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0勋章

2021-09-14

$AIMS APAC REIT(O5RU.SI)$wait

2021-06-25

[思考]

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2021-06-25

Like

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2021-06-25

[微笑]

2021-06-23

$MEDTECS INTERNATIONAL CORP LTD(546.SI)$[心碎]

2021-04-16

[疑问]

Crypto for the long term: what’s the outlook?

2021-04-16

[无语]

2021-04-13

Like n Comment

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2021-04-13

[无语]

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2021-04-06

[强]

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2021-04-06

[思考]

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

2021-04-01

[可爱]

2021-03-31

[OK]

Value vs. Growth Stocks – How to Pick the Right Stocks for Your Portfoli

2021-03-30

$TOP GLOVE CORPORATION BHD(BVA.SI)$[无语]

2021-03-25

[思考]

Li Ka-shing’s New Deal is Latest Effort to Prop Up CK Asset Share Price

2021-03-20

[思考]

2021-03-16

$TOP GLOVE CORPORATION BHD(BVA.SI)$hope

2021-02-17

Yup

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LTD(546.SI)$[心碎]","images":[{"img":"https://static.tigerbbs.com/53173ca2023817a4952a41191161e76d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123303004","isVote":1,"tweetType":1,"viewCount":1629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":370131929,"gmtCreate":1618561208661,"gmtModify":1631890448703,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[疑问]&nbsp;","listText":"[疑问]&nbsp;","text":"[疑问]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/370131929","repostId":"1196603230","repostType":4,"repost":{"id":"1196603230","kind":"news","pubTimestamp":1618559780,"share":"https://www.laohu8.com/m/news/1196603230?lang=&edition=full","pubTime":"2021-04-16 15:56","market":"us","language":"en","title":"Crypto for the long term: what’s the outlook?","url":"https://stock-news.laohu8.com/highlight/detail?id=1196603230","media":"MarketWatch","summary":"It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘inno","content":"<p>It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘innovator’ stage</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/752a1b5c6700b38a9a9d7d5702e18949\" tg-width=\"1260\" tg-height=\"788\"><span>ISTOCKPHOTO</span></p>\n<p>As cryptocurrencies take a big step into adulthood this week with the trading debut of broker Coinbase on Nasdaq, it may be time to consider their long-term outlook. A pair of financial-markets experts weighed in on that question at the&nbsp;MarketWatch-Barron’s event&nbsp;Investing In Crypto, held Wednesday.</p>\n<p>Katie Stockton, a market technician and founder of Fairlead Strategies, noted that technical analysis shows a trend that’s “clearly higher” for the price of Bitcoin.In hindsight, we can see that the lows in 2018 and 2020 served as a massive double bottom, she noted.</p>\n<p>After taking out its 2017 high, Bitcoin jumped above $34,000, and “hasn’t looked back since then,” Stockton said. New all-time highs are a good thing in the long term, she said, and the minor breakout is a good thing, short-term, suggesting a measured move up to just over $69,000. However, the loss of upside momentum means the uptrend should become more gradual.</p>\n<p>Bryan Routledge, a professor of finance at the Tepper School of Business of Carnegie Mellon University, noted that cryptocurrencies have several use cases. Most importantly, they represent an investment in a new technology, and one that has important implications for the economy in the future.</p>\n<p>That’s happened before — think of the dot-com bubble of two decades ago, Routledge said. But now, investing in the new technology has generally not involved investing in a new company but buying a new asset.</p>\n<p>In the analogy to the dot-com era, there are lots of failed companies, he noted. As of now, one of the use cases often discussed for cryptos — as literal currencies — hasn’t really come to pass yet.</p>\n<p>Bitcoin is often compared to gold for fundamental reasons, but there are some technical ones as well, the moderator commented.</p>\n<p>Since last August, when gold peaked and Bitcoin broke out, gold has been down six out of seven months, while Bitcoin has been higher in six out of seven months, Stockton said. She theorizes that Bitcoin might be viewed as a store of value now, while gold hasn’t been helped by a stronger risk-on attitude in the markets.</p>\n<p>The steep uptrend suggests Bitcoin is more of a risk asset, for now, but it seems to be stealing buyers from gold, Stockton noted. From the perspective of the hedge fund community, it’s a “welcome” alternative asset class, she said.</p>\n<p>With that in mind, it’s still early days for Bitcoin and cryptocurrencies more broadly, Stockton said. “I think we’re probably still in the ‘innovator’ stage, which represents &nbsp;opportunity, but it does often come with volatility.”</p>\n<p>It’s hard to forecast when the volatility will die down, she said, but “it will probably take a long time for this new asset class to play out, for people to understand what it is and find different ways to invest in it and for it to become a medium of exchange. Traders would say it’s something they can take advantage of,” even as long-term investors have to hold their stomachs through the chop.</p>\n<p>Bitcoin was meant to be decentralized but the financial industry that’s grown up around it makes it more centralized, a moderator observed. It’s “stunningly” centralized, Routledge agreed. People usually aren’t buying bitcoins, they’re buying liabilities often run through Coinbase or other go-betweens, he noted.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto for the long term: what’s the outlook?</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\">\nCrypto for the long term: what’s the outlook?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 15:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/crypto-for-the-long-term-whats-the-outlook-11618505367?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘innovator’ stage\nISTOCKPHOTO\nAs cryptocurrencies take a big step into adulthood this week with the ...</p>\n\n<a href=\"https://www.marketwatch.com/story/crypto-for-the-long-term-whats-the-outlook-11618505367?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","PYPL":"PayPal","GBTC":"Grayscale Bitcoin Trust ETF"},"source_url":"https://www.marketwatch.com/story/crypto-for-the-long-term-whats-the-outlook-11618505367?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196603230","content_text":"It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘innovator’ stage\nISTOCKPHOTO\nAs cryptocurrencies take a big step into adulthood this week with the trading debut of broker Coinbase on Nasdaq, it may be time to consider their long-term outlook. A pair of financial-markets experts weighed in on that question at the MarketWatch-Barron’s event Investing In Crypto, held Wednesday.\nKatie Stockton, a market technician and founder of Fairlead Strategies, noted that technical analysis shows a trend that’s “clearly higher” for the price of Bitcoin.In hindsight, we can see that the lows in 2018 and 2020 served as a massive double bottom, she noted.\nAfter taking out its 2017 high, Bitcoin jumped above $34,000, and “hasn’t looked back since then,” Stockton said. New all-time highs are a good thing in the long term, she said, and the minor breakout is a good thing, short-term, suggesting a measured move up to just over $69,000. However, the loss of upside momentum means the uptrend should become more gradual.\nBryan Routledge, a professor of finance at the Tepper School of Business of Carnegie Mellon University, noted that cryptocurrencies have several use cases. Most importantly, they represent an investment in a new technology, and one that has important implications for the economy in the future.