></p><p>On the one hand, the Fed has repeatedly reiterated that the continued rise in inflation in recent months \"is a temporary phenomenon<b>”。</b>But in Marks' view, the Fed is obviously more concerned about the economic downturn, but the risk of high inflation cannot be ignored; Moreover, even Fed officials are not 100% sure they are correct.</p><p>Consider the limitations that the Fed knows. For many years, the United States, Europe and Japan set inflation targets at 2%, but none of the central banks achieved them. Today, by maintaining a high level of easing measures, the Fed shows that it is more worried about the economic downturn than inflation. Although the former is more risky, the risk of persistently high inflation still exists. Furthermore, Fed officials generally hold opposite views on the phenomenon, with some even admitting that they are not 100% sure they are correct. Such blunt statements are all we need, but obviously, we can't conclude that \"we have an answer\" on inflation … and not even know that \"there is an answer\". On the other hand, investors are worried that inflation may persist for a long time. Marks believes that markets are good observers, but rarely good forecasters.</p><p>How is the market? What do they know? Although market inflation is a good \"observer\" and highly sensitive to current developments, their response to events can be fickle. In addition, they are rarely good \"forecasters\" in knowing what will happen next.<b>Howard Marks concluded that the truth is that little is known about inflation, including the causes and solutions. \"I describe it as'cryptic 'and therefore I think we should believe forecasts about price increases less than in other areas.\"</b></p><p>Since it is impossible to predict, what should investors do?</p><p>At the end of the article, Howard Marks suggests that readers can look back to a memo he wrote in 2001 called You Can't Predict. You Can Prepare.</p><p>He said that no one can confidently predict whether we are entering an era of inflation, but the results of doing so will be huge.<b>Therefore, he believes that it is reasonable for investors to admit the possibility of high inflation, but they should not adjust asset allocation significantly according to macro expectations. Macro forecasts may or may not be accurate.</b></p><p>We all have our own opinions about the future, but as we say at Oaktree Capital: \"It's one thing to have an opinion, but it's quite another to assume it's right and place a heavy bet.\" So we don't bet on macro developments in general.</p>","source":"wallstreetcn_api","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>Howard Marks: Macro forecasts are'either wrong or waste '</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHoward Marks: Macro forecasts are'either wrong or waste '\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-08-05 12:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>What impact will the Delta variant strain have on economic recovery? Will high inflation prompt the Fed to change its policy stance? For current investors, macro factors are becoming an important part of observing the future trend of the market.</p><p>The Financial Times published on Wednesday, August 4<a href=\"https://laohu8.com/S/OAK\">Oaktree Capital</a>A byline article by co-founder Howard Marks. In the article, this investment guru gave his own views on macro forecasts.</p><p>At the beginning of the article, Howard Marks threw out his point of view:<b>As an investor who has experienced many market cycles, he has learned to look at macro forecasts with skepticism.</b></p><p>These predictions are usually either unhelpful consensus expectations or non-consensus predictions, but rarely are correct. But as I explained in my latest memo to investors, these projections shouldn't be completely ignored, especially now. Although the prediction seems unreliable, Howard Marks pointed out,<b>These forecasts should not be completely ignored: macro forecasts may be agnostic, but they are important.</b></p><p>Macro factors undoubtedly dominated, mainly focusing on inflation. In the past 16 months, the Federal Reserve, the U.S. Treasury Department and the U.S. Congress have used a lot of money to support, subsidize, stimulate workers, businesses, the overall economy, capital markets and securities markets. (In fact, I think 2020 was the year when \"trillions\" started daily use) one of the consequences was that people were worried about inflation.<b>Taking the current issue of inflation as an example, Howard Marks said that there are many smart people on both sides of the debate, but there is no \"knowledge\" of what the outcome will be.</b></p><p>On the one hand, the Fed has repeatedly reiterated that the continued rise in inflation in recent months \"is a temporary phenomenon<b>”。</b>But in Marks' view, the Fed is obviously more concerned about the economic downturn, but the risk of high inflation cannot be ignored; Moreover, even Fed officials are not 100% sure they are correct.</p><p>Consider the limitations that the Fed knows. For many years, the United States, Europe and Japan set inflation targets at 2%, but none of the central banks achieved them. Today, by maintaining a high level of easing measures, the Fed shows that it is more worried about the economic downturn than inflation. Although the former is more risky, the risk of persistently high inflation still exists. Furthermore, Fed officials generally hold opposite views on the phenomenon, with some even admitting that they are not 100% sure they are correct. Such blunt statements are all we need, but obviously, we can't conclude that \"we have an answer\" on inflation … and not even know that \"there is an answer\". On the other hand, investors are worried that inflation may persist for a long time. Marks believes that markets are good observers, but rarely good forecasters.</p><p>How is the market? What do they know? Although market inflation is a good \"observer\" and highly sensitive to current developments, their response to events can be fickle. In addition, they are rarely good \"forecasters\" in knowing what will happen next.<b>Howard Marks concluded that the truth is that little is known about inflation, including the causes and solutions. \"I describe it as'cryptic 'and therefore I think we should believe forecasts about price increases less than in other areas.\"</b></p><p>Since it is impossible to predict, what should investors do?</p><p>At the end of the article, Howard Marks suggests that readers can look back to a memo he wrote in 2001 called You Can't Predict. You Can Prepare.</p><p>He said that no one can confidently predict whether we are entering an era of inflation, but the results of doing so will be huge.<b>Therefore, he believes that it is reasonable for investors to admit the possibility of high inflation, but they should not adjust asset allocation significantly according to macro expectations. Macro forecasts may or may not be accurate.</b></p><p>We all have our own opinions about the future, but as we say at Oaktree Capital: \"It's one thing to have an opinion, but it's quite another to assume it's right and place a heavy bet.\" So we don't bet on macro developments in general.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3637182\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a106188796ec9abb78b8a3cfbae334a5","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","SPXU":"三倍做空标普500ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","DXD":"两倍做空道琼30指数ETF-ProShares","QQQ":"纳指100ETF","SPY":"标普500ETF","DOG":"道指ETF-ProShares做空","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares",".DJI":"道琼斯","UPRO":"三倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","OEF":"标普100指数ETF-iShares","OEX":"标普100","SH":"做空标普500-Proshares","SQQQ":"纳指三倍做空ETF","DJX":"1/100道琼斯","SDOW":"三倍做空道指30ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares"},"source_url":"https://wallstreetcn.com/articles/3637182","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2157481313","content_text":"德尔塔变异毒株对经济复苏会造成怎样的影响？高企的通胀是否会促使美联储改变政策立场？对于当下的投资者来说，宏观因素正成为观测市场未来走势的重要一部分。\n英国金融时报8月4日周三刊发了橡树资本联合创始人霍华德·马克斯的署名文章。在文章中，这位投资大师就宏观预测给出了自己的看法。\n在文章开头，霍华德·马克斯就抛出了观点：作为一名经历过多轮市场周期的投资者，他已经学会用怀疑的目光看待宏观预测。\n\n 这些预测通常要么是毫无帮助的共识性预测（unhelpful consensus expectations），要么是非共识性预测，但是很少情况下是正确的。但是正如我在最新一篇给投资者的备忘录中解释的那样，这些预测不应该被完全忽视，尤其是现在。\n\n尽管预测看起来不这么靠谱，霍华德·马克斯还是指出，不应该完全忽视这些预测：宏观预测可能是不可知的，但是确是重要的。\n\n 宏观因素毫无疑问地占据了主导地位，主要集中在了通胀问题上。过去16个月，美联储、美国财政部和美国国会已经动用了大量资金用于支持、补贴、刺激工人、企业、整体经济、资本市场和证券市场。（事实上，我认为2020年是“万亿trillions”开始日常使用的一年）带来的结果之一就是人们担心通胀。\n\n以当下备受关注的通胀问题为例，霍华德·马克斯表示，争论的两方都不乏聪明之人，但是根本不存在“知道”结果会是怎样的情况。\n一方面是美联储不断重申最近几个月来通胀持续走高“是临时现象”。但在马克斯看来，美联储显然更关心经济低迷问题，但是通胀高企的风险也不容忽视；此外，即便是美联储官员也并不100%确定自己是正确的。\n\n 考虑美联储知道的局限性。许多年以来，美国、欧洲和日本把通胀目标设定在2%，但是没有一家央行实现了。如今，通过维持高水平的宽松措施，美联储表明它更担心经济低迷，而不是通胀问题。尽管前者的风险更大，但是通胀持续高企的风险依然存在。此外，美联储官员通常对这一现象持有相反观点，一些人甚至承认他们并不100%确定自己是正确的。这样直率的发言是我们所需要的，但显然，我们不能在通胀问题上得出“我们有答案”的结论……甚至不知道“有一个答案”。\n\n另一方面投资者担心通胀可能会持续较长一段时间。马克斯认为，市场是好的观察者，却极少是好的预测者。\n\n 市场如何？他们知道些什么？尽管市场通胀是不错的“观察者”，且对当前事态的发展高度敏感，但是他们对事件的反应可能是善变的。此外，在知晓接下来将发生什么方面，他们也很少是好的“预测者”。\n\n霍华德·马克斯总结到，事实的真相是，大家对通胀知之甚少，包括原因和解决方法。“我把它描述为‘神秘的’，因此我认为我们应该比其他领域更少相信关于价格上涨的预测。”\n既然无法预测，那么投资者该做些什么呢？\n霍华德·马克斯在文章末尾提出，读者可以回顾下他在2001年写的一篇备忘录，名称为《你不能预测，但可以做好准备》（You Can’t Predict. You Can Prepare）。\n他说，没有人能自信地预测我们是否正进入一个通胀时代，但是这样做的结果将是巨大的。所以他认为，投资者承认高通胀的可能性是具有合理性的，但是不应该根据宏观预期大幅调整资产配置，宏观预测可能是准确的，也可能不准确。\n\n 我们对未来都有自己的看法，但是正如我们在橡树资本所说的：“有观点是一回事，但假设它正确并下重注就完全是另一回事了。”所以我们一般不押注宏观发展。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"QLD":0.9,"SDS":0.9,"DXD":0.9,"UPRO":0.9,"SH":0.9,"NQmain":0.9,"DOG":0.9,"IVV":0.9,"DDM":0.9,"SPXU":0.9,".DJI":0.9,"SSO":0.9,"UDOW":0.9,"OEF":0.9,"SQQQ":0.9,"QID":0.9,"QQQ":0.9,".SPX":0.9,"MNQmain":0.9,"SDOW":0.9,"OEX":0.9,"PSQ":0.9,"DJX":0.9,"SPY":0.9,".IXIC":0.9,"ESmain":0.9,"TQQQ":0.9}},"isVote":1,"tweetType":1,"viewCount":953,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173563011,"gmtCreate":1626670629933,"gmtModify":1703763077046,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SYN\">$Synthetic Biologics Inc(SYN)$</a> ?&nbsp;","listText":"<a href=\"https://laohu8.com/S/SYN\">$Synthetic Biologics Inc(SYN)$</a> ?