kuro123 personal page - To The Moon

kuro123

No personal profile

5Follow

1Followers

0Topic

0Badge

2022-09-12

.

Sorry, the original content has been removed

2022-09-08

.

Sorry, the original content has been removed

2022-09-05

.

Tencent Holdings repurchased 1.1 million shares today at a total cost of approximately HK $351 million

2022-09-04

.

Sorry, the original content has been removed

2022-09-03

.

A grain of ash on Nvidia's head

2022-09-02

.

Which U.S. stocks do asset management giants favor in the second quarter amid the weakening market?

2022-09-01

.

Sorry, the original content has been removed

2022-09-01

.

Sorry, the original content has been removed

2022-08-31

$Grab Holdings(GRAB)$

2022-08-31

.

The winning rate of one lot of Biocyto-B is 50%, and the subscription of 14 lots is stable

2022-08-31

.

Sorry, the original content has been removed

2022-08-30

.

Sorry, the original content has been removed

2022-08-29

.

Sorry, the original content has been removed

2022-08-28

.

Ideal responds to the delayed delivery of L9: due to the delay in supply from the Sichuan range extender factory

2022-08-27

.

Sorry, the original content has been removed

2022-08-26

.

Powell hawkish statement: The magnitude of September rate hike depends on overall data

2022-08-23

.

Sorry, the original content has been removed

2022-08-23

.

Sorry, the original content has been removed

2022-08-23

.

The bull market is not over! Is a new wave of "hot" commodity market about to start?