\nThat’s happened before — think of the dot-com bubble of two decades ago, Routledge said. But now, investing in the new technology has generally not involved investing in a new company but buying a new asset.\nIn the analogy to the dot-com era, there are lots of failed companies, he noted. As of now, one of the use cases often discussed for cryptos — as literal currencies — hasn’t really come to pass yet.\nBitcoin is often compared to gold for fundamental reasons, but there are some technical ones as well, the moderator commented.\nSince last August, when gold peaked and Bitcoin broke out, gold has been down six out of seven months, while Bitcoin has been higher in six out of seven months, Stockton said. She theorizes that Bitcoin might be viewed as a store of value now, while gold hasn’t been helped by a stronger risk-on attitude in the markets.\nThe steep uptrend suggests Bitcoin is more of a risk asset, for now, but it seems to be stealing buyers from gold, Stockton noted. From the perspective of the hedge fund community, it’s a “welcome” alternative asset class, she said.\nWith that in mind, it’s still early days for Bitcoin and cryptocurrencies more broadly, Stockton said. “I think we’re probably still in the ‘innovator’ stage, which represents  opportunity, but it does often come with volatility.”\nIt’s hard to forecast when the volatility will die down, she said, but “it will probably take a long time for this new asset class to play out, for people to understand what it is and find different ways to invest in it and for it to become a medium of exchange. Traders would say it’s something they can take advantage of,” even as long-term investors have to hold their stomachs through the chop.\nBitcoin was meant to be decentralized but the financial industry that’s grown up around it makes it more centralized, a moderator observed. It’s “stunningly” centralized, Routledge agreed. People usually aren’t buying bitcoins, they’re buying liabilities often run through Coinbase or other go-betweens, he noted.","news_type":1,"symbols_score_info":{"COIN":0.9,"BTCmain":0.9,"XBTmain":0.9,"GBTC":0.9,"PYPL":0.9,"SQ":0.9}},"isVote":1,"tweetType":1,"viewCount":1654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":370139633,"gmtCreate":1618561065922,"gmtModify":1631890448704,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[无语]&nbsp;","listText":"[无语]&nbsp;","text":"[无语]","images":[{"img":"https://static.tigerbbs.com/ba475f9e2389013c8168a400dae277df","width":"1080","height":"3021"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/370139633","isVote":1,"tweetType":1,"viewCount":2089,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":345177607,"gmtCreate":1618294125809,"gmtModify":1631890448711,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"Like n Comment","listText":"Like n Comment","text":"Like n Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/345177607","repostId":"1146450605","repostType":4,"isVote":1,"tweetType":1,"viewCount":2520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342766895,"gmtCreate":1618243445817,"gmtModify":1631890448709,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[无语]&nbsp;","listText":"[无语]&nbsp;","text":"[无语]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/342766895","repostId":"2126060698","repostType":4,"isVote":1,"tweetType":1,"viewCount":1851,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":343859849,"gmtCreate":1617705781181,"gmtModify":1631890448713,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/343859849","repostId":"1186551401","repostType":4,"isVote":1,"tweetType":1,"viewCount":1915,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":343892817,"gmtCreate":1617699042739,"gmtModify":1631890448717,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[思考]&nbsp;","listText":"[思考]&nbsp;","text":"[思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/343892817","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","pubTimestamp":1617672655,"share":"https://www.laohu8.com/m/news/1101907559?lang=&edition=full","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<blockquote>\n <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>\n</blockquote>\n<p>Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p>\n<p>In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p>\n<p>Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p>\n<p>The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p>\n<p>A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p>\n<p><b>Unregulated money managers</b></p>\n<p>Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p>\n<p>This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p>\n<p>The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p>\n<p>But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p>\n<p><b>Danger of counterparty risk</b></p>\n<p>This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p>\n<p>So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p>\n<p>One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p>\n<p>But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p>\n<p><b>Yellen on the case</b></p>\n<p>This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p>\n<p>Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p>\n<p>The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 09:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of ...</p>\n\n<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":357113235,"gmtCreate":1617245233127,"gmtModify":1631890448717,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[可爱]&nbsp;","listText":"[可爱]&nbsp;","text":"[可爱]","images":[{"img":"https://static.tigerbbs.com/62e6e7fcc06a14346577d625713944ae","width":"1080","height":"3021"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357113235","isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":354537439,"gmtCreate":1617186612121,"gmtModify":1631892376883,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[OK]&nbsp;","listText":"[OK]&nbsp;","text":"[OK]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354537439","repostId":"1135110939","repostType":4,"repost":{"id":"1135110939","kind":"news","pubTimestamp":1617183851,"share":"https://www.laohu8.com/m/news/1135110939?lang=&edition=full","pubTime":"2021-03-31 17:44","market":"us","language":"en","title":"Value vs. Growth Stocks – How to Pick the Right Stocks for Your Portfoli","url":"https://stock-news.laohu8.com/highlight/detail?id=1135110939","media":"VantagePoint","summary":"When investing in the stock market, people use different approaches to select which company is worth","content":"<p><b>When investing in the stock market, people use different approaches to select which company is worth it. For some investors, the brand is everything – they simply like the product and want to own shares in the company (e.g., Coca-Cola).</b></p><p>For others, picking up a company to invest in comes at the end of a complicated process. Conservative investors will always prefer dividend-paying companies and compound the returns over multiple periods.</p><p>As dividends are paid quarterly in the United States, the power of compounding immediately yields results in a few years. Taxes also play an important role in defining a short- or long-term investment. Longer-term capital gains are taxed at a lower rate, the idea behind being to avoid unnecessary speculation.</p><p>Most retail investors split the market into two broad categories – growth and value. Growth and valuestocksare two fundamental approaches, two ways of looking at the broad equity market.</p><p>Growth investors look for companies that historically delivered strong earnings growth, while value investors look for companies that they believe aretradingat a discount. More precisely, they use various models to find the intrinsic value of a company’s share price (e.g., dividend discount models, capital asset pricing model) and then compare it to the market value. If the intrinsic value exceeds the market price, the company is a buy.