&nbsp;","text":"$Synthetic Biologics Inc(SYN)$ ?","images":[{"img":"https://static.tigerbbs.com/471de3f90977b102df6cc9e1fdd2dc85","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/173563011","isVote":1,"tweetType":1,"viewCount":867,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9005903358,"gmtCreate":1642130039096,"gmtModify":1676533684915,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005903358","repostId":"1141935271","repostType":4,"repost":{"id":"1141935271","kind":"news","weMediaInfo":{"introduction":"提供来自华尔街的观点，观察市场，提供独道的解读视角。","home_visible":1,"media_name":"老虎锐评","id":"1005414032","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1642126617,"share":"https://ttm.financial/m/news/1141935271?lang=en_US&edition=fundamental","pubTime":"2022-01-14 10:16","market":"us","language":"zh","title":"Tiger Comments: The mysterious asset management predator is listed, but do you dare to buy stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=1141935271","media":"老虎锐评","summary":"为何30年都不上市的公司，突然上市了？","content":"<p><html><head></head><body>U.S. stocks fell on Thursday, Nasdaq fell 2.5%, and Chinese concept stocks followed suit, falling 6%.</p><p><img src=\"https://static.tigerbbs.com/6db99d5fbcec803c7b7d074ea53de752\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>The famous TPG is listed, but do you dare to buy the stock?</b></p><p>TPG, a well-known private equity firm, went public today and closed 15% higher than its IPO price. Today, the market is very weak and the Nasdaq plummeted. Such stock price performance is commendable. TPG has been established for 30 years and has a good reputation. However, since it is not a listed company, everyone can only see flowers in the fog about its financial situation. Should we take advantage of TPG's reputation to charge the stock market, or should we slowly think about a question first-why did a company that hasn't been listed for 30 years suddenly go public?</p><p>TPG's S1 can be described as extremely complex, with a length of 459 pages (Rivian only went on the market some time ago and only had less than 300 pages). Of course, S1 complexity proves that the company is willing to disclose it. Whether you can understand it depends on your level. You think that the purpose of a company's listing is nothing more than making money, which is naive. TPG's listing this round is playing with a big transfer of assets.</p><p>Let's start with the big picture. According to the company's S1 disclosure, this round of IPO listing, excluding the old shareholder China Life's stock sales and listing underwriting fees, TPG expects revenue to be $820 million (after green shoes).</p><p><img src=\"https://static.tigerbbs.com/9bf32d7816a1ac3b9cf28f0b1b158a1c\" tg-width=\"719\" tg-height=\"139\" width=\"100%\" height=\"auto\"/></p><p>Do you think that this $820 million will go into the company's account book? No, this $820 million must first give $380 million to the company's old shareholders (non-old shareholders of China Life). Generally speaking, a prospectus can clearly see which old shareholders sold their stocks to withdraw, but this prospectus can't see it at all. It's just that the $380 million will go to the old shareholders of a company called TPG Operating Group.</p><p>The shares in this public offering are the shares of TPG Partners, but TPG Partners is just a shell company, and the real operating company is TPG Operating Group. This trick is very powerful, because the shareholders of TPG Operating Group are completely hidden, so we don't know how to distribute the $380 million to the old shareholders. The operation of TPG Operating Group is also well hidden through this operation.</p><p>It is a small matter for old shareholders to cash out through this anonymous operation. The real problem lies in a series of asset transfers carried out by TPG's listing. The prospectus did not conceal it, calling this operation \"reorganization\". The picture below is the structure diagram before and after this \"reorganization\" in the company's prospectus.</p><p><img src=\"https://static.tigerbbs.com/1d4cdde7c992a6a198378084e9c81590\" tg-width=\"775\" tg-height=\"337\" width=\"100%\" height=\"auto\"/></p><p>Through this listing, all institutional/retail shareholders got 11% of the equity and 1.4% of the voting rights of the actual company, but this did not reflect the real asset transfer situation at all.</p><p>According to page 126 of the prospectus, in addition to the old shareholders taking away $380 million in cash, the old shareholders also divested the assets of TPG Operating Group of $1.15 billion through a series of operations.</p><p><img src=\"https://static.tigerbbs.com/46dee0004f1f082d6dbb06ab12893faf\" tg-width=\"791\" tg-height=\"231\" width=\"100%\" height=\"auto\"/></p><p>This includes $80 million in cash and two large investments (one $720 million and the other $250 million). Among them, $720 million of the investment has no public investment target, and $250 million comes from TPG Group Holdings (SBS). According to data from the care book, the cost of this investment in 2019 was $180 million, which means that the two-year income reached 34%.</p><p>I don't know what considerations the old shareholders of TPG have taken to divest the $1.1 billion assets from the assets of the listed company. Of course, the prospectus will not explain it. However, this kind of operation will inevitably make people feel that the company is suspected of divesting good assets and listing bad assets. If this is listed on the Shanghai Stock Exchange, 100% will receive an inquiry letter from the China Securities Regulatory Commission.</p><p>It is usually thought that when a company is listed, there are at most two kinds of equity: A shares and B shares. But TPG's listing just came up with four things: ordinary A shares, A shares without voting rights, B shares and Common Unit. He is really a master of equity operation.</p><p><b>Company News</b></p><p><b>TPG Partners (TPG): IPO price $29.50, opening $33, up 15%.</b></p><p><img src=\"https://static.tigerbbs.com/164be6623bcb921239a016153a234acc\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>Ford Motor (F): The market value exceeded $100 billion for the first time. It rose as much as 5.7% today and rose 2% as of the close.</b>Ford Motor currently outperforms General Motors (GM) and Rivian (RIVN) in market cap, but still lags Tesla (TSLA) by a wide margin.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tiger Comments: The mysterious asset management predator is listed, but do you dare to buy stocks?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTiger Comments: The mysterious asset management predator is listed, but do you dare to buy stocks?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1005414032\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎锐评 </p>\n<p class=\"h-time smaller\">2022-01-14 10:16</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>U.S. stocks fell on Thursday, Nasdaq fell 2.5%, and Chinese concept stocks followed suit, falling 6%.</p><p><img src=\"https://static.tigerbbs.com/6db99d5fbcec803c7b7d074ea53de752\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>The famous TPG is listed, but do you dare to buy the stock?</b></p><p>TPG, a well-known private equity firm, went public today and closed 15% higher than its IPO price. Today, the market is very weak and the Nasdaq plummeted. Such stock price performance is commendable. TPG has been established for 30 years and has a good reputation. However, since it is not a listed company, everyone can only see flowers in the fog about its financial situation. Should we take advantage of TPG's reputation to charge the stock market, or should we slowly think about a question first-why did a company that hasn't been listed for 30 years suddenly go public?</p><p>TPG's S1 can be described as extremely complex, with a length of 459 pages (Rivian only went on the market some time ago and only had less than 300 pages). Of course, S1 complexity proves that the company is willing to disclose it. Whether you can understand it depends on your level. You think that the purpose of a company's listing is nothing more than making money, which is naive. TPG's listing this round is playing with a big transfer of assets.</p><p>Let's start with the big picture. According to the company's S1 disclosure, this round of IPO listing, excluding the old shareholder China Life's stock sales and listing underwriting fees, TPG expects revenue to be $820 million (after green shoes).</p><p><img src=\"https://static.tigerbbs.com/9bf32d7816a1ac3b9cf28f0b1b158a1c\" tg-width=\"719\" tg-height=\"139\" width=\"100%\" height=\"auto\"/></p><p>Do you think that this $820 million will go into the company's account book? No, this $820 million must first give $380 million to the company's old shareholders (non-old shareholders of China Life). Generally speaking, a prospectus can clearly see which old shareholders sold their stocks to withdraw, but this prospectus can't see it at all. It's just that the $380 million will go to the old shareholders of a company called TPG Operating Group.</p><p>The shares in this public offering are the shares of TPG Partners, but TPG Partners is just a shell company, and the real operating company is TPG Operating Group. This trick is very powerful, because the shareholders of TPG Operating Group are completely hidden, so we don't know how to distribute the $380 million to the old shareholders. The operation of TPG Operating Group is also well hidden through this operation.</p><p>It is a small matter for old shareholders to cash out through this anonymous operation. The real problem lies in a series of asset transfers carried out by TPG's listing. The prospectus did not conceal it, calling this operation \"reorganization\". The picture below is the structure diagram before and after this \"reorganization\" in the company's prospectus.</p><p><img src=\"https://static.tigerbbs.com/1d4cdde7c992a6a198378084e9c81590\" tg-width=\"775\" tg-height=\"337\" width=\"100%\" height=\"auto\"/></p><p>Through this listing, all institutional/retail shareholders got 11% of the equity and 1.4% of the voting rights of the actual company, but this did not reflect the real asset transfer situation at all.</p><p>According to page 126 of the prospectus, in addition to the old shareholders taking away $380 million in cash, the old shareholders also divested the assets of TPG Operating Group of $1.15 billion through a series of operations.