2022-08-23

$标普500(.SPX)$

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"4116924152740332","uuid":"4116924152740332","gmtCreate":1653821075216,"gmtModify":1706620743722,"name":"kuro123","pinyin":"kuro123","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":5,"tweetSize":137,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":2,"name":"无畏虎","nameTw":"無畏虎","represent":"初生牛犊","factor":"发布3条非转发主帖,1条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"init","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.02.23","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.06.07","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":9932643991,"gmtCreate":1662941508413,"gmtModify":1676537166510,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9932643991","repostId":"2266330230","repostType":4,"isVote":1,"tweetType":1,"viewCount":2940,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938108131,"gmtCreate":1662569277423,"gmtModify":1676537090340,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938108131","repostId":"1155178178","repostType":4,"isVote":1,"tweetType":1,"viewCount":2549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9931988438,"gmtCreate":1662383039424,"gmtModify":1676537049135,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9931988438","repostId":"1188730327","repostType":4,"repost":{"id":"1188730327","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":1662370238,"share":"https://ttm.financial/m/news/1188730327?lang=en_US&edition=fundamental","pubTime":"2022-09-05 17:30","market":"hk","language":"zh","title":"Tencent Holdings repurchased 1.1 million shares today at a total cost of approximately HK $351 million","url":"https://stock-news.laohu8.com/highlight/detail?id=1188730327","media":"老虎资讯综合","summary":"腾讯控股：于9月5日回购110万股，回购价格为316.6-324港元，共耗资约3.51亿港元。","content":"<p><html><head></head><body><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>: On September 5, 1.1 million shares were repurchased at a repurchase price of HK $316.6-324, with a total cost of approximately HK $351 million.</p><p><img src=\"https://static.tigerbbs.com/a1ee177bdf306f991afb7d40f950e889\" tg-width=\"1576\" tg-height=\"484\" width=\"100%\" height=\"auto\"/></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>Tencent Holdings repurchased 1.1 million shares today at a total cost of approximately HK $351 million</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\">\nTencent Holdings repurchased 1.1 million shares today at a total cost of approximately HK $351 million\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\">2022-09-05 17:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>: On September 5, 1.1 million shares were repurchased at a repurchase price of HK $316.6-324, with a total cost of approximately HK $351 million.</p><p><img src=\"https://static.tigerbbs.com/a1ee177bdf306f991afb7d40f950e889\" tg-width=\"1576\" tg-height=\"484\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"BK1531":"手游股","BK1516":"腾讯概念","00700":"腾讯控股","BK1095":"互动媒体与服务","BK1608":"元宇宙概念","BK1502":"双十一","TCEHY":"腾讯控股ADR","BK1589":"北水核心资产","BK1517":"云办公","BK1521":"挪威政府全球养老基金持仓","BK1526":"科网股","BK1591":"就地过年概念","BK1586":"云计算"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188730327","content_text":"腾讯控股：于9月5日回购110万股，回购价格为316.6-324港元，共耗资约3.51亿港元。","news_type":1,"symbols_score_info":{"TCEHY":0.9,"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":2569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9933837468,"gmtCreate":1662258404955,"gmtModify":1676537026007,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9933837468","repostId":"1183237993","repostType":4,"isVote":1,"tweetType":1,"viewCount":2346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9933922402,"gmtCreate":1662205594406,"gmtModify":1676537018091,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9933922402","repostId":"1101174405","repostType":4,"repost":{"id":"1101174405","kind":"news","pubTimestamp":1662163894,"share":"https://ttm.financial/m/news/1101174405?lang=en_US&edition=fundamental","pubTime":"2022-09-03 08:11","market":"us","language":"zh","title":"A grain of ash on Nvidia's head","url":"https://stock-news.laohu8.com/highlight/detail?id=1101174405","media":"远川研究所","summary":"刚刚开幕的世界人工智能大会上，已经没有人关心今年到底马斯克会语出惊人，还是会BAT三巨头重聚斗法，所有交头接耳的观众就关心一件事——英伟达的A100、H100显卡，真的要断供了吗？一旦英伟达和AMD的","content":"<p><html><head></head><body>At the just-opened World Artificial Intelligence Conference, no one cared whether Musk would speak amazingly this year, or whether the BAT Big Three would reunite to fight. All the whispering audiences cared about one thing-<b>Are Nvidia's A100 and H100 graphics cards really going to be cut off?</b>？</p><p><b>Once the supply of GPUs from Nvidia and AMD is cut off, it is tantamount to dragging the bottom of the pot for the development of the artificial intelligence industry</b>--Any real AI research institution has A100 and H100.</p><p><b>Nvidia has not had an easy time in the past year</b>, in the second quarter of 2022, Nvidia handed over a shocking financial report, and its revenue fell by 19% month-on-month. The game business, which supports the main revenue, fell by 44% month-on-month and 33% year-on-year.</p><p>The game of the largest business suffered a thunderstorm, the data center of the second largest business suffered a drain from the bottom of the United States, and Nvidia's stock price also continued to bottom out. Compared with the high point at the end of last year, Nvidia's stock price has now been cut by nearly half, with a market value of only US $377.4 billion.</p><p>Looking back a year ago, the story about Nvidia is still another set of narratives:</p><p>In April 2021, Nvidia held a \"metaverse Conference\". In the middle of the speech, CEO Huang Renxun was secretly replaced with a digital person, and almost no one noticed it. Three months later, 14 seconds of \"stealing the sky and changing the day\" was made public, and Nvidia successfully sealed the \"metaverse Giant\".</p><p>There is no doubt that in the technology industry, \"metaverse\" is the three most discussed words this year. Taking advantage of the trend, Nvidia's stock price has been booming all the way. In November, Nvidia's market value exceeded US $800 billion, making it the world's most valuable semiconductor company.</p><p>As metaverse's infrastructure, the computing power support of AI outlets, and the core productivity of virtual currency miners, Nvidia's performance this year was equally impressive: total revenue was US $26.914 billion, a year-on-year increase of 61%.</p><p><img src=\"https://static.tigerbbs.com/04aac5b05b0637eff403d850e750a843\" tg-width=\"540\" tg-height=\"311\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>14 seconds that are difficult to distinguish between true and false</p><p><b>In less than a year, what happened to Nvidia?</b></p><p><b>01. Rise: Computing power reverses life and death</b></p><p>To understand Nvidia's current situation, we must start with the relationship between Nvidia and computing power.</p><p>In Silicon Valley, few entrepreneurs can be as stubborn as Nvidia founder Huang Renxun, and his belief is simple:<b>Computing power is power</b>。</p><p>Under this belief, in 2010, Nvidia released a new generation graphics card-GTX480 with explosive performance and explosive heat. Someone has done a test. The working temperature of the GTX480 with full horsepower often soars to sixty or seventy degrees. If you are not careful, you will go to Yellow Springs with other components.</p><p>So what about that? Huang Renxun \"I want me to feel\", the greater the computing power, the better.</p><p>A year later, Nvidia released its latest graphics card, the GTX590. Soon after a foreign media ran the GTX590 at its maximum power, a blue smoke curled up from the circuit board, and the title of \"nuclear bomb\" of Nvidia graphics card has spread like wildfire since then.</p><p>These are just appetizers. When Nvidia introduced its successor GTX690, angry netizens directly added it to the encyclopedia entry of \"Aircraft Carrier Killer\". After watching it, the host of Gansu Satellite TV believed it and wrote it into the oral broadcast draft of the military program:</p><p>“<b>Especially the improved model equipped with GTX690 core graphics card, which can destroy an aircraft carrier battle group with one shot!</b>”</p><p>After the program was broadcast, Huang Renxun, a Silicon Valley madman, was once again crowned the \"Father of Two Bombs\" title.</p><p><img src=\"https://static.tigerbbs.com/ac73479b1566947e38e4854795412516\" tg-width=\"580\" tg-height=\"1085\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It is false to blow up the aircraft carrier cluster with super computing power, but the dream of blowing up Nvidia's mobile terminal is real:</p><p>In 2011, with the decline of traditional PCs and the rise of smart phones, the trend of becoming a new generation of super terminals has gradually become clear: Nvidia, which is eager to show its talents in the field of smart phones, launched the world's first quad-core processor Tegra 3, which improved its performance by 3 times compared with the previous generation.</p><p>Propaganda is beautiful, isn't it? HTC, eager to reverse the decline of its smartphone business, believed it and chose to suffocate Nvidia's dream: in the latest flagship phone, it radically used Tegra 3.</p><p>As a result, the skinny camel turned into a feverish camel. The serious fever problem caused by Tegra 3's violent accumulation of computing power has become the last straw that crushed the recovery of HTC smartphones. Nvidia's journey to pursue the dream of mobile terminal has also come to an end for the time being.</p><p>Huang Renxun's paranoia about computing power brought Nvidia into a dead end at that time: the spontaneous combustion of graphics cards and the losing wave of smartphones once caused Nvidia's stock price to fall by nearly half.</p><p><b>02. Reversal: When computing power truly becomes power</b></p><p>But failure is also calculating power, and success is also calculating power. At a desperate juncture, Huang Renxun's belief that \"computing power changes the world\" was unexpectedly proved in the field of AI.</p><p>Before 2012, AI had experienced two waves, both of which were unsustainable due to objective conditions. Simply put, the limitation of the first time is insufficient computing power, and the second time is too high cost.</p><p>Because before, AI recognition mostly relied on CPU.</p><p>CPU is suitable for complex general serial tasks, with up to 16 built-in powerful ALUs (arithmetic logic units). Translate it, this is equivalent to a college student who can do calculus, with a good brain but low efficiency. In 2010, AI pioneer Andrew Ng had to spend 16,000 CPU processors in order to make AI programs identify a cat, which is equivalent to 40 or 50 Internet cafes to fully operate at the same time, costing about 1 million dollars.</p><p>The GPU is suitable for simple and specific parallel tasks. It has thousands of simple ALUs built in, which is approximately equal to hundreds of primary school students who can only do addition, subtraction, multiplication and division. The brain is a bit poor, but it wins because of its high efficiency.</p><p>So to sum up, handling complex logical tasks and serving as the commander's work is exclusive to the CPU; But GPU is most suitable for simple and repetitive things that accumulate computing power violently.</p><p>Where do you need to build up computing power violently? In the past, the only recognized application scenarios for GPUs were games. But Huang Renxun's belief is that computing power can change the world: in order to better utilize GPU computing power, Nvidia also launched a tool software called CUDA to lower the threshold of GPU programming, and invested 6 years regardless of cost.</p><p>This made AI scholars finally realize the power of GPU computing power.</p><p>For scenarios such as AI deep learning, \"100 primary school students' brains\" are enough-this means that GPUs with high computing power are obviously more suitable. After Andrew Ng replaced the AI program of that year with GPU, he was surprised to find that only 12 were needed.</p><p>This major discovery, combined with software breakthroughs, detonated the third wave of AI development in the world, and also pushed Nvidia, which has both an AI software and hardware ecosystem, to the top of the mountain: Today, the world's largest Amazon public cloud and BAT's AI research, the bottom layer It is inseparable from the technical support of Nvidia GPU.</p><p><b>Wherever there is AI, everyone mentions Nvidia</b>。 As Huang Renxun firmly believes, computing power has really changed the world this time.</p><p>Coincidentally, cryptocurrencies that emerged at the same time were also highly dependent on GPU computing power. With the blessing of many outlets, graphics cards are \"hard to find\" all the year round, and Huang Renxun, the \"boss\", has become a veritable \"godfather of graphics cards\". The \"believers\" of the graphics card once recorded these glorious deeds in the form of Historical Records, and finally commented:</p><p>\"There is Renxun first and then there is Heaven, and the graphics card is abusing the gods.\"</p><p><b>03. Coronation: GPU devour everything</b></p><p>At the GTC conference in 2019, Huang Renxun once again publicly mentioned his belief in computing power: \"Even if Moore's Law comes to an end, GPUs will be omnipotent.\" Finally, in 2021, his belief has been generally recognized by the secondary market. Sister Wood and other investment giants have increased their investment successively, and the secondary market has been triumphing all the way, and the market value has tripled in a year.</p><p>This mainly comes from two increases and two new narratives.</p><p>The growth comes from two main businesses, namely games and data centers.</p><p>Demand for gaming increased due to extended stay-at-home hours caused by the pandemic. According to Newzoo's statistics, the global gaming market grew by 1.4% in 2021. If you need to run 3A-level games on the PC side, a discrete graphics card is an essential tool. At present, there are almost only two choices, Nvidia and AMD. Among them, Nvidia has an absolute advantage in market share-in the third quarter of the same year, Nvidia took 83% of the market.</p><p>However, in addition to the game house, there is a larger group snapping up game graphics cards.</p><p>In 2021, the cryptocurrency market will usher in a new round of bull market: Bitcoin has more than 2 times, Ethereum has 4 times, and LUNA, which later triggered an earthquake in the currency circle, has risen more than 80 times. The market boom has spawned a large number of \"crypto miners\". Mining is a means of producing cryptocurrency, which relies on powerful GPU computing power. The mining machine made of top-of-the-line game graphics card has become a veritable \"gold shovel\", and computing power has also become synonymous with \"wealth\".</p><p><img src=\"https://static.tigerbbs.com/5532287cd6f926f8872e91441dd9483a\" tg-width=\"843\" tg-height=\"431\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Bitcoin soars</p><p>The resulting surge in demand has led to an increase in the volume and price of Nvidia's graphics cards, and the game business has also taken off, creating revenue of US $3.2 billion in the third quarter of 2021, and a year-on-year growth of 42%.</p><p>At the same time, the global data center industry also ushered in spring: the scale reached US $76.56 billion, a year-on-year increase of 13.5%, and the growth rate will remain above 10% in the next few years. [5] Data centers are the product of the wave of AI development, which means that Nvidia, which owns both CUDA and GPU, has won again. Among the world's top 500 supercomputers, 342 are served by Nvidia.</p><p>This trend was also quickly reflected in Nvidia's financial report: In 2021, data center revenue increased by 124% year-on-year, and surpassed games in the first quarter of the following year to become a new revenue pillar.</p><p>While the financial report performance is rising gratifying, the two new narratives brought by Nvidia have also whetted the appetite of the secondary market.</p><p>The first to bear the brunt was one of the biggest outlets of the year-metaverse.</p><p>At the end of 2021, Huang Renxun demonstrated a new generation of tooling software Omniverse, calling it \"metaverse for engineers.\" In the future envisioned by Nvidia, everything in the real universe can be installed into the virtual world with the help of Omniverse and GPU computing power, providing people with a key to metaverse. On the day of the release, Nvidia's stock price reached a record high.</p><p><img src=\"https://static.tigerbbs.com/3b14b53638f1068c41b8107020948235\" tg-width=\"600\" tg-height=\"341\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Another new narrative comes from ARM: In 2021, Nvidia is steadily advancing matters related to the acquisition of ARM from Japan's SoftBank.</p><p>ARM is a technology patent provider in the field of mobile chips. More than 90% of smartphones use ARM architecture. Once the acquisition is completed, Huang Renxun has the opportunity to unify the PC and mobile markets, and the only legend of Nvidia will be left in the world.</p><p>Everything seems to be moving towards<b>Old immortal computing power, boundless magic power</b>The direction of.</p><p><b>04. Shui Inverse: Has the super power of computing power disappeared?</b></p><p>Computing power is power, and computing power determines the ability of AI. After more than ten years, not only Nvidia's believers understand, but also the U.S. government understands:</p><p>In this quarter alone, Nvidia's sales of these two chips exported to China have reached US $400 million. You know, in the latest fiscal quarter, Nvidia's total revenue was only US $6.7 billion, and he must not want to lose the Chinese market.</p><p><b>But Nvidia's water reversal is more than just that.</b></p><p>At the beginning of this year, before the dream of unifying the rivers and lakes had begun, Nvidia's ARM acquisition road suffered joint attacks from governments and global technology giants:</p><p>First, in 2021, the four technology giants Qualcomm, Microsoft, Intel, and Amazon formed an \"anti-Nvidia alliance\" to jointly provide monopoly evidence to regulatory agencies in various countries in an attempt to stop the acquisition.</p><p>Later, when Huang Renxun submitted acquisition applications to various countries, the global regulatory agencies responded exactly the same-delay. Among them, the reason given by the European Union is the most wonderful: because there is a summer vacation.</p><p>On February 8, 2022, Nvidia finally received a reply from the regulatory agencies of the United States, the United Kingdom and the European Union. Unfortunately, the answer was no. The reason was that it was worried about the possible serious monopoly in the global semiconductor industry. By then, the neutrality of ARM will disappear.</p><p>For Huang Renxun<b>, the failure of ARM acquisition was just the beginning, and soon after, the graphics card speculation market also collapsed</b>。</p><p>In March 2021, CCTV sent reporters to \"undercover\" the digital market, exposing the path of graphics card profiteers to get rich. But a year later, when I revisited my old place, there was a completely opposite scene in front of me. Seeing the reporter who made an unannounced visit, the merchants in Huaqiangbei, Shenzhen, couldn't hide their grief, bluntly saying that they took the order at a high price, and now they will lose three or four thousand yuan for every video card they sell. At the most extreme moment, the graphics card dropped by 1,000 yuan a month.</p><p><img src=\"https://static.tigerbbs.com/302a2d8cf0eeb0cd244cef3ed5f58083\" tg-width=\"533\" tg-height=\"300\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In August this year, the RTX30 series graphics cards, which used to be \"hard to find a card\", have successfully broken, and the price of second-hand graphics cards on eBay has generally been halved.</p><p>Even so, there are still many voices calling for \"don't take over\"-there is still room for further bottoming out in prices. Wait for the party to shout the slogan \"If you don't buy it, I won't buy it, the graphics card will drop by 200 tomorrow\", while figuring out when the profiteers who hoarded goods at high prices last year will go to the rooftop to perform \"trapeze\".</p><p><img src=\"https://static.tigerbbs.com/42454d54a829cc393282f8a8629a717a\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In just one year, the demand for graphics cards has shrunk sharply. In the past, graphics cards with both volume and price rising suddenly became unsalable, which became the chief culprit of Nvidia's performance thunderstorm. In the second quarter, the revenue of the game business (graphics card) was only about US $6.7 billion, a year-on-year and quarter-on-quarter decrease of more than 30%. Affected by inventory problems, Nvidia's gross profit margin also fell to 43.7%, far lower than the previous forecast of 65.1%.</p><p>In just one year, the myth of GPU computing power suddenly lost its magic?</p><p><b>05. A grain of ash of the times falls on Nvidia's head</b></p><p>But unlike Nvidia's failures in the past, Huang Renxun didn't do anything wrong this time, but times have changed.</p><p>IC Insights, a market research company, has compiled a statistics: Since the 1990s, the rise and fall of the semiconductor industry has been almost highly bound to the trend of global GDP.</p><p>The logic behind it is not difficult to understand,<b>Only when people's pockets get bigger and bigger day by day will they care which one is faster, Nvidia 3090TI or AMD 6950XT</b>, game houses will switch to new computers for a better experience, crypto miners firmly believe that \"computing power is wealth\" are frantically hoarding graphics cards, even scholars have sufficient budgets to build data centers for research, multiple waves alternate, everyone Together, they pushed computing power to the altar.</p><p>But when the epidemic came along with inflation and rate hike, what we saw was that at the performance briefing in the second quarter, Nvidia Chief Financial Officer Kress blamed the thunderstorm on Azhai-the demand for game products suddenly slowed down. But the other half of what he didn't say explicitly was the world that he couldn't go back to:</p><p>Regarding the rights brought by computing power. The crash of cryptocurrency caused a large number of miners to announce \"surrender\" and suspend mining starting from June 7 because of the plummeting income. In 2022, at most, even Bitcoin will fall by two-thirds in half a year, and the computing power expenditure of miners can no longer cover the income of currency prices.</p><p>As for the beautiful imagination of computing power, although in the long run, the expansion of computing power will never end; However, in the short term, Nvidia will face Internet giants whose growth is slowing down around the world, as well as PC shipments that have been shrinking for many years. The sudden ban on U.S. data center exports has made Nvidia unspeakable.</p><p>What is left to Nvidia is a world that suspends growth and a world that begins to counter globalization.</p><p></body></html></p>","source":"lsy1585097861883","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>A grain of ash on Nvidia's head</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\">\nA grain of ash on Nvidia's head\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">远川研究所</strong><span class=\"h-time small\">2022-09-03 08:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>At the just-opened World Artificial Intelligence Conference, no one cared whether Musk would speak amazingly this year, or whether the BAT Big Three would reunite to fight. All the whispering audiences cared about one thing-<b>Are Nvidia's A100 and H100 graphics cards really going to be cut off?</b>？</p><p><b>Once the supply of GPUs from Nvidia and AMD is cut off, it is tantamount to dragging the bottom of the pot for the development of the artificial intelligence industry</b>--Any real AI research institution has A100 and H100.</p><p><b>Nvidia has not had an easy time in the past year</b>, in the second quarter of 2022, Nvidia handed over a shocking financial report, and its revenue fell by 19% month-on-month. The game business, which supports the main revenue, fell by 44% month-on-month and 33% year-on-year.</p><p>The game of the largest business suffered a thunderstorm, the data center of the second largest business suffered a drain from the bottom of the United States, and Nvidia's stock price also continued to bottom out. Compared with the high point at the end of last year, Nvidia's stock price has now been cut by nearly half, with a market value of only US $377.4 billion.</p><p>Looking back a year ago, the story about Nvidia is still another set of narratives:</p><p>In April 2021, Nvidia held a \"metaverse Conference\". In the middle of the speech, CEO Huang Renxun was secretly replaced with a digital person, and almost no one noticed it. Three months later, 14 seconds of \"stealing the sky and changing the day\" was made public, and Nvidia successfully sealed the \"metaverse Giant\".</p><p>There is no doubt that in the technology industry, \"metaverse\" is the three most discussed words this year. Taking advantage of the trend, Nvidia's stock price has been booming all the way. In November, Nvidia's market value exceeded US $800 billion, making it the world's most valuable semiconductor company.</p><p>As metaverse's infrastructure, the computing power support of AI outlets, and the core productivity of virtual currency miners, Nvidia's performance this year was equally impressive: total revenue was US $26.914 billion, a year-on-year increase of 61%.</p><p><img src=\"https://static.tigerbbs.com/04aac5b05b0637eff403d850e750a843\" tg-width=\"540\" tg-height=\"311\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>14 seconds that are difficult to distinguish between true and false</p><p><b>In less than a year, what happened to Nvidia?</b></p><p><b>01. Rise: Computing power reverses life and death</b></p><p>To understand Nvidia's current situation, we must start with the relationship between Nvidia and computing power.</p><p>In Silicon Valley, few entrepreneurs can be as stubborn as Nvidia founder Huang Renxun, and his belief is simple:<b>Computing power is power</b>。</p><p>Under this belief, in 2010, Nvidia released a new generation graphics card-GTX480 with explosive performance and explosive heat. Someone has done a test. The working temperature of the GTX480 with full horsepower often soars to sixty or seventy degrees. If you are not careful, you will go to Yellow Springs with other components.</p><p>So what about that? Huang Renxun \"I want me to feel\", the greater the computing power, the better.</p><p>A year later, Nvidia released its latest graphics card, the GTX590. Soon after a foreign media ran the GTX590 at its maximum power, a blue smoke curled up from the circuit board, and the title of \"nuclear bomb\" of Nvidia graphics card has spread like wildfire since then.</p><p>These are just appetizers. When Nvidia introduced its successor GTX690, angry netizens directly added it to the encyclopedia entry of \"Aircraft Carrier Killer\". After watching it, the host of Gansu Satellite TV believed it and wrote it into the oral broadcast draft of the military program:</p><p>“<b>Especially the improved model equipped with GTX690 core graphics card, which can destroy an aircraft carrier battle group with one shot!</b>”</p><p>After the program was broadcast, Huang Renxun, a Silicon Valley madman, was once again crowned the \"Father of Two Bombs\" title.</p><p><img src=\"https://static.tigerbbs.com/ac73479b1566947e38e4854795412516\" tg-width=\"580\" tg-height=\"1085\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It is false to blow up the aircraft carrier cluster with super computing power, but the dream of blowing up Nvidia's mobile terminal is real:</p><p>In 2011, with the decline of traditional PCs and the rise of smart phones, the trend of becoming a new generation of super terminals has gradually become clear: Nvidia, which is eager to show its talents in the field of smart phones, launched the world's first quad-core processor Tegra 3, which improved its performance by 3 times compared with the previous generation.</p><p>Propaganda is beautiful, isn't it? HTC, eager to reverse the decline of its smartphone business, believed it and chose to suffocate Nvidia's dream: in the latest flagship phone, it radically used Tegra 3.</p><p>As a result, the skinny camel turned into a feverish camel. The serious fever problem caused by Tegra 3's violent accumulation of computing power has become the last straw that crushed the recovery of HTC smartphones. Nvidia's journey to pursue the dream of mobile terminal has also come to an end for the time being.</p><p>Huang Renxun's paranoia about computing power brought Nvidia into a dead end at that time: the spontaneous combustion of graphics cards and the losing wave of smartphones once caused Nvidia's stock price to fall by nearly half.</p><p><b>02. Reversal: When computing power truly becomes power</b></p><p>But failure is also calculating power, and success is also calculating power. At a desperate juncture, Huang Renxun's belief that \"computing power changes the world\" was unexpectedly proved in the field of AI.</p><p>Before 2012, AI had experienced two waves, both of which were unsustainable due to objective conditions. Simply put, the limitation of the first time is insufficient computing power, and the second time is too high cost.</p><p>Because before, AI recognition mostly relied on CPU.</p><p>CPU is suitable for complex general serial tasks, with up to 16 built-in powerful ALUs (arithmetic logic units). Translate it, this is equivalent to a college student who can do calculus, with a good brain but low efficiency. In 2010, AI pioneer Andrew Ng had to spend 16,000 CPU processors in order to make AI programs identify a cat, which is equivalent to 40 or 50 Internet cafes to fully operate at the same time, costing about 1 million dollars.</p><p>The GPU is suitable for simple and specific parallel tasks. It has thousands of simple ALUs built in, which is approximately equal to hundreds of primary school students who can only do addition, subtraction, multiplication and division. The brain is a bit poor, but it wins because of its high efficiency.</p><p>So to sum up, handling complex logical tasks and serving as the commander's work is exclusive to the CPU; But GPU is most suitable for simple and repetitive things that accumulate computing power violently.</p><p>Where do you need to build up computing power violently? In the past, the only recognized application scenarios for GPUs were games. But Huang Renxun's belief is that computing power can change the world: in order to better utilize GPU computing power, Nvidia also launched a tool software called CUDA to lower the threshold of GPU programming, and invested 6 years regardless of cost.</p><p>This made AI scholars finally realize the power of GPU computing power.</p><p>For scenarios such as AI deep learning, \"100 primary school students' brains\" are enough-this means that GPUs with high computing power are obviously more suitable. After Andrew Ng replaced the AI program of that year with GPU, he was surprised to find that only 12 were needed.</p><p>This major discovery, combined with software breakthroughs, detonated the third wave of AI development in the world, and also pushed Nvidia, which has both an AI software and hardware ecosystem, to the top of the mountain: Today, the world's largest Amazon public cloud and BAT's AI research, the bottom layer It is inseparable from the technical support of Nvidia GPU.</p><p><b>Wherever there is AI, everyone mentions Nvidia</b>。 As Huang Renxun firmly believes, computing power has really changed the world this time.</p><p>Coincidentally, cryptocurrencies that emerged at the same time were also highly dependent on GPU computing power. With the blessing of many outlets, graphics cards are \"hard to find\" all the year round, and Huang Renxun, the \"boss\", has become a veritable \"godfather of graphics cards\". The \"believers\" of the graphics card once recorded these glorious deeds in the form of Historical Records, and finally commented:</p><p>\"There is Renxun first and then there is Heaven, and the graphics card is abusing the gods.\"</p><p><b>03. Coronation: GPU devour everything</b></p><p>At the GTC conference in 2019, Huang Renxun once again publicly mentioned his belief in computing power: \"Even if Moore's Law comes to an end, GPUs will be omnipotent.\" Finally, in 2021, his belief has been generally recognized by the secondary market. Sister Wood and other investment giants have increased their investment successively, and the secondary market has been triumphing all the way, and the market value has tripled in a year.</p><p>This mainly comes from two increases and two new narratives.</p><p>The growth comes from two main businesses, namely games and data centers.</p><p>Demand for gaming increased due to extended stay-at-home hours caused by the pandemic. According to Newzoo's statistics, the global gaming market grew by 1.4% in 2021. If you need to run 3A-level games on the PC side, a discrete graphics card is an essential tool. At present, there are almost only two choices, Nvidia and AMD. Among them, Nvidia has an absolute advantage in market share-in the third quarter of the same year, Nvidia took 83% of the market.</p><p>However, in addition to the game house, there is a larger group snapping up game graphics cards.</p><p>In 2021, the cryptocurrency market will usher in a new round of bull market: Bitcoin has more than 2 times, Ethereum has 4 times, and LUNA, which later triggered an earthquake in the currency circle, has risen more than 80 times. The market boom has spawned a large number of \"crypto miners\". Mining is a means of producing cryptocurrency, which relies on powerful GPU computing power. The mining machine made of top-of-the-line game graphics card has become a veritable \"gold shovel\", and computing power has also become synonymous with \"wealth\".</p><p><img src=\"https://static.tigerbbs.com/5532287cd6f926f8872e91441dd9483a\" tg-width=\"843\" tg-height=\"431\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Bitcoin soars</p><p>The resulting surge in demand has led to an increase in the volume and price of Nvidia's graphics cards, and the game business has also taken off, creating revenue of US $3.2 billion in the third quarter of 2021, and a year-on-year growth of 42%.</p><p>At the same time, the global data center industry also ushered in spring: the scale reached US $76.56 billion, a year-on-year increase of 13.5%, and the growth rate will remain above 10% in the next few years. [5] Data centers are the product of the wave of AI development, which means that Nvidia, which owns both CUDA and GPU, has won again. Among the world's top 500 supercomputers, 342 are served by Nvidia.</p><p>This trend was also quickly reflected in Nvidia's financial report: In 2021, data center revenue increased by 124% year-on-year, and surpassed games in the first quarter of the following year to become a new revenue pillar.</p><p>While the financial report performance is rising gratifying, the two new narratives brought by Nvidia have also whetted the appetite of the secondary market.</p><p>The first to bear the brunt was one of the biggest outlets of the year-metaverse.</p><p>At the end of 2021, Huang Renxun demonstrated a new generation of tooling software Omniverse, calling it \"metaverse for engineers.\" In the future envisioned by Nvidia, everything in the real universe can be installed into the virtual world with the help of Omniverse and GPU computing power, providing people with a key to metaverse. On the day of the release, Nvidia's stock price reached a record high.</p><p><img src=\"https://static.tigerbbs.com/3b14b53638f1068c41b8107020948235\" tg-width=\"600\" tg-height=\"341\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Another new narrative comes from ARM: In 2021, Nvidia is steadily advancing matters related to the acquisition of ARM from Japan's SoftBank.</p><p>ARM is a technology patent provider in the field of mobile chips. More than 90% of smartphones use ARM architecture. Once the acquisition is completed, Huang Renxun has the opportunity to unify the PC and mobile markets, and the only legend of Nvidia will be left in the world.</p><p>Everything seems to be moving towards<b>Old immortal computing power, boundless magic power</b>The direction of.</p><p><b>04. Shui Inverse: Has the super power of computing power disappeared?</b></p><p>Computing power is power, and computing power determines the ability of AI. After more than ten years, not only Nvidia's believers understand, but also the U.S. government understands:</p><p>In this quarter alone, Nvidia's sales of these two chips exported to China have reached US $400 million. You know, in the latest fiscal quarter, Nvidia's total revenue was only US $6.7 billion, and he must not want to lose the Chinese market.</p><p><b>But Nvidia's water reversal is more than just that.</b></p><p>At the beginning of this year, before the dream of unifying the rivers and lakes had begun, Nvidia's ARM acquisition road suffered joint attacks from governments and global technology giants:</p><p>First, in 2021, the four technology giants Qualcomm, Microsoft, Intel, and Amazon formed an \"anti-Nvidia alliance\" to jointly provide monopoly evidence to regulatory agencies in various countries in an attempt to stop the acquisition.</p><p>Later, when Huang Renxun submitted acquisition applications to various countries, the global regulatory agencies responded exactly the same-delay. Among them, the reason given by the European Union is the most wonderful: because there is a summer vacation.</p><p>On February 8, 2022, Nvidia finally received a reply from the regulatory agencies of the United States, the United Kingdom and the European Union. Unfortunately, the answer was no. The reason was that it was worried about the possible serious monopoly in the global semiconductor industry. By then, the neutrality of ARM will disappear.