</p><p><img src=\"https://static.tigerbbs.com/65cf5b66baf9f3849787469e2d810e16\" tg-width=\"1216\" tg-height=\"687\" referrerpolicy=\"no-referrer\">Bond Yield Changes and Value vs. Growth Returns</p><p>Since the new year started, bond yields are on the rise in the United States. The move higher reflects the ongoing economic recovery from the recession caused by the pandemic and triggered higher yields in other parts of the world. Because higher yields implicitly bring tighter financial conditions, central banks try to intervene so the economic recovery is not hurt and accommodative measures remain.</p><p>What is interesting is that historically, there is a correlation between rising yields and value stocks. The benchmark widely used is the Russell 1000 Value vs. Growth, and in the last three years that ended last February, the correlation has been +0.28. However, in the long term, the correlation declines, which brings back the question – value or growth for long-term investments?</p><p><img src=\"https://static.tigerbbs.com/ebff81f957dcf359f3f12eb4c6c21fd0\" tg-width=\"1845\" tg-height=\"358\" referrerpolicy=\"no-referrer\">The truth is that no rule of thumb exists. Value stocks are typically cyclical and defensive, while growth stocks are mainly healthcare, technology, and communication.</p><p>A close look at the previous four decades shows mixed results. As such, investors would be better off looking to diversify between the two, trying to get a balanced exposure based on where the economy is on the business cycle.</p>","source":"lsy1615437168461","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>Value vs. Growth Stocks – How to Pick the Right Stocks for Your Portfoli</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\">\nValue vs. Growth Stocks – How to Pick the Right Stocks for Your Portfoli\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 17:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://vantagepointtrading.com/news/value-vs-growth-stocks-how-to-pick-the-right-stocks-for-your-portfolio/><strong>VantagePoint</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When investing in the stock market, people use different approaches to select which company is worth it. For some investors, the brand is everything – they simply like the product and want to own ...</p>\n\n<a href=\"https://vantagepointtrading.com/news/value-vs-growth-stocks-how-to-pick-the-right-stocks-for-your-portfolio/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c143530e3957463946d55d6aea33d21a","relate_stocks":{},"source_url":"https://vantagepointtrading.com/news/value-vs-growth-stocks-how-to-pick-the-right-stocks-for-your-portfolio/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135110939","content_text":"When investing in the stock market, people use different approaches to select which company is worth it. For some investors, the brand is everything – they simply like the product and want to own shares in the company (e.g., Coca-Cola).For others, picking up a company to invest in comes at the end of a complicated process. Conservative investors will always prefer dividend-paying companies and compound the returns over multiple periods.As dividends are paid quarterly in the United States, the power of compounding immediately yields results in a few years. Taxes also play an important role in defining a short- or long-term investment. Longer-term capital gains are taxed at a lower rate, the idea behind being to avoid unnecessary speculation.Most retail investors split the market into two broad categories – growth and value. Growth and valuestocksare two fundamental approaches, two ways of looking at the broad equity market.Growth investors look for companies that historically delivered strong earnings growth, while value investors look for companies that they believe aretradingat a discount. More precisely, they use various models to find the intrinsic value of a company’s share price (e.g., dividend discount models, capital asset pricing model) and then compare it to the market value. If the intrinsic value exceeds the market price, the company is a buy.Bond Yield Changes and Value vs. Growth ReturnsSince the new year started, bond yields are on the rise in the United States. The move higher reflects the ongoing economic recovery from the recession caused by the pandemic and triggered higher yields in other parts of the world. Because higher yields implicitly bring tighter financial conditions, central banks try to intervene so the economic recovery is not hurt and accommodative measures remain.What is interesting is that historically, there is a correlation between rising yields and value stocks. The benchmark widely used is the Russell 1000 Value vs. Growth, and in the last three years that ended last February, the correlation has been +0.28. However, in the long term, the correlation declines, which brings back the question – value or growth for long-term investments?The truth is that no rule of thumb exists. Value stocks are typically cyclical and defensive, while growth stocks are mainly healthcare, technology, and communication.A close look at the previous four decades shows mixed results. As such, investors would be better off looking to diversify between the two, trying to get a balanced exposure based on where the economy is on the business cycle.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355527332,"gmtCreate":1617088551326,"gmtModify":1631885389725,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BVA.SI\">$TOP GLOVE CORPORATION BHD(BVA.SI)$</a>[无语]&nbsp;","listText":"<a href=\"https://laohu8.com/S/BVA.SI\">$TOP GLOVE CORPORATION BHD(BVA.SI)$</a>[无语]&nbsp;","text":"$TOP GLOVE CORPORATION BHD(BVA.SI)$[无语]","images":[{"img":"https://static.tigerbbs.com/f2fe8eb0ad3705d29bf6159cccfcdc19","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/355527332","isVote":1,"tweetType":1,"viewCount":577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":358939911,"gmtCreate":1616648095733,"gmtModify":1631892376886,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[思考]&nbsp;","listText":"[思考]&nbsp;","text":"[思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/358939911","repostId":"1118856005","repostType":4,"repost":{"id":"1118856005","kind":"news","pubTimestamp":1616641208,"share":"https://www.laohu8.com/m/news/1118856005?lang=&edition=full","pubTime":"2021-03-25 11:00","market":"hk","language":"en","title":"Li Ka-shing’s New Deal is Latest Effort to Prop Up CK Asset Share Price","url":"https://stock-news.laohu8.com/highlight/detail?id=1118856005","media":"bloomberg","summary":"Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the ","content":"<p>Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the stock of family businessCK Asset Holdings Ltd., after HK$4.4 billion ($566 million) of personal purchases of the company’s shares failed to reverse slumping prices.</p>\n<p>Li’s charity, theLi Ka Shing Foundation, is selling CK Asset four companies holding stakes in infrastructure operations in the U.K. and the Netherlands for HK$17 billion in stock. To avoid diluting current shareholders, the company will buy back the same amount of shares from the market at an 8.4% premium to the previous closing price.</p>\n<p>By undertaking its first buyback in about 2 1/2-years, CK Asset is hoping to boost a share price that has slumped more than 16% since the start of 2019, compared with an 8% rise in the benchmark Hang Seng Index.</p>\n<p>CK Asset, the real-estate flagship of the Li family’s CK Group, has seen its businesses including property development, aircraft leasing and pub operations hit hard after months of anti-Beijing protests in Hong Kong starting mid-2019 were followed by the coronavirus pandemic. CK Asset didn’t respond to requests for comment.