</p><p><img src=\"https://static.tigerbbs.com/46dee0004f1f082d6dbb06ab12893faf\" tg-width=\"791\" tg-height=\"231\" width=\"100%\" height=\"auto\"/></p><p>This includes $80 million in cash and two large investments (one $720 million and the other $250 million). Among them, $720 million of the investment has no public investment target, and $250 million comes from TPG Group Holdings (SBS). According to data from the care book, the cost of this investment in 2019 was $180 million, which means that the two-year income reached 34%.</p><p>I don't know what considerations the old shareholders of TPG have taken to divest the $1.1 billion assets from the assets of the listed company. Of course, the prospectus will not explain it. However, this kind of operation will inevitably make people feel that the company is suspected of divesting good assets and listing bad assets. If this is listed on the Shanghai Stock Exchange, 100% will receive an inquiry letter from the China Securities Regulatory Commission.</p><p>It is usually thought that when a company is listed, there are at most two kinds of equity: A shares and B shares. But TPG's listing just came up with four things: ordinary A shares, A shares without voting rights, B shares and Common Unit. He is really a master of equity operation.</p><p><b>Company News</b></p><p><b>TPG Partners (TPG): IPO price $29.50, opening $33, up 15%.</b></p><p><img src=\"https://static.tigerbbs.com/164be6623bcb921239a016153a234acc\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p><b>Ford Motor (F): The market value exceeded $100 billion for the first time. It rose as much as 5.7% today and rose 2% as of the close.</b>Ford Motor currently outperforms General Motors (GM) and Rivian (RIVN) in market cap, but still lags Tesla (TSLA) by a wide margin.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9e51dca4aea5a4f4975d48e2264c0446","relate_stocks":{".DJI":"道琼斯"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141935271","content_text":"周四美股下跌，纳斯达克大跌2.5%，中概股跟跌6%。大名鼎鼎的TPG上市，但股票你敢买吗？著名私募公司TPG今天上市，收盘价格较IPO价格上涨15%。今天大盘很弱纳斯达克大跌，这样的股价表现难能可贵。TPG成立了30年，名声响亮，但由于不是上市公司，财务状况大家都只能雾里看花。是借着TPG的名声去股市冲锋，还是先缓缓想一个问题——为何30年都不上市的公司，突然上市了？TPG的S1可谓是极其复杂，长达459页（前段时间才上市Rivian才300页不到）。当然，S1复杂证明公司愿意披露，能不能读懂就是看各位的水平了。你以为一个公司上市的目的无非就是圈钱，幼稚。TPG这一轮上市，玩的是资产大转移。先从大的方面来说。根据公司S1披露，这一轮IPO上市，刨去老股东China Life卖股票和上市承销费用，TPG预计收入将是$8.2亿（绿鞋后）。你以为这$8.2亿会进入公司的账本，不会，这$8.2亿首先要拿出$3.8亿给公司的老股东（非China Life的老股东）。通常来说，一个招股书能够清晰看出是哪些老股东售卖股票退出，但是这份招股书却完全看不出来。只是说这$3.8亿会给一家公司的老股东，这家公司叫做TPG Operating Group。这次公开发行的股票是TPG Partners的股票，但是TPG Partners只是一个壳公司，真正运营公司是TPG Operating Group。这招非常厉害，因为TPG Operating Group的股东被完全隐藏起来了，所以并不知道这$3.8亿怎么分配给老股东。TPG Operating Group的运营情况，也通过这种操作，被很好的隐藏起来。老股东通过这种匿名操作套现事情算小，真正的问题在于还是TPG上市来进行的一些列资产转移。招股书也没有隐瞒，称这个操作叫做“重组”，下图是公司招股书中关于这次“重组”前后的结构图。通过这次上市，所有的机构/零售股东得到了实际公司11%的股权和1.4%的投票权，但这完全没有反映真实的资产转移情况。根据招股书第126页显示，除了老股东拿走$3.8亿现金之外，老股东还通过一些列操作，剥离了TPG Operating Group旗下$11.5亿的资产。这其中包括现金$0.8亿，以及两个大的投资（一笔$7.2亿，一笔$2.5亿）。其中$7.2亿的投资并没有公开投资标的，$2.5亿来自于TPG Group Holdings (SBS)。根据照顾书的数据显示，这笔投资2019年的成本是$1.8亿，也就是说两年收益达到了34%。不知道TPG的老股东是经过什么考虑，把这$11亿资产从上市公司的资产中剥离出去，当然招股书也不会解释。但这种操作难免会让人觉得公司有把好资产剥离，坏资产上市的嫌疑。这要是在上交所上市，100%会收到证监会的询问函。通常以为一家公司上市，最多就是A股和B股，两种股权。但TPG上市硬是搞出了4种东西：普通A股，没有投票权的A股，B股和Common Unit。真的是股权运作的高手。公司新闻TPG Partners(TPG)：IPO发行价$29.50，开盘$33，涨15%。 福特汽车(F)：市值首次突破$1,000亿，今日最高上涨5.7%，截止收盘上涨2%。福特汽车目前市值超过通用汽车(GM)和Rivian(RIVN)，但仍大幅落后于特斯拉(TSLA)。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9036557695,"gmtCreate":1647150721882,"gmtModify":1676534199290,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"Ggg","listText":"Ggg","text":"Ggg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036557695","repostId":"1177231006","repostType":4,"repost":{"id":"1177231006","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1646635096,"share":"https://ttm.financial/m/news/1177231006?lang=en_US&edition=fundamental","pubTime":"2022-03-07 14:38","market":"us","language":"zh","title":"Reminder: U.S. daylight saving time on the 13th, U.S. stocks open 1 hour earlier","url":"https://stock-news.laohu8.com/highlight/detail?id=1177231006","media":"老虎资讯综合","summary":"美国2022年夏令时将于2022年3月13日美东时间02：00开始，至2022年11月6日美东时间02：00终止，届时美股市场的常规交易时段对应的北京时间将提前1小时，即变为周一至周五21：30至次日04：00。3月14日为进入夏令时后美股首个交易日。","content":"<p><html><head></head><body>The U.S. 2022 daylight saving time will start at 02:00 Eastern Time on March 13, 2022 and end at 02:00 Eastern Time on November 6, 2022. At that time, the Beijing time corresponding to the regular trading session of the U.S. stock market will be advanced by 1 hour, that is, from 21:30 Monday to Friday to 04:00 the next day. March 14 is the first trading day for U.S. stocks after entering daylight saving time.</p><p><b>Trading hours</b></p><p>Eastern Time: 09:30 ~ 16:00 (closed at noon); Beijing time: 21:30 ~ 04:00 the next day (daylight saving time, March ~ early November)</p><p><b>Pre-market trading hours</b></p><p>EST: 04:00 ~ 09:30; Beijing time: 16:00 ~ 21:30 (daylight saving time, March ~ early November)</p><p><b>After-hours trading hours</b></p><p>EST: 16:00 ~ 20:00; Beijing time: 04:00 ~ 08:00 (daylight saving time, March ~ early November)</p><p>(Note: Daylight saving time is from the second Sunday in March to the first Sunday in November each year, and winter time is from the first Sunday in November to the second Sunday in March each year.)</p><p><img src=\"https://static.tigerbbs.com/69c49b7e49385a32a49c0ed123c91847\" tg-width=\"674\" tg-height=\"365\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: U.S. daylight saving time on the 13th, U.S. stocks open 1 hour earlier</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: U.S. daylight saving time on the 13th, U.S. stocks open 1 hour earlier\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-03-07 14:38</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The U.S. 2022 daylight saving time will start at 02:00 Eastern Time on March 13, 2022 and end at 02:00 Eastern Time on November 6, 2022. At that time, the Beijing time corresponding to the regular trading session of the U.S. stock market will be advanced by 1 hour, that is, from 21:30 Monday to Friday to 04:00 the next day. March 14 is the first trading day for U.S. stocks after entering daylight saving time.</p><p><b>Trading hours</b></p><p>Eastern Time: 09:30 ~ 16:00 (closed at noon); Beijing time: 21:30 ~ 04:00 the next day (daylight saving time, March ~ early November)</p><p><b>Pre-market trading hours</b></p><p>EST: 04:00 ~ 09:30; Beijing time: 16:00 ~ 21:30 (daylight saving time, March ~ early November)</p><p><b>After-hours trading hours</b></p><p>EST: 16:00 ~ 20:00; Beijing time: 04:00 ~ 08:00 (daylight saving time, March ~ early November)</p><p>(Note: Daylight saving time is from the second Sunday in March to the first Sunday in November each year, and winter time is from the first Sunday in November to the second Sunday in March each year.)</p><p><img src=\"https://static.tigerbbs.com/69c49b7e49385a32a49c0ed123c91847\" tg-width=\"674\" tg-height=\"365\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/69c49b7e49385a32a49c0ed123c91847","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177231006","content_text":"美国2022年夏令时将于2022年3月13日美东时间02：00开始，至2022年11月6日美东时间02：00终止，届时美股市场的常规交易时段对应的北京时间将提前1小时，即变为周一至周五21：30至次日04：00。3月14日为进入夏令时后美股首个交易日。交易时间美国东部时间：09：30~16：00 (午间不休市)；北京时间：21：30~次日04：00（夏令时，3月~11月初）盘前交易时间美国东部时间：04：00~09：30；北京时间：16：00~21:30（夏令时，3月~11月初）盘后交易时间美国东部时间：16：00~20：00；北京时间：04：00~08：00（夏令时，3月~11月初）（注：夏令时为每年3月的第二个星期日至11月的第一个星期日，冬令时为每年11月的第一个星期日至次年3月的第二个星期日。）","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2037,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005538112,"gmtCreate":1642342992629,"gmtModify":1676533702658,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"G","listText":"G","text":"G","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005538112","repostId":"1105926115","repostType":4,"repost":{"id":"1105926115","kind":"news","weMediaInfo":{"introduction":"解密财经，透视真相。为您传递第一手新鲜财经深度报道。","home_visible":1,"media_name":"棱镜","id":"91","head_image":"https://static.tigerbbs.com/ea46042fac2240098d9d976e6d67d6a8"},"pubTimestamp":1642304577,"share":"https://ttm.financial/m/news/1105926115?lang=en_US&edition=fundamental","pubTime":"2022-01-16 11:42","market":"us","language":"zh","title":"He XPeng: The whole story of \"Dreamer in the Sky\" building cars","url":"https://stock-news.laohu8.com/highlight/detail?id=1105926115","media":"棱镜","summary":"跻身国内顶级企业家群，何小鹏还是没有学会迎合观众期待值去“讲故事”。2021年年底，何小鹏在接受腾讯新闻《财约你》专访时，大多数时间都沉浸在自己所畅想的出行世界中。在专访的最后，《财约你》向他提出了几","content":"<p><html><head></head><body>Being among the top entrepreneurs in China, He XPeng still hasn't learned to \"tell stories\" to cater to the audience's expectations.</p><p>At the end of 2021, He XPeng was accepting<a href=\"https://laohu8.com/S/00700\">Tencent</a>During the exclusive interview with the news \"Wealth About You\", I spent most of my time immersed in the travel world I imagined. At the end of the exclusive interview, \"Cai Yue You\" asked him several quick questions, and he got stuck in the quick answer, even though the questions were relatively relaxed and pleasant.</p><p>\"Join<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Four years, when was your happiest moment? \" \"Wealth appointment with you\" asked.</p><p>\"I can't remember,\" He XPeng replied.</p><p>\"Among the post-80s entrepreneurs, which one do you like best, Wang Xing, Zhang Yiming and Huang Zheng?\" \"Cai Yue You\" asked again.</p><p>\"It's hard to say.\" After thinking for a second, He XPeng still didn't give an answer.</p><p>This is his usual style. On the one hand, XPeng Motors launched a high-profile \"aircraft\" and laid out its products in the air, making the outside world feel that the head of this new car-making force is frivolous and flamboyant; On the other hand, in the four years of building cars, He XPeng has never got rid of the traces of the personality of a product manager. He is introverted and cautious, and those who are uncertain would rather avoid it than talk nonsense.</p><p>2021 is a year for XPeng vehicles to counterattack, with deliveries reaching 98,155 vehicles, surpassing<a href=\"https://laohu8.com/S/NIO\">Nio</a>And ideal, the \"Wei Xiaoli\" pattern of new car-making forces that have been stable for many years has become \"Xiao Weili\".</p><p>However, with the entry of Huawei and Xiaomi and the strong efforts of traditional car companies,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The automobile industry is on the rise again. Who can go more steadily and further in this battlefield? An important factor is the character and pattern of the founder.