</p><p>For Huang Renxun<b>, the failure of ARM acquisition was just the beginning, and soon after, the graphics card speculation market also collapsed</b>。</p><p>In March 2021, CCTV sent reporters to \"undercover\" the digital market, exposing the path of graphics card profiteers to get rich. But a year later, when I revisited my old place, there was a completely opposite scene in front of me. Seeing the reporter who made an unannounced visit, the merchants in Huaqiangbei, Shenzhen, couldn't hide their grief, bluntly saying that they took the order at a high price, and now they will lose three or four thousand yuan for every video card they sell. At the most extreme moment, the graphics card dropped by 1,000 yuan a month.</p><p><img src=\"https://static.tigerbbs.com/302a2d8cf0eeb0cd244cef3ed5f58083\" tg-width=\"533\" tg-height=\"300\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In August this year, the RTX30 series graphics cards, which used to be \"hard to find a card\", have successfully broken, and the price of second-hand graphics cards on eBay has generally been halved.</p><p>Even so, there are still many voices calling for \"don't take over\"-there is still room for further bottoming out in prices. Wait for the party to shout the slogan \"If you don't buy it, I won't buy it, the graphics card will drop by 200 tomorrow\", while figuring out when the profiteers who hoarded goods at high prices last year will go to the rooftop to perform \"trapeze\".</p><p><img src=\"https://static.tigerbbs.com/42454d54a829cc393282f8a8629a717a\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In just one year, the demand for graphics cards has shrunk sharply. In the past, graphics cards with both volume and price rising suddenly became unsalable, which became the chief culprit of Nvidia's performance thunderstorm. In the second quarter, the revenue of the game business (graphics card) was only about US $6.7 billion, a year-on-year and quarter-on-quarter decrease of more than 30%. Affected by inventory problems, Nvidia's gross profit margin also fell to 43.7%, far lower than the previous forecast of 65.1%.</p><p>In just one year, the myth of GPU computing power suddenly lost its magic?</p><p><b>05. A grain of ash of the times falls on Nvidia's head</b></p><p>But unlike Nvidia's failures in the past, Huang Renxun didn't do anything wrong this time, but times have changed.</p><p>IC Insights, a market research company, has compiled a statistics: Since the 1990s, the rise and fall of the semiconductor industry has been almost highly bound to the trend of global GDP.</p><p>The logic behind it is not difficult to understand,<b>Only when people's pockets get bigger and bigger day by day will they care which one is faster, Nvidia 3090TI or AMD 6950XT</b>, game houses will switch to new computers for a better experience, crypto miners firmly believe that \"computing power is wealth\" are frantically hoarding graphics cards, even scholars have sufficient budgets to build data centers for research, multiple waves alternate, everyone Together, they pushed computing power to the altar.</p><p>But when the epidemic came along with inflation and rate hike, what we saw was that at the performance briefing in the second quarter, Nvidia Chief Financial Officer Kress blamed the thunderstorm on Azhai-the demand for game products suddenly slowed down. But the other half of what he didn't say explicitly was the world that he couldn't go back to:</p><p>Regarding the rights brought by computing power. The crash of cryptocurrency caused a large number of miners to announce \"surrender\" and suspend mining starting from June 7 because of the plummeting income. In 2022, at most, even Bitcoin will fall by two-thirds in half a year, and the computing power expenditure of miners can no longer cover the income of currency prices.</p><p>As for the beautiful imagination of computing power, although in the long run, the expansion of computing power will never end; However, in the short term, Nvidia will face Internet giants whose growth is slowing down around the world, as well as PC shipments that have been shrinking for many years. The sudden ban on U.S. data center exports has made Nvidia unspeakable.</p><p>What is left to Nvidia is a world that suspends growth and a world that begins to counter globalization.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/IBQCC7No2YTvi5ArfwVg2Q\">远川研究所</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3f1c866c487eb9e101f73a62d4495ce9","relate_stocks":{"BK4567":"ESG概念","BK4550":"红杉资本持仓","BK4548":"巴美列捷福持仓","BK4141":"半导体产品","BK4534":"瑞士信贷持仓","BK4554":"元宇宙及AR概念","BK4503":"景林资产持仓","BK4581":"高盛持仓","BK4532":"文艺复兴科技持仓","BK4543":"AI","BK4533":"AQR资本管理(全球第二大对冲基金)","NVDA":"英伟达","BK4527":"明星科技股","BK4529":"IDC概念","BK4551":"寇图资本持仓","BK4549":"软银资本持仓","BK4579":"人工智能"},"source_url":"https://mp.weixin.qq.com/s/IBQCC7No2YTvi5ArfwVg2Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101174405","content_text":"刚刚开幕的世界人工智能大会上，已经没有人关心今年到底马斯克会语出惊人，还是会BAT三巨头重聚斗法，所有交头接耳的观众就关心一件事——英伟达的A100、H100显卡，真的要断供了吗？一旦英伟达和AMD的GPU被断供，无异于对人工智能产业发展的釜底抽薪——任何一个真正的AI研究机构，都有A100与H100的身影。最近一年里，英伟达的日子并不好过，2022年二季度，英伟达交出一份令人大跌眼镜的财报，营收环比下滑了19%。支撑起主要营收的游戏业务，更是环比下降44%，同比下降33%。第一大业务游戏暴雷，第二大业务数据中心遭遇美国釜底抽薪，英伟达的股价也持续探底。相比于去年年底的高点，英伟达的股价如今已腰斩近一半，市值仅剩3774亿美金。而回顾一年前，关于英伟达的故事，还是另一套叙事：2021年4月，英伟达召开了一场“元宇宙发布会”。演讲到一半，CEO黄仁勋被偷偷替换成了数字人，几乎无人察觉。三个月后14秒的“偷天换日”被公之于众，英伟达成功加封“元宇宙巨头”。毫无疑问，科技产业中，“元宇宙”是这一年被讨论最多的三个字。趁着风口，英伟达股价一路飘红。11月，英伟达市值突破8000亿美元，一跃成为全球市值最高的半导体企业。作为元宇宙的基建、AI风口的算力支撑、虚拟币矿工的核心生产力，这一年，英伟达的业绩同样亮眼：总营收为269.14亿美元，同比增长61%。真假难辨的14秒一年不到的时间，关于英伟达，到底发生了什么？01、崛起：算力逆转生死要读懂英伟达的当下，还要从英伟达与算力的关系说起。在硅谷，很少有企业家能固执到英伟达创始人黄仁勋这般地步，而他的信仰很简单：算力就是权力。在这样的信念之下，2010年，英伟达发布了一款拥有爆炸级性能，同时也拥有爆炸级发热的新一代显卡——GTX480。有人做过测试，马力全开的GTX480，工作温度动辄飙升到六、七十度，一不小心，就带着其它元器件一同共赴黄泉。这又如何?黄仁勋“我要我觉得”，算力就是越大越好。一年后，英伟达发布最新显卡GTX590。一家国外媒体才将GTX590最大功率运行不久，一道青烟就从电路板上袅袅冒出，英伟达显卡“核弹”的称谓，自此不胫而走。这些只是前菜。当英伟达端出后继款GTX690时，怒其不争的网友直接将其加入到“航母杀手”的百科词条。甘肃卫视的主持人看完后信以为真，将其写到了军事节目的口播稿中：“特别是搭载GTX690核显卡的改进型号，一发即可摧毁一个航母战斗群！”节目播出后，硅谷狂人黄仁勋，再次被加冕“两弹元勋”桂冠。超大算力炸毁航母集群是假的，但是炸飞英伟达的移动端梦想是真的：2011年，传统PC式微，智能机崛起，成为新一代超级终端的趋势已经逐渐明朗：急于在智能机领域大展身手的英伟达推出了全球首个四核处理器Tegra 3，相比前代性能提升了3倍。宣传很美好对不对？急于逆转智能手机业务颓势的HTC信了，选择为英伟达的梦想窒息一把：在最新的旗舰机中，激进地用上了Tegra 3。结果瘦死的骆驼，变成了发烧的骆驼。Tegra 3暴力堆砌算力换来的严重发热问题，成了压死HTC智能机复苏的最后一根稻草，英伟达的逐梦移动端之旅，也自此暂时画上了句号。黄仁勋对算力的偏执，把当时的英伟达带入了死胡同：显卡自燃与败走智能手机浪潮，一度让英伟达的股价跌去近一半。02、逆转：当算力真正成为权力但败也算力，成也算力。绝境关头，黄仁勋“算力改变世界”的信仰，意外在AI领域得到了佐证。2012年之前，AI曾经历过两轮浪潮，两次都因为客观条件制约而难以为继。简单来说，第一次的限制条件是算力不足，第二次则是成本过高。因为此前AI识别多仰赖CPU。CPU适合复杂的通用串行任务，内置最多16个强力ALU（算术逻辑单元），翻译一下，这相当于一个能做微积分的大学生，脑子好但效率偏低。2010年，AI先驱吴恩达为了让AI程序识别出一只猫，不得不花费了16000个CPU处理器，相当于四五十个网吧同时火力全开，花费成本大约100万美元。而GPU适合简单特定的并行任务，内置数千个简单ALU，约等于数百个只能做加减乘除的小学生，脑子差了点，但赢在效率高。所以总结一下就是，处理复杂的逻辑任务，担任指挥官的活儿，得CPU专属；但做简单重复、暴力堆砌算力的事情，GPU最合适不过。哪里需要暴力堆砌算力？过去，GPU公认的应用场景仅有游戏。但黄仁勋的信仰可是算力能改变世界：为了让GPU算力被更好的发挥，英伟达还推出了一款名为CUDA的工具软件，借此降低GPU编程门槛，并不计成本投入了6年。这让AI学者们最终意识到了GPU算力的强大。对AI深度学习等场景而言，“100个小学生大脑”已经够用——这意味着高算力的GPU明显更合适。吴恩达将当年的AI程序换成GPU后，惊讶地发现只需要12个。这一重大发现，结合软件突破，引爆了全球第三次AI发展浪潮，也把同时拥有AI软硬件生态的英伟达，彻底推向山巅：今天全球最大的亚马逊公有云、BAT的AI研究，底层都离不开英伟达GPU的技术支持。凡有AI处，无人不提英伟达。正如黄仁勋所坚信的那般，这回算力真的改变了世界。巧合的是，同时期兴起的加密货币同样高度依赖GPU算力。诸多风口加持之下，显卡常年“一卡难求”，“霸总”黄仁勋成为名副其实的“显卡教父”。显卡吧的“信众”们曾用《史记》的形式记录下这些光辉事迹，并在最后评价道：“先有仁勋后有天，显卡在手虐神仙。”03、加冕：GPU吞噬一切2019年的GTC大会上，黄仁勋又一次公开提及了他对算力的信仰：“就算摩尔定律走向终结，GPU也将无所不能。”终于在2021年，他的信仰得到了二级市场的普遍认可。木头姐等投资大牛先后加码，二级市场一路高歌猛进，市值一年翻3倍。这背后主要源自两个增长和两个全新叙事。增长来自两大主营业务，即游戏与数据中心。由于疫情导致的居家时间延长，游戏需求增加。据Newzoo的统计，2021年全球游戏市场增长了1.4%。如需运行PC端的3A级游戏，独立显卡是必备工具，当下几乎只有英伟达和AMD两个选择，其中英伟达在市占率上有着绝对优势——同年第三季度英伟达吃下了83%的市场。不过，游戏宅之外，还有一个更庞大的群体在抢购游戏显卡。2021年，加密货币市场迎来新一轮牛市：比特币涨了2倍多，以太坊4倍，而后来引发币圈地震的LUNA涨了超80倍。市场繁荣催生了大量“加密矿工”。挖矿是产出加密货币的手段，仰赖强大的GPU算力。由顶配游戏显卡制成的矿机，成为了名副其实的“淘金铲”，算力也成了“财富”的代名词。比特币暴涨由此带来的需求暴增，导致英伟达显卡量价齐升，游戏业务也顺势起飞，在2021年三季度创造了32亿美元的营收，以及42%的同比增长。同一时间，全球数据中心行业也迎来了春天：规模达到了765.6亿美元，同比增长13.5%，且未来数年增速仍将保持在10%以上。[5]数据中心是AI发展浪潮的产物，这意味着同时坐拥CUDA和GPU的英伟达又一次赢麻了。全球Top500的超级计算机中，用英伟达服务的就有342台。这一趋势也很快反映到英伟达财报中：2021年，数据中心营收同比增长了124%，并于次年第一季度超越游戏，成为新的营收支柱。财报业绩涨势喜人的同时，英伟达带来的两个新叙事，也让二级市场吊足了胃口。首当其冲的，便是当年最大的风口之一——元宇宙。2021年底，黄仁勋展示了新一代工具软件Omniverse，称其为“工程师的元宇宙”。在英伟达设想的未来中，凡是真实宇宙有的东西，都能借助Omniverse和GPU算力，装进虚拟世界，给人们提供了一把通往元宇宙的钥匙。发布当天，英伟达股价迎来历史新高。另一个新叙事则来自ARM：2021年，英伟达正稳步推进从日本软银手中收购ARM相关事宜。ARM是移动芯片领域的技术专利提供商，超九成智能手机都使用了ARM架构。一旦完成收购，黄仁勋有机会一统PC和移动市场，江湖从此将仅剩英伟达的传说。一切似乎都在朝着算力老仙，法力无边的方向进发。04、水逆：算力的超能力消失了吗？算力就是权力，算力决定AI的能力，经过十多年，不仅英伟达的信众明白了，美国政府也明白了：仅仅这个季度，英伟达向中国出口的这两款芯片的销售额，就已经达到4亿美元。要知道，最近一个财季，英伟达总营收仅有67亿美元，他一定不想失去中国市场。但英伟达的水逆，绝不仅仅如此。今年年初，一统江湖的美梦尚未开启，英伟达的ARM收购之路，就遭受到了来自各国政府以及全球科技巨头的联合狙击：先是2021年，高通、微软、英特尔、亚马逊四家科技巨头结成“反英伟达同盟”，共同向各国监管机构提供垄断证据，试图阻止收购案。再后来，黄仁勋给各个国家递交收购申请时，全球监管机构的反应如出一辙——拖。其中欧盟给出的理由最为奇葩：因为要放暑假。到了2022年2月8日，英伟达终于得到了美国、英国和欧盟三地监管机构的回复，可惜答案却是拒绝，理由是担忧全球半导体行业可能产生的严重垄断，届时，ARM的中立性将荡然无存。对黄仁勋来说，ARM收购失败只是个开始，不久后，显卡炒作市场也出现了崩塌。2021年3月，央视派出记者“卧底”数码市场，揭露了显卡奸商的暴富之路。可一年后故地重游，眼前却出现了一副截然相反的景象。见到暗访的记者，深圳华强北的商户难掩悲痛之情，直言在高价时接了盘，如今每卖一张显卡就要亏三四千元。最极端的时刻，显卡一个月跌1000元。今年8月，过去“一卡难求”的RTX30系显卡已成功破发，eBay上二手显卡的价格也普遍对半腰斩。即便如此，依旧有不少声音呼吁“别接盘”——价格仍有进一步探底的空间。等等党们一边高喊着“你不买我不买，显卡明天降二百”的口号，一边盘算着去年高价囤货的奸商何时走上天台表演“空中飞人”。仅仅一年时间，显卡需求急剧萎缩。过去量价齐升的显卡突然滞销，成为英伟达业绩暴雷的罪魁祸首。二季度游戏业务（显卡）的营收仅有67亿美元左右，同比、环比都下跌了超3成。受到库存问题影响，英伟达毛利率也跌至43.7%，远低于此前预测的65.1%。仅仅一年时间，GPU算力神话，突然失去了魔力？05、时代的一粒灰，落在英伟达的头上但和过去英伟达的失败不同，这一次黄仁勋并没有做错什么，只是时代变了。市场研究公司IC Insights统计过一份数据：从90年代开始，半导体产业的涨跌几乎和全球GDP走势高度绑定。背后的逻辑不难理解，只有当人们的腰包一天比一天鼓，才会在乎英伟达 3090TI和AMD 6950XT到底哪个更快，游戏宅才会为了更好的体验换台新电脑，加密矿工才坚信“算力即财富”疯狂囤入显卡，连学者都有充足的预算，搭建数据中心做研究，多股浪潮交替，所有人一同把算力推上了神坛。但是当疫情伴随着通胀与加息一同到来，我们看到的，则是二季度的业绩说明会上，英伟达首席财务官克雷斯将暴雷归咎于阿宅——游戏产品的需求突然放缓。但他没有明说的另外半句，则是那个已经回不去的世界：关于算力的带来的权利。加密货币的崩盘，使得6月7日开始，大批矿工因为收入暴跌，宣布“投降”暂停挖矿。2022年，最多时，就连比特币都在半年时间跌去三分之二，矿工的算力支出不再能覆盖币价的收益。而关于算力的美好想象，尽管长期来看，算力的扩张永无止境；然而短期内，英伟达要面对的则是全球范围内增长变慢的互联网巨头们，以及连续多年缩水的PC出货，突如其来的美国数据中心出口禁令更是让英伟达有苦说不出。留给英伟达的，是一个暂缓增长的世界，一个开始逆全球化的世界。","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":2566,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9939251438,"gmtCreate":1662122649625,"gmtModify":1676537002565,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939251438","repostId":"1103083207","repostType":4,"repost":{"id":"1103083207","kind":"news","pubTimestamp":1662019756,"share":"https://ttm.financial/m/news/1103083207?lang=en_US&edition=fundamental","pubTime":"2022-09-01 16:09","market":"us","language":"zh","title":"Which U.S. stocks do asset management giants favor in the second quarter amid the weakening market?","url":"https://stock-news.laohu8.com/highlight/detail?id=1103083207","media":"智通财经网","summary":"来看看这些“聪明钱”都买了什么。","content":"<p><html><head></head><body>Author: Zhuang Lijia</p><p>In the past two weeks, many asset management giants have published their respective second-quarter position reports (13F). This article will discuss including<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>, Bridgewater Fund and other 12 asset management giants' second-quarter position reports to take a look at what these \"smart money\" bought.</p><p>1. Under the weakening of the market, the market value of positions held by asset management giants has generally shrunk</p><p>Judging from the data released by various asset management giants, except<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>In addition, the total market value of the positions held by other asset management giants in the second quarter declined compared with the first quarter. Among them, the total market value of Tiger Global's positions in the second quarter, known as the \"technology stock hunter\", was close to \"halved\" from the previous quarter. Other asset management giants with better performance include: the total market value of Jinglin Asset's positions fell by less than 4% month-on-month, and the total market value of Bridgewater Fund's positions fell by less than 5% month-on-month.</p><p><img src=\"https://static.tigerbbs.com/2ad3d89fa9ff826b4410e58b5acf337b\" tg-width=\"945\" tg-height=\"399\" referrerpolicy=\"no-referrer\"/></p><p>The shrinking market value of the positions of asset management giants is basically consistent with the performance of the overall market. Data show that in the second quarter, the S&P 500 index fell 16.45%, while the Nasdaq index fell 22.44%.</p><p>2. Technology stocks are still favored</p><p>Although the trend of U.S. technology stocks in the second quarter was not good, the position reports of many asset management giants show that technology stocks are still their key positions.</p><p>Among the second quarter holdings of BlackRock, the world's largest asset manager, technology stocks accounted for the highest proportion, at 22.35%. The top five holdings are all technology stocks, followed by<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(AAPL.US),<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>(MSFT.US),<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>(AMZN.US), Alphabet (GOOGL.US) and<a href=\"https://laohu8.com/S/GOOG\">Google</a>(GOOG.US)<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA.US) with<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>(NVDA.US) are BlackRock's sixth and tenth largest holdings respectively.</p><p><img src=\"https://static.tigerbbs.com/7f577b5e43aca056f22ac2f0ae24f4c7\" tg-width=\"1294\" tg-height=\"680\" referrerpolicy=\"no-referrer\"/></p><p>Apple is also the largest holding of Buffett's Berkshire Hathaway, accounting for 42.20% of the portfolio. It is worth mentioning that Berkshire Hathaway also increased its holdings of about 3.8 million Apple shares in the third quarter. At the same time, Apple is also Invesco Group,<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>、<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley's second largest holding,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>The fourth largest holding stock.</p><p>In addition to Apple, Microsoft is also favored by asset management giants. Microsoft is JPMorgan Chase's top holding, and its holdings in the second quarter increased by 10% compared with the previous quarter. Invesco Group, Bank of America and Morgan Stanley all regard Microsoft as their largest holdings. Among them, Morgan Stanley significantly increased its holdings of Microsoft stock in the second quarter, an increase of 50% from the previous quarter. Goldman Sachs also increased its holdings in Microsoft by 13% in the second quarter, making Microsoft its third largest holding.</p><p>Among the top five holdings held by \"technology stock hunter\" Tiger Global in the second quarter, Microsoft and<a href=\"https://laohu8.com/S/META\">Meta Platforms</a>(META.US) ranked second and fifth respectively. It is worth mentioning that Tiger Global's position in Meta Platforms rose from tenth in the previous quarter to fifth, a significant increase of 15% from the number of positions held in the previous quarter. In addition, Tiger Global also opened a position in Alphabet.</p><p><img src=\"https://static.tigerbbs.com/53fedca5544b2bcd89d98b8d5233cf78\" tg-width=\"1335\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/></p><p>Bridgewater Fund's top five buying targets also include<a href=\"https://laohu8.com/S/MA\">MasterCard</a>(MA.US), Alphabet and Meta Platforms, three technology stocks, the fund also opened a long position in Amazon (AMZN.US) in the second quarter.</p><p>Although technology stocks generally suffered heavy blows in the second quarter, the strong rebound of U.S. stocks in July seems to prove the \"wise decision\" of asset management giants to increase their positions in technology stocks. Take Apple, which sits on the \"throne\" of technology stocks, as an example. In the case of poor overall performance of the market, Apple's stock price fell to a low of $128.86 on June 16, but on August 18, Apple's stock price rebounded about 34% from the June low to above $174, which is less than 5% short of the stock's all-time high of about $182 set in January this year.</p><p>However, after Federal Reserve Chairman Jerome Powell made hawkish remarks at the global central bank meeting in Jackson Hole, the \"head-on confrontation\" between technology stocks and U.S. bond yields may become more intense, which may lead to a sharp increase in technology stocks not long ago. Asset management companies are facing huge losses. Analysts believe that technology stocks sensitive to interest rates may sell off again in the future, as almost every sign indicates that Powell will stick to his tough stance given the high global prices of goods and services.</p><p>Soaring interest rates have increased funding costs for tech companies. That's not a problem for cash-flow-rich tech companies like Apple and Microsoft, though, and fundamentally sound tech stocks tend to have solid profitability, healthy balance sheets, and the ability to navigate deflationary trends. But for those unprofitable technology companies that are constantly burning money in pursuit of rapid growth, the risk has risen sharply.</p><p>3. Pharmaceutical, energy, and daily consumer stocks each have their own merits</p><p>In BlackRock's second-quarter position report, from the perspective of changes in position ratios, its top five buying targets include<a href=\"https://laohu8.com/S/UNH\">United Health</a>Johnson & Johnson (JNJ.US),<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>(MRK.US), Pfizer (PFE.US) four pharmaceutical stocks, and the other is an energy stock<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>(XOM.US).</p><p><img src=\"https://static.tigerbbs.com/f91529edbcdf724d3ec71ea03549b662\" tg-width=\"396\" tg-height=\"425\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>Also Bridgewater's second largest holding, the fund also significantly increased its holdings of CVS Health (CVS.US) in the second quarter. Morgan Stanley also increased its holdings of UnitedHealth and Johnson & Johnson in the second quarter.</p><p>JPMorgan Chase also prefers pharmaceutical stocks. Its top ten holdings include three pharmaceutical stocks: UnitedHealth, AbbVie (ABBV.US) and Bristol-Myers Squibb (BMY.US). Among them, the number of positions held by UnitedHealth is higher than that of the previous quarter. An increase of 20%, the number of positions held by AbbVie and Bristol-Myers Squibb also increased slightly from the previous quarter.</p><p><img src=\"https://static.tigerbbs.com/d9c76e02855a9d2091d0fe277347886c\" tg-width=\"1335\" tg-height=\"628\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BX\">Blackstone</a>It prefers energy stocks. Four of its top five holdings are energy stocks, namely Cheniere Energy (CQP.US), Energy Transfer (ET.US),<a href=\"https://laohu8.com/S/MPLX\">MPLX LP</a>(MPLX.US) and Enterprise Products (EPD.US).</p><p><img src=\"https://static.tigerbbs.com/1670c57df8eeabe788af2f0a29a9ea34\" tg-width=\"1333\" tg-height=\"320\" referrerpolicy=\"no-referrer\"/></p><p>Energy stocks that have received much attention this year<a href=\"https://laohu8.com/S/OXY\">Western Petroleum</a>(OXY.US) unsurprisingly became Berkshire Hathaway's largest buy target in the second quarter. Berkshire Hathaway has significantly increased its holdings of Occidental Petroleum this year and submitted an application to the Federal Energy Regulatory Commission to buy more Occidental Petroleum shares on July 11. Currently, Berkshire Hathaway owns 188.5 million shares of Occidental Petroleum, accounting for a shareholding ratio of 20.2%, exceeding the 20% consolidation threshold.</p><p>In addition to Occidental Petroleum, Berkshire Hathaway also significantly increased its holdings in the second quarter<a href=\"https://laohu8.com/S/CVX\">Chevron</a>(CVX.US), the number of holdings increased by 316% from the previous quarter, making the latter Berkshire Hathaway's fourth largest holding. Some market analysts believe that Buffett has always favored traditional oil stocks, and traditional energy is still a long-term rigid demand in the future. Especially after investment restrictions, leading companies have followed the logic of increasing concentration, financial data is improving, and the overall valuation level is also improving with the increase.</p><p>Daily consumer stocks captured the \"heart\" of Bridgewater Fund. Among the top ten holdings held by Bridgewater in the second quarter, there are as many as five daily consumer stocks, namely Procter & Gamble (PG.US), Coca-Cola (KO.US), PepsiCo (PEP.US), Costco (COST.US) and Walmart (WMT.US).</p><p><img src=\"https://static.tigerbbs.com/e39a4d9339453ef1453aee421b14e2a5\" tg-width=\"1295\" tg-height=\"676\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Which U.S. stocks do asset management giants favor in the second quarter amid the weakening market?</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\">\nWhich U.S. stocks do asset management giants favor in the second quarter amid the weakening market?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2022-09-01 16:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Zhuang Lijia</p><p>In the past two weeks, many asset management giants have published their respective second-quarter position reports (13F). This article will discuss including<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>, Bridgewater Fund and other 12 asset management giants' second-quarter position reports to take a look at what these \"smart money\" bought.</p><p>1. Under the weakening of the market, the market value of positions held by asset management giants has generally shrunk</p><p>Judging from the data released by various asset management giants, except<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>In addition, the total market value of the positions held by other asset management giants in the second quarter declined compared with the first quarter. Among them, the total market value of Tiger Global's positions in the second quarter, known as the \"technology stock hunter\", was close to \"halved\" from the previous quarter. Other asset management giants with better performance include: the total market value of Jinglin Asset's positions fell by less than 4% month-on-month, and the total market value of Bridgewater Fund's positions fell by less than 5% month-on-month.</p><p><img src=\"https://static.tigerbbs.com/2ad3d89fa9ff826b4410e58b5acf337b\" tg-width=\"945\" tg-height=\"399\" referrerpolicy=\"no-referrer\"/></p><p>The shrinking market value of the positions of asset management giants is basically consistent with the performance of the overall market. Data show that in the second quarter, the S&P 500 index fell 16.45%, while the Nasdaq index fell 22.44%.</p><p>2. Technology stocks are still favored</p><p>Although the trend of U.S. technology stocks in the second quarter was not good, the position reports of many asset management giants show that technology stocks are still their key positions.</p><p>Among the second quarter holdings of BlackRock, the world's largest asset manager, technology stocks accounted for the highest proportion, at 22.35%. The top five holdings are all technology stocks, followed by<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(AAPL.US),<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>(MSFT.US),<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>(AMZN.US), Alphabet (GOOGL.US) and<a href=\"https://laohu8.com/S/GOOG\">Google</a>(GOOG.US)<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA.US) with<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>(NVDA.US) are BlackRock's sixth and tenth largest holdings respectively.</p><p><img src=\"https://static.tigerbbs.com/7f577b5e43aca056f22ac2f0ae24f4c7\" tg-width=\"1294\" tg-height=\"680\" referrerpolicy=\"no-referrer\"/></p><p>Apple is also the largest holding of Buffett's Berkshire Hathaway, accounting for 42.20% of the portfolio. It is worth mentioning that Berkshire Hathaway also increased its holdings of about 3.8 million Apple shares in the third quarter. At the same time, Apple is also Invesco Group,<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>、<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley's second largest holding,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>The fourth largest holding stock.</p><p>In addition to Apple, Microsoft is also favored by asset management giants. Microsoft is JPMorgan Chase's top holding, and its holdings in the second quarter increased by 10% compared with the previous quarter. Invesco Group, Bank of America and Morgan Stanley all regard Microsoft as their largest holdings. Among them, Morgan Stanley significantly increased its holdings of Microsoft stock in the second quarter, an increase of 50% from the previous quarter. Goldman Sachs also increased its holdings in Microsoft by 13% in the second quarter, making Microsoft its third largest holding.</p><p>Among the top five holdings held by \"technology stock hunter\" Tiger Global in the second quarter, Microsoft and<a href=\"https://laohu8.com/S/META\">Meta Platforms</a>(META.US) ranked second and fifth respectively. It is worth mentioning that Tiger Global's position in Meta Platforms rose from tenth in the previous quarter to fifth, a significant increase of 15% from the number of positions held in the previous quarter. In addition, Tiger Global also opened a position in Alphabet.</p><p><img src=\"https://static.tigerbbs.com/53fedca5544b2bcd89d98b8d5233cf78\" tg-width=\"1335\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/></p><p>Bridgewater Fund's top five buying targets also include<a href=\"https://laohu8.com/S/MA\">MasterCard</a>(MA.US), Alphabet and Meta Platforms, three technology stocks, the fund also opened a long position in Amazon (AMZN.US) in the second quarter.</p><p>Although technology stocks generally suffered heavy blows in the second quarter, the strong rebound of U.S. stocks in July seems to prove the \"wise decision\" of asset management giants to increase their positions in technology stocks. Take Apple, which sits on the \"throne\" of technology stocks, as an example. In the case of poor overall performance of the market, Apple's stock price fell to a low of $128.86 on June 16, but on August 18, Apple's stock price rebounded about 34% from the June low to above $174, which is less than 5% short of the stock's all-time high of about $182 set in January this year.</p><p>However, after Federal Reserve Chairman Jerome Powell made hawkish remarks at the global central bank meeting in Jackson Hole, the \"head-on confrontation\" between technology stocks and U.S. bond yields may become more intense, which may lead to a sharp increase in technology stocks not long ago. Asset management companies are facing huge losses. Analysts believe that technology stocks sensitive to interest rates may sell off again in the future, as almost every sign indicates that Powell will stick to his tough stance given the high global prices of goods and services.</p><p>Soaring interest rates have increased funding costs for tech companies. That's not a problem for cash-flow-rich tech companies like Apple and Microsoft, though, and fundamentally sound tech stocks tend to have solid profitability, healthy balance sheets, and the ability to navigate deflationary trends. But for those unprofitable technology companies that are constantly burning money in pursuit of rapid growth, the risk has risen sharply.</p><p>3. Pharmaceutical, energy, and daily consumer stocks each have their own merits</p><p>In BlackRock's second-quarter position report, from the perspective of changes in position ratios, its top five buying targets include<a href=\"https://laohu8.com/S/UNH\">United Health</a>Johnson & Johnson (JNJ.US),<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>(MRK.US), Pfizer (PFE.US) four pharmaceutical stocks, and the other is an energy stock<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>(XOM.US).</p><p><img src=\"https://static.tigerbbs.com/f91529edbcdf724d3ec71ea03549b662\" tg-width=\"396\" tg-height=\"425\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>Also Bridgewater's second largest holding, the fund also significantly increased its holdings of CVS Health (CVS.US) in the second quarter. Morgan Stanley also increased its holdings of UnitedHealth and Johnson & Johnson in the second quarter.</p><p>JPMorgan Chase also prefers pharmaceutical stocks. Its top ten holdings include three pharmaceutical stocks: UnitedHealth, AbbVie (ABBV.US) and Bristol-Myers Squibb (BMY.US). Among them, the number of positions held by UnitedHealth is higher than that of the previous quarter. An increase of 20%, the number of positions held by AbbVie and Bristol-Myers Squibb also increased slightly from the previous quarter.</p><p><img src=\"https://static.tigerbbs.com/d9c76e02855a9d2091d0fe277347886c\" tg-width=\"1335\" tg-height=\"628\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BX\">Blackstone</a>It prefers energy stocks. Four of its top five holdings are energy stocks, namely Cheniere Energy (CQP.US), Energy Transfer (ET.US),<a href=\"https://laohu8.com/S/MPLX\">MPLX LP</a>(MPLX.US) and Enterprise Products (EPD.US).</p><p><img src=\"https://static.tigerbbs.com/1670c57df8eeabe788af2f0a29a9ea34\" tg-width=\"1333\" tg-height=\"320\" referrerpolicy=\"no-referrer\"/></p><p>Energy stocks that have received much attention this year<a href=\"https://laohu8.com/S/OXY\">Western Petroleum</a>(OXY.US) unsurprisingly became Berkshire Hathaway's largest buy target in the second quarter. Berkshire Hathaway has significantly increased its holdings of Occidental Petroleum this year and submitted an application to the Federal Energy Regulatory Commission to buy more Occidental Petroleum shares on July 11. Currently, Berkshire Hathaway owns 188.5 million shares of Occidental Petroleum, accounting for a shareholding ratio of 20.2%, exceeding the 20% consolidation threshold.</p><p>In addition to Occidental Petroleum, Berkshire Hathaway also significantly increased its holdings in the second quarter<a href=\"https://laohu8.com/S/CVX\">Chevron</a>(CVX.US), the number of holdings increased by 316% from the previous quarter, making the latter Berkshire Hathaway's fourth largest holding. Some market analysts believe that Buffett has always favored traditional oil stocks, and traditional energy is still a long-term rigid demand in the future. Especially after investment restrictions, leading companies have followed the logic of increasing concentration, financial data is improving, and the overall valuation level is also improving with the increase.</p><p>Daily consumer stocks captured the \"heart\" of Bridgewater Fund. Among the top ten holdings held by Bridgewater in the second quarter, there are as many as five daily consumer stocks, namely Procter & Gamble (PG.US), Coca-Cola (KO.US), PepsiCo (PEP.US), Costco (COST.US) and Walmart (WMT.US).</p><p><img src=\"https://static.tigerbbs.com/e39a4d9339453ef1453aee421b14e2a5\" tg-width=\"1295\" tg-height=\"676\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/785981.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.zhitongcaijing.com/content/detail/785981.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1103083207","content_text":"作者： 庄礼佳过去两周，许多资管巨头都公布了各自的第二季度持仓报告(13F)。本文将通过对包括伯克希尔哈撒韦、贝莱德、桥水基金等12家资管巨头的二季度持仓报告来看看这些“聪明钱”都买了什么。1、大盘走弱之下 资管巨头持仓市值普遍缩水从各家资管巨头公布的数据来看，除了摩根士丹利之外，其余资管巨头在二季度的持仓总市值均较一季度出现了下滑。其中，有着“科技股猎手”之称的老虎环球二季度持仓总市值环比接近“腰斩”。其余表现较好的资管巨头包括：景林资产持仓总市值环比下降不到4%，桥水基金持仓总市值环比下降不到5%。资管巨头们的持仓市值缩水与整体市场的表现基本一致。数据显示，在二季度，标普500指数下跌了16.45%，而纳斯达克指数则下跌了22.44%。2、科技股仍获青睐尽管美股科技股在二季度的走势并不好，但多家资管巨头的持仓报告显示，科技股仍是其重点持仓标的。全球最大资管贝莱德的二季度持仓中，科技股所占比例最高，为22.35%。前五大重仓股均为科技股，依次为苹果(AAPL.US)、微软(MSFT.US)、亚马逊(AMZN.US)、Alphabet(GOOGL.US)和谷歌(GOOG.US)，特斯拉(TSLA.US)与英伟达(NVDA.US)分别是贝莱德第六大、第十大重仓股。苹果同样是巴菲特旗下伯克希尔哈撒韦的第一大重仓股，占投资组合比例高达42.20%。值得一提的是，伯克希尔哈撒韦还在第三季度增持了约380万股苹果股票。与此同时，苹果还是景顺集团、美国银行、高盛、摩根士丹利的第二大重仓股、摩根大通的第四大重仓股。除了苹果之外，微软同样获得资管巨头们的青睐。微软是摩根大通的头号重仓股，在二季度的持仓数量较上季度增加了10%。景顺集团、美国银行和摩根士丹利都将微软作为其第一大重仓股，其中摩根士丹利更是在二季度大幅增持了微软股票，较上季度持仓数量增加了50%。高盛也在二季度将微软的持仓数量增加了13%，使得微软成为其第三大重仓股。“科技股猎手”老虎环球的二季度持仓的前五大重仓股中，微软和Meta Platforms(META.US)分别位列第二和第五。值得一提的是，老虎环球对Meta Platforms的持仓比例从上季度排名第十升至第五，较上季度持仓数量大幅增持15%。此外，老虎环球还建仓了Alphabet。桥水基金的前五大买入标的中也包含万事达(MA.US)、Alphabet和Meta Platforms这三只科技股，该基金还在二季度建仓做多亚马逊(AMZN.US)。尽管科技股在二季度普遍遭遇重击，但美股在7月份的强势反弹似乎证明了资管巨头们加仓科技股的“英明决定”。以坐在科技股“王座”上的苹果为例，在大盘整体表现不佳的情况下，苹果股价在6月16日盘中跌至128.86美元的低点，但在8月18日时，苹果股价就较6月低点反弹约34%至174美元上方，距离该股在今年1月创下的约182美元的历史高点仅差不到5%的涨幅。然而，在美联储主席鲍威尔于杰克逊霍尔全球央行会议上发表鹰派言论之后，科技股与美债收益率之间的“正面交锋”或将愈发激烈，这可能使得前不久大幅加仓科技股的资管公司们面临巨大亏损。分析人士认为，对利率水平敏感的科技类股票未来可能再度遭抛售，因为几乎所有迹象都表明，鉴于目前全球商品和服务价格仍居高不下，鲍威尔将坚持其强硬立场。不断飙升的利率增加了科技公司融资成本。不过，对于苹果和微软等现金流充裕的科技公司来说，这不是问题，基本面良好的科技股往往具有可靠的盈利能力、健康的资产负债表以及驾驭通缩趋势的能力。但对于那些不断烧钱追求快速增长的尚未盈利的科技公司来说，风险则大幅上行。3、医药类、能源类、日常消费类股各有千秋在贝莱德的二季度持仓报告中，从持仓比例变化来看，其前五大买入标的中就包括联合健康(UNH.US)、强生(JNJ.US)、默沙东(MRK.US)、辉瑞(PFE.US)四只医药类股，另外一只则是作为能源类股的埃克森美孚(XOM.US)。强生同样是桥水基金的第二大重仓股，该基金还在二季度大幅增持了CVS Health (CVS.US)。摩根士丹利在二季度也增持了联合健康和强生。摩根大通也偏好医药股，其前十大重仓股中就包含联合健康、艾伯维(ABBV.US)和百时美施贵宝(BMY.US)三只医药股，其中联合健康的持仓数量较上季度增加20%，艾伯维和百时美施贵宝的持仓数量也较上季度小幅增长。黑石更青睐能源股，其前五大重仓股中有四只是能源股，分别是Cheniere Energy(CQP.US)、Energy Transfer(ET.US)、MPLX LP(MPLX.US)以及Enterprise Products(EPD.US)。今年以来备受市场关注的能源股西方石油(OXY.US)不出意外地成为伯克希尔哈撒韦在二季度的第一大买入标的。伯克希尔哈撒韦在今年大幅增持了西方石油，并于7月11日向美国联邦能源管理委员会提交了购买更多西方石油股票的申请。目前，伯克希尔哈撒韦拥有1.885亿股西方石油股票，持股比例达到20.2%，超过了20%的并表门槛。除了西方石油以外，伯克希尔哈撒韦在二季度同样大幅增持了雪佛龙(CVX.US)，持仓数量较上季度增长316%，使得后者成为伯克希尔哈撒韦的第四大重仓股。有市场分析人士认为，巴菲特对传统石油股一直青睐有加，传统能源依旧是未来长期刚需，尤其是限制投资后，头部企业走集中度提升逻辑，财务数据向好，整体估值水位也随着提升。日常消费类股则俘获了桥水基金的“芳心”。桥水二季度持仓的前十大重仓股中有多达五只日常消费类股，分别是宝洁(PG.US)、可口可乐(KO.US)、百事可乐(PEP.US)、好市多(COST.US)和沃尔玛(WMT.US)。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2384,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9939024204,"gmtCreate":1662029545612,"gmtModify":1676536628559,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939024204","repostId":"1188367124","repostType":4,"isVote":1,"tweetType":1,"viewCount":2499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9939024889,"gmtCreate":1662029534343,"gmtModify":1676536628551,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939024889","repostId":"2264251077","repostType":4,"isVote":1,"tweetType":1,"viewCount":2587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9930883617,"gmtCreate":1661928836542,"gmtModify":1676536605810,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>","text":"$Grab Holdings(GRAB)$","images":[{"img":"https://community-static.tradeup.com/news/c28026b351cd650f55cc32175bda0dc6","width":"1242","height":"3008"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9930883617","isVote":1,"tweetType":1,"viewCount":2498,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9930880220,"gmtCreate":1661928489762,"gmtModify":1676536605757,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9930880220","repostId":"1110193028","repostType":4,"repost":{"id":"1110193028","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":1661907934,"share":"https://ttm.financial/m/news/1110193028?lang=en_US&edition=fundamental","pubTime":"2022-08-31 09:05","market":"hk","language":"zh","title":"The winning rate of one lot of Biocyto-B is 50%, and the subscription of 14 lots is stable","url":"https://stock-news.laohu8.com/highlight/detail?id=1110193028","media":"老虎资讯综合","summary":"8月31日，百奥赛图-B发布公告，公司全球发售2175.85万股股份，其中香港发售股份217.6万股，国际发售股份1958.25万股，另有15%超额配股权；发售价为每股发售股份25.22港元，每手买卖","content":"<p><html><head></head><body>August 31,<a href=\"https://laohu8.com/S/02315\">Biocyto-B</a>It was announced that the company sold 21.7585 million shares globally, including 2.176 million shares offered in Hong Kong, 19.5825 million shares offered internationally, and a 15% over-allotment option; The Offer Price is HK $25.22 per Offer Share, with a board lot of 500 shares;<a href=\"https://laohu8.com/S/601995\">CICC</a>(b)<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Are the Joint Sponsors; It is expected that the Shares will be listed on the Main Board of the Stock Exchange on 1 September 2022.</p><p><b>The relevant data of Tiger Information Collation is as follows:</b></p><p><img src=\"https://static.tigerbbs.com/bfe1fe1e76e82123d9604aa786444204\" tg-width=\"1059\" tg-height=\"824\" width=\"100%\" height=\"auto\"/></p><p><b>Distribution results</b></p><p>Group A has 500 shares per lot, with a winning rate of 50% for one lot, and 14 subscriptions are secure in one lot.</p><p>The head of Group B is 400 lots (200,000 shares), and 100 lots (50,000 shares) are allocated.</p><p><img src=\"https://static.tigerbbs.com/55a7b8874bfe77499a8c822eca293038\" tg-width=\"611\" tg-height=\"682\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/d91bc610c3945989c6040d6ea210986d\" tg-width=\"613\" tg-height=\"286\" width=\"100%\" height=\"auto\"/></p><p>The Hong Kong Offer Shares have been slightly oversubscribed. A total of 3,524 valid applications were received to subscribe for a total of 12.9095 million Hong Kong Offer Shares, equivalent to approximately 5.93 times the total number of Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. The Offer Shares initially offered under the International Offering have been slightly oversubscribed, representing approximately 1.6 times the total number of Offer Shares initially available under the International Offering. Based on the offer price of HK $25.22 per share, and according to the cornerstone investment agreement, the cornerstone investors have subscribed for a total of 15.4785 million offer shares.</p><p>Based on the offer price of HK $25.22 per share, the net proceeds the company will receive from the global offering are estimated to be approximately HK $471.1 million (assuming the over-allotment option is not exercised). The company intends to use approximately 70% of the net proceeds to fund further clinical research and development of core products; Approximately 15% is used to fund the discovery and development of antibody drugs under the Thousand Mice Antibody Program; About 10% is used for pre-clinical and clinical development of other pipeline products; And about 5% will be used for working capital and other general corporate purposes. If the over-allotment option is exercised in full, the company will receive additional net proceeds of approximately HK $79.4 million for the 3,263,500 additional H shares to be issued and allotted due to the exercise of the over-allotment option.