</p>\n<p>“One key message of this deal is that CKA isn’t abandoning” buybacks, Daiwa Capital Markets analyst Jonas Kan said in a note following the announcement. “We will not be surprised if CKA turns more active in buybacks in the future, which shall be supportive for its share price.”</p>\n<p>The shares surged 7.2% the day after the deal was announced. They have since erased some of those gains, in line with a broader decline in the Hang Seng Index.</p>\n<p><img src=\"https://static.tigerbbs.com/f3a006d1652c46f3d8e915d216590742\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p>\n<p>Further sweetening the deal, the foundation will ensure CK Asset receives dividends, interest and other cash distributions from the infrastructure assets of at least HK$910 million both this year and next. The company also promises higher dividends for those two years than were paid in 2020.</p>\n<p>Yet the deal has left some investors questioning the company’s governance, with the arrangement allowing the Li family to increase its stake in CK Asset to as much as 45% from 36% currently.</p>\n<p>Individual investor Benny Chung reduced his holdings partly because the deal appears to have increased the family’s control at the expense of minority shareholders, he said in acolumnposted online Monday. Despite the buyback premium, the HK$51 per share offer is still a 47% discount to the company’s net asset value, he said.</p>\n<p>“The family is indirectly increasing its holding in CK Asset at quite a deep discount,” said analyst Raymond Cheng of CGS-CIMB. “Some shareholders aren’t very happy about that.”</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>Li Ka-shing’s New Deal is Latest Effort to Prop Up CK Asset Share Price</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\">\nLi Ka-shing’s New Deal is Latest Effort to Prop Up CK Asset Share Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-25/li-s-new-deal-is-latest-effort-to-prop-up-ck-asset-share-price><strong>bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the stock of family businessCK Asset Holdings Ltd., after HK$4.4 billion ($566 million) of personal ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-25/li-s-new-deal-is-latest-effort-to-prop-up-ck-asset-share-price\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-03-25/li-s-new-deal-is-latest-effort-to-prop-up-ck-asset-share-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118856005","content_text":"Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the stock of family businessCK Asset Holdings Ltd., after HK$4.4 billion ($566 million) of personal purchases of the company’s shares failed to reverse slumping prices.\nLi’s charity, theLi Ka Shing Foundation, is selling CK Asset four companies holding stakes in infrastructure operations in the U.K. and the Netherlands for HK$17 billion in stock. To avoid diluting current shareholders, the company will buy back the same amount of shares from the market at an 8.4% premium to the previous closing price.\nBy undertaking its first buyback in about 2 1/2-years, CK Asset is hoping to boost a share price that has slumped more than 16% since the start of 2019, compared with an 8% rise in the benchmark Hang Seng Index.\nCK Asset, the real-estate flagship of the Li family’s CK Group, has seen its businesses including property development, aircraft leasing and pub operations hit hard after months of anti-Beijing protests in Hong Kong starting mid-2019 were followed by the coronavirus pandemic. CK Asset didn’t respond to requests for comment.\n“One key message of this deal is that CKA isn’t abandoning” buybacks, Daiwa Capital Markets analyst Jonas Kan said in a note following the announcement. “We will not be surprised if CKA turns more active in buybacks in the future, which shall be supportive for its share price.”\nThe shares surged 7.2% the day after the deal was announced. They have since erased some of those gains, in line with a broader decline in the Hang Seng Index.\n\nFurther sweetening the deal, the foundation will ensure CK Asset receives dividends, interest and other cash distributions from the infrastructure assets of at least HK$910 million both this year and next. The company also promises higher dividends for those two years than were paid in 2020.\nYet the deal has left some investors questioning the company’s governance, with the arrangement allowing the Li family to increase its stake in CK Asset to as much as 45% from 36% currently.\nIndividual investor Benny Chung reduced his holdings partly because the deal appears to have increased the family’s control at the expense of minority shareholders, he said in acolumnposted online Monday. Despite the buyback premium, the HK$51 per share offer is still a 47% discount to the company’s net asset value, he said.\n“The family is indirectly increasing its holding in CK Asset at quite a deep discount,” said analyst Raymond Cheng of CGS-CIMB. “Some shareholders aren’t very happy about that.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":350178356,"gmtCreate":1616170301575,"gmtModify":1631892376885,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[思考]&nbsp;","listText":"[思考]&nbsp;","text":"[思考]","images":[{"img":"https://static.tigerbbs.com/8552bd95d6f6551ebc9ac2256dcdc163","width":"1080","height":"2989"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350178356","isVote":1,"tweetType":1,"viewCount":523,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":325206951,"gmtCreate":1615899883073,"gmtModify":1703494689904,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BVA.SI\">$TOP GLOVE CORPORATION BHD(BVA.SI)$</a>hope","listText":"<a href=\"https://laohu8.com/S/BVA.SI\">$TOP GLOVE CORPORATION BHD(BVA.SI)$</a>hope","text":"$TOP GLOVE CORPORATION BHD(BVA.SI)$hope","images":[{"img":"https://static.tigerbbs.com/63c68a25ada35a9ace2f93a994ab71aa","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/325206951","isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":385504784,"gmtCreate":1613560658448,"gmtModify":1631892376888,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"Yup","listText":"Yup","text":"Yup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385504784","repostId":"1109567373","repostType":4,"isVote":1,"tweetType":1,"viewCount":471,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":358939911,"gmtCreate":1616648095733,"gmtModify":1631892376886,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[思考]&nbsp;","listText":"[思考]&nbsp;","text":"[思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/358939911","repostId":"1118856005","repostType":4,"repost":{"id":"1118856005","kind":"news","pubTimestamp":1616641208,"share":"https://www.laohu8.com/m/news/1118856005?lang=&edition=full","pubTime":"2021-03-25 11:00","market":"hk","language":"en","title":"Li Ka-shing’s New Deal is Latest Effort to Prop Up CK Asset Share Price","url":"https://stock-news.laohu8.com/highlight/detail?id=1118856005","media":"bloomberg","summary":"Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the ","content":"<p>Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the stock of family businessCK Asset Holdings Ltd., after HK$4.4 billion ($566 million) of personal purchases of the company’s shares failed to reverse slumping prices.</p>\n<p>Li’s charity, theLi Ka Shing Foundation, is selling CK Asset four companies holding stakes in infrastructure operations in the U.K. and the Netherlands for HK$17 billion in stock. To avoid diluting current shareholders, the company will buy back the same amount of shares from the market at an 8.4% premium to the previous closing price.</p>\n<p>By undertaking its first buyback in about 2 1/2-years, CK Asset is hoping to boost a share price that has slumped more than 16% since the start of 2019, compared with an 8% rise in the benchmark Hang Seng Index.