</p><p>\"Many of the genes of an enterprise come from the genes of the founder. If the founder saves, the enterprise will also save.\" He XPeng said, \"I am from a technical background, pursuing technological innovation and product differences, and I am pragmatic. I hope these can become a symbol, mind and culture, and go global.\"</p><p>Using his own name as a brand makes He XPeng deeply tied to XPeng Automobile, and both glory and humiliation. He XPeng told \"Cai You\" that this represents his attitude and responsibility.</p><p>In August and November 2021, \"Cai Yue You\" had two in-depth conversations with He XPeng in Beijing and Guangzhou, trying to explore his deep personality traits and business logic.</p><p><img src=\"https://static.tigerbbs.com/53642452f6c22de755e1e8657036e330\" tg-width=\"1080\" tg-height=\"718\" referrerpolicy=\"no-referrer\"/></p><p><b>Second-time adventurer</b></p><p>In his bones, XPeng He is a tossing and adventurous person, which is in sharp contrast to his shy appearance and low-key hairstyle.</p><p>He XPeng, who was born in an ordinary family in Huangshi, Hubei Province, had not been out of the province before the college entrance examination and had not eaten<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>Not to mention taking a plane. At that time, he had a belief that it was better to travel thousands of miles than to read thousands of books. When filling in his volunteers in the college entrance examination, his only goal was to go to school outside the province, especially in developed cities like Beishangguang, to see the outside world. He was eventually admitted to South China University of Technology in Guangzhou.</p><p>Now, He XPeng has extended this concept to the education of children. As long as their lives and health are not seriously threatened, children can take risks and explore something.</p><p>When one of his sons was two years old, he was particularly naughty, full of curiosity about pressure cookers, and his little hands always wanted to touch them. Generally, parents will stop it immediately, but He XPeng has a different way to deal with it. He grabbed his son's hand and carefully let him touch it. As a result, his son was burned and cried, and he never dared to touch the pressure cooker again.</p><p>These personality traits were also highlighted in his entrepreneurial process.</p><p>In June 2014, UC browser founded by He XPeng was sold at a high price of US $4 billion<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The acquisition brought him huge wealth. US $4 billion was also the highest merger and acquisition price of China's Internet at that time.</p><p>Subsequently, He XPeng joined Ali and successively served as the president of Ali Mobile Business Group, the chairman of Ali Games, and the president of Tudou. Many people think that He XPeng will be a rich man with peace of mind, and there will be no such product manager in the entrepreneurial world. But in the year of \"cashing out\", He XPeng began to plan to re-start new energy vehicles, and invested in XPeng vehicles, which were also called \"Orange Travel Zhidong\" at that time.</p><p>\"When I first saw smart electric vehicles, I immediately thought of the jump from the Symbian era or JAVA era to the smart era.\" He XPeng said.</p><p>The UC browser founded by He XPeng spans the two eras of Symbian and Intelligence. This experience makes him naturally sensitive to the new changes in the traditional industry of automobiles. He felt that when this jump just happened, people in the industry were often reluctant to believe this change because they were vested interests.</p><p>It was also during the sleeping period of this kind of industry that he felt that he had a chance to tear a hole.</p><p>\"People from the Internet industry are particularly daring to think, which is a characteristic of our long-term work.\" He XPeng said.</p><p>In 2015, He XPeng went to an auto show. At that time, what left a deep impression on him was that 75 new cars were released in one day at that auto show, which made him deeply feel that the cruelty of competition in the automobile industry is far greater than that in the Internet industry.</p><p>\"Imagine, if the Internet industry releases 75 UC browsers a day, will there be pressure? The competition of automobiles is global competition, technological competition, brand and word-of-mouth competition.\" He XPeng said.</p><p>This makes He XPeng, who is born to love adventure, more determined to \"go into the water\".</p><p><b>\"Talk to people with your head up\"</b></p><p>At that time, the success of UC browser, why did XPeng accumulate a lot of contacts and wealth, and when he decided to devote himself to smart cars, how to divert these resources to new projects and convince the old guys that he could still bear hardships and start a business was an urgent problem for He XPeng to solve. His answer is, first all in himself.</p><p>\"My friends say that if you dare to all in, then we can support you,\" He XPeng said. \"If I didn't go all out, work nine to five every day, and spend my money on financial management, how can others believe me?\"</p><p>After joining the entrepreneurship of smart cars, learning from traditional cars has become an important job for him. He often tells colleagues and friends about a mistake that ordinary people tend to make: using limited information and correct logic, drawing wrong conclusions. The reason for this is that the information obtained is incomplete, which he thinks is a very terrible thing.</p><p>\"In the old field, you may already be a doctoral student, but in the new field, you are still in kindergarten. Would you like to squat down and talk to others with your head tilted up?\" XPeng He said.</p><p>He XPeng has always looked up at the automobile industry. He believes that mobile phones are already a great combination of software and hardware, but a four-or five-meter-long car is a more complex combination of software and hardware with larger imagination space.</p><p>When he decided to devote himself wholeheartedly to XPeng Motors, his early partner, Yu Yongfu, the current CEO of Alibaba Local Life, and chairman of AutoNavi Group, once gave him a suggestion, and it was the only suggestion-let him find someone who can check and balance his own people. Because He XPeng has too many ideas, but not all of them are correct.</p><p>Nowadays, there are many people in XPeng Motors' top management who can check and balance him, and their management structure has also attracted much attention from the outside world. In an exclusive interview with \"Caiyue You\", He XPeng also talked about the checks and balances and cooperation of management for the first time.</p><p>At present, there are four people standing at the top of XPeng's automobile power: He XPeng, Xia Heng, Gu Hongdi, and He Tao. He XPeng is from the Internet industry, Xia Heng and He Tao are from the automotive technology field, and Gu Hongdi is from the financial field. All four of them are very young. He XPeng and Gu Hongdi are born in the 1970s, while Xia Heng and He Tao are born in the 1980s.</p><p>He XPeng bluntly said that in the first year and a half of their cooperation, there were many challenges. Facing the same thing, the four people had different strategies and solutions because they came from different fields.</p><p>For example, at that time, someone suggested setting up a forum within the company to allow employees to post and make suggestions at will. This is a common thing in Internet companies, and He XPeng thought it was enough to do it.</p><p>But this is a \"shouldn't\" thing in the automobile industry. Unlike Internet companies, car companies have a large number of partners and suppliers, and there are many types of jobs. The sharp questions raised by the employees on the forum not only fail to promote the solution of the problem, but sometimes lead to misunderstanding because the information sources are too diverse, which makes the solution of the problem stagnate.</p><p>As a result, the four had a heated argument over this matter. Since then, they have adjusted the forum to solve some important and intense issues through other channels, instead of letting ten or twenty thousand people have invalid discussions in the forum.</p><p>\"Many times, the founders of enterprises are too familiar with an industry, or the perspective is too unified. Right is the same right, and wrong may be the same wrong.\" He XPeng said. \"Balance can make enterprises reach an organic and compromising point.\"</p><p><b>Say no to \"involution\"</b></p><p>2020 is the peak period of He XPeng's second venture. In August of this year, XPeng Motor landed on the New York Stock Exchange, with a market value of US $14.9 billion that day. This is a highlight moment that he couldn't match when he founded UC Browser.</p><p>Today, the stock price of XPeng Motor has tripled, and He XPeng's net worth has risen. According to real-time data from Forbes, he is now worth US $8 billion, surpassing Nio Motor Li Bin's US $4.8 billion, becoming the richest man of the new Chinese car-making force.</p><p><img src=\"https://static.tigerbbs.com/7d75beebe9dfbb968a731155d3840ae8\" tg-width=\"877\" tg-height=\"1904\" referrerpolicy=\"no-referrer\"/></p><p>However, after its listing, the pace of XPeng Motors has not slowed down. The release of P7 and P5 allowed them to own family cars and coupes in the price range of 200,000-400,000, while the appearance of G9 at last year's guangzhou auto show completed the gap of medium and large SUV models. They have also taken an important step in internationalization, taking Norway as the bridgehead and opening up the European market; Aerial vehicles were also developed to prepare for the \"air battle\" a few years later.</p><p>\"For us, listing can get more support from the capital market, which allows us to do some medium and long-term thinking.\" He XPeng said.</p><p>He XPeng is a long-termist. When he explained the name \"XPeng\" to \"Cai Yue You\", he said that \"small\" represents an initial intention and always young. When it comes to enterprise management, he will always remind himself to move forward, without big enterprise diseases and being unable to satisfy the status quo; \"Peng\" is a big bird, which can be turned into \"Kun\" and fly very high and far.