</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 winning rate of one lot of Biocyto-B is 50%, and the subscription of 14 lots is stable</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 winning rate of one lot of Biocyto-B is 50%, and the subscription of 14 lots is stable\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\">2022-08-31 09:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>August 31,<a href=\"https://laohu8.com/S/02315\">Biocyto-B</a>It was announced that the company sold 21.7585 million shares globally, including 2.176 million shares offered in Hong Kong, 19.5825 million shares offered internationally, and a 15% over-allotment option; The Offer Price is HK $25.22 per Offer Share, with a board lot of 500 shares;<a href=\"https://laohu8.com/S/601995\">CICC</a>(b)<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Are the Joint Sponsors; It is expected that the Shares will be listed on the Main Board of the Stock Exchange on 1 September 2022.</p><p><b>The relevant data of Tiger Information Collation is as follows:</b></p><p><img src=\"https://static.tigerbbs.com/bfe1fe1e76e82123d9604aa786444204\" tg-width=\"1059\" tg-height=\"824\" width=\"100%\" height=\"auto\"/></p><p><b>Distribution results</b></p><p>Group A has 500 shares per lot, with a winning rate of 50% for one lot, and 14 subscriptions are secure in one lot.</p><p>The head of Group B is 400 lots (200,000 shares), and 100 lots (50,000 shares) are allocated.</p><p><img src=\"https://static.tigerbbs.com/55a7b8874bfe77499a8c822eca293038\" tg-width=\"611\" tg-height=\"682\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/d91bc610c3945989c6040d6ea210986d\" tg-width=\"613\" tg-height=\"286\" width=\"100%\" height=\"auto\"/></p><p>The Hong Kong Offer Shares have been slightly oversubscribed. A total of 3,524 valid applications were received to subscribe for a total of 12.9095 million Hong Kong Offer Shares, equivalent to approximately 5.93 times the total number of Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. The Offer Shares initially offered under the International Offering have been slightly oversubscribed, representing approximately 1.6 times the total number of Offer Shares initially available under the International Offering. Based on the offer price of HK $25.22 per share, and according to the cornerstone investment agreement, the cornerstone investors have subscribed for a total of 15.4785 million offer shares.</p><p>Based on the offer price of HK $25.22 per share, the net proceeds the company will receive from the global offering are estimated to be approximately HK $471.1 million (assuming the over-allotment option is not exercised). The company intends to use approximately 70% of the net proceeds to fund further clinical research and development of core products; Approximately 15% is used to fund the discovery and development of antibody drugs under the Thousand Mice Antibody Program; About 10% is used for pre-clinical and clinical development of other pipeline products; And about 5% will be used for working capital and other general corporate purposes. If the over-allotment option is exercised in full, the company will receive additional net proceeds of approximately HK $79.4 million for the 3,263,500 additional H shares to be issued and allotted due to the exercise of the over-allotment option.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"02315":"百奥赛图-B"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110193028","content_text":"8月31日，百奥赛图-B发布公告，公司全球发售2175.85万股股份，其中香港发售股份217.6万股，国际发售股份1958.25万股，另有15%超额配股权；发售价为每股发售股份25.22港元，每手买卖单位500股；中金公司及高盛为联席保荐人；预期股份将于2022年9月1日于联交所主板挂牌上市。老虎资讯整理相关数据如下：分配结果甲组每手500股，一手中签率50%，申购14手稳中一手。乙组头为400手（200000股），获配100手（50000股）。香港发售股份已获轻微超额认购。合共接获3524份有效申请，认购合共1290.95万股香港发售股份，相当于香港公开发售项下初步可供认购香港发售股份总数的约5.93倍。国际发售项下初步提呈发售的发售股份已获轻微超额认购，相当于国际发售项下初步可供认购发售股份总数约1.6倍。按发售价每股25.22港元计算，且根据基石投资协议，基石投资者已认购合共1547.85万股发售股份。按发售价每股25.22港元计算，公司将自全球发售收取的所得款项净额估计约为4.711亿港元(假设超额配股权未获行使)。公司拟将所得款项净额约70%用于为核心产品的进一步临床研发提供资金；约15%用于根据千鼠万抗计划为抗体药物发现及开发提供资金；约10%用于其他管线产品的临床前及临床开发；及约5%将用作营运资金及其他一般公司用途。倘超额配股权获悉数行使，则公司将就因超额配股权获行使而将予发行及配发的326.35万股额外H股收取额外所得款项净额约7940万港元。","news_type":1,"symbols_score_info":{"02315":0.9}},"isVote":1,"tweetType":1,"viewCount":2285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9930880827,"gmtCreate":1661928470972,"gmtModify":1676536605756,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9930880827","repostId":"2263425809","repostType":4,"isVote":1,"tweetType":1,"viewCount":1034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9997463066,"gmtCreate":1661836309857,"gmtModify":1676536588579,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9997463066","repostId":"1175791610","repostType":4,"isVote":1,"tweetType":1,"viewCount":1259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9997178516,"gmtCreate":1661772245338,"gmtModify":1676536575730,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9997178516","repostId":"2263144240","repostType":4,"isVote":1,"tweetType":1,"viewCount":959,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9994790190,"gmtCreate":1661689023214,"gmtModify":1676536561298,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9994790190","repostId":"1175369432","repostType":4,"repost":{"id":"1175369432","kind":"news","pubTimestamp":1661663001,"share":"https://ttm.financial/m/news/1175369432?lang=en_US&edition=fundamental","pubTime":"2022-08-28 13:03","market":"hk","language":"zh","title":"Ideal responds to the delayed delivery of L9: due to the delay in supply from the Sichuan range extender factory","url":"https://stock-news.laohu8.com/highlight/detail?id=1175369432","media":"中新经纬","summary":"据悉，理想L9此前预计8月底开始交付。","content":"<p><html><head></head><body>Author: Niu Chaoge</p><p>On the 28th, in response to the delayed delivery of Ideal L9 reported online,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>The customer service staff confirmed, \"Due to the power shortage in Sichuan, the supply of Li Auto's range extender factory in Mianyang, Sichuan was delayed, resulting in the delay in the delivery of the ideal L9.\"</p><p>According to online information, Li Auto released the \"Ideal L9 Delivery Time Extension Announcement\" in the official App.</p><p>\"The announcement of delayed delivery will only be pushed to the car owner who placed the order, and other users will not receive it.\" The above customer service said.</p><p>According to screenshots posted by netizens, for users who show delivery within August in the Li Auto App, it is expected that the delivery will be carried out for users from August 30 to September 4. If the user can't deliver the car until September due to the delay of the vehicle, the official A 1,000 yuan fuel card will be provided as user compensation. The App shows users delivered in September, and the vehicle will still be delivered within September.</p><p>\"The specific extension time still requires communication between the owner and the delivery expert. I am not a user who has placed an order, and I can't see the announcement.\" The above customer service said.</p><p>It is reported that the Ideal L9 was previously expected to start delivery at the end of August. It is worth noting that in the second quarter financial report meeting, Ideal's senior executives gave pessimistic expectations for the delivery volume of 27,000 to 29,000 vehicles in the third quarter.</p><p></body></html></p>","source":"zxjw","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>Ideal responds to the delayed delivery of L9: due to the delay in supply from the Sichuan range extender factory</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\">\nIdeal responds to the delayed delivery of L9: due to the delay in supply from the Sichuan range extender factory\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中新经纬</strong><span class=\"h-time small\">2022-08-28 13:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Niu Chaoge</p><p>On the 28th, in response to the delayed delivery of Ideal L9 reported online,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>The customer service staff confirmed, \"Due to the power shortage in Sichuan, the supply of Li Auto's range extender factory in Mianyang, Sichuan was delayed, resulting in the delay in the delivery of the ideal L9.\"</p><p>According to online information, Li Auto released the \"Ideal L9 Delivery Time Extension Announcement\" in the official App.</p><p>\"The announcement of delayed delivery will only be pushed to the car owner who placed the order, and other users will not receive it.\" The above customer service said.</p><p>According to screenshots posted by netizens, for users who show delivery within August in the Li Auto App, it is expected that the delivery will be carried out for users from August 30 to September 4. If the user can't deliver the car until September due to the delay of the vehicle, the official A 1,000 yuan fuel card will be provided as user compensation. The App shows users delivered in September, and the vehicle will still be delivered within September.</p><p>\"The specific extension time still requires communication between the owner and the delivery expert. I am not a user who has placed an order, and I can't see the announcement.\" The above customer service said.</p><p>It is reported that the Ideal L9 was previously expected to start delivery at the end of August. It is worth noting that in the second quarter financial report meeting, Ideal's senior executives gave pessimistic expectations for the delivery volume of 27,000 to 29,000 vehicles in the third quarter.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.jwview.com/jingwei/html/08-28/500954.shtml\">中新经纬</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cfd0e1f3d1695da2f5dabecfbac4bc57","relate_stocks":{"LI":"理想汽车","02015":"理想汽车-W"},"source_url":"http://www.jwview.com/jingwei/html/08-28/500954.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175369432","content_text":"作者：牛朝阁28日，针对网传理想L9延期交付一事，理想汽车客服人员给予了确认，“因四川地区电力紧张，理想汽车在四川绵阳的增程器工厂供应延迟，导致理想L9交付延期。”据网传信息显示，理想汽车在官方App中发布了“理想L9交付时间延期公告”。“延期交付的公告只会推送给下订单的车主，其他用户不会收到。”上述客服表示。根据网友晒出的截图，对于在理想汽车App内显示8月内交付的用户，预计将在8月30日至9月4日为用户进行交付，由于车辆延期导致用户9月才能交车的，官方将提供1000元油卡作为用户补偿。App内显示9月交付的用户，车辆则仍会在9月内完成交付。“具体的延期时间还需要车主和交付专家沟通。我也不是已下订单用户，也看不到公告。”上述客服表示。据悉，理想L9此前预计8月底开始交付。值得注意的是，在二季度财报会中，理想高层人员曾对三季度交付量给出了2.7万辆至2.9万辆的悲观预期。","news_type":1,"symbols_score_info":{"LI":0.9,"02015":0.9}},"isVote":1,"tweetType":1,"viewCount":871,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9994143350,"gmtCreate":1661581759572,"gmtModify":1676536546425,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9994143350","repostId":"2262937641","repostType":2,"isVote":1,"tweetType":1,"viewCount":810,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9995770329,"gmtCreate":1661524641163,"gmtModify":1676536535069,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995770329","repostId":"1152393159","repostType":4,"repost":{"id":"1152393159","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":1661522465,"share":"https://ttm.financial/m/news/1152393159?lang=en_US&edition=fundamental","pubTime":"2022-08-26 22:01","market":"other","language":"zh","title":"Powell hawkish statement: The magnitude of September rate hike depends on overall data","url":"https://stock-news.laohu8.com/highlight/detail?id=1152393159","media":"老虎资讯综合","summary":"8月26日周五，在备受瞩目的美联储杰克逊霍尔年会上，美联储主席鲍威尔暗示不会很快降息。鲍威尔称，9月加息规模取决于“整体”数据。7月份的较低通胀数据值得欢迎，但还不足以让央行相信通胀正在下降。美联储可","content":"<p><html><head></head><body>On Friday, August 26, at the high-profile annual meeting of the Federal Reserve in Jackson Hole, Federal Reserve Chairman Jerome Powell hinted that interest rates would not be cut anytime soon.</p><p>Powell said the size of September rate hike depends on \"overall\" data. Lower inflation data in July is welcome, but also<b>Not enough to convince central banks that inflation is falling</b>。 The Federal Reserve may require restrictive policy for some time. The longer-term neutral expected level of 2.25%-2.50% for the benchmark overnight rate is \"not the place to put the Fed to stop or pause its actions.\"</p><p>Powell hinted at<b>Trade slowing economic growth for determination to cool inflation.</b>He said that reducing inflation may require economic growth to remain below trend for a period of time. It will take some time to restore price stability, which requires<b>\"Forcefully\"</b>Use the tools of the central bank. Lessons from history show that,<b>Don't relax policy \"too early\"</b>。</p><p>Powell noted that the labor market is particularly strong but unbalanced; High inflation continues to spread. While the jobs environment is likely to soften somewhat, causing some pain for households, which are the unfortunate costs of bringing down inflation, the failure to restore price stability will mean even greater pain.</p><p>Regarding the economy, Powell said that the economy continues to show strong fundamental momentum. The U.S. economy has slowed down significantly, but the underlying momentum is strong. To some extent,<b>With further tightening of policy stance, it would be appropriate to slow down the pace of rate hike.</b></p><p>Affected by this news, U.S. stocks plummeted, and the Nasdaq index's decline expanded to 1%.</p><p><img src=\"https://static.tigerbbs.com/3a2644a7b6ba7e19e4e663468a8f8b02\" 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>Powell hawkish statement: The magnitude of September rate hike depends on overall data</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\">\nPowell hawkish statement: The magnitude of September rate hike depends on overall data\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\">2022-08-26 22:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On Friday, August 26, at the high-profile annual meeting of the Federal Reserve in Jackson Hole, Federal Reserve Chairman Jerome Powell hinted that interest rates would not be cut anytime soon.</p><p>Powell said the size of September rate hike depends on \"overall\" data. Lower inflation data in July is welcome, but also<b>Not enough to convince central banks that inflation is falling</b>。 The Federal Reserve may require restrictive policy for some time. The longer-term neutral expected level of 2.25%-2.50% for the benchmark overnight rate is \"not the place to put the Fed to stop or pause its actions.\"</p><p>Powell hinted at<b>Trade slowing economic growth for determination to cool inflation.</b>He said that reducing inflation may require economic growth to remain below trend for a period of time. It will take some time to restore price stability, which requires<b>\"Forcefully\"</b>Use the tools of the central bank. Lessons from history show that,<b>Don't relax policy \"too early\"</b>。</p><p>Powell noted that the labor market is particularly strong but unbalanced; High inflation continues to spread. While the jobs environment is likely to soften somewhat, causing some pain for households, which are the unfortunate costs of bringing down inflation, the failure to restore price stability will mean even greater pain.</p><p>Regarding the economy, Powell said that the economy continues to show strong fundamental momentum. The U.S. economy has slowed down significantly, but the underlying momentum is strong. To some extent,<b>With further tightening of policy stance, it would be appropriate to slow down the pace of rate hike.</b></p><p>Affected by this news, U.S. stocks plummeted, and the Nasdaq index's decline expanded to 1%.</p><p><img src=\"https://static.tigerbbs.com/3a2644a7b6ba7e19e4e663468a8f8b02\" 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/b37cbfdbd9fac06fc4ae2f84ad058a92","relate_stocks":{".DJI":"道琼斯"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152393159","content_text":"8月26日周五，在备受瞩目的美联储杰克逊霍尔年会上，美联储主席鲍威尔暗示不会很快降息。鲍威尔称，9月加息规模取决于“整体”数据。7月份的较低通胀数据值得欢迎，但还不足以让央行相信通胀正在下降。美联储可能在一段时间内要求采取限制性政策。基准隔夜利率2.25%-2.50%的长期中性预期水平“不是让美联储停止或暂停行动的位置”。鲍威尔暗示了用经济增长放缓换取通胀降温的决心。他说，降低通货膨胀可能需要经济增速持续一段时间低于趋势。恢复价格稳定需要一段时间，这需要“有力地”使用央行的工具。历史的教训显示，不要“过早”放松政策。鲍威尔指出，劳动力市场特别强劲，但失衡；高通胀继续蔓延。虽然就业环境很可能会有所疲软，给家庭带来一些痛苦，这些都是降低通胀的不幸代价，但无法恢复价格稳定将意味着更大的痛苦。对于经济，鲍威尔表示，经济继续显示强劲的基本面动力美国经济明显放缓，但潜在势头强劲。在某种程度上，随着政策立场进一步收紧，放慢加息步伐将是适当的。受此消息影响，美股直线下挫，纳斯达克指数跌幅扩大至1%。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":790,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996588372,"gmtCreate":1661202824499,"gmtModify":1676536470179,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996588372","repostId":"1141625467","repostType":4,"isVote":1,"tweetType":1,"viewCount":943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996588922,"gmtCreate":1661202809370,"gmtModify":1676536470179,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996588922","repostId":"1141625467","repostType":4,"isVote":1,"tweetType":1,"viewCount":766,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996581796,"gmtCreate":1661202798617,"gmtModify":1676536470171,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996581796","repostId":"2261544041","repostType":4,"repost":{"id":"2261544041","kind":"news","pubTimestamp":1661172131,"share":"https://ttm.financial/m/news/2261544041?lang=en_US&edition=fundamental","pubTime":"2022-08-22 20:42","market":"fut","language":"zh","title":"The bull market is not over! Is a new wave of \"hot\" commodity market about to start?","url":"https://stock-news.laohu8.com/highlight/detail?id=2261544041","media":"华尔街见闻","summary":"经济衰退“对垒”供应短缺，谁将主导商品市场未来走势？今年以来，全球大宗商品价格跌宕起伏。开春，受供给侧制约推动，大宗商品涨势如虹，棉花、铜、石油、铁矿石、铝等期货价格不断创出新高。入夏，在强美元、弱经","content":"<p><html><head></head><body>Economic recession \"versus\" supply shortage, who will dominate the future trend of the commodity market? Since the beginning of this year, global commodity prices have been ups and downs. At the beginning of spring, driven by supply-side constraints, commodities rose like a rainbow, and futures prices of cotton, copper, oil, iron ore, aluminum, etc. continued to hit new highs. In summer, under the impact of unfavorable factors such as a strong US dollar and weak economic expectations, the commodity market is obviously differentiated, and many major varieties have experienced deep corrections.</p><p>Entering August, although commodity prices rebounded, they were still weak. For example, although EIA inventories plummeted by 7.1 million barrels more than expected on Wednesday, it still did not push oil prices up sharply. As of press time, the main contract of U.S. WTI crude oil futures is still playing repeatedly at the $90 mark, with a cumulative drop of more than 26% from the June high; The main force of COMEX gold rebounded above $1,820/oz on the 12th and then turned again, falling to less than $1,750/oz.</p><p>Many market analysts have warned that as major economies continue to tighten monetary policy, global commodity prices may become more volatile due to uncertain factors in the second half of the year, and the bull market in the global commodity market may come to an end.</p><p>However,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>、<a href=\"https://laohu8.com/S/UBS\">UBS</a>However, many people on Wall Street have not wavered their confidence in the outlook of the commodity market. They believe that it may still be in the \"halftime\" of this round of commodity super cycle, and a new wave of bull market may break out at the end of the year.</p><p>Goldman Sachs: Replenishment demand may push up commodity prices</p><p>Wall Street News mentioned that Goldman Sachs, the commodity \"standard bearer\", said in a research report on August 11 that the S&P GSCI commodity index will rise 23.4% before the end of the year.</p><p>Jeff Currie, global head of commodity research at Goldman Sachs, said that \"irrational expectations have led to unsustainable prices\":</p><p>\"There seems to be irrational expectations in the commodity markets today, with prices and inventories falling simultaneously, demand exceeding expectations and supply falling short.\" Further, Currie noted that if this claim proves false and this oversupply fails to materialize, the rush to replenish inventories will drive commodity scarcity and push prices up significantly in the fall. This could force central banks to tighten monetary policy more aggressively and create a more prolonged economic contraction.</p><p>Currie said in the research report:</p><p>\"Stocks and commodity markets are signaling to investors today that demand is more persistent and commodity prices are rising, while interest rates and inflation curves hint at an impending slowdown and weakening. Until we see a real softening in commodity fundamentals, we remain convinced of the former, not the latter.\" UBS: Commodity supply worries or a'comeback '</p><p>On August 15, UBS Wealth Management Investment Director's Office (CIO) issued a report stating that the agency believes that commodities are oversold. Although there are still long-term risks, they are expected to gain gains in the short to medium term.</p><p>Mark Haefele, chief investment officer of UBS Global Wealth Management, and his team believe that the deterioration of global economic growth prospects and the strengthening of the US dollar are the current influencing factors that dominate the trend of commodity prices. While commodity prices are likely to fall further as the global economy plunges into a deep recession, a \"soft landing\" is as likely as a significant economic slowdown for now. The team also expects a rebound in demand for commodities in China in the future.</p><p>On the supply side, the team said overly pessimistic forecasts for commodity markets do not adequately account for supply-side dynamics. Overall, commodity supply will be constrained, and \"we are seeing positive demand trends\" due to years of underinvestment, low official inventories across multiple sectors, and weather and geopolitical factors.</p><p>The team also said concerns about supply shortages could return. Industrial metals and steel, as the core of the new commodity cycle and necessary raw materials in the decarbonization process, may effectively boost the recovery of commodity prices:</p><p>\"While this narrative is not new, we believe that the world is still unprepared for the surge in demand associated with the transition to clean energy. Despite higher prices, a decade of low returns and environmental, social and governance (ESG) concerns have constrained investment in future supply growth of critical metals such as copper.\" The team expects broad commodity indexes to deliver 15%-20% returns over the next 6-12 months.</p><p>Variant Perception: Illiquidity in commodities trading exacerbates short squeeze potential</p><p>According to the view of Variant Perception, an investment research company, it is currently in the \"intermission\" of the commodity super cycle, and the overall trend of commodities in the second half of 2022 will show \"large fluctuations and small directional deviations.\" The agency believes that the current trend of commodity prices is similar to that in the fourth quarter of 2004 and the second half of 2006.</p><p><img src=\"https://static.tigerbbs.com/20f093a49dd6c14cf530fffc2edb9d31\" tg-width=\"1024\" tg-height=\"349\" referrerpolicy=\"no-referrer\"/></p><p>The agency also said that the lack of liquidity in commodity futures trading will also amplify the possibility of a short squeeze rebound, as Jeremy Weir, CEO of commodity trading agency Trafigura, said:</p><p>\"The lack of depth in the commodity futures market appears to continue to be a challenge for the industry as all players reduce their trading in derivatives, which in turn puts pressure on the ability to trade physically in commodities.\" Minsheng Securities: The road to repricing of the cycle is officially open</p><p>Mou Yiling, a strategist of Minsheng, believes that the global market has traded \"recession = downward inflation\" in advance. The implicit assumption behind it is that as long as the demand curve is shifted to the left again through tight monetary policy, the price level can fall back and escape from \"stagflation\" and enter post-recession easing. However, as both green inflation and population reversal are at work, long-cycle changes are wrestling with short-cycle economic cycles, and inflation is currently showing stickiness.</p><p>Mou Yiling said:</p><p>\"After fully pricing the short-term demand decline, the problem of long-term inflation will drive the re-correction of market pricing.\" Furthermore, Mou Yiling said that considering that overseas recession transactions are coming to an end, inflation stickiness is being re-priced, and domestic power cuts The shock will also catalyze the production capacity value of traditional energy sources that need to be revalued urgently. Combined with the current old energy sources becoming the focus of global transactions, the elasticity of thermal coal, oil and gas and electricity, as well as industrial metals (aluminum, copper) in the recovery of demand expectations should not be ignored.</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>The bull market is not over! Is a new wave of \"hot\" commodity market about to start?</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 bull market is not over! Is a new wave of \"hot\" commodity market about to start?\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\">2022-08-22 20:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Economic recession \"versus\" supply shortage, who will dominate the future trend of the commodity market? Since the beginning of this year, global commodity prices have been ups and downs. At the beginning of spring, driven by supply-side constraints, commodities rose like a rainbow, and futures prices of cotton, copper, oil, iron ore, aluminum, etc. continued to hit new highs. In summer, under the impact of unfavorable factors such as a strong US dollar and weak economic expectations, the commodity market is obviously differentiated, and many major varieties have experienced deep corrections.</p><p>Entering August, although commodity prices rebounded, they were still weak. For example, although EIA inventories plummeted by 7.1 million barrels more than expected on Wednesday, it still did not push oil prices up sharply. As of press time, the main contract of U.S. WTI crude oil futures is still playing repeatedly at the $90 mark, with a cumulative drop of more than 26% from the June high; The main force of COMEX gold rebounded above $1,820/oz on the 12th and then turned again, falling to less than $1,750/oz.</p><p>Many market analysts have warned that as major economies continue to tighten monetary policy, global commodity prices may become more volatile due to uncertain factors in the second half of the year, and the bull market in the global commodity market may come to an end.</p><p>However,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>、<a href=\"https://laohu8.com/S/UBS\">UBS</a>However, many people on Wall Street have not wavered their confidence in the outlook of the commodity market. They believe that it may still be in the \"halftime\" of this round of commodity super cycle, and a new wave of bull market may break out at the end of the year.</p><p>Goldman Sachs: Replenishment demand may push up commodity prices</p><p>Wall Street News mentioned that Goldman Sachs, the commodity \"standard bearer\", said in a research report on August 11 that the S&P GSCI commodity index will rise 23.4% before the end of the year.</p><p>Jeff Currie, global head of commodity research at Goldman Sachs, said that \"irrational expectations have led to unsustainable prices\":</p><p>\"There seems to be irrational expectations in the commodity markets today, with prices and inventories falling simultaneously, demand exceeding expectations and supply falling short.\" Further, Currie noted that if this claim proves false and this oversupply fails to materialize, the rush to replenish inventories will drive commodity scarcity and push prices up significantly in the fall. This could force central banks to tighten monetary policy more aggressively and create a more prolonged economic contraction.</p><p>Currie said in the research report:</p><p>\"Stocks and commodity markets are signaling to investors today that demand is more persistent and commodity prices are rising, while interest rates and inflation curves hint at an impending slowdown and weakening. Until we see a real softening in commodity fundamentals, we remain convinced of the former, not the latter.\" UBS: Commodity supply worries or a'comeback '</p><p>On August 15, UBS Wealth Management Investment Director's Office (CIO) issued a report stating that the agency believes that commodities are oversold. Although there are still long-term risks, they are expected to gain gains in the short to medium term.</p><p>Mark Haefele, chief investment officer of UBS Global Wealth Management, and his team believe that the deterioration of global economic growth prospects and the strengthening of the US dollar are the current influencing factors that dominate the trend of commodity prices. While commodity prices are likely to fall further as the global economy plunges into a deep recession, a \"soft landing\" is as likely as a significant economic slowdown for now. The team also expects a rebound in demand for commodities in China in the future.</p><p>On the supply side, the team said overly pessimistic forecasts for commodity markets do not adequately account for supply-side dynamics. Overall, commodity supply will be constrained, and \"we are seeing positive demand trends\" due to years of underinvestment, low official inventories across multiple sectors, and weather and geopolitical factors.</p><p>The team also said concerns about supply shortages could return. Industrial metals and steel, as the core of the new commodity cycle and necessary raw materials in the decarbonization process, may effectively boost the recovery of commodity prices:</p><p>\"While this narrative is not new, we believe that the world is still unprepared for the surge in demand associated with the transition to clean energy. Despite higher prices, a decade of low returns and environmental, social and governance (ESG) concerns have constrained investment in future supply growth of critical metals such as copper.\" The team expects broad commodity indexes to deliver 15%-20% returns over the next 6-12 months.</p><p>Variant Perception: Illiquidity in commodities trading exacerbates short squeeze potential</p><p>According to the view of Variant Perception, an investment research company, it is currently in the \"intermission\" of the commodity super cycle, and the overall trend of commodities in the second half of 2022 will show \"large fluctuations and small directional deviations.\" The agency believes that the current trend of commodity prices is similar to that in the fourth quarter of 2004 and the second half of 2006.</p><p><img src=\"https://static.tigerbbs.com/20f093a49dd6c14cf530fffc2edb9d31\" tg-width=\"1024\" tg-height=\"349\" referrerpolicy=\"no-referrer\"/></p><p>The agency also said that the lack of liquidity in commodity futures trading will also amplify the possibility of a short squeeze rebound, as Jeremy Weir, CEO of commodity trading agency Trafigura, said:</p><p>\"The lack of depth in the commodity futures market appears to continue to be a challenge for the industry as all players reduce their trading in derivatives, which in turn puts pressure on the ability to trade physically in commodities.\" Minsheng Securities: The road to repricing of the cycle is officially open</p><p>Mou Yiling, a strategist of Minsheng, believes that the global market has traded \"recession = downward inflation\" in advance. The implicit assumption behind it is that as long as the demand curve is shifted to the left again through tight monetary policy, the price level can fall back and escape from \"stagflation\" and enter post-recession easing. However, as both green inflation and population reversal are at work, long-cycle changes are wrestling with short-cycle economic cycles, and inflation is currently showing stickiness.</p><p>Mou Yiling said:</p><p>\"After fully pricing the short-term demand decline, the problem of long-term inflation will drive the re-correction of market pricing.\" Furthermore, Mou Yiling said that considering that overseas recession transactions are coming to an end, inflation stickiness is being re-priced, and domestic power cuts The shock will also catalyze the production capacity value of traditional energy sources that need to be revalued urgently. Combined with the current old energy sources becoming the focus of global transactions, the elasticity of thermal coal, oil and gas and electricity, as well as industrial metals (aluminum, copper) in the recovery of demand expectations should not be ignored.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3668341\">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/5d8fb95e65f042f352c6313989391357","relate_stocks":{"GS":"高盛"},"source_url":"https://wallstreetcn.com/articles/3668341","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"2261544041","content_text":"经济衰退“对垒”供应短缺，谁将主导商品市场未来走势？今年以来，全球大宗商品价格跌宕起伏。开春，受供给侧制约推动，大宗商品涨势如虹，棉花、铜、石油、铁矿石、铝等期货价格不断创出新高。入夏，在强美元、弱经济预期等不利因素的冲击下，商品市场分化明显，不少主力品种出现了深度回调。进入8月，大宗商品价格虽有反弹，但仍处于弱势。例如，尽管周三EIA库存超预期骤降710万桶，但仍未推动油价大幅上行。截至发稿，美国WTI原油期货主力合约仍在90美元关口反复博弈，较6月份高点累计下跌超26%；COMEX黄金主力在12日反弹至1820美元/盎司上方后再次转向，跌至不足1750美元/盎司。不少市场分析人士警告称，随着主要经济体继续收紧货币政策，下半年全球大宗商品价格受不确定因素影响可能加大震荡，全球大宗商品市场牛市或宣告终结。然而，高盛、瑞银等一众华尔街人士却丝毫没有动摇对商品市场后市的信心。他们认为，当下可能仍处在本轮大宗商品超级周期中的“中场休息”，新一波牛市行情或在年底爆发。高盛：补库需求或推升商品价格华尔街见闻提及，大宗商品“旗手”高盛在8月11日的一份研究报告中称，标普GSCI大宗商品指数年底前将上涨23.4%。高盛大宗商品研究全球主管Jeff Currie表示，“非理性预期导致了不可持续的价格”：“如今，大宗商品市场似乎存在非理性预期，价格和库存同时下降，需求超过预期，供应不及预期。”进一步，Currie指出，如果这种说法被证明是错误的，而且这种供应过剩未能成为现实，那么补充库存的热潮将推动商品稀缺，并在秋季大幅推高价格。这可能迫使央行更积极地收紧货币政策，并造成更持久的经济收缩。Currie在研报中称：“如今，股市和大宗商品市场向投资者发出的信号是，需求更加持久，大宗商品价格上涨，而利率和通胀曲线则暗示经济即将放缓和走软。在我们看到真正的大宗商品基本面软化之前，我们仍然相信前者，而不是后者。”瑞银：大宗商品供给担忧或“卷土重来”8月15日，瑞银财富管理投资总监办公室（CIO）发表报告表示，该机构认为大宗商品处于超卖状态，虽然仍有长期风险，但中短期有望获得收益。瑞银全球财富管理首席投资官Mark Haefele及其团队认为，全球经济增长前景恶化、美元走强是当下主导大宗商品价格走向的影响因素。尽管大宗商品价格可能在全球经济陷入深度衰退的情况下进一步下跌，但目前来看“软着陆”和经济明显放缓的可能性一样大。该团队还预计，未来中国对大宗商品的需求将出现反弹。供应方面，该团队表示，大宗商品市场的过度悲观预测并没有充分考虑到供应方面的动态。总体而言，大宗商品供应会受到限制，由于多年的投资不足、多个行业的官方库存都很低，以及天气和地缘政治因素，“我们看到了积极的需求趋势”。该团队还表示，对供应短缺的担忧可能卷土重来。工业金属和钢铁作为新大宗商品周期的核心和脱碳化过程中的必要原料，或将有力助推商品价格复苏：“虽然这种说法并不新鲜，但我们认为，世界仍没有准备好应对与向清洁能源转型相关的需求激增。尽管价格上涨，但十年来的低回报率以及对环境、社会和治理（ESG）的担忧，已经限制了对铜等关键金属未来供应增长的投资。”该团队预计，未来6-12个月，广泛大宗商品指数有望取得15%-20%的回报率。Variant Perception：大宗商品交易流动性不足，加剧逼空可能性投资研究公司 Variant Perception 的观点认为，当下正处在商品超级周期的“间歇”，2022年下半年大宗商品走势整体会呈现“大幅波动、小幅指向偏差”。该机构认为，当下大宗商品价格走势与将04年第四季度、06年下半年的走势较为类似。该机构还表示，大宗商品期货交易流动性不足，也将放大逼空反弹的可能性，正如大宗商品交易机构托克首席执行官Jeremy Weir所言：“大宗商品期货市场缺乏深度，似乎将继续是该行业面临的一个挑战，因为所有参与者都减少了对衍生品的交易，进而对大宗商品实物交易的能力构成压力。”民生证券：周期的重定价之路已正式开启民生策略分析师牟一凌认为，全球市场提前交易了“衰退=通胀下行”，背后隐含的假设是只要通过紧缩的货币政策将需求曲线重新左移，就可以实现价格水平的回落，从“滞胀”中逃离，进入衰退后的宽松。不过，由于绿色通胀和人口逆转都在发生作用，长周期变化正在与短经济周期形成角力，目前通胀正在呈现粘性。牟一凌表示：“在充分定价了短期需求下行后，长期通胀的问题将驱动市场定价的重新修正。”进一步，牟一凌称，考虑到海外的衰退交易正在告一段落，通胀粘性正在被重新定价，而国内的限电冲击也将催化本就亟待被重估的传统能源的产能价值，结合当下老能源正成为全球交易的关注点，动力煤、油气和电力，以及工业金属（铝、铜）在需求预期修复中的弹性不应该被忽视。","news_type":1,"symbols_score_info":{"GS":0.9}},"isVote":1,"tweetType":1,"viewCount":675,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996581185,"gmtCreate":1661202533950,"gmtModify":1676536470156,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4116924152740332","idStr":"4116924152740332"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/.SPX\">$标普500(.SPX)$</a>","listText":"<a href=\"https://ttm.financial/S/.SPX\">$标普500(.SPX)$</a>","text":"$标普500(.SPX)$","images":[{"img":"https://community-static.tradeup.com/news/223fd60ccb1ff5468b21948bcf5f5d1a","width":"1242","height":"3497"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996581185","isVote":1,"tweetType":1,"viewCount":879,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":9998617585,"gmtCreate":1660979260550,"gmtModify":1676536434849,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9998617585","repostId":"2260437405","repostType":4,"repost":{"id":"2260437405","kind":"news","pubTimestamp":1660960527,"share":"https://ttm.financial/m/news/2260437405?lang=en_US&edition=fundamental","pubTime":"2022-08-20 09:55","market":"us","language":"zh","title":"Senior Fed officials frequently voice hawks to \"set the tone\" for Powell's central bank meeting next week in advance?","url":"https://stock-news.laohu8.com/highlight/detail?id=2260437405","media":"华尔街见闻","summary":"美联储高官们最近的频频发生暗示，控制通胀仍然是美联储的首要目标，即便加息可能会将美国经济拖入衰退。市场认为，这可能是在为下周五美联储主席鲍威尔在全球央行大会上的鹰派讲话预热。下周，最令全球投资者瞩目的","content":"<p><html><head></head><body>Recently, senior Fed officials have frequently hinted that controlling inflation remains the Fed's primary goal, even if rate hike may drag the U.S. economy into recession. The market believes that this may be a warm-up for Federal Reserve Chairman Jerome Powell's hawkish speech at the global central bank meeting next Friday. Next week, one of the financial events that attracts the most attention of global investors will be the Jackson Hole Global Central Bank Annual Meeting to be held in Wyoming, USA next Friday, August 26th. At this event, Federal Reserve Chairman Jerome Powell will deliver a speech to discuss the economic outlook, and the content of his speech may indicate the direction of borrowing costs in the United States.</p><p><b>Before Powell's views, other senior Fed officials have recently made hawkish remarks, which seem to be \"setting the tone\" for Powell's speech.</b></p><p>Fed watchers expect Powell to speak hawkish as he reinforces the central bank's goal of curbing inflation and controlling expectations of future price increases.</p><p><b>On Friday, August 19, Richmond Fed President Thomas Barkin said that the Fed must continue to fight inflation even if inflation leads the economy into recession.</b></p><p>Just a day ago, three senior Fed officials made hawkish comments.</p><p><b>St. Louis Fed President James Bullard, the Fed's big hawk, said he preferred the Fed's September rate hike of 75 basis points.</b></p><p>Bullard said he was considering supporting another sharp rate hike at the Fed's interest rate meeting next month, adding that he was not ready for the economy to have experienced the worst of surging inflation:</p><p>We should continue to quickly raise policy rates to levels that will put significant downward pressure on inflation. I really don't understand why rate hike should be put off until next year. When talking about next month's interest rate meeting, he said:</p><p>I'm now leaning towards rate hike 75 basis points again. I think we have a relatively good read of the economy and we have very high inflation, so I think it makes sense to continue raising policy rates and move into a range where we can control inflation.