</p>\n<p>CK Asset, the real-estate flagship of the Li family’s CK Group, has seen its businesses including property development, aircraft leasing and pub operations hit hard after months of anti-Beijing protests in Hong Kong starting mid-2019 were followed by the coronavirus pandemic. CK Asset didn’t respond to requests for comment.</p>\n<p>“One key message of this deal is that CKA isn’t abandoning” buybacks, Daiwa Capital Markets analyst Jonas Kan said in a note following the announcement. “We will not be surprised if CKA turns more active in buybacks in the future, which shall be supportive for its share price.”</p>\n<p>The shares surged 7.2% the day after the deal was announced. They have since erased some of those gains, in line with a broader decline in the Hang Seng Index.</p>\n<p><img src=\"https://static.tigerbbs.com/f3a006d1652c46f3d8e915d216590742\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p>\n<p>Further sweetening the deal, the foundation will ensure CK Asset receives dividends, interest and other cash distributions from the infrastructure assets of at least HK$910 million both this year and next. The company also promises higher dividends for those two years than were paid in 2020.</p>\n<p>Yet the deal has left some investors questioning the company’s governance, with the arrangement allowing the Li family to increase its stake in CK Asset to as much as 45% from 36% currently.</p>\n<p>Individual investor Benny Chung reduced his holdings partly because the deal appears to have increased the family’s control at the expense of minority shareholders, he said in acolumnposted online Monday. Despite the buyback premium, the HK$51 per share offer is still a 47% discount to the company’s net asset value, he said.</p>\n<p>“The family is indirectly increasing its holding in CK Asset at quite a deep discount,” said analyst Raymond Cheng of CGS-CIMB. “Some shareholders aren’t very happy about that.”</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>Li Ka-shing’s New Deal is Latest Effort to Prop Up CK Asset Share Price</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\">\nLi Ka-shing’s New Deal is Latest Effort to Prop Up CK Asset Share Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-03-25/li-s-new-deal-is-latest-effort-to-prop-up-ck-asset-share-price><strong>bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the stock of family businessCK Asset Holdings Ltd., after HK$4.4 billion ($566 million) of personal ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-03-25/li-s-new-deal-is-latest-effort-to-prop-up-ck-asset-share-price\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-03-25/li-s-new-deal-is-latest-effort-to-prop-up-ck-asset-share-price","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118856005","content_text":"Hong Kong billionaire Li Ka-shing and his eldest son Victor Li are stepping up efforts to boost the stock of family businessCK Asset Holdings Ltd., after HK$4.4 billion ($566 million) of personal purchases of the company’s shares failed to reverse slumping prices.\nLi’s charity, theLi Ka Shing Foundation, is selling CK Asset four companies holding stakes in infrastructure operations in the U.K. and the Netherlands for HK$17 billion in stock. To avoid diluting current shareholders, the company will buy back the same amount of shares from the market at an 8.4% premium to the previous closing price.\nBy undertaking its first buyback in about 2 1/2-years, CK Asset is hoping to boost a share price that has slumped more than 16% since the start of 2019, compared with an 8% rise in the benchmark Hang Seng Index.\nCK Asset, the real-estate flagship of the Li family’s CK Group, has seen its businesses including property development, aircraft leasing and pub operations hit hard after months of anti-Beijing protests in Hong Kong starting mid-2019 were followed by the coronavirus pandemic. CK Asset didn’t respond to requests for comment.\n“One key message of this deal is that CKA isn’t abandoning” buybacks, Daiwa Capital Markets analyst Jonas Kan said in a note following the announcement. “We will not be surprised if CKA turns more active in buybacks in the future, which shall be supportive for its share price.”\nThe shares surged 7.2% the day after the deal was announced. They have since erased some of those gains, in line with a broader decline in the Hang Seng Index.\n\nFurther sweetening the deal, the foundation will ensure CK Asset receives dividends, interest and other cash distributions from the infrastructure assets of at least HK$910 million both this year and next. The company also promises higher dividends for those two years than were paid in 2020.\nYet the deal has left some investors questioning the company’s governance, with the arrangement allowing the Li family to increase its stake in CK Asset to as much as 45% from 36% currently.\nIndividual investor Benny Chung reduced his holdings partly because the deal appears to have increased the family’s control at the expense of minority shareholders, he said in acolumnposted online Monday. Despite the buyback premium, the HK$51 per share offer is still a 47% discount to the company’s net asset value, he said.\n“The family is indirectly increasing its holding in CK Asset at quite a deep discount,” said analyst Raymond Cheng of CGS-CIMB. “Some shareholders aren’t very happy about that.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":345177607,"gmtCreate":1618294125809,"gmtModify":1631890448711,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"Like n Comment","listText":"Like n Comment","text":"Like n Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/345177607","repostId":"1146450605","repostType":4,"isVote":1,"tweetType":1,"viewCount":2520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343892817,"gmtCreate":1617699042739,"gmtModify":1631890448717,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[思考]&nbsp;","listText":"[思考]&nbsp;","text":"[思考]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/343892817","repostId":"1101907559","repostType":4,"repost":{"id":"1101907559","kind":"news","pubTimestamp":1617672655,"share":"https://www.laohu8.com/m/news/1101907559?lang=&edition=full","pubTime":"2021-04-06 09:30","market":"us","language":"en","title":"Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time","url":"https://stock-news.laohu8.com/highlight/detail?id=1101907559","media":"marketwatch","summary":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management. Its reach and operating practices were","content":"<blockquote>\n <b>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.</b>\n</blockquote>\n<p>Financial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.</p>\n<p>In 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.</p>\n<p>Exactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.</p>\n<p>The trend? Every 10 years or so, and they all look different.&nbsp;Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?</p>\n<p>A family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.</p>\n<p><b>Unregulated money managers</b></p>\n<p>Here’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)</p>\n<p>This appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player&nbsp;Vipshop Holdings&nbsp;Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company&nbsp;GSX Techedu&nbsp;Inc.GSX,-10.63%and U.S. media companiesViacomCBS&nbsp;Inc.VIAC,-3.90%and&nbsp;Discovery&nbsp;Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.</p>\n<p>The problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including&nbsp;Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%,&nbsp;Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc.&nbsp;NMR,+1.87%.</p>\n<p>But since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre&nbsp;reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.</p>\n<p><b>Danger of counterparty risk</b></p>\n<p>This is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.