</p><p>All along, the outside world has been quite criticizing the name \"XPeng\". Some people think that the name is rather earthy, while others think that it is too arrogant to name vehicles with their own names. After all, world-renowned car companies such as Honda and Mercedes-Benz will use the founder's name. He XPeng laughed to \"Wealth About You\": \"You will feel dirty when you read the first 100 times, but you won't read the 101st time.\"</p><p>He XPeng also has an expectation that in another 10 or 20 years, brands named after Chinese names will go global.</p><p>He XPeng has always been full of respect for Toyota, because they have trained a large number of engineers who can work in Toyota all their lives. This is particularly precious among today's Chinese start-ups. In an exclusive interview with \"Caiyue You\", He XPeng also bluntly stated that he hopes to create a lifelong service environment and mechanism for employees. For this reason, they have formulated a set of option incentive policies, hoping that employees will look further.</p><p>\"In the past 20 or 30 years, Chinese cars have grown a lot, but to be honest, Autobots are very hard. Before the new car-making forces came in, the treatment of Autobots was relatively low.\" He XPeng said.</p><p>At the same time, He XPeng also expects the company to continue to toss and innovate, such as letting employees change to different positions and engage in different jobs, which will give employees more opportunities so that they can work in the company for a long time.</p><p>He XPeng doesn't like the word \"involution\". Previously, the age of 35 was an insurmountable hurdle for many employees of Internet companies, and the news of dismissing employees over the age of 35 frequently caused heated discussions.</p><p>He XPeng said that he welcomed middle and senior talents over 35 years old to XPeng Motors. At present, XPeng also has employees over 60 years old. He believes that the automobile industry needs experienced and technically capable people, and these people are often older.</p><p>\"I don't pay much attention to whether the body is young, we pay attention to whether the mind is young,\" said XPeng He</p><p>Today's XPeng Automobile has gone through seven years. Compared with those well-known century-old car companies, it is still just a boy. However, their employees have exceeded 10,000, and in the next three years, XPeng plans to expand its employee scale to 50,000.</p><p>A question that He XPeng often thinks about is, if he is asked to be a screw, can the company be stronger? He believes that when an enterprise is small, it attaches importance to people. When an enterprise becomes big, it should attach importance to organization and system. Everyone, including him, is a part of the organizational system.</p><p><b>Product Manager Building Car Road</b></p><p>In 2021, the entry of Xiaomi and Huawei will make the smart car track full of unknowns.</p><p>Before Lei Jun decided to make a car, he made a long phone call to He XPeng, and exchanged views on the method of cutting in, capital situation, industry changes, etc.</p><p>He XPeng recognized Lei Jun's thinking and encouraged Lei Jun to build cars together. He believes that for many companies, the window for car manufacturing has been closed, but for companies like Huawei and Xiaomi, the window is still open, mainly because the accumulation of these companies over the years can be quickly converted into value.</p><p>For example, the technological accumulation of these companies can allow them to skip the pure electric vehicle link and directly enter the competition of smart cars. Before producing smart cars, XPeng had explored pure electric vehicles for a long time and gone through detours.</p><p>In He XPeng's consciousness, elitism is a concept that cannot be bypassed. In addition to his high admiration for elite companies such as Xiaomi and Huawei, the concept of product design is also full of elitism.</p><p>Years of product manager career have made him firmly believe that an ultimate product is unlikely to be completed by too many people, because different people will have different demands. If these different demands are finally balanced, then the product will be difficult to achieve the ultimate. The height of a product depends more on the talent height of the product manager.</p><p>He also believes that excellent product ideas come from views on the future, but many product managers will fall into the dilemma of blind people touching elephants and design based on existing consciousness. He believes that excellent product managers should have the ability to think by leaps and bounds.</p><p>In September 2020, the flying car released by XPeng Motors at the Beijing Auto Show was very \"leapfrog\", which once caused ridicule from the outside world-before the competition on the ground was over, they were thinking about \"air combat\".</p><p>At the press conference on November 18, 2021, He XPeng once again publicly announced that he has recruited many talents in the flight industry, clarified the overall framework of mass-produced flying cars in 2024, and hoped to build a flying car in a few years. A great flying car.</p><p>As a matter of fact, He XPeng, who loves to \"fly\", is still on the \"ground\" more often. During the two entrepreneurial processes, he needs to solve various problems.</p><p>Nowadays, \"chip shortage\" is a major problem facing the automobile industry. On November 18, after accepting an exclusive interview with \"Caiyue You\", He XPeng went to a conference about chips.</p><p>In 2021, the delivery volume of XPeng vehicles will surpass that of Nio, and it will monopolize the delivery rankings of new car-making forces. This is partly due to their management of the supply chain, which is less affected by the \"chip shortage\" impact. Nio Motors, on the other hand, was once suspended due to chip problems.</p><p>\"We have discussed it internally many times. In the short term, the problem of chip shortage will be difficult to solve. We expect this problem to be solved in three or four quarters.\" He XPeng said.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>He XPeng: The whole story of \"Dreamer in the Sky\" building cars</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHe XPeng: The whole story of \"Dreamer in the Sky\" building cars\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/91\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/ea46042fac2240098d9d976e6d67d6a8);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">棱镜 </p>\n<p class=\"h-time smaller\">2022-01-16 11:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Being among the top entrepreneurs in China, He XPeng still hasn't learned to \"tell stories\" to cater to the audience's expectations.</p><p>At the end of 2021, He XPeng was accepting<a href=\"https://laohu8.com/S/00700\">Tencent</a>During the exclusive interview with the news \"Wealth About You\", I spent most of my time immersed in the travel world I imagined. At the end of the exclusive interview, \"Cai Yue You\" asked him several quick questions, and he got stuck in the quick answer, even though the questions were relatively relaxed and pleasant.</p><p>\"Join<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Four years, when was your happiest moment? \" \"Wealth appointment with you\" asked.</p><p>\"I can't remember,\" He XPeng replied.</p><p>\"Among the post-80s entrepreneurs, which one do you like best, Wang Xing, Zhang Yiming and Huang Zheng?\" \"Cai Yue You\" asked again.</p><p>\"It's hard to say.\" After thinking for a second, He XPeng still didn't give an answer.</p><p>This is his usual style. On the one hand, XPeng Motors launched a high-profile \"aircraft\" and laid out its products in the air, making the outside world feel that the head of this new car-making force is frivolous and flamboyant; On the other hand, in the four years of building cars, He XPeng has never got rid of the traces of the personality of a product manager. He is introverted and cautious, and those who are uncertain would rather avoid it than talk nonsense.</p><p>2021 is a year for XPeng vehicles to counterattack, with deliveries reaching 98,155 vehicles, surpassing<a href=\"https://laohu8.com/S/NIO\">Nio</a>And ideal, the \"Wei Xiaoli\" pattern of new car-making forces that have been stable for many years has become \"Xiao Weili\".</p><p>However, with the entry of Huawei and Xiaomi and the strong efforts of traditional car companies,<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>The automobile industry is on the rise again. Who can go more steadily and further in this battlefield? An important factor is the character and pattern of the founder.</p><p>\"Many of the genes of an enterprise come from the genes of the founder. If the founder saves, the enterprise will also save.\" He XPeng said, \"I am from a technical background, pursuing technological innovation and product differences, and I am pragmatic. I hope these can become a symbol, mind and culture, and go global.\"</p><p>Using his own name as a brand makes He XPeng deeply tied to XPeng Automobile, and both glory and humiliation. He XPeng told \"Cai You\" that this represents his attitude and responsibility.</p><p>In August and November 2021, \"Cai Yue You\" had two in-depth conversations with He XPeng in Beijing and Guangzhou, trying to explore his deep personality traits and business logic.</p><p><img src=\"https://static.tigerbbs.com/53642452f6c22de755e1e8657036e330\" tg-width=\"1080\" tg-height=\"718\" referrerpolicy=\"no-referrer\"/></p><p><b>Second-time adventurer</b></p><p>In his bones, XPeng He is a tossing and adventurous person, which is in sharp contrast to his shy appearance and low-key hairstyle.</p><p>He XPeng, who was born in an ordinary family in Huangshi, Hubei Province, had not been out of the province before the college entrance examination and had not eaten<a href=\"https://laohu8.com/S/MCD\">McDonald's</a>Not to mention taking a plane. At that time, he had a belief that it was better to travel thousands of miles than to read thousands of books. When filling in his volunteers in the college entrance examination, his only goal was to go to school outside the province, especially in developed cities like Beishangguang, to see the outside world. He was eventually admitted to South China University of Technology in Guangzhou.