<b>On the same day, another hawkish Fed official, Kansas City Fed President Esther George, expressed similar views. She believes that U.S. inflation, while it may be easing, is still on the high side:</b></p><p>The U.S. CPI data for July is encouraging, but it seems too hasty to declare the Biden administration's victory in fighting inflation.<b>On Thursday, San Francisco Fed President Mary Daly, who has always been regarded as a dovish official of the Federal Reserve, believed that the Federal Reserve should raise interest rates \"slightly\" above 3% before the end of the year to cool inflation:</b></p><p>We need to raise interest rates, at least to a neutral level, around 3%, but probably into restrictive territory.<b>Daly further said that the specific rate hike in September depends on the next economic data. 50 basis points or 75 basis points may be an appropriate rate hike range.</b></p><p><b>Although Daly's statement is relatively moderate, because she has always been relatively dovish, her claimed possible rate hike of 75 basis points still broke the market's expectation that the Fed would suspend rate hike or significantly narrow its rate hike.</b></p><p><b>She went further:</b></p><p><b>We don't want the market to think that the Fed's path is hump-shaped, that is, a rapid rate hike this year and a big rate cut next year.</b><b>How does the market react?</b></p><p><b>The market this week seems to have begun to react to the hawkish views of the Federal Reserve.</b></p><p>Major U.S. stock indexes have all fallen this week. The Nasdaq and S&P, which rose more than 3% last week, fell 2.62% and 1.21% respectively. The Nasdaq 100, which rose nearly 3% last week, fell 2.38%, both ending as of last week. The longest winning streak since November last year, set by four consecutive weeks of gains; The Dow, which rose nearly 3% last week, fell 0.16% and fell back after rebounding last week; The Russell 2000, which rose nearly 5% last week, fell 2.94%, ranking first in decline.</p><p>The yield on the 10-year U.S. Treasury Bond has risen by 40 basis points this month.</p><p>In addition, hawkish comments from senior Fed officials caused the dollar to soar,<a href=\"https://laohu8.com/S/USDindex.FOREX\">The US Dollar Index</a>It surged 2% this week, the biggest weekly gain since April 2020.</p><p><img src=\"https://static.tigerbbs.com/ba50522a5146d203646cf9defca7a42f\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p>The cryptocurrency's performance also appears to have been rippled by the Fed's hawkish stance, with a plunge on Friday.</p><p><img src=\"https://static.tigerbbs.com/4b9d3b186336496f29f7cb014dac4410\" tg-width=\"720\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/></p><p><b>Markets still expect the Fed to cut interest rates next year</b></p><p>Although the market believes that the Fed will \"do what it says\" and implement its hawkish stance this year, the market's expectations for the Fed to cut interest rates next year are getting higher and higher.</p><p><img src=\"https://static.tigerbbs.com/3263305c8596c88b8e08bf2006e1cf14\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BLK\">BlackRock</a>According to Ann-Katrin Petersen, senior investment strategist at the Investment Institute:</p><p>To bring inflation down to its 2% target, the Fed will have to suppress the economy.<b>But, in order to promote growth, the Fed will \"accept living with inflation\" at some point.</b>This dovish pivot is unlikely to happen anytime soon compared to what the market seems to expect right now, but this dovish pivot could come in 2023.</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>Senior Fed officials frequently voice hawks to \"set the tone\" for Powell's central bank meeting next week in advance?</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\">\nSenior Fed officials frequently voice hawks to \"set the tone\" for Powell's central bank meeting next week in advance?\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\">2022-08-20 09:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Recently, senior Fed officials have frequently hinted that controlling inflation remains the Fed's primary goal, even if rate hike may drag the U.S. economy into recession. The market believes that this may be a warm-up for Federal Reserve Chairman Jerome Powell's hawkish speech at the global central bank meeting next Friday. Next week, one of the financial events that attracts the most attention of global investors will be the Jackson Hole Global Central Bank Annual Meeting to be held in Wyoming, USA next Friday, August 26th. At this event, Federal Reserve Chairman Jerome Powell will deliver a speech to discuss the economic outlook, and the content of his speech may indicate the direction of borrowing costs in the United States.</p><p><b>Before Powell's views, other senior Fed officials have recently made hawkish remarks, which seem to be \"setting the tone\" for Powell's speech.</b></p><p>Fed watchers expect Powell to speak hawkish as he reinforces the central bank's goal of curbing inflation and controlling expectations of future price increases.</p><p><b>On Friday, August 19, Richmond Fed President Thomas Barkin said that the Fed must continue to fight inflation even if inflation leads the economy into recession.</b></p><p>Just a day ago, three senior Fed officials made hawkish comments.</p><p><b>St. Louis Fed President James Bullard, the Fed's big hawk, said he preferred the Fed's September rate hike of 75 basis points.</b></p><p>Bullard said he was considering supporting another sharp rate hike at the Fed's interest rate meeting next month, adding that he was not ready for the economy to have experienced the worst of surging inflation:</p><p>We should continue to quickly raise policy rates to levels that will put significant downward pressure on inflation. I really don't understand why rate hike should be put off until next year. When talking about next month's interest rate meeting, he said:</p><p>I'm now leaning towards rate hike 75 basis points again. I think we have a relatively good read of the economy and we have very high inflation, so I think it makes sense to continue raising policy rates and move into a range where we can control inflation.<b>On the same day, another hawkish Fed official, Kansas City Fed President Esther George, expressed similar views. She believes that U.S. inflation, while it may be easing, is still on the high side:</b></p><p>The U.S. CPI data for July is encouraging, but it seems too hasty to declare the Biden administration's victory in fighting inflation.<b>On Thursday, San Francisco Fed President Mary Daly, who has always been regarded as a dovish official of the Federal Reserve, believed that the Federal Reserve should raise interest rates \"slightly\" above 3% before the end of the year to cool inflation:</b></p><p>We need to raise interest rates, at least to a neutral level, around 3%, but probably into restrictive territory.<b>Daly further said that the specific rate hike in September depends on the next economic data. 50 basis points or 75 basis points may be an appropriate rate hike range.</b></p><p><b>Although Daly's statement is relatively moderate, because she has always been relatively dovish, her claimed possible rate hike of 75 basis points still broke the market's expectation that the Fed would suspend rate hike or significantly narrow its rate hike.</b></p><p><b>She went further:</b></p><p><b>We don't want the market to think that the Fed's path is hump-shaped, that is, a rapid rate hike this year and a big rate cut next year.</b><b>How does the market react?</b></p><p><b>The market this week seems to have begun to react to the hawkish views of the Federal Reserve.</b></p><p>Major U.S. stock indexes have all fallen this week. The Nasdaq and S&P, which rose more than 3% last week, fell 2.62% and 1.21% respectively. The Nasdaq 100, which rose nearly 3% last week, fell 2.38%, both ending as of last week. The longest winning streak since November last year, set by four consecutive weeks of gains; The Dow, which rose nearly 3% last week, fell 0.16% and fell back after rebounding last week; The Russell 2000, which rose nearly 5% last week, fell 2.94%, ranking first in decline.</p><p>The yield on the 10-year U.S. Treasury Bond has risen by 40 basis points this month.</p><p>In addition, hawkish comments from senior Fed officials caused the dollar to soar,<a href=\"https://laohu8.com/S/USDindex.FOREX\">The US Dollar Index</a>It surged 2% this week, the biggest weekly gain since April 2020.</p><p><img src=\"https://static.tigerbbs.com/ba50522a5146d203646cf9defca7a42f\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p>The cryptocurrency's performance also appears to have been rippled by the Fed's hawkish stance, with a plunge on Friday.</p><p><img src=\"https://static.tigerbbs.com/4b9d3b186336496f29f7cb014dac4410\" tg-width=\"720\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/></p><p><b>Markets still expect the Fed to cut interest rates next year</b></p><p>Although the market believes that the Fed will \"do what it says\" and implement its hawkish stance this year, the market's expectations for the Fed to cut interest rates next year are getting higher and higher.</p><p><img src=\"https://static.tigerbbs.com/3263305c8596c88b8e08bf2006e1cf14\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BLK\">BlackRock</a>According to Ann-Katrin Petersen, senior investment strategist at the Investment Institute:</p><p>To bring inflation down to its 2% target, the Fed will have to suppress the economy.<b>But, in order to promote growth, the Fed will \"accept living with inflation\" at some point.</b>This dovish pivot is unlikely to happen anytime soon compared to what the market seems to expect right now, but this dovish pivot could come in 2023.</body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3668238\">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/42d623bf2f962cffafc93d5db7d45f9c","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPXU":"三倍做空标普500ETF-ProShares","DJX":"1/100道琼斯","BK4581":"高盛持仓","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF","SDOW":"三倍做空道指30ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4534":"瑞士信贷持仓","SPY":"标普500ETF",".DJI":"道琼斯","SDS":"两倍做空标普500 ETF-ProShares",".SPX":"S&P 500 Index","QID":"两倍做空纳斯达克指数ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","OEF":"标普100指数ETF-iShares","BK4559":"巴菲特持仓","BK4504":"桥水持仓",".IXIC":"NASDAQ Composite","DDM":"2倍做多道指ETF-ProShares","BK4550":"红杉资本持仓","OEX":"标普100","DOG":"道指ETF-ProShares做空","SQQQ":"纳指三倍做空ETF","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF","SH":"做空标普500-Proshares"},"source_url":"https://wallstreetcn.com/articles/3668238","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"2260437405","content_text":"美联储高官们最近的频频发生暗示，控制通胀仍然是美联储的首要目标，即便加息可能会将美国经济拖入衰退。市场认为，这可能是在为下周五美联储主席鲍威尔在全球央行大会上的鹰派讲话预热。下周，最令全球投资者瞩目的财经事件之一就是8月26日下周五在美国怀俄明州举办的杰克逊霍尔全球央行年会了。在这场活动中，美联储主席鲍威尔将发表讲话，讨论经济前景，其讲话内容可能预示着美国的借贷成本走向。在鲍威尔发表观点之前，其他美联储高官最近纷纷发表鹰派言论，似乎是在为鲍威尔的讲话“定调”。美联储观察人士预计，鲍威尔将发表强硬言论，因为他强化了央行抑制通胀和控制未来物价上涨预期的目标。8月19日周五，里士满联储主席巴尔金（Thomas Barkin）表示，即使通胀导致经济陷入衰退，美联储也必须继续对抗通胀。就在一天前，三位美联储高官纷纷发表鹰派言论。美联储大鹰派圣路易斯联储主席布拉德（James Bullard）表示，他倾向于美联储9月加息75个基点。布拉德说，他正在考虑在下个月的美联储议息会议上支持再次大幅加息，并补充说他还没有准备好经济已经经历了通胀飙升的最糟糕时期：我们应该继续迅速将政策利率提高到将对通胀造成重大下行压力的水平。我真的不明白为什么要将加息拖到明年。在谈到下个月的议息会议时，他说：我现在倾向于再次加息75个基点。我认为我们对经济的解读相对较好，而且我们的通胀率非常高，所以我认为继续提高政策利率并进入能够控制通胀的区间是有意义的。同一天，另一位美联储鹰派官员堪萨斯城联储主席乔治（Esther George）也表达了类似的观点。她认为，美国通胀虽然可能正在趋于缓和，但仍然偏高：美国7月CPI数据是鼓舞人心的，但现在就宣布拜登政府抗通胀取得胜利还显得操之过急。周四，向来被视作美联储鸽派官员的旧金山联储主席戴利（Mary Daly）则认为，美联储应在年底前将利率“略微”提高到3%以上，以冷却通胀：我们需要提高利率，至少达到中性水平，约为3%，但可能会进入限制性区域。戴利进一步称，具体9月加息多少，要看接下来的经济数据，50个基点或者75个基点，都可能是合适的加息幅度。尽管戴利的表态相对温和，但由于她向来相对鸽派，她所称的可能加息75个基点，依然打破了市场对美联储暂停加息或者大幅收窄加息幅度的期待。她还进一步说：我们不希望市场认为美联储的路径是驼峰形的，即今年迅速加息，明年再大举降息。市场如何反应？本周的市场，似乎已经开始对美联储的鹰派观点做出反应。本周主要美股指均累计下跌，上周涨超3%的纳指和标普分别累跌2.62%和1.21%，上周涨近3%的纳斯达克100累跌2.38%，均结束截至上周连涨四周所创的去年11月以来最长连涨周；上周涨近3%的道指累跌0.16%，在上周反弹后回落；上周涨近5%的罗素2000累跌2.94%，跌幅居首。十年期美国国债收益率本月则已经走高了40个基点。此外，美联储高官们的鹰派言论导致美元飙升，美元指数本周飙升2%，这是自2020年4月以来的最大单周涨幅。加密货币的表现似乎也受到了美联储鹰派立场的波及，周五出现暴跌。市场仍预期明年美联储将降息尽管市场相信美联储今年内将“说到做到”，贯彻鹰派立场，但市场对明年美联储降息的预期却越来越高。贝莱德投资研究所高级投资策略师Ann-Katrin Petersen认为：为了将通胀率降至2%的目标，美联储将不得不压制经济。但是，为了促进增长，美联储将在某个时候“接受与通胀共存”。 与市场目前似乎预期的情况相比，这种鸽派转向不太可能在短期内出现，但这种鸽派转向可能会在2023年到来。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"SDS":0.6,"SDOW":0.6,"MNQmain":0.6,"IVV":0.6,"QQQ":0.6,"UDOW":0.6,"UPRO":0.6,"QID":0.6,"DJX":0.6,"SQQQ":0.6,"SPY":1,"ESmain":0.6,"OEF":0.6,"DXD":0.6,"NQmain":0.6,"TQQQ":0.6,"SPXU":0.6,"QLD":0.6,".DJI":1,".IXIC":1,"DDM":0.6,"OEX":0.6,".SPX":0.6,"DOG":0.6,"PSQ":0.6,"SH":0.6,"SSO":0.6}},"isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9072557294,"gmtCreate":1658070533018,"gmtModify":1676536100849,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SCHD\">$Schwab US Dividend Equity ETF(SCHD)$</a>..","listText":"<a href=\"https://ttm.financial/S/SCHD\">$Schwab US Dividend Equity ETF(SCHD)$</a>..","text":"$Schwab US Dividend Equity ETF(SCHD)$..","images":[{"img":"https://community-static.tradeup.com/news/14e9880ed0aa55b0f340323c0a053698","width":"1242","height":"2828"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9072557294","isVote":1,"tweetType":1,"viewCount":1037,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9052119125,"gmtCreate":1655136123967,"gmtModify":1676535568392,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052119125","repostId":"2243019507","repostType":4,"isVote":1,"tweetType":1,"viewCount":532,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9051546688,"gmtCreate":1654730514844,"gmtModify":1676535498085,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9051546688","repostId":"2242418978","repostType":2,"repost":{"id":"2242418978","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1654729288,"share":"https://ttm.financial/m/news/2242418978?lang=en_US&edition=fundamental","pubTime":"2022-06-09 07:01","market":"us","language":"en","title":"US STOCKS-Wall Street Ends down with U.S. Treasury Yields above 3%","url":"https://stock-news.laohu8.com/highlight/detail?id=2242418978","media":"Reuters","summary":"* Chip stocks tumble after Citi sounds alarm on Intel* Investors cautious ahead of CPI data on Frida","content":"<html><head></head><body><p>* Chip stocks tumble after Citi sounds alarm on Intel</p><p>* Investors cautious ahead of CPI data on Friday</p><p>U.S. stocks ended lower on Wednesday as Treasury yields rose above the psychologically important level of 3% and oil prices jumped, fanning worries about inflation and the outlook for interest rates.</p><p>The technology sector  fell, with shares of Intel Corp dropping after Citi Research said the chipmaker could pre-announce weaker-than-expected earnings for the second quarter. Other chip shares also declined.</p><p>Brent crude oil prices rose above $123 a barrel and hit a 13-week high, while the Dow Jones transportation average significantly underperformed the other main indexes on the day.</p><p>&#34;The 10-year Treasury yield is up over 3%. That&#39;s probably part of why we&#39;re seeing the drawdown in the market today,&#34; said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.</p><p>&#34;That level is what people are focused on because it represents an increase in interest rates and a reflection of inflation and market volatility.&#34;</p><p>U.S. benchmark 10-year Treasury yields rose  after the U.S. Treasury Department saw tepid demand for a sale of 10-year notes.</p><p>According to preliminary data, the S&amp;P 500 lost 45.18 points, or 1.09%, to end at 4,115.50 points, while the Nasdaq Composite    lost 90.15 points, or 0.74%, to 12,085.09. The Dow Jones Industrial Average    fell 273.57 points, or 0.82%, to 32,906.57.</p><p>Investors are also cautious ahead of U.S. consumer price data on Friday morning. The report is expected to show that inflation remained elevated in May, though core consumer prices - which exclude the volatile food and energy sectors - likely ticked down on an annual basis.</p><p>&#34;People looking for the peak inflation narrative keep getting hit in the face every day as energy goes up,&#34; said Thomas Hayes, managing member at Great Hill Capital LLC in New York.</p><p>The U.S. Federal Reserve is expected to raise rates by 50 basis points at each of its June and July meetings, with a similar move also likely in September, in an effort to combat inflation.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US STOCKS-Wall Street Ends down with U.S. Treasury Yields above 3%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Ends down with U.S. Treasury Yields above 3%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-06-09 07:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Chip stocks tumble after Citi sounds alarm on Intel</p><p>* Investors cautious ahead of CPI data on Friday</p><p>U.S. stocks ended lower on Wednesday as Treasury yields rose above the psychologically important level of 3% and oil prices jumped, fanning worries about inflation and the outlook for interest rates.</p><p>The technology sector  fell, with shares of Intel Corp dropping after Citi Research said the chipmaker could pre-announce weaker-than-expected earnings for the second quarter. Other chip shares also declined.</p><p>Brent crude oil prices rose above $123 a barrel and hit a 13-week high, while the Dow Jones transportation average significantly underperformed the other main indexes on the day.</p><p>&#34;The 10-year Treasury yield is up over 3%. That&#39;s probably part of why we&#39;re seeing the drawdown in the market today,&#34; said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.</p><p>&#34;That level is what people are focused on because it represents an increase in interest rates and a reflection of inflation and market volatility.&#34;</p><p>U.S. benchmark 10-year Treasury yields rose  after the U.S. Treasury Department saw tepid demand for a sale of 10-year notes.</p><p>According to preliminary data, the S&amp;P 500 lost 45.18 points, or 1.09%, to end at 4,115.50 points, while the Nasdaq Composite    lost 90.15 points, or 0.74%, to 12,085.09. The Dow Jones Industrial Average    fell 273.57 points, or 0.82%, to 32,906.57.</p><p>Investors are also cautious ahead of U.S. consumer price data on Friday morning. The report is expected to show that inflation remained elevated in May, though core consumer prices - which exclude the volatile food and energy sectors - likely ticked down on an annual basis.</p><p>&#34;People looking for the peak inflation narrative keep getting hit in the face every day as energy goes up,&#34; said Thomas Hayes, managing member at Great Hill Capital LLC in New York.</p><p>The U.S. Federal Reserve is expected to raise rates by 50 basis points at each of its June and July meetings, with a similar move also likely in September, in an effort to combat inflation.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","TQQQ":"纳指三倍做多ETF","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4529":"IDC概念","BK4575":"芯片概念","SDOW":"三倍做空道指30ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DJX":"1/100道琼斯",".DJI":"道琼斯","BK4535":"淡马锡持仓","INTC":"英特尔","BK4515":"5G概念","BK4579":"人工智能","BK4550":"红杉资本持仓","DXD":"两倍做空道琼30指数ETF-ProShares","QID":"两倍做空纳斯达克指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares",".IXIC":"NASDAQ Composite","DOG":"道指ETF-ProShares做空","SQQQ":"纳指三倍做空ETF","UDOW":"三倍做多道指30ETF-ProShares","BK4141":"半导体产品","BK4554":"元宇宙及AR概念","BK4512":"苹果概念","PSQ":"做空纳斯达克100指数ETF-ProShares","BK4527":"明星科技股","QQQ":"纳指100ETF","BK4534":"瑞士信贷持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2242418978","content_text":"* Chip stocks tumble after Citi sounds alarm on Intel* Investors cautious ahead of CPI data on FridayU.S. stocks ended lower on Wednesday as Treasury yields rose above the psychologically important level of 3% and oil prices jumped, fanning worries about inflation and the outlook for interest rates.The technology sector  fell, with shares of Intel Corp dropping after Citi Research said the chipmaker could pre-announce weaker-than-expected earnings for the second quarter. Other chip shares also declined.Brent crude oil prices rose above $123 a barrel and hit a 13-week high, while the Dow Jones transportation average significantly underperformed the other main indexes on the day.\"The 10-year Treasury yield is up over 3%. That's probably part of why we're seeing the drawdown in the market today,\" said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.\"That level is what people are focused on because it represents an increase in interest rates and a reflection of inflation and market volatility.\"U.S. benchmark 10-year Treasury yields rose  after the U.S. Treasury Department saw tepid demand for a sale of 10-year notes.According to preliminary data, the S&P 500 lost 45.18 points, or 1.09%, to end at 4,115.50 points, while the Nasdaq Composite    lost 90.15 points, or 0.74%, to 12,085.09. The Dow Jones Industrial Average    fell 273.57 points, or 0.82%, to 32,906.57.Investors are also cautious ahead of U.S. consumer price data on Friday morning. The report is expected to show that inflation remained elevated in May, though core consumer prices - which exclude the volatile food and energy sectors - likely ticked down on an annual basis.\"People looking for the peak inflation narrative keep getting hit in the face every day as energy goes up,\" said Thomas Hayes, managing member at Great Hill Capital LLC in New York.The U.S. Federal Reserve is expected to raise rates by 50 basis points at each of its June and July meetings, with a similar move also likely in September, in an effort to combat inflation.","news_type":1,"symbols_score_info":{"MNQmain":0.6,"DJX":0.6,".SPX":0.9,"DXD":0.6,"SDOW":0.6,"QLD":0.6,"INTC":0.9,"TQQQ":0.6,"QID":0.6,"DOG":0.6,"UDOW":0.6,"PSQ":0.6,".DJI":0.9,"DDM":0.6,".IXIC":0.9,"NQmain":0.6,"SQQQ":0.6,"QQQ":0.6}},"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9056652856,"gmtCreate":1655007135275,"gmtModify":1676535547705,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9056652856","repostId":"2242306965","repostType":4,"repost":{"id":"2242306965","kind":"highlight","pubTimestamp":1655005845,"share":"https://ttm.financial/m/news/2242306965?lang=en_US&edition=fundamental","pubTime":"2022-06-12 11:50","market":"us","language":"en","title":"Alibaba: Fear Of Missing Out? Do Not Miss The Boat Again","url":"https://stock-news.laohu8.com/highlight/detail?id=2242306965","media":"Seekingalpha","summary":"Investment ThesisSince our last analysis, Alibaba Group Holding Limited (NYSE:BABA) has risen by 18.","content":"<html><head></head><body><h2><b>Investment Thesis</b></h2><p>Since our last analysis, Alibaba Group Holding Limited (NYSE:BABA) has risen by 18.59%, from $92.67 on 17 May 2022 to $109.90 on 9 June 2022. It is evident that the recovery has been swift, given the multiple positive tailwinds in its direction. However, with the shaky Chinese stock market, it is uncertain if the gains could hold and trigger a bull run for BABA.</p><p>However, if we were to split up China&#39;s unrelenting COVID-19 strategies and the potential easing of big tech punishment, BABA&#39;s recovery is almost certain, given its good execution in FQ4&#39;22. That would be <a href=\"https://laohu8.com/S/AONE.U\">one</a> highly welcomed news, given how dreary the stock market looks right now, given that BABA had recovered 28.04% of its value in the past month compared to S&amp;P 500 Index at 0.42%. Opportune investors would be well advised to take advantage of the current bear market to add more undervalued stocks to their portfolios, since it is entirely possible that the time of maximum pain is over.</p><p>Nevertheless, investors hoping for the revival of ANT IPO would definitely be disappointed, since the Chinese government denied the news report, leading to a -8.13% stock decline from $119.62 on 8 June 2022.</p><h2>BABA Closed Off FY2022 Beautifully Despite Macro Issues</h2><p><b>BABA Revenue and Gross Income</b></p><p></p><p><img src=\"https://static.tigerbbs.com/0bddd3fb20de09e66cd1e37175083889\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>S&amp;P Capital IQ</p><p>In FQ4&#39;22, BABA reported revenues of $32.18B, representing excellent YoY growth of 12.51%, despite the enforced lockdowns in multiple Chinese cities. Though the company&#39;s declining gross margins may worry some investors, we could attribute it partly to the inflation caused by global supply chain issues and China&#39;s Zero Covid Policy and reinvestments into its businesses, and therefore, temporary.</p><p><b>BABA Revenue By Segment</b></p><p></p><p><img src=\"https://static.tigerbbs.com/5beecf897ef22504ee5d40ec234fb7c9\" tg-width=\"640\" tg-height=\"395\" referrerpolicy=\"no-referrer\"/></p><p>S&amp;P Capital IQ</p><p>It is evident that BABA&#39;s e-commerce segment continues to be the revenue driver, with 13.1% YoY growth while accounting for the majority of its revenue at 86.6%. Its cloud segment also reported remarkable growth with an increase of 16.7% increase YoY, despite the impact of COVID restrictions and reduced demand from the tech industry.</p><p><b>BABA Net Income and Net Income Margin</b></p><p></p><p><img src=\"https://static.tigerbbs.com/5dc8d3c27a586f36ff581a18d27e41c7\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>S&amp;P Capital IQ</p><p>BABA&#39;s net income also grew from -$0.82B in FQ4&#39;21 to $0.45B in FQ4&#39;22, thereby improving its net income margins YoY from -2.9% to 2.8%, respectively.</p><p><b>BABA Cash/ Equivalents, FCF, and FCF Margins</b></p><p></p><p><img src=\"https://static.tigerbbs.com/4595749199296e7f0bad57afe634ddd0\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>S&amp;P Capital IQ</p><p>Nonetheless, it is also apparent that the generation of BABA&#39;s previously robust free cash flows is declining, given the decreasing profitability and its payment towards the Anti-monopoly fine at approximately $1.36B. However, since the latter represents the final payment towards the Chinese government, we may expect improved FCF from FQ1&#39;23 onwards.</p><p><b>BABA Operating Expense</b></p><p></p><p><img src=\"https://static.tigerbbs.com/e09cc638b935d072afe2e931e33e1995\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/></p><p>S&amp;P Capital IQ</p><p>Given BABA&#39;s continuous efforts to improve its operating efficiencies by cutting jobs in March 2022 and enhancing its logistical costs, we may also see improved operating margins moving ahead. We can see hints of these improvements in FQ4&#39;22, where the company spent $7.19B in its operating expenses in FQ4&#39;22, representing a 25% decrease QoQ in R&amp;D, Selling/Marketing, and General/Administrative expenses. Assuming that BABA continues on this cost reduction path, we are confident of BABA&#39;s capabilities in improving its profitability moving forward.</p><p><b>BABA Projected Revenue and Net Income</b></p><p></p><p><img src=\"https://static.tigerbbs.com/eab3c1f73050159ba48c5b0ef34aaaef\" tg-width=\"640\" tg-height=\"395\" referrerpolicy=\"no-referrer\"/></p><p>S&amp;P Capital IQ</p><p>Since our previous analysis in May 2022, BABA&#39;s revenue growth has been upgraded from a CAGR of 7.09% to 9.33%, though its net income is projected to grow even faster from a CAGR of 38.94% to 56.53%. For FY2023, consensus estimates also upgraded its revenue growth to 3.62% YoY, thereby underlining their optimistic view on the recovery of BABA stock and the overall Chinese market. Assuming the stabilization of the Chinese economy as per the government&#39;s intention with a GDP target of 5.5%, we could potentially see an upwards rerating of BABA&#39;s projected revenue and net income growth moving forward. We shall see.</p><h2><b>So, Is BABA Stock A Buy, Sell, Or Hold?</b></h2><p><b>BABA 5Y EV/Revenue and P/E Valuations</b></p><p></p><p><img src=\"https://static.tigerbbs.com/30d659fd1b639f4a0b0ba027100df036\" tg-width=\"640\" tg-height=\"221\" referrerpolicy=\"no-referrer\"/></p><p>S&amp;P Capital IQ</p><p>BABA is currently trading at an EV/NTM Revenue of 1.92x and NTM P/E of 14.73x, lower than its 5Y mean of 6.29x and 25.10x, respectively. The stock is also trading at $109.90, down 52.4% from its 52 weeks high of $230.89, though already at a 49.9% premium from its 52 weeks low of $73.28.</p><p><b>BABA 5Y Stock Price</b></p><p></p><p><img src=\"https://static.tigerbbs.com/b57cbc8c4a7a3a3577e51256f83f2e97\" tg-width=\"640\" tg-height=\"219\" referrerpolicy=\"no-referrer\"/></p><p>Seeking Alpha</p><p>Nonetheless, given the consensus estimates price target of $170.89 for BABA, investors who add now would still have a 55.5% upside from current prices. It is also evident from the chart that its pre-pandemic prices stand at $170s before rallying to over $300 during the ANT IPO hype.</p><p>Therefore, it is not too late to back up the truck and load up on BABA now.</p><p>Therefore, we <i>rate BABA stock as a Buy.</i></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: Fear Of Missing Out? Do Not Miss The Boat Again</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba: Fear Of Missing Out? Do Not Miss The Boat Again\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-12 11:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4517691-alibaba-fomo-do-not-miss-boat-again><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investment ThesisSince our last analysis, Alibaba Group Holding Limited (NYSE:BABA) has risen by 18.59%, from $92.67 on 17 May 2022 to $109.90 on 9 June 2022. It is evident that the recovery has been ...</p>\n\n<a href=\"https://seekingalpha.com/article/4517691-alibaba-fomo-do-not-miss-boat-again\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4517691-alibaba-fomo-do-not-miss-boat-again","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2242306965","content_text":"Investment ThesisSince our last analysis, Alibaba Group Holding Limited (NYSE:BABA) has risen by 18.59%, from $92.67 on 17 May 2022 to $109.90 on 9 June 2022. It is evident that the recovery has been swift, given the multiple positive tailwinds in its direction. However, with the shaky Chinese stock market, it is uncertain if the gains could hold and trigger a bull run for BABA.However, if we were to split up China's unrelenting COVID-19 strategies and the potential easing of big tech punishment, BABA's recovery is almost certain, given its good execution in FQ4'22. That would be one highly welcomed news, given how dreary the stock market looks right now, given that BABA had recovered 28.04% of its value in the past month compared to S&P 500 Index at 0.42%. Opportune investors would be well advised to take advantage of the current bear market to add more undervalued stocks to their portfolios, since it is entirely possible that the time of maximum pain is over.Nevertheless, investors hoping for the revival of ANT IPO would definitely be disappointed, since the Chinese government denied the news report, leading to a -8.13% stock decline from $119.62 on 8 June 2022.BABA Closed Off FY2022 Beautifully Despite Macro IssuesBABA Revenue and Gross IncomeS&P Capital IQIn FQ4'22, BABA reported revenues of $32.18B, representing excellent YoY growth of 12.51%, despite the enforced lockdowns in multiple Chinese cities. Though the company's declining gross margins may worry some investors, we could attribute it partly to the inflation caused by global supply chain issues and China's Zero Covid Policy and reinvestments into its businesses, and therefore, temporary.BABA Revenue By SegmentS&P Capital IQIt is evident that BABA's e-commerce segment continues to be the revenue driver, with 13.1% YoY growth while accounting for the majority of its revenue at 86.6%. Its cloud segment also reported remarkable growth with an increase of 16.7% increase YoY, despite the impact of COVID restrictions and reduced demand from the tech industry.BABA Net Income and Net Income MarginS&P Capital IQBABA's net income also grew from -$0.82B in FQ4'21 to $0.45B in FQ4'22, thereby improving its net income margins YoY from -2.9% to 2.8%, respectively.BABA Cash/ Equivalents, FCF, and FCF MarginsS&P Capital IQNonetheless, it is also apparent that the generation of BABA's previously robust free cash flows is declining, given the decreasing profitability and its payment towards the Anti-monopoly fine at approximately $1.36B. However, since the latter represents the final payment towards the Chinese government, we may expect improved FCF from FQ1'23 onwards.BABA Operating ExpenseS&P Capital IQGiven BABA's continuous efforts to improve its operating efficiencies by cutting jobs in March 2022 and enhancing its logistical costs, we may also see improved operating margins moving ahead. We can see hints of these improvements in FQ4'22, where the company spent $7.19B in its operating expenses in FQ4'22, representing a 25% decrease QoQ in R&D, Selling/Marketing, and General/Administrative expenses. Assuming that BABA continues on this cost reduction path, we are confident of BABA's capabilities in improving its profitability moving forward.BABA Projected Revenue and Net IncomeS&P Capital IQSince our previous analysis in May 2022, BABA's revenue growth has been upgraded from a CAGR of 7.09% to 9.33%, though its net income is projected to grow even faster from a CAGR of 38.94% to 56.53%. For FY2023, consensus estimates also upgraded its revenue growth to 3.62% YoY, thereby underlining their optimistic view on the recovery of BABA stock and the overall Chinese market. Assuming the stabilization of the Chinese economy as per the government's intention with a GDP target of 5.5%, we could potentially see an upwards rerating of BABA's projected revenue and net income growth moving forward. We shall see.So, Is BABA Stock A Buy, Sell, Or Hold?BABA 5Y EV/Revenue and P/E ValuationsS&P Capital IQBABA is currently trading at an EV/NTM Revenue of 1.92x and NTM P/E of 14.73x, lower than its 5Y mean of 6.29x and 25.10x, respectively. The stock is also trading at $109.90, down 52.4% from its 52 weeks high of $230.89, though already at a 49.9% premium from its 52 weeks low of $73.28.BABA 5Y Stock PriceSeeking AlphaNonetheless, given the consensus estimates price target of $170.89 for BABA, investors who add now would still have a 55.5% upside from current prices. It is also evident from the chart that its pre-pandemic prices stand at $170s before rallying to over $300 during the ANT IPO hype.Therefore, it is not too late to back up the truck and load up on BABA now.Therefore, we rate BABA stock as a Buy.","news_type":1,"symbols_score_info":{"BABA":1,"09988":0.6}},"isVote":1,"tweetType":1,"viewCount":742,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9994790190,"gmtCreate":1661689023214,"gmtModify":1676536561298,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9994790190","repostId":"1175369432","repostType":4,"repost":{"id":"1175369432","kind":"news","pubTimestamp":1661663001,"share":"https://ttm.financial/m/news/1175369432?lang=en_US&edition=fundamental","pubTime":"2022-08-28 13:03","market":"hk","language":"zh","title":"Ideal responds to the delayed delivery of L9: due to the delay in supply from the Sichuan range extender factory","url":"https://stock-news.laohu8.com/highlight/detail?id=1175369432","media":"中新经纬","summary":"据悉，理想L9此前预计8月底开始交付。","content":"<p><html><head></head><body>Author: Niu Chaoge</p><p>On the 28th, in response to the delayed delivery of Ideal L9 reported online,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>The customer service staff confirmed, \"Due to the power shortage in Sichuan, the supply of Li Auto's range extender factory in Mianyang, Sichuan was delayed, resulting in the delay in the delivery of the ideal L9.\"</p><p>According to online information, Li Auto released the \"Ideal L9 Delivery Time Extension Announcement\" in the official App.</p><p>\"The announcement of delayed delivery will only be pushed to the car owner who placed the order, and other users will not receive it.\" The above customer service said.</p><p>According to screenshots posted by netizens, for users who show delivery within August in the Li Auto App, it is expected that the delivery will be carried out for users from August 30 to September 4. If the user can't deliver the car until September due to the delay of the vehicle, the official A 1,000 yuan fuel card will be provided as user compensation. The App shows users delivered in September, and the vehicle will still be delivered within September.</p><p>\"The specific extension time still requires communication between the owner and the delivery expert. I am not a user who has placed an order, and I can't see the announcement.\" The above customer service said.</p><p>It is reported that the Ideal L9 was previously expected to start delivery at the end of August. It is worth noting that in the second quarter financial report meeting, Ideal's senior executives gave pessimistic expectations for the delivery volume of 27,000 to 29,000 vehicles in the third quarter.</p><p></body></html></p>","source":"zxjw","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>Ideal responds to the delayed delivery of L9: due to the delay in supply from the Sichuan range extender factory</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\">\nIdeal responds to the delayed delivery of L9: due to the delay in supply from the Sichuan range extender factory\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中新经纬</strong><span class=\"h-time small\">2022-08-28 13:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Niu Chaoge</p><p>On the 28th, in response to the delayed delivery of Ideal L9 reported online,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>The customer service staff confirmed, \"Due to the power shortage in Sichuan, the supply of Li Auto's range extender factory in Mianyang, Sichuan was delayed, resulting in the delay in the delivery of the ideal L9.\"</p><p>According to online information, Li Auto released the \"Ideal L9 Delivery Time Extension Announcement\" in the official App.</p><p>\"The announcement of delayed delivery will only be pushed to the car owner who placed the order, and other users will not receive it.\" The above customer service said.</p><p>According to screenshots posted by netizens, for users who show delivery within August in the Li Auto App, it is expected that the delivery will be carried out for users from August 30 to September 4. If the user can't deliver the car until September due to the delay of the vehicle, the official A 1,000 yuan fuel card will be provided as user compensation. The App shows users delivered in September, and the vehicle will still be delivered within September.