</p>\n<p>So is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.</p>\n<p>One peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.</p>\n<p>But federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.</p>\n<p><b>Yellen on the case</b></p>\n<p>This issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”</p>\n<p>Most financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.</p>\n<p>The Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Opinion: Financial crises get triggered about every 10 years — Archegos might be right on time</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOpinion: Financial crises get triggered about every 10 years — Archegos might be right on time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-06 09:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of ...</p>\n\n<a href=\"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/financial-crises-happen-about-every-10-years-which-makes-the-archegos-meltdown-unnerving-11617634942?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101907559","content_text":"No one, for now, can say for sure that the so-called family office’s billions in investment losses won’t spread.\n\nFinancial crises are never quite the same. During the late 1980s, nearly a third of the nation’s savings and loan associations failed, ending with a taxpayer bailout — in 2021 terms — of about $265 billion.\nIn 1997-1998, financial crises in Asia and Russia led to the near meltdown of the largest hedge fund in the U.S. —Long-Term Capital Management(LTCM). Its reach and operating practices were such that Federal Reserve Chairman Alan Greenspan said that when LTCM failed, “he had never seen anything in his lifetime that compared to the terror” he felt. LTCM was deemed “too big to fail,” and he engineered a bailout by 14 major U.S. financial institutions.\nExactly a decade later, too much leverage by some of those very institutions, and the bursting of a U.S. real estate bubble, led to the near collapse of the U.S. financial system. Once again, big banks were deemed too big to fail and taxpayers came to the rescue.\nThe trend? Every 10 years or so, and they all look different. Are we in the early stages of a new crisis now, with the blowup at the family office Archegos Capital Management LP?\nA family office, for the uninitiated, is a private wealth management vehicle for the ultra-wealthy. Here’s what I mean by ultra-wealthy: Consulting firm EY estimates there are some 10,000 family offices globally, but manage, says a separate estimate by market research firm Campden Research, nearly $6 trillion. That $6 trillion is likely far higher now given that it’s based on 2019 data.\nUnregulated money managers\nHere’s the potential danger. Family offices generally aren’t regulated. The 1940 Investment Advisers Act says firms with 15 clients or fewer don’t have to register with the Securities and Exchange Commission. What this means is that trillions of dollars are in play and no one can really say who’s running the money, what it’s invested in, how much leverage is being used, and what kind of counterparty risk may exist. (Counterparty risk is the probability that one party involved in a financial transaction could default on a contractual obligation to someone else.)\nThis appears to be the case with Archegos. The firm bet heavily on certain Chinese stocks, including e-commerce player Vipshop Holdings Ltd.VIPS,-1.19%,U.S.-listed Chinese tutoring company GSX Techedu Inc.GSX,-10.63%and U.S. media companiesViacomCBS Inc.VIAC,-3.90%and Discovery Inc.DISCA,-3.86%,among others. Share prices have tumbled lately, sparking large sales — some $30 billion — by Archegos.\nThe problem is that only about a third of that, or $10 billion, was its own money. We now know that Archegos worked with some of the biggest names on Wall Street, including Credit Suisse Group AGCS,+1.59%,UBS Group AGUBS,+1.01%,Goldman Sachs Group Inc.GS,-1.25%, Morgan StanleyMS,-0.28%,Deutsche Bank AGDB,+0.74%and Nomura Holdings Inc. NMR,+1.87%.\nBut since family offices are largely allowed to operate unregulated, who’s to say how much money is really involved here and what the extent of market risk is? My colleague Mark DeCambre reported last week that Archegos’ true exposures to bad trades could actuallybe closer to $100 billion.\nDanger of counterparty risk\nThis is where counterparty risk comes in. As Archegos’ bets went south, the above banks — looking at losses of their own — hit the firm with margin calls. Deutsche quickly dumped about $4 billion in holdings, while Goldman and Morgan Stanley are also said to have unwound their positions, perhaps limiting their downside.\nSo is this a financial crisis? It doesn’t appear to be. Even so, the Securities and Exchange Commission has opened a preliminary investigation into Archegos and its founder, Bill Hwang.\nOne peer, Tom Lee, the research chief of Fundstrat Global Advisors, calls Hwang one of the “top 10 of the best investment minds” he knows.\nBut federal regulators may have a lesser opinion. In 2012, Hwang’s former hedge fund, Tiger Asia Management, pleaded guilty and paid more than $60 million in penalties after it was accused of trading on illegal tips about Chinese banks. The SEC banned Hwang from managing money on behalf of clients — essentially booting him from the hedge fund industry. So Hwang opened Archegos, and again, family offices aren’t generally aren’t regulated.\nYellen on the case\nThis issue is on Treasury Secretary Janet Yellen’s radar. She said last week that greater oversight of these private corners of the financial industry is needed. The Financial Stability Oversight Council (FSOC), which she oversees, has revived a task force to help agencies better “share data, identify risks and work to strengthen our financial system.”\nMost financial crises end up with American taxpayers getting stuck with the tab. Gains belong to the risk-takers. But losses — they belong to us. To paraphrase Abe Lincoln, family offices — a multi-trillion dollar industry largely allowed to operate in the shadows in a global financial system that is more intertwined than ever — are of the super-wealthy, by the super-wealthy and for the super-wealthy. And no one else.\nThe Archegos collapse may or may not be the beginning of yet another financial crisis. But who’s to say what thousands of other family offices are doing with their trillions, and whether similar problems could blow up?","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":733,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":355527332,"gmtCreate":1617088551326,"gmtModify":1631885389725,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BVA.SI\">$TOP GLOVE CORPORATION BHD(BVA.SI)$</a>[无语]&nbsp;","listText":"<a href=\"https://laohu8.com/S/BVA.SI\">$TOP GLOVE CORPORATION BHD(BVA.SI)$</a>[无语]&nbsp;","text":"$TOP GLOVE CORPORATION BHD(BVA.SI)$[无语]","images":[{"img":"https://static.tigerbbs.com/f2fe8eb0ad3705d29bf6159cccfcdc19","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/355527332","isVote":1,"tweetType":1,"viewCount":577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":370131929,"gmtCreate":1618561208661,"gmtModify":1631890448703,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[疑问]&nbsp;","listText":"[疑问]&nbsp;","text":"[疑问]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/370131929","repostId":"1196603230","repostType":4,"repost":{"id":"1196603230","kind":"news","pubTimestamp":1618559780,"share":"https://www.laohu8.com/m/news/1196603230?lang=&edition=full","pubTime":"2021-04-16 15:56","market":"us","language":"en","title":"Crypto for the long term: what’s the outlook?","url":"https://stock-news.laohu8.com/highlight/detail?id=1196603230","media":"MarketWatch","summary":"It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘inno","content":"<p>It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘innovator’ stage</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/752a1b5c6700b38a9a9d7d5702e18949\" tg-width=\"1260\" tg-height=\"788\"><span>ISTOCKPHOTO</span></p>\n<p>As cryptocurrencies take a big step into adulthood this week with the trading debut of broker Coinbase on Nasdaq, it may be time to consider their long-term outlook. A pair of financial-markets experts weighed in on that question at the&nbsp;MarketWatch-Barron’s event&nbsp;Investing In Crypto, held Wednesday.