</p><p>Now, He XPeng has extended this concept to the education of children. As long as their lives and health are not seriously threatened, children can take risks and explore something.</p><p>When one of his sons was two years old, he was particularly naughty, full of curiosity about pressure cookers, and his little hands always wanted to touch them. Generally, parents will stop it immediately, but He XPeng has a different way to deal with it. He grabbed his son's hand and carefully let him touch it. As a result, his son was burned and cried, and he never dared to touch the pressure cooker again.</p><p>These personality traits were also highlighted in his entrepreneurial process.</p><p>In June 2014, UC browser founded by He XPeng was sold at a high price of US $4 billion<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>The acquisition brought him huge wealth. US $4 billion was also the highest merger and acquisition price of China's Internet at that time.</p><p>Subsequently, He XPeng joined Ali and successively served as the president of Ali Mobile Business Group, the chairman of Ali Games, and the president of Tudou. Many people think that He XPeng will be a rich man with peace of mind, and there will be no such product manager in the entrepreneurial world. But in the year of \"cashing out\", He XPeng began to plan to re-start new energy vehicles, and invested in XPeng vehicles, which were also called \"Orange Travel Zhidong\" at that time.</p><p>\"When I first saw smart electric vehicles, I immediately thought of the jump from the Symbian era or JAVA era to the smart era.\" He XPeng said.</p><p>The UC browser founded by He XPeng spans the two eras of Symbian and Intelligence. This experience makes him naturally sensitive to the new changes in the traditional industry of automobiles. He felt that when this jump just happened, people in the industry were often reluctant to believe this change because they were vested interests.</p><p>It was also during the sleeping period of this kind of industry that he felt that he had a chance to tear a hole.</p><p>\"People from the Internet industry are particularly daring to think, which is a characteristic of our long-term work.\" He XPeng said.</p><p>In 2015, He XPeng went to an auto show. At that time, what left a deep impression on him was that 75 new cars were released in one day at that auto show, which made him deeply feel that the cruelty of competition in the automobile industry is far greater than that in the Internet industry.</p><p>\"Imagine, if the Internet industry releases 75 UC browsers a day, will there be pressure? The competition of automobiles is global competition, technological competition, brand and word-of-mouth competition.\" He XPeng said.</p><p>This makes He XPeng, who is born to love adventure, more determined to \"go into the water\".</p><p><b>\"Talk to people with your head up\"</b></p><p>At that time, the success of UC browser, why did XPeng accumulate a lot of contacts and wealth, and when he decided to devote himself to smart cars, how to divert these resources to new projects and convince the old guys that he could still bear hardships and start a business was an urgent problem for He XPeng to solve. His answer is, first all in himself.</p><p>\"My friends say that if you dare to all in, then we can support you,\" He XPeng said. \"If I didn't go all out, work nine to five every day, and spend my money on financial management, how can others believe me?\"</p><p>After joining the entrepreneurship of smart cars, learning from traditional cars has become an important job for him. He often tells colleagues and friends about a mistake that ordinary people tend to make: using limited information and correct logic, drawing wrong conclusions. The reason for this is that the information obtained is incomplete, which he thinks is a very terrible thing.</p><p>\"In the old field, you may already be a doctoral student, but in the new field, you are still in kindergarten. Would you like to squat down and talk to others with your head tilted up?\" XPeng He said.</p><p>He XPeng has always looked up at the automobile industry. He believes that mobile phones are already a great combination of software and hardware, but a four-or five-meter-long car is a more complex combination of software and hardware with larger imagination space.</p><p>When he decided to devote himself wholeheartedly to XPeng Motors, his early partner, Yu Yongfu, the current CEO of Alibaba Local Life, and chairman of AutoNavi Group, once gave him a suggestion, and it was the only suggestion-let him find someone who can check and balance his own people. Because He XPeng has too many ideas, but not all of them are correct.</p><p>Nowadays, there are many people in XPeng Motors' top management who can check and balance him, and their management structure has also attracted much attention from the outside world. In an exclusive interview with \"Caiyue You\", He XPeng also talked about the checks and balances and cooperation of management for the first time.</p><p>At present, there are four people standing at the top of XPeng's automobile power: He XPeng, Xia Heng, Gu Hongdi, and He Tao. He XPeng is from the Internet industry, Xia Heng and He Tao are from the automotive technology field, and Gu Hongdi is from the financial field. All four of them are very young. He XPeng and Gu Hongdi are born in the 1970s, while Xia Heng and He Tao are born in the 1980s.</p><p>He XPeng bluntly said that in the first year and a half of their cooperation, there were many challenges. Facing the same thing, the four people had different strategies and solutions because they came from different fields.</p><p>For example, at that time, someone suggested setting up a forum within the company to allow employees to post and make suggestions at will. This is a common thing in Internet companies, and He XPeng thought it was enough to do it.</p><p>But this is a \"shouldn't\" thing in the automobile industry. Unlike Internet companies, car companies have a large number of partners and suppliers, and there are many types of jobs. The sharp questions raised by the employees on the forum not only fail to promote the solution of the problem, but sometimes lead to misunderstanding because the information sources are too diverse, which makes the solution of the problem stagnate.</p><p>As a result, the four had a heated argument over this matter. Since then, they have adjusted the forum to solve some important and intense issues through other channels, instead of letting ten or twenty thousand people have invalid discussions in the forum.</p><p>\"Many times, the founders of enterprises are too familiar with an industry, or the perspective is too unified. Right is the same right, and wrong may be the same wrong.\" He XPeng said. \"Balance can make enterprises reach an organic and compromising point.\"</p><p><b>Say no to \"involution\"</b></p><p>2020 is the peak period of He XPeng's second venture. In August of this year, XPeng Motor landed on the New York Stock Exchange, with a market value of US $14.9 billion that day. This is a highlight moment that he couldn't match when he founded UC Browser.</p><p>Today, the stock price of XPeng Motor has tripled, and He XPeng's net worth has risen. According to real-time data from Forbes, he is now worth US $8 billion, surpassing Nio Motor Li Bin's US $4.8 billion, becoming the richest man of the new Chinese car-making force.</p><p><img src=\"https://static.tigerbbs.com/7d75beebe9dfbb968a731155d3840ae8\" tg-width=\"877\" tg-height=\"1904\" referrerpolicy=\"no-referrer\"/></p><p>However, after its listing, the pace of XPeng Motors has not slowed down. The release of P7 and P5 allowed them to own family cars and coupes in the price range of 200,000-400,000, while the appearance of G9 at last year's guangzhou auto show completed the gap of medium and large SUV models. They have also taken an important step in internationalization, taking Norway as the bridgehead and opening up the European market; Aerial vehicles were also developed to prepare for the \"air battle\" a few years later.</p><p>\"For us, listing can get more support from the capital market, which allows us to do some medium and long-term thinking.\" He XPeng said.</p><p>He XPeng is a long-termist. When he explained the name \"XPeng\" to \"Cai Yue You\", he said that \"small\" represents an initial intention and always young. When it comes to enterprise management, he will always remind himself to move forward, without big enterprise diseases and being unable to satisfy the status quo; \"Peng\" is a big bird, which can be turned into \"Kun\" and fly very high and far.</p><p>All along, the outside world has been quite criticizing the name \"XPeng\". Some people think that the name is rather earthy, while others think that it is too arrogant to name vehicles with their own names. After all, world-renowned car companies such as Honda and Mercedes-Benz will use the founder's name. He XPeng laughed to \"Wealth About You\": \"You will feel dirty when you read the first 100 times, but you won't read the 101st time.\"</p><p>He XPeng also has an expectation that in another 10 or 20 years, brands named after Chinese names will go global.</p><p>He XPeng has always been full of respect for Toyota, because they have trained a large number of engineers who can work in Toyota all their lives. This is particularly precious among today's Chinese start-ups. In an exclusive interview with \"Caiyue You\", He XPeng also bluntly stated that he hopes to create a lifelong service environment and mechanism for employees. For this reason, they have formulated a set of option incentive policies, hoping that employees will look further.</p><p>\"In the past 20 or 30 years, Chinese cars have grown a lot, but to be honest, Autobots are very hard. Before the new car-making forces came in, the treatment of Autobots was relatively low.\" He XPeng said.</p><p>At the same time, He XPeng also expects the company to continue to toss and innovate, such as letting employees change to different positions and engage in different jobs, which will give employees more opportunities so that they can work in the company for a long time.</p><p>He XPeng doesn't like the word \"involution\". Previously, the age of 35 was an insurmountable hurdle for many employees of Internet companies, and the news of dismissing employees over the age of 35 frequently caused heated discussions.