</p><p>\"The specific extension time still requires communication between the owner and the delivery expert. I am not a user who has placed an order, and I can't see the announcement.\" The above customer service said.</p><p>It is reported that the Ideal L9 was previously expected to start delivery at the end of August. It is worth noting that in the second quarter financial report meeting, Ideal's senior executives gave pessimistic expectations for the delivery volume of 27,000 to 29,000 vehicles in the third quarter.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.jwview.com/jingwei/html/08-28/500954.shtml\">中新经纬</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cfd0e1f3d1695da2f5dabecfbac4bc57","relate_stocks":{"LI":"理想汽车","02015":"理想汽车-W"},"source_url":"http://www.jwview.com/jingwei/html/08-28/500954.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175369432","content_text":"作者：牛朝阁28日，针对网传理想L9延期交付一事，理想汽车客服人员给予了确认，“因四川地区电力紧张，理想汽车在四川绵阳的增程器工厂供应延迟，导致理想L9交付延期。”据网传信息显示，理想汽车在官方App中发布了“理想L9交付时间延期公告”。“延期交付的公告只会推送给下订单的车主，其他用户不会收到。”上述客服表示。根据网友晒出的截图，对于在理想汽车App内显示8月内交付的用户，预计将在8月30日至9月4日为用户进行交付，由于车辆延期导致用户9月才能交车的，官方将提供1000元油卡作为用户补偿。App内显示9月交付的用户，车辆则仍会在9月内完成交付。“具体的延期时间还需要车主和交付专家沟通。我也不是已下订单用户，也看不到公告。”上述客服表示。据悉，理想L9此前预计8月底开始交付。值得注意的是，在二季度财报会中，理想高层人员曾对三季度交付量给出了2.7万辆至2.9万辆的悲观预期。","news_type":1,"symbols_score_info":{"LI":0.9,"02015":0.9}},"isVote":1,"tweetType":1,"viewCount":871,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9071291580,"gmtCreate":1657532629040,"gmtModify":1676536021203,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SCHD\">$Schwab US Dividend Equity ETF(SCHD)$</a>..","listText":"<a href=\"https://ttm.financial/S/SCHD\">$Schwab US Dividend Equity ETF(SCHD)$</a>..","text":"$Schwab US Dividend Equity ETF(SCHD)$..","images":[{"img":"https://community-static.tradeup.com/news/024a09a8790b76d21e866865e8ff2bae","width":"1242","height":"1968"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9071291580","isVote":1,"tweetType":1,"viewCount":447,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9998617207,"gmtCreate":1660979244610,"gmtModify":1676536434849,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9998617207","repostId":"2260437405","repostType":4,"repost":{"id":"2260437405","kind":"news","pubTimestamp":1660960527,"share":"https://ttm.financial/m/news/2260437405?lang=en_US&edition=fundamental","pubTime":"2022-08-20 09:55","market":"us","language":"zh","title":"Senior Fed officials frequently voice hawks to \"set the tone\" for Powell's central bank meeting next week in advance?","url":"https://stock-news.laohu8.com/highlight/detail?id=2260437405","media":"华尔街见闻","summary":"美联储高官们最近的频频发生暗示，控制通胀仍然是美联储的首要目标，即便加息可能会将美国经济拖入衰退。市场认为，这可能是在为下周五美联储主席鲍威尔在全球央行大会上的鹰派讲话预热。下周，最令全球投资者瞩目的","content":"<p><html><head></head><body>Recently, senior Fed officials have frequently hinted that controlling inflation remains the Fed's primary goal, even if rate hike may drag the U.S. economy into recession. The market believes that this may be a warm-up for Federal Reserve Chairman Jerome Powell's hawkish speech at the global central bank meeting next Friday. Next week, one of the financial events that attracts the most attention of global investors will be the Jackson Hole Global Central Bank Annual Meeting to be held in Wyoming, USA next Friday, August 26th. At this event, Federal Reserve Chairman Jerome Powell will deliver a speech to discuss the economic outlook, and the content of his speech may indicate the direction of borrowing costs in the United States.</p><p><b>Before Powell's views, other senior Fed officials have recently made hawkish remarks, which seem to be \"setting the tone\" for Powell's speech.</b></p><p>Fed watchers expect Powell to speak hawkish as he reinforces the central bank's goal of curbing inflation and controlling expectations of future price increases.</p><p><b>On Friday, August 19, Richmond Fed President Thomas Barkin said that the Fed must continue to fight inflation even if inflation leads the economy into recession.</b></p><p>Just a day ago, three senior Fed officials made hawkish comments.</p><p><b>St. Louis Fed President James Bullard, the Fed's big hawk, said he preferred the Fed's September rate hike of 75 basis points.</b></p><p>Bullard said he was considering supporting another sharp rate hike at the Fed's interest rate meeting next month, adding that he was not ready for the economy to have experienced the worst of surging inflation:</p><p>We should continue to quickly raise policy rates to levels that will put significant downward pressure on inflation. I really don't understand why rate hike should be put off until next year. When talking about next month's interest rate meeting, he said:</p><p>I'm now leaning towards rate hike 75 basis points again. I think we have a relatively good read of the economy and we have very high inflation, so I think it makes sense to continue raising policy rates and move into a range where we can control inflation.<b>On the same day, another hawkish Fed official, Kansas City Fed President Esther George, expressed similar views. She believes that U.S. inflation, while it may be easing, is still on the high side:</b></p><p>The U.S. CPI data for July is encouraging, but it seems too hasty to declare the Biden administration's victory in fighting inflation.<b>On Thursday, San Francisco Fed President Mary Daly, who has always been regarded as a dovish official of the Federal Reserve, believed that the Federal Reserve should raise interest rates \"slightly\" above 3% before the end of the year to cool inflation:</b></p><p>We need to raise interest rates, at least to a neutral level, around 3%, but probably into restrictive territory.<b>Daly further said that the specific rate hike in September depends on the next economic data. 50 basis points or 75 basis points may be an appropriate rate hike range.</b></p><p><b>Although Daly's statement is relatively moderate, because she has always been relatively dovish, her claimed possible rate hike of 75 basis points still broke the market's expectation that the Fed would suspend rate hike or significantly narrow its rate hike.</b></p><p><b>She went further:</b></p><p><b>We don't want the market to think that the Fed's path is hump-shaped, that is, a rapid rate hike this year and a big rate cut next year.</b><b>How does the market react?</b></p><p><b>The market this week seems to have begun to react to the hawkish views of the Federal Reserve.</b></p><p>Major U.S. stock indexes have all fallen this week. The Nasdaq and S&P, which rose more than 3% last week, fell 2.62% and 1.21% respectively. The Nasdaq 100, which rose nearly 3% last week, fell 2.38%, both ending as of last week. The longest winning streak since November last year, set by four consecutive weeks of gains; The Dow, which rose nearly 3% last week, fell 0.16% and fell back after rebounding last week; The Russell 2000, which rose nearly 5% last week, fell 2.94%, ranking first in decline.</p><p>The yield on the 10-year U.S. Treasury Bond has risen by 40 basis points this month.</p><p>In addition, hawkish comments from senior Fed officials caused the dollar to soar,<a href=\"https://laohu8.com/S/USDindex.FOREX\">The US Dollar Index</a>It surged 2% this week, the biggest weekly gain since April 2020.</p><p><img src=\"https://static.tigerbbs.com/ba50522a5146d203646cf9defca7a42f\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p>The cryptocurrency's performance also appears to have been rippled by the Fed's hawkish stance, with a plunge on Friday.</p><p><img src=\"https://static.tigerbbs.com/4b9d3b186336496f29f7cb014dac4410\" tg-width=\"720\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/></p><p><b>Markets still expect the Fed to cut interest rates next year</b></p><p>Although the market believes that the Fed will \"do what it says\" and implement its hawkish stance this year, the market's expectations for the Fed to cut interest rates next year are getting higher and higher.</p><p><img src=\"https://static.tigerbbs.com/3263305c8596c88b8e08bf2006e1cf14\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BLK\">BlackRock</a>According to Ann-Katrin Petersen, senior investment strategist at the Investment Institute:</p><p>To bring inflation down to its 2% target, the Fed will have to suppress the economy.<b>But, in order to promote growth, the Fed will \"accept living with inflation\" at some point.</b>This dovish pivot is unlikely to happen anytime soon compared to what the market seems to expect right now, but this dovish pivot could come in 2023.</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>Senior Fed officials frequently voice hawks to \"set the tone\" for Powell's central bank meeting next week in advance?</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\">\nSenior Fed officials frequently voice hawks to \"set the tone\" for Powell's central bank meeting next week in advance?\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\">2022-08-20 09:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Recently, senior Fed officials have frequently hinted that controlling inflation remains the Fed's primary goal, even if rate hike may drag the U.S. economy into recession. The market believes that this may be a warm-up for Federal Reserve Chairman Jerome Powell's hawkish speech at the global central bank meeting next Friday. Next week, one of the financial events that attracts the most attention of global investors will be the Jackson Hole Global Central Bank Annual Meeting to be held in Wyoming, USA next Friday, August 26th. At this event, Federal Reserve Chairman Jerome Powell will deliver a speech to discuss the economic outlook, and the content of his speech may indicate the direction of borrowing costs in the United States.</p><p><b>Before Powell's views, other senior Fed officials have recently made hawkish remarks, which seem to be \"setting the tone\" for Powell's speech.</b></p><p>Fed watchers expect Powell to speak hawkish as he reinforces the central bank's goal of curbing inflation and controlling expectations of future price increases.</p><p><b>On Friday, August 19, Richmond Fed President Thomas Barkin said that the Fed must continue to fight inflation even if inflation leads the economy into recession.</b></p><p>Just a day ago, three senior Fed officials made hawkish comments.</p><p><b>St. Louis Fed President James Bullard, the Fed's big hawk, said he preferred the Fed's September rate hike of 75 basis points.</b></p><p>Bullard said he was considering supporting another sharp rate hike at the Fed's interest rate meeting next month, adding that he was not ready for the economy to have experienced the worst of surging inflation:</p><p>We should continue to quickly raise policy rates to levels that will put significant downward pressure on inflation. I really don't understand why rate hike should be put off until next year. When talking about next month's interest rate meeting, he said:</p><p>I'm now leaning towards rate hike 75 basis points again. I think we have a relatively good read of the economy and we have very high inflation, so I think it makes sense to continue raising policy rates and move into a range where we can control inflation.<b>On the same day, another hawkish Fed official, Kansas City Fed President Esther George, expressed similar views. She believes that U.S. inflation, while it may be easing, is still on the high side:</b></p><p>The U.S. CPI data for July is encouraging, but it seems too hasty to declare the Biden administration's victory in fighting inflation.<b>On Thursday, San Francisco Fed President Mary Daly, who has always been regarded as a dovish official of the Federal Reserve, believed that the Federal Reserve should raise interest rates \"slightly\" above 3% before the end of the year to cool inflation:</b></p><p>We need to raise interest rates, at least to a neutral level, around 3%, but probably into restrictive territory.<b>Daly further said that the specific rate hike in September depends on the next economic data. 50 basis points or 75 basis points may be an appropriate rate hike range.</b></p><p><b>Although Daly's statement is relatively moderate, because she has always been relatively dovish, her claimed possible rate hike of 75 basis points still broke the market's expectation that the Fed would suspend rate hike or significantly narrow its rate hike.</b></p><p><b>She went further:</b></p><p><b>We don't want the market to think that the Fed's path is hump-shaped, that is, a rapid rate hike this year and a big rate cut next year.</b><b>How does the market react?</b></p><p><b>The market this week seems to have begun to react to the hawkish views of the Federal Reserve.</b></p><p>Major U.S. stock indexes have all fallen this week. The Nasdaq and S&P, which rose more than 3% last week, fell 2.62% and 1.21% respectively. The Nasdaq 100, which rose nearly 3% last week, fell 2.38%, both ending as of last week. The longest winning streak since November last year, set by four consecutive weeks of gains; The Dow, which rose nearly 3% last week, fell 0.16% and fell back after rebounding last week; The Russell 2000, which rose nearly 5% last week, fell 2.94%, ranking first in decline.</p><p>The yield on the 10-year U.S. Treasury Bond has risen by 40 basis points this month.</p><p>In addition, hawkish comments from senior Fed officials caused the dollar to soar,<a href=\"https://laohu8.com/S/USDindex.FOREX\">The US Dollar Index</a>It surged 2% this week, the biggest weekly gain since April 2020.</p><p><img src=\"https://static.tigerbbs.com/ba50522a5146d203646cf9defca7a42f\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p>The cryptocurrency's performance also appears to have been rippled by the Fed's hawkish stance, with a plunge on Friday.</p><p><img src=\"https://static.tigerbbs.com/4b9d3b186336496f29f7cb014dac4410\" tg-width=\"720\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/></p><p><b>Markets still expect the Fed to cut interest rates next year</b></p><p>Although the market believes that the Fed will \"do what it says\" and implement its hawkish stance this year, the market's expectations for the Fed to cut interest rates next year are getting higher and higher.</p><p><img src=\"https://static.tigerbbs.com/3263305c8596c88b8e08bf2006e1cf14\" tg-width=\"720\" tg-height=\"386\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BLK\">BlackRock</a>According to Ann-Katrin Petersen, senior investment strategist at the Investment Institute:</p><p>To bring inflation down to its 2% target, the Fed will have to suppress the economy.<b>But, in order to promote growth, the Fed will \"accept living with inflation\" at some point.</b>This dovish pivot is unlikely to happen anytime soon compared to what the market seems to expect right now, but this dovish pivot could come in 2023.</body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3668238\">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/42d623bf2f962cffafc93d5db7d45f9c","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPXU":"三倍做空标普500ETF-ProShares","DJX":"1/100道琼斯","BK4581":"高盛持仓","SSO":"2倍做多标普500ETF-ProShares","TQQQ":"纳指三倍做多ETF","SDOW":"三倍做空道指30ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4534":"瑞士信贷持仓","SPY":"标普500ETF",".DJI":"道琼斯","SDS":"两倍做空标普500 ETF-ProShares",".SPX":"S&P 500 Index","QID":"两倍做空纳斯达克指数ETF-ProShares","DXD":"两倍做空道琼30指数ETF-ProShares","OEF":"标普100指数ETF-iShares","BK4559":"巴菲特持仓","BK4504":"桥水持仓",".IXIC":"NASDAQ Composite","DDM":"2倍做多道指ETF-ProShares","BK4550":"红杉资本持仓","OEX":"标普100","DOG":"道指ETF-ProShares做空","SQQQ":"纳指三倍做空ETF","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","UPRO":"三倍做多标普500ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF","SH":"做空标普500-Proshares"},"source_url":"https://wallstreetcn.com/articles/3668238","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"2260437405","content_text":"美联储高官们最近的频频发生暗示，控制通胀仍然是美联储的首要目标，即便加息可能会将美国经济拖入衰退。市场认为，这可能是在为下周五美联储主席鲍威尔在全球央行大会上的鹰派讲话预热。下周，最令全球投资者瞩目的财经事件之一就是8月26日下周五在美国怀俄明州举办的杰克逊霍尔全球央行年会了。在这场活动中，美联储主席鲍威尔将发表讲话，讨论经济前景，其讲话内容可能预示着美国的借贷成本走向。在鲍威尔发表观点之前，其他美联储高官最近纷纷发表鹰派言论，似乎是在为鲍威尔的讲话“定调”。美联储观察人士预计，鲍威尔将发表强硬言论，因为他强化了央行抑制通胀和控制未来物价上涨预期的目标。8月19日周五，里士满联储主席巴尔金（Thomas Barkin）表示，即使通胀导致经济陷入衰退，美联储也必须继续对抗通胀。就在一天前，三位美联储高官纷纷发表鹰派言论。美联储大鹰派圣路易斯联储主席布拉德（James Bullard）表示，他倾向于美联储9月加息75个基点。布拉德说，他正在考虑在下个月的美联储议息会议上支持再次大幅加息，并补充说他还没有准备好经济已经经历了通胀飙升的最糟糕时期：我们应该继续迅速将政策利率提高到将对通胀造成重大下行压力的水平。我真的不明白为什么要将加息拖到明年。在谈到下个月的议息会议时，他说：我现在倾向于再次加息75个基点。我认为我们对经济的解读相对较好，而且我们的通胀率非常高，所以我认为继续提高政策利率并进入能够控制通胀的区间是有意义的。同一天，另一位美联储鹰派官员堪萨斯城联储主席乔治（Esther George）也表达了类似的观点。她认为，美国通胀虽然可能正在趋于缓和，但仍然偏高：美国7月CPI数据是鼓舞人心的，但现在就宣布拜登政府抗通胀取得胜利还显得操之过急。周四，向来被视作美联储鸽派官员的旧金山联储主席戴利（Mary Daly）则认为，美联储应在年底前将利率“略微”提高到3%以上，以冷却通胀：我们需要提高利率，至少达到中性水平，约为3%，但可能会进入限制性区域。戴利进一步称，具体9月加息多少，要看接下来的经济数据，50个基点或者75个基点，都可能是合适的加息幅度。尽管戴利的表态相对温和，但由于她向来相对鸽派，她所称的可能加息75个基点，依然打破了市场对美联储暂停加息或者大幅收窄加息幅度的期待。她还进一步说：我们不希望市场认为美联储的路径是驼峰形的，即今年迅速加息，明年再大举降息。市场如何反应？本周的市场，似乎已经开始对美联储的鹰派观点做出反应。本周主要美股指均累计下跌，上周涨超3%的纳指和标普分别累跌2.62%和1.21%，上周涨近3%的纳斯达克100累跌2.38%，均结束截至上周连涨四周所创的去年11月以来最长连涨周；上周涨近3%的道指累跌0.16%，在上周反弹后回落；上周涨近5%的罗素2000累跌2.94%，跌幅居首。十年期美国国债收益率本月则已经走高了40个基点。此外，美联储高官们的鹰派言论导致美元飙升，美元指数本周飙升2%，这是自2020年4月以来的最大单周涨幅。加密货币的表现似乎也受到了美联储鹰派立场的波及，周五出现暴跌。市场仍预期明年美联储将降息尽管市场相信美联储今年内将“说到做到”，贯彻鹰派立场，但市场对明年美联储降息的预期却越来越高。贝莱德投资研究所高级投资策略师Ann-Katrin Petersen认为：为了将通胀率降至2%的目标，美联储将不得不压制经济。但是，为了促进增长，美联储将在某个时候“接受与通胀共存”。 与市场目前似乎预期的情况相比，这种鸽派转向不太可能在短期内出现，但这种鸽派转向可能会在2023年到来。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"SDS":0.6,"SDOW":0.6,"MNQmain":0.6,"IVV":0.6,"QQQ":0.6,"UDOW":0.6,"UPRO":0.6,"QID":0.6,"DJX":0.6,"SQQQ":0.6,"SPY":1,"ESmain":0.6,"OEF":0.6,"DXD":0.6,"NQmain":0.6,"TQQQ":0.6,"SPXU":0.6,"QLD":0.6,".DJI":1,".IXIC":1,"DDM":0.6,"OEX":0.6,".SPX":0.6,"DOG":0.6,"PSQ":0.6,"SH":0.6,"SSO":0.6}},"isVote":1,"tweetType":1,"viewCount":797,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9076189190,"gmtCreate":1657809647610,"gmtModify":1676536065291,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9076189190","repostId":"1117227538","repostType":4,"isVote":1,"tweetType":1,"viewCount":592,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055514399,"gmtCreate":1655290909211,"gmtModify":1676535605412,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055514399","repostId":"1129671043","repostType":4,"isVote":1,"tweetType":1,"viewCount":706,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9052113055,"gmtCreate":1655136232077,"gmtModify":1676535568360,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052113055","repostId":"1139830278","repostType":4,"repost":{"id":"1139830278","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":1655129728,"share":"https://ttm.financial/m/news/1139830278?lang=en_US&edition=fundamental","pubTime":"2022-06-13 22:15","market":"us","language":"zh","title":"US anti-epidemic concept stocks fell, Novavax Pharmaceuticals fell more than 10%","url":"https://stock-news.laohu8.com/highlight/detail?id=1139830278","media":"老虎资讯综合","summary":"6月13日，美国抗疫概念股多数走低，诺瓦瓦克斯医药跌超10%，Moderna跌近7%，BioNTech SE跌超4%，辉瑞跌近3%。","content":"<p><html><head></head><body>On June 13, most U.S. anti-epidemic concept stocks fell.<a href=\"https://laohu8.com/S/NVAX\">Novavax Pharma</a>Fell more than 10%,<a href=\"https://laohu8.com/S/MRNA\">Moderna</a>Fell nearly 7%,<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>Fell more than 4%,<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>Fell nearly 3%.</p><p><img src=\"https://static.tigerbbs.com/8cc8011169f5f973e7796e674b1b9c7c\" 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>US anti-epidemic concept stocks fell, Novavax Pharmaceuticals fell more than 10%</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\">\nUS anti-epidemic concept stocks fell, Novavax Pharmaceuticals fell more than 10%\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\">2022-06-13 22:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On June 13, most U.S. anti-epidemic concept stocks fell.<a href=\"https://laohu8.com/S/NVAX\">Novavax Pharma</a>Fell more than 10%,<a href=\"https://laohu8.com/S/MRNA\">Moderna</a>Fell nearly 7%,<a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>Fell more than 4%,<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>Fell nearly 3%.</p><p><img src=\"https://static.tigerbbs.com/8cc8011169f5f973e7796e674b1b9c7c\" 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/5ce7e4c84e3c54b81fbaee9cb1c77ad9","relate_stocks":{"MRNA":"Moderna, Inc.","NVAX":"诺瓦瓦克斯医药","PFE":"辉瑞"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139830278","content_text":"6月13日，美国抗疫概念股多数走低，诺瓦瓦克斯医药跌超10%，Moderna跌近7%，BioNTech SE跌超4%，辉瑞跌近3%。","news_type":1,"symbols_score_info":{"MRNA":0.9,"PFE":0.9,"NVAX":0.9}},"isVote":1,"tweetType":1,"viewCount":760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9052119685,"gmtCreate":1655136174047,"gmtModify":1676535568352,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9052119685","repostId":"1146887080","repostType":4,"repost":{"id":"1146887080","kind":"news","pubTimestamp":1655171803,"share":"https://ttm.financial/m/news/1146887080?lang=en_US&edition=fundamental","pubTime":"2022-06-14 09:56","market":"us","language":"zh","title":"The FOMC is approaching, how is rate hike expected to perform?","url":"https://stock-news.laohu8.com/highlight/detail?id=1146887080","media":"泓观卓见","summary":"FOMC将于美东时间6月15日（周三）召开，上周起美联储进入缄默期。然而，上周超预期的通胀数据出炉后，通胀预期上升，加息预期大幅升温，市场进入紧缩交易。对于当前通胀与市场预期的解读，我们认为：供应链方","content":"<p><html><head></head><body><b>The FOMC will be held on June 15th (Wednesday), Eastern Time, and the Federal Reserve has entered a period of silence since last week. However, after last week's more-than-expected inflation data came out, inflation expectations rose, rate hike expectations heated up sharply, and the market entered tightening trade. For the interpretation of current inflation and market expectations, we believe that:</b></p><p><b>In terms of supply chain, delivery prices have dropped sharply, and the internal and external logistics pressure in the United States has eased significantly.</b>The number of ships waiting at berths and around the ports of Los Angeles and Long Beach in the United States dropped significantly from 30 last week to 19, and the waiting time for ships entering berths at ports continued its downward trend. In terms of logistics, shipping prices have declined significantly recently, and the U.S. logistics managers' index has continued to fall. Among them, the delivery price index has fallen by 8.6%, while the delivery capacity has increased significantly. The current improvement in logistics is the result of the combined action of supply and demand. Against the background of excess labor replenishment in the transportation and warehousing industry and the gradual decline in demand, the internal and external logistics situation in the United States has gradually recovered.</p><p><b>However, supply uncertainty amid the Russia-Ukraine conflict has further pushed up inflation expectations.</b>Although the supply chain data showed a significant improvement in logistics, under the influence of the unexpected inflation data on June 10, the market and residents' inflation expectations further rose. Currently, high inflation is mainly caused by supply factors. The unexpected rise in energy and food prices under the Russia-Ukraine conflict has pushed up inflation. Uncertainty about supply recovery has also caused market and residents' inflation expectations to further rise.</p><p><b>With the tightening trading under the double kill of stocks and bonds, the rate hike is expected to heat up further.</b>The market expects rate hike for the whole year of 2022 to rise from 258bp last week to 293bp-that is, on the basis of previous expectations, it is expected that there will be another meeting in addition to June and July, and rate hike will be at least 50bp; Inflation expectations have driven US Treasury yields upward rapidly. The 10-year US Treasury yields has currently exceeded 3.24%, and the 10Y-2Y yield was once upside down; The three major U.S. stock indexes all showed a downward trend, with the Nasdaq falling more than 5% that week.</p><p><b>Looking forward, the Fed is caught in the dilemma of \"inflation\" and \"stagnation\", and the market will be in a stage of continuous fluctuation.</b>In May, the inflation level hit a new high for the year, and the political focus of the White House is still on \"anti-inflation.\" Before inflation clearly eases, the Fed may still maintain a hawkish attitude beyond expectations under multiple pressures. However, the rapid tightening of the Federal Reserve has put downward pressure on the economy. The negative feedback of the stock market downturn on household consumption and the rising financing cost of enterprises have also put certain pressure on the Fed's goal of \"soft landing\". As there is not much room for the Fed's policy adjustment, the current market is still in a period of high volatility that is sensitive to the Fed's statement and inflation signals.</p><p><b>Risk warning: U.S. inflation continues to exceed expectations, and the Federal Reserve's monetary policy tightens more than expected.</b></p><p><b>'Inflation-Fed Tightens' Clue Tracking</b></p><p><img src=\"https://static.tigerbbs.com/6aff3e63e3824b2bc26117938fb09fa0\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/28fc9732996e86da944102c9cf7a3786\" tg-width=\"1080\" tg-height=\"268\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/c3e5270d56b3f873cadfd06410181b3c\" tg-width=\"1080\" tg-height=\"598\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/3351a99c1da9973de229674821271f41\" tg-width=\"1080\" tg-height=\"557\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/472d5d3761859cd07c90106e7cfc73d0\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>Market: rate hike is expected to heat up further</b></p><p><img src=\"https://static.tigerbbs.com/18a4ee59973516c806f18952515f89c8\" tg-width=\"1080\" tg-height=\"584\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/97b7f8aba71e39a4c71df266ddc88c6d\" tg-width=\"1080\" tg-height=\"588\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/d22e156c3886d8a22b3a926ba1650b19\" tg-width=\"1080\" tg-height=\"554\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/44b14104dd50de699bb1b7b65dc2beb3\" tg-width=\"1080\" tg-height=\"576\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/e962656495ec9f5f0aacd42112a7caea\" tg-width=\"1080\" tg-height=\"579\" referrerpolicy=\"no-referrer\"/></p><p><b>Inflation: Residents' inflation expectations rise, port and logistics pressure continues to ease</b></p><p><img src=\"https://static.tigerbbs.com/df8d97196eb49598c49e2d66d37cc69e\" tg-width=\"1080\" tg-height=\"588\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/14093036dfc5b3ae54e7ec359ff6ba92\" tg-width=\"1080\" tg-height=\"578\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/1751b178d4b40f9f53651223ebc8f85f\" tg-width=\"1080\" tg-height=\"605\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/5d0d40ea5a09a8f992e3e91d21878164\" tg-width=\"1080\" tg-height=\"555\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/61e87601f799546f86e3a8acda46b8a2\" tg-width=\"1080\" tg-height=\"553\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/de8085c6477627e4ac7ec51d1e036585\" tg-width=\"1080\" tg-height=\"561\" referrerpolicy=\"no-referrer\"/></p><p><b>Risk warning: U.S. inflation continues to exceed expectations, and the Federal Reserve's monetary policy tightens more than expected.</b></p><p></body></html></p>","source":"lsy1642125700961","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 FOMC is approaching, how is rate hike expected to perform?</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 FOMC is approaching, how is rate hike expected to perform?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">泓观卓见</strong><span class=\"h-time small\">2022-06-14 09:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>The FOMC will be held on June 15th (Wednesday), Eastern Time, and the Federal Reserve has entered a period of silence since last week. However, after last week's more-than-expected inflation data came out, inflation expectations rose, rate hike expectations heated up sharply, and the market entered tightening trade. For the interpretation of current inflation and market expectations, we believe that:</b></p><p><b>In terms of supply chain, delivery prices have dropped sharply, and the internal and external logistics pressure in the United States has eased significantly.</b>The number of ships waiting at berths and around the ports of Los Angeles and Long Beach in the United States dropped significantly from 30 last week to 19, and the waiting time for ships entering berths at ports continued its downward trend. In terms of logistics, shipping prices have declined significantly recently, and the U.S. logistics managers' index has continued to fall. Among them, the delivery price index has fallen by 8.6%, while the delivery capacity has increased significantly. The current improvement in logistics is the result of the combined action of supply and demand. Against the background of excess labor replenishment in the transportation and warehousing industry and the gradual decline in demand, the internal and external logistics situation in the United States has gradually recovered.</p><p><b>However, supply uncertainty amid the Russia-Ukraine conflict has further pushed up inflation expectations.</b>Although the supply chain data showed a significant improvement in logistics, under the influence of the unexpected inflation data on June 10, the market and residents' inflation expectations further rose. Currently, high inflation is mainly caused by supply factors. The unexpected rise in energy and food prices under the Russia-Ukraine conflict has pushed up inflation. Uncertainty about supply recovery has also caused market and residents' inflation expectations to further rise.</p><p><b>With the tightening trading under the double kill of stocks and bonds, the rate hike is expected to heat up further.</b>The market expects rate hike for the whole year of 2022 to rise from 258bp last week to 293bp-that is, on the basis of previous expectations, it is expected that there will be another meeting in addition to June and July, and rate hike will be at least 50bp; Inflation expectations have driven US Treasury yields upward rapidly. The 10-year US Treasury yields has currently exceeded 3.24%, and the 10Y-2Y yield was once upside down; The three major U.S. stock indexes all showed a downward trend, with the Nasdaq falling more than 5% that week.</p><p><b>Looking forward, the Fed is caught in the dilemma of \"inflation\" and \"stagnation\", and the market will be in a stage of continuous fluctuation.</b>In May, the inflation level hit a new high for the year, and the political focus of the White House is still on \"anti-inflation.\" Before inflation clearly eases, the Fed may still maintain a hawkish attitude beyond expectations under multiple pressures. However, the rapid tightening of the Federal Reserve has put downward pressure on the economy. The negative feedback of the stock market downturn on household consumption and the rising financing cost of enterprises have also put certain pressure on the Fed's goal of \"soft landing\". As there is not much room for the Fed's policy adjustment, the current market is still in a period of high volatility that is sensitive to the Fed's statement and inflation signals.</p><p><b>Risk warning: U.S. inflation continues to exceed expectations, and the Federal Reserve's monetary policy tightens more than expected.</b></p><p><b>'Inflation-Fed Tightens' Clue Tracking</b></p><p><img src=\"https://static.tigerbbs.com/6aff3e63e3824b2bc26117938fb09fa0\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/28fc9732996e86da944102c9cf7a3786\" tg-width=\"1080\" tg-height=\"268\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/c3e5270d56b3f873cadfd06410181b3c\" tg-width=\"1080\" tg-height=\"598\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/3351a99c1da9973de229674821271f41\" tg-width=\"1080\" tg-height=\"557\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/472d5d3761859cd07c90106e7cfc73d0\" tg-width=\"1080\" tg-height=\"570\" referrerpolicy=\"no-referrer\"/></p><p><b>Market: rate hike is expected to heat up further</b></p><p><img src=\"https://static.tigerbbs.com/18a4ee59973516c806f18952515f89c8\" tg-width=\"1080\" tg-height=\"584\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/97b7f8aba71e39a4c71df266ddc88c6d\" tg-width=\"1080\" tg-height=\"588\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/d22e156c3886d8a22b3a926ba1650b19\" tg-width=\"1080\" tg-height=\"554\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/44b14104dd50de699bb1b7b65dc2beb3\" tg-width=\"1080\" tg-height=\"576\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/e962656495ec9f5f0aacd42112a7caea\" tg-width=\"1080\" tg-height=\"579\" referrerpolicy=\"no-referrer\"/></p><p><b>Inflation: Residents' inflation expectations rise, port and logistics pressure continues to ease</b></p><p><img src=\"https://static.tigerbbs.com/df8d97196eb49598c49e2d66d37cc69e\" tg-width=\"1080\" tg-height=\"588\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/14093036dfc5b3ae54e7ec359ff6ba92\" tg-width=\"1080\" tg-height=\"578\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/1751b178d4b40f9f53651223ebc8f85f\" tg-width=\"1080\" tg-height=\"605\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/5d0d40ea5a09a8f992e3e91d21878164\" tg-width=\"1080\" tg-height=\"555\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/61e87601f799546f86e3a8acda46b8a2\" tg-width=\"1080\" tg-height=\"553\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/de8085c6477627e4ac7ec51d1e036585\" tg-width=\"1080\" tg-height=\"561\" referrerpolicy=\"no-referrer\"/></p><p><b>Risk warning: U.S. inflation continues to exceed expectations, and the Federal Reserve's monetary policy tightens more than expected.</b></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/dDIXhHtBrLKd9lfcunvTDQ\">泓观卓见</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":{"BK4077":"互动媒体与服务","FOMC":"FOMO CORP."},"source_url":"https://mp.weixin.qq.com/s/dDIXhHtBrLKd9lfcunvTDQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146887080","content_text":"FOMC将于美东时间6月15日（周三）召开，上周起美联储进入缄默期。然而，上周超预期的通胀数据出炉后，通胀预期上升，加息预期大幅升温，市场进入紧缩交易。对于当前通胀与市场预期的解读，我们认为：供应链方面，交运价格大幅回落，美国内外部物流压力明显缓和。美国洛杉矶和长滩港在泊位及其外围等待的船只数量从上周的30只明显回落至19只，港口进入泊位船舶等待时间延续下降趋势。物流方面，近期海运价格明显下滑，美国物流经理人指数持续回落，其中交运价格指数回落8.6%，而交运能力大幅上升。当前物流的好转是由供给和需求共同作用的结果，在交运仓储行业劳动力的超额回补以及需求逐渐回落的背景下，美国内外部物流情况逐渐恢复。然而，俄乌冲突下的供给不确定性进一步推升通胀预期。尽管供应链数据呈现物流的明显好转，但6月10日超预期的通胀数据影响下，市场及居民通胀预期进一步上行。当前来看，高企的通胀主要是由于供给因素导致的，俄乌冲突下的能源和食品价格超预期上涨推升了通胀。对于供给恢复的不确定性也使得市场和居民通胀预期进一步上行。股债双杀下的紧缩交易，加息预期进一步升温。市场对2022年全年加息预期从上周258bp上行至293bp——即在此前预期的基础上预期除6、7月外还将有一次会议加息至少50bp；通胀预期驱动美债利率快速上行，10年期美债利率当前已突破3.24%，且10Y-2Y收益率一度倒挂；美国三大股指均呈现下行趋势，纳斯达克当周跌幅超5%往后看，联储陷入“胀”与“滞”的两难，市场将处于持续波动的阶段。5月通胀水平再创年内新高，白宫的政治重心仍然在“抗通胀”，在通胀明确缓解之前，多重压力下联储或仍将保持超预期的鹰派态度。然而，联储的快速收紧已经给经济造成了下行压力，股市下行对居民消费的负反馈以及企业融资成本的上升，也为联储“软着陆”的目标造成了一定的压力。由于联储政策调整的空间已经不大，当前市场仍处于对于联储表态和通胀信号较为敏感的高波动期。风险提示：美国通胀持续性超预期，联储货币政策收紧超预期。“通胀-联储收紧”线索追踪市场：加息预期进一步升温通胀：居民通胀预期攀升，港口和物流压力持续缓解风险提示：美国通胀持续性超预期，联储货币政策收紧超预期。","news_type":1,"symbols_score_info":{"FOMC":0.9}},"isVote":1,"tweetType":1,"viewCount":591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9938108131,"gmtCreate":1662569277423,"gmtModify":1676537090340,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938108131","repostId":"1155178178","repostType":4,"isVote":1,"tweetType":1,"viewCount":2549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9931988438,"gmtCreate":1662383039424,"gmtModify":1676537049135,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9931988438","repostId":"1188730327","repostType":4,"repost":{"id":"1188730327","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":1662370238,"share":"https://ttm.financial/m/news/1188730327?lang=en_US&edition=fundamental","pubTime":"2022-09-05 17:30","market":"hk","language":"zh","title":"Tencent Holdings repurchased 1.1 million shares today at a total cost of approximately HK $351 million","url":"https://stock-news.laohu8.com/highlight/detail?id=1188730327","media":"老虎资讯综合","summary":"腾讯控股：于9月5日回购110万股，回购价格为316.6-324港元，共耗资约3.51亿港元。","content":"<p><html><head></head><body><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>: On September 5, 1.1 million shares were repurchased at a repurchase price of HK $316.6-324, with a total cost of approximately HK $351 million.</p><p><img src=\"https://static.tigerbbs.com/a1ee177bdf306f991afb7d40f950e889\" tg-width=\"1576\" tg-height=\"484\" width=\"100%\" height=\"auto\"/></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>Tencent Holdings repurchased 1.1 million shares today at a total cost of approximately HK $351 million</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\">\nTencent Holdings repurchased 1.1 million shares today at a total cost of approximately HK $351 million\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\">2022-09-05 17:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><a href=\"https://laohu8.com/S/00700\">Tencent Holdings</a>: On September 5, 1.1 million shares were repurchased at a repurchase price of HK $316.6-324, with a total cost of approximately HK $351 million.</p><p><img src=\"https://static.tigerbbs.com/a1ee177bdf306f991afb7d40f950e889\" tg-width=\"1576\" tg-height=\"484\" width=\"100%\" height=\"auto\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"BK1531":"手游股","BK1516":"腾讯概念","00700":"腾讯控股","BK1095":"互动媒体与服务","BK1608":"元宇宙概念","BK1502":"双十一","TCEHY":"腾讯控股ADR","BK1589":"北水核心资产","BK1517":"云办公","BK1521":"挪威政府全球养老基金持仓","BK1526":"科网股","BK1591":"就地过年概念","BK1586":"云计算"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188730327","content_text":"腾讯控股：于9月5日回购110万股，回购价格为316.6-324港元，共耗资约3.51亿港元。","news_type":1,"symbols_score_info":{"TCEHY":0.9,"00700":0.9}},"isVote":1,"tweetType":1,"viewCount":2569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9933837468,"gmtCreate":1662258404955,"gmtModify":1676537026007,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9933837468","repostId":"1183237993","repostType":4,"isVote":1,"tweetType":1,"viewCount":2346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9933922402,"gmtCreate":1662205594406,"gmtModify":1676537018091,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9933922402","repostId":"1101174405","repostType":4,"repost":{"id":"1101174405","kind":"news","pubTimestamp":1662163894,"share":"https://ttm.financial/m/news/1101174405?lang=en_US&edition=fundamental","pubTime":"2022-09-03 08:11","market":"us","language":"zh","title":"A grain of ash on Nvidia's head","url":"https://stock-news.laohu8.com/highlight/detail?id=1101174405","media":"远川研究所","summary":"刚刚开幕的世界人工智能大会上，已经没有人关心今年到底马斯克会语出惊人，还是会BAT三巨头重聚斗法，所有交头接耳的观众就关心一件事——英伟达的A100、H100显卡，真的要断供了吗？