</p>\n<p>Katie Stockton, a market technician and founder of Fairlead Strategies, noted that technical analysis shows a trend that’s “clearly higher” for the price of Bitcoin.In hindsight, we can see that the lows in 2018 and 2020 served as a massive double bottom, she noted.</p>\n<p>After taking out its 2017 high, Bitcoin jumped above $34,000, and “hasn’t looked back since then,” Stockton said. New all-time highs are a good thing in the long term, she said, and the minor breakout is a good thing, short-term, suggesting a measured move up to just over $69,000. However, the loss of upside momentum means the uptrend should become more gradual.</p>\n<p>Bryan Routledge, a professor of finance at the Tepper School of Business of Carnegie Mellon University, noted that cryptocurrencies have several use cases. Most importantly, they represent an investment in a new technology, and one that has important implications for the economy in the future.</p>\n<p>That’s happened before — think of the dot-com bubble of two decades ago, Routledge said. But now, investing in the new technology has generally not involved investing in a new company but buying a new asset.</p>\n<p>In the analogy to the dot-com era, there are lots of failed companies, he noted. As of now, one of the use cases often discussed for cryptos — as literal currencies — hasn’t really come to pass yet.</p>\n<p>Bitcoin is often compared to gold for fundamental reasons, but there are some technical ones as well, the moderator commented.</p>\n<p>Since last August, when gold peaked and Bitcoin broke out, gold has been down six out of seven months, while Bitcoin has been higher in six out of seven months, Stockton said. She theorizes that Bitcoin might be viewed as a store of value now, while gold hasn’t been helped by a stronger risk-on attitude in the markets.</p>\n<p>The steep uptrend suggests Bitcoin is more of a risk asset, for now, but it seems to be stealing buyers from gold, Stockton noted. From the perspective of the hedge fund community, it’s a “welcome” alternative asset class, she said.</p>\n<p>With that in mind, it’s still early days for Bitcoin and cryptocurrencies more broadly, Stockton said. “I think we’re probably still in the ‘innovator’ stage, which represents &nbsp;opportunity, but it does often come with volatility.”</p>\n<p>It’s hard to forecast when the volatility will die down, she said, but “it will probably take a long time for this new asset class to play out, for people to understand what it is and find different ways to invest in it and for it to become a medium of exchange. Traders would say it’s something they can take advantage of,” even as long-term investors have to hold their stomachs through the chop.</p>\n<p>Bitcoin was meant to be decentralized but the financial industry that’s grown up around it makes it more centralized, a moderator observed. It’s “stunningly” centralized, Routledge agreed. People usually aren’t buying bitcoins, they’re buying liabilities often run through Coinbase or other go-betweens, he noted.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto for the long term: what’s the outlook?</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\">\nCrypto for the long term: what’s the outlook?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 15:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/crypto-for-the-long-term-whats-the-outlook-11618505367?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘innovator’ stage\nISTOCKPHOTO\nAs cryptocurrencies take a big step into adulthood this week with the ...</p>\n\n<a href=\"https://www.marketwatch.com/story/crypto-for-the-long-term-whats-the-outlook-11618505367?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","PYPL":"PayPal","GBTC":"Grayscale Bitcoin Trust ETF"},"source_url":"https://www.marketwatch.com/story/crypto-for-the-long-term-whats-the-outlook-11618505367?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196603230","content_text":"It hasn’t proven itself as an actual currency yet, but it’s still in what one expert calls the ‘innovator’ stage\nISTOCKPHOTO\nAs cryptocurrencies take a big step into adulthood this week with the trading debut of broker Coinbase on Nasdaq, it may be time to consider their long-term outlook. A pair of financial-markets experts weighed in on that question at the MarketWatch-Barron’s event Investing In Crypto, held Wednesday.\nKatie Stockton, a market technician and founder of Fairlead Strategies, noted that technical analysis shows a trend that’s “clearly higher” for the price of Bitcoin.In hindsight, we can see that the lows in 2018 and 2020 served as a massive double bottom, she noted.\nAfter taking out its 2017 high, Bitcoin jumped above $34,000, and “hasn’t looked back since then,” Stockton said. New all-time highs are a good thing in the long term, she said, and the minor breakout is a good thing, short-term, suggesting a measured move up to just over $69,000. However, the loss of upside momentum means the uptrend should become more gradual.\nBryan Routledge, a professor of finance at the Tepper School of Business of Carnegie Mellon University, noted that cryptocurrencies have several use cases. Most importantly, they represent an investment in a new technology, and one that has important implications for the economy in the future.\nThat’s happened before — think of the dot-com bubble of two decades ago, Routledge said. But now, investing in the new technology has generally not involved investing in a new company but buying a new asset.\nIn the analogy to the dot-com era, there are lots of failed companies, he noted. As of now, one of the use cases often discussed for cryptos — as literal currencies — hasn’t really come to pass yet.\nBitcoin is often compared to gold for fundamental reasons, but there are some technical ones as well, the moderator commented.\nSince last August, when gold peaked and Bitcoin broke out, gold has been down six out of seven months, while Bitcoin has been higher in six out of seven months, Stockton said. She theorizes that Bitcoin might be viewed as a store of value now, while gold hasn’t been helped by a stronger risk-on attitude in the markets.\nThe steep uptrend suggests Bitcoin is more of a risk asset, for now, but it seems to be stealing buyers from gold, Stockton noted. From the perspective of the hedge fund community, it’s a “welcome” alternative asset class, she said.\nWith that in mind, it’s still early days for Bitcoin and cryptocurrencies more broadly, Stockton said. “I think we’re probably still in the ‘innovator’ stage, which represents  opportunity, but it does often come with volatility.”\nIt’s hard to forecast when the volatility will die down, she said, but “it will probably take a long time for this new asset class to play out, for people to understand what it is and find different ways to invest in it and for it to become a medium of exchange. Traders would say it’s something they can take advantage of,” even as long-term investors have to hold their stomachs through the chop.