</p><p>He XPeng said that he welcomed middle and senior talents over 35 years old to XPeng Motors. At present, XPeng also has employees over 60 years old. He believes that the automobile industry needs experienced and technically capable people, and these people are often older.</p><p>\"I don't pay much attention to whether the body is young, we pay attention to whether the mind is young,\" said XPeng He</p><p>Today's XPeng Automobile has gone through seven years. Compared with those well-known century-old car companies, it is still just a boy. However, their employees have exceeded 10,000, and in the next three years, XPeng plans to expand its employee scale to 50,000.</p><p>A question that He XPeng often thinks about is, if he is asked to be a screw, can the company be stronger? He believes that when an enterprise is small, it attaches importance to people. When an enterprise becomes big, it should attach importance to organization and system. Everyone, including him, is a part of the organizational system.</p><p><b>Product Manager Building Car Road</b></p><p>In 2021, the entry of Xiaomi and Huawei will make the smart car track full of unknowns.</p><p>Before Lei Jun decided to make a car, he made a long phone call to He XPeng, and exchanged views on the method of cutting in, capital situation, industry changes, etc.</p><p>He XPeng recognized Lei Jun's thinking and encouraged Lei Jun to build cars together. He believes that for many companies, the window for car manufacturing has been closed, but for companies like Huawei and Xiaomi, the window is still open, mainly because the accumulation of these companies over the years can be quickly converted into value.</p><p>For example, the technological accumulation of these companies can allow them to skip the pure electric vehicle link and directly enter the competition of smart cars. Before producing smart cars, XPeng had explored pure electric vehicles for a long time and gone through detours.</p><p>In He XPeng's consciousness, elitism is a concept that cannot be bypassed. In addition to his high admiration for elite companies such as Xiaomi and Huawei, the concept of product design is also full of elitism.</p><p>Years of product manager career have made him firmly believe that an ultimate product is unlikely to be completed by too many people, because different people will have different demands. If these different demands are finally balanced, then the product will be difficult to achieve the ultimate. The height of a product depends more on the talent height of the product manager.</p><p>He also believes that excellent product ideas come from views on the future, but many product managers will fall into the dilemma of blind people touching elephants and design based on existing consciousness. He believes that excellent product managers should have the ability to think by leaps and bounds.</p><p>In September 2020, the flying car released by XPeng Motors at the Beijing Auto Show was very \"leapfrog\", which once caused ridicule from the outside world-before the competition on the ground was over, they were thinking about \"air combat\".</p><p>At the press conference on November 18, 2021, He XPeng once again publicly announced that he has recruited many talents in the flight industry, clarified the overall framework of mass-produced flying cars in 2024, and hoped to build a flying car in a few years. A great flying car.</p><p>As a matter of fact, He XPeng, who loves to \"fly\", is still on the \"ground\" more often. During the two entrepreneurial processes, he needs to solve various problems.</p><p>Nowadays, \"chip shortage\" is a major problem facing the automobile industry. On November 18, after accepting an exclusive interview with \"Caiyue You\", He XPeng went to a conference about chips.</p><p>In 2021, the delivery volume of XPeng vehicles will surpass that of Nio, and it will monopolize the delivery rankings of new car-making forces. This is partly due to their management of the supply chain, which is less affected by the \"chip shortage\" impact. Nio Motors, on the other hand, was once suspended due to chip problems.</p><p>\"We have discussed it internally many times. In the short term, the problem of chip shortage will be difficult to solve. We expect this problem to be solved in three or four quarters.\" He XPeng said.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e9d0f16131bea4ece2670f7550b214b","relate_stocks":{"BK4099":"汽车制造商","BK1119":"汽车制造商","BK4526":"热门中概股","BK1588":"回港中概股","BK4505":"高瓴资本持仓","BK1587":"次新股","XPEV":"小鹏汽车","BK4555":"新能源车","BK1575":"同股不同权","09868":"小鹏汽车-W","BK4551":"寇图资本持仓","BK1539":"汽车股"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105926115","content_text":"跻身国内顶级企业家群，何小鹏还是没有学会迎合观众期待值去“讲故事”。2021年年底，何小鹏在接受腾讯新闻《财约你》专访时，大多数时间都沉浸在自己所畅想的出行世界中。在专访的最后，《财约你》向他提出了几个快问题，他在速答时出现了卡壳，即便问题都比较轻松愉快。“加入小鹏汽车四年，你最快乐的时刻是什么时候？”《财约你》问。“想不起来了。”何小鹏答。“80后创业者中，王兴、张一鸣、黄铮你最喜欢哪一个？”《财约你》再问。“不好说。”想了一秒钟，何小鹏依然没有给出答案。这是他一贯的风格。一方面，小鹏汽车高调推出“飞行器”，将产品布局在空中，让外界觉得这家造车新势力的掌门人轻狂、张扬；另一方面，造车4年，何小鹏始终没有摆脱产品经理的性格痕迹，内敛、谨慎，拿不准的宁可回避也不乱说。2021年是小鹏汽车逆袭的一年，交付量达到98155辆，超越了蔚来和理想，造车新势力稳固多年的“蔚小理”格局变成了“小蔚理”。不过，随着华为、小米的入局，传统车企的强势发力，智能汽车这个行业硝烟再起，谁能在这个战场里走得更稳、更远，一个重要的因素就是创始人的性格和格局。“一个企业的基因，很多是来自创始人身上的基因，如果创始人节约，那企业也会节约。”何小鹏说，“我是技术出身，追求技术上的创新、产品上的差异，也比较务实，我希望这些能够成为一种符号、心智和文化，走向全球。”用自己的名字做品牌让何小鹏与小鹏汽车深度捆绑，一荣俱荣，一辱俱辱。何小鹏向《财约你》表示，这代表了他的态度和责任。2021年的8月和11月，《财约你》在北京、广州两次深度对话何小鹏，试图挖掘他内心深处的性格特征和商业逻辑。二次创业的冒险家骨子里，何小鹏就是一个爱折腾、爱冒险的人，这与他腼腆的长相、低调的发型形成鲜明对比。出生于湖北黄石一个普通家庭的何小鹏，高考前没有出过省，没有吃过麦当劳，更没有坐过飞机。当时，他有一个信念，读万卷书不如行万里路，在高考填报志愿时，唯一的目标就是去省外上学，尤其是北上广这样的发达城市，去看看外面的世界。最终他被位于广州的华南理工大学录取。如今，何小鹏把这种理念延伸到对孩子的教育上，只要生命健康不被严重威胁，孩子们就可以去冒险探索一些事情。他的一个儿子在两岁时，特别调皮，对高压锅充满了好奇心，小手总是想去摸一下。一般的家长会马上制止，但何小鹏却有不同的处理方法。他抓着儿子的手，小心翼翼地让儿子摸了一下，结果儿子被烫哭了，再也不敢去摸高压锅了。这些性格特征在他的创业过程中也被彰显无遗。2014年6月，何小鹏创办的UC浏览器以40亿美元的高价被阿里巴巴收购，为他带来了巨额财富。40亿美元也是当时中国互联网最高的并购价。随后，何小鹏加入阿里，先后担任阿里移动事业群总裁、阿里游戏董事长、土豆总裁，很多人都认为何小鹏将会安心地做一个富豪，创业江湖中将不会再有这个产品经理的身影。但就在“套现”当年，何小鹏开始谋划新能源汽车的再创业，并投资了当时还叫“橙行智动”的小鹏汽车。“当我第一次看到智能电动车的时候，我马上想到的是从塞班时代或JAVA时代向智能时代的跳跃。”何小鹏说。何小鹏创办的UC浏览器正是跨越了塞班和智能两个时代，这经历让他对汽车这种个传统行业的新变化有着天然的敏感。他觉得，在这种跳跃刚刚发生时，行业里的人由于是既得利益者，往往不愿意相信这种变化。也正是在这种行业的沉睡期，让他觉得自己有机会可以撕开一个口子。“互联网行业出来的人，都特别敢想，这是我们长期工作形成的一个特点。”何小鹏说。2015年，何小鹏曾经去参加了一次车展。当时，给他留下深刻印象的是，那次车展一天发布了75款新车，这让他深感汽车行业竞争的残酷要远远大于互联网行业。“试想，如果互联网行业一天发布75个UC浏览器，会不会有压力？汽车的竞争是全球的竞争、科技的竞争、品牌和口碑的竞争。”何小鹏说。这让天生爱冒险的何小鹏更有“下水”一试的决心。“仰着头跟人说话”彼时，UC浏览器的成功为何小鹏积攒了大量的人脉和财富，决定投身智能汽车时，如何将这些资源引流到新项目上，让老伙计们相信他依然能够吃苦创业，是何小鹏急需解决的问题。他的答案是，首先自己all in。“朋友们说，既然你敢all in，那我们就可以支持你。”何小鹏说，“如果我没有全力以赴，每天朝九晚五，把自己的钱拿去理财，那别人怎么会相信我。”在投身智能汽车的创业之后，向传统汽车学习，成为了他的一个重要工作。他经常向同事、朋友讲述一个普通人容易犯的错误：用有限的信息，在正确的逻辑下，得出错误的结论。之所以这样，就是因为获得的信息不全面，他认为这是一件非常可怕的事情。“在原来的领域，你可能已经是博士生了，但是在新领域，你还是在上幼儿园，那你愿不愿意蹲下来，仰着头跟别人说话呢？”何小鹏说。何小鹏一直仰视着汽车这个行业，他认为，手机已经是一个了不起的软硬件结合体，但四五米长的汽车，是一个想象空间更大、更复杂的软硬件结合体。而在决定全身心投入到小鹏汽车时，他早期的合伙人、现任阿里本地生活CEO、高德集团董事长俞永福曾给了他一个建议，并且是唯一的建议——让他找一个可以制衡自己的人。因为何小鹏的想法太多，但不一定都正确。如今，小鹏汽车高层内部就有不少可以制衡他的人，他们的管理架构也备受外界关注。在接受《财约你》专访时，何小鹏也首次讲述了管理层的制衡和合作。目前，站在小鹏汽车权力顶层的有四个人：何小鹏、夏珩、顾宏地、何涛。何小鹏来自互联网行业，夏珩、何涛来自汽车技术领域，顾宏地则来自金融领域。四个人都很年轻，何小鹏、顾宏地是70后，夏珩、何涛则是80后。何小鹏直言，在他们合作的前一年半中，挑战很多，面对同一件事情，由于来自不同的领域，四人的策略、解决方案也不同。比如当时，有人建议在公司内部设立一个论坛，允许员工随意发帖，提建议，这在互联网公司里是一件常见的事情，何小鹏就觉得这件事做就行了。但这在汽车行业里是一件“不应该”的事情。与互联网公司不同，车企有大量的合作伙伴、供应商，岗位的类型也很多。论坛上的员工们提出的尖锐问题，不但不能促进问题的解决，有时还会因为信息来源过于多元造成误解，从而使得问题解决方案停滞不前。于是，四人在这件事上进行了激烈的争吵。此后，他们对论坛进行了调整，对于一些重要的、激烈的问题通过其他渠道进行解决，而不是在论坛里让一两万人进行无效讨论。“很多时候，企业创始人对一个行业太熟悉了，或者角度太统一，对是一样的对，错也可能是一样的错。”何小鹏说，“平衡能使企业达到一个有机、妥协的点。”对“内卷”说不2020年是何小鹏二次创业的高峰期。这一年的8月，小鹏汽车登陆纽交所，当天市值就高达149亿美金。这是他在创办UC浏览器时都比不上的高光时刻。如今，小鹏汽车的股价涨了三倍，何小鹏身家水涨船高。根据福布斯实时数据，他如今的身价达到80亿美元，超过了蔚来汽车李斌48亿美元，成为了中国造车新势力的首富。不过，上市之后，小鹏汽车的脚步没有放慢，P7、P5的发布让他们在20万-40万的价格区间拥有了家用轿车、轿跑，而G9在去年广州车展的亮相则补全了中大型SUV车型的空白。他们在国际化上也迈出了重要一步，以挪威为桥头堡，开拓了欧洲市场；还研制了空中飞行器，为几年后的“空战”做准备。“上市对于我们来说，可以获得资本市场更多的支持，这让我们能够做一些中长线的思考。”何小鹏说。何小鹏是一个长期主义者，他在向《财约你》解释“小鹏”这个名字的时候说，“小”代表一种初心，代表永远年轻，放在企业管理上，就会时刻提醒自己要向前，不能有大企业病，不能满足现状；“鹏”则是一种大鸟，可以化成“鲲”，飞得很高、很远。而一直以来，外界都对“小鹏”这个名字颇有非议，有觉得名字比较土的，也有认为用自己的名字来命名车辆太狂妄的，毕竟本田、奔驰这些世界知名车企才会用创始人名字。何小鹏则向《财约你》笑谈：“你读前100遍的时候会有土的感觉，但是第101遍就不会。”何小鹏也有个期待，就是再过10年、20年，用中国名字命名的品牌会走向世界。何小鹏一直都对丰田这家企业充满敬意，因为他们培养了大量的、可以一生都在丰田工作的工程师。这在今天的中国创业企业当中显得尤为珍贵。在接受《财约你》专访时，何小鹏也直言，希望能够为员工创造一个终生服务的环境和机制，为此他们制定了一套期权激励政策，就是希望员工们将目光放得更远。“过去二三十年，中国的汽车成长了很多，但说实话，汽车人是挺辛苦的，在造车新势力没有进来之前，汽车人的待遇也比较低。”何小鹏说。同时，何小鹏也期待公司能够继续折腾、创新，比如让员工换到不同的岗位，从事不同的工作，这会让员工获得更多的机会，从而能够在公司长时间干下去。何小鹏不喜欢“内卷”这个词。在此前，35岁曾是很多互联网公司员工难以逾越的坎，辞退35岁以上员工的新闻也频频引发热议。何小鹏则表示，他欢迎35岁以上的中高级段位的人才来到小鹏汽车，目前小鹏也有60岁以上的员工。他认为，汽车这个行业需要那些有经验的、技术实力强的人，而这些人的年龄往往都比较大。“我不太关注身体是否年轻，我们关注的是心态是否年轻。”何小鹏说如今的小鹏汽车已经走过了7个年头，与那些知名的百年车企相比，还只是个毛头小子。不过，他们的员工已经超过了万人，未来三年，小鹏还计划将员工规模扩大到5万人。何小鹏经常思考的一个问题是，如果让他做一个螺丝钉，公司是否还能做得更强？他认为，当企业很小的时候，重视的是人，当企业做大的时候，就要重视组织和体系，包括他在内，每个人都是组织体系的一部分。产品经理造车路2021年，小米、华为的入局，让智能汽车的赛道充满未知数。雷军在决定做汽车之前，曾经给何小鹏打过一个很长时间的电话，交流了切入的方法、资本的情况、行业的变革等。何小鹏对雷军的思考很认可，并鼓励雷军一起造车。他认为，对于很多企业来说，造车的窗口已经关闭，但对于华为、小米这样的企业来说，窗口仍然敞开着，主要是因为这些企业多年的积累可以迅速转换成价值。比如，这些企业在技术上的积累，可以让他们跳过纯电动车这个环节，直接进入到智能汽车的竞争中。而小鹏汽车在生产智能汽车之前，曾探索了很久纯电动车，走过了弯路。在何小鹏的意识中，精英主义是一个绕不过去的概念。他除了对小米、华为这样的精英企业倍加推崇之外，在产品设计的理念上也充满了精英主义的影子。多年的产品经理生涯，让他坚信，一个极致的产品不太可能由太多的人共同参与完成，因为不同的人会有不同的诉求，如果最后平衡了这些不同的诉求，那么产品就很难达到极致。一个产品的高度更依赖产品经理的天赋高度。他还认为，优秀的产品理念来自于对未来的看法，但是很多产品经理会陷入到盲人摸象的困境之中，基于已有的意识去设计。他认为，优秀的产品经理应该有跳跃性的思考能力。2020年9月，小鹏汽车在北京车展发布的飞行汽车器就很有“跳跃性”，这一度引起了外界对他们的嘲讽——地面上的竞争还没打完，就想着“空战”了。在2021年11月18日的发布会上，何小鹏再次公开对外宣布，已经招募了很多飞行行业的人才，明确将在2024年量产飞行汽车的整体框架，并希望用几年的时间打造一款很棒的飞行汽车。事实上，爱“飞翔”的何小鹏更多时候还是在“地上”，两次创业过程中，他需要解决各种各样的难题。时下，“芯片荒”是汽车行业面临的一大难题。11月18日，在接受《财约你》专访完之后，何小鹏就去参加了一个有关芯片的会议。在2021年，小鹏汽车的交付量超过了蔚来，独占造车新势力的交付排行榜榜首，这在一定程度上正是得益于他们对供应链的管理，较少受到“芯片荒”的影响。而蔚来汽车，则一度因为芯片问题，陷入停产状态。“我们内部讨论过很多次，短期内，芯片荒的问题很难解决，我们期待三四个季度后，这个问题能够得到解决吧。”