一旦英伟达和AMD的","content":"<p><html><head></head><body>At the just-opened World Artificial Intelligence Conference, no one cared whether Musk would speak amazingly this year, or whether the BAT Big Three would reunite to fight. All the whispering audiences cared about one thing-<b>Are Nvidia's A100 and H100 graphics cards really going to be cut off?</b>？</p><p><b>Once the supply of GPUs from Nvidia and AMD is cut off, it is tantamount to dragging the bottom of the pot for the development of the artificial intelligence industry</b>--Any real AI research institution has A100 and H100.</p><p><b>Nvidia has not had an easy time in the past year</b>, in the second quarter of 2022, Nvidia handed over a shocking financial report, and its revenue fell by 19% month-on-month. The game business, which supports the main revenue, fell by 44% month-on-month and 33% year-on-year.</p><p>The game of the largest business suffered a thunderstorm, the data center of the second largest business suffered a drain from the bottom of the United States, and Nvidia's stock price also continued to bottom out. Compared with the high point at the end of last year, Nvidia's stock price has now been cut by nearly half, with a market value of only US $377.4 billion.</p><p>Looking back a year ago, the story about Nvidia is still another set of narratives:</p><p>In April 2021, Nvidia held a \"metaverse Conference\". In the middle of the speech, CEO Huang Renxun was secretly replaced with a digital person, and almost no one noticed it. Three months later, 14 seconds of \"stealing the sky and changing the day\" was made public, and Nvidia successfully sealed the \"metaverse Giant\".</p><p>There is no doubt that in the technology industry, \"metaverse\" is the three most discussed words this year. Taking advantage of the trend, Nvidia's stock price has been booming all the way. In November, Nvidia's market value exceeded US $800 billion, making it the world's most valuable semiconductor company.</p><p>As metaverse's infrastructure, the computing power support of AI outlets, and the core productivity of virtual currency miners, Nvidia's performance this year was equally impressive: total revenue was US $26.914 billion, a year-on-year increase of 61%.</p><p><img src=\"https://static.tigerbbs.com/04aac5b05b0637eff403d850e750a843\" tg-width=\"540\" tg-height=\"311\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>14 seconds that are difficult to distinguish between true and false</p><p><b>In less than a year, what happened to Nvidia?</b></p><p><b>01. Rise: Computing power reverses life and death</b></p><p>To understand Nvidia's current situation, we must start with the relationship between Nvidia and computing power.</p><p>In Silicon Valley, few entrepreneurs can be as stubborn as Nvidia founder Huang Renxun, and his belief is simple:<b>Computing power is power</b>。</p><p>Under this belief, in 2010, Nvidia released a new generation graphics card-GTX480 with explosive performance and explosive heat. Someone has done a test. The working temperature of the GTX480 with full horsepower often soars to sixty or seventy degrees. If you are not careful, you will go to Yellow Springs with other components.</p><p>So what about that? Huang Renxun \"I want me to feel\", the greater the computing power, the better.</p><p>A year later, Nvidia released its latest graphics card, the GTX590. Soon after a foreign media ran the GTX590 at its maximum power, a blue smoke curled up from the circuit board, and the title of \"nuclear bomb\" of Nvidia graphics card has spread like wildfire since then.</p><p>These are just appetizers. When Nvidia introduced its successor GTX690, angry netizens directly added it to the encyclopedia entry of \"Aircraft Carrier Killer\". After watching it, the host of Gansu Satellite TV believed it and wrote it into the oral broadcast draft of the military program:</p><p>“<b>Especially the improved model equipped with GTX690 core graphics card, which can destroy an aircraft carrier battle group with one shot!</b>”</p><p>After the program was broadcast, Huang Renxun, a Silicon Valley madman, was once again crowned the \"Father of Two Bombs\" title.</p><p><img src=\"https://static.tigerbbs.com/ac73479b1566947e38e4854795412516\" tg-width=\"580\" tg-height=\"1085\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It is false to blow up the aircraft carrier cluster with super computing power, but the dream of blowing up Nvidia's mobile terminal is real:</p><p>In 2011, with the decline of traditional PCs and the rise of smart phones, the trend of becoming a new generation of super terminals has gradually become clear: Nvidia, which is eager to show its talents in the field of smart phones, launched the world's first quad-core processor Tegra 3, which improved its performance by 3 times compared with the previous generation.</p><p>Propaganda is beautiful, isn't it? HTC, eager to reverse the decline of its smartphone business, believed it and chose to suffocate Nvidia's dream: in the latest flagship phone, it radically used Tegra 3.</p><p>As a result, the skinny camel turned into a feverish camel. The serious fever problem caused by Tegra 3's violent accumulation of computing power has become the last straw that crushed the recovery of HTC smartphones. Nvidia's journey to pursue the dream of mobile terminal has also come to an end for the time being.</p><p>Huang Renxun's paranoia about computing power brought Nvidia into a dead end at that time: the spontaneous combustion of graphics cards and the losing wave of smartphones once caused Nvidia's stock price to fall by nearly half.</p><p><b>02. Reversal: When computing power truly becomes power</b></p><p>But failure is also calculating power, and success is also calculating power. At a desperate juncture, Huang Renxun's belief that \"computing power changes the world\" was unexpectedly proved in the field of AI.</p><p>Before 2012, AI had experienced two waves, both of which were unsustainable due to objective conditions. Simply put, the limitation of the first time is insufficient computing power, and the second time is too high cost.</p><p>Because before, AI recognition mostly relied on CPU.</p><p>CPU is suitable for complex general serial tasks, with up to 16 built-in powerful ALUs (arithmetic logic units). Translate it, this is equivalent to a college student who can do calculus, with a good brain but low efficiency. In 2010, AI pioneer Andrew Ng had to spend 16,000 CPU processors in order to make AI programs identify a cat, which is equivalent to 40 or 50 Internet cafes to fully operate at the same time, costing about 1 million dollars.</p><p>The GPU is suitable for simple and specific parallel tasks. It has thousands of simple ALUs built in, which is approximately equal to hundreds of primary school students who can only do addition, subtraction, multiplication and division. The brain is a bit poor, but it wins because of its high efficiency.</p><p>So to sum up, handling complex logical tasks and serving as the commander's work is exclusive to the CPU; But GPU is most suitable for simple and repetitive things that accumulate computing power violently.</p><p>Where do you need to build up computing power violently? In the past, the only recognized application scenarios for GPUs were games. But Huang Renxun's belief is that computing power can change the world: in order to better utilize GPU computing power, Nvidia also launched a tool software called CUDA to lower the threshold of GPU programming, and invested 6 years regardless of cost.</p><p>This made AI scholars finally realize the power of GPU computing power.</p><p>For scenarios such as AI deep learning, \"100 primary school students' brains\" are enough-this means that GPUs with high computing power are obviously more suitable. After Andrew Ng replaced the AI program of that year with GPU, he was surprised to find that only 12 were needed.</p><p>This major discovery, combined with software breakthroughs, detonated the third wave of AI development in the world, and also pushed Nvidia, which has both an AI software and hardware ecosystem, to the top of the mountain: Today, the world's largest Amazon public cloud and BAT's AI research, the bottom layer It is inseparable from the technical support of Nvidia GPU.</p><p><b>Wherever there is AI, everyone mentions Nvidia</b>。 As Huang Renxun firmly believes, computing power has really changed the world this time.</p><p>Coincidentally, cryptocurrencies that emerged at the same time were also highly dependent on GPU computing power. With the blessing of many outlets, graphics cards are \"hard to find\" all the year round, and Huang Renxun, the \"boss\", has become a veritable \"godfather of graphics cards\". The \"believers\" of the graphics card once recorded these glorious deeds in the form of Historical Records, and finally commented:</p><p>\"There is Renxun first and then there is Heaven, and the graphics card is abusing the gods.\"</p><p><b>03. Coronation: GPU devour everything</b></p><p>At the GTC conference in 2019, Huang Renxun once again publicly mentioned his belief in computing power: \"Even if Moore's Law comes to an end, GPUs will be omnipotent.\" Finally, in 2021, his belief has been generally recognized by the secondary market. Sister Wood and other investment giants have increased their investment successively, and the secondary market has been triumphing all the way, and the market value has tripled in a year.</p><p>This mainly comes from two increases and two new narratives.</p><p>The growth comes from two main businesses, namely games and data centers.</p><p>Demand for gaming increased due to extended stay-at-home hours caused by the pandemic. According to Newzoo's statistics, the global gaming market grew by 1.4% in 2021. If you need to run 3A-level games on the PC side, a discrete graphics card is an essential tool. At present, there are almost only two choices, Nvidia and AMD. Among them, Nvidia has an absolute advantage in market share-in the third quarter of the same year, Nvidia took 83% of the market.</p><p>However, in addition to the game house, there is a larger group snapping up game graphics cards.</p><p>In 2021, the cryptocurrency market will usher in a new round of bull market: Bitcoin has more than 2 times, Ethereum has 4 times, and LUNA, which later triggered an earthquake in the currency circle, has risen more than 80 times. The market boom has spawned a large number of \"crypto miners\". Mining is a means of producing cryptocurrency, which relies on powerful GPU computing power. The mining machine made of top-of-the-line game graphics card has become a veritable \"gold shovel\", and computing power has also become synonymous with \"wealth\".</p><p><img src=\"https://static.tigerbbs.com/5532287cd6f926f8872e91441dd9483a\" tg-width=\"843\" tg-height=\"431\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Bitcoin soars</p><p>The resulting surge in demand has led to an increase in the volume and price of Nvidia's graphics cards, and the game business has also taken off, creating revenue of US $3.2 billion in the third quarter of 2021, and a year-on-year growth of 42%.</p><p>At the same time, the global data center industry also ushered in spring: the scale reached US $76.56 billion, a year-on-year increase of 13.5%, and the growth rate will remain above 10% in the next few years. [5] Data centers are the product of the wave of AI development, which means that Nvidia, which owns both CUDA and GPU, has won again. Among the world's top 500 supercomputers, 342 are served by Nvidia.</p><p>This trend was also quickly reflected in Nvidia's financial report: In 2021, data center revenue increased by 124% year-on-year, and surpassed games in the first quarter of the following year to become a new revenue pillar.</p><p>While the financial report performance is rising gratifying, the two new narratives brought by Nvidia have also whetted the appetite of the secondary market.</p><p>The first to bear the brunt was one of the biggest outlets of the year-metaverse.</p><p>At the end of 2021, Huang Renxun demonstrated a new generation of tooling software Omniverse, calling it \"metaverse for engineers.\" In the future envisioned by Nvidia, everything in the real universe can be installed into the virtual world with the help of Omniverse and GPU computing power, providing people with a key to metaverse. On the day of the release, Nvidia's stock price reached a record high.</p><p><img src=\"https://static.tigerbbs.com/3b14b53638f1068c41b8107020948235\" tg-width=\"600\" tg-height=\"341\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Another new narrative comes from ARM: In 2021, Nvidia is steadily advancing matters related to the acquisition of ARM from Japan's SoftBank.</p><p>ARM is a technology patent provider in the field of mobile chips. More than 90% of smartphones use ARM architecture. Once the acquisition is completed, Huang Renxun has the opportunity to unify the PC and mobile markets, and the only legend of Nvidia will be left in the world.</p><p>Everything seems to be moving towards<b>Old immortal computing power, boundless magic power</b>The direction of.</p><p><b>04. Shui Inverse: Has the super power of computing power disappeared?</b></p><p>Computing power is power, and computing power determines the ability of AI. After more than ten years, not only Nvidia's believers understand, but also the U.S. government understands:</p><p>In this quarter alone, Nvidia's sales of these two chips exported to China have reached US $400 million. You know, in the latest fiscal quarter, Nvidia's total revenue was only US $6.7 billion, and he must not want to lose the Chinese market.</p><p><b>But Nvidia's water reversal is more than just that.</b></p><p>At the beginning of this year, before the dream of unifying the rivers and lakes had begun, Nvidia's ARM acquisition road suffered joint attacks from governments and global technology giants:</p><p>First, in 2021, the four technology giants Qualcomm, Microsoft, Intel, and Amazon formed an \"anti-Nvidia alliance\" to jointly provide monopoly evidence to regulatory agencies in various countries in an attempt to stop the acquisition.</p><p>Later, when Huang Renxun submitted acquisition applications to various countries, the global regulatory agencies responded exactly the same-delay. Among them, the reason given by the European Union is the most wonderful: because there is a summer vacation.</p><p>On February 8, 2022, Nvidia finally received a reply from the regulatory agencies of the United States, the United Kingdom and the European Union. Unfortunately, the answer was no. The reason was that it was worried about the possible serious monopoly in the global semiconductor industry. By then, the neutrality of ARM will disappear.</p><p>For Huang Renxun<b>, the failure of ARM acquisition was just the beginning, and soon after, the graphics card speculation market also collapsed</b>。</p><p>In March 2021, CCTV sent reporters to \"undercover\" the digital market, exposing the path of graphics card profiteers to get rich. But a year later, when I revisited my old place, there was a completely opposite scene in front of me. Seeing the reporter who made an unannounced visit, the merchants in Huaqiangbei, Shenzhen, couldn't hide their grief, bluntly saying that they took the order at a high price, and now they will lose three or four thousand yuan for every video card they sell. At the most extreme moment, the graphics card dropped by 1,000 yuan a month.</p><p><img src=\"https://static.tigerbbs.com/302a2d8cf0eeb0cd244cef3ed5f58083\" tg-width=\"533\" tg-height=\"300\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In August this year, the RTX30 series graphics cards, which used to be \"hard to find a card\", have successfully broken, and the price of second-hand graphics cards on eBay has generally been halved.</p><p>Even so, there are still many voices calling for \"don't take over\"-there is still room for further bottoming out in prices. Wait for the party to shout the slogan \"If you don't buy it, I won't buy it, the graphics card will drop by 200 tomorrow\", while figuring out when the profiteers who hoarded goods at high prices last year will go to the rooftop to perform \"trapeze\".</p><p><img src=\"https://static.tigerbbs.com/42454d54a829cc393282f8a8629a717a\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In just one year, the demand for graphics cards has shrunk sharply. In the past, graphics cards with both volume and price rising suddenly became unsalable, which became the chief culprit of Nvidia's performance thunderstorm. In the second quarter, the revenue of the game business (graphics card) was only about US $6.7 billion, a year-on-year and quarter-on-quarter decrease of more than 30%. Affected by inventory problems, Nvidia's gross profit margin also fell to 43.7%, far lower than the previous forecast of 65.1%.</p><p>In just one year, the myth of GPU computing power suddenly lost its magic?</p><p><b>05. A grain of ash of the times falls on Nvidia's head</b></p><p>But unlike Nvidia's failures in the past, Huang Renxun didn't do anything wrong this time, but times have changed.</p><p>IC Insights, a market research company, has compiled a statistics: Since the 1990s, the rise and fall of the semiconductor industry has been almost highly bound to the trend of global GDP.</p><p>The logic behind it is not difficult to understand,<b>Only when people's pockets get bigger and bigger day by day will they care which one is faster, Nvidia 3090TI or AMD 6950XT</b>, game houses will switch to new computers for a better experience, crypto miners firmly believe that \"computing power is wealth\" are frantically hoarding graphics cards, even scholars have sufficient budgets to build data centers for research, multiple waves alternate, everyone Together, they pushed computing power to the altar.</p><p>But when the epidemic came along with inflation and rate hike, what we saw was that at the performance briefing in the second quarter, Nvidia Chief Financial Officer Kress blamed the thunderstorm on Azhai-the demand for game products suddenly slowed down. But the other half of what he didn't say explicitly was the world that he couldn't go back to:</p><p>Regarding the rights brought by computing power. The crash of cryptocurrency caused a large number of miners to announce \"surrender\" and suspend mining starting from June 7 because of the plummeting income. In 2022, at most, even Bitcoin will fall by two-thirds in half a year, and the computing power expenditure of miners can no longer cover the income of currency prices.</p><p>As for the beautiful imagination of computing power, although in the long run, the expansion of computing power will never end; However, in the short term, Nvidia will face Internet giants whose growth is slowing down around the world, as well as PC shipments that have been shrinking for many years. The sudden ban on U.S. data center exports has made Nvidia unspeakable.</p><p>What is left to Nvidia is a world that suspends growth and a world that begins to counter globalization.</p><p></body></html></p>","source":"lsy1585097861883","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>A grain of ash on Nvidia's head</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\">\nA grain of ash on Nvidia's head\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">远川研究所</strong><span class=\"h-time small\">2022-09-03 08:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>At the just-opened World Artificial Intelligence Conference, no one cared whether Musk would speak amazingly this year, or whether the BAT Big Three would reunite to fight. All the whispering audiences cared about one thing-<b>Are Nvidia's A100 and H100 graphics cards really going to be cut off?</b>？</p><p><b>Once the supply of GPUs from Nvidia and AMD is cut off, it is tantamount to dragging the bottom of the pot for the development of the artificial intelligence industry</b>--Any real AI research institution has A100 and H100.</p><p><b>Nvidia has not had an easy time in the past year</b>, in the second quarter of 2022, Nvidia handed over a shocking financial report, and its revenue fell by 19% month-on-month. The game business, which supports the main revenue, fell by 44% month-on-month and 33% year-on-year.</p><p>The game of the largest business suffered a thunderstorm, the data center of the second largest business suffered a drain from the bottom of the United States, and Nvidia's stock price also continued to bottom out. Compared with the high point at the end of last year, Nvidia's stock price has now been cut by nearly half, with a market value of only US $377.4 billion.</p><p>Looking back a year ago, the story about Nvidia is still another set of narratives:</p><p>In April 2021, Nvidia held a \"metaverse Conference\". In the middle of the speech, CEO Huang Renxun was secretly replaced with a digital person, and almost no one noticed it. Three months later, 14 seconds of \"stealing the sky and changing the day\" was made public, and Nvidia successfully sealed the \"metaverse Giant\".</p><p>There is no doubt that in the technology industry, \"metaverse\" is the three most discussed words this year. Taking advantage of the trend, Nvidia's stock price has been booming all the way. In November, Nvidia's market value exceeded US $800 billion, making it the world's most valuable semiconductor company.</p><p>As metaverse's infrastructure, the computing power support of AI outlets, and the core productivity of virtual currency miners, Nvidia's performance this year was equally impressive: total revenue was US $26.914 billion, a year-on-year increase of 61%.</p><p><img src=\"https://static.tigerbbs.com/04aac5b05b0637eff403d850e750a843\" tg-width=\"540\" tg-height=\"311\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>14 seconds that are difficult to distinguish between true and false</p><p><b>In less than a year, what happened to Nvidia?</b></p><p><b>01. Rise: Computing power reverses life and death</b></p><p>To understand Nvidia's current situation, we must start with the relationship between Nvidia and computing power.</p><p>In Silicon Valley, few entrepreneurs can be as stubborn as Nvidia founder Huang Renxun, and his belief is simple:<b>Computing power is power</b>。</p><p>Under this belief, in 2010, Nvidia released a new generation graphics card-GTX480 with explosive performance and explosive heat. Someone has done a test. The working temperature of the GTX480 with full horsepower often soars to sixty or seventy degrees. If you are not careful, you will go to Yellow Springs with other components.</p><p>So what about that? Huang Renxun \"I want me to feel\", the greater the computing power, the better.</p><p>A year later, Nvidia released its latest graphics card, the GTX590. Soon after a foreign media ran the GTX590 at its maximum power, a blue smoke curled up from the circuit board, and the title of \"nuclear bomb\" of Nvidia graphics card has spread like wildfire since then.</p><p>These are just appetizers. When Nvidia introduced its successor GTX690, angry netizens directly added it to the encyclopedia entry of \"Aircraft Carrier Killer\". After watching it, the host of Gansu Satellite TV believed it and wrote it into the oral broadcast draft of the military program:</p><p>“<b>Especially the improved model equipped with GTX690 core graphics card, which can destroy an aircraft carrier battle group with one shot!</b>”</p><p>After the program was broadcast, Huang Renxun, a Silicon Valley madman, was once again crowned the \"Father of Two Bombs\" title.</p><p><img src=\"https://static.tigerbbs.com/ac73479b1566947e38e4854795412516\" tg-width=\"580\" tg-height=\"1085\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>It is false to blow up the aircraft carrier cluster with super computing power, but the dream of blowing up Nvidia's mobile terminal is real:</p><p>In 2011, with the decline of traditional PCs and the rise of smart phones, the trend of becoming a new generation of super terminals has gradually become clear: Nvidia, which is eager to show its talents in the field of smart phones, launched the world's first quad-core processor Tegra 3, which improved its performance by 3 times compared with the previous generation.</p><p>Propaganda is beautiful, isn't it? HTC, eager to reverse the decline of its smartphone business, believed it and chose to suffocate Nvidia's dream: in the latest flagship phone, it radically used Tegra 3.</p><p>As a result, the skinny camel turned into a feverish camel. The serious fever problem caused by Tegra 3's violent accumulation of computing power has become the last straw that crushed the recovery of HTC smartphones. Nvidia's journey to pursue the dream of mobile terminal has also come to an end for the time being.</p><p>Huang Renxun's paranoia about computing power brought Nvidia into a dead end at that time: the spontaneous combustion of graphics cards and the losing wave of smartphones once caused Nvidia's stock price to fall by nearly half.</p><p><b>02. Reversal: When computing power truly becomes power</b></p><p>But failure is also calculating power, and success is also calculating power. At a desperate juncture, Huang Renxun's belief that \"computing power changes the world\" was unexpectedly proved in the field of AI.</p><p>Before 2012, AI had experienced two waves, both of which were unsustainable due to objective conditions. Simply put, the limitation of the first time is insufficient computing power, and the second time is too high cost.</p><p>Because before, AI recognition mostly relied on CPU.</p><p>CPU is suitable for complex general serial tasks, with up to 16 built-in powerful ALUs (arithmetic logic units). Translate it, this is equivalent to a college student who can do calculus, with a good brain but low efficiency. In 2010, AI pioneer Andrew Ng had to spend 16,000 CPU processors in order to make AI programs identify a cat, which is equivalent to 40 or 50 Internet cafes to fully operate at the same time, costing about 1 million dollars.</p><p>The GPU is suitable for simple and specific parallel tasks. It has thousands of simple ALUs built in, which is approximately equal to hundreds of primary school students who can only do addition, subtraction, multiplication and division. The brain is a bit poor, but it wins because of its high efficiency.</p><p>So to sum up, handling complex logical tasks and serving as the commander's work is exclusive to the CPU; But GPU is most suitable for simple and repetitive things that accumulate computing power violently.</p><p>Where do you need to build up computing power violently? In the past, the only recognized application scenarios for GPUs were games. But Huang Renxun's belief is that computing power can change the world: in order to better utilize GPU computing power, Nvidia also launched a tool software called CUDA to lower the threshold of GPU programming, and invested 6 years regardless of cost.</p><p>This made AI scholars finally realize the power of GPU computing power.</p><p>For scenarios such as AI deep learning, \"100 primary school students' brains\" are enough-this means that GPUs with high computing power are obviously more suitable. After Andrew Ng replaced the AI program of that year with GPU, he was surprised to find that only 12 were needed.</p><p>This major discovery, combined with software breakthroughs, detonated the third wave of AI development in the world, and also pushed Nvidia, which has both an AI software and hardware ecosystem, to the top of the mountain: Today, the world's largest Amazon public cloud and BAT's AI research, the bottom layer It is inseparable from the technical support of Nvidia GPU.</p><p><b>Wherever there is AI, everyone mentions Nvidia</b>。 As Huang Renxun firmly believes, computing power has really changed the world this time.</p><p>Coincidentally, cryptocurrencies that emerged at the same time were also highly dependent on GPU computing power. With the blessing of many outlets, graphics cards are \"hard to find\" all the year round, and Huang Renxun, the \"boss\", has become a veritable \"godfather of graphics cards\". The \"believers\" of the graphics card once recorded these glorious deeds in the form of Historical Records, and finally commented:</p><p>\"There is Renxun first and then there is Heaven, and the graphics card is abusing the gods.\"</p><p><b>03. Coronation: GPU devour everything</b></p><p>At the GTC conference in 2019, Huang Renxun once again publicly mentioned his belief in computing power: \"Even if Moore's Law comes to an end, GPUs will be omnipotent.\" Finally, in 2021, his belief has been generally recognized by the secondary market. Sister Wood and other investment giants have increased their investment successively, and the secondary market has been triumphing all the way, and the market value has tripled in a year.</p><p>This mainly comes from two increases and two new narratives.</p><p>The growth comes from two main businesses, namely games and data centers.</p><p>Demand for gaming increased due to extended stay-at-home hours caused by the pandemic. According to Newzoo's statistics, the global gaming market grew by 1.4% in 2021. If you need to run 3A-level games on the PC side, a discrete graphics card is an essential tool. At present, there are almost only two choices, Nvidia and AMD. Among them, Nvidia has an absolute advantage in market share-in the third quarter of the same year, Nvidia took 83% of the market.</p><p>However, in addition to the game house, there is a larger group snapping up game graphics cards.</p><p>In 2021, the cryptocurrency market will usher in a new round of bull market: Bitcoin has more than 2 times, Ethereum has 4 times, and LUNA, which later triggered an earthquake in the currency circle, has risen more than 80 times. The market boom has spawned a large number of \"crypto miners\". Mining is a means of producing cryptocurrency, which relies on powerful GPU computing power. The mining machine made of top-of-the-line game graphics card has become a veritable \"gold shovel\", and computing power has also become synonymous with \"wealth\".</p><p><img src=\"https://static.tigerbbs.com/5532287cd6f926f8872e91441dd9483a\" tg-width=\"843\" tg-height=\"431\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Bitcoin soars</p><p>The resulting surge in demand has led to an increase in the volume and price of Nvidia's graphics cards, and the game business has also taken off, creating revenue of US $3.2 billion in the third quarter of 2021, and a year-on-year growth of 42%.</p><p>At the same time, the global data center industry also ushered in spring: the scale reached US $76.56 billion, a year-on-year increase of 13.5%, and the growth rate will remain above 10% in the next few years. [5] Data centers are the product of the wave of AI development, which means that Nvidia, which owns both CUDA and GPU, has won again. Among the world's top 500 supercomputers, 342 are served by Nvidia.</p><p>This trend was also quickly reflected in Nvidia's financial report: In 2021, data center revenue increased by 124% year-on-year, and surpassed games in the first quarter of the following year to become a new revenue pillar.</p><p>While the financial report performance is rising gratifying, the two new narratives brought by Nvidia have also whetted the appetite of the secondary market.</p><p>The first to bear the brunt was one of the biggest outlets of the year-metaverse.</p><p>At the end of 2021, Huang Renxun demonstrated a new generation of tooling software Omniverse, calling it \"metaverse for engineers.\" In the future envisioned by Nvidia, everything in the real universe can be installed into the virtual world with the help of Omniverse and GPU computing power, providing people with a key to metaverse. On the day of the release, Nvidia's stock price reached a record high.</p><p><img src=\"https://static.tigerbbs.com/3b14b53638f1068c41b8107020948235\" tg-width=\"600\" tg-height=\"341\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Another new narrative comes from ARM: In 2021, Nvidia is steadily advancing matters related to the acquisition of ARM from Japan's SoftBank.</p><p>ARM is a technology patent provider in the field of mobile chips. More than 90% of smartphones use ARM architecture. Once the acquisition is completed, Huang Renxun has the opportunity to unify the PC and mobile markets, and the only legend of Nvidia will be left in the world.</p><p>Everything seems to be moving towards<b>Old immortal computing power, boundless magic power</b>The direction of.</p><p><b>04. Shui Inverse: Has the super power of computing power disappeared?</b></p><p>Computing power is power, and computing power determines the ability of AI. After more than ten years, not only Nvidia's believers understand, but also the U.S. government understands:</p><p>In this quarter alone, Nvidia's sales of these two chips exported to China have reached US $400 million. You know, in the latest fiscal quarter, Nvidia's total revenue was only US $6.7 billion, and he must not want to lose the Chinese market.</p><p><b>But Nvidia's water reversal is more than just that.</b></p><p>At the beginning of this year, before the dream of unifying the rivers and lakes had begun, Nvidia's ARM acquisition road suffered joint attacks from governments and global technology giants:</p><p>First, in 2021, the four technology giants Qualcomm, Microsoft, Intel, and Amazon formed an \"anti-Nvidia alliance\" to jointly provide monopoly evidence to regulatory agencies in various countries in an attempt to stop the acquisition.</p><p>Later, when Huang Renxun submitted acquisition applications to various countries, the global regulatory agencies responded exactly the same-delay. Among them, the reason given by the European Union is the most wonderful: because there is a summer vacation.</p><p>On February 8, 2022, Nvidia finally received a reply from the regulatory agencies of the United States, the United Kingdom and the European Union. Unfortunately, the answer was no. The reason was that it was worried about the possible serious monopoly in the global semiconductor industry. By then, the neutrality of ARM will disappear.</p><p>For Huang Renxun<b>, the failure of ARM acquisition was just the beginning, and soon after, the graphics card speculation market also collapsed</b>。</p><p>In March 2021, CCTV sent reporters to \"undercover\" the digital market, exposing the path of graphics card profiteers to get rich. But a year later, when I revisited my old place, there was a completely opposite scene in front of me. Seeing the reporter who made an unannounced visit, the merchants in Huaqiangbei, Shenzhen, couldn't hide their grief, bluntly saying that they took the order at a high price, and now they will lose three or four thousand yuan for every video card they sell. At the most extreme moment, the graphics card dropped by 1,000 yuan a month.</p><p><img src=\"https://static.tigerbbs.com/302a2d8cf0eeb0cd244cef3ed5f58083\" tg-width=\"533\" tg-height=\"300\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In August this year, the RTX30 series graphics cards, which used to be \"hard to find a card\", have successfully broken, and the price of second-hand graphics cards on eBay has generally been halved.</p><p>Even so, there are still many voices calling for \"don't take over\"-there is still room for further bottoming out in prices. Wait for the party to shout the slogan \"If you don't buy it, I won't buy it, the graphics card will drop by 200 tomorrow\", while figuring out when the profiteers who hoarded goods at high prices last year will go to the rooftop to perform \"trapeze\".</p><p><img src=\"https://static.tigerbbs.com/42454d54a829cc393282f8a8629a717a\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>In just one year, the demand for graphics cards has shrunk sharply. In the past, graphics cards with both volume and price rising suddenly became unsalable, which became the chief culprit of Nvidia's performance thunderstorm. In the second quarter, the revenue of the game business (graphics card) was only about US $6.7 billion, a year-on-year and quarter-on-quarter decrease of more than 30%. Affected by inventory problems, Nvidia's gross profit margin also fell to 43.7%, far lower than the previous forecast of 65.1%.</p><p>In just one year, the myth of GPU computing power suddenly lost its magic?</p><p><b>05. A grain of ash of the times falls on Nvidia's head</b></p><p>But unlike Nvidia's failures in the past, Huang Renxun didn't do anything wrong this time, but times have changed.</p><p>IC Insights, a market research company, has compiled a statistics: Since the 1990s, the rise and fall of the semiconductor industry has been almost highly bound to the trend of global GDP.</p><p>The logic behind it is not difficult to understand,<b>Only when people's pockets get bigger and bigger day by day will they care which one is faster, Nvidia 3090TI or AMD 6950XT</b>, game houses will switch to new computers for a better experience, crypto miners firmly believe that \"computing power is wealth\" are frantically hoarding graphics cards, even scholars have sufficient budgets to build data centers for research, multiple waves alternate, everyone Together, they pushed computing power to the altar.</p><p>But when the epidemic came along with inflation and rate hike, what we saw was that at the performance briefing in the second quarter, Nvidia Chief Financial Officer Kress blamed the thunderstorm on Azhai-the demand for game products suddenly slowed down. But the other half of what he didn't say explicitly was the world that he couldn't go back to:</p><p>Regarding the rights brought by computing power. The crash of cryptocurrency caused a large number of miners to announce \"surrender\" and suspend mining starting from June 7 because of the plummeting income. In 2022, at most, even Bitcoin will fall by two-thirds in half a year, and the computing power expenditure of miners can no longer cover the income of currency prices.