\nBitcoin was meant to be decentralized but the financial industry that’s grown up around it makes it more centralized, a moderator observed. It’s “stunningly” centralized, Routledge agreed. People usually aren’t buying bitcoins, they’re buying liabilities often run through Coinbase or other go-betweens, he 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17:44","market":"us","language":"en","title":"Value vs. Growth Stocks – How to Pick the Right Stocks for Your Portfoli","url":"https://stock-news.laohu8.com/highlight/detail?id=1135110939","media":"VantagePoint","summary":"When investing in the stock market, people use different approaches to select which company is worth","content":"<p><b>When investing in the stock market, people use different approaches to select which company is worth it. For some investors, the brand is everything – they simply like the product and want to own shares in the company (e.g., Coca-Cola).</b></p><p>For others, picking up a company to invest in comes at the end of a complicated process. Conservative investors will always prefer dividend-paying companies and compound the returns over multiple periods.</p><p>As dividends are paid quarterly in the United States, the power of compounding immediately yields results in a few years. Taxes also play an important role in defining a short- or long-term investment. Longer-term capital gains are taxed at a lower rate, the idea behind being to avoid unnecessary speculation.</p><p>Most retail investors split the market into two broad categories – growth and value. Growth and valuestocksare two fundamental approaches, two ways of looking at the broad equity market.</p><p>Growth investors look for companies that historically delivered strong earnings growth, while value investors look for companies that they believe aretradingat a discount. More precisely, they use various models to find the intrinsic value of a company’s share price (e.g., dividend discount models, capital asset pricing model) and then compare it to the market value. If the intrinsic value exceeds the market price, the company is a buy.</p><p><img src=\"https://static.tigerbbs.com/65cf5b66baf9f3849787469e2d810e16\" tg-width=\"1216\" tg-height=\"687\" referrerpolicy=\"no-referrer\">Bond Yield Changes and Value vs. Growth Returns</p><p>Since the new year started, bond yields are on the rise in the United States. The move higher reflects the ongoing economic recovery from the recession caused by the pandemic and triggered higher yields in other parts of the world. Because higher yields implicitly bring tighter financial conditions, central banks try to intervene so the economic recovery is not hurt and accommodative measures remain.</p><p>What is interesting is that historically, there is a correlation between rising yields and value stocks. The benchmark widely used is the Russell 1000 Value vs. Growth, and in the last three years that ended last February, the correlation has been +0.28. However, in the long term, the correlation declines, which brings back the question – value or growth for long-term investments?</p><p><img src=\"https://static.tigerbbs.com/ebff81f957dcf359f3f12eb4c6c21fd0\" tg-width=\"1845\" tg-height=\"358\" referrerpolicy=\"no-referrer\">The truth is that no rule of thumb exists. Value stocks are typically cyclical and defensive, while growth stocks are mainly healthcare, technology, and communication.</p><p>A close look at the previous four decades shows mixed results. As such, investors would be better off looking to diversify between the two, trying to get a balanced exposure based on where the economy is on the business cycle.</p>","source":"lsy1615437168461","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>Value vs. Growth Stocks – How to Pick the Right Stocks for Your Portfoli</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\">\nValue vs. Growth Stocks – How to Pick the Right Stocks for Your Portfoli\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 17:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://vantagepointtrading.com/news/value-vs-growth-stocks-how-to-pick-the-right-stocks-for-your-portfolio/><strong>VantagePoint</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When investing in the stock market, people use different approaches to select which company is worth it. For some investors, the brand is everything – they simply like the product and want to own ...</p>\n\n<a href=\"https://vantagepointtrading.com/news/value-vs-growth-stocks-how-to-pick-the-right-stocks-for-your-portfolio/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c143530e3957463946d55d6aea33d21a","relate_stocks":{},"source_url":"https://vantagepointtrading.com/news/value-vs-growth-stocks-how-to-pick-the-right-stocks-for-your-portfolio/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135110939","content_text":"When investing in the stock market, people use different approaches to select which company is worth it. For some investors, the brand is everything – they simply like the product and want to own shares in the company (e.g., Coca-Cola).For others, picking up a company to invest in comes at the end of a complicated process. Conservative investors will always prefer dividend-paying companies and compound the returns over multiple periods.As dividends are paid quarterly in the United States, the power of compounding immediately yields results in a few years. Taxes also play an important role in defining a short- or long-term investment. Longer-term capital gains are taxed at a lower rate, the idea behind being to avoid unnecessary speculation.Most retail investors split the market into two broad categories – growth and value. Growth and valuestocksare two fundamental approaches, two ways of looking at the broad equity market.Growth investors look for companies that historically delivered strong earnings growth, while value investors look for companies that they believe aretradingat a discount. More precisely, they use various models to find the intrinsic value of a company’s share price (e.g., dividend discount models, capital asset pricing model) and then compare it to the market value. If the intrinsic value exceeds the market price, the company is a buy.Bond Yield Changes and Value vs. Growth ReturnsSince the new year started, bond yields are on the rise in the United States. The move higher reflects the ongoing economic recovery from the recession caused by the pandemic and triggered higher yields in other parts of the world. Because higher yields implicitly bring tighter financial conditions, central banks try to intervene so the economic recovery is not hurt and accommodative measures remain.What is interesting is that historically, there is a correlation between rising yields and value stocks. The benchmark widely used is the Russell 1000 Value vs. Growth, and in the last three years that ended last February, the correlation has been +0.28. However, in the long term, the correlation declines, which brings back the question – value or growth for long-term investments?The truth is that no rule of thumb exists. Value stocks are typically cyclical and defensive, while growth stocks are mainly healthcare, technology, and communication.A close look at the previous four decades shows mixed results. As such, investors would be better off looking to diversify between the two, trying to get a balanced exposure based on where the economy is on the business cycle.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350178356,"gmtCreate":1616170301575,"gmtModify":1631892376885,"author":{"id":"3575584209294285","authorId":"3575584209294285","name":"TSquare","avatar":"https://static.tigerbbs.com/db7d2496d9cde731e866e67da91471fe","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575584209294285","authorIdStr":"3575584209294285"},"themes":[],"htmlText":"[思考]&nbsp;","listText":"[思考]&nbsp;","text":"[思考]","images":[{"img":"https://static.tigerbbs.com/8552bd95d6f6551ebc9ac2256dcdc163","width":"1080","height":"2989"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350178356","isVote":1,"tweetType":1,"viewCount":523,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"lives":[]}