何小鹏说。","news_type":1,"symbols_score_info":{"XPEV":0.9,"09868":0.9}},"isVote":1,"tweetType":1,"viewCount":2529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100383243,"gmtCreate":1619580784982,"gmtModify":1704726298833,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"New 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href=\"https://ttm.financial/S/1P2R.SI\">$1P2R.SI(1P2R.SI)$</a>??????","text":"$1P2R.SI(1P2R.SI)$??????","images":[{"img":"https://community-static.tradeup.com/news/684c9e9c90b32ea9aa1401b1e3b07a64","width":"1125","height":"2488"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9060074939","isVote":1,"tweetType":1,"viewCount":3046,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9036198727,"gmtCreate":1647007985680,"gmtModify":1676534186721,"author":{"id":"3582187509385859","authorId":"3582187509385859","name":"Schemppho","avatar":"https://community-static.tradeup.com/news/4b8b45305de74218d5dd4689c73a09d4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582187509385859","idStr":"3582187509385859"},"themes":[],"htmlText":"G","listText":"G","text":"G","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9036198727","repostId":"1197145766","repostType":4,"repost":{"id":"1197145766","kind":"news","pubTimestamp":1646963483,"share":"https://ttm.financial/m/news/1197145766?lang=en_US&edition=fundamental","pubTime":"2022-03-11 09:51","market":"us","language":"zh","title":"In times of high inflation, this is the type of asset Buffett is buying","url":"https://stock-news.laohu8.com/highlight/detail?id=1197145766","media":"Wind资讯","summary":"投资者担心即将出现滞涨风险，对全球经济前景感到担忧，避险情绪有所升温。","content":"<p><html><head></head><body>The U.S. Labor Department released January data showing that the consumer price index (CPI) rose 7.9% in February compared with the same period in 2021. Now, the inflation rate in the United States is at its highest point in nearly 40 years. Investors are worried about impending stagflation risks and worried about the global economic outlook, and risk aversion has heated up. The S&P 500 and Dow Jones Industrials remain in correction territory, while the Nasdaq is in a bear market.</p><p><img src=\"https://static.tigerbbs.com/e11858a9622f59c3239fcccc351b5768\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>U.S. inflation hit a four-year high in February, with the consumer price index rising 7.9% year-on-year. Gasoline prices are at record levels, hurting consumer budgets. Analysts have warned that persistent inflation and slowing economic growth, also known as stagflation, could be seen in the U.S. and Europe, with higher energy prices eating into household spending on other items.</p><p>\"COVID-19 pandemic will mark the dividing line between the deflationary forces of the past 30 to 40 years and the recovery of inflation over the next 20 years,\" said former Bank of England governor CharlesGoodhart, who predicted that inflation in advanced economies would stabilize at 3% to 4% around the end of 2022 and remain there for several decades, compared to about 1.5% in COVID-19 pandemic in the previous decade.</p><p>\"The Fed has an extremely tough challenge, and it has to really walk a tightrope between inflation and pushing us into a recession,\" said Ed Keon, chief investment strategist at PGIM Quantitative Solutions.</p><p>These numbers will undoubtedly leave many investors wondering: How can I protect myself from inflation? Generally, many experts recommend investing wisely to hedge against inflation. But what kind of companies should investors buy? Here's what Warren Buffett has said over the past few decades.</p><p>At the 2015 shareholder meeting, the Berkshire Hathaway chairman and CEO noted: \"In times of inflation, the best businesses are those that you buy once and don't have to continue to make capital investments afterwards,\" while you should avoid \"any business that requires significant capital investments\". He stressed that real estate does well during inflation, you can buy it once and then appreciate too; At the same time, he noted that industries such as utilities and railroads aren't good investments in times of inflation.</p><p>At a shareholder meeting in 2009, Buffett pointed out that the first thing you can do to fight inflation is to invest in yourself and your skills. After this, he said, \"The second best protection is to run a good business,\" meaning that even if the company has to raise prices, there is still demand for its products.</p><p>In a 1981 letter to shareholders, Buffett made this as clear as ever, in which he wrote that a company that can withstand an inflationary environment must have two characteristics:</p><p><b>(1) the ability to raise prices easily (even when product demand is flat and capacity is underutilized) without fear of significant loss of market share or unit production;</b></p><p><b>(2) A small amount of additional capital investment is needed to accommodate large growth in firm size (usually generated more by inflation than real growth).</b></p><p>It is worth noting that Buffett prefers the tried and tested method to choose individual stocks: index funds. In 2021, at a shareholder meeting, Buffett declared that \"I don't think the average person can pick stocks,\" noting that he recommended holding S&P 500 index funds for the long term.</p><p></body></html></p>","source":"wind","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>In times of high inflation, this is the type of asset Buffett is buying</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIn times of high inflation, this is the type of asset Buffett is buying\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wind资讯</strong><span class=\"h-time small\">2022-03-11 09:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The U.S. Labor Department released January data showing that the consumer price index (CPI) rose 7.9% in February compared with the same period in 2021. Now, the inflation rate in the United States is at its highest point in nearly 40 years. Investors are worried about impending stagflation risks and worried about the global economic outlook, and risk aversion has heated up. The S&P 500 and Dow Jones Industrials remain in correction territory, while the Nasdaq is in a bear market.</p><p><img src=\"https://static.tigerbbs.com/e11858a9622f59c3239fcccc351b5768\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"/></p><p>U.S. inflation hit a four-year high in February, with the consumer price index rising 7.9% year-on-year. Gasoline prices are at record levels, hurting consumer budgets. Analysts have warned that persistent inflation and slowing economic growth, also known as stagflation, could be seen in the U.S. and Europe, with higher energy prices eating into household spending on other items.</p><p>\"COVID-19 pandemic will mark the dividing line between the deflationary forces of the past 30 to 40 years and the recovery of inflation over the next 20 years,\" said former Bank of England governor CharlesGoodhart, who predicted that inflation in advanced economies would stabilize at 3% to 4% around the end of 2022 and remain there for several decades, compared to about 1.5% in COVID-19 pandemic in the previous decade.</p><p>\"The Fed has an extremely tough challenge, and it has to really walk a tightrope between inflation and pushing us into a recession,\" said Ed Keon, chief investment strategist at PGIM Quantitative Solutions.</p><p>These numbers will undoubtedly leave many investors wondering: How can I protect myself from inflation? Generally, many experts recommend investing wisely to hedge against inflation. But what kind of companies should investors buy? Here's what Warren Buffett has said over the past few decades.</p><p>At the 2015 shareholder meeting, the Berkshire Hathaway chairman and CEO noted: \"In times of inflation, the best businesses are those that you buy once and don't have to continue to make capital investments afterwards,\" while you should avoid \"any business that requires significant capital investments\". He stressed that real estate does well during inflation, you can buy it once and then appreciate too; At the same time, he noted that industries such as utilities and railroads aren't good investments in times of inflation.</p><p>At a shareholder meeting in 2009, Buffett pointed out that the first thing you can do to fight inflation is to invest in yourself and your skills. After this, he said, \"The second best protection is to run a good business,\" meaning that even if the company has to raise prices, there is still demand for its products.</p><p>In a 1981 letter to shareholders, Buffett made this as clear as ever, in which he wrote that a company that can withstand an inflationary environment must have two characteristics:</p><p><b>(1) the ability to raise prices easily (even when product demand is flat and capacity is underutilized) without fear of significant loss of market share or unit production;</b></p><p><b>(2) A small amount of additional capital investment is needed to accommodate large growth in firm size (usually generated more by inflation than real growth).</b></p><p>It is worth noting that Buffett prefers the tried and tested method to choose individual stocks: index funds. In 2021, at a shareholder meeting, Buffett declared that \"I don't think the average person can pick stocks,\" noting that he recommended holding S&P 500 index funds for the long term.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://t.wind.com.cn/mobwftweb/M/news.html?show=wft&shareCode=ae1d15d7e346f65bac3a873b5fa3cc2d&code=D0E31498A0C5&newsopenstyle=original&lan=cn&device=ios&fontsize=normal&related=true&version=22.1.0#/3E7BD334C3DCE52E5087F3BD55F83EE2\">Wind资讯</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9beffeecb928009bf6287e307899ffe3","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://t.wind.com.cn/mobwftweb/M/news.html?show=wft&shareCode=ae1d15d7e346f65bac3a873b5fa3cc2d&code=D0E31498A0C5&newsopenstyle=original&lan=cn&device=ios&fontsize=normal&related=true&version=22.1.0#/3E7BD334C3DCE52E5087F3BD55F83EE2","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197145766","content_text":"美国劳工部(Labor Department)公布1月数据显示，与2021年同期相比，2月份消费者价格指数(CPI)上涨了7.9%。现在，美国的通货膨胀率达到了近40年来的最高点。投资者担心即将出现滞涨风险，对全球经济前景感到担忧，避险情绪有所升温。标准普尔 500 指数和道琼斯工业指数仍处于修正区域，而纳斯达克指数则处于熊市。美国通胀在 2 月份达到了 4 年来的新高，消费者价格指数同比上涨 7.9%。汽油价格处于创纪录水平，损害了消费者的预算。分析师警告称，美国和欧洲可能会出现持续通胀和经济增长放缓（也称为滞胀），能源价格上涨会侵蚀家庭在其他项目上的支出。前英国央行行长查尔斯·古德哈特（CharlesGoodhart）表示：“新冠疫情将标志着过去30到40年的通缩力量与未来20年的通胀复苏之间的分界线。”他预测，发达经济体的通胀率将在2022年底左右稳定在3%至4%的水平，并在几十年内保持在该水平，而新冠疫情前十年约为1.5%。PGIM Quantitative Solutions 首席投资策略师 Ed Keon 表示：“美联储面临着极其艰巨的挑战，它必须在通胀和将我们推入衰退之间真正走钢丝。”这些数字无疑会让许多投资者产生疑问：我该如何保护自己不受通胀影响？一般来说，许多专家建议明智地投资以对冲通货膨胀。但投资者应该买入哪类公司呢？下面是沃伦·巴菲特在过去几十年里说过的话。在2015年的股东大会上，这位伯克希尔·哈撒韦公司的董事长兼首席执行官指出:“在通胀时期，最好的业务是那些你买了一次，之后就不必继续进行资本投资的业务，”同时你应该避免“任何需要大量资本投资的业务”。他强调，房地产在通货膨胀期间表现良好，你可以购买一次，然后也会升值；与此同时，他指出，公用事业和铁路等行业在通胀时期并不是好的投资。在2009年的一次股东大会上，巴菲特指出，你能做的抵御通胀的第一件事就是投资你自己和你的技能。在此之后，他说，“第二好的保护措施是经营好生意”，这意味着即使公司不得不提高价格，其产品仍有需求。在1981年的一封致股东的信中，巴菲特像以往一样清楚地阐明了这一点，他在信中写道，能够抵御通胀环境的公司必须具备两个特征：(1)能够很容易地提高价格(即使在产品需求持平和产能未被充分利用的情况下)，而不用担心市场份额或单位产量的显著损失；(2)只需要少量的额外资本投资，就能适应企业规模的大幅增长(通常更多地是由通胀而非实际增长产生的)。值得注意的是，比起选择个股，巴菲特更青睐采用久经考验的方法：指数基金。2021年，在一次股东大会上，巴菲特宣称“我不认为一般人可以挑选股票”，并指出，他建议长期持有标准普尔500指数基金。","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}