</p><p>As for the beautiful imagination of computing power, although in the long run, the expansion of computing power will never end; However, in the short term, Nvidia will face Internet giants whose growth is slowing down around the world, as well as PC shipments that have been shrinking for many years. The sudden ban on U.S. data center exports has made Nvidia unspeakable.</p><p>What is left to Nvidia is a world that suspends growth and a world that begins to counter globalization.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/IBQCC7No2YTvi5ArfwVg2Q\">远川研究所</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3f1c866c487eb9e101f73a62d4495ce9","relate_stocks":{"BK4567":"ESG概念","BK4550":"红杉资本持仓","BK4548":"巴美列捷福持仓","BK4141":"半导体产品","BK4534":"瑞士信贷持仓","BK4554":"元宇宙及AR概念","BK4503":"景林资产持仓","BK4581":"高盛持仓","BK4532":"文艺复兴科技持仓","BK4543":"AI","BK4533":"AQR资本管理(全球第二大对冲基金)","NVDA":"英伟达","BK4527":"明星科技股","BK4529":"IDC概念","BK4551":"寇图资本持仓","BK4549":"软银资本持仓","BK4579":"人工智能"},"source_url":"https://mp.weixin.qq.com/s/IBQCC7No2YTvi5ArfwVg2Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101174405","content_text":"刚刚开幕的世界人工智能大会上，已经没有人关心今年到底马斯克会语出惊人，还是会BAT三巨头重聚斗法，所有交头接耳的观众就关心一件事——英伟达的A100、H100显卡，真的要断供了吗？一旦英伟达和AMD的GPU被断供，无异于对人工智能产业发展的釜底抽薪——任何一个真正的AI研究机构，都有A100与H100的身影。最近一年里，英伟达的日子并不好过，2022年二季度，英伟达交出一份令人大跌眼镜的财报，营收环比下滑了19%。支撑起主要营收的游戏业务，更是环比下降44%，同比下降33%。第一大业务游戏暴雷，第二大业务数据中心遭遇美国釜底抽薪，英伟达的股价也持续探底。相比于去年年底的高点，英伟达的股价如今已腰斩近一半，市值仅剩3774亿美金。而回顾一年前，关于英伟达的故事，还是另一套叙事：2021年4月，英伟达召开了一场“元宇宙发布会”。演讲到一半，CEO黄仁勋被偷偷替换成了数字人，几乎无人察觉。三个月后14秒的“偷天换日”被公之于众，英伟达成功加封“元宇宙巨头”。毫无疑问，科技产业中，“元宇宙”是这一年被讨论最多的三个字。趁着风口，英伟达股价一路飘红。11月，英伟达市值突破8000亿美元，一跃成为全球市值最高的半导体企业。作为元宇宙的基建、AI风口的算力支撑、虚拟币矿工的核心生产力，这一年，英伟达的业绩同样亮眼：总营收为269.14亿美元，同比增长61%。真假难辨的14秒一年不到的时间，关于英伟达，到底发生了什么？01、崛起：算力逆转生死要读懂英伟达的当下，还要从英伟达与算力的关系说起。在硅谷，很少有企业家能固执到英伟达创始人黄仁勋这般地步，而他的信仰很简单：算力就是权力。在这样的信念之下，2010年，英伟达发布了一款拥有爆炸级性能，同时也拥有爆炸级发热的新一代显卡——GTX480。有人做过测试，马力全开的GTX480，工作温度动辄飙升到六、七十度，一不小心，就带着其它元器件一同共赴黄泉。这又如何?黄仁勋“我要我觉得”，算力就是越大越好。一年后，英伟达发布最新显卡GTX590。一家国外媒体才将GTX590最大功率运行不久，一道青烟就从电路板上袅袅冒出，英伟达显卡“核弹”的称谓，自此不胫而走。这些只是前菜。当英伟达端出后继款GTX690时，怒其不争的网友直接将其加入到“航母杀手”的百科词条。甘肃卫视的主持人看完后信以为真，将其写到了军事节目的口播稿中：“特别是搭载GTX690核显卡的改进型号，一发即可摧毁一个航母战斗群！”节目播出后，硅谷狂人黄仁勋，再次被加冕“两弹元勋”桂冠。超大算力炸毁航母集群是假的，但是炸飞英伟达的移动端梦想是真的：2011年，传统PC式微，智能机崛起，成为新一代超级终端的趋势已经逐渐明朗：急于在智能机领域大展身手的英伟达推出了全球首个四核处理器Tegra 3，相比前代性能提升了3倍。宣传很美好对不对？急于逆转智能手机业务颓势的HTC信了，选择为英伟达的梦想窒息一把：在最新的旗舰机中，激进地用上了Tegra 3。结果瘦死的骆驼，变成了发烧的骆驼。Tegra 3暴力堆砌算力换来的严重发热问题，成了压死HTC智能机复苏的最后一根稻草，英伟达的逐梦移动端之旅，也自此暂时画上了句号。黄仁勋对算力的偏执，把当时的英伟达带入了死胡同：显卡自燃与败走智能手机浪潮，一度让英伟达的股价跌去近一半。02、逆转：当算力真正成为权力但败也算力，成也算力。绝境关头，黄仁勋“算力改变世界”的信仰，意外在AI领域得到了佐证。2012年之前，AI曾经历过两轮浪潮，两次都因为客观条件制约而难以为继。简单来说，第一次的限制条件是算力不足，第二次则是成本过高。因为此前AI识别多仰赖CPU。CPU适合复杂的通用串行任务，内置最多16个强力ALU（算术逻辑单元），翻译一下，这相当于一个能做微积分的大学生，脑子好但效率偏低。2010年，AI先驱吴恩达为了让AI程序识别出一只猫，不得不花费了16000个CPU处理器，相当于四五十个网吧同时火力全开，花费成本大约100万美元。而GPU适合简单特定的并行任务，内置数千个简单ALU，约等于数百个只能做加减乘除的小学生，脑子差了点，但赢在效率高。所以总结一下就是，处理复杂的逻辑任务，担任指挥官的活儿，得CPU专属；但做简单重复、暴力堆砌算力的事情，GPU最合适不过。哪里需要暴力堆砌算力？过去，GPU公认的应用场景仅有游戏。但黄仁勋的信仰可是算力能改变世界：为了让GPU算力被更好的发挥，英伟达还推出了一款名为CUDA的工具软件，借此降低GPU编程门槛，并不计成本投入了6年。这让AI学者们最终意识到了GPU算力的强大。对AI深度学习等场景而言，“100个小学生大脑”已经够用——这意味着高算力的GPU明显更合适。吴恩达将当年的AI程序换成GPU后，惊讶地发现只需要12个。这一重大发现，结合软件突破，引爆了全球第三次AI发展浪潮，也把同时拥有AI软硬件生态的英伟达，彻底推向山巅：今天全球最大的亚马逊公有云、BAT的AI研究，底层都离不开英伟达GPU的技术支持。凡有AI处，无人不提英伟达。正如黄仁勋所坚信的那般，这回算力真的改变了世界。巧合的是，同时期兴起的加密货币同样高度依赖GPU算力。诸多风口加持之下，显卡常年“一卡难求”，“霸总”黄仁勋成为名副其实的“显卡教父”。显卡吧的“信众”们曾用《史记》的形式记录下这些光辉事迹，并在最后评价道：“先有仁勋后有天，显卡在手虐神仙。”03、加冕：GPU吞噬一切2019年的GTC大会上，黄仁勋又一次公开提及了他对算力的信仰：“就算摩尔定律走向终结，GPU也将无所不能。”终于在2021年，他的信仰得到了二级市场的普遍认可。木头姐等投资大牛先后加码，二级市场一路高歌猛进，市值一年翻3倍。这背后主要源自两个增长和两个全新叙事。增长来自两大主营业务，即游戏与数据中心。由于疫情导致的居家时间延长，游戏需求增加。据Newzoo的统计，2021年全球游戏市场增长了1.4%。如需运行PC端的3A级游戏，独立显卡是必备工具，当下几乎只有英伟达和AMD两个选择，其中英伟达在市占率上有着绝对优势——同年第三季度英伟达吃下了83%的市场。不过，游戏宅之外，还有一个更庞大的群体在抢购游戏显卡。2021年，加密货币市场迎来新一轮牛市：比特币涨了2倍多，以太坊4倍，而后来引发币圈地震的LUNA涨了超80倍。市场繁荣催生了大量“加密矿工”。挖矿是产出加密货币的手段，仰赖强大的GPU算力。由顶配游戏显卡制成的矿机，成为了名副其实的“淘金铲”，算力也成了“财富”的代名词。比特币暴涨由此带来的需求暴增，导致英伟达显卡量价齐升，游戏业务也顺势起飞，在2021年三季度创造了32亿美元的营收，以及42%的同比增长。同一时间，全球数据中心行业也迎来了春天：规模达到了765.6亿美元，同比增长13.5%，且未来数年增速仍将保持在10%以上。[5]数据中心是AI发展浪潮的产物，这意味着同时坐拥CUDA和GPU的英伟达又一次赢麻了。全球Top500的超级计算机中，用英伟达服务的就有342台。这一趋势也很快反映到英伟达财报中：2021年，数据中心营收同比增长了124%，并于次年第一季度超越游戏，成为新的营收支柱。财报业绩涨势喜人的同时，英伟达带来的两个新叙事，也让二级市场吊足了胃口。首当其冲的，便是当年最大的风口之一——元宇宙。2021年底，黄仁勋展示了新一代工具软件Omniverse，称其为“工程师的元宇宙”。在英伟达设想的未来中，凡是真实宇宙有的东西，都能借助Omniverse和GPU算力，装进虚拟世界，给人们提供了一把通往元宇宙的钥匙。发布当天，英伟达股价迎来历史新高。另一个新叙事则来自ARM：2021年，英伟达正稳步推进从日本软银手中收购ARM相关事宜。ARM是移动芯片领域的技术专利提供商，超九成智能手机都使用了ARM架构。一旦完成收购，黄仁勋有机会一统PC和移动市场，江湖从此将仅剩英伟达的传说。一切似乎都在朝着算力老仙，法力无边的方向进发。04、水逆：算力的超能力消失了吗？算力就是权力，算力决定AI的能力，经过十多年，不仅英伟达的信众明白了，美国政府也明白了：仅仅这个季度，英伟达向中国出口的这两款芯片的销售额，就已经达到4亿美元。要知道，最近一个财季，英伟达总营收仅有67亿美元，他一定不想失去中国市场。但英伟达的水逆，绝不仅仅如此。今年年初，一统江湖的美梦尚未开启，英伟达的ARM收购之路，就遭受到了来自各国政府以及全球科技巨头的联合狙击：先是2021年，高通、微软、英特尔、亚马逊四家科技巨头结成“反英伟达同盟”，共同向各国监管机构提供垄断证据，试图阻止收购案。再后来，黄仁勋给各个国家递交收购申请时，全球监管机构的反应如出一辙——拖。其中欧盟给出的理由最为奇葩：因为要放暑假。到了2022年2月8日，英伟达终于得到了美国、英国和欧盟三地监管机构的回复，可惜答案却是拒绝，理由是担忧全球半导体行业可能产生的严重垄断，届时，ARM的中立性将荡然无存。对黄仁勋来说，ARM收购失败只是个开始，不久后，显卡炒作市场也出现了崩塌。2021年3月，央视派出记者“卧底”数码市场，揭露了显卡奸商的暴富之路。可一年后故地重游，眼前却出现了一副截然相反的景象。见到暗访的记者，深圳华强北的商户难掩悲痛之情，直言在高价时接了盘，如今每卖一张显卡就要亏三四千元。最极端的时刻，显卡一个月跌1000元。今年8月，过去“一卡难求”的RTX30系显卡已成功破发，eBay上二手显卡的价格也普遍对半腰斩。即便如此，依旧有不少声音呼吁“别接盘”——价格仍有进一步探底的空间。等等党们一边高喊着“你不买我不买，显卡明天降二百”的口号，一边盘算着去年高价囤货的奸商何时走上天台表演“空中飞人”。仅仅一年时间，显卡需求急剧萎缩。过去量价齐升的显卡突然滞销，成为英伟达业绩暴雷的罪魁祸首。二季度游戏业务（显卡）的营收仅有67亿美元左右，同比、环比都下跌了超3成。受到库存问题影响，英伟达毛利率也跌至43.7%，远低于此前预测的65.1%。仅仅一年时间，GPU算力神话，突然失去了魔力？05、时代的一粒灰，落在英伟达的头上但和过去英伟达的失败不同，这一次黄仁勋并没有做错什么，只是时代变了。市场研究公司IC Insights统计过一份数据：从90年代开始，半导体产业的涨跌几乎和全球GDP走势高度绑定。背后的逻辑不难理解，只有当人们的腰包一天比一天鼓，才会在乎英伟达 3090TI和AMD 6950XT到底哪个更快，游戏宅才会为了更好的体验换台新电脑，加密矿工才坚信“算力即财富”疯狂囤入显卡，连学者都有充足的预算，搭建数据中心做研究，多股浪潮交替，所有人一同把算力推上了神坛。但是当疫情伴随着通胀与加息一同到来，我们看到的，则是二季度的业绩说明会上，英伟达首席财务官克雷斯将暴雷归咎于阿宅——游戏产品的需求突然放缓。但他没有明说的另外半句，则是那个已经回不去的世界：关于算力的带来的权利。加密货币的崩盘，使得6月7日开始，大批矿工因为收入暴跌，宣布“投降”暂停挖矿。2022年，最多时，就连比特币都在半年时间跌去三分之二，矿工的算力支出不再能覆盖币价的收益。而关于算力的美好想象，尽管长期来看，算力的扩张永无止境；然而短期内，英伟达要面对的则是全球范围内增长变慢的互联网巨头们，以及连续多年缩水的PC出货，突如其来的美国数据中心出口禁令更是让英伟达有苦说不出。留给英伟达的，是一个暂缓增长的世界，一个开始逆全球化的世界。","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":2566,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9939251438,"gmtCreate":1662122649625,"gmtModify":1676537002565,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939251438","repostId":"1103083207","repostType":4,"repost":{"id":"1103083207","kind":"news","pubTimestamp":1662019756,"share":"https://ttm.financial/m/news/1103083207?lang=en_US&edition=fundamental","pubTime":"2022-09-01 16:09","market":"us","language":"zh","title":"Which U.S. stocks do asset management giants favor in the second quarter amid the weakening market?","url":"https://stock-news.laohu8.com/highlight/detail?id=1103083207","media":"智通财经网","summary":"来看看这些“聪明钱”都买了什么。","content":"<p><html><head></head><body>Author: Zhuang Lijia</p><p>In the past two weeks, many asset management giants have published their respective second-quarter position reports (13F). This article will discuss including<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>, Bridgewater Fund and other 12 asset management giants' second-quarter position reports to take a look at what these \"smart money\" bought.</p><p>1. Under the weakening of the market, the market value of positions held by asset management giants has generally shrunk</p><p>Judging from the data released by various asset management giants, except<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>In addition, the total market value of the positions held by other asset management giants in the second quarter declined compared with the first quarter. Among them, the total market value of Tiger Global's positions in the second quarter, known as the \"technology stock hunter\", was close to \"halved\" from the previous quarter. Other asset management giants with better performance include: the total market value of Jinglin Asset's positions fell by less than 4% month-on-month, and the total market value of Bridgewater Fund's positions fell by less than 5% month-on-month.</p><p><img src=\"https://static.tigerbbs.com/2ad3d89fa9ff826b4410e58b5acf337b\" tg-width=\"945\" tg-height=\"399\" referrerpolicy=\"no-referrer\"/></p><p>The shrinking market value of the positions of asset management giants is basically consistent with the performance of the overall market. Data show that in the second quarter, the S&P 500 index fell 16.45%, while the Nasdaq index fell 22.44%.</p><p>2. Technology stocks are still favored</p><p>Although the trend of U.S. technology stocks in the second quarter was not good, the position reports of many asset management giants show that technology stocks are still their key positions.</p><p>Among the second quarter holdings of BlackRock, the world's largest asset manager, technology stocks accounted for the highest proportion, at 22.35%. The top five holdings are all technology stocks, followed by<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(AAPL.US),<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>(MSFT.US),<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>(AMZN.US), Alphabet (GOOGL.US) and<a href=\"https://laohu8.com/S/GOOG\">Google</a>(GOOG.US)<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA.US) with<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>(NVDA.US) are BlackRock's sixth and tenth largest holdings respectively.</p><p><img src=\"https://static.tigerbbs.com/7f577b5e43aca056f22ac2f0ae24f4c7\" tg-width=\"1294\" tg-height=\"680\" referrerpolicy=\"no-referrer\"/></p><p>Apple is also the largest holding of Buffett's Berkshire Hathaway, accounting for 42.20% of the portfolio. It is worth mentioning that Berkshire Hathaway also increased its holdings of about 3.8 million Apple shares in the third quarter. At the same time, Apple is also Invesco Group,<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>、<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley's second largest holding,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>The fourth largest holding stock.</p><p>In addition to Apple, Microsoft is also favored by asset management giants. Microsoft is JPMorgan Chase's top holding, and its holdings in the second quarter increased by 10% compared with the previous quarter. Invesco Group, Bank of America and Morgan Stanley all regard Microsoft as their largest holdings. Among them, Morgan Stanley significantly increased its holdings of Microsoft stock in the second quarter, an increase of 50% from the previous quarter. Goldman Sachs also increased its holdings in Microsoft by 13% in the second quarter, making Microsoft its third largest holding.</p><p>Among the top five holdings held by \"technology stock hunter\" Tiger Global in the second quarter, Microsoft and<a href=\"https://laohu8.com/S/META\">Meta Platforms</a>(META.US) ranked second and fifth respectively. It is worth mentioning that Tiger Global's position in Meta Platforms rose from tenth in the previous quarter to fifth, a significant increase of 15% from the number of positions held in the previous quarter. In addition, Tiger Global also opened a position in Alphabet.</p><p><img src=\"https://static.tigerbbs.com/53fedca5544b2bcd89d98b8d5233cf78\" tg-width=\"1335\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/></p><p>Bridgewater Fund's top five buying targets also include<a href=\"https://laohu8.com/S/MA\">MasterCard</a>(MA.US), Alphabet and Meta Platforms, three technology stocks, the fund also opened a long position in Amazon (AMZN.US) in the second quarter.</p><p>Although technology stocks generally suffered heavy blows in the second quarter, the strong rebound of U.S. stocks in July seems to prove the \"wise decision\" of asset management giants to increase their positions in technology stocks. Take Apple, which sits on the \"throne\" of technology stocks, as an example. In the case of poor overall performance of the market, Apple's stock price fell to a low of $128.86 on June 16, but on August 18, Apple's stock price rebounded about 34% from the June low to above $174, which is less than 5% short of the stock's all-time high of about $182 set in January this year.</p><p>However, after Federal Reserve Chairman Jerome Powell made hawkish remarks at the global central bank meeting in Jackson Hole, the \"head-on confrontation\" between technology stocks and U.S. bond yields may become more intense, which may lead to a sharp increase in technology stocks not long ago. Asset management companies are facing huge losses. Analysts believe that technology stocks sensitive to interest rates may sell off again in the future, as almost every sign indicates that Powell will stick to his tough stance given the high global prices of goods and services.</p><p>Soaring interest rates have increased funding costs for tech companies. That's not a problem for cash-flow-rich tech companies like Apple and Microsoft, though, and fundamentally sound tech stocks tend to have solid profitability, healthy balance sheets, and the ability to navigate deflationary trends. But for those unprofitable technology companies that are constantly burning money in pursuit of rapid growth, the risk has risen sharply.</p><p>3. Pharmaceutical, energy, and daily consumer stocks each have their own merits</p><p>In BlackRock's second-quarter position report, from the perspective of changes in position ratios, its top five buying targets include<a href=\"https://laohu8.com/S/UNH\">United Health</a>Johnson & Johnson (JNJ.US),<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>(MRK.US), Pfizer (PFE.US) four pharmaceutical stocks, and the other is an energy stock<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>(XOM.US).</p><p><img src=\"https://static.tigerbbs.com/f91529edbcdf724d3ec71ea03549b662\" tg-width=\"396\" tg-height=\"425\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>Also Bridgewater's second largest holding, the fund also significantly increased its holdings of CVS Health (CVS.US) in the second quarter. Morgan Stanley also increased its holdings of UnitedHealth and Johnson & Johnson in the second quarter.</p><p>JPMorgan Chase also prefers pharmaceutical stocks. Its top ten holdings include three pharmaceutical stocks: UnitedHealth, AbbVie (ABBV.US) and Bristol-Myers Squibb (BMY.US). Among them, the number of positions held by UnitedHealth is higher than that of the previous quarter. An increase of 20%, the number of positions held by AbbVie and Bristol-Myers Squibb also increased slightly from the previous quarter.</p><p><img src=\"https://static.tigerbbs.com/d9c76e02855a9d2091d0fe277347886c\" tg-width=\"1335\" tg-height=\"628\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BX\">Blackstone</a>It prefers energy stocks. Four of its top five holdings are energy stocks, namely Cheniere Energy (CQP.US), Energy Transfer (ET.US),<a href=\"https://laohu8.com/S/MPLX\">MPLX LP</a>(MPLX.US) and Enterprise Products (EPD.US).</p><p><img src=\"https://static.tigerbbs.com/1670c57df8eeabe788af2f0a29a9ea34\" tg-width=\"1333\" tg-height=\"320\" referrerpolicy=\"no-referrer\"/></p><p>Energy stocks that have received much attention this year<a href=\"https://laohu8.com/S/OXY\">Western Petroleum</a>(OXY.US) unsurprisingly became Berkshire Hathaway's largest buy target in the second quarter. Berkshire Hathaway has significantly increased its holdings of Occidental Petroleum this year and submitted an application to the Federal Energy Regulatory Commission to buy more Occidental Petroleum shares on July 11. Currently, Berkshire Hathaway owns 188.5 million shares of Occidental Petroleum, accounting for a shareholding ratio of 20.2%, exceeding the 20% consolidation threshold.</p><p>In addition to Occidental Petroleum, Berkshire Hathaway also significantly increased its holdings in the second quarter<a href=\"https://laohu8.com/S/CVX\">Chevron</a>(CVX.US), the number of holdings increased by 316% from the previous quarter, making the latter Berkshire Hathaway's fourth largest holding. Some market analysts believe that Buffett has always favored traditional oil stocks, and traditional energy is still a long-term rigid demand in the future. Especially after investment restrictions, leading companies have followed the logic of increasing concentration, financial data is improving, and the overall valuation level is also improving with the increase.</p><p>Daily consumer stocks captured the \"heart\" of Bridgewater Fund. Among the top ten holdings held by Bridgewater in the second quarter, there are as many as five daily consumer stocks, namely Procter & Gamble (PG.US), Coca-Cola (KO.US), PepsiCo (PEP.US), Costco (COST.US) and Walmart (WMT.US).</p><p><img src=\"https://static.tigerbbs.com/e39a4d9339453ef1453aee421b14e2a5\" tg-width=\"1295\" tg-height=\"676\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Which U.S. stocks do asset management giants favor in the second quarter amid the weakening market?</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\">\nWhich U.S. stocks do asset management giants favor in the second quarter amid the weakening market?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2022-09-01 16:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Zhuang Lijia</p><p>In the past two weeks, many asset management giants have published their respective second-quarter position reports (13F). This article will discuss including<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway,<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>, Bridgewater Fund and other 12 asset management giants' second-quarter position reports to take a look at what these \"smart money\" bought.</p><p>1. Under the weakening of the market, the market value of positions held by asset management giants has generally shrunk</p><p>Judging from the data released by various asset management giants, except<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>In addition, the total market value of the positions held by other asset management giants in the second quarter declined compared with the first quarter. Among them, the total market value of Tiger Global's positions in the second quarter, known as the \"technology stock hunter\", was close to \"halved\" from the previous quarter. Other asset management giants with better performance include: the total market value of Jinglin Asset's positions fell by less than 4% month-on-month, and the total market value of Bridgewater Fund's positions fell by less than 5% month-on-month.</p><p><img src=\"https://static.tigerbbs.com/2ad3d89fa9ff826b4410e58b5acf337b\" tg-width=\"945\" tg-height=\"399\" referrerpolicy=\"no-referrer\"/></p><p>The shrinking market value of the positions of asset management giants is basically consistent with the performance of the overall market. Data show that in the second quarter, the S&P 500 index fell 16.45%, while the Nasdaq index fell 22.44%.</p><p>2. Technology stocks are still favored</p><p>Although the trend of U.S. technology stocks in the second quarter was not good, the position reports of many asset management giants show that technology stocks are still their key positions.</p><p>Among the second quarter holdings of BlackRock, the world's largest asset manager, technology stocks accounted for the highest proportion, at 22.35%. The top five holdings are all technology stocks, followed by<a href=\"https://laohu8.com/S/AAPL\">Apple</a>(AAPL.US),<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>(MSFT.US),<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>(AMZN.US), Alphabet (GOOGL.US) and<a href=\"https://laohu8.com/S/GOOG\">Google</a>(GOOG.US)<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA.US) with<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>(NVDA.US) are BlackRock's sixth and tenth largest holdings respectively.</p><p><img src=\"https://static.tigerbbs.com/7f577b5e43aca056f22ac2f0ae24f4c7\" tg-width=\"1294\" tg-height=\"680\" referrerpolicy=\"no-referrer\"/></p><p>Apple is also the largest holding of Buffett's Berkshire Hathaway, accounting for 42.20% of the portfolio. It is worth mentioning that Berkshire Hathaway also increased its holdings of about 3.8 million Apple shares in the third quarter. At the same time, Apple is also Invesco Group,<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>、<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>, Morgan Stanley's second largest holding,<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>The fourth largest holding stock.</p><p>In addition to Apple, Microsoft is also favored by asset management giants. Microsoft is JPMorgan Chase's top holding, and its holdings in the second quarter increased by 10% compared with the previous quarter. Invesco Group, Bank of America and Morgan Stanley all regard Microsoft as their largest holdings. Among them, Morgan Stanley significantly increased its holdings of Microsoft stock in the second quarter, an increase of 50% from the previous quarter. Goldman Sachs also increased its holdings in Microsoft by 13% in the second quarter, making Microsoft its third largest holding.</p><p>Among the top five holdings held by \"technology stock hunter\" Tiger Global in the second quarter, Microsoft and<a href=\"https://laohu8.com/S/META\">Meta Platforms</a>(META.US) ranked second and fifth respectively. It is worth mentioning that Tiger Global's position in Meta Platforms rose from tenth in the previous quarter to fifth, a significant increase of 15% from the number of positions held in the previous quarter. In addition, Tiger Global also opened a position in Alphabet.</p><p><img src=\"https://static.tigerbbs.com/53fedca5544b2bcd89d98b8d5233cf78\" tg-width=\"1335\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/></p><p>Bridgewater Fund's top five buying targets also include<a href=\"https://laohu8.com/S/MA\">MasterCard</a>(MA.US), Alphabet and Meta Platforms, three technology stocks, the fund also opened a long position in Amazon (AMZN.US) in the second quarter.</p><p>Although technology stocks generally suffered heavy blows in the second quarter, the strong rebound of U.S. stocks in July seems to prove the \"wise decision\" of asset management giants to increase their positions in technology stocks. Take Apple, which sits on the \"throne\" of technology stocks, as an example. In the case of poor overall performance of the market, Apple's stock price fell to a low of $128.86 on June 16, but on August 18, Apple's stock price rebounded about 34% from the June low to above $174, which is less than 5% short of the stock's all-time high of about $182 set in January this year.</p><p>However, after Federal Reserve Chairman Jerome Powell made hawkish remarks at the global central bank meeting in Jackson Hole, the \"head-on confrontation\" between technology stocks and U.S. bond yields may become more intense, which may lead to a sharp increase in technology stocks not long ago. Asset management companies are facing huge losses. Analysts believe that technology stocks sensitive to interest rates may sell off again in the future, as almost every sign indicates that Powell will stick to his tough stance given the high global prices of goods and services.</p><p>Soaring interest rates have increased funding costs for tech companies. That's not a problem for cash-flow-rich tech companies like Apple and Microsoft, though, and fundamentally sound tech stocks tend to have solid profitability, healthy balance sheets, and the ability to navigate deflationary trends. But for those unprofitable technology companies that are constantly burning money in pursuit of rapid growth, the risk has risen sharply.</p><p>3. Pharmaceutical, energy, and daily consumer stocks each have their own merits</p><p>In BlackRock's second-quarter position report, from the perspective of changes in position ratios, its top five buying targets include<a href=\"https://laohu8.com/S/UNH\">United Health</a>Johnson & Johnson (JNJ.US),<a href=\"https://laohu8.com/S/MRK\">Merck & Co</a>(MRK.US), Pfizer (PFE.US) four pharmaceutical stocks, and the other is an energy stock<a href=\"https://laohu8.com/S/XOM\">ExxonMobil</a>(XOM.US).</p><p><img src=\"https://static.tigerbbs.com/f91529edbcdf724d3ec71ea03549b662\" tg-width=\"396\" tg-height=\"425\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>Also Bridgewater's second largest holding, the fund also significantly increased its holdings of CVS Health (CVS.US) in the second quarter. Morgan Stanley also increased its holdings of UnitedHealth and Johnson & Johnson in the second quarter.</p><p>JPMorgan Chase also prefers pharmaceutical stocks. Its top ten holdings include three pharmaceutical stocks: UnitedHealth, AbbVie (ABBV.US) and Bristol-Myers Squibb (BMY.US). Among them, the number of positions held by UnitedHealth is higher than that of the previous quarter. An increase of 20%, the number of positions held by AbbVie and Bristol-Myers Squibb also increased slightly from the previous quarter.</p><p><img src=\"https://static.tigerbbs.com/d9c76e02855a9d2091d0fe277347886c\" tg-width=\"1335\" tg-height=\"628\" referrerpolicy=\"no-referrer\"/></p><p><a href=\"https://laohu8.com/S/BX\">Blackstone</a>It prefers energy stocks. Four of its top five holdings are energy stocks, namely Cheniere Energy (CQP.US), Energy Transfer (ET.US),<a href=\"https://laohu8.com/S/MPLX\">MPLX LP</a>(MPLX.US) and Enterprise Products (EPD.US).</p><p><img src=\"https://static.tigerbbs.com/1670c57df8eeabe788af2f0a29a9ea34\" tg-width=\"1333\" tg-height=\"320\" referrerpolicy=\"no-referrer\"/></p><p>Energy stocks that have received much attention this year<a href=\"https://laohu8.com/S/OXY\">Western Petroleum</a>(OXY.US) unsurprisingly became Berkshire Hathaway's largest buy target in the second quarter. Berkshire Hathaway has significantly increased its holdings of Occidental Petroleum this year and submitted an application to the Federal Energy Regulatory Commission to buy more Occidental Petroleum shares on July 11. Currently, Berkshire Hathaway owns 188.5 million shares of Occidental Petroleum, accounting for a shareholding ratio of 20.2%, exceeding the 20% consolidation threshold.</p><p>In addition to Occidental Petroleum, Berkshire Hathaway also significantly increased its holdings in the second quarter<a href=\"https://laohu8.com/S/CVX\">Chevron</a>(CVX.US), the number of holdings increased by 316% from the previous quarter, making the latter Berkshire Hathaway's fourth largest holding. Some market analysts believe that Buffett has always favored traditional oil stocks, and traditional energy is still a long-term rigid demand in the future. Especially after investment restrictions, leading companies have followed the logic of increasing concentration, financial data is improving, and the overall valuation level is also improving with the increase.</p><p>Daily consumer stocks captured the \"heart\" of Bridgewater Fund. Among the top ten holdings held by Bridgewater in the second quarter, there are as many as five daily consumer stocks, namely Procter & Gamble (PG.US), Coca-Cola (KO.US), PepsiCo (PEP.US), Costco (COST.US) and Walmart (WMT.US).</p><p><img src=\"https://static.tigerbbs.com/e39a4d9339453ef1453aee421b14e2a5\" tg-width=\"1295\" tg-height=\"676\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/785981.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.zhitongcaijing.com/content/detail/785981.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"1103083207","content_text":"作者： 庄礼佳过去两周，许多资管巨头都公布了各自的第二季度持仓报告(13F)。本文将通过对包括伯克希尔哈撒韦、贝莱德、桥水基金等12家资管巨头的二季度持仓报告来看看这些“聪明钱”都买了什么。1、大盘走弱之下 资管巨头持仓市值普遍缩水从各家资管巨头公布的数据来看，除了摩根士丹利之外，其余资管巨头在二季度的持仓总市值均较一季度出现了下滑。其中，有着“科技股猎手”之称的老虎环球二季度持仓总市值环比接近“腰斩”。其余表现较好的资管巨头包括：景林资产持仓总市值环比下降不到4%，桥水基金持仓总市值环比下降不到5%。资管巨头们的持仓市值缩水与整体市场的表现基本一致。数据显示，在二季度，标普500指数下跌了16.45%，而纳斯达克指数则下跌了22.44%。2、科技股仍获青睐尽管美股科技股在二季度的走势并不好，但多家资管巨头的持仓报告显示，科技股仍是其重点持仓标的。全球最大资管贝莱德的二季度持仓中，科技股所占比例最高，为22.35%。前五大重仓股均为科技股，依次为苹果(AAPL.US)、微软(MSFT.US)、亚马逊(AMZN.US)、Alphabet(GOOGL.US)和谷歌(GOOG.US)，特斯拉(TSLA.US)与英伟达(NVDA.US)分别是贝莱德第六大、第十大重仓股。苹果同样是巴菲特旗下伯克希尔哈撒韦的第一大重仓股，占投资组合比例高达42.20%。值得一提的是，伯克希尔哈撒韦还在第三季度增持了约380万股苹果股票。与此同时，苹果还是景顺集团、美国银行、高盛、摩根士丹利的第二大重仓股、摩根大通的第四大重仓股。除了苹果之外，微软同样获得资管巨头们的青睐。微软是摩根大通的头号重仓股，在二季度的持仓数量较上季度增加了10%。景顺集团、美国银行和摩根士丹利都将微软作为其第一大重仓股，其中摩根士丹利更是在二季度大幅增持了微软股票，较上季度持仓数量增加了50%。高盛也在二季度将微软的持仓数量增加了13%，使得微软成为其第三大重仓股。“科技股猎手”老虎环球的二季度持仓的前五大重仓股中，微软和Meta Platforms(META.US)分别位列第二和第五。值得一提的是，老虎环球对Meta Platforms的持仓比例从上季度排名第十升至第五，较上季度持仓数量大幅增持15%。此外，老虎环球还建仓了Alphabet。桥水基金的前五大买入标的中也包含万事达(MA.US)、Alphabet和Meta Platforms这三只科技股，该基金还在二季度建仓做多亚马逊(AMZN.US)。尽管科技股在二季度普遍遭遇重击，但美股在7月份的强势反弹似乎证明了资管巨头们加仓科技股的“英明决定”。以坐在科技股“王座”上的苹果为例，在大盘整体表现不佳的情况下，苹果股价在6月16日盘中跌至128.86美元的低点，但在8月18日时，苹果股价就较6月低点反弹约34%至174美元上方，距离该股在今年1月创下的约182美元的历史高点仅差不到5%的涨幅。然而，在美联储主席鲍威尔于杰克逊霍尔全球央行会议上发表鹰派言论之后，科技股与美债收益率之间的“正面交锋”或将愈发激烈，这可能使得前不久大幅加仓科技股的资管公司们面临巨大亏损。分析人士认为，对利率水平敏感的科技类股票未来可能再度遭抛售，因为几乎所有迹象都表明，鉴于目前全球商品和服务价格仍居高不下，鲍威尔将坚持其强硬立场。不断飙升的利率增加了科技公司融资成本。不过，对于苹果和微软等现金流充裕的科技公司来说，这不是问题，基本面良好的科技股往往具有可靠的盈利能力、健康的资产负债表以及驾驭通缩趋势的能力。但对于那些不断烧钱追求快速增长的尚未盈利的科技公司来说，风险则大幅上行。3、医药类、能源类、日常消费类股各有千秋在贝莱德的二季度持仓报告中，从持仓比例变化来看，其前五大买入标的中就包括联合健康(UNH.US)、强生(JNJ.US)、默沙东(MRK.US)、辉瑞(PFE.US)四只医药类股，另外一只则是作为能源类股的埃克森美孚(XOM.US)。强生同样是桥水基金的第二大重仓股，该基金还在二季度大幅增持了CVS Health (CVS.US)。摩根士丹利在二季度也增持了联合健康和强生。摩根大通也偏好医药股，其前十大重仓股中就包含联合健康、艾伯维(ABBV.US)和百时美施贵宝(BMY.US)三只医药股，其中联合健康的持仓数量较上季度增加20%，艾伯维和百时美施贵宝的持仓数量也较上季度小幅增长。黑石更青睐能源股，其前五大重仓股中有四只是能源股，分别是Cheniere Energy(CQP.US)、Energy Transfer(ET.US)、MPLX LP(MPLX.US)以及Enterprise Products(EPD.US)。今年以来备受市场关注的能源股西方石油(OXY.US)不出意外地成为伯克希尔哈撒韦在二季度的第一大买入标的。伯克希尔哈撒韦在今年大幅增持了西方石油，并于7月11日向美国联邦能源管理委员会提交了购买更多西方石油股票的申请。目前，伯克希尔哈撒韦拥有1.885亿股西方石油股票，持股比例达到20.2%，超过了20%的并表门槛。除了西方石油以外，伯克希尔哈撒韦在二季度同样大幅增持了雪佛龙(CVX.US)，持仓数量较上季度增长316%，使得后者成为伯克希尔哈撒韦的第四大重仓股。有市场分析人士认为，巴菲特对传统石油股一直青睐有加，传统能源依旧是未来长期刚需，尤其是限制投资后，头部企业走集中度提升逻辑，财务数据向好，整体估值水位也随着提升。日常消费类股则俘获了桥水基金的“芳心”。桥水二季度持仓的前十大重仓股中有多达五只日常消费类股，分别是宝洁(PG.US)、可口可乐(KO.US)、百事可乐(PEP.US)、好市多(COST.US)和沃尔玛(WMT.US)。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2384,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9939024204,"gmtCreate":1662029545612,"gmtModify":1676536628559,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9939024204","repostId":"1188367124","repostType":4,"isVote":1,"tweetType":1,"viewCount":2499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9930880220,"gmtCreate":1661928489762,"gmtModify":1676536605757,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9930880220","repostId":"1110193028","repostType":4,"repost":{"id":"1110193028","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":1661907934,"share":"https://ttm.financial/m/news/1110193028?lang=en_US&edition=fundamental","pubTime":"2022-08-31 09:05","market":"hk","language":"zh","title":"The winning rate of one lot of Biocyto-B is 50%, and the subscription of 14 lots is stable","url":"https://stock-news.laohu8.com/highlight/detail?id=1110193028","media":"老虎资讯综合","summary":"8月31日，百奥赛图-B发布公告，公司全球发售2175.85万股股份，其中香港发售股份217.6万股，国际发售股份1958.25万股，另有15%超额配股权；发售价为每股发售股份25.22港元，每手买卖","content":"<p><html><head></head><body>August 31,<a href=\"https://laohu8.com/S/02315\">Biocyto-B</a>It was announced that the company sold 21.7585 million shares globally, including 2.176 million shares offered in Hong Kong, 19.5825 million shares offered internationally, and a 15% over-allotment option; The Offer Price is HK $25.22 per Offer Share, with a board lot of 500 shares;<a href=\"https://laohu8.com/S/601995\">CICC</a>(b)<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Are the Joint Sponsors; It is expected that the Shares will be listed on the Main Board of the Stock Exchange on 1 September 2022.</p><p><b>The relevant data of Tiger Information Collation is as follows:</b></p><p><img src=\"https://static.tigerbbs.com/bfe1fe1e76e82123d9604aa786444204\" tg-width=\"1059\" tg-height=\"824\" width=\"100%\" height=\"auto\"/></p><p><b>Distribution results</b></p><p>Group A has 500 shares per lot, with a winning rate of 50% for one lot, and 14 subscriptions are secure in one lot.</p><p>The head of Group B is 400 lots (200,000 shares), and 100 lots (50,000 shares) are allocated.</p><p><img src=\"https://static.tigerbbs.com/55a7b8874bfe77499a8c822eca293038\" tg-width=\"611\" tg-height=\"682\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/d91bc610c3945989c6040d6ea210986d\" tg-width=\"613\" tg-height=\"286\" width=\"100%\" height=\"auto\"/></p><p>The Hong Kong Offer Shares have been slightly oversubscribed. A total of 3,524 valid applications were received to subscribe for a total of 12.9095 million Hong Kong Offer Shares, equivalent to approximately 5.93 times the total number of Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. The Offer Shares initially offered under the International Offering have been slightly oversubscribed, representing approximately 1.6 times the total number of Offer Shares initially available under the International Offering. Based on the offer price of HK $25.22 per share, and according to the cornerstone investment agreement, the cornerstone investors have subscribed for a total of 15.4785 million offer shares.</p><p>Based on the offer price of HK $25.22 per share, the net proceeds the company will receive from the global offering are estimated to be approximately HK $471.1 million (assuming the over-allotment option is not exercised). The company intends to use approximately 70% of the net proceeds to fund further clinical research and development of core products; Approximately 15% is used to fund the discovery and development of antibody drugs under the Thousand Mice Antibody Program; About 10% is used for pre-clinical and clinical development of other pipeline products; And about 5% will be used for working capital and other general corporate purposes. If the over-allotment option is exercised in full, the company will receive additional net proceeds of approximately HK $79.4 million for the 3,263,500 additional H shares to be issued and allotted due to the exercise of the over-allotment option.</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 winning rate of one lot of Biocyto-B is 50%, and the subscription of 14 lots is stable</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 winning rate of one lot of Biocyto-B is 50%, and the subscription of 14 lots is stable\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\">2022-08-31 09:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>August 31,<a href=\"https://laohu8.com/S/02315\">Biocyto-B</a>It was announced that the company sold 21.7585 million shares globally, including 2.176 million shares offered in Hong Kong, 19.5825 million shares offered internationally, and a 15% over-allotment option; The Offer Price is HK $25.22 per Offer Share, with a board lot of 500 shares;<a href=\"https://laohu8.com/S/601995\">CICC</a>(b)<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Are the Joint Sponsors; It is expected that the Shares will be listed on the Main Board of the Stock Exchange on 1 September 2022.</p><p><b>The relevant data of Tiger Information Collation is as follows:</b></p><p><img src=\"https://static.tigerbbs.com/bfe1fe1e76e82123d9604aa786444204\" tg-width=\"1059\" tg-height=\"824\" width=\"100%\" height=\"auto\"/></p><p><b>Distribution results</b></p><p>Group A has 500 shares per lot, with a winning rate of 50% for one lot, and 14 subscriptions are secure in one lot.</p><p>The head of Group B is 400 lots (200,000 shares), and 100 lots (50,000 shares) are allocated.</p><p><img src=\"https://static.tigerbbs.com/55a7b8874bfe77499a8c822eca293038\" tg-width=\"611\" tg-height=\"682\" width=\"100%\" height=\"auto\"/><img src=\"https://static.tigerbbs.com/d91bc610c3945989c6040d6ea210986d\" tg-width=\"613\" tg-height=\"286\" width=\"100%\" height=\"auto\"/></p><p>The Hong Kong Offer Shares have been slightly oversubscribed. A total of 3,524 valid applications were received to subscribe for a total of 12.9095 million Hong Kong Offer Shares, equivalent to approximately 5.93 times the total number of Hong Kong Offer Shares initially available for subscription under the Hong Kong Public Offering. The Offer Shares initially offered under the International Offering have been slightly oversubscribed, representing approximately 1.6 times the total number of Offer Shares initially available under the International Offering. Based on the offer price of HK $25.22 per share, and according to the cornerstone investment agreement, the cornerstone investors have subscribed for a total of 15.4785 million offer shares.</p><p>Based on the offer price of HK $25.22 per share, the net proceeds the company will receive from the global offering are estimated to be approximately HK $471.1 million (assuming the over-allotment option is not exercised). The company intends to use approximately 70% of the net proceeds to fund further clinical research and development of core products; Approximately 15% is used to fund the discovery and development of antibody drugs under the Thousand Mice Antibody Program; About 10% is used for pre-clinical and clinical development of other pipeline products; And about 5% will be used for working capital and other general corporate purposes. If the over-allotment option is exercised in full, the company will receive additional net proceeds of approximately HK $79.4 million for the 3,263,500 additional H shares to be issued and allotted due to the exercise of the over-allotment option.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6b69e234a63c2c0a69ccede7b0faaa18","relate_stocks":{"02315":"百奥赛图-B"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110193028","content_text":"8月31日，百奥赛图-B发布公告，公司全球发售2175.85万股股份，其中香港发售股份217.6万股，国际发售股份1958.25万股，另有15%超额配股权；发售价为每股发售股份25.22港元，每手买卖单位500股；中金公司及高盛为联席保荐人；预期股份将于2022年9月1日于联交所主板挂牌上市。老虎资讯整理相关数据如下：分配结果甲组每手500股，一手中签率50%，申购14手稳中一手。乙组头为400手（200000股），获配100手（50000股）。香港发售股份已获轻微超额认购。合共接获3524份有效申请，认购合共1290.95万股香港发售股份，相当于香港公开发售项下初步可供认购香港发售股份总数的约5.93倍。国际发售项下初步提呈发售的发售股份已获轻微超额认购，相当于国际发售项下初步可供认购发售股份总数约1.6倍。按发售价每股25.22港元计算，且根据基石投资协议，基石投资者已认购合共1547.85万股发售股份。按发售价每股25.22港元计算，公司将自全球发售收取的所得款项净额估计约为4.711亿港元(假设超额配股权未获行使)。公司拟将所得款项净额约70%用于为核心产品的进一步临床研发提供资金；约15%用于根据千鼠万抗计划为抗体药物发现及开发提供资金；约10%用于其他管线产品的临床前及临床开发；及约5%将用作营运资金及其他一般公司用途。倘超额配股权获悉数行使，则公司将就因超额配股权获行使而将予发行及配发的326.35万股额外H股收取额外所得款项净额约7940万港元。","news_type":1,"symbols_score_info":{"02315":0.9}},"isVote":1,"tweetType":1,"viewCount":2285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9997463066,"gmtCreate":1661836309857,"gmtModify":1676536588579,"author":{"id":"4116924152740332","authorId":"4116924152740332","name":"kuro123","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4116924152740332","authorIdStr":"4116924152740332"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9997463066","repostId":"1175791610","repostType":4,"isVote":1,"tweetType":1,"viewCount":1259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}